Global brokerage firm CLSA has set a target price of Rs 248 per share for Zomato, acknowledging its lead over IPO-bound Swiggy. In its annual results release, Prosus, with a 32.7% stake in Swiggy, revealed that Swiggy's overall GMV growth, encompassing food delivery, quick commerce, and dining out businesses, was 26% YoY, while Zomato achieved a 32% YoY growth.

Craftsman Automation's stock rose 11% on BSE after a significant MoU with Sunbeam Lightweighting Solutions and Kedaara Capital Fund II for a potential acquisition.

Budget 2024 anticipates positive impacts on various sectors, with potential benefits for consumer goods and affordable housing. The budget may include tax cuts, interest subsidy reintroduction, and stable capital gains tax policies, fostering economic growth and fiscal prudence.

Amara Raja Energy partners with Gotion High-Tech for advanced cell manufacturing, accessing technology, Gigafactory facilities, and battery materials. Collaborations with InoBat strengthen LiB battery development.

Happiest Minds shares decline 9.5% as Ashok Soota likely sells 6% stake, 91.3 lakh shares. Q4FY24 PAT up 24.8%, revenue grows 9.5% YoY. Trading in overbought zone near 71 RSI level.

City Union Bank (CUB) has surged over 20% in 3 months, supported by technical indicators like RSI and MACD. Analyst Shilpa Rout sees a short-covering rally potential above 170 levels with 150 as a key support.

Momentum coming back to select stock from different sectors.

Brokerage firms like Citigroup, JPMorgan, and Bernstein provide ratings on Tech Mahindra, Amara Raja Batteries, and HDFC Bank. ETNow and other sources collated the recommendations, including Citigroup's sell rating on Tech Mahindra with a raised target price.

Within the Nifty pack, UltraTech Cement, HDFC Bank, Divi's Lab, Coal India, and SBI were the top gainers while HCL Tech, Asian Paints, and Titan faced selling pressure. Shares of new-age companies like Paytm, Zomato, and Policybazaar traded higher by around 2% each after Morgan Stanley's bullish note.

As Sebi investigates front-running at Quant Mutual Fund, impacting investors and shareholders, the illegal practice raises acquisition costs, affects NAV, and leads to selling pressure in suspected stocks, potentially affecting fund performance.

Of the last seven trading sessions, in three trading sessions, nifty which opened with a gap or came under pressure after opening has been able to recover and ended the day in positive territory. It is a kind of rotational support coming in from different stocks and sectors. There are banks one day and then they take a back seat and industrials come to support. Is the distribution taking place or is it a kind of consolidation which is taking place and a strong directional move would emerge after the budget that needs to be seen. But in all the cases there is greater chances that it is large cap stocks which will remain in limelight. 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.

Furthermore, if all the cases from the National Cyber Crime Reporting Portal are included, the surge is even higher. Many frauds reported on the portal are not recorded as banking frauds because the money is transferred voluntarily to a third party masquerading as a merchant or service provider.

Internal members maintain hawkish stance on inflation, with Governor Das cautioning against hasty actions for fear of worsening the situation

Asian shares subdued, yen at record low. Nasdaq tumbled, Dow Jones rallied. Chinese stocks slightly higher. U.S. PCE price index awaited. Investors cautious ahead of U.S. price data, U.S. presidential debate, French election.

San Francisco Fed President Daly emphasizes caution in addressing inflation control and rising unemployment risks, highlighting the need to restore price stability without harming the economy.

Real-time dollar settlement in India’s newest financial hub in Gujarat, GIFT City, is set to begin later this year. The service aims to attract foreign investors by streamlining transactions and reducing delays.

Stocks that were in focus include names like Raymond, which rose 3.6%, JK Paper, which gained 4.3%, and MapmyIndia, whose shares declined 4.84% on Monday.

Big U.S. lenders brace for Fed stress tests evaluating capital resilience in economic hardships, impacting returns to investors amid challenges in regional lending and commercial real estate.

"Markets this week will take cues from global macro data points and the progress of the monsoon back home. We expect Nifty to consolidate at the current juncture with a bout of volatility amid monthly derivatives expiry," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.

The Dow reached a one-month high, but the Nasdaq fell over 1% as investors shifted from AI-linked stocks. Federal Reserve rate cuts were anticipated, impacting market movements.

