KEY HIGHLIGHTS
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Hindustan Coca-Cola To Retain MRP's Of All Beverages Ahead Of Sept 22nd GST Rate Rejig| Profit Exclusive
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Indonesia, Nepal Protests: Godrej Consumer, ITC, Dabur Among Companies Exposed To Unrest, Says Macquarie
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"GST Rate Cuts Will Boost Earnings": Goldman Sachs Overweight on Consumer Stocks — Here's Why
Rupee Hits Record Low Against US Dollar
Rupee fell 28 paise to record low of 88.38 against US dollar
It closed at 88.10 a dollar on Wednesday
Source: Bloomberg
Stock Market LIVE: Veranda Learning To Demerge Vertical
Veranda Learning to demerge commerce vertical as part of Veranda 2.0 vision. JK Shah commerce education to conduct all future operations of commerce vertical.
Stock Market LIVE: Waaree Energies Share Price Hits Life High
Waaree Energies share price jumped 7.77% to a record high of Rs 3,748 apiece.
Stock Market LIVE: Prostarm Info Gets Order Worth Rs 158.6 Crore
Prostarm Info received order worth Rs 158.6 crore for supply and installation of CCTNS IT infrastructure and peripherals, the company said in the exchange filing.
Vijay Kedia-Backed TechD Cybersecurity IPO To Open Next Week: Check Price Band, Key Dates And More
Vijay Kedia-backed TechD Cybersecurity Ltd. is all set to launch its Rs 40-crore SME initial public offering next week. The company has fixed a price band of Rs 183-193 per share, where investors can bid for 600 shares in one lot.
The IPO will open for public subscription on Sept. 15 and close on Sept. 17. The bidding for anchor investors will open for a day on Sept. 12, according to the red herring prospectus.
Stock Market LIVE: GMDC Share Price Falls Sharply
Gujarat Mineral Development Co share price fell sharply in Thursday. The share price jumped 8.83% to Rs 568.45 apiece. However, it erased all gains to trade 3.80% lower at Rs 502 apiece as of 1:09 p.m.
Also Read: GMDC Share Price Falls 14% From Day's High
Stock Market LIVE: Jupiter Life Line Gets Motion Application From NCLT
Jupiter Life Line received first motion application from NCLT for amalgamation of arm Medulla Healthcare, the company said in the exchange filing.
IPO News: Dev Accelerator IPO Subscribed 10.75 Times On Day Two
The IPO was subscribed 10.75 times on Thursday as of 1:00 p.m. , as per BSE data.
Qualified Institutional Buyers: 1.17 times.
Non-Institutional Buyers: 9.56 times.
Retail Investors: 41.99 times.
Employee Reserved: 4.62times.
Reservations Portion Shareholders: 9.08 times.
Stock Market LIVE: Zaggle Prepaid To Provide Additional Features To Blinkit
Zaggle Prepaid Ocean Services signed addendum 1 to master agreement entered with Blinkit on Dec 5. The agreement to provide additional features to Blinkit in the existing Zaggle Zoyer Platform, the company said in the exchange filing.
HSBC Global Projects 23% Upside In NTPC After Upgrading To Buy — Find Out Why Here
HSBC Global Research is seeing 23% upside potential for NTPC Ltd. as it upgraded to Buy and hiked target price. The global brokerage is seeing multiple growth levers for the the thermal power company.
HSBC Global Research has hiked the target price to Rs 400 from Rs 325 apiece.
Nifty 50|Sensex| Stock Market LIVE: Government Plans To Retain Market Borrowing Plan
Government planned to retain market borrowing plan post GST rate cuts in the second half of the financial year, Bloomberg reported. It intends to retain any loss from the GST rate cuts.
Moreover, the centre will not cut capital expenditure and likely remain on track to meet fiscal deficit target of 4.4%.
Stock Market LIVE: TCS Launches Chiplet-Based System Engineering Services
Tata Consultancy Services launched Chiplet-based system engineering services designed to help semiconductors companies.
