Stock Market Live Updates: Sensex sheds over 250 pts, Nifty below 19300; IT stocks under pressure

Stock market live updates: Shree Renuka Sugars gets rating upgrade

India Ratings & Research upgrades bank facilities ratings of Shree Renuka Sugars. The stock gained 0.1% at Rs 45 per share on NSE.

Stock to watch today: Brookfield India REIT

Brookfield India REIT on Friday said it has issued and allotted 15,000 dematerialized, rupee denominated, listed and rated commercial papers aggregating to Rs. 750 crores at a face value of Rs. 5 lakh each on August 17, 2023.

The funds will be utilised for repayment of debt of the SPVs of Brookfield India REIT; towards transaction expenses, capital expenditure and working capital requirements of Brookfield India REIT and its SPVs, per an exchange filing.

Buzzing stock: TRF surges 18.47% on NSE

TRF stock surges by 18.47% on the NSE, trading at ₹221.

Stock market live updates: Top gainers, top losers at this hour

Major gainers on the BSE at 11 am are:

South Indian Bank (9.35%); CSB Bank (8.21%); Finolex (7.58%); Alok Industries (6.73%); Jai Corp (6.67%)

Major losers:

PTC (-5%); Manappuram Finance (-4.52%); Neuland (-3.85%); Rategain (-3.51%); Mphasis (-3.52%)

Stock market live updates: Axiscades Tech acquires 94% stake in GmbH

Axiscades Technologies ltd has acquired 94% stake in add solution GmbH, upon payment of Phase I consideration of Euro 5 Mn. Subsequently, add solution GmbH has become a subsidiary of AXISCADES GmbH and a step-down subsidiary of the company. However, the stock of AXISCADES declines by 2.76% on the NSE, trading at ₹560.15.

RBI issues fresh instructions on penal charges in loan accounts

The Reserve Bank of India has issued fresh guidelines for regulated entities on penal charges in loan accounts to ensure that levy of penal interest/ charges is not used as a revenue enhancement tool by them, over and above the contracted rate of interest.

The central bank’s instructions for the REs (all commercial banks, urban co-operative banks, non-banking finance companies, including housing finance companies and All-India Financial Institutions) shall come into effect from January 1, 2024.

IPO news: Pyramid Technoplast’s public issue opens for subscription

Pyramid Technoplast IPO, which opened to public today, will close on August 22.

The company plans to raise Rs 153 crore from the IPO, which comes out with a price band of ₹151-166 a share of face value of ₹10 each.

The IPO consists of fresh issue of ₹91.30 crore and an offer for sale (OFS) portion of ₹61.75 crore.

As part of IPO process Pyramid Technoplast garnered a capital of ₹27.55 crore through an anchor investors – the Carnelian Structural Shift Fund, the Alchemie Ventures Fund, the Pluris Fund, and the Resonance Opportunities Fund – on Thursday by deciding to allot 16,59,600 at ₹166 each.

Shares of M&M slides down by 1.12%

Mahindra & Mahindra Limited informed the exchange that the company has received an order from the Joint Commissioner, CGST & Central Excise, Pune-I Commissionerate imposing a penalty of ₹14,31,571 under applicable provisions of the CGST Act, 2017 in relation to the erstwhile Mahindra Vehicle Manufacturers Limited, which has since been merged into the company.

M&M stock slides down by 1.12% on the NSE, trading at ₹1,555.95.

Bondada Engineering IPO share offer opens today

Hyderabad-based Bondada Engineering Ltd, a telecom and solar EPC services company, has launched IPO at Rs 75 a share and to be listed on BSE SME.

The public issue of face value of Rs 10 per equity share comprises of fresh issuance of 56,96,000 equity shares worth of Rs 42.72 crore. The investors can bid for a minimum of 1,600 equity shares in retail category and multiples of 1,600 equity shares in HNI category.

Aptus Value Housing: Rs 27.88cr NSE Block Trade; for ~1003989 shares, at Rs 277.7

Bliss GVS block deal OF 11 lakh shares at 92.50

Post-listing view on Concord Biotech from Anubhuti Mishra, Equity Research Analyst at Swastika Investmart Ltd.

Today, Concord Biotech Limited made its debut on the stock markets by going public at Rs 900 per share, 21.46% higher than its IPO price of Rs 741. Concord Biotech is a leading API company with a proven track record. The company manufactures and exports APIs for a wide range of therapeutic areas.

However, the company’s international operations expose it to various complex risks. Additionally, this industry has been facing margin pressure recently. Overall, the listing of Concord Biotech was in line with expectations. The company’s strong fundamentals and good subscription levels were positive factors for this. Investors who participated in the IPO should consider booking profits post-listing.

