Stock Market Today | Share Market Live Updates - Find here all the live updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for 03 September 2024.
ALL UPDATES
- September 03, 2024 13:27
Nifty today: Nifty Oil & Gas stock outlook
Top gainers
Aegis Logistics (3.71%)
Castrol India (3.03%)
MGL (1.30%)
Top decliners
IOC (-1.28%)
Oil India (-1.27%)
Petronet (-1.13%)
- September 03, 2024 13:15
Stock market live today: Bessemer India to sell stake in Medi Assist Healthcare via block deal; stock trades over 1% higher
Medi Assist Healthcare stock traded at ₹625.95 on the NSE, higher by 1.31%. According to media reports, Bessemer India will sell stake in Medi Assist Healthcare through block deal, with a deal size reported to be Rs 540.94 crore.
- September 03, 2024 13:03
Stock market live today: Top gainers of Nifty FMCG stocks
Nestle (1.81%), Dabur (1.51%), Hindustan Unilever (0.89%), Tata Consumer Products (0.73%)
- September 03, 2024 12:48
Stock market live today: Adani Wilmar denies acquisition rumours; AWL stock drops 1.28% on NSE
Adani Wilmar issues clarification on news report to acquire 3 FMCG brands in a billion dollar shopping plan.
“The Company is engaged in Foods & FMCG business and keeps evaluating various strategic opportunities in the ordinary course, for growth and expansion of its business. At this stage, there is no material event / information that requires disclosure,” it said.
AWL stock declined 1.28% on the NSE, trading at ₹371.50
- September 03, 2024 12:27
Stock market live today: Kaynes Technology shares surge 4.02% on NSE
Kaynes Technology shares surge 4.02% on the NSE, trading at ₹4,850. Union Cabinet had approved the proposal of Kaynes Semicon Pvt Ltd to setup a semiconductor unit in Sanand, Gujarat. The proposed unit will be setup with an investment of ₹3,300 crore.]
- September 03, 2024 12:26
Stock in focus: Regency Ceramics proposes 100% stake acquisition of Segno Ceramics, stock hits upper circuit at ₹58.06 on NSE
Regency Ceramics Limited has proposed to acquire 100% stake, by way of purchase of equity shares from its existing shareholders/Promoters of Segno Ceramics Private Limited for a cash consideration.
Regency Ceramics stock hits upper circuit on the NSE at ₹58.06.
- September 03, 2024 12:19
Commodities market updates: Blenders, upcountry buyers lift tea prices at Coonoor auctions
Blender support and upcountry buying lifted tea prices at Coonoor auctions last week, and with prices of almost all grades turned dearer.
According to traders, the inclement weather in production centres with continuing rains hit tea arrivals to the auction platform as well.
Global Tea Auctioneers said the quantity offered in CTC leaf was 14,57,651 kg with a sales per cent of 88, while dust category witnessed 97 per cent sales out of the offered quantity of 3,38,025 kg .
- September 03, 2024 12:11
Stock market live today: GACM Technologies promoters to boost stake through preferential allotment
Promoters and promoter group of GACM Technologies Limited intend to increase their stake in the company by participation in preferential allotment of Equity shares warrants
GACM Technologies stock trades at ₹1.66 on the NSE
- September 03, 2024 12:04
Nifty today: Top gainers, losers at noon trade
Top gainers on the NSE as at 12 noon:
Hero Motocorp (1.40%), Nestle India (1.19%), Wipro (1.14%), Hindustan Unilever (1.01%), Sun Pharma (0.97%)
Top losers:
Bajaj Finance (-1.99%), Adani Ports (-0.71%), JSW Steel (-0.70%), Britannia (-0.69%), Bajaj Finserv (-0.68%)
- September 03, 2024 12:02
Sensex today: Advance-decline ratio at noon trade
Stocks advanced on BSE at 12 noon on September 3, 2024, were 2,013 against 1,772 stocks that declined, and 123 remained unchanged. Total stocks traded were 3,908. The number of stocks that recorded a 52-week high was 230, and those that hit a 52-week low was 24.
A total of 257 stocks traded in the upper circuit, and 227 in the lower circuit.
- September 03, 2024 11:59
Stock market live news: Orissa Bengal Carrier entered into contract for transportation of materials of Sunflag Iron; stock gains over 2%
Orissa Bengal Carrier Limited has entered into contract for transportation of approx. 26,000 MT of materials of Sunflag Iron & Steel Co. Limited.
Orissa Bengal Carrier stock gained 2.47% on the NSE, trading at ₹60.10.
- September 03, 2024 11:50
Stock market live today: KPI Green Energy’s arm Sun Drops Energia gets LoI for 7 MW solar projects
Sun Drops Energia Private Limited, a wholly owned subsidiary of KPI Green Energy Limited, has received Letters of Intent for executing solar power projects with a cumulative capacity of 7 MW under the ‘Captive Power Producer (CPP)’ business segment.
KPI Green Energy stock trades flat on the NSE at ₹890.
- September 03, 2024 11:49
Stock in focus: Rama Steel Tubes surges on NSE after incorporating Rama Defence
Rama Steel Tubes has incorporated a wholly owned subsidiary company in the name of Rama Defence Private Limited.
Rama Steel Tubes stock surged 4.56% on the NSE, trading at ₹11
- September 03, 2024 11:48
TCS expands partnership with Google Cloud; stock trades flat
Tata Consultancy Services (TCS) has expanded its partnership with Google Cloud to offer two new cybersecurity solutions for customers.
Stock trades flat on the NSE at ₹4,520.85
- September 03, 2024 11:36
Stock Market live today: FirstCry subsidiary boosts stakes in home appliance brands
Globalbees Brands Private Limited, a material subsidiary of Brainbees Solutions Limited (FirstCry), has increased its investments in two step-down subsidiaries. The company invested ₹105.15 crores in Frootle India Private Limited and ₹1.05 crores in Wellspire India Private Limited, raising its stake in both entities from 51 per cent to 74 per cent.
The shares of Brainbees Solutions Limited were trading at ₹623.65 down by ₹8.55 or 1.35 per cent at 11.20 am today on the NSE.
- September 03, 2024 11:34
Stock Market live today: Rama Steel Tubes incorporates a subsidiary company, shares trade up
Rama Steel Tubes has incorporated a wholly owned subsidiary company in the name of Rama Defence Private Limited.
