Share Market HIGHLIGHTS: Sensex ends 33 pts higher, Nifty at 22,494 FMCG, metal stocks lead gains; Tata Consumer, Tata Steel up 4%

Share Market Today: Sensex ends 33 pts higher, Nifty at 22,494; FMCG, metal stocks lead gains; financial, oil & gas stocks play spoilsport

Share Market Today LIVE | Tata Steel, Sun Pharma, other stocks hit 52-week highs

As many as five stocks in the S&P BSE basket reached the milestone. 

Share Market Tips LIVE | Buy Ircon International, India Nippon Electricals shares, says Vikas Sethi 

Vikas Sethi of Sethi Finmart recommends buying Ircon International shares for a target of Rs 240 with a stop loss at Rs 215. Besides, recommends buying India Nippon Electricals shares for a target of Rs 760 with a stop loss at Rs 710.

MARKET AT ALL-TIME HIGH | Nifty scales fresh peak of 22,525.65

Share Market Today LIVE | Nifty Bank trades over 100 pts lower

Source: NSE

Share Market Today LIVE | City gas distribution firms' shares in focus for 2nd straight day; check out the reasons

Shares of city gas distribution (CGD) companies trade mixed as both companies announced a cut in the price of CNG, or compressed natural gas. On the heels of Mahanagar Gas slashing the CNG rates, Indraprastha Gas also announced on Wednesday a reduction in CNG rates in the Delhi/NCR region by Rs 2.5 per kg, with effect from today.

Mahanagar Gas has pared some of the losses and is up by a marginal 0.12 per cent to Rs 1,330.95 per share on BSE. In the previous session, the Mumbai-based company saw a steep cut of over 15 per cent as Citi downgraded the stock to sell with a target price of Rs 1,405. The downgrade largely came as the Petroleum Ministry maintained that the CGDs are not transferring the benefits these companies avail of from the centre to consumers. Citi says this comment could translate into renewed concerns about exclusivity and margins. Read more

Share Market Today LIVE | Jupiter Wagons secures over Rs 956 crore order from Ministry of Railways; stock jumps 9%

Shares of Jupiter Wagons trade 3.7 per cent higher at Rs 375.3 on BSE after the company bagged an order worth over Rs 956 crore from the Ministry of Railways. "Ministry of Railways (Railway Board), vide its Letter No. 2024/RS(I)/954/1 TC dated March 6, 2024, has placed an offer to the Company for the manufacture and supply of 2,237 numbers of BOSM Wagons for a contract value of Rs. 956,87,67,500/-," the filing read. Read more 

Share Market Today LIVE: Buy UNO Minda shares for target of Rs 760, says Siddharth Sedani

Siddharth Sedani of Anand Rathi Shares & Stock Brokers suggests buying UNO Minda shares for a target of Rs 760 from a perspective of 9-12 months.

IPO Update | Gopal Snacks IPO subscribed 89% on Day 2 so far 

According to provisional exchange data, the IPO of Gopal Snacks, a Rajkot-based manufacturer of ethnic savouries share sale received bids for 1,06,87,746 shares against 1,19,79,993 shares on offer, translating into a subscription of 89 per cent on Thursday, the second day of the bidding process so far. Read more 

IPO Update | JG Chemicals IPO subscribed 9.61 times on final day so far

According to provisional exchange data, zinc oxide manufacturer JG Chemicals IPO's share sale received bids for 7,85,09,126 shares against 81,68,714 shares on offer, translating into a subscription of 9.61 times on Thursday, the third day of the bidding process so far. Read more 

Nifty Today LIVE | TCS, Bharti Airtel, L&T, Bajaj Auto among top movers in 50-scrip gauge

On the contrary, RIL, M&M, ICICI Bank, and ITC are among the top draggers.

