tock Market on 29 August 2023. | Share Market Updates – Find here all the updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets.
ALL UPDATES
- August 29, 2023 16:01
SBI to establish subsidiary at IFSC Gift City Gandhinagar
State Bank of India stated that the competent authority has accorded in-principle approval to set up a wholly owned subsidiary by SBI Funds Management Ltd at IFSC Gift City Gandhinagar subject to receipt of all regulatory approvals. The stock inches up by 0.42% on the NSE, trading at ₹575.25.
- August 29, 2023 15:43
Closing Bell: Sensex, Nifty end marginally higher; Jio Fin gains 5%
Equity benchmarks ended marginally higher on Tuesday. While Sensex gained over 77 pts or 0.12% to close at 65,075, Nifty gained 0.19% or 37 pts to end at 19,342. Reversing the initial losses, Jio Financial Services gained 5% to close at Rs 221.70 on NSE. On the other hand, Reliance Industries lost 0.89% to end at Rs 2,422. Bharti Airtel (-1.73%) was the top loser among the Nifty50 stocks. Pyramid Technoplast was listed at Rs 188 or 13% premium on the bourses.
- August 29, 2023 15:30
Stock market live updates: Fortis Healthcare gains 0.69% on NSE
Fortis Healthcare Ltd has consummated the proposed transaction for acquisition of a multi-speciality hospital situated in Gurgaon, Haryana. The stock trades at ₹334.40, up by 0.69% on the NSE.
- August 29, 2023 15:23
Stock market live updates: REC approves sale and transfer of entire shareholding of Beawar Transmission Limited
The board of REC Ltd has approved the sale and transfer of the entire shareholding of Beawar Transmission Limited, presently held by REC Power Development and Consultancy Limited (RECPDCL), wholly owned subsidiary of REC, to Sterlite Grid 27 Limited.
The stock inches up by 0.41% on the NSE, trading at ₹244.25.
- August 29, 2023 15:15
Stock market live updates: Alkosign Ltd trades at ₹122, higher by 1.01% on BSE.
The company has received in-principle approval of stock exchange for issue of up to 17,50,000 equity shares of ₹10 each to be issued at a price of ₹93 to non-promoters on a preferential basis.
- August 29, 2023 15:07
Stock market live updates: Central Bank of India has come out with issue of BASEL III Compliant Tier II Bonds on private placement basis for raising of capital of ₹1,500 crore.
The stock declines by 1.37% on the NSE, trading at ₹35.20.
- August 29, 2023 15:04
Stock market live updates: Top gainers, losers at this hour
Major gainers on the NSE at 3 pm:
Jio Financial (2.72%); Hindalco (2.17%); UPL (2.04%); Adani Ports (2.01%); Hero Motocorp (1.89%)
Major losers:
Bharti Airtel (-1.71%); Hindustan Unilever (-1.23%); Axis Bank (-1.18%); Reliance Industries (-1.15%); IndusInd Bank (-0.83%)
- August 29, 2023 15:02
Stock market live updates: Stocks advanced/declined at this hour
Stocks advanced on BSE at 3 pm on August 29 were 1,997 against 1,548 stocks that declined. Total stocks traded were 3,718. The number of stocks that recorded a 52-week high was 213, and those that hit a 52-week low was 28.
- August 29, 2023 14:44
Buzziing stock: Krishna Defence and Allied Industries stock jumps by 19.98% on the NSE, trading at ₹260.30.
The company has bagged an order from Ministry of Defence for supply of Special Steel Product to be used for Naval Applications, worth ₹56.14 crore.
- August 29, 2023 14:43
Stock market live updates: Captain Pipes stock rises by 1.16% on the BSE, trading at ₹26.08.
The company has received its highest ever monthly export order amounting to $3,60,000 in August and is aiming to increase its share of export revenue in total revenue from 12 per cent in FY23 to 20 per cent within next three years.
- August 29, 2023 14:36
Stock market live updates: Trent gains 1.6% on NSE
Westside has unveiled its denim collection with “Live Your Dance, Live Your Denim” campaign.
Trent, the owner of Westside, gained 1.6% to trade at Rs 2,037 on NSE.
- August 29, 2023 14:33
Stock market live updates: HCKK Ventures plans to raise Rs 200 crore
HCKK Ventures Limited has been steadily increasing its focus on software and technology in recent years, and to fuel this growth further, it has plans to raise up to Rs 200 crore.
- August 29, 2023 14:18
Stock market live updates: Orchid Pharma to foray into B2C business
Chennai-based Orchid Pharma, which manufactures and exports active pharmaceutical ingredients (APIs) and finished dosage forms, is looking to enter the consumer business, according to a senior company official.
“In the long term, we do wish to be in the consumer market. We want to have a business-to-consumer (B2C) segment in Orchid Pharma. So you will see some announcements with respect to that,” a top official said during the company’s Q1 earnings call.
The stock is trading flat at Rs 550 on NSE. Click here to read the complete report.
- August 29, 2023 14:10
Buzzing stock: Lords Chloro Alkali gains 4.8% on NSE
Lords Chloro Alkali Ltd has announced that the company has received approval from NSE for listing and trading of its 2,51,53,861 equity shares of face value of ₹10 each.
The stock gained 4.82% to trade at Rs 182.65 on NSE.
- August 29, 2023 13:59
Stock market live updates: Maruti announces Rs 90 per share dividend
Maruti Suzuki India (MSIL) on Tuesday announced a dividend of Rs. 90 per share, the highest-ever in the history of its operations in the last 40 years.
The company also announced that its Board has approved the appointment of Arnab Roy as Chief Financial Officer (CFO) – designate effective from October, 16 and whole-time CFO of the company with effect from January 1, 2024.
The stock gained 0.27% to trade at Rs 9,624 on NSE. Read our complete report here.
- August 29, 2023 13:39
Stock market live updates: Hero MotoCorp launches Karizma XMR
Hero MotoCorp has launched its motorcycle Karizma XMR. The motorcycle is powered by 210cc Liquid Cooled DOHC Engine, 6 Speed transmission that comes with Slip and Assist Clutch and Dual Channel ABS.
The stock rises by 1.46% on the NSE, trading at ₹2,974.45.
