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 price for long-term gains. “We recommend investors to subscribe to the issue at cut-off price […]
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 few weeks, the stock seems to have gained good momentum, leading to it breaking above […]
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 of 35.2 per cent on a y-o-y. During the quarter, developed market revenue showcased a […]
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 the domestic market, weak Q2 earnings and stretched valuations. The BSE benchmark Sensex hit its […]
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 fresh issue of around ₹350 crore and an Offer for Sale by earlier shareholders, said […]
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 — will remain shut on November 15. The exchanges will resume regular operations on Monday, after […]
Niva Bupa Health Insurance Company shares declined 1.95 per cent to ₹76.62 on NSE by 10.30 am on Thursday, after listing at a premium earlier in the day. The stock debuted at ₹78.14 on NSE and ₹78.50 on BSE, marking a 5.5-6 per cent premium over its issue price of ₹74. Trading data showed buy […]
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 Nifty weekly contracts. October retail inflation soared to a 14-month high of 6.2 per cent, […]
Gaming company Nazara Technologies announced today its integration with the Open Network for Digital Commerce (ONDC) to launch “gCommerce,” a platform that enables e-commerce within games. The new platform aims to help game developers overcome low in-app purchase conversion rates by creating additional revenue streams through affiliate marketing. The shares of Nazara Technologies Limited were […]
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 3-5 per cent and expect Doms to double its earnings over FY24-27. Doms completed the […]
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 from the issue price on both the BSE and NSE. Later, it jumped 7.2 per […]
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 1. The QSBs’ clients will have the option to either continue with the existing facility […]
Hindalco Industries, an Aditya Birla Group company, is expected to report 65 per cent rise in September quarter net profit at ₹3,625 crore against ₹2,196 crore logged last year, despite a weak performance by its wholly-owned US subsidiary Novelis plc. Revenue is expected to jump 6 per cent to ₹57,704 crore (₹54,169 crore), as per […]
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 was booked 41 per cent and the retail investor’s portion was subscribed 1.14 times. The […]
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 cent q-o-q, +20.8 per cent y-o-y) at ₹22,800 crore led by healthy disbursements of ₹2,040 […]
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 negative with net outgo between January 1 to November 8 at ₹13,401 crore, data with […]
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 25-30 per cent with disbursements up 26 per cent y-o-y and 39 per cent q-o-q […]
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 at risk. Amid growing concern over the potential risks associated with unregulated finfluencers, the Securities […]
Impacted by weakness in passenger and commercial vehicle demand, Indian automaker Tata Motors’ revenue is expected to decline in Q2. According to analysts, during the quarter Tata Motors was also impacted by weakness in JLR demand and supply constraints. “Consolidated INR revenue to decrease c4 per cent year-on-year on weakness in JLR, PV and CV […]
Target: ₹580 CMP: ₹513.10 Saregama India’s strong headline numbers masked the weakness in music licensing revenue. Consolidated revenue grew 40.3 per cent y-o-y, aided by strong growth in the video segment. Music Licensing revenue growth was soft, up 8 per cent y-o-y in Q2, despite the impact of select platforms moving to a paid model […]
Indian benchmark indices opened lower on Thursday, taking a breather after the previous day’s sharp rally, as investors assessed the implications of Donald Trump’s return to the White House and awaited the US Federal Reserve’s policy decision. As of 9.45 am, both the Sensex and Nifty indexes are experiencing slight declines. The Sensex opened at […]
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 at over $67 billion. In the same period last year, sell-downs aggregated to a little […]
The Rs 2,900-crore initial public offering of ACME Solar Holdings open for subscription for all investors today and will close on November 8. The IPO comes with a price band of ₹275-289 a share. The IPO is a combination of fresh issue of ₹2,395 crore, and an offer-for-sale of ₹505 crore by promoter ACME Cleantech Solutions. […]
There is going to be a substantial change or decrease in derivative volumes, specifically index options, going forward, the NSE chief said on Tuesday. The discontinuance of Bank Nifty weekly expiry will contribute the most to a decline in overall option index volumes, Ashishkumar Chauhan said in an analyst call. However, he reiterated that only […]
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The Securities and Exchange Board of India (SEBI) has passed an interim order directing the suspension of Aravind Maiya, from acting as the chief executive officer of Embassy Office Parks Management Services, the manager to Embassy Office Parks REIT, in connection with the audit of a funds diversion case by Coffee Day Enterprises. The regulator […]
ALL UPDATES November 04, 2024 10:09 Afcons Infrastructure shares listing: Shares of Afcons Infrastructure list at over 7% discount Shares of Afcons were listed on the NSE at ₹426 and at ₹430 on the BSE, as against the issue price of ₹463. November 04, 2024 09:56 Stock market today live: Sensex, Nifty trades in red […]
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 said. In an eventful week ahead, a host of macroeconomic data announcements and global trends […]
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 from ₹9.88 lakh crore in the June quarter. In fact, SBI MF is the only […]
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 chart, the bias is negative with a strong resistance in the ₹32-34 region. As long […]
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 companies have announced their results. Nine reported profits that were below expectation, while 10 posted […]
The benchmark Sensex rose by 335.06 points, or 0.42 per cent, to settle at 79,724.12 in a special Muhurat trading session on Friday, starting the new Samvat 2081 on a high note. Stock exchanges BSE and NSE conducted a special Muhurat trading session from 1800 hrs to 1900 hrs on Friday to mark the beginning […]
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 that it will acquire a per cent stake in a 400-bedded hospital in Faridabad for […]
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 30-share BSE Sensex ended at 79,389.06, down 0.69 per cent, while the broader NSE Nifty […]
India’s HDB Financial Services, the non-banking lending unit of HDFC Bank, has filed for an initial public offering of up to ₹12,500 crore, in line with its parent’s announcement earlier this month. HDFC Bank, which holds a 94.6 per cent stake in the lender, will sell shares worth up to ₹10,000 crore, while HDB Financial […]
