Share Market HIGHLIGHTS: Sensex ends 305 pts higher, Nifty reclaims 22,150 as IT, auto stocks intraday recovery on Dalal Street
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty50 and Sensex finished a volatile session in the green on Tuesday, February 27, led by gains in a number of large IT and auto shares, though losses in select oil & gas and financial stocks played spoilsport. Catch all the highlights of the session, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.coms blog.
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty50 and Sensex finished a day full of see-saw moves in the green, led by buying in a bunch of largecap IT and auto stocks though selling pressure in select oil & gas and financial stocks limited the upside. Among index heavyweights, TCS, Tata Motors, Larsen & Toubro and Bharti Airtel contributed the most to the rise in the indices, but stocks such as SBI, Bajaj Finance, Axis Bank and Reliance played spoilsport.
Here's a list of some of the stocks that made headlines:
- Multibagger stock hits 10% upper circuit after securing orders from Indian Railways
- PSB valuations may still be reasonable after 162% jump in Nifty PSU Bank within two years
- UBS upgrades TCS to 'buy', eyes industry-leading growth in FY25
- Happiest Minds Tech announces new vertical organisation structure
- Distilleries major approves warrants conversion
- Castrol India spikes after management gives strong guidance in analyst meet
- Should you buy TCS, Paytm, Havells, Whirlpool stocks?
- Dixon Tech, Whirlpool of India shares under pressure after brokerage cuts targets
Catch all the market action in the February 27 session on Dalal, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stock recommendations, and much more only on Zeebiz.com's blog:
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Share Market Today: Broader indices Nifty Midcap 100, Nifty Smallcap 100 decline up to 0.3%
Stock Feb 27 close Change (%) NIFTY 500 20,292.85 0.18 NIFTY MIDCAP 50 13,931.95 -0.33 NIFTY MIDCAP 100 49,041.20 -0.12 The Nifty 500, NSE's broadest index, however, ekes out a gain of 0.2 per cent.
Share Market Today: Nifty Realty, Nifty Consumer Durables, Nifty IT, Nifty Auto top gainers among NSE's sectoral indices
Stock Feb 27 close Change (%) NIFTY REALTY 929.15 1.07 NIFTY CONSUMER DURABLES 32,089.00 0.92 NIFTY IT 37,870.25 0.72 NIFTY AUTO 20,788.55 0.71 NIFTY HEALTHCARE INDEX 12,137.30 0.67 NIFTY PHARMA 19,064.20 0.57 NIFTY METAL 8,000.55 0.36 NIFTY PRIVATE BANK 23,372.70 0.24 NIFTY BANK 46,588.05 0.02 NIFTY FMCG 54,306.45 -0.02 NIFTY FINANCIAL SERVICES 20,552.90 -0.32 NIFTY PSU BANK 7,001.40 -0.56 NIFTY MEDIA 2,142.80 -0.63 NIFTY OIL & GAS 11,684.15 -0.73 Share Market Today: Tata Motors, TCS, Power Grid rise most among 28 Nifty gainers; Hero MotoCorp, Bajaj twins, SBI top losers
Top Nifty gainers
Stock Feb 27 close Change (%) TATAMOTORS 962.55 2.73 TCS 4,100.50 2.49 POWERGRID 293 1.81 INDUSINDBK 1,492.00 1.74 SUNPHARMA 1,579.55 1.45 CIPLA 1,490.55 1.41 EICHERMOT 4,002.00 1.24 JSWSTEEL 818.5 1.21 BHARTIARTL 1,123.30 1.19 TATASTEEL 144.2 1.09 Top Nifty losers
Stock Feb 27 close Change (%) HEROMOTOCO 4,420.10 -1.69 BAJFINANCE 6,555.40 -1.32 SBIN 749.5 -1.24 BAJAJFINSV 1,595.00 -1.2 DIVISLAB 3,540.00 -1.04 ADANIENT 3,296.00 -0.95 UPL 484.9 -0.87 BPCL 623.15 -0.64 LTIM 5,435.00 -0.57 NTPC 336.05 -0.46 Share Market Today: Sensex ends 305 pts higher, Nifty reclaims 22,150 led by IT, auto stocks; Tata Motors, TCS rise over 2.5%
The Sensex ends 305.1 points, or 0.4 per cent, higher at 73,095.2 and the Nifty settles at 22,198.4, up 76.3 points, or 0.3 per cent, from its previous close.
