tock Market today | Share Market Live Updates - Find here all the live updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for 3 June, 2024 -- Indian benchmark indices, Sensex and Nifty, surged over 2% on Monday following exit polls predicting a decisive victory for the Bharatiya Janata Party-led National Democratic Alliance. The BSE Sensex jumped 1,950 points to 75,911.54, and the NSE Nifty climbed 636.10 points to 23,166.80 in early trade. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted that the exit polls’ prediction of around 360 seats for the NDA eliminated market jitters, boosting investor confidence. He expects large-cap stocks in financials, capital goods, automobiles, and telecom sectors to lead the rally, supported by an 8.2% GDP growth reported on Friday. Kotak Alternate Asset Managers forecast the Nifty50 reaching 24,600 within a year but cautioned about midcap and smallcap froth. Analysts suggest that foreign portfolio investors, previously net sellers, may turn buyers amid strong GDP growth, manageable inflation, political stability, and expectations of the RBI ending its monetary tightening.
Puravankara stock surges 3.26% on the NSE, trading at ₹418.05. The company had acquired 12.75 acres in the Mumbai Metropolitan Region (MMR) to develop a residential project, with an estimated revenue potential of ₹4,000 crore.
June 03, 2024 09:47Stock market live updates: Silver closes flat at $30Silver prices were steady as investors awaited more US economic data to determine when the Federal Reserve could begin relaxing monetary policy this year. The personal consumption expenditures (PCE) price index rose 0.3% last month, according to the Commerce Department’s Bureau of Economic Analysis on Friday, matching the unrevised gain in March. Traders increased their wagers that the Federal Reserve will drop interest rates for the first time in September, after statistics revealed that inflation made some headway towards the Fed’s 2% target last month. The CME FedWatch Tool shows that traders are currently pricing in a 54% possibility of a rate drop by September.
Key economic data slated for release includes German Final Manufacturing PMI, Final Manufacturing PMI from Euro Zone and Final Manufacturing PMI, ISM Manufacturing PMI, ISM Manufacturing Prices from US Zone.
June 03, 2024 09:46Stock market live updates: Gold down at $2327Gold prices remained stable at $2,330 as investors assessed recent US inflation data and looked ahead to more economic data for clues on the probable timing of the Fed’s monetary policy easing. Last Friday, core PCE prices fell in April compared to March, while headline monthly and yearly rates stayed unchanged, as expected. This brought additional relief that the Fed has room to lower interest rates this year. The ECB is likely to decrease interest rates this week, but uncertainties about future movements beyond June have grown after inflation surged faster than projected in May. The Bank of Canada is also expected to lower rates this week.
Key economic data slated for release includes German Final Manufacturing PMI, Final Manufacturing PMI from Euro Zone and Final Manufacturing PMI, ISM Manufacturing PMI, ISM Manufacturing Prices from US Zone. Read more
June 03, 2024 09:44Stock market live updates: Welspun Corp associate company in multi contracts sign-off with Aramco worth ₹3,670 crore; stock rises 1.83% on NSE, trading at ₹559Associate company of Welspun Corp, East Pipes Integrated Company for Industry (EPIC), Saudi Arabia’s manufacturer of HSAW Pipes, has announced a multi contracts sign-off with Saudi Arabian Oil Co. (Aramco) with value exceeding SAR 1.65 Billion (approx. ₹3,670 crore) inclusive of value added tax for manufacturing and supply of steel pipes. The duration of the contracts is 19 months.
Welspun Corp stock rises 1.83% on the NSE, trading at ₹559.
