Week Financial News

Nifty Midcap stocks to new 52-week highs on August 24 reflects strong market optimism and growth potential across various sectors. This surge in stocks, including Shriram Finance, Mphasis, and Bharat Forge signifies the resilience and potential for growth within these companies. The data was sourced from StockEdge at 2.20 p.m., and the updates from the real-time data could come with a lag. The below data also pertains only to the time at which it was taken.1. APL Apollo TubesAPL Apollo Tubes achieved a noteworthy feat by hitting a new 52-week high of Rs 1663.9 on August 24.

Multibagger stock: UY Fincorp shares are one of the multibagger stocks that Dalal Street has delivered in 2023. This small-cap stock below ₹50 has surged from around ₹12.25 to ₹30.70 apiece levels in year-to-date (YTD) time, delivering to the tune of 140 per cent return to its positional shareholders in YTD time. However, it seems that small-cap stock still has some steam left.

In the international markets, Spot gold rose 0.3% to $1,920.60 per ounce after hitting its highest level since August 10. US gold futures were flat at $1,948.70. However, the October gold futures were trading at Rs 58,790 per 10 grams on the MCX at 10.26 a.m.

Paytm (One 97 Communications) share price rose almost 3 per cent to hit its fresh 52-week high of ₹931 in morning trade on BSE on Thursday. The stock opened at ₹925.05 against the previous close of ₹905.60 and soon rose 2.80 per cent to hit its 52-week high of ₹931. However, the stock cooled off slightly and around 10:35 am, it was up 2.24 per cent at ₹925.85.

₹841.80 apiece on the BSE amid euphoria over aerospace and defense stocks after the success of India’s moon mission Chandrayaan 3. Paras Defence share price has surged more than 61% in the last three months and nearly 34% YTD. The stock is up over 28% in the last one year.

Tata Power has rallied over 10% in a month and is inching closer to hitting fresh 52-week highs. Short-term traders can look to accumulate the stock for a possible target of Rs 280 in 2-4 months, suggested experts.The stock ended its 13-years of correction price action in 2021, when it broke above Rs 160 levels.

The cryptocurrency market has experienced a notable downturn recently, with the total market capitalization falling by 10% between Aug. 14 and Aug. 23, reaching its lowest point in over two months at $1.04 trillion. This movement has triggered significant liquidations on futures contracts, the most since the FTX collapse in November 2022. 

The Federal Reserve may send financial markets a hawkish message when global central bankers meet at the Jackson Hole Economic Symposium this week.

Domestic benchmark index NSE Nifty ended 47.55 points up at 19444.0, while the BSE Sensex closed 213.27 points up at 65433.3. On the other hand, VELS Film Internatio, Atul Auto, Sakar Healthcare, NGL Fine Chem and Centum Elec stocks hit their fresh 52-week highs today. In the Nifty 50 index, Hindalco, Axis Bank, ICICI Bank, SBI and L&T were among the top gainers on the NSE in the today's trade. Meanwhile, Adani Ent., Adani Ports SEZ, Sun Pharma, Bharti Airtel and Tata Motors were among the top losers of the day.

Hindustan Aeronautics (HAL) share price rose 3.5% to hit a new 52-week high on Wednesday's session as HAL manufactured Vikram lander, part of Chandrayaan-3 spacecraft is expected to land on the moon today. Hindustan Aeronautics' stock has risen for the past three sessions in a row, gaining 6%. HAL share price today opened at ₹3,914.95 apiece on BSE, and touched intraday high at ₹4,034 and low at ₹3,899.

Nifty Smallcap stocks to new 52-week highs on August 23 reflects strong market optimism and growth potential across various sectors. This surge in stocks, including Suzlon Energy, Finolex Industries, and BEML, signifies the resilience and potential for growth within these companies. The data was sourced from StockEdge at 1.15 pm, and the updates from the real-time data could come with a lag. The below data also pertains only to the time at which it was taken.1. Suzlon Energy Suzlon Energy achieved an impressive new 52-week high of Rs 21.85.

