The shareholders’ resolution will come up for voting at Meta’s annual shareholder and board meeting scheduled for Tuesday, May 31.

The Sensex surpassed the 62,000-mark with a breakout rally underpinned by the optimistic mood in global markets. The index closed at 62,501.69, up 629.07 points or up 1.02%, from the previous close. The Nifty briefly surpassed 18,500 before closing the day at 18,499.35, up 178.20 points or 0.97%.

Tata Motors and M&M had carved out their EV arms into separate subsidiaries and raised significant funds through stake sales in 2021 and 2022, respectively, at handsome valuations.

US hedge fund Davidson Kempner (DK), Canyon Capital Partners and Varde Partners have also agreed to a three-year private credit line, with each contributing $200 million. Canadian pension fund Omers is also expected to join with $100 million while the rest will be distributed among smaller funds.

Tencent Cloud Europe BV on Friday offloaded over 2 per cent shares of Policybazaar's parent firm PB Fintech for Rs 562 crore through an open market transaction. According to the bulk deal data available with the BSE, Tencent Cloud Europe BV sold 94,16,250 shares, amounting to a 2.09 per cent stake in the firm

Options trader P R Sundar settled a case with markets regulator Sebi by returning the advisory fee and disgorging over Rs 6 crore.The case relates to PR Sundar and Mangayarkarasi Sundar, promoters of Mansun Consulting, offering investment advice without the necessary registration from the regulator.

Index mutual funds provide exposure to equities through tracking a selected equity index with low management fees. Although they offer lower returns, risk-averse investors may consider them. Five funds that have yielded returns of over 20% within a 3-5 year period are Motilal Oswal Nifty Smallcap 250 Index Fund, Bandhan Nifty 50 Index Fund, Motilal Oswal Nifty 50 Index Fund, HDFC Index S&P BSE Sensex Direct Plan-Growth Fund, and Nippon India Index Fund S&P BSE Sensex Plan Direct-Growth Fund. Each fund has varied minimum investment requirements, management fees, and AUM.

Options trader P R Sundar settled a case with Sebi by returning the advisory fee and disgorging over Rs 6 crore. This was related to Mansun Consulting, of which he is a promoter, offering investment advice without registration. Sebi found various complaints about Sunar running a website and offering packages for advisory services, which were communicated to clients. Upon inquiry, recommendations provided by Mansun were found to fall under the category of "investment advice".The entities agreed to pay Rs 46.8 lakh and a disgorgement amount of Rs 6.07 crore, along with refraining from dealing in securities in India for a year.

Nucleus Software Services has announced a final dividend of ₹10 per equity share for the financial year 2022-23, subject to shareholder approval at the annual general meeting. The company's Q4 profits rose by 76%, driven by a growth in revenue from operations of 22% to ₹206 crore, as well as an EBITDA growth of 73% to ₹82.48 crore. Revenue for the financial year ending in March 2023 increased by 27% to ₹634.46 crore, while profit more than tripled to ₹128 crore. The company plans to focus on developing solutions for the BFSI sector in the coming year.

Christopher Wood, Jefferies’ Global Head of Equity Strategy, has added Zomato to his India and global long-only equity portfolios. The weight of the stock in the India portfolio will be 4%, with a 2% increase in REC. Zomato is replacing HDFC Life Insurance, which has been removed. Wood has also added Zomato and SBI Life Insurance to his Asia ex-Japan portfolio, removing HDFC Life Insurance and Standard Chartered. Jefferies will pay for the global long-only equity portfolio's inclusion of Zomato by shaving off investments in Alibaba and IVZ each by 2% points.

Rising consumer spending and inflation in the US support the case for the Federal Reserve to continue monetary policy tightening and raise interest rates. Despite the likelihood of a pause to the current rate hike campaign, the strong data has prompted some traders of interest rate futures to believe the Fed will still raise the target range for the benchmark rate by a quarter of a percentage point at June's meeting. Inflation remains stubbornly high, currently at 4.4% YoY, while core prices are up 4.7% compared with 4.6% in March.

