Ambit Capital predicts that Nifty's fair value will be 20,900 by March 2024 by estimating its EPS at Rs 940 and 10-year G-Sec yield at 7.1%. Ambit has included five new stocks- SBI Cards, Indigo, Affle (India), Max Healthcare, and IndiaMart Intermesh to its portfolio. The brokerage house has reduced weight in IT, whereas it is marginally overweight in banks. The preference remains in favor of large caps over small and mid-caps. Ambit G&C portfolio has mid and small-cap allocations at 12% and 5%, and cash at 5.2%, but it has removed two stocks - LIC Housing Finance and GCPL - besides Bank Nifty.

Prestige Estates has become the 100% owner of two under-construction office complexes in Mumbai. The Bengaluru property development firm bought out the shareholdings of DB Group for INR1,176 crore ($167m). Prestige Estates each had a 50% stake in the two projects, which are expected to be completed in three to four years. The acquisitions give Prestige ownership of properties with a potential gross leasing area of 5.69 million sq ft. It has operations in more than 12 major Indian locations and a diversified business model across residential, office, retail, hospitality, property management and warehouses.

Maya explained, "Delta is a measure of how much an option's price will change with changes in the price of the underlying asset.​​ Delta is expressed as a value between -1 and 1. For a Call option, Delta ranges from 0 to 1, while for a Put option, it ranges from -1 to 0."

The Nikkei 225 in Tokyo rose 0.30%, closing at 31,328.16, while the Topix slipped 0.07%, closing at 2,159.22. Investors took profits in the early trade after the Nikkei index scored its highest finish in 33 years, while global markets praised a broad deal in Washington over raising the debt ceiling. Analysts observed that foreign market players have been the major driver of recent gains in Tokyo, but they are now taking a break with the US market closed. Investors remain cautious, waiting for the release of key US economic indicators later in the week.

While predicting oil price is hazardous, there is a high probability that if oil prices even stay at these levels, some companies from oil and marketing space and refiner’s will be able to see improvement in their margins that could be reflected in coming quarters.

As the NIFTY and broader market continues to recover, analysts are bullish on select large cap stock. Making to the list are companies from different sectors, like new age companies, fertilizer and insurance companies. Few of them have come in the limelight recently due to their Q4 results. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks. This predefined screener is only available to ET Prime users.

Lower metal prices are benefiting many sectors as they say in steel one company’s loss is another company’s gain.

Companies are increasingly investing in advanced generative AI platforms due to their success rate and potential in transforming businesses. The COVID-19 pandemic further accelerated the need to build technology capabilities across several sectors, which opened up new opportunities for the IT industry. Generative AI holds significant potential to transform businesses across several sectors, and US IT major Accenture identified over 300 potential use cases across 19 industries. Though generative AI can drive demand tailwinds, cost competitiveness will remain key for the IT sector. Reports suggest that the global AI market, currently worth $130 billion, has the potential to grow by 40% over the next 7-8 years.

Jubilant Pharmova's quarterly net loss widened to INR 98 crore in the March quarter of FY23 from a loss of INR 15.67 crore in the previous quarter. The firm posted a loss compared to a profit of INR 59.55 crore the previous year. The decline in profitability was due to a significant increase in total expenses in the quarter, which reached INR 1,785.57 crore. Despite the net loss, the board of directors declared a dividend of INR 5 per share for the fiscal year FY23. At 10.55 am, the stock was trading 7.4% lower at INR 332.1 on BSE.

Shares of Aurobindo Pharma surged by up to 7.2% to reach Rs 655 in early trade on BSE after receiving favourable views on the stock from several top brokerages, despite a 12% YoY dip in profit for Q4FY23. The Hyderabad-based company reported a net profit of Rs 506 crore in the quarter on a sequential basis. Among other brokerages, Bank of America and Goldman Sachs have a 'buy' view on the stock, while Kotak Institutional Equities has an 'add' call and Nuvama has initiated coverage with a 'buy' rating.

