Share Market HIGHLIGHTS: Sensex ends 455 pts lower, Nifty cracks below 22,000 dragged by financial, FMCG stocks
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex continued to fall for the fourth session in a row on Thursday with financial and FMCG stocks leading the losses. Catch all the highlights of the April 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 kicked off the trading day on Thursday with a notable upward trajectory as both the Sensex and Nifty indices opened with gains after the Ram Navami holiday.
Catch all the highlights of the April 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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Share Market Today: Sensex ends 455 pts lower, Nifty cracks below 22,000 as market falls for 4th session in a row
Financial, FMCG stocks lead losses
Share Market Today LIVE | Biocon jumps after biopharma firm inks deal with Brazil-based Biomm SA
Biocon rose by over 3.75 per cent on BSE on Thursday (April 18, 2024) after the company signed an exclusive licensing agreement with Biomm SA.
The stock that began its journey on Thursday at Rs 272.25 touched the day's high of Rs 273.00, a 3.76 per cent rise from its previous close of Rs 263.10.
Share Market Today LIVE | Five stocks where FIIs increased their stake in March quarter; do you own any?
Investors, both institutional and retail, revise their investment portfolios regularly to get maximum returns. They add and/or buy securities that hold promise and have a positive outlook and trim, or sell their stakes in those securities whose future performance looks gloomy for a host of reasons.
The latest shareholding pattern (March 2024 quarter) shows that foreign investors (FIIs and FPIs) have raised their stakes in a diverse set of companies.
Share Market Today LIVE | ONGC gains over 1% as Morgan Stanley maintains overweight view; stock gains 79% in 1 year
Shares of the upstream oil company Oil and Natural Gas Corporation gained in early trade by as much as as 1.6 per cent to day's high at Rs 287.55 Morgan Stanley continues with its overweight view on the stock for a target of Rs 304 per share. This implies a decent upside of 7 per cent over the previous close.
The company's outperformance is likely to continue with improved capital allocation & stable regulations supporting stable 18-20% ROE, the brokerage said.
Share Market Today LIVE | Angel One reports mixed Q4 no.s; stock rises over 8%
Shares of Angel One gained over 8 per cent in Thursday's morning deals and touched the intra-day high of Rs 3,099 apiece on BSE after the company reported its Q4 numbers.
As of 9:44 a.m., shares of Angel One traded over 2.96 per cent or Rs 84.55, higher at Rs 2,936 apiece on BSE. The market capitalisation of the company at around the same time stood at Rs 26,331.78 crore.
Share Market Today LIVE | JM Financial initiates coverage on LIC stock on strong value; sees 25% upside potential
The domestic brokerage JM Financial iterates its buy call on Life Insurance Corporation of India and believes that non-participating book at the company which is its key focus area now provides growth opportunity to the company. The brokergae maintains a 'buy' on the stock and has pegged the target at Rs 1222 per share.
Here are the 3 key reasons why the brokerage has turned bullish on the counter and initiated coverage with a 'buy':
Share Market Today LIVE | Tata Communications rises despite reporting mixed fourth-quarter results
Tata Communications rose by over two per cent on BSE on Thursday (April 18, 2024) after the telecom company reported mixed fourth-quarter results a day ago.
The stock that opened at Rs 1,846.90 on Thursday rose to the day's high of Rs 1,923.05, a 2.07 per cent rise from its previous close of Rs 1,884.05.
Share Market Today LIVE | Vedanta targets $750 crore EBITDA in 2 years; stock hits 52 week high
Vedanta shares clocked a 52 week high at Rs 391 apiece on BSE after Vedanta Ltd Chairman Anil Agarwal said the current financial year that started on April 1 will be a transformative year for his conglomerate Vedanta.
As of 10:27 a.m., shares of Vedanta traded over 2.57 per cent or Rs 9.7, higher at Rs 387.7 apiece on BSE. The market capitalisation of the company at around the same time stood at Rs 1,44,320.16 crore.
Share Market Today LIVE | IIFL Finance shares gain after board gives nod to rights issue—check out record date, share issue price
IIFL Finance shares surged on Thursday, April 18, a day after the NBFC's board approved raising up to Rs 1,271.83 crore from a rights issue at a price of Rs 300 per share. The IIFL stock rose nearly three per cent to the day's high of Rs 433.55 on NSE in morning deals.
