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Business News/ Markets / Live Blog/  Market Highlights: Sensex gains 330 pts, Nifty ends 100 pts higher; Ultratech, RIL shine; TaMo, Maruti drag

Market Highlights: Sensex gains 330 pts, Nifty ends 100 pts higher; Ultratech, RIL shine; TaMo, Maruti drag

Share Market Updates: The Indian stock market gains as Sensex ends above 64,000 and Nifty around 19,150. RIL, Ultratech, and BPCL jump, while Auto stocks come under pressure with TaMo, Maruti and M&M dragging. Most sectors are trading in the green with Energy and Realty gaining the most.

Sensex Today | Share Market Updates: Indian markets to remain under caution amidst negative global cuesPremium
Sensex Today | Share Market Updates: Indian markets to remain under caution amidst negative global cues

Share Market Updates: RIL, Cipla and Ultratech Cement lift indices into the green on Monday as Sensex and Nifty gain around 0.6% with Energy and Realty leading the rally, while Auto remains subdued.

Caution over the Middle East conflict prevails after Israel said it hit over 450 Hamas targets on Sunday and self-declared "second phase" of the attack on the Hamas militants.

Asian shares were mostly lower on Monday ahead of a Federal Reserve decision this week on interest rates.

Oil prices fell Monday as traders hoped a region-wide conflict could still be avoided as Israel said its forces killed dozens of Hamas militants in clashes in Gaza.

30 Oct 2023, 03:37:06 PM IST

Indices shurgged off initial jitters to end in green as Sensex jumped 300 pts and Nifty 100 pts; RIL, BPCL and Ultratech shine

India's blue-chip indexes fell in early trading on Monday but bounched back to end with gains of around 0.6%, thanks to a few heavyweights like Reliance Industries jumping. Investors still remained cautious as Middle East conflict and elevated U.S. Treasury yields weighed on sentiment.

The NSE Nifty 50 index ended 100 pts higher at 19,148, while the S&P BSE Sensex jumped 330 pts to end at 64,112. Four of the 15 broad-based sectoral indices ended with losses in today's session.

BPCL jumped more than 3%, while Reliance Industries, Ultratech and ONGC gained more than 2% each. Tata Motors, Maruti and Eicher Motors led the drag in the Auto index. UPL shed almost 5% after delivering a loss this quarter.

Auto, FMCG and Consuemr Durable indices ended in the red. Bank and Finance gained marginally. Energy and Realty sectors gained more than a per cent each.

Asian share markets were mixed on Monday as Israel's push into Gaza stirred fears of a wider conflict ahead of central bank meetings in the United States, Britain and Japan, the latter of which might see a policy tightening.

Japan's Nikkei share average fell tracking Wall Street's declines in the previous session and as caution ahead of central bank meetings domestically and in the United States hurt risk appetite. The Nikkei closed 0.95% lower, while the broader Topix slipped 1.04%.

Chinese stocks rose, helped by fresh signs of government-orchestrated support measures, while Hong Kong shares were muted amid persistent fears of an escalation in the Middle East war.

China's blue-chip CSI 300 Index closed 0.6% higher. The Shanghai Composite Index edged up 0.1%, standing above the psychologically key 3,000-point mark. Hong Kong's Hang Seng Index ended flat, tracking broadly mixed Asian markets.

European shares recovered in early trading boosted by healthcare stocks, as bond yields declined with investors assessing key inflation data.

The UK's FTSE 100 inched higher supported by gains in mining stocks, while information and analytics firm Ascential led midcap stocks higher after announcing a $1.70 billion deal for selling its units.

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30 Oct 2023, 03:25:57 PM IST

Sensex Today Live | Share Market Updates: Transport Corporation of India Q2 net profit rises 20 pc to ₹87 crore

Transport Corporation of India (TCI) on Monday reported a 20.3 per cent rise in consolidated net profit to 87 crore for the quarter ended September 30, 2023.

The company had posted a consolidated net profit of 72.3 crore in the year-ago period, TCI said in a regulatory filing.

