Stock Market News🇮🇳

2024-05-16 07:43:10 on the #NSE, #Block of 737691 shares at Rs. 640 worth 47.21 crore rupees at  9:39 AM

   on the #NSE, #Block of 2117734 shares at Rs. 235 worth 49.77 crore rupees at  9:33 AM

   on the #NSE, #Block of 76469 shares at Rs. 1667 worth 12.75 crore rupees at  9:31 AM

on the #NSE, #Block of 5175610 shares at Rs. 23.05 worth 11.93 crore rupees at  9:29 AM ओपन / कमेंट

2024-05-16 06:16:51 Stock In News Today

LIC Housing Finance (Consolidated, YoY)
NII up 12.4% to Rs 2,237.6 crore
Net profit down 7.6% to Rs 1,090.8 crore
Tax costs up 46% to Rs 385.4 crore
Board recommended dividend of Rs 9 per share
Note: Impairment on financial instruments rose to Rs 427.9 crore
Jindal Stainless (Consolidated, YoY)
Revenue down 3.2% to Rs 9,454 crore; Net profit down 34.6% to Rs 500.7 crore; EBITDA down 9.5% to Rs 1,035.2 crore; Board recommended dividend of Rs 2 per share
Mankind Pharma (Consolidated, YoY)
Revenue up 13.3% to Rs 121.3 crore; Net profit up 9.4% to Rs 96.7 crore; Board approved raising Rs 7,500 crore via QIP
Mankind Pharma (Consolidated, YoY)
Revenue up 13.3% to Rs 121.3 crore; Net profit up 9.4% to Rs 96.7 crore; Board approved raising Rs 7,500 crore via QIP
Indian Energy Exchange (Consolidated, YoY)
Revenue up 19% to Rs 2,441 crore; Net profit up 62% to Rs 477 crore; Board approved final dividend of Rs 1.50 per share
CMS Info Systems (Consolidated, YoY)
Revenue up 25% to Rs 627 crore; Net profit up 14.4% to Rs 91.4 crore; Board recommended final dividend of Rs 3.25 per share
MOIL (Consolidated, YoY)
Revenue down 2.8% to Rs 415.9 crore ; Net profit up 12.6% to Rs 91.1 crore
NLC India (Consolidated, YoY)
Revenue up 31% to Rs 3,540.6 crore; Net profit down 86.2% to Rs 114.2 crore; Board recommended final dividend of Rs 1.5 per share
NCC (Consolidated, YoY)
Revenue up 31% to Rs 6,485 crore; Net profit up 25.3% to Rs 239.2 crore
Honeywell Automation (Consolidated, YoY)
Revenue up 12% to Rs 950.7 crore; Net profit up 32.3% to Rs 148.2 crore
Mahindra and Mahindra
NCLT approved the scheme of merger by absorption of Mahindra Heavy Engines, Mahindra Two Wheelers & Trringo with M&M.
Quick Heal Technologies
The company partnered with Europe-based EET Group for cybersecurity solutions
Aadhar Housing Finance
Akash Bhanshali and Blue Daimond Properties picked Rs 142.65 crore worth of shares in the company. ओपन / कमेंट

2024-05-10 05:38:07 Looking Good For Short Terms:-

Sun TV Network: Buy | LTP: Rs 656.80 | Stop-Loss: Rs 602 | Target: Rs 785 | Return: 20 percent
Despite overall market downturn, Sun TV Network demonstrates notable resilience, displaying a strong trend. Weekly price analysis indicates a robust structure, breaking out of a flag & pole pattern with increasing volume participation.
On the daily chart, rapid retracement is evident, with a six-day decline swiftly retraced in just two days, accompanied by significant volume surge, reflecting a sturdy price foundation.
MACD (moving average convergence divergence) analysis further supports the bullish sentiment, with a weekly bullish crossover and sustained positivity across all timeframes, signaling a strengthening positive momentum.

Godfrey Phillips India: Buy | LTP: Rs 3,448.75 | Stop-Loss: Rs 3,183 | Target: Rs 4,082 | Return: 18 percent
Godfrey Phillips price structure displays resilience, with a clear uptrend following a prolonged consolidation phase from the year 2015 to 2022. Consistent formation of higher highs and higher lows indicates a positive trajectory.
On a daily scale, the stock demonstrates notable relative strength compared to the broader market. Mean reversion dynamics are evident, with reliable bounces from key moving averages like the 13-week and 50-week exponential moving averages (EMA), reinforcing the positive trend.
The ADX (average directional index) study further validates the breakout's strength, with ADX rising alongside price movements and exceeding 50. Additionally, the positive directional indicator (+DI) surpasses 25, indicating robust bullish momentum.