Shares of SIB surges 9%

The stock of the South Indian Bank surges by 9% on the NSE, trading at ₹23. RBI had approved the appointment of PR Seshadri as MD and CEO of the bank with effect from October 1.

Stock market live updates: Sula Vineyards rises 1.56% on growth in wine tourism operations

Sula Vineyards stock rises by 1.56% on the NSE, trading at ₹496.70. The company informed the exchange that its wine tourism operations registered growth over the last weekend as visitor attendance surged at Nashik and Bengaluru on August 12-14. Revenues over the three days touched ₹2.08 crore, 40% higher than the previous three-day record of ₹1.47 crore.

Rupee rises 7 paise to 83.02 against US dollar

The rupee recovered from its all-time low levels and appreciated by 7 paise to 83.02 against the US dollar in early trade on Friday as the American currency retracted from its elevated levels, per a PTI report.

However, a muted trend in domestic equities, foreign fund outflows and rising crude oil prices weighed on the domestic unit, forex traders said.

At the interbank foreign exchange, the domestic unit opened at 83.03, then touched a high of 83.02 against the American currency, registering a rise of 7 paise over its last close.

In initial trade the rupee also touched a low of 83.09 against the American currency.

On Thursday, the rupee settled for the day lower by 1 paisa at a fresh all-time low of 83.09 against the US dollar.

Buzzing stock: IRIS Business Services jumps over 13% on NSE

Shares of IRIS Business Services jumps 13.54% on the NSE, trading at ₹120.30.

Stock market live updates: Spandana Sphoorty Financial board approves issuance of non-convertible debentures

Spandana Sphoorty Financial’s board has approved the issuance of non-convertible debentures up to Rs 75 crore, including green shoe option of Rs 25 crore on private placement basis. The debentures carry an interest rate of 10.60% quarterly, with a tenure of 18 months from allotment, which is Aug. 24. The instrument will be listed on the BSE.

Stock market live updates: CRISIL Ratings upgrades outlook on Punjab and Sind Bank

CRISIL Ratings has revised the rating outlook for Tier-II bonds of Punjab & Sind Bank from ‘negative’ to ‘stable’. The credit rating agency has reaffirmed the rating at ‘CRISIL AA’. The revision in outlook factors the sustained improvement in earnings, asset quality and capital position of the bank.

IPO alert: Bondada Engineering Limited’s SME Initial Public Offering opens today

Bondada Engineering Limited’s SME Initial Public Offering opens today. The issue price has been set at Rs 75 a share.

Stock market live updates: Sensex sheds over 250 pts, Nifty below 19300; IT stocks under pressure

BSE Sensex lost 286 points or 0.44% to trade at 64,864, while NSE Nifty lost 78 points or 0.4% to trade at 19,286 around 9.55 am. Major IT stocks such as TCS, Wipro, Tech Mahindra and HCL Tech have lost more than 1%.

Stock to watch today: Astral

Astral’s UK unit Seal IT Services has incorporated one new step-down subsidiary to distribute, transmit and sell building chemicals from the UK into Ireland as an EU-entity for importer responsibilities covering REACH, CPL packaging regulations and related safety responsibilities.

The stock lost 0.66% on BSE.

Repro India approves issuance of shares on preferential basis

Repro India has approved issuance of shares on a preferential basis at Rs 765 a share.

Stock to watch today: Delhivery

Go First’s settlement talks with Delhivery fail, legal battle to continue at NCLT

Stock market live updates: KIMS gains 1.33% on acquisition of stake in Kondapur Healthcare

The Shares of Krishna Institute of Medical Sciences (KIMS) gained 1.33 percent in early trade on BSE on Friday and are trading at Rs 1928.70.

As per a disclosure on Friday, KIMS acquired equity holding of 8.06% through a primary purchase in Kondapur Healthcare Limited. The total paid-up Equity Share Capital of Kondapur Healthcare Private Limited as of date is Rs 124 crore.

Kondapur Healthcare Limited is yet to commence its operations. The shares were acquired by KIMS at Rs 10 per equity share in a cash consideration.

Stock market live updates: NLC gains over 2% on NSE

The stock of NLC India gained 2.08% on the NSE to trade at ₹127.90. The company had secured 510 MW solar project capacity in the CPSU Scheme Phase-11 Tranche-III floated by Indian Renewable Energy Development Agency (IREDA) through competitive bidding.

