CLSA maintains 'buy' rating on Bajaj Auto, raises target price to Rs 4,619
Dilip Buildcon declared lowest bidder for projects worth Rs 1,373 crore
Morgan Stanley keeps Equal-weight rating on Macrotech Developers, target Rs 1,145
USFDA issues Zero observation to Gland Pharma after inspection at API facility at Visakhapatnam
Patanjali Foods Q3 profit rises 16% to Rs 269 crore; shares down 5%
Nomura keeps buy rating on Tata Motors, target Rs 508
T+1 settlement rule comes into effect from today
Morgan Stanley maintains ‘Overweight’ rating on Dr Reddy's Laboratories, target at Rs 5,099
Growth-inflation dynamics will continue to evolve, expect a change in the tax slabs: Expert
Zydus Lifesciences says US FDA issued nil observations for company's Moraiya, Ahmedabad manufacturing unit
Adani Enterprises FPO subscribed 1% on Day 1, retail portion booked 1%
Sensex plunges 1,100 points, Nifty around 17,550
Nirmal Bang maintains 'buy' on Cipla, target Rs 1,263
Nifty PSU Bank index plunges 5 percent dragged by Indian Bank, Central Bank of India, Indian Overseas Bank
Nifty PSU Bank index plunges 5 percent dragged by Indian Bank, Central Bank of India, Indian Overseas Bank
Chennai Petroleum Corporation Q3 profit jumps 752% QoQ to Rs 144 crore
Credit Suisse downgrades Dixon Technologies to Neutral, target Rs 4,500
Kotak Institutional Equities keeps ‘Buy’ rating on Cipla, target Rs 1,255
Sterlite Technologies posts 15 percent jump in its Q3 net profit at Rs 46 crore
Indices trade near the day's low with Nifty around 17550
Glenmark Pharma posts net profit at Rs 105 crore in the quarter ended December 2022
Macquarie keeps ‘Outperform’ rating on Cipla, target Rs 1,235
Greaves Cotton collaborates with UK-based Eta Green Power
Torrent Pharma Q3 profit rises 14% to Rs 283 crore; share price fall
UN cuts India's 2023 growth forecast by 20 basis points
BSE Midcap index falls 2.5 percent dragged by ACC, Union Bank of India, HPCL
BSE Smallcap index shed 2 percent dragged by GTL Infrastructure, Dixon Technologies, Kiri Industries
SJVN sells its entire stake in Bhutanese JV Kholongchhu Hydro Energy for Rs 354.7 crore
Macquarie keeps ‘Outperform’ rating on Dr Reddy's Laboratories with a target at Rs 4,915 per share
Sharekhan Maintain 'Buy' on Bajaj Auto with Price Target of Rs 4,151
Jefferies maintains ‘Buy’ rating on Tata Motors, target Rs 565
Jio launches true 5G in all six states of the North-East circle
Indices at day's low with Nifty around 17,600; Sensex plunges 900 points
Amara Raja Batteries Q3 profit grows 53% YoY to Rs 222 crore, revenue up 12%
Ceat reports reports Q3 profit at Rs 35.4 crore, revenue grows 13% to Rs 2,727 crore
Dr. Reddy's launched Difluprednate Ophthalmic Emulsion in the US market
Jefferies keeps ‘Buy’ rating on Bajaj Auto, target at Rs 4,300
Nirmal Bang maintains 'Accumulate' rating on Dr Reddy's Laboratories, target Rs 4,745
Adani Group stocks plunges 5-20% as Adani Enterprises FPO opens
DLF plans to launch premium housing project in Gurugram
VIP Industries Q3 profit grows 32% to Rs 44 crore
Patanjali Foods hits lower circuit as Q3 EBITDA falls 12 percent
About 854 shares have advanced, 2261 shares declined, and 106 shares are unchanged
Dixon Technologies tanks 18% in worst-ever fall on weak Q3, FY23 guidance cut
Anupam Rasayan posts 13 percent rise in net profit at Rs 43 crore
BSE Healthcare index up 0.5 percent led by Unichem Laboratories, Aarti Drugs, Dr Reddy's Laboratories
Blue Dart falls as Q3 profit tanks 28% to Rs 89 crore
