Stock Market Live: Ola Electric Mobility Share Price Slumps To Nearly Two–Month Low
Ola Electric Mobility share price declined 8.87% to Rs 90.26 apiece, the lowest level since Aug 9. The stock was trading 8.43% down at Rs 90.70 apiece as of 10:46 a.m.
Business Update Q2: Bank Of India (YoY)
Global Business rose 12% at Rs 12.5 Lakh Crore
Global Deposits rose 10.2% at Rs 7.03 Lakh Crore
Global Gross Advances rose 14.4% at Rs 5.43 Lakh Crore
Domestic Deposits rose 12.3% to Rs 5.98 Lakh Crore
Domestic Advances rose 14.9% to Rs 4.53 Lakh Crore
Source: Exchange filing
Stock Market Live: Macrotech Developers Share Price Rises Over 4%
Macrotech Developers Ltd., commonly known as Lodha, rose 4.16% to Rs 1,222.00. The stock rose as Lodha reported 21% rise in sale bookings in July–Sept. Its sales bookings rose to Rs 4,290. Its customer collection rose 11% during the quarter.
Macrotech Developers share price was trading 3.20% higher at Rs 1,210.75 as of 10:21 a.m.
Hitachi Energy Plans To Invest Rs 2,000 Crore
Hitachi Energy India Ltd. planed to invest Rs 2,000 crore in expanding capacity, portfolio, and talent base, to drive sustainable energy future in India, it said in an exchange Filing.
Eraaya Lifespace's Arm Ebix Cash Secures Contract Worth Rs 138.8 Crore
Eraaya Lifespaces Ltd.'s arm Ebix Cash secured major contract worth Rs 138.8 crore with Punjab National Bank for Network Integrating Services, said in an exchange Filing.
Stock Market Live: Titan Share Price Declines To Over One-Month Low
Titan Co. Ltd. share price declined 2.98% to Rs 3,578.00, the lowest level since Sep 3. The stock has been declining since Oct 1. It was trading 2.54% down at Rs 3,576.95 as of 10:02 a.m., as compared to 0.11% advance in the NSE Nifty 50 index.
The stock failed to arrest its fall despite its positive business update for the July–Sept quarter.
Titan Co. Ltd. share price declined 2.98% to Rs 3,578.00.
Titan Co. Ltd. share price declined 2.98% to Rs 3,578.00.
Stock Market Live: HeidelBergCement Share Price Jumps To Nearly Three-Year High
HeidelbergCement India Ltd. share price jumped 17.93% to Rs 258, the highest level since Oct 19, 2021. The share price jumped after news report said that the Adani Group Companies is likely in talks to acquire the company.
The share price was trading 16.35% higher at Rs 254.35 as of 09:48 a.m., as compared to 0.09% advance in the NSE Nifty 50 index.
HeidelbergCement India Ltd. share price jumped 17.93% to Rs 258, the highest level since Oct 19, 2021.
HeidelbergCement India Ltd. share price jumped 17.93% to Rs 258, the highest level since Oct 19, 2021.
Stock Market Live: NBCC Share Price Snaps Two-Day Decline As It Turns Ex–Bonus
NBCC (India) Ltd. share price snapped a two-day decline on Monday as it turned ex–bonus. The board of the company approved to issue bonus shares in a 1:2 ratio, meaning shareholders will one-fully paid-up equity share of Rs 1 for every two existing fully paid–up shares held on record date.
Jio Finance Share Price Rises As SEBI Permits To Set Up Mutual Fund With BlackRock
Jio Financial Services Ltd. share price rose nearly 3% on Monday after the company and BlackRock received the Securities Exchange Board of India's nod to set up proposed Mutual Fund.
The share price rose as much as 2.98% to Rs 348.90 apiece, the highest level since Oct 3. It was trading 1.76% higher at Rs 344.75 apiece as of 09:32 a.m.
Jio Financial Services share price rose 2.98% to Rs 348.90 apiece.
Jio Financial Services share price rose 2.98% to Rs 348.90 apiece.
Nifty, Sensex Rebound From Five-Day Decline; Infosys, RIL Rise: Opening Bell
The NSE Nifty 50 and BSE Sensex rebounded from five-day decline at open on Monday as Infosys Ltd., and Reliance Industries Ltd. led gains. As of 09:16 a.m., the Nifty 50 was trading 123.10 points or 0.49% higher at 25,137.70, and the Sensex was trading 440.09 points or 0.54% higher at 82,128.54.
