The market breadth was skewed in the favour of buyers. About 2,264 stocks advanced, 1,601 declined, and 94 remained unchanged on the BSE.
"Traders are advised to hold their long position with a trailing stop loss for the above given targets. On the lower side, Nifty has a strong support at 21,900 levels," Deven Mehta, research analyst at Choice Equity Broking Pvt., said.
Kotak Mahindra Bank had 12 lakh shares changed hands in a large trade.
The lender's 0.1% equity changed hands at Rs 1,730.5 apiece.
Buyers and sellers are not known immediately.
Source: Bloomberg
Rising Per Capita Income To Benefit Two Sectors, Says Dalal & Broacha's Milind Karmarkar
Confidence Petroleum signed a pact with Norway-listed BW LPG to strengthen LPG terminal infrastructure, downstream ops across India.
BW LPG invests $30 million in the company via preferential allotment of shares.
Source: Exchange Filing
Sula Vineyards Ltd has issued a clarification on report 'Verlinvest Asia to sell entire 8.34% stake in Sula Vineyards'.
It said the company is not aware of decision of Verlinvest Asia to sell its stake.
Alert: Co had 12% equity traded in 2 block deals today.
Source: Exchange filing
Indian Renewable Energy Development Agency Ltd signed a pact with Punjab National Bank to co-finance green energy projects.
Both companies through the joint venture will co-lend, and syndicate diverse spectrum of renewable energy projects.
Source: Exchange Filing
IOL Chemicals & Pharmaceuticals Ltd received approval from China's drug regulator for Metformin Hydrochloride.
China's approval will help the company to export the chemical to Chinese markets.
Source: Exchange filing
Power Grid Corp approved investment of Rs 515 crore in ULDC Phase-III.
The company also approved investment of Rs 141 crore in Leh project.
Source: Exchange filing
Paytm stock rose as much as 5% during the day to hit the upper circuit of Rs 358.35 apiece on the NSE. This compares to a 0.19% advance in the benchmark Nifty 50 as of 9:25 a.m.
It has fallen 45.87% in the past 12 months. The relative strength index was at 26.
Six out of the 14 analysts tracking have a 'buy' rating on the stock, five recommend a 'hold' and three suggest a 'sell', according to Bloomberg. The average of 12-month analyst price targets implies a potential downside of 45.6%.
Quess Corp stock rose as much as 16.07% during the day to Rs 582 apiece on the NSE, the highest jump since June. 11, 2021. It was trading 13.21% higher at Rs 567.65 apiece, compared to a 19% advance in the benchmark Nifty 50 as of 9:25 a.m.
The total traded volume so far in the day stood at 193 times its 30-day average. The relative strength index was at 73, indicating that stock may be overbought.
Five out of the seven analysts tracking have a 'buy' rating on the stock, one recommend a 'hold' and one suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies an upside potential of 1.4%
The market breadth was skewed in favour of buyers. Around 2,186 stocks rose, 936 stocks declined, and 134 stocks remained unchanged on BSE.
At pre-open, the NSE Nifty 50 was 62.75 points or 0.28% higher at 22,103.45, and S&P BSE Sensex was 200.96 points or 0.28% up at 72,627.60.
Key OW Sectors: PSU Utilities & Defence, Industrials, Banks/Insurance
Key UW Sectors: Consumer Discretionary, IT Services, Metals
Replaced RIL with BPCL in line with analyst views
Added Makemytrip Ltd, 360One and Concord Biotech in midcap picks, excluded Sobha
Believes BSE-100/NIFTY earnings growth was ahead at 19%/10% YoY
Moves to 'not rated' until news flow settles
RBI FAQ effectively winds down wallet business
Clarity on non-PPBL merchants (70-80%) is a positive
Business model moving to a pure payments company
Paytm likely to dip into >$1 bn cash reserves for merchant/customer retention
Asia Stocks Erase Gains As China Optimism Fades: Markets Wrap
Goldman Lifts S&P 500 Target To 5,200 On Profit Expansion
Price band revised from 10% to 20%: Prakash Industries.
Price band revised from 2% to 5%: Kaushalya Infrastructure Development Corp.
Price band revised from 5% to 20%: Om Infra.
Moved into short-term ASM framework: Inox India, Shaily Engineering Plastics.
Moved Out of short-term ASM framework: BF Utilities, EIH, SMC Global Securities.
Sobha: To meet analysts and investors on Feb. 23.
Greaves Cotton: To meet analysts and investors on Feb. 20.
Landmark Cars: To meet analysts and investors on Feb. 21.
PG Electroplast: To meet analysts and investors on Feb. 22.
Kalyan Jewellers: To meet analysts and investors on Feb. 20.
Bajaj Finserv: To meet analysts and investors on Feb. 21.
Grasim Industries: To meet analysts and investors on Feb. 20.
Kamat Hotels: To meet analysts and investors on Feb. 21.
Vijaya Diagnostic Centre: To meet analysts and investors on Feb. 22
Titan Co: To meet analysts and investors on Feb. 20
Kotle-Patil Developers: To meet analysts and investors on Feb. 20
Finotex Chemicals: To meet analysts and investors on Feb. 19
Vedanta: To meet analysts and investors on Feb. 27
Brigade Enterprises: To meet analysts and investors on Feb. 19
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Advanced Enzyme Technologies: Promoter group Advanced Vital Enzymes sold 72,851 shares between Feb. 14 and 15.
Star Cement: Promoter Suchita Agarwal sold 10,000 shares on Feb. 12.
Apollo Micro Systems: Bajaj Finance sold 37.82 lakh shares (1.44%) at Rs 121.48 apiece and Columbia Petro Chem bought 37 lakh shares (1.41%) at Rs 121.5 apiece.
Rising Per Capita Income To Benefit Two Sectors, Says Dalal & Broacha's Milind Karmarkar
Paytm Shifts Nodal Account To Axis Bank, Says Soundbox To Work Beyond March 15
Oil Dips From Three-Week High On Lingering Concerns Over Demand
Stock Market Today: All You Need To Know Going Into Trade On Feb. 19