Tata Motors: Buy | LTP: Rs 1,030.3 | Stop-Loss: Rs 950 | Target: Rs 1,215 | Return: 18 percent
Despite market volatility, Tata Motors maintained a robust upward trajectory since April 2023, nearing its all-time high. It has successfully held key support levels throughout.
A volatility contraction pattern has emerged on the daily charts, suggesting a potential breakout that could fuel further momentum.
On a weekly basis, the stock comfortably resides above critical averages such as the 13-week and 26-week EMA, signaling a positive trend. Stochastic analysis indicates an uptrend, signaling a pickup in momentum.

STOCK IN NEWS

Bharat Petroleum Corporation Limited: The company reported on May 9 a consolidated net profit of Rs 4,789.57 crore in Q4 FY24, a decline of 30 percent YoY. BPCL's revenue from operations declined marginally to Rs 1.32 lakh crore in the same period. The company's board recommended the issue of bonus shares in the ratio of 1:1.

Suryoday Small Finance Bank: The bank reported a 56.3 percent YoY increase in net profit at Rs 60.8 crore in Q4 FY24. The gross non-performing assets (GNPA) stood at 2.94 percent in the March quarter against 3.06 percent in the December quarter. Provisions stood at Rs 48.2 crore against Rs 37.9 crore QoQ and Rs 51.5 crore YoY. The bank's provision coverage ratio during the quarter was 71.2 percent.

Solara Active Pharma Sciences: The company approved a rights issue to raise Rs 449.95 crore. The rights shares are priced at Rs 375 per equity share, which includes a premium of Rs 365 per equity share, the company said in a regulatory filing. The issue is scheduled to open on May 28, 2024, and will close on June 11, 2024.

Abott India: The company reported a 24 percent YoY growth in net profit at Rs 287 crore in Q4 FY24. The company's revenue increased 7 percent to Rs 1,439 crore from Rs 1,343 crore in the year-ago period. Abott India's board recommended the payment of a final dividend of Rs 410 per equity share of Rs 10 each for the year ended March 31, 2024, subject to shareholders' approval.

ADF Foods: ADF Foods' revenue from operations was Rs 153 crore in Q4 FY24 as compared to Rs 123 crore in the same quarter of the previous year. Profit after tax increased to Rs 25 crore in Q4 FY24 as compared to Rs 16 crore in the same quarter the previous year. ओपन / कमेंट

2024-05-06 05:41:38 STOCK TO WATCH

Titan Company: The jewellery and watch maker recorded a standalone net profit of Rs 786 crore for the quarter ended March FY24, growing 7.1 percent over the corresponding period of the previous fiscal year, impacted by a weak operating margin. Revenue from operations for the quarter, at Rs 11,257 crore, increased by 16 percent over the same period in the in the previous fiscal. The company announced a dividend of Rs 11 per share for FY24 and re-appointed C. K. Venkataraman as Managing Director with effect from October 1 this year.

Tata Power Company: Subsidiary Tata Power Renewable Energy has signed a power purchase agreement with PSU company SJVN to set up a 460 MW Firm and Dispatchable Renewable Energy (FDRE) project. The plant will generate nearly 3,000 million units (MUs) of power and offset 2,200 million kg of CO2 emissions annually, while FDRE enables round-the-clock power supply, assisting distribution companies in fulfilling renewable purchase obligations, and energy storage obligations.

Dr. Reddy's Laboratories: The pharma company launched Doxycycline capsules, 40 mg, in the US market. The drug is a therapeutic generic equivalent of Oracea capsules approved by the US Food and Drug Administration. Doxycycline capsules are used for the treatment of infections caused by bacteria.

HDFC Bank: The Reserve Bank of India has approved the re-appointment of Atanu Chakraborty as the part-time chairman of HDFC Bank for three years, with effect from May 5 this year.

BSE: Girish Joshi has resigned from the post of Chief Listing and Trading Development of the company, with effect from August 2 this year.

Tata Technologies: The global product engineering and digital services company has reported consolidated net profit of Rs 157.2 crore for the March FY24 quarter, declining 27.4 percent over the same period in the in the previous fiscal year despite a healthy operating margin impacted by weak topline. Revenue from operations fell 7.2 percent on-year to Rs 1,301 crore for the quarter, while EBITDA during the same period declined 1.1 percent to Rs 240 crore and margin expanded 110 bps to 18.4 percent. The company announced a total dividend of Rs 10.05 per share, including a special dividend of Rs 1.65 per share.