The Dow Jones Industrial Average rose 30.85 points, or 0.09%, at the open to 32,795.50.

The S&P BSE Sensex and S&P BSE Bankex derivatives contracts relaunched by the Bombay Stock Exchange recently, saw a turnover of INR 17,345 crore ($2.3bn), with total open interest at 20,700 contracts. BSE had reintroduced its Sensex and Bankex futures contracts and a Friday expiry on May 15 to boost derivative trading at the country's premier bourse. The revisions aimed to provide a wider range of investment options based on market feedback.

In Friday's trading session, the Sensex benchmark index experienced a notable surge of 629 points, reaching a milestone of 62,501. Consequently, four stocks within the BSE auto index achieved new 52-week highs. The 52-week high is regarded as a significant technical indicator by certain traders and investors, as it helps assess a stock's current value and forecast future price trends. This metric represents the highest price at which a particular stock has traded over the preceding 12 months.

India's markets regulator, the Securities and Exchange Board of India (SEBI), is planning to reduce compliance requirements for passive investment funds, such as index funds and exchange-traded funds, through lightened mutual fund regulations. The move seeks to foster growth, lower costs and improve transparency for investors. SEBI has also revised the requirements for sponsoring a mutual fund, allowing private equity funds to become sponsors without a mandatory profit track record. Additionally, the regulator has implemented prudential regulations on open-ended mutual funds, especially debt funds, to enhance liquidity in the debt market and temper market risks.

Indian market closed in the green for the second consecutive day, with gains over 1% on benchmark indices. Buying was seen in IT, FMCG, metal, and realty stocks, whereas some profit booking was seen in utilities, power, and oil & gas stocks.

Adani Ports and Special Economic Zone will release its Q4 earnings on May 30 to declare the audited financial results for the quarter and year ended March 31, 2023. The company said it will discuss the possibility of recommending dividends for the financial year 2022-23 during the board meeting. Adani Ports' stocks closed 0.26% higher in BSE trade on Friday. The stocks fell over 11% year-to-date and over 17% in the past six months. As per Trendlyne data, the average target price of Adani Ports shares is Rs 834 per share with a 15% upside from current market prices.

Nifty saw a bullish candle formation on Friday and broke out of a consolidation move, but must maintain above 18,442 zones for upward movement, according to Chandan Taparia of Motilal Oswal. Meanwhile, option data suggests a trading range between 18,200 and 18,800 zones. Technical analysts Jatin Gedia and Amol Athawale predict positive short-term outlooks with key levels acting as trend deciders. Rahul Ghose, Founder & CEO of Hedged, advises buying opportunities for Nifty, which may have short-term resistance at 18,700 and 18,800 levels and already sees an increase in options OI for June month expiry.

Mahindra & Mahindra has recommended a dividend of Rs 16.25 per equity share, which is 325% of its face value. The decision was made during a board meeting to approve the company’s quarterly results. The Q4 result showed a 22% YoY rise in standalone net profit to Rs 1,549 crore and revenue jumped 31% to Rs 22,571.37 crore. The company achieved an all-time high profit of Rs 10,282 crore on a consolidated level in FY23, driven by successful automotive launches, farm equipment growth, strong financial services, and monetisation/partnerships. CEO and MD Anish Shah said it was a “blockbuster year” for the group.

The Nifty crossed the 18,500 mark for the first time this year, boosted by heavyweight Reliance Industries, which helped Sensex rise by 629 points while Nifty went up 1%. The market capitalisation of all listed companies on BSE also rose by Rs 2.24 lakh crore to Rs 282.57 lakh crore. Medplus gained 16% after reporting a two-fold jump in its Q1 profit, whereas Page Industries fell 9% due to weak demand. Despite US debt default fears, Asian markets were cautiously higher, with Japan leading gains.

