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Share Market Closing Note | Sharetipsinfo

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Share Market Closing Note

Benchmark indices ended lower in the volatile session on May 24, with Nifty below 16,150.Closing Bell: Indian market closes the week on a negative note, Nifty falls  below 17500 | 5Paisa|


At close, the Sensex was down 236.00 points or 0.43% at 54,052.61, and the Nifty was down 89.50 points or 0.55% at 16,125.20. About 1005 shares have advanced, 2220 shares declined, and 121 shares are unchanged.


Dr Reddys Labs, Kotak Mahindra Bank, HDFC, Nestle India and HDFC Bank were among the top Nifty gainers, while losers included Divis Labs, Tech Mahindra, Grasim Industries, Hindalco Industries and HUL.


Among sectors, IT, pharma, metal, FMCG, power and realty indices down 1 percent each.


BSE midcap index fell 0.8 percent and smallcap index shed 1 percent.

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Topic :- Time:3.00 PM

Nifty future if holds above 16100 level on closing basis then some pull back can be seen and if it breaks and closes below 16100 level then expect more decline in the market. Avoid open long positions for tomorrow.

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Topic :- Time:2.00 PM

Once again nifty is trading in red zone now. Nifty spot if breaks and trade below 16140 level then some decline can follow in it and if it manages to trade and sustain above 16180 level then some upmove can be seen in the market.

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Topic :- Time:1.30 PM

GOLD Trading View:

GOLD is trading at 51101.If it manages to trade and sustain above 51120 level then expect some quick upmove in it and if it breaks and trade below 51060 level then some decline can follow in it.

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Topic :- Time:1.15 PM

Just In:

Ramco Cement stock slips to new 52-week low amid challenges galore.

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Topic :- Time:1.00 PM

Nifty is showing some recovery. Nifty spot if manages to trade and sustain above 16260 level then expect some upmove in it and if it breaks and trade below 16200 level then some decline can follow in the market.

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Topic :- Time:12.45 PM

Just In:

Sri Lanka seeks $500-million loan from India for fuel purchases amid forex crisis.

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Topic :- Time:12.30 PM

COPPER Trading View:

COPPER is trading at 776.80.If it breaks and trade below 776 level then expect some quick decline in it and if it manages to trade and sustain above 778.60 level then some upmove can be seen in it.

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Topic :- Time:12.15 PM

Just In:

Layoffs, shutdowns, funding crunch: The Great Indian Startup Party is over.

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Topic :- Time:12.00 PM

Nifty spot if manages to trade and sustain above 16220 level then expect some upmove in the market and if it breaks and trade below 16180 level then some decline can follow in the Nifty. Currently nifty is at 16195.

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Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex, Nifty in red; defensives drag, Zomato soars 14%

2. GIC Singapore to invest Rs 2,195 cr in Aditya Birla Fashion and Retail

3. Tata Sons likely to earn record Rs 27,797 crore from its listed firms

4. Latest new live: PM Modi, US Prez Joe Biden hold bilateral talks in Tokyo

5. GAIL India moves NCLT to recover Rs 9,942 crore Uttam Galva dues

6. Chinese economic recovery faces new hurdle in rising power costs

7. Delhivery makes listless debut; opens 1% higher against issue price

8. Sebi issues new norms for constitution, disclosure of passive funds

9. Ahead of IPO, Aether Industries garners Rs 240 cr from anchor investors

10. Divis Labs sheds 14% in two days, hits 52-week low post Q4 results

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Topic :- Time:11.00 AM

After flat opening nifty is trading in negative zone. Nifty spot if breaks and trade below 16140 level then expect some decline in the market and if it manages to trade and sustain above 16180 level then some upmove can follow in the Nifty.

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Topic :- Nifty Opening Note

Indian Stock Market Trading View For Today:

Stock market is likely to remain volatile and is expected to follow global cues. Nifty spot if manages to trade and sustain above 16260 level then expect some upmove in it and if it breaks and trade below 16180 level then some decline can follow in the market. Please note this is just opening view and should not be considered as the view for the whole day.


