Experts Financial News

Wipro, HCL Tech, Tech Mahindra, LTIMindtree, Coforge, Persistent Systems and L&T Technology Services - simultaneously achieving their respective 52-week highs. The robust surge in IT stocks played a pivotal role in propelling the Nifty 50 and the Sensex to attain new all-time highs on Monday. The Q3FY24 numbers of several Indian IT firms were not as bad as analysts had feared.

Porinju Veliyath has raised his stake in Kerala Ayurveda by 164 bps to 4.82% in the quarter ended December 30, 2023. At the end of the September quarter, he held 3.18% stake in the company. The value of his holding is nearly Rs 17 crore, Trendlyne data said. Shareholding of individual investors is reflected in the ‘Shareholding Pattern’ of BSE-listed companies only if it is 1% stake or above in the company. The smallcap counter has delivered multibagger returns of over 200% in the past 12 months, which is significantly higher than Nifty itself, which has delivered impressive returns of over 23% during this time.

guidelines for Alternative Investment Funds (AIFs) pertaining to holding their investments in dematerialised form along with the appointment of custodian. Under the latest guidelines, AIFs are required to hold their investments in dematerialised form, unless exempted by Sebi. The new framework, effective from October 1, 2024, mandates that any investment made by an AIF after this date must be held in dematerialised form, Sebi said in a circular.

Penny stock under ₹10: Vikas Lifecare shares are one of those small-cap stocks of the Indian stock market that are priced under ₹10 per share. This penny stock under ₹10 has been in an uptrend after ushering in the new year 2024. The small-cap stock has surged from ₹4.95 to ₹7.45 apiece levels in the year 2024, delivering over 50 per cent return to its positional shareholders.

SBI Cards and Payment Services Ltd. traded 0.91 per cent up at Rs 773.7 on Monday at around 12:55PM (IST), while the benchmark BSE Sensex advanced 606.02 points to 73174.47. As many as 29,376 shares changed hands on the counter with a total value of Rs 2.25 crore.

PI Industries Ltd. gained 0.03 per cent to Rs 3450.0 at 01:00PM (IST) in Monday's trade. The stock has hit a high of Rs 3486.3 and low of Rs 3430.0 so far during the session.

Ashok Leyland Ltd. dropped 0.08 per cent to Rs 176.5 at 01:05PM (IST) in Monday's trade. The scrip hit a high of Rs 177.75 and low of Rs 175.5 so far during the session.

Marico Ltd. rose 0.52 per cent to Rs 530.0 in Monday's trade. It hit an intraday high of Rs 534.5 and low of Rs 529.35, respectively, during the day.

Geojit Financial Services observed that the current rally in the market, primarily driven by momentum, is now getting support from fundamentals. He said the sharp bounce in large-cap IT stocks on the back of slightly positive management commentary indicates that an underperforming segment can surprise on the upside on news of a turnaround in the sector. Also Read: Nifty 50 advances for 5th straight session, crosses 22,000 mark for first time; Wipro, Infosys, TCS among major gainers Vijayakumar further added that the Nifty has broken out on the upside from the consolidation range and it shows signs of a further up move.

Jyoti CNC Automation IPO: After the allotment of shares, investors are eagerly waiting for the Jyoti CNC Automation IPO listing date, which is most likely on 16th January 2024. In the wake of T+3 listing rules, which have become mandatory from 1st December 2023, Jyoti CNC Automation share price is most likely to hit the Indian stock market on 16th January 2024 i.e. tomorrow.

Pidilite Industries Ltd. gained 0.41 per cent to Rs 2744.0 in Monday's trade as of 12:19PM (IST). It hit a high of Rs 2746.6 and low of Rs 2718.4 during the session.

Varun Beverages Ltd. traded at Rs 1266.4 on BSE at 12:29PM (IST) on Monday, up 0.09 per cent from previous close. The scrip quoted a 52-week low price of Rs 550.0 and a high of Rs 1380.45.

LAHAINA, Hawaii—Nearly six months after a wildfire incinerated Lahaina, clean-up crews this week are scheduled to begin clearing the charred rubble to make way for a near-total rebuild—a task that will be extraordinarily complicated due to the sensitive ecology and deep history of this former Hawaiian royal capital. Fire clean-ups are often tricky, but prepping Lahaina for its next phase presents some extra challenges. It’s on a remote island with only one access highway.

Wipro. The Nifty 50 hit the 22,000 mark for the first time, setting its fresh peak of 22,081.95 while the Sensex scaled its fresh record high of 73,288.78 during the session.

TCS vs Infosys vs Wipro vs HCL Tech: After the announcement of Q3 results 2024 by Indian IT majors — HCL Technologies, Tata Consultancy Services (TCS), Infosys, and Wipro, in the week gone by, all four IT majors of the Indian stock market have been in a bull trend. In early morning deals on Monday, all four IT stocks touched new 52-week highs respectively. HCL Tech shares hit a new lifetime high after climbing to its new 52-week high on Monday.

wage hike could be on the horizon as the central government considers adopting the suggestions of a high-level expert panel, The Economic Times reported. Officials anticipate that the recommended floor wage, set by an expert committee led by SP Mukherjee since 2021, might be enforced before the upcoming general elections scheduled for April-May this year, it added. The committee, established for a three-year term until June 2024, is on the verge of submitting its report, sources told the paper.

Also Read: Infosys, TCS stocks help Nifty 50 hit all-time high again This extraordinary rally was primarily driven by the Information Technology (IT) sector, where industry leaders such as Infosys, TCS, Wipro, and HCL delivered robust performances in the third quarter of the fiscal year 2024. Infosys and Wipro, which have been laggards in comparison to the benchmark, indices are making a strong comeback following their robust Q3 FY24 results, contributing to the Nifty 50 robust rally.

earnings season, as many as 24 companies will announce their December quarter results on Monday. Street will be keeping a track on Mukesh Ambani promoted Jio Financial Services.

Bandhan Bank, Bharat Heavy Electricals (BHEL), Chambal Fertilizers & Chemicals, Delta Corp, Escorts Kubota, Hindustan Copper, The India Cements, Indus Towers, Metropolis Healthcare National Aluminium Company, Piramal Enterprises, Polycab India, PVR Inox, Steel Authority of India (SAIL) and Zee Entertainment Enterprises (ZEEL). Indian Energy Exchange (IEX) has moved out of the ban. The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban is reversed only if the open interest falls below 80%. Traders who trade in indices do not encounter a situation of security ban. The MWPL for Bandhan Bank stood at 89.3% on Friday with OI reported by Trendlyne at 99.6 million.

South Korean regulators will not give the green light to a domestic Bitcoin spot ETF before the nation’s next general elections, insiders claim.