Policymakers are poised to lift rates by a quarter point following a two-day policy meeting Wednesday, bringing the target on their benchmark rate to a range of 5.25% to 5.5%. Projections released by Fed officials in June showed most of them foresee at least one more rate hike by year end.

The company's chief executive Neeraj Saxena said the fresh funds will be used by the company to expand its loan book. Bhanshali and Balrampur Chini continue to be majority shareholders in the company post the fund raise.

Out of the 35 brokerages whose ratings and price targets are uploaded on Bloomberg, 15 have retained their price targets, while 19 raised them by 0.5% to 7.5%. The average price target of the 35 analysts at ₹2,162 is over 14% above Monday's closing price of ₹1,893.85.

The average price target of analysts is ₹2,790, which is about 12% above Reliance's closing price of ₹2,488 on Monday. The stock was down 2% over the previous day.

However, in a behaviour typical of the markets of buying on rumours and selling on news, the ITC stock that had hit a record high of ₹499.6 in the trading session on Monday eventually retreated 4%. The stock has gained over 40% year-to-date and the expectation of the demerger of its hotel business played a large role in this rally.

Bajaj Finance stock rose from Rs 5,937 on April 21 to Rs 7,581 on July 21, which translates into an upside of 27% in the last 3 months. In terms of price action, it is trading above most of the short- and long-term moving averages such as 5,10,30,50,100 and 200-DMA on the daily charts.

Trading turnover on NSE IX has been growing exponentially since the commencement of the full-scale operation of NSE IX-SGX GIFT Connect from SGX to NSE IX on July 3

As of Friday, second-quarter earnings are expected to decline by 7.9%, according to Refinitiv data

Recently, the market regulator had introduced an ASBA-like or Application Supported by Blocked Amount facility for secondary market transactions with an aim to safeguard investors’ money from misuse by stock brokers.

The investor has picked up 1.34% stake amounting to 11,26,765 equity shares in Zen Technologies during the reported quarter

Dragged down by heavyweights ITC and Reliance Industries, Indian equities tumbled for the second consecutive session on Monday. Nifty fell 73 to 19,672, while Sensex dropped to 66,385, down almost 300 points. Sector-wise, healthcare index gained the most, while FMCG pack emerged as the laggard, falling as much as 1.72%. Broader markets, on the contrary, posted a better show than their headline peers.“On the daily charts, we can observe that the Nifty is retracing the rise from 19303 – 19992. Currently, it is around the 50% Fibonacci retracement level and is expected to attract buying interest. The daily momentum indicator has triggered a negative crossover which is a sell signal. Both price and momentum indicators are indicating weakness. However, we are still of the opinion that this is a dip that should be bought into as the overall uptrend is still intact. In terms of levels, 19600 – 19580 shall act as a crucial support zone, and on the upside 19800 - 19840 shall act as an immediate hurdle zone,” said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.Here are the stock recommendations for Tuesday:

A Delaware court judge said on Friday declined to approve the proposed settlement by AMC in a case that has alleged the company planned to convert preferred stock to common to circumvent the will of common stock holders who had opposed the issuing of new shares

Sector-wise, buying was seen in infra, public sector, and capital goods stocks and selling in FMCG, metals, oil & gas and banks.

Dow rises 0.01%, S&P 500 opens higher by 0.16% and Nasdaq Composite gains 0.35% at the opening bell.

The said 20-day EMA has been holding for the past three months and has offered support for Nifty to witness upside bounces from it in the past, said Nagaraj Shetti of HDFC Securities. Open Interest (OI) data indicates a build-up of fresh short positions. FIIs were seen liquidating long positions in index futures as indicated by the Long-Short Ratio

After rallying over 40% in the last 6 months, ITC shares ended about 4% lower at Rs 470.90 on BSE after the FMCG major announced that it will hive off the hotels business into a new subsidiary. By doing this, ITC management has begun the process of addressing the biggest investor concern around the demerger of its non-cigarette business like hotels, agri and IT

Sector-wise, buying was seen in infra, public sector, and capital goods stocks and selling in FMCG, metals, oil & gas and banks.

