BSE Realty index added 3 percent led by the DLF, Godrej Properties, Prestige Estate
Viraj Vyas, Technical and Derivatives Analyst, Ashika GroupThe Sensex like the Nifty Index was seeing a negative divergence – where price marks lower low but oscillator makes new high. Coupled with the technical setup – FIIs are sitting on record high short positions in Index futures which is what has led to the short covering move in the Index. Having said that, the Index is still not out of the woods since a faster retracement of the fall above 53,500-54,000 zone can only give more confirmation for a recovery rally.
Time to get greedy? Analysts pick these 19 stocks for a volatile market
Analysts advise investors to be cautious if they want to buy at this juncture and say that they should stagger investments over the next few months
Savita Oil Technologies approves sub-division of equity sharesThe board of directors of Savita Oil Technologies at its meeting held today has approved the sub-division of 1 (One) equity share of face value of Rs 10 each into 5 (Five) equity shares of face value of Rs 2 each.
Marksans Pharma recalls Kroger Brand Aspirin & Ibuprofen due to label packaging issue:Marksans Pharma Limited’s wholly owned subsidiary Time-Cap Laboratories Inc. recalls Kroger Brand Aspirin (300 count bottles) and Ibuprofen (160 count bottles) due to label packaging issue to meet child resistant packaging requirement. Total 12 lots containing 209,430 units have been recalled.
Geojit View On TTK Prestige
Short-term demand and margin outlook has dimmed due to current sharp increase in inflation. However, long-term demand will be supported by GoI’s strong thrust to revive the economy, and TTK’s strong brand recall.
The stock currently trades at ~31x 1Yr Fwd P/E. We value at 32x FY24E EPS (5Yr Avg=38) to arrive at a revised target of Rs 885 (Rs 975 earlier), downgrade to accumulate rating.
TTK Prestige was quoting at Rs 783.00, up Rs 14.50, or 1.89 percent on the BSE.
Market at 1 PMBenchmark indices were trading at day’s high with Nifty around 15650.The Sensex was up 980.61 points or 1.90% at 52578.45, and the Nifty was up 296 points or 1.93% at 15646.20. About 2300 shares have advanced, 739 shares declined, and 119 shares are unchanged.
Bharat Forge approves to transfer stake in Refu Drive GmbH to Kalyani Powertrain
The ‘Investment Committee – Strategic Business’ of Bharat Forge at its meeting held on June 20, 2022, has approved the transfer of the company’s stake in Refu Drive GmbH (“Refu”), Joint Venture (JV) company, to r Kalyani Powertrain (KPL) subject to receipt of necessary approval from regulatory authorities.
Bharat Forge was quoting at Rs 643.05, up Rs 18.65, or 2.99 percent on the BSE.
Two-wheeler stocks see buying on renewed optimism for rural demand recovery
The rain deficit has narrowed to 5 percent from 25 percent a few days ago. Normal monsoon rainfall is seen as critical for the revival of rural demand
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