Closing Bell : Nifty is at 19,750, but the Sensex is down 126 points; auto and real estate are up, while IT is down. Oct-12

Closing Bell :- Except for the bank, IT, and metal indexes, all other sectoral indices are in the green. The BSE Midcap and Smallcap indices are up little..

Closing Bell: Sensex falls, closed at66,282 level : While Nifty at 19,750 level

 Indian Market 

FII AND DII 

1. The BSE Auto index rose 0.6 percent, led by Tata Motors, Ashok Leyland, and Maruti Suzuki:
2. The BSE Bank index fell 0.7 percent, led by Axis Bank, Bank of Baroda, and SBI.
3. Tamil Nadu State Transport Undertakings awards Ashok Leyland a contract for 1,666 buses.
4. SpiceJet is up 19% ahead of the High Court hearing in the Maran case.
5. Eimco Elecon reaches an all-time high after landing a Rs 39-crore order, increasing 49% in a week.
6. indiGo maintains its market share dominance with 63.4%, while SpiceJet has a 4.4% stake.
7. Kesoram Industries reports a loss of Rs 58.4 crore for the third quarter.
8. Angel One’s second-quarter earnings increased 43% year on year to Rs 304.5 crore, while revenue increased 41%.
9. Plada Infotech is listed on the NSE SME at a 23% premium to its IPO pricing.
10. On October 12, Rajasthan Global Securities purchased a 3.09% stake in Shalimar Paints on the open market.
11. According to CNBC-TV18, HDFC Bank major trade | 46.7 lakh shares (0.1 percent equity) worth Rs 720 crore change hands at Rs 1,540 per share.
12. On October 12, Rajasthan Global Securities purchased a 3.09% stake in Shalimar Paints on the open market.
13. Bags from SJVN’s subsidiary Rajasthan solar power plant costs Rs 600 crore; stockpile 2% GMR Airports Infrastructure sees a 23% increase in passenger volume year on year in September.
14. Mahindra Lifespace Developers has purchased a 5.38-acre plot of land in Pune.
15. Gold rises as it approaches its best week since March.
16. BGR Energy receives a Rs 112.75 crore deal from Mangalore Refinery & Petrochemicals.
17.  Paytm Payments Bank is fined Rs 5.39 crore by the RBI for failing to comply with KYC regulations.
18. BGR Energy receives a Rs 112.75 crore deal from Mangalore Refinery & Petrochemicals.
19. According to Infosys Net profit increased by 3% year on year in Q2FY24, although revenue forecast was narrowed at the upper end.
20. HCLTech’s second-quarter net profit increased 9.92% year on year to Rs 3,833 crore, while revenue increased 8%.
21. Retail inflation falls to 5.02% in September, the lowest level in three months.
22. In August, industrial growth reached a 14-month high of 10.3%.
23.  

Indian Market Action

     INDIAN MARKET MOVERS 

News Updates

RBI likely to conclude evaluating bidders for IDBI Bank by October-end

India’s central bank is poised to hasten a key step of vetting IDBI Bank’s possible purchasers and finish it by October end, helping speed up the sale of a majority share in the lender, two government officials said.

The federal government, which owns 45.48 percent of IDBI Bank, and the state-owned Life Insurance Corp of India, which holds 49.24 percent, jointly seek to sell 60.7 percent of the lender. The Reserve Bank of India (RBI) initiated the vetting process known as ’fit and proper criteria’ in April, after Kotak Mahindra Bank, the Prem Watsa-backed CSB Bank and Emirates NBD presented their initial proposal to purchase a majority share in IDBI Bank.

Infosys Q2 results beat street but weak guidance sends ADRs crashing 7 percent in New York trading

Infosys’ September quarter numbers exceeded expectations, but negatives like narrowing revenue growth guidance and a weak outlook may put the stock under pressure when it opens for trade. New York-listed Infosys ADR shares fell 7% to $16.25. Mehta Equities Senior VP Prashanth Tapse believes revised guidance would put pressure on prices to sustain while maintaining margins. Infosys closed at Rs 1464.55 on BSE, down 2%.

