Stock Market Highlights: Sensex, Nifty settle lower on FII selling; Bajaj Auto plummets 13%; Hyundai IPO sails through

Market benchmark indices Sensex and Nifty slumped on Thursday, taking their downward trend to the third day running amid unabated foreign fund outflows.

Intense selling in realty, auto, consumer discretionary and consumer durable stocks also dragged the markets lower.

The BSE Sensex tanked 494.75 points or 0.61 per cent to settle at 81,006.61. During the day, it tumbled 595.72 points or 0.73 per cent to 80,905.64.

The NSE Nifty slumped 221.45 points or 0.89 per cent to 24,749.85.

The shares of Angel One were trading at ₹3,150, down by ₹86 or 2.66 per cent, on the NSE today at 2.30 pm. 

Angel One, a leading digital broking firm, expects a 20-22 per cent decline in F&O trading volumes following SEBI’s new derivatives regulations effective November 20. The company anticipates these changes would have a 13-14 per cent impact on its net income, Chairman and Managing Director, Dinesh Thakkar, said in a conversation with a news channel. 

Major gainers: Infosys (2.84%), Tech Mahindra (2.81%), Power Grid (1.21%), L&T (0.95%), SBI (0.73%) 

Top losers: Bajaj Auto (-13.11%), Shriram Finance (-4.11%), M&M (-3.52%), Nestle India (-3.44%), Hero Motocorp (-3.39%)

Relicab Cable Manufacturing Ltd said it has received a purchase order worth approximately ₹84 lakh (excluding taxes) from a multinational technology conglomerate.

The shares of Relicab Cable Manufacturing Ltd were trading at ₹138.25, down by ₹2.25 or 1.60 per cent on the BSE today at 2.44 pm.

Geojit Financial Services recorded its consolidated net profit for the quarter ended September 2024 at ₹57.41 crore as against ₹37.47 crore in the corresponding quarter last year.

Shares rise 2.81% to ₹148.70 on the NSE.

Major gainers:

Tech Mahindra (2.38%), Infosys (2.18%), Power Grid (1.19%), L&T (1.06%), SBI (0.85%) 

Top losers: 

Bajaj Auto (-12.50%), Shriram Finance (-3.84%), M&M (-3.58%), Nestle India (-3.26%), Hero Motocorp (-3.24%)

Stocks advanced on BSE at 3 pm on October 17, 2024, were 1,237 against 2,693 stocks that declined, and 107 remained unchanged. Total stocks traded were 4,037. The number of stocks that recorded a 52-week high was 242, and those that hit a 52-week low was 32. A total of 296 stocks traded in the upper circuit, and 254 in the lower circuit.

Nestle India on Wednesday said it is in the process of introducing variants of its infant food brand Cerelac with “no refined sugar”. The company said it had been working on the expansion of its infant food portfolio in India with no refined sugar formulations for the past three years.

Havells India recorded its standalone net profit for the quarter ended Sept 2024 at ₹272.59 crore as against ₹249.10 crore in Sept 2023. 

Shares trade 3.94% lower on the NSE at ₹1,862.80.

Tata Communications recorded its consolidated net profit for the quarter ended Sept 2024 at ₹227.27 crore as against ₹221.26 crore in the corresponding quarter last year.

Shares trade ₹1,860.25 on the NSE, down by 3.24%.

“Gold continues to trade positive and has hit yet another all-time high with COMEX Dec. future briefly moving above $2700 per ounce, supported by expected rate cuts from global central banks, renewed buying among ETF investors, and safe-haven demand from geo-political tensions. However, gains are likely to be capped due to profit-booking and a stronger greenback in the overseas market”.

“On chart... trend remains positive till prices are above 76600/ 76450, upside prices may test Target at 77080/ 77250”.

“Oil prices are trading close to their 2-week lows, as forecasts for weaker oil demand and easing worries about the Middle East conflicts have resulted in diminishing risk premium. Prices have been weighed by weaker demand outlook and reports that Israel would not strike Iranian nuclear and oil sites, easing fears of supply disruptions”.

“On charts... momentum looks sideways with resistance at 6000/ 6180, while on the downside support holds at 5850/ 5730”.

Bharat Forge Limited has entered into a share purchase agreement for the acquisition of 100% shareholding in AAM India Manufacturing Corporation Private Limited.

Shares traded flat on the NSE at ₹1,461.

The initial public offer of Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, got fully subscribed on the third day of the bidding on Thursday.

The ₹27,870 crore initial share sale got bids for 14,07,68,187 shares against 9,97,69,810 shares on offer, translating into 1.41 times subscription, as per NSE data till 13:21 hours.

Hyundai Motor India IPO has been subscribed 1.24 times as of 1.15 pm on October 17, 2024. The QIB portion has been subscribed 3.27 times, NII 0.38 times, retail 0.44 times, and those reserved for employees 1.56 times. The issue closes today.

Aniket Metals has raised Rs 550 million in a private placement round from Bharat Value Fund, managed by Pantomath Capital Management. 

Established in 2012, AMPL is a leading player in cookware, kitchen gadgets, cutlery, and kitchenware, primarily sold in the USA and the UK markets. AMPL manufactures 650+ products across six broad categories in stainless steel and aluminium, catering to all segments in retail, commercial, and Hotel, Restaurant and Café/Catering (HoReCa) sectors.

The Company is a strategic vendor to Walmart Inc. and currently serves 7 of the top 10 global retailers, including ASDA, TJX, ROSS Inc., and Lidl. In 2020, it acquired the Italian brand ‘MORINOX’ to incorporate Italian automation and design into its product range. 

Moreover, the Company plans to launch its brand ‘METALUX’ nationally, which will hit the shelves of major retailers during Diwali, followed by launches on e-commerce and quick commerce platforms. The Company has an aggressive distribution strategy and aims to be available nationally across all channels by Q1 2025.

The Company’s products are ISO 9001:2008 certified, demonstrating its commitment to quality and safety. AMPL offers products with innovative, durable, aesthetically pleasing, and functional designs.

Sandip Raichura, CEO - Retail Broking and Distribution, Director - PL Broking and Distribution.

