Updated – September 12, 2023 at 04:33 PM.
Sensex, Nifty updates on 12 September 2023 – The BSE Sensex extended its rally for the eighth day running on Tuesday, while Nifty ended marginally lower after scaling its fresh all-time high level amid mixed global market trends. The 30-share BSE Sensex climbed 94.05 points or 0.14 per cent to settle at 67,221.13. During the day, it jumped 412.02 points or 0.61 per cent to 67,539.10. The Nifty, however, pared all its gains and ended marginally lower by 3.15 points or 0.02 per cent at 19,993.20 in a volatile trade. During the day, it climbed 114 points or 0.57 per cent to hit its all-time high of 20,110.35.
tock Market | Share Market Updates – Find here all the updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for 12 September 2023.
ALL UPDATES
- September 12, 2023 16:28
Sensex extends rally to 8th day; Nifty falls marginally after hitting record level
The BSE Sensex extended its rally for the eighth day running on Tuesday, while Nifty ended marginally lower after scaling its fresh all-time high level amid mixed global market trends.
The BSE Sensex climbed 94.05 points or 0.14 per cent to settle at 67,221.13. During the day, it jumped 412.02 points or 0.61 per cent to 67,539.10.
The Nifty, however, pared all its gains and ended marginally lower by 3.15 points or 0.02 per cent at 19,993.20 in a volatile trade. During the day, it climbed 114 points or 0.57 per cent to hit its all-time high of 20,110.35.
Among the Sensex firms, Tata Consultancy Services, Larsen & Toubro, Infosys, UltraTech Cement, ICICI Bank, Nestle, ITC and Sun Pharma were the major gainers.
Power Grid, NTPC, Tata Motors, Tata Steel, Mahindra & Mahindra and Reliance Industries were among the laggards.
- September 12, 2023 16:26
Rupee rises but near-term gains will be capped, traders say
The rupee strengthened on Tuesday but near-term appreciation will be limited as most market participants are long on the U.S. dollar, traders said.
The rupee ended at 82.9225 against the dollar, up 0.13 per cent as compared to its close of 83.03 on Monday.
Dollar demand from importers, oil companies, and speculators had pushed the rupee to the day’s low of 83.01, traders said.
- September 12, 2023 15:54
EMS Ltd IPO subscribed 73.16 times, closes today
EMS Ltd IPO has been subscribed 73.16 times as of 3:33 pm on September 12, 2023. The QIB portion has been subscribed 133.38 times, NII portion 81.74 times, and retail 28.62 times. The issue closes today.
- September 12, 2023 15:52
NIFTY-50 Outlook signals bullish momentum: Vikas Jain
Vikas Jain, Senior Research Analyst at Reliance Securities
NIFTY 50 Outlook
NIFTY 50 formed a strong bullish candle on the weekly charts with positive momentum for six consecutive days, closing near its all-time high. It needs to hold above 19,750 for an upward move towards all-time high levels, with the round number of 20,000 acting as resistance. The key technical indicators remain bullish on the daily timeframe chart, and the revised trend reversal level is set at 19,500. The highest call open interest (OI) has shifted to the 20,000 strike, while on the downside, the highest put OI is at 19,600 for the weekly expiry.
BANK NIFTY has closed at a one-month high, and we remain constructive on the sector with a potential target of 46,500 levels over the next few weeks. The RSI is inching upwards towards the higher band, and other key technical indicators remain in bullish momentum. The congestion breakout would act as strong support now at 45,800-46,000 levels over the next few days. The highest call OI is at the 46,500 strike, while on the downside, the highest put OI is at 45,000 for the weekly expiry.
- September 12, 2023 15:35
Infosys announces strategic multi-year collaboration with STARK Group
Infosys has announced a strategic multi-year collaboration with STARK Group, Europe’s largest retailer and distributor of building materials, to power its digital transformation journey leveraging the recently launched Infosys Topaz, an AI-first set of services, solutions and platforms using generative AI technologies.
The stock traded at ₹1,501. up by 1.66% on the NSE.
- September 12, 2023 15:32
FCS Software Solutions CFO Anil Kumar Sharma resigns
Anil Kumar Sharma resigned as Chief Financial Officer (CFO) of FCS Software Solutions Ltd. The company’s stock trades at ₹2.65 on the NSE, down by 10.17%,
- September 12, 2023 15:30
ITCONS E-solutions secures $3,55,118 order from Singapore’s Netpoleon
ITCONS E-solutions Ltd has received purchase order from Netpoleon Solutions Pte Ltd, Singapore amounting to $3,55,118. The stock tumbles by 5.48% on the BSE, trading at ₹50.
- September 12, 2023 15:09
Stock market live updates: Datamatics has announced the availability of TruCap + IDP in the Microsoft Azure Marketplace.
The stock falls by 5.27% on the NSE, trading at ₹555.
- September 12, 2023 15:08
Stock market live updates: Top gainers, top losers at this hour
Major gainers on the NSE at 3pm:
TCS (3.07%); Infosys (1.79%); LT (1.79%); Divi’s Lab (1.32%); Ultratech Cement (1.36%)
Major losers:
BPCL (-4.26%); Power Grid (-3.40%); Adani Enterprises (-2.78%); NTPC (-2.61%); Adani Ports (-2.61%)
- September 12, 2023 15:07
Stocks in news: Happiest Minds Technologies Ltd announced that its work for DoubleVerify has been recognised by ISG as a Standout in the 2022 Digital Case Study Awards.
The stock falls by 2.02% on the NSE, trading at ₹936.35.
- September 12, 2023 15:05
Stock market live updates: Stocks advanced/declined on BSE
Stocks advanced on BSE at 3 pm on September 12 were 719 against 2,946 stocks that declined. Total stocks traded were 3,784. The number of stocks that recorded a 52-week high was 261, and those that hit a 52-week low was 19.
- September 12, 2023 14:50
HAL: Centre extends tenure of CB Ananthakrishnan as Chairman & MD (additional charge)
Ananthakrishnan is the Director (Finance) of the company. Hindustan Aeronautics Ltdstock declines by 3% on the NSE, trading at ₹3,960.40.
- September 12, 2023 14:47
Stock market live updates: Zomato stock falls by 3.95% on the NSE, trading at ₹97.35.
- September 12, 2023 14:32
Stocks market live updates
Apex Group Ltd, a global financial services provider, today announced its appointment by The Investment Trust of India Limited to provide Fund Administration services to the ITI Long Short Equity Offshore Fund in India’s Gujarat International Finance Tec-City International Financial Centre.
- September 12, 2023 14:30
Axiscades Technologies has announced a strategic partnership with Cantier, a Singapore-based powerhouse in Manufacturing Execution Systems (MES), with a specialisation in Industry 4.0 integration.
The stock falls by 4.41% on the NSE, trading at ₹550.
- September 12, 2023 14:21
Stock market live updates: TCS stock rises by 2.90% on the NSE, trading at ₹3,581.75, following its association with Dassault Systems through its Living Heart Project.
- September 12, 2023 14:05
Stock market live updates: The stock of Shyam Metalics and Energy declines by 2.69% on the NSE, trading at ₹439.10.
- September 12, 2023 14:04
Stock market live updates: Top gainers, top losers at this hour
Major gainers on the BSE at 2 pm:
NIIT (18.47%)
ITI (13.55%)
Elgi Equipments (5.34%)
Apcotex (3.81%)
JB Chemicals Pharmaceuticals (3.66%)
Major losers:
Texmaco Rail Engineering (-13.44%)
Jindal Saw (-10.71%)
JP Power (-9.90%)
HCC (-9.90%)
BEML (-9.77%)
- September 12, 2023 14:03
Stocks in news: ARIIL secures redevelopment project in Borivali worth ₹330 crore
Ajmera Realty and Infra India Limited (ARIIL) achieved their 5x growth goal by undertaking the redevelopment project at Yogi Nagar, a location in Borivali West, Mumbai. This redevelopment project involves four societies within the township and is expected to yield sales of approximately Rs. 330 crore.
The shares were down by 4% per cent to Rs 371.95 on the NSE. Read more.
- September 12, 2023 14:01
IPO news: EMS Ltd IPO has been subscribed 32.87 times as of 1:54 pm on September 12, 2023.
The QIB portion has been subscribed 26.19 times, NII portion 60.19 times, and retail 24.80 times. The issue closes today.
- September 12, 2023 14:00
IPO news: Yatra Online Limited’s initial public offering to open on Friday, September 15, 2023. The company has set price band at ₹135-₹142 per equity share.
At the upper price band, the issue size is at Rs 775 crore.
