Share Markets Live: Sensex, Nifty Hold Gains; Maruti Leads Autos Higher

Shares of the travel company gained as much as 5% after broking firm Anand Rathi initiated coverage on the online travel agency with a ‘buy’ rating.

The brokerage cited the company’s strong presence in the growing online ticketing market in India, lean business model, strong management, stronger balance sheet along with profitable growth outlook as reasons for the bullish rating.

It set a target price of Rs 475, implying a potential upside of 21%.

Reliance Industries Ltd. has had an action-packed last fiscal as the nation’s largest company by market value raised Rs 2.6 lakh crore ($36 billion) by selling stakes in its retail and digital assets, turning net debt free. Still, the stock lagged the benchmark. And that’s what investors hope owner Mukesh Ambani would address in the firm’s latest annual general meeting.

The street expects the oil-to-telecom conglomerate in its June 24 AGM to announce product launches and chart strategic road map for initiatives such as e-commerce to 5G rollout and net zero carbon mentioned in its annual report of 2020-21.

Shares of the oil-to-telecom conglomerate has risen 21.3% from its last AGM on July 15, 2020 so far, while the S&P BSE Sensex advanced 45.83% during the period.

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Maruti Suzuki India Ltd. rose 2.9%. Trading volume was quadruple the average for this time of day.

• The stock was the best performer among its peers.

• Trading volume was 252,735 shares, quadruple the 20-day average of 69,031 shares for this time of day.

• Analysts have 31 buy, six hold, and 12 sell recommendations on the stock.

• The price target of Rs 7,416.30 represents a 4.5% increase from the last price