DLF in focus after Q3 profit surges 37% to Rs 519 crore
Solara Active Pharma successfully completes WHO inspection at Cuddalore facility, Tamil Nadu
Nifty breaches 17,700 for the first time since October 27, 2022
LTIMindtree partners with Duck Creek and Microsoft to build a cloud migration solution for insurers
Adani Enterprises FPO opens, price band at Rs 3,112-3,276 per share
Nifty below 17,800, Sensex tanks 550 points; Tata Motors, Bajaj Auto top gainers
Nifty Energy index declines 2.6 percent dragged by Adani Transmission, Adani Green, Reliance Industries
BSE Auto index up nearly 2 percent led by Tata Motors, Bajaj Auto, Ashok Leyland
Nifty Bank index sheds over 1 percent dragged by ICICI Bank, Axis Bank, HDFC Bank
Dr Reddy's Laboratories shares gain 3% post 77 percent growth in consolidated net profit
Cipla share price gains after company reports 10% jump in its Q3 net profit
Tata Motors share price up nearly 5 percent on strong Q3 results
Bajaj Auto share price up over 5% as company reports better numbers in Q3
Adani Group says it's exploring legal action against Hindenburg
Markets are likely to start on a firm note: Prashanth Tapse
USFDA provides exception to Glenamrk Pharma baddi facility to supply Atovaquone Oral Suspension
Dollar drops vs yen, near 9-month low to euro on central bank bets
Tata, Jindal, Adani, Vedanta among companies in race to buy NMDC Steel
CBI registers case against GTL Ltd directors, bankers in Rs 4,760 crore bank fraud
Suzuki to launch six battery electric vehicles in India by FY30
Asian shares at 9-month high after resilient US economic data
Adani Enterprises FPO to open today, anchor book fully subscribed
Oil prices edge up on strong US economic data, Chinese demand hope
Bajaj Auto Q3 net profit zooms 23% to Rs 1,491 crore
DLF posts almost 37% increase in Q3 consolidated net profit
Dr Reddy’s reports 77% growth in Q3 consolidated profit
Tata Motors back in black with Q3 net profit at Rs 2,958 crore; beats estimates
Cipla Q3 profit rises 10% YoY to Rs 801 crore, revenue up 6%
Asian markets trade firm; Straits Times, Kospi up 0.5 percent each
SGX Nifty indicates a positive start for the Indian indices
Wall Street closes green as GDP data eases recession worries
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 57,925.28 | -289.31 | -0.50% |
| Nifty 50 | 17,076.90 | -75.00 | -0.44% |
| Nifty Bank | 39,616.90 | -382.15 | -0.96% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Hindalco | 398.80 | 6.05 | +1.54% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| SBI | 512.75 | -8.80 | -1.69% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty FMCG | 45267.40 | 157.90 | +0.35% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty PSU Bank | 3643.60 | -64.70 | -1.74% |
Markets finally ended a month-long consolidation phase with a breakdown and lost over 1.5%. Participants were in a cautious mood from the beginning and a sharp sell-off in the banking, IT and energy majors further soured the sentiment as the day progressed.
Consequently, Nifty slipped below the major support zone of long term moving average i.e. 200 EMA at 17550 intraday and finally settled at 17,604.35 levels. The broader indices too witnessed a severe fall and shed in the range of 1-1.5%.
The carnage in the Adani group stocks cascaded across the board and the banking sector faced the maximum pressure. Participants were already facing challenges due to mixed global cues and caution ahead of the Union Budget and this breakdown has further added to worries.
