News

Stock market today: Live updates

Published

10 months ago

12 June, 2024

FinCrypto Staff

22 Mins Ago

Apple retakes the crown as world’s most valuable company, surpassing Microsoft

Jakub Porzycki | Nurphoto | Getty Images

Apple once again became the world’s most valuable company, edging out Microsoft on Wednesday morning after reaching a market cap of $3.244 trillion.

The smartphone maker unveiled its new artificial intelligence features, called Apple Intelligence, during its developers conference keynote on Monday. The company announced it would integrate generative AI technology across its native apps and its latest devices, with plans to implement features such as writing-assistance technology.

Analysts walked away from the conference optimistic that Apple’s AI efforts could lead to a new, and long-anticipated, iPhone upgrade cycle. BTIG said Tuesday that Apple looks poised to beat Nvidia and the rest of the “Magnificent Seven” batch of Big Tech stocks from here.

For more, read here.

— Pia Singh

55 Mins Ago

New York Stock Exchange advancers lead decliners 7-1

Wednesday’s early rally showed strong breadth, with the bulk of New York Stock Exchange-listed stocks trading higher. As of 10:30 a.m. ET, more than seven stocks traded higher for every decliner at the NYSE. Overall, 2,337 names were up, while only 322 slipped.

— Fred Imbert

55 Mins Ago

Doubleheader CPI and Fed days are typically positive for market, data shows

Traders work on the floor of the New York Stock Exchange during morning trading on June 12, 2024 in New York City.

Michael M. Santiago | Getty Images

Days like Wednesday where there is both a Federal Reserve policy meeting and consumer price index report are typically good for stocks, according to Oppenheimer’s sales and trading team.

There has only been 13 occurrences in the past 15 years when both have taken place on the same day. On the average session of these 13, the market rose 0.7%.

— Alex Harring

An Hour Ago

Bitcoin climbs toward $70,000 after cool CPI reading

The price of bitcoin rose more than 3% Wednesday morning after the Bureau of Labor Statistics reported the consumer price index held flat in May.

“How you’re seeing the market respond today is indicative that even the slightest cooling of the CPI and inflation is enough to make the market believe rate cuts are coming in the near future,” said Chris Kline, co-founder and chief operating officer of BitcoinIRA. “This expectation is driving up prices of all assets, including bitcoin.

“That said, these moves offset pullbacks from last week,” he added. “I would expect the real breakouts for bitcoin to happen later this summer as the lagging halving effect kicks in.”

Crypto-related equities rose with bitcoin and the broader market for risk assets. Coinbase added 4% and MicroStrategy gained 7%. Miners across the board were higher, too, although Riot Platforms and CleanSpark saw some of the biggest gains at more than 6% each.

— Tanaya Macheel

An Hour Ago

CPI data gives Fed ‘all clear’ to signal two cuts in 2024, Wolfe says

U.S. Federal Reserve Chair Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., May 1, 2024.

Kevin Lamarque | Reuters

The consumer price index reading for May gives Federal Reserve Chair Jerome Powell the “all clear” to signal two interest rate cuts this year, according to Wolfe Research.

“Our expectation is that he’ll maintain a very dovish tone,” chief investment strategist Chris Senyek told clients in a Wednesday note ahead of the Fed meeting at 2 p.m. Wednesday. “This should favor the Mag 7 and the secular growers generally, as economic data continues to come in choppy over the remainder of the summer.”

May’s CPI data came in flat on the month and increased 3.3% from one year ago. The measure was expected to show a 0.1% increase from April, which would have equated to an aggregate annual rise of 3.4%.

The cooler-than-expected inflation data “keeps the ‘Fed Put’ firmly in place,” he said. This means that the market still expects the central bank to “step in and cut at the first signs of real economic weakness.”

— Sean Conlon

2 Hours Ago

Citron Research is no longer shorting GameStop

Andrew Left’s Citron Research said it is no longer shorting meme stock GameStop after the video game retailer raised billions of dollars in a stock sale to take advantage of the recent trading craze.

“It’s not because we believe in a turnaround for the company fundamentals will ever happen, but with $4 billion in the bank, they have enough runway to appease their cult like shareholders,” the firm said in a post on social media site X on Wednesday.

Citron shorted the stock again when meme stock champion and trader Roaring Kitty resurfaced online. More than three years ago, the short seller had quit short selling altogether after getting burned by its GameStop bearish bet in the retail trading mania.

