Stock Market Highlights: Sensex, Nifty close flat; Tech Mahindra top gainer on Sensex

Benchmark indices Sensex and Nifty edged lower on Tuesday, extending the losing run to the third day amid profit-taking in oil & gas and select FMCG shares. The BSE Sensex dipped 33.49 points or 0.04 per cent to settle at 84,266.29. During the day, it hit a high of 84,648.40 and a low of 84,098.94.

The NSE Nifty closed marginally lower by 13.95 points or 0.05 per cent to 25,796.90.

Muted trends in global markets and heavy foreign fund outflows weighed on investor sentiment, analysts said.

Rupee stayed in a narrow range and settled 3 paise lower at 83.82 (provisional) against the US dollar on Tuesday amid subdued equity markets, unabated outflow of foreign funds and strengthening American currency. However, crude oil prices sliding to near $70 per barrel helped the local unit resist a steep fall, forex traders said.

Lloyds Engineering Works Limited (LEWL) announced today that it has received orders exceeding ₹59 crore for steel eco-pickling systems and marine loading arms. Read more

Top gainers: Tech Mahindra (2.90%), M&M (2.90%), Britannia (1.80%), Infosys (1.62%), Adani Enterprises (1.50%) 

Top losers: IndusInd (-2.66%), ONGC (-1.75%), Asian Paints (-1.63%), Bajaj Auto (-1.38%), Tata Steel (-1.10%)

Kedaara-backed Ajax Engineering Limited, a leading concrete equipment manufacturer with a comprehensive range of concrete equipment, services and solutions across the concrete application value chain has filed the draft red herring prospectus (DRHP) with capital markets regulator SEBI to float an initial public offering (IPO).

According to the draft prospectus, the Initial Public Offering of the Bengaluru headquartered company consists of an Offer for Sale of up to 2,28,81,718 Equity Shares (2.28 crore equity shares) by the Selling Shareholders. 

The OFS comprises of up to 74,36,800 Equity Shares by Kedaara Capital (Investor Selling Shareholder); up to 28,60,170 Equity Shares each by Krishnaswamy Vijay and Kalyani Vijay; 22,88,136 Equity Shares by Jacob Jiten John; 60,06,357 Equity Shares by Jacob Hansen Family Trust (Promoter Selling Shareholders) and 14,30,085 Equity Shares by Susie John (Promoter Group Shareholder)

The objects of the Offer are to carry out the Offer for Sale of up to 2,28,81,718 Equity Shares by the Selling Shareholders; and achieve the benefits of listing the Equity Shares on the Stock Exchanges

Incorporated in 1992, Ajax Engineering has developed a comprehensive product portfolio that includes equipment such as self-loading concrete mixers (“SLCMs”) and batching plants for the production of concrete, transit mixers for the transportation of concrete, boom pumps, concrete pumps and self-propelled boom pumps for the placement of concrete, slip-form pavers for the paving of concrete and 3D concrete printers for depositing concrete. 

The concrete equipment has diverse use cases and is deployed across transportation projects such as roads, railway lines, underground tunnels, elevated tracks, flyovers and bridges; irrigation projects such as reservoirs, canals, check dams and aqueducts, and infrastructure projects involving landscaping, drainage, construction of airports, power plants, factories, oil and gas terminals etc.

Co-founded by Krishnaswamy Vijay, Executive Chairman, late Jacob John and late Anil Kumar Singh, Ajax Engineering operates four assembling and manufacturing facilities located at Obadenahalli, Gowribidanur and Bashettihalli in Karnataka, each specializing in distinct product lines. The assembling and manufacturing facility at Adinarayanahosahalli, Karnataka is currently under construction and expected to become operational in March 2025. 

As of March 31, 2024, Ajax’s dealer network comprised 51 dealerships across 23 states in India and has expanded its global reach with 25 dealers and distributors across South and Southeast Asia, the Middle East, and Africa.

Ajax which is one of the three largest manufacturers of SLCMs in the world, with an approximately 75% market share in the SLCM market in India (in terms of number of SLCMs sold in FY24) reported FY24 revenue from operations at Rs. 1741 crores with a PAT of Rs. 225 crores.

ICICI Securities Limited, Citigroup Global Markets India Private Limited, JM Financial Limited, Nuvama Wealth Management Limited and SBI Capital Markets Limited are the book running lead managers to the issue. The equity shares are proposed to be listed on BSE and NSE.

BSE Limited, Asia’s oldest stock exchange, and Maharashtra Economic Development Council (MEDC) have signed a Memorandum of Understanding (MoU) to foster the growth, development, and progress of the Micro, Small, and Medium Enterprises (MSME) sector and MSME entrepreneurs by promoting the listing of SMEs on the BSE SME platform.

