Adani Group has denied knowledge of the US Securities and Exchange Commission subpoenaing its investors over representations made by the company to them following allegations by Hindenburg Research that offshore companies were used to manipulate share prices. The group added that its disclosures were public record, and that regulators frequently sought access to such material

US technology and megacap stocks led declines on Monday, resulting in U.S. stocks edging lower as investors worry about the impact of further interest rate hikes on the economy. Growth stocks, particularly Meta Platforms, Alphabet, and Tesla fell between 2.7% and 4.9%. In contrast, the S&P 500 energy sector gained 1.8% as oil prices rose. Economic data, including a key inflation gauge, durable goods, and the University of Michigan's consumer sentiment index, are expected this week. Most policymakers see at least two more quarter-point rate increases by the end of this year.

Small Cap World Fund sold 7.7 lakh shares, or almost 1%, at an average price of Rs 1,437, making a gain of Rs 110 crore. The venture capital firm held approximately 8% stake in the company at the end of the March quarter. Aavas Financiers, predominantly a publicly owned company with 60.8% stake, offers housing loans to customers in semi-urban and rural areas.

Passive funds, designed to track the Nifty indices, contribute to the success of the passive funds sector, which has now achieved a total of Rs 7 lakh crore AUM, as of May. Growth in this sector has come from the failure of large-cap active funds to provide big returns.

Benchmark equity indices Sensex and Nifty closed on a mixed note in a volatile trade on Monday amid weak trends in the global markets. While auto, IT and pharma shares advanced in a restricted trade, selling in index heavyweight Reliance Industries, HDFC twins and Tata Consultancy Services capped the gains.In a lacklustre trading, the 30-share BSE Sensex dipped 9.37 points to settle at 62,970, logging its third day of decline. Nifty managed to end in the green at 18,691. Meanwhile, broader markets emerged strong and posted recovery.From the Nifty pack, top gainers included Cipla, Adani Enterprises, Hero Motocorp, Tata Consumer Products and Divis Labs.“The headline index Nifty has remained sideways during the session. On the lower end, it found support at the 21EMA on the daily timeframe. The trend remains complex as long as it stays within the bands of 18,500-18,800. A decisive breakout on either side might trigger a directional move. Till then we expect a market where the dips would be bought and rises would be sold into,” said Rupak De, Senior Technical analyst at LKP Securities.Here are the stock recommendations for Tuesday:

The Reserve Bank of India (RBI) has imposed penalties on several entities for failing to comply with regulatory norms. Standard Chartered Bank-India was fined Rs 30 lakh for contravening certain provisions of the RBI's KYC Directions. Equifax Credit Information Services, Experian Credit Information Company of India, TransUnion CIBIL, and CRIF High Mark Credit Information Services were also fined for non-compliance with Credit Information Companies Act regulations. Other banks and co-operative lenders were also penalised for similar reasons. RBI noted that the penalties were not intended to judge the validity of any transaction or agreement involving the entities.

The private sector lender said that shareholders' nod would be sought in the annual general meeting for the capital raise plan.

The meeting came a day after the country passed a heavily adjusted annual budget in hopes of securing a last gasp bailout from an International Monetary Fund programme that expires on June 30.

The meeting came a day after the country passed a revised annual budget in hopes of securing a last gasp bailout from an International Monetary Fund programme that expires on June 30.

Investors fear the Federal Reserve's aggressive monetary tightening will hurt the U.S. economy

On Monday, Indian markets closed mixed after early gains. The S&P BSE Sensex was flat with a negative direction, while the Nifty50 index rose marginally. Notable stocks included ICICI Securities, which rose by 10%, as well as Natco Pharma, up nearly 3%, and SJVN, up 6.5% to reach a fresh 52-week high

India's Securities and Exchange Board has introduced disclosure formats for compliance reports on governance and annual secretarial for REITs and InvITs for the financial year 2023-24 onwards. Investment managers of InvITs and REITs will have to disclose essential details including the name of investment managers, the board of directors' composition, meeting details of committees and the board of directors on a quarterly basis. Investment managers of these investment vehicles will have to submit the annual secretarial compliance report in a new format to the stock exchanges within 60 days from the end of each fiscal year.

