Sensex, Nifty updates on 22 August 2023- Find here all the updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for 22 August 2023.


  • August 22, 2023 16:27

    Markets end almost flat in muted trade

    Equity benchmark indices Sensex and Nifty ended almost flat on Tuesday as investors booked profits amid concerns over potential rate hikes in the US and persistent foreign fund outflows.

    The BSE gauge eked out a marginal gain of 3.94 points or 0.01 per cent to settle at 65,220.03. During the day, it climbed 146.82 points or 0.22 per cent to 65,362.91.

    The NSE Nifty inched up 2.85 points or 0.01 per cent to settle at 19,396.45.

  • August 22, 2023 16:23

    Global uncertainty, domestic disruptions may keep inflationary pressures elevated in coming months: FinMin report

    A Finance Ministry report has projected that inflation will remain elevated in coming months. It has also called for macroeconomic stability to mitigate geo political challenges.

    “While domestic consumption and investment demand are expected to continue driving growth, global uncertainty and domestic disruptions may keep inflationary pressures elevated for the coming months, warranting greater vigilance by government and the RBI,” Monthly Economic Review (MER), prepared by Economic Affairs Department said. The report was released on Tuesday.

    Read more.

  • August 22, 2023 16:05

    Rupee rises 19 paise to close at 82.94 against US dollar

    The rupee recovered from its all-time low levels and settled for the day higher by 19 paise at 82.94 (provisional) against the US dollar on Tuesday, as the American currency retreated from its elevated levels.

    Forex traders said the rupee appreciated tracking a weak tone in the US dollar. However, selling pressure by foreign investors amid risk aversion in global markets dented sentiments.

    Read more.

  • August 22, 2023 15:59

    Greaves partners with Usha Financial for electric three-wheeler financing

    Greaves Retail’s shares were up 1.06 per cent after the company joined forces with Usha Financial Services for financing electric three-wheeler purchases.

    This partnership aims to expand the reach of financing options and streamline the process for end customers nationwide.

  • August 22, 2023 15:59

    Government approves further increase in price of ethanol

    Government has approved further increase in price of ethanol made from rice and maize by additional Rs 3.71/litre with immediate effect, which is the second hike this month after the ethanol rates were increased from August 7.

  • August 22, 2023 15:58

    Pyramid Technoplast IPO has been subscribed 17.88 times

    Pyramid Technoplast IPO has been subscribed 17.88 times as of 3:48 pm on August 22, 2023. The QIB portion has been subscribed 9.94 times; NII portion 32.08 times; and retail 14.11 times.

    The issue closes today.

  • August 22, 2023 15:57

    Aeroflex Industries IPO has been subscribed 5.23

    Aeroflex Industries IPO has been subscribed 5.23 times as of 3:45 pm on the opening day. The QIB portion has been subscribed 1.10 times; NII portion 9.91 times; retail 5.60 times; and reserved portion shareholder at 2.24 times.

  • August 22, 2023 15:56

    A delegation of SEA of India will be visiting Thailand tomorrow

    A delegation of Solvent Extractors’ Association (SEA) of India will be visiting Thailand tomorrow to explore the potential for collaboration with palm oil industry in Thailand. At present, oil palm plantations in Thailand yield 3.2-3.5 million tonnes (mt) annually.

    Of this, 1.2 mt caters to the domestic needs of Thailand, and an additional 1.2-1.5 mt fuels Thailand’s 7 per cent bio-diesel blend. Around 1 mt of palm oil is exported to India. This constitutes a substantial 15 per cent of India’s total palm oil imports.

  • August 22, 2023 15:55

    BIRLASOFT: CO Has ongoing litigations with indian tax authorities amounting to 130 crs

  • August 22, 2023 15:53

    S&P BSE Indices has officially announced the rescheduling of Jio Financial’s exclusion from August 23 to August 28 2023

  • August 22, 2023 15:30

    Madhav Infra receives letter of acceptance for construction of railway over bridge

    Madhav Infra Projects Ltd has received letter of acceptance for construction of railway over bridge in lieu of level crossing No. 47 /SPL on Gun a Ashoknagar Road in district Ashoknagar from Office Of The Executive Engineer Public Work Department Bridge Construction Division 52-Chanayakapuri, Sachin Tendulkar Marg, Gwalior (M.P), valued approx ₹21 crore.

  • August 22, 2023 15:28

    GAIL (India) stock trades at ₹116.85, higher by 2.14% on the NSE.

  • August 22, 2023 15:16

    Stock market live update: Shares Navneet Education Ltd inches up by 0.91%

    Navneet Education Ltd has said in a regulatory filing about redemption of commercial paper amounting of ₹50 crore. The stock inches up by 0.91% on the NSE, and trades at ₹155.75.

  • August 22, 2023 15:11

    Here is how you can track NPS investments through Consolidated Account Statement

    Investors can track their mutual fund holdings and demat securities in the consolidated account statement (CAS) provided by NSDL and CDSL. Now, National Pension System (NPS) subscribers also have the option to stay informed on their NPS investments through CAS. This newly-launched facility will help investors track their financial assets, as envisioned by the Government.

    Let us find out how you can track the NPS corpus and charges involved with this facility.

  • August 22, 2023 15:10

    Tamilnad Mercantile Bank stock falls by 4.35% on the NSE, trading at ₹547.Tamil 40.

  • August 22, 2023 15:10

    Shares of Concord Biotech up by 4.47%

    Concord Biotech informed the exchanges that the USFDA had conducted an inspection at Company’s manufacturing unit III, at Kheda district, Gujarat. The company has received the Establishment Inspection Report (EIR) indicating closure of inspection and classifying the facility as no action indicated (NAI).

    The stock trades at ₹995.10, up by 4.47% on the NSE.

  • August 22, 2023 15:08

    Stock market live update: Major gainers and losers on the NSE at 3 pm

    Major gainers: Adani Enterprises (2.25%); HDFC Life Insurance (1.61%); NTPC (1.28%); ITC (1.27%); SBI Life Insurance (0.95%)

    Major losers: Jio Financial (-5%); BPCL (-1.43%); Cipla (-0.88%); TCS (-0.71%); Bajaj Finance (0.60%)

  • August 22, 2023 15:03

    Stock market live update: Stocks advanced on BSE at 3 pm

    Stocks advanced on BSE at 3 pm on August 22 were 2,169 against 1,455 stocks that declined.

    Total stocks traded were 3,757. The number of stocks that recorded a 52-week high was 244, and those that hit a 52-week low was 36.

  • August 22, 2023 14:59

    Shares of Panacea Biotec Ltd rises by 5.04%

    Panacea Biotec Ltd informed the exchanges that the US delegation led by Ambassador to India, Eric Garcetti; Assistant Secretary for Global Affairs, HHS, Loyce Pace and HHS Health Attache Genessa Giorgi visited Panacea Biotec R&D Centre, Developing Novel Tetravalent Dengue Vaccine “DengiAIl” at New Delhi.

    The stock rises by 5.04% on the NSE, trading at ₹139.55

  • August 22, 2023 14:56

    Aluminium futures: Might rally to touch ₹204

    Aluminium futures on the Multi Commodity Exchange (MCX), which has been on a decline since February, started to consolidate towards the end of June. Since then, it has been oscillating between ₹196 and ₹204.

  • August 22, 2023 14:55

    Stock market live update: Marksans Pharma: CO Receives USFDA approval for Quaifenesin extended-release tablets (OTC) (supportive for stock prices)

  • August 22, 2023 14:53

    Uncertainties to hog OMCs: Swarnendu Bhushan - Co-Head of Research, Prabhudas Lilladher Pvt Ltd

    Quick Pointers:

    • Refining margins anticipated to improve on the back of rising Singapore GRMs and discounted Russian crude benefit; however windfall taxes to limit the gains.
    • Already weak marketing margins likely to remain a concern amidst upcoming elections and uncertainty in crude prices.

    Oil Marketing Companies (OMCs) reported a super normal profit of Rs 305 bn in 1QFY24, but failed to cheer up investors as the fate of OMCs remains tied to uncertain oil prices and inability to pass on prices to end consumers amidst upcoming elections. Due to rise in benchmark petrol and diesel prices, gross marketing margins of petrol and diesel stand at Rs5.5/-0.7/lit in Aug’23 till date compared with Rs10/12.7/lit in 1QFY24 and Rs10.1/7.4/lit in Jul’23. A rise of USD1/bbl affects gross marketing margins by ~50p/lit. Crack spreads of petrol and diesel, nonetheless have been rising from USD12.3/14/bbl in 1QFY24 to USD12.5/20.3/bbl in Jul’23 and USD13.4/30.2/bbl in Aug’23 till date, which would benefit their refining segment.

