Share Market HIGHLIGHTS: Sensex ends volatile session up 195 pts at 72,500, Nifty at 21,983 led by IT, auto stocks
Share Market Today LIVE: Domestic equity benchmarks Nifty 50 and Sensex were steady on Thursday, February 29 amid a choppy trade. Catch minute-by-minute updates of all the action in the Indian share market today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.coms blog.
Share Market Today LIVE: Domestic equity benchmarks Nifty 50 and Sensex were steady on Thursday, February 29 amid a choppy trade.
Catch minute-by-minute updates of all the action in the Indian share market today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
Latest Updates
Share Market Today: Sensex ends volatile session up 195 pts at 72,500, Nifty at 21,983 led by IT, auto stocks
Share Market Today LIVE | Cipla, Lupin, Sun Pharma, other healthcare-related stocks fall; what's keeping investors cautious?
Pharmaceutical stocks are a mixed bag in a volatile market on Thursday after drug pricing regulator NPPA fixed the the retail prices of 100 medicines, including medicines used in the treatment of cholesterol, diabetes, pain, fever, infection and excessive bleeding, and certain calcium and vitamin D3 supplements. Besides, a bunch of hospital- and healthcare services-related stocks remained under pressure after the Supreme Court said that the government's failure to standardise the charges for such services will lead to the enforcement of Central Government Health Scheme (CGHS) rates.
The NPPA list included certain medicines manufactured by pharmaceutical companies such as Sun Pharma, Alkem Labs, Torrent Pharma, Cipla, Lupin and Mankind. Read more
Share Market Today LIVE | Should you stay away from mid- and small-cap space for the time being? Here's what Anil Singhvi suggests
The small- and mid-cap indices has witnessed a sharp decline on Wednesday. While the small-cap index has slid by 5 per cent, the mid-cap index has slipped by 3.4 per cent in intra-day trade. Such a sudden fall has made investors wonder if the fabled run of these two categories was ending. Is it a blip or will the decline continue? Zee Business managing editor and market guru Anil Singhvi decodes the reasons behind the downfall and suggests what investors should do amid such a decline.
Singhvi says that after the one-sided rally in mid-and small-cap stocks, a fall of 4-5 per cent is not worrisome. Read more
IPO Update | Mukka Proteins IPO fully subscribed on Day 1
Mukka Proteins launched its initial public offering (IPO) on Thursday, February 29. The issue will conclude on Monday, March 4.
Mukka Proteins IPO subscription status
According to provisional exchange data, Mukka Proteins IPO's share sale received bids for 6,12,97,090 shares against 5,60,00,435 shares on offer, translating into a subscription of 1.09 times on Thursday, the first day of the bidding process so far. Read more
Category Subscription (No. of times the equity reserved) Qualified institutional buyers Nil Non-institutional investors 0.57 Retail investors 1.94 Overall 1.09 Source: Exchange data IPO Update | Exicom Tele Systems IPO subscribed 51.38 times so far on final day
Exicom Tele Systems IPO opened for public subscription on Tuesday, February 27, 2024. The three-day subscription window of the EV chargers maker will close on Thursday, February 29, 2024. The public issue is available at a price band of Rs 135-142 per share.
Exicom Tele Systems IPO subscription status
According to provisional exchange data, Exicom Tele Systems IPO's share sale received bids for 93,63,24,400 shares against 1,82,23,540 shares on offer, translating into a subscription of 51.38 times on Thursday, the third day of the bidding process so far. Read more
Category Subscription (No. of times the equity reserved) Qualified institutional buyers 16.61 Non-institutional investors 101.87 Retail investors 90.44 Overall 51.38 Source: Exchange data IPO Update | Platinum Industries IPO subscribed 39.85 times so far on final day
PVC and CPVC additives maker Platinum Industries launched an initial public offering (IPO) on Tuesday, February 27. The subscription window will be open for from 10 am to 5 pm for three trading days, till February 29. The Platinum Industries IPO comprises fresh issuance of 1.38 crore shares, estimated to be worth Rs 235.3 crore.
Platinum Industries IPO Subscription status
According to provisional exchange data, Platinum Industries IPO's share sale has received bids for 38,38,68,882 shares against 96,32,988 shares on offer, translating into a subscription of 39.85 times, on Thursday the third day of the bidding process so far. Read more
Category Subscription (No. of times the equity reserved) Qualified institutional buyers 5.48 Non-institutional investors 88.9 Retail investors 38.47 Overall 39.85 Source: Exchange data IPO Update | Mukka Proteins IPO opens for subscription; check out price band, lot size, allotment date, other details
Mukka Proteins launched its initial public offering (IPO) on Thursday, February 29. The issue will conclude on Monday, March 4.
Here are some important things to know about the Mukka Proteins IPO.
Mukka Proteins IPO price band
The company that manufactures fish meal, fish oil, and fish soluble paste has fixed a price band of Rs 26–28 apiece for its Rs 224 crore IPO.
The issue is entirely a fresh issue of up to 8 crore equity shares, aggregating to Rs 224 crore at the upper end of the price band, with no offer-for-sale (OFS) component, the Manguluru-based company said.
