Share Market HIGHLIGHTS: Sensex ends 314 pts lower, Nifty50 slides to 21,462 as market extends losses to 3rd day; LTIMindtree plunges 11%, HDFC Bank drops 3%
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty50 and Sensex continued to fall for a third straight session on Thursday. Catch all the action in the January 18 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 fall for a third straight session on Thursday, January 18, amid selling across a host of heavyweights including HDFC Bank and LTIMindtree. Globally, macroeconomic data from the US dashed nascent hopes of an earlier rate cut in the world's largest economy than anticipated earlier. Catch latest updates on Q3 results season here
Catch all the highlights of the January 18 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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Closing Bell | Sensex down 314 pts, Nifty50 slides to 21,462 as market continues to fall for 3rd straight day; LTIMindtree plunges 11%, HDFC Bank drops 3%
Share Market Tips LIVE | Buy Ashoka Buildcon, ASK Automotive shares, says Vikas Sethi
Vikas Sethi of Sethi Finmart recommends buying Ashoka Buildcon shares for a target of Rs 175 with a stop loss at Rs 154. Besides, he recommends buying ASK Automotive shares for a target of Rs 310 with a stop loss at Rs 285.
HUL Q3 preview | EBITDA to grow 5% on-year; management's commentary on demand trends and margins eyed
Hindustan Unilever (HUL), the country’s leading fast-moving consumer goods (FMCG) player, is set to declare its Q3 numbers tomorrow (January 19). Zee Business research desk estimates Q3 standalone revenue to come in at Rs 15,324 crore for the December-ended quarter versus Rs 15,228 crore on the back of price reductions during the period under review, posting a 1 per cent increase year-on-year (YoY).
Additionally, concerning the EBITDA, which is a measure of profitability, the desk estimates a 5 per cent YoY increase to Rs 3,699 crore versus Rs 3,537 crore. The research team notes that the higher outlay towards ad spending will impact the margins. Read more
Equities, bonds or gold | Where can investors find value in 2024?
Having a balanced investment portfolio is a must for living a hassle-free and accomplished life. However, given the fluctuating market mood due to several domestic as well as global factors, it becomes a daunting task for investors to have the right mix of assets to achieve their financial goals.
That said, in this article, we try to understand how the equity, debt, and gold markets can fare going forward this year and how investors should decide their asset allocation. Equities will be rewarding in the long run; lump sums can be deployed into quality large-caps
Equities have been rewarding as well as risky. After a phenomenal run that led the indices to a new high on Wednesday (January 17), Indian equities tumbled by a sharp quantum. While this was on expected lines, experts from the space still vouch for higher or one-time allocation in large-caps while increasing their allocation in mid- and small companies that command relatively higher valuations. Read more
Share Market Today LIVE | Dolly Khanna picks fresh stake in this multi-bagger NBFC in December quarter
Ace investor Dolly Khanna has added the stock of Ujjivan Financial Services to her portfolio, worth around Rs 501.3 crore, as per Trendlyne data. The investor, as per the December quarter shareholding data, has added 13,74,146 shares, equating to a 1.13 per cent stake in the NBFC firm. This is a fresh addition during the December-ended quarter.
Retail investors need to be mindful of the investments made by ace investors, as these investors tend to bag stocks after much diligence and analysis. These investors are adept at analysing market trends, carrying out in-depth research, and identifying lucrative investment opportunities. The stock of Ujjivan Financial Services trades at relatively cheap valuations considering its low TTM price to earnings of 8.5. Read more
Share Market Today LIVE | Should you buy Asian Paints, Tata Motors, M&M, Bajaj Auto, other stocks today? Here is what brokerages suggest
Here's what Bernstein, Nomura, CLSA, Macquarie, Morgan Stanley, JPMorgan, Jefferies, Goldman Sachs, Citi and HSBC make of a bunch of stocks, such as Asian Paints, Maruti Suzuki, Tata Motors, M&M and TVS Motor Company:
HDFC Bank share price target:
Bernstein has maintained an 'outperform' rating on HDFC Bank with a target of Rs 2,200.
REC, PFC
CLSA has maintained a 'buy' call on REC and PFC each with targets of Rs 510 and Rs 490.
Maruti Suzuki, Hero MotoCorp, Bajaj Auto
Macquarie has a 'neutral' rating on Maruti Suzuki India, Hero MotoCorp and Bajaj Auto each with targets of Rs 10,608, Rs 4,882 and Rs 7,867 respectively.
