Stock Market Today| Share Market Live Updates - Find here all the live updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for 19 August 2024.
ALL UPDATES
- August 19, 2024 16:19
Stock Market Live Today: Market ends flat as banking shares drag, IT and metals shine
Markets closed nearly flat on Monday, with the BSE Sensex ending at 80,424.68, down 12.16 points or 0.02 per cent, while the Nifty 50 finished at 24,572.65, up 31.50 points or 0.13 per cent. The day began on a positive note, with the Sensex opening at 80,680.25 and Nifty at 24,636.35, but trading remained range-bound throughout the session.
- August 19, 2024 16:14
Stock Market Live Today: MRO-TEK CFO Rengarajan Gopalakrishnan resigns due to health concerns
MRO-TEK Realty informed that Rengarajan Gopalakrishnan has resigned from the office of Chief Financial Officer of the Company due to health concerns with immediate effect.
- August 19, 2024 16:14
Stock Market Live Today: Paytm stock ends day’s trade 1.37% higher at ₹572 on the NSE
- August 19, 2024 15:40
Stock Market Live Today: Top gainers and losers on the NSE at 3 pm
Top gainers:
Hindalco (4%), Shriram Finance (3.47%), BPCL (3.32%), Tata Steel (3.06%), LTIMindtree (2%)
Top losers:
M&M (-2.59%), Bajaj Auto (-1.17%), IndusInd (-1.07%), Axis Bank (-1.02%), SBI Life (-0.96%)
- August 19, 2024 15:40
Stock Market Live Today: Sensex down 12 pts, Nifty up 31 pts
BSE Sensex closed at 80,424.68, down by 12.16 pts or 0.02% on Monday, and Nifty 50 ended at 24,572.65, up 31.50 pts or 0.13%.
- August 19, 2024 15:40
Stock Market Live Today: LIC receives GST demand order for ₹20.18 lakh
Life Insurance Corporation of India has received demand order for Goods & Service Tax, Interest and penalty for Uttarakhand State. The order is appealable before the Commissioner (Appeals), Uttarakhand Division.
Demand of GST, interest and penalty notice for F.Y. 2019-20: GST – INR 7,00,351/- Interest – INR 8,77,302/- Penalty - INR 4,40,859/
LIC stock traded at ₹1,071 on the NSE, up 1.30%.
- August 19, 2024 15:16
Stock Market live today: DCM Shriram commissions its H2O2 plant of 52,500 TPA at its Chemical complex
DCM Shriram has commissioned its Hydrogen Peroxide (H2O2) plant of 52,500 TPA at its Chemical complex in Jhagadia, Bharuch Dist., Gujarat, today.
Stock trades 4.77% higher on the NSE at ₹1,137.05
- August 19, 2024 15:14
Stock Market live today: ONGC Videsh Ltd secures contract extension for producing oil and gas in Vietnam
ONGC Videsh Ltd has secured a 16-year contract extension for producing oil and gas in Vietnam, alongside getting three more years to explore a separate block in the contested waters of the South China Sea, officials said.
- August 19, 2024 15:11
Stock Market live today: Mishra Dhatu Nigam Limited (MIDHANI) has secured an order of ₹285 Crore. Stock is up 1.37% on the NSE, trading at ₹425.85
- August 19, 2024 15:10
Stock Market live today: Market Capitalisation of the 9 listed companies of the Murugappa Group aggregated to ₹3,44,626 Crore as of March 31, 2024 (previous year ₹2,25,320 Crore).
- August 19, 2024 15:09
Stock Market love today: Murugappa Group release their Q1 FY24-25 results
The Murugappa Group has announced its Group Financial details for FY24. The Group’s Profit After Tax grew by 15.2% at ₹7,885 crore when compared with ₹6,846 crore in FY23. Its turnover increased by 5% to ₹77,881
crore in FY24 (vs ₹74,220 crore in FY23). Earnings before Interest, Taxes, Depreciation and Amortisation (EBITDA) rose 11%, to ₹11,554 crore (₹10,426 crore in FY23).
- August 19, 2024 15:07
Stock Market live today: Vishnu Chemicals acquires Jayansree Pharma in ₹52 crore deal
Vishnu Chemicals Limited announced today its acquisition of Jayansree Pharma Private Limited (JPPL) for an enterprise value of ₹51,99,83,923. The company’s board of directors approved the acquisition on August 19, 2024, and a share purchase agreement was signed with JPPL and its shareholders.
The shares of Vishnu Chemicals Limited were trading at ₹443.60, up by ₹4.25 or 0.97 per cent, on the NSE at 2:20 pm on Monday.
- August 19, 2024 15:06
Stock Market live today: Top losers on the NSE
M&M (-2.47%), IndusInd (-1.32%), Axis Bank (-1.27%), ICICI Bank (-1.15%), Bajaj Auto (-1.14%)
- August 19, 2024 15:06
Stock Market live today: Top gainers on the NSE
Hindalco (3.87%), BPCL(3.37%), Shriram Finance (3.05%), Tata Steel (2.94%), LTIMindtree (2%)
- August 19, 2024 15:04
Stock Market live today: Mid-day Market updates
Indian stock markets displayed modest gains by mid-day on Monday, building on early momentum driven by positive global cues and hopes for U.S. Federal Reserve rate cuts. As of 12:50 PM, the Sensex stood at 80,465.67, up 0.04%, while the Nifty 50 rose 0.15% to 24,578.50.
The day has seen broad-based gains so far, with 2,689 stocks advancing compared to 1,238 declines. Notably, 268 stocks have hit 52-week highs, while only 33 have touched 52-week lows.
- August 19, 2024 15:03
Stock Market live today: Market overview
Stocks advanced on BSE at 3 pm on August 19, 2024, were 2,680 against 1,322 stocks that declined; 136 stocks remain unchanged. Total stocks traded were 4,138. The number of stocks that recorded a 52-week high was 283, and those that hit a 52-week low was 34.
In addition, 461 stocks traded in upper circuit and 258 stocks hit the lower circuit.
- August 19, 2024 14:58
Stock Market live today: Top gainers of Nifty metal stocks
Hindalco (3.84%), National Aluminium (3.40%), Tata Steel (3.19%), Vedanta (3.10%)
- August 19, 2024 14:54
Stock Market live today: DCX Systems stock locked in upper circuit at ₹337.95 on the NSE, higher by 4.99%, on receipt of contracts/orders for ₹107,08,89,320 from domestic and overseas customers
- August 19, 2024 14:30
Stock Market live today: Nibe Ordnance and Maritime signs a MOU with Department of Industries, Government of Maharashtra
Nibe Ordnance and Maritime has signed a Memorandum of Understanding (MOU) with Department of Industries, Government of Maharashtra for manufacturing of shipyard infrastructure and crafts at Ratnagiri at an investment of ₹1200 Crore.
- August 19, 2024 14:28
Stock Market live today: CWD enteres a Master Supply Agreement (MSA) with PhonePe
CWD Limited has entered a Master Supply Agreement (MSA) with PhonePe to design, develop, and manufacture Sound Box devices. The two-year deal is valued at ₹100 crore.
CWD shares hit upper circuit at ₹953.80 on the BSE, up 20%.
- August 19, 2024 14:27
Commodities Market: Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd.
“Gold continues to trade positive with prices holding firm above $2500 per ounce, supported by a weaker dollar ahead of the key data and Fed chairman’s speech later in the week at Jackson Hole Symposium. Trader’s will be looking for clues on the quantum of rate cuts at the Fed’s meeting next month, as currently the market remains divided between 25bps or 50bps of cuts”.
“Technically, the trend remains positive till prices are above 70850/ 70200, upside resistance holds at 72550/ 73200.”
“Crude oil futures continue to see high price swings and are currently down 0.5%, as focus remains on developments in the middle-east conflict and the progress of ceasefire talks. Also in focus will be China’s prime loan rate decision on Tuesday and the weekly oil inventory data on Wednesday.”
“Technically, momentum looks sideways with support at 6250/ 6170, while on the upside resistance holds at 6390/ 6470”
- August 19, 2024 14:25
Stock Market live today: Knowledge Marine & Engineering Works secures word order from New Mangalore Port Authority (NMPT)
Knowledge Marine & Engineering Works has secured word order from New Mangalore Port Authority (NMPT) for the work of hiring of one RSV Type IV Security Patrol Boat with a speed of not less than 25 knots. The contract is for a period of five years and is valued at ₹9.69 crore.
- August 19, 2024 14:24
Mutual Fund Performance Analysis: PL Capital
For the month ended July, 2024, monthly returns of Nifty 50 TRI, Nifty Midcap 150 TRI & Nifty Small Cap 250 TRI were 4.00%, 5.04% & 5.01% respectively. Out of the 283 open-ended equity diversified funds, about 39% of the funds were able to outperform their respective benchmarks over the past one month, ended July 31st, 2024. Previous month, 57% of the schemes were able to beat their benchmarks.
For the 1-year ended July, 2024, returns of Nifty 50 TRI, Nifty Mid Cap 150 TRI & Nifty Small Cap 250 TRI returns were 27.84%, 55.53% & 59.11% respectively. Investors are advised to stick to their SIP investments and keep a long-term focus. SIPs over the past 3-years have yielded a return in excess of 11% to 12% p.a. on an average for the top quartile equity funds.
- August 19, 2024 14:02
Stock Market live today: Vishnu Chemicals approves the acquisition of Jayansree Pharma Private Limited (‘JPPL’)
Vishnu Chemicals board has approved the acquisition of Jayansree Pharma Private Limited (‘JPPL’).
