GAIL bags SAP Award for Financial Innovation
GAIL (India) Limited, the state-owned natural gas company, has won the SAP ACE Award 2024 for Best Financial Transformation for the second consecutive year. The award, received by GAIL Director (Finance) R K Jain, recognises the company’s digital transformation of…
Broker’s call: SignatureGlobal (Buy) – The Hindu BusinessLine
Target: ₹2,007 CMP: ₹1,303.20 SignatureGlobal India had delivered 63 per cent sales booking CAGR over FY21-24, largely via affordable/mid-income housing projects. It has now achieved H1FY25 sales bookings of ₹5,900 crore driven by the launch of its Titanium project in…
Broker’s call: Affle India (Buy)
Target: ₹2,538 CMP: ₹1,579.95 In Q2 FY25, Affle (India) reported a strong topline growth of 26 per cent y-o-y, delivering 95 million conversions at a CPCU rate of ₹57.1. This resulted in CPCU revenue of ₹541.60 crore, reflecting an increase…
Technical Analysis: DCM Shriram, One 97 Communications, Uno Minda
DCM Shriram (₹1,302.85) Positive momentum seen The stock of DCM Shriram has been appreciating gradually ever since it found support at ₹750 in April 2023. The chart shows that it has been moving across a broad rising channel. Over the past…
NTPC Green IPO to open on November 19, can be subscribed for long term gains: SBI Securities
The Initial Public Offering (IPO) of NTPC Green Energy Ltd (NGEL) is set to open on November 19. SBI Securities in its latest report says, given the company’s robust growth potential, analysts recommend subscribing to the IPO at the cut-off…
Markets tank over 10% from record highs amid FII exodus, weak Q2 earnings, elevated valuations
Benchmark indices Sensex and Nifty after smashing many record peaks this year, slipped into a correction mode, with the NSE key gauge falling over 10 per cent from its record high hit in September amid concerns of foreign investors fleeing…
CIEL HR: Files initial IPO papers for ₹450 cr offer today
Chennai-based CIEL HR Services Ltd. (CIEL HR), which provides technology-driven HR solutions, plans to file for an initial public offering (IPO) today, expected to raise around ₹450 crore, according to industry sources. The public offer is expected to comprise a…
Stock Market Holiday on 15 November: BSE, NSE closed for Guru Nanak Jayanthi
Both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) will remain closed on Friday, November 15, on account of Guru Nanak Jayanthi. All trading activities — including equity, equity derivatives, and securities lending and borrowing (SLB) segments —…
Sundrop maker Agro Tech Foods acquires Del Monte India unit
Agro Tech Foods Limited (ATFL), known for brands like ACT II popcorn and Sundrop oils, announced today its acquisition of Del Monte Foods Private Limited (DMFPL) in India, along with plans to rebrand itself as Sundrop Brands. The deal, subject…
Nifty slumps 10% from peak, Bank Nifty weekly contracts bid adieu
Benchmark indices fell for the fifth straight session on Wednesday, entering correction territory, amid a sharp surge in domestic inflation, firm dollar and rising US bond yields. Wednesday also marked the end of of the popular trading instrument – Bank…
Mid-day updates: Markets deepen losses as metals, auto stocks drag; Sensex down nearly 500 points
Equity benchmarks extended their losing streak to the fifth straight session on Wednesday, with the Sensex falling 494.03 points to 78,181.15 and the Nifty declining 180.75 points to 23,702.70 by mid-day trading. The market sentiment remained bearish following higher-than-expected domestic…
Broker’s call: Doms Ind (Buy)
Target: ₹3,100 CMP: ₹2,677.90 Doms Industries has reported another strong quarter amid a slowdown in the broader consumption space. Its Q2-FY25 revenue/EBITDA/PAT growth at 20/32/43 per cent y-o-y were ahead of BNP Paribas expectation. We raise our FY25-27E EPS by…
Sagility India shares: Debut 3.53% higher against the issue price of ₹30.
Shares of Sagility India Ltd, a technology-enabled services provider in the healthcare space, on Tuesday listed with a premium of 3.53 per cent against the issue price of ₹30. The stock made its debut at ₹31.06, up 3.53 per cent…
Qualified brokers to provide clients UPI block or 3-in-1 trading account from February 1
SEBI has asked qualified stock brokers (QSBs) to provide their clients trading supported by blocked amount in the cash segment using the UPI block mechanism or the 3-in-1 trading account, in addition to the current mode of trading, from February…
Alembic Pharma gets USFDA nod for generic heart medication
Alembic Pharmaceuticals Limited announced today it has received final approval from the US Food & Drug Administration (USFDA) for its generic version of Diltiazem Hydrochloride Extended-Release Capsules. The approval covers five dosage strengths: 120 mg, 180 mg, 240 mg, 300…
Swiggy IPO oversubscribed by 3.59x led by QIBs, employees
Food delivery and grocery major Swiggy’s initial public offering has been oversubscribed by 3.59 times after a tepid response in the first two days. The qualified institutional buyers (QIBs) portion was booked 6.02 times — the highest, NII portion…
Broker’s call: Aadhar Housing (Buy)
Target: ₹600 CMP: ₹459.15 Aadhar Housing Finance (Aadhar) delivered a strong quarter with a PAT beat of 9 per cent JMFe at ₹230 crore (+15 per cent y-o-y, 13.7 per cent q-o-q) driven by: strong AUM growth of (+5 per…
FPIs sell ₹19,994 crore in Indian equities in 6 trading sessions
Foreign Portfolio Investors (FPIs) continued their selling in the Indian equity markets, recording net outflows of ₹19,994 crore in just the six trading sessions so far in November 2024. For the first time this calendar year, FPI net investments turned…
Broker’s call: Aptus Value Housing Fin (Buy)
Target: ₹430 CMP: ₹338.15 Aptus Value Housing Finance reported earnings of ₹180 crore (in line with our estimates), up 23 per cent y-o-y and 6 per cent q-o-q. AUM was up +27 per cent y-o-y, within the guided range of…
Specified Digital Platform: Concept lacks clarity
The new breed of un-registered ‘finfluencers’ indulging in malpractices such as paid promotion, front-running, duping investors through fancy products have been on the rise. Through social media channels they not only rob gullible investors but also put the trading system…
Reliance Industries loses $50 billion on earnings dismay
Reliance Industries Ltd has erased almost $50 billion in market capitalisation since its peak in July as the most valuable Indian firm struggles with weakening earnings and an economic slowdown. Shares of the refining-to-retail conglomerate led by billionaire Mukesh Ambani…
Revisiting SEBI Chairperson selection: M Damodaran advocates for enhanced autonomy
M Damodaran, Chairperson of Excellence Enablers and Former Chairman of SEBI, has made a case for revisiting the r selection and appointment process for persons in regulatory positions. According to him, nothing in law prevents a person from the private…
Niva Bupa Health IPO opens today at ₹70-74 price band
Niva Bupa Health Insurance Company has fixed the price band of ₹70-74 a share for its forthcoming IPO that will open on November 7 and close on November 11. The IPO is a mix of fresh issue of up to…
Promoters and PE investors ramp up sell-downs in Indian stocks, doubling deal value to $67 billion in 2024
The relentless selling by foreign portfolio investors in Indian equities has not deterred promoters, private equity investors and other investors from monetising their stakes in companies and sell-downs through bulk and block deals have doubled in 2024 year to date…
The mega ₹11,327 crore Swiggy IPO opens today at ₹371-390 price band
The much-awaited Swiggy’s initial public offering opens to public today. The IPO targets ₹11,327.43 crore through a combination of fresh issue worth ₹4,499 crore and offer for sale of 17.51 crore shares worth ₹6,828.43 crore. The IPO, priced at ₹371-390,…
Broker’s call: MPS (Buy) – The Hindu BusinessLine
Target: ₹3,112 CMP: ₹2,053.90 In Q2-FY25, MPS reported a revenue growth of about 37 per cent on a y-o-y basis alongside a sharp recovery in the overall EBITDA margins by 739 bps on a q-o-q basis. Revenue growth was driven…
Markets may open flat to negative owing to US presidential elections
Domestic markets are likely to open with a downward bias on Tuesday amid mixed global cues ahead of the US poll outcome. Nandish Shah, Senior Derivative & Technical Research Analyst, HDFC Securities, said: Investors geared up for a busy week…
NSE net profit at ₹3,137 cr in Q2, up 57% y-o-y
NSE posted a consolidated net profit of ₹3,137 crore for the quarter ended September, up 57 per cent year-on-year. Total income grew 25 per cent to ₹5,023 crore. Apart from trading, revenue from operations was supported by other revenue lines…
Afcons Infrastructureshares are slated to be listed today.