Rama Steel Tubes stock surged 4.56% on the NSE, trading at ₹11
- September 03, 2024 11:33
Stock Market live today: Premier Energies’ shares make stellar market debut; shares jump over 120%
Shares of solar cell and module manufacturer Premier Energies Ltd on Tuesday listed with a sharp premium of over 120% against the issue price of ₹450.
The stock made its debut at ₹991, surging 120.22% from the issue price on the BSE. It later soared 120.76% to ₹993.45.
On the NSE, shares of the firm listed at ₹990, a jump of 120%.
The company’s market valuation stood at ₹39,291.75 crore.
The initial public offer of Premier Energies got subscribed 74.09 times on the last day of subscription on Thursday.
Read more here.
- September 03, 2024 11:15
Stock Market live today: Tata Consultancy Services expandes its partnership with Google Cloud, shares trade flat
Tata Consultancy Services (TCS) has expanded its partnership with Google Cloud to offer two new cybersecurity solutions for customers.
Stock trades flat on the NSE at ₹4,520.85
- September 03, 2024 11:11
Commodities Markets live today: Crude oil down despite Libya supply disruptions
Crude oil futures traded lower on Tuesday morning despite concerns over supply disruptions from Libya.
At 9.54 am on Tuesday, November Brent oil futures were at $77.27, down by 0.32 per cent, and October crude oil futures on WTI (West Texas Intermediate) were at $73.92, down by 0.16 per cent.
September crude oil futures were trading at ₹6,221 on the Multi Commodity Exchange (MCX) during the initial hour of trading on Tuesday, against the previous close of ₹6,222, down by 0.02 per cent, and October futures were trading at ₹6,155, against the previous close of ₹6,157, down by 0.03 per cent.
In a major development, the National Oil Corporation of Libya declared force majeure on El-Feel oil field from September 2. Operated by Mellitah Oil and Gas, this field has a capacity of 70,000 barrels a day.
A Reuters report said the UN Support Mission in Libya held talks on Monday to resolve a dispute over control of the central bank. This dispute triggered a blockade of crude oil production, following which Libya’s oil production went down below half of its usual level.
Read more here.
- September 03, 2024 10:59
Stock market live today: Marico expands Saffola’s millet portfolio with new flavours; stock trades flat
Marico announced the launch of Saffola Masala Millets in two new flavours. The new category expands the marque brand Saffola’s millet portfolio.
Marico stock trades flat on the NSE at ₹647.50
- September 03, 2024 10:47
Stock market live updates: Munjal Auto faces ₹6.76 crore demand Notice from Haryana GST Authority
Munjal Auto Industries Limited has received today a demand Notice/order from the Haryana GST Authority.The total demand amount is ₹6.76 Crore.
Stock trades at ₹124.52, higher by 2.26% on the NSE
- September 03, 2024 10:46
Stock market live updates: GE Power settles arbitration with Navayuga Engineering for ₹31.45 crore
GE Power India Limited (the Company) has entered into a settlement agreement with Navayuga Engineering Company Limited (NECL), pertaining to an arbitration related to the E&M Turnkey Contract between the Company and NECL has been ongoing since 2020.
NECL has agreed to pay a sum of ₹31.45 crore.
GE Power India stock trades flat on the NSE at ₹425.10
- September 03, 2024 10:45
Stock in focus: Welspun CorpaAnnounces $100 million investment in US subsidiary for pipe manufacturing; stock trades flat
Welspun Corp shares trade flat on the NSE at ₹698. Company had approved an investment of approximately $100 million to enhance the high-frequency induction welding (HFIW) pipe manufacturing and coating capabilities of its wholly-owned subsidiary, Welspun Pipes Inc, in the US.
- September 03, 2024 10:20
Stock market live today: Stock recommendations: Prabhudas Lilladher on Narayana Hrudayalaya
We hosted Viren Shetty (Executive Chairman) and Anesh Shetty (CEO – HCCI Cayman) of Narayana Hrudayalaya for NDR at Mumbai. The management reiterated its aggressive capex plan and commitment towards growing throughput over the next 3-4 years through debottlenecking, refurbishment and better bed mix. In the medium term, NARH intends to add 1,500 beds through greenfield expansion across Bengaluru, Kolkata and Raipur, benefits of which will be seen from FY28/29. More importantly, capex spend would be mainly towards core and high-performing regions such as Bengaluru, Kolkata and Cayman, to enhance growth visibility.
- September 03, 2024 10:20
IPO Watch: Shares of Premier Energies were listed at ₹990 and ₹991 on the NSE and BSE, respectively.
