Prices of industrial metals rose on hopes of a recovery in demand from top consumer China and amid support from global mining supply disruptions

"Revenues of Tier-1 IT came in above expectations, with the exception of Wipro. This beat was aided largely by an increase in pass-through revenues. Revenue growth has slowed down to low-teens across companies and should move down further in the subsequent quarters," said brokerage Kotak Institutional Equities.

According to the letter, the government reiterated dissent to the "related party transaction". "We would urge the company to explore other cashless methods of acquisition of these assets."

Realising the severity of the hit to its image, Adani Group has brought in Kekst CNC as a global communications advisor, according to Bloomberg News. The public relations firm co-headquartered in New York and Munich, is known for its work with other corporate blow-ups in recent years.

Macro environment in which auto ancillaries companies operate have turned favourable after a long period of time. In the second half of 2018 it was the NBFC crisis which hit the growth of some segments of the automobile industry, which in turn led to slower demand for auto ancillary units. The lockdown during covid and finally there was a sharp spike in steel and other commodity prices. All this is behind now and Minda corp taking a stake in Pricol has brought the sector back to limelight. We take a look at companies where analysts are projecting further upside in the next 12 months. The list is based on upside estimated by the analysts, with the highest potential stock coming on the top of the list.

If they are minor in nature, then it is unlikely to hurt sales from the unit. However, if the regulator found major deviations from good manufacturing practices norms, then the resolution process could be longer and delay product launches from the facility.

Motherson said the acquisition will enable it to increase customer proximity, add competency in assembly operations, automation and managing complex logistics, and also increase exposure to EV programs.

Brokerage firm Morgan Stanley remained overweight on Shriram Transport, Motilal Oswal has a buy on Tata Motors, Nuvama Institutional Equities retained its buy stance on Nestle India and Prabhudas Lilladher maintained its buy stance on Bharat Forge.

In October 2020, the CCEA gave its 'in-principle' approval to the demerger of the Nagarnar steel manufacturing unit from NMDC and strategic disinvestment of the resulting entity by selling the entire stake of the central government. Last year, NMDC had approved the demerger of NMDC and NMDC Steel.

Even though domestic markets witnessed positive trends during the last week, benchmark indices ended in the red on Friday, bogged down by the weak trend in overseas markets. Due to the lack of any major triggers in the domestic market, global trends are likely to dictate the equities' direction going forward. Here are select stock picks that can rally up to 12% in the near term.

From the Sensex pack, Wipro, Nestle and Bajaj Finance were among the top losers. Meanwhile, Eicher Motors, Hindustan Unilever, Power Grid, Bharti Airtel and UltraTech Cement were trading higher.

While earnings have seen a sharp improvement from the year-ago period in Q3, analysts believe that the pain on the inflation front is not fully done. Moreover, there are growing concerns over a global slowdown.

Sensex rises over 100 pts, Nifty above 17,950; Cipla sheds 5%, IDBI Bank gains 2%; metal, pharma stocks fall most.

Options data suggests a broader trading range in between 17700 to 18300 zones while a shift in immediate trading range in between 17800 to 18100 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

Its stock price has been in a corrective phase and under constant decline. However, for the past few sessions, it has been under consolidation. It has formed a bullish Marubozu candlestick, which hints that the positive movement of price is not yet over and there is room for a further upside. A rise in volume also indicates that the upside move can be sustainable.

The markets on the last day of the week continued in a sombre mood, with the headline index Nifty50 closing the day with a loss. Despite the declines, stock-specific opportunities continue to rise.

Nifty futures on the Singapore Exchange traded 26.5 points, or 0.15 per cent, higher at 17,963.50, signaling that Dalal Street was headed for a positive start on Monday. Here are some stocks which are expected to see some action in trade today.

As Nifty stays in corrective mode, judged on the basis of price earning (PE) ratio some stocks may start to look cheap. More often than not, relying on PE may lead to wrong investment decisions given the huge difference in what is value and what looks cheap due to one financial ratio. The PEG ratio is a better indicator than many other ratios especially P/E which is followed by the majority. The selected list applies different algorithms for all BSE and NSE stocks. For the purpose of this article, we have taken only NSE stocks into consideration.

ET Now spoke to various experts and here's what they have to recommend for today's trading session. Nooresh Merani has a buy/sell recommendation on ONGC and Wipro while Kunal Bothra has a buy/sell recommendation on Coal India and RIL for today's trading session. Check out the targets and stoploss.

