Market breadth was skewed in the favour of buyers. As many as 2,061 stocks rose, 1,861 declined, and 103 remained unchanged on the BSE.
The NSE Nifty 50 rose for a sevent consecutive session on Friday. The index moved in the range of 87 points on Friday.
The BSE Sensex rose for a fourth consecutive session. The index moved in the range of 348 points.
ICICI Bank Ltd., Bharti Airte Ltd., and Bajaj Autol Ltd. are top gainers in the Nifty 50 index.
Infosys Ltd., HDFC Bank Ltd., and Tata Consultancy Services Ltd. are top losers in the Nifty 50 index.
All Anil Ambani Group stocks declined with the Reliance Infrastructure falling the most after SEBI bars the industrialist for fund diversion allegation.
The NSE Nifty Auto index rose the most, while the NSE Nifty Realty declined the most.
The NSE Nifty Midcap 150 ended 0.56% lower at 21,645.65.
The NSE Nifty Smallcap 250 settled0.12% higher at 18,006.55.
The US Food and Drug Administration's inspection at FDC Ltd. Himachal Pradesh manufacturing plant closes with zero observations.
Source: Exchange filing
Tata Power Solar Systems in pact with ICICI Bank to provide easy financing.
Source: Exchange filing from Tata Power Co. Ltd.
In the real estate space, premium and high end growth much faster than lower end. This gives us a big opportunity to scale forward.
First phase of manufacturing already in place, expect completion by this month.
Phase 2 and Phase 3 will be launched in financial year 2024-25 and financial year 2025-26, respectively.
Have almost invested 150-160 crore as in Phase 1
Initially the import component may be high, expect this to go down after Phase 2 and 3 launch
Timber prices remain at levels as seen in Q1, dont expect it to soften in next 3-4 quarters
Source: Manoj Tulsian,Jt. managing director, and CEO, Greenply Industries to NDTV Profit
.png)
Sun Pharmaceutical Industries Ltd. introduced Starizo in India for skin infections treatment.
Source: Exchange filing
Jindal Saw Ltd.'s board approved splitting each share into 2 shares.
Source: Exchange filing
Bikaji Foods International Ltd. will acquire 55% stake in Ariba Foods.
Source: Exchange filing
.png)
JK Cement Ltd. is likely to set up 6 million ton new grinding units at Jaisalmer.
It will also set up 8 mt new clinker units at Jaisalmer.
It will invest Rs 4,900 crore in Jaisalmer project.
Sources to Informist
Bigbloc Construction Ltd.'s unit Starbigbloc Building Material approves allotment of 27 lakhs shares worth Rs 33.8 crore to proposed allottees.
Starbigbloc to cease to be wholly-owned subsidiary, continue as subsidiary post completion of private placement.
Source: Exchange filing
Sees FY25 cost of production at $1,050-1,100/ton
See FY25 refined metal output at 1,075-1,100 kilotonne per annum
Debari roaster commissioning targeted by Q4
Source: Investor Presentation
Inaugurates electronics manufacturing facility in Hyderabad
Source: Exchange Filing
SEBI Bars Anil Ambani From Capital Market For Five Years
.png)
Disclaimer: NDTV Profit is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
India will be very close to China in terms of weightage in emerging markets. The country is close to second place.
The bigger picture is that India's weight in emerging markets or MSCI is going to increase.
India is trading at 80% premium to the region. The country is getting premium but is not super expensive.
A lot of underlying move has been by underlying earnings, which is a good thing to have, which is why Goldman is positive on India.
India's valuations are richer but not overvalued.
India's valuation remains the greatest concern for clients
India outperformed in July–August. This outperformance implies how India is resilient in the Global market sell off.
India has been seeing foreign outflows
Source: Sunil Koul, Asia Pacific Portfolio Strategist, Goldman Sachs to NDTV Profit
Poly Medicure Ltd. expects 22–25% sales growth in financial year 2024-25.
The company's Ebitda margins for FY25 expected to be at 27–27.5%.
We believe next 2 quarters to be good for unbranded generics but post that Earnings will normalise.
Poly Medicure will do Rs 1,000 crore fund raise for setting up three new plants.
The company is looking at import substitute products.
Its domestic business is likely to grow at 20–22% in financial year 2024-25.
Source: Himanshu Baid, MD, Poly Medicure to NDTV Profit
Disclaimer: NDTV is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
At pre-open, the NSE Nifty 50 was 33.90 points or 0.14% higher at 24,845.40, and the Sensex was 0.14% higher at 81,165.53.
The yield on the 10-year bond opened flat at 6.85%.
Source: Cogencis
The local currency opened 2 paise higher at 83.93 against the US Dollar on Friday.
It closed at 83.95 a dollar on Thursday.
Source: Cogencis
Ambuja Cement Ltd.'s 4.2 crore shares change hands in multiple pre-market large trades.
Source: Bloomberg
JSW Energy Ltd. received a letter of award from NTPC Ltd. for setting up 300 megawatt hybrid power project.
