Share Market HIGHLIGHTS: Sensex up 655 pts, Nifty reclaims 22,327 amid broad-based rally
Share Market Today LIVE: Domestic equity benchmarks Nifty 50 and Sensex soared amid a broad-based rally on Thursday, March 28, as the market prepared for a long weekend owing to Good Friday on March 29. 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, stock recommendations, and much more only on Zeebiz.coms blog.
Share Market Today LIVE: Domestic equity benchmarks Nifty 50 and Sensex surged about 1.5 per cent amid a broad-based rally on Dalal Street on Thursday, March 28, the last session of the financial year FY24. In afternoon deals, financial, auto, IT and oil & gas shares were the biggest contributor to the rise in headline indices.
Catch minute-by-minute updates of all the day's action 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
Share Market Today: Sensex ends 655 pts higher, Nifty leaps to 22,327; Bajaj twins, Grasim, Hero MotoCorp rise most among 45 Nifty gainers
Share Market Today LIVE: Latent View Analytics shares zoom; what's driving the stock?
Latent View shares are up 11.1 per cent for the day at Rs 512.9 apiece on BSE, having gained as much as 12.2 per cent to Rs 517.9 apiece in intraday trade so far.
Share Market Today LIVE: Buy Ramkrishna Forgings shares, says Vikas Sethi
Vikas Sethi of Sethi Finmart recommends buying Rishabh Instruments shares for a short-term target of Rs 460 with a stop loss at Rs 418.
Tata Technologies shares hit 52-week low, trade below listing price of Rs 1,200
Shares of Tata Technologies slipped in Thursday's trade and hit their 52-week low of Rs 1,020 apiece on the BSE. The stock fell 14.5 per cent lower from its listing price of Rs 1,200.
At 1:22 p.m., Tata Technologies stock traded 0.15 per cent lower, at Rs 1,027.15 apiece on the BSE. The market capitalisation of the company at around the same time stood at Rs 41,668.24 crore.
Share Market Today LIVE: Buy LIC stock, says Mehul Kothari
Mehul Kothari of Anand Rathi Shares & Stock Brokers has a 'buy' call on PSU insurance giant LIC's shares.
Kothari has placed his target for Life Insurance Corp shares at Rs 1,000 with a stop loss at Rs 888.
Share Market Today LIVE: Buy Ramkrishna Forgings shares, says Vikas Sethi
Vikas Sethi of Sethi Finmart recommends buying Ramkrishna Forgings shares for a short-term target of Rs 730 with a stop loss at Rs 670.
The stock currently stands at Rs 700.7 apiece on BSE, up 0.8 per cent for the day.
Share Market Today LIVE: Buy Bank of Baroda shares, says Sumeet Bagadia
Sumeet Bagadia of Choice Broking suggests buying the PSU bank's stock for targets of Rs 272 and Rs 276 with a stop loss at Rs 258.
Share Market Today LIVE: S&P BSE Power, S&P BSE Capital Goods top gainers among NSE's sectoral indices, up 2%
Index Current value Change (%) S&P BSE Commodities 6,652.39 1.51 S&P BSE Consumer Discretionary 8,645.76 1.35 S&P BSE Energy 12,075.28 1.33 S&P BSE Fast Moving Consumer Goods 19,418.32 1.16 S&P BSE Financial Services 10,366.93 1.45 S&P BSE Healthcare 35,112.77 1.35 S&P BSE Industrials 12,680.98 1.53 S&P BSE Information Technology 35,851.05 1.13 S&P BSE Telecommunication 2,500.70 0.83 S&P BSE Utilities 5,476.34 1.93 S&P BSE AUTO 49,496.27 1.92 S&P BSE BANKEX 53,776.26 1.31 S&P BSE CAPITAL GOODS 61,202.23 1.97 S&P BSE CONSUMER DURABLES 52,361.93 1.16 S&P BSE METAL 28,357.55 1.68 S&P BSE OIL & GAS 27,877.29 1.7 S&P BSE POWER 6,734.45 2.19 S&P BSE REALTY 7,120.09 0.69 S&P BSE TECK 16,187.12 1.11 S&P BSE Services 1,382.77 0.97 Share Market Today LIVE: JM Chemicals & Pharma shares, says Sandeep Jain
Sandeep Jain of Tradeswift Broking is bullish on JB Chemicals & Pharma, a stock he recommends as his Wealth Creation pick.
He suggests buying JB Chem & Pharma shares for targets of Rs 1,870 and Rs 1,950.