June 03, 2024 09:41Stock market live updates: Adani Ports and Special Economic Zone (APSEZ) recorded 35.8 MMT of cargo volumes in May’24 June 03, 2024 09:41Stock market live updates: JTL Industries completes Phase 1 of expansion at its recently acquired subsidiary, Nabha Steels and Metals; stock up 1.60% on NSE, trading at ₹212.5 June 03, 2024 09:35Stock market live updates: Bajaj Auto records total sales of 3,55,323 units in May ‘24 as against 3,55,148 units in May ‘23; stock surges 3.25% on the NSE, trading at ₹9,379.95 June 03, 2024 09:34Stock market live updates today: Top gainers and losers on the NSE at 9.30 amTop gainers: Adani Ports (8.39%), Shriram Finance (7.32%), Power Grid (6.79%), Adani Enterprises (6.76%), BPCL (5.85%)
Top losers: Eicher Motors (-0.55%), LTIMindtree (0.04%)
June 03, 2024 09:33Stock market live updates: Vijay Textiles shares touch lower circuit, sheds 4.98 p.c. to trade at Rs 15.26. Falls to 52-week low June 03, 2024 09:32Stock market live updates: Semiconductor design firm Moschip Technologies gain 9.98 p.c. in early trade. shares trading at Rs 142.20, touching upper circuit June 03, 2024 09:30Stock market live updates: Crude oil futures trade marginally lower despite OPEC+ deciding to extend production output cuts into 2025Crude oil futures traded marginally lower on Monday morning despite OPEC+ deciding to extend production output cuts into 2025. At 9.17 am on Monday, August Brent oil futures were at $81.08, down by 0.04 per cent, and July crude oil futures on WTI (West Texas Intermediate) were at $76.96, down by 0.04 per cent. June crude oil futures were trading at ₹6403 on Multi Commodity Exchange (MCX) during the initial hour of trading on Monday morning against the previous close of ₹6453, down by 0.77 per cent, and July futures were trading at ₹6396 against the previous close of ₹6450, down by 0.84 per cent.
June 03, 2024 09:29Stock market live updates: Sensex up over 2000 pts, Nifty jumps 600 points June 03, 2024 09:29Stock market live updates: Nifty Bank, Nifty Financial services, Nifty Realty, Nifty PSU Bank up 3-5% June 03, 2024 09:22Stock Market Live Today: OPENING BELL: Market rally: Sensex up nearly 2,000 points, Nifty gains 636 points on exit poll boostIndian benchmark indices, Sensex and Nifty, surged over 2% on Monday, driven by exit polls predicting a decisive victory for the Bharatiya Janata Party-led National Democratic Alliance.
The 30-share BSE Sensex jumped 1,950 points to reach 75,911.54 in early trade, while the NSE Nifty climbed 636.10 points to 23,166.80.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, commented, “Exit polls suggesting a clear win for the NDA with around 360 seats eliminate the election jitters that have been affecting the markets since May. This is a significant boost for the bulls, likely triggering a substantial rally on Monday.
“Large-cap stocks in financials, capital goods, automobiles, and telecom sectors are expected to lead the rally. The bulls will also be supported by the better-than-expected 8.2% GDP growth reported after market hours on Friday. Both technically and fundamentally, the market is set for a rally,” he added.
Kotak Alternate Asset Managers forecast the Nifty50 reaching 24,600 within a year, while cautioning about the current froth in the midcap and smallcap space.
Across the Asia-Pacific region, except China, equities are generally firm, rising between 0.75% and 2%.
Analysts suggest that foreign portfolio investors, previously net sellers, may shift their strategy and become buyers.
Vipul Bhowar, Director of Listed Investments at Waterfield Advisors, stated, “High valuations and weak earnings in the financial and IT sectors, where FPIs have a significant allocation, combined with political uncertainties, global risk-off sentiment, and the allure of Chinese markets, have led to FPI selling.
However, strong GDP growth, manageable inflation, political stability, and the expectation that the RBI has concluded its monetary tightening create a positive outlook for the Indian economy, signaling a potential reversal from their net selling in May,” he added.
June 03, 2024 09:21Stock Market Live Today: Adani stocks soar on opening trades, up 8-15% June 03, 2024 09:19Stock Market Live Today: Nifty, Sensex open at record levels; Nifty above 23,300 and Sensex above 76,500 June 03, 2024 09:16Stock Market Live Today: Motilal Oswal reduces Titan’s earnings estimatesMotilal Oswal has reduced Titan’s earnings estimates by 4% in FY25 and 3% in FY26 but has retained its ‘buy’ recommendation on the stock with a price target of Rs 4000.
June 03, 2024 09:16Stock Market Live Today: Dividend datesEx-Dividend 4 June 2024 (Tomorrow)
Last date for Cum-Dividend Today
Foseco India Ltd.
