Category: Cryptocurrency

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 FY23. Also read:ETFs trade like small-cap stocks as SEBI bans MFs’ overseas investment  While bank […]

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 Vodafone Idea. Also read:ATC to convert Vodafone Idea OCDs worth ₹1,440 crore into equity According […]

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 net loss of ₹8.74 crore in January-March compared with loss of ₹1.35 crore profit in […]

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 derivatives contracts in June 2000, BSE has been paying the regulatory fee on the annual […]

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 trade. The NSE Nifty went up by 50.05 points to 22,620.40. From the Sensex basket, […]

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 lot of Nifty Financial Services to 25 from 50 and Nifty Midcap Select to 50 […]

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. GIFT Nifty was trading at 22,354.50, as of 08:10 a.m. IST, indicating that the Nifty […]

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 y-o-y), and medical seg. (26 per cent y-o-y). However,Industrial seg. saw de-growth (-57 per cent […]

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). The minimum lot size is 36 shares. The ₹650-crore IPO is a combination of fresh […]

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 ports, will position the company to exceed its FY24 volume guidance and expand its market […]

The public issue of heating equipment maker JNK India Ltd opens today and closes on April 25 (Thursday) at a price bad of ₹395-415. The minimum lot size for the IPO stands at 36 shares. The ₹650-crore IPO is a combination of fresh issue of equity shares worth up to ₹300 crore and an offer […]

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 cent to ₹963 crore (₹886 crore). Also read:Sify data centre in Mumbai goes live; Chennai, […]

The new week is likely to begin on positive note for domestic markets, despite global uncertainty. Analysts said the on-going result season will keep interest among individual stocks while the broader trend would be dictated by global sentiment. The upcoming monthly expiry of F&O contracts on the NSE this Thursday will increase volatility, they added. […]

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 weak global cues, profit booking It sees little getting changed from 2019, when NDA got […]

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 week. Nifty 50 Nifty futures (May expiry) (22,275) lost 2.1 per cent over the last […]

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 initial public offering (IPO). Also read:Premier Energies bags ₹1,700-crore order from NTPC The 29-year-old company, […]

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 SEBI chief Madhabi Puri Buch fructify. The Securities and Exchange Board of India is considering […]

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 and extensive retail network, it aims to cater to a wider customer base. ts hub-and-spoke […]

Domestic market opened lower on Friday’s early trade. BSE Sensex was down by 477.79 pts or 0.66 per cent to trade at 72,011.20 as of 9.31 am, and Nifty 50 declined by 165 pts or 0.75 per cent to trade at 21,830.85. All sectoral indices traded in the negative territory. Nifty realty, PSU bank, IT, auto, and media declined over 1 per cent as […]

ICICI Securities, soon-to-be-delisted, has reported a 104-per cent year-on-year rise in consolidated net profit for the quarter ended March 2024. Its net zoomed to ₹535.35 crore for March 2024 crore as against ₹261.95 crore reported in year-ago comparable period. Total revenues rose 74 per cent to ₹1,542.85 crore (₹884.69 crore). The board has recommended a […]

Bharti Airtel, Dialog Axiata PLC (Dialog) and Axiata Group Berhad (Axiata) have signed an agreement to combine their operations in Sri Lanka. Under the agreement, Dialog will acquire 100 per cent shares in Airtel Lanka, in consideration of which Dialog will issue to Bharti Airtel, ordinary voting shares which will amount to 10.355 per cent […]

Infosys Ltd has announced a collaboration with Proximus, Belgium’s digital services and communications solutions provider, on the ServiceNow platform. The IT major has supported Proximus to standardise its existing processes on the ServiceNow platform and transform its customer service management (CSM) operations. As part of the engagement, Infosys has overhauled Proximus’ CSM operations with Infosys […]

Mutual fund folios nearly doubled in the last five years at 17.79 lakh crore in March 2024, up from 8.97 lakh crore in March 2020, ICRA Analytics said in its report. It noted that retail investors account for a large share of the total folios. According to the quarterly data on folio and ticket size […]

Target: ₹375 CMP: ₹309.20 ASK Automotive (ASK) is the leading manufacturer of 2W brake shoe and drum braking systems with a combined about 50 per cent market share. Despite being a late entrant, the company has emerged as a sizeable player in aluminium light-weighting components (ALP) and safety control cables (SCC) for the 2W segment, where […]

Sterlite Technologies Ltd (STL) has raised ₹1000 crore through a qualified institutional placement (QIP). According to the company’s stock exchange filing, it approved the issue and allotment of 8.84 crore equity shares to qualified institutional investors, including HDFC Mutual Fund, Nippon Life India, Goldman Sachs and Bandhan Mutual Fund, aggregating to ₹1,000 crore. Also read: […]

Indian equities extended losses for a second straight day as Israel weighed its response to a direct attack by Iran. Shares fell across Asia. Gold held firm even as oil prices inched lower on hopes the diplomatic efforts would curtail a larger conflict in West Asia. Also read: Analysts remain bullish on asset management companies […]

Shares of Tata Consultancy Services (TCS) on Monday climbed over 1.50 per cent after the IT services major reported a 9 per cent growth in net profit at ₹12,434 crore in the January-March quarter of FY24 due to strong domestic business even as the company struggled in its key markets overseas. The stock gained 1.56 […]

The majority of portfolio management services (PMS) schemes outperformed the benchmark Nifty 50 and BSE 500 in financial year 2024 amid a rally in mid and small-cap stocks. As much as 80 per cent, or 264 of the 324 schemes, were able to beat the returns generated by Nifty, data from PMS Bazaar show. The […]

Even as the primary market is buzzing with activity, mutual fund is not far behind, thanks to a vibrant secondary market. With most benchmarks from BSE Sensex and NSE Nifty50 to SmallCap/MidCap hitting new highs, fund houses are launching new products to capitalise on the momentum across sectors, themes and market-capitalisation. For instance, Tata Mutual […]

Under Prime Minister Narendra Modi, India’s stocks have commanded an unprecedented premium to emerging-market peers. As he seeks a third successive term, investors are betting that the performance can continue. Modi is likely to spend heavily on manufacturing and infrastructure should he win, continuing a strategy that wooed money managers during his decade in power. […]

The board of Aster DM Healthcare on Friday approved a special dividend of ₹118 a share payable to those shareholders whose names stand on the Register of Members of the Company as on April 23 (record date). The dividend will be paid within 30 days. Also read: Olympus Capital plans $235 mn stake sale in […]

Indian equities slid over 1 per cent on Friday amid selling by overseas investors and negative global cues. The possibility of fewer rate cuts by the US Federal Reserve this year, surge in commodity prices and the amendment in the India-Mauritius tax treaty spooked investors. Brent crude prices inched higher to $91 per barrel, while […]

Vodafone Idea said on Friday it would raise up to Rs 18,000 crore later this month through a sale of new shares, in what will be the country’s biggest follow-on public offering (FPO). The debt-laden company said in February it would raise up to Rs 20,000 crore through equity, which included financial support of Rs […]

Larsen & Toubro Ltd has completed the sale of its entire equity stake in L&T Infrastructure Development Projects Ltd (L&T IDPL) to Epic Concesiones Pvt Ltd., a joint venture between L&T and Canada Pension Plan Investment Board (CPP Investments) holding 51 per cent and 49 per cent shares, respectively. According to the stock exchange filing, […]

