Stock Market Live Updates: Sensex, Nifty to open flat despite Reliance’s performance; inflation concerns loom

Domestic markets are likely to open on a flat to positive note despite Reliance Industries’ underwhelming performance. Analysts expect the consolidation phase to continue with stock-specific action during the result season. The inflation numbers are slightly above expectations. Strong numbers by HCL Technologies will help IT stocks, said analysts.

Deepak Jasani, Head of Retail Research at HDFC Securities sharing his views:

U.S. stocks ended higher on Monday, with the Dow Jones Industrial Average and the S&P 500 logging record closing highs as third-quarter earnings season moved into full swing. US stocks hit fresh all-time highs as investors looked ahead to Corporate America for further justification of soft-landing bets. So far, 30 S&P 500 companies have posted results, beating the earnings consensus by about 5% on average, according to Bank of America. 

Crude oil futures ended lower Monday, with Brent prices losing 2% to give back all of last week’s gains and then some, after a weekend announcement by Chinese authorities failed to provide details on a stimulus plan sufficient to reassure investors nervous about crude demand and as concerns eased about Israel attacking Iranian energy facilities. The Organization of the Petroleum Exporting Countries, meanwhile, further trimmed its outlook for growth in oil demand this year and in 2025, also contributing to Monday’s decline in oil prices.

Global sales of fully electric and plug-in hybrid vehicles rose by an annual 30.5% in September, as China surpassed its record numbers recorded in August and Europe resumed growth, market research firm Rho Motion said on Tuesday.

India’s retail inflation rose to above the central bank’s target in September, led by the base effect and rising vegetable price momentum. The Consumer Price Index-based inflation rose to 5.49% in September, compared to 3.65% last month. A Bloomberg poll of economists had pegged the inflation at 5.1% for Sept.

Shares in Asia climbed after another strong performance on Wall Street, with stocks hitting fresh record highs. Japan’s Nikkei share average hit a three-month high on Tuesday amid a broad rise in Asia-Pacific stocks

Nifty rebounded from Friday’s losses and ended on a strong note with Nifty above 25,100 on October 14. At close, Nifty was up 0.66% or 163.7 points at 25127.9. Nifty formed a long bull candle on Oct 14 closing at its highest in 7 sessions. It seems to have made a higher bottom in the short term and is attempting an upside breakout. An upward breach of 25234 could take the Nifty to 25485 while 24920 could offer support in the near term.

Tuesday, 15 October, 2024 (Today)

Derivative Segment

• HDFC AMC Ltd

• HDFC Life Ltd

• PVR INOX Ltd

Cash Segment

• KEI Industries Ltd.

• Bank Of Maha

Wednesday, 16 October, 2024

Derivative Segment

• Bajaj Auto Ltd

• LTTS Ltd

• Mphasis Ltd

Cash Segment

• CRISIL Ltd.

• Himadri Speciality Ltd.

Thursday, 17 October, 2024

Derivative Segment

• Havells Ltd

• Infosys Ltd

• Nestle Ltd

• Polycab Ltd

• Wipro Ltd

• Axis Bank Ltd

• LTIMindtree Ltd

• Tata Comm Ltd

• Tata Chemicals Ltd

Cash Segment

• Ceat Ltd.

• Central Bank Of India

• IOB

• Jindal Stainless Ltd.

• Tanla Ltd.

Friday, 18 October, 2024

Derivative Segment

• ICICI Lombard Ltd

• L&T Fin Ltd

• Oberoi Realty Ltd

• Tata Consumer Ltd

Cash Segment

• Aether Industries Ltd.

• Jindal Saw Ltd.

• JIO Financial Ltd.

• Mastek Ltd.

• Mangalore R&P Ltd.

• Tejas Networks Ltd.

• Zee Ent Ltd.

Saturday, 19 October, 2024

Derivative Segment

• HDFC Ltd

• Tech M Ltd

• Dalmia Bharat Ltd

• Kotak Bank Ltd

• Indiamart Ltd

• MCX Ltd

• RBL Bank Ltd

Cash Segment

• GMDC Ltd.

