Page 1538 - Markets News
Shapoorji Pallonji and Company divests 1.25% stake in energy firm
The 3.6-million share OFS garnered bids for 7.8 million shares from institutional investors on Friday
 "Shapoorji Pallonji and Company divests 1.25% stake in energy firm")
Sentiment will remain buoyant on easing monetary fears, says Vinit Sambre
As inflationary pressures unbind, corporate earnings growth will draw level, says Vinit Sambre, head-equities, DSP Investment Managers
 "Sentiment will remain buoyant on easing monetary fears, says Vinit Sambre")
Nifty gains in 7 of last 8 weeks dust off recession fears, for now
On Friday, the Sensex gained 130 points, or 0.2 per cent, to end the session at 59,462
 "Nifty gains in 7 of last 8 weeks dust off recession fears, for now")
Industrial segment likely to drive growth of Bharat Forge stock
Export growth is expected to remain strong in the current financial year, given the stable truck demand from the US and EU markets
 "Industrial segment likely to drive growth of Bharat Forge stock")
Sensex ends choppy day 130pts up ahead of inflation data; Nifty below 17700
CLOSING BELL: Among sectors, the Nifty IT and Pharma indices fell 1.15 per cent each, while the Nifty Oil and Gas index rose over 2 per cent
 "Sensex ends choppy day 130pts up ahead of inflation data; Nifty below 17700")
Stock of this footwear company has zoomed 101% from its listing day low
Metro Brands hit a new high of Rs 857, gaining 5 per cent on the BSE in Friday's intra-day trade
 "Stock of this footwear company has zoomed 101% from its listing day low")
This Tata Group stock claims Rs 10,000-mark; zooms 133% in one year
Tata Elxsi hit a new high of Rs 10,150, rallying 7 per cent on the BSE in Friday's intra-day trade
 "This Tata Group stock claims Rs 10,000-mark; zooms 133% in one year")
Gas stocks in focus: MGL, IGL may zoom up to 16%; Gujarat Gas faces hurdle
The Oil Ministry has directed to divert natural gas from industries to city distribution companies to cool-off the elevated domestic gas prices
 "Gas stocks in focus: MGL, IGL may zoom up to 16%; Gujarat Gas faces hurdle")
Page Industries shares hit 52-week high on strong Q1 earnings
Shares of Page Industries hit a 52-week high in morning trade on Friday after the apparel manufacturer reported a multi-fold jump in the first quarter net profit
 "Page Industries shares hit 52-week high on strong Q1 earnings")
GVK Power & Infra resumes trading after a year, stock locked at lower limit
Till 11:27 am, a combined 1.8 mn equity shares changed hands and there were pending sell orders for around 9 mn shares on the NSE and BSE, exchanges data show. The stock last traded on August 2, 2021
 "GVK Power & Infra resumes trading after a year, stock locked at lower limit")
Bharat Forge rallies 8% on stable business outlook post Q1 results
Looking ahead in to Q2FY23, the management expects stable performance across both the domestic and export markets despite uncertainty arising from the macro- economic headwinds.
 "Bharat Forge rallies 8% on stable business outlook post Q1 results")
Fineotex Chemicals extends rally on strong Q1 results; zooms 72% in 2 mths
In Q1FY23, Fineotex Chemicals reported 167 per cent YoY growth in EBITDA at Rs 26.20 crore, while margin expanded 381 bps YoY to 19.3 per cent.
 "Fineotex Chemicals extends rally on strong Q1 results; zooms 72% in 2 mths")
Here's why Mehul Kothari expects NMDC, Wipro to gain in the near term
According to the technical analyst from Anand Rathi, NMDC can rally to Rs 124, while Wipro can surge to Rs 477-odd level.
Stocks to watch: Bata India, Page Inds, NMDC, Apollo Hospitals, Oil India
Stocks to watch today: LIC, ONGC, HAL will report their June quarter results (Q1FY23) on Friday, August 12; NMDC hikes prices of lump iron ore by Rs 200 a tonne and fines by Rs 100 a tone.
 "Stocks to watch: Bata India, Page Inds, NMDC, Apollo Hospitals, Oil India")
Will edible oil stocks run out of steam?
The govt has directed edible oil suppliers to cut prices by as much as Rs 40 per litre to bring down inflation. Will players like Adani Wilmar and Patanjali Foods bear the brunt? Let us find out
 "Will edible oil stocks run out of steam?")
Rupee weakens on heavy dollar demand from importers, oil marketing firms
Lower US CPI a relief, but rupee still seen testing 80/$1 on elevated CAD
 "Rupee weakens on heavy dollar demand from importers, oil marketing firms")
PGIM India MF, ADIA sell Newgen Software shares worth Rs 45 crore
PGIM India Mutual Fund (PGIM MF) and Abu Dhabi Investment Authority (ADIA) sold a total of 12.20 lakh shares of the software company, as per bulk deal data available with the National Stock Exchange
 "PGIM India MF, ADIA sell Newgen Software shares worth Rs 45 crore")
Consensus price targets for Nifty50 companies signal greater upside
A study by domestic brokerage Motilal Oswal has looked at the average price target of 50 stocks by all analysts to arrive at a target for the Nifty
ITC, Bajaj twins: 3 in 4 Nifty50 stocks conquer 200-DMA; more upside likely
Among individual stocks, Adani Ports, Axis Bank, Bajaj Auto, Mahindra & Mahindra, Reliance Industries, State Bank of India, Larsen & Toubro and Maruti Suzuki have conquered their 200-DMAs
 "ITC, Bajaj twins: 3 in 4 Nifty50 stocks conquer 200-DMA; more upside likely")
BofA Sec sees more mkt corrections, revises 2022-end Nifty target to 15,600
However, when compared to the brokerage's own call in June, this is an upward revision of the target because it had previously estimated the Nifty at 14,500 points