“Gold has , since our previous piece indicating $2550 as a crucial level, held on to minor gains in the background of the Israeli conflict and the shift in global monetary policy, with major central banks embarking on rate cuts. To add to this mix is the tight presidential race between Trump and Harris in the US – with the outcome too uncertain, markets are becoming risk-averse on the margin. With increased risk aversion across the globe, , gold’s attractiveness as a safe-haven asset has come to the fore. Although China has paused its gold purchases in the second quarter, it has showed no signs of selling reserves in the following months while other central banks continue to accumulate including our own. As we mentioned previously, the $2,550 per ounce level as a pivotal point for potential pullbacks. Should prices revisit this level, traders might find buying opportunities for mid-term bullish positions. These support levels are expected to continue to hold especially as the fourth quarter presents a perfect geopolitical recipe for gold’s performance. The risk is that technical indications suggest gold prices as being significantly overbought with both the weekly and monthly RSIs lodged above 80 levels or thereabouts – history has shown that these RSI levels result in a sharp turn in gold prices. Despite this history though, we remain bullish with a stop placed at around 2602 levels. The movement in the DXY, which has climbed up in the last week, remains a critical sign of the times to come for precious metals – a rise here is negative for gold.”

Investment banking firm Morgan Stanley on Wednesday bought shares of Titagarh Rail Systems for over Rs 85 crore through an open market transaction. 

Titagarh shares surged 5.67% on the NSE to ₹1,197.20

Macquarie

Following strong 13% relative rebound in 3Q’24, MSCI China has lost ~3%-4% in the first two weeks of October. While it still leaves the index up more than 6% vs MXEF YTD, there is a noticeable erosion in investor enthusiasm.

On the other hand, India’s underperformance has subsided, and partially reversed, with overall YTD returns still in the positive territory (up ~7%-8%). India vs China remains the single most important question facing EM investors, and it is becoming harder to make this choice.

First, India’s equities are facing triple negatives: weakening GDP growth, high EPS expectations (~17%) and historically the highest multiples (~23x). From the flow perspective, while domestic liquidity is continuing to build, the last two weeks have seen meaningful (US$7bn) net foreign equity outflows.

Finally, despite some recent erosion, MSCI India is still seating on ~70% cumulative four year outperformance. Second, on the other side, investors expect that China will ultimately embark on meaningful stimuli that will not only underwrite ‘24 growth but extend into ‘25-26. Although few believe that China will address its deeply imbedded structural challenges, at the very least, it should be able to place the floor under nominal and real GDP, helping corporates to deliver something close to the current (10%-11%) EPS estimates. Also, there is a perception that the government is finally focusing on the economy, and hence, it is likely to underplay political, geopolitical and regulatory issues. Finally, MXCN remains relatively cheap (~10x), and is seating on ~35% cumulative four year underperformance

Nestle India consolidated net profit at Rs 899 crore versus Rs 908 crore. Total sales at Rs 5,074.76 crore vs Rs 5,009.5 crore. Suresh Narayanan, Chairman and Managing Director of Nestlé India, stated, “Despite a challenging external environment with muted consumer demand and high commodity prices especially for coffee and cocoa, we remained resilient in our pursuit to deliver growth. 

This quarter, 5 of our top 12 brands grew at double-digit. However, some key brands witnessed pressure due to softer consumer demand and we focus on them and have in place robust action plans. It is heartening to note that in the last 9 months, 65% of our top 12 brands including MAGGI noodles showed positive volume growth. Total sales growth up 1.3 per cent , domestic sales growth up at 1.2 per cent.

Company introduces Cerelac “no refined sugar’ variants. says out of 21 variants , 14 variants will have no refined sugar. This comes after a Swiss NGO had accused Nestle of having higher sugar content in infant food products in developing markets compared to developed markets

Major gainers on the NSE as at 12 noon:

Infosys (1.45%), SBI (1.17%), Hindalco (0.72%), Tech Mahindra (0.64%), Reliance (0.41%)

Top losers:

Bajaj Auto (-11.68%), Hero Motocorp (-3.22%), Shriram Finance (-3.18%), M&M (-2.91%), Adani Enterprises (-2.74%)

Stocks advanced on BSE at 12 noon on October 17, 2024, were 1,277 against 2,516 stocks that declined, and 121 remained unchanged. Total stocks traded were 3,914. The number of stocks that recorded a 52-week high was 220, and those that hit a 52-week low was 25. A total of 270 stocks traded in the upper circuit, and 200 in the lower circuit.

Relicab Cable Manufacturing Limited has received the contract of 7C*4 sq. mm, PVC Cable, FRLS Unarmoure, 47*1.5 sq. mm, PVC Cable, FRLS, Unarmo and Std Cable 7G1,5 PUR/ Screen/ Outdoors totaling to Rs 84 lakhs approx.

Relicab shares trade flat on the BSE at ₹141.50.

Mahindra Holidays & Resorts India announced the opening of ‘Club Mahindra Bharatpur’ Resort in Rajasthan. 

Mahindra Holidays & Resorts India stock declined 1.24% on the NSE to ₹382.35

Hyundai Motor India Limited’s initial public offering (IPO) continued to see modest investor interest on its third and final day of bidding, with an overall subscription of 0.45 times as of 10:36 am today. The employee portion remained the standout performer, achieving 1.43 times oversubscription.

The institutional investor segment (QIB) showed improved participation at 0.63 times, with foreign institutional investors dominating the category with bids for 1.77 crore shares. Domestic financial institutions contributed marginally with 826 shares, while other QIBs bid for 48,776 shares.

EQUIPPP has signed a Memorandum of Understanding (MoU) with Young India Skills University. This collaboration aims to introduce the BFSI Skill Development Program, designed to provide industry-relevant skills and job opportunities in the Banking, Financial Services, and Insurance (BFSI) sector for students in Telangana. 

Equippp Social Impact Technologies stock traded at ₹21.85 on the BSE, lower by 1.31%.

Bank Nifty opened today’s session marginally higher at 51,849 versus yesterday’s close of 51,801. But as the index faced considerable selling pressure, it started to depreciate and is now at 51,300, losing 1 per cent so far today.

