Share Market Highlights August 29, 2024: RIL to consider 1:1 bonus issue as markets hit new highs; Nifty rises for 11th day

The Indian stock market ended on a positive note on Thursday, August 29, 2024, with both benchmark indices closing higher amid volatile trading on the monthly futures and options (F&O) expiry day. The BSE Sensex gained 349.05 points, or 0.43 per cent, to close at 82,134.61, while the NSE Nifty50 rose 99.60 points, or 0.4 per cent, to finish at 25,151.95.

Anlon Technology Solutions Limited (ATSL) has signed a distribution agreement with LION Protects B.V. of the Netherlands, the company announced today. The deal authorises ATSL to market, distribute, and sell LION’s training products in India, as well as provide training solutions and maintenance services.

Integrated battery manufacturing storage system factory set up in Jamnagar. Production will start from next year : Mukesh

Reliance Industries on Thursday said it will consider and recommend issuing bonus shares at a ratio of 1:1 to its shareholders at a board meeting on September 5.

Reliance is transforming itself into a deep tech company, Chairman Mukesh Ambani said on Thursday as he termed AI as a transformative event in the evolution of the human race that is opening up avenues to address complex problems facing mankind.

Addressing the 47th AGM of RIL, Ambani said the ongoing tech-driven transformation of Reliance will propel the company into a new orbit of hyper-growth and multiply its value for years to come.

The strategic adoption of deep tech and advanced manufacturing will propel Reliance to secure a place in the global top-30 league in the near future, Ambani said promising that the future is far brighter than the past.

Jio today stands as a true deep tech innovator, he noted.

Describing the birth of AI as perhaps the most transformative event in the evolution of the human race, Ambani said it had opened up opportunities to address a number of complex problems facing mankind.

“As I told you last year, Reliance has now become a net producer of technology. Breakthrough technologies and innovation have always been the greatest wealth creators for nations, as well as for corporates. Reliance internalised this ‘Vikas Mantra’ at every stage of our growth,” he said.

Reliance is transforming itself into a deep tech company with advanced manufacturing capabilities in various ways.

“First, we are embedding innovative technologies in every single business to generate ever-greater value for our customers. Second, our talented engineers and scientists are incubating several critical technological innovations in-house to enhance our product and service offerings. Third, we have built an AI-native digital infrastructure for all Reliance businesses, and have built our software stack, integrating end-to-end workflows and real-time dashboards,” he said.

With the success of our ‘Atmanirbhar’ efforts, the company is accelerating India’s transformation into a deep tech nation.

“Reliance spent over Rs 3,643 crore (USD 437 million) in FY24 towards R&D, taking our spend on research to over Rs 11,000 crore (USD 1.5 billion) in the last four years alone. We have more than 1,000 scientists and researchers working on critical research projects across all our businesses,” Ambani said.

He informed that last year Reliance filed over 2,555 patents, mainly in the areas of bio-energy innovations, solar and other green energy sources, and high-value chemicals.

“Digital is another principal area of our in-house research. We have filed patents in 6G, 5G, AI-Large Language Models, AI-Deep Learning, Big Data, Devices, Internet of Things, and Narrowband-IoT,” he said and assured that the ongoing tech-driven transformation of Reliance will propel the company into a new orbit of hyper-growth and multiply its value for years to come.

“Our future is far brighter than our past. For example, Reliance took over two decades to be amongst the top 500 companies globally. The following two decades saw us joining the league of the world’s Top-50 most valuable companies. With our strategic adoption of deep tech and advanced manufacturing, I can clearly see Reliance earning a place in the Top-30 League in the near future” .

Reliance Industries stock off highs ... now up 0.8% at ₹3,020.25

Company says it has delivered ‘one of the world’s largest advanced broadband network gateway projects’ for BSNL

Reliance Industries said that a meeting of the board of directors of the company is scheduled to be held on Thursday, September 5, 2024 to consider and recommend to the shareholders for their approval, issue of bonus shares in the ratio of 1:1 to the Equity Shareholders of the Company by capitalisation of reserves. 

The company had last issued bonus shares in 2017 and prior to that in 2009, both of them in the ratio of 1-for-1. Shares were trading at ₹3,068.45 apiece on the BSE.

