Stock Market| Share Market Updates - Find here all the updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for 24 Aug 2023.
ALL UPDATES
- August 24, 2023 16:14
Stock market live updates: Aeroflex Industries IPO subscribed over 95 times
Aeroflex Industries IPO has been subscribed 95.91 times as of 3:54 pm on August 24. The QIB portion has been subscribed 194.73 times; NII portion 125.79 times; retail 32.15 times; and reserved portion shareholder at 27.98 times. The issue closes today.
- August 24, 2023 15:52
RailTel Corporation bags order worth ₹27.91 cr from Kerela State Infotech
RailTel Corporation of India Ltd’s shares were up by 0.57 per cent after the company secured an order worth ₹27.91 crore from Kerala State Information Technology Infrastructure Ltd.
The order encompasses the supply, installation, testing, commissioning, and maintenance of ISP Hardware, Software, and licenses for the Kerala Fibre Optic Network (KFON).
The shares were up by 0.55 per cent to ₹168.55 at the end of session on BSE.
- August 24, 2023 15:47
Rupee hits 3-week high as US yields ease
The rupee strengthened to a three-week high on Thursday as a pullback in US Treasury yields helped relieve the recent pressure on Asian currencies, per a
The rupee climbed to 82.3725 to the US dollar, before easing to end at 82.5750, up from 82.6850 in the previous session.
That followed the local unit clocking its strongest single-day gain in two months on Wednesday. Read complete report here.
- August 24, 2023 15:37
Closing Bell: Sensex sheds 180 pts, Nifty ends below 19,400
Equity benchmarks ended in red on Thursday. While BSE Sensex lost 180 pts or 0.28% to end at 65,252, NSE Nifty ended 57 pts or 0.29% lower at 19,386. Jio Financial Services (-5%) remained the top loser among the Nifty50 stocks, while PSU major BPCL gained nearly 2% at the end of trading session.
- August 24, 2023 15:35
Bajaj Hindustan Sugar shares surge 12.59% on strong quarterly results
Bajaj Hindustan Sugar Ltd’s shares were up by 12.59 per cent after the company reported a 66 per cent increase in profit after tax for the quarter that ended June 30, 2023, at ₹74.69 crore compared to ₹44.91 crore during the corresponding quarter last year. Read the complete report.
- August 24, 2023 15:34
Infosys onboards Rafael Nadal as brand ambassador
Infosys onboards tennis icon Rafael Nadal as ambassador for the Brand and Infosys’ Digital Innovation. The stock rises by 1.14% on the NSE, trading at ₹1,424.
- August 24, 2023 15:27
TVS Holdings zooms 5% on NSE
TVS Holdings stock trades at ₹5,095, higher by 4.94% on the NSE.
- August 24, 2023 15:23
TVS Motor gains 0.5% on NSE
TVS Motor stock trades at ₹1,362.05, up by 0.50% on the NSE. The company had launched electric scooter — TVS X — designed and developed to target a new segment of customers – Gen Z and millennials.
- August 24, 2023 15:13
Major gainers on the NSE at 3 pm:
BPCL (1.89%); IndusInd (1.79%); Asian Paints (1.76%); Infosys (1.07%); Ultratech Cement (0.59%)
Major losers: Jio Financial (-4.99%); Reliance (-1.31%); ONGC (-1.28%); Power Grid (-1.22%); JSW Steel (-1.20%)
- August 24, 2023 15:12
Speciality chemicals Q1 performance below expectations: Report
Research report on Speciality Chemicals by Anand Rathi Research Team:
Q1 sector growth, performance: The 8.4 per cent y/y, 7.8 per cent q/q, average drops in chemicals companies’ Q1 revenue was driven by lower volumes and dipping realisations. Though the Q1 performance was expected to be weak, the actual performance was below expectation and a major revenue miss was seen in Ami Organic, Deepak Nitrite, Navin Fluorine, Neogen, Tatva Chintan and Aarti. PI Industries was the only company to report a better-than-expected performance and recorded 18-20 per cent growth in FY24 despite current challenges. The median of speciality chemicals’ Q1 EBITDA margins was 18.1 per cent (19.3 per cent a year back, 18.7 per cent in the prior quarter) due to higher operating expenses on lower utilisation, while the gross margin rose 115bps to 44.8 per cent due to lower raw material prices than last year.
- August 24, 2023 15:05
BSE snapshot at 3 pm
While 1,771 stocks advanced on the BSE at 3 pm on August 24, 1,819 stocks declined. The total stocks traded were 3,750. The number of stocks that recorded a 52-week high was 257, and those that hit a 52-week low was 23.
- August 24, 2023 14:56
Vishnu Prakash R Punglia IPO subscribed 2.43 times
The Vishnu Prakash R Punglia IPO has been subscribed 2.43 times as of 2:48 pm on the opening day. The QIB portion has been subscribed 0.01 times; NII portion 3.48 times; retail 3.40 times; and the portion reserved for employees 1.22 times.
- August 24, 2023 14:51
Aeroflex Industries IPO subscribed 68.62 times
The Aeroflex Industries IPO has been subscribed 68.62 times as of 2:42 pm on August 24. The QIB portion has been subscribed 112.66 times; NII portion 109.49 times; retail 28.97 times; and reserved portion shareholder at 25.19 times. The issue closes today.
- August 24, 2023 14:50
Water & sewerage infra player EMS to launch Rs 320-crore in Sept
EMS Limited to raise Rs 300 crore to Rs 320 crore through its upcoming IPO, subject to regulatory approvals and market conditions. It has completed the pre-IPO placement of 16 lakh shares at Rs 211/share for Rs 33.76 crore. Headquartered in Ghaziabad, the company offers water and sewerage infra solutions, including laying the sewerage network, to building sewerage and water treatment plants in Uttar Pradesh, Bihar, Uttarakhand and Rajasthan. With a net margin of around 20 per cent, the company expects to continue focusing on high-margin integrated projects. The company also undertakes Operations and Maintenance mandates for the projects it has executed.
- August 24, 2023 14:44
Quarterly Flipbook Q1FY24 | Input cost deflation hurts topline but boosts profitability: HDFC Securities
Q1FY24 earnings season saw an overall in-line performance, with wide divergences across sectors and companies. Aggregate revenue/PAT grew by 3%/52% YoY across the HSIE coverage (~219 stocks), with their four-year CAGRs at 12%/22%. Large-cap stocks of the coverage universe dominated incremental earnings, which grew by 55% YoY, while the midcap category grew by 24% YoY. Further, 98% of incremental YoY earnings growth came from only three sectors — auto, energy and lending financials —reflecting heavy lifting by these sectors. Our coverage universe saw strong YoY revenue growth in auto, lending financials, industrials, cement, consumer discretionary and pha…
- August 24, 2023 14:41
Generic drug prescription mandate faces challenges: Fitch Ratings
New government guidelines mandating physicians prescribe only generic drug names face execution challenges and an immediate impact on pharma companies’ profitability in the domestic market is unlikely, says Fitch Ratings.
The domestic pharmaceutical market is mainly a ‘branded generics’ market in which pharma companies sell off-patented drugs under their own brand names at varying price. Branding and marketing activities remain important in pharma companies’ sales strategy, considering less stringent quality and testing standards, other than in regulated markets such as the US.
- August 24, 2023 14:36
Naysaa Securities to surrender broking business, enter real estate development
Naysaa Securities Ltd is to surrender its regular business of broking and commence real estate development and hospitality. The stock trades at ₹163.25, up 0.62 per cent on the BSE.
- August 24, 2023 14:33
Fertiliser sales surge in first four months of current fiscal
Fertiliser sales in the first four months of the current fiscal have surged 5 per cent to 174.37 lakh tonnes, due to a 9 per cent increase in consumption in July, and the fertiliser subsidy, accordingly, has reached Rs 73,214.67 crore, which is 42 per cent of the budget estimate for the entire fiscal.