Shares of Afcons Infrastructure will be listed on the bourses today. The company has fixed the IPO price at ₹463 at the upper end of the ₹440-463 price band. The initial public offering (IPO) of Afcons Infrastructure, the flagship infrastructure,…
US presidential election, Fed interest rate decision, FIIs trading key market movers this week: Analysts
The November 5 US presidential elections, Federal Reserve interest rate decision, trading activity of foreign investors, and the upcoming quarterly earnings from domestic firms are the major triggers that would influence sentiments in the Indian equity market this week, analysts…
SBI MF becomes first to surpass ₹10 lakh crore AUM, outpacing ICICI and HDFC
Thanks to the robust collection through new fund offers and steady market rally, the average asset under management of the country’s largest fund house, SBI Mutual Fund, jumped 11 per cent in the September quarter to ₹10.99 lakh crore, up…
Technical Analysis: Infibeam Avenues, HFCL, Oil India, NGL Fine-Chem
I have shares of Infibeam Avenues. My purchase price is ₹42. Should I continue to hold or exit with loss? Rahul Infibeam Avenues (₹29.25): The stock has come down sharply after making a high of ₹41 this year. On the…
Concern over rise in valuations as 34 Nifty companies report muted profit growth in Q2
The lingering concern on market valuations has aggravated with 34 Nifty companies reporting flat net profit, while their sales have grown 5 per cent, with EBITDA growth of just one per cent. As of October-end, 34 of the 50 Nifty…
Sensex jumps 448 points, Nifty surges above 24,300 in Muhurat session
The benchmark BSE Sensex rose nearly 448 points in the early session of the special Muhurat trading on across-the-board buying by investors to mark the start of the new Samvat Year 2081. The 30-share index increased 447.90 points or 0.56…
Yatharth Hospitals expands Delhi-NCR presence with two strategic acquisitions
The shares of Yatharth Hospital and Trauma Care Services Ltd were trading at ₹661.80 down by ₹9.20 or 1.37 per cent on the NSE today at 2.45 pm. Yatharth Hospital and Trauma Care Services Ltd announced on October 30…
Sensex, Nifty end lower as IT stocks lead market decline
Indian equity benchmarks closed lower on Thursday, dragged down by heavy selling in technology stocks, with the BSE Sensex falling 553.12 points and the NSE Nifty declining by 135.50 points amid weak global cues and monthly derivatives expiry. The…
SEBI to cut draft SID display on its website to 5 days
Capital market regulator SEBI has proposed to stop uploading scheme information documents (SIDs) on NFOs on its website in draft format and make it public only after its observations are passed. It also wants to keep the window for seeking…
Sagility India sets IPO price band at ₹28-30 ahead of November 5 launch
Sagility India Ltd, a provider of technology-enabled business solutions and services, has set a price band of ₹28 to ₹30 per equity share, with a face value of ₹10 each for its ₹2,107-crore initial public offering scheduled for November 5….
Stock Market Live Updates Today 30 October 2024: Stock to buy today: ICICI Securities (₹882.30): BUY
Eli Lilly (Pre market) (Sector- Healthcare) AbbVie (Pre market) (Sector- Healthcare) Caterpillar (Pre market) (Sector- Capital Goods) ADP (Pre market) (Sector- Technology) UBS Group (Pre market) (Sector- Financials) Trane Technologies (Pre market) (Sector- Technology) GSK plc DRC (Pre market) (Sector-…
What analysts predict for Samvat 2081
Samvat 2081, a New Hindu calendar year that begins on the auspicious festival day of Diwali, may lack the fireworks that is normally associated with the festival. Every year, brokerages come out with sector-specific stock picks or thematic recommendations during…
Share Market Live Updates October 29, 2024:
Home Markets Updated – October 29, 2024 at 06:59 AM. Sensex, Nifty, Share Prices LIVE: The short-term outlook is bullish for Rainbow Children’s Medicare. The stock has begun the week by surging over 5 per cent on Monday breaking above…
Sensex surges past 80,000 mark after five-day decline
The BSE Sensex rebounded sharply on Monday, climbing back above the psychological 80,000 level after five consecutive sessions of losses, as strong bank earnings and easing oil prices boosted investor sentiment. The 30-share index closed at 80,005.04, gaining 602.75 points…
Share Market Live Updates Today October 28, 2024: Sensex, Nifty 50 in the last leg of correction
tock Market today| Share Market Live Updates – Find here all the live updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for October 28, 2024 ALL UPDATES October 28, 2024 07:01 WATCH: Nifty and Bank…
Swiggy cuts IPO valuation again to $11.3 billion; BlackRock and CPPIB to invest, sources say
Indian food delivery giant Swiggy has slashed its IPO valuation again, to $11.3 billion, 25 per cent below the initial goal of $15 billion as market volatility and the lacklustre debut of Hyundai India weigh on sentiment, two sources said…
Technical Analysis: Crompton Greaves Consumer Electricals, Inox Wind and Trent
Crompton Greaves Consumer Electricals (₹392.25) Confirms Head & Shoulder The stock of Crompton Greaves Consumer Electricals, after marking a high of ₹483.65 in early September, has been on a steady downtrend. An attempt for a recovery a couple of weeks ago…
FIIs sold ₹20,024 crore of equities this week, drags Nifty, Sensex by about 2.5%
Foreign institutional investors (FIIs) have pulled out a massive ₹20,024 crore from Indian equities this week alone, resulting in a 2.5 per cent dip in the key stock indices, Nifty and Sensex. Data from the National Stock Exchange (NSE) shows…
FPI selling in cash market tops ₹1 lakh crore
Indices fell for the fifth straight session on Friday to near two and half month lows amid relentless selling by foreign portfolio investors (FPIs), weak second quarter results and rising treasury yields in the US. FPI selloff in the cash…
Markets tumble as IndusInd Bank plunges 18%, dragging indices lower
Indian equity benchmarks are extending their losing streak for the fifth consecutive session on Thursday, with the BSE Sensex falling over 700 points by afternoon trading amid broad-based selling pressure and weak global cues. The 30-share BSE Sensex was trading…
AIFs grapple with land bordering rules even as SEBI eases norms
SEBI’s recent circular on investments from land bordering countries through alternative investment funds (AIFs) may add another layer of complexity in the manner in which Press Note 3 (PN3) norms are interpreted for such funds. PN3, issued in 2020 by…
Ashok Leyland unit secures 500 e-bus order from Chennai’s MTC, shares advances
Ashok Leyland’s subsidiary OHM Global Mobility has won a contract to supply and operate 500 electric buses for Chennai’s Metropolitan Transport Corporation (MTC), the company announced on October 24, 2024. The 12-year contract includes 400 non-AC and 100 AC buses….
