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Sensex Gains 380 Points, Nifty Ends Above 17,800; HDFC Life & Adani Ports Rally 5%
Tue, 16 Aug Closing

Indian share markets settled near four-month highs as fag-end buying in Reliance Industries' and other index heavyweight stocks pushed benchmark indices off their day's low.

Strong global cues and steady decline in inflation (CPI and WPI) added to the rally.

At the closing bell, the BSE Sensex stood higher by 380 points (up 0.6%).

Meanwhile, the NSE Nifty closed higher by 127 points (up 0.7%).

Mahindra and Mahindra, Maruti Suzuki, and Asian Paints were among the top gainers today.

SBI, Bharti Airtel , and Bajaj Finance on the other hand, were among the top losers today.

India celebrated its 75th year of independence yesterday. Check out the must have stocks in India's 75th year of independence.

The SGX Nifty was trading at 17,859, up by 74 points, at the time of writing.

Broader markets ended on a positive note. The BSE Midcap index climbed up by 1.03% while the BSE Smallcap index also climbed up by 1.03%.

For more information, check out these fast growing smallcap stocks with zero debt that have consistently reported increasing revenues and profits.

Sectoral indices ended on a mixed note with stocks in the auto sector and realty sector witnessing maximum buying.

On the other hand, stocks in the metal, IT and telecom sector witnessed selling interest.

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Sugar stocks also fell today. To know more, check out why sugar stocks are falling.

Shares of Tata Elxsi, Wabco India and SKF India hit their 52-week highs today.

Since you're interested in high flying stocks, check out our guide on how to pick the best multibagger stocks in 2022.

Also check out these top 5 stocks which mutual funds bought and sold in July 2022.

ICICI Bank, HDFC, and Maruti Suzuki were amongst the most active shares on the BSE today.

If you're interested in knowing which shares to trade, read our guide on the best intraday stocks for today.

Asian stock markets ended on a mixed note. The Nikkei ended the day lower by 2.9%, while the Hang Seng inched lower by 1.1%. The Shanghai Composite ended 0.1% higher.

The rupee is trading at 79.3 against the US$.

Gold prices for the latest contract on MCX are trading down by 1.4% at Rs 51,858 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading down by 2.9% at Rs 57,580 per 1 kg.

Of late, gold price is falling while silver isn't far behind. Silver price is also falling as industrial demand for silver is under pressure while a stronger US dollar is adding to worries.

Once the Fed signals an end to the rate hikes (or hints at it) and when investors are confident the US economy will emerge from the recession, that's when we see gold and silver prices recovering.

Speaking of stock markets, Chartist Brijesh Bhatia talks how can Bank Nifty lead Nifty to an all-time high, in his latest video for Fast Profits Daily.

According to Brijesh, banking stocks are getting ready for big breakout.

Check out the below video to know more:

In news from the auto sector, auto stocks rose today with Escorts Kubota, Eicher Motors and Tata Motors DVR leading with gains.

According to Brijesh, the auto index is trending close to its all-time high after the breakout from multiple resistance levels (marked green on the chart below).

The index has broken out from the breather in the form of a wedge pattern (black dotted lines on the chart).

Nifty Auto Index Chart

 

Brijesh believes even as auto stocks are rising, the momentum is not over yet.

As the auto index outperforms and stock markets recover, the auto index may breakout towards new all-time highs.

The question now is whether the Auto index will outperform Nifty or not.

In news from the pharma sector, Shares of Max Healthcare Institute rallied 7% today as KKR sold stake.

US private equity major KKR today sold its entire 27% stake in Max Healthcare Institute for Rs 94.16 bn.

The stake sale was closed by block deal in three tranches.

The price was fixed at Rs 350 to Rs 361.9 a share at a discount of 3.29% to its closing price on 12 August, according to the deal terms.

The base offer was for around 20% stake or 193 m shares, and the upsize option was for the remaining 6.83% stake or 66 m shares.

With this deal, the company sold its entire stake in hospital chain Max Healthcare today.

Previously, the company offloaded its holding in September 2021 and March 2022.

Note that last week, Max Healthcare reported a stellar performance for the June quarter 2022.

The multinational pharmaceutical reported a 18% YoY growth in consolidated revenues at Rs 14.7 bn, up from same quarter last year. This was due to improvement in payor mix and increase in the footfalls of patients.

However, the company's EBITDA grew by 3% YoY to Rs 3.7 bn as input costs rose.

To know more, check out Max Healthcare's latest news and analysis.

Moving on to the news from the logistics sector, Shares of Adani Ports and Special Economic Zone (APSEZ) rallied 5% today.

Adani Logistics, subsidiary of APSEZ acquires inland container depot Tumb for Rs 8.3 bn.

Adani Logistics, a wholly owned subsidiary of Adani Ports and Special Economic Zone (APSEZ), has signed a definitive agreement to acquire the ICD 'Tumb' (Vapi) from Navkar Corporation.

Tumb is one of the largest ICDs in the country.

The deal comprises acquisition of the operational ICD with capacity to handle 0.5 m TEUs.

The associated 129 acres of land provides an additional expansion path to increase capacity and cargo in near future as additional industrial corridors and logistic parks get added along these DFC routes.

The Tumb ICD has a private freight terminal with four rail handling lines connected with Western DFC and has custom notified land & bonded warehouse facilities.

Commenting on the acquisition, Adani Ports and Special Economic Zones CEO, Karan Adani said,

  • Tumb is one of the largest ICDs in the country. Given its strategic positioning in the middle of one of the busiest industrial zones and access to the dedicated freight corridor allows it to meaningfully serve the vast hinterland with access to two of the busiest ports on both sides, Hazira & Nhava Sheva.

    In addition to cargo moving by rail being 5X greener than that moving by road, another prime benefit of the access to the DFC is the savings in average transit times that is expected to be 10 hours by rail versus 24 hours by road.

    This acquisition fits well with our transformation strategy towards becoming a transport utility as well as move us closer to our objective of providing economical door to door services to our customers.

To know more, check out Adani Ports and SEZ's latest news and analysis.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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