Share Market HIGHLIGHTS: Sensex ends 191 pts higher, Nifty 3 pts shy of 22,100 as market extends winning run
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex continued to rise for a third straight session on Friday as Dalal Street headed into a long-weekend owing to the Holi holiday on Monday. Catch all the highlights of the March 22 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 Nifty 50 and Sensex continued to rise for the third trading session in a row on Friday, March 22, as Dalal Street headed into a long weekend owing to the Holi holiday on Monday, March 25.
Catch all the highlights of the March 22 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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Sensex ends 191 pts, Nifty 3 pts shy of 22,100 as market extends gains to third straight day
Share Market Today LIVE: Buy Berger Paints shares, says Sumeet Bagadia
Sumeet Bagadia of Choice Broking recommends buying Berger Paints shares for targets of Rs 570 and Rs 575 with a stop loss at Rs 545.
Share Market Today LIVE: Buy RPG Life, ITDC shares, says Sandeep Jain
Sandeep Jain of Tradeswift Broking is bullish on RPG Life shares.
For ITDC, his targets stand at Rs 825 and Rs 900.
Share Market Today LIVE: Buy Jubilant FoodWorks Rs 450 call option, says Jay Thakkar
Jay Thakkar of ICICI Securities suggests buying the Rs 450 call option of Jubilant FoodWorks at Rs 5.7 for targets of Rs 11 and Rs 13 with a stop loss at Rs 2.65.
Share Market Today: Buy Apollo Hospitals futures, says Sandeep Wagle
Sandeep Wagle of Sandeep Wagle Advisory Services suggests buying Apollo Hospitals futures for a target of Rs 6,550 with a stop loss at Rs 6,310.
Currency Market Update: Rupee hits three-month low vs dollar
The rupee is currently quoting at 83.35 against the greenback, depreciating for the fifth session in a row.
The Indian currency, sliding below the 83.30 mark for the first time since December 14, is on course to finish the week with a loss of 0.5 per cent.
Image: Pexels
Share Market Today LIVE: Buy ASK Automotives shares, says Vikas Sethi
Vikas Sethi of Sethi Finmart has a 'buy' call on ASK Automotives sahres.
Sethi has placed his target at Rs 290 with a stop loss at Rs 260.
Share Market Today LIVE: Accenture guidance cut puts current Indian IT FY25 growth estimates at risk, says JM Financial Institutional Securities
JM Financial Institutional Securities points out that all available guidances by global peers point to a growth deceleration in CY24, a trend underlined by Accenture's action.
On Thursday, Accenture cut its fiscal 2024 revenue forecast, dashing hopes of a rebound in demand recovery.
Read more on what Accenture's guidance cut means for Indian IT sector
Share Market Today LIVE: Buy Datamatics shares, says Vikas Sethi
Vikas Sethi of Sethi Finmart suggests buying the Datamatics stock for a target of Rs 565 with a stop loss at Rs 525.
Share Market Today LIVE: Buy DMart shares, says Chandan Taparia
Chandan Taparia of Motilal Oswal Financial Services has a 'buy' call on Avenue Supermarts (DMart).
Taparia has placed his target for the retail chain operator at Rs 5,000 with a stop loss at Rs 3,900.
His target implies an upside of 20.2 per cent in the stock from its previous close.
Share Market Today LIVE: Welspun Corp shares up 2%; here are the latest triggers
The stock of Welspun Corp, a manufacturer of steel and plastic products, is up 2.3 per cent at Rs 536.2 apiece, having gained as much as 3.9 per cent to Rs 544.9 apiece in intraday trade.
Since February 6, the company has received line pipe orders worth Rs 2,039 crore in the domestic as well as US markets, according to a regulatory filing.
Here are some important things to know about the orders:
- New US orders ascertain business continuity till Q2 FY25
- They also reaffirm dominant position in US onshore gas transmission sector
- Orders in India reaffirm technical excellence, customer trust for executing critical projects
- Execution of orders expected mostly during FY25
Share Market Today LIVE: Buy PFC shares, says Sumeet Bagadia
Sumeet Bagadia of Choice Broking recommends buying PFC shares for targets of Rs 405 and Rs 410 with a stop loss at Rs 380.
Share Market Today LIVE: Centre rejects Hindustan Zinc plan to split company
The mines ministry has rejected a proposal by Vedanta group firm Hindustan Zinc to split the company into different entities, according to Mines Secretary VL Kantha Rao.
"We have not agreed to the proposal," he says.
The government is the largest minority shareholder in Hindustan Zinc, owning a 29.54 per cent stake in the company.
HZL shares are left with a gain of 0.9 per cent for the day at Rs 296.8 apiece, after rising as much as 1.3 per cent to Rs 297.8 apiece during the session so far.
