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ICICI Prudential's Anand Shah favours manufacturing, consumer services despite inflation risks
Anand Shah, CIO-PMS & AIF at ICICI Prudential AMC, believes manufacturing-focused mid- and small-cap companies are well placed to benefit from stronger earnings growth, rupee depreciation and a gradual shift towards domestic production. He remains overweight on consumer services, private banks, asset managers and insurance firms, while expecting telecom industry profitability to improve over time through tariff hikes. Shah also warned that inflation risks from energy and food prices could weigh on consumption.
Reliance Power Ltd gains for third straight session
Reliance Power Ltd is quoting at Rs 26.93, up 1.09% on the day as on 12:49 IST on the NSE. The stock is down 57.68% in last one year as compared to a 3.7% jump in NIFTY and a 10.87% jump in the Nifty Energy index.
Inox Wind Ltd soars 1.26%, up for third straight session
Inox Wind Ltd is quoting at Rs 91, up 1.26% on the day as on 12:49 IST on the NSE. The stock is down 45.43% in last one year as compared to a 3.7% fall in NIFTY and a 10.87% fall in the Nifty Energy index.
CESC Ltd rises for third straight session
CESC Ltd is quoting at Rs 172.23, up 1.91% on the day as on 12:49 IST on the NSE. The stock is up 5.66% in last one year as compared to a 3.7% jump in NIFTY and a 10.87% jump in the Nifty Energy index.
Mahanagar Gas Ltd spurts 2.14%, gains for third straight session
Mahanagar Gas Ltd is quoting at Rs 1163.4, up 2.14% on the day as on 12:49 IST on the NSE. The stock is down 18.84% in last one year as compared to a 3.7% spurt in NIFTY and a 10.87% spurt in the Nifty Energy index.
Nava Ltd rises for third consecutive session
Nava Ltd is quoting at Rs 617.5, up 2.29% on the day as on 12:49 IST on the NSE. The stock is up 9.21% in last one year as compared to a 3.7% spurt in NIFTY and a 10.87% spurt in the Nifty Energy index.
Suzlon Energy Ltd up for third consecutive session
Suzlon Energy Ltd is quoting at Rs 58.1, up 4.55% on the day as on 12:49 IST on the NSE. The stock is down 9.95% in last one year as compared to a 3.7% slide in NIFTY and a 10.87% slide in the Nifty Energy index.
Nifty June futures trade at a premium
HDFC Bank, Reliance Inds and L&T were top traded contracts
Sensex, Nifty close sharply higher: 5 reasons behind today's stock market surge
The Sensex climbed 736 points to close at 76,264, while the Nifty advanced 231 points to 23,854. Both indices, however, ended below their intraday highs. The market's advance was led by index heavyweights Larsen & Toubro, Reliance Industries, Mahindra & Mahindra and Maruti Suzuki.
Mcap of 8 most valued firms surges by ₹1.90 trn, ICICI Bank shines
The combined market valuation of eight of the top-10 most valued firms surged by Rs 1.90 lakh crore last week, with ICICI Bank stealing the show, in tandem with a rally in equities. Last week, the BSE benchmark Sensex jumped 1,284.61 points, or 1.73 per cent, and the NSE Nifty surged 256.2 points, or 1 per cent. "Indian equity markets ended a volatile week on a strong note, snapping a two-week losing streak amid improving global sentiment and supportive measures from the Reserve Bank of India (RBI) aimed at attracting foreign currency inflows," Ajit Mishra, SVP, Research, Religare Broking Ltd, said. Investor confidence improved on optimism surrounding a potential USIran peace deal, which raised hopes of easing geopolitical tensions and stabilising energy markets, he added. From the top-10 pack, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Bajaj Finance, Larsen & Toubro and Hindustan Unilever were the winners, while Tata Consultancy Services (TCS)
Siemens Ltd eases for fifth straight session
Siemens Ltd is quoting at Rs 3519, down 0.09% on the day as on 13:19 IST on the NSE. The stock jumped 7.94% in last one year as compared to a 5.56% slide in NIFTY and a 8.45% spurt in the Nifty Energy index.
Nifty June futures trade at a premium
HDFC Bank, ICICI Bank and Reliance Industries were the top traded contracts.