Stocks in news and brokerages for select stocks that may affect trading for the day
Mumbai: Staying updated with news related to the market is the key to making smart investment decisions. Trading tips and brokerages for important stocks are also crucial to prepare for the trading day ahead.
Here are news stories that are likely to have an impact on market behaviour during the trading day.
*Asian markets opened lower in trade after global rally stalled and US as well as China toughened their stances in the trade war. Hang Seng ended 1.73 per cent lower after clashes between police and protestors.
*Dollar index picked up steam as it was in a bull trend above 96.74. Bulls want a break above 97.00 and a continuation towards 97.30.
*US markets fell for second straight session as tech stocks came under pressure with global equities showing signs of fatigue. S&P 500 was weighed down by energy, tech and financials as Dow ended 0.2 per cent lower and Nasdaq was down by 0.4 per cent. Treasuries steadied after a weak inflation report from US.
*European stocks closed lower as shares retreated from three-week highs. The pan-European Stoxx 600 was down by 0.3 per cent. ECB and IMF warned about a global trade dispute.
*Oil steadied after a plunge on high inventories as US crude futures went up by 0.18 per cent to $51.23 and Brent added 0.13 per cent to reach $60.05. US crude inventories saw an unexpected increase for the second consecutive week.
Stocks in news and brokerages for select stocks that may affect trading for the day.
Global wholesales and wholesales of all passenger vehicles of the firm for May were down 23 per cent at 82,374 and 50,884 units respectively.
Promoters may sell half their stakes in the firm where the Wadhawan family has 39.21 per cent holding. Kapil Wadhawan is open to share control of the firm and stepping down as MD as PE firms Lone Star, KKR and AION Capital are in final stages of due diligence.
The company will not extend guarantee on Jio debt transfer to InvITs and will issue letter of comfort to lenders. It has set up two InvITs, Digital and Tower Infrastructure; and is in talks with Brookfield to invest in Tower InvIT.
The firm has offered to assume Konkan LNG’s Rs 4000 crore debt at 15-20 per cent discount in return for increasing its stake to 77.33 per cent.
CFM has won a blockbuster jet engine order which includes 600 engines and spares from the company.
Morgan Stanley On Avenue Supermart: Maintained an underweight rating, with target price at Rs 1120/share.
Jefferies On Avenue Supermart: UP, with target price at Rs 1230/share.
HSBC on Avenue Supermart: Maintained a Buy rating, with target price at Rs 1650/share.
UBS on Indusind Bank: Downgraded to sell from Neutral, with target price at Rs 1400/share.
CLSA on Bharti Airtel: Maintained a Buy rating, with target price at Rs 425/share.
CLSA ON OIL: Maintained a Buy rating on ONGC & Oil India with target price for ONGC at RS 170/share and target price for Oil India at Rs 181/share.
Morgan Stanley on Future Retail: Maintained an overweight rating, with target at Rs 660/share.
EMKAY on UBL: Maintained a Buy rating, with target price at Rs 1550/share
Nomura On ACC: Downgraded To Neutral From Buy rating, with target price raised To Rs 1750 From Rs 1700/share.
Nomura On Shree Cement: Downgraded To Neutral From Buy, with target price raised To Rs 21500 From Rs 18000
Nomura On Ambuja Cements: Downgraded To Neutral From Buy, with target price cut to Rs 240 Rs 295
DB On Ceat: Maintained a Hold rating, with target price Rs 1050