Latest news with #JubilantIngreviaLtd
Mint
3 hours ago
- Business
- Mint
Top three stocks to buy today, 16 June, as recommended by Ankush Bajaj
Indian stock market benchmarks, the Sensex and the Nifty 50, suffered significant losses on Friday, tracking Asian peers such as Japan's Nikkei and South Korea's Kospi, as tensions between Israel and Iran spooked investors. The Sensex opened at 80,427.81 against its previous close of 81,691.98 and dropped over 1,300 points, or 1.6 per cent, to hit an intraday low of 80,354.59, while the Nifty started the day at 24,473 against its previous close of 24,888.20 and crashed 1.7 per cent to an intraday low of 24,473. Top three stocks recommended for today by Ankush Bajaj Also Read: Escalating Israel-Iran conflict to keep markets on boil in near term Buy: Manappuram Finance Ltd (Current Price: ₹279.54) Also read: The capital goods sector gets a power-up, its weight rises in Nifty Buy: Jubilant Ingrevia Ltd (Current Price: ₹793.55) Market Wrap On Friday, June 13, the Indian stock market opened with a sharp gap-down, reacting to weak global cues and broad risk-off sentiment. However, after the initial drop, the indices managed to recover some ground during the day, supported by selective buying in defensives and recovery in IT stocks. Despite the recovery attempt, the market closed in the red, continuing its short-term corrective phase. The Nifty 50 ended 169.60 points lower, down 0.68%, at 24,718.60, giving back gains from earlier sessions. The BSE Sensex also declined, falling 573.38 points or 0.70%, to finish at 81,118.60. The Bank Nifty remained under pressure, dropping 555.20 points or 0.99%, to close at 55,527.35. In sectoral performance, the realty Ssector ended marginally higher with a 0.06% gain, while healthcare Index also closed in the green, up 0.04%, offering some defensive support. On the losing side, the PSU Bank sector dropped 1.18%, the FMCG index declined 1.05%, and the Banking index ended down 0.99%, reflecting broad-based weakness. In stock-specific action, Bharat Electronics Ltd led the gainers with a 1.76% rise, followed by ONGC, up 1.46%, and Tech Mahindra, gaining 0.89%. Among the top losers were Adani Ports, which declined 2.82%, ITC, falling 1.69%, and SBI, also down 69%. Nifty Technical Analysis Nifty fell by 0.68 %, dropping 169.60 points to close at 24,718.60, as profit-taking emerged following last week's rally. The index still trades above key moving averages—the 20-day SMA at 24,832 and 40-day EMA at 24,510—indicating underlying technical strength. Even on intraday timeframes, Nifty remains firmly positioned, with the 20-hour SMA at 24,932 and the 40-hour EMA at 24,908 solidly in play. On the momentum front, both the daily RSI (55) and hourly RSI (34) point to a temporary lull in buying enthusiasm. Similarly, while the daily MACD (157) remains positive, its hourly counterpart is deeply negative at –92, suggesting a short‑term cooling-off phase. Structurally, although the earlier falling‑wedge breakout reached around 25,200, there were no fresh follow-throughs on intraday charts. The action appears range‑bound between 24,600–24,950 until new catalysts emerge. The derivatives landscape paints a cautious picture. Call OI stands at 12.14 crore, while Put OI is 8.82 crore, yielding a Put‑Call Ratio of around 0.71—slightly bullish but not overly aggressive. The options trend remains bearish, with a CE‑PE OI differential at –3.32 Cr. Notable Call concentrations are at strikes 25,000 and 26,000, with sizeable recent Call additions of 3.55 Cr. On the Put side, the largest OI and fresh additions are at 22,800, indicating confidence in support levels well below current prices. Volatility is creeping higher—India VIX is up 7.6 % to 15.08, reflecting rising caution amid global uncertainty. A tentative US–China 'framework" trade agreement arrived in London this week, easing rare‑earth export restrictions and maintaining a 90‑day tariff truce, supporting global sentiment, though analysts warn it lacks firm enforcement. Concurrently, Middle East tensions surged after an Israeli strike on Iran's nuclear site, lifting crude oil by 7–11 % and pressuring risk assets. This duality—dovish trade news versus geopolitical alarms—kept U.S. and European markets modest, with safe‑haven flows into gold and bonds offsetting equity gains. Emerging‑market currencies like the rupee softened beyond ₹86 per US dollar due to a crude‑driven import squeeze and investor caution. Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441. 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.
Business Upturn
3 days ago
- Business
- Business Upturn
Jubilant Ingrevia shares jump nearly 5% after block deal worth Rs 666.88 crore
By Aditya Bhagchandani Published on June 13, 2025, 09:37 IST Shares of Jubilant Ingrevia Ltd surged 4.52% to ₹712.80 on Friday morning following a large block deal involving 98.65 lakh shares. The deal, valued at ₹666.88 crore, saw shares exchanged at ₹676 apiece — slightly below the previous close of ₹682. This transaction is part of the Bhartia family's broader stake sale across its group companies, including Jubilant FoodWorks and Jubilant Pharmova, as reported by CNBC-TV18. Morgan Stanley acted as the broker for the block deals. Jubilant Ingrevia Block Deal: 98.65 lakh shares worth Rs 666.88 crore change hands Jubilant Ingrevia, a key player in life sciences ingredients and specialty chemicals, has been expanding its global reach and innovation pipeline. Despite the discount pricing, strong investor demand for the stock pushed it nearly 5% higher, making it one of the top gainers on the NSE today. The company's market cap stood at ₹112.80 billion, with shares touching an intraday high of ₹724. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