The consolidated total income of the company in the July-September period increased to 1,004.8 crore over 939.5 crore a year ago, the filing said. (PTI)

30 Oct 2023, 03:23:32 PM IST

Sensex Today: Metal stock close to record high after two-fold net profit growth in Q2FY24

Hi-Tech Pipes' shares have displayed an upward trend since the early morning session. The metal stock opened higher today and reached an intraday high of 104 per share on NSE, just one percent shy of its current record high of 105.20 per share. Indian stock market investors demonstrated increased interest in the metal stock following the disclosure of the company's Q2 FY24 results over the weekend. The steel processing company announced its Q2 FY24 results along with the H1 FY24 numbers last Saturday. (Read More)

30 Oct 2023, 03:13:55 PM IST

Sensex Today Live: Petronet LNG Q2 Results: Net profit rises 4.4% QoQ to ₹855.7 crore; approves dividend, petchem project; stock falls 7%

Petronet LNG, a state-run oil and gas company, disclosed a consolidated net profit of 855.74 crore for the second quarter of FY24, marking a 4.4% increase from 819 crore in the preceding quarter.

Furthermore, the company's consolidated revenue from operations during Q2FY24 escalated by 7.5%, amounting to 12,532.57 crore compared to 11,656.38 crore in the April-June quarter. (Read More)

30 Oct 2023, 03:01:33 PM IST

Sensex Today Live: UPL Q2 Results: Firm reports net loss of ₹189 crore

UPL Q2 Results: UPL Ltd on Monday reported a consolidated net loss of 189 crore in the quarter ended September 2023, as against a consolidated net profit of 814 crore in the same quarter last year. (Read More)

30 Oct 2023, 02:49:08 PM IST

Sensex Today Live | Share Market Updates: Adani Green Energy Q2 Results: Net profit surges 149% on year to ₹371 crore

Adani Green Energy Ltd on Monday reported a 149% year-on-year (YoY) rise in its consolidated net profit at 371 crore for the quarter ended September 2023. The company had posted a net profit of 149 crore in the same quarter last year. (Read More)

30 Oct 2023, 02:47:50 PM IST

Sensex Today: HSBC warns of risks in China's property sector, allocates funds to cover possible losses

HSBC Holdings Plc has issued a warning about the potential for further trouble in China's property market, as per a Bloomberg report. The bank has allocated additional funds to cover possible losses linked to its investments in China's commercial real estate sector.

In their recent third-quarter earnings report, HSBC revealed an expectation of $1.1 billion in credit loss charges. Approximately $500 million of these charges are associated with the commercial real estate sector in mainland China. (Read More)

30 Oct 2023, 02:23:29 PM IST

Sensex Today Live: Crude slips as worries of region-wide Middle East war ease

Oil prices fell Monday as Israel stepped up ground attacks on Hamas targets in Gaza but held back from a full-on incursion, fanning hopes a wider conflict can be avoided.

Equities were mixed ahead of a Federal Reserve policy meeting this week, with traders fearing it will likely keep interest rates elevated for an extended period as inflation remains stubbornly high.

Crude pared Friday's almost three percent gains as Israel's military continued air and ground operations in Gaza, though it took a more cautious approach than feared.

Instead of a broad offensive, officials have opted for targeted attacks on a day-to-day basis, tempering worries of an all-out war that could drag in Iran and even the United States. (AFP)

30 Oct 2023, 02:13:24 PM IST

Sensex Today: Blackstone acquires Care Hospitals, Kims Health in $1 billion twin deal

Blackstone Group Inc. has acquired controlling interests in Care Hospitals and Kims Health in a multi-layered deal valued at $1 billion, marking the private equity giant's maiden foray into India's healthcare sector.

The New York-based firm secured roughly a 75% stake in Care Hospitals from Evercare Health Fund, an arm of TPG, for around $700 million, said a persom familiar with the transaction, requesting anonymity. TPG Rise retains the remaining stake. (Read More)

30 Oct 2023, 02:08:48 PM IST

Sensex Today Live | Share Market Updates: Blue Jet Healthcare IPO allotment: Check latest GMP, here's how to check allotment status

The allotment date for the Blue Jet Healthcare IPO has been set for Wednesday, November 1. Investors who applied for the IPO can check their allotment status through the registrar's portal, Link Intime India Private Ltd.