As a part of MoU, BSE and MEDC will conduct collaborative programs and activities to raise awareness among investors about the benefits of SME listing. Under the terms of the MoU, the two parties will undertake collaborative activities to sensitize the investor network about the advantages of listing for SMEs. This includes guiding potential listed entities to attend capacity-building programs aimed at enhancing their understanding of the listing process and its benefits.

BSE will provide training and capacity building support to MEDC officials as part of the engagement. The exchange will also appoint a Nodal person as single point contact in Maharashtra for providing end to end solution and facilitating SMEs with respect to registration/listing on the platform.

Commenting on the MOU, Shri. Atul Shirodkar, President, MEDC, said, “This association promises to promote the benefits of listing on the BSE SME Platform and jointly host a series of knowledge sessions and events across Maharashtra in tier 2 and tier 3 cities across the state. This partnership aims to create awareness and encourage MSMEs to capitalize on the opportunities available through listing”.

Commenting on the MOU, Shri. Sundararaman Ramamurthy, MD & CEO, BSE said, “This collaboration is part of the broader engagement by the exchange to connect with the SME ecosystem in the state and raise awareness of the advantages of listings. BSE’s SME platform provides a one stop solution for the capital needs of the SME ecosystem, while also fostering expansion and creating jobs”.

Top gainers:

Tech Mahindra (3.07%), M&M (2.42%), Infosys (1.50%), Wipro (1.49%), Adani Ports (1.47%) 

Top losers: 

IndusInd (-2.49%), ONGD (-2.18%), Bajaj Auto (-1.68%), Asian Paints (-1.63%), Titan (-1.41%)

Stocks advanced on BSE at 3 pm on October 1, 2024, were 2,285 against 1,649 stocks that declined, and 92 remained unchanged. Total stocks traded were 4,026. The number of stocks that recorded a 52-week high was 234, and those that hit a 52-week low was 36. 

A total of 387 stocks traded in the upper circuit, and 212 in the lower circuit.

Allied Blenders and Distillers informed that the Additional Excise Commissioner, Bardhaman Excise Division has imposed application fee and initial grant fee for Change in Management amounting to Rs. 42,50,000/- in terms of Rule 8 of the West Bengal Excise (Transfer of License) Rules, 2023.

The Company has already disputed the aforesaid levy of fee by the department by lodging detailed representation along with the necessary supporting papers on September 20, 2024.

Shares trade flat on the NSE at ₹342.10.

Goldiam International has signed Leave & License Agreement of its first location for its domestic retail operations under the brand “ORIGEM” at LT Road, Borivali West. 

Stock trades flat on the NSE at ₹348.

Tata Motors Limited sales in the domestic & international market for Q2 FY 2024-25 stood at 2,15,034 vehicles, compared to 2,43,024 units during Q2 FY 2023-24.

Stock traded at ₹965.05 on the NSE, down by 0.98%.

MOIL has fixed/revised prices of different grades of manganese ore and other products:

1. The prices of all Ferro grades of manganese ore with Manganese content of Mn- 44% and above have been decreased by 20% on the prevailing prices since 01.09.2024 w.e.f. midnight of 30.09.2024/01.10.2024 for the month of October, 2024. 

2. The prices of all other Ferro grades of manganese ore with Manganese content below Mn-44% have been increased by 5% on the prevailing prices since 01.09.2024 w.e.f. midnight of 30.09.2024/01.10.2024 for the month of October, 2024.

3. The prices of all SMGR (Mn-30% & Mn-25%), Fines and Chemical grades have been increased by 5% on the prevailing prices since 01.09.2024 w.e.f. midnight of 30.09.2024/01.10.2024 for the month of October, 2024. 

4. The basic price Rs.205000/- PMT of EMD has been continued for the month of October 2024

MOIL shares slip 0.91% to ₹404.15 on the NSE.

Greaves Electric Mobility Private Limited (GEMPL), the electric mobility arm of Greaves Cotton Limited, has announced a partnership with Shriram Finance.

Greaves Cotton stock rose 2.94% on the NSE to trade at ₹179.70.

Lloyds Engineering Works Limited has secured orders exceeding ₹59 cr for the supply of Steel Eco-Pickling systems (₹50cr) and Marine Loading Arms (₹9.3cr). 

Lloyds Engineering stock trades at ₹82.67 on the NSE, up 1.92%.

Aluminium futures (October) on the Multi Commodity Exchange (MCX) has been on a rally over the past three months. It bounced off the support at ₹218.

The contract rose above both 20- and 50-day moving averages by mid-September, a positive indication.

