Page 1196 - Markets News
Crude oil prices decline as IEA flags slower demand growth this year
Brent crude futures fell 37 cents, or 0.5%, to $81.23 a barrel by 1008 GMT. U.S. West Texas Intermediate crude futures declined 44 cents, or 0.6%, to $76.20
 "Crude oil prices decline as IEA flags slower demand growth this year")
Juniper Hotels' Rs 1,800 crore IPO to open on for bidding on February 21
The maiden public issue will open for subscription on February 21 and close on February 23, the company said in a statement
 "Juniper Hotels' Rs 1,800 crore IPO to open on for bidding on February 21")
Sensex ends 228 pts higher, Nifty above 21900; M&M soars 7%, ZEEL dips 6%
Stock market highlights on February 15, 2024: Energy and oil & gas sector largecaps NTPC, Power Grid, BPCL and ONGC were among the top frontline gainers, closing 3-5 per cent up
 "Sensex ends 228 pts higher, Nifty above 21900; M&M soars 7%, ZEEL dips 6%")
Sebi considering mandatory registration of PMS distributors with APMI
In its consultation paper, the regulator proposed making registration with APMI mandatory for PMS (Portfolio Manager Services) distributors
 "Sebi considering mandatory registration of PMS distributors with APMI")
Zomato zooms 5%, nears record high after CLSA raises target price by 22%
CLSA maintained its 'buy' rating on Zomato and lifted the target price from Rs 181 to Rs 227 per share.
 "Zomato zooms 5%, nears record high after CLSA raises target price by 22%")
Share price of this ONGC subsidiary has zoomed over 100% in 3 months
The stock price of Mangalore Refinery & Petrochemicals (MRPL) hit a new high of Rs 240 as it surged 18 per cent on the BSE amid heavy volumes.
 "Share price of this ONGC subsidiary has zoomed over 100% in 3 months")
Mahindra & Mahindra rallies 6%, nears record high on solid Q3 performance
The company said the automotive business continues to gain market share with SUV at 21.0% and LCV at 49.6%, and the farm market share has improved 80 bps to 41.8% despite a decline in the industry.
 "Mahindra & Mahindra rallies 6%, nears record high on solid Q3 performance")
Hindustan Unilever hits fresh 52-week low; brokerages share mixed outlook
Analysts at Emkay Global Financial Services believe demand slowdown, competitive pressure, distribution stress, and rising royalty rates are likely to have an overhang on HUL's valuations.
 "Hindustan Unilever hits fresh 52-week low; brokerages share mixed outlook")
Lumax Auto hits all-time high; zooms 28% in 3 days on healthy Q3 results
The management said the positive momentum is anticipated to continue in current quarter, driven by a rising aspirational demand among consumers for vehicle ownership
 "Lumax Auto hits all-time high; zooms 28% in 3 days on healthy Q3 results")
Oil India hits new high, surges 15% in 2 days on strong production outlook
Oil India's earnings growth over the next 3-5 years is likely to be aided by expansion of Numaligarh Refinery Limited (NRL).
 "Oil India hits new high, surges 15% in 2 days on strong production outlook")
Stocks to Watch today: RIL, Paytm, Vedanta, Coal India, Glenmark, NMDC
Stocks to watch on Thursday, February 15, 2024: In news today - Reliance eyes stake in Tata Play, Vedanta parent mulls stake sale to GQG Partners and ED launches probe in Paytm.
 "Stocks to Watch today: RIL, Paytm, Vedanta, Coal India, Glenmark, NMDC")
Nifty IT, Auto: Key levels to watch out for on these two indices
According to Ravi Nathani, an independent technical analyst, the Nifty IT index is likely to face stiff resistance between 38,000 - 38,125.
 "Nifty IT, Auto: Key levels to watch out for on these two indices")
FPIs' investment value in equities jumps 13% to $738 bn in Dec quarter
"This could be attributed to the good performance of the domestic equity markets as well as strong net inflows from FPIs," the report noted
 "FPIs' investment value in equities jumps 13% to $738 bn in Dec quarter")
Vedanta's parent may sell $1 billion worth shares to GQG Partners: Report
Saddled with $6.4 bn in outstanding debt, including $4.5 bn payment due by fiscal 2025, Vedanta Resources has been attempting to shore up finances, including through recent debt restructuring
 "Vedanta's parent may sell $1 billion worth shares to GQG Partners: Report")
Sensex earnings yield gap with 10-year US treasury bond turns negative
A negative spread between Indian equity yield and US long-term Treasury bond makes Indian equities less attractive for foreign investors and may lead to a selloff by FPIs
 "Sensex earnings yield gap with 10-year US treasury bond turns negative")
Swiggy may file papers with Sebi for IPO in 2 weeks to raise Rs 8,000 cr
The food delivery giant has been intensifying efforts to achieve profitability as it prepares for the IPO
 "Swiggy may file papers with Sebi for IPO in 2 weeks to raise Rs 8,000 cr")
Jefferies stays bullish on PSU stocks: SBI, Coal India, NTPC lead the way
The recent outperformance (before the sharp fall in past sessions), Jefferies said, was helped by earnings per share (EPS) upgrades and return on equity (RoE) improvement.
 "Jefferies stays bullish on PSU stocks: SBI, Coal India, NTPC lead the way")
NSE, BSE to hold trading session on March 2 to assess mkt infrastructure
Session to assess the preparedness for any unforeseen event, test transition to disaster recovery site
 "NSE, BSE to hold trading session on March 2 to assess mkt infrastructure")
Rupee rises 5 paise to close at 83 against dollar on positive mkt sentiment
Forex traders said strength of the American currency in the overseas market and elevated crude oil prices weighed on the local unit and restricted a sharp uptick
 "Rupee rises 5 paise to close at 83 against dollar on positive mkt sentiment")
Esconet Tech IPO to open on February 16, price band at Rs 80-84 per share
The issue will comprise a fresh issue of 33,60,000 equity shares with a face value of Rs 10 through the book-building route
 "Esconet Tech IPO to open on February 16, price band at Rs 80-84 per share")