Nov 03, 2023, 4:03 pm IST
Nifty 50 Closing
Nifty 50 finished at 19,230.60, higher by 97.35 points or 0.51%. The benchmark ranged between 19,210.90 to 19,276.25 during the trade.
Nov 03, 2023, 4:03 pm IST
Sensex Closing
Sensex ended at 64,363.78, up by 282.88 points or 0.44%. The benchmark traded in the range of 64,275.39 to 64,535.19 respectively.
Nov 03, 2023, 3:55 pm IST
Stock Market Statistics
Source:NSE
Nov 03, 2023, 3:54 pm IST
Top 5 Gainers and Losers Today
Source:NSE
Nov 03, 2023, 3:00 pm IST
Raymond Group Acquires 59.25% Stake In Maini Precision Products Limited (MPPL) For Rs 682 Cr
Raymond Group on Friday announced the acquisition of 59.25% stake in Maini Precision Products Limited (MPPL) for Rs 682 crores funded by a mix of debt and internal accruals. The transaction will be subject to requisite regulatory approvals and is expected to be completed during the current fiscal.
Through Ring Plus Aqua Limited (RPAL), a division of JK Files and Engineering Ltd (JK Files), the transaction will be completed. Following the acquisition, Raymond will merge the operations of JK Files, RPAL, and MPPL and create a new subsidiary named "Newco". Raymond Ltd. will hold 66.3% stake in "Newco," which will concentrate on products with precision engineering. As of FY23, "Newco"'s proforma consolidated revenue was Rs 1600 crore, with an EBITDA of Rs 220 crore.
Nov 03, 2023, 2:37 pm IST
Titan Company Announces NCDs of Rs 2,500 Cr At A Coupon Rate of 7.75%
Titan Company on Friday announced that the Debenture Committee has today, i.e., on 3rd November 2023, approved the allotment of 2,50,000 Rated, Listed, Unsecured, Redeemable, Senior, Non-Cumulative, Non-Convertible Debentures each having a face value of Rs. 1,00,000/- of the aggregate nominal value of Rs. 25,00,00,00,000/-, in two series i.e. Series 1 and Series 2 of Rs. 1,250 crore each for a tenor of 18 months 2 days and 24 months, respectively, to identified investors on private placement basis.
“The NCDs have a fixed rate coupon of 7.75% and have been issued on the basis of multiple yield allotment method and the NCDs will be listed on the National Stock Exchange of India Limited,” said the company in a stock exchange filing.
Nov 03, 2023, 2:11 pm IST
MRF Q2 Results
MRF Ltd revealed on Friday that its net profit for the second quarter of FY24 jumped by 361% year on year (YoY) to Rs 571.9 crore from Rs 123.9 crore in the corresponding quarter of the previous fiscal year. During the quarter under review, revenue climbed by 6% to Rs 6,087.56 crore from Rs 5,719 crore in Q2FY23. Additionally, an interim dividend of Rs 3 per equity share was declared by the board of directors.
Nov 03, 2023, 12:49 pm IST
Services Sector Activity In India Falls To 7-Month Low In October: PMI
The services sector growth in India declined to a seven-month low in October on softer increase in output and new business, amid competitive conditions and price pressures, a monthly survey said on Friday.
The seasonally adjusted S&P Global India Services PMI Business Activity Index declined to 58.4 in October, from a 13-year high of 61 in September, signalling the slowest rate of expansion since March, according to a PTI report.
In Purchasing Managers' Index (PMI) parlance, a print above 50 implies expansion while a score below 50 indicates contraction. The survey is compiled from responses to questionnaires sent to a panel of around 400 service sector companies, added the PTI report.
Nov 03, 2023, 12:48 pm IST
Tata Motors Shares Jump Over 2% After Q2 Earnings
Shares of Tata Motors gained 2.26% to 651.20 per share after it announced impressive second quarter earnings. During the July-September quarter, Tata Motors declared its consolidated net profit at Rs 3,764 crore. It posted a consolidated net loss of Rs 945 crore in the corresponding quarter last year.
Nov 03, 2023, 12:01 pm IST
Adani Ports Shares Gain Over 2% As APSEZ Delivers Record Cargo Volumes In October
The share price of Adani group firm Adani Ports surged 2.29% higher on Friday at Rs 791.90 per share after in a business update the company said that APSEZ records its highest ever monthly cargo volumes of 37 MMT, implying a Y-o-Y growth of 48%.
