JM Financial said it sees significant optimism returning to the sugar sector, thanks to seasonal factors such as festival period and growing concerns on India’s sugar production estimate for the upcoming season (SS24E).
Shares of Indian Railway Finance Corporation Ltd (IRFC) zoomed 154 per cent in 2023 so far, Ircon International Ltd soared 152 per cent while Rail Vikas Nigam Ltd surged 148.57 per cent during the same period.
Railway stocks have remained flavor of the Dalal Street for quite some time but as the broader market was gripped by bears since Tuesday, the listed railways stocks have tumbled brutally.
Kotak has downgraded Deepak Nitrite to 'Reduce' rating, saying the stock has run up 18 per cent since it initiated coverage on July 23 and now trades at 36 times FY24 and 30 times FY25 EPS.
Top stock picks for today: Mileen Vasudeo also recommended HG Infra Engineering Ltd. For HG Infra, keep a stop loss at Rs 946 and the price target would be Rs 1,060 to Rs 1,100 in a couple of days, he told BT TV today.
M&M, which hit a low of Rs 1,513 earlier today, recovered to Rs 1,546.65 on BSE, but was still down 2.24 per cent. Ashok Leyland was trading at Rs 179.30, down 2.98 per cent. This stock hit a low of 176.90 earlier today.
IRCON International, which has presence in Jordon, Saudi Arabia and Ethiopia, soared 15.56 per cent to Rs 154.45. A total of 4,31,85,286 IRCON International shares worth Rs 648 crore changed hands so far.
Shares of Gujarat Gas will turn ex-dividend on Monday. The company had announced a final dividend of Rs 6.65 per share. Monday would also be the record date for determining the name of the eligible shareholders.
RITES, a multidisciplinary engineering and consultancy organisation under the Ministry of Railways, saw its shares climbing 7.47 per cent to Rs 546 on BSE.
Top stock picks for today: Mayuresh Joshi on Friday told BT TV that there are some pockets in the broader markets (mid- and small-cap) space which have become overheated, given the recent rally, Joshi told BT TV. Investors need to be more selective while choosing a sector or stock, he added.
YES Bank is trading in an ascending channel pattern on the daily chart. It has approached the upper end of the channel, which has given breakout from consolidation.
JP Power topped the volume chart on NSE. The stock surged 11.43 per cent to Rs 9.75, as 38,85,15,239 shares worth Rs 368 crore changed hands on the counter on the exchange by 1 pm.
Axis Securities has picked up five large-cap stocks for September 2023, namely- ICICI Bank, Maruti Suzuki India, State Bank of India, Varun Beverages, and ITC- in its monthly report.
Bharti Airtel recently broke out of a consolidation pattern on the daily chart, signaling an increasing bullish sentiment. It has surpassed a critical moving average, reinforcing the bullish outlook.
Reliance Power topped the volume chart on NSE. The stock surged 6.57 per cent to Rs 19.80, as 20,71,42,977 shares worth Rs 436 crore changed hands on the counter by 11.20 am.
Top stock picks for today: Mileen Vasudeo also recommended HG Infra Engineering Ltd. For HG Infra, keep a stop loss at Rs 946 and the price target would be Rs 1,060 to Rs 1,100 in a couple of days, he told BT TV today.
IRFC topped the volume chart on NSE. The stock surged 6.37 per cent to Rs 70.95, as 17,45,74,275 shares worth Rs 1,269 crore changed hands on the counter.
YES Bank formed a bullish candle on the daily chart after a phase of consolidation. It moved past the significant 200-period MA to improve the bias. One can see further rise on the counter.
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