Here’s a list of Dalal Street’s most researched stocks by analysts and brokerages, according to Trendlyne. India’s biggest private lender HDFC Bank is on the top of the list with 34 reports on its back and 27 buy calls. Take a look:

SEBI Chairperson Madhabi Puri Buch on capital formation, time to approve fund raising applications, GST numbers and more.

The markets regulator will consider permitting the delisting of companies via fixed price instead of the reverse book-building procedure, Chairperson Madhabi Puri Buch said on Monday

The market breadth was skewed in the favour of the bears. About 1,937 stocks declined, 1,763 gained, and 155 remained unchanged on the BSE.

WB Ramnavami Violence: SC Upholds Calcutta High Court Order for NIA Probe. The WB government had challenged the Calcutta High Court's order in the SC.

FPIs invest in Indian equities through two channels. One, the stock exchange route or the secondary market where they buy equities at prices quoted on the stock exchange. The other method is investment through the primary market route where FPIs invest in companies through initial public offer or qualified institutional placement offer (QIP). The latter method is used to buy a large stake with a lower impact cost and without inflicting large volatility in stock prices.

From the technical scan on MACD based on the previous day’s data (July 21, 2023), ETMarkets collated a list of major large and midcaps whose MACD line has crossed the signal line. This typically gives a bullish signal, suggesting the price of the stock can tick higher. Note: The further it is below the zero line, the stronger the signal. (Source: StockEdge)

Closing Bell: Sensex falls for 2nd day, ends 299 pts lower; Nifty below 19,700; United Spirits plunges 6%, IndusInd rises 2%

On July 21, 2023, Atul and Solar Industries India stood out by crossing their 50 Simple Moving Averages (SMA), leading to impressive increases in their stock prices. Atul is a leading player in the chemical industry, with its stock closing at Rs. 7014.15.

Retail investors can reap advantages simply by following the activities of institutional investors, who typically make substantial investments only after conducting thorough research. According to ET Markets analysis, mutual funds (MFs) have consistently increased their investments in 111 stocks listed on the BSE, with a market capitalization of over Rs 500 crore, throughout the last 4 quarters (from September 2022 to June 2023). Data indicates that most of these stocks have yielded positive returns over the past year. Moreover, there is a promising aspect as 51 stocks from the list have recorded gains exceeding 20%. Of these, we have highlighted 11 stocks that generated impressive returns ranging from 70% to 185% (Data Source: ACE Equity).

On July 21, 2023, several key stocks, including Shree Renuka Sugars, PVR Inox, Atul, Amara Raja Batteries, and City Union Bank, surpassed their 100 Simple Moving Averages (SMA) with impressive performances. Shree Renuka Sugars rose to Rs. 46.7, PVR Inox closed at Rs. 1504.1,

Supreme Petrochem is a leading player in the Indian petrochemical industry, involved in the manufacturing and distribution of a wide range of plastic products. On July 21, 2023, the stock price closed at Rs 446.40, surpassing its 20-day SMA of Rs 440.34.

RSI or Relative Strength Index can be used to know about stocks which are overbought, meaning that they are trading at a price higher than their fair or intrinsic value. So, ETMarkets has compiled the list of major midcap counters that are signalling an overbought state (Source: StockEdge) using the RSI metric.

Shares of Adani Enterprises were the best-performing stock, giving a whopping 38% returns since April. LIC holds a 4.26% stake in this Adani Group flagship company. Adani Ports and Special Economic Zone shares have given over 15% returns so far in the current financial year. LIC’s holding within the group is the highest in this company at 9.1%.

"After due consideration, the Board accorded its in-principle approval to the demerger of Hotels Business under a scheme of arrangement, with the Company holding a stake of about 40% in the new entity and the balance shareholding of about 60% to be held directly by the Company’s shareholders proportionate to their shareholding in the Company," ITC said.