- September 03, 2024 10:19
Stock market live today: Stock Recommendations: CITI On 360 One
Buy, TP Rs 1250
Open 90D +ve catalyst watch based on
1) likely elevated transactional rev in 2Q
2) strong momentum in wealth management fresh inflows
3) revival in AMC flows
4) any +ve commentary supporting pickup in new HNI segment
Disc to peers unwarranted
- September 03, 2024 10:18
Stock market live today: Stock Recommendations: B&K on GMR Power
Initiate Buy, TP Rs 184
Triggers
Energy assets consolidated
Thermal assets have shown improved Plant Load Successfully restructured b/sh
Conversion of $ 275 mn subordinated FCCBs into equity
Presence in smart metering
- September 03, 2024 10:18
Stock market live today: Stock Recommendations: Kotak Inst Eqt on Aadhar Housing
Initiate Buy, TP Rs 550
Large affordable HFC with long track-record, well-diversified geographical presence & customer profile
Its multipronged expansion & appraisal strategy will drive 21% AUM CAGR(FY2024-27E)with low credit costs
- September 03, 2024 10:18
Stock market live today: Stock Recommendations: BOFA Sec on Pharma
IQVIA indicates +ve US gx trends with stable price erosion
Reiterate Buy- DRL, Aurobindo, BIOS, GLAND
GLAND partners gain share across drugs
Cipla in Lanreotide & Albuterol; Eyes on comp impact in Albuterol/ Asacol HD
SUNP specialty trends mixed
- September 03, 2024 10:18
Stock market live today: Stock Recommendations: JPM on Gujarat Gas
UW, TP Rs 475
STK was up c.12% after restructuring announcement
Reorganization, however, significantly increases Co’s exposure to commodity prices, which might currently be viewed favorably as gas prices are expected to remain soft
This also however brings valuations (c.28x 1yr Fwd P/E and 17.5x Fwd EBITDA prior to the announcement) into sharp contrast, which appear too high for commodity exposure
- September 03, 2024 10:17
Stock market live today: Stock Recommendations: BOFA Sec on Infosys
Buy, TP Rs 1975
Management meet takeaways
1) Early days of recovery but uncertainty on 2 of 3 aspects is reducing
2) Approach to AI is same as for cloud which had seen good market share success
3) Project Maximus is already at work on margins
- September 03, 2024 10:17
Stock market live today: Stock Recommendations: Citi on Tech Mahindra
Sell Call, Target Rs 1,260
Growth Is Still Difficult In The Current Environment
BFSI Is Improving But It Is Slow & Gradual
There Are 10-15 Actions In Play To Drive Margin
Focus Is On Costs To Drive Margins Initially Followed By Pyramid Optimisation
Some Part Of The Margin Improvement Will Be Invested Back
Wage Hikes To Be Reviewed In October
- September 03, 2024 10:17
Stock market live today: Stock Recommendations: Citi on Vedanta
Buy Call, Target Rs 430
Co Announced 3rd Interim Dividend Of Rs 20/Sh
Total Outflow On Account Of Dividend Would Be Rs 7,800 Cr (Promoters Own 56.4%)
Co’s Net Debt Excluding HZL Was Rs 61,000 Cr As Of Jun’24
Post Jun’24, Vedanta Has Raised Nearly Rs 8,500 Cr On July 20, Issue Of 193.2 m Shrs Via QIP
- September 03, 2024 10:16
Stock market live today: Stock Recommendations: Jefferies on Telecom
In Q1FY25, Sector Revenue Growth Moderated To 7% YoY
Bharti/Jio Revenues In Q1 Up 9-10.5% YoY Respectively
Bharti/Jio Gained 35 bps/70 bps Market Share In Q1FY25
Voda Idea’s Market Share Declined To An All-time Low, With Market Share Loss In 16/22 Circles
Mkt Sh Gains Toward Bharti/Jio Likely To Continue Till Voda Idea Completes Network Invst
Expect Sector Revenues To Grow At A 15% CAGR To $38 Bn Over FY24-26
- September 03, 2024 10:16
Stock market live today: Stock Recommendations: Kotak Inst Eqt on Kaynes
ADD, TP Rs 4950
Receiving approval to set up an OSAT facility paves way for co to enter into semiconductor value chain.
Near term Focus would be to ramp up execution; however, over medium term, focus would be on shifting rev toward advance packaging sol
- September 03, 2024 10:16
Stock market live today: Stock Recommendations: MS on Kaynes Tech
Overweight Call, Target Rs 3,845
Government Approval For Kaynes Semicon Semiconductor Plant In Gujarat Is Positive
The Pending Government Approval Remained An Area Of Investor Concern
Co Had Earlier Indicated That Its OSAT Venture Could Garner Incremental Potential Revenue
- September 03, 2024 10:16
Stock market live today: Stock Recommendations: HSBC on Rallis India
Reduce Call, Target Rs 251
Tuning Biz Model To Play On Strengths, A Well Executed Plan Can Bolster Competitive Position
Planning To Double Domestic CP Market Share
Co Plans To Seed Revenue Over Next 4-5 Years; Turning Selective On Exports
Maintain Reduce Given Industry Headwinds
- September 03, 2024 10:15
Stock market live today: Stock Recommendations: Brokerages on Alkem Labs
Jefferies on Alkem Labs
Underperform Call, Target Rs 5,080
Mgmt Said That Boosting Operational Margin Will Be The Top Priority In Near-term
Investments In New Areas Will Take 2-3 Years To Bear Results
Co Aims To Be More Active In M&A And In-Licensing Going Forward
New Mgmt Plans To Pursue Profitable Growth Which Will Be Realised Via India, EM & CDMO Biz
JPM on Alkem Labs
Neutral, TP Rs 5870
Management meet key takeaways:
a) increased focus on driving profitable growth with re-allocation of resources towards relevant segments
b) margin improvement likely to be visible from FY27
c) domestic/EM business continue to be priority markets
d) Pen G forms 10% of COGS - has seen some firming up of prices
- September 03, 2024 10:14
Stock market live today: Stock Recommendations: Antique On HAL
Buy Call, Target Rs 6,145
Cabinet Clears Procurement Of Rs 26,000 Cr Order For 240 Aero Engines Of SU-30 MKI Aircraft
Order Will Further Bolster Cos Already Strong Order Backlog Of Rs 94,000 Cr (FY24 End) To Rs 1.2 Lk Cr
Strong Order Backlog Will Lead To Strong Revenue Visibility Of 3.8x Its TTM Revenue
Near-term Financials May Seem A Bit Volatile
Co Has Been Facing Challenges To Execute The Large Tejas MK I A Orders
Believe That Stock Is Attractively Valued With Multi-yr Double-digit Earnings Growth Potential
Stock Looks Attractively Valued With Robust Return Ratio Profile Of +20%
- September 03, 2024 10:14
Stock market live today: Stock Recommendations: CLSA On Consumer Sector
Overweight Call On Zomato, Target Rs 353
Underperform Call On Marico, Target Rs 470
Underperform Call On HUL, Target Rs 2,161
Quick Commerce Is Reshaping India’s Retail Supply Chain By Flattening Distribution
Quick Commerce Giving New Brands Increased Visibility & Price Competitiveness
Zomato Will Be Largest Listed Beneficiary
Staples Marketers Marico & HUL Face Risks As Their Distribution Advantage Erodes
Unlisted Co Zepto Is An Upand-Comer With Much To Offer Its Customers
For Blinkit, See EBITDA & Net Profit Turning Positive By FY25
Blinkit Will Contribute Up To 37% Of Our FY26 EPS For Zomato
- September 03, 2024 10:12
Stock market live today: Transport Corporation of India Limited-Buyback_Record Date Tomorrow
Route – Tender
Buyback Price: 1,200/-
Current Market Price: 1,100/-
Market Cap: Rs 8,566 Crore
Buyback Size: Rs 160 Crores (Representing 9.11% and 8.24% of the total paid up equity share capital and free reserves)
Buyback Size: 13,33,333 shares (Representing 1.72% of O/s. shares)
Retail Quota: 2,00,000 Shares
Last Cum Trading Date: 03 Sep 2024 (Today)
Ex-Date: 04 Sep 2024
Buyback Record Date: 04 Sep 2024
Buyback Schedule: Not Yet Announced
- September 03, 2024 10:10
Stock market live today: IPO Listing- Premier Energies Limited
Listing Date : Tuesday, September 03, 2024 (Today)
ISIN : INE0BS701011
BSE : 544238‘B’ Group
NSE : PREMIERENE
NSE Series : EQ
IPO Price : ₹ 450/-
App. Min. Lot : 33 Shares
- September 03, 2024 10:05
Stock market live today: Trading Tweaks
Ex/record dividend: Vinati Organics, Karnataka Bank, Ion Exchange (India), Deepak Fertilisers & Petrochemicals Corporation, Fineotex Chemical, Ganesha Ecosphere.