Here's a look at the heatmap in the 50-scrip universe by weight:

Source: NSE

Traders' Diary | Buy, sell or hold strategy on Maruti Suzuki, Tata Steel, Hindalco, SBI, Axis Bank, Exide, 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 Thursday, March 7, 2024. 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 Jupiter Wagons shares in the cash segment for a target price of Rs 374 with a stop loss at Rs 358
• Buy HCL Tech futures for a target of Rs 1,700 with a stop loss at Rs 1,630
• Buy the Rs 525 call option of Hindalco Industries at Rs 18 for a target of Rs 30 with a stop loss at Rs 10
• Technical pick: Sell UltraTech Cement for a target price of Rs 9,400 with a stop loss at Rs 9,810
• Fundamental pick: Buy Exide Industries shares for a target of Rs 380 with a perspective of 12 months
• Investment idea: Buy State Bank of India (SBI) shares for a one-year target of Rs 900
• News-based pick: Buy IRB Infrastructure Developers for a target of Rs 64 with a stop loss at Rs 59. Read more

International Women's Day Stocks Picks 2024 | Titan, ITC, Kalyan Jewellers among analysts' top recommendations

In conversation with Zee Business Managing Editor Anil Singhvi, market experts Sumeet Bagadia, Arpit Beriwal, Sandeep Jain and Jay Thakkar share their top stock recommendations in this special segment, Women's Day Pick.

On the top analysts' 'buy' list stocks such as Titan, ITC, Kalyan Jewellars and Sonata Software.

Titan share price target

Sumeet Bagadia of Choice Broking recommends buying Titan shares for targets of Rs 3,850 and Rs 3,880 with a stop loss at Rs 3,770.

Kalyan Jewellers share price target

Arpit Beriwal of MOFSL recommends buying Kalyan Jewellers shares for a target of Rs 444 with a stop loss at Rs 385. Read more 

Share Market Today LIVE | HAL scales 52-week high after increasing LCA IOC contract amount; CARE reaffirms rating 

Hindustan Aeronautics jumped to a 52-week high of Rs 3,322 on BSE after the company amended its LCA IOC contract to increase the amount, and CARE reaffirmed the rating of its long- and short-term bank facilities. The stock is trading higher by 2.63 per cent, or Rs 85.00, at Rs 3313.75 on BSE.

Why HAL is rising?

HAL is rising after the company signed an amendment to the Light Combat Aircraft IOC contract. "The value of the Contract has been revised from Rs. 2700.87 Crore to Rs. 5077.95 Crore," HAL said. Read more

Share Market Today LIVE | JPMorgan revises target for metals & mining stocks; double downgrades NMDC

Global brokerage JPMorgan has revised its target prices on metals and mining stocks. The brokerage expects supply creation to lag demand growth and low-cost steel producers to command better margins and market share as the cyclic expands to the FY26 peak.

According to the analysts at the brokerage, ongoing expansions from JSW Steel and Tata Steel should be value-accretive, yielding a mid-term internal rate of returns (lRRs) ahead of the cost of capital.

JSW Steel remains the top pick of JPMorgan, while NMDC is the least preferred stock of the brokerage in the sector. Here are the target prices on the counters:

JSW Steel share price target

JPMorgan has upgraded JSW Steel to overweight from neutral. The brokerage has raised the target to Rs 980 from Rs 730.

Coal India share price target

The brokerage has downgraded the state-run mining major to neutral from overweight. The brokerage has raised the target on the stock by Rs 190 to Rs 480.

NMDC share price target

JPMorgan has double-downgraded state-run iron ore producer National Mineral Development Corporation (NMDC) to underweight from overweight. However, it has raised the target to Rs 195 from Rs 156. The brokerage expects international iron ore prices to decline in FY25/26. Read more

Mukka Proteins IPO Listing | Bumper Listing! Shares list at premium of 57%

Shares of Mukka Proteins make a strong debut on bourses. Mukka Proteins shares debut at Rs 44 on the BSE, a premium of 57.14 per cent over its issue price of Rs 28. On the National Stock Exchange (NSE) the stock lists at Rs 40 - a premium of 42.86 per cent to the issue price. Read more 

Share Market Today LIVE | BEL's stock likely to rise another 22% after 118% return in one year, says UBS, hits 52-week high

BEL shares clocks a fresh 52-week high of Rs 215.35, surpassing the earlier peak of Rs 213.8 touched on March 5, 2024, on BSE. The trend follows after global brokerage UBS gave a buy call on the counter.

