The commercial vehicle maker hit a record high of Rs 191 on 11th August 2023 but witnessed some profit-taking on Monday, 14th August. The stock has been making higher highs and higher low formation for the past 5 months.

For the purpose of this report, we have filtered out stocks wherein the count of analysts is up to 43 and upside potential is up to 37%.

Given the huge difference in what is value and what looks cheap due to one financial ratio, more often than not, relying on PE may lead to wrong investment decisions. PE ratio is one of the most overused and misused ratios, it is used by all and sundry to justify their valuations and create a mirage of value. Right from investor presentations to research reports, one finds its mention everywhere. Is there any alternative to it?

ITC shares gained 1.5% to hit the day's high of Rs 456 on the NSE and were top gainers in the Nifty pack despite a negative trade by the frontline indices Nifty50 and BSE Sensex which were down 0.5% in the opening trade.

Divi's Laboratories on Monday saw a 49% year-on-year (YoY) fall in its consolidated net profit at Rs 356 crore for the quarter ended June 2023. The profit was below the ET Now poll estimate of Rs 407 crore. It was Rs 702 crore in the year-ago quarter. Revenue from operations during the first quarter dropped 21% to Rs 1,778 crore, compared with Rs 2,255 crore in the same quarter of last year.

Nifty PSU Bank which comprises 12 stocks has yielded nearly 60% in returns in the last 12 months, which is higher from 10%, 13.68% and 14.92% returns given by Nifty50, Nifty Bank and Nifty Private Bank, respectively, during this period. The story remains the same over 6 months, 1 month and the most recent week.

During the June quarter, State Bank of India (SBI) defeated India's most valuable company Reliance Industries (RIL) to emerge as the most profitable firm in Q1. Check the full list of the 10 most profitable companies in Q1. (Data Source: ACE Equity)

The downgrade was largely on account of the 1Q margins miss. Going forward, investments are likely to drive growth that will likely keep margins low. Valuations are in a fair value zone.

The government is planning to introduce a production-linked incentive (PLI) scheme for train component makers as part of its efforts to attract foreign manufacturing firms and reduce dependence on imports, people aware of the matter said.

Led by the robust institutional response, the initial public offer (IPO) of SBFC Finance was subscribed by a massive 70.16 times at close. Monday was the last day of bidding for investors.

With more shares getting freed up from the promoter's belt, the move would also lead to a change in weightage in MSCI and FTSE indices. Considering that today's deal size was about 15.6 million shares, Nuvama said FTSE should include additional floating shares within the next few days.

Sensex’s non-stop run northwards since March saw the 30-stock index rally close to 15% and hit a lifetime high of 67,619.20 points on July 20. This rally was backed by strong inflows of nearly $19 billion from foreign institutional investors, and steady inflows from domestic institutional investors.

"Birla Cable is a premier company in the field of Telecommunication Cables, which offers one of widest portfolio of Copper and Fibre Optic cables under its umbrella. The quarterly Net Profit stood at Rs. 11.98 crore in June 2023 up 292.91% from Rs. 3.05 crore in June 2022. The stock offers 50-70% upside from current levels in next 1-1.5 years," Girish Sodani, Head of Equity Market at Swastika Investmart Ltd, said.

The daily trend of Tata Consultancy Services is bullish to sideways. RSI for monthly, weekly and daily are showing sideways momentum. Based on option chain analysis, the range is between 3200 and 3500. Let’s plan a trade around this.

Sensex falls over 300 points, Nifty below 19,350; Coffee Day surges 6%, IndiGo drops 4%; Vodafone Idea, InterGlobe Aviation, YES Bank are some of the losers in the morning trade.

From the Sensex pack, HDFC Bank, Tata Steel, Tata Motors, SBI, Titan, and Bajaj Finance opened lower, while Infosys, ITC, Tech Mahindra, Wipro, and Power Grid opened with gains.

India VIX was up by 4.12% from 11.52 to 11.99 levels in the previous trading session. Volatility spiked to 12.75 during the day but later cooled off thus paving the way for the bulls at support zones.

GIFT Nifty on the NSE IX traded 88.5 points, or 0.45 per cent, lower at 19,385.50, signaling that Dalal Street was headed for negative start on Wednesday. Here's a slew of stocks that will be in focus today for various reasons.