— Yun Li

2 Hours Ago

A cooler inflation report adds to confidence the first rate cut is ‘rapidly approaching,’ investor says

A cooler inflation report adds to confidence the first rate cut from the Federal Reserve could come sooner, rather than later, according to Charlie Ripley, senior investment strategist at Allianz Investment Management.

“As we hear from the Fed later today, today’s inflation data should be another feather in the cap for Chairman Powell and raise the confidence for the rest of the voting members,” Ripley wrote. “More importantly, as we look further out on the calendar, the distance from here to the first rate cut of the cycle appears to be rapidly approaching.”

— Sarah Min

3 Hours Ago

Stocks open higher after cool inflation report

Traders work on the floor of the New York Stock Exchange during morning trading on June 12, 2024.

Michael M. Santiago | Getty Images

May’s cooler-than-expected inflation report sent stocks higher for Wednesday’s market open.

The S&P 500 added 0.9% while the Nasdaq Composite increased 1.1%, with both indexes opening at new record highs. The Dow Jones Industrial Average added 334 points, or 0.9%.

— Lisa Kailai Han

3 Hours Ago

Treasury yields fall sharply after CPI report

U.S. Treasury yields fell sharply Wednesday morning after the consumer price index report showed that inflation was unchanged month over month in May.

The 10-year Treasury yield fell 11 basis points to 4.293%. The 2-year Treasury yield sank 13 basis points to 4.701%.

Yields move opposite of bond prices, and a basis point is equal to 0.01 percentage points.

The move could be a sign that traders think the cool inflation report is making it more likely that the Federal Reserve will cut rates this year.

— Jesse Pound

4 Hours Ago

Consumer prices unchanged in May

Customers shops at a Target store in Miami, Florida, on May 20, 2024.

Joe Raedle | Getty Images

The consumer price index came in cooler than expected, giving stock futures a boost on hope that inflation pressures are easing.

CPI was unchanged in May month over month and up 3.3% from a year earlier. Economists polled by Dow Jones expected CPI to rise 0.1% month over month and 3.4% year on year.

Core CPI, which strips out food and energy prices, was also cooler than forecast, rising just 0.2% month on month. Core prices were expected to have increased 0.3%.

— Fred Imbert

4 Hours Ago

Stocks making the biggest premarket moves

Here are some of the stocks making the biggest moves before the bell:

Paramount Global — The stock shed 3.3% after National Amusements stopped talks with Skydance on a proposed merger with Paramount, per CNBC’s David Faber.
Oracle — Shares jumped 7.4% after the cloud services company announced deals with Google and OpenAI. Oracle expects to make its database available to Google Cloud beginning in November, and also planned to partner with Microsoft and OpenAI for additional computing capacity.
Birkenstock — The stock slipped 2.6% following a downgrade to neutral from buy at Goldman Sachs. The bank said shares, which are up about 21% year to date, have outperformed the broader luxury peer group.

To see more names moving in the premarket, read the full story here.

— Michelle Fox

4 Hours Ago

Wednesday’s economic developments will set tone for markets in the near term, UBS says

Tourists pay at a food cart in New York City on June 11, 2024.

Adam Gray | Getty Images

While investors are largely in agreement that the Federal Reserve will leave rates unchanged on Wednesday, it’ll still be a pivotal day to set the near-term tone for the market, according to UBS.

Starting in the morning with May’s consumer price index reading, investors will be looking for evidence that costs and inflation is coming down, the bank wrote.

But “the most concrete metric for investors will be the quarterly release of the dot plot—which charts the interest rate predictions of top Fed officials,” the bank said. “A dot plot that only narrowly avoids a decline to one implied rate cut would likely cause more anxiety, as it would suggest a more hawkish tilt to policy.”

UBS is still forecasting that the U.S. central bank will cut rates twice this year, with the first taking place in September.

— Lisa Kailai Han

5 Hours Ago

Weekly mortgage application volume surges nearly 16%

Data from the Mortgage Bankers Association showed total mortgage application volume surged 16% relative to the week prior as rates fell slightly.

“Lower rates earlier in the week meant a strong increase in refinance activity, particularly for VA borrowers, who jumped on the chance to lower their rates,” said Mike Fratantoni, MBA’s senior vice president and chief economist.

