Stock Market Highlights, June 13: Sensex, Nifty end listless session with minor gains; VIX down 6%

Stock Market Highlights on June 13: The BSE Sensex ended 204 points higher (at 76,811), while the Nifty closed 76 points up (near 23,400)

SI Reporter New Delhi

Photo: Bloomberg

8:16 AM

Buzzing stocks, June 13: BLS In't, DrReddy's, Sobha, Torrent Pharma, Gensol

Here is a list of stocks to watch out today:

BLS International Services:BLS International FZE, a wholly-owned subsidiary of the company, has entered into a share transfer agreement to acquire 99 per cent equity shares of Egypt-based Balozi Liaison Services. With this, Balozi will become a step-down subsidiary of the company, it said in an exchange filing.

The acquisition will be completed on or before July 31, 2024.

Torrent Pharma:The USFDA, which conducted a pre-approval inspection and a GMP inspection at its Indrad facility from June 3 to June 12, 2024, has issued Form 483 with five observations. Read more

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8:13 AM

Hospital volumes soft; diagnostics steady: Nuvama Research

The healthcare sector Q4FY24 revenue, Ebitda and PAT growth of 14 per cent, 22 per cent and 24 per cent YoY.

Ebitda margin improved 115bp YoY to 18 per cent.
Both hospitals and diagnostics reported strong numbers.
Hospitals’ revenues led by 11 per cent ARPOB and 3 per cent volume growth.
Barring Medanta and Max, volume growth is muted.
Ebitda margin narrowed for KIMS, Medanta and APHS; up at Fortis.
Bed addition plan on track; hospitals eying 30–65 per cent addition to net block in 2–3 years.
Diagnostics on a steady footing; with revenue/EBITDA growing 15 per cent and 22 per cent YoY
Fortis and Vijaya beat estimates; Max, APHS, DLPL, Metropolis are in-line;
KIMS, Rainbow and Medanta missed estimates.

Source: Nuvama Research

7:59 AM

Investors have matured, bear market not a major worry for MFs: DP Singh

SBI Mutual Fund’s ascent to Rs 10 trillion in assets under management (AUM) is buoyed by the post-Covid rally in the equity market and bolstering of its distribution channels, says DP Singh, deputy managing director and joint CEO, SBI Mutual Fund. In an interview with Business Standard, Singh believes the AUM can touch Rs 20 trillion over the next five years if the market remains supportive. Read more

D P Singh, Deputy CEO, SBI Mutual Fund, BFSI Summit

7:53 AM

Fund managers pruned PSU exposure ahead of election result-day crash

Mutual funds (MFs) cashed in on their investments in public sector undertaking (PSU) ahead of the general election results. In May, MFs were the net sellers in several PSUs, as they deployed Rs 47,600 crore in equities during the month.

Canara Bank led the list of the most sold stocks by fund managers in May with an estimated pull out of Rs 2,270 crore, according to a Nuvama Alternative & Quantitative Research report.

The list of the 30 most sold stocks featured names of nine PSUs, compared to four in April. The aggregate redemption in these nine stocks, which also included Bharat Electronics, Punjab National Bank, and GAIL, amounted to Rs 9,570 crore. Only one PSU — IRFC — was among the most-bought stocks in May with the aggregate MF investment estimated at Rs 860 crore. Read more

Staging a comeback: PSU stocks climb peaks, but valuation cliff awaits

7:52 AM

Top three stocks picks for June 13 by Anand Rathi; check target prices

Campus:

After a period of consolidation in the approximate range of Rs 242-266, Campus has successfully broken out of a bearish trendline that had persisted for 8 months. The stock is now comfortably maintaining its position above this trendline, indicating a strong upward movement.

From an indicator perspective, the weekly DMI has given bull cross, which is a positive sign for potential gains. Based on this analysis, we recommend that traders and investors consider taking a long position in the range of Rs 277-287. Read more

7:47 AM

Ajit Mishra of Religare Broking recommends buying these three stocks today

Stocks Recommendations

NMDC LIMITED | LTP: Rs 263 | Buy |Target: Rs 286 | Stop-loss: Rs 252

The stock has consistently outperformed and shows a clear uptrend. During the recent correction, it found support near its previous resistance zone and established a strong base around the 20 EMA. It is now moving higher from this base, accompanied by an increase in price and volume activity. Read more

7:42 AM

Stock market today Jun 13: Global shares hint gap-up open for Sensex, Nifty

Pre-stock market update for Thursday, June 13, 2024:The Sensex and the Nifty are likely to open with a significant gap-up this morning backed by positive cues from overseas peers. The benchmark indices may attempt to scale new record highs amid the renewed optimism on economic growth.

On Wednesday, the Sensex topped the 77,000-mark for the second time in history, but fell short of its record high of 77,079. The BSE benchmark eventually ended 0.2 per cent higher at 76,607. Read more