Nifty50
Share Market Today LIVE | This multi-bagger stock hits 10% upper circuit after securing orders from Indian Railways
Shares of Hind Rectifiers lock in a 10 per cent upper circuit at Rs 617.45 on the BSE after the power electronics and railway transportation equipment maker bagged over Rs 200 crore orders from the Indian Railways. On Monday, after market hours, Hind Rectifiers, through a regulatory filing, informed investors that the company had secured many supply orders from the Indian Railways. Read more
Pharma sector Q3FY24 Review | A mixed quarter, India business sees sharp recovery; what is next?
As the third quarter (Q3 FY24) earnings season comes to a close, the analysis of different companies' and sectors' performance is on everyone's radar. As regards pharmaceutical companies, analysts note that the companies in the sector have overall put up a mixed show for the October–December period.
As per Axis Securities, hospitals experienced a seasonally weak quarter, and going forward, brownfield expansion initiatives are anticipated to drive growth without significant dilution in return on capital employed (RoCE).
InCred Equities said in a report that India's business witnessed a sharp recovery and was up 11 per cent year-on-year (YoY) after a weak 1HFY24 performance. Read more
Share Market Today LIVE | Nifty Bank nearly 150 pts off day's high
Source: NSE
Share Market Today LIVE: Sensex rebounds 400 pts from day's low, Nifty approaches 22,200 as IT stocks aid intraday recovery on D-Street
The Sensex climbs to as high as 73,159.7, bouncing back almost 500 points from its intraday low, while the Nifty50 rebounds 132.6 points from its weakest level of the day to touch 22,218.3 on the upside.
Take a look at the top movers in the 50-scrip basket at this hour:
Image: Niftyindices.com
Share Market Today LIVE | Nifty, Sensex turn sluggish as financial stocks offset gains in IT shares
Traders' Diary: Buy, sell or hold strategy on Cipla, Voltas, Tata Communications, Crompton Greaves, over a dozen other stocks today
In this edition of Traders' Diary, the Zee Business research team shares exclusive research on 20 stocks that investors and traders can track on Tuesday, February 27. Check out the complete list of stocks on analysts Kushal Gupta and Varun Dubey's radar.
Here's the complete list of investment and trading ideas for the day:
Kushal Gupta
- Buy Birla Corporation shares in the cash segment for a target price of Rs 1,790 with a stop loss at Rs 1,725
- Sell Metropolis Healthcare futures for a target of Rs 1,640 with a stop loss at Rs 1,720
- Buy the Rs 1,470 call option of Cipla at Rs 10 for a target of Rs 18 with a stop loss at Rs 6
- Technical pick: Buy HDFC AMC shares for a target price of Rs 4,025 with a stop loss at Rs 3,890
- Fundamental pick: Buy Voltas shares for a target of Rs 1,250 with a perspective of 4 months
- Investment idea: Buy SBI Life Insurance shares for a one-year target of Rs 1,850. Read more
Stocks to Buy | Tata Consumer, Vedanta, LIC Housing Finance among analysts' top picks
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Kunal Saraogi, Avinash Gorakssakar, Ambareesh Baliga, Sumeet Bagadia and Sudeep Shah share their top stock recommendations for the day in this special segment, Pick of the Day. On the top analysts' 'buy' list are stocks such as Tata Consumer Products, LIC Housing Finance, Vedanta and Mangalore Refinery and Petrochemicals Ltd (MRPL). Read more
Share Market Today LIVE | UBS upgrades TCS to 'buy', says it can deliver industry-leading growth in FY25
Shares of Tata Consultancy Services trade 1.79 per cent higher at Rs 4,071.95 on BSE after UBS upgraded the stock to 'buy' as it believes the Tata group company can deliver industry-leading growth and margins among peers in FY25.
