Share Market HIGHLIGHTS: Nifty ends at record 22,197 as market rises for 6th day in a row; Sensex jumps 349 pts boosted by financial stocks
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty50 and Sensex continued to rise for the seventh trading session in a row on Tuesday, February 20, aided by strong buying interest in financial stocks. The 50-scrip index crossed the 22,122 level to register a fresh record closing high, after scaling an all-time peak of 22,215.6 the course of the day.
Here are some stocks that made headlines:
- What brokerages suggest on Coal India shares
- Bernstein initiates coverage on Power Grid
- Citi super bullish on HDFC Bank post-Analyst Day, sees 45% upside
- Godrej Consumer Products announces East Africa divestment
- Vibhor Steel Tubes shares enter listed space
- Bharti Airtel, Bajaj Finserv, MCX among analysts' top picks
Catch all the highlights of the February 20 session on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.com's blog:
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty50 and Sensex continued to rise for the seventh trading session in a row on Tuesday, February 20, aided by strong buying interest in financial stocks. The 50-scrip index crossed the 22,122 level to register a fresh record closing high, after scaling an all-time peak of 22,215.6 the course of the day.
Here are some stocks that made headlines:
- What brokerages suggest on Coal India shares
- Bernstein initiates coverage on Power Grid
- Citi super bullish on HDFC Bank post-Analyst Day, sees 45% upside
- Godrej Consumer Products announces East Africa divestment
- Vibhor Steel Tubes shares enter listed space
- Bharti Airtel, Bajaj Finserv, MCX among analysts' top picks
Catch all the highlights of the February 20 session on Dalal Street, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.com's blog:
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Share Market Today: Broader indices Nifty Midcap 100, Nifty Smallcap 100 decline
| Index | Feb 20 close | Change (%) |
| NIFTY 500 | 20,271.90 | 0.15 |
| NIFTY MIDCAP 100 | 49,248.45 | -0.13 |
| NIFTY SMALLCAP 100 | 16,172.35 | -0.53 |
The Nifty 500, NSE's broadest index, however, finishes 0.2 per cent stronger.
Share Market Today: Power Grid, HDFC Bank, Axis Bank, NTPC rise most among 27 Nifty50 gainers; Hero MotoCorp, Bajaj Auto, Eicher Motors top blue-chip losers
Top Nifty50 gainers
| Stock | Feb 20 close | Change (%) |
| POWERGRID | 288.4 | 4.36 |
| HDFCBANK | 1,453.00 | 2.53 |
| AXISBANK | 1,087.10 | 2.27 |
| NTPC | 346 | 2.14 |
| KOTAKBANK | 1,766.80 | 2.04 |
| SBILIFE | 1,515.00 | 1.76 |
| BPCL | 663.6 | 1.69 |
| INDUSINDBK | 1,507.00 | 1.58 |
| APOLLOHOSP | 6,748.00 | 1.46 |
| GRASIM | 2,198.00 | 1.36 |
Top Nifty50 losers
| Stock | Feb 20 close | Change (%) |
| HEROMOTOCO | 4,665.70 | -3.85 |
| BAJAJ-AUTO | 8,290.00 | -2.58 |
| EICHERMOT | 3,830.05 | -1.87 |
| COALINDIA | 447.8 | -1.74 |
| TCS | 4,035.00 | -1.68 |
| CIPLA | 1,450.00 | -1.38 |
| BAJAJFINSV | 1,605.95 | -0.88 |
| INFY | 1,685.40 | -0.84 |
| WIPRO | 531.95 | -0.75 |
| HCLTECH | 1,662.80 | -0.74 |
Share Market Today: Nifty Bank closes 1.2% higher; Nifty IT worst hit among NSE's sectoral indices
| Index | Feb 20 close | Change (%) |
| NIFTY MEDIA | 2,223.00 | 2.27 |
| NIFTY FINANCIAL SERVICES | 20,800.85 | 1.23 |
| NIFTY BANK | 47,094.20 | 1.2 |
| NIFTY REALTY | 887 | 1.16 |
| NIFTY PRIVATE BANK | 23,534.70 | 1.02 |
| NIFTY OIL & GAS | 11,943.35 | 0.2 |
| NIFTY HEALTHCARE INDEX | 12,122.90 | 0.17 |
| NIFTY PSU BANK | 7,101.20 | 0 |
| NIFTY FMCG | 53,882.50 | -0.11 |
| NIFTY PHARMA | 18,993.00 | -0.23 |
| NIFTY CONSUMER DURABLES | 31,933.85 | -0.29 |
| NIFTY METAL | 7,955.80 | -0.32 |
| NIFTY AUTO | 20,354.25 | -0.62 |
| NIFTY IT | 38,029.70 | -0.87 |
Share Market Today: Nifty ends at record 22,197, Sensex jumps 349 pts as market rises for 6th day in a row
NIFTY AT ALL-TIME HIGH | Nifty scales fresh peak of 22,196.6
Share Market Today LIVE | Bernstein initiates coverage on Power Grid; here is why brokerage is positive on PSU power stock
Power Grid Corporation shares sees buying interest on Tuesday, bucking a largely negative trend in the Nifty Energy index, after Bernstein initiated coverage on the state-run power transmission stock with an 'outperform' rating and a target price of Rs 315. The Power Grid stock gain by as much as Rs 12.1, or 4.4 per cent, to Rs 288.6 apiece on BSE, coming within inches of an all-time high of Rs 289.5 registered on February 5. The foreign brokerage's target implies an upside of 13.9 per cent in the PSU stock from Monday's close.
