Latest Stock Market News

Ventura Securities projects Hindustan Zinc’s PAT to reach ₹11,402 crore by FY27, driven by power cost savings, operating leverage, and silver production expansion amid growing demand. The brokerage gives a ₹585 price target, a 26.7% upside.

Hrishikesh Yedve of Asit C. Mehta Investment Intermediates suggested that as long as Nifty stays above 22,980, a short-term pullback towards 23,300-23,400 is possible. However, falling below 22,980 could trigger weakness towards 22,800. The 250-DSMA at 23,600 is a key resistance level. He advised adopting a sell-on-rise strategy for the index.

Godrej Consumer Products reported a 4% rise in sales but flat volume growth for Q3, citing urban consumption slowdown, higher palm oil costs, and weak seasonality impacting EBITDA margins and household insecticides performance.

I believe that probably Indian investors are matured by large, that number may not accelerate but that should not see a very significant reversal also. And I think from a longer-term perspective, the financialization of saving is a mega trend.

Australian shares logged their third consecutive week of gains, rising 1.2% for the week, driven by gains in banks and discretionary stocks. Traders expect lower interest rates following anticipated lower inflation data next week. Financials rose, while discretionary stocks benefited from potential increased consumer spending.

Stocks such as HDFC Life and ICICI Lombard show potential, despite being overlooked by many investors.

ICICI Bank’s net interest income for the third quarter is projected to grow 10% YoY, while PAT is expected to rise 8% YoY, based on estimates from five brokerages. Analysts anticipate strong business growth, higher cost ratios, and slight margin moderation, with asset quality remaining stable during the period.

Pankaj Tibrewal remains optimistic as tight liquidity and global factors ease. He advises caution in EMS, real estate, and infrastructure sectors but sees opportunities in metals, cement, and specialty chemicals.

At least some amount of time-wise correction can be seen here and for very-very short-term, if we see a close above 23,350, yes, we will see some more amount of short covering and that can take markets to 23,600 to 23,800. If you look at levels on Bank Nifty, strong supports are now at 48,300 for short term.