— Fred Imbert, Diana Olick

9 Hours Ago

European markets open higher

European markets opened higher on Wednesday, with most sectors starting the day in the green.

The pan-European Stoxx 600 was up 0.35% at 8:14 a.m. London time. Banks led gains and were last up 0.84%, while autos stocks dropped 0.78%.

The U.K.’s FTSE 100 was last up 0.56%, while France’s CAC 40 rose 0.35% and Germany’s DAX was 0.39% higher.

— Sophie Kiderlin

18 Hours Ago

DoubleLine Gundlach says Fed’s dot plot will show 2 cuts for 2024

Jeffrey Gundlach

Adam Jeffery | CNBC

DoubleLine Capital CEO Jeffrey Gundlach believes the Federal Reserve’s so-called dot plot will show a projection of only two rate cuts for this year, he said in an investor webcast Tuesday after the bell.

That would be down from the previous forecast of three interest rate cuts indicated for 2024.

The dot plot indicates how 19 FOMC members, both voters and nonvoters, expect where rates would be through the end of the year and out to 2026 and beyond.

The noted fixed income investor previously said he sees no more than one interest rate cut this year as the Fed continues to fight inflation.

— Yun Li

18 Hours Ago

Oracle, Rentokil among stocks making biggest after-hours moves

A pedestrian walks by Oracle headquarters on March 11, 2024 in Redwood Shores, California.

Justin Sullivan | Getty Images

Check out the companies making headlines in after-hours trading:

Oracle — The tech company’s shares jumped nearly 9% after it announced cloud deals with Google and OpenAI, despite posting a miss on fiscal fourth-quarter results. Oracle posted adjusted earnings of $1.63 per share on revenue of $14.29 billion, while analysts expected earnings of $1.65 per share on $14.55 billion in revenue.
Rubrik — Shares of the cloud data management company advanced 1.4% after beating first-quarter expectations on revenue. Rubrik reported $187 million in revenue for the period, while analysts polled by LSEG anticipated $172 million.
Rentokil Initial — Shares in Terminix-parent Rentokil jumped about 7.5% after Nelson Peltz’s Trian Partners confirmed it has taken a significant position in the pest-control giant and is currently a top-10 shareholder of the company.

For more, read here.

— Pia Singh

18 Hours Ago

Stock futures open little changed Tuesday night

Stock futures were slightly lower shortly after 6 p.m. ET. S&P 500 and Nasdaq 100 futures traded lower by 0.05% and 0.09%, respectively. Dow futures slipped just below the flatline, meanwhile.

— Pia Singh

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News

Breakfast on Wall Street: The Week Ahead

Published

9 months ago

14 July, 2024

FinCrypto Staff

The spotlight next week will shift somewhat to the Federal Reserve’s second-quarter earnings season and monetary policy. Market watchers will be treated to results from several major names, including Dow 30 components Goldman Sachs (GS), UnitedHealth (UNH), Johnson & Johnson (JNJ) and American Express (AXP), along with streaming giant Netflix (NFLX).

The Fed will still attract some attention as investors will be eager to hear from a packed lineup of central bank speakers just before the policy meeting lockout period.

In terms of the economic calendar, after fifteen days of labor market and inflation indicators, activity data will gain momentum in the form of the latest retail sales and industrial production reports.

Earnings Highlight: Monday, July 15 – Goldman Sachs (GS) and BlackRock (Black). See the full earnings calendar.

Earnings Highlight: Tuesday, July 16 – UnitedHealth (UNH), Bank of America (BAC), Progressive (PGR), Morgan Stanley (IN), PNC Financial (PNC) and JB Hunt Transport (JBHT). See the full earnings calendar.

Earnings Highlight: Wednesday, July 17 – Johnson & Johnson (JNJ), US Bancorp (USB), Morgan Children (KMI), United Airlines (UAL) and Ally Financial (ALLY). See the full earnings calendar.

Earnings Highlight: Thursday, July 18 – Netflix (NFLX), Abbott Laboratories (ABT), Black stone (BX), Domino’s pizza (ZDP) and Taiwan Semiconductor Manufacturing (TSM). See the full earnings calendar.

Earnings Highlight: Friday, July 19 – American Express (AXP), Halliburton (THANKS) and Travelers (VRT (return to recoverable value)) See the full earnings calendar.

