Stock Market Live: Nifty Above 25,100, Sensex Trades Flat At Open; Coal India, ONGC, Power Grid Lead Gains
The benchmark indices on Monday extended their winning streak for the third consecutive session, closing in the green.
What Brokerages Say: Equirus Downgrades Trent To Reduce
Equirus downgraded Trent Ltd. to Reduce as it expects that the premium will decline on slowing growth. The target price is Rs 4,474 apiece, which implied 5% downside from Monday's close.
Trent delivered exceptional topline compounding of 39% and 28% over the last five and 10 years, respectively. The street rewarded the hyper growth handsomely, which is reflecting in Trent's valuation profile. Its five-year average one-year forward P/E multiple hovering around 95x times, Equirus said.
Stock Market Live: Nifty Above 25,000, Sensex Trades Flat At Pre-Open
The benchmark index Nifty 50 was trading in the green along with Sensex that was trading marginally higher during the pre-open session as of 9:11 a.m.
Rupee Vs Dollar: Rupee Opens Stronger Against US Dollar
Rupee opened 6 paise stronger at 88.73 against the greenback
It closed at 88.79 a dollar on Monday
Source: Bloomberg
Stock Market News Live: What F&O Cues Indicate
Nifty Oct futures up 0.70% to 25,181.1 at a premium of 104 points.
Nifty Oct futures open interest up by 1.56%.
Nifty Options 7th Oct Expiry: Maximum Call open interest at 25,200 and Maximum Put open interest at 25,000.
Securities in ban period: RBL Bank
Primary Market Action: D-Street Debut
Glottis: The company's shares will debut on the stock exchange on Tuesday at an issue price of Rs 129 apiece. The public issue was subscribed to 2.05 times on day three. The bids were led by Qualified institutional investors (1.87 times ), non-institutional investors (2.97 times), retail investors (1.42 times).
Fabtech Technologies: The company's shares will debut on the stock exchange on Tuesday at an issue price of Rs 191 apiece. The public issue was subscribed to 2.03 times on day three. The bids were led by Qualified institutional investors (2.02 times ), non-institutional investors (1.97 times), retail investors (2.08 times).
