IGL plunged 19.8% to ₹325, its lowest closing since March 2020. MGL tumbled 13.8% to ₹1,130.55, the lowest closing since June 2023. Gujarat Gas, which already derives most of its supplies at market rate, fell 6.8% to ₹452.5 on Monday.

Currently, Singtel directly owns 9.5% in Bharti Airtel through its affiliate, Pastel Ltd, while the Sunil Mittal-led promoter family holds a 3.31% direct stake through Indian Continent Investment Ltd (ICIL), a promoter group entity. Industry executives said the exercise is part of Singtel’s plans to boost shareholder returns and increase returns on invested capital.

Shares of Medplus Health Services rose 2.1% to close at ₹719 on Monday. In last one month, the company's shares have moved up 5.46% while the BSE 500 Index fell 6.58%.

Waaree Energies, which recently made a stellar debut at the bourses, reported its first earnings post listing, where the solar PV maker clocked 15% growth in its second quarter net profit at Rs 362 crore.

Ujjivan Small Finance Bank is taking steps to improve its financial health by selling off Rs 270 crore in bad loans, primarily from its microfinance portfolio. This decision was made after the bank's asset quality declined, with its gross non-performing asset ratio rising to 2.52%.

"It is disheartening to see the nature of some of the complaints and the observations in our inspection reports," Das said. "There are instances where complaints are misclassified as customer queries. We also come across instances of rejected grievances not being escalated to the internal ombudsman of banks. I would like to urge the boards and their customer service committees to closely look into these aspects to ensure that banks have a genuine commitment to customer centricity."

Indian Finance Minister Nirmala Sitharaman raised concerns about insurance mis-selling, emphasizing its contribution to higher borrowing costs for customers. She urged banks to focus on affordable lending rates to support industrial growth and advocated for digital financial inclusion. Sitharaman highlighted India's economic resilience and the need for transparency in banking practices.

As the correction continues unabated, a divergence is emerging in what is happening to the Nifty and Sensex and what is happening in the entire large-cap space. There are pockets where a certain amount of relative outperformance is visible. While Reliance Industries might be under pressure, stocks like HDFC Bank – which too has high FPI holding – is able to keep its head above the water even on strongly bearish days. So, probably the broad-brush selling is over. Still, despite the recent correction, valuations are on the higher side. Being selective should thus continue to be key as the markets show the first hint at a possible turnaround. 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.

Uno Minda Ltd, an aerospace industry player, shows potential for a price surge. Experts suggest a buying opportunity for high-risk traders if the stock closes above Rs 1,050. This could lead to a target price of Rs 1,175-1,255 within the next four to six weeks. The stock, forming a Rounding Accumulation pattern, indicates a potential upward trend reversal.

Select stocks gain momentum even in volatile markets.

The Indian government has updated its guidelines for Central Public Sector Enterprises (CPSEs) capital restructuring. The revisions include new minimum dividend payout ratios and criteria for share buybacks, bonus share issues, and stock splits to improve financial management.

Wall Street experienced mixed trading as investors awaited Nvidia's earnings report, a key indicator for the AI sector's momentum. Positive news about potential easing of regulations on self-driving cars boosted Tesla's stock, while concerns about the Federal Reserve's policy direction and Trump's cabinet appointments continued to weigh on the market.

India's Securities and Exchange Board of India (SEBI) has ordered four entities to halt their operations involving the public subscription of unlisted securities on their platforms. SEBI determined that these entities facilitated the public sale of privately placed unlisted NCDs, a violation of regulatory guidelines, potentially putting public investments at risk.

Indian markets declined for the seventh consecutive session, with the Sensex falling into correction territory. Concerns over foreign outflows and weak earnings weighed on the market. The Nifty broke below its 200-day DMA, indicating a bearish trend. Short-term support is seen at 23,200-23,300, while resistance is at 23,700-23,800.

These additional guidelines have been introduced to address scenarios of non-payment of debt (principal or interest) caused by factors beyond the issuer's control.

Wall Street's main indexes opened little changed on Monday, as investors looked ahead to crucial corporate results, especially from AI-chip leader Nvidia, following Wall Street's slump the previous week.

Bank of America sold 18 lakh shares of Tilaknagar Industries to Societe Generale via a block deal at Rs 338.65 per share. Both were existing shareholders in the company. This sale slightly reduced BofA's stake in Tilaknagar.

