Stock market HIGHLIGHTS: Benchmark equity indices, BSE Sensex and NSE Nifty50, surged sharply higher on Friday despite a sombre start to the first day of the trade on the new financial year. The Sensex ended over 700 points higher, while the Nifty50 settled near the 17,700 mark. Catch all the highlights with CNBC-TV18's market blog
Market Watch: Prakash Diwan Market Expert on auto stocks
“Continue to be positive on that but whether it would buy Ashok Leyland or Tata Motors, not yet because the delta is going to be much more promising on the passenger side and from that perspective Maruti is ripe for a turnaround anytime and within 6 months you are going to a see a significant change in the trajectory for the business.”
Market Watch: Anshul Saigal, Head & Executive VP of Kotak PMS on power stocks
If at all these are bets, which are more opportunistic in nature, I wouldn't buy them as secular bets for the long-term. Clearly these pockets were very reasonably priced till recently and to that extent that valuation discount is getting corrected. But if you asked me that, should I buy this space for the next three, five years because that is a secular growth story. I wouldn’t be in that camp. I would much rather buying to growth. I do believe that there are pockets in the country where growth is still not priced in, even though in the broader markets one believes that valuations are expensive, but still there are pockets where the growth that we are going to see over the next three-five years is definitely not priced in and hence I would be in that space much more than power because I don't see this as a secular uptrend kind of story.
Market Watch: Dipan Mehta Director, Elixir Equities on Reliance Industries
“What we are seeing in Reliance Industries is pre-result buying taking place and may be trading positions are being built-up in the expectation of very good set of numbers which may come through. I think Reliance will fire on all cylinders this time around. In a way the stock has been in a sideways movement for several months and maybe this current result may take a breakout on the upside. So it is a great short term trading opportunity.”
Closing Bell: Sensex jumps 700 points, Nifty near 17,700 on 1st day of FY23
Indian shares ended sharply higher on the first day of the new financial year with the broader Nifty50 settling near the 17,700 mark, while the benchmark BSE Sensex jumping over 700 points. At close, the Sensex was up 708 points or 1.2 percent at 59,276, and the Nifty was up 205 points or 1.18 percent at 17,670. All sectors ended positive, settling in the green. NTPC, BPCL, Power Grid, IndusInd Bank and SBI lead among Nifty gainers, while Hero Moto, SBI Life, Sun Pharma, TechM and Titan were top Nifty losers. Midcap and smallcap indices also added over a percent each, rallying in tandem with the benchmarks.
JUST IN | March GST collections come in at Rs 1.42 lakh crore.
FY22 fiscal deficit likely to be close to revised target of 6.9%
The FY22 fiscal deficit is likely to come in at around the revised figure of 6.9 percent, according to people in the know. The government in the third Supplementary Demands for Grants has a good additional net cash outgo of Rs 1 lakh crore odd. This has probably been balanced out or offset by a similar amount of savings by other departments and ministries.
Market Watch: Prakash Gaba, prakashgaba.com
Hindustan Unilever is a buy with a stop loss of Rs 2,050 and target of Rs 2,100
Power Grid is a buy with a stop loss of Rs 217 and target of Rs 240
Market Watch: Hemen Kapadia of KRChoksey Securities
Buy BPCL with a stop loss at Rs 358 for a target of Rs 394.
Buy MGL with a stop loss at Rs 779 for a target of Rs 833.
Buy Havells India with a stop loss at Rs 1,150 for a target of Rs 1,196.
Just 5 Sensex stocks in the red; NTPC leads gainers
Tata Motors sells 2,43,459 vehicles in Q4FY22
Tata Motors Limited today announced its sales in the domestic & international market, for Q4 FY22, which stood at 2,43,459 vehicles, compared to 1,91,373 units during Q4 FY21.
Ashok Leyland shares gain as sales better-than-expected in March
Shares of Ashok Leyland rose as much as 2 percent on Friday after the automobile company reported its sales numbers for March. At 14.09 pm, shares of the company were trading 1.3 percent higher at Rs 118.75 on BSE. The company said total domestic sales in March 2022 came in at 20,123 units as compared to the CNBC-TV18 poll estimate of 17,500 units. In March 2021, total sales for Ashok Leyland came in at 17,231 units.
Midcap Index crosses 30,000 for the first time since February 11, 2022
Crypto transaction profits to be taxed from today; all you need to know
Beginning April 1, all forms of virtual digital assets (VDA) or crypto assets that are sold at a profit will attract a tax of 30 percent. The announcement was made by Finance Minister Nirmala Sitharaman in her Union Budget speech this year. While this high crypto tax rate has made stock trading (which attracts a maximum tax rate of 15 percent) a more lucrative option, it has also left investors with several questions.
Bullish FY22 for commodities: From tackling pent-up demand to impact of Russia-Ukraine crisis
It has been an amazing, phenomenal and very bullish year for all commodities. What led to this was the post-pandemic demand recovery which led to a lot of buying into the prices. Also, under-investment in mining, metals and various other sectors, including energy really exposed the fact that if the demand came in so quickly, there was no way that the producer could really catch up.
