• GSM Foils IPO will open for subscription on May 24

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• HBL Power Systems has seen a remarkable gain of 394% in the past year, with long-term investors enjoying staggering returns of 1254% in three years and 2143% in five years. The stock has surged by 5367% in a decade, consistently delivering positive annual returns.

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• Stock Market Today: Nifty IT Index rebounds 1.3% on Thursday and was among top sectoral performers. IT companies such as Coforge, Persistent, TCS, Mphasis, LTIMindtree, Infosys share prices gained up to 4% . Should you Buy, Sell or Hold the stocks?

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• The success of Paytm’s loan distribution business is crucial for offsetting losses from its payment services amid increased competition from new entrants and ongoing regulatory uncertainties

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• Market buoyancy continued as Nifty reclaimed record high, gaining over 1.5%. Positive trend expected to persist with banking index adding momentum. Focus on heavyweight stocks advised.

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• Top Gainers and Losers Today : The Sensex gained 1196.98 points, or 1.61, to settle at 74221.06, while the Nifty gained 369.85 points, or 1.64, to close at 22597.8.

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• ITC Dividend: The FMCG giant announced a final dividend for FY24 and has fixed the record date as July 4

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• IIFL Alternative Research projects Adani Enterprises’ inclusion in the Sensex, potentially leading to significant inflows. It forecasts ₹1,000 crore inflows if Adani Enterprises joins Sensex. The BSE is expected to announce its index reconfiguration tomorrow.

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• Awfis Space Solutions offers flexible workspace solutions for various businesses. Promoters Peak XV and Amit Ramani hold 41.05% equity shares. The IPO includes fresh offering of ₹128 crore and OFS of up to 12,295,699 equity shares.

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• Top 5 index heavyweights drove over 50% of Sensex’s 1,115-point surge, hitting a record high of 75,336.44. Rally fueled by strong Q4 earnings, RBI’s record dividend payout, election outcome certainty, and reduced foreign selling.

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• A quick reversal in Ramco’s fortunes appears unlikely due to the multiple company-specific overhangs amid weak prices in core markets

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• Analysing the current state of Brent oil prices, the brokerage highlighted that their recent range-bound nature, is occasionally influenced by geopolitical tensions.

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• Ventura Securities initiates coverage on Responsive Industries, citing long-term growth opportunities in vinyl tiles. Imposition of 25% import duty on Chinese products in the US creates opportunities for Indian manufacturers.

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• Stock market today: The Indian stock market, the Sensex and the Nifty 50 jumped over a per cent each in intraday trade on BSE on Thursday, May 23.

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• Jio Financial Services to seek shareholder nod for foreign investments through equity: Report

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• Lok Sabha Election 2024: Bernstein analyses four scenarios post-Lok Sabha elections. Depending on the BJP’s seat range, there may be varying market reactions. Higher seats for the BJP could lead to a market rally, while lower seats may result in heavy profit booking.

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• The brokers are told that they will have to ensure that the mobile numbers/ email ids of their employees or remisiers and authorised persons are not uploaded on behalf of their clients.

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• Persistent Systems and KPIT Technologies are top sector ideas with ‘buy’ calls and potential upsides of over 24% and 16%, respectively. Both companies have shown consistent growth amidst challenging times and have strong deal pipelines.

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• Metal stocks surge as industrial metal prices rise, driving investor optimism. Nifty Metal is up 24.34% in 2024. Hindustan Zinc leads gains, up 126% in CY24, followed by Vedanta, MOIL, NALCO, Jindal Steel, SAIL, Coal India, and NMDC.

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• Star Health and Allied Insurance shares have been underperforming since their December 2021 debut, trading now at ₹539.30 apiece, over 40% lower than the IPO price.

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• Awfis Space, a market leader in flexible workspace, offers significant growth potential with a dominant position in the market. Financial statements show increased revenue and reduced losses, with a positive outlook for future profitability. Investors willing to take risks can subscribe to the IPO.

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• Following shares hit their 52 week low today – United Polyfab Gujarat, Brightcom Group, GSS Infotech, MEGASTAR FOOD, Atal Realtech

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• Following shares hit their 52 week high today – Macrotech Developers, Bharat Electronics, Eicher Motors, Interglobe Aviation, Indian Railway Catering & Tourism Corporation

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• Stock market today: Go Digit General Insurance share price listed with slight 5% premium over the issue price on the NSE at ₹286 , in line with the analyst expectations and the GMP. The stock however gained almost 7% post listing Should you But, Sell or Hold the stock? Here’s what experts say-

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• Quest Laboratories listing: Shares of Quest Laboratories got listed at a premium of nearly 60 per cent at ₹155 apiece against its issue price of ₹97 on NSE.

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• Over the past four years, Sobha has reduced its net debt by 58% from a peak of ₹3,020 crore in FY20 to ₹1,260 crore by the end of FY24.

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• PG Electroplast, a leading Indian EMS provider, reported impressive financial performance for Q4 and FY24. The company’s product business sales grew by 25% in Q4FY24. PGEL projects a substantial revenue increase to ₹3,400 crores in FY2025.

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• Garden Reach Shipbuilders & Engineers stock surges over 18% to ₹1,410.15 after strong Q4FY24 results. Net profit more than doubles YoY to ₹111.60 crore. Sales jump 68.96% YoY to ₹1015.73 crore. EBITDA triples to ₹90.5 crore in the quarter.

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• Gold And Silver Prices Today:Gold And Silver Prices Today : 10 gm of 24 carat gold was at Rs.75562.0 in Delhi whereas 1 kg of silver was Rs.92980.0 in Delhi.

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• Top Stock Recommendations: Osho Krishan, Sr. Analyst, Technical & Derivatives of Angel One, recommends buying Ipca Laboratories Ltd (Ipca Lab), and NRB Bearing Ltd.

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• Go Digit share price saw lukewarm debut on bourses with share price opening at ₹286 on NSE and ₹281.10 on BSE. Subscription status on final day was 9.60 times, with QIBs at 12.56 times, non-institutional investors at 7.24 times, and RIIs at 4.27 times.

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• Jubilant FoodWorks share price surged a day after reporting Q4 results. The company’s consolidated net profit for Q4FY24 jumped over 630 per cent YoY to ₹208.25 crore, with revenue rising by 24 per cent YoY.

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• Sebi has laid out a framework for calculating an unaffected share price for transactions on the stock exchanges if there is a material price movement due to rumours, and if such rumours are confirmed by a listed company within 24 hours

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• Stocks to buy today: Experts have recommended buying these five shares — Tata Consumer Products, GMR Airports Infrastructure, Mahindra & Mahindra Financial Services, Divi’s Laboratories, and Infosys.

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• Here are a few stocks likely to be in focus on Thursday, May 23:

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• Gift Nifty was trading around 22,658 level, a premium of barely 8 points from the Nifty futures’ previous close

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• Indian stock market: Gift Nifty today morning is trading lower by more than 10 points from Wednesday close. The Indian stock market is expected to open with minor losses

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• Go Digit General Insurance IPO listing today with subdued GMP of ₹30, 11% over issue price. Strong fundamentals and technological edge may lead to respectable listing despite market volatility.

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• Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — TD Power Systems Ltd, Granules India Ltd, and Westlife Foodworld Ltd.

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