The price of natural gas futures on the Multi Commodity Exchange (MCX) has been on the decline since mid-June. It fell off the barrier at ₹275.

However, after marking a low of ₹169.1 early this month, the contract has recovered. But then, it was capped at ₹204, a resistance where the 50-day moving average coincides.

Nevertheless, the price action over the recent weeks shows that the downtrend is losing momentum. That said, for the trend to turn bullish, the price should cross over ₹204. Read more

Tata Consultancy Services (TCS) has extended its partnership with international fashion retailer Primark to transform the company’s technology operations over the next five years. The expanded collaboration, announced today, aims to support Primark’s global growth plans. 

Sonata Software, a modernisation engineering company, has secured a multi-year, multimillion-dollar IT outsourcing contract with a leading US-based healthcare and wellness company. The announcement of the deal, finalised in June 2024, follows an earlier disclosure during Sonata’s Q1FY25 earnings call on July 31.

Ecos (India) Mobility & Hospitality Limited IPO issue subscription details at 12:33 pm on August 29, 2024 (Issue Day 2)

Total subscription: 6.60 times

QIB portion: 0.05 times 

NII portion: 15.25 times

Retail Individual Investors portion: 6.64 times

(Source: BSE Cumulative Demand Schedule)

BSE Link: https://www.bseindia.com/markets/publicIssues/CummDemandSchedule.aspx?ID=6718&status=L

Issue Closes Tomorrow, August 30, 2024

Here are the major live updates related to the 47th Annual General Meeting of Reliance Industries.

IndiGo co-founder Rakesh Gangwal has sold 6 per cent stake in the airline worth about ₹11,000 crore as part of his strategy to pare stake in the airline. About 23 million shares were sold via bulk deals at a floor price of ₹4,760 on Thursday. The sale was at a discount to the market price.

In a bid to attract both Indian and foreign companies to list in the international stock exchanges at GIFT City, Gandhinagar (Gujarat), the finance ministry has reduced the minimum public float requirement to 10 per cent from 25 per cent.

Walt Disney Co and Reliance Industries won approval from the Competition Commission of India (CCI) on Wednesday for an $8.5 billion merger of their Indian media assets after offering concessions relating to their grip on broadcasting rights for cricket, India’s favourite sport. Here are the key points raised in the CCI’s initial assessment, according to a confidential letter sent to the companies on August 19 and reviewed by Reuters:

Zoho on Thursday announced its foray into payments space with the launch of Zoho Payments, a unified payment solution to help businesses accept money online from their customers. 

INTELLECT DESIGN FORGES GLOBAL PARTNERSHIP WITH WIPRO TO TRANSFORM BANKING TECHNOLOGY SERVICES WITH EMACH.AI, REVOLUTIONISING ENTERPRISE CONNECTED INTELLIGENCE FOR FINANCIAL INSTITUTIONS

The shares of NLC India Limited (NLCIL) were trading at ₹278.30, up by ₹2 or 0.72 per cent, on the NSE at 10.50 am. This comes a day after the Navratna government enterprise signed a power usage agreement with Telangana State distribution companies (DISCOMs) to supply 200 MW of solar power for a 25-year period under the Central Public Sector Undertaking (CPSU) Scheme.

HCLTech shares have climbed 1.55 per cent to ₹1,746.10 on the NSE following positive analyst reports. Morgan Stanley maintained an Overweight rating with a target price of ₹1,705, citing the management’s positive near-term outlook, particularly in the financial services vertical.

Bank Nifty began Thursday’s session lower at 51,104 versus yesterday’s close of 51,144. But the index has recovered and has now moved up to 51,250, up 0.2 per cent.

The advances/ declines ratio of the index stands at 8/4, showing some bullish bias. ICICI Bank, up 0.7 per cent, is the top gainer; Bandhan Bank, down 1.3 per cent, is the top loser. Read more

Biocon Biologics Ltd (BBL), a subsidiary of Biocon Ltd, has secured market entry for its proposed biosimilar to Stelara in Europe, the UK, Canada, and Japan. The company announced today, that it has signed a settlement and license agreement with Janssen, resolving patent disputes for its product Bmab 1200 (bUstekinumab).

