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PremiumShare Market Updates: Indian shares ended in the red despite Metal stocks gaining after markets cheered China's approval of a mega sovereign bond issue as a sign of stimulus. IT and Finance stocks dragged the most with most sectors ending in the red.
Shares in Asia pushed higher after the government stepped up support for China’s economy and stock trading, buoying optimism. Metals rallied.
Oil steadied after falling more than 6% over the previous three sessions on signs the Israel-Hamas war will remain contained for the time being.
The 10-year Treasury yield eased on Tuesday after hitting its highest level since 2007 a day before and was at 4.82%.
The Indian stock market continued its downward slide despite positive global cues and a decent start. The first half witnessed the indices playing around the previous close but tumbled sharply in the second half to close around 0.8% down.
BSE S&P 30 Sensex ended 522 points down to close at 64,049, while the broader Nifty 50 closed at 19,122, a drop of 160 points. Thirteen of the 15 broad-based sectoral indices closed in the red.
Metals gained 1.5% at the start after top consumer China approved a trillion-yuan sovereign bond issue to improve infrastructure; however, fell sharply in the second half to end with just minor gains. PSU Bank also ended in the green. All the other indices ended in the red with Finance, IT, Realty and Media witnessing massive sell-off.
Tata Steel, Maruti Suzuki, and SBI topped the charts. NTPC, Infosys, Bharti Airtel, ICICI Bank and Tata Motors were among the biggest laggards and bottomed the charts.
Most markets rose Wednesday after China unveiled plans for $137 billion in extra debt to boost infrastructure spending, while oil extended losses on hopes that Israel will scale back its plans for a Gaza ground invasion.
Japan's Nikkei share average rose, continuing its rebound from a three-week low, as it tracked overnight gains on Wall Street, while Beijing's 1 trillion yuan ($136.8 billion) fiscal package provided an additional tailwind. The Nikkei ended the day up 0.67%.
Chinese stocks rose after the country's top parliamentary body approved an additional 1 trillion yuan ($137 billion) sovereign bond issue to support the economy.
China A-shares had a mild rebound from 4-1/2-year lows. Blue-chip CSI 300 Index rose 0.5%, while the Shanghai Composite Index climbed 0.4%. In Hong Kong, the Hang Seng Index gained 0.6%, snapping a four-day losing streak. The Hang Seng Tech surged 2.2%.
European shares shed as investors digested a slew of mixed earnings reports from the region, while weakness in energy firms on lower crude prices added to the declines.
UK's FTSE 100 slipped as a rise in industrial mining stocks was offset by a drop in shares of Reckitt after the company missed quarterly sales expectations.
The board of directors at BCL Industries Ltd has established a record date for an upcoming stock split. Designating the 27th of October, 2023, as the record date, the BCL Industries board has previously announced a stock subdivision in a 1:10 ratio. Consequently, one stock of the company will be divided into ten stocks. (Read More)
In the first half of 2023–24, 31 Indian corporates raised ₹26,300 crore through main board IPOs, a drop of 26% from the ₹35,456 crore raised by 14 IPOs during the same time in 2022–23, as per Prime Database Group's report. Let's take a look at the key highlights from the report. (Read More)
Though we don’t expect them to flare up to FY23 highs, recovering demand and OPEC’s supply cuts would keep crude prices high and support upstream companies ONGC and Oil India, said brokerage house Anand Rathi in a recent report. It further added that risk-reward is favourable for this space.
Disturbances due to geo-political tensions, healthy product demand and low stocks would keep refining margins healthy, especially driven by strength in diesel and ATF. This would benefit Indian refiners as diesel and ATF make up over 60 percent of production, stated Anand Rathi. (Read More)
Power Grid Corporation of India, the state-run power transmission company, is scheduled to release its financial results for the second quarter of FY24 on Tuesday, November 7. During the quarterly earnings announcement, the company's board of directors will also declare an interim dividend. The board is set to convene on November 7 to disclose the earnings for the quarter ending in September 2023 and to announce the interim dividend. Additionally, the company has established November 16, 2023, as the record date for the dividend, as stated in a recent release. (Read More)
During Wednesday's trading session, CarTrade Tech observed a nearly 4% increase in its share price, driven by the decision of its wholly owned subsidiary, Sobek Auto India Pvt Ltd, to cease its own C2B operations within the auto transaction business. The day saw CarTrade Tech's share price opening at an intraday low of ₹619.20 per share on the Bombay Stock Exchange (BSE) and later reaching an intraday high of ₹640.70. As of 13:49 IST, CarTrade Tech shares were trading at ₹630.35, marking a 2.30% increase.
