Stock Market on 30 August 2024 | Share Market Updates - Find here all the updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets.
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- August 30, 2024 15:33
Stock market live today: Promoters of Ajmera Realty unpledge 4.7% of outstanding shares as company targets 5x growth by 2025
Promoters of Ajmera Realty & Infra India Ltd (ARIIL) unpledges 17,00,000 shares i.e. 4.7% of the total outstanding shares. Buoyant to achieve the goal of 5x growth by 2025, Ajmera Realty & Infra India Ltd is taking major strides towards the same direction. The company achieved a debt reduction of INR 58 crore during Q1FY25 that has showcased a significant yet sustained growth momentum. This move to unpledge the shares will further strengthen the brand’s perception among existing and potential stakeholders.
Commenting on the same, Mr. Dhaval Ajmera, Director, Ajmera Realty & Infra India Ltd, said, “This is a major strategic step towards reducing the company’s debt and thereby, intensify our focus on holistic growth. This move will empower us with trust from the investors’ community, thereby opening up further opportunities to do business collaborations. Overall, we are bullish about our vision growth and look forward to delivering a stellar performance every quarter.”
- August 30, 2024 15:15
Stock market live news: SSEGL secures ₹62.53 crore MEP contract for Vinfast’s Tamil Nadu factory
Sathlokhar Synergys E&C Global Limited (SSEGL) announced today that it has won a significant contract worth ₹62.53 crore from Vinfast Auto India Private Limited. The order involves executing Mechanical, Electrical, and Plumbing (MEP) work at Vinfast’s upcoming electric vehicle factory in Thoothukudi, Tamil Nadu.
The shares of Sathlokhar Synergys E&C Global Limited (SSEGL) were trading on the NSE at 2.55 pm today at ₹518.95 up by ₹19.05 or 3.81 per cent.
- August 30, 2024 14:58
Share market live today: Transformers and Rectifiers India secures ₹252 crore in new orders; shares surge
Transformers and Rectifiers (India) Limited (TRIL) announced today that it has secured orders totalling ₹252 crore from three domestic entities. The company, a leading transformer manufacturer in India, received orders for various types of transformers and reactors from SPIL (₹91 crore), KEPIPL (₹70 crore), and JSPL (₹91 crore).
The shares of Transformers and Rectifiers (India) Limited (TRIL) were trading at ₹745.20 up by 35.45 or 4.99 per cent today on the NSE at 2:20 pm.
- August 30, 2024 14:31
Share market live today: Greenply Industries faces ₹75.5 Lakh tax demand; stock falls
The shares of Greenply Industries Limited were trading at ₹383.70 down by ₹0.55 or 0.14 per cent on the NSE today at 2.10 pm.
Greenply Industries Limited has received a tax demand of approximately ₹75.5 lakh from the Sales Tax Officer in Delhi. The order, dated August 29, 2024, pertains to the financial year 2019-20 and includes a tax demand of ₹38.97 lakh, interest of ₹32.62 lakh, and a penalty of ₹3.90 lakh.
- August 30, 2024 14:21
Share market live news: Aurionpro Payments launches as online payment aggregator
Aurionpro Payments, a subsidiary of Aurionpro Solutions Limited, announced its launch as an online payment aggregator at the Global Fintech Fest 2024 in Mumbai today. The company received authorization from the Reserve Bank of India to operate in this capacity. Alongside this , Aurionpro Payments has introduced AuroPay, a payment receivable platform for businesses, and AuroCheck, a digital onboarding platform for KYC/KYB checks.
The shares of Aurionpro Solutions Limited were trading at ₹1,922.80 down by ₹29.15 or 1.49 per cent at 1 pm today on the NSE.
- August 30, 2024 13:50
Stock market live updates today: SUN TV: FRANCE 24 SIGNS DISTRIBUTION PACT WITH SUN DIRECT IN INDIA - BBG
- August 30, 2024 13:49
Stock market live updates today: Aurionpro Payments goes live as an online payment aggregator
Aurionpro Solutions: Aurionpro Payments goes live as an online payment aggregator, launches a range of next generation offerings at Global Fintech Fest 2024”
Company goes live as payment aggregator, launches digital onboarding platform and utility payments acceptance through BBPS
This achievement follows the recent authorisation from the Reserve Bank of India and signifies Aurionpro’s strategic entry into the rapidly growing and innovation-driven payments industry.
- August 30, 2024 13:47
Stock market live updates today: Arihant Capital enters into share sale and purchase agreement with Lockton Overseas
Arihant Capital enters into a Share Sale and Purchase Agreement (SPA) with Lockton Overseas Limited(the Acquirer). This agreement involves the sale and transfer of the Company’s entire equity stake in the “ARIHANT INSURANCE BROKING SERVICES LIMITED” (Subsidiary Company)
- August 30, 2024 13:42
Stock market live updates today: Corporate file
1. Anant Raj: ACQUISITION
Investment Committee has approved the acquisition of 100% equity shares of Sheetij Properties Private Limited, engaged in the business of development of real estate and is having Partnership interest in LLP namely Fortunea Infrastructure LLP which has land holding of approx. 11.35 acres in Sector 63A, Gurugram, Haryana, where the Company has one of the largest development projects namely Anant Raj Estate.
2. Electronics Mart: INSTITUTIONAL ENTRY
Motilal Oswal Mutual Fund sold 74L shares at INR 217/share, aggregating to INR 161 Cr and SBI Mutual Fund bought 57.5L shares at INR 217/share, aggregating to INR 125 Cr.
3. Chavda Infra: ORDER
Company has bagged a work order worth INR 72 Cr for Construction of Commercial Building (ORCHID FINSBURY), needs to be completed in 24 months.
4. Patel Engineering: MOU
Company has signed a Memorandum of Understanding (MOU) with Rail Vikas Nigam Limited (RVNL), a Navratna CPSE under the Ministry of Railways, to establish a strategic partnership for jointly executing hydro and other infrastructure projects both in India and internationally. The MOU outlines a framework for collaboration, where both parties will leverage their respective strengths in infrastructure and rail/transport projects.