The shares of Biocon Ltd were trading at ₹355.40 down by ₹1.30 or 0.36 per cent today on the NSE at 10:30 am.

(CMP: Rs 2737, Target: Rs 3400, +24% upside) We believe TVS should be a key beneficiary of 2W demand revival in both domestic and export markets, while an improving franchise should drive continued margin expansion. Its EPS has more than trebled in the last 3Y and we expect it to more than double over the next 3 years. Its 48x/36x FY25E/FY26E PE appears rich (CY15-23 average: 28x), but we believe premium multiples will sustain on strong growth outlook. We retain Buy with revised Rs3,400 PT (earlier Rs3,000) at 40x Sep-26E PE (rolled over from Mar-26E).

EaseMyTrip, an Indian online travel platform, has been named the ‘Best Online Travel Portal of India’ at the Prestigious Brands of India 2024 awards. The accolade was announced during the Goal Fest Conclave 2024.

Nifty 50 is trading higher. Although it has not seen a strong follow-through rise above 25,000 over the last couple of days, it is getting strong support around 24,900. That keeps the broader bias positive. Read more

JSW Neo Energy Limited, a wholly-owned subsidiary of JSW Energy Limited, has been awarded an additional 400 MW Wind-Solar Hybrid Power Project by Maharashtra State Electricity Distribution Company Limited (MSEDCL). Read more

Asian shares followed Wall Street futures lower on Thursday as Nvidia’s results disappointed some bullish investors, while the dollar steadied and the Treasury yield curve came within a whisker of turning positive.

Investors now await US weekly jobless claims, which have gained prominence given the Federal Reserve’s focus on the health of the labour market, as well as inflation readings from Germany and Spain, for clues on rate-cut prospects beyond September.

The Indian stock market opened on a tepid note Thursday, with the Nifty 50 index starting at 25,035.30, slightly lower than its previous close of 25,052.35. The Sensex also opened marginally higher at 81,822.56, compared to Wednesday’s close of 81,785.56.

O-P, TP Rs 1764

Core ports growing traffic 3x country over FY19-24 & claimed market share gains of 300bps YoY.

ADSEZ formalised its 2030 aspirations implying a Cagr of 15% & 5-yr rev & port Ebitda Cagrs of 16% YoY over FY24-29

Alternative debt platforms are expected to expand their loan pool for digital native consumer companies as they gear up for a surge in sales in this festive season.

Kotak India EQ Contra has been a steady above-average performer over the years. The fund was rolled out in 2005 and has delivered a compounded annual return of 15.4 per cent (regular plan) since its launch. Read more

Citi on Voda Idea

Buy Call, Target Rs 22

SC Finally Agrees To Hear Voda Idea’s AGR Curative Petition

See SC’s Move As A Material Development As Matter Has Been Long Pending

A Favourable Outcome Could Significantly Reduce Co’s AGR Debt Burden

Potential Benefit Est At Rs 4-5/Sh Or Even Higher (>25% Benefit On Current Stock Price)

Current Base Case Target Of `22 Does Not Factor In Any Reduction In Co’s AGR Dues

The Developments With Voda Idea Could Also Indirectly Benefit Indus Towers Too

Any Relief Would Benefit Bharti Airtel Too, Though Its Salience Is Far More Limited