Dividend Per Share Rs.25
Previous day Closing Price – Rs. 3597.9
ITC Ltd.
Dividend Per Share Rs.7.5
Previous day Closing Price – Rs. 426.15
[03/06, 8:19 am] +91 95946 47102: Daily Market Update- 03 June 2024
June 03, 2024 09:15Stock Market Live Today: Global Markets trendStocks in the Asia-Pacific region traded higher on Monday, tracking last week’s positive close and renewed rate-cut hopes by the US Federal Reserve.
Japan’s benchmark Nikkei 225 was 524 points or 1.36% up at 39,012, and Australia’s S&P ASX 200 was 60.76 points or 0.79% higher at ,7762, as of 06:53 a.m. Indian time.
A renewed bout of volatility gripped US stocks in the final stretch of Friday session, with most of them ending in the final 20 minutes of trading.
The S&P 500 Index and Nasdaq Composite rose 0.80% and 1.51%, respectively, as of Friday, while Dow Jones ended little changed.
Brent crude was trading 0.33% lower at $81.38 a barrel. Gold rose 0.16% to $2,331.00 an ounce.
India’s benchmark equity indices erased most of their early losses to end marginally higher on Friday ahead of the gross domestic product data release later in the day. On a weekly basis, the Nifty recorded its worst fall since the week ended May 10.
The NSE Nifty 50 closed 0.19% or 42.05 points higher at 22,530.70, while the S&P BSE Sensex ended 0.10% or 75.71 points up at 73,961.31.
Overseas investors turned net buyers on Friday after two days of selling. Foreign portfolio investors mopped up stocks worth Rs 1,613.2 crore, while domestic institutional investors stayed net buyers for nine straight sessions and bought equities worth Rs 2,114.2 crore, the NSE data showed.
The Indian rupee weakened by 15 paise to close at 83.46 against the US dollar.
June 03, 2024 09:14Stock Market Live Today: Indian ADR Check· ICICI Bank +0.38%
· HDFC Bank +1.17%
· Infosys +1.30%
· Wipro +0.59%
· Dr Reddy’s Lab -1.69%
June 03, 2024 09:14Stock Market Live Today: Stocks To Watch out for todayAutomakers in focus after May sales data announcement.
Canara Bank: The company is to dilute a 14.5% stake in the arm of Canara HSBC Life through an IPO.
Aurobindo Pharma: The company’s arm executed a master service pact with Merck Sharpe and will invest Rs 1,000 crore for the manufacturing facility.
REC: The company approved raising up to Rs 1.45 lakh crore through bonds and appointed Harsh Baweja as CFO.
Inox Wind: The board of the company has approved raising Rs 1,000 crore in one or more tranches through preference shares. The fundraising is subject to all requisite approvals, including those of the shareholders.
Adani Ports and Special Economic Zone: The company’s arm has signed a 30-year concession pact with the Tanzania Ports Authority for container terminals.
Wipro: The company has expanded its retail media offering by partnering with Cisco and AT&T.
NTPC: The company commissioned the second and last part capacity of 33 MW out of the 90 MW Anta Solar PV Project in Rajasthan. The company’s total capacity on a standalone and group basis now stands at 59,168 MW and 76,048 MW, respectively.
Bank of India: The company is to raise MCLR by 5 bps across most tenures, effective June 1.
Angel One: The company arm incorporated a wholly owned subsidiary for the distribution of financial products and services.
PNC Infratech: The company arm gets a one-time settlement amount worth Rs 391 crore from NHAI.
June 03, 2024 09:13Stock Market Live Today: Bulk DealsBlue Cloud Softech Solutions: Supraja Business Consultants sold 13 lakh shares (0.59%) at Rs 88.7 apiece, while Duranta Infrastructure sold 12 lakh shares (0.55%) at Rs 88.7 apiece.
Berger Paints: Integrated Core Strategies (Asia) bought 92.85 lakh shares (0.79%) at Rs 460.94 apiece.
CarTrade Tech: Cmdb Ii sold 18.76 lakh shares (4%) at Rs 900 apiece, and Tt Emerging Markets Unconstrained Fund bought 5.46 lakh shares (1.16%) at Rs 900 apiece.