Vishnu Chemicals stock rose 1.60% on the NSE, trading at ₹446.40.
- August 19, 2024 13:37
IPO Watch: Xolopak India files DRHP for IPO listing on NSE Emerge
Xolopak India Limited, a Leader in Sustainable Disposables, files DRHP for Listing on NSE Emerge
Sustainable disposable packaging maker Xolopak India Limited filed DRHP, to be listed with NSE Emerge
· IPO comprises a fresh issue of Upto 52,86,000 Equity Shares with a face value of Rs. 10 each
· The company manufactures and supplies wooden cutlery, ice cream sticks, ice cream spoons. Their product range covers items like spoons, forks, knives, sporks, coffee stirrers, chopsticks, ice cream sticks, spoons and kulfi sticks
XIL primarily serves the business-to-business (B2B) segment and operates a production facility situated in Bhopal, Madhya Pradesh.
Xolopak India intends to invest Rs. 20 crore from the net IPO proceeds for the acquisition of equity shares in Atharva Poly-Plast Private Limited, Rs. 20.17 crore to purchase new plant machinery and plans to utilise the remaining funds for general corporate purposes
Beeline Capital Advisors Private Limited is the sole Book Running Lead Manager, and Bigshare Services Private Limited is the Registrar to the Offer
- August 19, 2024 13:36
Stocks in Focus: Railway stocks surge
BEML (4%)
Titagarh (3.19%)
RVNL (1.38%)
Texmaco Rail (1.38%)
IRCTC (1.53%)
IRFC (0.98%)
Railtel (0.52%)
- August 19, 2024 13:35
IPO watch: TruAlt Bioenergy files for IPO to raise capital for expansion
Bengaluru-based TruAlt Bioenergy Limited, one of India’s leading biofuel producers, and one of the first producers of CBG under the Sustainable Alternative Towards Affordable Transportation (“SATAT”) scheme has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise capital through an Initial Public Offering (IPO).
The IPO, with a face value of ₹10 each, is a mix of fresh issuance of Rs 750 crore and an offer for sale of up to 36 lakhs equity shares by promoters group selling shareholders. The offer for sale consists of up to 18 lakh equity shares by Dhraksayani Sangamesh Nirani, and up to 18 lakh equity shares by Sangamesh Rudrappa Nirani.
The company, in consultation with the book-running lead managers, may consider a private placement, rights issue, preferential offer or any other method of specified securities, for an aggregate amount not exceeding Rs 150 crores as Pre-IPO placement shall not exceed 20% of the size of the fresh issue. If such placement is completed, the fresh issue size will be reduced.
- August 19, 2024 13:13
Stock in Focus: Tamilnad Mercantile Bank stock rose 2.71% to trade at ₹463.20 on the NSE.
- August 19, 2024 13:07
Stock market live today: Life Insurance Corporation reduces stake in Hindustan Copper; LIC stock rises 1.31% on NSE
Life Insurance Corporation of India has decreased its shareholding in Hindustan Copper from 8.171% to 6.086% of the paid-up capital of the said Company.
LICI stock rose 1.31% on the NSE, trading at ₹1,071.15.
Hindustan Copper shares were up 1.86% to trade at ₹319.80.
- August 19, 2024 12:45
Stock market live today: Mini Diamonds India expands into Dubai market
Mini Diamonds India Ltd (MDIL) announced on August 19, 2024, a partnership with A V PALACE DMCC, a diamond and jewellery enterprise based in Dubai. The collaboration aims to expand MDIL’s lab-grown diamond jewellery segment in Dubai and adjacent regions.
- August 19, 2024 12:44
Financial markets update: IndiaBonds.com launches BondCase: An innovative tool for retail rnvestors
IndiaBonds.com, a SEBI-registered Online Bond Platform Provider, has introduced BondCase, an innovative tool designed for retail investors to create and invest in customized bond baskets in just a few clicks. BondCase offers users the option to select from pre-built thematic collections or to build personalized bond portfolios that align with their financial goals and risk tolerance.
BondCase includes predefined bond themes such as High-Yielding Bonds, Monthly Income Bonds, Short-Term Bonds, PSU Bonds, and Bank Bonds. Investors can also build their own BondCase and select from over 60-100 bond offers that are live on IndiaBonds at any time.
Investors can choose between three and seven unique ISINs (International Securities Identification Number) in a single transaction, with investment amounts ranging from minimum Rs. 3 lakhs to maximum Rs. 1 crore, supporting effective portfolio diversification.
- August 19, 2024 12:42
Stock market live updates: Bombay Dyeing appoints Khiroda Jena as CFO and CRO
Bombay Dyeing & Mfg Company announced the appointment of Khiroda Jena, as the Chief Financial Officer and Chief Risk Officer (CFO & CRO) w.e.f. today.
- August 19, 2024 12:12
Stock market live today: News Highlights
INDIA
1)India’s retail inflation in July dropped to 3.54%, marking a near five-year low as food prices eased, government data showed. The actual figure fell below the Reserve Bank of India’s 4% target, primarily due to a high-base effect from last year.
2)Food prices, which constitute nearly half of the retail inflation basket, saw a significant slowdown, rising only 5.42% year-on-year in July compared to a 9.36% increase in June. Notably, vegetable prices rose by 6.83% in July, a sharp decline from the 29.32% surge in the previous month.
3)India’s Manufacturing output rose 2.6% in June, compared to a 3.5% rise a year ago. Electricity generation was up 8.6%, compared to a 4.2% rise last year, while mining activity grew 10.3% as against a 7.6% increase last year
4)The Index of Industrial Production (IIP) released by the Ministry of Statistics and Programme Implementation (MoSPI) shows a growth rate of 4.2% for June 2024.
5)India’s wholesale inflation declined to 2.04 percent in July from a 16-month high of 3.4 percent in the previous month as a favourable base in food products helped keep prices contained, according to data released by the government on August 14.
6)India’s net direct tax collection grew 22.48 per cent to about Rs 6.93 lakh crore as of August 11 this fiscal, government said on Monday (12/8/24). The net direct tax collection includes a personal income tax collection of Rs 4.47 lakh crore and corporate tax collection of Rs 2.22 lakh crore. Securities Transaction Tax (STT) mopped up Rs 21,599 crore, while other taxes (which include equalization levy and gift tax) earned Rs 1,617 crore.
7)Gross direct tax collections from April 1 to August 11 have increased by 23.99 percent over the same period of the previous year, reaching 8.13 lakh crore rupees. The Income Tax Department said that collections were 6.55 lakh crore rupees during the same period last year.
8)India’s foreign exchange reserves decreased by $4.8 billion, hitting $670.12 billion for the week ending August 9. Foreign currency assets saw a decline of $4.079 billion, and gold reserves fell by $860 million. However, SDRs and the IMF reserve position experienced slight increases.
9)The Reserve Bank’s 2023-24 survey of Foreign Liabilities and Assets of Mutual Fund (MF) Companies covered 45 Indian MF companies and their Asset Management Companies (AMCs). The foreign liabilities of MF companies increased by 36.0% during 2023-24, reaching US$ 25.4 billion at market value by March 2024, mainly due to units issued to non-residents. Overseas assets rose to US$ 8.8 billion, driven by an increase in equity securities, resulting in net foreign liabilities of US$ 16.6 billion, up from US$ 12.0 billion a year ago. The UAE, USA, UK, and Singapore were the leading destinations for MF units held by non-residents, while the USA and Luxembourg accounted for nearly 85% of the overseas equity investment.
10)The Reserve Bank of India released survey of Foreign Liabilities and Assets of the Mutual Fund (MF) Companies for the 2023-24 round according to which foreign liabilities in Asset Management Companies increased by US$ 3.4 billion to US$ 6.4 billion in March 2024, owing to higher inward direct and portfolio investments. Their overseas assets remained low at US$ 0.1 billion. Residents of Japan, Canada, and the UK accounted for 83% of FDI in Indian AMCs.
11)India’s trade deficit grew to $23.5 billion in July as exports declined 1.4% to $34 billion, mainly due to a drop in petrol, diesel, and gems exports. Imports increased 7.5% to $57.5 billion, with crude oil imports rising 17% to $13.9 billion.
12)The Export-Import Bank of India (India Exim Bank) has projected that the country’s total merchandise exports are expected to reach USD 111.7 billion, marking a year-on-year (y-o-y) growth of 4.2 per cent and non-oil exports are anticipated to amount to USD 89.8 billion, reflecting a y-o-y growth of 6.26 per cent in the second quarter (July-September) of the fiscal year 2025.
13)The central government has cut the windfall tax on petroleum crude to ₹2,100 per metric ton from ₹4,600 per metric ton, effective from August 17. India revises the windfall tax on petroleum crude every fortnight based on the movement of international crude and product prices.
14)Foreign portfolio investors (FPIs) pumped a total of ₹64,824 crore into Indian equities in the last 12 months—from August 2023 to August 2024 so far, driven by India’s robust macroeconomic fundamentals and resilient market sentiments.
15)As of August 13, FPI outflows amounted to ₹17,404 crore, a sharp contrast from the substantial inflows worth ₹58,930 crore recorded over the previous two months. The strong FPI outflows in August coincides with a noticeable drop in the Indian equity markets.
16)India bought USD 2.8 billion worth of crude oil in July from Russia and is the second largest importer, while China remains the largest importer of Russian oil, newswire PTI reported on Friday. India is the world’s third-largest oil-consuming and importing nation.