    HPCL, BPCL and IOCL are trading at 0.9/1.2/0.8x FY24 PBV vs 10-year average of 0.9/1.5/0.7x. We do not see any respite in the companies due to above mentioned concerns over the near term. Accordingly, we recommend ‘Hold’ rating on all the stocks. Given highest marketing leverage, we value HPCL at 0.8x FY25 PBV with target price of Rs263. BPCL has witnessed de-rating due to continued delays in its upstream portfolio, so we value it at 1.1x FY25 PBV with a target price of Rs353. We value IOCL at 0.8x FY25 PBV and target price of Rs 97.

  • August 22, 2023 14:51

    Stock market live update: Info Edge reported Q1 net profit ₹199.9 crore

    Info Edge (India) reported its net profit for the quarter ended June 2023 at ₹199.9 crore as against ₹148.4 crore in the previous year.

    The stock trades at ₹4,171.75, down by 0.36% on the NSE.

  • August 22, 2023 14:44

    Stock market live update: Tega Industries stock tumbles by 4.63% on the NSE, trading at ₹955.75

  • August 22, 2023 14:43

    Pyramid Technoplast IPO has been subscribed 13.71 times

    Pyramid Technoplast IPO has been subscribed 13.71 times as of 2:27 pm on August 22, 2023. The QIB portion has been subscribed 2.61 times; NII portion 24.36 times; and retail 12.11 times.

    The issue closes today.

  • August 22, 2023 14:42

    Stock market live update: Top Nifty Bank stocks

    AU Small Finance Bank​ (2.26%)

    IDFC First Bank​ (2.17%)

    Federal Bank​ (1.27%)

  • August 22, 2023 14:09

    Jindal Worldwide e-vehicle dealer network

    Jindal Worldwide said it has appointed a 50-dealer network for electric vehicle sales and market reach. The company says the aim is to start commercial production by the year-end

  • August 22, 2023 14:00

    Stock Market Update at 2 pm: Sensex trades 69 points higher at 65,285; Nifty up 22 points at 19,415

  • August 22, 2023 13:53

    Multi-specialty hospital chain, Jupiter Life Line Hospitals gets SEBI nod for IPO

    Mumbai-based hospital chain Jupiter Life Line Hospitals is among the key multi-specialty tertiary and quaternary healthcare providers in the Mumbai Metropolitan Area (MMR) and western region of India with a total bed capacity of 1,194 hospital beds across three hospitals as of December 31, 2022

    has received final observation from the capital markets regulator, Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO). The company had filed preliminary IPO papers with Sebi on May 10, 2023.

    The issue with a face value of Rs 10 per equity share consists of a fresh issue of equity shares worth up to Rs 615 crore and an offer-for-sale (OFS) of up to 4.45 million equity shares by Promoter Group and other selling shareholders.

  • August 22, 2023 13:50

    Share Market Today: Newgen Software secures ₹8 crore order order; stock surges 7.15%

    Newgen Software Technologies Ltd has received an international purchase order worth $9,90,000 (approx ₹8 crore) for the License Product, implementation and support services. The stock jumps 7.15% on the NSE, trading at ₹980.50.

  • August 22, 2023 13:44

    Commodities: No plans to raise maximum wheat purchase limit at FCI auction, confirms CMD

    There is no plan to increase the maximum quantity of wheat each bidder can buy from FCI auction from current 100 tonnes per auction, said FCI’s CMD Ashok K Meena

  • August 22, 2023 13:42

    Commodities: No Government-to-Government wheat imports planned: official

    There is no plan to import wheat under government to government plan from any country, Chopra said.

  • August 22, 2023 13:40

    Aeroflex Industries IPO subscription details

    Aeroflex Industries IPO has been subscribed 3.73 times as of 1:33 pm on the opening day. The QIB portion has been subscribed 1.04 times; NII portion 6.75 times; retail 3.99 times; and reserved portion shareholder at 1.59 times. .

  • August 22, 2023 13:39

    Commodities: Govt aims for higher rice procurement target of 52.1 mt for 2023-24

    Govt sets rice procurement target higher at 52.1 mln tonnes for 2023-24 (Oct-Sept), against target of 51.9 mln tn current season, said Food secretary Sanjeev Chopra. Actual procurement is 49.6 mln ton rice till now this season.

  • August 22, 2023 13:38

    Commodities: Aluminium futures: Might rally to touch ₹204

    Aluminium futures on the Multi Commodity Exchange (MCX), which has been on a decline since February, started to consolidate towards the end of June. Since then, it has been oscillating between ₹196 and ₹204.

  • August 22, 2023 13:31

    India’s banking system liquidity slips into deficit first time in FY24

    India’s banking system liquidity has slipped into deficit for the first time this financial year after the Reserve Bank of India’s temporary liquidity withdrawal move and tax outflows.

  • August 22, 2023 13:28

    J&K sees surge in stock market investors

    There has been a 34.6 per cent increase in the number of stock market investors in Jammu and Kashmir over the past year, while the increase was 88.02 per cent in the newly formed Union Territory of Ladakh, according to a recent report from BSE.

  • August 22, 2023 13:10

    Share Market Today: Paytm shares rise 2.44% on NSE; CEO Sharma highlights AI investment

    Shares of One 97 Communications (Paytm) trade at ₹858.40, higher by 2.44% on the NSE. The founder and CEO Vijay Shekar Sharma in a letter to shareholders said that the company is “investing in AI with an eye on building Artificial General Intelligence software stack.”

  • August 22, 2023 13:01

    Pyramid Technoplast IPO subscription details

    Pyramid Technoplast IPO has been subscribed 10.95 times as of 12:50 pm on August 22, 2023. The QIB portion has been subscribed 1.60 times; NII portion 17.93 times; and retail 10.39 times. The issue closes today.

  • August 22, 2023 13:00

    Stock in focus: Suzlon Energy stock jumps 4.77% on the NSE, trading at ₹20.85.

  • August 22, 2023 13:00

    Q1 FY24 analysis: Revenue decline continues, stable margins amid sectoral challenges, says Ind-Ra

    The 1QFY24 analysis results of 3,323 listed companies highlights a continued yoy fall in revenue growth, a declining trend in coverage indicators and steady operating margins across most sectors. The pressure on revenues largely stems from the sharp fall in inflation, global influences affecting exports and normalisation of post-pandemic demand. While the fall in general price levels affected the top line growth, the correction in principal raw materials prices appears to have aided margins for the companies facing a demand disruption. Despite an overall robust corporate risk profile, sectors such as textiles, construction materials, infrastructure, chemicals, and non-ferrous metals are undergoing deterioration in credit profiles due to global economic pressures, large debt-funded capex among large entities, and rapidly increasing interest rates.

    - India Ratings and Research (Ind-Ra) analysis

  • August 22, 2023 12:57

    ICRA forecasts GDP growth to reach 8.5% in Q1 FY24, fuelled by post-pandemic recovery

    ICRA has projected the year-on-year (YoY) growth of the GDP to improve to 8.5% in Q1 FY2024 from 6.1% in Q4 FY 2023, boosted by the supportive base of Q1 FY2023, which saw the Indian economy normalising after the Covid-19 pandemic. The GVA growth is seen at 8.1% in Q1 FY 2024 (+6.5% in Q4 FY2023), driven by the recovery in the services sector (+9.7% vs. +6.9%), even as improved margins are likely to have shielded the industry (+7.3% vs. +6.3%) from weak external demand, with a relatively lower growth foreseen in agriculture (+4.0% vs. +5.5%).

  • August 22, 2023 12:53

    Stock Market Today: Sensex and Nifty maintain narrow range in subdued session

    In a relatively subdued trading session, the Sensex and Nifty have maintained a narrow range during the mid-day hours. As of 12:45 pm, the Sensex has advanced by 95 points, reaching 65,311, while the Nifty has gained 31 points, reaching 19,425.

    Among the sectoral indices, barring Nifty IT, Pharma, and PSU Bank, all others are recording minor gains.

    Among individual stocks, HDFC Life, Adani Enterprises, SBI Life, NTPC, and ITC are showing positive momentum with gains of up to 3 percent.

    On the flip side, Jio Financial Services, Cipla, TCS, BPCL, and TechMahindra have registered the most notable losses.