Last month, the IIFL board approved raising an amount not exceeding Rs 1,500 crore by way of issue of shares on a rights basis to existing eligible shareholders as on the record date.
Share Market Today LIVE | Paytm jumps over 3.30% after NPCI's nod to start user migration to new PSP bank handles
One97 Communications Ltd, the parent company of Paytm, jumped by over 3.30 per cent on BSE on Thursday (April 18, 2024) a day after it received the go-ahead from NPCI to start the user migration to new Payment System Provider (PSP) bank handles immediately.
The stock that closed at Rs 391.35 on Wednesday started Thursday's session at Rs 400.45.
Share Market Today LIVE | Vodafone Idea jumps over 4.30% on first day of its FPO offer
Vodafone Idea jumped over four per cent on BSE on Thursday (April 18, 2024) on a day when its follow-on public offer (FPO) opened for subscription.
The stock that began its journey at Rs 13.08 on Thursday rose to the day's high of Rs 13.48, a 4.33 per cent jump from the previous close of Rs 12.92.
Share Market Today LIVE | This multibagger smallcap stock climbs 6% on US EV market foray
Shares of Ramkrishna Forgings in trade on Thursday climbed as much as 6 per cent to day's high price of Rs 763.8 per share on the BSE after the company made its debut in the US electric vehicle market.
The company in its exchange filing today said that it has secured an approval for supplying Power Train Components to USA's largest Electric Passenger Vehicle Producer.
Just Dial stock hits 52-week high, shares jump over 13% after Q4FY24 results
Shares of Just Dial rose as much as 13 per cent in the opening deals on Thursday, April 18, after the company shared its quarterly results for the fourth quarter of the current fiscal (Q4 FY24) that ended on March 31, 2024.
The stock climbed 12.97 per cent to Rs 1,010 -- its 52-week high -- on the BSE while on the NSE, it jumped 13.34 per cent to hit the 52-week high of Rs 1,010.
Share Market Today LIVE | Why is Investec bullish on the dairy sector?
The Indian dairy sector, which has experienced several obstacles in the last three years, such as demand disruptions due to the COVID-19 pandemic and milk shortages that led to a sharp increase in prices, is finally moving past the tough stretch and offers an opportunity for investors to tap into the rising discretionary consumption in the country.
As consumer preferences evolve towards value-added dairy products, private players should gain. In the medium term, the anticipated decrease in inflationary pressures should drive earnings growth, the brokerage firm Investec said in its report issued on April 13. Read more
Share Market Today LIVE | Five stocks where FIIs increased their stake in March quarter; do you own any?
Investors, both institutional and retail, revise their investment portfolios regularly to get maximum returns. They add and/or buy securities that hold promise and have a positive outlook and trim, or sell their stakes in those securities whose future performance looks gloomy for a host of reasons.
The latest shareholding pattern (March 2024 quarter) shows that foreign investors (FIIs and FPIs) have raised their stakes in a diverse set of companies. Here is a list of five such stocks where FII shareholding saw a substantial increase. Read more
Traders' Diary | Buy, sell or hold strategy on HPCL, IOCL, Eicher Motors, Britannia, Wipro, 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 Thursday, April 18, 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 Piramal Pharma shares in the cash segment for a target price of Rs 146 with a stop loss at Rs 138
- Buy Samvardhan Motherson futures for a target of Rs 130 with a stop loss at Rs 121
- Buy the Rs 4,350 call option of Eicher Motors at Rs 90 for a target of Rs 130 with a stop loss at Rs 75
- Technical pick: Buy Aarti Industries futures for a target price of Rs 771 with a stop loss at Rs 740
- Fundamental pick: Buy Britannia Industries shares for a one-year target of Rs 5,500
- Investment idea: Buy Bharti Airtel shares for a one-year target of Rs 1,500. Read more
Share Market Today LIVE | Nifty Bank falls from day's high
Source: NSE
Share Market Today LIVE | ICICI Lombard shares gain over 4% after-Q4 results; what should investors do?