Share Market Today LIVE: Buy ISGEC Heavy Engineering shares, says Vikas Sethi
Vikas Sethi of Sethi Finmart suggests going long on the ISGEC Heavy Engineering stock for a target of Rs 925 with a stop loss at Rs 860 from a perspective of 3-6 months.
Share Market Today LIVE: Buy RVNL, IPCA Labs shares, says Osho Krishan
Osho Krishan of Angel One shares two recommendations with Zee Business viewers:
- Buy RVNL shares for a target of Rs 264 with a stop loss at Rs 242
- Buy IPCA Labs shares for targets of Rs 1,250 and Rs 1,260 with a stop loss at Rs 1,165
Holi 2024 Stock Picks: Brokerage sees up to 36% upside in five stocks
In the run-up to the Holi festival on March 25, Sharekhan has handpicked five shares from a one-year perspective.
The brokerage recommends buying Dalmia Bharat shares for a one-year target of Rs 2,600.
Share Market Today LIVE: Nifty Auto, Nifty Realty rise most among NSE's sectoral indices; Nifty IT worst hit, down over 2%
Index Level Change (%) NIFTY AUTO 21,093.90 1.9 NIFTY REALTY 873.1 1.59 NIFTY MEDIA 1,854.15 1.49 NIFTY METAL 8,148.85 1.19 NIFTY PHARMA 18,798.25 1.16 NIFTY HEALTHCARE INDEX 11,835.75 1.13 NIFTY PSU BANK 6,893.60 1.04 NIFTY FMCG 53,675.75 0.63 NIFTY CONSUMER DURABLES 31,732.25 0.59 NIFTY PRIVATE BANK 23,442.50 0.37 NIFTY BANK 46,832.45 0.32 NIFTY OIL & GAS 11,235.65 0.3 NIFTY FINANCIAL SERVICES 20,775.75 0.29 NIFTY IT 35,258.75 -2.13 Share Market Today LIVE: Maruti Suzuki, Sun Pharma, JSW Steel, Tata Motors, Titan rise most among 22 Sensex gainers; Infosys, Wipro, HCL Tech top losers
Image: BSEIndia.com
Share Market Today LIVE: L&T, ICICI Bank, Maruti Suzuki, ITC, Sun Pharma top contributors to Sensex rise; TCS, Infosys, HCL Tech top drags
Image: BSEIndia.com
Mankind Pharma | This pharma stock has potential to double your money in 3-4 years - Check Anil Singhvi's View
The market has been quite volatile for the past few days, and benchmark equity indices tanked in early trade on Friday. The 30-share BSE Sensex tanked 413.36 points to 72,227.83. The NSE Nifty skidded 86.8 points to 21,925.15. Amid this, there is a good opportunity for investors to create wealth in the long run. If you are looking for one such stock, here's one picked by Zee Business Managing Editor Anil Singhvi.
Mankind Pharma Share Price Target: Anil Singhvi's View
Mankind Pharma is today's 'Wealth Creation Pick' by market wizard Anil Singhvi. This stock has strong fundamentals and can give strong returns in the long term. In the last 6 months, this stock has given around 25 per cent return. Read more
Traders' Diary | Buy, sell or hold strategy on DLF, IRCTC, LTIMindtree, Wipro, Eicher Motors, 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 Friday, March 22, 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 Amber Enterprises shares in the cash segment for a target price of Rs 3,500 with a stop loss at Rs 3,340
Sell LTIMindtree futures for a target of Rs 5,052 with a stop loss at Rs 5,225
Buy the Rs 500 put option of Wipro at Rs 5 for a target of Rs 10 with a stop loss at Rs 3
Technical pick: Buy IRCTC shares for a target price of Rs 960 with a stop loss at Rs 923
Fundamental pick: Buy Shriram Finance shares for a target of Rs 2,380 with a stop loss at Rs 2,300. Read more
Share Market Today LIVE | What brokerages make of Dr Lal PathLabs, Amber Enterprises, cement stocks today?
Brokerages have few stocks on their radar. Here's what UBS, CLSA and HSBC make of stocks including Dr Lal PathLabs, Shree Cement, Dalmia Bharat and Amber Enterprises:
- Dr Lal PathLabs share price target: UBS has maintained a 'buy' call on the Dr Lal PathLabs stock with a target of Rs 2,900.
- Amber Enterprises share price target: CLSA has maintained a 'buy' call on the Amber Enterprises stock with a target of Rs 4,300. Read more
Share Market Today LIVE | Goldman Sachs initiates coverage on these Indian footwear brands, upbeat on growth prospects
Goldman Sachs has initiated coverage on Indian footwear companies Metro Brands and Bata India. The brokerage feels that branded footwear in India is under-penetrated and has a long growth runway.
