Shrikant Chouhan, Head of Research (Retail), Kotak Securities
The benchmark indices achieved new all-time highs, with the Nifty reaching 19,011.25 and the Sensex reaching 64,050.44. The Metal and Pharma sectors outperformed, rallying over 1.5 percent. Technically, the index displayed a breakout formation and a bullish candle, indicating further upward momentum.
Traders will closely watch the 18,900/63,700 level as a trend decider. Above this level, the index could rally towards 19,100-19,150/64,300-64,400. Caution is advised below 18,900/63,700, with traders considering exiting long positions. Analysts remain optimistic, emphasizing the importance of monitoring support and resistance levels.
Kunal Shah, Senior Technical & Derivative analyst at LKP Securities:
The Bank Nifty index experienced a strong bullish momentum as the bulls maintained control and pushed the index higher throughout the day. The previous resistance level of 44000 has now transformed into a strong support level, providing a cushion for the bulls.
On the upside, the immediate hurdle is now at 44500, where call writing is visible. Once this level is surpassed, it is likely to lead to further upside towards the 45000 mark. Traders and investors should adopt a buy approach, using the mentioned support level as a stop loss and waiting for higher levels to be achieved.
Rakeshh Mehta chairman of Mehta Equities
In light of Prime Minister Modi's successful visits to Australia, the United States, and Egypt, it is evident that these trips mark the beginning of a transformative period for the Indian economy. The overwhelmingly positive response received during these visits is expected to have a profound impact on India's global perception. This shift in mindset about India will likely attract substantial investments into the country, propelling economic growth to new heights. Furthermore, the recent milestone achieved by the Nifty, with its crossing of the 19,000 mark for the first time and a record-breaking closing, adds further optimism to the Indian market. The Nifty's strong performance indicates growing investor confidence in the Indian economy and its potential for future growth.
S Ranganathan, Head of Research at LKP Securities
As Benchmark Indices scaled new highs in trade today, sheer buoyancy of stock prices even in the broader markets made several seasoned investors waiting on the sidelines for a meaningful correction mere spectators. The Financial Services Index almost kissed 20K today to register yearly highs as credit demand is picking up even as the Monsoon is seen covering lost ground in several parts of the country. Investors also witnessed a listed Airline in India cross a mcap of Rs 1lac crore in today's trade.
Deepak Jasani, Head of Retail Research, HDFC Securities
Nifty advanced for the second consecutive day to scale fresh life highs on June 28. At close, Nifty was up 0.82% or 154.7 points at 18972.1. Volumes on the NSE were higher than recent average on the monthly F&O expiry day. Broad market indices rose less than the Nifty even as the advance decline ratio closed at 1.14:1.
Global stocks were mostly higher on Wednesday as surprisingly upbeat U.S. economic news eased global growth concerns.
The current upward momentum could continue and 19000-19200 band could be the next resistance for Nifty in the near term. 18646 could be the support on corrections.
Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services
Domestic equities had a dream run with Nifty and Sensex scaling a lifetime high. The index remained in momentum throughout the session to close with handsome gains of 155 points (+0.8%) at 18972 levels. Even Nifty Bank made a new high of 44508 levels. All sectors ended in green with strength seen in Metals, Pharma, and Oil & Gas.
After making several attempts in the past few days, Nifty finally managed to cross its previous highs. Strong institutional flows, healthy macros, and robust earnings growth drove the domestic market toward its new highs. Further, robust U.S. consumer and home sales data soothed the investors’ sentiments. With the onset of the monsoon and RBI taking a rate pause, we expect market momentum to continue and remain buoyant.
Vinod Nair, Head of Research at Geojit Financial Services
After multiple attempts, the domestic market successfully managed to sustain record high levels, thanks to the increased buying interest in heavyweight stocks. The market's bullish momentum was further supported by strong FII inflows and a narrowing current account deficit, both of which positively impacted investor sentiments. The gains were widespread, with the pharma and metal sectors leading the way as top performers, outshining other sectors.
Ajit Mishra, SVP - Technical Research, Religare Broking
It turned out to be an excellent session for bulls as Nifty touched a new milestone of “19000” and gained nearly a percent. The tone was positive from the beginning which further strengthened as the day progressed. Most of the sectors contributed to the move wherein pharma, energy and auto were among the top gainers. Meanwhile, the broader indices failed to attract much traction and ended with modest gains.
