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 October 28, 2024ย
ALL UPDATES
- October 28, 2024 16:04
Stock Market Live Today: Rupee settles on flat note, up 1 paisa at 84.07 against US dollar
- October 28, 2024 15:41
Stock Market Live Today: Top gainers and losers on the NSE at 3 pm
Top gainers
Shriram Finance (5.35%), Adani Enterprises (4.07%), ICICI Bank (3.10%), JSW Steel (3%), Wipro (2.90%)ย
Top losers:ย
Coal India (-3.76%), Bajaj Auto (-2.07%), Axis Bank (-1.29%), Hero Motocorp (-1.19%), BEL (-0.92%)
- October 28, 2024 15:41
Stock Market Live Today: Sensex gains 603 points; Nifty up 158 points at close
Sensex closed at 80,005.04, higher by 602.75 pts or 0.76%, and Nifty 50 ended at 24,339.15, up 158.35 pts or 0.65%.
- October 28, 2024 15:40
Stock Market Live Today: Indian Oil Q2 profit drops sharply; shares flat at โน145.74
Indian Oil Corporation recorded its standalone net profit for the quarter ended September 2024 at โน180.01 crore as against โน12,967.32 crore in the corresponding quarter last year.
Shares closed flat at โน145.74 on the NSE
- October 28, 2024 15:22
Stock Market Live Today: LIC Housing Finance Q2 profit rises; shares up 3.08%
LIC Housing Finance recorded its standalone net profit for the quarter ended Sept 2024 at โน1,328.89 crore as against โน1,188.05 crore in the corresponding quarter last year.
Shares surged 3.08% on the NSE to โน616.70
- October 28, 2024 15:21
Stock Market Live Today: Sensex trades below 80,000
- October 28, 2024 15:12
Stock Market live updates: JBM Auto board has approved subdivision of 2 equity shares into 1 each. Shares declined 3.76% on the NSEย toย โน1,512.05
- October 28, 2024 15:11
Stock Market live updates: RITES receives Letter of Acceptance from U.P. State Bridge Corporation
RITES has received the Letter of Acceptance on October 28, 2024 from U.P. State Bridge Corporation Limited for โConsultancy Services for Construction Supervision of Civil Works (CSC) for Supervision, Monitoring, Quality Control, and Work Zone Safety for Construction of Bridges, Rail Over/Under Bridges, Flyovers and Elevated Roads including approaches in several districts of Uttar Pradeshโ.ย
Contract valued at โน59.13 crore.
Shares trade 2.38% on the NSE, trading at โน284.45.
- October 28, 2024 15:10
Stock Market live updates: Accelya announces that its financial solutions have processed over $100 billion
Accelya announced that its financial solutions have processed over $100 billion in revenue for airlines worldwide in the financial year ending June 30, 2024
Shares trade flat on the NSE at โน1,565.50.
- October 28, 2024 15:09
Stock Market live updates: Lords Chloro Alkali Limited announces a 16 MW DC solar power plant
Lords Chloro Alkali Limited has announced that the Companyโs 16 MW DC solar power plant has commenced operations from October 25, 2024.
Shares surge 4.36% to โน132 on the NSE.
- October 28, 2024 15:08
Stock Market live updates: Top losers on the NSE as at 3 pm
Coal India (-4.39%), Axis Bank (-1.80%), Bajaj Auto (-1.70%), Kotak Mahindra Bank(-1.18%), Tech Mahindra (-0.90%)
- October 28, 2024 15:07
Stock Market live updates: Top gainers on the NSE as at 3 pm
Shriram Finance (5.68%), Adani Enterprises (3.88%), Eicher Motors (3.29%), ICICI Bank (2.92%), Wipro (2.70%)
- October 28, 2024 15:06
Stock Market live updates: Market overview
Stocks advanced on BSE at 3 pm on October 28, 2024, were 2,591 against 1,365 stocks that declined, and 159 remained unchanged. Total stocks traded were 4,115. The number of stocks that recorded a 52-week high was 126, and those that hit a 52-week low was 145. A total of 337 stocks traded in the upper circuit, and 312 in the lower circuit.
- October 28, 2024 15:01
Stock Market live updates: Top gainers of Nifty Metal stocks
Hindustan Copper (6.16%), NMDC (4.44%), Adani Enterprises (4.31%), Hindustan Zinc (3.52%), Vedanta (3.05%)
- October 28, 2024 14:59
Q2 results: PNB Q2 consolidated net zooms 137% at โน4,714 crore
Aided by strong operational performance and significantly lower NPA provisioning, Punjab National Bank (PNB) on Monday reported a 137 per cent increase in net profit for the quarter ended September 30, 2024 at โน4,714 crore (โน1,990 crore).
The latest bottomline performance was the highest ever quarterly net profit recorded by the state-owned lender and is also higher than consolidated net profit of โน3,976 crore in June 2024 quarter, latest filings with stock exchanges showed.
On a standalone basis, PNBโs net profit for the quarter under review increased 145 per cent to โน4,303 crore (โน1,756 crore).
Read more here.
- October 28, 2024 14:42
Stock Market live updates: Sun Pharmaceutical Q2 results
Sun Pharmaceutical reported its standalone net profit at โน863.2 crore in the quarter ended Sept 2024 as against โน888.6 crore in the corresponding quarter last year.ย
Shares were up 2.29% on the NSE, trading at โน1,902.95
- October 28, 2024 14:40
Stock Market live updates: Bharat Heavy Electricals Q2 results
Bharat Heavy Electricals Ltd recorded its standalone net profit for the quarter ended Sept 2024 at โน96.67 crore as against the loss of โน58.30 crore in the corresponding quarter last year.
Shares jump 9.11% on the NSE to โน236.60
- October 28, 2024 14:37
Stock Market live updates: CDSL shares gained 4.94% on the NSE trading at โน1,489.05 followingย Q2ย results
- October 28, 2024 14:32
Stock Market live updates: Paras Defence and Space Technologies Q2 results
Paras Defence and Space Technologies recorded its standalone net profit for the quarter ended Sept 2024 at โน15.60 crore as against โน10.10 crore in the corresponding quarter last year.
Shares surged 4.41% on the NSE to โน967.80
- October 28, 2024 14:29
Stock Market live today: Mahindra Finance receives approval from RBI to launch co-branded credit cards
Mahindra Finance, a part of the diversified Mahindra Group, has received necessary approvals from the Reserve Bank of India to launch co-branded credit cards in association with RBL Bank, one of Indiaโs leading private sector banks. These co-branded cards will be specifically designed to cater to a broad spectrum of Mahindra Financeโs customer base, offering enhanced benefits, loyalty programs, and milestone rewards.
Raul Rebello, Managing Director & CEO, Mahindra Finance emphasized, โAs a preferred financier to emerging India, we continuously endeavour to provide relevant products for our customers. Our first co-branded credit card, being developed in collaboration with RBL Bank, will be designed to meet the aspirational needs of our customers, across geographies in India. Through our 1350 plus branches, healthy customer acquisition across branches and dealerships covering more than 5000 touchpoints, we believe RBL Bankโs expertise and being one of the top card issuers would provide significant synergiesโ.
- October 28, 2024 14:27
IPO Watch: Waaree Energiesโ power-packed listing: What should investors do?
Waaree Energies (Waaree) made a power-packed listing today with the shares making a more-than-decent debut at โน2,550, a 69.7 per cent premium over its IPO issue price of โน1,503. While it has given up some of the gains in further trading, at the time of publishing this article it was trading at โน2,375 which still represents a solid 58 per cent increase over the IPO price.
The demand for the issue was strong, with the offer getting subscribed around 76 times. The applications received against it were around 97.3 lakh in number โ the highest-ever number of applications received against a public issue in India.
Read more here.
- October 28, 2024 14:25
Stock Market live updates: KMEW secures โน147 crore waterway maintenance contract from IWAIย
Knowledge Marine & Engineering Works Limited (KMEW) has been awarded a โน147.43 crore contract from the Inland Waterways Authority of India (IWAI) for fairway maintenance of two stretches along National Waterway-1. The contract, announced on October 28, covers the Sultanganj-Mahendrapur (74 km) and Mahendrapur-Barh (71 km) stretches of River Ganga.ย
The shares of Knowledge Marine & Engineering Works Limited (KMEW) were trading at โน1795 up by โน102.55 or 6.06 per cent on the BSE today at 2.11 pm.ย
Read more here.
- October 28, 2024 14:19
Stock Market live updates: SSCL expands solar power capacity at Rajasthan facility, shares rise
Saboo Sodium Chloro Limited (SSCL) announced today the expansion of its captive solar power plant at its Nawa refinery in Sambhar Lake, Rajasthan. The company is adding 150 kW of solar power capacity to its existing 500 kW facility, bringing the total capacity to 650 kW.
The shares of Saboo Sodium Chloro Limited (SSCL) were trading at โน23.20, up by โน1.10 or 4.98 per cent on the BSE today at 1:55 pm.
Read more here.
- October 28, 2024 14:11
Stock Market live updates: Gillette India Limited has appointed Srividya Srinivasan as Chief Financial Officer of the company w.e.f. Novemberย 01,ย 2024
- October 28, 2024 14:11
Stock Market live updates: Top gainers of Nifty PSU Bank stocks
Indian Bank (9.72%), Canara Bank (5.61%), Bank of Baroda (5.16%), PNB (5.03%)
- October 28, 2024 14:10
Stock Market live updates: Nifty PSU Bank gained 4.04% to 6,537.95
- October 28, 2024 14:10
Stock Market live updates: Wheels India Q2 results
Wheels India Ltd, an auto parts manufacturer, reported a significant increase in net profit for the second quarter ending September 30, 2024, at โน21.92 crore, up from โน5.24 crore in the same period last year.ย
The lower profit in Q2 of the previous year was due to one-time expenses, including pre-delivery inspection charges. The companyโs revenue for Q2 2024 stood at โน1,085 crore, slightly down from โน1,189 crore in Q2 2023.
