Experts Financial News

Aptech Ltd, part of the education industry, has fallen more than 30% from May 2023 highs and has taken multiple support above 240 levels and bounced back which suggests that the stock has bottomed out. Short-term traders can look to buy the stock for a possible bounce back towards 300 levels in the medium term, suggest experts. The stock which is also part of the S&P BSE Small-cap index hit a record high of Rs 422 on 30th May 2023, but it failed to hold on to the momentum. The small-cap stock underwent a price-wise correction which took the stock below 50 and 200-DMA in October 2023. The stock found support above 240 levels multiple times in November before bouncing back in December 2023.

Ambuja Cements Ltd. traded 1.49 per cent up in Thursday's trade at 10:40AM (IST). Around 217,188 shares changed hands on the counter.

At the interbank foreign exchange, the rupee opened at 83.30 against the dollar and then touched a low of 83.32, registering a fall of just 2 paise over its previous close. On Wednesday, the rupee settled at 83.30 against the dollar. The rupee rose on Wednesday on flows from a Hong Kong-based bank amounting to USD 500 billion.

Adani Power Ltd. traded 0.13 per cent down at Rs 543.9 at 10:50AM (IST) on Thursday, even as BSE benchmark Sensex gained 419.19 points to 71775.79. The stock had closed at Rs 544.65 in the previous session.

Samvardhana Motherson International Ltd.(up 1.81 per cent), Tata Motors Ltd.(up 1.7 per cent), Sona BLW Precision Forgings Ltd.(up 0.84 per cent), Mahindra & Mahindra Ltd.(up 0.6 per cent) and Ashok Leyland Ltd.(up 0.41 per cent) were among the top gainers. Tube Investments of India Ltd.(down 0.92 per cent), Maruti Suzuki India Ltd.(down 0.61 per cent), Eicher Motors Ltd.(down 0.59 per cent), Balkrishna Industries Ltd.(down 0.54 per cent) and Hero MotoCorp Ltd.(down 0.54 per cent) were the top losers on the index.

Bengaluru real estate market is one of the sought-after in the country and has consistently delivered rich returns to investors across established and emerging segments of real estate. “Touted as the Silicon Valley of India, Bengaluru possesses the fundamentals for attracting domestic and global investments in the form of the highest number of engineering colleges in the country and some of the marique management colleges. This is consistently driving the demand for commercial, residential, retail, and warehousing sectors to meet the evolving needs of occupiers, homebuyers, and shoppers and presents immense opportunities in the real estate sector," said Sankey Prasad, CMD, Colliers India.

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Coal India , ONGC , OIL India, Power Grid Corporation of India , Petronet LNG, Gujarat State Fertilizers and Chemicals , PTC India , Rites , Gujarat Narmada Valley Fertilizers and Chemicals , Chennai Petroleum Corporation are the top PSU stock picks by Religare Broking paying high dividend yields. Dividend yield is one of the main factors to consider when investing in dividend paying stocks. It is an indicator of the returns investors are earning on their shares.

₹1,254.15 in morning trade on BSE on Thursday, January 4. This came right after the stock's significant surge of nearly 11 per cent in the previous session. Sobha share price opened at ₹1,125.95 against the previous close of ₹1,116.65 and jumped over 12 per cent to hit its record high level.

Buy or sell stocks for today: Following weakness in global market sentiments, Indian stock market extended the selling spree for second straight session on Wednesday. Nifty 50 index lost 148 points and closed at 21,517 levels, BSE Sensex crashed 535 points and closed at 71,356 mark whereas Nifty Bank index went off 56 points and finished at 47,704 levels.

Hindenburg Research's allegations of fraud, misgovernance and stock price manipulation. It said the Securities and Exchange Board of India (Sebi) was conducting a «comprehensive investigation» that «inspires confidence.» It asked the regulator to complete investigation within three months. Sebi has, so far, completed its Supreme Court-ordered probe into 22 of 24 items. The apex court also asked the Centre and Sebi to constructively consider suggestions of the six-member expert committee headed by former Supreme Court judge AM Sapre, and take further action to strengthen the regulatory framework, protect investors and ensure the orderly functioning of the securities market.

