Share Market Live - Smallcap and midcap index of BSE is trading flat. On the other hand, the Bank and Capital Goods index is seeing a gain of 0.5 percent, while the Pharma index is showing a decline of 0.5 percent.
NSE Scam
The Securities and Exchange Board of India (Sebi) has everything it takes to trace the identity of the 'Yogi' who is at the center of the National Stock Exchange (NSE) scam. In fact, with the help of CBI, the market regular can find this yogi in just 10 to 15 days by taking a constable from a nearby police station along with him. Nishant Singh, a cyber forensics expert has said this.
Singh is the Director of Forensic Investigation and Consultancy Services and has been regularly called upon as expert witness in court cases involving private and government entities. His company has investigated frauds in cooperative banks, audited software used by Delhi Police Academies and conducted forensic investigations for multinational advisories such as PwC.
Market recovery from lower levels
The market is trading at the peak of the day. Nifty has improved 150 points from lower levels and has come above 17 thousand 350. Banking-finance, capital goods, auto and power stocks are supporting the market. Nifty Bank recovers by 500 points from DAY LOW but midcap index is trading flat. Meanwhile, metal stocks are shining in a sluggish market. Nifty Metal Index has recovered from the decline of 2 days. So far this month, it has jumped about 7 percent. However, selling pressure is being seen in pharma, IT and FMCG stocks today.
Attractive dividend of this PSU stock caught the attention of investors, brokerage expects up to 40% increase
State-owned Coal India Limited has posted a profit of Rs 4,558 crore during the quarter ended December 31, 2021. In the third quarter, the company's profit has seen a growth of 48 percent on a year-on-year basis. The increase in the profits of the company has been attributed to the increase in its earnings. Along with this, the company's board has also approved the second interim dividend of Rs 5 per share for the financial year 2021-22. This government company had paid an interim dividend of Rs 9 per share even before the announcement of this dividend. Which means that the company has declared a total dividend of Rs 14 per share so far in the year 2022. ICICI Securities believes that right now the company can declare a final dividend of Rs 4 per share.
ICICI Securities has given a target of Rs 234 for the stock while maintaining Buy rating of Coal India. The brokerage house believes that 40 percent upside can be seen in this stock from the current level.
ICICI Securities in its note issued on Coal India has further said that due to high thermal power play load factor, there will be an increase in the demand for domestic coal. Apart from this, increase in e-auction volume and premium will be seen due to increase in international coal prices. Due to which the performance of Coal India can be better in the fourth quarter of FY 2022.
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