IT SHARES
SpiceJet shares surge over 7% on reporting consolidated profit in Q4
SpiceJet shares surged 7% on Tuesday, reaching Rs 60, following the airline's Q4 profit announcement of Rs 127 crore. This marked a turnaround from losses of Rs 6.2 crore and Rs 299 crore in the March and December 2023 quarters, respectively. On a standalone basis, the low-cost carrier reported a sixfold surge in net profit to Rs 119 crore in the fourth quarter
Hot Stocks: Brokerage view on Bharti Hexacom, Vodafone Idea, Apollo Tyres, HDFC Life and Varun Beverages
JPMorgan has initiated coverage on Bharti Hexacom with an 'Overweight' rating and a target price of Rs 1,280. The brokerage believes the company is the best in the Indian market for repair pure-play, predicting a 20% CAGR driven by tariff repairs, with returns stronger than peers, boosted by ARPU and subscriber growth tailwinds.
These largecaps have ‘strong buy’ & ‘buy’ recos and upside potential of more than 23%
A simple question which probably has the most complex answer. Till date which set of stocks have delivered best returns in 2024. Last year the narrative was about mid and small caps having outperformed the large caps. In the first half of 2024, there is no such narrative and no clear answer. There is historical evidence that when this happens in the next six to nine months, it is large caps which tend to perform well. This happens due to high valuation differential in mid and large caps is bound to reduce as mean reversion takes place. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.
Big movers on D-Street: What should investors do with Aurobindo Pharma, Tanla Platforms and IDBI Bank?
Sensex and Nifty hit record highs, driven by PSU banks and foreign inflows. Aurobindo Pharma rose 20%, with an overbought RSI, trading 9.5% above the mean. Tanla Platforms nears its 50-week average, trading sideways. IDBI Bank shows strong demand at 76, with the highest quarterly trading volume, and momentum approaching breakout.
Piramal Enterprises, NMDC among 5 stocks with short covering
Short covering refers to the buying of shares in order to close an existing short position or a position that has been sold. It signals a shift in view on security from extreme bearishness to bullishness. In Monday's trading session, five stocks saw top short covering. Here's the list:
Jio Financial Services Q1 results today: Shares climb ahead of announcement
Jio Financial Q1 Results: Jio Financial Services shares rose 2% to Rs 355 on the BSE before Q1 FY25 results and RBI's CIC conversion approval. Q4 FY24 net profit was Rs 311 crore, revenue Rs 418 crore. FY24 net profit hit Rs 1,604 crore. Application to RBI in November 2023 after demerging from Reliance Industries Limited, RSI currently at 46.8 per Trendlyne data.
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3 stocks to trade ex-rights tomorrow. Last opportunity to buy shares
A rights issue occurs when a company asks its current shareholders to buy additional shares at a discount before a certain date. This gives shareholders the right, but not the obligation, to purchase new shares at a discount to the market price up to a specified future date.
Tyre stocks surge up to 13% amid reports of price rise
MRF, India's highest-priced stock, gained attention on Monday's BSE session due to reports of a price increase effective July 18. This led to a surge in tyre stocks: JK Tyre & Industries rose 13%, CEAT jumped 7%, Apollo Tyre gained 5%, and MRF shares increased 4% to Rs 1,34,281.
Aurobindo Pharma board to consider buyback of shares, stock jumps 5%
Aurobindo Pharma board meeting on July 18, 2024, to discuss share buyback. Stocks hit Rs 1,394, a record. First-ever buyback. Shares soared 86% in a year, 27.3% YTD.
Zomato shares jump 4% to fresh all-time high on platform fee hike
Zomato's shares surged 4% to a new high of Rs 232 on BSE after raising platform fees to Rs 6 per order in major markets like Bengaluru and Delhi. The firm, along with Swiggy, initially charged Rs 2 per order last year, later increasing it to Rs 5 in select markets. The recent price hike represents an increase of 20% from the Rs 5 the two platforms were previously charging in these markets.
Asian Paints, Tata Steel among 5 stocks with short buildup
A short buildup is when there is a rise in open interest and volumes along with a decrease in the price of the underlying stock in the Futures and Options segment. Short buildup means more people are expecting the prices to go down and creating short positions. In Monday's trading session, five stocks witnessed a build of fresh short positions. Here's the list:
OFSS, Vedanta among 5 stocks with long buildup
A long buildup occurs when there is an increase in open interest and trading volumes alongside a rise in the price of the underlying stock in the Futures and Options segment, indicating a bullish trend in the market. In Monday's trading session, five stocks experienced a buildup of fresh long positions. Here's the list:
Tanla Platforms shares soar over 13% after inking deal with WhatsApp
Tanla Platforms' shares surged 13% to Rs 1,080 after partnering with Meta-owned WhatsApp to deploy Wisely ATP against fraud, in line with the telecom regulator's AI mandate.
Avenue Supermarts shares jump 4%. Should you buy, sell, or hold after Q1 results?
Avenue Supermarts' shares surged 4% to Rs 5,166 on BSE as Q1 revenue rose 19% YoY, driven by 14% area expansion and 4% productivity growth. Analysts highlight narrowing gaps in revenue per sq ft (up 4.2% YoY) and per store (up 4.7% YoY), signaling higher share from larger stores.