The Nifty 50 has witnessed a 4.5% correction in the current week, and we could witness some bounce from the support of 25,000 levels and on the higher side resistance is at 25,500. The first bout of resistance would be at the previous support range of 25,550 followed by 25,800 being the gap levels on the higher side. RSI has closed at the lower band of 40 level, and we have witnessed bounce in the past from these range over the past one year indicating some pullback. Highest call open interest has moved lower to 25,500 strikes while the downside the highest put OI is at 24,800 for the weekly expiry, said Vikas Jain, head, research at Reliance Securities.
Infosys Ltd., ICICI Bank Ltd., Reliance Industries Ltd., Tata Consultancy Services Ltd., and Bharti Airtel Ltd. added to the index.
Nestle India Ltd., Titan Co. Ltd., HDFC Bank Ltd., Hindustan Unilever Ltd., and Oil and Natural Gas Corp Ltd. weighed on the index.
All 12 sectors rose at open with the NSE Nifty IT leading the gain.
Broader markets rose in line with the benchmarks. The BSE Midcap was trading 0.51% higher, and the BSE Smallcap was 0.36% up.
On BSE, 17 sectors advanced, and three declined out of 20. The BSE Realty rose the most, while the BSE Consumer Durables declined the most.
Market breadth was skewed in favour of buyers. Around 1,908 stocks advanced, 1,023 stocks declined, and 173 stocks remained unchanged on the BSE.
Car Inventory Climbs To All-Time High
Car inventory climbs to an all-time high due to aggressive dispatches by carmakers ahead of festive season. Dealers saddled with 7.9 lakh cars worth Rs 79,000 crore
Unsold stock seen at 80-85 days, as on Sept. 31. Ganesh Chaturthi and Onam fails to ignite demand, FADA says
Source: FADA statement
India's Urban Retailer Faces Challenge From Rise Of E-Commerce
India's urban retailers are seeing low footfall at the stores as e-commerce grows a preferable option for consumers. Urban cities are rapidly witnessing rapid distribution channel shifts in favour of online, led by quick commerce. Read more here
Stock Market Live: Nifty, Sensex Higher At Pre–Open
The NSE Nifty 50 was trading 69.50 points or 0.28% higher at 25,084.10, and the BSE Sensex was trading 808.65 points or 0.98% higher at 81,688.45.
Yield On The 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.84%. It closed at 6.83% on Friday.
Source: Bloomberg
Rupee Opens Flat Against US Dollar
Rupee opened flat at 83.96 against the US dollar. It closed at 83.97 on Friday.
Source: Bloomberg
Watch India Market Open At NDTV Profit
Mylan Pharma & Novo Nordisk Reaches Settlement, Says Natco Pharma
Mylan Pharma and Novo Nordisk Reach Settlement On Ozempic Patent
Terms Of Settlement Are Confidential
Source: Exchange filing from Natco Pharma Ltd.
Brokerages On Kaynes Tech
Jefferies
Retain Hold with a target price Rs 4,540, which implied a downside of 13%.
The company set to acquire Iskraemeco India, a smart meter solution provider
Iskraemeco had FY24 Revenues of 65 crores up 63% yoy
Iskraemeco has smart meter for electricity, water and gas, increasing Kaynes' reach
Kaynes' present order book stands at 35 lakh meters
Industry opportunity of 11 crore smart meters
Estimate 48% EPS CAGR between FY24-27
Maintain Hold on Valuations at 73x FY26 P/E
Nomura
Retain Buy with a target price Rs 5,969, which implied an upside of 14%
The company inks pact to acquire 100% stake in Iskraemeco India for total sale consideration of Rs. 42 crore
Iskraemeco are present across Middle East and Europe
The company aims to generate 10% of consolidated FY25 revenue from smart meters
Scale up to 15% of revenues later
Nomura On HDFC Bank
Maintain neutral with a target price Rs 1,720 which implied a 3.6% upside.
Clocked healthy deposit growth at 5% QoQ
Loan to deposit ratio down 400bps QoQ
RoE improvement will be a gradual process
RoE improvement to come at the cost of loan growth
Outlook for loan growth over the medium term should stay soft
CLSA On India Microfinance
Industry collection efficiency weakened given onset of new guardrails
Asset quality sees deterioration on sequential basis
UP, Odisha, Gujarat, Jharkhand and Rajasthan reported >50bps deterioration
MFI customer's retail loans reported 32% Cagr over 1.5 years
Personal loan category more than doubled over past 1.5 years
50% of loans are for gold, housing and agriculture
Stock Market Live: Varun Beverages, IRB Infra To Consider Fundraise
Varun Beverages Ltd.'s board will consider fundraise on Oct 9 via qualified institutional placement.
