Nifty ended Thursday expiry on a flat note but formed a bullish counterattack-type pattern on the daily chart despite a weak global trade setup. The index is currently holding immediate and key support at its 20-daily EMA, and maintaining this level will help attract bullish strength, according to chartists. The short-term trend of Nifty continues … Read more
Shares of Engineering and construction major Larsen and Toubro (L&T) jumped 2% on Thursday to its day’s high of Rs 3589.80 on BSE after the company reported a consolidated net profit of Rs 2,786 crore for the quarter ended June 30, 2024. The company’s revenue from operations increased 15% year-on-year (YoY) to Rs 55,120 crore, … Read more
As the dust around the Union Budget 2024 settles down, potential losers in the market as a result of announcements or rather lack of it, are coming to the fore. Sectors that are likely to get negatively impacted in the near term are banks, NBFCs, asset management companies (AMCs), real estate, consumer, defence, OMCs and … Read more
Vedanta Limited, the metals to oil conglomerate, plans to use the proceeds of QIP for repaying or prepaying lenders, including Oaktree, for the company and its subsidiary The Zinc Ventures Limited (THLZV). The funds raised will help reduce overall indebtedness, cut debt servicing costs, and improve the debt-to-equity ratio. It will enable better utilisation of … Read more
Nifty ended Friday’s session 186 points higher above the 24,500-mark as it ended the sixth consecutive week with gains and formed The index must break through the 24,600-24,620 resistance level to trigger fresh bullish momentum. Until then, investors should consider buying on dips in the Nifty, with support near 24,170, Hrishikesh Yedve of Asit C … Read more
Bengaluru-based Zinka Logistics Solutions, the country’s leading platform for truck operators, has filed its draft red herring prospectus (DRHP) with market regulator Sebi to raise funds through an IPO. The IPO is a mix of fresh issuance of Rs 550 crore and an offer for sale (OFS) of up to 2.16 crore equity shares by … Read more
A look at some of the latest stock recommendations by analysts. These stocks are expected to return between 16% and 33% as per analysts’ price targets. Shivalik Bimetal Controls BROKERAGE: JM FINANCIAL Price Target: Rs 730 CMP: Rs 588.30 Upside: 24% Simultaneous play in switchgear, smart metering and EVs Emerged as a monopoly in the … Read more
Mumbai: The initial public offering (IPO) of Stanley Lifestyles was subscribed 96.98 times on the final day of the offer Tuesday. The ₹537-crore issue of the luxury furniture brand was priced at ₹351-369 per share. The qualified institutional buyer (QIB) portion was subscribed 222.1 times, the non-institutional investor (NII) portion 119.52 times while the retail … Read more
While noting that Zomato is well ahead of IPO-bound peer Swiggy, global brokerage firm CLSA has a target price of Rs 248 per share on the new-age stock. Prosus, which holds a 32.7% stake in Swiggy, in its annual results release, disclosed that Swiggy’s overall GMV growth (including food delivery, quick commerce, and dining out … Read more
The Securities and Exchange Board of India (Sebi) said JM Financial will continue to face restrictions on acting as lead manager for public debt issues until March 31, next year. The regulator’s order on Thursday follows the earlier restrictions it had imposed on the firm through an interim order issued on March 7, which JM … Read more
