Closing Bell :– BSE Midcap and Smallcap indices, both fell 0.5 percent.
Closing Bell: Sensex Slips 522 pts , closed at 64,049 level : While Nifty closed at 19,122 level
Indian Market
FII AND DII
| FII Purchased | 252.25 Cr |
| DII Purchased | 1111.84 Cr |
Stock Market News
- The Nifty Bank index fell 0.5 percent and is now down for the year. ICICI Bank, IndusInd Bank, Bandhan Bank, and Federal Bank were among the top gainers.
- So far, the Blue Jet Healthcare issue has been subscribed to 0.23 times, while the retail section has been purchased 0.34 times.
- GMR Airports will purchase an 11% share in GMR Hyderabad International Airport.
- Adani Enterprises responds to India’s move to blend imported coal.
- Blue Jet Healthcare IPO has been subscribed to 0.23 times so far, with retail buyers purchasing 0.34 times on Day 1.
- Shoppers Stop invests an additional Rs 5 crore in Global SS Beauty Brands through a rights issuance.
- DreamFolks Reports Strong Q2 Earnings Growth of 20.3%
- Tech Mahindra’s Q2 sales, profit, and margins may dip year on year; deal wins are expected to be subdued.
- Axis Bank’s Q2 profit is expected to increase by 7%, and the integration of Citi will be closely monitored.
- TV18 Broadcast lost Rs 65 crore in Q2FY24, compared to a profit of Rs 10 crore in Q2FY23.
- John Cockerill gains 5% after landing a Rs 280-crore job with Tinplate Company.
- MAHAGENCO awards Gensol Engineering a contract worth Rs 301.5 crore.
- John Cockerill gains 5% after landing a Rs 280-crore job with Tinplate Company.
- Cello World’s Rs 1,900 crore initial public offering (IPO) will begin on October 30.
- Bitcoin rises 10% to a two-and-a-half year high.
- Honasa Consumer, Mamaearth’s parent company, will launch its initial public offering (IPO) on October 31, with a fresh issue part of Rs 365 crore.
- Cello World has announced an IPO price range of Rs 617-648 per share.
| SENSEX | -522.82 | -0.81% |
64,049.06 |
| NIFTY50 | -159.60 | -0.83% | 19,122.15 |
| BANK NIFTY | -319.20 | -0.74% | 42,832.00 |
INDIAN MARKET MOVERS
| Coal India | 4.20 1.37% | Infosys | -38.60 -2.74% |
| Tata Steel | 1.35 1.13% | Adani Enterpris | -51.65 -2.24% |
| Hindalco | 4.50 0.99% | Cipla | -26.35 -2.23% |
| TATA Cons. Prod | 6.90 0.78% | Apollo Hospital | -109.65 -2.21% |
| SBI | 3.25 0.59% | NTPC | -4.50 -1.90% |
News Updates
Axis Bank Q2 profit likely to rise 7%, Citi integration to be keenly watched
Axis Bank is expected to report a 7% on-year net profit growth in Q2, reaching Rs 5,698 crore. This growth is driven by net interest income (NII) growth and improved firm asset quality. However, higher costs of funds will continue to impact the bank’s margins. NII is expected to increase 15% on-year to Rs 11,908 crore due to steady loan growth. Net profit is expected to fall by 2% due to Citi integration’s elevated cost ratios. NII is expected to remain flat from Rs 11,959 crore in Q1. Citi integration is also a concern.
Tech Mahindra Q2 revenue, profit, margin may fall on-year; deal wins seen muted
Tech Mahindra is expected to report disappointing Q2 earnings on October 25. The IT firm’s Q2 FY24 net profit is expected to decline YoY, while revenue is expected to remain flat due to poor performance in the communications sector, delayed telecom revenue, and weak discretionary spends. EBIT margin is a major concern, with brokerages expecting a significant contraction in Q2 FY24. Deal wins are also expected to remain muted due to weak macro and slow decision-making. The net profit may decline around 37% YoY to Rs 822 crore, with an 18% rise sequentially. The quarter may also experience certain one-time costs.
Blue Jet Healthcare’s public issue to open on October 25; raises Rs 252 crore via anchor book
Maharashtra-based pharmaceutical company Blue Jet Healthcare raised Rs 252.08 crore from 22 anchor investors on October 23, the last working day before the issue opening. The firm has finalized the allocation of 72,85,548 equity shares to investors at a price of Rs 346 per share. The speciality pharmaceutical and healthcare ingredients developer will open its Rs 840.27-crore public issue on October 25, with a price band of Rs 329-346 per share.
Bitcoin soars 10% to 2-1/2 year high
Bitcoin surged by 14% to a 2-1/2-year high of $34,283 in early Asia hours, driven by speculation that the US could approve a bitcoin exchange-traded fund. The cryptocurrency was last up 10% at $33,030, while rival ether was up 6%.
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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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