- October 28, 2024 14:03
Stock Market live updates: Rail Vikas Nigam Limited emerges as the Lowest Bidder (L1) from East Central Railway. (contract worth โน186.76 crore.) RVNL shares up 2.85% on theย NSEย toย โน431.70
- October 28, 2024 13:42
Q2 Results: Ambuja Cements delivers steady Q2-FY25 performance
Adani Group company Ambuja Cements delivered a steady performance in the July-September quarter of 2024-25 with a volume growth of 9%, at 14.2 million tonne.ย
It was the highest in terms of volume in Q2 series in the past five years. The Adani Group company registered highest quarterly revenue of โน7,516 crore, up 1% year-on-year.ย
The companyโs net worth increased to โน59,916 crore in the quarter, it said in its earnings on Monday. The company attributed this performance to healthy volume growth, increasing scale of operations, value extraction of acquired assets, enhanced cost leadership, improved operational efficiencies and group synergies.
Read more here.
- October 28, 2024 13:29
Stock market live updates: SRM Contractors signs โน45.25 crore agreement with Odisha Mining Corporation; stock flat at โน261
SRM Contractors has signed the agreement for BOQ Project of OMC (Odisha Mining Corporation Ltd) for aggregate quoted price of โน45.25 crore.ย
Stock trades flat on the NSE at โน261
- October 28, 2024 13:21
Stock market live today: Knowledge Marine secures โน147 crore contract for Ganga waterway maintenance; shares surge 7.83% to โน1,824.95
Knowledge Marine & Engineering Works Limited has been awarded with a work order from Inland Waterways Authority of India for Fairway maintenance of Sultanganjโ Mahendrapur (74 Km) and MahendrapurโBarh (71 Km) stretches of National Waterwayโ1 (โRiver Gangaโ) (contract valued โน147 crore)
Knowledge Marine stock jumps 7.83% on the BSE to โน1,824.95.
- October 28, 2024 13:20
Stock market live today: Post listing view on Waaree Energies IPO by Prashanth Tapse of Mehta Equitiesย
Despite the ongoing subdued market mood, Waaree Energies received the strongest subscription response from all sets of investors and also debuted slightly below our expectations. Pre listing, we had recommended profit booking if Waaree lists at double of its issue price which was the street expectations. With listing at Rs 2550, we believe the stock can deliver healthy returns post listing as well.
We believe the long term investor demand would continue at the counter on the back of sector demand and expansion plans, with an opportunity to play at the largest manufacturer of solar PV modules in India, bolstered by favourable government policies and few incentive (PLI) schemes. Hence, we recommend long term investors to โHOLDโ while short term investors can look for a target anywhere between Rs 2750-2800 to book profits. Fresh accumulation can be attempted anywhere between Rs 2200-2300 if the opportunity arises due to market scenario and profits booking attempts.
- October 28, 2024 13:20
Stock market live today: Stock Split Dates
Quasar India Ltd
Stock Split From Rs.10/- to Rs.1/-
Previous day Closing Price โ Rs. 1506.95
Ex-Split 29 Oct 2024 (Tomorrow)
Last date for Cum-Split Today
- October 28, 2024 13:19
Stock market live updates: Dividend Dates: Ex-Dividend 29 Oct 2024 (Tomorrow)
Last date for Cum-Dividend Today
Infosys Ltd.
Dividend Per Share Rs. - 21
Previous day Closing Price โ Rs. 1853.25
Route Mobile Ltd
Dividend Per Share Rs. 6
Previous day Closing Price โ Rs. 1506.95
- October 28, 2024 13:19
Stock market live today: Ambuja Cements Q3 profit drops to โน500.66 cr; shares rise 3.10% to โน569.85
Ambuja Cements recorded its standalone net profit for the quarter ended September 2024 at โน500.66 crore as against โน643.84 crore in the corresponding quarter last year.ย
Shares trade at โน569.85 on the NSE, up 3.10%.
- October 28, 2024 12:53
Stock market live today: Sensex jumps 1000 pts
- October 28, 2024 12:52
Stock market live today: B-Right RealEstate executes โน91.36 crore sale with Rustomjee Group; shares dip 2% to โน373.20
B-Right RealEstate Limited, through its step-down subsidiary, Parth Construction, has executed bulk inventory sales transaction worth Rs 91.36 crore with Rustomjee Group (Keyvihar Realtors Pvt Ltd).ย
B-Right RealEstate shares trade 2% lower on the BSE at โน373.20
- October 28, 2024 12:52
Stock market live today: Ajmera Realty shares soar 6.70% to โน880; standalone net profit rises to โน27.59 crore
Shares of Ajmera Realty & Infra surged 6.70% to โน880 on the NSE. Company recorded its standalone net profit for the quarter ended September 2024 at โน27.59 crore as against โน21.41 crore in the corresponding quarter last year.
- October 28, 2024 12:37
Stock in focus: NBCC secures โน1,726 crore Goa redevelopment project; shares rise 4.37% to โน91.75
NBCC (India) Limited has been awarded redevelopment works (Phase-I) in Goa for โน1,726 crore.
Shares surge 4.37% on the NSE to โน91.75
- October 28, 2024 12:28
Stock market live today: Cartrade Tech reports โน30.72 crore net profit; shares jump 5.05% to โน1,032
Cartrade Tech recorded its consolidated net profit for the quarter ended September 2024 at โน30.72 crore as against โน5.04 crore in the corresponding quarter last year.
Shares surge 5.05% on the NSE to โน1,032.
- October 28, 2024 12:28
Stock market live today: HCLTech launches Global Cyber Resilience Study 2024-25; shares steady at โน1,865.85
HCLTech released The Global Cyber Resilience Study 2024-25, detailing strategic priorities aimed at bolstering cybersecurity readiness and resilience.ย
Shares trade flat on the NSE at โน1,865.85.
- October 28, 2024 12:26
Nifty today: Top gainers, losers at noon trade
Top gainers on the NSE as at 12.03 pm:
Shriram Finance (7.04%) Adani Enterprises (3.86%), ICICI Bank (3.72%), M&M(3.60%), IndusInd (3.25%)
Top losers:
Coal India (-3.75%), BEL (-1.32%), Tech Mahindra (-1.20%), SBI Life (-0.97%), Axis Bank (-0.96%)
- October 28, 2024 12:25
Sensex today: Stocks advance-decline ratio at noon trade
Stocks advanced on BSE at 12.04 pm on October 28, 2024, were 2,510 against 1,304 stocks that declined, and 175 remained unchanged. Total stocks traded were 3,989. The number of stocks that recorded a 52-week high was 113, and those that hit a 52-week low was 135. A total of 271 stocks traded in the upper circuit, and 278 in the lower circuit.
- October 28, 2024 11:55
Stock market live today: Cyient acquires 27.3% stake in Azimuth AI; shares steady at โน1,790.40
Cyient, a global engineering services company, has acquired a stake of 27.3 per cent in Azimuth AI, a fabless custom ASIC (application-specific integrated circuit) company.ย
โInvesting in Azimuth AI strengthens our focus on building ASIC chips designed and developed in India โ for the world. It further enhances our capabilities in this critical space while reinforcing our commitment to next-gen power and energy solutions. We look forward to this partnership,โ Krishna Bodanapu, Cyientโs Executive Vice-Chairman and Managing Director, has said.
The Hyderabad-based company floated a wholly-owned semiconductor subsidiary early this year.
Praveen Yasarapu, Founder and CEO of the US-based Azimuth AI, said the synergies between the two companies has the potential to deliver groundbreaking semiconductor solutions.
Shares trade flat on the NSE at โน1,790.40
- October 28, 2024 11:53
Stock market live today: smallcase launches high-interest fixed deposits with up to 9.5% rates
smallcase announced the launch of high interest fixed deposits (FDs) offered by banks on the smallcase app. smallcase has partnered with Shivalik Bank, Suryoday Small Finance Bank, Utkarsh Small Finance Bank, South Indian Bank, North East Small Finance Bank to offer FDs. The fixed deposit schemes with a maximum interest rate of 9.5% and tenure of 60 months can be availed on deposits of up to INR 10 lakhs.
- October 28, 2024 11:52
Stock market live updates: Bajaj Finance raises โน1,384.17 crore through NCD allocation; shares hold steady
Bajaj Finance board has allotted 6,020 NCDs, at face value of โน 10 Lakh each and 75,000 NCDs at face value of โน 1 Lakh each, aggregating to โน 1,384.17 crore on private placement basis.
Shares trade flat on the NSE at โน6,948.90
- October 28, 2024 11:49
Stock in Focus: InfoBeans Technologies posts 223% profit surge; shares jump 12.88%
InfoBeans Technologies recorded its standalone net profit for the quarter ended Sept 2024 at 14.69 crore as against โน4.56 crore in the corresponding quarter last year.
Shares skyrocketed 12.88% on the NSE to โน432.60.
- October 28, 2024 11:29
Stock to watch: Saboo Sodium Chloro Limited
Saboo Sodium Chloro Limited (SSCL) announced enhancement to the captive solar power plant at our Nawa refinery, located in Sambhar Lake, Rajasthan.ย
Shares rise 2.04% to โน22.55 on the BSE.
