Tech View: A break above 24,500 could take Nifty to 25,000

DHARMESH SHAH, HEAD OF TECHNICALS, ICICI SECURITIESWhere is Nifty headed this week?We expect Nifty to continue trade with a positive bias and gradually head towards 24,700 by July end. Higher peaks and troughs supported by market breadth signifies inherent strength (currently 86% of stocks are trading above 50-day EMAs), and the global setup continues to … Read more

GAIL, Suzlon Energy among 31 new additions by 11 mutual funds in May – New Additions

Jun 15, 2024, 01:51:43 PM IST Eleven pure equity mutual funds added a total of 31 new stocks in May across market capitalisations. They also increased their holding in 33 stocks during the month, according to a Nuvama note. Together they have bought shares worth Rs 47,700 crore, the note said. A look into which … Read more

SBI shares: SBI, GAIL among 10 stocks that crashed up to 25% on election results day – ​Top Laggards

Jun 04, 2024, 02:12:38 PM IST Indian shares fell sharply on Tuesday as early vote-counting trends showed Prime Minister Narendra Modi’s Bharatiya Janata Party-led alliance was likely to win a majority, but the extent of the victory was unclear as its lead was narrower than predicted. Following these trends, several stocks crashed by up to … Read more

fund managers: MFs lap up commodity and metal stocks; some buy Kotak Bank, too

Fund managers made fresh purchases in companies that could benefi t from the strength in global economies, including the US. They increased exposure to metals, commodities and oil & gas. Fund managers believe the Fed is likely to cut rates later this year, which will lead the US dollar to depreciate resulting in rise in … Read more

Nifty: A hold above 22,222 can take Nifty towards 22,775: Analysts

Technical indicators, declining volatility, and a stable Put-Call Ratio imply a consolidation phase in the market, according to analysts. They suggest that if the Nifty maintains levels above 22,222, a new upward movement could drive it towards 22,775. Stocks like Escorts, Ashok Leyland, BHEL, Canara Bank, Coal India, IRCTC, Dixon, Exide Industries, Havells, and IDFC … Read more

GAIL: After GSPL, tariff cuts for GAIL also can’t be ruled out. Gajendra Singh of PNGRB explains why

Gajendra Singh, Member, PNGRB (Petroleum & Natural Gas Regulatory Board), says PNGRB has come out with pricing revision because the companies, because of the volume growth, had made more than 12% returns Since this is a regulated entity, PNGRB is only ensuring that whatever the fine print was, if they are making returns of more … Read more

Energy, auto companies bet big on LNG trucks

Improved road infrastructure and attractive pricing of liquefied natural gas is catalysing energy companies and auto majors to gear up to serve the long-haul LNG trucking segment. To cater to these medium and heavy commercial vehicles, oil marketing companies are planning to expand the compressed natural gas dispensing infrastructure in their fuel retail outlets to … Read more

Hot Stocks: Brokerage view on GAIL, ICICI Lombard, PNB Housing and Infosys

Brokerage firm Jefferies maintained an underperform rating on GAIL India, Morgan Stanley maintained an overweight on Infosys, PNB Housing, and ICICI Lombard. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Morgan Stanley on IT: Infosys, HCL Tech, Wipro Morgan Stanley maintained an overweight rating on Infosys but … Read more

Acre puts Nagarjuna Fertilizers up for sale at double buy price

Distressed debt aggregator Acre Asset Reconstruction Company (ARC) has put Nagarjuna Fertilizers and Chemicals on the block less than a year after taking over the ₹3,858 crore debt of the company. Acre is seeking ₹1,600 crore from bidders – double the ₹811 crore it paid to a seven-bank consortium in March last year, documents accessed … Read more