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In bid to boost investment, PM Narendra Modi proposes 'Japan Week'

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"Met top business CEOs and highlighted the numerous investment opportunities in India," the Prime Minister said in a tweet

India-Japan are 'natural partners', PM Modi tells Indian community in Tokyo

Seeking greater investments in India, Prime Minister  on Monday proposed celebrating Japan's contribution to the country's development journey in the form of a Japan Week'.

Modi chaired a roundtable with Japanese business leaders here in which top executives and CEOs of 34 Japanese companies participated. The majority of these companies have investments and operations in India. The companies represented diverse sectors, including automobiles, electronics, semiconductors, steel, technology, trading and banking and finance, an official statement said.

"Met top business CEOs and highlighted the numerous investment opportunities in India," the Prime Minister said in a tweet.

Stressing that India and Japan are natural partners, the Prime Minister lauded the business community as brand ambassadors of the immense potential of India-Japan ties. The Prime Minister recalled that during the visit of Japanese Prime Minister Kishida to India in March 2022, both countries had set an ambitious target of investment of Japanese Yen 5 trillion over the next five years.

He highlighted recent developments in economic ties, such as India-Japan Industrial Competitiveness Partnership (IJICP) and Clean Energy Partnership, among others.

He talked about initiatives such National Infrastructure Pipeline (NIP), Production Linked Incentive (PLI) scheme, and semiconductor policy and highlighted the robust startup ecosystem of India. The Prime Minister noted that despite the slowdown in global FDI, India has attracted a record FDI of USD 84 billion in the previous financial year. He termed this a vote of confidence in India's economic potential.

"He invited greater participation by Japanese companies in India and proposed celebrating Japan's contribution to India's development journey in the form of a Japan Week'," the release said.

Top executives of companies like Honda Motor Co, Toyota Motor Corporation, Suzuki Motor Corporation, Sumitomo Chemical Co, Kawasaki Heavy Industries, Fujitsu, Nippon Steel Corporation, and Mitsubishi Corporation, attended the meeting.

Key business bodies and organisations from India and Japan such as Keidanren, Japan External Trade Organization (JETRO), Japan International Cooperation Agency (JICA), Japan Bank for International Cooperation (JBIC), Japan-India Business Consultative Committee (JIBCC) and Invest India also participated in the event.

Prime Minister Modi is in Japan on a two-day visit to attend a summit of the Quad leaders at the invitation of his Japanese counterpart Fumio Kishida.

eMudhra IPO: Issue fully subscribed on Day 3, retail portion booked 1.73 times, QIB 47%

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eMudhra IPO: The company will use Rs 35 crore of the net proceeds to pre-pay or repay loans, while Rs 40.2 crore will be utilised to meet working capital requirementseMudhra IPO: Issue fully subscribed on Day 3, retail portion booked 1.73  times, QIB 47%

The IPO of eMudhra Limited, India's largest licensed certified authority in the digital signature certificates space, was fully subscribed by the morning of May 24, the third and final day of subscription.

Investors had bid for 1.18 crore shares against an IPO size of 1.13 crore units. Retail investors booked 1.73 times or the shares set aside for them.

Non-institutional investors booked 17 percent of the shares allotted to them, while qualified institutional buyers' portion was subscribed 47 percent against a quota of 31.34 lakh shares.

The company is looking to garner about Rs 413 crore through fresh issue of equity shares aggregating up to Rs 161 crore and an offer-for-sale of 9,835,394 equity shares, aggregating up to Rs 252 crore by the shareholders and promoters.

After the issue, the promoter shareholding will decline by 18.16 percent to 61.03 percent.

Around 50 percent of the net offer has been reserved for qualified institutional buyers, 35 percent for retail investors and the remaining 15 percent for non-institutional investors.

The company intends to utilise Rs 35 crore of the net proceeds from the fresh issue to pre-pay or repay loans, while Rs 40.2 crore will be used for meeting working capital requirements.

