The outlook for the stock of Power Finance Corporation (PFC) (₹465.95) appears bright. If the current bullish trend sustains, it has the potential to create a new high. The nearest resistance is at ₹544. Immediate support is at ₹433 and ₹361. A close below the latter will change the positive outlook. We expect the stock to sustain the bullish trend.

Nifty 50 (22,502) and Bank Nifty (48,200) made a recovery and appreciated 2 per cent and 1.6 per cent respectively last week. The positioning of derivative participants has now turned positive for both indices. Here is an analysis.

What is the short-term outlook for Nifty Financial Services? Can I go long now?

With rising power demand and the Centre’s ambitious target of installing 500 GW of non-fossil fuel capacity by 2030, Tata Power has been a significant beneficiary. The necessary expansion of the transmission network to maintain grid stability further supports the company’s growth. Additionally, its dominant market share in the rooftop solar segment positions Tata Power well to capitalise on opportunities presented by the PM Surya Ghar Muft Bijli Yojana announced in Budget 2024.

Equity benchmark indices closed the special trading session on a firm note on Saturday, extending their rally to the third day running amid fresh foreign fund inflows.

Time has come for India to look at the next generation of capital market reforms that would particularly focus on shaping the country’s future debt market, Anantha Nageswaran, Chief Economic Advisor to the Finance Ministry, said on Friday.

The Indian benchmark indices witnessed a strong bounce last week. Sensex, Nifty 50 and the Nifty Bank index broke their supports initially, but did not get a strong follow-through selling. The indices bounced back sharply from their lows and have closed the week on a positive note. The intra-week price action also indicates that the indices are getting strong buyers at lower levels. That leaves the outlook positive for the Sensex, Nifty and Nifty Bank index for the coming week.

Investors in small and medium enterprises’ initial public offerings laugh all the way to bank after tripling and quadrupling their investments in matter of 10-15 days, even as exchanges plan to tighten norms. The three SME IPOs—Winsol Engineers, Refractory Shapes, and TGIF Agribusiness—were listed at a huge premium last week on NSE Emerge and BSE SME Exchange. Winsol Engineers made a bumper debut with the shares listing at ₹365 a piece on NSE Emerge against the issue price of ₹75, delivering a return of over four times. The company’s share closed at ₹422 on Friday. With a lot size of 1,600 shares, an investment of ₹1.20 lakh would have fetched ₹5.84 lakh, if one had sold on listing and ₹6.75 lakh if held till the weekend. Also read Know these 5 things before subscribing for SME IPOs Incidentally, the entire gain was earned in 8 days, as the bidding for Winsol Engineers’ IPO began on May 6, and shares were listed on May 14. Read: SME mop-up via IPOs makes giant strides in CY23  Nevil Savjani, Director of Beeline Capital Advisors, said…

Foreign portfolio investors turned buyers on Friday for the first time in May, snapping a 11-session selling streak that saw a selloff of over ₹37,000 crore in the cash market.

Target: ₹2,650