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Petroleum Minister Hardeep Puri hails ONGC after share price skyrockets to all-time high
Oil and Natural Gas Corporation (ONGC) made history as its share price surged past Rs 323 with a 5.18 per cent intraday gain, boosting its market capitalisation to Rs 4.06 lakh crore. This remarkable performance underscores ONGC's financial strength and strategic direction, echoing a broader trend of positive gains in the oil and gas sector. The Indian government, under Prime Minister Narendra Modi's leadership, has implemented reforms to bolster the sector, driving growth and profitability for companies like ONGC.
Pharma industry seeks relief from price cap rule for cheap drugs
India’s FoPE seeks a 10-year exemption for patented and low-cost drugs from price controls. Requests include DPCO and 12% GST adjustments due to 15-130% ingredient cost rises. Presenting to the DoP secretary, FoPE cites working capital issues prompting overseas research. Supported by IPA, Harish Jain stressed necessary revisions.
Best flexi cap mutual funds to invest in July 2024
Flexi cap mutual funds offer the fund managers the freedom to invest across market capitalisations and sectors/themes. It means the fund managers can invest anywhere based on his outlook on the market. Flexi cap schemes are typically recommended to moderate investors to create wealth over a long period of time. Ideally, one should invest in these schemes with an investment horizon of five to seven years.
TRADERS’ CORNER: A watch reseller for 10% break outmove, while a QSR makes a comeback attempt for 5%
Some old horses are coming back into action.
TRADERS’ CORNER: A capital good major and bank stock, both about to break boundaries for 5 to 6% short-term trading opportunity
Large caps are getting their momentum back for swing trading.
Traders’ Corner: A specialty chemical major and insurance stock are getting ready for 7-8% short-term trading upmove
The crossing above Rs. 6000 levels resulted in initiating a smart upmove for LINDEINDIA; the stock tested the high of Rs. 9935 in May. After this, the stock took a breather and consolidated in a measured range over the past week.
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Dolly Khanna raises stake in smallcap multibagger Selan Exploration Technology
Ace Investor Dolly Khanna has raised her stake in smallcap counter Selan Exploration Technology in the quarter ended June 30, 2024 by 53 bps over the March quarter to 1.56%. Her holding in this oil & gas exploration and production company stood at 1.03%.
TRADERS’ CORNER: A play on wind energy for 11% short term trade & consumer durable maker eyeing 5% upswing
More mid-caps join the party as momentum favour bulls.
Does NSE's price capping on SME IPOs mean no multibagger returns on Day 1?
As SME IPOs gain traction among investors, regulators are moving to formalise the market with stricter controls. The NSE recently imposed a cap on SME issue listing prices at 90%, independent of grey market trends. This impacted Nephro Care, which despite a 300% pre-listing GMP, debuted at only a 90% premium due to the exchange's price cap.
NSE caps listing gains in SME IPOs; ‘move to curb price swings’
NSE imposes a 90% cap on SME IPOs to stabilize prices; Winsol Engineering surged by 411%. Amit Goel noted reduced volatility. Sebi chair Madhabi Puri Buch raised SME manipulation concerns. Sebi took action against Varanium Cloud, SecureKloud Technologies, Add-Shop E-Retail, suspecting schemes like bonus issues, stock splits, and preferential allotments.
Rs 1 lakh crore m-cap, 52-week high, 20% rally: All in a day for multibagger Mazagon Dock
Minutes before the market closing time the stock was trading with a market capitalisation of Rs 1.13 lakh crore. It traded amid high volumes with over 2 crore shares changing hands on the NSE.
Traders’ Corner: An agro commodity stock for possible 7% long trade; multiproduct bet for 6% swing trade
More sectors are joining the bullish movement of broader markets
NSE imposes price control cap of 90% on SME IPOs amid froth concerns
"To standardize the opening price discovery/ equilibrium price across exchanges during special pre-open session for initial public offer (IPO) for the SME platform, it has been decided to put an overall capping up to 90% over the Issue price for SME IPOs," NSE said in a circular.