Indraprastha Gas: Integrated Core Strategies (Asia) bought 99.72 lakh shares (1.42%) at Rs 442.12 apiece.
Jindal Stainless: BNP Paribas Financial Markets sold 52.04 lakh shares (0.63%) at Rs 784.95 apiece; Copthall Mauritius Investment sold 49.83 lakh shares (0.6%) at Rs 793.13 apiece; and Integrated Core Strategies (Asia). sold 43.95 lakh shares (0.53%) at Rs 792.23 apiece.
Phoenix Mills: BNP Paribas Financial Markets sold 14.67 lakh shares (0.82%) at Rs 3092.11 apiece, Copthall Mauritius Investment sold 9.27 lakh shares (0.51%) at Rs 3094.54 apiece, and Integrated Core Strategies (Asia) sold 12.38 lakh shares (0.69%) at Rs 3093.85 apiece.
PB Fintech: BNP Paribas Financial Markets sold 27.33 lakh shares (0.6%) at Rs 1287.33 apiece, Copthall Mauritius Investment Limited sold 29.64 lakh shares (0.65%) at Rs 1291.67 apiece, and UBS Principal Capital Asia Limited sold 26.66 lakh shares (0.59%) at Rs 1292.89 apiece.
Sundaram Finance: BNP Paribas Financial Markets sold 9.27 lakh shares (0.83%) at Rs 4270.28 apiece, Copthall Mauritius Investment Limited sold 7.73 lakh shares (0.69%) at Rs 4279.69 apiece, Integrated Core Strategies (Asia) Pte. Ltd. sold 7.57 lakh shares (0.68%) at Rs 4280.45 apiece, and UBS Principal Capital Asia Limited sold 9.57 lakh shares (0.86%) at Rs 4277.64 apiece.
Torrent Power: Integrated Core Strategies (Asia) Pte. Ltd. sold 24.69 lakh shares (0.51%) at Rs 1498.79 apiece.
Thermax: Integrated Core Strategies (Asia) Pte. Ltd. sold 10.34 lakh shares (0.86%) at Rs 5403.76 apiece.
June 03, 2024 09:13Stock Market Live Today: Insider TradesChambal Fertilizers and Chemicals: Promoter Zuari Industries created a pledge for 17 lakh shares on May 28, Promoter Zuari Industries created a pledge for 17 Lakh shares.
Kfin Technologies: Promoter General Atlantic Singapore Fund Pte. sold 1 crore shares.
June 03, 2024 09:12Stock Market Live Today: Trading TweaksPrice Band Change from 5% to 20%: PTC India Financial Services.
Ex/record dividend: Rallis India, Sundaram Fasteners, Anand Rathi Wealth, D. B Corp, ITC
Ex/record Buyback: Anand Rathi Wealth.
June 03, 2024 09:12Stock Market Live Today: F&O CuesNifty June futures up by 0.34% to 22,700.7 at a premium of 170 points.
Nifty June futures open interest up by 8.16%.
Nifty Bank June futures up by 0.7 % to 49,352.35 at a premium of 458.4 points.
Nifty Bank June futures open interest down by 7.34%.
Nifty Options June 6 Expiry: Maximum Call open interest at 23,000 and Maximum Put open interest at 20,200.
Bank Nifty Options June 5 Expiry: Maximum Call Open Interest at 57,000 and Maximum Put open interest at 40,000.
June 03, 2024 09:11Stock Recommendations: Morgan Stanley maintains overweight call on Apollo HospitalsAPOLLOHOSP: Morgan Stanley maintains an overweight call on Apollo Hospitals. Says co poised to achieve mid-teens growth in FY25, adding that co also has a clear strategy to achieve EBITDA breakeven for its 24/7 online platform.
June 03, 2024 09:09Commodities Market Updates: Iron ore slides to over two-week low amid weakening China demandIron ore futures prices slipped to their lowest levels in more than two weeks on Monday, as signs of weakening steel demand in top consumer China broadly weighed on sentiment.
As of 0247 GMT, the most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) traded 1.62% lower at 852.5 yuan ($117.66) a metric ton, the lowest since May 15.
