MUMBAI STOCK MARKET
NDA government gives stability & investors know it: PM Modi
PM Modi linked market rise to NDA's stability, announced Rs 29,000 crore infrastructure projects at NESCO, Goregaon. He cited 80 million jobs created despite Covid per RBI, criticized opposition for false employment narratives and youth betrayal, and celebrated NDA's third term. Modi's remarks aimed at opposition criticism highlighted NDA's achievements in job creation.
Aditya Birla Capital’s legal head Amber Gupta joins stock-exchange NSE as head of legal
NSE India has appointed Amber Gupta as senior vice president and head of legal. Gupta, a University of Lucknow alumnus, previously worked with several firms. He is known for being pragmatic, detail-oriented, and a good team player. In April, Yukti Sharma joined Kinara Capital as vice president, while Angel One Ltd appointed Meenal Maheshwari Shah as general counsel in February.
Anant-Radhika Wedding: Mumbai's Bandra Kurla Complex goes remote till July 15 amid Ambani wedding preparations
Mumbai's Bandra Kurla Complex experiences traffic disruptions as offices transition to remote work ahead of Anant Ambani and Radhika Merchant's opulent wedding from July 12-14. The wedding at Jio World Convention Centre, led by Mukesh Ambani's son Anant, has prompted full bookings at luxury hotels like Trident and Oberoi, where rates have soared to ₹1 lakh per night. Celebrities and global leaders are expected, amid public scrutiny over the event's classification and social media backlash.
These midcap stocks with ‘strong buy’ & ‘buy’ recos can rally over 24%, according to analysts
For every one bull there is a half bear and that is probably enough to spoil the mood on the street. The “risk on trade” which was once again getting started probably will get hit for some time at least because of the fact that the circular by NSE on what stocks and mutual funds will be accepted as collateral or not will have short term impact on the liquidity matrix of the system. Keep an eye on liquidity and the market breadth in the next few weeks as that will determine what happens to mid-cap stocks in the medium term. 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". This predefined screener is only available to ET Prime users.
Bengaluru office stock set to touch 330-340 mn. sq. ft. by 2030, highest in India
Bengaluru, leading India's office space to 330-340 million sq. ft. by 2030, shows a 41% GCC leasing share. Main areas include ORR, Whitefield, and North Bengaluru, with 15-16 mn sq. ft. annual absorption and competitive rents. The city’s ease of doing business and sector diversification like retail and aerospace boost its growth.
Residential prices surge by 49% in five years in Delhi and Mumbai
Record sales in Delhi and Mumbai cut inventory, raising prices 49% from H1 2019 to H1 2024. NCR, MMR saw price hikes per sq. ft. Anuj Puri noted a 52% stock drop in NCR, with pandemic-driven demand, rising costs, and luxury housing spurring growth. Aakash Ohri and Vivek Singhal highlighted reduced inventory overhang.
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CJI Chandrachud advises SEBI, SAT to be cautious, pitches for more tribunal benches
Calling the crossing of the 80,000 points milestone by the BSE as an ecstatic moment, where India is entering a "stratospheric domain", Chandrachud said such events emphasise the importance of regulatory authorities.
These midcap stocks with ‘strong buy’ & ‘buy’ recos can rally over 23%, according to analysts
The “risk on trade” which took a pause for a while is back on the street. Will the budget and change in the direction of the global interest rate cycle add further fuel to the rally is a big question. Keep an eye on liquidity and the market breadth in the next few weeks as that will determine what happens to mid-cap stocks in the medium term. 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". This predefined screener is only available to ET Prime users.
Small towns join Dalal Street party, bull run reaches Sundarbans
Small and semi-urban regions in India are increasingly influencing the country's growth trajectory through heightened interest and participation in equity markets. North 24 Parganas in Bengal, known for the Sundarbans but lesser-known otherwise, has emerged as one of the leading contributors to new stock market investors since September 2023. In May, Delhi and Mumbai led in new investor registrations, with Surat, Ahmedabad, and Jaipur also experiencing significant increases in fresh registrations.
