Goldiam International Share Price Locked In Upper Circuit
Goldiam International Ltd.’s share price surged to hit its 10% upper circuit limit on Tuesday. The stock has risen 100.06% on a year-to-date basis and 171% in the last 12 months.
SpiceJet Share Price Surges As It Acquires 7 Aircraft On Lease By November-End, Unground Three
SpiceJet share price surged over 8%, snapping a three-day fall, after it acquires seven aircraft on lease by the end of November. The low-budget carrier also plans to unground three previously grounded planes to increase the fleet by 10 planes.
SpiceJet To Acquire Seven Aircraft On Lease By November-End, Unground Three
Vakrangee Share Price Locked In Upper Circuit On Private Label Apparel Products Launch
Vakrangee share price was locked in 5% upper circuit limit after it announced the sourcing and distribution of its own private label Apparel products under the e-commerce business category.
“The company has successfully launched the pilot phase in the apparel segment and would leverage the extensive network of Vakrangee Kendra outlets, including both franchisee and master franchisee channels,” an exchange filing said.
Stock Market Live: Trent Share Price Extends Gains
Trent share price rose 5.78% to Rs 7,880, the highest level since Sept 27. The share price was trading 4.88% higher at Rs 7,805.00 as of 11:19 a.m., as compared to 0.58% advance in the NSE Nifty 50 index.
Zomato Share Price Rises As Analysts Positive
Zomato Ltd. continues to hold its edge in India’s highly competitive food delivery and quick commerce markets, with two brokerages reaffirming their confidence in the company’s growth potential. HSBC Global and Kotak Institutional Equities have both maintained their ‘buy’ ratings on Zomato, highlighting the company’s robust performance.
Zomato’s Higher Gross Order Value, Blinkit Business Growth Has Analysts Optimistic
Polycab Likely To See Most Revenue Growth In Cable & Wires Space; KEI To Outperform On Profit Front
Polycab India Ltd. is likely to report the highest revenue growth compared to peers in cable and wires space, while the KEI Industries Ltd. may post highest profit growth, HSBC Global Research said in note on Tuesday.
Nirmal Bang, Kotak Securities, Angel One, Zerodha Among 120 Stock Brokers Received SEBI Notices
SEBI has issued notices to over 120 stockbrokers for their association with Tradetron, an algo trading platform. The regulator is investigating stockbrokers associated with Tradetron for possible violations. Some trading strategies on Tradetron promised assured returns, violating SEBI rules.
Source: People in the know and review of notice contents
SEBI Issues Notices To Over 120 Stockbrokers For Association With Tradetron
Flipkart, Accel-Backed Blackbuck Gets SEBI Nod For IPO
SEBI said Blackbuck will raise up to Rs 550 crore from a fresh issue and sell 2.16 crore shares in the offer-for-sale portion. Selling shareholders include Peak XV Partners, Accel, Flipkart, Tiger Global, and International Finance Corp.
Flipkart-Backed Blackbuck Gets SEBI Nod For IPO
Dalal Street Braces For More Jitters As Earnings Likely To Falter Amid Outflow Woes
As India’s blue-chip companies will kick-start reporting the results of their second-quarter earnings from Oct. 10, led by Tata Consultancy Services Ltdd. investors in Indian stocks might be in for more turbulence amid economic concerns and foreign flows as India Inc. will likely post muted earnings for the second quarter.
Nifty Bank Gains After Falling In Six Sessions Led By Gains In HDFC Bank, SBI Share Price
Nifty Bank snapped its six-session fall and rose with most of its constituents rising. Share prices of HDFC Bank and State Bank of India contributed the most to the index’s gain.
NSDL IPO Gets Green Light From SEBI
India’s securities market regulator approved the initial public offering of National Securities Depository Ltd. on Monday. The maiden issue of the Mumbai-based securities depository will consist only of an offer for sale component.
Tata Motors Share Price At Four-Month Low; Weighs On Nifty
Tata Motors share price fell after Jaguar Land Rover Ltd. (UK), a subsidiary of Tata Motors Ltd., announced that it anticipates a significant increase in production and wholesale volumes in the second half of the fiscal year.
According to an exchange filing by Tata Motors, JLR’s retail sales, which include the Chery Jaguar Land Rover China Joint Venture, declined by 3% year-on-year to 103,108 units for the quarter ending September 2024.
Skipper Share Price Jumps Nearly 7% As Nuvama Initiates Coverage
Nuvama has initiated coverage on the stock with a ‘buy’ and a target price implying 44% upside at Rs 650. It said that the company’s presence across the T&D ecosystem is poised for a powerful performance and high-voltage macro tailwinds for it include domestic and international drivers. The brokerage also likes the company’s doubling tower capacity which is only backward-integrated player in India. According to the brokerage, key risks are execution and order award delays, sharp price movement of raw material and working capital management.
