Market Bizzz

The U.S. Federal Reserve should cut interest rates by a full percentage point, President Donald Trump said on Friday as he reiterated his view that Fed Chair Jerome Powell has been too slow to lower borrowing costs.

Indian Renewable Energy Development Agency (IREDA) has launched a QIP to raise up to Rs 5,000 crore. The board has set the floor price at Rs 173.83 per share with a possible 5% discount. IREDA posted strong Q4 earnings with a 49% rise in net profit and continues to attract positive analyst attention despite a mixed yearly performance.

“RSI trending up” means that the Relative Strength Index (RSI) values are increasing, suggesting strengthening momentum in the price of the stock.

InCred Capital booked profits in Adani Port and exited Cipla due to margin concerns, while introducing Camlin Life Science, anticipating stabilization and benefits from anti-dumping duties. They remain neutral on IT and consumer staples, favoring autos and high-end consumption plays like Ethos and TCPL Packaging. Despite tepid Nifty 50 earnings growth, mid and smallcaps show promise.

Six Nifty500 stocks, including Indegene, Star Health, and JSW Steel, slipped below their 200-day moving averages on June 4, signalling a potential downtrend and bearish market sentiment for these shares.

Morgan Stanley’s Jonathan Garner highlights India’s robust economic resurgence, driven by strong GDP growth and easing monetary policies. He emphasizes India’s distinct position among emerging markets, fueled by superior earnings growth and increasing weight in global equity indices. Garner notes that global fund managers are compelled to allocate towards India, recognizing it as a key global equity destination.

KEC International, the RPG Group’s infrastructure arm, secured fresh orders worth Rs 2,211 crore across multiple segments, including Transmission & Distribution, Oil & Gas Pipelines, and Cables. With a strong international order book and a 40% year-to-date growth in orders, analysts maintain a ‘Buy’ rating with a target price of Rs 972, indicating 10% upside from current levels.

Indian companies have reported better-than-expected earnings, with growth spread across various sectors like energy and BFSI. Tariff clarity and global capital flows are crucial for future growth. BFSI benefits from double-digit nominal GDP growth, strong credit demand, and increased domestic savings boosting capital markets. Company-specific performance remains key in the Indian market.

Under the agreement, Wipro will assist Entrust in expanding operations and speeding up growth by offering services in product development, infrastructure management, and application modernisation. Wipro will enhance application security by using advanced analytics to detect vulnerabilities and provide actionable insights for smarter software development.