Share Market Highlights: Sensex, Nifty dip; RBI’s CRR cut eases liquidity worries

• 16:08 | December 6, 2024

  Stock market updates: Colin Shah, MD, Kama Jewelry on ‘RBI MPC Announcement’

  “RBI’s move to keep the repo rate unchanged at 6.5% for the 11th straight time is a step in the right direction. The central bank may want to monitor more economic indicators before deciding. The FY25 inflation is projected is hiked to 4.8%, which is a bit higher compared to the one projected in the last meeting. Nevertheless, it is still within the RBI tolerance band and is expected to start easing from Q4 of current FY25. 

  The GDP growth projection for FY25 has been slashed to 6.6% from the earlier 7.2% indicating the effects of high food inflation. Going ahead, high food inflation in the domestic market and geopolitical tensions in the Middle East and between Russia-Ukraine will continue to remain a huge concern which could further lead to a slowdown in trade activities of gems and jewelry. However, continuation of neutral stance by RBI to support growth is a much-needed step which indicates a low-rate regime in sight.”

• 16:01 | December 6, 2024

  Share market updates: Healthcare index falls 0.14%; Poly Medicare leads the losers dipping 3.53%

  Several prominent pharmaceutical companies like Poly Medicure Ltd, Unichem Laboratories Ltd, and Wockhardt Ltd were among the top losers, shedding 3.53 per cent, 2.86 per cent, and 2.79 per cent of their value, respectively. Other notable decliners included Supriya Life Science Ltd, Innova Captab Ltd, Piramal Pharma Ltd, and Marksans Pharma Ltd. 

  Read full story here

• 16:00 | December 6, 2024

  Stock market live updates: Synergy Green secures major wind turbine casting contract with Envision Energy

  Synergy Green Industries Limited announced today a significant supply agreement with Envision Energy India Pvt Ltd for manufacturing wind turbine castings, marking a strategic expansion in the renewable energy manufacturing sector.

  Read more

• 15:59 | December 6, 2024

  Share market live today: Samvardhana Motherson expands global reach with 95% acquisition of Atsumitec

  Samvardhana Motherson International Limited (SAMIL) announced on December 6, 2024, its plan to acquire a 95 per cent stake in Atsumitec Co., Ltd., a Japanese manufacturer of high-precision automotive components. The acquisition, valued at approximately JPY 8.5 billion (USD 57 million), will be executed through SAMIL’s 100 per cent subsidiary, Samvardhana Motherson Automotive Systems Group B.V. (SMRP B.V.). Honda Motor will retain the remaining 5 per cent stake.

• 15:31 | December 6, 2024

  Stock Market News Live Updates: Top Gainers and Top Losers

  Top gainers on the NSE as at 3.05 pm:

  Tata Motors (2.89%), Bajaj Auto (2.31%), Axis Bank (1.72%), Maruti (1.14%), Dr Reddy’s Lab (1.12%)

  Top losers:

  Cipla (-1.40%), Adani Ports (-1.31%), Bharti Airtel (-1.11%), HDFC Life (-1.04%), Asian Paints (-0.89%)

• 15:30 | December 6, 2024

  Stock Market News Live Updates: Stocks - advances and declines

  Stocks advanced on BSE at 3 pm on December 6, 2024, were 2,384 against 1,577 stocks that declined, and 107 remained unchanged. Total stocks traded were 4,068. The number of stocks that recorded a 52-week high was 227, and those that hit a 52-week low was 12. A total of 382 stocks traded in the upper circuit, and 196 in the lower circuit.

• 14:40 | December 6, 2024

  Stock Market Live News Updates: BSE shares gain 4.10%

  BSE shares gained 4.10% to trade at ₹5,408

• 14:31 | December 6, 2024

  Stock Market Live News Updates: Afcons Infra up 3.42% on the NSE

  Afcons Infra stock surged 3.42% on the NSE to ₹544.15 on completing longest tunnelling drive for DMRC in Delhi Metro Phase-4

• 14:23 | December 6, 2024

  Stock Market Live News Updates: UltraTech Cement receives query on acquisition plan

  UltraTech Cement has informed the exchanges that it has received a communication from the Competition Commission of India under Section 29 (1) of the Competition Act, 2002 regarding the proposed acquisition of The India Cements Limited. 

  “The Company will be responding to the same. The Southern Market for grey cement, where ICEM primarily operates, is highly competitive and fragmented with the presence of over 35 grey cement manufacturers. We are confident of the merits of our case,” it added.

  Shares of UltraTech Cement slipped 0.73% on the NSE to trade at ₹11,845.95

• 14:04 | December 6, 2024

  Stock Market News Live Updates: Piramal Pharma Solutions, VetDC enter into settlement agreement

  Piramal Pharma Solutions Inc. (Piramal Pharma’s wholly-owned subsidiary) and VetDC, Inc. have entered into a settlement agreement for an amount of $407,400. The civil suit pertains to damages claimed by VetDC on account VetDC’s rejection of certain batches of product manufactured and supplied by Piramal Pharma Solutions Inc.

  Piramal Pharma’s stock trades lower by 2.55% on the NSE at ₹267.15

• 13:59 | December 6, 2024

  Stock market news updates Live: Angel One sees strong client growth

  The financial services firm experienced a moderate decline in trading metrics month-on-month, with the number of trading days dropping 18.2 per cent to 18 days and total orders decreasing 23.5 per cent to 130.96 million

  CLICK HERE to read more
• 13:54 | December 6, 2024

  Stock market live: Suraksha Diagnostic shares in focus

  Shares of Suraksha Diagnostic traded at ₹421.10 on the NSE, down by 3.86%. 

