The stock price of this company has been drifting lower since making a lower high at the Rs 1,620 level in February. Recently it has formed a U-shaped bottom in April and followed it up with a higher low in May, which confirms the reversal in trend and suggests a buying opportunity on sustenance above the Rs 1,280 level, which is the high between the two lows. The recent candle formed resembles a bullish Marubozu candlestick.

Three stocks have been banned for trade under Future & Options on Tuesday, May 23, due to crossing the 95% open interest on these stocks. The three stocks include Indiabulls Housing Finance, Manappuram Finance and L&T Finance Holdings (L&TFH). The Future & Options contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%.

Ashok Leyland's Q4 net sales are expected to increase by 35% YoY to Rs 11,786 crore, with net profit likely to decline 10% to Rs 807 crore. NMDC's Q4 revenue is expected to be in the range of Rs 5,789 crore, down 14% YoY, but profit is likely to jump 75% QoQ. Biocon's Q4 net sales are expected to rise 51%, with net profit likely to fall 58% to Rs 100 crore due to last year's quarter's high base. Biocon's biologics sales are predicted to double YoY to Rs 1900 crore.

In the Nifty200 pack, nine stocks' prices crossed above their 200 DMAs (Daily Moving Averages) on May 22, 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:

On the candlestick screener, a bearish reversal pattern helps identify stocks that can convert into a downward trend from the current uptrend. So, here are 3 major stocks that have established a Three Identical Cows pattern and signify bearish reversal. (Source: StockEdge)

Bulls are driving the domestic equity markets amid firm global cues and positive signals from India Inc's earnings. Select stocks are likely to deliver strong returns in the near term amid this backdrop, believe chart readers. Based on their recommendations, here are 9 stocks where one can ride the momentum:

The markets on Monday remained steadfast in the positive territory, with the Nifty ending the day with more than half a percent rise. The action in the markets, though, was largely in stock-specific areas.

On the candlestick screener, a bullish reversal pattern helps identify stocks that can move into an uptrend from a downward zone in the future. So, here are 4 major stocks that have established a hammer pattern and signify a bullish reversal. (Source: StockEdge)

With just weeks to go before the country runs out of cash, the standoff has become the key topic on trading floors on fears that a US failure to pay its bills will send shockwaves through markets and the global economy.

The Futures Short Position Scan today revealed Aggressive New Short positions on the counters of 4 large-cap stocks. This is a bearish indicator as it signifies that the futures OI has increased while price has decreased. (Source: StockEdge)

In the NSE list of stocks, five stocks with a market cap of over Rs 1000 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 May 22.

Wall Street closed mixed on Monday, with the S&P 500 almost flat as investors refrained from making big bets ahead of a fresh round of talks on raising the US debt ceiling. The Nasdaq was boosted by gains in Alphabet and Meta Platforms, while the Dow Jones lost 0.42%. Investors are optimistic there's at least a 60:40 likelihood that an agreement will be reached in time in relation to raising the federal debt ceiling and concerns about a default are beginning to ease.

Refining major BPCL Ltd posted 168% growth in its consolidated net profit at Rs 6,780 crore for the three months ended March. Revenue from operations during the reporting quarter rose 8% to Rs 1.33 lakh crore.

Analysts believe Zomato's stock can deliver up to 51% returns from the current levels despite lingering concerns over a second straight quarterly decline in food delivery volume at the Gurugram-based food-tech firm.

Adani Enterprises - the group's flagship firm - soared 18.8%, Adani Wilmar jumped 10% and Adani Ports advanced 6% on Monday. Ambuja Cements, Adani Power, Adani Transmission, Adani Green, Adani Total Gas, ACC and NDTV surged 5% each.

The three directors include Habil Khorakiwala, Murtaza Khorakiwala and Huzaifa Khorakiwala. The case relates to Sebi's investigation into the trading activity in Wockhardt shares for the period January 7, 2012, to August 7, 2013.

The bank's retail loan book is currently about ₹10,000 crore, which is roughly about 20% of the bank's total advances of ₹50,000 crore. Almost half of retail is gold loans, followed by mortgages (20%) and unsecured (10%). The corporate loan book is about ₹35,000 crore while loans to SMEs are about ₹5,000 crore.

