Intensify Research Pvt. Ltd.

Investors searched for a sense of direction after US markets failed to provide cues Global markets today: Global investors are eyeing US earnings reports, with Goldman Sachs issuing disappointing results as its showed traders failed to capitalise on Wall Street’s fixed-income boom, contributing to firmwide revenue that trailed estimates. Bank of America Corp rose after profit beat expectations. Investors are also keeping an eye on the results of regional US banks after three collapsed last month as lenders face pressure from rising interest rates. Meanwhile, the Indian stock market oscillated in a narrow range and ended marginally lower, in continuation of Monday's decline. We are seeing reactions largely based on earnings, in absence of any major event. Banking and financials hold considerable weight in the benchmark and their resilience indicates further room for upside," said Ajit Mishra, VP - Technical Research, Religare Broking. US stock market Wall Street stocks finishe...

Gold rate today has immediate support placed at $1,980 levels in international market and in domestic market its immediate support is placed at ₹59,700 levels, say experts Gold rate today: Despite US dollar continued to attract buying interest of currency market bulls, gold price today sustained above $2,000 per ounce levels in international market that triggered bottom fishing in Indian markets as well. Gold future contract on Multi Commodity Exchange (MCX) for June 2023 opened higher and went on to high intraday high of ₹60,404 per 10 gm within few minutes of commodity market opening. In international market, gold price bounced back immediately after hitting intraday low of $1,995.51 levels and climbed to intraday high of $2,006.24 levels. According to commodity market experts, despite strength in US dollar on Monday deals, the American currency continues to remain a 'sell on rise' asset and Dollar Index may soon breach its immediate support placed at 100 levels. They said ...

For Wednesday, Ganesh Dongre, Senior Manager - Technical Research at Anand Rathi expects Nifty to find support at 17300/17350 with resistance between 18050/18100. While the Bank Nifty index is seen to have support in the range of 40300/40500 with resistance at 41500/41600. Markets have been on a rising spree for seven consecutive days now. Sensex has crossed its psychological mark of 60,150, while the Nifty 50 almost neared 17,750 levels. On Wednesday, market sentiments will be driven by CPI inflation and factory output data. Also, global trends will add to the mood. Investors will also bet amidst the onset of Q4 earnings season with TCS being scheduled to be released later in the day. On Tuesday, Sensex closed at 60,157.72 up by 311.21 points or 0.52%. Nifty 50 jumped by 98.25 points or 0.56% to end at 17,722.30. Rohan Patil, Technical Analyst, SAMCO Securities said, "The frontline index of NSE Nifty-50 ended on a positive note for the seventh straight session and closed above 17...

Gold, silver rate today are rising on these 5 reasons — weakness in US dollar rate, poor US data, US Fed interest rate peak out, fear of slowdown and rising oil prices, say experts Gold rate today extended its rally on yet another session after hitting life-time high of ₹61,145 per 10 gm on Multi Commodity Exchange (MCX) on Tuesday. While climbing to record high on MCX, gold price hit 13-month high in international market. Silver rates today are also in uptrend hitting 12-month high in international market whereas it hit 22-month high on MCX. According to commodity market experts, reason for rise in gold and silver rates in commodity market today can be attributed to these 5 reasons — weakness in US dollar rate, poor US data, US Fed interest rate peak out, economic uncertainty and rising crude oil prices. They said that gold price in India have strong support placed at ₹59,500 levels while in international market the yellow metal has strong support placed at $2,010 levels. Likewise, s...

Global markets mixed as contagion fears grip the investors after weekend rescue deal for Credit Suisse; all eyes on US Fed. Global markets update: The central banks and governments over the weekend hatched a deal to rescue Credit Suisse and First Republic Bank, but the contagion fears of a larger baking crisis remain. Asian stocks opened mixed on Monday. All eyes are now on US Federal Reserve, which will announce its monetary policy decision on March 22. Asia Market Asian stocks steadied and U.S futures rose on Monday in relief at a weekend rescue deal for Credit Suisse and a concerted effort from central banks to shore up the mood, though trade was tense and volatile as contagion fears stalked financial shares. UBS-Credit Suisse rescue deal In an effort to avoid further market-shaking turmoil in the global banking system, UBS is buying troubled rival Credit Suisse for almost $3.25 billion. The Swiss bank is paying 3 billion francs ($3.3 billion) for its rival in an all-share deal tha...

