ICICI Securities warns that investors are increasingly willing to take higher risks for lower returns as the Nifty approaches record highs. The shift from abnormally low interest rates to normal levels may limit equity returns from risky assets. The brokerage firm predicts a modest 8% upside from the current levels, with SBI, Bharti Airtel, and BHEL among its top picks. Despite this risk, ICICI Securities notes that the earnings outlook has improved, citing the Q4FY23 earnings season, which saw a significantly higher number of beats and in-line results as compared to misses.

Nomura says it is unsure of BHEL’s EBITDA margin and cash-generation prospects and cuts rating from ‘neutral’ to ‘reduce’. While Prabhudas Lilladher has upgraded its rating to ‘reduce’ from ‘sell’, ICICI Securities maintained its ‘buy’ rating.

The S&P BSE Sensex increased by over 200 points, while the Nifty50 closed just under 18600 points on Monday. The India VIX was slightly up, leading to it creating swings within a smaller range. On the options front, a broader trading range in between 18300 to 18800 zones is suggested while immediate trading range falls between 18400 to 18700 zones, according to Chandan Taparia, the Analyst-Derivatives at Motilal Oswal Financial Services Limited. Stocks suggested by experts for a short-term trading horizon include BHEL, IndusInd Bank, and Titan Company, among others.

Railways' premier production unit, the Rail Coach Factory, Kapurthala, failed to deliver even one Vande Bharat train in 2022-23 against a projected target of 32, documents have revealed, with the unit blaming its suppliers for not providing electrical components for the train sets.

Bharat Heavy Electricals Limited (BHEL) has reported an over 17% YoY growth in new orders to INR23,548 crore in FY 2022-23, compared to INR20,078 crore in the previous fiscal year. BHEL ended the year with an outstanding order book of over INR91,336 crore, with the latest order book exceeding INR1,00,000 crore due to the Vande Bharat trainset order. The company has leveraged its diversification strategy and secured orders across power, industry, and export segments. BHEL's revenue rose by 10% to INR23,365 crore, while construction tonnage surged by 100% in FY 2022-23 as compared to 2019-20.

Prabhudas Lilladher recommended reduce rating on BHEL with a target price of Rs 67 in its research report dated May 28, 2023.

Bharat Heavy Electricals Ltd has given a return of 2.92 percent over the last 5 years. Thus, considerably underperforming the benchmark Nifty50 index which has given a return of 74.07 percent over the same duration.

JPMorgan has upgraded General Insurance Corporation to buy with a target price of Rs 230, stating that it foresees an improvement in the trend of combined ratio for next year. Goldman Sachs has maintained its sell rating on both Info Edge and BHEL, with a target price of Rs 3340 and Rs 34 respectively. However, it has kept its buy rating intact on Dabur India with a target price of Rs 600. CLSA has maintained its sell rating on Vodafone Idea with a target price of Rs 5.

Aurobindo Pharma posted net profit of Rs 505 crore for the quarter ended March. The company's revenue stood at Rs 6,479 crore.

On a sequential basis, net profit for the quarter rose multifold from just Rs 10 crore reported in the December quarter.Revenue from operations rose by a meager 2% to Rs 8,226 crore in the March quarter, as against Rs 8062 crore in the same quarter of last year.

Russian nuclear major and one of the worlds leading civil nuclear firm Rosatom participated in the G20 International Seminar on ‘The Role of Small Modular Reactors in the Energy Transition. The event, organized under the framework of G20 Presidency of India, took place on Tuesday in Mumbai.

Three bidders have expressed their interest to supply coaches and rolling stock for the Bengaluru Suburban Railway Project (BSRP), Rail Infrastructure Development Company (Karnataka) Limited (K-RIDE) said on Wednesday. The bidders are: Spanish company Construcciones y Auxiliar de Ferrocarriles (CAF), Bharat Heavy Electricals Limited (BHEL) and Bharat Earth Movers Limited (BEML), K-RIDE said in a statement.

Bharat Heavy Electricals (BHEL), Delta Corp, Gujarat Narmada Valley Fertilizers and Chemicals (GNFC), and Punjab National Bank (PNB) are among the four stocks that are under F&O ban for trading on Tuesday. Future & Options (F&O) contracts enter a ban period when open interest (OI) on it exceeds 95% of the market-wide position limits (MWPL), and the ban is reversed only if the OI falls below 80%. Traders who trade in indices will not face the ban. Indian markets closed in the green.

Foreign portfolio investors (FPI) net bought shares worth Rs 1,685 crore on Monday. DIIs too bought stock worth Rs 191 crore.

Six Indian stocks, including Bharat Heavy Electricals, Delta Corp, Gujarat Narmada Valley Fertilizers and Chemicals, Manappuram Finance, Canara Bank and Punjab National Bank, have been placed under a futures and options (F&O) trade ban. The F&O contracts of a stock are placed in this ban period when the open interest on it is higher than 95% of the market-wide position limits or MWPL. The ban continues until the open interest falls below 80%.

Option data suggests a broader trading range in between 17900 to 18500 zones while an immediate trading range in between 18150 to 18450 zones.