The analysts at the brokerage believe that multi-brand footwear retailers are best positioned currently. Goldman Sachs added that sports and athleisure are a multi-decade double-digit growth opportunity. Read more
Share Market Today LIVE | Bharat Dynamics shares jump as investors cheer corporate action announcements
Bharat Dynamics Ltd (BDL) shares gain on Friday after the state-run defence equipment manufacturer's board approved proposals to split its stock and pay an interim dividend to shareholders. The stock of BDL strengthens by as much as Rs 58.5, or 3.5 per cent, to Rs 1,720 apiece on BSE.
After market hours on Thursday, BDL said in a regulatory filing that its board had given the nod to a 2:1 share split plan, wherein shareholders owning would get two shares for each share held in the company.
Also, the company's board approved an interim dividend of Rs 8.85 per share for the current financial year, with a record date of April 2. Read more
Share Market Today LIVE | Mahindra Lifespace, Anil Singhvi's wealth creation pick, launches Bengaluru residential project; shares jump
Mahindra Lifespace Developers (MAHLIFE) shares rise on Friday after the real estate company launched a residential project in Bengaluru. The stock gains by as much as Rs 12.4, or 2.3 per cent, to Rs 556.5 apiece on BSE. The project, called Mahindra Zen, is located in the southern part of the city, according to a regulatory filing.
Mahindra Zen is registered with the Karnataka Real Estate Regulatory Authority, Mahindra Lifespace Developers said.
Mahindra Lifespace is market wizard Anil Singhvi's wealth creation pick
Zee Business Managing Editor Anil Singhvi has picked Mahindra Lifespace Developers as one of his wealth creation picks citing strong fundamentals and the potential to perform well over the long run. Read more
Share Market Today LIVE | Prestige Estates stock jumps after realty group acquires land for Indirapuram Extension township project
Prestige Estates Projects shares trade nearly five per cent higher at Rs 1,095.25 on BSE after the real estate firm said its group acquired 62.5 acres of prime land in the National Capital Region's Indirapuram Extension for an integrated township, The Prestige City.
The Prestige City township will span more than 10 million square feet, according to a regulatory filing. This strategic acquisition marks a significant milestone for the Prestige Group as it expands its footprint in the dynamic real estate market of the NCR, the company said. Read more
1,880% Dividend | This auto component firm fixes record date for Rs 94 interim dividend - Do you own?
TVS Holdings, formerly Sundaram Clayton, has announced an interim dividend of 1,888 per cent or Rs 94 per share for the financial year ending March 31, 2024. The company will pay the dividend on 2.02 crore equity shares with a face value of Rs 5 each.
"Declared an interim dividend of Rs. 94/- per share (1,880%) on 2,02,32,104 equity shares of Rs.5/- each fully paid up, absorbing a sum of Rs. 190 Cr, for the financial year ending 31st March 2024," the company said in an exchange filing.
TVS Holdings Dividend 2024 Record Date
According to the exchange filing, the company will be spending a total of Rs 190 crore for the payment of dividend. It has also fixed a record date to identify the eligibility of the shareholders for this corporate action.
The company has fixed April 2, 2024 as the record date for the payment of Rs 94 payout, which is the highest-ever dividend declared by the company. Read more
Infosys, TCS, HCLTech | IT stocks bleed as Accenture slashes revenue forecast for FY2024
Sares of IT services companies are trading with significant cuts after Dublin-based multinational IT services company Accenture slashed its revenue forecast for the fiscal year 2024 amid increasing economic uncertainty. On Thursday, the IT bellwether revised its revenue forecast lower to 1-3 per cent from the earlier 2–5 per cent.
Brokerages' view after the recent Accenture revenue outlook cut
CLSA
The brokerage is of the view that the commentary of Indian IT companies and their outlook on banking and telecom sectors are weak. In addition, the earnings downgrade cycle is still not factored into valuations.
Nomura
The global brokerage stated that, amid sluggish discretionary spending, Accenture has slashed its revenue outlook. Further, the brokerage continues with its cautious stance on IT sector companies.
Morgan Stanley
There remains an earnings recovery overhang for Indian IT companies, and the recovery may continue at a slow pace going forward, as per the brokerage.
Motilal Oswal Financial Services
The brokerage underlines the cautious spending environment in the near term, which should drag down FY24 operational performance for Indian IT companies. Demand for financial services and CMT, which have been the key verticals for Indian IT firms, continued to be weak in 2QFY24, added the brokerage report.
