US Stock Reports, Quotes and News
Rail Vikas Nigam Limited (RVNL) witnessed a significant surge of over 6% to Rs 272 in Tuesday\’s trading on the Bombay Stock Exchange (BSE) following the announcement of receiving a letter of acceptance for an order worth Rs 239 crore from Southern Railway.
Daljeet Singh Kohli, of Vasuki India Fund, advises diversified investment in auto theme through ancillaries to avoid overexposure. Emphasizes on mid-sized capital goods companies for growth potential amidst market volatility. Kohli says: \”We are not doing anything in our portfolio, we are just sitting tight looking at day-to-day activity in the market.\”
Sanjiv Bhasin predicts market trends post 23,000 crossing, election results. Advocates stock selection, supports AB Group, discusses real estate plays. Emphasizes Ashok Leyland potential over Tata Motors. Prefers Indiabulls Real Estate for better risk-reward.
Jefferies\’ Mahesh Nandurkar sees near-term potential in FMCG, IT, pharma due to under-ownership. Longer-term outlook remains positive on capex, infrastructure and real estate sectors. Retail and foreign investor sentiments sway markets amid election impact. Nandurkar says \”for the broader emerging market flows to improve, we need to get some visibility on the rate cut cycle from the US Fed. That continues to get pushed out.\”
SBI and Godrej Consumer are top buys post Q4 results, led by BFSI and Auto sectors. Nifty stocks show growth, while Tier-1 IT companies face challenges. Business and credit growth outlook positive for SBI.
Top five discount brokers expanded their lead over traditional ones in active clients on NSE, reaching 63.9% share in the previous month, up from 60.1% in April 2023. NSE\’s active clients rose by 2.6% sequentially to 4.18 crore in April, as per Motilal Oswal.
The company\’s revenue from operations increased by 18% to Rs 2,552.4 crore as against Rs 2,163.6 crore in the corresponding period of the preceding fiscal.
Japanese technology giant SoftBank Group swung to a quarterly profit on Monday, reporting a net profit of 328.9 billion yen ($2.11 billion) for the January-March period.
Aashish Somaiyaa, CEO of White Oak Capital AMC, discusses market behavior amidst economic momentum and upcoming elections. He reflects on historical market reactions to changes in leadership, emphasizing the market\’s preference for continuity during strong economic momentum. Somaaiyaa also says he has never seen a bubble where Nifty CAGR across time horizons is 14-15% compounded.
In the ongoing Lok Sabha elections, a low voter turnout has led to a decline in the Sensex and Nifty. Union Home Minister Amit Shah, a BJP leader, has advised investors to view this dip as an opportunity to buy, stating that the market has experienced larger drops before and attributing the current situation to rumors rather than election-related factors.
Last month, the index found support around 21,780 levels, and the 100-Days exponential moving average (DEMA) is placed near 21,820. Therefore, on the downside, 21,780-21,820 will act as the next key support for the index.
China\’s central bank said on Friday it will ensure reasonably ample liquidity and credit expansion to consolidate the country\’s economic recovery, which still faces many challenges.