Latest news with #AvinashGorakshkar
Mint
2 days ago
- Business
- Mint
Sensex jumps over 800 points, Nifty 50 rises above 25k; why is Indian stock market rising? EXPLAINED
Indian stock market benchmarks, the Sensex and the Nifty 50, clocked solid gains in intraday trade on Friday, June 20, despite escalating Israel-Iran tensions. The Sensex opened at 81,354.85 against its previous close of 81,361.87 and rose over 800 points, or 1 per cent, to an intraday high of 82,186.37. On the other hand, the Nifty 50 opened at 24,787.65 against its previous close of 24,793.25 and rose 1 per cent to an intraday high of 25,040.45. The gains were broad-based as the BSE Midcap and Smallcap indices rose by over half a per cent each during the session. The overall market capitalisation of BSE-listed firms rose to nearly ₹ 446 lakh crore from nearly ₹ 443 lakh crore in the previous session, making investors richer by about ₹ 3 lakh crore in a single session. The Indian stock market is witnessing healthy buying across segments. Here are four factors that seem to be behind the stock market rally: Experts highlighted that a bounce in the Indian stock market is on expected lines as it has been subdued for the last three sessions. As the outlook of the Indian economy remains bright, investors seem to be buying stocks at cheaper valuations. "Investors may be short covering on hopes of a truce between Israel and Iran. However, if the tensions escalate further, the market may again witness a selloff," said SEBI-registered fundamental research analyst Avinash Gorakshkar. Brent crude oil prices crashed over 2 per cent, boosting domestic market sentiment. Oil prices crashed even as tensions between Israel and Iran escalated further. Experts highlighted that crude oil is witnessing profit booking as the US delayed a decision on its involvement in the Israel-Iran conflict. White House Press Secretary Karoline Leavitt on Thursday (June 19) said President Donald Trump will decide on the US role in the Iran-Israel conflict within two weeks. Benchmark Brent Crude prices fell more than 2 per cent to near $77 per barrel. Experts pointed out that if crude prices remain below the $80 a barrel mark, it will not negatively affect the Indian stock market. Foreign portfolio investors (FPIs) have been buying Indian equities for the last three consecutive sessions amid a decline in the dollar index. On June 19, FPIs bought Indian equities worth ₹ 934.62 crore in the cash segment. As the Indian economy's macro outlook remains strong, experts believe foreign investors could be eying fairly valued segments of the stock market after the recent fall. Experts say the domestic market is in a range, and a breakout on either side will decide its direction. According to Shrikant Chouhan, the head of equity research at Kotak Securities, a successful breakout above 24,900 could take the Nifty 50 to 25,000-25,050. "The strategy should be to take a long trade if Nifty crosses 25,000. Keep a stop loss at 24,800 for the same. On the other side, expect further weakness below 24,700; however, in that case, we need to keep a stop loss at 24,900 for the same. However, a close below 24,700 would be negative in the short term," said Chouhan. Read all market-related news here Read more stories by Nishant Kumar
Mint
4 days ago
- Business
- Mint
ICICI Lombard, Go Digit to New India Assurance: Why are general insurance stocks rising? EXPLAINED
Stock Market Today: ICICI Lombard, Go Digit to New India Assurance, the general insurance stocks, gained during the intraday trades on Wednesday despite weak markets. The gains in the general insurance stocks, such as ICICI Lombard General Insurance Company Ltd., Go Digit General Insurance Ltd , The New India Assurance Company Ltd., and others, are fueled by the fact that there are speculation about the Government of India (GoI) approving the Insurance Regulatory and Development Authority of India or IRDAI's proposal to raise term plan insurance premiums. Led by these expectations, the general insurance stocks are rising today. Avinash Gorakshkar, Head of Research at Profitmart Securities, attributed the rise in general insurance stocks to the buzz about the Government of India (GoI) considering approving IRDAI's suggestion for a hike in the term plan insurance premiums by around 18%. This has triggered buying buzz in general insurance stocks, as Dalal Street believes the GoI move would fuel revenue and profit of the general insurance companies by around 4% to 5%, said Gorakshkar. However, it is completely speculative, as the GoI has yet to make any announcement, added Gorakshkar. Those who have a high risk appetite can look at ICICI Lombard shares, as it has the highest market share and business volume, said Gorakshkar. The general insurance industry posted growth of 6.5% year-on-year in May '25, as per JM Financial Institutional Securities data. The segmental data continued to signal positive signs in May 2025—fire grew 17% year-on-year to ₹ 26000 crore, engineering grew 35% to ₹ 520 crore, and health grew 9% year-on-year to ₹ 9100 crore, as per JM Financial. Despite the general insurance sector's modest like-to-like growth of 8.6%, FY26 got off to a robust start in April and May, with YoY growth of 10% plus as per JM Financial. Their preferred insurer at the current market price is ICICI Lombard, which they value at 32 times FY27 estimated earnings per share of ₹ 67 with a target price of INR 2,150 for growth of 13% and 15% in FY26 and FY27, respectively, and an RoE that is continuously over 17%. General insurance stocks, such as ICICI Lombard General Insurance Company Ltd., Go Digit General Insurance, and The New India Assurance Company, among others, gained up to 1.5% during the intraday trades on Wednesday despite weakness in the Indian stock markets. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
5 days ago
- Business
- Mint
Tanla Platforms buyback: Price, date, acceptance ratio, other details. Should you participate?