M&M (2.42%), Exide Industries (2.33%), Ashok Leyland (1.42%), MRF (1.14%)

Autl Auto recorded total sales of 3,361 units in Sept. 2024 as against 2,662 units in Sept 2023 (including exports).

Shares trade at ₹647 on the NSE, up 1.41%

V.S.T Tillers Tractors’ total Power Tiller & Tractor sales for September 2024 stood at 2,583 units as against 2,627 units in Sep 2023.

Stock trades at ₹4,798.40 on the NSE, higher by 3.92%.

The quantity of electricity consumed by public charging stations (PCSs) for electric vehicles (EVs) has more than doubled on an annual basis in the first quarter of the current financial year.

As per data from the Central Electricity Authority (CEA), PCSs consumed 176.87 million units (MU) of energy during the April-June quarter in FY25, a growth of more than 108 per cent Y-o-Y. In Q1 FY24, PCSs consumed 84.95 MU energy.

TVS Motor Company recorded monthly sales of 482,495 units in September 2024 with a growth of 20% as against 402,553 units in the month of September 2023.

Shares trade at ₹2,847.25 on the NSE, up 0.26%.

Indian stock markets continued to trade flat in mid-day trading on Tuesday, with the Sensex and Nifty showing marginal declines amid mixed global cues and ongoing investor caution. As of 12.32 pm, the Sensex stood at 84,252.39, down 47.39 points or 0.06 per cent from the previous close. The Nifty50 was trading at 25,790.45, registering a decline of 20.40 points or 0.08 per cent.

Madhav Copper Limited has appointed Rohit Chauhan as Managing Director and Nilesh Patel as a Chairman & Whole-time Director of the company w.e.f. October 01, 2024

GE Power India Limited has received a contract from Blue Energy Limited

(consideration INR 2,404 million and NPR (Nepalese Rupee) 340 million, exclusive of taxes and duties)

GE Power stock gained 1.59% to trade at ₹403 on the NSE

IIT Bombay partners with ABB India to set up state-of-the-art electrical machines and drives lab

ABB India stock rose 1.96% on the NSE to ₹8,212.65

SML ISUZU recorded sales of 1,055 units of total vehicles in Sep 2024 as against 872 units in Sep 2023.

Shares trade at ₹1,925 on the NSE, higher by 5.43%.

Rail Vikas Nigam Limited emerges as the Lowest Bidder (L1) from East Coast Railway (cost ₹283 crore)

for 3rd & 4th line between Jarapada & Talcher Road and Construction of New line between Angul-Balram.

RVNL shares trade at ₹526.10 on the NSE, down by 1.01%.

Storage Technologies and Automation has opened a new sales branch office in Noida

Shares trade flat on the BSE at ₹172

Ashok Leyland recorded sales of 17,233 units in September 2024, including exports, as against 19,202 units in Sep 2023, down 10%.

Ashok Leyland, Flixbus India Signs MoU: Reuters

Shares trade at ₹238.05 on the NSE, up 1.13%.

Birla Estates Private Limited, a wholly owned subsidiary of Aditya Birla Real Estate Limited (formerly Century Textiles and Industries Limited) today announced that Birla Trimaya Phase II – The Park, has sold almost 95% of its inventory within 24 hours of its launch achieving an approximate booking value of about ₹600 Crore.

Stock rose 1.73% on the NSE to trade at ₹2,899.25

Mphasis board has elected Jan Kathleen Hier as the Chairperson of the Board effective October 1, 2024.

Godrej Properties Ltd, a leading Indian real estate developer, announced today that its Board of Directors has approved plans to raise up to ₹6,000 crore through the issuance of various securities. The decision was made during a board meeting held on October 1, 2024.

The shares of Godrej Properties Ltd were trading at ₹3,189, up by ₹28.05 or 0.89 per cent on the NSE today at 12:11 pm.

Solar photovoltaic (PV) module manufacturer Vikram Solar has filed its draft red herring prospectus (DRHP) with SEBI to raise up to ₹1,500 crore through an initial public offering (IPO).

The integrated solar energy solutions provider manufactures solar PV modules and offers engineering, procurement, and construction (EPC) as well as operations and maintenance (O&M) services.

As per the DRHP filed with the capital markets regulator, Vikram Solar aims for an IPO comprising fresh issues of shares up to ₹1,500 crore and an offer for sale (OFS) of up to 17.45 million equity shares by its promoter group.

Escorts Kubota Limited reported a 2.5 per cent year-on-year increase in tractor sales for September 2024, selling 12,380 units compared to 12,081 in September 2023. Domestic tractor sales grew by 5.7 per cent to 11,985 units, while exports fell sharply by 47.1 per cent to 395 units.

