Share Market Highlights September 12, 2024: Sensex crosses 83,000, Nifty logs 55th record high of 2024 on global cue

Asian Granito has announced the launch of new products - Water Closets, Basins and Accessories, Kitchen Sink, Faucets and Showers.

Hindalco (4.15%), Bharti Airtel (3.56%), NTPC (3.36%), Shriram Finance (3.36%), Grasim (2.94%)

Only loser:

Nestle (-0.11%)

US International Development Finance Corporation (DFC) announced its commitment to a longterm loan of up to US$20 million to Panacea Biotec.

Bizotic Commercial has announced the opening new store of 1600 sq. ft in Ahmedabad.

Shares were up 5.37% to trade at ₹52 on the BSE

HPL Electric & Power Limited has received work orders of ₹143.77 crore

Shares surged 5.12% on the BSE, trading at ₹608.10

Sundaram Multi Pap Limited has entered into an ESCROW AGREEMENT with Sundaram Land and Assets Private Limited for the purpose of monetising its non-operational assets of its Nagpur Division comprising of non-core asset bearing Industrial land (1,09,000 sq. mt) situated at Sihora, Nagpur, Maharashtra for a consideration of ₹18.75 core.

Top gainers on the NSE as at 3.08 pm:

Bharti Airtel (4.53%), Hindalco (4.38%), NTPC (3.98%), Shriram Finance (3.83%), M&M (3.43%)

No shares were trading negative on the Nifty 50 pack.

Stocks advanced on BSE at 3.07 pm on September 12, 2024, were 2,326 against 1,589 stocks that declined, and 128 remained unchanged. Total stocks traded were 4,043. The number of stocks that recorded a 52-week high was 273, and those that hit a 52-week low was 36. 

A total of 312 stocks traded in the upper circuit, and 223 in the lower circuit.

Mahindra & Mahindra has sold 73,695 units of vehicles in August 2024 as against 67,927 units in August 2023. 

Shares were up 2.94% on the NSE trading at ₹2,732.40

IndusInd Bank has been imposed a penalty of ₹25,000 by Reserve Bank of India for some of the observations to be complied as found during inspection of currency chest.

Stock trades at ₹1,439.35 on the NSE, higher by 1.28%.

Thermax has entered into a Collaboration and License Agreement with Ceres Power Limited (Ceres), a subsidiary of UK based, Ceres Power Holdings plc.

Thermax shares surged 3.31% to trade at ₹4,618.10 on the NSE

Sensex climbed 1009.97 pts or 1.24 % to trade at 82,533.13 as at 2.23 pm, Nifty 50 rose 337.65 pts or 1.36% to 25,256.10.

Som Distilleries and Breweries has launched “Woodpecker Premium Beer”.

SDBL shares were up 1.98% on the NSE, trading at ₹121.40

Sarveshwar Foods expands its product portfolio with rice-based offerings

Shares tanked 5.04% to trade at ₹10.55 on the NSE

Sterlite Technologies showcased its industry-leading 288 fibre Microcable with 180-micron fibre at Connected Britain 2024. 

Shares were up 2.02% on the NSE at ₹131.08

Granules India informed the completion of the USFDA’s inspection at Gagillapur FD facility, which concluded with six observations. 

Stock plummets 15.55% on the NSE, trading at ₹571.45

Vedanta plans to step up nickel and nickel sulphate production and tap rising demand for EV battery materials in countries in northeast Asia, the company said on Thursday.

“Vedanta Nico plans to expand its capacity for nickel and nickel sulphate production going forward,” the company said in an emailed statement to Reuters, referring to its business unit.

Vedanta shares rose 2.65% on the NSE, trading at ₹437.10

Ramco Cements said the company’s appeals before CESTAT on “disallowance of CENVAT Credit on Outward Freight” for the disputed value of ₹20.75 crore was allowed and the matter has been remanded back to the Adjudicating Authority.

Shares trade flat on the NSE at ₹839.1

Gravita Netherlands BV (GNVB), a subsidiary of Gravita India, has signed a Memorandum of Understanding (MOU) to acquire a Waste Tyre Recycling plant in Romania with a capacity of 17,000 MTPA. This will be Gravita’s first recycling facility in Europe. The acquisition will be executed through a Special Purpose Vehicle (SPV) in Romania, with GNVB holding 80% equity and management control, while the remaining equity will be owned by Romanian partners. The total investment for this transaction is approximately INR 40 Cr, with GNVB contributing INR 32 Cr, subject to due diligence. The acquisition aligns with GNVB’s goal of expanding its recycling business across Europe, enhancing market presence, customer base, and competitiveness. The company already operates similar facilities in Senegal, Togo, Ghana, and Tanzania, supporting its diversification and global expansion strategy.

Company announced an order win worth INR 200 Cr from the Municipal Corporation of Panvel, located in Maharashtra for 5 Years. As part of this project, Company has been appointed as the Technology Partner for the Panvel Safe City initiative. This landmark project will involve the installation of advanced surveillance and smart city technologies, transforming the city’s safety and security infrastructure. The scope of the project includes the establishment of Data Centers, a state-of-the-art Control Command Center, and Video Analytics capabilities to enable real-time monitoring and faster response times. Additionally, cutting-edge AI-powered technologies such as Facial Recognition systems, an IP-based Public Announcement system, Automatic Number Plate Recognition (ANPR), and an e-Challan mechanism will be integrated, providing a robust framework for crime prevention, with a special focus on enhancing security measures for women.

Company has won the project to setup India’s first Green Hydrogen Valley project in Pune. Gensol – Matrix will set up Green Hydrogen production plant on Build Own and Operate (BOO) basis to supply Green Hydrogen to Specialty Chemical sector with the firm offtake for 20 years.

BoD has approved the issuance of 7L warrants and 6.9L equity shares at INR 576 each, aggregating to INR 80 Cr. Warrants are subscribed by the Promoter and and Equity shares are subscribed by Sandeep Singh, Rakesh Laroia, Pooja Kedia, Amit Agarwal, Finavenue Growth Fund and Vikasa India EIF I Fund.

Viney Equity Market bought 4.3L shares at INR 300/share, aggregating to INR 12.8 Cr. Nav Capital Emerging Star Fund bought 2L shares at INR 301/share, aggregating to INR 6 Cr. Ankush Kedia bought 1.5L shares at INR 285/share, aggregating to INR 4.3 Cr.

Jain Irrigation Systems Ltd. and the Sher-e-Kashmir University of Agricultural Sciences and Technology (SKUAST-Kashmir) have entered into a Memorandum of Understanding (MoU) to offer smart, technology-driven solutions to the region’s farmers. 

