Share Market Highlights September 26, 2024: Sensex closes 666 pts higher, Nifty ends above 26,200

The rupee depreciated by 6 paise to settle at 83.64 (provisional) against the US dollar on Thursday, dragged by sustained foreign fund outflows.

However, a decline in global crude prices and a firm trend in domestic equities restricted the rupee losses, forex traders said.

At the interbank foreign exchange, the local unit opened slightly weak at 83.66 against the American currency. During the session, it dropped 13 paise to touch 83.71.

Copper futures on the Multi Commodity Exchange (MCX) broke out of a resistance early this week, turning the near-term outlook positive.

The September contract broke out of the resistance at ₹816 on Tuesday and has extended the rally. On Wednesday, it had closed at ₹832.

Top gainers:

Maruti (4.48%), Grasim (3.19%), Tata Motors (2.83%), Shriram Finance (2.78%), Bajaj Finserv (2.59%) 

Top losers: 

Cipla (-1.47%), ONGC (-1.24%), L&T (-0.89%), Hero Motocorp (-0.80%), NTPC (-0.60%)

NTPC Green Energy Limited (NGEL), a wholly-owned subsidiary of NTPC Ltd, entered into a Joint Venture Agreement (JVA) with Mahatma Phule Renewable Energy and Infrastructure Technology Ltd. (MAHAPREIT).

NTPC shares traded flat on the NSE at ₹433.40

Hemisphere Properties India has received tentative approval from Municipal Authorities, Pune Maharashtra, for a layout including the FSI of the amenity plots for Bhopkhel land in Pune. 

Stock trades at ₹192.42 on the NSE, lower by 1.13%.

Top gainers:

Maruti (4.68%), M&M (3.23%), Grasim (3.17%), Tata Motors (2.98%), Bajaj Finserv (2.95%)

Top losers:

Cipla (-1.47%), L&T (-0.76%), ONGC (-0.59%), Hero Motocorp (-0.48%), Divi’s Lab (-0.36%)

Stocks advanced on BSE at 3 pm on September 26, 2024, were 1,668 against 2,292 stocks that declined, and 102 remained unchanged. Total stocks traded were 4,062. The number of stocks that recorded a 52-week high was 251, and those that hit a 52-week low was 45. 

A total of 313 stocks traded in the upper circuit, and 254 in the lower circuit. 

Seamec Ltd has entered into a Bimco Charter Party with Supreme Hydro Engineering Pvt Ltd for Charter Hire of Vessel “SEAMEC III” for working in Mumbai High Offshore Fields for carrying out jobs related to underwater inspection of FPSO.

Shares trade flat on the NSE at ₹1,448.

BSE Sensex soared 540.22 pts or 0.63% to 85,710.09 as at 2.47 pm.

Pasupati Acrylon informed that the manufacturing operations at Acrylic Fiber Plant of the Company have been resumed.

Shares trade at ₹52.50 on the BSE, lower by 2.43%.

Uno Minda shares trade flat on the NSE at ₹1,149.55. Company’s subsidiary Minda Onkyo India Private Ltd has entered into a technical licence agreement (TLA) with Hyundai Mobis Co Ltd, Korea.

Datamatics Global Services has received a Demand Notice under Section 156 of the Income-Tax Act, 1961 from Income Tax Department demanding a sum of ₹60,91,966 and also ₹2,57,29,200 which was earlier refunded by the Income Tax Department to the Company. Hence total demand payable stands at ₹3,18,21,170/- pertaining to assessment year 2021-22.

Datamatics Global stock traded at ₹626.25 on the NSE, down by 0.92%.

ITCONS E-Solutions has awarded the new bid from Indian Navy, Department of Military Affairs, Ministry of Defence to provide 08 Highly skilled Data Entry Operator on a contractual basis for a period of 1 year. The aggregate size of the contact is ₹33.55 lakh.

Shares trade flat on the BSE at ₹737.

Power Mech Projects has received an order worth of ₹ 226.66 crore

Shares trade flat on the BSE at ₹6,619.35

Ceinsys Tech Limited has received a letter of acceptance from CIDCO for selection of service provider for implementation of Integrated GIS Enterprises amounting to ₹29.20 crore.

Ceinsys Tech stock trades at ₹729 on the BSE, down by 1.82%

Marine Electricals (India) Ltd has received an order for two ships amounting to 15,59,175.68 Euro (approximately ₹14.54 crore) from Ministry of Defence, Sri Lanka for Procurement of Supply, Installation Testing & Commissioning of Marine Diesel Engines And Gear Boxes Associated Accessories For Sri Lanka Navy Ships. The Delivery shall be over a period of 8 Months.