The benchmark July iron ore on the Singapore Exchange was 1.56% lower at $113.35 a ton, also the lowest since May 15. Prices slid more than 4% last week. - Reuters
June 03, 2024 09:04Currency Market Updates: Rupee has opened at Rs 82.99 per dollar versus Friday close of Rs 83.46 June 03, 2024 08:54Stock Market Live Today: Brokerages on Exit PollsNomura On Exit Polls
Equity Market To React Positively If Exit Poll Results Translate To Actual Results
FII Flows To Improve If NDA Forms A Stable Government As Predicted
Infra, Manufacturing & Capex Theme Ssectors To Outperform In Near Term
Jefferies On Exit Polls
Numbers Shown In Exit Polls Higher Than Expectations
Will Be Sentimental Positive For Capex Stock If Actual Results Mirror Exit Polls
SMID Caps Could Take A Near-term Breather, Post The Election Rally
Bernstein on Exit Polls
Given that exit poll trends translate into results on Tuesday, continuation of relief rally can happen, with market touching 23.5k briefly before profit booking takes over
A greater margin of victory can increase magnitude but not duration of rally
IIFL Sec On Exit Polls
There Could Be Attempts At Accelerated Reforms If PM Modi Is Re-elected
Key Sectors In Focus Are Electricity And Agriculture
Positive On Sectors Like Infrastructure, Cement, Private Banks
Positive On Sectors Like NBFCs, Select Industrials
Negative On IT & Chemicals & Neutral On Most Consumer Sectors
Kotak Inst. On Exit Polls
Government Likely To Focus On Investment-led Growth
Find Most Sectors And Stocks Overvalued Relative To The Fair Value Of The Stocks
A Large BJP Victory May Sustain Rich-to-bubble Multiples In Parts Of The Market
MOSL On Exit Polls
Victory Of PM Modi/BJP Augurs Well For The Economy & Capital Markets
Fundamentally, India Is Witnessing Its Own Mini-Goldilocks Moment
Our Model Portfolio Remains Aligned With The Key Domestic Cyclical Themes
Remain OW On Financials, Consumption, Industrials, Real Estate & PSU Banks
Top Ideas In Large Caps Are ICICI Bank, SBI, L&T, Coal India, M&M
Top Ideas In Large Caps Are Adani Ports, ABB, HPCL & Hindalco
Top Ideas In Midcaps Are Indian Hotels, Godrej Prop, Global Health, KEI Ind
Top Ideas In Midcaps Are PNB Housing, Cello World & Kirloskar Oil
MS on Suzlon
Initiate OW, TP Rs 58.5
Well positioned to benefit from India’s energy transition
Co much stronger after deleveraging, & leaner after cutting fixed operating costs
Think market has not fully appreciated its growth potential yet
Earnings to grow @57% CAGR in F24-27
CLSA on Apollo Hospitals
Upgrade to Buy, TP Rs 7150
Targeting 15% revenue growth in hospitals driven by volume growth
Guided Ebitda margin of 25% by year-end FY25 for its hospital segment.
It expects Apollo 24/7 to break even in next 6-8 quarters
Macquarie on Aurubindo Pharma
O-P, TP Raised to Rs 1385
Announced signing master service agreement with Merck to manufacture biologics products
Co plans to spend Rs10bn in capex
1st of its kind biologics CMO contract
Est. potential upside of Rs170/sh from contract
June 03, 2024 08:53Stock Market Live Today: Week ahead: Wall Street sees declines as treasury yields riseGlobal Market Outlook from Alex Volkov, Market Analyst at VT Markets
Wall Street endured a tough week, marked by significant declines driven by rising Treasury yields and hawkish comments from Federal Reserve officials. The market sentiment was further dampened by higher-than-expected inflation data from Germany and Australia, escalating global inflation concerns.
As the market braces for the key US personal consumption expenditures (PCE) inflation data, divided opinions persist on whether the Federal Reserve will initiate the first rate cut in September. The upcoming week promises to provide crucial insights into inflation trends and economic stability.
China this week
Recent economic data from China has been mixed, with strong first-quarter GDP and trade activities contrasted by weak domestic demand. The official PMI numbers for May were disappointing, with the manufacturing PMI falling to 49.5 and the services PMI also weaker than expected. Expectations for the Caixin manufacturing PMI, which will be released on 3 June 2024 at 1:45 AM GMT, point to a slight increase to 51.5 from 51.4.
