90% of Modi stocks have beaten Nifty in the election-focused rally over the last six months compared to only 42% of other companies outperforming, CLSA analysts said this may continue in case of a strong Lok Sabha election result.

With oil prices declining, OPEC's meeting gains significance. Global oil demand growth projections are revised while refining margins remain weak. Gail India and HPCL offer upside potential, driven by robust domestic gas demand and refinery upgrades.

Reflecting the global market downturn, Indian key indices continued their downward trend for the fourth consecutive session on Wednesday. HDFC Bank, M&M, ICICI Bank, L&T, Reliance, and Axis Bank led the decline among Sensex stocks. Nifty Financial Services slid 0.6%, while Nifty Auto fell by 0.8%.

The company also posted a 4.6% YoY increase in revenue at Rs 363.9 crore while the EBITDA rose by 16% at Rs 66.4 crore vs Rs 57.1 crore in the fourth quarter last year.

Suzlon Energy's shares surge 340% in a year, fueled by strong order inflows and debt-free status. Analysts foresee up to 43% upside potential. Fundamentals improve with debt reduction and cash reserve. Brokerages maintain 'buy' ratings, targeting Rs 54-58.

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 Wednesday's trading session, five stocks witnessed a build of fresh short positions. Here's the list:

IRCTC's stock witnessed a 5% decline, reaching the day's low of Rs 1,028, following the company's announcement of a consolidated profit after tax (PAT) of Rs 284 crore, which was below expectations, marking a modest increase of 1.8% on a year-on-year (YoY) basis.

PNB Housing Finance shares experienced a significant decline of over 8%, reaching the day's low at Rs 724 in Wednesday's trading on the BSE. This drop followed a sizable block deal where 2.7% of the equity changed hands.

Reflecting the global market downturn, Indian key indices continued their downward trend for the fourth consecutive session on Wednesday. HDFC Bank, M&M, ICICI Bank, L&T, Reliance, and Axis Bank led the decline among Sensex stocks. Nifty Financial Services slid 0.6%, while Nifty Auto fell by 0.8%.

A long buildup occurs when there is an increase in open interest and trading volumes alongside a rise in the price of the underlying stock in the Futures and Options segment, indicating a bullish trend in the market. In Wednesday's trading session, five stocks experienced a buildup of fresh long positions. Here's the list:

Indian stocks' performance is closely tied to the Bharatiya Janata Party's election success. A Bloomberg News survey suggests that if the party wins over 303 seats, stocks could rally; otherwise, a drop is expected.

Low PE stocks, often regarded as value stocks, are typically favoured for long-term investment strategies.

Investec brokerage firm upheld its buy recommendation for Hindalco, while Nuvama initiated coverage on Inox Wind and Suzlon Energy with buy ratings, respectively. Goldman Sachs has given LIC a neutral rating following its Q4 results.

Timken India shares have been stuck in a range since November 2022 where Rs 3,700-3,800 acted as a stiff resistance, while on the downside, levels above Rs 2,500 acted as support on the weekly charts. Short to medium-term traders can look to buy the stock on dips for a possible target of Rs 5,000-5,100 in the next few months, suggest experts.

LIC's assets have exceeded Rs 50 lakh crore, marking a significant milestone and overshadowing Pakistan's GDP. In FY24, LIC reported a profit of Rs 40,676 crore and total premium income of Rs 4,75,070 crore. The company, with a market share of nearly 59% in the Indian life insurance sector, is now eyeing entry into the health insurance domain. Its market value has surged by nearly 52% in the past six months, making it the seventh-largest stock by market capitalization.

On the sectoral front, Nifty Financial Services fell 0.6%, and Nifty Auto declined 0.8%. Additionally, Nifty FMCG, IT, Healthcare, Pharma, and Oil & Gas also saw declines.

Nifty hit a high in afternoon trade and then gave up its gains to end with a loss.

Shares of Paytm surged 5% as Gautam Adani considers investing in the company. Paytm founder met Adani to discuss a potential deal. Adani is also seeking investments from West Asian funds for Paytm, facing challenges after RBI restrictions.

Nvidia's shares surged 6% to a record high, nearing Apple's market value of $2.9 trillion. The AI chipmaker's stock hit $1,128, up 8% during the session, driven by strong second-quarter revenue forecasts and a stock split.

