Stock Market today | Share Market Updates - Find here all the updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for October 18, 2024.
ALL UPDATES
- October 18, 2024 16:47
Stock market today: Sensex, Nifty snap three-day losing streak as banks lead recovery; IT stocks drag
The Indian benchmark indices ended higher on Friday, breaking a three-day losing streak, as strong buying in banking and financial stocks offset losses in the IT sector. The BSE Sensex closed 218.14 points or 0.27 per cent higher at 81,224.75, while the NSE Nifty 50 gained 104.20 points or 0.42 per cent to end at 24,854.05.
Banking stocks led the rally, with the Nifty Bank index surging 1.57 per cent and Nifty Financial Services climbing 1.50 per cent. Axis Bank emerged as the top gainer on NSE, soaring 5.75 per cent, followed by Wipro (3.59 per cent), Eicher Motors (2.98 per cent), ICICI Bank (2.90 per cent), and Shriram Finance (2.80 per cent).
The IT sector faced significant pressure after sector heavyweight Infosys dropped 4.22 per cent, leading the losers’ pack. Other major decliners included Britannia (-1.98 per cent), Asian Paints (-1.87 per cent), Nestle India (-1.21 per cent), and Tech Mahindra (-0.82 per cent).
- October 18, 2024 15:55
Stock market today: Top gainers and losers on NSE
Top gainers on the NSE
Axis Bank (5.75%), Wipro (3.59%), Eicher Motors (2.98%), ICICI Bank (2.90%), Shriram Finance (2.80%)
Top losers:
Infosys (-4.22%), Britannia (-1.98%), Asian Paints (-1.87%), Nestle India (-1.21%), Tech Mahindra (-0.82%)
- October 18, 2024 15:55
Stock market today: Sensex closed 218.14 pts or 0.27% higher at 81,224.75 and Nifty 50 gained 104.20 pts or 0.42% to end at 24,854.05.
- October 18, 2024 15:30
Stock market today: Zee Entertainment Enterprises in focus
Zee Entertainment Enterprises board has approved re-appointment of Punit Goenka as the Managing Director & Chief Executive Officer of the Company for a period of 5 (five) years with effect from January 1, 2025 to December 31, 2029
Company recorded its standalone net profit for the quarter ended Sept 2024 at ₹307.3 crore as against ₹155.2 crore in the corresponding quarter last year.
Shares surged 5.44% on the NSE to ₹132.60
- October 18, 2024 15:14
Share market today: Nitco shares hit upper circuit after entering OTS with LIC for debt facilities
Nitco shares hit upper circuit on the NSE at ₹121.30. Company has entered into One-Time Settlement (OTS) with Life Insurance Corporation of India (LIC) for its debt facilities.
Nitco board to consider fundraising on October 21, 2024
- October 18, 2024 15:12
Stock market news: HGS opens AI Hub in Manila to drive digital innovation, shares in red
Hinduja Global Solutions (HGS) launched a new AI Hub in Manila, Philippines on October 18aiming to enhance digital experience solutions for its clients. The facility, inaugurated by Indian Ambassador to Philippines Harsh Kumar Jain and HGS Group CEO Partha DeSarkar, is positioned as the first of its kind in the Philippines.
The shares of Hinduja Global Solutions (HGS) were trading at ₹774.50 down by ₹4.45 or 0.57 per cent on the NSE today at 2.20 pm.
- October 18, 2024 15:07
Stock market live updates: Top NSE gainers and losers
Top gainers on the NSE as at 3 pm:
Axis Bank (5.73%), Wipro (4.09%), Eicher Motors (3.40%), ICICI Bank (2.74%), Shriram Finance (2.69%)
Top losers:
Infosys (-4.45%), Asian Paints (-1.87%), Britannia (-1.65%), Nestle India (-1.29%), Hindustan Unilever (-0.81%)
- October 18, 2024 15:03
Stock market live updates: Stocks in focus
1. Insolation Energy: Business Update
Company recorded over 150% YoY volume growth, benefiting from lower module and solar cell prices. The company has improved profit margins, achieved the lowest Net Working Capital days, and highest Return on Capital Employed. Plans include expanding solar module capacity to 6.5GW and solar cell capacity to 3GW by FY27, aiming for $1B revenue with 10%+ PAT margins in the next three years.
2. Bondada Engineering: FUND RAISE
Board meeting is scheduled to be held on October 22, 2024 to consider fund raise of an aggregate amount of INR 500 Cr.
3. RPP Infra Projects: ORDER
Company has secured new orders worth INR 35.6 Cr, including INR 28.3 crores for a 7MLD water conveyance system (with a 18-month timeline) at Kelavarapalli, Hosur, and INR 7.4 crores for internal water supply in SIPCOT Industrial Park, Shoolagiri (with a 10-month timeline). The company has a work order backlog of INR 3559 Cr as of October 16, 2024.
4. BLS International: ACQUISITION
Company has successfully acquired a 51% stake in SLW Media, a leading sports management company in the golf industry. This acquisition strengthens BLS International’s position as a global lifestyle brand, combining premium leisure experiences with its expertise in government and travel services. The synergy between golf events and BLS’s visa and consular services offers a unique value proposition for high-net-worth individuals and corporate clients, enhancing the company’s reputation for luxury and exclusivity.
- October 18, 2024 15:03
Stock market live today: 1,903 stocks advance, 1,998 decline
Stocks advanced on BSE at 3 pm on October 18, 2024, were 1,903 against 1,998 stocks that declined, and 111 remained unchanged. Total stocks traded were 4,012. The number of stocks that recorded a 52-week high was 204, and those that hit a 52-week low was 51. A total of 301 stocks traded in the upper circuit, and 243 in the lower circuit.
- October 18, 2024 14:53
Stock market live news: Axis Bank shares rally 6% as brokerages turn bullish post Q2 results
Axis Bank shares rallied 6 per cent on Friday as its net profit grew 18 per cent y-o-y on a standalone basis to ₹6,918 crore in Q2FY25. Brokerages have been bullish on the stock for its soft business growth and steady asset quality, while some have cut target prices.
- October 18, 2024 14:37
Stock market live updates: Elecon Engineering reports mixed Q2 results, shares sink 9%
Elecon Engineering Company Limited, Asia’s leading industrial gear manufacturer, today reported a mixed performance for the second quarter ended September 30, 2024. The company posted a consolidated revenue of ₹508 crores, marking a 4.8 per cent year-on-year growth, while net profit slightly declined by 1 per cent to ₹88 crores.