The shares of Escorts Kubota Limited were trading at ₹4,223 down by ₹45.80 or 1.07 per cent on the NSE today at 11.30 am.

Steel Strips Wheels has recorded a monthly net turnover of ₹362.12 crore in Sep 2024 against ₹401.88 cr in Sep 2023.

Shares traded at ₹216.57 on the NSE, up 0.99%.

Anjali Pandey has been appointed as President – Generation of Tata Power Company

Tech Mahindra (2.85%), M&M (2.15%), Infosys (1.24%), SBI (1.23%), Wipro (1.21%)

Top losers:

Hindustan Unilever (-1.77%), Asian Paints (-1.53%), IndusInd (-1.13%), Bajaj Auto (-1.10%) Titan (-1.05%)

Stocks advanced on BSE at 12 noon on October 1, 2024, were 2,302 against 1,484 stocks that declined, and 128 remained unchanged. Total stocks traded were 3,914. The number of stocks that recorded a 52-week high was 203, and those that hit a 52-week low was 30. 

A total of 315 stocks traded in the upper circuit, and 199 in the lower circuit.

ZIM Laboratories has completed the process of investment of ₹40 Lakh in the equity shares of its wholly-owned subsidiary, SIA ZIM Laboratories Limited.

Shares were up 1.50% on the BSE, trading at ₹111.45

Zydus receives EIR for the transdermal manufacturing facility

Shares trade flat on the NSE at ₹1,070.55

Wonderla Holidays board to consider fundraising at its meeting on Oct 4.

Shares rose 3.14% to trade at ₹898.40 on the NSE.

Prabhakar Singh has been appointed as Gulshan Polyols’ General Manager- Plant Operations, w.e.f October 01, 2024.

Electric vehicle (EV) registrations in September 2024 saw a notable 25 per cent increase year-on-year, though the growth was only marginal on a month-to-month basis. In the first half of the current fiscal year, EV volumes expanded by 19 pe rcent compared with the same period last year.

The total EV registrations (including all segments) in September 2024 reached 1.49 lakh units, up from 1.19 lakh units in September 2023 and slightly higher than the 1.47 lakh units recorded in August 2024. , according to Vahan data.

Rathi Steel and Power Limited plans to invest up to Rs. 50 crores to set up a forward integration project at its existing facility in Ghaziabad. 

Shares were up 4.60% to trade at ₹65.25 on the BSE.

Bank Nifty opened today’s session with a gap-down at 52,844 versus yesterday’s close of 52,978. The index is now hovering around at 52,860, down 0.2 per cent.

Karur Vysya Bank Limited recorded its total business as on September 30, 2024, at ₹1,76,135 crore as against ₹1,53,516 crore in Sep 2023. Total deposits in Sep 2024 stood at ₹95,839 crore as against ₹83,068 crore in the previous year.

Shares traded at ₹215 on the NSE, up 0.21%.

NTPC informed that the first part capacity of 50 MW out of 220 MW Shajapur Solar Project in Shajapur Solar Park, MP of NTPC Renewable Energy Limited (NTPC REL), a stepdown subsidiary of NTPC Limited through its wholly owned subsidiary NTPC Green Energy Limited and second part capacity of 98.78 MW out of 300 MW Shambu ki Burj-2 Solar PV Project at Bikaner, Rajasthan of NTPC Green Energy Limited, is declared on commercial operation w.e.f. September 30.

Shares inched up 0.32% to trade at ₹444.60 on the NSE.

Nifty is attempting to bounce back after having fallen below the psychological 26,000 level on Monday. The index rose to a high of 25,907 and has come down from there. It is currently trading at 25,827, up marginally by 0.06 per cent. The advances/declines ratio is at 23:27. This is negative now.

VMart (10.52%), Zee Media (9.99%), PC Jeweller (5%), IIFL Securities (4.01%), Reliance Power (3.90%), Senco Gold (3.85%)

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NCC Limited has received orders valuing ₹ 2,327 Crores (Excluding GST) in the month of September 2024.

Stock gained 1.97% to trade at ₹307.70 on the NSE

Sun Pharmaceutical Industries and Philogen S.p.A have entered into a global licensing agreement for commercializing Philogen’s specialty product, Fibromun (L19TNF). Fibromun, an innovative anti-cancer immunotherapy, is being investigated in registration trials by Philogen for the treatment of soft tissue sarcoma and glioblastoma.

Sun Pharma shares trade flat on the NSE at ₹1,914.95

Tech Mahindra (3.47%), Infosys (0.98%), Wipro (0.74%), Mphasis (0.61%), Coforge (0.61%)

Escorts Kubota Limited Agri Machinery Business Division in September 2024 sold 12,380 tractors, registering a growth of 2.5 percent as against 12,081 tractors sold in September 2023. 