- August 24, 2023 14:25
SPDR Gold Trust holdings fall
SPDR Gold Trust, the world’s largest gold-backed ETF, said holdings fell 0.5 per cent on Tuesday, sliding back to their lowest levels since mid-January 2020.
- August 24, 2023 14:21
Guar seed: Open fresh short positions
Guar seed futures (continuous contract) on the National Commodity and Derivatives Exchange (NCDEX) has been on a rally for the past two months. It rebounded on the back of the support at ₹5,000 and is now hovering around ₹6,325. It made a high of ₹6,623 this week. Read more
- August 24, 2023 14:10
Share Market Today: Otco International shares dip 9 per cent
Otco International Ltd’s shares were down by 9 per cent after the company reported a 44 per cent decrease in profit for the quarter ended June 30, 2023, at Rs 2.83 lakh, compared to Rs 5.13 lakh in the corresponding quarter last year.
- August 24, 2023 14:09
Share Market Today: Indo US Bio Tech, Chhattisgarh State Seed and Agriculture Development Corporation ink pact for hybrid vegetable seeds; stock drops nearly 10%
Indo US Bio Tech Limited has entered into a Rate Contract (RCO) with Chhattisgarh State Seed and Agriculture Development Corporation Limited for supply of hybrid vegetable seeds. The stock trades at ₹514, down by 9.89%.
- August 24, 2023 14:05
Stock Market Live Today @ 2 pm: Market volatility continues as Sensex and Nifty enter negative territory
In a day of market volatility on Thursday, both the Sensex and Nifty are in negative territory at 2 pm. The NSE Nifty has declined by 20 points to 19,423, while the BSE Sensex has slipped by 64 points to reach 65,368.
Across the board, all sectoral indices are showing positive movement, led by Nifty IT, except for Nifty Healthcare, Nifty Consumer Durables, and Nifty Oil & Gas, which have experienced marginal losses.
Bright spots in the market include aquaculture stocks, which glittered due to China’s decision to halt aquatic product imports from Japan and related regulatory concerns. This development has led to significant gains in Indian aquaculture stocks like Waterbase, Venky’s India, and Apex Frozen Foods.
Furthermore, the aerospace and defence sector has witnessed a surge in stocks following the successful landing of India’s Chandrayaan on the Moon. Companies such as Centum Electronics, MTAR Technologies, Paras Defence, and others have reported noteworthy gains in response to this achievement.
- August 24, 2023 14:04
Stocks to Watch: PNGS Gargi Fashion Jewellery opens store in Pune
PNGS Gargi Fashion Jewellery has opened its new brand store in Pune. The stock trades at ₹210, up by 0.48% on the BSE.
- August 24, 2023 14:03
Kamdhenu Paints extends partnership with Preity Zinta as brand ambassador
Kamdhenu Paints, has extended its association with ace Bollywood celebrity and entrepreneur, Preity G Zinta. Zinta has been associated with Kamdhenu Paints since 2021 and will continue to be the company’s Brand Ambassador.
- August 24, 2023 14:01
Nifty to give 13% returns in next one year
Equity Market Outlook report by Mr. Sujan Hajra, Chief Economist and Executive Director, Anand Rathi Shares and Stock Brokers
Going by the trends over the last 20 years, we do not see a major near-term risk of a large market correction. Even if market corrects in the near-term, equity return over the next 12 months is likely to remain healthy.
The big picture holding up. Macro and corporate fundamentals and supporting liquidity suggest strong outlook for the Indian equities. With likely earnings improvement, valuation concerns to ebb. We expect 11 to 13% Nifty 50 return in the next 12 months.
- August 24, 2023 13:44
Vishnu Prakash R Punglia IPO subscription details at 1.24 pm
Vishnu Prakash R Punglia IPO has been subscribed 1.93 times as of 1:24 pm on the opening day. The NII portion has been subscribed 2.77 times; retail 2.70 times; and those reserved for employees are 0.83 times.
- August 24, 2023 13:44
Aeroflex Industries IPO subscription details at 1.24 pm
Aeroflex Industries IPO has been subscribed 45.93 times as of 1:24 pm on August 24. The QIB portion has been subscribed 45.54 times; NII portion 93.57 times; retail 26.74 times; and reserved portion shareholder at 22.59 times. The issue closes today
- August 24, 2023 13:43
PVP Ventures to acquire 100% stake in Humain Healthtech
The board of PVP Ventures has approved acquisition of 100% stake of Humain Healthtech Pvt Ltd.
- August 24, 2023 13:41
Stock Market Live Today: Sectoral trend: Booming real estate sector: Realty stocks surge, Nifty Realty Index up 43%
The real estate sector is booming, and realty stocks are reaping the benefits, with shares of majority of the stocks rising 27-95 per cent over the last six months to date, the Nifty Realty index has surged over 43 per cent in that time.
The highest gainer over the 180 days under review is Macrotech Developers (Lodha), whose shares have nearly doubled.
- August 24, 2023 13:10
Share Market Today: Top Nifty stocks that hit a 52-week high
Kopran (17.19%)
S Chand (15.87%)
Prakash Industries (12.19%)
Bajaj Hindustan Sugar (11.62%)
Centum Electronics (11.36%)
- August 24, 2023 13:03
Stock in Focus: Jindal Stainless supplies alloy steel grade for Chandrayaan-3 motor casing; stock trades flat
Jindal Stainless has developed and supplied a high strength alloy steel grade that has been used in the motor casing of India’s third lunar mission, the Chandrayaan-3. The stock trades at ₹431, down by 0.07% on the NSE.
- August 24, 2023 13:01
Share Market Today: Centum Electronics stock surges by 11.23% on the NSE, trading at ₹1,828.
- August 24, 2023 13:01
Stock in Focus: RailTel receives ₹27.91 crore order for Kerala fibre optic network project; stock gains over 1%
RailTel Corporation of India Ltd has received work order from Kerala State Information Technology Infrastructure Ltd. for supply, installation, testing, commissioning and maintenance of ISP Hardware, Software and License for Kerala Fibre Optic Network (KFON), amounting to ₹27.91 crore.
The stock rises by 1.56% on the NSE, trading at ₹169.65.
- August 24, 2023 12:51
Tata Power and Zoomcar partner to boost electric vehicle adoption
Tata Power EV Charging Solutions Limited (TPEVCSL), a Tata Power group Company and Zoomcar, a marketplace for car sharing, have entered into a Memorandum of Understanding (MoU) to promote widespread electric vehicle adoption and deliver a seamless, user-friendly charging experience to EV users. Tata Power stock rises by 2.48% on the NSE, trading at ₹251.70.
- August 24, 2023 12:49
Share Market Today: Communication-Platform-as-a-Servive firm Tanla shares down by 3.22 pc to trade at Rs 999.
- August 24, 2023 12:44
Brightcom shares drop 5% as founder-CMD Suresh Reddy faces SEBI restrictions
Brightcom, whose Founder-CMD Suresh Reddy was restrained by the SEBI from accessing the market, sheds 5 per cent. Shares trading at Rs 21.84.
- August 24, 2023 12:39
RBI raises offline payment transaction limit to ₹500, online replenishment required for exceeding ₹2,000
The Reserve Bank of India has increased the upper limit of an offline payment transaction to ₹500 from ₹200.
However, the total limit for offline transactions on a payment instrument shall continue to be ₹2,000 at any point in time.
Replenishment of used limit shall be allowed only in online mode with AFA (additional factor authentication).
The issuer shall send transaction alerts to users as soon as transaction details are received. There is no compulsion to send alert for each transaction; however, details of each transaction shall be adequately conveyed.
The acquirer shall incur all liabilities arising out of technical or transaction security issues at merchant’s end.
Offline payments are covered under the provisions of RBI’s limited customer liability circulars (as amended from time to time).
- August 24, 2023 12:35
Stock in Focus: Drone Destination inks MoU with Paras Aerospace, shares surge 5%
Drone Destination has informed the exchanges that it has signed a MOU with Paras Aerospace Pvt Ltd.
Shares of Drone Destination surged 5 per cent at NSE Emerge to Rs 129.70.