- October 28, 2024 11:16
Bank Nifty Prediction Today โ October 28, 2024: There is room to rise but stay out of the market
The Bank Nifty index has risen back well above 51,000 again. It is now trading at 51,488, up 1.38 per cent. It is now important for it to sustain this rise and get a strong follow-through buying from here. Only the danger of falling back below 51,000 will reduce. The advances/declines ratio is at 10:2. This is positive.
- October 28, 2024 11:13
Stock market live today: Waaree Energies shares dip after strong market debut
Solar PV module manufacturer Waaree Energies Limited made its stock market debut on Monday with a listing price of โน2,500 on the National Stock Exchange (NSE), marking a 67 per cent premium over its issue price of โน1,503.ย
However, the shares retreated in early trading, declining nearly 4 per cent to โน2,400.55 on NSE and 5.73 per cent to โน2,404 on BSE as of 10:46 AM IST.
- October 28, 2024 11:12
Nifty Prediction Today โ October 28, 2024: On a corrective rise. Sell on rallies
Nifty 50 is witnessing a recovery rally now. The index has risen well in the opening trades today. It is currently trading at 24,365, up 0.77 per cent. The advances/declines ratio is at 36:14. If this trend sustains, then Nifty can rise further during the day. We will have to wait and watch.
- October 28, 2024 11:04
Share market updates: Akshay Chinchalkar, Head of Research, Axis Securities, on Nifty outlook
The Nifty could attempt a bounce this week, according to historical patterns for the current week in seasonal data.ย
This week is the 44th week of the calendar year, and a 10-year analysis starting from 2014 indicates that the market has ended higher 80% of the time during this week, with an average gain of 1.4%. In fact, the last time this week ended in the red was eight years ago in 2016.
That said, the tactical trend remains down and any bounce on the Nifty will face stiff resistance in the 24,413 - 24,462 area, while support lies at 24,073. Any break below this support will bring the all-important 23,779 into the picture.
- October 28, 2024 11:03
Stock market today: Macrotech Developers to launch 8 million sq ft of residential space; shares trade falt
Macrotech Developers (Lodha) will launch nearly 8 million square feet of residential space in the second half of this fiscal with an estimated sales value of Rs 10,000 crore, as part of its strategy to expand the business.
Macrotech Developers stock trades flat on the NSE at โน1,075.
- October 28, 2024 10:48
Stock market live today: Adani Enterprises stock jumps 3.34% to โน2,783.45 following new UAE subsidiary announcement
Adani Enterprises stock surged 3.34% on the NSE to โน2,783.45. Its wholly-owned subsidiary Adani Airport Holdings Limited (AAHL) announced the incorporation of a new subsidiary named Celeritas International FZCO (CIFZCO) in the United Arab Emirates.
- October 28, 2024 10:47
Stock market live updates: SpiceJet introduces 32 new winter flights; shares rise 2.57% to โน58.33
SpiceJet launches 32 New Flights for Winter Schedule
Shares up 2.57% on the BSE to โน58.33.
- October 28, 2024 10:46
IPO Watch: Post-listing view on Waree Energies from Shivani Nyati, Head of Wealth, Swastika Investmartย
Waaree Energies Limited is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW.Its portfolio of solar energy products consists of multi-crystalline modules, monocrystalline
modules and TopCon modules.
The company has a strong focus on growth and
expansion. It has demonstrated remarkable financial growth. The company has a diversified base of global and Indian customers with a strong order book.
Overall, Waaree Energies Limited made a strong listing of 2509, reflecting investor confidence in the companyโs growth potential and financial stability. Investors may consider booking part profit here, and those who want to hold it for the long term may keep a stoploss of 2000.
- October 28, 2024 10:45
Stock market updates: Gopal SnackslLaunches โPizza Pastaโ; shares climb 1.45% to โน456
Gopal Snacks Limited has launched a new product, โPizza Pastaโ within the Snack Pallets category.
Shares rise 1.45% on the NSE to โน456
- October 28, 2024 10:45
Stock markets today: Waaree Energies stock debuts at 66-70% premium on NSE, BSE
- October 28, 2024 10:44
Markets Now: Sensex jumped 762.51 pts or 0.96% to 80,164.80 as at 10.26 am, and Nifty 50 gained 189.85ย pts or 0.79% to 24,370.65.
- October 28, 2024 10:37
Stock in focus: Brokerage firms boost Bandhan Bank ratings amid strong Q2 performance
Bandhan Bank has attracted positive attention from several brokerage houses following its robust performance in Q2, marked by significant profit growth and resilience in asset quality.
Jefferies initiated coverage with a โBuyโ rating and a target price of โน240. It noted a profit of โน9 billion, reflecting a 30 per cent year-on-year increase that exceeded expectations. Jefferies highlighted the bankโs conservative cooling-off period, a high share of unique borrowers, and improved credit scores, which have collectively contributed to the quality of microfinance institution loans.
- October 28, 2024 10:24
Stock market updates: Bharti Airtel Q2 preview: Consolidated net profit expected to grow multifold
Bharti Airtel (Airtel) is expected to report strong numbers for its second quarter (Q2) ending September 30, with multifold jump in its consolidated net profit compared to the same quarter of the previous financial year.
According to analysts, the companyโs revenue growth, EBITDA margins, finance costs, and most importantly average revenue per user (ARPU) will also be interesting to watch as its rival Reliance Jio has recently reported a seven per cent rise in its ARPU for the Q2 to โน195.
- October 28, 2024 10:19
Stock market live today: Deepak Builders stock listed at a discount of 1.5% on the NSE at โน200, against issue price of โน203
- October 28, 2024 10:18
Stock market live today: Veranda IAS partners with MOP Vaishnav College to launch Diploma in Governance and Policy Studies; shares steady at โน270.50 on NS
Veranda IAS, a Veranda Learning enterprise, announced its association with M.O.P. Vaishnav College for Women (Autonomous), a premier educational institution in Chennai. Both will jointly offer a Diploma in Governance and Policy Studies.
Veranda shares trade flat on the NSE at โน270.50
- October 28, 2024 09:53
Stock in focus: Indigo shares drop nearly 13% on lower earnings, fund houses cut target price
Indigo fell sharply on back of lower than expected earning with reduction in target prices from fund houses.ย
IndiGo shares plummet 12.94% on the BSE to โน3,800.
- October 28, 2024 09:44
Stock market live today: US stocks mixed as treasury yields rise; Nvidia surpasses Apple as most valuable company
Deepak Jasani, Head of Retail Research at HDFC Securitiesย
U.S. stocks closed mixed Friday as Treasury yields rose and investors weighed fresh economic data ahead of next weekโs jobs report. A rally in US stocks faded as banks dragged down the broader market despite gains in tech shares. Bitcoin slumped after a news report that federal investigators are probing cryptocurrency firm Tether. Banks got hit as New York Community Bancorp tumbled 8.3% on a weaker outlook.
Russiaโs central bank raised interest rate to 21% to fight inflation boosted by military spending. The central bank said in a statement that โgrowth in domestic demand is still significantly outstripping the capabilities to expand the supply of goods and services.โ Inflation, the statement said, โis running considerably above the Bank of Russiaโs July forecast,โ and โinflation expectations continue to increase.โ It held out the prospect of more rate increases in December.
Indiaโs foreign exchange reserves declined to $688 billion for the week ended Oct. 18, according to data from the Reserve Bank of India on Friday. The countryโs forex kitty fell by $2.2 billion over the previous reporting week.
Nvidia dethroned Apple as the worldโs most valuable company on Friday following a record-setting rally in the stock, powered by insatiable demand for its specialized artificial intelligence chips. Nvidiaโs stock market value briefly touched $3.53 trillion, slightly above Appleโs $3.52 trillion, LSEG data showed.
UBS Global Wealth Management has raised its stance on global equities to โattractiveโ from โneutralโ, citing resilient U.S. economic growth, monetary policy easing by major central banks and an artificial intelligence (AI) boom. โEconomic growth is remarkably resilient and central banks have been proactive, giving us confidence the supportive backdrop has more room to run,โ UBS analysts said in a note dated Thursday.
Crude oil futures fell Sunday, after widely-anticipated Israeli airstrikes against Iran did not hit crucial oil facilities. After initially dropping more than 5%, West Texas Intermediate crude was down 4.7%, to $68.39 a barrel, as of 9:30 p.m. Eastern, while Brent crude, the global benchmark, was down 4.5% to $72.21.
Chinaโs industrial profits plunged in September, recording the steepest monthly decline of the year, official data showed on Sunday, as policymakers ramp up stimulus to revitalise economic growth. Profits in September fell 27.1% from a year earlier, following a 17.8% fall in August, while earnings slipped 3.5% in the first nine months versus a 0.5% rise in the January-August period
Japanese stocks rose strongly on Monday as the yen sank to a three-month low after Prime Minister Shigeru Ishibaโs coalition lost its parliamentary majority in a drubbing in Sundayโs election, raising uncertainty over the path for policy and the economy. Other Asian markets were mostly in the green on Monday morning.
Nifty ended on a weak note on October 25 near two and half month lows despite the last hour bounce. It fell for the fifth consecutive session. It closed lower for the fourth consecutive week falling 2.71% over the week. Indian markets have fallen on all days of the week reeling under FPI selling pressure, weak Q2 results from most corporates and rising treasury yields in the US. Though a bounce in the markets is overdue, it needs reversal of selling pressure from FPIs and some sentiment stability in the local investor community. Nifty could now take support from 23892 while 24378 could prove to be tough to breach on the up in the near term.
