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These 10 companies from Nifty500 pack rose the most so far in the current fiscal.

Gold falls Rs 30; silver climbs Rs 220

Updated at : 2023-06-20 20:30:05

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Gold prices fell by Rs 30 to Rs 60,110 per 10 grams in the national capital on Tuesday amid a decline in precious metal prices globally, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 60,140 per 10 grams.Silver, however, climbed Rs 220 to Rs 73,500 per kg

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Dow falls 92.46 points at the open to 34,206.66. S&P 500 opens lower by 13.48 points and the Nasdaq Composite drops 47.28 points at the opening bell

In the current MF Analysis conducted by ETMarkets, it was observed that 19 stocks were added to the portfolios of at least 10 MFs in May compared to April.

​​Stocks in focus include names like Fertilizers & Chemicals Travancore (FACT), which was up nearly 10%, Timken India, which fell nearly 7%, and HDFC AMC, which rallied over 11% on Tuesday.

The index has broken out of its higher high formation of the last five sessions. Now, it has to hold above 18,777 zones to witness an up move towards 18,888 and 19,000 zones, while on the downside support exists at 18,710 and 18,666 zones, said Chandan Taparia of Motilal Oswal.

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From the Sensex pack, HUL, M&M, IndusInd Bank, Maruti, Bajaj Finance, and HDFC opened with cuts, while Power Grid, Wipro, Titan, Kotak Bank, Asian Paints, and Tech Mahindra opened with gains.

Several BSE500 companies, including Apollo Tyres, Jindal Stainless, NCC, Suzlon Energy, and CG Power and Industrial Solutions, saw their stocks turn multibaggers after a significant reduction in the pledge shares of promoters in the last four quarters. Lemon Tree Hotels also saw considerable fall in pledge shares. The efforts taken by corporates and promoters to deleverage balance sheets in recent years is one of the major factors that has put India in a better position compared to its emerging market peers. India’s major transformation includes Make in India, GST, digitalization, new bankruptcy law, and a sharp decline in corporate balance sheet leverage.

Top brokerage firms have released their recommendations on various companies. Morgan Stanley has given an overweight rating to InterGlobe Aviation, while Jefferies has initiated a buy rating on JB Pharma. Furthermore, CLSA has retained its buy rating on ICICI Lombard, and AnandRathi has given a buy rating to Gujarat Gas, alongside maintaining a hold rating for MRPL and Chennai Petro. The brokerage firms suggest market share, margin trends, predictable earnings profile, and sustainable growth as the key drivers for the recommended companies.

Buy Cipla., target price Rs 1022: ICICI Direct

Updated at : 2023-06-20 17:30:03

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Price closed above previous gap down area suggest further upsides in coming sessions.

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