Page 153 - Market Trends
Budget cheer? Here's what drove 1,400-pt rally in Sensex, Nifty to new high
Reliance and IT stocks led the market rally as investors cheered the fact that Budget 2024 resisted the temptation of populist measures, and stuck to the fiscal prudence path.
 "Budget cheer? Here's what drove 1,400-pt rally in Sensex, Nifty to new high")
Gokaldas Exports to acquire Matrix Clothing's apparel biz; stock zooms 9%
The management is expecting a positive momentum for in the calendar year 2024 and expects sequential growth to pick up over the next quarters
 "Gokaldas Exports to acquire Matrix Clothing's apparel biz; stock zooms 9%")
This state-owned civil construction stock has zoomed over 100% in 1 month
Thus far in the financial year FY24, the stock price of NBCC (India|) has skyrocketed by 375 per cent.
 "This state-owned civil construction stock has zoomed over 100% in 1 month")
This state-owned housing finance stock has zoomed 305% in past 1 year
Shares of HUDCO rallied 10 per cent to hit a new high of Rs 189.65 in Thursday's intra-day trades on the back of near two-fold jump in average trading volumes.
 "This state-owned housing finance stock has zoomed 305% in past 1 year")
Godrej Consumer Products soars 12%, hits new high on Ebitda beat in Q3
Analysts believe the execution machinery being put in place by GCPL is yielding good results with improvement seen in underlying metrics alongside higher cash-generation
 "Godrej Consumer Products soars 12%, hits new high on Ebitda beat in Q3")
L&T sinks 7% as margins disappoint, weakness likely in order wins till June
The company's management indicated the pace of new orders in the domestic market had slowed and there would be weakness for the two quarters between now and June 2024 owing to the Lok Sabha elections
 "L&T sinks 7% as margins disappoint, weakness likely in order wins till June")
PB Fintech surges 13%, hits 2-year high on first quarterly profit in Q3
The stock of a fintech company was trading at its highest level since January 2022. It had hit a record high of Rs 1,470 on November 17, 2021.
Vedant Fashions hits 18-month low, slips 7% on weak outlook
According to the management, the overall performance in 9MFY24 got impacted due to significantly lower weddings nationally, general slowdown impacting consumer sentiments
 "Vedant Fashions hits 18-month low, slips 7% on weak outlook")
Azad Engg zooms 25% in 2 days on signing 7-year contract with Rolls-Royce
Rolls-Royce signed a long term contract of seven years with AEL to produce/supply critical engine parts for their Defence / Military Aircraft engines
 "Azad Engg zooms 25% in 2 days on signing 7-year contract with Rolls-Royce")
ITC extends fall, slips 5% in 3 days as Q3 results miss Street estimates
Analysts expect the stock to remain muted in the near-term given a weaker overall environment
 "ITC extends fall, slips 5% in 3 days as Q3 results miss Street estimates")
EPACK Durable lists at 4% discount to issue price on NSE
Post listing, the stock price of household appliances company fell to Rs 211.20, down 8 per cent when compared to its issue price of Rs 230 per share.
 "EPACK Durable lists at 4% discount to issue price on NSE")
Mid, Smallcap indices stay afloat in a choppy January; analysts cautious
The BSE Midcap and Smallcap indices have gained up to 4 per cent this month, as of Jan 25, while the benchmark BSE Sensex has declined over 2 per cent.
 "Mid, Smallcap indices stay afloat in a choppy January; analysts cautious")
505 BSE stocks locked in upper circuits; Shakti Pumps, HPIL, BPL zoom 20%
IFCI, MSTC, Texmo Pipes & Products, Punjab Communications, Jindal Photo and Manaksia Steels are among 17 stocks has frozen 10 per cent circuit on the BSE
 "505 BSE stocks locked in upper circuits; Shakti Pumps, HPIL, BPL zoom 20%")
Adani stocks fire up: Adani Enterprises, Adani Energy, ATGL surge up to 7%
Adani Total Gas, Adani Power, Adani Ports and Special Economic Zone, Adani Green Energy and Ambuja Cements are up 3% to 5%.
 "Adani stocks fire up: Adani Enterprises, Adani Energy, ATGL surge up to 7%")
AU Small Finance Bank hits 9-mth low, tanks 12% on disappointing Q3 results
The bank's Gross Non-Performing Assets (GNPAs) rose to 1.98 per cent in Q3FY24 from 1.81 per cent in Q3FY23 and 1.91 in Q2FY24
 "AU Small Finance Bank hits 9-mth low, tanks 12% on disappointing Q3 results")
Tech Mahindra slips 6% as investors book profit post Q3FY24 results
Ahead of the result, the stock rallied 13 per cent in two weeks. It had hit a 52-week high of Rs 1,416 on January 23
 "Tech Mahindra slips 6% as investors book profit post Q3FY24 results")
DLF, Prestige, Sobha: CLSA downgrades select realty stocks. Here's why
Most positive factors in terms of a pick-up in housing demand and office space absorption, CLSA said, are already priced in.
 "DLF, Prestige, Sobha: CLSA downgrades select realty stocks. Here's why")
Dhanlaxmi Bank at 9-yr high, hits 10% upper circuit; zooms 69% in two weeks
The stock of private sector lender was trading at its highest level since August 2014
 "Dhanlaxmi Bank at 9-yr high, hits 10% upper circuit; zooms 69% in two weeks")
Stock from Madhuri Madhusudan Kela's portfolio has zoomed 54% in 2 months
According to shareholding pattern data, Madhuri Madhusudan Kela, the wife of ace investor Madhusudan Kela, held 2.94 million equity shares or 5.85 per cent stake in Sangam (India) at the end of Q3
 "Stock from Madhuri Madhusudan Kela's portfolio has zoomed 54% in 2 months")
Bajaj Auto hits new peak, gains 4% in weak market on healthy Q3 results
The two-wheeler major reported its highest-ever quarter revenue at Rs 12,114 crore and EBITDA at Rs 2,430 crore for the quarter ended December 2023.
 "Bajaj Auto hits new peak, gains 4% in weak market on healthy Q3 results")