Capital Group held a 2.22% stake in the company as on March 31, 2024. In December last year, Capital Group divested a 3.14% stake in Mankind Pharma.

The BlackRock Investment Institute (BII) said on Tuesday that recent parliamentary elections in Britain had made valuation of UK equities attractive, while Japan stocks remained its favoured equity investment play.

Benchmark indices Sensex and Nifty rebounded on Tuesday, hitting their fresh record closing levels on the back of gains in auto and FMCG shares and foreign fund inflows. The 30-share Sensex climbed 391 points or 0.49% to settle at a new closing peak of 80,352. The NSE Nifty went up by 113 points or 0.46% to 24,433.20 -- its record closing high. "The underlying trend of Nifty continues to be positive. Having moved above the key overhead resistance of 24,400 levels (1.618% Fibonacci extension), the Nifty could now advance towards another important resistance of 24,960 levels (1.786% Fibonacci extension) in the near term. Immediate support is at 24,250 levels," said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.Here are 6 stock recommendations for Wednesday:

The US Federal Reserve is making "modest" progress in its inflation fight, the head of the US central bank told lawmakers Tuesday, on the first of two days of testimony in Congress. Speaking in Washington on Tuesday, Fed Chair Jerome Powell told lawmakers on the Senate Banking Committee that the most recent readings "have shown some modest further progress" since the first quarter of the year.

At 9:34 a.m. ET, Dow e-minis had decreased by 58 points (0.15%), while S&P 500 e-minis had risen by 13.75 points (0.24%), and Nasdaq 100 e-minis had increased by 102.75 points (0.5%).

Capital markets regulator Sebi on Tuesday said it has sought public views on the proposed amendments to the master circulars for REITs and InvITs. In a consultation paper, Sebi said these amendments will provide clarity on the nomination rights of directors to the boards of REIT (Real Estate Investment Trusts) and InvIT (Infrastructure Investment Trusts) managers.

The strong hybrid vehicles are equipped with a combustion engine and an electric motor and they can either work together or independently based on driving conditions. During low-speed driving, the electric motor can power the car while the engine comes into picture during high-speed driving.

Indian market bounced back to hit fresh record highs on Tuesday tracking positive global cues. The S&P BSE Sensex hit a high of 80,397 while the Nifty50 hit a lifetime high of 24,443.Sectorally, buying was seen in healthcare, FMCG, realty, consumer durables and auto while selling was seen in energy, CPSE, telecom and oil & gas stocks.Stocks that hit fresh record highs include names like CESC which was up more than 5%, Emami closed with gains of more than 3%, and Welspun Corp closed with gains of more than 5% to hit fresh record highs on Tuesday.We spoke to an analyst on how one should look at these stocks the next trading day entirely from an educational point of view: Analyst: Ankit Choudhary Co-Founder, Financial Independence Services, SEBI Registered Investment Advisors, Registration Number - INA100008939.

Nifty's upward momentum is expected to continue after surpassing the key resistance level of 24,400. According to Nagaraj Shetti of HDFC Securities, the index could reach 24,960 in the near term, with immediate support at 24,250.

Short covering refers to the buying of shares in order to close an existing short position or a position that has been sold. Short covering signals a shift in view on security from extreme bearishness to bullishness. In Tuesday's trading session, five stocks saw top short covering. Here's the list:

Long unwinding refers to the selling of positions or stocks owned for a longer period either to book profit or to exit it in anticipation of impending bearishness. In Tuesday's trading session, five stocks witnessed a long unwinding. Here's the list:

Maruti Suzuki and consumer stocks kept D-Street benchmarks on track to continue their post-election rally. The 30-share Sensex advanced 391 points to settle at 80,352. The broader NSE Nifty gained 113 points to top 24,430. A strong macroeconomic growth outlook and steady return of foreign inflows also boosted investor sentiments.

One of the common things which can be heard these days is “ Nifty and sensex has moved so high, how far it will move”. Now there is no counter to such statements because of the fact that corrections can come any time. But there is another fact that this statement was equally applicable when Nifty was at 20,000 and sensex was at 70,000.

The Nifty Bank rose nearly 100 points to close at 52,517 while the Nifty50 hit fresh record highs above 24,400 levels. HDFC Bank, SBI, PNB and ICICI Bank closed with gains while selling was seen in AU Small Finance Bank, Kotak Bank, IDFC First Bank and Bandhan Bank.

Stocks witness significant short positions as traders bet on price drops. RBL Bank, Godrej Properties and Ambuja Cements see open interest rise amidst price declines.

GM Breweries (GMBL) posted a Q1FY25 profit of Rs 24.94 crore and Rs 600.59 crore revenue, up 25% and 3%. Total income Rs 604.22 crore, up 4% YoY. Largest in Maharashtra’s country liquor (CL) market, owns GM Santra, GM Doctor, GM Limbu Punch, GM Dilbahar Sounf.

