Hindalco Industries shares reached a new record on Monday. This surge is fueled by increasing global metal prices and positive sentiment around a potential U.S.-China trade deal. Investors are now anticipating the company's September quarter earnings. Hindalco's strong performance in India and its Novelis business are key drivers. The company is a major player in aluminium and copper production.
Coforge's stock took off following impressive quarterly performance. The IT services company enjoyed an 86% increase in net profit alongside a 32% revenue boost. Analysts are upbeat, with several brokerages not only holding onto their buy ratings but also increasing target prices. The companys robust order book, paired with managements reassurances on growth, points to exciting opportunities on the horizon.
Six initial public offerings are set to open for subscription this week. These companies aim to collectively raise more than Rs 1,800 crore. Investors can consider options ranging from consumer brands to logistics and textile firms. Grey market premiums suggest potential returns for some of these upcoming listings. This presents a busy period for India's primary market.
Nifty paused its six-day winning streak, with analysts suggesting potential near-term drift towards 25,400 before resuming an upside trajectory. While banking stocks show vulnerability, Oil & Gas counters, especially Reliance Industries, offer resilience. Further unwinding in derivatives is anticipated, with FIIs actively covering shorts.
Signs of a nearing US-China trade deal sparked a broad market rally, boosting stocks, oil, and copper, while Treasuries and gold declined. Investors are anticipating a potential accord, with top negotiators reporting progress on contentious issues. This development is seen as a short-term risk-on cue, though sustainability hinges on fundamental backing.
Adani Group companies are actively raising substantial funds through long-term corporate bonds. Mutual funds, insurers, and banks are investing heavily in these issuances. The group has tapped the domestic bond market multiple times, offering maturities of up to 19 years. These bonds are attractive to institutions seeking long-term, high-rated instruments.
Overseas fund managers are exhibiting their most bullish sentiment towards Indian equities since July, significantly reducing bearish wagers in Nifty futures. This shift follows a recent market bounce, bringing indices close to all-time highs. Foreign portfolio investors have also turned net buyers in October after substantial September sales, potentially fueling further gains.