- October 18, 2024 14:36
Stock market live updates: Hindustan Zinc shares rise 1.45% on NSE
Hindustan Zinc board has approved investment of minimum 26% of equity in Serentica Renewable India Private Limited (SRIPL) or its affiliates.
Company recorded its consolidated net profit for the quarter ended Sept 2024 at ₹2,327 crore as against ₹1,729 crore in the corresponding quarter last year.
Shares rise 1.45% to ₹515.55 on the NSE
- October 18, 2024 14:20
Stock market live news: Granules India gets FDA nod for antidepressant generic, shares trade flat
Granules India Limited announced today that its US subsidiary has received approval from the Food and Drug Administration (FDA) for generic Bupropion Hydrochloride Extended-Release Tablets. The approval covers three strengths - 100 mg, 150 mg, and 200 mg of the antidepressant medication.
- October 18, 2024 14:19
Stock market news: Torrent Pharmaceuticals receives demand notice
Torrent Pharmaceuticals has received demand notice from Director, National Pharmaceutical Pricing Authority, New Delhi, imposing penalty of ₹ 6,32,689/-
Shares trade at ₹3,448.50 on the NSE, up 1.53%.
- October 18, 2024 14:18
Share market today: Thomas Cook (India) Limited has inaugurated its new franchise outlet in Greater Noida. Shares trade 3.35% lower on the NSE at ₹194.51
- October 18, 2024 14:07
Stock market live updates: South Indian Bank revises MCLR across tenures
South Indian Bank announced revision of Marginal Cost of Funds Based Lending Rates (MCLR) across tenures by 5 bps w.e.f Oct 20
Shares trade flat on the NSE at ₹25.05
- October 18, 2024 14:06
Stock market live news: KIMS signs MoU to procure medical tech with Wipro GE Healthcare
Krishna Institute of Medical Sciences (KIMS) signed a Memorandum of Understanding (MoU) to procure medical technology and services of upto ₹700 crore with Wipro GE Healthcare, a leading global medical technology, diagnostics, and digital solutions innovator.
KIMS stock traded flat on the NSE at ₹545.40
- October 18, 2024 13:49
Stock market updates: Raghav Productivity Enhancers board approves 1:1 bonus; shares rise 1% to ₹1,343 on NSE
Raghav Productivity Enhancers Limited board has approved bonus at the ratio of 1 : 1
Shares rose 1% to 1,343 on the NSE
- October 18, 2024 13:48
Stock market live today: Hinduja Global Solutions launches its AI Hub in Manila; shares trade flat
Hinduja Global Solutions launches its AI Hub in Manila
Shares trade flat on the NSE at ₹772
- October 18, 2024 13:23
Stock in focus: Elecon Engineering Q2 profit declines to ₹67.10 Crore; shares fall 10.07% to ₹648.80
Elecon Engineering recorded its standalone net profit for the quarter ended Sept 2024 at ₹67.10 crore as against ₹78.98 crore in the corresponding quarter last year.
Shares plummet 10.07% to ₹648.80 on the NSE
- October 18, 2024 13:23
Stock market live updates: Sterling Holiday Resorts has announced its second resort in Pench
- October 18, 2024 13:22
Stock market live updates: Akums Drugs signs MoU with Zambian Government for local medicine manufacturing; stock up 1.03% to ₹923.30
Akums Drugs and Pharmaceuticals Limited has entered into a Memorandum of Understanding (enclosed herewith) with The Government of Republic of Zambia through Ministry of Health situated at Ndeke House, Haile Selassie Road Lusaka in Lusaka Province for Local Manufacturing of Medicines.
Akums stock rose 1.03% to ₹923.30 on the NSE
- October 18, 2024 13:22
Stock in focus: Ajmera Realty board approves ₹2.25 crore preferential issue; stock surges 5.88% to ₹825.15
Ajmera Realty & Infra India Limited board has approved Preferential issue of Equity Shares aggregating to ₹2.25 crore.
Shares surge 5.88% on the NSE to ₹825.15
- October 18, 2024 12:56
Stock market live today: Airtel expands network capacity in UP West and Uttarakhand, shares trade flat
Bharti Airtel has completed the deployment of additional 5MHz spectrum in the 2100 band across Uttar Pradesh (West) and Uttarakhand, the telecom major announced on October 18, 2024. The expansion aims to enhance its 5G and 4G network capabilities in the region.
The shares of Bharti Airtel Limited were trading flat at ₹1,700.70 on the NSE today at 12.15 pm.
- October 18, 2024 12:55
Stock market live today: Polycab India shares tumble 3.3% after reporting record Q2 revenue
The shares of Polycab India Limited were trading at ₹6,880.85 down by ₹239.70 or 3.37 per cent on the NSE today at 11.10 am, a day after India’s wire and cable manufacturer, reported a 30 per cent year-on-year increase in revenue to ₹5,498.4 crore for the second quarter ended September 30, 2024. The company’s net profit rose 4 per cent to ₹445.2 crore, while EBITDA grew 4 per cent to ₹631.6 crore during the quarter.
- October 18, 2024 12:38
Economy watch: India’s $5 trillion goal: Relaxations in credit market is key!
India, already the world’s fastest-growing major economy, is pushing for even more dramatic expansion to become a developed nation, a goal that hinges on expanding access to capital.
Nothing illustrates that challenge better than the 47 trillion rupee ($559 billion) corporate bond market. It’s one of the world’s smallest as a percentage of gross domestic product, at just 16%, even after record growth. Bankers in Mumbai say doubling that ratio would better help finance ambitious goals, like becoming a $5 trillion economy in the next three years.
- October 18, 2024 12:27
Stock market live today: Granules India gets ANDA nod for Bupropion Hydrochloride tablets; shares steady at ₹599.40
Granules India Limited Announces ANDA Approval for Bupropion Hydrochloride Extended-Release Tablets.
Shares trade flat on the NSE at ₹599.40
- October 18, 2024 12:26
Nifty today: Nifty IT index declined 1.41% to 42,130.30
- October 18, 2024 12:26
Stock market live today: Diamond Power Infrastructure board has approved stock split Shares surge 4.24% to ₹1,894.95
- October 18, 2024 12:26
Stock market live today: Persistent Systems unveils SASVA 2.0: AI-powered platform for software engineering, shares drop 1.17%
Persistent Systems announced the launch of SASVA 2.0, the latest iteration of its flagship AI-powered platform revolutionizing software engineering with generative and deterministic AI.