- August 29, 2023 13:36
South peninsula received 62% lower than normal rains during August 1-28: IMD
The August rainfall may be worse than what India Meteorological Department’s prediction of a “below normal” monsoon as the pan India deficit was recorded at 32 per cent until Monday in which the south peninsula has received 62 per cent lower than normal rains during August 1-28.
Though during the past week there were some sporadic rainfalls in many parts, the deficit in Central region comprising major soyabean and tur growers Madhya Pradesh and Maharashtra has further widened, which could adversely affect crops in non-irrigated areas of these states.
- August 29, 2023 13:26
Stock market live updates: KPI Green Energy Ltd has received new orders aggregating to 9.70 MW Solar Power Plant under Captive Power Producer ( CPP ) Segment.
The stock declines by 3.33% on the NSE, trading at ₹910.90.
- August 29, 2023 13:07
Buzzing stocks: Chemfab Alkalis Ltd stock jumps 10.72% on the NSE, trading at ₹383.65.
- August 29, 2023 13:06
Stock market live updates: Digikore Studios files papers for SME IPO
Digikore Studios Limited (Digikore), a visual effects (VFX) studio in India, has announced its plans to enter the primary market with an initial public offering (IPO) of 17,82,400 equity shares, comprising a fresh issue of 12,60,800 equity shares and an Offer for Sale (OFS) of 5,21,600 equity shares.
Digikore has filed its Draft Red Herring Prospectus (DRHP) with NSE Emerge in preparation for the SME IPO segment.
Sarthi Capital Advisors Private Limited has been appointed as the Book Running Lead Manager to the Offer, while Bigshare Services Private Limited will serve as the Registrar to the Offer.
- August 29, 2023 13:04
Stock market live updates: Greaves Cotton gains 1.5% on NSE
Greaves Retail, a unit of Greaves Cotton Limited, has announced the launch of its complete range of e-rickshaw batteries under the brand ‘Power Raja by Greaves’.
The company said in its regulatory filing that the Power Raja batteries, powered by proven lead-acid technology, have been designed to address the specific needs of the e-rickshaw segment and come with various warranty offers, different capacities of batteries (120 AH / 130 AH / 140AH / 150AH) and are priced competitively, offering value for money to the vehicle owner.
The stock trades at ₹146.05, higher by 1.53% on the NSE.
- August 29, 2023 13:03
Stock market live updates: Lupin gains 0.65% on USFDA approval
Lupin Ltd received approval from USFDA for its Abbreviated New Drug Application for Pirfenidone Capsules, 267 mg, to market a generic equivalent of Esbriet Capsules, 267 mg of Hoffmann La Roche Inc. This product will be manufactured at Lupin’s Pithampur facility in India.
The stock trades at ₹1,100.85, down by 0.65% on the NSE.
- August 29, 2023 13:02
Stock to watch: Lloyds Steels Industries
The board of Lloyds Steels Industries has approved availing Overdraft /Letter of Credit/ Bank Guarantee facilities at 100% margin by fixed deposit (full-fledged facility) not exceeding an amount of ₹100 crore with ICICI Bank Limited.
- August 29, 2023 13:01
Modern Insulators has informed the exchange about the incorporation of a wholly-owned subsidiary company. The stock trades at ₹59.99 on the BSE, down by 0.74%.
- August 29, 2023 13:00
Stock market live updates: SC postpones Adani-Hindenburg case hearing
The Supreme Court has postponed the hearing in the Adani-Hindenburg case regarding the status report submitted by capital markets watchdog Securities and Exchange Board of India (Sebi). The Chief Justice of India-led constitution bench will continue hearing pleas challenging the abrogation of Article 370.
- August 29, 2023 12:29
Stock market live updates: BigBloc Construction Ltd majority promoter group entities waive off their dividend rights for FY23.
The stock trades at ₹149.55, up by 4.29% on the BSE.
- August 29, 2023 12:13
Stock to watch today: Maruti Suzuki India
Maruti Suzuki India stock inches up by 0.29% on the NSE, trading at ₹9,625.15. The company said in its annual general meeting on Tuesday that it plans to add production capacity of two million cars over the next eight years.
- August 29, 2023 12:10
Stock market live updates: Macpower CNC Machines surges over 3%
Macpower CNC Machines Ltd has proposed capacity addition of 1800 Machines Per Annum after capacity addition of 300 Machines Per Annum or around 20% in existing capacity. The stock rises by 3.05% on the NSE, trading at ₹275.
- August 29, 2023 12:09
Indian renewable energy underperformance continues, cash collection surges: Fitch Ratings
Here’s is the non-rating action commentary by Fitch Ratings on Indian renewable energy sector
Indian wind and solar project-finance transactions across our rated portfolio continued to underperform in the financial year ended March 2023 (FY23). Generation at the portfolio level increased marginally y-o-y in FY23 but was still lower than the one-year P90 estimate. Solar projects outperformed wind projects in India, tracking the one-year P90 estimate. Wind projects’ y-o-y performance was more variable, which was reflected in the decline in FY23, while performance was better in FY22 than the resource’s sharper decline in FY21, although performance was below the one-year P90 estimate across all three years.
The rated restricted groups’ cash collection improved significantly in FY23 due primarily to the Late Payment Surcharge scheme implemented by the Indian government. The collection cycle improved in the year for both solar and wind projects on the clearance of overdue payments from state distribution companies, which were the main off-takers for the rated portfolio. Sovereign-owned entities and commercial and industrial players continued paying on time in FY23.
- August 29, 2023 12:06
Stock market live updates: Top gainers, top losers at this hour
Major gainers on the NSE at 12 noon:
Hindalco (2.42%); UPL (2.41%); Jio Financial (1.92%); Power Grid (1.55%); Adani Ports (1.37%)
Major losers:
Bharti Airtel (-1.51%); Reliance (-0.93%); IndusInd (-0.90%); Dr Reddy’s (-0.74%); Axis Bank (-0.69%)
- August 29, 2023 12:05
Stock market live updates: Stocks advanced/declined at this hour on BSE
Stocks advanced on BSE at 12 noon on August 29 were 2,080 against 1,373 stocks that declined. Total stocks traded were 3,619. The number of stocks that recorded a 52-week high was 190, and those that hit a 52-week low was 24.
- August 29, 2023 11:59
Stock market live updates: Gensol secures Solar EPC Projects in Dubai, share price zooms over 4%
Gensol Engineering Ltd.’s shares were up by 5 per cent after the company reported clinching two international Solar Engineering, Procurement, and Construction (Solar EPC) projects in Dubai in collaboration with the Dubai Government Workshop Warehouse and Dubai Police.