Mukka Proteins IPO Lot size
Investors can bid for a minimum of 535 equity shares and in multiples of 535 equity shares thereafter.
Mukka Proteins IPO allotment date
The basis of the allotment of shares under the IPO of Mukka Proteins is set to be finalised on March 5.
Mukka Proteins IPO listing date
Mukka Proteins stock is likely to be listed in the secondary market on March 7. The stock will be traded on the bourses, BSE and NSE. Read more
Share Market Today LIVE | This airport-related stock is down over 40% from its all-time high; should you buy it at current levels?
DreamFolks Services' initial public offering (IPO) was a hit, as the Rs 562 crore issue was overall subscribed 56.68 times. The airport service aggregator company launched its three-day IPO on August 24, 2022, and the shares were listed on the bourses on September 6, 2022. It was a good debut as the stock was listed at Rs 505, a 55 per cent premium to the issue price of Rs 326 on the BSE.
After the debut, shares continued to rise and hit an all-time high of Rs 846.75 on August 2, 2023; this implied around a 160 per cent rally from the issue price. However, after the record high levels, the stock corrected, and currently, it trades around Rs 495.
Should you buy the stock?
Motilal Oswal Financial Services (MOFSL) has initiated coverage on the stock with a 'buy' rating. Read more
Traders' Diary | Buy, sell or hold strategy on TCS, BHEL, Maruti Suzuki, Honda, Bajaj Auto, over a dozen other stocks today
In this edition of Traders' Diary, the Zee Business research team shares exclusive research on 20 stocks that investors and traders can track on Thursday, February 29. Check out the complete list of stocks on analysts Ashish Chaturvedi and Kushal Gupta's radar.
Here's the complete list of investment and trading ideas for the day:
Ashish Chaturvedi
- Buy Triveni Engineering shares in the cash segment for a target price of Rs 350 with a stop loss at Rs 330
- Buy Coal India March futures for a target of Rs 443 with a stop loss at Rs 430
- Technical pick: Buy Tata Consultancy Services shares for a target price of Rs 4,530 with a perspective of 3 months
- Fundamental pick: Buy Pfizer shares for a target of Rs 5,500 with a perspective of 12 months
- Investment idea: Buy Honda India Power Products shares for a one-year target of Rs 3,020. Read more
Share Market Today LIVE | SEBI’s directive to AMFI to protect investors in small, midcaps timely and appropriate, say experts
The broader market, or mid- and small-cap indices, are trading with significant cuts, after the capital markets regulator, Securities and Exchange Board of India (Sebi), on Wednesday asked the Association of Mutual Funds in India (AMFI) to set up a framework for protecting investors in small and midcaps amid frothy valuations. It was the second consecutive day of decline in the second-rung stocks.
AMFI, as per a report by Reuters, asked members to moderate inflows into small and mid-cap funds and protect investors from large outflows after strong inflows raised concerns of a potential crash. The industry requested in a letter dated February 27.
The directive comes following a communication from the market regulator Sebi, which has also asked fund houses to provide more information about the risks associated with such funds. The fund houses have been given 21 days to comply. Read more
Share Market Today LIVE | Brightcom Group slides nearly 7% after Sebi continues ban on promoter Suresh Reddy
Brightcom Group shares slip nearly seven per cent on BSE after Sebi continued its ban on the company's promoter, Suresh Kumar Reddy. The stock of Brightcom Group is trading lower by 4.16 per cent, or Rs 0.73, at Rs 16.83 on BSE.
What is SEBI's confirmatory order?
In a confirmatory order released by Sebi on Wednesday, the regulator said that its restriction imposed on Reddy would continue in a case regarding irregularities in preferential allotments of shares made by the company. Read more
Share Market Today LIVE | Nifty Bank trades over 150 pts lower
Source: NSE
Share Market Today LIVE | Indiabulls Housing Finance slides nearly 5% after ED raids its offices in PMLA case
Indiabulls Housing Finance shares slip nearly five per cent on BSE after the Enforcement Directorate (ED) raided the company's Delhi offices. A day after Zee Business reported that the ED was taking action against Indiabulls Housing Finance, the stock of the company is trading 2.33 per cent, or Rs 4.35, lower at Rs 182.30 on BSE.
Read moreShare Market Today LIVE | Nifty slides below 21,900, Sensex down over 100 pts
IPO Update | GPT Healthcare makes a good debut, shares list at 16% premium
GPT Group healthcare arm GPT Healthcare’s shares make a decent debut in the secondary market on Thursday, February 29, entering the listed universe at a premium of around 16 per cent over the upper end of the issue price band. The stock begins trading on NSE and BSE at Rs 215 and Rs 216.2 apiece, respectively.
The listing was in line with market wizard Anil Singhvi's expectations.
