Intensify Research Pvt. Ltd.

IndusInd Bank share price today surged over 2% in early morning deals Stock market today: After announcement of Q4FY23 results yesterday, IndusInd Bank shares have been in uptrend since morning deals on Tuesday. IndusInd share price today opened upside and went on to hit intraday high of ₹1,127.60 apiece on NSE, logging around 2.30 per cent rise within few minutes of stock market's opening bell today. According to stock market experts, IndusInd Bank has reported a decent fourth quarter results for the financial year 2022-23, and market is reacting to the good quarterly numbers announced by the private lender. They said that the banking stock looks positive and it may go up to ₹1600 apiece levels in long term. Why IndusInd Bank shares are rising? On why IndusInd Bank shares are surging today, Shreyansh Shah, Research Analyst at Stoxbox said, "IndusInd Bank has delivered a decent performance in the fourth quarter, with good momentum seen across its businesses such as retail and...

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 ...

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...

Share Market LIVE Updates: Indian stock market started in the green as Sensex goes above 57,700 and Nifty adds 50 pts. Most sectors start in green with Adani stocks gaining in early trading. Wall Street ended lower on Tuesday as Tech and Bank stocks continued to remain under pressure. Asian markets are also mostly trading lower in the morning session. Indian stock market will be firmly under the grips of bears as global banking stocks continue to remain volatile. Domestically, RBI policy decisions will drive the market in the coming weeks. RBI will begin its 3-day monetary policy meeting on April 3rd and the outcome in key rates and economic outlook will be announced on April 6th. FCI procures season’s first wheat in Madhya Pradesh, buys 10,727 tonne The Food Corp. of India (FCI) procured 10,727 tonne of wheat on Monday, the first day of 2023-24 rabi marketing year. The quantity was purchased at the minimum support price of ₹2,125 per quintal in Madhya Pradesh, said Ashok Meena, chair...

Hindustan Zinc has announced ₹26 per share interim dividend to its eligible shareholders One of the dividend stocks in India, Hindustan Zinc Ltd announced fourth interim dividend in FY23 on Tuesday. The board of directors of the state-owned company declared ₹26 per share interim dividend for the financial year 2022-23. The company has already fixed record date for finalising the eligible shareholder for interim dividend payment on 29th March 2023. From this ₹26 per share interim dividend, a big number of its shareholders are going to benefit directly as dividends are directly transferred into the bank account of company's shareholders. As LIC, Vedanta too have stake in Hindustan Zinc, these two companies are expected earn whopping amount from this ₹26 per share interim dividend. As per ther shareholding pattern of Hindustan Zinc for October to December 2022 quarter, Vedanta is expected to earn around ₹7,132 crore whereas Life Insurance Corporation (LIC) is expected to earn near ₹29...

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...

Gold rate today climb to intraday high of ₹58,277 per 10 gm on MCX and came more close to its record high of ₹58,847 per 10 gm levels Gold rate today: On account of ease in bank crisis and European Central Bank (ECB) raising interest rate on sixth straight meeting, gold and silver price today ascended in early morning deals. Gold price came further close to its life-time high of ₹58,847 per 10 gm levels and hit intraday high of ₹58,277 levels, around ₹600 per 10 gm away from its record high on Multi Commodity Exchange (MCX). Gold future contract for the month of April 2023 on MCX today opened upside at ₹58,269 per 10 gm and went on to hit intraday high of ₹58,277 levels. But, profit booking triggered soon and gold price today made intraday low of ₹58,174 per 10 gm. Silver future contract fro May 2023 on MCX opened higher at ₹67,140 per kg levels and went on to hit intraday high of ₹67,417 per kg levels within few minutes of market opening. Why gold, silver prices are skyrocketing On r...

Global Surfaces has set IPO price band at ₹133-140 per share Global Surfaces Ltd, which is into processing natural stones and manufacturing engineered quartz, has launched its initial public offering (IPO) for subscription on Monday, March 13 till Wednesday, March 15. The company has set a price band of ₹133-140 a share. As of 10:40 am on day 1, the issue has been subscribed 0.04x as retail investors' category booked 0.08x, NIIs 0.01x, BSE data showed. As per market observers, Global Surfaces shares are commanding a premium (GMP) of ₹35 in the grey market today. The shares of the company are expected to list on leading stock exchanges BSE and NSE on March 23, 2023. Global Surfaces IPO comprises fresh issuance of 85.20 lakh equity shares and an Offer For Sale of up to 25.5 lakh equity shares by promoters - Mayank Shah and Sweta Shah. Funds raised through fresh issuance will be used for setting up the company's proposed facility. “The company's operational revenue is primaril...

Vedanta shares rose on Wednesday after falling sharply in Tuesday's session Shares of Vedanta Ltd surged nearly 2% to ₹275 apiece on the BSE in Wednesday's opening deals after billionaire Anil Agarwal's Vedanta Resources Ltd on Tuesday said it has enough means to meet debt repayment liabilities in the coming quarters as it looked to assuage investor concerns around its financial position. The company added that it prepaid all of its maturities due till March 2023.   "Vedanta Resources Limited has pre-paid all of its maturities due till March 2023 and has deleveraged by USD 2 billion in the past 11 months. Thus, it has achieved half of its USD 4 billion 3-year debt reduction commitment in the first year, ahead of its plans for this fiscal," it said in a statement. The stock had fallen about 14% in the previous session after the road block in its acquisition of state-owned Hindustan Zinc and sharp rise in US dollar that led to depreciation of Vedanta bond yield. Ear...

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...