The shares were up by 4.21 per cent to Rs. 1728 at 11.59 a.m. on the BSE. Read our complete report here.
- August 29, 2023 11:56
Stock market live updates: Indigo Paints board has approved allotment of 19,740 number of equity shares pursuant to Employee Stock Option Scheme 2019.
The company’s stock rises by 1.26% on the NSE, trading at ₹1,533.95.
- August 29, 2023 11:55
Stock market live updates: Gulf Oil Lubricants India stock rises by 3.70% on the NSE, trading at ₹584.80.
The company’s board had approved the acquisition of 51% controlling stake in Tirex Transmission Private Limited (Tirex), a manufacturer of DC fast chargers for EVs.
- August 29, 2023 11:46
Stock to watch today: Rashtriya Chemicals and Fertilizers
Rashtriya Chemicals and Fertilizers Limited informed the exchange that the Department of Public Enterprise has granted the Navratna Status to the company.
The stock lost 0.3% to trade at Rs 121.75 on NSE.
- August 29, 2023 11:45
Stock to watch today: Gravita India Ltd
Gravita India Limited has announced that its step down subsidiary situated in Togo, West Africa, has started commercial production of lead from its existing recycling plant having an annual capacity of around 6,000 MTPA. The group has invested approx. ₹3.61 crore for commissioning of new battery recycling facility, funded from internal accruals of the company.
The stock slips by 0.19% on the BSE, trading at ₹747.55.
- August 29, 2023 11:38
Stock market live updates: Brahmaputra Infrastructure gains 1.8% on NSE
Brahmaputra Infrastructure Ltd has been awarded a letter of award by NHAI for operation & maintenance of descoped length of 2 Lane with paved shoulder Tanot Jaisalmer, worth ₹24.76 crore.
The stock gained 1.8% to trade at Rs 44.80 on NSE.
- August 29, 2023 11:33
Buzzing stock: Rajnish Wellness zooms 3.92%
Rajnish Wellness Ltd has announced opening of a new medical store in Kolkata, West Bengal. The stock trades at ₹12.98, higher by 3.92% on the BSE.
- August 29, 2023 11:25
Stock to watch today: Indiabulls Housing Finance
Indiabulls Housing Finance stock declines by 1.75% on the NSE, trading at ₹188.60. The company repaid ₹1,112.5 crore of bonds availed in August 2013. Debt repayments of the 10-year monies repaid on Monday and the five-year ECBs repaid last week, coincided to make this quarter (Q20FY24) relatively large in terms of debt servicing.
- August 29, 2023 11:20
Bank Nifty prediction today: Intraday trend is bullish; index set to rally
The August contract opened today’s session higher at 44,607 versus yesterday’s close of 44,486. After marking a high of 44,688, the contract is now trading at 44,500.
As the contract is trading above 44,360, the bias is bullish, and the probability of a rally is high. Bank Nifty futures is likely to touch 45,000 soon. Notably, the price band of 44,900-45,000 is a resistance band. Click here to know recommended trade strategy.
- August 29, 2023 11:12
Buzzing stock: IRFC stock surges by 3.59% on the NSE, trading at ₹50.45.
- August 29, 2023 11:09
Stock market live updates: IndusInd Bank has inaugurated its non-banking sports vertical, ‘IndusInd ForSports.’
The stock slips by 0.76% on the NSE, trading at ₹1,398.80.
- August 29, 2023 11:06
Stock market live updates: Top gainers, top losers at this hour
Major gainers on BSE at 11 am:
Gokaldas Exports (20%); TGV Sraac (9.03%); Finolex (8.86%); GHCL (8.66%); HSCL (7.59%)
Major losers: Titagarh (-8.67%); Union Bank (-5.62%); KPI Green (-4.96%); Texmaco (-4.51%); PEL (-4.18%)
- August 29, 2023 11:06
Stock to watch: CreditSights downgrades JSW Steel outlook
CreditSights has downgraded its outlook on JSW Steel to ‘Market perform’ from Outperform on the back of the sizable capex amid a lackluster steel price environment. This could restrain material improvements in its credit profile, it said.
As per unconfirmed news JSW Steel was looking to form a consortium to bid for a 75 per cent-stake in Teck Resources’ (Teck) coking coal business Elk Valley Resources (EVR) for over $8 billion.
The stock gained 1.33% to trade at Rs 783.30 on NSE. Click here to read the complete report.
- August 29, 2023 11:01
Nifty Prediction Today: Wait for dips to go long
The Nifty 50 August Futures (19,322) is trading flat. The contract has resistance around 19,370. It has to break above it to move further higher towards 19,450 and 19,500. Else an intraday dip to 19,300 and 19,270 is a possibility.
The level of 19,270 is an important support which if broken can drag the Nifty 50 August Futures contract down to 19,220-19,200. Read the recommended trade strategy.
- August 29, 2023 10:58
Stock market live updates: HFCL stock rises by 1.47% on the NSE, trading at ₹72.50. The company had launched a qualified institutional placement (QIP) for raising funds.
- August 29, 2023 10:57
Buzzing stock: Gensol Engineering has bagged ₹101.6 crore solar EPC project in Dubai.
The stock surges by 4.67% on the BSE, trading at ₹1,741.50.
- August 29, 2023 10:52
Pyramid Technoplast list at 13% premium; here is what analysts said
Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
Pyramid Technoplast has debuted as a flat-to-positive listing at Rs. 188 (+13%) to its issue price because of equity market conditions. The issue had also received a good response from investors on both the institutional and retail sides.
Pyramid Technoplast Limited is an industrial packaging company engaged in the business of manufacturing polymer-based molded products (polymer drums) mainly used by chemical, agrochemical, specialty chemical, and pharmaceutical companies for their packaging requirements. The company has a strong brand presence and a wide customer base, and it is also expanding its operations. It has strategic locations for its manufacturing units.
However, the company faces some risks, such as competition from new entrants, fluctuations in the price of raw materials, and changes in government policies. Additionally, the company has experienced negative cash flow in the past. Nevertheless, the IPO is fairly priced at a P/E of around 16.24x.
Our recommendation for the IPO was to subscribe as a high-risk investor. However, investors who applied for listing gains may either choose to exit or hold it with a stop loss at the issue price.