Through the basis of allotment, investors can determine whether they have been allocated shares and, if so, the quantity of shares assigned. For those who were not allotted any shares, the company will initiate the refund process. Allotted shares will be credited to the investors' demat accounts. (Read More)

30 Oct 2023, 02:04:59 PM IST

Sensex Today Live: BigBasket gets highest score, Ola and Porter score zero in fair working conditions for gig workers

Ola, Porter, Uber, Dunzo, Amazon Flex, and Flipkart are the worst performers across parameters related to fair work and conditions among gig workers in India, a report claimed on Monday.

Of the 12 digital platforms evaluated by the Fairwork India Team, spearheaded by the Centre for IT and Public Policy (CITAPP), International Institute of Information Technology Bangalore (IIIT-B), only BigBasket scored the highest point 6 out of 10 across five principles (fair pay, fair conditions, fair contract, fair management and fair representation) for gig workers. (Read More)

30 Oct 2023, 01:52:02 PM IST

Sensex Today: Multibagger stock: Choice Broking sees 35% upside in defence share that has worked as vendor for ISRO

Apollo Micro Systems Ltd is one of the standout multibagger stocks emerging from Dalal Street in 2023. Initially providing design services to the Indian Space and Research Organisation (ISRO), this defense company has generated approximately 150% returns for its positional investors. Despite this notable performance, Choice Broking foresees significant further potential for growth in this defense stock. According to a recent report by Choice Broking, the current share price of Apollo Micro Systems is approximately 75 per share, with a long-term projection reaching around 103 per share, resulting in a potential return of over 35% for its investors. (Read More)

30 Oct 2023, 01:45:20 PM IST

Sensex Today Live: Most apparel makers expect up to 25% less demand this festive season: CMAI

A majority of apparel retailers and manufacturers expect demand for clothing to shrink by up to 25% this festive season from last year, the Clothing Manufacturing Association of India (CMAI), an industry body, said on Monday.

CMAI surveyed 166 apparel manufactures and brands to gauge consumer demand. “While around 22% of respondents expect the market to pick up over the upcoming festive season, around 78% expect sales in this festive season to dip up to 25% as compared to last year’s sales," it said in a note on Monday. (Read More)

30 Oct 2023, 01:31:24 PM IST

Sensex Today: Cipla stock jumps in today's trading and is among the highest gainers

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30 Oct 2023, 01:15:42 PM IST

Sensex Today Live | Share Market Updates: Oil declines 1% ahead of U.S., China data

Oil prices slipped more than 1% on Monday as investors adopted caution ahead of a U.S. Federal Reserve policy meeting and China's manufacturing data due this week, offsetting support from tension in the Middle East.

Brent crude futures dropped 1%, or 97 cents, to $89.51 a barrel by 0718 GMT, while U.S. West Texas Intermediate crude was down 1.3%, or $1.13, at $84.41 a barrel.

"Despite an escalation in the Hamas-Israel war, the ground invasion was widely expected," said CMC Markets analyst Tina Teng.

30 Oct 2023, 01:12:49 PM IST

Sensex Today: IIFL Finance share price may see 25% upside, says Jefferies; initiates coverage with ‘Buy’ rating

According to analysts, IIFL Finance, a diversified non-banking financial company (NBFC), is anticipated to witness robust net interest income (NII) growth, a stabilized asset quality, and substantial earnings expansion.

The company has bolstered its retail franchise by doubling its branches over the course of three years, leading to a projected 23% compound annual growth rate (CAGR) in asset under management (AUM) and a 26% CAGR in NII from FY23 to FY26, as highlighted by foreign brokerage Jefferies. (Read More)

30 Oct 2023, 12:57:07 PM IST

Sensex Today Live: Finolex Cables Case: SC calls out 2 NCLAT members for flouting order, Deepak Chhabria slapped with ₹1 crore fine

NCLAT Judicial Member Rakesh Kumar has tendered his resignation following a summons from the Supreme Court for defying the court's order in the Finolex case. In addition, Technical Member Alok Srivastava has submitted an unconditional apology for his defiance.