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 investors comments on SIDs for five days and wants MFs to file final documents in […]
Domestic markets are expected to open flat on Wednesday, indicates trading in Gift City. Nifty futures at Gift Nifty is ruling at 24,435 against Nifty futures Tuesday’s closing of 24,477. Analysts expect volatility to increase ahead of F&O expiry on Thursday. Amidst result season, the action will be stock-specific, they added. According to Rajesh Bhosale, […]
Shares of Elcid Investments, an investment company, rose a staggering 6.7 million per cent on Tuesday to ₹2,36,250 apiece, surpassing MRF as the highest-priced stock in India in absolute terms. This was after a special call auction “with no price bands” was held for the stock that last traded at ₹3.5 per share, and has […]
The initial public offering of Afcons Infrastructure, flagship infrastructure, engineering, and construction company of the Shapoorji Pallonji group, closes today for public subscription. The IPO, so far, has received only a lukewarm response from investors. At the end of Day 2, the issue undersubscribed at just 0.36 time. The ₹5,430-crore IPO consists of a mix of […]
Target: ₹1,500 CMP: ₹1,292.65 ICICI Bank has reported six glorious years of performance since Sandeep Bakhshi took charge as MD & CEO on October 15, 2018. The bank has consistently beaten street estimates on one or the other metric, even as the macro environment changed considerably over the years. Just when it seems that the […]
The initial public offering of Afcons Infrastructure, flagship infrastructure, engineering, and construction company of the Shapoorji Pallonji group, enters day 2. The IPO saw a muted response on Friday. The ₹5,430-crore IPO consists of a mix of fresh issues of up to ₹1,250 crore and an offer of sale of up to ₹4,180 crore by the promoter. […]
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 on Sunday. BlackRock and Canada Pension Plan Investment Board (CPPIB) will invest in the $1.4 […]
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 that FIIs have been reducing their exposure to Indian markets significantly, with October witnessing one […]
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 did not sustain. The scrip resumed the fall after facing a resistance at ₹450 and […]
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 market in October nudged past ₹1 lakh crore, the first time this figure has been […]
Target: ₹349 CMP: ₹331.70 Nuvoco Vistas Ltd Q2-FY25 volumes came at 4.2 mt, down 6.7 per cent y-o-y and 12.5 per cent q-o-q, impacted due to extended monsoon season and less than expected govt spends. Revenue for quarter came at ₹2,268.60 crore, down 11.8 per cent y-o-y and 14 per cent q-o-q. EBITDA/t for the […]
The board of Coromandel International has approved an investment outlaynof around Rs 800 crore to expand its fertiliser manufacturing capacity and set up plants to make fungicides. The company will enhance granulation capacity by 7.5 lakh tons per annum for manufacturing of complex and unique fertilisers at Kakinada, Andhra Pradesh. It will also set up […]
Indian equity benchmarks settled marginally lower on Thursday, with the Sensex closing at 80,065.16, down 16.82 points or 0.02 per cent, while the Nifty 50 declined 36.10 points or 0.15 per cent to end at 24,399.40, marking the third consecutive session of losses. Ultratech Cement led the gainers on the National Stock Exchange, rising 2.66 […]
Sensex, Nifty, Share Prices LIVE: The near-term outlook is bullish for Varun Beverages. The stock has surged over 5 per cent on Wednesday. It has been moving up over the last two days when the broader markets are falling. Supports are at ₹620 and ₹610. Any intermediate dips are likely to be limited to ₹610 […]
Target: ₹1,070 CMP: ₹1,009.30 360 One WAM had a strong quarter with the recurring AUM growing 41 per cent y-o-y (+10 per cent q-o-q) to ₹2.4 lakh crore, with its 360 One Plus business posting the highest growth. The net flows remained strong at ₹9,800 crore in Q2-FY25 (₹15,300 crore for H1-FY25) and we increase […]
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 individual investors, it also necessitates caution and the need for continuous investor education,” Ashwani Bhatia, […]
India’s online travel platform EaseMyTrip has teamed up with AutoTech company CARS24 in a promotional partnership running from October 15-22, 2024. Under the collaboration, one EaseMyTrip customer will win a pre-owned car valued between ₹3-5.5 lakhs, while CARS24’s highest spender during the campaign period will receive a complimentary Goa vacation package. The shares of Easy […]
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 of September 28, the return from equity schemes has moderated to 33.48 per cent as […]
Indian benchmark indices retreated from their early gains to close marginally lower on Monday, with broader markets facing steeper declines amid profit booking and mixed global cues. The BSE Sensex slipped 73.48 points to close at 81,151.27, while the NSE Nifty declined 72.95 points to end at 24,781.10. “The Indian benchmark indices started the day […]
Tiger Global and late Ratan Tata backed Upstox aims to empower retail traders with the launch of its Tick-by-Tick (TBT) Engine, designed to democratize trading access and help traders truly “Trade Right’ in the equity markets. Launch of TBT Engine is seen as huge enabler as it democratises information access for retail traders, who unfortunately […]
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 an option of early closure in case of early over subscription. The Secured NCDs come […]
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 FPI inflows reached a nine-month high of ₹57,724 crore. October’s massive FPI outflows are driven […]
Shapoorji Pallonji Group’s infrastructure engineering and construction company Afcons Infrastructure Ltd (AIL) is gearing up to launch its ₹5,430-crore initial public offering (IPO) on October 25. The initial share sale will conclude on October 29 and the bidding for anchor investors will open for a day on October 24, according to the red herring prospectus […]
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 across KIMS’ existing 12 hospitals and four upcoming facilities. The shares of the Krishna Institute […]
Elecon Engineering Company Limited, Asia’s leading industrial gear manufacturer, today reported a mixed performance for the second quarter ended September 30, 2024. The company posted a consolidated revenue of ₹508 crores, marking a 4.8 per cent year-on-year growth, while net profit slightly declined by 1 per cent to ₹88 crores. The shares of Elecon Engineering […]
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 is well-positioned to capitalize on the large pipeline of refinery & petrochemical capex in India, […]
Hi-Tech Pipes Limited, a major Indian steel tubes and pipes manufacturer, today announced the commencement of its 5 MW captive green power utilisation project. The initiative combines 3 MW from a Group Captive open-access Solar Project and 1 MW from a new rooftop solar installation at its Sanand Unit II Phase 1. The shares of […]