Monday, 21 October, 2024

Derivative Segment

• UltraTech Ltd

Cash Segment

• Jana SFB Ltd.

• Maha Scooters Ltd.

• 360 One Wam Ltd.

• HFCL Ltd.

• Supreme Petrochem Ltd.

Tuesday, 22 October, 2024

Derivative Segment

• Bajaj Finance Ltd

• Coforge Ltd

• M&M Fin Ltd

• Max Fin Ltd

• Persistent Ltd

• ICICI Pru Ltd

• Indus Towers Ltd

Cash Segment

• Zensar Tech Ltd.

• Jubilant Ingrevia Ltd.

Wednesday, 23 October, 2024

Derivative Segment

• Bajaj Finserv Ltd

• Navin Fluorine Ltd

• Pidilite Ind Ltd

• Syngene Ltd

• Godrej Properties Ltd

• United Spirits Ltd

• AU SFB Ltd

• HINDUNILVR Ltd

Cash Segment

• Bajaj Holdings Ltd.

• KPIT Tech Ltd.

• Nuvoco Vistas Ltd.

• Schaeffler India Ltd.

• Sona BLW Ltd.

Thursday, 24 October, 2024

Derivative Segment

• United Breweries Ltd

• ITC Ltd

• Petronet LNG Ltd

Cash Segment

• Bikaji Foods Ltd.

• Castrol India Ltd.

• CIE Automotive Ltd.

• CSB Bank Ltd.

• Cyient Ltd.

• Nippon AMC Ltd.

• Ujjivan SFB Ltd.

• Westlife Foodworld Ltd

Friday, 25 October, 2024

Derivative Segment

• Atul Limited

• Chola Inv & Fin Ltd

• JSW Steel Ltd

• BEL Ltd

• HPCL

• Torrent Pharma Ltd

Cash Segment

• JM Financial Ltd.

• Mahindra Holidays Ltd.

• Mahindra Lifespace Ltd.

• Poonawalla Fin Ltd.

• UTI AMC Ltd.

• J&K Bank Ltd.

Saturday, 26 October, 2024

Derivative Segment

• ICICI Limited

• IDFC First Ltd

• JK Cement Ltd

Cash Segment

• Yes Bank Ltd.

Monday, 28 October, 2024

Derivative Segment

• Sun Pharma Ltd

• IOC Limited

Cash Segment

• CAMS Ltd.

• Gillette Ltd.

• Lakshmi Machine Ltd.

• Firstsource Solutions Ltd.

• Sumitomo Chemical Ltd.

• Tamilnad Mercantile Ltd.

Tuesday, 29 October, 2024

Derivative Segment

• Cipla Ltd

• Marico Ltd

• Container Corp Ltd

Cash Segment

• Honeywell Auto Ltd.

• Engineers India Ltd.

• Star Health Ltd.

Wednesday, 30 October, 2024

Derivative Segment

• Biocon Ltd

• Dabur Ltd

• Tata Power Ltd

• Aditya Birla Cap Ltd

Cash Segment

• P&G H&H Ltd.

• TTK Prestige Ltd.

Monday, 4 November, 2024

Derivative Segment

• ABB India Ltd

• Exide Ind Ltd

Cash Segment

• Amara Raja Ltd.

• P&G Health Ltd.

Tuesday, 5 November, 2024

Derivative Segment

• Berger Paints (I) Ltd

• Dr. Reddy’s Lab Ltd

Cash Segment

• Alkyl Amines Chemicals Ltd.

Wednesday, 6 November, 2024

Derivative Segment

• Gujarat Gas Ltd

Cash Segment

• Blue Star Ltd.

• Endurance Tech Ltd.

• Kansai Nerolac Ltd.

Thursday, 7 November, 2024

Derivative Segment

• Cummins Ltd

Cash Segment

• Indigo Paints Ltd.

