25 C Markets / The Economic Times
Mihir Vora, CIO of Trust Mutual Fund, suggests that India's recent market performance is linked to global trends, particularly the Trump trade. He observes that while large-cap stocks, especially in the Nifty, are influenced by global factors, the domestic growth story is playing out more strongly in the broader market, particularly in sectors like renewables and data centers.
Kotak Institutional Equities assigns a Rs 5,200 target price to IndiGo, citing strong positioning amid competitor supply constraints and efficient operations. Shares rise 1%, with a 28% upside potential.
Chinese economy is reasonably supported, they are not going big bang, and China is keeping firepower safe for if untoward, all these tariff barriers come in once President Trump takes in. So, we have to wait and see. I am not really expecting any big bang thing here.
As of 30-Sep-2024, promoters held 0.0 per cent stake in the company, while FIIs held 21.55 per cent and domestic institutional investors had 10.61 per cent.
Data reveals that 18 mid-cap mutual funds have consistently yielded positive returns over the past three years. These funds, including Baroda BNP Paribas Mid Cap Fund and Edelweiss Mid Cap Fund, have maintained their positive performance trajectory into 2024. However, investors are cautioned that past performance is not indicative of future returns and should consult a financial advisor.
PSU bank stocks, including SBI, Canara Bank, PNB, and Bank of Baroda, dropped significantly, while Adani Group shares also fell sharply after bribery and fraud charges, weakening the Indian rupee.
As of 30-Sep-2024, promoters held 43.91 per cent stake in the company, while FIIs held 13.65 per cent and domestic institutional investors had 2.0 per cent.
A total of 544 shares changed hands on the counter till 11:57AM (IST)
Suzlon Energy's shares surged nearly 5% on Thursday as investors responded positively to the company's strong financial performance and ambitious growth plans. Analysts at Geojit Financial Services recommend buying Suzlon Energy stock, citing the company's recent acquisition, attractive valuations, and impressive revenue growth.
A total of 7,541 shares changed hands on the counter till 11:52AM (IST).
Bernstein raises Paytm target price to Rs 1,000, maintaining 'Outperform' rating. Optimistic outlook with potential 100% upside, but downside risk of 40% in bear case. Shares rise 2%.
A total of 1,292 shares changed hands on the counter till 11:37AM (IST).
Micro Life Sciences, India's largest medical devices group, is seeking to raise $150 million by selling a small stake, aiming for a $5 billion valuation. Backed by Warburg Pincus, the company plans to use the funds for expansion, including new manufacturing facilities and product launches.
The Nifty IT index was trading 0.37 per cent at 41901.45.
The stock quoted a 52-week high price of Rs 210.50 and low of Rs 139.45.
The Nifty Pharma index was trading 0.27 per cent at 21826.70.
Adani Green Energy Ltd. cancelled its $600 million bond offering. The offering was linked to a US court order related to bribery allegations against Adani Group executives. This is the second time Adani Green has withdrawn a bond issuance.
Varun Beverages' shares fell 3.4% after raising Rs 7,500 crore through a QIP at a 4.97% discount. The company reported strong Q3 profit and revenue growth.
The Adani Group experienced its worst trading day since the Hindenburg controversy, with a Rs 2.25 lakh crore market cap drop following bribery charges against Gautam Adani and other executives by US prosecutors. Adani's net worth plunged by $10.5 billion, and shares of Adani companies plummeted, impacting bond markets and prompting concern from investors like GQG Partners.
The 30-share BSE Sensex was down 527.06 points at 77051.32
A total of 1,826 shares changed hands on the counter till 11:12AM (IST).
Bitcoin surged to a record high of $97,532, fueled by expectations of favorable US crypto regulation under President-elect Trump, with analysts predicting a rise to $100,000 soon.
A total of 7,540 shares changed hands on the counter till 11:06AM (IST).
Navigating market downturns demands a strong mindset. The author emphasizes the importance of sticking to a long-term investment process, even amidst fear and uncertainty. He introduces the '1-in-4 Rule' to remind investors that market volatility is normal and should be factored into investment strategies.
