GAGA Share Market News

[hfe_template id='11223'] [ad_1] Shares of state-run Power Finance Corporation (PFC) fell over 3% to Rs 423 on the BSE in Wednesday’s trade after the company disclosed an outstanding exposure to controversy-hit Gensol Engineering. In a statement released on Tuesday evening, PFC revealed that out of the Rs 352 crore it had disbursed to Gensol Engineering in 2023 for leasing electric vehicles, Rs 307 crore remains unpaid. The company is actively pursuing options to address the situation, including filing a complaint with the Economic Offences Wing of the police over the alleged falsification of documents. In January 2023, PFC sanctioned Rs 633 crore to Gensol Engineering for the procurement of 6,000 electric vehicles, including Rs 587 crore for the purchase of 5,000 electric four-wheelers for BluSmart Mobility's ride-hailing service and Rs 46 crore for 1,000 electric three-wheelers for cargo operations. However, the three-wheeler loan was not utilised by Gensol, PFC me...

[hfe_template id='11223'] [ad_1] Shares of power financiers PFC and REC surged up to 4.5% in an early trade on the BSE today, January 14, after domestic brokerage firm ICICI Securities initiated coverage on the stocks, issuing "Buy" ratings for both with a target price of Rs 550 for PFC and Rs 600 for REC. Following this, PFC shares rallied 4.4% to their day’s high of Rs 406.40, while the shares of REC surged by 3.65% to an intraday high of Rs 462.65 on the BSE. The report highlights a substantial Rs 43 lakh crore pipeline for power generation and transmission projects as a key growth driver for these financiers. This pipeline represents significant lending opportunities for PFC and REC. ICICI Securities, in its note also identified energy transition funding as a crucial catalyst for growth in the sector. As India moves towards renewable energy sources, the need for financing in this area is expected to increase, which is likely to benefit these companies. Both...

[hfe_template id='11223'] [ad_1] The Nifty futures closed negative, with losses of 0.10%, at 23,491 levels on Tuesday. The Indian market remained shut on Wednesday, due to a public holiday.On the options front, the maximum Call OI is placed at 24,000, and then at 23,700 strikes, while the maximum Put OI is placed at 23,000, and then at 23,500 strikes. Call writing is observed at 23,900, then at 24,200 strikes, while Put writing is seen at 23,700, then at 23,600 strikes. “Options data suggests a broader trading range between 23,000 and 23,900 zones, with an immediate range between 23,300 and 23,700 levels,” said Chandan Taparia, Head of Equity Derivatives & Technicals, Wealth Management, MOFSL. “Nifty formed a small-bodied bearish candle on the daily chart on Tuesday, with longer upper shadows, and broke the lower lows formation of the last seven sessions,” he added. “Now, until Nifty holds below the 23,500 zones, weakness could be seen towards 23,350, then 23,200 zon...

[hfe_template id='11223'] [ad_1] MRF, PFC and United Breweries are among a host of other companies that are likely to remain in focus this week as they are approaching their record dates for the purpose of dividend declaration, bonus issues and stock split.The record date is set by the company to select shareholders who are eligible to receive the offer. To be eligible for a buyback offer, bonus issue or a stock split, the shares should be in the demat account of shareholders on the record date. Here is a list of stocks nearing their record date for various corporate actions in the coming week: July 22: Record date for dividend Exide Industries ' board declared a dividend of Rs 2 per share. Happy Forgings to offer a dividend of Rs 4 per share to its eligible shareholders. Carborundum Universal had declared a dividend of Rs 2.5 per share. Divgi Torqtransfer Systems announced a dividend of Rs 2.6 per share. Indian Metals & Ferro Alloys will pay out a final divid...

[hfe_template id='11223'] [ad_1] Shriram Finance, REC, IRCTC were among five stocks that witnessed a buildup of fresh long positions on Thursday. The buildup of fresh long positions can be seen when the stock prices move up and open interest on the counter also moves upward. The signal is considered more reliable if the volume on the counter has also seen an increase. Open interest indicates that bulls are likely to dominate the following counters. REC's stock price jumped 7.16%, and open interest saw a rise of 0.38%. Hindustan Aeronautics surged by 6.23%, and open interest saw an increase of 4.24%. IRCTC rose 5.86%, and the open interest saw an increase of 0.25%.PFC stock rose 5.77%, and the open interest saw an increase of 0.58%.Shriram Finance's stock price gained 4.77%, and open interest saw an increase of 3.05%. Also Read: Exide Industries, BHEL among 5 stocks with long buildup Some additional checks would help traders in taking better trading decisions as t...

[hfe_template id='11223'] [ad_1] Benchmark equities rose on Tuesday as stock markets continued the winning march for the third straight day on the back of gains. In today's trade shares of PFC, Mankind Pharma, Patanjali Foods, Bharti Airtel, Siemens, Cipla among others will be in focus due to various news developments and quarterly results. PFC, Mankind Pharma, RVNL, Dixon, Titagarh PFC, Mankind Pharma, RVNL, Dixon and Titagarh will be in focus as the companies will announce their fourth quarter results today. Patanjali Foods Patanjali Foods posted a 22% drop in its standalone net profit at Rs 206 crore for the quarter ended March 2024, compared with Rs 264 crore in the year-ago period. Bharti Airtel Telecom major Bharti Airtel on Tuesday reported 31% fall in its consolidated net profit at Rs 2,072 crore for the quarter ended March 2024. Siemens The Board of Siemens has approved a scheme of arrangement, under which the energy business will be demerged into a separate...