Prestige Estates Share Price Falls After Morgan Stanley Downgrade

Share price of Prestige Estates Projects Ltd. fell over 5% on Wednesday, after Morgan Stanley downgraded the stock to ‘underweight’ from its previous ‘overweight’ rating, citing weaker pre-sales momentum and a reduced outlook for the company. The brokerage firm also lowered its price target for Prestige Estates to Rs 1,510 from Rs 1,770 per share, implying an 11.4% downside.

Ola Electric Records Best Session Since September

Shares of Ola Electric Mobility Ltd. surged over 9% on Wednesday after the electric scooter manufacturer unveiled new two-wheelers aimed at India’s gig workers, even as the company reels under service-related issues.

NTPC Green Share Price Surges Over 13% To Cross 1 Lakh Crore In Market Cap: Share Market News

NTPC Green share price jumped more than 13% to its upper circuit limit after it got listed at a 3.33% premium on the bourses. The company’s market cap was at 1.03 lakh crore at 10:34 a.m.

New Listing: NTPC Green Energy Lists At 3.33% Premium Over Issue Price

Shares of state-owned NTPC Ltd.’s renewable arm, NTPC Green Energy Ltd., listed on the BSE on Wednesday at Rs 111.60 apiece, a premium of 3.33% over the issue price of Rs 108 apiece. The stock listed at Rs 111.50 per share on the National Stock Exchange, marking a premium of 3.24%.

Siemens Share Price Hits One-Month High As Brokerages Raise Target After Q4 Results

Siemens India Ltd.’s September quarter results announced Tuesday has led brokerages to raise the stock’s target price, driving the stock to hit its highest level in over a month.

Most Adani Stocks Gain: Share Market News

Shares of Adani Group companies were trading higher in early market hours on Wednesday, following Adani Green Energy Ltd.’s statement on bribery charges levelled by US Department of Justice. T

Wipro Share Price Hits Over Two-Year High: Share Market News

Wipro Ltd. share price hit the highest level in over two years as the company fetched a $100 million deal from Marelli, a Japan–based automotive solution firm. Wipro has extended partnership with Marelli for four years.

Nifty, Sensex See Muted Start As Airtel, ICICI Bank Share Prices Weigh: Opening Bell

Benchmark equity indices saw a muted start to Wednesday’s session as share prices of Airtel and ICICI Bank weighed but those of Infosys and M&M limited the fall.

At pre-open, Nifty was at 24,204.80, up 0.04% or 10.30 points and Sensex was at 80,121.03, up 0.15% or 116.97 points. However, at 9: 18 a.m., they had erased their gains and traded flat.

According to Hardik Matalia, derivative analyst at Choice Broking, looking ahead, the 24,000 level is expected to act as a critical support zone.”A decisive break below this level could drag the index toward the 23,800–23,600 range,” he said. “On the upside, 24,500 remains a key resistance level, and a sustained breakout above this mark could open the door to higher levels.”

In this volatile environment, he advises traders to adopt a buy-on-dips strategy as long as the index holds above 23,800.

Share prices of Bharti Airtel Ltd., Reliance Industries Ltd., Axis Bank Ltd., UltraTech Cement Ltd., and Cipla Ltd. dragged the Nifty by the most while those of HDFC Bank Ltd., M&M Ltd., Infosys Ltd., Kotak Mahindra Bank Ltd., and Coal India Ltd. minimised the fall.

Most sectoral indices opened lower, Nifty Auto and Nifty IT outperformed.

Nifty, Sensex Higher At Pre-Open

At pre-open, Nifty was at 24,204.80, up 0.04% or 10.30 points and Sensex was at 80,121.03, up 0.15% or 116.97 points.

Yield On The 10-Year Bond Opens Flat

-The yield on the 10-year bond opened flat at 6.85%.

-It closed at 6.85% on Tuesday.

Source: Bloomberg

Rupee Weakens Against US Dollar

-Rupee weakened by 5 paise to open at 84.39 against US Dollar.

-It closed at 84.34 on Tuesday.

Source: Bloomberg

Adani Green Energy Says News Report Claiming Officials Charged With Bribery Or Corruption ‘Incorrect’

Gautam Adani, Sagar Adani and Vneet Jaain have not been charged with any violation of the FCPA or any conspiracy to obstruct justice in the indictment of the US DOJ or the civil complaint of the US SEC, a company statement said.

