Another flat opening seen for Nifty, Sensex
Domestic markets are expected to open on a flattish to positive note on Wednesday, amid mixed global cues. As India macros remain robust, analysts expect the equity markets to sustain the momentum. However, amid valuation concerns, analysts expect profit-taking at…
Broker’s call: Bharat Electronics (Buy)
Target: ₹360 CMP: ₹318 Bharat Electronics (BEL) reported numbers above expectation, with revenue growing 19.6 per cent y-o-y to ₹4,200 crore and EBITDA margins expanding 340 bps y-o-y. Order book as on Q1-FY25 stands strong at ₹76,700 crore (3.7x TTM…
IPO screener: Akums Drugs issue opens today at ₹646-679 price band
The initial public offering of Akums Drugs and Pharmaceuticals opens today for public at a price band of ₹646-679 per share. The ₹1,856.74-crore IPO is a mix of fresh issue worth ₹680 crore and an offer-for-sale of 1.73 crore shares worth ₹1,176.74…
Cyril Amarchand Mangaldas poaches entire capital market team from IndusLaw
Cyril Amarchand Mangaldas, one of the country’s largest full-service law firms, is understood to have poached the entire capital market team of rival IndusLaw that includes more than 50 lawyers. The capital market team at IndusLaw is headed by Manan…
Stock Market Live Updates July 29, 2024: Sensex, Nifty expected to trade firm, extend rally
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 July 29, 2024. ALL UPDATES July 29, 2024 09:05 Stock market live…
SJVN Share Price Updates 26 July 2024: SJVN shares zoom on bagging project from Mizoram Govt
JVN Share Price Updates 26 July 2024: SJVN stock jumped over 8% in early trade on Friday after the company received a letter of intent for allotment of Darzo Lui Pumped Storage Project from the Government of Mizoram. The estimated…
Sensex rebounds 1,293 points, Nifty ends at record high on value buying after 5 days of losses
The benchmark Sensex rebounded by 1,293 points, while the broader Nifty shot up nearly 2 per cent to a record high on Friday, cutting short its five-day losing streak on heavy value-buying at lower levels and a rally in blue-chips…
Broker’s call: Bikaji Foods (Add)
Target: ₹760 CMP: ₹716.75 Bikaji Foods International’s Q1-FY25 management commentary reassured us on the topline trajectory, but margin outlook for FY25 looks bland. The management is aiming for 13-15 per cent volume growth for FY25, and expects product prices to…
Broker’s call: Embassy REIT (Add)
Target: ₹415 CMP: ₹716.75 Embassy Office Parks REIT (Embassy REIT) clocked Q1-FY25 NOI of ₹770 crore (down marginally q-o-q) and NDCF of ₹530 crore with distribution of ₹5.6/unit. Overall portfolio occupancy as of Jun’24 remained flat q-o-q at 85 per…
Sanstar ends 21% higher on listing day
Shares of Sanstar debuted on postiive note on Friday after blockbuster IPO. As against the IPO price of ₹95, the stock was listed at ₹109 on the NSE and rose further to ₹128.79 before settling at ₹115.07, up 21.25 per…
Stock Market Live Updates July 26, 2024: Stock to buy today: Hindustan Petroleum Corporation (₹374.40): BUY
Home Markets Updated – July 26, 2024 at 08:51 AM. Sensex, Nifty, Share Prices LIVE: The outlook for Hindustan Petroleum Corporation Ltd (HPCL) is bullish. The stock surged 5.8 per cent on Thursday and has closed on a strong note….
Broker’s call: L&T (Buy) – The Hindu BusinessLine
Target: ₹4,150 CMP: ₹3,623 Larsen Toubro’s Q1-FY25 results were 3 per cent ahead of our estimates on both revenue and PAT. The company reported 15/15/12 per cent y-o-y growth in revenue/EBITDA/PAT on a consolidated basis. In a seasonally weak quarter,…
Sensex, Nifty expected to open weak; analysts foresee volatility
Indian benchmark indices Sensex and Nifty are expected to open with a downward bias on Thursday amid weak global cues. With the Budget being negative for markets (due to taxes on investments and STT) and weaker-than-expected results reported by India…
Broker’s call: M&M Financial (Buy)
Target: ₹340 CMP: ₹298.45 Q1 core income was in line with estimates, but lower provisions led to M&M Financial Services’ earnings beat. On its strong parentage, healthy growth and potential for improvement, we retain our Buy rating. Steady AUM growth,…
Market outlook: FMCG, IT, durables favoured; industrials, financials negative, says Emkay Global
Emkay Global has released a detailed market outlook following the Union Budget, emphasising fiscal prudence and maintaining policy continuity. The Finance Minister’s focus on capex over revenue expenditure and adherence to the fiscal consolidation path (with the fiscal deficit ending…
Cautiously bullish on equities market
The latest Budget on an overall basis is broadly positive despite the higher tax on capital gains and higher STT. The negative sentimental effect of the higher taxes may be over in a couple of days. The provision for boosting…
IPO screener: Sanstar issue closes today
Today is the last day to subscribe to Sanstar’s issue. The ₹510-crore initial public offering from a plant-based speciality products company saw an overwhelming response from retail and high net-worth individuals during the first two days of opening. The IPO, with…
Broker’s call: JSW Energy (Sell)
Target: ₹483 CMP: ₹709.90 JSW Energy reported flat revenue of ₹2,900 crore in Q1, led by lower fuel costs, which are generally pass-through in nature. EBITDA grew a robust 16 per cent y-o-y to ₹1,400 crore, led by incremental contribution…
IPO Screener: Sanstar starts Day 2 on a strong note
The ₹510-crore initial public offering from plant-based speciality products company Sanstar saw an overwhelming response from retail and high net worth individuals on Day 1 of issue opening on Friday itself. The IPO, with a price band of ₹90 to ₹95…
Mcap: 8 of top-10 most valued firms jumps ₹2.10 lakh crore; TCS, LIC sparkle
The combined market valuation of eight of the top-10 most valued firms jumped ₹2,10,330.26 crore in a holiday-shorted last week, with Tata Consultancy Services (TCS) and Life Insurance Corporation of India emerging as the biggest gainers. Last week, the BSE…
July Budget Days: Will indices break the trend this time and end in green?
