Monday, December 23, 2024 | 10:22 PM ISTEN Hindi

Sensex rises 488 pts in relief rally; Nifty Realty up 6%; Tata Motors 13%

In the broader market, the BSE MidCap and SmallCap indices added 1.7 per cent and 1.4 per cent, respectively

SI Reporter New Delhi

MARKET LIVE: Sensex off highs, up 500 pts; HDFC twins, HUL top drags

9:03 AM

Sensex up 374 points in pre-open trade on Thursday

The BSE Sensex was up 374 points in the pre-open trade this morning. The NSE Nifty50 index was also up over 150 points.

8:57 AM

Top stocks to be on investor radar today

RIL: Days after breaking its partnership with Future Group, Dallas based 7-Eleven INc (SEI) signed and agreement with Reliance Retail Ventures to launch convenience stores in India. The first 7-Eleven store will open on Saturday in Andheri, Mumbai. In a statement, RRL said it will rollout 7-Eleven stores in key neighborhoods and commercial areas, across the Greater Mumbai cluster to start with.

ZEEL: Zee Chairman Emeritus Subhash Chandra on Wednesday asked minority shareholder Invesco to make an open offer and take over the company if it wants, saying the investment firm was acting in a clandestine manner. "Don't be adamant on calling EGM," Chandra said in an interaction with Zee News. Terming it as an "illegal step being taken by Invesco", the media doyen said, "This is insider trading, and a takeover." READ MORE

8:52 AM

Axis Securities suggest varied Asset Allocation to sail through volatile market

8:50 AM

HDFC Securities see Dabur India's stock at Rs 716 in bull case scenario

>> We expect EPS growth of ~13% CAGR over FY21-24E on the back of 11.4% CAGR growth in sales over FY21-24E.

>> While Dabur’s performance over FY16-20 was on the lower end amongst its FMCG peer group, we expect it to significantly outperform its peers over next 3-5 years, FY21, if anything was the path-breaking year it needed.

>> We think the base case fair value of the stock is Rs 670 (51.5x Sept’23E EPS) and the bull case fair value of is Rs 716 (55x Sept’23E E EPS). Investors can buy the stock in the Rs 613-619 band (47x Sept’23E EPS) and add more on dips to Rs 557-563 band (43x Sept’23E EPS). At LTP of Rs 616, it quotes at 47.4x Sept’23E EPS.

8:48 AM

Emkay Global on liquor stocks

>> Our channel checks and management interactions indicate encouraging volume recovery for the alcobev industry across most states since July. In addition, regulatory changes have continued to be positive and are likely to further boost growth rates ahead.

>> We believe that alcobev growth will outperform most consumer staples in the medium term as the sector comes out of the pandemic impact and favorable policy changes provide the additional impetus.

>> We maintain our positive stance on the sector and increase our EPS forecasts by 3-7% across companies.

8:43 AM

Stocks in F&O ban today

>> Canara Bank

>> Indiabulls Housing Finance

>> National Aluminium

>> PNB

>> SAIL

8:41 AM

Fuel Price Hike

8:40 AM

JPMorgan raises target price on Titan

>> Rating: Neutral | TP: Rs 2,320 (from Rs 2,000)

>> Solid Q2 revenue growth drives EPS upgrade and supports premium valuation

>> EPS upgraded by 6% over FY22-23

8:38 AM

Credit Suisse maintains 'Neutral' rating on Titan Company

>> Jewellery growth in Q2 significantly ahead of expectations

>> Increase our FY22/23/24 earnings estimate by 8%/5%/5%

>> Rating: Neutral | TP: Rs 2,150

8:35 AM

Q2 Business Update :: Kalyan Jewellers

>> Witnessed revenue growth of ~60% for India operations

>> Non south markets recorded a higher same store sales growth of ~70% compared to south markets which recorded same store sales growth of ~40%.

>> Gross margin for the current quarter improved versus the prior quarter, driven largely by the increase in the studded mix.

READ MORE DETAILS HERE

8:32 AM

Market Ahead Podcast: Top factors that could guide markets today

Nervousness in the global markets, along with weekly F&O expiry, will likely keep the markets volatile on Thursday. That apart, stock-specific action, foreign fund flow, and the rupee’s movement will also guide the market trajectory. Remember, the RBI has commenced its three-day MPC meeting in which the central bank is expected to keep rates unchanged. However, it is likely to announce measures to gradually pump out liquidity from the economy, which is also affecting market mood. LISTEN TO PODCAST HERE

8:31 AM

NEWS ALERT :: Reliance Retail to launch 7-Eleven Stores

>> Reliance Retail Ventures Limited, through its wholly owned subsidiary, 7-India Convenience Retail Limited, has entered into a master franchise agreement with 7-Eleven, Inc. for the launch of 7-Eleven convenience stores in India.

>> The first 7-Eleven store is set to open on Saturday, October 9 in Andheri East, Mumbai. This will be followed by a rapid rollout in key neighborhoods and commercial areas, across the Greater Mumbai cluster to start with.

Source: BSE Filing

8:30 AM