Latest news with #AnshulJain

Mint
4 days ago
- Business
- Mint
LIC share price rebounds 34% from March lows: Is there more upside left for investors?
Life Insurance Corporation share price in focus: Shares of Life Insurance Corporation (LIC), a leading insurance and investment corporation in India, have made a strong comeback in recent months, driven by improving technicals, market sentiment, and optimistic views from the top brokerages, propelling the stock to record one of the biggest turnarounds since its listing. LIC shares began their one-way rally in March after hitting a 52-week low of ₹ 715.30, gaining 34% to date. This rebound followed a period of sustained selling pressure between August 2024 and February 2025, during which the stock lost 40% of its value. However, LIC has managed to recover most of those losses within just four months. The rebound has not only helped shareholders recover earlier losses but also lifted the company's market capitalisation, which jumped by ₹ 2 lakh crore to reclaim the ₹ 6 lakh crore mark in mid-June after a gap of seven months. Although the stock picked up momentum in March, the real acceleration came after the release of March quarter results in late May, buoyed by strong VNB and AUM figures and further supported by robust policy sales—including a record-breaking 588,107 policies sold within 24 hours on January 20, 2025, earning a Guinness World Record. The strong performance led analysts to maintain their optimistic outlook on the company's growth prospects, with ICICI Securities expecting the stock to reach ₹ 1,040, while Geojit Financial Services projects it to rise to ₹ 1,088. Both have 'buy' ratings on the stock. Meanwhile, the stock remains tightly held, with 96.5% ownership still with the government. Retail shareholders held a 2.1% stake in the company at the end of the March 2025 quarter. The company is still not in compliance with SEBI's minimum public shareholding (MPS) norm, which requires promoter holding to be brought down to 75%. Market participants cite a regulatory clause as the reason for the delay, Section 19(a) of the Securities Contracts (Regulation) Rules, 1957, which allows the government to extend the compliance deadline for listed PSUs. In July 2024, the government extended the deadline for PSUs to become MPS-compliant by two years, pushing it to August 2026. The extension was necessitated as the earlier deadline was set to end on August 1, 2024. Anshul Jain, Head of Research at Lakshmishree Investments, said, "LIC is shaping up a classic cup and handle pattern that's been developing for 127 days, backed by steady accumulation on daily charts, a clear sign of underlying strength. A decisive breakout above 980 could unlock fresh momentum, pushing the stock swiftly towards the 1,100 mark. Traders should keep an eye on volume confirmation during the breakout to gauge conviction. This setup shows that LIC might be ready for a strong leg up if market conditions hold steady." Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.


Mint
5 days ago
- Business
- Mint
IDFC First Bank share price dips after 4 straight sessions of rise: Should you buy or sell the stock?
Stock Market Today: IDFC First Bank share price declined slightly in the morning trades on Wednesday after having risen for 3 straight sessions. Should you buy or sell the stock? IDFC First Bank share price has been on the rise in the recent past, having risen more than 12% in the last month. The IDFC First Bank share price, which had ended with gains during the past 3 straight sessions, however, saw some decline on Wednesday in the opening trades. IDFC First Bank share price opened at ₹ 77.46 on the BSE on Wednesday, slightly higher than the previous day's closing price of ₹ 77.24, though it gained slightly to the ₹ 77.50 level. IDFC First Bank share price, however, dipped to the ₹ 76.83 level thereafter. Analysts remain positive on IDFC First Bank, and Investec has upgrades the stock recently as it feels operating leverage is a powerful earnings driver Investec sees IDFC First Bank delivering 29% compound annual growth (CAGR) in core pre-provision operating profit, or PPOP CAGR, over FY25-28 (highest across banks), aided by ~80 basis point reduction in cost-to-assets. This, combined with a ~90 bps decline in credit cost from elevated levels over FY25-28 (estimated), should help drive 1.3% RoA by FY28 (vs 0.5% in FY25) and sector-leading 57% Earnings per share CAGR, as per Investec IDFC First Bank shares have broken out of a bullish 184-day-long rounding bottom pattern and is now heading towards the crucial weekly swing high of ₹ 84.5—a key trend changer level on the weekly charts, said Anshul Jain, Head of Research at Lakshmishree Investment. A decisive breach and sustain above ₹ 84.5 will shift the structure from mildly bullish to strongly bullish, paving the way for the stock to target its all-time highs in the sessions ahead. Traders should watch for strong volume confirmation to build conviction as the stock approaches this critical level, added Jain. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.


