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Rupee weakened by 4 paise to close at 83.96 against the US dollar.
It closed at 83.92 on Tuesday.
Source: Bloomberg
Nifty ends higher in the tenth consecutive session to record highest close
Nifty's best winning streak since 10 sessions ended Oct 14, 2020.
Sensex ends higher for seventh consecutive session
Nifty also recorded its fresh intraday high of 25,129.60
Nifty ends 0.14% or 34.6 points higher at 25052.35
Sensex ends 0.09% or 73.80 points higher at 81785.56
Broader indices underperformed; Nifty Midcap 100 ended 0.12% down and Nifty Smallcap 250 fell 0.22
Most sectoral indices ended lower; Nifty IT was the top gainer and Nifty Media fell the most
LTIMindtree and Wipro were top Nifty gainers
Adani Enterprises and Asian Paints were top losers among Nifty stocks
Source: Ashwini Vaishnav at cabinet briefing
Signs term sheet to lease to DEE the pipe automation equipment for the performance of automated pipework fabrication along with a non-exclusive license to utilize.
Source: Exchange Filing
Gets Rs 350 crore order from Bharat Aluminium for building housing complex in Chhattisgarh
Source: Exchange filing
CS Setty assumed charge as State Bank of India chairman.
Source: Exchange filing
Zapperfresh filed draft papers for IPO having fresh issue of 59.06 lakh shares.
Source: DRHP
Titan Co. Ltd.'s Tanishq partners with De Beers to promote natural diamonds across India
Tanishq is to educate Indian customers about natural diamonds at retail stores
Tanishq-De Beers collaboration is to increase emotional significance of natural diamonds among consumers amid growing demand for lab-grown diamonds.
Source: Press release shared by Tanishq
Life Insurance Corp of India submitted views to IRDAI regarding implementation of its insurance products regulations
Alert: The company clarified on media reports of it seeking changes to surrender value norms.
Source: Exchange filing
Acquires single largest stake in Virat Kohli-backed digital first brand 'Rage Coffee'
Source: Exchange Filing
UK-based step-down subsidiary Ohm International Mobility voluntarily liquidated
Source: Exchange Filing
Max Factor in pact with company to build brick & mortar presence in India
Max Factor to be at 70 outlets of company by year-end
Source: Exchange Filing
Gets order worth Rs 296 crore for manufacturing alkaline electrolysers with 200 MW capacity
Source: Exchange Filing
Rashtriya Ispat Nigam, Indian Oil in accord for supply of hydraulic & lubricating oils
Indian Oil to supply hydraulic & lubricating oils to RINL for 5 years
Source: PIB
Institutional buyers: nil.
Non-institutional investors: 1.59 times.
Retail investors: 1.39 times.
Total: 1.02 times
Only 150-160 of govt outlined 5000 CBG plants by FY24 have started production
Challenges include hinterland pipeline connectivity, raw material availability
Farming community acceptance of disposable of waste has been limited
Viability gap funding met with limited success
Current internal rate of return of CBG plants at only 7-9%
Special allocation in 2024 budget, mandatory blending expected to give some impetus to sector
Source: Prashant Vasisht, VP & Co-Head, Corporate Ratings, ICRA Gas Utilities Webinar
Outlook remains stable amid rising gas production
Natural gas supply expected to increase from domestic fields
Long term contracts to provide stable LNG supplies
Gas consumption to grow 6-8% in FY25 supported by benign prices, healthy offtake by city gas distributors
Expect FY25 capex outlay of Rs 20000 crore in next 3 years
Source: Prashant Vasisht, VP & Co-Head, Corporate Ratings, ICRA Gas Utilities Webinar
Pradeep Sharma resigns from the post of CFO effective October 30
Source: Exchange Filing
GQG increases stake in company to 5.17% vs 4.74% earlier
Source: Exchange Filing
Board approves investment in Swmabhan Commerce
To acquire 44% stake in Swmabhan Commerce via primary infusion & secondary buyouts
Source: Exchange Filing
MICL Estates LLP ceases to be subsidiary of company on account of disposal of entire partnership interest.
Source: Exchange filing
Hindustan Zinc, down over 3.8%
Asahi India Glass, down over 1%
Bajaj Steel Industries, up over 1.5%
Force Motors, down 1%
GE T&D India, up 1.2%
Sigachi Industries, up 1%
GMR Airports 14.14 lakh shares changed hands at Rs 95.04
Zee Entertainment 12.93 lakh shares changed hands at Rs 152.89
Reliance Power 36.87 lakh shares changed hands in ten large trades at Rs 30.55- Rs 32.01
Source: Cogencis
Turns zero net debt on standalone basis
Standalone net debt as of FY24: Rs Rs 762.22 crore
FY24 Standalone finance cost: Rs 76.39
Consolidated net debt as of FY24: Rs 777.47 crore
FY24 Consolidated finance cost: Rs 86.06
At pre-open, the Nifty was at 25030.80, up 0.05% or 13.05 points and the Sensex was at 81780.27, up 0.08% or 68.51 points.