- August 24, 2023 12:34
Nifty today: Major gainers, losers at 12.29 pm
Major gainers on the NSE at 12:29 pm:
Adani Enterprises (2.06%); BPCL (1.86%); IndusInd (1.78%); Asian Paints (1.41%); Infosys (0.89%)
Major losers: Jio Financial (-4.99%); Hindalco (-1.27%); Divi’s Laboratories (-1.15%); LTI
(-0.95%); ONGC (-0.85%)
- August 24, 2023 12:31
Nifty Today: Major gainers, losers at noon
Major gainers on the NSE at noon
Adani Enterprises (2.50%); IndusInd (1.80%); Asian Paints (1.51%); BPCL (1.38%); Infosys (0.88%)
Major losers: Jio Financial (-4.99%); Divi’s Laboratories (-1.17%); Hindalco (-1.04%); ONGC (-0.80%); M&M (-0.75%)
- August 24, 2023 12:30
Vishnu Prakash R Punglia IPO subscription details at noon
Vishnu Prakash R Punglia IPO has been subscribed 1.24 times as of 12:06 pm on the opening day. The NII portion has been subscribed 1.49 times; retail 1.85 times; and those reserved for employees are 0.49 times.
- August 24, 2023 12:30
Aeroflex Industries IPO subscription details at noon
Aeroflex Industries IPO has been subscribed 31.48times as of 12:03 pm on August 24. The QIB portion has been subscribed 9.91 times; NII portion 76.94 times; retail 24.43 times; and reserved portion shareholder at 15.88 times. The issue closes today.
- August 24, 2023 12:29
Vascon Engineers stock up 3.83% on securing Rs 605 cr order
Vascon Engineers stock rises by 3.83% on the NSE, trading at ₹62.40. The company had bagged an order worth ₹605.65 crore from Bihar Medical Services & Infrastructure Corporation Limited.
- August 24, 2023 12:28
Sensex today: Advance-decline ratio at noon
Stocks advanced on BSE at 12 noon on August 24 were 2,015 against 1,444 stocks that declined. Total stocks traded were 3,605. The number of stocks that recorded a 52-week high was 231, and those that hit a 52-week low was 22.
- August 24, 2023 12:27
Share Market Today: IRCTC stock rises by 1.19% on the NSE, trading at ₹657.40.
- August 24, 2023 12:09
Stock Market Live Today: Mid-day update: Indian equities trade range-bound as aerospace and defence stocks surge
Indian equities maintain a narrow trading range mid-day on Thursday, with BSE Sensex up 51 points at 65,484 and NSE Nifty advancing by 11 points to 19,455. Aerospace and defence sector shares surge due to Chandrayaan’s success, with notable gains in companies like Centum Electronics and MTAR Technologies. The BSE shows a balance between gainers and decliners, with 2,018 shares trading in the green and 1,447 shares in the red.
- August 24, 2023 12:02
Share Market Today: Chandrayaan-3 effect: Stocks related to defence, aerospace sectors soar
Shares of companies with businesses related to the aerospace and defence sectors rose on Thursday, a day after India’s Chandrayaan made a successful landing on the Moon’s south pole.
- August 24, 2023 11:49
Aquaculture stocks surge: Waterbase Ltd, Venky’s India, and Apex Frozen Foods rise on China’s import suspension
India aquaculture stocks such as Waterbase Ltd, Venky’s India, and Apex Frozen Foods jumped sharply in news that China has suspended aquatic imports from Japan
- August 24, 2023 11:47
Infosys Foundation announce awards for eight winners in social innovation space
Infosys Foundation, the philanthropic and CSR arm of the IT major, had announced awards for eight winners in the social innovation space. The Aarohan Social Innovation Awards had three winners across the healthcare, education, and women empowerment areas, with each winning ₹50 lakh. Five others own the jury’s special award, with each gaining ₹10 lakh.
The stock trades at ₹1,418.60, up by 0.76% on the NSE.
- August 24, 2023 11:41
Godrej Industries clarifies Godrej Aerospace’s status amid Chandrayaan
Godrej Industries: Company states that Godrej Aerospace is not an arm of the company. #Chandrayaan
- August 24, 2023 11:36
Stock in Focus: Gland Pharma’s Dundigal facility receives USFDA EIR, stock up
Gland Pharma informed the exchange that the company’s Dundigal facility at Hyderabad has received Establishment Inspection Report (EIR) from the USFDA indicating closure of the inspection.
The stock trades at ₹1,589.25, up by 0.51%.
- August 24, 2023 11:34
Share Market Today: Zydus Lifesciences gets USFDA nod for zinc sulfate injections, stock rises
Zydus Lifesciences has received final approval from the USFDA for Zinc Sulfate Injection USP, 10 mg/10 mL (1 mg/mL), 30 mg/10 mL (3 mg/mL), and 25 mg/5 mL (5 mg/mL) Pharmacy Bulk Package Vials. The stock trades at ₹648.10, up by 0.43% on the NSE.
- August 24, 2023 11:32
Stock Market Live Today: US treasury yields decline, Dollar index slides ahead of Jackson Hole Symposium
The US Treasury yields have declined sharply on Wednesday. The 10Yr yield has come down from around 4.32 per cent and is currently trading at 4.2 per cent. That has dragged the dollar index from the high of 103.98 to 103.35 now.
All eyes are now on the Jackson Hole Economic Symposium that will begin today. Market will be closely watching the US Federal Reserve Chairman, Jerome Powell’s speech on Friday.
Powell’s speech will begin at 10:05 AM ET (07:35 PM IST) on Friday (August 25).
- August 24, 2023 11:29
Nifty prediction today — August 24, 2023: Go long on dips
Nifty 50 and Sensex have risen sharply today. Both indices are up about 0.6 per cent each. Sensex is trading at 65,823 and Nifty is at 19,558.
The rise above 19,500 on the Nifty is a positive. As long as the index sustains above 19,500, it has a good chance to rise to 19,650-19,700 in the coming sessions.
- August 24, 2023 11:28
Stock Market Live Today: Booster shot. Shipping Ministry mulls ₹11,000-crore PLI scheme for standard container making
The Ministry of Ports, Shipping and Waterways is mulling an ₹11,000-crore PLI scheme, spread over a nine-year period, for manufacture of shipping containers. The scheme will look to push the country as a shipping container manufacturing hub, competing with the likes of China, and look at garnering at least 10 per cent demand from global liners.
- August 24, 2023 11:16
Prabhudas Lilladher view on TVS X launch
“The product has several segment first features and is positioned as a premium offering when compared to the current EV scooter market in India, it will most likely be focused on the global side to gain traction. TVS could use its strong presence in the global market and also leverage its recent acquisition in the Europe region to showcase the product. Given its premium features and positioning, it’s intended for a niche market segment and we don’t expect the model to garner huge volumes. We expect TVS to launch more dedicated EV products focusing on the lower price points to compete against new lower price point launches by peers in the space. The stock trades at c27x PE FY25E we have an Accumulate rating on the stock.”
- August 24, 2023 11:08
Aeroflex Industries IPO subscription details at 11 am
Aeroflex Industries IPO has been subscribed 26.46 times as of 11 am on August 24. The QIB portion has been subscribed 8.22 times; NII portion 61.72 times; retail 21.88 times; and reserved portion shareholder at 13.28 times. The issue closes today.
- August 24, 2023 11:06
Commodities Market: Mixed moves in spices on NCDEX: Coriander and cumin rise, turmeric slightly down
On NCDEX, the spices complex was mixed with dhaniya (coriander) and jeera (cumin) gaining but turmeric slipped a tad. At 11 am, dhaniya October contracts were up by ₹28 at ₹7,480 a quintal. Jeera October futures gained ₹475 at ₹58,775 a quintal. Turmeric October futures dropped by ₹10 to ₹16,160 a quintal.
