Stock Markets LIVE: Sensex surges 1,000 pts, tops 73K; Nifty above 22,400, HUL up 9%

11:00 AM

ALERT :: Chandrababu Naidu says, TDP ‘firmly with NDA’

>> Coalition has been formed for the welfare of the people

>> PM Modi, and Home Minister Amit Shah played a part in TDP’s victory in Andhra Pradesh

>> Coalition with NDA will address joblessness in AP

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10:47 AM

Brokerage View: Risk-reward unfavorable for ‘narrative’ stocks, even after correction

In a report on Wednesday, analysts at Kotak Institutional Equities said that they expect a reset in the market’s hitherto cavalier investment stance toward ‘narrative’ stocks.

“We have struggled with the implied growth and profitability assumptions embedded in the market cap. of several ‘narrative’ stocks (capital goods, electric utilities and PSUs). We find the risk-reward unfavorable for these companies, notwithstanding the sharp decline in stock prices on election day. Most of these ‘narrative’ stocks have risen sharply over the past 12-15 months. They offer a large downside to their fundamental fair values and trade at rich-to-bubble valuations,” analysts wrote in the report. 

10:21 AM

This dairy products stock has zoomed 34% in 3 days on TDP’s landslide win

Shares of Heritage Foods hit a record high of Rs 538, as they rallied 18 per cent on the BSE in Wednesday’s intra-day trade on the back of heavy volumes.

In the past three trading sessions, the stock of dairy products company has surged 34 per cent following the news that Chandrababu Naidu was set to become Andhra Pradesh Chief Minister for fourth term after Telugu Desam Party’s (TDP’s) landslide victory. In the past one month, the stock has zoomed 63 per cent. Read more

10:08 AM

BEML, Exide, Prestige: 5 mid-, small-cap stocks with over 15% downside risk

On Tuesday, June 04, as the key benchmark indices tumbled around 6 per cent, the broader indices – the Nifty MidCap and SmallCap – took a sharper knock and were down up to 8 per cent amid the surprise election outcome sell-off.

Amid the sell-off several mid- and small-cap stocks tanked around 20 per cent, and select stocks have indicated a weaker bias going ahead. Read more

Stocks, shares, stock maket

9:45 AM

Rupee to rely on RBI’s help amid foreign outflows post PM Modi’s narrow win

The Indian rupee will rely on the central bank stepping in to defend the currency on Wednesday, amid likely foreign portfolio outflows following the unexpected outcome of the country’s general election.


Non-deliverable forwards indicate the rupee will open largely unchanged from 83.53 in the previous session. The rupee is not too far from the all-time low of 83.5750 hit in April. Read more

Indian rupee, Indian bonds market

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