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Benchmark outperformed broader markets
Nifty ended higher and posted gains for seven sessions out of eight
Nifty gains were lead by Infosys, Tata Consultancy Services, and HCLTech Ltd.
Nifty IT is the top sectoral gainer
Nifty Media is the top loser
Nifty Metal snapped a two-day losing streak
Benchmark outperformed broader markets
Nifty ended higher and posted gains for seven sessions out of eight
Nifty gains were lead by Infosys, Tata Consultancy Services, and HCLTech Ltd.
Nifty IT is the top sectoral gainer
Nifty Media is the top loser
Nifty Metal snapped a two-day losing streak
Rupee closed 5 paise weaker at 87.58 against US dollar
It closed at 87.53 a dollar on Friday
Source: Bloomberg
Rajiv Anand has taken charge as IndusInd Bank Ltd.'s managing director and chief executive officer.
Central Bank of India is in pact with KredX Platform for TReDS Services for MSMes. TReDS stands for Trade Receivables Discounting System.
The festive season is here, and retailers irrespective of platform and size are pulling out all the stops to lure buyers and boost sales. The anticipation of an early rollout of GST rates — now coinciding with the Navratri festival in September rather than October — is further prompting brands to frontload stocks and tailor their offers and schemes as they gear up to capitalise on increased consumer spending during this peak sales period.
Mahindra & Mahindra Ltd.'s Mahindra Susten appointed Avinash Rao as managing director and chief executive officer with effect from Sept 24.
The shares of RVNL were trading over 2% higher after the Navaratna PSU bagged a major order. The company has received a Letter of Acceptance worth Rs 90.6 crore from the Southern Railway for the provision of a Video Surveillance System.
Apollo Micro Systems Ltd. shares have doubled this year as India's push to modernise and indeginise its defence systems has spurred order wins and provided a robust growth outlook. The stock hit an all-time high on Monday.
The Hyderabad-based company anticipates revenue to grow at a CAGR of 45–50% over the next two years, excluding the incremental contribution from the recently-acquired IDL Explosives, according to an annual report released last week.
Fitch Ratings has affirmed India's India's long-term foreign-currency issuer default rating 'BBB-' with a stable outlook. The rating agency mentioned that robust growth and solid external finances supported the rating stability.
The NSE Nifty 50 and BSE Sensex were trading near day's high.
The NSE Nifty 50 and BSE Sensex were trading near day's high.
TTK Prestige Ltd.'s normal manufacturing operations resumed at Roorke plant after floods. No major damage to assets at the plant, the company said in the exchange filing.
Unicommerce Solutions to streamline WoodenStreet's e-commerce operations, the company said in the exchange filing.
Shares of Ola Electric jumped nearly 5% on Monday, continuing a rollercoaster ride that has defined the stock’s performance in recent weeks. The rally follows reports of a high-level meeting convened by Niti Aayog with top two-wheeler manufacturers to accelerate the adoption of electric motorcycles in India.
Reserve Bank of India Governor Sanjay Malhotra on Monday indicated the central bank's readiness to take appropriate measures to support the economy, just days before the US begins charging a 50% tariff on Indian goods.
"Whatever is required to support economic growth, including those of sectors that are impacted more, we will not be found wanting in our job," Malhotra said at the annual banking conference FIBAC jointly organised by the Indian Banks Association and FICCI at Mumbai.
Bharat Bijlee's board has approved transformer capacity addition for additional capex of Rs 65 crore. To increase transformer capacity at Navi Mumbai factory to 35,000 MVA from 28,000 MVA.
MVA stands for Megavolt-Amperes
Slowdown in corporate credit is because of deleveraging of balance sheets, strong cash flows
Important for corporates to start capital expansion which will also deepen markets
Will request RBI, IBA for smoother acquisition funding from banks side
Corporate credit is more of a demand issue than supply side
Source: SBI Chairman CS Shetty
The performance of Indian IT companies over the last two years has been closely tied to global macroeconomic events. With a majority of their revenues dependent on international markets, these firms have been hit by successive global shocks — the Russia–Ukraine war that created uncertainty for European clients, the US Fed’s rate pause, which dampened discretionary spending, and now the Trump tariffs, which have further clouded business sentiment.