5. AVP Infracon: ORDER
Company has secured two significant sub-contracts totaling INR 70.8 Cr. The first sub-contract, valued at INR 23.6 Cr, is for the construction of a bypass to Bagalur Town, extending from Kothapalli to Jee Mangalam, and includes utility shifting for NH 207. The second sub-contract, worth INR 47.2 Cr, is for the widening and strengthening of the Kallakurichi-Tiruvannamalai Road (SH-6), upgrading it from a two-lane to a four-lane road, and includes the construction of minor bridges and culverts. Both projects have been awarded by the State Highways Department of Tamil Nadu and are expected to be completed within a year.
- August 30, 2024 13:39
Stock market live updates today: Nifty edges higher, FII long positions reach 70% as market eyes 25,200 resistance
The Indian stock market showed modest gains in mid-day trading on Friday, with the Nifty 50 index up 0.36% at 25,241.80 and the Sensex rising 0.32 per cent to 82,401.20 as of 12:45 PM. The market’s upward momentum comes as Foreign Institutional Investors’ (FIIs) net long positions reached 70 per cent, meeting analyst expectations.
Shilpa Rout, AVP - Derivatives Research at PL Capital - Prabhudas Lilladher, commented on the market situation, saying, “As expected, our target of 68 per cent has been reached. If these levels are sustained, net longs could rise to 78% next.”
- August 30, 2024 13:09
Stock market live updates today: Cinevista soars 10% as ‘Antares’ project secures RERA nod
The shares of Cinevista Ltd were trading at ₹21.47 with a surge of 9.99 per cent today at 12.20 pm on the NSE. They announced yesterday that their joint development project named ‘ANTARES’ with K. Raheja Corp Real Estate Pvt Ltd in Kanjurmarg, Mumbai, has received RERA registration.
This development follows the registration of the Joint Development Agreement between the two companies on May 29, 2023. K. Raheja Corp Real Estate has now obtained all the necessary permissions to begin development work on the project.
- August 30, 2024 12:30
Stock market live updates today: India’s fintech ecosystem will improve the ease of living of the entire world; Will visit the 10th Global Fintech Festival (GFF): Modi said at the 5th edition of GFF
- August 30, 2024 12:29
Stock market live updates today: Sustainable economic growth is our priority; We are emphasising on saturation of financial inclusion: Modi
- August 30, 2024 12:29
Stock market live updates today: We need to stop cyber frauds and increase digital literacy, Modi tells the financial sector regulators
- August 30, 2024 12:27
Stock market live updates today: For the growth of the Fintech sector, we are making all necessary changes at the policy level, including removing angel tax: Modi
- August 30, 2024 12:27
Stock market live updates today: The speed and scale with which Indians have adopted Fintech has no parallel; though fintech products being launched are local, they have global applications: Modi
- August 30, 2024 12:25
Stock market live updates today: Fintech has helped democratise financial services and improved access to credit; Based on digital transactions, street vendors are able to get higher credit: Modi
- August 30, 2024 12:24
Stock market live updates today: CERA SANITARYWARE Buyback
Acceptance Ratio for Single Shareholders will be 1 out of 13.
Maximum One Share will get Accepted in Retail Category that too through LOTTERY
- August 30, 2024 12:24
Stock market live updates today: Fintech has brought down the menace of the parallel economy; People are seeing the benefits of getting associated with the formal economy: Modi
- August 30, 2024 12:23
Stock market live updates today: JanDhan yojana is a great medium for women’s empowement. Now more than 29 crore women have a JD account: Modi
- August 30, 2024 12:09
Stock market live updates today: 53 cr people now have JanDhan accounts. This is equivalent to the population of entire Europe: Modi
- August 30, 2024 12:09
Stock market live updates today: The number of broadband users has increased from 6 cr to 94 cr in the last 10 years: Modi
- August 30, 2024 12:08
Stock market live updates today: Thyrocare to acquire Vimta Labs’ diagnostic business for ₹7 crore
Thyrocare Technologies Limited, a leading healthcare diagnostics company, announced today that it has entered into a Business Transfer Agreement to acquire the diagnostic and pathological services business of Vimta Labs Limited. The all-cash deal, valued at ₹7 crore, is subject to customary conditions precedent.
- August 30, 2024 12:07
Stock market live updates today: RPP Infra Projects secures ₹55.50 crore water supply contract in Tamil Nadu
RPP Infra Projects Limited announced today that it has won a new contract worth ₹55.50 crore from the Avadi City Municipal Corporation in Tamil Nadu. The project, part of the Tamil Nadu Climate Resilient Urban Development Plan (TNCRUDP) “Amrut 2.0” initiative, involves providing 24x7 water supply to pilot zones in Avadi City and improving the existing water supply distribution system.
- August 30, 2024 12:05
Stock market live updates today: In the last 10 years, more than $31 billion has been invested in India’s fintech sector: PM Modi
- August 30, 2024 12:04
Stock market live updates today: RBI’s regulatory initiatives in the Fintech sector reflect its support to innovation with prudence: Das
- August 30, 2024 12:04
Stock market live updates today: Need to build future ready Fintech ecosystem: RBI Governor Shaktikantan Das
- August 30, 2024 11:49
Stock market live updates today: Zydus completes acquisition of 50% stake in Sterling Biotech
Zydus Lifesciences Ltd announced today that its wholly-owned subsidiary, Zydus Animal Health and Investments Ltd, has completed the acquisition of a 50 per cent equity stake in Sterling Biotech Ltd (SBL) from Perfect Day Inc.
The shares of Zydus Lifesciences Limited were trading at ₹1,153.55 up by ₹21.50 or 1.90 per cent as of 11.15 am today on the NSE.
- August 30, 2024 11:33
Stock market live updates today: SpiceJet shares tumble over 6 per cent after DGCA places the airline under enhanced surveillance
Shares of SpiceJet on Friday morning tumbled over 6 per cent after aviation watchdog DGCA decided to place the crisis-hit firm under enhanced surveillance.
The stock tanked 6.38 per cent to Rs 62 on the BSE after a weak beginning.
DGCA on Thursday decided to place SpiceJet under enhanced surveillance that will entail increased spot checks and night surveillance to ensure safety of the airline’s operations.
Based on reports of cancellation of flights and financial stress being experienced by SpiceJet, DGCA said it conducted a special audit of the airline’s engineering facilities on August 7 and 8 and certain deficiencies were found during the audit.
