Ola Electric Mobility Share Price Falls

Ola Electric Mobility Ltd.’s share price dropped over 4% on Wednesday following a warning issued by the Securities and Exchange Board of India for violating market disclosure norms.

The regulatory body cited the company’s failure to adhere to the timely dissemination of material information to stock exchanges, an issue arising from a December 2024 announcement made by Ola Electric’s Chairman and Managing Director, Bhavish Aggarwal, on social media platform X (formerly Twitter).

On Dec. 2, 2024, Aggarwal announced plans for a four-fold expansion of the company’s store network within the month, in a post at 9:58 a.m. However, no official disclosure was made to the stock exchanges until several hours later, at 1:36 p.m. for BSE and 1:41 p.m. for NSE.

Out of seven analysts tracking the company, five maintain a ‘buy’ rating, and two suggest ‘sell’, according to Bloomberg data. The average 12-month analysts’ consensus price target implies an upside of 26.1%.

Stock Market Live: Midcaps, Smallcaps Fall

Broader markets fared worse than the benchmark indices.

  • The Nifty Midcap 150 is down 1.2% near 20,800.

  • Nifty Smallcap 250 down 1.3% near 17,475.

Stock Market Live: Nifty IT Remains Under Pressure

The Nifty IT index is down 0.6%, a day before Tata Consultancy Services Ltd. releases its third quarter earnings.

Midcaps like Persistant Systems Ltd. and Coforge Ltd. are leading the declines.

TCS down 0.2% while other largecaps Infosys Ltd., LTIMindtree Ltd., Wipro Ltd., Tech Mahindra Ltd. down 1%.

Stock Market Live: Dr. Reddy’s Labs, ONGC Shares Gain; Trent Ltd. And Shriram Finance Slid

Dr. Reddy’s Labs and Oil and Natural Gas Corp. are the top gainers on the Nifty.

Trent Ltd., Shriram Finance Ltd. and Bharat Electronis Ltd. are all down over 2%.

Stock Market Live Updates: Most Sectors Down

On the NSE, all but two of the 12 sectoral indices fell early Wednesday. The Nifty Realty and Nifty Metal led declines. Only Nifty Oil and Gas and Nifty Pharma saw gains.

Stock Market Live Updates: HDFC Bank, Infosys Drag Nifty Down

Decline in shares of HDFC Bank Ltd., Infosys Ltd. and Bharti Airtel Ltd. dragged the Nifty 50 down early Wednesday.

Reliance Industries Ltd. and Dr. Reddy’s Laboratories Ltd. contributed to gains.

Stock Market Live: Nifty Open Flat, Sensex Up

Indian benchmark indices had a muted opening on Wednesday. The Nifty 50 opened 38.75 points or 0.16% higher at 23,746.65. The BSE Sensex began trading at 120.34 points higher or 0.15% at 78,319.45.

Soon after opening, the indices fell 0.2%.

Jefferies’ Top Auto Picks In 2025: Mahindra & Mahindra, Eicher Motors, TVS Motor

Based on the growth prospects outlined, Jefferies remains positive on the Indian auto sector, with a focus on two-wheelers and tractors over passenger vehicles and trucks. The brokerage firm’s preferred buys for 2025 include:

  • Mahindra & Mahindra: Price target at Rs 4,075, with an upside of 28%.

  • Eicher Motors: Price target of Rs 6,600 per share, with an upside of 24%.

  • TVS Motor: Price target at Rs 3,050, with an upside of 23%.

In contrast, companies like Maruti Suzuki and Ashok Leyland Ltd. are viewed more cautiously, with target prices indicating limited upsides.

Read story here.

Stock Market Live: Bharti Airtel Share Price Target By HSBC

HSBC has reiterated its ‘Buy’ rating on Bharti Airtel Ltd., with a target price of Rs 1,940, implying a 22% upside. The brokerage expects Airtel’s dividend to increase by 114% this year and forecasts a fourfold rise in dividend per share over the next three years, reaching Rs 34 by FY27.