The move shows that bulls are in control however lack of decisiveness in the banking pack at the higher level is capping the momentum. We maintain our positive view and suggest aligning positions accordingly. At the same time, traders shouldn’t go overboard and stay focused on risk management citing the possibility of intermediate volatility.
Christy Mathai, Fund Manager- Equity, Quantum AMC:
Indian markets are at an all-time high, driven by strong inflows from the FII the past few months. From a macro standpoint, India stands out relative to peer countries, with inflation moderating, investing activity and growth picking up.
Growth hurdles of Indian economy has corrected to a large extent. Infrastructure has been improving consistently, corporate balance sheet strength has improved, and financial system is in a robust state to fund the potential growth.
Despite the recent rally, fundamentals point to the possibility of strong earnings growth in medium term. Valuations around the long-term average makes a strong case for reasonable returns as earnings upcycle gains strength. Investors could be better off by staying invested and maintain their equity allocation in line with long term asset allocation plans.
Rupee Close:
Indian rupee closed flat at 82.05 per dollar against previous close of 82.03.
Market Close
: Benchmark indices ended higher with Nifty around 19,000.
At close, the Sensex was up 499.39 points or 0.79% at 63,915.42, and the Nifty was up 154.70 points or 0.82% at 18,972.10. About 1713 shares advanced, 1676 shares declined, and 137 shares unchanged.
Biggest gainers on the Nifty were Adani Enterprises, Adani Ports, JSW Steel, Bajaj Auto and Tata Motors, while losers were HDFC Life, Tech Mahindra, Hero MotoCorp, Apollo Hospitals and M&M.
All the sectoral indices ended in the green with metal, power, pharma and capital goods up 1 percent each.
The BSE midcap index up 0.7 percent, while smallcap index ended on flat note.
Jaykrishna Gandhi, Head - Business Development, Institutional Equities, Emkay Global Financial Services.
Overall Indian markets (Nifty) have remained flat (week on week) barring today’s uptick which resulted in Nifty making new highs. Bank Nifty has under-performed during this period and is poised to lead the rally into July on back of the HDFC merger. The US markets continued the positive data with consumer confidence climbing to highest levels since January 2022, new home sales jumped 12.2% to highest levels since February 2022, and lastly home prices were up 0.9% in April for the top 20 cities in US.
The above data increasing makes a case that while there might be another rate hike, but increasingly the odds of recession are reducing making way for a soft landing. This is reflected in the market buoyancy, which eases concerns on the EMs. Crude prices have remained stable to weak despite the Russian coup attempt, weaker crude prices are largely driven by poor China macro as compared to global health being questioned.
In our view till 18450 on Nifty the market bias will remain on the upside only if 18450 is broken should there be a trend reversal in the market.
Share Market Live Updates | Bernstein View On HDFC Bank
-Reiterate buy rating, target at Rs 2,300 per share
-Management aspired to achieve 30% cost to income ratio over next decade
-Benchmark proved elusive for most banks barring large Chinese & few middle eastern banks
-Impending merger would have a positive impact on cost to income ratio
-Merger will push cost to income ratio down to mid 30s from current 40%
-Trajectory from thereon will require normalisation of funding costs
Sensex Live Updates | Crude oil likely trading range would be $65-$70: Mohammed Imran, Research Analyst at Sharekhan by BNP Paribas
The crude oil outlooks look uncertain in the short run amid the deteriorating macro fundamentals in Eurozone, the Chinese growth so far hasn’t met the expected V shape recovery anticipated after curbing down the covid restrictions. The global rating agencies have revised down China’s GDP forecast for rest of 2023 after release of May data.
On the other side, the surge in Russian exports to Asia at a deeper discount has sidelined the impact of OPEC voluntary production cuts and have kept market balance in surplus. Independent reports suggest that Russia has added 1.4 mbpd of oil to world markets versus last year. But the underlying global supplies are getting tighter, with US rigs counts have fallen back to 2021 levels. The hawkish tone of central bankers has once again dampened the investors' sentiments as rate hikes may slow down economic growth. The resilient economic data from the US signals higher chances of rate hikes in September FOMC.
