Jun 27, 2024, 3:13 pm IST
Titagarh Rail Shares Jump As BlackRock Buys More Than 9 Lakh shares
Titagarh Rail Systems shares have been witnessing sharp rally for the last 2-days and scaled new peak of Rs 1896.50 per share. Titagarh Rail Systems shares today hit fresh 52-week high after BlackRock Global Emerging Markets Fund's acquisition of over 9.46 lakh shares via block deals on Wednesday. In last 1-week only, Titagarh Rail Systems shares surged 21.86% and offered attractive return of 260% in last 1-year.
Jun 27, 2024, 2:52 pm IST
Whirlpool Of India Ltd Shares Jump 8%, Here Is Why?
Whirlpool Of India Ltd Shares today gained 8% intraday to Rs 1984.05 per share after reports surfaced that German engineering group Robert Bosch is planning a bid for the US appliances manufacturer.
The latest move is likely to assist Bosch strengthen its position in the household appliances market at a time when the competition with Asian rivals is heating up, according to Reuters report dated June 26, 2024. According to the report, the German company has been discussing the possibility of making an offer for Whirlpool. Whirlpool Of India shares gained 63% in last 3-months. The company has a market capitalisation of Rs 25,171.01 crore.
Jun 27, 2024, 2:28 pm IST
Gold Price In India, June 28: Gold Falls For 2nd Consecutive Day, Check Latest Prices
Gold prices India today declined for second consecutive day as investors are looking forward to US inflation data for insights into how early Federal Reserve will slash interest rates. 22K gold prices today declined by Rs 250 to Rs 65,750/10 grams while 100 grams of 22 carat yellow metal prices today fell by Rs 2500 to 6,57,500. 24k precious metal prices today slipped by Rs 270 to Rs 71,730/10 grams and 100 grams of 24 carat gold prices in India dived by Rs 2,700 to Rs 7,17,300.
18K gold prices today got cheaper by Rs 200 to Rs 53,800/10 grams and 100 grams of 18 carat yellow metal prices today are retailing at Rs 5,38,000 after falling by Rs 2000.
According to Reuters, “the ascent by the U.S. dollar accompanied by rising bond yields have left the gold price swimming against the tide,” said Tim Waterer, chief market analyst at KCM Trade.
Spot Gold, Spot Silver Prices Today: Spot gold remained unchanged at ,298.88 per ounce, as of 0127 GMT. Bullion remained at its lowest since June 10 on Wednesday. US gold futures fell 0.2% at ,309.60. Spot silver surged 0.1% to .78 per ounce, platinum was up 0.1% to ,011.65 and palladium lost 0.6% to 2.94. Spot gold may keep slipping into a range of ,275-,286 per ounce, as it is riding on a steady downtrend, according to Reuters.
Jun 27, 2024, 2:00 pm IST
Market Outlook Today By Trivesh, COO Tradejini
As the Sensex breaks the 79,000 mark for the first time, it signals a healthy and sustained confidence in the Indian market, underpinned by strong fundamentals in key sectors. Benchmark indices rallied on Thursday, reversing earlier declines, driven by strong buying in blue-chip companies. This surge propelled the Sensex past the historic 79,000 barrier and led the Nifty to a new all-time high. The Nifty 50 index also achieved a significant milestone, surpassing 24,000 for the first time on June 27. Remarkably, it took only 23 sessions to rise from 23,000 to 24,000, compared to the 88 sessions it previously took to move from 22,000 to 23,000 in May 2024. This accelerated growth, despite concerns over valuation, suggests a bullish outlook for the Indian market. The current momentum indicates that the Sensex might soon touch another level, before the Union Budget. Large-cap stocks, particularly in banking and telecom sectors, are driving this upward trend with their solid fundamentals, reflecting positive market sentiment and investor confidence. Going forward, these sectors are likely to continue supporting the market's growth trajectory.
Jun 27, 2024, 1:47 pm IST
Coforge Shares In Focus
Global supplier of digital services and solutions Coforge Limited (NSE: COFORGE) has won the 'Exceptional Performance' title in the esteemed 2024 UK IT Sourcing Study conducted by Whitelane Research.
Jun 27, 2024, 1:36 pm IST
Jubilant Industries Shares In Focus
The Board of Directors of the company has approved the appointment of Mohandeep Singh (DIN: 10661432) as an additional director designated as Chief Executive Officer and Managing Director of the company with effect from June 27, 2024, for a period of 5 years, i.e., up to June 26, 2029.