- September 12, 2023 13:59
Stocks market live updates: Top losers among Nifty PSU Bank stocks
Punjab and Sind Bank (-6.80%)
Bank of Maharashtra (-6.32%)
UCO Bank (-6.14%)
Central Bank of India (-5.17%)
IOB (-4.45%)
- September 12, 2023 13:43
Stock market live updates: Hindalco ties up with Italian co. Metra for extrusion tech
Hindalco Industries, the world’s largest aluminium rolling and recycling company, has signed a technology partnership with Italy-based Metra SpA known for producing structured and value-added aluminium extrusions.
The partnership aims to enable production of large-size aluminium extrusion and fabrication technology for building high-speed aluminium rail coaches in India.
The tie-up provides Hindalco the launching pad to drive upgradation programme of Indian Railways.
The share lost 1.42% to trade at Rs 477.95 on NSE. Read more.
- September 12, 2023 13:33
Stock market live updates: LIC cuts stake in Dr Reddy’s Labs
The shares of Life Insurance Corporation of India in Dr Reddy’s Laboratories has diluted from 9.681% to 7.628% of the paid-up capital of the said company.
LICI stock declines by 2.52% on the NSE, trading at ₹661.95. Meanwhile, Dr Reddy’s Laboratories stock inches up by 0.95% on the NSE, trading at ₹5,667.20.
- September 12, 2023 13:29
Shalimar Paints Ltd informed the exchange that Davinder Dogra will resign from the post of Chief Financial Officer, effective close of business hours of September 30, 2023.
The stock trades at ₹157.50 on the BSE, down by 1.50%.
- September 12, 2023 13:27
TVS Motor Company has launched its premium TVS iQube Electric Scooter in Nepal.
The company’s stock declines by 1.07% on the NSE, trading at ₹1,473.
- September 12, 2023 13:20
Stocks in focus: Shares of Vodafone Idea are down by 6 per cent, trading at ₹10.60.
Post 30 per cent upside in the last one month, Vodafone Idea is now amongst the most expensive telecom stocks globally trading at 15 times one year forward EV/EBITDA. Peer Bharti Airtel trades at around 9 times
- September 12, 2023 13:19
Stock market live updates: Bharat Electronics Ltd has 10.2 lakh shares change hands in a large trade.
BEL stock tumbles by 6.57% on the NSE, trading at ₹135.20.
- September 12, 2023 13:19
Buzzing stocks: Sundaram Finance stock jumps 8.08% on the NSE, trading at ₹2,874.05.
- September 12, 2023 13:13
Stocks to watch today: Angel One Ltd rejigs businesses
In pursuit of solidifying its role as a dominant force in the constantly evolving Fintech sector, Angel One Ltd. (formerly Angel Broking Ltd.) has undertaken a business restructuring initiative, per the company.
As part of this reorganisation, the company’s business from assisted channel will be consolidated under Angel Securities Limited, while that from the direct channel will be housed under Angel Crest Limited. Angel One has enriched its leadership team with the onboarding of Nishant Jain as the Chief Business Officer overseeing the assisted channels.
Nishant will lead efforts to form synergistic partnerships with key stakeholders, concurrently elevating business performance through strategic expansion of the assisted channel. Nishant, an alumnus of IIM-B with a remarkable two-decade career, boasts an impressive track record of driving growth of Indian startups such as BharatPe and Zomato. Additionally, he has occupied senior leadership positions at the multinational FMCG giant, Coca-Cola.
The stock lost 3.86% to trade at Rs 1,807.85 on NSE.
- September 12, 2023 13:10
Maagh Advertising and Marketing Services Limited has received in-principle approval from BSE Ltd. for the issue and allotment of 1,47,21,000 equity shares on preferential basis.
The stock is up by 4.97% on the BSE, trading at ₹29.76.
- September 12, 2023 13:09
Stocks to watch today: Five-Star Business Finance
The board of Five-Star Business Finance has allotted 2,78,560 Equity shares of ₹1 each, pursuant to exercise of stock options under Five-Star Associate Stock Option Scheme, 2018 and Five-Star Associate Stock Options Scheme 2015. The stock falls by 2.39% on the NSE, trading at ₹709.80.
- September 12, 2023 13:00
DevX to set up Deakin University’s India campus in GIFT City
DevX, Gujarat’s largest Managed Office Space provider, today announced that it will be setting up Deakin University’s India campus in GIFT City. Having partnered with Nila Infrastructure for the construction, DevX will conceptualise, design, build and deliver the state-of-the-art 25,000 Sq. Ft. University campus. JLL India facilitated the transaction for Deakin University and empowered their decision-making process by providing detailed secondary research in addition to their first-hand experience of transacting in GIFT City, in the past.
- September 12, 2023 12:58
Evaluate decisions through the ‘investing’ lens: Waterfield Advisors
Shantanu Bhargava, Managing Director, Head of Discretionary Investment Services, Waterfield Advisors: ‘In times like these, as an investor, one must take a step back and evaluate their intended decisions through the lens of “investing” versus “speculating”. Never speculate with core capital. Recognising speculation from investment can be crucial to investing success in these situations. Finally, all performance-chasing – selling a fund that has trailed over the last three years to pick up one that has outperformed – is speculating rather than investing. It’s time to be disciplined and stick to your plan.”
- September 12, 2023 12:56
Stock market Live updates: CIL plans ₹24,750-crore capital investment on 61 First Mile Connectivity projects
Coal India Ltd (CIL) has planned a ₹24,750-crore capital investment on 61 First Mile Connectivity (FMC) projects, are to come up in three phases, which will have a combined capacity of 763.5 million tonnes per annum (MTPA) when completed.
The stock declined by 1.81 per cent on the NSE, trading at ₹273.90
- September 12, 2023 12:52
Stock market Live updates: Frontline stocks remain attractive, says Emkay Global
Mr Jaykrishna Gandhi, Head – Business Development, Institutional Equities, Emkay Global Financial Services: “The markets yesterday touched new highs, crossing 20,000. This was driven by continued liquidity in the markets, with improved commentary on Capex, which can drive earnings visibility beyond FY24. Frontline stocks remain attractive, we can see some correction in Mid and Small caps, which have materially outperformed the frontline indices, which has resulted in an above average PE expansion”.
- September 12, 2023 12:48
Share market Live updates: Spices complex mixed
The spices complex was mixed on Tuesday with turmeric contracts losing their lustre. On NCDEX, dhaniya (coriander) October futures were up marginally by ₹2 at ₹7,240 a quintal. Jeera (cumin) October contracts increased by ₹325 to ₹62,830 a quintal. Turmeric October futures dropped by ₹218 to ₹13,902 a quintal. On MCX, mentha oil October contracts were up by ₹2.60 at ₹959.50 a kg.
- September 12, 2023 12:47
Stock market Live update: Hindalco Industries technology tie-up with Metra SpA
Hindalco Industries has signed a technology partnership with Italy-based Metra SpA renowned for production of structured and value-added aluminium extrusions.
The partnership would produce large-size aluminium extrusion and fabrication technology for building high-speed aluminium rail coaches in India.
Combining Hindalco’s vast experience in aluminium manufacture and Metra’s knowhow in aluminium extrusion, machining and welding, the collaboration marks a pivotal move to bring world class technology – currently limited to Europe, China, Japan and a few other countries – to India.
- September 12, 2023 12:43
Stock market Live updates: Domestic equity funds could continue to support markets in the near term: Goldman Sachs
Goldman Sachs forecasts domestic equity funds, sitting on high cash levels, could continue to support markets in the near term. Flows in domestic funds rose to a 5-month high in August; Small and Midcap funds continue to see strong inflows; SIP flows hit fresh highs”.
- September 12, 2023 12:37
Stock market Live updates: Vodafone Idea stock tumbles 7.08% on NSE, trading at ₹10.5
- September 12, 2023 12:37
Equity market Live updates: Gold October futures lower by ₹60 at ₹58,870 per 10 gm on MCX
On MCX, gold October futures were lower by ₹60 at ₹58,870 per 10 gm. Silver December contracts dropped by ₹127 to ₹71,815 a kg.
- September 12, 2023 12:36
Stock market Live updates: Gold subdued in Asian trade
In Asian trade, gold was subdued around $1,920 an ounce on Tuesday. Traders are awaiting US inflation data that could provide an indication of further rate hikes by the US Fed. At 12.30 hours IST, gold was quoted at $1,919.89 an ounce. Silver hovered around $23 an ounce. It was last ruling at $23.015.
- September 12, 2023 12:34
Stock market live updates: EMS IPO subscribed 22.29 times
EMS Ltd IPO has been subscribed 22.29 times as of 12:21 PM on September 12. The QIB portion has been subscribed 2.71 times, NII portion 47.20 times, and retail 22.31 times. The issue closes today.
- September 12, 2023 12:28
Party has ended for oil marketers as high oil prices squeeze margins, say analysts
Oil marketing companies find themselves in a spot as oil prices have trended higher over the past few weeks, with little prospect for raising retail prices in the medium term, at least until the general elections next year.
Higher oil prices and higher cracks, which have led to under-recovery, point to a tough second half of FY24 for them.
