Mumbai: Mahanagar Gas (MGL) led the selloff in shares of city gas distribution companies Wednesday after Citi Research downgraded rating on the stock to ‘sell’ citing government pressure to reduce gas prices. Analysts are mixed on the prospects of these shares with some judging that the decline on Wednesday has resulted in valuations turning attractive. … Read more
Tata Steel shares, which hit a fresh peak of Rs 156 on BSE, have shown a powerful breakouhavet on the daily chart, accompanied by a notable surge in volumes. “Additionally, the formation of a Morning Star pattern, a bullish reversal candle pattern, indicates strong support for the stock. The momentum indicator, RSI, has also provided … Read more
Vedanta to underperform, and Jefferies maintained a buy rating on MAX Financial. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Macquarie on Zomato: Underperform| Target: Rs 96 Macquarie maintained an underperform rating on Zomato but raised the target price to Rs 96 from Rs 76 earlier. The … Read more
Distressed debt aggregator Acre Asset Reconstruction Company (ARC) has put Nagarjuna Fertilizers and Chemicals on the block less than a year after taking over the ₹3,858 crore debt of the company. Acre is seeking ₹1,600 crore from bidders – double the ₹811 crore it paid to a seven-bank consortium in March last year, documents accessed … Read more
Indian market is expected to trade higher on Friday tracking positive global cues. The Nifty future closed positive with gains of 0.45% at 22015 levels on Thursday. India VIX was down by 1.36% from 15.44 to 15.23 levels. Volatility has been cooling down from the last three sessions and giving comfort to the bulls at … Read more
Shares of PSU NBCC were in the focus this week as it ended Friday’s session 19% higher at Rs 169.20, taking the week’s total gain to over 47% on the back of Budget’s thrust on housing. “The sentiment and trend appear extremely bullish for the stock. On the higher end, it might move towards Rs … Read more
Brokerage firm Citigroup maintained a neutral rating on RIL, Jefferies retained a buy rating on Marico, Macquarie has a neutral rating on Bajaj Finance while Investec recommended a buy on Gail India and ITC post Q3 results. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Citigroup on … Read more
Most technical indicators suggest a correction in the near term. If Nifty falls below 21,250, it is likely to move towards the 21,000-20,900 range. However, if the index surpasses and maintains levels above 21,500, analysts anticipate index to move to 21,600-21,700 range. SBI, NMDC, SAIL, RIL, Infosys, GAIL, Siemens, Tata Power, Coforge, MGL, Star Cement, … Read more
The upward trend of Nifty is expected to persist in the near term, but the index may encounter resistance around 21,800-21,850 levels. Technical analysts suggest that a definitive move above 21,850-21,900 is necessary to unlock the next upside target of 22,200. Analysts recommend stocks like Axis Bank, Canara Bank, Divi’s Labs, Cipla, Coforge, Infosys, ITC, … Read more
Hero MotoCorp. Share Price 4058.00 10:37 AM | 26 Dec 2023 122.31(3.10%) Adani Enterprises. Share Price 2873.75 10:37 AM | 26 Dec 2023 65.41(2.32%) Coal India. Share Price 370.80 10:37 AM | 26 Dec 2023 7.56(2.07%) Divi’s Laboratories. Share Price 3766.95 10:37 AM | 26 Dec 2023 72.00(1.94%) Mahindra & Mahindra. Share Price 1664.70 10:37 … Read more