Share Market Highlights: Markets bounce back: Sensex closes at 81,634, Nifty crosses 25,000

Top gainers on the NSE

Trent (7.95%), BEL (5.29%), Adani Enterprises (4.94%), Adani Ports (4.86%), M&M (3.56%) 

Top losers: 

SBI Life (-3.24%), Tata Steel (-2.72%), Titan (-2.35%), Bajaj Finserv (-2.30%), JSW Steel (-1.66%)

BSE Sensex climbed 584.81 pts or 0.72% to close at 81,634.81, and Nifty 50 gained 217.40 pts or 0.88% to 25,013.15.

Hyundai Motor India’s IPO will open next week for subscriptions and will likely be priced in the range of Rs 1,865 to Rs 1,960 ($22 to $23) per share, sources said on Tuesday, valuing the automaker at up to $19 billion in the country’s biggest stock offering this year. -- Reuters

Kolte - Patil Developers board has appointed Ravi Porwal as Chief Financial Officer of the company w.e.f. October 08, 2024.

Top gainers on the NSE as at 3 pm

Trent (7.65%), Adani Enterprises (4.5%), Adani Ports (4.48%), BEL (4.34%), M&M (3.11%) 

Top losers: 

SBI Life (-3.37%), Tata Steel (-3.04%), Titan (-2.64%), JSW Steel (-2.22%), Bajaj Finserv (-2.16%)

Stocks advanced on BSE at 3 pm on October 8, 2024, were 2,885 against 1,032 stocks that declined, and 111 remained unchanged. Total stocks traded were 4,028. The number of stocks that recorded a 52-week high was 133, and those that hit a 52-week low was 102. 

A total of 299 stocks traded in the upper circuit, and 252 in the lower circuit.

Olectra Greentech clarified that the company is yet to hear from Himachal Pradesh State Road Transport Corporation (HRTC) on the next course of action including the communication pertaining to declaration of L-1 bidder. “As such, unless the L-1 bidder is declared by HRTC, further discussion with regard to negotiations cannot commence,” it said.

Olectra Greentech shares gained 5.49% on the NSE to trade at ₹1,647.05

Tata Motors Group global wholesales in Q2 FY25, including Jaguar Land Rover were at 3,04,189 units, lower by 11%, as compared to Q2 FY24.

Tata Motors stock trades 1.62% lower on the NSE at 912.85

NTPC has received an order from the Additional Commissioner, Central Tax and Central Excise, Delhi East of Delhi state for the payment of Tax, Interest and penalty under Finance Act 1994, totalling ₹1,65,06,658. The corporation will file an appeal before the 1st appellate authority of the applicable jurisdiction against the said order.

Shares trade flat on the NSE at ₹418.95

Flair Writing Industries has received show cause notice from Office of the Assistant Commissioner of State Tax, Valsad. ₹1,84,13,322 being the amount of tax along with applicable interest and penalty for the FY 2020- 2021. 2. ₹1,51,946 being the amount of tax along with applicable interest and penalty for the FY 2020- 2021.

Shares rose 2.10% on the NSE to ₹288.95

Maruti Suzuki India Limited (MSIL) has introduced the Grand Vitara Dominion Limited Edition available in Alpha, Zeta and Delta variants across both petrol and CNG fuel type. 

Shares trade flat on the NSE at ₹12,587.50

Sheela Foam board has approved investment in House of Kieraya Ltd

The Company will subscribe upto 50,45,540 equity. share in the right issue offered by Target company and exercising partly paid up subscribed 56,00,995 warrant and purchase upto 3,50,000 shares from the existing shareholders aggregating consideration upto Rs. 107 Crores. 

SFL shares climbed 3.99% on the NSE to ₹907.35

Top gainers of Nifty Pharma stocks:

IPCA Labs (3.42%), JB Chemicals (2.91%), Glenmark (2.90%), Divi’s Lab (2.72%)

Whirlpool of India has received order under Section 125(1) & 112(a) of the Customs Act, 1962 wherein redemption fine of ₹3,20,000 and penalty of ₹30,000 has been imposed for delay in completion of formalities for obtaining SIMS Certificate.

Stock rose 1.99% on the NSE to ₹2,357.70

Updater Services has received an order from the office of Judicial Magistrate First Class (Trafic Court -III), Bengaluru for non-compliance of provisions of the Contract labour (Regulation and Abolition ) Act, 1970.

Shares climb 4.43% on the NSE to ₹374.85

LTIMindtree announced the launch of new comprehensive digital transformation and ESG platform- Smart Spaces 2.0. 

Shares up 1.75% to trade at ₹6,364.40 on the NSE

Pre-Sales of ₹7 billion in Q2 FY25 as compared to ₹3.06 billion in Q2FY24, showing a quarterly growth of 129% YoY basis. 

Collections are at ₹5.52 billion in Q2FY25 as compared to ₹5.85 billion in Q2FY24. 