In the week to September 10, refining benchmarks have declined 15 per cent to $10.3 a barrel, accompanied by a modest increase in marketing margins; however, margins have decreased sharply in the current quarter to date, Nomura said in a note on the sector. Read more.
- September 12, 2023 12:27
Stock market live updates: Top losers of Nifty Oil & Gas stocks at this hour
Castrol India (-4.74%)
Petronet LNG (-4.26%)
GAIL (-4.16%)
Hindustan Petroleum (-4.06%)
IOC (-3.20%)
- September 12, 2023 12:26
Stock market live updates: Chennai based integrated facilities management company Updater Services Ltd (UDS) gets SEBI approval to float IPO
UDS intends to generate capital through its IPO, which consists of a fresh issuance of equity shares, amounting to ₹400 crore, and an Offer For Sale (OFS) involving up to 1.0880 crore equity shares.
UDS is a prominent and specialised business services platform operating across India, delivering integrated facilities management services and a range of other services. Over the years, it has expanded its service portfolio to meet the diverse needs of customers across various sectors, including FMCG, manufacturing, engineering, BFSI, healthcare, IT/ITeS, automobiles, logistics and warehousing, airports, ports, infrastructure, and retail, among others.
- September 12, 2023 12:23
Large deal update: Bank of India’s 20.6 lakh shares changed hands. The stock lost 0.15% to trade at Rs 98.65 on NSE.
- September 12, 2023 12:22
Battery stocks are in focus as the Centre expects that local manufacturing of advanced battery cells will begin by year end or January 2024
- September 12, 2023 12:21
Stock market live updates: TCS at highest levels since July as prices pierced 3504.0 levels
- September 12, 2023 12:20
Global Offshore Services Ltd informed the exchange that its step down subsidiary viz. Makalu Shipping B.V. sold its Vessel M.V. Makalu for a consideration of $9.30 million.
The stock lost 1.9% to trade at Rs 38.30 on BSE.
- September 12, 2023 12:17
SpiceJet to fulfill commitments to Kal Airways and Credit Suisse, shares dip
SpiceJet Ltd.’s shares were down by 4.48 per cent even as the company made a payment of Rs. 77.5 crore to Kal Airways Private Limited. Further, the company is set to complete the total payment of Rs. 100 crore today, adhering to the directives of the Hon’ble Delhi High Court.
The shares were down by 6.15 per cent to Rs 37.54 on the BSE.
- September 12, 2023 12:09
Stocks to watch today: Hindalco trades at ₹480.25, down by 0.95% on the NSE.
Hindalco has signed a technology partnership with Italy-based Metra SpA. The partnership aims to enable the production of large-size aluminium extrusion and fabrication technology for building high-speed aluminium rail coaches in India.
- September 12, 2023 12:08
Stock market live updates: Top gainers, top losers at this hour
Major gainers on the NSE at 12 noon:
LT (3.06%); TCS (2.39%); Grasim (2.13%); Infosys (1.48%); Divi’s Lab (1.32%)
Major losers:
BPCL (-2.79%); Power Grid (-2.60%); M&M (-2.41%); Adani Enterprises (-2.25%); Tata Motors (-2.13%)
- September 12, 2023 12:05
Stock market live updates: Stocks advanced/declined on BSE
Stocks advanced on BSE at 12:03 pm on September 12 were 845 against 2,685 stocks that declined. Total stocks traded were 3,676. The number of stocks that recorded a 52-week high was 246, and those that hit a 52-week low was 14.
- September 12, 2023 12:01
EXCLUSIVE: Shree Renuka Sugars has nearly finalised a deal to buy Anamika Sugar Mills, a standalone factory in Bulandshahr, UP at about Rs 200 crore.
Shree Renuka Sugars, India’s largest refinery promoted by Singapore-based Wilmar Sugar Holdings with over 62 per cent share, has nearly finalised a deal to buy Anamika Sugar Mills, a standalone factory in Bulandshahr, Uttar Pradesh at about Rs 200 crore.
While Shree Renuka Sugars officials were not immediately available for comment, an email seeking confirmation of the deal to Ashok Agarwal, a director at Anamika Sugar Mills, was not replied to.
The share lost over 4% to trade at Rs 52.30 on NSE.
- September 12, 2023 11:54
Stocks in focus: Dilip Buildcon stock falls by 5.15% on the NSE, trading at ₹311.
The company recently executed the agreement with the Water Resources Department Madhya Pradesh, Bhopal, contract worth ₹1275.30 crore, through its joint venture.
- September 12, 2023 11:51
Ajmera Realty & Infra India Limited (ARIIL) has secured redevelopment project for 4 societies at Yogi Nagar in Borivali; aims sales of ₹330 crore.
The stock slides down by 0.14% on the NSE, trading at ₹387.05.
- September 12, 2023 11:50
BofA September Global Fund Manager Survey
- Investor sentiment no longer extreme bearish (17-month high in global equity allocation), but not yet bullish (FMS cash level up to 4.9%)
- More dramatic shift in relative exposure: record jump in US, record fall in EM equities as China growth optimism slumps back to “lockdown lows”
- BofA Bull & Bull Indicator up to 4.1.
- September 12, 2023 11:45
Stock market live updates: Gravita India Ltd has been elevated as a ‘Four-star export house’ by the Directorate-General of Foreign Trade, Ministry of Commerce and Industry.
This upgraded status will afford Gravita India benefits, including streamlined business operations, simplified export licensing procedures, relaxed business norms, and other export-related advantages. It will also give it greater recognition within the category of export houses.
However, the shares were down by 2.41 per cent at Rs 777.10 on the BSE. Read more.
- September 12, 2023 11:38
Domestic steel prices are expected to more or less hold up this fiscal at Rs 59,000 per tonne (flat steel) and Rs 56,000 per tonne (long steel) despite a slowing global economy.
Smoldering domestic demand, rising coking coal prices and production-related dynamics in China, the world’s largest steel maker, are likely to prevent the slide in prices.
Domestic demand is poised to grow in double digit for the third consecutive year, buoyed by pre-election spending this fiscal. In the first five months, it had already risen 13 per cent. Front loading of central government capital expenditure could imply demand tapers in the second half. Still, over the entire fiscal, we expect demand to grow 10-12 per cent on-year. This would come on top of 11.4 per cent and 13.4 per cent growth, respectively, in fiscals 2022 and 2023, said CRISIL Market Intelligence and Analytics.
- September 12, 2023 11:35
Stocks in focus: Laurus Labs stock declines by 4.90% on the NSE, trading at ₹387.45.
The company’s board had approved acquisition of 37,641 equity shares of face value of ₹10 each of Laurus Bio Private Limited through secondary purchase of shares from one of the Promoters and non-executive director and his family members and also from few Employee/ex-Employee shareholders for an aggregate amount of ₹71.60 crore.
- September 12, 2023 11:35
IL&FS subsidiary puts up custody, DP businesses for sale
ISSL, a capital market intermediary that provides depository and custodial services and a subsidiary of IL&FS, has invited proposals for the potential acquisition of the ‘custody business’ and ‘depository participant business’ on a slump sale basis.
The applicants may express their interest for either or both the businesses. IL&FS held 81.2 per cent stake in ISSL.
- September 12, 2023 11:27
Acreage under pulses down 8%
Area under pulses coverage remained a concern with the sown acreage falling 8 per cent compared to last year. Despite the 10 per cent monsoon deficit, water-guzzling paddy acreage was higher at 403 lakh hectares till September 8.
Agriculture ministry data shows pulse sowing is lagging, with coverage lower at 120 lakh hectares compared to 131 lakh hectares a year ago. Oilseed acreage also marginally declined from 193 lakh hectares last year to 191 lakh hectares.
- September 12, 2023 11:27
Kharif rice production is expected to remain stable, but there are likelihood of a decrease in the output of pulses and oilseeds due to reduced acreage.
The government expressed confident in achieving the rice production goal of 111 million tonne (mt) during the current kharif season, thanks to increased sowing and favourable weather conditions in the primary cultivation regions. However, officials have indicated that there may be a decrease in pulses and oilseeds production. They also note that the surplus chana production during this year’s rabi season could help compensate for the shortfall in pulses, and there might be a slight rise in edible oil imports.
A senior official from the Agriculture Ministry said, “Rice production has been a significant concern, but we remain optimistic about meeting the target. Even if we fall short, it should not drop below last season’s production of 110 mt.” Given that the sowing period for pulses and oilseeds has concluded, and due to insufficient rainfall in August, overall pulses and oilseeds production may decline, the official explained.