- October 28, 2024 09:43
Stock market live today: Market correction spurs flight to quality; large caps remain steady amid volatility
V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
โA significant market trend during the recent days of market correction is the flight to quality. While the Nifty corrected by 8.3% from the recent peak, the mid and small cap indices corrected by 9.8% and 9.3% respectively from their recent peaks. Actually the index movements conceal the carnage in the mid and smallcaps where the correction has been above 30% in dozens of stocks and even by more than 40% in some momentum stocks. It is important to know that many largecaps are steady in this volatile market.
The trend of flight to quality is likely to sustain given the good numbers from banking majors like HDFC Bank and ICICI Bank where valuations continue to be fair. Investors can profit from these polarised valuations.
The global market structure may turn favourable after the subdued Israeli strikes against Iran avoiding the Iranian oil fields which has resulted in a sharp drop in crude prices. The imminent US presidential elections and the uncertainty associated with that will continue to weigh on markets.โ
- October 28, 2024 09:42
Stock market live today: Nifty shows signs of reversal; derivative activity observed among FIIs
Anand James, Chief Market Strategist, Geojit Financial Services.ย
Nifty outlook:
With Fridayโs closing hour managing to push Nifty above the initial two hourโs close when the selling intensity was at its highest, we now have initial signs of a reversal. The August low of 23894 will thus act as a downside marker for all upside attempts. However, we also expect rejection trades to resurface on pull back to 24350.ย
Derivative outlook:
Nifty weekly contract has highest open interest at 25000 for Calls and 23000 for Puts while monthly contracts have highest open interest at 25000 for Calls and 23000 for Puts. Highest new OI addition was seen at 25000 for Calls and 23000 for Puts in weekly and at 25000 for Calls and 23000 for Puts in monthly contracts. FIIs increased their future index long position holdings by 4.95%, decreased future index shorts by 2.93% and in index options, 35.88% increase in Call longs, 28.23% increase in Call short, 47.47% increase in Put longs and 29.05% increase in Put shorts
- October 28, 2024 09:41
HDFC Life Insurance gets order from Lucknow Commissioner; shares steady at โน710
HDFC Life Insurance Company has received an Order from the Additional Commissioner Grade โ II Appeal, Sectorโ1, Lucknow, Uttar Pradesh for the period July 2017 to March 2018 and FY 2018โ19.
Shares trade flat on the NSE at โน710
- October 28, 2024 09:39
Stock market live today: Ashapura Minechem found guilty in iron ore export case; shares drop 9.06% to โน276.10
Ashapura Minechem stated that the Court of LXXXI Additional City Civil and Sessions Judge at Bengaluru, has in the matter of State of Karnataka by CBI, ACB vs Mahesh Biliye & others regarding Iron Ore Exports, found Mallikarjun Shipping Pvt. Ltd, two other individuals and Ashapura Minechem Ltd. along with its Chairman guilty u/s 120-B, 420 and 379 of IPC.
Shares tumble 9.06% on the NSE to โน276.10
- October 28, 2024 09:38
Stock market live today: CG Power launches new process performance motors; shares flat at โน737
CG Power and Industrial Solutions is enhancing its portfolio through launch of process performance motors i.e. process performance CI AXELERA 3.0 and AXELERAโข 4.0 motors up to 7.5 Kw.ย
Shares trade flat on the NSE at โน737
- October 28, 2024 09:37
Nifty Today: Top gainers, losers at 9.30 a.m.
Top gainers on the NSE as at 9.30 am:
Shriram Finance (5.86%), ICICI Bank (2.77%), SBI (1.86%), BPCL (1.57%), hindalco (1.32%)
Top losers:
Coal India (-3.88%), ONGC (-2.54%), L&T (-1.02%), ITC (-0.93%), Bharti Airtel (-0.91%)
- October 28, 2024 09:37
Stock Recommendations: Brokerages on Shriram Finance
CLSA on Shriram Fin
O-P, TP Rs 3600
2Q25 net profit of Rs20.7bn was largely in line
AUM growth of 20% was driven by healthy 16% YoY growth in disbursements.
CV/CE segment disbursements were up in the mid-teens YoY while MSME disbursements nearly doubled
MS on Shriram Fin
OW. TP Rs 4200
Stable stressed asset creation amid increases across lenders, strengthening provision coverage, robust capital, healthy yet undemanding loan growth expectations, strong ROE with attractive headline & relative val all support as preferred pick
HSBC on Shriram Fin
Buy, TP raised to Rs 3725
2QFY25 performance reinforced view that SHFL is in its most convincing operating period since 2010
Delivery on all parameters was strong, guidance was re-iterated and there were no misses in asset quality or growth
GS on Shriram Fin
Buy, TP Rs 3557
An in-line quarter across different line itemsย
with stable asset quality & expansion of ROAs by 3bps QoQ, which is reassuring in a tough macro environment
Reported in-line credit costs with a healthy outlook & guidance to improve GS3 in 2H
- October 28, 2024 09:36
Stock Recommendations: Brokerages on Bandhan Bank
Jefferies on Bandhan BK
Buy, TP Rs 240
2Q profit of Rs9bn, up 30% YoY, not only beat est. but quality of MFI loans has held-up well
Conservative cooling-off period, high share of unique borrowers, hike in credit-score & slower growth over 2yrs have paid-off.
Macquarie on Bandhan BK
O-P, TP Rs 250
PAT miss due to higher opex, partly offset by lower credit costs
All eyes on forward flow into stress pool.
Management targets credit costs of 1.8%-2% in FY25F
Valuations (1x FY26F P/B), risk reward appears favourableย
CLSA on Bandhan BK
O-P, TP Rs 240
Asset quality better than feared
Slippages range bound, +ve sign in microfinance biz
While there are fears of โkitchen-sinkingโ, derive comfort from recent audit as well as fact that Bandhan recognised more stress than peers over FY23 & FY24
Nomura on Bandhan BK
Upgrade to Neutral, TP Rs 180
Steady show in tough environment
Benign valuations but challenging MFI sector outlook keeps us cautious
Healthy loan and deposits growth; asset quality deteriorates on higher slippages
Kotak Inst Eqt on Bandhan BK
Buy, TP Rs 250
Healthy 30% yoy earnings growth, led by 17% yoy operating profit growth & about 5% yoy decline in provisions
Slippages 3.5%, while credit cost 2%
Early warning indicators suggest Bks portfolio could be resilient in this MFI cycle
- October 28, 2024 09:36
Stock Recommendations: Brokerages on Bank of Baroda
HSBC on Bk of Baroda
Hold, TP Rs 270
2Q : High non-core income offset pressure from NIM, fee income, & ad hoc provisions; asset quality stable
Over FY25-27e, expect stable operating profitability, but credit cost normalisation will likely impact ROA
EPS growth outlook muted
Nomura on Bk of Baroda
Buy, TP Rs 290
Healthy RoA delivery; steady asset quality
Favourable risk-reward
Steady asset quality; strong loan growth delivery. Softer core fees the only blip
Expect to deliver RoA of 1.1% & ROE of 15-16% over FY25F-27F
Jefferies on Bk of Baroda
Buy, TP Rs 310
Profit of Rs52bn, up 23% YoY & higher than est.
While loan growth improved to 12% YoY, NII growth lagged at 7% due to fall in NIMs & are disappointed with 18% fall in fees
Deposit growth is slow at 9%ย
Credit quality held-up well
- October 28, 2024 09:35
Stock Recommendations: Brokerages on IDFC First Bank
GS on IDFC First BK
Sell, TP Rs 64
2Q PAT miss of 71% vs est. driven by sharp uptick in credit costs to c3.2% (+130bps QoQ & +120bps vs GSe) as co created contingent provisions of Rs3.15bn towards stress in MFI book & Rs2.53bn towards accelerated provisioning of legacy toll a/c
Asset Quality saw a sharp deteriorationย
Core PPOP for the bank grew by 28% yoy/stable qoq (-7% vs GSe) as NII and non-interest income were lower which was partially offset by lower opex in 2Q
MOSL on IDFC First Bk
Neutral, TP Rs 73
PPoP inline; elevated provisioning drags earnings
Credit cost guidance raised to 2.2-2.25%
Deposits growth robust; margin moderates 4bp QoQ
Cut earnings by 18%/5% for FY25E/26E & est. FY26E RoA/RoE of 1.0%/11.0%
- October 28, 2024 09:35
Stock Recommendations: Brokerages on ICICI Bank
CLSA on ICICI BK
O-P, TP Rs 1600
Delivered yet another steady qtr
B/S growth remained in mid-teens, while NIM moderated 5-10bps sequentially
PPOP grew faster than NII, driven by operating leverage GNPL ratio stable & credit costs benign at 40bps
MOSL on ICICI BK
Buy, TP Rs 1500
All-round performance; solidifies its leadership position
Asset quality improves slightly; cost control impressive
Business growth robust; NIMs moderate 9bp QoQ
Increase EPS est. by 2.8%/1.8% for FY25/FY26 & est. RoA/RoE of 2.19%/17.4% in FY26.
