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.jpg?downsize=1080:540 "Stock Market Today: Nifty Snaps Three-Day Decline As Infosys, Bajaj Finance Lead")
At 3:39 p.m., futures contract of Dow Jones fell 0.2%, that of S&P 500 was flat while Nasdaq 100 futures contract rose 0.2%.
US: Core CPI
US: CPI
US: Crude Oil Inventories
US: 10-year Bond Auction
Nifty and Sensex see another muted session
Intraday, both Nifty and Sensex had risen 0.3% each
Nifty ends 0.13% or 31.75 points up at 24641.80
Sensex ends 0.02% or 16.09 points higher at 81526.14
Broader indices outperformed. Nifty Midcap 100 ended 0.3% up; Nifty Smallcap 250 closed 0.3% higher
Most sectoral indices rose with Nifty FMCG rising the most
Trent and Bajaj Finance were top Nifty gainers
JSW Steel and Adani Ports fell the most
Rupee closed flat at 84.84 against the US dollar.
It closed at 84.85 on Tuesday.
Source: Bloomberg
"We will continue to uphold stability in policy. While stability is important, we are aware that we are constantly evolving. So we have to be conscious of this fact... we have to be alert and agile."
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Varun Beverages Ltd. is the top choice for investors in a consumer segment facing near-term challenges as urban demand weakness outweighs rural recovery. Citi Research found that it was least impacted by the demand weakness in India, though there were concerns about a potential GST hike.
Mahindra had jumped on to the battery-as-a-service bandwagon but only for its electric commercial-vehicle business. Mahindra Last Mile Mobility is in tie-up with EV startup Vidyut to offer EV battery on rent. Customers of Mahindra’s electric CVs can now rent battery at Rs 2.50/km. This reduces the upfront cost of acquisition by up to 40% as compared to ICE CVs
Source: M&M statement
VIP Clothing Ltd., a trailblazer in the Indian innerwear industry, has partnered with Swiggy Instamart to offer instant 10-minute delivery of its iconic men’s innerwear brand, Frenchie.
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HUDCO has signed an MoU with Delhi Development Authority for capacity building programmes, an exchange filing said.
An exchange filing by the company said that it wishes to inform that it has received communication from an unknown source, who has shared certain documents with the company, with mala fide intent. "We wish to inform you that there has been no application, business or customer support downtime," it said. The core application or databases have not been compromised and are intact and a small quantum of local internal documents has been lost and that too has been restored and functional.
Infosys Compaz, a JV between company and Temasek has strengthens collaboration with Singapore-based StarHub to accelerate operations, an exchange filing said.
Share price of Nisus Finance Services Co. made a strong debut on the BSE SME on Wednesday. The stock listed at Rs 225 on the platform, with a premium of 25% over the issue price of Rs 180.
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At pre-open, Nifty 50 was at 24620.50, up 0.04% or 10.45 points and Sensex was at 81568.39, up 0.07% or 58.34 points.
Rupee opened flat at 84.85 against the US dollar.
It closed at 84.85 on Tuesday.
Source: Bloomberg
Citi expects weakness in urban demand to more than offset the rural recovery and investors remain selective and prefer companies with the least earnings downgrade risk. The brokerage sees faster growth at Varun beverages and said investors are cautious on categories with increased competitive intensity (paints, grocery retailing, jewellery). They have mixed view on HUL, GCPL and BRIT and remain cautious on ITC, DABUR and Nestle, and Titan while they are incrementally comfortable on Kalyan.
Axis Bank: Rs 1,425 target price implies 22.5% upside
Nippon AMC: Rs 800 target price implies 9% upside
Maruti Suzuki: Rs 15,250 target price implies 35.4% upside
SAMIL: Rs 210 target price implies 25.7% upside
Ahluwalia: Rs 1,315 target price implies 22.7% upside
KPIT: Rs 2,040 target price implies 33.15 upside
Zee Entertainment: Maintain Buy, target at Rs 200 implies 40.8% upside
Havells: Rs 2,031 target price implies 18.4% upside
Cyient DLM: Target at Rs 960 implies 44.8% upside
Metropolis: Rs 2,500 target price implies 14.3% upside
Global Health: Rs 1,440 target price implies 23.1% upside
BHEL: Maintain Buy, target at Rs 371 implies 49% upside
RailTel Corp. has got an order worth Rs 11.1 crore from Mahatma Phule Krisihi Vidyapeeth of Ahilyanagar district, an exchange filing said.
Goldman Sachs has lowered its target for Avenue Supermarts to Rs 3,425 from Rs 4,000 earlier while maintaining a 'sell'. It said Dmart is increasing price discounts to maintain competitive advantage and its TAM is not $500 billion but $ 86 billion. The brokerage said growth headroom for dmart is outside top 10 cities but model is to own stores.
NCLT has approves plan submitted by Reliance Industries arm Reliance Strategic Business Ventures Limited for resolution of Karkinos Healthcare, an exchange filing said.
In US, S&P 500 closed down 0.30% at 6,034.91, Dow Jones fell 0.35% to close at 44,247.83, and Nasdaq Composite was down 0.25% at 19,687.24. Market players await country's CPI due later today. Dow Jones poll expects the inflation gauge to rise 0.3% from October and 2.7% year-on-year.
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