Shares trade flat on the NSE at ₹699.95

Indian stock markets staged a recovery in mid-day trading on Tuesday, breaking a six-day losing streak amid ongoing geopolitical tensions and economic uncertainties. As of 12.30 pm, the Sensex stood at 81,363.31, up 313.31 points or 0.39 per cent from the previous close. The Nifty50 climbed 117.65 points or 0.47 per cent to reach 24,913.40. 

The market opened lower, with the Sensex starting at 80,826.56, down from Monday’s close. However, buying interest emerged as the day progressed, pushing both benchmarks into positive territory. 

Broader market indices showed stronger gains, with the Nifty Next 50 rising 1.20 per cent to 73,760.05 and the Nifty Midcap Select up 0.85 per cent to 12,762.90. The banking and financial services sectors also performed well, with Nifty Bank and Nifty Financial Services gaining 0.90 per cent and 0.97 per cent, respectively. 

The shares of Honasa Consumer Limited were trading at ₹430 down by ₹1.90 or 0.44 per cent on the NSE today at 11.30 am. Honasa Consumer Limited, the parent company of popular personal care brand Mamaearth, has been fined ₹50,000 by the Office of the Assistant Controller Legal Metrology in Kulgam, Jammu & Kashmir. The company disclosed this information in a regulatory filing to the National Stock Exchange of India and BSE Limited yesterday.

Nifty 50 has experienced a growth of 7.50% over the past 3 months, 15.60% over the past 6 months, and 31.43% over the past year. The Nifty Next 50 has shown a growth of 7.79% over the past 3 months, 27.17% over the past 6 months, and 71.18% over the past year. The Nifty Microcap 250 index has surged 11.63% over the last 3 months, 35.64% over the past 6 months, and 58.79% over the past year. The Nifty 500 has seen a growth of 7.47% over the past 3 months, 19.70% over the past 6months and 40.21% over the past year. The Nifty Midcap 150 has experienced a 7.10% surge over the past 3 months, 25.59% growth over the past 6 months, and a 47.36% increase over the past year. The Nifty Smallcap 250 have shown growth of 7.60% over the past 3 months, 28.47% over the past 6months and 50.53% over the past year.

All broad-based indices closed higher and have delivered positive returns for the month of September

The shares of Nupur Recycler Ltd (NRL) were trading at ₹103.57 up by ₹2.41 or 2.38 per cent on the NSE today at 11.11 am, a day after Nupur Recycler Ltd (NRL) has announced its investment of over ₹13 crore in its subsidiary, Frank Metals, marking its second major investment in the company. This follows an initial investment of ₹27.97 crore in March 2024, which secured NRL an 80 per cent stake in Frank Metals.

Allied Digital Services Ltd has been awarded Pune Safe City Project. The six-year contract, in collaboration with the Pune Police and the Maharashtra Home Department, will result in the deployment of more than 4,000 Artificial Intelligence (AI) enabled cameras across over 1,400 strategic locations throughout Pune city, elevating the city’s surveillance capabilities. 

Shares rally 9.49% on the NSE to ₹267.75

Blue Dart Express has announced ‘Diwali Express’, a limited-time offer valid until Nov 2, 2024, providing discounts on Diwali gift shipments across domestic and international routes.

Blue Dart Express stock trades flat on the NSE at ₹8,709.25

Mahanagar Gas shares trade flat on the NSE at ₹1,832.15. Company had signed an indicative and non-binding term sheet with International Battery Company Inc. for a proposed investment in International Battery Company Pvt. Ltd. for an amount not exceeding ₹385 crore in one or more tranches by subscribing to equity shares or other securities of the proposed JV company for a stake not less than 40% in that venture.

Persistent Systems achieves carbon neutrality for Scope 1 (direct emissions) and Scope 2 (indirect emissions) for its global operations in FY23-24, one year ahead of schedule. Shares trade flat on NSE at ₹5,262

Infosys and Handelsblatt Research Institute (HRI) launch research report titled “AI Trend Report: How AI is Transforming Industries,” leveraging Infosys Topaz, an AI-first offering using generative AI technologies. 

Infosys shares trade flat on the NSE at ₹1,928.45

Top gainers: Trent (6.17%), BEL (3.05%), Adani Ports (3%), Adani Enterprises (2.43%), M&M (2.15%) 

Top losers: Tata Steel (-3.01%), JSW Steel (-2.68%), SBI Life (-2.03%), Tata Motors (-1.81%), Titan (-1.68%)

Of 3,902 stocks traded on the BSE at 12 noon on October 8, 2024, 2,670 advanced against 1,105 stocks that declined, and 127 remained unchanged. While 117 stocks recorded a 52-week high, 98 hit a 52-week low. A total of 196 stocks traded in the upper circuit, and 263 in the lower circuit.

In a significant milestone for India’s financial services sector, Appreciate carried out the first low ticket (Rs. 100) mutual fund transaction on the Open Network for Digital Commerce (ONDC) Network. Appreciate is one of the first buyer apps to go live on ONDC Network offering mutual fund (MF) investments via Appreciate integrated investment platform.

