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The market breadth was skewed in favour of the buyers. About 2092 stocks rose, 1742 declined, and 101 remained unchanged on the BSE.
-The local currency strengthened by 12 paise against the U.S dollar to 82.99, highest in three weeks.
-It closed at 83.12 on Tuesday.
Source: Bloomberg
- 11.7 lakh shares changed hands in a large trade
- 0.01% equity changed hands at Rs 103.1 apiece
- Buyers and sellers not known immediately
Source: Bloomberg
Tanla Platforms Ltd's shares rose as much as 10.29% to Rs 1,198 apiece, the highest level since Aug 10, 2023. It was trading 9.17% higher at Rs 1,186.05 apiece, as of 02:26 p.m. This compares to a 0.09% decline in the NSE Nifty 50 Index.
It has risen 63.31% in 12 months. Total traded volume so far in the day stood at tim3.6 times its 30-day average. The relative strength index was at 72.91.
Three analysts tracking the company, maintained a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 14.2%.
- Haryana Govt approves increase in cost of construction project assigned to co by Rs 134 crore
- Total cost of project to construct Phase-III of BPS Government Medical College now at Rs 419 crore
Source: Exchange Filing
Alert: Varenicline tablets are a generic of Chantix tablets
Source: Exchange Filing
- 31.2 lakh shares changed hands in a large trade
- 0.03% equity changed hands at Rs 69.2 apiece
- Buyers and sellers not known immediately
Source: Bloomberg
The scrip fell as much as 7.48% to Rs 163.35 apiece, the lowest level since Dec 20. It pared gains to trade 4.42%lower at Rs 168.75 apiece, as of 12:00 noon. This compares to a 0.05% decline in the NSE Nifty 50 Index.
It has risen 39.36% in the last twelve months. Total traded volume so far in the day stood at 3.6 times its 30-day average. The relative strength index was at 49.36.
Out of 20 analysts tracking the company, 17 maintain a 'buy' rating, one recommend a 'hold,' and two suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an downside of 11.7%.
Tv18 Broadcast at 7.77 times its 30 day average
Network18 at 6.33 times its 30 day average
Avanti Feeds at 6.27 times its 30 day average
GE T&D India at 4.89 times its 30 day average
NCC at 4.81 times its 30 day average
Sony says talks on Zee deal will continue until Jan 20
Source: Nikkei
Adani Group will invest over 2 lakh crores in Gujarat over next five years
"We are constructing the world’s largest green energy park. It will have a 30 GW of renewable energy capacity," he said.
100,000 direct and indirect jobs expected
- Arm Adani Defence and Aerospace launches first unmanned aerial vehicle 'Drishti 10'
- Drishti 10 to be inducted by Indian Navy
Source: Press Release
- 10.1 lakh shares changed hands in a large trade
- 0.1% equity changed hands at Rs 116.6 apiece
- Buyers and sellers not known immediately
Source: Bloomberg
- 26.5 lakh shares changed hands in a large trade
- 0.2% equity changed hands at Rs 62.35 apiece
- Buyers and sellers not known immediately
Source: Bloomberg
- 15.6 lakh shares changed hands in a large trade
- 0.02% equity changed hands at Rs 69.5 apiece
- Buyers and sellers not known immediately
Source: Bloomberg
The scrip rose as much as 10.55% to 244.10 apiece, the highest level since Dec. 13, 2007. It pared gains to trade 7.20% higher at Rs 236.70 apiece, as of 10:23 a.m. This compares to a 0.01% decline in the NSE Nifty 50 Index.
It has risen 164.32% in the last 12 months. Total traded volume so far in the day stood at 7.7 times its 30-day average. The relative strength index was at 77 indicating that it was overbought.
The one analyst tracking the company maintains a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 169.4%.
- Sales value at Rs 1,241 crore, up 56% YoY
- Customer collections at Rs 941 crore, up 52% YoY
Source: Exchange Filing
Sees SBIL outperforming HDFCL, LIC and IPRU on a total APE 5 year CAGR basis
APE growth driven by 11% growth in retail
LIC outperforms peers with APE growth of 23% in Dec'23
Remains positive on sector with 4 Buys (SBIL, HDFCL, IPRU and LIC)
The scrip rose as much as 8.04% to Rs 722.80 apiece, the highest level since its listing on Aug 10, 2017. It pared gains to trade 5.68% higher at Rs 707.00 apiece, as of 09:59 a.m. This compares to a 0.12% decline in the NSE Nifty 50 Index.
It has risen 187.13% in the last 12 months. Total traded volume so far in the day stood at 2.8 times its 30-day average. The relative strength index was at 64.1.
Out of five analysts tracking the company, two maintain a 'buy' rating, two recommend a 'hold,' and two suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 67.6%.
