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Business News/ Markets / Stock Markets/  Market Highlights: Sensex ends marginally higher; RIL, Airtel fall; Hindalco, Jio Fin gain; RIL, Airtel dip

Market Highlights: Sensex ends marginally higher; RIL, Airtel fall; Hindalco, Jio Fin gain; RIL, Airtel dip

Market Close: Benchmark indices ended flat on Tuesday amid lacklustre trade. While Sensex ended at around 65,076, Nifty closed at 19,343. Jio Fin, Hindalco, UPL jumped while Reliance, Axis Bank, Airtel lagged

Markets trade flat on Tuesday. (Mint) (MINT_PRINT)Premium
Markets trade flat on Tuesday. (Mint) (MINT_PRINT)

Stock Market Closing: Indian share markets ended a tad higher on Tuesday while Asian and European  stocks recorded decent gains. Investors are keenly awaiting crucial economic figures like India's GDP data for the June quarter. Small-caps and mid-caps continued to outperform the benchmarks, while realty index was the best gainer among sectoral indices


29 Aug 2023, 03:33:22 PM IST

Market Close: Sensex, Nifty end marginally higher; heavyweights RIL, Airtel drag

Benchmark indices ended flat amid lacklustre trade on Tuesday. Sensex ended with a gain of 79 points, or 0.12% at 65,075.82. Nifty rose by 37 points or 0.19% to 19,342.65. Metal and realty were the chart toppers among sectoral indices. Midcap and largecap stocks were the outperformees today. Heavyweights HDFC Bank, Larsen and Toubro and Tata Steel rose but losses in shares of Reliance Industries, Bharti Airtel and ICICI Bank capped the gains of key indices.

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29 Aug 2023, 03:26:14 PM IST

Sensex Today Live | Share Market updates:Himanshu Singh, Research Analyst, Prabhudas Lilladher on Maruti Suzuki appointing new CFO

The appointment of Arnab Roy as the new CFO with his diverse and extensive experience with an impressive professional journey spanning 25 years, is a positive development for Maruti, in our view. His vast experience and expertise in managing operations of large multinational corporations will be crucial in steering Maruti Suzuki towards a path of sustained growth and success as it seeks to strengthen its position in the evolving automotive landscape.

29 Aug 2023, 03:19:53 PM IST

Sensex Today Live | Share Market updates: Cabinet decides to cut prices under Ujjwala Scheme by ₹200/cylinder, says report

29 Aug 2023, 03:09:52 PM IST

Sensex Today Live | Share Market updates: Maruti Suzuki to invest ₹45,000 crore to double production; considers stock split proposal

Chairman RC Bhargava announced that Maruti Suzuki India plans to invest around 45,000 crore over the next eight years to amplify its production capacity to 40 lakh units per year. During the carmaker's annual general meeting, he also mentioned that the company's board would contemplate shareholder recommendations for a stock split.

29 Aug 2023, 02:57:07 PM IST

Sensex Today Live | Share Market updates: Suzlon share price jumps 5%, hits 52-week high on second day in a row

29 Aug 2023, 02:49:02 PM IST

Sensex Today Live | Share Market updates: Bharat Forge jumps 2% as JV with  Kalyani Strategic Systems wins ₹287.51 crore order

Kalyani Rafael Advanced Systems Pvt Ltd has got an order worth 287.51 crore from the defence ministry for missile systems delivery.

The firm is a collaboration between Kalyani Strategic Systems Ltd (a full defence subsidiary of Bharat Forge Ltd) and Israel's Rafael Advanced Systems Ltd.

Bharat Forge said the order is slated for completion in the upcoming 12 months. 

29 Aug 2023, 02:25:33 PM IST

Sensex Today Live | Share Market updates: Goldman Sachs to sell part of wealth business to focus on ‘super-rich clients’ as it revamps strategy

29 Aug 2023, 02:11:46 PM IST

Share Market Live updates| Sensex at 2 pm: Up 110 points; JioFin, TechM top gainers while Airtel, RIL fall

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29 Aug 2023, 01:57:29 PM IST

Sensex Today Live | Share Market updates: Gensol Engineering hits upper circuit after ₹100 crore order; surged 3400% in two years

29 Aug 2023, 01:43:50 PM IST

Sensex Today Live | Share Market updates: Global rally continues ahead of US interest rate data

Stock markets around the world sustained the rally momentum on Tuesday, in anticipation of crucial US economic data that may influence the Federal Reserve's stance on interest rates.

Hong Kong's market surged over one percent, propelled by the tech sector's robust performance. Other major Asian cities, including Tokyo, Sydney, Seoul, Singapore, Taipei, and Jakarta, also reported positive market trends.

29 Aug 2023, 01:29:49 PM IST

Sensex Today Live | Share Market updates: Jio Financial Services gained over 3% intraday on reports of block deal 

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29 Aug 2023, 01:14:10 PM IST

Sensex Today Live | Share Market updates: Digikore Studios Limited files DRHP with NSE Emerge

Visual effects (VFX) studio Digikore Studios Limited (Digikore) plans to enter the primary market with an initial public offering (IPO) of 17,82,400 shares, comprising a fresh issue of 12,60,800 equities and an offer for sale (OFS) of 5,21,600 shares. Digikore has filed its draft red herring prospectus (DRHP) with NSE Emerge in preparation for the SME IPO segment.

