Sensex Today | Market Close Highlights : Foreign institutional investors (FIIs) net sold shares worth ₹3,309.76 crore, while domestic institutional investors (DIIs) bought ₹3,764.87 crore worth of stocks on March 22, provisional data from the NSE showed.
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Sensex Today | Market Close Highlights : The NSE F&O ban list for March 26 includes Biocon, SAIL, Tata Chemicals and Zee Entertainment Enterprises.
Sensex Today | Market Close Highlights : Stocks posted small moves as investors adopted a cautious stance before US data that may offer pointers on whether the recent rally has gone too far.
European equities held steady, while US futures ticked up after the S&P 500 Index’s drop on Monday. Treasuries were flat, while the dollar weakened against most of its Group-of-10 peers. MSCI’s Asian equity gauge held on to modest gains as shares rose in Hong Kong and Japan, but dropped in Australia and Taiwan.
Concern about a disconnect between earnings expectations and share prices has grown this week. US durable goods and consumer confidence data are due today ahead of the government’s closely followed personal consumption expenditures price index on Friday when many markets will be closed for Easter holidays. Federal Reserve Chair Jerome Powell is due to speak the same day.
For Vincent Juvyns, global market strategist at JPMorgan Asset Management, better visibility on the economy means that that focus is turning back to earnings going into the second quarter. “Markets are expensive, not too expensive, but it would be dangerous to bet on further upside without earnings driving it," he said.
Morgan Stanley and JPMorgan Chase & Co. strategists were the latest to warn that lofty valuations will be hard to justify if they’re not accompanied by an acceleration in company profits. The S&P 500 is up almost 10% this year on a combination of healthy US economic data, Fed rate-cut wagers and optimism about artificial intelligence.
In the US, shares of former president Donald Trump’s social media startup surged around 20% in premarket trading after it completed a merger with Digital World Acquisition Corp.
Meanwhile, the Financial Times cited Chief Investment Officer Andrew Balls as saying Pimco is holding a smaller-than-usual position in US Treasuries and prefers the bonds of countries such as the UK and Canada. Pimco believes inflationary pressures may lead the Federal Reserve to cut interest rates more slowly than other major central banks, according to the report.
In Asia, Japan’s Finance Minister Shunichi Suzuki said Tuesday the government will take appropriate steps against excessive currency moves, without ruling out any measures.
Dollar-yen is likely to stay above 150, according to Mitul Kotecha, head of foreign exchange and emerging market macro strategy Asia at Barclays Bank Plc in Singapore.
The offshore yuan strengthened for a second day after China’s central bank reinforced its support for the currency.
Oil was little changed after the biggest gain in a week, with OPEC set to affirm its policy of production cuts amid tensions in the Middle East and Russia. Gold hovered near a record high.
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26 Mar 2024, 03:42 PM ISTSensex Today Live : Closing Bell
Sensex Today Live : Indian benchmark indices broke the streak of three days of higher close to close the trading session on the red on Tuesday, as investors around the world treaded cautiously before the release of US data that may offer pointers on whether the recent rally has gone too far.
Sensex, which had opened lower at 72,396.97, was rangebound between a low of 72,363.03 and a high of 72,705.29 during the day. At close, Sensex was down 357.98 points, or 0.49%, at 72,473.96.
Meanwhile, the Nifty 50, which had opened lower at 21,947.90, also remained rangebound between a low of 21,947.55 and a high of 22,073.20 through the day. At close, the Nifty 50 was at 22,004.70, down 92.05 points, or 0.42%.
Bajaj Finance, NTPC, Larsen & Toubro, Axis Bank, and Tata Motors, were the top gainers on the Sensex at the close of trading, while Power Grid Corp., Bharti Airtel, Wipro, HDFC Bank, and Kotak Mahindra Bank, were the top drags for the day.
Meanwhile, on the Nifty, Bajaj Finance, Hindalco, Adani Ports & SEZ, Britannia, and NTPC, were the top gainers on the Nifty, and Bharti Airtel, Power Grid Corp., Eicher Motors, Wipro, and Divi's Labs, were the top drags on the index for the day.
The broader market was mixed at close, with the BSE MidCap index closing up 0.71%, and the BSE SmallCap index closing down 0.11%.
Across sectors, heavyweigh indices like Bank, Financial Services and IT, among others, ended the day in the red. Nifty Bank was down 0.56%, Financial Services was down 0.37%, IT was down 0.61%, FMCG was down 0.16%, and Auto was down 0.04% at close.
