And that's a wrap on NDTV Profit's live market coverage. Thank you for joining us!
Stock Market Today: Nifty, Sensex Closes Strong
The NSE Nifty 50 and BSE Sensex ended higher tracking a rise in Infosys Ltd. Tata Consultancy Services and HCLTech Ltd. shares also contributed.
Both the indices closed 0.39% higher.
The NSE Nifty IT was the top performing sectoral index while the NSE Nifty Oil and Gas was the worst performing sectoral index.
The NSE Nifty Midcap 150 and NSE Nifty Smallcap 250 ended 0.20% and 0.26% higher, respectively.
Rupee Closes Stronger Against US Dollar
Rupee closed 17 paise stronger at 88.10against US dollar
It settled at 88.27 on Friday
Source: Bloomberg
Stock Market Today: Ask Automotive's Chief Marketing Officer Resigns
Ask Automotive's chief marketing officer Prashant Kumar Gupta resigned as chief marketing officer, the company said in the exchange filing.
Stock Market LIVE: Regaal Resources Q1 Earnings Key Highlights
Net Profit fell1.1% to Rs 9 crore versus Rs 9.1 crore
Revenue rose 26.5% to Rs 246.5 crore versus Rs 194.8 crore
Ebitda rose 2.1% to Rs 24.4 crore versus Rs 23.9 crore
Margin at 9.9% versus 12.3%
Clear Govt Policies, Tax Regulations To Encourage Crypto Investments: Mudrex Report
Clear regulations and policies will likely spike investment in crypto assets, as per latest survey report from Mudrex. The survey showed that 90% people believe clearer government policies would encourage crypto investment.
The survey also showed that the view is consistent across all age group. However, people in the age group of 25–37 will most likely increase their investment in the digital asset once there is clarity over government regulation.
JLR Follows BMW, Audi To Pass GST Cut Benefit To Customers
Luxury car maker Jaguar Land Rover on Tuesday announced that it will pass on the full GST rationalisation benefit to customers starting Sept. 9. This follows similar announcements by German rivals BMW and Audi.
The GST Council on Sept. 3 announced that GST rate on petrol and petrol hybrid, liquified petroleum gas, and compressed natural gas cars (not exceeding 1200 cc and 4000mm) will be reduced from 28% to 18%. Moreover, electric vehicles will continue to have 5% GST, with no changes. All automobile parts will have a uniform taxation rate at 18%.
Stock Market LIVE: NBCC In Pact With NMRDA To Develop Naveen Nagpur
NBCC Ltd. is in pact with NMRDA for development of Naveen Nagpur. NMRDA stands for Nagpur Metropolitan Region Development Authority.
Stock Market Today: LTIMindtree Renews Pact With OKQ8
LTIMindtree Ltd. renewed pact with fuel company OKQ8 for next generation digital transformation, the company said in the exchange filing.
Stock Market LIVE: Nuvama On Max Healthcare
Initiated buy with target price of Rs 1,430
Doubling of bed capacity to drive volumes, limiting ARPOB risk
Execution excellence and prudent capital allocation to sustain health
Strategically located in growth hubs; competitively positioned
Best-in-class returns ratios and metrics justify premium valuation
Nifty 50| Sensex| Stock Market LIVE: Bikaji Foods Gets Summons From ED
Bikaji Foods received summons from Enforcement Directorate seeking in-person presentation of managing director, the company said in the exchange filing.
Stock Market LIVE: Railtel Corp Gets Order Worth Rs 18.6 Crore
Railtel Corp received order worth Rs 18.6 crore from Indian Railway Catering and Tourism Corp for comprehensive cyber security intelligence services, the company said in the exchange filing.
Pharma Players To Counter US Tariff Pain? THIS D-Street Expert Has A Plan: 'Diversify Away From...'
The Indian diagnostic services market currently is worth Rs. 774 billion with the expansion expected to hit nearly Rs 1,200 billion by FY28. Industry experts believe some of the key growth drivers for the diagnostic sector are an increased focus on preventive diseases and wellness.