Share Market Today LIVE: Sensex soars nearly 1,050 pts to touch 74,046, Nifty50 crosses 22,450 amid broad-based gains
Both headline indices jump around 1.5 per cent amid a broad-based rally on Dalal Street.
The Sensex rises as much as 1,049.3 points to touch 74,045.6 on the upside and the Nifty50 climbs to as high as 22,457.5, up 333.9 points from its previous close.
Dr Reddy's Labs enters into distribution partnership with Sanofi India; stock rises
Shares of Dr Reddy's Laboratories gained over 2 per cent in Thursday's trade, touching the day's high of Rs 6,185 on BSE. The buying interest in the stock came after Dr Reddy's entered into a distribution partnership with Sanofi Healthcare.
As of 11:04 a.m., shares of Dr Reddy's Laboratories traded 1.65 per cent or Rs 99.5 higher, at Rs 6,147.1 apiece on BSE. The market capitalisation of the company at around the same time stood at Rs 1,02,379.92 crore.
This small-cap luggage manufacturer gains 15%; what is fuelling the rally?
Shares of VIP Industries, the luggage manufacturer, gained nearly 15 per cent in Thursday’s session (March 28) to Rs 534.15 after the company’s new MD, Neetu Kashiramka, shared the future outlook at the company’s analyst day on Wednesday.
At 10:30 am, shares of the company traded higher by 11.47 per cent at Rs 519 apiece on the BSE.
Vikas Organics bags order worth Rs 165 million - details
Vikas Organics, a subsidiary of high-end speciality chemicals manufacturer Vikas Ecotech, has received the largest-ever export order. According to an exchange filing, the order, worth Rs 165 million approx, is for vinyl plasticizers.
"The order is a variable price contract, which covers regular supplies to the renowned Yusuf Bin Ahmed Kanoo Group of KSA over the coming months," the company said in the filing.
Tata Consumer Products, Britannia, HUL: Nifty FMCG index jumped 18% in 12 months; what lies ahead?
Nifty FMCG, the sectoral index, which is designed to reflect the behaviour of Indian fast-moving consumer goods (FMCG) companies, has gained over 18 per cent in the past one year on the back of resilience in Indian consumer demand, driven by a growing middle-class and increasing urbanisation. Analysts, by and large, remain positive about the space and suggest investing in the stocks from a long-term perspective; however, there are risks one should be mindful of.
Share Market Today LIVE: Barring Axis Bank, all Sensex stocks in the green; Bajaj twins, Nestle India, Larsen & Toubro, SBI top gainers
Image: BSEIndia.com
Alkem Labs slides nearly 3% after USFDA raises 10 objections for its Baddi plant
Alkem Labs slipped nearly three per cent on BSE on Thursday (March 28, 2024) after the USFDA raised 10 objections for the pharma company's manufacturing facility at Baddi, Himachal Pradesh, and issued Form 483.
The pharma stock closed at Rs 4999.00 on Wednesday and started the session on Thursday at Rs 4889.60.
CLSA super bullish on this retail stock, raises target price further; shares at fresh 52-week peak
Shares of Avenue Supermarts, operating DMart supermarket chain, galloped to a new 52-week high for the second day in a row in Thursday’s session (March 28) after the global brokerage CLSA maintained its buy rating and increased target on the stock in a week to Rs 5,307 from the earlier suggested target of Rs 5,107. This new target implies an upside potential of over 20 per cent.
Share Market Today LIVE: Analysts recommend buying Century Textiles shares
Rakesh Bansal of Rakesh Bansal Ventures and Kunal Saraogi of Equity Rush jointly recommend buying Century Textiles Industries shares for a target of Rs 2,000 from a perspective of 4-6 months.
Their target implies a 33 per cent upside in the stock.
PCBL soars over 5.80% after its board's approves issuance of 1.60 cr warrants; to raise Rs 448 cr
PCBL Ltd raced to over 5.80 per cent in morning deals on BSE on Thursday (March 28, 2024) as the largest carbon black manufacturer's board approved the issuance of 1.60 crore warrants.
The stock that closed at Rs 264.50 on Wednesday opened at Rs 275.15 on Thursday and jumped to the day's high of Rs 279.90, a 5.82 per cent rise from the previous close.
Market Today LIVE: Buy MCX gold futures at Rs 66,400, target Rs 66,800, says Vandana Bharti
Vandana Bharti of SMC Comtrade suggests buying MCX gold futures for a target of Rs 66,800 with a stop loss at Rs 66,300.