Holi 2024 | Top stock picks by analysts - Titan, Cummins, IGL, Hindustan Copper & more
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Rakesh Bansal, Sacchitanand Uttekar, Siddharth Sedani, Kunal Saraogi and Sumeet Bagadia share their top stock recommendations in this special segment, Holi Stocks.
On the top analysts' 'buy' list are stocks such as Titan, Indraprastha Gas Limited (IGL), Cummins India, Hindustan Copper and Cholamandalam Investment and Finance. Read more
Currency Update | Rupee declines 16 paise to trade at 83.29 against US dollar in early trade
Share Market Today LIVE | SEBI introduces Beta version of optional T+0 settlement cycle; revolutionizing equity cash markets
The Securities and Exchange Board of India (SEBI) has introduced the beta version of the T+0 rolling settlement cycle in equity cash markets, providing an optional basis for traders. As per SEBI, this move comes as a progressive step in the evolution of India's securities market infrastructure, leveraging advancements in technology and risk management capabilities. Read more
Share Market Today LIVE | HCL Tech, Wipro, Infy, TCS among top blue-chip losers in Nifty50
Source: NSE
Share Market Today LIVE | Nifty below 22k, Sensex falls 200 pts in opening deals
Nifty 50
Source: NSESensex
Source: BSE
Share Market Today LIVE | IT stocks to see gap-down opening after Accenture slashes its revenue forecast for FY2024
Shares of IT service providers will likely open with a gap-down on Friday, March 22, after Dublin-based multinational IT services company Accenture slashed its revenue forecast for the fiscal year 2024 amid increasing economic uncertainty. On Thursday, the IT bellwether revised its revenue forecast lower to 1-3 per cent from the earlier 2–5 per cent.
"The firm has been grappling with sluggish demand for its IT and consulting services as high-interest rates slam the brakes on an industry that benefited from breakneck growth during the pandemic," said the Reuters report.As the IT services company sees the full-year growth to fall in the range of 1-3 per cent, Infosys ADR (American depository receipt) as well as Wipro ADR both fell by 3.8 per cent and 1.8 per cent, respectively. Read more
Stocks to watch: IT stocks, LIC, Mazagon Dock, Bharat Dynamics
Here are some stocks that will be in focus on Friday, March 22
TCS and other IT stocks: IT services major Accenture slashed its fiscal year 2024 revenue guidance on Thursday to 1-3 per cent as against the earlier 2-5 per cent and has flagged gloom in IT industry spending. Reacting to the development, Infosys ADR slipped 3.8 per cent, while Wipro ADR also inched lower by 1.8 per cent.
LIC: The insurance behemoth increased its shareholding in LTIMindtree from 14,804,362 to 14,906,665 equity shares, i.e., from 4.99 per cent to 5.03 per cent stake.
DCM Shriram Industries: The board will consider an interim dividend in a meeting on March 28.
Mazagon Dock Shipbuilders: The company accepted the Mumbai Port Authority's offer for the allotment of land and buildings (workshop land and Clark Basin), measuring 14.55 acres. The total allotment cost is around Rs 354 crore.
Bharat Dynamics: The company has approved a stock split in the ratio of 2:1. In addition, the company's board approved an interim dividend of Rs. 8.85 per equity share.
Karnataka Bank: The bank has launched its QIP with a floor price pegged at Rs 231.43 per share, a 0.65 per cent discount to the current market price. To decide the QIP's issue price, the company's board meeting is scheduled for March 27. Read more
Anil Singhvi Market Strategy | Important levels to track in Nifty50, Nifty Bank ahead of long weekend
Zee Business Managing Editor Anil Singhvi sees support emerging at 21,900-21,950 levels and a strong buy zone at 21,800-21,850 levels for the headline Nifty50 index on Friday, March 22. For the Nifty Bank, he expects support to come in at 46,250-46,400 levels and a strong buy zone at 45,825-46,025 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Pre-Opening Market Comment | Nifty aims to maintain momentum, Bank Nifty looks poised for further gains, says Prashanth Tapse
"The global market outlook remains bullish as major indices hit record highs, with the Federal Reserve predicting three rate cuts this year despite strong economic indicators. IT stocks may see a slowdown following Accenture's revised revenue forecast," says Prashanth Tapse, Senior VP (Research), Mehta Equities.
"Nifty aims to maintain momentum, with support at 21,711, while Bank Nifty looks poised for further gains," he adds.
According to Prashanth, INDIGO, BANK OF BARODA, and ZOMATO show promising trends for the week. Key trade: Buy INDIGO (CMP 3290), with targets at 3,341/3,421 and aggressive targets at 3,701, citing momentum, according to Prashanth.
Share Market Today LIVE | GIFT Nifty futures indicate a flat start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are down 26.50 points or 0.12 per cent at 22,076 ahead of the opening bell on Dalal Street.
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