Berger Paints has broken out from a falling trendline on weekly charts, suggesting room for the stock to retest levels closer to its 52-week high of INR710. The stock price may be down by around 9% from its 52-week high, but has recovered by more than 20% since hitting a 52-week low of INR527 on 3 February 2023. The positive momentum has helped Berger Paints breach its 200-week moving average and reclaim falling trendline resistance on the weekly charts. Experts suggest the stock represents a buying opportunity in the range of INR640 to INR630, and further upside potential up to INR700 in the next month.

Rail Vikas Nigam (RVNL) reported a consolidated net profit of Rs 359.3 crore, down 5%, in Q4 FY21 compared to Rs 378 crore in the year-ago period. The company's revenue from operations during the January-March quarter fell 11% to Rs 5,719.8 crore YoY. The board recommended a final dividend of Rs 0.36 per share for FY22-23, payable within 30 days from the date of approval. RVNL's shares fell 4.6% to Rs 116 in Tuesday's intraday trade on BSE. The average target price of the stock is Rs 130, indicating an upside of 11% from current market prices.

Nifty PSU index has been consolidating for the last 15 years. The index has now witnessed a breakout of this multi-year consolidation on monthly charts. The index is expected to pick up pace once RSI crosses 70 levels. ADX is trading above 24 levels which usually signals a strong uptrend in the making. The index is expected to rise towards 13,500 levels in the next 3-5 years, InCred Equities said.Based on a technical analysis report on the Nifty PSE Index by InCred Equities, 4 stocks can rally up 206% in the 2-3 years of time frame. These stocks include Power Finance Corporation and BHEL. Here's a list:

Real estate developer Sobha's shares surged 10% on the NSE after announcing a 242% YoY jump in Q4FY23 profit after tax to INR 48.6 crore ($6.5m) from INR 14.2 crore in Q4FY22. The Bengaluru-based company's revenue from operations also increased 70% YoY to INR 1,210 crore for Q4FY23. Leading brokerages including Jefferies, Kotak Institutional Equities, Nuvama and ICICI Securities have recommended buying shares in Sobha following the announcement, with sales machinery, cash flows, and an expected rise in approvals for new projects factored in to the revised SOTP-based target price range of INR 679-891 ($9-$12).

Nifty is close to reaching its all-time high due to foreign institutional investors' strong inflows; however, at least seven Nifty50 constituents must rally over 20% to reclaim their previous 52-week highs, including Adani Enterprises and Adani Ports. Gautam Adani's flagship firm, Adani Enterprises, must surge 65% to touch its 52-week high of Rs 4,190. Similarly, Infosys, Cipla, and Hindalco are among the stocks that must rise between 21-27% to reclaim their all-time high levels. On the other hand, Bajaj Finserv is languishing 28% away from its 52-week high level of Rs 1,844.

The Federal Reserve's hawkish outlook on interest rates may increase the likelihood of a "crash landing" in the economy rather than a "soft landing", according to experts. Raising short-term policy rates could lead to problems, which would be "damned if they do and damned if they don't", according to former head of the Reserve Bank of India, Raghuram Rajan. Kashkari of the Federal Reserve Bank of Minneapolis and fellow committee members believe the effects of inflation need to be tightly controlled. Market observers have cited life insurance, private markets and loan funds as areas of concern, although there is little transparency in these sectors.

Chennai Super Kings claimed a record-equalling fifth Indian Premier League title with a five-wicket win over Gujarat Titans in a rain-affected but thrilling summit showdown on Monday. CSK and Indian markets, what is the parallel between them? What will make the markets move higher in June? ET NOW's Managing Editor Nikunj Dalmia explains.

Among Sensex stocks, UltraTech Cement, ITC and HCL Tech were the top gainers, rising over 1% each. Kotak Bank, Titan, NTPC, Wipro, Bajaj Finance and Tech Mahindra also opened higher. On the flip side, Nestle, SBI, IndusInd Bank, Tata Steel, and Asian Paints opened in the red.