- August 29, 2023 10:48
Stock market live updates: Indiabulls Real Estate names Atul Chandra as COO.
The stock gained 4.5% to trade at Rs 77.75 on NSE.
- August 29, 2023 10:30
Stock market live updates: LTIMindtree’s shares up on collaboration with CAST AI
LTIMindtree Ltd.’s share gained 0.57 per cent to trade at Rs 5,759 after the company unveiled a collaboration with CAST AI, a SaaS company specialising in automated cost optimisation for cloud-native applications hosted on Google Cloud, AWS, and Microsoft Azure.
This partnership is set to revolutionise cloud cost management, enabling enterprises to achieve substantial savings, averaging over 60 per cent, as they modernise their legacy applications for cloud migration. Read the complete report here.
- August 29, 2023 10:26
Buzzing stock: Wonder Electricals stock jumps 18.45% on the NSE, trading at ₹322.
- August 29, 2023 10:20
Buzzing stock: Gokaldas Exports stock surges 20% on the NSE, trading at ₹735.35.
The company through its wholly owned subsidiaries had entered into an agreement to acquire Atraco Group (Atraco), a leading manufacturer of apparel with a strong market position and customer relationships across U.S. and Europe.
- August 29, 2023 10:20
Stock market live updates: Capacit’e Infraprojects & Mohan Mutha Exports Pvt Ltd has received order from Rail Vikas Nigam Ltd for ₹575 crore for EPC project in Maldives.
The stock rises by 3.13% on the NSE, trading at ₹202.85.
- August 29, 2023 10:19
Gold, Silver futures on MCX
On MCX, gold October futures were up ₹91 at ₹58,978 per 10 gm. Silver December contracts were up ₹229 at ₹75,447 a kg.
- August 29, 2023 10:18
Stock market live updates: Schaeffler India to acquire KRSV Innovative Auto Solutions for Rs 142 crore
The stock gained 0.8% to trade at Rs 3,053 on NSE.
- August 29, 2023 10:16
Stock market live updates: Gokaldas Export enters into agreement to acquire apparel manufacturer Atraco Group for $55 million
- August 29, 2023 10:16
Stock market live updates: SJVN subsidiary SJVN Green Energy gets Letter of Awards from Assam Power Development Corporation
The stock gained 3.87% to trade at Rs 63.15 on NSE.
- August 29, 2023 10:15
Stock market live updates: HCL Tech signs exclusive preferred professional services agreement with Cloud Software Group
The stock gained 0.37% to trade at Rs 1,150 on NSE.
- August 29, 2023 10:14
Stock market live updates: Engineers India teams up with Australia’s Sunrise CSP group for energy projects.
- August 29, 2023 10:13
Stock market live updates: Suryoday SFB’s promoter Baskar Babu Ramachandran released a pledge of 9.5 lakh shares on Aug. 24
- August 29, 2023 10:13
Buzzing stock: Universal Autofoundry jumps 10%
Universal Auto to consider fund raising via QIP/ Preferential Issue/ Debt Securities. The stock touched upper circuit by gaining 10%.
- August 29, 2023 10:10
Stock market live updates: The Fund Raising Committee of HFCL has decided to launch a QIP issue on August 28
The stock gained 1.4% on NSE.
- August 29, 2023 10:09
Stock market live updates: Adani Group stocks in focus as Supreme Court is scheduled to hear the Adani-Hindenburg matter today
- August 29, 2023 10:09
Stock market live updates: Som Distilleries and Breweries Ltd informed the exchange that its beer brands received permissions for supply to Chhattisgarh.
The stock rises by 3.64% on the NSE, trading at ₹323.
- August 29, 2023 10:08
Stock market live updates: Rane Madras board approves divestment of the entire holdings in Rane Light Metal Casting Inc., USA by way of stock sale.
The stock lost 0.16% on NSE.
- August 29, 2023 10:07
Stock market live updates: Madhusudana Rao Divi retired as a director and a full-time director of Divis Laboratories due to his age and health situation with immediate effect
- August 29, 2023 10:06
Gold price updates: In Asian trade, gold stabilised above $1,920 an ounce even as the market awaits key economic data from the US.
Gold was quoted at $1,924.89 an ounce. Silver ruled at $24.332 an ounce.
- August 29, 2023 10:06
Stock to watch: Promoter Lalit Agarwal has executed a gift deed in favour of promoter Madan Gopal Agarwal to transfer 10.4 lakh shares of V-Mart.
The stock gained about 0.9% on NSE.
- August 29, 2023 10:05
Stock market live updates: OMEGA TC Sabre sold 18.0 lakh shares of Shriram Properties
- August 29, 2023 09:58
Stock to watch: Power Mech Projects incorporates SPV
Power Mech Projects informed the exchange that a Special Purpose Vehicle (SPV) for execution of the Tasra MDO Project has been incorporated with the name Kalyaneswari Tasra Mining Pvt Ltd. The stock inches up by 0.71% on the NSE, trading at ₹4,028.20.
- August 29, 2023 09:56
Stock market live updates: Sun Pharma expects high-single-digit consolidated topline growth for FY24.
Sun Pharma stock gained around 1% to trade at Rs 1,117 on BSE.
- August 29, 2023 09:55
Stock market live updates: Duraiswami Narain resigns as Vice Chairman & MD & CEO of Bayer Crop Science with effect from October 31.
The Bayer Crop Science stock gained 0.9% to trade at Rs 4,740 on BSE. Click here to read the complete report.
- August 29, 2023 09:53
Buzzing stock: RattanIndia Power jumps 4.7% on BSE
ABARC-AST-002-TRUST sold 4.4 crore shares of RattanIndia Power. The stock gained 4.7% to trade at Rs 5.79 on BSE.
- August 29, 2023 09:50
Stock market live updates: Advanced Enzyme’s promoter Advanced Vital Enzymes sold 1.3 lakh shares between Aug 23 and 25
- August 29, 2023 09:50
Stock market live updates: Suzlon Energy stock rises by 4.89% on the NSE at ₹24.65.
- August 29, 2023 09:48
Stock market live updates: Hindustan Construction Company stock declines by 1.77% on the NSE, trading at ₹27.75.
The company had announced in exclusive discussions with Demathieu Bard, a company headquartered in France, for the sale of Steiner Construction SA, a material subsidiary of the company.
