UPS Financial News

Akshay Bhagwat, Senior Vice President — Derivatives Research, JM Financial Services, says for a positional trader, it makes good sense to take a buy position in Reliance now because the risk reward payoff is beneficial from current levels. Assuming that from highly oversold zones, Reliance again makes a comeback, the recovery can see a rally till Rs 2,900. Bhagwat recommends that if one has a buy position, keep a stop loss below 2700. As a trading bet, it is a very strong setup considering the risk reward payoff. One can consider buying Reliance for targets of around Rs 2,850, — the first target. Rs 2900 will be the second target with a strict stop loss below Rs 2,700. Bhagwat also says the Paytm stock can be a Hold or Buy. The upside can be Rs 950 to 1000 in the short to medium term scenario. What is your market prognosis right now? Have we formed a bottom and are we likely to move upwards from here on or it is still too early to call a bottom right now? Akshay Bhagwat: Markets have shown some tendency of recovery from the levels of 24,800 basis spot Nifty. The good part in today's session is that your volatility index has cooled down a bit 2.5%, so it is in the process of forming a possible bottom. It is just day one today after five days of losing around 1,400 points from the life highs and it is an attempt which the market is making on the back of the RBI event where some short positions in the derivative space are getting covered up.

Modi stocks – a reference to those related to the government-led capex cycle –bounced back up to 8% in Tuesday's session after BJP was seen heading towards a hattrick victory in Haryana elections, with a simple majority on its own. PSU stocks, especially those belonging to railways and defence, were among the top gainers in today's trading session. PSU stock RVNL rallied over 8%, HUDCO was up 7% while PFC, REC, IRCON, HAL, BEL, Mazagon Dock and Cochin Shipyard rallied in between 4-6% each.

«But if you look at 21, 22, 23, if you look at the returns, they really have not as a class outperformed the markets. In fact, I would suggest that they have underperformed markets meaningfully, even if the companies are giving you a return,» says Rahul Bhasin, Baring Private Equity Partners. Do you think the class of 2024 IPOs is different from the class of 2021 wherein there was the frenzy, there were the fancied names, but there was also no path to profitability? Do you think first things first, we need to make that disconnect? Rahul Bhasin: Look, I will break that up into two parts. I mean, one part is the fact that mostly IPO markets give very good returns for investors when there has been a drought of IPOs for an extended period of time and so when you are talking about 21, there probably been a lull in the IPO market for almost a decade before that and virtually IPOs had dried up and then when you start seeing IPOs, usually it is in the first year after a drought that you usually get higher quality companies.

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Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...

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Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

Godrej Consumer Products Ltd. traded 1.31 per cent lower in Tuesday's session at 01:54PM (IST). The stock opened at Rs 1320.1 and has touched an intraday high and low of Rs 1340.85 and Rs 1305.2, respectively, during the session so far. The stock quoted a 52-week high of Rs 1541.3 and a 52-week low of 959.55. About 10,978 shares changed hands on the counter so far.

Vedanta Ltd. traded 0.42 per cent lower in Tuesday's session at 01:48PM (IST). The stock opened at Rs 499.0 and has touched an intraday high and low of Rs 503.75 and Rs 484.4, respectively, during the session so far. The stock quoted a 52-week high of Rs 523.6 and a 52-week low of 211.25. About 453,037 shares changed hands on the counter so far.

Colgate-Palmolive (India) Ltd. gained 0.75 per cent to Rs 3721.35 in Tuesday's trade as of 01:33PM (IST). The stock hit a high price of Rs 3721.35 and low of Rs 3675.0 during the session. The return on equity (ROE) for the stock stood at 70.54 per cent. Traded volume on the counter stood at 01:33PM shares and turnover at Rs 0.49 crore around that time. The stock of Colgate-Palmolive (India) Ltd. quoted a 52-week high price of Rs 3893.0 and 52-week low prices of Rs 1969.4, respectively.

InterGlobe Aviation Ltd. gained 1.6 per cent to Rs 4552.9 in Tuesday's trade as of 01:44PM (IST). The stock hit a high price of Rs 4565.8 and low of Rs 4429.4 during the session. The return on equity (ROE) for the stock stood at 409.35 per cent. Traded volume on the counter stood at 01:44PM shares and turnover at Rs 4.12 crore around that time. The stock of InterGlobe Aviation Ltd. quoted a 52-week high price of Rs 5033.2 and 52-week low prices of Rs 2389.35, respectively.

ICICI Lombard General Insurance Company Ltd. traded 0.79 per cent down at Rs 2078.35 on Tuesday at around 01:29PM (IST), while the benchmark BSE Sensex advanced 440.15 points to 81490.15. As many as 3,572 shares changed hands on the counter with a total value of Rs 0.75 crore.

Avenue Supermarts Ltd. slipped 0.1 per cent to Rs 4535.7 in Tuesday's trade as of 01:13PM (IST). The stock hit a high price of Rs 4614.35 and low of Rs 4485.0 during the session.

Ashish Kacholia has acquired 497,000 shares of SME firm V-Marc India through a preferential allotment. This acquisition follows a shareholders meeting on September 12, 2024, where shareholders approved the issuance of equity shares on a preferential basis.

MphasiS Ltd. rose 0.44 per cent to Rs 2888.15 in Tuesday's trade as of 01:19PM (IST) even as the benchmark Nifty ruled at 24964.05, up 168.3 points. The scrip had closed at Rs 2875.45 in the previous session. The stock quoted a 52-week low of Rs 2068.45 and a high of Rs 3186.95. The company quoted a market-cap of Rs 54531.44 crore on the BSE.

Zheng Shanjie, chairman of China's National Development and Reform Commission, on Tuesday pledged a raft of actions to bolster the country's economy during a highly-anticipated press conference.