“In light of the past record and the special audit carried out in August 2024, SpiceJet has once again been placed under enhanced surveillance with immediate effect. “This would entail an increase in the number of spot checks/night surveillance with a view to ensure safety of operations,” the Directorate General of Civil Aviation (DGCA) said in a release on Thursday.
In 2023 also, the regulator had placed SpiceJet under enhanced surveillance.
The no-frills carrier has been grappling with multiple headwinds, including financial and legal woes, and is also in the process of raising funds.
- August 30, 2024 11:01
Stock market live news: Aditya Birla Sun Life AMC names Pradeep Sharma as CFO
- August 30, 2024 10:55
Share market live today: RPP Infra wins order worth ₹55 crore
- August 30, 2024 10:54
Share market live news: Nifty expected to reach 26,820 in the next 12 months: PL Capital- Prabhudas Lilladher
PL Capital- Prabhudas Lilladher, one of the most trusted financial services organisations in India, in its latest India Strategy Report stated that NIFTY’s EPS projections has been revised downward by 0.3% for FY25 and 0.4% for FY26, with an expected CAGR of 17.8% over FY24-26, resulting in EPS estimates of ₹1,247 and ₹1,411 for FY25 and FY26, respectively. PL Capital’s EPS estimates align with the consensus for FY25 but are 2% lower for FY26. Currently, NIFTY is trading at 18.9 times its 1-year forward EPS, which is almost on par with its 15-year average of 19 times.
PL Capital values Nifty at 15-year average PE (19x) with March 26 EPS of ₹1,411 and arrives at 12-month target of 26,820, revised higher from earlier target of 26,398. In a bull case scenario, PL Capital values Nifty at PE of 20.2x and arrives at a target of 28,564. In a bear case scenario, Nifty may trade at a 10% discount to a long-period average with a target of 24,407.
Since PL Capital’s last India strategy report which was released on 11th July 2024, NIFTY has delivered a return of 1.6% despite rising volatility amidst deteriorating geopolitical situation as Indian markets were supported. Markets have experienced extreme volatility due to the Japanese carry trade and geopolitical uncertainty. However, strong DII inflows continue to drive the markets, even as FII selling has subsided. Demand conditions are mixed, but there are high expectations for a festival season revival, supported by favourable monsoon conditions, a strong infrastructure spending push by the GOI, and a revival in private capex. Additionally, the increasing likelihood of an interest rate cut by the FED and overall inflation dropping to below 4% raises hopes for a potential repo rate cut in the second half of FY25.
The return variation between large-cap and mid-cap indices has significantly narrowed over the past three months. Meanwhile, the return gap with small-cap indices remains around 6%, as small caps continue to outperform large caps. PL Capital anticipates that the return differential between large caps and mid-caps will remain low. FII outflows have abated with 33bn inflows in the last 6 weeks while DII inflows, at ₹608bn, continue to remain strong and support markets.
Large cap and mid/small cap returns are showing convergence.
- August 30, 2024 10:54
Stock market live today: ORIENT GREEN POWER PROMOTER RELEASE BIG PLEDGE OF 11 CR SHARES OR 11.2% VIA ON AUG 27
- August 30, 2024 10:53
Share market live today: Stock to focus: Schaeffler India
SCHAEFFLER INDIA: SCHAEFFLER REPXPERT MOBILE TRAINING VAN IS BACK ON ITS KNOWLEDGE TRAIL. THIS PROGRAM AIMS TO UPSKILL MECHANICS ACROSS THE NATION, SPECIALLY DESIGNED FOR THE COMMERCIAL VEHICLE SEGMENT
- August 30, 2024 10:51
Stock market today: TORRENT PHARMA’S INDRAD FACILITY RECEIVES USFDA EIR WITH VOLUNTARY ACTION INDICATED CLASSIFICATION, SUCCESSFULLY CLOSING THE INSPECTION
- August 30, 2024 10:51
Stock market live updates: Stock to focus: Religare Enterprises
RELIGARE ENT ; Clarification on News Reports “Sebi issues notice to Religare Ent’s Rashmi Saluja
Co. Says It is a fact that SEBI has issued a show-cause notice (SCN) dated 26.07.2024 to Dr. Rashmi Saluja in respect of alleged Insider Trading.
Co. Says Considering that it is only a show cause notice, the outcome of which cannot be determined, there is no material impact on the Company.
- August 30, 2024 10:50
Stock market live news: KEI IND says no plans to enter adjacent electrical segment like switches and switchgears
- August 30, 2024 10:48
Stock market live news: GRSE signs MoU with NHIDCL for Double-Lane Modular bridges
Garden Reach Shipbuilders & Engineers Ltd (GRSE) announced today that they have signed a Memorandum of Understanding (MoU) with National Highway Infrastructure Development Corporation Ltd (NHIDCL) yesterday, on August 29, 2024, for the fabrication, supply, and launching of Double-Lane Class 70 modular steel and Bailey bridges. The agreement aims to enhance connectivity in critical forward areas along India’s borders, facilitating troop and equipment deployment.
- August 30, 2024 10:37
Stock market live updates: Bank Nifty Prediction today – Aug 30, 2024: Index testing the resistance
Bank Nifty began today’s session with a gap-up at 51,437 versus yesterday’s close of 51,153. The index moderated after opening and is now at 51,340, up nearly 0.4 per cent.
- August 30, 2024 10:30
Stock market live updates today: Great Eastern Shipping stock falls after announcing sale of Supramax Dry Bulk Carrier
The shares of the Great Eastern Shipping Company Limited were trading at ₹1,293.80 down by ₹6.75 or 0.52 per cent on the BSE today at 10 am following their announcement yesterday, that it has contracted to sell its Supramax Dry Bulk Carrier, Jag Rani, to an unaffiliated third party.
