Stock Market Highlights | Market builds on to Wednesday’s recovery, Nifty 50 reclaims 22,800

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Midcaps Outperforms With Midcap Index Rising 2% Vs 1% For Sensex & Nifty

Market Breadth Firmly In Favour Of Advances, Advance-Decline Ratio At 7:1

BSE-listed Cos Gain `8 Lk Cr Mkt Cap On Thursday, Total Mktp Cap Now `416 Lk Cr

Sensex Rises 692 Points To 75,075 & Nifty 201 Points To 22,821

Nifty Bank Gains 237 Points To 49,292 & Midcap Index 1,147 Points To 52,414

FMCG Stocks See Profit Booking After 2 Days Of Buying, HUL Falls 2%

IT Stocks Follow Big Gains In Nasdaq, Tech Mah & HCLTech Top Nifty Gainers

Aditya Birla Group Stocks Move Higher, AB Cap Up 6%, AB Fashion Rises 6%

Biocon Is Top Midcap Gainer, Surges 10% On Fresh Buying

PSUs Extend Gains, BHEL, HAL,GAIL, REC, CONCOR Amongst Top Gainers

Sun TV Reverses Tursday’s Gains, Ends With A Cut Of 4%

#JustIn | ITC shareholders approves demerger of hotel business, 99.6% of total shareholders voted in favour of hotel business demerger pic.twitter.com/ZzSJzo8cxT

— CNBC-TV18 (@CNBCTV18Live) June 6, 2024

Here are a couple of stock recommendations by Apurva Sheth, Head-Research at SAMCO Securities:

• Buy V-Mart Retail at a target price of ₹2,700 with a stop loss of ₹2,325
• Buy Dabur at a target price of ₹630 with a stop loss of ₹570

Orchid Pharma shares rallied more than 8% on Thursday, June 6, after the company said it has received approval from the Drugs Controller General of India (DCGI) to market its antibiotic drug combination for treating complicated urinary tract infection (UTI).

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The Board of Zee Entertainment on Wednesday, June 6, approved a fundraising proposal through the issue of equity or any other securities.

The fundraising will be done in one or more tranches through multiple ways including a qualified institution placement, preferential issue, or any other method.

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Shares of consumer discretionary major Titan Company Ltd. were trading almost flat on Thursday, June 6. At 1:40 pm, Rekha Jhunjhunwala’s biggest stock bet was trading 0.18% lower at ₹3,311.70 apiece on the NSE.

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A day after the Department of Telecom (DoT) postponed the spectrum auction by 19 days to June 25, global brokerage CLSA said this auction is largely for the renewal of spectrum for Airtel and Vodafone Idea.

The upcoming spectrum auction will be closely watched as telecom companies focus on strategic renewals rather than aggressive bidding for new spectrum.

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A day after the Department of Telecom (DoT) postponed the spectrum auction by 19 days to June 25, global brokerage CLSA said this auction is largely for the renewal of spectrum for Airtel and Vodafone Idea.

The upcoming spectrum auction will be closely watched as telecom companies focus on strategic renewals rather than aggressive bidding for new spectrum.

Read more here

Integro Technologies, an innovative provider of lending platforms offering its cutting-edge SmartLender Commercial Loan Origination solution to the banking sector, has collaborated with Yoma Bank in Myanmar to revolutionise their SME lending operations, Aurionpro Solutions said in a stock exchange filing.

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At present the existing capacity allows for only two LVM3 launches per year. The new facility will support the production of six LVM3 rockets per year.

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RVNL shares have extended their gains for the second day on Thursday, June 6. The stock has gained over 7% in trade today.

The stock fell over 13% on Tuesday, June 4, as the Lok Sabha Election 2024 results were pointing towards a narrower-than-expected win for the NDA.

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Shares of State Bank of India Ltd., the country’s largest lender, were trading with gains of 5% on Thursday, June 6. SBI is also among the top gainers on the Nifty 50 index today, besides NTPC and Coal India.

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Cefepime & Enmetazobactam is used to treat complicated Urinary Tract Infections

#CNBCTV18Market | #Market slips from intra-day highs, sharp fall seen in select #PSUs#NiftyBank #Nifty50 #NiftyMidcap100 #Sensex pic.twitter.com/WvAH2mWhJg

— CNBC-TV18 (@CNBCTV18Live) June 6, 2024

Here are a couple of stock recommendations by Sacchitanand Uttekar of Tradebulls:

Buy BPCL at a target price of ₹640 with a stop loss of ₹590
Buy Bajaj Finance at a target price of ₹7,230 with a stop loss of ₹6,910

Shares of Century Textile and Industries Ltd. zoomed up to 14% in trade Thursday after the company’s arm Birla Estates entered into a joint venture (JV) with Barmalt India for a ₹5,000 crore luxury housing project in Gurugram.

At 10:35 am, the scrip jumped 12.80% to trade at ₹2,078.10 apiece on the NSE. At the current level, the multibagger scrip has gained about 65% so far this year and is up 160% in the past one year.

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Here are a couple of stock recommendations by Mitessh Thakkar of earningwaves.com:
Buy HUL at a stop loss of ₹2,515 and a target of ₹2,650
Buy HCLTech at a stop loss of ₹1,360 and a target of ₹1,400

Shares of Bhagiradha Chemicals and Industries Ltd. gained as much as 15% in early trading on Thursday after an entity, backed by veteran investor Radhakishan Damani acquired stake through block deals on Wednesday.

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Global brokerage firm CLSA in its latest strategy note said that it sees Modi 3.0 becoming a reality with support from its allies — the Telugu Desam Party (TDP) and Janata Dal (United).

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PSU stocks gain in trade, GAIL, BEL up nearly ^% each

Tata Steel says it may be premature to draw any final conclusions at this time

As many as 33 lakh shares or 0.73% eequity worth Rs 428.1 crore changed hands at Rs 1,297 per share

BHEL wins orders worth over Rs 3,500 crore from Adani Powerto set up the 2X800 MW Thermal Power Project at Raipur in Chhattisgarh. Additionally, the company has also won an order worth over ₹3,500 crore from Mirzapur Thermal Energy (UP) for a 2×800 MW Thermal Power Project at Mirzapur Phase I.

#CNBCTV18Market | Market builds on to Wednesday’s gains. #Sensex opens near 75,100 & #Nifty at 22,800 pic.twitter.com/b1MAyIwIKX

— CNBC-TV18 (@CNBCTV18Live) June 6, 2024