IDBI Bank: The lender has recorded net profit at Rs 1,628 crore for the quarter ended March FY24, growing 44 percent over the year-ago period on a 58 percent decline in provisions. Net interest income grew by 12 percent year over year to Rs 3,688 crore for the quarter, with net interest margin declining 10 basis points to 4.91 percent. Asset quality was stable during the quarter, with gross NPA falling 16 bps sequentially to 4.53 percent and net NPA unchanged at 0.34 percent QoQ.

Inox Wind Energy: The company has reported consolidated net profit of Rs 38.88 crore for the March FY24 quarter, against a loss of Rs 109.5 crore in the corresponding period of the previous fiscal year, with a strong topline. Revenue from operations surged by 184 percent YoY to Rs 528.5 crore for the quarter.

Yes Bank: Foreign investor Goldman Sachs (Singapore) Pte. Ltd. (ODI bought 36,92,43,945 equity shares (equivalent to 1.22 percent of paid-up equity) in the bank at an average price of Rs 24.26 per share, valued at Rs 895.78 crore. However, foreign investor CA Basque Investments sold 59.4 crore equity shares (1.97 percent of paid-up equity) in the bank at an average price of Rs 24.27 per share, which amounted to Rs 1,441.63 crore. As of March 2023, CA Basque Investments had a 9.11 percent stake in Yes Bank. ओपन / कमेंट

2024-05-03 05:42:48 STOCK TO WATCH

Bayer acquires remaining 25% stake in Bayer Zydus Pharma

Pharma majors Bayer Pharmaceuticals Private Limited and Zydus Lifesciences Limited (formerly Cadila Healthcare) on May 2 announced the conclusion of their joint venture (JV) - Bayer Zydus Pharma Private Limited (BZPPL). The announcement came after Bayer acquired the remaining 25 percent stake in Bayer Zydus Pharma to secure full ownership.
The 50:50 joint venture was established on January 28, 2011, for the sales and marketing of pharmaceutical products in India. Bayer is now securing full ownership of the entity, as per pre-agreed JV terms.
The JV successfully leveraged the strengths of both companies to better serve the fast-growing Indian market, said the company in a release.

Adani Enterprises received 2 show cause notices from Sebi

Adani Enterprises Ltd on Thursday said that the company received two show cause notices from markets regulator Securities and Exchange Board of India (Sebi) as part of its ongoing investigation in Hindenburg's report against the conglomerate.
In its Q4 earnings release, Adani Enterprises said that during the quarter ended March 31, 2024, the company received notices from Sebi alleging non-compliance with provisions of the Listing Agreement and LODR (Listing Obligations and Disclosure Requirements) Regulations pertaining to related-party transactions with respect of certain transactions with third parties as well as the validity of peer review certificates of statutory auditors with respect to earlier years.

Coal India Q4 net profit rises 26% to Rs 8,640.5 crore

Coal India Ltd (CIL) on May 2 reported a 26-percent rise in consolidated net profit at Rs 8,640.5 crore for the quarter ended March 31, 2024. The government-owned company had reported a net profit of Rs 6,869.5 crore in the year-ago period.
There was rise in CIL's bottom line despite its revenue from operations falling nearly 2 percent to Rs 37,410.4 crore in the quarter under review, from Rs 38,152.3 crore in the same quarter last year.
Moreover, CIL's consolidated sales also fell to Rs 39,654.4 crore in the January-March period from Rs 40,371.5 in the corresponding period of the previous fiscal year, a decrease of 1.8 percent.
The state-owned company also said that the board has declared its third interim dividend for the financial year 2023-24 at Rs 5 per share.

Coforge to buy 54% in Cigniti Technologies at Rs 1,415 per share
Coforge is set to acquire a 54-percent stake in Cigniti Technologies at Rs 1,415 per share, the company informed the exchanges on May 2.
The share price of Rs 1,415 represents a premium of 3 percent over Cigniti's May 2 closing price of Rs 1,372.65 on the BSE.
The firm, which has signed a definite agreement with the IT services management company, believes the acquisition will improve company's operating margins by 150-200 bps by FY27 and help it grow to a $2-billion company. ओपन / कमेंट