Even as Vodafone Idea (Vi) is looking to do a follow-on public offer to raise ₹20,000 crore, analysts at CLSA warned that shares of the cash-strapped telecom operator could drop as much as 61 per cent to ₹5, if the company continues to see subscriber churn. The latest data from telecom regulator, TRAI, reveal Vi […]

The NSE Nifty was up by 0.25 per cent or 49.30 points at 22,692.05, while the BSE Sensex was at 74,847, up by 0.22 per cent or 163.41 points. A total of 3,126 stocks were actively traded, 1,677 advanced, while 1,358 declined and 91 stocks remained unchanged, where 88 stocks hit a 52-week high and […]

The benchmark Sensex hit a fresh high and nudged past the psychological mark of 75,000 on Tuesday before slipping in late trade due to profit booking. Also read:Markets settle lower after hitting record peaks in intra-day; Sensex breaches 75,000-milestone The gauge has taken more than three years for its journey to 75,000 from 50,000 and […]

The NSE Nifty was up by 0.33 per cent or 74.95 points at 22,741.24, while the BSE Sensex was up by 0.40 per cent or 320 points at 75,057 at 9.50 am on Tuesday. A total of 3,047 stocks were traded on the BSE, of which 1,815 advanced, while 1,129 declined and 103 stocks remained […]

Domestic market is expected to open on a flat note on Monday, tracking mixed global cues. Analysts expect the market to remain volatile during the day due to selling by foreign portfolio investors and domestic institutions’ counter buying. Truncated week (market is closed on Thursday on account of Ramzan Id) is likely to keep local […]

Companies that made their debut on the bourses in the last financial year raised over ₹1,300 crore by way of pre-IPO placements. Also read:Unrealistic valuations could hit IPO prospects of internet companies This is three times the amount collected through this route in the last fiscal and the highest mop-up since FY17, the year from […]

Telecom operator Vodafone Idea’s share sale of ₹20,000 crore through a follow-on public offer is expected to hit the market within a month, sources said. Roadshows have already drummed up support from institutional investors. Despite the huge size of the issue, which will be fresh equity since the company needs the funds, investment banking circles […]

Last week, APSEZ announced the acquisition of Gopalpur Port in Odisha, which will make it the seventh Indian port to be acquired by the company since 2014. It currently has a total capacity to handle around 607 million metric tonnes (MMT) (around 355 MMT on the West coast and around 252MMT on the East coast). […]

Thanks to a strong response from institutional investors, the public issue of Bharti Hexacom was subscribed nearly 30 times. The ₹4,275-crore issue, which opened at a price band of ₹542-570 on Wednesday, received bids for 123.24 crore shares against an offer of 4.12 crore shares (net-off anchor portion). Also read:IPO screener: Bharti Hexacom issue closes […]

TAC Infosec, risk and vulnerability management company, on Friday made a strong debut on the NSE Emerge platform. The stock was listed at ₹290, a premium of 174 per cent over IPO price of ₹106. The stock rose further to end at ₹304.50. Trading volume stood at 14.60 lakh shares. Also read:TAC Security eyes turnover […]

The public issue of Bharti Hexacom will close for subscription today. The issue has so far been subscribed 1.12 times. The ₹4,275-crore issue, which opened at a price band of ₹542-570 on Wednesday, received bids for 4.62 crore shares against an offer of 4.12 crore shares (net-off anchor portion). Also read: IPO screener: Bharti Hexacom […]

Target: ₹1,948 CMP: ₹1,664.85 Muthoot Finance is in a sweet spot, given robust growth prospects backed by sound fundamentals and sectoral tailwinds. Fundamentals are underscored by proven moats of leadership and higher productivity (AUM per branch at ₹14.50 crore vs ₹8 crore for IIFL Finance and a mere ₹5.6 crore for MGFL), steady-state branch and […]

The public issue of Bharti Hexacom was subscribed 0.34 time at the end of Day 1 issue opening on Wednesday. The ₹4,275-crore issue, which opened at a price band of ₹542-570, received bids for 1.41 crore shares against an offer of 4.12 crore shares (net-off anchor portion). The IPO closes on April 5 (Friday) and […]

Benchmark indices Sensex and Nifty, which opened on negative note tracking global markets, especially the US, ended flat on Wednesday. The 30-share BSE Sensex declined by 27.09 points to close at 73,876.82, recovering from day’s low of 73,757.23. The broader NSE Nifty edged down 18.65 points However, mid- and small-cap stocks continued to attract buying […]

The ₹4,275-crore initial public offering of Bharti Hexacom opens for public subscription today at a price band of ₹542-570 a share. The IPO closes on April 5 (Friday). The minimum lot size for an application is 26 shares. The entire issue is an offer-for-sale of 7.5 crore shares by Telecommunications Consultants India, the lone public […]

The adoption of a shorter settlement cycle has benefited the securities ecosystem, said the chief of Securities and Exchange Board of India (SEBI). Speaking at an annual summit on corporate governance organised by the Confederation of Indian Industry, SEBI chief Madhabi Puri Buch, quoted a ratio that captured this improvement. She said that prior to […]

Infosys Ltd has received order under Section 201 & 201(A) of the Income-Tax Act, 1961 from the Income Tax Department, Government of India for assessment year 20-21 with a tax demand of ₹341 crore (including interest). The company is in the process of evaluating the implications of this order on the financial statements for the […]

Indian equities started the new financial year on a strong note, hitting fresh highs, amid positive global cues. The Sensex ended with a gain of 363 points, or 0.49 per cent, at 74,014. The Nifty rose to 22,462, up 0.6 per cent. The broader markets outperformed with Nifty Midcap100 and Nifty Smallcap100 rallying 1.7 per […]

Traders and investors of SME stocks can heave a sigh of relief, as the National Stock Exchange has reduced the lot size for 75 active stocks in the small and medium enterprise segment. Also read:Nifty, Sensex trade flat; IT stocks drag In a circular, the NSE has said the lot size of 216 stocks remain […]

The stock of HDFC Bank (₹1,447.90) has been consolidating in recent weeks since a sharp fall in November. The stock finds immediate support at ₹1,400 and ₹1,304. A fall below the latter will change the outlook negative. On the other hand, it finds immediate resistance at ₹1,465 and ₹1,552. A close above ₹1,600 would change the […]

Nifty 50 (22,327) and Bank Nifty (47,125) extended the gain for the second week as they appreciated 1 per cent and 0.6 per cent respectively in the last week. Below is an analysis of the derivatives data of both indices. Nifty 50 Nifty futures (April expiry) (22,488) broke out of a key resistance at 22,375 […]

Mumbai Income tax authorities have issued notices to several startups in connection with the share premium money they received a couple of years ago, said two people in the know. The tax department has asked for details of the nature and the source of the investments and the credit worthiness of the investors. It has […]

The funds mobilised by India Inc through the IPO route in this financial year was up 19 per cent to ₹61,000 crore compared to ₹52,116 crore raised in FY23. Also read:Why India Inc is slow to adopt AI tech However, excluding the mega LIC IPO of ₹21,000 crore in May 2022, the mop-up increased to […]

With both equity and gold prices hovering around record highs, market experts believe investors should review their portfolio and book some profit from equity for allocation to gold, as it has more steam to rally after the US rate cut. Also read:Gold imports likely to drop 87% this month on high prices, weak demand The […]