  Track live updates here

• 13:50 | December 6, 2024

  Stock market live: Top 5 gainers of Nifty Metal stocks

  Vedanta (6.25%)

  Hindustan Zinc (2.36%)

  Jindal Stainless (1.78%)

  SAIL (1.53%)

  NMDC (1.50%)

• 13:37 | December 6, 2024

  Stock market live: Knowledge Marine secures ₹96.24 crore contract

  Knowledge Marine & Engineering Works Limited has received a work order from V.O. Chidambaranar Port for Supply, Manning, Operation, and Maintenance of One (1) No. 60T Bollard Pull and above highly maneuverable Azimuth Stern Drive (ASD) Tug. Contract valued at ₹96.24 crore.

  Knowledge Marine shares trade lower by 1.06% on the BSE at ₹2,345.

• 13:30 | December 6, 2024

  Stock market today: Venus Remedies receive market authorisation for Pemetrexed 500 mg

  Venus Remedies Limited announced the grant of marketing authorisation for Pemetrexed 500mg, a chemotherapeutic agent widely used in the treatment of lung cancer and mesothelioma, in the Philippines. 

  Venus Remedies stock zoomed 6.78% on the BSE, trading at ₹345.05.

• 13:25 | December 6, 2024

  Stock in focus: Voltas obtains a pending material litigation in its favor; ₹4.13 crore demand dropped off

  Voltas informed the exchanges that out of the Excise Duty Matters (Total Demand: Rs. 19.72 crores), one of which was pending before the Custom, Excise & Service Tax Appellate Tribunal, Mumbai (CESTAT), has been decided in favour of the Company and the demand of Rs. 4.13 crores has been dropped. 

  Voltas stock gained 2.12% on the NSE to trade at ₹1,703.20

• 13:18 | December 6, 2024

  Stock market Live updates: Landmark car to acquire Kia Showroom in Hyderabad

  Landmark Cars executes an Asset Transfer Agreement to acquire KIA Showroom in Hyderabad.

  Landmark Cars stock rose 1.04% on the NSE to ₹693.

• 13:12 | December 6, 2024

  Stock market live news: Fundraising through equities has reached ₹54,738 cr, says NSE

  Overall fund raising through equities reached ₹54,738 crore.

  Mainbaord IPOs issuances: ₹33,759 crore

• 13:05 | December 6, 2024

  Market midday update: Sensex and Nifty tread cautiously as sectoral trends emerge 

  Read the full report here.

• 12:59 | December 6, 2024

  Stock market live update: Samvardhana board nod for acquisition of Japan’s Atsumitech

  Samvardhana Motherson International’s board has approved an acquisition of Japan-based Atsumitec Co., Ltd. via a 100% subsidiary of Samvardhana Motherson Automotive Systems Group B.V.

  Samvardhana Motherson shares surged 3.75% on the NSE to ₹173.27.

• 12:58 | December 6, 2024

  Stock market live updates: Stimulating growth is critical, says Parijat Agrawal, Head of Fixed Income at Union Asset Management on RBI MPC decision

  “The Monetary Policy Committee’s decision to keep the Repo Rate steady while reducing the Cash Reserve Ratio (CRR) by 50 basis points to ease tight liquidity conditions was in accordance with our expectations. The moderation in growth and the persistence of headline inflation are concerning factors that may necessitate timely policy support. Addressing the challenge of stimulating growth is critical and should not be overlooked. Core inflation has consistently remained below the 4% target for nearly a year. Looking ahead, food inflation is expected to ease due to lower commodity prices, a slowdown in demand as seen in GDP numbers, comfortable reservoir levels, seasonal drops in vegetable prices, and higher Kharif harvest. We anticipate a 25 basis points rate reduction in the upcoming February policy.”

• 12:57 | December 6, 2024

  Stock markets live updates: RBI did not have choice on liquidity, says Sandeep Yadav, Head - Fixed Income, DSP Mutual Fund

  The RBI has erred on caution. They did a CRR cut, but no Repo cut (our base case in pre-policy expected one of the two, with dispersion risks). No rate cuts mean no shocks. However, RBI announced CRR cut to ease liquidity. They did not have much choice. With liquidity set to tighten by around 1.5 lac cr, RBI had to give durable liquidity. In fact, RBI’s FX swaps earlier this week had already forewarned us about this action.

  RBI has changed their view on inflation targeting. Inflation management has now become “flexible”, from a target of “4%”. Thus, the RBI continues to move in the direction cast in the last policy when they mentioned that they have a “dual mandate” of growth and inflation. Also, when inflation was close to 4%, RBI decided to “look through it” as CPI would rise in Q3 (which it did) and it was “inflation projection” that mattered, not “current inflation”. When RBI said today that inflation will be 4.5% next quarter, they decided not to focus on “inflation projection” but at the “current inflation”.

  We believe it’s because of rupee risk. An easy monetary policy can only lead to further pressure on the rupee, and the RBI must remain cautious. Gov Das couldn’t have spelled the rupee risks in the policy as that would have put more pressure. Despite what RBI says, the rupee risks remain dominant on RBI as evidenced by the increase in FCNR rates. All in all, before going into the policy the market was divided. Thus, post policy there will be critics and proponents. For us, we think it was a balanced policy - hedging all the risks.

• 12:53 | December 6, 2024

  Markets news updates live: Ganesh Infra lists at 90% premium

  Ganesh Infraworld shares listed on NSE Emerge (SME) at ₹157.70. at a 90% premium over the issue price of ₹83.

  The stock currently trades higher at ₹165.55, its upper circuit.

• 12:52 | December 6, 2024

  Stock market live updates: Synergy Green stock surges 4%, following deal with Envision to make wind turbing castings

  Synergy Green Industries has entered supply agreement with Envision Energy India Pvt Ltd for manufacturing of Wind Turbine Castings.

