Ambuja Cement, a company owned by Adani group, has signed a definitive agreement to acquire Hyderabad-based Penna Cement at an enterprise value of Rs 10,422 crore, as per the company’s filing on the stock exchanges.

Broadcom surged about 15% on Thursday as its upbeat annual forecast highlighted insatiable demand for chips used in powering AI-focused technology, while its announcement of a stock split added to the euphoria.

The Dow Jones Industrial Average fell 35.09 points, or 0.09%, at the open to 38,677.12.

A report by Motilal Oswal highlights that the fourth-quarter performance of Nifty-500 companies in FY24 showed strong showings from domestic cyclicals like BFSI and auto sectors while global cyclicals such as Oil & Gas and metals experienced a downturn.

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 Thursday's trading session, five stocks witnessed a long unwinding. Here's the list:

In May 2024, demat account additions surged by 36 lakh, but the overall average daily turnover (ADTO) in the financial markets declined by 3% to Rs 433 lakh crore. While F&O ADTO decreased by 3%, cash ADTO rose by 5.5%. Active users on NSE increased to 4.29 crore.

Rajib Kumar Mishra ceased to be chairman of PTC India Financial Services Ltd (PFS) as well as CMD of PTC India Ltd following the order passed by markets regulator Sebi that restrained him from holding the director's post for six months, the two companies said on Thursday.

The acquisition will be fully funded through internal accruals, the filing said. The move is expected to boost Ambuja Cements' growth, said Ajay Kapur, CEO & Whole Time Director. The consolidated turnover of PCIL for the last three years i.e. FY2023-24, FY2022-23 and FY2021-22 is Rs 1241 crore, Rs 2002 crore and Rs 3204 crore, respectively.

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 regarding a security from extreme bearishness to bullishness. In Thursday's trading session, five stocks saw top short covering. Here's the list:

Nifty formed a small negative candle with a minor lower shadow. The short-term trend of Nifty continues to be a range bound with positive bias. Nifty has been consolidating in the broad range of 23,200-23,500. A decisive close beyond the boundaries can lead to a trending move.

Ambuja will acquire 100% shares of PCIL from its existing promoter group, P. Pratap Reddy and family, a company filing to the exchanges said.

Puravankara's board sanctioned a fundraising initiative of Rs 1,000 crore through qualified institutional placement (QIP), to be conducted in one or multiple phases.

Indian equity benchmarks reached new highs driven by US rate-sensitive IT stocks following softer-than-expected US inflation data, fueling anticipation of earlier interest rate cuts by the Federal Reserve.

The decision was taken at a meeting on Thursday and the announcement was made after market hours. In its filing to the exchanges, the company said upto 1,02,70,27,024 equity shares of face value of Rs 10 apiece will be issued at a price of Rs 14.80. Besides, Vi will also issue upto 63,37,83,780 equity shares at an issue price of Rs 14.80 per unit that includes a premium of Rs 4.80 apiece to Ericsson India.

They say that tough times bring the best out of some. In case of India Inc, there are many examples where the economic slowdown post 2008 global financial crisis, made companies deal with all kinds of troubles and after various permutations and combinations they were able to find solutions, first to survive and then grow. In the case of engineering companies where the role overlapped to some extent with capital goods, it was the export market which turned out to be the solution. Because it is not easy to venture into the export market as there are large global players who ensure that it is not easy to get into their turf. For some companies it was a long drawn process which is now delivering results and leading to a situation where the return on capital and effort employed is much better today.

Indian equity benchmarks reached new highs driven by US rate-sensitive IT stocks following softer-than-expected US inflation data, fueling anticipation of earlier interest rate cuts by the Federal Reserve.

While the NDA government is in place, the success of BJP and PM Modi in running a minority government will be at test, although continuity in key ministries seems to be positive. Domestic brokerage firm Prabhudas Lilladher expects NDA government to sustain focus on capex led growth around PLI, Roads, Ports, Aviation, Defence, Railways and Green energy given 20 bps lower fiscal deficit in FY24, normal monsoons and Rs 2.10 lakh crore dividend from RBI. Here is a list of small and midcap ideas from Prabhudas Lilladher post the election results:

Wind and solar energy solutions provider Suzlon Energy's stock was in the thick of action in May ending as one of the top additions by mutual funds. They added 14.21 crore shares in May taking the tally to 45.03 crore shares as of May 31, 2024, from 30.81 crore shares as of April 30, 2024, according to a Nuvama report.

​In Thursday's trading session, the following five stocks witnessed a build of fresh short positions. Lets first understand how this conclusion is reached that whether the stock has seen a buildup of fresh short position or not.

Indian shares across the board hit all-time highs on Thursday, tracking a global rally after softer-than-expected US inflation data boosted expectations that the Federal Reserve would lower interest rates sooner rather than later. Meanwhile, in Thursday's trading session, five stocks from the Nifty50 index hit new 52-week highs. Here's the list:

​In Thursday’s trading session, the following five stocks witnessed a build of fresh long positions. Lets first understand how this conclusion is reached that whether the stock has seen a buildup of fresh long position or not.

Wind and solar energy solutions provider Suzlon Energy's stock was in the thick of action in May ending as one of the top additions by mutual funds. They added 14.21 crore shares in May taking the tally to 45.03 crore shares as of May 31, 2024, from 30.81 crore shares as of April 30, 2024, according to a Nuvama report.

Motilal Oswal initiated coverage on Mankind Pharma with a 'buy' call and target price of Rs 2,650. The company's disruptive strategy in establishing its DF business has made it an industry leader in prescriptions.

The US Federal Reserve maintained rates at 5.25-5.50% in its June monetary policy, with Chair Jerome Powell expressing caution about the inflation outlook and the need for data revision. Experts weigh in on the decision.

