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...

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...

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...

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...

TCS declared a third interim dividend of ₹8 and a special dividend of ₹67 per equity share Shares of Tata Consultancy Services (TCS) rose to ₹3,320 apiece on the BSE in Monday's opening deals as the stock started trading ex-dividend on Monday, a day ahead of its record date for the interim and special dividend announced during Q3 results. While announcing its Q3 FY23 earnings, TCS' board of directors also declared a third interim dividend of ₹8 and a special dividend of ₹67 per equity share of Re 1 each of the company, with a total dividend announced of ₹75 per share. "The third interim dividend and the special dividend shall be paid on Friday, February 3, 2023, to the equity shareholders of the Company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Tuesday, January 17, 2023, which is the Record Date fixed for the purpose," India's top IT company had said in the filing. T...