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Financial & Morning Market Updates-20 May 25
Markets closed below 25000 levels but well above critical resistance level of 24900. It definitely showed signed of stability and consolidation yesterday.
Realty and PSU stocks were the top gainers yesterday however IT and Media stock fell the most
Nifty Defence index snapped its 6 day winning streak yesterday after Investors booked profits. However BEL and HAL may keep the steam going for some days ahead.
FII were seen selling yesterday in small amount with net sell of 526 cr.
Markets Today
US markets closed in green after a deep red opening. All Asian markets are up too.
Indian Markets are set to open in Green and may bring small cheers on investors face early morning. Sustainance of same needs to be seen in day ahead.
Levels to keep eyes on
Bullish above 25100
Bearish below 24800
Nifty has crucial level of 25000 which it should cross today to move upwards. Any downwards movement below 25000 in day can threaten 24850-24800 levels
After two days of consolidation and closure in Red India’s VIX level fell by 4.5% to close at 17.36% showing increase of fear in markets
Stock News
Varun Beverage approved the acquisition of 50% stake in Sri Lanka based Everest Industrial Lanka for around 33cr.
Mobikwik user base hits 176mn.
Power Grid Q4 profit up by 5.1%
BEL recd order Worth ₹572 cr for Integrated Drone detection and Interdiction system .
BEL also reported 18% increase in Q4 profit
Hindalco may be in focus today as estimaters are expecting good numbers in Q4 results.
RVNL is declared lowest bidder in IRCON project worth ₹178 cr
JK paper reported 72% decline in Q4 profit
Tata Electronics has started assembling Iphone16 and 16e and some older models at its Tamilnadu plant.
Retd UCO Bank CMD was arrested by ED for loan fraud case for sanctioning of over Rs 6200 cr during his period.
Zydus life science, NHPC and around 140 companies are set to announce it’s Q4 earnings today
HFCL has received a purchase order for Rs 174 cr for telecom equipment.
Paras Defence took hit yesterday as it’s promoters sold 13.34 shares worth 5.8% of promoter share holding
IRB infra Q4 profit jumps 14%
PI ind Q4 profit falls 10%
BUY Recommendations
Top Brokerage houses have released their recommendations for this week after Q4 results
Bharti Airtel
CMP- 1818
Tgt- 2170 by Sharekhan
2110 by Motilal Oswal
Mahindra & Mahindra
CMP- 3128
Tgt 3600 by Anand Rathi
3689 by BoB Capital
3500 by ICICI Securities
REC
CMP- 407
Tgt – 525 by Emkay
TITAN
CMP- 3617
Tgt- 4155 by Sharekhan
4000 by Motilal Oswal
V-Guard
CMP- 382
Tgt- 475 by Anand Rathi
Chalet Hotels
CMP- 918
Tgt- 1058 by ICICI securities
Gail
CMP-189
Tgt – 212 by Motilal Oswal
Indian Hotels Company
CMP- 771
Tgt – 917 by Sharekhan
889 by IDBI Capital
900 by Axis Direct
940 by Motilal
Tata Steel
CMP- 157
Tgt – 190 by ICICI securities
Krishna institute of medical sciences
CMP- 645
Exit by ICICI
Hindalco
CMP- 658
Tgt – 770 by ICICI securities
765 by Axis Direct.
Gold/Silver
Gold Jewellery demand has started rising after Gold fell around 7% from its peak. Jwellers has confirmed rising demand of Jewellery for upcoming wedding season in June and July.
Gold prices remained stable at 96400 levels. However silver rates jumped to 98100 levels.
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.
