“We have a positive view on Welspun Corp and expect a 30% upside. The strong growth outlook, focus to strengthen the balance sheet, aim to diversify into new business makes us constructive on Welpun Corp,” Abhijeet Bora, DVP Research Analyst at Sharekhan by BNP Paribas, said.

JPMorgan maintained a neutral rating on GAIL India with a target price of Rs 115. The tariff order is positive, and volumes should pick up, said the global brokerage. Tariff hike and lower spot LNG prices are positive for the stock, it added

As of 9.21 am, the S&P BSE Sensex dropped 265 points or 0.46% to 57,949, while the Nifty 50 index fell 90 points or 0.52% to 17,062.

Among other stocks, defence PSU stock Mazagon Dock Shipbuilders has rallied around 180% during the year amid government's increasing thrust on domestic manufacturing and defence spending.

Sensex falls 250 points, gives up 58,000; Nifty below 17,100; HAL tanks 6%, Adani Green climbs 5%; Yes Bank, PNB, Tata Steel among most active stocks on NSE.

Equity markets across Asia were also trading mixed after the US Federal Reserve hiked interest rates by 25 basis points (bps) in their latest committee meeting which was in line with market expectations.

The Rs 155 crore IPO was subscribed 12.21 times after heavy bidding from non-institutional investors. The retail part was subscribed 5.12 times, and the NII category was subscribed 33 times. The portion reserved for qualified institutional buyers (QIBs) saw 8.95 times subscription.

“We have a positive view on Welspun Corp and expect a 30% upside. The strong growth outlook, focus to strengthen the balance sheet, aim to diversify into new business makes us constructive on Welpun Corp,” Abhijeet Bora, DVP Research Analyst at Sharekhan by BNP Paribas, 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 Ultratech Cement and IDFC while Nooresh Merani has a buy/sell recommendation on AB Capital and L&T for today's trading session. Check out the targets and stoploss.

On Wednesday, the markets oscillated in a range-bound manner, with the Nifty opening higher and then ending the day with modest gains. The focus is on the US Fed’s decision, which if it comes on expected lines, will not invite any negative response.

The price of this company has risen gradually from the June 2022 bottom of Rs 80 to the double-top at Rs 125 formed in December-January. Recently, the price has formed a higher low and managed to surpass the resistance of a falling trendline on a closing basis. This move will be considered as a breakout and is expected to propel the price higher.

Momentum indicators RSI and MFI are in a medium range at 41.5 and 60.7, respectively according to Trendlyne. A number below 30 indicates that the stock is trading in the oversold territory while above 70 it is in the overbought zone.

The government has proposed to sell 5.852 million shares representing 1.75% of equity capital, with a green shoe option of another 5.852 million shares in the event of the oversubscription. Non-retail investors can subscribe to the offer on Thursday and retail investors on Friday.

It formed Higher Highs and Higher Lows on the long-term chart and is trading close to 52-week highs. It is advised to keep a bullish outlook and to buy at the support level of 3200-3250 with a stop loss of 2990. On the higher side, 3600+ levels are possible.

Fed hikes rates by a quarter percentage point, indicates increases are near an end. How will this impact the Indian stock market today? ET NOW's Managing Editor Nikunj Dalmia decodes.

"The daily momentum indicator triggered a fresh positive crossover on Wednesday, which is a buy signal. Also, we believe that the pullback is not yet complete and we expect it to continue over the next few trading sessions," Gedia said.

Gains pared during Powell's remarks and Q&A session in which he vowed to use all available tools to keep the banking system sound, but reiterated the central bank's commitment to reining in inflation.

Global markets have been volatile, with bank shares battered in the past two weeks following the sudden failures of two U.S. lenders an emergency sale of embattled Swiss banking behemoth Credit Suisse.

Forecasts from the 18 policymakers were varied, however, with seven policymakers seeing a higher appropriate stopping point for rates. One policymaker thought no further rate hikes would be needed.

