Best Stocks to Buy Today : 06/10/21

Day Trading: GNFC, GSFC, Gujarat Alkalies, VRL Logistics, Valiant Organics, Shiva Texyarn, Arvind fashions, Patel Engineering, IG Petrochem, TCM

Short Term: Vodafone, Suzlon Energy, Yes Bank, GM Breweries, IRCTC, ICICI Lombard,

Long Term: ONGC, Indusind Bank, Coal India, IOC, Bharti Airtel, Titan Company, HCL Tech, Reliance

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Top Market News:

1. Moody’s Investors Service on Tuesday changed its outlook on India’s sovereign ratings to stable from negative. However, it retained the ratings, both on foreign and domestic currencies, at the lowest investment grade. Experts said this would have a beneficial impact on debt allocations by foreign portfolio investors (FPIs) to Indian papers. Business Standard
2. The National Company Law Tribunal (NCLT) on Tuesday directed Zee Entertainment Enterprises to submit reply on a petition filed by Invesco and OFI Global China by Thursday. Business Standard
3. A mid-size Chinese real estate developer failed to make a $205.7 million payment due to bondholders Tuesday, adding to the industry’s financial strain as one of China’s biggest developers tries to avoid defaulting on billions of dollars of debt. Business Standard
4. Mining giant Vedanta Group will look to bid for buying the government’s stake in Hindustan Copper Ltd as and when the state-owned firm is put up for privatisation, its billionaire founder Anil Agarwal said. Business Standard
5. Wall Street ended sharply higher on Tuesday, as Microsoft and Apple spearheaded a strong rebound in growth stocks and investors awaited monthly payrolls data later this week that could influence the U. S. Federal Reserve’s decision on when to scale back monetary stimulus. Business Standard

Google Trends

• China said to shelve ambitions for an anti sanctions law in Hong Kong after executive from Chinese and HK financials raised concerns that it would put them in a difficult situation.
• Automotive SaaS platform, Tekion has raised $250 million Series D funding from Alkeon Capital and Durable Capital.
• Oil prices jumped on Tuesday, with US crude hitting its highest since 2014 and Brent futures climbing to a three-year high, after the Opec+ group of producers stuck to its planned output increase rather than raising it further.
• Private sector lender HDFC Bank reported a 15.4 per cent growth in advances to ₹ 11.98 lakh crore as of September 30, 2021 from ₹ 10.38 lakh crore a year ago.
• Kotak Mahindra Bank has received approval from the government for collection of direct and indirect taxes, such as income tax, Goods and Services Tax (GST) etc, through its banking network.

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