Select auto, BFSI companies to drive growth

The Sensex climbed by 144 points on Thursday, reaching the 59,832 level. This surge led to five stocks from the BSE healthcare index attaining new 52-week highs. This is a vital technical indicator for some traders and investors as it helps them assess a stock's current value and predict its future price movements. The 52-week high denotes the highest price at which a stock has traded during the previous year.

The New York Fed index points to ongoing improvements in the kinks that had once been a major driver of the highest levels of inflation seen in the U.S. in decades. Surging price pressures have driven the Fed to embark on a very aggressive campaign of raising its short-term rate target to bring inflation, which was 5% by a key measure in February, back to the central bank's 2% target

IIFL Finance, which had raised USD 400 million through its maiden dollar bond issue in February 2020, said the money will be used to pre-pay existing higher cost debt, which will help it save significantly on its borrowing costs.

Motilal Oswal expects Nifty earnings to grow by 14% year-on-year in the fourth quarter. The growth of BFSI and auto sectors could likely come in at 37% and 70% year-on-year, respectively, while metals continue to be a drag.

India's capital markets regulator, Sebi, has said listed public sector banks will require shareholder approval for any appointments or reappointments of directors made at the next general meeting. Sebi has said persons who don't have shareholder support will cease to be directors. The comments came after an informal guidance request from the Bank of Baroda. Despite the clarification, Sebi hinted that its views may differ case by case.

In the investing world, cyclical stocks are those whose fortunes swing as per the business cycle of an economy. Here's all you need to know about cyclical stocks.

A fine of Rs 55 lakh has been imposed on Indian Bank for contravention of certain Know Your Customer norms. Muthoot Money fined by Rs 10.50 lakh

This information should also be there in publications, Know Your Client (KYC) forms, client agreements, statements and in any other form of correspondence with the client.

In my view, increased global uncertainty, a stable currency in 2023, and the incomplete transmission of previous aggressive rate hikes likely prompted the MPC to take a brief pause in the rate hiking cycle.

Dow down 105 pts; 10-year treasury yield slips to 3.29% from 3.31% late Wednesday

The impact of rate cut was immediately seen in the bond yields, which softened across the tenures, Deepak Jasani, Head of Retail Research at HDFC Securities, pointed out. He, however, cautioned the investors against taking today’s rate pause action as a pivot.

Dow falls 61.76 points; S&P 500 opens lower by 9.23 points

The Adani Group firm has clocked a 55% growth in revenue for FY23 in the food and FMCG segment, led by a 40% growth in volumes

The Rs 900 crore-proceed raised from the QIP will be used to finance company's growth through acquisition and in the modernisation of our operations, enabling us to capitalise on opportunities in the fast-growing refractory market in the India and West Asia region, Sagar said in a company statement on Thursday.

Nifty is currently placed at the important resistance of previous opening downside gap of March 10 around 17,600 levels, said Nagaraj Shetti of HDFC Securities.

Crisil Ratings has revised its outlook on Jindal Stainless Ltd's long-term bank facilities and debt programme to 'AA' with a positive outlook, owing to the company's improved business risk profile, an expected increase in scale, and forward integration with capacity expansion and acquisitions. The rating agency took note of the company's efficient working capital management, healthy financial risk profile led by strong liquidity, leadership position in the domestic stainless steel industry, sizable export presence, agile business model, and strategic acquisitions, among other factors.

Markets regulator Sebi on Wednesday came out with an advertisement code for investment advisers and research analysts whereby they have been prohibited from issuing statements that may mislead investors as well as from using superlative terms in their advertisements. They have also been restrained from using complex language in an advertisement.

Markets will also not function for Ambedkar Jayanti next week. In the entire calendar year, the markets have 15 annual holidays in 2023, two more than last year.

As Das chose to maintain an equilibrium of growth and inflation by keeping rates unchanged at 6.5%, he again showed divergence from Fed's 25 basis point rate hike a fortnight ago.

Shares of Muthoot Finance will trade ex-dividend on the day of record date or a day before. When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment. An ex-dividend date also dictates which shareholders are eligible to receive the dividend payment.

The market breadth favours bulls with 30 stocks advancing in the 50-stock Nifty50 at the closing time

In the past five trading sessions, the benchmark Sensex closed in positive territory in four sessions. The BSE smallcap index also followed a similar trend as the benchmark, with slightly better returns of 4.42% in the same period. ETMarkets has identified 55 smallcap stocks that have consistently trended upward during this period. Of these, seven gained over 20%. However, as per Trendlyne's SWOT analysis, four stocks among the identified seven have more weaknesses than strengths.

Closing Bell: RBI rate hike pause pushes Sensex 144 pts higher; Nifty near 17,600; Bajaj Finance, Adani Ent gain 3% each

“In the beauty & personal care (BPC) segment, the net sales value (NSV) was up 26.5% year-on-year in 3QFY23 (34% in 9MFY23). Nomura estimates 4QFY23F NSV growth at 28% y-o-y, leading to 32% y-o-y growth for FY23F. This was slightly higher than its estimate of 31% y-o-y for FY23F,” Nomuras said.

Since January this year, about three dozen companies have allotted convertible warrants to their promoters. The list mostly includes small- and medium-sized companies across sectors. Ashapura Minechem, Flexituff Ventures, BCL Industries, Hariom Pipe Industries and Magnum Ventures are a few notable examples with an annual turnover above Rs 300 crore.

