Latest Stock Market News

ETMarkets.com shortlisted 9 stocks that bagged a target price upgrade over the last week and have over 10% upside from current levels.

Maruti Suzuki India stock is in a strong uptrend with a potential upside of around 14%, or over Rs 1,300 per share, based on the current chart structure and robust fundamentals. Prabhudas Lilladher remains positive on the growth prospects of MSIL as the automaker gained market share and increased ASP filling white spaces in UV portfolio. The brokerage firm reiterated its buy stance on Maruti Suzuki shares with a revised target price of Rs 10,300. Despite cutting FY24/25 EPS estimates, the medium to long-term prospects remain strong for the counter, with the potential to become a multibagger over the next 4-5 years.

CFF Fluid Control listed on the BSE SME platform at Rs 175 as compared to the issue price of Rs 165. Its IPO received an underwhelming response from investors with an overall subscription of 2.15 times, primarily driven by non-institutional interest. Sahana System made its debut on the NSE Emerge platform at Rs 163 and is currently trading nearly 28% higher at Rs 171.15. The IPO of Sahana System was subscribed 10 times, with the retail category subscription at 13x.

Indian equity indices closed higher ahead of the release of key domestic retail inflation data on Monday. Investors were cautiously awaiting directions from key central bank meetings in a busy week, with the market breadth skewed in favour of bulls. The market capitalisation of all listed companies on BSE increased by Rs 1.25tn to Rs 287.98tn

Our ETFs have got flows like the industry and incidentally in the ETFs also we have seen some profit booking last month. So across board, people are taking off some money off the table.

​The primary starting point is the safety aspect. But then again, the second part is that you are also taking the money out of your portfolio every year. And then again, you also have this inflation increasing the yearly requirements for you.

The share allotment for IKIO Lighting will take place on June 13, with investors receiving shares on a lottery basis. Shares are expected to be listed on June 16, with expectations for a healthy premium as shares are commanding a GMP of Rs 107. The IPO was oversubscribed 66.29 times, with institutional buyers driving much of the demand. The net proceeds will be used for partial debt repayment, investment in subsidiary IKIO Solutions, and general corporate purposes. IKIO Lighting designs, develops, manufactures, and supplies products to customers who then further distribute products under their brands.

A total of 4,536 shares changed hands on the counter till 01:12PM (IST).

Despite facing a 10% dip from its record-high, Bharat Heavy Electricals (BHEL) could surpass the December 2022 highs in the short-run, according to technical analysis. The stock broke out of a Flag & Pole candlestick pattern on weekly charts in May 2023 and has sustained support above the 200-DMA on daily charts. The daily SMA indicates a predominantly bullish trend. Founder & CSO at AlgoBulls, Suraj Bathija, advises buying shares at CMP Rs 85, with potential targets of Rs 116 and Rs 145 and a stop loss of Rs 77 in the next quarter.

Cryptocurrencies including Bitcoin, XRP, Cardano, and Polygon traded positively while Ethereum, BNB, Solana, and Shiba Inu suffered losses, further complicating the global cryptocurrency market, which was trading 0.12% lower, at $1.05tn. Awaiting the release of inflation data, investors are violating both crypto as well as the stock market. Since the US Fed began fighting against inflation 500 basis points ago, its war with inflation leading to market recession was voided.