Stock Market| Share Market Updates - Find here all the updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for 16 November 2023.
- November 16, 2023 16:13
Market news: Rupee falls by 14 paise to 83.23 against US dollar
The rupee declined by 14 paise to settle at 83.23 (provisional) against the US dollar on Thursday due to foreign fund outflows and a firm greenback in the overseas markets.
Losses in crude oil prices, however, helped the rupee restrict the fall, forex dealers said.
At the interbank foreign exchange market, the rupee opened lower at 83.18 against the US currency. The local unit remained under pressure in the day trade moving in a range of 83.17 to 83.25. Read more.
- November 16, 2023 16:04
Stocks in news: Coromandel International Limited
Coromandel International Limited has unveiled its Coromandel Nanotechnology Center in Coimbatore, Tamil Nadu. The centre will support its efforts towards development of wide range of nano-enabled agro-inputs for plant nutrition and crop protection.
- November 16, 2023 15:42
Stocks in news: Cressanda Solutions
Cressanda Solutions has participated in the Train Communications Systems Conference organised on the topic “WiFi on Trains” in London. The participation in the conference is in furtherance of the Eastern Railway Agreement for provision of Concierge Services, the company said in its exchange filing.
- November 16, 2023 15:42
Stock market live updates: Electronics Mart India has reported the occurrence of a fire accident at its store in Hyderabad.
Electronics Mart India said the value of the stocks exposed to the actual amount of damage is approximately ₹2.28 crore. The salvage value is yet to be ascertained.
- November 16, 2023 15:35
Closing Bell: Sensex gains 307 pts, Nifty closes above 19,750; IT stocks shine
Benchmark equity indices ended with gains on Thursday as sentiments turned buoyant amid fresh foreign inflows and buying in IT counters.
Softer-than-expected US inflation data and easing bond yields have bought optimism in equities.
Rising for the second session in a row, the 30-share BSE Sensex climbed 306.55 points or 0.47 per cent to settle at 65,982.48. During the day, it jumped 682.44 points or 1 per cent to 66,358.37.
- November 16, 2023 15:26
Stock market live updates: Goa Carbon Limited has informed the exchange regarding ‘the resumption of normal production at the Company’s Paradeep Unit at Jagatsinghpur, Odisha.
The stock trades at ₹520 on the NSE, down by 0.55%.
- November 16, 2023 15:16
Stock market live updates: Major gainers of Nifty Pharma stocks
Dr Reddy’s (2.27%)
Natco Pharma (1.97%)
- November 16, 2023 15:06
Stock market live updates: Major gainers on the NSE at 3pm
Hero Motocorp (3.47%); Tech Mahindra (3.40%); TCS (3.37%); HCL Tech (3.15%); Infosys (3%)
Coal India (-1.18%); Tata Consumers (-0.80%); Axis Bank(-0.79%); Adani Enterprises (-0.38%); Cipla (-0.33%)
- November 16, 2023 14:44
Stock market live updates: AstraZeneca’s stock rises by 1.33% on the NSE, trading at ₹4,673.30.
AstraZeneca Pharma India Limited intends to exit the manufacturing site in Bangalore, in due course, as a part of AstraZeneca’s ongoing strategic review of its Global Manufacturing and Supply Network. x
- November 16, 2023 14:34
Stocks in focus: Jio Financial Services Limited
Jio Financial Services Limited informed the exchange that RBI has accorded its approval for the appointment of Isha Mukesh Ambani, Anshuman Thakur and Hitesh Kumar Sethia as Directors of the Company. The stock trades at ₹225.50 on the NSE, up by 0.60%.
- November 16, 2023 14:30
Stocks in news today: DroneAcharya Aerial Innovations
DroneAcharya Aerial Innovations Limited has been awarded DGCA Certified Drone Pilot Training Tender for Government officers of Karnataka valued at ₹96 lakh, by the Karnataka Forest Department. The stock rises by 1.03% on the BSE, trading at ₹181.
- November 16, 2023 14:21
Stocks to watch today: Sundram Fasteners
Sundram Fasteners has received an order passed by the Office of Deputy Commissioner, Large Tax Payers Unit, Chennai, imposing a fine under the provisions of TNVAT Act, 2006. The stock trades flat at ₹1,245 on the NSE.
- November 16, 2023 14:18
Stocks in news today: Bharti Airtel
Bharti Airtel has announced that it has over 2.2 million 5G customers in Gujarat. The company also announced that Airtel 5G Plus service is available across all the districts in the state within 12 months of the launch. The stock trades at ₹951 on the NSE, up by 0.11%.
- November 16, 2023 14:02
Stock market live updates: Dr. Reddy’s Laboratories has announced the roll-out of Nerivio in India.
Nerivio is an USFDA approved wearable therapy device for drug-free management of migraine. Dr Reddy’s stock rises by 2.67% on the NSE, trading at ₹5,564.70.
- November 16, 2023 13:59
Stocks in news today: Ujjivan Small Finance Bank
Ujjivan Small Finance Bank has approved the allotment of 3,64,321 equity shares of face value of ₹10 each fully paid-up, pursuant to exercise of stock options under the ESOP Scheme 2019 of the Bank. The stock declines by 1.53% on the NSE, trading at ₹57.80.
- November 16, 2023 13:46
Share Market Live Updates at 1.45 p.m.: Sensex jumps 447 points, Nifty hits 19,800 amid rebound in markets
During Thursday’s trading session, the Indian benchmark indices initially faltered in response to weaker Asian markets but swiftly rebounded, gaining momentum to shift into positive territory. By 1:35 p.m., the 30-share BSE Sensex surged by 447.96 points, reaching 66,123.89, while the Nifty climbed 124.55 points to touch 19,800. This resurgence was driven by optimism stemming from fresh foreign fund inflows, effectively offsetting the early losses.
Out of 2,447 stocks traded, 1,333 saw gains, 997 experienced declines, and 177 remained unchanged. Among these, 109 stocks hit upper circuit limits, while 45 touched lower circuit limits. Additionally, 168 stocks reached their 52-week highs, while only 6 reached their 52-week lows.
Coforge led the gainers among Nifty IT stocks with a surge of 5.15%, followed by Mphasis at 3.72%, TCS at 2.97%, Tech Mahindra at 2.66%, and Infosys at 2.52%.
- November 16, 2023 13:33
Nifty Today: Major gainers of Nifty IT stocks at this hour of trade
Tech Mahindra (2.66%)
- November 16, 2023 13:19
Share Market Live Updates: Ramkrishna Forgings rises 0.16% on NSE; issues ₹50 crore corporate guarantee for subsidiary
Ramkrishna Forgings stock is up by 0.16% on the NSE, trading at ₹712.05. The company had provided corporate guarantee upto an amount of ₹50 crore for RKFL Engineering Industry Private Limited (REIPL), wholly owned subsidiary company, to secure the credit facilities to be availed by REIPL.
- November 16, 2023 13:18
Share Market Live Updates: We believe the majority of rate hikes is behind us: Aakash Desai, CIO & Head, Private Credit at 360 ONE Asset
Bain Capital-backed 360 ONE Asset Management has received an overwhelming response to its private credit fund. In an interview with businessline, Aakash Desai, CIO & Head, Private Credit at 360 ONE Asset, throws some light on the industry.
- November 16, 2023 13:16
Share Market Live Updates: Wockhardt surges 13.12% on NSE post Q2 financial results, hits ₹317.65
Wockhardt stock jumps 13.12% on the NSE, trading at ₹317.65 after the company reported its financial results for the period ended September 30, 2023.
