Category: Cryptocurrency

Benchmark indices went into a free fall on January 17, tanking over two per cent, to post their biggest single-day loss in the last one-and-a-half years. HDFC Bank’s disappointing third quarter results, along with hawkish Fed commentary, escalating tension in West Asia, and weak GDP numbers from China, spooked investors. The Nifty slid 2.09 per […]

India’s benchmark Nifty 50 index is set to open lower on Wednesday, tracking Asian peers after China’s quarterly growth missed expectations, while HDFC Bank will be in focus after it posted a bigger-than-expected quarterly profit. India’s GIFT Nifty was trading at 21,826.50 as of 8:11 a.m. IST, suggesting the NSE Nifty 50 will open below […]

Stock markets snapped their five-day winning run on Tuesday with the benchmark Sensex declining by 199 points due to profit-taking in IT and oil shares and weak global trends. The BSE Sensex dropped by 199.17 points or 0.27 per cent to settle at 73,128.77. The index opened lower but staged a recovery in late-morning deals […]

India’s benchmark index Nifty 50 is set for a muted start on Tuesday, tracking Asian peers ahead of key economic data from China, after a recent rally to record highs. India’s GIFT Nifty was trading at 22,107 as of 7:58 a.m. IST, suggesting the NSE Nifty 50 will open near its Monday’s close of 22,097.45. […]

Benchmark Sensex closed above the 73,000 level for the first time while broader Nifty scaled the 22,000-point peak on Monday as key stock indices stayed on the record-breaking run powered by a rally in IT shares, Reliance and HDFC Bank. Rising for the fifth day in a row, the 30-share BSE Sensex jumped 759.49 points […]

Ambuja Cements open offer to Sanghi Industries opens today at Rs 121.90. The open offer by Ambuja Cements Ltd. to acquire a 26% stake held by minority shareholders of Sanghi Industries will close on January 29. The Adani Group company has offered to buy about 6.71 crore shares of the Gujarat-based cement maker. It may […]

GHCL Limited’s shares were up by 2.17 per cent after the company  signed two Memorandums of Understanding (MOUs) during the Vibrant Gujarat Summit, outlining investments totalling Rs 3,450 crore in Gujarat. The MOUs were inked in the presence of the Chief Minister, Bhupendra Patel, his senior ministers, and GHCL representatives. The first MOU involves an […]

Asian Energy Services Ltd clinched a contract from Eastern Coalfields Limited (ECL), a subsidiary of Coal India Limited. The contract entails the construction of plough feeders and associated civil works at the existing coal handling plant in Rajmahal, Jharkhand’s Godda district. The project is valued at Rs 21.9 crore, projected to be completed in 8 […]

Veranda Learning Solutions Limited’s shares were up by 2.08 per cent after the company acquired a 50 per cent stake in Tapasya Educational Institutions Private Limited for Rs 120 crore.  The company reported, the addition of Tapasya will enhance Veranda’s ecosystem, particularly in the Commerce Higher Education space. Veranda Learning aims to leverage Tapasya’s existing […]

The Securities and Exchange Commission (SEC) on Friday charged investment banking major Morgan Stanley & Co. LLC and the former head of its equity syndicate desk, Pawan Passi, in a front-running case. According to the US market regulator, the banking major and its employee were involved in a multi-year fraud by disclosing of confidential information […]

Income-tax findings on an “unnamed” company perceived to be Polycab Industries and the company’s clarification failed to convince analysts. The Polycab stock corrected 21 per cent to ₹3,905 on Thursday because of a Ministry of Finance release suggesting tax evasion by the group. While retaining the “Add” rating on the stock, Axis Capital cut the […]

Target: ₹362 CMP: ₹274.60 The successful debt restructuring at Vedanta parentco Vedanta Resources (VRL) removes a major overhang on the stock. The restructuring comes at a higher cost, but gives Vedanta a two-year breather to focus on ongoing aluminium/zinc capex and monetisation of steel & iron ore assets, which would unlock incremental cash flows. VEDL […]

Benchmark equity indices climbed in early trade on Thursday amid a rally in global markets and buying in Reliance Industries. The 30-share BSE Sensex jumped 341.76 points to 71,999.47 in early trade. The Nifty climbed 107.8 points to 21,726.50. Among the Sensex firms, Axis Bank, Bajaj Finserv, Bajaj Finance, Reliance Industries, IndusInd Bank and NTPC […]