Target: ₹250 CMP: ₹201.45 Bharat Electronics Ltd (BEL) was founded in 1954 under the aegis of the Government of India’s Ministry of Defence, with a primary objective to fulfill the electronic equipment necessities of the defence sector. The organisation is expanding its operations into diverse sectors beyond defense, particularly emphasizing energy storage products for electric […]

The benchmark indices logged gains on the last trading session of the financial year aided by positive global cues. The Sensex rallied nearly 1,200 points, intra-day before closing at 73,651, up 0.9 per cent. The Nifty rose 0.9 per cent to 22,326. Also read: Markets end FY24 on buoyant note amid positive global cues The […]

The domestic stock market is likely to open on a negative note on Thursday amid mixed global cues. Gift Nifty at 22,220, compared to Nifty April futures value of 22,331, indicates a gap-down opening. Most equities across the Asia-Pacific region are down in early deals despite the US stocks ending in the green overnight. Analysts […]

Target: ₹3,961 CMP: ₹3,545.05 We attended the InterGlobe Aviation (IndiGo) analyst meet wherein management highlighted plans to add more than one aircraft per week, increase capacity by early double digits, expand the network by launching 10 new destinations and add 5,500-6,000 employees in FY25E. Despite escalation in engine issues at P&W, growth guidance of early […]

According to media buzz, Standard Chartered Bank-corporate banking is likely to sell its entire 7.18 per cent stake in Central Depository Services (India) Ltd (CDSL) and the floor price has been fixed at ₹1,672 a share. Private equity firm Olympus plans to sell a 9.8 per cent stake in Aster DM Healthcare for up to […]

BSE Limited is “fully geared” to launch the beta version of T+0 settlement for 25 securities starting March 28, its MD & CEO Sundaraman Ramamurthy said on Tuesday. On strategic plans to increase its share in India’s derivatives market, Ramamurthy emphasised BSE’s approach as a complementary exchange, fostering mutual support between BSE and NSE for […]

Domestic markets are expected to open flat with a negative bias on Tuesday after a long weekend. Analysts expect the market to remain volatile ahead of the monthly F&O settlement. As fiscal 2024 comes to an end, adjustments in accounts will also keep the market volatile. Experts said stocks are likely to gain towards the […]

Small- and mid-cap schemes are likely to see lower inflows in March after the recent correction in the space and the regulatory diktat to conduct stress tests on such schemes, said industry officials. Also read:MF small-cap schemes plunge into the red as market trembles About two-fifths of equity flows in the past two years have […]

Mother Dairy will launch this summer 30 new products, mainly in ice cream and yoghurt categories, as it expects a 25-30 per cent increase in consumer demand, a top company official said. Also read:Mother Dairy to invest ₹750 crore to set up two new plants Mother Dairy, a leading milk supplier in Delhi-NCR, has nine […]

The shareholders of Religare Enterprises have voted against both the company’s proposal to invest in its subsidiary MIC Insurance Web Aggregator and the proposal changes to the Article of Association. Also read:All disclosures on MIC investment made: Religare Enterprises With regards to the process initiated for getting shareholders approval through e-voting for the special resolutions, […]

Equities may give high single-digit or low double-digit returns this year given the inflation scenario, rising raw material costs, and subdued earnings growth over the next two quarters, says Aniruddha Naha, CIO, Alternatives, PGIM India AMC. Naha believes that commodity and crude oil prices could fuel inflation and impact the trajectory of interest rates going […]

A recent trend in the primary market offers a valuable lesson for traders, especially those who wish to bet on high subscription figures. With certain company IPOs being fully subscribed within minutes or hours, there arises a temptation for some to hastily join the fray in pursuit of substantial gains, either upon listing or immediately […]

Target: ₹140 CMP: ₹122.70 Punjab National Bank`s return ratios have been still depressed versus its peers due to higher provisions and high operational costs but is likely to improve hereon. Earlier, credit cost was higher led by higher net NPA book. Lower slippages trend, strong recoveries & upgrades and net NPA ratio below 1 per […]

Target: ₹1,562 CMP: ₹1,280.95 Adani Ports and SEZ (ADSEZ) has consistently gained market share, driven by organic growth from its Gujarat-based ports and through strategic acquisitions at reasonable valuations. The turnaround of these acquired assets has accelerated its market share gains. We expect market share gains to continue as new acquisitions have turned around (Karaikal […]

India’s equity benchmarks BSE Sensex and NSE Nifty50 are likely to open marginally higher on Friday after joining the global rally in the previous session as the US Federal Reserve stuck to its rate cut forecast, while other Asian peers opened lower after Thursday’s gains. The Gift Nifty was trading at 22,060 as of 8:06 […]

The stock of Krystal Integrated Services ended its first of listing at 0.38 per cent lower on Thursday at ₹712.30, against the IPO price of ₹715. Though the stock of facility management and security services provider listed on positive note at ₹795 (up 11 per cent), it gave most of the gains to hit a […]

The domestic markets are expected to see a sharp rise at open, thanks to positive global cues triggered by US Federal’s expected stance. Holding the key interest rates unchanged for 5th straight time at 5.50 per cent, the US Fed chief said the central bank continues to expect three interest rate cuts in 2024. The […]

Political stability would likely lead to policy continuity, which could bode well for market sentiment, UBS said in a note. The elections could result in three likely scenarios – BJP single-party majority; BJP-led coalition or a weak coalition led by INDIA alliance. The first two outcomes are largely priced in by the market. In the […]

Domestic markets are expected open on a flat note with a positive bias on Wednesday. Analysts said the selling in small- and mid-cap stocks may moderate. However, they do not expect any quick buying from these segments. Meanwhile, as the election process kicked in India, the focus shifted entirely to global events for domestic market […]

Norway’s Government Pension Fund Global, the world’s largest sovereign wealth fund with a portfolio value in excess of $1.4 trillion, raised its India bets last year amid a surge in Indian equities. Its Indian holdings as a percentage of its total equity portfolio rose by 20 basis points (bps) year-on-year in calendar year 2023 to […]

Tata Sons, the holding company of the Tata Group, will be selling 2.34 crore shares or 0.65 per cent equity of Tata Consultancy Services through a block deal for ₹9,362.3 crore ($1.13 billion). According to the term sheet, seen by businessline, the floor price of the deal has been fixed at ₹4,001 a share, a […]

Prices of Nifty and Bank Nifty options across the strike prices crashed today, as traders did not expect the election results to be announced in June. Generally, traders accumulate positions ahead of volatile events such as elections, budgets etc. Likewise, this time, there was huge build-up in May options, betting on the election outcome. The […]

The Centre has granted its approval to insurance major LIC for a wage revision for its employees, effective August 1, 2022. The pay has been revised upwards by 17 per cent. The US has widened its investigation of Adani Group to focus on the conduct of its founder, Gautam Adani, and whether the company may […]

Stock markets would take cues from the biggest event of the week — the US Fed interest rate decision, besides tracking the trends in global markets and trading activity of foreign investors, analysts said. Also read: Gold glitters on cues from global markets, US Fed comments Last week, a heavy decline in smallcap, midcap firms, […]

Target: ₹1,844 CMP: ₹1,583.10 Vinati Organics enjoys global leadership in two specialty chemicals, with a market share of 70 per cent in IBB (isobutyl benzene) and 80 per cent in ATBS (2-Acrylamindo 2-Methylpropane Sulfonic Acid). In 9MFY24, revenue dipped by 15 per cent y-o-y, due to ATBS destocking and fall in realisation. EBITDA margins fell […]