Later in the evening EIA will release weekly inventories data, a larger draw in product inventories like gasoline and distillate may see bounce back in oil prices. WTI August is down 2.5% for the week so far and the likely trading range would be $65-$70/b.
Share Market Live Updates | Jefferies keeps underperform rating on Gujarat Gas
-Underperform rating, target at Rs 420 per share
-Propane economics have been unfavourable in Q1FY24
-Propane price continues to weaken, company defends volumes
-EBITDA margin on Morbi volume is < Rs 1/scm in 1QFY24 on expected price cut in Q2
-Recent CNG price hike provides some margin relief
Stock Market Live Updates | Spot USDINR has resistance at 82.25 and support at 81.85: Dilip Parmar, Research Analyst, HDFC Securities.
The Indian rupee settled with a minor loss following negative Asian currencies. Risk-on sentiments, month-end dollar inflows and lower crude oil prices supported the rupee ahead of Thursday’s holiday. Rupee has been flat for the last three days, hovering at 82.04 as the benchmark index touched the life high backed by foreign fund inflows.
In the near term, spot USDINR has resistance at 82.25 and support at 81.85. The pair is expected to consolidate in a narrow range with a bearish bias.
Trideep Bhattacharya, CIO-Equities, Edelweiss MF
Nifty all-time high reflects the confluence of two factors, namely, the relative earnings resilience of India Inc. based on strong bottom-up drivers in a difficult global macro environment and post late start, the encouraging recent progress of monsoons across India.
Stock Market Live Updates | Kotak downgrades Narayana Hrudalaya to 'reduce'
Brokerage house Kotak Institutional Equities has downgraded its rating on hospital chain Narayana Hrudalaya to ‘reduce’ from ‘add’ earlier, citing weak operating margins as one of the reasons. Narayana Hrudalaya’s EBITDA margin or operating profit margin improved the fastest among peers by 460 basis points year-on-year, but it trails peers by a mile.
Narayana Hrudalaya’s operating margin for FY23 stood at 16.7 percent, said the Kotak Institutional Equities note. Peers like Rainbow Hospitals and Max Healthcare reported 33.8 percent and 28.3 percent margins in FY23, respectively. Read More
Sensex LIVE Updates | Market at 3 PM
The Sensex was up 539.14 points or 0.85% at 63,955.17, and the Nifty was up 161.80 points or 0.86% at 18,979.20. About 1574 shares advanced, 1649 shares declined, and 113 shares unchanged.
| Company | 52-Week High | Day’s High | CMP |
|---|---|---|---|
| JSW Steel | 791.45 | 791.45 | 785.40 |
| Tata Motors | 590.00 | 590.00 | 587.85 |
| Titan Company | 3044.40 | 3044.40 | 3,041.05 |
| NTPC | 190.60 | 190.60 | 189.90 |
| IndusInd Bank | 1346.95 | 1346.95 | 1,341.70 |
| Dr Reddys Labs | 5119.40 | 5119.40 | 5,105.70 |
| Larsen | 2432.90 | 2432.90 | 2,423.95 |
HDFC Life Insurance Company Large Trade | 1.7 crore shares (0.75% equity) change hands in block deal window, reported CNBC-TV18.
Stock Market Live Updates | UBS maintains buy rating on Bharat Electronics, target raises to Rs 140
-Buy rating, target raised to Rs 140 per share
-Well-armed for return accretive growth
-On track for continued profitable growth
-Credible mid-to-long term case for growth outperformance vs defence capex
-Consistent investment to maintain competitive edge, HDD returns sustainable
Share Market Live Updates | TVS Motor Company announces association with Zomato:
TVS Motor Company today announced a strategic association with the food ordering and delivery platform, Zomato. This association is in line with TVS Motor’s commitment towards its green and sustainable mobility solutions. It further strengthens the company’s electrification journey across diverse mobility segments and aligns with Zomato’s efforts to enable the adoption of EVs through last-mile delivery partners.
This collaboration aims to reshape the future of urban transportation by combining TVS Motor’s cutting-edge electric scooter technology with Zomato's extensive network of delivery partners, TVS said in its release.