Marine Electricals stock trades at ₹222.50 on the NSE, lower by 1.66%.

Reliance Power informed the exchanges that NCLT Mumbai has approved allowing the withdrawal of the application under Section 7 of the IBC, 2016, filed by CFM Asset Reconstruction Private Limited against the company.

RPower shares continue to trade at its upper circuit on the NSE at ₹44.15. 

Track Reliance Power share price movements live here

Top gainers: Maruti (3.75%), Tata Motors (2.22%), Hindalco (1.67%), SBI Life (1.51%), HDFC Life (1.50%)

Top losers: ONGC (-2.18%), Hero Motocorp (-1.53%), Divi’s Lab (-1.47%), Cipla (-0.97%), BPCL (-0.84%)

Of 3,943 stocks traded on the BSE at 12 noon on September 26, 2024, 1,646 advanced against 2,164 stocks that declined, and 133 remained unchanged. While 219 stocks recorded a 52-week high, 33 hit a 52-week low. A total of 250 stocks traded in the upper circuit, and 221 in the lower circuit.

In light of SEBI’s true to label circular, CDSL, leading depository, has implemented uniform tariff of Rs 3.50 per debit transaction. It will provide a discount of Rs 0.25 per debit transactions done by female demat account holders (as sole holder or first holder).

Also a discount of Rs 0.25 per debit transaction in Mutual Fund and Bond ISINs.

The revised tariff will be effective from October 1, it said. 

Linc Ltd board has approved a joint venture agreement between the company and Silka Kirtasiye Imalat Sanayi Ve Ticaret Ltd Sirketi to carry out manufacturing of writing instruments in Turkiye and its distribution and sale in Turkiye and nearby countries.

Shares surged 4.18% on the NSE, trading at ₹755.30.

KPI Green Energy Ltd received a Letter of Award for the development of a 66.20 MW hybrid power project under the Captive Power Producer (CPP) segment of the company. The stock declined 3.12% on the NSE, trading at ₹870.

Krsnaa Diagnostics stock rose 1.28% on the NSE, trading at ₹848.90. Company’s board approved the investment in the Equity Share Capital of Apulki Healthcare Private Limited

JMJ Fintech has received in-principle approval from the exchange for the issue of 4,00,000 Equity shares of ₹10/- each at a price not less than ₹25/- to promoters and non-promoters on preferential basis.

EaseMyTrip.com enters into an exclusive partnership with PhonePe for launching its Hotels segment on the platform

Easy Trip Planners stock jumps 6.44% to trade at ₹36.53.

Godrej Properties board to consider fund raising at its meeting on October 1.

Shares trade at ₹3,357.35 on the NSE, up 0.90%.

Avantel Ltd has received a purchase order worth ₹3.45 crore from Bharat Electronics Limited. Avantel and BEL shares trade flat on the NSE at ₹176.98 and ₹290.10, respectively.

Bank Nifty index has been hovering around 54,000 since the beginning of this week. The index has been oscillating between 53,750 and 54,250 all through this week. Within this range, the Bank Nifty index is currently trading at 54,154, up 0.1 per cent. The advances/declines ratio is at 7:5. This is positive. Read more

Nifty 50 is managing to sustain above 26,000. The index is currently trading at 26,064, up 0.24 per cent. The advances/declines ratio is at 28:22. The bias here is positive. A strong follow-through rise from here can take the index up during the day. Read more

Hinduja Global Solutions has clarified that it has not received any written communication from the Income Tax authorities with regard to a news item captioned Hinduja Group arm HGS charged with Rs 2,500 cr tax evasion.

Shares trade at ₹832.45 on the NSE, up 2%.

Indian equity markets opened higher on Thursday, with the Nifty 50 index touching a new record high, buoyed by positive global cues and ongoing optimism about China’s stimulus measures. The benchmark Sensex and Nifty indices started the day on a positive note, following trends in the GIFT Nifty that indicated gains for the broader index. 

As of 9:30 am, the Sensex was trading at 85,167.56, while the Nifty 50 opened at 26,005.40, surpassing its previous record close. The market’s upward momentum was supported by a strong performance in Asian markets and gains in US stock futures. 

Deepak Jasani, Head of Retail Research at HDFC Securities, commented on the market situation, saying, “Asian equities mostly rallied Thursday as fresh signs of vigor in technology stocks spread across Asia. Nifty 50 recovered from the day’s low in the last leg of the trade to end September 25 at a record close for the fourth consecutive session.” 