Nov 03, 2023, 11:35 am IST
MRF Shares Trade At Rs 111100 Per Share, Up 0.53% Ahead Of Q2 Results
MRF LTD will announce its results for the quarter and half year ended 30th September, 2023 on Friday. Today, MRF shares were seen trading 0.53% higher at Rs 111100 per share at 11:22 am IST.
Nov 03, 2023, 11:06 am IST
Stock Market Statistics
Source:NSE
Nov 03, 2023, 10:54 am IST
ESAF Small Finance Bank IPO Opens Today
The initial public offering (IPO) of ESAF Small Finance Bank opened for subscription on Friday. The last day to subscribe to the Rs 463 crore ESAF Small Finance Bank IPO is November 7 (Tuesday) as the public issue closed on this day.
Ahead of the IPO launch, the Kerala-headquartered ESAF Small Finance Bank mopped up Rs 135.15 crore from anchor investors on Thursday. The price band of the public issue has been fixed between Rs 57-60 per equity share. The small finance bank is looking to raise Rs 463 crore from the IPO at the upper end of the price band of Rs 57-60 per share.
Nov 03, 2023, 10:08 am IST
Suzlon Energy Shares Trade 5% Higher At Rs 34.44 A Piece
Today, the share price of Suzlon Energy Ltd was spotted trading 5% higher at Rs 34.44 per share at 10:02 am IST. In its financial results announced Thursday, the company reported 79% growth in its net profit for the quarter ended September 30, 2023.
Nov 03, 2023, 9:56 am IST
Top 5 Gainers and Losers Today
Source:NSE
Nov 03, 2023, 9:51 am IST
JK Lakshmi Cement's Q2 Profit Surges 55% To Rs 96 Crore, Stock Gains 6%
Shares of JK Lakshmi Cement saw a jump of nearly 6% in early trading on November 3 following strong Q2 results. The company reported a robust 55% year-on-year growth in consolidated profit, reaching Rs 96 crore for the July-September period of FY24. This remarkable performance was attributed to increased volume, an improved product and sales mix, and reduced fuel costs. Additionally, revenue from operations saw a significant 14.6% year-on-year increase, totaling Rs 1,574.5 crore, with sales volume climbing 13.8% to 28.78 lakh tonnes.
Nov 03, 2023, 9:49 am IST
Mahindra Finance Disburses Approximately Rs 5,250 Crore in October
Mahindra & Mahindra Financial Services saw its shares gain 1% on November 3 after reporting disbursements of around Rs 5,250 crore in October, matching the previous year's figures. Year-to-date, the company's disbursements have totaled approximately Rs 30,700 crores, reflecting a year-on-year growth of 16%. This steady performance underscores the company's financial strength and stability.
Nov 03, 2023, 9:40 am IST
Tata Motors Shares Surge Following Strong Earnings Report
Tata Motors' shares have extended their gains for the second consecutive day, rising by nearly 3%. The company reported consolidated revenue and EBITDA that met expectations, delivering a net profit of Rs 3,764 crore, a significant turnaround from last year's net loss. Jaguar Land Rover (JLR) posted impressive results, with a 30.4% revenue increase and a 430-basis point margin expansion to 14.9%. JLR also raised its financial year 2024 EBIT margin guidance to 8%, elevating market confidence. The stock has seen a remarkable 65.2% increase in value this year.
Nov 03, 2023, 9:26 am IST
Market Opens With Healthy Gains, Nifty Surpasses 19,250
The Indian stock market opens on a positive note this Friday, with the Sensex and Nifty advancing by around 0.6% each. Nifty breaches the 19,250 level, while Sensex approaches the critical 64,500 mark. Among the 50 Nifty constituents, 47 are trading higher, led by notable gains from Apollo Hospitals and Tata Motors, both surging by up to 3%. Additionally, Nifty Bank makes a solid start above 43,300, with 11 out of its 12 constituents posting gains.
Nov 03, 2023, 9:12 am IST
Pre-Open Market Update: Sensex And Nifty Edge Higher
In the pre-opening session, benchmark indices showed a positive trend, with the Sensex gaining approximately 362 points (0.57%) at 64,443.38 and the Nifty rising 108 points (0.56%) to reach 19,241.25. Meanwhile, the Indian rupee opened unchanged at 83.23 per dollar, maintaining stability from the previous close at 83.24.
