Stock market update: Nifty Pharma index falls 0.07% in an upbeat market
NEW DELHI: The Nifty Pharma index traded negative around 10:50AM(IST)on Friday in an upbeat market.
ADVERTISEMENT Laurus Labs Ltd.(up 2.46 per cent), Granules India Ltd.(up 1.63 per cent), Gland Pharma Ltd.(up 1.1 per cent), Natco Pharma Ltd.(up 0.97 per cent) and Glenmark Pharmaceuticals Ltd.(up 0.71 per cent) were among the top gainers.
Mankind Pharma Ltd.(down 3.02 per cent), Ajanta Pharma Ltd.(down 2.41 per cent), Ipca Laboratories Ltd.(down 1.59 per cent), J B Chemicals & Pharmaceuticals Ltd.(down 0.94 per cent) and Torrent Pharmaceuticals Ltd.(down 0.63 per cent) were the top losers on the index.
The Nifty Pharma index was down 0.07 per cent at 21757.7 at the time of writing this report. Benchmark NSE Nifty50 index was up 147.6 points at 24481.8, while the BSE Sensex was up 630.82 points at 80873.06. Among the 50 stocks in the Nifty index, 37 were trading in the green, while 13 were in the red.
ADVERTISEMENT Shares of Vodafone Idea, Eternal, Vishal Mega Mart, Indian Oil Corp. and YES Bank were among the most traded shares on the NSE.
Shares of Force Motors, Coromandel Int., Reliance Naval & Engg, Privi Speciality Chemicals and Bannari Amman hit their fresh 52-week highs in today's trade, while GI Engineering, ART Nirman, AGS Transact Tech, Gensol Engg and Praj Ind. hit fresh 52-week lows in trade.
(You can now subscribe to our ETMarkets WhatsApp channel)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
31 minutes ago
- Economic Times
Fresh triggers could take Nifty to 25,300–25,500: Analysts
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Mint
an hour ago
- Mint
Stocks to trade today: Trade Brains Portal recommends two stocks for 9 June
Stock market today: Indian equities ended Friday with stellar gains after the RBI delivered a double bonanza—a surprise 50 basis point cut in the repo rate and a 100 basis point reduction in the cash reserve ratio (CRR)—raising hopes of stronger credit demand and a rebound in domestic growth. The Nifty 50 rose 252 points, or 1.02%, to close at 25,003, while the Sensex gained 443 points, or 1%, to end at 82,188. The move came as a surprise at a time when markets had been losing steam, with the Nifty slipping over the past two weeks amid concerns over stretched valuations and global trade uncertainty. Rate-sensitive sectors—led by real estate, financials, and auto—rallied sharply, while optimism around an above-normal monsoon lifted FMCG stocks. Against this backdrop, Trade Brains Portal has picked two stocks—one from the financial services sector and another from the metals and mining sector. Stocks to trade today, recommended by Trade Brains Portal for 9 June: REC Ltd Current price: ₹414 Target price: ₹520 (12 months) Stop-loss: ₹360 Why is REC recommended: Rural Electrification Corp. Ltd (REC Ltd), a leading 'Maharatna' company, is registered as a non-banking financial company (NBFC), public financial institution (PFI), and infrastructure financing company (IFC). REC provides financing across the power infrastructure spectrum—including generation, transmission, distribution, and renewables—as well as for emerging technologies such as electric vehicles, battery and pump storage, green hydrogen, and green ammonia projects. The company has also diversified into non-power infrastructure sectors, including roads and expressways, metro rail, airports, IT and communications, social and commercial infrastructure (such as hospitals and educational institutions), ports, and electro-mechanical (E&M) projects across sectors like steel and refineries. In FY25, REC's disbursements rose 18% year-on-year to ₹1,91,185 crore, up from ₹1,61,462 crore in FY24. It reported its highest-ever loan book at ₹5.67 lakh crore, an 11% YoY increase, and record net profit of ₹15,713 crore, up 12% YoY. Net interest income rose 27% to ₹19,878 crore, while total income increased 19% YoY to ₹55,980 crore. The company's asset quality continues to improve. Earnings per share for FY25 stood at ₹59.55, with total dividends of ₹18 per share, marking a 180% rise. REC's net interest margin improved by 6 basis points YoY to 3.63% in FY25 and is projected to remain in the 3.5–3.75% range for FY26. It aims to disburse ₹2–2.1 lakh crore in FY26 and reach a loan book of ₹10 lakh crore by FY30, targeting a 12% CAGR. Prepayments are expected to remain at around ₹1 lakh crore annually. Over the next 2–3 years, transmission and smart metering projects are expected to provide ₹1.1 lakh crore in new opportunities, with 11 crore smart meters alone representing