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The market breadth was skewed in favour of the sellers. About 2,262 stocks declined, 1,717 gained, and 129 remained unchanged on the BSE.
PNC Infratech Ltd got a Letter of Acceptance from Madhya Pradesh Govt for construction project worth Rs 699 crore.
Source: Exchange filing
Signs MoUs with Lekha Wireless, Niral Networks & InstaICT to create and manage private 5G ecosystems.
Source: Exchange filing
Wockhardt set to launch a Qualified Institutional Placement of Rs 400 crore
The QIP price is likely to based on 10-day average price
Alert: 10-day average price at Rs 561
Alert: Shareholders had approved a proposal to raise Rs 1,600 crore via QIP in Aug 2023
Source: People In The Know To NDTV Profit
Media reports alleging co's involvement in tax evasion are factually incorrect
Fully co-operated with the I-T dept during survey proceedings in Sept 2023
Certain queries received from I-T department have been addressed
Not aware of any information that could have an impact on company's equity shares
Source: Exchange filing
The scrip rose as much as 3.39% to Rs 291.5 apiece, its highest level. It pared gains to trade 2.5% higher at Rs 289.05 apiece, as of 2:12 a.m. This compares to a 0.23% decline in the NSE Nifty 50 Index.
It has risen 73.53% in the last twelve months. Total traded volume so far in the day stood at 0.97% times its 30-day average. The relative strength index was at 66.73.
Out of 21 analysts tracking the company, 11 maintain a 'buy' rating, three recommend a 'hold,' and seven suggest 'sell,' according to Bloomberg data.
Signs tripartite MoU with National Center for Seismology and Centre for Earth Sciences and Himalayan Studies
Source: Exchange Filing
The deployment will be across its 12 circles within a record time of over 500 days.
MIMO stands for Multiple-Input Multiple-Output
Source: Exchange Filing
Asian Paints: A Bull Vs Bear Case
Target price lowered from Rs 3,017 to Rs 2,425
Birla opus promising an incremental 40% addition to industry capacity
Industry to see significant increase in competition to retain dealers and consumers
Near term growth & margins not immune to competition pressure
Assumes APNT sees some slowdown in growth but no significant share loss to Birla Opus
May maintain long term market position
ROE to fall to 26.9% in FY26 from 32.7% in FY24
Yasho Industries at 9.33 times its 30 day average
Greenply Industries at 8.94 times its 30 day average
Indo Count Industries at 7.11 times its 30 day average
Adani Wilmar at 3.83 times its 30 day average
Suprajit Engineering at 3.47 times its 30 day average
Approves allotment of up to 88.9 lakh shares worth Rs 200 crore
Shares to be allotted at Rs 225 apiece on a private placement basis
Source: Exchange filing
In pact with Looks Salon to offer exclusive beauty and grooming services
Source: Exchange Filing
Varenicline is indicated for smoking cessation in adults.
Source: Exchange Filing
To supply 300 MW solar power capacity to J&K Power Corp from company's Bikaner plant.
Source: Exchange filing
Jan spends up 30% YoY, Feb spends down 2% on e-com sales normalisation
Expect to see market share shift towards smaller players
Believes top 5 players more cautious on new card sourcing
Maintains Neutral rating on SBI Cards
Key Gainers credit cards spends market share: ICICI Bank, SBI Cards, small players
Key Losers credit cards spends market share: HDFC Bank, Indusind Bank
Key Gainers cards outstanding market share: Kotak, Yes Bank, small players
Key Losers cards outstanding market share: SBI Cards, HDFC Bank
Gets order in the range of Rs 1,000-2,500 crore for its railway business
Order to construct phase 2A of Jakarta's Mass Rapid Transport Project
Contract secured through its Japanese partner, Sojitz Corp
Source: Exchange filing
Skipper's stock rose as much as 13.37% during the day to hit a record high of Rs 401 apiece on the NSE. It was trading 6.9% higher at Rs 378.1 apiece, compared to a 0.15% decline in the benchmark Nifty 50 as of 9:25 a.m.
It has risen 287.2% in the last 12 months. The total traded volume so far in the day stood at 11 times its 30-day average. The relative strength index was at 74.9.
Paytm's stock rose as much as 4.99% during the day to hit an upper circuit of Rs 428.1 apiece on the NSE. The shares were locked in the upper circuit when compared to a 0.32% decline in the benchmark Nifty 50 as of 09:55 a.m.
It has fallen 32.59% in the last 12 months. The total traded volume so far in the day stood at 2.1 times its 30-day average.
Six out of the 14 analysts tracking Paytm have a 'buy' rating on the stock, as many as three recommend a 'hold' and five suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 61.4%.