Jain Irrigation shares trade flat on the BSE at ₹69.53

Minda Corporation board has approved proposal for raising funds by way of further issuance of securities through public and/or private offerings, including preferential issue, qualified institutions placement, further public offer or any of the permissible modes for an aggregate amount not exceeding ₹1000 crore.

Stock rose 1.56% on the NSE, trading at ₹539.35.

Urja Bharat Pte Ltd (UBPL), a 50:50 Special Purpose Vehicle (SPV) formed by a wholly-owned subsidiary of Indian Oil Corporation Ltd and Bharat Petro Resources Ltd, has been awarded a Production Concession by the Supreme Council for Financial and Economic Affairs (SCFEA), Abu Dhabi.

Indian Oil Corporation shares rise 1.27% on the NSE, trading at ₹171.89

Raymond Ltd has approved investment of up to ₹50 crore in the form of Redeemable Preference Shares in one or more tranches in Ten X Realty Ltd (TXRL), a step-down wholly-owned subsidiary of the company. 

Raymond shares traded at ₹1,847.05 on the NSE, lower by 3.56%

Top gainers: Bajaj Auto (2.62%), Shriram Finance (2.28%), Hero Motocorp (2.10%), Wipro (1.67%), Kotak (1.50%)

Top losers: Nestle India (-0.85%), ITC (-0.66%), Tata Motors (-0.58%), Divi’s Lab (-0.53%), TCS (-0.51%)

Of 3,907 stocks traded on the BSE at 12 noon on September 12, 2024, 2,125 advanced against 1,638 stocks that declined, and 144 remained unchanged. While 225 stocks recorded a 52-week high, 34 hit a 52-week low. A total of 256 stocks traded in the upper circuit, and 212 in the lower circuit.

Copper prices have been stable and range-bound over the last one week. The copper futures contract on the Multi Commodity Exchange (MCX) has been oscillating between ₹778 and ₹797 per kg in the past week. It is currently poised near the upper end of the range at ₹796 per kg. Read more

Mahanagar Telephone Nigam Ltd (MTNL) and NBCC (India) Ltd have entered into an MoU to develop a land parcel of MTNL measuring approximately 13.88 acres located on Pankha Road-l Janakpuri, New Delhi.

The Mahanagar Telephone Nigam stock hits upper circuit to trade at ₹56.51 on the NSE.

NBCC shares were up 2.62% on the NSE trading at ₹180.32.

Swastika Investmart has announced its first stock split. September 25 has been fixed as the ‘record date’ for the same. Each equity share having a face value of Rs 10 will be divided into five equity shares with a face value of Rs 2

Bank Nifty index is getting good support around 50,950. But at the same time, the index is not getting strong buyers to take it above 51,400 decisively. The index has been in a range of 50,950 and 51,420 over the last couple of days. Within this range, it is currently trading at 51,150, up 0.28 per cent. The advances/declines ratio is at 9:3.

WABAG (3.08%), Bajaj Auto (3.01%), Shoppers Stop (2.95%), Shriram Finance (1.85%), IndiGo (1.22%), Glenmark (1.16%)

Nifty 50 has risen back above 25,000. Need to see if it getting a strong follow-through rise from here or not. Broadly Nifty has been oscillating between 24,750 and 25,200 over the last few days. It is currently trading at 25,038, up 0.48 per cent. The advances/declines ratio is at 42:8. This is positive. Read more

The rupee witnessed range-bound trade in the morning session on Thursday and appreciated by 2 paise to 83.97 against the US dollar, amid a positive trend in domestic equities and foreign fund inflows. Read more

Equity benchmark indices Sensex and Nifty rebounded in early trade on Thursday tracking a rally in global markets and foreign fund inflows. The 30-share BSE Sensex jumped 428.83 points to 81,951.99 in early trade. The NSE Nifty climbed 154.1 points to 25,072.55.

Among the 30 Sensex firms, Tata Steel, Adani Ports, Bharti Airtel, Tech Mahindra, Kotak Mahindra Bank and State Bank of India were the biggest gainers. Read more

AGS Transact Technologies Ltd has implemented and commenced managing the Prepaid Card Platform for ‘XtraPower’, the fuel and fleet management program of ​Indian Oil Corporation Limited ​(IOCL).

​AGS Transact Technologies ​stock rose 1.03% on the NSE, trading at ₹104.58

Indian Oil Corporation stock rose 1.14% on the NSE, trading at ₹171.68

Cressanda Railway Solutions Ltd has secured contracts from the Directorate of Tourism, Maharashtra, and the Bureau of Indian Standards for the installation of external wraps on 16 express trains and 1 express train, respectively. 

Shares rose 4.94% on the BSE, trading at ₹14.03

Follow Tata Motors share price movements live here

Tembo Global Industries Ltd has announced a partnership with a leading European company to establish an arms and ammunition manufacturing facility in India.

Shares hit upper circuit on the NSE at ₹406.70, higher by 5%.

Ola Electric Mobility Ltd informed the exchange about an incident of arson that took place yesterday at their brand store in Kalaburagi, Karnataka.

Ola shares trade flat on the NSE at ₹113.99

Exicom Tele-Systems has concluded the acquisition of Tritium group of companies’ assets and business in the US and Australia through the company’s wholly-owned subsidiary and step-down subsidiaries.

The Exicom Tele-Systems stock surges 3.31% on the NSE, trading at ₹361.70

Race Eco Chain has incorporated a joint venture in the name of ‘GANESHA RECYCLING CHAIN PRIVATE LIMITED’ with GANESHA ECOSPHERE LTD for setting up washing plants for producing the Pet flakes. 

Shares trade flat on the NSE at ₹424.60

Resco Global Wind Services Pvt. Ltd., an EPC projects subsidiary of Inox Wind Ltd, has completed a ₹350-crore equity raise from marquee investors and issued securities in lieu of the funds raised. 

Inox Wind shares were up 1.95% on the NSE, trading at ₹243.17

Affle (India) has been granted another patent in the US. This enhances the overall granted IP portfolio of the company. The patent subject area is “Computer implemented method for partner pixelling for user identification”. 

