Closing Bell :– M&M, Apollo Hospitals, Coal India, Hero MotoCorp, and Power Grid Corporation were among the top losses on the Nifty, while M&M, HUL, Tata Consumer Products, Adani Ports, and ONGC were among the top gainers.
Closing Bell: Sensex falls 143 pts , closed at 64,832 level : While Nifty closed at 19,395 level.
Indian Market
FII AND DII
| FII Sold | 524.47 Cr |
| DII Purchased | 84.55 Cr |
Stock Market News
- Brigade Enterprises, Sobha, and Godrej Properties led the BSE Realty index up 1.5 percent.
- Vodafone Idea is up 2.5% after the Bombay High Court ordered a tax return of Rs 1,128 crore.
- Mazagon Dock Shipbuilders’ Q2 earnings increased 56% year on year to Rs 333 crore, with a dividend of Rs 15.34 per share declared.
- On the closing day, ROX Hi-Tech subscribed 113 times and Sunrest Lifescience booked 26 times.
- Strong pharma Q2 earnings propel the Nifty Pharma index up 6% in seven consecutive sessions.
- Page Industries’ second-quarter net profit decreases 7.3% to Rs 150.27 crore, while revenue falls 8.39%.
- Bharat Heavy Electricals Limited discloses a Rs 238 crore loss in the second quarter; the stock falls 1%.
- United Spirits’ second-quarter profit fell 37% year on year to Rs 341 crore.
- Nazara Tech’s net profit in the second quarter increased by 53.3% to Rs 24.2 crore, while the stock increased by 1%.
- JSW Steel’s October consolidated crude steel production increased by 12% year on year.
- Shree Renuka Sugars falls 3% as its Q2 loss balloons to Rs 206 crore.
- ASK Automotive IPO Final Day: The issue has been booked 23.94 times.
- Ramkrishna Forgings has launched a QIP that could raise Rs 1,000 crore; examine the floor price.
- China’s consumer prices declined 0.2% year on year, while producer prices fell 2.6%.
- Ugar Sugar Works, Bajaj Hindusthan Sugar, and Tasty Bite Eatables drove down the BSE FMCG index by 0.4 percent.
- The Nifty Auto index is up over 1%, led by M&M, Hero MotoCorp, and Tata Motors:
- Welspun Corp announces a profit of Rs 384.7 crore for the second quarter.
- Despite solid Q2 results, Endurance Technologies is down 3%.
- Intellect Design receives a bank order for IntellectAI’s eMACH.ai Custody Edge Platform.
- On day 2, the retail part of the ASK Automotive IPO was subscribed to 1.32 times.
- Ramkrishna Forgings has launched a QIP that could raise Rs 1,000 crore; examine the floor price.
- Bata India’s Q2 earnings falls 38% year on year to Rs 34 crore.
- Oil India’s second-quarter profit fell 81% year on year to Rs 325 crore.
- Pidilite Industries’ Q2 earnings increased 36% year on year to Rs 458.5 crore.
| SENSEX | -143.41 | -0.22% |
64,832.20 |
| NIFTY50 | -48.20 | -0.25% | 19,395.30 |
| BANK NIFTY | 24.95 | +0.06% | 43,683.60 |
INDIAN MARKET MOVERS
M&M |
64.65 4.35% | Adani Enterpris | -45.30 -2.00% |
| Apollo Hospital | 186.65 3.65% | HUL | -42.65 -1.69% |
| Coal India | 6.15 1.94% | Adani Ports | -12.50 -1.53% |
| Power Grid Corp | 2.80 1.35% | TATA Cons. Prod | -13.45 -1.47% |
| Hero Motocorp | 41.80 1.33% | ONGC | -2.65 -1.36 % |
News Updates
HDFC Bank slips out of analysts’ favour as merger math ruins margin forecast
The Street has been cautious on shares of HDFC Bank following the lender’s July-September quarter (Q2FY24) scorecard highlighted margin problems post-merger with erstwhile HDFC and reduction in earnings per share (EPS) growth for the period.
Pidilite plans entry to lending business; to acquire promoter group’s NBFC
Adhesive manufacturer Pidilite Industries plans to enter the lending business, focusing on providing credit through small retail loans. The company plans to support its domain ecosystem’s business growth through these loans. It plans to acquire the promoter group’s non-banking financial company (NBFC), Pargro, which is debt-free as of October 31, 2023. The acquisition, expected to be worth Rs 10 crore, is expected to be completed before March 31, 2024. The transaction will be completed post the execution of the SPA and necessary documents and upon obtaining RBI approvals. The acquisition is expected to be completed before March 31, 2024.
Tata Power Q2 net profit increases 8.8% on higher revenues across core businesses
Tata Power Company Limited reported a consolidated net profit of Rs 1,017.41 crore for Q2 2022, an 8.79% increase from the previous year, driven by higher revenues from its core businesses of generation, transmission, and distribution. The company’s consolidated revenue increased by nine percent to Rs 15,442 crore, compared to Rs 14,163 crore in the same period last year. The company’s strong financial performance was attributed to its healthy balance sheet, operational excellence, and synergies across all business clusters. EBITDA also rose by 51% to Rs 3,087 crore, reaching an all-time high of Rs 6,092 crore in the first six months of FY24.
EaseMyTrip eyes more acquisitions in FY24, targets profit before tax of Rs 250 crore
EaseMyTrip, an online travel platform, plans to make several acquisitions in FY24 to expand its business in other segments such as hotels, trains, and buses. Co-Founder Prashant Pitti stated that the company is only acquiring profitable, disruptive asset-light businesses where its strengths can be utilized by them. In the September quarter of FY24, EaseMyTrip acquired 51% stakes in Guideline Travel Holidays, TripShope Travel Technologies, and Dook Travels, a travel service provider operating in Central Asia, Turkey, the UAE, and India. The company aims to achieve a profit before tax of Rs 250 crore.
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Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell latest news fClosing Bell tyClosing Bell above 19,700, Sensex up 385 points; gains in capital goods, real estate, and banks
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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