Escorts Kubota shares trade flat on the NSE at ₹4,255.75

RITES has received the LOA for supply, commissioning and one year onsite warranty of overhauled in-service Cape Gauge 3100 HP, diesel electric locomotive etc. ($4.28 Million)

Shares trade flat on the NSE at ₹344.90.

Mahindra & Mahindra Ltd. (M&M Ltd.) announced that its overall auto sales for the month of September 2024 stood at 87839 vehicles, including exports. In the Utility Vehicles segment, Mahindra sold 51062 vehicles in the domestic market, a growth of 24%, and overall, 52590 vehicles, including exports. The domestic sales for Commercial Vehicles stood at 23706.

M&M shares trade at ₹3,118.70 on the NSE, up 0.77%.

Zen Technologies Limited has secured a ₹46 crore Annual Maintenance Contract (AMC) from India’s Ministry of Defence, the company announced today. The five-year agreement, which includes 18 per cent GST, covers the maintenance of simulators designed and developed by Zen.

The shares of Zen Technologies Limited were trading at ₹1,721.70 up by ₹5.40 or 0.31 per cent on the NSE today at 10.05 am.

Bajaj Auto’s total sales in September 2024 stood at 4,69,531 units, including exports, as against 3,92,558 units in Sep 2023.

Shares trade flat on the NSE at ₹12,267.50

NDR Auto Components has received approval for listing of 11892652 Bonus Equity Shares from BSE Limited.

Shares declined 1.46% to trade at ₹892.70 on the NSE

Welspun Corp announced the receipt of large order in the US valued at ₹2,400 Cr (approx.), for supply of Coated HSAW Pipes for a Natural gas Pipeline project. 

Shares rose 1.21% to trade at ₹775.60 on the NSE

Top gainers on the NSE as at 9.30 am:

Tech Mahindra (3.29%), M&M (1.08%), L&T (0.93%), Power Grid (0.86%), SBI (0.81%)

Top losers:

JSW Steel (-1.25%),Asian Paints (-1.09%), Hindalco (-1.08%), Maruti (-0.73%), Titan (-0.52%)

Indian stock markets opened flat on Tuesday, reflecting cautious investor sentiment amid mixed global cues and recent comments from Federal Reserve Chair Jerome Powell.

The benchmark Sensex opened at 84,257.17, marginally lower than its previous close of 84,299.78, while the Nifty50 began trading at 25,788.45, down from Monday’s close of 25,810.85.

Crude oil futures traded higher on Tuesday morning as Israel began a ground invasion of Lebanon. At 9.20 am on Tuesday, December Brent oil futures were at $71.81, up by 0.15 per cent, and November crude oil futures on WTI (West Texas Intermediate) were at $68.29, up by 0.18 per cent. October crude oil futures were trading at ₹5739 on Multi Commodity Exchange (MCX) during the initial hour of trading on Tuesday against the previous close of ₹5742, down by 0.05 per cent, and November futures were trading at ₹5728 against the previous close of ₹5732, down by 0.07 per cent.

Hydra Trading, a public shareholder of RBL Bank, on Monday sold a 1.24 per cent stake in the private sector lender for over ₹152 crore through an open market transaction.

According to block deal data available on the BSE, Hydra Trading Pvt Ltd offloaded 75.11 lakh shares or 1.24 per cent stake in RBL Bank.

The shares were sold at an average price of ₹203 apiece, taking the deal value to ₹152.49 crore.

JPMorgan says top picks in banks include ICICIBank, SBI, ShriramFin, CIFC Asset Mgmt, LICHsgFin, KotakMahBank, HDFCAMC.

Jefferies says tighter processes by RBI may weigh on growth of gold financiers, but large gold NBFCs like Muthoot should be better placed

Government-owned public financial institution REC Ltd received a huge response to its issuance of zero coupon bonds (ZCBs), with investors placing bids aggregating ₹33,671.32 crore against the notified amount of ₹5,000 crore due to favourable tax treatment of these bonds.

Kalpataru Projects: Company bags orders worth Rs 1,241 crore from Indian and overseas market. 

Blue Dart: Company to implement general price increase w.e.f. January 1, 2025. 

Alphageo India: Company gets contract worth ₹131.63 cr from Oil India, gets contract for 2D seismic data acquisition in Ganga-Punjab basin. 

R Systems: Company launches Chaos Engineering integrated DR Model to enhance business continuity and resilience. 

Jindal Stainless: Company partners with CJ Darcl to manufacture lightweight containers. 

Piramal Pharma: Board approves $80 million expansion plan for Sterile injectables facility in Lexington, Kentucky

Thomas Cook: Company in joint venture with Atirath Technologies to build generative AI solutions for travel domain. 