• Akzo Nobel Ltd.

• NHPC Ltd.

• RHI Magnesita Ltd.

Friday, 8 November, 2024

Derivative Segment

• Tata Motors Ltd

Cash Segment

• Esab India Ltd.

• Latent View Ltd.

• Chola Fin Hold Ltd.

• Motherson Sumi Wiring Ltd.

Monday, 11 November, 2024

Derivative Segment

• Hindalco Ltd

• Shree Cement Ltd

Cash Segment

Nil

Tuesday, 12 November, 2024

Derivative Segment

• Bosch Ltd

Cash Segment

• BASF India Ltd.

• Suven Pharma Ltd.

• Medplus Health Ltd.

Thursday, 14 November, 2024

Derivative Segment

• Grasim Ind Ltd

Cash Segment

Nil

Pondy Oxides & Chemicals Ltd

Stock Split From Rs.10/- to Rs.5/-

Previous day Closing Price – Rs. 2155

Ex-Split 16 Oct 2024 (Tomorrow)

Last date for Cum-Split Today

NRB Bearings Ltd

Dividend Per Share Rs.2.5

Previous day Closing Price – Rs. 283

Ex-Dividend 16 Oct 2024 (Tomorrow)

Last date for Cum-Dividend Today

UBS on RK Forging: Initiate Buy on Company, target price at Rs 1500/Sh (Positive) 

HSBC on Maruti: Maintain Buy on Company, target price at Rs 14500/Sh (Positive) 

Nuvama on Reliance: Maintain Buy on Company, target price at Rs 3650/Sh (Positive) 

Systematix on Reliance: Upgrade to Buy on Company, raise target price at Rs 3145/Sh from Rs 3050/Sh (Positive) 

B&K on Neuland Labs: Maintain Buy on Company, raise target price at Rs 20000/Sh (Positive) 

Nuvama on JSW Infra: Initiate Buy on Company, target price at Rs 390/Sh (Positive) 

Citi on Federal Bank: Maintain Buy on Bank, target price at Rs 231/Sh (Positive) 

Jefferies on HDFC Bank: Maintain Buy on Bank, target price at Rs 1890/Sh (Positive) 

Nomura on HCL Tech: Maintain Buy on Company, raise target price at Rs 2000/Sh (Positive) 

Nuvama on HCL Tech: Maintain Buy on Company, raise target price at Rs 2125/Sh (Positive) 

MS on HCL Tech: Maintain Overweight on Company, raise target price at Rs 1970/Sh (Positive) 

Morgan Stanley on CPI Inflation: Food inflation leads to an unexpected upside surprise (Neutral) 

Macquarie on Financials: Several global emerging market fund managers who were underweight on China have significantly increased their weightings. (Neutral) 

Investec on HCLTECH: Maintain Sell on Company, raise target price at Rs 1540/Sh (Neutral) 

Jefferies on HCLTECH: Maintain Sell on Company, raise target price at Rs 1770/Sh (Neutral) 

HSBC on HCLTECH: Maintain Hold on Company, raise target price at Rs 1700/Sh (Neutral) 

Jefferies on Reliance: Maintain Buy on Company, target price at Rs 3400/Sh (Neutral) 

Nomura on Reliance: Maintain Buy on Company, target price at Rs 3450/Sh (Neutral) 

Citi on Reliance: Maintain Neutral on Company, target price at Rs 2900/Sh (Neutral) 

MS on Reliance: Maintain Overweight on Company, target price at Rs 3325/Sh (Neutral)

ABANSENT 

Stock Split From Rs.10/- to Rs.2/-

CGFL 

Stock Split From Rs.10/- to Rs.2/-

INFRATRUST Income Distribution (InvIT)

UnitedHealth Group Incorporated (Pre market) (Sector- Healthcare) (8.4% weight in Dow Jones)

Johnson & Johnson (Pre market) (Sector- Healthcare) (2.49% weight in Dow Jones)