ADX or Average Directional Index helps quantify signal strength. The tool can be used in respect of any investment vehicle including stocks, mutual funds, ETFs and derivatives. Here we have listed 5 major stocks that are said to be in the trending phase as the ADX crossed 25 from below. Note the data is based on the previous trading day’s data (July 21, 2023). (Source: StockEdge)

Trendlyne has reported that 45 stocks, including Larsen & Toubro, HDFC Life Insurance, and ITC, have experienced the Golden Crossover pattern, which indicates a potential shift in momentum from bearish to bullish. This pattern occurs when a stock's short-term moving average crosses over the long-term moving average

"After due consideration, the Board accorded its in-principle approval to the demerger of Hotels Business under a scheme of arrangement, with the Company holding a stake of about 40% in the new entity and the balance shareholding of about 60% to be held directly by the Company’s shareholders proportionate to their shareholding in the Company," ITC said.

Twenty-four stocks on the overbought zone exhibited a declining RSI trend, according to StockEdge. Among the ten selected overbought stocks with a bearish RSI trend are Bajaj Finserv, Alembic Pharmaceuticals, Rallis India, and Cipla.

Over 80 stocks, including Mphasis, Tanla Platforms, United Spirits, Ashok Leyland, and Union Bank of India, were reportedly trading in an overbought zone as of July 21, indicating potential price corrections. Technical indicator Relative Strength Index (RSI) values of 70 or more suggest an overbought condition

The data was sourced from BSE at 1.20 pm, and the updates from the real-time data could come with a lag. The below data also pertains only to the time at which it was taken.

"After due consideration, the Board accorded its in-principle approval to the demerger of Hotels Business under a scheme of arrangement, with the Company holding a stake of about 40% in the new entity and the balance shareholding of about 60% to be held directly by the Company’s shareholders proportionate to their shareholding in the Company," ITC said.

The stock hit a 52-week high of Rs 775 on 7th November 2022 but it failed to hold on to the momentum. The stock found support at Rs 557 on 29th March 2023 and then bounced back.

Rekha Jhunjhunwala, wife of late investor Rakesh Jhunjhunwala, cut stakes in as many as seven companies during the June quarter, whereas she likely exited three other stocks as her shareholding dipped below 1% in these companies. Please note, companies are required to disclose the names of investors who hold 1% stake or more. (Source: Trendlyne)

Tariff hike is the biggest catalyst for investors in the telecom sector. Jio's ARPU, which has grown from Rs 130 in FY20, is seen growing to Rs 202 in FY26. Analysts from Kotak Institutional Equities see the possibility of a tariff hike only after the Lok Sabha elections in April-May 2024.

The S&P BSE MidCap Index saw an impressive display of strength on July 24, 2023, with companies like Aurobindo Pharma, Canara Bank, and General Insurance Corporation leading the rally.

India's second-largest private sector lender ICICI Bank's June quarter standalone profit after tax (PAT) recorded a growth of 39.7% year-on-year (YoY) to Rs 9,648 crore. ET NOW poll had estimated PAT at Rs 9,300 crore. Its net interest income (NII) increased by 38% YoY to Rs 18,227 crore

On July 21, StockEdge reported that 29 stocks with Relative Strength Index (RSI) were trending down, indicating a possible shift in their price trends in the stock market. The RSI, which ranges from 0 to 100, is widely used to identify overbought and oversold conditions in a stock, and values above 70 suggest the stock

The RSI is a technical indicator that measures the speed and change of price movements. It oscillates between 0 to 100 and is typically used to identify overbought or oversold conditions in a stock. An RSI value above 70 indicates that the stock is overbought and may be due for a correction, while an RSI below 30 suggests that the stock is oversold and might experience a rebound.

Several companies within the S&P BSE 100 Index achieved new 52-week highs on July 24, 2023, with some standouts being Ashok Leyland, Grasim Industries, and United Spirits. ICICI Bank, L&T, ONGC, and Tata Motors DVR also reached new highs. The data was sourced from BSE at 12.40 pm, and updates could come with a lag.

The Nikkei ended the day up 1.23% at 32,700.94. Of the index's 225 components, 198 rose, while 25 fell and two were flat. The broader Topix added 0.84% to 2,281.18. Transport equipment makers gained 1.65% to be among the top three industry sectors on the Tokyo Stock Exchange.

The state-owned firm also inked an initial pact with REC for securing finance of Rs 50,000 crore for projects of its subsidiaries and joint ventures. REC will provide financial assistance to set up new power generating stations based on conventional and renewable sources of energy, according to a statement on Friday.