The global brokerage upgraded TCS' rating to 'buy' from 'neutral' and raised the target price to Rs 4,700 from Rs 4,050 apiece for 12 months.
UBS, in its report, noted various drivers for TCS:
1) Ramp-up of large deals such as BSNL, NEST, Aviva, and so on.
2) Revival in the BFSI segment. Read moreShare Market Today LIVE | Should you buy TCS, Paytm, Havells, Whirlpool, other stocks today? Here is what brokerages recommend
Here's what UBS, Morgan Stanley, Jefferies, Goldman Sachs, Macquarie and Nomura make of stocks such as Tata Consultancy Services (TCS), Paytm, Havells India, Whirlpool India and SBI Life Insuarance:
TCS share price target:
UBS has a 'buy' call on the Tata Consultancy Services (TCS) stock with a target of Rs 4,700.
Dixon share price target:
Jefferies has an 'underperform rating on the Dixon Technologies stock with a target of Rs 5,920.
Whirlpool share price target:
Jefferies has an underperform' rating on the Whirlpool India stock with a target of Rs 1,125.
Havells share price target:
Goldman Sachs has a 'buy' call on the Havells India stock with a target of Rs 1,660. Read more
Share Market Today LIVE: ICICI Bank, Reliance, HDFC Bank, Axis Bank, SBI pull Sensex lower
On the contrary, buying in stocks such as TCS, Bharti Airtel, L&T and ITC lend some support to the index, helping it avoid lower levels.
Image: BSEIndia.com
Share Market Today LIVE | CMS Info Systems slips after reported Rs 1594 crore block deal, sells 27.1% stake
CMS Info Systems trades 0.87 per cent lower at Rs 394 on BSE after a block deal worth Rs 1594 crore took place. In the block deal, as many as 4.3 crore shares reportedly changed hands. The company has sold a 27.1 per cent stake worth Rs 1594 crore. The floor price of the share is reportedly Rs 375.30 against the closing price of Rs 397.45 on Monday.
The identity of the seller is yet to be ascertained, but there was a report that CMS Info Systems' promoter, Sion Investment Holdings Pte Limited, would sell its entire stake. Read more
Share Market Today LIVE | Paytm gains 4% as PPBL reconstitutes its board; Macquarie maintains 'underperform' rating
Paytm shares surge by as much as 4 per cent on BSE as the company's associate company, Paytm Payments Bank (PPBL) announced the reconstitution of its board. Last evening, the fintech company announced that Vijay Shekhar Sharma has stepped down as part-time non-executive chairman of Paytm Payments Bank Limited (PPBL), and the board of the bank has been reconstituted.
PPBL reconstitutes the Board: Ex-Central Bank of India Chairman Shri Srinivasan Sridhar, Retd. IAS Shri Debendranath Sarangi, former Executive Director of Bank of Baroda Shri Ashok Kumar Garg and Retd. IAS Smt. Rajni Sekhri Sibal join the board, according to the company's filing with the exchanges.
Here 's what Paytm investors can do after the latest development
Global brokerage Macquarie has given an 'underperform' rating on the stock with a target of Rs 275, signifying a downside of 36 per cent from the last traded price. The brokerage maintained that after Vijay Shekhar Sharma has resigned from the board of PPBL, will the apex bank reconsider its stance. At present 51 per cent of the stake in PPBL is owned by Vijay Shekhar Sharma.
Furthermore, the brokerage stated that we cannot expect RBI to authorise any Related- Party Transactions between Paytm & PPBL hereon. This move by Sharma suggests that he is willing to give up his control of PPBL. If PPBL is allowed to carry out its business, it will add up to the profitability of Paytm. Read more
Share Market Today LIVE | Dixon Tech, Whirlpool of India trade down after this brokerage cut prices
Dixon Tech and Whirlpool of India are trading lower after brokerage Jefferies downgraded both companies.