- August 29, 2023 09:44
Market live updates: Rupee rises 5 paise to 82.58 against US dollar in early trade.
- August 29, 2023 09:41
Stock to watch: Tata Power
Tata Power Renewable Energy Limited (TPREL), a renewable energy company in India and a subsidiary of Tata Power, signed a Group Captive Power Delivery Agreement (PDA) for 4.4 MW AC with the ANAND Group, a global automotive systems and parts industry leader. Under this agreement, TPREL will facilitate the generation of 10 million units of clean energy through renewable sources.
The stock inches up by 0.53% on the NSE, trading at ₹246.25.
- August 29, 2023 09:34
Stock market live updates: Top gainers, losers at this hour
Major gainers among the Nifty50 stocks at 9:30 am:
UPL (1.46%); Cipla (0.90%); Hero Motocorp (0.86%); Adani Enterprises (0.71%); Tech Mahindra (0.70%)
Major losers: Bharti Airtel (-2.12%); Apollo Hospitals (-0.59%); Reliance (-0.57%); Jio Financial (-0.45%); Dr Reddy’s (-0.35%)
- August 29, 2023 09:30
Stock market live updates: Sensex, Nifty open marginally higher
Indian shares opened higher on Tuesday, aided by broad sectoral gains, ahead of key macro data from the US as well as India’s quarterly gross domestic product, due later this week.
The Nifty 50 index was up 0.12% at 19,329, while the S&P BSE Sensex rose 88 pts to 65,077.
Reliance Industries (-0.7%) and Jio Financial Services (-1.2%) were the major losers among the Nifty50 stocks.
- August 29, 2023 09:23
Crude oil futures trade marginally lower
Crude oil futures traded marginally lower on Tuesday morning as the market is waiting for the release of key economic data from the US and China during this week. US and China are the major consumers of crude oil in the world market. At 9.18 am on Tuesday, November Brent oil futures were at $83.82, down by 0.06 per cent; and October crude oil futures on WTI (West Texas Intermediate) were at $80.05, down by 0.06 per cent.
- August 29, 2023 09:23
Blue Dart Express Ltd has received UNFCCC Certification for its climate neutrality efforts. The stock lost 0.6% to trade at Rs 6,288 in early trade.
- August 29, 2023 09:20
Stock market live updates: Coforge gains 0.5% in early trade
Coforge Ltd, a global digital services and solutions provider, has been recognised by HFS Research in Horizon 3- ‘Market Leader’ in the Horizons Report on Travel, Hospitality, and Logistics (THL) Service Providers, 2023.
- August 29, 2023 09:05
Stock market live updates: Shrikant Chouhan on outlook for Nifty and Nifty Bank
Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd
“The market is still in a trading range and we need a close above the 19370 mark for further upside. The positive sentiment is likely to continue as long as the index sustains at 19220/64700, above which, we can see a pull back rally till 19400-19450. On the other hand, selling pressure is likely to increase below 19220 and the market may slide further towards 19100-19000. Bank Nifty was seen gaining strength, but it failed to accelerate further due to weakness in the broader market. Above 44500, the upside may lift the index up to 45000 levels. Below 44200, the index could slide further towards 44000 or 43800 levels.”
- August 29, 2023 08:53
Sectoral Watch: Antique positive on Indian life insurance sector
Antique is positive on Indian life insurance sector and initiates coverage on
▪️ HDFC Life | 24% UPSIDE | Consistent industry leading growth justifies premium valuation
▪️ SBI Life | 22% UPSIDE | Play on SBIN’s robust distribution network
▪️ Max Financial Services | 21% UPSIDE | Axis Bank channel growth recovery remains key stock driver
▪️ ICICI Prudential Life | 20% UPSIDE | Growth revival to drive re-rating
- August 29, 2023 08:52
Stocks to Watch: Black Rose Industries installs rooftop solar in Gujarat facility
Black Rose Industries Limited have successfully installed and commissioned Rooftop Solar Power System of capacity 511 KW at our manufacturing facility situated at Jhagadia, Gujarat, on 28th August, 2023.
- August 29, 2023 08:49
Stocks to Watch: Key takeaways from Piramal’s analyst meet
i) Following the business transformation necessitated by a weak real estate cycle in 2018, Piramal has focused on building a retail NBFC of scale. ii) The company has revamped its management and business
teams, and the Board. The team has leaders with 20-plus years of experience each from reputable institutions such as AXIS, ICICI, Bajaj Finance, Amazon, Avendus and KKR. iii) The company has also built a strong technology platform that runs on cloud, and does not have legacy servers. — Nuvama Institutional Equities
- August 29, 2023 08:48
Economy Watch: Key factors to keep an eye on this week
1] 31st August: India GDP Growth for Q1FY24
2] 1st Sep: Mfg PMI
3] 1st Sept: August Auto number
4] 30th Aug: US 2QCY24 GDP estimates
5] 1st Sept- Countries Caixin Mfg data: China, Japan
- August 29, 2023 08:46
Kotak Institutional Equities on RIL AGM, InterGlobe Aviation, realty sector
Reliance Industries: Next generation comes on board
Retail: To be the fastest-growing business of RIL; further stake-sales likely
R-Jio: 5G rollouts to drive market share gains; Jio AirFiber launch in Sep 2023
O2C: Transition to sustainable/circular energy business; net zero by 2035
InterGlobe Aviation: International is where the battle is being fought
Indian carriers have gained meaningful share in international travel
Supply-constrained carriers are growing international at cost of domestic
Shift to international is positive for spreads of airlines, especially IndiGo
Overhang in domestic of low load factor in July not sustaining in August
Sector Alerts
Real Estate: Vacancies inch up; SEZ resolution paramount
Lower absorption as demand and regulatory headwinds at play
Pune leads in large deals; Cognizant takes up 1 mn sq. ft of new area
- August 29, 2023 08:41
Chola Securities take on Market: Buy on corrections, stay put on longs
Earnings: Q1FY24 earnings update by corporates have largely been in line with expectation. Pharmaceuticals, FMEG, FMCG, Cement, Automobiles, Auto-ancillary all delivered good set of numbers. Management
commentary across sectors were largely bullish, having an expectation of high teen growth in FY’24; the only sore point being IT. Financials have been an all-round beat. Fundamentally, from long term
perspective economy is building on strong demand traction.