- November 16, 2023 13:10
Stock Market Live Updates: Intec Capital CFO Rajesh Sharma resigns, stock slides 3.03% on BSE
Intec Capital informed the exchange about the resignation of Rajesh Sharma from the position of Chief Financial Officer. The stock trades at ₹16 on the BSE, down by 3.03%.
- November 16, 2023 13:01
Stock Market Live Updates: Vedanta’s Malco Energy forms new subsidiary Vedanta Copper International; stock slips
Vedanta stock trades at ₹238.15 on the NSE, down by 0.81%. The company had informed that its wholly owned subsidiary, Malco Energy Limited, has incorporated a new wholly owned subsidiary in the name of Vedanta Copper International VCI Company Limited.
- November 16, 2023 12:49
Stock Market Live Updates: Shriram Asset Management: Ketankumar Shah re-designated as Fund Manager, stock jumps 5% on BSE
Shriram Asset Management Company informed that Ketankumar Shah has been re-designated as the Fund Manager with effect from November 16, 2023. The stock rises by 5% on the BSE, trading at ₹241.70.
- November 16, 2023 12:47
Share Market Live Updates: Hero MotoCorp hits record festival sales of 1.4 million units, stock surges 1.95% on NSE
- November 16, 2023 12:46
Share Market Live Updates: Aptech appoints Sandip Weling as Chief Business Officer; Stock trades flat on NSE
Aptech Ltd informed about the appointment of Sandip Weling, with effect from November 16, 2023, as Chief Business Officer (Retail Business). The stock trades at ₹251.40 on the NSE, down by 0.26%.
- November 16, 2023 12:42
Stock Market Live Updates: Union Min Piyush Goyal discusses business opportunities with CEOs of Micron and YouTube in US
The minister is in San Francisco for the Indo-Pacific Economic Framework (IPEF) meeting.
US-based semiconductor company Micron is setting up India’s first chip facility in Gujarat, which will create 5,000 direct and 15,000 indirect jobs in the coming years.
- November 16, 2023 12:41
Stocks to Watch: From being on verge of exiting renewables, Mahindras now aim 5x growth
Mahindras were on the verge of exiting from renewables due to high capital requirements, but are now looking at growing the business five times in the next five years, a top official said on Thursday.
A key change that prompted the rejig in plans and indeed opting for a ramp-up was the introduction of the infrastructure investment trusts (Invits), Mahindra and Mahindra’s managing director and chief executive Anish Shah said.
- November 16, 2023 12:40
Share Market Live Updates: RPP Infra Projects bags ₹80.85 crore BMRCL contract, Adds ₹52.63 crore in new projects
RPP Infra Projects Ltd has been received a letter of acceptance for supplying, fabricating & erecting structural steel works, including roofing for pre-engineered buidlings & workshops for proposed BMRCL Metro Depot at Challaghatta, Bangalore.at a contract price of ₹80.85 crore.
The company further informed that about reciept of two new projects with Samrat Construction: providing additional source under Retrofitting of Ramnad CWSS covering 5 Municipalities, 11 Town Panchayats and 3163 Rural Habitations in Ramanathapuram, Sivagangai and Pudukottai Districts for the Construction Period of 12 Months and operation and maintenance for 60 Months for the Value of ₹29.75 crore( Incl GST) and Operation and Maintenance of the CWSS in 3 Nos. of Thiruvarur District including repair and rectification works and supply of chemicals for three years period from 07-07-2023 to 31-03-2026 for the value of ₹22.88 crore (Incl GST).
The stock trades at ₹96.30 on the NSE, up by 0.05%.
- November 16, 2023 12:38
Share Market Live Updates: Izmo Limited allocates 22,200 shares under ESOP, stock rises 3.38%
The board of Izmo Limited has allotted 22,200 equity shares of face value ₹10 each towards the exercise of vested Employee Stock Options. The stock trades at ₹267.90 on the BSE, up by 3.38%.
- November 16, 2023 12:37
Share Market Live Updates: Apollo Micro Systems stock surges by 9.97% on the NSE, trading at ₹146.70.
- November 16, 2023 12:36
Stock Market Live Updates: Brigade Enterprises arm looking to exit GIFT City hotel business
- November 16, 2023 12:35
Commodities Market Live Updates: Finance Ministry cuts SAED on crude: Impact on ONGC, Oil India & major fuel exporters
The Finance Ministry on Thursday lowered the Special Additional Excise Duty (SAED), better known as windfall gain levy on domestically produced crude, to ₹6300 per tonne from ₹9800. The change has been made effective from Thursday, November 16.
SAED or duty on the export of diesel will decrease to ₹1 per litre from ₹2 per litre currently. The duty on jet fuel or ATF and petrol, bound for export, will continue to be NIL, according to a Finance Ministry notification. Product prices have come down, so windfall gain tax has been revised downward. Cutting the windfall levy on diesel and ATF for export will impact Reliance Industries and Rosneft-backed Nayara Energy as primary fuel exporters.
India first imposed windfall profit taxes on July 1, 2022. joining several nations that tax supernormal profits of energy companies. At that time, export duty of ₹6 per litre ($12/bbl) was levied on petrol and ATF, and ₹13 a litre ($26/bbl) on diesel. A ₹23,250 per tonne ($40/bbl) windfall profit tax on domestic crude production was also levied.
- November 16, 2023 12:34
Stock Market Live Updates: Commonents of Shrey Jain of SAS Online on mid-market trends
Today, Nifty crossed the 19,800 mark, and the Sensex surged by 450 points, benefiting from positive sentiments in global markets, all thanks to a dip in global inflation numbers for October.
On the weekly expiry day, should the Nifty maintain its positive momentum and remain above 19,650, there is potential for a move to 19,840. According to options data, there is a battle between call and put writers centered around the 19,450 level. The 19,550-19,600 range is expected to provide robust support, and as long as this level is sustained, there is the likelihood that the Index could ascend to 19,810-19,850 in the upcoming sessions.
- November 16, 2023 12:18
Stock Market Live Updates: Bosch stock rises by 3.23% on the NSE, trading at ₹20,360.
- November 16, 2023 12:17
Mid-day trading update: BSE reverses decline, NSE sees notable highs
During Thursday’s trading, Indian benchmark indices initially dipped following weaker Asian markets but swiftly rebounded, gaining traction to enter positive territory. By 12:13 p.m., the 30-share BSE Sensex surged by 438.36 points, reaching 66,114.29, while the Nifty climbed 119.65 points to hit 19,795.10. The surge was fueled by optimism from fresh foreign fund inflows, countering early losses.
By noon on November 16, 2023, 2,149 stocks advanced on the BSE, with 1,421 stocks declining, and 158 remaining unchanged, totaling 3,728 stocks traded. Among these, 300 stocks marked a 52-week high, while 19 touched a 52-week low.
Notable gainers on the NSE at 12:05 pm included TCS (3.49%), Tech Mahindra (2.57%), Infosys (1.95%), BPCL (1.80%), and HCL Tech (1.76%). On the other hand, major losers comprised Hindalco (-0.67%), Axis Bank (-0.60%), Adani Enterprises (-0.60%), Coal India (-0.57%), and UPL (-0.51%).
During the same period, notable stocks hitting a 52-week high were The Hi-Tech Gears (20%), Pritish Nandy Communications (19.93%), Bang Overseas (12.21%), Vishnu Prakash R Punglia (11.96%), and KPI Green Energy (10%).
