Stock market live updates: Indian agri-commodity stocks yo-yo on Brazil drought

With more than half of Brazil — a key producer of coffee, sugar, corn and soyabean — reeling under drought, prices of the staples are on the rise as are shipping costs. As one the world’s largest crop exporters, any trouble in Brazil will impact food prices globally.

Share prices of major Indian players in the field such as Tata Consumer, ITC, Hindustan Unilever and Adani Wilmar have been under pressure. On the other hand, Patanjali Foods, Agro Tech Foods, Saptarishi Agro Industries and Amber Protein Industries have been on the rise in the last one month. 

Stock market updates: DMart tumbles 9% as analysts downgrade stock post ‘weaker’ Q2

Shares of Radhakishan Damani-owned Avenue Supermarts (owners of DMart) slumped 8.48 per cent on Monday following weaker-than-expected results posted by the company. As analysts turned cautious on the stock with some revising the target price downwards, marketmen pressed the sell button on the counter.

The stock tumbled 8.48 per cent to ₹4,184.45 on the BSE and 8.35 per cent to ₹4,191 on the NSE.

Stock recommendations: Bandhan Bank (Buy)

Bandhan Bank announced that RBI has approved the appointment of Partha Pratim Sengupta as MD and CEO of the bank for a period of three years. He is expected to take charge before November 10. 

We believe the appointment brings clarity on leadership at Bandhan Bank which in turn removes a critical overhang. Sengupta’s career experience in credit across retail and corporate banking should help Bandhan Bank, where credit performance has been challenging over the past few years.

Stock recommendations: Bajaj Finance (Buy)

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, asset under management growth was strong at 31 per cent/7 per cent year on year/quarter on quarter, with growth healthy across segments. With the regulator lifting restrictions on both the digital lending products – ‘eCOM’ and ‘instaEMI’, the company went live offering the products across all platforms in mid-June 2024. The momentum on these products is expected to improve over the next three quarters.

Economy watch: Retail inflation surges to its highest level in 2024, touches 9-month high of 5.5% in Sept

A sharp spike in food prices and an unfavourable base effect pushed retail inflation based on Consumer Price Index (CPI) to a 9-month high of 5.5 per cent in September against 3.7 per cent in August, government reported on Monday. With this, the possibility of policy interest rate cut further faded in the near term,

Experts say after a surprise surge in September, the October print is also estimated to be in 5 per cent plus range.

Q2 results updates: Reliance Ind Q2 net dips 4.8% as ‘slow’ O2C offsets digital rise

Reliance Industries reported a 4.8 per cent annual fall in consolidated net profit in Q2 of FY25 at ₹16,563 crore, while revenue growth was flat at ₹2.4 lakh crore, the growth in digital services offset by weakness in petchem as well as subdued consumer demand, that affected retail performance.

On a sequential basis net profit was 9.4 per cent higher and revenue growth flat.

Consolidated EBITDA at ₹43,934 crore saw a 2 per cent decline, dragged down by the O2C business.

Q2 results updates: HCLTech Q2 profit rises 10.5 per cent YoY to ₹4,235 crore on higher revenue

Noida-based information technology company, HCL Technologies (HCLTech), on Monday reported a consolidated net profit ₹4,235 crore for the second quarter that ended on September 30. This was up 10.51 per cent year-on-year (YoY) as compared with ₹3,832 crore in the same period, last year.

Consolidated revenue also rose by 8.21 per cent YoY to ₹28,862 crore for the quarter in review, as compared with ₹26,672 crore in the same July-September quarter last financial year.

Debt market updates: G-Secs see first weekly outflow after inclusion in global debt indices

Government Securities (G-Secs), which are eligible for inclusion in global debt indices, saw first weekly outflow last week after their inclusion late June in JPMorgan Chase & Co’s Government Bond Index-Emerging Markets (GBI-EM) index.

Foreign investors sold ₹1,680 crore ($200 million) of so-called Fully Accessible Route (FAR) bonds last week, said Bloomberg quoting Clearing Corporation of India data.

Stock market updates: PLI: Third round for white goods attracts 38 companies

A total of 38 companies, including Daikin, Voltas and Blue Star, have responded to the third round of re-opening of application windows for production linked incentive (PLI) scheme for white goods with committed investments of ₹4,121 crore for manufacturing varieties of critical components of ACs and LED.

Stock market updates: Groww adds 47 lakh SIP accounts in Q2

Groww has added over 47 lakh new SIP accounts during the July-September quarter. Out of 66 lakh new SIPs recorded in September by AMFI, Groww added 16 lakh new SIPs, strengthening its market leadership, it said in a statement.

Stock market updates: Editorial. More disclosures needed in SEBI ‘direct plan’ push

It has now been more than a decade since the Securities and Exchange Board of India (SEBI) flagged off the direct route to investing in mutual funds, which required all schemes to carve out a separate plan where distributor commissions would not be charged to the investor. Direct plans have delivered a good return experience, with annualised returns that are 50-200 basis points higher than regular versions of the same schemes. But with the industry making no special effort to promote the direct route and fee-only advisors (who forego product commissions and collect their fee from the investor) shrinking in number, investor awareness about direct plans remains patchy.

Stock market updates: LIC dominates first-year new business premium market despite private sector competition

Insurance behemoth Life Insurance Corporation of India (LIC) has maintained its lead in the life insurance sector as of September 30, significantly outpacing private sector competitors in the first-year new business premium collection for April-September 2024.

WATCH: Today’s Stock Recommendation: October 15, 2024

Here’s an interesting stock idea: The stock idea that we have for you today Kalyan Jewellers. The stock has begun the week on a positive note by surging over 4 per cent on Monday. This indicates that the corrective fall has ended and a new leg of upmove has begun. The outlook is bullish and the share price can go up from here.

IPO Watch: Hyundai Motor raises ₹8,315 cr from anchor investors

Hyundai Motor India on Monday raised ₹8,315.28 crore from anchor investors ahead of the issue opening on Tuesday. In a notice to the exchanges, the Korean automobile major said the IPO committee of the company, in consultation book running lead managers, has finalised allocation of 4.24 crore shares to anchor Investors at ₹1,960 a share — the upper end of the IPO price band ₹1,865-1,960.

Technical Analysis: Trading Guide for October 15, 2024: Intraday supports, resistances for Nifty50 stocks

Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS, and SBI

Stock Recommendations: Stock to buy today: Kalyan Jewellers India (₹751.10): BUY 

The outlook is bullish for Kalyan Jewellers India. The stock has begun the week on a positive not by rising over 4 per cent on Monday. This rise marks the end of the short-term correction that was in place since the last week of September. It also indicates that the broader uptrend has resumed.