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Market breadth was skewed in the favour of buyers. As many as 2,483 stocks rose, 1,473 fell, and 111 remained unchanged on the BSE.
The NSE Nifty 50 and BSE Sensex recouped weekly losses in the week ended on Sept 13.
The NSE Nifty 50 and Sensex ended lower tracking losses in ITC Ltd., and Reliance Industries Ltd.
The Nifty 50 moved in 138.05-point range, and the Sensex moved in 439.71 points.
The NSE Nifty IT rose 0.97% to a life-time high of 43,571.65. Wipro Ltd., Infosys Ltd. were top leader in the index.
The NSE Nifty Pharma rose 0.28% to a fresh high of 23,495.65. Sanofi Consumer Healthcare India Ltd., and Mankind Pharma Ltd. were top leader in the index.
The NSE Nifty FMCG rose 0.16% to a fresh high of 65,616.25. Varun Beverages Ltd., and Nestle India Ltd. contributed the most.
The NSE Nifty 150 Midcap index rose 0.88% to a fresh high of 22,241.45. IDBI Bank Ltd., Linde India Ltd. were the top gainers in the index. It ended 0.65% higher at 22,190.35.
The NSE Smallcap 250 index ended 0.88% higher at 18,543.15.
Thermax Ltd. has signed a pact with Thermax Babcock and Wilcox Energy Solutions Ltd. for Rs 250 crore loan. The company will avail the loan in one or more tranches from its wholly-owned subsidiary, it said in an exchange filing Friday.
Mahindra & Mahindra Financial Services Ltd. has approved to expand into mortgage business, the company said in the exchange filing. As part of the expansion plan, Mahindra & Mahindra Financial Services will provide housing finance, top-up loans, lease, rental discounting, construction finance, and more.
InterGlobe Aviation Ltd. has diverted its flight from Mumbai to Phuket to Penang, Malaysia after taking into account the weather conditions, it said in a press release Friday. The move the airline took to ensure safety of its passengers.
IndiGo informed passengers about unexpected detour, and provided With refreshments. The flight's journey will resume once weather conditions permit safe operations, the airline said.
Axis Asset Management Co. sees early signs of pick-up in consumption, said Ashish Gupta, chief investment officer said to NDTV Profit. Some interesting consumption trends are appearing which could be long lasting. Investors have to be careful about changing consumption patterns in FMCG.
Uptrend in the premiumisation segment of consumption is here to stay. No dispute that valuations optically look expensive against historic averages. Broader markets see even higher valuation multiples, which were supported by earnings growth over the past few years
Max Healthcare Institute Ltd. partnered with Lakshdeep Group For Revival & Turnaround Of Jaypee Healthcare.
The company is in an agreement to acquire 64% Equity Stake Of Jaypee Healthcare.
Source: Exchange filing
The premium watch retailer is eyeing 45% revenue growth in India, led by the festive season.
With the launch of 41 SKUs, U-Boat will be available in stores across the top 10 cities.
These cities include Mumbai, Delhi, Bengaluru, Hyderabad and Kolkata.
Helios currently has 240 stores. It plans to open 50 more outlets this fiscal.
The entry price of U-Boat is Rs 1.22 lakh
Source: Press conference
Market breadth was skewed in the favour of buyers. Around 2,563 stocks rose, 1,183 stocks declined, and 154 remained unchanged on the BSE.
Zen3 Infosolutions is a wholly-owned subsidiary of TMA.
Both the companies are wholly- owned subsidiaries and hence there will be no cash consideration or issue of new shares involved under the plan of merger.
Source: Exchange Filing
The order comprises power transformers and is expected to be delivered by the next financial year.
RRVPNL stands for Rajasthan Rajya Vidyut Prasaran Nigam Ltd.
Source: Exchange filing
The vessel will be delivered to the new buyer, an unaffliated third party, by the third quarter of fiscal 2025.
Source: Exchange Filing
Western Carriers IPO: All You Need To Know
Tata Electronics is making huge investments and Tata Consultancy Services Ltd. will have huge opportunity to work with them.