Skipper Share Price Jumps 10% As Nuvama Initiates ‘Buy’
Ola Electric Share Price Slips After Show Cause Notice
Ola Electric share price opened more than 5% lower on Tuesday following a show cause notice received by the company from the central government on Monday due to thousands of complaints filed by customers for poor quality of scooters. However, the stock recovered later.
Ola Electric Share Price Slips After Show Cause Notice Following Scooter Quality Complaints
Nifty Metal Falls For Fourth Session; Tata Steel, JSW Steel, Hindalco Drag
Nifty Metal fell for a fourth consecutive session on Tuesday, losing more than 5% in the fall as shares of Tata Steel, JSW Steel, and Hindalco Industries dragged the most.
Tata Steel, Coal India And Other Metal And Mining Stocks Decline On Concerns Of Margin Contraction
Nifty, Sensex Flat After Higher Open As Tata Steel, Tata Motors Drag: Stock Market Update At Open
Benchmark equity indices traded flat after a higher open as gains in the shares of HDFC Bank offset some of the impact of losses in those of Tata Steel and Tata Motors. The market is expected to see a muted session today tracking the fall in most global indices.
At pre-open, the Nifty was at 24832.2, higher by 0.15% or 36.45 points and the Sensex was at 81035.00, down 0.02% or 15.00 points.
According to Sameet Chavan, head of research of technical and derivative at Angel One, “The Bulls have taken the back seat as Nifty continued to plunge lower for the sixth consecutive session and plummeted below the 50-day exponential moving average on the daily chart.”
He added that decoupled with the positive momentum in global markets, our domestic sentiments have turned a bit skeptical as the benchmark cooled down over 5% from its peak. “Technically, Nifty is now placed at a crucial zone, which historically has acted as a strong support,” he said. “Therefore, any decisive breakdown below the 24800 zone is likely to disrupt the short-term chart structure, potentially leading to further correction.”
Shares of HDFC Bank Ltd., Mahindra & Mahindra Ltd., Hindustan Unilever Ltd., State Bank Ltd., and Axis Bank Ltd. contributed the most to the gains.
While those of Tata Motors Ltd., Tata Steel Ltd., Hindalco Industries Ltd., Power Grid Corp. Of India Ltd., and TCS capped the upside.
Vodafone Idea Clarifies On Bank Guarantee Report
Share price of Vodafone Idea will remain in focus today as it clarified on the report of not submitting bank guarantees. The company said it has made detailed representations to telecom department and that it continues to engage with DoT on removal for bank guarantee, an exchange filing said.
Nifty Higher, Sensex Flat At Pre-Open: Share Market Update
At pre-open, the Nifty was at 24832.2, higher by 0.15% or 36.45 points and the Sensex was at 81035.00, down 0.02% or 15.00 points.
“Market is expected to open on a weak note due to significant declines in global markets,” said Vikas Jain, head of research at Reliance Securities.
Yield On The 10-Year Bond Opens Lower
The yield on the 10-year bond opened 2 basis points lower at 6.83% after it closed at 6.85% on Monday, according to Cogencis.
Rupee Strengthens Against US Dollar At Open
The local currency opened 2 paise higher against the US dollar at 83.96 on Tuesday after the Indian unit closed at 83.98 a dollar on Monday, according to Cogencis.
Morgan Stanley On India Equity Strategy
Morgan Stanley said that it is incrementally more concerned on oil price and global growth risk to cyclical markets an China policy easing is important but valuations have re-rated substantially. It said that geopolitical risks, US elections, 2025 policy uncertainty prime concerns. According to the brokerage, India remains largest overweight and it has scale back underweight China position for pan asia/ EM investors to -50 bps.
China Market Update: CSI 300 Pares Gains After 10% Jump; Hang Seng Down 6%
China’s CSI 300 pared gains after jumping nearly 10% in the early trade as traders assessed the comments from country’s economic planner national development and reform commission in a press briefing. At 8:38 a.m. CSI 300 was at 4,253.99, up 236.14 points or 5.88% and Hong Kong’s Hang Seng was at 21,546.49, down 7%.
According to Arvind Sanger, founder and MD of Geosphere Capital China’s valuations will see some fund flow in short term but in long term India growth story has solid underpinning. He added that it is very hard to call China’s next move depending on their policy measures and question is how much is China willing to do in the short term to shift the paradigm.
China Stocks Lose Steam On Lack Of Big Bang Fiscal Measures: Asia Markets Wrap
Stocks To Watch On Tuesday
Shares of Ola Electric Mobility are likely to extend its fall to another session as it was served a notice by Central Consumer Protection Authority for alleged violation of consumer rights, misleading advertisement, and unfair trade practices. Those of Hi-Tech Pipes and Jubilant Ingrevia will react to the news of fundraise.
