Page 1375 - Markets News
Power Grid Corp, NTPC gain 3% each to hit their respective 3-month highs
Power Grid has been declared a successful bidder to establish inter-state transmission system for two projects on build, own operate and transfer (BOOT) basis, in Chhattisgarh.
 "Power Grid Corp, NTPC gain 3% each to hit their respective 3-month highs")
5 Nifty 500 stocks to accumulate if market breadth continues to improve
Shares of Power Grid Corporation of India, GAIL (India) , Linde India, Symphony and Tech Mahindra may rise up to 14%, as per their respective technical charts
 "5 Nifty 500 stocks to accumulate if market breadth continues to improve")
Wonderla scales record high; Imagicaaworld at 52-wk peak, up 44% in 3 days
The companies said business continues to show an excellent rebound after two years of adverse Covid-19 impact and an overall improvement in the health of operations
 "Wonderla scales record high; Imagicaaworld at 52-wk peak, up 44% in 3 days")
Mahanagar Gas surges 7% to hit 52-week high on acquisition of Unison Enviro
This acquisition will enable MGL to expand to newer geographical areas in Maharashtra (Ratnagiri, Latur & Osmanabad) and Karnataka (Chitradurga & Davanagere), thereby, providing new avenues.
 "Mahanagar Gas surges 7% to hit 52-week high on acquisition of Unison Enviro")
MCX Gold, Silver futures likely to exhibit range-bound trade
The MCX Gold futures may test near term-resistance around Rs 56,170 - Rs 56,250; whereas, Silver futures may test Rs 64,930 - Rs 65,300.
 "MCX Gold, Silver futures likely to exhibit range-bound trade")
Traders can adopt buy on dips strategy on Nifty, Bank Nifty: Ravi Nathani
The technical analyst expects an upside target of 17,800 - 17,900 on the Nifty, with stop loss of 17,400.
 "Traders can adopt buy on dips strategy on Nifty, Bank Nifty: Ravi Nathani")
Stocks to Watch: Power Grid, HDFC, Mahanagar Gas, Naukri, IEX, Zydus Life
Stocks to Watch: Mahanagar Gas has entered into a pact to acquire Unison Enviro, a subsidiary of Ashoka Buildcon, for Rs 531 crore
 "Stocks to Watch: Power Grid, HDFC, Mahanagar Gas, Naukri, IEX, Zydus Life")
India is no longer a crazily expensive market, says Jefferies MD Nandurkar
"Indian equities should catch up with global peers with a good probability of outperformance in the second half of this year"
 "India is no longer a crazily expensive market, says Jefferies MD Nandurkar")
India's market capitalisation-to-GDP ratio slips to 95 in FY23, shows data
Reading rides on coat-tails of Rs 31-trn decline in India's m-cap to Rs 258 trn
 "India's market capitalisation-to-GDP ratio slips to 95 in FY23, shows data")
Improving outlook, upgrades to keep wheels turning for auto companies
In addition to volumes, margins, too, are expected to expand
 "Improving outlook, upgrades to keep wheels turning for auto companies")
Street Signs: Nifty50 rises, Whirlpool of India may face F&O axe, and more
NSE Nifty50's sharp rebound from its 200-day moving average of 17,400 is what is giving technical analysts the requisite confidence
 "Street Signs: Nifty50 rises, Whirlpool of India may face F&O axe, and more")
M-cap of 5 of top 10 valued cos climbs Rs 88,605 cr; SBI, ICICI top gainers
Five of the top 10 valued firms together added Rs 88,604.99 crore to their market valuation last week, with State Bank of India and ICICI Bank emerging as the biggest gainers
 "M-cap of 5 of top 10 valued cos climbs Rs 88,605 cr; SBI, ICICI top gainers")
Global trends, FPI trading activity to drive mkts in shortened wk: Analysts
Equity markets would be mainly driven by global trends and foreign fund trading activity in the holiday-shortened week, analysts said
 "Global trends, FPI trading activity to drive mkts in shortened wk: Analysts")
Sebi penalises Manpasand Beverages, its directors for flouting norms
Capital markets regulator Sebi has levied fines totalling Rs 33 lakh on Manpasand Beverages and its directors for violating regulatory norms
 "Sebi penalises Manpasand Beverages, its directors for flouting norms")
Markets soar over 1.5% as Adani Group concerns ease; bank stocks lead
Sensex, Nifty log best single-day gains in nearly 4 months
 "Markets soar over 1.5% as Adani Group concerns ease; bank stocks lead")
Valuation comfort remains with PSU banks despite sharp gains
The entire sector has beaten the Nifty (up 6 per cent in the same period) comfortably - the Bank Nifty, which includes both private and PSU banks, is up 16.6 per cent
 "Valuation comfort remains with PSU banks despite sharp gains")
Singapore monitors short-sellers after Adani Group-Hindenburg saga
The Singapore Exchange's regulatory arm may order an independent review if there are areas of concern, said Tharman, who also serves as minister in charge of the Monetary Authority of Singapore
 "Singapore monitors short-sellers after Adani Group-Hindenburg saga")
European ESG funds sell more of their Adani Group shares, shows data
Shares bearing the Adani name now appear in about 480 so-called Article 8 funds - entities promising to promote environmental, social and governance goals under European Union rules
 "European ESG funds sell more of their Adani Group shares, shows data")
GQG Partners overweight on India; HDFC, ICICI Bank top holdings
Adani investment of Rs 15,446-crore is 2% of its total exposure
 "GQG Partners overweight on India; HDFC, ICICI Bank top holdings")
Adani Group stocks jump after US-based investment firm GQG Partners bet
All 10 group stocks rally as market sees $1.87-bn investment as vote of confidence
 "Adani Group stocks jump after US-based investment firm GQG Partners bet")