India Glycol: Company adds further capacity of 100 KLPD to existing grain based distillery at Kashipur, Uttarakhand. 

NTPC: NGEL Signs MoU with Govt of Rajasthan for development of 25 GW of RE Projects. 

NHPC: Company says that the revised scheduled date for commissioning of 300 mw solar PV project in Bikaner, Rajasthan

Tata Power: Company inks MOU with Rajasthan government for an investment plan of Rs 1.2 TRLN in power distribution, transmission, and renewables

Unichem Laboratories: Company approved entering into agreements with Bayshore pharmaceuticals, Purchase of rights, title, interest in product, goodwill associated with 9 Andas of Bayshore USA. 

Ram Ratna Wires: Company executed deed of amendment to alter JV agreement with Epack Durable, amendment to JVA for having equal ownership, rights in JV 

Seamec: Vessel Seamec Ii Developed Technical Snag Resulting In Disruption of Power and Blackout 

Solex Energy: Company got work order worth Rs 519.7 million for 40 MWP solex mono Perc bifacial solar modules

Nortehrn Arc: Revenues at Rs 578 cr vs Rs 401 cr. Profit at Rs 94 cr vs Rs 71 cr YoY 

SpiceJet: Plutus Wealth Management buys 85 lakh shares of SpiceJet at ₹59.95/Sh. 

PCJeweller: Company approves a share split in the ratio of 1:10 to enhance liquidity. 

PB Fintech: Company will invest in an independent health maintenance organisation 

Yatharth Hospitals: Company is planning to scale up it’s bed occupancy network in Greenfield and Brownfield. 

IREDA: Loans sanctioned increased by 303% from last year to ₹17,860 crore vs ₹4,437 crore (YoY).

Adani Power: Company signs business transfer agreement with NMPL to acquire 500 MW ADTPS in Maharashtra.

Bharti Airtel: Company prepays Rs 8,465 crore to clear deferred liabilities for spectrum acquired in 2016 

ICICI Sec: Appeal against ICICI Securities delisting approval mentioned at NCLAT Delhi.

Mankind Pharma: Company’s board approves raising up to Rs 10,000 crore through NCDs and commercial papers. 

Premier Explosives: Srihari Pakalapati resigns from the post of CFO of company 

IRCTC: Ajit Kumar ceases to be Director (Finance) & CFO of the company w.e.f. September 30, 2024.

Finolex Industries: Company approves appointment of Chandan Verma as interim CFO. 

Newgen Software: Company unit got purchase order worth USD 1.5 million 

BLS E-Services: Company expect to complete acquisition of Aadifidelis solutions by Dec 31, 2024.

HMA Agro: Company approved disinvestment of entire shareholding in Indus farmers food Company.

Info Edge: Company Unit to Invest about Rs 42 million In Nexstem India.

Mercury Ev-tech: Company Approved Acquisition Of 70% Stake in Haitek Automotive for Rs 3.5 million.

Piccadily Agro: Company approved raising of funds upto Rs 500m 

Bank of Maharashtra: Bank launches QIP, sets floor price at Rs 60.37/share. 

Andhra Cements: Company files draft letter of offer with SEBI, BSE & NSE for proposed rights issue.

Gas based stocks: Oil Ministry: Caps gas price from difficult fields at $10.16/MMBTU. 

PC Jeweller: Vishan Deo to replace Sanjeev Bhatia as Chief Financial Officer. 

Gold Financing Stocks: RBI finds several irregularities in practice of loans against gold ornaments and jewellery.

* BALRAMPUR 

* BANDHANBANK 

* HINDCOPPER 

* RBLBANK

⁠Avantel

Company has received a Purchase Order worth INR 44.5 Cr from Larsen & Toubro Limited, for Supply of Satcom Systems, needs to be executed by March 2025.

Kaushalya logistics 

Company has signed a LOI with global quick-service restaurant giant McDonald’s to open a restaurant in one of the properties owned by the company. This strategic collaboration marks an important step for company as it continues to diversify its business portfolio, with a growing emphasis to partner with global enterprises. This partnership strengthens its real estate business and diversifies its revenue streams. The entry of McDonald’s, a globally recognized brand, signals the attractiveness of KLL’s commercial real estate offerings and highlights the company’s capability to attract top-tier clients in high-demand locations.

Maxposure: FUND RAISE

BoD has approved the issuance of 14.9L equity shares at INR104/each, aggregating to INR 15.5 Cr, on a Preferential basis to Non-Promoter. Subscribers include Capacious Wealth Management LLP (Mudit), CCV Emerging Opportunities Fund – I, and NAV Capital Emerging Star Fund.