17)Foreign portfolio investor (FPI) ownership continued its decline, falling to 18.8%—its lowest level in nearly 12 years. Compared to the March quarter, FPI ownership dropped by 30 basis points (bps) on a quarter-on-quarter (QoQ) basis, bringing the total value to USD 843 billion.
WORLD
1)OPEC cut its forecast for global oil demand growth in 2024 citing softer expectations for China, a reduction that highlights the dilemma faced by the wider OPEC+ group in raising production from October. This is the first cut in OPEC’s 2024 forecast since it was made in July 2023 and comes after mounting signs that demand in China has lagged expectations due to slumping diesel consumption and as a crisis in the property sector hampers the economy.
2)The annual inflation rate in the US slowed for a fourth consecutive month to 2.9% in July 2024, the lowest since March 2021, compared to 3% in June and below forecasts of 3%. Meanwhile, annual core inflation also slowed for a fourth consecutive month to 3.2%, the lowest reading since April 2021, compared to 3.3% in June, and in line with expectations. The monthly core inflation rate also edged up to 0.2% from 0.1% as expected
3)Producer prices in the United States increased 2.2% year-on-year in July 2024, easing from an upwardly revised 2.7% gain in June and below market expectations of 2.3%. while core PPI decreased to 2.4% from 3%
4)US New jobless claims, a proxy for layoffs, increased to 2,069 in the week ending August 10, up from 1,937 the week before, the Labor Department said. U.S. unemployment claims dropped to 227,000 last week, down 7,000 claims from 234,000 the week prior on a seasonally adjusted basis.
5)The U.S. government deficit surged to $1.5 trillion in the first 10 months of FY 2024, as reported by the Treasury Department. In July alone, deficit spending soared to $244 billion. Over this period, both total outlays and receipts were $5.6 trillion. Social Security was the largest expenditure, amounting to $1.2 trillion, followed by net interest payments, which surpassed spending on health, Medicare, and national defense. Government spending continues to remain at crisis levels.
6)The UK economy grew as expected in the second quarter of the year, National Statistics (ONS) showed Thursday (15/8/24). The country’s GDP grew by 0.6% QoQ in Q2, compared to 0.7% growth in the previous reading. The market consensus was at 0.6%. Furthermore, UK GDP expanded at an annual pace of 0.9% YoY in Q2 from a 0.3% expansion in Q1, matching the estimation of 0.9% growth.
7)UK CPI inflation edged up to 2.2% in July, from 2% in June – but that was always expected, as the drag from energy prices eased. In addition, the headline rate came in below both the consensus, 2.3%, and the Bank of England’s forecast, 2.4%. Core inflation also fell to 3.3%, from 3.5%, consensus, 3.4%.
8)UK Unemployment was at 4.2% in the three months to the end of June, down from 4.4% over the previous quarter. Meanwhile, wage growth continued to slow, rising at an annual rate of 5.4% - the weakest for around two years, figures from the Office for National Statistics (ONS) suggested.
9)Industrial Production in the Euro Area decreased 3.90 percent in June of 2024 over the same month in the previous year. Industrial Production in Euro Area averaged 0.90 percent from 1991 until 2024, reaching an all time high of 41.40 percent in April of 2021 and a record low of -28.40 percent in April of 2020.
10)The Reserve Bank of New Zealand (RBNZ) board members decided to cut its Official Cash Rate (OCR) steady by 25 basis points (bps) from 5.50% to 5.25%. The market participants expected a rates on-hold decision. This is the first time the central bank has cut the official cash rate since March 2020.
11)Japan’s economy expanded at an annualized 3.1 percent in the April-June quarter of 2024, the government said in a report on Thursday. This marked a rebound from the annualized real 2.3-percent contraction in the January-March period.
12)Japan’s Producer Price Index (PPI) increased by 3.0% year-on-year in July, slightly up from the previous reading of 2.9%, matching market expectations. On a monthly basis, the PPI rose by 0.3% in July, compared to 0.2% in the previous month.
13)China’s retail sales increased by 2.7% year-on-year in July, surpassing market expectations of 2.6% and rebounding from June’s 17-month low of 2.0%.
14)China’s industrial production grew by 5.1%, slightly below the expected 5.2% and down from the 5.3% growth recorded in the previous month
- August 19, 2024 12:12
Financial market updates: Corporate Bond Highlights
AAA 3 Years Bond traded between 7.63%-7.66% this week.
AAA 5 Years Bond traded between 7.50%-7.55% this week.
AAA 10 Years Bond traded between 7.40%-7.45% this week.
•New Issuances:
NATIONAL BANK FOR FINANCING INFRASTRUCTURE AND DEVELOPMENT
Ratings: AAA/Stable by CARE & INDIA; Issue Size: 1000 + 4000 Crs; Maturity Date: 12/08/2044; Allocated 3910 Crs at 7.36%
INDIA INFRADEBT LIMITED\u0009
Ratings: AAA/Stable by ICRA & CRISIL; Issue Size: 250 + 750 Crs; Maturity Date: 29/10/2029.
Allocated 765 Crs at 8.00%
Ratings: AAA/Stable by ICRA & CRISIL; Issue Size: 100 + 400 Crs; Maturity Date: 13/08/2039.
Allocated 150 Crs at 7.95%
FEDBANK FINANCIAL SERVICES LIMITED
Ratings: AA/Positive by CRISIL; Issue Size: 120 + 0 Crs; Maturity Date: 14/08/2028.
Allocated 120 Crs at 8.50%
TATA HOUSING DEVELOPMENT COMPANY LIMITED
Ratings: AA/Stable by CARE; Issue Size: 225 + 0 Crs; Maturity Date: 14/08/2027.
Allocated 225 Crs at 8.27%
NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT (Re-issue)
Ratings: AAA/Stable by ICRA & CRISIL; Issue Size: 2000 + 3000 Crs; Maturity Date: 06/12/2029.
Allocated 5000 Crs at 100.53
ICICI HOME FINANCE COMPANY LIMITED
Ratings: AAA/Stable by & CARE & ICRA; Issue Size: 200 + 300 Crs; Maturity Date: 16/11/2027.
Allocated 265 Crs at 7.95%
MANAPPURAM FINANCE LIMITED
Ratings: AA/ by CRISIL; Issue Size: 200 + 250 Crs; Maturity Date: 19/08/2026.
Allocated 450 Crs at 100
- August 19, 2024 12:11
Financial market updates: Weekly Market Update (12th August 2024 – 16th August 2024)
•Fixed Income
The New 10-Year Benchmark GOI 7.10 2034 traded between 6.85% - 6.89% during this week.
The Old 10-Year Benchmark GOI 7.18 2033 traded between 6.89% - 6.92% during this week, tracking movement involved around US Treasury Yields and Inflation data.
•Auction Highlights
RBI conducted the Auction for G-sec, SDL, and T-Bill for the aggregated amount of INR 34,000 Crore, INR 15,950 Crore, and INR 20,000 Crore, respectively.
G-sec Cutoff:
7.02% GS 2031: 100.85/6.8596%\u0009\u0009\u0009\u0009
7.23% GS 2039: 102.47/6.9571%
7.46% GS 2073: 105.37/7.0665%\u0009
SDL Cutoff:
04 Years: GJ 7.05%
05 Years: GJ 7.06%
09 Years: BH 7.26%
10 Years: TN 7.21%
11 Years: TS 7.26%
14 Years: TS 7.28%
21 Years: TS 7.28%
25 Years: JK 7.27%
Reissue of 6.82% Chhattisgarh SDL 2028 issued on July 07, 2021 at 99.06/7.0974
Reissue of 7.40% Chhattisgarh SGS 2030 issued on June 28, 2023 at 101.08/7.1688
Reissue of 7.22% Maharashtra SGS 2034 issued on Aug 07, 2024 at 99.90/7.2339
Reissue of 7.27% Maharashtra SGS 2039 issued on Aug 07, 2024 at 100.02/7.2675
Reissue of 7.27% Maharashtra SGS 2044 issued on Aug 07, 2024 at 100.02/7.2679
Reissue of 7.26% Maharashtra SGS 2049 issued on Aug 07, 2024 at 99.99/7.2607
T-Bill Cutoff:
091 Days: INR 8000 Crore 98.3775/6.6152%
182 Days: INR 6000 Crore 96.7540/6.7540%
364 Days: INR 6000 Crore 93.7158/6.7240%\u0009
•Commodities:
1)Brent Crude Oil: $78.64-$82.40 (Per barrel)
2)Gold: INR 7,031-INR 7,162 24 Carat (1 Gram)
3)Silver: INR 82,500-INR 84,000 (1 KG)
•US Treasury Yield:
1)US 2 Years Treasury: 3.91%-4.11%
2)US 5 Years Treasury: 3.64%-3.82%
3)US 10 Years Treasury: 3.81%-3.96%
- August 19, 2024 12:08
Nifty Today: Top gainers of oil & gas stocks
GAIL (2.81%), Mahanagar Gas (2.40%), Hindustan Petroleum (2.37%), BPCL (2.32%)
- August 19, 2024 12:08
Nifty today: Top gainers, losers at noon trade
Top gainers on the NSE as at 12 noon:
Hindalco (3%), BPCL(2.30%), LTIMindtree (2.18%), Shriram Finance (1.78%), Dr Reddy’s (1.60%)
Top losers:
M&M (-2.05%), Bharti Airtel (-1.04%), Tata Motors (-0.85%), Tata Consumer Products (-0.83%), Axis Bank (-0.79%)
- August 19, 2024 12:02
Sensex Today: Advance-decline ratio at noon trade
Stocks advanced on BSE at 12 noon on August 19, 2024, were 2,721 against 1,147 stocks that declined; 169 stocks remain unchanged. Total stocks traded were 4,037. The number of stocks that recorded a 52-week high was 259, and those that hit a 52-week low was 32.
