Benchmark indices ended at record closing highs on Wednesday. According to share market analysts, primary market is getting back in action with two mid-sized IPOs opening for subscription next week. In the near term, all eyes would be on the US Fed Chair Jerome Powell’s testimony, BOE meeting outcome, and PM Narendra Modi’s US tour
Markets are rewarding handsomely to those who are maintaining a stock-specific approach while the Nifty is hovering around the record high. “Traders should align their positions accordingly and focus more on stock selection and trade management,” said Ajit Mishra, SVP - Technical Research, Religare Broking Ltd. ZEEL, Wipro, Tata Steel, Tata Elxsi among stocks to watch on Thursday
Sony Pictures Entertainment said it took SEBI's order banning Zee Entertainment founder and chief executive officer from holding board positions "seriously" and will continue to monitor developments that may affect its deal with Zee. This was Sony's first comment post the SEBI ban against Subhash Chandra and Punit Goenka, saying they were actively involved in diverting company funds to the group's related entities
SpiceJet has entered into a settlement agreement with Nordic Aviation Capital (NAC). Nordic Aviation has been a major lessor for the airline's Q400 aircraft. The agreement between the airline and the aviation company settles all past liabilities for the Q400s leased by NAC to SpiceJet
Shares of Tata Steel will trade ex-dividend on Thursday. The Tata Group company had announced a dividend of Rs 3.6 per equity share
Wipro’s Rs 12,000-crore share buyback plan will open on June 22. In April this year, the IT giant’s board had approved a proposal to buy up to 26,96,62,921 equity shares, representing 4.91% of its total number of equity shares from its shareholders. The company will buy back the shares on a proportionate basis by way of tender offer at a price of Rs 445 per equity share
Shares of Tata Elxsi will trade ex-dividend on Thursday. The company had announced a dividend of Rs 60.6 per equity share
Shares of eMudhra, Rainbow Children's Medicare will trade ex-dividend today. The companies had announced a final dividend of Rs 1.25 and Rs 3 per equity share respectively
Reliance Consumer Products, the FMCG arm and wholly owned subsidiary of Reliance Retail Ventures Limited (RRVL) announced the expansion of its indigenous made-for-India consumer packaged goods brand ‘INDEPENDENCE’ to North India. Post its initial launch in Gujarat, ‘INDEPENDENCE’ products are now available to consumers across Punjab, Haryana, Delhi NCR, Uttar Pradesh, Uttarakhand and Bihar
“The underlying trend of Nifty continues to be positive with range-bound movement. A decisive move above 18,900 levels is expected to open the next upside towards 19,100-19,200 levels in the near term. Immediate support is at 18,730 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities
“Bank Nifty index witnessed range-bound price action and closed with gains of 90 points. It witnessed resistance from the zone of 43,900 – 44,000 where resistance in the form of the 20-day moving average (43,974) is placed. Overall, the trend is still sideways, and the range of consolidation is likely to be 44,500 – 43,400,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas
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