In contrast, the Oil & Gas index closed up 0.73%, Consumer Durables was up 0.46%, and Healthcare index was up 0.39%. The Realty index closed up 1.57%, and the Metal index closed up 0.37%, while the Pharma index ended the day down 0.03%.
26 Mar 2024, 03:18 PM ISTSensex Today Live : Sector Indices Heat Map
Sensex Today Live : Across sectors, heavyweigh indices like Bank, Financial Services and FMCG, among others, were in the red. Nifty Bank was down 0.55%, Financial Services was down 0.35%, IT was down 0.57%, FMCG was down 0.17%, and Auto was down 0.03%.
In contrast, the Oil & Gas index was up 0.71%, Consumer Durables was up 0.47%, and Healthcare index was up 0.39%.
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26 Mar 2024, 03:13 PM ISTSensex Today Live : Broader market indices heat map
Sensex Today Live : The broader market was up, with the BSE MidCap index up 0.75%, and the BSE SmallCap index up 0.03%.
26 Mar 2024, 03:07 PM ISTSensex Today Live : Gainers and Losers on Nifty
Sensex Today Live : Bajaj Finance, Britannia, Adani Ports & SEZ, Hindalco, and Larsen & Toubro, were the top gainers on the Nifty, and Power Grid Corp., Eicher Motors, Bharti Airtel, Wipro, and Kotak Mahindra Bank, were the top drags.
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26 Mar 2024, 03:05 PM ISTSensex Today Live : Gainers and Losers on Sensex
Sensex Today Live : Bajaj Finance, Larsen & Toubro, NTPC, Tata Motors, and IndusInd Bank, were the top gainers on the Sensex, while Power Grid Corp., Bharti Airtel, Wipro, Kotak Mahindra Bank, and HDFC Bank, were the top drags.
26 Mar 2024, 03:01 PM ISTSensex Today Live : 3 pm Market Update
Sensex Today Live : Indian benchmark were in the red on Tuesday, led by mixed signals from gloabal peers.
At 3 pm, Sensex was down 386.73 points, or 0.53%, at 72,445.21, and Nifty was down 81.35 points, or 0.37%, at 22,015.40.
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26 Mar 2024, 02:59 PM ISTSensex Today Live : Warburg Pincus-backed Avanse raises ₹1,000 crore in funding round led by Mubadala before IPO
Sensex Today Live : Avanse Financial Services, an education-centric non-banking financial company (NBFC) backed by Warburg Pincus and Kedaara Capital, declared on March 26 that it has secured primary capital of ₹1,000 crore. The funding round was spearheaded by Mubadala Investment Company, a firm based in Abu Dhabi, and saw participation from Avendus PE Investment Advisors Private Limited via its Avendus Future Leaders Fund II.
Moneycontrol was the first to report on November 30 that Avanse, which is preparing for an IPO, was seeking to raise ₹1,000 crore in primary capital from a private equity entity or a pre-IPO investor.
Avanse stated that the capital injection would bolster its standing in the fast-paced education financing sector by concentrating on delivering unique customer experiences and maintaining consistent profitable growth. As of December 2023, the company's assets under management (AUM) were valued at ₹12,147 crore.
26 Mar 2024, 02:48 PM ISTSensex Today Live : SpiceJet resolve ₹755 crore liabilities with Export Development Canada
Sensex Today Live : SpiceJet, a domestic airline, has entered into a settlement agreement with Export Development Canada, Canada's export credit agency, to address liabilities amounting to ₹755 crore ($91 million). This is expected to result in savings of approximately ₹567 crore ($68.3 million), as announced by the airline on March 26.
As per the terms of the agreement, SpiceJet will gain complete ownership of 13 Q400 aircraft financed by EDC. The airline stated that this settlement represents the most significant progress in its financial restructuring efforts to date.
SpiceJet confirmed that it would make a comprehensive settlement payment to clear outstanding liabilities, which are nearly ₹755 crore according to SpiceJet's books of accounts.
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26 Mar 2024, 02:32 PM ISTSensex Today Live : Why the surge in gold loans raises red flags
Sensex Today Live : Is there a growing concern among regulators and policymakers about the gold loan market? Recently, the Reserve Bank of India imposed a prohibition on IIFL Finance, the second-largest non-bank finance company (NBFC) in the country specializing in gold loans, preventing it from issuing new gold loans.