HSBC remains optimistic about Airtel’s growth prospects, citing key growth drivers such as rising mobile average revenue per user (ARPU), an expanding home broadband subscriber base, and increasing free cash flow (FCF). These factors are expected to fuel the company’s continued growth and profitability.

Read story here.

Stock Market Live: HDFC Bank Share Price Traget By Macquarie

HDFC Bank will only see a little impact from the intended listing of HDB Financial Services, according to Macquarie, which has maintained an ‘outperform’ rating for the parent lender as it sees a potential for ROA (return on asset) improvement.

The brokerage is positive on HDFC Bank and said it is a buy idea given the potential for ROA improvement driven by margin expansion through improving product mix and a declining credit/deposit ratio; and the potential to deliver relatively lower credit costs given best-in-class underwriting standards. It has a target price of Rs 1,900 for the stock, implying a 10.9% upside.

Read story here.

Yield On The 10-Year Bond Opens Flat

The yield on the 10-year bond opened flat at 6.76%. It closed at 6.75% on Tuesday.

Source: Bloomberg

Rupee Opens Weaker Against Dollar

Rupee opened ten paise weaker at 85.82 against the US dollar. It closed at 85.72 on Tuesday.

Source: Bloomberg

IT Stocks News: Guidance Will Be More Important Than Results, Says Market Analyst

Indian IT companies, that will enter the thirs quarter earnings season Thursday, should not be grouped together, as those with a higher reliance on discretionary spending are likely to face challenges, according to Moshe Katri, the managing director of equity research at Wedbush Securities.

Thr third and fourth quarter are traditionally weaker quarters for the IT sector, so attention will shift more to future guidance rather than just the results themselves. Investors will be keen to hear from management teams on their outlook for the spending environment and any insights into how it could impact performance moving forward, Katri told NDTV Profit.

Rupee Vs Dollar: Check Likely Trading Level

Rupee strengthened 10 paise to end at 85.72 on Tuesday after trading at 85.65-85.79 range intraday.

One-year forward yield ended 6 basis points lower at 2.59%, while three-month At-the-Money-Forward (ATMF) option implied volatility ended 35 bps lower at 3% on a move lower in spot, according to India Forex And Asset Management Pvt.

The rupee is likely to open weaker around 85.80 and trade a 85.72-85.90 range with sideways price action, the firm said.

Stocks In NEWS: CLSA’s Picks In Financial Stocks: ICICI Bank, Bajaj Finance

  • Like ICICI Bank and Bajaj Finance as stable compounders, IndusInd Bank as high-beta player.

  • Credit costs to be higher in first half, should normalise in second half; no large-scale contagion impact.

  • Expect marginal pickup in loan growth at 12-13% in fiscal 2026; less competition from PSU banks.

  • Shallow rate cut cycle good for banks; pricing power may come back in 2025.

Read story here.

Stocks In News: GMR Power

The IREDA approveed Rs 2,128 crore loan for smart meter project in Uttar Pradesh. The company extends corporate guarantee in favour of IREDA for loan of Rs 440 crore each to project SPVs.

Stocks In News: KEC International Order Win

KEC International Ltd. received new orders worth Rs 1,136 crore across various business verticals. The company said year-to-date order intake surged 80% on an annual basis to Rs 20,600 crore.

Stocks Market Live: GAIL India Share Price Target Gets Jefferies’ Upgrade

Jefferies has maintained a ‘Buy’ rating on GAIL India Ltd., with a target price of Rs 235, indicating a potential upside of 26.3%. The brokerage expects GAIL to gain market share in transmission, driven by the commissioning of two major pipelines in fiscal 2026.

A potential rerating of the stock is anticipated if a tariff hike is implemented by March 2025, further boosting the transmission business. The outlook for trading profitability is also positive for 2025, due to tightening demand-supply conditions. Jefferies projects a 9% Ebitda compound annual growth rate for GAIL over FY24-27, reinforcing its constructive stance on the company’s growth trajectory.