Ex/record buyback: Nucleus Software Exports.
Ex/record AGM: Alok Industries, Borosil Scientific, DB Corp., Jai Corp., JK Paper, Manorama, Sanghvi Movers, Schneider.
- September 03, 2024 10:05
Stock market live today: Stock Split: VARUN BEVERAGES FIXES SEPT 12 AS RECORD DATE FOR STOCK SPLIT
- September 03, 2024 10:05
Stock market live today: Bajaj Housing Finance Limited IPO FINAL
Price Band : 66-70
Lot : 214
Issue Size : 6560 Cr
Fresh : 3560 Cr
OFS : 3000 Cr
M.cap : 58,297 Cr
Retail : 35%
PB : 3.72×
Industry Average : 2.97×
Promoter Holding :
100%➡️88.75%
Lots :
Retail - 13,69,159
BHNI - 27,942
SHNI - 13,971
- September 03, 2024 09:57
Currency market updates: Rupee falls 4 paise to 83.95 against US dollar
The rupee declined 4 paise to 83.95 against the US dollar in early trade on Tuesday due to a stronger greenback in global markets and weak domestic manufacturing data.
A decline in the domestic equity market also contributed to the drop in the local unit, forex traders said.
At the interbank foreign exchange market, the rupee opened at 83.94, lower by 3 paise from its previous close before dropping further to 83.95. The unit had settled at 83.91 against the US dollar on Monday.
- September 03, 2024 09:48
Stock market live today: Vedanta shares trade flat on the NSE at ₹466.05 after announcing its third interim dividend of ₹20 per share for FY25.
- September 03, 2024 09:47
Stock market live today: Sunshine Capital signs term sheet for manufacturing unit with MSSTL, shares trade at ₹2.31 on BSE
Sunshine Capital has sanctioned an amount of ₹1964.90 million and signed a term sheet with Man Stainless Steel Tubes Limited (MSSTL) towards their development of a state-of-the-art manufacturing unit-2 for Non-API Electric Resistance Welded (ERW) Carbon Steel Pipes in Kathua, Jammu & Kashmir. The proposed installed capacity of this manufacturing unit is 250,000 MT per annum.
Shares trade at ₹2.31 on the BSE.
- September 03, 2024 09:46
Stock market updates: Vodafone Idea gets 9 orders under GST; shares trade flat at ₹15.08
: Vodafone Idea had received nine orders under the Central/ State Goods and Services Tax Act, 2017.
Shares trade flat on the NSE at ₹15.08
- September 03, 2024 09:43
Stock market live today: ICICI Bank clarifies no post-retirement payment to SEBI Chief, shares slip 0.55% on NSE at ₹1,223.20
ICICI Bank on Monday clarified that it did not pay any salary to Securities and Exchange Board of India (SEBI) chief Madhabi Puri Buch post her retirement from the bank on October 31, 2013.
Shares slip 0.55% on the NSE, trading at ₹1,223.20.
- September 03, 2024 09:42
Stock market live today: Cabinet Committee on Security approves ₹26,000 crore aero-engine procurement for IAF, HAL Shares rise 2.90%
Cabinet Committee on Security has approved the proposal for procurement of 240 aero-engines (AL-31FP) for Su-30 MKI aircraft of the Indian Air Force (IAF) under Buy (Indian) category from Hindustan Aeronautics Limited (HAL) at a cost of over Rs 26,000 crore inclusive of all taxes and duties. The delivery of these aero-engines would start after one year and complete over a period of eight years.
HAL shares rose 2.90% on the NSE, trading at ₹4,824.
- September 03, 2024 09:40
Stock in focus: Brainbees Solutions arm makes further investments in Frootle India and Wellspire India, stock declines 1.43% on NSE at ₹623.15
Brainbees Solutions subsidiary, Globalbees Brands Private Limited has made further investments of ₹105.15 crore and ₹1.05 crore in Frootle India Private Limited and Wellspire India Private Limited, respectively, step down subsidiaries of the Company.
Brainbees Solutions stock declined 1.43% on the NSE, trading at ₹623.15
- September 03, 2024 09:39
Stock market live today: DiGiSPICE informs about order against spice money, shares up 1.20% on NSE at ₹36.20
DiGiSPICE Technologies informed about an order passed by Additional Commissioner, Dehradun, Uttarakhand against Spice Money Limited, a material subsidiary of the Company. The total demand under the said order is ₹45,74,652.
Shares were up 1.20% on the NSE, trading at ₹36.20
- September 03, 2024 09:38
Stock in focus: Belstar Microfinance receives final observations for proposed IPO, Muthoot Finance stock trades flat
Muthoot Finance subsidiary Belstar Microfinance Limited has received final observations on the Draft Red Herring Prospectus dated May 3, 2024 filed with the Securities and Exchange Board of India, for the proposed Initial Public Offering (IPO).
Stock traded flat on the NSE at ₹1,961.35
- September 03, 2024 09:37
Stock market live today: L&T Technology recognized as partner-level supplier by John Deere for fourth consecutive year, shares trade flat
L&T Technology Services Limited has earned recognition as a Partner-level supplier for the fourth year in a row in the John Deere Achieving Excellence (AE) Programme.
Shares trade flat on the NSE at ₹5,758.75
- September 03, 2024 09:36
Stock in focus: KFin Technologies launches mPower platform for wealth management, shares dip 0.31%
KFin Technologies has launched the mPower Wealth platform, an advanced, omnichannel wealth management solution designed to address the needs of wealth managers, family offices, banks, and external asset managers.