After the successful venture into automobile sector, Sajjan Jindal-led JSW Group is preparing the ground for listing its cement business on stock exchanges to raise about ₹6,500 crore. Sources said JSW Cement has reached out to domestic and foreign investment banks including SBI Capital, Kotak Mahindra Capital, JM Financial, DAM Capital, Jefferies, Citi and Goldman […]

Benchmark equity indices declined in early trade on Wednesday amid fresh foreign fund outflows and a largely weak trend from global markets. Investors preferred to stay on the sidelines ahead of the start of corporate earnings season and macroeconomic data announcements later this week, traders said. The 30-share BSE Sensex declined 81.35 points to 71,304.86. […]

Edelweiss Financial Services’ has announced a Rs 250-crore public issue of NCDs, with yield of up to 10.46 per cent per annum. The NCDs carry CRISIL A+/Stable and ICRA A+ (rating watch with negative implication). The issue, which will open on January 9 and close on January 22, offers ten series with fixed coupons and […]

Public sector companies or PSUs are an important resource for the Centre when it comes to fund raising but that is proving a Herculean task, especially from listed ones. By selling stake, the Centre achieves twin targets of meeting minimum public shareholding (MPS) norm for listed players and raising funds for its kitty. According to […]

India has toppled Taiwan to take the second place in the MSCI EM Index, with a weightage of 17.1 per cent. The country’s representation in the index is poised to top 20 per cent in the coming months, according to analysts, which could give a further fillip to overseas flows and cement the country’s place […]

The board of Grasim Industries has approved ₹4,000-crore rights issue. The issue price has been fixed at ₹1,812 a rights share when fully paid-up and the record date as January 10. The rights issue will open on January 17 and close on January 29. The rights entitlement ratio has been fixed as six rights shares […]

Target: ₹1,400 CMP: ₹1,297.50 After underperforming its listed peers on pre-sales growth over FY21-23, we believe Sobha is set to outperform in terms of growth given its focus on unlocking its vast land reserve and exploring external growth opportunities through its healthy balance sheet. The outperformance is also expected to be driven by improvements in […]

Domestic markets will likely open flat on Thursday amid mixed global cues. Gift Nifty at 21,603 indicates a flat opening as Nifty Jan futures on Wednesday closed at 21,600. Asian stocks are in red in early Thursday deals, signalling domestic markets may remain under pressure. Market experts believe the correction phase will continue in domestic […]

The board of PTC Industries on Wednesday approved preferential issue of up to 2.35 lakh shares to certain non-promoters at ₹6,000 each, aggregating up to ₹141.25 crore. Among the investors are Ashish Rameshchandra Kacholia and Himalaya Finance & Investment Co (one lakh shares each). Shares of PTC Industries, after jumping to as high as ₹7,479.90, […]

*Researchbytes Analyst App * https://play.google.com/store/apps/details?id=com.intelegain.rb Arihant Capital: Mileen Vasudeo, Sr Research Analyst Views On Market And Stock Picks By Mileen Vasudeo Of Arihant Capital Markets Maruti Suzuki: Shashank Srivastava, Chief General Manager – Marketing Shashank Srivastava Of Maruti Suzuki On Auto Sales, Inventory And 2024 Outlook Royal OrchHotel: CK Baljee, CMD Royal Orchid: Growth Drivers […]

Target: ₹150 CMP: ₹128.80 Zomato has raised its platform fee for food delivery services by 33 per cent, hiking it from ₹3 to ₹4 per order in key markets effective January 1, 2024. It started levying a convenience fee of ₹2 per order in August 2023, which subsequently rose to ₹3 per order by end […]

Asian markets opened cautiously on Tuesday following a slight retreat in US stocks from recent highs, interrupting a record-setting streak dating back to 2004. Australia’s benchmark edged up by 0.39% to 7,620.60, but Japan, recovering from a tragic New Year’s earthquake, remained closed for holidays. Meanwhile, South Korea’s KOSPI declined by 0.49% to 2,642.31, and […]

Target: ₹202 CMP:₹185.05 Bharat Electronics Ltd, a defence public sector undertaking, is engaged in the business of Defence Electronics, especially a dominant supplier of radar, communication and electronic warfare equipment to the Indian armed forces. Besides, the government ownership leads to a sizeable inflow of orders on a nominated basis, providing a steady earnings stream […]

