Investors who participated in the buyback will get their payment by July 7, and the unaccepted shares will also be returned to shareholders by the 7th of this month. The record date of Wipro's share buyback, which ran from June 22-30, was June 16. The share buyback price was fixed at Rs 445, while the closing price on the record date was Rs 381.30, implying a premium of 16.7%.

Shares of Indian telecom operators, including Bharti Airtel and Vodafone Idea, fell between 2% and 3% after Reliance Jio announced plans to launch a $12 4G phone targeting the untapped entry-level 2G market in India. Analysts at Jefferies predict that Jio's new phone could boost its subscriber additions by 20-22 million annually, resulting in a 2-3% increase in revenue and operating earnings in the next fiscal year. The move is expected to have a negative impact on the revenue and operating earnings of rival Bharti Airtel by 1-2%.

So far in FY24, Nifty surged over 11% on strong FII inflows, fall in crude oil prices and low inflation. Meanwhile, MarketSmith has a positive view on some stocks that it believes are near the buy point. These stocks include MRF and Elecon Engineering. Here is a list of 4 stocks that are near the buy point, as listed on MarketSmith:

V-Guard Industries, a household appliance company, has seen a significant rally in its stock price, reaching a new record high. Technical analysis reveals an inverted head and shoulder pattern, indicating a potential continuation of the upward trend. The stock is trading well above key moving averages, and the RSI suggests an overbought condition, implying a possible pullback. The MACD indicator is also bullish. Experts predict further price increases, with a target level of Rs 340 and a stop loss at Rs 255.

The Nifty continues to form a new high every day, more number of mid-caps stocks are joining the party. Stocks from sectors like speciality chemical, agro chemical and services sector are making it to 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.

Despite already experiencing a strong rally over the past year, battery manufacturer Exide Industries' stock continues to rise, outperforming the Nifty50 by over 40%. The stock hit a 52-week high and is expected to have a further 25% increase. Technical analyst Rajesh Palviya recommends buying the stock and sees correction as a buying opportunity. HDFC Securities has a 'buy' view on the stock and anticipates up to a 19% upside. The company's battery management system subsidiary has a promising order book and the collaboration with Svolt, China for a lithium-ion battery manufacturing plant could provide a medium-term trigger.

Shares of Hero MotoCorp, a 2-wheeler manufacturer, rose 3% after it launched the co-developed premium motorcycle, Harley-Davidson X440, in India. This marks the first entry of Hero MotoCorp and Harley-Davidson into the 440cc segment in India. The motorcycle will be available in three variants and is priced competitively. Analysts believe this move by Harley-Davidson could help it gain a significant market share in the premium segment. Initial sales are expected to be around 3-4k units per month, with potential to ramp up to 5-10k units per month in the future.

The merger between HDFC Bank and ICICI Bank is expected to narrow the valuation gap between the two banks. Historically, HDFC Bank has commanded a higher valuation premium, but in recent years, ICICI Bank has shown consistent earnings performance and growth. Post-merger, HDFC Bank's net interest margin is expected to decline due to an increase in the share of mortgages in its loan mix. However, HDFC Bank's investment thesis remains solid, with the bank confident of sustaining healthy loan growth. Despite being bullish on HDFC Bank, most analysts predict similar valuation multiples for both banks in the near to medium term.

Shares of IDFC First Bank dropped by up to 6% following the announcement of a merger with parent company IDFC. The share swap deal appeared to favor IDFC, leading to a higher stock price for IDFC and a lower price for IDFC First Bank. Nuvama Institutional Equities recommended entering into a spread trade at an adequate level, which is unlikely to occur. The merger is subject to regulatory approvals and is expected to take 12 to 15 months to complete.

Shares of Genus Power Infrastructures soared over 15% after the company secured a Rs 2,207.53 crore order for the design, installation, and commissioning of 27.69 lakh smart prepaid meters. Jitendra Kumar Agarwal, Joint MD of the company, said the order win provides added revenue visibility for the coming years and signals a strong start to order inflow in FY24. The implementation of the Revamped Distribution Sector Scheme (RDSS) is expected to have a significant impact on the Indian metering industry. The stock has surged 67% year-to-date.

Shares of Bajaj Finance surged 8% to reach a 52-week high of Rs 7,916.70 following a positive quarterly update. The company reported a 34% increase in new loans booked during Q1 compared to the same quarter last year. Bajaj Finance also recorded the highest-ever quarterly growth in assets under management, which reached approximately Rs 270,050 crore. Its customer base also grew to 72.98 million. With the stock's impressive performance in recent years, global brokerage firm Jefferies reiterated its buy rating and target price of Rs 8,310.