HSBC on Alembic Pharma: Upgrade to Hold on Company, raise target price at Rs 1130/Sh (Positive)

Citi on Trent: Initiate Buy on Company, target price at Rs 9250/Sh (Positive)

Citi on Ultratech: Maintain Buy on Company, target price at Rs 13000/Sh (Positive)

Citi on GAIL: Maintain Buy on Company, target price at Rs 260/Sh (Positive)

Nomura on Crompton: Maintain Buy on Company, target price at Rs 498/Sh (Positive)

MOSL on GAIL: Maintain Buy on Company, target price at Rs 275/Sh (Positive)

MOSL on HPCL: Maintain Buy on Company, target price at Rs 400/Sh (Positive)

MOSL on Oil India: Maintain Buy on Company, target price at Rs 740/Sh (Positive)

HSBC on OLA Elec: Maintain Buy on Company, target price at Rs 140/Sh (Positive)

Macquarie on HDFC Bank: Maintain Outperform on Bank, target price at Rs 1900/Sh. (Positive)

Bernstein on PB Fintech: Maintain Outperform on Company, target price at Rs 1720/Sh (Positive)

HSBC on Tech Mahindra: Maintain Hold on Company, target price at Rs 1300/Sh (Neutral)

UBS on Hero Motocorp: Maintain Sell on Company, target price at Rs 3350/Sh (Neutral)

MS on Crompton: Maintain Equal weight on Company, target price at Rs 323/Sh (Neutral)

Track Reliance Power share movements live here

Reliance Infrastructure informed that State Bank of India has filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against KM Toll Road Pvt Ltd (KM Toll Road), a wholly-owned subsidiary of the company, before the NCLT Mumbai bench for a claim amount of ₹233.44 crore (including interest). 

Reliance Infrastructure stock trades flat on the NSE at ₹332.59.

Zaggle Prepaid Ocean Services board has approved the acquisition of 10,66,314 equity shares of face value of Rs 10 each at a price of Rs 300.80 per share (including a premium of Rs 290.80 per share) constituting 98.32% stake in Span Across IT Solutions Private Limited (Span Across), consequent to which Span Across will become a subsidiary of the company, following the completion of the procedural requirements.

The board has also approved the investment of Rs 15.6 crore for 26 per cent ownership capital of Mobileware Technologies Pvt Ltd on a post-issue and fully diluted basis

Zaggle stock surged 4.78% to ₹452.50.

The drug regulatory body of Mexico (Comisión Federal para la Protección contra Riesgos Sanitarios or Cofepris) has imposed a penalty of MXN 651, 420 (₹28 Lakh) on Dr Reddy’s Laboratories for deviation from prescribed guidelines for filing intimation of import of a reference standard for one of its APIs. 

Stock of Dr Reddy’s Laboratories trade flat on the NSE at ₹6,680.80

Tata Communications (UK) board has approved a proposal for reduction of TC UK’s issued share capital from $12,216,567.42 divided into 7,541,091 fully paid-up shares of $1.62 each to $1,686,562.56 divided into 1,041,088 fully paid-up shares of $1.62 each by cancelling 6,500,003 shares of $1.62 each, registered in the name of or otherwise held by Tata Communications (Netherlands) B.V., an indirect wholly-owned subsidiary of the company. Approval for the said capital reduction has also been received from UK Secretary of State in accordance with the UK National Security and Investment Act 2021. 

Tata Communications stock trades flat on the NSE at ₹2,118.65

Top gainers: Maruti (1.70%), SBI Life (1.40%), Nestle India (1.20%), LTIMindtree (1.17%), Wipro(1.13%)

Top losers: Hero Motocorp (-2.32%), ONGC (-1.36%), Power Grid (-0.85%), Hindalco (-0.78%), NTPC (-0.69%)

#NewYork: India signs international agreement to protect marine biodiversity on the high seas. External Affairs Minister 

@DrSJaishankar

signs Biodiversity Beyond National Jurisdiction (BBNJ) Agreement at #UnitedNations Headquarters . Mr Jaishankar says India is proud to join the BBNJ Agreement which is an important step towards ensuring that the oceans remain healthy and resilient.

BSE Sensex traded at 85,198.40, up 28.53 points or 0.03% as at 9.16 am, and Nifty 50 traded at 26,012.20, up 8.05 points or 0.03%.