Modi’s Budget to send India’s soaring stocks higher: Survey
More than half of the 24 respondents estimated that the Nifty 50 Index may advance up to 26,000 points by the end of 2024, while one predicted the gauge can climb even more.
Getting ready to end the 3-year exile: 5 stocks from diagnostics sector with upside potential of up to 53%
There are some businesses, where only a black swan event leads to sharp growth in profit. Otherwise the underlying nature is such that they don't have any sudden spike in their profits. But there is constant growth. The constant growth could be because of many reasons. It may be because of the fact that penetration of that good or service is very low and over a period of time as it improves, both top and bottom line keep moving upward. It could be because of the movement of business from the unorganized sector to the organized sector. Or due the fact that the “need” of that good or service is such that spending on it cannot be postponed. In the case of diagnostic business, it is all the three, or rather four. The fact is that in 2020, a black swan took place which led to the sudden spike in FY 2021 numbers, but then back to normal growth curve. Now for three years, there has been a painful process of partial normalization of valuation and end of price wars. Has the time come for extreme long term investors to bring them back on watchlist ?
Allied Blenders shares list at 13.8% premium over offer price
Allied Blenders and Distillers, after a successful IPO, intends to use ₹720 crore from the fresh issue to repay outstanding borrowings and for general corporate purposes. The company's strategic financial decisions align with its growth objectives and market positioning.
Wild swings in Vashu Bhagnani stock raise eyebrows
Stock turmoil and financial rumours haunt Vashu Bhagnani Industries, as share prices plummet amid speculation of delayed salary payments and property sell-off.
FMCG is “passe”: Indian economy has a new definition of defensive stocks: 8 stocks from 2 sectors with upside scope of up to 37%
On the day of election results were announced and the whole stock market melted, stocks from one sector were able to gain, that was FMCG. Many theories were floated about why they are doing well. Right from them being defensive stocks to that focus would not shift from investment to consumption. But close to a month down the line, all those stocks are once again in the under performance mode. The fact is before deciding on whether the stocks are defensive or not, some questions need to be asked. A stock which was a defensive stock in 1994 when the Indian economy was just opening is still a defensive stock even in 2024 when we are a whole different economy with different needs and consumption patterns.
Sebi approves stricter norms for inclusion of individual stocks for derivative trading
The criteria for exit would apply to only those stocks which have completed at least six months from the month of entry into the derivative segment. while for existing stocks in the derivatives segment, the exit criteria on the basis of performance would be applicable three months after the date of issuance of circular, Sebi said.
Real estate growth strongest in greater Mumbai region, says Mahantesh Sabarad
The Mumbai real estate sector, particularly in the greater MMR region like Thane, has thrived in the past two years, outpacing traditional growth markets. Companies like Raymond, Oberoi Realty, and Godrej, with investments in this area, are poised for strong performance amidst upcoming metro projects.
Sebi weighs tighter checks for stocks at F&O entry gate
In its June 8 consultation paper, Sebi had sought feedback from market participants for its plan to revise the eligibility criteria for stocks to be a part of the futures and options (F&O) segment. The regulator wants stocks that are part of the derivatives market to be more liquid and traded by a wide set of market participants to prevent manipulation and lower risks to the system.
For volatile market conditions: 5 largecap stocks from different sectors with upside potential of up to 29%
Once again on Wednesday, there was a lesson for all who think that bull markets don't see volatility. All of sudden there was a sharp dip in Nifty and other broader market indices, except bank nifty which was trading in green thanks to the fact its largest constituent HDFC bank was trading in green. When valuations are high, volatility never gives notice before coming so one should always be prepared for it. Another point to be watched, if the frequency of the volatile phase increases and if it starts to happen every other fortnight, it might be an indication of profit booking. There is a possibility that as markets inch higher on index levels, there is some sort of rotational profit booking happening. So, it would be better to stay prepared for volatility. Another reason for staying with large caps is that valuations are high in large part of the mid and small caps and they are the ones which might lose more weight if there is any correction due to global reasons.
Record block deals! Dalal Street scores Rs 23,000 crore screamer, from a Voda assist
Indian stock markets hit a milestone with record block deals worth ₹23,000 crore, driven by Vodafone Group's stake sale in Indus Towers.