Nifty Private Bank has lost 1.1 per cent so far today whereas Nifty PSU Bank is down 0.7 per cent.

Welspun Corp shares trade flat on the NSE at ₹723.40. Its subsidiary, Sintex-BAPL has acquired 100% stake in Weetek Plastic from its current shareholders.

RVNL shares surge 4.39% on the NSE to ₹500.65. Company emerged as the lowest bidder (L1) for a contract awarded by Maharashtra Metro Rail Corporation Ltd.

The shares of Gujarat Fluorochemicals Limited (GFL) were trading at ₹4,705.05, up by ₹29.90 or 0.64 per cent, on the NSE today at 10.15 am, a day after the company announced that it has received a customs duty demand of ₹304.7 crore plus penalties from the Mumbai Customs Commissioner’s office.

Nifty 50 began today’s session higher at 25,027 versus yesterday’s close of 24,971. However, it started falling after opening and is now at 24,810, down 0.6 per cent.

The advance/decline ratio of the benchmark index currently stands at 13/37, a bearish sign. Infosys, up 1.4 per cent each, is the top performer. Bajaj Auto is the top loser by slumping nearly 10 per cent.

Hyundai Motor India IPO has been subscribed 0.43 times as of 10.09 am on October 17, 2024. The QIB portion has been subscribed 0.58 times, NII 0.27 times, retail 0.40 times, and those reserved for employees 1.38 times. The issue closes today.

Hi-Tech Pipes Limited announced the commencement of 5 MW of captive green power utilisation, sourced from its rooftop solar installation and open access agreements. 

Shares trade 1.93% lower on the NSE at ₹194.56.

Larsen & Toubro’s (L&T) Hydrocarbon Business unit has won a significant contract from Rashtriya Chemicals and Fertilizers Limited (RCF) for constructing a new fertilizer plant, the company announced today in a regulatory filing.

The shares of Larsen & Toubro’s (L&T) were trading flat at ₹3,532.95 on the NSE today at 12.25 pm.

Tata Power Company Limited has received Letter of Intent (LOI) from REC Power Development and Consultancy Limited (a wholly owned subsidiary of REC Limited) to acquire ERES-XXXIX Power Transmission Limited (ERES-XXXIX), a project special purpose vehicle (SPV)‘

Shares down 1.43% on the NSE at ₹453.85.

Check here in live updates

Mphasis board has approved further investments in the equity share capital of Mphasis Europe BV, a wholly owned subsidiary of the Company, up to € 30 million. 

Shares were up 2.61% on the NSE, trading at ₹2,987.30

Reliance Industries has received an order from the Superintendent of Central Goods & Services Tax and Central Excise, Division - I, Lucknow, levying on the Company a penalty of Rs. 64,917 under Section 74 of the Central Goods and Services Tax Act, 2017, the Uttar Pradesh Goods and Services Tax Act, 2017 and the Integrated Goods and Services Act, 2017. The Order has been passed alleging incorrect availment of input tax credit by the Company. The Company intends to file an appeal against the Order. 

Shares trade flat on the NSE at ₹2,724.30

JSW Renew Energy Seventeen Limited, a step-down subsidiary of JSW Energy, has signed a Power Purchase Agreement for a STU-connected 192 MW Wind-Solar Hybrid capacity with Gujarat Urja Vikas Nigam Limited.

JSW Energy shares were up 1.10% on the NSE to ₹696.85

Oberoi Realty Limited has announced the launch of residential project in Thane, Maharashtra.

Shares slip 0.97% on the NSE to ₹2,011.

Patel Engineering has signed a Memorandum of Understanding (MOU) with Ircon International Limited for collaboration and co-operation with each other to explore, identify, pursue and jointly execute mutually beneficial business opportunities in various infrastructure projects in India and overseas. 

Patel Engineering stock rose 2.15% on the NSE to ₹55.61.

Ircon International stock was up 2.55% on the NSE to ₹229.20

Praj Industries has unveiled India’s First Demonstration Facility for Biopolymers in Pune 

Shares trade flat on the NSE at ₹807.85

Gujarat Fluorochemicals has received an appealable order passed by the office of the Commissioner of Customs, Mumbai demanding IGST as customs duty with applicable interest and penalty equivalent to the duty amount with fine under the Customs Act, 1962.

Shares were up 1.56% on the NSE to ₹4,747.90

Top gainers on the NSE as at 9.30 am:

Infosys (1.49%), Hindalco (1.34%), SBI (1.17%), Wipro (1.06%), L&T (0.80%)

Top losers:

Bajaj Auto (-7.53%), Hero Motocorp (-3.75%), M&M (-2.08%), Eicher Motors (-1.87%), BPCL (-1.55%)

Ex - Stock Split 18 Oct 2024 (Tomorrow) 

Last day trade for before split Today

Humming Bird Education Ltd 

Stock Split From Rs.10/- to Rs.1/- 

Previous day Closing Price – Rs. 991

HEG Ltd. 

Stock Split From Rs.10/- to Rs.2/- 

Previous day Closing Price – Rs. 2,479 

Sacheta Metals Ltd. 

Stock Split From Rs.10/- to Rs.2/- 

Previous day Closing Price – Rs. 27

Thursday, 17 October, 2024 (Today)

Derivative Segment

• Havells Ltd

• Infosys Ltd

• Nestle Ltd

• Polycab Ltd

• Wipro Ltd

• Axis Bank Ltd

• LTIMindtree Ltd

• Tata Comm Ltd

• Tata Chem Ltd

Cash Segment

• Ceat Ltd.

• Central Bank Ltd

• IOB Ltd

• Jindal Stainless Ltd.

• Tanla Platforms Ltd.

Friday, 18 October, 2024

Derivative Segment

• ICICI Lombard Ltd

• L&T Finance Ltd

• Oberoi Realty Ltd

• Tata Consum Ltd

Cash Segment

• Aether Industries Ltd.

• Jindal Saw Ltd.

• JIO Financial Ltd.

• Mastek Ltd.

• Mangalore Refinery Ltd.