Inflation numbers far below predictions but uncertainty still lingers, say experts

The reduction in India’s headline retail inflation in September 2023 was significantly below market predictions but uncertainty still persists, experts warned. Additionally, experts claimed that the central bank is projected to retain a protracted pause in repo rate in the fiscal year (FY) 2023-24.

“The moderation in core inflation indicates that generalization of price pressures has not taken place. Hence, the Reserve Bank of India (RBI) is projected to continue on lengthy pause in FY24,” said Gaura Sen Gupta, Economist, IDFC First Bank.

Upasna Bhardwaj, Chief Economist, Kotak Mahindra Bank remarked, “The CPI inflation moderated more than our forecasts. However, rising crude oil prices and persistence of price pressures on cereals and pulses remains to be monitored for. Overall we expect the MPC to continue in a protracted pause mode at least into mid next year.”

Industrial growth hits 14-month high of 10.3 percent in August

India’s industrial output expanded by 10.3 percent in August, according to figures issued by the Ministry of Statistics and Programme Implementation on October 12. At 10.3 percent, the current industrial growth statistic as per the Index of Industrial Production (IIP) is the highest in 14 months.

It is also significantly above the consensus projection of 9.1 percent. Industrial growth had come in at 5.7 percent in July – now revised to 6.0 percent – and was -0.7 percent in August 2022. For the first five months of 2023-24, India’s industrial output is up 6.1 percent year-on-year, down from 7.7 percent in April-August 2022 when the statistics was bolstered by a positive base effect.

HCLTech’s net personnel addition drops by 2,299 in Q2FY24

HCLTech’s net personnel addition has fallen by 2,299 in the second quarter ended September 30 for the fiscal year 2024, as the company is focusing on boosting utilization rates to sustain operating margin guidance amidst a tough business climate.

Fresher addition for the quarter was at 3,630, up from last quarter’s 1,597. Total headcount stood at 221,139. HCLTech expects to onboard 10,000 freshers in FY24. This is the second consecutive quarter of headcount drop for HCLTech. The company’s personnel in Q1 has reduced by 2,506. The company, however, added 1,597 freshers during Q1. HCLTech’s attrition for Q2 remained at 14.2 percent compared to 16.3 percent reported last quarter. In Q2FY23, attrition stood at 23.8 percent.

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Force Motors announces August production of 3,032 automobiles. 

Power Mech Projects climbs more than 2% after receiving a Rs 625 crore order.

Hitachi Energy India rises nearly 4% after receiving an order.

Quant Mutual Fund invests Rs 86 crore in JM Financial, while Valiant Mauritius Partners sells 0.8% of its holding.

Baring Private Equity sells Rs 34.7 crore in PG Electroplast shares.

Small Cap World Fund and New World Fund sell Rs 884.43 crore in Shriram Finance shares.

Nazara Technologies will offer 57.42 lakh preferential shares to SBI Funds at Rs 714 per share.

Cochin Shipyard Large Trade | According to CNBC-TV18, 8.6 lakh shares (0.7 percent e

Data from China | Exports were down 8.8% in August, while imports were down 7.3% year on year.

Indian Railways awards Responsive Industries a contract for the Garib Rath Initiative.

CNBC-TV18 reported that Bikaji Foods International Large Trade | 14.1 lakh shares (0.6 percent equity) worth Rs 71.3 crore change hands at Rs 507 per share.

PVR INOX stock rises as SRK’s ‘Jawan’ hits theaters, and the industry anticipates a blockbuster opening.

L&T rises on rumours of a possible order from Saudi Aramco for a gas project.

Varroc Engineering to acquire a 26% share in AMP Energy SPVs TCS forms strategic cooperation with JLR’s digital unit

Tata Motors August Auto Sales | JLR UK sales are down 23.6% year on year at 1,479 units versus 1,935 units.

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