This action follows a directive from the finance ministry last month instructing all banks to reassess their gold loan portfolios, as reported by PTI. The ministry highlighted concerns that bear a striking resemblance to the IIFL situation, such as insufficient collateral, cash repayments, and issues related to fee collection. (Read the full story here.)
26 Mar 2024, 02:14 PM ISTSensex Today Live : Adani Green unveils ambitious 45 GW renewable energy push in India by 2030
Sensex Today Live : In a significant stride towards green energy, Gautam Adani's business empire is building the largest renewable energy park in the world in Gujarat, India. This ambitious initiative is set to produce an impressive 45 gigawatts (GW) of power, predominantly from solar energy.
At the launch of the 'Energy Revolution: The Adani Green Energy Gallery' at the Science Museum in London, Gautam Adani, the Adani Group's chairman, introduced the group's renewable energy division, Adani Green Energy, as the catalyst for this shift. He underscored the firm's dedication to preserving the planet for both the current and future generations. (Read the full story here.)
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26 Mar 2024, 02:02 PM ISTSensex Today Live : 2 pm Market Update
Sensex Today Live : Indian benchmark indices had pared some of their losses, but were still in the red on Tuesday.
At 2 pm, Sensex was down 239.16 points, or 0.33%, at 72,592.78, and Nifty was down 47.05 points, or 0.21%, at 22,049.70.
26 Mar 2024, 01:52 PM ISTSensex Today Live : Pidilite ready to tackle the competition, but valuation remains a sticking point
Sensex Today Live : Shares of Pidilite Industries Ltd reached a fresh 52-week peak of ₹2,994 on Tuesday. Even with the looming threat of competition from paint firms and unstructured manufacturers, certain positive elements could enable Pidilite to maintain its competitive advantage and keep investors interested in the stock. Nevertheless, the exceedingly high valuations could pose a challenge. (Read the full story here.)
26 Mar 2024, 01:45 PM ISTSensex Today Live : From AI to KYC, a hectic 100 days for next govt
Sensex Today Live : Initiatives to enhance emerging sectors such as semiconductors and artificial intelligence, along with strategies to simplify life for citizens, will be prioritized in the 100-day program that the government is currently formulating for execution post the national elections scheduled from April to June, according to two individuals privy to the discussions.
The 100-day program will incorporate policy measures necessary for both short-term and long-term growth. Ministers have instructed secretaries from various departments to engage with stakeholders over the forthcoming month to generate new ideas. These proposals will be discussed in the first cabinet meeting following the elections, as stated by one of the aforementioned individuals. (Read the full story here.)
26 Mar 2024, 01:30 PM ISTSensex Today Live : Capital markets in India have seen steady domestic flows: BoA's Balakrishnan
Sensex Today Live : Raj Balakrishnan, co-head of India Investment Banking at Bank of America (BoA), states in an interview that the Indian capital markets have experienced consistent domestic flows, enabling them to handle large trades, regardless of the circumstances. Balakrishnan, a veteran at the firm for over twenty years, asserts that the Indian economy is in excellent condition and anticipates a real GDP growth of 6-7% in the next 5-10 years. (Read edited excerpts from the interview here.)
26 Mar 2024, 01:15 PM ISTSensex Today Live : Small-cap surge leaves Street divided
Sensex Today Live : Is it a case of being perilously oversold or is there still a considerable climb to the peak? The thrilling surge in small- and mid-cap stocks over the previous year has left analysts split on the sustainability of this bullish trend.
Fascinatingly, investors are also clearly divided, with retail investors pouring funds into small-cap stocks with near zealous enthusiasm, while institutional investors are adopting a more cautious stance. (Read the full story here.)
26 Mar 2024, 01:02 PM ISTSensex Today Live : 1 pm Market Update
Sensex Today Live : Indian benchmark indices were down on Tuesday, led by weak signals from global peers that were trading mixed.
At 1 pm, Sensex was down 153.22 points, or 0.21%, at 72,678.72, and Nifty was down 26.90 points, or 0.12%, at 22,069.85.
26 Mar 2024, 12:47 PM ISTSensex Today Live : Kotak Institutional Equities says the overhang of surrender charges has ended on insurers, making current valuations attractive
Sensex Today Live : IRDA has notified the final guidelines on product regulations. These final guidelines have relaxed on guaranteed surrender value limits indicated in the draft regulations, resulting in near negligible impact on life insurance companies. As the big overhang has now been cleared, we reiterate a low ask rate in reverse valuations and our BUY view on the sector.