The broader markets outperformed as the BSE MidCap gaining 0.14%, while the BSE SmallCap was 0.40% higher. Thirteen out of the 20 sectors compiled by the BSE advanced, while seven declined.
The market breadth was skewed in the favour of buyers. As many as 1,874 stocks advanced, 1,210 declined and 130 remained unchanged on the BSE.
At pre-open, the NSE Nifty 50 was 43.50 points or 0.2% lower at 22,169.20, and the S&P BSE Sensex was 0.18% or 97.99 points lower at 73,044.81.
The yield on the 10-year bond opened 3 bps lower at 7.05%.
It closed at 7.08% on Friday.
Source: Bloomberg
The local currency strengthened by 6 paise to open at 82.89 against the U.S. Dollar.
It closed at 82.95 on Friday.
Source: Bloomberg
Gensol Engineering gets orders worth Rs 337.7 crore.
Source: Exchange filing
Move by RBI is a positive development, closely watch NPCI's response
Monitor updated commercials as PPBL's business moves to other banks
Potential impact to Paytm's businesses during Feb-24 amid the turmoil
Approval from NPCI to ensure quick migration of customers, limited disruption
Picks SBI and Union Bank as top picks
Maintain 'Buy' rating on SBI, Bank of Baroda, Indian Bank, Union Bank, Canara Bank
Neutral on Punjab National Bank
Stock valuations reasonable given business growth and profitability
Estimate 21% aggregate earnings CAGR of PSB coverage over FY24-26
Expect NIMs to be range-bound with slight downward bias
Expect 1.2% sector RoA by FY26 on opex ratio improvement, scope for credit cost reduction
NNPA ratio to be similar to private banks by FY24 end
Macquarie Maintains Asian Paints As Preferred Pick in India Paints & Adhesives
Maintains 'Overperform' on Asian Paints at Rs 4,000 target
Expects Asian Paints to be less affected by a new entrant like Grasim
Sharp demand moderation remains downside risk to near-term sales growth
Rise in discounting intensity near term given Grasim's entry to have negative impact to EPS estimates
Zurich Insurance to buy 70% stake in Kotak GI
Kotak GI is a small premium market share with a 120 crore loss in FY23
Valuation of the business is unchanged at 7900 crore
SOTP valuation of 5400 crore, implies 1% upside due to small size
Recent performance related concerns are transient
Domestic inflows to start ramping up after elections
Addressable market in Saudi Arabia continuously growing
Expect 13.6%/13.7% CAGR in inflows/revenue over next decade
Expect 18%/23%/26% CAGR in revenue/EBITDA/PAT over FY23-26 for core EPC division
Expect infrastructure and hydrocarbon segments to remain key growth drivers
Gets assessment order Rs 261.9 crore from Income Tax Dept for 2021-22
Source: Exchange filing
Price Target of Rs 970
Believe share price to rise relative to country index over next 60 days (70-80% likelihood)
Short term valuation much more compelling on stock trading off recently
Underperformed benchmarks YTD (-10% vs Sensex: +1% and Banex: -2%)
Loan growth set to pick up; Asset quality to continue to benefit from recoveries
NIM to benefit from recent credit rating upgrade and capital raise
Confident about ability to become no.2 player; plan to be pan-India by FY25 end
First company to launch paints at this scale
Developed differentiated products vs. competition and have a clear dealer pull plan in place
Expect aggressive pricing and promotion, likely to become Ebitda profitable in FY28
Capacity will be higher than the combined capacity of the second, third and fourth players
Plan to add 500 MLPA in capacity in next phase, lower incremental capex cost
Asia Stocks Swing As Traders Seek China Stimulus: Markets Wrap
Nifty February futures down by 0.10% to 22,228.85 at a premium of 16.15 points.
Nifty February futures open interest down by 8%.
Nifty Bank February futures down by 0.38% to 46,842.65 at a premium of 30.9 points.
Nifty Bank February futures open interest down by 3.8%.
Nifty Options Feb 22 Expiry: Maximum Call open interest at 23,000 and Maximum Put open interest at 21,000.
Bank Nifty Options Feb. 29 Expiry: Maximum Call Open Interest at 47,000 and Maximum Put open interest at 45,000.
Securities in ban period: Aditya Birla Fashion, Ashok Leyland, Balrampur Chini Mills, Biocon, Canara Bank, GMR Infra, GNFC, Hindustan Copper, Piramal enterprise, PVR Inox, RBL Bank, SAIL, Zee Entertainment Enterprise.
Pernod Ricard India Eyes Double-Digit Growth Rebound Next Fiscal
Zee Forms Independent Advisory Committee To 'Guide' It Amid Turbulence
Juniper Hotels IPO Subscribed 2.08 Times On Final Day
Zurich Insurance To Buy 70% Stake In Kotak Mahindra General Insurance
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