Bernstein Maintains ‘Outperform’ On Zomato

Bernstein has maintained its outperform rating on Zomato with a target of Rs 335, implying 20% upside. It said past precedents suggests that market leader almost always maintains leadership. Market size in India can reach 9,300 dark tores by 2030 and 70% of dark stores are in Metro and Tier1 cities, 30% in Tier2+ cities. Dark stores can do 2500 orders per day, it said noting BlinkIt is at 41% utilisation and is best placed in terms of cash with QIP providing larger war chest.

Stock Market Today: Antique Broking On Siemens

  • Retains Buy with a target price Rs 8,856, which implied a 22.2% upside

  • Revenue growth stood in line with estimates

  • Ebitda margin witnesses 240 bps expansion, ahead of estimates

  • Healthy execution across mobility and energy segments

  • Believes potential annual orders reaching Rs 40,000 crore over 2–3 years

  • Marginally trim estimates by 6%/ 13% for FY26/ 27 on execution

Gold Prices Extend Gain To Second Day

Gold prices continued to rise for a second day as traders monitor the development between Russia and Ukraine. They also try to understand the implication of higher US tariffs on China. The uncertainties supported the upward trajectory of gold future and spot prices.

News of Israel and Lebanon militant group Hezbollah coming to a agreement to halt hostilities for 60 days limited a rise in the bullion’s price.

The Gold future was trading 0.62% higher at $2,637.60 as of 7:56 a.m. The Bloomberg spot Gold was trading 0.17% higher at $2,637.66 an ounce.

Stock Market Today: J.P. Morgan On Hyundai Motor India

  • Initiates Coverage with Overweight rating TP Rs2200, 17% upside,

  • Hyundai’s premium portfolio, market share gains, and operational efficiencies as key drivers

  • Hyundai’s 68% portfolio comprises the high-profitability SUV segment.

  • Market share expected to increase from 14% in FY25 to 15% in FY27

  • FY24 EBIT/vehicle at Rs. 89,000, a 43% premium compared to peers

  • Valued at a Mar-27 P/E of 25x.

Asia Market Open: Most indices Fall

Most stock indices of the Asia–Pacific were trading lower as market participants parse Australia CPI data which came lower than expected along with China’s industrial profits data, which fell 10% in October from a year ago.

At 7: 47 a.m., Australia’s ASX 200 and South Korea’s Kospi were trading higher by 0.5% and 0.1%, while Japan’s Nikkei and Hong Kong’s Hang Seng were 0.7% and 0.2% lower.

US Market Close: Indices Higher As Market Awaits PCE Data

On Tuesday, the S&P 500 and Dow Jones Industrial Average notched a fresh high as Israel and Hezbollah reached a ceasefire agreement, Bloomberg reported. At close, S&P 500 was up 0.57% at 6,021.63, Dow Jones was 0.28% higher at 44,860.3, and Nasdaq Composite was up 0.63% at 19,175.58.

Investors now await the release of personal consumption expenditures price index due later Wednesday.

GIFT Nifty Trades Below 24,300; Infosys, Zee, LIC, Kotak Bank Share Prices In Focus

At 7:14 a.m., GIFT Nifty traded at 24,259.00, up by 11 points or 0.05%. Share prices of Infosys Ltd., Zee Entertainment Enterprises Ltd., Kotak Mahindra Bank Ltd. are some of the stocks to remain in focus tracking their news flow.

On Tuesday, the NSE Nifty 50 and the BSE Sensex failed to keep up the recovery in a choppy session on Tuesday as the benchmark indices reversed a two–session rally, dragged down by Mahindra & Mahindra Ltd. and Larsen & Toubro Ltd.

The Nifty 50 ended 27.40 points, or 0.11%, down at 24,194.50, and the Sensex closed 105.79 points, or 0.13%, lower at 80,004.06.

Overseas investors remained net buyers of Indian equities for the second consecutive day on Tuesday, while domestic institutional investors remained net sellers for the second straight day.

Foreign portfolio investors net bought stocks worth Rs 1,157.7 crore while the DIIs were net sellers of shares worth Rs 1,910.9 crore, according to provisional data shared by the National Stock Exchange.

The Indian rupee weakened by 6 paise to close at 84.34 against US dollar.

. Read more on Markets by NDTV Profit.Catch the latest on Indian equity markets here. At pre-open. Benchmark equity indices saw a muted start to Wednesday’s session.  Read MoreMarkets, Business, Notifications 

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