After allegations of manipulation and collusion by big global banks, the end of Libor began in 2017, with 2023 decided as the last year in the transition road. By end-2021 many banks had stopped drawing contracts using Libor and June 2023 was set as the deadline for replacing the guiding rate.

Analysts Abhishek Dangra and Richard M Langberg, authors of the report, also said serious lapses uncovered in the ongoing scrutiny of the conglomerate could also prompt negative rating action.

The survey results align with the view of Fed officials, but it pushes back on traders who amped up bets on rate cuts for this year — sending Treasury yields sliding — even after Wednesday’s hike and Fed Chair Jerome Powell’s subsequent comments.

That hope was reduced on Wednesday, after Yellen told a hearing of the U.S. Senate's Appropriations Subcommittee on Financial Services that she was not considering such a move without congressional approval and was reviewing bank risks on a case-by-case basis.

NSE reintroduced the DNE facility in April 2022 after discontinuing in October 2021 after brokers complained of trading mishaps during the expiry of equity derivatives contracts with traders unable to meet their settlement obligations connected to physical delivery.

Asian stocks struggled Thursday in the wake of a slump on Wall Street after Treasury Secretary Janet Yellen rattled bank shares and the Federal Reserve pushed back against bets for interest rate cuts this year. Benchmark indexes fell in Japan, South Korea and Australia while a gauge of US-listed Chinese companies fell earlier.

The union government will sell up to 3.5% stake in Hindustan Aeronautics Ltd (HAL) through an offer for sale (OFS). The floor price for the OFS has been fixed at Rs 2,450 per share.

The stock hit a 52-week high of Rs 2,741 on 9th December 2022, but it failed to hold on to the momentum. The stock closed at Rs 2,463 which translates into a downside of about 9%.

"The market is undergoing a phase of uncertainty and during such times, FMCG stocks usually act as a defensive space and thus witness good buying interest. Within the FMCG stocks, the heavyweight HUL has witnessed a pullback move from support zone," Ruchit Jain, Lead Research, 5paisa.com, said.

In a separate transaction, Small Cap World Fund Inc sold shares of Kajaria Ceramics for Rs 130 crore through an open market transaction.

According to market sources, the grey market premium of Global Surfaces shares fell to around Rs 9-10 from Rs 15 earlier. If we consider the upper price band of Rs 140, the company shares are expected to list at a 7% premium over the issue price.

According to Vortexa, a global water-borne oil and gas flow data and analytics company, 1.2 billion barrels of crude oil were on the water in the first week of March, highest since 2016 as the demand has shot up after China, the world’s largest oil importer ended covid-related lockdowns last year. This has led to a sharp surge in freight rates according to reports.

Although the benchmark index Sensex ended 140 points to around 58,214 levels on Wednesday, four stocks from the BSE healthcare index hit their lowest levels in the past 52 weeks. The 52-week low is a technical indicator that reflects the lowest price at which a stock has traded during the past year. Some investors and traders consider this an important factor for assessing a stock's current value and predicting its future price movements.

The Dow Jones Industrial Average rose 9.59 points, or 0.03%, at the open to 32,570.19.

GameStop soared as much as 53%, heading for its biggest gain in two years, at the opening bell and it pulled other meme stocks along for the ride.

Indian shares advanced for a second straight session on Wednesday as concerns over a banking crisis receded further, while investors braced for a crucial interest rate decision by the US Federal Reserve. The Nifty 50 index ended above the 17,150 mark, while the S&P BSE Sensex rose 0.24% to 58,214.59.“The pullback is not yet complete, and we expect it to continue over the next few trading sessions. On the upside, we expect it to retrace till levels of 17,460 – 17,500, where resistance in the form of the 200-day moving average and also a gap formed on March 10 is placed. On the downside, the immediate support stands at the lower end of the downward sloping channel 16,800 – 16,830,” Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas, said.Here are stock recommendations for Thursday:

The short-term trend of Nifty remains positive, but the market is not gaining momentum through the hurdle. Unless the immediate resistance of 17,200 is taken out decisively on the upside, the chances of a sharp upmove could be less, said Nagaraj Shetti, Technical Research Analyst, HDFC Securities, adding that the immediate support is at 17,020 levels.

