Stock Market Today: Nifty Gains 1.5%, Sensex Ends 1,100 Points Higher As Realty, PSU Banks Rally
The Nifty 50 and BSE Sensex closed 1.5% higher on Tuesday.
KEY HIGHLIGHTS
US Futures Down: S&P 500, Dow Jones Lower
US index futures are pointing to a lower open later today.
S&P 500: 0.14%
Dow Jones Industrial Average: 0.06%
Nasdaq: 0.29%
Rupee Vs US Dollar: INR Strengthens
Rupee strengthened 23 paise to end at 86.57 against the US Dollar. Intraday, rupee strengthened 26 paise to 86.54 a dollar.
Source: Bloomberg
Nifty Gains 1.5%, Sensex Ends 1,100 Points Higher
Nifty Recorded its best intraday session since Feb. 4
ICICI Bank, M&M, L&T top sectoral gainer in Nifty
Nifty, Sensex ended higher by 1.5% for the day.
Nifty Midcap 150 ended higher by 2.13%
Nifty Smallcap 250 ended higher by 2.65%
Nifty Media to sectoral higher for the day led by TV18 broadcast, PVR Inox and Dish TV.
Nifty Bank best intraday session since Nov 25.
Nifty Media snaps five days losing streak.
Nifty Realty snaps three days losing streak.
Nifty FMCG, Oil and Gas snaps two days losing streak.
Nifty Auto, Metal, Financial Services, Pharma, IT ends higher for the second day in a row.
Nifty Bank ended higher for the fourth day in a row.
Macquarie On Lemon Tree Hotels
Maintain Outperform rating, target price of Rs 210, likely upside of 63%
Stock has potential to double at 1x PEG levels.
Current pipeline indicates no of rooms will increase by ~50% by 2028.
Highest FCF margin potential of 40% to drive ROCE from 12% in FY24 to 24% by FY28E.
Currently trades at 15% discount to the comp group on EV/ FY27E EBITDA.
Additional upside could come from multiple expansion, potential M&A Fleur IPO.
Stock Market Live Update: RBI Signs MoU With Bank of Mauritius
The Reserve Bank of India has signed a Memorandum of Understanding with the Bank of Mauritius to promote the use of local currencies for bilateral transactions, aiming to reduce reliance on foreign currencies and optimize transaction costs.