Waaree Energies, solar panel maker, on Wednesday, set a price band of ₹1,427-1,503 for its upcoming IPO that will open on October 21 and end on October 23. The ₹4,321.44-crore IPO is a combination of a fresh issue worth ₹3,600 crore and an offer for sale (OFS) of 48 lakh shares worth ₹721.44 crore by […]
Nupur Recyclers Limited (NRL) announced today its expansion into aluminium extrusion manufacturing through a ₹180 million investment in its subsidiary, Nupur Extrusion Private Limited. The move aims to capitalise on the growing demand for recycled materials in the solar energy and construction sectors. The shares of Nupur Recyclers Limited (NRL) were trading at ₹137.63, down […]
Hindustan Unilever Limited (HUL) has filed an appeal against a recent tax assessment order that demanded ₹962.75 crores, including interest of ₹329.33 crores. The appeal was filed with the Commissioner of Income-tax (Appeals) in Mumbai on October 9, 2024, following the dismissal of a writ petition challenging the original order. The shares of Hindustan Unilever […]
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. This growth was driven by younger investors, with over 50 per cent of contributors under the […]
Wipro Limited, a technology services and consulting company, is set to release its financial results for the second quarter ended September 30, 2024, on Thursday, October 17, 2024. The announcement will be made after stock market trading hours in India. The company is also set to consider Bonus Issue of shares. The shares of Wipro […]
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 BSE benchmark fell 307.09 points, or 0.37 per cent, to 81,381.36. The market valuation of […]
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 trade. Showing a similar trend, the broader Nifty fell 64.1 points to 24,934.35. From the […]
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 other related ancillary sectors for investors who want long-term capital appreciation. The NFO opened on […]
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 analysts, enabling a streamlined and risk-mitigated investment experience. The initiative simplifies the investment process, allowing […]
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 the BSE, stock of TCS went down by 1.84 per cent to end at ₹4,150.60 […]
Shares of private lender Bandhan Bank rose over 10% 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 approved the appointment of Partha Pratim Sengupta as CEO and managing director of the bank. He will […]
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 will be discontinued from November 14, Nifty Midcap Select from November 19 and Nifty Financial […]
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 came out with a price band of ₹92-95 a share. The ₹264-crore IPO consist of […]
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 in terms of issue size were subscribed less than five times overall on the final […]
Indian stock markets opened higher on Wednesday, breaking a six-day losing streak, as investors eagerly awaited the Reserve Bank of India’s (RBI) monetary policy decision later in the day. The RBI Monetary Policy Committee decided to retain the repo rate. The benchmark Nifty 50 index opened at 25,065.80, up from its previous close of 25,013.15, […]
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 million shares by promoters and existing shareholders. The offer also includes a reservation for a […]
Kazakhstan’s low-cost airline FlyArystan has renewed its contract with RateGain Travel Technologies Limited for the use of AirGain, a pricing intelligence solution for airlines. The partnership, announced today, aims to strengthen FlyArystan’s competitive rate intelligence and enhance passenger experience. The shares of RateGain Travel Technologies Limited were trading at ₹730.60 up by ₹2.80 or 0.38 […]
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 after. The Sensex ended 638 points or 0.78 per cent lower at 81,050. The Nifty […]
Indian stock markets opened higher on Monday, mirroring gains in global equities and shrugging off last week’s sharp declines. The benchmark Sensex opened at 81,926.99, up from its previous close of 81,688.45, while the Nifty50 began trading at 25,084.10, higher than Friday’s close of 25,014.60. The positive start comes after a tumultuous week that saw […]
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 from depositories showed FPIs net sold ₹27,142 crore worth of Indian stocks between October 1-4, […]
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 fall from the high of ₹875 made in September is a correction within the broad […]
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 army would be siding with the Kauravas. The current situation in the market isn’t dissimilar. […]
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 benchmarking of PMS strategies, mutual fund schemes and fund portfolios, Asia Index said in a […]
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 into India-dedicated funds, on the other hand, decelerated to $107 million, compared to an average […]
Bank Nifty opened today’s session lower at 51,644 versus yesterday’s close of 51,845. The index is now hovering around at 51,860. The advance/decline ratio stands at 9/3, giving the index a bullish bias. Bank of Baroda, up 2 per cent, is the top gainer whereas HDFC Bank, down 0.5 per cent, is the top loser. […]
Target: ₹2,100 CMP: ₹1,580.65 Route Mobile is set to witness a growth uptick after the completion of the strategic acquisition by Proximus Opal. The growth recovery (~20% in FY25E vs 13 per cent in FY24) is underpinned by a recovery in messaging volume (ILD & NLD), a net new firewall deal, WhatsApp/RCS opportunities, and expansion […]
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 Sykes & Ray Equities (I) Ltd, brings extensive financial expertise, including M&A, corporate finance, and […]
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 boasts a geographically diverse revenue base, drawing from markets including the US, EU, India, and […]
The Indian stock market ended marginally lower on Tuesday, October 1, 2024, after a volatile trading session marked by sector-specific movements. The benchmark Nifty 50 index closed at 25,796.90, down 13.95 points or 0.05 per cent, while the BSE Sensex settled at 84,266.29, shedding 33.49 points or 0.04 per cent. Despite the subdued performance of […]
Max Estates Limited has reported pre-sales bookings of approximately ₹4,100 crore for its first residential development in Gurugram, Estate 360, within 30 days of its launch. The company announced today that it has revised its Gross Development Value (GDV) guidance for the project from ₹4,000 crore to ₹4,800 crore for FY25. The shares of Max […]
Stock broker firm Angel One has settled allegations of frontrunning of orders of a big client by one of its authorised persons by paying ₹21,64,500. The market regulator’s settlement order added that the brokerage has also “submitted details of the corrective action/ measures put in place by it to prevent re-occurrence of similar violations.” In a […]
The combined market valuation of eight of the top-10 most valued firms surged ₹1,21,270.83 crore last week, with Reliance Industries becoming the biggest gainer, in line with an outstanding rally in benchmark equity indices. Last week, the BSE benchmark jumped 1,027.54 points or 1.21 per cent. The BSE Sensex hit its record high of 85,978.25 […]