2023 has ended on a very positive note for the global equity markets. The benchmark indices, the Sensex and Nifty 50 had surged 18 per cent and 20 per cent respectively. The Nifty Bank index was up 12 per cent. The mid-cap and small-cap indices clearly outperformed by skyrocketing in 2023. The BSE Midcap and […]

Long-term investors can buy the shares are Jubilant Pharmova (₹545.75) at current levels. The stock made a low of ₹268.60 in March and has risen well from there. It indicates that the downtrend has reversed. This rise from the above mentioned low has happened from a strong long-term trendline support. This also strengthens the case […]

As infrastructure and its many sub-segments took off sharply over the past couple of years and continue to thrive with heavy government investments and initiatives, many companies have benefitted from smart execution of such projects. In this regard, NCC is a company that has been a key beneficiary of the focus on improvement in infrastructure […]

Life Insurance Corporation of India’s has reduced its shareholding in Bharat Heavy Electricals Ltd to 9.617 per cent from 11.701 per cent. In a disclosure to the exchanges, LIC said it sold the shares at an average price of ₹79.58 through secondary market between June 2019 and December 2023. While shares of BHEL closed 0.44 […]

Target: ₹3,700 CMP: ₹3,133.70 The company reported a robust growth outlook across all segments, resulting in strong earnings visibility from FY23 to FY26. The revenue contribution from the Railway and Mobility (R&M) division, which yields higher operating margins, is increasing. This is expected to improve the company’s operating profits moving forward. In FY23, its R&M […]

The Friday morning market opened with a decline, following the positive start earlier in the week. NSE Nifty was down by 0.21 per cent, or 46.55 points, at 21,732, while the BSE Sensex was at 72,229.87, down by 0.24 per cent or 178 points. A total of 3,089 stocks were actively traded, with 1,852 advancing, […]

Target: ₹635 CMP: ₹ 562.15 We met Sushanth Pai, Chief Financial Officer, Matrimony.com (Matrimony). Takeaways: 10–12 per cent revenue growth (volume led) is possible in the future and will be driven by new initiatives like ‘Jodii’ and the launch of a ‘serious relationship’ platform; Marriage service could breakeven on a cash-basis by Q4-FY24 and Matrimony […]

Shares of RBZ Jewellers closed 5 per cent higher on listing day after opening on a dull note. The stock closed at ₹105 against the IPO price of ₹100 on the NSE, after moving between ₹96 and ₹105. On the BSE, it closed at ₹104.99. The ₹100-crore initial public offering from RBZ Jewellers came out […]

Shares of the Mumbai-based Credo Brands Marketing, that owns the Mufti brand of clothing, will be listed on the bourses today. The issue price has been fixed at ₹280. The ₹549.80-crore IPO is priced in a band of ₹266-280, and was subscribed 51.85 times. The QIB portion was subscribed 105 times, while the HNI portion […]

Maithan Alloys, manufacturers and exporters of niche value-added manganese alloys, said on Tuesday that it plans to acquire 10 lakh shares (0.202 per cent) of the National Stock Exchange. In a disclosure to the stock exchanges, the company said it entered into an agreement for the purchase of 10 lakh shares for ₹324 crore, making […]

Shares of the Muthoot Pappachan Group company Muthoot Microfinance will be listed at the bourses today. The issue price of the ₹960-crore IPO has been fixed at ₹291, at the upper end of the ₹277-291 price band. The issue was subscribed 11.52 times. The offer comprised a fresh issue of ₹760 crore (2.61 crore shares) […]

Bank Nifty December futures (48,020) The Bank Nifty index is trading higher. The index is currently at 47,930, up 0.20 per cent. The advances/ declines ratio is at 11:1. This indicates the overall strength in the index. HDFC Bank, down 0.6 per cent, is the only stock in the red. Kotak Mahindra Bank is the outperformer […]

Nifty could hit the 24200 level in 2024, driven by heavyweight stocks from the BFSI, auto, cement and healthcare sectors, ICICIdirect has said in its latest Quant Yearly Outlook report. The Nifty was up by 119.10 pts or 0.56 per cent at 21,379.10 as of 11:30 am on Friday. The Nifty 50 pack was at […]

AXISCADES Technologies stock surged 10 per cent to hit a 52-week high on the NSE, it traded at ₹675 as of 1:40 pm on Friday. The Bengaluru-based engineering solutions provider had recently acquired EPCOGEN Pvt Ltd for ₹26.25 crore, with an additional three-year earnout of ₹7 crore based on performance. With this alliance, Axiscades has set […]