Benchmark indices have surged to new highs ahead of the upcoming Union Budget. Will the Budget keep the market momentum going? A study of four Budgets tabled in July after the formation of a new government shows that benchmark indices,…
Technical Analysis: Gland Pharma, Tata Teleservices (Maharashtra) and Timken India
Gland Pharma (₹1,992.35) Likely breakout ahead The bear grip on the stock of Gland Pharma loosened in May last year after it touched ₹900. This led to the end of a long-term downtrend and a recovery followed. But the stock…
Broker’s call: Havells India Add
Centrum Broking Target: ₹1,875 CMP: ₹1,768.45 Havells India’s sales growth was healthy at 20 per cent y-o-y to ₹5,800 crore, 3 per cent above our estimate, largely driven by Lloyd (+47 per cent y-o-y) and ECD (+20 per cent y-o-y…
Bull or bear, which camp do you belong to?
Of late, there have been many voices predicting a big crash, given the unrelenting rise in stock prices, and lofty valuations. Some quote Harry Dent, a financial author and economist who, in a recent interview to Fox News, said: “we’re…
Gift Nifty indicates flat opening amid weak Asian markets
Domestic markets are expected to continue their rally, thanks to the information technology (IT) sector. After IT major Infosys came out with stellar numbers for Q1 of FY25 and raised its full-year guidance, analysts expect Nifty to cross the 25,000-mark…
Navi MF launches first-ever Nifty 500 Multicap index fund
Navi Mutual Fund has launched its first-ever index fund to track Nifty 500 Multicap 50:25:25 index. The new fund offer will close on July 30. The multi-cap index offers investors an opportunity to gain diversified exposure across large, mid and…
Markets to open flat amid weak global cues
Gift Nifty indicates another flat opening for the domestic markets. Nifty futures at Gift City is ruling at 24,660 against the NSE value of 24,644. As the results season has kicked in, the focus has shifted to the financial performance…
Institutional investors step up due diligence in investee companies
Qualified Institutional Investors, especially Asset Management Companies (AMCs), have stepped up their due diligence prior to investing in companies through qualified institutional placements and also in the case of initial public offerings. “The business diligence being done by the institutional…
57% of open-ended equity diversified funds outperformed have their benchmarks
57 per cent or 159 of the 281 open-ended equity diversified funds outperformed their respective benchmarks in June, according to PL Wealth Management, Prabhudas Lilladher’s wealth management arm. Multi cap funds was the best performing category where 75 per cent…
SEBI to introduce new asset class with ₹10 lakh minimum investment
SEBI plans to introduce a new asset class to bridge the gap between mutual funds (MFs) and portfolio management services (PMS). This will be offered under the MF structure, with new branding and relevant relaxations in existing MF norms. The…
Stock Market Live Updates July 16, 2024: Stock to buy today: Bank of Maharashtra (₹68.75): BUY
Ex-Dividend 18 July 2024 (Thursday) Last date for Cum-Dividend Today Advanced Enzyme Technologies Ltd Dividend Per Share Rs.1.1 Previous day Closing Price – Rs. 377.45 Amara Raja Energy & Mobility Ltd Dividend Per Share Rs.5.1 Previous day Closing Price –…
NLC India plans ₹12,000 crore investment in new coal mine, shares hit record high
Today was a golden day for NLC India, as it formally bagged a large coal mine in Odisha—one that has the potential to double the company’s lignite-cum-coal production. The company signed a Coal Mine Development and Production Agreement with…
Stock Market Live Updates July 15, 2024: Stock to buy today: Wipro (₹560.05): BUY
https://play.google.com/store/apps/details?id=com.intelegain.rb Recent Interview… As of 18:13 PM Friday 12 July 2024 Anand Rathi Wealth: Feroze Azeez, CEO Larger Wallet Share Is One Of The Reasons For Strong Growth: Anand Rathi Wealth Poly Medicure: Himanshu Baid, MD PLI Scheme Needs To…
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…
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…
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…
Stock Market Live Updates: – The Hindu BusinessLine
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Broker’s call: Dixon Tech (Buy)
Target: ₹11,000 CMP: ₹12,613.85 Being a key beneficiary of the government’s most successful PLI scheme, the Dixon Technologies (Dixon) stock price has nearly doubled over the past 6M, led by accelerated growth momentum seen in the mobile segment. Staying true…
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…
Broker’s call: Bajaj Auto (Neutral)
Target: ₹7,310 CMP: ₹9,540.85 Bajaj Auto (BJAUT) has launched the first ever CNG-powered bike, Bajaj Freedom 125 with prices ranging from ₹95,000 to ₹1,10,000 (ex-showroom). The bookings of ‘Freedom 125’ have started, with deliveries starting first in Maharashtra and Gujarat….