Appreciate, acting as a buyer app, facilitates seamless interaction between AMCs and customers, with Nippon India AMC being the first AMC to accept investments through the ONDC protocol.

Bank Nifty opened today’s session with a gap-up at 50,736 versus yesterday’s close of 50,479. The index moved up further after opening and is now at 50,850, up 0.8 per cent. Read more

Nifty 50 is witnessing some recovery after having beaten down badly over the last few days. The index is currently trading at 24,852, up 0.2 per cent. It is important to see if this bounce is sustaining all through the day or not. The advances/declines ratio is at 29:21. This trend has to sustain for the Nifty to stay afloat. Read more

Crude oil futures traded lower on Tuesday morning due to profit booking after witnessing more than 3 per cent jump on Monday. At 9.55 am on Tuesday, December Brent oil futures were at $79.65, down by 1.58 per cent, and November crude oil futures on WTI (West Texas Intermediate) were at $75.96, down by 1.53 per cent. 

October crude oil futures were trading at ₹6385 on Multi Commodity Exchange (MCX) during the initial hour of trading on Tuesday against the previous close of ₹6475, down by 1.39 per cent, and November futures were trading at ₹6345 against the previous close of ₹6430, down by 1.32 per cent.

RITES shares trade flat on the NSE at ₹298. Company has received the LOA for supply and commissioning of overhauled in-service Cape Gauge ALCO Diesel Electric Locomotives fitted with new Cape Gauge Bogies, Traction Motors, Control System Air braked, etc. overhauled at nominated facility and on-site warranty support for one year. 

Consideration: $5.40 million (CIF)

Saregama India clarified regarding news report that it eyes majority stake in Dharma Productions. It evaluates various strategic opportunities in the ordinary course, for growth and expansion of its business. At this stage, there is no material event/information that requires disclosure. 

Shares jumped 8.30% on the NSE to ₹632.25

Track the Ola share price movements live here

Baazar Style Retail has executed a term sheet intending to acquire a commercial space admeasuring 44,250 sq. ft. more or less located at PS Srijan Tech Park, DN-52, Sector V, Saltlake, North 24 Parganas, West Bengal, for a total consideration of ₹32.5 Crore. The Company has made a payment of Rs. 1 Crore as an advance against total proposed consideration

Shares trade flat on the NSE at ₹363.05

The Indian stock markets opened lower on Tuesday, extending losses for the seventh consecutive session as geopolitical tensions in West Asia and concerns over potential delays in interest rate cuts by the US Federal Reserve dampened investor sentiment. 

The benchmark Sensex opened at 80,826.56, down from its previous close of 81,050.00, while the broader Nifty50 index started the day at 24,832.20, slightly up from Monday’s close of 24,795.75. 

“The trend of the Nifty remains weak and sell-on-rise behaviour may be witnessed for some more time, although as the short-term trend has become oversold, a bounce can be expected any time,” said Deepak Jasani, Head of Retail Research at HDFC Securities. 

Brokerages count on the dynamics of the cement industry as thedemand improved in September 2024, although below market expectations, following a lacklustre performance in July-August this year.

CLSA on M&M: Upgrade to Outperform on Company, raise target price at Rs 3400/Sh (Positive) 

MS on Nykaa: Maintain Overweight on Company, target price at Rs 216/Sh (Positive) 

MS on TRENT: Maintain Overweight on Company, target price at Rs 8032/Sh (Positive) 

Nuvama on Skipper: Initiate Buy on Company, target price at Rs 650/Sh (Positive) 

Nomura on Tata Power: Initiate Buy on Company, target price at Rs 560/Sh (Positive) 

Nomura on JSW Energy: Initiate Buy on Company, target price at Rs 885/Sh (Positive) 

HSBC on Zomato: Maintain Buy on Company, target price at Rs 330/Sh (Positive) 

HSBC on Polycab: Maintain Buy on Company, raise target price at Rs 7800/Sh (Positive) 

HSBC on KEI Ind: Maintain Hold on Company, raise target price at Rs 4350/Sh (Positive) 

JPMorgan on Paints: Positive on the long-term growth potential of the paints industry (Positive) 

Jefferies on Pharma: Cipla, Zydus and Sun Pharma continues to gain market share in Albuterol and Lanreotide (Positive) 

Nomura India Strategy: With renewed interest in HK/China stocks, see risk of some near-term underperformance for India (Neutral) 

BofA on Godrej prop: Maintain Neutral on Company, target price at Rs 3500/Sh (Neutral) 

HSBC on KEI Ind: Maintain Hold on Company, target price at Rs 1900/Sh (Neutral) 

Emkay on Tata Motors: Maintain Buy on Company, target price at Rs 1175/Sh (Neutral) 

MOSL on Tata Motors: Maintain Neutral on Company, target price at Rs 990/Sh (Neutral) 

Citi on Nykaa: Maintain Sell on Company, target price at Rs 165/Sh (Neutral) 