Share Market LIVE Updates: Benchmark indices are trading in the red amidst volatility as Sensex goes below 59,000 and Nifty at around 17,300. . Adani Enterprises and Adani Ports shine, while Cipla and Hindalco lag. Most indices are trading in red except Media and Consumer Durable. Metal, IT, Energy, and Pharma tank the most. The government will release India’s GDP data for the October-December 2022 quarter (Q3FY23) today. The GDP growth rate moderated to 6.3% in the preceding quarter after a double-digit expansion in the Q1 of the current financial year.   MRF raises ₹150 crore, NCDs listed on NSE debt segment Tyre manufacturer MRF on Tuesday announced that the company has raised ₹150 crore through non-convertible debentures (NCDs) on a private placement basis. The said NCDs of the company have been listed on the debt segment of National Stock Exchange with effective from 27 February 2023. The company said that it has issued 15,000 listed, unsecured, rated, redeemable, taxable, no...

Gold price today has immediate support placed at $1,785 to $1,780 per ounce levels in international spot market Gold rate today: On account of strong U?S dollar and hawkish US Federal Reserve on rising US inflation concerns, gold prices continue to remain under sell off pressure and hover around 2-month lows. Gold price today opened lower in domestic market at ₹55,397 per 10 gm and went on to hit further lower levels in early morning session. The yellow metal price corrected in international spot market as well and made intraday low of $1,806.78 per ounce in morning deals on Monday session. However, US dollar rates continued to remain strong on US Fed interest rate hike speculations. After witnessing some profit booking in early morning session, Dollar Index regained its lost ground and added 0.03 per cent and hit 105.190 levels.   According to bullion market experts, gold rates today is under pressure due to stock US economic data, which has stoked inflation fear among the US Fed...

Share market LIVE updates: Indian indices were lower on Friday as financials sustained the slide on risk aversion due to Hindenburg's report on the books of Adani group companies. At 11am, Sensex was down 754.54 pts at 59,450.52, and Nifty fell 210.50 pts to 17,681.45 Asian stocks rose on Friday and were poised for their fifth straight week of gains after data highlighted a resilient U.S. economy, boosting investor sentiment ahead of next week's slate of central bank policy meetings. MSCI's broadest index of Asia-Pacific shares outside Japan rose as much as 0.55% to hit an almost nine-month high of 562.10. Adani Group stocks fall amid attack from Hindenburg Research Adani Group's listed companies fell on Friday, adding to losses from Wednesday when New York-based Hindenburg Research flagged concerns in a report about debt levels and the use of tax havens at the conglomerate. Adani Transmission Ltd tumbled 19.2% and Adani Total Gas sank 19.1% in their biggest daily drop ...

On November 25 last year, as per regulatory filing on BSE, Adani Enterprises' board of directors approved the raising of funds through a further-public offering aggregating to ₹20,000 crore. Adani Enterprises share price is in focus on Tuesday amidst news reports of a likely ₹20,000-crore follow-on public offer (FPO). The stock opened lower for second consecutive day despite the FPO buzz in the market. At the time of writing, this Adani stock traded at ₹3,597.60 apiece down by ₹21.40 or 0.59% on BSE. Its market cap has dipped to around ₹4.10 lakh crore.  The stock has touched the day's low of ₹3,560.05 apiece --- resulting in an overall drop of over 1.6% from the previous session. This would also be the second consecutive day of fall of Adani Enterprises stock in the current week. The Adani group company has filed papers with stock exchanges for the proposed issue. The Adani Group's flagship company's FPO filing buzz has been taking rounds since last year. As per the l...

Shares of Infosys rose marginally to ₹1,489 apiece on the BSE in Friday's opening deals after the IT company reported a better-than-expected over 13% rise in profit in the December quarter and raised its annual sales forecast on a strong deal pipeline even as it warned of "constraints" in certain verticals amid slowing global economy. CEO Salil Parekh noted that Q3 witnessed ‘exceptionally strong growth’ but acknowledged that signs around are showing a slowing global economy.  “Despite healthy deal wins, Infosys' upward revision in FY23 growth guidance of 16-16.5% implies a soft 4Q. Slowing net hiring also reflects rising caution. We raise our FY23 -25 estimates by up to 2% and expect Infosys to deliver 13% EPS CAGR over FY23-25. Infosys strong execution favorably positions it to gain market share, strong deal bookings and consistent execution provide comfort amidst an uncertain macro. Maintain Buy with target price of ₹1,770/share," said Jefferies in a note. Des...

