A possible stake sale of its 44% holding in Adani Wilmar will help Adani Group free up capital for its core businesses, Bloomberg reported last night saying that Wilmar, the Singapore-headquartered food conglomerate co-founded by billionaire Kuok Khoon Hong in 1991, could decide to retain its stake in the business.

From the Sensex stocks, ICICI Bank, Maruti, HCL Tech, Wipro, HUL, and Reliance Industries opened in the red, whereas Sun Pharma, NTPC, Power Grid, Titan, Bajaj Finserv, and Nestle opened higher.

Inflation will take centre-stage during the 3-day panel discussion in the backdrop of the recent surge in vegetable prices, particularly tomatoes. Since June, prices of tomatoes have increased by more than 5 times.

Adani Ports reported a consolidated net profit of Rs 2,115 crore for the quarter ended June 2023, which is higher by 83% compared with Rs 1,158 crore in the same quarter last year. Revenue from operations jumped 24% year-on-year (YoY) to Rs 6,248 crore in the June quarter. The same stood at Rs 5,058 crore in the same quarter last year.

In the first quarter, the share of mutual funds in NSE-listed companies dropped for the first time in seven quarters. However, 10 companies including CMS Infosystems, KIMS have seen the highest increase in mutual fund holdings. Source: Primeinfobase

Zee Entertainment Enterprises’s daily trend is bullish to sideways. RSI for monthly is showing sideways momentum, however, RSI for weekly and daily is showing bullish momentum. Based on option chain analysis, the range is between 200 and 250. Let’s plan a trade around this.

The company is also implementing efforts for bed additions to boost growth momentum over the next three to five years, said the note. It continues to evaluate the inorganic opportunities as well.

The Nifty opened with a gain but slipped soon after.

Adani Enterprises, a prominent conglomerate in India, is mulling the divestment of its stake in the consumer-staple joint venture it shares with Wilmar International. The conglomerate has been actively considering the possibility of selling its 44 per cent stake in the esteemed venture, Adani Wilmar, for several months. In a special segment 'Editor's Take', ET NOW Managing Editor Nikunj Dalmia noted the latest development shows where the group wants to migrate.

"Route Mobile is among the leading Cloud Communications Platform. Regarding stake sale of existing promoters to Proximus Opal (Proximus), management claimed that the deal would create significant value for minority shareholders. We remain positive on long-term growth prospects, and maintain a buy rating on the stock with a target of Rs1,780," Narendra Solanki, Head Fundamental Research - Investment Services, Anand Rathi Shares and Stock Brokers, said.

Global brokerage firm BofA Securities is bullish on a few sectors and stays overweight on financials, auto, staples and healthcare stocks. Meanwhile, these sectors' stocks include HDFC Bank, Sun Pharma, Tata Motors, and Maruti Suzuki."We continue to stay OW on financials (cheap valuations, low risk of large earnings cuts), industrials (strong capex/real estate upcycle), select autos (passenger & commercial vehicles on volume growth as well as margin expansion) and healthcare (better pricing in the US, strong India/specialty business). We move staples to OW stance on green shoots of rural recovery," said BofA.

From the Sensex stocks, ICICI Bank, Maruti, HCL Tech, Wipro, HUL, and Reliance Industries opened in the red, whereas Sun Pharma, NTPC, Power Grid, Titan, Bajaj Finserv, and Nestle opened higher.

Sensex drops 100 points, Nifty below 19,600; Adani Wilmar falls 4%, PB Fintech 3%; Sun pharma, NTPC, Powergrid are some of the gainers in the morning trade.

“Options data suggests a broader trading range in between 19000 to 20,000 zones while an immediate trading range in between 19,300 to 19,700 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

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 GAIL and Laurus Labs while Nooresh Merani has a buy/sell recommendation on GAIL and Federal Bank for today's trading session. Check out the targets and stoploss.

Seven stocks with a market cap of over Rs 1000 crore crossed above their 200 DMA (Daily Moving Averages) on August 08, 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.

“Options data suggests a broader trading range in between 19000 to 20,000 zones while an immediate trading range in between 19,300 to 19,700 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

Stocks that were in focus include names like Hindalco, which fell 2.12%, Dixon, which rose 3.6%, and Inox Wind, whose shares jumped 8.40% on Tuesday.

