Latest news with #VaibhavVidwani
Mint
15-05-2025
- Business
- Mint
Stock market today: 28 stocks hit 52-week lows, 92 stocks at 52-week highs as Sensex, Nifty 50 end over 1% higher
Stock market today: On Thursday, 92 stocks hit their 52-week high, including APL Apollo Tubes Ltd, Bharat Electronics Ltd, Dalmia Bharat Ltd, ICICI Bank Ltd, Max Financial Services Ltd, Shree Cement Ltd, and Solar Industries India Ltd. In contrast, 28 stocks touched 52-week lows, with notable mentions like Spectrum Electrical Industries Ltd, Ratnabhumi Developers Ltd, and Wendt (India) Ltd. Today, the Indian stock market ended on a high note, with the Nifty 50 surpassing the 25,000 milestone, gaining 1.6% (an increase of 395 points), while the Sensex rose by 1,200 points (1.48%) to finish at 82,530.74. This represented the highest point for the Nifty 50 in almost seven months. According to experts, the surge in the market was primarily fueled by optimism following US President Donald Trump's statement that India had proposed a deal to eliminate tariffs on US products, raising hopes for a potential zero-tariff trade agreement between the two nations. Vaibhav Vidwani, Research Analyst at Bonanza, said that declining crude oil and gold prices, substantial inflows from foreign institutional investors, a weakening US dollar, and easing inflation data bolstered expectations for potential rate cuts by the RBI, further driving upward momentum. The market capitalization increased by ₹ 5 lakh crore, indicating strong buying interest. 'The benchmark index outperformed the broader market, buoyed by growing optimism around reduced operational costs and a potentially more accommodative monetary policy stance. Investor attention is now turning to the upcoming speech by the Federal Reserve Chair, which is anticipated to provide further clarity on the future policy trajectory, particularly in light of the recent easing in US inflation data,' said Vinod Nair, Head of Research, Geojit Investments. According to Rupak De, Senior Technical Analyst at LKP Securities, the recent consolidation breakout, along with a move above the swing high, has increased the probability of the index reaching 25,690 in the short term. Immediate resistance is placed at 25,360, above which further upside potential may be unlocked. 'On the downside, 24,400 is expected to act as strong support in the short to medium term. A decisive break below this level could cause the ongoing rally to lose momentum. Until then, a buy-on-dips strategy is likely to remain effective,'said De.
India Today
13-05-2025
- Business
- India Today
Sensex ends 1,282 points lower, Nifty below 24,600; Infosys down nearly 4%
Benchmark stock market indices closed lower on Tuesday, with Sensex and Nifty shedding over 1.5% as investors indulged in profit booking. IT stocks took the worst hit, further driving the decline on Dalal S&P BSE Sensex was down by 1,281.68 points to end at 81,148.22, while the NSE Nifty50 lost 346.35 points to close at 24, Kewat, Technical and Derivatives Analyst, Ashika Institutional Equity, said that geopolitical tensions remained in focus as market participants monitored the fragile ceasefire between India and Pakistan, adding to the cautious Sun Pharmaceuticals emerged as the top gainer on Sensex, rising 0.84%, followed by Adani Ports which added 0.48%. Bajaj Finance edged up 0.29%, while State Bank of India gained a modest 0.04%. Tech Mahindra rounded out the gainers with a marginal increase of 0.03%.Infosys witnessed the steepest decline, plunging 3.54%, followed by PowerGrid Corporation which dropped 3.40%. Eternal fell 3.38%, HCLTech declined 2.94%, and Tata Consultancy Services lost 2.88%, completing the list of worst performers for the day."The downside was primarily triggered by profit-taking and cautious investor sentiment following the sharp run-up, coupled with concerns over mixed corporate earnings results and global cues," said Vaibhav Vidwani, Research Analyst at Bonanza. Nifty Midcap100 and Nifty Smallcap100 indices ended the day on a positive note, gaining 0.19% and 0.81% respectively, while India VIX declined 1.04%.advertisementAmong sectoral indices, Nifty Media led the gainers with a rise of 1.66%, followed by Nifty PSU Bank which climbed 1.56%. Nifty Pharma advanced 1.22%, while Nifty Healthcare Index rose 0.97%. Other sectors that closed in the green included Nifty Consumer Durables, which edged up 0.04%.Nifty IT fell 2.42%, while Nifty FMCG dropped 1.34%. Nifty Auto lost 1.00%, followed by Nifty Oil & Gas which declined 0.91%. Nifty Private Bank and Nifty Financial Services fell 0.99% and 0.88% respectively, while Nifty Metal slipped 0.89% and Nifty Realty decreased 0.72%."Going forward, investors will closely watch upcoming inflation data and quarterly earnings for further direction, with expectations of volatility but underlying bullishness intact," said Vidwani. (Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)Must Watch