Shares declined 1.17% on the NSE to ₹5,471.20
- October 18, 2024 12:25
Nifty today: Top gainers at noon trade
Top gainers on the NSE as at 12 noon:
Axis Bank (5.75%), Wipro (3.39%), Eicher Motors (2.75%), Tata Motors (2.01%), Hindalco (1.93%)
Top losers:
Infosys (-4.38%), ITC (-1.83%), Britannia (-1.54%), Nestle India (-1.39%), Cipla (-1.20%)
- October 18, 2024 12:24
Sensex today: Stocks advance-decline ratio at noon trade
Stocks advanced on BSE at 12 noon on October 18, 2024, were 1,623 against 2,111 stocks that declined, and 147 remained unchanged. Total stocks traded were 3,881. The number of stocks that recorded a 52-week high was 179, and those that hit a 52-week low was 49. A total of 228 stocks traded in the upper circuit, and 211 in the lower circuit.
- October 18, 2024 11:59
Markets now: Sensex traded at 81,031.75, up 25.14 pts or 0.03% as at 11.48 am, and Nifty 50 traded at 24,776.45, up 26.60 pts or 0.11%.
- October 18, 2024 11:48
Stock in focus: RPP Infra Projects secures major contract for water conveyance system; shares rise 2.49%
RPP Infra Projects Ltd has been received letter of acceptance for a new projects -Design and Build of 7MLD Product water conveyance system from the 20 MLD Tertiary Treatment Reverse Osmosis (TTRO) Plant at Kelavarapalli Hosur to SIPCOT Industrial Park Shoolagiri Phase I & II Krishnagiri District, Tamil Naud with Operation and Maintenance for 1 year on DBO Basis for Contract value of Rs. 28.25 Crores (Including GST) and Providing Internal Water Supply arrangements including Construction of 2 Nos of Pump Room In SIPCOT Industrial Park, Shoolagiri phase I for contract value of 7.35crore.
Shares were up 2.49% on the NSE to ₹199.65
- October 18, 2024 11:38
Stock market live updates: Airtel turbo charges network in UP, Uttarakhand; shares trade flat
Airtel turbo charges its network in Uttar Pradesh (West) and Uttarakhand for superior voice and data connectivity
Bharti Airtel shares trade flat on the NSE at ₹1,701.30
- October 18, 2024 11:26
Stock market live today: Tata Consumer Products Q2 Results: Revenue expected to grow in double-digits; may see rise in rural demand
Driven by new business, Tata Consumer Products is expected to register double-digit growth in revenue in the second quarter of the financial year 2024-2025.
According to analysts, the fast-moving consumer goods company’s revenue is expected to grow up to 13.5 per cent year-on-year .
- October 18, 2024 11:24
IPO Watch: United Heat Transfer Limited IPO opens on 22nd October 2024
United Heat Transfer Limited IPO Opens on 22nd October 2024
New Delhi, October 18, 2024: United Heat Transfer Limited specializing in advanced heat exchanger equipment has announced its plan to go public with an Initial Public Offering (IPO) on Tuesday, 22nd October 2024. Through this IPO the company is aiming to raise 2999.56 Lakhs at the upper band, with shares set to be listed on the NSE Emerge platform.
The fresh issue of 50,84,000 equity shares at a face value of Rs.10 each.
Equity Share Allocation:
●\u0009QIB Anchor Portion - UpTo 14,34,000 Equity Shares
●\u0009Qualified Institutional Buyers (QIB) including Anchor Portion - UpTo 24,08,000 Equity Shares
●\u0009Non-Institutional Investors (NII) - At least 7,28,000 Equity Shares
●\u0009Retail Individual Investors (RII) - At least 16,92,000 Equity Shares
●\u0009Market Maker - UpTo 2,56,000 Equity Shares
The net proceeds from the IPO will be utilized for working Capital Requirements, Repayment of Debt and General Corporate Purposes. The bidding for the Anchor portion will open on Monday, 21st October 2024, the issue will open for subscription for all other categories from Tuesday, 22nd October 2024 and close on Thursday 24th October 2024.
Over the past 3 decades, United Heat Transfer Limited has worked very hard to show beyond doubt that they are the pioneers in their industry, their long list of clientele has put their utmost trust in them to deliver heat exchanger equipment like Shell & Tube Heat Exchangers, Air Cooled Heat Exchangers, Marine Heat Exchangers, Moisture Separators, Automatic Backflush Filters, Pressure Vessels and Process Flow Skids etc. They have carefully created their equipment keeping the environment and sustainability at the top of their minds and hearts. United Heat Transfer Limited was founded on the foundation of serving the people with the utmost respect and made a commitment to serve their customers by partaking in educational programs and motivating the people. This expansion will allow them to extensively give back to the community and people by further growing their reach towards creating more solutions catered to environmental conservation and community welfare.
Mr. Yogesh Patil, Chairman and Managing Director of United Heat Transfer Limited expressed “We are elated to come out with our own IPO, this is a vital decision and moment for us. This IPO will allow us to strengthen our partnerships with our diverse clients both domestically and internationally by expanding into Europe, The USA, and Asian countries. This allocation will enable us to aggressively serve and work towards our goal of becoming the preferred choice for our stakeholders.”
Mr. Vivek Patil, Whole Time Director of United Heat Transfer Limited said “The Heat Exchanger Equipment industry has carved out its niche and now we have successfully expanded our clientele globally, our steady growth can be only accounted for by our motivation to strive for excellence in every aspect of our working. We have always kept our initiatives to create a sustainable living and creating an ecological impact at utmost priority, which resonates with our clients the most. With this IPO we want to expand our initiatives by serving more and more sectors.”
The Book Running Lead Manager to the issue is Swastika Investmart Limited.
Commenting on the development Mr. Sunil Nyati, MD, Swastika Investmart Ltd. “We are delighted to support United Heat Transfer Limited towards their journey to the public markets. The company’s commitment to innovation and sustainability in the heat exchanger industry has positioned them as leaders, and this IPO marks a significant milestone for its growth. We are confident that this offering will unlock new opportunities for the company and its stakeholders.”
- October 18, 2024 11:21
Stock market live updates: Sundaram Alternates launches Performing Credit Opportunities Fund (PCOF) - Series I
Sundaram Alternates, a trusted name in alternative investments and a wholly owned subsidiary of Sundaram Asset Management Company Limited and Sundaram Finance Limited, announces the launch of Performing Credit Opportunities Fund (PCOF) - Series I, a Close Ended Category II AIF.
India’s alternative credit market, currently valued at approximately USD 80 billion, presents a significant growth opportunity, with the private/non-bank credit segment contributing USD 10-23 billion annually and growing at 10-15% CAGR. In this thriving environment, private credit funds like PCOF-Series I are uniquely positioned to capitalize on the market’s potential.
