Rupee Closes Flat Against US Dollar
Rupee closed flat at 87.20 against US Dollar
Source: Bloomberg
Nifty, Sensex At Closing
Nifty and Sensex end flat on Thursday.
Intraday, both Nifty had risen 0.29%, while Sensex rose 0.31%.
Nifty ends 0.001% or 2.50 points down at 22,545.05. Nifty closes in red for sevent session and has fallen for 15 sessions out of the last 16.
Sensex ends 0.01% or 10.31 points higher at 74,612.43.
Nifty Bank snaps four day losing streak, while Nifty IT falls for sixth day in a row.
Broader indices also closed lower. Nifty Midcap 150 ended 1.26% lower; Nifty Smallcap 250 closed 1.67% lower.
Most sectoral indices fell with Nifty Media falling the most. On the other hand, Nifty financials was the top sectoral gainer.
HDFC Bank Ltd., Bajaj Finance Ltd., and Shriram Finance Ltd. were top Nifty losers.
UltraTech Cement Ltd., Mahindra and Mahindra Ltd., and Trent Ltd. were the top gainers for the day.
CG Power Share Price Update: Large Trade
Two large trades have occurred in CG Power stock. On the NSE, nearly 2.45 million shares changed hands in the first one. Another trade of 16.2 lakh shares took place on Thursday.
CG Power Share Price Update: Large Trade
A large trades have occurred in CG Power stock. On the NSE, nearly 2.45 million shares changed hands. The shares of CG Power fell over 3.65% at Rs 576.90.
Stock Market Live: UltraTech Cement's Rs 1800 Crore Investment Announcement Wipes Out Rs 55,000 Crore
UltraTech Cement's latest announcement of its venture into the cable and wire industry on Tuesday led to the stock hitting an intraday low of 6.38% at Rs 10,264.4 on Thursday.
This caused the stock to lose a market capitalization as much as Rs 20,500 crores in a single trading sessions. Promoters lost Rs 12,000 crore.
The announcement also put heavy pressure on cable and wire companies- with top players like Polycab, KEI Industries, RR Kabel, Havells, Finolex Cables losing as much as Rs 35,500 crore in market capitalization.
Stock Market Live: Zydus Wellness Gets GST Demand Order Of Rs 56.33 Crore
Zydus Wellness Ltd. arm has received a show cause notice from the Directorate General of GST Intelligence regarding a GST demand order of Rs 56.33 crore. The demand order is dated Dec 25, 2024.
The unit is examining the GST demand order, the company said in the exchange filing.
ITC Had 30.83 Lakh Shares Change Hand In Block Trade
ITC Ltd. had its 30.83 shares traded in two large trades. It's 0.02% of its outstanding equity.
ITC's shares were traded at the price range of Rs 401.55–401.95 apiece on NSE.
ITC has 1,251 crore shares outstanding as of Dec 31, 2024
Source: Cogencis
Signature Global Aims To Achieve Zero Net Debt In FY26
Realty firm Signature Global Ltd. is targeting to achieve zero net debt during the next fiscal year on healthy internal cash flow supported by strong consumer demand for its residential projects in Gurugram.
"We will achieve zero net debt during the next financial year," Signature Global Chairman Pradeep Kumar Aggarwal told PTI. He said the company has reduced its net debt significantly and would continue to do so.
Orient Tech Ties Up With AWS
Orient Tech will collaborate with Amazon Web Services India to offer advanced GPU and AI services.
Source: Exchange Filing
Tata Steel Share Price Update: Large Trade
Two large trades have occurred in Tata Steel stock. On the NSE, nearly 11 lakh shares changed hands at Rs 136.31 valued at Rs 14.91 crore. Another trade of 6.8 lakh shares at Rs 136.94 worth Rs Rs 9.29 crore.
Nifty IT Live: Most Stocks Down
Most IT stocks are trading lower. Mphasis, Coforge, Persistent Systems and LTIMindtree had the sharpest fall.