Twenty companies have filed their draft offer documents for initial public offerings (IPOs) in September, the most number of filings in a month this year and the third highest in a decade. The number of filings this year stood at 106, more than any other calendar year, if the first nine months are considered. The […]
Stock exchanges on Friday deferred the voluntary implementation of the T+0 or same-day settlement cycle of securities for institutional clients, which was supposed to apply from September 30. Apart from lacklustre volumes from retail investors, foreign portfolio investors have resisted a move to T+0 even on an optional basis, said people in the know. For […]
The bulk of net inflows from foreign portfolio investors (FPIs) into India this year has come from the US and Singapore. The two countries have contributed nearly ₹2 lakh crore, in terms of net investment in CY24, with flows from the former totalling ₹1.24 lakh crore and the latter funnelling in ₹73,768 crore. Over 93 […]
Target: ₹260 CMP: ₹221 We initiate coverage on Karur Vysya Bank (KVB) with BUY rating on account of the following key reasons: KVB has a healthy sustainable margin profile, being underpinned by a strong liability franchise, typified by industry-low SA (savings account) card rates; KVB has effected a growth turnaround through digital under-writing; credit cost […]
After a stupendous rally, defence stocks have crashed on concern over their high valuation amid weak earnings growth last quarter. The Nifty India Defence index fell 19 per cent to 6,707 points from a high of 8,302 points in July. Most of the 15 stocks of Nifty India Defence index have registered a double digit […]
rkade Developers IPO Listing/ Arkade Developers Share Price Updates 24 Sep 2024: Shares of Arkade Developers were listed on stock exchanges today. Arkade Developers closed below ₹170 mark, lower by 6%, after listing at a premium of 37% against the issue price. The IPO was subscribed 106.40 times, attracting all categories of investors. The company […]
Target: ₹345 CMP: ₹263.05 Key factors underpinning UGRO Capital’s positive outlook include: a significant opportunity in MSME lending; superior productivity metrics, highlighting the scalability of its business model; advanced systems and data analytics that bolster asset quality management; a focus on co-lending and co-origination, which enhances capital efficiency, AUM growth, and profitability; and an upward […]
The Indian stock market continued its upward trajectory on Monday, September 23, 2024, with both benchmark indices closing at fresh all-time highs. The BSE Sensex surged 384.30 points or 0.45 per cent to close at 84,928.61, while the Nifty 50 soared 148.10 points or 0.57 per cent to end the day at 25,939.05. The market […]
Bikaji Foods International (₹948.2) Bull flag breakout The stock of Bikaji Foods International has been in an uptrend since its listing in November 2022. There have been intermittent corrections and sideways consolidations since then. The latest being the horizontal movement it has been making between ₹820 and ₹900 over the past month. Last week, it broke […]
Long-term investors with a minimum time frame of one year can buy the shares of Bajaj Finserv (₹1,917) now. The stock has been in a strong uptrend since May 2020. After making a high of ₹1,932 in October 2021, the share price started to fall and ran into a correction phase for more than two […]
I have shares of Concor. My purchase price is ₹1,025. What is the outlook for the next one year? Siyaram Khandelwal Container Corporation of India (₹893.45): The stock has been in a strong downtrend since June this year. It made a high of ₹1,180 in early June and has come down sharply from there. The downtrend […]
Target: ₹7,500 CMP: ₹7,197.15 Rating industry’s revenue growth can sustain above 10-12 per cent over the coming years aided by ongoing infrastructure investments, pick-up in private sector capex cycle, sustained growth of NBFCs/HFCs, widened participation (including more issuers) in bond markets with country’s inclusion in global indices and incremental funding shift and refinancing through bond […]
Target: ₹3,300 CMP: ₹2,547.15 Mankind Pharma’s vision to be an innovation-driven and differentiation-focused with high entry barrier products has found a match in Bharat Serums and Vaccines (BSV). We believe BSV has the potential to drive growth for longer periods and BSV’s Specialty strengths (R&D and sourcing as moats) would further Mankind’s vision. Mankind’s strong […]
Adani Ports and Special Economic Zone Ltd (APSEZ) , has signed a Memorandum of Understanding (MOU) with Rorix Holdings, an Abu Dhabi-based trade facilitation and finance company. The agreement, announced today, aims to integrate advanced technologies in their logistics and trading platforms, potentially revolutionising the commodities market ecosystem. Adani Ports shares were trading at ₹1,439.40 […]
Target: ₹1,175 CMP: ₹967.30 We upgrade Tata Motors (TTMT) to Buy from Add, keeping our SoTP-based TP unchanged at ₹1,175/share (incl. roll-over to Sep-26E). TTMT stock price has corrected 16 per cent from its peak, amid outlook downgrade at peer BMW (incl. due to muted China demand; link), and slowness in domestic CVs/PVs (incl. rising […]
The Indian stock market closed higher on Thursday, September 19, 2024, with the BSE Sensex ending above the 83,000 level. The benchmark index hit an all-time high, gained 236.57 points or 0.29 per cent to close at 83,184.80, while the Nifty rose 38.25 points or 0.15 per cent to finish at 25,415.80. The market’s positive […]
Fifty of the 78 announcements by the US Federal Reserve in the last 34 years has led to a positive change in Nifty the following trading day. The median Nifty return on the day after the Fed announcement is -0.2 per cent, a study by Capitalmind Financial Services said. The Fed announced a 50- basis […]
Heritage Foods Limited announced that its board has approved its plan to establish a new ice cream manufacturing facility in Shamirpet, Telangana. The ₹204 crore project aims to expand the company’s production capacity to meet the growing regional demand for ice cream. The shares of Heritage Foods Limited were trading flat at ₹578.80 on the […]
Target: ₹839 CMP:₹726.4 In Q1FY25, Awfis Solutions (Awfis) began to deliver on its two main FY25 guidance parameters: 30 per cent+ revenue growth for FY25 and expansion in IGAAP EBITDA margin at 11.5-12 per cent. With an overall operational and committed pipeline of 127,726 seats (over one lakh operational), we expect continued growth ahead. Awfis’ […]
Indian stock markets closed marginally higher on Tuesday, with the BSE Sensex ending at 83,079.66, up 90.88 points or 0.11 per cent, and the Nifty 50 closing at 25,418.55, gaining 34.80 points or 0.14 per cent. The slight uptick came amid cautious trading as investors awaited key policy decisions from global central banks. Among Sensex […]
The Indian stock markets closed marginally higher on Monday, with both BSE Sensex and NSE Nifty 50 recording modest gains in a session characterized by mixed sectoral performance and range-bound trading. The Sensex concluded the day at 82,988.78, up 97.84 points or 0.12 per cent, while the Nifty 50 gained 27.25 points or 0.11 per […]