Nov 03, 2023, 9:04 am IST
Shilpa Medicare Acquires Pilnova Pharma In The US
Shilpa Medicare Limited has made a significant move by acquiring Pilnova Pharma, Inc, based in the United States. Following the acquisition, Pilnova Pharma now functions as a wholly-owned subsidiary of Shilpa Medicare Limited. This transaction involves the purchase of 100 shares of common stock with a par value of .00 per share and is an all-cash deal. While turnover details are not available for the newly acquired entity, Pilnova Pharma, Inc specializes in providing marketing and sales support.
Nov 03, 2023, 9:02 am IST
USD-INR Outlook
Anand James said, "The slight negative bias that was expected yesterday, being below 83.26, played out without any directional moves. Expect swings on either sides of the same today, even as we remain in wait for a range breakout beyond 83.4-83 to welcome speed."
Nov 03, 2023, 9:01 am IST
Nifty Derivative Outlook
According to Anand James, Nifty weekly contract has highest open interest at 19150 for Calls and 19100 for Puts while monthly contracts have highest open interest at 20000 for Calls and 19000 for Puts. Highest new OI addition was seen at 19150 for Calls and 19100 for Puts in weekly and at 19800 for Calls and 19100 for Puts in monthly contracts. FIIs increased their future index long position holdings by 17.48%, increased future index shorts by 9.95% .Decreased in index options by 22.86% in Call longs, 19.83% decrease in Call short, 13.47% decrease in Put longs and 18.83% decrease in Put shorts.
Nov 03, 2023, 9:01 am IST
Nifty Outlook Today
Anand James, Chief Market Strategist at Geojit Financial Services said, "A narrowing bollinger band along side prices swinging higher from oversold region and maintaining above 19120 for most part of yesterday encourages us to persist with the 19420 trajectory. The 19250 region will be a point of indecision today, but as long as we do not get back below 19170 after initial rise, extended upside could be expected."
Nov 03, 2023, 9:00 am IST
Bank of England Maintains 5.25% Interest Rate, No Immediate Cuts
In line with the Federal Reserve's recent decision to hold steady on interest rates due to declining global inflation, the Bank of England (BoE) has also opted to keep its key interest rate at 5.25%. This marks a pause in the BoE's previous streak of 14 consecutive rate hikes. Notably, the UK's interest rate remains at its highest point in over 15 years, reflecting the nation's elevated annual inflation compared to G7 counterparts.
Nov 03, 2023, 9:00 am IST
Morning Market Outlook
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "Market history tells us that sharp up moves in the market happen at unexpected times. It appears that this truism is turning out to be true. The Fed decision to hold rates and refrain from making hawkish indications has emboldened the bulls to make a strong comeback in the mother market US with S&P rising 1.9% yesterday. Good earnings numbers and expectations that the interest rate will remain stable for now and will decline in H2 of CY2024 have facilitated market recovery.
The positive global sentiments can embolden the bulls in India to stage a comeback. Since FIIs are short in the market, short covering is a possibility.
Investors should remember that the buy on dips strategy has worked in this market. It is likely to work again. High quality large-caps in financials, automobiles and capital goods are on strong wicket. Mid-cap IT is doing well."
Nov 03, 2023, 8:53 am IST
L&T Unveils Strategic Move: Share Purchase Agreement with STUP
Larsen & Toubro (L&T) recently signed a Share Purchase Agreement with STUP Consultants Private Limited, marking a significant development. Under this agreement, L&T will transfer its entire shareholding in L&T Infrastructure Engineering Limited (LTIEL), a wholly-owned subsidiary. Although LTIEL's contributions to L&T's consolidated revenue for FY23 were relatively modest at 0.05%, this strategic move is capturing market attention.
Nov 03, 2023, 8:09 am IST
Market Shows Resilience, Nifty Likely To Open With Healthy Gains
The Indian stock market displayed remarkable resilience as it staged a rebound on Thursday, marking an eventful week of trading. While the market ended the day with notable gains, it fell just short of overcoming a crucial resistance level, leaving investors and traders closely monitoring the Nifty's performance as the week drew to a close. Among the key stocks under scrutiny is Tata Motors, which reported a robust performance for the September quarter, emphasizing strong margins for Jaguar Land Rover.
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