In addition, 375 stocks traded in upper circuit and 237 stocks hit the lower circuit.
- August 19, 2024 12:00
Stock market live today: Tata Consumer Products Limited_Right Issue_Closes Today
Issue Open - 05-Aug-24
Issue Close - 19-Aug-24 (Today)
Right issue Size: Rs. 2,997.76 Crs (3.66 Crs Shares)
Stock Price – 1178.60/-
Right issue Price: Rs. 818/-
Payment Terms: Rs. 818/- (Rs 818 to be paid on application)
Rights Entitlement Ratio: 1 Right Equity Share for every 26 Shares held (Effectively 0.04 for every 1 share held)
Last Trade date (Cum Right): 25 Jul 2024
Ex-Right Trading date: 26 Jul 2024
Record Date: 27 Jul 2024
Right Entitlement (RE) Trading Period: 5 Aug 2024 to 12 Aug 2024
Last day of Renunciation of Rights Entitlements: 12 Aug 2024
Date of Allotment (on or about): 26 Aug 2024
Date of listing (on or about): 30 Aug 2024
- August 19, 2024 11:54
Stock market live today: Tata Asset Management launches Alpha-based passive investment strategy on Nifty200 Alpha 30 Index
Tata Asset Management Company has announced the launch of Tata Nifty200 Alpha 30 Index Fund to track the performance of the top 30 companies with high alpha within the Nifty200 Index.
The Index’s methodology measures excess return generated by the portfolio relative to its benchmark index Nifty200 after adjusting for risk and volatility. Based on the alpha factor, the fund identifies and includes stocks that generate returns above the broad market return and risk-free return, giving more importance to stocks which generate high excess returns per unit of risk. As a result, Nifty200 Alpha 30 Index has been able to outperform market cap weighted indices like Nifty200 during market upturns. However, it should be noted that Nifty200 Alpha 30 Index may underperform vis-à-vis Nifty200 during market downturns.
At the launch of the index fund, Anand Vardarajan, Chief Business Officer, Tata Asset Management, said, “This strategy aims to capture extra returns over what Nifty200 index could provide by selecting the top 30 stocks which can deliver alpha. This is yet another differentiated offering from our side with a view to building our product portfolio. We believe these could add value to clients when it comes to constructing and diversifying their investment portfolio. ”
While sector exposure will change to reflect the outperforming sectors, the index will maintain a stock cap of 5% which makes the index diversified across sectors and stocks.
Index Methodology:
The Nifty200 Alpha 30 Index methodology measures excess investment return relative to the Benchmark index Nifty200 using 1 year trailing price. Top 30 stocks with highest Jensen’s Alpha are chosen, allocating more weight to stocks which generate high Alpha per unit of risk, i.e., volatility. Our Tata Nifty200 Alpha 30 Index Fund replicates this index.
Index is re-balanced on a quarterly basis using data ending last trading day of February, May, August, and November. The stocks should have a minimum listing history of 1 year as on the cut-off date and should be available for trading in derivative segment (F&O) as on the effective date.
- August 19, 2024 11:51
Stock in focus: NCC shares surge 4.94% on NSE; record date for equity dividend set for August 30
NCC shares climbed 4.94% to trade at ₹325.15 on the NSE.
The company had announced August 30, 2024, as the Record Date for determining the shareholders who are eligible for the Equity Dividend.
- August 19, 2024 11:51
Stock in focus: Zen Technologies gets patent for revolutionary mine detection system
Zen Technologies Limited announced the recent patent grant for its revolutionary “Mine Detection System”, incorporating GPS/GIS technology to plot and record in memory the coordinates of mines in terms of Latitude/Longitude and Military Grid in Defense Series Maps (DSM).
Stock trades at ₹1,715.35 on the NSE, up 0.73%.
- August 19, 2024 11:50
Stocks in focus: Adani Group stocks outlook on the NSE
Majority of stocks trade flat. Adani Green Energy up 3%.
Adani Green Energy (2.65%)
Adani Energy Solutions (1.82%)
Adani Total Gas (0.85%)
Adani Wilmar (0.83%)
NDTV (0.74%)
Adani Enterprises (0.59%)
ACC (0.41%)
Adani Ports and SEZ (0.23%)
Adani Power (0.10%)
Ambuja Cements (-0.24%)
- August 19, 2024 11:24
Stock in focus: Adani Group’s trailing 12-month EBITDA to hit ₹1 lakh crore by December, boosted by energy and infrastructure sectors
Adani Group’s trailing 12-month EBITDA to hit ₹1 lakh crore by December, boosted by energy and infrastructure sectors
- August 19, 2024 11:16
Stock market live today: Voltas shares up nearly 2% on analyst upgrades; Nomura, UBS boost target prices
Voltas shares increased 1.75% to ₹1,562.00 as of 10:25 am today, following positive analyst assessments of the company’s performance and outlook. Nomura maintained a “Buy” rating with a target price of ₹1,857, citing strong growth prospects and margin tailwinds. They raised their FY25 revenue growth forecast for the Unitary Cooling Products (UCP) segment to 30% year-on-year.
- August 19, 2024 10:57
Stock market live today: Macrotech Developers’ debt surges 43.5%, shares fall
Macrotech Developers stock trades at ₹1,284.70 on the NSE, down by 0.89%. The company had said its net debt rose 43.5 per cent to Rs 4,320 crore during the first quarter of this fiscal year due to higher investment in land acquisition and construction, as against Rs 3,010 crore at the end of the March quarter of 2023-24.
- August 19, 2024 10:50
Commodity markets live today: Aluminium futures: Hold the longs
Aluminium futures (August series) on the Multi Commodity Exchange (MCX) has been on a recovery over the past week. It closed above the resistance at ₹215 last week, turning the short-term outlook positive.
From the current level of ₹220, the nearest hurdle can be spotted at ₹225. A breakout of this can lift aluminium futures to ₹232. Post a rally to ₹232, the contract might see a decline.
- August 19, 2024 10:40
Bank Nifty Prediction today – Aug 19, 2024: Index facing a barrier
Bank Nifty began today’s session with a gap-up at 50,684 compared to Friday’s close of 50,517. The index has now fallen 50,420, down 0.2 per cent after the first hour of today’s trade.
The breadth of the index shows that 8 out of 12 stocks are down, giving a bearish bias. Bank of Baroda, up 1.9 per cent, is the top gainer. At the other end of the spectrum, Axis Bank, down 0.9 per cent, is the top loser.
- August 19, 2024 10:33
Share market live today: Strides subsidiary receives VAI status from USFDA, stock flat
Strides Alathur Private Limited, a wholly-owned subsidiary of Strides Pharma Science (Strides) has, received an Establishment Inspection Report (EIR) from the USFDA for its formulations facility at Alathur, Chennai.
USFDA has determined that the inspection classification of this facility is “Voluntary Action Indicated” (VAI).
Stock trades flat at ₹1,300.15 on the NSE.
- August 19, 2024 10:31
Stock market live news: Maruti Suzuki faces ₹850 crore deferred tax liability hike
Maruti Suzuki India shares trade flat at ₹12,192.15 on the NSE. Company said it would need to increase provision for deferred tax liability by around ₹850 crore due to the withdrawal of indexation benefit while calculating long-term capital gains on debt mutual funds.
- August 19, 2024 10:27
Nifty prediction today – Aug 19, 2024: Outlook for the index is bullish
Nifty 50 opened today’s session with a gap-up at 24,636 versus Friday’s close of 24,541. The index moderated a bit and is currently hovering around 24,580, up 0.1 per cent.
The advance/decline ratio stands at 34/16, giving the domestic benchmark index a positive bias.
- August 19, 2024 10:23
Stock in focus: Zomato stock has hit a 52-week high on the NSE at ₹280.90. Currently trades 2.96% higher at ₹272.26.
- August 19, 2024 10:18
Nifty Today: Major stocks that hit 52-week high on the NSE
Sterling Tools (13.89%), DCM Finserv (10%), Caplin Point (9.56%), Gravita (9.47%), Inox Green (7.05%)
- August 19, 2024 10:17
Stock market live today: Researchbytes Events Update: As of 08:14 AM Monday 19 August 2024
Dial: +91 22 6280 1341
( Hosted by Adfactors )
- August 19, 2024 10:14
Stock market live today: Ola Electric Mobility stock trades at the upper circuit
- August 19, 2024 10:13
Stock in focus: Veranda Learning collaborates with Jumeira University Connect to launch CA preparation course in UAE; stock up 1.59% on NSE
Veranda Learning Solutions is partnering with Jumeira University Connect, the training arm of Jumeira University, to introduce a Chartered Accountancy (CA) preparation course for students in the UAE.
Veranda Learning Solutions stock rises 1.59% on the NSE, trading at ₹285.
- August 19, 2024 10:08
Currency market updates: Rupee rises 11 paise to 83.84 against US dollar in early trade
Forex traders said the weakening of the American currency in the overseas market and retreating crude oil prices also supported investor sentiments.
At the interbank foreign exchange, the rupee opened at 83.88 against the greenback, then gained ground and touched 83.84, registering a gain of 11 paise over its previous close. On Friday, the rupee moved in a tight range and settled just 1 paisa lower at 83.95 against the American currency.