Source: Exchange filing
Initiates coverage on
Star Health with Hold with a target price Rs 550, which implied a 10% downside.
Go Digit General Insurance Ltd. with Buy, and set the target price Rs 420, which implied a 24% upside.
Retains Buy on ICICI Lombard General Insurance Co., with a target price Rs 2,600, which implied a 25% upside.
Large private insurers set to gain from multi-year upcycle in motor (35%) led by premiumisation
Health can see pressure in retail segment from rising claims frequency
ICICI Lombard General Insurance Ltd. is the biggest beneficiary on motor
PB Fintech top pick
Pan India: Spot prices up by INR17/bag (5%) vs August start
Average QTD prices still down INR14/bag vs 1QFY25 average
Southern region: Prices hiked by INR25/bag amid market share tussle; absorption a concern
Central region: Dealers expect INR22/bag price hike in coming days
Northern region: Trade prices hiked by INR17/bag vs August-start
Eastern region: Trade prices increased by INR16/bag, up 5.5% and 3% vs Aug-start
Western region: Prices improve slightly by INR4/bag
Quarter to Date
Dalmia Bharat Ltd. is to acquire additional 7.31% stake in O2 Renewable for Rs 3.15 crore.
Source: Exchange filing
UBS Global Research retained a 'Buy' with a target price Rs 3,200 up from 3,000 earlier which implied a 18% upside.
New Jupiter is a significant upgrade from older models and peers at similar price
Launched back in 2013 and led to significant turnaround for TVS
Believe many of the features cannot be replicated by the competitors in near to medium term
New model can aid 15-20K additional volumes growth
Raise Domestic volume forecast at 14% vs 11% earlier
Model in 80 bps positive PLI impact on margins
Brand new EV and foray in E-3W over next few months further catalyst
Ecos India Mobility And Hospitality Ltd. set IPO price band at Rs 318-334 per share.
Source: Company statement
Ola's market share slipped from 49% in June quarter to 33%
While it still remains 1 player, TVS and Bajaj gained 4-7% market share
Current market share for TVS at 19% vs 15% in Q125, while Bajaj now has 18% share vs 12%
Electric bike launch positive, currently motorcycles form 63% of volumes
TVS I-Qube now available in 5 variants, looking to launch another scooter in next 6 months
Hero plans to launch affordable electric scooters in FY25
Expect E2W market share to rise to 13% by FY27 vs 5.4% now
Within autos, TVS Motors and M&M remain top picks
The Citi Research retained a 'Buy' raised the target price to Rs 300 from Rs 280, which implied a 16% upside.
Acquisition of Paytm ticketing business is moderately positive
Zomato is likely to benefit from the over 1 crore users of Paytm ticketing business
The company will focus on gaining segment market share
Zomato has strong track record
Citi Research retained a 'sell', and hiked target price to Rs 440, which implied a 23% downside. The early target price was Rs 410.
Sale of business to Zomato valued at Rs 30 per share in cash as positive
Shift to pure distribution business for payments and financial services is a positive
Watch for resolution of regulatory bottlenecks
Value Co at an unchanged 30x FY26E EV to Adj. EBITDA
Citi Research maintained a 'sell' with a target price Rs 2,700, which implied a 18% downside.
Improvement in mix to drive realisations
Deeper penetration, geographical expansion to drive volume growth
Competition remains high, irrationality has come down
Margins may remain stable
Renewed focus on international markets
Management Meet:
Pharma index is up 11% since May
Pharma index at 44% premium to Nifty, avg us 31% premium
Strong Q1FY25 performance
Strong commentary by Lupin and Zydus on the back of launches
Forecasts raised for Lupin, Natco Pharma, Zydus, Glenmark Pharma; Biocon earning cut
.png)
Rupee Weakens Against The Dollar On Importers Demand For Greenback
India's GDP Growth Momentum Remains Strong At 6.5–7%: Report
Emerald Investments Exits Eris Lifesciences Via Bulk Deal For Rs 1,187.4 Crore
Usha Martin: Promoter Rajeev Jhawar bought 30,000 shares on Aug. 20. Promoter Peterhouse Investments India Ltd. sold 2 lakh shares on Aug. 20.
PNB Housing Finance: Asia Opportunities V (Mauritius) Ltd. sold 78 lakh shares (3%) at Rs 866.7 apiece, while Government of Singapore bought 16.59 lakh shares (0.63%) at Rs 866.05 apiece.
Ethos: Mahen Distribution Ltd. sold 1.31 lakh shares (0.56%) at Rs 3,151.04 apiece
Shriram Properties: BNP Paribas Financial Markets bought 8.53 lakh shares (0.5%) at Rs 126.85 apiece
Alkem Laboratories Shareholder Trims Stake For Rs 487 Crore
Orient Technologies IPO Subscribed 16.96 Times On Day 2
Nykaa Promoters To Sell Up To 1.4% Stake In Block Deal, Bloomberg reports citing Terms
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
