Latest Market News Today Live Updates June 24, 2024: Chandan Taparia’s recommendations: How

• Chandan Taparia, Head – Equity Derivatives and Technicals, Broking and Distribution, MOFSL, recommends to buy Cummins, Astral, and Polycab shares on June 25.

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• Nvidia stock continued its decline for the third straight session on Monday

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• Raghuram Rajan clarifies that he does not give investment advice to the public

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• The cryptocurrency maintains a market cap of around $1.2 trillion. Despite the prevailing downturn, Bitcoin’s open interest has experienced a slight uptick of 0.59 per cent, reaching a current valuation of $19.1 billion.

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• ICICI Securities anticipates rebound in chemical sector with stabilised prices. Destocking issues will ease in FY25 for Indian chemical companies, it expects. Volume growth is expected in agrochemicals.

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• Shivalic Power Control IPO day1: The Initial Public offer opened for subscription by investors today. i.e 24 June, 2024 and will remain open till 26 June’2024. The issue received a good response being subscribe 8.42 times on day1 by 5:00 PM. Check for GMP, key dates and all you need to know

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• Vacancy levels dropped 20 basis points to 14.5% in FY24, mainly due to demand from global capability centers.
• Leasing of office assets is poised to get a leg up in FY25, with GCCs likely to remain centerstage in driving demand.

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• Multibagger stock: Infibeam Avenues share price sees a 100% surge in a year, with an 18% potential increase from its current price predicted by KRChoksey Shares. The firm plans international expansion in Saudi Arabia, UAE, and the US, along with enhancing financial products for merchants in India.

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• Early participation in themes like electric vehicles is key for thematic investing success. Nifty EV & New Age Automotive Index in India offers a dynamic representation of this evolving segment.

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• Investors allege former FTX customers abruptly reneged on selling claims to their accounts and are suffering from an age-old affliction: seller’s remorse.

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• Brokerage firm Choice Broking had earlier assigned ‘buy’ rating to the IREDA stock, with a target price of ₹203 per share.

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• Top Gainers and Losers Today : The Sensex gained 131.18 points, or 0.17, to settle at 77209.9, while the Nifty gained 36.75 points, or 0.16, to close at 23501.1.

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• The negative reaction of the Ujjivan stock has widened its valuation gap with Equitas SFB, its closest peer in terms of both the balance sheet size and market capitalization.

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• Stock market today: Nifty 50, Sensex eke out gains; M&M, ICICI Bank, HDFC Bank among top index movers

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• PSU stocks have surged sharply, driven by increased capex and government initiatives. BJP’s election win further boosted the rally. Defence, power, and railways sectors are standout performers. Analysts are optimistic about the future growth prospects despite the significant rally in these stocks.

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• Stanley Lifestyles IPO includes funding of ₹161.10 crore, subscription status of 4.18 times on the second day, and plans to open new stores and invest in equipment.

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• Goldman Sachs highlights TBO’s strong Free Cash Flow (FCF) generation and clean balance sheet. The brokerage forecasts an average annual margin expansion of 170 bps until FY30. It sees TBO as a steady earnings compounder and forecasts a 30% to 33% CAGR in EBITDA and net income from FY24 to FY30.

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• Sylvan Plyboard IPO price has been set at ₹55 per share. The fixed price issue worth ₹28.05 crore is entirely a fresh issue of 51 lakh equity shares.

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• India’s debt has become a hot play among emerging markets, with investors attracted to its solid finances and stable currency

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• Stock Market Today: Siemens, GE T&D, Hitachi Energy share price have given Multibagger returns while L&T, ABB others have seen good gains. FPI interest remains strong on capital Goods sector, having made net equity investments of $723 million in May, despite being overall net sellers of equities.

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• Experts anticipate some knee-jerk reaction, triggering outflow from the fund. However, it may not be sustained, and they say there are no major risks to investors’ wealth.

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• Ashish Kacholia portfolio: KR Choksey has given a buy tag tag to the chemical stock with target price of ₹573 per share in the long term

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• The highest FPI outflows was witnessed in the Oil, Gas & Consumable Fuels sector worth ₹3,683 crore during June 1-15. The sector saw FPI selling to the tune of ₹5,554 crore in May.