The Supreme Court arrived at this decision after reviewing the CCTV footage of the incident at the NCLAT, which revealed that both members were informed by the lawyers about the court order but proceeded to pass the order nonetheless. (Read More)

30 Oct 2023, 12:50:51 PM IST

Sensex Today: Swan Energy share price jumps over 6%, hits 52-week high on Reliance Naval acquisition

Swan Energy's share price surged over 6%, reaching a 52-week high during Monday's trading session, marking the fourth consecutive session of gains. This rally follows the completion of the outstanding upfront payment of 231.42 crore for the acquisition of Reliance Naval and Engineering. The day's trading began with Swan Energy's share price at 380 apiece on BSE. Over the last four trading sessions, Swan Energy shares have accumulated gains of more than 26%. (Read More)

30 Oct 2023, 12:49:04 PM IST

Sensex Today Live: Kama Jewelry on Outlook on gold demand for the festive season

Colin Shah, MD, Kama Jewelry on Outlook on gold demand for the festive season: Globally, gold prices are on the rise due to the uncertainty in the international market created by the Israel-Hamas conflict and its impact on global economic conditions, followed by the strengthening of the US Dollar. This price rise will further drive investors towards gold, owing to its credibility as one of the safest asset classes. With the Fed likely to maintain its stance in the upcoming meeting with the scope for one rate hike during the year, it is expected to keep the gold price within the range of USD 2000.

On the domestic front, gold rates are gradually but steadily on an upward trajectory. With the festive season and wedding season, we see the price dynamics to be of little to no hindrance for the Indian gold buyers owing to the rise in per-capita income and the sentimental value attached towards buying gold during the festive season and weddings, a tradition well-kept in the Indian culture.."

30 Oct 2023, 12:39:34 PM IST

Sensex Today Live | Share Market Updates: Ratan Tata denies claims about announcing reward for Cricketers

Industrialist Ratan Tata has denied that he had made any announcement or offered any reward or gave any suggestions to the International Cricket Council or to any player.

"I have made no suggestions to the ICC or any cricket faculty about any cricket member regarding a fine or reward to any players. I have no connection to cricket whatsoever. Please do not believe WhatsApp forwards and videos of such nature unless they come from my official platforms," Ratan Tata posted on X.

There were WhatsApp forwards and videos floating on social media that had fraudulently claimed that Ratan Tata had announced a 10 crore reward for Afghanistan cricketer Rashid Khan after their win over Pakistan but the renowned industrialist has denied any such claims. (ANI)

30 Oct 2023, 12:27:56 PM IST

Sensex Today Live: AU Small Finance Bank board approves merger with Fincare SFB; stock falls 8%

AU Small Finance Bank encountered an intra-day decline of over 8 percent on Monday, following the announcement of its board's approval of a merger with Fincare Small Finance Bank. The proposed all-stock transaction, valued at 4,411 crore, intends to broaden the bank's presence in southern India and facilitate its entry into the microfinance sector. (Read More)

30 Oct 2023, 12:19:33 PM IST

Sensex Today Live | Share Market Updates: Suzlon shares continue bulltrend despite 350% rally in FY24

Suzlon Energy Limited's shares have been on an upward trajectory since the beginning of the new financial year 2023-24. Starting at 7.05 per share on NSE at the end of March 2023, the stock has been steadily climbing. Today, Suzlon's share price exhibited an upward gap at the opening and reached an intraday high of 32.80 per share, marking a remarkable increase of over 350% in the current financial year. Market analysts remain optimistic, suggesting that the energy stock still has further potential for growth. (Read More)

30 Oct 2023, 12:16:35 PM IST

Sensex Today Live: Tax authorities probing Raymond's consumer care business sale to Godrej: GST in focus

The Directorate General of GST Intelligence (DGGI) is investigating the sale of Raymond's consumer goods business to a Godrej unit, The Economic Times reported quoting sources.

In April 2023, Godrej Consumer Products (GCPL) acquired Raymond's FMCG business, including the Park Avenue, KS, KamaSutra, and Premium trademarks, through a slump sale. (Read More)

30 Oct 2023, 12:02:30 PM IST

Sensex Noon Update: RIL and Energy stocks lift Sensex and Nifty by 250 and 50 pts, respectively; Auto and Bank indices drag  

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30 Oct 2023, 11:55:51 AM IST

Sensex Today Live | Share Market Updates: Tokyo shares fall agead of central bank meetings in US, Japan

Tokyo stocks dropped Monday as investors sat on their hands ahead of central bank meetings in Japan and the United States, and as the Middle East crisis weighed on the market.

