Page 6 - Stock Market Trading
South Indian Bank plunges 17% as MD & CEO opts out of reappointment
The board said it considered the request of Murali Ramakrishnan, Managing Director & CEO, not to offer himself for re-appointment due to personal reasons/family circumstances.
 "South Indian Bank plunges 17% as MD & CEO opts out of reappointment")
Adani Ent zooms 7% as Group CFO refutes report of incomplete debt repayment
The Group refuted The Ken news report, stating it as "baseless and deliberately mischievous".
 "Adani Ent zooms 7% as Group CFO refutes report of incomplete debt repayment")
Nykaa trades lower for 8th straight day, down 11%; stock nears record low
The stock was down 2 per cent so far today and quoted close to its record low level of Rs 120.75, touched on January 23, 2023.
 "Nykaa trades lower for 8th straight day, down 11%; stock nears record low")
Bandhan Bank crashes to 3-year low on heavy volumes
The stock has slipped 6% to Rs 185.45 and trades at its lowest level since April 2020.
 "Bandhan Bank crashes to 3-year low on heavy volumes")
Inverse H&S in pharma index could revive a positive bias for short-term
Pharma shares like Aurobindo Pharma, Zydus Lifesciences, Sun Pharmaceutical Industries Ltd, Glenmark Pharmaceuticals may rise up to 14 per cent.
 "Inverse H&S in pharma index could revive a positive bias for short-term")
Charts suggest Nifty Auto in 'oversold' zone, rebound likely: Ravi Nathani
According to the technical analyst, traders should adopt a buy-on-dips approach for the Nifty Auto index, with a minimum target of 12,236
Aditya Birla Sun Life tanks 12% in 2 days; stock hits record low
Finance Bill 2023 has introduced an amendment that will classify capital gains arising from debt mutual funds as only short-term capital gains.
 "Aditya Birla Sun Life tanks 12% in 2 days; stock hits record low")
OFS may trigger sell-off in HAL shares; is it time to accumulate or avoid?
Hindustan Aeronautics shares may dip up to 20 per cent upon breaking key support.
 "OFS may trigger sell-off in HAL shares; is it time to accumulate or avoid?")
Morepen Labs zooms 18% on USFDA nod with NIL observations for HP facility
Earlier this month, the company had incorporated a wholly-owned subsidiary, Morepen RX.
 "Morepen Labs zooms 18% on USFDA nod with NIL observations for HP facility")
Realty shares in focus; Godrej Properties, Indiabulls, Sobha hit 52-wk lows
Media reports suggested that stamp duty may be increased by 1% in Maharashtra along with a hike in ready reckoner rates.
 "Realty shares in focus; Godrej Properties, Indiabulls, Sobha hit 52-wk lows")
India to outperform Asian, EM peers; high valuation a challenge: Chris Wood
Will remain slightly Overweight India in the Asia Pacific ex-Japan relative-return portfolio, says Christopher Wood, global head of equity strategy at Jefferies in his GREED & Fear note to investors.
 "India to outperform Asian, EM peers; high valuation a challenge: Chris Wood")
Sensex sinks 398 pts, Nifty below 16,950 as STT hike, global cues weighs
CLOSING BELL: The debt mutual fund (Debt MF) investors will no longer receive the long-term capital gain tax benefit. Moreover, the Centre also hiked the STT on the sale of F&O contracts
HDFC AMC, UTI AMC: AMC stocks may fall up to 15% on debt fund tax blow
Selective AMC stocks like Nippon Life India Asset Management and Aditya Birla Sun Life Amc could slip up to 15 per cent, show technical charts
 "HDFC AMC, UTI AMC: AMC stocks may fall up to 15% on debt fund tax blow")
Sundaram-Clayton trades ex-date for scheme of arrangement; stock slumps 19%
The board at its meeting held on February 9, 2022 has approved the Composite Scheme of Arrangement of the company for issue of bonus NCRPS and demerger of manufacturing undertaking.
 "Sundaram-Clayton trades ex-date for scheme of arrangement; stock slumps 19%")
Godrej Properties, Amber Enterprises hit 52-week lows; LIC at life-time low
LIC hit a life-time low of Rs 562.35, falling below its previous low of Rs 566 touched on February 27, and was down 9% in three weeks.
 "Godrej Properties, Amber Enterprises hit 52-week lows; LIC at life-time low")
Campus Activewear slips 7% after over 9% equity changes hand on NSE
According to media report private equity firm TPG had plans to sell 7.62 per cent stake worth Rs 800 crore in Campus Activewear via block deal at Rs 345 per share.
 "Campus Activewear slips 7% after over 9% equity changes hand on NSE")
Traders can adopt 'buy-on-dips' strategy for Nifty Media: Ravi Nathani
According to the technical analyst, the Nifty Media Index is currently displaying a range-bound pattern, with fluctuations occurring within a prescribed range
 "Traders can adopt 'buy-on-dips' strategy for Nifty Media: Ravi Nathani")
Bajaj twins hit new lows every month since November 2022; weakness persists
Every reversal in Bajaj twins is expected to face sell-off, until key levels are not conquered, with aggressive volumes.
Hindustan Aeronautics tumbles 6% on pricing OFS at discount
The government will be offloading 3.5 per cent stake in HAL through an Offer for Sale at Rs 2,450 per share from March 23 - 24, 2023.
Nazara Tech jumps over 3% on buying majority stake in Pro Football Network
Brokerage firm ICICI Securities has a 'Buy' rating on the stock with a target price of Rs 700 per share.