- November 16, 2023 12:09
Nifty Today: Major gainers, losers on the NSE at 12:05 pm:
TCS (3.49%); Tech Mahindra (2.57%); Infosys (1.95%); BPCL (1.80%); HCL Tech (1.76%)
Hindalco (-0.67%); Axis Bank (-0.60%); Adani Enterprises (-0.60%); Coal India (-0.57%); UPL (-0.51%)
- November 16, 2023 12:09
Sensex Today: BSE sees 2,149 stocks rise, 1,421 decline at noon trade
Stocks advanced on BSE at 12 noon on November 16, 2023, were 2,149 against 1,421 stocks that declined; 158 stocks remain unchanged. Total stocks traded were 3,728. The number of stocks that recorded a 52-week high was 300, and those that hit a 52-week low was 19.
- November 16, 2023 12:08
Share Market Live Updates: Som Distilleries claims 45% market share in Madhya Pradesh beer industry, stock rises 2.44%
Som Distilleries & Breweries has announced a substantial and leading market share of 45% in the overall beer industry in the state of Madhya Pradesh for the month of October 2023. The company said that its latest figures reveal that it has emerged as the preferred choice among consumers, capturing nearly half of the market in Madhya Pradesh.
The stock is up by 2.44% on the NSE, trading at ₹303.95.
- November 16, 2023 12:06
Share Market Live Updates: Vikas Lifecare’s Genesis bags ₹49.5 crore gas meter order from Gujarat Gas
Vikas Lifecare Limited announced that its material subsidiary Genesis Gas Solutions (Genesis) has been awarded orders to supply 40000 Gas Meters valued an aggregate ₹495 million from Gujarat Gas Limited.
- November 16, 2023 12:02
Commodities Market Live Updates: Natural Gas: Wait for dips to go long
Natural Gas prices have been under pressure since the beginning of the week. The Natural Gas futures contract on the Multi Commodity Exchange (MCX) reached a high of ₹304 per mmBtu in the last week of October and has come down from there. The contract had tumbled about 18 per cent from that high to make a low ₹250 earlier this week. It is currently trading at ₹263 per mmBtu.
- November 16, 2023 11:52
Share Market Live Updates: Alok Industries soars 7.47% on NSE post facility agreements with Axis Bank
Alok Industries stock surges by 7.47% on the NSE, trading at ₹20.85. The company recently entered into facility agreements with Axis Bank Limited for availing : i) a term loan of ₹1,750 crore for the purpose of repayment of existing term loans from banks as a part of financial restructuring; and ii) working capital facility of ₹100 crore for the purpose of meeting working capital requirements of the Company.
- November 16, 2023 11:46
Share Market Live Updates: Hindustan Oil Exploration names Sivalai Senthilnathan as CFO; stock slightly up on NSE
The board of Hindustan Oil Exploration has approved appointment of Sivalai Senthilnathan as the Chief Financial Officer with effect from November 15, 2023. The stock trades at ₹173.60 on the NSE, up by 0.09%.
- November 16, 2023 11:38
Stock Market Live Updates: Vodafone stock rises by 3.20% on the NSE, trading at ₹14.50.
- November 16, 2023 11:38
Stock Market Live Updates: Banking outlook. Indian banks’ NPAs to drop to 3.5%, net interest margin to 2.9% by FY25: S&P Global
Indian banks’ weak loans (better known as non-performing assets or NPAs) is projected to drop to 4.5 per cent at the end of Fiscal Year 2023-24, and to 3.5 per cent at the end of Fiscal Year 2024-25, S&P Global said on Thursday. It does not expect interest rates to rise much in the near future.
- November 16, 2023 11:34
Share Market Live Updates: Divi’s Labs faces ₹82 crore GST demand, stock marginally up on NSE
Divi’s Laboratories has received order from Office of the Commissioner of Central Tax, Ranga Reddy GST Commissionerate, Hyderabad. The company gets GST demand of ₹82 crore. The stock trades at ₹3,545.85 on the NSE, up by 0.25%.
- November 16, 2023 11:26
Stock Market Live Updates: Major stocks that hit 52-week high
The Hi-Tech Gears (20%)
Pritish Nandy Communications (19.93%)
Bang Overseas (12.21%)
Vishnu Prakash R Punglia (11.96%)
KPI Green Energy (10%)
- November 16, 2023 11:19
Share Market Live Updates: ITCONS e-Solutions partners with Ecom Express for temp staffing; stock falls 9.83%
ITCONS e-Solutions has entered into an agreement with Ecom Express Limited for providing temp staffing services for blue color workforce on ITCONS payroll.
The stock tumbles by 9.83% on the BSE, trading at ₹42.64.
- November 16, 2023 11:13
Share Market Live Updates: Satin Creditcare stock up 2.05% as board mulls fundraising via debentures
Satin Creditcare Network stock rises by 2.05% on the NSE, trading at ₹266.0. The company’s borad to consider fund raising proposal by way of issuance of listed/unlisted, secured/unsecured, non-convertible debentures on private placement basis, at its meeting on Nov. 20.
- November 16, 2023 11:12
Sensex Today: Major gainers, losers on the BSE at 11 a.m.
Major gainers on the BSE at 11 am:
KPI Green (10%); General Insurance Corp. (8.70%); Alok (8.51%); Dish TV (8.36%); Sterlite Tech (6.79%)
Kalyan Jewellers (-4.25%); KPIL (-2.71%); Welspun (-2.64%); Elecon (-2.24%); Fairchem Organics (-2.05%)
- November 16, 2023 11:11
Bank Nifty Prediction Today – November 16, 2023: Outlook is mixed. Stay out of the market
Bank Nifty index is trading marginally higher. The index is currently trading at 44,250, up 0.1 per cent. The advance/decline ratio is at 10:2, indicating bullishness.
- November 16, 2023 11:01
Share Market Live Updates: CFF Fluid Control secures ₹11.30 crore contract, stocks up 1.43%
CFF Fluid Control Limited has received the contract for procurement of spares of TWA MCA 62.5 system totalling to approx. ₹11.30 crore\ (including tax). The stock rises by 1.43% on the BSE, trading at ₹461.
- November 16, 2023 10:54
Share Market Live Updates: Cipla’s shares fall after concluding stake sale in Uganda’s CQCIL
- November 16, 2023 10:51
Stock Market Live Updates: Hi-Tech Gears stock jumps 15.03% on the NSE, trading at ₹476.
- November 16, 2023 10:46
Commodities Market Live Updates: Crude oil down on higher-than-expected US inventory build-up
Crude oil futures traded lower on Thursday morning as US official data showed a higher-than-expected crude oil inventory build in the US.
At 9.52 am on Thursday, January Brent oil futures were at $80.43, down by 0.92 per cent, and December crude oil futures on WTI (West Texas Intermediate) were at $76.08, down by 0.76 per cent.
- November 16, 2023 10:41
Stock Market Live Updates: Reliance signs deal with Pokemon Co to showcase content for children
Reliance’s entertainment unit has signed a deal with The Pokemon Company to show children’s shows and movies on its platform, Reuters reported citing sources
- November 16, 2023 10:34
Share Market Live Updates: Puravankara secures redevelopment rights with revenue potential worth Rs 1,500 crore, shares dip
- November 16, 2023 10:29
Market Update: Sensex, Nifty recover to trade in the green after early decline
But, later, both the benchmark equity indices bounced back to quote in the green amid optimism due to fresh foreign fund inflows.
The Sensex traded 101.16 points up at 65,777.64, while the Nifty quoted with a gain of 23 points at 19,698.45.
Among the Sensex firms, Bajaj Finance, Power Grid, Bajaj Finserv, JSW Steel, Titan and Tata Steel were the major laggards.
NTPC, Tata Consultancy Services, Tata Motors and HCL Technologies were among the gainers.