Stock market live updates: Top gainer, top losers in early trade

Major gainers on the NSE at 9:30 am

Dr Reddy’s (1.42%); Cipla (1.10%); LT (0.64%); Tata Motors (0.40%); Divi’s Lab (0.31%)

Major losers

TCS (-1.24%); Wipro (-1.09%); Hero Motocorp (-0.94%); HCL Tech (-0.83%); Hindalco (-0.83%)

Brent crude oil trade marginally higher

Brent crude oil futures traded marginally higher on Friday morning. However, the oil market is set to end the week lower as the economic slowdown in China further deepened with property sector crisis in that country. At 9.29 am on Friday, October Brent oil futures were at $84.17, up by 0.06 per cent; and September crude oil futures on WTI (West Texas Intermediate) were at $80.58, up by 0.24 per cent. August crude oil futures were trading at ₹6692 on Multi Commodity Exchange (MCX) in the initial trading hour of Friday morning against the previous close of ₹6685, up by 0.10 per cent; and September futures were trading at ₹6655 as against the previous close of ₹6654, up by 0.02 per cent.

Stock to watch today: Faze Three Limited

Mats and More Private Limited, a wholly owned subsidiary of Faze Three Limited, has acquired existing factory premises from Basell Polyolefins India Private Limited situated in Aurangabad.

The cost of acquisition for the said premises is ₹5.16 crore and has an area of 10,500 sq. metres.

Stock market live updates: EaseMyTrip opens offline stores in Delhi, other cities

EaseMyTrip (Easy Trip Planners) opens its first offline retail stores in Delhi and Agra, Uttar Pradesh.

Stock to watch today: Zydus Lifesciences

Zydus Lifesciences receives USFDA approval for Doxepin Tablets in 3 mg and 6 mg strengths.

Gold drops 0.67% to Rs 58,290 per 10 grams

Gold dropped by 0.67 per cent to Rs 58,290 per 10 grams as US 10-year Treasury yield reached its highest in 10 months, underpinned by fears that US interest rates might stay higher for longer, contributing, along with China’s economic woes.

Fed minutes showed policy makers were divided over the need for more interest rate increases, with some citing the risk to the economy of pushing hikes too far.

Stock Market Live Updates: Sensex sheds over 200 pts, Nifty below 19300 in early trade

Indian markets opened lower on Friday. BSE Sensex lost 205 points or 0.32% to trade at 64,945, while NSE Nifty lost 78 points or 0.4% to trade at 19,286 in early trade

Stock market live updates: Confidence Petroleum commissions 13 new auto LPG dispensing stations

Confidence Petroleum India Ltd has commissioned 13 new Auto LPG Dispensing Stations (ALDS) to cater to green fuel requirement of cars and auto rickshaws.

Stock in focus today: Interglobe Aviation Ltd (Indigo)

Indigo weightage increased by 4% on FTSE All-World Index.

Stock to watch: Tata Capital Financial Services Ltd

Tata Capital Financial Services Limited has sanctioned a loan facility of Rs 6 crore to Star Housing Finance Limited.

Stock market live updates: NDTV gets I&B nod for 4 news channels

The Ministry of Information & Broadcasting has granted permission to NDTV to uplink and downlink four news and current affairs channels namely ‘NDTV Rajasthan’, ‘NDTV Madhya Pradesh / Chhattisgarh’, ‘NDTV Gujarati’ and ‘NDTV Marathi’.

The company plans to launch ‘NDTV Madhya Pradesh/Chhattisgarh’ on August 21. The launch date for the other channels would be announced once finalised, it said.

Stock to watch today: HP Adhesives

HP Adhesives to consider stock split on September 4.

Stock market live updates: Important dividend related updates

Ex-Dividend 21 August 2023 (Monday) Last date for Cum-Dividend Today A-1 Acid Ltd

Dividend Per Share Rs. 1.5

Previous day Closing Price – Rs. 370.65

Chambal Fertilisers & Chemicals Ltd.

Dividend Per Share Rs.3

Previous day Closing Price – Rs. 263.85

Competent Automobiles Co. Ltd.

Dividend Per Share Rs.1

Previous day Closing Price – Rs. 349.45

Finolex Industries Ltd.

Dividend Per Share Rs.1.5

Previous day Closing Price – Rs. 204.15

LTD Cementation India Ltd.

Dividend Per Share Rs.0.75

Previous day Closing Price – Rs. 204.95

Jagsonpal Pharmaceuticals Ltd.

