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Market breadth was slightly skewed in favour of buyers. Around 1,955 stocks rose, 1,877 stocks fell, and 99 stocks remained unchanged on BSE.
Trident Ltd. appointed Samir Joshipura as CEO with effect from Tuesday.
Source: Exchange Filing
In pact with Bennett and Coleman Co for expense management platform.
Source: Exchange Filing
LTIMindtree Ltd has registered a branch office in Czech Republic with from Feb 16.
Source: Exchange Filing
Sun Pharmaceutical Industries Ltd. agreed to acquire a 16.33% stake in U.S.-based Surgimatix, Inc. for $3.05 million.
Source: Exchange filing
The company will develop a gated community having a 16,000 square feet area in Bandra East.
Project to have an estimated development value of over Rs 2,000 crore.
Source: Exchange filing
Shares of the Zee rose hit an upper circuit of 15% to Rs 205.25 apiece, the highest level since Feb 12. It came off the upper circuit to trade 10.20% higher at Rs 196.70 as of 2:22 p.m. This compares to a 0.05% advance in the NSE Nifty 50 Index.
The stock has declined 13.03% in the past 12 months. The relative strength index was at 43.81.
Out of 22 analysts tracking the company, two maintain a 'buy' rating, four recommend a 'hold,' and 16 suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies a downside of 5.0%.
Delta Corp Ltd. is set to sell its entire stake in its subsidiary, Caravella Entertainment Private Ltd. for Rs 62 crore to Ability Games Ltd. and Ashtek Consultancy Pvt.
The stake sale aligns with Delta Corp's vision to optimize its portfolio and enhance shareholder value, the company said.
Source: Exchange filing
33 out of the 41 analysts tracking xxx have a 'buy' rating on the stock, as many as seven recommend a 'hold' and 1 suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 15.9%.
Zaggle Prepaid Ocean Services Ltd. entered into an agreement with Easy Trip Planners Ltd. to offer integrated travel and expense management solutions to corporate clients.
The time period by which the contract is to be executed is three year, according to an exchange filing.
Source: Exchange Filing
Indian Oil Corp. has 10.8 lakh shares or 0.01% equity change hands in a large trade on Tuesday.
The shares changed hands at Rs 185.85 apiece, and the buyers and sellers were not known immediately.
Source: Bloomberg
Easy Trip Planners, along with the Jeewani Group has partnered with the Radisson Hotel Group to construct a 150-room hotel in Ayodhya city.
The Radisson Blu Hotel is expected to open in 2027 and is strategically located within two kilometers of Shri Ram Mandir, the company said in an exchange filing.
Source: Exchange filing
NBCC received an order worth Rs 560 crore to construct a permanent campus of the National Institute of Technology, Sikkim.
Source: Exchange filing
Waaree Renewable Ltd. received a Letter of Award for a 980 megawatt peak solar power project worth Rs 990.6 crore.
The project is scheduled to be completed within 12 months, and the order from the domestic customer will be executed on an engineering, procurement and construction basis, the company said in its exchange filing.
Source: Exchange filing
The scrip rose as much as 13.06% to Rs 84.80 apiece, the highest level since Jan 9. It was trading 12.67% higher at Rs 84.35 apiece, as of 11:11 a.m. This compares to a 0.1% decline in the NSE Nifty 50 Index.
It has risen 51.91% in 12 months. Total traded volume so far in the day stood at 12 times its 30-day average. The relative strength index was at 61.84.
Out of five analysts tracking the company, three maintain a 'buy' rating, one recommend a 'hold,' and one suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 4.1%.
Whirlpool Of India at 48.91 times its 30-day average
Allcargo Logistics at 10.25 times its 30-day average
Deepak Fertilisers & Petrochem at 9.62 times its 30-day average
E.I.D.-Parry at 2.89 times its 30-day average
Aarti Drugs at 2.87 times its 30-day average
Shares of Ramkrishna Forgings rose as much as 5.46%, before paring gains to trade 3.08% higher at 11:09 a.m., compared to a 0.11% decline in the benchmark Nifty 50.
The stock has risen 23.83% in the last 12 months. The relative strength index was at 61.2.
Of the 50 analysts tracking the company, 28 have a 'buy' rating and 22 recommend a 'hold', according to Bloomberg data. The average 12-month analysts' price target implies a potential upside of 10.4%.
DroneAcharya Aerial Innovations Ltd. signed a term sheet to acquire a 76% stake in Aerophile Academy Pvt., a DGCA-certified drone pilot training center in South India.