- August 19, 2024 09:47
Stock market live today: Q1 FY25 Earnings Review
Rajiv Batra – JP Morgan
1Q lackluster, with a moderate uptick in revenue growth & margin expansion
Factors such as ltd govt expenditure, a relatively higher base in previous yr, demand fluctuations & rising competition were a key drag
Surendra Goyal – CITI
Nifty earnings revision is now flattish (vs. upwards revision earlier), although still tracking ahead of long-term trend
Downgrade Autos to Neutral
Add Indus to India preferred list & MGL to India midcap list.
Ridham Desai – Morgan Stanley
Trend in earnings growth remained steady in 1FQ25, even a tad ahead of expectations.
Earnings beat ratio remained robust as breadth in margin expansion improved sequentially.
Broad market earnings ahead of narrow market
Sunil Tirumalai – UBS
BSE 200 OP growth slowed sharply to 7-qtr low of 2.1% y/y growth (exfnacils ),OPtrajecoy flatens) in 1QFY25
Much of flattening comes from a decline in energy sector
FY25 consensus remains flat: Auto &Metals see upgrades
- August 19, 2024 09:47
Stock market live today: Stock Recommendations: Jefferies on Entero Healthcare
Buy, TP Rs 1510
1Q in line
CO reiterated FY25 revenue growth guidance of 35-40% with healthy margin expansion.
Since listing, Entero has announced acquisition of 10 distributors with FY24 revenue of INR8.3bn & its contribution should reflect from 3Q
- August 19, 2024 09:46
Stock market live today: Stock Recommendations: Jefferies on Sunteck Realty
Buy, TP Rs 690
Revival of a long-stuck JV in Dubai adds nearly a quarter to Co’s NAV & key +ve from 1Q results.
FY25 has started off well with 30% sales growth & 32% rise in Operating Cash Flow, even as P&L was impacted by a one-off.
- August 19, 2024 09:46
Stock market live today: Stock Recommendations: CLSA on Steel
India Initiates Anti-dumping Investigation Against Imports From Vietnam
Even If Imposed, See Limited Impact As Vietnam Accounts For Small Portion Of Steel Imports
Domestic Steel Prices Are At An 8% Premium To Parity
Duties Will Have To Be Substantial To Raise Domestic Prices, & India Is Now Net Exporter Of Steel
Maintain Underperform Call On Steel Companies
Any Uptick In These Stocks Would Be Viewed As An Exit Opportunity
- August 19, 2024 09:45
Stock market live today: Stock Recommendations: MS on Oil Marketing Companies
Integrated Margins YTD Tracks 10-45% Above Mid Cycle Margin For Gasoline & Diesel
Prefer HPCL Over BPCL & IOCL, As Margin Start To Pick Up
Prefer HPCL Over BPCL & IOCL As Benefits Of Hardware Upgrades/Expansion Starts Flowing Through
- August 19, 2024 09:45
Stock market live today: Stock Recommendations: HSBC on Shriram Fin
Buy Call, Target Raised To Rs 3,600
Co Is In Its Most Convincing Operating Period In Over A Decade
Co Is In Its Most Convincing Operating Period Due To Strategic Clarity & Healthy Metrics
At 1.7x FY26 BVPS, Stock Still Retains Several Re-rating Triggers
Co Also Has Option Value Of A Credit Rating Upgrade
Risks For Co Include Dependence On The Vehicle Finance Portfolio For Growth
A Slowdown In AUM Growth Would Be Negative
Disproportionate Stress In Its Personal Loan Portfolio Could Impact Confidence In Its Asset Quality
- August 19, 2024 09:45
Stock market live today: Stock Recommendations: HSBC on Aurobindo Pharma
Buy Call, Target Rs 1,625
FDA Issued A Warning Letter To Eugia 3, Co’s Key Injectable Plant
Plant Status Is Already Classified As ‘OAI’
See Low Risk Of An FDA Import Alert For Plant
Believe FDA Remains Focused On Ensuring Supplies To US
Assume 11% Risk To FY25/26 EPS Estimates
- August 19, 2024 09:44
Stock market live today: Stock Recommendations: Bernstein on Paytm
Outperform Call, Target Rs 600
Discussions About ‘Intrinsic Value’ Of Platform & Potential Upside Scenarios Have Returned
Routes To Value Creation That We See For Co Includes Continued Journey In Current Format
Value Creation Route Includes Finding Corporate Parent That Could Ease The Regulatory Overhang
A Merger With A Bank/NBFC Could Unlock Full Value Of Platform
- August 19, 2024 09:44
Stock market live today: Stock recommendations: UBS on Zomato
Buy Call, Target Raised To Rs 320 From 260
Q1 Surprised Positively With Stronger Quick Commerce GMV Growth
Q1 Surprised Positively With A Solid 27% Growth In Food Delivery
Quick Commerce & Food Delivery Growth Came Ahead Of Estimates
Margin Expansion In Both Quick Commerce & Food Delivery Came Above Estimates
Management Was Optimistic With An Implicit Positive Guidance Revision
Post For Q1 FY26-28, GMV Est Is Up 20-30% For Quick Commerce & 2-3% For Food Delivery
Co Is Trading At FY27 EV/EBITDA Of 35x Vs Average Of Indian Consumer/Retail Peers At 30x
Co Has A Superior Growth & Margin Expansion Profile
- August 19, 2024 09:43
Stock market live today: Brokerages on Voltas
Nomura on Voltas
Buy, TP Rs 1857
Growth outlook remains strong
1Q beat led by projects; focus on expanding leadership in AC; margin tailwinds in place
Raise UCP revenue growth to 30% y-y in FY25F (26% earlier) to factor in low channel inventory levels
MS on Voltas
EW, TP Rs 1225
Continues to focus on market leadership in Room AC business & guides for high-single-digit margins in UCP business
Voltas in subsequent quarters expects to write-back of provisions made for international projects
Kotak Inst Eqt on Voltas
Sell, TP Rs 1100
While UCP’s growth was as expected (strong summer), segment EBIT margin at 8.6% missed est of 10%
Ltd margin expansion & unchanged guidance (HSD margin), despite robust volume growth, signify intense competitive intensity in sector
CLSA on Voltas
U-P, TP raised to Rs 1310
In an exceptionally strong 1Q, it was able to regain some of the lost market share although margins have been soft.
With RAC segment implying a valuation of c. 58X FY26CL P/E, see limited re-rating potential
UBS on Voltas
Buy, TP Raised to Rs 1960
CO strengthened its position in Room AC segment supported by its strong supply chain & distribution network
For Q2 management highlighted it generally remains a lean period
However co optimistic on demand in Q3FY25 led by festive spend
- August 19, 2024 09:43
Stock market live today: Navneet Education Limited-Buyback_Schedule Announced
Route – Tender
Buyback Price: 200/-
Current Market Price: 158.25/-
Market Cap: Rs 3,589 Crores
Buyback Size: Rs 100 Crores (Representing 7.82% and 7.68% of the total paid up equity share capital and free reserves) Buyback Size: 50,00,000 shares (Representing 2.21% of O/s. shares)
Retail Quota: 7,50,000 Shares
Entitlement:
General Category - 10 Equity Shares for every 509 Equity Shares held on the Record Date
Retail Category - 46 Equity Shares for every 547 Equity Shares held on the Record Date
Buyback Record Date: 13 Aug 2024
Tender Period:
Start Date - 20 Aug 2024
Close Date - 26 Aug 2024
Obligation Date - 30 Aug 2024
Settlement Date - 02 Sep 2024
- August 19, 2024 09:42
Stock market live today: AlA Engineering Ltd-Buyback_Record Date Tomorrow
Route – Tender
Buyback Price: 5,000/-\u0009\u0009
Current Market Price: 4,556/-
Market Cap: Rs 42,970 Crores
Buyback Size: Rs 500 Crores (Representing 7.92% and 7.51% of the total paid up equity share capital and free reserves)
Buyback Size: 10,00,000 shares (Representing 1.06% of O/s. shares)
Retail Quota: 1,50,000 shares
Dividend of Rs. 16
Dividend Record Date: 20 Aug 2024
Last Cum Trading Date: 19 Aug 2024 (Today)
Ex-Date: 20 Aug 2024
Buyback Record Date: 20 Aug 2024
Buyback Schedule: Not Yet Announced
- August 19, 2024 09:41
Stock market live today: Sectoral watch: CLSA ON STEEL
* India initiates anti-dumping investigation against imports from Vietnam
* ADD unlikely to be a game-changer
* Vietnam accounts for less than 10% of Indian steel imports
* Domestic steel prices are at 8% premium to parity
* Duties will have to be substantial to raise domestic prices, and India is now a net exporter of steel
* Current prices of steel stocks imply a sharp uptick in profitability in subsequent quarters
* Rise in profitablity is tough ask given weak spreads and likely surplus of flat steel in the domestic market
* Maintain Underperform ratings and any uptick in these stocks would be viewed as an exit opportunity
- August 19, 2024 09:40
Stock market live today: Hindustan Zinc Ltd (HINDZINC)- Offer for Sale
Hindustan Zinc Ltd (HINDZINC)- Offer for Sale
Issue Period:- 16- August-24 to 19- August-24
For Non- Retail ( QIB +HNI ) open & close date - 16-August -24
For Retail open & close date – 19 –August-24 (Today)
Floor Price: INR “486”
Closing Price on date of announcement: Rs. 572.95\u0009
Current Market Price: 519.95
Revised Green shoe offer
Base Issue size: 5.14 Crs Shares – 1.22% of O/S Capital
Green Shoe Issue size: 1.22 Crs Shares – 0.29% of O/S Capital
Total Issue Size: 6.36 Crs equity shares (INR 3091 Cr) – 1.51% of O/s Capital
Non-Retail Portion (QIB + HNI) - 90% of Offer Size - Bidding on 16-August -24
Total Issue Size: 5.72 Crs shares (INR 2782 Cr)
Retail Portion - 10% of Offer Size - Bidding on 19 August, 2024 (Today)
Total Issue Size: 0.63 Crs equity shares (INR 309 Cr)
Note : Upto Rs 2 lacs bids are classified as Retail and above non retail ( QIB + HNI )
Note : Based on clearing price discovered for Non retail bids, the minimum price to bid for Retail portion will be Rs 487.