The company intends to purchase equipment and set up data centres across India and overseas, for which it will be using Rs 46.36 crore from the fresh proceeds.

It also plans to spend Rs 15 crore on product development and Rs 15.3 crore on augmenting its business development, sales, marketing and other related costs for future growth and other general corporate purposes.

The company will not get any proceeds from the OFS portion, the proceeds of which will go to the promoters.

The company did a pre-IPO placement of 1,603,617 equity shares for a cash price of Rs 243.a share for an aggregate amount of Rs 39 crore to Baring Private Equity India AIF 2, Acacia Banyan Partners, Motilal Oswal Equity Opportunities Fund Series III, Negen Capital Services Private Limited, Value Wise Consultancy Private Limited, Jagadeesan Kumar, and Krishna Kumar.

Disclaimer: The views and investment tips of experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisionsAround 50 percent of the net offer has been reserved for qualified institutional buyers, 35 percent for retail investors and the remaining 15 percent for non-institutional investors.

The company intends to utilise Rs 35 crore of the net proceeds from the fresh issue to pre-pay or repay loans, while Rs 40.2 crore will be used for meeting working capital requirements.

The company intends to purchase equipment and set up data centres across India and overseas, for which it will be using Rs 46.36 crore from the fresh proceeds.

It also plans to spend Rs 15 crore on product development and Rs 15.3 crore on augmenting its business development, sales, marketing and other related costs for future growth and other general corporate purposes.

The company will not get any proceeds from the OFS portion, the proceeds of which will go to the promoters.

The company did a pre-IPO placement of 1,603,617 equity shares for a cash price of Rs 243.a share for an aggregate amount of Rs 39 crore to Baring Private Equity India AIF 2, Acacia Banyan Partners, Motilal Oswal Equity Opportunities Fund Series III, Negen Capital Services Private Limited, Value Wise Consultancy Private Limited, Jagadeesan Kumar, and Krishna Kumar.

Disclaimer: The views and investment tips of experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions

Tata Power, Tata Motors to develop 7MWp solar rooftop

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Tata Power and Tata Motors have collaborated to develop a 7 MWp solar rooftop project at the latter’s passenger vehicle plant in Chikhali, Pune..Tata Power, Tata Motors to develop 7MWp solar rooftop

This is the third phase of a joint 17 MWp on-site solar project developed by the two companies, of which 10 MWp has already been installed, a company statement said.

The two companies have recently inked a Power Purchase Agreement (PPA) for this solar project. The rooftop installation is collectively expected to generate 23 million units of electricity, mitigating 5.23 lakh tonnes of carbon dioxide. This will be equivalent to planting 8.36 lakh trees over a lifetime.

Rajesh Khatri, Vice President, Operations, Tata Motors Passenger Vehicles Ltd, said, with the new installation, Tata Power will move closer to its goal of 100 percent renewable energy. "Post commissioning of this capacity, we will become the largest on-site solar installation in India," he added.

Tata Motors, as a signatory to the RE100, is committed to using 100 percent renewable energy in its operations and has taken many steps toward this objective by gradually increasing the proportion of renewable energy used in its operations.

Tata Power has executed multiple large solar rooftop solutions including one of the world’s largest rooftops (16MW) at a single location at Radhasoami Satsang Beas (RSSB), Amritsar.

Infra projects of Rs 500cr and more to route through PM GatiShakti's NPG

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The Department for Promotion of Industry and Internal Trade (DPIIT) has also created a national master plan digital platform

According to the government’s internal estimates, the Gati Shakti project will help sharply reduce the time taken for getting approvals for infrastructure projects — around 162 days from 600 days now, in some cases.

All logistics and connectivity infrastructure projects, entailing investment of over Rs 500 crore, would now route through the network planning group (NPG) constituted under the PM GatiShakti initiative with the  issuing the necessary instructions, an official said.

The Department for Promotion of Industry and Internal Trade (DPIIT) has also created a national master plan digital platform.