Market Outlook: The current strategy is to buy on corrections and hold onto long positions. However, present volatility may extend to couple of weeks. Probability, of deep cuts on Nifty 50 index is high.
Relative Outperformance: The medium-term relative outperformance of Indian markets compared to global peers is likely to continue.
- August 29, 2023 08:39
Listing of new securities
Listing of new securities of Tilaknagar Industries Ltd
17,92,453 equity shares of Rs. 10/- each issued at a premium of Rs.43/- to Promoters on a preferential basis pursuant to conversion of warrants
Listing of new securities of SG Finserve Limited
60,00,000 equity shares of Rs. 10/- each issued at a premium of Rs.91/- to Promoters on a preferential basis pursuant to conversion of warrants.
Listing of Equity Shares of Shoora Designs Limited (SME)
14,98,662 Equity Shares of Rs.10/- each fully paid up IPO Px: 48/- Lot 3000
Listing of new securities of Union Bank of India
57,77,00,751 Equity shares of Rs.10/ each allotted to QIBs pursuant to Qualified Institutional Placement. @ 86.55
Listing of new Securities of Rama Steel Tubes Limited
37,50,000 equity shares of Rs. 1/- each issued at a premium of Rs.75.40/- to Non Promoters on a preferential basis pursuant to conversion of warrants and 1,50,00,000 equity shares allotted as bonus shares reserved on the above shares in the ratio of 4:1.
- August 29, 2023 08:39
Dividend Dates
Ex-Dividend 30 August 2023 (Tomorrow)
Last date for Cum-Dividend Today
CMS Info Systems Ltd
Dividend Per Share Rs.4.75
Previous day Closing Price – Rs. 356.3
Ion Exchange (India) Ltd.
Dividend Per Share Rs.1.25
Previous day Closing Price – Rs. 498.1
SKM Egg Products Export (India) Ltd.
Dividend Per Share Rs.0.5
Previous day Closing Price – Rs. 417.55
Tanla Platforms Ltd
Dividend Per Share Rs.4
Previous day Closing Price – Rs. 963.85
- August 29, 2023 08:38
IPO watch: Listing of Pyramid Technoplast today
Shares of Pyramid Technoplast will be listed at the bourses today.
The ₹153-crore IPO of Pyramid Technoplast was subscribed 14.72 times. The company has set the IPO price at Rs 166, at the upper end of the price band Rs 151-166.
The initial public offering saw a strong response from all category of investors. While retail investors portion was subscribed 29 times, NII portion and QIB quotas were subscribed 32 times, and 10 times respectively.
- August 29, 2023 08:37
Trading Tweaks
Price Band Revised From 10% To 5%: Genus Power Infrastructures, Ksolves India
Price Band Revised From 20% To 10%: Atul Auto
Ex-date Dividend: Birla Corporation, Gmm Pfaudler, Pilani Investment and Industries Corporation, Tamilnad Mercantile Bank
Ex-date AGM: Go Fashion (India), Pilani Investment and Industries Corporation, GMM Pfaudler, Birla Corporation, and Tamilnad Mercantile Bank
Record-date Dividend: Tamilnad Mercantile Bank
Move Into Short-Term ASM Framework: Garware Hi-Tech Films, Titagarh Rail Systems
Move Out Of Short-Term ASM Framework: Nil.
- August 29, 2023 08:36
Pledge Share Details
Suryoday Small Finance Bank: Promoter Baskar Babu Ramachandran released a pledge of 9.5 lakh shares on Aug. 24.
Jamna Auto Industries: Promoter Pradeep Singh Jauhar created a pledge of 52 lakh shares on Aug. 28.
Mangalore Chemicals & Fertilisers: Promoter Zuari Agro Chemicals created a pledge of 21 lakh shares on Aug. 24.
- August 29, 2023 08:35
Insider Trades
Sapphire Foods India: Promoter Sagista Realty Advisors sold 1.6 lakh shares on Aug. 25, and promoter Sapphire Foods Mauritius sold 16.25 lakh shares on Aug. 24.
Coforge: Promoter Hulst BV sold 1.63 crore shares on Aug. 24.
Advanced Enzyme Technologies: Promoter Advanced Vital Enzymes sold 1.3 lakh shares between Aug. 23 and 25.
DB Realty: Promoter Mohammed Gulamali Morani sold 2.1 lakh shares on Aug. 23.
- August 29, 2023 08:35
Bulk Deals
RattanIndia Power: ABARC-AST-002-TRUST sold 4.4 crore shares (0.8%) at Rs 5.6 apiece.
63 Moons Tech: Gazania Advisory sold three lakh shares (0.65%) at Rs 358.09 apiece.
- August 29, 2023 08:34
Block Deals: Star Health and Allied Insurance Company
Star Health and Allied Insurance Company: University of Notre Dame du Lac sold 1.67 crore shares (2.85%), MIO IV Star sold 34 lakh shares (0.6%), and ROC Star Investment Trust sold 15 lakh shares (0.3%), while Fidelity bought 1.76 crore shares (3%), FGTFEBP: FIAM Emerging Markets Opportunities Commingled Pool bought 32.45 lakh shares (0.6%), and ICICI Prudential Life Insurance bought 39 lakh shares (0.7%) at Rs 610.2 apiece.
- August 29, 2023 08:33
Block Deals: Strides Pharma Science
Strides Pharma Science: Shasun Enterprises sold 2.3 lakh shares (0.3%) and Morgan Stanley Asia bought 2.3 lakh shares (0.3%) at Rs 438 apiece.
- August 29, 2023 08:33
Stocks to Watch: HCL Tech inks pact for TIBCO Products with Cloud Software Group
HCL Technologies signs Exclusive Preferred Professional Services Agreement With Cloud Software Group Company Signs Agreement For TIBCO Products For Enterprise Customers Across The Globe
- August 29, 2023 08:30
Stocks to Watch: SJVN’s arm bags 320 MW solar project from Assam Power Development Corporation
SJVN : BAGS ORDER Arm SJVN Green Energy Limited Gets Letter Of Awards From Assam Power Development Corporation Limited For 3 Solar Power Projs Of Cumulative Capacity 320 MW
- August 29, 2023 08:28
Stocks to Watch: Block deals in Apollo Hospital
Apollo Hospital: Promoter may sell up to 26.3 lakh shares (0.85% equity) via block deals Floor Price is likely at Rs 1,595/sh, 4.3% discount to CMP Base size of the block deals likely at Rs 303 cr and greenshoe at Rs 116 cr
- August 29, 2023 08:27
Stocks to Watch: V-Mart Retail promoter executes gift deed
V-Mart Retail: Promoter Lalit Agarwal has executed a gift deed in favour of promoter Madan Gopal Agarwal to transfer 10.4 lakh shares, representing 5.27% of the paid-up share capital.