- August 19, 2024 09:39
Stock in focus: MDIL announces partnership with A V PALACE DMCC, stock rises 2%
Mini Diamonds India Ltd (MDIL) has entered into a strategic partnership with A V PALACE DMCC, a well-established diamond and jewellery enterprise based in Almas Tower, Jumeirah Lakes Towers, Dubai.
Stock rose 2% on the BSE, trading at ₹104.07.
- August 19, 2024 09:38
Glenmark Therapeutics Inc., USA, launches Olopatadine Hydrochloride Ophthalmic Solution; stock gain over 1%
Glenmark Therapeutics Inc., USA, has launched Olopatadine Hydrochloride Ophthalmic Solution USP, 0.1% (OTC).
Glenmark Pharmaceuticals stock is up 1.35% on the NSE, trading at ₹1,586.95.
- August 19, 2024 09:35
Currency market updates: Rupee rises 8 paise to 83.87 against US dollar in early trade.
- August 19, 2024 09:34
Nifty Today: Top gainers, losers at 9.30 a.m.
Top gainers on the NSE as at 9.30am:
BPCL (2.80%), Shriram Finance (2.57%), ONGC (2.08%), NTPC (1.88%), LTIMindtree (1.37%)
Top losers:
M&M (-1.35%), HDFC Life (-1.10%), Grasim (-1.02%), Nestle India (-0.79%), Tata Motors (-0.68%)
- August 19, 2024 09:22
Commodities market update: Crude oil futures trade lower on China demand concerns
Crude oil futures traded lower on Monday morning due to concerns over demand for the commodity in China. At 9.18 am on Monday, October Brent oil futures were at $79.53, down by 0.19 per cent, and October crude oil futures on WTI (West Texas Intermediate) were at $75.36, down by 0.24 per cent. September crude oil futures were trading at ₹6333 on Multi Commodity Exchange (MCX) during the initial hour of trading on Monday against the previous close of ₹6355, down by 0.35 per cent, and October futures were trading at ₹6291 against the previous close of ₹6320, down by 0.46 per cent.
- August 19, 2024 09:21
Stock market live today: Opening Bell: Sensex climbs 245 points; analysts watch global sentiment amid lack of domestic triggers
BSE Sensex traded at 80,686.08, higher by 249.24 pts or 0.31% as at 9.15 am, and Nifty 50 traded at 24,627.15, up by 86 pts or 0.35%.
- August 19, 2024 08:49
Currency market live today: Rupee likely to open stronger
India Forex And Asset Management Pvt Ltd.
Rupee is likely to open stronger, around 83.87 amid overall Dollar weakness. It is likely to trade a range of 83.80-83.95 intraday with sideways price action.
Rupee had ended flat at 83.95 on Friday.
- August 19, 2024 08:47
Stock market live today: Stocks to watch out for on 19 August 2024
Caplin Point Labs: Injectibles plant in TN receives 0 observations from Brazil’s ANVISA
DCX Systems: Receives Rs 107 cr order from Domestic & Overseas Customers
Oil upstream stocks: Windfall Tax on crude cut to ₹2,100 from ₹4,600/tonne w.e.f. August 17
TMB: RBI approves appointment of Salee Sukumaran Nair as MD & CEO of Tamilnad Mercantile Bank for 3 years.
Tejas Networks: Arm receives Rs 96cr order for satellite equipment from NewSpace India (CPSE)
Yes Bank: Sumit Bali to join Yes Bank as Country Head, Retail Assets & Collection.
KPI Green Energy: Morgan Stanley took allocation at 935/-
Escorts Kubota: Company investment intent submitted to Uttar Pradesh government to acquire land, Company land intended to set up integrated Greenfield manufacturing facility.
Great Eastern Shipping: Company took delivery of a 2013 built medium range product tanker, Company had contracted to buy vessel in Q1FY25.
ACE: Company has been awarded with order for supply of 285 numbers for special forklifts and 6 numbers of rough terrain cranes with 30 tonne lifting capacity from ministry of defense.
Vivanta Industries: Company got order worth Rs 260 Million for procurement of medicines, machines & technology
Techno Electric: Company partners with IndiGrid for developing Greenfield transmission projects
TVS Motor: CEO says to expand electric 2W sales in both developing, developed markets
Jubilant Pharmova: Company’s unit, Jubilant Biosys to add drug discovery & preclinical development capabilities.
Samvardhana Motherson: Company has incorporated unit Motherson international ltd, Abu Dhabi, unit being acquired belongs manufacturing, assembling and related activities
TCNS Clothings: NCLT approved merger of TCNS Clothing into ABFRL
Urja global: Company announces pre-launch of high-speed electric scooter “Chetna” with homologation certificate and RTO registration
Bata: MD & CEO says consumption to revive in coming quarters, e-commerce to drive growth
GMR Airports: July Passenger Traffic Up 7.7% YoY At 1.06 Cr
Piramal Enterprises: Company’s promoter group acquires 0.27% stake in company.
KPI Green: Morgan Stanley, BoFa Securities participate in QIP
*Five Star Business:*Promoters and KMP to participate in Rs 32cr via pref issue
Kalpataru: JV received two arbitration awards in its favour against National Highways Authority of India
Soan Coms: Received certification for another Product i.e. Hub Wheel Motor for electric two wheelers under the Production-Linked Incentive (“PLI”) Scheme
Brigade: Company and Accor Launch ibis Styles Mysuru, their fourth hotel.
Mphasis: Appoints Aravind Viswanathan as the CFO of the company with immediate effect
Fedbank Fin: Board Meeting to be held on 22-Aug-2024 to consider Fund raising.
Hindustan Zinc: Promoter Vedanta to exercise oversubscription option in offer for sale
L&T Finance: Transitions to NBFC-ICC following subsidiary merger
SBI/PNB: Karnataka govt puts circular prohibiting all dealings with SBI, PNB on hold for 15 days
BSE: Company to pay differential regulatory fee directed by SEBI of Rs 1.67 Billion vs provision of Rs. 1.7 Billion.
Saurashtra cement: Company stoppage of kiln at Sidheegram plant would continue for another 10 days; stoppage of KILN on account of high clinker inventory.
SBI Life: Company in pact with Paralympic Committee of India as Gold Sponsor for Paris 2024 Paralympic Games
SBI: Bank hikes marginal cost of funds-based lending rate by 10 basis points
Kolte Patil: CFO Khiroda Jena resigns
REC: Company incorporates new subsidiary for Rajasthan Power Transmission Project
HDFC Life: Company gets tax demand worth Rs 112 crore including interest & penalty from Chandigarh Tax Authority.
Allsec Technologies: Gaurav Mehra resigns from the post of CFO and key managerial person of Allsec Technologies
Mahindra & Mahindra: Company unveils five-door Thar at a starting price of Rs 12.99 lakh.
MTNL: Company approves service pact with BSNL for 10 years.
GHCL: Annual maintenance activities of Boiler at Company’s Soda Ash plant is scheduled to take place from September 16, 2024 for a period of two weeks.
BSE: To pay the differential regulatory fee as directed by the SEBI, payment would lead to a total outflow of approx. ₹ 167.33cr
Vodafone: Company in November announce strategic partnership with Accenture to commercialize Vodafone’s Shared Operations.
Polyplex Corp: Board approves re-appointment of Pranay Kothari as whole-time director for 3 years
SpiceJet: Company is currently raising Rs 3,000 crore via qualified institutional placement.
Uno Minda: Company appoints Ramesh KS as CEO for ECS-2 Domain w.e.f. August 17, 2024.