The benchmark Nikkei 225 index fell 0.95 percent, or 294.73 points, to 30,696.96, while the broader Topix index lost 1.04 percent, or 23.41 points, at 2,231.24. (AFP)

30 Oct 2023, 11:48:56 AM IST

Sensex Today: IMF projects global growth to slow to 2.9% in 2024 amid economic slowdown

The International Monetary Fund (IMF) has released its latest economic projections, stating that global growth is expected to remain at 3 percent in 2023 and further decline to 2.9 percent in 2024, as per an ANI report. This marks one of the lowest growth rates in decades. (Read More)

30 Oct 2023, 11:34:31 AM IST

Sensex Today Live: SAT rules in favour of Punit Goenka

In a major relief to Punit Goenka of Zee Entertainment Enterprises, the Securities Appellate Tribunal in its verdict on Monday set aside Sebi’s 14 August order that barred Goenka from holding key directorship in a listed entity, in connection to an alleged fund diversion case. This paves the way for Goenka to remain at the helm of one of the largest merged entities in the media and entertainment sector.

The court has, however, allowed the regulator to continue its ongoing investigation.

30 Oct 2023, 11:25:20 AM IST

Sensex Today Live | Share Market Updates: JM Financial views on NTPC | Strong growth momentum continues; maintain BUY

Sudhanshu Bansal of JM Financial views on NTPC: Strong growth momentum continues; maintain BUY INR 270 

NTPC Ltd (NTPC) reported net sales of INR 450bn (+2% YoY, +4% QoQ), in-line with JMFe led by 6% higher generation YoY to 90BU. EBITDA for the quarter improved to INR 126.8bn (+16% YoY,-1% QoQ), +9% JMFe primarily driven by a lower share of imported coal (2%/10% in 2QFY24/ 2QFY23) in the fuel mix. Adj. PAT came in at INR 47bn (+37% YoY, +11% above JMFe). With visibility of 20GW RE generation capacity by FY26 and entry into pumped hydro storage with 14GW of the portfolio, the journey of NTPC continues with the transition to a balanced portfolio (45% renewables, 47% Thermal, 8% others) by FY32. Given the continued growth momentum, we revise our estimates upwards for FY25 and roll forward to FY26. We value the company’s thermal business at 1.8x Sep’25E Regulated Equity and assign 10x multiple to Sep’25E EBITDA of its RE business. We maintain our BUY rating with a revised TP of INR 270 (INR 240 earlier).

30 Oct 2023, 11:22:46 AM IST

Sensex Today Live: Mahindra & Mahindra Financial Services shares slump 14.40% on weak Q2FY24 performance

Shares of Mahindra & Mahindra Financial Services (MMFS), a part of the Mahindra Group, experienced a significant decline of 14.40% to reach 237.35 apiece in early trading on Monday, a level not witnessed since April 2023. Investors responded unfavorably to the company's Q2FY24 performance, which was released after market hours on Friday. At 10:45 AM, the stock was trading with a decrease of 9.45% at 251.30.

The company's standalone net profit in Q2FY24 plummeted by 48% to 235 crore, primarily influenced by provision reversals. In contrast, during the same period in the previous year, the company had reported a profit after tax (PAT) of 448 crore, while in the preceding June quarter (Q1FY24), the PAT was at 362 crore.

30 Oct 2023, 11:05:40 AM IST

Sensex Today: Gentari, GIC and Greenko founders join hands to produce, export green ammonia

Gentari, the clean-energy arm of Malaysia’s Petronas, and AM Green, set up by the founders of Greenko, on Monday announced the signing of definitive agreements with an affiliate of GIC to produce five million tons per annum (MTPA) of green ammonia by 2030.

A joint statement from Gentari and AM Green said the partnership will focus on the production of green ammonia in multiple locations across India, which is expected to accelerate efforts to achieve net-zero targets in India and OECD markets. Exports of green ammonia from this platform to key OECD markets such as Germany, Japan, South Korea, and Singapore are expected to begin in late 2025, it said. (Read More)

30 Oct 2023, 11:04:54 AM IST

Sensex Today Live | Share Market Updates: NTPC shares fall over 2% despite brokerages raising target

NTPC's share price underwent a decline of over 2% on Monday subsequent to the company's Q2 results. NTPC shares witnessed a drop of 2.45%, reaching 230.75 per share on the BSE.