TVS Motor Company was quoting at Rs 1,316.00, up Rs 10.75, or 0.82 percent.
Mukesh Kochar, National Head - Wealth at AUM Capital Market bullish on Indian economy over the long term
India has emerged as one of the sweet spots as far as investment by FPIs is concerned. They are consistent buyers and have supported the market. At the same time, regular incremental flow from SIP, provident fund & pension fund is also huge. SIP is growing consistently and is currently above 14k crore per month. Domestic Institutions and mutual funds are becoming bigger and bigger.
Post covid we have seen a very big change in most of the business houses. Most of them have created separate family offices and kept the business separate from those family offices. This money is huge and most of it is equity money. PMS /AIFs are growing heavily due to contributions from these family offices. Earnings in some sectors are also catching up and the June quarter is expected to be better. So all these factors are contributing towards the all-time high Nifty.
We believe that these flows will continue as India should continue to attract FPIs money due to its advantage compared to its peer emerging market economies like China, Korea, or Taiwan. These economies have their own challenges like pollution, geo-political risk etc. A very small percentage of Indians are in the stock market or financial investors at this point in time. This number will keep on increasing and the kind of retail money that can come in the future is out of imagination. So by and large we are bullish over the long term.
There are still huge pockets of opportunities in the market. But having said that, one should always know that the market is always volatile in the short term and small corrections are always expected. Investors should focus on asset allocation rather than timing the market and look for the bigger picture in the long term.
Sensex Live Updates | Nifty Bank index up 0.8 percent led by IndusInd Bank, IDFC First Bank, HDFC Bank
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| IndusInd Bank | 1,345.90 | 2.28 | 3.13m |
| IDFC First Bank | 79.20 | 1.21 | 27.64m |
| HDFC Bank | 1,677.15 | 1.12 | 22.11m |
| Axis Bank | 982.30 | 0.93 | 6.73m |
| SBI | 571.30 | 0.92 | 13.00m |
| ICICI Bank | 941.15 | 0.54 | 16.88m |
| AU Small Financ | 752.90 | 0.41 | 1.62m |
| Index | CMP Chg(%) | YTD(%) 1 Week(%) | 1 Month(%) 1 Year(%) |
|---|---|---|---|
| NIFTY AUTO | 14816.50 0.59 | 17.48 0.26 | 4.86 25.22 |
| NIFTY IT | 28900.20 0.35 | 0.97 -0.43 | -1.55 1.37 |
| NIFTY PHARMA | 13599.20 1.28 | 7.95 2.65 | 7.92 11.34 |
| NIFTY FMCG | 51911.40 0.61 | 17.52 -0.04 | 3.02 35.99 |
| NIFTY PSU BANK | 4033.85 0.2 | -6.59 -1.82 | 0.41 62.43 |
| NIFTY METAL | 6212.70 1.39 | -7.60 0.40 | 4.67 30.96 |
| NIFTY REALTY | 515.25 0.08 | 19.33 0.21 | 9.04 32.42 |
| NIFTY ENERGY | 24586.20 1.24 | -4.96 -1.12 | 1.43 0.44 |
| NIFTY INFRA | 5696.00 1.09 | 8.45 -0.24 | 4.32 23.73 |
| NIFTY MEDIA | 1739.70 -0.79 | -12.67 -2.15 | 0.56 -8.60 |
Stock Market Live Updates | Tata Motors hits 52-week high; CLSA sees 20% upside potential
Shares of Tata Motors jumped nearly 3 percent in afternoon trade on June 28 to hit a 52-week high of Rs589.30. Sentiment for the stock has remained upbeat on the back of a strong growth outlook for its luxury arm Jaguar and Land Rover (JLR) and the approval of the public offer for its subsidiary Tata Technologies.
Adding tothe positive sentiment for the carmaker, global research and broking firm CLSA also raised its price target for Tata Motors by nearly 8 percent to Rs 690, which reflects an over 20 percent upside potential from Tuesday's closing price.
Bank Nifty expiry change: Are regulators tacitly acknowledging concentration risk?