Tata Motors, M&M, TVS Motor Company
Macquarie has maintained an 'outperform' rating on Tata Motors, Mahindra & Mahindra and TVS Motor Company each with targets of Rs 921, Rs 1,801 and Rs 2,331 respectively.
ICICI Prudential Life Insurance share target price:
Jefferies and Citi have maintained their 'buy' ratings on ICICI Prudential Life Insurance Company with targets of Rs 630 and Rs 670 respectively. Read more
Share Market Today LIVE | ICICI Prudential down 6% after insurance firm clocks weak December quarter numbers
ICICI Prudential shares trade 6 per cent lower at Rs 485.1 on BSE after the insurance company reported weak December quarter numbers a day ago.
ICICI Pru Q3 results
In the results announced on Wednesday, the insurance company from ICICI reported a below estimate standalone profit of Rs 227 crore, which was 2.7 per cent up from Rs 221 crore Year-on-Year (YoY).
Zee Business research estimated the profit to be Rs 245 crore. The company's net premium was also up by 4.9 per cent to Rs 9929 crore in the quarter under review from Rs 9465 crore a year ago, but it was below the analysts' estimate of Rs 9785 crore. Read more
Share Market Today LIVE | HDFC Bank shares continue to slide; what should investors do after 12% fall in 2 days?
HDFC Bank shares continue to slide for the second straight day, in line with the broader market weakness. Shares of the biggest private lender trade 2.08 per cent lower at Rs 1,504.9 apiece on BSE.
Nonetheless, considering the day's low of Rs 1,480.25, the stock is just a per cent away from marking the 52-week low price of Rs 1,460.25 hit on October 26, 2023. Dr. V K Vijayakumar, Chief Investment Strategist, at Geojit Financial Services, said that at elevated valuations, the market needs only a trigger for a sell-off, and yesterday this trigger came in the form of HDFC Bank’s worse-than-expected results. Read more
Share Market Today LIVE | Market witnessed its highest one-day sell-off by FIIs in six years on Wednesday; one-month inflows wiped out
The disappointing Q3 results by the private banking major HDFC Bank led to a sharp fall in headline indices on Wednesday. As per Zee Business desk, of the total slide of 460 points on the NSE 50-share index, 250 points were accounted for solely by HDFC Bank. Similarly, the lender contributed an enormous 1,150 points to the huge descent in the Bank Nifty index. Other notable counters that led to the fall of the Nifty are ICICI Bank, Kotak Bank, SBI, and IndusInd Bank, with their weights listed separately below. Read more
Share Market Today LIVE | LTIMindtree shares nosedive after weaker-than-expected Q3 results; what should investors do?
LTIMindtree shares suffer heavy losses on Thursday, a day after the IT company reported a weaker-than-expected set of quarterly results that triggered a several brokerages to reduce their targets for the stock. The stock falls as much as 13 per cent to hits the day's low at Rs 5,436 on BSE.
LTIMindtree Q3 results
After market hours on Wednesday, the company reported a 0.6 per cent quarter-on-quarter increase in consolidated net profit to Rs 1,168.9 crore for the quarter ended December 31, 2023 (Q3 FY24). The technology consulting and digital solutions company's consolidated revenue from operations increased 1.2 per cent sequentially to Rs 9,016.6 crore while revenue in dollar terms grew 0.8 per cent. Read more
Stocks to Buy | Infosys, Zomato, Persistent Systems among analysts' top picks
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Himanshu Gupta, Vikas Sethi, Rakesh Bansal and Kunal Saraogi share their top stock recommendations in this special segment, Pick of the Day. On the analysts' 'buy' list for the day are stocks such as Persistent Systems, Zomato, Infosys, LIC and Coforge. Read more
Share Market Today LIVE | Nifty slips below 21,400, Sensex drops over 450 pts
Share Market Today LIVE | Asian Paints shares slip in trade post-Q3 result; take a look at brokerages' views
Asian Paints shares slip as much as six per cent to hit the day's low at Rs 3,048.6 on NSE after global brokerages turned mixed post paint major's third quarter ended December 2023 (Q3 FY24) results and weakness in the domestic market. The counter continuing the fall for 2nd trading day, trades at Rs 3,134.35, down by Rs 107.95 or 3.33 per cent on NSE.