Company has commenced the commercial operations of a new Multi Brand Store under the brand name ‘Bajaj Electronics’ at Narsingi, Ranga Reddy District, Telangana.

BoD meeting is scheduled on 04/10/2024 to consider fund raise.

7.38 Jun 2027 101.7400 6.6638

7.06 Apr 2028 101.2050 6.6699

7.04 Jun 2029 101.4600 6.6679

7.32 Nov 2030 103.1100 6.6899

7.02 Jun 2031 101.7200 6.6951

7.18 Aug 2033 102.7350 6.7632

7.10 Apr 2034 102.4300 6.7495

7.18 July 2037 103.2350 6.7962

7.23 Apr 2039 104.0125 6.7909

7.30 Jun 2053 105.15 6.8850

7.09 Aug 2054 102.3100 6.9052

7.34 Apr 2064 105.4800 6.9258

7.46 Nov 2073 107.57 6.9164

NDS OM : 50295.00 crs

SDL Lvl

10 yr 7.10-7.08

15 yr 7.11-7.108

20 yr 7.11-7.09

Tbill Lvl

091 DTB 6.42-6.40

182 DTB 6.54-6.52

364 DTB 6.55-6.54

OIS

1Y 6.39/6.38

3Y 6.03/6.02

5Y 6.03/6.01

1Year fwds 201.25/202.25

Spot 83.79

US 10Y 3.77

Brent 71.55

Vikram Solar Limited, engaged in the manufacturing of solar photovoltaic (PV) modules and providing comprehensive EPC services, files DRHP with SEBI.

Size:

•Fresh Issue: Up to ₹15000 million of Equity Shares with a face value of ₹10 each.

•Offer for Sale: Up to 17,450,882 Equity Shares with a face value of ₹10 each.

FV: ₹10

Retail Reservation: 35%

FY24

Rev : 2524 Cr

PAT : 80 Cr

Globe Civil Projects Limited, engaged in civil infrastructure projects across India, has submitted its DRHP with SEBI for an upcoming IPO.

Key Highlights: 

- Fresh Equity Issue: Up to 19,000,000 Equity Shares at a face value of ₹10 each, aggregating up to [●] million. 

- Offer for Sale: Not applicable.

Additional Details: 

- Face Value (FV): ₹10 

- Retail Allocation: 35%

Financial Overview (FY24): 

- Revenue: ₹332 crore 

- Profit After Tax (PAT): ₹15 crore

Prostarm Info Systems Limited, engaged in IT and related services across India, has submitted its DRHP with SEBI for an upcoming IPO.

Key Highlights: 

- Fresh Equity Issue: Up to 16,000,000 Equity Shares at a face value of ₹10 each, aggregating up to [●] lakh. 

- Offer for Sale: Not applicable.

Additional Details: 

- Face Value (FV): ₹10 

- Retail Allocation: 35%

Financial Overview (FY24): 

- Revenue: ₹257.87 crore 

- Profit After Tax (PAT): ₹22.83 crore

DevX Accelerator Limited, engaged in business acceleration and innovation services across India, has submitted its DRHP with SEBI for an upcoming IPO.

Key Highlights: 

- Fresh Equity Issue: Up to 24,700,000 Equity Shares at a face value of ₹2 each, aggregating up to [●] million. 

- Offer for Sale: Not applicable.

Additional Details: 

- Face Value (FV): ₹2 

- Retail Allocation: 10%

Financial Overview (FY24): 

- Revenue: 1080.87 million

- Profit After Tax (PAT): 4.37 million

Rahee Infratech Limited, engaged in infrastructure-related services across India, has submitted its DRHP with SEBI for an upcoming IPO.

Key Highlights: 

- Fresh Issue: Up to 4200 million Equity Shares with a face value of ₹2 each, aggregating up to ₹[●] million.

- Offer for Sale: Up to 2,780,857 million Equity Shares with a face value of ₹2 each.

Additional Details: 

- Face Value (FV): ₹2 

- Retail Allocation: 35%

Financial Overview: 

- Revenue : ₹9657.37 million

- Profit After Tax (PAT): ₹ 151.28 million

Midwest Limited files DRHP with SEBI.

Key Highlights: 

- Fresh Issue: Up to ₹2,500 million of Equity Shares with a face value of ₹5 each. 

- Offer for Sale: Up to ₹4,000 million of Equity Shares with a face value of ₹5 each.