Amber Enterprises was given a buy rating by Jefferies with a target price of Rs 3,120, owing to the expected growth of the domestic AC industry. Financial services company Motilal Oswal downgraded AU Small Finance Bank to a neutral buy with Rs 830 target price due to its rising cost of funds likely to impact its margins. JPMorgan remained neutral on Asian Paints with a Rs 3.128 target price.

Sensex drops over 50 points, Nifty near 18,580; Sobha surges 7%, IRCTC falls 3%; NBCC, YES Bank, GMR Airports Infrastructure are some of the gainers in the morning trade.

Indian new-age tech firms such as Paytm and Zomato, which saw their stocks plunge by up to 60% in 2022 causing cumulative losses of Rs 2 lakh crore, could become profitable in the near future, leading to potential as multibaggers over the next decade, according to investors. Some of the firms, including Zomato, have already increased profitability as they look to shift from a growth-at-all-costs mentality to a more sustainable long-term approach. However, experts warn that these companies still face challenges, including increased competition and potentially challenging regulations, which could hamper their profitability in the future.

The stock price of this company has given a multi-month trendline-breakout. The price had formed a higher low before giving an internal trendline breakout, which also resembles an inverse Head and Shoulders pattern. This pattern suggests the start of an uptrend. The volume has started rising gradually after the breakout, which is supportive of the price.

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 IDFC First Bank and RIL while Nooresh Merani has a buy/sell recommendation on Hero Moto and Tata Power for today's trading session. Check out the targets and stoploss.

Indian markets may consolidate on Tuesday following mixed global cues. The Sensex gained over 300 points with Nifty50 closing just below 18600 levels. India VIX rose 3.34% from 11.90 to 12.29 on Monday, indicating some consolidation in record-high index levels amid the start of the new series. Options data reveals a potential trading range of 18300 to 18800 zones, with minor call writing seen at 18700 to 18800 strikes, and put writing at 18400 to 18300 strikes. Several experts recommend short-term trades in select companies.

The Futures Short Position Scan conducted on Monday revealed Aggressive New Short positions had been taken on 5 counters. 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 29

In the Nifty200 pack, seven stocks crossed above their 200 DMA (Daily Moving Averages) on May 29, 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:

In the NSE list of stocks with a market cap of over Rs 10,000 crore, seven stocks crossed their previous 5-year high value at the close on May 29, suggesting bullishness in counters, according to stockedge.com's technical scan data. Take a look

The week started on a positive note for the markets, with the Nifty ending the day with an increase of over half a percent. Despite expectations, the headline index could not achieve a breakout.

Nifty futures on the Singapore Exchange traded 13 points, or 0.07 per cent, higher at 18,703, signaling that Dalal Street was headed for positive start on Tuesday. Here are some stocks which are expected to see some action in trade today.

Bearish reversal scan on the candlestick screener can help in ascertaining stocks where the trend can change to downtrend from an uptrend zone in the future. So, here are 2 NSE stocks that have established a Bearish Engulfing pattern (with m-cap over Rs 1,000 crore) and signify bearish reversal. (Source: StockEdge)

Asian stocks rose on Tuesday despite concerns over the mass of US government debt. MSCI's broadest index of Asia-Pacific shares outside Japan rose by 0.4%, although the index is down 1.3% for the month so far. Longer-dated US Treasuries also rallied as bond traders became more optimistic about a US debt deal suspending Washington's borrowing limit. The deal suspends the debt ceiling until January 2025 in exchange for spending caps and government programme cuts. Despite the positivity, investors are not certain of the economic outlook with the bond market implying a 70% probability of a US recession in the next year.

On the candlestick screener, a bullish reversal pattern helps identify stocks that can convert into uptrend from a downward zone in the future. So, here are 3 NSE stocks that have established an Inverted Hammer pattern and hint at a bullish reversal in the future. (Source: StockEdge)

Indian equity markets began the week by rising due to the positive outlook in global markets and breakthroughs in US debt ceiling negotiations. The S&P BSE Sensex increased 344 points while the Nifty50 settled at 18,598 levels. The consumer durables and metals sectors gained the most, while oil and gas, IT, and energy were the laggards. Among the stocks in focus, Prince Pipes gained 5%, M&M rose by 3.37%, and ONGC fell about 3%. Technical and Derivative Research Analyst at Reliance Securities recommended investors buy Prince Pipes, sell M&M and ONGC.

