Page 37 - Indian Markets
TMS Ep496: RBI policy rates, IIM autonomy, markets, licence raj
How long will RBI's wait and watch posture continue? Is the autonomy of IIMs in danger? How are markets reading into RBI's inflation revision? What is licence raj? All answers here
 "TMS Ep496: RBI policy rates, IIM autonomy, markets, licence raj")
LIC jumps 5% on 14x profit growth in Q1; stock up 21% in 3 months
The company's assets under management (AUM) increased 12.41 per cent YoY to Rs 46.11 trillion as on June 30, compared to Rs 41.02 trillion a year ago
 "LIC jumps 5% on 14x profit growth in Q1; stock up 21% in 3 months")
MSCI Global Standard Index review: PFC, REC among 8 entrants; ACC excluded
According to a Nuvama Alternative and Quantitative Research, PFC and HDFC AMC are likely to see inflows of $203 million and $153 million, respectively
 "MSCI Global Standard Index review: PFC, REC among 8 entrants; ACC excluded")
F&O Strategy: Bear spread on Bank Nifty, suggests HDFC Securities
RSI has fallen below benchmark level of 50 for Bank Nifty, indicating a bearish trend, says Nandish Shah of HDFC Securities
 "F&O Strategy: Bear spread on Bank Nifty, suggests HDFC Securities")
Nifty Energy paves way for positive breakout; adopt buy-on-dips strategy
According to Ravi Nathani, an independent technical analyst, charts reveal an encouraging trend for Nifty Energy index, signaling a positive breakout
 "Nifty Energy paves way for positive breakout; adopt buy-on-dips strategy")
Trent rallies 7% to hit a new high in a tepid market on strong Q1 results
Brokerages estimate that Trent's robust performance during challenging times and industry leading performance will continue to warrant premium valuations
 "Trent rallies 7% to hit a new high in a tepid market on strong Q1 results")
Should you subscribe to TVS Supply Chain IPO? Here's what brokerages say
The objective of the issue is repayment of outstanding borrowings and general corporate purposes
 "Should you subscribe to TVS Supply Chain IPO? Here's what brokerages say")
Nifty Pharma nears overbought zone after it scales record high, show charts
According to Ravi Nathani, an independent technical analyst, said that Nifty Pharma's recent surge to all-time high signals strong positive sentiment, but proximity to overbought levels needs caution
 "Nifty Pharma nears overbought zone after it scales record high, show charts")
IRFC marches to new high; stock zooms 38% in a week on stable outlook
The company will continue to receive timely funding from the government through favourable lease agreement, owing to its strategic role as a dedicated funding arm of Indian Railways
 "IRFC marches to new high; stock zooms 38% in a week on stable outlook")
HCC zooms 15% to hit over 5-year high on heavy volumes
For the June quarter (Q1FY24), HCC had reported a consolidated profit of Rs 52.70 crore, as compared to a loss of Rs 280.70 crore in a year ago quarter.
 "HCC zooms 15% to hit over 5-year high on heavy volumes")
Nifty FMCG may see pullback; Auto index eyes breakout post range-bound move
According to Ravi Nathani, an independent technical analyst, Nifty FMCG index may witness a rebound after finding support at 51,636 and 50,650 levels
 "Nifty FMCG may see pullback; Auto index eyes breakout post range-bound move")
Promoter pledging rises marginally to 1.36% in June quarter, shows data
Among the Nifty 50 components, highest promoter pledges were seen in Apollo Hospitals (16.3%), Asian Paints (7.3%), IndusInd Bank (45.5%) and JSW Steel (15%)
 "Promoter pledging rises marginally to 1.36% in June quarter, shows data")
NIIT Learning valued at Rs 5,000 cr; Concord Biotech IPO subscribed 25x
Shares of NIIT Learning Systems-demerged from NIIT-finished at Rs 374 during their trading debut on Tuesday
 "NIIT Learning valued at Rs 5,000 cr; Concord Biotech IPO subscribed 25x")
Hero MotoCorp rides 4% higher on strong Harley Davidson X440 bookings
In an exchange filing, the company said that it would start production of the Harley Davidson X440 in September 2023 and commence deliveries from October onwards
 "Hero MotoCorp rides 4% higher on strong Harley Davidson X440 bookings")
RateGain Travel jumps 9% to hit a new high on healthy Q1 results
The stock surpassed its previous high of Rs 511, touched on August 7, 2023
 "RateGain Travel jumps 9% to hit a new high on healthy Q1 results")
Nifty Financial Services exhibits bullish trend; buy near support levels
According to Ravi Nathani, an independent technical analyst, support levels are projected at approximately 19,525 and 19,425 for Nifty Financial Services index
M&M jumps 3% as Q1 results impresses Street; brokerages remain bullish
In the recently concluded quarter, the company's consolidated revenue rose 19 per cent YoY to Rs 33,892 crore
 "M&M jumps 3% as Q1 results impresses Street; brokerages remain bullish")
Britannia Industries slips 3% as Q1FY24 results misses Street estimates
The biscuit maker's revenue and profit-after-tax (PAT) 8.4/35.6 per cent year-on-year growth in Q1FY24 were below consensus estimates by 2.4/10 per cent, respectively
 "Britannia Industries slips 3% as Q1FY24 results misses Street estimates")
Expect a time, price correction over next few months: Jyotivardhan Jaipuria
'Returns in the market for 2023-24 (FY24) may have been front-ended, and a period of consolidation will be healthy for the markets'
 "Expect a time, price correction over next few months: Jyotivardhan Jaipuria")
Sell Nifty50 if it breaches below 19,300; Bias for Bank Nifty bearish
According to Ravi Nathani, an independent technical analyst, a downward correction is likely for Nifty50 if it breaches below 19,300-mark