IPO Observation: Hospital and healthcare clinic operator Ardent Health Partners (TARDT), insurance service provider Twfg (TWFG) and the biotechnology company Lirum Therapeutics (LRTX) are expected to price their IPOs and begin trading next week. The analyst quiet period ends at Rectitude (RECT) to free up analysts to publish ratings.

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News

Trump shooting: Gold could hit record high, dollar and cryptocurrencies set to jump

Published

9 months ago

14 July, 2024

FinCrypto Staff

Police cars outside the residence of Thomas Matthew Crooks, the alleged shooter at a Trump rally on Saturday, investigate the area in Pennsylvania. In the aftermath of the incident, one rally attendee was killed, two rally attendees are in critical condition and Donald Trump suffered a non-fatal gunshot wound. The shooter is dead after being killed by the United States Secret Service. (Photo by Kyle Mazza/Anadolu via Getty Images)

Police cars outside the residence of Thomas Matthew Crooks, the suspected shooter at a Trump rally on Saturday, investigate the area in Pennsylvania. Following the incident, one rally attendee was killed, two rally attendees are in critical condition and Donald Trump suffered a non-fatal gunshot wound. The shooter is dead after being shot dead by the United States Secret Service. (Photo by Kyle Mazza/Anadolu via Getty Images)

Investors will initially favor traditional safe-haven assets and may lean toward trades more closely tied to former President Donald Trump’s chances of winning the White House after he survived an assassination attempt, according to market watchers.

“There will undoubtedly be some protectionist or safe-haven flows into Asia early this morning,” said Nick Twidale, chief market analyst at ATFX Global Markets. “I suspect gold could test all-time highs, we’ll see the yen being bought and the dollar, and flows into Treasuries as well.”

Early market commentary suggested Trump’s shooting at a rally in Pennsylvania on Saturday could also prompt traders to increase his likelihood of success in the November election. His support for looser fiscal policy and higher tariffs is generally seen as likely to benefit the dollar and weaken Treasuries.

An indicator of market sentiment heading into the weekend: Bitcoin surged above $60,000, likely reflecting Trump’s pro-crypto stance.

Other assets positively linked to the so-called Trump trade include stocks of energy companies, private prisons, credit card companies and health insurers.

Traders will also be closely watching market measures of expected volatility on Monday, such as those in the tariff-sensitive Chinese yuan and Mexican peso, which have begun to price in the U.S. vote.

Trump said he was shot in the right ear after a shooting at his rally. His campaign said in a statement that he was “fine” after the incident, which prompted him to rush off the stage.

“Currencies will be the first major market on Monday in Asia to react to the weekend’s shots. There’s potential for extra volatility, and getting a clear reading could be especially difficult because liquidity will be hurt by Japan’s national holiday,” said Garfield Reynolds, Asia team leader for Bloomberg Markets Live.

Strategists had already expected a volatile run-up to the election, particularly as Democrats are still agonizing over President Joe Biden’s candidacy after his poor performance in last month’s debate raised questions about his age. Investors were also grappling with the possibility that the election could end in a drawn-out dispute or political violence.

But there is little precedent for events like those in Pennsylvania. When President Ronald Reagan was shot four decades ago, the stock market plunged before closing early. The next day, March 31, 1981, the S&P 500 rose more than 1% and benchmark 10-year Treasury yields fell 9 basis points to 13.13%, according to data compiled by Bloomberg.

Bond investors should pay particular attention as the attack is likely to boost Trump’s election chances and ultimately lead to concerns about the fiscal outlook, according to Marko Papic, chief strategist at California-based BCA Research Inc.

“The bond market must at some point become aware of President Trump’s greater chances of winning the White House than any of his rivals,” Papic wrote. “And I continue to believe that as his chances increase, so too must the likelihood of a bond market revolt.”

Kyle Rodda, senior financial markets analyst at Capital.com, said he was seeing client flows into Bitcoin and gold following the shooting.

“This news marks a turning point in American policy norms,” he said. “For markets, it means safe-haven trades, but more tilted toward non-traditional safe-havens.”

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News

Latest Business News Live Updates Today, July 11, 2024

Published

9 months ago

14 July, 2024

FinCrypto Staff

Latest Business News Live Updates Today, July 11, 2024

Follow us for stories on Bill Gates, Elon Musk, Mukesh Ambani, Gautam Adani as we bring you everything that’s happening in the business world. Follow the latest gold and silver prices here too. Stay in the know on all things business with us.

