Market Trading Guide: RVNL, JSW Energy among 6 stock recommendations for Wednesday
On Tuesday, BSE Sensex rose by 123 points while Nifty reached above the 18,600 level, extending its fourth straight day of gains fueled by FII inflows. Financial, banking, capital goods, and industrial shares raised key indices, with FMCG gaining the most points and the metals sector underperforming. The session ended mixed, with analysts suggesting that the uptrend was continuous and consolidation offered an opportunity for new long positions. The report includes various stock recommendations by analysts.
Stocks to buy today: 8 short-term trading ideas by experts for 12 May 2023
The Indian stock markets are poised to consolidate due to muted market sentiments globally. The Nifty50 and the S&P BSE Sensex did not show positive trends on the previous day. The India VIX has been increasing during the last four sessions, leading to fluctuations in the market. Options data suggests trading ranging from 17900 to 18500 zones, and brokers have recommended stocks like Axis Bank, NTPC, Tata Power, Aditya Birla Fashion and Retail, Gujarat State Petronet, coal India, Gujarat Gas, and Hindustan Unilever for traders with a short-term outlook.
Stock picker’s market: Porinju Veliyath’s checklist for buying a stock
Porinju Veliyath, Founder, Equity Intelligence India, believes that only companies that share their wealth with their minority shareholders create market capitalisation. He considers a company's market opportunity and the potential for growth, profitability and valuation, as well as the quality of the management and promoter's track record before deciding to invest. Veliyath is bullish on the potential of smaller companies, especially those perceived to change cultural attitudes toward governance and effective management. He also finds value in oil marketing companies and PSU stocks, which are set to make huge cash flows in the next 10-20 years.
Gujarat defines a dividend formula, state PSUs surge
"The policy is favourable for the shareholders, especially the minority ones," said Nilesh Shah, managing director, Kotak Mahindra AMC. "It gives predictability and clarity to shareholders on how a company will distribute dividends or issue bonus shares."
Ahead of Market: 10 things that will decide stock action on Thursday
Indian equity benchmarks Sensex and Nifty extended their winning streak for the third straight session, backed by IndusInd Bank, Nestle India and HCL Tech, while losses in global equities and continuous foreign fund outflows restricted gains in the market, according to traders. Microsoft drove gains on US equities, while bank worries and the banking sector dragged European shares down, showing their largest drop in a month. Stocks of Power Finance, Gujarat State Petronet, KPIT Technologies and Ambuja Cements carried bullish trends, while Anant Raj, Maruti Suzuki, Muthoot Finance, Macrotech Developers, and Aster DM Healthcare expressed bearish patterns.
Gujarat Titans! State PSUs rally up to 17% on new payout policy
Gujarat state public sector undertakings (PSUs) shares surged up to 17% after the state government implemented a new policy regarding minimum levels of dividend distribution and bonus shares, with the aim of adding to the valuation of Gujarat's PSUs. The state government has made it mandatory that a minimum 30% of profit after tax or 5% of net worth, whichever is higher, must be declared as a minimum level of dividend; this policy aims to bring further clarity to minority shareholders and improve governance.
Trade Spotlight | Your strategy for trading in BPCL, Rallis India and Gujarat State Petronet
BPCL was also in action, rising 2.35 percent to Rs 360 and formed bullish candle with long lower shadow on the daily charts, indicating support-based buying in the stock. The trading volumes remained strong in last three days, with the stock coming back above all key moving averages.
Sectoral Spotlight: IOC, HPCL may gain on crude oil's weakness
The movement in crude oil prices also has a bearing on the upstream companies line Reliance Industries Limited, Oil & Natural Gas Corporation Limited. Gupta said that a rising price trend is beneficial for these companies and they gain from unsold inventory as margins go up.
Avoid Bajaj Finance shares till it sustains above Rs 6,200: Rohan Shah
"Bajaj Finance has cracked below a multi-year upsloping support trendline on relatively higher volumes with a marubuzo candle which amplifies the bearish tone on the weekly timeframe. The relative strength has deteriorated extensively, surpassing below the key support, RSI trends below the median with a negative slope and so does the MACD trailing below the zero line with a negative crossover. "
Hold Petronet LNG, target price Rs 210: ICICI Securities
The combination of weak gas demand, supply shortages caused by geopolitical issues (Gazprom force majeure) and pricing (high spot LNG prices constraining Dahej third party regas offtake) is likely to lead to another weak quarter for GAIL, PLNG and GSPL.
GSPL : +15% Upside Potential for NSE:GSPL by DhirajSinghBais
25 Nov 2022 GSPL
Stock BO of previous TL on 15 Nov 2022 with huge volume, after spending 2 weeks in the zone fresh BO is seen with volume, likely momentum to continue.
• BO/RT done
• Stock has shown a good support @POC around 238 zone
• 76 days of accumulation
• Fresh BO
• CMP 260.45
• Initiate test qty
• Higher targets could be around
o Short Term – 276/296
o Mid to Long Term – 332/379(Important resistance to watch out for 311-326)
Trade Spotlight | What should you do with Gujarat State Petronet, Indoco Remedies, NLC India on Friday?
Indoco Remedies shares rallied more than 7 percent to Rs 415.35 and formed long bullish candle on the daily charts with strong volumes. Overall it has seen a good run up after breaking out long downward sloping resistance trend line adjoining August 12, 2021 and August 3, 2022.
Kotak finds this midcap stock mispriced. Here's why
GSPLs 2Q EBITDA of Rs 333.8 crore ( down 7% QoQ) was 2% ahead of Kotak Institutional Equities estimates. With high gas prices, and also shortfall, the gas supplies to each key segment (except fertiliser) have declined—the worst impacted being the power sector and I&C demand for CGDs (Morbi area, particularly).
Mutual Fund Meter: Top stock picks & exits by MFs in September
The portfolio rejig comes ahead of the September quarter earnings season in which oil and gas and metal companies are expected to drag. “Sectors focused on domestic consumption, investments are likely to outperform the sectors dependent on global demand, cyclicals and commodities,” Motilal Oswal Financial Services said in a report.