Electronic Marts: Promoters sell Rs 689cr stake (7.8% stake)-Buyers Norway’s Govt Pension Fund Global+ SBI MF
BPCL Chairman: Plans to invest `1.7 lk cr over next 5 yrs to expand core biz, new energy foray
Sportking: Fixes Sept. 13 as record date for share split (1:10)
Steel companies: Steel prices in India have fallen to a three-year low
Maruti: Q2 PAT to be impacted by Rs 850cr due to removal of indexation benefit on debt funds
- August 19, 2024 08:41
Stock market live today: Fund Houses Recommendations
Jefferies on Entero Health: Initiate Buy on Company, target price at Rs 1510/Sh (Positive)
Jefferies on Voltas: Maintain Buy on Company, raise target price at Rs 1770/Sh (Positive)
Nomura on Voltas: Maintain Buy on Company, raise target price at Rs 1857/Sh (Positive)
UBS on Voltas: Maintain Buy on Company, raise target price at Rs 1960/Sh (Positive)
Jefferies on Sunteck: Maintain Buy on Company, raise target price at Rs 690/Sh (Positive)
Nuvama on Sunteck: Maintain Buy on Company, raise target price at Rs 690/Sh (Positive)
MOSL on Glenmark Pharma: Upgrade to Buy on Company, raise target price at Rs 1850/Sh (Positive)
HSBC on Auro Pharma: Maintain Buy on Company, target price at Rs 1625/Sh (Positive)
HSBC on Shriram Fin: Maintain Buy on Company, raise target price at Rs 3600/Sh (Positive)
JP Morgan on Persistent: Maintain Overweight on Company, raise target price at Rs 5300/Sh (Positive)
JP Morgan on KPIT Tech: Maintain Neutral on Company, raise target price at Rs 1700/Sh (Positive)
Nomura on Eclerx: Maintain Buy on Company, raise target price at Rs 3000/Sh (Positive)
Emkay on Suprajit: Maintain Buy on Company, target price at Rs 725/Sh (Positive)
UBS on Zomato: Maintain Buy on Company, target price at Rs 320/Sh (Positive)
Bernstein on PayTM: Initiate Outperform on Company, target price at Rs 600/Sh (Positive)
Systematix on Patanjali: Initiate Buy on Company, target price at Rs 2259/Sh (Positive)
Nuvama on India Strategy: Expects consumer, private banks, insurance, IT to lead growth in Indian equity market. (Positive)
Citi on India Strategy: Good ‘beats’ in Industrials and Discretionary, which saw strong growth (Positive)
JPMorgan on India Strategy: Continue to prefer longer-term capex story via Industrials, Real Estate and Financial sector. Upgrade Consumer Staples to overweight (Positive)
JPMorgan on India Strategy: Downgrade Auto to neutral (Neutral)
Bank of America India Strategy: Nifty earnings +3% YoY; ex-Financials/Energy +19% YoY (Neutral)
CLSA on Steel: India initiates anti-dumping investigation against imports from Vietnam (Neutral)
JP Morgan on LTTS: Maintain Overweight on Company, cut target price at Rs 5500/Sh (Neutral)
JP Morgan on Cyient: Maintain Overweight on Company, cut target price at Rs 2100/Sh (Neutral)
JP Morgan on Tata Tech: Maintain Underweight on Company, cut target price at Rs 750/Sh (Neutral)
JP Morgan on Tata Elxsi: Maintain Underweight on Company, target price at Rs 5700/Sh (Neutral)
Kotak on Voltas: Maintain Sell on Company, target price at Rs 1100/Sh (Neutral)
CLSA on Voltas: Maintain Underperform on Company, target price at Rs 1310/Sh (Neutral)
ICICI on Mazdock: Maintain Sell on Company, target price at Rs 1165/Sh (Neutral)
- August 19, 2024 08:40
Stock market live today: Tech Query: What is the outlook for Rail Vikas Nigam, Indo Count Industries (ICIL) and Tarsons Products?
We zoom in on the prospects of Rail Vikas Nigam, as also the prospects of two other stocks — Indo Count Industries (ICIL) and Tarsons Products
- August 19, 2024 08:39
Currency market updates: Currency Outlook: Dollar at a very crucial support
The dollar index is struggling to get a strong follow-through rise. The strong bounce from the low of 102.27 last week failed to sustain. The index had turned down sharply from around 103.2. It closed the week on a negative note at 102.46, down 0.65 per cent.
- August 19, 2024 08:38
Stock market live today: Stock ideas: Stocks that will see action this week
Here is what the charts say about the shares of EPL, Jindal Stainless and Zydus Lifesciences
- August 19, 2024 08:36
Stock market live today: Stock idea: Nesco: Why this MICE player is a worthy small-cap bet
The opening up of the economy in the aftermath of the Covid pandemic has seen a phenomenal revival in many industries. Hospitality and realty segments are two such beneficiaries whose fortunes have headed northward for the past three years.
- August 19, 2024 08:34
Stock market live Today: Stock Idea - Just Dial: Why investors can stay connected
The stock of Just Dial has had a good run this year with YTD returns of close to 60 per cent. This has been on the back of consistent progress in operating performance in the last 3-4 quarters. In our bl.portfolio edition dated February 13, 2022, we had recommended that investors with a long-term perspective accumulate the stock when it was trading around ₹840.
- August 19, 2024 08:33
Stock market live today: Index Outlook: Benchmark indices get a breather
Sensex and Nifty 50 made a sharp rise on Friday after being range-bound all through the week. The strong close on Friday has reduced the danger of the corrective fall that we had cautioned last week. The Nifty Bank index is also managing to stay afloat. The index is getting strong support around 49,650 over the last couple of weeks. On the charts, the short-term picture is positive.
- August 19, 2024 08:32
Stock market live today: What’s in store for fertilizer and agri stocks?
One theme that has managed to outperform the broader market by a significant margin over the past year is agri-inputs. Stocks of many companies that manufacture agri-inputs such as fertilizers and agrochemicals have delivered healthy returns over the last 12 months. Is there still steam left?
- August 19, 2024 08:28
Commodities market updates: Silver firm at $28.91
Silver prices remained stable as the dollar index hovered around 102.4, pressured down by predictions that the Federal Reserve may need to cut borrowing costs shortly to avoid an economic downturn. Chicago Fed President Austan Goolsbee stated that the US labour market and certain key economic indicators are sending danger signals, citing growing credit card delinquencies. Weaker-than-expected US home starts statistics in July fuelled the pessimistic sentiment. Markets believe the Fed will lower interest rates by 25 basis points in September, with a greater 50-basis-point decrease still possible. Investors are now looking forward to Fed Chair Jerome Powell’s address in Jackson Hole, Wyoming, as well as the current FOMC minutes, which will be released later this week, for additional monetary policy advice.
- August 19, 2024 08:24
Commodities market updates: Gold near new high $2499
Gold prices remained near a record high set in the previous session, as increased predictions of a US interest rate decrease next month boosted bullion’s attractiveness. Data indicated that U.S. single-family homebuilding declined in July as higher mortgage rates and house prices kept prospective purchasers away, implying that inflation was slowing. Last week, solid retail sales numbers, lower-than-expected unemployment claims, and benign inflation data boosted confidence in the world’s largest economy. Traders are certain that the United States Federal Reserve will drop interest rates on September 18, and the focus is now on the extent of the reduction. According to the CME FedWatch tool, they anticipate a 75.5% possibility of a 25 basis point decrease and a 24.5% chance of a 50 basis point reduction.
- August 19, 2024 08:22
Stock market live today: Cement sector review: Muted demand and price pressure persist in Q1 FY25, says Axis Securities
In Q1FY25, the cement sector under Axis Securities’ coverage demonstrated resilience, with a slight decline in revenue, EBITDA, and APAT by 1%, 4%, and 9% YoY, respectively, contrary to the expected growth of 0%, 7%, and 4%. However, the volume growth of 5% was in line with expectations, indicating the sector’s stability. EBITDA margins decreased by 50 bps YoY and 290 bps QoQ, primarily due to lower realisations. Despite this, reduced operating costs, with a 5% YoY drop in cost/tonne, helped cushion the impact.
- August 19, 2024 08:04
Stock market live today: Sectoral insights: Q1FY25 Cement Sector Review Highlights
Axis Securities.
Financial Performance Overview
Revenue/EBITDA/APAT: Our coverage universe saw a de-growth of 1%/4%/9% YoY, contrary to our anticipated growth of 0%/7%/4%. However, the volume growth of 5% met our expectations.
EBITDA Margins: Margins declined by 50 bps YoY and 290 bps QoQ due to reduced realizations. Despite this, lower operating costs mitigated some of the impact, with cost/tonne down 5% YoY.
Realization and Costs
Realization/tonne: Decreased by 3% QoQ and 5% YoY to Rs 5,343, reflecting a widespread decline in cement prices.
Costs: Power/fuel costs softened by 23% YoY to Rs 1,041/tonne, aiding operational performance to an extent as realizations were lower during the quarter.
Sector Performance
Company Performance: JK Cement outperformed expectations, while Birla Corp, Ambuja Cement, ACC, and Heidelberg Cement fell short. Notably, new capacities were added by major players like Ultratech and Dalmia Bharat, enhancing supply capabilities.
Demand and Pricing Trends: The demand remained muted in early Q1FY25 but showed signs of recovery in June 2024. Prices have corrected, and we expect realizations to face further pressure in Q2FY25.
Outlook and Strategic Recommendations
Demand and Pricing: We anticipate that demand will strengthen post-monsoon and that non-trade demand will rise due to government project allocations. Cement prices may face challenges, with an expected decline of Rs 200-Rs 250 per tonne in Q2FY25.
Cost Trends: The reduction in power/fuel costs is a positive indicator, though it is crucial to monitor future fuel price trends and their impact on overall costs.
Long-Term View: We maintain a positive outlook on long-term demand, projecting a 7%-8% CAGR over FY23-FY26E. The key factors to watch are price realizations and input cost trends.
Top Sector Ideas
To align your investment strategy with these insights, we recommend focusing on the following stocks:
UltraTech Cement Ltd: Target Price Rs 12,400*
JK Cements Ltd: Target Price Rs 4,920*
Dalmia Bharat Ltd: Target Price Rs 2,120*
- August 19, 2024 08:03
Stock market live today: Major U.S. listed stocks result calendar 19.08.2024
Estee Lauder Companies, Inc. (Pre market) (Sector- Consumer Discretionary)
Palo Alto Networks, Inc. (Post market) (Sector- Technology)
Fabrinet (Post market) (Sector- Telecom)
Shinhan Financial Group Co Ltd (TENT) (Sector- Financial)
- August 19, 2024 08:02
Stock market live today: Economic Calendar – 19.08.2024
18:45 U.S. FOMC Member Speaks
- August 19, 2024 08:02
Stock market live today: Bonus Issue Dates
PVV Infra Ltd
Bonus issue 1:1
Previous day Closing Price – Rs. 17.79
Ex Bonus 20 Aug 2024 (Tomorrow)
Last date Trade for Before Bonus Today
- August 19, 2024 07:59
Stock market live today: IPO screener: Interarch Building issue opens at Rs 850-900 price band
Turnkey pre-engineered steel construction solution provider mopped up Rs 179.49 crore from anchor investors.