IRB Infrastructure Developers Ltd. will consider fundraise on Oct 9 via QIP.
Source: Exchange filings
Stock Market Live: Macquarie Keeps 'Outperform' On Titan Shares
Macquarie's price target Rs 4,100 implied 11% Upside from Friday's close.
Pre-Q2 sales beat estimates led by 26% growth in jewellery, which implied 20% in watches
The Q2 standalone Ebitda growth expected at 9%
Build 25% sales growth, 180 basis point jewellery margin decline on weaker product mix
Business Update Q2FY25: Kalyan Jewellers
India Operations Registered Revenue Growth Of 39% YoY In Q2 FY25
Registers Same-Store-Sales Growth Of 23% YoY In Q2 FY25
Digital-First Jewellery Platform Candere Registers Revenue Growth Of ~30% YoY In Q2 FY25
Registers Consolidated Revenue Growth Of Approximately 37% YoY In Q2 FY25
Source: Exchange Filing
Stock Market Live: Gold Price Eases As Strong US Jobs Data Weights On Rate Cut Outlook
Gold prices declined on Monday as after US non-farm payroll data rose more than expected to nearly six-month high, which prompted to investors to reduce their hopes for bigger rate cuts.
The Bloomberg spot gold was trading 0.21% lower at $2,647.98 as of 07:46 a.m.
Stock Market Live: Crude Prices Ease After Posting Week In More Than Year
After posting the best week in more than a year, the prices of crude oil cooled off in early trade Monday. US President Joe Biden discouraged attacks on Tehran's crude oil field after Israel unleashed missile attack at the country for retaliation.
The crude oil was trading 0.46% lower at $77.68 a barrel as of 07:19 a.m.
Tata Steel: Q2FY25 Production and Volumes
India crude steel production stood at 5.27 million tons
Deliveries at 5.10 million tons.
Domestic deliveries up 5% YoY at 4.9 million tons, broadly in line with the production growth
Crude steel production up 5% YoY on half year basis
Indian steel capacity to hit 26.6 MTPA on ramp up of Kalinganagar facilities
Note: Figures are provisional
Japan Leads Gain In Asia As US Jobs Data Raises Hope For Soft Landing
Japan's Nikkei 225 was leading the gains in Asia–Pacific with over 2% rise. Markets in Australia and South Korea also rose on tailwinds from Friday's rally on Wall Street as health of US economy improved sentiment.
Market participants in the region await interest rate decisions from the Bank of Korea, Reserve Bank of New Zealand, and Reserve Bank of India this week.
The Nikkei 225 was trading 2.06% higher at 39,436.94 as of 06:58 a.m. The KOSPI and S&P ASX 200 were 0.74% and 0.40% higher, respectively as of 06:59 a.m.
Stock Market Live: US Stocks Close Higher Friday On Strong Jobs Report
US stocks closed higher Friday after data showed that the world's largest economy added most jobs in six months, Bloomberg reported. The US non-farm payroll, which indicates new jobs growth, increased to 254,000 in September, against 154,000 estimates by analysts. The unemployment rate declined to 4.1%.
The S&P 500 and Dow Jones Industrial Average ended 0.81% and 0.90% higher, respectively. The Nasdaq Composite ended 1.22% higher.
GIFT Nifty Trades ; BSE, GAIL, Jio Finance, Godrej Properties Share Prices In Focus
The GIFT Nifty was trading near 25,200 in wee hours of Monday trade. BSE Ltd., GAIL (India) Ltd., Jio Financial Services Ltd., and Godrej Properties Ltd. share prices are expected to react because of the news flow over the weekend.
The GIFT Nifty was trading 51 points or 0.20% higher at 25,236.00 as of 06:36 a.m.
"A break below the support level will drag the Index lower to 24,500; while on the flip side, 25,750 can be expected if the resistance gets breached. BankNifty is replicating Nifty 50 with the addition of an inverted hammer candle and a convincing close above 52,400 will confirm a bullish pattern; while 51,150-51,350 will act as a support zone," said Aditya Gaggar, director, Progressive Shares.
On Friday, the Nifty 50 and Sensex recorded their worst week in over two years as worsening geopolitical situation in the West Asia spooked investors. The benchmarks declined more than 4%, the biggest intraday fall since June 13, 2022.
The Nifty 50 closed 0.79%, or 200.25 points, lower at 25049.85, and the Sensex fell 0.98%, or 808.65 points, to close at 81688.45.
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