Share Market HIGHLIGHTS: Sensex, Nifty50 halt two-day winning run amid weakness in financial, oil & gas, FMCG stocks
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty50 and Sensex halted a two-session winning run on Monday, March 11, amid broad-based weakness on Dalal Street led by financial, oil & gas and FMCG stocks. The market tracked caution among investors globally ahead of key inflation readings due this week. Catch all the highlights of the March 11 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 finished a weak session on Monday, March 11, about three-quarters of a percentage point lower amid weakness across sectors, wherein financial, oil & gas and FMCG stocks were the worst hit. Dalal Street tracked negative cues from most global markets as investors exercised caution ahead of a key US inflation reading due this week that may shed light on the timing of imminent reductions in benchmark interest rates in the world's largest economy.
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Meanwhile, here are some of the stocks that made headlines:
- Realty stocks in focus after Sebi revisits framework for small and medium REITs
- Supreme Court orders SBI to share electoral bond details by Tuesday; shares fall
- After Tata Motors, what if M&M demerges key units? Here’s what HSBC analysts say
- InterGlobe Aviation shares surge after 3.9% equity changes hands via block deals
- RVNL shares zoom after railway PSU firm bags orders worth Rs 2,093 crore
- Is Tata Sons looking to avoid IPO? Tata Chemicals, Rallis India slump
- Multibagger NLC India shares jump as OFS opens
Catch all the highlights of the March 11 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: Tata Consumer Products, Power Grid, Bajaj Auto, Tata Steel, SBI worst hit among 33 Nifty laggards; Apollo Hospitals, Nestle India, SBI Life, Cipla, Dr Reddy's top gainers
Top Nifty losers
Index March 11 close Change (%) TATACONSUM 1,223.00 -3.06 POWERGRID 284.85 -2.67 BAJAJ-AUTO 8,654.20 -2.53 TATASTEEL 153.75 -2.23 SBIN 773.95 -1.79 INDUSINDBK 1,538.00 -1.65 ONGC 273.9 -1.51 NTPC 347.1 -1.45 COALINDIA 452.5 -1.33 HDFCBANK 1,427.00 -1.32 Top Nifty gainers
Index March 11 close Change (%) APOLLOHOSP 6,210.00 2.66 NESTLEIND 2,610.00 1.92 SBILIFE 1,534.00 1.56 CIPLA 1,505.00 1.47 DRREDDY 6,390.00 1.04 BRITANNIA 4,933.20 0.9 BAJAJFINSV 1,595.00 0.77 ASIANPAINT 2,880.00 0.33 TCS 4,120.00 0.28 GRASIM 2,234.00 0.26 Share Market Today: Most sectoral indices in the red; Nifty PSU Bank, Nifty Metal among top losers
NSE sectoral indices
Index March 11 close Change (%) NIFTY MEDIA 1,930.50 -2.91 NIFTY PSU BANK 7,225.00 -1.58 NIFTY METAL 8,250.75 -1.44 NIFTY REALTY 906.55 -1.09 NIFTY BANK 47,327.85 -1.06 NIFTY PRIVATE BANK 23,595.00 -1.06 NIFTY OIL & GAS 11,643.55 -1.06 NIFTY CONSUMER DURABLES 32,540.30 -0.74 NIFTY FINANCIAL SERVICES 20,862.55 -0.68 NIFTY AUTO 21,001.15 -0.59 NIFTY FMCG 54,087.45 -0.59 NIFTY IT 36,988.30 -0.3 NIFTY PHARMA 19,202.05 0.04 NIFTY HEALTHCARE INDEX 12,043.40 0.44 BSE
Index March 11 close Change (%) S&P BSE Telecommunication 2,460.81 -2.4 S&P BSE METAL 28,336.36 -1.39 S&P BSE Utilities 5,573.62 -1.25 S&P BSE REALTY 7,152.23 -1.16 S&P BSE Energy 12,193.01 -1.15 S&P BSE BANKEX 53,787.34 -1.12 S&P BSE Commodities 6,624.99 -1.11 S&P BSE POWER 6,755.52 -1.08 S&P BSE Industrials 12,372.89 -1.03 S&P BSE Consumer Discretionary 8,504.66 -0.86 S&P BSE Financial Services 10,325.74 -0.85 S&P BSE CONSUMER DURABLES 52,228.55 -0.84 S&P BSE OIL & GAS 28,252.05 -0.75 S&P BSE Services 1,365.57 -0.74 S&P BSE Fast Moving Consumer Goods 19,418.10 -0.7 S&P BSE AUTO 48,099.68 -0.6 S&P BSE Information Technology 37,524.07 -0.58 S&P BSE CAPITAL GOODS 59,133.86 -0.56 S&P BSE TECK 16,801.24 -0.54 S&P BSE Healthcare 34,927.88 0.09 Share Market Today: Sensex ends over 600 pts lower, Nifty cracks below 22,350
Share Market Today LIVE | Realty stocks in focus after Sebi revisits framework for small and medium real estate investment trusts
The market watchdog Securities and Exchange Board of India's (SEBI) moved to regulate fractional ownership of real estate is a big positive for investors, as per experts. They believe that this move will ensure uniformity, protect investor interests, promote fairness and transparency, and provide access to mechanisms for dispute resolution.