- August 30, 2024 10:28
Stock market live updates today: Nifty prediction today – August 30, 2024: Wait for dips to go long
Nifty 50 is trading stable after opening with wide gap-up today. It opened the day at 25,249.70 and is now trading at 25,232, up 0.31 per cent. The advances/declines ratio is at 38:12. This is positive. Read more
- August 30, 2024 10:22
Stock market live updates today: Rupee rises 7 paise to 83.82 against US dollar in early trade
Rupee appreciated 7 paise to 83.82 against the US dollar in morning trade on Friday, supported by significant foreign fund inflows and a positive trend in domestic equities. Read more
- August 30, 2024 10:20
Stock market live updates today: Nifty, Sensex scale new heights on strong GDP outlook, global cues
Indian equity benchmarks Nifty and Sensex opened at record highs on Friday, buoyed by positive global cues, strong domestic economic outlook, and substantial foreign investment inflows. The Nifty 50 index opened at 25,249.70, while the Sensex began trading at 82,637.03. Read more
- August 30, 2024 10:18
Stock market live updates today: STEEL EXCHANGE INDIA: CO SAYS ISSUE OF CONVERTIBLE WARRANTS FOR UP TO 999M RUPEES
- August 30, 2024 10:16
Stock market live updates today: PRESTIGE ESTATES LAUNCHES QIP OF EQUITY SHARES AT FLOOR PRICE FOR THE ISSUE OF RUPEES 1,755.09 PER SHARE
- August 30, 2024 10:13
Stock market live updates today: GARDEN REACH SHIPBUILDERS: CO SIGNS MOU FOR LAUNCHING OF DOUBLE-LANE CLASS 70 MODULAR STEEL & BAILEY BRIDGES
- August 30, 2024 10:13
Stock market live updates today: Sugar shares at Glance
1. EID Parry
- CMP Rs: 815.20
- P/E: 16.39
- Market Cap: Rs. 14,456.99 Cr.
2. Balrampur Chini
- CMP Rs: 578.80
- P/E: 22.01
- Market Cap: Rs. 11,692.17 Cr.
3. Sh. Renuka Sugar
- CMP Rs: 47.41
- P/E: N/A
- Market Cap: Rs. 10,099.60 Cr.
4. Triven. Engg. Ind.
- CMP Rs: 439.10
- P/E: 26.80
- Market Cap: Rs. 9,607.50 Cr.
5. Bajaj Hindusthan
- CMP Rs: 40.74
- P/E: N/A
- Market Cap: Rs. 5,209.03 Cr.
6. Bannari Amm. Sug.
- CMP Rs: 3102.65
- P/E: 26.70
- Market Cap: Rs. 3,875.11 Cr.
7. Dalmia Bharat
- CMP Rs: 441.60
- P/E: 13.45
- Market Cap: Rs. 3,575.15 Cr.
8. DCM Shriram Inds
- CMP Rs: 196.56
- P/E: 14.27
- Market Cap: Rs. 1,707.50 Cr.
9. Avadh Sugar
- CMP Rs: 706.85
- P/E: 12.36
- Market Cap: Rs. 1,416.91 Cr.
10. Dhampur Sugar
- CMP Rs: 209.14
- P/E: 15.14
- Market Cap: Rs. 1,370.21 Cr.
11. Dwarikesh Sugar
- CMP Rs: 73.59
- P/E: 41.12
- Market Cap: Rs. 1,366.43 Cr.
12. Uttam Sug. Mills
- CMP Rs: 340.20
- P/E: 12.03
- Market Cap: Rs. 1,295.22 Cr.
13. Magadh Sugar
- CMP Rs: 873.20
- P/E: 10.97
- Market Cap: Rs. 1,231.69 Cr.
14. Zuari Industries
- CMP Rs: 362.55
- P/E: 74.18
- Market Cap: Rs. 1,083.00 Cr.
15. Ugar Sugar Works
- CMP Rs: 83.33
- P/E: 50.66
- Market Cap: Rs. 934.73 Cr.
16. Dhampur Bio
- CMP Rs: 135.23
- P/E: 26.40
- Market Cap: Rs. 896.32 Cr.
17. Davangere Sugar
- CMP Rs: 6.94
- P/E: 54.10
- Market Cap: Rs. 652.94 Cr.
18. KCP Sugar & Inds.
- CMP Rs: 53.84
- P/E: 7.32
- Market Cap: Rs. 612.84 Cr.
19. Mawana Sugars
- CMP Rs: 125.55
- P/E: 10.09
- Market Cap: Rs. 491.19 Cr.
20. Kothari Sugars
- CMP Rs: 55.56
- P/E: 41.64
- Market Cap: Rs. 460.53 Cr.
21. Sakthi Sugars
- CMP Rs: 38.42
- P/E: N/A
- Market Cap: Rs. 456.97 Cr.
22. Ponni Sug. Erode
- CMP Rs: 510.60
- P/E: 10.75
- Market Cap: Rs. 440.70 Cr.
23. KM Sugar Mills
- CMP Rs: 38.70
- P/E: 15.48
- Market Cap: Rs. 354.68 Cr.
24. Vishwaraj Sugar
- CMP Rs: 18.21
- P/E: 69.38
- Market Cap: Rs. 341.33 Cr.
25. Rana Sugars
- CMP Rs: 21.79
- P/E: 23.07
- Market Cap: Rs. 334.47 Cr.
26. SBEC Sugar
- CMP Rs: 65.02
- P/E: N/A
- Market Cap: Rs. 309.82 Cr.
27. Rajshree Sugars
- CMP Rs: 73.42
- P/E: 21.81
- Market Cap: Rs. 243.61 Cr.
28. Sir Shadi Lal
- CMP Rs: 386.15
- P/E: N/A
- Market Cap: Rs. 202.73 Cr.
29. Indian Sucrose
- CMP Rs: 105.00
- P/E: 5.39
- Market Cap: Rs. 182.45 Cr.
30. Kesar Enterprise
- CMP Rs: 161.65
- P/E: N/A
- Market Cap: Rs. 162.94 Cr.
- August 30, 2024 10:12
Stock market live updates today: TOMORROW’S IMPORTANT BOARD MEETING AUG 31
PENND RAISING :- HILTON METAL, MAX ESTATES, SABDHAV
BONUS:- NBCC
RESULT:- NAGARJUNA FERTILISERS
- August 30, 2024 10:12
Stock market live updates today: IMPORTANT BOARD MEETING SEP 2 (MONDAY)
FUND RAISING :- HINDWARE HOME INNOVATION, INCREDIBLE IND, MIRC ELECTRONICS, SUMIT WOODS
DIVIDEND :- VEDANTA
- August 30, 2024 10:11
Stock market live updates today: TODAY’S IMPORTANT BOARD MEETING AUG 30
FUND RAISING :- FORTIS HEALTHCARE
BUYBACK:- INSECTICIDES
DIVIDEND:- RADHIKA JEWEL
RESULT:- UNICOMMERCE ESOLUTIONS, ASIAN HOTELS, BRAINBEES SOLUTIONS
- August 30, 2024 10:11
Stock market live updates today: Amitabh Bachchan’s family office acquires stake in Swiggy ahead of IPO.
