Buzzing Stocks: Zomato, RIL, Shree Cements and other stocks in news today
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Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments
Nifty is at 16,300 once again. What needs to be seen is if we can close above this level. If we can manage that, the index should move higher to 16,500-16,600. Traders should focus on buying rather than selling as the market trend is positive and there is a good support at 16,050-16,100. A buy on dips approach would be appropriate.
Timken India shares jump 8% after Q1 result: Shares of Timken India jumped almost 8 percent in early trade eon BSE a day after the company reported its June quarter results. The company's standalone PAT stood at Rs 56.7 crore during the quarter while net sales from operations stood at Rs 467.85 crore. Profit in the same quarter last year was Rs 3.15 crore while revenue was Rs 160.23 crore. EBITDA stood at Rs 93 crore against Rs 14 crore.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
During the last several trading sessions, the outperformance of largecaps was led by the high-quality private sector financials.
The underperformance of the mid and smallcaps is a desirable healthy trend since it is removing the froth in the segment.
An area of concern in the market now is the frenzy in the IPO market where retail investors are applying for IPOs & OFSs without any consideration of fundamentals & future prospects.
The goal is just to make money on the listing. Many retail investors are likely to lose money in the future from some of these issues.
Opening updates: The Indian market opened in the green even as most Asian peers traded in the red. Among the sector, pharma, bank, realty, consumer durables and capital goods rose about half a percent in early trade.
Sensex gainers & losers
Gaurav Udani, CEO & Founder, ThincRedBlu Securities
Nifty is expected to open slightly negative, down by 10 points since yesterday's close. Yesterday, Nifty took support at 16,180 level. 16,150-16,200 will act as a strong support range and as long as Nifty is holding above it, we can expect 16,350 and 16,400 in the coming sessions. The trend in Nifty will remain bullish as long as it holds 15,900 level.
SGX Nifty's performance in the last one month
Chemplast Sanmar mobilises Rs 1,732.5 crore from anchor investors ahead of IPO
Specialty chemicals manufacturer Chemplast Sanmar on August 9 garnered Rs 1,732.5 crore from anchor investors ahead of its IPO opening.
The company in consultation with book running lead managers and selling shareholders has finalised allocation of 3,20,24,029 equity shares to anchor investors at Rs 541 per share, it said in its BSE filing.
Aptus Value Housing Finance garners Rs 834 crore from anchor investors ahead of IPO
Aptus Value Housing Finance on August 9 said it has raised Rs 834 crore from anchor investors ahead of its initial share sale, which opens for public subscription on August 10.
The company has decided to allocate 2,36,26,500 equity shares at Rs 353 apiece aggregating the transaction size to Rs 834 crore, according to a circular uploaded on the BSE website.
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 211.91 crore, while domestic institutional investors (DIIs) net offloaded shares worth Rs 716.15 crore in the Indian equity market on August 9, as per provisional data available on the NSE.
Market LIVE Updates: Sensex, Nifty trade higher; HDFC, Kotak Bank among top gainers - Moneycontrol.com
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