Hindustan Coca-Cola To Retain MRP's Of All Beverages Ahead Of Sept 22nd GST Rate Rejig| Profit Exclusive
Hindustan Coca-Cola to retain MRP's of all beverages ahead of Sept 22nd GST rate rejig
Coca-Cola unlikely to change prices of Aerated/Carbonated/ Sugary drinks
Coca-Cola, Sprite, Fanta, Thums Up, Limca, Minute Maid and Maaza MRPs to be retained at current MRPs
Hindustan Coca-Cola to absorb the GST rate differential to pass on benefit to consumers
Price of HCCBs packaged drinking water Kinley to be slashed soon
Alert: 40% GST will apply to all non-alcoholic beverages
GST on 20-litre bottled water cut from 12% to 5%
Nifty 50|Sensex| Stock Market LIVE: Financials To Be Major Movers Of Market Movement, Says Mihir Vora
Financials will be a major driver of market movement, said Mihir Vora. He sees more sectors are coming under product-linked incentive scheme. Real granular growth is happening in the broader markets, he said.
Stock Market Today: Jupiter Wagons Share Price Spikes On Bagging Rs 113-Crore Order From Indian Railways
Jupiter Wagons Ltd.'s share price rose 8.08% on Thursday after the manufacturer received a major order from Indian Railways. The company’s arm Jupiter Tatravagonka Railwheel Factory has received a Letter of Acceptance from the Ministry of Railways, Railway Board, for an order worth approximately Rs 113 crore to supply 9,000 LHB axles.
Stock Market LIVE: HAL Receives Third GE-404 Engine For LCA Mark-1A Combat Aircraft Programme From US
Indian public sector aerospace firm Hindustan Aeronautics Ltd., has received the third GE-404 engine for the LCA Mark-1A combat aircraft programme from the US, as per an ANI report on Thursday.
The fourth engine is expected to arrive in India by the end of this month, as per the report. Further, HAL is set to soon manufacture the Small Satellite Launch Vehicle (SSLV) rockets developed by ISRO. The company had become the successful bidder for the manufacturing and design technology in June.
Stock Market LIVE: Goodluck India Share Price Slumps 14% In Two Session
Goodluck India share price slumped 14% in last two session. The stock was trading 6.05% down at Rs 1,080 apiece as of 10:34 a.m.
Nifty 50|Sensex| Stock Market LIVE: Nifty IT Reverses Two-Day Rally As Infosys Share Price Weighs
The NSE Nifty IT index reversed a two-day rally as Infosys share price weighed. The index was trading 0.77% down at 35,907 as of 10:31 a.m.
Nifty 50| Sensex| Stock Market LIVE: Infosys Share Price Under Pressure As Board Set To Consider Fifth Buyback
Infosys Ltd.'s share price declined on Thursday, falling 1.30% as the technology giant's board is set to meet on Sept. 11 to consider its fifth buyback program. Notably, this is going to be company's first buyback in three years. Infosys had conducted four buybacks from 2017 to 2023.
Stock Market LIVE: HAL Share Price Rises
Hindustan Aeronautics Ltd. share price rose 1.02% to Rs 4,604 apiece. Defence officials said to ANI that fourth GE-404 Engine will arrive in India by the end of this month which will be given to the company.
Stock Market LIVE: Jupiter Wagons Share Price Jumps 8%
Jupiter Wagons Ltd. share price jumped 8.08% to Rs 345 apiece, the highest level since Aug 22. The company’s arm Jupiter Tatravagonka Railwheel Factory has received a Letter of Acceptance from the Ministry of Railways, Railway Board, for an order worth approximately Rs 113 crore to supply 9,000 LHB axles.
Adani Power's Capacity Doubles In Madhya Pradesh After Greenshoe Option
Adani Power Ltd.'s total capacity almost doubled in Madhya Pradesh to 1,600 megawatt from 800 megawatt after state power generating company used a greenshoe option. The company has secured letter of award for a power project from Madhya Pradesh Power Generating Co, the company informed the exchanges.
Nifty 50|Sensex| Stock Market LIVE: ACME Solar Shares Hit Record High
ACME Solar Holdings Ltd. shares hit a record high in early trade Thursday after a subsidiary secured long-term project funding of Rs 3,892 crore from State Bank of India for the development and construction of a 400 MW renewable energy project.
The repayment of the SBI loan is spread across 19 years. The project is being developed in Barmer, Rajasthan, by ACME Venus Urja Pvt. and is contracted with government-owned NHPC Ltd. at a tariff of Rs 4.64 per unit, the company said in a stock exchange filing.