Mint
01-05-2025
- Business
- Mint
Is it wise to buy Canara Bank shares ahead of Canara Robeco IPO launch? EXPLAINED
Canara Robeco IPO: Canara Robeco Asset Management Company, the mutual fund arm of state-run lender Canara Bank, has filed draft papers for its initial public offering (IPO) with the capital markets regulator Securities & Exchange Board of India (SEBI). Canara Robeco IPO will be completely an offer for sale (OFS) of 4.98 crore equity shares by promoters with no fresh issue component, according to the Draft Red Herring Prospectus (DRHP). Under the OFS, Canara Bank is set to divest 2.59 crore equity shares, while ORIX Corporation Europe N.V. (formerly known as Robeco Groep N.V.) plans to sell 2.39 crore shares. Canara Bank possesses a 51% interest in Canara Robeco Asset Management Company, whereas Orix Corporation controls the rest of the ownership in the AMC. Since the IPO is entirely an OFS, the company will not receive any funds from the public issue, and the proceeds will go to the selling shareholders. Canara Robeco IPO is estimated to be around ₹ 800-1,000 crore, according to media reports and talks on Dalal Street. As Canara Bank is selling around 52% of the OFS shares, the lender is estimated to receive approximately ₹ 500 crore from the public issue. Additionally, Canara HSBC Life Insurance Company has also filed a DRHP with SEBI for an IPO, which is again entirely an OFS. The OFS includes up to 13,77,50,000 shares by Canara Bank, up to 47.50 lakh shares by HSBC Insurance (Asia-Pacific) Holdings Limited, and up to 9.50 crore shares by Punjab National Bank. The IPO could be valued around ₹ 16,500 crore, with Canara Bank expected to raise approximately ₹ 2,200 crore from its stake sale, according to Vaibhav Vidwani, Research Analyst at Bonanza Group. Experts debate if investing in Canara Bank shares ahead of Canara Robeco IPO would be a tactical decision or not. Seema Srivastava, Senior Research Analyst at SMC Global Securities explained that investing in Canara Bank shares ahead of the Canara Robeco AMC IPO could be a strategic move, given the bank's stake sale in the AMC would lead to raising of significant capital which can be utilise to strengthen the lender's balance sheet. Canara Robeco IPO, being a 100% OFS, means the Canara Bank will receive the proceeds from the IPO, which will help strengthen its balance sheet and improving its capital adequacy ratio. 'This influx of capital can help Canara Bank expand its lending capacity, invest in growth initiatives, and reduce its dependence on external funding. With a stronger balance sheet, the bank can lower borrowing costs and enhance its overall financial stability,' Srivastava said. According to her, with its strong fundamentals and growth potential, investing in Canara Bank shares ahead of the Canara Robeco AMC IPO can be a good investment strategy for long-term investors. 'The bank's ability to drive growth initiatives and improve its financial health makes it an attractive investment opportunity. Overall, Canara Bank's stake sale in Canara Robeco AMC is likely to have a positive impact on its balance sheet and growth prospects, making it a good investment option for those looking to invest in the banking sector. By investing in Canara Bank shares, investors can benefit from the bank's strong market presence and growth potential,' added Srivastava. Meanwhile, Prashanth Tapse, Research Analyst, Senior Vice President of Research at Mehta Equities said that before considering if investing in Canara Bank shares ahead of Canara Robeco IPO is a wise investment strategy, investors should understand that Canara Bank is trying to monetise its investment in Canara Robeco AMC, and potentially projecting it as an unlocking value for shareholders. 