Stock Market Live Updates: Sensex up over 250 pts, Nifty around 20,100 in early trade

Stock market live updates: Add-Shop E-Retail Ltd has opened 25 new franchises across the country.

The stock surged 2.53% to trade at Rs 38.85 on BSE.

CME Group’s FedWatch Tool currently indicates a 93% chance the Federal Reserve will leave interest rates later this month but a 43.4% chance of another rate hike in November.

Crude oil futures traded higher on Tuesday morning as the market awaited the release of crucial monthly oil market forecast from OPEC later in the day.

At 9.15 am on Tuesday, November Brent oil futures were at $91, up by 0.40 per cent; and October crude oil futures on WTI (West Texas Intermediate) were at $87.71, up by 0.48 per cent. September crude oil futures were trading at ₹7272 on Multi Commodity Exchange (MCX) in the initial trading hour of Tuesday morning against the previous close of ₹7248, up by 0.33 per cent; and October futures were trading at ₹7225 as against the previous close of ₹7195, up by 0.42 per cent.

Opening Bell: Sensex gains over 350 pts, Nifty around 20,100 in early trade

Stocks in news: Power Grid to establish Inter-State Transmission System Project for evacuation of power from REZ in Rajasthan (20 GW)

Stocks in news: Krishna Institute of Medical Science (KIMS) acquired a further 13.24 percent stake in Kondapur Healthcare for Rs 20 crore

Stock market live updates: TVS Supply Chain will acquire 100 percent equity shares of three wholly-owned subsidiaries at Rs 450 crore.

The acquiring companies are TVS Logistics Investments UK Limited; TVS Logistics Investments Inc. USA and TVS Supply Chain Solutions Pte. Ltd, Singapore, says a company announcement to the National Stock Exchange.

TVS Supply Chain lost 1.92% to trade at Rs 240.65 on NSE.

Stocks to watch today: TVS Motor reappoints KN Radhakrishnan as Director and CEO, effective from October 23

Torrent Power clarified that promoter group company has no plan to create any pledge over promoter’s shares

Dinesh Lahoti has resigned as Company Secretary and Compliance Officer of Sun Pharma Advanced Research Co with effect from September 11

Stocks in news: Mishtann Foods will issue up to 7.4 crore convertible equity warrants with each warrant convertible into one fully paid-up equity share of the company

Stocks to watch today: Adani group stocks

Impact on Adani Enterprises to be watched with petitioners in the Adani case have filed their response to SEBI’s status report on the Adani-Hindenburg probe

Stocks to Watch: Borosil Renewables files writ petition to challenge Income Tax demand notice

Borosil Renewables Limited : Company had received an Income Tax demand notice along with an Assessment Order (“Order”) for the assessment year 2016-17 from the Assessment Unit of the Income Tax Department, for a demand of approx. Rs. 1952.56 lakhs. After examining the Order and based on the advice from tax / legal experts, the Company has filed Writ Petition before the Hon’ble High Court of Judicature at Bombay, seeking to quash, cancel and set aside the said Income Tax notice and Assessment Order issued against the Company and to grant stay of any further proceeding consequent to the said notice and order.The writ petition has been e-filed today i.e. on September 11, 2023

Share Market Today: Trading Tweaks

Ex-date Dividend: AIA Engineering, RACL Geartech, Jupiter Wagons, MSTC, Skipper

Ex-date AGM: Jupiter Wagons, MSTC, Skipper Ex/

Record-date Bonus Issue: Power Grid Corp.

Ex-Record date Buy Back: Larsen & Toubro

Record-date Dividend: RACL Geartech.

Move Into Short-Term ASM Framework: Bombay Burmah Trading Corp, GTL Infrastructure, Jayaswal Neco Industries, Surya Roshni, and Transindia Real Estate.

Move Out Of Short-Term ASM framework : Sharda Motor Industries.

Share Market Today: Insider Trades

Godrej Agrovet: Promoters of TAD Family Trust sold 45,000 shares, while Tanya Dubash bought 45,000 shares on Sept. 8. Monarch Networth Capital: Promoter Vaibhav Shah bought 65,000 shares on Sept. 8.

DB Realty: Promoter Shravan Kumar Bali sold 39,327 shares on Sept. 7.