Shares slip 0.31% on the NSE, trading at ₹1,020.50
- September 03, 2024 09:35
Stock in focus: Adani Green Energy and TotalEnergies announce JV for 1,150 MW solar projects in Gujarat, stock trades weak
Adani Green Energy Limited (AGEL) and TotalEnergies, have announced a strategic joint venture (JV), equally owned by both entities, aimed at managing a portfolio of solar projects totaling 1,150 MW. The projects are located at the world’s largest renewable energy plant in Khavda, Gujarat. AGEL will contribute its current assets to the new JV, while TotalEnergies plans to inject $444 million to accelerate the development of these projects.
Shares declined 1.23% on the NSE, trading at ₹1,921.70
- September 03, 2024 09:34
Nifty today: Top gainers, losers at 9.30 a.m.
Top gainers on the NSE as at 9.30 am:
Hindalco (1.07%), Sun Pharma (0.83%), Shriram Finance (0.64%), ITC (0.60%), Divi’s Lab (0.59%)
Top losers:
Bajaj Finance (-1.68%), Bajaj Finserv (-0.79%), Bajaj Auto (-0.77%), Infosys (-0.69%), Titan (-0.57%)
- September 03, 2024 09:32
Stock market live today: The century old Raymond Group plans two listings by end of 2025
The nearly 100-year-old conglomerate Raymond Ltd. is looking to list its apparel and real estate units by the end of 2025 as the founders look to boost shareholder value.
The group, which oversees a motley mix of businesses ranging from engineering, aerospace to fashion and realty, will have three listed entities by next year, after Raymond Lifestyle Ltd. starts trading in Mumbai on Thursday and the real estate unit gears up for a 2025 listing, Chairman Gautam Hari Singhania said in an interview.
- September 03, 2024 09:25
Commodities market updates: Oil futures down despite Libya supply concerns: November Brent oil at $77.21 (-0.40%)
Crude oil futures traded lower on Tuesday morning despite concerns over supply disruptions from Libya. At 9.19 am on Tuesday, November Brent oil futures were at $77.21, down by 0.40 per cent, and October crude oil futures on WTI (West Texas Intermediate) were at $73.91, down by 0.18 per cent. September crude oil futures were trading at ₹6217 on Multi Commodity Exchange (MCX) during the initial hour of trading on Tuesday against the previous close of ₹6222, down by 0.08 per cent, and October futures were trading at ₹6152 against the previous close of ₹6157, down by 0.08 per cent.
- September 03, 2024 09:24
Stock market live today: Opening Bell: Sensex and Nifty show minor decline; analysts predict market correction ahead
Indian benchmark indices, Sensex and Nifty, opened flat with a negative bias on Tuesday. At 9:17 am, the 30-share BSE Sensex dropped 15.56 points to 82,544.28, while the NSE Nifty fell 1.60 points to 25,277.10.
Analysts expect the consolidation phase to continue for benchmarks, though the broader markets will witness some correction. According to them, the lack of domestic cues will keep market participation low.
At the start of September, Nifty has shown a strong bullish trend with 13 consecutive higher closes, forming higher highs and higher lows. However, technical indicators like RSI at 70 and Stochastic RSI at 100 suggest the market is in the overbought zone, indicating a potential for a small correction or profit booking from its all-time highs, said Mandar Bhojane, Technical analyst, Choice Broking.
Open Interest (OI) data shows the highest OI on the call side at the 25,500 and 25,700 strike prices and on the put side at the 25,000 strike price. This data, coupled with the overbought conditions, hints at a possible correction in the September series. Investors and traders can hold their positions and trail their stop loss (SL) for potential upside movement, he further said.
According to Osho Krishan, Senior Analyst - Technical & Derivatives, Angel One Ltd, the gravity-defying winning streak of the bulls looks enticing, but the trading range and market breadth certainly showcase exhaustion. Additionally, the technical parameters are very much compliant with over-bought parameters, and hence, a cautious stance with regular profit booking is advisable at the current juncture, he said. “Going forward, it is advisable to take a pragmatic approach and refrain from getting carried away by the Nifty’s winning streak. Maintaining exclusivity while stock selection and staying light on positions is recommended. Furthermore, closely monitoring the global markets, which have significantly impacted our market’s initial tone, is essential,” he added.
Meanwhile, most Asian stocks are up in early deals on Tuesday.
- September 03, 2024 08:43
Stock market live today: Stocks to watchout for on 3 September 2024
HAL: Cabinet Committee on Security approves procurement of 240 aero-engines for IAF’s Su-30 MKI aircraft from HAL worth ₹26,000 crore
Matrimony .com: Company to consider proposal for buy back on September 5
G R Infraprojects: Company to divest 100% equity stake/investment held in unit GE Aligarh Kanpur Highway, co approved acquisition of 100% stake in unit tumkur-ii rez power transmission
Adani Green: Board approved the joint venture agreement subsidiary and Total Energies pursuant to which, Total Energies will make further investment of approx. USD 444 Mn to form a new 50:50 JV to house a 1,150 MWac portfolio.
Welspun Corp: Company’s board approves investment of $100 million by arm Welspun Pipes.
Vedanta: Company declares dividend of Rs 20 per share.
Lemon Tree: Company signs license pact for 80-room hotel in Gir, Gujarat.
CIE Automotive: Company to subscribe up to 27% of equity of IJYA renewables India and invest an amount up to Rs 25.5 million towards subscription of its equity shares
GPT Infra: Company declared lowest bidder for a project worth Rs 204 cr from South East Railways Kolkata.
Maruti: August production at 168,953 vs 165,402 (YoY)
Kanoria Chemicals: Company completed expansion of formaldehyde production capacity at ankleshwar, production of additional capacity of 345 MT per day to start SEPT 6.
Triveni Engineering: Company eyes margin expansion after govt revises ethanol production norms
Muthoot Finance: Company’s Microfinance arm Belstar Microfinance gets SEBI’s approval to launch its IPO
Gensol Engineering: Consortium emerges lowest bidder for green hydrogen project worth ₹164 crore
IEX: Subsidiary has entered into an “issuer agreement” with the International Tracking Standard Foundation and Evident EV Ltd
Bajaj Finance/Finserve: Bajaj Housing FInance sets IPO price band at Rs 66-70/share.
Medi Assist: Bessemer India likely to sell stock worth up to $64 m of Medi Assist at ₹570/sh (7.7% discount to CMP).
Hindustan Composites: Company to buy 1.5 lakh Swiggy shares for Rs 5 crore.