ET Now spoke to various experts and here's what they have to recommend for today's trading session. Kunal Bothra has a buy/sell recommendation on RIL and Titan while Nooresh Merani has a buy/sell recommendation on NMDC and Care ratings for today's trading session. Check out the targets and stoploss.

In the NSE list of stocks with a market cap of over Rs 1000 crore, four stocks close prices crossed above their 200 DMA (Daily Moving Averages) on August 14, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.

Four stocks with a market cap of over Rs 10,000 crore witnessed a 5-year swing high at the close on August 14, suggesting bullishness in counters, according to stockedge.com's technical scan data.A 5-year swing high represents the highest price a stock has reached within a five-year timeframe. This level acts as a significant resistance point where the price has historically struggled to go beyond. This occurrence may be seen as a bullish sign, indicating the potential for further upward movement in the stock.However, it's worth noting that this is different from a 5-year breakout, which occurs when a stock's price surpasses a key resistance level that has held for five years or longer.

Stocks that were in focus include names like Patanjali Foods, which fell 0.16%, PVR Inox, which rose 4.77%, and Nykaa, whose shares declined 8.28% on Monday.

The PBOC also unexpectedly lowered its policy rate on Tuesday, earlier than many investors had expected and possibly probably triggered by the string of disappointing data on loans and credit, the housing market and trust industry as well as the threat of deflation.

Goldman Sachs, as one of the biggest providers of lending and trading services through its prime brokerage unit to investors, is able to track hedge funds' investment trends.

Banks saw the brunt of the selling as investors grew more anxious about interest rates. The U.S. Treasury yield curve has been inverted for over a year, with longer-term bonds yielding less than short-term debt instruments. This persistent situation pressures profits that banks can earn on loans.

Option data suggests a broader trading range in between 19000 to 19800 zones while an immediate trading range in between 19200 to 19600 zones.

"Bajaj Hindusthan Sugar stock has witnessed a breakout from a 15-year descending trendline pattern on the weekly charts. While a monthly close above the breakout area is preferred, the stock has confirmed a breakout on Heikin Ashi charts which has a higher degree of breakout confirmation. Buy for a target of Rs 31," Gaurav Bissa, VP, InCred Equities, said.

ITC reported a 18% growth in net profit at Rs 4,903 crore in Q1. Revenue from operations declined 8% to Rs 15,828 crore. The net profit was higher than an ETNow poll of Rs 4,769 crore, but revenue was lower than the estimated Rs 16,893 crore.

Mid-sized pharma companies having brands that are not in top-ten in their therapies are likely to face the most brunt if doctors are compelled to write only generic names in their prescriptions to the patients.

In his latest monetary policy statement, governor Shaktikanta Das imposed a temporary incremental cash reserve ratio (I-CRR) of 10% on incremental deposits received between 19th May and 28th July 2023 given the surge in surplus liquidity in the system. The I-CRR would be reviewed on 8th Sep’23

While the scale of the rise has triggered worries of more rate hikes, these concerns are partially offset by the easing in core inflation, which strips out the volatile components of food and fuel. While elevated food prices may spill over into the August CPI print as well, government interventions and fresh crop arrivals should rein in the rise in food prices going ahead, economists said.

Inflation pressures are easing, which could give policymakers room to keep interest rates at or near current levels for the time being. Still, price gains remain well above the central bank's 2% target, making policymakers hesitant to declare victory.

Indigo Airlines' promoters, the Gangwal family, are selling $450 million worth of shares in a block deal through bankers Morgan Stanley, JPMorgan, and Goldman Sachs. The family is offering 5.6% of its shares at a floor price of INR 2,400 ($32.27) per share. Indigo had a net profit of INR 3,090 crore ($414.98 million) in Q1, with a revenue of INR 17,160 crore ($2.30 billion). At the end of June, it had a fleet of 316 aircraft and a 36.66% stake held by the Gangwal family.

Rare Asset Reconstruction Company plans to become the top lender by buying Cafe Coffee Day chain operator's loans. Rare ARC is said to have offered to pay upfront 60-65% of the outstanding dues. Last week, Rare ARC acquired a loan of Coffee Day Global worth Rs 110.4 crores for Rs 68 crore. CCD has a debt of Rs 960 crores as of 2022.

Bajaj Hindusthan stock has witnessed a breakout from a 15-year descending trendline pattern on the weekly charts which has opened room for the stock to hit record highs in the coming months. The breakout was accompanied by strong volumes which is a sign of strength. It has also witnessed strong accumulation in the last few quarters.

