Experts Financial News

Multibagger IPO: Shares of Gandhar Oil Refinery Ltd listed on Indian bourses at bumper premium during special pre-open session on Thursday. Gandhar Oil IPO listed on NSE at ₹298 per share levels, delivering to the tune of 76 per cent premium against upper price band of ₹169 apiece.

Ashwini Agarwal, Founder, Demeter Advisors, says the market is kind of ignoring the elections which is always a very dangerous thing to do. You may be right that the market is kind of discounting a good outcome for the BJP and that may or may not happen. So, yes, that is an issue. But, having said that, even if there is a little bit of a shakeup, history tells us that state elections and central elections are very different things and so to extrapolate what happens at the state level as an outcome for the general elections in the middle of next year might be a mistake.” So far so good. A party which started just before Diwali, looks like it still has got some more legs left. I agree with you. The party looks likely to continue for the simple reason that market has been climbing a wall of worry and if we turn the clock back a couple of months, the worry was on the interest rate environment, on inflation and slower growth and suddenly the narrative seems to have changed that inflation is moderating, interest rates have come off in the US if 10-year government bond yields are to be observed.

Pidilite Industries Ltd. traded at Rs 2530.95 on BSE at 12:53PM (IST) on Thursday, up 1.07 per cent from previous close. The stock quoted a 52-week low price of Rs 2250.85 and a high of Rs 2796.15.

In Thursday’s trading session, the following five stocks witnessed a build of fresh long positions. Lets first understand how this conclusion is reached that whether the stock has seen a buildup of fresh long position or not.

ONGC) and Oil India are expected to ride on a multi-year upcycle with oil prices remaining elevated at levels between $80 and $100 per BBL for much of CY24, Motilal Oswal said in a note as it picked these stocks as its preferred buys in the energy space. A resilient demand growth amid sufficient new supply will keep the crude oil prices firm, the Motilal Oswal report said while conceding supply delays are not ruled out.

Page Industries Ltd. fell 0.26 per cent to Rs 37248.15 in Thursday's session as of 12:32PM (IST) even as the equity benchmark Sensex traded 209.98 points lower at 66691.93. Earlier in the day, the stock witnessed a gap up start to the session.

Indian Hotels Company Ltd. rose 0.36 per cent to Rs 422.0 at 12:38PM hours (IST) on Thursday. Earlier in the day, the stock saw a start to the session.

Tata Motors. Tata Technologies shares got listed at ₹1,200 apiece on NSE, a premium of 140% to the issue price of ₹500 per share. This was the best listing in the Indian stock market since November 2021.

₹4,687 crore in November so far. State election outcomes, interest rate trajectory in the US, and geopolitical issues are some of the key factors that will move the market in December. "Favourable outcome of state elections, reinforcement of the belief that the top of rate hike cycle is behind us globally and any favourable development in the two geopolitical conflicts are some factors that can take the Nifty higher in December," said Deepak Jasani, Head Retail Research, HDFC Securities.

₹1400 apiece levels on NSE, delivering 180 per cent listing premium to those allottees who remained invested in the stock despite stellar listing gain from the multibagger IPO. According to stock market experts, demand for Tata Technologies share price is still intact as it has registered arond 3.3 crore trade volume within an hour of listing on NSE.

L&T Technology Services Ltd.(up 2.36 per cent), Coforge Ltd.(up 0.7 per cent), Wipro Ltd.(up 0.65 per cent), MphasiS Ltd.(up 0.47 per cent) and HCL Technologies Ltd.(up 0.36 per cent) were among the top gainers. Tata Consultancy Services Ltd.(down 0.3 per cent), Infosys Ltd.(down 0.13 per cent) and Persistent Systems Ltd.(down 0.08 per cent) were the top losers on the index.

The company, which provides engineering and technology services to auto, aero and heavy machinery makers, surged past its initial public offer (IPO) price of Rs 500 to debut at Rs 1,200. The stock scaled as high as Rs 1,400.

JSW Steel with a target price of Rs 903. The current market price of JSW Steel Ltd.

Gold Bond investors, who had made the right decision eight years ago, are elated as the safe haven has ended up delivering a solid tax-free return of 128% besides an annual 2.5% interest. But equity bulls betting on a gold jeweller, with over 844 branches at last count, have managed to outshine even the yellow metal with a fascinating 801% return. No points for guessing that the stock we are talking about is Titan, which runs four jewellery brands — Tanishq, Mia, Zoya and Caratlane.

Aster DM Healthcare with a target price of Rs 430. The current market price of Aster DM Healthcare is Rs 388.6. Aster DM Healthcare Ltd., incorporated in the year 2008, is a Mid Cap company (having a market cap of Rs 19575.92 Crore) operating in Hospitals & Allied Services sector.

Lupin Ltd. traded 0.87 per cent higher in Thursday's session at 10:50AM (IST). The stock opened at Rs 1250.0 and has touched an intraday high and low of Rs 1266.95 and Rs 1250.0, respectively, during the session so far.

Shree Cements Ltd. rose 0.56 per cent to Rs 26235.6 in Thursday's trade as of 10:45AM (IST) even as the benchmark Nifty ruled at 20102.5, up 5.9 points. The scrip had closed at Rs 26088.3 in the previous session.

The NSE Nifty index was trading 9.0 points down at 20087.6, while BSE Sensex was down 79.7 points at 66822.21 at the time of writing this report. In the Nifty index, Hero MotoCorp Ltd.(up 2.48 per cent), SBI Life Insurance Company Ltd.(up 1.92 per cent), Eicher Motors Ltd.(up 1.83 per cent), Apollo Hospitals Enterprise Ltd.(up 1.59 per cent) and Tata Consumer Products Ltd.(up 1.41 per cent) were among the top gainers.

Nifty 50 reclaiming the psychological 20,000 levels, silver price rally outshined 50-stock index in the month of November. In November till date, silver price has rallied to the tune of 6 per cent in domestic market whereas in international market, the precious white metal has risen more than 9 per cent, a return which is much higher than public providend fund (PPF) or bank fixed deposit (FD) returns.

Arvind Fashions share price has been on a roll in November so far. Arvind Fashions share price has surged almost 35 per cent in November so far while the Sensex has gained nearly 5 per cent. Year-to-date, Arvind Fashions share price is up over 24 per cent while the Sensex has gained about 10 per cent.

PVR-Inox multiplexes after a muted start to the third quarter of FY24. Along with strong December occupancy, a gradual recovery in ad revenue and ramp up in margin-accretive segment would drive operating income of the company, analysts said. Nuvama Institutional Equities has reiterated a ‘Buy’ rating on PVR-Inox shares with a target price of ₹2,210 apiece, implying an upside of 30% from Wednesday’s closing price.