Auto sector inflow accounted for 21% of the total FPI inflow of $5.4 billion from the beginning of the current fiscal year. This is the second-biggest inflow to a sector after financial services in the same period, which received one-third of the total inflows.

In the notes accompanying the company's annual results, Delhi-based auditors Lodha & Co said the company has received four show cause notices (SCNs) from the RoC and also one from Sebi in the quarter ended March on corporate governance issues raised by independent directors who resigned on January 19, 2022, and December 2, 2022.

Currently the largest steelmaker in India with a production capacity of 27 million tonnes, JSW Steel is in the process of adding another 10 MT of production capacity by the end of FY25, which includes brownfield expansion at the Vijayanagar facility and Bhushan Power.

The stock has soared 35% this year, adding nearly $690 billion in market value, as investors have flocked to the iPhone maker's steady revenue and massive cash flows. The advance has put Apple within striking distance of its January 2022 record.

Das met the board of directors of all public sector banks in New Delhi to discuss issues related to leadership and governance, and drive growth and sustainability. In a statement, the RBI said the governor acknowledged the role played by the banks in supporting the economy and maintaining resilience along with improved financial performance in the face of several adverse shocks in recent times.

A higher-than-budgeted surplus transfer by the RBI to the government, and the central bank's move to withdraw ₹2,000 notes from circulation have substantially altered the liquidity landscape for the banking system. Both announcements, made one after the other by the RBI on Friday evening, will result in an improvement in banking system liquidity, albeit in different ways.

The Reserve Bank of India (RBI) has said that banks should follow existing guidelines, leaving them to decide their own strategies while accepting ₹2,000 notes for exchange.

The stock price of civil construction company Engineers India (EIL) rose by 30% in a month to reach a 52-week high in May. However, analysts predict the rally may continue as the stock price gave a breakout from the Ascending Triangle pattern on weekly charts, with strong volumes supporting its bullish trend.

Wall Street is experiencing small gains and losses as a deadline looms for a deal to avoid a possible federal default. Futures for Dow and S&P rose less than 0.1%, while Federal Reserve Chair Jerome Powell hinted that interest rates may remain stable at the next meeting in June.

Benchmark equity indices in India rose for the second consecutive session, driven by strong performances from index heavyweight Reliance Industries and IT stocks. The 30-share BSE Sensex rose 234 points to settle at 61,963.68, while the Nifty surpassed the 18,300 level. Despite strong market gains, caution is advised around the important retracement resistance zone. Experts recommend buying Maruti Suzuki Futures and Infosys Futures, due to bullish indications and patterns on daily and 4-hourly time frames.

The dividend will be 1850% on the face value of Rs 1 per share and amounts to Rs 6,877 crore

"Engineers India stock has been in a strong consolidation for the last three years. It gave a breakout from a 3-year Ascending Triangle pattern on weekly Heikin Ashi charts," Gaurav Bissa, VP, InCred Equities, said.

JPMorgan Chase expects to see its net interest income rise by $3bn after acquiring First Republic Bank, which was closed by regulators earlier this year. The bank now predicts its net interest income will increase to $84bn by 2023, up from a previous estimate of $81bn. The acquisition will also add $3.5 billion in integration costs to its expenses this year. JP Morgan is optimistic but warned of sources of uncertainty and challenges resulting from rising interest rates, inflation and the erosion of savings buffers by consumers. It also plans to modestly increase its number of branches.

On Monday, the Sensex wrapped up with a positive outcome, registering a 234-point increase and reaching the 61,963 level. As a result, six stocks within the BSE commodities index achieved fresh 52-week highs, a noteworthy technical signal for a multitude of traders and investors. This indicator holds a crucial role in evaluating a stock's present worth and forecasting its future price variations, representing the highest price at which the stock has been traded during the preceding year.