UBS on Power Financiers

Initiate Buy Call On PFC, Target Rs 670/Sh

Initiate Buy Call On REC, Target Rs 720/Sh

Strong Growth Underpinned By Shift To Renewables And Infrastructure

Key Growth Support From Energy Transition And Infrastructure Financing

Stress Dynamics Different From Previous Cycle

Jefferies on Paytm

Hold Call, Target Rs 420

Co Received Approval From FinMin For Downstream Invst In Payment Gateway Biz

If Granted From RBI, CO Will Be Able To Onboard New Online Merchants

Immediate Business Impact Could Be Marginal

See Diminishing Regulatory Concerns As A Positive

Post RBI Approval, Key Pending Issue Is NPCI Approval For New User Onboarding

MS on Paytm

Equal-Weight Call, Target Rs 500

Co Receives Govt Approval For Past Downstream Invst In Its Fully Owned Arm

Believe It Reduces Regulatory Overhang Incrementally

Will Track The RBI’s Response To Next Steps

MS on HCLTech

Overweight Call, Target Rs 1,705

Management Sounded A Bit Optimistic On The Near-term

Management Sounded A Bit Optimistic In The Financial Services Vertical

Medium-term Outlook For The Industry Is Positive

Co Has Balanced Portfolio And Strong Focus On Driving Wallet Share Gains

Jefferies on HCLTech

Hold Call, Target Rs 1,630

Co Articulated Medium-term Strategy, Aim Is To Deliver Ind Leading Organic Growth

Double-digit Growth In Medium-term Is Expected

Co Views GenAI As Growth And Margin Lever

HCLTech Expects Mid-single Digit Growth In Software As It Focuses On India/Africa

HSBC on Credit Cards

Credit Card Spending Growth Increased To 19% YoY In July 2024

Industry’s Net Credit Card Issuance, Ex-One-Off, Recovered

Spend Market Share Improved For ICICI Bank, Axis Bank

Market Share Lost By SBICard & HDFC Bank

HDFC Bank Card Issuance Was Strong

Citi on Aptus Value Hsg

Buy Call, Target Rs 358

Co Expanding Footprints In Maharashtra And Odisha

Will Add 20 Branches, Primarily In Andhra Pradesh, Telangana In FY25

Management Is Confident Of Sustaining 28-30% AUM Growth

Improved Login Productivity & Vintage Productivity To Further Support Growth

Retention Bonus, Disbursements Linked Incentives To Help Contain Attrition

Annual Outing Program And Referral Incentives To Help Contain Attrition

10-15 bps NIM Pressure Expected Due To Increase In Funding Cost For NBFCs

Citi on Au Small Bk

Neutral Call, Target Rs 684

Retains Credit Cost Guidance At 110-120 bps For FY25

Retains Credit Cost Guidance Despite Higher Industry-Wide MFI Concerns

Confident It Can Double Advances Over 3 Years

Deposits Do Not Act As Constraint To Growth

Deposits Challenge Is Raising Quality Of Deposits At A Cost

Lower NIM Contraction Are Upside Levers With Credit Cost Surprises A Downside Risk

CLSA on Adani Ports

Outperform Call, Target Rs 1,764

Core Ports Growing Traffic 3x Remains A Good Way To Play Indian Economy

Reduced Dollar Debt & Maturity Profile Should Make It A Play On Rupee Depreciation

Its M&A Strategy Looks To Have Paid Off

Gangavaram, Krishnapatnum & Karaikal Clocking FY24 EBITDA Margin Above Mundra

Domestic markets are expected to open on a weak note amid weak global markets. Gift Nifty at 25,010 signals a gap-down opening as Nifty Sept futures on NSE closed at 25,133. According to analysts, today being the expiry day of August contracts at the NSE, the market will be remain volatile, especially in the later part of the day.

Markets regulator SEBI on Wednesday proposed that qualified stock brokers (QSBs) mandatorily offer a facility for trading in the secondary market, using the UPI block mechanism, similar to the ASBA facility.

Additionally, feedback has been sought on whether QSBs can offer a “3-in-1 trading account facility” as an alternative to making the ASBA-like facility mandatory, according to a consultation paper.