29 Aug 2023, 01:01:21 PM IST

Sensex Today Live | Share Market updates: Tata Passenger Electric Mobility, a unit of Tata Motors, unveiled a new brand identity 

29 Aug 2023, 12:49:29 PM IST

Sensex Today Live | Share Market updates: Adani-Hindenburg Row: Supreme Court postpones hearing: Report

29 Aug 2023, 12:36:42 PM IST

Sensex Today Live | Share Market updates: Equitymaster's view on top 5 stocks to watch out for high capex-driven growth

Let’s look at the companies that spent the most in capex in FY23 and are also investing heavily for the years to come. (Read here)

29 Aug 2023, 12:27:11 PM IST

Sensex Today Live | Share Market updates: SJVN shares gain 3% as company secured Letter of Awards for three solar power projects

The company's arm SJVN Green Energy Limited (SGEL) has secured the Letter of Awards for three solar power projects, totaling 320 MW, from Assam Power Development Corporation Limited. The tentative cost of construction/development of the 320 MW projects is around 1900 crores.

29 Aug 2023, 12:05:31 PM IST

Sensex Today Live | Share Market updates: Sensex, Nifty flat in mid-market as Airtel, RIL weigh

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29 Aug 2023, 11:56:33 AM IST

Sensex Today Live | Share Market updates: Pyramid Technoplast share price hits lower circuit after positive debut

29 Aug 2023, 11:40:30 AM IST

Sensex Today Live | Share Market updates: Jinesh Joshi - Research Analyst, Prabhudas Lilladher on S Chand and Company

We increase our FY25E EPS estimates by 21% as NCF implementation would make second hand books market redundant and result-in significant volume delta. Further, given the overhaul in curriculum, we expect new SKUs to get launched providing additional volume kicker. Substantial yield advantage is also expected, as repricing at higher level becomes easier post curriculum revamp.

We introduce FY26E projections, as we expect adoption of new curriculum to gather pace in a phased manner. We expect sales/EBITDA CAGR of 17%/26% over FY23-FY26E, as policy change is likely to result in secular growth for next 2-3 years. S Chand has a net cash BS and trades at attractive valuations of 9.5x/8.2x on our FY25E/FY26E EPS. We maintain ‘BUY’ with a revised TP of Rs338 (earlier Rs260), as we roll forward to Sep-25E (target P/E multiple intact at 12x).

NCF revision benefits to accrue over next 2-3 years: Last NCF revision happened in 2005 and back then new syllabus was rolled out over a period of 3 years. We believe new NCF adoption this time will also be staggered (like last time). Revised NCF for K-2 was already announced in October-22 and the final draft for school education was released on 23rd August 2023. With final draft being released, we expect phased NCF implementation over next 2-3 years’ period resulting in strong top-line growth for S Chand.

Second hand books to become redundant post NCF implementation: Post formal induction of NCF, entire curriculum will get re-designed and new books will be published rendering the second hand books market completely redundant. In addition, new SKUs will also get launched further aiding volume growth. Pricing benefit will also accrue amid flurry of new launches and absence of any previous benchmark. In light of these factors, we have increased our FY25E sales estimate by 10% and expect top-line CAGR of 17% over FY23-FY26E.

~86% of S Chand’s topline is subject to NCF delta: K-12 revenue (excluding higher education and digital business) formed ~86% of S Chand’s top-line in FY23. The K-2 segment forms ~15-20% of school education sales, while remaining 3 segments K3-K5, K6-K8 and K9-K12 constitute ~20-30% each.

Net debt free with OCF of Rs1bn+ over next 3 years: Subsequent to improvement in working capital cycle (reduced from 318 days in FY19 to 188 days in FY23) S Chand has turned net debt free (Rs546mn of net cash as of June 2023). We expect working capital cycle to improve from 188 days in FY23 to 170 days in FY26E, led by better inventory management. Improved working capital management is likely to result in operating cash flow of ~Rs1bn/Rs1bn/Rs1.3bn in FY24E/FY25E/FY26E respectively.

29 Aug 2023, 11:25:42 AM IST

Sensex Today Live | Share Market updates: Hindustan Zinc aims for increased production

Hindustan Zinc Ltd. is setting its sights on a significant rise in production and faster implementation of carbon-neutral measures with Chairwoman Priya Agarwal Hebbar at the helm.

Priya, the daughter of billionaire Anil Agarwal, founder of the parent company Vedanta Resources Ltd., is poised to lead Hindustan Zinc during its growth phase. This expansion is aligned with India's surge in infrastructure development and Prime Minister Narendra Modi's environmental initiatives.