- September 12, 2023 11:25
Here’s what Rahul Kalantri, VP Commodities, Mehta Equities, said on USD-INR
The USD-INR 26 September futures contract traded in a tight range. As per the daily technical chart, the pair is trading above its moving average trend-line support level of 82.95 and RSI is fetching above 50 levels. Looking at the technical set-up, MACD is showing positive divergence and the pair is sustaining above 82.95 levels. The pair is having support at 82.95-82.70 while resistance is placed at 83.30-83.50. If the pair crosses its crucial resistance level of 82.80 and sustains above this level, it could witness further strength towards 83.30-83.50, with support being placed at 82.80-82.55.
We suggest closely watching the level of 82.95-83.22 for taking fresh positions in the pair; either side breakout of the range could give further directions.
- September 12, 2023 11:21
Stock market live updates: Royal Orchid & Regenta Hotels announced the debut of its first hotel in Sikkim region with the launch of ‘Regenta Inn’ in Gangtok.
The company’s stock declines by 1.37% on the BSE, trading at ₹295.10.
- September 12, 2023 11:21
NTPC Green Energy Limited (NGEL), a wholly-owned subsidiary of NTPC Limited, and Nayara Energy had entered into MoU to explore opportunities in the Green Hydrogen and Green Energy space.
NTPC lost 1% to trade at Rs 240.50 on NSE.
- September 12, 2023 11:15
Stock market live updates: Mid, small-cap indices crack amid signs of froth
Nifty Midcap 100 and Nifty Smallcap 100 fell 2 per cent and 2.4 per cent at 10.45 am. The Nifty Smallcap 250 posted its biggest single day fall this year in early trade, and was down over 2 per cent.
The indices have been showing strength in the past few sessions hitting fresh highs, backed by rising volumes indicating broader market participation. Nifty Midcap 100 and Nifty Smallcap 100 have gained 7.6 per cent and 8 per cent, respectively in the past month.
Kotak Institutional Investors on Monday had dropped recommendation on the mid-cap space, saying it could not see too many options beyond the BFSI space that offered decent potential upside from their fair value.
“There is no meaningful change in the fundamentals of most companies; in fact, they have worsened in many cases. The primary driver of the rally appears to be irrational exuberance among investors, with high return expectations (and purchase decisions) being driven by the high returns of the past few months,” the report said.
- September 12, 2023 11:14
Stocks to watch today: SpiceJet Ltd.
SpiceJet Ltd. has made a payment of ₹77.5 crore to Kal Airways Private Limited and will complete the payment of ₹100 crore today by paying ₹22.5 crore as per the directions of the Delhi High Court, the company said in its regulatory filing.
The stock lost 4.65% to trade at Rs 38.14 on BSE.
- September 12, 2023 11:13
Stock market live updates: RVNL stock falls by 5.30% on the NSE, trading at ₹179.45.
- September 12, 2023 11:13
Stock market live updates: 11 out of 13 liquor stocks are in red
Liquor stocks, a segment dominated by companies in mid and small-cap space, are mostly in the red today. As many as 11 out of 13 stocks in this space are down. GM Breweries leads the losers with 4.8% drop, followed by Jagajit Industries (down 4.1%), Tilaknagar Industries (down 2.9%), Associated Alcohols & Breweries (down 2.35%) and Sula Vineyards (down 2.3%). Among the bigger companies, United Spirits is down 1.9%, United Breweries is down 1.6% and Radico Khaitan is down 1.4%.
- September 12, 2023 11:12
Stock market live updates: Top losers among Nifty Metal stocks
Welspun Corp (-5.07%)
Hindustan Copper (-4.38%)
National ALuminium (-3.25%)
SAIL(-2.90%)
APL Apollo Tubes (-2.57%)
Jindal Stainless Steel (-2.42%)
NMDC (-2.39%)
- September 12, 2023 11:08
Bhatia Communications & Retail (India) Ltd has decided to expand its operation into various States of the India in a phased manner.
The company said in a regulatory filing that it has appointed Rahul Rajkumar Chawla and Sunil Ramchandra Ahuja as Super Business Associate for opening of various Branch Stores in the State of Maharashtra.
The stock declines by 1.09% on the BSE, trading at ₹18.10.
- September 12, 2023 11:07
Stock market live updates: Top gainers, top losers at this hour
Major gainers on the BSE at 11 am:
NIIT (16.52%)
ITI (13.12%)
Elgi Equipments (6.39%)
Saregama (3.40%)
LT (2.90%)
Major losers:
Texmaco Rail Engineering (-8.72%)
IRB (-7.26%)
MMTC (-7.23%)
Bajaj Hindustan Sugar (-6.60%)
Gujarat Mineral Development (-6.48%)
- September 12, 2023 11:05
Nifty F&O: Support can limit the downside; go long
Nifty 50 Futures
Nifty 50 September Futures (20,009) is down 0.15 per cent. Intraday support is in the 19,980-19,970 region. If the contract manages to sustain above this support zone, it can rise back to 20,100-20,150 in the coming sessions. In case, a break below 19,970 happens, the downside can extend up to 19,920-19,900 for the day. Read more.
- September 12, 2023 10:44
Sonata Software has been named Microsoft India Partner of the Year across three verticals – Manufacturing & Conglomerates, ITES and Digital Natives.
The stock declines by 2% on the NSE, trading at ₹1,103.45. Read more.
- September 12, 2023 10:42
Stock market live updates: PCBL ltd informed the exchange that the final phase (84,000 MTPA) of the Greenfield Project have been commissioned today.
With this, the Greenfield Project is commissioned with a manufacturing capacity of 1,47,000 MTPA. However, the stock falls by 5.81% on the NSE, trading at ₹163.70.
- September 12, 2023 10:41
IPO news: EMS Ltd IPO has been subscribed 17.65 times as of 10:33 am on September 12, 2023.
The QIB portion has been subscribed 0.69 times, NII portion 36.19 times, and retail 18.98 times. The issue closes today.
- September 12, 2023 10:41
In Aug’23 net inflow for the mutual fund (MF) industry was at Rs 14,386 crore as against net inflow of Rs 82,046 crore in July’23.
Major new stock additions by MFs were : Concord Biotech, TVS Supply Chain, Sundaram Clayton, Rishabh Instruments, Aeroflex Ind, Kesoram Ind, Vishnu Prakash R, Jupiter Life Line, Brooks Lab, Universal Cables.
Major stock exits by MFs were: Capacit’e Infraprojects, Himatsingka Seide, Control Print. (Source: IDBI Capital)
- September 12, 2023 10:39
HLV, Mahindra Holidays, EIH top losers among hotels stocks
With G-20 euphoria over, hotels stocks are showing signs of correction. HLV (Hotel Leelaventures) is down 7.3%, Sayaji Hotels is down 5%, EIH (Oberoi hotels) is down 3.5%, and Royal Orchid Hotels is down 2.6%. Smaller hotel industry-related stocks such as Graviss Hospitality (down 5%), Mahindra Holidays (down 4.6%), UP Hotels (down 4.1%), Asian Hotels East (down 2.9%), Benares Hotels (down 2.4%) have not been spared. Hotel sector leader Indian Hotels Co. is down 1.2%.
- September 12, 2023 10:38
Stock market live today: Top losers of realty stocks on NSE
Indiabulls Real Estate (-6.73%)
Sobha (-4.59%)
Brigade Enterprises (-4.24%)
Oberoi Realty (-3.81%)
Prestige Estate (-3.55%)
- September 12, 2023 10:38
Stock market live updates: Amid broad-based PSU selling, Power Grid has gone ex bonus today. Record date is today for 1:3 bonus.
Power Grid lost 1.71% to trade at Rs 194.95 on NSE.
- September 12, 2023 10:36
Stocks in focus: Prestige Estates Projects Ltd is planning to partner TDI in Lutyens’ Delhi.
The property, owned by TDI Infratech has a market value of Rs 325-350 crore and an estimated revenue potential of Rs 700 crore, per market reports. Prestige Estates Projects Ltd lost 3.11% to trade at Rs 625.35 on NSE.
- September 12, 2023 10:33
L&T enhances share buyback price, stock up 3 per cent
Larsen & Toubro has raised its share buyback price to Rs 3,200 from the Rs 3,000 it had announced earlier, in order to ensure that its buyback programme goes through.
In an exchange filing late on Monday, the company said that it had raised the buyback price. The number of shares being bought back will be reduced to 3.13 crore from 3.33 crore earlier, translating into 2.22 per cent equity being bought back, compared to 2.37 per cent earlier. The total outgo for the buyback exercise remains the same at just over Rs 10,000 crore.
Shares of L&T were up 2.96 per cent at Rs 2,979.95 on the NSE. Read more.
- September 12, 2023 10:28
Stock market live updates: Major stocks that hit 52-week high today
ITI Ltd (11.35%)
Dolphin Offshore Enterprises (India) (5%)
Sarveshwar Foods (4.25%)
Sundaram Finance (4.13%)
Websol Energy System (3.98%)
L&T (3.36%)
- September 12, 2023 10:20
Stock market live updates: Nifty 50 top losers at this hour
Adani Enterprises (-2.54%)
Adani Ports (-2.33%)
Coal India (-2.16%)
Tata Motors (-1.50%)
Power Grid (-1.44%)
NTPC (-1.42%)
- September 12, 2023 10:17
Stocks to watch: Power Grid Corporation of India falls by 1.21% on the NSE, trading at ₹195.95.