The primary investment objective of PCOF is to generate attractive risk-adjusted returns by targeting high-yielding debentures (both listed and unlisted) and mezzanine securities. The fund focuses on mid-market companies, particularly in the MSME, SME, Fintech, Manufacturing, and Services sectors, with revenues ranging from INR 250 to 5000 crores. The investments will be supported by a range of security structures, including strong business cash flows, hard assets, guarantees, and share pledges, ensuring a robust risk management framework.
A hallmark of the PCOF is its skin in the game commitment from sponsors, who will contribute up to 15% of the fund size, demonstrating confidence in the fund’s success. The fund will distribute quarterly income to investors, providing a steady cash flow. The fund will recycle principal repayments during the investment period to enhance returns for investors, with the goal of commencing capital distributions from Year 4.
Karthik Athreya, Head of Fund Strategy (Private Credit) at Sundaram Alternates, commented, “We are excited to launch PCOF-I, which builds on our proven track record in private credit investing. The Indian market is at a pivotal point for private credit growth, and we believe our disciplined investment approach and deep market expertise position us to deliver compelling returns for our investors. We anticipate strong interest and exciting deployment opportunities for this strategy, which is well-positioned in this environment.”
- October 18, 2024 11:10
Stock market live today: JSW Energy inks 1,200 MW Solar-Wind Hybrid Power deals in Maharashtra, shares in red
JSW Energy’s subsidiaries have secured power purchase agreements (PPAs) with Maharashtra State Electricity Distribution Company Limited (MSEDCL) for two 600 MW solar-wind hybrid projects, the company announced today. The 25-year agreements were signed at a tariff of ₹3.60/kWh, with commissioning expected within 24 months.
The shares of JSW Energy Limited were trading at ₹672.95 down by ₹3.60 or 0.53 per cent on the NSE today at 10.30 am.
- October 18, 2024 11:09
Stock market live today: Bank Nifty Prediction today – Oct 18, 2024: Index has a resistance ahead
Bank Nifty opened today’s session at 51,261 versus yesterday’s close of 51,289. The index moved up after opening and is now at 51,620, up 0.6 per cent.
The advance/decline ratio stands at 8/4, giving the index a bullish bias. Axis Bank, up 4.9 per cent, is the top gainer whereas HDFC Bank, down 0.4 per cent, is the top loser.
- October 18, 2024 11:09
Stock market live today: Nifty Prediction Today – October 18, 2024: Resistance can cap the upside. Go short
Nifty 50 opened with a gap-down and is trading lower. The index is currently trading at 24,670, down 0.32 per cent.
The broader sentiment is weak. The advance/decline ratio is at 18:32. This is negative. If this trend sustains, there can be more fall during the day.
- October 18, 2024 11:08
IPO Watch: Integrum Energy Infra files papers for IPO
Integrum Energy Infrastructure, a renewable energy solutions company, has filed its Draft Red Herring Prospectus with BSE SME for an IPO.
The company will issue 54.90 lakh equity shares. Of this, 49.50 lakh will be fresh equity share issuance and 5.40 lakh equity shares will be an offer for sale.
- October 18, 2024 10:58
Nifty today: Top losers of Nifty IT stocks: LTI Mindtree (-4.92%), Infosys (-3.86%), Persistent Systems (-1.35%), Tech Mahindra (-1.13%)
- October 18, 2024 10:38
Stock in focus: LTIMindtree shares drop 5.51% despite 7.75% YoY rise in Q2 net profit
LTIMindtree shares fall 5.51% on the NSE to ₹6,042 post Q2 results. Company reported a 7.75 per cent year-on-year increase in its consolidated net profits to Rs 1,251 crore for the second quarter ended September 2024.
- October 18, 2024 10:37
Stock in focus: Infosys shares tumble 4.27% on the NSE to ₹1,884.05 post Q2 results
- October 18, 2024 10:15
Stock in focus: Wipro shares rally 5% post Q2 results
- October 18, 2024 10:14
Stock in focus: Zomato shares dip 2.16% ahead of board meeting on QIP fundraising
Zomato shares fall 2.16% on the NSE trading at ₹264.70. The cos board will meet on October 22 to consider raising funds through a qualified institutions placement (QIP). Quick commerce platform Blinkit recently rolled out a new feature enabling customers to return or exchange products within 10 minutes.
- October 18, 2024 10:13
Stock market live today: Researchbytes Events Update as of 09:50 AM Friday 18 October 2024
12:00 PM 5paisacapital
12:00 PM Shemaroo Ent
Dial: +91 22 6280 1341
( Hosted by Valorem )
12:00 PM Polycab India
Dial: +91 22 6280 1443
3:30 PM Jindal Stainles
Dial: + 91 22 6280 1245
4:00 PM Danish Power
4:00 PM Ceat
Dial: +91 22 6280 1384
4:00 PM HindZinc
Dial: +91 22 6280 1340
4:00 PM Quick Heal Tech
Dial: +91 22 6280 1341
( Hosted by Valorem )
4:00 PM Aether Industries
Dial: 91 22 6280 1458
4:30 PM Tanla Platforms
(Press Release )
Dial: +91 22 6280 1137
5:00 PM Mastek
Dial: +91 22 6280 1107
5:30 PM Zee Entertain
(Press Release )
Dial: +91 22 6280 1109
5:30 PM ICICIGI
Dial: +91 22 6280 1341
( Hosted by Adfactors )
6:00 PM Onward Tech
Dial: +91 22 6280 1107
6:30 PM TATA Cons. Prod
7:00 PM Tejas Networks
7:30 PM Jio Financial
- October 18, 2024 09:45
Stock market live today: IRCTC clarifies change in advance reservation reriod; shares trade flat at ₹873.90
IRCTC has issued clarification regarding the Advance Reservation Period (ARP), altered to 60 days instead of 120 days. “There is no change in the number of trains running daily. Hence, the reserved ticket capacity will be the same as it is now. As such, there will be no impact on Internet Ticketing revenue of IRCTC through convenience fees charged on e-tickets booked through its platform,” it added.
Shares trade flat on the NSE at ₹873.90
- October 18, 2024 09:41
Stock in focus: Manappuram Finance shares plunge 15% after RBI directs Asirvad Micro Finance to halt loan disbursal
RBI has directed Asirvad Micro Finance Limited, a material subsidiary of Manappuram Finance, to cease and desist from sanction or disbursal of loans effective from close of business of October 21, 2024 in exercise of the provision of section 45L(1)(b) of the Reserve Bank of India Act 1934.