- November 16, 2023 10:27
Stock Market Live Updates: Major Nifty Pharma gainers
Major gainers of Nifty Pharma stocks:
Natco Pharma (2.16%)
- November 16, 2023 10:20
IPO Watch: Tata Technologies sets IPO price band at Rs 475-500 per share
Tata Technologies on Thursday set a price band of Rs 475 to Rs 500 per share for its initial public offering (IPO), according to a newspaper advertisement.
The IPO, which is a first from the Tata Group in nearly two decades, will have an offer-for-sale of up to 6.09 crore shares from existing shareholders, including Tata Motors .
- November 16, 2023 10:19
Share Market Live Udpates: Suzlon Energy jumps 3.58% on NSE to ₹41.95
Suzlon Energy stock rises by 3.58% on the NSE, trading at ₹41.95 following the company announcing the RLMM listing of its S144 – 3 MW series of wind turbines, which are extendable to 3.15 MW.
- November 16, 2023 10:19
Share Market Live Updates: Rategain Travel Tech stock dips 1.93% on NSE to ₹698.15 post board’s approval
Rategain Travel Technologies stock declines by 1.93% on the NSE, trading at ₹698.15, after its board approved adoption of the preliminary placement document and authorisation of the opening of the issue on November 15.
- November 16, 2023 10:16
Stock Market Live Updates @ 10.15 a.m.: Sensex, Nifty recover swiftly in Thursday trading
Early in Thursday’s trading session, benchmark equity indices initially dipped following a weaker trend in Asian markets but swiftly recovered to register gains. At 10.10 a.m., the 30-share BSE Sensex rose by 148.43 points to reach 65,824.36, while the Nifty climbed 40.45 points to 19,715.90.
Subsequently, both indices rebounded, entering positive territory, fueled by optimism stemming from fresh foreign fund inflows. Within the Sensex, Bajaj Finance, Power Grid, Bajaj Finserv, JSW Steel, Titan, and Tata Steel experienced notable declines, while NTPC, Tata Consultancy Services, Tata Motors, and HCL Technologies emerged as gainers.
Across Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong recorded lower trades. Meanwhile, the US markets closed with gains on Wednesday. Brent crude, the global oil benchmark, saw a 0.75% decline, resting at USD 80.57 per barrel.
On Wednesday, Foreign Institutional Investors reversed their trend, turning buyers and purchasing equities worth Rs 550.19 crore following a continuous selling spree, as indicated by exchange data.
- November 16, 2023 10:09
Stock Market Live Updates: Bank NIFTY holds positive trend, eyes resistance at 44,500: Vikas Jain, Reliance Securities
BANK NIFTY continued its positive stance; there is a minor resistance at 44,500 levels, if it is surpassed can extend the move to 44,800 levels.
The previous top range of 43,800 levels would act as strong support and being the gap area after the past one week up move.
The key technical indicators remain bullish on the daily time frame chart and the hourly charts look little overbought so a minor consolidation cannot be ruled out.
Bank Nifty 44,500 CE has the highest OI while on the downside it has moved higher to 44,000 for the put options OI - Vikas Jain of Reliance Securities.
- November 16, 2023 10:08
Stock Market Updates: NIFTY-50 hits one-month high, closes above 50-day aAverage: Vikas Jain, Reliance Securities
NIFTY-50 surpassed the 50 day average of 19,580 and closed at one month high with positive momentum across sectors and stocks.
We continue to believe on the higher side the up move can be extended to 19,800 from current levels, while the support is at 19,400 levels.
RSI has moved higher above the median neckline and expect some volatility in today’s trade with respect to the weekly expiry
Highest call OI has moved to 19,800 strike while on the downside the highest put OI has moved higher to 19,600 for the weekly expiry. - Vikas Jain of Reliance Securities.
- November 16, 2023 10:07
Commodities Market Updates: Gold drops 0.5% to $1955/ounce on Fed rate path assessment
Gold – Gold erased gains as investors assessed the latest data on retail sales and inflation for clues on the Federal Reserve’s interest-rate path. Gold slipped 0.5% to $1955/ounce - Vikas Jain of Reliance Securities.
- November 16, 2023 10:06
Commodities Market Updates: Brent crude drops 2% to $81/bbl on surging US inventories: Vikas Jain, Reliance Securities
Oil – Brent Crude declined 2% to $81/bbl for the first time in five days as a rise in US inventories pointed to a soft demand outlook in the largest economy. - Vikas Jain of Reliance Securities.
- November 16, 2023 10:04
Stock Market Live Updates: Pre-market views of Vikas Jain of Reliance Securities
Expects rally on Dalal Street to be continued on account of cooling global inflation print during the month of October. Yesterday, UK inflation tumbled to the lowest level in two years at 0.0% against 0.5% previous month and US October PPI (Wholesale Price Index) fell to over 3-year low.
As a result, the US market yesterday gained quarter percent and the S & P 500 Index ended above 4500 technical level to close to a 3-month high. Cooling inflation data across the globe from Asia to Europe to US are indicating that the central bankers may cut interest rates as early as possible to focus on growth in the economy. On the domestic front, FIIs turned into net buyers yesterday, for the first time during the month of October and FIIs bought Index futures yesterday after a long time. Short covering may not be ruled out ahead of Nifty weekly expiry today. Gift Nifty is up 36 points or 0.2%.
Expectedly, beaten down IT, metal and financial stocks will be positive on account of favorable risk reward ratio and fall in US Dollar Index. US Fed officials statement, Housing data and IIP data in the US will be in focus today. Impressive IIP data and stimulus hope by China will be positive for metal stocks.
- November 16, 2023 09:58
Stock Recommendations: Bajaj Fiance: Motilal Oswal Retains Buy
Deficiencies (as against the digital lending guidelines) identified by the RBI are more operational in nature (with regards to KFS) and do not raise any questions on BAF’s processes or the structures of the various products in these two sourcing channels. BAF shared that it does expect any material financial impact from this event.
This action from the RBI definitely shows that it is stringently auditing the lending institutions (including banks) and is ensuring compliance with its guidelines by imposing penalties or restrictions on new customer/loan acquisitions in certain products or through certain channels.
We have not made any changes in our estimates as yet, even though we acknowledge that there will be an impact on both AUM growth as well as fee income in 2HFY24. However, our long-term thesis for this franchise remains intact. BAF will take corrective action, and once successful in satisfying the RBI, its momentum will only get stronger ahead with the digital ecosystem – app,
web platform and full-stack payment offerings – in place. Reiterate BUY – any significant correction in the stock price purely because of this event should be used as an opportunity to accumulate.
- November 16, 2023 09:57
Share Market Live Updates: Shreeji Translogistics ventures into mobile advertising, stock up 2.83% at ₹71.24
Shreeji Translogistics Ltd has started a new venture of mobile advertising on its trucks offering businesses a dynamic platform to showcase their products and services. The stock rises by 2.83% on the BSE, trading at ₹71.24
- November 16, 2023 09:56
Stock Recommendations: Narayana Hrudayalaya – Param Desai – Research Analyst, Prabhudas Lilladher
Rating: BUY | CMP: Rs1,133 | TP: Rs1,250
Q2FY24 Result Update – Strong show; earnings upgrade continues
Narayana Hrudayalaya (NARH) reported healthy EBITDA at Rs3.1bn (up 26% YoY), 11% beat to our estimate. Both India (Rs1.9bn; up 28% YoY) and Cayman ($14.6mn; up 20% YoY) reported healthy profitability. We expect this growth momentum to sustain. The company reiterates its aggressive capex plan mainly towards its core and high performing regions such as Bangalore, Kolkata and Cayman which enhances growth visibility. Despite capex intensity going up, RoE/ RoCE will remain healthy at ~25%. Our FY24E and FY25E EBITDA stands increased by 7% and 4%.; respectively. We maintain ‘BUY’ rating with a revised TP of Rs. 1,250/share (earlier at 1,110/share), based on 22x Sept2025E EV/EBITDA for India business and 12x EV/EBITDA for Cayman hospitals. At CMP, stock is trading at attractive valuations of 18x EV/EBITDA (adj for IND AS). Faster ramp up in new Cayman unit (operationalize from H1FY25) will be a key
- November 16, 2023 09:46
Stock in Focus: Motilal Oswal on ONGC: Long-awaited oil production from KG basin in sight
ONGC’s reported EBITDA stood at INR183.6b (down 2% YoY), 6% below our estimate, due to higher-than-expected SAED at USD11.8/bbl (vs. our est. of USD8.1/bbl).