GATI: Promoter TCI Finance sold 52,000 shares on Sept. 8.

Share Market Today: Bulk Deals

Dhani Services: Maybank Kim Eng Securities bought 31 lakh shares (0.5%) at 44.99 apiece.

KNR Constructions: HDFC Mutual Fund bought 15.5 lakh shares (0.55%) at 273.52 apiece.

K&R Rail Engineering: Gupta Jee Tent Services bought one lakh shares (0.5%) at 765.45 apiece.

Andhra Paper: CD Equifinance bought 2.9 lakh shares (0.73%) for Rs 577.01 apiece.

Rishabh Instruments: Bandhan Mutual Fund A/C Small and Midcap Equity SME Fund bought 2.76 lakh shares (0.72%) at Rs 451.29 apiece, Quant Mutual Fund bought four lakh shares (1.05) at Rs 462.23 apiece, and Nippon India Mutual Fund bought 10 lakh shares (2.63%) at Rs 457.09 apiece.

Ugro Capital: Samena Special Situations Mauritius sold 16.5 lakh shares (1.78%) at Rs 300.01 apiece, while RBA Finance & Invt. Co. bought 10.5 lakh shares (1.13%) at Rs 300 apiece.

Mahanagar Gas: Norges Bank on behalf of the Government Pension Fund Global sold 10.65 lakh shares (1.07%) at Rs 1,050.16 apiece.

Tamil Nadu Newsprint: CD Equifinance Private sold 6.27 lakh shares (0.9%) at Rs 269.61 apiece.

Share Market Today: Block Deals

Triveni Engineering & Industries: Rati Sawhney sold 88.8 lakh shares (4%) while STFL Trading and Finance bought 88.8 lakh shares (4%) at Rs. 348.90 apiece.

IDFC First Bank: Vembu Vaidyanathan sold 5.07 crore shares (0.76%), while Goldman Sachs Trust II bought 2.47 crore shares (0.37%), GQG Partners Emerging Markets Equity Funds bought 1.58 crore shares (0.24%), Reliance Trust Institutional Retirement Trust bought 35.19 lakh shares (0.05%), Abu Dhabi Investment Authority bought 11.62 lakh shares (0.02%), and AustralianSuper bought 10.80 lakh shares (0.02%) at Rs 94.5 apiece, among others.

IPO Watch: EMS public issue closes today

The Rs 320-crore IPO of EMS Limited will close today for public subscription. The issue was subscribed 15.05 times at the end of Day 2. The company comes out with a price band of Rs 200-211 . The issue comprises a fresh issue of Rs 146.24 crore and 82.94 lakh shares under Offer for Sale by the Promotor, Mr. Ramveer Singh. The IPO will close on September 12. At the upper price band, the company’s IPO size would be Rs. 320-321 crore. Read more.

Stock Market Live Today: Sectoral Watch: Steel Stocks to remain in focus

India imposes anti-dumping duty on some Chinese steel for 5 years on news reports

Stock Market Live Today: Indian markets likely to open higher, following positive US trend

Deepak Jasani, Head of Retail Research, HDFC securities. — Indian markets could open higher, despite mixed Asian markets today and in line with slightly higher US markets on Sept 11

U.S. stock indexes finished higher on Monday, boosted by producers of luxury items and services including Tesla, as investors await inflation and retail-sales data later this week that should help guide the Federal Reserve’s interest-rate policy. The Nasdaq closed sharply higher on Monday as Tesla surged on optimism around artificial intelligence.

The August U.S. consumer-price index will be published Wednesday morning, while producer-prices and retail-sales reports for the same month are due on Thursday — all of which are likely to factor into the thinking of Federal Reserve policy makers as they consider whether to eventually adjust interest rates at their policy meeting next week.

Stock Market Today: NSE Celebrates Nifty50’s milestone of touching 20,000 points

Stock Market Today: Opening Bid: Indian equities poised for positive open, Gift Nifty at 20,130 signals strong start

Domestic markets are expected to open on a positive note despite ‘valuation’ concerns, especially in mid an small-cap space. Gift Nifty at 20,130 indicates another gap up opening for Nifty and Sensex. Nifty futures on Monday closed at 20,036.

Asian markets are trading flat on mixed cues from global markets in early trade on Tuesday despite positive closing at the US stocks overnight.

