Crude oil prices have rebounded after three consecutive days of decline, with China’s interest rate cut pushing crude oil up by more than 3% to cross the $74-per-barrel mark. This surge in prices is expected to drive action in OMCs, paint, cement, and aviation shares. Meanwhile, gold prices remain under pressure, which could impact the action of gold loan companies’ shares.
Before the market opened, the CNBC Awaz channel suggested that investors consider trading in 20 strong stocks, including Cummins India and LIC Housing Finance. By investing with understanding and analysis, investors can earn good returns.
In other market news, Tata Chemicals has reduced the price of soda ash to Rs 2,300 per tonne, following Nirma’s price reduction of Rs 2,000 per tonne. LIC Housing Finance’s full-time Director and CEO, Ashwani Ghai, has resigned from his position. Anupam Rasayan has received a Letter of Intent worth Rs 2,186 crore from a Japanese specialty chemical company. NuRe FutureTech has signed an agreement with Chennai’s SRM Valliammai Eng College to open an AI lab on campus. The company’s order book has also received a boost thanks to an order from Keytrade Bank for digital transformation.
Societe Generale has sold 4 lakh shares at Rs 681.74 per share against Nazara Technologies. Small Cap World Fund has sold 10.92 lakh shares of Bajaj Electricals for Rs 1,175 per share. Godrej Agrovet is set to launch a new product today, with reports suggesting that the company may receive a fund infusion from Vodafone.
In other news, KEC International has received new orders worth Rs 1,373 crore. Aircastle has filed a complaint against InterGlobe Aviation for non-payment of dues, with the case scheduled to be heard in NCLT on July 27. GS has recommended purchasing InterGlobe Aviation shares, with a target of Rs 2,730 per share. The Chinese government may soon announce a relief package, while the US FDA has completed its inspection of Zydus Life’s Ahmedabad unit without any problems. Jindal Group may buy a 45% stake in MG Motor India, and Persistenet Systems has been given an underweight rating by JP Morgan, with a target of Rs 4,100 per share.
Disclaimer: The thoughts and investment advice expressed on Moneycontrol.com are those of investment experts. Moneycontrol advises users to seek advice from a certified expert before making any investment decisions.
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