Akzo Nobel's Business To Get Better From Third Quarter, Says Chairman Rajiv Rajgopal
From third quarter onwards, Akzo Nobel India will see its business getting better, said Chairman and Managing Director Rajiv Rajgopal said.
Dealer destocking was seen post acquisition announcement. Diwali will be truncated. Conclusion of acquisition by end of year or early January, he said.
Stock Market LIVE: HSBC on NTPC
Upgrade to Buy from Hold; Hike TP to Rs 400 from Rs 385
Multiple growth levers
NTPC is at the forefront of power management and generation, with the latest in the repository being battery and nuclear
More than half of planned capex still in RTM route, providing
certainty of superior long-term earnings growth, in our view
Tega Industries Aims To Expand Operating Profit $350 Million, MD Mehul Mohanka Says
Tega Industries' attempt will be to expand to $350 million EBITDA in next 3 years, Managing Director Mehul Mohanka said. The company is expecting return on equity of 18% going forward.
Molycop is very complimentary in nature to our current business, Mohanka said in an interview to NDTV Profit. No debt of Molycop will come to Tega’s book at this moment.
Molycop operates at 14 locations globally, will look at how we can further improve the assets, the company said.
Nifty 50|Sensex| Stock Market Today: Oracle Financial Services Share Price Pare Gains
Oracle Financial Services Software Ltd. share price pared gains in Thursday's session. The company said that there is no direct impact on Oracle Financial Services' business because of Oracle Group's upbeat revenue guidance.
Indonesia, Nepal Protests: Godrej Consumer, ITC, Dabur Among Companies Exposed To Unrest, Says Macquarie
Godrej Consumer Products Ltd., Dabur India Ltd., ITC are among other companies which are staring at fresh challenges in their international business as political unrest in Indonesia and Nepal threatens to derail growth, according to a brokerage note by Macquarie.
Sectoral Performance At Open: Nifty Media Outperforms
On National Stock Exchange, eight sectoral indices advanced, three declined, and four remained flat out of 15.
Nifty Detractors: Infosys, HDFC Bank And Airtel Shares Weigh
Infosys Ltd., HDFC Bank Ltd., ICICI Bank Ltd., Bharti Airtel Ltd., and SBI Life Insurance Co weighed on the NSE Nifty 50 index.
Eternal Ltd., Tata Consultancy Services Ltd., NTPC Ltd., Adani Ports And Special Economic Zone Ltd. and ITC Ltd. added to the NSE Nifty 50 index.
Nifty 50| Sensex| Stock Market Today: Nifty, Sensex Open Flat
The NSE Nifty 50 and BSE Sensex opened flat with a negative bias tracking weakness in Infosys Ltd., HDFC Bank Ltd., and ICICI Bank Ltd. The indices were trading on a mixed note.
Nifty 50, Sensex At Pre-Open: Trade Lower
The NSE Nifty 50 declined 0.11% to 24,945 and the BSE Sensex fell 0.18% to 81,277.
71 Dividend Stocks: Cochin Shipyard, Garden Reach, KPI Green, Mastek — Last Day To Buy Shares To Qualify
Shares of Cochin Shipyard Ltd., Garden Reach Shipbuilders & Engineers Ltd., KPI Green Energy Ltd. and 68 other companies will be of interest on Thursday, as it marks the last session for investors to buy shares to qualify for receiving the dividend before the stock goes ex/record-date.
The record date determines shareholder eligibility for receiving a dividend.
Yield On 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.47%
Source: Cogencis
Rupee Opens Weaker Against US Dollar
Rupee opened 3 paise weaker at 88.13 against US dollar
It closed at 88.10 a dollar on Wednesday
Source: Bloomberg
Stock Picks Today: Adani Ports, TCS, Godrej Consumer On Brokerages' Radar
Adani Ports & Special Economic Zone Ltd., Adani Energy Ltd., Tata Consultancy Services Ltd., are among the companies garnering brokerage commentary today.
Analysts have shared their insights and, in several cases, revised their target prices based on their updated fundamental outlooks for these firms. Here are the key analyst calls to watch out for today:
"GST Rate Cuts Will Boost Earnings": Goldman Sachs Overweight on Consumer Stocks — Here's Why
Goldman Sachs reiterated its overweight position on consumer-sensitive stocks as it expects these stocks will outperform because of the GST rate cuts, which is anticipated to drive earnings growth. The brokerage has upgraded the rating for cement and consumer durables to marketweight.
