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The Indian equity market showcased a mixed performance in the last week after the US Fed left rates unchanged as anticipated but hinted at the possibility of more interest hikes later this year.

Broken 3-month consolidation range on the higher side affirming a strong base formation at 470 levels.

The stock quoted a 52-week high price of Rs 630.0 and a 52-week low of Rs 306.0.

Gold and silver futures on MCX declined slightly in early Monday trading after falling last week due to a hawkish tone from the US Federal Reserve. August gold futures were trading at Rs 59,251 per 10 grams, down 0.17%, while July silver futures declined by 0.02% to Rs 72,670. However, prices recovered at the end of last week, due to increased European Central Bank interest rates and the falling US dollar. Investors may also buy sovereign gold bonds as the first tranche of the investment option is available, opening for subscription from 21 June.

HSBC has maintained a buy rating on VRL Logistics with a target price of Rs 800, while Macquarie has retained an underperform rating on Nykaa with a target price of Rs 115. Antique has initiated a buy rating on Titagarh Wagons with a target price of Rs 694, and Citigroup has a buy rating on MGL with a target price of Rs 1,210, while maintaining a neutral rating on Gujarat Gas. VRL is expected to experience an EBITDA margin expansion in FY24, while Nykaa was cited as being evasive on losses in fashion/beauty distribution businesses.

​They continue to grow at a steady pace of growth, even on a larger balance sheet like what they currently have. I believe that the stock requires a follow up as far as the funds are concerned to add the weightage into their portfolio.

In May 2023, a total of 118 stocks were found to be owned by over 100 mutual fund schemes.

Now, with their central bank stepping in, you can see that the effort is to converge the two and just have one so from a longer term perspective, this is a very-very welcome news if a large market like this starts to get reorganised.

Hindustan Aeronautics, incorporated in the year 1963, is a Large Cap company (having a market cap of Rs 130742.17 Crore) operating in Defence sector.

This, along with the company’s target to reduce working capital and the promoter’s assurance on pledge-closure by end of FY24, allays key investor concerns.