Shares rose 1.16% on the NSE, trading at ₹1,566.30

Top gainers: Tata Steel (2.15%), Shriram Finance (1.87%), Adani Ports (1.73%), Bharti Airtel (1.57%), Tech Mahindra (1.40%)

Top losers: Tata Motors (-0.86%), Asian Paints (-0.52%), Nestle India (-0.12%), M&M (-0.08%)

Crude oil futures traded higher on Thursday morning following supply disruptions due to hurricane Francine in the Gulf of Mexico. At 9.31 am on Thursday, November Brent oil futures were at $71.06, up by 0.64 per cent, and October crude oil futures on WTI (West Texas Intermediate) were at $67.69, up by 0.56 per cent. September crude oil futures were trading at ₹5691 on Multi Commodity Exchange (MCX) during the initial hour of trading on Thursday against the previous close of ₹5690, up by 0.02 per cent, and October futures were trading at ₹5662 against the previous close of ₹5658, up by 0.07 per cent. Read more

Jefferies on MGL: Maintain Buy on Company, raise target price at Rs 2120/Sh (Positive)

HSBC on Kalyan Jewel: Maintain Buy on Company, raise target price at Rs 810/Sh (Positive)

Jefferies on Chola Invest: Maintain Buy on Company, raise target price at Rs 1800/Sh (Positive)

HSBC on OLA: Maintain Buy on Company, raise target price at Rs 140/Sh (Positive)

Emkay on Indian Bank: Maintain Buy on Bank, target price at Rs 675/Sh (Positive)

MS on PNB Housing: Maintain Overweight on Company, raise target price at Rs 1500/Sh (Positive)

MS on BEL: Maintain Overweight on Company, target price at Rs 364/Sh (Positive)

Nomura on Dixon: Initiate Buy on Company, target price at Rs 15567/Sh (Positive)

Nomura on Kaynes: Initiate Buy on Company, target price at Rs 5969/Sh (Positive)

Investec on HPCL: Maintain Hold on Company, raise target price at Rs 400/Sh (Positive)

Emkay on HPCL: Maintain Buy on Company, target price at Rs 475/Sh (Positive)

Emkay on BPCL: Maintain Buy on Company, target price at Rs 405/Sh (Positive)

Emkay on ONGC: Maintain Buy on Company, target price at Rs 360/Sh (Positive)

Emkay on Oil India: Maintain Buy on Company, target price at Rs 700/Sh (Positive)

Antique on IEX: Maintain Buy on Company, raise target price at Rs 262/Sh (Positive)

GS on Adani Ports: Maintain Buy on Company, target price at Rs 1630/Sh (Positive)

CLSA on Insurance: PB Fintech indicated strong growth; momentum in health insurance sector continues (Positive)

CLSA on New EV Launch: JSW MG launched the Windsor EV at an introductory price of Rs 999k (Neutral) 

Investec on IOC: Maintain Sell on Company, raise target price at Rs 120/Sh (Positive)

Investec on BPCL: Maintain Sell on Company, raise target price at Rs 250/Sh (Positive)

Jefferies on Entero: Maintain Buy on Company, target price at Rs 1510/Sh (Neutral)

MS on Tata Steel: Maintain Underweight on Company, target price at Rs 135/Sh (Neutral)

CLSA on JSPL: Maintain Hold on Company, target price at Rs 940/Sh (Neutral)

Kotak on Nykaa: Downgrade to Sell on Company, cut target price at Rs 190/Sh (Negative)

S&P +1.1%; Nasdaq +2.2% rebounded from intraday lows led by Tech & Semicon shares

Nvidia was up 8% & AMD up 5%

US CPI inflation slowed to 2.5% vs est 2.6% (lowest since Feb’21)

GIFT Nifty up 100 pts at 25,075

US 10y at 3.67% as core CPI came slightly above estimates 

Brent Crude at 71; Dollar Index at 101.7

US PPI (WPI inflation) data today

1-SAIL/JSW STEEL/TISCO/JSPL

Govt imposed tariffs of between 12% and 30% on some steel products imported from China and Vietnam

2-HONASA

Sequoia, PE Funds to sell 8.1% stake in co via block deals

3-ROUTE MOBILE

Promoter of Route Mobile to sell 6.03% equity via OFS on September 12 & 13

4-GE T&D

Bagged two orders worth 55 Million Euros & 100 Million Euros

5-LEMON TREE

Signs License Agreement For 117 Room Hotel In Pune

6-GUJARAT FLURO

Incorporates subsidiary in Germany for Import and export, processing, distribution, marketing and storage of polymers and organic and inorganic compounds

7-PREMIER ENERGIES

Senior employees selling stocks

8-TATA STEEL

Signs £500 million Grant Funding Agreement with UK Government for £1.25 billion Green Steel project in Port Talbot

9-INTERGLOBE AVIATION

CEO Pieter Elbers Aims to become a global airline by 2030

10-KALYAN JEWELLERS

HSBC report, Buy Call, Target Raised To Rs 810 From 600

Est. India’s EMS industry market value of $25bn in FY23 could reach $135bn by FY30F

Thus, domestic value addition of 20% in mobiles can potentially rise to 35% by FY30F

Initiate Buy on Dixon Tech, TP Rs 15,567

Initiate Buy on Kaynes Tech, TP Rs 5,969

Ideal landscape for harnessing growing domestic market & export potential

NIFTY 50: SPOT SUPPORT AT 24800 BELOW THIS 24700, RESISTANCE AT 25000 ABOVE THIS 25100

BANKNIFTY: SPOT SUPPORT AT 50800 BELOW THIS 50500, RESISTANCE AT 51300 ABOVE THIS 51500

NIFTY FIN SERVICE: SPOT SUPPORT AT 23500 BELOW THIS 23400, RESISTANCE AT 23700 ABOVE THIS 23800\u0009

BSE SENSEX: SPOT SUPPORT AT 81300 BELOW THIS 81000, RESISTANCE AT 81800 ABOVE THIS 82000

Securities in Ban For Trade Date 12-SEP-2024:\u0009

1\u0009AARTIIND

2\u0009ABFRL

3\u0009BALRAMCHIN

4\u0009BANDHANBNK

5\u0009CHAMBLFERT

6\u0009HINDCOPPER

7\u0009RBLBANK

Nomura on EMS

Initiate Buy on Dixon Tech, TP Rs 15567

Initiate Buy on Kaynes Tech, TP Rs 5969

Tech boom to create new global leaders

Ideal landscape for harnessing growing domestic market & export potential

Est. India’s EMS industry market value of $25bn in FY23 could reach $135bn by FY30F

Thus, domestic value addition of 20% in mobiles can potentially rise to 35% by FY30F

Samvardhana Motherson may also benefit from addressing component ecosystem

MS On PNB Hsg Fin

Overweight Call, Target Raised To Rs 1,500 From 1,025

After Balancesheet Repair & Franchise Rebuilding, Assess That Co Can Deliver Loan Growth

See Re-rating Up To 2.5x FY27 P/B Over 12-18 Months As Loan Growth, RoA & RoE Expand

Following A Sharp Rally, Profit Taking, Stock Supply & Rate Cuts Could Be Headwinds

