AXY Financial News

The S&P BSE Sensex rose more than 260 points while the Nifty50 closed just below 19400 levels on Monday. India VIX was down by 1.48% from 12.14 to 11.96 levels in the previous trading session. Volatility rose above 12.5 during the day and later cooled off and comforted the bulls. On the weekly options front, the maximum Call OI is placed at 19500 and then towards 19600 strikes while the maximum Put OI is placed at 19300 and then towards 19200 strikes. Call writing is seen at 19500 and then towards 19600 strikes while the Put writing is seen at 19350 and then towards 19300 strikes. “Options data suggests a broader trading range in between 19000 to 19600 zones while an immediate trading range in between 19200 to 19500 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said. “Nifty formed a Bullish candle on the daily frame and closed with gains of around 80 points near 19400 zones,” he said. “Now the index has to hold above 19350 zones, for an up move towards 19480 and 19560 zones whereas supports are placed at 19300 then 19250 zones,” recommended Taparia.We have collated a list of stocks from various experts for traders who have a short-term trading horizon: Expert: Ajit Mishra, SVP — Technical Research, Religare Broking Ltd. told ETBureauAxis Bank: Buy| Target Rs 1010| Stop Loss Rs 925Dabur India: Buy| Target Rs 604| Stop Loss Rs 550GAIL India: Buy| Target Rs 123| Stop Loss Rs 110Expert: Kunal Bothra, Market Expert told ETNow J&K Bank: Buy| Target Rs 98| Stop Loss Rs 90Bajaj Finance: Buy| Target Rs 7200| Stop Loss Rs 6950Sona BLW Precision Forging: Buy| Target Rs 615| Stop Loss Rs 575Expert: Nooresh Merani, an independent technical analyst told ETNowIndusInd Bank: Buy| Target Rs

Axis Bank and Head of Global Research, Axis Capital, has been appointed the part-time chairman of the Unique Identification Authority of India (UIDAI). Nilesh Shah, Managing Director, Kotak Mahindra Asset Management Company Limited, and Prof Mausam, Associate Professor, Computer Science Department, IIT Delhi, will become part-time members.

pension fund APG Asset Management, the World Bank's investment arm International Finance Corp (IFC) and Asian Infrastructure Investment Bank (AIIB) are in a race to invest up to $250 million (₹2,080 crore) in Mahindra Susten's renewable infrastructure investment trust (InvIT), said two people aware of the development. ET first reported on April 26 that several global investors including APG had evinced preliminary interest in investing in the Mahindra InvIT. Mahindra Susten's businesses include the Mahindra Group's renewable-focussed engineering, procurement and construction (EPC) unit (with more than 4 GW of capacity constructed) as well as an independent power production (IPP) unit with around 1.54 GW of operational solar plants. The entire 1.54 GW will be transferred to the InvIT. The portfolio has an enterprise value of about $1 billion, the sources said. «APG, IFC and AIIB are currently conducting due diligence on the assets that are part of the InvIT,» said one of the persons.

A federal court has backed the US Treasury Department’s right to impose sanctions on the cryptocurrency mixer Tornado Cash, dismissing a lawsuit filed by six users.

“Desh Kya Chahta hai aur Bharat ka Bharosa kin par Hai!" India’s leading consumer data intelligence company, Axis My India, today announced that it is building a one-of-a-kind platform leveraging Google technology that aims to bring about a step change in people’s awareness, accessibility, and utilization of a slew of services. These include Government social welfare schemes, basic day-to-day amenities, employment opportunities, and healthcare benefits, and has the potential to benefit up to 250 million Indian households across the country.Built on Google Cloud’s scalable and secure infrastructure, Axis My India’s People Empowerment Platform (PEP) application will use Google Cloud’s generative AI (GenAI) technology to provide relevant information about government schemes and desired communication/content to citizens based on their individual and family needs.

Pyramid Technoplast IPO: Bidding for initial public offering (IPO) of Pyramid Technoplast Limited opened on 18th August 2023 and it will remain open for bidders till 22nd August 2023. Means Pyramid Technoplast IPO subscription will end on tomorrow and investors have just two days in hand to apply for the initial offer. As per the Pyramid Technoplast IPO subscription status, by 12:15 PM on day two of bidding, the public issue has been subscribed 3.40 times whereas its retail portion has ben subscribed 3.98 times.

IDBI Bank: The proposed sale of the government’s stake in IDBI Bank is unlikely to happen this fiscal, posing a challenge to the Centre’s ability to meet the ₹51,000 crore disinvestment target for the year. The government expected more than ₹15,000 crore from the IDBI Bank stake sale, the financial due diligence for which began in July. It had planned to issue financial bids for IDBI Bank by December and completing the transaction in the fourth quarter of the fiscal.

Bank recoveries are likely at their peak and trending lower as the addition of lumpy corporate non-performing assets (NPAs) has slowed. Recoveries are expected to normalise as fresh slippages will mostly come from retail and micro, small and medium enterprises (MSME), accounts that are by nature smaller loans. Bank earnings analysed by ET after the first-quarter results show that bank recoveries have been sliding over the last one year. Recoveries for all large banks were lower than a year ago and down from what they were in March. For example, State Bank of India’s (SBI) recoveries and upgrades were at Rs 3,607 crore in June 2023 down from Rs 5,208 crore a year ago and Rs 4,200 crore reported in March 2023. The trend is the same for Punjab National Bank (PNB), Bank of Baroda (BoB), ICICI Bank, HDFC Bank and Axis Bank. “Bank upgrades and recoveries are trending lower as lumpy recoveries from corporate accounts are few and far between. Also, recoveries from legacy accounts, which were strong for the past few quarters, have started normalising, partly on account of the stock and flow effect,” said ASV Krishnan, senior vice president at HDFC Securities. Krishnan was referring to the improvement in asset quality across the banking sector which has reduced the stock of NPAs, likely impacting recoveries in the future. Take SBI, the bellwether of Indian banking which has seen its gross NPA ratio come down to a decadal low of 2.76% and from a peak of 10.91% in March 2018.