IRDA releases framework for capping surrender charges
IRDA has notified new product regulations that include guidelines for revised guaranteed surrender value (GSV) of life insurance policies. The draft regulation, released in December 2023, was punitive raising GSV to 75-100% of premiums paid. Final notified guidelines are relaxed and most products fall within the guidelines; hence, the impact on product profitability would be minimal. The GSV of three sample non-par products of large private companies, comparing the same with that in the draft proposal of December 2023 and final guidelines issued by IRDA over the weekend. GSV for policies of three insurance companies with ticket size of ₹100,000 is 30% for policies surrendered in year 2, increasing to 50% by year 4 and 70-75% by year 8. This is broadly in line with the final guidelines.
We remain assertive on all listed life players. Key positives—(1) low ask rate of valuations (explained later), (2) strong runway for growth and (3) long-term opportunity for insurance penetration in India—support our view on the sector.
With a low-margin base, increase in partnerships and a focus on increasing policies (volume), most companies are well-placed for growth. Margins may be weak in 4QFY24E due to excessive focus on ULIPs.
All eyes will be on VNB trajectory for FY2025E, with the following positives—(1) low base of margins, (2) increase in partnership to drive growth, with a focus on lower tickets, (3) ongoing momentum in ULIPs and (4) likely cut in rates during the year prompting an upward sloping yield curve and hence, demand for non-par products.
Challenges include (1) lagged impact of tax changes for high ticket policies ( ₹0.5 mn+), (2) likely shift in focus of banks to deposit mobilization, (3) increase in payouts and (4) low offtake of non-par at the beginning of the year. Max Life is best placed at the current juncture; SBI Life remains a steady ship.
With big uncertainty over the impact of the surrender penalty behind us, we draw attention to inexpensive valuations in the sector.
Current market prices imply long-term premium growth of 3-7% for private life insurers compared with the 9-11% we assume in our fair value calculation.
Multiple headwinds have led to correction in stock prices of life insurers—(1) change in taxation of traditional life insurance policies and (2) earlier draft proposal on GSV of non-par products.
Life insurers have shifted product strategy to deliver growth in 11MFY24 and the ask rate for APE growth in March 2024E remains benign for most players; however, margins may be a tad weak due to focus on ULIPs.
26 Mar 2024, 12:31 PM ISTSensex Today Live : AAA Technologies bags order from National Informatics Centre to perform security audit of NIC data centres in Pune and Hyderabad.
Sensex Today Live : AAA Technologies informed the exchanges today that it has bagged a purchase order from National Informatics Centre to perform a comprehensive security audit of its data centers in Pune and Hyderabad.
In an exchange filing, the company said, "This is to inform that our Organization, AAA Technologies Limited has received purchase order from National Informatics Centre Services Incorporated (NICSI) (A Government of India Enterprise under NIC), Ministry of Electronics and Information Technology to perform Comprehensive Security Audit of National Data Centers of National Informatics Centre (NIC)- Pune and Hyderabad".
26 Mar 2024, 12:20 PM ISTSensex Today Live : Sector Indices Heat Map
Sensex Today Live : Major heavyweight indices were in the red, with the Bank index down 0.41%, the IT index was down 0.57%, and the FMCG index was down 0.24%.
26 Mar 2024, 12:14 PM ISTSensex Today Live : Broader market indices heat map
Sensex Today Live : The broader market was in the green, with the BSE MidCap index up 0.44%, and the BSE SmallCap index was up 0.06%.
26 Mar 2024, 12:11 PM ISTSensex Today Live : Gainers and Losers on Nifty
Sensex Today Live : Bajaj Finance, Bajaj Finserv, ONGC, Britannia, and Adani Ports & SEZ, were the top gainers on the Nifty, while Eicher Motors, Power Grid Corp., Wipro, Divi's Lab, and UltraTech Cement, were the top losers.
26 Mar 2024, 12:05 PM ISTSensex Today Live : Gainers and Losers on Sensex
Sensex Today Live : Bajaj FInance, Bajaj Finserv, NTPC, Larsen & Toubro, and Tata Motors, were the top gainers on the Sensex, while Power Grid Corp., Wipro, UltraTech Cement, Tech Mahindra, and Bharti Airtel, were the top losers.