Target: ₹1,720 CMP: ₹1,550.75 We hosted investors for a visit to JB Chemicals’ Daman lozenges facility to better understand the outlook. Key takeaways include: Geographical expansion with same customer, tech transfer for customer owned product and owned product push are three main levers of growth, companies want to do quick marketing and not earlier practice […]

The board of Securities and Exchange Board of India (SEBI) on Friday gave its nod for the launch of a beta version of optional T+0 settlement for 25 scrips with a limited set of brokers. The board has approved a proposal to exempt additional disclosure requirements for FPIs having more than 50 per cent of […]

Shares of oil marketing companies come under pressure after a late-night sudden announcement of cutting diesel and petrol price by ₹2 each at retail outlets. Hindustan Petroleum Corporation slumped 6.24 per cent to ₹468.95 on the BSE, Indian Oil Corporation 5.46 per cent to ₹161.15 and BPCL by 3.74 per cent to ₹586.25, as analysts […]

https://play.google.com/store/apps/details?id=com.intelegain.rb Recent Interview… As of 18:29 PM Thursday 14 March 2024 Adani Wilmar Ltd: Angshu Mallick, CEO We Are Eyeing Double-Digit Volume Growth In FY25 For Edible Oil: Adani Wilmar | Gopal Snacks: Raj Hadvani, CEO 75% Of Revenue Comes From Gujarat & The Share Will Be At 50% In 5 Years: Gopal Snacks Gopal […]

Target: ₹500 CMP: ₹356.05 The current share price of Balrampur Chini (trades at 10.5xFY26EPS), we believe, disregards: improving sugar prices (ex-mill sugar price at 37-38/kg despite the peak production season) with likely reduction in acreage in Maharashtra and Karnataka (water availability challenges) in the coming season; its increased ethanol capacity (and, hence, earnings); significant operational […]

https://play.google.com/store/apps/details?id=com.intelegain.rb Recent Interview… As of 18:27 PM Wednesday 13 March 2024 Allcargo: Ravi Jakhar, Director Will Continue To Gain Market Share Above Industry Average: Allcargo Logistics Metropolis: Ameera Shah, MD Core Diagnostics Business Has Outpaced The Industry As Of 9MFY24: Metropolis Healthcare Titagarh Rail: Umesh Chowdhary, Vice Chairman & Managing Director Orders For New Vande […]

Anil Agarwal-led Vedanta has decided to contest the SEBI order of levying a penalty of ₹78 crore on delayed dividend payments to Cairn UK Holdings (now Capricorn UK Holdings) Ltd (CUHL). The dividend payment to CUHL was withheld due to a tax dispute between Cairn UK and the Indian Government, and the dividend of ₹667 […]

The market regulator has ordered Vedanta Ltd to pay ₹77.62 crore to Scottish explorer Cairn for delay in payment of dividends, and also barred the firm’s entire board, including his brother Navin and daughter Priya, from accessing the capital market for the same. In a stock exchange filing, Vedanta said it received the order on […]

Target: ₹800 CMP: ₹601.95 We initiate coverage on J Kumar Infraprojects Limited (JKIL) with a BUY recommendation and a Target Price (TP) of ₹800/share, implying an upside of 25 per cent from the CMP. We believe JKIL, with its substantial order book, formidable market position, experienced management team, and sound financial standing, is poised to […]

British American Tobacco Plc is preparing to kick off a sale of part of its stake in Indian partner ITC Ltd. as soon as this week, a Bloomberg report quoting people with knowledge of the matter said. London-listed BAT has been speaking with Bank of America Corp. and Citigroup Inc. about a potential divestment of […]

Target: ₹215 CMP: ₹183.20 We visited the Vijaipur plant of GAIL (India) and were joined by senior management from the company. The management highlighted two futuristic projects, which form the cornerstone of the net zero and gas penetration strategies: the first entails a 4.3 tpd green hydrogen project, key to achieving decarbonisation objectives and marking […]

Sensex, Nifty, Share Prices LIVE: The Infibeam Avenues stock has been in a strong uptrend. The inverted head and shoulder pattern on the daily chart strengthens the bullish case. Amber Enterprises, Hitachi Energy India and Rallis India are among the stocks that will see action this week

Securities and Exchange Board of India has notified the regulations for small and medium real estate investment trusts and specified that investment managers of such REITs should have a minimum net worth of ₹20 crore and the REITs can raise a minimum of ₹50 crore from at least 200 unit holders. Also read: Editorial. SEBI […]

The current fiscal year FY24 is set to end with record net inflows from Foreign Portfolio Investors (FPIs) into the Indian market, with net investments close to ₹12,000 crore ($1.4 billion) in March first week, after a tepid show in January and February. Also read: UAE’s exit from FATF grey list to boost FPI flows, […]

Venus Remedies has received marketing authorisation for its oncology drugs in Ukraine. This includes Paclitaxel, 100mg/16.7mL, 260mg/43.3mL, 300mg/50mL and 30mg/5mL, Oxaliplatin in concentrations of 50mg/10mL and 100mg/20mL, and Irinotecan in formulations of 100mg/5mL and 40mg/2mL. The company had been awarded its first disbursement of ₹7.5 crore under the Government’s Production Linked Incentive (PLl) scheme for […]

Inflows into small-cap mutual fund schemes moderated by 10 per cent last month to ₹2,922 crore against ₹3,257 crore in January due to large-scale redemption amid concern over high valuation and strong signals from SEBI on the froth developing in these schemes. Also read: AMFI calls for stress test on mid, small-cap schemes The redemption […]

Bummer, an innerwear company has raised ₹9.25 crores in a Pre-Series A1 funding round. Also read: Lux Industries expecting good growth in mid-premium segment The funding spearheaded by Gruhas Collective Consumer Fund marks one of their first investments as a fund. Further strengthening the strategic support, is the continued backing from Fluid Ventures, an established […]

On the eve of International Women’s Day, Colossa Ventures, a SEBI registered venture capital management company, has announced the first close of its maiden fund – Colossa WomenFirst Fund at ₹100 crore. Also read: Women-led startups see $100 million in funding in first 2 months of 2024, Delhi-NCR tops list: Tracxn The fund with a […]

Benchmark indices Sensex and Nifty closed at fresh record highs on Thursday following gains in metal and FMCG shares amid firm global trends and foreign fund inflows. In highly volatile trade, the 30-share BSE Sensex eked out gains of 33.40 points or 0.05 per cent to settle at a new closing peak of 74,119.39. During […]

Brokerage firm Jefferies has downgraded its rating on IIFL Finance following RBI’s directive to the company to stop incremental gold loan sanctions, citing hit on earnings due to rapid unwinding of the profitable gold loan book (32 per cent of AUM), lower co-lending income and potentially higher cost of funds. “Timing of lifting of the ban […]

Benchmark indices Sensex and Nifty recouped their early losses to settle at fresh record high levels in volatile trade on Wednesday, following buying in bank and select IT shares, and gains in European markets. The 30-share BSE Sensex jumped 408.86 points or 0.55 per cent to settle at a new record high of 74,085.99. During […]

Tata Motors’ management might have decided to demerge its passenger vehicle (PV) and commercial vehicle (CV) businesses, but most domestic analysts do not see great potential in the stock price as they see only a “limited upside” following the sharp run-up in the price recently. The stock of Tata Motors closed at ₹1,021.95 on Tuesday, […]

