"The index witnessed a brief consolidation near 15,700-15,800 throughout the day and took a leap on the upside towards the end of the session. The hourly chart shows that the Nifty50 is moving up in an upward sloping channel and can test the upper channel line near 16,000
The stock with a market capitalisation of more than Rs 63,000 crore hit a 52-week high of Rs 1241 on 28 October 2021 but failed to hold on to the momentum. It closed at Rs 806 on 24 June 2022 which translates into a downside of over 35 per cent.
Michelin suspended its manufacturing activities in Russia on March 15 due to supply difficulties following Moscow's invasion of Ukraine. "It is technically impossible to resume production, due in particular to supply issues, amid a context of general uncertainty," the company said in a statement.
Amfi's forthcoming list of stock categorisation is due, which will take into account data from January- June 2022, a period that saw record FPI outflows and high volatility on Dalal Street. ICICI Securities believes the type of stocks that will get upgraded from small to midcap and from midcap to largecap categories do not indicate a risk-off environment as most of them belong to cyclical and capital-intensive sectors, such as financials and industrials.On the flip side, quite a few of the downgrades are from growth, quality and defensive buckets, ICICI Securities said. Below are the stocks which are likely to enter or exit various mcap categories.
JP Morgan has kept its overweight view on Zomato intact after the Blinkit acquisition, which is being seen as an attractive strategic move by the brokerage firm. It has a target price of Rs 115 on Zomato, signalling a 75 per cent rise over its last close.
Risk-averse investors may follow the proportion of 30:50:10:10 across equity, debt, gold and other asset classes in a normal scenario and may stick to that with a small leeway,” Deepak Jasani, Head of Retail Research, HDFC securities said.
Stocks that were in focus included names like Route Mobile which rallied more than 8 per cent, Timken India which was up nearly 4 per cent, and Ambuja Cements which closed with gains of over a per cent on Monday.
However, the company remains vigilant about the implications of the current geopolitical tensions, elevated commodity prices, slowing external demand, supply disruptions, capital outflows, higher inflation in emerging economies and the withdrawal of monetary accommodation in developed economies.
The buyback is expected to increase the pre-tax return on capital employed (RoCE) by 100 basis points to 18% with a 2% likely rise in the projected earnings per share (EPS) for FY23. According to the Bloomberg consensus estimates, Bajaj Auto’s projected standalone EPS for FY23 is Rs 197 per share.
The EBP program supports the diversion of sugarcane and surplus sugar towards the manufacturing of ethanol which has now become the key focus point for the future of the sugar industry. The government also releases procurement prices for ethanol to divert sugarcane toward production of ethanol.
The company has recently gained new capabilities with its JV with Vopak, which enables the company to increase the products it can handle across liquids and even new gases like ammonia and butadiene, Nomura India said.
“While there is a bubble in stocks like Tesla and Netflix there are a lot of individual stock opportunities available and investors can build a portfolio of companies with good fundamentals and fair valuations,” says Vikas Gupta, Chief Investment Strategist, Omniscience Capital.