Early intervention is the second growth factor, which involves screening, early detection, and monitoring reduce downstream healthcare costs. Evidence-based treatment is also important due to the rise in demand for evidence-based medical treatments. Finally, lifestyle diseases, which are growing the demand for services related to the diseases.
Stock Market LIVE: Swiggy Order Costs 80% More Than Offline Bill; 'Please Explain', Says Customer
A Swiggy customer has alleged that food ordered via the food delivery platform cost him 80% more than buying the same items directly from the restaurant just two kilometres away. This comes after both food delivery majors Swiggy and Zomato increased their platform fees last week with the onset of festive season demand surge. Swiggy's platform fee was raised by 25% to Rs 15, while Zomato's fee was raised to Rs 12.
Stock Market Today: SEBI Vs Jane Street: SAT To Next Hear The Case On Nov. 18
The Securities Appellate Tribunal has fixed the Jane Street appeal against the SEBI interim order for Nov 18. The regulator has given time to both the parties to file their replies after hearing detailed submissions.
The US-based trading firm claims that India's market watchdog did not provide complete and relevant trade data and is suppressing crucial documents.
Stock Market LIVE: Waaree Renewable Gets Order Worth Rs 1,252 Crore
Waaree Renewable received the letter of award worth Rs 1,252 crore for solar power project. The project is for engineering, procurement, and construction for 870 megawatt alternating current and 1,218 megawatt peak grid connected ground mount solar power project.
Stock Market Today: Buyback Over Breakthroughs? When Infosys Missed OpenAI Investment Opportunity
Infosys Ltd. has been in focus as the IT giant is considering its first buyback in three years, raising questions about the company's long-term strategic priorities and in particular, a missed opportunity in OpenAI.
Stock Market LIVE: Vadilal Industries Appoints Himanshu Kanwar As CEO
Vadilal Industries' board approved appointment of Himanshu Kanwar as chief executive officer with effect from Sept 29, the company said in the exchange filing.
Nifty 50| Sensex| Stock Market Today: Ambuja Cement Share Price Edges Higher As CLSA Maintains 'Outperform'
Ambuja Cement Ltd.'s share price rose 1% on Tuesday following positive commentary from CLSA. The brokerage maintained its 'Outperform' rating for the cement giant, with a target price of Rs 665, citing an improving demand and profitability outlook. As per the brokerage, Ambuja Cement expressed a constructive view on the company's prospects.
A significant portion of the conversation centred on the potential impact of the recent GST reduction on cement demand and profitability. On Sept. 3, The GST Council on approved the reduction of GST on cement from 28% to 18%.
Stock Market LIVE: Jio Financial Executes Pact With Allianz Europe
Jio Financial Services has executed joint venture pact with Allianz Europe to form domestic reinsurance joint venture company. It has incorporated JV Allianz Jio Reinsurance for Reinsurance Business in India, the company said in the exchange filing.
Nifty 50|Sensex| Stock Market LIVE: TCS Signs Pact With CEA To Advance Physical AI Research & Innovation In France
Tata Consultancy Services is in pact with CEA to advance physical AI research and innovation in France. It is in pact with CEA to develop intelligent Robotics Solutions across Industrial Sectors, the company said in the exchange filing.
Nifty 50|Sensex| Stock Market LIVE: Alembic Pharma Gets US FDA Nod For A Drug To Treat Vitamin K Deficiency
Alembic Pharmaceuticals Ltd. received US Federal Drug Administration's AND approval for phytonadione injectable emulsion. Phytonadione is used in treating vitamin k deficiency.
Stock Market LIVE: Prime Focus Share Price Surges To Record High After Madhusudan Kela, Ramesh Damani Acquire Stake
Prime Focus share price rallied over 10% in trade so far after ace investors like Madhusudan Kela and Ramesh Damani bought a stake in the company. Their acquisitions were part of a block deal in which three Singapore-based entities divested a combined 3.8% stake through open market transactions.
Nifty 50|Sensex|Stock Market LIVE: Maruti, M&M, Other Auto Stocks Trade Mixed After Brokerage Upgrades
Auto stocks traded mixed on Tuesday morning after target price upgrades from global brokerages Morgan Stanley and Bank of America, across several key players in the sector.
