Trade Financial News

Mergers and acquisitions (M&A) financing activities in the cryptocurrency sector through the first quarter of 2024 are up 22% compared to the previous quarter, according to a research note from Architect Partners.

Breakout stocks: Amid Bank nifty index rising for the four straight sessions, four banking stocks listed in the index have given breakouts either on a closing basis or daily. According to stock market experts, those four breakout stocks listed in the Bank Nifty index are HDFC Bank, Kotak Mahindra Bank, ICICI Bank, and IndusInd Bank. They said that the market has taken an interest rate cut cue from the RBI monetary policy as the RBI Monetary Policy Committee is waiting for the US Fed to initiate a rate cut.

Also Read: Sun TV Network, Prima Plastics, among shares to trade ex-dividend today Electrosteel Castings is a market leader in India, with a 20% market share in the domestic DI pipe industry (in volume terms). It was the first company to introduce DI pipe products to the domestic market in 1994. The company stands as a major beneficiary of governmental initiatives such as the Jal Jeevan Mission and AMRUT 2.0, emphasising water projects.

₹44.39 crore from the fixed-price IPO and its shares are set to be listed on the NSE Emerge. Also Read: Bharti Hexacom IPO allotment to be finalised today; latest GMP, step-by-step guide to check status Let us check Teerth Gopicon IPO GMP, subscription status and other key details: Teerth Gopicon IPO has been subscribed 1.09 times so far on Monday, the first day of the bidding process. The public issue received bids for 41.24 lakh equity shares as compared to the offer size of 37.99 lakh shares, as per data available till 2:20 pm.

United Spirits Ltd. traded 0.81 per cent up at Rs 1137.0 at around 01:29PM (IST) on Monday. The stock had closed at Rs 1127.8 in the previous session. Equity benchmark Sensex traded 445.46 points higher at 74693.68 around the same time.

PI Industries Ltd. gained 0.87 per cent to Rs 3905.5 in Monday's trade. It hit a high of Rs 3925.0 and low of Rs 3837.5 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 3602.49, while the 50-DMA was at Rs 3614.73. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

European Central Bank policy decision later in the week. The continent-wide STOXX 600 index was trading flat by 0713 GMT on Monday.

Colgate-Palmolive (India) Ltd. dropped 1.27 per cent to Rs 2694.9 at 01:39PM (IST) in Monday's trade. The counter hit a high of Rs 2744.0 and low of Rs 2685.0 so far during the session. The stock had closed at Rs 2729.75 in the previous session. The counter had a total traded volume of 01:39PM shares so far with a turnover of Rs 1.71 crore on BSE. The stock traded at a price-to-earnings multiple of 58.29 and a price-to-book ratio of 23.88.

Aditya Arora, Adlytick, says he would like to go with Reliance. It is doing well after a long time. So, Reliance could be bought at Rs 2970. Rs 2900 is the stop loss and Rs 3070 is the target. The second one is Cipla from the pharma space. This could be bought at Rs 1471, Rs 1430 is the stop loss and Rs 1540 is the target. Today, Nifty seems to have comfortably crossed the 22,500 mark that it has been holding on for quite a long time. Do you expect this up move or Nifty to now comfortably stay above the 22,500 levels? Aditya Arora: The participation is good from the Reliance end, but auto is also doing well. However, other heavyweights are not participating. I would calculate the decisive breakout would come above 22,800 in Nifty futures and decisive breakout in Bank Nifty would come above 49,200. I would be bullish once these levels are crossed and sustained.

ACC Ltd. gained 0.76 per cent to Rs 2594.55 at 12:58PM (IST) in Monday's trade. The counter has hit a high of Rs 2612.5 and low of Rs 2550.45 so far during the session. The stock had closed at Rs 2574.9 in the previous session. The counter has had a total traded volume of 3274 shares so far with a value of Rs 0.85 crore on the NSE. It traded at a price-to-earnings multiple of 29.96 and a price-to-book ratio of 2.22.

Voltas surged 13% on Monday to hit their 52-week high of Rs 1,392 on the NSE after the Tata company reported landmark sales of 20 lakh units of air conditioners in FY 2023-24. In a filing to the exchanges on Sunday, the company claimed to have become the first ever brand to achieve this milestone in the history of the air conditioning industry in India.

Tata Elxsi Ltd. traded 0.21 per cent lower in Monday's session at 12:48PM (IST). The stock opened at Rs 8144.95 and has touched an intraday high and low of Rs 8144.95 and Rs 7975.15, respectively, during the session so far. The stock quoted a 52-week high of Rs 9191.1 and a 52-week low of 6023.3. About 8,804 shares changed hands on the counter so far.

Ashok Leyland Ltd. traded 0.79 per cent higher in Monday's session at 12:43PM (IST). The stock opened at Rs 176.95 and has touched an intraday high and low of Rs 178.1 and Rs 175.55, respectively, during the session so far. The stock quoted a 52-week high of Rs 191.45 and a 52-week low of 135.2. About 1,173,348 shares changed hands on the counter so far.

BEIJING — U.S. Treasury Secretary Janet Yellen said Monday that future discussions between the U.S. and China will focus on Beijing's need to shift its policy on industry and the economy.

Index funds outperform the majority of active fund managers. How many times have we read this headline! By now, even the most rookie investor understands that active managers who run a high expense ratio face an uphill battle in beating their benchmark indices on a net return basis. India’s growth story has been much talked about and has captivated the investing community for several years.

Stock market holiday: As the entire nation is gearing up to celebrate Gudi Padwa 2024 on 9th April 2024, the Indian stock market investors might get confused about whether the activity on NSE and BSE will take place tomorrow or not. To know the official answer to this question, stock market investors and observers are advised to look at the full list of Indian stock market holidays 2024. As per the stock market holidays 2024, which is available on the official website of BSE — www.bseindia.com.

₹400 lakh crore for the first time during today's trading session. This achievement comes amid a sustained rally in the large, mid and small-cap stocks, extending for the third consecutive session, with heavyweight stocks playing a major role in driving the surge. The market sentiment has been bolstered by positive financial updates from numerous companies, setting an optimistic tone ahead of the upcoming earnings season.

Siemens Ltd. traded at Rs 5707.1 on BSE at 11:06AM (IST) on Monday, up 1.24 per cent from previous close. The stock quoted a 52-week low price of Rs 3240.0 and a high of Rs 5772.6.

Godrej Properties Ltd.(up 6.7 per cent), Macrotech Developers Ltd.(up 2.96 per cent), Phoenix Mills Ltd.(up 2.68 per cent), DLF Ltd.(up 1.74 per cent) and Mahindra Lifespace Developers Ltd.(up 1.73 per cent) were among the top gainers.

The uptick was on account of slippages in the dollar index (DXY) which was hovering near the 104.25 mark, down by 0.05 or 0.04%. It has declined 0.73% over the last five trading sessions.

Gland Pharma Ltd.(up 4.74 per cent), Glenmark Pharmaceuticals Ltd.(up 2.42 per cent), Torrent Pharmaceuticals Ltd.(up 1.57 per cent), GlaxoSmithKline Pharmaceuticals Ltd.(up 1.32 per cent) and Cipla Ltd.(up 1.08 per cent) were among the top gainers.