- Management expects the commencement of oil production from KG-DWN-98/2 as early as Nov’23. The projected peak oil production is estimated to reach ~45kbopd by FY25. Additionally, gas production from the basin is poised to escalate to 10mmscmd by FY25.
- The government has adjusted windfall taxes in line with crude oil fluctuations and our estimate suggests that the government is allowing a post-windfall realization of ~USD75/bbl. We model the same at ~USD73/bbl from 3QFY24 onwards.
- Under the new gas pricing policy, gas produced from new APM fields or intervention in existing fields will attract 20% premium over APM prices. Every year, around 6-8% of ONGC’s gas production comes from new wells. We build in gas price assumptions of USD6.5/mmBtu from 3QFY24 onwards.
- We raise our standalone EPS estimates by 5% for FY24 and FY25; however, we have cut consolidated EBITDA/PAT estimates by 7%/9% for FY24 and by 4/8% for FY25 due to ONGC’s stake in MRPL and weaker-than-expected performance in OVL during 1HFY24.
- We value the standalone business at 6x FY25E adj. EPS of INR32.4 and add the value of investments to arrive at our TP of INR235, implying 18% potential upside. We reiterate our BUY rating on the stock
- November 16, 2023 09:45
Stock Market Live Updates: Trade Deficit: Emkay Global: All-time high led by broad-based imports surge
The all-time high goods trade deficit in October (USD31.5bn) was driven by a whopping broad-based sequential increase in imports, led by oil, gold and core imports. Festive demand and price effect may have attributed to this increase. Exports, on the other hand, continued to decline sequentially. Services surplus further improved, supporting the overall trade balance. We maintain FY24E CAD/GDP at 1.4%. Average commodity prices are likely to stay lower than those in FY23, implying that FY24E goods trade deficit/GDP is likely to clock ~6.7% of GDP vs 7.8% in FY23.
- November 16, 2023 09:41
Stock Market Live Updates: NBFC-MFIs’ portfolio quality improving, NPAs fall in FY23: MFIN report
Portfolio at Risk (PAR) for NBFC-MFIs (microfinance institutions) has gradually improved post-pandemic, with over 30-day PAR falling from a peak of 22.44 per cent in June 2021 to 10.5 per cent in March 2023.
- November 16, 2023 09:40
Stock Market Live Updates: Mukta Arts’ international arm inks agreement to operate cinemas in Saudi Arabia
- November 16, 2023 09:39
Stock Market Live Updates: UCO Bank stock declines by 0.50% on the NSE, trading at ₹39.60
- November 16, 2023 09:38
Stock in Focus: NTPC shares have hit a life high at Rs 252.55 on the NSE
- November 16, 2023 09:37
Nifty Today: Major gainers, losers at 9.30 a.m.
Major gainers on the NSE at 9:30 am:
BPCL (1.90%); NTPC (1.72%); ONGC (1.45%); Coal India (0.87%); Hero Motocorp (0.60%)
Bajaj Finance (-2%); Grasim(-1.30%); Bajaj Finserv (-1.15%); JSW Steel (-1.13%); Hindalco (-1.12%)
- November 16, 2023 09:30
Stock in Focus: Brokerage houses on Bajaj Finance
Jefferies on Bajaj Fin
Buy Call, Target Rs 9,470
In A Surprise Move, RBI Asks Co To Stop Sanction & Disbursal Under 2 Digital Loan Pdts
While This Is Negative & Speed Of Correction Will Be Key To Reinstate Products
See Limited Financial Impact As Insta EMI Card Base Is 5% Of Total Clients
Est Insta EMI Card Base To Be 0.2% Of Disbursals
Bajaj Finance: Global brokerages:
MS on Bajaj Fin
Overweight Call, Target Rs 10,300
Co Does Not Expect The Financial Impact To Be Material
Prima Facie, It Appears That New Digital EMI Card Acquisition Is Not Affected
Stock Could Be Under Pressure In The Near Term
Issue Looks To Be One That Can Be Resolved Soon, Thus Mitigating EPS Impact
CITI on Bajaj Fin
Neutral, TP Rs 8375
RBI imposes embargo on incremental loan sanction/disbursal under ‘eCOM’&‘Insta EMI Card’
Co will undertake a detailed review of KFS & implement requisite corrective actions to RBI’s satisfaction at the earliest
Of 41.9mn Active EMI CIF franchise as of Sep’23, active Insta EMI CIF was 4.2mn (10.1% of Active CIF)
In H1FY24, 13.4mn Insta EMI Cards were acquired digitally (monthly issuance run-rate of ~220k)
CLSA on Bajaj Fin
Buy, TP Rs 9500
RBI has mandated Co to immediately cease disbursals of 2 lending products, eCOM & Insta EMI Card
View this as more of an operational breach rather than a major violation
While ban is in effect, calculates that it will impact profits by 6%
- November 16, 2023 09:29
Stock Market Live Updates: Morning Outlook for 16th Nov 2023 from Mandar Bhojane of Choice Broking
The benchmark Sensex and Nifty indices are expected to open marginally higher on November 16, with indications from the GIFT Nifty suggesting a positive start for the broader index, projecting a gain of 70 points.
Analyzing the daily chart, Nifty displayed a gap-up opening, followed by a sustained upward movement, forming a hammer candlestick pattern with substantial volume. This pattern signals a bullish momentum in the index. Presently, the 19,500 level serves as immediate support for Nifty. On the higher side, resistance levels are identified at 19,850 and 19,900.
Contrastingly, on the Bank Nifty, a bearish candle was formed after a gap-up opening. The key support is identified at 44,000, while on the flip side, 19,600 and 19,700 act as resistance levels, suggesting that the price is likely to remain sideways within this range.
In terms of institutional activities, foreign institutional investors net bought shares worth Rs 550.19 crore, while domestic institutional investors purchased Rs 609.82 crore worth of stocks on November 15. This indicates a positive sentiment and participation from both foreign and domestic investors in the market.
- November 16, 2023 09:28
Stock Market Live Updates: Cyient and Thales collaborate to address climate change across business value chains; stock trades muted
Cyient has signed a Letter of Intent (LoI) with Thales, a global technology leader in areas of defence and security, aeronautics, space, and digital identity. Both parties have committed to working together to tackle climate change across their business value chains.
Cyient stock inches up by 0.58% on the NSE, trading ₹1,687.40.
- November 16, 2023 09:25
Stock Market Live Updates: Gensol Engineering secures EPC bid for green hydrogen mobility station in Kargil, Ladakh; stock jumps 3%
Gensol Engineering Ltd. (Gensol) emerged as the successful lowest bidder for the Engineering, Procurement, and Commissioning (EPC) of a trailblazing Green Hydrogen-based mobility station in Kargil, Ladakh.
Gensol stock rises by 2.99% on the NSE, trading at ₹811.