NEW DELHI : India should explore alternatives to lithium-ion batteries for scaling up electric mobility, the government’s principal scientific advisor Ajay Kumar Sood said, amid a global scramble for critical minerals. Sood, who also chairs the Prime Minister’s Science, Technology, and Innovation Advisory Council specifically mentioned sodium-ion and aluminium air batteries as alternatives to lithium. Mining lithium is yet to take off in India although reserves found in Jammu and Kashmir and Rajasthan make India among the top 10 holders of the mineral.

₹1 crore, then the maximum loan amount is capped at ₹80 lakh. It is important to note that the loan amount will be disbursed as monthly payments. In case of a medical emergency or other such cases, most banks offer lump sum payments of up to 50% (capped at ₹15 lakh) of the total loan amount.

Vedanta Resources (VRL) have voted in favour of a proposed restructuring of the debt instruments that were due to mature starting later this month, helping metals maven Anil Agarwal stick to financial commitments ahead of a series of planned multiple listings for his operational companies in India in an ambitious value-unlocking exercise. People familiar with the matter told ET that the approval is more than 97% for bonds maturing in 2024, 2025, and 2026. The company had to immediately repay $1 billion debt on January 21.

Vedanta Vedanta's alumina production at Lanjigarh refinery was up 6% year-on-year to 470kt in the quarter ended December. The cast metal aluminium production at smelters also rose 6% YoY. Bajaj Auto Bajaj Auto said that its board will have a meeting on January 8 to consider and approve buyback of shares. LTIMindtree The company has received an order from GST Mumbai office for demand worth Rs 208 crore. NHPC NHPC has signed a MoU with GPCL for proposed investment of Rs 4,000 crore in Kuppa Pumped Storage Project (750 MW). BGR Energy Central Bank of India and SBI have classified the company's accounts as non-performing assets. Read more: Here's the trade setup for today's session Tech Mahindra Richard Lobo has been appointed as Chief People Officer of the company with effect from January 3. Ujjivan SFB Ujjivan SFB's total deposits rose 29% to Rs 29,869 crore for the quarter ended December, while disbursements were up 17% to Rs 5,675 crore. IEX For the third quarter of the fiscal year 2024, IEX achieved 28,326 MU overall volume, registering an increase of 17% YoY basis. IndusInd Bank IndusInd Bank's net advances rose 20% YoY to Rs 3.26 lakh crore for the December quarter.

«Overall we expect the market to consolidate and take a pause before the quarterly results starts, leading to more stock-specific action,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal. Here's breaking down the pre-market actions: STATE OF THE MARKETS

By Tim Hepher, Allison Lampert, David Shepardson and Valerie Insinna

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Vedanta Ltd on Wednesday said its total aluminium production rose 6 per cent to 5,99,000 tonnes in the third quarter of the current financial year. The company's aluminium output stood at 5,66,000 tonnes in the year-ago period.

The NSE Nifty 50 index fell 0.69% to 21,517, while the S&P BSE Sensex shed 0.75% to 71,356. Here's how analysts read the market pulse: «Nifty formed a bearish candle with a substantial body in the daily chart. The Donchian Channels, which identify bullish and bearish extremes, indicate that Nifty is holding its middle band. Key support levels are identified at 21,400, while resistance is placed at 21,700 levels,» said Om Mehra, Technical Analyst, SAMCO Securities. Rupak De, Senior Technical Analyst at LKP Securities, said, «Nifty dipped below the support level of 21,650, resulting in a decline towards 21,500. The prevailing sentiment appears weak, highlighted by the index closing below the crucial support at 21,650. If it continues to drop below 21,500 in the upcoming days, it could potentially exacerbate the negative sentiment, especially with expectations of substantial unwinding by the put writers below 21,500. The broader market outlook suggests a sell-on-rise strategy as long as it stays below 21,650.» That said, here’s a look at what some key indicators are suggesting for Thursday's action:

Shipping major MSC in a client advisory announced that it will implement a contingency surcharge of $1,500 per container on all shipments from the Indian sub-continent to Europe and Black Sea destinations. CMA CGM announced a similar Red Sea surcharge of $1,575 for 20-foot dry containers and up to $3,000 for reefer containers and special equipment. Other major shipping lines too have announced such surcharges.