UBS on Auro Pharma: Maintain Sell on Company, target price at Rs 1333/Sh (Negative) 

UBS on Tata Motors: Maintain Sell on Company, target price at Rs 825/Sh (Negative) 

Jefferies on Pharma: Lupin market share loss accelerates (Negative)

PARAMOUNT

IPO PRICE: 117

LOT SIZE: 1200

LISTING PRICE: 109.90(-6.07%)

LISTING LOSS: (-8520/-)

NSE SETTLEMENT DONE 09:39:40 AM

---

SUBAM

IPO PRICE: 152

LOT SIZE: 800

LISTING PRICE: 142(-6.58%)

LISTING LOSS: (-8000/-)

BSE SETTLEMENT DONE 09:39:09 AM

Honasa Consumer received an order dated October 7, 2024 from the Office of the Assistant Controller Legal Metrology Kulgam, Jammu & Kashmir, regarding a compounding fee of Rs. 50,000 which has been imposed on the Company and its nominated Director / Executive. Stock trades 2.64% lower on the NSE at ₹420.50

RateGain Travel Technologies Ltd (RateGain) said FlyArystan, Kazakhstan’s premier low-cost airline and a subsidiary of the Air Astana group, has extended its partnership with AirGain.

Rategain Travel Technologies stock trades at ₹724.05 on the NSE, down by 0.52%.

Vodafone Idea has clarified regarding a DoT notice for non-submission of Bank Guarantees.

Vi has made detailed representations to the DoT and continues to be engaged with DOT for removal of the bank guarantee requirements for spectrum acquired before 2022. This is also an industry ask. As and when a final decision is taken by the DoT, the Company will make the necessary disclosures as required by law.

Shares up 2.84% on the NSE to ₹9.42

Top gainers: Ultratech Cement (1.62%), Hindustan Unilever (1.33%), M&M (1.31%), Axis Bank (1.26%), Trent (1.24%)

Top losers: Tata Steel (-3.63%), Tata Motors (-3.12%), JSW Steel (-2.34%), Wipro (-1.70%), Hindalco (-1.66%)

The U.S. 10-year Treasury Yields settled above 4% for the first time since 31 July 2024 as investors readjusted their views for the path of interest rates from the Federal Reserve.

Last week’s stronger-than-expected U.S. payrolls report drove expectations the Fed will dial back its aggressiveness in cutting interest rates.

Expectations for a Fed rate cut of 25-bps at the central bank’s November meeting stand at 87.3%, with the market pricing in a 12.7% chance it will hold rates steady, according to CME’s FedWatch Tool.

Downside in gold and silver were capped due to safe haven demand from geopolitical tensions and political uncertainty as we get closer to the U.S. election.

Additionally, the Dollar Index was off session highs and settled marginally in the red and capped downside in bullion.

Looking ahead from an intraday perspective, international gold and silver prices have started flat to marginally in the red this early Tuesday morning in Asian trading.

This week, the focus will be on inflation data, with some expecting inflation to start picking up again, particularly due to the Fed’s dovish policy actions. 

Downside could be capped amid safe haven buying due to escalating Middle East geopolitical tensions. 

The Dollar and benchmark bond yields have started marginally in the red and could cap downside.

Internationally, the range for COMEX December gold is $2,645 to $2,675 while that for COMEX December silver is $31.125 to $32.450.

Domestic gold and silver could track overseas prices and start marginally in the red this Tuesday.

Thursday, 10 October, 2024

Derivative Segment

• TCS Limited

Cash Segment

• Anand Rathi Wealth Ltd.

• IREDA

• Tata Elxsi Ltd.

Friday, 11 October, 2024

Derivative Segment

Nil

Cash Segment

• Just Dial Ltd.

Saturday, 12 October, 2024

Derivative Segment

Nil

Cash Segment

• Avenue Supermarts Ltd.

• Network 18 Media Ltd.

Monday, 14 October, 2024

Derivative Segment

Nil

Cash Segment

• Angel One Ltd.

Tuesday, 15 October, 2024

Derivative Segment

• HDFC AMC Limited

• HDFC Life Limited

Cash Segment

Nil

Wednesday, 16 October, 2024

Derivative Segment

• Bajaj Auto Limited

• LTTS Limited

• MphasiS Limited

Cash Segment

• CRISIL Ltd.

Thursday, 17 October, 2024

Derivative Segment

• Havells India Limited

• Infosys Limited

• Nestle India Limited

• Polycab India Limited

• Wipro Limited

Cash Segment

• Ceat Ltd.

Friday, 18 October, 2024

Derivative Segment

• ICICI Lombard Limited

• L&T Finance Limited

Cash Segment

• Aether Industries Ltd.

Saturday, 19 October, 2024

Derivative Segment

• HDFC Bank Limited

• Tech Mahindra Limited

Cash Segment

Nil

Monday, 21 October, 2024

Derivative Segment

• UltraTech Cement Limited

Cash Segment

• Jana Small Finance Bank Ltd.