The state-owned power generator, NTPC, disclosed a 16.6% increase in its consolidated net profit for Q2FY24, totaling 3,885 crore compared to 3,331 crore in the corresponding period last year. However, the company's revenue from operations experienced a marginal decrease to 40,875 crore from 41,015 crore in the year-ago period.

Furthermore, the NTPC board sanctioned the first interim dividend of 2.25 per share for FY 2023-24 on the face value of paid-up equity shares of 10 each, with the date of payment/dispatch of the dividend scheduled for November 23, 2023. (Read More)

30 Oct 2023, 10:42:47 AM IST

PL Stock Report: Dr. Reddy's Laboratories (DRRD IN) - Q2FY24 Result Update – In line EBITDA aided by gRevlimid and PLI incentives - REDUCE

Sensex Today: Param Desai - Research Analyst, Prabhudas Lilladher Pvt Ltd. views on Dr. Reddy's Laboratories (DRRD IN): Rating: REDUCE | CMP: Rs5,397 | TP: Rs5,300

Q2FY24 Result Update – In line EBITDA aided by gRevlimid and PLI incentives

Quick Pointers:

§ Margins came in at 26.6%; down 270 bps QoQ adjusted for PLI incentives.

§ India formulation grew in high single digit, adj for divestment and NLEM.

We increase our FY24/25E EPS estimates by 13.5%/7.6% aided by higher gRevlimid sales, however base business profitability continues to remain moderate. Dr. Reddy’s (DRRD) Q2FY24 EBITDA was largely in-line with our estimate, while base business margins ex of Revlimid and PLI incentives continued to remain muted below ~19-20%. Further thin US pipeline in near term remains a key risk. At CMP, DRRD is trading at expensive valuations of 24x P/E on FY25E adjusted for gRevlimid. We maintain our ‘Reduce’ rating with revised TP of Rs5,300/share (Rs5,150 earlier) as we roll forward; valuing at 23x Sept 2025E EPS for base business. Any big ticket ANDA approvals and sharp recovery in base business margins are key risks to our call.

30 Oct 2023, 10:39:49 AM IST

Sensex Today Live: RIL stock surges almost 2% after a strong quarterly earning report

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30 Oct 2023, 10:31:19 AM IST

Sensex Today: HSBC Q3 pre-tax profit more than doubles but misses estimates

HSBC Holdings reported a 240 percent increase in third-quarter pre-tax profit on Monday as higher interest rates boosted profitability, although it missed market estimates.

Europe's largest bank with a market value of $118.6 billion posted a pre-tax profit of $7.7 billion for the July to September quarter, versus $3.2 billion a year earlier, trailing the $8.1 billion mean average estimate of brokers compiled by HSBC. (Read More)

30 Oct 2023, 10:19:54 AM IST

Sensex Today Live: PSU Bank trades in the red as it sheds almost a per cent with all stocks coming under pressure on Monday

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30 Oct 2023, 10:12:16 AM IST

Sensex Today Live | Share Market Updates: Maruti Suzuki shares flat after robust Q2 results

Maruti Suzuki's share price displayed a neutral opening during Monday's trading session, reflecting the company's strong Q2 performance. Maruti Suzuki India disclosed a standalone net profit of 3,716.5 crore for the quarter ending September 2023, denoting an impressive 80.28% surge in comparison to 2,061.5 crore during the same quarter the previous year.

The opening price of Maruti Suzuki shares today stood at an intraday high of 10,741.30 on the BSE, with the stock touching an intraday low of 10,491.80. Technical analysts suggest a positive overall trend for the stock, with the 50-day exponential moving average (DEMA) serving as a support during declines, currently positioned around 10,300. (Read More)

30 Oct 2023, 10:02:40 AM IST

Sensex Today: China Evergrande's court hearing deferred to Dec 4; judge gives last chance for resolution plan

Hong Kong High Court judge Linda Chan has deferred today's hearing of China Evergrande Group to December 4, Reuters reported. Justice Chan warned this is the “final" such opportunity for the troubled real estate company.

Evergande was scheduled for a hearing today on October 30 in regards to a possible winding-up of business. The adjournment now allows the developer to present its restructuring plan to avoid potential liquidation, it added. (Read More)

30 Oct 2023, 09:53:42 AM IST

Sensex Today Live: SBI Card share price drops over 7% as brokerages cut target price after Q2 results

SBI Cards and Payments Services witnessed a sharp decline of over 7% in its share price during early trading on Monday, following the release of its financial results for the second quarter of FY24. SBI Cards shares dropped by 7.45% to 732.05 each on the BSE.