But See Profit Taking, Stock Supply & Rate Cuts As Transient

Focus More On Structural Re-rating

Jefferies on MGL

Buy Call, Target Raised To Rs 2,120

Volume Growth Outlook Is Improving On Accelerating RO Additions & Healthy I/C Vol Growth

Falling APM Gas Allocation Is A Structural Headwind For CGDs

Co’s Margin Defense Is Stronger Compared To Peers On Lower Reliance On Expensive Spot LNG

Raise Volume Growth Estimate For FY25; Preferred CGD Pick

Jefferies on Chola Invst

Buy Call, Target Raised To Rs 1,800

See Loan Growth Holding Up At 27% In FY25 Despite Softer Trends In Select Auto Segments

See Multiple Tailwinds To NIMs

With 43% Of Borrowings Linked To T-Bills, Gains From Easing Rates Should Be More Upfront Vs Peers

As Operational Leverage Unfolds, New Biz RoA Can Rise 100 bps Lifting Group RoA By 22 bps

EPS Should Grow At 29% CAGR In FY24-27

HSBC on Kalyan Jewellers

Buy Call, Target Raised To Rs 810 From Rs 600

The Stock Has Risen 8x In Past 2 Yrs & Think It Is Still Midway Into Its Value Creation Journey

Capital Light Expansion Continues At Pace

Continued Exponential Growth Will Likely Prevent Any Multiple De-rating

See Several Long-range Catalysts & Titan’s Journey As A Useful Guide

HSBC on Ola Electric

Buy Call, Target Rs 140

Recent Market Share Loss Is Worrying To Us

Recent Market Share Loss Could Be Due To The Ramp-Up Of Low Cost Variants From Competition

If Current Mkt Share Trend Sustains, It Would Mean 15-20% Downside Risk To Vol Est For FY25/26

MS on BEL

Overweight Call, Target Rs 364

Co Has Secured An Order Worth Rs 850 Cr From Cochin Shipyard

BEL Has Also Secured Orders Worth Rs 300 Cr For Navigational Complex Systems

Total Order Inflows For BEL In FY25 YTD Stand At Rs 7,070 Cr (28% Of FY25 Guidance)

MS on Tata Steel

Underweight Call, Target Rs 135

Believe Signing Of £500 m Grant Funding Agreement With UK Govt Is A Positive Development

There Is Limited Clarity On Renewed Discussions With The UK Government

Await Clarity On Whether There Is Any Additional Financial Support For Affected Employees

No Additional Project Cost Should Be Viewed As Incrementally Positive

Antique on IEX

Buy Call, Target Raised To Rs 262 From 219

Co’s Double-Digit Volume Increase Has Continued In August’24 And YTD

Volume Growth Is Supported By Softness In Exchange Prices With DAM Market Price

Raised EPS By 5%/ 6%/ 7% For FY25/26/27 & Multiples To 45x From 40x

Coupling Risk Could Fade In Time To Come Given Practical Difficulties In Its Implementation

No Major Benefits Seen So Far

Before Coupling Risks Emerged, IEX’s Peak PER Valuation Was +50x

Indian shares are set to open higher on Thursday on expectations of a rise in foreign inflows into domestic equities after US inflation data firmed bets of a 25 basis point Federal Reserve rate cut.

The GIFT Nifty was at 25,076 points, as of 08:20 a.m. IST, indicating the NSE Nifty 50 will open above its previous close of 24,918.45.

The benchmark Nifty 50 lost about 0.5- per cent in the previous session, on profit booking ahead of the US inflation data, which was released after Indian market hours. Read more

GIFT Nifty +155 pts (25100) from last trade 24945 , 

Nikkei +1090 pts , 

Hangseng +69 pts , 

Now @6.53am . 

Dow +124.75 pts ,Nsdq +369.65 pts, S&P 

+58.61 pts , Bovespa +357 pts , Ftse -12 pts , Dax +64 pts , Cac -10 pts , Crude @ $67.31 brl (+0.00), Brent @ $70.61 brl (+0.00) , Gold @ 2540.40 (-2.00), Silver $29.03 (+0.10), Euro @ $1.1011, JPY @ $142.57, INR @ 83.995

🔹US GOVT. 10-YR YIELD : 3.67%

Today’s Corporate Action, 12 Sept Ex Date :

ACCELERATE\u0009

Bonus issue 3:5\u0009 

ARROWGREEN\u0009

Final Dividend - Rs. - 2.0000\u0009 

BENGALASM\u0009

Final Dividend - Rs. - 40.0000\u0009 

BHARATRAS\u0009

Final Dividend - Rs. - 1.5000\u0009 

ELDEHSG\u0009

Final Dividend - Rs. - 8.0000\u0009 

EXCELINDUS\u0009

Final Dividend - Rs. - 5.5000\u0009 

GARFIBRES\u0009

Final Dividend - Rs. - 3.0000\u0009 

GULPOLY\u0009

Final Dividend - Rs. - 0.3000\u0009 

HALDYNGL\u0009

Final Dividend - Rs. - 0.7000\u0009 

INDPRUD\u0009

Final Dividend - Rs. - 90.0000\u0009 

MALLCOM\u0009

Final Dividend - Rs. - 3.0000\u0009 

MYSORPETRO\u0009

Final Dividend - Rs. - 2.5000\u0009 

NIRLON\u0009

Final Dividend - Rs. - 11.0000\u0009 

PATELSAI\u0009

Final Dividend - Rs. - 3.0000\u0009 

SICAGEN\u0009

Final Dividend - Rs. - 0.6000\u0009 

SJVN\u0009

Final Dividend - Rs. - 0.6500\u0009 

SKIPPER\u0009

Dividend - Rs. - 0.1000\u0009 

SPIC\u0009

Dividend - Rs. - 1.5000\u0009 

SRHHYPOLTD\u0009

Final Dividend - Rs. - 3.0000\u0009 

VBL\u0009

Stock Split From Rs.5/- to Rs.2/-\u0009 

VSTTILLERS\u0009

Final Dividend - Rs. - 20.0000\u0009 

WEPSOLN\u0009

Final Dividend - Rs. - 0.5000\u0009 

Today’s Key Results/Board Meetings, 12-Sep-24 :

\u0009 \u0009 \u0009 

BAJAJHLDNG\u0009

Interim Dividend\u0009 \u0009 

HATSUN\u0009

General\u0009 \u0009 

INTERARCH\u0009

Quarterly Results\u0009 \u0009 

MAHSCOOTER\u0009

Interim Dividend\u0009 \u0009 

SEC. IN F&O BAN FOR, 12 SEPT, 2024 :

1.\u0009AARTIIND 2. \u0009ABFRL 3. \u0009BALRAMCHIN 4. BANDHANBNK 5. CHAMBLFERT 6. HINDCOPPER 7. \u0009RBLBANK

ADDITION : AARTIIND

DELETION : BIOCON

India’s infra/capex related activity inched up in July after 3 months of contraction due to election related uncertainties. New orders continues to remain strong in July and August, underpinning our hopes of a revival in topline growth numbers from Q2. However, slower than normal govt spending in election years keeps us watchful about our 7.2% FY25 projection. Globally, US CPI softened cementing 25bps cut next week in line with our expectations. Today’s key event remains in the form of ECB policy and its projections. Turning to Geopolitics, we continue to see developments in Bangladesh concerning for SAARC and QUAD specially after they have appealed for a fresh USD 5bn from intl lenders for, on paper, ‘replenishing fx reserves’.