The Rs 600-crore Interarch Building Products IPO opens today for the public. It has a price band of Rs 850–900 and closes on August 21.
- August 19, 2024 07:53
Stock market live today: Opening Bid: Sensex, Nifty poised for positive start amid mixed global cues
Domestic markets are expected to open on a positive note despite mixed global cues. Trading at Gift City indicates a gap up opening 80 points. As there are no key domestic triggers (result season and RBI meet—major events are over), only global sentiment will anchor the market movement, said analysts.
- August 19, 2024 07:50
Stock market live today: Stocks that will see action today: August 19, 2024
Buzzing stocks: Maruti Suzuki, Oil companies, Hero MotoCorp, Caplin Point, Mphasis, DCX Systems, Macrotech, Kolte Paul, CESC, Jubilant Pharmova, Vedanta, HZL, Electronics Marts, Samvardhana
- August 19, 2024 07:37
Stock market live updates: Vipul Bhowar, Director Listed Investments, Waterfield Advisors, on FPI flows
“The FPI outflows witnessed on August 24 were primarily driven by a combination of global and domestic factors. Globally, concerns about the unwinding of the Yen carry trade, potential global recession, slowing economic growth, and ongoing geopolitical conflicts led to market volatility and risk aversion. Domestically, after being net buyers in June and July, some FPIs might have chosen to book profits following a strong rally in previous quarters. Additionally, mixed quarterly earnings and relatively higher valuations have made Indian equities less attractive. Despite these factors, India’s strong economic performance, including GDP growth, reduced fiscal deficit, manageable current account deficit, and strong sector growth and industrial production, continues to attract many FPIs, indicating that FPI flows into India should persist.”
- August 19, 2024 07:36
Stock market live today: Study on Corporate Performance for Q1-FY25 by Aditi Gupta, Economist, Bank of Baroda
Aditi Gupta, Economist, Bank of Baroda.
Main highlights are:
- There is an improvement in sales growth to 7.7% in Q1 FY25 compared with a growth of 2.3% in Q1 FY24.
- After increasing by over 30% in Q1 FY24, growth in both PBT and PAT decelerated sharply to low single-digits in Q1 FY25.
- In Q1 FY25, the ICR declined marginally to 5.76 from 5.97 in Q1 FY24. Despite the moderation, the ICR remains at comfortable levels.
- On the positive side, green shoots were visible in rural demand with FMCG, 2-wheeler and tractor sales picking up. A normal monsoon will further aid this recovery.
- Traction was also seen in industries such as textiles, chemicals and paper products.
- On the other hand, crude oil, cement and iron and steel industries were a major drag on the overall performance.
- August 19, 2024 07:35
Today’s Corporate Action: 19th Aug Ex Date
MANINFRA
Interim Dividend - Rs. - 0.4500
ACE
Final Dividend - Rs. - 2.0000
CLSEL
Buy Back of Shares
DRAGARWQ
Final Dividend - Rs. - 2.5000
EXPLICITFIN
E.G.M.
RELIANCE
Final Dividend - Rs. - 10.0000
- August 19, 2024 07:34
Stock market live updates: Today’s Key Results/Board Meetings: 19-Aug-24
ARYAN
General;Rights Issue
EASTINDIA General
GREENCREST
General
HITECH
Preferential Issue of shares;General
INDTERRAIN
Preferential Issue of shares;General
MAGNAELQ
General
SRESTHA
General
SURAJEST
Preferential Issue of shares
- August 19, 2024 07:31
Stock under F&O ban on NSE: 19-Aug-24
1 AARTIIND
2 ABFRL
3 BANDHANBNK
4 BIOCON
5 CHAMBLFERT
6 GNFC
7 GRANULES
8 INDIACEM
9 INDIAMART
10 LICHSGFIN
11 MANAPPURAM
12 NMDC bh
13 PEL
14 PNB
15 RBLBANK
16 SAIL
17 SUNTV
- August 19, 2024 07:30
Stock market live today: Urja Global announces pre-launch of High-Speed Electric Scooter “CHETNA” with HOMOLOGATION CERTIFICATE and RTO Registration
Building on its successful history as a manufacturer of low-speed scooters in the non-RTO segment, Urja Global Limited now enters the high-speed electric scooter market withCHETNA, a model that is fully compliant with RTO registration requirements.
The newly pre-launched CHETNA high-speed scooter is equipped with a state-of-the-art Lithium-Ion (Li-Ion) battery, providing a remarkable range of over 100 kilometers on a single charge. Its innovative design prioritizes safety and comfort, making it an ideal choice for family commuting
- August 19, 2024 07:28
Stock market live updates: Jeena Sikho Lifecare: EMPANELMENT
Company has been Empanelled under CGHS and CS(MA) rules and notified as CGHS empanelled centres for Ayurveda at New Delhi, Rajasthan, and Haryana.
- August 19, 2024 07:28
Stock market live updates: GENUS POWER INFRASTRUCTURES: ORDER
Company’s wholly owned subsidiary has received three LoA worth INR 2,925.5 Cr for appointment of Advanced Metering Infrastructure Service Providers (AMISPs) including design of Advance Metering Infrastructure (AMI) system with supply, installation and commissioning with FMS of about 3.75 million Smart Prepaid Meters, system meters including DT Meters with corresponding energy accounting on DBFOOT basis. With these recent orders, Company’s total order book, including all SPVs and the GIC Platform, exceeds INR 24,383 Cr.
- August 19, 2024 07:27
Stock market live udpates: KPI Green Energy: FUND RAISE
BoD of KPI Green has approved the issuance and allotment of 1 Cr Equity Shares to eligible QIBs at the issue price of INR 935/each, aggregating to INR 935 Cr. Subscribers include Morgan Stanley Asia (Singapore) PTE, and Bofa Securities Europe SA.
- August 19, 2024 07:27
Stock market live today: Hyderabad Airport continues to soar with 2.2 million pax in July 2024, up 12.8% YoY
GMR HYDERABAD AIRPORT
In July 2024, Pax traffic crossed 2.2 mn Pax mark - up 12.8% YoY
Domestic Traffic ▲ 13.6% YoY
International Traffic ▲ 9.0% YoY
Pax Traffic transcending sustainably above 2 mn Pax every month since Oct 23
GOA AIRPORT
In July 2024, Pax traffic handled 0.33 mn Pax up 20.7% YoY
Domestic Traffic Up 16.3% YoY
International Traffic Up 6.4x YoY (International operations started from 21 Jul’23)
Airport Authority of India has approved shorter approach path (reduction by ~20NM) while landing at Mopa Airport, which will result in savings for airlines.
- August 19, 2024 07:25
Stock market live updates: Fund Flow Activity: 16 August 2024 (Rs. In Crs.)
Turnover: (NSE + BSE)
Cash Volume: 111622.55 + 8407.26 Total: 120029.81
F&O Volume: 563120.16 + 43238215.64 Total: 43801335.8
Provisional Cash
FII/FPI: NET BUY: +766.52
(18494.25 - 17727.73)
DII: NET BUY: +2606.18
(12795.7 - 10189.52)
- August 19, 2024 06:55
Stock market live today: F&O Tracker: Nifty futures gear up for a rally
Nifty 50 (24,541) appreciated 0.7 per cent last week, whereas Bank Nifty (50,517) wrapped up the week on a flat note. Here, we take a look at the derivatives data and give our trade plan.
- August 19, 2024 06:53
Stock market live today: F&O Query: Should you buy Britannia Industries futures?
Britannia Industries (₹5,729.65): A bounce on Friday indicates buying interest. Also, the broader trend for the stock is bullish.
- August 19, 2024 06:51
Stock market live today: Mcap: Seven of 10 valued firms add ₹1.40 lakh crore; TCS, Infosys lead gainers
The combined market valuation of seven of the top 10 valued firms jumped ₹1,40,863.66 crore in a holiday-shortened last week with the benchmark Sensex gaining nearly 1 per cent. Tata Consultancy Services and Infosys emerged as the biggest gainers in line with an optimistic trend at Dalal Street.
- August 19, 2024 06:49
Stock market live today: Today’s stock recommendations: 19 August 2024
Here’s an interesting stock idea: The stock that we have today is Havells India. The price of this scrip has been oscillating in a range since early June. Within this range, the stock has now rallied past a resistance, opening the door for further upside. Check out the latest episode of Today’s Pick to learn more.
- August 19, 2024 06:45
Stocc market live today: Watch: Nifty and Bank Nifty Prediction for the week 19 Aug’24 to 23 Aug’24
Nifty has risen well on Friday and has closed on a positive note above 24,500. That has reduced the danger of the fall below 24,000 that we had cautioned last week. #NiftyBank index is also getting strong support around 49,650. Both the #Nifty and #NiftyBank indices are likely to rise further in the short-term. The #outlook for the coming week is positive.
- August 19, 2024 06:44
Stock market live today: Inox Wind, Jubilant Foodworks, Voltas: 3 stocks that outperformed in the week ending August 16
After a slow start to the week and a nominal correction on Tuesday, a rapid recovery on Friday saw Nifty and Sensex end up with 0.7 per cent and 0.9 per cent gains respectively for the week. Sensex reclaimed 80,000 while Nifty ended up above 24,500 as the markets closed on August 16, 2024.
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