  Synergy Green Industries stock surged 3.79% on the NSE to trade at ₹469.90

• 12:34 | December 6, 2024

  Stock market live updates: Stanley Lifestyles opens new store in Coimbatore

  Stanley Lifestyles Limited has opened a new flagship store - ‘Stanley Level Next’ in partnership with Newmens Furniture in Coimbatore, Tamil Nadu.

  Shares flat on the NSE at ₹443.

• 12:33 | December 6, 2024

  Stock market updates Live: Maruti to raise prices up to 4% in January 2025

  Maruti Suzuki has planned to increase the prices of its cars from January 2025. The price increase is expected to be up to 4% and will vary depending on the model. Read the report here.Maruti Suzuki stock trades flat on the NSE at ₹11,270.

• 12:23 | December 6, 2024

  Stock market live updates: Royalux enters into MoU with Metco Engineering for supply of energy-saving products

  Royalux LLC (wholly owned subsidiary of IKIO Solutions Private Limited and Step-down Subsidiary of IKIO Lighting Limited) has entered into Memorandum of Understanding (MOU) with Metco Engineering Inc. (A public contracts engineering design company with ESCo registration, having place of business at Texas USA) for supply of energy saving products, including but not limited to Solar Panels, LED Lighting Solutions, Other energy. IKIO Lighting stock gained 2.32% on the NSE to trade at ₹277.95.

• 12:19 | December 6, 2024

  Stock market live news: LTIMindtree says subsidiary in France dissolved

  LTIMindtree informed the exchanges that Syncordis SARL, a step down wholly-owned subsidiary of the company in France, has been dissolved effective November 29, 2024.

  LTIMindtree stock trades flat on the NSE at ₹6,380.

• 12:09 | December 6, 2024

  Stock market updates live: Suraksha Diagnostic debuts, trading at 3.1% lower than offer price

  Shares of Suraksha Diagnostic traded at ₹424.45 on the NSE, lower by 3.09% as at 12.05 pm. Track live updates here.

• 12:07 | December 6, 2024

  Stock market updates live: Top gains at noon include Bajaj Auto, Axis Bank, Titan, BPCL and Bajaj Finance

  Bajaj Auto (2.31%), Axis Bank (1.95%), Titan (1.43%), BPCL (1.40%), Bajaj Finance (1.23%) 

  Top losers: 

  Cipla (-1%), HDFC Life (-0.93%), Infosys (-0.88%), Adani Ports (-0.78%), Bharti Airtel (-0.70%)

• 12:06 | December 6, 2024

  Stock markets live updates: More stocks advanced than declined, 2,402 to 1,389

  Stocks advanced on BSE at 12 noon on December 6, 2024, were 2,402 against 1,389 stocks that declined, and 154 remained unchanged. Total stocks traded were 3,945. The number of stocks that recorded a 52-week high was 205, and those that hit a 52-week low was 9. A total of 322 stocks traded in the upper circuit, and 163 in the lower circuit.

• 11:57 | December 6, 2024

  Stock market updates live: Ramco Systems surges on the NSE after pact with Hanjin of Korea

  Ramco Systems stock surged 3.90% on the NSE to ₹493.95. Company entered into a partnership with Hanjin Information Systems & Telecommunication (HIST), a leading ICT services company and a subsidiary of the Hanjin Group, Korea.

• 11:49 | December 6, 2024

  Stock market updates live: Adani Wilmar names new Dy CEO

  Adani Wilmar Limited names Shrikant Kanhere as the Deputy Chief Executive Officer.

• 11:49 | December 6, 2024

  Stock Markets update live: Baazar Style retail opens new store in U.P.

  Baazar Style Retail has opened a new store of Style Baazar in Betiahata, Uttar Pradesh.

  The stock rallied 10.23% on the NSE to trade at ₹353.40.

• 11:34 | December 6, 2024

  Live updates Market news: Canara Bank shares rise following RBI’s approval for divestment in Canara Robeco and Canara HSBC Life Insurance

  Canara Bank shares gained 2.3% from the previous close to hit an intraday high of ₹110.80 on the NSE, following RBI approval for divestment in in Canara Robeco Asset Management Company Ltd and Canara HSBC Life Insurance Company shareholding.

• 11:28 | December 6, 2024

  Live Market News Updates: RITES stock surges 3.18% on the NSE

  RITES stock surged 3.18% on the NSE to ₹296.55 following receipt of a latest contract valued at ₹148.25 Crore. Read more here.

• 11:22 | December 6, 2024

  Live Market News Updates: Chandan Taparia, Head, Equity Derivatives & Technicals, Wealth Management, MOFSL.

  Chandan Taparia, Head, Equity Derivatives & Technicals, Wealth Management, MOFSL.

  Nifty index is in buy on dips mode as overall trend remains Bullish and Nifty traded higher for the past 5 trading sessions. Nifty has crossed the resistance of 24500 levels. Throughout the week, sustained buying was seen from lower levels. Index is taking strong Support near 24350 zones which is also close to it 50 DEMA. On weekly chart Nifty has formed a Bullish candle which indicates some more strength towards the next resistance of 24800 then 25000 levels. Index is also trading above all short term moving averages and the current price action suggests that further Up-move may occur.

  The increase in the long-short ratio from 38.14% along with FIIs buying over ₹5000 crore from past some days indicates continued Bullish picture in the market. Overall as per price structure, till Nifty holds above 24500 zones, dips could be purchased for the upside target towards 25000 zones. On Weekly basis it has formed a strong Bullish candle indicating continued buying.