  • August 22, 2023 12:42

    Stock to Watch: Mahindra Lifespace sets multi-fold growth target, shares rise

    Mahindra Lifespace Developers’ shares were up 6.85 per cent as the company is aiming for a five-time increase in business over the next five years. Under new CEO Amit Sinha, the company is targeting sales of Rs 10,000 crore by FY28, up from the current Rs 2,268 crore.

  • August 22, 2023 12:40

    Stock to Watch: Exide Energy plans to double production capacity in Karnataka

    Battery maker Exide Energy intends to double its production capacity and is seeking additional 40 acres of land.

    The company has already undertaken the work of setting up a lithium battery cell plant at Devanahalli, near Bengaluru.

  • August 22, 2023 12:39

    Bank Nifty prediction today — August 22, 2023: Index consolidating in a range

    Bank Nifty index opened at 44,125 today versus yesterday’s close of 44,002. It has moderated a bit after opening and is hovering around 44,080, up by one-fifth of a per cent after the first hour of trade.

  • August 22, 2023 12:36

    Nafed and NCCF commence onion procurement in Maharashtra and MP; historic purchase price of Rs 24.10/kg

    Nafed, NCCF starts onion procurement in Maharashtra, MP from today.

    The purchase price has been fixed at Rs 24.10 a kg for today and selling rate will be Rs 25/kg. The subsidy will be paid by Centre as agencies will further incur expenses on logistics, transport over and above procurement price.

    The onion farmers need not worry about export duty as the current purchase price is historic, said Food and Commerce Minister Piyush Goyal.

  • August 22, 2023 12:35

    Stock to Watch: Geaves Retail, Usha Financial tie up to transform electric three-wheeler financing

    Geaves Retail, the retail unit of Greaves Cotton Ltd., has partnered with Usha Financial Services Ltd. to revolutionise customer financing within the electric three-wheeler segment. Greaves Cotton stock inches up by 0.64% on the NSE, trading at ₹133.60.

  • August 22, 2023 12:17

    Alembic Pharma and Aurobindo Pharma recall US market products over manufacturing lapses

    Alembic Pharmaceuticals and Aurobindo Pharma has recalled different products in the US market due to manufacturing lapses, according to USFDA. US-based subsidiary of Alembic Pharmaceuticals recalled 82,400 bottles of Tobramycin Ophthalmic Solution in the American market.

    New Jersey-based Alembic Pharmaceuticals Inc recalled the affected lot (0.3 per cent, 5ml bottle) due to “Failed Impurities/Degradation Specifications.” The stock trades at ₹765 on the NSE, down by 1.32%.

    US-based arm of Aurobindo Pharma is recalling 48 bottles of Rufinamide Tablets, (200 mg, packaged in 120-count bottle), due to cGMP (current good manufacturing practice) deviations, according to USFDA. The stock declines by 2.50% on the NSE, trading at ₹832.05.

  • August 22, 2023 12:15

    Nifty today: Major gainers and losers at noon

    Major gainers on the NSE at 12 noon:

    HDFC Life Insurance (3.61%); Adani Enterprises (1.84%); SBI Life Insurance (1.59%); NTPC (1.42%); Bajaj Finance (1.20%)

    Major losers: Jio Financial (-5%); Cipla (-0.95%); TCS (-0.63%); BPCL (-0.58%); Tech Mahindra (-0.44%)

  • August 22, 2023 12:14

    Commodities: Soybean inventory to touch 32 lakh tn due to high imports

    Soybean carry forward stocks into the upcoming oil year 2023-24, starting October, are expected to touch an all-time high of 32.01 lakh tonnes on back high imports of the oilseed.

    The Soyabean Oilseeds Processors Association of India (SOPA), a trade organisation, foresees a heightened import volume of soybean, reaching about 5.5 lakh tonnes during the ongoing oil year 2022-23. This figure is notably higher than the initial projection of 2 lakh tonnes.

    Currently, about 5 lakh tonnes of soybean have already been imported. It is anticipated that an additional 50,000 tonnes might be imported. Consequently, the carryforward stocks by end of the oil year 2022-23 are expected to be notably higher at 31.01 lakh tonnes, in contrast to the 25.15 lakh tonnes recorded during the same period the previous year.

  • August 22, 2023 12:03

    Sensex today: Stocks advance-decline ratio at noon

    Stocks advanced on BSE at 12 noon on August 22 were 2,279 against 1,212 stocks that declined. Total stocks traded were 3,629. The number of stocks that recorded a 52-week high was 220, and those that hit a 52-week low was 27.

  • August 22, 2023 12:02

    Stock in Focus: Dilip Buildcon’s JV declared L-1 bidder for ₹1275.30 crore project; stock rises 1.77%

    Dilip Buildcon Ltd has informed the exchange that the company through joint venture, Patel Engineering Ltd, has declared as L-1 bidder for the tender floated by the Madhya Pradesh Jal Nigam, Ujjain, Madhya Pradesh. The project cost is ₹1275.30 crore. The stock rises by 1.77% on the NSE, trading at ₹310.35.

  • August 22, 2023 12:00

    Share Market Today: Welspun Enterprises gains 1.71% on BSE after acquiring majority stake in MEPL

    Welspun Enterprises stock trades at ₹315, higher by 1.71% on the BSE. The infrastructure development arm had acquired 50.10% stake in Michigan Engineers Private Limited (MEPL), a technology-based EPC company in the urban water infrastructure segment, from the existing shareholders for an equity investment of ₹137.07 crore.

  • August 22, 2023 11:54

    Sectoral Analysis: Robust Q1FY24 demand in residential real estate; pricing and sales growth varied across regions

    Kotak Institutional Equities

    Sales momentum sustains, seasonal weakness visible

    Residential real estate demand remained robust in 1QFY24, with pre-sales of 234 mn sq. ft (up 19% yoy, down 7% qoq)—the sequential moderation was on expected lines as 4Q is generally the strongest quarter. Pricing was robust, with an average realization of Rs7,200/sq. ft (up 11% yoy, down 2% qoq). Bengaluru led sales growth in 1QFY24, with 21% yoy and 1% qoq growth, followed by NCR (up 25% yoy, down 33% qoq) and MMR (up 9% yoy, down 7% qoq). Among our coverage players, Lodha, Prestige and Sobha delivered strong growth, while Oberoi and Godrej were weak. We remain constructive on the sector, though the recent stock rally limits upside, making us more selective.

    In the meantime, the Nifty Realty index advanced by 0.73 percent on Tuesday, driven by a notable surge of over 5 percent in Mahindra Lifespace.

  • August 22, 2023 11:51

    Shiva Pharmachem files DRHP for Rs 900 crore IPO with promoter shareholders’ offer for sale

    Vadodara-based Shiva Pharmachem , the largest manufacturer of acid and alkyl chlorides, by volume, in CY 2022 in India and a key player globally, with over 2 decades of experience in the Indian specialty chemicals business has filed its Draft Red Herring prospectus (DRHP) with capital market regulator Sebi to raise funds through for its initial public offering (IPO).

    The IPO with a face value of Rs 2 each is entirely an offer for sale (OFS) of up to Rs 900 crore by Promoter and Promoter Group Selling Shareholders.

    The offer for sale comprises of up to Rs 383 crore by Vishal Rakesh Agrawal, up to Rs 383 crore by Rahul Rakesh Agrawal, and up to Rs 134 crore by Geetganga Investment Private Limited.

  • August 22, 2023 11:50

    Block trade: Aegis Logistics

    Aegis Logistics: Rs 14.03 Crore NSE Block Trade for Approximately 400,257 Shares at Rs 350.5

  • August 22, 2023 11:48

    Stock in Focus: SJS Enterprises stock rises by 4.26% on the NSE, trading at ₹647.20.

  • August 22, 2023 11:48

    Stock in Focus: Tata Power stock up 0.46% as TPREL inks green energy deal with Tata Motors

    Tata Power stock trades at ₹240.45, up by 0.46% on the NSE. The company’s subsidiary Tata Power Renewable Energy Limited (TPREL) had signed a PPA (power purchase agreement) to supply 9 megawatt of green energy to Tata Motors’ plant in Pantnagar, Uttarakhand.

