Page 1280 - Markets News
Fag-end buying lifts Sensex 159pts, Nifty atop 18,800; TaMo, HCL Tech up 3%
Closing Bell on June 20, 2023: Afternoon buying in Tata Motors, HCL Tech, Kotak Bank, RIL, Power Grid, Infosys, L&T, Axis Bank, TCS, and Tech M lifted the indices
 "Fag-end buying lifts Sensex 159pts, Nifty atop 18,800; TaMo, HCL Tech up 3%")
Indian stocks inch towards record highs ahead of US Fed Chair's testimony
By Bharath Rajeswaran
 "Indian stocks inch towards record highs ahead of US Fed Chair's testimony")
IIFL Securities to approach SAT against Sebi order on taking up new clients
The statement comes after the capital markets regulator Sebi on Monday barred IIFL Securities from onboarding new clients for two years for alleged mis-utilisation of client funds
 "IIFL Securities to approach SAT against Sebi order on taking up new clients")
Zee Entertainment slips 7% to hit 52-week low amid heavy volumes
The stock quoted its lowest level since September 2021, with over three-fold jumped in average trading volumes
 "Zee Entertainment slips 7% to hit 52-week low amid heavy volumes")
Tata Motors nears record high on improved outlook; zooms 50% so far in 2023
Improved gross cash accruals and strong liquidity position with the management's focus to attain zero net auto debt is expected to lead to significant improvement in leverage and debt coverage metrics
 "Tata Motors nears record high on improved outlook; zooms 50% so far in 2023")
IndiGo hits new peak post 500 Airbus aircraft order; experts see 28% upside
Morgan Stanley has maintained its 'Overweight' rating on the stock post the acquisition, with a target of Rs 3,126
 "IndiGo hits new peak post 500 Airbus aircraft order; experts see 28% upside")
Aurionpro up 5% as board approves preferential issue to Malabar India Fund
The board approved allotment of 255,000 equity shares and 425,000 warrants to Malabar India Fund and 45,000 equity shares and 75,000 warrants to Malabar Midcap Fund.
 "Aurionpro up 5% as board approves preferential issue to Malabar India Fund")
Trading terms and timing: All you wanted to know about Gift Nifty index
Gift Nifty will provide Indian investors cues on how domestic markets could react to global events
 "Trading terms and timing: All you wanted to know about Gift Nifty index")
IndiGo stock may rally to Rs 2,800, SpiceJet remains sluggish on charts
Technical chart of InterGlobe Aviation appears promising, with price action heading towards Rs 2,800. SpiceJet remains underperformer.
 "IndiGo stock may rally to Rs 2,800, SpiceJet remains sluggish on charts")
Stock of this auto ancillary company has zoomed over 60% so far in June
Shares of Jay Bharat Maruti hit a fresh 52-week high of Rs 269.25, as they rallied 4% on the BSE in Tuesday's intra-day trade in an otherwise a weak market.
 "Stock of this auto ancillary company has zoomed over 60% so far in June")
Fusion Micro, Spandana: Rally in MFI stocks has more legs, say analysts
Analysts expect the sector to see strong loan growth in FY24 and FY25 driven by increase in ticket sizes, strong customer acquisitions, and regulatory tailwinds
 "Fusion Micro, Spandana: Rally in MFI stocks has more legs, say analysts")
IIFL Securities plunges 18% as Sebi bars onboarding new clients for 2 years
The SEBI has prohibited the Company from onboarding new clients for a period of two years in respect of its business as a stock broker.
 "IIFL Securities plunges 18% as Sebi bars onboarding new clients for 2 years")
Timken India cracks 11% after almost 16% equity change hands on BSE, NSE
The counter had seen combined traded volume of around 12 million shares in the first hour of trading amid reports of parent company to offload stake.
 "Timken India cracks 11% after almost 16% equity change hands on BSE, NSE")
HDFC AMC surges 9% after 10% equity change hands via block deals
According media reports, Abrdn Investment Management, promoter of HDFC AMC, is likely to exit the company through sale of the entire 10.2 per cent stake
 "HDFC AMC surges 9% after 10% equity change hands via block deals")
Early days of optimism for steel firms as prices move up in China
Stock valuations could improve dramatically if demand rebounds and the China policy support comes through
 "Early days of optimism for steel firms as prices move up in China")
Stocks to watch: Adani Transmission, HDFC AMC, ITC, Sun Pharma, Coal India
Stocks to watch on June 20, 2023: From HDFC AMC to Adani Transmission, here are few stocks to watch in Tuesday's trading session
Nifty Pvt Banks index may weaken; avoid shorting PSU Bank index
According to Ravi Nathani, an independent technical analyst, the short-term trend for the Nifty PSU Bank Index is bullish, indicating a positive outlook in the near term.
 "Nifty Pvt Banks index may weaken; avoid shorting PSU Bank index")
Sebi bans IIFL Securities from onboarding any new clients for two years
IIFL had, reportedly, used credit-balance client accounts to settle proprietary-trade obligations between April 2011 and January 2017
Considering allowing depositary receipts on Indian stocks: IFSCA chief
Srinivas said allowing DRs will shift foreign investor flows coming through the participatory note (pnotes) route
 "Considering allowing depositary receipts on Indian stocks: IFSCA chief")
ETF liquidity falls short despite breaching the Rs 1 trillion mark
Traded value has not risen at the same pace as the increase in assets under management
 "ETF liquidity falls short despite breaching the Rs 1 trillion mark")