  On option front, Maximum Call OI is at 25500 then 25000 strike while Maximum Put OI is at 24500 then 24000 strike. Call writing is seen at 24800 then 24850 strike while Put writing is seen at 24500 then 24700 strike. Option data suggests a broader trading range in between 24000 to 25500 zones while an immediate range between 24500 to 24850 levels.

• 11:12 | December 6, 2024

  Tembo Global Industries bags order valued ₹52.90 cr

  Tembo Global Industries has bagged order valued ₹52.90 Crore for Water Irrigation Project. 

  Shares trade at ₹767.65 on the NSE, up 2%

• 11:11 | December 6, 2024

  Stock Market News Live Updates: Kernex Microsystems receives order worth ₹2,041.40 crore

  Kernex Microsystems has received order for ₹2,041.40 crore from Chittaranjan Locomotive Works

  Shares hit upper circuit on the NSE at ₹1,137.90, higher by 5%

• 11:09 | December 6, 2024

  Stock Market News Live Updates: Ujjivan Small Finance Bank appointed Balakrishna Kamath as Chief Financial Officer.

  Ujjivan Small Finance Bank appointed Balakrishna Kamath as Chief Financial Officer.

• 10:58 | December 6, 2024

  Stock market updates live: MPC delivers exactly what economy, markets need, says V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

  “Monetary policy has delivered exactly what the economy and markets need in the present context. The Governor’s emphasis on price stability is appropriate given the elevated level of inflation. The decision to cut the CRR by 50bp facilitating injection of Rs 1.16 trillion of liquidity into the system will ease the liquidity constraints and more importantly reduce the banks’ cost of funds. From the market perspective, this is an excellent policy response. Banking stocks will remain resilient.”

• 10:57 | December 6, 2024

  Stock market updates live: Angel One shares dip

  Angel One shares dip 1.36% on the NSE, trading at ₹3178. Its gross client acquisition decreased 11.9% y-o-y and 14.6% m-o-m in November 2024 when compared with a year ago and a month ago period.

• 10:42 | December 6, 2024

  Stock market live updates: Crude oil futures edge lower after OPEC+ delays production output increase

  Read about this and about other commodities in our report here.

• 10:40 | December 6, 2024

  Stock markets live updates: views of IMGC on RBI decision to hold rates steady

  The RBI kept the repo rate unchanged due to inflationary pressures. Despite the GDP growth rate for Q2 FY25 being significantly lower than expected, the RBI is unlikely to shift its stance to accommodate growth. High-frequency indicators show early signs of recovery in the second half of the fiscal year, but inflation risks remain elevated. Affordability has become challenging as loans remain expensive and property prices have steadily increased. Residential real estate sales have moderated, with high-end, mid-end, and affordable segments largely flat over the last quarter. Factors such as high capital values, inflation pressures, and uncertainty around the RBI’s repo rate cut may lead some homebuyers, especially in metros, to adopt a wait-and-watch approach. Meanwhile, Tier 2 and 3 cities continue to drive growth in housing loans - Kanika Singh, Chief Risk Officer, IMGC

• 10:38 | December 6, 2024

  Stock market live updates: Nifty Bank indices in focus today

  Nifty PSU Bank index gained 0.63% to 7,170.50; Nifty Private Bank index inched up 0.16% to 26,001.10; and Nifty Bank traded at 53,675.50, up 0.13%

• 10:34 | December 6, 2024

  Stock Market Live News Updates: Adani Green Energy issues clarification

  Adani Green Energy has issued clarification regarding news report - Power regulator questions transfer of Azure’s 2,333 MW share to the company. 

  Solar Energy Corporation of India Ltd. (“SECI”) had filed a petition before the Central Electricity Regulatory Commission (“CERC”) in April 2024. SECI had placed on record the power purchase agreements for 1799 MW executed in December 2023 and for 534 MW executed in March 2024 between SECI and relevant subsidiaries of Adani Green Energy Limited (“Company”) as well as the supplemental power sale agreements executed in December 2023 and March 2024 between SECI and AP Discoms and Government of Andhra Pradesh. These agreements were executed subsequent to CERC’s order dated April 2, 2022, wherein the tariff was adopted by CERC for a total of 8,800 MW power, to be supplied to various states. CERC order is awaited in this regard.

  Adani Green Energy stock rose 1.02% on the NSE to ₹1,242.10

• 10:27 | December 6, 2024

  Stock Market Live News Updates: Garden Reach Shipbuilders & Engineers up 1.33% on the NSE

  Garden Reach Shipbuilders & Engineers stock is up 1.33% on the NSE, trading at ₹1,783.65, on signing a contract for construction and delivery of the second ship from a series of the four additional 7,500 DWT Multi-Purpose Vessels in Hamburg, Germany.

• 10:26 | December 6, 2024

  Stock Market Live News Updates: Suraksha Diagnostic stock lists at nearly 1% discount,

  Suraksha Diagnostic stock lists at nearly 1% discount.

  Track Live Updates here

• 10:23 | December 6, 2024

  Stock Market Live News Updates: RBI holds rates steady, market awaits liquidity steps

  Investors are now on watch for any measures by central bank to ease liquidity deficit in the banking system, which could help bring down market interest rates

  Click here to read more
• 10:03 | December 6, 2024

  Stock Market Live News Updates: Market surges ahead of RBI policy meet, investors await key signals

  The Sensex opened at 81,887.54 and Nifty at 24,729.45 compared to its previous close of 24,708.40 and is now at 24,709.70

  Click here to read more
• 10:02 | December 6, 2024

  Stock Market Live News Updates: Ola Electric shares dip 1.16% on the NSE

  Ola Electric shares dipped 1.16% on the NSE to ₹97.38, Company informed the exchanges that it has received further communication from Central Consumer Protection Authority (CCPA) seeking additional documents and information from the company. CCPA provides a timeline of 15 days to submit the response.