India's Securities and Exchange Board introduced a supplementary process for trading in the secondary market based on blocked funds in an investor's bank account to block unauthorised trading using investor's money. Similar to the Application Supported by Blocked Amount-like facility available for the primary market, the new facility will be provided by integrating Reserve Bank of India-approved Unified Payments Interface mandate service of a single-block-and-multiple-debits with the secondary market trading and settlement process called UPI block facility. The new facility will become effective by January 1, 2024, and will eliminate the custody risk of client collateral and reduce capital requirements for members.

Despite a lacklustre trade that caused minor losses, some large-cap stocks drove the performance of S&P BSE Sensex resulting in a notable market advancement. ICICI Bank, Maruti, Infosys, Tata Motors, and Titan emerged as the top five gainers for June 26 with significant contributions to the market's upward movement. Investors can analyze their financial performance, market share, growth potential, and other relevant factors to make informed investment decisions. However, thorough research, analyzing financials, and staying updated on market trends are essential before investing.

The BSE Bankex Index had a mix of advancements and declines among its constituent bank stocks. ICICI Bank, SBI, IndusInd Bank, Axis Bank, and AU Small Finance Bank were the leading contributors to the index's modest gains, while Federal Bank, Canara Bank, Bank of Baroda, Kotak Mahindra Bank, and HDFC Bank led to its decline. Investors are advised to thoroughly research the financials and stay up-to-date on market trends before making any investment decisions.

India's VIX rose slightly but stayed at lower levels, resulting in a choppy market with little movement. Options data indicates a narrower trading range with a shift between zones of 18,500 to 19,000. Analysts have said that until there is a decisive breakout on either 18,500-18,800 band, trends will remain complex. A minor upside bounce can be expected, but weakness under the crucial support of 18,650 levels will bring the next round of weakness in the market. Immediate resistance is at 18,760 levels.

The S&P BSE Sensex witnessed a minor loss of 0.01% on Monday, primarily caused by the underperformance of Reliance Industries, HDFC Bank, TCS, Larsen & Toubro, and Bharti Airtel. These companies contributed significantly to the decline in the market. Investors may delve into their financial performance

Several BSE Smallcap stocks reached their 52-week high and generated market excitement. AstraZeneca Pharma, Apar Industries, Force Motors, Angel One, Venus Pipes & Tubes, Surya Roshni, Talbros Automotive, and Landmark Cars were among eight prominent stocks that led this bullish trend.

IDFC First Bank and Apollo Tyres are among the Nifty Midcap100 stocks which have demonstrated a strong recovery from their 52-week lows, attracting investor attention. IDFC First Bank saw its price increase by 157.36% from its 52-week low of Rs 29.9, while Apollo Tyres witnessed an increase of 123.18% from its 52-week low of Rs 179.9

Several stocks in the Nifty Smallcap 100 index have shown an impressive recovery from their 52-week lows, with standout performers including Mazagon Dock Shipbuilders and Jindal Stainless. Mazagon Dock Shipbuilders witnessed a remarkable increase of 429.49%, while Jindal Stainless marked an increase of 233.11%. Other notable recoveries include KEI Industries, Raymond, Cyient, Tanla Platforms, KPIT Technologies, and RBL Bank, demonstrating effective management strategies, resilience, and capacity to navigate market challenges and capitalize on growth opportunities. These recoveries highlight the potential for growth and market resilience within the Nifty Smallcap 100 index.

Passive funds have witnessed a consistent rise in popularity, with total assets under management (AUM) of all exchange-traded funds and index funds that track the Nifty 50 indices crossing the Rs 7 lakh crore mark in May-end. As of May 31, 2023, there were 251 passive funds tracking 101 unique Nifty indices. Nifty indices-linked passive funds account for around 72% of total equity and debt passive funds AUM and 75% of the total number of passive funds in India. The AUM of passive funds surged to Rs 7.17 lakh crore as of May 31, 2023.

Closing Bell: Sensex ends flat after rangebound trade; Nifty below 18,700; Sun Pharma soars 9%, Apollo Tyres drops 3%.

Private equity dealmaking has declined to four-year lows as firms contend with high interest rates and recession scares. According to Dealogic, private equity deal volumes have fallen 63% from last year to $293.5bn. Private equity investors are increasingly shunning businesses with unpredictable cash flows and pursuing fewer deals, amid rising borrowing costs and the interminable trade conflict. The difficult market for initial public offerings has also contributed to the slowdown, making it harder for private equity firms to exit investments. However, some believe that the industry could soon rebound thanks to a backlog of stored-up funding.

The legacy of Michael Milken and his junk bonds continues to persist with today's US junk loan market standing at $1.4tn. The HYB market is currently experiencing a high default rate at 6%, coinciding with a surge of the Indian equity market with over 30% of listed companies experiencing gains of over 30% in just three months. Central bank's synchronised interest rate hikes can lead to the uncovering of hidden excesses, just as it did when interest rates reached 5% in 2005 before the Global Financial Crisis emerged. As investors, it is essential to remain aware of potential risks during market cycles.

ICICI Securities shares closed over 10% higher as Board of Directors of ICICI Bank mulls delisting of its institutional and retail broking arm.

The Insurance Regulatory Authority of India has given insurers permission to launch group and individual unit-linked life and health insurance products without prior approval. While general insurance has been flourishing in India, the growth of life insurance moderated in April and May 2023 after a surge in March, just prior to regulatory changes. SBI Life is targeting a 20% CAGR in APE over FY23-2025; ICICI Lombard is expecting growth in the motor segment, health segment profitability improvements and benefits from the Bharti AXA merger to help improve the combined ratio and ROE.

The current market offers investment opportunities among Nifty 500 companies that are trading at a discount of 30% or more from their 52-week highs. The top 10 companies include Indian Overseas Bank, JK Paper Ltd., Jindal Worldwide Ltd., Laurus Labs Ltd., Laxmi Organic Industries Ltd., MMTC Ltd., Mahindra Logistics Ltd., Meghmani Finechem Ltd., PVR INOX Ltd., and Page Industries Ltd. Investors need to analyze these companies' financial performance, industry trends, and growth prospects before deciding to invest. It is advisable to carry out thorough research and seek professional advice to minimize risks and maximize returns.

RSI or the relative strength index computes the ratio of the recent upward traction in the stock price movement relative to its absolute price movement. The RSI value ranges between 0 and 100. Herein the StockEdge data takes into consideration a period of 14 days to compute RSI. It is a bullish signal as the RSI has crossed above 50 from below.

RattanIndia Power’s shares jumped 19% on Monday as the company announced that it has refinanced its senior debt with a Rs 1,114 crore loan led by Kotak Mahindra Bank. The power generation company has fully repaid the balance of senior debt to Goldman Sachs and Varde Partners. The trading of the company's shares involved large volumes as over 15.13 crore shares traded on the NSE with an intraday high of Rs 5.60. The company has private power generation capacity of 2,700 MW installed power plants.

These four metal stocks give bearish signals, indicating that may be time to sell the counters as the MACD drops below the signal line. Take a look: (Source: StockEdge)

Experts suggest that Housing Development Finance Corporation (HDFC) could see a bullish momentum, with a possible target of Rs 2,820 in the next 3-4 weeks. After hitting a 52-week high of Rs 2,867, the stock found support above the 200-EMA and reclaimed the 50-EMA last week. It also broke out from a falling wedge pattern on the daily charts, suggesting bullish momentum. In terms of price action, the stock is trading above most short and long-term moving averages. Experts recommend buying the stock on marginal dips, keeping the stop loss below Rs 2,640 levels.

Beta is a measure of volatility and signifies the sensitivity of the stock in comparison to the overall market or the broader index. Market beta is always 1, and in a case, if it is higher, say for a stock, if the beta value is 1.4 compared to the index, then it is inferred to be 40% more volatile than the index.Usually, high-beta stocks are rewarding in terms of return. Nonetheless, when it comes to returns, the industry’s, as well as the stock-specific fundamentals, also play a major part.

HDFC Life Insurance shares have underperformed the Indian Nifty50, with returns of just over 12% in the past year compared with the benchmark's 20% returns during the same period. Despite three consecutive sessions of corrections, analysts say the stock remains in an overbought zone, with momentum indicators suggesting investors should accumulate it on any declines. Rajesh Palviya, senior VP of technical and derivatives research at Axis Securities, believes the short to medium-term outlook is still bullish. "Any short-term corrections towards the support zone remain an accumulation opportunity for traders and investors,” he said.

The Nifty index has gained approximately 3% so far this year. However, several Mutual Fund schemes have experienced a surge of over 15% in the first half of the current calendar year (1HCY23). In today's Mutual Fund Analysis, ETMarkets identified the top six equity mutual fund schemes that meet the given criteria. Furthermore, we have conducted an in-depth analysis and highlighted the top five performing stocks of each scheme in 2023 thus far. It is noteworthy that ETFs have been excluded from our analysis. (Dat Source: ACE MF, ACE Equity)

While interest rate cycles impact every sector, some sectors are relatively less impacted by rising interest rates. One of the biggest advantages of a service sector company is that they work on an asset light model which brings them in that category.

PB Fintech's shares surged by as much as 7% to reach a fresh 52-week high due to the business growth plans revealed in its first virtual meeting with analysts. The company, which owns Policybazaar platform, plans to fill gaps in the market by using data and technology, giving it an edge in addressing India's underpenetrated market. Product innovation is expected to drive its faster-than-industry growth. Kotak Institutional Equities has maintained its positive stance with a 'buy' rating and a fair value of INR725.

Jefferies has initiated coverage on 16 stocks as 'Buys', all of which are in the small and midcap space. The brokerage firm believes that there is a higher share of domestic economy stocks in the SMID space and that SMIDs will continue to outperform large-cap stocks going forward. There is a dearth of medium-cap investment ideas and only 3 Nifty-50 components account for 5% of the market cap belonging to the industrial and realty group in the large-cap section. Conversely, 18-20% of the SMID market cap is made up of industrial and realty companies.

The wide expectation was that when delisting was announced for ICICI Securities, the shareholders of ICICI securities will get cash in lieu of the shares they are holding, but what we found out through our sources was that delisting will not result in cash for shareholders of ICICI Securities, in fact, the shareholders will get ICICI Bank shares and the swap ratio will be announced after the board meeting which is going to be held on June 29.

Several BSE Midcap stocks achieved their 52-week high, including PB Fintech and ICICI Securities. Aurobindo Pharma showcased impressive performance with its consistent growth. PB Fintech's remarkable achievement and SJVN's success reflect the positive market outlook for midcap stocks.

Despite weak performance in FY23, Indian oil and gas firms are expected to see revenue and margin growth in FY24 due to lower energy costs and a growing domestic consumer market, according to brokerage firms including Anand Rathi, Nuvama and Nirmal Bang. Firms such as GAIL, Gujarat Gas and Bharat Petroleum Corporation are among top picks. OMCs such as BPCL and IOCL also have strong dividend profiles and counter-cyclical prices, said Nuvama. However, fuel price reductions could pose a risk to earnings, as overall issues with crude prices continue to impact the sector.