Bank of America Corporation (Pre market) (Sector- Financial) (0.55% weight in S&P500)

Goldman Sachs Group, Inc. (The) (Pre market) (Sector- Financial) (7.74% weight in Dow Jones)

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

PNC Financial Services Group, Inc. (The) (Pre market) (Sector- Financial)

State Street Corporation (Pre market) (Sector- Financial)

Ericsson (Pre market) (Sector- Technology)

Albertsons Companies, Inc. (Pre market) (Sector- FMCG)

Rio Tinto Plc (Post market) (Sector- Metal)

America Movil, S.A.B. de C.V. (Post market) (Sector- Technology)

Omnicom Group Inc. (Post market) (Sector- Media)

United Airlines Holdings, Inc. (Post market) (Sector- Aviation)

J.B. Hunt Transport Services, Inc. (Post market) (Sector- Logistic)

Interactive Brokers Group, Inc. (Post market) (Sector- Financial)

(Rs. In Crs.)

Turnover: (NSE + BSE)

Cash Volume: 91179.11 + 5810.31 Total: 96989.42

F&O Volume: 408251.43 + 11581327.18 Total: 11989578.61

Provisional Cash

FII/FPI: NET SELL: -3731.59 

(9364.16 - 13095.75) 

DII: NET BUY: +2278.09 

(11597.52 - 9319.43)

11:30 U.K. Claimant Count Change (Expected: 20.2k versus Previous: 23.7K)

14:30 EURO Industrial Production (Expected: 1.8% versus Previous: -2.2%)

18:00 U.S. Empire State Manufacturing Index (Expected: 3.4 versus Previous: 11.5)

21:00 U.S. FOMC Member Daly Speaks

Sterling and Wilson: Company receives fresh order worth ₹823 cr (Positive) 

JKumar Infra: Company bags work order worth Rs 297.8 cr from Pune Municipal Corporation (Positive) 

Zydus Lifesciences: Company and ICMR have partnered to initiate Phase 2 clinical trials of Desidustat for Sickle Cell Disease in India (Positive) 

Sunteck Realty: Collections in Q2 FY25 up 24.8% on (YoY), Q2 pre-sales up 32.7% (YoY). (Positive) 

IFGL Refractories: Company has entered into a Joint Venture Agreement with Marvels International Group Co Ltd and Marvel Refractories (Anshan) Company Limited to set up a JV company in India. (Positive) 

Indian Oil: Company and Ever Enviro Resource Management have formed a 50:50 joint venture to promote biofuel adoption in India. (Positive) 

HCL Tech: Net Profit at Rs 4235 cr vs Net Profit Rs 4257 cr (QoQ) , Revenue at Rs 28862 vs Rs 28057 cr. (QoQ) (Positive) 

HEC Infra Projects: Company secures Rs 11.36 Cr project from Ahmedabad Municipal Corporation (Positive) 

Rajoo Engineers: Net Profit at Rs 8 cr vs Net Profit Rs 5.3 cr (YoY) , Revenue at Rs 57 vs Rs 53 cr. (YoY) (Positive) 

International Travel House: Net Profit at Rs 7.4 cr vs Net Profit Rs 5.6 cr (YoY) , Revenue at Rs 61 vs Rs 53 cr. (YoY) (Positive) 

Lyka labs: Company’s patent pending drug Pregabalin Gel 8% w/w for the treatment of diabetic neuropathic pain receives approval from CDSCO. (Positive) 

IRCTC: Company commences Rail Neer production at Vijayawada plant, boosting daily capacity to 18.40 lakh litres (Positive) 

JSW Infrastructure: Company receives LOI for Murbe Port development on PPP model. (Positive) 

Premier Energies: Secures Rs 765 Crore in New Solar Orders. (Positive) 

Thomas Cook: Company has launched Sterling City Centre Bokaro in Jharkhand. (Positive) 

Honeywell: Company wins Airfield Ground Lighting Project for Noida International Airport. (Positive) 

