Shares of GRM Overseas have provided investors with significant returns over the past decade, going up 10,433%. If an investor had invested INR 10,000 in the stock ten years ago and maintained that investment, it would now be worth INR 10 lakh. In the last five years, the stock has given returns of 1102%, and in the last three years, it has surged 2467%. However, analysts say the stock currently displays a bearish trend and advise investors to either hold short positions or avoid buying.

Sun Pharmaceutical Industries has proposed an all-cash acquisition of all the shares of Taro Pharmaceutical Industries through a reverse triangular merger at a price of $38 per ordinary share. Sun Pharma said that the proposal represents a premium of 31.2% over Taro's closing price on May 25, 2023. After the deal, Sun Pharma will have a 100% holding in the company. The all-cash transaction will be consummated in the form of a reverse triangular merger under the Israeli Companies Law, 1999. The deal is subject to fulfillment of binding contractual documentation and regulatory approvals.

The US debt ceiling of $31.4tn, nearing the country's current debt of $31tn, is arousing fears of a global economic crisis. However, the Debt Ceiling has never been breached and has been increased 78 times since 1960 to cover the deficit. The US government has managed to come to a deal with Congress each time, and investors are advised to not be influenced by the exaggerated media headlines. Nifty rose by 295.95 points this week, closing at 18,499.35, and the market has now shifted its support zone from 18,200 to 18,300.

Nifty futures showed bullish optimism with high rollover rates in May. Nifty Bank saw lower rollover numbers, signaling investors are booking profits. Auto, Cement, Pharma, PSU Banks and Realty sectors are more likely to perform better in the next series, with Grasim and Berger Paints receiving the highest rollover, ONGC, ICICI Lombard and Hero Motor having the least. The Nifty's upside potential could reach 18,800 to 19,000 in the coming period. FIIs remain confident in the Indian markets, while RIL's rally was influenced mostly because of a consolidation breakout and double-bottom formation.

To much of the pundit class, the situation is replete with risk: what happens to the market when the hype-cycle around AI ends? Peter Tchir, head of macro strategy at Academy Securities, sees it differently. Piling into a few heavyweights is just investors “being rationally selective.”

The S&P 500 is up more than 9.4% for the year to date and now trades at nearly 19 times its forward earnings, at the high end of its historical range. Megacap technology and growth stocks, which benefit from lower interest rates, have led the market's advance.

The more precise estimate buys White House and congressional negotiators slightly more time to finalize a deal to raise the statutory ceiling on the federal government's borrowing capacity.

The U.S. government will spend $936 billion on non-defense discretionary spending in 2023, the Office of Management and Budget estimates, money that goes to housing, education, road safety and other federal programs.

China's industrial firms saw an overall 20.6% drop in profits from January to April compared to the same period last year, according to data from the National Bureau of Statistics. The fall was due to margin pressures and soft demand amid the country's faltering economic recovery. The grim profit readings come after April economic indicators, including industrial output, retail sales and property investment, suggested China's recovery is slowing down. Foreign firms' profits slid 16.2% and private-sector firms' profits plunged 22.5% in January-April. In response, China's government will focus on restoring and expanding demand, NBS statistician Sun Xiao said.

"After consolidating for the last few days, Nifty has managed to surpass the resistance of 18450 zones. We expect this momentum to continue and Nifty to touch its previous lifetime high in the coming weeks. The index is now just 380 points or 2% away from its lifetime high. With the result season nearing its end, the focus will now shift to macro data, US debt negotiations and upcoming central bank policy meetings," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

With the U.S. debt-ceiling problem temporarily resolved, investors have started looking at other risks including Federal Reserve rate hikes. The Fed may resume its rate-hiking cycle at its June 13 meeting. Since the Fed has kept rates low, investors have bought riskier assets, and the S&P 500 is up almost 10% this year and now trades at nearly 19 times its forward earnings. Tech mega-cap growth stocks, which benefit from lower interest rates, have led the equity market's advance. With high inflation, Congress is expected to cap spending on government programs, combined with the possibility of the Fed increasing interest rates to cool inflation, which could result in a US economic recession despite ongoing strength in the labor market, warns an asset manager Nuveen.

The current snowballing of the artificial intelligence (AI) craze is propping up markets like the S&P 500 and Nasdaq 100, as investors pile into the seven largest tech stocks. The big seven - Nvidia, Microsoft, Alphabet, Facebook, Apple, Amazon, and Tesla - added $454bn in value over five days, allowing them to outperform other indexes. However, these valuations are beginning to look stretched with a 35 P/E multiple, 80% above the market. Despite this, experts suggest that the AI boom could last beyond Nvidia and lead to more opportunities, giving defensive havens to troubled investors.