Despite sitting on a multi-year high order book, the sector has struggled to execute projects as clients continue to defer spending decisions in an uncertain global environment.
Sagility India Ltd.'s share price extended gains to third day tracking overall gains in information technology stocks. The company provides technology and transformation driven business process management mostly in medical and healthcare domains.
Sagility India Ltd.'s share price extended gains to third day tracking overall gains in information technology stocks. The company provides technology and transformation driven business process management mostly in medical and healthcare domains.
Studio LSD Ltd.'s shares were down 20% from its issue price on Monday after the company had a dull listing at Rs 43.20 on NSE Emerge Platform. The multimedia production house specialises in creating original content and the the total market cap of the company stands at Rs 213.02 crore.
After listing, the total 'sell' quantity is at 18.68 lakh shares, according to the NSE.
Evergrande, once China's largest property developer, was delisted from the Hong Kong Stock Exchange on Monday. The company had been listed for for nearly 15 years and, at its peak, had a stock market valuation of over $50 billion.
Evergrande’s inevitable collapse, triggered by its massive debt, sent tremors through China's economy. Experts said the delisting was expected and final, and there is no chance of a return.
TVS Motor Company Ltd.'s share price declined over 1% on Monday despite Goldman Sachs raising its 12-month price target to Rs 3,430, up from Rs 3,110 earlier, citing upcoming product launches and easing supply constraints. The brokerage maintains a ‘Neutral’ rating on the stock.
PTC Industries Ltd. appointed Baljinder Singh Koura as vice president of operations, Aerospace Castings at Aerolloy Technologies, the company said in the exchange filing.
Reliance Power Ltd. hit a lower circuit of 5% and fell to Rs 46.46 apiece. It remained locked in the 10:40 a.m.
Reliance Power Ltd. hit a lower circuit of 5% and fell to Rs 46.46 apiece. It remained locked in the 10:40 a.m.
In Monday's session, paper producing companies' stocks advanced. JK Paper Ltd., West Coast Paper Mills Ltd., and Tamil Nadu News Print And Paper share prices advanced.
In Monday's session, paper producing companies' stocks advanced. JK Paper Ltd., West Coast Paper Mills Ltd., and Tamil Nadu News Print And Paper share prices advanced.
Shares of Mazagon Dock Shipbuilders Ltd. rose during early trading on Monday after the Central government gave clearance to the Defence Ministry to begin negotiations for the Rs 70,000 crore deal to buy six submarines to be built in India with German support under 'Project 75 India'.
Shares of Mazagon Dock Shipbuilders Ltd. rose during early trading on Monday after the Central government gave clearance to the Defence Ministry to begin negotiations for the Rs 70,000 crore deal to buy six submarines to be built in India with German support under 'Project 75 India'.
Initiate overweight with target price of Rs 745
From a Regional Leader to a Pan-Indian Champion
Transforming the Cement Industry
Enhancing its cost leadership through various initiatives
Alongside plans to reduce raw material costs by 8-10%
Believe Ambuja's shares could trade at an 18.5x in bull case scenario, resulting in a price of Rs 1,000
Implementation of New GST Rates Likely by around September 22
Rollout expected to coincide with Navratri, starting September 22
Notifications to begin rolling out 5–7 days after Council’s decision
Alert: All-Powerful GST Council to Meet on September 3–4 in Delhi
Alert: To decide on Centre’s simplified 2-slab proposal: 5% & 18%
Source: People In The Know
On National Stock Exchange, 12 sectoral indices opened higher, three declined out of 15.
On National Stock Exchange, 12 sectoral indices opened higher, three declined out of 15.