Asian stock markets mostly pushed higher on Thursday, ahead of U.S. consumer price data that investors hope will confirm inflation is in retreat, while the yen rose with a report Japan will next week review the side-effects of its ultra-easy policy. Following gains for Wall Street indexes overnight, MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5% and touched an almost seven-month high. Japan's Nikkei wobbled 0.2% lower. Bonds were bought around the world overnight and the U.S. dollar wavered, to touch a seven-month low at $1.0776 per euro. Due at 1330 GMT, economists expect the rise in core U.S. consumer prices slowed to an annual pace of 5.7% in December, from 6% a month earlier. Month-on-month headline inflation is seen at zero. The hope is that falling inflation reduces the need for interest rate hikes, and markets have priced better-than-even odds that the Federal Reserve slows its cracking pace and hikes by 25 basis points, rather than 50, at next mont...

India's top valued company Reliance Industries Ltd's (RIL) shares outperformed Nifty by about 4% in 2022. Global brokerage Jefferies' sees potential earnings upside from RIL's O2C if China's demand recovers by mid-CY2023 and export duties are eliminated.  “We forecast 18% EBITDA growth in FY24E with 21% in Retail on the back of floorspace growth and 24% in Jio on tariff hike and home broadband traction. Valuation has moderated imputing little value to green energy in our view. Borrowings likely will rise," the note stated. Jefferies has maintained its Buy rating on RIL shares with a target price ₹3,100, implying more than 22% upside from the current level. The brokerage expects Jio to deliver 19% YoY rev growth led by tariff hikes in the mobile segment and continued traction in non-mobile segment. 5G pricing/adoption and its impact on market dynamics is key monitorable. The timing and quantum of next tariff hikes and Jio's response to Bharti's rural exp...

The US stock market fell on Tuesday with investors keenly looking forward to Fed Chair Jerome Powell's public appearance later this week The S&P 500 closed lower on Tuesday as investors awaited guidance on the Federal Reserve's path of interest rate hikes, while US oil futures gained on hopes China loosens COVID-19 restrictions that have fueled fears about the global economy. The US dollar edged lower against the Japanese yen while the Aussie dollar jumped as sentiment improved on hopes China would ease on lockdowns after health officials discussed speeding up COVID vaccinations for elderly people. US Treasury yields rose ahead of a public appearance by Fed Chair Jerome Powell and a slew of data due later in the week. A survey released on Tuesday showed US consumer confidence eased further in November amid persistent worries about the rising cost of living. Richmond Fed President Thomas Barkin on Monday doused speculation the US central bank would reverse course on interest...

  At the upper end of the price band, Uniparts India IPO is expected to fetch ₹836 crore Engineering systems and solutions provider Uniparts India's ₹836-crore initial public offering (IPO) will open for public subscription on Wednesday, November 30, 2022 and conclude on Friday, December 2, 2022. The bidding for anchor investors will open on Tuesday, November 29. The price band has been fixed in the range of ₹548-577 a share for its three-day initial share sale. “Uniparts India is manufacturer of engineered systems and solutions and leading supplier of of components for the off highway market in agriculture and construction. International sales contributed to over 82% sales in FY22. Revenues and margins grew steadily in past three fiscal years. At the upper band of the offer, the implied market cap stands at approx. Rs. 2604 crores and the asking p/e multiple is 15.28x which looks quite reasonable as compared to its peers. The secondary market being at all-time highs should help th...

Vedanta announced an interim dividend of ₹17.50 per share or 1750% for the financial year 2022-23 Shares of Vedanta Ltd started trading ex-dividend on Tuesday, a day ahead of its record date which has been fixed as Wednesday, November 30, 2022 for the purpose of the payment of the third interim dividend of ₹17.50 per share or 1750% for the financial year 2022-23. Vedanta shares rose over a per cent on the BSE in opening trading session. “We wish to inform you that the Board of Directors of the Company through resolution passed by circulation on Tuesday, November 22, 2022 have approved Third Interim Dividend of ₹17.50 per equity share i.e. 1750% on face value of Re. 1/- per share for the Financial Year 2022-23 amounting to c. ₹6,505 crores. The record date for the purpose of payment of dividend is Wednesday, November 30, 2022. The interim dividend will be paid within stipulated timelines as prescribed under law," the company had informed in an exchange filing. Billionaire Anil Agar...