HDFC Bank‘s stock will move as investors assess the sale of HDFC Edu to Vama Sundari Investments for Rs 192 crore and that of Bharat Electronics and Nuvoco Vistas are expected to rise on order wins.
Puravankara‘s stock will move on news that it will acquire a three-acre land parcel in North Bangalore for a residential project. Share price of Tata Motors will react to JLR quarterly numbers, Nykaa and Sobha Realty will also move after the release of quarterly business update.
Click here for more stocks to watch.
CLSA Upgrades M&M Share Price Rating To ‘Outperform’
CLSA had upgraded its rating for shares of Mahindra & Mahindra Ltd. to outperform and had hiked its target price to to Rs 3,400 implying 11% upside. The brokerage said improved scale, superior mix and better pricing drove auto margins and going ahead it expects better scale and average selling price given new models. CLSA also expects domestic tractor industry to revive and has raised expectations of earnings per share by 5% each for FY25 & FY26.
Ola Electric Gets Show Cause Notice Consumer Body
Ola Electric has received show cause notice from central consumer protection authority for alleged violation of consumer rights. The authority has provided the company with 15 days to respond to show cause notice, an exchange filing said.
Ola Electric Gets Show Cause Notice After Thousands Of Customer Complaints
Stock Market Live: Gold Futures Decline Slightly In Asian Trade
Gold Futures declined slightly in Asian trade as investors rethink their bets on bigger rate cuts by the US Federal Reserve after stronger than expected jobs report.
The Bloomberg Spot Gold was trading 0.06% down at $2,641.01 an ounce as of 07:49 a.m.
Gold Demand In Festive Season To Remain Unaffected By Recent Price Rise: PN Gadgil Jewellers MD
US Market Close: Wall Street Ends Lower
Indices in the US ended lower on Monday amid middle east tensions and as traders expectations of 50-bps rate cut in November waned following stronger than expected jobs report. S&P 500 closed down 0.96% at 5,695.94, Dow Jones down 0.94% at 41,954.24, and Nasdaq Composite down 1.18% at 17,923.91.
US Stock Markets Today: S&P 500 Opens 0.24% Lower; Nasdaq, Dow Jones Decline
Oil Price Update: Crude Falls After Rally On Geopolitical Tensions
December futures contract of brent crude traded 0.6% lower at $80.4 a barrel as of 7:22 a.m. This was as traders booked profits after a rally in oil prices amid fears of a war in middle east.
Brent Oil Rises To $80 A Barrel For First Time Since August
Asia Market Open: Nikkei Falls On Japan Data; CSI 300 Jumps 10%
Indices in Asia opened lower on Tuesday, taking cues from an overnight decline on Wall Street and Japan’s pay. China’s CSI 300 surged 10% after a week-long holiday.
At 7:17 a.m., CSI 300 was at 4,284.18, up by 266.32 points or 6.63%, while Japan’s Nikkei was 0.7% lower and South Korea’s Kospi fell 0.8%.
China Stocks Lose Steam On Lack Of Big Bang Fiscal Measures: Asia Markets Wrap
GIFT Nifty Trades Below 24,900; BEL, Puravankara, Tata Motors, ICICI Bank Shares In Focus
The GIFT Nifty was at 24,859.50 down by 28.5 pts or 0.1% as of 06:46 a.m. Share prices of Ola Electric Mobility Ltd., Bharat Electronics Ltd, Puravankara Ltd., Tata Motors, along with Sobha Realty will be in focus among others tracking news flow.
On Monday, India’s benchmark stock indices closed lower for the sixth straight day, shedding over 5% to over one-month low on Monday, led by losses in HDFC Bank Ltd., Reliance Industries Ltd. and Axis Bank Ltd. This was its worst six-day decline since March 2022. The state election results kept the market jittery.
The Nifty 50 ended 218.85 points or 0.87% lower at 24,795.75, and the Sensex closed 638.45 points or 0.78% lower at 81,050.00.
Overseas investors stayed net sellers of Indian equities for the sixth straight day on Monday, while domestic institutional investors record the highest single-day buying so far in 2024.
Foreign portfolio investors offloaded stocks worth Rs 8,293.41 crore, according to provisional data from the National Stock Exchange. This is the eighth highest single-day sales by the FPIs so far this year.
The Indian rupee closed flat at 83.98 against the US dollar.
Nifty, Sensex Close At Over One-Month Low As HDFC Bank, RIL Share Prices Drag: Market Wrap . Read more on Markets by NDTV Profit.Gains in the share prices of HDFC Bank, M&M, and Axis Bank kept the Nifty and Sensex from falling. Stay updated with the latest on stock market. Read MoreMarkets, Business, Notifications
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