26 Mar 2024, 12:02 PM ISTSensex Today Live : 12 pm Market Update
Sensex Today Live : Indian benchmark indices were down on Tuesday, led by weak signals from global peers that were trading mixed.
At 12 pm, Sensex was down 223.93 points, or 0.31%, at 72,608.01, and Nifty was down 44 points, or 0.2%, at 22,052.75.
26 Mar 2024, 11:53 AM ISTSensex Today Live : Sundaram-Clayton Limited declares interim dividend of ₹5.15, fixes April 4 as record date
Sensex Today Live : Sundaram-Clayton Limited declared an interim dividend of ₹5.15 for FY24 on March 26. In an exchange filing, the company informed that the record date for the interim dividend is April 4.
In an exchange filing, the company said, "The Board of Directors of the Company at its meeting held today, declared an interim dividend of Rs. 5.15/- per share (103%) on 2,02,32,104 equity shares of Rs.5/- each fully paid up, absorbing a sum of Rs. 10.42 Cr, for the financial year ending 31st March 2024."
The company added that the dividend payment will be made within a period of 30 days from the declaration of interim dividend, as provided in the Companies Act, 2013
26 Mar 2024, 11:45 AM ISTSensex Today Live : Kotak Institutional Equities says OEM spends remain elevated for ERD services
Sensex Today Live : Outlook on R&D spends by most automotive clients suggests continued spends on electrification, autonomous and softwarization initiatives. However, spend intensity is expected to peak in CY2024, with few OEMs indicating decline in spends from CY2025.
Auto OEMs are likely to outpace Tier-1 suppliers on R&D investments in CY2024E. ERD services having higher exposure to Tier-1 suppliers are likely to underperform. Valuations imply sustained elevated growth over the long term—unlikely, in our view. Retain SELL on TELX, LTTS, TTL and KPIT.
Investments by automotive clients in multiple areas such as (1) technology transition, (2) exploring emerging technologies and (3) maintenance of existing platforms led to robust double-digit growth in R&D spends across most OEMs.
Auto OEMs continue to invest in priority areas as part of their existing programs to launch SDVs based on new architectures starting CY2026. This is despite (1) challenging market conditions, (2) slower-than-expected ramp-up in BEV sales and (3) pricing pressure associated with incoming competition from Chinese OEMs.
R&D spend intensity is likely to remain at elevated levels at most auto OEMs in CY2024, but is also likely to mark peak spend intensity. Some OEMs have indicated reduction in absolute R&D spends from CY2025.
Regulatory nudges, especially in Europe, would also influence spends by auto OEMs on energy transition. Most OEMs are on track to meet new CO2 emission targets, effective CY2025, in Europe, but await better clarity on long-term targets.
Tier-1 suppliers have been impacted due to evolving business dynamics. Suppliers of mechatronics components used in ICE powertrain have been impacted. This is reflected in the focus on R&D efficiency and subdued incremental investments. ERD vendors such as TELX and LTTS with higher exposure to auto Tier-1 suppliers are likely to underperform on growth in the vertical.
Strong growth rate in the transportation vertical across companies has led to increased optimism on sustenance of growth at elevated levels. Current valuations imply a revenue CAGR of ~18-20% over the next 10 years at KPIT, TTL and TELX. We remain cautious, given indications of moderating spends by automotive clients. We prefer Cyient, Infosys (BUY) and TCS (ADD), which appear attractive picks within our coverage.
26 Mar 2024, 11:30 AM ISTSensex Today Live : Global value chains the missing link in India’s growth story
Sensex Today Live : The ICT revolution led to a surge in globalization that the world observed. The inception of the World Trade Organization in 1995 prompted countries worldwide to reduce tariffs and non-tariff barriers and implement policies to draw foreign direct investment. This progress enabled the development of global value chains (GVCs), which internationalized the fragmentation of production, thereby promoting economic growth, aiding in poverty alleviation, and creating jobs. (Read the full story here.)
26 Mar 2024, 11:17 AM ISTSensex Today Live : Kotak Institutional Equities sees light at the end of the tunnel for diagnostics companies
Sensex Today Live : Kotak Institutional Equities has double upgraded DLPL from SELL to ADD, with a raised FV of ₹2,360, after a prolonged period of stock underperformance. We also raise METROHL’s FV to Rs1,600, maintaining a REDUCE rating, given fair valuations.
There has been increasing pricing sanity in diagnostics over the past one year. Our latest pricing exercise across seven cities suggests further improvement in pricing trends.