Billionaire Azim Premji's PE firm Premji Invest, through its arm PI Opportunities Fund - I, sold 68.93 lakh shares or 5.77 per cent stake in MedPlus Health Services and exited the firm, according to the block deal data on the National Stock Exchange (NSE).

Nithin Kamath warns about the increasing online fraud scams targeting investors. He advises caution and verification before making investment decisions. He emphasizes not acting in haste and avoiding opportunities that seem too good to be true. These scams exploit human emotions like hope, fear, and greed.

NTPC CMD Gurdeep Singh, along with the Board of Directors of the company, presented the "payment advice of Rs 1,238.84 crore, representing the government's share to the Minister of Power Manohar Lal, Power Secretary Pankaj Agarwal", it added.

This new index can be used for running passive strategies such as ETFs and Index Funds as well as gauging the performance of new companies across all the major sectors in India.

Nithin Kamath warns about the increasing online fraud scams targeting investors. He advises caution and verification before making investment decisions. He emphasizes not acting in haste and avoiding opportunities that seem too good to be true. These scams exploit human emotions like hope, fear, and greed.

The Securities and Exchange Board of India (Sebi) initiated adjudication proceedings against the applicant and issued a showcause notice in February for the alleged violations of FPI Regulations and Intermediaries Regulations.

The Nifty closed lower on a negative note, breaking below its 200-day EMA support. The volatility index India VIX surged, indicating increased market volatility. The short-term trend is bearish, with support at 23,300 and resistance at 23,600. The highest OI on the call side is at 23,500 and 23,600, while on the put side, it's at 23,400 and 23,300.

Bharat Global Developers announced an 8:10 bonus share issue and a 1:10 stock split. The stock surged 5% on the news. The record date for the bonus and split is yet to be announced. The estimated completion time is 2 months.

Shares of smallcap stock KRN Heat Exchanger, hit a fresh high of Rs 716.90, surging 10% during Monday's intra-day trade on the BSE, defying a weak market trend. The stock has surged 226% from its issue price of Rs 220 per share in just eight days, marking a new high since its listing on October 3, 2024.

The Indian rupee ended nearly unchanged on Monday, supported by the central bank's market intervention as portfolio outflows and a decline in most Asian currencies weighed on the local unit.

The market is volatile with a bearish bias, and the chances that it will remain so for some time are high. But then volatility is not new, and we will certainly see similar phases in future. Also, when corrections continue for a long period of time – the current one has lasted nine weeks – the mid-cap segment tends to witness greater turmoil. One reason for this is technical – the relatively lower liquidity of mid-caps. So even a small amount of selling greatly impacts stock price. As an investor, remain focused on the business underlying your stock. If the business is growing, then all is well. In fact, you could even see the decline as an opportunity. With strong caveats, of course.

Indian stock markets closed lower on Monday, dragged down by IT stocks after Federal Reserve Chair Jerome Powell hinted at delayed interest rate cuts due to strong U.S. economic growth. The Sensex fell 241 points, while the Nifty slid 79 points. Tech companies like TCS and Infosys were among the top losers.

Despite recent selling by foreign institutional investors (FIIs) over the past month and a half, which has led to an 8-9% correction in Indian benchmark indices, FII outflows account for only about 1% of foreign ownership in domestic equities. The local markets remain supported by strong domestic ownership at 83%, bolstered by robust retail investor demand.

Indian REITs have disbursed Rs 2,754 crore to unitholders in H1 FY24, a 14% increase from the previous year. The four major listed REITs—Brookfield India, Embassy Office Parks, Mindspace Business Parks, and Nexus Select Trust—contributed to this distribution. This reflects the growing maturity of India's REIT market, which now manages assets worth over Rs 1.52 lakh crore.

Short covering happens when traders buy back shares they previously sold short, often due to a shift in market sentiment or new information. This usually results in a decrease in open interest and can drive the stock price higher. In Monday's trading session, five stocks saw short covering. Here's the list:

The board of multibagger stock KPI Green Energy has given the green light to a bonus share issue in the ratio of 1:2 for its eligible shareholders, allowing them to receive one additional share against every two shares held in the company.

ACME Solar Holdings' shares surged 10% after its subsidiary, ACME Sun Power, secured a significant loan of Rs 3,753 crore from REC Ltd. The funding will support the development and construction of a 320 MW Firm and Dispatchable Renewable Energy (FDRE) project in Rajasthan and Gujarat.

