Skip to main content

Sensex, Nifty maintain uptrend; Tata Motors, Tata Power up

01:20pm Interview: While the growth in the mid-term looks healthier than in the near-term, Vineet Nayyar, executive vice chairman, TechMahindra says he is cautiously optimistic on FY16 growth.

Speaking, Nayyar says the global demand scenario has seen a turmoil but US market will continue to drive growth.

On any further acquisitions, Nayyar says the company's focus right now will be on making all prior acquired companies grow at healthy rates.

01:00pm Market Check

The market remained firm in afternoon trade aided by consistent upmove in oil, pharma, select banks and auto stocks. The Sensex rallied 127.58 points to 28103.44 and the Nifty jumped 36.85 points to 8529.15.

The broader markets extended gains with the BSE Midcap and Smallcap indices rising 0.7 percent and 1.3 percent, respectively. About 1596 shares haveadvanced, 879 shares declined, and 161 shares are unchanged on the Bombay Stock Exchange.

According to Deven Choksey, KR Choksey Shares & Securities, the Nifty will consolidate in 8200-8700 range and if it breaches those levels then 9000-9200 on the upside is likely.

Reliance Industries gained further, up 2.5 percent as brokerage Morgan Stanley upgraded the stock to overweight from underweight and raised target price to Rs 1,062. Tata Motors too rallied 2.5 percent followed by Sun Pharma,HUL, Axis Bank, Maruti, Dr Reddy's Labs, GAIL, Coal India and Sesa Sterlite with 1-2 percent upside.

Tata Power and Adani Power gained 1.5-3.5 percent as Supreme Court ruled that companies can use argument of change in international law to charge highertariff.

Oil marketing companies stocks like IOC, HPCL and BPCL surged nearly 5 percent as IOC chairman, B Ashok that they will report healthy profit in Q4. Inventory losses have been made up and currently they enjoy healthy margins on petrol cracks.

However, Infosys, ITC, TCS, HDFC Bank, NTPC, Bajaj Auto and BHEL declined 0.5-1 percent. More information Please visit this site www.shristocktips.com

Comments

Popular posts from this blog

Dark secrets of share market

Dark secrets of share market
Stock market has some dark secrets that no broker tells. And what is more surprising is that these secrets belong to the steps taken to make money.
Let’s see how positive things turn negative
1# Commodity price risk
When price of commodity escalates, it brings joy to the companies that see commodities as output. But for companies that see commodities as inputs see loss in increased. Companies that don’t deal in commodities also face difficulties with price escalation. It is so because the customers start selling commodities. And it won’t be an exaggeration to say that commodity pricing effects the entire economy.
2# Headline risk
Do you remember the news of Fukushima nuclear crisis? This news surfaced in 2011 and it drowned all the stocks related to businesses related to nuclear power like uranium miners. It is called headline risk and no business is free from this risk. A torrent ofnews-reports regarding a business can have an adverse effect on its commodity p…

Nifty could slip towards 9,900; 3 stocks which could give up to 11% return

A close beyond 10,400 levels with healthy volumes can pause the current bearishness triggering a short covering to levels of 10,640-10,730.

The Nifty index Futures continued to slide lower for the second month in a row making it 10 percent decline from the record highs. Further, it has broken down from a broadening wedge pattern along with a close below the 200-DMA, affirming weakness dominant in the markets at the moment.

A sustained trade below 10,050 can accelerate the fall to levels of 9,930-9,700. However, a close beyond 10,400 levels with healthy volumes can pause the current bearishness triggering a short covering to levels of 10,640-10,730.

Moreover, the relative strength index or the RSI has turned down from the neutral levels of 50 on two occasions in recent pullbacks suggesting further weakness in the coming trading sessions.

Here is the list of stocks which can give up to 11 percent return:

Arvind Ltd: SELL| Target Rs345| Stop Loss Rs410| Return 11%

On the weekly chart, Arv…

Reliance Infra arm moves Delhi HC over arbitration award against DMRC; stock up 5%

Subsidiary Delhi Airport Metro Express has moved the Delhi High Court seeking execution of the Arbitration award it had won against Delhi Metro Rail Corporation.
Reliance Infrastructure share price rallied 5 percent intraday Tuesday after the company's subsidiary DAMEPL has moved the Delhi High Court over the execution of Arbitration award against DMRC.

"...subsidiary Delhi Airport Metro Express Pvt. Ltd. (DAMEPL) has moved the Delhi High Court seeking execution of the Arbitration award it had won against Delhi Metro Rail Corporation (DMRC)," the company said in its filing.

The arbitral award was recently upheld by a single judge bench of the Delhi High Court.

In its petition filed under section 36 of the Arbitration and Conciliation Act in the division bench headed by Chief Justice of Delhi HC, DAMEPL has sought an order for the execution of the award dated May 11, 2017 passed by the Arbitral Tribunal and direct DMRC to pay a around Rs 5,200 crore, the company said.

Thi…