• Maharashtra Scooters Ltd.

Tuesday, 22 October, 2024

Derivative Segment

• Bajaj Finance Limited

• Coforge Limited

• M&M Financial Services Limited

• Max Financial Services Limited

• Persistent Systems Limited

Cash Segment

• Zensar Technologies Ltd.

Wednesday, 23 October, 2024

Derivative Segment

• Asian Paints Limited

• Bajaj Finserv Limited

• Navin Fluorine Limited

• Pidilite Industries Limited

• Syngene International Limited

Cash Segment

• Bajaj Holdings & Investment Ltd.

• KPIT Technologies Ltd.

• Nuvoco Vistas Corporation Ltd.

Thursday, 24 October, 2024

Derivative Segment

• United Breweries Limited

Cash Segment

• Bikaji Foods International Ltd.

• Castrol India Ltd.

• CIE Automotive India Ltd.

• CSB Bank Ltd.

• Cyient Ltd.

• Nippon Life India Ltd.

Friday, 25 October, 2024

Derivative Segment

• Atul Limited

• Chola Inv & Fin Limited

• JSW Steel Limited

Cash Segment

• JM Financial Ltd.

• Mahindra Holidays Ltd.

• Mahindra Lifespace Ltd.

• Poonawalla Fincorp Ltd.

• UTI AMC Ltd.

Saturday, 26 October, 2024

Derivative Segment

• ICICI Bank Limited

• IDFC First Bank Limited

• JK Cement Limited

Cash Segment

• Yes Bank Ltd.

Monday, 28 October, 2024

Derivative Segment

Nil

Cash Segment

• CAMS Ltd.

• Gillette India Ltd.

• Lakshmi Machine Works Ltd.

Tuesday, 29 October, 2024

Derivative Segment

• Cipla Limited

• Marico Limited

Cash Segment

• Honeywell Automation Ltd.

Wednesday, 30 October, 2024

Derivative Segment

• Biocon Limited

• Dabur India Limited

Cash Segment

• Procter & Gamble Ltd.

• TTK Prestige Ltd.

Monday, 4 November, 2024

Derivative Segment

• ABB India Limited

• Exide Industries Limited

Cash Segment

• Amara Raja E&M Ltd.

• Procter & Gamble Ltd.

Tuesday, 5 November, 2024

Derivative Segment

• Berger Paints (I) Limited

• Dr. Reddy’s Lab Limited

Wednesday, 6 November, 2024

Cash Segment

• Blue Star Ltd.

• Endurance Technologies Ltd.

• Kansai Nerolac Paints Ltd.

Thursday, 7 November, 2024

Derivative Segment

• Cummins India Limited

Cash Segment

• Indigo Paints Ltd.

Friday, 8 November, 2024

Derivative Segment

Nil

Cash Segment

• Esab India Ltd.

• Latent View Analytics Ltd.

Monday, 11 November, 2024

Derivative Segment

• Hindalco Industries Limited

• SHREE CEMENT LIMITED

Cash Segment

Nil

Tuesday, 12 November, 2024

Derivative Segment

• Bosch Limited

Cash Segment

• BASF India Ltd.

• Suven Pharmaceuticals Ltd.

Company Name: PNB Housing Finance Ltd

Sector: Housing Finance Company 

Ratings: BUY 

Current Price: Rs. 934 

Target: Rs.1,333

Potential upside: 43% 

Holding: 12 months

PNB Housing Finance, promoted by Punjab National Bank, offers a variety of housing and non-housing loans, including home loans and loans against property. As of FY24, it is the third-largest housing finance company in India, with an AUM of Rs. 71,243 Cr (up from Rs. 65,977 Cr in FY22) and a loan book of Rs. 65,358 Cr (up from Rs. 56,889 Cr in FY22). The company also leads in deposits, totaling Rs. 17,783 Cr in FY24.

The key strengths of the Company are

•\u0009Aims to grow its retail loan book to over Rs. 1 lakh Cr by FY27, targeting a CAGR of 16% from FY24 to FY27. Affordable housing is expected to contribute 14-16%, while the emerging markets segment is projected to account for 22-25%. 

•\Plans to open 50 new branches annually, targeting a total of 400 branches by FY26. Focusing on South, North, and West regions.

•\Company’s PPoP is projected to grow at an 18% CAGR from FY24 to FY26E with operational expenses expected to stay at or below 1% of AUM.

•\Targeting a 2.4%-2.6% ROA over the next three years.

•\u0009Growth strategy includes leveraging the Pradhan Mantri Awas Yojana (PMAY) scheme and margin-accretive expansion.

•\To improve efficiency, the company is implementing advanced technologies such as, Cloud-based CRM and Chatbots.

As the third-largest HFC by AUM, we value the stock at a P/B multiple of 2.0x, a 37% discount to the industry average. Based on the FY26E book value of Rs. 666, this results in a target upside of 43% of Rs. 1,333.

