Share Market Today LIVE: Nifty near 21,700, Sensex jumps over 1,050 pts amid broad-based buying
Share Market Today LIVE: Domestic equity benchmarks Nifty 50 and Sensex on Monday, January 29, rebounded in early trade on Monday in-tandem with a rally in Asian markets along with buying in blue chip firms HDFC Bank and others.
Catch minute-by-minute updates of all the action in the Indian share market today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog
Share Market Today LIVE: Domestic equity benchmarks Nifty 50 and Sensex on Monday, January 29, rebounded in early trade on Monday in-tandem with a rally in Asian markets along with buying in blue chip firms HDFC Bank and others.
Catch minute-by-minute updates of all the action in the Indian share market today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog
Latest Updates
Share Market Today LIVE | PNB shares notch new 52-week high as Street cheers increase in profit guidance for FY24
Punjab National Bank (PNB) shares gain nearly 5 per cent to notch a fresh 52-week high of Rs 109.48 on BSE after Q3 net profit at the state-run lender jumped more than three-fold to Rs 2,223 crore as against Rs 629 crore reported in the same quarter last year.
During the period under review, the total income at the lender also increased to Rs 29,962 crore. The figure stood at Rs 25,722 crore in the same period last year. Interest income at the lender also surged to Rs 27,289 crore as compared to Rs 22,384 crore registered in the third quarter of the previous fiscal.
Additionally, asset quality at the lender improved, with gross non-performing assets (NPAs) declining to 6.24 per cent of the gross loans at the end of December 2023 from 9.76 per cent a year ago. Read more
Share Market Today LIVE | Shriram Finance soars to new 52-week high as most brokerages remain optimistic after strong Q3 show
Shares of Shriram Finance rally over 6 per cent to hit a fresh 52-week high of Rs 2,448.85 apiece on BSE after posting strong financial results for the December-ended quarter (Q3 FY24).
For the quarter under review, consolidated net profit at the company inched higher by 3.99 per cent year-on-year (YoY) to Rs 1,873.59 crore versus Rs 1,801.66 crore recorded in the same period of the previous year. Besides, net interest income (NII) rose by 16.93 per cent and came in at Rs 5,274.91 crore as against Rs. 4,511.35 crore logged in the same period of the previous year.
Consolidated earnings per share (basic) increased by 2.96 per cent and stood at Rs. 49.70 as compared to Rs. 48.27 recorded in the same period of the previous year. Read more
Share Market Today LIVE | Tata Technologies shares listless after Q3 results
Tata Technologies shares trade on a muted note after the subsidiary of the Tata Group reported a 6.1 per cent increase in its consolidated net profit, or profit after tax (PAT), at Rs 170.22 crore for the quarter ended December 31, 2023. The stock trades 0.07 per cent higher at Rs 1,145.05 on BSE.
The company, which is a global product engineering and digital services company, reported a profit of Rs 160.38 crore in the year-ago period. On a year-on-year (YoY) basis, the profit grew 14.7 per cent. Read more
Share Market Today LIVE | Azad Engineering signs long-term contract with Rolls Royce; stock hits all-time high
Shares of Azad Engineering hit an all-time high on the BSE at Rs 745.55 after the company signed a long-term contract with British luxury car manufacturer Rolls Royce. The contract is to produce and supply critical engine parts for their Defence/Military Aircraft engines.
"It is informed that Rolls-Royce signs long-term contract of seven years with Azad Engineering Limited to produce/Supply critical engine parts for their Defence / Military Aircraft engines," the filing read. Read more
Share Market Today LIVE | SBI Card slides after firm reports weak Q3 numbers; brokerages cut target
SBI Card shares dip nearly six per cent to trade at Rs 715.9 after the firm reported weak third-quarter results.
SBI Card Q3 results
SBI Card reported weak third-quarter results as its net interest income increased by 21.2 per cent to Rs 1387 crore in the December quarter from Rs 1144.60 crore in the same quarter last fiscal. Read more
Share Market Today LIVE | Nifty near 21,700, Sensex jumps over 1,050 pts amid broad-based buying
Stocks to Buy | ICICI Bank, Power Grid, JSW Steel, Tata Power among analysts' top picks
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Himanshu Gupta, Rakesh Bansal, Kunal Saraogi, Mehul Kothari, Dharmesh Kant, Jay Thakkar and Sumeet Bagadia share their top stock recommendations in this special segment, Pick of the Series, as Dalal Street enters the February F&O series.