A joint statement says that BSE requested NSE to consider shifting of the Bank Nifty expiry to any day other than Friday, as it would otherwise potentially impact the growth of Sensex or Bankex derivatives... Read More
| Company | CMP Chg(%) | Volume | Value(Rs cr) |
|---|---|---|---|
| Max Healthcare | 607.40 -0.37 | 5.45m | 335.29 |
| Power Finance | 215.20 3.54 | 14.14m | 300.34 |
| AB Capital | 192.60 0.16 | 11.13m | 213.16 |
| Alkem Lab | 3,447.15 1.52 | 583.27k | 198.59 |
| REC | 164.35 2.08 | 11.98m | 195.36 |
| Shriram Finance | 1,706.10 0.59 | 1.14m | 193.08 |
| IDFC First Bank | 78.45 0.26 | 24.24m | 189.56 |
| Indian Hotels | 392.00 2.2 | 4.82m | 188.11 |
| Polycab | 3,574.05 2.85 | 510.81k | 181.16 |
| Max Financial | 792.45 2.07 | 2.12m | 169.01 |
Stock Market Live Updates | HDFC Life sees 16.6 mln shares change hands
HDFC Life Insurance was trading 1.3 percent lower to Rs 657 a share after a huge block deal. The stock saw a huge block deal where 16.6 million shares changed hands in bunched trades, according to Bloomberg. However, details of the buyers and sellers were not known.
Daily Voice | Valuations now reasonable, tech firms show business improvement with new age technology, says this CIO
Shailendra Kumar, CIO of Narnolia Financial Services, expects a 'very healthy and stronger bull market for India based on structural fundamental changes in India which should drive a very broad base rally for a longer period of time.'... Read More
Stock Market Live Updates | HDFC, HDFC Bank rise after clarification on merger date
HDFC and HDFC Bank shares continued to rise on June 28, a day after the housing financier clarified that July 1 is simply the 'tentative' date for completion of its merger with HDFC Bank.
The record date of July 13 is also tentative and subject to completion of certain formalities, HDFC Ltd said in an exchange filing on June 27, just hours after chairman Deepak Parekh spelled out the two dates. Click To Read More
Market at 2 PM
The Sensex was up 558.43 points or 0.88 percentat 63,974.46, and the Nifty was up 173.90 points or 0.92percentat 18,991.30. About 1,615 shares advanced, 1,575 shares declined, and 114 shares were unchanged.
| Company | CMP Chg(%) | Conc. Price Chg% | Volume |
|---|---|---|---|
| Eldeco Housing | 829.00 9.16 | 620.30 33.65 | 81,303 |
| V-Marc | 84.45 9.96 | 63.50 32.99 | 417,000 |
| Sree Rayalaseem | 739.00 17.10 | 593.30 24.56 | 835,932 |
| Blue Chip | 0.80 6.67 | 0.65 23.08 | 64,376 |
| Rane Madras | 736.05 2.07 | 611.20 20.43 | 750,759 |
| Siti Networks | 0.90 5.88 | 0.75 20.00 | 2,481,675 |
| JBM Auto | 1,171.00 8.25 | 1,008.10 16.16 | 2,445,259 |
| Windsor | 61.60 10.30 | 53.15 15.90 | 2,379,286 |
| Axiscades Tech | 499.50 4.99 | 431.55 15.75 | 39,878 |
| JITF Infralogis | 540.90 5.00 | 467.30 15.75 | 57,741 |
Stock Market Live Updates | CreditAccess Grameen climbs on $200-million overseas loan deal
Shares of CreditAccess Grameen gained for the second straight session on June 28 morning, a day after it inked a $200-million external commercial borrowing deal, marking the first social ECB loan in the country’ s microfinance industry and the fourth from India.
The country’s largest Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI) said in an exchange filing on June 27 it signed a syndicated social loan facility of up to $200 million, qualifying as ECB under the automatic route of the Reserve Bank of India. Also Read
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
HDFC Bank has been underperforming the Nifty for the last 3 years in spite of its decent growth. This underperformance is likely to change post-merger. The bank which has an enviable track record and excellent execution capabilities will gain from the synergy unleashed by the merger. Presently HDFC Bank is trading at 13.5 times earnings which is a discount to the 5-year average PE of 20. From the Price to Book perspective also the stock is trading at 2.2 times versus the 5-year average PB of 3.5.