TCS will be working with lot of fab companies including Tata Electronics.
TCS will play great amount if work in design for semiconductors as well.
Semiconductor is not new to TCS. In front end TCS is looking of research and development of the manufacturing of the chips.
TCS is building smart meters for utility industry. TCS is working with automotive companies for autonomous driving applications as well.
Source: Regu Ayyaswamy, vice president, global head, internet of things and digital engineering, Tata Consultancy Services Ltd. to NDTV Profit.
The liquidity stuck, which was stuck in Bajaj Housing Finance Ltd.'s initial public offer could have been released in second half Thursday or today.
Emkay Investment Managers is seeing more interest in large caps. Power of liquidity and movement seen.
Now is not a right time to take a market call, better to take more stock specific action. Currently, markets are trading at trading 22x FY26 estimates.
Sectoral allocations can be taken in banks, insurance, IT companies and Pharma space, according to Emkay Investment Managers. Housing and building material companies could be interesting as well.
Over the last few years FII have been net sellers. Power of markets has been led by retail investors.
There is interest in India. Plenty of liquidity is waiting to come to India. First allocation for flows in India would be in large caps.
Source: Manish Sonthalia, director and chief investment officer, Emkay Investment Managers Ltd. to NDTV Profit
Market breadth was skewed in favour of buyers. Around 2,155 stocks advanced, 796 declined, and 108 stocks remained unchanged on BSE.
At pre-open, the NSE Nifty 50 was trading 0.16% or 41.55 points higher at 25,430.45, and the BSE Sensex was trading 0.16% or 128.84 points higher at 83,091.55.
The yield on the 10-year bond opened flat at 6.81%.
It closed at 6.80% on Thursday.
Source: Bloomberg
Rupee strengthened by 5 paise to open 83.92 against the US dollar.
It closed at 83.97 on Thursday.
Source: Bloomberg
Maintains buy with a target price of Rs. 335, which implied a 23% upside
Gross order value (GOV) likely to ramp up at a CAGR of 20%
Restaurant take rates largely optimized at 22% of GOV
Margins should still improve steadily to 4-5% of GOV
Dark stores could eventually expand to service 4000 orders per day vs 1560 currently
Dark store achieves breakeven at 1,200 orders per day
Competition in the short term mat put pressure on growth and margins
Jefferies upgrade to 'Buy' with a target price Rs 1,600, which implied a 29% upside.
Jio’s growth target may require multiple tariff hikes
Its recent lead indicates step in this direction
Its rising focus on monetisation gives indication of another hike in mid 2025
Vodafone Idea’s revenue market share has fallen further
By the time Vodafone Idea completes network investments, it may see further decline in market share
It would therefore require more tariff hikes to bridge the gap between cashflows and dues payable
Build two tariff hikes in forecast: 2QFY26 and 2QFY27
Over FY24-27 expect Bharti Hexacom to deliver 19/25% CAGR in revenues/ EBitda
Its faster growth to Airtel, keeps valuations at premium to Airtel’s India operations
Value Bharti Hexacom at 14.5x Ev/Ebitdaa
Motilal Oswal Financial Services reiterated 'Buy' with a target price of Rs 680, which implied 20% upside potential.
The brokerage expects 36% earnings CAGR over FY24-26
The US Food and Drug Administration issued Form 483 with 6 observations at Gagillapur site:
Cleaning/maintenance issues.
Inadequate root-cause analysis.
Document management problems.
In-process controls lacking.
Air purification units concerns.
Awaiting USFDA classification to assess long-term compliance.
No major product approvals pending from this site.
Gagillapur inspected 6 times
Previous inspections resulted in VAI or NAI classifications.
Management working to resolve USFDA issues within the timeframe.
Focus on niche pipeline (oncology, innovative products)
Granules India's 36% earnings CAGR expected over FY24-26.
Gagillapur inspection a near-term hurdle for US growth.
Jefferies maintains Buy with a target price at Rs 1970, which implied a 20.5% upside.
