Share Market HIGHLIGHTS: Sensex ends 1,245 pts higher at 73,745, Nifty settles above 22,300 for first time
Share Market Today LIVE: Domestic equity benchmarks Nifty 50 and Sensex scaled fresh peaks on Friday, March 1 helped by impressive GDP data and fresh foreign fund inflows. Catch minute-by-minute updates of all the action in the Indian share market today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.coms blog.
Share Market Today LIVE: Domestic equity benchmarks Nifty 50 and Sensex scaled fresh peaks on Friday, March 1 helped by impressive GDP data and fresh foreign fund inflows. Also, a rally in global markets added to the positive momentum in the equity markets.
Catch minute-by-minute updates of all the action in the Indian share market today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
Latest Updates
Share Market Today: Fresh record closing highs on Dalal Street; Sensex soars 1,245 pts to 73,745, Nifty50 settles above 22,300 for first time
Share Market Today LIVE: ICICI Bank, HDFC Bank, L&T, Tata Steel among top contributors to Sensex's rise
Share Market Today LIVE | Should you buy TCS, Asian Paints, BPCL, HPCL, IOCL, GAIL, other stocks today? Here is what brokerages recommend
Here's what CLSA, Macquarie, Citi, HSBC and Nomura make of stocks such as Tata Consultancy Services (TCS), Asian Paints, Bharat Petroleum Corporation Ltd (BPCL), Hindustan Petroleum Corp Ltd (HPCL), Indian Oil Corporation Ltd (IOCL), and GAIL:
Asian Paints share price target:
Macquarie has maintained an 'outperform' rating on the Asian Paints stock with a target of Rs 4,000.
Hindalco share price target:
CLSA has a 'buy' call on the Hindalco Industries stock with a target of Rs 635.
BPCL share price target:
HSBC has maintained a 'buy' call on the Bharat Petroleum Corporation Ltd (BPCL) stock with a target of Rs 860.
HPCL share price target:
HSBC has maintained a 'buy' call on the Hindustan Petroleum Corp Ltd (HPCL) stock with a target of Rs 630. Read more
MARKET AT ALL-TIME HIGH | Nifty scales fresh peak of 22,325.95; Sensex at 73,678.52
Share Market Today LIVE: Buy UCO Bank shares, says Tejas Shah
Tejas Shah of JM Financial Services shares two recommendations with Zee Business viewers:
- Buy UCO Bank shares for targets of Rs 63 and Rs 67 with a stop loss at Rs 54
- Buy Ambuja Cements shares for targets of Rs 645 and Rs 670 with a stop loss at Rs 584
Traders' Diary | Buy, sell or hold strategy on L&T, Britannia, Hindalco, Voltas, over a dozen other stocks today
Zee Business research team shares exclusive research on 20 stocks that investors and traders can track on Friday, March 1. Check out the complete list of stocks on analysts Kushal Gupta and Ashish Chaturvedi's radar.
Here's the complete list of investment and trading ideas for the day:
Kushal Gupta
- Buy Jindal Steel and Power Ltd (JSPL) shares in the cash segment for a target price of Rs 670 with a stop loss at Rs 640
- Sell Vedanta futures for a target of Rs 263 with a stop loss at Rs 274
- Buy the Rs 1,110 call option of Voltas at Rs 46.5 for a target of Rs 76 with a stop loss at Rs 30
- Technical pick: Sell Aurobindo Pharma shares for a target price of Rs 1,000 with a stop loss at Rs 1,043
- Fundamental pick: Buy Landmark Cars shares for a target of Rs 850 with a perspective of 12 months
- Investment idea: Buy ICICI Lombard shares for a one-year target of Rs 2,050
- News-based pick: Sell Biocon for a target of Rs 270 with a stop loss at Rs 283. Read more
MARKET AT AL-TIME HIGH | Nifty crosses 22,300 for 1st time ever, Sensex scales fresh peak of 73,590.58 led by financial, oil & gas stocks
Share Market Today LIVE: Mahindra & Mahindra shares give up some of day's gains after scaling all-time peak
M&M shares are holding on to green territory with a gain of 0.9 per cent at Rs 1,950.9 apiece on BSE, having risen as much as 2.1 per cent to touch a record high of Rs 1,974.6 apiece within the first few minutes of trade today.