As the bulls move from state of control to absolute control of the street, there are a couple of things which one needs to remember. One of the things which they throw out of the window is the “sense of risk”. It is this risk which needs to be given due importance in such time because even in raging bulls markets, there are periods of correction which come unannounced. We are not saying that a correction will come any time soon given the fact that the US Fed is clearly indicating that the interest rate will come down. But given the fact that valuations are still high, it would be better that one should be more cautiously bullish and more selective when putting in fresh money into stocks.

European shares edged lower on Thursday as U.S. Federal Reserve's hawkish stance on rate cuts weighed down sentiment. STOXX 600 down 0.2%, rebounding from previous session's 1.2% gain. BT rose 2.5% after Carlos Slim's stake acquisition in UK's largest broadband operator.

ETMarkets' analysis shows that more than 10 mutual fund schemes have reduced their investments in seven stocks in May 2024 compared to April 2024. Among these stocks, three experienced a share price increase of 40-50% in 2024 so far, one stock fell by around 22%, and the remaining two had flat performance. (Data Source: ACE MF). Check the list to see if you hold any of these stocks:

The retail trading landscape in India is evolving with the rise of individual investors empowered by technology and access to information. The number of demat accounts surpassed 100 million in 2024, with a significant portion attributed to individual investors.

Kotak Institutional Equities has expressed disagreement with the investor bullishness in the electricity sector, particularly regarding NTPC and Power Grid stocks due to 'wrong valuation methodologies'.

Oracle Financial Services Software (OFSS) experienced a significant surge of 11.4% in its shares over the past two days. This rise followed strong earnings reported by its parent company, Oracle Corporation, in the United States.

Suraksha Group takes control of Jaypee Infratech Ltd, appoints Devang Pravin Patel as CFO, and plans to delist shares from stock exchanges.

A dividend is a share of profits and retained earnings that a company pays out to its shareholders. According to StockEdge data, 10 IT stocks are paying consistent dividends to their investors and have paid dividends up to 60 times since 2011. These stocks include TCS, HCL Technologies, Persistent Systems, Coforge, and KPIT Technologies.

Sobha's shares surged 7% to Rs 2,219 on BSE after announcing a Rs 2,000 crore rights issue at Rs 1,651/share (20% discount). Issue opens June 28, closes July 4.

Insurance stocks rose up to 3% after IRDAI increased surrender values for non-linked products, affecting insurers like LIC, HDFC Life, and Max Life. Shares of LIC, HDFC Life, and SBI Life were up on BSE. Nuvama awaits more details from companies next week.

Nifty closed with a modest gain but after declining significantly from its high point of the day.

L&T Finance shares surged 5% to an all-time high of Rs 179 as Bain Capital sold 8.82 crore shares in a block deal. The private equity giant, aiming for a complete exit, divested its 3.5% stake through affiliates BC Asia Investment VI and BC Asia Growth Investment.

The regulator has also banned Pawan Singh, former chief executive of PFS from holding any position of director or key managerial personnel in any listed company or intermediary for two years. It has also imposed a penalty of Rs 25 lakh on Singh.

Earlier on Tuesday, promoter group entity InterGlobe Enterprises had sold a 2% stake or around 77 lakh shares in the airline after which their ownership had dropped to 35.75%. That was the first instance the Bhatia Family sold their stake in InterGlobe Aviation after the IPO.

Sensex and Nifty50 opened at a record high on Thursday following gains, driven by global stocks and a favorable U.S. inflation report.

One97 Communications, the parent company of Paytm, saw a 8% surge in shares as it announced a partnership with Samsung Wallet. Galaxy smartphone users can now access Paytm's services for flight, bus, movie, and event bookings seamlessly through the Samsung Wallet.

Adani group companies and LTTS, among others, are in focus for corporate actions like dividends and AGMs this week.

Bayer Cropscience Ltd, an agrochemical stock, exhibits strong bullish momentum with potential for record highs above 7000 levels, supported by key technical indicators like moving averages, RSI, and MACD.

May orchestrated a SIP symphony, with monthly inflows hitting an all-time high of Rs 20,00 crore. Midcap schemes saw an inflow of Rs 2,600 crore in the month of May versus Rs 1,800 crore in April, while the smallcap schemes witnessed an inflow of Rs 2,700 crore in May versus Rs 2,200 crore in April. Here are the top smallcap stocks that the AMCs quitted or reduced in May:

A short buildup is when there is a rise in open interest and volumes along with a decrease in the price of the underlying stock in the Futures and Options segment. Short buildup means more people are expecting the prices to go down and creating short positions. In Thursday's trading session, five stocks witnessed a build of fresh short positions. Here's the list:

Tesla shareholders are voting on a $56 billion pay package for Elon Musk and to relocate the company's legal home to Texas. The vote outcome will be announced at a meeting in Texas on Thursday.

Top brokerage firms like Motilal Oswal, Jefferies, and Morgan Stanley have issued buy ratings and targets for Mankind Pharma, Nykaa, Tata Consumer, and Varun Beverages.

Analysts are positive about PSU stocks post Lok Sabha elections, highlighting growth opportunities in Nifty PSU Bank stocks and government sectors. Valuation comfort, dividend yields, and growth potential make PSU stocks attractive for value investing.

Earlier on Tuesday, promoter group entity InterGlobe Enterprises had sold a 2% stake or around 77 lakh shares in the airline after which their ownership had dropped to 35.75%. That was the first instance the Bhatia Family sold their stake in InterGlobe Aviation after the IPO.

Thursday's trading session in the Indian market is anticipated to see upward movement, following robust global market indicators.

Sensex and Nifty50 opened at a record high on Thursday following gains, driven by global stocks and a favorable U.S. inflation report.