Even as the pricing differential of listed incumbents with online players stays elevated at 2.0-2.6X, an increasingly benign competitive landscape alleviates any major concerns on structural volume growth and margins of DLPL and METROHL.
METROHL has raised prices by 5% qoq across KIE’s sample test bouquet.
Pricing for other incumbents such as DLPL, Thyrocare and Vijaya remained largely unchanged. We highlight that most larger incumbents have raised prices by ~5% over the past one year. Among hospitals and offline players, Lupin hiked prices by 12% qoq in 4QFY24, while Aster DM and Medplus tweaked their pricing in Hyderabad by 1-3% qoq across KIE’s sample test bouquet.
Since raising prices by ~2X in early FY2024, APHS has not taken any significant pricing actions in FY2024.
On the online front, varied trends surfaced once again, as Redcliffe, mFine and Healthians cut prices in 4QFY24 by 9-20% qoq.
We note that Healthians’ prices have now touched a new low.
On the flip side, Netmeds has raised prices by ~35% across our sample test bouquet over the past six months.
Among other online platforms, Tata 1mg and Orange Health also raised prices qoq. Healthians and Tata 1mg are now the most aggressive online players in all seven cities, except Delhi, where Netmeds stays the most aggressive player.
Despite an increasingly benign pricing environment, we highlight that the pricing of incumbents across cities still remains 2.0-2.6X higher than the cheapest organized alternative, thereby limiting the possibility of a significant volume recovery.
Compared with listed peers, the recent correction has been particularly severe in DLPL (~15% in the past one month), led by its CEO exit. We believe DLPL has an able leadership team in place with Dr Om Manchanda at the helm as MD. Mr Shankha Banerjee’s recent appointment as CEO also provides continuity.
Our view of the impact on diagnostics of the recent SC diktat remains similar to hospitals, with the difference being that we expect lower price points in diagnostics to limit any major detrimental regulatory actions.
Compared with a historical 1-year forward P/E premium of 20%+, DLPL is now trading at a discount to METROHL. We raise our DCF-based FV of DLPL to Rs2,360 and METROHL to Rs1,600, largely led by increased growth estimates beyond FY2026E, as we build in lower competitive intensity.
26 Mar 2024, 11:02 AM ISTSensex Today Live : 11 am Market Update
Sensex Today Live : Indian benchmark indices were down on Tuesday, led by weak signals from global peers that were trading mixed.
At 11 am, Sensex was down 283.96 points, or 0.39%, at 72,547.98, and Nifty was down 68.55 points, or 0.31%, at 22,028.20.
26 Mar 2024, 10:53 AM ISTSensex Today Live : Som Distilleries increases beer production capabilities ahead of Summer season
Sensex Today Live : Som Distilleries today informed the exchanges that its subsidiary Woodpecker Distilleries, a prominent player in the beverage industry in Southern India, has expanded the company's project in Hassan with the recent infusion of equity to commence trial production well in time to leverage the peak beer consumption season.
The company said that it is commencing trial runs on 30th March 2024 with the help of this equity investment in the subsidiary company.
In the exchange filing, the company said, "We have bolstered our production capabilities and optimized our processes, ensuring that we can meet the increased demand expected during the peak beer consumption season. This strategic move not only positions us for success but also reinforces our dedication to providing customers with exceptional products that exceed their expectations".
26 Mar 2024, 10:29 AM ISTSensex Today Live : How increasing M&A activity is boosting India's healthcare
Sensex Today Live : Since the onset of COVID-19, India's contribution to global transactions in the healthcare sector has seen a notable surge, indicating that the industry is on the brink of a revolutionary phase.
Despite challenges such as global supply chain interruptions, geopolitical unrest, and inflation worries, the sector is predicted to experience significant non-organic growth through mergers and acquisitions, consolidations, joint ventures, and partnerships.
As the Indian healthcare market matures, the growth trend is likely to continue, offering a unique risk-return profile that is unmatched. (Read the full story here.)
26 Mar 2024, 10:17 AM ISTSensex Today Live : SKM Egg Products gets tax demand notices of ₹3.55 crores
SKM Egg Products today informed the exchanges that it has received two tax notices amounting to a total of ₹3.55 crores.
26 Mar 2024, 10:02 AM ISTSensex Today Live : 10 am Market Update
Sensex Today Live : Indian benchmark indices were down on Tuesday, led by weak signals from global peers that were trading mixed.