Jefferies on Dixon Tech
Dixon Tech is trading lower by 2.93 per cent, or Rs 203.20, at Rs 6739.8 on BSE. Jefferies has downgraded the tech firm to 'underperform' from 'hold', cutting the target to Rs 5920 from Rs 6440.
Jefferies on Whirlpool of India
Whirlpool of India slips by 2.58 per cent, or Rs 32.55, at Rs 1229.20 on BSE. Jefferies has downgraded the appliance maker to 'underperform' from 'hold', cutting the target price to Rs 1125 from Rs 1265. Read more
Anil Singhvi Market Strategy | Important levels to track in Nifty50, Nifty Bank today
Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 22,000-22,075 levels and a strong buy zone at 21,875-21,950 levels on Tuesday, February 27. For the Nifty Bank, he expects support to come in at 46,275-46,425 levels and a strong buy zone at 46,050-46,225 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Share Market Today LIVE | Parachute, Nihar, Set Wet maker’s board meets today to consider interim dividend
Homegrown FMCG major Marico's board is scheduled to meet on Tuesday, February 27, to consider a second interim dividend for the financial year 2023-24. It has already set March 6 as the record date for any such payout, if declared.
Marico dividend 2024 record date
“A meeting of the Board of Directors of the Company is scheduled to be held on Tuesday, February 27, 2024, to inter-alia consider a proposal for declaration of Second Interim Equity Dividend, if any, for the financial year 2023-24. In the event of the Second Interim Equity Dividend being declared by the Board of Directors, the record date for the same pursuant to Regulation 42 of the SEBI Listing Regulations shall be March 6, 2024,” Mumbai-headquartered Marico, whose popular brands include Parachute, Nihar, Saffola, Livon and Set Wet, said in a regulatory filing dated February 19. Read more
Share Market Today LIVE | Nifty above 22,100, Sensex drops over 50 pts in opening deals
Nifty 50
Source: NSESensex
Source: BSE
Currency Market | Rupee turns flat at 82.88 against US dollar in early trade
Dividend Stock | NMDC shares trades ex-date today
Shares of state-run iron ore producer National Mineral Development Corporation (NMDC) will trade ex-dividend on Tuesday, February 27. The Navratna public sector undertaking (PSU) announced a 575 per cent payout, or Rs 5.75 per equity dividend of the face value of Re 1 for the fiscal year 2023–24.
NMDC in a filing dated February 14 read, "Board in the said meeting also declared 1st Interim Dividend @ ₹ 5.75 (Rupees five and seventy-five paise only) per equity share of the face value of Re.1/- each for the financial year 2023-24."
NMDC dividend 2024 record date
NMDC's board has set February 27 as the record date for the payment of the interim dividend.
Stocks to Watch | Wipro, Canara Bank, Tanla Platforms, other stocks
Here are some stocks that will be in focus on Tuesday, February 27:
Wipro: The company announced a private wireless solution with Nokia to help enterprises scale their digital transformation.
Canara Bank: The board approved a stock split in the ratio of 1:5, where for every one share having a face value of Rs 10, there are five shares with a face value of Rs 2.
Andhra Cements: The company's promoters proposed an offer for sale (OFS) of over 46 lakh shares, or a 5 per cent stake, through a stock exchange mechanism.
Tanla Platforms: The company launched its new product, Trubloq.ai, leveraging generative AI to elevate the trusted Trubloq experience.
Hind Rectifiers: The company secured orders worth more than Rs 200 crore from Indian Railways.
Grauer & Well (India): The board approved the issuance and allotment of bonus shares in the proportion of 1:1. As per the filing, 22,67,05,750 equity shares of Re. 1 each will be issued. Read more
Share Market Today LIVE | GIFT Nifty futures indicate a flat start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are down 10.15 points or 0.05 per cent at 22,131.5 ahead of the opening bell on Dalal Street.
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