Jio’s growth target may require multiple tariff hikes
Its recent lead indicates step in this direction
Its rising focus on monetisation gives indication of another hike in mid 2025
Vodafone Idea’s revenue market share has fallen further
By the time Vodafone Idea completes network investments, it may see further decline in market share
It would therefore require more tariff hikes to bridge the gap between cashflows and dues payable
Build two tariff hikes in forecast: 2QFY26 and 2QFY27
Over FY24-27 expect Bharti to deliver 17/19% CAGR in India revenues/ Ebitda
Jefferies expects deleveraging by $9.5 billion over FY25-27
Nazara Technologies Ltd. is likely to invest Rs 982 crore in Moonshine Technology, online poker gaming platform ‘PokerBaazi’.
The company is to acquire 47.7% stake in Moonshine Technology for Rs 832 crore through secondary transaction.
Nazara Technologies is likely to inject Rs 150 crore in primary capital into Moonshine via compulsory convertible preference shares.
Source: Exchange filing
The Indian rupee closed flat against the US dollar on Thursday as the market participants awaited US Producer Price Index data. The Indian unit touched a fresh low of 83.9912 against the US dollar during the session.
The rupee closed little changed at Rs 83.96 after opening at Rs 83.97 against the US dollar, according to Bloomberg data. The domestic currency had closed at Rs 83.98 on Wednesday.
Nifty September futures up by 1.61% to 25,339, at a discount of 50 points.
Nifty September futures open interest up by 11.37%.
Nifty Bank September futures up by 1.16% to 51,715.85 at a discount of 56.55 points.
Nifty Bank September futures open interest down by 10.4%.
Nifty Options Sept. 19 Expiry: Maximum call open interest at 26,000 and maximum put open interest at 24,500.
Bank Nifty Options Sept. 18 Expiry: Maximum call open interest at 54,000 and maximum put open interest at 49,000.
Securities in ban period: Aarti Industries, Aditya Birla Fashion Retail, Balramur Chini Mills, Bandhan Bank, Chambal Fertilisers, Granules, Hindustan Copper and RBL Bank.
August CPI Data: India's Retail Inflation Remains Near Five-Year Low Despite Marginal Rise Of 3.65%
Paisalo Digital: Promoter Equilibrated Venture Cflow bought 13.32 lakh shares on Sept. 12.
Pidilite Industries: Promoter Neerav Parekh sold 47,747 shares on Sept. 11.
Salasar Techno Engineering: Promoter Shikar Gupta sold 2 lakh shares on Sept. 12, while Promoter Tripti Gupta sold 1 crore shares. Promoter Tripti Gupta sold 10 lakh shares on Sept. 10.
Wardwizard Innovations & Mobility: Promoter Yatin Sanjay Gupte created a pledge for 9.25 lakh shares on Sept. 12.
H.G. Infra Engineering Receives Order Worth Rs 716 Crore From Central Railway
P N Gadgil Jewellers: The public issue was subscribed to 59.41 times on day 3. The bids were led by qualified institutional investors (136.85 times), non-institutional investors (56.09 times) and retail investors (16.58 times).
Western Carriers (India): The company will offer its shares for bidding on Friday. The price band is set from Rs 163 to Rs 172 per share. The Rs 492.88-crore IPO issue is a combination of a fresh issue for Rs 400 crore and an offer for sale. The company raised Rs 147.8 crore from anchor investors.
PNB Housing: Asia Opportunities V (Mauritius) Ltd. sold 16.22 lakh shares (0.62%) at Rs 1,097.3 apiece, Goldman Sachs (Singapore) Pte.- Odi bought 0.92 lakh shares (0.04%) at Rs 1,097.3 apiece; the Government of Singapore bought 13.16 lakh shares (0.5%) at Rs 1,097.3 apiece; and the Monetary Authority of Singapore bought 2.13 lakh shares (0.08%) at Rs 1,097.3 apiece.
Mamaearth Parent Honasa Consumer Investors Sell Off Rs 1,863.88 Crore In Bulk Deal
BPCL Approves Rs 1,138 Crore For Pipeline Expansion Projects
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