Jun 27, 2024, 1:16 pm IST
Mahindra & Mahindra Shares In Focus
Dr. Anish Shah, the company's managing director and chief executive officer, sold 73,477 equity shares on Wednesday, according to details provided to stock exchanges by the company. He plans on using the bulk of the sale's proceeds to pay the taxes that will be due when ESOPs that have vested or will vest this year are exercised.
Jun 27, 2024, 1:00 pm IST
Bharti Airtel Shares In Focus
One of India's top data centre providers, Nxtra by Airtel, has pledged to source only renewable power and joined the RE100 initiative, a global flagship project run by Climate Group in collaboration with CDP. Nxtra has now committed to being a net-zero firm by 2031 and is the only data centre organisation in India to have committed to RE100. It is also the 14th Indian company to reach this milestone, demonstrating its dedication to environmental sustainability.
Jun 27, 2024, 12:45 pm IST
Hitachi Payment Services Receives RBI’s Nod For Online Payment Aggregator Licence
The Reserve Bank of India (RBI) has granted Hitachi Payment Services, the country's leading provider of end-to-end payments and commerce solutions, final authorization to operate as an online payment aggregator in accordance with the Payments and Settlement Systems Act, 2007.
Jun 27, 2024, 12:33 pm IST
C.E. Info Systems | Location Intelligence’s Cambrian Explosion
Abhishek Kumar of JM Financial Institutional Securities said, “Location intelligence (LI) – analysis and visualisation of geo spatial data - is becoming pervasive. Use cases in automotive have evolved from plain navigation to N-CASE. Non-automotive use cases have proliferated. LI has turned into a sector-agnostic horizontal SaaS play. With a mere c.11% attach rate in Auto and sub-20% penetration in enterprises, the headroom for LI’s growth in India is substantial. Unsurprisingly, LI’s revenue potential in India is pegged at USD 1bn+. MapMyIndia (MMI) - India’s leading Location Intelligence Provider (LIP) – has c.80% volume share in Auto OEMs and a growing presence in enterprise/government sectors. Our in depth study on mapping technology suggests the moat in this business is as much tech as it is geographical coverage and data richness. The presence of local champions in other countries - Zenrin in Japan, Naver in Korea - supports the findings. Data protection laws help too. MMI’s coverage (99% of India’s geo) with unmatched detailing provides it greater right to win. The new geospatial policy is a shot in the arm. Besides, its micro innovations and customised offerings make MMI the best product-market-fit for India, in our view. The wins against global leaders Tom Tom and Here are cases in point. We find MMI’s target of achieving INR 10bn+ revenue target by FY27/28 achievable. We estimate 32/32% revenue/EPS CAGR over FY24-28E. MMI, we believe, is a play on EV, e-Commerce and digital transformation of enterprises - all at once. We, therefore, anchor our valuation of MMI to global horizontal SaaS players (Snowflake etc.). We initiate coverage on the stock with a BUY rating and a TP of INR 2,900, implying 27% upside. Higher competitive intensity (OLA Maps) and margin contraction due to higher share of hardware sales are key risks.”
Jun 27, 2024, 12:19 pm IST
Market Outlook Today By Aditya Gaggar, Director of Progressive Shares
Select buying in heavyweight counters helped the Index to end the session at yet another record level of 23,869. The Index has been performing as per our expectations but a profit-booking correction can be seen because the ongoing rally is on a weak foot and is mainly driven by select heavyweights. The same action is also anticipated in BankNifty where 52,000 will serve as a strong support. With an extremely overbought reading in the Auto sector, we continue to hold our stance of correction in the form of profit booking (2W &3W); however, buying interest can be seen in the Ancillary stocks. Heavyweight Reliance-led rally pushed the Energy sector higher, sustainability of the momentum will depend on follow-up buying. Britannia (Falling Wedge Breakout) and GodrejCP (Channel Breakout) look strong in the FMCG segment. Some more downside is still left in the Metal and Realty sectors. Agro/Specialty Chemicals and Textile stocks are gaining momentum, so one should keep an eye on the same.
Jun 27, 2024, 12:06 pm IST
Allied Blenders & Distillers IPO Subscribed 2x On Final Day
On the third and final day of bidding, the initial public offering (IPO) of Allied Blenders and Distillers was subscribed twice over. Investors bid for nearly 8 crore equity shares, surpassing the offer size of 3.93 crore shares, according to exchange data. The Officer's Choice whisky maker aims to raise Rs 1,500 crore through the public issue, which includes a fresh issuance of shares worth Rs 1,000 crore and an offer-for-sale (OFS) of shares worth Rs 500 crore by promoters.
