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Economic Times

41 minutes ago

• Economic Times

Stock market update: Nifty Bank index falls 0.54% in a weak market

NEW DELHI: The Nifty Bank index traded negative around 10:58AM(IST)on Monday in a weak market. ADVERTISEMENT IDFC First Bank Ltd.(up 0.93 per cent), Au Small Finance Bank Ltd.(up 0.71 per cent) and Punjab National Bank(up 0.17 per cent) were among the top gainers. Axis Bank Ltd.(down 0.85 per cent), ICICI Bank Ltd.(down 0.76 per cent), HDFC Bank Ltd.(down 0.73 per cent), IndusInd Bank Ltd.(down 0.7 per cent) and State Bank of India(down 0.7 per cent) were the top losers on the index. The Nifty Bank index was down 0.54 per cent at 55949.05 at the time of writing this report. Benchmark NSE Nifty50 index was down 196.81 points at 24915.6, while the BSE Sensex was down 668.33 points at 81739.84. Among the 50 stocks in the Nifty index, 9 were trading in the green, while 41 were in the red. ADVERTISEMENT Shares of Vodafone Idea, Ola Electric Mobilit, RattanIndia Power, Zee Ent. and YES Bank were among the most traded shares on the NSE. Shares of Madhya Bharat Agro, SRM Contractors, Apollo Micro Systems, Quality Power Electr and Reliance Naval & Engg hit their fresh 52-week highs in today's trade, while Osia Hyper Retail, Omkar Speciality, Lasa Supergenerics, Navkar Builders and Sadhana Nitro hit fresh 52-week lows in trade. (You can now subscribe to our ETMarkets WhatsApp channel)

Mint

42 minutes ago

• Mint

Israel-Iran war: DMart to Eicher Motors— Jigar Patel of Anand Rathi recommends 3 stocks to buy for the short term

Stocks to buy for the short term: Indian stock market benchmarks, the Sensex and the Nifty 50, crashed over a per cent each in intraday trade on Monday, June 23, as Israel-Iran war escalates further, crude oil prices rise sharply and investors dump riskier equities and rush to safe haven assets. As it is difficult to predict the trajectory of the stock market amid rapidly changing geopolitical scenarios, Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, advises traders to remain vigilant. "A decisive breakout above 25,300 could pave the way for a sustained rally toward 25,500–25,600. Conversely, any faltering near current levels could signal renewed caution. On the downside, immediate support lies at 24,700, with a stronger floor near 24,450. Until confirmation is evident, restraint remains prudent near resistance zones," said Patel. Jigar Patel recommends buying shares of DMart, Eicher Motors and Biocon for the next two to three weeks. Over the past month, Eicher Motors has witnessed a healthy correction of approximately 12 per cent from its recent peak of ₹ 5,906. Notably, the stock has established a firm base over the last 15 trading sessions, consolidating between its 50- and 100-day exponential moving averages — a sign of stabilizing price action. In the latest session, Eicher decisively broke out of a dual descending trendline, supported by a steadily improving Relative Strength Index (RSI), which has consistently held above the 40 mark and now stands at 61.42. "The confluence of favourable technical indicators positions Eicher as an attractive long candidate. Traders may consider initiating positions in the ₹ 5,530–5,480 range, targeting ₹ 5,900, with a stop loss placed below ₹ 5,300," said Patel. Eicher Motors Following a steep decline from its recent high of ₹ 4,557, DMart has entered a consolidation phase, forming a strong base around the confluence of its 50-, 100-, and 200-day exponential moving averages (DEMA). Notably, the stock has triggered a bullish golden crossover, with the 50-DEMA moving above the 200-DEMA — a technically significant development often interpreted as a precursor to upward momentum. Adding weight to the bullish bias, the stock has also broken out of a descending trendline, indicating a potential trend reversal. "Given this confluence of positive technical signals, traders may consider initiating long positions in the ₹ 4,300–4,250 zone, with an upside potential toward ₹ 4,700. A stop loss should be maintained below ₹ 4,100 on a daily closing basis," Patel said. DMart Biocon has recently established a robust base around the confluence of its 50-, 100-, and 200-day exponential moving averages (DEMA), signalling price stability after a period of consolidation. A golden crossover — with the 50-DEMA crossing above the 200-DEMA — further reinforces the emerging bullish sentiment. On June 19, 2025, the stock also formed a bullish harami candlestick pattern, accompanied by a close above the R3 Camarilla monthly pivot, strengthening the technical outlook. This alignment of key indicators suggests a potential upside move. "Traders may consider initiating long positions in the ₹ 353–348 range, with a projected target of ₹ 385. A protective stop loss should be placed below ₹ 332 on a daily closing basis to manage risk effectively," said Patel. Biocon Read all market-related news here Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.

Time of India

44 minutes ago

• Time of India

Ola Electric shares slide 6% to all-time low after fresh block deal

Shares of Ola Electric Mobility dropped 6% on Monday to an all-time low of Rs 43.20 on the BSE, after 0.8% of the company's equity changed hands in block deals. The identities of the buyers and sellers were not immediately known. Earlier this month, a block deal worth Rs 731 crore saw 14.22 crore shares—representing 3.23% equity—change hands at an average price of Rs 51.40. Hyundai Motor Company was the reported seller in that transaction. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Buy Brass Idols - Handmade Brass Statues for Home & Gifting Luxeartisanship Buy Now Undo Also Read: Why stock market is falling today? Key factors behind 900-point Sensex crash, Nifty below 24,850 Weak Q4 performance The stock's recent decline follows a weak March quarter earnings report. Ola Electric posted a net loss of Rs 870 crore in Q4 FY25, more than doubling from Rs 416 crore in the same quarter last year. Revenue from operations slumped 62% YoY to Rs 611 crore as vehicle deliveries fell to 51,375 units from 1.15 lakh a year ago. Live Events Also Read: Is the grey market premium misleading? Decoding the valuation gap in HDB Financial's IPO Auto EBITDA margin plunged to -78.6% from -9.3% in Q4 FY24, while consolidated EBITDA margin dropped to -101.4%, impacted by high provisioning and weak operating leverage. However, gross margin improved slightly to 19.2%, supported by better monetisation and a higher share of Gen-3 platform vehicles, which offer 20% more power and range at 11% lower cost than Gen-2 models. For FY25, the company delivered 3.59 lakh vehicles, up from 3.29 lakh in FY24. Full-year adjusted revenue stood at Rs 4,665 crore, with a consolidated EBITDA margin of -34.6%. Also Read: 11 Nifty mid & smallcap stocks that can rally 40-90% over the next 12 months Stock performance and price target Ola Electric's shares have fallen over 43% from their IPO price of Rs 76. The company debuted on August 9, 2024, listing at Rs 91.20 per share. The stock is now down 49% year-to-date and has fallen 72% from its 52-week high of Rs 157.50. According to Trendlyne, the average analyst target for Ola Electric is Rs 59, implying a potential upside of nearly 35%. Among the seven analysts tracking the stock, the consensus rating is 'Hold'. Ola Electric, known for its electric scooters, has faced criticism over customer service and repair issues, which have also attracted regulatory scrutiny. Despite ongoing expansion plans in the EV ecosystem, these challenges continue to weigh on investor sentiment. The company's current market capitalisation stands at Rs 19,407 crore. Also Read: $2.4 trillion worth of gold! India's household hoard is 6x Pakistan's economy ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)