Brokerage House Recommendations

JP Morgan on Indigo: Maintain Overweight, target price at Rs 2880

Jefferies on Havells: Maintain Hold, target price at Rs 1420

Bernstein on Zomato: Maintain Outperform, raise target price at Rs 120

Nomura on Ultratech: Maintain Neutral; target price at Rs 8800

Macquarie on HUL: Maintain Buy, target price at Rs 2950

Nomura on HUL: Maintain Buy, target price at Rs 2950

UBS on HUL: Maintain Neutral, target price at Rs 2860

Citi on HUL: Maintain Neutral, cut target price at Rs 2880

Goldman Sachs on HUL: Maintain Neutral, cut target price at Rs 2725

Kotak on Laurus Labs: Downgrade to Sell, target price at Rs 300

Commodities Market Today: Sovereign Gold Bonds 2023-24 Series II: Should you subscribe?

The issue price is ₹5,873 post online discount; open between September 11 and 15

Commodities Market Today: Lead futures: Breakout sparks bullish momentum

Lead futures (continuous contract) on the Multi Commodity Exchange (MCX) moved out of a range on the upside and triggered an upward trend. The September futures of lead broke out of the ₹184-187 range last week.

Share Market Today: Stocks that will see action today: September 12, 2023

Buzzing Stocks: L&T, Reliance, ICICI Bank, Hindalco, L&T Finance Holdings, Kesar Termnals, PowerGrid, Regency Fincorp, Taurus Labs, Shree Rama Multi-Tech, Olectra Greentech, KIMS, Gufic Biosciences, Mishtaan Foods, Kinetic Engineering, Gallant Ispat

Stocks to Watch: Laurus Labs to acquire 37,641 equity shares of Laurus Bio for Rs 71.60 crore

The Board of Laurus Labs Limited has accorded its final approval for acquisition of 37,641 equity shares of face value of Rs.10 each of Laurus Bio Private Limited through secondary purchase of shares from one of the Promoters and non-executive director and his family members and also from few Employee/ex-Employee shareholders for an aggregate amount of Rs.71.60 crore. Pursuant to the above acquisition, the stake of the Company in Laurus Bio Private Limited shall reach to 87.58 per cent on fully diluted basis (including outstanding ESOPs and the Share Warrants).

Stock Market Live Today: Regulatory Move: SEBI announces framework for unitholders to nominate Directors on REITs and InvITs Boards

SEBI has notified the framework that allows holders of real estate investment trusts and infrastructure investment trusts to nominate representatives on the boards. Accordingly, unitholders who own at least 10 per cent of the outstanding REITs or InvITs, either individually or collectively, may nominate a director to the boards of investment managers of a REIT or InvITs.

Stocks to Watch: TVS Holdings appoints Sudarshan Venu as Managing Director

TVS Holdings: Company appoints Sudarshan Venu as Managing Director

Stocks to Watch: Lupin to transfer API manufacturing sites in deal with Lupin Manufacturing Solutions

Lupin: To enter into a business transfer agreement with arm Lupin manufacturing Solutions to carve out API manufacturing sites at Dabhasa & Visakhapatnam

Stocks to Watch: Securities in F&O Ban For Trade Date 12 SEPT 2023

CHAMBAL

DELTACORP

HINDCOPPER

IBULHSGFIN

INDIACEM

MANAPPURAM

PNB

SAI

Stocks to Watch: Kinetic Engineering promoters inject Rs 28 crore via equity and preference shares

Promoters of Kinetic Engineering has infused Rs 28 crore in the company through equity shares worth Rs 27.42 crore at Rs 120 per share and 80,000 Optionally Convertible Cumulative Preference Shares at Rs 120 each.

Stocks to Watch: Gufic Biosciences gets TGA and ANVISA approval for Parecoxib Sodium 40mg

Gufic Biosciences Limited (Gufic) has received approval from the Therapeutic Group Administration (TGA), Australia and the National Health Surveillance Agency (ANVISA), Brazil for Parecoxib Sodium 40mg Lyophilized Powder for Injection, a selective COX-2 inhibitor, which shall be used for short-term treatment of acute pain and post-operative pain in adult patients. Gufic has been persistently committed to saving and improving lives of patients across the globe with its continuous efforts through the international regulatory agencies to bring novel molecules for the mankind.