The PM GatiShakti plan was announced last year with an aim to break departmental silos and bring in more holistic and integrated planning and execution of projects with a view to addressing the issues of multi-modal and last-mile connectivities.

This will help bring down the logistics cost and promote effective and efficient planning of infrastructure projects.

An integrated infrastructure network planning group (NPG) has been constituted which has representations from various connectivity infrastructure ministries/departments involving their heads of network planning division for unified planning and integration of the proposals.

"We have created the national master plan digital platform. We have provided training to people concerned and now we have this mandatory provision from the . So, now all logistics and connectivity projects will be approved on the principles of PM GatiShakti. All those projects, costing over Rs 500 crore will be considered by NPG," the official said.

The  has conducted several training sessions with various government departments and held regional conferences across the states.

NPG consists of heads of the network planning wing of respective infrastructure ministries and it will assist the empowered group of secretaries (EGOS), which is headed by the cabinet secretary. EGOS consists of secretaries of 18 ministries as members and Head of Logistics Division, under the DPIIT, as member convenor.

NPG will clear the projects as all infrastructure projects would have to come here. The Technical Support Unit is also in place.

All the departments will approach the NPG first for approval before making a DPR (detailed project reports) at the planning stage, the official said, adding after the NPG's clearance, the project would follow the normal procedure of approval by the  and the Cabinet, depending upon the projects.

For example, if railway is planning a project on a specified route, so by putting the relevant information on the the PM GatiShakti national master plan portal before finalising the DPR, it can see whether the proposed track is crossing through public land or private property or forest or canal or highways.

Over 600 layers of data are there on the portal.










Digital economy is space for future growth and opportunity between India, US: USIBC President

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Addressing the 7th India Ideas Conclave in Bangalore on Sunday hosted by the India Foundation, at the panel Commerce & Industry 2.0. President of the USIBC Atul Keshap discussed India's impressive development, the success of government-led digitisation efforts, and the country's status as the fastest-growing large economy.Digital economy is space for future growth and opportunity between India, US:  USIBC President

Describing the digital economy as a goose that lays golden eggs, the head of the US-India Business Council (USIBC) has called for the creation of structures, regulations and the legal framework to ensure the continued vitality and growth of this key sector in the US and India.

Addressing the 7th India Ideas Conclave in Bangalore on Sunday hosted by the India Foundation, at the panel Commerce & Industry 2.0. President of the USIBC Atul Keshap discussed India's impressive development, the success of government-led digitisation efforts, and the country's status as the fastest-growing large economy.

Digital economy trade is the goose that lays the golden eggs between both of our countries...My appeal to you would be that we make sure that we create the structures, and the regulations, and the legal framework to ensure the continued vitality and continued growth of the digital economy in the United States and India, Keshap, also a former top American diplomat, said.

There is a sweeping revolution happening in India, and it is going to have an enormous positive impact on India, on America, and on the entire world. After centuries of disruption, India is returning... to its historic stature as one of the largest and most dynamic and prosperous economies on earth, Keshap said.

The former State Department diplomat, who recently served as the Charg d'affaires of the US Embassy in India, was speaking on transformations in infrastructure, economic policy, and the digital economy among other areas.

India exported wheat worth $177 million in March, $473 million in April

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According to sources, India exported wheat even at a time when about eight nations, including Ukraine, Belarus, Turkey, Egypt, Kazakhstan and Kuwait, had imposed wheat export restrictions

Photo: Bloomberg

 has exported  worth $177 million in March and $473 million in April even after the Russia-Ukraine conflict started
in late February to help other countries overcome food crisis, sources said.

According to them,  exported  even at a time when about eight nations, including Ukraine, Belarus, Turkey, Egypt, Kazakhstan and Kuwait, had imposed  export restrictions.

