Indraprastha Gas Share Price Rises As Board To Meet To Consider Bonus Issue
Indraprastha Gas Ltd. share price rose as the board of directors is scheduled to meet to consider bonus share issuance on Dec 10. The board will decide ratio in which it will issue shares to equity shareholders, the company said in an exchange filing on Wednesday.
Share Market News: Adani Energy Gets LoI From REC
Adani Energy has got a letter of intent from REC for 20 GW Power evacuation project In Rajasthan. It is subject to certain conditions and binding agreements, an exchange filing said.
Indus Towers Share Price Jumps As Citi Predicts Strong Dividend Yield Post-Vodafone’s Exit
Indus Towers Ltd.’s share price surged nearly 5% after Citi Research forecasted a dividend yield for the telecommunications infrastructure company, following Vodafone Group’s exit from its stake in it.
CLSA Maintains ‘Outperform’ For PVR Inox, Zee Despite Challenging Advertising Environment—Here’s Why
The media sector in India continues to face a challenging advertising environment, but CLSA’s latest report highlights several stocks that are poised for recovery, with PVR Inox, Zee Entertainment, and DB Corp emerging as key players.
KIOCL Share Price Surges As Mangalore Pellet Plant Unit Resumes Operation
The company informed exchanges that the Pellet Plant Unit of the Company situated at Mangalore has resumed its operation.
Share Market Updates: Borosil Renewables Rises 7%
Share price of Borosil Renewables surged more than 7% to hit its highest since August 29 after news of the government initiating anti-dumping duties on textured tempered glass imports from Malaysia.
Stock Market Updates: India VIX Rises Over 5%
India’s volatility index surged more than 5% in its gains for a second consecutive session as benchmarks slipped into losses.
Five Stocks To Buy Today: Data Patterns, IREDA, CDSL, LT Foods, Zomato
Analysts have big names on their radar today, including Data Patterns (India) Ltd., Indian Renewable Energy Development Agency Ltd., Central Depository Services (India) Ltd., LT Foods Ltd., and Zomato Ltd. Some of these stocks have delivered over 244% returns in the last year.
Amit Goel, the founder of Amit Ventures, Sudeep Shah, deputy vice-president and head of tech and derivatives research at SBICAP Securities Ltd., and Brijesh Singh, senior technical analyst at Opulent Investment Advisers Pvt. share their stock calls for today.
NDTV Profit Exclusive: Rekha Jhunjhunwala-Backed IKS Health Faces Oppression, Mismanagement Allegations
IPO-bound IKS Health, a healthcare solutions provider backed by prominent investor Rekha Jhunjhunwala, faces allegations of oppression and mismanagement, as per people in the know and a court filing. The allegations stem from a petition filed by two minority shareholders at the National Company Law Tribunal in Mumbai.
What’s Driving Niva Bupa Health Insurance Share Price Surge?
There is a lot riding on the expectation of reduced Goods and Services Tax on life and health insurance premiums, which today attract 18% rate. But that is just one of the factors that is influencing the share price of Niva Bupa Health Insurance Ltd., which listed on the stock markets on Nov. 14. The stock has run-up over 30% this week, triggered by reports of GST tax rate reduction.
Stock Market Updates: Adani Bond Portfolio’s Liquidity Stable, Short-Term Papers Attractive, Says JPMorgan
Billionaire Gautam Adani’s group companies liquidity seems stable after accounting for near-term maturities for offshore debt, JPMorgan said, adding that Adani Green Energy Ltd.’s bond issue will be in focus.
Share Market News: Vodafone, Indus Towers Rise Over 4%
Shares of Vodafone and Indus Tower rose more than 4%. UK’s Vodafone Group Plc will divest its entire 3% stake in Indus Towers Ltd. via open market deals, the company announced on Wednesday. The British telecom operator will offload 7.9 crore shares that are held by its local affiliates Omega Telecom Holdings Pvt. and Usha Martin Telematics Ltd.
Stock Market Live: Nifty IT Hits All-Time High
Nifty IT advanced for a fifth consecutive session Thursday to hit a fresh record high of 44,388 points with all its constituents trading with gains.
Nifty, Sensex Open Higher As IT Stocks, RIL Lead Gains: Opening Bell
Benchmark equity indices opened higher Thursday tracking positive sentiment from the Wall Street with shares of IT companies and Reliance Industries contributing the most.
At pre-open, Nifty was at 24539.15, up 0.29% or 71.70 points and Sensex was at 81183.70, up 0.28% or 227.37 points.
“The 50-day moving average is currently positioned near 24,625, which represents a crucial resistance level,” said Ameya Ranadive, senior technical analyst at StoxBox. “A decisive breach above this threshold could indicate the beginning of a sustainable uptrend.”