29 Aug 2023, 11:10:05 AM IST

Share Market Live updates: BSE midcap outshines with over 0.5% gains;  Lodha Developers surges 6.5%

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29 Aug 2023, 11:00:41 AM IST

Share Market Live updates | Swarnendu Bhushan - Co-Head of Research, Prabhudas Lilladher, on Reliance Industries

We believe RIL provides a good investment opportunity given 1) its transition towards new age technologies and 2) cash flow for growth serviced from traditional refining and petrochemical segment. The company is trading at 12.8x FY24 consolidated EV/EBITDA and 22.7x FY24 consolidated PE. We estimate consolidated EPS CAGR of 10.7% for FY23-FY25E and value Refining and petrochemical segment at 7.5x FY25 EV/EBITDA, Digital services at 15x FY25 EV/EBITDA and Retail at 37x FY25 EV/EBITDA. Maintain ‘Buy’ at SOTP based TP of Rs2898. Key risks are project execution and technology risk in new energy.

29 Aug 2023, 10:43:11 AM IST

Share Market Live updates: Bharti Airtel down 1.8% as 1.1 crore shares or 0.16% equity worth ₹922.8 crore changed hands

29 Aug 2023, 10:19:53 AM IST

Share Market Live updates: Nifty Realty jumps 1.7% to lead sectoral indices; Lodha gains nearly 6%

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29 Aug 2023, 10:07:32 AM IST

Share Market Live updates: Pyramid Technoplast shares list on NSE at ₹187 apiece, a premium of 12.6% to the issue price

29 Aug 2023, 09:54:29 AM IST

Share Market Live updates: Gokaldas Exports jumps 20% to hit 52-week high on Atraco acquisition

29 Aug 2023, 09:47:07 AM IST

Share Market Live updates: All sectoral indices in the green on Nifty

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29 Aug 2023, 09:34:19 AM IST

Share Market Live updates: Nifty above 19,300; PGCIL, L&T best gainers; Jio Fin, RIL top laggards

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29 Aug 2023, 09:27:37 AM IST

Share Market Live updates: Sensex up 100 points; Nifty above 19,300; RIL dips; Sun Pharma gains

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29 Aug 2023, 09:16:38 AM IST

Sensex Live updates: Markets open higher tracking global cues; Zomato, RIL in focus

29 Aug 2023, 09:09:40 AM IST

Sensex Live updates: Rupee opens 4 paise higher at 82.59 against the US dollar

29 Aug 2023, 09:03:25 AM IST

Sensex Live updates: Sensex flat in pre-open; auto stocks best gainers

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29 Aug 2023, 08:55:52 AM IST

Share Market Live updates: Jio Fin to enter insurance, plans global tie-ups

Jio Financial Services Ltd (JFSL) is set to launch a slew of insurance products, possibly in partnership with global companies, Reliance Industries Ltd (RIL) chairman and managing director Mukesh Ambani said on Monday. (Read more

29 Aug 2023, 08:46:29 AM IST

Share Market Live updates: Gold prices rise amid weakening US Dollar and Treasury yields

Gold prices witnessed an upswing on Tuesday as the US dollar and Treasury yields pulled back from their recent peaks. This shift comes in anticipation of key U.S. economic data on inflation and employment slated for release this week, which may influence future interest rate decisions.

Spot gold had climbed 0.1% to reach $1,921.69 per ounce, marking its highest jump since August 10 as noted on Monday. US gold futures also ascended by 0.1%, settling at $1,949.30. Meanwhile, the US dollar's strength waned when measured against other major currencies. Moreover, benchmark U.S. 10-year Treasury yields have receded from their highest point since 2007, recorded last week.

29 Aug 2023, 08:33:31 AM IST

Share Market Live | Vaishali Parekh, Vice President — Research at Prabhudas Lilladher on markets

"Nifty, witnessing a decent pullback near the previous day's low level, which is around the 19,230 zone, closed above the 19,300 zone for the day and has now consolidated in the range of the 19,200 to 19,400 zone for quite some time. As said earlier, a decisive move past the 19,400 levels would once again strengthen the trend and carry on the momentum to the upside. On the downside, support is at around 19,200 to 19,230, and a decisive breach below that would turn the bias weak."

29 Aug 2023, 08:15:44 AM IST

Share Market Live | Oil holds close to $80 as market awaits demand signals

Oil prices remained stable, hovering around $80 a barrel as traders are on the lookout for indications about the future demand for crude, particularly from major consumers like the US and China.

West Texas Intermediate has been trading around the $80 mark, recording a 1.5% increase over the previous three days, its most extended upward streak since the end of July. 

29 Aug 2023, 08:00:45 AM IST

Share Market Live | Stocks to Watch: Zomato, Sun Pharma, ONGC, LTI 

Besides Zomato, Sun Pharma, ONGC, LTI Mindtree, Adani group companies, and SJVN, Reliance group shares will also be in focus after it made several key announcements on Monday on succession plan, and its telecom, financial services and insurance businesses

29 Aug 2023, 07:46:17 AM IST

Share Market Live: Asian markets surge amid positive US equities performance

Following an uptick in US equities, most Asian stocks experienced a boost, as traders keenly anticipate a slew of economic data in the coming days that could hint at future global central bank policies.

Hong Kong, Japan, and Australia were in the green but shares in mainland China opened with a dip and quickly transitioned to gains. Meanwhile, US futures remained stable after the S&P 500 recorded its first consecutive increase this August.

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