Markets extended its losing streak for second day. At close, Sensex fell over 100 pts while Nifty failed to hold 24,850 mark.
Hindustan Zinc | CMP: Rs 452 | The stock declined on June 17 after Vedanta offloaded a 1.71 percent or 7.2 crore shares of the company through block deals on Wednesday, with the transaction size to be around Rs 3,323 crore.
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BSE | CMP: Rs 2,632 | The stock slipped before clawing back most of the losses, after Jefferies reiterated a 'Hold' rating. The brokerage flagged near-term pressure from the upcoming shift in derivatives expiry — to Tuesday on NSE and Thursday on BSE — calling it a short-term overhang. The stock has now logged losses for six straight sessions.
One MobiKwik Systems | CMP: Rs 244 | The parent company of digital payments platform MobiKwik fell on June 18 as the mandatory six-month lock-in period for pre-IPO shareholders came to an end today.
Auto stocks | Nifty Auto index 2 percent from the day’s low after reports suggested that India could turn to Australia as an alternative source for rare-earth magnets. These materials are critical to electric and hybrid vehicles, and India currently imports nearly 80 percent of them from China.
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IndusInd Bank | CMP: Rs 846 | The stock climbed on June 18 after global brokerage firm Nomura upgraded its rating on the stock to “buy.” It also raised the target price to Rs 1,050 from Rs 700, indicating a potential upside of 25 percent from current levels. According to Nomura analysts, most of the bank’s legacy problems have now been addressed. They expect return on assets (RoA) to reach 1 percent by FY27.
AU Small Finance Bank | CMP: Rs 795 | The stock hit new all time high on June 18 in an otherwise weak market on expectations of steady growth and improving profitability outlook.
Electronics Mart India | CMP: Rs 154 | The stock saw their steepest rise ever on June 18 amid heavy volumes in an otherwise muted market. Shares of the company have risen for the third consecutive day, and have surged over 30 per ent from its recent lows.
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Avenue Supermarts | CMP: Rs 4,228 | The parent company of DMart, has announced the opening of its store in Agra. Opening of store in Agra seen as positive and will track expansion pace in UP given large opportunity, said analysts at Morgan Stanley.
One97 Communications | CMP: Rs 892 | Foreign brokerage Bernstein reiterated its Outperform rating on One 97 Communications, also known as Paytm, setting a target price of Rs 1,100. This represents a potential upside of approximately 25 percent from current levels.
Orient Cement | CMP: Rs 253 | The stock saw a sharp fall on June 18 in over five years. Earlier, on March 23, 2020, the stock price of Orient Cement had plunged 20 percent. Since June 9, in the past eight trading days, the market price of Orient Cement has slipped 29 percent after closure of open offer made by Ambuja Cements.
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