Zee Entertainment: Shiva chinnasamy appointed as chief technology & product officer.
Piramal enterprises: Company approved issue of non-convertible debentures up to Rs 1 billion.
MIRC Electronics: Company approved raising of funds via issuance of shares worth Rs 500 million, Company says raising of funds through right issue basis.
Concord Control: Company approved preferential issue of shares worth up to Rs 500 million
Adani Power: Supreme Court seeks response from Himachal Pradesh on Adani Power’s ₹280 crore refund claim.
RITES: Company received an order from the SGST with a tax demand totalling ₹38.3 crore.
IREDA: Company aims to complete fundraise process within two-three months.
Vodafone Idea: Company receives Rs 73 crore demand orders from GST offices for tax dues, penalties, and interest.
Brigade Enterprises: Company approves floor price of QIP at Rs 1,164.7/share.
Brainbees: Approves further invests Rs 105 crore in Frootle India & Rs 1.05 crore in Wellspire India.
HDFC Bank: Copthall Mauritius Investment offloaded 10.2 lakh shares at Rs 1,636.9 each.
Sterlite Tech: Company settles Singapore dispute with Data Management Centre for $467,400.
NMDC: Production Down 10% At 3.07 mt Vs 3.41 mt (YoY)
MOIL: Company cuts prices of Ferro-Grade Manganese Ores with Manganese content of Mn-44% and above by 20%.
- September 03, 2024 08:42
Stock market live today: Dynacons secures strategic data centre project worth ₹143 cr from Bank of Maharashtra
Dynacons: ORDER
Company secures strategic Data Centre Project worth INR 143 Cr to be completed in 5 years, for Hyper Converged Infrastructure (HCI) Solution for Nakshatra-2, Private Cloud initiative from Bank of Maharashtra. The scope of work includes Supply, Installation and Maintenance of Hyper Converged Infrastructure (HCI) Server and Storage Equipment at Bank’s Data Center (DC), Near DR (NDR) and Disaster Recovery Site (DR) and establishing the private cloud to accommodate new application requirements as well as existing application growth and Implementation & maintenance with 5 years of support.
- September 03, 2024 08:42
Stock market live today: Oriana secures order worth ₹248 cr for 52 MW solar power project in Prayagraj
Oriana: ORDER
Company has received an order worth INR 248 Cr for executing solar power project of capacity 52 MW in Prayagraj, Uttar Pradesh, needs to be completed within 6 months.
- September 03, 2024 08:41
Stock market live today: Premier Roadlines secures ₹5 cr order from defence sector leader
Premier Roadlines: ORDER
Company has received an Order worth INR 5 Cr from a leading Company in Defense Sector for transportation of goods, marking the company’s entry into this critical industry, to be executed in 1 year.
- September 03, 2024 08:40
Stock market live today: Gensol Engineering emerges as L1 bidder for India’s first biomass to green hydrogen project
Gensol Engineering: L1 BIDDER
Company and Matrix Gas & Renewables Limited consortium has emerged as the lowest bidder for EPC of India’s first Biomass to Green Hydrogen project valued at INR 164 Cr, scheduled for completion within 18 months, marks a significant milestone on aligning with the National Green Hydrogen Mission for biomass to green hydrogen generation. In this project, they will convert 25 tons of bio-waste into 1 ton of hydrogen per day. The company has strategically partnered with Westinghouse, USA who has patented technology and has commissioned multiple plants globally. The scope of work includes developing the establishment of a 25 Tons per day (TPD) Bio-waste processing and producing 1 TPD Green Hydrogen Infrastructure from Pre-Gasification Plasma Induced Radiant Energy-Based Gasification System (GH2-PREGS) technology.
- September 03, 2024 08:39
Stock market live today: Concord: Fund raise
BoD approved the issuance of 3.2L equity shares at INR 1,570/share, aggregating to INR 50 Cr. Subscribers include Ashish Kacholia, Asha Mukul Agrawal and Everest Finance and Investment Company.
- September 03, 2024 08:38
Stock market live today: Brigade Enterprises launches QIP at ₹1,164.70 per share
- September 03, 2024 08:37
Stock market live today: Listing of Premier Energies Limited on 3 September, 2024
Symbol: PREMIERENE
Series: Equity “B Group”
BSE Code: 544238
ISIN: INE0BS701011
Face Value: Rs 1/-
Issued Price: Rs 450/- per share
- September 03, 2024 08:11
Stock market live today: Securities in F&O Ban For Trade Date 03-September-2024
* BALRAMCHIN
* HINDCOPPER
- September 03, 2024 08:10
Stock market live today: Economic Calendar – 03.09.2024
19.15 U.S. final Manufacturing PMI (Expected: 48.1 versus Previous: 48.0)
19.30 U.S. ISM Manufacturing PMI (Expected: 47.5 versus Previous: 46.8)
- September 03, 2024 08:10
Stock market live today: MIRC Electronics to raise ₹500 million via rights issue for fundraising
MIRC Electronics: Co approved raising of funds via issuance of shares worth 500m rupees; Co says funds will be raised through a rights issue basis.
- September 03, 2024 08:08
Stock market live today: Kanoria Chemicals completes formaldehyde production capacity expansion at Ankleshwar
Kanoria Chemicals and Industries: Co completed expansion of formaldehyde production capacity at Ankleshwar; production of additional capacity of 345 MT per day to start Sept 6.
It also said, the capacity expansion of hexamine plants at Ankleshwar plant; added 18 MTPD production capacity to existing hexamine plant; expansion cost of 127m rupees at hexamine plant.
- September 03, 2024 08:07
Stock market live today: Concord Control Systems aproves preferential issue of shares worth up to ₹500m.
- September 03, 2024 08:06
Stock market live today: CIE Automotive to invest in Ijya Renewables, source green energy from captive solar power plant
CIE Automotive India: Co to subscribe up to 27% of equity of Ijya Renewables India and invest an amount up to 25.5m rupees towards subscription of its equity shares; Co to source green energy from captive solar power generating plant to be set up by Ijya Renewables.
- September 03, 2024 08:05
Stock market live today: G R Infraprojects divests stake in GR Aligarh Kanpur Highway, acquires Tumkur-II REZ power transmission
G R Infraprojects: Co to divest 100% equity stake/investment held in unit GR Aligarh Kanpur Highway; Co approved acquisition of 100% stake in unit Tumkur-II REZ Power Transmission.