The Adani Group has also engaged American law firm Wachtell, Lipton, Rosen & Katz to fight back against the short seller’s claims, the Financial Times reported citing unnamed sources. Wachtell is one of the most expensive US law firms and has experience in defending clients facing attacks by shareholder activists.

Minutes of the Fed's last meeting due on Wednesday should add colour on the deliberations, though they have been superseded somewhat by barnstorming numbers on January payrolls and retail sales.

Hindustan Unilever Ltd (HUL) has entered into definitive agreements with Uma Global Foods to divest its “Annapurna” and “Captain Cook” brands in the “atta and salt” categories of the foods business for Rs 60.4 crore.

One of the significant disclosures is identifying 'beneficial owners,' which are typically large investors in the fund. However, if none of the investors has a big share of the fund corpus, key persons in the investment management entity of the fund are named as SMOs. These are people Sebi, with which all FPIs are registered, can reach out to if there are irregularities and compliance lapses.

In its last monetary policy, RBI projected the GDP growth at 7% for FY23 and 6.4% for FY23. The central bank expected inflation to be at 6.5% for FY23, higher than its upper tolerance band of 6%. The International Monetary Fund projected global growth at 2.9% in 2023 and 3.1% in 2024.

The UAE India Business Council - UAE Chapter (UIBC-UC) was launched on Saturday by Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, in the presence of Ambassador of India to the UAE, Sunjay Sudhir, Consul General of India in Dubai Aman Puri and founding members of the UBIC-UC.

Indicative bids from Nagpur-based Sarda Energy & Minerals, Delhi-based Jindal Power and the Adani Group are much lower and these bidders are no longer considered strong contenders to take over the plant, people familiar with the matter said.

​One can focus on L&T, ABB, Cummins India, ONGC, Oil India, UltraTech, JK Cement, Tech Mahindra, and Mphasis. Traders can initiate a moderately bullish strategy with reduced premium outflow and a lower breakeven point — Bull Call Spread of March 2 expiry to buy one lot of 18,000 Call at Rs 137 and simultaneously sell one lot of 18,300 Call at Rs 35, with possible maximum loss of Rs 5,100.

In terms of Retail-Agriculture-MSME (RAM) loans, BoM has recorded the highest growth of 19.18 per cent, followed by Punjab & Sind Bank with 19.07 per cent and Bank of Baroda with 18.85 per cent on an annual basis.

"Completely nonsense," he said on the Adani-Hindenburg row impacting India's attractiveness as an investment destination. "India is too big a country today. So this story will die down. Investment will not be hurt."

"India has a good opportunity to persevere with a high growth rate because of the reforms undertaken during the last eight years. We will manage to grow at 6 per cent in 2023-24," he said. According to Kumar, there are several downside risks, especially in the context of an uncertain global situation.

Daily cash market average volumes of non-institutional investors, mainly retail and high net worth individuals, were at ₹22,829 crore in January 2023, the lowest since March 2020 and 61% below the peak of ₹58,409 crore in February 2021, according to exchange data. Between then and now, the share of retail investors in total has shrunk to 44% from 66%.

The L&T stock witnessed some selling pressure in the run-up to the Budget 2023 on 1st February but stabilised above the 50-DMA which acted as crucial support. It formed a Bullish Engulfing candle on the daily charts on 17 February which suggests that there is a high probability of a change in the trend. Traders need to check where the bullish engulfing pattern has emerged.

Bloomberg data showed the 20-day rolling average of net long contracts on the Nifty futures dropped to a multi-month low of 40,314 in the first half of February 2023, while their net short contracts climbed to 105,943-the highest since November 2022. Long-term average of net long contracts on a 20-day rolling basis is around 69,741 lakh contracts and it has been consistently coming down since December 2022.

“L&T has been forming higher lows from the last eight months which indicates that base is gradually shifting higher in the stock and all the dips are being utilized for buying,” Shivangi Sarda, Analyst, Derivatives and Technical Research, Motilal Oswal Financial Services Ltd, said.

The US personal consumption expenditures price index is forecast to rise 0.5% in January from a month earlier, the largest advance since mid-2022. The median estimate in a Bloomberg survey of economists expects a 0.4% advance in the core measure, which excludes food and fuel and better reflects underlying inflation

Adani Green’s stock price has fallen almost 70% this year, while its debt has also slumped. The company said on Feb. 7 it had won the backing of investors after reporting third-quarter net income that more than doubled from a year earlier. Adani Green CEO Vneet S. Jaain said the results proved the company has a “robust capital management program with leverage well aligned with the business model.”