Indian benchmark Sensex has risen 150% since March 2020 with 25 of its constituents turning into multibaggers. Tata Motors, Tata Steel, and Titan Company have outperformed the index, with Tata Motors seeing the best returns, multiplying its value more than 8 times. Mahindra & Mahindra and Maruti Suzuki India also turned multibaggers due to pent-up demand for four-wheelers and a shift towards premium categories. Banks like State Bank of India, Axis Bank, ICICI Bank, and IndusInd Bank have also outperformed, whereas the IT sector, except for HCL Technologies and Infosys, has seen multibagger returns. Bullish investors expect steady returns in 2023, particularly in domestic-oriented sectors.

“Blue Dart Express (BDE) is an express logistics airline for which the cost of aviation turbine fuel (ATF) accounts for ~40% of direct operating costs. With an improved outlook, we believe the stock is attractively valued for a 1-yr target of Rs 8040,” Sneha Poddar, Associate Vice President at Motilal Oswal Financial Services Limited, said.

HMA Agro Industries, a major player in the export of packaged frozen buffalo meat, saw its shares listed at a premium on the NSE and BSE, with a strong response from non-institutional investors and qualified institutional buyers during its IPO. Despite subdued interest from retail investors, the IPO was fully subscribed. The company plans to use the proceeds to fund working capital requirements and for general corporate purposes. HMA Agro is also diversifying into other food processing and export products, such as frozen fish and basmati rice.

At fresh highs! Sensex jumps nearly 400 points, Nifty tops 19,400; Bajaj Finance rallies 5%, SpiceJet 4%; IDFC, Vodafone Idea, YES Bank are some of the gainers in morning trade.

JSW Steel’s daily trend is bullish to sideways. RSI for monthly, weekly and daily is showing bullish momentum. Based on option chain analysis, the range is between 750 and 800. Let’s plan a trade around this.

From the Sensex pack, Bajaj Finance and Bajaj Finserv were the top gainers, rising 7.3% and 4.6%, respectively. Titan, L&T, Asian Paints, Wipro, TCS, IndusInd Bank and Asian Paints also clocked gains in opening deals. On the other hand, Bharti Airtel, NTPC, Axis Bank, Tata Steel, and Kotak Bank traded with cuts.

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 Jubilant Food while Nooresh Merani has a buy/sell recommendation on Jindal Steel and Biocon for today's trading session. Check out the targets and stoploss.

Bajaj Finance received a buy rating from BofA Securities, with a target price of Rs 8700. The firm recorded strong growth in core asset under management and is on track to exceed its customer acquisition guidance. Avenue Supermarts was given an Equal-Weight rating by Morgan Stanley, with a target price of Rs 3786. Marico and Dabur India both received an overweight rating from Morgan Stanley, with target prices of Rs 611 and Rs 606 respectively. Morgan Stanley expects both companies to report improved year-on-year growth.

The Indian market is expected to see consolidation on Tuesday, influenced by mixed global cues. The S&P BSE Sensex and Nifty50 closed positive on Monday. The India VIX experienced a slight increase in volatility. The options data suggests a trading range between 19,000 and 19,600 zones with immediate support at 19,100 and 19,000 levels. According to experts, stocks like State Bank of India, Infosys, Divi's Laboratories, and Lemon Tree are good options for those with a short-term trading horizon. These recommendations are solely the views of the experts and do not represent the opinions of Economic Times.

Indiabulls Housing Finance stock is under the F&O ban for trade, but will still be available in the cash market. The ban is put in place when the open interest on a stock exceeds 95% of the market-wide positions limit, and is lifted when it falls below 80%. Indiabulls Housing's open interest stood at 86.6% on Monday. Indian headline indices, including the S&P BSE Sensex and Nifty50, reached all-time highs on Monday. Analysts expect the upward trend to continue, but warn of potential volatility.

Most Asian stocks fell on Tuesday as investors awaited more information on central bank interest rate hikes. The US dollar and oil remained steady. The MSCI Asia-Pacific index was down 0.1%, Japan's Nikkei share average fell 1.1%, and China's mainland benchmark and Hong Kong's Hang Seng Index both declined by 0.2%. Wall Street stocks and Treasury yields were slightly up on Monday's shortened session. Economic data and uncertainty about the Federal Reserve's policy path are being closely monitored.