At 10 am, Sensex was down 274.24 points, or 0.38%, at 72,557.70, and Nifty was down 64.80 points, or 0.29%, at 22,031.95.
26 Mar 2024, 09:44 AM ISTSensex Today Live : Zydus Lifesciences' promoters to sell stake in company to meet minimum public shareholding norms
Sensex Today Live : Zydus Lifesciences today announced in an exchange filing that its promoters will sell 623,000 equity shares in the open market to achieve minimum public shareholding norms.
In the exchange filing, the company said, "Zydus Family Trust, the member of promoter and promoter group of the Company proposes to divest their shareholding as detailed hereinbelow to enable us to comply with the requirements of MPS as mandated under SCRR and the Listing Regulations... Up to 0.06% of the total paid up equity share capital of the Company aggrega ng to 6,23,000 equity shares".
26 Mar 2024, 09:33 AM ISTSensex Today Live : Welspun Corp subsidiary bags ₹512 crore contract from Saudi Arabia's Saline Water Conversion Corporation
Sensex Today Live : Welspun Corp informed the exchanges on Monday that its associate company East Pipes Integrated Company for Industry has secured a contract to manufacture and supply steel pipes to Saudi Arabia's Saline Water Conversion Corporation.
In an exchange filing, the company said, "We are pleased to inform you that our associate company East Pipes Integrated Company for Industry (EPIC), Saudi Arabia’s leading manufacturer of HSAW Pipes today announced contract sign off with Saline Water Conversion Corporation (SWCC) with value exceeding SAR 230 million (Approx. ₹512 crore) for manufacturing and supply of steel pipes. The duration of the contract is 30 months. The financial impact of the contract will be reflected in 1st quarter of financial year 2024/2025, till 3rd quarter of financial year 2026/2027".
26 Mar 2024, 09:31 AM ISTSensex Today Live : Sector Indices Heat Map
Sensex Today Live : Across sectors, heavyweight indices like Bank was down 0.29%, FMCG was down 0.46%, Financial Services was down 0.17%, while Consumer Durables, Pharma, and Oil & Gas, were also in the red.
26 Mar 2024, 09:28 AM ISTSensex Today Live : Broader market indices heat map
Sensex Today Live : The broader market was mixed, with the BSE SmalCap index down 0.11%, and the BSE MidCap index was up 0.06%.
26 Mar 2024, 09:25 AM ISTSensex Today Live : Gainers and Losers on Nifty
Sensex Today Live : HDFC Life, Bajaj Finance, Mahindra & Mahindra, Adani Ports & SEZ, and Tata Motors, were the top gainers on the Nifty, while Power Grid Corp., Britannia, ONGC, BPCL, and Maruti Suzuki India, were the top losers.
26 Mar 2024, 09:23 AM ISTSensex Today Live : Gainers and Losers on Sensex
Sensex Today Live : HCLTech, Bajaj Finance, Mahindra & Mahindra, Bajaj Finserv, and Tata Motors, were the top gainers on the Sensex, while Power Grid Corp., Titan, Maruti Suzuki India, NTPC, and Bharti Airtel, were the top losers.
26 Mar 2024, 09:20 AM ISTSensex Today Live : Opening Bell
Sensex Today Live : Indian benchmark indices opened in the red on Tuesday, led by weak signals from global peers that were trading mixed.
At opening bell, Sensex was down 137.85 points, or 0.19%, at 72,694.09, and Nifty was down 148.85 points, or 0.67%, at 21,947.90.
26 Mar 2024, 09:11 AM ISTSensex Today Live : Benchmark indices fall at pre-open
Sensex Today Live : Indian benchmark indices fell during pre-open on Tuesday, led by weak signals from global markets.
Sensex was down 434.97 points, or 0.60%, at 72,396.97, and Nifty was down 148.85 points, or 0.67%, at 21,947.90 during pre-open.
26 Mar 2024, 09:04 AM ISTSensex Today Live : Tejas Networks announces strategic partnership with Telecom Egypt
Sensex Today Live : Tejas Networks today announced that it has signed a Memorandum of Understanding with Telecom Egypt (TE), ITIDA (Information Technology Industry Development Agency) and NTI (National Telecom Institute) to replicate its experience of implementing Bharatnet (Rural Broadband Project) and NKN (National Knowledge Network) projects in Egypt.
