STOCKS TO SELL
Tencent likely to sell 2.1% stake in PB Fintech via block deal for Rs 1,610 crore: Report
The floor price for the issue is set at Rs 1,660.2 per share, a 4.4% discount to Wednesday's closing price. Tencent, which held a 4.6% stake in the Policybazaar parent company as of June 30, 2024, is reportedly selling its stake.
SGB at 15% higher price on stock exchanges: Why you must factor in the taxation while trading SGB in secondary market
Sovereign Gold Bond (SGB): The price of gold bonds have shot up on the National Stock Exchange (NSE). According to Aksha Kamboj, VP of India Bullion & Jewellers Association (IBJA), "SGBs are trading in the stock market at 7-8% premium in anticipation of fear of more SGB tranches not being announced by the Government."
Warren Buffett sells more BofA shares, reaping $982 million
Warren Buffett's Berkshire Hathaway has sold additional Bank of America shares worth $982 million, bringing the total stake reduction to 13% and generating $5.4 billion since mid-July. The move marks a significant pullback from an investment that began in 2011. Berkshire remains the bank's largest shareholder, holding shares worth $35.9 billion.
TPG sells 3% stake worth Rs 1,230 crore in Tata Technologies via block deal
TPG sold a 3% stake in Tata Technologies on Tuesday for Rs 1,230 crore through Rise Climate Sf Pte Ltd. The shares, priced at Rs 1,014.16 each, were sold at a 3.2% discount to Monday’s closing price.
Buy Zomato, sell Jubilant Foodworks & don't buy other QSR stocks: Will this theme continue even longer after Swiggy gets listed?
For 2023, Biryani was the most ordered food online. Will 2024 be different when numbers come out. Not probably, With nearly 85 variants and over 6.2 million orders, 'Dum Biryani 'has emerged as the undisputed champion. Biryani rice came in second with 3.5 million orders, while 'Hyderabadi Biryani' received over 2.8 million orders. For some investors these might appear to be irrelevant at the first instance, but probably that is the reason why stocks like Jubilant foodworks and other QSR stocks have been underperforming for quite some time. Will this change, or growth of zomato and swiggy, which makes sure that more Briyani, Chole Bhature and Tikki are ordered, brings a cap to growth which pizza and burger sellers can have at least in terms of giving return on the street.
FIIs offload shares worth ₹29,000 crore via stock exchange in August, but buying noticed in primary market
During the first two weeks of August, foreign institutional investors withdrew a substantial Rs 14,790 crore from financial stocks and expressed a bearish sentiment towards metals, services, construction, and auto sectors. Conversely, FIIs demonstrated a bullish approach by investing in healthcare (Rs 3,462 crore), consumer services (Rs 2,196 crore), FMCG (Rs 1,785 crore), and power (Rs 1,169 crore).
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Adanis sell Rs 4,200 crore worth stake in Ambuja Cements, stock up 4%
The Adani Group, led by billionaire Gautam Adani, sold 2.8% of its stake in Ambuja Cements for Rs 4,200 crore, prompting a 4% rise in the stock. The group now holds a 70.33% stake in the company. Ambuja recently acquired Penna Cement at an enterprise value of Rs 10,422 crore, boosting its market share in southern India.
Harindarpal Singh Banga to sell 1.4% stake in Nykaa for Rs 809 crore
As outlined in the bankers' term sheet, the Bangas intend to sell 4.09 crore shares at a floor price of Rs 198 per share, representing a 5.9% discount to Thursday’s closing price of Rs 210.
General Atlantic set to sell up to 5.1% stake in PNB Housing via open market on Wednesday
General Atlantic plans to sell a 5.1% stake in PNB Housing Finance through the open market on Wednesday at a floor price of Rs 775 per share, intending to raise Rs 1,033 crore. This transaction is set at a 4.4% discount to Tuesday's closing price.
FPIs pull out Rs 21,201 crore from equities in August so far
In August, foreign investors sold Indian shares worth ₹21,201 crore, reversing inflows seen in July and June. The sell-off was influenced by global factors like the unwinding of the Yen carry trade, recession fears, and geopolitical tensions. Additionally, profit-booking after recent market gains contributed to the outflow.
FPIs turn net sellers; pull out Rs 21,201 crore from equities in Aug so far
In August, foreign investors withdrew Rs 21,201 crore from Indian equity markets, influenced by the unwinding of the yen carry trade, US recession worries, and geopolitical tensions.
F&O stocks to buy or sell today: Titan, Oberoi Realty among top 8 trading ideas for August 14, 2024
The Indian market is expected to trade higher on Wednesday, driven by positive global cues. On Tuesday, FIIs sold Rs 2,107.17 crore worth of stocks, while DIIs bought Rs 1,239.96 crore. FIIs' long-short ratio for index futures stands at 48.05, reflecting a net sale of 36,291 index futures.
Vedanta to sell 2.6% stake in Hindustan Zinc via OFS
The Metals and mining major held a 64.92% stake in HZL as of the June quarter, with the government owning 29.54%. The proceeds will help Vedanta reduce its debt. As of March 2024, Vedanta's gross debt was ₹71,759 crore and net debt at ₹56,338 crore. The company held cash and equivalents of ₹15,421 crore. FY24 finance costs rose to ₹9,465 crore from ₹6,225 crore, driven by increased borrowings and higher interest rates.
FIIs sold Indian stocks worth $1.3 billion this week. Will the sell-off deepen?
However, buying of around $2.2 billion worth of equities by domestic institutional investors last week limited the downside on Dalal Street. Sensex ended 1.6% lower on a weekly basis as global markets recouped losses after ' Black Monday' sell-off.