  • August 22, 2023 11:46

    Share Market Today: Coffee Day Enterprises shares rise 3.39%; NFRA imposes fines for audit lapses

    Shares of Coffee Day Enterprises rises by 3.39% on the NSE, trading at ₹42.75. The National Financial Reporting Authority (NFRA) has imposed fines totalling ₹1.10 crore on three entities, including two individual auditors, in connection with lapses in auditing of Tanglin Developments Ltd (TDL), a subsidiary of Coffee Day Enterprises Ltd (CDEL), pertaining to diversion of funds worth ₹3,535 crore from seven subidiaries of CDEL to Mysore Amalgamated Coffee Estate Ltd (MACEL).

    Besides, the auditing firm -- Sundaresha & Associates -- and the two auditors -- C Ramesh and Chaitanya G Deshpande -- have been barred from taking up auditing work for varying periods. - PTI

  • August 22, 2023 11:18

    Stock in Focus: Ramkrishna Forgings stock up 1.48% as JMT Auto acquisition progresses

    Ramkrishna Forgings ​stock trades at ₹658.85, higher by 1.48% on the NSE. The company had announced that its plan to acquire JMT Auto had been approved ‘verbally’ by the principal bench of the National Company Law Tribunal.

  • August 22, 2023 11:15

    Stock in Focus: Omega TC Sabre Holdings and Tata Capital sell Shriram Properties shares

    Omega TC Sabre Holdings and Tata Capital Financial Services have disposed-off equity shares of Shriram Properties Ltd (SPL) by way of multiple on-market transactions resulting in aggregate change of shareholding in excess of 2% of total shareholding or voting rights in SPL.

  • August 22, 2023 11:12

    Share Market Today: Zomato Stock climbs over 4% following battery-swapping partnership

    Zomato stock surges by 4.01% on the NSE, trading at ₹93.35. The food ordering and delivery platform had partnered with Battery Smart to provide battery-swapping access to its delivery partners on the latter’s network.

    Under the partnership, Zomato’s delivery partners can get access to Battery Smart’s existing network of over 800 swap stations across more than 30 cities, the company said in a statement.

  • August 22, 2023 11:09

    Technicals: Nifty prediction today — August 22, 2023: Range-bound. Stay out of the market

    Nifty 50 and Sensex are trading flat. They opened with a gap-up and rose initially but did not sustain. Nifty made a high of 19,443 and has since fallen. It is currently trading at 19,413, up 0.11 per cent.

  • August 22, 2023 11:04

    Sensex Today: Top gainers/losers at 11 am

    Major gainers and losers on the BSE at 11 am:

    Gainers: Everyday Industries (9.11%); India Glycols (7.45%); Paradeep Phosphates (7.11%); NBCC (6.62%); General Insurance Corporation (6.59%)

    Losers: Llyods Metals (-3.67%); Hemisphere Properties (-3.40%); Jindal Saw (-2.18%); JCHAC (-1.97%); TCNS Clothing (-1.94%)

  • August 22, 2023 11:00

    Stock Market Today @ 11 am: Nifty up 20 points at 19,413 and Sensex gained 50 points to trade at 65,266

  • August 22, 2023 10:58

    Acuité’s AMEP Index signals Indian economic slowdown amid global uncertainty

    “Acuité Macroeconomic Performance Index (AMEP index) provides some signals of a slowdown in the Indian economy from the month of July. While a sequential drop in the index can be largely attributed to the seasonality factor in Q2 of the fiscal, the uptick YoY has turned moderate. The slowdown in China and the overall global uncertainty have started to impact the growth momentum despite the overall domestic demand resilience. GDP growth in the first quarter (Q1FY24) is set to be strong at around 7.5% YoY, partly driven by the favourable base but the growth print is likely to be 150-200 bps lower in the subsequent quarters. We hold to our forecast of 6.0% for FY24 for now.”

    - Suman Chowdhury, Chief Economist & Head - Research, Acuité Ratings & Research Ltd

  • August 22, 2023 10:56

    Chavda Infra wins new orders worth Rs 165 crore; Files DRHP for IPO

    Chavda Infra Limited, a civil construction company offering a diversified range of construction and allied services across residential, commercial and institutional projects in Gujarat, announced new order wins totalling Rs. 165 crore. The company with its core focus on TRI-City (Ahmedabad, Gandhinagar and GIFT City) region, won three orders – comprising two commercial (Trogon & Centroid) projects in Ahmedabad and one residential (Avani Aayam) project in Gandhinagar. The Trogon project, valuing Rs. 127 crore, emerged among the largest individual orders received by the company.

    The company filed its Draft Red Herring Prospectus (DRHP) with NSE Emerge for its proposed initial public offering (IPO). The IPO comprises the issue of 66.56 lakh Equity Shares (Face Value Rs 10/-) through the book-building route. The company has appointed Beeline Capital Advisors Private Limited as Book Running Lead Manager to the Issue.

  • August 22, 2023 10:54

    Share Market Today: Yuken India stock jumps 15.36% on the NSE, trading at ₹699.50.

  • August 22, 2023 10:53

    Stock to Watcch: GRM Overseas introduces “10X Shakti” brand with diverse packaged products

    GRM Overseas Ltd has launched its packaged products – Besan, Daliya, Maida, Poha and Sooji under the “10X Shakti” Brand under its subsidiary company GRM Foodkraft Private Limited. The stock trades at ₹172.85, down by 0.49% on the NSE.

  • August 22, 2023 10:48

    Faze Three stock surges 10.85% on NSE

    Faze Three stock surges by 10.85% on the NSE, trading at ₹405.15. The company’s wholly-owned subsidiary Mats and More Pvt Ltd. recently acquired an existing factory premises from Basell Polyolefins India Pvt Ltd., situated at Aurangabad.

  • August 22, 2023 10:46

    Paper companies raise prices, set to gain in festive season

    Paper companies have increased prices by ₹1,000-3,000 a tonne since August 10. This is the first hike after prices were cut in June this year. Paper companies are set to gain with festive demand seen pushing up demand. The industry views the trend as bottoming out of its products prices.

  • August 22, 2023 10:45

    Spices complex on NCDEX mixed

    The spices complex on NCDEX was mixed with near-month and far-month contracts behaving differently. Dhaniya (coriander) October contracts gained ₹22 at ₹7,560 a quintal. Jeera (cumi) is facing profit-booking with September and October contracts plunging by ₹670 and ₹455 a quintal, respectively. September jeera contracts ruled at ₹58,550 and October at ₹59,935. Turmeric October futures gained ₹112 a quintal, but December contracts dropped by ₹54. Turmeric October contracts were quoted at ₹16,110 a quintal. December contracts ruled at ₹17,000.

  • August 22, 2023 10:43

    Top Nifty Realty stocks

    Mahindra Lifespace Developers (7.55%)

    Sobha (1.19%)

    Prestige Estates (1.17%)

    Oberoi Realty (1.10%)

  • August 22, 2023 10:43

    Strong performance over last 6 months has led to re-rating of NBFCs: JM Financial

    JM Financial Sector Update: NBFCs

    In 1QFY24, our NBFC coverage universe reported 45 per cent YoY growth in PAT led by 19 per cent YoY AUM growth, 25 per cent YoY PPOP growth. NII was up 24 per cent YoY for the coverage universe. NIMs though exhibited mixed trends – NBFC-MFIs saw an expansion in NIMs (with 47bps QoQ improvement, led by the benefit of lending rate hikes), while vehicle financiers (VFs) witnessed 37bps QoQ compression. Diversified financiers (including BAF) and AHFCs saw largely stable NIMs on a sequential basis. Large HFCs benefited with better asset yields in the quarter driving NIM uptick. Cost of funds on average was up 10bps QoQ on a sequential basis, with the highest increase seen in the diversified segment, while yields were up 25bps QoQ. Asset quality continued to improve with credit costs moderating sequentially across most players. We had previously highlighted that the NBFC stock performance was driven by the narrative of an uptrend in interest rates, even as the fundamental performance was on an upward trend over the last year. With a potential peak of interest rates in sight, NBFCs have delivered strong performance over the last 3M/6M period, which has led to a meaningful re-rating of NBFCs as a sector. In our view, easy gains from the sector are behind and we expect growth leaders to sustain the outperformance. We forecast 29 per cent earnings CAGR for our NBFC coverage universe over FY23-FY25E. Our preferred segments are diversified NBFCs, NBFC-MFIs and AHFCs. Our top picks – Bajaj Finance, Poonawalla Fincorp, Creditaccess Grameen, Fusion Microfinance, Home First Finance Co and Mahindra & Mahindra Financial Services.

