Scan to Download
A 100-200 points dip should only be looked at as a buying opportunity, said Amit Jeswani, founder, Stallion Asset said, adding “…we will not be worried until unless 9,100 is not broken.” He said the concerns for Indian equities remain largely global rather than anything local.
“We are bullish on the financial services space,” he told BloombergQuint by phone.
RBL Ltd., the youngest listed bank in the country, was among his top picks. “We think the Kolhapur-based bank could be the next ICICI or HDFC Bank,” he said.
Shares of the information technology company rose 2 percent, making it the second-best performer on the Nifty, after it managed to bag services contract from Finland-based Valmet.
As part of the multi-year engagement, Wipro will deliver the maintenance and support of the new ERP platforms in a Managed Services model covering all global locations in which Valmet operates.
The stock is up at high trading volume with 2.3 times its 30-day average volume
Blue Blends India Surges
Shares of the pipeline operator rose as much as 7 percent intraday, their biggest jump since March 1, to Rs 78.6 after it brought down holding in its U.S. unit to 19 percent.
The company also sold stake in its Singapore unit and closed its subsidiary in Spain.
Trading volume rose 9.7 times the 20-day average during the session
Coal India Ltd., the worst performer on the S&P BSE Metal Index so far this year, could see further downside on higher expenses, lower prices and offtake, said Goldman Sachs.
The international brokerage house has downgraded the world’s largest coal company to a ‘Sell’ and also lowered its target price to Rs 225 from Rs 290 earlier – potential downside of around 12 percent from Wednesday’s closing price.
Read more on what the brokerage had to say about Coal India, HERE
European stocks fell for a second day in a broad decline led by retailers and commodity producers, which tracked a drop in metal prices.
Buyers and sellers were not immediately known
Source: Bloomberg
Shares of the drug maker gained after it received the final approval from the U.S. FDA for the generic version of Genzyme’s Renvela medication.
Shares of the shipping vessel operator rose as much as 15.87 percent, its biggest intraday gain in three years, after NITI Aayog proposed a 26 percent strategic stake sale in the company, according to PTI report.
The proposal is said to fetch Rs 960 crore.
The stock gained on high trading volume at 65.7 times its 30-day average. It returned 51 percent so far this year and a gain of 31 percent in the past 52 weeks.
#BQMarketsNow | Nifty target at 9727 – 9770, says Geojit Financial Services’ Anand James.https://t.co/ohJR1EFu5Y pic.twitter.com/uqCC41JDp9
— BloombergQuint (@BloombergQuint) June 15, 2017
#BQMoney | Rupee to remain flat, says @HDFC_Bank's Tushar Arora.https://t.co/ohJR1EFu5Y pic.twitter.com/du84Q9fQfo
— BloombergQuint (@BloombergQuint) June 15, 2017
Jefferies says Infosys remains top sector pick
CLSA says Infosys had more misses than hits in FY17
Mahindra & Mahindra
ITC
A good monsoon is little comfort for despairing Indian farmers. @parija_pratik & @bibhu_pradhan reporthttps://t.co/G83NwVY8Lj pic.twitter.com/TloC631HKp
— BloombergQuint (@BloombergQuint) June 15, 2017
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