Nomura on ICICI BK
Buy, TP Raised to Rs 1575
Flawless quarter; a cut above the rest
Strong loan and deposits growth; robust asset quality performance
Raise FY25-27F EPS est. by 2-3%, factoring in lower opex & slightly lower credit cost
GS on ICICI BK
Neutral, TP Rs 1361
Qood quality earnings beat in a tough macro
Slippages better than expectations while credit cost was c.40bps of loans, in line
On operational profits as well, bank managed to surprise +vely with core PPOP growth of 12% YOY, 3% higher than GSe
- October 28, 2024 09:34
Stock recommendations: Nomura on BEL
Buy, TP Rs 363
2Q: EBITDA margin at 30.3% (vs esti: 24.4%)
2Q better than expected, mainly driven by +ve surprise on gross margin, which was up by 449bp y-y
Notably, BELโs gross margin has remained strong in past 5 qtrs. averaging 49%
- October 28, 2024 09:34
Stock recommendations: MS on JSW Steel
OW, TP Rs 1150
Results beat estimate/consensus.
Standalone volumes and costs did better, partially offset by lower realizations, as share of VAP moderated.
Global subsidiariesโ performances were relatively muted given the weak global environment
- October 28, 2024 09:34
Stock market live today: Kotak Inst Eqt on BKT
Sell. TP Rs 2375
2Q adjusted EBITDA of Rs6.2 bn, 15% above est, driven by a higher-than-expected vol & lower other expenses
Near-term demand outlook for off-highway segment remains muted in EU & US regions
Valuations remain expensive
- October 28, 2024 09:32
Stock Recommendations: Brokerages on MGL
Jefferies on MGL
Buy, TP Cut to Rs 1740
Ebitda inline with JEFe with vols 3% ahead & Ebitda margins slightly below ests
Expect strong vol growth to continue on accelerated RO additions & upgrade FY25/26E vol assumptions by 4%-7%.
Realloc of APM gas wld lead to higher volatility
Nomura on MGL
Downgrade to reduce, TP Rs 1250
2Q below estimates; near term outlook weak & change in policy a concern
2Q missed estimates on lower margins, while vol growth sustains at a strong clip
Management remains optimistic on healthy vol growth of 10% in FY25
- October 28, 2024 09:31
Stock recommendations: Brokerages on HPCL
CITI on HPCL
Buy, TP Rs 420
Subdued 2Q with EBITDA at Rs22bn which, whilst up 38% qoq, was below Rs37bn est.ย
Miss was on a/c of a multitude of factors, all of which may reverse course in 2H โย
Debt also saw unexpected jump in 2Q, which too had an element of 1-offs as per mgmt.
Nomura on HPCL
Buy, TP Rs 435
2Q impacted by LPG under-recoveries & lower refining margins
Vizag bottom upgradation and Rajasthan refinery to be commissioned by end-FY25
Cut FY25F EBITDA by 25% to reflect HPCLโs 1H performance & factoring higher LPG under recoveries
- October 28, 2024 09:31
Stock Recommendations: Brokerages on Torrent Pharma
Jefferies on Torrent Pharma
Buy, TP raised to Rs 3850
2Q revenue and Ebitda grew 9% & 14% YoY
India sales grew 13% YoY which drove gross margins to a multi year high
Qtr impacted by inslulin plant shutdown, adjusted for which rev & Ebitda grew 10% & 16%
CLSA on Torrent Pharma
Hold, TP Rs 3090
2Q missed est due to shutdown of its insulin plant Expected to restart in Dec 2024 & to recover shortfall with no impact on its FY25 rev
Maintained guidance of double-digit rev growth & 50bp-100bp EBIDTA margin expansion in FY25
HSBC on Torrent Pharma
Buy, TP Rs 4035
Positive gross margin surprise despite c4% rev miss on scheduled shutdown of insulin plant
EBITDA margin outlook remains robustย
Consistent market share gains (incl. inorganic) in India a potential catalyst
Nomura on Torrent Pharma
Neutral, TP raised to Rs 3621
2Q in-line
A defensive stock with strong earnings visibility; higher val can sustain in near term
EBITDA margin expanded 149bp y-y & in-lineย
Management retained its guidance of EBITDA margin expansion of 50-100bp each yr
- October 28, 2024 09:30
Stock recommendaitons: Brokerages on Interglobe Aviation
Kotak Inst Eqt on Interglobe Aviation
Buy, TP Rs 5200
Sharp miss in PBT driven by transient issuesโgroundings & related compensation, as well as unexpected fuel inflation
Another overhang was heightened seasonalityย
Overall demand trends remain healthy
Lower FY2027 est. by 10%
MOSL on Interglobe Aviation
Neutral, TP Rs 4130
Net loss led by seasonality but guidance remains intact
Currently, over 60 aircraft are grounded due to P&W engine issues, & management believes this number would be in mid-40s in FY26
Trading at 10x FY26E EV/EBITDAR
Jefferies on Interglobe Aviation
2Q PAT loss worse than est at Rs9.9bn (est: Rs3.5bn)
Driven by higher costs of groundings & related (inefficient) capacity mitigating measures
IndiGoโs story, however, remains intactย
GS on Interglobe Aviation
Buy, TP cut to Rs 4800
Q2 EPS of Rs(25.7) & PBT(ex-FX) of Rs(17.3) below GSe
While ASK/RPK largely in-line, yields were 2.5% above GSe (up 2.5% yoy, vs GSe at flat yoy), driving a revenue beat, CASK were higher than GSe, driven by higher fuel & lease exp
- October 28, 2024 09:30
Stpcl Recommendations: Brokerages on CreditAccess
CLSA on CreditAccess
Downgrade to Hold, TP cut to Rs 910 from Rs1800
2Q net profit halved YoY/QoQ, dragged down by an elevated 6.5% (annualised) credit cost
Management trimmed its loan growth guidance to 8%-12% & raised its credit cost guidance to 4.5-5% for FY25CL
Nomura on CreditAccess
Reduce, TP Rs 850
Q2 PAT of Rs 1.9bn, down 46%/ 53% y-y/ q-q (35% below est.), leading to RoA/RoE of 2.6%/10.7% (vs 5.5%/ 24.7% in 2Q24)
Credit cost at 7% in 2Q (vs 2.8% in 1Q)higher than 5% est.ย
Guidance revised sharply across metrics
- October 28, 2024 09:29
Currency market updates: Rupee open flat at 84.08 against US dollar in early trade
The rupee witnessed range-bound trade and appreciated by just 1 paisa to 84.07 against the US dollar in initial deals on Monday, weighed down by significant foreign fund outflows and the strength of the American currency in the overseas market.
- October 28, 2024 09:27
Tech calls: What is the outlook for Manappuram Finance, NHPC, SBI Cards and Payment Services?
We zoom in on the prospects of Manappuram Finance, as also the prospects of two other stocks โ NHPC,andSBI Cards and Payment Service
- October 28, 2024 09:24
Commodities market updates: Crude Oil futures decline after Israel-Iran tensions ease supply concerns
Crude oil futures traded lower on Monday morning after Israelโs retaliatory attack on Iran over the weekend, which avoided oil and nuclear facilities. This eased the market concerns about possible crude oil supply disruptions in the West Asia region. At 9.17 am on Monday, January Brent oil futures were at $72.40, down by 4.27 per cent, and December crude oil futures on WTI (West Texas Intermediate) were at $68.60, down by 4.43 per cent. November crude oil futures were trading at โน5782 on Multi Commodity Exchange (MCX) during the initial hour of trading on Monday against the previous close of โน6040, down by 4.27 per cent, and December futures were trading at โน5776 against the previous close of โน6023, down by 4.10 per cent.
- October 28, 2024 09:23
Stock market live today: OPENING BELL: Sensex, Nifty open higher; Only 15% of NSE stocks above 50-DMA
Indian benchmark indices Sensex and Nifty opened positively on Monday, with Sensex up 0.43% at 79,741.46 and Nifty gaining 0.33% at 24,261.15, amid mixed global cues. Despite this, sentiment remains cautious, influenced by sustained FII selling and weak earnings, said Ajit Mishra, SVP at Religare Broking. Foreign Portfolio Investors (FPIs) have sold โน1,02,931 crore in October, impacting market momentum.ย
- October 28, 2024 09:01
Currency Outlook: Dollar retains momentum
The dollar index rallied for the fourth consecutive week and is keeping intact the overall uptrend. The index has risen breaking above the resistance at 104. It closed the week at 104.25, up 0.74 per cent. A strong rise in the US Treasury yields is aiding the greenback to retain its strength. Markets turning slightly cautious ahead of the US Presidential Election next month is also giving the dollar a safe-haven support. The uptrend is strong, and we expect the rally in the dollar to continue for another couple of weeks until the outcome of the US elections is known.
- October 28, 2024 08:59
Stock Recommendations: Sudarshan Chemical: What should investors do?
Sudarshan Chemical (SCIL) announced a large acquisition of Germany-based Heubach Group at a highly discounted valuation on October 11. The speciality chemicals player manufactures colour pigments and is the largest domestic player.
While the leap the company has made is commendable and at the opportune moment, investors may hold the stock till further details emerge. The roadmap in turning around the acquisition, part of which turned insolvent, and incremental growth from the acquisition need to be articulated by the company before investing in the stock. The stock trading at 28 times one-year forward earnings also captures the deal enthusiasm and the company prospects in the long term.
- October 28, 2024 08:58
Movers & Shakers: Stocks that will see action this week
Here is what the charts say about the shares of Crompton Greaves Consumer Electricals, Inox Wind and Trent
- October 28, 2024 08:55
Derivatives: F&O Tracker: Index futures testing a support
Nifty 50 (24,181) and Bank Nifty (50,787) depreciated 2.7 per cent and 2.5 per cent last week. The former posted a weekly loss for the fourth time in a row, indicating strong selling pressure. Here, we analyse derivatives data of both indices.
