The net debt to EBITDA ratio is now at 2.81 times, the group said in a credit update.

Investments in equities or mutual funds should be made with a long-term horizon to avoid risks from timing the market, according to Bhuvanaa Shreeram, Co-Founder & Head of Financial Planning at House of Alpha. Investors should focus on balancing large-cap with small- and mid-cap funds, with 50% of the money going to the former and the remaining divided between the latter, she advised.

The Dow Jones Industrial Average rises 8.37 points; S&P 500 opens higher by 0.62 points and Nasdaq Composite drops 2.28 points

Led by gains in the auto, consumer durables and private banking pack, Indian equities ended higher on Monday.While Sensex rose 240 points, Nifty ended near 18,600 levels. Consequently, 5 stocks from the BSE auto index hit their new 52-week highs. The 52-week high is a significant technical indicator for certain traders and investors, as it helps assess a stock's current value and forecast future price trends. This metric represents the highest price at which a particular stock has traded over the last 12 months.

SEBI and stock exchanges have included micro-small cap firms in their enhanced surveillance framework, prompting a large number of market stocks to suffer steep losses. The companies with a market capitalisation of less than Rs5 billion will be put under surveillance in a two-stage process.

“The short-term trend of Nifty continues to be positive with rangebound action. The present consolidation movement is expected to continue within a high low range of 18700-18500 levels in the next 1-2 sessions,” Shetti said, adding that a decisive move above 18700-18800 is expected to bring more upside for the near term.

Shares of Rossari Biotech have risen over 11% in the last three trading sessions, following the company's Annual General Meeting on May 31, after which a dividend payout of Re 0.50 per share and the appointment of a director were approved by the board. The chemical manufacturing company's shares have rebounded over 50% from a 52-week low of Rs 536 they hit on April 16, 2023, and were trading above their 20, 50, 100, and 200-day moving averages. Relative Strength Index (RSI) and MFI momentum indicators were near 70.

Jefferies' coverage universe of domestic companies reported a 30% YoY growth in fourth-quarter earnings, led by a strong financial performance. Meanwhile, revenue growth remained at mid-teen levels during the quarter. The brokerage is bullish on cyclicals, citing over 40% growth in property sales and cap-good order flow. Following the quarter, Jefferies raised FY24 estimates for 45% of 136 companies, while 51% were downgraded. Banks reported a 46% growth in earnings, while autos and pharma firms also saw positive results. However, IT firms had a weak quarter, with significant revenue misses and weak guidance for FY24 revenues.

Goldman Sachs is optimistic about India's medium-term growth prospects and recommends foreign investors build exposure in the emerging market due to its stable macroeconomics and strong historical track record. The bank favours domestic cyclicals, especially banks and investment cyclicals such as industrials and cement. It also expects themes like "make in India" and quality at a reasonable price to play out in the coming years. The bank has identified largecap compounders and midcap multibaggers as stocks investors should consider for increasing exposure in the medium term. India's aggregate equity market capitalization has surged 12-fold since 2003.

Jefferies' coverage universe of domestic companies reported a 30% YoY growth in fourth-quarter earnings, led by a strong financial performance. Meanwhile, revenue growth remained at mid-teen levels during the quarter. The brokerage is bullish on cyclicals, citing over 40% growth in property sales and cap-good order flow. Following the quarter, Jefferies raised FY24 estimates for 45% of 136 companies, while 51% were downgraded. Banks reported a 46% growth in earnings, while autos and pharma firms also saw positive results. However, IT firms had a weak quarter, with significant revenue misses and weak guidance for FY24 revenues.

Benchmark indices Sensex and Nifty closed higher for the second straight session on Monday, boosted by buying in index heavyweights Reliance Industries, ICICI Bank and M&M stocks amid a positive trend in global markets. The 30-share BSE Sensex climbed 240.36 points or 0.38 per cent to settle at 62,787.47. During the day, it jumped 396.09 points or 0.63 per cent to 62,943.20. The NSE Nifty advanced 59.75 points or 0.32 per cent to end at 18,593.85.

Stocks that were in focus include names like Bharat Electronics, up over 2% to hit a fresh 52-week high, GE Power India gained more than 18%, and Tata Motors closed with gains of 2% to hit a fresh high on Monday.

Asian stocks followed Wall Street higher on Monday after strong US hiring data suggested a possible recession might be further away and that the US Fed would pause rate hikes this month.