Shares fell 13% over the period, past the 10% threshold that represents a correction. The drop weighed on chipmakers with the Philadelphia Stock Exchange Semiconductor Index falling 3% on Monday. Broadcom Inc. fell 4% while Qualcomm Inc. dropped 5.5% and ARM Holdings Plc slumped 5.8%. US-listed shares of Taiwan Semiconductor Manufacturing Co. shed 3.5%.

Recently, the Reserve Bank of India conducted special audits with banks to verify their holdings of eligible securities for maintaining the liquidity coverage ratio (LCR). This action coincides with the central bank's apprehension regarding potential sudden withdrawals via digital banking channels. Introduced post the 2008 global financial crisis, LCR mandates banks to retain specified amounts of government bonds that can be quickly sold to manage a theoretical 30-day stress period featuring significant cash outflows.

Lenders of Reliance Capital, promoted by Anil Ambani, have submitted an affidavit to the bankruptcy court stating conditions for granting a 90-day extension to the winning bidder, a Hinduja Group entity. The extension would require depositing Rs 2,750 crore into a lender's escrow account and paying 12% interest on the Rs 9,660-crore offer. The National Company Law Tribunal is scheduled to consider Hinduja Group's plea for the extension on Tuesday. Earlier, NCLT had instructed Hinduja Group's IndusInd International Holdings (IIHL) to execute the plan by May 27th.

The Reserve Bank of India's directive to levy penalties only in the form of 'penal charges' is posing a tax dilemma for banks. Banks fear that the indirect tax on such levies would attract the goods and services tax (GST). The new rule, which came into force from April 1, 2024, was brought in by the central bank to ensure "reasonableness and transparency" in disclosure of penal interest. However, banks have asked the tax authorities to spell out their stand on the issue.

The move is likely to guide the bank in succession planning. Bandhan Bank’s founder MD & CEO Chandra Shekhar Ghosh’s tenure will on July 9 while the bank is yet to appoint its next CEO. Singh is former chief general manager of RBI.

India's third largest cement manufacturer Shree Cement announced achieving installed power capacity of 1,000 MW with the commissioning of a 19.5 MW solar power plant at its Andhra Pradesh unit.

"Markets this week will take cues from global macro data points and the progress of the monsoon back home. We expect Nifty to consolidate at the current juncture with a bout of volatility amid monthly derivatives expiry," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.

A part of Muthoot Pappachan Group, the company provides micro loans to women with a focus on rural areas. It had 1,508 branches in 353 districts across 18 states of India as of March 2024. Its AUM grew by 32.4% year-on-year to ₹12,193.5 crore in FY24.

"We see macro factors aligning (multiple re-rating for growth stocks in India and other regions, tight PE/VC money keeping the competitive environment benign) with micro factors (strong execution reflected in market share gains, margin improvement driving profit upgrade cycle) and supporting share prices," said Morgan Stanley's analysts in a client note.

Goldman Sachs India Equity Portfolio, Societe Generale and US-based Verition Multi-Strategy Master Fund were the top buyers at 828 per share. Shares of CarTrade Tech ended 2.33% lower at 836.95 on Monday.

In its June 8 consultation paper, Sebi had sought feedback from market participants for its plan to revise the eligibility criteria for stocks to be a part of the futures and options (F&O) segment. The regulator wants stocks that are part of the derivatives market to be more liquid and traded by a wide set of market participants to prevent manipulation and lower risks to the system.

As the question of stretched valuations continues to swirl through Dalal Street, promoters seem to be firmly on course toward breaking the hitherto all-time calendar-year stock dilution record - set in the 2020 Covid era. So far in 2024, both domestic and overseas promoters have sold shares worth nearly ₹65,000 crore - not far from the 2020 high watermark of ₹78,500 crore.

Cholamandalam Investment gained over 10% in a month and hit a record high on June 19, but underwent mild correction. The chart pattern suggests more steam left in the stock. The mild profit-booking seen in the stock price can be used as a buying opportunity as long as it is trading above the neckline of a range breakout above 1,300-1,380 levels.

A news report indicates that block deals involving 71 lakh shares, or 15.1% of the equity, were executed for the company. CMDB II, a private equity fund managed by JP Morgan Investment Management, was among the sellers, offloading 3,60,411 shares at Rs 830.27 each, totaling Rs 30 crore in the transaction.