The Rs 525-crore IPO of GPT Healthcare, which owns and operates multispeciality neighbourhood tertiary care hospitals, concluded last week with an overall subscription of 8.5 times the equity on offer. Read more
Share Market Today LIVE | Tata Motors makes a U-turn from record high after CLSA downgrades Tata group auto major to 'outperform'
Tata Motors shares slip into the red on Thursday, retreating from an all-time high registered the previous day, after CLSA downgraded the Tata group auto giant’s stock to ‘outperform’ and revised its target to Rs 1,074 from Rs 1,060. At 9:35 am, the Tata Motors stock is down 0.3 per cent for the day at Rs 955 apiece on BSE, having registered an all-time high of Rs 976.3 apiece on Wednesday.
The downgrade by the foreign brokerage comes after a recent run-up in the stock, which has already rallied 21 per cent so far in 2024 as against as against headline index Nifty50’s gain of around one per cent.
According to CLSA, volume growth of a year-on-year 14.5 per cent in Tata Motors subsidiary Jaguar Land Rover (JLR) is higher in comparison to the third quarter, with the British luxury carmaker being on a strong footing. Read more
Share Market Today LIVE | Shriram Finance gains as the company will replace UPL in Nifty50 index from March 28
Shares of Shriram Finance hog the limelight after the National Stock Exchange (NSE) announced on Wednesday that the non-banking finance firm will replace agrochemical company UPL in the benchmark Nifty 50 index from March 28. According to the exchange, this change is part of a periodic review of broad market indices. The NBFC stock rise as much as 4.52 per cent to the day's high of of Rs 2,455.1 on NSE.
Why has Shriram Finance replaced UPL in the Nifty50 index?
Shriram Finance has replaced UPL Ltd in the Nifty50 index due to its highest six-month average free-float market capitalisation.
NSE, in a statement, said, "Shriram Finance has been included in the Nifty50 index as it has the highest six-month average free-float market capitalisation within the eligible universe as a replacement to UPL Ltd."
Shriram Finance share price target: Morgan Stanley maintains 'Overweight'
Morgan Stanley has maintained an overweight call on Shriram Finance with a target price of Rs 3,000. The target implies an upside of 28.64 per cent from the previous close. Read more
Share Market Today LIVE | Nifty below 21,950, Sensex up nearly 50 pts in opening deals
Nifty 50
Source: NSESensex
Source: BSE
Currency Update | Rupee rises 3 paise to 82.88 against US dollar in early trade
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 21,850-21,900 levels and a strong buy zone at 21,750-21,800 levels on Thursday, February 29. For the Nifty Bank, he expects support to come in at 45,625-45,850 levels and a stronger support zone at 45,375-45,525 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Morning Outlook | Nifty, Sensex likely to open flat, says Deepak Jasani
Indian markets could open flat to mildly higher, in line with mixed Asian markets today and despite negative US markets on February 28, says Deepak Jasani, Head of Retail Research, HDFC Securities
"All three major US stock indexes finished lower on Wednesday, with investors focused on the possibility of a hot inflation reading Thursday morning before the bell. US stocks closed slightly lower on Wednesday, a day ahead of a key inflation reading that could heavily influence expectations for the timing of an interest rate cut from the Federal Reserve," he added.
"The personal consumption expenditures (PCE) price index, the Fed's preferred inflation gauge, is expected to show prices ticked 0.3 per cent higher on a monthly basis in January," he further said.
"The growth rate of the US economy in the fourth quarter was downgraded slightly to a 3.2 per cent annual pace, but the economy is still expanding at a rapid clip and showing few signs of slowing down," he added.
Share Market Today LIVE: Buy Tata Communications shares, says Sumeet Bagadia
In conversation with market wizard Anil Singhvi, Sumeet Bagadia of Choice Broking suggests buying Tata Communications shares in the Rs 1,900-1,910 zone for targets of Rs 1,950 and Rs 1,970 in the coming 1-2 sessions with a stop loss at Rs 1,870.
Tata Communications shares have grown 58 per cent in the past year, sharply outperforming a 26 per cent gain in the headline Nifty50 index. Read more
Stocks to Watch | Coal India, BHEL, Shriram Finance, Wipro, other stocks
Coal India/BHEL: The company signed a joint venture agreement (JVA) with BHEL to undertake Coal to Chemicals business by initially setting up a Coal to 2000 TPD Ammonium Nitrate Plant using BHEL’s in-house developed PFBG (Pressurised Fluidised Bed Gasification) technology. Equity shareholding shall be 51 per cent with Coal India and 49 per cent with BHEL.
Wipro: The IT firm completed the migration of ManpowerGroup's largest data centre in Europe to Microsoft Azure.
JSW Steel: The company's subsidiary, JSW Green Steel, was incorporated on February 27, 2024.
Emami: The company entered into an agreement for the investment of Rs. 1.95 crore by way of subscription to the compulsorily convertible preference shares of “Cannis Lupus Services India Private Limited” (“Cannis”), its associate company.
NTPC: NTPC Green Energy, a subsidiary of the company, has inked a joint venture agreement with Maharashtra State Power Generation Company for the development of renewable energy parks in Maharashtra. Read more
Share Market Today LIVE | GIFT Nifty futures indicate a positive start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are up 32.15 points or 0.15 per cent at 21,953 ahead of the opening bell on Dalal Street.
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