Indian indices amid prevailing weak global cues ended in the red in Friday’s session. Primarily, the unfavourable combination of higher-than-expected inflation and a stronger job market in the US market dragged key indices lower. Nifty at the close settled at 17944, down 0.51%, while Sensex pared 0.52% and settled at 61,002.5. There was a broad-based sell-off, with all of the pockets ending in the red.“Despite the correction, on a weekly basis, the Nifty has managed to close in the green which is a bullish sign. The daily momentum indicator still has a positive crossover and, thus. this dip should be bought into. We shall continue to maintain our positive outlook on the Nifty for a target of 18300 from a short-term perspective,”Jatin Gedia, technical analyst, Sharekhan by BNP Paribas, said.Here are stock recommendations for Monday:

The smallcap company, with a market cap of Rs 182.66 crore, provides diversified financial services such as end-to-end lending, financing and wealth management solutions. The company offers customized solutions in areas of personal and business loans, loan against property, gold loan, digital lending, micro finance, corporate finance, mortgages, capital market based lending and many other financial areas.

As the markets began to recover from the Adani shock, the flows from FPIs also improved, suggesting their renewed interest in the prospects of the Indian equity markets," Himanshu Srivastava, Associate Director - Manager Research at Morningstar India, said

As the markets began to recover from the Adani shock, the flows from FPIs also improved, suggesting their renewed interest in the prospects of the Indian equity markets," Himanshu Srivastava, Associate Director - Manager Research at Morningstar India, said

As the Nifty stays in a volatile yet range-bound mode, besides fear of further correction, many investors, especially the ones sitting on cash are confused about what they should do with their existing stocks – buy the dip or not. For all those investors confused about whether to buy and what to buy, ET screener powered by Refinitiv’s Stock Report Plus lists stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy".

The exposure to the Adani group once again brought limelight back on the banking sector. There were some tremors felt in the PSU banking space, however the private sector banks did not see any major impact. This does not mean that private sector banks like ICICI, HDFC and Axis have not seen their share of troubles. For the last four years, the street readjusting the valuations as large private sector banks went through a phase change at the leadership level.

Just eight months back, when interest rates on fixed deposits were hovering around 5%, it made sense to own stocks where dividend yield was then 7% . Now with interest rates on FDs hovering above 7%, buying a stock with a 7-8% dividend yield may not appear the best decision. In such conditions, investing in stocks where the dividend yield is not even 5%, would appear to be even worse. But if dividend yield of 4-5% is combined with probability of capital gains, based on long term track record, it is worthwhile to bring that stock on your watch list.

While Reliance Industries, ICICI Bank, HDFC, ITC and Bharti Airtel were the gainers from the top-10 pack, TCS, HDFC Bank, Infosys, Hindustan Unilever and SBI were the laggards. The market valuation of Reliance Industries rallied Rs 70,023.18 crore to Rs 16,50,677.12 crore. ITC's market capitalisation (mcap) jumped Rs 14,834.74 crore to Rs 4,75,767.12 crore.

The US currency also had appreciated almost 8% versus most currencies and 10% versus India, which in 2023 so far has been stable. The DXY correction of 10% from its peaks of 115 also gives the Global and Indian investor reason to cheer.

Now, amid rising interest rates, persistent inflation and warnings of a potential recession on the horizon, research from S&P Global Ratings is underscoring just how far from reality the earnings projections are proving to be

"While global cues could act as the major trigger for domestic equities in the near-term, the Nifty 50 is likely to remain resilient due to reasonable valuations and India's macro stability," said Narendra Solanki, head of equity research at Anand Rathi Shares and Stock Brokers. Here are the factors that will drive markets in the week ahead.

The nine stocks are Nuclear Software Exports, Finolex Cables, Waaree Renewable Technologies, Chaman Lal Setia Exports, PG Electroplast, Ganesh Benzoplast, WPIL, Zen Technologies, and Apar Industries. Nuclear Software Exports hit its 52-week high on February 16. The stock has rallied 39% in the past week. So far this year, the shares have surged 42% on a year-to-date basis.

On the daily chart, Nifty has closed just a notch below the crucial 100-DMA which is placed at 17,967. With 50-DMA placed at 18,033, Nifty has multiple resistances to navigate between 17,950-18,050 levels on both daily and weekly charts. In other words, some meaningful up move shall happen only after Nifty moves past 18,000–18,100 levels convincingly.

Today, India’s key challenges are selling from FIIs, a high-interest rate, elevated inflation, and slowing earnings growth. We feel that most of the issues are getting factored into the prices. If the cautiousness continues in the short-term, we can presume that the worst is over, limiting further price corrections though valuation moderate.