• 10:01 | December 6, 2024

  Stock Market Live News Updates: Vodafone Idea board to consider fund raising

  Vodafone Idea board to consider fund raising at its meeting on December 9.

• 09:44 | December 6, 2024

  Stock Market Live News Updates: Mishtann Foods clarifies on Interim Order Cum Show Cause Notice issued by SEBI 

  Mishtann Foods clarifies regarding the Interim Order Cum Show Cause Notice issued by SEBI 

  The said Interim Order is a show cause notice wherein explanation from the company has been sought on certain allegations against the company. The SCN is NOT a final order and is inter alia asking for an explanation from the Company. 

  MFL doesn’t agree with the contents and the prima facie observations of the said Interim order. 

  The management of MFL totally denies all the purported allegations mentioned in the Interim Order cum Show Cause Notice dated 05/12/2024

  Mishtann Foods stock plummeted 19.97% on the BSE to trade at ₹12.42, lower circuit.

• 09:40 | December 6, 2024

  Stock Market Live News Updates: GST search on Just Dial

  Maharashtra State GST authorities initiated a search under Section 67(1) and 67(2) of Maharashtra Goods and Services Tax Act, 2017 on December 5, 2024 at Just Dial’s registered office in Mumbai. 

  Just Dial shares trade flat on the NSE at ₹1,128.60

• 09:39 | December 6, 2024

  Stock Market Live News Updates: Edelweiss Financial Services files draft red herring prospectus

  Edelweiss Financial Services informed the exchanges that EAAA India Alternatives Limited, a wholly owned subsidiary of the Company, has filed a draft red herring prospectus with SEBI, BSE Limited and National Stock Exchange of India Limited in connection with a proposed initial public offering. The IPO comprises an offer for sale (“OFS”) for an amount not exceeding ₹1500 crore, which is proposed to be undertaken by Edelweiss Securities & Investments Private Limited (ESIPL), a wholly owned subsidiary of the Company.

  Edelweiss Financial stock declined 1.07% on the NSE to ₹130.06

• 09:38 | December 6, 2024

  Stock Market Live News Updates: Fusion Finance board okays rights issue

  Fusion Finance board has approved the issuance of partly paid-up equity shares of face value of ₹10 each of the Company by way of a rights issue to the existing shareholders of the Company for an amount aggregating upto ₹ 800 crore.

  Shares declined 1.27% on the NSE to ₹182.41

• 09:37 | December 6, 2024

  Stock Market Live News Updates: Sarveshwar Foods gets export order

  Sarveshwar Foods Limited secures export order for 5,350 MT of Basmati Rice valued approx. ₹498 million from I SIFOL LLC, USA

  Shares surged 4.06% on the NSE to ₹10.26

• 09:36 | December 6, 2024

  Stock Market Live News Updates: Top gainers, Top losers on NSE

  Top gainers on the NSE as at 9.30 am:

  Bajaj Auto (2.39%), Eicher Motors (1.68%), ITC (1.53%), Power Grid (1.01%), Hero Motocorp (0.92%)

  Top losers:

  TCS (-1.04%), Wipro (-0.74%), Tata Motors (-0.64%), L&T (-0.58%), Ultratech (-0.48%)

• 09:35 | December 6, 2024

  Stock Market Live News Updates: Rupee up 5 paise

  Rupee rises 5 paise to 84.66 against US dollar in early trade.

• 09:23 | December 6, 2024

  Stock Market Live News Updates: Crude oil futures trade marginally lower

  Crude oil futures traded marginally lower on Friday morning after OPEC+ delayed plans to increase production output by three more months, raising concerns about slowing demand for the commodity. At 9.20 am on Friday, February Brent oil futures were at $72.04, down by 0.07 per cent, and January crude oil futures on WTI (West Texas Intermediate) were at $68.29, up by 0.01 per cent. December crude oil futures were trading at ₹5796 on Multi Commodity Exchange (MCX) during the initial hour of trading on Friday against the previous close of ₹5805, down by 0.16 per cent, and January futures were trading at ₹5787 against the previous close of ₹5798, down by 0.19 per cent.

• 09:19 | December 6, 2024

  Stock Market Live News Updates: Sensex up by 8.75 points

  Sensex traded at 81,774.61, positive by 8.75 pts or 0.01% as at 9.16 am, and Nifty 50 at 24,703.15, down by 5.25 pts or 0.02%

• 08:45 | December 6, 2024

  Stock Market Live News Updates: NHAI to Issue Green Bonds Worth Rs. 1,000 cr

  National Highways Authority of India’s fully owned Special Purpose Vehicle (SPV) ‘DME Development Limited’ (DMEDL) will issue green bonds to raise funds for the implementation of environment friendly measures on Delhi-Mumbai Expressway project. 

  To be held under closed bidding system, the aggregate total size of the issue will be up to Rs.1,000 crore with a base issue size of Rs. 500 crore. There will be a green-shoe option to retain oversubscription up to Rs. 500 crore. The first of its kind green bond issue in Roads and Highways sector is expected to be launched in the second week of December 2024 and will be completed with strict compliance to Government of India’s sovereign green bonds framework, international protocols and SEBI guidelines.

• 08:43 | December 6, 2024

  Stock Market Live News Updates: Suraj Estate Developers acquires land for Rs 101 crore

  Suraj Estate Developers acquires a vacant land parcel at Senapati Bapat Marg Mahim West for Rs. 101 crores

  Suraj Estate Developers has announced the acquisition of a vacant parcel of land measuring approx.1,464 sq. Meters. The said plot of land upon development will have an estimated RERA Carpet area of 1.03 lakh square feet. The new plot is located adjacent to an existing vacant land acquired earlier by the company, also for the development of a commercial building

  The said two plots upon amalgamation will have combined plot area of approximately 3,000 square meters which is estimated to have sale RERA carpet area of 2.10 lakh square feet with an estimated GDV of 1,000 crore.