- August 30, 2024 10:10
Stock market live updates today: NOMURA ON RELIANCE IND
(CMP: 3,042)
MAINTAIN BUY
TARGET: 3,600
Focussed On Growth; Co To Double In The Next 5-7 Years
Launch Of Jio Brain And Jio Cloud To Lead The AI Integration Journey
See Robust Growth Across Segments Driving 3-year EBITDA CAGR OF 13%
EBITDA CAGR Will Further Be Boosted By A Sharp Increase In FCF Generation
EBITDA CAGR Will Further Be Boosted By Sharp Decline In Net Debt Levels
- August 30, 2024 10:10
Stock market live updates today: Suprajit Engineering buy back of 15 lk shares at a price of 750 per share for a total consideration of 112.5 cr to open on Sept 2 and close on Sept 6
- August 30, 2024 10:09
Stock market live updates today: MS on OMCs
Overweight Call On IOC, Target Raised To Rs 205/Sh
Overweight Call On BPCL, Target Raised To Rs 410/Sh
Overweight Call On HPCL, Target Raised To Rs 506/Sh
Global Tailwinds From Oversupplied Oil Markets Point To The Next Leg Of Outperformance
Gas Taking Market Share From Diesel In China Points To The Next Leg Of Outperformance
Domestic Tailwinds Of Strong Fuel Demand, Improving FCF Point To Next Leg Of Outperformance
HPCL Is Key Overweight, As It Exits An Investment Cycle, Followed By BPCL
- August 30, 2024 10:09
Stock market live updates today: Sandur Manganese board to meet on September 6 to mull fundraising
- August 30, 2024 10:08
Stock market live updates today: GE Shipping is to sell its 2011 built Supramax Dry Bulk Carrier, Jag Rani, to an unaffiliated third party. The vessel will be delivered to the buyer by Q3 FY25
- August 30, 2024 10:05
Stock market live updates today: SCHAEFFLER INDIA REPXPERT MOBILE TRAINING VAN BACK ON KNOWLEDGE TRAIL TO UPSKILL MECHANICS ACROSS NATION, SPECIALLY DESIGNED FOR COMMERCIAL VEHICLE SEGMENT
- August 30, 2024 10:04
Stock market live updates today: HINDUSTAN OIL EXPLORATION SAYS BOTH THE WELLS D1 AND D2 IN BLOCK B-80, HAVE BEEN ACTIVATED FOR PRODUCTION AND ARE UNDER STABILIZATION (STOCK PRICE SUPPORTIVE)
- August 30, 2024 10:03
Stock market live updates today: US FDA classifies Torrent Pharma’s Gujarat facility inspection as voluntary action indicated (Supportive for stock prices)
- August 30, 2024 10:02
Stock market live updates today: Brokerage recommendations
Nomura On Reliance Ind
Buy Call, Target Rs 3,600
Focused On Growth; Co To Double In The Next 5-7 Years
Launch Of Jio Brain And Jio Cloud To Lead The AI Integration Journey
See Robust Growth Across Segments Driving 3-year EBITDA CAGR Of 13%
EBITDA CAGR Will Further Be Boosted By A Sharp Increase In FCF Generation
EBITDA CAGR Will Further Be Boosted By Sharp Decline In Net Debt Levels
Jefferies on Reliance Ind
Buy Call, Target Rs 3,500
AGM Focused On Jio, With Traction In Airfiber, Foray Into Data Center
Co Expects Retail To Emerge From Tough Patch To Deliver Doubling Of Rev/EBITDA In 3-4 Yrs
Doubling Of Rev/EBITDA In 3-4 Yrs For Retail Is Ahead Of Our Estimate
New Energy Commissioning Could See Delays That Push Out Value Discovery To FY27
Board Will Consider A Bonus Issue
CLSA on Reliance Ind
Outperform Call, Target Rs 3,300
Co Targets To Double Its Size In The Next Six Years; No Hints About IPO For Jio Or Retail
Jio Aims To Add 1 m Airfiber Subscribers Every Month
Prioritising Investment Across O2C And New Energy Verticals
Macquarie on Reliance Ind
Neutral Call, Target Rs 2,750
New Energy The New Growth Engine, AI, Disney+, Bonus Shares
New Energy Division To Deliver Cash Flows That Are Less Cyclical
Potential Earning Capacity In Next 5-7 Yrs Similar To Existing O2C Business
Jio & Retail Targetting To Double Revenue And EBITDA In Next 3-4 Years
Jio Cinema Growth To Be Enhanced By Merger With Disney+ Hotstar
JioMart Hyperlocal Delivery With 1,300 Smart Points Noted As A Competitive Edge
Citi on Bharti Hexacom
Initiate Buy, Target Rs 1,405
Pure-Play Regional Telecom Operator With Healthy Balancesheet
Forecast A 3-Yr EBITDA CAGR Of 26% Vs 20%/22% For Bharti’s India/Mobile Ops & 24% For Voda Idea
See Net Debt/EBITDA Declining To 0.9/0.3x By FY26/27
Declining Net Debt/EBITDA Led By Strong FCF Generation
Declining Net Debt/EBITDA Opens Up Room For Upside To Payouts
Nomura on Lupin
Buy Call, Target Raised To Rs 2,427
Expect Improvement In Growth & Profitability Across Key Mkts, Likely To Attract Premium To Peers
US Generics Present Strong Support To Near-term Earnings
Co Has Gained Traction With A Few Complex Injectable Filings
Few Complex Injectable Filings Likely To Be Commercialised Over Next Two Years
There Are Specific Litigation-Dependent Upsides That Can Further Support Near-Term Earnings
Expect Narrative On US Prospects To Dominate Downside Risk In Specific Products Like Albuterol MDI
Factor In Higher Rev Contribution From Mirabegron In FY25 & Tolvaptan In FY26/27 Vs Earlier Est
Revise FY25/26 EPS Upwards By 28%/54%
MS on OMCs
Overweight Call On IOC, Target Raised To Rs 205/Sh
Overweight Call On BPCL, Target Raised To Rs 410/Sh
Overweight Call On HPCL, Target Raised To Rs 506/Sh
Global Tailwinds From Oversupplied Oil Markets Point To The Next Leg Of Outperformance
Gas Taking Market Share From Diesel In China Points To The Next Leg Of Outperformance
Domestic Tailwinds Of Strong Fuel Demand, Improving FCF Point To Next Leg Of Outperformance
HPCL Is Key Overweight, As It Exits An Investment Cycle, Followed By BPCL
Bernstein on Telecom
Outperform Call On Bharti Airtel
Target Raised To Rs 1,740 From 1,600
Telecom Has Seen A Favorable Market Structure Led By Consolidation Over Years
Strong Players - Jio & Bharti Airtel Continue To Gain Share With Jio (45%) & Bharti (37%) Rev Sh
Expect Market To Consolidate Further, As VI (Not Covered) Subscriber Churn Remains High
Jio Is On Path To Reach Nearly 500 Million Subscribers And A 50% Share
CITI on UPL
Buy, TP Rs 640
Co’s guidance of 4-8% rev growth & >50% EBITDA growth in FY25 does not factor in any improvement in pricing vs 4QFY24 level
With global destocking nearing completion, gross/contribution margins off trough believe a rerating is likely
Jefferies on Real Estate
Transient volume weakness
Resi markets slowed in June-July 2024 after a strong April-May; though vols in top 7 cities are still +5% FYTD.