Jubilant Pharmova has posted a net loss of Rs 98 crore in the fourth quarter ended March. Revenue from operations during the quarter stood at Rs 1,660 crore.

Option data suggests a broader trading range in between 18300 to 18800 zones while an immediate trading range in between 18400 to 18750 zones.

India's foreign direct equity investments during fiscal year 2022-23 were $46.03 billion, down 21.67% from the previous year, according to the Department for Promotion of Industry and Internal Trade. In the January-March quarter, inflows were $9.28 billion, or 41% lower than the corresponding period previously.

Shares declined nearly 2.5% in Monday's trading before recouping most of its losses. The stock eventually closed at ₹968.50, down 0.14% from the previous close. More than 5.6 million shares exchanged hands on the BSE and NSE on Monday, over twice its combined average daily volume for the last month.

Shares rose more than 3% intraday before closing at ₹84.35 on the National Stock Exchange, up 2.7% from the previous close. Most analysts, though, have retained their 'hold' or 'neutral' rating for the shares as they believe that the current valuations factor in most positives for the company.

Banks including the country's largest microfinance lender, Bandhan Bank, account for about 45% of the sectoral bad loans, industry sources said. Banks account for about 34% of the microfinance loan outstanding of Rs 3.52 lakh crore. "There has been a substantial reduction of NPAs in the overall microfinance portfolio during the quarter. The reduction seems to be due to improved collection of past dues and bad loans write-off," Sa-Dhan executive director Jiji Mammen told ET.

The Securities and Exchange Board of India (SEBI) may negatively impact India's mutual fund sector with its proposal to review total expense ratio (TER) regulations, according to brokerage Nuvama. The sector's net profitability could fall by up to 27% from listing asset managers' 2024-25 net operating profits due to changes potentially increasing annual fees to include items such as securities transaction tax (STT) and brokerage.

The new move is to ensure index constituent's liquidity and ease of index replication by passive funds, the exchange said in a circular. Nifty Next 50 currently represents the balance of 50 stocks from the Nifty 100 index after excluding the Nifty 50 stocks.

A bench of Chief Justice Subhash Chandra Sharma and Justice Subramonium Prasad rejected the plea by lawyer-activist Ashwini Kumar Upadhyay, saying "the present PIL is devoid of merits".

Chief executive Rajiv Sabharwal said the lender will look to add more than 50 branches each year after growing the network three-fold to 438 branches in the last 24 months.

In a disclosure filed with the stock exchanges on March 10, ICICI Bank had said that it had received an extension from the Reserve Bank of India (RBI) for divesting its shareholding in ICICI Lombard General Insurance Company Limited.

The MD & CEO is expected to function under the overall supervision, direction and guidance of the board and at the same time, maintain independence in performance of duties. At times, however, we have noticed the dominance of CEOs in board discussions and decision making.

Benchmark indices rose to their highest level in nearly six months led by the financials, with the Sensex briefly surpassing the 63,000-mark before trimming some of its gains.

Jefferies Financial Group Inc. last week raised the weighting of Indian stocks in its Asia Pacific ex-Japan model portfolio to reflect the disappointments in the Chinese stock market after a strong rally earlier this year.

Shares of the Mumbai-based automotive company ended at ₹1,325.05 apiece, up 3.7% from the previous close. It was the top index gainer and among the best performers in the NSE 500 universe.

Experts suggest Equitas Small Finance Bank's stock can reach Rs 100 in 3-6 months. The stock has rallied more than 50% in the last six months, hitting a fresh high of Rs 85.80 in intraday trading on May 29. Technical analysis indicates the stock has witnessed a 2-year breakout and has confirmed a breakout on Heikin Ashi candles.