- September 03, 2024 08:04
Stock market live today: Escorts Kubota: NCLT approves amalgamation of Escorts Kubota India, Kubota Agricultural Machinery, Co.
- September 03, 2024 08:03
Stock market live today: Annapurna Swadisht: Co to issue shares to qualified institutional buyers at price of Rs 413.21/shr; fundraise aggregating to Rs 1.5b.
- September 03, 2024 08:03
Stock market live updates: Indostar Capital Finance: Co announces up to 3b rupees public issue of non-convertible debentures.
- September 03, 2024 08:02
Stock market live today: Brainbees Solutions: Co unit Globalbees Brands increases stake in Frootle India and Wellspire India to 74% through investments worth rupees 105.15 cr & 1.05 cr, respectively.
- September 03, 2024 08:02
Stock market live updates: Poonawalla Fincorp: Co approves issuance of secured NCDs up to rupees 425 cr via private placement.
- September 03, 2024 08:01
Stock market live today: Rs 1,620.5 crore penalty on NMDC
- September 03, 2024 08:01
Stock market live updates: NCC wins large order worth Rs 1,236 crore.
- September 03, 2024 08:00
Stock market live updates: SME Bulletin - September, 02 2024
★ Orders and Agreements
1. Atmastco Ltd has secured an order worth ₹3.37 crore from MM Forgings Ltd for critical special equipment, with completion expected by October 2024. #ATMASTCO
2. Premier Roadlines Ltd secured a ₹5 Crore order in the defense sector for transporting goods over a period of 1 year, marking its entry into defense logistics. #PRLIND
3. Slone Infosystems Ltd received an order valued at ₹2.01 Crores plus GST to supply 600 units of Lenovo ThinkCentre Neo 50t to JBA Infosolutions Pvt Ltd, with execution expected within 1-2 working days. #SLONE
4. PARIN FURNITURE LTD has secured multiple contracts from the Ministry of Civil Aviation, Airports Authority of India, totaling ₹1.82 crores for the supply of airport furniture in different states. #PARIN
5. Abhishek Integrations Ltd received an LOA for a ₹178.77 Lacs contract for operation and maintenance services at BARC, Mumbai. #AILIMITED
6. Oriana Power Ltd received an order valued at ₹247.88 Cr for constructing a 52 MW solar power plant in Prayagraj, Uttar Pradesh, for Bharat Petroleum Corporation Ltd. The project will be completed within 6 months. #ORIANA
★ Agreement / MoU / LoI
7. Kataria Industries Ltd received ₹299.07 lakh in Investment Promotion Assistance from Madhya Pradesh Industrial Development Corporation, with the funds allocated for investment in Plant & Machinery. Total assistance of ₹2,093.79 lakh was sanctioned, with ₹873.15 lakh still pending. #KATARIA
★ News / Events / Announcements
8. Aurangabad Distillery Ltd. received a notice from NSE for non-compliance with SEBI rules for the quarter ended June 30, 2024, due to the delayed appointment of a Company Secretary. The fine imposed is ₹63,720. #AURDIS
9. Three M Paper Boards Ltd has completed the installation of a ₹315.40 lakhs Hot Nip Calender for quality improvement and expanded its factory. Additionally, ₹631.83 lakhs of borrowings were prepaid to Kotak Bank. #THREEMPAPE
10. RNFI Services Ltd has received a demand order of ₹17,00,819 from the GST Authority in Delhi, comprising GST, interest, and penalty. The order was issued due to wrongful availment of input tax credit for FY 2019-20. #RNFI
11. V-Marc India Ltd has launched its new Flexi Tough HFFR wires and Eb+ Power Cables with Electron Beam Cross-Linked technology at an event in Lucknow. The launch was attended by over 250 dealers from seven states, marking a significant advancement in cable technology. #VMARCIND
12. Drone Destination Ltd launched an e-commerce Drone Hub platform to provide drones, parts, avionics, and BIS-approved batteries, enhancing supply-chain support and after-sales service for the Indian drone ecosystem. #DRONE
13. Comrade Appliances Ltd reported sales of ₹161.9 million for the period April 2024 to August 2024, reflecting a 61.6% increase from the previous period. The company expects over 200% revenue growth for FY25 and anticipates order inflows exceeding ₹700 million from September 2024 to March 2025. #COMRADE
14. Sunlite Recycling Industries Ltd has issued a statement on a provisional GST order, highlighting its preliminary nature and the company’s plan to appeal. The financial impact is expected to be minimal. #SUNLITE
★ Board Meeting / EGM / AGM
15. ALPEX SOLAR LIMITED scheduled a board meeting on 03-Sep-2024 to consider Fund raising. #ALPEXSOLAR
16. SHARP CHUCKS AND MACHINES LIMITED scheduled a board meeting on 06-Sep-2024 to consider and approve Fund raising/Other business. #SCML
17. Containe Technologies Ltd has scheduled a Board Meeting on 5th September 2024 to explore various fund-raising options such as private placement, rights issue, or qualified institutions placement. The meeting will also address the date and notice for the 16th AGM. #CONTAINE
18. Teerth Gopicon Ltd. approved an increase in authorised share capital from ₹12 crore to ₹50 crore, new borrowing limits, and loans or investments beyond prescribed limits, pending shareholder approval. Other routine business was addressed. #TGL
★ Corporate Action
19. Cell Point (India) Ltd held its Board meeting, where it approved a final dividend of ₹0.25 per share, with a record date of September 19, 2024 and scheduled its 11th AGM for September 27, 2024. Amendments to the Articles of Association were also approved. #CELLPOINT
20. Solex Energy Ltd. will issue bonus shares in the ratio of 1:4, with a record date of September 13, 2024. Shareholders will receive one new share for every four shares they hold, subject to necessary approvals. #SOLEX
21. Annapurna Swadisht Ltd closed its Qualified Institutions Placement of 36,30,000 equity shares, priced at ₹413.21 per share. This price reflects a 5% discount to the floor price of ₹434.96. #ANNAPURNA
22. Concord Control Systems Ltd has approved a preferential issue of 3,18,472 equity shares at ₹1,570 each, totaling ₹50,00,01,040. Notable investor Ashish Kacholia is set to receive 76,433 shares. The issuance requires shareholder approval at the AGM on September 30, 2024. #CNCRD
23. Northern Spirits Ltd has scheduled its 12th Annual General Meeting for September 28, 2024. The record date for dividend is September 21, 2024 and eligible shareholders will receive a dividend of ₹0.25 per equity share (2.5%) for the financial year 2023-2024. #NSL