The broader sentiment in the auto sector has been driven by the recent GST rate cut, which has sparked a rally of over 5% in Nifty Auto since the announcement.
Stock Market LIVE: Railtel Corp Share Price Jumps Over 6%
Railtel Corp share price jumped 6.32% to Rs 367.80, the highest level since Aug 21. The company received a letter of acceptance from State Project Director Bihar Education Project Council worth Rs 44.21 crore.
Stock Market LIVE: HDFC Bank Reduces Lending Rates: Check How Much Your EMIs Will Decrease
HDFC Bank has announced a reduction in its Marginal Cost of Funds-based Lending Rate or MCLR on select tenures by up to 5 basis points. This move is a welcome development for borrowers with loans linked to this benchmark, as it is expected to translate into a reduction into the EMIs.
The new rates came into effect on Sept. 8, and are a direct move of the bank's to align with the broader market. Following this revision, the six-month and one-year MCLR rates have been cut by 5 bps, from the previous 8.70% to 8.65%.
Stock Market LIVE: IT Department Concludes Searchs At Archean Chemical's Offices
Income Tax Department concluded search at Archean Chemical's offices, plants of company and subsidiaries today, the company said in the exchange filing.
Stock Market LIVE: Amanta Healthcare Shares List At 7% Premium After Strong IPO
Amanta Healthcare Ltd. shares saw single-digit gains in their stock market debut on Tuesday. Shares of the pharmaceutical company opened at Rs 135 apiece on the NSE and Rs 134 on the BSE. The IPO price was Rs 126.
The initial pubic offering was a book-built issue worth Rs 126 crore, comprising entirely a fresh issuance of 1 crore shares. The mainboard IPO was open for subscription from Sept 1 to Sept 3.
Bond Yields May Ease Further With Macro Conditions In Place; SDLs Likely To Buck The Trend
Yields on the 10-year benchmark bonds could ease given supportive domestic conditions and the global backdrop.
Yields on the benchmark 10-year G-Sec had hardened ahead of the GST council meet amidst concerns that recent days' proposed cuts in the Goods and Services Tax revived fiscal concerns and raised fears of increased debt supply. The benchmark bond yield was at 6.448% on Tuesday as of 9:56 a.m., from 6.585% at the start of the month.
Nifty 50|Sensex| Stock Market LIVE: Prime Focus Share Price Jumps 10%
Prime Focus share price jumped 10% to Rs 191.62 apiece. It was trading 8.15% higher at Rs 188.40 apiece as of 9:42 a.m.
Stock Market LIVE: Moschip Technologies Snaps Seven-Day Rally
Moschip Technologies share price consolidated after a seven-day rally. The share price was trading 7.28% down at Rs 243.56 apiece as of 9:40 a.m.
Stock Market LIVE: Infosys Shares Rise 3% As Board Mulls Buyback
Infosys Ltd. shares rose during early trade on Tuesday after the company announced that its board will consider a proposal for buyback of equity shares on Sept. 11.
Infosys' share price advanced 3.6% to Rs 1,485 apiece. The benchmark NSE Nifty 50 was up 0.3%.
Sectoral Performance At Open: Nifty IT Outperforms
On National Stock Exchange, 11 sectoral indices advanced with the NSE Nifty IT leading gains. Two remained flat and three declined out of 15.
Nifty Contributors: Infosys, HDFC Bank And TCS Support Gains
Infosys Ltd., HDFC Bank Ltd., Tata Consultancy Services Ltd., HCLTech Ltd., and Larsen & Toubro Ltd. added to the NSE Nifty 50 index.
ICICI Bank Ltd., Mahindra & Mahindra Ltd., Eternal Ltd., Bajaj Auto Ltd., and Hindustan Unilever Ltd. weighed on the NSE Nifty 50 index.