Shyam Metalics and Energy Ltd. (SMEL) commenced operations of Phase-I of its new greenfield Cold Rolling Mill (CRM) in Jamuria, West Bengal, today. The facility, with a total planned capacity of 400,000 tonnes annually, is part of a ₹603-crore project aimed at expanding the company’s product portfolio. The shares of Shyam Metalics and Energy Ltd. […]
Solarium Green Energy, a turnkey solar solution provider and comprehensive O&M services company, has filed its Draft Red Herring Prospectus with BSE SME to issue 55 lakh equity shares through initial public offering. The objective of the issue is to meet working capital requirements and to address general corporate purposes. The company reported revenue of […]
Nine of the top-10 most valued firms together added ₹2,01,552.69 crore in market valuation last week, with Bharti Airtel stealing the show, amid bullish investors’ sentiment in equities. Reliance Industries was leading the chart of the top-10 most valued firms followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan […]
Target: ₹2,010 CMP: ₹1,812.95 We attended Tega Industries Limited (Tega) Analyst Meet represented by MD CEO Mehul Mohanka and CFO Sharad Khaitan to understand the current business updates and future prospects ahead. During the meeting, management highlighted on the various aspects of the business both on the consumables as well as the equipments side and […]
Target: ₹770 CMP: ₹614.50 India’s current air conditioner (AC) penetration is around 8-10 per cent of 300 million households, but it’s expected to reach 50 per cent by 2037. Factors like low AC penetration, falling prices, and changing consumer lifestyles are driving demand in the electronics industry. PG Electroplast offers a wide range of air […]
Securities and Exchange Board of India (SEBI) has disposed of proceedings against the National Stock Exchange (NSE) and its employees in the alleged co-location case. The case relates to the alleged preferential access given to certain broking firms in the form of ‘dark fibre’ at the National Stock Exchange (NSE) to connect across the colocation […]
The Great Eastern Shipping Company Limited (GE Shipping) announced today it has contracted to sell its 2005-built Suezmax Crude Tanker, Jag Lalit. The vessel, with a capacity of approximately 158,344 deadweight tonnage (dwt), will be delivered to an unaffiliated third party by the third quarter of fiscal year 2025. The shares of Great Eastern Shipping […]
The deluge of feedback received on its July consultation paper to strengthen the index derivatives framework may make it tricky for the market regulator to arrive at the final norms and prompt a rethink on at least some of the seven proposed changes, said market watchers. The proposals are likely to be taken up by […]
Equity benchmark indices Sensex and Nifty rebounded in early trade on Thursday tracking a rally in global markets and foreign fund inflows. The 30-share BSE Sensex jumped 428.83 points to 81,951.99 in early trade. The NSE Nifty climbed 154.1 points to 25,072.55. Among the 30 Sensex firms, Tata Steel, Adani Ports, Bharti Airtel, Tech Mahindra, […]
Target: ₹ 6,030 CMP: ₹ 5,292.50 Investors have little doubt on Persistent Systems (PSYS) growth momentum. They are not wrong. Such has been the strength of PSYS’ recent deal wins (LTM ACV: +15% YoY) that it merely needs to maintain current ACV/ leakage levels to achieve our FY25E USD revenues (+17 per cent). Our recent […]
Latteys Industries Limited announced it has received a work order worth approximately ₹3 crore plus GST from original equipment manufacturers (OEMs) to supply solar submersible pumps to the Maharashtra State Electricity Distribution Company Limited (MSEDCL) under the Kusum Yojana scheme. The order is to be executed within three months from the letter of award The […]
The Finance Ministry intends to bring clarity in qualification norms for stockbrokers. Accordingly, it has come out with a consultation paper for changes in Securities Contracts (Regulation) Rules, or SCRR, 1957. “Given the growth in the scale and interconnectedness of the financial sector and the evolution of brokerage business from a traditional brick-and-mortar model to […]
The Congress on Tuesday claimed that SEBI chairperson Madhabi Buch had a 99 per cent stake in a firm that provided consultancy services to the Mahindra and Mahindra Group, and her husband received ₹4.78 crore as income from the conglomerate while she was adjudicating cases of the same group. Congress general secretary in charge of […]
Target: ₹1,700 CMP: ₹1,368.90 We are initiating coverage on VA Tech Wabag Ltd. (VTW) with a Buy recommendation and a target price of ₹1,700/share. Regulatory bodies worldwide are allocating additional resources towards the conservation of water sources and implementing stricter regulations to minimize the impact of industrial waste on water bodies. This has led to […]
Thomas Cook (India) Limited and SOTC Travel have signed a 24-month strategic partnership with Malaysia Aviation Group, the parent company of Malaysia Airlines. The Memorandum of Understanding was inked today in Kuala Lumpur by representatives from both parties. The shares of Thomas Cook (India) Limited were trading at ₹213.04 up by ₹0.42 or 0.20 per […]
Shares of Rekha Jhunjhunwala-backed Baazar Style Retail, a value fashion retailer, on Friday made a flat market debut, listing at par with the issue price of ₹389 and later ended the day nearly 3 per cent higher. The stock got listed at ₹389 on both the BSE and the NSE. During the day, it jumped […]
Monthly inflows in Systematic Investment Plans (SIPs) of mutual funds could nearly double to about ₹40,000 crore by December 2025, Swarup Mohanty, Vice-Chairman & CEO, Mirae Asset Investment Managers (India), has said. This is against SIP inflows of ₹23,332 crore seen in July 2024. In May 2018, monthly inflows were just ₹7,304 crore. “If the […]
Indian stock markets opened September on a strong note, supported by robust investments from foreign investors during the first week of the month .According to data from the National Securities Depository Limited (NSDL), Foreign Portfolio Investors (FPIs) made net investments totalling ₹10,980 crore during the first week of September. However, on Friday, FPIs registered a […]
As India beats China in the MSCI Emerging Markets Investable Market Index (MSCI EM IMI), Indian equities may get up to $4.5 billion, official sources said on Friday. Earlier, Morgan Stanley said that India’s weight in the index now stands at 22.27 per cent as compared to China’s 21.58 per cent. “Key factors contributing to […]
Notwithstanding the concerns all around, including the market regulator SEBI, 50 small and medium enterprises have filed papers with NSE Emerge and BSE SME last month to tap the market for raising capital. The SMEs rush to tap the market was on top of about 55-70 companies that will hit the market in this month […]
Stock Market Today: Sensex plunges over 900 points as metal stocks shine amid broader market decline