Jun 27, 2024, 11:45 am IST
Whirlpool India Stock Soars On Bosch Takeover Speculation
Shares of Whirlpool India surged over 9% on June 27 following reports that German engineering group Robert Bosch is contemplating a bid for the US appliances manufacturer Whirlpool. This potential acquisition would bolster Bosch's position in the household appliances market amid intensifying competition with Asian rivals, as reported by Reuters on June 26.
Jun 27, 2024, 11:40 am IST
Rail Vikas Nigam JV Secures Major Signaling Project
The KRDCL-RVNL joint venture has secured a Letter of Acceptance from Southern Railway for a project valued at Rs 156.47 crore. This project involves the implementation of automatic signaling on the Ernakulam JN (ERS) - Vallattol Nagar (VTK) section of the B-Route in the Thiruvananthapuram division of Southern Railway.
Jun 27, 2024, 11:09 am IST
SENSEX Updates
Stock Market Live Updates
Jun 27, 2024, 10:57 am IST
Top Gainers and Losers Today
SENSEX and NIFTY Live Updates
Jun 27, 2024, 10:44 am IST
Bharti Airtel and Dialog Complete Share Swap Transaction
Bharti Airtel, Dialog Axiata PLC, and Axiata Group Berhad have successfully completed the share swap transaction involving Bharti Airtel Lanka and Dialog. As a result of this transaction, Dialog now holds 100% of Airtel Lanka, while Bharti Airtel has acquired a 10.355% stake in Dialog.
Jun 27, 2024, 10:43 am IST
Bharti Airtel, Reliance Jio & Vodafone Idea Secure New Spectrum In Recent Auction
In the latest spectrum auction, Bharti Airtel has acquired 97 MHz of spectrum across the 900 MHz, 1,800 MHz, and 2,100 MHz frequency bands for Rs 6,857 crore.
Reliance Jio, a subsidiary of Reliance Industries, secured 14.4 MHz of spectrum in the 1,800 MHz frequency band for Rs 973.62 crore.
Vodafone Idea also participated in the auction, acquiring 30 MHz of spectrum in the 900 MHz, 1,800 MHz, and 2,500 MHz frequency bands for Rs 3,510 crore.
Jun 27, 2024, 10:42 am IST
KEC International Shares Surge 5% On Rs 1,025 Crore Order Win
KEC International's shares rose by 5% in early trade on June 27, following the company's announcement of securing new orders worth Rs 1,025 crore in its Transmission & Distribution (T&D) and Cables businesses.
The T&D division has recently landed significant projects across India, Africa, and the Americas. These projects include a 765 kV GIS Substation in India awarded by Power Grid Corporation of India Limited (PGCIL), a 225 kV Composite project in West Africa involving transmission lines, substations, and underground cabling, as well as contracts for supplying towers, hardware, and poles in the Americas.
In addition to these, KEC International's Cables business has also received orders for various types of cables, serving both domestic and international markets.
Jun 27, 2024, 10:24 am IST
Nifty Updates
Stock Market Live Updates
Jun 27, 2024, 9:49 am IST
SBI Share Price
India's largest PSU lender, State Bank of India (SBI) is buzzing on June 27 after the bank's infrastructure bonds issuance received massive demand of investors. SBI's senior unsecured long term bond issuance oversubscribed by around 4 times. The lender raised about Rs 10,000 crore. SBI share price is currently trading volatile.
Jun 27, 2024, 9:34 am IST
Sensex Range
Sensex opened at 78,758.67, while it ranged from 78771.64 to 78467.34. Top Gainers were Ultratech Cement, JSW Steel, NTPC, Tata Steel, and Kotak Bank.
Jun 27, 2024, 9:34 am IST
Nifty In Early Trade
Nifty opened at 23,881.55, and ranged from 23,887.45 to 23,821.35. Top gainers were Ultratech, Dr Reddy's Lab, Grasim, JSW Steel, and Tata Steel.
Jun 27, 2024, 9:14 am IST
Rupee Opened At 83.55 Level Against US Dollar
The Indian rupee traded at 83.55 level against the US dollar at the forex market in the opening bell. This comes at a time when Japanese Yen rebounded against the greenback after falling the most since 1986. A latest report also stated that rupee has journeyed from most volatile Asian currency to the most stable one, reflecting the country's resilient economic growth. The upcoming Union Budget will influence trend in rupee going forward. The day's range is between 83.516 - 83.657 per dollar.
