Stock recommendations from HDFC Sec: Buy Alkem Labs, CreditAccess Grameen

GO LONG IN NIFTY WITH 11,900 STOPLOSS; TGT 12,200 On Tuesday, Nifty recovered more than 100 points from the bottom of 11,908 in the second half of the trade. This move has resulted in a bullish “Hammer” candlestick pattern on the daily charts. Nifty has retraced 50 per cent of the entire rally seen from 11,614 (3rd Feb 2020) to 12,246 (14th Feb 2020). Considering the primary bullish trend, we recommend initiating longs in Nifty for the upside target of 12,200, keeping stop loss at 11,900.…

Today’s picks: Hero to Tata Motors, hot stocks to watch on Wednesday

Nifty Current: 11,992 (fut: 12,019) Target: NA Stop long positions at 11,920. Stop short positions at 12,120. Big moves could go till 12,250, 11,750. Trend seems negative. A long Feb 27 11,900p (47), short 11,800p (26) could gain 10-15 if the index drops below 11,900. Bank Nifty Current: 30,562 (fut: 30,625) Target: NA Keep a stop at Rs 793 and go long. Add to the position between Rs 806-809. Book profits…

Farmers irked as prices of pulses fall below MSP ahead of rabi harvesting

With rabi harvesting a few weeks away, prices of pulses in select mandis have slipped to trade below their minimum support price (MSP) — the threshold at which the government procures the kitchen staple. While chana (Bengal gram) in Gadag (Karnataka) is selling at Rs 4,122 a quintal — 11 per cent below its MSP of Rs 4,620 a quintal — prices of moong (green gram) in Nasrullaganj (Madhya Pradesh) slipped to Rs 5,201 a quintal — a staggering 26 per cent below its MSP of Rs 7,050 a…

Shree Cement pips Dabur and Godrej Consumer to replace Yes Bank in Nifty

Shree Cement will replace Yes Bank in the benchmark Nifty 50 index, NSE said in a release. The changes will be effective from March 27. Shree Cement would join Ultratech Cement as cement manufacturers in the bluechip company index. The Kolkata-based cement maker has pipped Dabur and Godrej Consumer Products (GSPL) who were among the front-runners for index inclusion. Among the three companies, Shree Cement has the highest free-float market capitalisation, thanks to a Rs 3,000-crore fund raise in November. The National Stock Exchange has…

Indices fall for fourth day as investors fret over impact of coronavirus

The benchmark indices posted their fourth straight session of losses amid weakness in global markets, as investors fretted over the economic impact of coronavirus. Concerns were exacerbated after Apple warned that the outbreak was a threat to global businesses. Coronavirus has now resulted in the death of 1,800 people, while the total number of confirmed cases has jumped to 72,436. It has crippled economic activity in China. The Sensex fell as much as 445 points before closing at 40,895 — a decline of 161…

Government tweaks guidelines to ensure sugar exports meet the target

Though sugar export has picked up this season, with further scope for growth as Indonesia is expected to soon open the doors for Indian sugar, it is still expected to miss the government target. This prompted the government to issue new guidelines directing the reallocation export quotas from mills that haven’t been able to use them to those that have asked for higher quotas. In a circular issued on Tuesday, the government warned mills that were not able to utilise their…

Market Ahead, February 18: All you need to know before the Opening Bell

Investor concerns about the coronavirus impact on the global economy continues to be the top factor for the markets. Chinese officials said that the number of new coronavirus infections in mainland China fell below 2,000 on Tuesday for the first time since January, although global experts warn it is too early to say the outbreak is being contained. Besides, traders will also focus on stock-specific action, the Rupee’s trajectory in today’s session. Reliance Industries has said it is consolidating its media…

Hathway Cable, TV18 Broadcast surge 20% as RIL to consolidate media biz

Shares of Hathway Cable & Datacom Limited and TV18 Broadcast surged 20 per cent each to Rs 23.10 and Rs 30.10, respectively, on the BSE on Tuesday after Reliance Industries (RIL) announced consolidation of all its media and distribution businesses under one umbrella brand ‘Network18’. Among other stocks, DEN Networks surged 10 per cent to Rs 59.5 and Network18 Media & Investments rose 4.89 per cent to Rs 30.05. On the other hand, Reliance Industries slipped 1 per cent to Rs 1,464. In comparison, the benchmark…

Nifty PSU Bank index nears four-year low; six banks tumble to 5-year low

Shares of public sector banks (PSBs) continued to reel under pressure on Tuesday with the Nifty PSU Bank index nearing its four-year low level. The index hit intra-day low of 2,078.80, its lowest level since March 1, 2016, when it touched 2,053.60 levels in intra-day trade. It dipped below its previous low of 2113.05 levels hit on October 9, 2019. In past three trading days, Nifty PSU Bank index has slipped 7.9 per cent as against 2 per cent fall in the benchmark index. Among stocks,…