Benchmark equity indices in India rose for the second consecutive session, driven by strong performances from index heavyweight Reliance Industries and IT stocks. The 30-share BSE Sensex rose 234 points to settle at 61,963.68, while the Nifty surpassed the 18,300 level. Despite strong market gains, caution is advised around the important retracement resistance zone. Experts recommend buying Maruti Suzuki Futures and Infosys Futures, due to bullish indications and patterns on daily and 4-hourly time frames.

Morgan Stanley Investment Funds Emerging Markets Equity Fund has sold a 0.58% stake in Gland Pharma via open market transactions. The sell-off consisted of 9.6 lakh shares at a weighted average price of INR9,306.69 ($124.51). Majority promoter-owned Gland Pharma is injectables-focused and operates a business to business model. It manufacturers a range of injections, including vials, ampoules, pre-filled syringes, lyophilised vials, oncology and ophthalmic solutions. The company reported a 56% decline in Q4 profit in May 2021, dragged down by weak domestic and international sales.

ET Markets has utilized its Technical Screener to identify 7 stocks that exhibit a Bullish MACD crossover. A bullish MACD crossover is a technical signal that suggests a potential upward trend reversal in a security's price. It occurs when the shorter-term moving average (MACD line) rises above the longer-term moving average (signal line). Traders interpret this as a bullish sign, indicating a shift in momentum from bearish to bullish. However, it's important to use the MACD in addition with other indicators and factors for a comprehensive analysis. Consulting a financial professional and conducting thorough research are always recommended before making investment decisions.

Wall Street is experiencing small gains and losses as a deadline looms for a deal to avoid a possible federal default. Futures for Dow and S&P rose less than 0.1%, while Federal Reserve Chair Jerome Powell hinted that interest rates may remain stable at the next meeting in June.

ET Markets, in its current Mutual Fund analysis, has pinpointed fstocks that experienced MF exits in April '23 compared to the previous month. Curiously, all of these stocks have exhibited significant share price growth in recent times, specifically in FY24 so far. Within a span of less than two months, these stocks have gained anywhere between 16% and 76%. (Data Source: ACE MF, ACE Equity)

Indian equity index formed a bullish trend as it successfully moved above its previous lower highs of the past four sessions. The index must not fall below 18281 zones for an upward trend towards 18400 and 18442 zones. On the downside, supports remain at 18181 and 18081 zones. The daily momentum indicator conveyed negative crossover, leading to a sell signal, hinting towards a possible consolidation in the market. The broader trading range is expected to be between 18,000 and 18,500 zones while an immediate range lies between 18,150 and 18,450 zones.

From the Sensex pack, Tech Mahindra, Wipro, TCS, Infosys, HCL Tech, L&T and Sun Pharma were the top gainers, while bank stocks including IndusInd Bank, HDFC Bank, ICICI Bank closed lower

India's power demand grew by 9%, surpassing GDP growth for the second time in three years, prompting interest from investors. However, the sector faces challenges, including distribution losses of over INR 900bn ($11.8bn) last year, with total outstanding loans close to INR 6tn. Numerous measures have been taken to address these issues but a permanent solution remains elusive. One potential solution is the privatization of distribution, which has worked in some regions. The Electricity (Amendment) Bill, 2022, offers promising solutions, but its implementation could be impacted by the debate over whether electricity should be a commodity subject to fair market pricing or considered an essential public service with low prices.

Closing Bell: Sensex rises for 2nd day, ends 234 pts higher, Nifty above 18,300; Suzlon Energy surges 10%, Siemens tanks 8%.

Shreyas Shipping and Logistics promoters have suggested delisting the company from exchanges to obtain full control over operations, reducing compliance costs and providing more time for business operations. Under this proposal, Shreyas Shipping's shares would be purchased from public shareholders through reverse book building. This move could enable an exit opportunity for shareholders at a premium from current market prices. The board meeting for this proposal is scheduled for May 24th. The company's undervaluation could allow promoting group Transworld Group to obtain the shares at a discount.

Balaji Amines’ stock fell by over 18%, hitting a 52-week low, following its Q4FY23 earnings report which showed a 56% YoY drop in net profit. The revenue from operations for the Jan-Mar quarter stood at Rs 471.39 crore, down nearly 40% YoY, resulting in the stock trading at a 50% discount from its 52-week high. The stock has given negative returns of over 29% in a 12-month period, underperforming the Nifty50’s 15% returns. The company’s FY23 PAT was Rs 405.68 crore, compared to Rs 417.90 crore in FY22.