FPIs continue to remain net buyers, investing Rs 837.21 crore on Thursday. DIIs sold shares worth Rs 200 crore.

Bharat Heavy Electricals (BHEL), Gujarat Narmada Valley Fertilizers and Chemicals (GNFC), Manappuram Finance and Canara Bank are the four stocks being placed under F&O ban on Thursday, with contracts banned when open interest exceeds 95% of market-wide positions limits. The ban is only lifted when open interest falls below 80%. Although under F&O ban, the stocks will remain available for trading in the cash market and are said to be experiencing volatile trading within normal ranges.

Amid the tug-of-war between the bears and bulls, the volatility gauge rose for the fourth straight session on Wednesday. The index ended 3% higher at 13.0825 points.

Shares of Bharat Heavy Electricals, Gujarat Narmada Valley Fertilizers and Chemicals, Manappuram Finance and Canara Bank are under futures and options (F&O) ban for trading on Wednesday. However, the stocks will be available for trading in the cash market. The F&O ban is in place when the open interest crosses 95% of the market-wide position limits. The ban lifts when the open interest falls below 80%. Meanwhile, the Karnataka assembly election, Q4 earnings and US inflation data are being closely monitored by investors.

Foreign portfolio investors continued to be net buyers in the domestic market, investing Rs 1,942 crore on Tuesday. DIIs net bought shares worth Rs 405 crore.

Three stocks, BHEL, Gujarat Narmada Valley Fertilizers and Chemicals, and Manappuram Finance, are under futures and options (F&O) ban as their open interests rose above the prescribed percentage. Traders who deal in indices are not affected by the security ban, but open interest or market-wide position limits of any stock exceeding 95% of F&O prompts a ban which is lifted only when this percentage drops below 80%. The market-wide position limit for Delta Corp was 97.4% on Monday, while it stood at 92.6% and 89.6% for GNFC and Manappuram Finance, respectively.

Investors would keep an eye on key economic data such as inflation data of India, the US and China along with UK GDP data and BoE interest rate during the week.

Investors cashed in on their recent profits. BHEL's stock has rallied 19 percent in the past one month.

Coal India Ltd (CIL) plans to invest Rs 91,000 crore in various projects, including coal gasification, mining developers-cum-operators (MDOs), diversification and mine development, by 2025-26, according to P M Prasad, the newly-appointed chairman and managing director of CIL-arm Central Coalfields Ltd (CCL). CIL has already identified 15 projects with a total capacity of 168.58 MT per annum, of which nine have been given Letters of Award.

The Indian markets closed in the negative zone on Wednesday in line with weak international cues. The S&P BSE Sensex ended the day down by more than 100 points, while Nifty50 maintained the level of 18,000 points. The telecom, IT, oil & gas, and energy sectors saw selling, while FMCG, realty, and consumer durable shares witnessed buying. Apar Industries and BHEL both closed out with more than 4% gains, and Interglobe Aviation was up by more than 6%.

Analyst Shilpa Rout suggests buying Oracle Financial Services Software (OFSS) and Chambal Fertilisers on dips. OFSS has been consolidating above Rs 3,600 and is expected to reach targets of Rs 3,700 and above with a stop loss of around Rs 3,620 for intraday. Chambal Fertilisers is experiencing a good breakout and can be bought with a stop loss of Rs 280, targeting Rs 325-330 zones. The market is expected to remain bullish, with minor dips presenting buying opportunities.

The trading volumes remained strong for yet another session and the stock is few rupees away from its previous swing high or 52-week high of Rs 91.55 in December last year.

State-owned railway firms, including Rail Vikas Nigam (RVNL), Indian Railway Finance Corp. (IRFC), and Ircon International, extended their gains on the bourses on Tuesday amid expectations of increased capital expenditure on railway infrastructure in India. The rise in railway shares reflects the expansion of the sector through projects including electrification, new lines, and signalling.

State-owned railway firms, including Rail Vikas Nigam (RVNL), Indian Railway Finance Corp. (IRFC), and Ircon International, extended their gains on the bourses on Tuesday amid expectations of increased capital expenditure on railway infrastructure in India. The rise in railway shares reflects the expansion of the sector through projects including electrification, new lines, and signalling.

The long-term capital gains tax on mutual funds is 10%, which makes investment in dividend yield funds more tax efficient," Rupesh Bhansali said.

For instance, the FPI holding in construction firm NCC has increased from 8.89% in March 2022 to 19.96% in March 2023. According to Bloomberg analyst consensus estimates, the stock can yield nearly 15% in a year.

Morgan Stanley maintains an 'overweight' rating on Indian Hotels with a target price of Rs 388. Kotak Institutional Equities retains its ‘buy call on Tata Chemicals with a target price of Rs 1,210.

If, instead of foreign holidays, you prefer to travel within India, heres a series to help you plan the best vacations in each of the 28 states and 8 Union Territories. We highlight tourist attractions, culinary choices, modes of travel, and the costs involved. In the 14th part of the series, ET Wealth takes you to Maharashtra.