HAL: Department of Public Enterprises: Finance Minister has approved the upgradation of Hindustan Aeronautics to the 14th Maharatna CPSE (Positive) 

Oil downstream stocks: Oil prices corrected by 3 percent as OPEC cuts global oil demand growth forecasts for a third month (Positive) 

Adani Energy: Q2 system availability stands at 99.7%. Increase in project pipeline from Rs 17,000 crore in Q1FY25 to Rs 27,300 crore Q2FY2 (Positive) 

Bharat Forge: India and the US will sign a Rs 34,500 crore deal to acquire MQ9B drones for the armed forces: ET (Positive) 

CESC: Company has entered into a Share Purchase Agreement today for acquisition of 100% share capital of Deshraj Solar Energy Private Limited (Positive) 

Gopal Snacks: Net Profit at Rs 28.8 cr vs Net Profit Rs 27.2 cr (YoY) , Revenue at Rs 299 vs Rs 356 cr YoY. Company declares interim dividend of Rs 1 per share. (Neutral) 

Dr. Reddy’s Laboratories: Company has been named as a defendant in several lawsuits related to the drug Revlimid. (Neutral) 

Indian Overseas Bank: Bank hikes lending rate on overnight & 1-month tenures by 5 bps each (Neutral) 

*HB Portfolio: Company invests Rs 50 Cr in subsidiary Infinix9 Hotels & Resorts to strengthen hospitality business. (Neutral) 

Coal India: Company board to meet on October 25 to consider dividend (Neutral) 

Exxaro Tiles: Company approves sub-division of 1 share into 10. (Neutral) 

TVS Motor: Company to announce Q2FY25 results on October 23 (Neutral) 

BHEL: Company to announce Q2FY25 results on October 28 (Neutral) 

Maruti Suzuki: Company launches Baleno Regal Edition, enhancing comfort and style for the festive season (Neutral) 

DMart: Revenue at Rs 14444 cr versus poll Rs 14206.0 cr. Net profit seen at Rs 660 cr vs poll of Rs 770 cr. (Neutral) 

Brightcom Group: Company to apply for suspension revocation after releasing shareholding, AGM schedule (Neutral) 

Reliance Ind: Net Profit at Rs 16563 crore versus poll Rs 15738 crore, Revenues at Rs 2.35 lakh crore versus poll Rs 2.32 lakh crore. (Neutral) 

IFGL Refractories: Company will hold a 51% share in the JV entity, while 49% stake will be held by MIG. (Neutral) 

Diamond Power: Board of directors will meet on October 18 to consider a proposal to raise funds and stock split. (Neutral) 

IOB: MCLR rates for overnight and one-month tenor have changed from 8.20% and 8.45% to 8.25% and 8.50%, respectively. (Neutral) 

Ola Electric: Company kickstarts festive season on an electrifying note, consolidates market share to 34% in October 2024. (Neutral) 

Can Fin Homes: Company said the board of directors has approved the raising of funds by issuance of Non-convertible Redeemable Debentures. (Neutral)

* CHAMBLFERT

* GNFC

* GRANULES

* HINDCOPPER

* IDFCFIRSTB

* IEX

* MANAPPURAM

* NATIONALUM

* PNB

* RBLBANK

* SAIL

* TATACHEM

September CPI Inflation at 5.49% versus Bloomberg estimate of 5.00%: MOSPI (Inflation seen higher than estimates)