Low inventory levels suggest that overall market remains healthy
Prefer Lodha, GPL, DLF, Sunteck
Macquarie on 2Ws
Growth on fast track, TVS top pick
Teens 2W industry volume growth in FY25E.
TVS’ diversified segment exposure, new E2W launches, & margin upside pose upside earnings risk
Macquarie on USL
U-P, TP Rs 1100
United Spirits saw another qtr of stronger YoY sales growth in prestige segment vs Pernod India albeit weaker than local peer, Radico Khaitan
While USL market share gains are encouraging, guided moderation in sales momentum in 2Q makes us cautious
HSBC on Maruti
Buy, TP Rs 14500
PV demand weakness is visible in increased inventory & discounting across OEMs and models
Not very optimistic for festive season this year & hence cut FY25/26 volume estimates for MSIL
However, stay Buy due to undemanding vals
- August 30, 2024 10:01
Stock market live updates today: Silver flat at $29.42
Silver prices were slightly changed, but were on track for a monthly gain on expectations of a US interest rate cut in September, while traders awaited vital US inflation data for more insight. The dollar is expected to fall to its lowest monthly level since November of last year, as dovish Fed forecasts weigh heavily. Last quarter, the United States’ GDP grew at a 3.0% annualised rate, up from the 2.8% rate reported last month, while consumer spending increased to 2.9%, from 2.3%. Israel informed the United States that an early examination determined that rounds were fired at a World Food Programme vehicle in the Gaza Strip as a result of a “communication error” between Israeli armed units. Bullion is viewed as a hedge against geopolitical and economic uncertainty, and it thrives in low-interest-rate environments.
Key economic data slated for release includes German Retail Sales m/m, German Unemployment Change from Euro Zone and CPI Flash Estimate y/y, Core PCE Price Index m/m, Core CPI Flash Estimate y/y from US Zone.
- August 30, 2024 10:01
Stock market live updates today: Gold gains $2516.75
Gold prices regained traction, hovering near the record high of $2,525 set earlier this week, as anticipation of rate cuts from the world’s top monetary authorities decreased the opportunity cost of holding non-interest-bearing metal assets. New statistics from the United States revealed that the Fed’s favoured inflation gauges, the headline and core PCE price indices, were both revised lower, indicating sharper slowdowns in the second quarter. The market continues to price 100 basis points in rate cuts through the central bank’s three remaining sessions this year, remaining constant despite the increased revision to US GDP.
Key economic data slated for release includes German Retail Sales m/m, German Unemployment Change from Euro Zone and CPI Flash Estimate y/y, Core PCE Price Index m/m, Core CPI Flash Estimate y/y from US Zone.
- August 30, 2024 10:00
Stock market live updates today: AVP INFRACON WINS ORDER WORTH 70.8 CR RUPEES
- August 30, 2024 10:00
Stock market live updates today: STEEL STRIPS WHEELS SAYS CALLING-OFF DISCUSSIONS FOR JV IN INDIA WITH REDLER TECHNOLOGIES
- August 30, 2024 09:59
Stock market live updates today: LUPIN LAUNCHES DOXORUBICIN HYDROCHLORIDE LIPOSOME INJECTION IN THE US, with ESTIMATED ANNUAL SALES OF $40.9M IN IQVIA MAT JUNE 2024
- August 30, 2024 09:58
Stock market live updates today: 360 ONE WAM SUBSIDIARY GRANTED A BROKER-DEALER LICENSE FROM FINANCIAL INDUSTRIAL REGULATORY AUTHORITY (FINRA)
- August 30, 2024 09:58
Stock market live updates today: Earnings calendar
Q1FY25 EARNING CALENDAR 30.08.2024
APIS, FIRSTCRY, PGCRL, UNIECOM
Q1FY25 EARNING CALENDAR 31.08.2024
NAGAFERT
- August 30, 2024 08:42
Stock market live updates today: Nifty, Sensex to sustain positive momentum despite 11 successive days of gains
Domestic markets are expected to continue their momentum thanks to positive global sentiment. The Nifty 50 has risen for 11 consecutive days, its longest winning streak since October 2007, according to market participants.
Gift Nifty at 25,290 signals a positive bias for the domestic market. Despite the strong rally in heavyweights, analysts expect the momentum to continue, but sound macroeconomic condition.
- August 30, 2024 08:17
Stock market live updates today: Economic Calendar – 30.08.2024
14.30 EURO CPI Flash Estimate y/y (Expected: 2.2% versus Previous: 2.9%)
18.00 U.S. Core PCE Price Index m/m (Expected: 0.2% versus Previous: 0.2%)
19.30 U.S. Revised Consumer Sentiment (Expected: 68.0 versus Previous: 67.8)
Economic Calendar – 31.08.2024
07.00 CHINA Manufacturing PMI (Expected: 49.5 versus Previous: 49.4)
Economic Calendar – 01.09.2024
TENT INDIA August month Auto Sales
Economic Calendar – 02.09.2024
U.S. Market Holiday
- August 30, 2024 07:30
Stock market live updates today: Pfizer, HCMCT Manipal Hospital partner for adult vaccination
Drug maker Pfizer India and HCMCT Manipal Hospital have collaborated on a dedicated adult vaccination centre at the Dwarka (New Delhi) hospital, in the second such partnership this month.