Asian Paints reported a 34.46 per cent increase in its consolidated net profit at Rs 1,475.16 crore for the third quarter ended December 2023 (Q3 FY24), helped by softening of raw material prices and better efficiencies. Read more
Share Market Today LIVE | Government to disinvest 3.5% stake in NHPC through OFS; stock declines
Shares of NHPC, a public sector power company, slip over 4 per cent on Thursday after the government proposed to disinvest a 3.5 per cent stake through an offer for sale (OFS). The floor price for the same is set at Rs 66 per share. Shares of NHPC slip 4.33 per cent or Rs 3.16, to Rs 69.9 apiece on the BSE. The market capitalisation of the company stands at Rs 70,214.79 crore. 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 21,350-21,450 levels and a strong base at 21,150-21,250 levels on Thursday, January 18. For the Nifty Bank, he expects support to come in at 45,500-45,650 and 45,225-45,375 levels and a strong base at 44,950-45,150 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Currency Market | Rupee falls 2 paise to 83.16 against US dollar in early trade
Share Market Today LIVE | Nifty slips below 21,450, Sensex drops over 400 pts
Nifty 50
Source: NSESensex
Source: BSE
Q3 results | More than 40 companies to report earnings today
Domestic markets are poised to witness a diverse display of Q3 financial performances. From Polycab to Tata Communications, South Indian Bank, IndiaMART and Poonawalla Fincorp, here is the list of companies which are slated to release their earnings report today:
Stock Result Date 360ONE 18-Jan-24 ACCELYA 18-Jan-24 AURUM 18-Jan-24 DBOL 18-Jan-24 DRAGARWQ 18-Jan-24 DRCSYSTEMS 18-Jan-24 FERVENTSYN 18-Jan-24 FINPIPE 18-Jan-24 GGAUTO 18-Jan-24 GGENG 18-Jan-24 HOMEFIRST 18-Jan-24 INDIAMART 18-Jan-24 INDUSINDBK 18-Jan-24 INNOVACAP 18-Jan-24 JSL 18-Jan-24 KSOLVES 18-Jan-24 LYNMC 18-Jan-24 MARKOBENZ 18-Jan-24 MASTEK 18-Jan-24 METROBRAND 18-Jan-24 NATHBIOGEN 18-Jan-24 NETLINK 18-Jan-24 POLYCAB 18-Jan-24 POONAWALLA 18-Jan-24 QUASAR 18-Jan-24 RAJNISH 18-Jan-24 REVAORG 18-Jan-24 RKFORGE 18-Jan-24 SHOPERSTOP 18-Jan-24 SHRINIWAS 18-Jan-24 SOUTHBANK 18-Jan-24 SPENTA 18-Jan-24 SPLPETRO 18-Jan-24 STL 18-Jan-24 SURAJLTD 18-Jan-24 SURANASOL 18-Jan-24 SWSOLAR 18-Jan-24 TATACOMM 18-Jan-24 TIERRA 18-Jan-24 VBDESAI 18-Jan-24 Stocks to Watch | HDFC Bank, LTIMindtree, Avenue Supermarts, Nazara Technologies
Here are some stocks that will be in focus on Thursday, January 18:
HDFC Bank: The company's ADR slipped 9 per cent in the overnight trade after a heavy sell-off in the domestic market in the previous session as the lender's Q3 result disappointed investor sentiment.
Oracle Fiance: The company reported a strong set of numbers for the December quarter. Revenue jumped 26 per cent while the net profit surged 78 per cent. Margins increased to 46.6 per cent.
LTIMindtree: The company's net profit for the third quarter ended on December 31 stood at Rs 1169.3 crore against Rs 1000.7 crore Year-on-Year (YoY) and Rs 1162.3 crore quarter-on-quarter (QoQ). The IT company's revenue stood at Rs 9016.6 crore against Rs 8905.4 crore for the quarter ended September 30.
Honasa Consumer: Mamaearth, the flagship brand under Honasa Consumer Limited, launched its 100th exclusive brand outlet (EBO) in Mumbai.
IIFL Finance: The company recorded a consolidated net profit of Rs 545.19 crore for the third quarter ended December 31 against Rs 423.21 crore a year ago. The revenue for the quarter under review stood at Rs 2,647.48 crore against Rs 2,120.86 crore year-on-year (YoY). Read more
Share Market Today LIVE | GIFT Nifty futures indicate a weak start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are down 196.55 points or 0.91 per cent at 21,393 ahead of the opening bell on Dalal Street.
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