Latest Stock Market News

Sun Pharma and M&M stocks exhibit bullish momentum with potential for gains. Technical and derivative factors support upward movement, suggesting breakouts. Recommendations include accumulating Sun Pharma near Rs 1590-1580 with a target of Rs 1700, and M&M near Rs 2930-2900 targeting Rs 3140.

Bharat Heavy Electricals Ltd. key Products/Revenue Segments include Erection & Other Services, Other Operating Revenue, Scrap and Export Incentives for the year ending 31-Mar-2023.

Alliance Integrated Metaliks has set July 11 as the record date for a 2:1 bonus share issuance, making today the deadline to buy shares and qualify. Shareholders will receive two bonus shares for each held. The company plans to use Rs 26.33 crore from reserves/premiums for the bonus issue.

Nifty may report 4% Q1 earnings growth driven by BFSI, auto, metals, healthcare, and real estate, with Trent and Zomato showing significant consumption sector growth. Pharmaceuticals Glenmark Pharma and Laurus Labs have high growth, private and PSU banks lower. Motilal Oswal and Kotak predict 30 companies may report over 100% profit growth.

HDFC Asset Management Company Ltd., incorporated in the year 1999, is a Large Cap company (having a market cap of Rs 89384.68 Crore) operating in Financial Services sector.

​On July 9, the closing prices of four stocks in the Nifty500 pack surged more than 1.5% compared to the VWAP. This upward move above the VWAP indicates a possible bullish trend.

Following a 20% rally in HDFC Bank shares due to value buying and optimism over potential MSCI weightage increase, global brokerage firm BofA downgraded the private sector lender from buy to neutral. They also revised the target price to Rs 1,830 from Rs 1,850, citing potential challenges in navigating FY25.

The stock traded at a P/E multiple of 55.92, while the price-to-book value ratio stood at 19.34.

Bansal Wire listed at Rs 356 on NSE with a 39% premium. Pre-listing unlisted premium was Rs 63. IPO funds will repay debt.