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Catch latest from CNBC-TV18's coverage of Russia-Ukraine war
Remain positive on metal stocks: Nischal Maheshwari
Nischal Maheshwari of Centrum Broking remains positive on the metal space. "This time it is not to do with the demand side but supply disruption. This is more about supply constraints which are putting pressure and that is why we continue to see more positive outlook as far as both the metals are concerned: aluminium and steel," he says.
Extremely selective within largecap IT space: Mayuresh Joshi
Mayuresh Joshi of William O'Neil says he would be extremely selective within the largecap IT space now. "Management commentaries have been very encouraging. Also if you look at the expectations that NASSCOM has put through in terms of IT spends, there are vast opportunities that these companies can exploit. Attrition probably remains as one of headwinds but the tailwinds in terms of order continuing across sectors and industries is a boon in terms of being earnings accretive for the sector as a whole. While some stocks might succumb to profit booking, TCS seems relatively better placed,” he says.
Buy SAIL, L&T Tech: Jay Thakkar
Jay Thakkar of Marwadi Shares & Finance shares two stock recommendations:
--Buy SAIL for a target of Rs 102 with a stop loss at Rs 91.5
--Buy L&T Technology Services for a target of Rs 4,800 with a stop loss at Rs 4,350
Market At Close | Sensex, Nifty50 make smart recovery led by Reliance Industries, ICICI Bank, Infosys
Here are some highlights:
--Nifty Bank relatively underperforms despite a recovery of 593 pts from day’s low
--Nifty Bank down 225 pts at 36,205
--Midcap index rises 270 pts to 28,223
--Commodity stocks outperform with Nifty Metal up 5 percent
--Hindalco, Tata Steel, JSW Steel among top Nifty gainers
--GAIL top midcap gainer, surges 7 percent after brokerage upgrade
--Biocon slips 11% following Viatris biosimilar asset acquisition
--Rain Industries in the red but off day’s slow after mixed earnings
--JSPL, Petronet, BEL, HAL, Vedanta, Sail top midcap gainers
--Market breadth improves to favour bulls, advance-decline ratio at 2:1
Closing Bell | Sensex up 389 points, Nifty at 16,794
The Sensex finishes the session up 388.8 points or 0.7 percent at 56,247.3, rebounding 1,413.8 points from the weakest level of the day.
The Nifty50 settles at 16,793.9, up 135.5 points or 0.8 percent from its previous close, making a comeback after sliding below the 16,400 mark during the session. (Read more on the February 28 session)
Ducon Infratechnologies announces bonus issue
Ducon Infratechnologies shares up 4.91 percent after the company announced a bonus issue of 1 share for every 10 shares. The board has also approved an increase of authorised capital from Rs 25 crore to Rs 30 crore to meet the increasing growth capital needs of the company, as per the press release.
Russia-Ukraine war impact: Sanctions on Putin won't impact India's trade, say experts
The US announced sanctions on some individuals, and on some Russian banks, while the EU has said that it will disconnect an unnamed list of Russian banks from the SWIFT payment system. Also, both the US and the EU have said that they will prevent Russia from accessing its reserves.
To understand how this could impact India, CNBC-TV18 spoke to Venkat Nageswar Chalasani, Former Deputy Managing Director and GE, IBG, State Bank of India, and Prof Rakesh Mohan Joshi, Dean, Indian Institute of Foreign Trade.
Zen Technologies secures export order worth Rs 13.50 crore
Zen Technologies Limited has been awarded an export contract for the supply of training equipment worth Rs 13.50 crore. As of date, the company's total order book stands at Rs 428.56 crore.
Endurance Technologies falls 6%; stock nears 52-week low on weak Q3 results
Endurance Tech traded close to its 52-week low price of Rs 1,250. The stock fell 20 percent in the past one month after the company reported a weak set of December quarter (Q3FY22) numbers.
European markets sink in opening deals on Monday
Europe's major stock markets sank in opening deals on Monday after world powers imposed fresh sanctions on Russia over its invasion of Ukraine. In initial deals, London stocks lost about 1.0 percent, while Frankfurt and Paris each shed 2.0 percent in value.
BSE Oil & Gas index rose 1 percent led by the GAIL, Petronet LNG, BPCL
Nifty Metal surges; Hindalco surges 8%
Nifty Bank stock | Change (%) |
HINDALCO | 8.1 |
JINDALSTEL | 5.7 |
TATASTEEL | 5.7 |
SAIL | 4.6 |
JSWSTEEL | 4.4 |
VEDL | 3.7 |
HINDCOPPER | 3.1 |
NATIONALUM | 2.9 |
COALINDIA | 2.3 |
RATNAMANI | 2.0 |
NMDC | 1.5 |
APLAPOLLO | 1.1 |
ADANIENT | 0.7 |
HINDZINC | 0.6 |
WELCORP | -1.1 |
Currency | Price | Change | %Change |
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