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.

Indian Stock Market News

Sun Pharma, Lupin, SBI, Axis Bank and Adani Ports are up while L&T, Bajaj Auto, ICICI Bank, Dr Reddy's Labs and HDFC Bank are losers in the Sensex. For more information visit www.marketmagnify.com/stock-cash-tips.php 

 Neyveli Lignite has long-term borrowings of Rs 7000 crore. Financing for the power station will come from cash reserves, says SK Acharya, chairman of Neyveli Lignite. 

Citigroup Global Markets Mauritius Private Limited sold 2,688,898 shares of Castrol India at Rs 375.70 per share on the NSE.

Analysts polled by CNBC-TV18 estimate that footfall growth may go higher by 23.5 percent at 15.05 million compared to 12.2 million (YoY). Footfall growth is likely to be aided by new screens. The company has added 25 Screens this quarter. 

Way2Wealth has come out with its report on currencies. According to the research firm, one can Sell USDINR below 67.10 for the target of 66.62 with a stop loss of 67.36 .

The US FDA has given an Establishment Inspection Report to Lupin's Mandideep facility which clears the unit of observations made earlier. 

 

According to Angel Broking, Rupee is likely to appreciate owing to positive trend seen in the Asian markets after Brent crude prices crossed $50 a barrel . Moreover, the Indian government has approved to launch capital goods policy to create demand and improve exports. 

Buy RIL, ITC, Motherson Sumi, Century Textiles: Rahul Mohindar. 

Equity benchmarks continued to see buying interest on first day of June series. The Nifty is inching towards 8150 level, up 55.65 points or 0.69 percent at 8125.30.

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Yesterday the company received mining lease from the Queensland Government for the planned Carmichael coal mine, which lies at the heart of the company's investments in Australia.

With the market tanked over 500 points despite the RBI slashing repo rate by 25 basis points, shares of Adani Group firms tumbled on the bourses. Different positive improvements at individual corporate front couldn't deflect the fall in Adani offers.

• Adani Enterprises Ltd ended at Rs. 74.45, down by Rs. 6 or 7.46% from its previous closing of Rs. 80.45 on the BSE. 

• Adani Ports & Special Economic Zone Ltd ended at Rs. 227.35, down by Rs. 15.1 or 6.23% from its previous closing of Rs. 242.45 on the BSE.

• Adani Transmission Ltd ended at Rs. 34.15, down by Rs. 1.75 or 4.87% from its previous closing of Rs. 35.9 on the BSE. 

• Adani Power Ltd ended at Rs. 33.85, down by Rs. 1.3 or 3.7% from its previous closing of Rs. 35.15 on the BSE.