2024-04-29 06:10:14 Net interest income jumped 24 percent year-on-year to Rs 4,469 crore for the quarter. There was a nice improvement in the asset quality of the bank as the gross NPA dropped 16 bps QoQ to 1.88 percent and the net NPA fell 8 bps sequentially to 0.60 percent for the quarter.
Ircon International: The company, under its joint venture with Dineshchandra R. Agrawal Infracon (DRA), has received the letter of award for the construction of the Kottavalasa-Koraput doubling project of Waltair division, East Coast Railway, on EPC mode, at a price of Rs 1,198.09 crore.
Patanjali Foods: The FMCG company said the board discussed the initial proposal received from Patanjali Ayurved (PAL) for a sale of PAL's non-food business undertaking to the company and gave in-principle approval for evaluating the most efficient mode of enhancing synergies with PAL's non-food portfolio in any manner on an arm's length basis.
Yes Bank: The bank has reported a massive 123 percent on-year growth in net profit at Rs 452 crore for the quarter ended March FY24, partly supported by higher other income and lower provisions. Net interest income grew by 2.3 percent to Rs 2,153 crore during the same period. The asset quality of the bank has seen significant improvement during the quarter, with the gross NPA falling 30 bps QoQ to 1.7 percent and the net NPA declining 30 bps sequentially to 0.60 percent.
NBCC: The construction company has received in-principle approval for the incorporation of a wholly owned subsidiary in Dubai (UAE). This is subject to the approval of its administrative ministry, i.e., the Ministry of Housing and Urban Affairs (MoHUA).
Indiabulls Real Estate: The real estate firm has posted a net loss of Rs 302 crore for the quarter ended March FY24, narrowing from a loss of Rs 376 crore in the corresponding period of the previous fiscal. Revenue from operations dropped 80.6 percent year over year to Rs 21 crore during the quarter.
SBI Cards and Payment Services: The non-banking finance company registered net profit of Rs 662 crore for the March FY24 quarter, growing 11 percent over the same period in the in the previous fiscal year, driven by strong operating numbers. Revenue from operations for the quarter at Rs 4,348 crore increased by 15.6 percent YoY. ओपन / कमेंट

2024-04-29 06:10:14 STOCK TO WATCH:-

Maruti Suzuki India: The country's largest car maker has recorded a standalone net profit of Rs 3,878 crore for the quarter ended March FY24, growing 47.8 percent over a year-ago period, partly driven by strong operating numbers and higher other income, but overall numbers are below analysts' expectations. Revenue from operations grew by 19.3 percent on-year to Rs 38,235 crore, with sales volume rising 13.4 percent to 5.84 lakh units during the same period. EBITDA increased by 40 percent year-on-year to Rs 38,235 crore with a margin expansion of 170 bps at 12.2 percent in the quarter. The company has recommended the highest-ever dividend of Rs 125 per share for FY24.
Vodafone Idea: ATC Telecom Infrastructure has exited the telecom operator by selling its entire shareholding of 144 crore equity shares (equivalent to 2.87 percent of paid-up equity) at an average price of Rs 12.78 per share via open market transactions, valued at Rs 1,840.3 crore. However, Citigroup Global Markets Mauritius has net bought 48,13,75,145 equity shares in Vodafone at an average price of Rs 12.7 per share.
HCL Technologies: The global IT services company has reported a net profit of Rs 3,986 crore for the March FY24 quarter, falling 8.4 percent over the previous quarter impacted by weak operating numbers, and overall numbers came in below analysts' estimates. Revenue from operations grew by 0.2 percent sequentially to Rs 28,499 crore for the quarter, while dollar revenue growth stood at 0.4 percent and revenue in constant currency terms grew by 0.3 percent QoQ. The board has declared an interim dividend of Rs 18 per share for FY24. HCL Tech sees revenue growth in constant currency terms in the range of 3-5 percent for FY25 and an EBIT margin of 18–19 percent.
SBI Life Insurance Company: The insurance company has recorded net profit at Rs 810.8 crore for the January–March FY24 quarter, growing 4.4 percent over the year-ago period. Net premium income for the quarter grew by 26.2 percent year-on-year to Rs 25,116.5 crore, and net commission at Rs 851.4 crore declined by 2.3 percent during the same period.
ICICI Bank: The private sector lender has recorded standalone net profit at Rs 10,707.5 crore for the quarter ended March FY24, growing 17.4 percent over a year-ago period on lower provisions for bad loans. Overall, earnings were ahead of analysts' estimates. Net interest income grew by 8.07 percent year over year to Rs 19,093 crore for the quarter. Asset quality improved with the gross NPA declining 14 bps sequentially to 2.16 percent and the net NPA falling 2 bps to 0.42 percent in Q4 FY24.
RBL Bank: The private sector lender has reported standalone net profit of Rs 353 crore for the March FY24 quarter, rising 30 percent over the same period in the in the previous fiscal year with lower provisions and a sharp increase in operating profit and other income. Net interest income grew by 18 percent year-on-year to Rs 1,600 crore for the quarter, with net interest margin declining 17 bps YoY (down 7 bps QoQ) to 5.45 percent. Asset quality improved as the gross NPA was down 47 bps QoQ at 2.65 percent and the net NPA declined 6 bps at 0.74 percent in Q4 FY24.
Apollo Hospitals Enterprise: Apollo HealthCo (Apollo 24/7, or AHL), a subsidiary of Apollo Hospitals Enterprise, has entered into a binding agreement to raise equity capital of Rs 2,475 crore from global private equity investor Advent International. In addition, Apollo 24/7 will merge Keimed, the wholesale pharma distributor, with itself in a phased manner over the next 24–30 months. Advent will invest in compulsory convertible instruments in two tranches to secure a 12.1 percent stake in the merged entity by valuing the combined entity at an enterprise value of Rs 22,481 crore.
IDFC First Bank: The lender has registered net profit at Rs 724 crore for the March FY24 quarter, falling 9.8 percent compared to the corresponding period of the of the previous fiscal year, impacted by higher provisions. ओपन / कमेंट

