Market breadth was skewed in favour of buyers. Around 2,101 stocks rose, 1,714 stocks declined, and 118 stocks remained unchanged on BSE.
Gujarat Mineral Development Corporation Ltd.'s board approved Rs 3,041 crore capital outlay for FY25.
About Rs 1,138 crore will be allocated for new lignite projects, and Rs 629 crore to be allocated to expedite operationalisation of allotted coal blocks in Odisha.
Source: Exchange filing
Hindustan Zinc's Two-Way Spinoff On The Cards, Says Chairperson — Exclusive
Earnings are holding up well and there is an expectation of a 14% compound annual growth rate in earnings for the Nifty for a couple of years, according to Surendra Goyal, head of Citi Research India.
Goyal said the overall sentiment is upbeat and the third-quarter earnings support the future outlook. "When we talk to investors, valuations are something that comes (up) in talk. The premium to other emerging markets is significant," he told NDTV Profit in an interview.
Read more here.
The broader markets mirrored the larger peers, with the BSE MidCap advancing 0.79% and the SmallCap rising 0.54%.
Two out of the 20 sectors compiled by BSE declined, with information iechnology stocks declining the most.
The market breadth was skewed in favour of the buyers as 2,012 stocks advanced, 1781 declined and 121 remained unchanged on the BSE.
(As of 3:05 p.m.)
Juniper Hotels Day 2:
Qualified Institutional Buyers - 0.04 times
Non Institutional Investors - 0.10 times.
Retail Individual Investors - 0.78 times.
Total subscription - 0.19 times.
GPT Healthcare Day 1:
Qualified Institutional Buyers - Nil.
Non Institutional Investors - 0.08 times.
Retail Individual Investors - 0.52 times.
Total - 0.28 times.
(As of 2:36 p.m.)
Rail Vikas Nigam Ltd.'s Joint venture RVNL-SALASAR emerged as the lowest bidder from Madhya Pradesh Power Transmission Co.
The JV won a bid worth Rs 174 crore for the construction of 132 kV and 220 kV transmission lines.
Source: Exchange filing.
Olectra Greentech Hits Life High After Winning Order Worth Rs 4,000 Crore
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The Dollar Spot Index at $103.8
Rupee strengthened 5 paise at Rs 82.92
India 10-Year Bond Yield at 7.06%
U.S. 10-Year Bond Yield at 4.31%
Spot gold rose 0.2% to $2030.14 an ounce
Bitcoin rose 0.79% to $51,793.32
The MSCI World index down 0.14%
Larsen & Toubro Ltd. received an order in the range of Rs 1,000 - 2,500 crore for buildings and factories business.
Received order from real estate developer for construction of residential towers in Thane.
Source: Exchange Filing
A global outage on Refinitiv's forex trading platform was impacted trading activity, people in the know told NDTV Profit.
Forex traders were unable to strike trades due to the outage, sources said.
Later, Cogencis said that the technical glitch in the trading platform was resolved.
The private lender exercised the call option on 8.10% perpetual non-cumulative preference shares.
Declared a dividend of Rs 0.405 per perpetual non-cumulative preference share.
Payout of the entire call option price and dividend shall be made on March 13
Source: Exchange filing
NBCC (India) Ltd. and Housing and Urban Development Corp. entered into the two Memorandum of Understandings on Thursday.
The MoUs are signed to reinforce cooperation and collaboration to leverage respective strengths for the effective implementation of consultancy services and asset monetization activities.
Source: Exchange filing
Paisalo Digital Ltd.'s board approved raising up to Rs 1,260 crore via qualified institutional placement on Thursday.
The equity shares will have a face value of Re 1 each per share.
Source: Exchange filing
The Dollar Spot Index at $103.87
Rupee strengthened 5 paise at Rs 82.92
India 10-Year Bond Yield at 7.05%
U.S. 10-Year Bond Yield at 4.30%
Spot gold rose 0.6% to $2,028.81 an ounce
Bitcoin rose 0.41% to $51,597.75
The MSCI World index down 0.14%
Shares of MTAR Technologies Ltd. rose as much as 8.42% early in trade and were trading 5.95% higher at Rs 2,018 apiece as of 10:25 a.m. This was followed by gains in Avental Ltd., and Paras Defence and Space Technologies Ltd.
Further, Bharat Heavy Electricals Ltd. and Walchandnagar Industries rose over 1% as of 10:25 a.m.
Mas Financials at 8 times its 30-day average, up 4.5%
ABB India at 4.9 time its 30-day average, up 6%
Campus Activewear at 3.57 times its 30-day average, up 1.13%
Mtar Technologies 3.5 times its 30-day average, up 6.06%
Titagarh Rail invested an additional equity of Rs 100 crore in JV-SPV Shivaliks Mercantile Pvt.
Shivaliks acquires an additional 28.23% stake in Titagarh Firema, Italy, for €20.2 mn
Government of Italy makes additional investment of €10 million in Titagarh Firema
Titagarh Rail's share in Firema stands at 25.43%
Source: Press release
Scrip of SpiceJet Ltd rose as much as 7.65% to Rs 70.60 apiece, the highest level since Feb 19. It was trading 5.20% higher at Rs 68.99 apiece, as of 10:28 a.m. This compares to a 0.58% decline in theBSE Sensex Index.
It has declined 94.34% in 12 months. Total traded volume so far in the day stood at 1.6 times its 30-day average. The relative strength index was at 55.18.
Out of three analysts tracking the company, one maintain a 'buy' rating, three recommend a 'hold', according to Bloomberg data. The average 12-month consensus price target implies a downside of 30.2.%.
Benchmark indices open flat.
Broader market indices outperform benchmarks on open.
Nifty Bank trades flat.
Sectoral indices open mixed.
Nifty Finserv top lagging sectoral index.
Nifty Metal top gaining sectoral index.
The yield on the 10-year bond opened flat at 7.06%.
Source: Bloomberg
The local currency strengthened 2 paise to at open 82.95 against the U.S. Dollar.
It closed at 82.97 on Wednesday.
Source: Bloomberg
Hindustan Zinc's Two-Way Spinoff On The Cards, Says Chairperson — Exclusive
Activity momentum easing but remains above pre-Covid levels.
Q3 growth remained weak in agriculture, started to ease in industrial, remains resilient in services.
Near-term rural outlook to depend on rabi crop production, heatwaves in Feb-March remain a key watch.
Investment growth in H2 FY24 might be weaker than H1.
Real GDP growth to ease to 6.7% year-on-year in Q3 FY24, from 7.6% year-on-year in Q2.
Revenue at $22.1 billion vs Bloomberg estimate of $20.41 billion.
Adjusted gross margin at 76.7% vs Bloomberg estimate of 75.4%.
Data centre revenue at $18.4 billion vs Bloomberg estimate of $17.21 billion.
Gaming revenue at $2.9 billion vs Bloomberg estimate of $2.72 billion.
Q1 revenue guidance at $24 billion, plus or minus 2%.
Source: Bloomberg
Most officials noted the risks of cutting rates too quickly.
Some officials showed concerns over the risk of inflation progress stalling.
Officials judged policy rate was 'likely at its peak'.
Several officials noted potential risk from easier financial conditions.
Some Fed officials said slowing runoff could smoothen transition.
Officials urged starting 'in-depth discussions' of balance-sheet issues at the March meeting.
Banking risks were seen as much lower than earlier, but some firms had 'vulnerabilites' that warranted monitoring.
Source: Bloomberg
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