Midcap stocks have outperformed largecap stocks since June last year, driven by faster earnings growth and a surge in return on equity, said Jefferies India. Midcaps' earning per share CAGR is forecasted to double that of Nifty50 from FY21-23 and is also estimated to be higher at 24% over FY23-25 than the 20% expected for Nifty50, according to Jefferies analyst Sonali Salgaonkar. Consequently, the analyst recommended selectively adopting a bottom-up investment approach. Jefferies has also shortlisted the top ten midcap ideas for investors to target specific stocks.

Gland Pharma shares reached a 52-week low of Rs 861 on May 24th, falling for the fifth consecutive day. The fall comes after the company reported a 56% decline in Q4 earnings on May 18th. Adding to its challenges, its EBITDA margin contracted to 21%, while revenue fell 29% YoY to INR7.85bn; weak sales in both the domestic and international markets contributed to the drop. The Hyderabad-based company, which relies on a B2B model, is also dealing with the production line shutdown in Hyderabad.

With billionaire Gautam Adani's flagship entity Adani Enterprises leading with a 17% rally from the front, Adani Group stocks were in high demand on Monday as investors found optimism in the Supreme Court-appointed expert committee's report that it cannot conclude any regulatory failure around the Adani Group- Hindenburg case. Is the worst over for the Adani Group companies? What is the road ahead? Sudip Bandyopadhyay of Inditrade Capital shares his opinion. Listen-in!!!

ET Markets analyzed smallcap stocks that have achieved a minimum of 20% growth in both sales and profits over the past four quarters of FY23 compared to the corresponding quarters of the previous years. Out of all the smallcap stocks, a total of 28 stocks have met this criterion. Interestingly, most of these stocks have delivered a double-digit return to investors in the past 1-year. We have specifically identified 10 stocks that have recorded a remarkable gain of over 80% in the last 1-year and five of them even turned multibaggers. (Data Source: ACE Equity)

European shares opened cautiously on Monday and Wall Street futures struggled as traders awaited news on U.S. debt ceiling negotiations prior to the impending June 1 deadline. President Joe Biden and House Speaker Kevin McCarthy will meet to discuss the debt ceiling. A failure to lift the debt ceiling would trigger a default and chaos in financial markets, adding to interest rates. HSBC's chief Asia economist, Frederic Neumann, believes the debt ceiling issues will be short-lived, despite risks of greater financial volatility. China's ban on Micron helped stocks of Micron rivals rise and are likely to benefit as companies seek memory products from other sources.

Logistics company Delhivery, which reported Q4 earnings in line with estimates, received positive ratings from top brokerages. Morgan Stanley is “Overweight,” Kotak Institutional Equities is “Buy,” while BofA is “Neutral” on the stock. January-March revenue fell 10% to Rs1,859 crore YoY, while net loss widened to Rs158 crore from Rs119 crore. Adjusted EBITDA turned positive at Rs6 crore compared to Q3FY23’s loss of Rs67 crore. While the companies’ senior levels saw some departures, Morgan Stanley sees continued momentum, Kotak highlights e-commerce logistics share and PTL contracts, and BofA expects margin improvement to continue.

Japan's Nikkei share average closed 0.9% higher at 31,086.82 on Monday, marking its eighth straight session of gains, amid investors' optimism for corporate initiatives to improve returns to investors. Non-life insurers, such as Tokio Marine Holdings, that announced a buyback of up to 1.5% of their own shares, led the gains, with the insurance sector gaining 2.35% and becoming among the Tokyo Stock Exchange's top gainer among its 33 industry sub-indexes. Meanwhile, Japanese chipmaker Renesas Electronics and drug maker Daiichi Sankyo fell by 1.93%.

The fortune of some companies is directly tied up with electrification across the country. In the last two decades, electrification and its availability for more hours has changed the fortunes of the electrical goods sector. From being single product companies, they have not only become multi product companies, but some of them also become multibaggers.