- November 16, 2023 09:24
Commodities Market Live Updates: Crude oil futures slide on US inventory surge: Brent and WTI down
Crude oil futures traded lower on Thursday morning as the official data showed more-than-expected crude oil inventory build in the US. At 9.13 am on Thursday, January Brent oil futures were at $80.58, down by 0.74 per cent; and December crude oil futures on WTI (West Texas Intermediate) were at $76.08, down by 0.76 per cent. December crude oil futures were trading at ₹6365 on Multi Commodity Exchange (MCX) in the initial trading hour of Thursday morning against the previous close of ₹6450, down by 1.32 per cent; and November futures were trading at ₹6333 as against the previous close of ₹6424, down by 1.42 per cent.
- November 16, 2023 09:23
Stock Market Live Updates: OPENING BELL: Indian equity indices open lower amidst global market trends
The Indian benchmark equity indices, Sensex and Nifty, opened weak on Thursday. The BSE Sensex, comprising 30 shares, dropped by 106.65 points to 65,569.28 during early trade, while the NSE Nifty saw a 26.85-point decrease to 19,648.60.
In the Nifty portfolio, ONGC, BPCL, TCS, Dr Reddy’s, and Hero MotoCorp showed gains. Conversely, Bajaj Finance, Bajaj Finserve, JSW Steel, Titan, and Bajaj Auto faced declines.
Despite a robust closure in the US markets, most Asian stocks are currently on a downward trend.
Analysts expect the market to remain in consolidation mode, given the valuation. They expect long-term investors to accumulate stocks at lower levels that will protect the market from any sharp downside. According to analysts, with the inflation coming down in India and the US, the market is ready for further up-move.
Vinay Paharia, CIO at PGIM India Mutual Fund, strikes a cautiously optimistic tone for the medium term. He notes the market’s premium trading status compared to its fair value, yet anticipates robust growth in this valuation ahead, fostering optimism for the medium to long term.
Ajit Mishra, SVP of Technical Research at Religare Broking, observes Nifty’s successful breach of the trend line barrier, projecting a potential move toward 19850. Notably, key players like Reliance, Infosys, and TCS, previously inactive, significantly propelled this advancement. Mishra advocates continuing a “buy on dips” strategy, emphasizing strategic stock selection amidst this market momentum.
Foreign institutional investors ended a 15-session selling streak by purchasing shares worth Rs 550 crore on a net basis on Wednesday. Meanwhile, domestic institutional investors continued their buying streak for the 20th consecutive session, acquiring shares worth a net Rs 610 crore.
- November 16, 2023 09:10
Stocks to Watch: Uco Bank says account holders have received ‘erroneous credits’ on payment system due to technical issue
Uco Bank makes IMPS channel offline as a precautionary measure, working with stakeholders to resolve the issue and restore services at the earliest
- November 16, 2023 08:57
Stock Market Live Updates: Fortis Healthcare gets allowance from Singapore High Court for winding up of RHTHealthTrust
- November 16, 2023 08:57
Commodities Market Live Updates: Gold, Silver prices today: Flat gold prices amid strong dollar
Gold prices were flat in early Asian hours on Thursday as the dollar firmed after strong U.S. retail sales data, offsetting support from hopes that the Federal Reserve had come to the end of its tightening cycle.
Spot gold was little changed at $1,958.79 per ounce, as of 0128 GMT. U.S. gold futures edged 0.1% lower to $1,961.70. A stronger dollar makes gold more expensive for overseas buyers.
Spot silver fell 0.2% to $23.39 per ounce, while platinum dipped 0.3% to $893.37. Palladium was flat at $1,031.40 per ounce. - Reuters
- November 16, 2023 08:53
Commodities Market Live Updates: Oil prices dip on US crude build, Asia demand worries
Oil prices dropped on Thursday, extending losses from the previous session, as signals of higher supply from the United States met worries about lacklustre energy demand from Asia.
Brent futures fell 28 cents to $80.90 a barrel. U.S. West Texas Intermediate crude (WTI) lost 31 cents to $76.35 a barrel.
Both benchmarks fell over 1.5% in the prior session. - Reuters
- November 16, 2023 08:08
Stock Market Updates: Stocks that will see action today: November 16, 2023
Buzzing Stocks: Bajaj Finance, Dabur, TCS, Suzlon, Tera Software, IIFL Finance, Brighton Group, Rategain Technologies, Bank of Baroda
- November 16, 2023 08:07
Stock Market Live Updates: Yield Surge: Ideal time to boost fixed income, says Puneet Pal, PGIM India MF
The recent rise in yields presents a good opportunity for investors to increase allocation to fixed income: Puneet Pal, Head-Fixed Income, PGIM India Mutual Fund.
October saw yields continuing their upward trajectory as RBI stuck a hawkish tone in the MPC meeting on October 6, as the RBI governor emphatically reiterated that the inflation target remains 4% which RBI is determined to achieve and it will not be satisfied merely with inflation falling below 6% which is the upper threshold of the inflation targeting framework. Apart from the hawkish tone, RBI also announced that they will be conducting open market sales (OMO) of government securities for liquidity management. Though the bond markets were positioned for a hawkish policy from RBI, the announcement of OMO sales caught the market on the wrong foot and yields went higher across the curve. The benchmark 10yr bond yield went up by 13bps on the day of the policy to touch a recent high of 7.38%. Bond markets stabilised thereafter as the interbank liquidity tightened, which negated any immediate need for RBI to conduct OMO sale of government securities. The benchmark 10yr bond yield ended the month at 7.36%
- November 16, 2023 07:48
Stock Market Updates: Economic Calendar - 16.11.2023
19:00 U.S. Unemployment Claims (Expected: 221k versus Previous: 217K)
19:45 U.S. Industrial Production m/m (Expected: -0.4% versus Previous: 0.3%)
19:55 U.S. FOMC Member Williams Speaks
21.00 U.S. FOMC Member Waller Speaks
- November 16, 2023 07:48
Stock Market Live Updates: Major U.S. listed stocks result calendar 16.11.2023
Walmart Inc. (Pre market) (Sector- Retail)
Alibaba Group Holding Limited (Pre market) (Sector- Financial)
NetEase, Inc. (Pre market) (Sector- Technology)
Warner Music Group Corp. (Pre market) (Sector- Media)
NICE Ltd (Pre market) (Sector- Technology)
Williams-Sonoma, Inc. (Pre market) (Sector- Retail)
Applied Materials, Inc. (Post market) (Sector- Technology)
Copart, Inc. (Post market) (Sector- Automobile)
Ross Stores, Inc. (Post market) (Sector- Retail)
ZTO Express (Cayman) Inc. (Post market) (Sector- Logistic)
Johnson Controls International plc (TENT) (Sector- Capital Goods)
- November 16, 2023 07:47
Stock Market Live Updates: TCS Buyback Record Date Announced
Buyback Price : 4,150 ₹
Last Closing Price : 3,404 ₹
Buyback Size ₹ : 17,000 Crore
Buyback Size in Shares : 4,09,63,855 Shares
Retail Quota : 61,44,579 Shares
Record Date : Saturday, 25th Novembe
- November 16, 2023 07:47
Stock Market Live Updates: U.S. Retail Sales MoM
(Data seen marginally better than estimates)
- November 16, 2023 07:46
Stock Market Live Updates: U.S. PPI MoM
(Data seen inline with estimates, neutral to negative for US Dollar)
- November 16, 2023 07:46
Stock Market Updates: Instl. Investors EQUITY Cash Trades PROV. - 15/11/2023 : Rs. CRS. :
FIIS : BUY +550 (15,621-15,071)
DIIS : BUY +610 (8,165-7,555)
- November 16, 2023 07:46
Stock Market Updates: Recent Interview... As of 17:16 PM Wednesday 15 November 2023
*Researchbytes Analyst App *
Caplin Point Lab: Vivek Partheeban, COO
Base Business Is Doing Well, Focussed On Completion Of Oncology Facility: Caplin Point
Kalyan Jewellers: Ramesh Kalyanaraman, ED
Studded Ratio Has Increased Due To Expansion In Non-South Market: Kalyan Jewellers
NCC: Neerad Sharma, Hd-Strategy
Company Is In Consultation With The Legal Team W.r.t. Sembcorp Case: NCC
Narayana Hruda: Sandhya J, Chief Financial Officer
Doubling Down On Capacity And Will Look At Inorganic Opportunities Too: Narayana Health
PNB Housing Fin: Girish Kousgi, MD
Gross NPA Ratio In Next Few Quarters Will Be Comparable To Best In The Industry: PNB Housing Finance
Uflex: Rajesh Bhatia, CFO
Q4 Should Be Better Than Q2 & Q3 For The Company: UFlex
BEML: Shantanu Roy, CMD
Beml Q2 Results: Eye On Export Opportunities | FY24 Orderbook Outlook | Shantanu Roy
EID Parry: Muthiah Murugappan, CEO
Refinery Has Been Facing Operational Issues: EID Parry
eClerx Services: Srinivasan Nadadhur, CFO
Headcount Has Increased Due To Growth In Offshore Business: eClerx
Fortis Health: Ashutosh Raghuvanshi, MD&CEO
Have Seen A Steady Growth In Avg Realisation Per Bed For The Past 6-7 Quarters: Fortis Healthcare
Replays available at www.researchbytes.com
- November 16, 2023 07:45
Stock Market Updates: Securities In F&O Ban For Trade Date 16-Nov-2023:
- November 16, 2023 07:44
Stock Market Updates: Trading Tweaks
Price band revised from 10% to 5%: EMS
Price band revised from 20% to 10%: Bliss GVS Pharma
Ex/record date Interim dividend: Bayer Cropscience, Cigniti Technologies, Container Corp. of India, MSTC, Power Grid, Saksoft, and Sundram Fasteners.