Mint
7 days ago
- Business
- Mint
Global markets today: J-10 fighter jet maker AVIC Chengdu share price surges 10% after Israel-Iran ceasefire
Avic Chengdu Aircraft share price: The shares of J-10 fighter jet maker — AVIC Chengdu Aircraft — rallied nearly 10% in intraday trade on Monday, June 30, extending their gains to the fourth straight session, buoyed by the Iran-Israel ceasefire and rally in Chinese defence stocks. The Chinese defence sector rallied 3.8% to its highest since November, boosting onshore shares, a Reuters report said. The gains in the defence stocks came even as the Chinese stock market turned lacklustre. At the midday trading break, China's blue-chip CSI300 Index was little changed at 3,922.29 after gaining 2% last week. AVIC Chengdu Aircraft shares opened at 83.80 yuan apiece, slightly higher than the last closing price of 82.20 yuan. The Chinese defence stock extended gains to the day's high of 90.30 yuan as the session progressed, nearing its 52-week high of 97.55 yuan. The J-10 fighter jet maker's stock has been in an uptrend following the Iran-Israel ceasefire last week. The stock has added almost 11.5% in the last four sessions. AVIC Chengdu Aircraft's stock is also slated to end June on a firm note, with an over 14% rise after a whopping 31% surge in May. The stock caught investor attention after the India-Pakistan conflict. The Pakistan Air Force deployed the J-10 fighter jet against India, although it failed to make an impact against India's military prowess. Anshul Jain, Head of Research at Lakshmishree Investments, expects the Chinese defence stock AVIC Chengdu to hit new highs on a breakout above 89 yuan. 'AVIC Chengdu on the weekly chart is forming a 28-day-long rounding bottom pattern and is poised for a bullish breakout if it closes above 89. A sustained close above this level could push the stock towards an immediate target of 104 in the coming weeks,' the analyst said. Jain, however, added that volumes so far have been slightly lacklustre, making it important to watch for a breakout supported by strong, above-average volumes to build conviction. If that happens, fresh longs can be confidently accumulated for further upside with a favourable risk-reward setup, he opined. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.


Mint
27-06-2025
- Business
- Mint
Adani Group Shares: Adani Total Gas share price jumps 7%; rises 12% in five days
Adani Group Share Price: Adani Total Gas share price surged over 7% on Friday, marking its fifth consecutive session of gains amid strong buying interest. The Adani Group stock rose as much as 7.48% to ₹ 694.00 apiece on the BSE. The recent uptrend has led to a 12.5% rally in Adani Total Gas shares over the past five trading sessions. The sharp rise in Adani Total Gas share price today was accompanied by a significant jump in trading volumes. On June 27, approximately 97 lakh shares changed hands on the stock exchanges — well above the one-week average of 21 lakh shares and the one-month average of 14 lakh shares. Adani Total Gas on June 25 announced a partnership with Jio-bp, the operating brand of Reliance BP Mobility Limited, to offer each other's fuels across select outlets. Under this partnership, select Adani Total Gas fuel outlets will offer Jiobp's high-performance liquid fuels (petrol and diesel), while select Jio-bp fuel outlets will integrate Adani Total Gas' CNG dispensing units, within ATGL's authorized Geographical Areas (GA). Adani Total Gas is a joint venture of Adani and TotalEnergies, while Jio-bp is a joint venture between Reliance Industries and bp. Adani Total Gas currently operates a network of ~650 CNG stations, while Jio-bp has a network of ~2000 outlets. The agreement covers both existing and future outlets of both partners. Adani Total Gas share price is forming a 104-day long cup and handle pattern, with the current momentum candle already attracting volumes over 500% of the 50-day average — an early signal of strong institutional interest, said Anshul Jain, Head of Research at Lakshmishree Investments. 'This surge in volume often precedes a breakout. For the breakout to confirm, Adani Total Gas stock price must breach and sustain above the key pivot of ₹ 710. If successful, bulls will likely target ₹ 781 in the near term. The setup is mature and a sustained move above resistance will trigger fresh momentum,' Jain said. Adani Total Gas share price has risen 1% in the past month and over 11% in the last three months. However, the Adani Group stock remains down 9% on a year-to-date (YTD) basis and has declined 24% over the past one year. Despite the recent volatility, Adani Total Gas share price has delivered multibagger returns over the long term — rising 313% in the last five years. At 12:35 PM, Adani Total Gas share price was trading 5.40% higher at ₹ 680.55 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.