On the top analysts' 'buy' list are stocks such as Tata Power, Lupin, PowerGrid, ICICI Bank, MCX and JSW Steel. Read more
Share Market Today LIVE | JSW Steel edge higher post-Q3 earnings; Macquarie sets target price at Rs 841
Shares of JSW Steel edge higher after billionaire Sajjan Jindal-led JSW Steel reported a close to five-fold rise in its net profit for the October-December quarter of the current financial year, owing to robust domestic demand. The stock gains by as much as 0.9 per cent, to Rs 823.6 apiece on NSE.
The flagship company of the JSW Group's consolidated net profit surged to Rs 2,415 crore for the third quarter, up from Rs 490 crore logged in the same quarter of the previous fiscal.
The steelmaker's revenue from operations went up 7.2 per cent to Rs 41,940 crore. The company's EBIDTA (earnings before interest, depreciation, tax, and amortisation) shot up by 57.9 per cent to Rs 7,180 crore. Read more
Vedanta shares rise after better-than-expected Q3 results; CLSA downgrades the stock
Vedanta shares edge higher after the billionaire Anil Agarwal-led mining company reported a better-than-expected set of financial results for the quarter ended December 31, 2023. The earnings announcement, post-market hours on Thursday, was followed by a downgrade from foreign brokerage CLSA to ‘sell’ from ‘outperform’. The stock gains by as much as Rs 2.9, or 1.1 per cent, to Rs 266.5 apiece on BSE. Read more
Share Market Today LIVE | Nifty crosses 21,600, Sensex jumps over 800 pts
Share Market Today LIVE | Should you buy Cipla, IGL, HPCL, PNB, other stocks today? Here's what brokerages recommend
Here's what CLSA, Morgan Stanley, Jefferies, Goldman Sachs, HSBC, Citi and Macquarie make of stocks such as JSW Steel, Cipla, Indraprastha Gas Ltd (IGL) and HPCL:
JSW Steel share target price
CLSA has maintained an 'underperform' rating on JSW Steel with a target of Rs 820, while Morgan Stanley has maintained an 'underweight' rating on the stock with a target of Rs 620.
Jefferies has maintained a 'hold' call on JSW Steel with a target of Rs 800.
Citi has maintained a 'sell' call on JSW Steel with a target of Rs 675.
Macquarie has maintained a 'neutral' rating on JSW Steel with a target of Rs 841.
SBI Life share target price
Five brokerages, CLSA, Goldman Sachs, HSBC, Nomura and Jeffeires have recommended buying SBI Life Insurance shares for a target of Rs 1,730, Rs 1,700, Rs 1,720, 1700, and 1,700 respectively.
Morgan Stanley has maintained an 'overweight' rating on SBI Life with a target of Rs 1,770.
Macquarie has maintained a 'neutral' rating on SBI Life with a target of Rs 1,600.
IGL share target price
Citi has maintained a 'buy' rating on Indraprastha Gas Ltd (IGL) with a target of Rs 510.
Jefferies has maintained a 'hold' call on IGL with a target of Rs 430.
Morgan Stanley has maintained an 'equalweight' rating on IGL with a target of Rs 413. Read more
Currency market update | Rupee falls 4 paise to 83.15 against US dollar in early trade
The rupee depreciates 4 paise to 83.15 against the US dollar in the morning session on Monday, amid elevated crude oil prices and dollar demand from importers.
Dividend Stocks | PCBL, Accelya Solutions, Goa Carbon and 360 ONE WAM trade ex-date today
As many as four stocks traded ex-dividend on Monday, January 29, according to the NSE website. The list includes PCBL, Accelya Solutions, Goa Carbon, and 360 ONE WAM.
Goa Carbon dividend record date
Goa Carbon has announced an interim dividend of Rs 10 per equity share with a face value of Rs 10, i.e., a 100 per cent payout. The record date is also January 29.
Goa Carbon dividend payment date
The interim dividend shall be paid on or after February 7.
PCBL 2024 record date
PCBL has announced an interim dividend of Rs 5.5 per equity share with a face value of Re 1, i.e., a 550 per cent payout. The board of the carbon black manufacturer has fixed the record date as January 29. Read more
Share Market Today LIVE | Sensex soars over 400 pts, Nifty above 21,450
Nifty 50
Source: NSE
Sensex
Source: BSE
Anil Singhvi Market Strategy | Important levels to track in Nifty50, Nifty Bank today
Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 21,250-21,350 levels and a strong buy zone at 21,075-21,150 levels on Monday, January 29. For the Nifty Bank, he expects support to come in at 44,425-44,500 and a strong buy zone at 44,000-44,150 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends