Highlights

  • Auto Index higher supported by the Maruti Suzuki, Hero MotoCorp, Ashok Leyland
  • Realty stocks rise in anticipation of sops from Budget

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Top Market Headlines: Sensex at 60,000 Nifty reclaims 18000, Maruti zooms while Paytm gets punished

Realty, Auto and Bank indices up 1-2 percent. BSE midcap and smallcap indices are trading higher

Sensex soars back to 60,000 and Nifty reclaimed 18000 in trade as bulls take early charge on Monday as the run-up to the Union Budget 2022-23 continues.

Here are the top market headlines and stocks making the move-:

• Maruti: Biggest gainer on the Index as a strong launch line-up seems to be enthusing the market. Reports indicate India's biggest car maker has lined up more than half a dozen launches this year.

• Realty rises: Expectations of sops in the upcoming Union Budget is keeping real estate stocks buoyed. The industry has asked for an increase in homebuyers’ tax benefits limit from the FM

• KPIT Tech: This stock continues it's one way ride, up 10 times since it's pandemic lows. Goldman Sachs initiated coverage with a BUY and sees a 75% upside still in the stock.

Also Read: Budget 2022: From classification to taxes will cryptocurrency finally get clarity?

Paytm: Trading already a record low , Macquarie continues ‘Underperform’ rating on the payments stock and cut its target price by 25% to Rs 900 apiece vs current price of ~ Rs 1200/share

• SBI Cards: Stock under pressure as Goldman Sachs initiates coverage with a Sell call on the stock with a target of Rs 695/share. This marks a 30% downside from current price.

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