BUZZING STOCKS
Craftsman Automation shares rally 11% after company signs MoU for potential acquisition
Craftsman Automation's stock rose 11% on BSE after a significant MoU with Sunbeam Lightweighting Solutions and Kedaara Capital Fund II for a potential acquisition.
Happiest Minds shares tumble over 9% on promoter stake sale buzz
Happiest Minds shares decline 9.5% as Ashok Soota likely sells 6% stake, 91.3 lakh shares. Q4FY24 PAT up 24.8%, revenue grows 9.5% YoY. Trading in overbought zone near 71 RSI level.
Global trends, trading activity of foreign investors to guide movement in mkts this week: Analysts
Stock markets will take cues from trading activity of foreign investors and global trends this week with benchmark equity indices likely to face volatility amid the scheduled monthly derivatives expiry, analysts said. Moreover, factors such as the progress of monsoon and Brent crude oil would also dictate investors' sentiment during the week.
Buzzing! Insurance stocks in focus after IRDAI increases surrender value
Insurance stocks rose up to 3% after IRDAI increased surrender values for non-linked products, affecting insurers like LIC, HDFC Life, and Max Life. Shares of LIC, HDFC Life, and SBI Life were up on BSE. Nuvama awaits more details from companies next week.
Block Deal Buzz: Blackstone offloads 15% stake in Mphasis worth Rs 7,000 crore; stock drops 4%
Global investment firm Blackstone likely sold a 15% stake in Mphasis, leading to a 3.7% share price drop. It's the year's second-largest block deal. Blackstone, owning 55.45%, will drop to 40.4% after the deal. Mphasis specializes in IT services, especially in BFSI. Last year, shares rose 27.5%, but in 2024, they fell 13.6%.
EIH Associated Hotels shares rally 17% ahead of bonus shares issue plan
EIH Associated Hotels surged 17% to Rs 845 on BSE as it plans to issue bonus shares. The company's strong performance is evident from Trendlyne data. It is part of The Oberoi Group, known for luxury hotels and various services.
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Chandrababu Naidu effect: Heritage Foods, KCP jump up to 40% in unbeaten rally. 7 more gain on Andhra connection
The stocks have been on a rise since Naidu’s sweeping win in the assembly election and Lok Sabha elections. Naidu's TDP in alliance with BJP and Pawan Kalyan's JSP bagged 165 of 175 seats in the Andhra Pradesh assembly election, defeating YSRCP's Jagan Mohan Reddy.
Startups’ new hiring strategies; unprecedented poll buzz online
Happy Thursday! While layoffs continue, startups are strategically refilling certain open positions with lower-salaried junior staff to cut costs. This in today’s ETtech Morning Dispatch.
Nifty May poll vault above 23,110 life-high
Nifty is expected to cross its current all-time high of 23,110 early this week driven by optimism around the exit polls that is hinting at the BJP-led NDAreturning to power with a strong majority. Analysts expect short covering if Nifty holds above the 21,821 zone. Bajaj Auto, Britannia, Coal India, HDFCBank, Union Bank, Fortis, Indus Towers, Dixon and BHEL are some of the stocks recommended by the analysts for short-term trading
First among equals: 5 PSU stocks which have benefited the most due to government policy push, spending & may continue their journey
Right from perennial under-performers like oil marketing and refining companies to PSU banks. Literally every stock which has the tag of “PSU” stock has seen a re-rating in the last two years. Now that the exit polls are predicting what the street has been looking for, that is continuity in the policy making framework, there is a high probability that there will be another round of re-rating of PSU stocks. So, continued policy and continued re-rating. Like the earlier re-rating, this time also, some sectors and stocks in the PSU space will outperform others. A company which is going to be providing finance for the expansion of the solar energy network which is the next focus area of the government. The overall demand runway for some of the sectors is longer. This essentially means that while every PSU is likely to see a push, there are a select few which are likely to see more tailwinds of business growth and valuation expansion.
The unexpected boon for the otherwise boring industrial products from AI boom
Stocks in the utility space are no longer the sedate ones that are reserved for defensive investors seeking steady returns. They have now caught the fancy of momentum investors and traders. With the successful spinning of the AI story to the power and industrial stocks, they have become the most trending ones that are vying for the top spot, albeit behind tech stocks.
New-age brands buzz on deal street; Unacademy founders’ voting rights
Happy Friday! New-age brands are attracting capital from VC funds, founders and other types of investors. This and more in today’s ETtech Morning Dispatch.
Candidates of strong directional move on 4th June: 5 PSU stocks which have benefited the most due to government policy push and spending
In the last two years, it is a well known fact that every PSU stock has been re-rated by the street, right from perennial under-performers like oil marketing and refining oil companies to PSU banks. But if one looks a bit deeper there are some which have been re-rated more than others. The reason, these are PSUs which are from the sectors where the government has clearly decided are its priority areas and there has been a policy push for these sectors. A company which is going to be providing finance for the expansion of the solar energy network which is the next focus of the government. The overall demand runway for these sectors is longer which means overall growth will be higher when confirmation of policy continuity comes. Also they are in business where it would be difficult for the private sector to compete. Now because it is the policy push which matters, the continuity of tailwinds of higher government spending, will push them for another round of re-rating on the result day.
