Business
Trade Spotlight | What should investors do with Maruti Suzuki, Zee Entertainment, Axis Bank, Bharat Dynamics?
Indian stocks closed higher on Jan. 25, snapping a five-day losing streak ahead of the expiry of January futures and options contracts and the Federal Reserve’s interest rate decision.
The BSE Sensex rose more than 360 points to close above the 57,850 level, while the Nifty50 rose more than 120 points to close above the 17,270 level, supported by banks, autos, FMCG, metals and pharmaceuticals.
The broader market also participated in the bull run, with the Nifty Midcap 100 and Smallcap 100 both up 1%.
Maruti Suzuki closed up 6.83 per cent at Rs 8,602.60 per share, the top gainer on Nifty, followed by Axis Bank, which closed up 6.76 per cent at Rs 752.20 per share.
Zee Entertainment Enterprises surged 7.72 percent to close at Rs 288.80 per share, the top gainer in the futures and options sector. On the other hand, Bharat Dynamics rose 4.16 percent to settle at a record close of Rs 465.35. Aside from a small consolidation breakout on the daily chart, the stock appears to have had multiple breakouts. However, on the weekly chart, the counter is moving within a well-defined 30-week channel, so its initial target is likely to be the upper end of the channel, with a value around Rs 8,700.
Hence, for further upside, it needs to break out of the aforementioned channel, in which case a lifetime high around Rs 9,990 can be expected eventually.
For the time being, fresh buying should be considered on dips, but stop losses below Rs 7,887 on close and look for a near-term target of Rs 9,000.
Complete News Source : Money Control
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Business
Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise
%20(3).jpg "Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise")
Tributes continue to pour in for Ratan Tata, with Virat Kohli and Jay Shah taking to their social media accounts to bid farewell to the industrialist.
Former Indian captain and batting legend Virat Kohli paid a touching tribute to Ratan Tata, the legendary business tycoon, who passed away on Wednesday night. Tata, a Padma Vibhushan recipient, was undergoing treatment in intensive care since Monday but breathed his last in Mumbai, leaving a profound impact on many across the nation.
Kohli expressed his condolences through his Instagram account on Thursday morning, sharing a heartfelt message along with a photo of the late industrialist.
Tata’s contribution to business, society, and philanthropy has been widely acknowledged, and his passing marks the end of an era.
The Board of Control for Cricket in India (BCCI) secretary, Jay Shah, also conveyed his sorrow, stating, “Deeply saddened by the loss of Shri Ratan Tata Ji. His leadership, integrity, and dedication to society set a remarkable standard for legacy. My heartfelt condolences to his loved ones. Rest in peace, Sir.” Shah’s words reflect the collective grief of a nation that has long admired Tata’s contributions to the country.
BCCI’s tribute
Additionally, the BCCI issued a statement about his demise.
“The BCCI expresses its deepest sorrow and joins the nation in mourning the passing of Shri Ratan Tata ji. His invaluable contributions across diverse fields have been instrumental in shaping India’s growth and success story.
His extraordinary legacy, founded on the principles of passion, empathy, visionary leadership, innovation, and excellence, will continue to inspire and guide future generations for years to come,” the statement read.
Ratan Tata, born on December 28, 1937, in Mumbai, embarked on his journey with the Tata Group in 1962 as a young executive. Over the decades, he transformed the group into a global conglomerate. His work was acknowledged with India’s second-highest civilian honour, the Padma Vibhushan, in 2008, and he received numerous accolades, including honorary doctorates from prestigious institutions in India and abroad.
Tata is survived by his family, including brothers and sisters Simone Tata, Jimmy Tata, Noel Tata, Aloo Tata, Shireen Jejeebhoy, Deanne Jejeebhoy, Leah Tata, Maya Tata, Neville Tata, Manasi Tata, Jamset Tata, Tiana Tata, and others, as mentioned in a family statement.
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