Scrips of Indus Towers rose as much as 4.27% to Rs 221 apiece. t was trading 1.77% higher at Rs 215.70 apiece, as of 10:37 a.m. This compares to a 0.01% advance in the NSE Nifty 50 Index.
It has risen 17.74% in 12 months. Total traded volume so far in the day stood at 3.2 times its 30-day average. The relative strength index was at 65.12
Out of 23 analysts tracking the company, ten maintain a 'buy' rating, seven recommend a 'hold,' and six suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies a downside of 10.4%.
- Unveils 6 concept models of EV at Vibrant Gujarat Global Summit
Source: Exchange Filing
The scrip fell as much as 5.01% to 143.10 apiece, the lowest level since Dec. 29. It pared losses to trade 2.66% lower at Rs 146.65 apiece, as of 9:44 a.m. This compares to a 0.03% decline in the NSE Nifty 50 Index.
It has fallen 29.68% in the last 12 months. Total traded volume so far in the day stood at 3 times its 30-day average. The relative strength index was at 60.52. above 70 overbought or below 30 is underbought
The one analyst tracking the company maintains a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an downside of 29.6%.
- 16.2 lakh shares or 0.02% equity changed hands in a pre-market large trade
- Buyers and sellers not known immediately
Source: Bloomberg
- 10.5 lakh shares or 0.01% equity changed hands in a large trade
- Buyers and sellers not known immediately
Source: Bloomberg
The broader markets also fell. BSE MidCap fell 0.47%, while the BSE SmallCap was 0.11% lower. Fourteen out of the 20 sectors compiled by the BSE declined, while six advanced.
The market breadth was skewed in the favour of buyers. As many as 1,584 stocks advanced, 1,421 declined and 92 remained unchanged on the BSE.
- 16.2 lakh shares or 0.03% equity changed hands in a pre-market large trade
- Buyers and sellers not known immediately
Source: Bloomberg
At pre-open, the S&P BSE Sensex Index was down 14.04 points, or 0.02%, at 71,372.17 while the NSE Nifty 50 was 15.55 points or 0.07% lower at 21,529.30.
The yield on the 10-year bond opened flat at 7.18% on Wednesday.
Source: Bloomberg
-The local currency weakened 3 paise to open at 83.15 against the U.S dollar on Wednesday.
-It closed at 83.12 on Tuesday.
Source: Bloomberg
Unit OVL Overseas IFSC will function as Global Treasury Centre
Source: Exchange Filing
Plans to offer AI-driven cross border remittance, set up development centre for innovation
Source: Exchange Filing
- Maintain buy rating with price target of Rs 730
- Set to acquire part of Mancozeb portfolio of global Ag major Corteva, per media reports
- To strengthen market positioning in key markets, especially LatAm
- Estimate the acquired portfolio to be <2% of UPL’s overall revenues
- Deal subject to customary approvals, expected to close in Q1FY25
- India companies a major exporter of Mancozeb with 60-65% global share
- Estimate >40% of Mancozeb demand in LatAm
- Acquisition to reduce competitive intensity in a tough market supporting profitability
- Mancozeb not approved for usage in EU
- Issues around EU non-approval of S-Metolachlor herbicide likely overdone
- Global sales of SMetolachlor could be c3% of revenue
- Majority of sales are in the Americas, thus minimising any impact
- ER&D names shrugged off headwinds, grew at brisk pace in 2023
- Revenue for ER&D companies grew faster than IT services in 2023
- Global R&D spend in 2024 set to decelerate, but opportunities abound
- Companies with favorable vertical exposure to maintain growth pace
- Higher-for-longer growth rates to command premium multiples
Stocks
- Raise target multiple for KPIT, Cyient (buy), LTTS (hold) by 15%
- Raise target multiple estimate for Persistent (hold) by c30%
- LTTS: Hold with price target of Rs 4,905 (earlier Rs 4,175)
- Persistent: Hold with price target of Rs 6,950 (earlier Rs 5,355)
- Cyient: Buy with price target of Rs 2,570 (earlier Rs 2,294)
- KPIT: Buy with price target of Rs 1,930 (earlier Rs 1,655)
Asia Stocks Open Mixed; Bitcoin Swings On X Posts: Markets Wrap
Adani Ports Raises Rs 500 Crore Via Bond Issue
Indian Pharma Market Reports 9% Growth In December
Railway Ministry Nominates Sanjay Kumar Jain As CMD Of IRCTC
Jyoti CNC Automation: The public issue was subscribed 2.52 times on day 1. The bids were led by, retail investors (8.28 times), portion reserved for employees (3.69 times), non-institutional investors (3.63 times), and institutional investors (0.02 times).
Lupin Launches Generic Drug In U.S. For Postoperative Inflammation
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