The company reported a 15% rise in net profit for Q2FY24, amounting to 603 crore compared to 526 crore in the corresponding quarter last year. Additionally, its revenues experienced a 22% surge, reaching 4,221 crore from 3,453 crore, year-on-year.

According to brokerage firm Motilal Oswal Financial Services, SBI Cards and Payments Services reported a muted quarter characterized by elevated provisions and further compression in margins. (Read More)

30 Oct 2023, 09:45:41 AM IST

Sensex Today: Geojit Financial Services views on today's market: Watch out for the Fed’s message on November 1st even while it holds the rate as the market expects

Dr V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services: The oversold position in the market facilitated the 190-point bounce back in the Nifty on Friday. But the conditions are not favourable for the continuation of this uptrend since the risk-off mood persists in the market. The risk of the Middle East geopolitical crisis spreading is high and since the ground war has begun in Gaza there can be lots of uncertainty and unexpected developments. The other major factor impacting the markets -the elevated US bond yields- also will remain a short-term concern since the Fed is likely to continue its hawkish stance in the light of the resilience of the US economy and inflation (3.7%) remaining above the Fed’s target. So watch out for the Fed’s message on November 1st even while it holds the rate as the market expects. Investors may remain cautious in this time of high uncertainty and risk. Nibbling at high-quality large caps will be a smart move.

30 Oct 2023, 09:44:01 AM IST

Sensex Today Live: ESAF Small Finance Bank IPO worth ₹463 crore to open on November 3

ESAF Small Finance Bank, a Kerala-based lender, is scheduled to kick off its initial public offering (IPO) on November 3, with the IPO slated to conclude on November 7. The company aims to raise 463 crore through this offering, although the IPO price band has yet to be disclosed. The public issue is a combination of both a fresh issuance of equity shares, valued at 390.7 crore, and an offer-for-sale (OFS) of equity shares, amounting to 72.3 crore, by three shareholders. (Read More)

30 Oct 2023, 09:32:52 AM IST

Sensex Today Live | Share Market Updates: Tata Motors comes under pressure in early trading as it sheds more than 1.5%

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Tata motors
30 Oct 2023, 09:28:31 AM IST

Sensex Today: Dividend stocks: Happiest Minds, Ramkrishna Forgings to trade ex-dividend today

Shares of Happiest Minds Technologies Ltd and Ramkrishna Forgings are likely to draw attention today as both stocks are trading ex-dividend. The board of directors of Happiest Minds Technologies Ltd has announced an interim dividend of 2.50 per share for FY24. Similarly, Ramkrishna Forgings Ltd's board has declared an interim dividend of Re 1 per share for FY 2023-24.

Both companies have set October 30, 2023, as the record date to determine the eligible shareholders for the payment of the interim dividend for the financial year 2023-24. Happiest Minds Technologies and Ramkrishna Forgings have already notified Indian exchanges about the interim dividend and the dividend record date. (Read More)

30 Oct 2023, 09:24:59 AM IST

Sensex Today Live: Sensex and Nifty remain around the previous close at the start as RIL and Tech Mahindra jump, while Bajaj Finserv sheds

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Sensex at Open
30 Oct 2023, 09:11:13 AM IST

Sensex Today Live | Share Market Updates: Cello World IPO opens today: GMP, review, other details

Today marks the commencement of the initial public offering (IPO) of Cello World, which will continue to accept bids from investors until November 1, 2023. The book build issue is priced in the range of 617 to 648 per equity share. The IPO, entirely an offer for sale (OFS), is intended for listing on both the NSE and BSE. The promoters aspire to raise 1,900 crore through this public offering. Meanwhile, Cello World shares have initiated trading in the unlisted stock market, with market observers noting a premium of 90 in the grey market today. (Read More)

30 Oct 2023, 09:09:08 AM IST

Sensex Today Live: Sensex starts in the green at the preopen session; RIL, Maruti Suzuki, and AU SFB to be in focus in today's session

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30 Oct 2023, 08:56:24 AM IST

Sensex Today: Govt wants India's telecom service to remain most affordable in entire world: Telecom Minister

The government wants India's telecom service to remain the most affordable in the entire world, union telecom minister Ashwini Vaishnaw said.