- August 24, 2023 11:05
Sensex today: Major gainers/losers at 11 am
Major gainers on the BSE at 11 am:
Bajaj Hindustan Sugar (12.77%); GMR Infra (10.30%); Thirumalai Chemicals (10.25%); PARAS (8.56%); Titagarh (8.39%)
Major losers: PGHL (-4.02%); Rainbow (-3.94%); Linde India (-3.04%); Alok Textiles (-2.93%); Tanla Platforms (-2.66%)
- August 24, 2023 11:05
Commodities market: Gold and Silver futures decline on MCX: Gold at ₹58,779 and Silver at ₹73,830
On MCX, gold October futures slid ₹40 to 58,779 per 10 gm. Silver September contracts declined by ₹174 to ₹73,830 a kg.
- August 24, 2023 11:04
Commodities Market: Gold rebounds near $1,920 on rate hike hopes, silver surges amid currency protection
Gold has recovered from a five-week low and is currently ruling firm around $1,920 on hopes that banks will stop hiking rates to avoid recession. In Asian trade, gold was quoted at $1,920.74 an ounce. Silver gained four per cent at $24.29 an ounce as traders indulged in short-covering as China stepped in to protect its currency.
- August 24, 2023 11:02
US FDA issues Establishment Inspection Report for Torrent Pharmaceuticals’ Dahej facility; shares trade 1.89% higher on NSE
Torrent Pharmaceuticals Ltd has announced that the US FDA has issued an Establishment Inspection Report (EIR) for the company’s manufacturing facility at Dahej, Gujarat. Inspection outcome, the Dahej facility was placed under “Official Action Indicated (OAI)” by the US FDA.
The company said in its regulatory filing, “the drug regulator had conducted re-inspection of the site in May 2023 from 17-May-23 to 25-May-23 and issued Form 483 with 2 observations. The updated classification of site is VAI (voluntary action indicated) which indicates that Torrent will start to get approval of filed ANDAs.”
The stock trades at ₹1,975.10, higher by 1.89% on the NSE.
- August 24, 2023 11:00
Share Market Today: Suzlon sins 31.5 MW wind power project order from Integrum Energy; shares trade in green
Suzlon Group has secured a new order for the development of a 31.5 MW wind power project for Integrum Energy Infrastructure Private Limited.
The company will install 15 units of their S120 – 140m wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 2.1 MW each in Maharashtra and Karnataka. The project is expected to be commissioned in May 2024.
The stock trades at ₹22.15, up by 1.37% on the NSE.
- August 24, 2023 10:55
Bank Nifty prediction today – August 24, 2023: Stay cautious; buy only if the price moderates
Bank Nifty gained 1.1 per cent yesterday which led to the breakout of a range within which it had been trading over the past week. After closing at 44,479 yesterday, the index, consisting of major bank stocks, opened today’s session with a gap-up at 44,704. It rallied post open and is now hovering around 44,860, up 0.9 per cent after the initial hour of trade.
- August 24, 2023 10:54
Universal Autofoundry shares surge nearly 20% on Q1 results
Universal Autofoundry Ltd’s shares were up by 19.98 per cent after the company reported a 6.28 per cent increase in profit for the quarter ended June 30, 2023, at Rs 3.55 crore, compared to Rs 3.34 crore during the corresponding quarter last year.
- August 24, 2023 10:52
Share Market Today: RBL Bank stock rises by 1.74% on the NSE, trading at ₹234.20. Reports show that 1.7% of its equity changed hands in three large trades.
- August 24, 2023 10:47
Stocks to Watch: Dhabriya Polywood’s subsidiary bags ₹6.60 crore work order from DLF Group
The wholly-owned subsidiary of Dhabriya Polywood Ltd, Dynasty Modular Furnitures Pvt. Ltd. has received work order from DLF Group for supply & installation of modular kitchen, wardrobe, vanity and medicine cabinet for ₹6.60 crore.
- August 24, 2023 10:45
Stock in Focus: Sandhar Technologies’ arm launches new manufacturing plant, stock surges 7.08%
Sandhar Technologies Limited informed the exchange that its wholly owned subsidiary, Sandhar Engineering Private Limited, has commissioned a state of art Manufacturing Plant at Mysore (Karnataka). Commercial production is underway and expected to go into mass production by the beginning of October 2023. The stock surges by 7.08% on the NSE, trading at ₹403.80.
- August 24, 2023 10:38
Muthoot Fincorp launches all-in-one app Muthoot FinCorp ONE
Muthoot Fincorp Ltd has launched all-in-one app for financial services called ‘Muthoot FinCorp ONE’.
- August 24, 2023 10:34
Share Market Today: Gujarat Ambuja Exports gets pollution control board nod for Corn Wet Milling Plant; shares gain nearly 4%
Gujarat Ambuja Exports has received a Consent to Establish (NOC) from the Gujarat Pollution Control Board for setting up a 900 TPD Greenfield Corn Wet Milling Plant at Himmatnagar, Gujarat. The GAEL stock has risen by 3.99 per cent on the NSE, trading at ₹255.15.
- August 24, 2023 10:32
Frank Klinkert, Managing Director of Luxlite Lamp S.a.r.l., to step down
Suprajit Engineering Ltd informed the exchange that Phoenix Lamps Division, Frank Klinkert, Managing Director of Luxlite Lamp S.a.r.l. has decided to step down with effect from August 31, 2023. Saliha Krich, who currently heads Sales and Marketing of Luxlite Lamp S.a.r.l., will be the MD with effect from September 1, 2023.
The stock trades at ₹386.20, down by 0.68% on the NSE.
- August 24, 2023 10:29
Stock in focus: Keynote Financial Services shares up by 18.48 per cent
Keynote Financial Services Ltd.’s shares were up by 18.48 per cent after the company reported a 97.25 per cent increase in profit for the quarter ended June 30, 2023, at Rs 6.41 crore compared to Rs 3.25 crore during the corresponding quarter last year.
The company’s revenues were up by 85.69 per cent to Rs 29.99 lakh compared to Rs 16.15 lakh last year. Sequentially, the company’s profits were higher by 104 per cent compared to Rs 3.13 crore in the previous quarter.
The shares were up by 18.48 per cent to Rs 136 at 09.52 am on the BSE.
- August 24, 2023 10:19
Manappuram Finance stock declines by 1.16 per cent on the NSE
Manappuram Finance stock declines by 1.16 per cent on the NSE, trading at ₹143.75 after 11 per cent of the company’s equity changed hands in a block deal, according to reports.
- August 24, 2023 10:05
Stocks to Watch: LIC Housing Finance to raise ₹525 crore through reissue of 6.25% bonds
LIC Housing Finance plans to raise at least 5.25 billion rupees ($63.7 million) through a reissue of 6.25% June 2025 bonds, three merchant bankers said on Thursday. It had invited bids from bankers and investors on Friday. - Reuters
- August 24, 2023 10:04
Share Market Today: Jio Financial Services continues to tumble, hits lower circuit for fourth consecutive day
Jio Financial Services opens 5% lower, hits lower circuit for 4th day in a row, after listing on exchanges, as index funds continue to offload the shares
- August 24, 2023 10:02
Stock in Focus: Universal Autofoundry Shares surge 19.98% on 6.28% rise in quarterly profit
Universal Autofoundry Ltd’s shares were up by 19.98 per cent after the company reported a 6.28 per cent increase in profit for the quarter ended June 30, 2023, at Rs 3.55 crore, compared to Rs 3.34 crore during the corresponding quarter last year.
The company’s Revenues were down by 5.91 per cent at Rs 57.55 crore, compared to Rs 61.17 crore last year. Sequentially, the company’s profits were higher by 132 per cent, compared to Rs 1.53 crore in the previous quarter.
- August 24, 2023 10:00
Share Market Today: Brightcom Group locked in 5% lower circuit for second day in a row after SEBI action
- August 24, 2023 10:00
Share Market Today: According to market sources, there has been a 4.97% equity change in SapphireFoods in three large trades.
