Latest Stock Market News

Zydus Lifesciences, Apollo Hospitals Enterprise, HCL Technologies, JBM Auto

Deepak Shenoy discusses the correction happening in the market, particularly in stocks with froth. He advises making calls based on individual portfolios, mentions the ongoing resolution with Paytm, and expresses caution about investing in the pharma pack due to uncertainties. Some stocks, for instance, are pure momentum and you have to play them as momentum per se, which means you get into them when they are going up and you get out of them and they are going down, that is just how the business works.

As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.

According to Mihir Vora, the underlying domestic themes to be bullish on in the longer term are manufacturing, renewables, digitization, infrastructure, urbanization, premium consumption, financialization of savings, and the rise of equity savings cult. The market is already discounting elections and the verdict seems to be a continuity of regime.

Five brokers have upgraded the target price of SBI. Brokers have set an average target price of Rs 774 on the stock, showing an upside potential of around 9% from the current market prices

The Relative Strength Index of the stock stood at 37.53 on Tuesday.

A total of 5,832 shares changed hands on the counter till 10:10AM (IST).

Managing director K Satyanarayana Raju told ET that the bank is in the advanced stages of submitting an official application with the Reserve Bank of India to start the venture where it will have a 94% stake with Karur Vysya Bank holding the remainder.

The list is compiled according to market capitalization for listed companies and valuations for non listed companies. The threshold to qualify for the list is Rs. 6,700 crore, up by 13% since last year.