Manappuram Finance stock plunged 15% on the NSE to trade at ₹150.73, also its lower circuit.
- October 18, 2024 09:41
Stock market live today: JSW Energy subsidiaries sign solar-wind hybrid PPAs; shares slip 0.95%
JSW Renew Energy Six Limited and JSW Renew Energy Thirty Limited, step-down subsidiaries of JSW Energy, have signed Power Purchase Agreements for STU-connected Solar-Wind Hybrid capacity with Maharashtra State Electricity Distribution Company Limited.
JSW Energy shares slip 0.95% on the NSE to ₹670.15
- October 18, 2024 09:40
Stock in focus: Bajaj Auto shares fall below 10,000 mark, trades at ₹9,946.20 on the NSE, down by 1.71%.
- October 18, 2024 09:39
Nifty today: Top gainers, losers at 9.30 a.m.
Top gainers on the NSE as at 9.30 am:
Wipro (4.24%), Axis Bank (3.27%), Eicher Motors (1.21%), TCS (0.93%), Bharti Airtel (0.34%)
Top losers:
Titan(-2.85%), Bajaj Auto (-2.64%), Infosys (-2.37%), BEL (-2.14%), BPCL (-2.07%)
- October 18, 2024 09:30
Stock in focus: Tanla Platforms sees 5.99% drop in early trade; volumes surge
Hyderabad-based Tanla Platforms Ltd loses 5.99 p.c. in early trade. Shares trading at Rs 806.05. Spurt in volumes by 1.84 times.
- October 18, 2024 09:30
Stock recommendations: Emkay on M&M Fin
Upgrade to buy, TP raised to Rs 360 from Rs 280
Inflection point around the corner; valuation palatable
See inflection point in terms of growth, asset quality, & profitability
- October 18, 2024 09:29
Stock recommendations: Jefferies on City Gas Co
With dependence on market-linked gas 50% & rising, CGD players would be forced to defend margins at expense of vol growth
This could trigger a derating of sector
Will revisit est after pricing changes by players in coming days
- October 18, 2024 09:29
Stock recommendations: CITI on Havells
Neutral, TP Rs 1950
Compared to revenue growth of 16% YoY EBITDA/PAT growth weak at 2%/9% YoY (missed Citi est by 19%/17%) due to
(a) higher ad spends (+70bps YoY);
(b) volatile RM price (impacting Cables & Wires);
(c) investment in manpower (+47bps YoY).
- October 18, 2024 09:28
Stock Recommendations: Jefferies on Polycab
Buy, TP Rs 8315
Q2 PAT in-line
Co posted its highest-ever Q2 sales
But OPM was impacted (-290bps YoY) by higher competition and mix change i.e. lower share of higher-margin domestic distribution.
Exports revived by +36%QoQ
FMEG loss continues
- October 18, 2024 09:28
Stock Recommendations: MS on Tata Chem
UW, TP Rs 880
Q2 broadly in-line
India margins impacted by adverse weather
US inline & Kenya surprised+vely
While Co cited balanced market & bottoming in price trends, Chinese capacity ramp up <d. evidence of supply rationalisation limits near-term margin uplift
- October 18, 2024 09:28
Stock recommendations: CLSA on Tata Com
O-P, TP Rs 2220
2Q consol. rev of Rs57.7bn, up 18% YoY/2% QoQ, was above est.
Data revenue up 21% YoY/3% QoQ, driven by digital services (46% of data rev) with 52% YoY/4% QoQ growth.
Consol. Ebitda of Rs11.2bn, up 10% YoY/-1% QoQ, in line
- October 18, 2024 09:27
Stock recommendations: Brokerages on Manappuram Finance
MS on Manappuram Fin
Downgrade to EW, TP cut to Rs 170
RBI’s embargo on new biz by Asirvad could hurt profits materially & for longer
Cut consol earnings forecasts 20% for F25 & 30% across F26-27
Standalone val remains cheap
Think investor interest could take long to return
Jefferies on Manappuram Fin
Downgrade to hold, TP cut to Rs 167
RBI’s ban on disbursement of loans by cos subsidiary Asirvad (27% of consol AUM
Cut FY25-27E EPS by 11-19%
Shares may be under pressure, but at 0.9x FY26E BV, downside should be ltd.
- October 18, 2024 09:26
Commodities market updates: Crude oil futures rise following US inventory decline
Crude oil futures traded higher on Friday morning after official data showed decrease in inventories in the US. At 9.21 am on Friday, December Brent oil futures were at $74.50, up by 0.07 per cent, and November crude oil futures on WTI (West Texas Intermediate) were at $70.81, up by 0.20 per cent. October crude oil futures were trading at ₹5953 on Multi Commodity Exchange (MCX) during the initial hour of trading on Friday against the previous close of ₹5897, up by 0.95 per cent, and November futures were trading at ₹5928 against the previous close of ₹5877, up by 0.87 per cent.
- October 18, 2024 09:25
Stock market live today: Opening Bell: Sensex, Nifty open lower as FII selling intensifies, middle east tensions weigh
Indian benchmark indices Sensex and Nifty opened lower on Friday, extending losses for the fourth consecutive session, as foreign institutional investors (FIIs) continued their selling spree amid escalating geopolitical tensions in the Middle East.
The BSE Sensex opened at 80,749.26, down from its previous close of 81,006.61, while the NSE Nifty started at 24,664.95, sliding from Thursday’s close of 24,749.85.
- October 18, 2024 09:17
Stock Recommendations: Axis Bank Review
MS
OW, TP Rs 1445
2Q: Asset quality improves
Stock has underperformed Bankex since 1QF25 owing to asset quality concerns
2Q better, with credit cost much lower QoQ
Bank used one-off gains to lift contingency provisions
Core rev growth stays muted
Nomura
Buy, TP Rs 1380
2Q: Steady qtr amid muted expectations
Loan/deposit growth soft q-q but in-line; higher write-offs, lower net slippages aid GNPLs
Treasury gains offset softer core PPOP; one-off tax gains used to shore up provision buffers
MS on Manappuram Fin
Downgrade to EW, TP cut to Rs 170
RBI’s embargo on new biz by Asirvad could hurt profits materially & for longer
Cut consol earnings forecasts 20% for F25 & 30% across F26-27
Standalone val remains cheap
Think investor interest could take long to return
- October 18, 2024 09:17
Stock Recommendations: Brokers Review of LTMindtree’s Q2 performance
ITI
Sell, TP Rs 5710
Reported an inline Q2, on growth & margins.