  • August 22, 2023 10:36

    JM Financial positive on electrical consumer durables space from medium- to long-term perspective

    JM Financial: Electrical Consumer Durable (ECD) companies’ revenue grew by 16% YoY (+13% 4-year CAGR) in 1QFY24, largely on the back of healthy growth in the B2B segment (particularly cables), while demand environment in the B2C segment remained subdued due to a soft summer/unseasonal rains and consumption slowdown in general. Although the gross margin improved on the back of a benign RM environment, that improvement was not reflected in operating margin due to high competitive intensity, and sustained spend on long-term strategic initiatives (A&P, GTM, etc). We continue to be positive on the space from the medium- to long-term perspective given macro tailwinds (low penetration in some categories) and category expansion opportunities. Our top picks - Bajaj Electricals, and Havells

  • August 22, 2023 10:33

    Pyramid Technoplast IPO subscribed 6.42 times

    Pyramid Technoplast IPO has been subscribed 6.42 times as of 10:15 am on August 22, 2023. The QIB portion has been subscribed 1.52 times; NII portion 7.27 times; and retail 7.26 times. The issue closes today.

  • August 22, 2023 10:21

    MCX gold contracts rise to ₹58,495; silver futures at ₹71,600

    On MCX, gold October contracts increased by ₹5 at ₹58,495 per 10 gm. Silver September futures softened by ₹62 to ₹71,600 a kg.

  • August 22, 2023 10:20

    Stock to Watch: Quess Corp sees 23% surge in staffing demand ahead of festival season

    Quess Corp, India’s leading business services provider, today reported that a 23% increase in staffing requirements in anticipation of the festive period has been noted between April-August 2023 in comparison to the same period last year. As many as 32,000 jobs were posted in this period considering that BFSI, M&I, Retail, and Telecom sectors improved their hiring efforts in line with the surge in demand for the festive season in India.

  • August 22, 2023 10:18

    Commodities: Gold remains relow $1,900; silver stands at $23.28

    Gold continued to hover below $1,900 in Asian trade. At 10.15 am IST, it was ruling at $1,895.60 an ounce. Silver was quoted at $23.28 an ounce.

  • August 22, 2023 10:17

    Stock in focus: Brigade Enterprises acquires land parcel in Chennai for ₹138 crore; stock edges up

    Brigade Enterprises Limited informed in a regulatory filing that the 6.54 acres of land parcel located at Rajiv Gandhi Salai (Old Mahabalipuram Road), Sholinganallur, Chennai, was acquired from Pfizer Healthcare India Private Limited for an overall consideration of approx ₹138 crore. Brigade stock inches up by 0.75% on the NSE, trading at ₹596.50.

  • August 22, 2023 10:10

    Stock Market Today @ 10.10 am: The BSE Sensex trades 19 points higher at 65,235 while the NSE Nifty trades with 10 points gain of 19,403.

  • August 22, 2023 10:08

    Vodafone Idea gains 2.65% as Tanla Platforms collaboration takes shape

    Vodafone Idea stock rises by 2.65% on the NSE, trading at ₹7.75. Tanla Platforms recently entered into a term sheet with the company for provision of platform and firewall services, valid for term of two years. Tanla Platforms stock trades at ₹1,042 on the NSE, up by 0.68%.

  • August 22, 2023 10:06

    Share Market Today: IEX shares dip 0.8% amid CERC’s market coupling consultation

    Shares of ​IEX ​slipped 0.8 per cent to Rs 123.55 after Central Electricity Regulatory Commission has floated a consultation paper on implement market coupling in the power sector, which aids in discovery of uniform prices, optimal use of transmission infrastructure and maximising economic surplus.

  • August 22, 2023 09:59

    Commodities: Sectoral outlook - As paper prices bottom out, industry hopes surge

    Prices of writing and printing (W&P) paper have been raised from August 10, giving a ray of hope to the industry that the rates, which fell 25 per cent during June and July, have bottomed out. “Paper prices which had declined since June this year have begun to stabilise as we see prices of all paper grades besides pulp increasing,” said a trade source, without wishing to identify.

  • August 22, 2023 09:57

    Stock in Focus: Weaker than expected listing shows Jio Financial has much ground to cover

    The optimism surrounding ​Jio Financial Services (JFS) failed to translate into a strong listing​, with the stock falling 5 per cent to hit its lower circuit. This is a reflection of the market view that while valuations remain strong, the NBFC has a lot of ground to cover operationally, starting almost from scratch.

  • August 22, 2023 09:52

    Stock in Focus: Lemon Tree Hotels inks deals for new properties, shares gain 1.33%

    Shares of Lemon Tree Hotels rise by 1.33% on the NSE, trading at ₹106.60. The company had signed license agreements for two properties in Bhubaneswar and Kasauli under brand Lemon Tree Hotel and Lemon Tree Mountain Resort, respectively.

  • August 22, 2023 09:47

    Share Market Today: Youperience GmbH merges with Persistent Systems Germany, GmbH; stock trade flat

    Persistent Systems Ltd ​informed the exchanges that pursuant to the order received from the Commercial Register Courts in Germany, Youperience GmbH, (a step down subsidiary) merged into Persistent Systems Germany, GmbH (wholly-owned subsidiary) with effect from August 21, 2023. The stock of Persistent Systems trades at ₹5,018.75, up by 0.16% on the NSE.

  • August 22, 2023 09:43

    Sectoral performance: Mixed Q1FY24 results for Home Decor firms: Tiles and Pipe companies shine, Wood Panels lag

    Home decor companies in Q1FY24 saw a diverse set of results. While wood panel saw flattish revenue YoY, tiles/plastic pipes reported 6%/4% growth. All pipe companies were impressive with strong double-digit volume growth. Stable PVC prices and moderating gas prices helped boost EBITDA/PAT by 17%/3% for pipe companies and 11%/6% for tile companies. In contrast, elevated timber prices continued to weigh on wood panel companies, dragging EBITDA/PAT 20%/27% lower.

  • August 22, 2023 09:42

    Nifty today: Major gainers, losers at 9.30 am

    Major gainers on the NSE at 9:30 am:

    Adani Enterprises (2.62%); HDFC Life Insurance (2.05%); SBI Life Insurance (1.13%); Power Grid (0.97%); Adani Ports (0.91%)

    Major losers: Jio Financial (-5%); Nestle India (-0.44%); Titan (-0.42%); Tech Mahindra (-0.40%); TCS (-0.37%)

  • August 22, 2023 09:41

    Sectoral performance: Hotel sector maintains momentum with 15%+ YoY RevPar growth in Q1FY24

    The hotel sector sustained its momentum in Q1FY24 despite the high base with all four major companies viz. IHCL, EIH, Lemon Tree and Chalet, clocking 15%-plus YoY RevPar growth.

  • August 22, 2023 09:40

    Crude oil prices slip on weak China growth and Iraqi-Turkish meeting anticipation

    Crude oil futures traded lower on Tuesday morning as weak economic growth in China continued to affect the demand for the commodity. Added to this, market is also waiting for the outcome of the meeting between Iraqi and Turkish oil ministers on the resumption of Iraqi oil exports from Ceyhan oil terminal in Turkey.

    At 9.27 am on Tuesday, October Brent oil futures were at $84.33, down by 0.15 per cent; and October crude oil futures on WTI (West Texas Intermediate) were at $79.98, down by 0.17 per cent. September crude oil futures were trading at ₹6655 on Multi Commodity Exchange (MCX) in the initial trading hour of Tuesday morning against the previous close of ₹6674, down by 0.28 per cent; and October futures were trading at ₹6638 as against the previous close of ₹6658, down by 0.30 per cent.

  • August 22, 2023 09:39

    Stock in focus: Adani Group forms JV with TFS for hospitality services development

    Adani Group for its airports business and a wholly-owned subsidiary of Adani Enterprises Limited has incorporated a joint venture company namely Tabemono True Aromas Private Limited with Travel Food Services Private Limited (TFS) for strategic partnership to develop, operate and maintain various hospitality services and formats at multiple locations.

  • August 22, 2023 09:37

    Stock in action: Jio Financial continues slide, drops 5% to Rs 239.20 amid Index Fund selling

    Jio Financial slumped on Tuesday as well another 5 per cent to Rs 239.20 on the bSE., as index funds seemed to have stepped up their selling

  • August 22, 2023 09:35

    Share Market Today: Patel Engineering wins ₹1,275. crore Narmada-Gambhir water supply project contract; stock surges over 3%

    Madhya Pradesh Jal Nigam, a Government undertaking, has declared a Mumbai-based infrastructure company, Patel Engineering Limited (PEL) as L1 in a Joint Venture for ₹1,275.30 crore contract for the works involving engineering, procurement, construction, testing, commissioning, trial run and operation and maintenance for ten years of Narmada-Gambhir, District Ujjain & Indore Multi-Village Drinking Water Supply Scheme. The project is to be completed in 24 months and is to be executed in a joint venture, of which PEL’s share is 35%, i.e. ₹446.36 crore.