According to the telecom sector industry body Cellular Operators Association of India, telecom operators have not been able to monetise 5G service since its launch last year.

"From the government side we are very clear. We would like telecom service to continue to remain the most affordable in the entire world and today among all large economies India's telecom sector is the most affordable telecom sector," Vaishnaw told PTI in an interview at India Mobile Congress 2023.

According to analysts, telecom operators need an average revenue per user (ARPU) in the range of 270-300 over next three years to realise the investments they are making in building 5G networks. (PTI)

30 Oct 2023, 08:48:52 AM IST

Sensex Today Live: Q2 Results today: Marico, TVS Motor, UPL, others to announce earnings

Today, a handful of major companies will be releasing their Q2 results, including Marico Ltd, TVS Motor Company, UPL Ltd, Blue Star Ltd, and Strides Pharma Science Ltd. Approximately 95 companies will release their September quarter results today. (Read More)

30 Oct 2023, 08:34:12 AM IST

Sensex Today Live | Share Market Updates: Adani group stocks: FPIs cut stake in 8 out of 10 Adani companies in Q2

During the July-September quarter, Foreign Portfolio Investors (FPIs) notably reduced their holdings in the majority of Adani Group companies. According to the quarterly shareholding data of all ten Adani Group stocks on the stock exchanges, FPIs trimmed their stake in 8 companies over the past quarter.

Adani Enterprises, the leading company of the Gautam Adani-led conglomerate, experienced the most substantial sequential decrease, with FPI shareholding dropping to 18.19% at the end of September 2023 from 23.01% at the end of June 2023. (Read More)

30 Oct 2023, 08:23:07 AM IST

Sensex Today: Stocks to Watch: RIL, Maruti Suzuki, Ultratech, AU SFB, Cipla, IDFC First Bank, IDFC, Bharti Airtel, Adani Enterprises, and Union Bank of India

  • Reliance Industries: Reported a 27% surge in consolidated net profit to 17,394 crore in Q2 FY 2023-24, with shares rising by 1.75%.
  • Maruti Suzuki: Delivered over 310,000 units, a 19% increase, amid improved chip availability and festive demand.
  • UltraTech Cement: Approved a 13,000 crore investment for a capacity expansion of 21.9 MTPA through multiple projects.
  • AU Small Finance Bank: Announced a merger with Fincare Small Finance Bank, pending regulatory approvals.
  • Cipla: Recorded a 43.4% rise in consolidated net profit to 1,130.91 crore and a 14.6% increase in revenue.
  • IDFC First Bank: Noted a 35% rise in net profit to 751.3 crore and a 31.6% growth in net interest income (NII) to 3,950.2 crore.
  • NTPC: Posted a 16.6% increase in consolidated net profit to 3,885 crore and reported consolidated revenue from operations of 40,875 crore.
  • Bharti Airtel: Collaborated with Microsoft to provide Indian businesses calling services via Airtel IQ integrated with Microsoft Teams.
  • Adani Enterprises: Introduced 'general aviation charges' for private jet operators at six airports despite warnings from the airport tariff regulator.
  • Union Bank of India: Noted a 90% surge in net standalone profit to 3,511 crore in Q2 FY 2023-24, with net NPA decreasing to 1.30%. (Read More)

30 Oct 2023, 08:19:31 AM IST

Sensex Today Live: Tata Technologies IPO: Why you should expect upcoming IPO's launch next month

After an interval of nearly two decades, the Tata group is gearing up to introduce its initial public offering (IPO) in the primary market. Tata Technologies Ltd, one of the Tata group's subsidiaries, has submitted an addendum for its public issue subsequent to receiving approval from SEBI for the launch of its initial offer. The market is eagerly anticipating the release of the upcoming IPO.

As per market analysts, the wait for the impending IPO is expected to conclude in November 2023, which is next month. They have indicated that Tata Motors, a listed entity and one of the promoters offloading its stake in Tata Technologies Ltd, is likely to announce its Q2FY24 results. Consequently, the launch of the Tata Technologies IPO could possibly occur within a fortnight of the Tata Motors earnings announcement. (Read More)

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