"The regulation of the fractional ownership industry under this framework will encompass both commercial and residential properties, thereby enhancing investor protection," said Aankush Ahuja, Founder and CEO, of FOIP.
Ahuja added that this move creates numerous opportunities for retail and institutional investors to participate in office-yielding real estate across various market sizes and product types.
Along similar lines, Shravan Gupta, founder and CEO of YOURS, a platform for fractional ownership of luxury second homes, said that through these amendments, the regulatory body seeks to not only regulate and organise the fractional ownership segment but also enhance transparency in the sector. Read more
Share Market Today LIVE | After Tata Motors, what if M&M demerges key units? Here’s what HSBC analysts say
Tata group auto giant Tata Motors’ decision to demerge its passenger vehicle and commercial vehicle businesses into two separate listed entities has raised questions on the possibility of rival auto manufacturers taking similar steps. In a research report, analysts at foreign brokerage HSBC have pointed out that a move by Mahindra & Mahindra (M&M) to demerge its farm and auto businesses may unlock significant value for investors.
Last week, Tata Motors announced its decision to split its PV and CV businesses into two listed firms, separating its commercial vehicle business from its passenger vehicle arm. The passenger vehicle company will house Tata Motors' lucrative Jaguar Land Rover business, the Tata group company mentioned.
How HSBC analysts view M&M
HSBC pointed out that M&M continues to perform well operationally, driven by the performance of its SUVs launches, with steady upside risks from demand for its tractors. Read more
IPO Update| Gopal Snacks IPO subscribed 5x on Day 3 so far
According to provisional exchange data, Gopal Snacks IPO's share sale received bids for 6,83,88,913 shares against 1,19,79,993 shares on offer, translating into a subscription of 5.71 per cent on Monday, the third day of the bidding process so far. Read more
Category Subscription (No. of times the equity reserved) Qualified institutional buyers 9.82 Non-institutional investors 5.52 Retail investors 3.43 Overall 5.71 Source: Exchange data Share Market Today LIVE | RVNL shares zoom after railway PSU firm bags four orders worth Rs 2,093 crore
Shares of Rail Vikas Nigham trade 4.85 per cent higher at Rs 249.55 on BSE on bagging four orders worth 2,093 crore.
RVNL new orders, RVNL latest orders
Indian Railways PSU informed exchanges on March 9 that it has received an order from the Madhya Pradesh Metro Rail Corporation to design and build an elevated viaduct, five elevated metro stations, and a ramp between chainages. According to the exchange filing, the project is slated for completion in 1,092 days, with the total cost of the order amounting to Rs 543 crore.
In addition, the railway construction company received an order from the Himachal Pradesh State Electricity Board for the development of distribution infrastructure at SOUTH ZONE of Himachal Pradesh under the Revamped Reforms-Based and Results-Linked Distribution Sector Scheme (Loss Reduction Works). The project is slated for completion in 24 months, with the total cost of the order amounting to Rs 888 crore. Read more
Stocks to Buy | TCS, Nestle India, Exide, IPCA Labs, Biocon among analysts' top picks
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Mehul Kothari, Kunal Saraogi, Sumeet Bagadia and Sandeep Jain share their top stock recommendations in this special segment, Pick of the Day.