Online grocer bigbasket is targeting an initial public offering of its shares in 2025, Chief Executive Officer and co-founder Hari Menon said.  “Probably 2025 is the date. We are leaving this to the Tatas, but I think we are gunning for 2025,” Menon told businessline on the sidelines of an event to launch a frozen […]

Target: ₹181 CMP:L ₹153.80 India’s market share in the US home textile exports improved to 46/38 per cent in CY2023 for bedsheets/terry towels from 34/36 per cent in CY2022. With this, domestic players such as Welspun Living will benefit from improving global opportunities. Management is confident about its medium-term prospects and targets its revenue to […]

A group of seasoned wealth managers have joined hands with leading fintech Angel One to launch private wealth management foray. Srikanth Subramanian, Shobhit Mathur and Dharmendra Jain have joined as co-Founder and CEO of Angel One Wealth. Also read: Cautious Kotak MF restricts inflows into small-cap fund Subramanian comes with over 20 years of experience […]

Listed firms such as Bajaj Hindusthan Group, Ponni Sugars, Rana Sugars, DS Sugars and Godavari Biorefineries are among the companies that own 85 sugar mils against whom the Indian government has cracked the whip for allegedly selling more quantity of the commodity during November-December 2023. The Centre has cut 25 per cent of their normal […]

Extending the lacklustre trend witnessed in January, precious metals remained range-bound and the price action was devoid of any direction in February. The strength in the U.S. dollar and the recovery in the equity markets dented sentiments towards the precious metals. Also read: Is it the right time for you to buy or sell gold?  […]

The National Stock Exchange (NSE) on Friday said its unique registered investors have surpassed nine crore, with the latest one crore additions taking place in just five months. Also read: SEBI’s concerns mount with flows into small/mid-cap funds The investor base has seen more than a three-fold jump in the last five years, facilitated by […]

Equity benchmark indices Sensex and Nifty ended at new closing high levels in the special trading session on Saturday, extending their previous day’s sharp rally, amid impressive GDP data and foreign fund inflows. Also read: Sensex, Nifty log fresh highs on robust GDP growth Leading stock exchanges BSE and NSE conducted a special trading session […]

RK Swamy Ltd on Friday raised about ₹187 crore from 18 anchor investors ahead of its initial public offering (IPO), which opens on March 4 and closes on March 6. The Chennai-based company, which is engaged in the business of integrated marketing communications, customer data analysis and full-service market research, has allotted about 65 lakh shares […]

The Securities and Exchange Board of India last week came out with a consulting paper that aimed at ease of doing business for mutual funds. This came after the Finance Minister in the FY24 Budget made an announcement to simplify, ease and reduce cost of compliance for participants in the financial sector through a consultative […]

Benchmarks closed in green on Thursday at the end of a range-bound trade ahead of release of key economic data. Besides, monthly F&O expiry and MSCI rebalancing volumes added to the volatility, said market observers. While BSE Sensex advanced 195.42 points or 0.27 per cent to 72,500.30, NSE Nifty gained 31.65 points or 0.14 per […]

Benchmark stock indices Sensex and Nifty closed with gains on Thursday in a highly volatile trade amid the scheduled monthly expiry of derivative contracts. The 30-share BSE Sensex rebounded 195.42 points or 0.27 per cent to settle at 72,500.30. During the day, the benchmark oscillated between a high of 72,730.00 and a low of 72,099.32. […]

Benchmark indices ended a per cent lower on Wednesday amid profit booking and weak global cues. The Sensex was down 790 points or 1.08 per cent at 72,304.88, while the Nifty was down 247 points or 1.11 percent at 21,951. Cash market volumes on the NSE were lower than the previous two sessions at ₹0.94-lakh […]

Benchmark Sensex tanked more than 1 per cent while Nifty declined below the 22,000 level on Wednesday pulled down by selling in heavyweight Reliance Industries and bank stocks amid weak global market trends. The 30-share BSE Sensex fell by 790.34 points or 1.08 per cent to settle at 72,304.88. During the day, it tanked 872.93 […]

The Chennai-based RK Swamy will launch its initial public offering on March 4, according to red herring prospectus filed with SEBI. The company is expected announce the price band this week. The offer includes a fresh issue of ₹173 crore and an offer for sale of up to 87 lakh equity shares by selling shareholders […]

Benchmark equity indices Sensex and Nifty rebounded on Tuesday following buying in index major Tata Consultancy Services, Tata Motors and Sun Pharma amid mostly firm global markets. The 30-share BSE Sensex climbed 305.09 points or 0.42 per cent to settle at 73,095.22. The index was hit by volatility in the first half of the session […]

In the past four months, through September 2023–January 2024, InterGlobe Aviation (IndiGo) lost domestic market share from the peak of 63.4 per cent to 60.2 per cent, which mirrored the strong fleet addition by competitors at 26 narrow body aircraft (20 by Air India, three by Vistara and three by Akasa), versus 12 by IndiGo. […]

What is your outlook for Indian equities for CY24? We continue to remain cautiously optimistic on Indian equities for CY24. Economic growth and corporate earnings trajectory continue to be strong. However, as valuations move up, one should be prepared for higher volatility as well. Continuation of positive macro situation, political stability coupled with positive policy […]

Anvil Wealth Management (AWM) is winding down its portfolio management services (PMS) business, said two people in the know. The decision to shut shop comes in the aftermath of SEBI’s interim order in March last year, which restrained six entities, including AWM’s fund manager Kaushal Chandarana, for their involvement in front-running trades of AWM. AWM […]

India’s policymakers and think tanks need to come up with steps that grow the depth and width of the country’s capital markets, Sundararaman Ramamurthy, MD&CEO, BSE has said.  Also read: Midday market update: Sensex and Nifty show marginal gains This is particularly important given the ongoing robust growth of the country, which is now aiming […]

The United Arab Emirates’ exit from the the grey list on Friday, nearly two years after its inclusion by the Financial Action Task Force, will ease the road for the country’s investors seeking to acquire significant influence in Indian NBFCs. Also read: Cayman’s exit from FATF grey list may bolster global PE investment into India […]

The ₹1,800-crore initial public offering of Juniper Hotels was subscribed fully on the last day of issue closing on Friday, thanks to qualified institutional buyers. The IPO saw a lukewarm response from non-institution investors whose portion was undersubscribed at 0.85 times. The IPO came out with a price band of ₹342-360 . The entire offer […]

Capital market regulator SEBI has excluded investment made through ETFs and index funds from the regulations on exposure to a single stock of own group companies and nomination has been made option for joint investments in mutual fund schemes. In a consultation paper to promote ease of doing business among MFs, SEBI on Friday allowed […]

Target: ₹569 CMP: ₹510.75 Avanti Feeds Ltd is a leading manufacturer of shrimp feeds with a capacity of 7,75,000 tonne and a shrimp processor & exporter with a capacity of 22,000 tonne. AFL has a tie-up with Thai Union Group, Thailand. We upgrade our rating to Accumulate (from Hold) with a revised target price of […]

Indian equities overcame Fed jitters and reversed early losses to make fresh highs on Thursday. The Sensex surged 535 points to 73,158, and the Nifty rose 162 points to 22,217. Cash market volumes on the NSE were a bit lower than the previous session but still closed at ₹1.02-lakh crore. The mid-cap index rose more […]