The S&P 500 opened lower by 10.85 points, or 0.24%, at 4,478.87, while the Nasdaq Composite dropped 27.85 points, or 0.20%, to 13,760.48 at the opening bell.

The prospect of slower global price pressures may be one of the few upsides of China’s descent into deflation as the economy struggles to regain its footing after a post-Covid bounce faded. Inflation is likely to remain muted as a property slump and troubles in the shadow banking industry curb spending and investments by both consumers and companies.

Indian equities pared the day’s losses and ended with marginal gains on Monday after the July wholesale inflation contracted by 1.36% YoY. Nifty settled 6 points higher at 19,434 while Sensex gained 79 points to end at 65,402. Sectorally, FMCG, IT and Media indices ended with gains, while all others registered losses, with Nifty Metal and Nifty PSU Bank emerging as the top losers.“Nifty recovered after a two-day fall but made a lower top, lower bottom formation. It has formed a high wave type pattern suggesting a small bounce. The 19563-19576 band could be the next resistance while the 19,201-19,234 band could offer support in the near term,” Deepak Jasani, Head of Retail Research, HDFC Securities, said.Here are the top stock recommendations for Wednesday's trade:

Stocks that were in focus include names like Motilal Oswal which closed with gains of over 3%, Aurobindo Pharma which rose over 1% to a fresh 52-week high and ESAB India which settled 3% higher on Monday.

Indigo Airlines' promoters, the Gangwal family, are selling $450 million worth of shares in a block deal through bankers Morgan Stanley, JPMorgan, and Goldman Sachs. The family is offering 5.6% of its shares at a floor price of INR 2,400 ($32.27) per share. Indigo had a net profit of INR 3,090 crore ($414.98 million) in Q1, with a revenue of INR 17,160 crore ($2.30 billion). At the end of June, it had a fleet of 316 aircraft and a 36.66% stake held by the Gangwal family.

Three out of four respondents expect a soft landing or no landing in global growth and the proportion of those expecting weaker growth fell markedly to net 45% from 60% in July.

Every time you buy a stock or do a trade of futures and options on a stock exchange or gold futures are bought on commodity exchange one part of the financial ecosystem makes money. If one looks at average traded volumes on stock exchanges over the last three decades it has been growing continuously since 1995. As the volumes grow, the earnings of some companies will continue to grow. ET screener powered by Refinitiv’s Stock Report Plus lists down stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy".

Three out of four respondents expect a soft landing or no landing in global growth and the proportion of those expecting weaker growth fell markedly to net 45% from 60% in July.

Every time you buy a stock or do a trade of futures and options on a stock exchange or gold futures are bought on commodity exchange one part of the financial ecosystem makes money. If one looks at average traded volumes on stock exchanges over the last three decades it has been growing continuously since 1995. As the volumes grow, the earnings of some companies will continue to grow. ET screener powered by Refinitiv’s Stock Report Plus lists down stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy".

Bond yields across Europe jumped, with UK gilts spiking after data showed basic wages in Britain surged to hit a new record growth rate.

Under the guidance of the State Council, regulators including the Ministry of Finance are discussing a draft proposal, the report said, citing people familiar with the matter.

Last week both Nifty and to some extent even mid-cap indices saw some correction. But mid-caps are still a part of the ongoing party on the street. Stocks from sectors like fertilizer, wealth management, specialty chemicals have come on the list. ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists stocks which fulfill the various criteria as specified into the algorithms & filters to find those which might help navigate the stock market.

In August 2021, one sector which had “ buy and strong buy” written all over it was IT or more commonly called software sector. Today, a number of them have “hold” recommendations by analysts. In case of stocks where they have buy recommendations their price targets are very modest, or in a number of cases analysts are expecting that the valuations of IT stock are still high and there is room for further decline in prices, Though they have refrained from giving “ sell” recommendations. Stock Reports Plus, powered by Refinitiv, is a comprehensive research report that evaluates five key components of 4,000+ listed stocks - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores.

Investors' response to stronger-than-expected economic growth data was limited as the outcome was already expected, said Suzuki.

In the world of investing, having a sound portfolio strategy is not enough. Investors focus and spend too much time on selection issues – which fund to buy and which stock to sell. Execution gaps combined with dysfunctional investor behaviours nearly always lead to poor outcomes and may derail a well-conceived investment plan.