- August 30, 2024 07:27
Stock market live updates today: Zomato faces GST demands in Tamil Nadu, West Bengal
Zomato Limited, the Indian food delivery giant, disclosed it has received two GST-related demands for the financial year 2019-20. The tax demands, from authorities in Tamil Nadu and West Bengal, allege excess input tax credit usage and non-payment of GST on delivery charges, respectively.
- August 30, 2024 07:24
Stock market live updates today: HFCL upgrades BSNL broadband network
HFCL Limited has completed one of the world’s largest control and user plane separation (CUPS) architecture-based broadband network gateway (BNG) deployments for Bharat Sanchar Nigam Limited (BSNL). The project, valued at about ₹390 crore, was initiated in October 2022.
- August 30, 2024 07:22
Stock market live updates today: RIL to reward shareholders with 1:1 bonus issue; stock rises 38% from October low
Rewarding shareholders has been central to Reliance Industries’ investor expectation strategy, and its plans to announce a bonus issue—its fifth since inception—are in keeping with that. During market hours and just a little before its 47th annual general meeting, the company announced that its board would meet on September 5 to consider issuing bonus shares in the ratio of 1-for-1 by capitalizing its reserves.
- August 30, 2024 07:17
Stock market live updates today: Reliance Retail aims to double biz in next 3-4 years, says Isha Ambani
Country’s leading retailer Reliance is aiming to double its business in next three to four years, its Director Isha Ambani said at the AGM. For the financial year ended March 31, 2024, Reliance Retail recorded a gross revenue of ₹3.06 lakh crore (USD 36.8 billion), a growth of 17.8 per cent over the previous year.
- August 30, 2024 07:15
Stock market live updates today: IHCL unveils Gateway brand, targets 100 hotels by 2030
Indian Hotels Company Limited (IHCL) unveiled the reimagined Gateway brand on Thursday as part of its strategy to tap growth opportunities in micro markets in metros and tier II/III cities.
- August 30, 2024 07:12
Stock market live updates today: GIFT Nifty which stands as a new benchmark to the growth story of Indian equity market,
GIFT Nifty, which stands as a new benchmark to the growth story of Indian equity market, recorded a new milestone and has added yet another feather in its cap in terms of achieving highest Open Interest of US $18.29 billion on August 27, 2024, surpassing its previous Open Interest record of US $18.22 billion on June 26, 2024. The continuous increase in open interest highlights the broader participation and reflects the trust of the global investors in GIFT Nifty.
Trading turnover on NSE IX has been growing exponentially since commencement of a full-scale operation of GIFT Nifty on July 3, 2023. Since the first day of full-scale operations, GIFT Nifty has witnessed a total cumulative volume of over 24.71 million contracts with total cumulative turnover of US $1.05 trillion till August 27, 2024.
- August 30, 2024 07:11
Stock market live updates today: GILLETTE INDIA LTD. | CMP Rs. 7676 | M Cap Rs. 25012 Cr | 52 W H/L 8000/5371
(Nirmal Bang Retail Research)
Result is above expectations
Revenue from Operations came at Rs. 645.3 Cr (-5.2% QoQ, 4.2% YoY) vs expectation of Rs. 670.6 Cr, QoQ Rs. 680.7 Cr, YoY Rs. 619.4 Cr
EBIDTA came at Rs. 174.5 Cr (8.8% QoQ, 21.5% YoY) vs expectation of Rs. 139.6 Cr, QoQ Rs. 160.3 Cr, YoY Rs. 143.7 Cr
EBITDA Margin came at 27% vs expectation of 20.8%, QoQ 23.6%, YoY 23.2%
Adj. PAT came at Rs. 116 Cr vs expectation of Rs. 89.4 Cr, QoQ Rs. 99.1 Cr, YoY Rs. 91.8 Cr
Quarter EPS is Rs. 35.6
Stock is trading at P/E of 54.6x FY25E EPS
- August 30, 2024 07:10
Stock market live updates today: 📊 Post Market Update: 29th August 2024 - 3:45 PM 📈
Indian equity indices ended on a positive note today, with key movements in major sectors and individual stocks.
- Nifty 50: Closed flat at 25,151
- Sensex: Closed at 82,134
Market Volatility
- India VIX: Down by 1.15%, now at 13.79
- Put Call Ratio: 1.21
Mid Cap & Small Cap Indices
- Mid Cap: Down by 0.45%, closed at 21,741
- Small Cap: Down by 0.57%, closed at 18,077
Sectoral Highlights
- Nifty Oil & Gas: Best performing sector, up by 0.94%
- Nifty FMCG: Up by 0.72%
- Nifty Pharma & Nifty Metal: Both down by 0.48%
Top Gainers
- TV18 Broadcast: +7%, closed at ₹51
- Whirlpool: +5%, closed at ₹2,195
Top Loser
- Welspun Living: Down by over 5%
In the News
- Moody’s: Raises India’s 2024 GDP growth forecast to 7.2% from 6.8%.
- Reliance Industries: Shares jump 2.6% ahead of board meeting on September 5th to consider a 1:1 bonus issue.
- Bajaj Twins: Shares of Bajaj Finance and Bajaj Finserv gained up to 3% on reports of Bajaj Housing Finance’s upcoming IPO, aiming to raise ₹7,000 crore.
- Whirlpool of India: Stock hits a 52-week high with a 7% surge, marking an 86% increase over six months, following the sale of a 24% stake by Whirlpool Mauritius Limited.
- Sonata Software: Shares rallied over 7% to ₹671 after securing a multi-million dollar IT outsourcing contract from a US healthcare company.
- Reliance Industries’ Media Arms: TV18 Broadcast and Network18 Media & Investments surged as much as 13% after CCI approved the merger with Disney’s Indian media assets.
- JM Financial: Shares surged over 11% following a report of a 6.2% YoY dip in net profit and a 5.4% drop in revenue for the quarter ended June 30, 2024.