a ₹45,000–50,000 crore opportunity. REC currently holds a book value of ₹58,000 crore and aims to disburse ₹3 lakh crore in renewables by 2030. Its five-year Revolving Bill Payment Facility targets disbursements of ₹80,000–90,000 crore in FY26. EPC contracts have been completed, and payment flows are expected to pick up in FY26. Risk factors: The company is exposed to financially weak clients, particularly state power utilities. It also faces client concentration risk, with 36% of its loan book concentrated as of 31 December 2024. Additionally, REC is susceptible to technological shifts, regulatory changes, and evolving customer behavior. Read this | For steel companies, Q4 was an inflexion point as prices, demand firm up Hindustan Zinc Ltd Current price: ₹502 Target price: ₹630 (12 months) Stop-loss: ₹438 Why is Hindustan Zinc recommended: Founded in 1966 and part of the Vedanta group, Hindustan Zinc Ltd is the world's largest integrated zinc producer and among the top five global silver producers. The company supplies to over 40 countries and commands a dominant 77% share of India's primary zinc market. With a mine life exceeding 25 years, it holds reserves and resources (R&R) of 453.2 million tonnes, with an average zinc-lead grade of 6.5%. It also launched EcoZen, Asia's first low-carbon 'green' zinc brand. In FY25, the company recorded its highest-ever mined metal production at 1,095 kt and refined metal output at 1,052 kt. Domestic zinc sales reached a record 603 kt, reinforcing its leading market position. Metal reserves exceeded 13.1 Mt (net of 1.2 Mt production), and total metal R&R now stands at 29.6 Mt. Hindustan Zinc posted robust financials in FY25, with revenue rising 18% YoY to ₹34,083 crore, up from ₹28,932 crore in FY24. EBITDA grew 28% YoY to ₹17,465 crore, reflecting an industry-leading margin of 51%. Profit after tax (PAT) stood at ₹10,353 crore, up 33% from ₹7,759 crore in FY24. Free cash flow from operations (pre-capex) reached ₹13,784 crore, and return on capital employed hit a record 58%. With a well-defined capex plan, the company expects to sustain strong performance in FY26. Mine metal production is targeted at 1.125 million tonnes, with refined metal production at 1.1 million tonnes. Refined silver output is projected between 700 and 710 tonnes, while zinc production costs are expected to range between $1,025 and $1,050 per tonne. Approved growth capex projects are expected to require $225–250 million. The company also plans to commission its Roaster project in Q1 FY26, which will process 160,000 tonnes of zinc ore annually. Risk factors: Hindustan Zinc is exposed to the cyclical nature of demand in the galvanized steel industry, which accounts for 70% of zinc consumption in India. As a capital goods-oriented business, it is heavily reliant on end-user industries such as automotive, consumer durables, batteries, home appliances, construction, and infrastructure. Zinc also faces substitution risk from metals like aluminium and other alloys. Additionally, the company faces regulatory and geographic concentration risks, with most of its production located in Rajasthan. Read this | These three large-cap stocks are trouncing the Sensex in 2025—so far Stock market recap: 6 June Indian equities staged a strong rebound on Friday, buoyed by the Reserve Bank of India's surprise 50 basis point cut in the repo rate to 5.50% and a shift in policy stance to 'neutral.' The move sparked optimism around credit demand and economic recovery, triggering broad-based buying across consumption-driven and growth-oriented sectors. Infrastructure & Realty, NBFCs & Finance, and Metal stocks were among the top gainers. The Nifty 50 rose 252.15 points, or 1.02%, opening above its 20-day EMA at 24,748.70, hitting an intraday high of 25,029.50, and settling at 25,003.05. The BSE Sensex mirrored this strength, opening at 81,434.24 and closing at 82,188.99, up 746.95 points or 0.92%. Both indices stayed comfortably above their 20/50/100/200 EMAs on the daily chart, with RSI levels at 59.98 for the Nifty and 59.27 for the Sensex—well below the overbought threshold of 70. Banking stocks rallied, with the Nifty Bank index hitting a record high of 56,695 before closing at 56,578.40, up 1.47%. The Nifty Private Bank index jumped 1.79% to 27,832.50, buoyed by expectations of improved liquidity and credit flow, particularly to MSMEs and retail borrowers. IDFC First Bank surged 7.11%, RBL Bank gained 5.19%, Bandhan Bank rose 4.01%, and Axis Bank added 3.07%. The Nifty Realty index was Friday's standout performer, climbing 4.68% to 