On the top analysts' 'buy' list are stocks such as Nestle, Tata Consultancy Services, Exide Industries, Biocon, IPCA Laboratories, Glenmark Pharmaceuticals and Apar Industries. Read more
Share Market Today LIVE | HDFC Bank declines as CLSA downgrades stock to ‘outperform’
HDFC Bank shares have been underperforming since their Q3 results and have shed as much as 14 per cent since the release of December quarter numbers on January 16, 2024.
Moreover, the bank is also on analysts’ radar and has been constantly witnessing upgrades and downgrades.After LKP Securities recommended a strong buy on the counter last week with a 1-year target of Rs 1,762, CLSA has downgraded the stock with an ‘outperform’ view as against the earlier ‘buy’ call. The new target is pegged at Rs 1,650 per share, as against Rs 2,025 earlier.The foreign brokerage maintains that the challenge of deposit accretion manifests in lower loan growth. While the merger with HDFC does provide long-term benefits, the medium-term poses more challenges than upsides, it added. Read more
Share Market Today LIVE | Titagarh Rail Systems trade in green firm gets Rs 1909 crore order from Indian Railways
Titagarh Rail Systems trade at Rs 909.95, up 1.2 per cent on NSE after the rolling stock manufacturer received a Rs 1909 crore order from Indian Railways.
Titagarh Rail Systems order
Titagarh Rail Systems has received an order from Railways for the manufacture and supply of Wagons.
Titagarh Rail Systems said in a statement on Thursday, "The Company has accepted the offer from the Railway Board for Manufacture and supply of 4,463 BOSM Wagons for a contract value of Rs. 1909,04,82,500/- (Rupees One Thousand Nine Hundred Nine Crores Four Lakhs Eighty Thousand Five Hundred only)." Read more
Share Market Today LIVE | Nifty slides below 22,400, Sensex falls 350 pts led by financial stocks
Share Market Today LIVE | Should you buy Tata Motors, M&M, BEL, HAL, GAIL, SBI, other stocks today?
As Dalal Street enters the March 11 session, brokerages have a dozen stocks on their radar. Here's what CLSA, JPMorgan, HSBC, Jefferies, Morgan Stanley and Bernstein make of stocks such as Tata Motors, Mahindra & Mahindra (M&M), Bharat Electronics Ltd (BEL), Hindustan Aeronautics Ltd (HAL), GAIL and State Bank of India (SBI):
HDFC Bank share price target: CLSA has a 'outperform' rating on the HDFC Bank stock with a target of Rs 1,650
Maruti Suzuki share price target: CLSA has maintianed an 'outperform' rating on the Maruti Suzuki India stock with a target of Rs 12,890
Tata Motors share price target: JPMorgan has maintained an 'overweight' rating on the Tata Motors stock with a target of Rs 1,050
M&M share price target: HSBC has maintained a 'buy' call on the Mahindra & Mahindra (M&M) stock with a target of Rs 2,300.
JP Morgan has mainatained an 'overweight' rating on M&M shares with a target of Rs 2,015
LTIMindtree share price target: Jefferies has maintained a 'buy' call on the LTIMindtree stock with a target of Rs 5,890.
Morgan Stanley has maintained an 'equal-weight' rating on the LTIMindtree stock with a target of Rs 5,700.
Voltas share price target: Morgan Stanley has an 'equal-weigh' rating on the Voltas stock with a target of Rs 1,160. Read more
Share Market Today LIVE | Nifty Bank trades nearly 200 pts lower
Source: NSE
Share Market Today LIVE | Cipla hits all-time high, stock surges over 70% in one year
Pharma giant Cipla shares hit an all-time high of Rs 1,519 on BSE on Monday. The stock of the large-cap pharma firm has soared nearly five per cent in the last one month. While its rise in the six-month period is over 20 per cent, it has skyrocketed by over 70 per cent in the one year. Read more
Share Market Today LIVE | Is Tata Sons looking to avoid IPO? Tata Chemicals, Rallis India slump
Tata Chemicals, along with Rallis India, climbed sharply last week on reports that Tata Sons was planning to launch an initial public offering (IPO), which was the RBI-mandated rule for the holding company of Tata Group. It must be noted that Tata Chemicals holds a nearly 55 per cent stake in Rallis India. However, in Monday's trade (March 11), the stocks sees selling pressure as news reports suggested that the entity is working on a debt restructuring programme to avoid the much-discussed IPO.
