Recommendations Financial News

Paytm parent One 97 Communications has announced a partnership with travel technology company Amadeus to offer users an “efficient booking experience”. Through this collaboration, the company will integrate Amadeus's travel platform to offer ticket booking and payment options to users. “Paytm will deliver hyper-personalised recommendations and dynamic pricing to its users, powered by Amadeus. With Amadeus APIs, Paytm users will gain access to a vast inventory of global flight options, making it easier for users to find the best deals and book flights, all within the Paytm app,” the company said in a statement.

International Cricket Council defended a late switch of the pitch used for the semifinal match between host India and New Zealand at the Cricket World Cup on Wednesday. The governing body had prepared the No. 7 pitch for the match at the Wankhede stadium but it was changed to No.

Relative Strength Index (RSI) emerges as a vital compass, offering insights into the momentum and strength of a stock's price movement. The Relative Strength Index (RSI) is a momentum oscillator that gauges the magnitude and velocity of recent price changes. Oscillating between 0 and 100, RSI helps identify overbought or oversold conditions, offering investors a lens into potential reversals or continuations in stock prices. Overbought and Oversold Conditions: RSI above 70 indicates overbought conditions, suggesting a potential pullback, while RSI below 30 signals oversold conditions, hinting at a possible upward correction. Spotlight on Downtrending RSI: ETMarkets' Selections On November 13, Monday, StockEdge revealed a sea of stocks witnessing a downtrend in RSI, signaling potential shifts in their momentum.

Relative Strength Index (RSI), a powerful tool offering insights into the strength and direction of a stock's price movements. The Relative Strength Index, commonly known as RSI, is a momentum oscillator that measures the speed and change of price movements. It is used to identify overbought or oversold conditions in a stock, providing investors with valuable signals for potential trend reversals. RSI readings above 70 indicate that a stock may be overbought, suggesting a potential reversal or pullback.

ASK Automotive shares should do it from a medium-to-long-term perspective, a couple of analysts recommended. The stock made a modest debut on the exchanges at a premium of nearly 8% today.

Rohit Srivastava, Founder, Indiacharts.com, says “I do not think we will dip and fill the gap much. In fact, we may see a continuation of this move higher. You will have to selectively look at where you can come in with fresh trades as more and more stocks start to participate. We have not really seen the entire market participate in this move. Which is why there will be many opportunities in individual names to pick on even though the index may appear to have already moved up a bit, we are probably not done with this move.” After this gap up opening, should one buy the momentum or should one wait to fill the gap and then look at buying more positions as far as Nifty and Nifty Bank go? In bullish markets, sometimes the gaps do not get filled, at least not immediately till the next cycle of correction comes in. I am not so sure whether this gap will get filled. I know what happened in the early part of this week, especially over the Diwali weekend as we gapped up on Diwali Day, the firecrackers went off and then the next day, a lot of the gains were given back.

Japan, one of the last countries to re-open its borders, became the fastest-growing destination for Millennial and Gen-Z travelers in 2023, according to data from American Express. Bookings were up more than 1,300% compared with the “normal” pre-pandemic year of 2019, the company said. The data comes alongside American Express’ annual trending destination list released Tuesday, which suggests places to go for 2024 based on card members’ bookings and Amex Travel consultants’ recommendations.

Multibagger stock: Sigachi Industries shares are one of those stocks that might delivere multibagger return in YTD. This pharma stock has surged to the tune of 96 per cent in 2023 and looking all set to double positional investors' money in YTD. However, before it could double shareholders' money, it has climbed to a new 52-week high of ₹55.85 per share levels on NSE.

Shyam Metalics and Energy (SMEL), a leading integrated metal producer with an unchanged target price of ₹690 apiece, indicating an upside of 45%. Despite the company's Q2FY24 EBITDA falling short of its estimates, the brokerage expects a ramp-up of DRI-IF route capacity, the recent uptick in prices, and the commencement of stainless-steel capacity at Mittal Corp to aid the company's EBITDA in H2FY24. The brokerage highlighted that the company has a net debt/EBITDA of 0.74x, the best among peers.

Karoon Energy is raising around $US300 million ($460 million) via Macquarie Capital, to fund the purchase of assets in the Gulf of Mexico from the privately held LLOG Exploration Company.

InterGlobe Aviation Ltd. traded 0.48 per cent up at Rs 2551.85 at 12:38PM (IST) on Wednesday, even as BSE benchmark Sensex gained 601.82 points to 65535.69. The scrip had settled at Rs 2539.65 in the previous session.

Manappuram Finance, an NBFC firm, rallied sharply in Wednesday's trading session as investors reacted positively to the company's Q2FY24 performance. The company on Monday reported a 37% YoY jump in its consolidated net profit at ₹560.65 crore. In the corresponding quarter of last year, the company recorded a net profit of ₹409.5 crore.

SRF and Aarti Industries have seen 11-18 % rise in their share prices since their October Lows. The outlook for the specialty chemical manufacturers is improving and they are expected to have seen earnings to have bottomed out. The weak demand from developed markets led to increased concerns about specialty chemical manufacturers during the first half of FY24.

Stock market today: Shares of ASK Automotive Limited listed on BSE and NSE in special pre-open session at around 7.5 per cent premium during Wednesday deals. However, the auto stock didn't end after positive listing. ASK Automotive share price went up further and went on to hit intraday high of ₹311.75 per share on BSE and ₹312 apiece on NSE respectively.

Indian stock market made an all-time high back in September 2023, when the Nifty crossed 20,000, investors and traders alike have been hopeful of a new bull market. Unfortunately, their hopes have not borne fruit yet. The Indian benchmark indices have been rangebound for quite some time now.

ASK Automotive listed at a premium of 8% on the exchanges on Wednesday. The stock debuted at Rs Rs 304.9 on BSE, up 8.1% over the IPO price of Rs 282.

UBS Group AG. Stocks in China have currently priced in “lots of negatives,” making them poised for a sharp rebound when catalysts arrive, said Sunil Tirumalai, UBS’ global emerging market strategist. Meanwhile, earnings-based valuations for Indian shares are already at “fairly extreme levels.” Additional stimulus measures from Beijing and improving geopolitical relations can provide “positive sustained market reaction” for China, he said in an interview last week.

As we observe Children’s Day today, many parents continue to be concerned about their children’s financials. Ensuring financial security is a paramount objective for parents. They aim to guarantee that their children possess the necessary financial means to fulfill basic requirements like food, shelter, clothing, and healthcare, while also supporting their pursuit of goals and aspirations.

Alphabet CEO Sundar Pichai acknowledged in federal court on Tuesday that he sometimes marked documents as «privileged» and never turned off a setting that caused internal chats to delete automatically after one day. Pichai was in court in San Francisco to defend Alphabet's Google from a lawsuit by Epic Games that alleges its app store policies amount to an illegal monopoly and have caused consumers to pay artificially high prices.

Indiabulls Housing Finance and an overweight rating on Grasim. BNP Paribas has a buy rating on Ashok Leyland and M&M. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Morgan Stanley on Indiabulls Housing: Buy| Target Rs 103 Morgan Stanley maintained a buy rating on Indiabulls Housing with a target price of Rs 103.

City Union Bank Ltd, part of the private sector banking space, has fallen by about 30% from December 2022 highs but the stock gave a breakout from a channel pattern last week which has opened room for the stock to head higher. As long as the stock stays above 136-140, bulls will be able to make a comeback, suggest experts. If the momentum continues, the short-term target is placed around 160, they say. The private sector bank hit a 52-week high of Rs 204.95 on 15th December 2022, but it failed to hold on to the momentum.