US consumer inflation slows to lowest rate since February 2021

Headline US CPI slowed to 2.5% from 2.9% in July (+0.2% MoM in Aug). Core CPI came in at 3.2%, in line with forecasts and equaling July’s pace (+0.3% in Aug). In our view, 25bps Fed rate cut next week is in line , but overly bullish market expectations raise concerns. Risks may arise if the Fed signals a “wait and watch” approach or hawkish projections for 2025, along with potential hawkishness from the BoJ

India government renewed EV subsidy schemes

The new scheme, with an outlay of Rs 10,900 crore for two years, will provide subsidy support to a wide range of EVs, including two-wheelers, three-wheelers, buses, trucks, and ambulances. But the scheme notably omits electric cars, which were previously covered under the FAME programme.

India to impose up to 30% tariffs on some steel imports from China, Vietnam

India will impose tariffs of 12% to 30% on certain steel products from China and Vietnam to protect local industry. The tariffs, targeting welded stainless steel pipes and tubes, will be in place for five years. This move follows strained relations between India and China since their 2020 border clash.

Centre to get Semicon 2.0 policy in place in next 3-4 months: Vaishnaw

The government will launch the second phase of India’s semiconductor manufacturing policy in the next three to four months as the first stage is “practically complete”, electronics and IT minister Ashwini Vaishnaw said.The minister also announced that UP would soon become the fourth state in the country to have a semiconductor facility.

Samsung Elec plans global job cuts of up to 30% in some divisions

Samsung has instructed subsidiaries worldwide to reduce sales and marketing staff by about 15% and the administrative staff by up to 30%, two of the sources said.The plan will be implemented by the end of this year and would impact jobs across the Americas, Europe, Asia and Africa, one person said.

BOJ policymaker signals readiness to raise rates if inflation on track

The Bank of Japan will continue to raise interest rates if inflation moves in line with its forecast, policymaker Junko Nakagawa said, signalling that last month’s market rout has not derailed the bank’s plan to hike borrowing costs steadily.Nakagawa’s remarks follow those by another member of the BOJ’s policy board, Hajime Takata, who said last week the BOJ must stay on course to raise rates 

Japan’s August wholesale inflation slows in August

Japan’s producer price index rose 2.5% year-on-year in August, less than the expected 2.8% and the 3% reported in the previous month. The data is among the key indicators closely watched by the Bank of Japan.

Asian market

Asia markets opened higher on Today, tracking gains on Wall Street after a volatile session spurred by inflation data. Gains in technology helped Wall Street shrug off early losses and end higher on Wednesday, even as a stronger reading on core consumer inflation dented expectations of a bumper interest rate cut by the Fed. 

India is also poised to release its August consumer price index today.

Brent: 70.86, DXY: 101.8, USD10Y: 3.66%, Gift Nifty : +0.42%

NBCC: Company collaborates with MTNL to develop 13.88 acres of land parcel in New Delhi. The project is valued at ₹1,600 cr (Positive) 

GE T&D: Company bags order worth €55 m from Grid Solutions Middle East FZE, Dubai (Positive) 

IndiGo: Company aims to be a global airline player by 2030, says CEO Pieter Elbers (Positive) 

MapmyIndia: Company partners with Zoom car, the collaboration enables users to book a Zoom car while getting their trips planned with the Mappls App (Positive) 

Gujarat Fluoro: Company subsidiary has incorporated its wholly-owned subsidiary co namely GFCL EV products GMBH in HAMBURG, Germany (Positive) 

Indian Energy Exchange: IGX share in overall gas consumption expected to increase to 4-5% by 2030 (Positive) 

Infrastructure stocks: Rural Development Ministry approves construction of roads in three states under various central schemes. (Positive) 

NHPC: Cabinet approves Rs 12,461cr for hydro-projects (Positive) 

Wipro: Company builds AI-enabled data strategy for JFK International Air Terminal (Positive) 

Tata Steel: Company signs £500 million grant funding agreement with UK government for £1.25 billion green steel project in Port Talbot, electric ARC furnace is expected to be operational within three years. (Positive) 

IOC/BPCL: Company’s arm and Indian Oil get production concession in Abu Dhabi for 6,162 square km area. (Positive) 

Medicamen Biotech: Company received the final approval from the inspection department, division of production & distribution control, national organization for medicines, Greece for Bhiwadi formulation facility. (Positive) 

Brigade Enterprises: Company launches its premium flexible workspace solution BuzzWorks in Hyderabad (Positive) 

Engineers India: Current order book at 113.5b rupees, Company says expects to complete 1.5 mtpa mongolia refinery by march 2026. (Positive) 

Lupin: Company signed share subscription & shareholders’ agreement with Sunsure Solarpark seventeen, Company to make equity investment (Positive) 

Nazara Technologies: Company acquisition of 15.86% stake in getstan technologies by unit, deal for consideration of up to Rs 182.6 million. (Positive) 

M&M: Embraer and Mahindra announce collaboration on the C-390 Millennium Medium Transport Aircraft in India (Positive) 

Lemon Tree Hotels: Company signs a new property in Pune, Company says the property, which shall be managed by carnation hotels private limited, a wholly-owned subsidiary of Company is expected to open in FY 2026. (Positive) 

Bajaj Finance/Finserve: Bajaj Housing Finance IPO gets bids worth over ₹3 lakh crore for a ₹6,560 crore issue (Positive) 

Vishwaraj Sugar: Company approved floor price for issue, being Rs 17.51 per share ,Company approves QIP issue amounting up to Rs 990 million. (Neutral) 

Castrol India: Company introduces Microfiber Cloth and Shiner Sponge to the existing range of products (Neutral) 

Adani Ports: Company has signed a concession agreement with DPA to develop Multipurpose Berth at Deendayal Port, Kandla, Gujarat. (Neutral) 

HPCL: Company appoints K Vinod as CFO effective from 11th Sep, 2024 (Neutral) 

Route Mobile: Founder to sell 6.03% stake via OFS Sept 12-13; floor price at Rs 1,635 per share (Neutral) 