- August 24, 2023 09:56
Share Market Today: IRFC stock surges by 5.03% on the NSE, trading at ₹50.15
- August 24, 2023 09:51
Rattan India appoints Ashok Kumar as CFO
The Board of Rattan India has approved the appointment of Ashok Kumar as CFO
- August 24, 2023 09:50
Share Market Today: IPCA Laboratories stock gains by 3.78% on the NSE, trading at ₹910.20.
- August 24, 2023 09:50
Share Market Today: Vedanta’s Anil Agarwal pledges to pay Zambia creditors before retaking mine
- August 24, 2023 09:49
Share Market Today: Basant Traders bought one lakh shares of Gensol Engineering at Rs 1,750 per share
- August 24, 2023 09:49
Stocks to Watch: IndiGo to restart New Delhi-Hong Kong flights from October 5
- August 24, 2023 09:48
Stocks to Watch: NHPC inks MoU with Andhra Pradesh Power Generation for pumped storage hydropower
NHPC has signed a MoU with Andhra Pradesh Power Generation Corporation for the implementation of pumped storage hydropower projects
- August 24, 2023 09:47
Stocks to Watch: Vascon Engineers bags Rs 606 crore contract from Bihar Medical Services
Vascon Engineers has received a Letter of Acceptance amounting to Rs 606 crore from Bihar Medical Services
- August 24, 2023 09:46
Stocks to Watch: US FDA approves JB Pharma’s drug
USFDA has approved JB Pharma’s Abbreviated New Drug Application (ANDA) for Doxepin Hydrochloride Capsules
- August 24, 2023 09:45
Share Market Today: ManappuramFinance has 11% equity change hands in five large trades: market sources
- August 24, 2023 09:44
Nifty Today: Major gainers/losers at 9.30 am
Major gainers on the NSE at 9:30 am:
Adani Enterprises (1.62%); LT (1.34%); Tech Mahindra (1.21%); Bajaj Finserv (1.19%); Power Grid (1%)
Major losers: Jio Financial (-4.99%); Eicher Motors (0.08%)
- August 24, 2023 09:42
Share Market Live Today: Coforge launches Coforge Quasar: AI platform for enterprise AI capabilities, shares rise over 1.5% on NSE
Coforge Ltd, a global digital services and solutions provider, has launched Coforge Quasar, a generative AI platform designed to build enterprise AI capabilities. The company said in its regulatory filing, “Coforge Quasar comes pre-loaded with a comprehensive set of 100+ APIs. The platform operates on a fully governed framework, incorporating Process Governance, API Governance, and Model Governance (MLOps) within its foundation. Enterprises can choose a cloud-based setup or an on-premise set-up with enhanced security and controls.”
The stock trades at ₹4,987.85, higher by 1.52% on the NSE.
- August 24, 2023 09:41
Commodity Market Live Today: Crude oil futures decline on weak business activity data, demand concerns
Crude oil futures traded lower on Thursday morning as the data on business activities in some of the major economies were below the market expectations, leading to concerns over the demand for fuel in those economies. At 9.23 am on Thursday, October Brent oil futures were at $82.94, down by 0.32 per cent; and October crude oil futures on WTI (West Texas Intermediate) were at $78.56, down by 0.42 per cent. September crude oil futures were trading at ₹6490 on Multi Commodity Exchange (MCX) in the initial trading hour of Thursday morning against the previous close of ₹6555, down by 0.99 per cent; and October futures were trading at ₹6482 as against the previous close of ₹6549, down by 1.02 per cent.
- August 24, 2023 09:39
Stock Market Live Today: Positive market sentiments strengthen with US soft landing and Chandrayaan 3 success
“The near-term market outlook has turned distinctly positive with the US economy’s soft landing narrative lifting sentiments globally and Chandrayaan 3 ‘s successful soft landing on the moon boosting sentiments in India. Weakening US economic data, particularly the decline in US manufacturing PMI from 49 to 47 has led to sharp decline in the US 10-year bond yield by 14 bp to 4.19%. This might turn the short-term cycle of capital flows again in favour of EMs like India. The sudden reversal in the declining trend of INR also is indicative of this shift in global macros favouring India in the near-term.
However, investors should remember that sentiments are transient and the medium to long-term trajectory of the market will be driven by economic growth and corporate earnings. So watch out for the big data.
The recovery in Bank Nifty, which is driven by fundamentals and fair valuations, augurs well for the Nifty.” -- Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
- August 24, 2023 09:38
Share Market Live Today: CoForge 1.5 crore shares worth over Rs 7,300 crore changed hands
- August 24, 2023 09:38
Share Market Live Today: Max Financial witnessed block deal worth 12.5 lakh shares
- August 24, 2023 09:37
IPCA Laboratories receives 3 observations from US FDA at Piparia facility
IPCA Laboratories informed the exchange that the US FDA inspection of our Piparia (Silvassa) formulations manufacturing facility resulted in 3 observations under USFDA Form 483. The company said in a regulatory filing, “Based on the inspection, this facility is considered to be in a minimally acceptable state of compliance with regards to current good manufacturing practice (CGMP).”
- August 24, 2023 09:34
Share Market Live Today: Chandrayaan effect: Paras Defence shares jump 15% on BSE
Paras Defence and Space Technologies Ltd jumped 15 per cent in early deal on Thursday on the BSE; shares ruling over Rs 823
- August 24, 2023 09:33
Piramal Enterprisess buyback Record Date Tomorrow
Route – Tender\u0009\u0009
Buyback Price: 1250 /-\u0009\u0009
Current Market Price: 1078 /-\u0009\u0009
Buyback Size: ₹ 1750. Crs\u0009\u0009
Buyback Size: 1,40,00,000 shares (representing 5.87 % of O/s. shares)\u0009
Retail Quota: 21,00,000 Shares
\u0009
Last Cum Trading Date – 24 August 2023 (Today)
Ex-Date – 25 August 2023
Buyback Record Date: 25 August 2023
Tender Period: Not Yet Announced (The tendering period of the Buyback will be open for a period of 5 working days in accordance with the Buyback Regulations.)
- August 24, 2023 09:32
Share Market Live Today: KRBL Ltd. Buyback Record Date Tomorrow
Route – Tender\u0009\u0009
Buyback Price: 500/-\u0009\u0009
Current Market Price: 413/-\u0009\u0009
Buyback Size: ₹325 Crs\u0009\u0009
Buyback Size: 65,00,000 shares (representing 2.76 % of O/s. shares)\u0009
Retail Quota: 9,75,000 Shares\u0009
Last Cum Trading Date – 24 August 2023 (Today)
Ex-Date – 25 August 2023
Buyback Record Date: 25 August 2023
Dividend of Re 1
Dividend Record Date: 25 August 2023
Buyback Tender Period: Not Yet Announced
- August 24, 2023 09:32
Share Market Live Today: FDC Ltd. - Buyback_Record Date Tomorrow
Route – Tender\u0009\u0009
Buyback Price: 500/-\u0009\u0009
Current Market Price: 392/-\u0009\u0009
Buyback Size: ₹155 Crs\u0009\u0009
Buyback Size: 31,00,000 shares (representing 1.87 % of O/s. shares)\u0009
Retail Quota: 4,65,000 Shares\u0009
Last Cum Trading Date – 24 August 2023 (Today)
Ex-Date – 25 August 2023
Buyback Record Date: 25 August 2023
Tender Period: Not Yet Announced
- August 24, 2023 09:31
IndiaMART InterMESH. buyback record date tomorrow
IndiaMART InterMESH
Route – Tender\u0009\u0009
Buyback Price: 4000 /-\u0009\u0009
Current Market Price: 3111.50/-\u0009\u0009
Buyback Size: ₹500 Crs\u0009\u0009
Buyback Size: 25,00,000 shares (representing 2.04% of O/s. shares)\u0009
Retail Quota: 1,87,500 Shares\u0009
Last cum trading date: 24 August 2023 (Today)
Ex-Date: 25 August 2023\u0009
Record Date: 25 August 2023
Tender Period: Not Yet Announced
- August 24, 2023 09:30
KLM Axiva Finvest NCD issue begins: Rs 75 crore offering with attractive oversubscription option
The Rs 75-crore NCD issue of KLM Axiva Finvest Ltd opens today. The company will issue 7.5 lakh NCDs of Rs 1,000 each, aggregating up to Rs 75 crore (Base issue) with an option to retain oversubscription of another Rs 75 crore, aggregating up to Rs 150 crore. The issue has been rated as IND BBB-/Stable by India Ratings & Research Private Limited. The Issue closes on September 6.
