Share Market HIGHLIGHTS: Sensex ends 128 pts higher at 74,611, Nifty50 two pts shy of 22,650 as auto stocks shine
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex registered mild gains on Thursday, driven by buying interest in auto stocks though selling pressure in financial shares limited the upside.
Catch all the highlights of the May 2 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:
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex registered mild gains on Thursday, driven by buying interest in auto stocks though selling pressure in financial shares limited the upside.
Catch all the highlights of the May 2 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
Forex Market Update: Rupee settles at 83.46 vs dollar
The rupee ends weaker by three paise against the greenback at a provisional 83.46.
Share Market Today: Sensex up 128 pts at 74,611, Nifty50 two pts shy of 22,650 as auto stocks shine
Read more about the session here
Share Market Today LIVE | Nifty at 22,667.85 and the Sensex up 168.96 points at 74,651.74 as market enters last 30 minutes of trade
Look at the positions of the major indices at this hour:
- Sensex at 74,651.74 is up 168.96 points
- Nifty gained 64.60 points to 22,567.85
- At 49,262, Nifty Bank is down 180.85 points
Share Market Today LIVE | Britannia Q4 Results Preview: Tiger biscuit maker's margin may shrink by 90 bps; here is why
FMCG major Britannia is all set to report its financial results for the January-March period on Friday, May 3.
Analysts expect the Kolkata-headquarter company, whose popular biscuit brands include Good Day, Tiger, Marie Gold, Milk Bikis and Nutrichoice, to face some margin pressure in the fourth and final quarter of the financial year 2023-24 due to increases in grammage owing to stiff competition and higher advertising expenditure amid mild growth in sales volumes.
Share Market Today LIVE | Buy J&K Bank shares, says Vikas Sethi
Vikas Sethi of Sethi Finmart recommends buying the Jammu and Kashmir Bank stock with a target of Rs 150 with a stop loss at Rs 130.
Share Market Today LIVE | Buy Tata Tech shares, says Vikas Sethi
Vikas Sethi of Sethi Finmart recommends buying the Tata Technologies stock with a target of Rs 1,150 with a stop loss at Rs 1,045.
Share Market Today LIVE | Cholamandalam Investment shares gain 5% post-Q4 results; brokerages mixed
Shares of Cholamandalam Investment and Finance Company surged over five per cent on Thursday, May 2 after the company reported a 24.5 per cent rise in net profit to Rs 1,065 crore for the March quarter on account of an increase in the core business.
The stock rose as much as five per cent to the day's high of Rs 1,258.6 on BSE in opening deals.
Share Market Today LIVE | Ashok Leyland zooms 3.7% on strong April sales
Shares of Ashok Leyland surged 3.71 per cent on BSE on Thursday (May 2, 2024) after the commercial vehicle major reported above-Zee Business research estimate sales figures for April month.
As of May 2, 2024, 12:47 pm, the stock price rose to Rs 199.70, marking a gain on the back of positive sales data.
Share Market Today LIVE | Godrej Industries, Godrej Consumer Products, Godrej Properties, and other group stocks in focus after split
Godrej Group shares traded mixed after an agreement was reached on the division of Godrej Group.
As per the agreement reached late Tuesday, the 127-year-old group will be split into two entities - one led by Adi Godrej and his brother Nadir and the other by their cousins Jamshyd and Smita.
Share Market Today LIVE | BSE shares gain over 3% on revision in transaction charges in equity derivatives segment
Shares of the country’s oldest exchange BSE in Thursday's trade (May 2, 2024) gained up to 3 per cent to day's high of Rs 2885 per share on the NSE after it has issued a notice in respect of revision in transaction changes in the equity derivatives segment.
Here below is the summary of the new charges that shall be in force:
Share Market Today LIVE | MOIL shares soar 9% to all-time high; here's what is driving the rally
Shares of state-owned manganese ore mining company MOIL Ltd. hit an all-time high of Rs 443.5 in trade on May 2.
The sharp gains to the tune of over 9 per cent are spurred in the stock after the company in line with its business practice of fixing or revising prices of manganese ore and other products informed about the new revised prices that will come into effect from May 1, 2024.
Share Market Today LIVE | IOCL's net profit halves in Q4; what should investors do?
Shares of Indian Oil Corporation (IOCL) trade 2.93 per cent higher at Rs 173.9 after brokerages revised their stance on the stock after the company reported its Q4FY24 numbers.
IOCL reported its Q4 results on Tuesday during market hours. The state-run oil company reported a halving of its March quarter net profit largely because of losses in the petrochemical business and shrinking margin after it announced a pre-election fuel price cut despite rising input costs.
What should investors do?
Jefferies maintained a 'hold' and cut the target price to Rs 175 from Rs 215. CLSA continued with a 'sell' raised target to Rs 120 from Rs 115 apiece. Meanwhile, JP Morgan iterated the 'overweight' rating and cut the target to Rs 195 from Rs 205 apiece. Read more
Share Market Today LIVE | What should investors do with Indus Towers shares post-Q4 results?
Shares of Indus Towers remain on investors' radar after the telecom infrastructure company's operationally good performance in fourth quarter ended March 2024. Indus Tower shares gain over two per cent to the day's high of Rs 363.6 on the NSE.
Indus Towers Q4 Results
The company reported around a 32 per cent jump in its consolidated net profit for the fourth quarter ended March 2024. It had registered a net profit of Rs 1,399.1 crore a year ago, as per the company's regulatory filing.
Indus Towers share price target: Here's what brokerages say
JP Morgan has downgraded Indus Towers stock to neutral from overweight, however, the brokerage has raised the target price to Rs 340 from Rs 260. Macquarie has maintained a neutral rating with a target of Rs 230. Read more
Share Market Today LIVE | Should you buy Exide, REC, Sona BLW, IndiaMART InterMESH, other stocks today?
Brokerages have several stocks on their radar. Here's what Jefferies, Nomura, Citi, JPMorgan, CLSA and Morgan Stanley make of stocks such as Exide, REC, Sona BLW Precision Forgings, and IndiaMART InterMESH:
Sona BLW Precision Forgings
Three brokerages, Jefferies, Nomura, and Citi have maintained a 'buy' call on the Sona BLW Precision Forgings stock with a target of Rs 740, Rs 775, and Rs 720, respectivelt. While CLSA has maintained an 'outperform' rating on the stock with a target of Rs 642.
JPMorgan has a 'neutral' rating on Sona BLW shares with a target of Rs 520. from 505.
Cholamandalam Investment and Finance
Jefferies has maintained a 'buy' call on the Cholamandalam Investment and Finance stock with a target of Rs 1,400.
Two brokerages, CLSA and Nomura have maintained a 'reduce' rating on Cholamandalam Investment shares with a target of Rs 1,300 and Rs 1,000, respectively.
Morgan Stanley has maintained an 'equal-weight' rating on Cholamandalam Investment with a target of Rs 1,250. Read more