According to an exchange filing, the board of directors of Sobek Auto India made the decision to shut down the unit due to the economic challenges faced by the company. Sobek aims to concentrate on the expansion of its Classified division, particularly Olx.in, covering both automotive and non-auto verticals. (Read More)
Wonderla Holidays shares experienced a remarkable surge of 10% in the current trading session, soaring to an all-time high of ₹887 per share. This notable upswing followed the recent acquisition of all essential approvals, clearances, and no-objection certificates (NOCs) from the Government of Tamil Nadu for its upcoming project in Chennai.
Having secured these crucial permissions, Wonderla is now poised to initiate construction on this project. Concurrently, construction efforts on the new Odisha Park are swiftly advancing, indicating positive developments for the company's expansion initiatives. (Read More)
Chinese President Xi Jinping stepped up support for the world’s second-biggest economy, issuing additional sovereign debt, raising the budget deficit ratio and even making an unprecedented visit to the central bank.
The nation’s legislature approved a plan to raise the fiscal deficit ratio for 2023 to about 3.8% of gross domestic product, the official Xinhua News Agency said Tuesday — well above the 3% set in March which the government has generally considered a limit for the nation. The plan includes issuing additional sovereign debt worth 1 trillion yuan ($137 billion) in the fourth quarter to support disaster relief and construction.
China has rarely adjusted the budget mid-year, having previously done so in periods including 2008, in the aftermath of the Sichuan earthquake and in the wake of the Asian financial crisis in the late 1990s. (Bloomberg)
Stock market analysts noted that the Indian stock market displayed signs of purchasing activity today, initially triggered by the 10-year US treasury yield retracting from a 16-year high and falling below 5%. However, the US bond market has once again indicated buying interest, leading the 10-year US Treasury yield to surge, approaching the 5% mark once more. These experts highlighted several factors contributing to the decline of the Indian stock market, including the conflict in the Middle East, the strength of the US dollar, selling by Foreign Institutional Investors (FIIs), disappointing Q2 2023 results, and mounting concerns about inflation. (Read More)
As many as 83 percent of consumers — an overwhelming majority — have expressed unhappiness at paying convenience fees for online payment of services, a survey by LocalCircles found.
For the rest, 10 percent said they “happily pay" convenience fees to avoid standing in queues, against 5 percent who prefer to endure the queues. In contrast, only 2 percent of the respondents did not have a clear response.
The survey quizzed 32,000 respondents from 319 districts in India between June 16 and October 19, this year. (Read More)
On Wednesday, October 25, Adani Ports' share price saw a nearly 2 percent increase during morning trading. This upward movement came subsequent to the company's disclosure of the incorporation of its wholly owned subsidiary entity, Udanvat Leasing IFSC Limited.
"Adani Ports and Special Economic Zone has incorporated a wholly owned subsidiary company Udanvat Leasing IFSC Limited on October 23, 2023," said Adani Port and Special Economic Zone in an exchange filing on October 23. (Read More)
The allotment process for the IRM Energy IPO has been completed, allowing investors to ascertain the number of shares they have been allocated through the basis of allotment. For individuals who were not assigned shares, the refund process has already commenced. The scheduled listing date for the IRM Energy IPO is Thursday, October 26, and it will be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
IRM Energy Limited IPO GMP today or grey market premium is +32. This indicates IRM Energy share price were trading at a premium of ₹32 in the grey market on Wednesday, according to investorgain.com. (Read More)
In an attempt to bolster the property market and stabilise the ailing economy, Hong Kong's leader has announced slashing extra stamp duties for some homebuyers and lowering the stock trade stamp duty.
In his annual policy blueprint on Wednesday, Chief Executive John Lee said stamp duty would be halved to 7.5% from 15% for second home buyers and non-citizen buyers with immediate effect, Reuters reported. (Read More)
Lupin's Board of Directors will hold a meeting on November 8 to discuss the company's unaudited financial results for the September quarter (Q2), the pharmaceutical major informed the exchanges on today.