Dr Reddy's Laboratories, HCL Technologies, and Aurobindo Pharma have achieved 52-week highs and solidified their positions as market leaders. Dr Reddy's Laboratories has a market capitalization of Rs 84,254.00 crore and a P/E ratio of 18.7, while HCL Technologies has a market capitalization of Rs 317,037.50 crore and a P/E ratio of 21.3. Aurobindo Pharma has a market capitalization of Rs 42,213.90 crore and a P/E ratio of 21.9, highlighting their growth potential and investor appeal. Their successes serve as a reminder of the growth potential within the BSE 100 index.

Explore the BSE-listed companies that hit their 52-week lows on Monday, as 37 stocks recorded downward trends. Gain valuable insights into the overall market performance, with advancing and declining stocks, and discover key information about these companies. This informative article aims to assist potential investors in their decision-making process by providing interactive and informative content.

The much-awaited merger of HDFC Bank and HDFC is expected to be completed next month. Market experts predict that the announcement of the merger date will trigger further buying interest and lead to both stocks hitting record high levels. While HDFC twins have underperformed the Nifty in the last one-month period, both are trading 5% away from their respective 52-week high levels and are up 5-6% each in the last 3 months. The merged entity is likely to trade under the HDFC Bank ticker before July 20. An eligible shareholder will get 42 shares of HDFC Bank for every 25 HDFC shares held by them.

While interest rate cycles impact every sector, some sectors are relatively less impacted by rising interest rates. One of the biggest advantages of a service sector company is that they work on an asset light model which brings them in that category.

As broader market indices witness minor consolidation, which normally happens when they are close to all time high as some resistance is bound to come. Some stocks have witnessed consistent improvement in their scores. The selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.

Tata Consumer Products' shares rose 3% to Rs 866.2 on Monday, following Citi's initiation of a "Buy" call on the stock with a target price of Rs 1,020. The global investment bank anticipates a consolidated revenue/EBITDA/EPS CAGR of 12%/17%/22% over FY23-26 due to the company’s improved financial metrics and brand strength. In Q4 FY23, the firm reported a net profit of Rs 268 crore, a 23% increase from last year. Its revenue from operations for Q4 also grew 14% YoY to Rs 3,619 crore.

Shares of Shree Cements fell over 10% to Rs 22,601 after reports suggested that the company has avoided taxes worth INR 23,000 crore. The Income Tax department launched an investigation at five locations including Beawar, Jaipur, Chittorgarh and Ajmer. In its response, the company said that all management personnel were cooperating with officials to clarify the situation and that reports in the media to the contrary were incorrect. Cement sales have increased 10% to 8.83 million tonnes in Q4 FY23 compared to the same period last year.

The much-awaited merger of HDFC Bank and HDFC is expected to be completed next month. Market experts predict that the announcement of the merger date will trigger further buying interest and lead to both stocks hitting record high levels. While HDFC twins have underperformed the Nifty in the last one-month period, both are trading 5% away from their respective 52-week high levels and are up 5-6% each in the last 3 months. The merged entity is likely to trade under the HDFC Bank ticker before July 20. An eligible shareholder will get 42 shares of HDFC Bank for every 25 HDFC shares held by them.

Shares of Shree Cements fell over 10% to Rs 22,601 after reports suggested that the company has avoided taxes worth INR 23,000 crore. The Income Tax department launched an investigation at five locations including Beawar, Jaipur, Chittorgarh and Ajmer. In its response, the company said that all management personnel were cooperating with officials to clarify the situation and that reports in the media to the contrary were incorrect. Cement sales have increased 10% to 8.83 million tonnes in Q4 FY23 compared to the same period last year.

ICICI Securities shares rose 15% on Monday as news emerged of ICICI Bank, its parent company, considering delisting it. ICICI Bank said its board of directors would consider the proposal on June 29th in accordance with Sebi (Delisting) regulations. The bank holds a 74.85% stake in ICICI Securities.