Recommendations Financial News

₹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.

Stock market today: Birlasoft shares are one of the multibagger stocks that Indian stock market has delivered in 2023. In year-to-date (YTD) time, this IT stock has risen from around ₹297.50 to ₹650 apiece levels, delivering around 120 per cent return to its positional investors. However, it seems that Birlasoft stock has still some steam left.

By Scott Murdoch and Lewis Jackson

Angel One share price spiked over 10% to hit a 52-week high on Wednesday after the stock broking company posted an upbeat monthly business update registering a sharp 51% year-on-year (YoY) rise in its client base during November. Angel One shares rallied as much as 10.33% to a fresh 52-week high of ₹3,246.00 apiece on the BSE. In a regulatory filing, Angel One reported a 51.3% YoY increase in its client base at 1.85 crore in November 2023 from 1.22 crore in the same month last year.

Also Read: Bulls celebrate saffron sweep in state assembly elections While state elections do not correlate with Loksabha elections, the recent outcome removes a key overhang of political uncertainty for the markets for the next five months. Analysts at domestic brokerage firm Motilal Oswal said, "The equity markets were justifiably anxious about the outcome of state polls and what it portends for the 2024 general elections.

Sanjiv Bhasin, Director,IIFL Securities, says “maybe the near-term markets are looking stretched, but look for the slightly long term, if we do get a continuation of the present government, then there is no hold barred for the next five years. Plus, crude is at a three-four month low. Bond yields are hitting lows. All set for 2024 to welcome equities in a new space and now there is a left out feeling, which is maximum for the foreign FIIs.” Bhasin further says: “In banks, I would recommend Kotak among largecaps and Bandhan Bank among smallcaps. However, for a retail investor, doing a SIP or buying the Bank Nifty BeES would be an ideal way of participating in a basket of stocks.” Clearly the stage is set for 21K insight. In a market like this, what is the advice for those who have been sitting on the sidelines, waiting for the right entry point? Well, there is no advice. There is just this fact that equity has no timing. It is how much time you spend in the market. Choose your SIPs, choose your mutual fund and try and get in or seek some brokerage firm which can advice you better and the owning of an asset class called equity is the underlying theme which has been why you have seen the amount of SIPs which have been the rock behind the wall and which have counteracted all the FII selling.

Hindustan Zinc surged over 2% to Rs 331.8 in Wednesday's trade on BSE after the company announced a second interim dividend of Rs 6 per share for the current financial year. The dividend outgo amounts to about Rs 2,535.19 crore.

stock market, JTL Industries share price is under sell off pressure. JTL Industries share price today opened with a downside gap and went on to hit intraday low of ₹195 apiece on NSE. But, the stock witnessed buying at lower levels and regained ₹200 levels soon.

JSW Energy stand among top two technical picks by Religare Broking for the week. The brokerage has termed them as Tech stars. The two stock picks are filtered by Brokerage based on momnetum from companies under their coverage Universe.

frauds, as per reports. These websites, as per an official statement, were operated by overseas individuals. Also Read | QR code scams: How to identify and be safe from such tricks The Indian Cybercrime Coordination Centre (I4C), a unit of the Union Home Ministry's vertical National Cybercrime Threat Analytics Unit (NCTAU), identified and recommended the blocking of these websites last week.

rupee settled at 83.37 against the dollar. Investors remained on the sidelines ahead of the Reserve Bank of India’s (RBI) monetary policy decision later this week. “The RBI's policy, commencing on Tuesday with a decision due on Friday, will be closely monitored," CR Forex Advisors MD Amit Pabari said.

Power Grid Corporation of India while scaled 52 week highs on Wednesday, NTPC, Bharat Heavy Electricals Ltd with gains of 26-107% in last six months also are trading near 52-week highs scaled on Tuesday. Others prominet gainers include JSW Energy that with gains of more than 55% in last 6 months. The peak power demand in November remained buoyant.

Hindustan Zinc dividend 2023: Vedanta subsidiary company Hindustan Zinc Limited has declared ₹6 per share interim dividend for the financial year 2023-24. The board of directors of the metal company approved this 300 per cent interim dividend proposal after passing a resolution in its meeting on Wednesday. The company has already fixed dividend record date on 14th December 2023.

Also Read: Stellar rally! Nifty 50 jumps 1,159 points in just 13 sessions Friday's rally has also pushed the market capitalization of the NSE-listed companies to cross the $4 trillion mark for the first time. The positive momentum continued into the following two trading sessions, following the ruling party, BJP's decisive victory in three out of four critical state elections, instilling confidence in political stability for 2024. During Monday and Tuesday's trade, the Nifty 50 surged by 2.07% and 0.81%, and in today's session, it maintained the momentum, reaching a new peak of 20,958.65 points, gaining by 0.50%.

Saudi Arabia has introduced a 96-hour stopover visa for Indians traveling to the West or the Middle East. This initiative, part of the Saudi Vision 2030 to streamline Umrah visits, was announced by Saudi Minister of Hajj and Umrah, Tawfiq bin Fawzan. During a joint press briefing with India's Minister of Minority Affairs Smriti Irani and Minister of State for External Affairs, V Muraleedharan, Minister Tawfiq bin Fawzan emphasized the nation's commitment to facilitating the religious pilgrimage of Muslims globally.

Page Industries Ltd. rose 1.24 per cent to Rs 37266.3 in Wednesday's trade as of 10:20AM (IST) even as the benchmark Nifty ruled at 20912.15, up 57.05 points. The scrip had closed at Rs 36807.75 in the previous session.

Marico Ltd. rose 1.5 per cent to Rs 544.5 in Wednesday's trade as of 10:25AM (IST) even as the benchmark Nifty ruled at 20898.95, up 43.85 points. The scrip had closed at Rs 536.45 in the previous session.

Day trading guide for today: Following buying in frontline stocks on end of rate hike cycle buzz, Indian stock market ended higher for sixth straight session on Tuesday. Participatory rally extended for yet another session on Tuesday, which helped key benchmark indices and broad market indices to hit new life-time high on the previous session. Nifty 50 index climbed to a new peak of 20,864 levels, BSE Sensex touched new life-time high of 69,381 whereas Bank Nifty index hit a new high of 47,230.

Pritika Auto Industries demerger: The National Company Law Tribunal (NCLT) hs granted its approval to the schemd of arrangement between Pritika Industries Limited (PIL) and Pritika Auto Industries Limited (PAIL) for demerger of its automotive, tractor and engineering component business. The Chandigarh bench of the NCLT gave its nodd via order dated 4th December 2023.

bond yields continued to decline. Japanese government bond yields dipped to the lowest since mid-August as U.S. Treasury yields hovered close to a three-month trough. Meanwhile, crude oil sank to a nearly five-month low, while bullion held steady after dropping back from an all-time high.

Global market setup remains positive as Asian markets traded higher while the US shares ended mixed overnight. The equity benchmark indices on Tuesday ended at their record closing highs as market sentiment remained upbeat following strong macro numbers and BJP's victory in the three large states. The Sensex jumped 431.02 points, or 0.63%, to end at 69,296.14, while the Nifty 50 settled 168.30 points, or 0.81%, higher at 20,855.10.