Market News
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Coal block 'scam': Delhi court discharges Hindalco
A Delhi court has discharged Hindalco Industries and two former executives in a coal block case. The court found no evidence of illegal acts or criminal conspiracy. The Central Bureau of Investigation (CBI) failed to prove criminal breach of trust or cheating. The court stated that the allocation letter did not confer vested rights.
Markets may have bottomed out; Nifty could head towards 25,800: Rohit Srivastava
Rohit Srivastava, Founder of Indiacharts & Strike Money, believes Indian markets have likely formed a bottom and could gradually move higher over the next few months, with Nifty potentially heading towards 25,800. He remains bullish on Bank Nifty after a technical breakout and sees strength returning to broader markets through improving liquidity. Srivastava remains cautious on IT stocks despite short-term trading opportunities, while Reliance Industries and select private banks continue to show improving trends.Disclaimer: Network18 and TV18, the companies that operate CNBC-TV18, are controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
Motilal Oswal top picks: VA Tech order strength, RIL refining upside, Eternal valuations attractive
Investors are not showing panic despite geopolitical tensions, though many are reviewing portfolios and seeking safer sector exposure, according to Siddhartha Khemka of Motilal Oswal. The brokerage remains positive on VA Tech Wabag citing a ₹16,000-crore order book and strong West Asia demand. It also sees opportunity in quick commerce stocks like Eternal and Swiggy after valuation corrections, while Reliance Industries’ O2C business could benefit from higher refining margins. Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
The two defence stocks this portfolio manager likes
Conrad Saldanha, MD & Portfolio Manager of Neuberger Berman, says market uncertainty due to Middle East tensions has created selective long-term opportunities. He sees attractive valuations emerging in global IT services after a sharp correction, while tech fundamentals remain strong. In India, he is selectively adding large caps like Reliance Industries and Bharti Airtel and likes IT midcaps such as Coforge and Persistent Systems as well as defence play Data Patterns, on weakness. Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.