FPIs selling crosses $10 b in October
Foreign portfolio investors (FPIs) continued their record selling spree, offloading shares worth ₹5,684 crore on Wednesday. This takes the total selloff for the month of October to $10.61 billion, data from NSDL showed. The early rally in IT stocks was…
Waaree Energies IPO subscription surges to 12.31 times on day 2
Waaree Energies Limited’s IPO witnessed robust demand on its second day of bidding, with overall subscription reaching 12.31 times the number of shares on offer, by noon on October 23. The issue received bids for 25.95 crore shares against 2.11…
SEBI whole-time member raises concern on F&O, SME IPO frenzy
A senior SEBI official reiterated the regulator’s concern on the increased retail participation in derivative products and SME IPOs. “Increased retail participation in derivative segment and other risky products is a matter of concern. While it signifies growing confidence among…
Ericsson, Wipro complete major cloud billing migration for Dutch telecom Odido
Ericsson and Wipro Limited have successfully migrated 5 million Odido mobile customers in the Netherlands to a cloud-native billing platform, the companies announced today. The migration to Ericsson Billing, hosted on Amazon Web Services (AWS), was completed in August 2024…
Equity Scheme Returns from NPS soften amid Nifty50 correction in October
A sharp 1,000 points fall in benchmark Nifty50 since October 1 has weighed in on the annual return generated by pension funds on NPS monies parked in equity schemes. As against an annual return of near 40 percent recorded as…
Neobrands launched ‘Akkord’: Budget-friendly musical instruments starts at ₹1,799
RattanIndia Enterprises’ subsidiary Neobrands Limited launched Akkord, a new musical instruments brand, on Monday with products priced as low as ₹1,799. The brand’s initial lineup includes guitars, ukuleles, and keyboards targeting both beginners and professional musicians. Also read: BSE, NSE…
Indel Money announces 5th public issue of NCDs
Indel Money Ltd, a non-deposit taking NBFC in the gold loan sector has announced the fifth public issue of Secured NCDs of face value of ₹1,000 each. The issue opens on Monday, October 21 and closes on November 4 with…
F&O Query: Should You Hold the Longs on Axis Bank Call Options?
I’m holding two lots of Axis Bank 1180-call options. Average buy price is ₹21. Should I hold or exit the trade? Vivek S Axis Bank (₹1,196.9): The stock of Axis Bank bounced off the support at ₹1,130 last week. It…
FPI selloff surges past $9.25 billion in October, ‘Sell India, Buy China’ trade set to persist
FPIs aggressively sold Indian equities, withdrawing a record ₹77,701 crore ($9.25 billion) up to October 18, depositories data showed. They have been net sellers in all 13 trading sessions this month. This marks a sharp contrast to September 2024, when…
NPPA slaps ₹6.32 lakh penalty on Torrent Pharma for Drug Pricing Violation, shares in green
The National Pharmaceutical Pricing Authority (NPPA) has issued a demand notice to Torrent Pharmaceuticals Limited for launching a new drug without prior price approval, imposing a penalty of ₹6,32,689. The notice, dated October 17, 2024, was issued under paragraph 15…
KIMS Hospitals inks ₹700-crore medical tech deal with Wipro GE Healthcare
Krishna Institute of Medical Sciences (KIMS) has signed a Memorandum of Understanding with Wipro GE Healthcare for medical technology procurement worth up to ₹700 crore. The three-year agreement, announced on October 18, 2024, will cover both new equipment and servicing…
Sensex, Nifty open lower as FII selling intensifies, middle east tensions weigh
Indian benchmark indices Sensex and Nifty opened lower on Friday, extending losses for the fourth consecutive session, as foreign institutional investors (FIIs) continued their selling spree amid escalating geopolitical tensions in the Middle East. The BSE Sensex opened at 80,749.26,…
Broker’s call: Engineers India (Buy)
Target: ₹250 CMP: ₹187.85 We upgrade Engineers India (EIL) to ‘Buy’ from ‘Accumulate’ given the recent correction in the stock price, with an unchanged SoTP-derived TP of ₹250, valuing the Consultancy/Turnkey segments at a P/E of 25x/10x on FY26. EIL…
Gujarat Fluorochemicals hit with Customs Duty demand
The shares of Gujarat Fluorochemicals Limited (GFL) were trading at ₹4,705.05, up by ₹29.90 or 0.64 per cent, on the NSE today at 10.15 am, a day after the company announced that it has received a customs duty demand of…
Sensex slides 319 points as markets extend losses amid global sell-off
Indian stock markets extended their losses on Wednesday, with the benchmark Sensex falling 318.76 points or 0.39 per cent to close at 81,501.36. The broader Nifty 50 index ended 86.05 points or 0.34 per cent lower at 24,971.30, slipping below…
SpiceJet shares rise following airline’s settlement of disputes with vendors
Shares of SpiceJet rose 1.16 per cent on Tuesday, reaching a high of ₹68. The stockhad climbed 3.4% earlier in the day. It recorded a low of ₹65.85. SpiceJet said it had resolved a $23.39 million dispute with Aircastle (Ireland)…
Stock Market Live Updates: Kalyan Jewellers India (₹751.10): BUY
Stock Market today | Share Market Live Updates – Find here all the live updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for October 15, 2024 ALL UPDATES October 15, 2024 07:11 Stock market live…
Broker’s Call: Bajaj Finance (Buy)
Target: ₹8,030 CMP: ₹7,209.95 Bajaj Finance (BAF) operates its business through 1,550-plus urban and over 2,600 rural lending branches, with over two lakh distribution points and caters to a customer base of 8.81 crore as of June 2024. In Q1FY25,…
Sensex, Nifty fall in early trade
Benchmark indices Sensex and Nifty fell in early trade on Friday amid volatility and mixed trends in global markets. The 30-share BSE Sensex opened on a negative note and slipped 62.90 points, or 0.08 per cent, to 81,548.51 in early…
Mcap of seven of top-10 most valued firms erode by ₹1.22 lakh cr; TCS, Reliance biggest laggards
The combined market valuation of seven of the top-10 most valued firms eroded by ₹1,22,107.11 crore last week, with Tata Consultancy Services and Reliance Industries emerging as the biggest laggards, in line with weak trend in equities. Last week, the…
Motilal Oswal launches Digital India Fund focused on tech and digital ecosystem growth
Motilal Oswal Asset Management Company (MOAMC) on Friday announced the launch of its latest fund offer, the Motilal Oswal Digital India Fund. The fund is an open-ended equity scheme investing in Digital Space, focusing on Technology, Telecom, Media, Entertainment, and…
Bigul unveils stock baskets feature for theme-based investing
Bigul, an innovative investment platform, has launched a new feature that allows investors to invest in a group of stocks based on specific themes. Bigul Stock Baskets allow customers to select from several themes or sector-specific baskets curated by research…