  Multibagger stock: Shares of Leading Leasing Finance And Investment Company Ltd are one of the multibagger stocks in India. The small-cap stock with a market cap of around ₹52 crore is one of those stocks in 2022 that announced subdivision of shares as well. The board of directors of the company announced 1:10 stock split this year and the stock traded ex-split on 22nd September 2022. In last one month, this small-cap stock has delivered over 25 per cent return to its shareholders. However, this stock has a history of delivering whopping return to its shareholders as it surged from around Re 1 to ₹9.70 apiece levels in last 5 years, delivering to the tune of 870 per cent return to its long term positional investors. Leading Leasing Finance share price history In last one month, this small-cap multibagger penny stock has risen from around 7.75 to 9.70 apiece levels, recording around 25 per cent rise in this period whereas in last six months, it has surged from6.80 to ₹9.70 per sha...

  Promoter & Director of the company has been raising his stake in small-cap FMCG company Mishtann Foods share price is giving sharp upside moves after hitting 52-week low of 7.80 apiece in July 20220. While this rebound in 10 stock is catching attention of retail investors, promoters are also looking to cash-in this big opportunity. Like retail investors company promoter Hiteshkumar Patel is also among the bargain hunters of this stock. The company promoter has been busy doing bottom-finishing in the scrip since 15th November 2022 raising his stake in the FMCG company to 49.37 per cent. As per the information available on BSE website, Promoter & Director of the company Hiteshkumar Patel has hiked his stake in the company through open market purchase. Hiteshkumar picked up multiple chunks of shares since 15 November, 2022 and is still buying daily, brining his stake to 49.37 per cent. Advising bottom-finishing and reasons for rebound in this ₹10 stock from 52-week low, Ravi...

Keystone Realtors, which sells properties under brand Rustomjee, saw its IPO receive  Shares of Keystone Realtors Private Ltd made a market debut on Wednesday with the stock listing at ₹555 apiece on the NSE, a premium of more than 2% as compared to its IPO issue price of ₹541 per share. On the BSE, Keystone Realtors shares started trading at ₹555 apiece. Keystone Realtors, which sells properties under the brand 'Rustomjee', saw its initial public offering (IPO) receive 2 times subscription on the last day of offer that was open from Monday, November 14, 2022 to Wednesday, November 16, 2022. The public issue issue got bids for 1,73,72,367 shares against 86,47,858 shares on offer. Keystone Realtors IPO had a fresh issue of up to ₹560 crore and an offer for sale (OFS) of up to ₹75 crore. The price range for the initial share sale was fixed at ₹514-541 a share. Keystone Realtors collected a little over ₹190 crore from anchor investors. The company decided to allot 35.21 lakh equit...

  Nikkei hits over 2-month high on hopes of Fed slowing rate-hike pace Asian shares tracked Wall Street higher today, lifted by signals that the US Federal Reserve may slow the pace of interest rate hikes going ahead. Hopes of fresh economic stimulus from China also lifted sentiment with Japan's Nikkei surging over 1% to 2-month highs. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.8%. Overnight, Wall Street had edged higher after minutes from the Fed meeting earlier this month indicated several officials backed the need to moderate the pace of rate hikes, even as some underscored the need for a higher terminal rate. The S&P 500 closed at a two-month high Wednesday. US markets are closed for the Thanksgiving holiday today. US stock futures are higher too. S&P 500 futures rose 0.2% while Nasdaq 100 futures rose 0.3%. In China, property shares jumped today, after the country's biggest commercial banks agreed to provide billions of dollars in credit ...

 Cinevista, OCL Iron and Steel, and Modern Thread (India) will be among the stocks in focus on Wednesday as they will be declaring their September quarter earnings. Inox Green Energy: One of the major wind power operation and maintenance service providers, Inox Green Energy Services will make its market debut on Wednesday. The company's ₹740 crore initial public offering (IPO) which ended last week, received full subscriptions driven by retail investors and institutional buyers. Inox Green Energy Services is a subsidiary of the listed firm Inox Wind. Adani Enterprises: Adani Enterprises Ltd. is considering issuing at least $1.8 billion in new shares, according to people familiar with the matter. The conglomerate is working with advisers on the follow-on issue and could sell the shares as soon as next year, the people said, asking not to be identified as the information is private. The sale could even raise as much as $2.4 billion, one of the people said. FSN E-Commerce Ventures: ...