Move into a short-term ASM framework: Centrum Capital.
- November 16, 2023 07:43
Stock Market Updates: Insider Trades
Sasken Technologies: Promoter Arti Mody bought 8,952 shares on Nov. 12.
*Som Distilleries & Breweries:*Promoter Jagdish Kumar Arora bought 11 thousand shares on Nov.13.
Usha Martin: Promoter Nidhi Rajgarhia sold 3000 shares from Nov. 12. to Nov. 13.
- November 16, 2023 07:43
Stock Market Updates: Bulk Deals
ASK Automotive: Goldman Sachs India Equity Portfolio bought 23.20 lakh shares (1.17%) at Rs 310.05.
- November 16, 2023 07:42
Stocks to Watch: RateGain Travel Technologies Launches QIP Issue at Rs 676.66 per Share
RateGain Travel Technologies: The company opened its qualified institution placement issue on Nov. 15. The floor price has been fixed at Rs 676.66 per share.
- November 16, 2023 07:41
Stocks to Watch: Brightcom Group appoints Brand & Associates as statutory auditors, seeks extension for half-yearly results
Brightcom Group: The company approved the appointment of Brand & Associates as new statutory auditors effective Nov. 15. It sought a 40-day extension from exchanges for filing half-yearly results due to the resignation of the existing auditor and the subsequent appointment of a new auditor.
- November 16, 2023 07:40
Stocks to Watch: Vedanta’s Malco Energy establishes ‘Vedanta Copper International VCI’ in Saudi Arabia for copper operations
Vedanta: Unit Malco Energy incorporated a new wholly-owned subsidiary in the name of ‘Vedanta Copper International VCI’ in Saudi Arabia for its copper business.
- November 16, 2023 07:39
Stocks to Watch: One 97 Communications unveils three-year partnership with Amadeus for enhanced travel solutions
One 97 Communications: The company announced a partnership with global travel technology company Amadeus for the next three years. It will integrate Amadeus’s expansive travel platform, enhancing travellers’ experiences from search to booking and payments.
- November 16, 2023 07:37
Stocks to Watch: Suzlon Energy introduces enhanced 3.15 MW wind turbines, reinforcing market position
Suzlon Energy: Suzlon Group announced the RLMM listing of its S144-3 MW series of wind turbines, which are extendable to 3.15 MW, making them a formidable force in the market. This listing marks an important milestone for the successful commercialization of the product.
- November 16, 2023 07:36
Stocks to Watch: IIFL Finance to invest up to Rs 200 crore in IIFL Samasta Finance via rights issue
IIFL Finance: The NBFC will invest up to Rs 200 crore in arm IIFL Samasta Finance by way of subscription to 7,47,94,315 fully paid-up equity shares of face value of Rs 10 each, at a premium of Rs. 16.74 per share, through rights issue.
- November 16, 2023 07:34
Stocks to Watch: Satin Creditcare Network board to discuss fund-raising proposal on Nov. 20
Satin Creditcare Network: A meeting of the board of directors of the company is scheduled to be held on Nov. 20 to consider the fund-raising proposal by way of the issuance of listed/unlisted, secured/unsecured, and non-convertible debentures on a private placement basis.
- November 16, 2023 07:33
Stocks to Watch: TCS sets Nov. 25 record date for Rs 17,000 crore buyback
TCS: The IT major has set Nov. 25 as the record date for its Rs 17,000 crore buyback. The company will buy back up to 4.09 crore shares for Rs 4,150 apiece.
- November 16, 2023 07:28
Commodities Market Updates: Aluminium futures: Revise down the target
Aluminium futures (November series) on the Multi Commodity Exchange (MCX) marked a high of ₹209.85 last Monday. But the rally could not lift the contract beyond that, and the price fell. On Tuesday, it closed at ₹205.1.
- November 16, 2023 07:25
Personal Finance: Social media hype around cooperative banks: Here’s what depositors should know
Consider the full spectrum of factors before taking the plunge into the world of lesser-known banks
- November 16, 2023 07:25
Stock Market Updates: Policy Watch: Maritime India on the move with govt backing: FM
Finance Minister Nirmala Sitharaman on Wednesday laid out the government’s plans to “position India as a hub in new and diversified supply and value chains across the Indo-Pacific” with the Centre’s comprehensive fiscal and policy backing.
Giving an insight into the all-round government support during a special address at the Indo-Pacific Regional Dialogue (IPRD-2023), the Finance Minister said that as many as 31 projects have been identified at nine major ports for the national monetisation pipeline launched in 2022 with a total estimated capex of Rs 14,483 crore for 2022-25.
- November 16, 2023 07:24
Commodities Market Live Updates: Coking coal shipments dip 11% in October
India’s coking coal imports saw an 11 per cent decline to 4.41 million tonnes (mt) in October, primarily onaccount of a 33 per cent drop in shipments from Australia, over the same period last year. Australian shipments declined following rise in price of coking coal, a key steel-making feedstock material.
- November 16, 2023 07:23
Commodities Market Live Updates: Tin prices likely to rule firm for remainder of 2023
Tin prices, which topped $25,000 a tonne at close on the London Metal Exchange on Tuesday, are likely to rule firm for the remainder of the year and in the first quarter of 2024 on increasing demand and tight supplies, say analysts.
“LME tin price rallied somewhat this (last) week, approaching $24,800 after a sharp drop to a six-month low at the end of October, amid broader bearish sentiment across base metals,” said Tom Langston, Senior Market Intelligence Analyst, International Tin Association (ITA).