Big movers on D-Street: What should investors do with RailTel, Axis Bank and HCL Tech?
Sensex and Nifty reached new highs, led by IT and tech stocks. RailTel surged 14.29%, Axis Bank 1.6%, HCL Tech 3.3%. Pravesh Gour from Swastika Investmart suggests RailTel targeting 700+ post-triangle breakout, Axis Bank 1400, HCL Tech has inversed head and shoulder, eyes 1600 resistance. RSI and MACD indicators noted.
Australian shares hit record high as banks and miners gain
Australian stocks hit record highs, driven by banks, miners, and healthcare. S&P/ASX 200 rose 0.9%. BHP, Rio Tinto, Woodside Energy, CSL, and Ramsay Health Care performed well. New Zealand’s S&P/NZX 50 fell 0.1%, awaiting inflation data. Technology stocks like Xero gained. The Reserve Bank of New Zealand held the cash rate but may ease policy.
Stock Radar: HOEC breaks out from inverse Head & Shoulder pattern; likely to hit fresh 52-week high
HOEC broke out from an inverse head and shoulders pattern after nearly four months of consolidation on daily charts. Experts foresee potential for the stock to reach around Rs 270 in the next 1-2 months. The stock hit a 52-week high of Rs 258 on August 11, 2023, but failed to maintain momentum, undergoing a correction for nearly 6 months.
Railway stocks hit record highs ahead of Budget; How to trade IRCON, IRCTC and RailTel on Monday
Indian market broke out of the range to hit fresh record highs on Friday. The S&P BSE Sensex rallied more than 600 points while Nifty50 closed with gains of 186 points. The S&P BSE Sensex hit a record high of 80,893 while the Nifty50 hit a lifetime high of 24,592 in intraday trade on Friday.
Tata Power, Dixon Technologies among 5 stocks with short buildup
A short buildup is when there is a rise in open interest and volumes along with a decrease in the price of the underlying stock in the Futures and Options segment. Short buildup means more people are expecting the prices to go down and creating short positions. In Friday's trading session, five stocks witnessed a build of fresh short positions. Here's the list:
7 rail stocks delivered up to 28% returns last week. Do you own any?
The week ending July 12 saw a significant rally in railway stocks ahead of the Union Budget scheduled for July 23. The surge in railway stocks last week followed news reports suggesting that the government may increase allocation for this sector in the upcoming budget. According to Ace Equity data, seven railway stocks delivered returns of up to 28% in the last week. Here's the list:The week ending July 12 saw a significant rally in railway stocks ahead of the Union Budget scheduled for July 23. The surge in railway stocks last week followed news reports suggesting that the government may increase allocation for this sector in the upcoming budget. According to Ace Equity data, seven railway stocks delivered returns of up to 28% in the last week. Here's the list:
Cyient shares jump 7% after announcing subsidiary for semiconductor business
Semiconductors, crucial for defence, automotive, and telecommunications sectors, have emerged as significant factors in the geopolitical arena. Countries like the US, Japan, and China are heavily investing in building domestic capabilities in this critical technology.
Hot Stocks: Brokerage take on TCS, Zomato, Federal Bank, ABB, Vedant Fashions and Prestige Estates
Jefferies upgraded TCS post Q1 earnings, increasing its target. UBS reviewed Zomato, Federal Bank, and ABB India. Morgan Stanley reaffirmed 'Buy' for Prestige Estates, while Axis Capital downgraded Vedant Fashions.
Tesla shares fall 6.4% on reported delay of robotaxi event
Shares of Tesla tumbled Thursday following a report that Elon Musk's electric auto giant will delay a much-anticipated "robotaxi" event. Before Thursday, Tesla shares had risen 11 straight days in a move partly attributed to the robotaxi event, which Musk has described as a platform for the company's ambitious autonomous driving technology.
M&M shares tumble over 6%. Here's the trigger
M&M shares fell 6% due to XUV700 price cuts. Countering peer discounts and weak sales, cuts could lower earnings but increase volumes. AX7, AX7L trims are 50-60% of 6,000-8,000/month volume. Axis Capital sets a target price at Rs 3,150. Domestic brokerage firm estimates 2-3% impact on overall EBITDA. Cuts affect EBITDA by Rs 300-350 mn/month for four months.
Bansal Wire shares list at 39% premium over IPO price
Bansal Wire listed at Rs 356 on NSE with a 39% premium. Pre-listing unlisted premium was Rs 63. IPO funds will repay debt.
Emcure Pharma shares debut with 31% premium over issue price
Before listing, the company's shares traded at a Rs 360 premium in the grey market. It raised Rs 582 crore from anchor investors, including HDFC MF, ICICI Pru MF, SBI MF, Abu Dhabi Investment Authority, Goldman Sachs Asset Management, Nomura, and HDFC Life. Analysts are bullish on the IPO for listing gains and long-term growth, citing its strong position in domestic therapeutics and expansion plans in India and exports.
Jupiter Wagons shares fall 4% on QIP launch, sets floor price at Rs 689.47 per share
Jupiter Wagons' shares dropped 4% following approval for a qualified institutional placement at Rs 689.47 per share. The company reported a significant increase in profits and revenue for the latest quarter.
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