Indian Bank Ltd, part of the PSU banking space, has rallied more than 60% in the last 6 months which pushed the stock to a fresh record high in February 2024 which suggests that bulls are here to stay. Short-term traders can look to buy the stock now or on dips for a possible target … Read more
91.60 percent gain propelled the state-owned lender to the eighth place in the top 20 Indian banks by market capitalization as of September 30, from rank 14 three months ago. Five other public sector banks rose in the market cap rankings over the previous quarter. Central Bank of India‘s market cap grew 76.59 per cent … Read more
Indian market pared losses and closed in the green on Wednesday. The S&P BSE Sensex rose more than 170 points while the Nifty50 closed above 19,700 levels. Sectorally, buying was seen in capital goods, healthcare and telecom stocks while selling was seen in oil & gas, consumer durables, and banks. Stocks that were in focus … Read more
Indian equities fell on Tuesday, breaking their two-day winning streak, as investors turned cautious ahead of the key events — RBI’s monetary policy and the US inflation data — due to be announced later this week. Continuous foreign fund outflows and weak trend in Asian and European markets also played spoilsport for the domestic markets. … Read more
Brokerage firm Morgan Stanley maintained an overweight rating on RIL, Citi downgraded Pidilite Industries to sell, Nomura downgraded UltraTech Cement to neutral, and Investec initiated a buy rating on Indian Bank.We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Morgan Stanley on RIL: Overweight| Target Rs 3210Morgan Stanley … Read more
Technical charts indicate Nifty could extend its recordbreaking run and the upward momentum acceleration towards 19,700 in the coming month. HDFC twins, Mahindra & Mahindra, Reliance Industries, L&T, Bajaj Auto, Hero Moto, JSW Steel, Bharti Airtel, Indian Hotels, HEG, Persistent Systems, Gabriel, and BEL, are some of the stocks recommended by technical analysts for short-term … Read more
Mutual funds were net buyers in Indian equities in May, adding stocks worth Rs 2,447 crore as compared to selling Rs 4,533 crore in shares in April. In the smallcap space, some of the major additions to the portfolios during the month include Jupiter Wagons, Nexus Select Trust Mall, Carysil, Chennai Petroleum Corp and Faze … Read more
With the Indian markets trading at 18-19 times price-to-earnings multiple, the scope for re-rating is limited, said Sailesh Raj Bhan, chief investment officer-equity at Nippon India Mutual Fund. In an interview with Prashant Mahesh, Bhan said there are buying opportunities in segments like manufacturing, engineering, banking, consumer staples and pharma. Edited excerpts: What will be … Read more
Four financial service companies, including three banks, from the smallcap space have turned multibaggers since last year’s Holi, according to an analysis by The Economic Times. Karnataka Bank was the top gainer among the financial pack, with a rise of over 153%, followed by Ujjivan Financial Services, whose shares have risen 145%. Meanwhile, South Indian … Read more
The Indian market opened higher on Friday tracking positive global cues. The Nifty 50 index rose 192 points or 1.11% to 17,507, while the S&P BSE Sensex surged 638 points or 1.16% to 59,547, as of 10.15 am. The S&P BSE Sensex fell more than 500 points while the Nifty50 fell below 17,350 level on … Read more