• 08:36 | December 6, 2024

  Stock Market Live Updates: Fund House Recommendations

  GS on Westlife: Maintain Buy on Company, target price at Rs 1045/Sh (Positive) 

  Jefferies on Newgwn: Maintain Buy on Company, target price at Rs 1500/Sh (Positive) 

  JP Morgan on ACC: Maintain Overweight on Company, target price at Rs 3250/Sh (Positive) 

  JP Morgan on Ultratech: Maintain Overweight on Company, target price at Rs 13470/Sh (Positive) 

  JP Morgan on Indus Tower: Maintain Overweight on Company, target price at Rs 520/Sh (Positive) 

  Nuvama on Zentec: Maintain Buy on Company, target price at Rs 2000/Sh (Positive) 

  BofA on Divis Lab: Maintain Buy on Company, target price at Rs 6850/Sh (Positive) 

  Axis on CUB: Initiate Buy on Bank, target price at Rs 220/Sh (Positive) 

  MS on India Strategy: Overweight on Financials, Consumer, Industrials and Technology (Positive) 

  Nomura on RBI Meet: Maintain out-of-consensus call for 25 bps repo rate cut to 6.25% on December 6 (Positive) 

  Macquarie India Strategy: Key themes for 2025: Slowing growth momentum, earnings fatigue, and foreign fund outflows to test resilience of domestic liquidity. (Neutral) 

  Jefferies on Pharma Sector: Indian CRO/CDMO stocks have delivered strong returns in the last 6 months, see near-term triggers with US senate likely taking up biosecure act in its last session (Neutral) 

  HSBC on Swiggy: Initiate Hold on Company, target price at Rs 550/Sh (Neutral) 

  JP Morgan on HDFC Bank: Maintain Neutral on Company, target price at Rs 1750/Sh (Neutral) 

  UBS on Bajaj Auto: Maintain Sell on Company, target price at Rs 7900/Sh (Neutral)

• 08:32 | December 6, 2024

  Stock Market News Live Updates: NSE Caution to Investors

  It has been brought to the notice of the Exchange that it has received reports of unauthorised individuals and entities falsely claiming to provide securities market tips and assured/guaranteed returns on investments in the stock market. The following names have been brought to the Exchange’s attention: 

  · Person named “Nitin Kumar” having Telegram Channel named “ASHMITA PATEL DAILY PROFIT MARKET TRADING” with link “https://t.me/ASMITA_PATEL_DAILY_PROFIT_MARKET” and operating through mobile number “9079346153” is providing securities market tips, assured/guaranteed returns on investment in stock market and offering to handle trading account of investors by asking investors to share their Login ID/Password.

  · Person named “Sandeep Meena” falsely claiming to be associated with entity named “Motilal Oswal” operating through mobile number “8962817393” is providing securities market tips and assured/guaranteed returns on investment in stock market. Investors are requested to take note that “Motilal Oswal Financial Services Ltd”, a registered trading member of Exchange, has informed NSE that the above-mentioned person and the entity are not associated with them in any manner.

  · Person named “Praveen” operating through mobile number “9520707107” is providing dabba/illegal trading platform in the market.

  · Entity named “Trade with Guruji of Technical” operating through mobile numbers “9099749915”, “9558869326” “8512851040” and “9205373083” is providing assured/guaranteed returns on investment in stock market.

• 08:29 | December 6, 2024

  Stock Market News Live Updates: Magma HDI in pact with Mahindra Finance

  Magma HDI General Insurance Company has entered into a corporate agency agreement with Mahindra Finance. Under this agreement, Magma HDI will provide tailor-made insurance solutions to Mahindra Finance customers with a bouquet of general insurance products within the motor and non-motor segments.

  The signing ceremony was attended by Raul Rebello, Managing Director & CEO of Mahindra Finance, and Rajive Kumaraswami, Managing Director and CEO of Magma HDI General Insurance in the presence of other senior officials.

• 08:26 | December 6, 2024

  Stock Market News Live Updates: SMFG India Credit (SMICC) awarded credit rating of “AA-”

  SMFG India Credit (SMICC), a wholly-owned subsidiary of Sumitomo Mitsui Financial Group (SMFG), has been awarded an international credit rating of “AA-” with a stable outlook by the Japan Credit Rating Agency (JCR). This exceptional outcome places SMICC four notches above India’s sovereign rating and only one notch below its parent financial group SMFG’s own “AA” rating.

  JCR highlighted SMICC’s strategic importance to SMFG’s Asia Multi-Franchise Strategy, which is supported by robust governance and alignment with SMFG’s ethos of promoting financial inclusion and empowering underserved communities in India.

  Pankaj Malik, Chief Financial Officer, SMFG India Credit, said “This AA- rating by JCR is a testament to SMFG India Credit’s commitment to maintaining financial discipline, operational excellence, and customer-centric growth with the help of innovative products offerings. SMICC’s consistent growth trajectory and strategic alignment with SMFG’s global objectives position us as a key player in India’s rapidly expanding retail loan market. This recognition further motivates us to continue fostering financial inclusion and delivering value to our stakeholders.”