The company became a successful bidder under tariff based competitive bidding to establish Inter-State Transmission System Project – Transmission system for evacuation of power from REZ in Rajasthan (20 GW) under Phase-III Part C1 – on Build, Own Operate and Transfer (BOOT) basis.
- September 12, 2023 10:16
Stock market live updates: 6 out 9 travel/tourism stocks down
Travel and tourism are under pressure today, with Thomas Cook (down 5%), ITDC (down 3.3%), International Travel House (down 2.6%), IRCTC (down 2.2%) and Easy Trip (down 1.9%).
- September 12, 2023 10:15
Stock market live updates: Tata Power Company stock declines by 1.86% on the NSE, trading at ₹266.85.
The US International Development Finance Corporation’s (DFC) had approved the provision of up to $425 million in financing for TP Solar Limited, a subsidiary of Tata Power Renewable Energy Limited (TPREL), for its upcoming greenfield 4.3 GW solar cell and module manufacturing plant at Tirunelveli district in Tamil Nadu, India.
- September 12, 2023 10:12
Rupee up 10 paise at 82.93 against dollar on firm trend in domestic equities, foreign fund inflows
The rupee appreciated by 10 paise to 82.93 against the US dollar in early trade on Tuesday, tracking a positive trend in domestic equities and foreign fund inflows.
Forex traders said the rupee is trading in a narrow range as the soft US dollar and positive domestic markets provided support, while concerns over global economic slowdown and rising expectations of a rate hike by FOMC amid strong economic data from the US may cap sharp gains for the local unit. Read more.
- September 12, 2023 10:08
Stock market live updates: Mid-caps, small-caps and PSU stocks are under pressure.
Cochin shipyard down 8%, NBCC down 7%, BEL, NHPC lost nearly 5% on Tuesday.
- September 12, 2023 10:03
Stock market live updates: Aurobindo Pharma stock inches up by 0.30% on the NSE, trading at ₹870.40.
Aurobindo Pharma Ltd informed the exchange about acquisition of 15 specified marketing and manufacturing related authorizations of branded products and related brand trademarks from Viatris Inc./ Pfizer Inc. for Indonesia market. The period for completion of acquisition is February 2024, for cash consideration of $48 million.
- September 12, 2023 09:58
Here’s what Rahul Kalantri, VP Commodities, Mehta Equities, said on crude oil
Crude oil prices were largely unchanged on Monday and held on to 10-month highs in the international markets ahead of the US inflation and EIA weekly inventory data. Although Saudi Arabia and Russia last week announced supply cuts, the move was overshadowed by continuing concerns over the recovery in Chinese economic activity. On Monday the US Deputy Treasury Secretary Wally Adeyemo said that China’s economic problems were more likely to have a local impact than affect the US. The dollar index also slipped from 6 month highs and supported crude oil prices. The US CPI inflation data and EU monetary policy outcomes could give further directions to global oil markets. We expect crude oil prices to remain volatile in today’s session. Crude oil has support at $86.40–85.80 and resistance is at $88.00–88.80 in today’s session. In rupee terms, crude oil has support at Rs 7,140-7,070, while resistance is at Rs7,340–7,420
- September 12, 2023 09:56
Stocks in focus: Gallantt Ispat Ltd tumbles by 11.06% on the NSE, trading at ₹89.65.
The company’s board had approved the setting up a new Direct Reduced lron DRl Kiln having a capacity of 1,65,00O MTPA at the company’s manufacturing facilities at Gorakhpur, Uttar Pradesh.
- September 12, 2023 09:54
Stocks in news today: Tata Consultancy Services
TCS stock inches up by 0.47% on the NSE, trading at ₹3,497, after the company announced partnership with Dassault Systems through its Living Heart Project.
- September 12, 2023 09:52
Here’s what Rahul Kalantri, VP Commodities, Mehta Equities, said on bullion market
Gold and silver prices were firmer on Monday, as a weaker US dollar index lifted the metals markets at the start of the trading week. Short covering in gold and silver futures markets were seen ahead of a key US inflation report on Wednesday.
The possibility of a cooling off in the CPI inflation and profit taking in the dollar index supported gold and silver prices. While the dollar index slipped from 6-month highs, the US 10-year bond yields are fetching above 4.25% which limited the gains of gold and silver. We expect gold and silver to remain volatile this week ahead of the US inflation data and ECB monetary policy meetings. Gold has support at $1907-1896 while resistance is at $1930-1940. Silver has support at $22.72-22.58, while resistance is at $23.22-23.40 In INR terms gold has support at Rs58,780, 58,620. while resistance is at Rs 59,220-59,410. Silver has support at Rs 71,050-70,450, while resistance is at Rs 72,140–72,850.
- September 12, 2023 09:47
Buzzing stocks: Shares of NIIT Ltd jumps 14.58% on the NSE, trading at ₹113.15.
- September 12, 2023 09:46
Stock market live updates: Dividend Dates
Alicon Castalloy Limited
Dividend Per Share Rs.3.75
Previous day Closing Price – Rs. 872.45
Cindrella Hotels Ltd
Dividend Per Share Rs.1
Previous day Closing Price – Rs. 74.76
Compucom Software Ltd.
Dividend Per Share Rs.0.4
Previous day Closing Price – Rs. 23.85
Dhunseri Ventures Ltd
Dividend Per Share Rs.5
Previous day Closing Price – Rs. 272.35
Gokaldas Exports Ltd.
Dividend Per Share Rs.1
Previous day Closing Price – Rs. 780.75
Halder Venture Ltd
Dividend Per Share Rs.1
Previous day Closing Price – Rs. 339.65
Hester Biosciences Ltd.
Dividend Per Share Rs.8
Previous day Closing Price – Rs. 1752.85
Hinduja Global Solutions Ltd.
Dividend Per Share Rs.2.5
Previous day Closing Price – Rs. 1038.45
Kalyani Forge Ltd.
Dividend Per Share Rs.3
Previous day Closing Price – Rs. 489.65
Mangal Credit And Fincorp Ltd.
Dividend Per Share Rs.0.5
Previous day Closing Price – Rs. 100.25
Oricon Enterprises Ltd.
Dividend Per Share Rs.0.5
Previous day Closing Price – Rs. 26.83
POCL Enterprises Ltd
Dividend Per Share Rs.2
Previous day Closing Price – Rs. 211.15
Sandur Manganese & Iron Ores Ltd.
Dividend Per Share Rs.5
Previous day Closing Price – Rs. 1569.6
Vijaya Diagnostic Centre Ltd
Dividend Per Share Rs.1
Previous day Closing Price – Rs. 484.15
- September 12, 2023 09:41
Stocks to watch today: Deccan Gold Mines stock rises by 1.01% on the BSE, trading at ₹89.20.
Deccan Gold Mines Ltd has incorporated a wholly-owned subsidiary under the name of “Deccan Gold-FZCO’ in Dubai, UAE. The latter has entered into an MoU with Steiger. In terms of this MoU, Steiger will provide drone-based magnetic & electromagnetic survey data processing and interpretation services of the drone data acquired by Deccan Gold FZCO at different locations in Africa & Asia and provide ground-based modern geophysical services related to mineral exploration as and when required by Deccan Gold FZCO.
In addition, the company also informed the exchange about completion of equity investment into Geomysore Services (India) Private Limited. DGML has invested ₹13.50 crore towards its second and final tranche of equity investment into GMSI. With this investment, the company has invested its committed investment of ₹28.50 crore into GMSI.
- September 12, 2023 09:37
Market outlook| Here’s what Kotak Institutional Equities said on OMCs
From over-recoveries on retail fuels until July 2023, the tide has turned for OMCs in a few weeks. With higher oil prices, higher cracks and frozen retail prices, OMCs are now incurring losses on retail diesel/petrol sales. With Saudi Arabia extending its 1 mb/d voluntary cut to end-2023, oil markets will remain tight. Oil prices can get firmer in the short term. With key elections not far away, retail price hikes are unlikely. Inventory gains should help in 2QFY24, but 2HFY24E would be tough if oil prices remain firm. However, we remain optimistic that pricing freedom will return after the 2024 general elections. We cut FY2024E earnings and FV for OMCs. Maintain REDUCE on all three OMCs (IOC, BPCL and HPCL).
