IndusInd Bank shares rose up to 3.9% after Nomura upgraded the stock to buy and raised its price target by 50% to Rs 1,050, citing improved governance, a cleaned-up balance sheet, and a stronger earnings outlook. The new target implies a 30% upside. Nomura also noted the banks efforts to resolve legacy issues and improve transparency.
Indian market is expected to consolidate, mirroring mixed global signals, after Nifty50 closed lower. Technical analysis suggests a sideways trend with key resistance at 25,000-25,170 and support at 24,700. Experts recommend buying Chambal Fertilisers, Asahi India, Indus Towers, PB Fintech, Tata Elxsi, and Supreme Industries for short-term gains.
India's economic resilience shines in early 2025, with robust GDP growth fueling optimism. Anand Rathi Advisors' CEO, Samir Bahl, anticipates a normal monsoon will boost rural demand, benefiting FMCG, auto, and agriculture sectors. The RBI's liquidity measures are expected to spur consumption and private investment.
The Competition Commission of India has approved Delhivery's acquisition of Ecom Express. This deal is worth approximately Rs 1,407 crore. It will significantly consolidate India's logistics sector. The acquisition aims to strengthen Delhivery's position in last-mile delivery. It will also expand warehousing and fulfillment services. Analysts predict a potential upside for Delhivery shares. The average target price is Rs 413.
In the Nifty 500 pack, seven stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on June 17, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend. Take a look:
Tragedy struck Khan Younis as at least 51 Palestinians were killed and over 200 wounded while awaiting aid trucks. Witnesses reported an Israeli airstrike followed by gunfire on the crowd. The Israeli military acknowledged the incident, stating soldiers fired upon a gathering near a stuck aid truck and will investigate the casualties.
Quantum AMC is optimistic about earnings per share growth. Interest rate cuts and corporate cash reserves support private capital expenditure. Tariff uncertainty remains a concern. IT and auto sectors show promise. Cement sector faces seasonality but overall improvement is expected. The firm favors banks, financials, IT, and auto. Insurance also looks attractive.
Oil prices are rising. Asian stocks are mostly down following Wall Street's losses. Middle East tensions are escalating. There is concern about potential US involvement. Donald Trump has commented on Iran. Investors are watching economic data. The Federal Reserve is meeting. Some anticipate a pullback in US equities. Global stocks may outperform US stocks in the next five years.
ArisInfra Solutions, a B2B platform for construction materials, is planning an IPO. The company aims to raise 499.6 crore. The funds will be used to repay debt and for working capital. Revenue has grown, and the company reported profit recently. However, longer collection times and client concentration are concerns. Investors may consider tracking performance post-listing.
With banks reducing savings account interest rates, financial planners are advising investors to consider overnight and liquid funds for parking surplus money. These funds invest in short-term securities, offering potentially higher returns (5-5.5%) compared to savings accounts.