Catch the latest Auto sales February 2024 LIVE updates here
Share Market Today LIVE | Vedanta shares listless after SC dismisses plea to reopen Sterlite copper smelter plant in Thoothukudi
Anil Agarwal-led Vedanta shares traded on a flat note on Friday, March 1, a day after the Supreme Court rejected the mining firm Vedanta's plea to commence operations at the Sterlite Copper smelter plant in Thoothukudi, Tamil Nadu. Vedanta shares declined as much as 1.6 per cent to the day's low of Rs 263.6 on NSE in early deals.
The Supreme Court dismissed its plea for re-opening its copper smelting plant in Tamil Nadu's Thoothukudi, closed since May 2018 over pollution concerns, while underscoring the importance of the health and welfare of the residents.
MARKET AT ALL-TIME HIGH | Nifty scales fresh peak of 22,302.75; Sensex at record 73574.02 led by financial, oil & gas stocks
Share Market Today LIVE | Sensex scales fresh peak of 73574.02
IPO Update | Mukka Proteins IPO subscribed 3.94 times on Day 2 so far
Mukka Proteins launched its initial public offering (IPO) on Thursday, February 29. The issue will conclude on Monday, March 4.
Mukka Proteins IPO subscription status
According to provisional exchange data, Mukka Proteins IPO's share sale received bids for 22,06,46,840 shares against 5,60,00,435 shares on offer, translating into a subscription of 3.94 times on Friday so far, the second day of the bidding process.
Category Subscription (No. of times the equity reserved) Qualified institutional buyers 1.01 Non-institutional investors 2.75 Retail investors 6.12 Overall 3.94 Source: Exchange data Mukka Proteins IPO price band
The company that manufactures fish meal, fish oil, and fish soluble paste has fixed a price band of Rs 26–28 apiece for its Rs 224 crore IPO.
The issue is entirely a fresh issue of up to 8 crore equity shares, aggregating to Rs 224 crore at the upper end of the price band, with no offer-for-sale (OFS) component, the Manguluru-based company said. Read more
Share Market Today LIVE | Nifty reclaims 22,200, Sensex gains nearly 750 pts led by financial, oil & gas stocks
Share Market Today LIVE | Hindalco gets a 'buy' call from CLSA; TP set is around all-time high levels
Shares of Hindalco Industries, the flagship company of the Aditya Birla Group trade at Rs 516.45, gaining 2.65 per cent on BSE as brokerage firm CLSA has upgraded the stock to a 'buy' from the previous 'underperform' call. The brokerage has set a price target close to its all-time high of Rs 635, touched nearly two years ago. Its all-time level is Rs 636 on the BSE, which was hit on March 29, 2022.
The upgrade in the stock comes after a steep correction to the tune of over 17 per cent on a year-to-date basis. The brokerage maintains that the concern is overdone. However, it is still skeptical about the recently announced IPO by the company's US-based subsidiary Novelis and says that whether it will lead to value unlocking or building a war chest is not known yet.
Investors need to be watchful of the use of cash and growth projects, the brokerage added.
However, the bear case analysis suggests a further 10 per cent–12 per cent downside from current levels, even though existing businesses remain strong with gradual improvement in profitability, CLSA notes. Read more
Share Market Today LIVE | Oil & gas stocks buzz in trade; OMCs rally on HSBC upgrade
OMCs, after the recent stupendous rally, have been winners of both bearish and bullish calls. In the recent round of brokerage calls, HSBC has turned bullish on OMCs. It has given a 'buy' rating to all the OMC companies, including BPCL, HPCL, and IOC.
The brokerage maintains that while these stocks have seen a re-rating, there is further room. The foreign brokerage expects a range-bound oil price in the near term, which will support profitability. Further, the medium-term outlook also remains positive due to refinery upgradation, noted the brokerage.
