Foreign promoters of Timken India are likely to sell 6.6% of stakes in the company through block deals on Tuesday, according to a term sheet issued by BofA Securities India. The term sheet indicates that the floor price has been set at Rs 3,550 per share, which is a 10.2% discount to Monday’s closing price … Read more
Auto components manufacturers Schaeffler India, Timken India and SKF India have been upgraded to ‘Add’ from an earlier ‘Sell’ rating by Kotak Institutional Equities, which sees good entry points in these midcap stocks following a 17-22% correction over the past 6 months. While Schaeffler has fallen by 17%, Timken and SKF’s declines stand at 20% … Read more
In its upcoming semi-annual list of stocks, Association of Mutual Funds in India (AMFI) is highly likely to downgrade and One 97 Communication ( Paytm) from largecap to midcap category, according to a report by . The AMFI rejig will majorly be classified by size, taking into account data from July to December 2022. This … Read more
Nifty futures on the Singapore Exchange traded 40.5 points, or 0.22 per cent lower at 18,439.5, signaling that Dalal Street was headed for a negative start on Thursday. Here are a dozen stocks which may buzz the most in today’s trade: Wipro: The IT services major has reached an agreement with employee representatives on setting … Read more
Indian market closed in the green on Monday for the third consecutive day. The S&P BSE Sensex rallied by over 400 points while Nifty50 closed above 15,800 levels. Sectorally, buying was seen in capital goods, IT, metals, and public sector stocks. The S&P BSE Mid-cap index was up 0.8 per cent while the S&P BSE … Read more
In an interview with ETMarkets, Ratnaparkhi said: “Structurally, the Nifty50 is set to test 17000 on the upside in the coming weeks, and the bullish stance will hold true as long as Nifty trades above 16400.” Edited excerpts: A strong week for markets where bulls pushed the benchmark indices higher by over 2% each. What … Read more