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The NSE Nifty 50 ended 0.03% higher at 25,017.75, and the BSE Sensex ended 0.02% higher at 81,919.11.
The Nifty index moved in the range of 99.45 points, and the Sensex moved in 318.6-point range.
Bharti Airtel Ltd. rose to nearly one-month high after entering into a partnership with Apple Inc to provides latter's digital television and music services to Indian customers.
Zee Entertainment Enterprises Ltd. jumpe 14.57% to over one-month high after it resolved all the merger related disputes with Sony Pictures Networks India.
The NSE Nifty Pharma rose 0.90% and scaled a fresh high of 22,758.50 as Sun Pharmaceutical Industries Ltd., and Lupin Ltd. rose.
The NSE Nifty IT rose 0.66% and hit a fresh high of 41,936.70 on gains in Infosys Ltd., and Coforge Ltd. rose.
The NSE Nifty FMCG index rose 0.23% to 63,805.95, marking the highest level since inception as United Breweries Ltd., and Godrej Consumer Products Ltd. gained.
The NSE Nifty Smallcap 250 index rose 0.70% to a fresh high of 18,207.25 as Tata Investment Corp Ltd., and Kfin Technologies Ltd. rose.
Market breadth was skewed in favour of buyers. Around 2,154 stocks advanced, 1,803 stocks declined, and 94 stocks remained unchanged on BSE.
Paras Defence Space & Technologies Ltd. approved raising up to Rs 200 crore via QIP
Source: Exchange filing
Citibank N.A. settles with SEBI for over Rs. 40 lakhs
The regulator has started an investigation for non compliance of several rules.
This includes foreign investment rules, guidelines for depositories and participants and more.
Source: SEBI order
Files draft papers for IPO having fresh issue worth Rs 192 crore and offer for sale of up to 51.9 crore shares.
Source: DRHP
Shilpa Medicare Ltd. received the US Food and Drug Administration's approval for Bortezomib injection.
Alert: Bortezomib injection is indicated to treat blood plasma cell cancer in patients
Source: Exchange filing
As of 1:43 p.m., it was subscribed 1.07 times.
Non Institutional Investor share subscribed 2.26 times
Market breadth was skewed in the favour of buyers. Around 2,283 stocks rose, 1,458 stocks declined, and 143 stocks remained unchanged on BSE.
Overall subscription as of 12:27 pm at 75%
Non Institutional Investors' subscription as of 12:27 pm at 1.47 times
Retail subscription as of 12:27 pm at 84%
Source: BSE
Bharti Airtel Hits Nearly One-Month High After Apple Tie-Up
Zen Technologies Ltd. expects exports will be 40-45% of the revenue going forward.
Ebitda margin is to stay at 35% and PAT at 25%.
Source: Ashok Atluri, chairman and managing director, Zen Technologies Ltd. to NDTV Profit
JSW Infra Soars After Jefferies Initiates 'Buy' With 21% Upside
Jefferies initiates Buy on JSW Infrastructure Ltd. with a target price Rs 375, which implied 21.3% upside.
Jefferies expects JSW Infrastructure growth will be more than 20% from current levels.
Believes all-India port cargo to rise 6% CAGR in the period between financial year 2023-24-2029-30.
Jefferies growth is slightly higher than the 5% CAGR of the last 10 years.
The brokerage remained positive on Adani Ports and Special Economic Zone Ltd., dominant market leader with 27% share.
Pipavav will find hard to maintain share given Adani Group's stronghold at Mundra Port.
Private Sector Ports seeing double-digit volume and Ebitda CAGR should continue.
First Maruti Suzuki EV To Enter Production Stage Within Months, Says Chairman Bhargava
Disclaimer: NDTV is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
Customers are giving money to invest. Capitalmind serves customers who can give us Rs 50 lakh or more.
The company intended to start the mutual fund since a long time. The mutual fund is more regulated which is better than a portfolio management service.
Capitalmind is now able to serve a much larger section of the society than a PMS.
In the near term, don’t see any negative factors. Next five years, India is going to see a dramatic increase. India is a great story in terms of long term.
From 2019 to now, the earnings in small cap index was up 3.5 times.
Capitalmind doesn’t see any valuations problem in midcaps. In Small caps, some pockets are overvalued
Source: Deepak Shenoy, founder & CEO, Capitalmind to NDTV Profit
Bondada Engineering Shares Locked In Upper Circuit After Rs 575 Crore Order Win
Medi Assist Shares Jump After Paramount TPA Acquisition
GPT Infraprojects Hits One-Month High After Company Launches QIP
Market breadth was skewed in favour of buyers. Around 1,873 stocks advanced, 1,099 stocks declined, and 129 stocks remained unchanged on BSE.
At pre-open, the NSE Nifty 50 was 14.20 points or 0.06% higher at 25,024.80, and the BSE Sensex was 0.14% or 116.95 points higher at 81,815.06.