ETMarkets is hosting a day-long webinar on June 3 with leading women traders to help traders navigate the market charts and develop effective risk management techniques. The event features sessions on the identification of multibaggers, momentum-based trading, basics of technical analysis, risk management, and different trading strategies. The webinar aims to help participants build a solid foundation in technical analysis, identify market trends, optimize entry and exit points, and make well-informed decisions.

Among the Sensex stocks, RIL, Sun Pharma, HUL, HCL Tech and Wipro were the top gainers. On the other hand, only Bharti Airtel, Power Grid Corp, and NTPC closed in the red.

Closing Bell: Sensex extends gains to day-2, rallies 638 pts; Nifty tad below 18,500; Med Plus surges 16%, Star Health tanks 8%

Aptech's board approved an interim dividend of Rs 6 per share and a bonus issue of equity shares in the proportion of 2:5 for investors. The dividend payment is subject to shareholder approval, while the bonus issue will be issued out of the company's capital redemption reserve. Bonus shares are additional shares fully paid for by the firm to its existing investors, increasing the stock's liquidity. Aptech provides computer training and multimedia services, and its shares have delivered multibagger returns, gaining 136% in the last year and 58% this year.

ETMarkets.com has identified six stocks that demonstrate favorable financial indicators and have attracted attention from institutional investors like FIIs and MFs. These stocks have consistently achieved a sales growth rate exceeding 10% in each of the last four quarters of FY23. Moreover, companies that incurred net losses in any of the past four quarters of FY23 have been excluded from the selection process. The chosen stocks have also been filtered based on the condition that FIIs and MFs have increased their stake by at least 1% (100 bps) in the March 2023 quarter compared to the previous quarter. It is worth mentioning that most of these stocks have witnessed a reduction in promoter stakes during the last quarter.The performance of these stocks in terms of share price has been varied, with three of them yielding negative returns over the past year. However, the remaining three have generated positive returns, including two that have become multibaggers by gaining 25-175% (Data Source: ACE Equity).On a positive note, most of these stocks have more strengths than weaknesses based on SWOT Analysis, as per Trendlyne data.

The Competition Commission of India (CCI) has approved the acquisition of additional Series E compulsorily convertible preference shares of Acko Technology & Services by Multiples Private Equity Fund III and CPP Investment Board Pvt Holdings (4). Acko is engaged in providing technology and outsourced services while also providing all-round damage protection plans for electronic devices such as mobile phones and facilitating the sale and purchase of new and used vehicles through its platform. The target (through its affiliates) is also involved in the provision of non-life insurance services in India. The companies involved belong to the Multiples and Canada Pension Plan Investment Board groups.

New Delhi-based Servotech Power Systems' board of directors unanimously approved a 2:1 equity share split. The firm aims to improve share liquidity and encourage wider participation in the stock market. Technical data portray the company trading over eight moving averages, with a bullish MACD indicator and an RSI of 73.9.

Nine years back, on May 26, 2014 - Narendra Modi took an oath and became the prime minister of India. And with that BJP-led Modi govt came into power as well. A lot has changed in the last nine years in terms of technology, the way our country used to function, infrastructure and even the stock markets. PM Modi's influence on desi and videshi investors in the past nine years reflects in the Indian stock market performance.

Experts suggest that Max Healthcare's recent rally may not be over, despite failing to maintain a fresh record high. Traders could buy the stock at present or on dips towards Rs 450-500 with a potential target of Rs 750-1,000 in the next six months, they say. On the weekly charts, the stock broke out from a trendline and has been making higher highs and higher lows for the past five weeks. Although some consolidation could occur as it trades around overbought levels, the Relative Strength Index is 78.2 and the MACD is bullish.

Analysts are forecasting a comeback of Utilities stocks. IGL is back on the radar and so is NTPC. For the purpose of this report, we have selected stocks wherein the count of analysts is at least 15 and the average stock report plus score is a minimum of 8. The reason for having a minimum count of analysts for a particular sector is because higher coverage by analysts indicates higher institutional interest in individual stock. The list is based on upside estimated by the analysts, with the highest potential stock coming on the top of the list.