"After consolidating for the last few days, Nifty has managed to surpass the resistance of 18450 zones. We expect this momentum to continue and Nifty to touch its previous lifetime high in the coming weeks. The index is now just 380 points or 2% away from its lifetime high. With the result season nearing its end, the focus will now shift to macro data, US debt negotiations and upcoming central bank policy meetings," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

The Dow Jones Industrial Average ended a five-day losing streak, while the Nasdaq Composite Index and S&P 500 closed at their highest levels since August 2022, with the S&P 500 above 4,200 points.

Edelweiss Alternative Fund acquired the loans for ₹650 crore, one of the people said.Edelweiss Alternative Fund and Goldman Sachs did not respond till press time Friday to ET's request for comment.

The FMCG index has rallied 11% in the last three months against a 6% gain in the Nifty. ITC contributed to 57% of the rally in the FMCG index in the past three months, while HUL, Varun Beverages, and Nestle contributed a little over 27%.

Term deposit rates have gone up by about 200 basis points in the last few months as banks have had to catch up with the stronger credit growth. One basis point is 0.01 percentage point.

The UAE-based promoters own 41.88% and FIIs 38.63% in the company. As per the reports, Aster's investors Olympus Capital, which has a 19% stake and Mauritius-based investment firm Rimco, with a 12% stake, are considering the sale.

The shareholders’ resolution will come up for voting at Meta’s annual shareholder and board meeting scheduled for Tuesday, May 31.

The Sensex surpassed the 62,000-mark with a breakout rally underpinned by the optimistic mood in global markets. The index closed at 62,501.69, up 629.07 points or up 1.02%, from the previous close. The Nifty briefly surpassed 18,500 before closing the day at 18,499.35, up 178.20 points or 0.97%.

Tata Motors and M&M had carved out their EV arms into separate subsidiaries and raised significant funds through stake sales in 2021 and 2022, respectively, at handsome valuations.

US hedge fund Davidson Kempner (DK), Canyon Capital Partners and Varde Partners have also agreed to a three-year private credit line, with each contributing $200 million. Canadian pension fund Omers is also expected to join with $100 million while the rest will be distributed among smaller funds.

Tencent Cloud Europe BV on Friday offloaded over 2 per cent shares of Policybazaar's parent firm PB Fintech for Rs 562 crore through an open market transaction. According to the bulk deal data available with the BSE, Tencent Cloud Europe BV sold 94,16,250 shares, amounting to a 2.09 per cent stake in the firm

Options trader P R Sundar settled a case with markets regulator Sebi by returning the advisory fee and disgorging over Rs 6 crore.The case relates to PR Sundar and Mangayarkarasi Sundar, promoters of Mansun Consulting, offering investment advice without the necessary registration from the regulator.

Index mutual funds provide exposure to equities through tracking a selected equity index with low management fees. Although they offer lower returns, risk-averse investors may consider them. Five funds that have yielded returns of over 20% within a 3-5 year period are Motilal Oswal Nifty Smallcap 250 Index Fund, Bandhan Nifty 50 Index Fund, Motilal Oswal Nifty 50 Index Fund, HDFC Index S&P BSE Sensex Direct Plan-Growth Fund, and Nippon India Index Fund S&P BSE Sensex Plan Direct-Growth Fund. Each fund has varied minimum investment requirements, management fees, and AUM.

Options trader P R Sundar settled a case with Sebi by returning the advisory fee and disgorging over Rs 6 crore. This was related to Mansun Consulting, of which he is a promoter, offering investment advice without registration. Sebi found various complaints about Sunar running a website and offering packages for advisory services, which were communicated to clients. Upon inquiry, recommendations provided by Mansun were found to fall under the category of "investment advice".The entities agreed to pay Rs 46.8 lakh and a disgorgement amount of Rs 6.07 crore, along with refraining from dealing in securities in India for a year.

Nucleus Software Services has announced a final dividend of ₹10 per equity share for the financial year 2022-23, subject to shareholder approval at the annual general meeting. The company's Q4 profits rose by 76%, driven by a growth in revenue from operations of 22% to ₹206 crore, as well as an EBITDA growth of 73% to ₹82.48 crore. Revenue for the financial year ending in March 2023 increased by 27% to ₹634.46 crore, while profit more than tripled to ₹128 crore. The company plans to focus on developing solutions for the BFSI sector in the coming year.