ACCELYA, BAJAJ-AUTO, CRISIL, HSCL,LTTS, MPHASIS, POCL, SOUTHBANK, TIPSMUSIC

BAJAJ-AUTO

* Revenue expected at Rs 13258 crore versus Rs 10519 crore

* EBITDA expected to be seen at Rs 2703 crore versus Rs 2132 crore

* EBITDA margin expected to be seen at 20.38% versus 20.26% 

* Net profit expected to be seen at Rs 2206 crore versus Rs 1836 crore

LTTS 

* Revenue expected at Rs 2566 crore versus Rs 2461 crore

* EBIT expected to be seen at Rs 417 crore versus Rs 383 crore

* EBIT margin expected to be seen at 16.25% versus 15.56% 

* Net profit expected to be seen at Rs 334 crore versus Rs 313 crore

MPHASIS 

* Revenue expected at Rs 3506 crore versus Rs 3422 crore

* EBIT expected to be seen at Rs 533 crore versus Rs 513 crore

* EBIT margin expected to be seen at 15.20% versus 14.99% 

* Net profit expected to be seen at Rs 415 crore versus Rs 404 crore

DBCORP, HDFCAMC, HDFCLIFE, NEWGEN,PVRINOX, RALLIS, SGFIN, STYLAMIND.

HDFCAMC 

* Total Income expected at Rs 971 crore versus Rs 765 crore

* Net profit expected to be seen at Rs 595 crore versus Rs 436 crore

HDFCLIFE 

* APE expected at Rs 3720 crore versus Rs 3040 crore

* EBIT expected to be seen at Rs 622 crore versus Rs 416 crore

* EBIT margin expected to be seen at 3.62% versus 1.80% 

PVRINOX

* Revenue expected at Rs 1571 crore versus Rs 1999 crore

* EBITDA expected to be seen at Rs 455 crore versus Rs 706 crore

* EBITDA margin expected to be seen at 28.96% versus 35.34% 

* Net loss expected to be seen at Rs 4 crore versus profit of Rs 166 crore

(ANGELONE IN, CMP : INR 2,722, Mcap – INR245b)

Result highlights

· Net brokerage income at INR6.9b grew 33% YoY. Revenue from operations at INR9.8b grew by 45% YoY.

· Gross broking revenue at INR9.4b grew by 29% YoY (4% below estimates), driven by continued growth in F&O segment (+23% YoY but 9% below estimates), strong growth in cash segment (+52% YoY – 16% better than estimates) and robust growth momentum in commodity segment (+93% YoY – 39% better than our estimates).

· Net interest income at INR2.8b was in line with our estimates, reflecting growth of 83% YoY led by strong growth in the MTF book.

· 10% beat on other income (+50% YoY) resulted in total income of INR12b which was largely in line with our estimates.

· Total operating expenses grew by 51% YoY (5% lower than our expectations). CI ratio increased YoY to 50.1% vs 48.7% in 2QFY24 (better than expectation of 52.5%)

· PAT at INR4.2b grew by 39% YoY (5% beat on our estimates).

Closing Bell:

* Sensex: 81973.05(+591.69) 

* Nifty 50: 25127.95(+163.70) 

* Nifty bank: 51816.90 (+644.60) 

Nifty top 5 Gainers:

* Wipro: 549.55 (+21.25)

* Tech Mahindra: 1,692.50 (+45.45)

* HDFC Life: 740.60 (+16.75)

* HDFC Bank: 1,688.10 (+37.10)

* Larsen: 3,555.05 (+72.50)

Nifty top 5 losers:

* ONGC: 286.50 (-6.05)

* Maruti Suzuki: 12,537.85 (-238.80)

* Tata Steel: 158.32( -2.34)

* Bajaj Finance: 7,208.80 (-93.2)

* Adani Enterpris: 3,101.10 (-36.10)

Buzzing stocks: Reliance, Sunteck Realty, Transformers & Rectifiers, Atul Auto, Voltas, Blue Star, Lemon Tree, JSW Energy, Can Fin Homes, Trent, HDFC Life, HDFC Asset Management, PVR Inox, Rallis India, DMR Hydro, Gujarat Hotels, Stylam Ind, Sybly Ind

The merger of media assets of Reliance Industries and the India business of global media house the Walt Disney is expected to be complete by the end of the third quarter of this fiscal, according to a regulatory filing by billionaire Mukesh Ambani-led group.