Ex-Dividend 20 Aug 2024 (Tomorrow)\u0009

Last date for Cum-Dividend Today\u0009 

\u0009 

Birla Precision Technologies Ltd.\u0009 

Dividend Per Share Rs.0.05\u0009 

Previous day Closing Price – Rs. 84.12\u0009 

\u0009 

Cantabil Retail India Ltd .\u0009 

Dividend Per Share Rs.0.5\u0009 

Previous day Closing Price – Rs. 255.55\u0009 

\u0009 

Career Point Ltd.\u0009 

Dividend Per Share Rs.1\u0009 

Previous day Closing Price – Rs. 528.1\u0009 

\u0009 

Dai-Ichi Karkaria Ltd.\u0009 

Dividend Per Share Rs.2\u0009 

Previous day Closing Price – Rs. 635.65\u0009 

\u0009 

Ganesh Housing Corporation Ltd.\u0009 

Dividend Per Share Rs.11\u0009 

Previous day Closing Price – Rs. 873.4\u0009 

\u0009 

India Tourism Development Corporation Ltd.\u0009 

Dividend Per Share Rs.2.52\u0009 

Previous day Closing Price – Rs. 753.95\u0009 

\u0009 

Jasch Gauging Technologies Ltd\u0009 

Dividend Per Share Rs.2.5\u0009 

Previous day Closing Price – Rs. 647.65\u0009 

\u0009 

Jindal Stainless Ltd.\u0009 

Dividend Per Share Rs.2\u0009 

Previous day Closing Price – Rs. 736.4\u0009 

\u0009 

JTL Industries Ltd\u0009 

Dividend Per Share Rs.0.25\u0009 

Previous day Closing Price – Rs. 237.7\u0009 

\u0009 

Kajaria Ceramics Ltd.\u0009 

Dividend Per Share Rs.6\u0009 

Previous day Closing Price – Rs. 1353.95\u0009 

\u0009 

Kama Holdings Limited\u0009 

Dividend Per Share Rs.16\u0009 

Previous day Closing Price – Rs. 2865.1\u0009 

\u0009 

MOIL Ltd.\u0009 

Dividend Per Share Rs.2.55\u0009 

Previous day Closing Price – Rs. 407.2\u0009 

\u0009 

National Fittings Limited\u0009 

Dividend Per Share Rs.1.5\u0009 

Previous day Closing Price – Rs. 140.2\u0009 

\u0009 

Nava Ltd\u0009 

Dividend Per Share Rs.4\u0009 

Previous day Closing Price – Rs. 969.1\u0009 

\u0009 

NCC Limited\u0009 

Dividend Per Share Rs.2.2\u0009 

Previous day Closing Price – Rs. 326.95\u0009 

\u0009 

Oil India Ltd.\u0009 

Dividend Per Share Rs.2.5\u0009 

Previous day Closing Price – Rs. 718.2\u0009 

\u0009 

Power Finance Corporation Ltd.\u0009 

Dividend Per Share Rs.3.25\u0009 

Previous day Closing Price – Rs. 536.1\u0009 

\u0009 

POCL Enterprises Ltd\u0009 

Dividend Per Share Rs.2.5\u0009 

Previous day Closing Price – Rs. 763.7\u0009 

\u0009 

Prevest Denpro Ltd\u0009 

Dividend Per Share Rs.1\u0009 

Previous day Closing Price – Rs. 610\u0009 

\u0009 

Quick Heal Technologies Ltd\u0009 

Dividend Per Share Rs.3\u0009 

Previous day Closing Price – Rs. 688.25\u0009 

\u0009 

Royal Orchid Hotels Ltd.\u0009 

Dividend Per Share Rs.2.5\u0009 

Previous day Closing Price – Rs. 361.15\u0009 

\u0009 

Salzer Electronics Ltd.\u0009 

Dividend Per Share Rs.2.5\u0009 

Previous day Closing Price – Rs. 1089.8\u0009 

\u0009 

Sarda Energy & Minerals Ltd.\u0009 

Dividend Per Share Rs.1\u0009 

Previous day Closing Price – Rs. 349.6\u0009 

\u0009 

Shyam Metalics And Energy Ltd\u0009 

Dividend Per Share Rs.2.7\u0009 

Previous day Closing Price – Rs. 813.85\u0009 

\u0009 

Shankar Lal Rampal Dye-Chem Ltd\u0009 

Dividend Per Share Rs.0.05\u0009 

Previous day Closing Price – Rs. 125.45\u0009 

\u0009 

Suyog Telematics Ltd\u0009 

Dividend Per Share Rs.1.25\u0009 

Previous day Closing Price – Rs. 1701.8\u0009 

\u0009 

TVS Srichakra Ltd.\u0009 

Dividend Per Share Rs.47.34\u0009 

Previous day Closing Price – Rs. 4762.9\u0009 

\u0009 

Uflex Ltd.\u0009 

Dividend Per Share Rs.1\u0009 

Previous day Closing Price – Rs. 768.65\u0009 

\u0009 

Vijaya Diagnostic Centre Ltd\u0009 

Dividend Per Share Rs.1\u0009 