'Given that the parent owns ~51% stake in the AMC business can influence the bank's valuation as a one-time benefit, which can also be discounted in the current price. More upside in the strategy could come depending on many factors like IPO market momentum, peer valuations and overall market sentiments. On the risk part, delay in IPO process due to regulatory approvals can reduce the strategy return expectations,' Tapse said. As of date, there are four AMC listed stocks for reference on valuations - HDFC AMC, Nippon Life India Asset Management, UTI AMC & Aditya Birla Sun Life AMC - trading in the range as high as 11.5x and as low as 3x, based on price-to-book (P/B) value comparison, he noted. 'Considering the AUM size of Canara Robeco AMC, which is approximately ₹ 1 lakh crore as of FY25, we can assume the IPO price should be in the valuation range of ~3-7x P/BV. However, it is too early to conclude this will be a wise investment strategy,' advised Tapse. On the technical charts, the trend for Canara Bank shares remains bullish. "Canara Bank witnessed a breakout from an Inverse Head and Shoulders pattern on 17th April 2025, supported by rising volumes—indicating a potential shift in trend. Post-breakout, the stock is currently experiencing a throwback move, which is a typical retest of the neckline. A bounce is anticipated from the neckline level, which also coincides with the 50 EMA, reinforcing the zone as a strong support area," said Kunal Kamble, Sr. Technical Research Analyst at Bonanza Group. "The stock is trading above the 50 EMA, a sign of a positive trend, and reflects continued bullish sentiment, he added. Meanwhile, the RSI had entered the overbought zone, triggering some profit booking," Kamble added. Despite the short-term pullback, the overall trend remains intact as long as the stock sustains above the ₹ 90 level, he opined. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision. First Published: 1 May 2025, 01:59 PM IST
Mint
29-04-2025
- Business
- Mint
64 stocks hit 52-week highs, 33 stocks at 52-week lows as stock market ends flat
Stock market today: On Tuesday, 64 stocks hit their 52-week high, ICICI Bank Ltd, Coromandel International Ltd, Mazagon Dock Shipbuilders Ltd, Max Financial Services Ltd, Solar Industries India Ltd, and Paradeep Phosphates Ltd. In contrast, 33 stocks touched 52-week lows, including some notable names like Cubex Tubings Ltd, Teamo Productions HQ Ltd, and Uma Exports Ltd. The benchmark indices in the domestic market, Nifty 50 and Sensex, lost their earlier gains to close flat on Tuesday as concerns regarding tensions with Pakistan dampened enthusiasm surrounding a potential trade agreement with the US. The Nifty 50 increased by 0.03% to reach 24,335.95, while the Sensex saw a 0.09% rise to 80,288.38. Initially, both indices climbed approximately 0.5% in early trading. US Treasury Secretary Scott Bessent mentioned that one of the initial trade agreements could potentially be finalised with India as early as this week or next week. Indian officials noted on Tuesday that bilateral discussions have shown "positive progress." Vaibhav Vidwani, a Research Analyst at Bonanza, pointed out that the market rally was widespread, spearheaded by major stocks like Reliance Industries, which climbed by more than 2.26%, along with rises in the IT and Defence sectors. Defence stocks, including HAL and Bharat Electronics, experienced gains in light of escalating geopolitical tensions. The market's upward movement was fueled by reduced global trade tensions and robust Q4FY25 earnings reports from key corporations, notably Reliance Industries. Improving domestic economic metrics and the anticipation of additional RBI rate cuts also encouraged buying at appealing valuations following a volatile beginning to the year. According to Rupak De, Senior Technical Analyst at LKP Securities, the index remained choppy within a narrow range throughout the day before closing with a spinning top-like formation. Consolidation may continue in the short term, especially as the index has yet to give a decisive breakout above 24,550, where the 61.80% retracement level lies. On the lower end, support is placed at 24,250; a breach below this level could trigger increased selling pressure in the market. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision. First Published: 29 Apr 2025, 03:34 PM IST