Increased oil prices ahead of elections make OMCs vulnerable
Sustained efforts by the OPEC+ alliance, and particularly Saudi Arabia, to cut production are finally bearing fruit. After four quarters of declines, oil prices have moved up to about $90/bbl in recent weeks. With Saudi Arabia and Russia extending their additional voluntary cuts to end-2023, oil prices are likely to remain firm and could move up further. Fuel crack margins (particularly on diesel) have increased sharply. Ironically, in the current regime of frozen retail prices, higher cracks on diesel/petrol hurt OMCs. Compared with gains in refining, marketing losses are higher (due to higher volumes).
Cut FY2024E earnings sharply; maintain REDUCE on OMCs
We cut our FY2024E earnings by 16-17% for IOC/BPCL and by a higher 32% for HPCL (due to its higher leverage to marketing). Earnings changes are relatively low for FY2025E and FY2026. Our FV reduces to Rs90 for IOC (from Rs95), Rs375 for BPCL (from Rs390) and Rs260 for HPCL (from Rs280). Maintain REDUCE rating on OMCs. We continue to prefer upstream PSUs over OMCs.
- September 12, 2023 09:36
Stock market live updates: Top gainers, top losers at this hour
Major gainers on the NSE at 9:30 am:
LT (3.21%); Divi’s Lab (2.67%); Dr Reddy’s (1.67%); Sun Pharma (1.24%); ICICI Bank (1.22%)
Major losers:
Adani Ports (-1.64%); Adani Enterprises (-1.37%); BPCL (-1.09%); Coal India (-0.97%); NTPC (-0.78%)
- September 12, 2023 09:33
Gold price updates
Gold prices were stable as the yield on the 10-year US Treasury note rose to the 4.3 per cent mark, approaching the 15-year high of 4.34 per cent touched in August as the US economy’s resilience to higher rates aligned with bets that the Federal Reserve will leave borrowing costs at a restrictive territory for an extended period.
US Treasury Secretary Yellen stated that there is increasing confidence that the economy will be able to contain inflation without major blows to growth or the labour market, limiting the urgency for looser monetary policy.
Domestic gold price shows new attempts to breach Rs 59100 per 10 grams which supports the continuation of a bullish overview for today.
Key economic data slated for release include German WPI m/m, German ZEW Economic Sentiment from Euro Zone.
- September 12, 2023 09:32
Lupin has hit a 52-week high, after it announced that it would transfer part of its API business operations at Dabhasa, Gujarat, and Visakhapatnam to its arm Lupin Manufacturing Solutions.
- September 12, 2023 09:31
Natural gas updates
# Natural gas prices rose 0.51% to settle at 217.
# Global gas prices surged, driven by issues in Europe.
# U.S. saw a significant daily drop in gas output.
# Weather forecasts influenced demand expectations.
# London Stock Exchange Group predicted lower US gas demand.
# LNG exports from the US remained active.
- September 12, 2023 09:30
Stocks to watch today: Novelis today announced that in early 2023 it signed a new anchor customer
contract with aluminum can maker Ball Corporation in North America.Under the contract, Novelis will supply aluminum sheet to Ball can making plants in North America. With this contract and other commitments, Novelis has secured all of the beverage can capacity from its new plant in Bay Minette underscoring the strong demand for the company’s high-recycled-content beverage can sheet. The new plant, expected to begin commissioning in 2025, will be the first fully integrated aluminum manufacturing plant built in the US in nearly 40 years and will have an initial capacity of 600,000 tonnes of finished goods primarily for the North American beverage can and automotive markets.
Hindalco stock inches up by 0.01% on the NSE, trading at ₹484.90. Read more.
- September 12, 2023 09:28
Stock market live updates: Add-Shop E-Retail Ltd has opened 25 new franchises across the country.
The stock surged 2.53% to trade at Rs 38.85 on BSE.
- September 12, 2023 09:27
CME Group’s FedWatch Tool currently indicates a 93% chance the Federal Reserve will leave interest rates later this month but a 43.4% chance of another rate hike in November.
- September 12, 2023 09:18
Crude oil futures traded higher on Tuesday morning as the market awaited the release of crucial monthly oil market forecast from OPEC later in the day.
At 9.15 am on Tuesday, November Brent oil futures were at $91, up by 0.40 per cent; and October crude oil futures on WTI (West Texas Intermediate) were at $87.71, up by 0.48 per cent. September crude oil futures were trading at ₹7272 on Multi Commodity Exchange (MCX) in the initial trading hour of Tuesday morning against the previous close of ₹7248, up by 0.33 per cent; and October futures were trading at ₹7225 as against the previous close of ₹7195, up by 0.42 per cent. Read more.
- September 12, 2023 09:17
Nifty jumps 114 points to scale new high of 20,110 in early trade
The equity benchmark indices continued their winning momentum in early trade on Tuesday, climbing for the eighth day running, with the Nifty scaling a fresh all-time high level.
A largely firm trend in global markets and fresh foreign fund inflows added to the positive trend in equities in initial deals.
The 30-share BSE Sensex jumped 412.02 points to 67,539.10 in early trade. The Nifty climbed 114 points to 20,110.35 — an all-time high.
Among the Sensex firms, Larsen & Toubro, ICICI Bank, Sun Pharma, JSW Steel, Infosys, Tata Consultancy Services, Axis Bank and Bharti Airtel were the major gainers. Read more.
- September 12, 2023 09:14
Stocks in news: Power Grid to establish Inter-State Transmission System Project for evacuation of power from REZ in Rajasthan (20 GW)
- September 12, 2023 09:12
Stocks in news: Krishna Institute of Medical Science (KIMS) acquired a further 13.24 percent stake in Kondapur Healthcare for Rs 20 crore
- September 12, 2023 09:11
Stock market live updates: TVS Supply Chain will acquire 100 percent equity shares of three wholly-owned subsidiaries at Rs 450 crore.
The acquiring companies are TVS Logistics Investments UK Limited; TVS Logistics Investments Inc. USA and TVS Supply Chain Solutions Pte. Ltd, Singapore, says a company announcement to the National Stock Exchange.
TVS Supply Chain lost 1.92% to trade at Rs 240.65 on NSE.
- September 12, 2023 09:10
Stocks to watch today: TVS Motor reappoints KN Radhakrishnan as Director and CEO, effective from October 23
- September 12, 2023 09:08
Torrent Power clarified that promoter group company has no plan to create any pledge over promoter’s shares
- September 12, 2023 09:08
Dinesh Lahoti has resigned as Company Secretary and Compliance Officer of Sun Pharma Advanced Research Co with effect from September 11
- September 12, 2023 09:08
Stocks in news: Mishtann Foods will issue up to 7.4 crore convertible equity warrants with each warrant convertible into one fully paid-up equity share of the company
- September 12, 2023 09:07
Stocks to watch today: Adani group stocks
Impact on Adani Enterprises to be watched with petitioners in the Adani case have filed their response to SEBI’s status report on the Adani-Hindenburg probe
- September 12, 2023 08:59
Stocks to Watch: Borosil Renewables files writ petition to challenge Income Tax demand notice
Borosil Renewables Limited : Company had received an Income Tax demand notice along with an Assessment Order (“Order”) for the assessment year 2016-17 from the Assessment Unit of the Income Tax Department, for a demand of approx. Rs. 1952.56 lakhs. After examining the Order and based on the advice from tax / legal experts, the Company has filed Writ Petition before the Hon’ble High Court of Judicature at Bombay, seeking to quash, cancel and set aside the said Income Tax notice and Assessment Order issued against the Company and to grant stay of any further proceeding consequent to the said notice and order.The writ petition has been e-filed today i.e. on September 11, 2023
- September 12, 2023 08:56
Share Market Today: Trading Tweaks
Ex-date Dividend: AIA Engineering, RACL Geartech, Jupiter Wagons, MSTC, Skipper
Ex-date AGM: Jupiter Wagons, MSTC, Skipper Ex/
Record-date Bonus Issue: Power Grid Corp.
Ex-Record date Buy Back: Larsen & Toubro
Record-date Dividend: RACL Geartech.
Move Into Short-Term ASM Framework: Bombay Burmah Trading Corp, GTL Infrastructure, Jayaswal Neco Industries, Surya Roshni, and Transindia Real Estate.
Move Out Of Short-Term ASM framework : Sharda Motor Industries.
- September 12, 2023 08:56
Share Market Today: Insider Trades
Godrej Agrovet: Promoters of TAD Family Trust sold 45,000 shares, while Tanya Dubash bought 45,000 shares on Sept. 8. Monarch Networth Capital: Promoter Vaibhav Shah bought 65,000 shares on Sept. 8.
DB Realty: Promoter Shravan Kumar Bali sold 39,327 shares on Sept. 7.
GATI: Promoter TCI Finance sold 52,000 shares on Sept. 8.
- September 12, 2023 08:55
Share Market Today: Bulk Deals
Dhani Services: Maybank Kim Eng Securities bought 31 lakh shares (0.5%) at 44.99 apiece.
KNR Constructions: HDFC Mutual Fund bought 15.5 lakh shares (0.55%) at 273.52 apiece.