Karnataka government is considering a new electric vehicle policy for the next five years. Also considering exempting all EVs and strong hybrid vehicles under 25 lakh from Road Tax

Aims to attract investments of 50,000 crore in clean mobility value chain by 2029,

Micron technology +14% in extended trading after issuing strong guidance for the current quarter

Micron projected first quarter revenues of $8.5 billion to $8.9 billion, above the $8.3 billion analysts anticipated.

Sanghvi Movers Limited.

Stock Split From Rs.2/- to Rs.1/-

Previous day Closing Price – Rs. 810.05

Ex - Stock Split 27 Sept 2024 (Tomorrow)

Last day trade for before split Today

PULSAR INTERNATIONAL LTD.

Bonus issue 1:10

Previous day Closing Price – Rs. 16.45

Ex Bonus 27 Sept 2024 (Tomorrow)

Last date Trade for Before Bonus Today

Ex-Dividend 27 Sept 2024 (Tomorrow)

Last date for Cum-Dividend Today

United Van Der Horst Ltd.

Dividend Per Share Rs.0.5

Previous day Closing Price – Rs. 124.25

West Leisure Resorts Ltd

Dividend Per Share Rs.0.1

Previous day Closing Price – Rs. 172.85

Citi On Trent

Initiate Buy Call, Target Rs 9,250

Transformation From Single-format To Multi-format Led To Higher Rev CAGR (36% In FY19- 24)

Multi-Category (Fashion & Lifestyle, Grocery, Personal Care) Player Led To A Higher Rev CAGR

Model For Trent Industry-leading Rev/EBITDA/PAT CAGRs Of 41%/44%/56% In FY24- 27

Leveraging On Supply Chain & Learnings From Westside & Zudio, Co Is Turning Around Star

Trent Can Meaningfully Scale Up Other Pilot Projects (MISBU, Samoh, MAS JV)

Include Trent In Pan-Asia High-Conviction Focus List

Investec on IEX

Initiate long FAST, TP Rs 215

STK plummeted 17% over past 2 days, mainly due to media reports about an upcoming submission of a simulation report by Grid India, post which CERC will decide on market coupling timelines

While we have no insights on timelines for notification, believe process of operational implementation will be lengthy & may not significantly benefit power ecosystem

Expect IEX to deliver healthy overall vol & EBIDTA growth in Q2

Expect additional clarity on coupling during Q2 results; however, operational implementation should take 2yrs, which ensures near-term earnings will be stable

Furthermore, val corrected to 35x P/E for FY26e

Bernstein on PB Fintech

Outperform Call, Target Rs 1,720

Co Talking About Backward Integration With Hospitals

Healthcare Biz Idea Is Not Clear For Now, But Seems To Be Aimed At Revamping Healthcare Mkt

Size Of The Planned Financial Commitment Is Not Clear

Plan Is To Fund This From The $650 m Of Cash On Balancesheet

Investors Bought Into Co Story For High Growth, Strong Business Model, & Its Cash Generation

Some May Look At Backward Integration As Meaningful Shift From Capital-Light Biz Model

Macquarie on HDFC Bank

Outperform Call, Target Rs 1,900

Q2 Loan Growth May Dip Below 10% YoY

Reportedly, Co Is Looking To Sell Rs 60,000-70,000 Cr Loan Assets

Note That Q2FY25 Will Be 1st Quarter Post Merger When YoY Numbers Will Be Comparable

Due To Base Effect & Sell-down As Per Reports, Q2 Loan Growth Could Be Less Than 10% YoY

Expect NIM To Improve A Further 5 bps QoQ In 2QFY25 To 3.52% Vs Most Other Banks

HDFC Bank Peers May Report Flat To Slightly Declining Margin

Nomura on HDFC Bank

Neutral Call, Target Rs 1,720

Sell-down Accelerate LDR Resolution, But Affect Medium-term EPS & RoE

Cut FY26-27 EPS By 2%

Overall Market For Securitisation Of Loans Is Projected To Be `2 Lk Cr In FY25

Planned Loan Sell-Downs Alone Can Potentially Be 30-35% Of Market

It Remains To Be Seen Whether Such Large Volumes Can Be Absorbed

Nomura on Crompton Cons

Buy Call, Target Rs 498

Co Maintained That Its Premiumisation Focus Remains On Track Across Segments

Over Longer-term, In Fans, Co Believes Stricter Govt Regulation On Efficiency Norms Will Drive Mkt

Crompton Believes It Will Benefit From Stronger Premiumisation Push

Focus On Alternate Channels Like Modern Trade/e-Commerce

On Butterfly, Management Stated That Restructuring Is Largely Over

Revenue Growth Should Be Visible In H2, As Per The Co

MS on Crompton Cons

Equal-Weight Call, Target Rs 323

Rev Growth Guidance In Mid-teens (10-12% From Base Biz Plus 2-3% From New Businesses)