- November 16, 2023 07:22
Stock Recommendations: Uniparts India (Buy)
Uniparts India’s (Uniparts) revenue declined 18 per cent y-o-y and was 9 per cent below JM Financial expectation. Inventory correction during the quarter had an impact of 8-9% on revenue growth. EBITDA margin at 18.3 per cent was below JMF. Inventory correction is expected to bottom out in Q3 with normalisation in Q4. While US small agri demand remains muted, large Agri and CE demand remains healthy. Demand in EU also remains steady.
- November 16, 2023 07:21
Stock Recommendations: Tube Investments (Sell)
Tube Investments of India’s, flagship company of the Murugappa group, Q2-FY24 consolidated revenue grew 14 per cent y-o-y, driven by Industrial, Metal Forming and Engineering segments. However, bicycle demand continue to witness negative growth. Tube Investments’ margin contracted by 61 bps y-o-y owing to deleveraging and increase in employee cost. Sales for e-3Ws have commenced with an annual capacity of 19,000 units. Sales started for 3-W at a moderate space and currently concentrating on the southern states. Whereas, E-tractor & E-trucks at its homologation stage.
- November 16, 2023 07:20
Stock Market Updates: Sectoral Watch: As AI, Gen AI take centrestage,IT firms pump in money to get employees skilled
As Artificial Intelligence (AI) and Generative Artificial Intelligence (Gen AI) are ruling the IT industry, top IT vendors are investing huge amounts in the sector and also ensuring that employees are skilled in the domain rather than looking outside for skilled personnel. Wipro is investing $1 billion in AI in the next 3 years, while Cognizant will invest $1 billion in three years in Gen AI.
- November 16, 2023 07:19
Stock Market Updates: Economy Watch: Direct tax collection to exceed budget estimates, says CBDT Chairman Nitin Gupta
CBDT Chairman Nitin Gupta on Wednesday said that that direct tax collection will surpass the Budget Estimates of ₹18.23 lakh crore during FY 2023-24. He also said that cash seizure in poll-bound States is higher than previous election.
- November 16, 2023 07:18
Commodities Market Updates: Gold pushed trade deficit to new high of $31.46 billion in October
The trade deficit touched a record high of $31.46 billion in October as gold imports surged on account of festive demands, government data released on Wednesday showed. Meanwhile, India‘s merchandise exports rose 6.21 per cent to $33.57 billion in October.
- November 16, 2023 07:17
Stocks to Watch: RBI orders Bajaj Finance to stop lending via eCOM, Insta EMI Card
This is due to non-adherence by the NBFC to the RBI’s digital lending guidelines, particularly the non-issuance of Key Fact Statements (KFS) to the borrowers
- November 16, 2023 07:16
Stocks to Watch: Shree Cement to increase share of premium products in total sales gradually by focusing on “right pricing”
Shree Cement plans to increase the contribution of premium products to its total sales gradually by focusing on the “right pricing”.
The cement maker expects the share of premium products in its total trade sales to rise to 12 per cent in the next six months from 9.5 per cent in the second quarter this fiscal. Sale of premium products stood at 7.5 per cent of trade sales in the second quarter last fiscal.
- November 16, 2023 07:15
Commodities Market Live Updates: Exporters see drop in coffee crop; order books look slim
Most growers say a clearer trend on output would emerge as the ongoing harvest of arabicas, which has been advanced by over a month due to early blossom showers, makes progress
- November 16, 2023 07:14
Stock Market Updates: Sectoral Watch: Microfinance industry adds 80 lakh new women clients to its fold in FY23
In FY23, the microfinance industry saw growth in portfolio outstanding as well as improvement in portfolio quality
- November 16, 2023 07:12
Stocks to Watch: TCS issues transfer order to over 2,000 employees
Tata Consultancy Services has issued transfer notices to nearly 2,000 associate employees, giving them only two weeks to join at the new location.
According to transfer notices reviewed by businessline, TCS has also asked employees to arrange for their travel and accommodation on their own and seek reimbursement at a later date. Employees alleged that those who resisted the transfer are facing action from the IT firm, which has presently locked out these employees from the office systems.
- November 16, 2023 07:11
Commodities Market Live Updates: FCI sells 2.84 lakh tonnes of wheat at average ₹2,234/quintal in latest e-auction
The government, through the Food Corporation of India (FCI), sold 2.84 lakh tonnes (lt) of wheat in the open market sale scheme through e-auction on November 15, which is about 95 per cent of 3 lt of total quantity offered for sales to the processors. After raising the offered quantity in the auction, the government has been able to lower the selling rates of wheat.
- November 16, 2023 07:10
Stocks to Watch: Two overseas subsidiaries dismissed as defendants in federal cases in the US: Dabur India
Dabur India on Wednesday said that two of its international subsidiaries, Dabur International and Demoviva Skin Essentials Inc have been dismissed as defendants in federal cases in the US pertaining to the hair relaxer products industry. With this development, only Namaste Laboratories LLC, another international subsidiary of the company, remains a defendant in these cases along with other industry players, it added.
- November 16, 2023 07:09
Commodities Market Updates: All efforts on to stop coal imports by FY26: Pralhad Joshi
Coal Minister Pralhad Joshi on Wednesday said that the Ministry is working on all fronts, including increasing production from commercial and captive mines, in a bid to stop imports of the critical commodity by FY26.
- November 16, 2023 07:08
Stocks to Watch: ONGC to turnaround OPal by FY25; scout for strategic investor by FY27
Oil and Natural Gas Commission (ONGC) will bring in a strategic partner in ONGC Petro additions (OPaL) by FY27, after the State-run company infuses ₹18,365 crore in the Gujarat-based petrochemicals venture and make it profitable by FY25.
- November 16, 2023 07:07
Stock to buy today: Brigade Enterprises (₹735.35): BUY
The short-term outlook is bullish for Brigade Enterprises. The stock surged over 4 per cent on Wednesday. It has also taken the share price well above ₹720 – an intermediate resistance. Strong support is in the ₹700-685 region.
- November 16, 2023 07:06
Technicals: Day trading guide for November 16, 2023: Intraday supports, resistances for Nifty50 stocks
Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS and SBI
- November 16, 2023 07:00
Share Market Live Updates: Asia’s markets open mixed; Japanese Nikkei 225 slips slightly
Asia’s stock markets opened Thursday with a slight downward trend, despite the ongoing rise in US stocks. Simultaneously, Treasury bonds saw a decline as investors evaluated fresh indicators of strength in the global economy.
The Japanese Nikkei 225 index traded 0.11% lower at 33,476.99, down by 42.71 points, while the TOPIX increased by 0.043%, gaining 1.03 points, reaching 2,374.25.
Australia’s S&P/ASX 200 index experienced a 0.30% decline, dropping by 21.40 points to 7,084.60.
- November 16, 2023 06:59
Share Market Live Updates: Wall Street gains on easing inflation, Target’s upbeat forecast
U.S. stocks closed slightly higher on Wednesday, as fresh inflation data reinforced investor hopes that the Federal Reserve is done raising interest rates, while retail stocks were boosted by an upbeat forecast from Target
Also on Wednesday, retail sales data showed a smaller-than-expected decline of 0.1% in October, against forecasts of a 0.3% fall, according to economists polled by Reuters.
The Dow Jones Industrial Average rose 163.51 points, or 0.47%, to 34,991.21, the S&P 500 gained 7.18 points, or 0.16%, at 4,502.88 and the Nasdaq Composite added 9.46 points, or 0.07%, at 14,103.84.
The benchmark S&P 500 and tech-heavy Nasdaq had posted their biggest daily percentage gains in more than six months on Tuesday, after the consumer prices data. - Reuters