Investors anticipated remarks from Fed's Mary Daly amid discussions on sustained higher interest rates. As of 11:53 a.m. ET, the Dow Jones rose 0.88%, S&P 500 saw a slight gain, while Nasdaq dipped marginally.

Punit Goenka's investment in Maverick Media aims to revive single-screen cinemas in underserved tier II and tier III cities across India. Goenka emphasised the immense potential of these markets and the importance of reviving this infrastructure to expand the reach of cinema.

A news report indicates that block deals involving 71 lakh shares, or 15.1% of the equity, were executed for the company. CMDB II, a private equity fund managed by JP Morgan Investment Management, was among the sellers, offloading 3,60,411 shares at Rs 830.27 each, totaling Rs 30 crore in the transaction.

​Ujjivan Small Finance Bank's shares plunged a tad over 5% Monday after its management projected a higher credit cost for the fiscal 2024-25 and a 20% lending growth, which is at the lower end of a range given earlier.

​Shares of holding companies like Bombay Burmah, Tata Investments, JSW Holdings and TVS Holdings rallied up to 20% on BSE on Monday as the Securities and Exchange Board of India (Sebi) introduced special call auctions with no price bands for price discovery of investment holding companies.

Equity benchmarks Sensex and Nifty closed higher on Monday as buying in power, auto and industrial stocks helped the indices rebound from early lows amid a bearish trend in global equity markets. However, volatility in markets ahead of the week's monthly expiry and selling pressure on metal and oil & gas counters kept investors on the back foot, traders said.The 30-share BSE Sensex ended 131 points higher at 77,341. The Nifty rose 37 points to settle at 23,538.The short-term trend of Nifty remains positive amid range movement. Having bounced back from near the lower range of 23,300 levels, there is a possibility of Nifty testing the upper range of 23,650-23,700 in the short term. Immediate support is at 23,350, said Nagaraj Shetti of HDFC Securities.

Federal Reserve Bank of Chicago President Austan Goolsbee is still looking for inflation to cool further as part of the process that would open the door to a rate cut.

KKR is seeking about $20 billion from investors for its latest flagship North America private equity fund, according to people familiar with the matter, three years after it launched its predecessor fund of similar size.

The Dow Jones Industrial Average rose 34.16 points, or 0.09%, at the open to 39,184.49.

Nifty maintains positive momentum, aiming for the 23,650-23,700 range with immediate support at 23,350, according to HDFC Securities' Nagaraj Shetti.

The Securities Appellate Tribunal (SAT) has stayed a Sebi order that restrained former PTC India chairman and managing director Rajib Kumar Mishra from being a director in a listed entity for six months in a matter pertaining to corporate governance lapses.

The Indian market recouped losses to close in the green on Monday despite a mixed trend seen in other Asian markets.

The increase in credit costs has been an issue which has been bothering banks, some more, some less. Even the chairman of India’s largest bank had to come out and give a statement regarding it. However the question arises when these headwinds which are periodic in nature and part of the business cycle hits any sector what should be done. Should one move out of the sector? Should one continue to stay invested or should one buy more of the stock of that sector. The answer is dependent on one simple factor which is how large is the opportunity which that sector has. If the answer is that the opportunity is very large, then probably, it is the second and third option which one may look at. Probably in case of small finance banks, which are today reeling under the pressure due to guidance by one bank fit the bill. These banks are no stranger to dealing with challenges since the time they were born. Challenges thrown by regulatory tightening and economic cycles.

Godrej Agrovet (GAVL) shifts focus to value-added segments with cost-cutting measures. Kotak Institutional Equities upgrades stock to 'buy' with target price of Rs 740, expecting sustainable turnaround in crop protection and dairy sectors.

Investors traded cautiously amid sectoral swings. Sensex closed around 77,341, Nifty sealed the day at 23,538. Sectorally, the gains were led by auto stocks, whose index was up nearly 0.9% and the FMCG pack, which rose around 0.72%. The Nifty IT, metal, PSU bank and pharma indices spoiled the market mood.

India's Adani Group is "well positioned" to capitalize on opportunities in the country's booming infrastructure sector as spending is expected to surge, Chairman Gautam Adani told investors on Monday.