IGL Share Price: Shares of Mahanagar Gas and Indraprastha Gas dropped by up to 18% after the government reduced the APM allocation by 20% for the second consecutive month. In response, Nirmal Bang downgraded both stocks to a 'Sell' rating, cutting target prices for MGL by 35% and IGL by 31% due to revised EBITDA estimates, concerns over slower growth & narrower margins.

“Coforge is one of the strongest and resilient names in the IT space which has held on to its higher zones despite the recent market correction. Traders can buy for a target of Rs 8450 in the next 2-3 weeks,” Shivangi Sarda, Analyst, Derivatives and Technical Research, Motilal Oswal Financial Services Ltd, said.

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

Indian metal companies saw a significant rise in their share prices. This followed China's proposal to reduce export tax rebates on metals like copper and aluminium. The move caused aluminium prices to surge on the London Metal Exchange. China's decision aims to control the flow of its aluminium into global markets.

Over 26% of Alternative Investment Funds (AIFs) outperformed the Nifty50 in October 2024, with 30 funds delivering positive returns despite the benchmark's 6% decline. Category II funds, particularly those from Vivriti and Northern Arc, led the gains, while Category III funds showcased resilience with Breakout Fund and VQ FasterCAP Fund posting notable returns.

IGL Share Price: Shares of Mahanagar Gas and Indraprastha Gas dropped by up to 18% after the government reduced the APM allocation by 20% for the second consecutive month. In response, Nirmal Bang downgraded both stocks to a 'Sell' rating, cutting target prices for MGL by 35% and IGL by 31% due to revised EBITDA estimates, concerns over slower growth & narrower margins.

Hindustan Aeronautics (HAL) shares rose 4% after the company announced a 22% increase in net profit for the quarter ending September 30, 2024. The company's net profit reached Rs 1,510 crore, up from Rs 1,237 crore in the same period last year. Revenue from operations also grew by 6% to Rs 5,976 crore.

Indian benchmark equity indices traded lower on Monday, weighed down by concerns over slowing earnings growth and foreign outflows. Additionally, comments from the Federal Reserve Chair signaling a slower pace of interest rate cuts further dampened market sentiment.

Emkay Global downgraded Honasa Consumer, the parent company of Mamaearth, to 'SELL' from 'BUY' and slashed its target price by 50% to Rs 300 after the company reported its first quarterly loss in five quarters due to weak demand and distribution challenges.

Goldman Sachs and Morgan Stanley downgraded their forecasts for Hong Kong and Chinese stocks, citing economic concerns and potential political impacts. While bullish on mainland China, Goldman Sachs believes Hong Kong will see limited growth and recommends mainland investments due to lower global sensitivity.

IT stocks came under pressure on Monday after US Federal Chair Jerome Powell’s comments suggesting a slowdown in interest rate cuts. Powell highlighted persistent inflation and a strong economy, allowing the Fed to approach decisions cautiously. Indian IT stocks, sensitive to US market moves, saw declines of up to 5%, with major companies like LTIMindtree and Wipro hit hardest.

Market braces for familiar governance; Globalisation still intact, says Viswas Raghavan of Citigroup

Indian benchmark equity indices traded lower on Monday, weighed down by concerns over slowing earnings growth and foreign outflows. Additionally, comments from the Federal Reserve Chair signaling a slower pace of interest rate cuts further dampened market sentiment.

The Nifty50 and S&P BSE Sensex fell nearly 2.5% last week on concerns over earnings moderation and foreign outflows. Meanwhile, a number of analysts have identified several stocks with the potential to deliver up to 19% returns in the near term. Here are 5 technical picks:

Hero Motocorp's shares surged 5% after reporting a 14% rise in Q2 net profit, reaching ₹1204 crore. Revenue grew 11% to ₹10463 crore, driven by record revenue from parts and accessories. Analysts are optimistic, citing rural market recovery, new launches, and strong brand equity as key growth drivers.

TCS experienced a 10% drop but formed a bullish pattern, hinting at a potential trend reversal. Experts suggest buying opportunities, citing the stock's bounce back from the 50-week moving average and a historical trend of 15% declines followed by upward movements. Technical analysis points towards a bullish outlook with a potential target of Rs 4,550.