Experts Financial News

Shree Cements Ltd. traded 2.81 per cent up at Rs 27764.15 at 12:38PM (IST) on Monday, even as BSE benchmark Sensex gained 981.22 points to 68462.41. The stock had closed at Rs 27005.65 in the previous session.

ICICI Prudential Life Insurance Company Ltd. traded 0.18 per cent up in Monday's trade at 12:53PM (IST). Around 8,358 shares changed hands on the counter.

BJP retained Madhya Pradesh and wrested Chhattisgarh and Rajasthan from the Congress in the state Assembly elections on Sunday, equity bulls found another reason to celebrate on Monday, with the Sensex zooming over 1,100 points. Both Sensex and Nifty are now at all-time high levels, with bulls gunning for newer peaks ahead of the Lok Sabha elections next year. The landslide victory for Street favourite BJP is not only seen as a validation of a favourable outcome in next year's poll but may also help the ruling party keep populism under check.

PI Industries Ltd. gained 0.86 per cent to Rs 3848.2 in Monday's trade. It hit a high of Rs 3867.45 and low of Rs 3816.0 during the session.

Info Edge (India) Ltd. rose 0.37 per cent to Rs 4589.1 in Monday's trade. It hit an intraday high of Rs 4640.0 and low of Rs 4572.0, respectively, during the day.

BSE share price has jumped more than 360% so far in 2023, giving multibagger returns to investors. The stock surged over 3% to hit a fresh 52-week high of ₹2,595.00 apiece on Monday, extending gains for the seventh straight day. Despite a stellar rally, BSE shares have more than 25% upside potential as the exchange is expected to deliver robust earnings on the back of increasing volumes in equity derivatives, according to brokerage firm Sharekhan.

Marico Ltd. gained 0.35 per cent to Rs 538.9 in Monday's trade as of 12:17PM (IST). It hit a high of Rs 542.7 and low of Rs 537.15 during the session.

SRF Ltd. traded 0.35 per cent up at Rs 2418.7 at around 12:07PM (IST) on Monday. The stock had closed at Rs 2410.3 in the previous session.

Indian Hotels Company Ltd. gained 0.96 per cent to Rs 430.65 in Monday's session as of 12:12PM (IST) even as the equity benchmark Sensex traded 981.9 points higher at 68463.09. Earlier in the day, the stock witnessed a gap up start to the session.

megacap stocks that have been left behind in the 'madcap' rally in recent months. FIIs who had been bothered by the Indian market’s rich valuations and were hoping for a correction to build more substantial positions in the market may see those hopes evaporating, leaving them with the unsavory choice of either staying out of a market that may not correct or may continue to do well or entering the market at current levels despite their reservations about the market’s valuations in general, Kotak Equities said. «We expect some of the FPIs to follow the latter approach, especially as (1) valuations of the mega-cap stocks are still reasonable and (2) FPIs are likely to prefer investment in largecaps; they are unlikely to look at midcaps and smallcaps for both liquidity and valuation reasons,» said Sanjeev Prasad of Kotak. While many investors find Nifty's valuations rich, megacaps have been underperforming other largecaps, midcaps and smallcaps. Global brokerage firm Jefferies said BJP's win in the 3 state elections of MP, Rajasthan, and Chhattisgarh has boosted investor sentiment which should augur well for domestic cyclical sectors like banks, industrial, power, and real estate. «We had recently deployed the cash in our model portfolio, partly on our expectations of BJP's strong performance in state polls. The welfare announcements should help the „Bottom of Pyramid“ (BoP) demand recovery where we prefer Telecom and 2Ws over staples.

Colgate-Palmolive (India) Ltd. gained 0.19 per cent to Rs 2281.35 in Monday's session as of 12:02PM (IST) even as the equity benchmark Sensex traded 967.67 points higher at 68448.86. Earlier in the day, the stock witnessed a gap up start to the session.

Bharatiya Janata Party (BJP) secured victory in three major states on Sunday, boosting the ruling party’s prospects of prevailing in next summer’s general election. Experts believe the market will see a healthy rally in the near term and most sectors will participate in it because of optimism over political stability and India's healthy macro outlook. On the technical front, Axis Securities said if Nifty crosses and sustains above 20,400 level, it would witness buying, leading the index towards 20,500-20,600 levels.

Hero MotoCorp, Bajaj Auto, Eicher Motors (RE) shined after strong November month sales. Hero MotoCorp, Eicher Motors with gains of close to 2% stood amongst key Nifty gainers while Bajaj Auto with gains of close to 1% was also not much behind on a day when Nifty with gains of more than 1.5% scaled new highs.

Lok Sabha elections will get a boost. This augurs well for macro and policy momentum for India, which, at the moment, is seeing the highest growth among major economies, it added. Read here: SBI, M&M to LT: Motilal Oswal recommends 14 stocks to buy after assembly polls "However, a restraining factor will be the valuations which are high and will get stretched further with the rally gaining momentum.

rupee settled at 83.29 against the dollar. “Indian rupee is expected to trade within a small range with a bit of appreciation bias as flows, IPOs, FDIs to continue after a spectacular win for the Prime Minister Narendra Modi in Hindi heartland.

Gold rate today: On account of US Fed rate cut buzz after Jerome Powell's speech, gold price today ascended above $2,100 levels and hit a new life-time high of $2,146 per ounce levels in early morning session in Asian stock market. Gold rate today ascended to a new life-time peak in domestic market as well. Gold future contract for February 2024 expiry on Multi Commodity Exchange (MCX), opened upside and went on to hit new life-time high of ₹64,000 per 10 gm levels.

Inox wind(up 7.59%), ADANIGREEN(up 7.10%), Inox Wind Energy(up 6.58%), NLC India(up 6.16%), Adani Energy Solutions(up 5.14%), Karma Energy(up 4.97%), Adani Power(up 4.94%), Orient Green Power Company(up 3.84%), Kalpataru Projects International(up 3.81%) and Indowind Energy Ltd.(up 3.63%) were among the top gainers. Power & Instrumentation(Gujarat)(down 1.68%) and Alstom T&D India(down 0.80%) were among the top losers.

sector is entering a multi-year upcycle after eight years of underinvestment, and it continues to be our preferred sector in the oil & gas space.

Canara Bank, part of the PSU banking segment, rallied more than 20% in the last 3 months to hit a fresh record high in December 2023 and the chart pattern suggests that the rally may not be over yet. Short-term traders can look to buy the stock for a target of Rs 432 in the next 3-4 weeks, suggest experts. The PSU stock hit a 52-week high of Rs 419 on 1st December 2023. It rose from Rs 328 as on 1st September to Rs 410 recorded on 1st December which translates into an upside of about 25% in the last 3 months. The stock rose more than 5% in a week, and over 7% in a month. The PSU stock bounced back after taking support above 380 levels in the last week of November.

Tata Power Company Ltd. gained 2.3 per cent to Rs 282.1 at 10:45AM (IST) in Monday's trade. The counter hit a high of Rs 286.0 and low of Rs 280.3 so far during the session.

post office FD after 6 months but before 4 years. According to an email clarification by India Post, a 5-year post office FD opened on or after November 10, 2023, cannot be prematurely closed until 4 years have passed from the date of opening of the FD. For FDs opened till November 9, 2023, the earlier rules are applicable for premature withdrawal. These rules are explained subsequently. But for now, let us understand the new rules.