PSU banks' profit jumps over 4 times in 3 years to Rs 1.4 lakh crore in FY24
PSU banks' net profit skyrockets to Rs 1.4 lakh crore in FY24, driven by key factors like asset quality improvements, robust margins, and strong loan book growth. SBI emerges as a major contributor, showcasing a remarkable earnings turnaround.
Tata Chemicals shares crash 10% after Tata Sons IPO buzz fizzles out
Shares of Tata Chemicals hit lower circuit as Tata Group tries to avoid Tata Sons IPO. Tata Investment Corporation joins after rally. Tata Sons explores restructuring options to avoid getting listed.
Buzz on Tata Sons IPO speculative; future seems dull for paints companies: Mahantesh Sabarad
Mahantesh Sabarad says: "Asian Paints faces competition from Grasim and JSW Paints. The future does not seem to be very good for all the paint companies given all this competition that we are seeing because there is a limited market. It may be growing, but the growth available now for entrenched players will be limited."
Bhel shares jump 12% on thermal plant order buzz
Bhel, however, told stock exchanges after trading hours on Monday that the company "as of now" has not received this order from NTPC.
Realty stocks buzzing on Dalal Street as 8 turn multibaggers in FY24; what’s your top bet?
The unprecedented demand across key metropolitan cities and beyond is the primary trigger for the rally in shares.
Devyani International shares plunge 6% on block deal buzz
Devyani International Share Price: The price action was amid significant volumes as over 1.14 crore shares changed hands on the NSE in morning trade. The traded value of the shares stood at Rs 184.58 crore. The details of buyers and sellers were not known at the time of filing the story.
SBI jumps over 6% on YES Bank block deal buzz. Is PSU booking profit after recent surge?
SBI Share Price: State Bank of India shares were trading amid significant volumes with more than 4.42 crore shares changing hands on the NSE around 11:30 am. With 27% returns over 1 year, the stock has underperformed many of its PSU bank peers, including Indian Overseas Bank (175%), Canara Bank (91%), and Bank of Baroda (48%).
Beyond the buzz: Navigating the market trends for 2024
The first quarter posed challenges for Indian indices with the Hindenburg research report, the hawkish Fed, and the SVB crisis. The budget sparked hope, laying a foundation for sustainable domestic growth, albeit with the removal of indexation benefits on debt instruments.
Realty stocks add 30% gains in the first week of 2024; what’s buzzing?
The S&P BSE Real Estate index gained more than 8% in a week, and the gauge hit an over 15-year high of 6820.59 points. Godrej Properties, The Phoenix Mills, Prestige Estates Projects, and Sobha gained 11-30% so far this week. While, Mahindra Lifespace Developers, Oberoi Realty, and Macrotech Developers added 6-8% this week.
Wipro sees a breakout, outperforms on buzz of change in leadership
Shares of the Wipro ended 1.61% higher at ₹470.10 on the NSE. Benchmarks Nifty 50 and Sensex ended 0.3-0.4% higher, while the Nifty IT index ended 0.4% in the red. Analysts do not rule out the likelihood of the stock gaining another 10% from current levels. Market talk of Wipro looking to bring in a new chief has propped up the stock price of late, helping it break out of its consolidation phase, and gain nearly 9% in three sessions.
BHEL, Torrent Pharma among 5 stocks with top short covering
OI change on November 22: -1.05% Change in stock price: 0.61%
Tata Investment hits life high on Tata Tech, value unlocking buzz
While Tata Investment Corp, a listed holding company for several Tata group companies, does not directly own a stake in Tata Technologies, it owns a 0.33% stake in Tata Motors, which is Tata Technologies' parent entity.
46 smallcaps log double-digit weekly gains in subdued market
Vascon Engineers was the top gainer in the smallcap pack with nearly 24% returns, followed by Sasken Technologies (23.6%), Bhagiradha Chemicals (22.2%), and Authum Investment (22%)
Breakout Stocks: How MRPL, Mahanagar Gas and Narayana Hrudayalaya are looking on charts for Thursday’s trade
Sectorally, buying was seen in IT and FMCG stocks while metal, public sector, realty, and power stocks saw some selling pressure
China attempts to revive its economy; 6 metal stocks which can deliver up to 36 % returns
The connection between China and metal prices is well known. China is one of the biggest consumers of metals. Be it copper, aluminum or steel. As soon as there are indications that China is pushing for growth, metal prices move up. With a recent cut in prime lending rate, it has made its intent clear. Will it bring back good days for metal stocks?
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