    Patel Engineering stock surges by 3.48% on the NSE, trading at ₹57.95.

  • August 22, 2023 09:34

    LIC acquires 6.660% stake in Jio Financial Services

    Life Insurance Corporation of India has acquired 6.660% shareholding in Jio Financial Services Ltd through demerger action by “Reliance Industries Ltd.

    LIC stock inches up by 0.36% on the NSE, trading at ₹654.50.

  • August 22, 2023 09:31

    Kotak Alternate Asset Managers names Jitendra Gohil as Chief Investment Strategist

    Kotak Alternate Asset Managers Limited (KAAML) has announced the appointment of Jitendra Gohil as Chief Investment Strategist to support the Investment Advisory practice.

    Jitendra will be a core member of KAAML’s Investment Advisory team. He has around two decades of experience in Equity Strategy and Business Development and has an excellent understanding of the Indian and Global macro environment with special focus on geopolitics.

    Jitendra joined KAAML from Credit Suisse Private Banking and Wealth Management, where he has worked as a Director and Head of Equity Research for the last 13 years. Prior to that he has also worked with organisations like Bank of America Continuum Solutions, Kotak Securities and BSE.

  • August 22, 2023 09:25

    Opening bell: Market opens with neutral tone amid mixed global cues

    As trading commenced on Tuesday, the market displayed a neutral stance influenced by mixed international signals. Notably, the Nasdaq’s robust 1.5% overnight leap casts a spotlight on domestic IT stocks. The BSE Sensex started the day with a 59 rise, reaching 65,275 by 9:15 am. Similarly, the NSE Nifty advanced by 27 points, reaching 19,420.

    From the Nifty pack, Adani Enterprises, Adani Ports, HDFC Life, PowerGrid and Bajaj Finserv were among the gainers.

    Jio Financial, Nestle, Eicher Motors, RIL and Axis Bank were among the laggards.

    Despite the local indices’ recent recovery, persistent net selling by FIIs remains an ongoing challenge, contributing to a sense of uncertainty. Moreover, lingering concerns about China’s economic performance may further dampen market sentiment.

  • August 22, 2023 09:13

    Commodities: Silver rises 2.03% on US interest rate prospects and increased solar Panel demand

    Silver settled up by 2.03 per cent at Rs 71,662 a kg on prospects of US interest rates remaining elevated for some time. Investors grew confident that Federal Reserve Chair Jerome Powell’s speech at the annual symposium in Jackson Hole this week could set the stage for an extended period of higher interest rates. Still, demand for commodities is expected to increase. Efforts to curb carbon emissions sped up the development of solar panel technologies that need higher conduction needs, causing sharp upgrades in forecasts for the commodity’s demand. Solar panel companies are expected to make up 14% of global silver consumption, compared to 5 per cent in 2014.

    The probability for a quarter-point rate hike in November is however higher at 35.5 per cent.

  • August 22, 2023 09:11

    Nifty’s strong YTD performance amidst growing economic challenges and political uncertainties

    PL Report - India Strategy - Headwinds ahead

    India Strategy - Amnish Aggarwal - Head of Research, Prabhudas Lilladher Pvt Ltd

    Headwinds ahead

    NIFTY has given more than 14% return in FY24 YTD as India attracted more than USD16.5bn of net FII flows. India seems well poised for growth in longer term, however coming months will be a real test for the economy and markets given 1) EL Nino impact on crops and Inflation as food inflation has spiked to more than 7.4% and rainfall outlook remains subdued and 2) dim possibility of further cut in interest rates with some possibility of an increase in 2H. We expect markets to start factoring in political risks as election related activity picks -up with state elections in November and Lok Sabha elections in April 2024. Economy is getting a big push from Union Govt induced capex even as rural India is showing faint signs of recovery and urban discretionary demand remains tepid. Expected interest rate hike in US and its impact on INR/USD with impending political and inflation risk can impact capital flows. We believe high inflation can be a political hot potato in an election year, forcing govt to slow down capex. We remain positive on Auto, Banks, Capital Goods and Healthcare. We cut NIFTY target to 20,735 given cut in earnings (impact of floods and late Diwali in 2Q) and expect markets to consolidate ahead of 2024 elections. We advise stock specific approach and avoiding sectors / companies with weak fundamentals and lack of business moats.

  • August 22, 2023 09:03

    Technicals points to subdued markets with mixed bias and Nifty resistance zone

    Prashanth Tapse, Senior VP (Research), Mehta Equities

    “Markets could be subdued in early Tuesday trades with a mixed bias, but optimism in most of the Asian indices could fuel extended recovery in local shares. Domestic IT stocks could be in limelight today after the tech-heavy Nasdaq index jumped over 1.5% in overnight trades. However, FIIs remaining net sellers continue to cause problems, as despite a recovery in key local indices yesterday, foreign investors offloaded shares in domestic markets. Sentiments may also remain sluggish amid persistent Chinese economic concerns. Technically, Nifty bulls are likely to hesitate as long as the 19525-19550 zone is a resistance area. On the downside, bears will become active if Nifty slips below 19251 mark.”

  • August 22, 2023 09:01

    Stock to Watch: L&T secures orders worth ₹2,500 crore for urea plant in Australia

    Larsen & Toubro (L&T) has secured an order worth ₹2,500 crore for the fabrication and supply of pipe rack modules for a 2.3-MMTPA urea plant for Perdaman Chemicals and Fertilizers Pty in Australia.

  • August 22, 2023 09:00

    Asian stocks rise amid big tech rally

    Asian equities opened mostly higher Tuesday following a rally in big tech that spurred a rebound on Wall Street, though elevated Treasury yields kept risk sentiment in check.

    Nifty ended higher on Aug 21 aided by buying across Metals, Power and IT stocks. At close, Nifty was up 0.43% or 83.5 points at 19393.6. Nifty bounced up as expected post the doji formed in the previous session. 19483 is the resistance for the Nifty in the near term while 19253-19310 band could provide support.

  • August 22, 2023 08:59

    US 10-year yield hits highest since 2007; markets anticipate Powell’s Jackson Hole speech

    The US 10-year yield ended the New York session at 4.339% or its highest closing level since Nov. 6, 2007.

    The street is waiting to hear and interpret Fed Chairman Jerome Powell’s speech at the annual Jackson Hole symposium on Friday. The speeches from Fed chiefs at the Jackson Hole conference have typically buoyed stocks since the turn of the millennium, with the S&P 500 gaining 0.4% on average in the following week, data compiled by Bloomberg Intelligence show. But last year’s appearance is still fresh in traders’ minds: Equities slumped 3.2% in the week following Powell’s remarks, according to BI, after he warned of keeping policy restrictive to battle inflation.

  • August 22, 2023 08:58

    Indian markets likely to open flat amid global mixed signals: HDFC Securities:

    Deepak Jasani, Head of Retail Research, HDFC Securities:

    Indian markets could open flat, despite mostly higher Asian markets today and positive US markets on Aug 21

    The S&P 500 and Nasdaq Composite finished with their first gains of the past five sessions on Monday, despite another surge in long-dated Treasury yields and lingering concerns about China’s economy. A rally in big tech spurred a rebound in stocks, outweighing concerns over higher Treasury yields just a few days ahead of a speech by Federal Reserve Chair Jerome Powell.

  • August 22, 2023 08:56

    Stock in Focus: AU Small Finance Bank eyes robust growth and universal banking license

    AU Small Finance Bank believes that systemic growth may remain strong and that the bank is well positioned to sustain a healthy growth rate of 25-30 per cent over the next few years.

    Transitioning from an NBFC to an SFB to receiving an Authorised Dealer category-I license, AU Bank has come a long way and is now aiming for a universal banking license, said Motilal Oswal in a report.

    It is one of the banks that has not only emerged as one of the largest SFBs but also delivered steady return ratios with 5-year Avg RoA/RoE at 1.7 per cent/14.9 per cent.

    With the focus on building granular retail book and following the best-in-class underwriting practices like in-house origination and collection teams, the asset quality is expected to remain stable despite a minor blip in 1Q due to seasonality, it said.