TCS shares dip 2% post-Q2 earnings announcement
Shares of Tata Consultancy Services (TCS) fell 2 per cent on Friday after its September quarter earnings failed to cheer investors. The scrip of the Mumbai-based company slipped 1.93 per cent to close at ₹4,146 apiece on the NSE. On…
Bandhan Bank shares surge 10% on RBI nod for Partha Sengupta as CEO
Shares of private lender Bandhan Bank rose over 10 per cent on Friday after the Reserve Bank of India approved the appointment of its new CEO, which analysts said would ensure management stability. The Reserve Bank of India on Thursday…
NSE to discontinue F&O weekly contracts on Bank Nifty, 2 others
After markets regulator SEBI’s directive to limit weekly expiries to one per exchange, the National Stock Exchange on Thursday announced that it will discontinue the weekly contracts on Bank Nifty, Nifty Midcap Select and Nifty Financial Services. The Bank Nifty…
Garuda Construction IPO: Closes today, generates strong response from HNIs and retail investors
The initial public offering of Garuda Construction and Engineering will close today for public subscription. The issue has generated a strong response from HNIs and retail investors. At the end of Day 2, the IPO was subscribed 4.10 times. The IPO…
Large offerings can end up as duds post listing
Hyundai Motor India’s initial public offering (IPO) will be the biggest till date, eclipsing the previous record set by State insurer LIC in 2022. Large offerings, however, have not fared all that well historically. Six of the top 10 offerings…
Mamaearth targets 100 crore ARR on Meesho, expands to Tier 3 markets, shares dip
Mamaearth, a leading Indian personal care brand, has partnered with e-commerce platform Meesho to expand its reach into Tier 3 and smaller markets. The collaboration, announced today, aims to increase Mamaearth’s Annual Recurring Revenue (ARR) on Meesho to 100 crore…
Online trucking platform Zinka Logistics Solutions gets SEBI nod for IPO
Trucking platform Zinka Logistics Solutions has received final observation from SEBI to raise funds through an initial public offering (IPO). It looks to raise ₹550 crore through a fresh issue of shares, with an offer for sale (OFS) of 21.6…
Sensex, Nifty rebound as mid-day trading shows market recovery
Indian stock markets staged a recovery in mid-day trading on Tuesday, breaking a six-day losing streak amid ongoing geopolitical tensions and economic uncertainties. As of 12.30 pm, the Sensex stood at 81,363.31, up 313.31 points or 0.39 per cent from…
Indices fall for 6th straight session amid FPI selloff
Indian equities fell for a sixth straight session amid tensions in West Asia and sustained selling by foreign investors, even as other Asian indices ended firmly in the green. Benchmark indices surged higher in early trade but erased gains soon…
Sensex, Nifty retreat from opening highs as midday selloff intensifies
Indian stock markets relinquished early gains on Monday, with the Sensex and Nifty both trading in negative territory by midday. After opening higher at 81,926.99, the Sensex dropped 305.94 points or 0.37% to 81,382.51 as of 12:43 pm. Similarly, the…
On ‘buy China, exit India’ mode, FPIs net sell ₹27,142-cr stocks from October 1 to 4
A sharp rally in Chinese equities last week has prompted Foreign Portfolio Investors (FPIs) to adopt a ‘Buy China, Sell India’ strategy in October, leading to the offloading of ₹30,718 crore in Indian equities over just three trading sessions. Data…
Technical Call: Quess Corp – BUY
Long-term investors can buy the shares of Quess Corp (₹744.40) at current levels. The stock has been in a strong uptrend since March last year. The surge above ₹700 in August has broken a strong long-term trendline resistance. The recent…
India Has Moved On, But Nifty Hasn’t!
When faced with a choice between choosing a weapon-less Lord Krishna and the most powerful army (Dwaraka army) in the world, Arjuna chooses the former. Consequently, Duryodhana is thrilled by Arjuna’s choice, as this would mean that the most powerful…
BSE’s Asia Index launches three new indices
Asia Index, a wholly-owned subsidiary of leading stock exchange BSE Ltd, on Friday announced the launch of three new indices — BSE Sensex Sixty 65: 35, BSE Sensex Sixty, BSE Power and Energy Index. These indices can be used for…
China rally damps India flows, with investors repositioning tactically
China seems to have gained at the expense of India when it comes to foreign flows. China funds cornered historic high flows of $6.2 billion this week, bringing total flows over the past two weeks to $7.2 billion. Foreign flows…
Cyient DLM acquires US-based Altek Electronics for $29.2 million
Cyient DLM Ltd, an Indian integrated electronics manufacturing company, has acquired the US-based Altek Electronics Inc, through its wholly-owned subsidiary Cyient DLM Inc. The deal, valued at up to $29.2 million, includes an upfront payment of $23.4 million and a…
Reliance Group partners with Bhutan’s DHI for major renewable energy projects, shares surge
The shares of Reliance Power, a subsidiary of Reliance Group, were trading at ₹53.64 up by ₹2.55 or 4.99 per cent on the NSE today at 11 am, a day after Reliance Group entered into a strategic partnership with Druk…
Bombay Stock Exchange Brokers’ Forum names Anup Gupta as chairman
Bombay Stock Exchange Brokers’ Forum (BBF) on Wednesday said it has appointed Anup Gupta as the chairman, succeeding Kishor Kansagra. The appointment has been effected from September 30, the Forum said in a statement. Gupta, who is a director of…
Broker’s call: Biocon (Buy) – The Hindu BusinessLine
Target: ₹496 CMP: ₹370.40 Integrated pharmaceutical major with capabilities across the value chain, Biocon is a leading integrated global pharmaceutical company with a comprehensive presence across the entire value chain, encompassing research and development (R&D), manufacturing, and marketing. The company…
Tata Steel Share Price Today Live Updates for July 16, 2024: Tata Steel stock rose over 1% in early trade
Tata Steel Stock/ Share Price Today Live Updates for July 16, 2024: Tata Steel trades among top gainers in Nifty 50 pack
Zee shareholders approve a ₹2,000-crore fundraise
Shareholders of Zee Entertainment Enterprises (ZEE) have passed the resolution for issuance of securities for an amount not exceeding ₹2,000 crore with requisite majority. Shareholder approval for the proposal comes nearly a month after the Zee board gave its in-principle…
HCL Technologies Share Price Today Live Updates 15 July 2024: HCL Technologies stock surges over 3% after Q1 results
HCL Technologies (HCLT IN) – Pritesh Thakkar, Research Analyst, Prabhudas Lilladher Pvt. Ltd. Rating: BUY | CMP: ₹1,560 | TP:₹1,790 Q1FY25 Result Update – Gearing up for growth from Q1 trough Quick Pointers: § Better-than-expected Q1 performance de-risking the path…
Quant MF appoints Kataria as CFO