• Tejas Networks Ltd.

• Zee Ent Ltd.

• Hindustan Zinc Ltd.

Saturday, 19 October, 2024

Derivative Segment

• HDFC Bank Ltd

• Tech Mahindra Ltd

• Dalmia Bharat Ltd

• Kotak Bank Ltd

• Indiamart Ltd

• MCX India Ltd

• RBL Bank Ltd

Cash Segment

• Punjab & Sind Bank

• UCO Bank

Monday, 21 October, 2024

Derivative Segment

• UltraTech Cem Ltd

• CUB Ltd

Cash Segment

• Jana SFB Ltd.

• Maharashtra Scooters Ltd.

• 360 One Ltd.

• HFCL Ltd.

• Supreme Petro Ltd.

• Union Bank Ltd

• CG Power Ltd.

• Route Mobile Ltd.

Tuesday, 22 October, 2024

Derivative Segment

• Bajaj Finance Ltd

• Coforge Ltd

• M&M Fin Serv Ltd

• Max Fin Ltd

• Persistent Systems Ltd

• ICICI Prudential Ltd

• Indus Towers Ltd

• Can Fin Homes Ltd

• SRF Ltd

Cash Segment

• Zensar Tech Ltd.

• GMDC Ltd.

• Jubilant Ingrevia Ltd.

• Amber Enterprises Ltd.

• Varun Beverages Ltd.

• Century Textiles Ltd.

• Kajaria Ceramics Ltd.

• One97 Comm Ltd.

• Shoppers Stop Ltd.

• Supreme Industries Ltd.

Wednesday, 23 October, 2024

Derivative Segment

• Asian Paints Ltd

• Bajaj Finserv Ltd

• Navin Fluorine Ltd

• Pidilite Ind Ltd

• Syngene Int Ltd

• Godrej Properties Ltd

• United Spirits Ltd

• AU Small Ltd

• Hindustan Unilever Ltd

• Dr. Lal Labs Ltd.

• Birlasoft Ltd

• Piramal Ent Ltd

• SBI Life Ltd

• TVS Motor Ltd

Cash Segment

• Bajaj Holdings Ltd.

• KPIT Tech Ltd.

• Nuvoco Vistas Ltd.

• Schaeffler Ltd.

• Sona BLW Ltd.

• Birla Corp Ltd.

• Piramal Pharma Ltd.

• TVS Holdings Ltd.

Thursday, 24 October, 2024

Derivative Segment

• United Breweries Ltd

• ITC Ltd

• Petronet LNG Ltd

• ACC Ltd

• Godrej Consu Ltd

Cash Segment

• Bikaji Foods Ltd.

• Castrol India Ltd.

• CIE Automotive Ltd.

• CSB Bank Ltd.

• Cyient Ltd.

• Nippon AMC Ltd.

• Ujjivan Small Ltd.

• Westlife Food Ltd

• Patanjali Foods Ltd.

• Adani Wilmar Ltd.

• Radico Khaitan Ltd.

Friday, 25 October, 2024

Derivative Segment

• Atul Ltd

• Chola Inv & Fin Ltd

• JSW Steel Ltd

• Bharat Electronics Ltd

• HPCL Ltd

• Torrent Pharma Ltd

• Bank of Baroda

• Coal India Ltd

Cash Segment

• JM Financial Ltd.

• Mahindra Holidays Ltd.

• Mahindra Lifespace Ltd.

• Poonawalla Fincorp Ltd.

• UTI AMC Ltd.

• J&K Bank Ltd.

• India Grid Trust

• CreditAccess Ltd.

• Intellect Design Ltd.

Saturday, 26 October, 2024

Derivative Segment

• ICICI Bank Ltd

• IDFC First Ltd

• JK Cement Ltd

Cash Segment

• Yes Bank Ltd.

Monday, 28 October, 2024

Derivative Segment

• Sun Pharma Ltd

• IOC Ltd

• Ambuja Cements Ltd

• BHEL Ltd

• Bharti Airtel Ltd

• LIC Housing Ltd

Cash Segment

• CAMS Ltd.

• Gillette India Ltd.

• Lakshmi Machine Ltd.

• Firstsource Solutions Ltd.

• Sumitomo Chemical Ltd.

• Tamilnad Mercantile Ltd.

• Tata Technologies Ltd.

Tuesday, 29 October, 2024

Derivative Segment

• Cipla Ltd

• Marico Ltd

• Container Corp Ltd

• Maruti Suzuki Ltd

Cash Segment

• Honeywell Automation Ltd.

• Engineers India Ltd.

• Star Health Ltd.

• Five-Star Business Ltd.

• V-Guard Industries Ltd.

Wednesday, 30 October, 2024

Derivative Segment

• Biocon Ltd

• Dabur Ltd

• Tata Power Ltd

• Aditya Birla Capital Ltd

• Larsen & Toubro Ltd

Cash Segment

• P&G H&H Ltd.

• TTK Prestige Ltd.

• Grindwell Norton Ltd.

Monday, 4 November, 2024

Derivative Segment

• ABB India Ltd

• Exide Industries Ltd

Cash Segment

• Amara Raja Ltd.

• P&G Health Ltd.

Tuesday, 5 November, 2024

Derivative Segment

• Berger Paints Ltd

• Dr. Reddy’s Lab Ltd

• Titan Ltd

Cash Segment

• Alkyl Amines Ltd.

• PB Fintech Ltd.

• Timken Ltd.

Wednesday, 6 November, 2024

Derivative Segment

• Gujarat Gas Ltd

• Apollo Hospitals Ltd

Cash Segment

• Blue Star Ltd.

• Endurance Tech Ltd.

• Kansai Nerolac Ltd.

Thursday, 7 November, 2024

Derivative Segment

• Cummins Ltd

• Escorts Kubota Ltd

• Page Ind Ltd

• Trent Ltd

Cash Segment

• Indigo Paints Ltd.

• Akzo Nobel Ltd.

• NHPC Ltd.

• RHI Magnesita Ltd.

• Emami Ltd.

Friday, 8 November, 2024

Derivative Segment

• Tata Motors Ltd

Cash Segment

• Esab Ltd.