IPO screener: Bansal Wire to debut on bourses with strong subscription
Shares of Bansal Wire Industries will make their debut at the bourses on Wednesday. Bansal Wire, an 100 per cent fresh issue, was subscribed 59.57 times. The ₹745-crore initial public offering came out with a price band of ₹243-256 and 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,…
Affle receives ‘buy’ rating from Citi with ₹1,600 target price
Citi has initiated coverage on Affle India with a Buy rating and a target price (TP) of ₹1,600 per share. This TP is based on a 48x FY26E P/E multiple, reflecting a 50 per cent premium to global ad-tech peers…
Broker’s call: Muthoot Microfin (Buy)
Target: ₹300 CMP: ₹244.80 We believe Muthoot Microfin Ltd’s unique risk assessment model using Equifax, dedicated collections team, risk-based pricing, continued tech integration to lower opex, NAT CAT and death insurance to shield asset quality and strong parentage of Muthoot…
Sensex, Nifty likely to open flat despite record highs
Domestic markets are expected to open flat on Monday despite ruling at peak levels. According to analysts, though valuation is a concern for domestic markets, participants, especially institutions, are still in hold mode. According to them, the upcoming Budget and…
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…
F&O Query: Should you Buy or Sell Stock Derivatives?
Can I buy the July expiry TCS 4100-strike call option? Anil Kewalramani Tata Consultancy Services (₹4,011.8): The stock of TCS (Tata Consultancy Services) has been in an uptrend since early June, after finding support at ₹3,600. But in the last…
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…
Emcure Pharma and Bansal Wire IPOs witness exceptional demand
The initial public offerings of Emcure Pharmaceuticals Ltd and Bansal Wire Industries received an overwhelming response, especially from qualified institutional buyers on the last day. The IPO of Bain Capital-backed Emcure Pharma which came out with a price band of…
Stocks that will see action today: 5 July 2024
Optiemus Unmanned Systems (OUS), a subsidiary of Optiemus Infracom Ltd, on Thursday said it will invest around ₹140 crore to deploy 5,000 drones in the agricultural and mapping category over the next one year. Through this project, it is also…
SEBI mandates stock brokers to establish mechanism for prevention of fraud and market abuse
The Securities and Exchange Board of India (SEBI) on Thursday issued a circular requiring stock brokers to establish an institutional mechanism for prevention and detection of fraud or market abuse in a bid to protect the interest of investors in securities…
Stock Market Live Updates 4 July 2024: Stock to buy today: Laurus Labs (₹437.6)
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 4 July 2024. ALL UPDATES July 04, 2024 06:47 Stock market live…
Broker’s call: Epigral (Buy) – The Hindu BusinessLine
Target: ₹2,000 CMP: ₹1,559.20 Epigral (formerly Meghmani Finechem) is poised to consistently grow its earnings at over 25 per cent CAGR over the next few years, led by: higher utilisation/expansion of existing capacities, consumption of chlorine into derivatives/value-added products with…
Stock Market Live Updates July 3, 2024: Stock to buy today: Jyothy Labs (₹477.35): BUY
Sensex, Nifty, Share Prices LIVE: The outlook for Jyothy Labs is bullish. The strong 5.75 per cent surge on Tuesday has taken the share price well above the ₹460-470 resistance cluster. The region between ₹465-460 will now act as a…
Chronology of events in the Hindenburg-Adani case
· In March 2022, K India Opportunities Fund Class F was registered with SEBI as an FPI. It is a sub-fund of K India Opportunities Fund Ltd floated by Kotak group in 2013 to enable foreign clients to invest in India…
Stock Market Live Updates July 2, 2024: Stock to buy today: Shyam Metalics and Energy (₹714.10): BUY
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 July 2, 2024. ALL UPDATES July 02, 2024 07:14 Stock market live…
Broker’s call: Inox Wind (Buy)
Target: ₹185 CMP: ₹143.80 We initiate coverage of Inox Wind Ltd (IWL) with a Buy recommendation and a target price of ₹185. Inox Wind is a fully integrated wind energy solutions provider. The company is engaged in the business of…
Stock Market Live Updates 01 July 2024: Today’s Stock Recommendation: Bombay Dyeing & Manufacturing Company (₹211.05): BUY
Sensex, Nifty, Share Prices LIVE: Here’s an interesting stock idea: The stock idea that we have for you today is Bombay Dyeing & Manufacturing Company. The stock has risen well above the psychological ₹200 mark and has been sustaining well…
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…
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…
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…
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…
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…
