Page 1271 - Markets News
Bias negative for Nifty Metal index; near-term support is at 6,125 level
There is a strong resistance around the 6,525-mark, which suggests that the Nifty Metal index may struggle to surpass this level in the near future
 "Bias negative for Nifty Metal index; near-term support is at 6,125 level")
Sensex, Nifty climb on firm global trends and foreign fund inflows
Buying in index major Reliance Industries, Infosys and ITC also helped markets extend their previous day's gain
 "Sensex, Nifty climb on firm global trends and foreign fund inflows")
Life insurance stocks up on decent growth prospects in first quarter
But analysts' target prices suggest limited upside in HDFC Life and ICICI Pru Life, and between 15-20 per cent for SBI Life, Max Life and LIC
 "Life insurance stocks up on decent growth prospects in first quarter")
Sebi slaps over Rs 25 cr on two entities in GDR manipulation case
Capital markets regulator Sebi on Tuesday imposed a penalty totalling Rs 25.2 crore on two individuals in a case related to the manipulation of global depository receipt (GDR)
 "Sebi slaps over Rs 25 cr on two entities in GDR manipulation case")
Sensex ends range-bound session 274 pts up; financials weigh, IT, RIL gain
CLOSING BELL ON JULY 11, 2023: The NSE Nifty ended 84 points or 0.4 per cent higher, while the Bank Nifty and Nifty Financial Services declined 0.2 per cent and 0.4 per cent, respectively on Tuesday.
 "Sensex ends range-bound session 274 pts up; financials weigh, IT, RIL gain")
Elecon Engineering hits new high on strong Q1; stock doubles in 4 months
With strong order book in hand across segments, the management is optimistic of sustaining growth momentum going forward
 "Elecon Engineering hits new high on strong Q1; stock doubles in 4 months")
HCL Tech revenue, profit may rise 15% YoY in Q1FY24; ER&D segment to be hit
HCL Tech Q1FY24 result: On a QoQ basis, its Q1 revenue may grow 1 per cent while net profit could drop 4 per cent
 "HCL Tech revenue, profit may rise 15% YoY in Q1FY24; ER&D segment to be hit")
Cyient DLM extends rally, nearly doubles investors' wealth in two days
The stock rallied 20 per cent to Rs 504.90 on the BSE in intra-day trade on Tuesday, and has zoomed 91 per cent against its issue price of Rs 265 per share in two days
 "Cyient DLM extends rally, nearly doubles investors' wealth in two days")
TCS Preview: Wage hikes to erode margin in Q1FY24; PAT may drop 3.3% QoQ
TCS Q1 result preview: The weakness comes on account of a worsening demand environment, which is leading to cancellation and delay in projects, a longer sales cycle and slower revenue conversion
 "TCS Preview: Wage hikes to erode margin in Q1FY24; PAT may drop 3.3% QoQ")
PFC, Sanghvi Movers, Bajaj twins: Trading strategies for buzzing stocks
These 5 buzzing stocks may rise up to 15% in the coming sessions
 "PFC, Sanghvi Movers, Bajaj twins: Trading strategies for buzzing stocks")
Minda Corp rallies 6%, hits new high on securing Rs 750 cr order from OEM
Thus far in the calendar year 2023, the stock price of Minda Corp has zoomed nearly 50 per cent, as compared to 7.6 per cent rise in the S&P BSE Sensex.
 "Minda Corp rallies 6%, hits new high on securing Rs 750 cr order from OEM")
Defence stocks on roll: Mazagon Dock, BDL, Cochin Shipyard surge up to 10%
Mazagon Dock Shipbuilders hit a new high of Rs 1,584, as the stock rallied 10 per cent on reports that MoD has cleared the procurement of three additional Scorpene or Kalvari class submarines.
 "Defence stocks on roll: Mazagon Dock, BDL, Cochin Shipyard surge up to 10%")
Kalyan Jewellers extends rally on strong Q1 biz update; zooms 59% in 1 mth
In the past week, the stock has rallied 18 per cent after the company reported over 30 per cent consolidated revenue growth for the June quarter (Q1FY24)
 "Kalyan Jewellers extends rally on strong Q1 biz update; zooms 59% in 1 mth")
PCBL surges 7% on commencement of phase 1 specialty chemical capacity
The stock has hit a 52-week high at Rs 174.55 in intra-day trades so far on Tuesday.
 "PCBL surges 7% on commencement of phase 1 specialty chemical capacity")
Stocks to Watch today, July 11: Vedanta, LIC, Vadilal, PCBL, Tata Comm, PFC
Stocks to watch on July 11, 2023: Shares of Nazara Tech and Satin Creditcare may see some action as the boards approved fund raising proposals.
 "Stocks to Watch today, July 11: Vedanta, LIC, Vadilal, PCBL, Tata Comm, PFC")
Nifty PSU Bank index may rally another 10% from here on, show charts
The final target for the ongoing up trend in the Nifty PSU bank index is projected to be in the range of 4,620 to 4,875
 "Nifty PSU Bank index may rally another 10% from here on, show charts")
With a pause in rate hikes, NBFCs, like banks, are in a sweet spot
RBI's pause in interest rate hikes and a continuation of the revival of private consumption would boost NBFCs in the first quarter (Q1) FY24
 "With a pause in rate hikes, NBFCs, like banks, are in a sweet spot")
Dream debut: Shares of EMS provider Cyient DLM gain 59% on Day 1
Cyient DLM's key clients include Honeywell International, ABB, and Bharat Electronics
 "Dream debut: Shares of EMS provider Cyient DLM gain 59% on Day 1")
RIL shines in lacklustre trade; Sensex ends 64 pts up; broader indices slip
CLOSING BELL ON JULY 10, 2023: Reliance alone contributed 302 points to the BSE Sensex as the stock finished 3.8 per cent higher. The NSE Nifty 50 was up 24 points at 19,356 on Monday.
 "RIL shines in lacklustre trade; Sensex ends 64 pts up; broader indices slip")
Prism Johnson slips 6% on 1,420-acre land transfer plan to Ramco Cements
The company will also transfer a mining lease granted by the government over to Ramco Cements for an area of 663.46 hectares
 "Prism Johnson slips 6% on 1,420-acre land transfer plan to Ramco Cements")