The Indian stock market witnessed a significant downturn on Friday, with the benchmark Sensex tumbling over 900 points in afternoon trading. As of 1:12 PM, the 30-share BSE Sensex was down 936.14 points or 1.14% at 81,265.02, after opening at 82,171.08. The broader NSE Nifty also faced selling pressure, declining 277.45 points or 1.1% to […]
Dilip Buildcon Limited (DBL) has emerged as the lowest bidder (L-1) for a major infrastructure project in Kerala. The company announced on September 5, 2024, that it had been declared L-1 for constructing a twin-tube unidirectional tunnel in the Kozhikode and Wayanad districts. The project, valued at ₹1,341 crore including GST, was floated by Konkan […]
The Indian stock markets showed a slight downturn in Thursday afternoon trading, with both the Sensex and Nifty registering marginal losses. As of 1.20 pm, the Sensex was trading at 82,250.23, down 102.41 points or 0.12 per cent from its opening value of 82,469.79. Similarly, the Nifty stood at 25,168.75, declining by 29.95 points or […]
Kotak Securities Target: ₹550 CMP: ₹416.60 We initiate coverage on Aadhar Housig Finance with a Buy rating and RGM-based FV of ₹550/share. Aadhar stands out versus most affordable peers due to a larger balance sheet, longer vintage and superior RoEs. On the other hand, its loan growth (21 per cent CAGR during FY2024-27E) is comparable […]
Indian equity markets faced a sharp downturn on Wednesday, mirroring weakness in global markets and concerns over a potential U.S. economic slowdown. The BSE Sensex plunged 406.86 points or 0.49 per cent to trade at 82,148.58, while the Nifty 50 dropped 144.40 points or 0.57 per cent to 25,135.45 as of 1 pm. Shrey Jain, […]
The day was marked by a number of block deals and a few that caught the eye was that of AU Small Finance Bank, Medi Assist Healthcare Services and Signature Global. Westbridge AIF I sold 1.5 per cent stake in AU Small Finance Bank at ₹676.06 apiece for an aggregate of over ₹743 crore on […]
The Indian stock market, which opened on a positive note, has reversed direction by early afternoon, with both the Sensex and Nifty trading in the red. As of 1 pm, the Sensex is down 46.51 points, or 0.06 per cent, at 82,513.33, while the Nifty is down 9.05 points, or 0.04 per cent, at 25,269.65. […]
Target: ₹5,230 CMP: ₹4520.85 Tata Consultancy Services (TCS) has been consistently delivering resilient performance for past several quarters despite the challenging environment. TCS has reported a solid performance in Q1, with sequential growth returning in some of the lagging verticals, especially BFSI. Further spends in BFSI towards mitigating the risk associated with legacy systems, strengthening […]
The Indian stock markets exhibited mixed performance by early afternoon on September 2, 2024. The Sensex opened at 82,725.28 but dipped slightly to 82,502.59, marking a gain of 136.82 points or 0.17 per cent by 1.07 PM. Similarly, the Nifty started the day at 25,333.60, but saw a slight dip, trading at 25,259.35 by 1.06 […]
After a strong performance in recent months, PSU stocks are now tumbling across the board due to concerns about overvaluation, slowing earnings growth, and mandatory dividend payouts. In the last one year, PSU stocks have witnessed a sharp rally riding on bullish sentiments and monopoly business. The BSE PSU index gained over 90 per cent […]
Bajaj Housing Finance is set to float its much-awaited ₹6,560-crore initial share-sale for public subscription on September 9. The initial public offering (IPO) will conclude on September 11 and the bidding for anchor investors will open for a day on September 6, according to the red herring prospectus (RHP). The proposed IPO comprises a fresh […]
When we last wrote on Amara Raja in early June 2023, the company was still Amara Raja Batteries, and we recommended a ‘buy’ on the stock due to its very reasonable valuation of 15 times its trailing 12-month earnings as well as plans to remain relevant in the era of electric vehicles (EV). Fast forward […]
Eighteen companies have filed their draft offer documents for initial public offerings (IPOs) in August, the most number of filings in a month this year and the third highest in a decade. Top filings this month include JSW Cement, International Gemmological Institute, Hero Fincorp, and Manjushree Technopack. Each of these firms may raise ₹3,000-4,000 crore. […]
SEBI has revised the eligibility criteria for entry and exit of stocks in the derivatives segment. A stock’s median quarter sigma order size and its market wide position limit over the previous six months, on a rolling basis, should not been less than ₹75 lakh and ₹1,500 crore, respectively. The requirements for both these criteria […]
Mahindra Group and Sentrycs Ltd have signed a Memorandum of Understanding (MoU) to explore opportunities for developing and providing anti-drone solutions in India. The partnership, announced today, aims to create technology for both civilian and military applications under the ‘Make in India’ initiative. The shares of Mahindra and Mahindra Limited were trading at ₹2,814.25 up […]
The initial public offer of solar cell and module manufacturer Premier Energies got subscribed 74.09 times on the last day of subscription on Thursday. The ₹2,830 crore initial share sale received bids for 3,30,76,25,013 shares against 4,46,40,825 shares on offer, according to an update with the NSE. The portion for Qualified Institutional Buyers (QIBs) attracted […]
HCLTech shares have climbed 1.55 per cent to ₹1,746.10 on the NSE following positive analyst reports. Morgan Stanley maintained an Overweight rating with a target price of ₹1,705, citing the management’s positive near-term outlook, particularly in the financial services vertical. The firm noted HCLTech’s balanced portfolio and focus on wallet share gains. Jefferies reiterated a […]
The Securities and Exchange Board of India (SEBI) on Wednesday proposed an overhaul of merchant bankers’ regulations amid a boom in the equity capital market. In a consultation paper floated on Wednesday, the regulator suggested a sharp hike in the net worth and provided more clarity on the roles and responsibilities of investment bankers — […]
Mastek Limited, a digital engineering company, announced a strategic partnership with Onyx Health today, to accelerate healthcare data interoperability. The collaboration aims to expedite the adoption of Fast Healthcare Interoperability Resources (FHIR) standards and provide health plans with compliance solutions for CMS-9115 and CMS-0057 regulations. The shares of Mastek Limited were trading on the BSE […]
MThe Association of Mutual Funds in India (AMFI) has put out minimum standards to prevent front running and market abuse by asset management companies (AMCs). Earlier this month, SEBI had come out with a circular asking AMCs to put in place an institutional mechanism to deter such activities. The standards will be implemented phase-wise beginning […]
Medi Assist Healthcare Services Limited saw its shares rise by 8.88 per cent, reaching ₹610.90, after it was announced that its subsidiary Medi Assist Insurance TPA Private Limited is acquiring a 100 per cent stake in Paramount Health Services & Insurance TPA Private Limited for ₹311.8 crore. The deal, disclosed on August 26, 2024, is […]