EBITDA Margin To Improve Nearly 200 bps With Product Mix And Operating Leverage

Consumer Demand - Near-term Weakness Owing To Inflationary Pressure

Festive Demand In South (Onam) Was Lower YoY

Margin To Improve In H2, In Long Run Expects 10% EBITDA Margin

UBS on Hero MotoCorp

Sell Call, Target Rs 3,350

Wholesale Volumes And Festive Optimism Clouding Retail Underperformance

Festive Strength Has Not Aided In Full-year Performance

Substantial Retail Market Share Loss Despite Launches; Sep’24 Below 24%

Stock Trading At 26x FY26 PE, More Than 3SD Higher Than Its 5-yr Historical Average

HSBC on Tech Mahindra

Hold Call, Target Rs 1,600

There Is Significant Potential For Mining In Co’s Non-telco Client Base

Telecom Outlook Remains Uncertain

Margin Expansion Is Highly Contingent On Pyramid Adjustment

Post Recent Run-up, Expect The Stock To Remain Rangebound

HSBC on Alembic Pharma

Upgrade To Hold, Target Raised To Rs 1,130 From 1,010

Take More Constructive View Of Efforts To Improve Quality Of US Filings

Rising Share Of Differentiated Products To Help De-Risk Its US Sales Growth Long Term

Execution Remains Key For US Sales Pick-up

HSBC on Ola Electric

Buy Call, Target Rs 140

Found Most Ola Service Stations Overwhelmed By Service Requests

Co Is Undergoing Multiple Initiatives To Improve Situation; Positively, Many Issues Seem Transitory

Think An Improvement In Service Quality Is Required Before Critical Launch Of Motorcycles

CITI on GAIL

Buy, TP Rs 260

Identify 3 key catalysts that could play out over next 6-12 months that believe are not yet priced in:

1) Upside to transmission tariffs;

2) Gas being brought under GST;

3) Restructuring of CGD investments

Swiss financial services company UBS Group on Wednesday bought shares of HDFC Bank for over ₹543 crore through an open market transaction. According to the block deal data available on the BSE, UBS Group’s arm UBS Principal Capital Asia purchased 30.72 lakh shares of the Mumbai-based bank. Read more

Silver maintained its current run, trading above $31.8, close to the highest level since 2012, on dovish forecasts from the Federal Reserve, as well as speculations on some traction for industrial inputs in China. The Fed delivered a sharper-than-expected 50bps rate decrease in its September meeting, and FOMC members have subsequently noted that the rapid deterioration of the labour market’s resilience and softening inflation are likely to merit further relaxing in future decisions. In other news, the PBoC announced a package of monetary stimulus for the Chinese economy, bolstering the prospect for more investment in silver-intensive green technology, particularly solar panel manufacture.

Key economic data slated for release includes German GfK Consumer Climate from Euro Zone and Final GDP q/q, Unemployment Claims, Pending Home Sales m/m, Fed Chair Powell Speaks from US Zone.

Gold prices have stabilised after reaching a record high, buoyed by anticipation of another significant rate decrease by the US Federal Reserve, while traders await Federal Reserve Chair Jerome Powell’s speech for any signals on policy direction. The Commerce Department’s report also indicated that new single-family home sales in the United States declined less than predicted in August. The Federal Reserve dropped interest rates by 50 basis points at its most recent policy meeting, and traders expect a 58% possibility of another half-point cut in November, according to CME FedWatch Tool. Federal Reserve Governor Adriana Kugler remarked that she considers US monetary policy to be “restrictive,” and that with continuous disinflation, it is reasonable to explore decreasing the policy rate. The escalating confrontation between Iran-backed Hezbollah in Lebanon and Israel also boosted gold prices, with both sides launching cross-border missiles, raising worries of a larger conflict.

Key economic data slated for release includes German GfK Consumer Climate from Euro Zone and Final GDP q/q, Unemployment Claims, Pending Home Sales m/m, Fed Chair Powell Speaks from US Zone.

Coromandel International: Company increases shareholding in Senegal based rock phosphate mining company BMCC 

Uno Minda: Company agreement with Hyundai Mobis for manufacturing of licensed products 

IDFC Limited: Company has received final approval from NCLT for the amalgamation of IDFC Financial into IDFC Limited and IDFC Limited into IDFC First Bank. 

TVS Holdings: Company gets CCI approval for acquisition of 80.74% of home credit India finance. 