Target: ₹320 CMP: ₹250.15 In our view, PCBL’s stock price is not factoring in the value of its recently acquired Aquapharm business. Besides, PCBL’s recent JV with Kinaltek takes it further away from its traditional carbon black business. Aquapharm’s biodegradable chelating agents (such as GLDA, HEIDA, and PESA) are rapidly replacing traditional agents (such as […]

Target: ₹4,600 CMP: ₹3,961 Siemens, in its analyst meet, highlighted growth opportunities across segments, plans to demerge its energy division, and plans to increase localization across segments. The company is optimistic about growth prospects in the domestic market across government and private capex. It is also positive about opportunities emerging from new areas such as […]

Benchmark equity indices began the trade on an optimistic note on Friday tracking firm global market trends. The 30-share BSE Sensex climbed 180.55 points to 71,045.65 in early trade. The Nifty went up by 58 points to 21,313.05. However, both the benchmark indices faced volatile trends after early optimism but later bounced back to trade […]

Target: ₹1,000 CMP: ₹857.10 The company’s ongoing capacity expansion at its subsidiary UCWL (Udaipur Cement Works Ltd) of a 2.5 mtpa grinding unit is progressing well and is expected to commercialise in Q1-FY25. The clinker unit (1.5 mtpa) is already operational and getting stabilised. Clinker produced at UCWL will be used by JKLC for grinding […]

Digital services and solutions provider, Coforge Ltd, has collaborated with Microsoft to use its Azure OpenAI service, supporting generative AI adoption across enterprises. The former recently launched Coforge Quasar, a platform designed to build enterprise AI capabilities. As part of the initiative, Coforge will roll out workshops, training sessions, and resources to help enterprises understand […]

Target: ₹185 CMP: ₹167.25 Bharat Electronics (BHE) has received several order inflows aggregating ₹8,790 crore in Q3-FY24 to date. Until FY24 YTD, cumulative order inflows stood at ₹23,170 crore vs guidance of ₹20000 crore in FY24, 16 per cent ahead of the target. Considering the past year’s order inflows, we believe there has been a […]

Public sector banks have continued their good run on the bourses this year with the Nifty PSU Bank index gaining 33 per cent in the year to date. For two- and three-year periods, the index is up 123 per cent and 226 per cent, respectively. “The difference in financials and asset quality between public and […]

DroneAcharya Aerial Innovations Ltd announced the conduct of DGCA certified drone pilot training for the Maharashtra Police Department. The company had also bagged a contract from the Ministry of Defence. Prateek Srivastava, the Founder and Managing Director of DroneAcharya, said, “This training represents a pivotal step in harnessing the potential of drones as a force […]

Crisil Ratings has downgraded its rating on non-convertible debentures of Bandhan Bank Ltd to ‘Crisil AA-/Stable’ from ‘Crisil AA/Negative’ and reaffirmed its ‘Crisil A1+’ rating on the certificate of deposits. The rating action reflects the longer than anticipated delay in restoration of asset quality and overall profitability of the bank, to pre-Covid levels. Despite momentary […]

Tata Consultancy Services (TCS) said its association with Swiss and Spanish financial market infrastructure operator SIX, to modernise the latter’s post-trade platform for the Swiss market, has resulted in a resilient and robust post-trade market infrastructure, and has accelerated SIX’ journey to becoming a key player in the global securities services industry. The new system […]

The net inflow through the Systematic Investment Plan at ₹9,058 crore accounted for 56 per cent gross inflow of ₹17,073 crore in July with the number of new SIP increasing at a faster pace. In fact, it has been growing since July when net SIPs added up to only 36 per cent of gross inflows. […]

Impresario Handmade Restaurants, which owns premium restaurant chains like ‘Socia’l and ‘Smoke House Deli’, aims to be listed in the next two–to-three years.  According to Riyaaz Amlani, CEO and MD, Impresario, listing would primarily be aimed at unlocking growth potential”.  “In the next two-three years, we will start filing explorations going public. That is definitely […]

Muthoot Microfin’s IPO committee, in consultation with its book-running lead managers, has finalised the allocation of about 97.93 lakh equity shares to 26 anchor investors at an anchor investor allocation price (AIAP) of ₹291 per equity share aggregating ₹285 crore. Anchor investors who have been allocated more than 5 per cent of the microfinance company’s […]