1,039.60 and reclaiming the 1,000 mark for the first time in six months. Real estate majors like DLF and Godrej Properties surged over 6%, driven by expectations of lower EMIs boosting demand—particularly in the EWS and LIG housing segments. Metal stocks also saw strong traction, with the Nifty Metal index rising 1.9%. JSW Steel gained 3.73%, while NALCO and Jindal Stainless each advanced more than 3%. The Nifty Finance index climbed 1.75%, led by ICICI Lombard (up 6.85%), Muthoot Finance (6.61%), and Shriram Finance (5.65%). Media stocks bucked the trend, with the Nifty Media index slipping 1.14% to 1,705.75. Among the top laggards were Tips Industries (-2.75%), Dish TV India (-2.08%), and PVR Inox (-1.85%). Also read | United Spirits is on a high after RCB's IPL win, JP Morgan upgrade and UK FTA. Can it keep buzzing? Asian markets ended mixed. The Shanghai Composite inched up 0.04%, and the Nikkei 225 gained 0.5%, while the Hang Seng fell 0.48% to 23,792.54 and the Shenzhen Component declined by 0.19%. In the US, Dow Jones Futures were up 0.34%, or 142 points, suggesting a positive open. Trade Brains Portal is a stock analysis platform. Its trade name is Dailyraven Technologies Pvt. Ltd, and its Sebi-registered research analyst registration number is INH000015729. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
an hour ago
- Mint
Best stocks to buy today, as recommended by NeoTrader's Raja Venkatraman
India's stock market wrapped up last week on a high, posting nearly a 1% gain thanks to positive domestic developments. Initially, caution prevailed as investors awaited the Monetary Policy Committee's (MPC) decision. However, a pleasant surprise—a 50-basis point cut in the repo rate and a staggered 100-basis point reduction in the cash reserve ratio—swiftly shifted sentiment. This led to a significant upward surge, after which the market stabilized for the rest of the day. Ultimately, the Nifty 50 index closed near its daily high at 25,003.05. Here are three stocks to buy or sell today, as recommended by Raja Venkatraman of NeoTrader for Monday, 9 June. POLYCAB: Buy CMP and dips to ₹ 6,000 | Stop: ₹ 5,950 | Target: ₹ 6,525-6,700 BORORENEW: Buy CMP and dips to ₹ 542 | Stop: ₹ 525 | Target: ₹ 615-630 DALBHARAT: Buy above ₹ 2,120 and dips to ₹ 2,090 | Stop: ₹ 2,070 | Target: ₹ 2,250-2,325 The market rally on 6 June was broad-based, with all major sectors contributing. Rate-sensitive sectors like realty, financials, and auto were the biggest beneficiaries, with other sectors also performing well. Broader market indices also extended their gains, rising between 0.8% and 1.2%. While the Nifty 50 is still in a consolidation phase, the renewed vigor in rate-sensitive sectors, especially the breakout in the banking index, has reignited hopes for a sustained upward trend. A definitive break above 25,200 on the Nifty could initiate the next leg of the rally, potentially propelling the index towards 25,600. Looking ahead, the impact of the recent rate cut is expected to continue driving market sentiment. The rate-sensitive segments, along with specific themes like railways, are likely to remain in the spotlight, with other sectors contributing in a rotational manner. Finally, after some huffing and puffing, the Nifty 50 managed to crack through the resistance at 25,000 and powered its way higher by Friday. In between, there were some intraday fulminations but the bulls managed to hold the wheel and did not allow the trend to go off the road. Matters were helped in the last week when the best efforts by the bears were held at abeyance over three successive sessions, with Doji type candle formations. When such a pattern gave way to a bullish candle starting on Monday, the stage was set for more gains. Results flow has been good for the fourth quarter, and some heavyweights came out with Street-beating numbers, which has kept the sentiment juices flowing rather nicely. In addition, activity in the mid- and small-cap segments has also been good. With the threat of the Trump tariffs now receding with no real clarity, the market has one less item to worry about. The Reserve Bank of India's policy was the turning point last week. On Friday, the RBI Governor went beyond anticipation to give a 50 basis point repo rate cut and 100 bps CRR cut to bolster the banking and financials sectors. (TradingView) Bank Nifty compared to Nifty has fared well and would give us more than fair evidence of continued bullish play to emerge next week, however on dips. Considering the pointers, one should look to buy at lower levels in the indices. The sharp