Prestige Estates Project shares have gained 10% in the past six sessions, hitting Rs 537 on Wednesday. Chandan Taparia, Head of Technical & Derivatives Research at Motilal Oswal Financial Services, recommends holding Prestige as it completes a pole and flag pattern formation for a 20% upside when it reaches Rs 600-625. Sharekhan recommends a buy, estimating similar 20% growth. Prestige's presence in the top 12 Indian markets, and aggressive expansion in the annuity portfolio is expected to generate a multi-fold increase in rental income, says the Sharekhan report.

After the Reserve Bank of India decided to maintain its policy rates, banking stocks remained stable while stocks in rate-sensitive sectors such as automobiles and real estate faced profit booking. The reaction of the stock market was expected, with investors predicting no major surprises in the policy statement. Although the RBI Governor highlighted macroeconomic improvements, concerns about monsoon season and the potential impact of El-Nino conditions still linger. The central bank maintained a GDP growth forecast for FY24 of 6.5%.

Tata Elxsi has collaborated with Indian Space Research Organization (ISRO) to design and develop crew module recovery models for its upcoming Gaganyaan Mission, leading to a boost in the company's share value by over 3%. Tata Elxsi has delivered the assigned models to Naval training teams at Kochi and Visakhapatnam to train the recovery teams. The Gaganyaan project consists of sending a crew into space for a three-day mission and safely bringing them back to Earth. One of the key requirements of the project is to ensure the safe recovery of the crew with minimal lapse of time.

Paytm's shares rose 8% to reach INR 786 ($10.58) after Bank of America Securities upgraded the stock to "buy", raising its target up to INR 885, stating strong revenue growth and Paytm's advantageous position in the SME merchant landscape as reasons. The fintech giant saw a 54% rise in its shares in the past six months. Paytm disbursed loans worth INR 5502 crore ($666m) through its platform in May, a YoY increase of 169% in value terms, with plans to onboard three to four lending partners in FY24.

Tata Motors' shares have hit a 52-week high after the company reiterated its focus on profitability, expanded portfolio in the passenger vehicle segment, and strengthened its India business franchise. The stock has witnessed an uninterrupted seven-session rally, resulting in gains of over 10%. Several top brokerages, such as CLSA, Morgan Stanley, and Nomura, recommended a 'Buy' rating on the company's shares after the announcements made during its 'Investor Day' meeting on Wednesday. However, Kotak Institutional Equities downgraded its recommendation to 'Reduce' despite keeping its FY2024-25E estimates unchanged.

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.

India's fast-moving consumer goods (FMCG) sector is outperforming the market, according to money managers and analysts who expect the trend to continue in the near to medium term. The Nifty FMCG index has returned almost 16% year-to-date compared to the benchmark Nifty50, which has returned about 3%. The run in the FMCG index has been broad-based, including gains in both large-cap and mid-cap stocks, due to commodity prices easing and demand showing signs of recovery. Analysts are bullish on the sector's growth prospects, especially in light of favourable monsoon forecasts.

Investors are always on the hunt for corporate actions from companies as these events will have an impact on the stock prices. Here are five such upcoming corporate action events to track this month. Source: Motilal Oswal.

Equity markets were largely steady after the policy outcome. Both Sensex and Nifty 50 were up 0.1% each at 63,221.02 points and 18,749.15 points, respectively. The Nifty Bank index was 0.2% up at 44,382.15 points.

"Chalet Hotels stock is currently trading at 12x/10x its FY2024E/FY2025E EV/EBIDTA. We have a Positive view on the stock and expect over 20% upside over the next 12 months. The target is placed at Rs 529," Kruttika Mishra, Research Analyst, Sharekhan by BNP Paribas, said.