Olectra Greentech Ltd has been awarded a contract from Brihan Mumbai Electric Supply & Transport Undertaking (BEST) for supply of 2,400 electric buses. The company’s stock ended 1.95 per cent higher on the NSE, closing at ₹2,102.95. The stock had hit a 52-week high today at ₹2,221.95. As per the company’s regulatory filing, the letter […]

Mutual funds holding in troubled Paytm (One 97 Communication) have increased 70 per cent to ₹3,384 crore in January compared with ₹1,995 crore in December as they ramped up exposure to average cost. Investors who have bought stock at a high price tend to buy more of the same stock when it falls. This helps […]

Ambuja Cements, part of Adani Group, has proposed to establish a cement grinding unit with an investment of ₹1,000 crore in Motia Village of Godda district in Jharkhand, post requisite approvals, with a capacity of 4.0 MTPA. The project is planned in proximity to Adani Power (Jharkhand) Limited, as part of a comprehensive approach to […]

Aditya Birla Group company Novelis Inc has filed papers with the US market regulator Securities and Exchange Commission relating to the proposed initial public offering of its common shares. Novelis, the leading aluminium solutions provider and the world leader in aluminium rolling and recycling, is the wholly-owned subsidiary of Hindalco Industries. The proposed IPO of […]

TVS Supply Chain Solutions Ltd, a global supply chain solutions provider, on Tuesday said its contract with Rolls-Royce, a global leader in technology and innovation, has been extended for five years until 2029. The partnership extension is for the Parts Distribution Centre (PDC) in Singapore serving the Asia-Pacific markets for Rolls-Royce’s Power Systems business unit. […]

PNB MetLife India Insurance Company on Monday launched PMLI Small Cap Fund, a new fund within the Unit Linked Insurance Plan (ULIP) segment. The fund will offer policy holders an opportunity to create wealth over the policy life by investing in a diversified equity portfolio with focus on small-cap companies. The new fund should be […]

Stock markets closed higher for the fifth consecutive day on Monday with the benchmark Sensex rising 281 points and Nifty scaling its fresh lifetime high driven by gains in financial and FMCG shares. The BSE Sensex rose by 281.52 points or 0.39 per cent to close at 72,708.16. As many as 17 Sensex shares advanced […]

A study by PMS Bazaar that analyzed 335 PMS investment approaches and 388 mutual funds (regular funds) across one, three, five and 10-year periods showed that PMS investment approaches outperformed their benchmarks by 70 per cent on average across all timeframes and categories, while mutual funds outperformed 48 per cent of the time. Also read:PMS […]

Indian stock markets are expected to be driven mostly by global factors this week amid a lack of local triggers and earnings season largely coming to an end, say analysts. Crude oil prices, rupee movement and US Federal Reserve meeting minutes to be released this week will also influence the market sentiment. The minutes of […]

General Elections 2024 is one of the biggest events to watch this year. A study on the Indian stock market performance in the previous election years shows that whatever the case ahead of the elections and its outcome, the Indian benchmark indices, the Sensex and Nifty 50, have generated positive returns after the elections. Sectors […]

Shares of Entero Healthcare Solutions made a weak beginning at the bourses on Friday. Against the IPO price of ₹1,258, shares of the healthcare products distributor opened in discount at ₹1,245 and closed at 8.62 per cent lower at ₹1,149.50 on the BSE. During the day, the stock hit a low of ₹1,149.50. On the […]

Shares of Alpex Solar made a stellar listing at NSE-Emerge platform. As against the IPO price of ₹115, the stock was listed at with a huge premium of ₹345.45 and surged further to ₹362.70 — a gain of 215 per cent. The IPO, which opened between February 8–12, saw an overwhelming response from the investors […]

JSW Steel Ltd.’s shares went up 1.23 per cent after the company reported its expansion plans. The Chief Minister of Odisha, Naveen Patnaik, laid the foundation for JSW Steel’s Mega Integrated Green Steel Manufacturing Complex in Paradip, Odisha. This project, proposed to be executed in multiple phases, entails an investment of approximately ₹65,000 crore by […]

Carlyle Group has sold equity stake worth ₹1,056 crore in Yes Bank through open market transaction. Carlyle Group sold 1.35 per cent stake at an average price of ₹27.10 per share. Of the 390,000,000 shares sold in the open market, Morgan Stanley Asia acquired 306,305,668 shares in Yes Bank for ₹830.08 crore. SHARE Copy link […]

Shoppers Stop Ltd reported that NARS Cosmetics, the global makeup brand founded by François Nars, unveiled its first standalone boutique in India, situated at Select Citywalk Mall in New Delhi. This boutique showcases products known for their pigments, textures, and formulas. The company reported that the boutique offers a virtual try-on tool for customers to […]

Share of the merged entity of Pressman Advertising and Signpost India, the Digital Out of Home advertising company, started trading on Wednesday and hit the upper circuit of ₹327 on NSE and ₹318 on BSE. The listed entity Signpost India reported net profit of ₹9 crore against ₹5 crore logged in the same period last […]

Nuvama Wealth Management Limited(NWML), a wealth management firm, has reported a near 100 per cent jump in consolidated net profit for the quarter ended December 31, 2023 at ₹176 crore (₹87 crore). The latest bottomline performance was also higher than net profit of ₹145 crore recorded in the September 2023 quarter.  For the quarter under […]

Target: ₹458 CMP: ₹452.40 Coal India reported higher than estimate EBITDA ex OBR at ₹11,900 crore (CentrumE: ₹10,950 crore), up 6.2 per cent y-o-y/ up 34 per cent q-o-q and EBITDA/t declined by 2.4 per cent y-o-y at ₹624/t (CentrumE: ₹573/t). The y-o-y increase is primarily due to increase in sales volume (up 8 per […]

Prakash Pipes Ltd’s shares were up by 2 per cent after it reported higher net sales of Rs 158 crore in the quarter ended December 31, 2023, as compared to the corresponding period of the previous fiscal year.  Operating profit surged to Rs 30 crore, up 43 per cent, while profit after tax was at […]

The NSE-Emerge IPO of Alpex Solar has received an overwhelming response from the investors with the issue being subscribed 301.45 times. The ₹74.52-crore IPO, that was open between February 8–12, came out with a price band of ₹109-115. The Greater Noida-based company plans to use ₹19.55 crore of the net proceeds to upgrade and expand […]

Fintech firm One97 Communications, which owns the Paytm brand, has received support from merchants, and it assured them of continuity of services without any disruption, the company said in a blog on Sunday. The blog post came amid the recent crisis around Paytm Payments Bank Limited (PPBL), an associate company of Paytm, which has been […]

Stock markets would take cues from the upcoming macroeconomic data announcements and global trends besides keeping a watch on the trading activity of foreign investors, analysts said. The last batch of the ongoing earnings calendar would trigger stock-specific action, traders said. Also read: Index Outlook: Sensex, Nifty 50: Range-bound with a bearish bias “This week, […]

Four of the top-10 most valued firms together added ₹2.18 lakh crore in market valuation last week, with Life Insurance Corporation and State Bank of India emerging as the biggest gainers. Also read: Inflation, industrial production data, global trends to drive market trends this week: Analysts From the top-10 pack, Reliance Industries, Tata Consultancy Services […]