Quant Mutual Fund, under SEBI lens in a front-running case, has appointed Shashi Kataria as Chief Financial Officer. He has taken charge from July 1, said the fund house in a communication to unitholders. Kataria has been appointed as Chief…
Mcap: 7 of top-10 most valued firms jump ₹1.72 lakh crore; TCS steals show
The combined market valuation of seven of the top-10 most valued firms jumped ₹1,72,225.62 crore last week, with IT bellwether Tata Consultancy Services (TCS) stealing the show, amid a rally in equities. Also read: TCS profits rise 8.8% to ₹12,105…
How NSE is preventing hard landing through collaterals
Whenever some restrictions are imposed by exchanges or regulators, market participants, especially day traders and retail investors, turn uncomfortable and raise questions on such moves. All the more so, when the market is in a bullish phase, as it is…
Broker’s call: HealthCare Global (Add)
Target: ₹410 CMP: ₹360.25 HealthCare Global Enterprises (HCG) is a market leader in 90 per cent cities where it has established presence. The company is operating at an occupancy of ~64% and has been scouting for acquisitions to expand its…
Broker’s call: Jupiter Wagons (Buy)
Target: ₹824 CMP: ₹696 Jupiter Wagons is positioned for substantial growth between FY25E-FY28E, driven by increased wagon production and a strategic diversification plan implemented by the management into segments like wheel manufacturing, brake systems & disc, E-LCV etc. At a…
TCS Share Price Today Live Updates 12 July: TCS stock surges 6% after Q1 profit rose 8.8%
ata Consultancy Services/ TCS Share Price Today Live Updates for July 12, 2024: Tata Consultancy Services stock opened among top gainers in the Nifty 50 pack on Friday’s trade. The company kicked off the first quarter of FY25 with an…
Stock Market Live Updates: – The Hindu BusinessLine
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Global markets rally to record high levels as investors expect positive US inflation data
Asian stocks rallied to record peaks on Thursday while sterling edged to a four-month high on strong growth figures, as traders counted down to US data that is expected to show inflation easing and pave the way for rate cuts…
Emcure Pharma, Bansal Wire end Day 1 of listing on strong note
Emcure Pharmaceuticals Ltd and Bansal Wire Industries on Wedneday made a fabulous listing with a premium of 31 per cent and 37 per cent, respectively. Against the IPO price of ₹1,008, the stock of the pharma major listed at ₹1,325.05…
Bansal Wire Industries IPO: Soars 39.4% listing on stock debut
Bansal Wire Industries, a steel wire products manufacturer, exceeded expectations with a robust debut on the stock exchanges. It opened at ₹356 per share—a notable 39.4 per cent increase from its issue price of ₹256. This impressive performance eclipsed the…
Prabhudas Lilladher’s Aqua PMS returns 76% in debut year
Aqua PMS has returned 76 per cent in its debut year, with an alpha of 37 per cent over the BSE 500, driving its assets under management (AUM) past the ₹340-crore mark. The strategy is run by PL Asset Management,…
Amid valuation concerns, HDFC Defence Fund stops new SIP registrations effective July 22
HDFC Mutual Fund will discontinue registering fresh systematic investment plans in its Defence Fund from July 22. The fund house will process only SIPs and systematic transactions registered before July 22. Last June, HDFC MF discontinued accepting lumpsum investments in…
Edelweiss Financial launches ₹100-crore NCD issue
Edelweiss Financial Services has launched a ₹100-crore non-convertible debentures issue with a green shoe option of another ₹100 crore, cumulatively aggregating up to ₹200 crore. The issue has 12 series of NCDs carrying fixed coupons and having a tenure of…
Tata Motors Jaguar Land Rover Q1 FY25: 5% increase in wholesales & 9% rise in retail volumes
SSL Research reports that Tata Motors’ Jaguar Land Rover (JLR) division saw a 5% year-on-year increase in wholesales to 97,755 units and a 9% rise in retail volumes to 111,180 units for the first quarter of FY25. The sales mix…
Equity markets to take cue from global trends this week: Analysts
Equity markets will take cues from global trends and trading activity of foreign investors, while in the latter part of the week the first quarter earnings from IT majors TCS and HCL Technologies would guide investor sentiments, analysts said. Markets…
Mcap: 8 of top-10 most-valued firms jumps ₹1.83 lakh cr; TCS, Infosys biggest gainers
Eight of the top-10 most valued firms together added ₹1,83,290.36 crore in market valuation last week, with IT majors Tata Consultancy Services (TCS) and Infosys emerging as the biggest gainers, in line with a rally in equities. Last week, the…
Indian equities attract nearly $1 billion FPI Inflows in early July 2024
Ahead of Modi 3.0 Government’s full budget on July 23, Foreign Portfolio Investors (FPI) continued to show strong buying interest in Indian equities with net inflows of ₹7,962 crore (near $1 billion) in the first week of July 2024, data…
India at cusp of major economic transformation: Marcellus
Marcellus Investment Managers, one of the leading portfolio management service providers, believes smartphones, active pharmaceutical ingredients (APIs) and medical devices to drive the next phase of growth and potentially contribute an additional $300 billion to Indian economy. The opportunity is…
Nephro Care makes 100% gain at NSE-SME listing
Shares of Nephro Care India on Friday made strong listing by gaining 90 per cent at ₹171 against the IPO price of ₹90. The stock rose further to end at ₹179.5, maximum permssible limit of 5 per cent from the…
HDFC Bank Share Price Today Live Updates 5 July 2024: HDFC Bank shares drop 4% after Q1 business update
DFC Bank Stock/ Share Price Today Live Updates July 5, 2024: HDFC Bank has reported a 52.6% year-on-year (y-o-y) jump in gross advances and 24.4% y-o-y growth in total deposits in Q1FY25. These figures take into account the impact of…
NSE to cap SME listing gains to 90% of issue price
The National Stock Exchange will apply a cap of 90 per cent to all small and medium enterprises (SME) stocks that list on its platform in a bid to restrict runaway gains and bring more stability to the opening price…
HUDCO Share Price Today Live Updates: HUDCO stock jumps 6%
HUDCO Stock/ Share Price Today Live Updates for July 4, 2024: HUDCO hits 52-week high
Bull run: Sensex tops 80,000 intra-day, Nifty at new high
The benchmark Sensex topped the 80,000 level for the first time on Thursday mirroring global cues. The 30-share gauge hit an intraday high of 80,074 before ending at 79,986, up 545 points or 0.69 per cent. Nifty was up 0.67…
Stock Market Top Gainers Today: HDFC Bank, Axis Bank, ICICI Bank, Sensex touches 80,000-mark
BSE Sensex has touched 80,000 mark on Wednesday’s early trade. Sensex traded at 79,983.23, higher by 541.78 pts or 0.68 per cent as at 10.32 a.m, and Nifty 50 traded at 24,277.20, up by 153.35 pts or 0.64 per cent….