Embassy Office Parks REIT has raised INR1050 crores ($142m) via coupon-bearing Non-Convertible Debentures (NCDs) in order to refinance bank loans by securing 138 basis points interest savings from a 7.77% coupon rate, compared to expected interest rates during repricing. The NCDs carry a “AAA/Stable” rating from rating agency Crisil and will be listed on the wholesale debt market of BSE. The funds were raised with the help of arrangers including Axis Bank, Barclays Bank and ICICI Bank. Embassy REIT owns and operates a 45m sq ft portfolio of nine high-quality office parks in India.

European shares struggled to maintain momentum on Monday after posting gains last week, as markets faced consolidation. The pan-European STOXX 600 index held within a tight three-point range, with London’s FTSE 100 index leading slight gains of 0.5%, due to rallies in energy firms following higher crude oil prices. Meanwhile, European oil and gas sector index rose by 0.9%, buoyed by an announcement from Saudi Arabia, which stated it was planning to cut production by one million barrels per day from July. The STOXX 600 had experienced declines of over 3% over May, marking its weakest monthly performance of the year due to concerns of a trading standoff between China and the US, and signs of a global economic slowdown.

Tata Motors' shares rose 2.3% after the Tata Group announced plans to invest INR 13,000 crore ($1.8bn) in setting up a lithium-ion plant in Gujarat through Tata's Agratas Energy Storage Solutions unit and the Gujarat government. The plant will be situated in Sanand, northern Gujarat, and will have an initial manufacturing capacity of 20-gigawatt hours, which could be doubled later. The investment will occur in two phases, according to an official announcement by the Gujarat government, with work expected to begin in less than three years.

IT major Wipro has set June 16 as the record date for its proposed buyback of Rs 12,000 crore worth of shares. Shareholders have already approved the buyback of 26.97 crore shares on a proportionate basis through a tender offer, with the shares priced at Rs 445 per share. While the timeline for the buyback is yet to be announced, 15% of the shares - or 4 crore shares - in the buyback are reserved for retail investors, who can earn between 4% and 13%, depending on the extent of the buyback offer acceptance.

Angel One reported a 1.7% YoY decline in gross client acquisition at 0.46 million in May, with overall client base at 14.58 million, up 44.5% YoY. Equity retail turnover market shares stood at 23.9% and retail turnover market share at 13.4% in cash. Angel One's Average Daily Turnover stood at ₹2,203,700 crore vs ₹2,197,800 crore in April. In the F&O segment, it was ₹2,167,100 crore, and in the commodity segment, it stood at ₹24,000 crore. Unique mutual fund SIPs registered were at 122070, down 18% MoM.

Exide Industries, a part of the auto component space, hit a 52-week high in June with a breakout from a bullish Pole and a Flag pattern on the daily charts, implying that the bullish bias will continue. Short-term traders are advised to purchase the stock on dips or now for a potential target of Rs 225 in the next three to four weeks. The stock is trading well above short and long-term moving averages on daily charts, indicating a positive sign for the bulls. The bullish trend is expected to continue, and the overall chart structure suggests a move toward 225 zones with a stop loss below 202 levels.

The government has been focussing on specific industries which don't come under the traditional definition of agriculture but still are very important for increasing the income of marginalised sections in coastal and rural areas. Right from an animal feed maker to an exporter of poultry products, a number of companies which are part of the rural economy are likely to be beneficiary as policy makers focus on increasing rural incomes.

Bulls are in control of both, Nifty and market breadth. Some stocks have seen an improvement in their analyst scores during this period. 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.

Mazagon Dock Shipbuilders, a state-run defense PSU, has seen its stock rally over the past six trading sessions and is likely to surpass its all-time high of Rs 936. The multibagger stock has delivered returns of over 180% in the last 12 months, outperforming the Nifty50 by more than 170% during the period. Technical analyst Nilesh Jain of Centrum Broking has recommended a 'buy' on the stock with a target price of Rs 930 and a stop loss at Rs 740, based on positive chart structure and higher tops and higher bottoms formation. The stock is trading below the industry median PB value and reported Q4FY23 revenue of Rs 2,078.60 crore, up 49% YoY.

Lupin's shares reached a 52-week high of INR 830.3 after it announced the launch of its Darunavir Tablets to market a generic equivalent of Janssen Products' Prezista Tablets. The estimated annual sales of Darunavir Tablets in the US is at around $308m (as of IQVIA MAT March 2023). Lupin also reported a surge in stock figures, having gained over 16% in a month and over 35% in a year. Furthermore, the stock's day RSI (14) is at 79.8 and MACD is at 24.7, indicating bullish signals.