As the Indian economy grows, a new definition of defensive stocks is required? 8 stocks from 2 sectors with upside potential up to 31%
On two significant days, first the election results on June 4th and second, last Monday, when there was a sharp sell off in global markets, on both the days, while Nifty and broader market was under severe pressure, it was FMCG stocks, which were able register gains. Explanation was the same old, that money is moving to defensive stocks. While moving to defensive stocks trade which has been taking place for some time. But there is a fundamental question. Given the fact that the Indian economy has changed and new sectors have emerged, whose growth is better and also stable, should FMCG stocks be considered defensive stocks ? The reason why it is important to understand this is the fact that over the next few quarters volatility might be high and there will be phases where this defensive stock trade might come and one should be prepared for it. Also their numbers are clearly indicating that time to make a shift has come.
Mutual funds hit sell button on HAL, GRSE, 10 other defence stocks. Should you too book profits?
Mutual funds offloaded shares in 12 defence stocks amid concerns over high valuations, with retail investors stepping in to buy. Foreign institutional investors also increased their holdings in many of these stocks. Experts advised a careful stock-specific approach as high valuations may limit near-term gains despite strong order books and government focus on indigenization.
ONGC shares rally over 7% despite missing Street estimates. Should you buy, sell or hold?
ONGC Share Price: Despite a 15% year-on-year drop in Q1 net profit to Rs 8,938 crore, ONGC shares gained 8%, closing at Rs 329.50. Highlighting marginal falls in crude oil and gas production, brokerages gave mixed ratings, focusing on the potential of the KG basin and other assets. The company's performance outlook remains cautiously optimistic. | Oil and Natural Gas Corporation
FII Tracker: Banks, power stocks worth over Rs 11,000 crore dumped; IT new favourite
FIIs sold financial and power stocks worth Rs 11,444 crore in July, redirecting funds to IT, metals, auto, healthcare, and capital goods. Financial services experienced significant sell-offs due to various challenges. Conversely, IT companies reported positive growth, resulting in FIIs increasing their investments in the sector.
S&P 500, Nasdaq end with strong gains, rebounding from global market sell-off
The S&P 500 and Nasdaq rose by 1% as investors returned following a major sell-off. Strong comments from Federal Reserve officials alleviated recession concerns. Traders expect rate cuts in the next Fed meeting. Nvidia boosted indices, while Uber and Caterpillar reported positive earnings. The Nasdaq is up 9% in 2024.
Holding on to cash, next market sell-off will be worst in lifetime, warns Jim Rogers
Veteran investor Jim Rogers anticipates a severe financial collapse due to rising global debt. Rogers disclosed holding substantial cash reserves. Warren Buffett's Berkshire Hathaway also increased cash holdings to $277 billion following significant stock sales.
Analyst Views: Selloff may offer opportunities
Analysts indicated that global panic selling might provide investment opportunities shortly. While Indian stocks appear oversold, further corrections are possible, especially in midcaps and large-caps. They recommended focusing on sectors such as pharma, FMCG, IT, chemicals, and financial services, which could outperform during the market's recovery phase.
RailTel shares tumble 7% post Q1 earnings; brokerage maintains 'Sell' rating
RailTel Corporation of India's shares fell by 7% following its June quarter results. The company reported a year-on-year increase in net profit but saw a sequential decline.
China stocks buck global sell-off as services activity rises; Hong Kong slips
China's stock indices showed modest gains following accelerated growth in services activity for July. The Shanghai Composite increased by 0.07%, and the CSI300 rose by 0.24%. Meanwhile, concerns over a potential U.S. recession weighed down Hong Kong stocks and global markets, pushing investors towards safer bonds and away from riskier assets.
Japan's Nikkei 225 index plunges nearly 7% as global sell-offs resume
Japan's Nikkei 225 fell 6.7% early Monday, extending losses from last week due to concerns over the U.S. economy dealing with high interest rates. The index later recovered some ground. The S&P 500, Dow Jones, and Nasdaq also experienced declines, amplifying fears of a potential recession in the U.S.
Global stock traders face dip-buying dilemma after crushing sell-off
A selloff that rocked equity markets around the world is clouding the outlook for investors looking to buy stocks on the cheap, as worries over the U.S. economy and disappointing tech earnings threaten more losses ahead.
Stocks drop, Nasdaq confirms correction as recession fears mount
U.S. stocks dropped notably for the second day as a soft jobs report heightened recession worries. Nonfarm payrolls rose by just 114,000, missing expectations. The unemployment rate increased to 4.3%, near a three-year high. Major indices, including the Nasdaq, saw substantial declines, with market sentiment turning bearish.
European tech stocks fall to six-month low, join in global sell-off
Shares in chipmaker Intel slumped 20% premarket after the company suspended its dividend and said it would cut 15% of its workforce as it grapples with a pullback in spending on traditional data center semiconductors and a focus on AI chips.
Tech View: Nifty may consolidate in 24,200-24,800 range
Stock market analysts foresee potential volatility before the Union Budget, with Nifty expected to consolidate or face a deep correction. Traders advised to be cautious and maintain strict stop-loss strategies. Investors suggested to watch market movements closely and consider booking profits in specific stocks.
Japan's Nikkei falls 2% amid global chip sell-off, surging yen
Japan's Nikkei dropped 2%, led by a chip sell-off and stronger yen. Tokyo Electron fell 9.5%. Nikkei hit 42,426.77 last week. Volatility spiked. U.S. chip shares fell on export curbs. Topix dropped 0.93%. TSMC earnings, Tokyo groups, Taiwan-U.S. tensions noted. Machinery, Mazda, precision machinery, value shares, transport sector also declined. Nomura’s Sawada cited earnings season impact.
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