Shares of the company have been trending down by 23.10 or 1.98 percent today, at ₹1,144.90, against previous close of ₹1,168. (Read More)
Telecom major Reliance Jio has deployed 85 per cent 5G network in India and has the capability to deploy one 5G cell in every 10 seconds, the company's Chairman Akash Ambani said.
According to a statement released by broadband speed and quality measurement firm Ookla, the Reliance Jio chairman said that the company has covered the entire country with a 5G network ahead of the promised time frame of December 2023.
"I am particularly proud of our speed of the committed True 5G roll-out. Today, we have covered the entire country with a robust True 5G network ahead of our promised time frame of December 2023. 85 per cent of the entire 5G deployment in India is made by Jio. We continue to deploy one 5G cell every 10 seconds," Ambani said.
According to the Department of Telecom, over 3.38 lakh base stations for 5G have been deployed across the country. (PTI)
Japan's Nikkei share average rose on Wednesday, continuing its rebound from a three-week low, as it tracked overnight gains on Wall Street, while Beijing's 1 trillion yuan ($136.8 billion) fiscal package provided an additional tailwind.
The Nikkei ended the day up 0.67% at 31,269.92, but couldn't maintain the momentum from the morning session when it rose 1.3% to 31,466.92, the strongest level since Thursday.
The stock benchmark had dipped as low as 30,551.67 in the previous session, a level last seen on Oct. 4.
Of the Nikkei's 225 components, 158 gained on Wednesday versus 67 that fell.
The broader Topix rose 0.61%. An index of value shares gained 0.78%, outpacing a 0.41% increase for growth stocks. (Reuters)
Mumbai city (area under BMC jurisdiction) received property registration of 4,594 units during the nine days of Navratri, spanning from October 15th to October 23rd, 2023, resulting in a 37.4% year-on-year (YoY) growth, according to Knight Frank India. This marks an increase from the 3,343 units registered during the Navratri period last year.
The state exchequer collected a total revenue of INR 435 Crores (Cr) from property registrations within this nine-day period. Additionally, the daily average registrations rate increased from 371 units in the nine days of Navratri 2022 to 510 units in Navratri 2023, added the statement.
The Asian Development Bank (ADB) has approved a $400 million policy-based loan to India, aimed at backing urban reforms by way of boosting infrastructure quality, providing assured public services and efficient governance systems, the multilateral development bank said in a statement.
The loan will be under ADB's Sustainable Urban Development and Service Delivery Program’s Subprogram 2, which supports investment and reforms at the state and urban local body (ULB) levels. (Read More)
Tesla Inc. says it has received requests for information and subpoenas from the US Department of Justice related to potential personal benefits violations, the advertised range of its vehicles and personnel decisions.
The company disclosed in a filing Monday that it received the requests in the third quarter.
The Wall Street Journal in September reported that federal prosecutors are investigating perks provided to Chief Executive Officer Elon Musk going back as far back as 2017, including a project described as a glass house for Musk. (Read More)
Indian tax authorities have served notices worth about 1 trillion rupees ($12.03 billion) to online gaming companies, a government source said on Wednesday, speaking on condition of anonymity. (Reuters)
Vedanta, India's prominent diversified natural resources company, observed a 2% surge in its share price, reaching ₹219.40 per share during Wednesday's early trading session. This boost followed an exchange filing on Tuesday, where the company announced the appointment of Ajay Goel as the new Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the company, effective from October 30, 2023. This announcement came in light of Sonal Shrivastava's resignation from the position of CFO and KMP, effective as of the close of business hours on October 24, 2023, citing personal reasons.