At this hour, MCX gold futures (April 5) are trading higher by Rs 199, or 0.3 per cent, for the day at Rs 66,566, having gained to as high as Rs 66,830 earlier in intraday trade so far.
Image: MCXIndia.com
Zydus Lifesciences shares trade volatile after USFDA issues four observations for Ahmedabad plant
Zydus Lifesciences shares traded volatile on Thursday, March 28, after the US health regulator, the FDA, conducted an inspection at the company's manufacturing plant in Ahmedabad and closed it with four observations. This cGMP USFDA inspection was conducted from March 18 to March 27, 2024.
Zydus Lifesciences shares opened at Rs 993 on the NSE, down over 0.5 per cent from the previous close of Rs 999.7. At 9:39 am, the counter traded at Rs 1,006.3, up 0.66 per cent on the NSE.
Precious metals edge higher; yellow metal above Rs 66,550; white metal near Rs 74,850
Domestic precious metal futures on Thursday edged higher as investors awaited key US data due Friday that may influence the Federal Reserve’s monetary-easing path.
Last seen, MCX gold futures (Apr 5) rose Rs 207 or 0.31 per cent at Rs 66,574 per 10 grams at the last count, having traded between Rs 66,465 and Rs 66,830 earlier in the day. MCX Silver futures (May 5) were up Rs 183 or 0.25 per cent Rs 74,845 per kg.
GOCL soars 20% after signing a MoU with Squarespace Builders for land worth Rs 3,402 crore
GOCL Corporation Ltd was off to flying start on BSE on Thursday (March 28, 2024) as its stock skyrocketed by 20 per cent after the one of the largest manufacturers of energetics in India signed a MoU with Squarespace Builders Private Limited, Hyderabad, for the monetisation of 264.50 acres of land.
After closing at Rs 377.80 on Wednesday evening, the GOCL stock began its journey on Thursday at Rs 453.35, which was a 20 per cent jump from the previous close.
Share Market Today LIVE | Nifty Bank jumps over 550 pts in morning trade
Source: NSE
Share Market Today LIVE: Nifty tops 22,350, Sensex jumps over 800 pts amid broad-based buying
Share Market Today LIVE | Nifty FMCG index jumped 18% in 12 months; what lies ahead?
Nifty FMCG, the sectoral index, which is designed to reflect the behaviour of Indian fast-moving consumer goods (FMCG) companies, has gained over 18 per cent in the past one year on the back of resilience in Indian consumer demand, driven by a growing middle-class and increasing urbanisation. Analysts, by and large, remain positive about the space and suggest investing in the stocks from a long-term perspective; however, there are risks one should be mindful of.
Factors contributing to growth in the FMCG space-
>> Government initiatives such as the rural electrification programme, infrastructure development, and rural employment schemes have boosted rural purchasing power, a significant market for FMCG products.
>>The rollout of the goods and services tax (GST) has streamlined the tax structure, reducing operational complexities for FMCG companies and enhancing their competitiveness. Read more
Anil Singhvi Market Strategy | Important levels to track in Nifty50, Nifty Bank today
Zee Business Managing Editor Anil Singhvi sees support emerging at 22,000-22,050 levels and a strong buy zone at 21,850-21,950 levels for the headline Nifty50 index on Thursday, March 28, the last session of the financial year FY24.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Share Market Today LIVE | Should you buy Nestle India, Page Industries, ICICI Bank, HUL, Asian Paints, other stocks today? Here is what brokerages recommend
As Dalal Street enters March 28, brokerages have a dozen stocks on their radar. Here's what Macquarie, JPMorgan, Citi, Morgan Stanley, CLSA, HSBC and Nomura make of stocks such as ICICI Bank, Asian Paints, Godrej Consumer Products Ltd (GCPL), Hindustan Unilever Ltd (HUL), Nestle India and Page Industries:
- CLSA has maintained a 'buy' call on the Avenue Supermarts (DMart) stock with a target of Rs 5,307.
- Macquarie has maintained an 'outperform' rating on DMart shares with a target of Rs 4,500.
- HSBC has maintained a 'buy' call on Sun Pharmaceutical with a target of Rs 1,790.
- Bernstein has maintained an 'outperform' rating on the Sona BLW Precision Forgings stock with a target of Rs 780.
- Nomura has maintained a 'buy' call on the Sona BLW Precision Forgings shares with a target of Rs 794.