In Other News: Finally Delhi-NCR Gets Ikea Delivery Services
Ikea has finally decided to enter the National Capital Region. The Swedish furniture giant announced the launch of its delivery services in the Delhi-NCR region, starting from March 1. The company has also promised same-day delivery within this zone, enhancing convenience for customers in the area.
Additionally, Ikea’s online delivery service will be available in nine North Indian cities: Agra, Prayagraj, Amritsar, Chandigarh, Jaipur, Kanpur, Lucknow, Ludhiana, and Varanasi.
Read full story here.
Stock Market News Live: Midday Update
Nifty 50 down 0.1%; intraday high 0.3%
Sensex flat; intraday high 0.3%
Nifty Bank up 0.6%; intraday high 0.75%
Nifty Midcap 150 down 1.4%
Nifty Smallcap 250 down 1.6%
Nifty Finance, Nifty Bank only sectoral gainers
Top Nifty Gainers: Bajaj Finance, Shriram Finance, Bajaj Finserv
Top Nifty Losers: UltraTech Cement, Trent, Hero MotoCorp
Stock Market Live: Top Market Cap Gainers And Losers
Top losers
UltraTech Cement: Around Rs 19,800 Crore
Polycab India: Around Rs 12,900 Crore
Hyundai Motors: Around Rs 9,800 Crore
Varun Beverages: Around Rs 9,300 Crore
Top gainers
Bajaj Finance: Around Rs 13,500 Crore
HDFC Bank: Around Rs 13,200 Crore
Bajaj Holdings: Around Rs 7,500 Crore
Bajaj Finserv: Around Rs 6,300 Crore
Havells India Share Price Live: UltraTech Entry Impact
Morgan Stanley On Havells India
UltraTech's foray into the cable and wire industry is unlikely to have a significant impact on Havells India.
Havells India operates one of the most diversified business models.
Seeing a gradual recovery in B2C as well as continued strong demand in B2B.
This should drive earnings over the next 12-18 months.
SRF Share Price Live: Stock Up After Emkay Target
Emkay On SRF
Maintain 'Buy' rating, target price of Rs 3,250, upside 17.5%
Worst is behind for all businesses.
Growth to be driven by stabilization of existing products.
Growth to be driven by incremental contribution from newer products.
Should see gradual pick up in specialty chemicals.
Expect firming up of refrigerant gas prices globally.
Expect improvement in the packaging films business.
Company is best placed with capex ready in specialty chemicals business.
Should benefit from agro chemical cycle turn around and improving refrigerant prices globally.
KEI Industries, Polycab Shares Hity After UltraTech's Foray
The shares of Polycab India, KEI Industries, R R Kabel, along with Havells India took a sharp hit during early trade due to the entrance of UltraTech Cement into the space.
Among key cable and wire players, KEI Industries took the sharpest fall, as the stock fell as much as 20% during the day to Rs 3,038.3 apiece on the NSE.
Macquarie expects the company's entry to have have modest impact on C&W industry. Despite today's dips, the it retains bullish stance on top picks KEI, Polycab and Havells.
SpiceJet Share Price Down 8%
SpiceJet share price landed in hot water during early trade on Thursday, falling over 8%. The street has reacted to its second and third quarter earnings as well as auditors' and management commentary.
NBFC Stocks Rise: CreditAccess Grameen, Poonawalla Fincorp Top Gainers
Most NBFC stocks rose in early trade on Thursday after the RBI eased risk weights on bank lending.
The central bank on Tuesday reduced the risk weights on bank loans to NBFCs from 125% to 100%, effective April 1. This reverses the risk weight increase implemented in November 2023, providing relief to NBFCs.
Analysts said the RBI's relaxation is a sign of a more accommodative regulatory stance, which will be highly positive for the financial sector. The reduction in unsecured loan growth from 25% to 10% indicates a cooling trend, they noted as they anticipate the regulator will eventually reduce RWA on these loans as well.
Bandhan Bank Share Price Up
Bandhan Bank share price gained over 8%. The lender will be one of the top beneficiaries owing to their higher microfinance exposures, as the Reserve Bank of India lowered the risk weights of bank loans to non-banking financial companies.
