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Stocks in news: RIL, IndiGo, PB Fintech, Vedanta, Tata Steel

Stocks in News Today: Chinese multinational technology conglomerate Tencent is likely to sell 2.1% stake in PB Fintech via block deal at an estimated price of Rs 1,610 crore.

Stock Radar: 100% rally in a year! This multibagger telecom stock still has more upside; time to buy?

HFCL's stock, a leading manufacturer of 5G and other technologies, has surged 106% in a year, reaching Rs 148 on August 27, 2024. The stock's uptrend started in January 2024 after breaking out from a 3-year consolidation. On the weekly charts, it has consistently made higher lows for the past 4 weeks.

Daily Trading Desk: Short term trading bets. First, a tech stock for 6% and a real estate stock for 7% gain

The markets experienced little action with negligible gains as the Nifty 50 Index remained in a flat range. The breakout is spreading to more sectors as market breadth turns better. Tata Tech shows signs of trend reversal, while Century Textiles broke out from a horizontal resistance, suggesting a potential 7% upmove.

Eicher Motors, PVR INOX among 5 stocks with short covering

Jefferies upgrades Zydus Life to 'Buy' on strong US pipeline potential, stock up 4%

Global brokerage firm Jefferies has upgraded Zydus Lifesciences to a 'Buy' rating, citing the strength of the company’s US pipeline as a major growth driver. Jefferies raised its target price to Rs 1,450 from Rs 1,210, indicating a 30% upside from the previous closing price of Rs 1,113.80.

Smallcap stock jumps 32% in 2 days on Microsoft partnership for AI

Datamatics advances its copilot innovation by customizing solutions for each organization with support for Microsoft 365 or creating custom copilots for each unique client organization, which enables organizations to maximize the potential of copilots through a personalized, consultative approach rather than a one-size-fits-all method.

Zee Entertainment shares rise nearly 3% after settlement with Sony India

Zee Entertainment Share Price: Zee Entertainment shares rose 2.7% after the company announced a settlement with Sony's Culver Max Entertainment. Both parties agreed to withdraw all claims related to their failed merger, which had earlier received necessary regulatory approvals. The failed merger would have created India's largest entertainment network. Zee shares had fallen 46.5% this year.

Orient Technologies shares list at 41% premium over issue price

Orient Technologies Share Price: Orient Technologies' shares debuted with a significant premium on BSE and NSE compared to its issue price. The IPO received strong investor interest, especially from non-institutional investors. The proceeds will fund capital expenditures and office acquisitions. The company, specializing in IT infrastructure, reported a notable revenue and profit increase in FY24.

This Ashish Kacholia portfolio stock rallies over 1,000% in 2 years. Should you ride the rally?

Shares of Balu Forge Industries, backed by investor Ashish Kacholia, have surged over 1300% in the last two years, driven by strong profit growth. The stock, which manufactures crankshafts and forged components, saw profit booking on Monday, falling by 1.5%. Experts suggest monitoring the Rs 740 and Rs 800 levels for future price action.

Ahead of Market: 10 things that will decide stock action on Wednesday

Indian equity markets ended flat on Tuesday. Analysts noted that profit-taking at highs and technical indicators suggest the Nifty could face resistance at 25,200-25,250, with support at 24,960-24,855. The market remains range-bound, with potential for a slight dip or rise depending on movements around 25,000 and 25,100.

Stock Radar: This Rekha Jhunjhunwala stock breaks out of Inverted Head & Shoulder pattern; time to buy?

Rekha Jhunjhunwala of RARE Enterprises held a 5.3% stake in Titan Company as of June 2024, according to the latest shareholding data. This represents a slight decrease from her 5.4% stake in March 2024. The total value of her stake in the company is estimated to be around Rs 16,994 crore as of August 26, 2024, based on data from Trendlyne.