Godfrey Phillips India (₹2,366.3) Uptrend is intact Godfrey Phillips’ stock was tracing a horizontal trend in the second half of last year. It was oscillating between ₹2,020 and ₹2,200. But a fortnight ago, the stock broke out of the range and hit a record high of ₹2,646.75 on January 31. What followed was a moderation […]

Nowadays, Central Government agencies such as the Income-tax department and the Enforcement Directorate (ED) are creating ripples in financial markets, with a host of companies coming under their radar. Some developments that have created shockwaves include raids/ searches on Polycab India, One97 Communications (Paytm), India Cements and Sobha. Often, such adverse news sends the stock […]

The runaway rally in shares of public sector companies has made analysts dig deeper on the reasons driving the rally. The BSE PSU index has risen by about 92 per cent in the last year compared with 18 per cent gains clocked by the Sensex. Capital goods, electric utilities, financials and oil, gas & consumable […]

Biocon’s subsidiary, Biocon Biologics Ltd (BBL), a fully integrated biosimilar company, has announced a five-year partnership with Sandoz AG (Sandoz). The association aims to promote, sell, and distribute biosimilar Trastuzumab and biosimilar Bevacizumab in Australia.   Also read:Biocon Ltd reports Q3 PAT of ₹753 crore Under the agreement, Sandoz will distribute the Biocon Biologics’ brands, OGIVRI […]

The Securities and Exchange Board of India (SEBI) on Thursday asked 15 guest experts including Nirmal Kumar Soni, Partha Sarathi Dhar, Simi Bhaumik, Mudit Goyal, Himanshu Gupta, Ashish Kelkar and Kiran Jadhav, appearing on the Zee Business news channel to pay ₹7.41 crore for the “unlawful gains” that they made by taking opposite positions in […]

Zydus Lifesciences Ltd has received final approvals from the United States Food and Drug Administration (USFDA) to manufacture and market dexamethasone tablets USP, 0.5 mg, 0.75 mg, 1.5 mg, 4 mg and 6 mg and dexamethasone tablets USP, 2 mg.   Dexamethasone is used to treat different conditions, such as inflammation (swelling), severe allergies, adrenal problems, […]

Headquartered in Bhilai, Chhattisgarh, Atmatsco is offering 73.05 lakh shares, of which 54.80 lakh will be a fresh issue and 18.256 lakh shares through an offer-for-sale (OFS). The stock will be listed on NSE Emerge. The issue size is ₹60 crore. The proceeds from the IPO will be used for working capital requirements and repayment […]

DroneAcharya Aerial Innovations Ltd has announced the acquisition of an export order for Defense FPV (First Person View) drones, in collaboration with its associate company Drone Entry (Thailand). Key features of the drones include equipped security and surveillance, advanced imaging technologies and real-time video transmission for search and rescue and monitoring capabilities. Prateek Srivastava, Founder […]

Benchmarks BSE Sensex and NSE Nifty advanced on buying in IT stocks and expectations of a status-quo in the policy rates of the Reserve Bank of India (RBI) which is set to announce its revised monetary policy on Thursday. Besides positive global cues, investors’ interest in oil as gas stocks helped the indices. Also read:Broker’s […]

The NSE Nifty was up by 0.39 per cent or 85.80 points to 21,860.65 points, while the BSE Sensex was at 72,000.09, up by 0.37 per cent or 268.67 points. A total of 3,193 stocks were actively traded, with 2,144 advancing, while 951 declined and 98 stocks remained unchanged, with 242 stocks hitting a 52-week […]

Target: ₹3,100 CMP: ₹2,884.50 Kaynes Technology Q3 revenue surged 76 per cent y-o-y to ₹510 crore, 10 per cent higher than our estimates. Revenue was led by healthy B2B demand and strong order backlog. Revenue from the industrials segment spiked 217 per cent y-o-y to ₹270 crore on rising import substitution in the EV space. […]

Ramkrishna Forgings Ltd has secured a contract valued at $13.16 million from a North American axle manufacturer. Under the partnership, the company will be supplying rear axle components and services for the off-highway sector for the next four years, as stated in the stock exchange filing. Also read: NCLT approves Ramkrishna Forgings’ acquisition of ACIL […]

We recommended that investors buy the stock of Gujarat Fluorochem (GFCL) in December 2022, then trading at 24 times one-year forward earnings (FY24). The stock has since delivered 28 per cent returns and is now trading at even higher forward earnings of 40 times FY25 expected EPS. The company is facing headwinds in its three […]

Stock markets will be driven by quarterly earnings by index majors, global trends and the RBI’s interest rate decision this week after digesting news on budget proposals and US Federal policy outcome, say analysts. The trading activity of foreign investors and the movement of global oil benchmark Brent crude would also dictate trends in equities. […]

The week gone by had it all. Resurfacing jitters of regional banking crisis in the US resulted in bond yields collapsing significantly in early part of the week. Then, a hawkish Fed pushing back expectations of interest rate cuts last Thursday, was followed by a significantly hotter-than-expected US monthly jobs report that resulted in yields […]

Mortgage lender Aadhar Housing Finance has filed draft papers for an initial public offer with a size of ₹5,000 crore, of which ₹4,000 crore is an offer for sale by promoter Blackstone, which holds 98.7 per cent stake now.  The housing finance company will be raising ₹1,000 crore through a fresh issue of shares, the […]

Delta-neutral trades require active management. These are trades that involve taking long positions in, say, lower strike calls and short positions in higher strike calls such that the delta of the long position is equal to the delta of the short position. The strategy is typically setup to bet on the relation between implied volatility […]

Avalon Technologies Ltd revenue increased 6.6 per cent QoQ revenue and decreased 7.9% YoY. The company reported a gross margin of 37 per cent, EBITDA margin of 7.7 per cent, and PAT margin of 3 per cent. Despite losses in US operations impacting its consolidated results, the company said it secured wins in sectors such […]

The initial public offering of BLS E-Services will close for public subscription today. The issue has received a strong response from retail investors and high net worth individuals. The IPO that plans to raise ₹311 crore, has a price band of ₹129-135 and a market lot of 108 shares. The entire IPO is a fresh […]

The NSE Nifty was down 0.04 per cent or 7.65 points at 21,718.04 points, while the BSE Sensex was at 71,725.06, down by 0.04 per cent or 27.05 points. A total of 2,918 stocks were actively traded, 1,662 advanced, while 1,164 declined and 92 stocks remained unchanged, where 245 stocks hit a 52-week high and […]

Shares of Life Insurance Corporation closed above the IPO price for the first time on Wednesday since its listing in May 2022. The stock closed at ₹949.75 on both the NSE and the BSE, a tad above the IPO price of ₹949. Though the stock moved above the allotment price of ₹904 (for retail investors) […]

NSE Nifty was up by 0.82 per cent or 173.80 to 21,599.85 points, while the BSE Sensex was at 71,727.72, up by 0.83 per cent or 587.82 points. A total of 3,871 stocks were actively traded; 2,431 advanced, while 1,331 declined, and 109 stocks remained unchanged, where 398 stocks hit a 52-week high and 17 […]

Shares of Bajaj Finance slumped over 5 per cent on Tuesday after the NBFC highlighted rising stress in its rural and urban B2C loans portfolios in its Q3 earnings. On January 30, the stock fell 5.4 per cent to Rs 6,805 on the NSE. However, it later pared some less to close 5.1 per cent […]