The floor price for the OFS has been fixed at Rs 2,450 per share.

So, while a rate hike is essential to bring inflation closer to the Fed’s 2% target, it would mean adding to the liquidity woes the banking system is currently experiencing.

Low PE stock is considered a value stock, best suited for long-term investment horizons. Kalyan Jewellers, Apollo Tyres, Hindustan Aeronautics and Dr Reddy's Labs are trading at lower PE than their respective industry PE, according to Trendlyne data. Meanwhile, these stocks belong to different industries and can rally up to 34%, Trendlyne data suggested. Here is a list of 11 street favourite stocks with less-than-industry PE levels, according to Trendlyne data:

World markets will be paying especially close attention to the Federal Reserve's interest-rate decision on Wednesday after two weeks of market turmoil over the collapse of three regional US banks. US central bank is walking a tightrope between continuing to raise rates to combat high inflation or stepping on the brake to prevent further upheaval in the commercial banking sector. Watch here what to expect from the FOMC meeting.

After Taiwan, India is currently the top weighted market of Mobius as it takes a bet on the manufacturing potential of the country. The ace investor said that he is looking to increase the allocation going forward.

These small cap companies have shown positive returns in the last one month at a time when markets have been overwhelmed by news and other developments. ET screener powered by Refinitiv’s Stock Report Plus lists down stocks with high upside potential over the next 12 months, having an average recommendation of “buy” or "strong buy".

India ranks third in the world with a total of 187 billionaires. Mukesh Ambani, who sits over a wealth of $82 billion, has overtaken Gautam Adani to bag the richest Indian title. Ambani is the only Indian to feature in the top 10 of coveted global billionaires list.

GameStop's shares rose almost 40% in premarket trading after the video game retailer posted its first profitable quarter in two years, which helped encourage other stocks popular with retail traders. The company recorded an adjusted profit of 16 cents per share in Q4, compared to a 47 cent loss a year ago, thanks to cutting costs, including job reductions. Revenue declined 1.2% to $2.23bn in the quarter, and analysts said revenue headwinds persist in GameStop's core business, but added that the Q4 cost-cutting was encouraging. Meme stocks like GameStop and AMC rebounded after suffering in the high-interest rate regime of the past year.

Equity benchmark Sensex and Nifty advanced for a second straight session on Wednesday as concerns over a banking crisis receded further, while investors braced for a crucial interest rate decision by the U.S. Federal Reserve. Continuing its previous day's rally, the 30-share BSE Sensex advanced 139.91 points or 0.24 per cent to settle at 58,214.59. The broader NSE Nifty climbed 44.40 points or 0.26 per cent to end at 17,151.90.

SVB and Signature Bank's collapse has sparked concerns over the sector's health at a time when central banks are busy taming inflation. So here is a piece of advice by Zerodha CEO Nithin Kamath on 'risk-free' investments amid a global financial crisis.

India is also home to the richest aviation billionaires, with a wealth of $3.6 billion and $3.3 billion, Rakesh Gangwal and Rahul Bhatia and family of Indigo Airlines are the wealthiest aviation billionaires.

The 30-share BSE benchmark Sensex surged 140 points or 0.24% to settle at 58,214. The broader NSE Nifty rose 44 points or 0.26% to end at 17,152.

Angel One's shares will likely trade ex-dividend a day or two before the record date. 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

As the markets get jittery, select pharma stocks are back in focus. This tends to happen in bearish markets. Some of them are mid-sized Indian pharma companies which are not hit by pricing pressure of the US generic market and other issues which large pharma companies are facing. The list is based on upside estimated by the analysts, with the highest potential stock coming on the top of the list.