The manufacturing sector, a vital component of China’s economic health, has shown signs of contraction. This is reminiscent of the slowdown seen in 2015 when similar PMI figures preceded a period of economic restructuring and stabilization.
Traders are keenly watching for any signs of recovery in the services sector, with the services PMI due on 5 June 2024. The services sector has become increasingly important in offsetting manufacturing weaknesses.
Europe outlook
During the April policy meeting, the European Central Bank (ECB) displayed confidence in controlling inflation and hinted at a potential rate cut. A 25 basis point rate cut is highly probable, with markets pricing a 97% chance.
Traders will be focused on the upcoming guidance and fresh economic projections for growth and inflation, with the interest rate decision announcement scheduled for 6 June 2024.
The ECB’s potential rate cut comes at a critical juncture, drawing parallels to the 2014 period when the ECB implemented negative interest rates to combat deflationary pressures and stimulate growth. The market will be watching closely to see if the ECB’s measures can successfully navigate the current economic landscape marked by persistent inflation and sluggish growth.
In April, the US economy added 175,000 jobs, with the unemployment rate rising to 3.9%. Federal Reserve officials have suggested that further rate hikes might be necessary, but a weakening labor market could prompt quicker rate cuts.
Expectations for May include an addition of 180,000 jobs, a stable unemployment rate at 3.9%, and unchanged participation and hourly earnings rates, with the data to be released on 7 June 2024.
This employment data will be closely scrutinised, similar to the post-2009 recovery period when job creation and labor market dynamics played pivotal roles in shaping monetary policy. The labor market’s performance will be a key indicator of economic resilience and will influence the Federal Reserve’s decisions on future rate adjustments.
June 03, 2024 08:52 Stock Market Live Today: Fund Houses RecommendationsMS on Suzlon: Initiate Overweight on Company, target price at Rs 58.5/Sh (Positive)
MS on Apollo Hospitals: Upgrade to Overweight on Company, target price at Rs 7181/Sh (Positive)
CLSA on Apollo Hospitals: Upgrade to Buy on Company, target price at Rs 7150/Sh (Positive)
Jefferies on Apollo Hospitals: Maintain Buy on Company, target price at Rs 7200/Sh (Positive)
Citi on GDL: Maintain Buy on Company, target price at Rs 127/Sh (Positive)
Macquarie on Auro Pharma: Maintain Buy on Company, target price at Rs 1385/Sh (Positive)
Nomura on Exit Polls: Equity market to react positively if exit poll results translate to actual results, positive on Infrastructure, Manufacturing and Capex theme (Positive)
MOSL on Exit Polls: NDA forecasted to win 370 seats as per average of all exit polls, positive on Industrials, Consumer, Real Estate and PSU sectors (Positive)
MOSL on Exit Polls: Exit polls indicate comfortable win for BJP-led NDA, positive on Industrials, Consumer and Materials sectors (Positive)
Bernstein on Exit Polls: Market might touch 23.5k briefly before profit booking takes over, positive on Manufacturing sector (Positive)
Jefferies on Exit Polls: Exit Poll numbers for BJP/NDA higher than expectations, positive on Real Estate, Power and Private Banking sectors (Positive)
GS on Elections: Indian assets offer some of the most resilient return profiles across the EM world’ (Positive)
BofA on Elections: India is well positioned to scale manufacturing in select sectors, positive on Auto, Pharma and Textiles sectors (Positive)
JP Morgan on Elections: Upgrading Industrial sectors to overweight, positive on Industrials, Auto and Banking sectors (Positive)
Jefferies on Adani Ent: Maintain Buy on Company, target price at Rs 3800/Sh (Positive)
Jefferies on Adani Port: Maintain Buy on Company, target price at Rs 1640/Sh (Positive)
Jefferies on Adani Energy: Maintain Buy on Company, target price at Rs 1365/Sh (Positive)
