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The NSE Nifty 50 and BSE Sensex ended flat after trading in a narrow range throughout the day.
The Nifty moved in a 154.15 points range, while Sensex moved in 347.6 points range in Monday's session.
Tata Consultancy Servcies Ltd., Reliance Industries Ltd., and Tata Steel Ltd. were top gainers in the Nifty 50 index.
ICICI Bank Ltd., Mahindra & Mahindra Ltd., and Axis Bank Ltd. were top dragger in the Nifty 50 index.
The NSE Nifty Metal index was the lead gainer as Tata Steel Ltd., and Hindalco Industries Ltd. rose.
The NSE Nifty Auto declined the most tracking losses in Mahindra & Mahindra Ltd., and Tata Motors Ltd.
The NSE Nifty Midcap 150 ended 0.25% higher at 21,351.40.
The NSE Nifty Smallcap 250 settled 1.53% higher at 17,637.25.
Market breadth was skewed in the favour of buyers. As many as 2,702 stocks advanced, 1,321 fell, and 136 remained unchanged on the BSE.
Commissions 52,500 ton per annum Hydrogen Peroxide plant at its chemical complex in Gujarat.
Source: Exchange filing
Indian steel and and mining companies face margin risk after Supreme Court ruling.
Mining companies' operating costs likely to rise significantly if additional mining taxes imposed.
CWD Ltd. received Rs 100 crore order from PhonePe for manufacturing soundboxes.
Source: Exchange filing
Bank of Baroda plans to raise up to Rs 5,000 crore through 10-year infra bond issue
Base size is Rs 2,000 crore and green shoe option if Rs 3,000 crore
Likely to tap market next week
Source: Merchant bankers to NDTV Profit
IndiGo domestic passenger market share rises to 62%
Air India domestic passenger market share falls to 14.3%
Vistara domestic passenger market share rises to 10%
SpiceJet domestic passenger market share falls to 3.1%
Akasa Air domestic passenger market share falls to 4.7%
Source: Bloomberg
E2E Networks Ltd. has approved raising up to Rs 420 crore via preferential issue.
Source: Exchange filing
Bombay Dyeing & Manufacturing Co.'s board approved appointment of Khiroda Jena as CFO effective today.
Source: Exchange filing
Coal India Ltd. had 41.6 lakh shares change hands in a block deal.
Tata Steel Ltd. had 17.5 lakh shares change hands in another block deal.
Samvardhana Motherson Internation Ltd. had 11 lakh shares traded in a bunch trade.
Source: Bloomberg
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Zen Technologies Ltd. has received a patent for mine detection system.
Source: Exchange filing
Strides Pharma Science received Establishment Inspection Report from the US Food and Drug Administration on GMP status for Alathur plant.
US FDA determines inspection classification of Alathur plant as Voluntary Action Indicated
Alert: GMP stands for Good Manufacturing Practices
Source: Exchange filing
Veranda Learning Solutions Ltd. forayed into Middle East via popular brand JK Shah Classes.
The company is in pact with Jumeira University Connect for CA preparation course for UAE students.
Source: Exchange filing
Recommend Buy in dips for Infra, Industrial and Manufacturing
Limited government expenditure, demand fluctuations, rising competition were drag
Near term market to remain range bound due to rising domestic headwinds and global market volatility
Prefer long term capex story via Industrials, Real estate and financials
Companies in Communications, Financials and real estate had upward revision in earnings
Upgrade Consumer to overweight
MSCI India consumer continue to underperform despite reasonable valuations
Downgrade Autos to neutral
Seeing moderation of demand for Passenger vehicles
Two wheeler has positive demand outlook
Overweight on Financials, despite subdued performance
Financials are trading at significant discount
Underweight on IT and Materials
Market breadth was skewed in favour of buyers. Around 2,403 stocks advanced, 710 stocks declined, and 133 stocks remained unchanged on BSE.
At pre-open, the NSE Nifty 50 was 0.39% or 95.20 points higher at 24,636.35, and the BSE Sensex was 0.30% or 241.45 points higher at 80,678.25.
The yield on the 10-year bond opened flat at 6.87%.
It closed at 6.86% on Friday.
Source: Bloomberg
Rupee strengthened by 6 paise to open at 83.89 against the US dollar.
It closed at 83.95 on Friday.
Source: Bloomberg
Nomura maintained a 'Buy' rating with a target price of Rs. 1,857, which implied a 20% upside.
Q1 beat led by projects
Margin tailwinds in place
Raises UCP revenue growth for Voltas to 30% year on year in FY25E
Voltas’ strategy to prioritize market share gain over margins is a step in the right direction
Catalysts which should support a margin recovery:
Price hikes, moderating commodity prices
logistics savings from the Chennai plant ramp-up
PLI incentives
Maintains EBIT margin at 9%/10.5% for UCP
Raises target P/E multiple to 50x (45x earlier)
Promoter group acquires 0.27% stake in Piramal Enterprises Ltd.
Promoter group's stake in company now stands at 46.30%.
Source: Exchange filing
It has a 'Buy' rating on Shree Cement, Ambuja Cement, The Ramco Cements
The brokerage gave 'Neutral' rating on Nuvoco Vistas Corp, 'Reduce' on Dalmia Bharat
Revenue collection from limestone significantly lower v/s coal, iron ore
FY24 total duties collected on limestone less than Rs 5000 cr
UltraTech Cement Ltd. is to pay Rs 4,400 crore in mineral taxes
UltraTech Cement Ltd. is to pay Rs 370 crore annually for 12 years starting FY27
Cash outflow to be similar for other players
Tax imposition to increase raw material cost, lower Ebitda margins
Believe companies can pass on increased costs
Expect coal, iron ore mining firms to be impacted more than limestone miners
Tata Steel, NMDC, Coal India to be impacted the most
JSPL should have lower dues due to recent iron ore mine acquisition
Note: Retrospective taxation on minerals impact cement players since they mine limestone
Citi sees little upside in nifty, Recommends buy on dips
NIFTY target at 25,000 vs earlier Jun’25 target of 24,400
Analyzed 1QFY25 for BSE100 (ex OMC)
Industrials and discretionary saw beats vs expectations on Ebitda and earnings
Materials, Healthcare and Utilities saw strong earnings growth
Staples, IT and Communication saw subdued growth.
Tariff hikes should aid 2Q onwards for Communications
Nifty earnings revision is now flattish vs. upwards revision earlier
Although still tracking ahead of the long-term trend
Note: OMC stands for Oil Marketing Companies
Interarch Building Products: The company will offer its shares for bidding on Monday. The price band is set from Rs 850 to Rs 900 per share. The Rs 600.29 crore IPO is a combination of a fresh issue of Rs 200 crore and the rest of the offer for sale.
Canara Bank: BNP Paribas Financial Markets bought 86.6 lakh shares (0.47%) at Rs 105.65 apiece, while Marshall Wace Investment Strategies: Eureka Fund sold 86.6 lakh shares (0.47%) at Rs 105.65 apiece.
Ashapura Minechem: Griffin Growth Fund VCC bought 34.67 lakh shares (3.79%) at Rs 340 apiece, while LTS Investment Fund sold 34.67 lakh shares (3.79%) at Rs 340 apiece.
Price band change from 10% to 5%: Akums Drugs and Pharmaceuticals.
Price band change from 20% to 10%: OLA Electric Mobility,
Ex/record dividend: Action Construction Equipment, Man Infraconstruction, Reliance Industries.
Ex/record AGM: Action Construction Equipment, Latent View Analytics.
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