TMC MPs meet SEBI officials, seek probe into stock market 'manipulation'
Congress MP Rahul Gandhi had alleged that Prime Minister Narendra Modi and Union Home Minister Amit Shah were "directly involved" in what he described as the "biggest stock market scam" with retail investors losing Rs 30 lakh crore due to the market crashing after the Lok Sabha poll result earlier this month.
Vodafone looks to sell entire $2.3 bn stake in Indus Towers
Vodafone Group plans to divest its entire $2.3 billion stake in Indus Towers through stock market block deals next week to reduce debt. The British telecom giant currently owns 21.5% of Indus, with the final stake size dependent on market demand. Bank of America, Morgan Stanley, and BNP Paribas are managing the sale
Stocks to buy after Lok Sabha Elections Results 2024: 5 stocks with up to 23.2% upside potential
While the 4 June crash eroded investor wealth, it may have eased stretched valuations. Experts believe the BJP-NDA government’s economic agenda will largely remain unchanged, though some priorities will be adjusted. Even before the election-induced jolts, the markets had been witnessing volatility. To counter the near-term shocks, invest in companies that have shown stability in the past.
Phalodi satta market: How it works and how it became a barometer for election results
The small town of Phalodi in Rajasthan has gained national attention for its underground satta market, particularly for predicting election results. With a history rooted in betting on rains and cricket, Phalodi has now become a barometer for poll results in India. The market operates through bookies who analyze voter mood and election trends to set rates for various bets. The fabled accuracy of the Phalodi satta market is attributed to a network of informants across the country.
Mumbai, Delhi-NCR, Bengaluru lead Small & Medium REIT investment prospects
India's fractional ownership property market is projected to grow over 10 times, exceeding $5 billion by 2030, driven by office assets suitable for Small and Medium REIT (SM REIT) investments. Mumbai and Delhi-NCR are top hotspots, with significant opportunities in tech markets. SM REITs offer investors professionally managed, rent-yielding assets.
Voda Idea shares jump over 11% on UBS upgrade
Analysts and investors have been bullish on Vodafone since its ₹18,000-crore follow-on public offer (FPO), India's biggest, in April. The issue was subscribed 7 times, with strong demand from global institutional investors.
Go Digit Insurance lists at 5.15% premium over issue price
Shares touched a high of ₹314 during the day, before closing at ₹305.65. The company's market capitalization on Tuesday was ₹28,034.29 crore at close. The ₹2,614-crore IPO been subscribed over 9 times on its final day of bidding.
Is the stock market closed for Mumbai elections, today?
Stock Market Holiday:Equity markets will be closed for Mumbai elections. Special trading session on March 2, 2024. Nifty 50 and BSE Sensex performance. Top gainers and losers. The Multi-Commodity Exchange (MCX) will remain closed for the morning session but will be open for the evening session. Apart from Mumbai Elections (May 20), in 2024, the markets will be shut for Bakri Id (June 17), Muharram (July 17), Independence Day (August 15), Mahatma Gandhi (October 2), Diwali (November 1), Gurunanak Jayanti (November 15) and Christmas (December 25).
IPL Portfolio: Smallcase manager Nitya Shah expects 2 themes to perform like Mayank Yadav
IPL Portfolio: Nitya Shah recommends water treatment and semiconductors for earnings growth triggers. He suggests a high equity allocation for long-term investment, considering emerging trends and reasonable valuations. Also, discusses the importance of investing based on individual risk profiles and financial goals.
Eid 2024: Eid celebrations illuminate Delhi and Mumbai, marking the end of Ramzan
Delhi's Hazrat Nizamuddin Dargah and Nizamuddin Market, along with Mumbai's Mohammed Ali Road, were vibrant with Muslims celebrating Eid-ul-Fitr, marking the end of Ramzan. The iconic Jama Masjid in Delhi also saw a large gathering for prayers. Amidst festive shopping for sweets and clothes, security measures were heightened in Delhi. The sighting of the crescent moon determined the festival's date, with different regions celebrating on different days.
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