Stock Market Live Updates 28 June 2024: Stock to buy today: JK Lakshmi Cement (₹890.45): BUY
Sensex, Nifty, Share Prices LIVE: The upmove in the stock is gaining momentum. The share price has risen well over the last couple of days after breaking the 100-day moving average (DMA) resistance at ₹846. That leaves the outlook bullish…
PVR Inox launches four-screen cinema in Hyderabad
PVR Inox has announced the launch of its four-screen cinema in Hyderabad with 4K laser projection in all auditoriums. Located at Prism Mall, the newly-owned cinema features 4K laser projection, advanced Dolby ATMOS immersive surround sound and Next Gen 3D…
Stock Market Live Updates: Stock to buy today: ICICI Securities (₹772): BUY
Sensex, Nifty, Share Prices LIVE: The short-term outlook is bullish for ICICI Securities. The stock has just made a bullish breakout of its sideways consolidation that was in place since mid-March this year. Support is in the ₹760-750 zone. The…
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,…
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…
Stock market update: Sensex ends at 78,000 level, Nifty at 23,700; Shriram Finance, Axis Bank, ICICI, HDFC among top gainers
BSE Sensex advanced by 712.44 points, or 0.92 per cent, to close at 78,053.52 on Tuesday, while NSE Nifty50 ended at 23,721.30, higher by 183.45 points, or 0.78 per cent. Sectoral indices traded in a mix. Nifty realty declined by…
Stock Market Live Updates 25 June 2024: Stock to buy today: Firstsource Solutions (₹213.95): BUY
Sensex, Nifty, Share Prices LIVE: The short-term outlook is bullish for Firstsource Solutions. The stock has begun the week on positive note by rising over 4 per cent. This rise indicates that the up move could be gaining momentum. Moving…
Broker’s call: West Coast Paper (Buy)
Target: ₹859 CMP: ₹692 West Coast Paper Mills Ltd (WCPML) offers a diversified product portfolio of quality printing and writing paper from 52 to 140 gsm, suitable for modern print-houses requiring high-quality paper for commercial to premium printing at affordable…
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…
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…
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…
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…
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…
SBI MF launches Silver ETF and Fund-of-Fund; NFO opens June 27
SBI Mutual Fund has launched SBI Silver ETF and SBI Silver ETF Fund-of-Fund. Silver ETF will primarily invest 95-100 per cent in silver and silver-related instruments, while the Silver ETF Fund of Fund would invest a 95-100 per cent in…
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…
Broker’s call: HDFC Life (Buy)
Target: ₹710 CMP: ₹589.95 HDFC Life Insurance Co Ltd (HDFC Life), a subsidiary of HDFC Bank, provides insurance services — life, health, property and automobile protection, among others. In Q4FY24, HDFC Life reported a net premium growth of 5.5 per…
Marquee funds trim NSE holdings due to lack of IPO visibility, limited fund life cycle, leading to share sales
A clutch of marquee funds have trimmed their holdings on the National Stock Exchange (NSE) in 2023-24, given the lack of IPO visibility and the limited life cycle of the funds. Elevation Capital has offloaded its entire holding of 68…
Brokers call: Paytm (Reduce) – The Hindu BusinessLine
Target: ₹300 CMP: ₹410.40 As part of its strategy of focusing on the dwindling core business viz. Payments and Financial Services post RBI action, One97 Communications owners of Paytm is exploring a deal with Zomato (foodtech) to transfer its high-margin…
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…
Cement Stocks: Ambuja, Ultratech, Jk, Dalmia cements, trading positive in the domestic market
A majority of the cement stocks including Ambuja Cements,Ultratech Cement, Shree Cement, JK Cement, Kesoram Industries, Dalmia Bharat, and ACC have been trading positive in the domestic market. In Wednesday’s trade, these stocks rose by 1-5 per cent. Over the…
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…
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…
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…
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…
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…
Stock market today: Sensex hits all-time high, as RBI raises GDP growth projection
Benchmark Sensex soared by more than 1,720 points, or over 2 per cent, to hit life-time intra-day record highs on Friday, after the Reserve Bank of India, revised upwards the GDP growth projection to 7.2 per cent, for 2024-25 from…
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…
Broker’s call: Bharat Dynamics (Buy)
Target: ₹1,560 CMP: ₹1,369.85 Bharat Dynamics Ltd (BDL) reported revenue for the quarter grew by about 7 per cent y-o-y to ₹850 crore ( vs our est. ₹890 crore) and ₹790 crore in Q4FY23, topline was slightly below our expectations….