Jun 27, 2024, 9:14 am IST
Bullish Stocks Likely Today
Prashanth Tapse, Senior VP (Research), Mehta Equities: The unstoppable rally at Dalal Street has lifted Nifty and Sensex to new record highs at 23,889.90 and 78,759.40, respectively, with bulls revising their targets higher. The Nifty’s crucial support stands at 23,557. Anticipate high volatility due to the June derivative contracts expire on June 27th, alongside key economic catalysts such as the US GDP figures for Q1, the May US PCE Price Index, and speeches from Fed’s Barkin and Bowman. The preferred trades are to buy Nifty between 22,700-22,750 with a stop at 23,351, targeting 24,050-24,550, and Bank Nifty between 52,300-52,400 with a stop at 51,061, targeting 53,300-53,900. Bullish stocks include Reliance Industries, Britannia, and RBL Bank, with RBL Bank being a top buy at CMP 258, aiming for targets of 371/385.
Jun 27, 2024, 9:05 am IST
Will Market Be Bullish Today?
Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services: The market will remain bullish in the near-term despite the valuation concerns, and the ongoing momentum has the potential to take the Sensex to 80000 levels. A healthy trend in the market is that now the up move is being led by fundamentally strong largecaps in sectors like banking and telecom. With RIL, which had not participated in the rally till yesterday joining the bull bandwagon, the rally has the strength to continue. But the rise in U.S. bond yield might perhaps trigger some large FII selling in the coming days putting brakes on the rally. So long as the massive domestic liquidity support to the market continues there are no no potential triggers that can cause a sharp correction in the market. PSU banks look attractive from the valuation perspective, and therefore, they have the potential to react positively to good Q1 results.
Jun 27, 2024, 8:45 am IST
Bank Nifty, Bankex Outlook June 27
Prabhudas Lilladher: BankNifty index is well poised for further rise almost reaching the 53000 zone and with the important support maintained near 51000 levels has much scope for upside movement in the coming days with higher targets of 53500 and 55100 levels visible, as mentioned earlier. Bankex continued with the upward trend, making new highs, with most of the frontline banking stocks well poised for further rise. With the 59000 zone maintained as the near-term support, we anticipate further higher targets of the 62000 level in the coming days. BankNifty would have the daily range of 52500- 53400 levels with Bankex support at 59500 and resistance at 60500 levels.
Jun 27, 2024, 8:45 am IST
Sensex Outlook Today
Prabhudas Lilladher: Sensex has formed 3 white soldier patterns on the daily chart and closed above the 1.28% retracement of the recent fall. The index positioned strongly with further rises to the 1.61% retracement level of 80700 in the coming days. The support for the day is seen at 78200/23700 levels, while the resistance is seen at 79200/24000 levels.
Jun 27, 2024, 8:44 am IST
Nifty Forecast Today
Prabhudas Lilladher: Nifty has gained strength since the last 3 sessions to almost touch the 23900 zone, breaching above target of 23800 levels, and is aiming for the next higher target of the 24500 zone in the coming days. The index has elevated its support zone to 23500 levels, and the recent strong and robust move suggests a further rise in the coming days.
Jun 27, 2024, 8:18 am IST
Stocks To BUY On June 27
Sumeet Bagadia, the executive director of Choice Broking, recommended buying two breakout stocks on the basis of technical analysis solely on Thursday, June 27 during the intraday trading session. They are: Buy VSTTILLERS in cash @ Rs 4258.25, stop-loss @ Rs 4099, target @ Rs 4500; Buy VISHNU in cash @ Rs 458.95, stop-loss: @ Rs 440, target @ 485;
Jun 27, 2024, 7:55 am IST
Global Market
Weak Global cues will play a role in influencing the sentiment of market. Asian stocks tumbled sharply after US tech stocks dragged Wall Street due to Micron Technology Inc's guidance was below street estimates for the sector. However, Japanese Yen recovered on Thursday after nosediving to almost 160.9 levels against US dollar, which would be the lowest since 1986.
Jun 27, 2024, 7:54 am IST
Gift Nifty Today
After opening lower to 23,799 and hitting intraday low of 23,785, Gift Nifty is trading marginally up to its intraday high of 23,806. There is a lack of bullish boost in the index.
Jun 27, 2024, 7:54 am IST
Market On Previous Day
Sensex ended at 78,674.25, up by 620.73 points or 0.80% after touching record high of 78,759.4. While Nifty closed at 23,868.80, higher by 147.50 points or 0.62% after hitting new lifetime high of 23,889.90.
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