The yield on the 10-year bond opened flat at 6.86%.
It closed at 6.86% on Tuesday.
Source: Bloomberg
Rupee weakened by 3 paise to open at 83.95 against the US dollar.
It closed at 83.92 on Tuesday.
Source: Bloomberg
Hikes target to Rs 1725, implying 21% upside and upgrades to buy
Triggers: Excise duty slab cuts in Karnataka, resumption of sales in Andhra, India UK FTA
Demand outlook for alcobev remains strong
Inflationary fears not panning out, outlook better than guidance
Category premiumisation trend playing out well with pricing power
Value the co at 60 times Sept 26E EPS
Citi Research
Maintains 'sell', target at Rs 137, downside 8.7%
Remains concerned on the potential impact of the cost saving measures
Management has been implementing strategic initiatives around reducing costs
Has guided to recovering to 18-20% EBITDA margin by FY26E
Elara Securities
Maintains 'buy', target at Rs 210, upside 40%
Expects better growth rates in the festive season
Further profitability too will continue to improve helped by cost cutting initiative
Improved efficiencies, lower losses, will drive valuation re-rating
Maintains BUY at Rs 9,500 target, implying 15% upside
Expects express logistics segment demand to pick up after slow FY24, Q1FY25
Infra and network expansion to drive growth in surface express
Improves utilization of new aircrafts to boost margins
Higher volumes on new aircrafts, routes and network expansion
Expect revenue/Ebitda/net profit to grow at 17%/32%/36% CAGR over FY24-26
Commences operations of captive solar power plant established at cost of Rs 41 crore
Source: Exchange Filing
Promoter Bharti Airtel's stake in company will increase to 50% post completion of buyback
Source: Exchange Filing
Transfer of events ticketing business to arm Wasteland Entertainment completed
Transfer of movies ticketing business to arm Orbgen Technologies completed
Subscription by Zomato in share capital of both subsidiaries of company completed
100% stake of company in subsidiaries transferred to Zomato
Source: Exchange Filing
Tata Technologies: TPG Rise Climate sold 1.21 crore shares (2.98%) at Rs 1,014 apiece, while Copthall Mauritius Investment bought 40.1 lakh shares (0.98%) and Ghisallo Master Fund bought 31.22 lakh shares (0.76%) at Rs 1,013 apiece.
Aavas Financiers: Amansa Holdings sold 17.5 lakh shares (2.21%) at Rs 1,690 apiece, while Nippon India Mutual Fund A/C - Nippon India Multi Cap Fund bought 10 lakh shares (1.26%) at Rs 1,690 apiece.
Rolex Rings: ICICI Prudential Mutual Fund sold 3.19 lakh shares (1.17%) at Rs 2,425 apiece, Ashokkumar Dayashankar Madeka sold 2.72 lakh shares (0.99%) at Rs 2,419 apiece and Sanjaykumar Bhagvanji Bole sold 1.74 lakh shares (0.64%) at Rs 2419 apiece. On the other hand, SBI Mutual Fund bought 2.8 lakh shares (1.02%) at Rs 2421.66 apiece, India Acorn Icav bought 2.03 lakh shares (0.74%) at Rs 2421.63 apiece and Kotak Mahindra Mutual Fund bought 1.7 lakh shares (0.62%) at Rs 2,425 apiece. Franklin Templeton Mutual Fund also bought 1.56 lakh shares (0.57%) at Rs 2421.08 apiece.
FedBank Financial Services: Anil Kothuri sold 20 lakh shares (0.54%) at Rs 121 apiece.
Price Band change from 20% to 10%: Goldiam International, NIIT.
Ex/record dividend: GE T&D, Hindustan Zinc, Force Motors, Sigachi Industries.
Ex/record AGM: Gandhar Oil Refinery, Force Motors, Sigachi Industries.
Moved in short term ASM Framework: Hinduja Global Solutions, NIIT.
Orient Technologies: The company's shares will debut on the stock exchanges on Wednesday at an issue price of Rs 206 apiece. The Rs 214.76-crore IPO was subscribed 151.71 times on its third and final day. Bids were led by institutional investors (189.9 times), retail investors (66.87 times), and non-institutional investors (300.6 times).
Premier Energies: The public issue was subscribed to 16.96 times on day one. The bids were led by retail investors (24.49 times), non-institutional investors (20.97 times), and qualified institutional investors (0.16 times).
ECOS (India) Mobility & Hospitality: The company will offer its shares for bidding on Wednesday. The price band is set from Rs 318 to Rs 334 per share. The Rs 601.2-crore IPO issue is entirely an offer for sale. The company raised 180.3 crore from anchor investors.
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