Stocks to Watch: Novelis secures anchor customer contract with Ball Corp for aluminum sheet supply

Novelis Inc., a leading sustainable aluminum solutions provider and subsidiary of Hindalco Industries, has announced that in early 2023 it signed a new anchor customer contract with aluminum can maker Ball Corporation in North America. Under the contract, Novelis will supply aluminum sheet to Ball can making plants in North America. With this contract and other commitments, Novelis has secured all of the beverage can capacity from its new plant in Bay Minette, Ala., underscoring the strong demand for the company’s high-recycled-content beverage can sheet. The new plant, expected to begin commissioning in 2025, will be the first fully integrated aluminum manufacturing plant built in the US in nearly 40 years and will have an initial capacity of 600,000 tonnes of finished goods primarily for the North American beverage can and automotive markets.

Stocks to Watch: Bain Capital set to sell Rs 850 crore stake in L&T Finance Holdings

Market buzz is that Bain Capital, which holds stake in L&T Finance Holdings Ltd under BC Invsts, is likely to sell stake worth up to Rs 850 crore via block deals.

Stock Market Live Today: Data focus: 72% of India’s super rich derive wealth from equity markets

The sharp rally in equity markets since March 2020 appears to have helped the affluent not just in India, but in other countries as well. In the last three years, until May 2023, a whopping 84 per cent of them noted a growth in their net wealth.

Stock Recommendations: Broker’s call: Triveni Turbine (Buy)

Our interaction with Triveni Turbine Limited (TTL) reinstates our faith in its strong growth trajectory, driven by increasing industrial demand for energy-efficient turbines. Management is confident of achieving strong order inflows in FY2024 and expects about 35 per cent revenue growth in the next couple of years.

Stocks to Watch: KKR to invest ₹2,069.5 crore in Reliance Retail Ventures

Private equity firm KKR will invest ₹2,069.5 crore in Reliance Retail Ventures for a 0.25 per cent stake, valuing the retail arm of Reliance Industries at ₹8.36-lakh crore, said a company statement.

Stocks to Watch: India, Saudi Arabia to expedite $50-billion west coast refinery project

India and Saudi Arabia will set up a joint task force to explore early implementation of the west coast refinery project for which the Arabian nation will invest $50 billion. A monitoring committee will also be created to ensure that the progress is as per plans.

Kharif Watch: Kharif rice production unlikely to fall but pulses, oilseeds output may drop on lower acreage

The government is confident of meeting the rice production target of 111 million tonnes (mt) in current kharif season after the surge in sowing area and a conducive weather in main growing regions. However, pulses and oilseeds production may drop, officials said, adding that surplus production in chana during the rabi season this year may help in meeting the shortfall in pulses while import may marginally go up in case of edible oils.

Economy Watch: Bank deposit rates to remain elevated, say experts

To support the current strong uptick in credit growth, bank deposit rates are expected to remain at elevated levels for a few months, say experts..

The reason for this is that year-on-year (y/y) credit growth is outpacing deposit growth. As on August 25, 2023, the y/y credit and deposit growth was 19.39 per cent and 12.93 per cent, respectively, per RBI data.

Stocks to Watch: L&T raises buyback price to Rs 3,200 per share amid favourable market sentiments

To complete the proposed buyback plan, and considering the present market sentiments, L&T has decided to increase the buyback price to Rs. 3,200 per equity share from the earlier announced price of Rs. 3,000

Stocks to Watch: Bharat Forge in talks with at least 10-12 countries for defence exports: Baba Kalyani

Bharat Forge Limited, one of the leading defence private company, is in talks with at least ten to twelve countries, including with the US), for exports of its artillery guns, armoured and protective vehicles, and components, its Chairman and Managing Director Baba Kalyani told businessline in an exclusive interview.

Stocks to Watch: Legal troubles hover around SpiceJet

Credit Suisse alleges non-payment of dues, while the Delhi High Court has granted an extension to settle a ₹100 crore arbitral award in favour of the Maran family.