Daily Trading Desk: Two short term trades, a metal stock for 5% gain and a hotel stock for 7% upswing

The Nifty 50 Index gained 187.45 points after consolidating for a few days. Hindalco is showing signs of a potential breakout, supported by strong technical indicators. Indian Hotels Co Ltd has broken out from a symmetrical triangle pattern, suggesting a possible price rise. Breakout has become more frequent as more sectors join the party.

Deepak Nitrite, SBI Card among 5 stocks with long buildup

Rocket Returns: This Madhusudhan Kela and Sunil Singhania-owned smallcap stock has rallied 45% since April QIP

Shilpa Medicare, held by Madhusudhan Kela and Sunil Singhania, has returned 45% since its QIP allotment four months ago. Singhania's Abakkus Diversified Alpha Fund-2 received 6 lakh shares, while Kela’s Cohesion MK Best Ideas Sub-Trust was allotted 8.79 lakh shares.

NIIT shares hit 20% upper circuit after Ramesh Damani acquires stake

NIIT Share Price: NIIT shares climbed 20% to a day’s high of Rs 153.84 on the NSE after ace investor Ramesh Damani acquired a 0.59% stake in the education company, valued at Rs 10.02 crore, through an open market transaction. Over the past two trading sessions, NIIT’s stock price has soared by 29%, rising from Rs 119.08 on Thursday, August 22, to its current level.

Daily Trading Desk: Short-term trading gains, a power stock, and a pipe maker for a 6% upmove each

Momentum catch up in across the sector

JM Financial initiates coverage on 5 real estate stocks, expects ‘home-run’ to continue

FY24 marked a record-breaking year for residential real estate absorption, with pan-India sales surpassing the billion square feet milestone. Since FY21, pre-sales in the top seven markets have consistently outpaced new launches, significantly reducing inventory levels to just 11 months.

Wipro, Indian Hotels among 5 stocks with long buildup

Stock Radar: 50% rally in 3 months! This capital goods stock hits a fresh record high in August; time to buy or book profits?

Praj Industries Ltd, a capital goods stock, saw a 50% rise in three months before mild consolidation. Experts suggest potential for the stock to reach Rs 875, supported by bullish indicators such as Supertrend, RSI, and MACD. The stock found support above 650 levels, hinting at sustained upward momentum.

Smallcaps stocks: Don't bother about noise by Nifty, if you own the right business. 6 smallcap stocks from 6 sectors

Once again there is a narrative on the street that small caps are overpriced. Is there anything wrong with that narrative? The answer is No. Out of the total universe of smallcap stocks listed on the exchanges, maybe 90 % are overpriced. But a distinction needs to be made between a stock being overpriced and bad business. A situation of an overpriced stock gets corrected as the earnings move up, but a bad business cannot be set right. So, when buying a smallcap, focus on the underlying business and that probably will help in retaining that stock for a long period to take full benefit of the growth of the business.

Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 36%

While it is always better to do it, there are some phases when it is important to de-link with what is happening to nifty and stocks in your portfolio. The reason, if one looks at the composition of the Nifty and Sensex, they can be impacted by movement in one or two sectors. At this point in time, while the overall market trend is bullish, the market is moving more into stock-specific mode, a sort of profit booking and that is why divergence between the value of the portfolio and what is happening to nifty might become a common thing. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.

CDSL shares surge 6% as stock trades ex-bonus today

CDSL Share Price: Shares of Central Depository Services (CDSL) surged 6% to a day's high of Rs 1,558.85 on the NSE after trading began on a pre-bonus basis. The record date for the bonus issue is Saturday, August 24, but since Saturday is a market holiday, today is the ex-date. Bonus shares will be issued to shareholders registered as of the record date.

30 defence, other PSU stocks in bear grip. Will the multibagger magic end?

After a robust performance, 30 PSU stocks have entered the bear market, prompting mutual funds and FIIs to reduce stakes. Despite strong government reforms bolstering these stocks, experts indicate current valuations are high and a correction period may be necessary. PSUs with high capital efficiency may continue to attract investors.