Latest Stock Market News

JP Morgan maintained its overweight rating on Dalmia Bharat with a target price of Rs 1845. Proposed acquisition at attractive valuations which will give Dalmia a pan-India footprint, it said.

Short-term traders who missed the bounce can look at buying the stock now or on dips for a target of Rs 285 in the next 3-4 weeks, suggest experts.The stock rallied from Rs 225 recorded on November 11, 2022, to Rs 264 as on December 12 which translates into an upside of over 17%.

The Nifty Realty index was trading 0.49 per cent down at 447.4.

Promoters held 55.87 per cent stake in the company as of 30-Sep-2022, while FIIs owned 14.01 per cent, DIIs 8.01 per cent.

Bitcoin Group, a holding company focusing on the blockchain and cryptocurrency industries, said it agreed to buy all of Germany’s Bankhaus von der Heydt for $15 million in cash and 150,000 shares.

On the technical charts, the RSI of the stock stood at 83.41.

Incorporated in 1998, Landmark Cars is a leading premium automotive retail business in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen and Renault. It also caters to the commercial vehicle retail business of Ashok Leyland.

The stock bounced after a few days of consolidation and rose to a 52-week high. A rise in volume indicates that major market participants were in favour of the bulls. The key technical indicators are positively poised.

The board of Grandma Trading will be announcing its quarterly results. Furthermore, the board of One 97 Communications, the parent company of payments services firm Paytm, will meet to consider and approve share buyback.

After four consecutive mega-hikes of 75 basis points, the market is expecting Fed Chair Jerome Powell to moderate the pace of hikes to 50 bps amid early signs of moderation in inflation. The outcome of the two-day meeting of the Federal Open Market Committee (FOMC) would be known tomorrow midnight.