Jindal Saw Ltd

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

Previous day Closing Price – Rs. 705

Ex-Split 09 Oct 2024 (Tomorrow)

Last date for Cum-Split Today

Jupiter Wagons Ltd

Dividend Per Share Rs.0.2

Previous day Closing Price – Rs. 469

Ex-Dividend 09 Oct 2024 (Tomorrow)

Last date for Cum-Dividend Today

Crude oil futures traded lower on Tuesday morning due to profit booking after witnessing more than 3 per cent jump on Monday. At 9.24 am on Tuesday, December Brent oil futures were at $79.64, down by 1.59 per cent, and November crude oil futures on WTI (West Texas Intermediate) were at $75.86, down by 1.66 per cent. October crude oil futures were trading at ₹6378 on Multi Commodity Exchange (MCX) during the initial hour of trading on Tuesday against the previous close of ₹6475, down by 1.50 per cent, and November futures were trading at ₹6345 against the previous close of ₹6430, down by 1.32 per cent.

The initial public offering of Garuda Construction and Engineering opens today at a price band of ₹92-95 a share. The ₹264-crore IPO consist of a fresh issue of 1.83 crore equity shares worth ₹173.85 crore and an offer of sale (OFS) of 95 lakh equity shares by promoter PKH Ventures. The IPO closes on October 10.

GIFT Nifty -141 pts (24865) from last trade 25006 , 

Nikkei -390 pts , 

Hangseng -251 pts , 

Now @6.52am . 

Dow -398.51 pts ,Nsdq -213.94 pts, S&P 

-55.13 pts , Bovespa +226 pts , Ftse +22 pts , Dax -16 pts , Cac +34 pts , Crude @ $77.13 brl (-0.01), Brent @ $80.90 brl (-0.03) , Gold @ 2662.90 (-3.10), Silver $31.93 (-0.07), Euro @ $1.0978, JPY @ $147.97, INR @ 83.935

🔹US GOVT. 10-YR YIELD : 4.01%

Today’s Corporate Action, 08 Oct Ex Date :

Power Mech Projects Ltd

Bonus issue 1:10

Today’s Key Results/Board Meetings, 08-Oct-24 :

ABMKNO\ 

General\ 

ARIHANT\ 

Preferential Issue of shares\ 

BIJHANS\ 

General\ 

DARSHANORNA\ 

Quarterly Results\ 

EMERALD\ 

Quarterly Results\ 

FORINTL\ 

General\ 

GGL\ 

Quarterly Results\ 

HAWAENG\ 

Quarterly Results\ 

INDSOYA\ 

Right Issue of Equity Shares\ 

INTEGSW\ 

Quarterly Results\ 

JULIEN\ 

Stock Split\ 

NAVKARCORP\ 

Quarterly Results\ 

SUMEETINDS\ 

Reduction of Capital;General\ 

TARIL\ 

Quarterly Results;General\ 

TIMEX

General\ 

VEDL\ 

Interim Dividend\ 

VLEGOV\ 

Quarterly Results\ 

SEC. IN F&O BAN FOR, 08-10-2024 :

1. \BANDHANBNK 2. \ BSOFT 3. \ GNFC 4. \ GRANULES 5.\ HINDCOPPER 6. \ IDFCFIRSTB 7.\ MANAPPURAM 8. \PNB 9. RBLBANK

ADDITION : IDFCFIRSTB, PNB

DELETION : NIL

Today’s Alert :

RBI to Conduct Auction of SDLS BONDS for INR 187 BILLION

Domestic markets are expected to open on a negative note with all eyes on the assembly election outcome and RBI meet. Gift Nifty at 24,860 signals a gap-down opening of 100 points. Analysts expect foreign portfolio investors will continue to exert selling pressure. The ongoing geopolitical tension is likely to keep the market under pressure it said. The Jammu & Kashmir and Haryana assembly results will come in today, while the RBI will declare its monetary policy outcome tomorrow.

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

Recent Interview...

As of 18:32 PM Monday 07 October 2024

Blue Star: B Thiagarajan, MD

Online Vs Offline Sales: What Will Reign? What Blue Star & Vijay Sales Expecting? Festive Fever

https://www.youtube.com/watch?v=QsjM4TJXyyI

Bikaji Foods: Manoj Verma, COO

Will See Category Growth Due To Quick Commerce: Bikaji Foods

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

Jupiter Life: Ankit Thakker, CEO

Currently Focussed On The Western Part Of The Country: Jupiter Life Line

https://www.youtube.com/watch?v=dMrrQ2f-9uU

Kotak Mahindra: Ashok Vaswani, MD & CEO

Kotak Mahindra Bank’s New MD & CEO Ashok Vaswani’s Growth Blueprint

https://www.youtube.com/watch?v=cL-x25GHZ3E

Senco Gold Limited: Suvankar Sen, CEO

Fund Raise Is Primarily For Working Capital & To Add 18-20 Stores Annually: Senco Gold & Diamonds

https://www.youtube.com/watch?v=qmOC8T6Mr9g

Titagarh Rail: Umesh Chowdhary, Vice Chairman & Managing Director

Titagarh Rail: Co Adjusts Wagon Contract, What’s Going To Steer Growth For Biz?