  • August 22, 2023 08:52

    Commodities: Gold holds steady ahead of Jackson Hole meet and interest rate clues

    Gold remained range bound as markets geared up for the Federal Reserve’s Jackson Hole symposium for clues on where interest rates might settle. Fed officials largely remained concerned that inflation would fail to recede and suggested they may continue raising interest rates.

    In MCX, gold prices were up marginally by 0.2 per cent at Rs 58,490 per 10 grams on Monday.

    Asian ETFs bought $132 million of gold in July, largely propelled by surging Japanese demand with inflows totaling $170 million. Gold price tested the bearish channel’s resistance and may remain subdued today with a target of Rs 58,000 on Tuesday, said Kedia Commodities. Note that breaking the mentioned level will open the way to suffer additional losses that reach 57500 areas, it said.

  • August 22, 2023 08:49

    Stock Analysis: Titan-CaratLane deal: Why the stock market reaction was muted

    Titan Company on Saturday announced the acquisition of 27.18 per cent stake in the omnichannel jewellery retailer CaratLane by buying the entire 91,90,327 equity shares held by the founder. Consequently, Titan’s holding in the company will go up to 98 per cent from the previous 71 per cent.

  • August 22, 2023 08:43

    Welspun Enterprises acquires remaining 50.10 per cent stake in Michigan Engineers

  • August 22, 2023 08:42

    Sula Vineyards to concentrate on vineyards outside Bengaluru

  • August 22, 2023 08:42

    BHEL has received an order worth of Rs 4000 crore from Mahan Energen, a unit of Adani Power

  • August 22, 2023 08:42

    BLS International FZE is in process to subscribe 100% share capital of Saudi Arabia-based BLS International Travel & Tourism

  • August 22, 2023 08:41

    Adani Power targets 21,110 MW thermal capacity by fiscal 2029

  • August 22, 2023 08:40

    Omega TC sells 18 lakh shares of Shriram Properties at Rs 75.43 each

    Omega TC Sabre Holdings sold 18 lakh shares of Shriram Properties at Rs 75.43 a piece

  • August 22, 2023 08:38

    Ambuja Cements initiates Open Offer for 26% stake in Sanghi Industries

    Ambuja Cements has made an open offer to acquire a 26 per cent stake in Sanghi Industries for Rs 767.16 crore. The offer opens on Sept. 29 and closes on Oct. 13.

  • August 22, 2023 08:36

    EPFO sees robust rise in membership growth in June 2023

    In June 2023, the Employee Provident Fund Organization (EPFO) in India recorded a net increase of 17.89 lakh members, with a significant rise in youth enrollment, in the age group of 18-25 years, and Maharashtra contributing the highest share.: Source: AUM Capital

  • August 22, 2023 08:34

    Derivative corner

    Chola Securities.

    Derivative corner:

    Nifty OI Put/Call ratio has gone up from 1.00 to 1.08 levels.

    Options data: The maximum Call OI is seen at 19,400 and 19,500 while maximum Put OI is seen at 19,300 and 19,200. This indicates that the market is expecting a trading range of 19,200 to 19,400 zones.

    FII Activity in Derivatives: Marginal addition of longs is seen in index futures. On options buying front; there are more put buyers and on option writing front; net call-put writing is indicating put writers back in action.

    FII Long/Short ratio in index futures has marginally gone up from 42% to 43% indicating long addition.

  • August 22, 2023 08:30

    Today’s Board Meetings: 22 Aug 2023




    Issue Of Warrants




    Increase in Authorised Capital;Preferential Issue of shares



  • August 22, 2023 08:29

    Nomura on Tata Consumer: Maintain Buy on Company, target price at Rs 872/sh

  • August 22, 2023 08:29

    Citi on Auro Pharma: Downgrade to Sell on Company, hike target price at Rs 750/sh

  • August 22, 2023 08:28

    MS on LTTS: Holds Equal weight and a target price at Rs 3200

  • August 22, 2023 08:28

    BofA on Bajaj Finance: Buy with a target price at Rs 8750

  • August 22, 2023 08:28

    Macquarie on HDFC Bank: Outperform on rating with target price of Rs 2110

  • August 22, 2023 08:27

    Citi on Sun Pharma: Buy, target price at Rs 1275

  • August 22, 2023 08:27

    Citi on Cartrade: Buy, target price at Rs 624

  • August 22, 2023 08:27

    Nomura on Cartrade: Buy, target price at Rs 678

  • August 22, 2023 08:26

    Nomura on Bharat Forge: Buy, target price at Rs 1157

  • August 22, 2023 08:26

    Aeroflex Industries IPO opens today

    Aeroflex Industries IPO opens today at ₹102-108 price band

    The ₹351-crore initial public offering opens to public today at a price band ₹102-108. Investors can bid for a minimum of 130 equity shares. Aeroflex Industries Limited IPO has reserved not more than 50 per cent of the shares in the public issue for qualified institutional buyers (QIB), not less than 15 per cent for non institutional investors (NII), and not less than 35 per cent of the offer is reserved for retail investors.

    The IPO consists of a fresh issue worth ₹162 crore and an offer-for-sale (OFS) of up to 1.75 crore shares by promoter Sat Industries.

  • August 22, 2023 08:26

    Pyramid Technoplast IPO issue closes today

    Pyramid Technoplast issue closes today. Offer subscribed 5.84 times so far; price band is ₹151-166

    Today is the last date to subscribe the initial public offering of Pyramid Technoplast.

    The Rs 153-crore IPO of Pyramid Technoplast has so far been subscribed 5.20 times at the end of Day 2 of issue opening on Friday. The initial public offering saw a strong response from all category of investors. While retail investors portion was subscribed 6.52 times, NII portion and QIB quotas were subscribed 6.73 times, and 1.48 times respectively. Overall, it received bids for 4.41 crore shares against 75,60,400 shares on offer.

    The IPO consists of fresh issue of ₹91.30 crore and an offer for sale (OFS) portion of ₹61.75 crore. Pyramid Technoplast IPO lot size is 90 equity shares

  • August 22, 2023 08:25

    Stock to watch: Glenmark settles antitrust case by agreeing to pay $30 m

    Glenmark Pharmaceuticals​ Inc., USA has entered into an agreement with the U.S. Department of Justice, Antitrust Division (DOJ) to resolve all of its court proceedings with the DOJ involving historical pricing practices by former employees relating to the generic drug pravastatin between 2013 and 2015. The Company has entered into a three-year Deferred Prosecution Agreement, and if the Company adheres to the terms of the agreement, including the payment of $30 million, payable in six installments, the DOJ will dismiss the pending Superseding Indictment.

  • August 22, 2023 08:24

    Stock to Watch: HOEC

    In a surprise move, the board of directors of Hindustan Oil Exploration Company (HOEC) has announced that the company’s Executive Director and CFO, Ramasamy Jeevanandam, would be the Managing Director from October 1; the incumbent MD, Pandarinathan Elango, “shall be retiring” on September 30, upon completion of his current term.

  • August 22, 2023 08:24

    Stock to Watch: Tata Communications

    The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) has ordered the Central Government not to take coercive steps against Tata Communications in relation to a licence fee demand of Rs 991.5 crore. A coram of TDSAT Chairperson Justice DN Patel and Member Subodh Kumar Gupta passed the interim order on August 14 on a plea filed by Tata challenging the Telecom department’s license fee demand for the years 2006-2007 and 2007-2008.

  • August 22, 2023 08:20

    Stock to Watch: Coffee Day Enterprises

    The National Financial Reporting Authority has imposed fines totalling Rs 1.10 crore on three entities, including two individual auditors, in connection with lapses in auditing of Tanglin Developments Ltd (TDL), a subsidiary of Coffee Day Enterprises Ltd. Besides, the auditing firm -- Sundaresha & Associates -- and the two auditors -- C Ramesh and Chaitanya G Deshpande -- have been barred from taking up auditing work for varying periods.

  • August 22, 2023 08:17

    Stock in Focus: IEX

    Central Electricity Regulatory Commission has floated a consultation paper on implementing market coupling in the power sector, which aids in discovery of uniform prices, optimal use of transmission infrastructure and maximising economic surplus. Shares of IEX will be in focus

  • August 22, 2023 08:16

    Massive block deals anticipated for SJS Enterprises worth Rs 542 crore

    Market Sources say SJS Enterprises to see huge block deals worth Rs 542 crore.

    According to them, 30% of equity to see change hands via block deal while floor price has been fixed at580/share, over 6 per cent discount to CMP.