Shares of ICICI Lombard surge after the the insurance company reported better-than-estimated Q4 earnings results. The stock gains 4.24 per cent to the day's high of Rs 1,718.7 on NSE, extending the winning streak for the second session. Read more
ICICI Lombard Q4 results
On Wednesday, post market hours ICICI Lombard posted an 18.9 per cent increase in its March quarter net profit to Rs 520 crore and sounded confident about the industry growth in the new fiscal. The city-based company had reported a post-tax net profit of Rs 437 crore in the year-ago period. In 2023-24, the company reported an 11 per cent growth in the profit after tax at Rs 1,919 crore against Rs 1,729 crore in the year-ago period. Read more
ICICI Lombard share price target
ICICI Lombard General Insurance Brokerage Rating Target (INR) CLSA Underperfom 1760 Goldman Sachs Neutral 1630 Jefferies Buy 1950 Morgan Stanley Overweight 1875 HSBC Buy 1990 Macquarie Underperform 1100 Anil Singhvi Market Strategy | Important levels to track in Nifty50, Nifty Bank today
Zee Business Managing Editor Anil Singhvi sees support emerging at 22,000-22,075 levels and a strong buy zone at 21,825-21,950 levels for the headline Nifty50 index on Thursday, April 18. For the Nifty Bank, he expects initial support to come in at 47,125-47,250 levels followed by a stronger support zone at 46,875-47,025 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Stocks to Buy | Vedanta, BHEL, ICICI Lombard, Escorts Kubota, Cochin Shipyard among analysts' top picks
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Rakesh Bansal, Kunal Saraogi, Sumeet Bagadia and Vikas Sethi share their top stock recommendations in this special segment, Pick of the Day.
On the top analysts' 'buy' list are stocks such as Bharat Heavy Electricals Ltd (BHEL), ICICI Lombard, Cochin Shipyard, Escorts Kubota, Dr. Lal PathLabs, Blue Star, Samvardhana Mothersona and Vedanta. Read more
Currency Update | Rupee rises 12 paise to 83.49 against US dollar in early trade
Share Market Today LIVE | Nifty near 22,250, Sensex up over 250 pts in opening deals
Nifty 50
Source: NSESensex
Source: BSE
ABB India, L&T, Cummins | Have industrial stocks in your portfolio? Check what Nomura's latest report says
Global brokerage Nomura, in its latest report on industrial stocks, has double downgraded ABB stock to a 'buy' rating but has raised the target price to Rs 6,660 from Rs 5,740. The company's shares closed at Rs 6,647.20 apiece on the BSE in the previous session.
On L&T, the brokerage has maintained a 'buy' and has revised the target price upwards to Rs 4,230 from Rs 4,090 earlier. Further, Nomura has maintained a 'neutral' rating on Cummins but has raised the target price to Rs 3,040 from Rs 2,510 earlier. Read more
Stocks to Watch | Tata Communications, Infosys, Power Grid, other stocks
Here are some stocks that will be in focus on Thursday, April 18:
Tata Communications: The company's net profit for the month ended on March 31, stood at Rs 321.52 crore against Rs 326.34 crore a year ago. Total income for the quarter under review stood at Rs 5748.7 crore against Rs 4630.45 crore.
Infosys: The IT company announced a collaboration with Proximus, Belgium to standardise its existing processes on the ServiceNow platform and transform its customer service management (CSM) operations.
Power Grid: The company's board approved the raising of bonds of up to Rs 12,000 crore during FY24-25 in one or more tranches.
Happiest Minds Technologies: The company announced the new GenAI chatbot - ‘hAPPI’, developed by its Generative AI Business Services (GBS) unit for Happiest Health.
DCB Bank: The company's board will consider Q4 results and a dividend in a meeting on April 24.
Sunteck Realty: The company said in its Q4 business update that its pre‐sales grew by 26 per cent year-on-year (YoY) and 49 per cent quarter-on-quarter (QoQ) in Q4 FY24.
Elin Electronics: The company has appointed Praveen Tandon as CEO w.e.f. April 17, 2024. Read more
Infosys Q4 Preview | PAT likely to grow marginally, margin may remain steady; all eyes on FY25 guidance
Bengaluru-headquartered IT major Infosys is slated to report its March quarter earnings today, April 18. Brokerages envision margin expansion for Infosys by a marginal quantum amid lower operating expenses. Axis Securities expects the company to report revenue growth of 0.3 per cent sequentially. Also, at the same time, the company’s management is seen to give a revenue growth guidance of 4.5-6 per cent for FY25E.
Zee Business research desk estimates EBIT margin during Q4 at 20.7 per cent as against 20.5 per cent in the preceding quarter. Read more
Image: Reuters/ Representational image Share Market Today LIVE | GIFT Nifty futures indicate a negative start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are down 21.75 points or 0.1 per cent at 22,179 ahead of the opening bell on Dalal Street.
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