HDFC Gains As Kotak Upgrades Rating, Raises Target Price

Housing Development Finance Corporation share price rose 1 percent intraday on December 10 after broking house Kotak Institutional Equities upgraded the stock and also raised the target price.

Kotak Institutional Equities has upgraded the stock to buy rating from add and also raised its target price to Rs 2,600 from Rs 2,400 per share. According to the broking house, the company will be a key beneficiary of consolidation in the NBFC sector.

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Benchmark Indices Are Trading Marginally Lower With IT Stocks

Benchmark indices are trading marginally lower with IT stocks are witnessing selling pressure.

The Sensex is down 16.31 points or 0.04% at 40471.12, and the Nifty down 7.20 points or 0.06% at 11930.30. About 697 shares have advanced, 804 shares declined, and 73 shares are unchanged.

The share price touched 52-week low of Rs 23.80, falling nearly 4 percent intraday on December 10 on rating downgraded by CRISIL.

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Wall Street Ended Solidly Higher On Friday As A Strong Jobs Report

Wall Street ended solidly higher on Friday as a strong jobs report and optimism about US-China trade negotiations ahead of an upcoming deadline helped stoke investor risk appetite. All three major US stock indexes gained ground, hovering within 1 percent of record highs set last week.

The Dow Jones Industrial Average rose 337.27 points, or 1.22 percent, to 28,015.06, the S&P 500 gained 28.48 points, or 0.91 percent, to 3,145.91 and the Nasdaq Composite added 85.83 points, or 1 percent, to 8,656.53.

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The Sensex Was Up 64.73 Points Or 0.16% At 40509.88, And The Nifty Was Up 14.80 Points

The Sensex was up 64.73 points or 0.16% at 40509.88, and the Nifty was up 14.80 points or 0.12% at 11936.30. About 388 shares have advanced, 206 shares declined, and 47 shares are unchanged.

Zee Entertainment, Maruti Suzuki, Asian Paints, Hero MotoCorp and Tata Steel are among major gainers on the Indices, while losers are Vodafone Idea, Bharti Infratel, Wipro, Axis Bank, IndusInd Bank and ITC.

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Yes Bank Sheds 6% Post Moody's Downgrades

Yes Bank share price shed 6 percent after Moody's downgraded bank's company's long term foreign currency issuer rating to B2 from Ba3.

Mahindra and Mahindra share prices dip 1.36 percent post acquisition announcement of Meru

Its sales numbers fell from 41,557 in November 18 to 38,053 in November 19 as per the unaudited production, sales and export figures reported by the company.

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Wall Street Eked Out Slight Gains On Thursday As Investors Waited

Wall Street eked out slight gains on Thursday as investors waited for concrete news on a hoped-for interim trade deal between the United States and China before a new round of tariffs scheduled to kick in on December 15.

The Dow Jones Industrial Average rose 28.01 points, or 0.1%, to 27,677.79, the S&P 500 gained 4.67 points, or 0.15%, to 3,117.43 and the Nasdaq Composite added 4.03 points, or 0.05%, to 8,570.70.

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Reliance Industries Share Price Climbed Almost 2 Percent In Early Trade On December 5

Reliance Industries share price climbed almost 2 percent in early trade on December 5 after Goldman Sachs raised the target price of the stock to Rs 1,850.

The global financial firm reiterated a buy rating on the stock, raising the target price to Rs 1,850 from Rs 1,635.

Goldman Sachs also raised an earnings estimate of the company for FY21 and FY22 and said that the growth and free cash flow are accelerating. CLSA too has a buy recommendation on the stock and raised the target price to Rs 2,010 from Rs 1,710.

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