The move will not only enhance the company's geographical reach but also strengthen its capabilities in delivering top-notch drone pilot training solutions, the company said in an exchange filing on Tuesday.
Source: Exchange Filing
Paytm stock rose as much as 5% during the day to hit the upper circuit of Rs 376.25 apiece on the NSE. This compares to a 0.08% decline in the benchmark Nifty 50 as of 10:44 a.m.
It has fallen 40.33 % in the last 12 months. The total traded volume so far in the day stood at 0.2 times its 30-day average. The relative strength index was at 29.8.
Six out of the 14 analysts tracking Paytm have a 'buy' rating on the stock, as many as three recommend a 'hold' and five suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 40.3%.
HDFC Bank Ltd.'s management clearly guided that earnings per share growth will be prioritised over loan growth, according to Bernstein Research.
"The fresh deposits will be first utilised to replace the maturing high cost borrowings of eHDFCL, with the balance then used to fund incremental growth opportunities," the research firm said in a Feb. 19 note.
"While the resultant loan growth can hence be 'a tad lower', the replacement of high-cost liabilities will boost margins/profitability," the note said.
The scrip rose as much as 2.37% to Rs 281.15 apiece, the highest level since Oct 10, 2014. It was trading 0.98% higher at Rs 277.35 apiece, as of 09:55 a.m. This compares to a 0.28% decline in the NSE Nifty 50 Index.
It has declined 79.14% in 12 months. Total traded volume so far in the day stood at 1.6 times its 30-day average. The relative strength index was at 69.23.
Out of 28 analysts tracking the company, 16 maintain a 'buy' rating, six recommend a 'hold,' and six suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies a downside of 5.3.%.
Deepak Fertilisers stock rose as much as 10.57% during the day to Rs 546.7 apiece on the NSE. It was trading 7.07% higher at Rs 529.4 apiece, compared to a 0.24% decline in the benchmark Nifty 50 as of 10:07a.m.
It has declined 17.38% in the last 12 months. The total traded volume so far in the day stood at 43 times its 30-day average. The relative strength index was at 39.5.
Two analysts tracking Deepak Fertilisers have a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 29.3%.
Shares of Vibhor Steel Tubes Ltd. listed at Rs 425 apiece on the NSE, a premium of 181.46% over their IPO price of Rs 151 apiece.
On the Bombay Stock Exchange, the stock debuted at Rs 421, a 178.81% premium.
This is the fourth best listing on Indian bourses ever, after Sigachi Industries (listed in November 2021), Paras Defense and Space Technologies (October 2021) and Religare Enterprises (November 2007).
Read more here.
Tech Mahindra Ltd. is set to acquire a 100% stake in Orchid Cybertech Services for AUD 5 million
Orchid Cybertech Services provides Customer experience related services to TPG Telecom
Source: Exchange filing
The broader markets outperformed larger peers; the S&P BSE MidCap Index was down 0.02%, whereas S&P BSE SmallCap Index was 0.43% higher.
13 out of 20 sectors compiled by BSE declined, with S&P BSE Auto declining the most. S&P BSE Realty rose the most.
The market breadth was skewed in the favour of the buyers. About 1,918 stocks rose, 1,231 declined, while 101 remained unchanged on the BSE.
At pre-open, the S&P BSE Sensex Index was up 19.71 points, or 0.03%, at 72,727.87 while the NSE Nifty 50 was down 23.05 points or 0.10% lower at 22,099.2.
The yield on the 10-year bond opened flat at 7.10%.
Source: Bloomberg
The local currency opened flat at 83.01 against the U.S. Dollar.
Source: Bloomberg
The brokerage reiterates 'Buy' on Coal India with a target price of Rs 520 per share.
Management slightly lowered its FY25 volume guidance to 838 million tonnes.
E-auction premiums declined in Jan-Feb’24 to 35-50% vs 117% in 3Q FY24
Slightly trimmed e-auction premium for FY26E .
Expects employee costs to slightly decline going forward.
Nuvama downgrades NBCC to 'Hold' From 'Buy' rating
Target price of Rs 143 per share.
Management guided for Rs 10,500–11,000 crore revenues for FY24.
Believes 115% run-up in stock leaves little room for upside.
Expects it to rework on its land bank monetisation plans.
Revised P/E multiple to 40 time factoring in improved order intake.
Nuvama maintains 'Hold' on Schaeffler India; raises target price to Rs 3,283 per share.
Mixed numbers: domestic business aids topline; adverse sales mix hurts margin.
Momentum from automotive and industrial sectors to keep revenue growth on track.
New product opportunities: strong growth driver in medium-to-long term.
