Sensex inches closer to 26000; top 20 trading ideas for rallying markets
NEW DELHI: The S&P BSE Sensex surged as much as 234 points higher in trade on Tuesday, led by gains in Reliance Industries, HDFC Bank, Bharti AirtelBSE 3.84 % and ITC.
Reliance Industries Ltd is a 'BUY' call with a target of Rs 1040 and a stop loss of Rs 999
Lupin Ltd is a 'BUY' call with a target of Rs 1135 and a stop loss of Rs 1084
JSW Steel Ltd is a 'BUY' call with a target of Rs 87 and a stop loss of Rs 77
Asian Paints Ltd is a 'BUY' call with a target of Rs 625 and a stop loss of Rs 593
Telecom stocks gain on spectrum rules, Idea results
Shares in telecom operators gained after Idea Cellular's April-June profit beat estimates and after the sector regulator issued guidelines for mobile phone spectrum sharing between carriers that is seen benefiting the bigger incumbents.
Idea Cellular's shares jumped after first-quarter profit rose 57 per cent to Rs 72,800 crore($120.8 million), beating consensus estimates due to a rebound in voice as well as data realisations without any pressure on volumes, traders say.
Spectrum sharing can be useful for big operators that are either facing or could face network capacity issues, analysts say.
Idea CellularBSE 4.40 % were up 2.4 per cent, Bharti AirtelBSE 3.71 % were up 3.2 per cent while Reliance CommunicationsBSE 3.45 % were up 1.4 per cent.
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