In the Nifty 50 index, 16 stocks were trading in the green, while 34 stocks were trading in the red.
A total of 7,601 shares changed hands on the counter till 11:00AM (IST)
For the long term, you could very well say that this is a company that mimics the India growth story because it has a large part of its business which kind of gets reflected in the telecom and technology space as also in the retail space.
The 30-share BSE Sensex was down 528.35 points at 77050.03
The stock quoted a 52-week high of Rs 6575.00 and a 52-week low of Rs 4518.35.
Gautam Adani and seven others were indicted in a US bribery case. Moody's said the indictment is credit negative for Adani Group companies. Adani Group stocks and dollar bond prices fell sharply. Adani bull GQG Partners said it was reviewing the emerging details. GQG's statement came after its stock tumbled 26% in Australia.
The 30-share BSE Sensex was down 549.19 points at 77029.19
A total of 3,011 shares changed hands on the counter till 10:49AM (IST).
Gold futures continued their rally at MCX, supported by geopolitical tensions and safe-haven demand, while silver faced slight decline.
ELSS and focused mutual funds, which experienced outflows for the first half of the fiscal year, are regaining investor interest. Renewed confidence in the equity market and tax benefits are driving this comeback, making these categories attractive options for investors, particularly those under the old tax regime.
So, clearly this is a sector which has interesting dynamics going forward. And if your investors are invested here, I think that this is a sector to stay invested in.
Seven stocks in renowned investor Mukul Agrawal's portfolio have emerged as multibaggers in the current fiscal year. These stocks have generated returns of over 100% since the beginning of FY25.
Adani Ent., Adani Ports SEZ, SBI, IndusInd Bank and NTPC were among the top losers on NSE.
The surging US dollar, driven by a strengthening US economy and potential policy shifts, is impacting Indian markets. Import-heavy sectors like oil and gas and auto are facing margin pressures, while export-dependent sectors remain resilient for now. Market sentiment is cautious as investors await clarity on the future direction of the dollar and its impact on Indian equities.
Bitcoin surged past $96,000, fueled by expectations that a crypto-friendly regulatory environment under the Biden administration will propel the digital currency to new heights. The cryptocurrency's price has doubled this year, driven by a surge in institutional investment and growing mainstream acceptance.
As of 30-Sep-2024, promoters held 68.43 per cent stake in the company, while FIIs held 11.96 per cent and domestic institutional investors had 3.62 per cent.
The Nifty Realty index was trading 0.31 per cent at 963.30.
Four Nifty50 stocks showed RSI trending up, signaling strengthening momentum and potential upward movement: Tech Mahindra, Wipro, HDFC Bank, and Mahindra & Mahindra. Traders may consider these as buying opportunities.
Tata Power's shares dipped 2.6% after announcing a partnership with Bhutan's Druk Green Power Corporation to develop 5,000 MW of renewable energy projects in Bhutan. The collaboration will focus on hydropower and solar projects, leveraging Bhutan's resources and India's energy demands.
Motilal Oswal Financial Services maintains a buy call on Grasim Industries, setting a target price of Rs 3,060. They cite a recovery in Grasim's VSF business and anticipate margin improvement in the second half of FY25. The brokerage also highlights the company's growing paints business and its goal to capture a significant market share by FY25.
The Nifty Bank index was trading 1.01 per cent at 50115.85.
Morgan Stanley maintains a cautious stance on the chemical sector, retaining an Overweight rating for Deepak Nitrite but lowering its target price. The sector faces headwinds including pricing pressures and limited growth prospects. While demand shows some signs of recovery, pricing remains a challenge. Morgan Stanley favors Deepak Nitrite for its relative strength and potential in the long term.
Swaminathan Aiyar, Consulting Editor of ET Now, shared his insights on the Maharashtra and Jharkhand Assembly election exit polls, suggesting that while the BJP-led alliance might have a slight advantage in Maharashtra, the results remain uncertain. He highlighted the BJP's challenge with 'defector parties' and personally believes that the Congress-Uddhav Thackeray coalition might secure victory in both states.