- August 29, 2023 08:26
Stocks to Watch: Indiabulls Real Estate appoints Atul Chandra as Chief Operating Officer
Indiabulls Real Estate: The company appointed its current senior vice president, Atul Chandra, as Chief Operating Officer with immediate effect.
- August 29, 2023 08:25
Stocks to Watch: Divis Labs
Divis Laboratories: Madhusudana Rao Divi retired as a director as well as a full-time director in view of his age and health situation with immediate effect.
- August 29, 2023 08:24
Stocks to Watch: Schaeffler India to acquire Koovers for full shareholding
Schaeffler India: The company has entered into a share purchase agreement for the acquisition of 100% of the shareholding of KRSV Innovative Auto Solutions (“Koovers”) following the board’s approval.
- August 29, 2023 08:23
Stocks to Watch: Rane Madras approves divestment of Rane Light Metal Casting Inc. Holdings
Rane Madras: The board has approved divestment by way of stock sale of the entire holdings in Rane Light Metal Casting Inc., USA (LMCA), held through its wholly owned subsidiary Rane (Madras) International Holdings BV, The Netherlands (RMIH).
Rane Madras: The board has approved divestment by way of stock sale of the entire holdings in Rane Light Metal Casting Inc., USA (LMCA), held through its wholly owned subsidiary Rane (Madras) International Holdings BV, The Netherlands (RMIH).
- August 29, 2023 08:21
Stocks to Watch: Bayer CropScience
Bayer CropScience: Duraiswami Narain has resigned as the vice chairman, MD, and CEO of the company with effect from Oct. 31 due to his planned repatriation to Bayer US. The company has appointed Simon Weibusch as Narain’s replacement, with effect from Nov. 1.
- August 29, 2023 08:20
Global Markets Update: What happened overnight?
– SPX +0.63%, Nasdaq +0.84%
– UST 10-year yield lost 3 bps to 4.21%
– Dollar Index -0.21% to 103.95
– Brent oil little changed, settling at $84.50/bbl
- August 29, 2023 08:19
Fund Houses Recommendations
HSBL on UPL: Maintain Buy, target price at Rs 775
Nomura on Bharat Forge: Maintain Buy, target Rs 1157
UBS on PVR Inox: Maintain Buy, target price at Rs 2150
MS on Manappuram: Maintain Overweight, target price at Rs 183
Jefferies on Axis Bank: Maintain Buy, target Rs 1200
CLSA on Reliance Ind: Maintain Buy, target price at Rs 3060
Jefferies on Reliance Ind: Maintain Buy, target price at Rs 2950
Nomura on Reliance Ind: Maintain Buy, target price at Rs 2925
Macquarie on Reliance Ind: Maintain Underperform, target price at Rs 2100
Emkay on PEL: Maintain Buy, target price at Rs 1230
Jefferies on PEL: Maintain Underperform, target price at Rs 920
CLSA on PEL: Maintain Underperform, target price at Rs 1150
HSBC on Dr Reddy: Downgrade to Hold on Company
Investec on Indian Bank: Hold, target price to Rs 430
- August 29, 2023 08:18
Share Market Today: Market buzz on APL Apollo Tubes
According to a section of media, APL Apollo Tubes
— Promoter may sell up to 26.3 lakh shares (0.85% equity) via block deals
— Floor Price is likely at Rs 1,595/sh, 4.3% discount to CMP
— Base size of the block deals likely at Rs 303 cr and greenshoe at Rs 116 cr
- August 29, 2023 08:17
Stock under F&O ban on NSE 29-Aug-23
1 BHEL
2 ESCORTS
3 GMRINFRA
4 HINDCOPPER
5 IBULHSGFIN
6 INDIACEM
7 MANAPPURAM
8 RBLBANK
9 SUNTV
- August 29, 2023 08:16
Today’s Key Results/Board Meetings: 29-Aug-23
ADVIK LAB
A.G.M.
ASHIANA ISPAT
Increase in Authorised Capital;A.G.M.;Preferential Issue of shares
BIGBLOC
A.G.M.
BP CAPITAL
A.G.M.
CASPIAN CORPORATE SERVICES
Final Dividend;A.G.M.;General
CIAN AGRO
A.G.M.
DALMIA INDUSTRIAL DEVELOPENT LTD
A.G.M.
ECO HOTELS
Preferential Issue of shares
FCS SOFT
A.G.M.
GAN HOLDINGS
A.G.M.;General
GILLETTE
Final Dividend;Audited Results
GRAVITY
A.G.M.
HMA AGRO
Final Dividend;Audited Results;A.G.M.;General
INTERWORLD DIGITAL
A.G.M.
KILPEST
Amalgamation
KP ENERGY LTD
Employees Stock Option Plan;A.G.M.;General
LANDMARC
A.G.M.
MOLDTEK
A.G.M.;General
MOLDTEK PACKAGING
A.G.M.;General
MUFIN GREEN FINANCE
A.G.M.;General
NOUVEAU GLOBAL VENTURES
General
NUTRICIRCLE
A.G.M.;General
PG FOIL
A.G.M.
PHARMAID
General
PRO FIN CAPITAL
Preferential Issue of shares
RCC CEMENTS
A.G.M.
REVATHI
Audited Results
RITHWIK FMS
A.G.M.
RKD AGRI RETAIL
A.G.M.
SABOO BROTHERS
A.G.M.;General
SBFC FINANCE
General
SHANTI EDUCATIONAL INITIATIVES
A.G.M.;General
STANDARD CAPITAL MARKETS
General
STARLINEPS ENTERPRISES
A.G.M.;General
SUPER CROP SAFE
A.G.M.
SUNCITY SYNTHETICS
General
TIJARIA POLYPIPES
General
TRANS INDIA REAL ESTATE
Quarterly Results
UNI AUTO
Issue Of Warrants;General;Preferential Issue of shares
UNITECH
Quarterly Results
- August 29, 2023 08:15
Stocks to Watch: Export order for Captain Pipes
Captain Pipes Ltd has announced the receipt of its highest ever monthly export order amounting to $360,000 in August. The company is aiming to increase its share of export revenue in total revenue from 12 per cent in FY23 to 20 per cent within next three years.