Honasa Consumers: Company’s 10.8% Equity Worth Rs 1827.0 Cr via block deal At Rs 480/sh floor price (Neutral) 

State Bank of India: Bank KEB Hana Indonesia & Bank SBI Indonesia (BSBII) and SBI signs shareholder agreement. Under the agreement, BSBII will issue preference shares to PT Bank KEB Hana, Indonesia (Neutral)

Seller: Proximus Opal (Promoter) 

OFS size: 38.0 lakh shares (6.03 percent of Equity) 

Floor Price: Rs 1635/Sh (Approx 0.2 percent discount at Last Closing 1638.9) 

Total OFS size in Rupees: Rs 622.8 crore (At floor price) 

For Non-Retail Investors: 12th September 2024 

For Retail Investors: 13th September 2024 

Retail Reservation: 10% 

Mutual Fund and Insurance companies’ Reservation: 25%

Kroger Company (Pre market) (Sector- Retail)

Adobe Inc. (Post market) (Sector- Technology)

* ABFRL

* AARTI IND

* BALRAMCHIN

* BANDHANBNK

* CHAMBLFERT

* HINDCOPPER

* RBLBANK

17.30 INDIA Inflation y/y (Expected: 3.55% versus Previous: 3.54%)

17.30 INDIA industrial Production y/y (Expected: 4.7% versus Previous: 4.2%)

17.45 EURO ECB Monetary Policy (Expected: 3.65% versus Previous: 4.25%)

18.00 U.S. Unemployment Claims (Expected: 229k versus Previous: 227K)

18.00 U.S. PPI m/m (Expected: 0.1% versus Previous: 0.1%)

18.15 EURO ECB Press Conference

Monarch Networth Capital Ltd

Bonus issue 1:1

Previous day Closing Price – Rs. 874.60

Ex Bonus 13 Sept 2024 (Tomorrow)

Last date Trade for Before Bonus Today

Ex - Stock Split 13 Sept 2024 (Tomorrow)\u0009

Last day trade for before split Today\u0009

\u0009

Krishna Institute Of Medical Sciences Ltd\u0009

Stock Split From Rs.10/- to Rs.2/-\u0009

Previous day Closing Price – Rs. 2663.4\u0009

\u0009

Onesource Ideas Venture Ltd\u0009

Stock Split From Rs.10/- to Rs.1/-\u0009

Previous day Closing Price – Rs. 94.34\u0009

\u0009

Sportking India Ltd\u0009

Stock Split From Rs.10/- to Rs.1/-\u0009

Previous day Closing Price – Rs. 1503.