BEML jumped nearly 5% and hit a new 52-week high of Rs 2,184 in Wednesday's trade on BSE after the company bagged an order worth Rs 101 crore from the Ministry of Defence. «We hereby inform that BEML Limited has bagged an order from the Ministry of Defence (Army) for the supply of Command Post Vehicles with a contract value of Rs 101 crores approximately,» the company said in an exchange filing on Tuesday. Earlier on August 7, BEML also secured the Letter of Acceptance from Bangalore Metro Rail Corporation (BMRC) for the supply of Rolling stock contract 5RS-DM valued at approximately Rs 3,177 crores. At 10.14 am, the stock was trading 3% higher at Rs 2,142 on BSE. On a year-to-date basis, the stock has surged over 40%, while it has risen nearly 60% in the past six months. In Q1 FY24, the company's net loss narrowed to Rs 75 crore from Rs 82 crore in the same quarter last fiscal.

Benchmark NSE Nifty index rose 31.4 points to 19427.85 amid buying in frontline bluechip stocks. However, stocks such as Jio Financial Servic, Penta Gold, Allcargo Terminals, Rachana Infrastructu and Yasons Chemex Care, touched their fresh 52-week low. Overall, 28 shares traded in the green in Nifty50 index, while 21 traded in the red. In the Nifty 50 index, Hindalco, Divis Labs, Axis Bank, L&T and Tata Steel were among top gainers, while Sun Pharma, Adani Ent., ITC, Adani Ports SEZ and Tata Motors traded in the red. The BSE Sensex was trading 98.78 points up at 65318.81 at 11:26AM(IST). Traders were seen piling up positions in Telecommunications, Trading, Infrastructure, Paper and Aquaculture sectors, while selling was visible in Banks, Petrochemicals, Building Materials, Irrigation & Allied Services and Agriculture/Horticulture/Livestock sectors.

Max Financial Services (MFSL), a prominent name in the financial services industry, has risen over 30% in the last 3 months pushing the stock to a fresh 52-week high in August.Short- to medium-term traders can look to buy the stock on the decline for a potential target of Rs 1000 in 4-6 months, suggested experts.The momentum also helped the stock break out from a bullish Flag pattern on the weekly charts, which has opened room for the stock to

MUMBAI : Omnichannel pharmacy chain PharmEasy will raise ₹3,500 crore through a rights issue next week, multiple people aware of the development said, helping it repay a big chunk of its loans to Goldman Sachs. Temasek Holdings, TPG, Prosus, CDPQ, Eight Roads, LGT, Abu Dhabi sovereign wealth fund ADQ, Amansa, OrbiMed and Sunil Kant Munjal’s family office have already committed to invest as much as ₹2,000 crore, one of the people cited above said. Manipal Health Enterprises founder Ranjan Pai’s family office may invest ₹1,200 crore.

Investing.com — President Jerome Powell is set to potentially deliver fresh clues on monetary policy later this week, but while many aren’t expecting the Fed chief's remarks to be laced with the warning of the “pain” from last year,  there are worries that he may tee up the idea of steeper longer-term interest rates.   

Bharat Heavy Electricals Ltd (BHEL) share price jumped nearly 12% to touch a new 52-week high on Tuesday's trading session after the company bagged order worth ₹4,000 crore from Mahan Energen Ltd, a wholly owned subsidiary of Adani Power Ltd. Bharat Heavy Electricals share price closed 9.76% higher at ₹110.80 apiece on NSE. According to company's exchange filing, Mahan Energen Ltd was formerly known as Essar Power MP Ltd.

Benchmark NSE Nifty closed 2.85 points up at 19396.45 amid buying in frontline bluechip counters. However, stocks such as Omaxe, Steel Exchange, Allcargo Terminals, Penta Gold and Jio Financial Servic, touched their fresh 52-week lows. Overall, 28 shares ended in the green in Nifty50 index, while 22 closed in the red. In the Nifty 50 index, Adani Ent., HDFC Life, ITC, NTPC and Hero MotoCorp were among top gainers during the day, while BPCL, Cipla, Bajaj Finserv, Eicher Motors and TCS ended in the red. The BSE Sensex closed 3.94 points up at 65220.03. Traders piled up positions in Telecommunications, Aquaculture, Industrial Equipment, Textiles and Infrastructure sectors, while selling was witnessed in Banks, Building Materials, Irrigation & Allied Services, Metals — Ferrous and Leather sectors during the day.

BEIJING — U.S. Secretary of Commerce Gina Raimondo is set to visit China from Aug. 27 to 30, both countries announced Tuesday.

Celebrating the 25th Anniversary of the Investment Company Awards

₹370-380. Eveready share price today opened at ₹382 on NSE. Eveready Industries share price touched intraday high at ₹418.30 and low at ₹380 on Tuesday's session.