- August 30, 2024 07:09
Stock market live updates today: Government removes cap on sugar diversion for ethanol production for ESY 2024-25
Sugar stock may be a blast today 💥🔥
Fav Sugar shares
EID Parry
Balrampur chinni
Triveni eng
Shree Renuka
Avadh
Magadh
Bajaj Hindustan
Balrampur Chini
- August 30, 2024 07:08
Stock market live updates today: Citi: Bharti Hexacom (BHAX.NS) | Buy
Initiate at Buy with a Rs1,405 TP: Attractive Midcap Telco with Strong Growth Outlook
- August 30, 2024 07:08
Stock market live updates today: Fund Flow Activity
29 August 2024 (Rs. In Crs.)
Turnover: (NSE + BSE)
Cash Volume: 131401.72 + 20667.61 Total: 152069.33
F&O Volume: 601562.29 + 1841054.58 Total: 2442616.87
Provisional Cash
FII/FPI: NET BUY: +3259.56
(27036.06 - 23776.5)
DII: NET BUY: +2690.85
(19919.09 - 17228.24)
- August 30, 2024 07:07
Stock market live updates today: Infosys: Joins Stanford HAI Affiliate Program To Accelerate Enterprise AI Research Initiatives (Supportive for stock prices)
- August 30, 2024 07:07
Stock market live updates today: GILLETTE INDIA: Q1 EBITDA 1.74B RUPEES VS 1.44B (YOY) || Q1 EBITDA MARGIN 27.05% VS 23.19% (YOY) (NUMBERS SEEN BETTER THAN ESTIMATES)
- August 30, 2024 07:06
Stock market live updates today: SEBI approves IIHL buyout of Invesco’s PMS biz
Capital market regulator SEBI has granted approval to IndusInd International Holdings for acquiring the portfolio management services business of Invesco AMC. SEBI’s approval marks the completion of a crucial phase in IIHL’s 60 per cent acquisition of Invesco AMC and leaves only one final regulatory approval before the transaction can be completed, sources said.
- August 30, 2024 07:04
Stock market live updates today: IPO-bound Swiggy appoints former Flipkart VP Amitesh Jha as Instamart head
IPO-bound Swiggy has appointed Amitesh Jha, former Senior Vice President at Flipkart, as head of Instamart, the company’s quick commerce business. Phani Kishan, co-founder and current head of Swiggy Instamart, will transition to a larger role within the company, said the company.
- August 30, 2024 07:02
Stock market live updates today: Positive response to Small and Medium REITs: SEBI Chief
Small and medium REITs have received a positive response from the industry, SEBI chairperson Madhabi Puri Buch said on Thursday. Buch said that there is an imbalance of power between large institutions and small investors, and regulations have helped foster trust in the system.
- August 30, 2024 07:00
Stock market live updates today: NBCC sells commercial and office space worth over ₹14,000 cr
NBCC (India) Ltd has sold 100 per cent of the office space inventory at the World Trade Centre (WTC) Nauroji Nagar in New Delhi, valued at ₹13,408.7 crore, and 100 per cent of the retail and commercial space at Downtown Sarojini Nagar, valued at ₹1.390.92 crore.
- August 30, 2024 06:54
Stock market live updates today: Stock market live updates today:
Insurance behemoth Life Insurance Corporation of India (LIC) on Thursday presented the Central Government with a dividend cheque for ₹3,662.17 crore. The dividend cheque was handed over to Union Finance and Corporate Affairs Minister Nirmala Sitharaman by Siddhartha Mohanty, MD & CEO of the life insurance major.
- August 30, 2024 06:51
Stock market live updates today: NCLAT upholds investors decision to oust Deepak Chhabria of Finolex board
The National Company Law Appellate Tribunal has upheld the shareholders decision to vote against the reappointment of Deepak Chhabria, former executive chairman,Finolex Cables.
- August 30, 2024 06:49
Stock market live updates today: DGCA puts SpiceJet under enhanced surveillance
The Directorate General of Civil Aviation (DGCA) will carry out spot checks and increase its surveillance on SpiceJet as a cash crunch has forced the airline to delay salaries and vendor payments.
- August 30, 2024 06:47
Stock market live updates today: Premier Energies IPO sees overwhelming response, subscribed 74.09 times
The initial public offer of solar cell and module manufacturer Premier Energies got subscribed 74.09 times on the last day of subscription on Thursday. The ₹2,830 crore initial share sale received bids for 3,30,76,25,013 shares against 4,46,40,825 shares on offer, according to an update with the NSE.
- August 30, 2024 06:44
Stock market live updates today: SUN Mobility aims for $1 bn investment to lead HEV expansion, doubling battery swaps
SUN Mobility is looking at a $1 billion investment by 2030, primarily focused on the newly launched heavy electric vehicles (HEVs) business. This investment will also be expanded to its existing micromobility segment, said Chetan Maini, co-founder and chairman, SUN Mobility.
- August 30, 2024 06:41
Stock market live updates today: Today’s Stock Recommendation: August 30, 2024: Power Finance Corporation BUY
- August 30, 2024 06:40
Stock market live updates today: Stock to buy today: Power Finance Corporation (₹554.40): BUY
The short-term outlook for Power Finance Corporation is bullish. The stock has made a bullish breakout above a key resistance level of ₹535 this week. The region around ₹530 will now be a very good support for the stock. Read more
- August 30, 2024 06:39
Stock market live updates today: India Inc logs lowest revenue growth in almost 4 years
In a sign of slowing economy, Corporate India registered the lowest revenue growth of 5 to 7 per cent in the June quarter against 7 per cent logged in the March quarter.
- August 30, 2024 06:35
Stock market live updates today: Reliance AGM 2024 Highlights
Mukesh Ambani announces 26% efficient bifacial solar panels, 30 GWh battery facility by 2024
- August 30, 2024 06:34
Stock market live updates today: Mukesh Ambani targets 2x growth for Reliance by 2030; new energy, AI, and Jio to drive expansion
Billionaire Mukesh Ambani is aiming to double the size of Reliance Industries by the end of the decade. Key businesses Jio and Retail’s revenue and EBITDA will double in the next 3-4 years. The future growth engine is the new energy business, which will become as big and profitable as the O2C business in 5-7 years.
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