Consumer sensitive stocks which are in Goldman Sachs' radar have outperformed the NSE Nifty 50 stocks by 8% since the GST announcement on Aug 15. These stocks have outperformed the overall market by 11% quarter-to-date basis, the brokerage said.
Buy BSE, TCS Shares, Suggests Analyst Kunal Rambhia — Check Target Price, Stop Loss And More
Kunal Rambhia, Fund Manager & Trading Strategist at The Streets, is bullish on BSE Ltd. and Tata Consultancy Services Ltd., issuing buy calls on both the stocks heading into trade today.
Dr. Reddy's Acquires J&J's Stugeron Portfolio For Rs 445 Crore, Enters Anti-Vertigo Segment
Dr. Reddy’s Laboratories Ltd. on Thursday announced a deal with Johnson & Johnson affiliate Janssen Pharmaceutica NV to acquire its anti-vertigo drug under the 'Stugeron' brand for $50.5 million or Rs 445 crore.
The local drugmaker will acquire the 'Stugeron' brand, including its key local brands Stugeron FORTE and Stugeron PLUS, as well as its related assets across 18 markets in the Asia-Pacific (APAC) and Europe, Middle East, and Africa (EMEA) regions, with India and Vietnam as key markets, according to a statement.
Gold Prices Consolidate
Gold prices consolidated in Thursday's session. It hit a record high in the previous session as the possibility of a rate cut by the US Federal Reserve continued to increase.
The bullion was trading 0.12% down at $3,636 an ounce.
How US Markets Perform Overnight?
The S&P 500 and Nasdaq Composite hit a record high as weak inflation data reaffirmed hopes of a rate cut by the US Federal Reserve. US Producer Price Index fell 2.6% on the year in August compared to market expectation of 3.3%.
The S&P 500 rose to a record high of 6,555.97, and the Nasdaq Composite hit a record high of 22,000.97
Stock Market Today: F&O Cues
Nifty Sep futures is up by 0.52% to 25,079 at a premium of 106 points.
Nifty Sep futures open interest up by 1.77%.
Nifty Options Sept. 16 Expiry: Maximum Call open interest at 26,000 and Maximum Put open interest at 24,000.
Securities in ban period: RBL Bank
Pre-Market Experts' View: Nifty Showing Early Signs Of Bearish Trend
"The RSI is hovering in the 55–60 range, comfortably away from overbought levels but flashing early signs of bearish divergence, as prices make higher highs without equivalent strength in momentum. First support lies near 24,850, where the EMAs converge with the lower trendline. A decisive break below this may open the door to 24,700–24,600, while a deeper fall towards 24,300 cannot be ruled out if 24,600 is breached."Hariprasad K, Research Analyst and Founder, Livelong Wealth
Stock Market LIVE: Dr. Reddy's Labs In Pact With J&J Janssen Pharma
Dr. Reddy's Laboratories is in pact with J&J Janssen Pharmaceutical to acquire Stugeron Brand for $50.5 million, the company said in the exchange filing.
Asia Markets LIVE: KOSPI Hits Record High
South Korea's benchmark index KOSPI hit a record high. The index has been steadily rising for seven session.
Markets in Japan, Mainland China, Hong Kong, and Australia were trading higher tracking an overnight gains on Wall Street.
LIVE: GIFT Nifty Hints At Positive Pre-Open; Eicher Motors, RIL, Shipping Corp, RVNL In Focus
The GIFT Nifty was trading 0.06% or 15.50 points higher at 25,088.50 as of 6:42 a.m., which implied that the NSE Nifty 50 will likely open higher compared to previous close.
Traders will keep an eye on Eicher Motors Ltd., Reliance Industries Ltd., Shipping Corp of India, and Rail Vikas Nigam Ltd. shares.
The benchmark equity indices closed higher on Wednesday, tracking gains in information technology stocks.
The NSE Nifty 50 settled 104.5 points or 0.42% higher at 24,973.1 and the BSE Sensex closed 323.83 points or 0.4% up at 81,425.15.
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