Other broad areas of cooperation include capacity building of Egyptian engineers and technicians on state-of-the-art telecom and networking technologies, establishing local manufacturing and R&D facilities for Fiber-to-the-Home (FTTH) products, and setting up technical support services in Egypt both for customers within the country as well as for the larger Africa and Middle East region.
26 Mar 2024, 08:50 AM ISTSensex Today Live : Stocks to Watch
26 Mar 2024, 08:43 AM ISTSensex Today Live : What to expect from Indian stock market in trade on March 26
Sensex Today Live : The Indian stock market, represented by the Sensex and Nifty 50 indices, is predicted to commence Tuesday's trading session on a lower note, influenced by mixed signals from global markets. The Gift Nifty trends also suggest a negative opening for the Indian benchmark index, trading around the 22,120 level, nearly 40 points below the previous close of Nifty futures.
This week, which is shortened due to holidays, is expected to see reduced trading volumes with limited market cues. However, as we near the March F&O expiry and the end of the financial year, market volatility may remain high. On the previous Friday, the domestic equity benchmarks concluded on a positive note for the third successive session. The Sensex rose by 190.75 points to close at 72,831.94, while the Nifty 50 ended 84.80 points or 0.39% higher at 22,096.75.
The Nifty 50 formed a reasonably positive candle on the daily chart with a minor upper shadow. Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, noted, “The market is encountering strong resistance around the 22,200 - 22,300 levels. A decisive breakthrough above this barrier could trigger the next significant upward movement in the market. The Nifty has formed a small positive candle with a long lower shadow on the weekly chart. The weekly support of the 10-week EMA (Exponential Moving Average) has been reclaimed after the intra-week downside breach at 21,950. This is a positive sign." (Read the full story here.)
26 Mar 2024, 08:31 AM ISTSensex Today Live : Seven key things that changed for market over weekend - Gift Nifty, geopolitical tensions to oil prices
Sensex Today Live : The Indian stock market is anticipated to begin Tuesday's trading session on a muted note, influenced by mixed signals from international markets. Asian markets are showing varied performance, and the US market is pausing after a rally triggered by positive sentiment over the US Federal Reserve's interest rate reductions.
The Indian stock market remained closed on Monday due to the Holi festival and will also be closed on Friday, March 29, in observance of Good Friday.
On the previous Friday, the domestic equity benchmark indices concluded with slight gains, marking the third straight session of positive momentum. The Sensex rose by 190.75 points or 0.26%, closing at 72,831.94, while the Nifty 50 ended 84.80 points or 0.39% higher at 22,096.75.
As we enter the final week of March, investors will be monitoring several market triggers, including domestic macroeconomic data, government fiscal closing announcements, foreign capital inflows, and other global market indicators.
Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services Ltd, commented, "Given that this week is shortened and coincides with the derivatives' monthly expiry, we may witness some market volatility. The Nifty is expected to consolidate at higher levels. Additionally, US GDP data and other crucial economic indicators will keep investors engaged." (Read the full story here.)
26 Mar 2024, 08:21 AM ISTSensex Today Live : Mixed global markets, Gift Nifty signal muted but positive open
Sensex Today Live : With mixed signals flowing from global markets, the Indian markets looked all set to open on a positive but muted note.
At 8:07 am, Gift Nifty was at 22,124, around 30 points ahead of Nifty 50's Friday close of 22,096.75.
Asian equities climbed on Tuesday but could not break this month's highs as mixed messages from U.S. Federal Reserve policymakers left doubts hanging over the timing of interest rate cuts.
The risk of Japan intervening to prevent further falls in the yen put a little pressure on the dollar, however it rose against the yuan on speculation that China may tolerate a weaker currency.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6%, with gains for South Korean chipmakers SK Hynix and Samsung Electronics leading the Kospi up 1.2%.
Japan's rocketing Nikkei was steady, as was the yen at 151.31 per dollar.
Interest rate futures price about three Fed rate cuts this year and about a three-in-four chance of the first cut in June.
U.S. two-year yields, which track short-term interest rate expectations, rose in New York trade overnight then fell 4.5 basis points in the Asia morning to 4.58%.
S&P 500 futures rose 0.1% and the cash index closed 0.3% lower overnight.
Gold and oil prices were broadly steady in commodities trade, with spot gold at $2,169 an ounce and Brent crude futures up 24 cents a barrel to $86.99.
Bitcoin hovered just above $70,000 after rising sharply on Monday.