Nevertheless he added that market participants should remain vigilant for ongoing volatility if the Nifty stays below this level
Share price of Infosys Ltd., Reliance Industries Ltd., Tata Consultancy Services Ltd., Bharti Airtel Ltd., and ICICI Bank Ltd. contributed the most to the gains.
While those of Power Grid Corp. Of India, Larsen & Toubro Ltd., HDFC Bank Ltd., NTPC Ltd., and Oil & Natural Gas Corp. Ltd. minimised the upside.
Most sectoral indices were higher with Nifty IT leading.
Morgan Stanley Maintains ‘Underweight’ On Hero
Morgan Stanley has maintained its ‘underweight’ rating on Hero MotoCorp. with target of Rs 4,110, implying downside of 11% as company launches electric scooter, Vida V2 across segments and sustained market share gains are key to re-rating.
Nifty, Sensex Higher At Pre-Open
At pre-open, Nifty was at 24539.15, up 0.29% or 71.70 points and Sensex was at 81183.70, up 0.28% or 227.37 points.
Yield On The 10-Year Bond Opens Flat
-The yield on the 10-year bond opened flat at 6.68%.
-It closed at 6.68% on Wednesday.
Source: Bloomberg
Rupee Opens Flat Against US Dollar
-Rupee opened flat at 84.74 against the US dollar.
-It closed at 84.73 on Wednesday.
Source: Bloomberg
Bernstein On Zomato Vs Swiggy
Bernstein has rated ‘outperform’ with target of Rs. 335, implying 20% upside and said the company has a a wider city presence than Swiggy. It has deeper penetration in Tier2+ cities triving higher monthly transacting users while Swiggy has higher frequency of users. Blinkit has 1.5 times higher monthly transacting users than instamart, it said.
Citi On Indus Towers
Citi has opened 90-day positive catalyst watch on Indus Towers with a target of Rs 485, implying 35% upside as Vodafone plans to sell balance 3% stake on Indus Towers for Rs 27-28 billion and expects Rs 19-20 billion to be infused by Vodafone PLC into Vodafone Idea for clearing past dues of Indus. The brokerage said, Indus could declare a dividend of Rs 7 per share due to Vi repayments and dividend could be 6% in FY26-27 making it compelling investment proposition.
Crypto Update: Bitcoin Crosses $100,000 Mark For First Time
At 8:34 a.m., Bitcoin traded more than 0.3% higher at $102,235.00. This came after Donald Trump said he plans to nominate Paul Atkins as SEC chair.
Oil Price Update: Crude Oil Flat Ahead Of OPEC+ Decision
At 8:27 a.m., February futures contract of Brent Crude was 0.06% higher at $72.35 a barrel and January futures contract of WTI Crude was 0.1% higher at $68.62 a barrel. Market participants expect OPEC+ to extend supply cuts in its meeting to be held later Thursday.
Asia Market Open: Indices Mixed; Hang Seng Down 1%
Asia-pacific indices were mixed in the early trade. At 8:00 a.m., Hong Kong’s Hang Seng fell over 1%, South Korea’s Kospi by 0.2%, and China’s CSI 300 was 0.4% lower. While Japan’s Nikkei and Australia’s ASX 200 added 0.6% and 0.2% respectively.
US Market Close: Indices Record Highest Closing
Three benchmark indices in the US hit fresh record highs after the Federal Reserve Chair Jerome Powell said the economy is stronger than what the central bank expected in September. Dow Jones advanced 308.51 points, or 0.69%, to 45,014.04, S&P 500 gained 0.61% to close at 6086.49, while Nasdaq Composite advanced 1.3% to close at 19,735.12.
GIFT Nifty Trades Above 24,500; Vodafone, Hero MotoCorp, Indus Towers In Focus
The GIFT Nifty was trading 0.04%, or 11 points, higher at 24,515.00 as of 7:31 a.m. Among others, share prices of Vodafone Idea Ltd., Hero MotoCorp Ltd., Indus Towers Ltd. will remain in focus tracking news flow.
On Wednesday, the NSE Nifty 50 and the BSE Sensex closed higher for the fourth consecutive session on Wednesday, clocking their best winning streak in months.
The Nifty 50 ended 10.30 points, or 0.04%, higher at 24,467.45, and the Sensex closed 110.58 points, or 0.14%, up at 80,956.33. In the last four sessions, the indices gained 1.39% and 1.45%, respectively.
During the day, the Nifty 50 rose 0.47% to 24,573.20, and the Sensex advanced 0.49% to 81,245.39. The Sensex reclaimed the 81,000 mark for the first time in 29 sessions since Oct 21.
Overseas investors stayed net buyers of Indian equities for the second consecutive session on Wednesday, while domestic institutional investors stayed net sellers for a second day.
Foreign portfolio investors mopped up stocks worth Rs 1,797.60 crore, and the domestic institutional investors sold shares worth Rs 900.62 crore, according to provisional data shared by the NSE.
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