24. Vivaa Tradecom Ltd. will hold a Board Meeting on 5th September 2024. The agenda includes (1) Approving an alteration to the Object Clause of the Memorandum of Association to reflect the company’s expanded business activities. (2) Evaluating proposals for raising funds through various methods, such as private placement or preferential issues. 3) Alteration of the Capital Clause to increase the company’s Authorised Share Capital. #VIVAA
25. AccelerateBS India Ltd. set 12th September 2024 as the record date for the allotment of 12,89,280 bonus equity shares in a 3:5 ratio, valued at ₹1,28,92,800. The bonus shares will be distributed in a 3:5 ratio at ₹10 per share, as approved in the recent shareholders’ meeting on August 30, 2024. #ACCELERATE
26. Aurangabad Distillery Ltd. announced a ₹2 crore increase in authorised share capital and a 1:4 bonus issue, utilising ₹2.05 crore from reserves. The bonus shares will be credited within two months of shareholder approval. #AURDIS
Analysts/Institutional Investor Meet/Con. Call
1. Phantom Digital Effects Limited will hold a virtual meeting with analysts and institutional investors on September 5, 2024, at 3:30 PM. #PHANTOMFX
2. UniHealth Consultancy Ltd. scheduled an Analyst/Institutional Investor Meeting for 10th September 2024 at 2:00 p.m. in Mumbai, to be conducted virtually. #UNIHEALTH
- September 03, 2024 07:59
Stock market live today: Jio Finance - FII LIMIT INCREASED FROM 17% to 49%
- September 03, 2024 07:59
Stock market live today: Omaxe Group to invest Rs 2,500 cr in its Omaxe State project in Delhi, eyes Rs 4,200-cr topline
- September 03, 2024 07:58
Stock market live updates: Fund Flow Activity: 02 September 2024 (Rs. In Crs.)
Turnover: (NSE + BSE)
Cash Volume: 110146.86 + 8274.16 Total: 118421.02
F&O Volume: 461787.17 + 19201199.26 Total: 19662986.43
Provisional Cash
FII/FPI: NET BUY: +1735.46
(13772.63 - 12037.17)
DII: NET BUY: +356.37
(12538.52 - 12182.15)
- September 03, 2024 07:12
Commodities market updates: Gold eases with spotlight on US economic data
Gold prices slipped in early Asian hours on Tuesday, as investors awaited a slew of U.S. economic data to gauge the size of the Federal Reserve’s expected interest rate cut this month.
FUNDAMENTALS
* Spot gold was down 0.1% at $2,495.79 per ounce, as of 0031 GMT, after hitting a more than one-week low in the previous session.
* U.S. gold futures was little changed at $2,527.70. - Reuters
- September 03, 2024 07:11
Stock market live today: SEBI to implement single corporate filing system across exchanges
SEBI Chief Madhabi Puri Buch said on Monday that there would soon be a mechanism to automatically populate a single filing made by companies onto other exchanges. “If you file disclosure with one exchange, it will automatically go on all exchanges. It is a work in progress,” Buch said at an event organised by the Confederation of Indian Industry.
- September 03, 2024 07:03
Stock recommendations: Broker’s call: Go Digit (Sell)
We recently met Kamesh Goyal (Founder and Chairman), Jasleen Kohli (CEO), and Ravi Khetan (CFO) of Go Digit for an update on the company’s strategy and recent developments in the general insurance sector.
KTAs: Profitable growth remains central to the company’s strategy; the company has adopted an agile and opportunity-based approach to growth, focusing on the not-so-overly competitive segments; it maintains a channel-agnostic stance, with clear aim of not becoming too contingent on, or to have excessive concentration in, any single distributor; and technology and Data Analytics continue to be the key differentiators and enablers of the execution of its agile and opportunity-based strategy, which includes acceleration or deceleration in any product or channel.
- September 03, 2024 07:02
Stock recommendations: Broker’s call: TCS (Buy)
Tata Consultancy Services (TCS) has been consistently delivering resilient performance for past several quarters despite the challenging environment.
TCS has reported a solid performance in Q1, with sequential growth returning in some of the lagging verticals, especially BFSI. Further spends in BFSI towards mitigating the risk associated with legacy systems, strengthening security practices, addressing data governance, and potential rate cut tailwinds augur well for the company. EBIT margin has also seen a steady uptick on a y-o-y basis since the last few quarters.
- September 03, 2024 07:01
Stock market updates: SEBI’s Ashwani Bhatia urges bankers, CAs, and exchanges to exercise caution amid SME IPO boom
SEBI’s whole-time member Ashwani Bhatia, on Monday, urged investment bankers and chartered accountants to give the right advice to small and medium enterprises (SME), that are looking to raise money through initial public offers (IPOs).
“Instead of going straight to an IPO, a better route might be to approach an angel fund or a venture fund first,” said Bhatia, speaking at the CII’s Financing 3.0 Summit.
“Nobody is actually saying no. I am a banker, and we were taught to say no when necessary,” Bhatia added.
- September 03, 2024 06:56
Stock market live today: One in two IPO investors exits within a week of listing: SEBI
Individual investors sold over 50 per cent of shares allotted to them by value within a week of listing, and 70 per cent of shares by value within a year, a regulatory study has found. This has buttressed the fact that investors in initial public offerings (IPOs) are a fickle lot who come in mostly to make quick gains.
- September 03, 2024 06:53
Stock market live updates: Trading guide for September 3, 2024: Intraday supports, resistances for Nifty50 stocks
Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS, and SBI
- September 03, 2024 06:50
Stock market live today: Watch: Today’s stock recommendations: 3 September 2024
The stock idea that we have for you today is Aditya Birla Capital .The stock showing signs of a trend reversal. The price action over the last few weeks indicates that the downtrend that was in place since June has ended. The outlook is now bullish, and the stock has potential to rise more from here.
- September 03, 2024 06:48
Stock market live updates: Stock to buy today: Aditya Birla Capital (₹226.80): BUY
The outlook for Aditya Birla Capital is bullish. The downtrend that was in place since mid-June this year seems to have ended. The price action over the last few weeks signals a trend reversal. Immediate support is around ₹224.
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