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…
Stock market today: Sensex, Nifty plummet after election upset; investors brace for policy shifts
The BSE Sensex was down by 5.74 per cent, or 4389 points, to 72,097, while the NSE Nifty was at 21,884 down by 5.93 per cent, or 1,379 points, at 3.30 pm. Vinod Nair, Head of Research, Geojit Financial Services,…
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…
Stock market today: Nifty and Sensex surge 3%, led by optimism and PSU rally
BSE Sensex was up by 3.39 per cent or 2,507.47 points to 76,468.78, while the NSE Nifty was at 23,244.95 up by 3.17 per cent or 714.25 points at 3.30 pm. Also read:SBI market cap hits ₹8 lakh crore, surpasses…
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…
Retail investors bet big on India derivatives as foreigners balk
Indian retail investors are turning most bullish on stock derivatives ahead of the outcome of the country’s elections next week, even as foreigners are treading cautiously. Also read: Retail investors need a derivatives de-addiction Individual investors, including high net-worth traders,…
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…
Sterlite Technologies partners with Connexin for gigabit broadband
Sterlite Technologies Ltd announced that it was selected by the UK-based Connexin to help deliver gigabit broadband connectivity in Nottinghamshire. This partnership is part of a £58 million government contract awarded to Connexin under Project Gigabit, aimed at bringing ultrafast…
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…
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…
Coromandel International launches new crop protection products, shares up
Coromandel International Ltd’s shares were up by 1.87 per cent after the company announced the launch of 10 new crop protection products designed to improve crop yield, control pest infestations, and promote agricultural practices. These new offerings include three patented…
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’…
TCS partners with Burgan Bank to enhance core banking technology, shares rise
Tata Consultancy Services Ltd’s shares were up by 0.24 per cent after the company signed a deal to modernise the core banking technology of Burgan Bank. The bank will deploy TCS BaNCS™ to consolidate multiple standalone legacy applications into a…
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…
Balu Forge expands with new forging capacity in Karnataka
Balu Forge Industries Ltd. announced expansion with the establishment of a forging capacity of 72,000 tons annually. This expansion includes the acquisition of three new forging production lines: a 16-ton closed die forging hammer, a 10-ton closed die forging hammer,…
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…
SEBI revamps market cap computation basis for LODR compliance
Market regulator SEBI has modified the basis for the computation of market capitalisation of listed companies under its LODR regulations. As against an earlier practice of determining the applicability of provisions linked to market capitalisation on a single day’s market…
Mcap: 8 of top 10 most valued firms climb ₹1.47 lakh crore; LIC, Reliance major gainers
Eight of the top-10 most valued firms added ₹1,47,935.19 crore in market valuation last week, with Life Insurance Corporation of India (LIC) and Reliance Industries emerging as the biggest gainers. Last week, the BSE benchmark climbed 1,341.47 points or 1.84…
Equity indices extend rally in special trading session, Sensex ends at 74,005
Equity benchmark indices closed the special trading session on a firm note on Saturday, extending their rally to the third day running amid fresh foreign fund inflows. The 30-share BSE Sensex climbed 88.91 points or 0.12 per cent to end…
FPIs turn buyers, snap 11-session selling streak
Foreign portfolio investors turned buyers on Friday for the first time in May, snapping a 11-session selling streak that saw a selloff of over ₹37,000 crore in the cash market. Market pundits attribute the recent bout of selling to a…
Go Digit IPO subscribed 9.6 times
The ₹2,615-crore IPO of Go Digit General Insurance was subscribed fully on the last day of issue closing on Friday. The issue was subscribed 9.60 times. The IPO came out with a price band of ₹258-272. As against an offer…
Veerhealth Care secured export order from US supplier; shares trade weak
Veerhealth Care Limited secured an export order worth $197,793 (approximately ₹165 Lakhs) from an institutional supplier in the United States. This order follows a preliminary sample order of oral care products. Bhavin Shah, Managing Director of Veerhealth Care Limited, said,…
India’s PC market grows 2.6% in Q1 of 2024, 3.07 million units shipped: Report
India’s traditional PC market, including desktops, notebooks, and workstations shipped 3.07 million units in Q1 of FY24, registering a year-over-year (y-o-y) growth of 2.6 per cent, according to International Data Corporation (IDC) Worldwide Quarterly Personal Computing Device Tracker. Also read:Major…
Stock Market Today: Sensex, Nifty decline 0.15%; Honeywell Automation, Dixon Technologies, Pricol, Titagarh Rail Systems rally on strong Q4 results
BSE Sensex declined by 109.15 pts or 0.15 per cent at 72,877.88 as of 12.35 pm, and Nifty 50 dropped 32.95 pts or 0.15 per cent at 22,167.60. Sectoral indices traded in a mix. Nifty realty rose 1.27 per cent to trade at 977.25…
Broker’s call: BEML (Accumulate) – The Hindu BusinessLine
Target: ₹4,004 CMP: ₹3,777.05 We revise our FY25 EPS estimate down by 2.6 per cent factoring in execution of a lower than expected order book and downgrade the rating to ‘Accumulate’ from Buy with a revised TP of ₹4,004 (₹3,345…
Manali Petrochemicals’ subsidiary appoints distributor for silicone oils in UK, Ireland
Manali Petrochemicals Ltd’s (MPL) subsidiary PennWhite Limited, UK, has announced a long-term agreement with KRAHN UK Ltd for the distribution of silicone oil in the UK and Ireland. PennWhite Limited, based in Middlewich (UK), manufactures antifoam chemistry under the FoamDoctor…
Allied Blenders, Vraj Iron get SEBI’s go ahead for IPO
Mumbai-based Allied Blenders and Distillers and Chhattisgarh-based Vraj Iron and Steel have received green signal from the Securities and Exchange Board of India (SEBI) to go ahead with IPO. The Indian-made foreign liquor (IMFL) maker eyes ₹1,500-crore initial public offering…
Exicom launches new DC charger for electric vehicles; stock jumps