Previous day Closing Price – Rs. 907.95\u0009 

\u0009 

Swastik Safe Deposit & Investments Ltd.\u0009 

Dividend Per Share Rs.1\u0009 

Previous day Closing Price – Rs. 11.7

The Competition Commission of India on Wednesday approved the merger of the media assets of Reliance Industries and The Walt Disney Co to create the country’s largest media empire worth over ₹70,000 crore. The deal, announced six months ago, faced scrutiny by the anti-trust regulator and the approval comes after the parties proposed certain modifications to the original transaction structure. Read more

Promoter entity to sell upto 4.6pc stake via block deal 

Floor price Rs 197/sh ( 5% discount to CMP) 

180 day lock up for seller 

JEFFERIES sole broker to deal

- Adj EPS: $0.68 (est $0.65)

- Revenue: $30B (est $28.86B)

- Sees Q3 Rev $32.5B +/- 2% (est $31.9B)

- Approves Additional $50B Buyback

(Numbers seen better than estimates, however share fell by 4 percent post market as already stock was trading near to all time high)

Q1FY25 EARNING CALENDAR 29.08.2024

GILLETTE

Q1FY25 EARNING CALENDAR 30.08.2024

APIS, FIRSTCRY, PGCRL, UNIECOM

Canadian Imperial Bank of Commerce (Pre market) (Sector- Financial)

Dollar General Corporation(Pre market) (Sector- Retailer)

Brown Forman Corporation (Pre market) (Sector- FMCG)

Best Buy Co., Inc. (Pre market) (Sector- Retailer)

Burlington Stores, Inc. (Pre market) (Sector- Retailer)

Campbell Soup Company (Pre market) (Sector- FMCG)

Birkenstock Holding plc (Pre market) (Sector- Textiles)

Dell Technologies Inc. (Post market) (Sector- Technology)

Marvell Technology, Inc. (Post market) (Sector- Technology)

Autodesk, Inc. (Post market) (Sector- Technology)

lululemon athletica Inc. (Post market) (Sector- Textiles)

MongoDB, Inc (Post market) (Sector- Technology)

Ulta Beauty, Inc. (Post market) (Sector- Retailer)

Elastic N.V. (Post market) (Sector- Technology)

Gap, Inc. (Post market) (Sector- Retailer)

TENT EURO German Prelim CPI m/m (Expected: 0.0% versus Previous: 0.3%)

18.00 U.S. Unemployment (Expected: 232k versus Previous: 232k)

18.00 U.S. Prelim GDP q/q (Expected: 2.8% versus Previous: 2.8%)

19.30 U.S. Pending Home Sales (Expected: 0.2% versus Previous: 4.8%)

https://play.google.com/store/apps/details?id=com.intelegain.rb

Recent Interview...

As of 18:34 PM Wednesday 28 August 2024

Awfis Space Sol: Amit Ramani, CMD

Awfis Space Solutions: Update On New Deal With Niyati Group, What’s The Expansion Plan For FY25?

https://www.youtube.com/watch?v=i0Bd95YpGmQ

Garden Reach Sh: PR Hari, CMD

Expect Results Of Navy’s Corvette Order Bids In Next 4 Months: Garden Reach Shipbuilders

https://www.youtube.com/watch?v=MWX44mNE-9I

Gravita India: Naveen Prakash Sharma, CEO ED

Guiding For Volume Growth Of 25% Over Next Few Years And Margin At 9-10%: Gravita India

https://www.youtube.com/watch?v=7UG2T3t6N3g

Keystone Realto: Boman Rustom Irani, CMD

Keystone Realtors Launches Verdant Vistas In Thane: Thane & Mumbai Mkts Performing Well, Says Mgmt

https://www.youtube.com/watch?v=k0v-f2lRPmY

Medi Assist: Satish VN Gidugu, CEO & Whole-time Director

Paramount TPA Acquisition Takes Group Market Share To Over 36% From Approx 30%: Medi Assist

https://www.youtube.com/watch?v=Q6H_mGoVd-I

*Medi Assist: Dr Vikram Jit Singh Chhatwal, *

Medi Assist Acquires Paramount TPA | More Acquisition On The Cards? | Dr Vikram Jit Singh Chhatwal

https://www.youtube.com/watch?v=cmAYYYcNoew

Raymond: Amit Agarwal, CFO

Raymond: Company Targetting 16-18% EBITDA CAGR, What’s The Business Outlook For FY25?