Christopher Wood, Jefferies’ Global Head of Equity Strategy, has added Zomato to his India and global long-only equity portfolios. The weight of the stock in the India portfolio will be 4%, with a 2% increase in REC. Zomato is replacing HDFC Life Insurance, which has been removed. Wood has also added Zomato and SBI Life Insurance to his Asia ex-Japan portfolio, removing HDFC Life Insurance and Standard Chartered. Jefferies will pay for the global long-only equity portfolio's inclusion of Zomato by shaving off investments in Alibaba and IVZ each by 2% points.

Rising consumer spending and inflation in the US support the case for the Federal Reserve to continue monetary policy tightening and raise interest rates. Despite the likelihood of a pause to the current rate hike campaign, the strong data has prompted some traders of interest rate futures to believe the Fed will still raise the target range for the benchmark rate by a quarter of a percentage point at June's meeting. Inflation remains stubbornly high, currently at 4.4% YoY, while core prices are up 4.7% compared with 4.6% in March.

The Dow Jones Industrial Average rose 30.85 points, or 0.09%, at the open to 32,795.50.

The S&P BSE Sensex and S&P BSE Bankex derivatives contracts relaunched by the Bombay Stock Exchange recently, saw a turnover of INR 17,345 crore ($2.3bn), with total open interest at 20,700 contracts. BSE had reintroduced its Sensex and Bankex futures contracts and a Friday expiry on May 15 to boost derivative trading at the country's premier bourse. The revisions aimed to provide a wider range of investment options based on market feedback.

In Friday's trading session, the Sensex benchmark index experienced a notable surge of 629 points, reaching a milestone of 62,501. Consequently, four stocks within the BSE auto index achieved new 52-week highs. The 52-week high is regarded as a significant technical indicator by 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 preceding 12 months.

India's markets regulator, the Securities and Exchange Board of India (SEBI), is planning to reduce compliance requirements for passive investment funds, such as index funds and exchange-traded funds, through lightened mutual fund regulations. The move seeks to foster growth, lower costs and improve transparency for investors. SEBI has also revised the requirements for sponsoring a mutual fund, allowing private equity funds to become sponsors without a mandatory profit track record. Additionally, the regulator has implemented prudential regulations on open-ended mutual funds, especially debt funds, to enhance liquidity in the debt market and temper market risks.

Indian market closed in the green for the second consecutive day, with gains over 1% on benchmark indices. Buying was seen in IT, FMCG, metal, and realty stocks, whereas some profit booking was seen in utilities, power, and oil & gas stocks.

Adani Ports and Special Economic Zone will release its Q4 earnings on May 30 to declare the audited financial results for the quarter and year ended March 31, 2023. The company said it will discuss the possibility of recommending dividends for the financial year 2022-23 during the board meeting. Adani Ports' stocks closed 0.26% higher in BSE trade on Friday. The stocks fell over 11% year-to-date and over 17% in the past six months. As per Trendlyne data, the average target price of Adani Ports shares is Rs 834 per share with a 15% upside from current market prices.

Nifty saw a bullish candle formation on Friday and broke out of a consolidation move, but must maintain above 18,442 zones for upward movement, according to Chandan Taparia of Motilal Oswal. Meanwhile, option data suggests a trading range between 18,200 and 18,800 zones. Technical analysts Jatin Gedia and Amol Athawale predict positive short-term outlooks with key levels acting as trend deciders. Rahul Ghose, Founder & CEO of Hedged, advises buying opportunities for Nifty, which may have short-term resistance at 18,700 and 18,800 levels and already sees an increase in options OI for June month expiry.

Mahindra & Mahindra has recommended a dividend of Rs 16.25 per equity share, which is 325% of its face value. The decision was made during a board meeting to approve the company’s quarterly results. The Q4 result showed a 22% YoY rise in standalone net profit to Rs 1,549 crore and revenue jumped 31% to Rs 22,571.37 crore. The company achieved an all-time high profit of Rs 10,282 crore on a consolidated level in FY23, driven by successful automotive launches, farm equipment growth, strong financial services, and monetisation/partnerships. CEO and MD Anish Shah said it was a “blockbuster year” for the group.

The Nifty crossed the 18,500 mark for the first time this year, boosted by heavyweight Reliance Industries, which helped Sensex rise by 629 points while Nifty went up 1%. The market capitalisation of all listed companies on BSE also rose by Rs 2.24 lakh crore to Rs 282.57 lakh crore. Medplus gained 16% after reporting a two-fold jump in its Q1 profit, whereas Page Industries fell 9% due to weak demand. Despite US debt default fears, Asian markets were cautiously higher, with Japan leading gains.

ETMarkets is hosting a day-long webinar on June 3 with leading women traders to help traders navigate the market charts and develop effective risk management techniques. The event features sessions on the identification of multibaggers, momentum-based trading, basics of technical analysis, risk management, and different trading strategies. The webinar aims to help participants build a solid foundation in technical analysis, identify market trends, optimize entry and exit points, and make well-informed decisions.

