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Financial & Morning Market Updates- 08 May 2025
Amazing market performance seen yesterday, inspite of falling below 24300 levels…market cheered Op Sindoor Strike by India and ended well above 23400 in Green!!
Thanks to FII and DII who came strongly to do huge buying in Markets yesterday. FII were net buyers for Rs 2600 cr and DII bought for Rs 2380 cr. Auto and FMCG index was the major gainers. Especially Tata Motors came back strongly to move closer to 700 mark. Mazagon Dock and HAL saw heavy profit booking as massive sell off took place.
Govt issues Letter of Intent to Starlink for sitcom services in India.
India has agreed to reduce import duty under India-UK FTA to 10% from current 100%. If it works, Defender may soon cost below 60 lakhs in India. However details of types of car covered in this new deal is awaited. . Following UK products will see massive rate falls in India….
Scotch Whiskey
Beauty products
Cars
Chocolate
₹ clocked biggest slide against US dollar post Op Sindoor and fell by 40 paise to close at 84.83 against US dollar.
Markets Today
US markets closed in Green and Asian Markets are trading mixed.
Post showing a spectacular resilience, Indian Markets are likely to open flat levels.
STOCK NEWS
Tata motors has approved splitting into two distinct entities, seperating it’s passenger vehicle and commercial vehicles.
Coal India net profit rose by 12% in Q4. Citi ups Coal India Target price to Rs 395 against CMP of 383
Flight cancellations till 10 May by Indigo will affect its operations in North India and also is taking toll on share price.
Nexus REIT has acquired a property comprising Mall and a hotel in Ludhiana for approx Rs 500 cr.
PNB came back strongly as it’s Q4 jumped nearly 50% in Q4. Dividend of Rs 2.9 announced
Voltas Q4 profit zooms 107% and revenue up by 13%. But CLSA reduces voltas target to 1375.
Record date for SBI dividend of Rs 15.9 has been fixed for 16 May
UBL Q4 profit jumps by 21% yoy. Dividend of Rs 10 per share recommended.
Parag milk sells Sonipat Unit for Rs 17 cr.
Citi Raises HPCL tgt price to Rs 510 from Rs 460 against CMP of Rs 396
All eyes will be on Titan, L&T , Bharat Forge and Asian Paints, as it’s coming up with its Q4 results today.
BUY/SELL RECOMMENDATIONS
Amidst this season of results, Brokerage houses have released their recommendations
KPIT Tech
CMP- Rs 1283
Tgt 1456
Recommended by Geojit BNP Paribas
Varun Beverages
CMP- 512
Tgt 639
Recommended by KR Choksey and Axis Direct
Mahindra & Mahindra
CMP- 3119
Tgt 3689
Recommended by BoB Capital , Moti lal Oswal and ICICI securities
Railtel Corp
CMP- 307
Tgt- 270
Sell recommended by ICICI securities
Indian Hotels
CMP-765
Tgt- 900
Buy recommended by Axis Direct, IDBI Capital, Motilal Oswal
Ami Organics
CMP- 1146
Tgt 1385
Recommended by KRChoksey
Gravita
CMP- 1905
Tgt- 2670
Recommended by ICICI securities
AWL agri
CMP- 261
Sell recommended by KRChoksey
Gold/Silver
Gold prices remained stable at yesterdays level at 100800.
However silver prices jumped to 99200 levels.
Well, a sense of caution do prevail in Indian Markets but Heavy Buys by FII and DII are keeping things intact. A strong breakout resistance at top at 24550 still remains for markets to move up and immediate bottom support at 24200 should not be broken to avoid major correction. Analysts see small correction coming up shortly before a major rally happens again!!
The Indo-Pak conflict has moved up the VIX levels which measures fear in market to 19.06 levels.
A cautious approach to market is key to sustainance now!!
Happy Investing!!
Disclaimer: All investments are subject to market risks. Please check the fundamentals and other stock market parameters carefully in detail before investing. Also, it is always good to consult a qualified financial advisor for stock market investments. Opinions and Recommendations above are Authors’ personal, you are should carry out your own checks & balances and due diligence before investment.
