Broad modifications to India's conquest regulations, projected to fetch domestic markets on parity with worldwide best performances are nearing the corner. A committee allotted by the Securities and Exchange Board of India projected to augment the porch for conquest to 25% from the recent 15%, apart from increasing the size of the ensuing obligatory open offer to permit every investor to join.
According to the Union Finance Minister Pranab Mukherjee on Monday expressed that an 8.5 per cent GDP development for the recent fiscal would portend good for the nation in the current financial year.
Indian market continued trading in a small range. After a weak start Indices traded flat most of the time in the session. SENSEX closed at 17928, down 27 points and Nifty at 5386, down 7 points from the previous close. CNX MIDCAP index was up 0.3% and BSE SMALLCAP index was up 0.1%. The market breadth was negative with advances at 630 against declines of 658 on the NSE. Banking and METALS traded strong while FMCG appeared weak. NTPC, RCOM, HINDALCO, LT, HDFC and IDEA were top gainers while ITC, STER, DLF, MARUTI, HEROHONDA, ABB, and SIEMENS were top losers.
Natural gas ended down as tepid demand and copious supplies pressured the market 
Jeera August contract gained Rs 130 and settled at Rs 14526 a kg on local demand, some overseas inquires and poor stocks. Fundamentals are supportive. Stocks are limited while demand is improving. At Unjha, spot market in Gujarat, jeera gained 146 rupees to end at 13,921 rupees per 100 kg. The contract made intraday low of Rs 14325 a kg and high of Rs 14620 a kg. Support for jeera is at 14361 below that could see a test of 14195. Resistance is now seen at 14656 above that could see a resistance of 14785.
Turmeric yesterday we have seen that market has moved -0.5% on profit-booking after prices rose in the last two sessions on hopes of higher sowing. Sowing is good in our area. Area under the spice may rise significantly this year. In Nizamabad spot market, turmeric gained 286 rupees to end at 15,518 rupees per 100 kg. Market has opened at 14848 & made a low of 14660 versus the day high of 14848. The total volume for the day was at 5765 lots and the open interest was at 7985.Support for turmeric is at 14624 below that could see a test of 14548. Resistance is now seen at 14812 above that could see a resistance of 14924.ICICI Securities has maintained its BUY call on IDFC First Bank with a revised 12-month target price of Rs 95, down from Rs 100, implying about 32% upside from the current market price of Rs 72.
News in Focus
Deven Choksey Research has maintained its BUY rating on HDFC Bank with a target price of Rs 981, implying about 43% upside from Rs 688.
Anand Rathi Research has maintained its BUY call on DCB Bank with a 12-month target price of Rs 312, implying about 56% upside from the Rs 200 share price.
Featured, India Business, Analyst View, Stock Markets, Godrej Properties, India, Motilal Oswal, Real Estate
Motilal Oswal Financial Services has reiterated its BUY call on Godrej Properties with a target price of Rs 2,200, implying about 47% upside from the current market price of Rs 1,498.
Featured, India Business, Analyst View, Stock Markets, Hotels Sector, ICICI Direct, India, ITC Hotels
ICICI Securities has maintained its BUY call on ITC Hotels with an unchanged 12-month target price of Rs 220, implying about 29% upside from the current market price of Rs 170.
Featured, India Business, Analyst View, Emkay Global, India, Insurance Sector, Nippon Life, Personal Finance
Emkay Global Financial Services has reiterated its BUY call on Nippon Life India Asset Management with an unchanged September 2027 target of Rs 1,300, about 33% above the current price of Rs 976.
Main Regional Stories
Emkay Global Financial Services has reiterated its BUY rating on IndusInd Bank, trimming its 12-month target price by 12.5% to Rs 1,050 from Rs 1,200, which implies about 25.7% upside from the current market price of Rs 835.
Advanced Micro Devices declined nearly 12 percent during the trading session as Intel declined 30 percent. AMD was down during premarket but the stock slipped further during the trading session.
Intel shares fell as much as 30% in early trading Friday, wiping out more than $125 billion in market value and putting the chipmaker on course for its worst session since 1974.
Featured, India Business, Analyst View, Stock Markets, Finance Sector, India, Motilal Oswal, Shriram Transport Finance
Motilal Oswal Financial Services has reiterated its BUY call on Shriram Finance with a target price of Rs 1,155, about 33% above the Rs 867 share price. The September quarter was mixed.