- October 28, 2024 08:53
Derivatives market: F&O Strategy: IndusInd Bank: Bull call spread
The sharp decline on Friday has changed the outlook to negative for the stock of IndusInd Bank (โน1,041.60). Support levels are at โน990 and โน807. A close below the latter will even change the long-term outlook to negative.
- October 28, 2024 08:53
Stock Recommendations: NTPC: Structural drivers and a long runway still intact
In the quarter ended September 2024, NTPCโs consolidated revenue from operations and EBITDA dipped around 8 per cent each year on year to โน44,696.3 crore and โน11,655.2 crore respectively. After the results announcement last Thursday post-market hours, the stock dropped 3 per cent on Friday. In fact, the shares of NTPC have corrected 11 per cent from its 52-week high of โน443.2 recorded on September 30, 2024. However, on the back of strong tailwinds, BSE Power had a stellar run during the last 12 months, rising 80 per cent. NTPC too, in line, recorded a 72 per cent rise during the same period.
- October 28, 2024 08:51
Commodities market updates: Where is gold headed and whatโs the best way to buy gold this Diwali?
Following Dusshera, the festival season peaks in the coming week, with Dhanteras and Diwali round the corner. As we start celebrating the festival of wealth and prosperity, gold continues to shine as a symbol of tradition. This year, the fireworks started early for gold investors with prices on a steady rise since the beginning of 2024.
- October 28, 2024 08:51
Sectoral insights: The IT party is long over, but investors continue to hang around
โ Wu ji bi fanโ as Jacki Chan says in Karate Kid, that is, when things reach an extreme, they can only move in the opposite direction. As did the IT stocks and Nifty IT Index after peaking in a frenzy in early 2022. However, in the last one year, they have attempted a strong recovery piggy-backing on the AI theme, and Nifty IT is now 6.5 per cent above the 2022 peak. It is not clear though if this will sustain. While recent Q2 results indicate the slowdown may have bottomed out, the pace of revenue growth still remains underwhelming.
- October 28, 2024 08:48
Stock market live today: NSE relaxes rules for inactive trading accounts
The National Stock Exchange (NSE) has relaxed the definition of what constitutes an inactive trading account.ย
The period for marking an account as inactive has been changed from 12 to 24 months. Existing clients who are inactive as per earlier guidelines, but are active as per revised guidelines, may be considered as active for trading after updating their details, the exchange said in a circular on Friday.ย
- October 28, 2024 08:44
Stock recommendations: Fund Houses Recommendationsย
Jefferies on ICICI Bank: Maintain Buy on Bank, raise target price at Rs 1550/Sh from Rs 1460/Sh (Positive)
Investec on ICICI Bank: Maintain Buy on Bank, raise target price at Rs 1450/Sh from Rs 1350/Sh (Positive)
MOSL on ICICI Bank: Maintain Buy on Bank, raise target price at Rs 1500/Sh from Rs 1400/Sh (Positive)
Nomura on ICICI Bank: Maintain Buy on Bank, raise target price at Rs 1575/Sh from Rs 1420/Sh (Positive)
Macquarie on ICICI Bank: Maintain Buy on Bank, raise target price at Rs 1350/Sh from Rs 1300/Sh (Positive)
Citi on ICICI Bank: Maintain Buy on Bank, raise target price at Rs 1600/Sh from Rs 1547/Sh (Positive)
IIFL on ICICI Bank: Upgrade to Buy on Bank, raise target price at Rs 1480/Sh from Rs 1370/Sh (Positive)
CLSA on Bandhan Bank: Maintain Outperform on Bank, target price at Rs 240/Sh (Positive)
Nomura on Bandhan Bank: Upgrade to Neutral on Bank, raise target price at Rs 180/Sh (Positive)
HSBC on Shriram Fin: Maintain Buy on Company, raise target price at Rs 3275/Sh (Positive)
Nomura on Shriram Fin: Maintain Buy on Company, raise target price at Rs 3800/Sh (Positive)
Jefferies on Indigo: Maintains Buy on Company, cut target price at Rs 5100/Sh (Neutral)
Kotak on Indigo: Maintains Buy on Company, cut target price at Rs 5200/Sh (Neutral)
HSBC on Bank Baroda: Maintains Hold on Bank, target price at Rs 270/Sh (Neutral)
Investec on Bank Baroda: Maintains Hold on Bank, cut target price at Rs 260/Sh (Neutral)
IIFL on Bank Baroda: Maintains Buy on Bank, cut target price at Rs 300/Sh (Neutral)
Nomura on Bank Baroda: Maintains Buy on Bank, raise target price at Rs 290/Sh (Neutral)
HSBC on OLA Elec: Maintains Buy on Company, cut target price at Rs 110/Sh (Neutral)
UBS on HPCL: Maintains Buy on Company, target price at Rs 445/Sh (Neutral)
MS on JSW Steel: Maintains Overweight on Company, target price at Rs 1150/Sh (Neutral)
Jefferies on Coal Ind: Maintains Buy on Company, cut target price at Rs 570/Sh (Neutral)
Jefferies on MGL: Maintains Buy on Company, target price at Rs 1740/Sh (Neutral)
MOSL on IDFC First Bank: Maintain Neutral on Bank, target price at Rs 73/Sh (Neutral)
Nuvama on IDFC First Bank: Maintain Hold on Bank, cut target price at Rs 60/Sh (Negative)
CLSA on REC: Maintain Outperform on Company, target price at Rs 680/Sh (Positive)ย
Jefferies on JSW Energy: Maintain Buy on Company, target price at Rs 860/Sh (Positive)ย
Citi on ICICI Bank: Maintain Buy on Bank, raise target price at Rs 1600/Sh (Positive)ย
Macquarie on Bandhan Bank: Maintain Buy on Bank, target price at Rs 250/Sh (Positive)ย
Citi on HPCL: Maintain Buy on Company, target price at Rs 420/Sh (Neutral)ย
Kotak on JSW Steel: Maintain Reduce on Company, target price at Rs 925/Sh (Neutral)ย
CLSA on Credit Access: Downgrade to Hold on Company, cut target price at Rs 910/Sh (Negative)
- October 28, 2024 08:43
Stock market live today: Om Infra wins โน410 cr infrastructure project in Jammu and Kashmir
- October 28, 2024 08:37
Stock market live today: PPFAS to launch GIFT City subsidiary in six months, eyes foreign investment
PPFAS Asset Management is looking to set up a subsidiary in GIFT City and expects to launch operations there in the next six months, Rajeev Thakkar, Chief Investment Officer and Director, has said.ย
โWe are setting up a subsidiary in GIFT City. We have applied to GIFT city regulator for subsidiary registration. The first product from this subsidiary could come in six monthsโ, Thakkar told businessline in an interview.ย
- October 28, 2024 08:27
IPO Watch: Deepak Builders lists today after 41.54x IPO subscription
Shares of Deepak Builders and Engineers will be listed at the bourses today. The IPO, which subscribed around 41.54 times, set the price at โน192-203, at the upper end of the price range.ย
The initial public offering of Deepak Builders and Engineers closed with an overall subscription of 41.54 times, as non-institutional and retail investors poured in money. The โน260.04 crore comprised a fresh issue (โน217.21 crore) and an OFS (โน42.83 crore).ย
- October 28, 2024 08:22
IPO Watch: Waaree Energies to debut on NSE, BSE after IPO subscription of 76.4 times
Shares of Waaree Energies will be listed at the exchanges on Monday. The company has fixed the IPO price at โน1,503, and at the upper end of the price band, โน1,427-1,503. The IPO generated a strong response from all categories of investors, especially institutional investors, who subscribed 76.4 times.ย
โOur Company has filed the listing application with the NSE and BSE on October 25, 2024. Our company has received the listing and trading approval from BSE and NSE and the trading will commence on October 28, 2024,โ it said in a release to the exchanges.
- October 28, 2024 08:01
Stock market live updates: OPENING BID: Markets set for positive start amid mixed global trends
Domestic markets are expected to open positive on Monday amid mixed global cues. According to deep discount broker, SAS Onlineโs breadth analysis, Only 15 per cent of NSE stocks are trading above their 50-day moving average, and just 9 per cent are above their 20-day moving average, suggesting a possible relief but overall, a strong bearish grip. The brokerage said the number of stocks with RSI in the bullish zone has dropped to 20%, indicating exhaustion in upward momentum. Additionally, the Bull Bear Index of trend indicators like MACD also points to muted breadth, it further said.