HSBC also said that it has revised valuation multiples to reflect reduced government intervention. Read more
Stock TP Potential Upside BPCL 860 42% HPCL 630 24% IOC 185 11% Share Market Today LIVE | Paytm shares rise after firm discontinues inter-company pact with PPBL
The stock of One 97 Communications, the parent company of Paytm, trades higher on Friday. The stock draws buying interest after Paytm and Paytm Payments Bank (PPBL) mutually agreed to discontinue various inter-company agreements.
Extending the gains for the second session, the counter trades at 3.52 per cent, or Rs 14.25, higher at Rs 419.45 on NSE.
In an official filing dated March 1, the company informed that the company and its associate entity, PPBL, have introduced additional measures to strengthen their approach towards independent operations of PPBL.Share Market Today LIVE | GPT Healthcare falls over 7.6% after promoter Nomura Singapore sells stake
GPT Healthcare slid over 7.6 per cent on BSE after its promoter Nomura Singapore sold over 4.50 lakh shares in the company. The stock of the company that was listed on February 29 is trading lower by 7.42 per cent, or 14.90, at Rs 185.85 on BSE. Read more
Stocks to Buy | Maruti Suzuki, United Spirits, Marico among analysts' top picks for March F&O series
Dalal Street is set to enter a new monthly series of derivatives on Friday, March 1. In conversation with Zee Business Managing Editor Anil Singhvi, market experts Rakesh Bansal, Kunal Saraogi, Siddharth Sedani, Sacchitanand Uttekar and Sumeet Bagadia share their top stock recommendations in this special segment, Pick of the Series.
On the top analysts' 'buy' list are stocks such as Maruti Suzuki India, United Spirits, Marico, Torrent Pharmaceuticals and MCX. Read more
Share Market Today LIVE | Zomato hits record high; shares skyrocket 205% in 12 months
The dream continues for Zomato shares on Friday, March 1, as the stock of the food services aggregator jumps as much as Rs 7.95, or 4.8 per cent to hit an all-time high of Rs 173.45 on BSE, surpassing an earlier peak of Rs 169.10 touched on November 16, 2021. Read more
Image: Reuters 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 21,875-21,925 levels followed by stronger support in the 21,800-21,850 zone on Friday, March 1. For the Nifty Bank, he expects support to come in at 45,850-45,975 followed by stronger support at 45,525-45,675 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Share Market Today LIVE | Nifty crosses 22,100, Sensex gains nearly 400 pts in opening deals
Nifty 50
Source: NSESensex
Source: BSE
Currency Update | Rupee rises 2 paise to 82.87 against US dollar in early trade
Stocks to Watch | Landmark Cars, Craftsman Automation and United Breweries, other stocks
Here are the stocks to keep a watch on Friday (March 1):
United Breweries: The company in Karnataka market has launched new brand- London Pilsner Strong Beer in the strong beer market.
Landmark Cars: Landmark Cars has received a letter of intent from MG Motor India for opening a dealership in Ujjain, Madhya Pradesh. This dealership will be established by Aeromark Cars Private Limited, a wholly-owned subsidiary of Landmark Cars.
Craftsman Automation: The company via an exchange filing informed that it will commence the commercial operations of its new plant at Sriperumbudur w.e.f. March 1, 2024.
Auto stocks: Auto stocks will gain focus as February sales will be released by auto companies today.
Dish TV: In the bulk deal, BNP Paribas Arbitrage sold 28,446,351 equity shares at an average price of Rs 21.05 per share.
Vedanta: The stock of the diversified metals company will be in focus as the apex court has rejected the plea to commence the operation of its Tuticorin plant.
Paytm: The company has cancelled several agreements with Paytm Payments Bank Limited (PPBL) in view of some of the independent future plans. Read more
Share Market Today LIVE | GIFT Nifty futures indicate a positive start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are up 44.5 points or 0.2 per cent at 22,205 ahead of the opening bell on Dalal Street.
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