Dividend Per Share Rs.5

Previous day Closing Price – Rs. 463.1

K.P. Energy Ltd

Dividend Per Share Rs.0.25

Previous day Closing Price – Rs. 374.5

Kriti Nutrients Ltd

Dividend Per Share Rs.0.25

Previous day Closing Price – Rs. 78.26

Linc Ltd

Dividend Per Share Rs.5

Previous day Closing Price – Rs. 623.1

Reliance Industries Ltd.

Dividend Per Share Rs.9

Previous day Closing Price – Rs. 2537.75

Stovec Industries Ltd.

Special Dividend Per Share Rs. 157

Previous day Closing Price – Rs. 2586.6

Tamboli Capital Ltd.

Dividend Per Share Rs.1

Previous day Closing Price – Rs. 134.1

Transpek Industry Ltd.

Dividend Per Share Rs.27.5

Previous day Closing Price – Rs. 1906.65

Uni Abex Alloy Products Ltd.

Dividend Per Share Rs.20

Previous day Closing Price – Rs. 1741.8

Vascon Engineers Ltd

Dividend Per Share Rs.0.25

Previous day Closing Price – Rs. 51.55

Stock market live updates: Jhunjhunwala-backed Concord Biotech will be listed today

Shares of Jhunjhunwala-backed Concord Biotech will be listed at the bourses today. The company has fixed the IPO price at ₹741 at the upper end of the price band ₹705-741. The company had raised ₹1,550.59 crore through the nitial public offering

Securities that are under ban for trade today

• CHAMBLFERT
• DELTACORP
• GNFC
• GRANULES
• HINDCOPPER
• IBULHSGFIN
• INDIACEM
• PNB
• SAIL
• ZEEL

Stock to watch: Dolphin Offshore Enterprises (India) Limited

Dolphin Offshore Enterprises (India) Limited has informed the exchanges that pursuant to the NCLT Order dated September 29, 2022, under Insolvency and Bankruptcy Code, 2016, the reduced public shareholding of the company will be listed and admitted to dealings on the both the exchanges.

The stock has been under suspension for procedural reasons.

IPO screener: Srivari Spices listing today on NSE-Emerge

Telangana-based Srivari Spices and Foods that was subscribed a whopping 418.5 times, will be listed on the NSE-Emerge, the SME platform, on Friday.

Investors poured in nearly ₹2,700 crore worth of bids, against the issue size of ₹9 crore, bidding for 64.27 crore shares, against the offer size of 15.36 lakh equity shares. The price band of the issue was ₹40-42.

While the retail investors’ portion was subscribed 518 times, the non-institutional investors’ portion was subscribed 786 times, and the QIB portion 79 times.

Stock market live updates: Jio Financial will be removed from FTSE Indices

Jio Financial will be removed from FTSE Indices with a valuation of zero on August 21. This is due to the stock not being listed within the stipulated 20 business days, and there hasn’t been any confirmation of a firm trading date.

Stock to watch today: Bajoria Financial Services Pvt Ltd

Bajoria Financial Services Pvt Ltd, an entity of Indian Promoter Group of IFGL Refractories Ltd, has acquired 55,90,156 shares from Krosaki Harima Corporation, Japan (foreign promoter). This acquired shares constitute 15.51 per cent stake in IFGL Refractories.

Stock to watch today: Sula Vineyards Limited

Sula Vineyards Limited has said that its iconic Wine Tourism operations registered growth over the last weekend as visitor attendance surged at Nashik and Bengaluru on August 12-14. Revenues over the three days touched ₹2.08 crore, 40 per cent higher than the previous three-day record of ₹1.47 crore.

Equity shares of SRG Housing Finance will be listed and admitted to dealings on the NSE from August 21.

Stock to watch today: 3i Infotech

3i Infotech has informed stock exchanges that the Supreme Court has set aside ₹51.24 crore as against the Service Tax Department levy of service tax amounting to ₹80.03 crore on the ground that classification mentioned in the show cause notice viz. “management, maintenance and repair services” is erroneous.

Stock market live updates: Adani Energy Solutions acquires Megha Engineering’s KPS 1 Transmission

Adani Energy Solutions Limited (formerly known as Adani Transmission Limited) has signed definitive documents for acquisition of KPS 1 Transmission Limited from Megha Engineering & Infrastructures Limited. KPS1 Project includes implementation of KPS1-Khavda PS GIS (KPS2) 765 kV double circuit line and augmentation of Khavda PS1.

Stock to watch today: NTPC

NTPC has inked a business transfer agreement to hive off its mining business, comprising six coalfields, to its arm NTPC Mining Ltd. Based on book value as per the Audited Financials as of March 31, 2023, the consideration of this transaction is ₹7,794.99 crore payable through a combination of cash/ equity shares/ debt liability.