- Citi has maintained a 'buy' call on the ICICI Bank stock with target of Rs 1,322. Read more
Share Market Today LIVE | BHEL jumps over 4% after PSU receives Rs 4,000 crore order from Adani Power
Bharat Heavy Electricals Limited trade at Rs 247.75, up 2 per cent on BSE after the PSU received an order worth Rs 4,000 crore from Adani Power Limited. The stock of the PSU was trading higher by 2.47 per cent, or Rs 6.00, at Rs 248.90 at 9:26 am on Thursday.
What is BHEL's order?
BHEL has received an order from Adani Power Limited for setting up the 2x800 MW Raigarh Phase-II Thermal Power Plant at Raigarh, Chhattisgarh.The order contains the supply of equipment - boiler, turbine, generator and associated auxiliaries along with control and instrumentation to Adani Power. Read more
IDFC First Bank Block Deal | 2.6% equity changes hands via multiple block deals; stock slips 2%
Shares of IDFC First Bank trade over 2 per cent lower at Rs 75.9 on NSE after 2.6 per cent equity, or 18.37 crore shares, changed hands via multiple block deals. As per reports, Cloverdell Investment, which is an affiliate of Warburg Pincus, was likely to exit the private sector lender.
As per Zee Business research, Cloverdell was expected to sell its entire 2.25 per cent stake, or about 15.9 crore shares, through a block deal for a floor price of Rs 75 apiece. The block deal size, as per reports, is around Rs 1,191 crore. Read more
ICICI Securities Delisting | 72% of public shareholders vote in favour of delisting
Shares of ICICI Securities and ICICI Bank are on investors' radar on Thursday, March 28, given the former's delisting news. As per reports, 72 per cent of public shareholders have voted in favour of the delisting, while 68 per cent of individual investors have voted against it. Further, 84 per cent of institutional investors are in favour of the delisting of the scrip of the retail stockbroking firm.
Additionally, the scrips will also be in the news, as BSE has sought clarification from ICICI Bank regarding ICICI Securities' delisting news. Read more
Currency Update | Rupee turns flat at 83.33 against US dollar in early trade
Share Market Today LIVE | Nifty above 22,150, Sensex up over 150 pts in opening deals
Nifty 50
Source: NSESensex
Source: BSE
Dividend, Stock Split Stocks | REC, SBI Card, Persistent Systems, HUDCO to trade ex-date today
A bunch of companies, such as REC, SBI Card, Persistent Systems, HUDCO, and others, will trade ex-date today, March 28. Here's the list:
HUDCO dividend 2024 record date
Housing & Urban Development Corporation (HUDCO) has announced an interim dividend of Rs 1.5 per equity share and a record date of March 29.
SBI Card dividend 2024 record date
SBI Cards and Payment Services has announced an interim dividend of Rs 2.5 per equity share and a record date of March 28.
REC dividend 2024 record date
REC has announced an interim dividend of Rs 4.5 per equity share and a record date of March 29. Read more
Market Outlook | Domestic markets could open flat, says Deepak Jasani
"Indian markets could open flat, in line with mixed Asian markets today and despite positive US markets on March 27," says Deepak Jasani, Head of Retail Research, HDFC Securities.
"Nifty formed a small candle with a high upper shadow on March 27. Nifty keeps facing selling pressure as it nears 22,200. Nifty could now remain in the 21932-22204 band for the near term," he adds.
Stocks to Watch | Dr Reddy's Labs, Cyient, REC, IDFC First Bank
IDFC First Bank: Cloverdell Investment, an affiliate of the US-based private equity entity Warburg Pincus, is likely to sell 15.9 crore shares in the private sector bank today via block deal.
Dr Reddy's Laboratories: The company entered into a distribution partnership with Sanofi Healthcare India Private to promote and distribute the vaccine brands of Sanofi, including well-established paediatric and adult vaccines, in India.
Cyient: The company announced a strategic partnership with Deutsche Aircraft for detail design and manufacturing (DFM) of the rear fuselage section for the 40-seater D328eco regional turboprop aircraft.
Zydus Lifesciences: The US Food and Drug Administration (USFDA) conducted an inspection at the manufacturing plant in Ahmedabad. This cGMP USFDA inspection was conducted from March 18 to March 27, 2024. The inspection closed with four observations.
REC: REC's board approved the market borrowing programme worth Rs 1,60,000 crore.
PCBL: The company approved the issuance of up to 1,60,00,000 warrants of the company at a price of Rs 280.
Chalet Hotels: The company launched a QIP issue and set the floor price at Rs 780.76 per share. Read more
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 up 7.45 points or 0.03 per cent at 22,174.5 ahead of the opening bell on Dalal Street.
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