Jefferies on Ambuja Cement: Maintain Buy on Company, target price at Rs 735/Sh (Positive)
Macquarie on Titan: Maintain Buy on Company, target price at Rs 4000/Sh (Neutral)
CLSA on Titan: Maintain Buy on Company, cut target price at Rs 4045/Sh (Neutral)
JP Morgan on Apollo Hospitals: Maintain Overweight on Company, cut target price at Rs 6800/Sh (Neutral)
June 03, 2024 08:37Stock market live updates: Stocks that will see action today: June 3, 2024IT major Infosys has been fined $3,142.02 (around ₹2.60 lakh) by the Texas Comptroller of Public Accounts, US. The penalty was imposed due to non-payment of sales tax for the period of April 2024, according to a regulatory filing. Read more
June 03, 2024 08:09Stock market live updates: Brokerage viewsNomura On Exit Polls
Equity Market To React Positively If Exit Poll Results Translate To Actual Results
FII Flows To Improve If NDA Forms A Stable Government As Predicted
Infra, Manufacturing & Capex Theme Ssectors To Outperform In Near Term
Jefferies On Exit Polls
Numbers Shown In Exit Polls Higher Than Expectations
Will Be Sentimental Positive For Capex Stock If Actual Results Mirror Exit Polls
SMID Caps Could Take A Near-term Breather, Post The Election Rally
Bernstein on Exit Polls
Given that exit poll trends translate into results on Tuesday, continuation of relief rally can happen, with market touching 23.5k briefly before profit booking takes over
A greater margin of victory can increase magnitude but not duration of rally
IIFL Sec On Exit Polls
There Could Be Attempts At Accelerated Reforms If PM Modi Is Re-elected
Key Sectors In Focus Are Electricity And Agriculture
Positive On Sectors Like Infrastructure, Cement, Private Banks
Positive On Sectors Like NBFCs, Select Industrials
Negative On IT & Chemicals & Neutral On Most Consumer Sectors
Kotak Inst. On Exit Polls
Government Likely To Focus On Investment-led Growth
Find Most Sectors And Stocks Overvalued Relative To The Fair Value Of The Stocks
A Large BJP Victory May Sustain Rich-to-bubble Multiples In Parts Of The Market
MOSL On Exit Polls
Victory Of PM Modi/BJP Augurs Well For The Economy & Capital Markets
Fundamentally, India Is Witnessing Its Own Mini-Goldilocks Moment
Our Model Portfolio Remains Aligned With The Key Domestic Cyclical Themes
Remain OW On Financials, Consumption, Industrials, Real Estate & PSU Banks
Top Ideas In Large Caps Are ICICI Bank, SBI, L&T, Coal India, M&M
Top Ideas In Large Caps Are Adani Ports, ABB, HPCL & Hindalco
Top Ideas In Midcaps Are Indian Hotels, Godrej Prop, Global Health, KEI Ind
Top Ideas In Midcaps Are PNB Housing, Cello World & Kirloskar Oil
MS on Suzlon
Initiate OW, TP Rs 58.5
Well positioned to benefit from India’s energy transition
Co much stronger after deleveraging, & leaner after cutting fixed operating costs
Think market has not fully appreciated its growth potential yet
Earnings to grow @57% CAGR in F24-27
CLSA on Apollo Hospitals
Upgrade to Buy, TP Rs 7150
Targeting 15% revenue growth in hospitals driven by volume growth
Guided Ebitda margin of 25% by year-end FY25 for its hospital segment.
It expects Apollo 24/7 to break even in next 6-8 quarters
Macquarie on Aurobindo Pharma
O-P, TP Raised to Rs 1385
Announced signing master service agreement with Merck to manufacture biologics products
Co plans to spend Rs10bn in capex
1st of its kind biologics CMO contract
Est. potential upside of Rs170/sh from contract
June 03, 2024 08:06Stock market live updates: Exit polls’ projection for a majority for NDA augurs well for the market, say brokeragesExit poll results which indicate a clear victory for the NDA with around 360 seats, completely removes the so-called election jitters, which have been weighed on markets in May. Read more
June 03, 2024 08:04Stock market live updates: Nifty to see gap-up opening of 645 points, indicates Gift NiftyDomestic markets are likely to open over the moon on Monday, thanks to exit polls that suggest the return of the Bharatiya Janata Party-led National Democratic Alliance with a thumping majority.