U.S. Treasury yields rose, impacting global markets. Crude oil climbed ahead of the OPEC+ meeting. Improved U.S. consumer confidence added uncertainty to Fed rate cut expectations.

Stock Reports Plus, powered by Refinitiv, undertakes detailed company analysis for 4,000+ listed stocks. In addition to detailed company analysis, the report also collates analysts’ forecasts and trend analysis for each component. An average score in Stock Reports Plus is calculated by undertaking quantitative analysis of five key investment tools - earnings, fundamentals, relative valuation, risk and price momentum.

Nasdaq crossed 17,000 for the first time boosted by Nvidia, while S&P 500 closed higher and Dow lower as Treasury yields rose.

“We have been seeing noticeable traction in railways-related stocks, and IRCTC is also trading in tandem with the move. Traders can buy for a target of Rs 1290 in the next 1-2 months,” says Ajit Mishra – SVP, Research, Religare Broking Ltd.

Robinhood Markets launched its first-ever share buyback plan to repurchase $1 billion worth of stocks, signaling maturity and growth beyond its startup phase.

Gautam Adani, chairman of the Adani Group, is reportedly looking into acquiring a stake in One97 Communications, the parent company of Paytm, according to sources cited by The Times of India. Paytm's founder and CEO, Vijay Shekhar Sharma, met with Adani in Ahmedabad to discuss the details of the potential deal.

Malaysian energy giant Petronas's renewable energy arm Gentari Sdn Bhd is leading the race for a part of India's renewable portfolio from Brookfield Asset Management.

SP Group, promoted by the Mistry family, has pledged its entire 18.5% in Tata Sons held through two entities to secure monies from private credit funds such as Ares and Farallon. Additionally, it needs to raise funds for a separate repayment due in three months and refinance existing high-cost borrowings.

The Indian government is monitoring imports of laptops, tablets, and servers, focusing on 27 companies under the Production linked incentive (PLI) scheme 2.0 for IT hardware. The government is preparing to replace the current import management system with an import authorisation mechanism to make the country a global manufacturing hub.

The board of NARCL recommends P Santhosh as the MD and CEO, succeeding N Sundar. Santhosh, a former Canara Bank CGM, has been the interim CEO since January. Several SBI officials were in the running for the position.

IIFL Securities' market capitalisation stood at ₹6,073 crore on Tuesday. In comparison, wealth management companies such as 360 One WAM, Nuvama Wealth Management, and Anand Rathi Wealth are valued at ₹28,535 crore, ₹17,913 crore, and ₹17,263 crore respectively.

SBI has more than 230,000 employees spread across 22,500 branches in the country. The SBI group is also the biggest asset manager in India's mutual fund industry, with assets under management (AUM) exceeding the pooled funds run by either the ICICI Group or the HDFC Group.

Government of Singapore, Monetary Authority of Singapore, HDFC Life, UTI MF and Nippon India MF were among some of the buyers. Shares of Timken India rose 2.78% to close at 4,062.80 on Tuesday. In last one month, the company’s shares gained 28.15% against an up-move of 1.94% in BSE 500 Index.

Novelis on Tuesday launched a roadshow for its proposed initial public offering (IPO), where Indian parent Hindalco plans to sell 45 million shares, or a 7.5% stake, in the company at $18-21 per share.

State-run Indian Railway Catering and Tourism Corporation (IRCTC) reported a consolidated profit after tax (PAT) of Rs 284 crore, which was up 2% year-on-year.

​​Canara Robeco Mutual Fund, DSP Mutual Fund and Kotak Mutual Fund were among some of the buyers in the deal. Shares fell 5.21% to close at ₹1,640 on Tuesday. In the last one month, the company's shares gained 6.11% against an up-move of 0.35% in BSE SmallCap Index in the same period.

On Monday, the board of group firm Adani Energy Solutions also approved raising up to Rs 12,500 crore through a QIP. The two companies will raise a total of Rs 29,100 crore or around $3.5 billion.

The stock has breached a 4-month consolidation and this has made room for it to head towards 1,200 levels. If the momentum continues, the stock could hit fresh record highs. The railway stock rose from Rs 696 as of November 28, 2023, to Rs 1,101 on May 27, 2024, which translates into an upside of 58%.

