
Photo Courtesy: economictimes.indiatimes.com
Financial & Morning Market Updates- 23 May 25
A uncertain global development around and technical correction pulled back Indian Markets yesterday to close just above 24600(Nifty)and 80900(sensex) levels
FII did net selling of minus 5000 cr yesterday , whereas DII bought for net 3700 cr.
May month is turning out to be good month for Economy as everyday a good news wrt it’s performance and sustenance ahead is seen, despite the Indo- Pak conflict affecting operations of many companies.
Business Activity Index now has climbed to a 13 month high of 61.2
Dutch Investment company Prosus has given fivefold forecast for increase in current $10 billion value of its India portfolio in next three years
₹ fell 36 p to close at 85.59 against dollar
Markets Today
US markets closed flat and Asian markets are trading mixed this morning
Indian Markets are all set to open in Green. Today. However markets may remain in pressure unless it cross 24800 again.
On Lower end strong support exists at 24400 levels.
STOCK NEWS
Adani Ports board approved raising of Rs 6000 cr through non convertible debentures on private placement basis.
Not so good news for Nestle and IndusInd shareholders as these stocks are being replaced in constituent of Sensex including Sensex, BSE100, Sensex50, Sensexnext50 and Bankex by Trent and BEL. IDFC first Bank will replace Canara Bank in Bankex. Changes will be effective from 23 June. Some positive and negative impacts can be seen in these stocks in market today.
ITC Q4 profit moved up marginally by 3% but revenue beats all estimates.ITC also declared a dividend of Rs 7.85
Sun pharma Q4 falls 19%. Dividend of Rs 5.5 per share declared
Airtel payment Bank Q4 profit jumps 148%
Honasa Consumer Q4 profit falls 18% but revenue up by 13%
Deepak Fertilizer Q4 profit jumps 23%
Swiggy has given a big disclosure wrt it’s falling stocks. Swiggy is losing Rs 18 for every Rs 100 sale on Instamart. Swiggy has fallen 50% from its peak of 617 to CMP of 315. HSBC has slashed tgt price of Swiggy to Rs 350
Bajaj Auto is set to take control of Austrian Motorcycle manufacturer KTM in deal valued at Rs 7800 cr
Anil Ambani’s Reliance Defence signed a deal with Germany Arms Manufacturer Rheinmetall AG for supply of ammunition like arty shells and explosive from a new facility to be set up on Maharashtra.
BUY/SELL RECOMMENDATIONS
As Q4 results are pouring in, so is recommendations from Brokerage Houses..
BEL
CMP- 383
Tgt – 420 by ICICI Securities
450 by Anand Rathi
430 by Sharekhan
CESC
CMP- 168
Tgt- 195 by sharekhan
198 by ICICI
DLF
CMP- 775
Tgt- 954 by ICICI securities
Hindalco
CMP- 649
Tgt- 770 by ICICI securities
765 by Axis Direct
Jyothy Lab
CMP- 334
Tgt- 395 by Sharekhan
Godrej Consumer
CMP- 1254
Tgt 1432 by Sharekhan
Acme Solar
CMP-252
Tgt- 350 by ICICI
Sagility India
CMP-43
Tgt- 60 by ICICI securities
South Indian Bank
CMP- 28
Tgt- 37 by ICICI securities
Gold/Silver
Gold dropped to 98700 levels this morning.
Silver went up and is trading at 103300 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.