Ex-Dividend 13 Sept 2024 (Tomorrow)\u0009

Last date for Cum-Dividend Today\u0009

\u0009

Accel Ltd\u0009

Dividend Per Share Rs.0.3\u0009

Previous day Closing Price – Rs. 29.35\u0009

\u0009

Ami Organics Ltd\u0009

Dividend Per Share Rs.3\u0009

Previous day Closing Price – Rs. 1455.05\u0009

\u0009

Amines & Plasticizers Ltd.\u0009

Dividend Per Share Rs.0.5\u0009

Previous day Closing Price – Rs. 315.65\u0009

\u0009

Amrutanjan Health Care Ltd.\u0009

Dividend Per Share Rs.2.6\u0009

Previous day Closing Price – Rs. 788.5\u0009

\u0009

Aries Agro Ltd.\u0009

Dividend Per Share Rs.1\u0009

Previous day Closing Price – Rs. 279.25\u0009

\u0009

Arihant Superstructures Limited\u0009

Dividend Per Share Rs.1.2\u0009

Previous day Closing Price – Rs. 332.75\u0009

\u0009

ASI Industries Ltd\u0009

Dividend Per Share Rs.0.35\u0009

Previous day Closing Price – Rs. 41.85\u0009

\u0009

Asian Star Co.Ltd.\u0009

Dividend Per Share Rs.1.5\u0009

Previous day Closing Price – Rs. 864.1\u0009

\u0009

Bannari Amman Sugars Ltd.\u0009

Dividend Per Share Rs.12.5\u0009

Previous day Closing Price – Rs. 3380.8\u0009

\u0009

BEML Ltd.\u0009

Dividend Per Share Rs.15.5\u0009

Previous day Closing Price – Rs. 3892.05\u0009

\u0009

Bhagwati Autocast Ltd.\u0009

Dividend Per Share Rs.2\u0009

Previous day Closing Price – Rs. 466.1\u0009

\u0009

Black Rose Industries Ltd.\u0009

Special Dividend Per Share Rs.0.1\u0009

Dividend Per Share Rs.0.55\u0009

Previous day Closing Price – Rs. 137.45\u0009

\u0009

CCL Products (India) Ltd.\u0009

Dividend Per Share Rs.2\u0009

Previous day Closing Price – Rs. 748.35\u0009

\u0009

Ceejay Finance Ltd.\u0009

Dividend Per Share Rs.1.2\u0009

Previous day Closing Price – Rs. 244.25\u0009

\u0009

Ceinsys Tech Ltd\u0009

Dividend Per Share Rs.2.5\u0009

Previous day Closing Price – Rs. 715.2\u0009

\u0009

Chemfab Alkalis Ltd\u0009

Dividend Per Share Rs.1.25\u0009

Previous day Closing Price – Rs. 904.6\u0009

\u0009

Comfort Commotrade Ltd.\u0009

Dividend Per Share Rs.0.5\u0009

Previous day Closing Price – Rs. 35.98\u0009

\u0009

Cords Cable Industries Ltd.\u0009

Dividend Per Share Rs.1\u0009

Previous day Closing Price – Rs. 204\u0009

\u0009

CSL Finance Ltd\u0009

Dividend Per Share Rs.2.5\u0009

Previous day Closing Price – Rs. 450.4\u0009

\u0009

Prataap Snacks Ltd\u0009

Dividend Per Share Rs.2\u0009

Previous day Closing Price – Rs. 813.85\u0009

\u0009

Doms Industries Ltd\u0009

Dividend Per Share Rs.2.5\u0009

Previous day Closing Price – Rs. 2750.15\u0009

\u0009

Emmbi Industries Ltd\u0009

Dividend Per Share Rs.0.3\u0009

Previous day Closing Price – Rs. 148.7\u0009

\u0009

Empire Industries Ltd.\u0009

Dividend Per Share Rs.25\u0009

Previous day Closing Price – Rs. 1169.6\u0009

\u0009

Foods & Inns Ltd.\u0009

Dividend Per Share Rs.0.3\u0009

Previous day Closing Price – Rs. 136.1\u0009

\u0009

Gujarat Industries Power Co.Ltd.\u0009

Dividend Per Share Rs.3.95\u0009

Previous day Closing Price – Rs. 225.3\u0009

\u0009

Glenmark Pharmaceuticals Ltd.\u0009

Dividend Per Share Rs.2.5\u0009

Previous day Closing Price – Rs. 1727.75\u0009

\u0009

Garden Reach Shipbuilders & Engineers Ltd\u0009

Dividend Per Share Rs.1.44\u0009

Previous day Closing Price – Rs. 1756.5\u0009

\u0009

Halder Venture Ltd\u0009

Dividend Per Share Rs.1\u0009

Previous day Closing Price – Rs. 896.5\u0009

\u0009

Hariom Pipe Industries Ltd\u0009

Dividend Per Share Rs.0.6\u0009

Previous day Closing Price – Rs. 768.75\u0009

\u0009

HBL Power Systems Ltd.\u0009

Dividend Per Share Rs.0.5\u0009

Previous day Closing Price – Rs. 601.1\u0009

\u0009

Hi-Tech Pipes Ltd\u0009

Dividend Per Share Rs.0.025\u0009

Previous day Closing Price – Rs. 192.65\u0009

\u0009

HP Adhesives Ltd\u0009

Dividend Per Share Rs.0.3\u0009

Previous day Closing Price – Rs. 97.66\u0009

\u0009

Housing & Urban Development Corporation Ltd\u0009

Dividend Per Share Rs.2.65\u0009

Previous day Closing Price – Rs. 246\u0009

\u0009

Indraprastha Gas Ltd.\u0009

Dividend Per Share Rs.5\u0009

Previous day Closing Price – Rs. 527.55\u0009

\u0009

Indraprastha Medical Corp.Ltd.\u0009

Dividend Per Share Rs.4.5\u0009

Previous day Closing Price – Rs. 458.25\u0009

\u0009

Jagran Prakashan Ltd.\u0009

Dividend Per Share Rs.5\u0009

Previous day Closing Price – Rs. 105.34\u0009

\u0009

Kcp Sugar & Industries Corporation Ltd.\u0009

Dividend Per Share Rs.0.2\u0009

Previous day Closing Price – Rs. 56.01\u0009

\u0009

Kirloskar Ferrous Industries Ltd.\u0009

Dividend Per Share Rs.2.5\u0009

Previous day Closing Price – Rs. 680.45\u0009

\u0009

Kilburn Engineering Ltd.\u0009

Dividend Per Share Rs.2\u0009

Previous day Closing Price – Rs. 430.75\u0009

\u0009

Krsnaa Diagnostics Ltd\u0009

Dividend Per Share Rs.2.5\u0009

Previous day Closing Price – Rs. 747.05\u0009

\u0009

Landmark Cars Ltd\u0009

Dividend Per Share Rs.1.5\u0009

Previous day Closing Price – Rs. 588.75\u0009

\u0009

Lincoln Pharmaceuticals Ltd.\u0009

Dividend Per Share Rs.1.8\u0009

Previous day Closing Price – Rs. 790.95\u0009

\u0009

Manaksia Aluminium Company Ltd\u0009

Dividend Per Share Rs.0.07\u0009

Previous day Closing Price – Rs. 30.4\u0009

\u0009

Manaksia Coated Metals & Industries Ltd\u0009

Dividend Per Share Rs.0.05\u0009

Previous day Closing Price – Rs. 69\u0009

\u0009

Meghna Infracon Infrastructure Ltd\u0009

Dividend Per Share Rs.0.1\u0009

Previous day Closing Price – Rs. 548.05\u0009

\u0009

M.K. Exim (India) Ltd\u0009

Dividend Per Share Rs.0.5\u0009

Previous day Closing Price – Rs. 95.68\u0009

\u0009

Monte Carlo Fashions Ltd\u0009

Dividend Per Share Rs.20\u0009

Previous day Closing Price – Rs. 733.15\u0009

\u0009

Morarka Finance Ltd.\u0009

Dividend Per Share Rs.6\u0009

Previous day Closing Price – Rs. 185.2\u0009

\u0009

MPIL Corporation Ltd.\u0009

Dividend Per Share Rs.0.9\u0009

Previous day Closing Price – Rs. 559.15\u0009

\u0009

Murudeshwar Ceramics Ltd.\u0009

Dividend Per Share Rs.0.5\u0009

Previous day Closing Price – Rs. 61.81\u0009

\u0009

NCL Industries Ltd.\u0009

Dividend Per Share Rs.2.5\u0009

Previous day Closing Price – Rs. 220.95\u0009

\u0009

Paisalo Digital Ltd\u0009

Dividend Per Share Rs.0.1\u0009

Previous day Closing Price – Rs. 60.59\u0009

\u0009

Pitti Engineering Ltd\u0009