From a new age company which after remaining under pressure for a long time has seen an improvement in its score, to a specialty chemical company have made to the list. These large cap companies have shown an improvement in their SR score even in volatile times and their stock price has gained. ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists down stocks which fulfill the various criteria as specified into the algorithms & filters.

Singer India appoints Rakesh Khanna as MD & VC, who will replace Rajeev Bajaj

From a new age company which after remaining under pressure for a long time has seen an improvement in its score, to a specialty chemical company have made to the list. These large cap companies have shown an improvement in their SR score even in volatile times and their stock price has gained. ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists down stocks which fulfill the various criteria as specified into the algorithms & filters.

In the last five years, different segments of the chemical sector have seen re-rating. Sometimes, companies which are making input for pharma players, at other times companies which are making inputs for agrochem industry and occasionally agrochemical majors themselves. ET screener powered by Refinitiv’s Stock Report Plus lists down stocks from the chemical sector with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy".

Rail Vikas Nigam (RVNL) shares are trading ex-dividend as the company announced a Rs 1.77 interim dividend with April 6 as the record date. Around a day or two prior to the record date, companies usually trade ex-dividends. In the last year, the company has declared an equity dividend of Rs 2.02 per share, leading to a dividend yield of 2.72%. Trendlyne data shows that the consensus estimate represents a downside of -43.40% from the current levels, but Prabhudas Lilladher has a Buy call on the stock with a target price of Rs 78.

German industrial production rose significantly more than expected in February due, in part, to vehicle manufacturing, increasing 2.0% on the previous month.

From a new age company which after remaining under pressure for a long time has seen an improvement in its score, to a specialty chemical company have made to the list. These large cap companies have shown an improvement in their SR score even in volatile times and their stock price has gained. ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists down stocks which fulfill the various criteria as specified into the algorithms & filters.

Alkem stock price largely moved in a range from May 2022 where Rs 3,300-3,400 acted as a stiff resistance while on the downside Rs 2,800 acted as a crucial support on the weekly charts.

The RBI’s pause is like Sachin's stroke on a tricky pitch but with eyes set in and having the luxury of hitting the ball wherever he wanted. The RBI had the option of a rate hike or a pause. The pause was not entirely unexpected.

Banking gauge Nifty Bank was trading with 125 points or 0.31% gains at 41,124 with 10 out of 12 index stocks in the green. SBI, Punjab National Bank (PNB) and Bank of Baroda (BoB) were the top gainers while ICICI Bank and Axis Bank turned out to be the laggards.

Further in the list are chemicals and information technology companies. While 11 stocks are trading above average in the chemicals sector, 13 stocks are in the technology sector.

The policy outcome came out as a double positive for the equity market, and it would not be unreasonable to say that this could very well be the end of the rate hike cycle, according to Apurva Sheth, head of market perspective and research, SAMCO Securities.

Cigarette volume growth to remain stable, it said adding that at the industry level, the cigarette volumes have surpassed the pre-covid levels and ITC is gaining lost market share from its peers.

In the last five years, different segments of the chemical sector have seen re-rating. Sometimes, companies which are making input for pharma players, at other times companies which are making inputs for agrochem industry and occasionally agrochemical majors themselves. ET screener powered by Refinitiv’s Stock Report Plus lists down stocks from the chemical sector with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy".

The Reserve Bank of India has decided to keep the key benchmark interest rate - repo rate - unchanged at 6.5 per cent with readiness to act should the situation so warrant, Governor Shaktikanta Das announced on Thursday, after a two-day monetary policy (MPC) meeting. Here is what experts have to say about the policy announcement.

In the Nifty200 pack, nine stocks closed above their 200 DMAs (Daily Moving Averages) on April 5, 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:

"Nifty now looks fairly valued. The markets are slaves to earnings in the long run. If there is earnings growth in the next two quarterly earnings, the margin of safety increases," said Kranthi Bathini of WealthMills Securities.

Stock Reports Plus, powered by Refinitiv, is a comprehensive research report that evaluates five key components of 4,000+ listed stocks - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores.

“The RBI’s pause is like Sachin's stroke on a tricky pitch but with eyes set in and having the luxury of hitting the ball wherever he wanted. The RBI had the option of a rate hike or a pause. The pause was not entirely unexpected," said Nilesh Shah, MD, Kotak AMC.

In the Nifty200 pack, nine stocks closed above their 200 DMA (Daily Moving Averages) on April 5, 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 top gainers in the Nifty pack were State Bank of India, Adani Enterprises, Eicher Motors, BPCL and IndusInd Bank while the top losers were HCL Technologies, ONGC, UPL, Hindustan Unilever and Titan.​​

Axis Securities has picked State Bank of India, Infosys, ICICI Bank, Varun Beverages among a host of other large and midcap stocks as its top picks for the month of April. The brokerage's top picks' basket has outperformed the benchmark by a significant margin with a return of 9.7% in FY23 as against the 0.6% decline posted by Nifty over the same period.

This is the first time since May 2022 the central bank has not tweaked interest rates. The RBI has raised interest rates by a cumulative 250 basis points since May in its year-long battle against inflation.

"The recent rally which has taken the Nifty around 600 points from the March lows has been driven by reasonable valuations and short covering. FIIs turning buyers (Rs 4261 crores during the last 4 trading sessions) also has been supportive. Global support for the rally will depend on the payrolls data from the US tomorrow. Already ISM services data has come below expectations. So it is possible that tomorrow’s payrolls data may indicate a slowing economy and this can prove to be positive from the market perspective," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.