K&R Rail Engineering: Gupta Jee Tent Services bought one lakh shares (0.5%) at 765.45 apiece.
Andhra Paper: CD Equifinance bought 2.9 lakh shares (0.73%) for Rs 577.01 apiece.
Rishabh Instruments: Bandhan Mutual Fund A/C Small and Midcap Equity SME Fund bought 2.76 lakh shares (0.72%) at Rs 451.29 apiece, Quant Mutual Fund bought four lakh shares (1.05) at Rs 462.23 apiece, and Nippon India Mutual Fund bought 10 lakh shares (2.63%) at Rs 457.09 apiece.
Ugro Capital: Samena Special Situations Mauritius sold 16.5 lakh shares (1.78%) at Rs 300.01 apiece, while RBA Finance & Invt. Co. bought 10.5 lakh shares (1.13%) at Rs 300 apiece.
Mahanagar Gas: Norges Bank on behalf of the Government Pension Fund Global sold 10.65 lakh shares (1.07%) at Rs 1,050.16 apiece.
Tamil Nadu Newsprint: CD Equifinance Private sold 6.27 lakh shares (0.9%) at Rs 269.61 apiece.
- September 12, 2023 08:55
Share Market Today: Block Deals
Triveni Engineering & Industries: Rati Sawhney sold 88.8 lakh shares (4%) while STFL Trading and Finance bought 88.8 lakh shares (4%) at Rs. 348.90 apiece.
IDFC First Bank: Vembu Vaidyanathan sold 5.07 crore shares (0.76%), while Goldman Sachs Trust II bought 2.47 crore shares (0.37%), GQG Partners Emerging Markets Equity Funds bought 1.58 crore shares (0.24%), Reliance Trust Institutional Retirement Trust bought 35.19 lakh shares (0.05%), Abu Dhabi Investment Authority bought 11.62 lakh shares (0.02%), and AustralianSuper bought 10.80 lakh shares (0.02%) at Rs 94.5 apiece, among others.
- September 12, 2023 08:54
IPO Watch: EMS public issue closes today
The Rs 320-crore IPO of EMS Limited will close today for public subscription. The issue was subscribed 15.05 times at the end of Day 2. The company comes out with a price band of Rs 200-211 . The issue comprises a fresh issue of Rs 146.24 crore and 82.94 lakh shares under Offer for Sale by the Promotor, Mr. Ramveer Singh. The IPO will close on September 12. At the upper price band, the company’s IPO size would be Rs. 320-321 crore. Read more.
- September 12, 2023 08:53
Stock Market Live Today: Sectoral Watch: Steel Stocks to remain in focus
India imposes anti-dumping duty on some Chinese steel for 5 years on news reports
- September 12, 2023 08:51
Stock Market Live Today: Indian markets likely to open higher, following positive US trend
Deepak Jasani, Head of Retail Research, HDFC securities. — Indian markets could open higher, despite mixed Asian markets today and in line with slightly higher US markets on Sept 11
U.S. stock indexes finished higher on Monday, boosted by producers of luxury items and services including Tesla, as investors await inflation and retail-sales data later this week that should help guide the Federal Reserve’s interest-rate policy. The Nasdaq closed sharply higher on Monday as Tesla surged on optimism around artificial intelligence.
The August U.S. consumer-price index will be published Wednesday morning, while producer-prices and retail-sales reports for the same month are due on Thursday — all of which are likely to factor into the thinking of Federal Reserve policy makers as they consider whether to eventually adjust interest rates at their policy meeting next week.
- September 12, 2023 08:42
Stock Market Today: NSE Celebrates Nifty50’s milestone of touching 20,000 points
- September 12, 2023 08:37
Stock Market Today: Opening Bid: Indian equities poised for positive open, Gift Nifty at 20,130 signals strong start
Domestic markets are expected to open on a positive note despite ‘valuation’ concerns, especially in mid an small-cap space. Gift Nifty at 20,130 indicates another gap up opening for Nifty and Sensex. Nifty futures on Monday closed at 20,036.
Asian markets are trading flat on mixed cues from global markets in early trade on Tuesday despite positive closing at the US stocks overnight.
- September 12, 2023 08:25
Brokerage House Recommendations
JP Morgan on Indigo: Maintain Overweight, target price at Rs 2880
Jefferies on Havells: Maintain Hold, target price at Rs 1420
Bernstein on Zomato: Maintain Outperform, raise target price at Rs 120
Nomura on Ultratech: Maintain Neutral; target price at Rs 8800
Macquarie on HUL: Maintain Buy, target price at Rs 2950
Nomura on HUL: Maintain Buy, target price at Rs 2950
UBS on HUL: Maintain Neutral, target price at Rs 2860
Citi on HUL: Maintain Neutral, cut target price at Rs 2880
Goldman Sachs on HUL: Maintain Neutral, cut target price at Rs 2725
Kotak on Laurus Labs: Downgrade to Sell, target price at Rs 300
- September 12, 2023 08:16
Commodities Market Today: Sovereign Gold Bonds 2023-24 Series II: Should you subscribe?
The issue price is ₹5,873 post online discount; open between September 11 and 15
- September 12, 2023 08:15
Commodities Market Today: Lead futures: Breakout sparks bullish momentum
Lead futures (continuous contract) on the Multi Commodity Exchange (MCX) moved out of a range on the upside and triggered an upward trend. The September futures of lead broke out of the ₹184-187 range last week.
- September 12, 2023 08:12
Share Market Today: Stocks that will see action today: September 12, 2023
Buzzing Stocks: L&T, Reliance, ICICI Bank, Hindalco, L&T Finance Holdings, Kesar Termnals, PowerGrid, Regency Fincorp, Taurus Labs, Shree Rama Multi-Tech, Olectra Greentech, KIMS, Gufic Biosciences, Mishtaan Foods, Kinetic Engineering, Gallant Ispat
- September 12, 2023 08:07
Stocks to Watch: Laurus Labs to acquire 37,641 equity shares of Laurus Bio for Rs 71.60 crore
The Board of Laurus Labs Limited has accorded its final approval for acquisition of 37,641 equity shares of face value of Rs.10 each of Laurus Bio Private Limited through secondary purchase of shares from one of the Promoters and non-executive director and his family members and also from few Employee/ex-Employee shareholders for an aggregate amount of Rs.71.60 crore. Pursuant to the above acquisition, the stake of the Company in Laurus Bio Private Limited shall reach to 87.58 per cent on fully diluted basis (including outstanding ESOPs and the Share Warrants).
- September 12, 2023 08:06
Stock Market Live Today: Regulatory Move: SEBI announces framework for unitholders to nominate Directors on REITs and InvITs Boards
SEBI has notified the framework that allows holders of real estate investment trusts and infrastructure investment trusts to nominate representatives on the boards. Accordingly, unitholders who own at least 10 per cent of the outstanding REITs or InvITs, either individually or collectively, may nominate a director to the boards of investment managers of a REIT or InvITs.
- September 12, 2023 08:04
Stocks to Watch: TVS Holdings appoints Sudarshan Venu as Managing Director
TVS Holdings: Company appoints Sudarshan Venu as Managing Director
- September 12, 2023 08:04
Stocks to Watch: Lupin to transfer API manufacturing sites in deal with Lupin Manufacturing Solutions
Lupin: To enter into a business transfer agreement with arm Lupin manufacturing Solutions to carve out API manufacturing sites at Dabhasa & Visakhapatnam
- September 12, 2023 08:02
Stocks to Watch: Securities in F&O Ban For Trade Date 12 SEPT 2023
CHAMBAL
DELTACORP
HINDCOPPER
IBULHSGFIN
INDIACEM
MANAPPURAM
PNB
SAI
- September 12, 2023 08:01
Stocks to Watch: Kinetic Engineering promoters inject Rs 28 crore via equity and preference shares
Promoters of Kinetic Engineering has infused Rs 28 crore in the company through equity shares worth Rs 27.42 crore at Rs 120 per share and 80,000 Optionally Convertible Cumulative Preference Shares at Rs 120 each.
- September 12, 2023 08:00
Stocks to Watch: Gufic Biosciences gets TGA and ANVISA approval for Parecoxib Sodium 40mg
Gufic Biosciences Limited (Gufic) has received approval from the Therapeutic Group Administration (TGA), Australia and the National Health Surveillance Agency (ANVISA), Brazil for Parecoxib Sodium 40mg Lyophilized Powder for Injection, a selective COX-2 inhibitor, which shall be used for short-term treatment of acute pain and post-operative pain in adult patients. Gufic has been persistently committed to saving and improving lives of patients across the globe with its continuous efforts through the international regulatory agencies to bring novel molecules for the mankind. Read more.