In the NSE list of stocks with a market cap of over Rs 10,000 crore, we have collated a list of 10 counters that witnessed a 5-year swing high at the close on August 8, 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.

GIFT Nifty on the NSE IX traded 45 points, or 0.23 per cent, higher at 19,605.50, signaling that Dalal Street was headed for positive start on Wednesday. Here's a slew of stocks that will be in focus today for various reasons.

With shareholders quizzing Chandrasekaran on Tata Motors’ equity capital reduction move at the annual general meeting (AGM) on Tuesday, the chairman said that it is being done with the objective of fairness for both kinds of shareholders (ordinary and DVR). He added that Tata Sons (promoter) approved the move on the basis of what is good for the company and in the interest of shareholders.

The much-watched data on Wednesday showed China's consumer prices fell 0.3% in July from a year ago, slightly better than expected but the first decline since February 2021. Producer prices dropped for a 10th consecutive month. The data followed disappointing trade figures a day earlier that fuelled concerns about the global economic outlook.

After a five-month rally pushed the benchmark S&P 500 and Nasdaq Composite within 5% of their lifetime highs, August has now recorded five losing sessions out of six. The S&P is down 2% this month, with the Nasdaq dropping 3.2%.

"NBCC has been one of the few PSU stocks to not participate in the strong rally seen in many of the other names. The stock has also triggered a buy signal in the Ichimoku setup which can result in a fresh uptrend. The stock is witnessing aggressive volumes since the last few weeks which can act as fuel to propel the stock towards 55 levels," Gaurav Bissa, VP, InCred Equities, said.

Promoters Inox Wind Energy and Devansh Trademart have sold 4.5% and 2.8% stake each in Inox Wind through block deals at a weighted average price of Rs 208 a piece.

"On our net debt journey, I expect Tata Motors domestic business to become near net-debt zero in FY24 and JLR in the following year," he said. His remarks come against the backdrop of strong operational performance of all the three business verticals comprising commercial vehicles, domestic passenger and electric vehicles and Jaguar Land Rover delivering on their strategies in FY23.

The 50:50 joint venture (JV) between Adani and Wilmar was set up in 1999. The company raised Rs 3,600 crore by way of an initial public offering in February 2022, bringing the stake of the two JV partners down to 43.97% each.

​​"​Mumbai and Bengaluru are global cities with an incredible talent pool," said Deepak Mangla, CEO, corporate centers, India & the Philippines, JPMorgan Chase.

Boards of RInfra and RPower approved the preferential allotment on Saturday following which a notice was issued for shareholder approval on Sunday. Authum had completed the takeover of Anil Ambani companies RCFL and RHFL through a lender-led process in October and March, respectively.

Bank of India has circulated a list of bad loans with a total outstanding of ₹15,000 crore to be considered for sale during the current financial year to asset reconstruction companies and other entities. The lender looks to enhance profitability from its legacy non-performing asset (NPA) accounts. The debt on sale has increased multifold compared with the previous year when the lender had showcased ₹3,000 crore, a bank source said.e

Kirloskar Brothers has become the first company to disclose its promoters' entire ‘deed for family settlement’ (DFS) according to new regulations by India's Securities and Exchange Board. The agreement deals with the distribution of assets, transfer of shares, ownership of entities and execution of the deed, among other factors.

Banks have come together to reject a proposal by corporate lobbies to club borrowers tagged as 'fraud' accounts with 'wilful defaulters'. Senior bankers, who had discussed the suggestion over the last few weeks, arrived at the decision while preparing a standard operating procedure (SOP) for dealing with borrowers before declaring an account as a fraudulent one.

The broader market, however, ended positive. The Nifty Midcap 150 index gained 0.26% and Nifty Small-cap 250 index rose 0.16%. Foreign portfolio investors sold shares worth ₹711.34 crore on Tuesday. Domestic institutions were buyers to the tune of ₹537.31 crore.

BofA's US economists earlier this month revised its outlook for the world's largest economy in favour of a 'soft landing'. US Gross Domestic Product (GDP) in 2023 could grow 2.0%, 0.7% in 2024, and 1.8% in 2025, they said.