Ajay Goel had previously departed from his position at Vedanta earlier this year to join the educational startup BYJU's. However, his tenure at BYJU's lasted merely six months before his recent departure. (Read More)
Sameer Bhise of JM Financial Institutions views on L&T Finance Holdings 2QFY24 Result Update | Retail scale up continues
BUY INR 145
LTFH reported consolidated profit of INR5.95bn (+12% QoQ, 47% YoY) above our estimate of INR 5.9bn. NII stood at INR17.3bn (+5% QoQ, +11% YoY,+5.5% JMFe) and PPOP at INR13.2bn (+11% YoY/QoQ, +6% JMFe). Overall loan growth remained flat sequentially as retail assets grew sharply by (+8% QoQ, +33% YoY) which was offset by (-34% QoQ, -75% YoY) de-growth in wholesale book. Retail assets now form ~88% of total loans. Mgmt. remains confident on scaling up its retail portfolio to ~90% of the overall lending book by next quarter led by continued traction in its identified segments of consumer loans (+63% YoY), rural micro/group loans (+37% YoY) and home loans (+34% YoY). Reported NIMs improved +56 bps QoQ at 8.62% as yields moved up +49bps QoQ at 15.2% and CoFs remained steady at 7.8%(+2bps QoQ). Asset quality outcome was also favourable with 77bps QoQ decline in GS3 led by 311bps QoQ improvement in wholesale GS3 and 16bps QoQ improvement in retail GS3. Mgmt. believes focus on analytics, cross sell to existing customer base and continued investments in its tech prowess should aid LTFH in delivering its targeted RoA of 2.8-3% on an overall level (with GS3<3%, NS3<1%). While LTFH’s scale up of retail portfolio is encouraging, valuation upsides are contingent on sustainable RoE improvement and continued steady asset quality under the new leadership. We build in RoAs of 2.4% by FY25E. Maintain BUY with a TP of INR 145(1.3x FY25e P/BV).
Cello World's initial public offering (IPO) is set to open for subscription on Monday, October 30, and will conclude on Wednesday, November 1. Prior to the subscription period, the allocation to anchor investors for the Cello World IPO is scheduled for Friday, October 27. The IPO price band has been established between ₹617 and ₹648 per equity share, each having a face value of ₹5. The floor price represents 123.40 times the face value of the equity shares, while the cap price represents 129.60 times the face value of the equity shares. (Read More)
Avdhut Bagkar, Derivatives & Technical Analyst, StoxBox Outlook of Nifty and Nifty Bank ahead of Monthly expiry: Despite Nifty and Nifty Bank opening in the green and remaining afloat, theta in CE is aggressively decaying. While both the indices defending their green territories, all PE buying has remained strong in the early hours of the session.
We are one day away from monthly expiry, and theta deterioration in CE is not painting a bright picture. To make a comeback, Nifty and Nifty Bank must cross 19,350 and 43430, respectively, to hold a reversal for tomorrow's session.
Conservative option traders must exercise caution, while aggressive behaviour may consider longs once successive intraday highs are exceeded.
Kotak Mahindra Bank (KMB) reported stable 2QFY24 results with the key pointers being: a) Strong NII (up 24% YoY and 1% QoQ) and steady provisions, b) GNPA/NNPA ratio stable at 1.72%/0.37%, c) restructured pool inched down to ₹5.3bn (15bps of advances) v/s ₹6.1bn in the previous quarter, d) credit off-take strong with growth of 18.5% YoY and 6% sequentially, e) covid provision held at ₹3.2bn as of 2QFY24, provision write-back worth ₹160mn, f) the total contingent provisioning (covid + Standard + Specific) stood 0.55% of net advances, h) Total PCR (including covid, general and specific provision) stood ~110% of GNPL amount, g) Headline NIM inched down 42bps QoQ to 5.15%. Moreover, increased Opex (C/I at 46.5%) led to sequentially lower ROA of ~2.48%. However, we see a weakness in fixed rate saving account growth. It has relatively weak liability franchises (v/s peers: HDFCB and ICICIB) that will be tested in FY24E as deposit competition is intensifying. Nevertheless, asset quality provides comfort for lower credit cost. Hence, the peak ROA (~3% in 4QFY23) likely to settle at the historical range of 2.2 % - 2.4%. We recommend BUY factoring a best in class ROA of more than 2.5%.
Despite an initial rise, Torrent Pharmaceuticals' share price reversed its trajectory to trade over 2% lower on Wednesday following the company's announcement of robust growth in net profit and revenue for the second quarter of FY24. On the Bombay Stock Exchange (BSE), Torrent Pharma experienced a decline of 2.74%, with each share priced at ₹1,822.80. The pharmaceutical firm reported a consolidated net profit of ₹386 crore for the September quarter, reflecting a significant 24% increase compared to the corresponding period the previous year. Additionally, the company's revenue witnessed a notable surge of 16% from ₹2,291 crore to ₹2,660 crore year-on-year. (Read More)
Construction engineering company Gensol Engineering on Wednesday said that it has bagged a contract worth ₹301.5 crore from Maharashtra State Power Generation Co Ltd (Mahagenco).