Top brokerage firms have released their recommendations for various companies. Morgan Stanley has maintained an overweight rating on Zomato, while CLSA has maintained a buy rating on Tata Motors and BofA Securities has upgraded Paytm to buy. Additionally, Morgan Stanley has initiated equal-weight ratings on HDFC AMC and Tata Steel, and has maintained an underweight rating on HPCL. Morgan Stanley expects sustainable share gain for Tata Motors in the PV segment and believes Paytm is well-positioned to dominate the SME merchant landscape, while the impact of SEBI paper is expected to be limited for HDFC AMC.

The RBI's rate decision is due to be announced at 10:00 a.m. The monetary policy committee (MPC) is expected to leave the repo rate at 6.50% for a second straight meeting.

Sensex rises 50 points, Nifty near 18,750; Torrent Power jumps 6%, Tata Elxsi 3%; Yes Bank, Rail Vikas Nigam, Ircon International are some of the gainers in the morning trade.

“Ballpark we are currently at 10% cash. One of the main reasons to increase this was because of the number of headwinds that we are experiencing from conflict, Fed tightening, inflation and the potential recession, etc.,” Arun Chulani, Co-founder, First Water Capital Fund, said.

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 Maruti Suzuki and BHEL while Nooresh Merani has a buy/sell recommendation on ICICI Bank and Indus Towers for today's trading session. Check out the targets and stoploss.

The stock price of this company had undergone a sell-off in March and has been consolidating thereafter. Now the price has given a symmetrical-triangle breakout. The almost three-month consolidation inside the triangle can be considered as an accumulation. The price is now sustaining above the breakout and the previous peak, as well. A push in volume can lead to a swift upside in the short term.

In the Nifty50 pack, six stocks crossed their previous 5-year high values at the close on June 07, suggesting bullishness in counters, according to stockedge.com's technical scan data. Take a look.

Three stocks, Indiabulls Housing Finance Company, Manappuram Finance and India Cements, will be banned from the trade for Thursday under the future & options (F&O) contracts, despite still being available for the cash market. The F&O contracts of a stock go into ban phase when the open interest exceeds 95% of the market-wide position limits, with the ban only lifted when it falls below 80%. Both the S&P BSE Sensex and Nifty50 indices finished Wednesday's trading higher, ahead of the RBI policy to be published later in the week.

Indian market is expected to rise on Thursday following upbeat global cues. The S&P BSE Sensex surged over 300 points, while Nifty50 finished above 18,700 levels on Wednesday. India VIX increased from 11.38 to 11.44 levels. Options data suggest a broader trading range in between 18,450 to 18,900 zones while an immediate trading range in between 18,600 to 18,800 zones. Stocks recommended for short-term trading horizon are Balrampur Chini Mills, Bharat Forge, BPCL, and Jubilant Ingrevia by Axis Securities' Rajesh Palviya.

On the candlestick screener, a bearish reversal pattern helps identify stocks that can move uptrend from a downward zone. Here's a list of 4 stocks that have established a Dark Cloud Cover pattern and hint at a bullish reversal in the future. (Source: StockEdge)

In the NSE list of stocks with a market cap of over Rs 10,000 crore, eight stocks closed above their 200 DMAs (Daily Moving Averages) on June 7, 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 DMA on the daily time frame, it is generally considered to be an overall uptrend.

In the NSE list of stocks, 10 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 June 07.

On the candlestick screener, a bullish reversal pattern helps identify stocks that can move uptrend from a downward zone in the future. So, here are 4 midcaps that have established a Bullish 'Harami Cross' pattern and hint at a bullish reversal in the future. (Source: StockEdge)

Nifty futures on the Singapore Exchange traded 9 points, or 0.05 per cent, higher at 18,821, signaling that Dalal Street was headed for muted start on Thursday. Here's a slew of stocks that will be in focus today for various reasons. Watch.

Indian equity markets rallied ahead of the Reserve Bank of India policy outcome as investors anticipate a status quo. The S&P BSE Sensex gained 350 points to 63,000 levels, and the Nifty50 settled at 18,726. All sectors closed higher, with metal, realty, oil & gas, power, energy and FMCG indices all increasing by more than 1%. Varun Beverages shares dropped by 2.17% whilst Nestle rose by 3%. Stoxbox recommends investors avoid Torrent Power and Varun Beverages and buy Nestle India.