• 08:24 | December 6, 2024

  Stock Market News Live Updates: India Daybook – Stocks in News

  India Daybook – Stocks in News

  GRSE: Company signs contract for construction and delivery of 2nd ship from series of 4. (Positive)

  Waaree Energies: Company secured a second NABL accreditation for its advanced PV module testing lab in Chikhli, Gujarat. (Positive)

  Dynamic Services: Company gets offer letter for “Mega Project” from the Government of Maharashtra to set up a new project for manufacturing of solar PV panels 1800 MW (Positive)

  Afcons Infrastructure: Company achieves longest tunnelling drive for DMRC in Delhi Metro Phase 4. (Positive)

  Shriram Pistons: Company renewed its 5-year Technical Collaboration Agreement with Fuji Oozx Inc., Japan. (Positive)

  PG Electroplast: Company’s long-term rating upgraded to CRISIL A+. (Positive)

  NBCC: Company wins ₹599.35 Cr work order from National Health Mission, Maharashtra (Positive)

  Abha Power: Company secured a ₹6 crore order from Indian Railways. (Positive)

  Lemon Tree Hotels: Company announced a new resort in Pavagadh, Gujarat, India. (Positive)

  Advait Energy: Company received a domestic order from NRSS Transmission Ltd for Supply and Installation of 24 F OPGW for a 400 KV transmission line (Positive)

  Harsha Engineers: Company signed a long-term agreement with a multinational bearing company to supply bearing cages. (Positive)

  Mehai Technology: Company receives ₹16.24 Cr order from Leapfrog Engineering for equipment maintenance. (Positive)

  Electronics Mart: Company opened a new Bajaj Electronics store (6,300 sq ft) in Vijayawada, Andhra Pradesh. (Positive)

  Canara Bank: RBI approves for divesting its shareholding in Canara Robeco AMC & Canara HSBC Life Insurance Company by 13% and 14.5% respectively through IPO. (Positive)

  GPT Healthcare: Company said it has entered into a MoU and Letter of Intent with Naveen Singh and other lessors to construct and finish a high-class hospital building in Jamshedpur. (Positive)

  RITES: Company said it has been appointed as the Project Management Consultant for the development of the Phase II campus of the IIM Raipur. (Positive)

  Larsen & Toubro: Company received a Rs 4.4 crore penalty notice from the Joint Commissioner, CGST & Central Excise, Jamshedpur. (Neutral)

  \u0009

  Kolte-Patil Developers: Company to sell 17% stake in Kolte-Patil planet kiwale project, deal worth Rs 37.9 million (Neutral)

  Sylph Technologies: Company board approved a rights issue to raise up to Rs 49 Cr. (Neutral)

  Zenith Drugs: Company participated in the CPHI 2024 convention in Delhi NCR, connecting with over 3000 industry professionals. (Neutral)

  VSTL: Company’s Odisha Unit III operational start delayed to end of January 2025 due to electricity connection delays. (Neutral)

  Canara Bank: CRISIL reaffirmed Bank’s debt instrument ratings. (Neutral) 

  Maruti Suzuki: Company informs that the NCLAT hearing on CCI matter, previously adjourned multiple times, has been further adjourned to February 7, 2025. (Neutral)

  UniHealth Hospitals: Company approved ₹10,00,00,000 additional capital contribution to its subsidiary, UMC Hospitals Pvt. Ltd., through a rights issue of 74,48,000 shares at ₹10 each. (Neutral)

  ABFRL: Company received a GST order from Chennai’s Assistant Commissioner, Kotturpuram Assessment Circle, and demanding Rs 2.45 Cr (Neutral)

  L&T: Company issued Rs 1,500 crore worth of 7.19% Non-Convertible Debentures. (Neutral)

  Ola Electric: Company received further communication from CCPA on Dec 4, 2024, requesting additional documents within 15 days. (Neutral)

  Welspun Living: Company Ltd announced the approved amalgamation of its wholly-owned subsidiaries: Welspun Home Solutions Ltd and Welspun Advanced Materials. (Neutral)

  GAIL: Company’s CSR initiative launched 2 Mobile Medical Units and an advanced life support ambulance to AIIMS. (Neutral)

  Apollo Tyres: Company announced the cut-off date for its postal ballot on the issuance of up to Rs 10,000 million in Non-Convertible Debentures via private placement. (Neutral)

  Torrent Power: Company raises ₹3,500 crore through its QIP; 50% shares issued to one MF (Neutral)

  Mahindra Logistics: Company’s ₹100 crore Commercial Paper credit rating (ICRA A1+) remains valid, as confirmed by ICRA on Dec 5, 2024. (Neutral)

  KIMS: Company increased its stake in subsidiary Arunodaya Hospitals by 3% to 70.66%, costing Rs 2.25Cr. (Neutral)

  Muthoot Capital Services: Company approved issuing Rs 90 crore Non-Convertible Debentures via private placement. (Neutral)

  Shriram Asset Management: Board will meet on Dec 10, 2024, to consider a preferential share issue. (Neutral)

  Tata Motors: JLR’s total sales down 11% at 5,558 units vs 6,251 units year-on-year. (Neutral)

  FSN E-Commerce: Nykaa Fashion CEO, Mr. Nihir Parikh, resigned effective December 5, 2024, due to personal reasons. (Negative)

  Spandana Sphoorty: ICRA revised outlook to negative from stable for Spandana Sphoorty, rating reaffirmed ICRA A+ (Negative)

  Mishtann Foods: SEBI has ordered Mishtann Foods to recover nearly ₹100 crore, misappropriated or diverted through group entities and its promoters. (Negative)🌹 

• 08:21 | December 6, 2024

  Stock Market News Live Updates: Economic Calendar – 06.12.2024

  Economic Calendar – 06.12.2024

  10.00 INDIA RBI Monetary Policy (Expected: 6.5% versus Previous: 6.5%)

  10.00 INDIA RBI Press Conference 

  15.30 EURO Revised GDP q/q (Expected: 0.4% versus Previous: 0.4%)

  19.00 U.S. Unemployment Rate (Expected: 4.1% versus Previous: 4.1%)

  19.00 U.S. Non-Farm Employment Change (Expected: 218K versus Previous: 12K)

  20.30 U.S. Prelim UoM Consumer Sentiment (Expected: 73.3 versus Previous: 71.8)

• 08:08 | December 6, 2024

  Stock market live updates: Stock under F&O ban on NSE

  December 6, 2024 

  1. GRANULES

  2. MANAPPURAM

• 08:07 | December 6, 2024

  Stock markets Live updates: Today’s Key Results and Board Meetings

  December 6, 2024

  HARISH

  Quarterly Results

  IITL

  IITLPROJ

  07-Dec-24

  AUTOPAL: Reduction of Capital;Preferential Issue of shares

  MUZALI: Audited Results and A.G.M.