Latest news on July 11, 2024: Airtel says its new Xstream Fiber plans bundle over 350 live TV channels (Official Photo) (Reuters) Disclaimer: This is an AI-generated live blog and has not been edited by Hindustan Times staff.

Follow all the updates here:

Thu, 11 Jul 2024 08:44 PM

Business News LIVE Updates: Decoding Airtel’s new Xstream Fiber packages, finding value with Live TV and OTT
- Airtel confirms to HT that the live TV proposition is being delivered using its DTH network, while the bundled streaming subscriptions are an extension of its Xstream Play platform.
Read the full story here
Thu, 11 Jul 2024 03:58 PM

Business News LIVE Updates: TCS Q1 results meet estimates: Net profit up 9%, ₹10 dividend declared
- TCS’s consolidated revenue rose 5.4% to Rs 626.13 billion in the June quarter. Analysts had expected revenue of Rs 622.07 billion, as per LSEG data.
Read the full story here
Thu, 11 Jul 2024 03:51 PM

Business News LIVE Updates: Indian companies falsified generic Viagra data to get approval, says US FDA: Report
- Synapse Labs Pvt. Ltd may have been used in hundreds of drugs that are still available for sale, the report said.
Read the full story here

Thu, 11 Jul 2024 03:09 PM

LIVE Business News Updates: Namita Thapar’s emotional post on Emcure IPO listing: ‘Mirza Ghalib sums up my feelings’
- Emcure Pharmaceuticals was listed at ₹1,325.05, up 31.45% on the BSE and NSE on July 10.
Read the full story here
Thu, 11 Jul 2024 02:39 PM

LIVE business news updates: Amazon could face investigation over treatment of UK food suppliers, watchdog says
- An Amazon spokesperson said the company has made several improvements for food suppliers since last year’s results.
Read the full story here
Thu, 11 Jul 2024 01:39 PM

LIVE Business News Updates: This Bengaluru company aims to launch a ‘space habitat’ by 2027, in talks with SpaceX
- AkashaLabdhi calls itself a “home among the stars” as it says the company’s area of expertise is signal processing and continuous automation.
Read the full story here

Thu, 11 Jul 2024 01:10 PM

Business News LIVE Updates: Amazon India employees on working conditions: Made to stand for hours, bathroom breaks not allowed
- A survey conducted by UNI Global Union with the Amazon India Workers Association had 1,838 participants who alleged appalling working conditions at Amazon facilities in India.
Read the full story here
Thu, 11 Jul 2024 12:44 PM

LIVE Business News Updates: UK overhauls listing rules in bid to attract IPOs to London: What has changed?
- The new rules allow companies to carry out more activities without putting them to a shareholder vote, the UK’s Financial Conduct Authority said.
Read the full story here
Thu, 11 Jul 2024 12:18 PM

Business News LIVE Updates: Want to send money abroad? Open foreign currency accounts at GIFT City
- Foreign currency accounts will be like a bank account in India, but instead of rupees, you hold foreign currency like US dollars.
Read the full story here

Thu, 11 Jul 2024 11:30 AM

Business News LIVE Updates: First Abu Dhabi Bank denies interest in acquiring stake in Yes Bank: Report
- The report said the Yes Bank stake sale has attracted interest from Japan, including Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc.
Read the full story here
Thu, 11 Jul 2024 11:04 AM

LIVE Business News Updates: TCS Share Price Surges Ahead of Q1 Results: What Brokers Say About the Stock
- TCS Share Price: The stock opened at ₹3,944.65 against its previous close of ₹3,909.90. It then rose 1.8 percent to ₹3,979.90 level.
Read the full story here
Thu, 11 Jul 2024 10:22 AM

LIVE Business News Updates: Reliance Jio IPO listing likely in 2025 at $112 billion valuation: Jefferies
- Jio “could list at a valuation of $112 billion” and add “7-15 percent upside” to Reliance Industries’ share price, Jefferies said.
Read the full story here

Thu, 11 Jul 2024 09:42 AM

LIVE Business News Updates: Yes Bank shares rise after Moody’s revises outlook to ‘positive’ from ‘stable’
- Global rating agency Moody’s has raised its outlook on Yes Bank to positive from “stable” despite expectations of a gradual improvement in its depositor base.
Read the full story here
Thu, 11 Jul 2024 09:16 AM