https://www.youtube.com/watch?v=yB05lc5q2sk

Uflex: Rajesh Bhatia, CFO

Looking At Margin Expansion Of 1.5-2% With The PET Chip Plant Coming On Stream: UFlex

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

Welspun India : BK Goenka, Chairman

Welspun B2C India Revenue Will Grow 6x & Clock ?3,000 Cr In Next 5 YearS

https://www.youtube.com/watch?v=1AxZF1kxLdw

Baazar Style Re: Pradeep Kumar Agarwal, Chairman

Expect FY25 Gross Margin To Be In The Range Of 33-34%: Bazaar Style Retail

https://www.youtube.com/watch?v=yV5EU2BOmQQ

Lupin: Ramesh Swaminathan, CFO & ED

Confident Of Opportunities From Bladder Drug Mybetriq Generic & Kidney Drug Jynarque Generic: Lupin

https://www.youtube.com/watch?v=XCQlp0_flzM

Events today…

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

Results today…

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

Replays available at www.researchbytes.com

Q2FY25 EARNING CALENDAR 08.10.2024

NAVKARCORP, VLEGOV

Q2FY25 EARNING CALENDAR 09.10.2024

GTPL, WCIL

India Power & Utilities | Initiate coverage of Tata Power (TPWR IN, Buy, TP INR560) and JSW Energy (JSW IN, Buy, TP INR885).

Tata Power (TPWR IN, Buy): We expect TPWR to deliver a robust 16% EBITDA CAGR over FY24-27F driven by a 2x increase in RE capacity, robust delivery on INR157bn solar EPC orderbook and a jump in Odisha profitability.

JSW Energy (JSW IN, Buy): We expect JSW to deliver a solid 38% EBITDA CAGR over FY24-27F, underpinned by an over 2x increase in operational capacity and healthy margins on RE generation projects.

* BIRLASOFT

* BANDHANBANK

* GNFC

* GRANULES

* HINDCOPPER

* IDFCFIRST

* MANAPPURAM

* PNB

* RBLBANK

Ashok Leyland: Company wins India’s largest order for electric trucks at Rs 150 crore. (Positive) 

Nuvoco Vistas: Company secured 3 limestone blocks in Rajasthan, estimated at 28.43 million tons (Positive) 

Swelect Energy: Company unit has successfully commissioned an additional solar power plant having the capacity of 7 mw at Pisanathur village and Pudunagar village at Pudukottai district, Tamil Nadu. (Positive) 

Nimbus Projects: Company developing housing project with nimbus Propmart, Estimated cost of project Rs 6.6 billion, sales revenue Rs 8.5 billion (Positive) 

Piccadily Agro: Indri single malt launches ‘the city series’ with first travel retail exclusive for Bengaluru duty-free (Positive) 

Juniper Hotels: Company entered into secured term loan agreement for Rs 2.8 billion with ICICI Bank (Positive) 

Puravankara: Company has acquired 3 acres 4 guntas of land in North Bangalore to develop a residential project. (Positive) 

BEL: Company gets orders worth more than Ra 5 billion (Positive) 

Cyient DLM: Company has more inorganic growth plans on the cards after acquisition of Altek Electronics (Positive) 

ENIL: MGID and company partner to accelerate Native Advertising adoption across India (Positive) 

Ani Integrated Services: Company gets order worth upto Rs 1.73 billion for 3 Years (Positive) 

Sarvotech: Receives an additional order to Build EV Charging Stations for Nashik Municipal Corporation (Positive) 

Chalet Hotels: Company has announced a scheme of arrangement and amalgamation with its subsidiaries, Sonmil Industries Private Limited and the Dukes Retreat Private Limited. (Positive) 

Modern Engineering: Company has entered into a MOU with Karmvir intelligent Infra Private Limited for Acquiring of office premises on Long Lease Basis in Commercial (Positive) 

PN Gadgil: MD Saurabh Gadgil bets on strong gold demand during Dussehra, Diwali and the upcoming wedding season. (Positive) 

Lemon Tree: Company signs license agreement for 54 room hotel in Udaipur, Rajasthan (Positive) 

BCPL Railway Infra: BCPL Railway Infra’s subsidiary company “BCL Bio Energy” start crude edible oil production at its 300 Ton per Day Edible Oil Extraction Plant in Burdwan (Positive) 

Zodiac Energy: Company bags order ₹154.27 Cr from Ahmedabad Municipal Corporation (Positive) 

Oil upstream stocks: Brent crude rises to 80/bbl for the first time since August (Positive) 

HEG: Company said they have bought 8.23% shares of their competitor Graftech international for ₹248 cr (Positive) 

Mindtek: Company will reward its shareholders one extra share for every four shares they already own (Positive) 

Tata Power: Company will announce its Q2 FY25 financial results on October 30, 2024. (Neutral) 

