Sensex sinks 637pts, gives up 61K, Nifty near 18K; Realty, Metals top drags

CLOSING BELL: TCS, Maruti, Divis's Labs, HDFC Life and Dr Reddy's were among the handful of stocks that held minor gains

8:46 AM

Brokerage Call :: Kotak Institutional Equities on Dr Lal Path Labs

We reiterate our bearish stance on DLPL, with rich valuations of ~58x FY2024E EPS adequately pricing in the long-term volume growth narrative. Looking at the past trends, in the base case, we do not expect any significant earnings benefit to DLPL even if there is a fresh spike in Covid infections.

We stay guarded on any meaningful earnings boost to the listed incumbents such as DLPL, even if competitive intensity from smaller online players ebbs. Reiterate SELL with FV of Rs1,750.

8:43 AM

India's cement industry continues to present a puzzle to investors

Given margin pressure and gradual demand revival, companies with strong balance sheet may gain in long run READ MORE

8:41 AM

200-DMA of BSE 500 companies rises but gains may not be broad-based

More than 280 of the BSE 500 stocks are trading above their 200-day moving average (DMA), at present, against 254 as of September last year. And, 151 of them are trading 10 per cent above their 200 DMA. READ MORE

8:38 AM

Domestic air passenger traffic to cross pre-Covid level in Dec 2022

There is a healthy trend in domestic passenger movement of late - a good sign for the aviation sector, the minister said in a tweet. READ MORE

8:35 AM

Mid-rung lenders register 12-26% credit growth in Oct-Dec quarter

As many as five mid-rung banks have reported credit growth in the range of 12–26 per cent year-on-year (YoY) in the October–December quarter (Q3). The banks’ deposit growth however has lagged, their business update for Q3 shows. READ MORE

8:32 AM

The shine is back: Gold prices in India jump to highest in two years

“Comex spot gold prices resumed trading on a positive note in early Asian hours on Tuesday. Safe haven demand pushed the yellow metal's price higher,” said an analyst at HDFC Securities. “Gold prices inched higher hitting a six-month high as market's attention turn to minutes from theFederal Reserve’s policy meeting, due this week. READ MORE

8:25 AM

Nifty, Bank Nifty exhibit a mixed bias, says Ravi Nathani

Nifty

Targets: 18,336; 18,464

Stop Loss: 17,990

Near Term pattern on charts: The Nifty has closed with a positive bias indicating that buyers will be stronger than bears, with a strict stop loss of 17,990. The best trading strategy for Nifty would be to buy on dips with a target expected 18,336 and 18,464. READ MORE

8:22 AM

IT Q3 Preview :: Will the sector succumb to global headwinds?

8:20 AM

Stocks to Watch: HDFC, IndusInd Bank, PVR

IndusInd Bank: The private lender posted 19 per cent year-on-year (YoY) increase in net advances, at Rs 2.7 trillion, at the end of December 31, 2022. Net deposits, too, grew 14 per cent YoY to Rs 3.25 trillion.

Radiant Cash Management: The stock is likely to debut on a tepid note on Wednesday, given the muted response to the IPO (subscribed only 53 per cent).

HDFC: According to a regulatory filing, loans assigned during the quarter ended December 31, 2022, stood at Rs 8,892 crore compared to Rs 7,468 crore in the corresponding quarter of the previous year. Besides, gross income from dividend for the quarter was Rs 482 crore as against last year's income of Rs 195 crore READ MORE

8:18 AM

Vinay Rajani recommends buying HCC, Nava

BUY HCC

Targets: Rs 23.5; Rs 27

The stock price has surpassed crucial resistance of multiple top placed at Rs 20. The stock has resumed its primary uptrend after a running correction. Price breakout is accompanied with rising volumes. Stock price has been forming higher tops and higher bottoms on the daily charts. READ MORE