• Latent View Ltd.

• Chola Fin Holdings Ltd.

• Motherson Wiring Ltd.

Saturday, 9 November, 2024

Derivative Segment

Nil

Cash Segment

• HBL Power Ltd.

Monday, 11 November, 2024

Derivative Segment

• Hindalco Industries Ltd

• Shree Cement Ltd

Cash Segment

Nil

Tuesday, 12 November, 2024

Derivative Segment

• Bosch Ltd

• Samvardhana Motherson Ltd

Cash Segment

• BASF India Ltd.

• Suven Pharma Ltd.

• Medplus Health Ltd.

Wednesday, 13 November, 2024

Derivative Segment

Nil

Cash Segment

• HEG Ltd.

• Kalyan Jewellers Ltd.

Thursday, 14 November, 2024

Derivative Segment

• Grasim Industries Ltd

Cash Segment

Nil

Company: Heubach Colorants India Limited (HEUBACHIND)

Type of Offer: Acquisition

Acquirer: Sudarshan Europe B.V. (Sudarshan Chemical Industries Limited)

Issue of Public Announcement: 17-Oct-2024

Offer price Rs: 578.11

CMP: Rs 550.85

(%Prem.)/Disc.: 4.70%

Offer Size : Rs 346.90 Cr

Proposed Acq. No.of shares: 0.60 cr

Proposed Acq. : 26%

Schedule of Activity: Not Yet Announced

Last date for Cum-Dividend Today

Anand Rathi Wealth Ltd

Dividend Per Share Rs. 7

Previous day Closing Price – Rs. 4,131

Tata Consultancy Services Ltd

Dividend Per Share Rs.10

Previous day Closing Price – Rs. 4,095

Issue Period:- 16- October-24 to 17- October -24

For Non- Retail ( QIB +HNI ) open & close date - 16- October-24

For Retail open & close date – 17- October -24 (Today)

Floor Price: INR “1540.00”

Closing Price on date of announcement: Rs. 1672.00\u0009

Current Market Price: 1588.50

Base Issue size: 0.66 Crs Shares – 2.50% of O/S Capital

Green Shoe Issue size: 0.66 Crs Shares – 2.50% of O/S Capital

Total Issue Size: 1.32 Crs equity shares (INR 2026.00 Cr) – 5.00% of O/s Capital

Non-Retail Portion (QIB + HNI) - 90% of Offer Size - Bidding on 16- October-24

Total Issue Size: 1.18 Crs shares (INR 1823.15 Cr)

Non Retail Clearing Price: Rs. 1542.50

Retail Portion - 10% of Offer Size - Bidding on 17- October -24 (Today)

Total Issue Size: 0.13 Crs equity shares (INR 202.57 Cr)

Note : Upto Rs 2 lacs bids are classified as Retail and above non retail ( QIB + HNI )

Note : Based on clearing price discovered for Non retail bids, the minimum price to bid for Retail portion will be Rs.1542.50

1 BANDHANBNK

2 CHAMBLFERT

3 GNFC

4 GRANULES 

5 HINDCOPPER

6\ IDFCFIRSTB

7 IEX

8 LTF

9 MANAPPURAM

10 NATIONALUM

11 PNB

12 RBLBANK

13 SAIL

14 TATACHEM

NIFTY 50: SPOT SUPPORT AT 24900 BELOW THIS 24800, RESISTANCE AT 25100 ABOVE THIS 25200

BANKNIFTY: SPOT SUPPORT AT 51500 BELOW THIS 51300, RESISTANCE AT 52000 ABOVE THIS 52300

NIFTY FIN SERVICE: SPOT SUPPORT AT 23800 BELOW THIS 23700, RESISTANCE AT 23900 ABOVE THIS 24000\u0009

BSE SENSEX: SPOT SUPPORT AT 81300 BELOW THIS 81000, RESISTANCE AT 81800 ABOVE THIS 82000

Crude oil futures traded higher on Thursday morning as an industry report showed a decrease in the US inventories for the week ending October 11. At 9.26 am on Thursday, December Brent oil futures were at $74.44, up by 0.30 per cent, and November crude oil futures on WTI (West Texas Intermediate) were at $70.62, up by 0.33 per cent. October crude oil futures were trading at ₹5935 on Multi Commodity Exchange (MCX) during the initial hour of trading on Thursday against the previous close of ₹5923, up by 0.20 per cent, and November futures were trading at ₹5914 against the previous close of ₹5902, up by 0.20 per cent.

Indian benchmark indices opened marginally higher on Thursday, with the Sensex starting at 81,758.07 and the Nifty50 trading at 25,027.40, 0.22 per cent above Wednesday’s closing of 24,971.30.

Bajaj Auto led the decline, falling 7.53 per cent despite better-than-expected Q2 results, followed by Hero MotoCorp dropping 3.75 per cent. Other auto majors M&M and Eicher Motors also declined by 2.08 per cent and 1.87 per cent respectively.

Prabhudas Lilladher has upped its 12-month Nifty target to 27,867 from 26,820 earlier (base case), implying an upside of 11.6 per cent from the current levels. Bull and bear case targets are 29,260 and 25,080, respectively. Nifty is currently trading at 19.4x, a 1.6 per cent premium over its 15-year average PE of 19.1x. 

Capital Goods, Infrastructure, Ports, EMS, Hospitals, Tourism, New Energy, E-commerce and Telecom are emerging sectors to watch out, provided they are available at the right valuations. The brokerage believes that the market and Street estimates are already priced in a strong demand rebound during the upcoming festival and wedding seasons and any disappointment in demand during this period could lead to further downward revisions in EPS estimates.

Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd*

Gold advanced towards record highs as gains in non-yielding bullion were bolstered by weakness in U.S. bond yields and expected rate cuts by major central banks, with additional safe-haven support from ongoing geopolitical conflicts. U.S. Treasury yields fell to their lowest in over a week, however dollar index stayed firm above 103. Traders currently see about a 94% chance of a 25-basis-point U.S. rate cut in November, according to the CME FedWatch tool. The European Central Bank looks set to deliver another rate cut on Thursday, while a drop in British inflation indicated a rate cut next month by the Bank of England. On other hand, continuous from Middle East and request from US to withhold weapons is increasing volatility in safe haven assets. After lower than expected NY empire State manufacturing index, focus today will be on US Retail sales, Industrial production and weekly jobless claims data.