Craftsman Automation: Acquisition of securities of sunbeam Light weighting solutions; Company subscribed to OCDS of sunbeam for a consideration Rs 1.36 billion, as per terms of OCDS, Company has option to convert OCDS into shares (Neutral) 

Hi-Tech Pipes: Company approves floor price for issue at Rs 194.98 per share via QIP (Neutral) 

HDFC Bank: Company board approved sale of 100% stake in HDFC EDU to Vama Sundari investments; sale worth Rs 1.92 billion, entity being sold belongs to education services sector. (Neutral) 

Star Cement: Company has appointed Mr. Dilip Kumar Agarwal as Chief Commercial & Corporate Affairs Officer, effective October 7, 2024. (Neutral) 

Electro Steel Castings: Company remitted Rs 415 million for acquisition of shares of Singardo international, Singardo will become a wholly owned subsidiary of Company. (Neutral) 

Tata Motors: JLR Retail sales in Q2 FY25 were 103,108 units, down 3% vs Q2 FY24, JLR wholesales in Q2 FY25 were 87,303 units, down 10% vs Q2 FY24. (Neutral) 

Sumitomo Chemical: Board Meeting on Oct 28 to consider Q2 Results (Neutral) 

Stylam Industries: Board Meeting on Oct 15 to consider Q2 Results (Neutral) 

Bajaj Hind: Company terminates its jagreement with EverEnviro Resource Management. (Neutral) 

Shakti Pumps: Board of directors approves increase in authorised share capital of the firm by Rs 150 crore. (Neutral) 

Nykaa: Sees ‘gradual’ revival in H2 on festive & wedding season. (Neutral) 

Cholamandalam Investment: Company appoints Ravindra Kumar Kunduh as Managing Director of the company w.e.f October 7. (Neutral) 

Paras Defence: Company closes QIP, sets issue price at Rs 1,045/share. (Neutral) 

Hero Motocorp: Hero Motors withdraws its draft papers for its 900 crore IPO. (Negative) 

Ircon: Apex Buildsys files a claim worth Rs 38.71 crore against company over disputes related to their Raebareli project. (Negative) 

OLA Elec: Company received show cause notice from the Central Consumer Protection Authority for alleged violation of consumer rights, misleading advertisement and unfair trade practices (Negative)oint venture

11.30 EURO German Industrial Production m/m (Expected: 0.8% versus Previous: -2.4%)

18.00 U.S. Trade Balance (Expected: -70.6B versus Previous: -78.8B)

22.15 U.S. FOMC Member Bostic Speaks

Pepsico, Inc. (Pre market) (Sector- FMCG)

IDT Corporation (Post market) (Sector- Technology

The board of HDFC Bank has approved the sale of HDFC Education to Vama Sundari for ₹192 crore.

Sobha has reported a sales value of ₹1,179 crore for Q2-FY25. The Bengaluru-based realty major said its average price realisation during the quarter stood at ₹12,674 per square foot (SFT). Read more

7 October 2024 (Rs. In Crs.)

Turnover: (NSE + BSE)

Cash Volume: 127522.35 + 9511.35 Total: 137033.7

F&O Volume: 478388.93 + 20105079.99 Total: 20583468.92

Provisional Cash

FII/FPI: NET SELL: -8293.41 

(14057.25 - 22350.66) 

DII: NET BUY: +13245.12 

(23924.07 - 10678.95)

HDFC Bank has surpassed its gender diversity target of having 25 per cent women in its total workforce a year ahead of the schedule. The Bank had a stated objective of reaching 25 per cent gender diversity by FY25. Women employees account for 26 per cent of its 2 lakh workforce, and a good number of them are below 30. It now aims to have 27 per cent of women in the total workforce by FY 27.

India was a net importer of steel for the first half of FY25, with import of the metal standing at 4.7 million tonnes (mt) – up 41 per cent y-o-y – while exports dipped to 2.3 mt, down 36 per cent. Import was more than double that of exports at 2.4 mt, per an internal report of the Union Steel Ministry, accessed by businessline. 

Despite the advent of the festive season, the passenger vehicle inventory in India has reached an all-time high now standing at 80 to 85 days. Dealers across the nation currently have 7.9 lakh vehicles, valued at ₹79,000 crore, in stock. This comes even as overall auto sales saw a 9.26 per cent decline in September with passenger vehicles declining by 18.81 per cent and two-wheelers declining by 8.51 per cent. Commercial vehicle sales also fell by 10.45 per cent, according to the Federation of Automobile Dealers Associations (FADA) statistics.

The outlook is bearish for Union Bank of India. The 4 per cent fall on Monday has dragged the share price well below the key support level of ₹119. This marks the end of the consolidation phase that was in place since August this year. It also indicates that the broader downtrend has resumed.

Bank of Baroda (BoB) on Monday launched ‘bob Masterstroke Savings Account’ for high-end customers even as it announced cricket legend Sachin Tendulkar as its global brand ambassador.