Electric vehicle charging and power solutions provider Exicom has announced the launch of ‘harmony gen 1.5 DC fast charger’ with a range of advanced features including an advanced AI-driven remote management system, high operational efficiency, and integrated lighting. According to…
India needs to focus on factor market reforms to propel growth to double digit: ADB Chief Economist
India needs to focus on factor market reforms like land and labour, to propel India’s growth to a double-digit trajectory, ADB Chief Economist, Albert Park has said. Also read:FPIs, FIIs continue selling spree amid uncertainties in Indian markets “There are…
Mcap of six of top-10 most valued firms declines by ₹1.73 lakh crore; HDFC, LIC major laggards
The combined market valuation of six of the top-10 most valued firms eroded by ₹1,73,097.59 crore last week, with HDFC Bank and Life Insurance Corporation of India taking the maximum hit in line with weak equities. Also read:Mcap of 7…
Inflation data, Q4 earnings, global trends to drive stock markets this week: Analysts
Stock markets will be driven by domestic inflation data, ongoing quarterly earnings from corporates and global trends this week, analysts said. News flows around the general election would also be tracked by investors, market experts said. Besides, investors would also…
BSE to take steps to mitigate options volatility
The BSE is taking steps to mitigate sudden spikes in options prices. The bourse had seen sudden spurts in two of its derivatives indices on February 2 and April 12, which has prompted the exchange to ramp up surveillance measures….
SEBI bans SME firm from capital market for misusing IPO proceeds
Capital markets regulator SEBI has passed an interim order against Varanium Cloud, a company listed on NSE’s SME platform, banning the company and its managing director from accessing the securities market until further notice. The latter has been restrained from…
Why This Asset and Wealth Management Company is Investment Worthy
Buoyant markets tend to work favourably for those players that are part of the ecosystem. Brokerages, asset and wealth management companies and even private equity/investment players tend to be beneficiaries when markets are on a bull run. Motilal Oswal Financial…
Stock Market Today: Global rally lifts Nifty, Sensex amid election outcome caution in markets
NSE Nifty rose 0.19 per cent or 41.20 points to 21,998.70, while the BSE Sensex was at 72,441.21 up 0.05 per cent or 40 points. A total of 3,820 stocks were actively traded, 1,880 advanced, while 1,782 declined and 158…
Indices crack on FPI selling, election uncertainty
The benchmark indices witnessed a sharp selloff on Thursday amid selling by overseas investors and nervousness around the outcome of the Lok Sabha elections. The Sensex slid 1,062 points, or 1.45 per cent, to 72,404; while the Nifty50 settled at…
Stock Market Today: L&T drags Sensex, Nifty at open; volatility index climbs
NSE Nifty 50 was down by 0.23 per cent, or 51.40 points, to 22,251, while the BSE Sensex was at 73,238, down by 0.31 per cent, or 227.50 points in early trade. A total of 2,979 stocks were actively traded,…
BSE to roll out single stock futures from July 1
BSE will launch single stock futures from July 1, the bourse said on Wednesday. This will be a fortnightly product and will be free of cost initially. Rival NSE currently offers over 180 stocks in index derivatives, but BSE may…
Midday markets show mixed trends; Nifty, Sensex down
NSE Nifty was down by 0.26 per cent or 57 points to 22,245, while the BSE Sensex was at 73,307 down by 0.28 per cent or 204 points. A total of 3,015 stocks were actively traded, 1,720 advanced, while 1,182…
RBI eases FEMA regulations to facilitate foreign investment in derivatives
Foreign investors will find it easy to invest in derivative investment as the Reserve Bank of India has amended the FEMA (Foreign Exchange Management Act) regulation to facilitate margin management for trading in permitted derivatives. This will be applicable for…
Sensex, Nifty inch up on rate cut hopes
Indian shares inched higher on Tuesday, driven by gains in consumer goods stocks and supported by renewed confidence that major global central banks will start lowering interest rates this year. The blue-chip Nifty 50 added 0.2 per cent to 22,491…
Options writers make huge losses on freak spikes in indices
Options writers were caught off guard by freak movements in the underlying indices last month, resulting in losses running into hundreds of crores for large individual traders, said two people in the know. The options strike prices saw unusual spikes…
Midday markets: Nifty down 0.06%, Sensex up 0.11%
NSE Nifty was down by 0.06 per cent or 12 points to 22,463.35, while the BSE sensex was at 73,959.20 up by 0.11 per cent or 99.05 points. A total of 3,986 stocks were actively traded, 1,257 advanced, while 2,562…
Green financing: India auctioned ₹20,000 crore worth sovereign green bonds in FY24
The government auctioned sovereign green bonds worth ₹20,000 crore in FY24, compared to ₹16,000 crore in FY23 to mobilise resources for green infrastructure projects, particularly for expanding renewable energy capacity. Also read:Indian bond yields stop swaying to the US tune…
Technical Call: Oil and Natural Gas Corporation – BUY
Long-term investors can buy Oil and Natural Gas Corporation (ONGC) (₹286) at current levels. The stock has been in a strong uptrend since April 2020. The price action from July 2015 to November 2023 indicates an inverted head and shoulder…
Technical Analysis: Trident, Goodluck India and Hindustan Motors
I have shares of Trident brought at ₹6.40. What is the long-term prediction for this stock? Can I continue to hold it? Arun Kumar, Coimbatore Trident (₹39.50): You have caught this stock at the bottom. It is now important for…
Aptus Value Housing posts 21% rise in Q4 consolidated PAT
Aptus Value Housing Finance Ltd has reported a 21 per cent increase in consolidated profit after tax at ₹164 crore for the quarter ended March 31, 2024, compared with ₹135 crore in the year-ago quarter. Also read:Aadhar Housing Finance IPO: Price…
Indices slide on selling in heavyweights
Selling by overseas investors in index heavyweights dragged down benchmark indices after a gap-up opening on Friday, capping a volatile week that saw the US Fed keep interest rates steady. Also read:Indices surge on global cues, rally in bank stocks…
F&O Query: Should you buy Canara Bank futures now?