TRADERS’ CORNER: A luggage stock ready for 7% upmove & a rating agency for positional 6% trade
Mid cap and small cap stocks getting back momentum .
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.
TRADERS’ CORNER: Auto ancillary focussed on EV trying to jump 5% and mid cap software stocks for 7% rise
The markets had a trending start to the fresh week; after a muted start, the Nifty went on to close near its high point of the day. Following a flat start, the Nifty 50 index formed the low point of the day in the early minutes of the session. After that, the Index kept inching higher throughout the session. Although the markets did come off slightly from their high point, they were able to protect the bulk of their gains. The headline index closed with a net gain of 131.35 points (0.55%)
Trader's Corner: Midcap scripts 8% rise as IT services stock aims at 7% gain
Momentum moving to many other sectors and stocks
TRADERS’ CORNER: An IT major making a comeback attempt with possible 5 % and new age stock for 6 % upswing
Select stocks are clearly showing that they are making a comeback attempt.
TRADERS’ CORNER: A stock from solar ecosystem for 9% upswing and tech platform company for 6% positional trade
Old sectors witnessing new momentum in select stocks.
Better to own a set of stocks from the digital ecosystem rather than betting on one stock? 15 stocks with upside potential of upto 48%
Few day’s back there was an issue with the telecom provider and the services stopped for some time. Now which would be the companies which got impacted the most, the telecom service provider, the answer is no. As a customer one would not get any reduction in the monthly billing because services were down for some time. The companies which may have got impacted would be a platform company on which one orders food, such as a swiggy or zomato. The reason, in the peak time of demand, a customer is not able to order food online due to internet service being down, that demand will not come back when the internet is back. But the other platform company which sells insurance was also not impacted. The reason is, if one was planning to buy an insurance policy and there is no internet, the demand will get postponed not get extinguished. The digital ecosystem is making things simple but it is yet complicated when it comes to investing.
TRADERS’ CORNER: Two AA, one AMC stock and auto ancillary stock breaking barriers for 6% short term momentum trade
Select momentum stocks are getting back with mojo
ICICI Bank tops UBS to become 18th most valuable lender globally
HDFC Bank's recent market surge has propelled it to become the 18th most valuable bank globally, surpassing UBS. This intraday surge boosted HDFC Bank's market capitalization to over $162 billion, making it the second most valuable lender in India after ICICI Bank.
Vedanta Group biggest wealth creator in FY25 so far; adds over Rs 2.2 lakh cr in market cap
Vedanta Group comprising, Vedanta Ltd and Hindustan Zinc Ltd, have generated the maximum wealth for investors on the Dalal Street in the current fiscal so far, with the combined market valuation of both firms surging by Rs 2.2 lakh crore.
10 mid & smallcap stocks with high analyst ratings that can deliver up to 35% returns
Several brokerages are bullish on a variety of stocks across different sectors, including banking, finance, and information technology. According to Trendlyne data, 10 Nifty Mid Small Cap 400 stocks, such as IDFC First Bank, Tata Technologies, Angel One, and Piramal Pharma, have received high analyst ratings and could potentially deliver up to 35% returns. Here's the list:
Cryptocurrency Prices on June 6: Bitcoin holds near $71K, Altcoins trade flat
On Thursday, major cryptocurrencies remained relatively steady, with speculation mounting that the U.S. Federal Reserve may implement interest rate cuts in September. At 12:14 PM, Bitcoin (BTC) experienced a slight decrease of 0.25%, trading at $70,898, while Ethereum saw a modest increase of 0.7%, reaching $3,843.
Cryptocurrency prices on June 5: Bitcoin rises 3% to above $71,000 on Fed rate cut expectation
Bitcoin price surged by 3% to $71,000 in the last 24 hours, driven by expectations of a Federal Reserve rate cut in September following soft U.S. job openings data. Ethereum reached $3,807 and altcoins like BNB and Solana also saw significant increases.
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