Stocks In News: Algoquant Fintech, Camlin Fine Sciences, Jagsonpal Pharmaceuticals Trade Ex-Date Today

  • Ex/Record Date Bonus Issue 1:2: Algoquant Fintech

  • Ex/Record Date Rights Issue: Camlin Fine Sciences

  • Ex/Record Date Stock Split From Rs 5 To Rs 2: Jagsonpal Pharmaceuticals

Stocks Market Live: GIFT Nifty Nears 23,800

The GIFT Nifty was trading near 23,800 early Wednesday. The futures contract based on the benchmark Nifty 50 was up 0.37% or 88 points higher at 23,782 as of 8:23 a.m.

Stocks To Watch: Tata Steel, Mobikwik, Sobha, Akzo Nobel, Berger Paints, RVNL

  • One Mobikwik Systems: The digital payments provider clarified a typographical error in its submission of unaudited financial results for the quarter and half-year ended Sept. 30, 2024.

  • Tata Steel: The company’s production in India grew 6% year-on-year to 5.68 million tonnes on the back of commissioning of the blast furnace of 5 million tonnes per annum at Kalinganagar, Odisha, in September.

  • Sobha: The company reported a 29% year-on-year decline in total sales at Rs 1,388.6 crore. On the other hand, average price realisation rose 16.5% to Rs 1,366 crore against Rs 1,173 crore reported in the same period last year.

  • Signatureglobal (India): The company reported a more than two-fold jump in sales bookings to Rs 2,770 crore on the back of better demand for its housing project in Gurugram.

  • Akzo Nobel, Berger Paints: Both companies have clarified that there is no development to disclose regarding any acquisition of stake. This follows reports suggesting that Berger Paints may be looking to buy Akzo Nobel’s stake.

  • RVNL: The company has signed a MoU with Dubai-based GBH International Contracting LLC to explore business opportunities in the civil infrastructure sector across GCC countries.

  • Mankind Pharma: The company has pledged its remaining 56.31% stake in its arm, Bharat Serums, in favor of Catalyst Trusteeship.

  • Tata Technologies: The company has signed a MoU with Telechips to innovate solutions for next-generation software-defined vehicles.

  • Mahindra & Mahindra: The company has announced the pricing for the top-end variants of its upcoming electric sports utility vehicles, with an aim to clock sales of 5,000 units per month from the get-go.

  • Exicom Tele-Systems: The company has signed a Memorandum of Understanding with Mufin Green Infra to develop EV charging infrastructure.

Stocks Market Live: Kalyan Jewellers Share Price Target For Citi

Citi has maintained its ‘Buy’ rating on Kalyan Jewellers Ltd., setting a target price of Rs 810, implying a 9% upside.

The company’s India business posted a strong 41% year-on-year revenue growth, driven by a 24% same-store growth (SSG). The implied revenue growth was approximately 34% YoY, reflecting robust demand.

Kalyan Jewellers also showcased strong momentum in its store expansion efforts across India, with franchise store openings exceeding Citi’s expectations.

The brokerage believes that continued store expansion, along with the deleveraging of the balance sheet, will position the company for sustained growth in the future.

Motilal Oswal On India Strategy

Motital Oswal Financial Services remains optimistic about India’s growth story in the medium to long run. It remains biased towards large-caps with a 76% allocation.

Sectoral View:

  • Overweight: BFSI, IT, Industrials, Healthcare, Real Estate

  • Underweight: Oil & Gas, Cement, Automobiles, and Metals

  • Key Changes in Model portfolio:

Financials:

  • Trim weightage of HDFC bank,

  • Add BSE: expect the market share to improve

  • Add Shriram finance: To capitalize on its diversified AUM mix, enhanced cross-selling opportunities

Technology:

  • Replace Persistent with LTIMindtree after its sharp performance

  • LTIMindtree’s presence in the BFSI and Hi-tech verticals to support growth

  • BFSI, HI tech expected to rebound in the near term

Consumption:

  • Add Trent: expect it to continue its significant outperformance

  • Add: Page Industries: benign input costs likely to lead to a better margin print

Automobiles:

  • Reiterate preferred Ideas: M&M, TVS Motors

Industrials:

  • Maintain allocation towards L&T, ABB, and Dixon Technologies.