The fair trade regulator CCI has already approved the merger of Viacom 18 and Star India and NCLT (National Company Law Tribunal) has sanctioned the scheme regarding it. - PTI

China may raise an additional 6 trillion yuan ($850 billion) from special treasury bonds over three years to help bolster a sagging economy through expanded fiscal stimulus, Caixin Global reported, citing multiple sources with knowledge of the matter.

The funds will be partly used to help local governments resolve their off-the-books debts, according to the sources, the report said late on Monday.

The reported amount is equivalent to nearly 5% of China’s economic output. - Reuters

Oil prices slid $2 in early Asian trade on Tuesday as OPEC lowered its outlook for global oil demand growth in 2024 and 2025 and a media report that Israel is willing to strike Iranian military and not nuclear or oil targets.

Brent crude futures were down $2.11, or 2.7%, at $75.35 per barrel, while U.S. West Texas Intermediate crude futures fell $2.07, or 2.8%, to $73.76 per barrel as of 0045 GMT. Both benchmarks had settled about 2% lower on Monday.

Israeli Prime Minister Benjamin Netanyahu told the U.S. that Israel is willing to strike Iranian military targets and not nuclear or oil ones, the report said. - Reuters

Gold was flat on Tuesday as investors await fresh insights into the Federal Reserve’s stance on U.S. interest rate reductions for further direction on prices.

Spot gold held its ground at $2,648.89 per ounce by 0022 GMT. U.S. gold futures steadied at $2,665.50. - Reuters

Japan’s Nikkei share average touched a three-month high in early trade on Tuesday, as a strong performance on Wall Street overnight and a weaker yen buoyed investor sentiment.

The Nikkei was up 1.2% at 40,090.35, as of 0013 GMT, while the broader Topix was up 0.9% as Japanese markets reopened after a public holiday on Monday.

Wall Street ended higher on Monday, with both the S&P 500 and the Dow Jones Industrial Average posting fresh record finishes, as investors bought into technology stocks ahead of a busy week packed with corporate earnings and crucial economic data.

Japanese equities were also supported by a softer yen, since a weaker domestic currency tends to boost exporters’ overseas earnings when repatriated. The yen was not far off Monday’s low of 149.98, its lowest level against the dollar since early August.

Heavyweights SoftBank Group Corp, Tokyo Electron , Advantest, Fast Retailing and Toyota Motor were all trading higher. - Reuters

With more than half of Brazil — a key producer of coffee, sugar, corn and soyabean — reeling under drought, prices of the staples are on the rise as are shipping costs. As one the world’s largest crop exporters, any trouble in Brazil will impact food prices globally.

Share prices of major Indian players in the field such as Tata Consumer, ITC, Hindustan Unilever and Adani Wilmar have been under pressure. On the other hand, Patanjali Foods, Agro Tech Foods, Saptarishi Agro Industries and Amber Protein Industries have been on the rise in the last one month. 

Shares of Radhakishan Damani-owned Avenue Supermarts (owners of DMart) slumped 8.48 per cent on Monday following weaker-than-expected results posted by the company. As analysts turned cautious on the stock with some revising the target price downwards, marketmen pressed the sell button on the counter.

The stock tumbled 8.48 per cent to ₹4,184.45 on the BSE and 8.35 per cent to ₹4,191 on the NSE.

Bandhan Bank announced that RBI has approved the appointment of Partha Pratim Sengupta as MD and CEO of the bank for a period of three years. He is expected to take charge before November 10. 

We believe the appointment brings clarity on leadership at Bandhan Bank which in turn removes a critical overhang. Sengupta’s career experience in credit across retail and corporate banking should help Bandhan Bank, where credit performance has been challenging over the past few years.

Bajaj Finance (BAF) operates its business through 1,550-plus urban and over 2,600 rural lending branches, with over two lakh distribution points and caters to a customer base of 8.81 crore as of June 2024.