VIL recorded the first ever annual growth in revenue from operations post merger. The company's consolidated revenue from operations grew 9.5 per cent to Rs 42,177.2 crore from Rs 38,515.5 crore a year ago.

Life Insurance Corporation of India (LIC) has reported a standalone net profit of Rs 13,428 crore for Q4 FY23, a 466% increase YoY, prompting brokerages including Motilal Oswal, Axis Securities and JM Financial to recommend "Buy" on the stock, while Emkay has maintained its "Hold" rating. LIC's net premium income fell 8% to Rs 1.31 lakh crore during the March quarter, compared to last year. The company's first-year premium for the period totalled Rs 12,811 crore, down 12% YoY. Its net commission rose 5% to Rs 8,428 crore, while the full-year profit fell 10% to Rs 36,397 crore.

Chris Wood, chief analyst at Jefferies, has expressed confidence in the re-election of the BJP government, led by Prime Minister Modi, in the 2024 Indian polls. Wood believes Modi has achieved a "phenomenal transformation" of physical infrastructure, leading to improved capital returns. Though there are concerns over the BJP's declining majority and its recent loss in the Karnataka elections, Wood argues that national-level support is driven by Modi's dramatic reforms. The expert praised India's direct benefit transfer (DBT) scheme, which has significantly reduced in welfare leakages and gained support from the urban and rural poor.

Under the two terms of the Narendra Modi-led government, Dalal Street investors had a good time despite implementing demonetization, GST, and the COVID-19 pandemic. The Nifty 50 has doubled in value in 9 years, with foreign and domestic institutional investors pouring in a net of $49.21 billion and ₹7 lakh crore, respectively. Post-pandemic, Indian equity markets increased significantly, making it one of the best-performing emerging markets in the MSCI index. The IT sector gave the best returns to the investors, followed by the financial services and FMCG sectors. Investors remain bullish on India due to its positive macro side improvement and stability.

India is set to see at least four new Real Estate Investment Trusts (REITs) listed on the stock exchange between the second half of 2021 and early 2025, if the performance of the stock market stays consistent, according to Anshuman Magazine, head of CBRE India. The introduction of REITs has been a success in India, allowing retail investors to participate in the real estate market, monetising rent-yielding assets and unlocking the broad potential of real estate assets. Institutional investors are also attracted by the reliability of these assets as REITs offer them a better return on investments.

A number of financial services companies came under pressure after the budget. However, in the Q4 earning season when IT stocks came under pressure it has been financial service stocks including banks which have been able to help nifty recover. On days when global markets are under pressure and the nifty is showing signs of out performance. A number of times this up move is led by financial service and bank stocks which are announcing their Q4 result. We take a look at what analysts are saying for select financial service stocks.

Foreign institutional investors (FIIs) have increased their net longs in Nifty and Single Stock Future (SSF), while domestic institutional investors (DIIs) have sold equities. FIIs pumped in $3.1bn in May while DIIs sold equities worth $372m. HNI and retail clients increased their short positions in the index while reducing their longs marginally in SSF. Bulls maintained their upper hand throughout the May series and continue to hold the grounds. The auto, IT, realty, and FMCG sectors recorded gains in May while the PSU bank and pharma sectors recorded losses. The Nifty can move higher but crossing 18,660 will remain a challenge, according to a Nuvama report.

Medplus Health Services' shares rose by 12% to Rs 772.7, due to its two-fold rise in profits in the March quarter, primarily boosted by strong sales in its key retail test. The company sold medicines online besides through its retail outlets throughout India resulting in a revenue increase from retail of about 29% to Rs 1,241 crore, which accounted for almost all of its total revenue. At present, the stock is trading at 11.5% higher, with a year-to-date increase of 24%. The average target price for the stock is Rs 808, with a consensus Buy recommendation from six analysts.

This corporation’s trend is bullish to sideways. Based on the options chain analysis, the range is between Rs 160 and Rs 170. Let us plan a trade around this.