Rekha Jhunjhunwala-backed Baazar Style Retail, a value fashion retailer, on Monday said it has fixed a price band of ₹370-389 per share for its Initial Public Offering (IPO), which will open for public subscription on August 30. The IPO aims to raise around ₹835 crore at the upper price band and includes a fresh issue […]
Reliance Industries Stocks, Reliance Share Price Today, RIL Shares Live Updates for August 26, 2024: Reliance Industries shares were up close to 1% in early trade
This week, Indian stock indices accumulated 0.7-1.0 per cent gains on a cumulative basis. The indices rose for a seventh straight session on Friday, reportedly their longest rally in 2024. However, on the last trading session of the week, Friday, the indices treaded with caution ahead of Federal Reserve Chair Jerome Powell’s much-awaited Jackson Hole […]
Target: ₹1,501 CMP: ₹1,426.20 Pitti Engineering Ltd (PEL) reported numbers, Q1FY25 revenue stood at ₹383 crore (+32.1 per cent y-o-y/+16.7 per cent q-o-q); above our estimates of ₹371 crore. Gross Profit stood at ₹135 crore (+53.9 per cent y-o-y/18.5 per cent q-o-q); above our estimates of ₹113 crore. Gross margins improved by 499 bps y-o-y […]
Jeyyam Global Foods Ltd, a Chennai-based food products company, has set a price band of ₹59-61 per share for its upcoming SME Initial Public Offering (IPO). The IPO will open for subscription on September 1, 2024, and close on September 4, 2024. The anchor investor bidding is scheduled for August 30, 2024. The company aims […]
A tectonic shift has been happening in Indian stock markets quietly but decisively in recent months. If the trend in ownership pattern of Indian stocks sustains, which is most likely, the influence of foreign portfolio investors on our stock markets’ movement will be limited going forward. Already, FPIs’ influence has been on the decline on […]
The initial public offering of Orient Technologies witnessed a tremendous response from all category of investors, as the issue was subscribed 151.71 times. The Mumbai-based IT solutions provider Orient Technologies’ initial public offering comprised a fresh issue of ₹120 crore and an offer-for-sale (OFS) of ₹94.76 crore. It came out with a price band of […]
Adani group promoters may sell up to 3 per cent of their shares in Ambuja Cements as part of a regular adjustment of holdings they carry to keep stake across the ports-to-energy conglomerate at desired levels, a PTI report quoting sources said. Promoters will sell about 7 crore shares, or 2.84 per cent, in the […]
Block and bulk deals have gained momentum and sell-downs through such transactions in 2024 have risen over 88 per cent year to date to $51.4 billion, driven by soaring stock market valuations. In the same period a year ago, sell-offs worth a little over $27 billion took place, according to data provided to businessline by […]
Orient Technologies’ IPO received a grand response from HNI and retail of investors on Day 1 of the issue opening on Wednesday. The IPO was subscribed at 6.65 times at the end of the opening day. Mumbai-based IT solutions provider Orient Technologies’ initial public offering (IPO) will close on Friday, August 23. The IPO consists […]
The IPO of Interarch Building Products closed on a high note with overall subscription figures of 93.46 times, as institutional investors pumped in money on the last day of the issue closing on Wednesday. The ₹600-crore initial public offering that came out with a price band of ₹850–900 consisted of a fresh issue worth ₹200 […]
The ₹600-crore Interarch Building Products issue closes today for public subscription. The IPO has so far witnessed a robust response from high-net-worth individuals and retail investors. At the end of Day 2, the IPO was subscribed 10.84 times overall. IPO details The IPO has a price band of ₹850–900. It consists of a fresh issue […]
Target: ₹1,660 CMP: ₹1,659.75 Voltas has reported strong top-line growth (46 per cent y-o-y, 15 per cent above BNPPEe), led by continued growth momentum in Unitary Cooling Products (51 per cent) and EMP (40 per cent) segments. Electro-Mechanical Projects’ EBIT margin (7.1 per cent) turned positive after six quarters, which drove an overall 310 bp […]
The ₹600-crore Interarch Building Products saw a robust response from high-net-worth individuals and retail investors on Monday, the first day of the issue opening. At the end of Day 1, the IPO was subscribed 3.20 times overall. The IPO, which has a price band of ₹850–900, will close on August 21. The IPO consists of […]
The Reserve Bank of India (RBI) on Monday approved IndusInd Bank to set up a wholly-owned subsidiary for asset management business of mutual funds, the lender said in an exchange notice on Monday. “This is to inform that the Reserve Bank of India…has accorded its approval to the bank for setting up a wholly-owned subsidiary […]
In Q1FY25, the cement sector under Axis Securities’ coverage demonstrated resilience, with a slight decline in revenue, EBITDA, and APAT by 1%, 4%, and 9% YoY, respectively, contrary to the expected growth of 0%, 7%, and 4%. However, the volume growth of 5% was in line with expectations, indicating the sector’s stability. EBITDA margins decreased […]
The combined market valuation of seven of the top 10 valued firms jumped ₹1,40,863.66 crore in a holiday-shortened last week with the benchmark Sensex gaining nearly 1 per cent. Tata Consultancy Services and Infosys emerged as the biggest gainers in line with an optimistic trend at Dalal Street. Last week, the BSE benchmark rose by […]
Target: ₹6,015 CMP: ₹5,125.80 With the launch of differentiated products in FY24, Hero MotoCorp has been successful in building a strong motorcycle product portfolio. In FY25, the company plans to launch both ICE and EV models in the scooter space, as newer models in the premium motorcycle segment. The company has a clear strategy to […]
JSW Cement, part of Sajjan Jindal promoted diversified JSW Group, on Friday filed a draft red herring prospectus (DRHP) with the capital markets regulator SEBI to raise ₹4,000 crore through an initial public offer (IPO). The initial share sale comprises a fresh issue of equity shares worth ₹2,000 crore and an offer for sale (OFS) […]
Target: ₹5,170 CMP: ₹4,769.20 Hindustan Aeronautics’ (HAL) performance missed street’s estimates mainly on the back of weak execution. Key points: EBITDA rose 13 per cent YoY to ₹990 crore (highest-ever for Q1); EBITDA margin was at a healthy level of 22.8 per cent; An income tax refund of ₹440 crore resulted in PAT growth of […]
Shares of Ola Electric Mobility Ltd surged 20 per cent on Friday to hit the upper circuit limit on the BSE at ₹132.76 after the Bhavish Aggarwal-led EV maker announced its foray into the electric motorcycle segment with the launch of three models and two more in the pipeline. Investors in the IPO must be […]
Domestic markets are expected to open on a positive note on Friday amid positive global cues. Analysts expect the relief rally is likely to continue, as US stock markets bounced back on expected rate cuts sooner than later following encouraging inflation data. Gift Nifty at 24,350 suggests a gap-up opening of about 200 points in […]
Real estate firm Kalpataru Ltd has filed draft prospectus with market regulator SEBI to launch its initial public offering (IPO) for raising up to ₹1,590 crore, mainly to reduce debt. The Mumbai-based company has filed the draft red herring prospectus (DRHP) to launch its IPO, which comprises fresh issue of shares, having face value of […]