What does the brokerage make of Power Grid?
According to Bernstein:
- Power Grid is likely to register a 30 per cent increase in capex over the next two years
- Inter-state transmissions, batteries and smart meters are the new growth areas for the state-owned utility major
- Power Grid is a low-beta stock, with:
- 18 per cent ROE
- 8 per cent PAT growth
- Power Grid has access to steady cash from existing assets. Read more
Share Market Today LIVE | Is there more upside in this multibagger PSU stock after more than doubling investors’ money in a year?
Many brokerages have revised their targets on Coal India after the state-run dry fuel behemoth revised its production targets for the current financial year as well as the next while lowering an annual volume guidance.
According to CLSA, which maintained an ‘outperform’ rating on CIL and raised its target price to Rs 480 from Rs 330 per share after the analysts’ call, the mining giant is likely to see strong volume growth and improvement in its product mix owing to higher non-power sales.
The foreign brokerage also highlighted that the drop in the e-auction premium in the March quarter, as indicated by Coal India, could be partly offset by higher volumes.
On the call, Coal India’s management also guided for cooling off followed by stabilisation of its e-auction premium, which is the price fetched by the company above the notified prices. Read more
Stocks to Buy | Bharti Airtel, Bajaj Finserv, MCX among analysts' top picks
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Rakesh Bansal, Avinash Gorakssakar, Kunal Saraogi and Sumeet Bagadia share their top stock recommendations in this special segment, Pick of the Day.
On the top analysts' 'buy' list are stocks such as Bharti Airtel, Can Fin Homes, MCX and Bajaj Finserv. Read more
Share Market Today LIVE | Minda Corporation block deal: Fund houses buy Rs 407 crore worth of shares; stock hits all-time high
Minda Corporation shares jump over 5 per cent to record an all-time high of Rs 449.95 apiece on BSE. The uptrend in the stock comes after many fund houses bought stakes in the company via multiple block deals.
According to Trendlyne data, public shareholder Bela Agarwal sold the entire stake of 4.54 per cent at Rs 403 per share in the company. On the other hand, among many fund houses, prominent players like Motilal Oswal bought 43.7 lakh shares, Kotak Mutual Funds bought 45.43 lakh shares, and Axis Mutual Fund bought 2,50,000 shares. Read more
Share Market Today LIVE | Coal India cuts volume guidance, moderates production target; here’s what analysts say
Coal India Ltd (CIL) shares fall after the state-run mining major trimmed its 2023-24 volume guidance by one per cent but said it expects growth of 9.0 per cent in the next financial year. The PSU stock drops as much as 4.3 per cent to Rs 441.4 apiece on BSE.
On an earnings call post-market hours on Monday, the coal behemoth moderated its production target from 780MT and 850MT to 770MT and 838MT for FY24 and FY25, respectively, citing land issues in one of the mines of its subsidiary South Eastern Coalfields Ltd (SECL).
Key takeaways from Coal India's Q3 earnings call
Apart from a cut in volume guidance in FY24 and moderation in the production target, Coal India's management also guided for cooling off followed by stabilisation of its e-auction premium, or the price fetched by the company above the notified prices. Read more
Share Market Today LIVE | Nifty above 22,150, Sensex leaps nearly 250 pts aided by financial stocks
Traders' Diary | Buy, sell or hold strategy on Maruti Suzuki, Tata Steel, LTIMindtree, Power Grid, over a dozen other stocks today
Zee Business research team shares exclusive research on 20 stocks that investors and traders can track on Tuesday, February 20. Check out the complete list of stocks on analysts Ashish Chaturvedi and Varun Dubey's radar.
Here's the complete list of investment and trading ideas for the day:
Kushal Gupta
- Buy Century Textiles shares in the cash segment for a target price of Rs 1,500 with a stop loss at Rs 1,430
- Buy Glenmark Pharma futures for a target of Rs 885 with a stop loss at Rs 852
- Buy the Rs 5,500 put option of LTIMindtree at Rs 103 for a target of Rs 150 with a stop loss at Rs 92
- Technical pick: Sell HDFC Life shares for a target price of Rs 570 with a stop loss at Rs 595
- Fundamental pick: Buy Maruti Suzuki India shares for a one-year target of Rs 12,650
- Investment idea: Buy Sona BLW Precision Forgings shares for a one-year target of Rs 730. Read more
Share Market Today LIVE: Deepak Fertilisers, EID Parry, Sona BLW Precision Forgings, MMTC, Paytm rise most among 200-odd BSE 500 gainers; Federal Bank, NIACL, MRPL, Coal India, Hero MotoCorp top laggards
Here are the top gainers and losers in the broadest index in the bourse:
Image: BSEIndia.com
Share Market Today LIVE: HDFC Bank, Power Grid, ICICI Bank help Sensex rise above flatline; Infosys, TCS, ITC play spoilsport
Take a look at the top movers in the basket at this hour:
Image: BSEIndia.com