    The sellers are: Evergraph Holdings - 29.53%; Sanders Consulting - 0.5%

  • August 22, 2023 08:13

    F&O BAN



    3️⃣ GNFC



    6️⃣ INDIACEM



    9️⃣ PNB

    1️⃣0️⃣ SAIL

    1️⃣1️⃣ ZEEL

  • August 22, 2023 08:13

    Move Out Of Short-Term ASM Framework

    Gland Pharma, Orient Cement, RattanIndia Enterprises, SEPC.

  • August 22, 2023 08:12

    Move Into Short-Term ASM Framework

    Technocraft Industries (India), Hindustan Oil Exploration.

  • August 22, 2023 08:12

    Record-date Interim Dividend

    Sun TV Network, Natco Pharma, KPI Green Energy, Dreamfolks Services.

  • August 22, 2023 08:12

    Record-date Dividend

    Karnataka Bank, NHPC.

  • August 22, 2023 08:11

    Ex-date AGM

    Subro, Panama Petrochem, Aurobindo Pharma, NHPC

  • August 22, 2023 08:11

    Ex-date Interim Dividend

    Sun TV Network, Natco Pharma, KPI Green Energy, Dreamfolks Services.

  • August 22, 2023 08:10

    Ex-date Dividend

    Karnataka Bank, Subro, Panama Petrochem, NHPC, ICICI Securities.

  • August 22, 2023 08:10

    Trading Tweaks: BF Utilities

    Price Band Revised From 20% To 10%: BF Utilities.

  • August 22, 2023 08:09

    Insider Trades: Vimta Labs

    Vimta Labs: Promoter Sujani Vasireddi sold 18,234 shares on Aug. 17.

  • August 22, 2023 08:05

    Bulk Deals

    Shriram Properties: Omega TC Sabre Holdings sold 18 lakh shares (1.1%) at Rs 75.43 apiece.

  • August 22, 2023 08:04

    IPO Offerings: Aeroflex Industries

    Aeroflex Industries: The initial public offering will be open between Aug. 22 and 24. The manufacturer of stainless steel hoses will have an IPO issue size of Rs 351 crore. It consists of a fresh issue of Rs 162 crore and an offer for sale of Rs 189 crore by the promoter group, at a price band of Rs 102–108 apiece.

  • August 22, 2023 08:03

    Stock to Watch: Rail Vikas Nigam

    Rail Vikas Nigam: The company incorporated a wholly-owned subsidiary Masakani Paradeep Road Vikas.

  • August 22, 2023 08:02

    Stock to Watch: RITES

    RITES: The company signed an MoU with NHPC to collaborate on comprehensive consultancy services for rail infrastructure facilities for NHPC’s hydropower projects in Arunachal Pradesh.

  • August 22, 2023 08:01

    Stock to Watch: BLS International

    BLS International: The company’s subsidiary BLS International FZE is in process to subscribe 100% share capital of Saudi Arabia-based BLS International Travel & Tourism.

  • August 22, 2023 08:00

    Stock to Watch: Brigade Enterprises

    Brigade Enterprises: The south-based real estate developer has entered into a sale deed for acquiring 6.54 acres of land parcel in Chennai in which a residential project will be developed.

  • August 22, 2023 08:00

    Stock to Watch: Lemon Tree Hotels

    Lemon Tree Hotels: The hotel chain has signed license agreements for two properties in Bhubaneswar and Kasauli under the brand Lemon Tree Hotel and Lemon Tree Mountain Resort, respectively. The hotel in Bhubaneswar is expected to be operational by Q4FY25, and the hotel in Kasauli is expected to be operational by Q3FY26.

  • August 22, 2023 07:59

    Stock to Watch: Welspun Enterprises

    Welspun Enterprises: The company acquired 50.10% stake in Michigan Engineers from Authum Investment & Infrastructure and Sansaar Housing Finance for Rs 137.07 crore. Post acquisition, Michigan becomes a subsidiary.

  • August 22, 2023 07:57

    Stock to Watch: Tata Power

    Tata Power: The company’s arm Tata Power Renewable Energy signed a power purchase pact with Tata Motors for 9 MWp on campus solar plant at Pantnagar in Uttarakhand. The project will be commissioned within six months.

  • August 22, 2023 07:57

    Stock to Watch: Sanghi Industries

    Sanghi Industries: Ambuja Cements has made an open offer to acquire a 26% stake for Rs 767.16 crore. The offer opens on Sept. 29 and closes on Oct. 13.

  • August 22, 2023 07:56

    Stock to Watch: Union Bank of India

    Union Bank of India#: The board approved to raise up to Rs 5,000 crore from Qualified Institutions Placement. It set the floor price at Rs 91.10 apiece for the issue opened on Aug. 21.

  • August 22, 2023 07:55

    Stock to Watch: Adani Power

    Adani Power: The company has targeted a total capacity of 21,110 MW by FY29. This includes proposed inorganic capacity at 1,100 MW, brownfield capacity of 3,200 MW, core existing capacity of 15,210 MW and committed brownfield capacity of 1,600 MW. It sees the net senior debt at Rs 26,690 crore in FY24 vs Rs 24,350 crore in FY23.

  • August 22, 2023 07:54

    Stock to Watch: Adani Enterprises

    Adani Enterprises: Founder firm Kempas Trade and Investment bought 2.53 crore shares (2.22%). The purchase was made from open market between Aug. 7 to Aug. 18. The company has also incorporated a wholly-owned subsidiary Sirius Digitech International to provide digital solutions and services.

  • August 22, 2023 07:51

    Opening Bid: Flattish opening seen for Nifty, Sensex

    Market is likely to open on flat note​ on Tuesday amid mixed global cues. Analysts expect lacklustre trading day for traders with stock-specific action to dominate. Lack of triggers to keep market in a range, said analysts. With result season is over, now the focus is shift to global cues.

  • August 22, 2023 07:40

    Broker’s call: JK Cement (Reduce)

    JK Cements reported results largely in line with our estimate at EBITDA level. The company has restated its financials to factor in the effect of amalgamation of its subsidiary Jay kay cem central ltd (recently commissioned Panna and Hamirpur plants) with the parent and as a result, Q1-FY24 and Q4-FY23 numbers have been restated.

  • August 22, 2023 07:38

    Broker’s call: NMDC (Add)

    NMDC’s Q1-FY24 EBITDA of ₹1,990 crore (up 4.9% YoY) was 17.5 per cent and 9.8 per cent ahead of our and consensus’ estimates.

    Key points: Best-ever quarterly performance barring Q4-FY23; focus on volume growth; EBITDA margin sustained QoQ at 37 per cent due to better product mix; and cash & equivalents at Q1FY24-end were ₹11,280 crore.

  • August 22, 2023 07:35

    Buzzing stocks: Stocks that will see action today: August 22

    IEX, Adani Enterprises, Coffee Day, Welspun Enterprises, Lemon Tree, Tata Power, Brigade Enterprises, IIFL Finance, Hindustan Oil Exploration, Tata Communications Glenmark Pharma,

  • August 22, 2023 07:28

    Day trading guide for Aug 22, 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

  • August 22, 2023 07:25

    Stock to buy today: JBM Auto (₹1,539)

    JBM Auto’s stock began its latest leg of uptrend in December last year after taking support at ₹400. While it had been gaining steadily since the beginning of this year, hit a resistance at ₹1,500 in July this year. A couple of attempts made by the stock since early July to rally past the ₹1,500-mark a failure.

  • August 22, 2023 07:19

    Asian stocks rise on Wall Street rebound

    Asian stock markets commenced Tuesday on an upward trajectory, propelled by a rally in major technology stocks that triggered a recovery on Wall Street. Despite this positive momentum, the influence of heightened Treasury yields tempered overall risk sentiment. While Japan’s Topix index marked a 0.6% increase, Australia’s S&P/ASX 200 Index experienced a marginal decline of 0.3%. Meanwhile, futures for Hong Kong’s Hang Seng index indicated modest gains ahead.

  • August 22, 2023 07:13

    Wall Street: Nasdaq and S&P 500 rise amid Nvidia optimism

    The S&P 500 and Nasdaq received a significant boost from the technology sector, leading to gains.

    While the Dow Jones Industrial Average saw a marginal decline of 0.11%, the Nasdaq Composite soared by 1.56%, supported by strong performance from tech-related stocks. The S&P 500 also gained 0.69% during the trading session.

    Meanwhile, semiconductor stocks advanced by 2.8%, contributing to the positive market momentum. - Reuters