Stock Market LIVE: Nifty, Sensex Open Higher
The NSE Nifty 50 and BSE Sensex opened higher on Tuesday tracking a rise in Infosys Ltd. and HDFC Bank Ltd. Infosys board to consider share buyback on Thursday, which is the first buyback from any top IT company in last two years.
Yield On 10-Year Bond Opens Lower
The yield on the 10-year bond opened 3 basis points lower at 6.44%
It closed at 6.47% on Friday
Source: Cogencis
Rupee Opens Stronger Against US Dollar
Rupee opened 27 paise stronger at 88.00 against US dollar
It settled at 88.27 on Friday
Source: Bloomberg
Asia Market LIVE: Japan's Nikkei 225 Hits Fresh High
Japan's benchmark index Nikkei 225 rose 1.24% to a record high of 44,185.73. The index has been rising after Prime Minister Shigeru Ishiba resigned from his post.
After BofA, Morgan Stanley Raises Target Prices For Top Automakers Like Maruti, Hyundai, M&M
The auto sector is entering an upcycle, according to Morgan Stanley, with multiple factors set to support future growth. This positive outlook is reflected through the broking's upgrades and the hikes in target prices for players leading the pack.
The brokerage highlights that the sector's positive momentum is supported by the GST rationalisation, which could lead to unprecedented price cuts for consumers.
Stock Market LIVE: CLSA On Swiggy
Maintain Outperform with a target price of Rs 509
Management confident in QC contribution margin breakeven
Focus to be on store densification rather than width
Food delivery business: GOV growth expectations of 18-20% over next 2-3 years
Announced flagship sale ‘Quick India movement’ before ecommerce giants
Infosys To Consider First Share Buyback For First Time In Three Years
Infosys Ltd. will consider first buyback in three years on Thursday. The company may spend Rs 13,560 crore in the buyback.
The buyback has been priced at average premium of 25%. On an average, Infosys spends 30% cash on buyback. On an average, Infosys buys back 14–15% of networth.
Asia Market LIVE Update: MSCI Asia-Pacific Rises To Over Four-Year High
MSCI Asia-Pacific Index, which gauges the performance of equities in the region, reached to the highest level since Feb 16, 2021 as gains in Japan and South Korea supported. The markets in the region are tracking optimism on Wall Street about rate cuts by the US Federal Reserve.
The Nikkei 225 and KOSPI were trading 0.34% and 0.63% higher, respectively as of 7:32 a.m.
Experts' Pre-Market View: Nifty Expiry Volatility In Focus
"Traders should brace for expiry-day volatility, as today marks the second Tuesday weekly expiry for Nifty options. While the India VIX has remained in a cooled-off range, sharp swings cannot be ruled out. On the downside, a clear break below 24,700 could drag the index towards the 24,600–24,650 support zone. However, a breakout above 24,800, accompanied by high volumes, may open the path to 24,950–25,000."Hariprasad K, Research Analyst & Founder, Livelong Wealth
"The index is consolidating in the 24,700–24,800 zone, with a descending resistance trendline from recent highs at 24,885. Immediate support is seen at 24,750, with a strong downside cushion at the 200-day EMA of 24,631. On the upside, a breakout above 24,900 could open the path toward 25,000 and beyond, provided momentum builds on the back of FII inflows and a supportive monsoon outlook, though muted earnings growth remains a headwind."Ponmudi R, CEO, Enrich Money,
LIVE: GIFT Nifty Hints At Tepid Open; Infosys, Tech Mahindra, TVS Motor, RVNL Shares In Focus
The GIFT Nifty was trading 0.03% or 8 points down at 24,951.50 as of 6:31 a.m., which implied flat-to-negative open for the NSE Nifty 50 index.
Market participants will keep an eye on TVS Motor Co., Rail Vikas Nigam Ltd., Infosys ltd., Tech Mahindra Ltd., Railtel Corp, and Brigade Enterprises Ltd.
The benchmark equity indices ended flat on Monday after falling sharply in the last hour of trade, closing near the day's low.
The NSE Nifty 50 settled 32.15 points or 0.13% higher at 24,773.15 and the BSE Sensex closed 76.54 points or 0.09% up at 80,787.30.
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