Broker’s call: Coal India (Add)
Target: ₹495 CMP: ₹478.95 Coal India (CIL) posted stable June 2024 performance figures. Production was up 8.8 per cent y-o-y while despatches rose by a mere 5.1 per cent y-o-y. In Q1-FY25, despatches to the power sector grew 4 per…
Hindenburg says it made only $4 million by shorting Adani stocks & bonds
Hindenburg Research has said that contrary to claims made by Indian regulatory authorities that it had a massive financial windfall from its short position in Adani’s securities, it had made only $4 million in gross revenue. “We have made $4.1…
SEBI asks MIIs to halt slab-wise charges
SEBI on Monday directed market infrastructure institutions (MIIs) to stop levying slab-wise fee structures on members, a move that could especially impact the topline of discount brokers. The existing revenue model of brokers operates similar to that of a wholesale…
Sensex, Nifty trade firm amid buying in blue-chip stocks, rally in Asian equities
Equity benchmark indices climbed in early trade on Monday amid buying in blue-chip stocks like Reliance Industries and Bharti Airtel along with a rally in Asian markets. The 30-share BSE Sensex rose 69.63 points to 79,102.36 in early trade. The…
Brokerages favour telecom stocks: Jio’s tariff hike signals market shift
Brokerages have provided positive insights on the telecom sector following recent tariff hikes by Reliance Jio. CLSA notes the increase of 13-25 per cent in tariffs, keeping JioPhone plans unchanged. Jio’s tariffs now have a 15-21 per cent premium over…
Reliance Industries Share Price Highlights 28 June 2024: RIL hits ₹21-lakh cr mcap, gains over 2% on bullish analyst outlook
eliance Industries share price, Reliance Industries stock price updates: Find all the updates related to Reliance Industries share prices and major developments here. ALL UPDATES June 28, 2024 15:35 RIL Share Price Live Updates: Reliance Industries stock closed at ₹3,126.95…
Stanley Lifestyles makes strong stock market debut, but falls short of expectations
Stanley Lifestyles, a prominent luxury furniture brand in India, has made a significant debut on the stock exchanges, listing at ₹494.95 per share. This marks a gain of 34.13 per cent over its issue price of ₹369. Shivani Nyati, Head…
Broker’s call: Eureka Forbes (Buy)
Target: ₹610 CMP: ₹483.30 Eureka Forbes (EUREKAFO), in its first analyst meet post the demerger, articulated its long-term growth strategy. It expects growth to hinge on product innovation, premiumisation (better aesthetics/ features), penetration (in all channels), reduction in the cost…
Stanley Lifestyles makes warm listing
Shares of Stanley Lifestyles on Friday made a decent debut at the bourses by gaining 35 per cent over IPO price. Against the IPO price of ₹369, the stock was listed at ₹499 on the BSE, a premium of 35.23 per…
Nomura’s top cement stock picks: Shree Cement, Ultratech, Ramco Cements, and Nuvoco
Nomura identifies aggressive expansion targets and stronger balance sheets of major cement players as key drivers for sector consolidation. The current market conditions, reminiscent of FY14-17, indicate better pricing discipline. Ambuja and Ultratech are anticipated to lead this trend. Read…
Divine Power IPO subscribed 369x at NSE-Emerge
The IPO of Divine Power Energy (DPEL), a manufacturer of insulated wires and strips, was subscribed a whopping 369 times at NSE Emerge platform. The company has launched the ₹22.76-crore IPO at a price band of ₹36-40. The New Delhi-headquartered…
India Cements Share Price Today Live: UltraTech Cement to buy 23% stake in India Cements for ₹1,885 crore
UltraTech Cement, India Cements Share Price Today Live: UltraTech Cement, India’s top cement producer by capacity, said on Thursday it will buy a 23 per cent stake in India Cements for up to ₹1,885 crore (about $226 million). UltraTech said…
Stock market update: Top gainers / losers today; Reliance Industries, Bharti Airtel, Ultratech Cement, Grasim among top gainers
BSE Sensex climbed 620.73 pts or 0.80 per cent to close at 78,674.25 on Wednesday, and Nifty 50 was up 147.50 pts or 0.62 per cent to close at 23,868.80. Commenting on nifty outlook, Shrikant Chouhan, Head Equity Research, Kotak Securities,…
Stock market today: Sensex, Nifty trade low; Ultratech, ICICI Bank, NTPC, BPCL among top gainers
Benchmark indices declined in early trade after opening positive on Wednesday. BSE Sensex traded at 77,987.48, down by 66.04 pts or 0.08 per cent, and Nifty 50 traded at 23,696.65, down by 24.65 pts or 0.1 per cent as of 9.32…
Stanley Lifestyles IPO subscribed 97 times
The initial public offering of the Bengaluru-based Stanley Lifestyles was subscribed 96.98 times, thanks mainly to qualified institutional buyers and non-institutional investors (HNIs). The ₹537-crore IPO came out with a price band of ₹351-369. With a face value of ₹2, the…
JSW Steel USA to invest $110 million to upgrade manufacturing operations
JSW Steel USA, Inc. a subsidiary of JSW Steel Ltd., has announced its plan to invest $110 million in steel plate mill modernisation projects using sustainable technology and equipment within its manufacturing facilities in Baytown, Texas. These investments will enable…
Broker’s call: Ujjivan SFB (Add)
Target: ₹57 CMP: ₹45.85 Ujjivan Small Finance Bank hosted an analyst meet recently to showcase its asset verticals, liabilities and technology functions. With Mr Sanjeev Nautiyal expected to take charge as MD & CEO in July 2024, management reiterated its…
Adani Ports shares replace Wipro on BSE Sensex
Shares of Adani Ports & SEZ have been included for trading on BSE Sensex starting today, June 24, 2024, as part of the index rejig. The Adani Group stock has been replaced with Wipro. As of 10.26 am, Adani Ports…
Open to probe, regulations will help doing business: Axis My India chief on alleged stock market manipulation through exit polls
Facing opposition fire, for exit polls allegedly being used for stock market manipulation, Axis My India’s chief, Pradeep Gupta, has said, he is open to facing all kinds of investigations, and it would help do business in a much better…
FPIs pump ₹12,170 crore into Indian equities until June 21, reversing two-month selling trend
Reflecting optimism over the Modi 3.0 Government’s policy continuity, Foreign Portfolio Investors (FPIs) doubled down on their investments in Indian equities last week, becoming net buyers of ₹12,170 crore through June 21, official data showed. These net inflows contrasted with…
Small, mid-cap stock prices are running ahead of earnings
Small and mid-cap stocks are turning red-hot with the Narendra Modi-led NDA government forming government for the third consecutive terms. While the run-up in small-cap stock price has been giving sleep-less nights for regulators, the earnings of small companies have…
Unitech promoters cleared by SEBI in UBS fund transfer probe
The Securities and Exchange Board of India (SEBI) on Friday disposed of its investigation against Unitech’s erstwhile promoters, Sanjay Chandra and Ajay Chandra, in a matter related to the routing of funds to the Indian securities market using overseas bank accounts…
Pre-IPO lock-in periods ending for 46 firms, freeing up shares worth $12 billion
The pre-listing shareholder lock-in periods of 46 companies will be lifted between June 24 and September 30, potentially freeing up shares worth nearly $12 billion for secondary sales. The estimates are based on shareholder analysis for firms listed up to…
Stock market today: Nifty and Sensex edge higher amid consolidation, IT stocks lead gains
NSE nifty was up by 0.24 per cent, or 56.30 points to 23,609, while the BSE sensex was at 77,623, up by 0.19 per cent, or 144 points at 9.40 am Also read:Gift Nifty indicates flat opening for Nifty50 Dr….