The yield on the 10-year bond opened flat at 6.9%.
It closed at 6.9% on Monday.
Source: Bloomberg
Initiates with neutral rating at Rs 570
Expect growth to bounce back to early teens from FY26
Expect to enjoy low-teens secular growth due to
Low tech penetration in life sciences industry
strong track record
Differentiated service offerings
Trades at premium to most TechOps firms
Finds fairly priced with full valuations & current visibility on new drug launches for clients
Rupee weakened by 2 paise to open at 83.92 against the US dollar.
It closed at 83.90 on Monday.
Source: Bloomberg
Global Health Ltd. is not planning to acquire any stakes in Paramount TPA
Alert: Clarifies on report of Medanta unit to acquire Paramount
Source: Exchange filing
Hindustan Unilever Ltd. received demand worth Rs 963 crore including interest from Income Tax Department, Mumbai.
Source: Exchange filing
Adani Power Ltd. ncorporates wholly-owned subsidiary Adani Power Middle East in Abu Dhabi
Incorporates subsidiary to invest in power, infrastructure and related fields
Source: Exchange filing
Is a play on the huge opportunity in Indian weddings space, textiles, exports, and styling
Targets CAGR of 12-15%/16-17% in revenue/EBITDA, over FY24-28
Topline growth is likely to be led by CAGR of 18-20% in its apparel/garmenting businesses, 7-8% in high ROCE textiles business
Would stand among the global top-3
Net-debt free player, expected to be listed by mid Sep-24
Retail expansion are expected to drive 18-20% CAGR
Retail expansion is expected to be asset-light and franchisee-driven
Sets price band at Rs 503-529 per share
Subscription for the issue to open on September 2 and close on September 4
Anchor investor bidding to take place on Aug 30
Source: Company Statement
Rates Buy on Indigo with TP of Rs. 5,300 (+12%)
Order book stands at 975, enabling the airline to receive more than one aircraft per week, offsetting the impact of 70-plus AOG
IndiGo’s tailor-made product is likely to revolutionise the business-class flying experience in India; it may lead to a new growth avenue
Duopolistic nature of the industry ensures pricing discipline and drives up yields
Housing demand in July 2024 in India’s top seven cities rose 11% MoM
The year to date absorption surged most in Kolkata and MMR region
Trend of softness in launches reversed in Jul-24
Launches increased 15% MoM, rising most in the NCR and Chennai
Prices rose in most cities year on year , surging 36% on the year in Bengaluru
Unsold inventory dipped 2% year on year in India in July 2024
Outlook Going Forward
Absorption continue to be healthy aided by high levels of affordability
Launches shall remain contained due to liquidity constraints
Believes good opportunity to enter realty stocks with favourable valuations
Prestige Estates, Brigade and Sobha remain as top picks
Rupee Ends Flat Against US Dollar
Usha Martin: Promoter Umil Share and Stock Broking Services bought 50,000 shares on Aug. 20 and promoter Stuti Raghav Agarwalla bought 50,000 shares on Aug. 20.
Ethos: Promoter Mahen Distribution sold 2.88 lakh shares between Aug. 21 and 22, and Promoter Saboo Ventures LLP sold 2.52 lakh shares between Aug. 22 and 23.
Deccan Gold Mines: Promoter Rama Mines Mauritius sold 94,607 shares on Aug. 22.
Sapphire Foods India: Promoter Sagista Realty Advisors (as trustee of QSR Management Trust) sold 61,590 shares between Aug. 22 and 23.
Choice International: Promoter Shree Shakambhari Exims created a pledge for 8 lakh shares on Aug. 22.
Lloyds Metals and Energy: Promoter Thriveni Earthmovers created a pledge for 95 lakh shares on Aug. 23.
Medi Assist Healthcare To Acquire Paramount TPA In Rs 400 Crore Deal
Premier Energies: The company will offer its shares for bidding on Tuesday. The price band is set from Rs 427 to Rs 450 per share. The Rs 2,830-crore IPO is a combination of a fresh issue of Rs 1,291.4 crore and an offer for sale.
AU Small Finance Bank: Fincare Business Services sold 1.27 crore shares (1.7%) at Rs 630 apiece. DSP Mutual Fund bought 1.03 crore shares (1.38%) at Rs 630 apiece. Morgan Stanley Asia Singapore Pte bought 10.6 lakh shares (0.14%) at Rs 630 apiece, among others.
Seamec: Legends Global Opportunities (Singapore) bought 1.9 lakh shares (0.74%) at Rs 1,525 apiece, and Nomura Singapore sold 1.9 lakh shares (0.74%) at Rs 1,525 apiece.
Lavender Rose Investment Exits Medplus Health, Sells 11% Stake For Rs 836 Crore
UltraTech Cement Secures $500 Million In Second Sustainability-Linked Loan
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