JBM Auto: Company has announced the incorporation of a wholly-owned subsidiary, JBM Electric Vehicles International PTE Ltd, in Singapore.

Vedanta: board meeting on OCT 8 to consider fourth interim dividend

Infosys: Company and Polestar have formed a strategic partnership. 

Jaykay Enterprises: Company’s subsidiary, JK Defence & Aerospace, received Rs 14.05 Cr loan from Julius Baer Capital (India) Private Limited. 

Bank of Baroda: Sydney branch concluded borrowing of AUD 200 million via syndicated term loan facility 

Shriram Finance: Company raised USD 500 million through Social Bonds at 6.15% interest for 3.5 years.limited 

Power & Instrumentation: Company has been appointed by the AAI as the specialized agency for the power supply system of the new integrated passenger terminal building at Maharana Pratap Airport, Udaipur

Prestige Estate: Company has launched exquisite residential project “Prestige Pine Forest” in Whitefield, Bangalore 

Auto Stocks: Karnataka govt plans new electric vehicle policy with tax exemptions and incentives: sources

Reliance Power: Company said its subsidiary, Rosa Power, has prepaid ₹850 crore of its debt to Singapore-based lender Varde Partners

Zen Technologies: Company announced partnership with its subsidiary AI Turing Technologies has launched four innovative remote-controlled weapon and surveillance systems 

Adani Ent: Adani Group explores collaboration with Bombardier to boost Indian aviation 

Adani Green: Promoter entities Hibiscus Trade & Ardour Investment Holding buys 2.96% equity in the Adani Green Between July 30-September 23, 2024 

KPI: Company gets LoA from Sai Bandhan Infinium for development of 66.20 MW Hybrid Power Project. 

PB Fintech: Company may explore plans to enter the healthcare space & may start its own chain of hospitals, 

Emami: Company’s arms Emami International FZE & Emami International Personal Care incorporates Emami Neo-Herbals International in Bangladesh. 

HUDCO: Company appointed Shri Daljeet Singh Khatri as Chief Financial Officer replacing Smt. Reva Sethi.. 

Norris Medicines: Ms. Susmita Mahapatra resigned as an Independent Director of The Company. 

Cipla: Company purchase of 6.9124% equity interest of Jiangsu XIDI pharmaceuticals held in Cipla (Jiangsu), deal for RMB 35.8 million.

Sundram Fasteners: Company announces the retirement of Sri B Muthuraman, Non-Executive Independent Director, and effective September 25, 2024. 

ONGC: Company approved investment in ONGC Petro additions, Company approved investment in equity shares of opal for Rs 105.01 billion. 

Bank of India: Bank to accept bids Rs of 25 billion in issue of Basel iii compliant Tier ii bonds. 

Lumax Auto: Company acquired a 60% stake in Green fuel Energy Solutions for Rs 133 Cr, marking its entry into the green and alternate fuel segment. 

Borosil Renewables: Company to invest Rs 178.3 million in Clean max Prithvi Pvt Ltd

KPR Mill: Company’s promoter KP Ramaswamy sells ₹971.4 crore worth of shares

Five Star: PE Investors to sell 19.22% stake in Five Star Finance. Floor price at ₹768 & deal size $517m

HDFC Bank: BNP Paribas sells 3.07 m shares of the bank at ₹1,768.05/sh. UBS Capital buys 3.07 m shares of the bank at ₹1,768.05/sh 

ASK Auto: Kuldip Singh Rathee, one of the promoters of the company, to sell 6.05% stake in ASK Automotive via OFS. 

SpiceJet: Ireland-based aircraft lessor Carlyle Aviation Management has sold its 1.42% stake in the airline company. 

Zaggle: Company approves acquisition of 98.32% stake in SpanAcross.

GIFT Nifty +54 pts (26057) from last trade 26003 , 

Nikkei +700 pts , 

Hangseng +173 pts , 

Now @6.52am . 