In Q1FY25, asset under management growth was strong at 31 per cent/7 per cent year on year/quarter on quarter, with growth healthy across segments. With the regulator lifting restrictions on both the digital lending products – ‘eCOM’ and ‘instaEMI’, the company went live offering the products across all platforms in mid-June 2024. The momentum on these products is expected to improve over the next three quarters.

A sharp spike in food prices and an unfavourable base effect pushed retail inflation based on Consumer Price Index (CPI) to a 9-month high of 5.5 per cent in September against 3.7 per cent in August, government reported on Monday. With this, the possibility of policy interest rate cut further faded in the near term,

Experts say after a surprise surge in September, the October print is also estimated to be in 5 per cent plus range.

Reliance Industries reported a 4.8 per cent annual fall in consolidated net profit in Q2 of FY25 at ₹16,563 crore, while revenue growth was flat at ₹2.4 lakh crore, the growth in digital services offset by weakness in petchem as well as subdued consumer demand, that affected retail performance.

On a sequential basis net profit was 9.4 per cent higher and revenue growth flat.

Consolidated EBITDA at ₹43,934 crore saw a 2 per cent decline, dragged down by the O2C business.

Noida-based information technology company, HCL Technologies (HCLTech), on Monday reported a consolidated net profit ₹4,235 crore for the second quarter that ended on September 30. This was up 10.51 per cent year-on-year (YoY) as compared with ₹3,832 crore in the same period, last year.

Consolidated revenue also rose by 8.21 per cent YoY to ₹28,862 crore for the quarter in review, as compared with ₹26,672 crore in the same July-September quarter last financial year.

Government Securities (G-Secs), which are eligible for inclusion in global debt indices, saw first weekly outflow last week after their inclusion late June in JPMorgan Chase & Co’s Government Bond Index-Emerging Markets (GBI-EM) index.

Foreign investors sold ₹1,680 crore ($200 million) of so-called Fully Accessible Route (FAR) bonds last week, said Bloomberg quoting Clearing Corporation of India data.

A total of 38 companies, including Daikin, Voltas and Blue Star, have responded to the third round of re-opening of application windows for production linked incentive (PLI) scheme for white goods with committed investments of ₹4,121 crore for manufacturing varieties of critical components of ACs and LED.

Groww has added over 47 lakh new SIP accounts during the July-September quarter. Out of 66 lakh new SIPs recorded in September by AMFI, Groww added 16 lakh new SIPs, strengthening its market leadership, it said in a statement.

It has now been more than a decade since the Securities and Exchange Board of India (SEBI) flagged off the direct route to investing in mutual funds, which required all schemes to carve out a separate plan where distributor commissions would not be charged to the investor. Direct plans have delivered a good return experience, with annualised returns that are 50-200 basis points higher than regular versions of the same schemes. But with the industry making no special effort to promote the direct route and fee-only advisors (who forego product commissions and collect their fee from the investor) shrinking in number, investor awareness about direct plans remains patchy.

Insurance behemoth Life Insurance Corporation of India (LIC) has maintained its lead in the life insurance sector as of September 30, significantly outpacing private sector competitors in the first-year new business premium collection for April-September 2024.

Here’s an interesting stock idea: The stock idea that we have for you today Kalyan Jewellers. The stock has begun the week on a positive note by surging over 4 per cent on Monday. This indicates that the corrective fall has ended and a new leg of upmove has begun. The outlook is bullish and the share price can go up from here.

Hyundai Motor India on Monday raised ₹8,315.28 crore from anchor investors ahead of the issue opening on Tuesday. In a notice to the exchanges, the Korean automobile major said the IPO committee of the company, in consultation book running lead managers, has finalised allocation of 4.24 crore shares to anchor Investors at ₹1,960 a share — the upper end of the IPO price band ₹1,865-1,960.

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

The outlook is bullish for Kalyan Jewellers India. The stock has begun the week on a positive not by rising over 4 per cent on Monday. This rise marks the end of the short-term correction that was in place since the last week of September. It also indicates that the broader uptrend has resumed.