Page 29 - Market Trends

Derivatives analyst Nandish Shah recommends bull spread strategy on L&T

The analyst from HDFC Securities recommends buying 1920 Larsen & Toubro October Call and selling 1960 Call of the same series.

Stocks to Watch: Titan, Dabur, Nykaa, HCL Tech, Mahindra Life, Quess Corp

Stocks to Watch Today: Shares of Titan are likely to be in focus after the company reported 18 per cent sales growth for the September quarter; Dabur may see a downtick owing to earnings warning.

Risk-reward is still favourable for the long-term: ICICI Pru Life Insurance

Nifty's earnings are in high teens and this premium growth merits higher valuations, says Manish Kumar, CIO of ICICI Prudential Life Insurance.

Oil prices to top $100 per barrel mark on OPEC+ output cut: Analysts

The OPEC+ on Wednesday announced its decision to cut crude oil output by 2 million barrels per day, the new production cap levels will come into force from November 2022.

Praj Industries hits record high on strong order inflow hopes; stock up 9%

Analysts believe that the company sounded positive about the strong order inflows in the coming quarters, given government's target to achieve 20 per cent ethanol blending by 2025 (EBP-20)

Zee Entertainment gains 6% after CCI's conditional nod for merger with Sony

Analysts believe that the approval paves way for the consummation of the merger by Q4 of this fiscal year.

Vinay Rajani of HDFC Securities expects markets to remain bullish for now

Among individual stocks, the technical analyst recommends buying JK Tyre and J.B.Chemicals & Pharma.

Nifty Pharma index surpasses 200-DMA; Cipla, Granules can soar up to 15%

The Pharma benchmark has outperformed the overall market in recent trading sessions; sustenance above 200-DMA is likely to trigger further gains for it

M&M Finance soars 10% as asset quality improves in September quarter

As on September 30, 2022, the company expects its Gross Stage 3 to be around 7 per cent as compared to 8 per cent in Q2FY23 and Gross Stage 2 to be around 10 per cent as against 11.7 per cent.

Easy Trip Planners surges 8% on bonus issue, stock split plan

The board of directors of the company are scheduled to meet on Monday, October 10, 2022, for considering the proposal for issue of bonus shares and/or sub-division/split of shares.

Trading Strategies in Bandhan Bank, Eris Lifesciences by Mehul Kothari

According to the technical analyst from Anand Rathi, Bandhan Bank can be shorted for a price target of Rs 272, while Eris Lifesciences can be bought for a target of Rs 800.

Nykaa soars 11% after board approves 5:1 bonus share

The company has fixed November 03, 2022, as the record date for the purpose of determining shareholders eligible for bonus equity shares.

Chalet Hotels up 6%, hits 52-week high in a weak market on ratings upgrade

The Positive Outlook reflects a consistent recovery in CHL's business operations since 2QFY22, with 1QFY23 revenue and EBITDA exceeding the pre-COVID-19 levels.

Stocks to Watch: Suzlon, RIL, ONGC, Gas, Airtel, HFCL, Adani Enterprises

Stocks to Watch Today: Domestic oil & gas related stocks are likely to be in focus as the government reduced tax on the former, while raised prices of natural gas to record levels.

Adani Green Energy up 20% on heavy volume; exchange data shows block deal

In September, Spitze Trade and Investment Limited, one of the promoters of AGEL acquired 4 million equity shares representing 0.25 per cent of total equity of the company via open market deals.

Post rate hike by RBI, SBI, BoB look stronger than private banks on charts

Public sector banks are well placed on charts, indicate positive upside in coming days, while Private Banks rigorously need to take off their respective hurdles.

Gujarat Flurochem hits new high on healthy outlook; zooms 109% in 1 year

Adoption of 5G-enabled smartphones in India is expected to triple and this, in turn, will drive the fluoropolymers market and benefit the Gujarat Fluorochemicals.

Aurionpro soars to 14-year high; stock up 83% in the last 3 months

The stock hit an intra-day high of Rs 468, and has surged 14% in the last two trading sessions.

Derivatives analyst Nandish Shah recommends selling Axis Bank futures

The analyst from HDFC Securities recommends selling Axis Bank October contract on rise with a stop loss at Rs 745, for a downside target of Rs 705.

Sun Pharma extends rally, surges 7% in two days; now trades at 5-month high

Sun Pharma could see structural growth and be relatively insulated from the adverse price erosion scenario in the US, according to analysts.