Suzlon Energy Ltd’s shares were up by 1.92 per cent after the company bagged an order from Evren Company, ‘ABC Cleantech Pvt Ltd (ACPL),’ a joint venture between Brookfield and Axis Energy. The order involves supply of 214 wind turbine generators (WTGs) with a rated capacity of 3 MW each for a 642 MW wind […]

Sundaram Mutual Fund said that its latest new fund offer of the Multi-Asset Allocation Fund has garnered ₹1,890 crore, with participation from over 83,000 investors. “This milestone marks a significant achievement for the brand, making this its 2nd largest NFO,” the company said in a statement. The NFO was open from January 5 to January […]

Zen Technologies Ltd’s shares were up by 5 per cent after the company reported financial results for the third quarter. Revenue increased 198 per cent, EBITDA surged 371 per cent, and PAT rose 317 per cent during this period. Ashok Atluri, Chairman and Managing Director, said FY24 was poised to be a successful year in […]

Indian companies wanting to list on the international exchanges at GIFT IFSC may face a number of roadblocks. The norms that were notified on Wednesday allow only the ‘permissible holder’ to invest, trade, or hold equity shares of Indian companies listed on international exchanges. The permissible holder is not a person resident in India. “The […]

Technology-backed service provider BLS E-Services Ltd has set a price band of ₹129-135 per share for its initial public offering (IPO), that will open for bidding on January 30. Also read:IPO screener: Nova Agritech’s blockbuster issue closes today The issue will open for public subscription on January 30, and close on February 1, 2024, a […]

Investing in the stock market for the long term is safe and rewarding, says Monika Halan, a prominent personal finance writer and television personality.  In a conversation with businessline, at the HinduLitForLife event here today, Monika took the hypothetical case of “the unluckiest investor” to illustrate her point.   Suppose there is an unluckiest investor, […]

What is the outlook for Petronet LNG for the next two-three months? I am holding the stock and my average purchase price is ₹228. Can I exit at current levels? Ashish Petronet LNG (₹256.60): The outlook is bullish. Petronet LNG share price has been rising since December last year. This uptrend is intact. Moving Average […]

The short-term outlook turned positive for the stock of Infosys (₹1,669.1). The IT major finds immediate support at ₹1,560 and ₹1,427. The nearest resistance is at ₹1,720. A close above that level will trigger a fresh rally. In that event, the stock can reach ₹1,815. We expect the stock to move with a positive bias. […]

Tiger Global-backed wealth management start-up ended 2023 with 7.6 million active traders, as per data from the NSE. Also read: Companies opting for IFSC listing may face several bumps While Zerodha had around 6.7 million active traders, Mumbai-based AngelOne ended the year at the third spot with 5.3 million active traders. Groww had gone past […]

The initial public offering of Nova Agritech saw overwhelming response from all category investors with the issue being subscribed over 109 times, as non-institutions bid aggressively. The IPO, which came out with a price band of ₹39-41, received bids for 277.94 crore shares against 2.54 crore shares (net off anchor portion) on offer. The NII […]

Titagarh Rail Systems Limited’s shares were up by 1.95 per cent after the company along with Amber Group reported an alliance. The collaboration involves a joint investment of up to ₹240 crore in a special purpose vehicle (SPV), where TRSL and Amber Group’s subsidiary, Sidwal Refrigeration Industries Pvt Limited, will acquire equal control. This venture […]

Tata Metaliks has fixed February 6 as the record date for the proposed merger with Tata Steel. According to the scheme of amalgamation, TML shareholders will be entitled to receive fully paid-up ordinary equity shares of Tata Steel Ltd on face value ₹1 each, in the share exchange ratio of 79:10 (79 shares of Tata […]

Equity benchmark indices witnessed a see-saw movement in the early trade on Wednesday amid high volatility, as investors rushed to book profit in high-value stocks. The BSE Sensex fell 316.75 points or 0.45 per cent to 70,053.58 points in the opening trade but soon regained the lost ground to trade with a gain of 60.70 […]

Shares of Medi Assist Healthcare Services ended with a premium of 11 per cent on Tuesday at ₹464.25 on the BSE against the issue price of ₹418. During the day, the stock hit a high of ₹509.60 and a low of ₹446 after listing at ₹465. On the NSE, after listing at ₹460, the stock […]

Shares of ICICI Bank hit a record ₹1,059.4 on Tuesday after its third-quarter profit beat estimates on robust loan growth and margins met expectations. The private lender rose as much as 5 per cent in the session and was the sole stock posting gains on the Nifty Bank index, which was down 0.7 per cent. […]

Japan’s Nikkei share average rallied to a fresh 34-year peak on Monday as the US S&P 500’s record-high close on Friday buoyed investor sentiment, despite continued signs of overheating in the Asian market. The Nikkei climbed as much as 1.59 per cent to 36,535.36, a level not seen since February 1990, before closing out the […]

Sony Group Corp. has officially notified Zee Entertainment Enterprises Ltd. it plans to call off the merger between its India unit and the media network, ending a two-year acquisition saga and leaving Zee vulnerable to competition as rivals bulk up. The Japanese entertainment giant sent a termination letter to Zee early on January 22 and […]

Britannia Industries (₹5,163.2) Rally to resume Britannia Industries’ share price has been on a decline since the beginning of this year. It fell off ₹5,375, thus indicating that this is a resistance. But towards the end of last week, there was a bounce in price as the stock found support at the 50-day moving average around […]

The initial public offering (IPO) of the Noida-based contract manufacturer of room airconditioner (RAC), EPACK Durable, opened on January 19 and will accept subscriptions till January 23, 2024. The total offer is worth around ₹640 crore out of which ₹400 crore is fresh issue and ₹240 crore is an offer for sale. The proceeds from […]

At bl.portfolio, we had started taking a cautious approach to IT stocks since mid-2021 when valuations started getting frothy. Since then, there has been quite a significant time-wise, and also in many cases, absolute correction in stocks in the sector. In this context, HCL Technologies was amongst the few stocks we had a positive view […]

Domestic markets are likely to open flat and remain listless today. The focus will be on big ticket banking and finance companies such as ICICI Bank, Kotak Mahindra Bank, Can Fin Homes, IDBI, IDFC First Bank and IREDA. Participation from global investors will be low and even domestic investors will be in a holiday mood, […]

Equity and derivatives markets of BSE and the National Stock Exchange will function normal on Saturday i.e. from 9:15 a.m. to 3:30 p.m., without the planned disaster recovery movements. However, the markets will remain shut on Monday, as the Maharashtra Government has declared public holiday under the Negotiable instruments Act. SHARE Copy link Email Facebook […]

The ₹640-crore initial public offering of Epack Durable will open for public subscription today and close on January 23. The IPO comes with a price band of ₹218-230 and the market lot is 65 shares. The company has reserved not more than 50 per cent of the shares in the public issue for qualified institutional […]

Global financial advisory firm BNP Paribas expects Nifty to post a high single-digit return in 2024 while domestic brokerage Emkay Global Financial anticipates an 11 per cent return. “While most factors remain favourable for Indian equities in 2024, valuation comfort has reduced, and we see limited upside,” said BNP Paribas, which expects Nifty to hit […]

Domestic markets will remain under pressure on Thursday as well. Analysts expect the market to remain under pressure with the result season underwhelming. Read: Nifty set for 11% return in 2024: Emkay Global Financial expects small and mid-cap stocks to shine Gift Nifty at 21,393 indicates a gap down opening of over 700 points as […]