Institutional selling to comply with the 10% holding ceiling has been weighing on the stock. This will be over once the merger is affected. The prospects of the merged entity look very bright and this will attract more institutional investment from sector specific funds and ETFs which are not bound by the 10% ceiling.
| Index | CMP Chg(%) | YTD(%) 1 Week(%) | 1 Month(%) 1 Year(%) |
|---|---|---|---|
| NIFTY 50 | 18999.55 0.97 | 4.94 0.76 | 2.70 19.87 |
| NIFTY BANK | 44365.85 0.55 | 3.21 1.16 | 0.79 31.87 |
| NIFTY Midcap 100 | 35432.05 0.38 | 12.45 -0.51 | 6.00 32.25 |
| NIFTY Smallcap 100 | 10796.20 0.39 | 10.94 -0.33 | 7.85 26.53 |
| NIFTY NEXT 50 | 43348.35 0.36 | 2.75 -1.27 | 3.99 17.36 |
Citi View On Zomato
-Buy rating, target at Rs 84 per share
-Underscore industry-wide nature of slowdown in food delivery biz from H2CY22
-Confirm an industry-wide aggressive push towards profitability
-Zomato is ahead on profitability
Sensex LIVE Updates | IdeaForge Technology IPO issue subscribed 28 times, retail portion booked 55 times on Day 3
The initial public offering (IPO) of IdeaForge Technology, the drone manufacturing company, continues to draw investors in big numbers, with the issue subscribed 27.93 times by the morning of June 28, the third day of bidding.
Investors have bought 12.98 crore equity shares against an offer size of 46.48 lakh, subscription data available on exchanges shows.
Retail investors have bid 54.70 times the portion reserved for them. Employees have bid 49.63 times their quota. As many as 13,112 shares have been set aside for them at a discount of Rs 32 a share to the final issue price.
High networth individuals bought 45.37 times the allotted quota and the portion reserved for qualified institutional investors was subscribed 10.17 times.
Sensex Live Updates | Cyient DLM IPO offer subscribes 5.23 times on Day 2
The public issue of Cyient DLM has been has been oversubscribed by 5.23 times on June 28, the second day of bidding. Investors have purchased 6.97 crore equity shares, surpassing the offer size of 1.33 crore shares.
Retail investors and high-net worth individuals (non-institutional investors) remained at the forefront to support the IPO, putting in bids 18.66 times and 7.49 times the portions set aside for them.
Employees have bid 72 percent shares of the allotted quota and that of qualified institutional buyers 4 percent.
The issue, which was subscribed 3.53 times on its first day, June 27, will remain open till June 30.
Dhiraj Relli, MD & CEO, HDFC Securities
Nifty made a new all time high on June 28, triggered by buying from institutions and retail/HNI segments. Improving US economic data and hints from China about fresh stimulus measures have helped improve sentiments.
Upside momentum could take Nifty even higher from here and if the El Nino fears subside, we may see a more sustainable upmove. India shines as an attractive destination for investors from across the globe offering steady growth, falling inflation, better external trade/services situation, improving corporate earnings trajectory, prudent growth enhancing and fiscal policies.
Sensex, Nifty scale all-time highs: Will the rally sustain?
The benchmark Sensex hit a record high of 63,948.84 points, while the Nifty touched an all-time high of 18,982 points. Analysts feel that the rally in Indian equities is unlikely to be affected by a potential Fed hike, or a deficient monsoon as the market has already factored them in... Read More
Share Market Live Updates | Jefferies raises ITC's target price on shift to asset-right strategy for hotels
Foreign broking firm Jefferies has raised its target price for ITC to Rs 530 from Rs 520, indicating a 19 percent upside from current levels. The upgrade comes on the back of ITC considering an alternate structure for the hotel business.
"ITC Hotels is the second largest listed chain which has been focusing on an 'asset-right' strategy. We apply 18x EV/Ebitda multiple pegging at a discount to our fair value for the leader, Indian Hotels at 23x. Accordingly, we raise ITC's target price," said Jefferies in a report dated June 27. Click To Read More
Sensex LIVE Updates | Market at 1 PM
The Sensex was up 527.76 points or 0.83 percentat 63,943.79, and the Nifty was up 162.30 points or 0.86percentat 18,979.70. About 1,745 shares advanced, 1,410 shares declined, and 116 shares were unchanged.