IGL's Price Revision: CNG rates hiked by Rs 2 per kg

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A new hike in CNG prices is likely to pinch consumer wallets

Petrol, diesel price increase on wait-and-watch mode; CNG rates hiked
Indraprastha Gas Limited (IGL)(IGL) has revised the price of Compressed Natural Gas (CNG) by Rs 2 per kilogram with effect from May 21. The cost of CNG in Delhi now stands at Rs 75.61 per kg, according to an ANI report.

The price of CNG has been hiked to Rs 78.17 per Kg in Noida, Greater Noida and Ghaziabad, in Gurugram, it will cost Rs 83.94 per Kg.

“We are tightening our belts and looking at reducing costs to deal with the situation,” IGL,MD,Sanjay Kumar told the media. The Limited availability of government-controlled gas has forced IGL to use more LNG to meet double-digit growth in CNG and PNG (piped natural gas) demand.

“Several factors determine CNG prices. One of them is price of natural gas from various sources, including LNG (gas imported in ships). Gas prices are expected to remain high in the foreseeable future because of the Russia-Ukraine conflict. That will impact retail CNG rates,” Kumar explained.

The gas company apprehends no relief for CNG owners in Delhi-NCR. This is mostly due to steep international prices of natural gas.

"LNG prices are still hovering around $20 per unit, which is double the normal rate. Prices will rise further if summer is unusually warm in the western hemisphere. Domestic gas prices too are expected to rise further in October." Kumar disclosed.

The price increase is likely to hit not just private vehicle owners but also auto drivers and commercial vehicle owners as their livelihood is affected.

Air traffic flies past 2019 levels, but Covid turbulence fears linger

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Demand for global leisure and business flights has reached pre-pandemic levels. Such demand has not been witnessed since 2019.Air traffic flies past 2019 levels, but Covid turbulence fears linger

The demand for global leisure as well as business flights are on the rise, thanks to the ebbing crisis of the Covid pandemic and various other factors, according to a study.

The report by Mastercard Economics Institute, Travel 2022: Trends & Transitions, found that cross-border travel has reached the pre-pandemic levels as of March 2022. This is a positive development for the industry since air travel has been dominated by domestic flights since the pandemic began in 2020.

Mastercard Economics Institute chief economist for Asia-Pacific, Middle East and Africa, David Mann predicted that a  “major recovery” is underway.

Short-haul and long-haul cross-border leisure travel both seem to have reached the pre-pandemic levels. In April, the number of short and medium-haul flights climbed 25 percent over that of April 2019. An unusually high demand in international flight bookings made the total number of long-haul flights in 2022 almost reach the pre-Covid levels. 

“It is just pure evidence of how strong the pent-up demand has actually been,” Mann said on the surge in flight bookings.

It is not just the wanderlust for travel enthusiasts, business flyers too are taking to the skies. Business flight bookings in March this year exceeded the number of 2019, according to the report,

Even as there’s an upward trend in flight bookings globally, a return to air travel has been sluggish in Asia. “Despite a delayed recovery compared to the West,” Mann said, “Travelers in Asia Pacific have demonstrated a strong desire to return to travel where there have been liberalisations.”

If flight bookings continue at their current pace, an estimated 1.5 billion more global passengers will fly this year than in 2021, the report from the Economics Institute estimated.

Despite what seem to be positive projections, there are risks surrounding the air travel industry’s recovery. “Among the numerous risks that could derail travel recovery... we would put Covid as the biggest swing factor,” said Mann.

India, fastest-growing major economy, projected to grow 6.4% in 2022: UN

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The global economy is now projected to grow by only 3.1 per cent in 2022, down from the 4.0 per cent growth forecast released in January 2022. Global inflation is projected to increase to 6.7 per cent in 2022, twice the average of 2.9 per cent during 20102020, with sharp rises in food and energy prices, it said.India, fastest-growing major economy, projected to grow 6.4% in 2022: UN

As the Ukraine conflict impacts the global GDP, India is projected to grow by 6.4 per cent in 2022, slower than the last year's 8.8 per cent but still the fastest-growing major economy, with higher inflationary pressures and uneven recovery of the labour market curbing private consumption and investment, according to a UN report.