Reacting to the news, shares of Tata Chemicals and other group stocks, including the likes of Tata Power and Rallis India, have slipped up to 10 per cent in the early trade.
Why did the RBI mandate the IPO?
Tata Sons has been registered as a core investment company (CIC) and was classified as an upper-layer NBFC in September 2022. Hence, to be registered as the CIC, the company needs to adhere to the following two guidelines stipulated by the RBI:
- The company’s asset base needs to be more than Rs 100 crore. Read more
Traders' Diary | Buy, sell or hold strategy on HDFC Bank, Voltas, Pidilite, Maruti Suzuki, RVNL 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 Monday, March 11, 2024. Check out the complete list of stocks on analysts Kushal Gupta and Varun Dubey's radar.
Here's the complete list of investment and trading ideas for the day:
Kushal Gupta
- Buy HG Infra Engineering shares in the cash segment for a target price of Rs 932 with a stop loss at Rs 893
- Buy Voltas futures for a target of Rs 1,115 with a stop loss at Rs 1,070
- Buy the Rs 620 put option of HDFC Life at Rs 14 for a target of Rs 25 with a stop loss at Rs 10
- Technical pick: Buy Pidilite Industries shares for a target price of Rs 2,950 with a stop loss at Rs 2,840
- Fundamental pick: Buy Maruti Suzuki India shares for a target of Rs 12,800 with a perspective of 12 months
- Investment idea: Buy Bharti Airtel shares for a one-year target of Rs 1,430
- News-based pick: Buy Coal India Ltd (CIL) for a target of Rs 470 with a stop loss at Rs 453. Read more
Share Market Today LIVE | InterGlobe Aviation shares flat after 3.9% equity changes hands via multiple block deals
Shares of InterGlobe Aviation, which operates the low-cost carrier IndiGo Airlines, trade marginally higher on the BSE at Rs 3,137.35, up 1.15 per cent, after 3.9 per cent equity, or 1.5 crore shares, changed hands via multiple block deals.
As per reports, the company's co-founder Rakesh Gangwal and family were likely to offload 2.23 crore shares, or a 5.8 per cent stake, of the company for Rs 6,600 crore. The deal was expected to take place at Rs 2,925 per share, a six per cent discount to the last closing price. 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 22,400-22,475 levels and a strong buy zone at 22,300-22,375 levels on Monday, March 11. For the Nifty Bank, he expects support to come in at 47,575-47,725 levels and a strong buy zone at 47,400-47,525 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Currency Update | Rupee falls 7 paise to 82.74 against US Dollar in early trade
Currency Update | Rupee falls 7 paise to 82.74 against US Dollar in early trade
Stocks to Watch Today | InterGlobe Aviation, life insurance stocks, RVNL, HDFC Bank, SBI Card
Here are some stocks that will be in focus on Monday, March 11:
Interglobe Aviation: A block deal in the aviation major is expected today, wherein the company's co-founder Rakesh Gangwal and family may offload a 5.8 per cent stake.
HDFC Bank: CLSA has downgraded the stock with an 'outperform' view and reduced the target price to Rs 1,650.
SBI Card and bank stocks to be in focus: The stocks will be in focus amid changes in the norms for issuance of debit and credit cards.
NLC India: The company's OFS will open today for retail investors. The non-retail category was oversubscribed by 2.92 times.
LIC and other insurance stocks: In February, the industry witnessed significant growth in new business premiums (NBP). For LIC, NBP expanded by 67 per cent.
HG Infra: The company has bagged an order worth Rs 610 crore from NHAI for the construction of a 4-lane highway in Jamshedpur.
Sonata Software: The company announced the integration of Sonata Harmoni.AI with the Microsoft Azure AI service. This integration complements Sonata’s collaboration with Microsoft Fabric and its position as a Microsoft AI Partner Council member. Read more
Share Market Today LIVE | Nifty below 22,500, Sensex drops nearly 50 pts
Nifty 50
Source: NSESensex
Source: BSE
Share Market Today LIVE | Shares set to open at record highs on domestic inflows
Shares are on track to open higherS on Monday, with the benchmark Nifty index set to touch a record high on sustained domestic inflows, while Asian peers were off to a muted start ahead of key US inflation reading.
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 91.65 points or 0.41 per cent at 22,644 ahead of the opening bell on Dalal Street.
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