Sensex and Nifty closed marginally higher on Wednesday, with both benchmark indices showing slight gains. The BSE Sensex rose 149.85 points, or 0.19 per cent, to close at 79,105.88, while the Nifty edged up 4.75 points, or 0.02 per cent, to end at 24,143.75. The day began on a cautious note, with the Sensex opening […]
The initial public offering of Saraswati Saree Depot saw a robust response from all category investors as the issue closed with overall subscription of 107.52 times. All categories of investors, especially non-institutions, poured in money into the Kolhapur-headquartered IPO. The IPO came out with a price band of ₹152-160. The offer size was ₹160.01 crore […]
Indian shares are set to open higher on Wednesday, tracking other Asian peers, after softer U.S. producer prices data reinforced bets of an interest rate cut by the Federal Reserve in September. The Gift Nifty was trading at 24,195, as of 8:06 a.m. IST, indicating that the NSE Nifty 50 will open above its Tuesday’s […]
Shares of Unicommerce Esolutions made a stellar debut at the bourses on Tuesday by gaining over 100 per cent after a blockbuster IPO. Against the IPO price of ₹108, the stock listed with 113 per cent gains at ₹230 on the BSE. It further rose to a high of ₹256.15 and settled at ₹210.05, up […]
Shares of Unicommerce will make their debut at the bourses today after blockbuster IPO. The issue of Softbank-backed Unicommerce, which has been witnessing an overwhelming response from the minute the issue was opened, received a whopping subscription of 168.39 times. QIB portion was subscribed 138.75 times and NIIs, the most aggressive, received bids for 258.48 […]
Shares of Sun TV Network crashed 10.50 per cent to ₹818.45 on the BSE after the Chennai-based company posted underwhelming Q1 FY25 results, forcing brokerages to downgrade the stock. The media giant on Friday posted a 6.21 per cent decline in standalone net profit at ₹546.94 crore in Q1-FY25 as against ₹582.80 crore in Q1 […]
Adani Group stocks will remain in focus after the US-based short-seller Hindenburg Research last week in a sensational disclosure alleged that market regulator Securities and Exchange Board of India’s (SEBI) reluctance to act against the Adani Group might be linked to its chief Madhabi Puri Buch, having stakes in offshore funds associated with the conglomerate. […]
Amid rising concern over small market valuation and volatility, stock exchanges will enhance the enhanced surveillance measure (ESM) framework to companies with market capitalisation of ₹1,000 crore from ₹500 crore from Tuesday. Last June, stock exchanges introduced ESM to rein-in volatility in small-cap stocks aided by huge fund flow through mutual fund schemes. Following a […]
SEBI chairperson Madhabi Puri Buch and her husband Dhaval Buch termed the allegations made by Hindenburg Research as baseless and denied the “insinuations made in the report. “ Read: Adani-Hindenburg row: Supreme Court directs SEBI to probe if Hindenburg report violated law, caused harm to investors “In the context of allegations made in the Hindenburg […]
A rebound in stocks in the final stretch of a wild week drove the market to its biggest back-to-back advance in 2024. That semblance of calm stands in stark contrast to the recent gyrations that rattled the global financial world. After the many ups and downs — including Monday’s panic selling — the S&P 500 […]
Shares of Ola Electric Mobility saw a strong opening day at the bourses despite getting a flat listing on Friday. The stock listed at the issue price itself at ₹76 but gathered steam to close at day’s high of ₹91.20 — up 20 per cent over the IPO price on the NSE. The stock, after […]
Nowadays, it has become an increasingly difficult task for fund managers to outperform benchmarks, given the relentless rally. In the current market conditions, asset management companies are working tirelessly to identify the right stocks and sectors to generate alpha, often developing novel schemes that rely on quant-based tools. For instance, everyone knows that sectoral funds […]
Shares of Ola Electric Mobility will be listed on the bourses today. The IPO price has been pegged at ₹76. The public issue of Ola Electric Mobility, the first pure EV company to hit the capital market, saw a moderate response. The IPO was subscribed 4.27 times, with qualified institutional investors and retail investors showing more […]
The initial public offering of FirstCry’s parent, Brainbees Solutions Ltd, sailed through on the last day of issue closing on Thursday by receiving bids for 12.22 times. Till yesterday, the issue remained undersubscribed. On the other hand, the issue of Softbank-backed Unicommerce, which has been witnessing an overwhelming response from the minute the issue was […]
The Indian benchmark indices, Sensex and Nifty, are expected to open flat on Thursday. Gift Nifty at 24,175 indicates a marginal rise at open, as Nifty futures on the NSE on Wednesday closed at 24,366.45. According to analysts, the focus has now shifted to the RBI monetary policy outcome. The central bank has kept rates […]
Target: ₹2,680 CMP: ₹2,574.80 In Q1FY25, TVS Motors registered in line performance on Revenue/EBIDTA/PAT front (VAR is +/-1 per cent). Revenue under the quarter review improved by 16 per cent y-o-y basis to ₹8,375 crore (vs est. ₹8,440 crore) supported by 1.7 per cent y-o-y increase in ASP and 14.1 per cent volume growth. Operating […]
Bank of Japan (BOJ) Deputy Governor Shinichi Uchida said on Wednesday the central bank won’t raise interest rates when financial markets are unstable. The recent strengthening of the yen would affect the BOJ’s policy decision because it reduces upward pressure on import prices, and therefore overall inflation, Uchida said. Stock market volatility would also influence […]
The public issue of Ola Electric Mobility, the first pure EV company to hit the capital market, saw a moderate response from investors. The IPO was subscribed 4.27 times with qualified institutional investors and retail investors showing more interest, as their respective portion was subscribed 5.31 times and 3.92 times. However, HNIs (non-institution investors) remained […]
Shares of Akums Drugs and Pharmaceuticals will be listed at the bourses on Tuesday. The company has fixed the IPO price at ₹679, at the upper end of the price band ₹646-679. Analysts expect a decent listing gains of about 1-015 per cent. Earlier, The initial public offering of Akums Drugs and Pharmaceuticals saw a […]
The public issue of Ceigall India, an infrastructure construction company, ended on a strong note despite huge selling pressure in the secondary market. The IPO was subscribed 13.78 times. The ₹1,252.66-crore IPO consisted of a fresh issue of up to ₹684.25 crore and an offer-for-sale of ₹568.41 crore by promoter selling shareholders and individual selling […]
Domestic markets are expected to open on a negative note amid weak global cues. Asian stocks are in a sea of red, led by the Japanese Nikkei, which crashed over 6 per cent after falling over 10 per cent in the last few days. Korea, Taiwan, and Australian markets are down between 2.5 per cent and […]