The UN Department of Economic and Social Affairs said in its World Economic Situation and Prospects (WESP) report released on Wednesday that the war in Ukraine has upended the fragile economic recovery from the pandemic, triggering a devastating humanitarian crisis in Europe, increasing food and commodity prices and globally exacerbating inflationary pressures.

The global economy is now projected to grow by only 3.1 per cent in 2022, down from the 4.0 per cent growth forecast released in January 2022. Global inflation is projected to increase to 6.7 per cent in 2022, twice the average of 2.9 per cent during 20102020, with sharp rises in food and energy prices, it said.

The report said that the outlook in South Asia has deteriorated in recent months, against the backdrop of the ongoing conflict in Ukraine, and higher commodity prices and potential negative spillover effects from monetary tightening in the United States. The regional economic output is projected to expand by 5.5 per cent in 2022, which is 0.4 percentage points lower than the forecast released in January.

India, the largest economy in the region, is expected to grow by 6.4 per cent in 2022, well below the 8.8 per cent growth in 2021, as higher inflationary pressures and uneven recovery of the labour market will curb private consumption and investment, it said. For the fiscal year 2023, India's growth is forecast to be 6 per cent.

Lead Author & Chief, Global Economic Monitoring Branch, Economic Analysis and Policy Division, United Nations Department of Economic and Social Affairs Hamid Rashid told reporters at the UN Headquarters that almost all regions in the world are affected by high inflation except for East Asia and South Asia. He said India in that sense is a little bit in a better position as it did not have to aggressively pursue monetary tightening compared to other countries in Latin America.

Brazil has raised interest rates repeatedly. India's projected growth for 2022 is 6.4 per cent, a downward adjustment of 0.3 per cent from January.

We expect Indian recovery to remain strong in the near term, in the next year and two, but again we cannot completely discount the downside risk that would come from external channels. So that risk is still there, he said. The report added that higher prices and shortages of farming inputs including fertilisers are likely to persist in the region, negatively impacting the agricultural sector in Bangladesh, India, Pakistan, and Sri Lanka.

This will probably result in weaker harvests and exert further upward pressures on food prices in the near term, the report said. It said along with higher energy prices, elevated prices of food will likely increase food insecurity across the region. Consumer price inflation in the region is expected to accelerate to 9.5 per cent in 2022, from 8.9 per cent in 2021.

The report also said that tighter external financial conditions will adversely affect regional growth prospects, especially for countries with high exposure to global capital markets facing debt distress or risks of debt default. The pandemic left many countries with large fiscal deficits and higher and unsustainable levels of public debt. Sri Lanka is currently facing a debt crisis and discussing a new IMF-supported programme to bring its economy out of the crisis, it said.

The downgrades in growth prospects are broad-based, including the world's largest economies the United States, China and the European Union and the majority of other developed and developing economies, it said. The growth prospects are weakening particularly in commodity-importing developing economies, driven by higher energy and food prices. The outlook is compounded by worsening food insecurity, especially in Africa, it added.

Growth forecasts for the United States, European Union and China have been revised downward, with the European Union registering the most significant downward revision.

The European Union economy most directly hit by disruptions in the energy supply from the Russian Federation is now expected to grow by 2.7 per cent in 2022, down from 3.9 per cent expected in January. The United States economy is expected to grow by 2.6 per cent in 2022 and 1.8 per cent next year, while China is expected to grow by 4.5 per cent in 2022 and 5.2 per cent in 2023. The developing countries, as a group, are projected to grow by 4.1 per cent in 2022, down from 6.7 per cent in 2021, the report said.

The war in Ukraine in all its dimensions is setting in motion a crisis that is also devastating global energy markets, disrupting financial systems and exacerbating extreme vulnerabilities for the developing world, UN Secretary-General Antonio Guterres said.

We need quick and decisive action to ensure a steady flow of food and energy in open markets, by lifting export restrictions, allocating surpluses and reserves to those who need them, and addressing food price increases to calm market volatility, he said.

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