Forward looking indicators –
(a) Deal TCV steady at $1.3b, +5% yoy on LTM basis;
(b) Headcount +1% yoy;
(c) Management commentary “cautious optimistic”.
MS
OW, TP Rs 7050
A lack of +ve surprises in 2Q & softer than expected commentary on 3Q could drive near-term stock weakness
However, broader recovery trends are intact with BFSI momentum sustaining, a large deal pipeline, & strong headcount additions
- October 18, 2024 09:16
Stock recommendations: Brokerages review on Wipro Q2 performance
Jefferies
U-P, TP Rs 465
2Q beat est
Margins performance supported by one-offs ex. of which they would be down 90bps QoQ.
While management reiterated green shoots in Capco/BFSI, broad-based revenue pressures, disappointing 3Q guidance suggest a weak growth outlook
CITI
Sell, TP Rs 500
Decent 2Q with both revenues & margins slightly above expectations
However, forward looking indicators still look weak–
a)Revguidance implying 1% qoq decline in 3Q at midpoint
b)Headcount decline of 4.4% yoy
c)Overall TTM TCV decline of 11% yoy
Nomura
Buy, TP Rs 680
Strong large deal win momentum in 2Q
3Qguidance reflects weak seasonality
2QFY25 beat across all parameters
Discretionary demand showing early signs of a recovery
Stock is trading at 19.2x FY27F EPS
- October 18, 2024 09:15
Stock market live today: Brokers review on Infosys Q2 performance
MS
OW, TP Rs 2150
With a slight miss in 2Q revenue & weak deal wins, see a slight stock correction as possible in near term
See support at five-year average FCF multiple (24x) – i.e., at Rs1780
Build positions on any potential correction
CITI
Neutral, TP Rs 1960
Decent Q2 – cc +3.1% qoq, flattish margins; revenue guidance upper end raise – better than peers.
Forward looking indicators –
a) Large deal TCV – down 7.4% TTM yoy
b) Headcount -3% yoy
c) Guidance implies no growth in 3Q/4Q at mid-point
- October 18, 2024 08:46
Stock recommendations: Broker’s call: Engineers India (Buy)
We upgrade Engineers India (EIL) to ‘Buy’ from ‘Accumulate’ given the recent correction in the stock price, with an unchanged SoTP-derived TP of ₹250, valuing the Consultancy/Turnkey segments at a P/E of 25x/10x on FY26.
EIL is well-positioned to capitalize on the large pipeline of refinery & petrochemical capex in India, which is driven by rising oil & petchem demand and the government’s focus on reducing petchem imports. The company is also strongly focused on enhancing its green energy business by engaging in projects in green hydrogen & ammonia production, biofuels, and coal gasification. It also aims to diversify its business towards non-oil segments such as infrastructure.
- October 18, 2024 08:45
Stock recommendations: Broker’s call: Bank of Maharashtra (Buy)
Bank of Maharashtra (BOM) posted a notable 15.4/0.3 per cent y-o-y/q-o-q growth in NII, reaching ₹2,810 crore in Q2-FY25. Despite a 18 bps rise in cost of funds (COF), they achieved higher yields on advances, increasing by 25 bps. This resulted in a 9 bps improvement in NIMs, reaching 3.98 per cent in Q2.
- October 18, 2024 08:43
Stock market live today: Adani Total Gas faces 16% APM domestic gas price reduction from GAIL
ADANI TOTAL GAS: CO HAS RECEIVED A NOTIFICATION FROM GAIL (INDIA) LTD. REGARDING A 16% REDUCTION IN ADMINISTERED PRICE MECHANISM (APM) DOMESTIC GAS ALLOCATION, EFFECTIVE OCT 16, 2024
- October 18, 2024 08:42
Stock Recommendations: Fund Houses Recommendations
Jefferies on Polycab: Maintain Buy on Company, target price at Rs 8315/Sh (Positive)
Bernstein on Infosys: Maintain Buy on Company, raise target price at Rs 2270/Sh from Rs 2100/Sh (Positive)
GS on Havells: Maintain Buy on Company, raise target price at Rs 2100/Sh (Positive)
Macquarie on Axis Bank: Maintain Outperform on Bank, target price at Rs 1400/Sh (Positive)
MS on Axis Bank: Maintain Overweight on Bank, target price at Rs 1445/Sh (Positive)
Emkay on M&M Fin: Upgrade to Buy on Company, raise target price at Rs 308/Sh (Positive)
MS on LTIM: Maintain Overweight on Company, target price at Rs 7150/Sh (Positive)
BofA on Gas distributers: APM allocation for CNG reduced. (Neutral)
Jefferies on Havells: Maintain Hold on Company, cut target price at Rs 1870/Sh (Neutral)
BofA on Manappuram: Maintain Buy on Company, cut target price at Rs 220/Sh (Neutral)
Investec on Infosys: Maintain Sell on Company, cut target price at Rs 1700/Sh (Neutral)
Nomura on Infosys: Maintain Buy on Company, target price at Rs 2130/Sh (Neutral)
MS on Infosys: Maintain Overweight on Company, target price at Rs 2150/Sh (Neutral)
Macquarie on Wipro: Maintain Outperform on Company, target price at Rs 670/Sh (Neutral)
Nomura on Wipro: Maintain Outperform on Company, target price at Rs 680/Sh (Neutral)
MS on Wipro: Maintain Underweight on Company, target price at Rs 500/Sh (Neutral)
Jefferies on Wipro: Maintain Underperform on Company, target price at Rs 465/Sh (Neutral)
Investec on Havells: Maintain Hold on Company, cut target price at Rs 1850/Sh versus Rs 1910/Sh (Neutral)
Citi on Havells: Maintain Neutral on Company, target price at Rs 1950/Sh (Neutral)
Investec on Axis Bank: Maintain Buy on Bank, cut target price at Rs 1298/Sh versus Rs 1340/Sh (Neutral)
Citi on Axis Bank: Maintain Buy on Bank, target price at Rs 1290/Sh (Neutral)
IIFL on Axis Bank: Maintain Buy on Bank, target price at Rs 1360/Sh (Neutral)
Bernstein on Axis Bank: Maintain Outperform on Bank, target price at Rs 1250/Sh (Neutral)
DAM on Axis Bank: Maintain Buy on Bank, target price at Rs 1360/Sh (Neutral)
Nuvama on Axis Bank: Maintain Buy on Bank, target price at Rs 1335/Sh (Neutral)
Nomura on Axis Bank: Maintain Buy on Bank, target price at Rs 1380/Sh (Neutral)
Investec on LTIM: Maintain Sell on Company, raise target price at Rs 5600/Sh (Neutral)
Nomura on LTIM: Maintain Reduce on Company, target price at Rs 5140/Sh (Neutral)
Macquarie on United Spirits: Maintain Underperform on Company, target price at Rs 1100/Sh (Neutral)
JP Morgan on Manappuram: Downgrade to Underweight on Company, cut target price at Rs 170/Sh (Negative)
MS on Manappuram: Downgrade to Underweight on Company, cut target price at Rs 170/Sh (Negative)
Jefferies on Manappuram: Downgrade to Hold on Company, cut target price at Rs 167/Sh (Negative)
MS on Tata Chem: Maintain Underweight on Company, cut target price at Rs 880/Sh (Negative)
MS on Nestle: Maintain Underweight on Company, target price at Rs 2114/Sh (Negative)
- October 18, 2024 08:38
Stock market live updates: Opening Bid: Indian markets poised for gap-down opening as FPIs sell ₹74,000 crore worth of equities in October
Domestic markets are expected to open weak on Friday despite stable global markets. International stock markets are mixed after the ECB cut rates further by 25 bps. Stocks across Japan, Taiwan, and Singapore are up in early trading on Friday. However, Gift Nifty points at 24,730, indicating a gap-down opening of 100 points.