Mint
23-06-2025
- Business
- Mint
Israel-Iran war: AVIC Chengdu share price edges higher despite Hormuz Straight close buzz
Israel-Iran war: Despite weak global market sentiments post-US attacks in Iran, J-10 fighter jet maker company AVIC Chengdu Aircraft Limited remained under the bull's radar. AVIC Chengdu share price edges higher during Monday deals despite fear of Hormuz Straight closure. AVIC Chengdu's share price today opened upside at 84 yuan per share and touched an intraday high of 85.04 yuan per share. However, AVIC Chengdu shares witnessed some profit booking and came down to 84.20 yuan per share levels. According to stock market experts, AVIC Chengdu's share price witnessed some selling pressure after the outbreak of the Israel-Iran war last week and came close to 80 yuan per share. However, AVIC Chengdu's share price sustained above its strong support base, standing at 79 yuan per share. So, bulls are betting high on the stock after the stock showed some resilience at the lower support despite high tension in the Middle East. They said that AVIC Chengdu's share price may go up to 105 yuan per share levels once the stock closes above 86 yuan per share. Speaking on the technical outlook of AVIC Chengdu share price, Anshul Jain, Head of Research at Lakshmishree Investment, said, "AVIC Chengdu share price broke out of an 18-day cup and handle pattern that is part of a larger flag formation, triggering a bullish signal at 86 yuan per share. The stock must hold above the key support zone at 79 for the breakout to sustain. A swift move toward 105 yuan per share is highly likely if this level holds. The broader structure indicates consolidation within strength, and any volume expansion will further support the bullish continuation." The Pentagon on Sunday announced that the US launched Operation Midnight Hammer and conducted "precision strikes" at three of Iran's key nuclear facilities, including Fordow, Natanz, and Isfahan. Iran's Ambassador to India, Iraj Elahi, has slammed Israel and the US, stating that both countries have gravely violated the UN Charter, international law, and the Treaty on the Non-Proliferation of Nuclear Weapons (NPT) by attacking Iran's peaceful nuclear facilities. He said that the governments of the US and Israel are fully responsible for the "hazardous consequences of this grave crime." After the US airstrikes in Iran, the Iranian government threatened to close the Hormuz Straight, which is fueling crude oil prices, as the closure would negatively impact the demand-supply constraint. "The United States and Zionist regime have committed a grave violation of the UN Charter, international law, and the NPT by attacking Iran's peaceful nuclear facilities. The aggressive US government and the Zionist regime are held fully responsible for the hazardous consequences of this grave crime," Elahi said. Iraj Elahi said that Iran expects the United Nations and its responsible members to condemn the US and Israel for their military actions against nuclear facilities. Speaking on the developments in the Israel-Iran war, Morgan Stanley Chief Economic Strategist Ellen Zentner said, "With the US economy already expected to slow under pressure from the Trump administration's high import tariffs, a rise in oil prices resulting from the conflict "could provide powerful downward pressure on households' ability to spend... and that could slow GDP even more." (With inputs from ANI, Reuters)