- September 12, 2023 07:58
Stocks to Watch: Novelis secures anchor customer contract with Ball Corp for aluminum sheet supply
Novelis Inc., a leading sustainable aluminum solutions provider and subsidiary of Hindalco Industries, has announced that in early 2023 it signed a new anchor customer contract with aluminum can maker Ball Corporation in North America. Under the contract, Novelis will supply aluminum sheet to Ball can making plants in North America. With this contract and other commitments, Novelis has secured all of the beverage can capacity from its new plant in Bay Minette, Ala., underscoring the strong demand for the company’s high-recycled-content beverage can sheet. The new plant, expected to begin commissioning in 2025, will be the first fully integrated aluminum manufacturing plant built in the US in nearly 40 years and will have an initial capacity of 600,000 tonnes of finished goods primarily for the North American beverage can and automotive markets.
- September 12, 2023 07:57
Stocks to Watch: Bain Capital set to sell Rs 850 crore stake in L&T Finance Holdings
Market buzz is that Bain Capital, which holds stake in L&T Finance Holdings Ltd under BC Invsts, is likely to sell stake worth up to Rs 850 crore via block deals.
- September 12, 2023 07:44
Stock Market Live Today: Data focus: 72% of India’s super rich derive wealth from equity markets
The sharp rally in equity markets since March 2020 appears to have helped the affluent not just in India, but in other countries as well. In the last three years, until May 2023, a whopping 84 per cent of them noted a growth in their net wealth.
- September 12, 2023 07:41
Stock Recommendations: Broker’s call: Triveni Turbine (Buy)
Our interaction with Triveni Turbine Limited (TTL) reinstates our faith in its strong growth trajectory, driven by increasing industrial demand for energy-efficient turbines. Management is confident of achieving strong order inflows in FY2024 and expects about 35 per cent revenue growth in the next couple of years.
- September 12, 2023 07:39
Stocks to Watch: KKR to invest ₹2,069.5 crore in Reliance Retail Ventures
Private equity firm KKR will invest ₹2,069.5 crore in Reliance Retail Ventures for a 0.25 per cent stake, valuing the retail arm of Reliance Industries at ₹8.36-lakh crore, said a company statement.
- September 12, 2023 07:37
Stocks to Watch: India, Saudi Arabia to expedite $50-billion west coast refinery project
India and Saudi Arabia will set up a joint task force to explore early implementation of the west coast refinery project for which the Arabian nation will invest $50 billion. A monitoring committee will also be created to ensure that the progress is as per plans.
- September 12, 2023 07:36
Kharif Watch: Kharif rice production unlikely to fall but pulses, oilseeds output may drop on lower acreage
The government is confident of meeting the rice production target of 111 million tonnes (mt) in current kharif season after the surge in sowing area and a conducive weather in main growing regions. However, pulses and oilseeds production may drop, officials said, adding that surplus production in chana during the rabi season this year may help in meeting the shortfall in pulses while import may marginally go up in case of edible oils.
- September 12, 2023 07:33
Economy Watch: Bank deposit rates to remain elevated, say experts
To support the current strong uptick in credit growth, bank deposit rates are expected to remain at elevated levels for a few months, say experts..
The reason for this is that year-on-year (y/y) credit growth is outpacing deposit growth. As on August 25, 2023, the y/y credit and deposit growth was 19.39 per cent and 12.93 per cent, respectively, per RBI data.
- September 12, 2023 07:26
Stocks to Watch: L&T raises buyback price to Rs 3,200 per share amid favourable market sentiments
To complete the proposed buyback plan, and considering the present market sentiments, L&T has decided to increase the buyback price to Rs. 3,200 per equity share from the earlier announced price of Rs. 3,000
- September 12, 2023 07:24
Stocks to Watch: Bharat Forge in talks with at least 10-12 countries for defence exports: Baba Kalyani
Bharat Forge Limited, one of the leading defence private company, is in talks with at least ten to twelve countries, including with the US), for exports of its artillery guns, armoured and protective vehicles, and components, its Chairman and Managing Director Baba Kalyani told businessline in an exclusive interview.
- September 12, 2023 07:23
Stocks to Watch: Legal troubles hover around SpiceJet
Credit Suisse alleges non-payment of dues, while the Delhi High Court has granted an extension to settle a ₹100 crore arbitral award in favour of the Maran family.
SpiceJet said it will complete payment of Rs 100 crore to Kalanithi Maran by Tuesday
- September 12, 2023 07:20
Stock to buy today: Rashtriya Chemicals & Fertilizers (₹132.75)
The short-term outlook is bullish for Rashtriya Chemicals & Fertilizers (RCF). The stock has begun the week on a strong note by surging 5 per cent. Strong support is now in the ₹129-127. Read more
- September 12, 2023 07:17
Technical Analysis: Day trading guide for September 12, 2023: Intraday supports, resistances for Nifty50 stocks
Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS and SBI
- September 12, 2023 07:14
Stock Market Live Today: “Nifty’s all-time high driven by strong local flows amid global gautions
Pratik Gupta, CEO & Co-Head, Kotak Institutional Equities
“What is really impressive about India’s NIFTY reaching this all-time high level is that it has been driven mainly by local flows in recent months, while FPI flow has been relatively subdued, partly due to limited global interest in Asia funds given the weak outlook for China which has a very high weightage in the region”.
- September 12, 2023 07:11
Stock Market Live Today: Nifty hits 20,000: A ailestone on the journey with technical caution
Nilesh Shah MD Kotak Mahindra Asset Management Company Ltd-
“NIFTY at 20,000 is part of a journey and not a destination. Sitaron se aage jahan aur bhi hai. Where yesterday Sensex was, today NIFTY is. Where today Sensex is, tomorrow NIFTY will be there for the long term investors. However in a momentum market one has to be cautious.”
- September 12, 2023 07:07
Stock Market Live Today: Technical Analysis: Nifty breaks 20K, potential targets and caution ahead
Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd
India’s resilient growth compared to global macroeconomic headwinds has given investors the confidence to maintain bullish bets and propelled benchmark Nifty past the 20K mark. The 7th consecutive session of gains has come despite persisting selling by foreign institutional investors and other vagaries like inflation, rising dollar, spiking US treasury yields and interest rate hike concerns. While undertone appears bullish, the market seems to be in an overbought position and hence caution may prevail going ahead. Technically, for the short-term period benchmark Nifty is holding a strong formation. On daily charts, the index has formed a bullish candle and on intraday charts it is consistently forming a higher high and higher low series formation, which is largely positive. For the trend following traders, 19935 could act as a key support level, above which the index could move up till 20100-20175. On the flip side, below 19935, traders may prefer to exit from long positions and below the same, we could see a one quick intraday correction till 19850-19825.
- September 12, 2023 06:53
Stock Market Live Today: Kotak Cherry CEO cautions amid Nifty 50’s record high
Srikanth Subramanian, CEO, Kotak Cherry said “Its a liquidity driven rally due to positive sentiments around India that has help Nifty 50 index scale new all time high of 20000. However investors should exercise caution when treading in the market. Nifty 50 PE now goes closer to 25, which by any standard isn’t cheap. While markets are aggresive in terms of valuation, midcap and small cap stocks in particular, investors should clearly stay away from noise and make an informed choice. Meanwhile, the trajectory for broader markets from here onwards will depend on corporate earnings, inflation and interest trajectory, Oil Prices and of course the geopolitical situation, all of which, at this stage, augurs well for India”
- September 12, 2023 06:48
Stock Market Live Updates: Kotak research stops recommendations on mid-, small-cap stocks
Kotak Institutional Investors has dropped recommendation on the mid-cap space as it cannot see too many options beyond the BFSI space that offer decent potential upside from their fair value.
There are limited points in trying to find fundamental reasons behind the steep increase in stock prices of several mid- and small-cap stocks with no meaningful changes in the fundamentals of most companies and, in fact, they have worsened in many cases.
- September 12, 2023 06:45
Economy Watch: Retail inflation expected to range from 6.8% to 7.1% for August
The government will release the retail inflation number based on the Consumer Price Index (CPI) for August and the industrial growth number for July on Tuesday. While the expectation is that retail inflation could range from 6.8 to 7.1 per cent, the industrial growth rate could be 5 per cent.
Retail inflation for July was 7.44 per cent. The industrial growth rate in June was recorded at 3.7 per cent.
- September 12, 2023 06:41
Stock Market Live Today: Japanese stocks open higher amid tech sector strength from Wall Street
Japanese stocks started the day with gains, mainly driven by the strong performance of technology shares on Wall Street. As of 6:30 am, the Nikkei 225 index was up by 0.56%, equivalent to 182.76 points, reaching 32,651.75, and the broader Topix index increased by 0.44%, or 10.10 points, standing at 2,370.58. In contrast, South Korea’s Kospi index showed weakness, declining by 0.21% to 2,551.59. The previous night on Wall Street saw the Nasdaq rising by 1.1%, the S&P 500 gaining 0.7%, and the Dow Jones Industrial Average increasing by 0.3%.
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