SOURCESSAY | Tata Sons board is expected to meet soon to discuss the induction of Noel Tata, who is set to be appointed to the board.

The initial public offering of Hyundai Motor India enters its final day. On Day 1, the mega IPO was subscribed 0.42 times or 42 per cent. 

Hyundai Motor India’s mega IPO, part of Hyundai Motor Group, is entirely an offer for sale by up to 14.22 crore shares by Hyundai Motor Company. The issue size of ₹27,870 crore (at the upper end) is the largest ever in the Indian primary market. The price band for the initial share sale has been fixed at ₹1,865-1,960, with a face value of ₹10. Minimum bids can be made for seven shares and multiples of 7 thereafter. 

SUPRAJIT ENGINEERING: SUPRAJIT USA INC ESTABLISHES UNIT NAMED SUPRAJIT (JIAXING) AUTOMOTIVE SYSTEMS IN CHINA TO MEET OPERATIONAL REQUIREMENTS

Jefferies on KEI Ind: Maintain Buy on Company, raise target price at Rs 5720/Sh (Positive) 

Nuvama on KEI Ind: Maintain Buy on Company, raise target price at Rs 5250/Sh (Positive) 

HSBC on HDFC Life: Maintain Buy on Company, raise target price at Rs 800/Sh (Positive) 

Nomura on Bajaj Auto: Maintain Buy on Company, raise target price at Rs 13400/Sh (Positive) 

Nuvama on Bajaj Auto: Maintain Buy on Company, target price at Rs 13200/Sh (Positive) 

IIFL on Indegene: Initiate Add on Company, target price at Rs 750/Sh (Positive) 

DAM Cap on Reliance Ind: Initiate Buy on Company, target price at Rs 3042/Sh (Positive) 

Macquarie on Sequent Scientific: Interacted with Sequent Scientific and Viyash management to understand the strategic outlook following the Sequent-Viyash merger. (Positive) 

Jefferies on Gold Loan Financiers: Gold financiers to benefit from gold price tailwinds and the current rate cycle. (Positive) 

Citi on Gas distributers: Media reports and discussions indicate the government has cut domestic APM gas allocation to the CGD industry by 4 mmscmd. (Neutral) 

MS on LTTS: Maintain Underweight on Company, target price at Rs 4730/Sh (Neutral) 

Investec on LTTS: Maintain Sell on Company, raise target price at Rs 4980/Sh (Neutral) 

Citi on LTTS: Maintain Sell on Company, cut target price at Rs 4860/Sh (Neutral) 

Macquarie on Zydus Life: Maintain Outperform on Company, target price at Rs 1365/Sh (Neutral) 

Macquarie on Bajaj Auto: Maintain Neutral on Company, target price at Rs 11072/Sh (Neutral) 

Nomura on LTTS: Maintain Reduce on Company, cut target price at Rs 4840/Sh (Negative) 

Citi on Bajaj Auto: Maintain Sell on Company, target price at Rs 7800/Sh (Negative) 

UBS on SRF: Downgrade to Sell on Company, target price at Rs 2100/Sh (Negative)

RVNL: Company emerges as lowest bidder from Maharashtra metro rail corporation, Company emerges as lowest bidder for project worth Rs 2.7 billion (Positive)

Oriana Power: Company bags contract for 75MW (AC) solar power plant worth ₹375 cr (Positive)

Pondy Oxides: Net Profit at Rs 17.4 cr vs Net Profit Rs 8.2 cr (YoY) , Revenue at Rs 580 vs Rs 400 cr. (YoY) (Positive)

NBCC: Company received order worth Rs 252.5 million (Positive)

Ultratech Cement: Commissioning of an additional 1.2 mtpa grinding capacity at Arakkonam unit, total cement capacity has reached 156.06 MTPA (Positive)

RailTel: Company secures Rs. 79.84 Cr order from MHADA. (Positive)

Reliance Ind: Jio Fin: BlackRock, Jio Fin in talks for 50-50 private credit venture. Fixed October 28 as the record date for the purpose of determining the equity shareholders of the company (Positive)

IRCON: Company signs MoU with Patel Engineering for collaboration & co-operation in infrastructure projects in India & overseas (Positive)

MPhasis: Net Profit at Rs 423.0 cr vs poll of Rs 416.0 cr, Rupee Revenue at Rs 3536 vs poll of Rs 3516 cr. (YoY) (Positive)

HFCL: Company expects 70% of its revenue in fibre optic segment. (Positive)

Larsen and Toubro: Company launches first multi-purpose vessel for Indian Navy. (Positive)

GMR Airports: September passenger traffic up 9% YoY & down 4% MoM at 1.02 cr. (Neutral)

ICICI Bank: Penalized ₹2,11,000 by RBI for delays in reporting stock options to non-resident employees (2015-2018) (Neutral)

Bajaj Auto: Net Profit at Rs 2005 cr vs Net Profit Rs 1836 cr, Revenue at Rs 13130 vs Rs 10880 cr. (YoY) Company to invest $10 million in arm Bajaj Brazil in a phased manner (Neutral)

Crisil: Net Profit at Rs 171.6 cr vs Net Profit Rs 152 cr, Revenue at Rs 811.8 vs Rs 10880 cr. (YoY) (Neutral)

Cochin Shipyard: India government to exercise oversubscription option in Cochin shipyard stake sale, India GOVT to sell additionally up to 2.5% stake in Cochin shipyard under oversubscription option (Neutral)

Bikaji Foods: Company unit to invest Rs 1.31 billion in Hazelnut factory food products (Neutral)

Kolte-Patil: Collections up 16% YoY at Rs 550 cr, Sales value up 22% YoY at Rs 770 Cr (Neutral)

Pavna Industries: Company approved further raising of funds up to Rs 4.11 billion (Neutral)

JK Tyre: Company received a CARE A1+ short-term rating for its proposed Commercial Paper issuance. (Neutral)

Reliance Ind: Issue of bonus share passed with majority in e-voting on October 15, 2024 (Neutral)

HDFC Bank: Inaugurates its first branch in Singapore to expand financial services. (Neutral)

EIH: Company approves investing up to £69 million in unit EIH London Investments. (Neutral)

Oberoi Realty: Company said its board’s operations committee has approved the issuance of NCDs totalling up to ₹1,500 crore on a private placement basis. (Neutral)

L&T Technology Services: Net Profit at Rs 320 cr vs Net Profit Rs 314 cr, Revenue at Rs 2573 vs Rs 2460 cr. (YoY) (Negative)

Domestic markets are likely to to open on flat note on Thursday amid mixed global cues. Continuous selling by foreign portfolio investor to keep market under pressure though counter buying by domestic investors to provide support, said analysts. 