Asian shares fell after the Bank of Canada hiked interest rates to 4.75%, offering hopes that the Federal Reserve would take a hawkish approach in its next meeting too. Both China and Hong Kong saw a decline; while China's export numbers for May slumped, Hong Kong's Hang Seng Index fell 0.57%. The Bank of Canada's move follows the Reserve Bank of Australia's hike, which also took place earlier this week. Like the Bank of Canada, the Reserve Bank of Australia cited rising inflation pressures. The developments increase the likelihood that the Fed will surprise the market in its meeting next week with a potential hike that is not yet fully priced in.

The markets on Wednesday opened with gains and went on to acquire more momentum as the day progressed. The Nifty closed the session with an increase of over two-thirds of a percent.

Since its lows of March 23, 2021, the Nifty PE has risen from 18.49 and now stands at 21.70. In the same period, its price to book value rose sharply from 2.34 to 4.9 and dividend yield fell from 2 to 1.45. During this period, the Nifty returned 125.8%

The S&P 500 and Nasdaq ended the day lower on Wednesday as investors booked profits after a long megacap stocks run and ahead of key economic events. The Russell 2000 climbed 1.78%. The US inflation data for May is expected to show consumer prices eased, although core prices remain high. The Bank of Canada's decision to raise interest rates pushed up the 2-year and 10-year Treasury yields. The CBOE Volatility Index closed at its lowest since 14 Feb 2020. Wells Fargo raised Netflix's price target, with shares climbing 0.12% on the news. Yext soared 38.44% and Campbell Soup fell 8.91%.

The Board of Titagarh Wagons is scheduled to meet on June 10 to consider and approve a proposal to raise funds by issue equity of shares or other securities including through preferential issue.

Besides, there is no broad-basing criteria for an AIF which can be formed with just a few or even a single local or offshore investor who are called limited partners (LPs). Since such funds are incorporated in India, AIF investment in a domestic company is treated as local investment. Even if an AIF has all overseas LPs, the fund's equity holding in a company in India is not considered as foreign direct investment (FDI).

Demand from the housing sector, which forms two-thirds of the total demand for cement, has not improved materially. Therefore, there is still high dependence on government-funded infrastructure projects.

The loans pertained to various banks, and the nature of the obligation is fund-based working capital, non-fund-based working capital, term loans and FCCB (foreign currency convertible bonds).

With the liquidity surplus currently at around ₹2 lakh crore, the overnight call money rate has remained on the lower side, driving down banks' cost of funds.

The regulator also allowed taking insurance cover for invoicing facilities on the TReDS platform which would aid financiers to hedge default risks.

Overseas investors bought shares of financial services firms worth ₹17,671 crore in May, their highest monthly purchase in the sector in the last 29 months, according to Primeinfobase.com data. They purchased auto and auto components shares worth ₹8,700 crore, the highest monthly buy in over 10 years. FPIs bought shares worth ₹41,207 crore in May, the data showed.

The Sensex closed at 63,142.96, up 350.08 points, or 0.56%, from Tuesday's close. The Nifty advanced 127.40 points, or 0.68%, to settle at 18,726.40. Both indices are now within 1% of their respective all-time highs recorded on December 1 last year.

Short-term traders with a high risk appetite could consider buying the stock now or on dips for a possible target of Rs 870-900 in 1-2 months. The stock is trading well above the short- and long-term moving averages of 5, 10, 30, 50, and 200-DMA on the daily charts, which is considered a bullish sign

The S&P 500 and Nasdaq fell after reversing gains as technology stocks plummeted, with more than half of sub-sectors recording a decline. Inflation data in the US, due to be released shortly, is expected to show consumer prices marginally cooled in May, while core prices remained elevated

Ashish Kacholia, a well-known investor, has sold a partial stake in D-link India through open-market transactions. The investor sold around 1.94 lakh shares (0.54%) of the company, reducing his stake from 2.11% in March. Kacholia has a varied portfolio that includes the hospitality, education, infra, and manufacturing sectors

The Reserve Bank of India had announced its plans to expand the market in April and on Tuesday laid out guidelines for non-deliverable forward (NDF) contracts that can be issued to non-retail participants for hedging and are settled in Indian rupees.