- August 29, 2023 08:14
Stocks to Watch: LTIMindtree’s AI collaboration
LTIMindtree has announced a strategic collaboration with CAST AI, a leading SaaS company that specialises in automated cost optimisation for customers who run their cloud-native applications on Google Cloud, AWS, and Microsoft Azure. The partnership will help companies save, on average, over 60 percent on cloud costs as they modernize legacy applications for cloud migration.
- August 29, 2023 08:13
Stocks to Watch: Tiger Global exits from Zomato
Tiger Global and billionaire Yuri Milner’s DST Global on Monday sold a 1.8 per cent stake in Zomato for Rs 1,412 crore through open market transactions. Axis Mutual Fund, SBI Life Insurance Company, ICICI Prudential Life Insurance Company, Founders Collective Fund, Morgan Stanley Asia Singapore and Societe Generale, among others were the buyers of the shares of Zomato.
- August 29, 2023 08:12
Stocks to Watch: R&D spend to keep Sun Pharma in good health
Sun Pharma’s R&D spending is expected to be about 7-8 per cent of sales in FY24 with an increased focus on specialty R&D, the management said during the company’s AGM on August 28. Sun Pharmaceutical Industries Ltd. spent approximately Rs 2,400 core on Research and Development, which accounted for about 5.5 per cent of its sales for FY 23
- August 29, 2023 08:10
Stocks to Watch: Will Jawan lift spirit of Panorama Studios
Panorama Studios International Ltd will be releasing Shahrukh’s film “Jawan”, in Hindi, Telugu, and Tamil languages in the Mysore circuit, the film directed by Atlee and produced by Red Chillies Entertainment.
- August 29, 2023 08:09
Stocks to Watch: Gokaldas’ big acquisition
Gokaldas Exports Limited (GEL) through its wholly owned subsidiaries has entered into an agreement to acquire Atraco Group (Atraco), a leading manufacturer of apparel with a strong market position and customer relationships across U.S. and Europe. Their product range includes shorts, pants, shirts, t-shirts, blouses and dresses catering across age groups.
- August 29, 2023 08:08
Stock Market Today: Opening Bid: Sensex, Nifty to open flat despite positive global trends
Gift Nifty suggests a flat start for domestic markets despite global positivity. Stock-specific action anticipated before August F&O expiry. Credit and deposits grow, markets in consolidation. Nifty futures signal bullish sentiment.
- August 29, 2023 07:43
Stocks that will see action today: August 29, 2023
Buzzing stocks: Zomato, HCC, Sun Pharma, SJVN, Indiabulls Housing Finance, Gokaldas Exports, LTIMindtree, Captain Pipes, HFCL, Bayer Cropscience, Indsil Hydro
- August 29, 2023 07:27
L&T in talks with ISRO to build launch vehicles for LEO satellites
Larsen & Toubro (L&T) is in talks to acquire space technology from the Indian Space Research Organisation (ISRO) to build launch vehicles for low earth orbit satellites (LEOs).
- August 29, 2023 07:23
Broker’s Call: Suzlon (Buy)
Suzlon Energy Ltd (Suzlon) with leading market share (33 per cent), higher depth of manufacturing (4.5GW), most credible O&M services (35 per cent+ EBITDA) and technology superiority (3MW sets under testing) is best placed to grow its order book (1.5GW/2GW as of Jun’23/Mar’26) and enhance project execution (800MW/1500MW in FY24/FY26) gaining from the industry tailwinds.
- August 29, 2023 07:21
Broker’s call: GRSE (Sell)
Garden Reach Shipbuilders’ (GRSE) Q1FY24 performance was boosted by P-17A frigates project entering the peak revenue booking phase. Key points: revenue was up 30.4 per cent YoY while EBITDA rose 37.6 per cent YoY; orderbook as at June 2023-end was at ₹24,550 crore, implying orderbook/revenue at 8.96x; an order worth ₹250 crore for Naval guns from Indian Navy was received; and company subcontracted part of its orderbook to L&T for speedy execution.
- August 29, 2023 07:20
Piramal Enterprises buyback to open on Aug 31
The ₹1,750-crore buyback offer of Piramal Enterprises will open on August 31 and close on September 6. The company plans to buyback up to 140 crore shares of ₹2 each at ₹1,250 a share.
- August 29, 2023 07:17
Day trading guide for August 29, 2023: Intraday supports, resistances for Nifty50 stocks
Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS and SBI
- August 29, 2023 07:16
Stock to buy today: Federal Bank (₹144.05)
The short-term outlook is bullish for Federal Bank. The stock has begun the week on a strong note by rising over 2 per cent on Monday confirms resumption of the broader uptrend in place since April 2020. Strong support is now in the ₹140-138 region.
- August 29, 2023 07:10
Asia stocks gain on US equities rise, eyes on economic data
Asian stock markets saw an increase as a result of the upward movement in US equities. Traders are in anticipation of a series of economic data that will be released in the coming days, as these figures are expected to provide insights into the potential direction of global central bank policies.
At the start of the trading session, stock prices in Japan, South Korea, and Australia all registered slight gains. Additionally, the futures for Hong Kong equities indicated a positive trend. In the US, the futures market showed stabilization, a response to the S&P 500 achieving its first consecutive back-to-back gains for the month of August.
- August 29, 2023 07:06
Wall Street closes higher ahead of crucial inflation and jobs data
Wall Street ended higher on Monday, with gains in 3M and Goldman Sachs ahead of key inflation and jobs data this week that will offer more clues on the Federal Reserve’s interest rate path.
All three major stock indexes rose as investors digested last Friday’s comments from Fed Chair Jerome Powell that the U.S. central bank may need to raise interest rates further to ensure inflation is contained.
Focus now shifts to a report on the personal consumption expenditures price index, the Fed’s preferred inflation gauge, to be released on Thursday, and non-farm payrolls data due on Friday.
The S&P 500 climbed 0.63% to end the session at 4,433.31 points.The Nasdaq gained 0.84% to 13,705.13 points, while Dow Jones Industrial Average rose 0.62% to 34,559.98 points. – Reuters