Indian benchmark equity indices NSE Nifty50 resumed its rally to all-time highs after two sessions, led by car maker Maruti Suzuki. Meanwhile, in Tuesday's trading session, five largecap stocks from the Nifty 200 index hit new 52-week highs. Here's the list:

India’s consideration to ease rice export limits surged KRBL shares by 13%, LT Foods to a 52-week high, and Kohinoor Foods by 11%. Plans include fixed duties on white rice, scrapping 20% parboiled rice tax. Indian exports hit 2.9 million tons this fiscal year; monsoon season planting is critical for West Africa and Middle East reliance.

Among the above-mentioned peers, RVNL is followed by Ircon International with a market capitalization of Rs 29,179.5 crore, Jupiter Wagons and Titagarh Rail Systems with a market cap of Rs 28,965.69 crore and Rs 23,920.08 crore respectively.

Hotel stocks have performed exceptionally well over the past 1-year, particularly those with a market capitalization exceeding Rs 2000 crore, 8 of them have shown gains ranging from 30% to 160%. Our focus was on companies that achieved double digit growth in both sales and profits during the March quarter compared to the same quarter previous year. Among them, six hotel stocks met these criteria, with EIH standing out as a multibagger in just one year (Source: ACE Equity). Notably, all six stocks show strong strengthening indicators in Trendlyne's SWOT analysis

India's financial shift includes 13.6 crore investors, about 10% affluent, driven by SEBI and smartphones. Participation extends beyond Maharashtra and Gujarat to states like Uttar Pradesh and Madhya Pradesh. Individual investor opinions shape economic policies. Retail investors hold an 18.5% listed share, contributing ₹25,000 crore via Securities Transaction Tax, despite risky leveraged positions.

While it might still not be making it to the headline, there has been a clear change in the stance for IT stocks post election results. After a long phase of underperformance the stocks are making a comeback. Because at this point of time, no one is able to assign any reason why this is happening, so there is no narrative on the street. The fact is that price action precedes the narrative. One bit of positive commentary on Q1 results and there will be no dearth of narratives. Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members.

Jupiter Wagons' shares dropped 4% following approval for a qualified institutional placement at Rs 689.47 per share. The company reported a significant increase in profits and revenue for the latest quarter.

India’s consideration to ease rice export limits surged KRBL shares by 13%, LT Foods to a 52-week high, and Kohinoor Foods by 11%. Plans include fixed duties on white rice, scrapping 20% parboiled rice tax. Indian exports hit 2.9 million tons this fiscal year; monsoon season planting is critical for West Africa and Middle East reliance.

Tea stocks soar as prices spike due to heatwave and floods, reaching new highs. India's struggling tea industry could benefit from the surge, but financially weak producers still face challenges.

A political showdown between Donald Trump and Joe Biden sets up a high-stakes battle in the US. With economic growth, inflation, and job statistics at play, the fate of the dollar and equities hangs in the balance.

Foreign investors drove record highs in Indian stocks, buying $4 billion since June. Modi policy concerns eased as NSE Nifty 50 hit new highs. Strong domestic flows and possible central bank rate easing bolstered economic confidence, notes HDFC’s Deepak Jasani. China’s uneven recovery and US election risks supported India’s $28 billion domestic inflows.

Indian banks are forecasted to experience softer growth in the June quarter, with 14-16% earnings growth YoY. Motilal Oswal predicts NII growth for HDFC Bank by 28%, ICICI Bank by 7%, and Kotak by 15%. Axis Securities sees public sector lenders growing 11% YoY. Asset quality remains steady.

Affle (India) shares surged 7% to Rs 1,461.1 on BSE after Citi initiated a 'Buy' rating with a target price of Rs 1,600, suggesting a 17% potential upside. Citi expects Affle to benefit from rising mobile-ad budgets in India and EM.

As Indian stock markets continue their upward trend, several stocks show potential for higher gains, benefiting investors. Taking into account factors such as company stability, industry dynamics, and management quality, domestic brokerage firm KRChoksey has a strong conviction on 6 stocks. These are the 6 stock ideas from KRChoksey:

The crossing above Rs. 6000 levels resulted in initiating a smart upmove for LINDEINDIA; the stock tested the high of Rs. 9935 in May. After this, the stock took a breather and consolidated in a measured range over the past week.

Maruti Suzuki shares rise by 6% as UP government waives off registration tax on hybrid cars, offering potential benefits up to Rs 3.5 lakh for customers and leading companies. UP witnesses a significant increase in retail sales of passenger vehicles. The move aims to promote environment-friendly vehicles in the state.

TCS forecasts an 8% YoY rise in net profit to Rs 11,984 crore, driven by order signings, BFSI, and retail. Revenue estimated at Rs 62,234 crore. Q1 results on July 11. Brokerages like PL, ICICI Securities, and Kotak provided various estimates. Key factors: EBIT margin, wage revision, campus hiring, dollar revenues, financial services, telecom, EBITDA, deal wins, and visa costs.