rise in trends on Friday beyond the much-touted resistances at 25,000 has given us some opportunity to look for some opportunities in Nifty now. Trading has been quite challenging as the movements are happening in spurts hence it's best to trade with suitable stop loss. Applying a fair amount of discretion shall enable us to profit from the volatility that shall continue, as we are now witnessing some positive vibes against the backdrop of a pensive global scenario. POLYCAB: Buy CMP and dips to ₹ 6,000 | Stop: ₹ 5,950 | Target: ₹ 6,525-6,700 Why POLYCAB is recommended: With about 25% organized market share, Polycab leads the domestic C&W market. The company is present in both cables (65% of the sales mix) and wires (25-30% of the mix).However, Jefferies feels that the stock will not face major headwinds as it already has an established presence and the new competition will take time to impact the revenues. This has led to a double bottom formation and a gradual ascent to the top . With prices holding firm at the TS line we can consider going long. With about 25% organized market share, Polycab leads the domestic C&W market. The company is present in both cables (65% of the sales mix) and wires (25-30% of the mix).However, Jefferies feels that the stock will not face major headwinds as it already has an established presence and the new competition will take time to impact the revenues. This has led to a double bottom formation and a gradual ascent to the top . With prices holding firm at the TS line we can consider going long. Key metrics P/E: 45.90 52-week high: ₹ 7,607.15 Volume: 319.43K Technical analysis: Support at ₹ 4,950; resistance at ₹ 6,950 Support at 4,950; resistance at 6,950 Risk factors: Market volatility and sector-wide fluctuations in geopolitical news could impact returns Market volatility and sector-wide fluctuations in geopolitical news could impact returns Buy at: CMP and dips to ₹ 6,000 CMP and dips to 6,000 Target price: ₹ 6,525-6,700 in 1 month 6,525-6,700 in 1 month Stop-loss: ₹ 5,950 BORORENEW: Buy CMP and dips to ₹ 542 | Stop: ₹ 525 | Target: ₹ 615-630 Why BORORENEW is recommended: BORORENEW posted weak Q4 numbers, indicating that the trends are under pressure. However, with the nature of the prices seen in the last few days we can comprehend that the newsflow has already been priced in. The volatile moves seen in the last 3 months are now seen giving up, indicating a possibility of some upward bounce as a V-U pattern is seen forming with volumes. Can look to go long. BORORENEW posted weak Q4 numbers, indicating that the trends are under pressure. However, with the nature of the prices seen in the last few days we can comprehend that the newsflow has already been priced in. The volatile moves seen in the last 3 months are now seen giving up, indicating a possibility of some upward bounce as a V-U pattern is seen forming with volumes. Can look to go long. Key metrics P/E: 225.05 52-week high: ₹ 644 Volume: 540.20K Technical analysis: Support at ₹ 460; resistance at ₹ 680 Support at 460; resistance at 680 Risk factors: Competition from streaming platforms and changing consumer preferences Competition from streaming platforms and changing consumer preferences Buy at: CMP and dips to ₹ 542 CMP and dips to 542 Target price: ₹ 615-630 in 1 month 615-630 in 1 month Stop-loss: ₹ 525 DALBHARAT: Buy above ₹ 2,120 and dips to ₹ 2,090 | Stop: ₹ 2,070 | Target: ₹ 2,250-2,325 Why DALBHARAT is recommended: The counter has been consolidating around the TS & KS Bands for the past few days. After a brief decline the stocks managed to gather support within the bands and produce a turnaround. After the recent test of the TS & KS bands and a strong closing on Friday we can look at some positive vibes to emerge. The counter has been consolidating around the TS & KS Bands for the past few days. After a brief decline the stocks managed to gather support within the bands and produce a turnaround. After the recent test of the TS & KS bands and a strong closing on Friday we can look at some positive vibes to emerge. Key metrics P/E: 208.50 52-week high: ₹ 2,166.70 Volume: 105.72K Technical analysis: Support at ₹ 2,050; resistance at ₹ 2,250 Support at 2,050; resistance at 2,250 Risk factors: Supplier retention and potential customer acquisition challenges Supplier retention and potential customer acquisition challenges Buy at: Above ₹ 2,120 and dips to ₹ 2,090 Above 2,120 and dips to 2,090 Target price: ₹ 2,250-2,325 in 1 month 2,250-2,325 in 1 month Stop-loss: ₹ 2,070 Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