Shares of PSU defence major Bharat Electronics (BEL), similar to other PSUs, have given handsome returns of over 100 per cent in a year, doubling investors' wealth. Further, this rally is expected to not recede going forward, as global brokerage UBS has raised the target to Rs 257 from the earlier Rs 205.

Considering the last closing price, this target implies a possible upside of 22 per cent.

The brokerage maintains that there is significant order book accretion underway and FY24E marks a shift in annual order inflow, while the pipeline adds to growth comfort. The brokerage further stated that the company's management expects Rs 50,000 crore in total orders in FY25/26 (QRSAM of Rs 100 billion included).

Earlier in mid-February, the company announced that it had signed a contract for a value of Rs. 2,167.47 crore plus taxes with the Indian Navy on February 13, 2024, for the supply of state-of-the-art indigenously designed and developed EW suites for use onboard warships. This EW suite is a big leap towards the Aatmanirbhar Bharat initiative of BEL. Read more

Mahindra & Mahindra Block Deal | 0.8% equity change hands via multiple block deals; Prudential Management & Services likely seller

Shares of M&M trade 3.74 per cent, or Rs 73.74, lower at Rs 1,895 apiece on the BSE after 94.7 lakh shares, or 0.8 percent, equity changed hands via multiple block deals on BSE in early deals. As per Zee Business research, Mahindra & Mahindra (M&M) promoter Prudential Management and Services was expected to offload stakes via a block deal. Read more

Share Market Today LIVE | Nifty approaches 22,500, Sensex above 74,100 in early deals

Nifty 50

Source: NSE

Sensex

Source: BSE

MARKET AT ALL-TIME HIGH | Nifty scales fresh peak of 22,523.65; Sensex hits record 74,245.17

Currency Update | Rupee rises 1 paisa to 82.82 against US dollar in early trade

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 22,375-22,425 levels and a strong buy zone at 22,275-22,350 levels on Thursday, March 7. For the Nifty Bank, he expects support to come in at 47,725-47,875 levels and a strong buy zone at 47,475-47,550 levels.

Read more on how Anil Singhvi views the Indian share market today and what he recommends

Share Market Today LIVE | Nifty set to open at new record high as Powell's rate assurance drives global rally

Nifty 50 is set to open at a fresh record high on Thursday, tracking a rally in Asian peers after US Federal Reserve Chair Jerome Powell assured likely rate cuts this year and ruled out near-term risk of economic recession.

GIFT Nifty futures — an early indicator of the Nifty 50 index — are up 51.45 points or 0.23 per cent at 22,644.5 ahead of the opening bell on Dalal Street.

Stocks to Watch | M&M, NLC India, HAL, Jupiter Wagons, IGL, other stocks

Here are some stocks that will be in focus on Thursday, March 7:

Mahindra and Mahindra: The company's promoter, Prudential Management and Services, may sell a 0.76 per cent stake in the entity via a block deal at Rs 1,911.50–1,970.65 apiece.

Infosys: The company renewed its partnership with the ATP Tour until 2026. The three-year extension of the partnership will continue to draw on Infosys’ deep expertise in digital technologies like artificial intelligence, data analytics, and Cloud, which will enrich the fan experience and player performance in professional tennis. 

HAL: The company signed an amendment to the LCA IOC contract. The value of the contract has been revised from Rs 2,700.87 crore to Rs 5,077.95 crore. 

United Spirits: The Deputy Commissioner of State Tax, Mumbai, has levied a demand of Maharashtra Value Added Tax– Rs 1.21 crore (including a penalty of Rs 1 lakh) Central Sales Tax – Rs 3.26 crore on non-submission of statutory declaration forms.

Jupiter Wagons: The Ministry of Railways has placed an offer to the company for the manufacture and supply of 2,237 BOSM Wagons for a contract value of over Rs 956 crore. 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 51.45 points or 0.23 per cent at 22,644.5 ahead of the opening bell on Dalal Street.

Good morning! Welcome to Zeebiz.com's blog on the stock market today

Follow this space to catch minute-by-minute market action, the views of Zee Business Managing Editor Anil Singhvi  and other experts, investment ideas, stock picks, brokerage calls and much more through the day. 

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