The Reserve Bank of India (RBI) has authorized insurance companies to operate in the trade receivable discounting system (TReDS) in a bid to solve low-rated buyers’ payment challenges. TReDS facilitates various parties like sellers, buyers and financiers making it a preferred mode of financing for Micro Small and Medium Enterprises (MSMEs). The platform processes transactions worth $8.3bn annually, but insurers' participation on the platform will aid financiers with credit needs to hedge default risks. The RBI circular stated that the stage at which insurance facility is to be availed will be specified by the operators of TReDS.

Aruna Hotels' promoters and promoter groups have settled a Securities and Exchange Board of India (SEBI) case on the breach of SAST rules. The company's promoters paid ₹2.32 crore ($311,000) towards the settlement charges without admitting or denying the findings of regulators. SEBI had earlier issued a show-cause notice to the applicants for violating SAST (Substantial Acquisition of Shares and Takeovers) norms, before recommending that the matter be settled on payment of the charges.

Foreign portfolio investors (FPIs) have allocated over half of their net inflow in Indian equities to the automobile sector this year, with FPI assets under management in the sector rising by nearly 19% to $37 billion year-to-date. The order books of Maruti and Mahindra and Mahindra show promising volume visibility, and the auto sector has become the fifth-largest valued in FPI equity portfolios. FPIs also invested 32% of May's inflow in the capital goods sector, with a total of $3.6 billion invested in Indian equities since the start of 2023.

Life Insurance Corp (LIC) has raised its stake in Indian IT services firm Tech Mahindra to 8.8% from 6.8%, having added 1.96 crore shares through open market transactions. LIC saw its income from investments increase slightly to INR67,846 crore ($10.5bn) for the January-March period. Tech Mahindra shares ended 0.85% higher at INR1,095 on the NSE on 28 June, and the company has an average target of INR1,086.09, just under the current price, according to Trendlyne.

The price was at a 4.94% discount to the floor price of Rs 29.94 per share. The QIP, which opened on June 1, was fully subscribed and received a strong response from domestic as well as foreign investors, the bank said. Life Insurance Corporation of India took up the biggest chunk of shares with an allotment of 8.34 crore shares, which is nearly 24% of the capital raised.

The US Federal Reserve is not expected to raise rates at its June meeting, according to a Reuters poll, although a number of analysts expect at least one further increase this year. The poll saw 90% of the 86 economists surveyed predict that the federal funds rate will remain at 5.00% to 5.25%. A minority predict a further rise of 25 basis points to 5.25%-5.50%. However, over a third of respondents expect a rate hike later this year, including eight analysts who see one coming in July.

Life Insurance Corporation of India (LIC) has raised its stake in IT firm Tech Mahindra Ltd by about 2 per cent through open market acquisition. LIC bought 1.9 crore shares or 2.01 per cent of equity capital at an average price of Rs 1,050.77 per unit, the insurer said in a regulatory filing.

The benchmark index Sensex experienced a positive surge of 350 points on Wednesday, reaching a milestone of 63,143. Consequently, 10 stocks from the BSE commodities index achieved new highs for the past 52 weeks. This particular milestone holds importance for specific traders and investors as a significant technical indicator for assessing the current value of a stock and forecasting future price trends. It symbolizes the highest price at which a stock has been traded in the preceding twelve months.

Dow falls 10.81 points, S&P 500 opens higher by 1.62 points and the Nasdaq Composite gains 18.85 points