Sun, Jun 16, 2024 6:50 PM
Winsol Engineers Stock Rallied 20% in Just 1 Day, Hit Upper Circuit!
A Flip by Avya Verma
Market Update at 11:15 AM: In the ongoing trading session, Benchmark indices are trading on a positive note with Sensex trading higher by 0.34% while Nifty gained by 0.24%. Similarly in the broader indices Nifty Midcap experience marginal gains of 0.02%, while Nifty Smallcap has surged by 0.27%. Top gainers in individual stocks are 📌Ultratech Cement, 📌Reliance and 📌Shriram Finance.
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Jefferies maintains a "buy" call on ICICI Bank with a target of ₹1,350, implying a 12.69% upside, driven by its 20% deposit growth, slower cost growth, and asset quality holding up. The bank's net profit rose 17.37% to ₹10,707.53 crore in March quarter, with a gross NPA ratio of 2.16% and net NPA of 0.42%. ICICI Bank's market cap has crossed $100 billion, making it the 6th Indian company to do so.
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Shares of Tata Motors rebounded, ending a three-session losing streak, after JP Morgan maintained its "overweight" rating with a price target of ₹1,115, indicating a 16% upside from its last closing price of ₹955. The brokerage cited a 21% year-on-year increase in Jaguar Land Rover's May 2024 retail sales, with combined retail sales for April and May growing 16% year-on-year.
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