- October 28, 2024 07:48
Stock market live updates: Shree Renuka Sugars boosts capacity with โน184 cr investment for expansion and new power plant
SHREE RENUKA SUGARS: CO UNIT APPROVED THE CAPEX INVESTMENT OF RUPEES 184 CR FOR THE EXPANSION IN THE CANE CRUSHING CAPACITY FROM 4,000 TCD TO 7,000 TCD AND SETTING UP OF 15 MW POWER PLANT AT UNITโS PLANT
- October 28, 2024 07:46
Buzzing Stocks Today: Stocks that will see action today: October 28, 2024
ITD Cementation, Adani Enterprises, Piramal Pharma, Soha, Axis Bank, Max Financial, Thermax, L&T, KRN Heat Exchanger, Kings Infra, Godrej Properties, Sprayking, Bharti Airtel, Sun Pharma, Adani Power, Indian Oil, Ambuja Cements, Punjab National Bank, Suzlon Energy, BHEL, Indian Bank, JSW Infra Motilal Oswal, Tata Tech, BPCL, Oil India, DMart
- October 28, 2024 07:39
Stock market updates: Archean Chemical secures ยฃ15 mn for Wafer Fab and $12 mn for energy labs investments
ARCHEAN CHEMICAL: CO APPROVES GBP 15M (163 CR RUPEES) INVESTMENT IN CLAS-SIC WAFER FAB (UK) AND USD 12M (130 CR RUPEES) IN OFFGRID ENERGY LABS (US) TO ADVANCE SEMICONDUCTOR AND ENERGY STORAGE INITIATIVES
- October 28, 2024 07:38
Stock market updates: Researchbytes Events Update As of 07:17 AM Monday 28 October 2024
9:00 AM SBFC Finance
Dial: +91 22 6280 1144
10:00 AM REC
Dial: +91 22 6280 1146
10:00 AM Rainbow Childrens Medica
(Investor/Analyst Presentation, Press Release )
Dial: +91 22 6280 1259
10:00 AM cholamandalam investment & finance company
(Results, Press Release )
Dial: +91 22 7195 0000
10:15 AM Castrol
Dial: +91 22 6280 1164
10:30 AM Syrma SGS Techn
(Results, Investor/Analyst Presentation, Press Release )
Dial: +91 22 62801384
11:00 AM Texmaco Rail
Dial: +91 22 6280 1144
11:00 AM BPCL
Dial: +91 22 6280 1342
11:00 AM Meghmani Org
Dial: +91 22 6280 1466
11:00 AM Arihant Capital
Dial: +91 22 6280 1466
11:00 AM Mahindra Life
Dial: +91 22 6280 1522
11:00 AM Kewal Kiran
(Results, Investor/Analyst Presentation, Press Release )
Dial: +91 22 6280 1545
11:30 AM Apollo Pipes
Dial: +91 22 6280 1384
12:00 PM Max Estates
Dial: +91 22 6280 1225
12:00 PM Godawari Power
Dial: +91 22 6280 1325
12:00 PM Praj Industries
Dial: +91 22 6280 1341
( Hosted by Valorem )
12:00 PM Nuvama Wealth M
Dial: +912262801123
12:30 PM CMS Info Systems Limited
Dial: +91 22 6280 1146
1:00 PM Macrotech Developers
Dial: +91 22 6280 1197
1:30 PM Krsnaa Diagnost
Dial: +91226280 1366
2:00 PM ACC
No Contact Available
Please check again for details @ www.researchbytes.comย
2:00 PM Hester Bios
2:00 PM Shakti Pumps
Dial: +91 22 6280 1107ย
2:00 PM Ambuja Cements
Dial: +91 22 6280 1149
2:00 PM Sanghi Ind
Dial: +91 22 6280 1149
2:00 PM CarTrade Tech
Dial: +91 22 6280 1309
2:00 PM Arihant Super
Dial: +91 22 6280 1466ย
3:30 PM Rushil Decor
Dial: +91 22 6280 1317
3:30 PM Supriya Life
Dial: +91 22 6280 1550ย
4:00 PM Orient Bell
Dial: +91 22 6280 1256
4:00 PM Sharda Crop
(Results, Investor/Analyst Presentation)
Dial: +91 22 6280 1342ย
4:00 PM Gensol Engineer
Dial: +91 22 6280 1107
4:00 PM Ajmera Realty
Dial: +91 22 6280 1223
4:00 PM Arvind
Dial: +91 22 6280 1227ย
4:00 PM SEJAL GLASS LIM
Dial: +91 22 6280 1239ย
4:00 PM Sezal Glass
Dial: +91 22 6280 1239ย
4:00 PM Control Print
Dial: +91 22 6280 1317ย
4:00 PM Firstsource Sol
Dial: +91 22 6280 1356
4:00 PM Tara Chand InfraLogisti
Dial: +91 22 6280 1361
4:00 PM Welspun India
Dial: +91226280 1366
4:30 PM InfoBeans Techn
4:30 PM TAEL
Dial: +91 22 6280 1459
4:30 PM PNB
Dial: + 91 22 6280 1123
4:30 PM Jain Irrigation
Dial: +91 22 6280 1136
4:30 PM ICRA
Dial: +91 22 6280 1159
4:30 PM Ajanta Pharma
Dial: +91 22 6280 1542
4:30 PM Sapphire Foods
Dial: +91 22 6280 1550
5:00 PM Kaya
Dial: +91 22 6280 1116ย
5:00 PM JSW Infrastructure Ltd
Dial: +91 22 6280 1144
5:00 PM North Arc Ca
Dial: +91 22 6280 1144
5:00 PM Hariom Pipe
Dial: +91 22 6280 1149
5:00 PM Aarti Pharmalab
Dial: +91 22 6280 1341
( Hosted by Valorem )
5:00 PM Kamat Hotels
Dial: +91 22 6280 1341
( Hosted by Valorem )
6:00 PM Indian Bank
6:00 PM Tata Technologi
Dial: +91 22 6280 1124
6:00 PM Spandana Sphoor
Dial: +91 22 6280 1309
6:30 PM Sun Pharma
Dial: +91 22 6629 0049
6:45 PM Federal Bank
Dial: +91 22 6280 1270
- October 28, 2024 07:21
Stock market updates: Q2FY25 EARNING CALENDAR 29.10.2024ย
ABDL, ADANIENT, ADANIPORTS, AMIORG, APARINDS, APLAPOLLO, ASAHIINDIA, ASKAUTOLTD, BLUEJET, CANBK, CGCL, CIPLA, CONCOR, DEEPAKFERT, EDELWEISS, EMUDHRA, ENGINERSIN, FIVESTAR, FLUOROCHEM, FORCEMOT, GENUSPOWER, GHCL, GODREJAGRO, GREENLAM, HCC, HONAUT, HUDCO, KAYNES, KINGFA, KIRLOSBROS, LXCHEM, MANYAVAR, MARICO, MARUTI, MOTISONS, MPSLTD, MTARTECH, PCBL, PDSL, POWERINDIA, PRESTIGE, REDINGTON, SBICARD, SFL, SHAREINDIA, SOMANYCERA, SSWL, STARHEALTH, SUVEN, SYMPHONY, TDPOWERSYS, TIRUMALCHM, UDS, VAKRANGEE, VASCONEQ, VGUARD, VMART, VOLTAS, WEBELSOLAR
- October 28, 2024 07:21
Stock market updates: Q1FY25 EARNING CALENDAR 28.10.2024
AARTIPHARM, ABSLAMC,ADFFOODS, ADANIPOWER, AJANTPHARM, AJMERA, AMBUJACEM, ANANTRAJ, ARVIND, ARVINDFASN, BHARATWIRE, BHARTIARTL, BHARTIHEXA, BHEL, CAMS, CARTRADE, COCKERILL, DALMIASUG, DPABHUSHAN, DEEPINDS, ELANTAS, FEDERALBNK, FSL, GAEL, GALLANTT, GENESYS, GILLETTE, GREENPANEL, GREENPLY, HEIDELBERG, IDEAFORGE, IGL, INDGN, INDIANB, INTERARCH, IOC, JBMA, JISLJALEQS, JKIL, JSWINFRA, KFINTECH, KPIL, KSL, LGBBROSLTD, LICHSGFIN, LMW, MAHSEAMLES, MOTILALOFS, NESCO, NILKAMAL, NOCIL, NORTHARC, PARADEEP, PARAS, PFIZER, PNB, POLYMED, QUESS, RAILTEL, RAMRAT, RBA, RENUKA, SAPPHIRE, SHAILY, SIS, SJS, SKIPPER, SPANDANA, STOVEKRAFT, STYRENIX, SUDARSCHEM, SUMICHEM, SUNPHARMA, SUPRIYA, TATATECH,TMD, UNIECOM, VESUVIUS, WELSPUNLIV
AMBUJACEM
* Revenue expected at Rs 6621 crore versus 7424 Rs crore
* EBITDA expected to be seen at Rs 904 crore versus Rs 1305 crore
* EBITDA margin expected to be seen at 13.65% versus 17.59%ย
* Net profit expected to be seen at Rs 457 crore versus Rs 793 crore
BHARTIARTL
* Revenue expected at Rs 41218 crore versus 37043 Rs crore
* EBITDA expected to be seen at Rs 21729 crore versus Rs 19513 crore
* EBITDA margin expected to be seen at 52.71% versus 52.68%ย
* Net profit expected to be seen at Rs 4719 crore versus Rs 2911 crore
BHEL
* Revenue expected at Rs 5970 crore versus 4944 Rs crore
* EBITDA expected to be seen at Rs -23 crore versus Rs -387 crore
* EBITDA margin expected to be seen at -0.38% versus -7.84%ย
* Net profit expected to be seen at Rs -62 crore versus Rs -238 crore
FEDERALBNK
* NII expected at Rs 2377 crore versus 2056 Rs crore
* EBIT expected to be seen at Rs 1489 crore versus Rs 1324 crore
* EBIT margin expected to be seen at 62.75% versus 64.41%
* Net profit expected to be seen at Rs 1001 crore versus Rs 953 crore
IGL
* Revenue expected at Rs 3629 crore versus 3822 Rs crore
* EBITDA expected to be seen at Rs 592 crore versus Rs 656 crore
* EBITDA margin expected to be seen at 16.31% versus 17.19%ย
* Net profit expected to be seen at Rs 460 crore versus Rs 552 crore
IOC
* Revenue expected at Rs 183212 crore versus 193844 Rs crore
* Net profit expected to be seen at Rs 4177 crore versus Rs 3528 crore
LICHSGFIN
* NII expected at Rs 2055 crore versus 2152 Rs crore
* EBIT expected to be seen at Rs 1816 crore versus Rs 1893 crore
* EBIT margin expected to be seen at 84.38% versus 87.95%ย
* Net profit expected to be seen at Rs 1207 crore versus Rs 1188 crore
SUMICHEMย
* Revenue expected at Rs 1021 crore versus Rs 903 crore
* EBITDA expected to be seen at Rs 214 crore versus Rs 187 crore
* EBITDA margin expected to be seen at 20.95% versus 20.70%ย
* Net profit expected to be seen at Rs 162 crore versus Rs 143 crore
SUNPHARMAย
* Revenue expected at Rs 13326 crore versus Rs 12192 crore
* EBITDA expected to be seen at Rs 3761 crore versus Rs 3213 crore
* EBITDA margin expected to be seen at 28.22% versus 26.36%ย
* Net profit expected to be seen at Rs 2911 crore versus Rs 2375 crore
TATATECHย
* Revenue expected at Rs 1307 crore versus Rs 1269 crore
* EBIT expected to be seen at Rs 210 crore versus Rs 201 crore
* EBIT margin expected to be seen at 16.06% versus 15.87%ย
* Net profit expected to be seen at Rs 174 crore versus Rs 162 crore
- October 28, 2024 07:21
Stock market updates: Securities in F&O Ban For Trade Date 28-October-2024
* AARTIIND
* BANDHANBNK
* DIXON
* ESCORTS
* IDFCFIRSTB
* INDIAMART
* LTF
* MANAPPURAM
* NMDC
* RBLBANK
- October 28, 2024 07:19
Stock market updates: ๐๐๐ฌ๐ก ๐๐๐ซ๐ค๐๐ญ ๐๐๐ญ๐๐ข๐ฅ๐ฌ ๐๐จ๐ซ ๐๐๐ญ๐จ๐๐๐ซ, ๐๐๐๐ ๐ญ๐ข๐ฅ๐ฅ ๐๐๐ญ๐
๐ ๐๐๐ฌ sold : โน1,00,242 crore ๐ด
๐๐๐๐ฌ bought : โน97,091 crore ๐ข
#FIIs have done the highest selling in any Month ever.
