Experts Financial News

₹4.10 per share. However, the stock witnessed strong buying interest post listing and went on to touch an intraday high of ₹542.50 apiece on NSE.

Tata Power Company Ltd. traded 0.65 per cent higher in Friday's session at 01:28PM (IST). The stock opened at Rs 330.4 and has touched an intraday high and low of Rs 335.85 and Rs 326.1, respectively, during the session so far.

Colgate-Palmolive (India) Ltd. traded 1.27 per cent down in Friday's trade at 01:34PM (IST). Around 4,747 shares changed hands on the counter.

Benchmark Nifty 50 rallied over 8% in the December derivative series, clocking its best gains in a series since February 2021. This was also the highest series gain by the index in 2023. Further, foreign institutional investors significantly increased their net long positions, taking the long-short ratio sharply higher to 2.28 at the beginning of the January series from 0.56. Open interest in Nifty January futures at over Rs 301 billion or 13.9 million shares, is the highest seen since the April derivative series, pointed out analysts. The base with which the new year and the January series begin shows the ultra-bullish sentiment prevailing in the market. However, most analysts have sent out a word of caution and believe that a trend reversal is quite possible in the current series. “It’s quite evident that FIIs, previously leaning towards a short bias, have now pivoted strongly towards a long bias and their current index future long positions make up nearly 70% of the total open interest.

Avenue Supermarts Ltd. traded at Rs 4045.0 on BSE at 01:08PM (IST) on Friday, 0.0 per cent. The stock quoted a 52-week low price of Rs 3292.65 and a high of Rs 4205.0.

Indian Hotels Company Ltd. traded 0.74 per cent up in Friday's trade at 01:13PM (IST). Around 55,368 shares changed hands on the counter.

Swan Energy's board has approved raising Rs 4,000 crore through the issuance of equity shares or any other eligible securities. The decision was made during the board meeting held on December 28, 2023. Following the board's approval, the company will seek the requisite approval for fund-raising from its shareholders through an extraordinary general meeting (EGM). Swan Energy recently announced that it has made a repayment of Rs 40 crore debt towards its entire fund-based facilities of the textile unit to the consortium of banks led by Union Bank of India comprising Bank of Baroda, Punjab National Bank, and Mehsana. This move is part of Swan Energy’s commitment to significantly reduce the debt position in its books. «The debt repayment demonstrates Swan Energy’s goal to further strengthen the financial position by efficiently managing the financial obligations,” the company said. Swan Group has a presence in the textile, real estate, oil and gas, and petrochemical sectors.

Bharat Forge Ltd. traded at Rs 1236.6 on BSE at 01:18PM (IST) on Friday, down 0.69 per cent from previous close. The scrip quoted a 52-week low price of Rs 744.0 and a high of Rs 1247.0.

FIIs in the holiday-heavy month, December has turned out to be the best month for Nifty in the last one-and-a-half years with a 7.8% rally. The headline index, which hit an all-time high of 21,801.45 on Thursday, had rallied 5.5% last November. The previous best monthly gain for the index was in the monsoon of July 2022 when Nifty surprised with an 8.7% rally. The bluechip rally on Dalal Street has left smallcaps behind as smart money found the valuations of largecaps relatively more attractive. December month F&O data shows that the rollover for Nifty futures stood at 79.54%, surpassing both the previous month's figure of 73.06% and the average rollover of the last three months, which was 78.66%. FII Long-Short ratio increased from 0.56 to 2.28.

Adani Power Ltd. traded 0.33 per cent down in Friday's trade at 12:32PM (IST). Around 32,366 shares changed hands on the counter.

Bharat Electronics Ltd. gained 0.6 per cent to Rs 183.8 in Friday's trade. It hit a high of Rs 185.2 and low of Rs 181.05 during the session.

Power Grid Corporation board on Friday approved raising of Rs 2,200 crore through bonds. The company's committee of directors for bonds, in their meeting on July 29, 2023, approved the raising of up to Rs 5,700 crore in FY 23-24 in multiple tranches to part finance its capex requirement, for providing inter corporate loan(s) to wholly owned subsidiaries/JVs and for general corporate purposes, according to a regulatory filing.

Jubilant Foodworks Ltd. traded at Rs 569.0 on BSE at 12:43PM (IST) on Friday, down 0.18 per cent from previous close. The scrip quoted a 52-week low price of Rs 412.2 and a high of Rs 586.35.

In the ever-evolving world of cryptocurrencies, competition among blockchain platforms is fierce. Solana (SOL), with its lightning-fast transactions and impressive scalability, has secured its spot among the top cryptocurrencies. However, there’s a new contender on the horizon that’s catching the attention of experts and enthusiasts alike.Retik Finance (RETIK) is ready to challenge Solana’s market cap dominance, and here’s why experts believe it’s the Solana alternative to watch.

The NSE Nifty index traded 67.35 points down at 21711.35, while BSE Sensex was down 238.55 points at 72171.83 as of 11:00AM(IST)on December 29. In the Nifty index, Tata Motors Ltd.(up 6.30 per cent), Tata Consumer Products Ltd.(up 3.20 per cent), Tata Steel Ltd.(up 1.27 per cent), Adani Enterprises Ltd.(up 0.99 per cent) and Nestle India Ltd.(up 0.91 per cent) were among the top gainers.

SRF Ltd. traded at Rs 2492.95 on BSE at 11:01AM (IST) on Friday, up 1.11 per cent from previous close. The stock quoted a 52-week low price of Rs 2050.0 and a high of Rs 2636.65.

Endurance Technologies Ltd. with a target price of Rs 2000.

Sandur Manganese & Iron Ores(up 2.18%), Pokarna(up 0.34%) and Orissa Minerals Development Company(up 0.26%) were among the top gainers. Ashapura Minechem(down 2.67%), 20 Microns(down 1.81%), KIOCL(down 1.59%), Coal India(down 1.26%), NMDC Ltd(down 1.13%), MOIL(down 0.95%), Aro Granite Industries(down 0.92%), Gujarat Mineral Dvpt Corporation(down 0.71%), Madhav Marbles and Granites(down 0.57%) and Oriental Trimex(down 0.53%) were among the top losers.

On the BSE, Sanmit Infra(down 20.00 per cent), Wagend Infra(down 16.67 per cent), Creative Eye(down 11.63 per cent), Promax Power(down 9.75 per cent) and Shyam Telecom(down 9.70 per cent) were among the stocks that plunged over 5 per cent during the session. In the Nifty pack, 20 stocks traded in the green, while 29 stocks traded in the red.

Shriram Finance Ltd. traded 0.0 per cent at Rs 2046.15 at around 10:50AM (IST) on Friday. The stock had closed at Rs 2046.1 in the previous session.

Nifty is ending the record-breaking year 2023 with a handsome upside of 20%, billionaire banker Uday Kotak on Friday warned Dalal Street's Covid batch of investors of the unpredictability of the stock market, giving the example of Japan. «Many investors have joined post Covid. They have mainly seen upside.