Bosch acquires 14% stake in Zeliot Connected Services
Bosch Ltd, a provider of technology and services in the mobility ecosystem, on Friday said it has acquired a 14 per cent stake in Bengaluru-based B2B start-up Zeliot Connected Services Pvt Ltd. This investment will enhance Bosch Ltd's role in the mobility landscape through offerings on digital platforms in the personalised and connected mobility, the company said in a statement. The company, however, did not disclose the financial details of the transaction.
Moneycontrol Pro: Mazagon Dock in focus; here’s why
In a few ideas for profit from Moneycontrol Pro, Jitendra Gupta talks about a stock that he is tracking closely, Mazagon Dock Shipbuilders. Mazagon Dock is a high-quality defence stock and it has corrected recently and it is trading near 8 times its FY23 estimated earnings which is quite cheap, particularly in the light of near 3 percent dividend yield.
Hospital chains including Max Healthcare, Fortis face CCI scrutiny over inflated prices
Big hospital chains have come under the Competition Commission of India (CCI) scanner over inflated prices. The Competition Commission of India has sought an explanation from three hospital chains -- Max Healthcare, Fortis Healthcare and Apollo Hospitals -- asking them how they fix the prices of medicines and medical devices. If the CCI is not satisfied with their answers, these hospital chains could face penalties.
Market Watch | Buy Siemens, Bharat Electronics and L&T Tech
Here are trading ideas from Ashish Chaturmohta, Director - Research, Sanctum Wealth Management:
Buy Siemens with a trading stop loss at Rs 2,330 on the downside and Rs 2,450-2,500 on the upside would be the short-term target.
Buy Bharat Electronics with a trading stop loss at Rs 205 for a short-term target of Rs 225.
Buy L&T Technology Services with a trading stop loss at Rs 5,040 and on the upside Rs 5,300-5,350 would be the short-term target.
KFintech Files IPO DRHP With SEBI
KFintech IPO Size Of Rs 2,400 Cr
KFintech IPO To Be A Complete OFS
General Atlantic Singapore Seller In KFIntech IPO
Citigroup recently announced that it's sold Citibank India's retail business to private lender Axis Bank for USD 1.6 billion. In an interview with CNBC-TV18, Amitabh Chaudhry, MD & CEO, Axis Bank, explained that the Axis-Citi deal will be accretive in every which way. He explained that with this acquisition, Axis Bank is now the third player on the credit card and wealth management side. Choudhry touted the deal to be a once in a lifetime opportunity.
Asian Paints shares were up 0.3%
Market Watch | Buy IndusInd Bank and Chambal Fertilisers, says Manas Jaiswal
Here are trading ideas from Manas Jaiswal of manasjaiswal.com:
Buy IndusInd Bank with a target price of Rs 990 and a stop loss at Rs 944
Buy Chambal Fertilisers with a target price of Rs 465 and a stop loss at Rs 420
Ashok Leyland shares rise 1.4 percent
Market Watch | Buy RCF and Gujarat Gas, says Jay Thakkar
Here are trading ideas from Jay Thakkar of Marwadi Shares and Finance:
Buy RCF with a target price of Rs 110 and a stop loss at Rs 85
Buy Gujarat Gas with a target price of Rs 515-530 and a stop loss at Rs 485
Market Watch | Buy HUL and Power Grid, says Prakash Gaba
Here are trading ideas from Prakash Gaba of prakashgaba.com
Buy Hindustan Unilever with a target price of Rs 2,100 and a stop loss at Rs 2,050
Buy Power Grid with a target price of Rs 240 and a stop loss at Rs 217
Brookfield to buy 51% stake from Bharti Enterprises as part of join venture deal
Bharti Enterprises on Friday announced that the company and Brookfield have entered into a join venture agreement for four high quality properties -- Worldmark Aerocity (Delhi), Worldmark 65 and Airtel Center (Gurgaon) and Pavillion Mall (Ludhiana) -- totalling to 3.3 million square feet.
Titan among top losers on Sensex, NTPC top gainer
Buzzing stock | NCC jumps 10% as co to sell subsidiary for Rs 200 crore
Shares of NCC jumped as much as 10 percent on Friday after the company said that it will sell and transfer its entire shareholding in a subsidiary to GRPL Housing. The buyer is part of the Gardencity Realty Group, Bengaluru.
Market update: Sensex, Nifty hold onto gains; midcaps rally
Benchmark BSE Sensex traded 228 points up at 58,796, while the Nifty50 surged 63 points to trade at 17,527. Nifty MidCap 100 gained 0.86 percent. Among Nifty gainers, NPTC traded 4.26 percent higher, while IndusInd Bank charged 2.85 percent. Hero MotoCorp traded 3 percent lower albeit off from the day's low.