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Adani Enterpris | 2,392.45 | 4.73 | 24.99m |
| Adani Ports | 744.75 | 3.4 | 8.99m |
| JSW Steel | 783.85 | 2.8 | 4.08m |
| Tata Motors | 587.50 | 2.51 | 9.81m |
| Titan Company | 3,029.15 | 1.8 | 805.91k |
| SBI Life Insura | 1,308.95 | 1.75 | 1.04m |
| NTPC | 189.25 | 1.72 | 8.18m |
| Dr Reddys Labs | 5,106.50 | 1.61 | 528.98k |
| Reliance | 2,532.95 | 1.46 | 2.80m |
| IndusInd Bank | 1,334.00 | 1.37 | 1.90m |
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| HDFC Life | 660.35 | -1.03 | 6.32m |
| Hero Motocorp | 2,817.45 | -0.94 | 410.87k |
| Wipro | 381.75 | -0.22 | 1.59m |
| Kotak Mahindra | 1,841.30 | -0.18 | 1.98m |
Share Market Live Updates | Motilal Oswal positive on Craftsman’s diversification business; reiterates 'buy'
Craftsman Automation shares have risen 18 percent over the last month. Stake sale by a member of the promoter group last week has not dampened sentiment. That’s because the block was picked up by a clutch of institutional investors like Goldman Sachs Asia Equity Portfolio, Axis Mutual Fund, and Tata Emerging Asia Liquid Fund, among others.
Motilal Oswal has increased the target multiple for Craftsman Automation to 20x from 18x to factor in the continued strong growth momentum as well as capital efficiencies. The domestic broking firm has reiterated a buy call on the stock with a target price of Rs 4750. Read More
Stock Market Live Updates | SBI shares gain 3% on nod to acquire SBI Pension Fund
The shares of State Bank of India (SBI) surged 2.3 percent on June 28 after the Executive Committee of the Central Board (ECCB) gave its nod to acquire the entire 20 percent stake held by SBI Capital Markets in SBI Pension Funds.
SBI Pension Fund is the largest pension fund manager in India with around 37 percent market share as of May 31, 2023. Read More
| Company | Bid Qty | CMP Chg(%) | Today Vol 20D Avg Vol |
|---|---|---|---|
| Nucleus Softwar | 12388.00 | 1101.80 10 | 30615 30099.05 |
| Jay BharatMarut | 2502.00 | 289.55 9.99 | 113029 36315.25 |
| Apollo Micro Sy | 114744.00 | 58.01 5 | 23048 247780.15 |
| Axiscades Tech | 174602.00 | 499.30 4.99 | 4396 19666.85 |
| Hardwyn | 35454.00 | 37.85 4.99 | 316377 357525.00 |
| Cinevista | 72392.00 | 12.64 4.98 | 28038 6663.60 |
| Brightcom Group | 4126336.00 | 30.00 4.97 | 26662753 7187180.50 |
| 21st Cen Mgt | 59595.00 | 24.33 1.97 | 14139 6711.60 |
Read More
Stock Market Live Updates | Orchid Pharma closes QIP issue; stock hits 52-week high
Orchid Pharma said the board members have approved the closure of the QIP issue (qualified institutional placement) on June 27, and finalised the issue price of Rs 403.93 per share, which is at a discount of 5% on the the floor price of Rs 425.19 per share.
Orchid Pharma touched a 52-week high of Rs 519.70 and quoting at Rs 491.00, down Rs 4.05, or 0.82 percent.
Share Market Live Updates | GR Infraprojects conducts investigation on pillar sinking incident at its highway project in Bihar
GR Infraprojects is conducting investigation in pillar sinking incident at project location of SPV GR Galgalia Bahadurganj Highway. The incident of under-construction pillar sinking was occurred on June 23 at one of its project locations in Kishanganj over Mechi river, Bihar.
G R Infraprojects was quoting at Rs 1,274.75, up Rs 17.85, or 1.42 percent.