The latest contract is for the installation and commissioning of a solar power plant.
Gensol Engineering Ltd has won "bid for the conceptualisation, engineering, provisioning, installation, testing, and commissioning of a state-of-the-art 62 MWAC crystalline solar PV technology grid interactive solar PV power plant ...in Maharashtra," the company said in a stock exchange filing. (PTI)
The listing of Arvind and Company Shipping on the NSE SME platform saw a remarkable performance as the shares debuted at ₹80 per share, marking a significant increase of 77.77% from the initial issue price of ₹45. The IPO of Arvind and Company Shipping Agencies was available for subscription from Thursday, October 12, until Monday, October 16, with a price band set at ₹45. (Read More)
On Wednesday, shares of Delta Corp experienced a significant surge of over 8% following the Bombay High Court's injunction restraining tax authorities from issuing a final order on the ₹16,195-crore GST notice directed at the casino operator. The order was issued by the Goa Bench of the Bombay High Court. During the trading day, the stock soared by as much as 8.2%, reaching a high of ₹140.70. Notably, over the past year, the stock has witnessed a decline of more than 42%, along with a 36% drop in performance for the year 2023 so far. (Read More)
Adani Ports and Special Economic Zone Ltd (APSEZL) on Monday said it has incorporated a wholly-owned aircraft leasing unit, Udanvat Leasing IFSC Ltd. The entity will have an authorised and paid-up share capital of ₹2.5 crore. Udanvat has been incorporated with the objective to carry out business activity of owning and leasing of aircraft, the compay said in a regulatory filing.
Today marks the commencement of the initial public offering (IPO) of Blue Jet Healthcare Limited. The book build issue will be open for bidding until the 27th of October 2023. Potential investors have the opportunity to apply for shares from Wednesday through Friday this week. The company has set the Blue Jet Healthcare IPO price within the range of ₹329 to ₹346 per equity share, with plans for the public issue to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). Interestingly, the shares of Blue Jet Healthcare Limited have already made a debut in the grey market, with market observers noting that they are currently available at a premium of ₹85 per share. (Read More)
On Wednesday, October 25, PNB Housing Finance experienced notable fluctuations in its share price during early trading on the Bombay Stock Exchange (BSE) following the release of the company's September quarter results. Commencing at ₹728.95, up from the previous close of ₹718.30, the stock initially surged by almost 2% to reach ₹730.40. However, it subsequently surrendered these gains, plunging by over 2% to hit ₹701.30 within the initial 10 minutes of trading. By approximately 9:30 am, the stock had dropped by 1.94%, settling at ₹704.35 on the BSE. Several brokerage firms have expressed optimism about the stock following the non-banking financial company's performance in the September quarter. Notably, Motilal Oswal Financial Services upgraded the stock to a buy, with the target price raised to ₹950, indicating a potential upside of 33%. (Read More)
Approximately 45 companies will release their September quarter results today. Investors are focused on major players like Tech Mahindra Ltd, Axis Bank Ltd, Jubilant Foodworks Ltd, Welspun India Ltd, Network18 Media & Investments Ltd, and Indus Towers Ltd. (Read More)
Mandar Bhojane, Research Analyst, Choice Broking's morning outlook for 25th Oct 2023: The Sensex and Nifty indices are set to open slightly lower today, as indicated by the GIFT Nifty trends, which show a loss of 30 points.
Recent market conditions have proven to be quite challenging. The benchmark indices are trading near support levels and have closed in the red for the fourth consecutive session.
The Nifty has dipped below crucial technical indicators, including the 20-day, 50-day, and 100-day Exponential Moving Averages, signaling bearish sentiment among investors. A key support level to monitor is at 19,200. If the Nifty breaches this level, it could potentially lead to a more significant market correction. On the flip side, 19,600 is expected to act as a resistance level, indicating potential hurdles for any upward movements.
Taking a deeper look at the market, the Relative Strength Index (RSI) momentum indicator currently suggests some strength on the lower side, hovering around the 35.95 level.
In a scenario with bearish trends in both the Nifty and Bank Nifty, it is advisable for market participants to exercise caution and adopt a more selective, stock-specific approach. Buying on dips may be a prudent strategy for managing investments in such conditions.