Chinese Shares Reverse Monday Gain, Baht Tumbles: Markets Wrap
Investors Are Turning Wary Of Crowded India Trade After Run-Up
Price band revised from 10% to 5%: Azad Engineering, HPL Electric & Power, Inox Wind, MIC Electronics.
Price band revised from 20% to 10%: KIOCL, Mangalore Refinery and Petrochemicals.
Ex/record Dividend: Centum Electronics, TCI Express, Hindustan Aeronautics, MSTC, HIKAL, Coal India, Amrutanjan Health Care, Steel Authority of India, Precision Wires India, Apollo Hospitals, Aurobindo Pharma, Power Finance Corp, Refex industries.
Ex/record Bonus issue: Choice International.
Moved out of short-term ASM framework: Automotive Stampings and Assemblies, Gensol Engineering, Global Surfaces, Ramky Infrastructure, Triveni Turbine, Yes Bank.
Jamna Auto Industries: Promoter Map Auto revoked a pledge of 1.25 lakh shares on Feb. 16.
Paisalo Digital: Promoter Equilibrated Venture Cflow revoked a pledge of 1.32 crore shares on Feb. 16.
Sasken Technologies: Promoter group Bharat Pravinchandra Mehta sold 2,500 shares on Feb 16.
Bajaj Finserv: Promoter Bachhraj and Company bought 14.26 lakh shares, Deepa Bajaj sold 1.24 lakh shares, Rajivnayan Bajaj sold 3.2 lakh shares and Rishab Family Trust Rajivnayan Bajaj sold 9.82 lakh shares on Feb. 14.
Russia’s Crude Oil Delivery Problems To India Aren’t Over Yet
Minda Corp: Bela Agarwal sold 1.08 crore shares (4.53%), while Motilal Oswal Mutual Fund bought 43.7 lakh shares (1.82%), Kotak Mahindra Mutual Fund bought 42.93 lakh shares (1.79%). Mahindra Manulife Mutual Fund bought 7.4 lakh shares (0.3%) at Rs 403 apiece.
Oil Holds Near Three-Month High After Another Red Sea Attack
Whirlpool of India: Promoter Whirlpool Mauritius will divest a 24% stake at a floor price of Rs 1,230 per share, which indicates a discount of 7.6% to the current market price.
Kotak Mahindra Bank: The company appointed Devang Gheewalla as the Chief Financial Officer and Key Managerial Personnel of the Bank and Milind Nagnur as the Chief Operating Officer of the Bank.
Torrent Power: The company will develop four projects of pumped storage hydro, green hydrogen, and solar energy generation with an investment of Rs 25,000 crore in Uttar Pradesh.
Godrej Consumer: The company and its arm will divest the entire stake in its Mauritius-based unit, Godrej East Africa Holdings, to HKG Africa Weave for a consideration of Rs 30 crore.
CIE Automotive: The company reported a 0.29% decline in revenue at Rs 2,240.39 crore year-on-year in the third quarter, while net profit was down 9.12% at Rs 177.05 crore. The board approved a final dividend of Rs 5 per share.
ONGC: The shareholders of Cyprus-based step-down unit IEL have approved the merger of five arms with itself. The unit will have three step-down units in Cyprus post-merger.
Deepak Fertilisers & Petrochemicals: The company entered into a long-term supply agreement for liquefied natural gas with Equinor ASA, Norway.
NBCC: The company received three work orders worth Rs 369.05 crore.
LTIMindtree: The company announced the launch of Navisource.AI, a GenAI powered autonomous sourcing platform. The platform aims to reduce overall procurement costs by 10–15%.
Paisalo Digital: The board will consider fundraising on Feb. 22.
Piramal Enterprise: The company will consider fund raising on Feb 22.
Ugro Capital: The company appointed Sharad Agarwal as the Chief Operating Officer after Om Prakash Sharma resigned.
Marico: The FMCG giant introduced four gourmet style flavours in its flavoured oats range under its flagship brand, Saffola.
Rhi Magnestia India: Vijaya Gupta resigned from the position of Chief Financial Officer.
Tasty Bite Eatables: Milin Bande has resigned from the position of Chief Financial Officer.
Astra Microwave Products: The company incorporated a wholly owned subsidiary, Astra Space Technologies, for Rs 10 lakh.
Hikal: The company appointed Dharmesh Panchal as the chief technology officer.
Orient Green Power: Edelweiss (plaintiff) has withdrawn from the suit filed against promoter SVL and the company before the High Court of Bombay.
ABB India, Elantas Beck India: The two companies will announce their quarterly results on Tuesday.
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