We are now eyeing the 17,250-17,400 zone as the next support while any rebound toward the 17,750 level would attract selling pressure. We thus reiterate our view to prefer hedged positions and aligning trades according to the trend.
Bank Nifty had fallen below the critical support level of 41800, leading to a quick drop towards 40000. Besides, the index has sustained below the crucial moving average 50 EMA.
The RSI is in bearish crossover and falling. Over the short term the index may remain under selling pressure. On the lower end, support is visible at 40000; whereas on the higher end, resistance is visible at 40800.
The sharp slump in the Indian market was triggered by an unfavourable research report on Asia’s richest promoter group companies. This is also affecting the banking stocks even though the results of the sector are optimistic due to high group lending, indicating potential risk.
PSU banks are the most impacted compared to private banks owing to high exposure. The FIIs' cautious stance ahead of the Union Budget and FOMC meetings also fuelled the collapse.
The Nifty started the week on a positive note however witnessed steep selling pressure in the second half of the week. As a result, it broke down from the consolidation range, which it was witnessing for the last one month.
It broke the support zone of 17,800-17,760, which will now act as a resistance as per the principle of role reversal.
On the downside, the Nifty has halted near the 61.8% retracement of the Sept – Dec 2022 rise & 200 DEMA, which are near 17,550. Today’s low of 17,493 will be a key support. If that is breached then the decline can continue till 17,300.
Markets went into a tailspin on broad-based selling pressure as recessionary fears in the west and nervousness ahead of the US FOMC meeting on interest rate decision pummeled stocks at will.
Investors cashed out of banking, power, realty and oil & gas stocks ahead of the budget and pulled down key indices below the psychological levels.
During the week, the Nifty traded below the 20-day SMA (Simple Moving Average) mark and also breached the important support level of 17,800 and also formed a long bearish candle on weekly charts.
Technically, a minor pullback rally is possible if the index trades above 17,650. On the flip side, selling pressure is likely to accelerate only after the dismissal of 17,550 and below the same the index could slip till 17,400. Extended correction could drag the index till the 200-day SMA or 17,300.
Indian rupee closed marginally higher at 81.52 per dollar against previous close of 81.59.
: benchmark indices ended lower on January 27 with Nifty around 17600.
At Close, the Sensex was down 874.16 points or 1.45% at 59,330.90, and the Nifty was down 287.70 points or 1.61% at 17,604.30. About 870 shares have advanced, 2588 shares declined, and 97 shares are unchanged.
Adani Enterprises, Adani Ports, SBI, ICICI Bank and IndusInd Bank were among the biggest losers on the Nifty, while gainers were Tata Motors, Bajaj Auto, Dr Reddy’s Laboratories, ITC and Divis Laboratories.
PSU Bank, oil & gas, power and metal indices down 4-6 percent.
The BSE midcap index shed 1.2 percent and smallcap index declined 1.9 percent.
Broking firm has maintained ‘Buy’ rating and raised the target price to Rs 4,619 per share.
Lower raw material costs, better FX realisation & richer product mix led to expansion in margin.
Increase earnings estimates to 14%/15% for FY24/25 on higher revenue & margin assumptions, reported CNBC-TV18.
Bajaj Auto was quoting at Rs 3,941.25, up Rs 223.85, or 6.02 percent on the BSE.
TTK Prestige touched a 52-week low of Rs 694.75 and quoting at Rs 809.15, up Rs 26.35, or 3.37 percent.
Dilip Buildcon has declared as L-l bidder for the lenders floated by the National Highways Authority oflndia on Hybrid Arnuity basis in the state of Andhra Pradesh.
Dilip Buildcon was quoting at Rs 214.70, down Rs 2.70, or 1.24 percent.
-Equal-weight rating, target at Rs 1,145 per share
-Pre-sales momentum, new project acquisition & deleveraging remain key objectives
-Company is on track with FY23 guidance
-Demand outlook for residential in Mumbai remains good