Gifty Nifty at 23,345 in early deals indicates a gap-up opening of about 645 points, as Nifty June futures closed at 22,700 on Friday. Read more
June 03, 2024 08:01Stock market live updates: Nifty to see gap-up opening of 645 points, indicates Gift NiftyDomestic markets are likely to open over the moon on Monday, thanks to exit polls that suggest the return of the Bharatiya Janata Party-led National Democratic Alliance with a thumping majority. Read more
June 03, 2024 07:25Stock market live updates: Economic Calendar – 03.06.202407:15 CHINA Caixin Manufacturing PMI (Expected: 51.6 versus Previous: 51.4)
10:30 INDIA HSBC Manufacturing PMI (Expected: 58.4 versus Previous: 58.8)
13:30 EURO Final Manufacturing PMI (Expected: 47.4 versus Previous: 47.4)
14:00 U.K. Final Manufacturing PMI (Expected: 51.2 versus Previous: 51.3)
19:30 U.S. ISM Manufacturing PMI (Expected: 49.8 versus Previous: 49.2)
June 03, 2024 07:06Stock market live updates: Insider TradesDivis Laboratories: Promoter Divi Madhusudana Rao sold 55,000 shares between May 28 and 29.
D B Corp: Promoter Girish Agarwal bought 1.51 lakh shares between May 27 and 29, Pawan Agarwal bought 1.64 lakh shares between May 27 and 29, Promoter Sudhir Agarwal bought 39,749 shares.
Cantabil Retail India: Promoter Vijay Bansal acquired 3.75 lakh shares Between May 24 and May 29.
Wardwizard Innovations and Mobility: Promoter Aevas Business Solutions sold 5 lakh shares on May 27. Promoter
Wardwizard Solutions India sold 10 lakh shares between May 28 and 29.
Kalyan Jewellers: Promoter Geethalakshmi T S sold 50,500 shares on May 29.
June 03, 2024 07:05Stock market live updates: Markets last weekClosing Bell:
* Sensex: 73961.31(+75.71)
* Nifty 50: 22530.70(+42.05)
* Nifty bank: 48983.95 (+301.60)
Nifty top 5 Gainers:
* Adani enterp: 3,411.35 (+217.10)
* Adani Ports: 1,437.40 (+53.9)
* Larsen: 3,669.30 (+34.60)
* Tata Steel: 167.20 (+3.05)
* Shriram Finance: 2,354.05 (+51.35)
Nifty top 5 losers:
* Bharti Airtel: 1,372.75 (-4.40)
* Divis Labs: 4,307.20 (-105.60)
* Hero Motocorp: 5,119.60 (-16.40 )
* Kotak Mahindra: 1,680.40 (-9.70)
* Maruti Suzuki: 12,399.30( -198.70)
June 03, 2024 07:03Stock market live updates: Index Outlook: Election results to set the tone for the benchmark indicesNifty 50 and Sensex failed to sustain higher and fell sharply giving back almost all the gains made in the week earlier. Both the indices fell almost 2 per cent each last week. The Nifty Bank index also fell initially, but managed to recover some of the loss towards the end of the week. The index was down about 1 per cent last week. Read more
June 03, 2024 06:52Stock market live updates: Stock to buy today: Sona BLW Precision Forgings (₹650.60) – BUYThe outlook for Sona BLW Precision Forgings is bullish. The stock has been getting strong support in the ₹620-₹615 region. The price action on the chart all through last week indicates the presence of strong buyers in the ₹620-₹615 region. On Friday, the stock has risen and closed well above an intermediate resistance level of ₹640. This level of ₹640 will now act as a strong support. Read more
June 03, 2024 06:41Stock market live updates: Today’s stock recommendation: June 3, 2024: Sona BLW Precision Forgings
June 03, 2024 06:40Stock market live updates: SEBI widens disclosure norms for IPOsThe Securities and Exchange Board of India (SEBI) has sent a 31-point advisory to investment bankers, requiring enhanced disclosures and increased due diligence on companies tapping the market for initial public offerings (IPOs). Read more
June 03, 2024 06:39Stock market live updates: Nifty and Bank Nifty Prediction for the week 03 Jun’24 to 07 Jun’24 by BL GURU
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