If you follow the investment philosophy of Warren Buffett, chairman and CEO of Berkshire Hathaway and one of the best stock pickers in world history, a custom screen by MarketSmith could prove useful. This filter lists Indian stocks aligned with Buffettology principles. Here are 5 stocks that match Warren Buffett’s style of investing, as listed on MarketSmith:

Mphasis announced a dividend of Rs 55 per share for eligible shareholders for Q4FY24. Today is the last day to buy shares to qualify for the dividend payment. Shareholders have been consistently rewarded over the years.

HDFC Life Insurance Company shows signs of momentum as it nears the 200-DMA level. Traders advised to watch for a breakout above Rs 612 for potential further gains. Experts suggest a short-covering rally towards Rs 720-Rs 750 levels.

PG Electroplast has announced July 10 as the record date for its 10:1 stock split. Investors need to buy shares today to qualify for the split, which aims to increase liquidity and shareholder base.

Indian indices rose as markets expected dovish signals from U.S. Fed Chair Powell. Sensex up 223 points to 80,184, Nifty50 up 59 points. Key gainers included Maruti Suzuki, M&M, Adani Ports, while Tech Mahindra, JSW Steel fell. Soft inflation increased odds of U.S. rate cut to 74%. Century Textiles rose 4%. Budget, Q1 results closely watched.

Citi maintains a sell rating on Persistent (TP: Rs 3,080). Q1 shows strong growth but expects sequential margin decline, with Q2 at risk due to wage hikes. Market worries over FY25 margins and stable TCV. Despite a 24% rise, stock beats IT index by 17%. UBS reiterates buy on Dr. Lal Path Labs (TP: Rs 3,500). Potential growth reinvestment not priced in, Tier-3 markets perform well.

Dalal Street anticipates Finance Minister Nirmala Sitharaman to maintain the capex agenda and fiscal discipline. PSU stocks in railways and defence sectors lead with up to 77% returns in a month. Pre-Budget optimism propels PSU stocks to record highs, despite concerns over stretched valuations. The rally is driven by 'Modi stocks,' linked to capex and infrastructure sectors.

The crossing above Rs. 6000 levels resulted in initiating a smart upmove for LINDEINDIA; the stock tested the high of Rs. 9935 in May. After this, the stock took a breather and consolidated in a measured range over the past week.

Japan's Nikkei reached a record high as chip-related stocks followed U.S. peers. Investors anticipate Powell's speech for rate insights. Market sees increased likelihood of rate cut by September. Tokyo Electron and Advantest lead gains while bank stocks dip. Topix up 0.62% amid ETF payout concerns.

It is clear both indices, nifty, sensex and market breadth are under the control of bulls. As indices form new highs, probably we are going to see a phase, where the momentum itself becomes fuel to fresh money coming to the markets. The profit booking which may take place is likely to make index moving in sideways range. One or the other sector which forms part of the indices will keep coming and witnessing up move or down move on a rotational basis. One day IT stocks will handle the decline, other day it would be banks and the balance is maintained. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.

Sensex and Nifty ended flat. Tata Motors rose 0.93%, gaining 182%, supported by averages and EPS, and in accumulation phase. Avoid Adani Wilmar despite its 1.92% rise. PC Jewellers jumped 10%, rebounding off the 50-day average and hitting strong RSI levels. Target for Tata Motors is 1170. Recommendations for these stocks vary.

The SEC will redraft swing pricing rules for open-end funds, originally met with objections. The 2022 proposal aimed to address market stresses, like during the coronavirus pandemic. Requirements included a seven-day liquidity standard. Chair Gary Gensler consulted banking regulators. BlackRock, Vanguard, and Fidelity previously saw a similar rule scrapped for money market funds, as it jeopardized investments.

The NSE 500 index sees 86% of stocks trading above the 200-DMA, indicating a strong bullish trend. Analysts suggest potential minor corrections but no significant reversal expected soon. Fifth bull run in Nifty 500 continues.

India's stock indices saw record gains in 2024, signaling an ageing bull market. Investors exhibit 'bear fatigue,' with Reliance Industries leading. Despite positive cycles, fine-tuning portfolios and risk management is key. Interest rates by the US Federal Reserve and potential Black Swan events could impact the market, reinforcing the need for cautious investment strategies, particularly in smaller shares.

The S&P 500 and Nasdaq hit records, boosted by Nvidia, Intel, and AMD. Investors await inflation data, Powell's semiannual testimony, and earnings from Citigroup, JPMorgan Chase, and Wells Fargo. Concerns grow over labor markets and rate cuts. Declines in communication services and energy; Paramount merged with Skydance; Boeing resolves fraud investigation.

The Enforcement Directorate is investigating technology firms and unicorns for violating FEMA through offshore fundraising tactics. The 'gift' of shares to Indian founders is under scrutiny, raising concerns over overseas direct investment. Indian promoters are being questioned and may need to explain past transactions.

Domestic markets closed unchanged as investors brace for earnings season. Analysts predict a consolidation phase with stable input prices. Global markets show mixed movements. Foreign investors turn net buyers. Rupee ends slightly lower against the US dollar.