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• Falcon Technoprojects IPO share allotment finalised today. Investors can check status on Kfin Technologies Ltd portal. IPO opened on June 19, closed on June 21 with 65.32 times subscription.

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• Ujjivan Small Finance Bank’s shares dropped 7.5% to ₹44.70 on reduced loan growth guidance to 20% and increased credit cost guidance to 1.7%. The bank slowed disbursements in hotspot states due to rising stress, aiming to shift focus to collections and individual loans for better profitability.

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• Mason Infratech IPO GMP: Shares of the company are trading at par in the grey market today, say market observers

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• Both companies are poised to capitalise on the growing demand for tourism. But which one is a better investment?

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• Technical views on F&O market by Rupak De, Senior Technical Analyst, LKP Securities. De suggests buying Rail Vikas Nigam Ltd (RVNL), Granules India Ltd, and Suzlon Energy Ltd.

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• The one-year share lock-in period for Jupiter Life Line Hospitals ends on September 13 and 11 million equity shares of the company, or 16% of the total outstanding shares, will be released.

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• Stocks to buy: For this week, Axis Securities expects Nifty 50 to trade between 24,000 and 23,000 with a mixed bias. Experts suggest betting on fundamentally and technically sound stocks at the current juncture.

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• Following shares hit their 52 week low today – Future Supply Chain Solutions, CMI, Bafnapharm, Kanani Industries, Secur Credentials

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• Following shares hit their 52 week high today – Zuari Industries, Seamec, Asahi India Glass, JSW Energy, ICICI Bank

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• Stanley Lifestyles IPO GMP: Shares of the company are available at a premium of ₹172 in the grey market today, say market observers

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• JSW Energy strengthens energy solutions with a 300 MW project, aiming for 9.8 GW capacity by CY24. Company ventures into green hydrogen and targets carbon neutrality by 2050.

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• Gold And Silver Prices Today:Gold And Silver Prices Today : 10 gm of 24 carat gold was at Rs.74492.0 in Delhi whereas 1 kg of silver was Rs.90850.0 in Delhi.

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• United Cotfab share price opened at ₹75, which is 7.14% higher than the issue price of ₹70.

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• GP Eco Solutions IPO listing was better than market expectations. GP Eco Solutions IPO GMP today, or grey market premium today, ahead of the listing was ₹181 per share, indicating a listing premium of 193%.

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• Stock Market Today: Multibagger Garden Reach Shipbuilder share price gained more than 7% in morning trade on Monday as it announced receiving a $54 million order for supply of commercial Vessels.

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• Nifty 50, Sensex open weak dragged by bank, metal stocks

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• Dee Development Engineers IPO allotment date is most likely today

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• Akme Fintrade IPO allotment date is today. Investors can check the allotment status on Bigshare Services Pvt Ltd portal. Subscription status was 55.12 times. Listing date is June 26 on BSE and NSE.

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• With elections behind us, we expect the second half of 2024 to be a very busy period. There are already more than 55 DRHP filed with Sebi looking to raise about ₹70,000 crore.
• We anticipate healthcare, financials, energy and industrial sectors to witness significant M&A activity.

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• The stock’s expensive valuation multiple could act as a deterrent to fetch meaningfully higher returns from hereon, especially if earnings growth fails to meet the Street’s elevated expectations.

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• Retail and high net worth investors (HNIs) have shifted their stance to bearish while foreign investors have turned bullish. Whenever such flips have happened in the past, markets have tended to pull back or dip.

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• Stocks to buy today: Experts have recommended buying these five buy or sell stocks — Zensar Technologies, Whirlpool, IndiGo, Indus Tower, and PVR INOX

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• The revised eligibilty criteria could see the stock derivatives count rising to around 190 from 182 currently

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• The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 23,385 level, a discount of nearly 100 points from the Nifty futures’ previous close.

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• Indian stock market: Gift Nifty was trading around 23,395 level, a discount of nearly 80 points from…