Indian benchmark indices, Sensex and Nifty, started the week strong, with Sensex crossing 65,000 for the first time and Nifty reaching a record high of 19,322. RIL rose 2.4%, BSE gained 9.77%, and Bandhan Bank fell 2.8%. Technical and derivatives analyst Riches Vanara recommends buying RIL for targets of 2750 and 2850, BSE for levels of 695 and 725, and selling Bandhan Bank for targets of 225 and 215.

In the NSE list of stocks, six stocks with a market cap of over Rs 250 crore are witnessing Golden Crossovers, according to stockedge.com's technical scan data. Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside. These stocks' 50-day simple moving averages (SMA) crossed their 200-day SMAs on July 3.

In the Nifty200 pack, we have collated a list of seven stocks that witnessed a 5-year swing high at the close on July 3, suggesting bullishness in counters, according to stockedge.com's technical scan data. Take a look.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.

In the Nifty500 pack, 10 stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on July 3, 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. Take a look:

The world's 500 richest people collectively saw their fortunes grow by $852 billion in the first half of 2023, with each member of the Bloomberg Billionaires Index making an average of $14 million per day. This was the strongest six-month period for billionaires since the latter half of 2020. The gains were driven by a stock market rally, despite concerns about central bank interest rates, the conflict in Ukraine, and regional bank crises. Elon Musk and Mark Zuckerberg saw significant increases in their net worth, but Gautam Adani suffered the biggest loss, dropping $60.2 billion.

Wall Street's main indexes closed with slight gains in a shortened session, boosted by Tesla's surge and strong performances from bank shares. Tesla's shares rose 6.9% after the company announced record vehicle deliveries in Q2. Major banks also saw gains as they raised dividends following the Federal Reserve's health check. However, trading volumes were lower than average ahead of the July 4th holiday, indicating cautious market sentiment. The Dow Jones Industrial Average rose 0.03%, the S&P 500 gained 0.12%, and the Nasdaq Composite added 0.21%. The U.S. Treasury yield curve also signaled concern about the economy as it reached its deepest inversion since 1981.

Tube Investments arm TI Clean Mobility has entered into an agreement with Anand Jayachandran for pursuing electric small commercial vehicle business through a subsidiary to be incorporated by TI Clean Mobility.

Option data suggests a broader trading range in between 19000 to 19600 zones while an immediate trading range in between 19100 to 19500 zones, Taparia said.

The portfolio included six real estate accounts sold for ₹1,075 crore, equating to a 60% recovery for L&T Finance, the people said. The finance company invited offers under a 15:85 structure for ten accounts with a total loan of ₹3,022.5 crore, according to a notice issued by the finance company on its website early last month.

On the candlestick screener, a bullish reversal pattern helps identify stocks that can see an uptrend from the current downward zone. Here are 4 stocks with m-cap over Rs 10,000 crore that have established a Bullish Harami Cross pattern and hint at a bullish reversal in the future. (Source: StockEdge)

Under this arrangement, trades will be routed to NSE International Exchange (NSE IX) GIFT City from the SGX for trading and execution. This is a big step forward in GIFT City's journey to emerge as a leading international financial service centre and will significantly increase trading volumes and liquidity in GIFT, attracting more investors, traders, and market intermediaries.

The Sensex topped 65,300.35 on Monday, surpassing the previous high of 64,768.58 last Friday. The index closed at 65,205.05, up 486.49 points or 0.75% from the previous close.

The Sebi action came after ELP represented Subhash Chandra and Punit Goenka, founder-promoters of Zee Entertainment (ZEE) in the securities appellate tribunal (SAT). The Zee founders had challenged Sebi's June 12 interim order that restrained them from holding directorships or key managerial positions in listed entities on account of alleged diversion of funds.

Bearish reversal scan on the candlestick screener can help in ascertaining stocks where stocks show a tendency of shifting to downtrend from an upward zone. So, here are stocks with m-cap over Rs over Rs 1,000 crore that have established bearish engulfing patterns and signify bearish reversal. (Source: StockEdge)

The non-banking finance company had called for bids under a cash-security receipt structure, based on an existing offer. Omkara Asset Reconstruction Company provided a binding offer, setting the reserve price for the auction.

HDFC Bank shares hit a lifetime high of ₹1,757.50 before closing more than 1% higher at ₹1,721.00. The merger of HDFC and HDFC Bank was announced in early April last year, and shares of the two lenders have risen 14-17% since then, including Monday's gains.

​​That compares with an 11% gain in the Nifty 50 index. The tech-heavy Nasdaq has rallied 15% in this period, while the NYSE FANG+ surged 26%. The ET Ecommerce NonProfi table index, comprising stocks that are yet to make money, gained 30% in three months and outperformed the ‘Profi table’ index which climbed just about 16%.

After a phase of consolidation, some stocks are witnessing breakout with higher volume giving bullish buy signals.

While the Singapore International Arbitration award had directed P&W to dispatch around 20 engines by December 2023, the engine maker had subsequently challenged it citing payment failure by the airline and the ongoing global supply chain shortage. In its petition which was reviewed by ET, P&W has claimed that the airline owes it over $100 million.

The finance ministry has proposed a substantial increase in penalty and punishment to the ministry of electronics and information technology (Meity) for inclusion in the proposed Data Protection Bill, likely to be introduced in the monsoon session of Parliament.

As a result of the proposed merger, the standalone book value per share of the bank would increase by 4.9%, as calculated on audited financials as of March 31, 2023.

The stock reached a new record high of Rs 3,067 on June 30. Analysts suggest that short-term traders should consider buying the stock on minor dips, with a possible target of Rs 3,100 in 2-3 weeks. The stock's positive performance is supported by trading well above crucial moving averages and bullish indicators such as the MACD.

Singapore Exchange (SGX) has shifted all open positions to Gift City, as SGX Nifty fully settles a five-year feud between NSE and Singapore Exchange. Nithin Kamath, CEO of Zerodha, believes this shift will help GIFT City become an international financial centre and attract more capital. Kamath also pitches for relaxations in the cumbersome NRI account opening process to further popularize GIFT City. V Balasubramaniam, CEO of NSE IX, expects the liquidity pool to grow as all Singapore orders will be routed into their platform, while local brokers from IFSC can also trade.

Saudi Arabia and Russia have announced that they will extend cuts to their oil production in order to support prices. The Saudi Energy Ministry will maintain its output at 9 million barrels per day, while Russia will reduce production by an additional 500,000 barrels a day in August. These voluntary cuts are in addition to earlier reductions agreed to by the OPEC oil cartel and allied producers. Despite the cuts, oil prices have not seen a significant increase, which has provided relief for consumers. The uncertain outlook for fuel demand amid economic weakness and travel restrictions remains a concern for oil producers.

Equity benchmarks Sensex and Nifty soared to fresh closing record highs for the third successive session on Monday, with the 30-share index crossing the historic 65,000 mark on strong foreign fund flows and a rally in global equities. Hectic buying in index majors Reliance Industries, ITC and HDFC twins also added to the momentum, traders said.Better economic data in the domestic market helped Nifty top 19,300 levels, while Sensex ended at 65,200 levels. “On the daily charts we can observe that the Nifty has witnessed a perpendicular rally in the last five trading sessions. It has rallied around 675 points without a meaningful pullback. The hourly momentum indicator has triggered a negative crossover, which indicates loss of momentum. However, we shall await evidence on the price front to forecast a consolidation. A break of today’s low (19,234) shall be the first signs to look for a consolidation to set in and until then the strategy to trade would be to hold on to the long positions with a trailing stop loss mechanism.Overall, the uptrend is intact, and we expect levels of 19,500. In terms of levels, 19230– 19200 shall act as a crucial support zone while 19380 – 19400 shall act as a crucial resistance zone,” Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas, said.Here are stock recommendations for Tuesday:

He has vast experience of about 25 years in planning, design and execution of various railway projects as well as maintenance and operation of major infrastructure and an expert in matters related to establishment, budget, tenders and contract management etc.

Under the proposed merger, shareholders of IDFC Ltd will get 155 shares of IDFC First Bank for every 100 shares held in the former.

On its first trading day, the rebranded GIFT Nifty recorded over $9 billion in open interest and $1.13 billion in turnover on the NSE International Exchange. The NSE IX-SGX GIFT Connect aims to create a bigger liquidity pool and more Nifty products for investors by unifying international and domestic participants. The benchmark Nifty 50 also benefited from the positive trading, surpassing the 19,300-mark for the first time. GIFT Nifty contracts are available for trading for approximately 21 hours, overlapping with trading hours in Asia, Europe, and the US. The integration of GIFT City with international financial markets will provide easier access for international investors.