- August 24, 2023 09:27
CreditAccess Grameen NCD issue opens: Secure and attractive offering with up to 9.70% coupon rate
CreditAccess Grameen Limited NCD Issue opens today. Secured Rated Listed Redeemable Non-Convertible Debentures of Face Value of Rs.1000 each NCDs, for an amount of Rs 400 crore with an option to retain oversubscription up to Rs 600 crore aggregating up to Rs 1,000 crore, which is within the Shelf Limit of Rs 1,500 crore.
The coupon rate is up to 9.70% p.a. with effective yield up to 10.13% p.a., the company said in its filing to the exchanges. The issue ends on September 6. The NCD issue which will be listed on the BSE and NSE has a rating of IND AA-/Stable.
- August 24, 2023 09:25
Stock Market Live Today: Cautious optimism as markets brace for intra-day volatility amid global trends
“Markets may open slightly higher amid positive global cues, but intermittent bouts of intra-day volatility could continue as has been in the past few weeks. Upside is likely to be capped as risk aversion is likely to be the preferred theme owing to spiking multi-year high US Treasury bond yields, fears emanating from the US banking sector, growing anxiety about China’s economy, and S&P downgrading some US banks due to a challenging economic environment. Investors will now look ahead to Federal Reserve Chair Jerome Powell’s address at the central bank annual symposium at Jackson Hole, Wyoming on Friday for further clues on the rates path. For Nifty, the support is seen at 19237 mark, while any upsurge will be seen only above the 19757 mark. Intraday hurdles for the index is at 19537 mark.” -- Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd
- August 24, 2023 09:24
Stock Market Live Today: Nifty’s potential upsurge, 19,400 as key level, Bank Nifty eyes 45,000
“The market is witnessing a positive consolidation and further uptrend may continue taking the benchmark Nifty towards 19535. On the other hand, below 19400, the index may retest 19350-19315 levels. For day traders, 19400 will act as a trend-deciding level, above that the index could bounce up to 19480-19530, where it has resistance of the highest of the previous week and 20 days SMA. For Bank Nifty, as long as the index is above 44200, it can move towards 45000 levels with minor resistance at 44750. The Nifty IT index is lagging behind the broad movements of the market. If it crosses the 31300 level then it can turn bullish.” -- Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd
- August 24, 2023 09:22
Opening Bell: Chandrayaan-3 triumph and positive global markets oropel Sensex and Nifty higher
Feel good sentiment following Chandrayyan-3’s successful landing and positive global markets help Sensex and Nifty to open in higher orbit.
At 9.15 am, the 30-share BSE Sensex climbed 240 points to 65,673. The NSE Nifty gained 72 points to 19,515.
From the Nifty pack, Adani Enterprises, Adani Ports, Wipro, L&T and TechMahindra were among the gainers.
Jio Financial, NTPC, Eicher Motors, Cipla and ONGC were among the laggards.
However, according to analysts, marketmen will keep analysing minutes of US Fed and RBI policy meets. Besides, hopeful of resilient Indian economy also increases confidence of bulls.
As per ICRA Ratings, India’s economic growth will pick up speed in the April-June quarter of the current fiscal year, rising from 6.1% growth during the January-March quarter to 8.5%.
- August 24, 2023 09:08
Share Market Live Today: Brokerages on Sun Pharma, Paytm, SBI Cards, IndiGo, RIL
HSBC on
Sun Pharma
Buy Rating
Target Rs 1,275
Nomura on Sun Pharma
Buy Rating
Target Rs 1,313
Bernstein on Paytm
Initiate Outperform Rating
Target Rs 1,100
Bernstein on SBI Cards
Initiate Underperform Rating
Target Rs 650
Jefferies on IndiGo
Underperform Rating
Target Rs 2,070
CITI on RIL Ind
Neutral,
Target Rs 2750
CLSA on RIL
Buy,
Target Rs 3050
- August 24, 2023 09:07
Brokerages: HSBC and Nomura on Sun Pharma
HSBC on
Sun Pharma
Buy Rating
Target Rs 1,275
Nomura on Sun Pharma
Buy Rating
Target Rs 1,313
- August 24, 2023 09:06
Stocks to Watch: ColorChips New Media’s promoter sells shares to Ravikaanth Portfolio Services
ColorChips New Media said Srinivasa Sudhish Ramabhotla, Promoter shareholder of the Company, has sold 1,15,50,000 shares comprising of 3.69% total paid up capital of the Company to Ravikaanth Portfolio Services Private Limited, Promoter/Promoter Group of the Company through inter se transfer and 59,21,436 no of equity shares comprising 8.15% of total paid up capital of the Company through open market sale.
- August 24, 2023 09:03
Stocks to Watch: Sprayking Agro Equipment raises funds via convertible warrants for foreign investors
The board of Sprayking Agro Equipment Limited has inter-alia considered and successfully approved the raising of fund through Issuance of total 8,40,000 Convertible Warrants on a Preferential Basis at price of Rs 207 per warrant to foreign investors namely Nexpact Limited and AG Dynamic Fund Limited. Current market price is Rs. 190 Rs. Company has charged premium of 9 per cent to new investors.
The funds raised will play a pivotal role in advancing our mission to become one of leading manufacturer of brass components and parts, including fittings, forging equipment, transformer parts, and other customized brass components, said Sprayking
- August 24, 2023 09:02
Stocks to Watch: Ramkrishna Forgings bags Rs 156 crore contract
Ramkrishna Forgings secures INR 156 Crores Contract to Supply Transmission and Engine Components for Eurasian Farm Equipment Customer”.
- August 24, 2023 09:00
F&O BAN
1️⃣ BHEL
2️⃣ DELTACORP
3️⃣ ESCORTS
4️⃣ GNFC
5️⃣ HINDCOPPER
6️⃣ IBULHSGFIN
7️⃣ INDIACEM
8️⃣ MANAPPURAM
9️⃣ METROPOLIS
1️⃣0️⃣ PNB
1️⃣1️⃣ SUNTV
- August 24, 2023 08:59
Share Market Live Today: Move Out Of Short-Term ASM Framework: Bajaj Hindusthan Sugar
- August 24, 2023 08:59
Record-date Interim Dividend: Satia Industries
- August 24, 2023 08:57
Share Market Live Today: Record-date Dividend
Andrew Yule & Company, Hindustan Aeronautics, RailTel Corporation of India.
- August 24, 2023 08:56
Stock Market Live Today: Ex-date Demerger: TVS Holdings
- August 24, 2023 08:56
Stock Market Live Today: Ex-date AGM
AGI Greenpac, Mayur Uniquoters, HEG, 5Paisa Capital, Hindustan Aeronautics, IIFL Securities, Monte Carlo Fashions.
- August 24, 2023 08:55
Ex-date Interim Dividend: Satia Industries
- August 24, 2023 08:55
Stock Market Live Today: Ex-date Dividend
AGI Greenpac, Andrew Yule & Company, Hindustan Aeronautics, RailTel Corporation of India, Monte Carlo Fashions, Mayur Uniquoters, HEG.
- August 24, 2023 08:55
Stock Market Live Today: Trading Tweaks
Price Band Revised From 10% To 5%: 63 Moons Technologies.
Price Band Revised From 20% To 10%: Ksolves India.
Price Band Revised From 20% To 5%: TVS Holdings.
- August 24, 2023 08:53
Bulk Deals
Shriram Properties: Omega TC Sabre Holdings sold 12.8 lakh shares (0.7%) at Rs 83.58 apiece.
Atul Auto: Societe Generale bought 1.4 lakh shares (0.6%) at Rs 409.54 apiece.
