The Indian market is expected to trade higher on Tuesday, supported by positive global cues. However, market volatility, as indicated by the India VIX, suggests bearish momentum with resistance levels at 23,900-24,000. Experts recommend caution, advising "sell on rallies" unless Nifty closes above 24,000. Stocks for short-term trading include Dr Reddy's Laboratories, Eicher Motors, and Bajaj Finance.
A total of 169,469 shares changed hands on the counter till 10:00AM (IST)
The stock has doubled investors’ wealth in a year, rising from Rs 359 on January 3, 2024, to Rs 777 on January 3, 2025. It gained over 6% in the past three months and 5% in a month. Testing its 50-DMA in December, it broke out above Rs 770. Experts suggest holding long positions as long as it trades above Rs 720.
The Nifty Realty index was trading 0.25 per cent at 1014.55.
An Air India flight (AI 2820) bound for Delhi made an emergency landing on Sunday after one of its engines shut off midair. The flight had departed from Kempegowda International Airport in Bengaluru at around 7 PM but returned about an hour later after circling the city. No details on the technical issue were provided, but it was confirmed that all passengers were safe and no incidents occurred.
Motilal Oswal Financial Services gives a buy call on Marico Ltd. with a target price of Rs 750. Marico reported a consolidated total income of Rs 2746 crore for Q2 FY25, with net profit of Rs 433 crore. The company shows steady demand trends and is on track for double-digit revenue growth.
This can indicate potential upward movement and may be used by traders to identify buying opportunities.
Asian middle class growth is slowing, with countries like Indonesia, China, and India facing financial setbacks. While Asia has made significant economic strides in the past decades, many challenges remain. Effective government policies are essential to sustain the middle class and attract foreign investments.
The ITI stock has shown strong momentum since the end of October, consistently reaching higher highs and lower lows. It has delivered a return of 155% since the end of October and 45% in the last 7 days alone.
Elon Musk's controversial social media posts about British politics have created a stir, targeting Prime Minister Keir Starmer, supporting far-right agitator Tommy Robinson, and criticizing Nigel Farage. Musk's influence on UK politics raises concerns, drawing negative attention and disrupting political discussions.
Justin Trudeau's resignation as Prime Minister of Canada marks a significant shift in the country's leadership at a time when relations with India have reached a critical point. Trudeau's handling of the Canada-India relationship, especially concerning the allegations surrounding the killing of Hardeep Singh Nijjar, has strained diplomatic ties. As the Liberal Party prepares to elect a new leader, questions arise about how the leadership transition will impact Canada-India relations, trade, and immigration.
Kalyan Jewellers share price: Kalyan Jewellers experienced significant revenue growth of 41% YoY for Q3 2024 in India, driven by festive and wedding demand. The company launched 24 new showrooms and saw substantial growth in the Middle East and digital platform, Candere. Plans for FY 2026 include launching 170 showrooms across various markets.
India's quick commerce sector is expected to grow 75% YoY in 2025, expanding beyond groceries into new categories and cities, particularly tier-2 and smaller cities. The sector’s advantages—proximity, competitive pricing, and wide selection of products—are driving its popularity. D2C brands and FMCG companies are thriving on quick commerce platforms, reshaping India's retail landscape.
Ashoka Buildcon share price: Ashoka Buildcon's wholly-owned subsidiary signed a concession agreement with NHAI for a Rs 1,391 crore project to develop a four-lane economic corridor in West Bengal. Despite significant selling in sectors like oil & gas and FMCG, FIIs turned net buyers in December. Ashoka Buildcon shares surged 94% over the past year, with a target price of Rs 279.
Small cap mutual funds invest in very small companies or their stocks. According to the Sebi mandate, small cap funds must invest in companies that are ranked below 250 in terms of market capitalisation. These schemes also will have to invest at least 65% in small cap stocks.
Canadian Prime Minister Justin Trudeau has announced his resignation. He will remain in office until his successor is elected by March 24. Several contenders, including Anita Anand, Melanie Joly, Chrystia Freeland, Mark Carney, and Francois-Philippe Champagne, are potential replacements. The Liberal Party, facing internal pressure and upcoming general elections, is likely to be defeated.
Sensex and Nifty50 traded higher on Tuesday, rebounding from their worst session in three months. This was driven by gains in banking, IT, and energy stocks. Major stocks like Titan, Power Grid, and IndusInd Bank saw significant gains. The corporate results season starts later this week. Experts suggest there may be a market rebound.
Axis Securities recommends buying ICICI Bank shares with a target price of Rs 1,500. The current price is Rs 1275.9. ICICI Bank's consistent strong performance is expected, supported by strong business growth, fee income focus, controlled costs, asset quality, and adequate capitalisation. The primary risk is a slowdown in credit growth due to deposit mobilisation lag.
FIIs turned net buyers overall for the month, purchasing Indian equities worth Rs 15,446 crore, marking a sharp reversal from their net selling of Rs 21,611 crore in November 2024.
Healthtech startup Consint.AI raised Rs 5 crore in funding from Equanimity Ventures and Seafund. The funds will be used to help scale operations, enhance fraud detection, optimize claims processing, and develop a generative AI Feature Suite for its Health AI Platform. The company will also expand its team, infrastructure, and R&D efforts.
The 99acres Real Estate segment showed notable growth, with quarterly billings reaching Rs 102.6 crore in Q3 FY24, marking a 15.7% increase from Rs 88.4 crore in Q3 FY23. For the nine-month period, billings totaled Rs 290.9 crore, reflecting a 14.5% rise from Rs 254.1 crore.
Foreign institutional investors have significantly increased their investment in Indian IT stocks, anticipating improved revenue growth driven by macroeconomic stability and the anticipated US rate cuts. Analysts predict strong performances from HCL Tech, Coforge, and Persistent, with Infosys, Wipro, and LTIMindtree being top picks.
HDFC Securities recommends buying Jyothy Labs with a target price of Rs 600. Jyothy Labs aims for volume growth of 5-6% in 3QFY25. The company will focus on liquid detergent market, dishwashing business, and household insecticides. Promoter stake is 62.89% as of September 2024. The market cap is Rs 14614.90 crore.