For Bandhan Bank, CET1 — a stress test to gauge a bank's liquidity and ability to survive a financial crisis — will improve by 2.5 percentage points from 13.8% to 16.3%.
Paytm Share Price Live: Volatile Swings
Paytm parent One 97 Communications share price is seeing volatility. The stock swung between adavnace and decline.
The company has partnered with Perplexity AI to integrate AI on its mobile app to enhance digital literacy. This enables users to ask everyday questions, explore topics in their local language, the company said in a press release.
Nifty Today Live: Midcap, Smallcap Stocks Down
The broader are faring worse than benchmarks. The NSE Nifty Midcap 150 fell 0.9% while Nifty Smallcap 250 tanked 1.2%, their fourth day of decline.
Samvardhana Motherson Stock Down After Large Trade
Samvardhana Motherson share price declined 2% amid high trading volume. Over 4.4 lakh shares were exchanged in a block deal worth Rs 54.93 crore.
Titagarh Rail Stock Down After Target Price Cut
Titagarh Rail Systems share price was hit after Morgan Stanley reduced its target price owing to the near-term weakness in order inflow and execution challenges.
The brokerage lowered the target price to Rs 1,090 from Rs 1,300 per share. But it maintained its 'overweight' rating due to the large addressable market and limited private competition.
Read story here.
Stock Market Today Live: Nifty, Sensex Give Up Early Gains
After rising 0.3%, both Nifty and Sensex gave up momentum to trade flat.
The Nifty will stay volatile today as it has its weekly and monthly contract expiry.
Nifty Bank Live: Most Stocks Rise
All but one of the 12 Nifty Bank stocks rose in early trade on Thursday, reacting to the RBI's move to ease risk weights on loans tp NBFCs. Analysts have cheered the move.
The central bank on Tuesday reduced the risk weights on bank loans to NBFCs from 125% to 100%, effective April 1. This reverses the risk weight increase implemented in November 2023, providing relief to NBFCs. Analysts said the RBI's relaxation is a sign of a more accommodative regulatory stance, which will be highly positive for the financial sector. The reduction in unsecured loan growth from 25% to 10% indicates a cooling trend, they noted as they anticipate the regulator will eventually reduce RWA on these loans as well.
Read story here.
UltraTech Cement Share Price Live: Down 5%
The street has reacted negatively to UltraTech Cement's entry into cables and wires business. The board on Tuesday approved capital expenditure of Rs 1,800 core to be spent over the next two years.
Stock Market Live: Nifty, Sensex Open Higher
India's benchmark equity indices opened higher on Thursday. The Nifty gained as much as 0.3% to surge above 22,600. Today is the monthly and weekly futures contract expiry.
Sensex also added 0.3% to go past 74,800.
Jupiter Wagons Share Price Live: New Order Win
Arm Jupiter Tatravagonka receiced an order worth Rs 255 crore from Braithwait & Co for supply of 9,140 wheelsets.
Source: Exchange Filing
Glenmark Pharma Share Price: New Launch In Focus
Glenmark Pharma Inc launched Epinephrine injection USP and multiple-dose vial. According to sales data for 2024, the Epinephrine Injection USP achieved annual sales of approximately $42.7 million.
Source: Exchange Filing
India Bond Yield Live: Flat Start
The yield on the benchmark 10-year Indian government bond opened flat at 6.71%
Source: Bloomberg
Rupee Vs Dollar Live: INR Weakens
Rupee opened 6 paise lower at 87.26 against US Dollar. It closed at 87.20 a dollar on Tuesday.
Source: Bloomberg
IndusInd Bank, Bandhan Bank Share Price In Focus: Positive Trigger
IndusInd Bank Ltd. and Bandhan Bank Ltd. are set to be top beneficiaries owing to their higher microfinance exposures, as the Reserve Bank of India lowered the risk weights of bank loans to non-banking financial companies.
The central bank on Tuesday reduced the risk weights on bank loans to NBFCs from 125% to 100%, effective April 1. This reverses the risk weight increase implemented in November 2023, providing relief to NBFCs.
