Experts suggest short-term traders can target Rs 1,500 for the stock in the next 3-4 weeks. Rising from Rs 468 in December 2023 to Rs 1,444 by December 2024, the stock gained over 200%, hitting a record high of Rs 1,475. The uptrend was confirmed by a Pole and Pennant breakout on the daily charts, a key technical pattern.
In 2024, small companies with market caps of less than Rs 10,000 crore have dominated the top performing IPOs, delivering high returns. Notable outperformers include Jyoti CNC Automation, KRN Heat Exchanger, and Enviro Infra Engineers among others. Big ticket IPOs often face challenges like overvaluation despite the hype.
While the cement sector globally is pushing for a greener future, India has significant opportunities to scale up its renewable energy integration, says Satish Chander, Chief Manufacturing Officer (CMO), Shree Cement.
ICICI Direct sets a target price of Rs 950 for State Bank of India shares. The current market price is Rs 818.1. The firm recommends a stoploss at Rs 163. This target is for the next quarter. State Bank of India reported strong financial results. Its total income increased. Net profit also rose. Promoters, FIIs, and DIIs hold significant stakes.
Shares of Nava Ltd are expected to be in focus on Monday after the ferro-alloy manufacturer received shareholder approval for a stock split, which will reduce the face value of each equity share from Rs 2 to Rs 1. The approval was obtained through a postal ballot process that concluded on December 21, as per an exchange filing.
The cybercrime hotlines in Bengaluru are often found switched off or unanswered. This affects the reporting of cybercrimes despite the city having nine dedicated CEN police stations. Social activist Dushyant Dubey highlighted the issue but received no response from police officials. Complaints involving less than Rs 2 lakh are directed to local police stations instead.
Tata Investment Corporation shares soared up to 8% following reports of Tata Group readying a $2-billion IPO for Tata Capital. The conglomerate has initiated banker appointments, aiming for a public listing by September 2025. Tata Capital has seen increased demand in the unlisted market, reflecting its robust growth and valuation.
Vedanta shares fell 2.6% as they traded ex-dividend on December 24. The company announced an Rs 8.5 per share interim dividend for FY25, bringing the total payout to Rs 16,798 crore. Vedanta reported a Rs 5,603 crore profit for Q3 FY24 despite a 4% decline in revenue.
Indian benchmark indices edged higher as IT and consumer stocks provided support, aided by rupee depreciation. The BSE Sensex fell marginally, while Bharat Electronics and Tata Investment Corporation shares showed gains. However, experts predict that external and internal factors will limit sustained market rallies.
Gold and silver futures remained volatile with gold opening flat at Rs 76,213/10g and silver at Rs 89,299/kg. Prices saw mixed trends due to fluctuating US economic data, dollar index, and geopolitical tensions, with experts forecasting continued volatility.
Bajaj Finserv shares, currently at Rs 1,563.40, are forming a bearish Head & Shoulders pattern with significant volumes, indicating potential further selling pressure. A breach below Rs 1,525 could accelerate the downtrend, with a target around Rs 1,415. The RSI of 32.09 signals a downtrend, and the stock is trading below key moving averages, suggesting continued weakness.
The Reserve Bank of India's Monetary Policy Committee may consider a rate cut in February if food inflation declines in January. Lower food prices could support economic growth, with some members advocating for easing rates. Meanwhile, the Indian rupee faces depreciation pressure due to a strong US dollar.
Burt, the iconic saltwater crocodile from the 1986 movie Crocodile Dundee, has died at the age of 90 at Crocosaurus Cove in Darwin. Known for his fiery temperament and commanding presence, Burt became a symbol of Australia's rugged wildlife. Captured in the 1980s, he appeared in the hit film alongside Paul Hogan and Linda Kozlowski. Crocosaurus Cove has announced plans to honour Burt’s legacy with a commemorative sign.
Gilt mutual funds are not recommended to regular debt investors because they are risky and volatile. Gilt funds suffer the most when the rates go up. The bond prices and yields move in opposite directions. When the rates go up, bond prices come down. This drags down the NAVs of schemes.
On December 23, four stocks saw a significant surge in futures open interest, including JSW Energy, APL Apollo Tubes, Supreme Industries, and Indraprastha Gas, indicating increasing participation in the futures market.
Bajaj Broking sets a target price of Rs 2290 for Prestige Estates. The brokerage anticipates a breakout and continued upward movement. The current market price is Rs 1748.4. The company's recent financial performance includes a total income of Rs 2423.80 crore and a net profit of Rs 245.70 crore. Promoters hold a 60.94% stake in the company.
The Indian market is expected to consolidate on Tuesday, influenced by muted global cues. The Nifty future closed up by 0.60% at 23,768. Options data suggests a trading range of 23,200 to 24,200, with immediate support at 23,500 and resistance at 23,850. Experts recommend several stocks for short-term trading, including United Spirits, Jindal Steel, and Apollo Hospitals.
A Bareilly Court has summoned AIMIM President Asaduddin Owaisi for raising pro-Palestine slogans during his oath as a Member of Parliament. The hearing is set for January 7, 2025. The case was filed by advocate Virendra Gupta, who claims Owaisi violated constitutional and legal norms. Owaisi previously explained his actions by referring to the destitution of people in Palestine.
On December 23, three Nifty50 stocks—ITC, Titan Company, and Trent—appeared in the RSI Trending Up scan, indicating strengthening momentum and potential upward movement in their prices.
The Indian rupee fell to a record low of 85.1625 against the U.S. dollar on Tuesday due to persistent dollar demand from importers and rising U.S. bond yields. The Fed's hawkish stance, India's slowing economic growth, and weak portfolio flows have kept the rupee under pressure for six consecutive sessions.
PG Electroplast shares increased by 4.8% after announcing a deal to manufacture select Whirlpool-branded semi-automatic washing machines. This agreement strengthens their existing relationship, as PGEL already supplies Whirlpool-branded air conditioners. PGEL's shares have seen significant growth, surging 304.7% this year.
Three stocks—Sangam (India), Torrent Power, and Steel Authority of India—appeared in the bullish "White Marubozu" scan on December 23, signaling strong buying pressure and potential price growth.
Mahanagar Telephone Nigam has approved a Voluntary Retirement Scheme (VRS) aimed at reducing employee costs, modeled substantially on the Gujarat Model with a lower ex-gratia ceiling. Employees aged 45 and above can opt for this scheme. The initiative is intended to streamline the organization and decrease staff expenses, according to the company's exchange filing.
BEL Share Price: Bharat Electronics Ltd (BEL) shares increased by 1% after securing new orders worth Rs 973 crore since December 9. This brings BEL’s total order accumulation for FY25 to Rs 9,801 crore. The state-run firm enjoys a solid order book and is on track to meet its full-year order inflow guidance of Rs 25,000 crore.
Motilal Oswal recommends buying Devyani International stock. The target price is Rs 215. The company operates KFC and Pizza Hut. The QSR sector faces challenges. Devyani International plans store expansion. The company aims to improve dine-in and delivery. Average daily sales may recover. The stock price has been stagnant. Promoters hold a significant stake.