Stock market live updates: Jain Irrigation Systems plans to raise Rs 200 crore

Jain Irrigation Systems plans to raise around Rs 200 crore through preferential allotment of equity share warrants. The price for the 1,63,21,607 equity share warrants — to be worked out under a certificate of the statutory auditor — is likely to be about ₹46.64 a share, the company said in a regulatory filing.

Stock to watch today: Adani Green Energy

Mundra Solar Energy Limited, an associate company of Adani Green Energy, has received commercial operational date certificate from Solar Energy Corporation of India for solar PV Cells and Solar PV Modules manufacturing plant located at Mundra, Gujarat. The plant has a capacity of 2 GW per annum. Adani Green Energy Limited holds 26 per cent stake in MSEL through its wholly owned subsidiary Adani Renewable Energy Holding Four Limited, while Adani Enterprises holds 74 per cent through its wholly-owned subsidiary Adani Tradecom Limited.

Stock to watch today: Sheela Foam Limited

India Ratings and Research (Ind-Ra) has assigned Sheela Foam Limited (SFL) a long-term issuer rating of ‘IND AA’ with a stable outlook.

Stock market live updates: KIMS arm acquires stake in Kondapur Healthcare

Krishna Institute of Medical Sciences Limited has informed the exchanges that its material subsidiary KIMS Hospital Enterprises Private Limited has made an investment by acquiring equity stake of 8.06 per cent stake in Kondapur Healthcare Ltd.

Stock market live updates: LTIMindtree gets Aflac project

LTIMindtree has informed the exchanges that US-based supplemental insurance provider Aflac has selected the company as a digital transformation partner for application modernisation and cloud transformation. The partnership will rearchitect Aflac’s legacy applications with a cloud-first approach in collaboration with Amazon Web Services, ensuring performance efficiency, cost optimization, and operational excellence with heightened security.

Stock to watch today: NLC to set up 6,031 MW capacity by 2030

NLC India Limited, a navaratna central public sector undertaking, contemplates establishing 6,031 MW capacity by 2030. The company has secured 510 MW solar project capacity in the CPSU Scheme Phase-11 Tranche-III floated by Indian Renewable Energy Development Agency (IREDA) through competitive bidding. 300 MW solar project capacity is under execution at Barsingsar in Bikaner District, Rajasthan. The EPC contract for the project has been awarded to Tata Power Solar Systems through competitive bidding.

Stock market live updates: NSE rejigs Nifty Next 50; here are the stocks to watch

ACC, FSN E-Commerce, HDFC Asset Management, Page Industries and Indus Towers will be out of Nifty Next 50 from September 29. In a press release, the National Stock Exchange said these shares will be replaced by Punjab National Bank, Shriram Finance, Trent, TVS Motor Company, and Zydus Lifesciences.

Stock to watch: South Indian Bank

RBI has approved appointment of PR Seshadri as Managing Director and CEO of South Indian Bank.

The Reserve Bank of India has approved the appointment of PR Seshadri as the Managing Director and CEO of the Thrissur based South Indian Bank. The appointment will be for a period of three years with effect from October 1.

Stock to buy today: IFB Industries

The short-term outlook is bullish for IFB Industries. The stock surged over 5 per cent on Thursday, breaking above the key resistance around ₹860.

The region between ₹870 and ₹860 is good support and limits the downside. Immediate resistance is at ₹910. The chances are looking high for the stock to break ₹910. Such a break can take IFB Industries’ share price up to ₹960 initially. Click here to know the complete technical analysis.

Stock Market live updates| Day Trading Guide: Intraday supports, resistances for Nifty50 stocks

Here are the key intraday supports and resistances to watch out for Nifty Futures, RIL, ONGC, TCS, Infosys, HDFC Bank, SBI, and ITC.

Gift Nifty indicates 100-pt gap-down opening for NSE Nifty50

Gift Nifty at 19303 indicates a gap-down opening of up to 100 points for Nifty on Friday. According to analysts, market is likely to remain in consolidation phase with downward bias.

Snapping their two-day winning run, equity benchmarks Sensex and Nifty closed in the negative territory on Thursday, tracking losses in index majors Reliance Industries, ITC, and HDFC bank amid a weak trend in global markets.

The BSE Sensex declined 388.40 points or 0.59 per cent to settle at 65,151.02. During the day, it fell by 493.32 points or 0.75 per cent to 65,046.10.

The NSE Nifty slipped 99.75 points or 0.51 per cent to end at 19,365.25.