What is the outlook for Canara Bank? Can I buy futures at the current level? – V Bhanu Canara Bank (₹625): The stock is in a long-term uptrend. Last week, it broke out of the hurdle at ₹620 and hit…
US Fed talk on interest rates may keep a lid on FPI flows
The US Federal Reserve’s interest rate googly may be a bit of a dampener for foreign portfolio flows into India in the near term. The Fed chair on Wednesday kept rates steady, hinted at delaying cuts, while shooting down talk…
Ester Industries stock surges over 5% after inking pact with Loop Industries
Ester Industries stock surged over 5 per cent after the company signed an agreement with Loop Industries Inc to form a joint venture to set up a polymer manufacturing facility in India. Shares were up 5.34 per cent to trade at ₹126.30 as of 1.23 pm…
Blackstone-backed Aadhar Housing Finance’s Rs 3,000-cr IPO to open on May 8
Aadhar Housing Finance Ltd, which is backed by private equity major Blackstone, is set to launch its ₹3,000-crore initial public offering (IPO) on May 8. The initial share-sale will conclude on May 10 and the bidding for anchor investors will…
Maruti Suzuki begins pre-bookings of Epic New Swift
Maruti Suzuki India Ltd has commenced pre-bookings of the fourth-generation Epic New Swift at an initial payment of ₹11,000. Partho Banerjee, Senior Executive Officer, Marketing and Sales, Maruti Suzuki India, said, “The Swift has been an iconic brand for Maruti…
Veranda Learning announces allotment of equity shares at ₹307 per share
The Chennai-based Veranda Learning Solutions, an enterprise offering end-to-end solutions in the education space, has allotted 20 lakh equity shares to the company’s promoters at ₹307 per share. This allotment follows the conversion of 20 lakh warrants, with the balance…
Jana Small Finance Bank stock rallies 19%
Shares of Jana Small Finance Bank rallied over 19 per cent after its Q4 financial results. Also read:Sensex, Nifty opens marginally up; Jana Small Finance hits 52-week high The stock traded at ₹597.05 on the NSE, higher by 19.34 per cent as of 12.44…
Broker’s call: L&T Technologies (Overweight)
Target: ₹5,600 CMP: ₹4,714.85 L&T Technology Services (LTTS) is the second ER&D company after PSYS to do a growth margin tradeoff in order to drive MT to LT growth by making investments currently where demand has moved sideways in order…
HCLTech faces biggest fall in 17 months on lower-than-expected FY25 outlook
HCLTech shares plummeted as much as 6.3 per cent on Monday, its biggest fall in nearly 17 months, as India’s No.3 software services company forecast fiscal 2025 revenue growth below estimates. The stock trimmed some losses to trade 5.62 per…
FPIs selling in equities continue unabated in April, withdrawing ₹6,300 crore till April 26
Foreign Portfolio Investors (FPIs) remained bearish on Indian equities going by the net outflows of ₹6,300 crore so far this month (till April 26) amid concerns around Mauritius Tax Treaty and US Bond Yield surge. The geopolitical concerns arising from…
MFs close in gap with bank deposit on back of strong growth, new investor addition
Thanks to uninterrupted bull run and renewed interest in equity investment, the quantum of assets under management of the mutual fund industry accounts for 26 per cent of the bank deposit as of March-end against 21 per cent logged in…
ATC Telecom Infrastructure exits Vodafone Idea; sells entire stake for ₹1,840 crore
ATC Telecom Infrastructure on Friday sold its entire 2.87 per cent stake in telecom operator Vodafone Idea for ₹1,840 crore through an open market transaction. American Tower Corporation (ATC) Telecom Infrastructure is one of the largest infrastructure service providers for…
NDTV earning jumps 59%, digital traffic up 39%
News broadcaster NDTV Ltd on Friday reported a 59 per cent jump in March quarter revenue as it expanded digital footprint, gaining a 39 per cent rise in traffic. Also read:Sony, Zee parting ways could rejig Indian media landscape Consolidated…
SEBI penalises BSE for inadequate fee payment on options contracts
Capital markets regulator Securities and Exchange Board of India (SEBI) has pointed out discrepancies in fees paid by BSE to the regulator on derivatives contracts. Also read: AMFI knocks on SEBI doors to resolve KYC impasse Since the introduction of…
Sensex, Nifty rally for 6th day running on firm Asian peers; Tech Mahindra jumps over 12%
Equity benchmark indices climbed in early trade on Friday, extending their rally for the sixth day running, on heavy buying in Tech Mahindra and firm trends in Asian markets. The 30-share BSE Sensex climbed 176.47 points to 74,515.91 in early…
NSE cuts Nifty lot size to 25 from Friday
The revised derivative market lot of Nifty 50 will take effect from Friday. Earlier this month, the National Stock Exchange (NSE) announced a revision in lot size from 50 to 25 for Nifty50. The bourse had also reduced the market…
Markets set to open lower; Kotak Mahindra Bank in focus
The benchmark indexes are set to open marginally lower on Thursday, after gaining for four sessions in a row, with focus on Kotak Mahindra Bank after the Reserve Bank of India barred the lender from taking on new clients digitally….
