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 extended gains to a sixth straight session on Tuesday, February 20, with the 50-scrip gauge registering a second straight record closing high. 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.coms 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:
Latest Updates
Thank you! That's all today on Zeebiz.com's blog on Dalal Street
For all other news related to business, politics, tech and auto, follow us on Twitter, Facebook, LinkedIn and Instagram.
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
Share Market Today LIVE: Power Grid, HDFC Bank top Sensex gainers, rise up to 4%; Infosys, HCL Tech top losers
Here's how the 30-scrip basket fares at this hour:
Image: BSEIndia.com
Block Deal | Whirlpool of India shares under pressure; what should investors do?
After a block deal of the appliance maker's equity, the stock of Whirlpool of India trade below over 2.50 per cent on BSE. In the block deal, as many as 2 crore shares exchange hands. The deal is for the sale of 16 per cent of Whirlpool of India's equity. After the block deal, the stock of Whirlpool of India Is trading down by 2.52 per cent, or Rs 33.50, at Rs 1297.95 on BSE.
Earlier, Reuters reported that the Indian appliance maker was set to sell its 24 per cent stake in the company. It said Goldman Sachs was advising Whirlpool on the deal, as per the term sheet. Read more
Share Market Today LIVE | Bigger, Better, Stronger! Citi super bullish on HDFC Bank post-Analyst Day, sees 45% upside
HDFC Bank shares trade with gains of 1.44 per cent at Rs 1,437.5, a day after the investors' meet on NSE. The country's leading private sector lender noted that it is focused on long-term growth and that earnings will get better with time. Further, the lender highlighted that the problems at the bank are the result of the reverse merger with the parent company, HDFC. Additionally, liquidity at the bank has improved to an extent, and amid the crunch, the bank will not focus on high-cost deposits.
HDFC Bank's management also mentioned that it will continue to invest in bank branches, and the distribution capability at the lender will also benefit other group companies. Also, attrition was a problem at the bank, but it is gradually improving.How do global brokerages view HDFC Bank down the line?
Brokerage firm Citi has iterated its 'buy' on the stock with a target of Rs 2050, implying an upside of 45 per cent. Read more
Godrej Consumer Products to exit Godrej East Africa Holdings; what should investors do?
Godrej Consumer Products Ltd (GCPL) shares rise on Tuesday, February 20, after the consumer goods company, along with a wholly-owned subsidiary, inked an agreement to sell its entire stake in wholly-owned subsidiary Godrej East Africa Holdings, Mauritius, to HKG Africa Weave Ltd for $3.5 million (Rs 29.1 crore at $1 = Rs 83). The Godrej Consumer Products stock gains as much as Rs 1.5 per cent to Rs 1,248.5 apiece on BSE to trade within Rs 51 of an all-time high registered on February 1. Read more
Vibhor Steel Tubes Limited IPO Listing | Stellar Debut! Shares list at 181% premium - Buy Sell or Hold
Vibhor Steel Tubes Limited shares open at Rs 421 on the BSE, a premium of 178.81 per cent to the issue price of Rs 151 while the shares open at Rs 425 on the NSE, a premium of 181.46 per cent to the issue price of Rs 151. Read more
Share Market Today LIVE | Deepak Fertilisers soars over 10% after LNG supply deal with Norway's Equinor
Deepak Fertilisers soar over 10 per cent to Rs 546 on BSE on Tuesday (February 20, 2024) after the company signed a long-term supply agreement for LNG supply with Norway's Equinor.
What is Deepak Fertilisers' deal with Equinor?
Deepak Fertilisers said that it has entered into a long-term supply agreement for Liquefied Natural Gas (LNG) with Equinor, an international energy company headquartered in Norway. Read more
Anil Singhvi Market Strategy | Important levels to track in Nifty50, Nifty Bank today
Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 21,975-22,050 levels and a strong buy zone at 21,850-21,950 levels on Tuesday, February 20.
For the Nifty Bank, he expects support to come in at 46,175-463,25 levels and a strong support zone at 45,900-46,050 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Currency Update | Rupee rises 2 paise to 82.99 against US dollar
Share Market Today LIVE | Nifty below 22,100, Sensex drops nearly 150 pts
Nifty 50
Source: NSESensex
Source: BSE
Share Market Today LIVE | Should you buy HDFC Bank, Godrej Consumer Products, Coforge, other stocks today? Here is what brokerages recommend
As Dalal Street enters the February 20 session, brokerages have several stocks on their radar. Here's what Citi, Jefferies, Macquarie, CLSA, and Bernstein make of stocks such as HDFC Bank, Godrej Consumer Products, Coforge, Biocon, Glenmark Pharmaceuticals, Power Grid Corporation of India and ONGC:
HDFC Bank share price target:
Citi has maintained a 'buy' call on the HDFC Bank stock with a target of Rs 2,050.
Coal India share price target
Jefferies has maintained a 'buy' call on the Coal India stock with a target of Rs 520.
CLSA has maintained an 'outperform' rating on Coal India shares with a target of Rs 480.
Citi has maintained a 'neutral' rating on Coal India with a target of Rs 430.
Biocon share price target:
Jefferies has maintained an 'underperform' rating on the Biocon stock with a target of Rs 250. Read more
Stocks to Watch | HDFC Bank, NBCC, Data Patterns, Astra Microwave Products
Here are some stocks that will be in the spotlight on Tuesday, February 20:
Results on February 20: ABB India will announce its October to December quarter numbers.
Tasty Bite Eatable: The company's Chief Financial Officer (CFO) resigned from his post.
NBCC (India): The order received multiple orders around worth Rs 369.05 crore.
Birla Precision Technologies: The company's board approved raising funds by issuing and allotting up to 7,16,500 equity shares on a preferential basis. Further, it also approved raising funds by issuing and allotting up to Rs 34,50,000 fully convertible warrants into equity shares.
The board also approved an Interim Dividend at the rate of Rs. 0.05. The record date is fixed at February 29. Read more
Share Market Today LIVE | GIFT Nifty futures indicate a sluggish start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are down 29.9 points or 0.13 per cent at 22,141.5 ahead of the opening bell on Dalal Street.
Good morning! Welcome to Zeebiz.com's blog on the stock market today
Follow this space to catch minute-by-minute market action, the views of Zee Business Managing Editor Anil Singhvi and other experts, investment ideas, stock picks, brokerage calls and much more through the day.
Happy trading, and happy investing!
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.