Stock Market Live: GIFT Nifty Near 24,800; Hyundai, Bajaj Housing, Eicher Motors Share Prices In Focus

The yield on the 10-year bond opened flat at 6.84%. It closed at 6.83% on Monday, according to data on Bloomberg.

Rupee opened flat at 84.06 against the US dollar. It closed at 84.07 on Monday, according to data on Bloomberg.

UBS Global Research maintains a 'Buy' and raised the target price Rs 8,000 from Rs. 5,000. The current price implied a 22% upside from Monday's closing price.

Exponential growth and new product launches like monthly gold options are catalysts

In the last 12months, earnings estimates have risen by 60% & 75% for FY25 and FY26

Q2 performance strong, Q3 looking better

Volumes and premium increase driving better revenue

Electricity derivatives and other products still under development

Value at 40x FY27E EPS

Risks: regulatory measures, product approval delays, malfunction to platform

Wipro Ltd. partnered with Ericsson billing platform to transform Odido's billing experience for customers, it said in an exchange filing.

• Jefferies maintains 'Buy' on UltraTech Cement Ltd. which cut target to Rs 12,500, which implied a 15% upside

• The September quarter Ebitda weakness reflects impact of price weakness

• Jefferies believe multi-year Ebitda/tonne low has likely bottomed out

• - Believe H2 volumes & profitability will be better

• The company is better places vs peers with cost saving efforts

• Sharply cut Ebitda estimate by 7-14%

• Jefferies expects Ebitda per tonne of Rs 1000/1120-1220 for FY25/FY26-27

Bajaj Housing Finance Ltd. share price is expected to react in Tuesday's session as the company reported a 21% growth in its net profit from July–September. The net profit rose on the year to Rs 546 crore during the second quarter. To know about Bajaj Housing Finance Ltd.'s Q2 earnings click here.

• Initiates coverage with Buy at target price Rs 2,472, which implied an upside of 19.6%

• Ongoing premiumization should drive high quality growth

• Long runaway for India car industry with current penetration at 36/1000

• Estimate India's PV Industry to sustain healthy volume CAGR 6-8% over 5-10 years

• Customers becoming more aspirational and willing to pay more for features

• Hence believe ASPs should continue to rise by 3-5%

• Poised for long term growth with SUV mix at 67%, improving ASP & market share

• Believe Co is best positioned in PV OEM Coverage to handle tech transitions

• Hyundai been consistently been able to predict consumer shift like towards SUVs

• Having Indian management on board is a key advantage

• Estimate Co to deliver 8% volume growth CAGR over FY25-27 driven by 7-8 models

• EBITDA Margins expected to improve to 14% by FY27 vs 13.1% in FY24

• Overall estimate Hyundai to deliver 17% earnings CAGR over FY25-27

• Estimate stock at 25x FY27 P/E

Gold prices stopped its record rally on Tuesday as a rise in US Treasury yields and dollar index reduced its charm to the investors. The prices were hitting record high since Thursday.

Gold December future was trading 0.14% higher at $2,742.80 an ounce as of 07:31 a.m.

The benchmark 10–year US Treasury note surged 2.74% to 4.20%, touching the highest level since July 26, according to data on Bloomberg. The safe–haven rose as the Federal Reserve Bank of Kansas City President Jeffrey Schmid said that he favoured the slower pace of rate cuts.

Further, Minneapolis Fed President Neel Kashkari said the long–term trajectory of rates could be higher.

The yield on the 10–year US Treasury note was trading 0.06% higher at 4.19 as of 7:16 a.m. IST

Asia–Pacific share indices declined on Tuesday, taking cues from overnight development on Wall Street. The Federal Reserve officials in different events on Monday noted that the US economy remained resilient and path forward to monetary easing likely to be gradual.

The Nikkei 225 was trading 1.85% down at 38,246.52, and the S&P ASX 200 was 1.35% down at 8,234.60 as of 07:06 a.m.

US stock indices ended on a mixed note on Monday after the Federal Reserve officials' comment suggested that the monetary easing is likely to be gradual going forward.

The S&P 500 and Dow Jones Industrial Average ended 0.18% and 0.80% down, respectively. The Nasdaq Composite ended 0.27% higher.

The GIFT Nifty was trading near 24,800. Bajaj Housing Finance Ltd., Cyient DLM Ltd. share prices are likely to move as they released their quarterly results on Monday. Moreover. Eicher Motors Ltd. Shriram Finance Ltd. share prices will also be monitored by investors for the recent development. Hyundai Motor India Ltd. will be in traders' focus as the shares list on exchanges today.

The GIFT Nifty was trading 10.50 points, or 0.04%, higher at 24,790.50 as of 06:31 a.m.

The NSE Nifty and BSE Sensex ended lower on Monday, tracking a fall in Kotak Mahindra Bank Ltd. and Infosys Ltd. share prices. Nifty ended 0.29% or 72.95 points down at 24,781.10 and Sensex lost 0.09% or 73.48 points to close at 81,151.27.

Domestic market started the week on a subdued note with weak results from index heavyweights like Kotak Mahindra Bank Ltd., Tata Consumer Products Ltd. and UltraTech Cement Ltd. dragging the indices lower. On the positive side, HDFC Bank Ltd. reported steady numbers which limited the downside. Overall Motilal Financial Services Ltd. expects the market to remain under pressure led by persistent FII selling and muted domestic earnings, said Siddhartha Khemka, head-research, wealth management.