Gensol Engineering: Basant Traders - Prakash Satyanarayan Jalan bought one lakh shares (0.8%) at Rs 1,749.99 apiece.
- August 24, 2023 08:52
Stocks to Watch: Paramount Communications
Paramount Communications: The board has approved the acquisition of a 100% stake in Valens Technologies for Rs 1.97 crore. The deal gives PCL a strong position in the telecom business while also adding market and product diversity in terms of the water pipeline business.
- August 24, 2023 08:51
Stocks to Watch: Avantel
Avantel: The company has received a purchase order worth Rs 13.30 crore from Bharat Electronics for the supply of PA modules.
- August 24, 2023 08:50
Stocks to Watch: Vascon Engineers
Vascon Engineers: The company received an order worth Rs 605.65 crore from Bihar Medical Services and Infrastructure Corporation for the construction of Lohia Medical College and Hospital, including a hospital and residential building in Supau.
- August 24, 2023 08:48
Stocks to Watch: PNB Housing Finance
PNB Housing Finance: ICRA revised the rating outlook on NCDs and Tier II bonds to positive from stable.
- August 24, 2023 08:47
Stocks to Watch: Borosil
Borosil: Its subsidary Klass Pack has executed a share purchase agreement to acquire an additional 4.56% in Goel Scientific for Rs 91.12 lakh. This follows KPL’s 90.17% acquisition of Goel Scientific, for which the acquisition price has been agreed at Rs 21.5 crore. KPL’s stake increases to 94.73%.
- August 24, 2023 08:47
Stocks to Watch: SJS Enterprises
SJS Enterprises: Promoter Evergraph Holdings sold 29.53% of its stake in the open market, reducing its stake to 4.63%.
- August 24, 2023 08:46
Stocks to Watch: Procter & Gamble Health
Procter & Gamble Health: For the quarter ended June (Q4FY23), the FMCG company reported a revenue of Rs 301.18 crore, up 1.78% year-on-year, while its net profit was down 27.6% at Rs 29.82 crore. The board recommended a dividend of Rs 50 per share for the financial year ended June 30, 2023.
- August 24, 2023 08:45
Stocks to Watch: NHPC
NHPC: The company signed an MoU with Andhra Pradesh Power Generation Corporation for renewable energy projects in the state. The MoU allows parties to form a JV to implement techno-commercially viable pumped storage hydropower projects and other renewable energy projects allotted by the state.
- August 24, 2023 08:44
Stocks To Watch: Reliance Industries
Reliance Industries: Qatar Investment Authority to invest Rs 8,278 crore (0.99% stake) in Reliance Retail Ventures at a pre-money equity value of Rs 8.278 lakh crore via a wholly-owned subsidiary.
- August 24, 2023 08:43
Stocks to Watch: PVP Ventures board to discuss preferential issue, seeks shareholder approval
The board of PVP Ventures meets today to consider and approve preferential issue, subject to shareholders approval by way of postal ballot.
- August 24, 2023 08:42
Listing of New Securities
Listing of New Securities PIRAMAL PHARMA LIMITED today
12.96 crore equity shares of Rs. 10/- each issued at a premium of Rs.71/- on right basis
- August 24, 2023 08:41
IPO -- Vishnu Prakash R Punglia Ltd IPO opens today, aims to raise ₹309 crore
The public issue of Vishnu Prakash R Punglia Ltd opens for subscription today and will close on August 28. The company plans to raise about ₹309 crore from the IPO and fixed the price band at ₹94-99. Investors can bid for a minimum of 150 Equity Shares.
The entire IPO is a fresh issue.
- August 24, 2023 08:39
Stocks to Watch: Redtape promoter Yasmin Mirza acquires 15.96% stake from Shahid Ahmad Mirza through gift
Promoter Yasmin Mirza has acquired by way of gift 15.96% from Shahid Ahmad Mirza, 16.03% from Tauseef Ahmad Mirza, and 14.11% from Tasneef Ahmad Mirza. Yasmin’s stake increased to 50.27% from 4.18%, while the other three promoters’ stakes were reduced to nil.
- August 24, 2023 08:32
Insider trades
Sterling and Wilson Renewable Energy: Promoter Khurshed Yazdi Daruvala sold 20 lakh shares on Aug. 18.
Advanced Enzyme Technologies: Promoter Advanced Vital Enzymes sold 17,000 shares between Aug. 18 and 21.
TVS Holdings: Promoter TVS Holdings sold 5.28 crore shares on Aug. 18.
- August 24, 2023 08:31
Stock Market Live Today: Aeroflex Industries’ ₹351 crore IPO subscribed 21.10 times, strong investor demand on Day 2
The IPO of Aeroflex Industries will close today for public subscription. The ₹351-crore initial public offering has so far seen an overwhelming response from all category of investors. It subscribed 21.10 times at the end of Day 2 of subscription The public issue comes at a price band ₹102-108 and investors can bid for a minimum of 130 equity shares. The issue received bids of 48.98 crore shares against the offered 2.32 crore shares on offer.
- August 24, 2023 08:28
Stocks to Watch: Asit C. Mehta Financial Services Limited
The Board of Directors of Asit C. Mehta Financial Services Limited will meet on August 26 to consider and approve the proposal to issue 2,000 10.50% Secured Redeemable Non-Convertible Debentures of Rs. 1,00,000 each face value aggregating to Rs. 20 crore on private placement basis.
- August 24, 2023 08:27
Motilal Oswal Financial Services view on RRVL
Reliance Industries: QIA to invest in RRVL; 0.5% dilution for RIL shareholders:
- Reliance Industries (RIL) has announced that Qatar Investment Authority; (QIA) would invest INR82.8b in Reliance Retail Ventures Ltd (RRVL) through a wholly owned subsidiary. This investment is set at a pre-money equity valuation of INR8.3t. At an estimated net debt of INR332b in FY25, the RRVL’s enterprise value stands at INR8.6t and equity per share value stands at at INR1,200.
- Compared to previous deals in FY20 where the company raised ~INR473b at EV/EBITDA of ~25x in FY25 and average equity value of INR710 per share. EV has almost doubled to INR8.6t from INR4.4t. The valuation aligns with prior transactions, hovering around ~27x EV/EBITDA based on a 2-year forward. Notably, EBITDA has doubled in the last three years, reaching INR179b in FY23. We have assigned 37x EV/EBITDA on FY25E, arriving at an EV of INR11.7t, with a per share value of INR1670 (INR1485 for RIL)
- August 24, 2023 08:25
Stocks in Focus: Aerospace sector in focus as Chandrayaan-3 triumph impacts stocks: Bharat Forge, L&T Technology Services, and others
Due to successful landing of Chandrayaan-3, shares of Larsen & Toubro, Hindustan Aeronautics, Bharat Forge, Linde India, Centum Electronics, Avantel, LMW and L&T Technology Services, will remain in focus, as they are in the business of supplying electronic components or engineering solutions to the aerospace sector.
- August 24, 2023 08:23
Stocks in F&O Ban: 24.08.2023
BHEL
DELTACORP
ESCORTS
GNFC
HINDCOPPER
IBULHSGFIN
INDIACEM
MANAPPURAM
METROPOLIS
PNB
SUNTV
- August 24, 2023 08:22
Stocks to Watch: DroneAcharya Aerial Innovations
DroneAcharya Aerial Innovations has successfully tested a Reusable Rocket Launch Vehicle. In a release, the company said the Vehicle attained an altitude of about 3 KM above ground and successfully landed using a Parachute Mechanism. The Vehicle had Air Pressure Sensor, Heat Sensor, Internal combustion Sensor, Air friction Sensor (with calculation) and Miniature parachute for equipment recovery onboard. The major highlight of this test was that there was a 100 per cent recovery of the onboard sensors as well as the Rocket Launch Vehicle.
