Stock Market Highlights | Market closes near day’s high led by Reliance, HDFC Bank & Kotak Bank

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Sensex Rises 230 Points To 71,337 & Nifty 92 Points To 21,441

Nifty Bank Gains 233 Points To 47,725 & Midcap Index 293 Points To 45,388

Hero Moto & TVS Motor Move Higher After Ola Electric Files For An IPO

Divi’s Lab Surges Nearly 5% To Close The Session Near 52-week High Level

PSUs Extend Gaining Streak, 2 Of Top 5 Nifty Gainers Are PSUs (ONGC, NTPC)

Bajaj Fin & RBL Slide On Rpts Of RBI Giving Only 1-yr Extension To Credit Card Agmt

Infosys Falls Over 1% As A $1.5 Bn MoU With A Global Company, Is Terminated

Adani Green Gains 3% From Lows On Total Fund Raising Of $3 Billion

TV18 & Network18 Surge 5-8% On Reports Walt Disney India Deal

Muthoot Micro & Suraj Estate See Weak Listing, Stocks Fall Up To 9%

Motisons Jewellers Makes A Strong Debut, Lists At A Premium Of Over 85%

Positive Brokerage Note & Continued Order Wins Lift BEL, Stock Up 4%

Chemical Basket Sees Buying, Aarti Ind, Tata Chem, Deepak Nitrite Top Gainers.

Market Breadth Favours Advances, Advance-Decline Ratio At 3:2.

Adani Green approves issuance of 6.31 crore convertible warrants to the promoter at ₹1480.75 per warrant.

Adani Green to issue warrants worth ₹9,350 crore to the promoter on a preference basis.

NTPC shares are in the green for the third day today, up 2%.

The stock has gained nearly 84% this year, so far.

Divi’s Laboratories shares are in the green for the third day today, up 5.3%.

The stock has been in the green for eight out of the last nine trade sessions.

The stock has gained 15.27% this year, so far.

Wipro shares are trading near their 52-week high of Rs 475.8, which they hit earlier today.

The stock is currently up 2.3%. It has been in the green for the last three trade sessions.

It has gained 20.38% this year, so far.

 

Tata Chemicals shares are in the green for the third day today, up 7.5%.

The stock has gained 16.69% this year, so far.

Here are a few stock recommendations by Shrikant Chouhan, Kotak Securities:

– Buy NMDC at a target of Rs 220 with a stop loss of Rs 195
– Buy Bharat Heavy Electricals at a target of Rs 200 with a stop loss of Rs 177

 

 

 

 

 

Here are a couple more stock recommendations by technical analyst Mitessh Thakkar:

– Buy Aarti Industries at a target of Rs 640 with a stop loss of Rs 604
– Buy Bajaj Auto at a target of Rs 6,550 with a stop loss of Rs 6,415

Investors often see companies announcing a buyback of their equity shares, leading to a surge in their prices. Wipro recently announced a buyback of up to ₹10,000 crore. TCS also approved a ₹17,000 crore crore share buyback, which opened on December 1 and closed on December 7.

Read more here

Balaji Amines shares are the top Nifty smallcap gainer, trading 6.57% higher.

The stock has gained 25.12% in the past month, but is down 4.75% this year, so far.

Here are some more stock recommendations by technical analyst Mitessh Thakkar:

– Buy Bayer CropScience at a target of Rs 7,000 with a stop loss of Rs 5,225
– Buy Castrol India at a target of Rs 220 to Rs 250 with a stop loss of Rs 135
– Buy Nalco at a target of Rs 150 to Rs 155 with a stop loss of Rs 104
– Buy Deepak Nitrite at a target of Rs 3,300 with a stop loss of Rs 2,145

Bharat Electronics shares hit their all-time high of ₹184,5 apiece on Tuesday, December 26, after the company announced that it had received orders worth ₹678 crore.

Of these, one order is from the UP government worth ₹445 crore for the the next generation emergency response system — the UP DIAL 112 project. The company will be providing a hardware and AI-based software tools and cyber security solutions for the project, which spans across the entire state, it said in a stock exchange filing.

Read more here

The Reserve Bank of India (RBI) has granted a one-year extension for Bajaj Finance Ltd., and RBL Bank Ltd.’s co-branded cards, less than what they had requested for, sources with knowledge of the matter told CNBC-TV18.

India’s central bank has granted an extension until December 21, 2024, the sources said.

Read more here

Shares of Mazagon Dock Shipbuilders are up another 9% on Tuesday, extending its gains for the third day in a row.

The Indian Navy is commissioning the latest Sealth Guided Missile Destroyer Imphal today. The state-of-the-art warship is built by Mazagon Dock Shipbuilders Ltd.

Read more here

 

Here are a few stock recommendations by technical analyst Mitessh Thakkar:

– Buy Jubilant FoodWorks at a target of Rs 600 with a stop loss of Rs 570
– Buy Cummins India at a target of Rs 2,100 with a stop loss of Rs 1,999
– Buy Deepak Nitrite at a target of Rs 2,470 with a stop loss of Rs 2,340
– Sell IPCA Labs at a target of Rs 1,010 to Rs 1,015 with a stop loss of Rs 1,075

 

The Nifty IT index is the only loser among sectoral indices, down 0.3%.

 

Swan Energy Ltd on Tuesday announced that its subsidiary Triumph Offshore Pvt Ltd (TOPL) has partially pre-paid ₹300 crore of debt for its floating storage and regasification unit (FSRU).

Triumph Offshore Pvt Ltd paid the debt out of its internal accruals to a consortium of senior lenders of the storage and regasification unit (FSRU) project, the company stated in a stock exchange filing.

Read more here