Dow -293.47 pts ,Nsdq +7.68 pts, S&P 

-10.67 pts , Bovespa -569 pts , Ftse -14 pts , Dax -78 pts , Cac -38 pts , Crude @ $69.59 brl (-0.10), Brent @ $73.46 brl (+0.00) , Gold @ 2682.60 (-2.10), Silver $32.14 (+0.12), Euro @ $1.113, JPY @ $144.74, INR @ 83.615

🔹US GOVT. 10-YR YIELD : 3.78%

Today’s Corporate Action, 26 Sept Ex Date :

PURPLEFIN\u0009

Right Issue of Equity Shares 

Today’s Key Results/Board Meetings, 26-Sep-24 :

\u0009 \u0009 

ESARIND

General

GOLDTECH

General

INDIANB

General

ITL

General

LUCENT

Consumer ServicesAmalgamation;

General

MFSINTRCRP

General

PAVNAIND

Issue Of Warrants;Preferential Issue of shares

STARLENT

General 

\u0009 \u0009

SEC. IN F&O BAN FOR, 26 SEPT, 2024 :

\u0009

1. \u0009ABFRL 2. \u0009GRANULES 3.\u0009HINDCOPPER 4. \u0009IDEA 5. \u0009IEX

ADDITION : NIL DELETION : NIL

* ABFRL

* GRANULES

* HINDCOPPER

* IDEA

* IEX

U.S. equity indices futures are trading in green zone with technology stocks led move as memory chip maker Micron after it clocked strong earnings.

Shares of Micron Technology Inc rallied more than 14% in aftermarket trade, after the memory chip maker clocked stronger-than-expected quarterly earnings and provided a blowout forecast for the current quarter on strong artificial intelligence demand.

Accenture plc (Pre market) (Sector- Technology)

Jabil Inc (Pre market) (Sector- Capital Goods)

CarMax Inc (Pre market) (Sector- Auto)

Costco Wholesale Corporation: (Post market) (Sector- Retail)

18.00 U.S. Final GDP q/q (Expected: 3.0% versus Previous: 3.0%)

18.00 U.S. Unemployment Claims (Expected: 224K versus Previous: 219K)

18.00 U.S. Durable Goods Orders m/m (Expected: -2.8% versus Previous: 9.8%)

18.50 U.S. Fed Chair Powell Speaks

19.00 EURO ECB President Lagarde Speaks

19.30 U.S. Pending Home Sales m/m (Expected: 0.9% versus Previous: -5.5%)

[7:30 am, 26/9/2024] KS BadriNarayanan: 

Seller: Kuldeepsingh Rathee (Promoter) 

Floor Price: Rs 433/Sh (Approx 8.0 percent discount at Last Closing 467.9) 

Total OFS size in Rupees: 1.1927 crore shares or Rs 516.4 crore (At floor price) 

Base OFS size in Rupees: Rs 469.0 crore (At floor price) 

Green Shoe size in Rupees: Rs 47.4 crore (At floor price) 

For Non-Retail Investors: 26th September 2024 

For Retail Investors: 27th September 2024 

Retail Reservation: 10% 

Mutual Fund and Insurance companies’ Reservation: 25%

https://play.google.com/store/apps/details?id=com.intelegain.rb

Recent Interview...

As of 18:40 PM Wednesday 25 September 2024

Indo Count Industries : Kailash. R. Lalpuria, Executive Director & CEO

Expect $50 m In Revenue From Fluvitex In The First Year Of Acquisition: Indo Count Industries

https://www.youtube.com/watch?v=fEPjhCV2qBU

IIFL Finance: Nirmal Jain, Chairman

Will Diversify & Focus On MSME Seg To Avoid Over-Reliance On Gold Loans In The Medium Term: IIFL

https://www.youtube.com/watch?v=7mypEhjCw_Y

KIMS Hospitals: Dr. Bhaskara Rao, MD

Will Be Able To Generate Money For Capex Via Internal Accruals: KIMS

https://www.youtube.com/watch?v=Z9uWLb9ZaYQ

MCX India: Rishi Nathany, MD

Participation On Exchanges Expected To Rise Due To Benefit Of Lower Transaction Charges: MCX

https://www.youtube.com/watch?v=ZJMirp3SrFU

PiramlLifeSci: Nandini Piramal, Chairperson

We Want To Be A $2 Bn Company; Increase EBITDA To 25% By 2030: Nandini Piramal, Piramal Pharma

https://www.youtube.com/watch?v=jnioWrHNr4o

SpiceJet: Ajay Singh, CMD

SpiceJet Sufficiently Funded For Next Few Years Post The QIP: Chairman & MD Ajay Singh

https://www.youtube.com/watch?v=8M3x3itxxUQ

Srivari Spices: Narayan Das Rathi, Founder

Srivari Spices: ‘Plans To Come Out With A New Unit By Q3FY25’, What’s The Expansion Plan For Future?

https://www.youtube.com/watch?v=m2E376umZ48

TVS SUPPLY CHAI: Ravi Viswanathan, MD

What Are TVS Supply Chain’s Plans to Reduce Logistics Costs and Boost Profitability?