As per Macquarie, banks should see a 20-250 basis points positive impact on Common Equity Tier 1 or CET1 ratio — a stress tests to gauge a bank's liquidity and ability to survive a financial crisis.
For Bandhan Bank, CET1 will improve by 2.5 percentage points from 13.8% to 16.3%. IndusInd Bank's ratio will rise from 15.2% to 15.8%, the brokerage expects.
CLSA said RBI's move will "further instill investor confidence" for a quick recovery in MFIs, highlighting its recent upgrade on Bandhan Bank stock.
Read full story here.
Stock Market News Live: Morgan Stanley On Titagarh Rail Systems Stock
Maintained 'overweight' rating and cut target price to Rs 1,090 apiece from Rs 1,300.
Near-term execution challenges affect the revenue trajectory.
Titagarh Rail Systems is a beneficiary of robust rail capital expenditure, but ordering so far remains subdued.
Inadequate wheel sets from Indian Railways constrain third quarter offtake.
Execution in Vande Bharat delayed nine months by a change in car design plan.
Stock Market News Live: Morgan Stanley On India Strategy
Why foreign portfolio investor flows matter:
FPI flows matter because of what they can do to macro conditions.
Incessant exits can cause a persistent negative balance of payments with concomitant effect on macro stability, earnings, and share prices.
Share prices are likely troughing, as is growth and that could spur a reversal in FPI sentiment.
Data show FPI flows do not have predictive power over share prices.
Overseas investor bids or offers are not more forceful than other flow cohorts.
The macro climate depends on FPI flows, especially when they become outsized.
Foreign investors have made strong equity returns in the long run.
Rupee Vs Dollar Live: Check INR Range
The rupee had weakened 50 paise on Tuesday to end at 87.20 against the US dollar, after stop losses were triggered above 87 due to strong bids on fix on account of Feb expiry.
The rupee is likely to open around 87.18 and trade a 87.08-87.38 range with weakening bias, according to Abhishek Goenka, Founder & CEO of India Forex & Asset Management (IFA Global).
Nifty Today: What F&O Cues Indicate
Nifty Feb futures down by 0.21% at a premium of 34.6 points.
Nifty Feb futures open interest down by 33.86%.
Nifty Options Feb 27Expiry: Maximum Call open interest at 22700 and Maximum Put open interest at 22600
Securities in ban period: Manappuram Finance
Dollar Check
The US Dollar index is up 0.08% at 106.60.
Euro was down 0.10% at 1.0473.
Pound was down 0.10% at 1.2263.
Yen was up 0.12% at 149.18.
Stock Market News Live: Global Check
Stocks in the Asia Pacific region were mixed on Thursday following new tariff announcements from US President Donald Trump on European Union. In addition, Nvidia Corp. earnings failed to rally stocks as the chipmaker drew a muted response from investors that are rather used to blowout results.
South Korea's Kospi fell 0.52%, or 13.72 points to 2,627.37, while Australia's S&P ASX 200 was up 0.35% at 8,269.70 as of 7:10 a.m. Japanese markets opened steady on Thursday.
While S&P 500 and Nasdaq 100 contracts were relatively flat, future contract in China hinted at a positive start and Hong Kong equity index futures indicated a lower open.
The US dollar remained flat, while the stocks were mixed on Thursday. The S&P 500 closed little changed while the Nasdaq 100 rose 0.26%. The Dow Jones Industrial Average closed 0.43% lower on Thursday.
Stock Market News Live: GIFT Nifty Trades Below 22,600
The GIFT Nifty was trading near 22,600 early on Thursday. The futures contract based on the benchmark Nifty 50 rose 0.04% at 22,589 as of 7:40 a.m., indicating a flat start for the Indian markets after a holiday on Wednesday.
Indian benchmark indices ended Tuesday's session mixed, with the metal sector declining the most, while media emerged as a top sectoral gainer. The NSE Nifty 50 ended 5.80 points, or 0.03% lower at 22,547.55, while the BSE Sensex closed 147.71 points or 0.20% higher at 74,602.12.
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