The Indian rupee is expected to climb on Wednesday following a further decline in oil prices on worries over demand and a pullback in U.S. Treasury yields.
Non-deliverable forwards indicate the rupee, resuming trade after Tuesday's holiday, will open at around 83.00-83.02 to the U.S. dollar, compared with 83.1925 in the previous session.
"You would have to expect that the dip (in USD/INR) would find buyers," a forex trader at a bank said.
"Today's price action will be interesting, in that we will come to know how decently dips will be received. The RBI (Reserve Bank of India) will remain the biggest factor."
The RBI has been supporting the rupee for several sessions, and the intervention has been particularly aggressive in recent days. (Reuters)
This week in the world of Dalal Street, attention is drawn to Infosys shares as the Indian IT giant prepares to trade ex-dividend. Infosys Ltd's board of directors has announced an interim dividend of ₹18 per share for eligible shareholders, scheduled to be paid out during the current fiscal year. Notably, the dividend record date has been set for October 25th, 2023. (Read More)
With an 85% drop in stock, Adani Total's valuation matches Hindenburg's forecast, said Bloomberg in a news report. Adani Total Gas Ltd is the first of the group's seven listed firms to reach that price, having been alerted to an 85% downside in Adani shares nine months ago by US short-seller Hindenburg Research.
The conglomerate's city-gas distributor's shares fell 2.6% to 575.7 rupees on Monday, extending their losses from their closing price of 3,891.75 rupees on January 24 to 85%, according to Bloomberg report. (Read More)
Oil steadied after falling over the previous three sessions on signs that the Israel-Hamas war will remain contained for the time being.
Global benchmark Brent was near $88 a barrel, erasing about half of the gains since Hamas’ attack on Oct. 7, while West Texas Intermediate fell below $84 a barrel. The US and Saudi Arabia agreed to pursue diplomatic efforts to maintain stability across the Middle East, the White House said Tuesday, helping to ease fears of major disruptions to the oil market.
Crude spiked in the initial stages of the war on concerns the conflict would escalate, potentially threatening exports from Iran and leading to attacks on tankers in key shipping routes. Those fears have ebbed in recent sessions, with growing calls within Israel to rethink the scope of a ground invasion of Gaza, although the risk of further disruption remains. (Bloomberg)
Google-parent Alphabet's cloud business suffered as long-time rival Microsoft's took off in the September quarter, demonstrating early signs that the Windows maker's investment in artificial intelligence was paying off.
Alphabet's shares fell 7% in after hours trading on Tuesday. Microsoft's rose 5%.
The drop in Alphabet's shares, despite it beating Wall Street estimates for overall profit and sales, showed investors wanted it to deliver gains in artificial intelligence and demonstrate it remained competitive against Microsoft's Azure and Amazon.com's AWS cloud businesses.
"While a single quarter doesn't a major trend make, this quarter's cloud results ... suggest that Azure is gaining share against its competition," said Bob O'Donnell, chief analyst at TECHnalysis Research.
"In addition, it could be that Microsoft's very strong messaging on their Copilots and GenAI technology is getting companies to consider them in a more serious way."
Microsoft has emerged as an AI frontrunner, largely due to its substantial investment into startup OpenAI, the maker of hit product generative AI chatbot ChatGPT. (Reuters)
On Tuesday, Vedanta, an Indian company, confirmed the resignation of Chief Financial Officer (CFO) Sonal Shrivastava, amidst the implementation of a significant structural reorganization disclosed last month.
In an official statement, the company announced the appointment of Ajay Goel, the current CFO at Indian edtech startup Byju's, as the new finance chief for Vedanta, effective from October 30.
Last month, billionaire Anil Agarwal-led Vedanta had revealed its intentions to divide the conglomerate, spanning from metals to oil, into six distinct businesses. This strategic move was aimed at fortifying the group's financial performance, following unsuccessful previous efforts to privatize the company and reduce its liabilities. (Read More)
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher recommends for intraday trading:
1] UBL: Buy at ₹1629, target ₹1690, stop loss ₹1605;
2] PEL: Sell at ₹971.75, target ₹940, stop loss ₹975; and
3] Tata Chemical: Sell at ₹978.50, target ₹950, stop loss ₹996. (Read More)
