Stock Cash Market Update By MarketMagnify

ICICI Bank, ITC, Adani Ports, Bharti Airtel and Tata Steel are top gainers while ONGC, Bajaj Auto and Wipro are losers in the Sensex. For more update visit www.marketmagnify.com/stock-future-tips.php

     The Indian rupee opened lower by 6 paise at 67.33 per dollar against previous close 67.27.

  HSBC has raised its rating on India to ‘overweight’ from the earlier ‘neutral’ and upped its Sensex target to 28,500 from 26,000 for this year-end. Domestic market is picking up in India and earnings expectations of 12 percent are more realistic, says Herald Van Der Linde of HSBC.

     Motilal Oswal has upgraded M&M to buy from neutral with a target of Rs 1724 per share, indicating an 18 percent upside. Betting big on strong earnings cycle ahead the brokerage firm is confident that monsoon and recent launches will drive its growth.

    The boards of Jaiprakash Associates and UltraTech Cement on Monday agreed on the long due agreement regarding the sale of JP's cement business to the latter. The total deal size of Rs 16,189 crore, agreed upon now is slightly more that Rs 15,900 crore pegged in the March agreement.

    Auto major Mahindra & Mahindra today reported an 8 percent rise in total sales to 39,011 units in June. The company had sold 36,134 units in the same month last year.

    Adani Ports may see a good breakout after a consolidation and can climb to around Rs 226. Keep stop loss of Rs 207.
     Sun Pharma is in a pause mode before a climb to around Rs 790. Keep a stop loss at Rs 760.