https://www.youtube.com/watch?v=6uZKXtV0iV0

Cosmo First: Pankaj Poddar, CEO

Expect Plastic Biz To Be EBITDA Positive From Q4FY25: Cosmo First

https://www.youtube.com/watch?v=RhiYtF-1MLA

Info Edge: Hitesh Oberoi, MD&CEO

InfoEdge: ‘Seeds Have Been Sown For 2 Lakh Cr Market Cap

https://www.youtube.com/watch?v=H5sgNdXuHYU

Events today…

https://www.researchbytes.com/Default.aspx?cc=event

Results today…

https://www.researchbytes.com/Default.aspx?cc=result

Replays available at www.researchbytes.com

25 September 2024 (Rs. In Crs.)

Turnover: (NSE + BSE)

Cash Volume: 109967 + 9979.04 Total: 119946.04

F&O Volume: 739777.68 + 378428.05 Total: 1118205.73

Provisional Cash

FII/FPI: NET SELL: -973.94 

(15086.88 - 16060.82) 

DII: NET BUY: 1778.99 

(12899.34 - 11120.35)

Non-banking finance company (NBFC)Shriram Finance has raised $500 million through a 3.6-year tenure social bond at a 6.15 per cent interest rate per annum, according to an exchange notice.

Acknowledging the resilience character, the Asian Development Bank (ADB) on Wednesday retained India’s economic growth rate at 7 per cent for current fiscal year, i.e., 2024-25 (FY25). 

Piramal Pharma is looking to clock revenues of $2 billion by 2030, powered by three segments - contract development and manufacturing, complex hospital generics and consumer healthcare.

Coromandel International Limited announced that its wholly-owned subsidiary Coromandel Chemicals Limited (CCL) will acquire an additional 8.82 per cent stake in Baobab Mining and Chemicals Corporation (BMCC) for $3.84 million. This acquisition will increase CCL’s shareholding in the Senegalese rock phosphate miner to 53.8 per cent from 45 per cent. Read more

Crompton Greaves Consumer Electricals Limited announced today the launch of its new product line, Highspeed Santos, in the domestic Indian market. The high-speed induction fans are available in 48-inch and 36-inch sweep sizes, expanding Crompton’s offerings in the consumer electricals sector. Read more

As a first-of-its-kind solution by a telecom service provider (TSP) in the country, Bharti Airtel (Airtel) on Wednesday launched artificial intelligence (AI) powered spam detection solution that will significantly solve the issue of spam calls and messages for its customers.

Shriram Properties Ltd (SPL), a leading real estate developer in South India and part of the Shriram Group, has launched a new project under the ‘Codename - Pudhiya Chennai’, an apartment project in the Thirumazhisai neighbourhood of Chennai. Read more

Infosys has announced a strategic collaboration with Polestar, the Swedish electric performance car brand. This engagement aims to create a base for Polestar’s development of in-car infotainment, Software and Electrical / Electronics (SW&EE) engineering, user experience (UX), and cloud-powered digital services. Infosys will establish a global technology hub for Polestar at its development center in Bengaluru. 

Murugappa Group company Coromandel International Ltd has announced the acquisition of an additional equity stake in Baobab Mining and Chemicals Corporation (BMCC) in Senegal through its wholly-owned subsidiary, Coromandel Chemicals Ltd. The company will increase its stake by 8.82 per cent, raising its total ownership in BMCC to 53.8 per cent. Read more

Stock-broking platform Zerodha could take 30-60 per cent revenue hit in the coming months once SEBI’s proposed regulatory framework for index derivatives is implemented. Read more

The post-pandmeic recovery of inbound tourism in India is lagging behind global trend with six-month arrivals in CY 2024 at 91 per cent of 2019 figure, according to data compiled by rating agency CRISIL. Read more

The Securities and Exchange Board of India recently unveiled a proposal that has the potential to reshape the landscape of investments in the country. The proposal centres on the introduction of a new asset class, tentatively named MF Lite. The aim is to offer a regulated framework that empowers mutual funds to venture into the realm of alternative assets and other areas presently available only to HNIs. Read more

Malaysia’s IHH Healthcare will grow in India through its “twin engines”, the Gleneagles and Fortis chain of hospitals, said Group Chief Executive Officer Dr Prem Kumar Nair. Read more

The short-term outlook for CESC is bullish. The stock has surged over 10 per cent so far this week. That marks the end of the corrective fall that was in place earlier. The rally has taken the share price well above ₹202 - a key intermediate resistance. Support will now be in the ₹202.50-₹202 region.