Tanla Platforms, on June 16, announced that the board has approved a share buyback of 20 lakh shares, which accounts for approximately 1.5 per cent of the company's total equity. The buyback will be conducted at a price of ₹ 875 per share, which is 33 per cent premium over the previous closing price of ₹ 657.15 on the National Stock Exchange (NSE). 'We wish to inform that the Board of Directors of the Company in its meeting held on June 16, 2025, considered and approved the proposal for buyback of up to 20,00,000 fully paid up equity shares of the Company having a face value of INR 1/- (Indian Rupee One Only) ('Equity Shares') representing up to 1.49 % of the total number of Equity Shares in the existing total paid-up Equity Share capital of the Company, at a price of INR 875/- (Indian Rupee Eight Hundred and Seventy Five only) per Equity Share ('Buyback Offer Price'), payable in cash for an aggregate amount not exceeding INR 175,00,00,000/- (Indian Rupee One Hundred and Seventy Five Crore only) (the 'Buyback Offer Size'), being 24.81% and 7.78% of the aggregate paid-up Equity Share capital and free reserves of the Company as per the latest audited standalone and consolidated financial statements of the Company as on March 31, 2025, respectively (the 'Buyback'),' the company said in an exchange filing. The company will circulate the postal ballot notice exclusively through electronic means. Remote e-voting will begin at 9:00 a.m. on Tuesday, June 17, 2025, and conclude at 5:00 p.m. on Wednesday, July 16, 2025. The record date for the share buyback has not been decided yet. The buyback price of ₹ 875 is almost same to the stock's trading level in 2022, when the company had announced its previous buyback. Avinash Gorakshkar, Head of Research at Profitmart Securities, recommends investors to apply for the Tanla Platforms buyback offer. However, he believes that Tanla Platform buyback size is small, and more applications for the buyback offer can be expected. 'The Tanla Platform's buyback size is just 1.49% of the total paid-up shares of the company. So, the Tanla Platform buyback size is small, and we expect more applications for the buyback offer. Hence, the Tanla Platform's buyback ratio of acceptance is expected to remain low. But, looking at the premium and market conditions, Tanla Platforms shareholders are advised to apply for the Tanla Platforms buyback offer,' Gorakshkar said. On the other hand, Anshul Jain, Head of Research at Lakshmishree Investments, pointed out that volumes during the base formation have been broadly accumulative, the recent Tanla Platforms buyback announcement failed to ignite momentum. 'Tanla Platforms share price is developing a 107-day-long rounding bottom pattern on the daily chart and is gradually approaching the neckline resistance at ₹ 776. This indicates that traders are awaiting a technical breakout above the neckline. A strong close above ₹ 776, supported by volume, will confirm the pattern and open upside potential toward the ₹ 850 to ₹ 875 zone,' Jain said. 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.
Mint
02-06-2025
- Business
- Mint
India-Pakistan conflict: F-16 fighter jet maker Lockheed Martin share price gives zero return in one month
India-Pakistan conflict: India-Pakistan conflict: Shares of Lockheed Martin, the manufacturer of the F-16 fighter jets prized by Pakistan, have remained lacklustre over the past month, following India's Operation Sindoor. During the four-day military conflict with India, which took place in May, Pakistan deployed fighter jets like F-16 and J-10, drones and missiles, but its attempts were successfully thwarted by India's air defence and battle-proven systems. Analysts believe this could prove a setback for the American defence company as it could impact its order book. Against this backdrop, Lockheed Martin, the US defence giant, has remained largely unchanged during this period. The stock edged up just 0.97% in May. 'Even though the US gave F-16 fighter jets to Pakistan for other than war use, there are reports that Pakistan used Lockheed Martin Corp's F-16 and China's J-10 fighter jets during Operation Sindoor last month. However, neither could breach India's air defence system, which would be a massive setback for China and the US,' explained Avinash Gorakshkar, Head of Research at Profitmart Securities. The market is expecting some hit on the order book of these defence companies in the upcoming quarters, said Goranshakr, explaining the weak returns in shares of Lockheed Martin.
Mint
02-06-2025
- Business
- Mint
Aegis Vopak Terminals IPO listing date today. Here's what GMP, analysts signal ahead of stock market debut
After three days of bidding, Aegis Vopak Terminals IPO will be making its stock market debut on Monday, June 2 on both BSE, NSE. The mainboard IPO saw a moderate response from investors across all categories. The allotment of Aegis Vopak Terminals IPO was finalised on Thursday, May 29, 2025. Aegis Vopak Terminals IPO, which was open from May 26 to May 28, saw a modest response, being subscribed 2.09 times overall. The offering comprised solely a fresh issue of 11.91 crore equity shares, with a price band set between ₹ 223 and ₹ 235 per share. The non-institutional investor category received a 56% subscription, while the retail individual investor (RII) portion was subscribed at 77%. The allocation for qualified institutional buyers (QIBs) was oversubscribed by 3.30 times. Before the public offering, the company secured ₹ 1,260 crore through anchor investors. The shares of Aegis Vopak Terminals IPO is currently trading at a premium of - ₹ 1 in the grey market, according to This means that the IPO is likely to witness discounted listing at a price of ₹ 234, which is marginally lower than the IPO price band of ₹ 235. As per grey market trends, the lowest GMP of Aegis Vopak Terminals IPO is ₹ -1.00, while the highest GMP is ₹ 15. 'Grey market premium' indicates investors' readiness to pay more than the issue price. According to analysts, Aegis Vopak Terminals IPO is likely to see its shares debut at par with their upper price band due to positive market sentiments on Dalal Street. 'Aegis Vopak Terminals' IPO received a tepid response from Indian primary market investors as the initial public offering was offered at a higher valuation. However, due to the positive sentiments on Dalal Street, we may see Aegis Vopak Terminals shares debut at par with their upper price band,' said Avinash Gorakshkar, Head of Research at Profitmart Securities. 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.