Medplus Health Services' shares rose by 12% to Rs 772.7, due to its two-fold rise in profits in the March quarter, primarily boosted by strong sales in its key retail test. The company sold medicines online besides through its retail outlets throughout India resulting in a revenue increase from retail of about 29% to Rs 1,241 crore, which accounted for almost all of its total revenue. At present, the stock is trading at 11.5% higher, with a year-to-date increase of 24%. The average target price for the stock is Rs 808, with a consensus Buy recommendation from six analysts.

Chris Wood of Jefferies predicts that the Sensex will reach 100,000 in a matter of time based on a trend 15% EPS growth assuming a five-year average one-year forward PE multiple of 19.8x is sustained. However, Wood also highlights two stress points in Indian equity - Modi's re-election and a reduction in retail investor activity. Nevertheless, dedicated emerging market investors are slightly overweight in India relative to history, despite India's neutral weighting in the MSCI benchmarks being inappropriately low.

On the candlestick screener, a bullish reversal pattern helps identify stocks that can convert into an uptrend from a downward zone in the future. Here are two NSE stocks that have established an Inverted Hammer pattern and are hinting at a bullish reversal in the future. (Source: StockEdge)

Goldman Sachs maintained a neutral rating on Cummins India, whereas Credit Suisse maintained an outperform rating on the company. CLSA has a buy rating on Phoenix Mills, and Morgan Stanley maintained an overweight rating on Page Industries with concerns over the company’s weaker Q4 performance. While Cummins India's prospects are tied to internal combustion engines, Phoenix Mills is seen as a strong play on discretionary consumption demand, and Page Industries expects margin recovery to lead to revenue growth.

Using the candlestick scanner, one can identify stocks where the bulls are currently ruling the roost, nonetheless, the bears are quietly making a move. So, here are 5 stocks that established Bearish Harami Cross in trade on May 25, 2023. This pattern is indicative of an upcoming change in the current bullish trend. (Source: StockEdge).

From the Sensex pack, NTPC, HCL Tech, Infosys, Tech Mahindra, Wipro and Reliance opened with gains, while Sun Pharma, IndusInd Bank, Power Grid, Axis Bank, and ICICI Bank were trading with cuts.

Indian markets are set to consolidate due to muted global cues, with the BSE Sensex rising by nearly 100 points on Thursday, while the Nifty50 closed above 18,300. India VIX was down by 4.5% to 12.52 levels and has given strength to the bulls. Options data suggests a trading range of 18,000 to 18,600 zones and immediate trading range between 18,100 to 18,500 zones. Short-term traders can consider buying Bharti Airtel, PFC, and Tata Power, according to lead technical analyst Pritesh Mehta.

Sensex gains over 100 points, Nifty above 18,350; Page Industries tanks 10%, Voda Idea rises 3% on Q4 show.

Although Indian stock market valuations have dropped to their 5-year and 10-year historical averages, analysts still lack comfort in recommending investors to put money aggressively. However, nearly 50% of index stocks are below their 10-year averages, which can offer decent returns. UPL has the highest upside at 35% despite brokerage Prabhudas Lilladher slashing its FY24E/25E estimates by 16%/12% and target multiple from 14x earlier to 12x. Meanwhile, HDFC Bank, SBI, Axis Bank, and M&M have upwards of 20% upside potential each in the next 12 months.

Shares of Page Industries fell 15% in early trade after the clothing company reported a 59% YoY drop in net profit for Q4 2022-23. Revenue from operations was also down 13%. Brokers had mixed opinions on the stock’s outlook with Morgan Stanley maintaining its 'Overweight' stance and setting a price target of INR43,068, Kotak Institutional Equities recommending a 'Sell' rating and a price target of INR33,000 and Nuvama downgrading the stock from 'Hold' to 'Reduce' and setting a price target of INR36,800. Despite the company's weak performance, its board declared a fourth interim dividend of INR60 per equity share.

The Futures Short Position Scan conducted on Thursday revealed that aggressive new short positions have been taken on six counters. This is a bearish indicator as it signifies that the futures OI has increased while the price has decreased. (Source: StockEdge)