Analysts expect the downtrend to continue due to selling by foreign portfolio investors. So far in October, FPIs sold nearly Rs 74,000 crore worth of shares in the cash segment, a record.
- October 18, 2024 08:07
Stock market live today: HDFC Securities launches new wealth advisory service to enhance offerings for HNIs and Corporates
HDFC Securities has announced the launch of its new Wealth Advisory offering, marking a significant milestone in the company’s journey as a trusted name in equity research, broking, and financial distribution. With over 20 years as a stockbroker and a wide-reaching presence of over 5.7 million clients digitally and across 250+ branches spread throughout the country, HDFC Securities is now expanding its service portfolio to provide comprehensive wealth advisory solutions for High-Net-Worth Individuals (HNIs), Ultra-High-Net-Worth Individuals (UHNIs), Family Offices, and Corporate Treasuries. With this new offering, HDFC Securities aims to provide personalized, sophisticated financial solutions, meeting the growing demand for wealth advisory services in India.
- October 18, 2024 08:06
Stock market updates: Stock under F&O ban on NSE: 18-Oct-24
1 BANDHANBNK
2 CHAMBLFERT
3 GNFC
4 GRANULES
5 HINDCOPPER
6 IDFCFIRSTB
7 IEX
8 LTF
9 MANAPPURAM
10 NATIONALUM
11 PNB
12 RBLBANK
13 SAIL
14 TATACHEM
- October 18, 2024 08:06
Stock market updates: Today’s Corporate Action: 18th Oct Ex Date
ANANDRATHI
Interim Dividend - Rs. - 7.0000
HBEL
Stock Split From Rs.10/- to Rs.1/-
HEG
Stock Split From Rs.10/- to Rs.2/-
SACHEMT
Stock Split From Rs.10/- to Rs.2/-
SUMEETINDS
Resolution Plan -Suspension
TCS
Interim Dividend - Rs. - 10.0000
- October 18, 2024 08:05
Stock market live today: China GDP (YoY)
Actual: 4.6%
Expected: 4.5%
Previous: 4.7%
Industrial Production (Y/Y)
Actual: 5.4%
Expected: 4.6%
Previous: 4.5%
(Data better than estimates)
- October 18, 2024 08:04
Stock market live today: Q2FY25 EARNING CALENDAR 21.10.2024
AURIONPRO,BAJAJHFL, BALUFORGE, BEPL, CGPOWER, CUB, CYIENTDLM, GRAVITA, HFCL, JSFB, MAHLOG, MAHSCOOTER, NELCO, RAJRATAN, ROUTE, SOLARA, SPLPETRO, SWARAJENG, ULTRACEMCO, UNIONBANK, WENDT
- October 18, 2024 08:04
Stock market live today: Q2FY25 EARNING CALENDAR 19.10.2024
DALBHARAT, HDFCBANK, INDIAMART, KOTAKBANK, LLOYDSENGG, MCX, NETWEB, PCJEWELLER, PSB, RBLBANK, ROSSARI, SESHAPAPER, TECHM, UCOBANK
DALBHARAT
* Revenue expected at Rs 3120 crore versus Rs 3149 crore
* EBITDA expected to be seen at Rs 469 crore versus Rs 589 crore
* EBITDA margin expected to be seen at 15.03% versus 18.70%
* Net profit expected to be seen at Rs 91 crore versus Rs 118 crore
HDFCBANK
* NII expected at Rs 30342 crore versus Rs 27385 crore
* EBIT expected to be seen at Rs 24589 crore versus Rs 22693 crore
* EBIT margin expected to be seen at 59.30% versus 59.57%
* Net profit expected to be seen at Rs 16425 crore versus Rs 15976 crore
INDIAMART
* Revenue expected at Rs 343 crore versus Rs 294 crore
* EBITDA expected to be seen at Rs 121 crore versus Rs 80 crore
* EBITDA margin expected to be seen at 35.27% versus 27.21%
* Net profit expected to be seen at Rs 116 crore versus Rs 69 crore
KOTAKBANK
* NII expected at Rs 7015 crore versus Rs 7191 crore
* EBIT expected to be seen at Rs 5219 crore versus Rs 4610 crore
* EBIT margin expected to be seen at 70.21% versus 73.22%
* Net profit expected to be seen at Rs 3428 crore versus Rs 3191 crore
MCX
* Revenue expected at Rs 237 crore versus Rs 165 crore
* EBITDA expected to be seen at Rs 137 crore versus Rs -287 crore
* EBITDA margin expected to be seen at 57.80%
* Net profit expected to be seen at Rs 115 crore versus Rs -19 crore
TECHM
* Revenue expected at Rs 13448 crore versus Rs 13005 crore
* EBIT expected to be seen at Rs 1216 crore versus Rs 1104 crore
* EBIT margin expected to be seen at 9.04% versus 8.49%
* Net profit expected to be seen at Rs 991 crore versus Rs 851 crore
- October 18, 2024 08:04
Stock market live updates: Q2FY25 EARNING CALENDAR 18.10.2024
AETHER, ELECON, GANESHHOUC, HINDZINC, ICICIGI, JINDALSAW, JIOFIN, KESORAMIND, LTF, MASTEK, MRPL, OBEROIRLTY, RPEL, TATACONSUM, TEJASNET, ZEEL
HINDZINC
* Revenue expected at Rs 7959 crore versus Rs 6791 crore
* EBITDA expected to be seen at Rs 4001 crore versus Rs 3139 crore
* EBITDA margin expected to be seen at 50.27% versus 46.22%
* Net profit expected to be seen at Rs 2234 crore versus Rs 1729 crore
ICICIGI
* GPW expected at Rs 7338 crore versus Rs 6272 crore
* EBIT expected to be seen at Rs 721 crore versus Rs 786 crore
* EBIT margin expected to be seen at 12.93% versus 15.56%
* Net profit expected to be seen at Rs 655 crore versus Rs 577 crore
LTF
* NII expected at Rs 2217 crore versus Rs 1843 crore
* EBIT expected to be seen at Rs 1488 crore versus Rs 2563 crore
* EBIT margin expected to be seen at 58.74% versus 79.76%
* Net profit expected to be seen at Rs 696 crore versus Rs 595 crore
MASTEK
* Revenue expected at Rs 849 crore versus Rs 812 crore
* EBIT expected to be seen at Rs 112 crore versus Rs 103 crore
* EBIT margin expected to be seen at 13.19% versus 12.68%
* Net profit expected to be seen at Rs 81 crore versus Rs 71 crore