According to NSE data, promoter entities bought 72.70 lakh shares of flagship company Adani Enterprises worth ₹2,162 crore and 1.39 crore shares of Adani Green Energy worth ₹2,507 crore in multiple tranches between May 10 and May 23.

Manish Sonthalia, chief investment officer at Emkay Investment Managers, suggested investors to follow a multi-cap approach with equal proposition in large-caps and mid-caps to take advantage of a broad-based growth in Indian equity markets.

There has been no change in the promoter/promoter group's total holding in the company, which remains at 43.06%. Shares of Grasim Industries closed at Rs 2,435.10 on the NSE on Tuesday, rising by Rs 44.45 or 1.86%. A part of the Aditya Birla Group, Grasim reported a 39% increase in its consolidated net profit for the quarter ended March 2024, excluding exceptional items. The net profit rose to Rs 1,908 crore, compared to Rs 1,369 crore in the same quarter last year.

While the Nasdaq and S&P 500 celebrated their fifth consecutive week of gains, the Dow Jones took a different path on Friday. Healthcare stocks, led by an 8% plunge in Moderna, dragged down both the Dow and the broader S&P 500 sector. This divergence comes amidst ongoing market optimism fueled by speculation of potential interest rate cuts from the world's most influential central bank later this year. This optimism has propelled Wall Street to record-breaking highs since late 2023.

The Dow lagged other indexes, down by 135.40 points, dragged by the healthcare and financial sectors. Healthcare also led the S&P 500 subsector losses. The possibility that the world's most influential central bank could kick off interest-rate cuts this year has sent Wall Street on a record-breaking rally since late 2023, with the Nasdaq and S&P 500 marking their fifth straight week of gains on Friday.

Indian blue-chip stocks dropped for a third straight day on Tuesday, while mid-cap stocks snapped an 11-session rally, pulled down by profit-taking in another volatile session.The blue-chip NSE Nifty 50 closed 0.2% lower at 22,888.15 points, while the S&P BSE Sensex declined 0.3% to 75,170.45.The more domestically-focussed mid-caps and small-cap ended about 0.9% lower each, with the latter posting its biggest one-day drop in over two weeks."The index has formed another bearish candle and with this, we hold our view of retesting a strong support of 22,780 while a level of 23,110 will be considered as immediate resistance," said Aditya Gaggar, director of Progressive Shares.

Indian blue-chip stocks dropped for a third straight day on Tuesday, while mid-cap stocks snapped an 11-session rally, pulled down by profit-taking in another volatile session.The blue-chip NSE Nifty 50 closed 0.2% lower at 22,888.15 points, while the S&P BSE Sensex declined 0.3% to 75,170.45.The more domestically-focussed mid-caps and small-cap ended about 0.9% lower each, with the latter posting its biggest one-day drop in over two weeks."The index has formed another bearish candle and with this, we hold our view of retesting a strong support of 22,780 while a level of 23,110 will be considered as immediate resistance," said Aditya Gaggar, director of Progressive Shares.

The current spurt in the stock market is on account of strong fundamentals and robust corporate earnings and retail investors can look for buying opportunities to accumulate quality stocks, experts said. The benchmark Sensex on Monday scaled 76,000 level for the first time while the Nifty hit a new lifetime peak of 23,110.80.

Meme stock GameStop soared nearly 20% in premarket trading on Tuesday after the struggling videogame retailer said it had raised over $900 million from selling its shares during the market rally earlier this month.

The Dow Jones Industrial Average fell 40.6 points, or 0.10%, at the open to 39,028.99.

On Monday, the board of group firm Adani Energy Solutions also approved raising up to Rs 12,500 crore through a QIP. The two companies will raise a total of Rs 29,100 crore or around $3.5 billion.

Analysts expect 12-12.5% EBITDA margin over the next two fiscal years allowing room for upgrades if the company is able to achieve its guidance of mid-teen margin in the medium to long term.

In a volatile session on Tuesday, Sensex slipped by over 200 points to close at 75,170 while the Nifty settled at 22,888. Healthcare stocks saw some buying while utilities, power, and realty stocks saw selling pressure. DOMS and Exide hit fresh record highs, closing with gains of over 3% each.