Indo Rama Synthetics' shares rose by 18% to Rs 50.4 after its subsidiary firm started commercial production of "Bottle grade PET resins" at its newly-constructed Solid-State Polymerisation Plant. However, Indo Rama Synthetics' stock has declined nearly 19% on a year-to-date basis and over 30% in the last year. In Q4 FY23, the company's net profit was Rs 1.62 crore, down 98% YoY, and net sales stood at Rs 880 crore, down 30%. The stock is trading above six out of eight SMAs and below the 150-day and 200-day moving averages. The day RSI (14) is at 46.8 and MACD is strong bearish.

"Auto is making new highs as volumes are improving every month, commodity inflation is behind, and production issues are getting resolved. It only helped that Auto Index was among the worst performing indexes in FY22 and hence bounce back was also with a vengeance in FY23," Kashyap Javeri, Fund Manager, Emkay Investment Managers, said.

On the candlestick screener, a bearish reversal pattern helps identify stocks that can slip into a downward trend from the current uptrend. Here are 4 NSE smallcap stocks that have established a Gravestone Doji pattern and signify a bearish reversal. (Source: StockEdge)

The Parag Parikh Flexi Cap Fund boosted its holdings of Indian cigarette maker ITC Ltd and Coal India when valuations were low, according to the company's chief investment officer, Rajeev Thakkar. The fund's return of 14% this year has outperformed 90% of its peers due to Thakkar's contrarianism against ESG mandates. Global funds have trimmed their exposure to tobacco, coal, and oil companies in recent years to comply with ESG guidelines. Thakkar is guided by the strategies of ITC and Coal India to pivot away from their traditional businesses towards agriculture, renewable energy, and the consumer space.

India's Q4 2022 corporate earnings were strong but uneven due to the poor performance of the metal sector. While the profitability of companies remained healthy, metal and oil & gas dragged Q4 earnings, with metal firms reporting a YoY decline in profit after tax for the January to March quarter. However, Motilal Oswal Financial Services estimates that aggregate metal sector profit after tax for FY24E will rise to INR41,800 crore, an 88% YoY increase from the previous financial year. Kranthi Bathini, Director-Equity Strategy at WealthMills Securities, advocates metal stocks as a long-term investment on the back of India's infrastructure growth.

On the candlestick screener, a bullish reversal pattern helps identify stocks that can slip into an uptrend from a downward zone in the future. Here are 4 smallcap stocks that have established an Inverted Hammer pattern and hinted at a bullish reversal in the future. (Source: StockEdge)

The Indian equity market is hovering within kissing distance of the all-time high levels which analysts expect the index to touch this week. Amid this backdrop, a host of analysts have shared their tech views on particular stocks that can rally up to 11% in the near term. These stocks include Apollo Hospital, HUDCO and Sun Pharma. Here is a list of 5 tech picks from various analysts:

Analysis showed that 12 loss-making companies, including Jet Airways India, PB Fintech, and Paytm parent One 97 Communications, have considerably reduced their losses quarter after quarter. Jet Airways managed to narrow losses to INR55 crore ($7.4m) in Q1 FY23, from INR390 crore in Q1 FY20. Jaiprakash Associates improved its financials after the sale of non-core assets, trimming losses to INR156 crore in Q1FY23. Experts recommend building a long-term portfolio of quality companies with lean balance sheets, capital efficiency and growth longevity, considering sector-specific prospects and global growth.

JPMorgan has downgraded Vedanta to neutral from overweight, while maintaining its underweight stance on Hindustan Zinc and overweight rating on Hindalco. Citi has also downgraded AU Small Finance Bank to neutral, while Macquarie has retained its underperform rating on Info Edge. JPMorgan has slashed the 12-month target price for Vedanta to INR 280 from INR 350, while maintaining its underweight rating on Hindalco with a target price of INR 205, and retained its overweight rating on Hindalco with a target price of INR 490.

In the NSE list of stocks with a market cap of over Rs 10,000 crore, 8 stocks crossed their previous 5-year high values at the close on June 2, suggesting bullishness in counters, according to StockEdge’s price scan. Take a look.

Sensex rallies 350 points; Nifty above 18,600; Rossari Biotech jumps 5%, IRCTC sheds 2%; Tata steel, TV18 Broadcast, Housing and Urban Development Corporation are some of the gainers in the morning trade.

The stock price of this life insurance company is moving inside a rising channel for the past month. It has not faced resistance from the upper trendline of the channel. At the point of resistance, the candlestick pattern formed is a bearish engulfing which suggests that the short-term top is in place and a correction can be expected in price.

