GAGA Share Market News

[hfe_template id='11223'] [ad_1] Equity indices Sensex and Nifty rebounded sharply on Monday after five days of steep decline amid value buying at lower levels and a supportive trend in global markets. Stocks that were in focus include names like SAIL, which rose 4% and Aurobindo Pharma, which gained 1% and HPCL, whose shares declined nearly 1% on Monday. Here's what Ameya Ranadive, CMT, CFTe, Sr Technical Analyst at StoxBox, recommends investors should do with these stocks when the market resumes trading today. SAIL Steel Authority of India Ltd (SAIL), currently trading at Rs 121, offers an attractive risk-reward setup after a significant correction from its recent highs. The stock is consolidating near crucial support levels, with the downside risk mitigated as long as it holds above Rs 110. Technical indicators like RSI, currently at 51, show a bullish divergence, suggesting the potential for a rebound. Additionally, the ADX indicates weakening selling momentum, w...

[hfe_template id='11223'] [ad_1] Shares of Piramal Enterprises surged nearly 3% to their day’s high of Rs 1,123.65 on the BSE after the company’s Board of Directors on Friday approved the company's plans to raise up to Rs 2,000 crore via issuance of Non-Convertible Debentures (NCDs). The fundraise may take place in one or more tranches and the face value of the shares will be Rs 1,000 each. “Pursuant to Regulations 30 and 51 of the SEBI Listing Regulations, we write to inform you that at the meeting of Administrative Committee (‘Committee’) of the Board of Directors held today, the Committee approved the public issuance of secured Non-Convertible Debentures of face value Rs. 1,000 each aggregating up to Rs. 2,000 crores in one or more tranches,” said the company in an exchange filing. Piramal Group is a global business conglomerate with diverse interests in pharma, financial services and real estate. The Group has offices in over 30 countries and a global brand prese...

[hfe_template id='11223'] [ad_1] Mumbai: Piramal Finance is considering entering the gold loan market, launching co-branded credit cards and expanding its microfinance portfolio, a three-pronged strategy aimed at diversifying its loan books to avoid concentration risk, managing director Jairam Sridharan said in an interaction with ET. The finance company is likely to move towards "predictable profitability" by the end of this fiscal year as it shrinks its legacy book, which is expected to decrease the volatility in the earnings number, he said. Consistency in earnings is a factor that most investors have preferred over surprises. The legacy books - the stressed loans in Piramal's book even before it acquired Dewan Housing Finance (DHFL) - will be down to ₹7,000 crore by the end of this financial year. Stressed loans fell from ₹51,435 crore in March 2019 to ₹13,000 crore currently. "Reduction in the legacy book is what drives a lot of the volatility bec...

[hfe_template id='11223'] [ad_1] Domestic markets continued their recovery rally this week, buoyed by positive US economic data, which diminished the likelihood of a US recession. Moreover, positive global sentiments from ceasefire talks between Israel and Hamas, along with a decline in crude prices, contributed to the rally. During the week, as many as 152 smallcap stocks have delivered double-digit weekly gains with nine of them offering over 30% returns. This is more than thrice the number of smallcaps [43] that gained in double-digits last week. Rane Madras was the top gainer in the smallcap pack with a 39% return, followed by SEPC (38%), Shriram Properties (36%), and Tasty Bite Eatables (35%). About 3 stocks, including Nelco, Uflex and TVS Electronics, have offered returns between 25 and 30% during the week. In the midcap segment, three stocks, including Piramal Enterprises, New India Assurance and Voltas, have risen in double digits. While Piramal has gained 11%, N...

[hfe_template id='11223'] [ad_1] Eleven stocks are under F&O trade ban on Friday viz. Balrampur Chini, Bandhan Bank, GMR Airports Infrastructure, Gujarat Narmada Valley Fertilizers and Chemicals (GNFC), Hindustan Aeronautics Limited (HAL), Hindustan Copper, The India Cements, Piramal Enterprises (PEL), RBL Bank, Steel Authority of India (SAIL) and Vedanta. Chambal Fertilizers & Chemicals has moved out of the ban. The Future & Options contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%. Traders who trade in index do not encounter a situation of security ban. The MWPL for Balrampur Chini stood at 90.6% on Thursday with OI reported by Trendlyne at 7.8 million. It was down 6.6% from the previous session.The MWPL for Bandhan Bank stood at 95.9% on Thursday with OI reported by Trendlyne at 78.6 million. It was down b...