SpiceJet said it will complete payment of Rs 100 crore to Kalanithi Maran by Tuesday

Stock to buy today: Rashtriya Chemicals & Fertilizers (₹132.75)

The short-term outlook is bullish for Rashtriya Chemicals & Fertilizers (RCF). The stock has begun the week on a strong note by surging 5 per cent. Strong support is now in the ₹129-127. Read more

Technical Analysis: Day trading guide for September 12, 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

Stock Market Live Today: “Nifty’s all-time high driven by strong local flows amid global gautions

Pratik Gupta, CEO & Co-Head, Kotak Institutional Equities

“What is really impressive about India’s NIFTY reaching this all-time high level is that it has been driven mainly by local flows in recent months, while FPI flow has been relatively subdued, partly due to limited global interest in Asia funds given the weak outlook for China which has a very high weightage in the region”.

Stock Market Live Today: Nifty hits 20,000: A ailestone on the journey with technical caution

Nilesh Shah MD Kotak Mahindra Asset Management Company Ltd-

“NIFTY at 20,000 is part of a journey and not a destination. Sitaron se aage jahan aur bhi hai. Where yesterday Sensex was, today NIFTY is. Where today Sensex is, tomorrow NIFTY will be there for the long term investors. However in a momentum market one has to be cautious.”

Stock Market Live Today: Technical Analysis: Nifty breaks 20K, potential targets and caution ahead

Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd

India’s resilient growth compared to global macroeconomic headwinds has given investors the confidence to maintain bullish bets and propelled benchmark Nifty past the 20K mark. The 7th consecutive session of gains has come despite persisting selling by foreign institutional investors and other vagaries like inflation, rising dollar, spiking US treasury yields and interest rate hike concerns. While undertone appears bullish, the market seems to be in an overbought position and hence caution may prevail going ahead. Technically, for the short-term period benchmark Nifty is holding a strong formation. On daily charts, the index has formed a bullish candle and on intraday charts it is consistently forming a higher high and higher low series formation, which is largely positive. For the trend following traders, 19935 could act as a key support level, above which the index could move up till 20100-20175. On the flip side, below 19935, traders may prefer to exit from long positions and below the same, we could see a one quick intraday correction till 19850-19825.

Stock Market Live Today: Kotak Cherry CEO cautions amid Nifty 50’s record high

Srikanth Subramanian, CEO, Kotak Cherry said “Its a liquidity driven rally due to positive sentiments around India that has help Nifty 50 index scale new all time high of 20000. However investors should exercise caution when treading in the market. Nifty 50 PE now goes closer to 25, which by any standard isn’t cheap. While markets are aggresive in terms of valuation, midcap and small cap stocks in particular, investors should clearly stay away from noise and make an informed choice. Meanwhile, the trajectory for broader markets from here onwards will depend on corporate earnings, inflation and interest trajectory, Oil Prices and of course the geopolitical situation, all of which, at this stage, augurs well for India”

Stock Market Live Updates: Kotak research stops recommendations on mid-, small-cap stocks

Kotak Institutional Investors has dropped recommendation on the mid-cap space as it cannot see too many options beyond the BFSI space that offer decent potential upside from their fair value.

There are limited points in trying to find fundamental reasons behind the steep increase in stock prices of several mid- and small-cap stocks with no meaningful changes in the fundamentals of most companies and, in fact, they have worsened in many cases.

Economy Watch: Retail inflation expected to range from 6.8% to 7.1% for August

The government will release the retail inflation number based on the Consumer Price Index (CPI) for August and the industrial growth number for July on Tuesday. While the expectation is that retail inflation could range from 6.8 to 7.1 per cent, the industrial growth rate could be 5 per cent.

Retail inflation for July was 7.44 per cent. The industrial growth rate in June was recorded at 3.7 per cent.

Stock Market Live Today: Japanese stocks open higher amid tech sector strength from Wall Street

Japanese stocks started the day with gains, mainly driven by the strong performance of technology shares on Wall Street. As of 6:30 am, the Nikkei 225 index was up by 0.56%, equivalent to 182.76 points, reaching 32,651.75, and the broader Topix index increased by 0.44%, or 10.10 points, standing at 2,370.58. In contrast, South Korea’s Kospi index showed weakness, declining by 0.21% to 2,551.59. The previous night on Wall Street saw the Nasdaq rising by 1.1%, the S&P 500 gaining 0.7%, and the Dow Jones Industrial Average increasing by 0.3%.