Amidst this, the focus has now shifted to financial performance of India Inc.

PRAJ INDUSTRIES: CO LEADS THE WAY IN BIOPLASTICS WITH POLYLACTIC ACID - UNVEILS INDIA’S FIRST DEMONSTRATION FACILITY FOR BIOPOLYMERS IN PUNE

IRCON INTERNATIONAL: CO SIGNED MEMORANDUM OF UNDERSTANDING WITH PATEL ENGINEERING || MOU TO EXPLORE VARIOUS INFRASTRUCTURE PROJECTS IN INDIA,OVERSEAS

8:30 AM MphasiS

(Press Release )

Dial: +91 22 6280 1165

10:30 AM Moongipa Secu

(Results, Investor/Analyst Presentation, Press Release )

Dial: +91 22 6280 1149 

12:00 PM Tips Industries

Dial: +91 22 6280 1260

3:30 PM Central Bank

3:30 PM South IndBk

Dial: +91 22 6280 1144

4:00 PM Pondy Oxides

4:15 PM Havells India

Dial: +91 22 62801384

5:00 PM LTIMindtree

Dial: +91 22 6280 1157 

6:00 PM Tata Comm

6:00 PM Infosys

Dial: +91 22 6280 1168

6:30 PM Tata Chemicals

Dial: +91 22 6280 1141 

6:30 PM Axis Bank

Dial: +91 22 6280 1253

7:00 PM Wipro

(Press Release )

Dial: +91 22 6280 1120

L and T Technolog : (replay)

DB Corp : (replay)

KEI Industries : (replay)

Rallis : (replay)

HDFC AMC : (replay)

Newgen Software Technolog : (replay)

Bank of Mah : (replay)

PVR : (replay)

HDFC life Insur : (replay)

Gopal Snacks : (replay)

Results today …

Recent interviews …

AETHER, ELECON, GANESHHOUC, HINDZINC, ICICIGI, JINDALSAW, JIOFIN, KESORAMIND, LTF, MASTEK, MRPL, OBEROIRLTY, RPEL, TATACONSUM, TEJASNET, ZEEL 

HINDZINC

* Revenue expected at Rs 7959 crore versus Rs 6791 crore

* EBITDA expected to be seen at Rs 4001 crore versus Rs 3139 crore

* EBITDA margin expected to be seen at 50.27% versus 46.22% 

* Net profit expected to be seen at Rs 2234 crore versus Rs 1729 crore

ICICIGI 

* GPW expected at Rs 7338 crore versus Rs 6272 crore

* EBIT expected to be seen at Rs 721 crore versus Rs 786 crore

* EBIT margin expected to be seen at 12.93% versus 15.56% 

* Net profit expected to be seen at Rs 655 crore versus Rs 577 crore

LTF 

* NII expected at Rs 2217 crore versus Rs 1843 crore

* EBIT expected to be seen at Rs 1488 crore versus Rs 2563 crore

* EBIT margin expected to be seen at 58.74% versus 79.76% 

* Net profit expected to be seen at Rs 696 crore versus Rs 595 crore

MASTEK 

* Revenue expected at Rs 849 crore versus Rs 812 crore

* EBIT expected to be seen at Rs 112 crore versus Rs 103 crore

* EBIT margin expected to be seen at 13.19% versus 12.68% 

* Net profit expected to be seen at Rs 81 crore versus Rs 71 crore

OBEROIRLTY

* Revenue expected at Rs 1233 crore versus Rs 1217 crore

* EBITDA expected to be seen at Rs 696 crore versus Rs 636 crore

* EBITDA margin expected to be seen at 56.44% versus 52.25% 

* Net profit expected to be seen at Rs 498 crore versus Rs 456 crore

AXISBANK, CEATLTD, CENTRALBK, HAVELLS, INFY, IOB, JSL, LTIM, NESTLEIND, POLYCAB, QUICKHEAL, TANLA, TATACHEM, TATACOMM, WIPRO