Broker’s call: Cyient DLM (Buy)
Target: ₹887 CMP: ₹721.20 Cyient DLM Limited (CDLM) Q4-FY24 quarterly numbers were broadly in line with JMFe. Rev at ₹360 croreup 30 per cent y-o-y driven by growth in defence seg. (78 per cent y-o-y), aerospace seg. (52 per cent…
IPO screener: JNK India subscribed 0.49 times at end of Day 1
The public issue of heating equipment maker JNK India Ltd was subscribed 0.49 times. The issue, at a price band of ₹395-415, received bids for 53.91 lakh shares against the offer size of 1.10 crore shares (Net off anchor portion)….
Broker’s call: Adani Ports (Buy)
Target: ₹1,590 CMP: ₹1,322.30 In our initiating coverage report on Adani Ports & SEZ Ltd in Oct’23, we had highlighted that the company’s improving utilisation levels at its current ports, along with its ramping up of volumes at newly acquired…
Intellect Design’s iGBT powers Jordan Kuwait bank’s digital transformation
Intellect Design Arena Ltd.’s shares were up by 0.07 per cent after the company reported that its transaction banking specialist, Intellect Global Transaction Banking (iGTB) with Jordan Kuwait Banks implemented a fully integrated Corporate Banking platform. It is powered by eMACH.ai…
Net profit for Sify remains flat in Q4; saw a steep decline in FY24
Sify Ltd, the Chennai-based ICT service and solution provider, reported a consolidated net profit of ₹3.8 crore for the fourth quarter ended March 31, 2024, as against ₹3.4 crore in the same quarter last year. Revenue was up 8 per…
Suraj Estate Ltd.’s shares up on entry into residential development in Bandra
Suraj Estate Developers Limited’s shares were up by 0.93 per cent after the company announced its foray into the residential real estate development in the Bandra sub-market. The company reported the move marks expansion for them, which is known for…
2024 Elections: Profit booking post-elections coming anyway, Bernstein
Foreign Brokerage Bernstein, part of Societe General Group, sees profit booking post-elections in the Indian equity markets coming anyway, noting that the election results will only serve as a trigger point for the inevitable. Also read:Indices tumble over 1% on…
F&O Tracker: Bounce Back Prospects Emerge in Indices
Nifty 50 (22,147) and Bank Nifty (47,574) lost 1.7 per cent and 2 per cent respectively last week. Consequently, the futures contract of these indices too fell. Below is an analysis of futures and options data and projection for this…
Premier Energies to float IPO, to raise ₹1,500 crore
Premier Energies Limited, an integrated solar cell and solar module manufacturer with an annual installed capacity of 2 GW and 3.36 GW respectively, has filed the draft red herring prospectus (DRHP) with SEBI to raise over ₹1,500 crore through an…
Sachetisation of mutual funds, a small step in right direction
The sachet — till now identical with shampoos, pickles, kumkum and a host of other consumable products — will soon see a new product packed into it. Yes, small-amount mutual funds will hit the market soon, if the wishes of…
Broker’s call: Senco Gold (Buy)
Target: ₹1.277 CMP: ₹954.80 An all-India retailer of gold and diamond jewellery at various prices, Senco Gold has major market share in East with ~79% of its store presence (FY23) in the east India. With its focus on light-weight jewellery…
Mahindra Logistics announces launch of Community Centre of Excellence
Mahindra Logistics Ltd has announced plans to launch Community Centre of Excellence (CCoE) in partnership with Logistics Skill Council, a non-profit set up by the Ministry of Skill Development & Entrepreneurship, to address the shortage of skilled workers in the…