Closing Bell :– The BSE Midcap and Smallcap indices are both up 1%.
Closing Bell: Sensex rises 490 pts , closed at 64080 level : While Nifty closed at 19,133 level
Indian Market
FII AND DII
| FII Sold | 1,816.91 Cr |
| DII Purchased | 1,622.05 Cr |
Stock Market News
- Bank of Baroda, Punjab National Bank, and IndusInd Bank led the Nifty Bank index higher by 0.6 percent.
- MRF, Ashok Leyland, and Eicher Motors boosted the Nifty Auto index by 0.5 percent.
- Sintex Corporate House is purchased by Infibeam Avenues from Aavas Trust for Rs 100 crore.
- The BSE Power index rose 1%, driven by BHEL, JSW Energy, and Tata Power:
- The BSE Realty index increased by 1%, led by Macrotech Developers, Oberoi Realty, and Godrej Properties:
- With lower input costs, Godrej Consumer Products’ Q2 earnings increased 20.6% year on year to Rs 433 crore.
- On the last day, the Mamaearth IPO was subscribed to 1.24 times, and the QIB part was booked 1.86 times.
- Dollar falls as traders expect US interest rates to peak, with all eyes on the Bank of England.
- Dabur India’s net profit for the second quarter was Rs 515 crore, with revenue of Rs 3,204 crore.
- Karnataka Bank falls 4% after net profit falls 19% year on year in Q2FY24.
- TCS introduces a next-generation AI-powered cyber analytics platform on Amazon Security Lake.
- Bajaj Finance would issue 15.5 lakh warrants to Bajaj Finserv valued Rs 1,188.9 crore.
- Bondada Engineering receives a work order from Bharat Sanchar Nigam worth Rs 381 crore.
- Zurich Insurance will purchase a 51% stake in Kotak General Insurance for Rs 4,051 crore.
- Siddhivinayak Realties, a subsidiary of DB Realty, is sold to Reliance Commercial Fin for Rs 376.18 crore.
- Coal India’s October output increased by 15.4% to 61.1 mt from 52.9 mt, while offtake increased by 14.8% to 61.6 mt from 53.7 mt, YoY.
- PSP Projects’ net profit in the second quarter increased by 79.1% to Rs 38.50 crore.
- According to Eicher Motors, Royal Enfield sales increased 3% year on year to 84,435 motorcycles in October.
- Hero MotoCorp’s second-quarter profit increased 47% year on year to Rs 1,054 crore.
- SBI raises Rs 10,000 crore with its first Basel III compliant Tier 2 bond for fiscal year 24.
- LIC Housing Finance’s second-quarter earnings exceeded expectations. Profit nearly quadruples at Rs 1,188 crore.
- Hero MotoCorp’s second-quarter profit increased 47% year on year to Rs 1,054 crore.
- GMDC’s second-quarter earnings fell 50% year on year to Rs 76 crore, while revenue fell 29%.
- Tata Steel reports a Rs 6,511 crore loss in the second quarter, with revenue falling 7%.
- Britannia Industries’ second-quarter profit rises 19.6% year on year to Rs 586.5 crore.
- Orient Green Power’s net profit more than doubles to Rs 75 crore in the second quarter.
- Wheels India intends to establish wholly-owned subsidiaries in the United States and Europe to capitalize on growth opportunities.
- JK Tyre’s net profit in the second quarter increased fivefold to Rs 249 crore.
- TVS Motor Co sales increased 21% in October to 4,34,714 units.
- BPCL will provide propane to Gail’s planned Maharashtra petrochemical plant.
- L&T hopes to sell its interest in Hyderabad Metro in 2.5 years, according to its CFO.
- SpiceJet adds five leased Boeing 737s to its fleet ahead of the winter rush.
