Page 1194 - Markets News
Jindal Saw surges 5% after nearly 1% equity changes hands via block deal
Around 2.35 million equity shares, representing 0.74 per cent of total equity of Jindal Saw, changed hands on the NSE, exchange data shows
 "Jindal Saw surges 5% after nearly 1% equity changes hands via block deal")
Stocks to Watch: L&T, Whirlpool, CIE Auto, ESAF SFB, Ujjivan SFB, NBCC
Stocks to watch on Tuesday, February 20, 2024: Whirlpool of India parent company likely to offload 24 per cent stake via block deal today.
 "Stocks to Watch: L&T, Whirlpool, CIE Auto, ESAF SFB, Ujjivan SFB, NBCC")
Bias for Nifty PSU Bank turns negative, can dip up to 5%
On the upside, the PSU Bank index is likely to face resistance around 7,280 to 7,350, says Ravi Nathani, an independent technical analyst.
 "Bias for Nifty PSU Bank turns negative, can dip up to 5%")
Amid liquidity crunch, shorter-tenure govt bonds lag 'longer' peers
Investors have favoured longer-tenure government bonds, or g-secs, with insurance companies and pension funds leading the charge by stocking up on those with maturities of 30 years and more
 "Amid liquidity crunch, shorter-tenure govt bonds lag 'longer' peers")
Strong Q3 performance stokes more upgrades than downgrades, shows data
Analysts raised 2023-24 (FY24) earnings estimates for 49 per cent of 162 companies
 "Strong Q3 performance stokes more upgrades than downgrades, shows data")
Nifty hits new high as winning streak extends to 5th day; Sensex up 282 pts
Sensex still 620 points shy of record close; India market cap nears Rs 400 trillion
 "Nifty hits new high as winning streak extends to 5th day; Sensex up 282 pts")
Markets are overvalued; IT, metals among most expensive sectors: Analysts
As of Jan 2024, the price-to-book valuation for the Nifty50 index, according to HDFC Securities Institutional Research, was 114 per cent of the average historical valuation, indicating expensiveness.
 "Markets are overvalued; IT, metals among most expensive sectors: Analysts")
Whirlpool set to sell 24% of India stake for up to $451 mn via market deals
Goldman Sachs is advising Whirlpool on the deal, the term sheet showed. Goldman and Whirlpool did not immediately respond to requests for comment
 "Whirlpool set to sell 24% of India stake for up to $451 mn via market deals")
Goldman raises global equities to 'overweight' on economic growth prospects
"We expect growth to become a more important driver of risk appetite and equity/bond correlations should be more negative this year," Goldman said in a note dated Feb 16
 "Goldman raises global equities to 'overweight' on economic growth prospects")
Nifty hits fresh high, Sensex ends 282 pts higher; consumer durables rally
Stock market highlights on February 19, 2024: Nifty index leaps to a new lifetime high of 22,187 after crossing previous high of February 2, 2024
 "Nifty hits fresh high, Sensex ends 282 pts higher; consumer durables rally")
Minda Corp rallies 9%; Sula Vineyards slips 8% after huge block deals
Till 01:50 pm; as many as 10.96 million equity shares representing 4.58 per cent of total equity of Minda Corp have changed hands on the BSE, the exchange data shows.
 "Minda Corp rallies 9%; Sula Vineyards slips 8% after huge block deals")
Novartis soars 11%; board to support parent firm explore strategic options
According to reports, Dr Reddy's Laboratories is likely in a race to acquire Novartis AG's stake in Novartis India.
 "Novartis soars 11%; board to support parent firm explore strategic options")
Quess Corp surges 16%; hits 52-week high on three-way demerger plan
Quess Corp announced that its board of director plans to undertake a three way demerger of its diversified business segments, resulting in three listed entities with dedicated presence.
 "Quess Corp surges 16%; hits 52-week high on three-way demerger plan")
Stock of this non-banking finance company has zoomed 105% in 3 months
Shares of Paisalo Digital rallied 15% to hit a record high of Rs 164 in intra-day trade on Monday, thus surging 63% in past one month on promoter buying and strong December quarter earnings.
 "Stock of this non-banking finance company has zoomed 105% in 3 months")
Paytm recoups 13% from record low on Axis Bank pact, RBI deadline extension
Paytm said it has shifted its nodal account to Axis Bank from Paytm Payments Bank to ensure continuity and seamless merchant settlements
 "Paytm recoups 13% from record low on Axis Bank pact, RBI deadline extension")
Stocks to Watch today: Airtel, Paytm, LIC, Bajaj Auto, Adani Group, HDFC Bk
Stocks to watch on Monday, February 19, 2024: Shares of Adani group are likely to be in focus as the group is said to be in advanced talks to raise up to $2.6 billion from sovereign funds.
 "Stocks to Watch today: Airtel, Paytm, LIC, Bajaj Auto, Adani Group, HDFC Bk")
Nifty, Bank Nifty can fall up to 7%, warn charts; Key hurdles to watch out
According to Ravi Nathani, an independent technical analyst, the trading strategy for Nifty and the Bank Nifty is 'sell on rise'.
 "Nifty, Bank Nifty can fall up to 7%, warn charts; Key hurdles to watch out")
Street signs: FTSE boost for HDFC Bank, arbitrage gains in Bajaj, and more
Two-wheeler major Bajaj Auto has set February 29 as the record date for its Rs 4,000 crore buyback
 "Street signs: FTSE boost for HDFC Bank, arbitrage gains in Bajaj, and more")
Cautious FPIs take out Rs 3,776 cr in Feb due to spike in US bond yields
"Spike in US bond yields triggered by higher-than-expected consumer price inflation led to sustained selling by FPIs," V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said
 "Cautious FPIs take out Rs 3,776 cr in Feb due to spike in US bond yields")
Global trends to guide mkts this week amid lack of local triggers: Analysts
Crude oil prices, rupee movement and US Federal Reserve meeting minutes to be released this week will also influence the market sentiment
 "Global trends to guide mkts this week amid lack of local triggers: Analysts")