2024-04-15 06:11:53 STOCK IN ACTION 15 APRIL

Power Grid Corp: The company will consider raising up to Rs 12,000 crore via NCDs on a private placement basis in a board meeting on April 17.

Patanjali Foods: The company said segmental volume in Q4 experienced mid-single-digit growth (YoY) and revenue from the edible oil segment in Q4 showed modest single-digit growth compared to the previous quarter.

Reliance Power: The company has transferred its 45 MW wind power project located in Maharashtra to JSW Renewable Energy for a consideration of Rs 132.39 crore.
Ami Organics: The company approved the raising of funds up to Rs 500 crore through QIP.

Engineers India: The company signed an MoU with Detect Technologies for Al-based monitoring of construction sites.

ISMT: The company received two orders worth Rs 343.7 crore from ONDC for the supply of casing pipes.

Zuari Industries: NCLT gave the nod to merge Zuari Sugar and Power with the company.

Bharti Hexacom: Sanjeev Kumar and Surajit Mandol resigned from the board effective today.

Granules: U.S. FDA inspected at Andhra Pradesh facility between April 8-12 and ended with zero observations.

Rail Vikas Nigam: The company received a letter of acceptance for works in connection with new line project of Araria - Galgalia of N.F. Railway. The project cost is Rs 95 crore.

Zaggle Prepaid: The company signed an agreement with Eversub India to provide employee expense & benefits management platform Zaggle Save.

Mphasis signs strategic collaboration agreement with AWS to launch Gen AI foundry for financial services


Coforge shareholders approve fundraise via QIP or issuance of shares, other securities

Bharti Hexacom: Sanjeev Kumar & Surajit Mandol resigns from co’s board w.e.f. April 12, 2024. Resigns due to termination of shareholders agreement upon the consummation of the IPO of the company.

AirIndia temporarily suspends flights to Tel Aviv, says official

Aster DM's board declares special dividend of ₹118/share ओपन / कमेंट

2024-04-10 05:56:58 STOCKS IN ACTION 10 APRIL

One 97 Communications: Surinder Chawla, MD and CEO of Paytm Payments Bank, has resigned effective June 26.

Paisalo Digital: The company's AUM grew by 32% YoY to Rs 4,622 crore in the foruth quarter, while disbursements jumped 38% to Rs 3,588 crore.

Lupin: The company launched first generic version of Oracea in the U.S.

Avenue Supermarts: The company opened a new store in Bengaluru. The total number of stores as on date stands at 366.

Gateway Distriparks: Sikander Yadav resigned as Chief Financial Officer due to personal reasons.

Insolation Energy: The company reported FY24 consolidated revenue up 164% YoY at Rs 738.8
crore.

Shyam Metallics: The company announced the establishment of a new stainless-steel hot rolled coils facility at its existing plant in Odisha.

Shoppers Stop: The company has collaborated with EaseMyTrip for sponsored holidays.

Rattan India Power: Manish Ratnakar Chitnis has been appointed as CFO after Ankur Mitra resigned.

ICIcI Prudential: The company received GST order worth of Rs 20.5 crore from Gujarat tax authorities for FY19.

Exide Industries: The company to acquired 26% stake in Clean Max Arcadia for Rs 5.3 crore.

PB Fintech: The company incorporated a wholly owned subsidiary PB Pay Pvt.

Welspun Living: NCLT has approved the scheme of amalgamation of 5 wholly owned subsidiaries with company.

Aditya Birla Fashion: incorporates new company ‘Aditya Birla Lifestyle Brands’

JSW Energy: aims to reach 20GW capacity ahead of its 2030 target ओपन / कमेंट

2024-04-08 07:35:46 #JustIN | Som Distilleries commences commercial production of increased capacity at Karnataka plant ओपन / कमेंट