From the Sensex pack, M&M, ICICI Bank, and Wipro were the top gainers, rising over 1% each. Power Grid, HCL Tech, Bajaj Finserv, Axis Bank, Bajaj Finance, and Tata Motors also opened higher. On the other hand, only Nestle, Tech Mahindra, and Asian Paints opened lower.

On Friday, the markets went through a see-saw movement with gains and losses, opening on a positive note and hitting a high point early. Later, they gave up the gains, moving into the negative zone with the Nifty ending the day with a gain of only one quarter of a percent.

Paytm, the Indian digital payments platform, has experienced a 24% YoY increase in its average monthly transacting users (MTU) at 9.2 crore for the quarter-to-date period. The company disbursed loans worth ₹5,502 crore ($666m) in May, representing a 169% increase in loan disbursements in value terms. The MTUs have been averaged over the April and May months. Paytm credited the jump to growth trends in postpaid and personal loans. It has also seen continued growth in its payments and loan distribution businesses, supported by the continued expansion of its customer base.

The stock price of this life insurance company is moving inside a rising channel for the past month. It has not faced resistance from the upper trendline of the channel. At the point of resistance, the candlestick pattern formed is a bearish engulfing which suggests that the short-term top is in place and a correction can be expected in price.

The Indian market is expected to rise as positive global cues influenced trade. The S&P BSE Sensex gained 100 points, and the Nifty50 market index closed above 18,500 levels. India VIX decreased by 4.09% creating sessions that are choppy. The strategic Call OI maximum for this week is at 18,600 while the maximum Put OI is at 18,500. Stocks suggested for traders who have a short-term trading horizon include Redington, NMDC, Shriram Finance, and BEML. On the other hand, Hero MotoCorp, Mahindra Finance, and L&T, among others, are also suggested for trading by various experts.

Seven stocks' prices crossed above their 200 DMA (Daily Moving Averages) on June 2, according to StockEdge’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 futures on the Singapore Exchange traded 84 points, or 0.45 per cent, higher at 18,713, signaling that Dalal Street was headed for positive start on Monday. Here's a slew of stocks that will be in focus today for various reasons. Watch.

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 Sun Pharma and L&T while Nooresh Merani has a buy/sell recommendation on L&T and Hero Moto for today's trading session. Check out the targets and stoploss.

Indian equities bounced back, ending a two-day fall with the S&P BSE Sensex closing up 118 points at 62,547, and Nifty50 settling at 18,534 levels. Despite the laggards of IT and oil and gas sectors, stocks in metal, telecoms, and autos sectors helped drive gains. Hero MotoCorp grew by 3.09%, Zomato rose by 4.71%, and Cyient experienced a 6.49% gain. Senior Technical Analyst Pravesh Gour suggests investors buy Hero MotoCorp above Rs 2,950 and Cyient, and lists long-term recommendations for Zomato.

Asian shares continue to rise on Monday fuelled by the positive outlook for the US economy, and the possibility of a pause in rate hikes by the Federal Reserve. Oil prices increased after Saudi Arabia announced a significant cut in production. Brent crude rose by $1.82 to $77.95, while US crude increased by $1.77 to $73.51. Furthermore, Australia’s resources-focused shares increased by 1%, and Japan's Nikkei rose by 1% to its highest in 33 years. Despite a positive jobs report in the US market, moderating wage growth has encouraged records of a pause in June.

“Indigo stock is in a gradual uptrend to cross its all-time high of 2380. It has taken almost 18 months to reach the 2300 level. The strategy should be to buy 50% at current levels and the rest at 2000,” Shrikant Chouhan, Head of Research (Retail), Kotak Securities, said.

USFDA has conducted an inspection at Zydus’ animal health drug manufacturing facility at SEZ, Ahmedabad. The inspection concluded with nil observations.

Foreign portfolio investors have net sold shares worth Rs 659 crore on Friday. DIIs on the other hand bought Rs 582 crore.

According to an ET poll with 16 respondents, the six-member rate-setting panel is seen maintaining the benchmark policy repo rate at 6.50% during the June 6-8 meeting, marking the second consecutive instance of it holding off on policy tightening. The respondents were unanimous in their expectation.

The sales, set to begin Monday, will rumble through every asset class as they claim an already shrinking supply of money: JPMorgan estimates a broad measure of liquidity will fall $1.1 trillion from about $25 trillion at the start of 2023.