Dividend Per Share Rs.1.5\u0009

Previous day Closing Price – Rs. 1285.4\u0009

\u0009

PNB Gilts Ltd.\u0009

Dividend Per Share Rs.1\u0009

Previous day Closing Price – Rs. 120.85\u0009

\u0009

Poddar Pigments Ltd.\u0009

Dividend Per Share Rs.4\u0009

Previous day Closing Price – Rs. 407.85\u0009

\u0009

Polymechplast Machines Ltd.\u0009

Dividend Per Share Rs.1\u0009

Previous day Closing Price – Rs. 65.78\u0009

\u0009

Poojawestern Metaliks Ltd\u0009

Dividend Per Share Rs.1\u0009

Previous day Closing Price – Rs. 42.04\u0009

\u0009

Precision Wires India Ltd.\u0009

Dividend Per Share Rs.0.45\u0009

Previous day Closing Price – Rs. 196.75\u0009

\u0009

Prudent Corporate Advisory Services Ltd\u0009

Dividend Per Share Rs.2\u0009

Previous day Closing Price – Rs. 2353.35\u0009

\u0009

Remsons Industries Ltd.\u0009

Dividend Per Share Rs.1.5\u0009

Previous day Closing Price – Rs. 186.8\u0009

\u0009

Rubfila International Ltd.\u0009

Dividend Per Share Rs.1.2\u0009

Previous day Closing Price – Rs. 85.02\u0009

\u0009

Ruby Mills Ltd.\u0009

Dividend Per Share Rs.1.75\u0009

Previous day Closing Price – Rs. 307.35\u0009

\u0009

Rushil Decor Ltd.\u0009

Dividend Per Share Rs.0.1\u0009

Previous day Closing Price – Rs. 35.87\u0009

\u0009

S Chand And Company Ltd\u0009

Dividend Per Share Rs.3\u0009

Previous day Closing Price – Rs. 229.4\u0009

\u0009

Shaily Engineering Plastics Ltd.\u0009

Dividend Per Share Rs.1\u0009

Previous day Closing Price – Rs. 959.8\u0009

\u0009

Shilp Gravures Ltd.\u0009

Dividend Per Share Rs.2.1\u0009

Previous day Closing Price – Rs. 175.85\u0009

\u0009

Shri Jagdamba Polymers Ltd.\u0009

Dividend Per Share Rs.0.75\u0009

Previous day Closing Price – Rs. 877.25\u0009

\u0009

Skp Securities Ltd.\u0009

Dividend Per Share Rs.1.5\u0009

Previous day Closing Price – Rs. 163.5\u0009

\u0009

Ity Restaurants Ltd.\u0009

Dividend Per Share Rs.1\u0009

Previous day Closing Price – Rs. 174\u0009

\u0009

Stove Kraft Ltd\u0009

Dividend Per Share Rs.2.5\u0009

Previous day Closing Price – Rs. 836.85\u0009

\u0009

Superhouse Ltd.\u0009

Dividend Per Share Rs.0.8\u0009

Previous day Closing Price – Rs. 218.7\u0009

\u0009

Techno Electric & Engineering Company Ltd\u0009

Dividend Per Share Rs.7\u0009

Previous day Closing Price – Rs. 1621.9\u0009

\u0009

Transpek Industry Ltd.\u0009

Dividend Per Share Rs.14\u0009

Previous day Closing Price – Rs. 1701.65\u0009

\u0009

Vibrant Global Capital Ltd\u0009

Dividend Per Share Rs.0.75\u0009

Previous day Closing Price – Rs. 75.55\u0009

\u0009

Wsfx Global Pay Ltd\u0009

Dividend Per Share Rs.1\u0009

Previous day Closing Price – Rs. 118

NBCC collaborates with #MTNL to develop 13.88 acres of land parcel in #NewDelhi. The project is valued at ₹1,600 cr

#NewsFlash | Central Drugs Standard Control Organization (#CDSCO) on September 10 issued suspension orders to Entod Pharmaceuticals for PresVu 

- Entod Pharma’s permission to manufacture and market of PresVu have been suspended until further orders

AGS TRANSACT TECHNOLOGIES: CO IMPLEMENTS AND COMMENCES MANAGEMENT OF PREPAID CARD PLATFORM FOR INDIANOIL’S FLAGSHIP ‘XTRAPOWER’ FUEL & FLEET MANAGEMENT PROGRAM, WITH AN ORDER VALUE OF INR 58 CR OVER FIVE YEARS

LUPIN: CO SIGNED SHARE SUBSCRIPTION & SHAREHOLDERS AGREEMENT WITH SUNSURE SOLARPARK SEVENTEEN || CO TO MAKE EQUITY INVESTMENT IN SUNSURE SOLARPARK

LUPIN: CO SAYS DEAL FOR 105.5M RUPEES || CO SAYS UPTO 42.61% STAKE IN SUNSURE SOLARPARK TO BE ACQUIRED

ENGINEERS INDIA: CO EXEC SAYS CURRENT ORDER BOOK AT 113.5B RUPEES || CO EXEC SAYS EXPECTS TO COMPLETE 1.5 MTPA MONGOLIA REFINERY BY MARCH 2026

BRIGADE ENTERPRISES: BUZZWORKS FLEXIBLE WORKSPACES BY BRIGADE GROUP FORAYS INTO HYDERABAD || PREMIUM, FLEXIBLE AND MANAGED WORKSPACE SOLUTIONS LAUNCHED AT AURO ORBIT, HITEC CITY; BRIGADE AIMS TO EXPAND TO 1 MILLION SQ. FT. OF FLEXIBLE OFFICE SPACE OVER THE NEXT 2 YEARS

MEDICAMEN BIOTECH: CO RECEIVED THE FINAL APPROVAL (EU GMP CEIFICATION) TODAY, FROM THE INSPECTION DEPAMENT, DIVISION OF PRODUCTION & DISTRIBUTION CONTROL, NATIONAL ORGANISATION FOR MEDICINES, GREECE FOR BHIWADI FORMULATION FACILITY

#JustIn | Adani Ports & SEZ to develop a multipurpose berth (berth no. 13) at Gujarat’s Kandla Port. Berth No. 13 is 300m long and offers 5.7 MMT capacity annually. It is likely to be commissioned in FY27

TATA STEEL: UK BUSINESS MINISTER REYNOLDS SAYS SECURES IMPROVED DEAL FOR WORKERS WITH TATA STEEL IN PO TALBOT || SAYS WE ARE PLANNING A NEW UK-WIDE STEEL STRATEGY

TATA STEEL: UK BUSINESS MINISTER REYNOLDS SAYS DEAL WITH TATA STEEL INCLUDES IMPROVED REDUNDANCY TERMS FOR THE…

TATA STEEL: CO SAYS PLANS ARE PROGRESSING TO CLOSE BLAST FURNACE #4 BY END OF SEPTEMBER || PLANS PROGRESSING TO CLOSE WIDER HEAVY-END OPERATIONS AT PO TALBOT BY END OF SEPT

INDIAN ENERGY EXCHANGE: CO SAYS IGX SHARE IN OVERALL GAS CONSUMPTION EXPECTED TO INCREASE TO 4-5% BY 2030

ROUTE MOBILE: PROMOTER PROXIMUS OPAL PROPOSES TO SELL 6.03% STAKE OF CO || FLOOR PRICE FOR OFFER SHALL 1,635 RUPEES PER SHARE; SALE OF STAKE BY PROMOTER VIA OFFER FOR SALE

The outlook for Campus Activewear is bullish. The stock has surged over 7 per cent in the last couple of days, indicating that the upmove has gained momentum. The 3 per cent rise on Wednesday has taken the share price well above a key resistance level of ₹290. Read more

State-run ONGC on Wednesday said its subsidiary ONGC Videsh (OVL) along with Oil India (OIL) and Khanij Bidesh India (KABIL) have signed a memorandum of understanding (MoU) with UAE-based International Resources Holding to identify, acquire, and develop critical mineral projects worldwide, including in India. Read more

The Association of Portfolio Managers in India (APMI) has asked the market regulator to consider allowing PMS players to become investment managers to its “new asset class” that is currently in the works.

The growing unease in the market could be gauged from the fact that Nifty 50 has maintained its upward streak without a a 10 per cent decline for the last 13 years.

A significant increase in fiscal expenditure has facilitated India’s robust recovery, according to the latest DSP Mutual Fund’s Netra report, which provides an overview of market anomalies. The report emphasizes the need for the private corporate sector and households to lead in sustaining this growth momentum.