- ASK Automotive is planning an IPO with a price range of Rs 268-282 per share in order to raise Rs 834 crore.
| SENSEX | +489.57 | +0.77% |
64,080.90 |
| NIFTY50 | +144.10 | +0.76% | 19,133.25 |
| BANK NIFTY | +316.25 | +0.74% | 43,017.20 |
INDIAN MARKET MOVERS
| Britannia | 129.95 2.96% | Hero Motocorp | -40.35 -1.30% |
| Hindalco | 11.50 2.49% | Tech Mahindra | -9.60 -0.85% |
| IndusInd Bank | 28.60 2.00% | Bajaj Auto | -25.95 -0.49% |
| Apollo Hospital | 90.45 1.89% | Bajaj Finance | -22.80 -0.31 % |
| Eicher Motors | 56.05 1.71% | ONGC | -0.50 -0.27 % |
News Updates
GST collections rise to second-highest ever at Rs 1.72 lakh crore in October, up 13% YoY
The Indian government’s Goods and Services Tax (GST) collections reached Rs 1.72 lakh crore in October, a 13% YoY increase. This marks the second-highest revenue collection ever, second only to April 2023. The average gross monthly GST collection in FY 2023-24 is now at Rs 1.66 lakh crore, an 11% YoY increase. The October GST collections are 5.71% higher than September, marking the eighth consecutive month that the monthly GST collection has surpassed the Rs 1.5 lakh crore mark. The finance ministry reported the increase in revenue from domestic transactions.
Rupee falls 9 paise to close at all-time low of 83.33 against US dollar
The rupee depreciated by 9 paise to close at an all-time low of 83.33 against the US dollar on Wednesday, following a strong greenback against major overseas rivals and unabated foreign capital outflows. A negative trend in domestic equities and elevated crude oil prices amid geopolitical uncertainty in the Middle East weighed on investor sentiments, according to forex traders. The rupee opened at 83.26 against the dollar and reached intra-day lows of 83.35 and 83.26 against the American currency. On Tuesday, it settled at 83.24 against the American currency. Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas, said traders may take cues from manufacturing PMI from India and ADP non-farm employment, JOLTS job opening, and ISM manufacturing PMI data from the US. Investors may remain cautious ahead of the FOMC meeting tonight. The USD/INR spot price is expected to trade in a range of Rs 83-83.60.
Indraprastha Gas Q2: Net profit increases 30% to Rs 553 crore
Indraprastha Gas Ltd reported a 30% increase in consolidated net profit to Rs 553 crore for the second quarter of fiscal year 2023-24. The city gas distribution company had a net profit of Rs 427 crore in the year-ago period. The quarterly profit marginally increased to Rs 522 crore in the quarter ending June 30, according to an exchange filing by Indraprastha Gas. However, the company’s revenue from operations fell from Rs 3,922 crore in the same period last year. The board of directors declared an interim dividend of Rs 4 per share.
Sun Pharma Q2 results: Net profit up 5% at Rs 2375 crore, beats estimate
Sun Pharma reported a 5% year-on-year increase in consolidated net profit to Rs 2,375.5 crore for the July-September quarter of the current financial year, beating estimates. The company’s profit was Rs 2,262.22 crore in the same period last year. Revenue rose to Rs 12,192 crore, a 11.3 percent increase from the year-ago quarter numbers of Rs 10,952.3 crore.
Ambuja Cements Q2 net profit jumps 9-fold to Rs 793 crore
Ambuja Cements reported a consolidated net profit of Rs 792.96 crore in Q2, a nearly nine-fold increase from the same quarter last year. The company’s revenue from operations reached Rs 7,423.95 crore, up 4.10 percent from the previous quarter. The company’s EBITDA stood at Rs 1,302 crore, up by Rs 975 crore, driven by operational excellence and cost-saving projects. The EBITDA margin expanded by 12.9 percentage points from 4.6% to 17.5%. Ambuja Cements’ business performance improved due to operational excellence, supply chain management, sales and marketing excellence, and adjacency benefits with Group companies. The company’s whole-time director and CEO, Ajay Kapur, attributed the growth to strong demand for its premium cement products.
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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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