  09-Dec-24

  ASIANTNE: Increase in Authorised Capital

  EUROLED: General

  IGCIL: General

  INDONG: General; Increase in Authorised Capital

  SHRADDHA: Bonus issue; General

• 08:05 | December 6, 2024

  Stock market updates live: What are today’s corporate actions expected?

  December 6 Ex Date

  CITL: Bonus issue 1:1 and stock split from ₹10/- to ₹1/-

  DRL: E.G.M.

  ERAAYA: Stock Split From ₹10/- to ₹1/-

  GRPLTD: E.G.M.

  MAHANIN: Reduction of Capital

  NTL: Resolution Plan -Suspension 

  PHOENIXTN: Interim Dividend - ₹0.10

  RAMAPPR-B: E.G.M.

  STAR: Spin Off

• 08:02 | December 6, 2024

  Stock market updates live: stocks that will see action today - December 6

  Here are the stocks that might see some buzzing action today.

• 07:50 | December 6, 2024

  Stock market live updates: Gift Nifty indicates positive start even as the focus shifts to RBI meet outcome

  Here’s the full report.

• 07:36 | December 6, 2024

  Stock market live updates: SEBI bans Mishtaan Foods and its MD from the markets

  SEBI bans Mishtann Foods, MD Hiteshkumar Patel, 3 others from markets till further orders. Here are the details.

• 07:30 | December 6, 2024

  Stock market updates live: RBI approves Canara Bank’s stake divestment in asset management and insurance units

  The central bank on December 5 said that Canara Bank could now offload stake in its asset management and insurance firms.

• 06:49 | December 6, 2024

  Stock market live updates: No repo rate cut, CRR cut, possible says IIFL Institutional Equities

  Status quo on Repo rate, Feb cut likely: RBI had not cut rate so far citing high headline inflation as the reason, while ignoring growth concerns. Our understanding that food inflation won’t generalise into core inflation has proved right as core inflation has remained under 4%. 2Q GDP growth slowed considerably (though it had several one-offs), and we have been highlighting that a rate cut was much needed to support growth.

  However, global macro setting has changed post Trump’s victory and new risks loom over world economy. USD has strengthened against EM currencies and RBI is intervening actively to support INR as evident by depleting FX reserves. If USD continues to strengthen, FII selling from EMs will further exacerbate. Trump’s potential plan to impose 60% tariffs on all Chinese imports can lead to China devaluing Yuan, followed by devaluation by other EMs, eventually triggering a currency crisis. India’s inflation preparedness is relatively poor, and any sharp currency devaluation could immediately turn up inflation. Hence, we now expect modest rate cuts starting Feb 2025. 

  Liquidity management crucial, CRR cut a possibility: Banks credit growth moderated to 11.7% yoy in Nov and growth is slowing down across the board. Private consumption has slowed down too in 2Q. To stimulate growth, RBI should cut CRR by 50bps and bring it back to pre-covid level of 4%. Banking system surplus liquidity has been declining lately and a CRR cut will ensure durable liquidity is infused into the system and will better facilitate the transmission of repo rate cut in Feb.

  Outlook on inflation and GDP: Inflation is expected to moderate by 4QFY25 as Kharif harvest is going to be good. Core inflation has remained under 4% for long. Still, RBI may up its FY25 inflation forecast from 4.5% currently by 20-30bps as inflation was higher than expected in recent months. On the growth front, we expect a downward revision of 20-30bps in RBI’s FY25 growth estimates from current 7.2%, as 2Q numbers missed estimates by wide margin.

• 06:45 | December 6, 2024

  Stock market Live Updates: Take a look at fund flow activity for Dec 5

  Fund Flow Activity:

  05 December 2024 (Rs. In Cr.)

  Turnover: (NSE + BSE)

  Cash Volume: 132760.85 + 6909.75 Total: 139670.6

  F&O Volume: 537208.23 + 2855941.05 Total: 3393149.28

  Provisional Cash

  FII/FPI: NET BUY: +8539.91

  (24,716.78 – 16,176.87) 

  DII: NET SELL: -2303.64 

  (13,395.84 – 15,699.48)

• 06:44 | December 6, 2024

  Stock market updates Live: Stock to buy today: Blue Star (₹1,964.50) BUY

  Blue Star (₹1,964.50) is the stock we have chosen to evaluate today. The recommendation is BUY.Here’s video footage of our colleague K. Gurumoorthy explaining the details; Watch here.

• 06:40 | December 6, 2024

  Markets Live updates: A quick recap of stories from December 5.

  Welcome to the Live session for the Stock markets on Friday Dec 6. Find here a quick recap of stories from yesterday:

  SEBI proposes auction for stock closing price in equity cash segment. Read the report here.

  Indian IPO market soars to $17.3 bn so far in 2024, nearing record highs.

  Sensex, Nifty surge amid volatile session; IT sector leads gains. Here are the details.

Published on December 6, 2024