Infosys Ltd., Reliance Industries Ltd., Tata Consultancy Services Ltd., Larsen & Toubro Ltd., and Mahindra & Mahindra Ltd. added to the NSE Nifty 50 index.
HDFC Bank Ltd., Bajaj Finserve Ltd., and ICICI Bank Ltd. limited losses.
Infosys Ltd., Reliance Industries Ltd., Tata Consultancy Services Ltd., Larsen & Toubro Ltd., and Mahindra & Mahindra Ltd. added to the NSE Nifty 50 index.
HDFC Bank Ltd., Bajaj Finserve Ltd., and ICICI Bank Ltd. limited losses.
The NSE Nifty 50 and BSE Sensex opened higher tracking a rise in Infosys Ltd., and Reliance Industries Ltd. share prices. The indices were trading 0.22% and 0.30% higher, respectively as of 9:21 a.m.
The NSE Nifty 50 and BSE Sensex opened higher tracking a rise in Infosys Ltd., and Reliance Industries Ltd. share prices. The indices were trading 0.22% and 0.30% higher, respectively as of 9:21 a.m.
The yield on the 10-year bond opened flat at 6.54%
Source: Bloomberg
Rupee opened 7 paise stronger against US dollar at 87.40
It closed at 87.53 a dollar on Friday
Source: Bloomberg
Bajaj Finance has emerged as one of Jefferies's top picks in the consumer finance space, with brokerage assigning a 'Buy' rating and a target price of Rs 1,100 implying a 23% upside from the current level. Jefferies said, “BAF is among a handful of lending platforms that are large by market cap ($64bn), that are able to grow over 20% and deliver near 20% ROE.”
Divi's Laboratories Ltd. share price will be in focus on Aug. 25 after global brokerage Jefferies upgraded the stock to 'Buy' as it expects that growth momentum will continue. Custom synthesis segment and new launches will support the pharma major's growth. The brokerage has given a target price of Rs 7,150 apiece, which implied 16.18% upside from Friday's close.
HDFC Bank Ltd. will be on the market radar on Monday as it marks the last session for investors to buy shares to qualify for the bonus issue of shares ahead of the record date.
ITC Hotels Ltd. received a 'sell' initiation from JM Financial as it sees stretched valuations and restricted near-term growth. "Having developed a strong portfolio of owned assets over the last two decades, the ITC Hotels has an asset-light pipeline to further expand its footprint to over 200 hotels and 20,000 keys by 2030," analysts said in a note.
Godrej Properties has sold homes worth Rs 1,000 crore at the launch of Godrej Regal Pavillion in Hyderabad. The estimated revenue potential of Godrej Regal Pavillion is at 3,600 crore.
Amanta Healthcare Ltd. will offer shares in the range of Rs 120-126 per share for the upcoming initial public offering next week. The IPO will open for bidding in the primary market on Monday, Sept.1, and close on Wednesday, Sept. 3.
The IPO consists entirely of a fresh issue of 1.25 crore equity shares.
Asia-Pacific share indices were trading higher, tracking gains on Wall Street. US Federal Reserve Chair Jerome Powell's remarks had an hint of rate cut as early as in September.
The Hang Seng and CSI 300 were trading 1.61% and 1.15% higher, respectively as of 7:57 a.m.
The GIFT Nifty was trading 0.08% or 19.50 points lower at 24,978.00 as of 6:56 a.m. This implies the NSE Nifty 50 index may open 77 points higher as the GIFT Nifty levels stand higher than the benchmark's last close.
Traders will keep an eye on InterGlobe Aviation Ltd., Max Healthcare Institute Ltd., Bajaj Auto Ltd., Welspun Corp Ltd., and SJVN Ltd.
The benchmark equity indices closed in the red on Friday.
The NSE Nifty 50 closed 0.85% lower at 24,870.10, and the BSE Sensex closed 0.85% down at 81,306.85.
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