A better pricing environment in the US, impending product launches, and prospects of superior profitability are also seen boosting the earnings of the company going ahead, analysts said.

Short-term traders can look to buy the stock for a possible target of Rs 55 in 2-3 months, suggest experts. The S&P BSE 500 stock has a market capitalization of over Rs 8600 crore. It hit a 52-week high of Rs 48.89 on August 7. In terms of price action, the stock is trading above most of the crucial short- and long-term moving averages of 5,10,30,50,100, and 200-DMA on the daily charts.

Rating agency Moody's on Monday downgraded the credit ratings of 10 U.S. banks by one notch. It also placed the ratings of six institutions, including some of the nation's largest, on review for potential downgrades. The downgraded banks include Pinnacle Financial Partners, Prosperity Bank, BOK Financial Corp and M&T Bank Corp. Associated Banc-Corp was earlier downgraded in April.

​Indian billionaire Gautam Adani and his family may retain a minority stake in a personal capacity following a sale, the people said. Wilmar, the Singapore-headquartered food conglomerate co-founded by billionaire Kuok Khoon Hong in 1991, could decide to retain its stake in the business, one of the people said

The agency cut ratings on 10 small- to mid-sized lenders by one notch and placed six banking giants, including Bank of New York Mellon, U.S. Bancorp, State Street and Truist Financial, on review for potential downgrades

Promoters Inox Wind Energy and Devansh Trademart have sold 4.5% and 2.8% stake each in Inox Wind through block deals at a weighted average price of Rs 208 a piece

Indian equities snapped a two-day winning streak on Tuesday and ended lower amid a weak global market trend. The 30-share BSE Sensex fell 107 points to settle at 65,846.50. The Nifty was dragged down by a minor 26 points to 19,571. Meanwhile, the Bank Nifty ended on a positive note.“The short-term trend of the Nifty remains choppy. A move below 19,500 levels could open further weakness down to the next lower supports of 19,400-19,350 levels. A decisive move above the hurdle of 19,700 is likely to bring a sharp upside momentum to the market,” says Nagaraj Shetti, Technical Research Analyst at HDFC Securities.Here are stock recommendations for Wednesday:

In the US, bank stocks dropped after Moody's cut the credit ratings for several smaller and midsized ones amid a long list of concerns about their financial strength

Promoters Inox Wind Energy and Devansh Trademart have sold 4.5% and 2.8% stake each in Inox Wind through block deals at a weighted average price of Rs 208 a piece

Companies that had cut back on their marketing budgets are looking to advertise again, bolstered by hopes of improving consumer sentiment as inflation has begun to cool

Bank of America analysts see the domestic market riding on large and mid-cap stocks from the financial, industrial, auto, staples, and pharma stocks, where it is overweight and cautious/under-weight on IT, utilities, materials and discretionaries.

The Commodity Futures Trading Commission separately fined affiliates of five of the same group another $260 million for related issues: Wells Fargo, BNP Paribas, Societe Generale, the Bank of Montreal and Wedbush Securities Inc

The Wall Street Journal said Walmart bought the shares from Tiger Global recently, valuing the Indian company at about $35 billion. This is down from a near-$38 billion valuation which Flipkart had attained in 2021.The U.S. retailer bought a 77% stake in Flipkart for about $16 billion in 2018

The agency cut the ratings on 10 lenders by one notch and placed six banking giants, including Bank of New York Mellon , US Bancorp, State Street and Truist Financial, on review for potential downgrades. Big banks Goldman Sachs and Bank of America eased 2.7% and 3.6%, respectively, while Bank of New York Mellon and U.S. Bancorp shed 2.6% and 4.9%.

The agency cut the ratings on 10 lenders by one notch and placed six banking giants, including Bank of New York Mellon , US Bancorp, State Street and Truist Financial, on review for potential downgrades. Big banks Goldman Sachs and Bank of America eased 2.7% and 3.6%, respectively, while Bank of New York Mellon and U.S. Bancorp shed 2.6% and 4.9%.

Dow down 128 points, S&P 500 opens lower by 20 pts and Nasdaq Composite drops 118 points