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Market LIVE Updates: Nifty above 15,600, Sensex gains 300 pts led by auto, FMCG, banks – Moneycontrol

June 24, 2022 / 10:23 AM IST

BSE Metals index added 1 percent led by Tata Steel, JSW Steel, APL Apollo

June 24, 2022 / 10:15 AM IST

Thermax arm buys to 2 companies in renewable energy sectorThermax’s subsidiary First Energy (FEPL) has acquired two companies – Jalansar Wind Energy (JWEPL) and Kanakal Wind Energy (KWEPL). JWEPL and KWEPL will become wholly owned step-down subsidiaries of Thermax. Both the companies are belong to renewable energy sector.

Thermax arm buys to 2 companies in renewable energy sector     Thermax's subsidiary First Energy (FEPL) has acquired two companies - Jalansar Wind Energy (JWEPL) and Kanakal Wind Energy (KWEPL). JWEPL and KWEPL will become wholly owned step-down subsidiaries of Thermax. Both the companies are belong to renewable energy sector.

June 24, 2022 / 10:08 AM IST

Gold Prices Today: Avoid taking long positions in yellow metal, selling pressure seen at higher levels, say experts

Gold Prices Today: Avoid taking long positions in yellow metal, selling pressure seen at higher levels, say experts

Stronger dollar and treasury yields are continuously putting pressure on gold prices. Higher inflation and fear of possible US recession has induced an indecisiveness in gold trend. Investors may…

June 24, 2022 / 10:03 AM IST

Market at 10 AMBenchmark indices were trading higher with Nifty around 15700.The Sensex was up 456.10 points or 0.87% at 52721.82, and the Nifty was up 148.70 points or 0.96% at 15705.40. About 2192 shares have advanced, 537 shares declined, and 101 shares are unchanged.

Market at 10 AM     Benchmark indices were trading higher with Nifty around 15700.    The Sensex was up 456.10 points or 0.87% at 52721.82, and the Nifty was up 148.70 points or 0.96% at 15705.40. About 2192 shares have advanced, 537 shares declined, and 101 shares are unchanged.

June 24, 2022 / 09:51 AM IST

Jefferies View On ICICI Bank

Brokerage firm Jefferies has maintained buy rating on ICICI Bank with a target at Rs 1,070 per share.

Correction, coupled with high RoA, makes it among best risk-reward across banks.

Across the global banks with 1x PB/RoA, it offers among highest RoA, reported CNBC-TV18.

ICICI Bank was quoting at Rs 708.00, up Rs 8.50, or 1.22 percent.

June 24, 2022 / 09:45 AM IST

Nifty FMCG index added 1 percent supported by the HUL, Britannia Industries, Marico

Nifty FMCG index added 1 percent supported by the HUL, Britannia Industries, Marico

June 24, 2022 / 09:42 AM IST

BSE Auto Index added 1 percent led by the Eicher Motors, TVS Motor, Tube Investments of India

BSE Auto Index added 1 percent led by the Eicher Motors, TVS Motor, Tube Investments of India

June 24, 2022 / 09:37 AM IST

ONGC Videsh announces new oil discovery in ColombiaONGC Videsh Limited (OVL), the wholly-owned subsidiary and overseas arm of Oil and Natural Gas Corporation Ltd. (ONGC), on June 23 announced that it has made an oil discovery in the Llanos Basin region of Colombia.The company, in its press release, said, it has made an “oil discovery in the recently drilled well, Urraca-IX, in CPO-5 block, Llanos Basin, Colombia. Well, Urraca-1X was spudded on 20th April 2022 and drilled to target depth (TD) of 10956 ft., encountering 17 ft thick oil-bearing sands at a depth from 10201ft -10218 ft. During initial testing with Electrical Submersible Pump (ESP), fluid flowed @ approx. 600 bbl./day with around 40-50% W/C and oil of 16oAPI. Oil discovery in the Lower Mirador play in this well opens up new areas for further exploration in the northern part of the block.”

ONGC Videsh announces new oil discovery in Colombia     ONGC Videsh Limited (OVL), the wholly-owned subsidiary and overseas arm of Oil and Natural Gas Corporation Ltd. (ONGC), on June 23 announced that it has made an oil discovery in the Llanos Basin region of Colombia.    The company, in its press release, said, it has made an "oil discovery in the recently drilled well, Urraca-IX, in CPO-5 block, Llanos Basin, Colombia. Well, Urraca-1X was spudded on 20th April 2022 and drilled to target depth (TD) of 10956 ft., encountering 17 ft thick oil-bearing sands at a depth from 10201ft -10218 ft. During initial testing with Electrical Submersible Pump (ESP), fluid flowed @ approx. 600 bbl./day with around 40-50% W/C and oil of 16oAPI. Oil discovery in the Lower Mirador play in this well opens up new areas for further exploration in the northern part of the block."

June 24, 2022 / 09:33 AM IST

Prabhudas Lilladher on Nazara Technologies:We have increased our EPS estimates by 2-3% and expect sales/PAT CAGR of 35%/54% respectively over FY22-24E. Though growth challenge in Kiddopia persists, Esports is likely to emerge as key growth lever as TV broadcasting during prime time will help increase viewership and popularity multi-fold in future. Retain buy with a DCF based target price of Rs 1,813 (earlier Rs 1,747)

Prabhudas Lilladher on Nazara Technologies:     We have increased our EPS estimates by 2-3% and expect sales/PAT CAGR of 35%/54% respectively over FY22-24E. Though growth challenge in Kiddopia persists, Esports is likely to emerge as key growth lever as TV broadcasting during prime time will help increase viewership and popularity multi-fold in future. Retain buy with a DCF based target price of Rs 1,813 (earlier Rs 1,747)

June 24, 2022 / 09:21 AM IST

V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services:

There are some clear economic and market trends. Leading indicators such as PMI and retail sales in Europe and US indicate economic slowdown. Most central banks of the world are hiking rates in this slowdown. Therefore, the slowdown will continue and may aggravate pushing the US economy into recession. 

Since the market knows this, equities are in oversold territory, triggering short-term upmoves. The whipsaw movement in Nifty yesterday reflects this uncertainty, confusion and lack of direction.

Accenture’s results indicate continued robust demand for IT. Indian IT companies’ Q1 results are likely to be very good, but the stock movements will be decided by their FY23 guidance.

A Crash in metal prices is a strong positive for autos.

June 24, 2022 / 09:17 AM IST

Gainers and Losers on the BSE Sensex in the early trade:

Gainers and Losers on the BSE Sensex in the early trade:

June 24, 2022 / 09:16 AM IST

Market Opens: Indian indices opened on June 24 with Nifty above 15,700 on the back of positive global cues.

At 09:16 IST, the Sensex was up 526.66 points or 1.01% at 52792.38, and the Nifty was up 163.50 points or 1.05% at 15720.20. About 1346 shares have advanced, 272 shares declined, and 60 shares are unchanged.

All the stocks among Nifty50 were trading in the green with IndusInd Bank, ONGC, Tata Consumer Products, ICICI Bank and Apollo Hospitals were among the top gainers on the Nifty.