Among the Sensex stocks, RIL, Sun Pharma, HUL, HCL Tech and Wipro were the top gainers. On the other hand, only Bharti Airtel, Power Grid Corp, and NTPC closed in the red.

Closing Bell: Sensex extends gains to day-2, rallies 638 pts; Nifty tad below 18,500; Med Plus surges 16%, Star Health tanks 8%

Aptech's board approved an interim dividend of Rs 6 per share and a bonus issue of equity shares in the proportion of 2:5 for investors. The dividend payment is subject to shareholder approval, while the bonus issue will be issued out of the company's capital redemption reserve. Bonus shares are additional shares fully paid for by the firm to its existing investors, increasing the stock's liquidity. Aptech provides computer training and multimedia services, and its shares have delivered multibagger returns, gaining 136% in the last year and 58% this year.

ETMarkets.com has identified six stocks that demonstrate favorable financial indicators and have attracted attention from institutional investors like FIIs and MFs. These stocks have consistently achieved a sales growth rate exceeding 10% in each of the last four quarters of FY23. Moreover, companies that incurred net losses in any of the past four quarters of FY23 have been excluded from the selection process. The chosen stocks have also been filtered based on the condition that FIIs and MFs have increased their stake by at least 1% (100 bps) in the March 2023 quarter compared to the previous quarter. It is worth mentioning that most of these stocks have witnessed a reduction in promoter stakes during the last quarter.The performance of these stocks in terms of share price has been varied, with three of them yielding negative returns over the past year. However, the remaining three have generated positive returns, including two that have become multibaggers by gaining 25-175% (Data Source: ACE Equity).On a positive note, most of these stocks have more strengths than weaknesses based on SWOT Analysis, as per Trendlyne data.

The Competition Commission of India (CCI) has approved the acquisition of additional Series E compulsorily convertible preference shares of Acko Technology & Services by Multiples Private Equity Fund III and CPP Investment Board Pvt Holdings (4). Acko is engaged in providing technology and outsourced services while also providing all-round damage protection plans for electronic devices such as mobile phones and facilitating the sale and purchase of new and used vehicles through its platform. The target (through its affiliates) is also involved in the provision of non-life insurance services in India. The companies involved belong to the Multiples and Canada Pension Plan Investment Board groups.

New Delhi-based Servotech Power Systems' board of directors unanimously approved a 2:1 equity share split. The firm aims to improve share liquidity and encourage wider participation in the stock market. Technical data portray the company trading over eight moving averages, with a bullish MACD indicator and an RSI of 73.9.

Nine years back, on May 26, 2014 - Narendra Modi took an oath and became the prime minister of India. And with that BJP-led Modi govt came into power as well. A lot has changed in the last nine years in terms of technology, the way our country used to function, infrastructure and even the stock markets. PM Modi's influence on desi and videshi investors in the past nine years reflects in the Indian stock market performance.

Experts suggest that Max Healthcare's recent rally may not be over, despite failing to maintain a fresh record high. Traders could buy the stock at present or on dips towards Rs 450-500 with a potential target of Rs 750-1,000 in the next six months, they say. On the weekly charts, the stock broke out from a trendline and has been making higher highs and higher lows for the past five weeks. Although some consolidation could occur as it trades around overbought levels, the Relative Strength Index is 78.2 and the MACD is bullish.

Analysts are forecasting a comeback of Utilities stocks. IGL is back on the radar and so is NTPC. For the purpose of this report, we have selected stocks wherein the count of analysts is at least 15 and the average stock report plus score is a minimum of 8. The reason for having a minimum count of analysts for a particular sector is because higher coverage by analysts indicates higher institutional interest in individual stock. The list is based on upside estimated by the analysts, with the highest potential stock coming on the top of the list.

VIL recorded the first ever annual growth in revenue from operations post merger. The company's consolidated revenue from operations grew 9.5 per cent to Rs 42,177.2 crore from Rs 38,515.5 crore a year ago.

Life Insurance Corporation of India (LIC) has reported a standalone net profit of Rs 13,428 crore for Q4 FY23, a 466% increase YoY, prompting brokerages including Motilal Oswal, Axis Securities and JM Financial to recommend "Buy" on the stock, while Emkay has maintained its "Hold" rating. LIC's net premium income fell 8% to Rs 1.31 lakh crore during the March quarter, compared to last year. The company's first-year premium for the period totalled Rs 12,811 crore, down 12% YoY. Its net commission rose 5% to Rs 8,428 crore, while the full-year profit fell 10% to Rs 36,397 crore.