Following a sharp 17% rally in Zomato shares amid blockbuster results, the new-age stock could rally to Rs 292 in the near term, with a stop loss at Rs 252-240, says Anand James, Chief Market Strategist at Geojit Financial Services. “Directional moving indicators and most oscillators point to strength and continuation of the uptrend. Fast … Read more
Shares of Adani Energy Solutions surged nearly 10% on Thursday after the $1-billion qualified institutional placement (QIP) was oversubscribed six times, garnering a demand of over Rs 50,000 crore according to an ET report. The stock also hit a fresh 52-week high of Rs 1,250 on the NSE amid significant volume, when 1.27 crore shares … Read more
Aimed at the trinity of fiscal prudence, investment, and growth momentum, the Union Budget saw the introduction of employment incentives and a simplified income tax regime, which should boost consumption. Investors were, however, caught off guard due to the increase in LTCG and STCG tax rates, leading to a knee-jerk reaction on D-Street. “While the … Read more
Technical charts suggest the short-term trend of Nifty is likely to be range-bound with a weak bias. A move below the immediate support of 23,250 could indicate the beginning of a shortterm downward correction, according to technical analysts. For short-term trading, analysts recommend stocks such as SBI, IDFC First Bank, Granules, Infosys, HCL Tech, M&M … Read more
Jun 16, 2024, 12:11:05 PM IST Nippon India Mutual Fund manages assets under management totaling Rs. 4.93 lakh crore as of May 2024 and oversees 189 mutual fund schemes. Here are the top 10 stock holdings of the fund house, according to a report by Motilal Oswal Financial Services. ETMarkets.com Nippon India MF had the … Read more
The Insurance Regulatory and Development Authority of India (Irdai) recently declared that all life insurance savings products should offer a policy loan feature to assist policyholders with their financial needs. The master circular stated the facility of partial withdrawal under pension products is allowed enabling the policyholders to meet their specific financial needs for important … Read more
The State Bank of India (SBI) has increased its marginal cost of funds-based lending rate (MCLR) by 10 basis points (0.1%) across all tenures, effective June 15. This adjustment will result in higher EMIs for borrowers with loans linked to MCLR. The hike sees the one-year MCLR rise to 8.75% from 8.65%, the overnight MCLR … Read more
“I don’t see any likelihood of the government getting over-populist at the cost of compromising its fiscal discipline,” says Amar Ambani, Executive Director, YES Securities. In an interview with ETMarkets, Ambani said: “I would look to buoyant sectors like realty, banking, select consumer discretionaries, telecom, and aviation for better opportunities,” Edited excerpts: Unlock Leadership Excellence … Read more
With NDA coming into power, investors now feel more comfortable as they believe in the continuity of policies and structural reform framework. Ahead of the Union Budget 2024, dometic brokerage firm Chola Securities have made recommendations for the investors for a holding period till Union Budget 2025 as they foresee ever-rising tax and non-tax revenues … Read more
Fear index India VIX witnessed its highest single-day gain in 9 years, jumping nearly 40% on intraday basis to the day’s high of 28.62. The gains were seen after counting trends showed a strong fight back by the India Alliance though BJP-led NDA still managed to cross the majority mark. India VIX had settled at … Read more