Bank fixed deposits (FDs) are still considered to be one of the safest investment options. Almost all banks provide term deposits ranging between 7 days to 10 years tenure. The interest rates vary from one bank depending upon the tenure.

Sandip Sabharwal, asksandipsabharwal.com, says “in the specialty chemicals space, many stocks are down 30-40% from the top but they are still up 200-500% from the bottoms of 2020. And their margins are going to collapse. This is one segment where people should be very careful for the next two, three years.”Have you been a buyer in the recent market decline along the Q1 earning season? Have you added any positions or bought afresh?My view was that we will still see some corrections.

Climate change, habitat degradation, and other human-caused environmental changes are putting organisms around the world under unprecedented stress. Predicting and mitigating the impacts of growing stress on organisms and the environmental services on which we rely involves knowing why some species can exist in a wide range of conditions while others can only exist in a few.

"Nifty is approaching its next critical support area of 19,200. If we look at the overall call put concentration so 19,200 is having now major put writing activity," says Rajesh Palviya, Axis Securities.Where are you seeing Nifty 50 as well as Bank Nifty headed for the upcoming week because we have a lots of factors that will be in play, the crucial one will be Jackson Hole Symposium and the global markets are not on the positive side so how do you see Nifty as well as Bank Nifty placed currently. This is the fourth consecutive week where we are seeing sustained selling pressure taking place on the Nifty as well as on the Bank Nifty also.

₹151 to ₹166 per equity share of face value of ₹10 each. Pyramid Technoplast IPO garnered a capital of ₹27.55 crore through an anchor book process on Thursday, August 17. Pyramid IPO is made up of fresh issue that totals to ₹91.30 crore and offer for sale (OFS) portion aggregates to ₹61.75 crore on upper band price through the Offer.

A new report from blockchain analytics firm TRM Labs noted that North Korean hackers have stolen more than $2 billion in cryptocurrencies in the past five years. It estimated around $200 million in crypto heists this year alone.

₹40 lakh on Axis Bank for failing to notify the regulator about its acquisition of a stake in CSC e-Governance. The watchdog said in an order that the transaction under consideration comprised acquisition of a 9.91 per cent stake in CSC e-Governance by Axis Bank and was completed in November 2020. The leading private sector lender was required to give a notice to the fair trade regulator as part of the transaction, however, it failed to do so, according to the order.

Ashish Kacholia sold part of his stake in aesthetic solutions provider SJS Enterprises for Rs 11.6 crore through the open market on Friday. Kacholia sold 1,80,489 shares of the company, or 0.6% stake, at Rs 640.01 apiece, bulk deals data on the National Stock Exchange showed. He sold the shares at a premium of around 1% to Thursday’s closing price of the stock.

Happy Forgings has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an initial public offering of shares, which includes fresh issue and an offer for sale by promoter and investor. Through the fresh issue of shares, the company plans to raise Rs 500 crore. Promoter Paritosh Kumar Garg (HUF), and India Business Excellence Fund – III will cumulatively sell 8,054,910 shares in the offer for sale.

Shares of AU Small Finance Bank(up 1.81 per cent), Bank of Baroda(up 0.95 per cent), Axis Bank(up 0.69 per cent), IDFCBANK(up 0.45 per cent) and State Bank of India(up 0.14 per cent) ended the day as top gainers in the pack. On the other hand, Kotak Mahindra Bank(down 0.84 per cent), Punjab National Bank(down 0.71 per cent), HDFC Bank(down 0.41 per cent), Federal Bank(down 0.33 per cent) and IndusInd Bank(down 0.19 per cent) finished as the top losers of the day.

BSE Sensex ended at 64,948.66 down 202.36 points or down 0.31 per cent while the Nifty also closed at 19,310.15 level, down 55.10 points or 0.28 per cent. Majority of sectors felt the heat wherein IT, realty and pharma were among the top losers.

Kothari Sugars & Chemicals(up 3.04%), Uttam Sugar Mills(up 0.72%) and Bannari Amman Sugars(up 0.06%) stood among the top gainers. Rajshree Sugars & Chemicals(down 4.86%), K.M.Sugar Mills(down 3.27%), Sakthi Sugars(down 2.93%), Rana Sugars(down 2.81%), KCP Sugar & Industries(down 2.63%), Balrampur Chini Mills(down 2.43%), AVADHSUGAR(down 2.38%), Ponni Sugars(Erode)(down 2.23%), Dhampur Sugar Mills(down 2.13%) and DCM Shriram Industries(down 2.12%) were among the top losers of the day.

Domestic benchmark index NSE Nifty fell 87.35 points to 19277.9, while the BSE Sensex traded 282.93 points down at 64868.09. On the other hand, Concord Biotech Ltd., Flexituff Ventures, Veto Switchgear, IRIS Business Servic and Tara Chand Logistic stocks hit their fresh 52-week highs today.