Healthcare:

  • Reintroduce Sun Pharma: has multiple sustainable growth levers

  • Add IPCA: well-poised to revive its US business through new product launches

Utility:

  • Add: JSW Energy: Expect spike in installed capacity to over 14GW by FY27

Real estate:

  • Add Anant Raj: Strong pre sales, collections, and operational cash flows underpin growth

Stocks In News: Dr Reddy’s Lab Share Price Target Upgrade From Nuvama

Nuvama has upgraded Dr. Reddy’s Laboratories Ltd. to a ‘Buy’ rating from ‘Reduce’, with a target price of Rs 1,553, signaling a potential upside of 14.8%.

The upgrade comes as the company prepares for the loss of exclusivity on Revlimid, which currently contributes around 40% to its fiscal 2024 Ebitda. Dr. Reddy’s management has mapped out strategies to offset the revenue decline, including a reduction in R&D spending by fiscal 2027, which will help soften the impact on Ebitda.

Additionally, key asset launches are expected to fully counterbalance the revenue and 80% Ebitda loss from the Revlimid patent expiry. Nuvama has raised its fiscal 2027 earnings estimates by 15%, valuing the stock at 24 times the projected three year earnings.

Read story here.

Key Global Events Today

  • Eurozone PPI, consumer confidence, Wednesday

  • US ADP employment, Fed minutes, consumer credit, Wednesday

  • Fed’s Christopher Waller speaks, Wednesday

Source: Bloomberg

IPO News: Standard Glass Lining Technology’s Last Day, Quadrant Future Tek’s Day Two

  • Standard Glass Lining Technology: The public issue was subscribed to 34.8x times on day two. The bids were led by non-institutional investors (78.1 times), retail investors (32.8 times) and qualified institutional investors (4.7 times).

  • Quadrant Future Tek: The public issue was subscribed to 15.8x times on day one. The bids were led by retail investors (54.6 times), non-institutional investors (21.5 times) and qualified institutional investors (0.05 times).

Asian Stocks Trade Higher

  • Japan’s Nikkei 225 is down 0.39%.

  • South Korea’s Kospi up 1.20%.

  • Australia’s S&P/ASX 200 up 0.64%.

Commodity Check: Oil And Gold Prices Trade Higher

  • Brent crude was trading 0.16% higher at $77.31 a barrel.

  • Gold spot prices are flat at $2,648.18 an ounce.

US Market Update: S&P 500, Dow Jones Down

US equities came under pressure after a selloff in the bond market deepened on speculation the Federal Reserve won’t cut interest rates before July amid inflation risks. A selloff in big tech weighed heavily, with the S&P 500 down over 1% and the Nasdaq falling 1.89%. Dow Jones ended 0.42% lower.

In the futures segment, contracts for S&P 500 is up 0.23% and Dow Jones up 0.17% as of 7:40 a.m. India time.

Read story here.

Stock Market News Live: GIFT Nifty Above 23,700

The GIFT Nifty was trading above 23,700 early Wednesday. The futures contract based on the benchmark Nifty 50 was up 0.32% or 75 points higher at 23,769 as of 7:27 a.m.

The benchmark equity indices reversed two sessions of decline to close higher on Tuesday, helped by a broad-based rally led by oil and gas, and financials.

The NSE Nifty 50 ended 91.85 points or 0.39% higher at 23,707.9, and the BSE Sensex advanced 234.12 points or 0.3% to close at 78,199.11.

. Read more on Markets by NDTV Profit.The Nifty 50 opened 38.75 points or 0.16% higher and the BSE Sensex began trading at 120.34 points higher or 0.15%.  Read MoreMarkets, Business, Notifications 

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