๐๐ง ๐๐๐๐ซ ๐๐๐๐ ๐ฌ๐จ ๐๐๐ซ :-
๐ ๐๐๐ฌ sold : โน2,25,275 crore ๐ด
๐๐๐๐ฌ bought : โน4,37,703 crore ๐ข
- October 28, 2024 07:18
Stock market updates: IDFC First Bank 2QFY25 Earnings
- October 28, 2024 07:17
Stock market updates: REC 2QFY25 Earnings
- October 28, 2024 07:15
ย Stock market live today: Weekly Equity Cash and Derivative Coverageย
Weekly snapshot: Indian equity benchmarks closed in the red zone while broader markets underperformed as mid and small cap stocks fell sharply during the week.ย
Indices Performance: Nifty 50 has closed with a loss of 2.71 percent while Nifty Bank performed inline and closed with a loss of 2.51 percent.ย
Weekly Fund-Flow Activities: During the week, Foreign Institutional Investors have sold equities worth of Rs 20024.0 cr while Domestic Institutional Investors have bought equities of Rs 22915.0 cr in cash segment.ย
Macro Data: Inflation based on the core price index and nonfarm payrolls for the U.S., monetary policy from Bank of Japan, and manufacturing PMIs from major global economies are among the macroeconomic events scheduled for the upcoming weekย
Weekly Outlook: The next week is expected to be a week of watching quarterly earnings and institutional activities, in addition to macro announcements and U.S elections.
- October 28, 2024 07:14
Stock market updates: ICICI Bank 2QFY25 Earnings
Net Profit at Rs 11746 cr vs poll of Rs 11029 cr
NII at Rs 20048 cr vs poll of Rs 19995 cr.ย
Gross NPA at 1.97% vs 2.15% QoQ.ย
Net NPA at 0.42% vs 0.43% QoQ.ย
Net Interest Margin at 4.27% vs 4.36% QoQ.ย
Gross slippages at Rs 5073 cr vs poll of Rs 5916 cr.ย
- October 28, 2024 07:14
Stock market updates: Yes Bank Q2 numbersย ย
Net Profit at Rs 553 cr vs poll of Rs 544 crย
NII at Rs 2200 cr vs poll of Rs 2254 cr.ย
Gross NPA at 1.6% vs 1.7% QoQ.ย
Net NPA at 0.5% vs 0.5% QoQ.ย
- October 28, 2024 07:13
Stock market live today: Listing of Waaree Energies Limited on 28th October, 2024ย
Symbol: WAAREEENERย
Series: Equity โB Groupโย
BSE Code: 544277ย
ISIN: INE377N01017ย
Face Value: Rs 10/-ย
Issued Price: Rs 1503/- per share
- October 28, 2024 07:13
Stock market live today: Listing of Deepak Builders Limited on 28th October, 2024ย
Symbol: DBEILย
Series: Equity โB Groupโย
BSE Code: 544276ย
ISIN: INE0OPA01019ย
Face Value: Rs 10/-ย
Issued Price: Rs 203/- per share
- October 28, 2024 07:13
Stock market live today: Fund Flow Activity: 25 October 2024 (Rs. In Crs.)
Turnover: (NSE + BSE)
Cash Volume: 114725.74 + 7512.62 Total: 122238.36
F&O Volume: 863716.72 + 38818766.5 Total: 39682483.22
Provisional Cash
FII/FPI: NET SELL: -3036.75ย
(14209.84 - 17246.59)ย
DII: NET BUY: 4159.29ย
(15203.44 - 11044.15)
- October 28, 2024 07:06
IPO Watch: Swiggy cuts IPO valuation again to $11.3 billion; BlackRock and CPPIB to invest
Indian food delivery giant Swiggy has slashed its IPO valuation again, to $11.3 billion, 25 per cent below the initial goal of $15 billion as market volatility and the lacklustre debut of Hyundai India weigh on sentiment, two sources said on Sunday.
BlackRock and Canada Pension Plan Investment Board (CPPIB) will invest in the $1.4 billion IPO, which will be the countryโs second-biggest stock offering this year, the sources told Reuters.
- October 28, 2024 07:03
Stock Ideas: Todayโs Stock Recommendation: October 28, 2024
Hereโs an interesting stock idea: The stock idea that we have for you today is Thermax. The stock has surged about 5 per cent on Friday breaking above key resistance on Friday. The price action indicates that a fresh leg of upmove has begun. The outlook is bullish and the share price can go up in the coming days. Check out the latest episode of bl.Todayโs Pick to learn more.
- October 28, 2024 07:01
WATCH: Nifty and Bank Nifty Prediction for the week 28 Octโ24 to 01 Novโ24 by BL GURU
Last week we said that #Nifty can bounce back from its support around 24,400. But that view has gone wrong. The fall last week confirms a head and shoulder pattern on the chart. That leaves the danger of seeing more fall in the short-term. A short-lived recovery is also possible before another leg of fall happens. However, from a big picture there are good chances that we could be in the last leg of this correction. So, we expect the broader uptrend to resume after one more leg of fall from here. #Nifty can fall to 23,500-23,000 on a break below 23,900. After this fall, the overall uptrend can resume. #NiftyBank index can fall to 49,700-49,400 and then rise back to 51,000-52,000 again.
- October 28, 2024 06:59
Stock market live today: Economic Calendar โ 28.10.2024ย
Daylight Saving Time Shift @ U.K. & Europe (13:30 IST)
No Major Macro Data
- October 28, 2024 06:58
Stock market live updates: Major U.S. listed stocks result calendar 28.10.2024ย
Fomento Economico Mexicano (Pre market) (Sector- Retailer)
ON Semiconductor Corporation (Pre market) (Sector- Technology)
Koninklijke Philips N.V. (Pre market) (Sector- Healthcare)
CenterPoint Energy, Inc. (Pre market) (Sector- Energy)
Waste Management, Inc. (Post market) (Sector- Miscellaneous)
Welltower Inc. (Post market) (Sector- Real Estate)
Cadence Design Systems, Inc. (Post market) (Sector- Technology)
Ford Motor Company (Post market) (Sector- Automobile)
Brown & Brown, Inc. (Post market) (Sector- Financial)
SBA Communications Corporation (Post market) (Sector- Real Estate)
Regency Centers Corporation (Post market) (Sector- Real Estate)
F5, Inc. (Post market) (Sector- Technology)
Encompass Health Corporation (Post market) (Sector- Healthcare)
- October 28, 2024 06:58
Mutual fund watch: One in three new equity offers see NAVs fall below โน10
Several equity new fund offerings (NFOs) launched this year have been on caught the wrong side of the recent market meltdown.
More than a third, or 50 out of 145 such funds, are trading below their net asset values (NAVs), according to data collated from Value Research. Investors purchase units of a new scheme at the face value of the units, which is typically โน10.
- October 28, 2024 06:56
Stock recommendations: Stock to buy today: Thermax (โน5,430.85): BUY
The short-term outlook for Thermax is bullish. The stock surged about 4.9 per cent on Friday and has closed on a strong note. This rise has taken the share price well above a key resistance level of โน5,300. It also indicates that a new leg of upmove has begun. The level of โน5,300 will now act as a good resistance-turned-support.
Comments
- Copy link
- Telegram
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.