- August 24, 2023 08:18
Stock Market Live Today: Opening Bid - Nifty aims for 19,500 mark as Chandrayaan-3 success and global positivity boost Indian markets
Feel good sentiment following Chandrayyan-3’s successful landing and positive global markets to help domestic markets open in higher orbit. The Gift Nifty futures indicates that Nifty could reclaim 19,500 mark. However, according to analysts, marketmen will keep analysing minutes of US Fed and RBI policy meets. Besides, hopeful of resilient Indian economy also increases confidence of bulls.
- August 24, 2023 08:10
Stocks to Watch: Coforge
Reports that Hulst BV, promoter of Coforge Ltd is offloading its entire 26.63 per cent stake via a block deal to keep the stock in focus. According to reports, the floor price has been fixed at Rs 4,550 a share, which is a 7.4 percent discount to the current market price of Rs 4,901.95. The Netherlands-registered Hulst BV is owned and controlled by funds affiliated with BPEA (Baring Private Equity Asia).
- August 24, 2023 08:09
Stocks to Watch: Torrent Pharmaceuticals
Torrent Pharmaceuticals has informed the exchanges that USFDA has issued an Establishment Inspection Report for its manufacturing unit at Dahej, Gujarat. It had conducted the inspection between May 17 and 25.
- August 24, 2023 08:08
Stocks to Watch: Fineotex Chemical
Fineotex Chemical Limited , a leader of speciality chemicals headquartered in Mumbai, India, has been awarded with the ESG Registered Badge by Dun & Bradstreet (D&B) a prominent global provider of business decisioning data and analytics. The D&B ESG Registered Badge serves as a testament to Fineotex’s dedication to transparently disclosing its environmental, social, and governance (ESG) initiatives.
- August 24, 2023 08:06
Dividend Dates
Ex-Dividend 25 August 2023 (Tomorrow)
Last date for Cum-Dividend Today
ABB India Limited
Dividend Per Share Rs.Special 5.5
Previous day Closing Price – Rs. 4301.85
Deepak Fertilisers & Petrochemicals Corporation Ltd.
Dividend Per Share Rs.10
Previous day Closing Price – Rs. 573.35
Ecoplast Ltd.
Dividend Per Share Rs.1.5
Previous day Closing Price – Rs. 147.5
Engineers India Ltd.
Dividend Per Share Rs.1
Previous day Closing Price – Rs. 164.25
Gujarat Ambuja Exports Ltd.
Dividend Per Share Rs.0.7
Previous day Closing Price – Rs. 245.05
GIC Housing Finance Ltd.
Dividend Per Share Rs.4.5
Previous day Closing Price – Rs. 182.4
Gujarat Hotels Ltd.
Dividend Per Share Rs.2
Previous day Closing Price – Rs. 156.85
Gulf Oil Lubricants India Ltd
Dividend Per Share Rs.25
Previous day Closing Price – Rs. 632.8
Hazoor Multi Projects Ltd.
Dividend Per Share Rs.3
Previous day Closing Price – Rs. 131.4
International Travel House Ltd
Dividend Per Share Rs.3.5
Previous day Closing Price – Rs. 328.3
KRBL Ltd.
Dividend Per Share Rs.1
Previous day Closing Price – Rs. 411.75
C.E. Info Systems Ltd
Dividend Per Share Rs.3
Previous day Closing Price – Rs. 1657.3
Munjal Auto Industries Ltd.
Dividend Per Share Rs.2
Previous day Closing Price – Rs. 63.88
NCC Limited
Dividend Per Share Rs.2.2
Previous day Closing Price – Rs. 153.55
NDL Ventures Ltd
Dividend Per Share Rs.2
Previous day Closing Price – Rs. 135.55
Neogen Chemicals Ltd
Dividend Per Share Rs.3
Previous day Closing Price – Rs. 1560.95
Nicco Parks & Resorts Ltd.
Dividend Per Share Rs.0.5
Previous day Closing Price – Rs. 134.5
Oil India Ltd.
Dividend Per Share Rs.5.5
Previous day Closing Price – Rs. 290.95
Panchsheel Organics Ltd.
Dividend Per Share Rs.0.8
Previous day Closing Price – Rs. 190.5
Salzer Electronics Ltd.
Dividend Per Share Rs.2.2
Previous day Closing Price – Rs. 402.9
Seamec Ltd.
Dividend Per Share Rs.1
Previous day Closing Price – Rs. 654.65
Shri Dinesh Mills Ltd.
Dividend Per Share Rs.10
Previous day Closing Price – Rs. 524.4
Sudarshan Pharma Industries Ltd
Dividend Per Share Rs.0.3
Previous day Closing Price – Rs. 83.62
Surya Roshni Ltd.
Dividend Per Share Rs.4
Previous day Closing Price – Rs. 830.45
Suyog Telematics Ltd
Dividend Per Share Rs.0.5
Previous day Closing Price – Rs. 600.25
United Drilling Tools Ltd.
Dividend Per Share Rs.1.2
Previous day Closing Price – Rs. 225.1
V.S.T.Tillers Tractors Ltd
Dividend Per Share Rs.25
Previous day Closing Price – Rs. 3135.3
- August 24, 2023 08:01
Stocks to Watch: HCL Tech collaborates with AWS to accelerate GenAI adoption
HCL Technologies (HCLTech) on Wednesday has collaborated with Amazon Web Services (AWS) to accelerate the adoption of generative artificial intelligence (GenAI) at the company and by enterprises globally.
- August 24, 2023 07:59
Stocks to Watch: TVS Motor unveils its new premium electric 2W
TVS Motor Company on Wednesday took the wraps off its new sporty and stylish electric scooter — TVS X — at an event in Dubai, as the leading two- and three-wheeler maker has been accelerating its growth pans in the battery-powered vehicles segment after the success of its first e-scooter iQube.
- August 24, 2023 07:51
Stocks that will see action today: August 24, 2023
Buzzing Stocks: Coforge, Chandrayaan-stocks, Reliance Industries, Asit C Mehta, Vascon Engineers, Fineotex Chem, Tata Motors, TVS Motor, Torrent Pharma, DroneAcharya, NHPC
- August 24, 2023 07:48
Stock to buy today: Jubilant Ingrevia (₹476.15)
The upmove is gaining momentum of Jubilant Ingrevia. The stock surged over 7 per cent on Wednesday breaking above the key 200-Day Moving Average, currently at ₹455. The region between ₹460 and ₹455 will now act as a good resistance-turned-support zone.
- August 24, 2023 07:46
Day trading guide for August 24, 2023: 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
- August 24, 2023 07:36
Wall Street end sharply higher
U.S. stocks experienced significant gains on Wednesday, with all major indices closing higher. Nvidia, a prominent technology company, saw its shares surge by nearly 10% after the trading session, reaching an all-time high. This increase was fueled by Nvidia’s optimistic projection of third-quarter revenue, which exceeded expectations set by Wall Street analysts. On Wall Street, the Dow Jones Industrial Average recorded a 0.54% increase, the S&P 500 rose by 1.10%, and the Nasdaq Composite saw a substantial gain of 1.59%.
In the realm of U.S. Treasuries, the yield on the benchmark 10-year Treasury notes slightly decreased to 4.1879% compared to the previous day’s close of 4.198%. This decline came after reaching near 16-year highs, prompted by disappointing business activity data from both the United States and the euro zone. The yield on two-year Treasury notes, indicative of expectations for higher Fed fund rates, reached 4.971%, up from the prior day’s closing of 4.952%. - Reuters
- August 24, 2023 07:33
Asia stocks track Wall Street rally as treasury yields retreat
Asian shares rallied on Thursday after blockbuster results from tech darling Nvidia boosted Wall Street and a retreat in U.S. bond yields eased pressure on borrowing costs globally.
A round of soft surveys on manufacturing had also revived hopes central banks were done tightening, though that might change depending on what clues about interest rates Federal Reserve Chairman Jerome Powell gives at an annual central bank summit in Jackson Hole, Wyoming, on Friday.
“Equities rallied and bond yields retreated as flash PMI data for August signalled weaker economic activity in the U.S., euro area and UK, fuelling market expectations that central banks may not have to raise rates again,” said analysts at ANZ in a note. - Reuters
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