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Market Live Updates: Nifty around 17,900; Sensex up 200 pts; Tata Steel, Ambuja Cements most active – Moneycontrol

September 12, 2022 / 09:33 AM IST

Union Bank of India has hiked lending rates by 5-35 bps across most tenures. Meanwhile, Indian Overseas Bank has hiked lending rates by 10 bps

September 12, 2022 / 09:29 AM IST

DB Realty hits upper circuitAccording to BusinessLine, Adani Realty, the luxury residential and commercial property arm of billionaire Gautam Adani, is in advanced talks for a merger with Mumbai-based DB Realty. Stock is up 5%, locked in upper circuit today

September 12, 2022 / 09:25 AM IST

Anupam Rasayan down 4 percent The company intimated exchanges that there was a fire incident at its Unit-6 of Sachin GIDC plant in Surat on September 10. Four people have died and 20 people are injured in the fire incident.

Anupam Rasayan down 4 percent      The company intimated exchanges that there was a fire incident at its Unit-6 of Sachin GIDC plant in Surat on September 10. Four people have died and 20 people are injured in the fire incident.

September 12, 2022 / 09:17 AM IST

Market at open: Sensex is up 285.93 points or 0.48 percent at 60,079.07. Nifty gains 85.50 points or 0.48 percent at 17,918.80

Market at open: Sensex is up 285.93 points or 0.48 percent at 60,079.07. Nifty gains 85.50 points or 0.48 percent at 17,918.80

September 12, 2022 / 09:13 AM IST

Antique Stock Broking on HAL

Antique Stock Broking has initiated coverage on Hindustan Aeronautics Ltd (HAL) with a buy call and increased target price to Rs 3140, up 30% from its current market price.

“We believe that the company’s stock will re-rate meaningfully due to strong order backlog with stable margins, and unprecedented order pipeline. Given the multi-year double digit earnings growth potential and robust return ratio profile of 20%+, we believe that the stock at 19x its FY24 EPS is attractively valued. Our target price of INR 3,140 is based on 25xFY24E earnings”, Antique Stock Broking report added.

September 12, 2022 / 09:08 AM IST

Tirthankar Das, Technical & Derivative Analyst, Retail, Ashika Stock Broking

With positive market breadth one can expect the index to challenge the psychological level of 18,000. Nifty is likely to head towards 18,300 in September 2022 as it is the swing high of January 2022. During the day, index is likely to open on a flat to slight gap up note and is likely to continue with its positive momentum and challenge 18,000 levels. Thus, one can use dips towards 17,775-17,735 for creating long position for the target of 18,300 in near term.

September 12, 2022 / 09:05 AM IST

Rupee Check | Rupee opens at 79.63/$ versus Friday’s close of 79.58/$

 

September 12, 2022 / 08:58 AM IST

Mohit Nigam, Head – PMS, Hem Securities

Benchmark indices markets are likely to start new week on positive note tracking gains in global markets. Investors will be looking ahead to macro-economic data – Index of Industrial Production (IIP) and Consumer Price Index (CPI) to be out later in the day. However, there may be some cautiousness as another data from RBI showed that its headline foreign exchange reserves declined by $7.9 billion to $553.11 billion in the week ended September 2. The reserves are at their lowest since October 9, 2020. 

On the technical front, the key resistance level for Nifty50 is 18,000 and on the downside 17,700 can act as strong support. Key resistance and support levels for Bank Nifty are 40,800 and 40,000 respectively.

September 12, 2022 / 08:55 AM IST

September 12, 2022 / 08:45 AM IST

Govt appoints merchant bankers for Hindustan Zinc issue

Government appoints ICICI Securities, Axis Capital, HDFC Bank, Citi and IIFL Securities as merchant bankers for Hindustan Zinc issue.

Alert: Government to divest some stake in HZL this FY from its residual shareholding of 29.5%          

September 12, 2022 / 08:38 AM IST

FPIs infuse Rs 5,600 cr in Indian equities in September so far

Foreign investors have pumped in close to Rs 5,600 crore into the domestic equity markets in this month so far on expected growth in consumer spending in festive season and better macro fundamentals compared to other emerging markets.

September 12, 2022 / 08:37 AM IST

Daily Voice | HDFC Securities’ big call for next 12 months would be industrials over consumer

Daily Voice | HDFC Securities' big call for next 12 months would be industrials over consumer

HDFC Securities’ preferred sectors are large cap banks and IT, industrial and real estate, power, autos and they continue to add positions in long-term thematics (eg. City Gas, financial inclusion -…