Business News LIVE Updates: Sahaj Solar IPO opens today: All you need to know before subscribing to the issue
- Sahaj Solar IPO: The block issue aims to raise ₹52.56 crore through issuance of 2.92 million new shares and will close on July 15.
Read the full story here
Thu, 11 Jul 2024 08:40 AM

LIVE Business News Updates: Why Analysts Believe India’s Earnings Season May Disappoint Stock Market Investors
- Investors in Indian stocks hoping for a robust earnings season to justify expensive valuations are likely to be disappointed.
Read the full story here

Thu, 11 Jul 2024 08:35 AM

LIVE Business News Updates: Elon Musk Says Second Neuralink Brain Implant Will ‘Give People Superpowers’ Within a Week
- Elon Musk said Neuralink will make some changes to try to alleviate the problem of its electrode wires retracting from brain tissue.
Read the full story here
Thu, 11 Jul 2024 07:59 AM

LIVE Business News Updates: Apple warns Indian iPhone users of possible Pegasus-like ‘spyware attack’
- In April this year, the Indian Computer Emergency Response Team (Cert-In) flagged several vulnerabilities in Apple’s operating system for iPhone and iPad.
Read the full story here
Thu, 11 Jul 2024 07:45 AM

Business News LIVE Updates: US stock markets at record highs led by world’s biggest tech companies
- The Philadelphia Semiconductor Index rose 2.4% to a record high after Taiwan Semiconductor Manufacturing Co. reported strong quarterly revenue.
Read the full story here

News / Business / Latest Business News Live Updates Today, July 11, 2024

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News

Jio Financial share price: Should you buy this Reliance group stock on Monday ahead of Q1 FY2024 results?

Published

9 months ago

14 July, 2024

FinCrypto Staff

Jio Financial share price: Should you buy this Reliance group stock on Monday ahead of Q1 FY2024 results?

Q1 2024 Results: Jio Financial Share Price will be in focus on Monday as the Reliance Group company has a fixed board meeting on July 15, 2024 to consider and approve the company’s unaudited standalone and consolidated financial results. Trust Group company informed about the Q1 2024 Results date on Wednesday last week via an exchange filing. According to stock market experts, Jio Financial Services Limited is poised to deliver impressive Q1 results for FY25 on solid operating income. They have forecast a healthy QoQ PAT for the company in Q1 FY25.

Jio Financial Services News

Speaking on the Jio Financial Services Q1 2024 results, Manish Chowdhury, Head of Research, StoxBox, said, “We believe Jio Financial Services is poised to deliver impressive results in Q1FY25 aided by its operating income, which is likely to show robust growth driven by strong investment income, which in turn should lead to healthy PAT growth on a sequential basis. Jio Financial Services continues to make strategic moves such as launching digital products and expanding its ecosystem, with a clear focus on future growth. The company has announced plans to introduce products for lending against stocks and mutual funds, leveraging Jio’s large user base, which could be a significant growth driver in the coming quarters.”

“Furthermore, with the NBFC receiving RBI approval to become a primary investment company, Jio Financial Services is well-positioned to unlock value from its investments. Overall, we expect the company to report robust numbers in the upcoming quarter,” the StoxBox expert added.

Jio Financial Stock Target Price

Speaking about the technical outlook of Jio Financial share price, Ganesh Dongre, Senior Manager, Technical Research at Anand Rathi, said, “Jio Financial Services share price is poised to make a fresh high at the ₹260 apiece level. If the stock breaks above this mark, the Reliance Group stock could make a fresh high by touching the ₹290-₹295 zone. Hence, those with Jio Finance stock in their portfolio are advised to stick to the script by keeping a stop loss at ₹205. If the stock breaks above ₹260 decisively, then one can upgrade the stop loss at ₹240 for the near-term target of ₹295.”

On the advice to new buyers regarding Jio Financial stock, Ganesh Dongre said, “New buyers are advised to wait for the breakout. Once the stock breaks above ₹260, one can buy this Reliance Group stock at the short term target of ₹295, keeping a stop loss of ₹240 apiece.”

Disclaimer: The views and recommendations made above are those of individual analysts or brokerage firms, and not of Mint. Investors are advised to consult with certified experts before making any investment decisions.

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