AXISBANK 

* NII expected at Rs 13615 crore versus Rs 12314 crore

* EBIT expected to be seen at Rs 10227 crore versus Rs 8631 crore

* EBIT margin expected to be seen at 75.03% versus 49.75% 

* Net profit expected to be seen at Rs 6478 crore versus Rs 5863 crore

CEATLTD

* Revenue expected at Rs 3249 crore versus Rs 3053 crore

* EBITDA expected to be seen at Rs 357 crore versus Rs 456 crore

* EBITDA margin expected to be seen at 10.98% versus 14.93% 

* Net profit expected to be seen at Rs 122 crore versus Rs 208 crore

HAVELLS

* Revenue expected at Rs 4411 crore versus Rs 3900 crore

* EBITDA expected to be seen at Rs 467 crore versus Rs 373 crore

* EBITDA margin expected to be seen at 10.58% versus 9.56% 

* Net profit expected to be seen at Rs 324 crore versus Rs 249 crore

INFY 

* Revenue expected at Rs 40837 crore versus Rs 39315 crore

* EBIT expected to be seen at Rs 8690 crore versus Rs 8288 crore

* EBIT margin expected to be seen at 21.27% versus 21.08% 

* Net profit expected to be seen at Rs 6832 crore versus Rs 6368 crore

LTIM 

* Revenue expected at Rs 9442 crore versus Rs 9142 crore

* EBIT expected to be seen at Rs 1472 crore versus Rs 1370 crore

* EBIT margin expected to be seen at 15.58% versus 14.95% 

* Net profit expected to be seen at Rs 1221 crore versus Rs 1135 crore

POLYCAB

* Revenue expected at Rs 4894 crore versus Rs 4217 crore

* EBITDA expected to be seen at Rs 639 crore versus Rs 608 crore

* EBITDA margin expected to be seen at 13.05% versus 14.41% 

* Net profit expected to be seen at Rs 443 crore versus Rs 425 crore

TATACHEM

* Revenue expected at Rs 4029 crore versus Rs 3998 crore

* EBITDA expected to be seen at Rs 639 crore versus Rs 819 crore

* EBITDA margin expected to be seen at 15.86% versus 20.48% 

* Net profit expected to be seen at Rs 224 crore versus Rs 326 crore

TATACOMM

* Revenue expected at Rs 5764 crore versus Rs 4872 crore

* EBITDA expected to be seen at Rs 1135 crore versus Rs 1015 crore

* EBITDA margin expected to be seen at 19.69% versus 20.83% 

* Net profit expected to be seen at Rs 265 crore versus Rs 220 crore

WIPRO 

* Revenue expected at Rs 22249 crore versus Rs 21963 crore

* EBIT expected to be seen at Rs 4314 crore versus Rs 4335 crore

* EBIT margin expected to be seen at 19.38% versus 19.73% 

* Net profit expected to be seen at Rs 3011 crore versus Rs 3003 crore

TATACONSUM

* Revenue expected at Rs 4347 crore versus Rs 3733 crore

* EBITDA expected to be seen at Rs 632 crore versus Rs 537 crore

* EBITDA margin expected to be seen at 14.53% versus 14.38% 

* Net profit expected to be seen at Rs 339 crore versus Rs 352 crore

ZEEL

* Revenue expected at Rs 2098 crore versus Rs 2437 crore

* EBITDA expected to be seen at Rs 275 crore versus Rs 332 crore

* EBITDA margin expected to be seen at 13.10% versus 13.62% 

* Net profit expected to be seen at Rs 118 crore versus Rs 242 crore

Provisional Cash Rs. In Crs.

FII/FPI: NET SELL: -3435.94

(14465.64 - 17901.58) 

DII: NET BUY: +2256.29

(13432.45 - 11176.16)

Buzzing stocks: Infosys, Wipro, Axis Bank, Nestle India, LTIMindtree, Tata Chemicals, Tata Communications, Ceat, Havells India, Jindal Stainless, Central Bank of India, Indian Overseas Bank, Dhanlaxmi Bank, Polycab India, Reliance Industries, RVNL, Welspun Corp, Oberoi Realty, Cochin Shipyard, Titagarh Rail, Bikini Foods

14:30 EURO Final CPI y/y (Expected: 1.8% versus Previous: 1.8%)

17:45 EURO ECB Monetary Policy (Expected: 3.40% versus Previous: 3.65%)

18:00 U.S. Retail Sales m/m (Expected: 0.3% versus Previous: 0.1%)

18:00 U.S. Unemployment Claims (Expected: 241K versus Previous: 258K)

18.15 EURO ECB Press Conference

18:45 U.S. Industrial Production m/m (Expected: -0.1% versus Previous: 0.8%)

20:30 U.S. FOMC Member Goolsbee Speaks

Taiwan Semiconductor Manufacturing Company Ltd. (Pre market) (Sector- Technology)

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

Elevance Health, Inc. (Pre market) (Sector- Healthcare)

Marsh & McLennan Companies, Inc. (Pre market) (Sector- Financial)

Blackstone Inc. (Pre market) (Sector- Financial)

Truist Financial Corporation (Pre market) (Sector- Financial)

The Travelers Companies, Inc. (Pre market) (Sector- Financial)

M&T Bank Corporation (Pre market) (Sector- Financial)

Nokia Corporation (Pre market) (Sector- Technology)

KeyCorp (Pre market) (Sector- Financial)

Snap-On Incorporated (Pre market) (Sector- Capital Goods)

Intuitive Surgical, Inc. (Post market) (Sector- Healthcare)

Crown Holdings, Inc. (Post market) (Sector- Packaging)

Western Alliance Bancorporation (Post market) (Sector- Financial)

Watsco, Inc. (TENT) (Sector- Capital Goods)

Pool Corporation (TENT) (Sector- Miscellaneous)

Freeport-McMoran, Inc. (TENT) (Sector- Metal)

Here’s an interesting stock idea: The stock idea that we have for you today Orient Cement 

The stock has made a bullish breakout on Wednesday by surging over 9 per cent. This confirms an inverted head and shoulder bullish pattern on the chart. That leaves the door open for the share price to go up in the coming days.

The stock of Northern Arc Capital Limited (NACL) listed recently. Post listing at a 33 per cent premium to the issue price of ₹263 per share, the stock has corrected since and now trades at ₹274.7. This is despite the significant demand for the IPO with the issue getting subscribed 117 times.

Zinc prices have been oscillating in a range for more than two weeks now. The Zinc Futures contract on the Multi Commodity Exchange (MCX) has been trading in a range of ₹274-₹292 per kg for more than two weeks now. Within this range, the price has been coming down now. The contract is currently trading at ₹283 per kg.

Day Trading Guide gives you the key intraday supports and resistances to watch out for on the Nifty Futures and other widely traded stocks such as Reliance Industries, Infosys, HDFC Bank, TCS, SBI. Based on the trend, it also gives intraday trade recommendations with specific entry as well as stop-loss levels. The mentioned resistances and supports will be the exit levels. Do note that the recommendations are based on Technical Analysis and there is a risk of loss in trading.

The upmove in the stock of Orient Cement is gaining momentum. The strong 9 per cent surge on Wednesday has taken the share price well above a key resistance level of ₹310. This breakout also confirms an inverted head and shoulder bullish pattern on the chart. The region between ₹312 and ₹310 will act as a strong support.