Additional Details: 

- Face Value (FV): ₹5 

- Retail Allocation: 35%

Financial Overview: 

- Revenue: ₹5,856.24 million 

- Profit After Tax (PAT): ₹1,003.24 million

Paychex, Inc. (Pre market) (Sector- Technology)

McCormick & Company (Pre market) (Sector- FMCG)

Acuity Brands, Inc. (Pre market) (Sector- Construction)

Nike, Inc. (Post market) (Sector- Consumer)

Lamb Weston Holdings, Inc. (Post market) (Sector- FMCG)

Major U.S. listed stocks result calendar 02.10.2024 

RPM International Inc. (Pre market) (Sector- Chemical)

ConAgra Brands, Inc. (Pre market) (Sector- FMCG)

Levi Strauss & Co (Post market) (Sector- Textiles)

India, China and Hong Kong @ Market Holiday

TENT OPEC-JMMC Meetings

17.45 U.S. ADP Non-Farm Employment Change (Expected: 124K versus Previous: 99K)

20.30 U.S. FOMC Member Bowman Speaks

China @ Market Holiday

TENT INDIA September Month Auto Sales

10.30 INDIA HSBC Manufacturing PMI (Expected: 57.7 versus Previous: 57.7)

13.30 EURO Final Manufacturing PMI (Expected: 44.8 versus Previous: 44.8)

14.00 U.K. Final Manufacturing PMI (Expected: 51.5 versus Previous: 51.5)

14.30 EURO CPI Estimate y/y (Expected: 1.9% versus Previous: 2.2%)

19.30 U.S. ISM Manufacturing PMI (Expected: 47.6 versus Previous: 47.2)

19.30 U.S. JOLTS Job Openings (Expected: 7.64M versus Previous: 7.67M)

20.30 U.S. FOMC Member Bostic Speaks

Notwithstanding the blood bath on the exchange, three companies made sterling debuts across the main board and SME exchange on Monday.

In all, 12 companies that raised about ₹1,052 crore through IPOs will get listed this week. Of these, three companies — Manba Finance, The Rappid Valves and Wol India 3D — were listed on Monday.

Manba Finance listed with a gain of 25 per cent at ₹150 on BSE against the issue price of ₹120 and gained further strength to close at ₹157 keeping in line with the recent trend of bumper new listings on the exchange.

National Capital Region Transport Corporation (NCRTC) said on Monday that it has signed an agreement with Power Trading Corporation (PTC India) to procure low-cost power, including green energy, through power exchanges for the RRTS corridor.

This collaboration will enable NCRTC to meet part of its power requirement sourcing through power exchanges at its Receiving Substations (RSS) located in Ghaziabad, Modipuram, Shatabdi Nagar, and Muradnagar in Uttar Pradesh, as well as Sarai Kale Khan (SKK) in Delhi, to reduce overall power costs.

Tata Steel is ceasing operations at Blast Furnace 4 along with other associated iron and steelmaking assets at Port Talbot, the UK’s largest steel plant, ending ironmaking at the site.

Adani Energy Solutions Limited (AESL) is operating a mix of regulated and unregulated businesses. It has transitioned from operating regulated transmission assets to becoming a leader in competitively built transmission and from operating regulated distribution assets to emerging as a leader in smart meter assets. It has tapped into unregulated businesses and scaled up emerging new opportunities. 

Earnings growth may be driven by: New transmission opportunities, growth in Mumbai DISCOM, existing smart meter wins and new opportunities. 

We visited Navin Fluorine’s plant based in Dewas, Madhya Pradesh which caters to its CDMO business vertical. The company manufacture pharma intermediates for commercialised (50-60 per cent) and last-stage molecules. 

The management revisited its CDMO guidance of $100 million by FY27 on the back of execution of cGMP-4 phase-1 (dedicated for Fermion) and conviction to start phase-2 expansion in the next 6-12 months, subject to addition of new molecules/clients. The overall tone of new CEO Nitin Kulkarni remains positive with respet to all its business verticals, with focus on adding new customers, product life-cycle management, building R&D capabilities, cost rationalisation and local sourcing, capacity utilisation, and governance. 

The board of Securities and Exchange Board of India (SEBI) on Monday gave its nod to a new asset class and a liberalised framework for passive mutual fund schemes, while deferring changes to F&O norms and putting off the move towards instant settlement indefinitely.

Rights issues will need to be completed in 23 working days from the date of issuer’s board meeting approving the issue, as against present average timelines of 317 days

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

Here’s an interesting stock idea: The stock idea that we have for you today is APL Apollo Tubes. The stock has begun the week on a strong note. The 3 per cent rise on Monday has taken the share price well above a key resistance. That leaves the outlook bullish. Check out the latest episode of bl.Today’s Pick to learn more

The outlook for APL Apollo Tubes is bullish. The stock has begun the week on a strong note by rising over 3 per cent. This rise has taken the share price well above ₹1,520 - a key resistance. The region between ₹1,520 and ₹1,500 will now act as a strong support.