OBEROIRLTY
* Revenue expected at Rs 1233 crore versus Rs 1217 crore
* EBITDA expected to be seen at Rs 696 crore versus Rs 636 crore
* EBITDA margin expected to be seen at 56.44% versus 52.25%
* Net profit expected to be seen at Rs 498 crore versus Rs 456 crore
TATACONSUM
* Revenue expected at Rs 4347 crore versus Rs 3733 crore
* EBITDA expected to be seen at Rs 632 crore versus Rs 537 crore
* EBITDA margin expected to be seen at 14.53% versus 14.38%
* Net profit expected to be seen at Rs 339 crore versus Rs 352 crore
ZEEL
* Revenue expected at Rs 2098 crore versus Rs 2437 crore
* EBITDA expected to be seen at Rs 275 crore versus Rs 332 crore
* EBITDA margin expected to be seen at 13.10% versus 13.62%
* Net profit expected to be seen at Rs 118 crore versus Rs 242 crore
- October 18, 2024 08:03
Stock market updates: Fund Flow Activity: 17 October 2024
(Rs. In Crs.)
Turnover: (NSE + BSE)
Cash Volume: 99898.22 + 6045.3 Total: 105943.52
F&O Volume: 626566.03 + 1546695.05 Total: 2173261.08
Provisional Cash
FII/FPI: NET SELL: -7421.4
(9721.1 - 17142.5)
DII: NET BUY: +4979.83
(16817.01 - 11837.18)
- October 18, 2024 08:02
Stock market live updates: Axis Bank 2QFY25 Earnings
- October 18, 2024 08:01
Stock market updates: Economic Calendar – 18.10.2024
07:30 CHINA GDP q/y (Expected: 4.6% versus Previous: 4.7%)
07:30 CHINA Retail Sales y/y (Expected: 2.5% versus Previous: 2.1%)
07:30 CHINA Industrial Production y/y (Expected: 4.6% versus Previous: 4.5%)
11:30 U.K. Retail Sales m/m (Expected: -0.3% versus Previous: 1.0%)
18:00 U.S. Building Permits (Expected: 145M versus Previous: 1.48M)
21:40 U.S. FOMC Member Waller Speaks
- October 18, 2024 06:58
Stock market updates: Wipro records 21% rise in profit at ₹3,209 cr in Q2
IT major Wipro has recorded a 21 per cent profit rise, beating market estimates. While revenue and margins reported were largely in line with street estimates in Q2, the outlook for next quarter isn’t encouraging.
On a quarter-on-quarter (q-o-q) basis, profits were up 6.85 per cent. Revenue from operations stood at ₹22,302 crore, registering marginal growth on a sequential basis, and a 1 per cent YoY decline.
- October 18, 2024 06:48
IPO Updates: Hyundai Motor India IPO sails through with help from institutions
Hyundai Motor India’s (HMIL) initial public offering (IPO), the largest to date, sailed through on the final day, with help from qualified institutional buyers (QIBs).
The IPO, which opened on October 15, was subscribed 2.37 times overall. The QIB portion was subscribed nearly seven times, with bids for 19.72 crore shares against 2.82 crore shares on offer. The quota for employees was subscribed 1.74 times.
- October 18, 2024 06:45
Stock market updates: Birla Tyres’ Balasore plant expected to restart production activities from FY26
Birla Tyres’ Balasore plant in Odisha is expected to restart production activities from the next fiscal, said Anurag Choudhary, CMD & CEO, Himadri Speciality Chemical.
Kolkata-based Himadri Speciality Chemical, India’s largest speciality carbon black maker, is one of the owners of Birla Tyres Ltd. Himadri and Dalmia Bharat Refractories had participated in the corporate insolvency resolution process of the tyre maker and jointly acquired the company for ₹306 crore.
- October 18, 2024 06:44
Stock market updates: Jindal Stainless faces export challenges amid geopolitical strife and container shortages
Geopolitical issues - including strife in West Asia - have hit exports of Jindal Stainless Ltd with freight rates shooting up 3x - 4x across geographies. Moreover, there has been an absence of containers, most of which have been “cornered by China”, says Abhyuday Jindal, Managing Director of the company.
- October 18, 2024 06:43
Stock market updates: Reliance Brands forms new JV with Mothercare Plc for South Asia market
Reliance Brands has formed a new joint venture with Mothercare plc that will own the Mothercare brand and its intellectual property assets related to the regions of India, Nepal, Sri Lanka, Bhutan, and Bangladesh. Reliance Brands first acquired the rights to the UK-based Mothercare brand for the Indian market in 2018.
- October 18, 2024 06:42
Stock insights: Infosys Q2 results: Nothing to celebrate or complain about, but will current valuations sustain?
While the management comments indicate prolonged weakness in the financial services vertical (27 per cent of revenues) may have bottomed out, it may be too early to get optimistic
- October 18, 2024 06:39
WATCH: Stock Recommendations: Stock to buy today: Tech Mahindra (₹1,699.6
The stock of Tech Mahindra, since mid-August, has been in a sideways crawl. It has largely been oscillating between ₹1,580 and ₹1,660. However, early this week, the stock broke out of ₹1,660, opening the door for further appreciation. Although the scrip moderated post the breakout, the rebound happened on Thursday indicates that the bulls are in the driving seat.
- October 18, 2024 06:37
Stock market live today: Trading Guide for October 18: 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
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