https://www.youtube.com/watch?v=0iiVkoG7K2M

RBL Bank: R Subramaniakumar, MD CEO

ULI Will Help In Assessing The Right Borrowing Ability Of The Borrower: RBL Bank

https://www.youtube.com/watch?v=NFK6KC7X5cI

Shriram Trans: Umesh Revankar, Managing Director

NIM Will Be Maintained At 8.8-8.9% & Credit Cost Will Be Below 2%: Shriram Finance

https://www.youtube.com/watch?v=TE4wo4Pl-hY

Awfis Space Sol: Amit Ramani, CMD

Focussed On Operating Efficiency And Leverage: Awfis Space Solutions

https://www.youtube.com/watch?v=TxLe9HlzZKY

Events today…

https://www.researchbytes.com/Default.aspx?cc=event

Results today…

https://www.researchbytes.com/Default.aspx?cc=result

Replays available at www.researchbytes.com

28 August 2024 (Rs. In Crs.)

Turnover: (NSE + BSE)

Cash Volume: 117801.06 + 7849.72 Total: 125650.78

F&O Volume: 697026.57 + 383640.67 Total: 1080667.24

Provisional Cash

FII/FPI: NET SELL: -1347.53 

(13535.83 - 14883.36) 

DII: NET BUY: +439.35 

(12746.57 - 12307.22)

​

Ahead of the critical Annual General Meeting of Godfrey Phillips which is slated for September 6, Samir Modi, part of its promoters’ group, who is locked in a boardroom battle with his mother Bina Modi, said he hopes that the shareholders will vote for the right reasons.

abCoffee is partnering with Shoppers Stop to make the customer experience more memorable, and seamlessly integrate abCoffee’s speciality coffee offerings into Shoppers Stop’s retail environment.

This collaboration marks a milestone in abCoffee’s expansion strategy, opening three new state-of-the-art coffee decks across Delhi, Bengaluru and Mumbai 

Amid intense competition from lab grown diamonds, Tanishq, a leading jewellery brand and De Beers, the world’s leading diamond company, have joined hands to promote natural diamonds across India.

Tata Projects has launched worker upskilling initiatives to empower its workforce and promote sustainable practices within the construction industry. At the company’s project site for Chennai Metro Rail Ltd in Madhavaram, a batch of 25 students are getting trained on metro projects and creating a pool of talented workforce for the industry, said K Ramesh, Assistant Vice President, Projects, Tata Projects Ltd (TPL).

The short-term outlook for Vedant Fashions is bullish. The stock has been moving up for over a week now. So far this week, the 4 per cent rise has taken the share price well above the key resistance level of ₹1,190. The region between ₹1,200 and ₹1,185 will now act as a good support zone and limit the downside. Read more

As many as 2,496 insolvency cases against personal guarantors (PG) to corporate debtors (CD) are awaiting admission at various tribunals across the country, latest IBBI data showed. 

ESAF Small Finance Bank has launched the Inori RuPay Platinum Credit Card, a premium financial product designed in collaboration with the National Payments Corporation of India (NPCI) to offer cardholders exclusive benefits and privileges.

The Competition Commission of India has approved a mega $8.5-billion merger deal involving Reliance Industries, Viacom18, and Disney’s media assets in India.

State Bank of India’s new Chairman Challa Sreenivasulu Setty believes in finding a firm foothold before taking the next step, even as he wants his Bank to grow into the “Best Bank” in the country.

The Securities and Exchange Board of India (SEBI) on Wednesday raised concerns on the rosy picture painted by promoters of small and medium enterprises (SME) tapping the market for a public share sale. Read more