SEBI bans JM Financial from managing debt securities till FY25
The market regulator, in a confirmatory order on Thursday, barred JM Financial from acting as a lead manager in any public issue of debt securities till March 31, 2025 or any further date which SEBI may specify. This will not…
SEBI asks Religare to apply for open offer before July 12
The Securities and Exchange Board of India has asked Religare Enterprises (REL) to seek statutory approvals necessary for an open offer by the Burman family by July 12. This comes after the Burman group alleged that the Religare board and…
Zomato plans to acquire Paytm movie business may add little on valuation front, say analysts
Zomato and Paytm have stated in their respective filings with the exchanges that they are in active discussions regarding the transfer of Paytm’s movies and events business to Zomato. However, both companies noted that there is currently no binding agreement…
Veefin expands supply chain finance platform with stake in Regime Tax Solutions
Veefin Solutions Ltd has acquired a stake in Mumbai-based Regime Tax Solutions. The move integrates Regime’s GST compliance and accounts automation solutions, TaxGenie and PayInvoice, with Veefin’s platform. The integration enables banks and financial institutions to offer a solution combining…
Akme Fintrade to raise ₹132 crore via IPO
Akme Fintrade (India), a leading non-banking finance company, plans to raise ₹132 crore through an initial public offering, which opens for subscription on June 19. The company will issue 11 lakh fresh equity shares in the price range of ₹114…
Hyundai Motor shares hit record high as investors bet on India IPO plan
Hyundai Motor Co’s shares hit a record high as investors bet on the South Korean automaker’s plan to list its India unit in Mumbai, which would help the company boost its presence in the world’s third biggest auto market. Shares…
Hyundai likely to file draft red herring prospectus with SEBI anytime now
Auto behemoth Hyundai Motor India Limited’s (HMIL) moved a step closer to an initial public offering (IPO) in the Indian market, with the company set to file its draft red herring prospectus (DRHP) with the Securities and Exchange Board of…
Stock market update: M&M, Shriram Finance, Adani Ports among top gainers
BSE Sensex closed at 76,992.77, up by 181.87 pts or 0.24 per cent, and Nifty 50 ended at 23,465.60, up by 66.70 pts or 0.29 per cent. Sectoral indices, except IT and media, closed in the positive territory. Nifty auto, healthcare…
New-age cos may turn to phantom stocks, warrants to reward founders
The market regulator’s expansive definition of promoters for companies going public may put them in a bind over how to reward founders. Since promoters are ineligible to be granted employee stock option plans (ESOPs), the new-age firms may turn to…
Sensex, Nifty today: Sugar stocks advance; Paytm, Sobha shares rally
BSE Sensex closed at 76,810.90, higher by 204.33 pts, or 0.27 per cent, and Nifty 50 ended at 23,398.90, up by 75.95 pts or 0.33 per cent on Thursday’s trade. Among the sectoral indices, media, FMCG and bank indices declined. Nifty…
Broker’s call: Gail India (Sell)
Target: ₹170 CMP: ₹216.95 In next 3-4 years, we expect India’s gas consumption to rise from 191mmscmd in FY24 to 218mmscmd. While GAIL’s transmission would grow by 8 per cent c in FY24-26, trading is expected to grow a tad…
Nifty trades at 23,400 level, Sensex jumps 450 pts
Nifty 50 rose by 149.70 pts or 0.64 per cent to trade at 23,414.55 as of 12.41 pm, and BSE Sensex jumped 455.41 pts or 0.60 per cent to trade at 76,912.00. All sectoral indices traded in the positive zone…
Broker’s call: SBI (Buy) – The Hindu BusinessLine
Target: ₹1,050 CMP: ₹835.25 State Bank of India has delivered a strong all-round performance for the past few years and has achieved new milestones in profitability (PAT surpassed ₹60,000 crore in FY24). The bank has demonstrated considerable improvements in underwriting…
Stock market: Top gainers and losers; ONGC, Tata Motors, Adani Ports emerge as top gainers; Reliance Industries decline
India’s equity benchmarks BSE Sensex and NSE Nifty closed on a flat note on Tuesday, tracking mixed global cues. While the Sensex closed 33.49 points, or 0.04%, lower at 76,456.59, the broader Nifty50 gained 5.65 points, or 0.02%, at 23,264.85….
Kronox Lab ends 18% higher on Day 1 of listing
Shares of Kronox Lab Sciences on Monday ended with a premium of 18 per cent at ₹159.35 against the issue price of ₹136 on the BSE. The shares were listed at ₹165, which is also day’s high and hit a…
MFs equity inflows up 83% in May on back of NFO
Inflows into the equity schemes of mutual funds increased 83 per cent last month, to ₹34,697 crore, against ₹18,917 crore in April, largely boosted by new fund offer of HDFC Mutual Fund, and investors using the volatility in the market,…
SEBI to tweak selection criteria for F&O stocks
SEBI plans to change the selection criteria for entry and exit of stocks in the derivatives market to reflect current market conditions. About two dozen of the 182 companies that are part of the F&O segment could see an exit…
APL Apollo Tubes’ promoter entity pares 1% stake for ₹485 crore
APL Infrastructure, promoter entity of APL Apollo Tubes, on Friday, pared a little over 1 per cent stake in the company, for ₹485 crore, through an open market transaction. Also read:APL Apollo plans Rs 100-cr tube unit in Gujarat According…
Election Results Turbulence: FPIs dump ₹17,794 crore in equities in June
Foreign Portfolio Investors (FPIs) continued to be net sellers of Indian equities in the first week of June, despite a market rebound from the 5.9 per cent crash of benchmark indices on Tuesday, due to the unexpected results on election…
Indices hit new highs on GDP revision, political stability
The bulls were firmly in control on Friday as higher GDP growth forecast, dovish commentary from RBI and hopes of political stability at the Centre took the benchmark indices to fresh all-time highs. Also read:Stock market today: Sensex hits all-time…
CMS Info turns ‘cash chips’ as stock doubles from IPO price
Shares of CMS Info Systems have been on the rise on on Friday hit an all-time high of ₹474.20 on the BSE, as analysts remained bullish on the stock due to its strong fundamentals, besides future growth potential. The stock…
Tata Consultancy Services introduces platform for cost-effective AI adoption, shares up
Tata Consultancy Services Ltd.’s shares were up by 2.02 per cent after the company announced the launch of TCS AI WisdomNextTM, a platform designed to aggregate Generative Artificial Intelligence services into a single interface. The platform aims to facilitate the…
Bajaj Housing Finance: Board approves IPO
The Board of Directors of Bajaj Housing Finance Ltd (BHFL) on Thursday approved an initial public offering (IPO) comprising fresh issue of equity shares of ₹10 each aggregating up to ₹4,000 crore and an offer for sale (OFS) of equity…
Persistent Systems launches GenAI hub, shares up
Persistent Systems introduced the GenAI Hub, a platform designed to accelerate the creation and deployment of Generative AI applications within enterprises. This platform integrates with existing organisational infrastructure, applications, and data, facilitating the rapid development of industry-specific GenAI solutions. The…
Sundaram Mutual launches business cycle fund
Sundaram Mutual believes the froth in the market is yet to settle after the dramatic fall of 6 per cent post the unexpected election outcome and subsequent bounceback of 3 per cent on Wednesday. Anand Radhakrishnan, CEO, Sundaram Mutual said…
Lok Sabha Election 2024 Results: Foreign Brokerages say BJP’s lower-than-expected victory to delay tough reforms but expect policy continuity
Foreign brokerages anticipate changes in economic policy dynamics, with tougher reforms being delayed due to Prime Minister Narendra Modi’s smaller-than-expected poll victory. However, they believe policy continuity on investment-led growth, Capex, infrastructure creation and manufacturing will be maintained under the…
Market voices post election outcome
Tanvee Gupta Jain, Chief Economist at UBS India After a weak political outcome, we believe investors will focus on: government formation and choice of prime ministerial candidate considering the BJP does not have a simple majority of its own. Will…
Datamatics secures spot in Gartner Magic Quadrant for third consecutive year
Datamatics Global Services Ltd secured its position in the 2024 Gartner Magic Quadrant for finance and accounting business process outsourcing for the third consecutive year. The company said that among the 18 vendors evaluated, Datamatics was acknowledged as a niche…
Broker’s call: Kotak Mahindra Bank (Buy)
Target: ₹2,124 CMP: ₹1,719.05 Kotak Mahindra Bank (KMB) has shown a decline in performance over the last three years (3Y return: -7.4 per cenet, 1Y return: -13.3 per cent) compared to the returns of Bank Nifty (3Y return: 37.4 per…
DroneAcharya’s FPV drone export order boosts shares by 6.30%
DroneAcharya Aerial Innovations Limited’s shares surged 6.30 per cent after the company secured an FPV (First Person View) drone supply export order to date, valued at ₹15.01 crore. The order involves supplying 5,000 FPV drone kits and components and will…
SEBI widens disclosure norms for IPOs
The Securities and Exchange Board of India (SEBI) has sent a 31-point advisory to investment bankers, requiring enhanced disclosures and increased due diligence on companies tapping the market for initial public offerings (IPOs). The advisories may make life difficult for…
Mcap: 8 of 10 most valued firms erodes by ₹2.08 lakh crore; Reliance, TCS biggest laggards
The combined market valuation of eight of the top-10 most valued firms declined by ₹2,08,207.93 crore last week, with bellwether Reliance Industries, TCS and Infosys taking the biggest hit. While these three firms along with ITC, Life Insurance Corporation (LIC),…
FPIs sell ₹25,586 crore in Indian equities ahead of June 4 election results
Ahead of the June 4 general election results, Foreign Portfolio Investors (FPIs) have aggressively sold ₹25,586 crore in Indian equities in May 2024, data with depositories showed. Also read:FPIs raise short exposure on index futures as election D-day looms With…
Smaller ticks will have a big impact
The National Stock Exchange, last week, took an important decision for the first time since its inception in 1994 with respect to tick sizes. The leading exchange in terms of trading volume has reduced the tick size — the minimum…
Stock market today: Sensex snaps five-day losing streak on value buying, closes up 75 pts
Stock markets snapped their five-day losing run on Friday with the benchmark BSE Sensex closing higher by 75 points on value-buying in banking and oil shares after recent losses. Also read:Stocks that will see action today: May 31, 2024 The…
Bharat Rasayan shares jump 17% after Q4 results
Bharat Rasayan shares jumped nearly 17 per cent a day after the company reported its financial results for the quarter that ended March 2024 post market hours. The stock traded at ₹10,720.30 on the NSE, higher by 16.46 per cent…
SEBI launches calculator for settlement proceedings
SEBI has launched the beta version of its settlement calculator to simplify and provide greater transparency in arriving at the indicative settlement amount as laid down in its 2018 settlement regulations. A settlement allows an alleged wrongdoer to settle a…
PTC Industries reports 59.9% increase in Q4 profit; shares gain
PTC Industries Ltd’s shares were up by 1.91 per cent after the company reported a 59.9 per cent increase in profit for the quarter ended March 31, 2024, at ₹147.2 crore compared to ₹92 crore during the corresponding quarter last…
Mahindra Manulife MF launches manufacturing fund
Mahindra Manulife Mutual Fund has launched an open-ended equity mutual fund scheme — Mahindra Manulife Manufacturing Fund. The scheme is aimed at investing predominantly in equity and equity-related securities of companies engaged in manufacturing theme. The new fund offer (NFO)…
Vedanta considering ₹10,000 crore share sale as early as June
Anil Agarwal’s Vedanta Ltd. is considering a share sale as soon as the coming weeks that could raise as much as ₹8,500 crore, people with knowledge of the matter said. Vedanta is working with advisers including Axis Bank Ltd. subsidiary…
Broker’s call: Affle India (Buy)
Target: ₹1,535 CMP: ₹1,188.95 Affle’s (India) Q4FY24 revenue stood at ₹506.20 crore up, 1.5 per cent q-o-q/42.3 per cent y-o-y, beating our estimates of ₹499.8 crore, driven by steady growth in CPCU revenue. EBITDA margin was flat at 19.4 per…
Stock market today: Sensex, Nifty marginally rise amid volatility; Smallcap, Midcap decline
BSE Sensex was up by 0.07 per cent or 52.35 points to 75,442.85, while the NSE Nifty was at 22,948.60 up by 0.07 per cent or 16.15 points. A total of 3,873 stocks were actively traded, 1,231 advanced, while 2,530…
Stock market today: Sensex, Nifty end flat after logging new highs
Benchmark indices retreated after hitting fresh highs on Monday amid profit booking. The Sensex hit a fresh high and crossed 76,000 before ending at 75,391, down 0.03 per cent, amid weakness in metal and auto shares. The Nifty was down…
Stock market today: Nifty and Sensex climb, driven by banking stocks and reduced FII selling
NSE Nifty was up by 0.56 per cent or 127.60 points to 23,086.85, while the BSE Sensex was at 75,911 up by 0.66 per cent or 500 points. Also read:Markets at a new peak, but only one in 10 stocks…
Purchased more paddy and farmers paid quickly: Telangana Civil Supplies Minister
Telangana Civil Supplies and Irrigation Minister Capt N Uttam Kumar Reddy on Sunday emphasised the efficiency and transparency of the current Congress government’s grain purchasing process, stating that payments to farmers were made within three to four days, unlike during…
Shifting Stance: FPIs turn bullish on Indian equities ahead of June 4
Foreign Portfolio Investors (FPIs), have shifted from heavy selling to increased buying of Indian equities, anticipating a clear BJP/NDA win in the general elections, analysts said. Also read:Despite continued selling pressure by FPIs, Indian markets are at all-time high This…
Trading in equity cash segment slows down on high valuation, poll uncertainty
Trading in cash equity segment of NSE and BSE have slowed down in the last two months, even as the markets are hitting a new high. Retail and high networth investors are holding back their investments, due to high volatility…
Adani Enterprises stock price: Breaches pre-Hindenburg levels
Adani Enterprises’ shares have reclaimed the levels seen in January last year, prior to the damaging allegations levelled by short-seller hedge fund Hindenburg Research against the group triggering a sell-off in group stocks that wiped off billions of dollars of…
Indus Towers: What Should Investors Do After 120 per cent Returns From our Buy Recommendation
The biggest winner from the successful Vodafone Idea FPO that was successfully concluded last month was not Vodafone Idea, it was rather Indus Towers which has witnessed a change of fortunes as compared to same time last year. From…
Jagsonpal Pharma introduces new product; shares rise
Jagsonpal Pharmaceuticals Ltd’s shares were up by 4.71 per cent after the company announced the launch of MemUp, a hormone replacement therapy (HRT) featuring a USFDA-approved combination of bioidentical estradiol and bioidentical progesterone in a single daily oral capsule. MemUp aims…
Uno Minda stock price: Surges 10% on Q4 show, fundraising plans
Shares of Uno Minda Ltd surged over 10 per cent on Thursday after reporting strong financial performance for Q4-FY24 and fundraising plans. Also read: Uno Minda signs technical license agreement with Starcharge Energy The company reported its consolidated net profit…
Midday markets: Nifty and Sensex rise; Adani, Axis Bank lead
The NSE Nifty was up by 0.35 per cent or 79.90 points at 22,677.70, while the BSE Sensex was at 74,640 up by 0.57 per cent or 419 points at mid-session on Thursday. Of a total of 3,792 stocks that…
SEBI panel proposes changes to BRSR framework
A SEBI committee has suggested changes to the BRSR, or Business Responsibility and Sustainability Reporting, framework. ESG disclosures for the value chain will be applicable to the top 250 listed entities on a comply-or-explain basis from FY25. The committee felt the definition of ‘value chain’…
Strides receives USFDA approval for Sucralfate oral suspension; stocks move up
Strides Pharma Science Ltd’s shares were up by 0.76 per cent after the company said its step-down wholly-owned subsidiary, Strides Pharma Global Pte Ltd, Singapore, had received approval from the United States Food & Drug Administration (USFDA) for the generic…
In a first, BSE M-cap tops $5 trillion; high valuation a worry
The market capitalisation of companies listed on BSE crossed $5 trillion for the first time on Tuesday, turning the spotlight on valuations. The number of companies trading at more than 50 times 12-month forward price to earnings multiples has increased…
Bharat Electronics Q4 results: share price up; brokerages bullish
Bharat Electronics stock surged, to hit a fresh high at ₹283 on the NSE on Tuesday, after the company reported its financial results for the quarter ended March, 2024. The company reported its consolidated net profit for the quarter ended…
SIP inflows drop by 5% in April amid market uncertainty and election concerns
The net SIP inflow into mutual funds fell by 5 per cent to ₹8,660 crore in April against ₹9,109 crore in March largely due to investors hitting the pause button on monthly remittances amid concern over high valuation and uncertainty…
Solara Active Pharma meets USFDA’s inspection at its Visakhapatnam facility
Solara Active Pharma Sciences Ltd has announced that the USFDA has completed the inspection at its multipurpose API manufacturing facility in Visakhapatnam, Andhra Pradesh. The inspection established that the site is in an “acceptable state of compliance” with zero form…