Jan 09, 2024, 3:08 pm IST
Today’s Gold Prices India, Jan 9: Yellow Metal Prices Fall For 5th Consecutive Day
Gold prices India continue to witness decline for 5th consecutive day on Tuesday, January 9, 2024. Current market price of 22 carat of 10 grams gold in India is Rs 57,700 after the dip of Rs 100 and cost of 24 carat of 10 grams yellow metal is Rs 62,950 after the fall of Rs 100.
Price of 100 grams of 22 carat gold in India today is Rs 5,77,000 after decline of Rs 1000 and cost of 100 grams of 24 carat precious metal in the country is Rs 6,29,000 after the decline of Rs 1000.
Prices of 22 carat of 10 grams gold have now declined by Rs 1050 and cost of 24 carat of 10 grams yellow metal came down by Rs 1140 in last 5 days in a row.
Price of 10 grams of 18 carat gold in the country today is Rs 47,210 after the fall of Rs 80 on Tuesday.
Jan 09, 2024, 3:06 pm IST
Gensol Engineering Inks MoU With Guj Govt, Shares Rally 1999.60% In 2-Yrs
Small cap engineering sector company Gensol Engineering today executed Memorandum of Understanding with the State Government of Gujarat for an investment of INR 2,000 Crore for Electric Vehicle Manufacturing. It will generate around 1,500 jobs in the region. Current market price of Gensol Engineering share on BSE is Rs 839.00 apiece with intraday gain of 4.41%. Gensol Engineering shares soared 1999.60 in last 2-years only. Gensol Engineering has a market capitalisation of Rs 3,177.54 crore.
Jan 09, 2024, 3:04 pm IST
Sarveshwar Foods Ltd Gets GI Tag, Jumps 5%
Small cap stock operating in FMCG sector, Sarveshwar Foods Ltd on Tuesday gained 4.84% after the company has been granted 1 “Geographical Indication”( GI) tag in Jammu & Kashmir for Basmati Rice by APEDA ( Ministry of Commerce & Industry, Govt. of India).
With this, Sarveshwar Foods limited became the 1st and only company based in Jammu and Kashmir region which has the GI tag for Basmati rice for export purposes.
GI tag awarded by the APEDA (Ministry of Commerce & Industry, Govt. of India) after thorough verification of records, quality of the product, their properties, origan, and procurement, processing procedure adopted by Sarveshwar Foods for its Basmati Rice, and henceforth entitles the company to affix GI Tag on its packaging for export.
Commenting on the occasion, Mr. Rohit Gupta, Chairman of the Company said "it is an honour for entire team that Sarveshwar Foods Limited has become the first and the only Company from Jammu & Kashmir to obtain Geographical Indication”( GI) from APEDA ( Ministry of Commerce & Industry, Govt. of India) for Basmati Rice. He further added "We are hopeful that with use of the GI tag, Sarveshwar Foods limited will be able to augment its strength both in the domestic tariff area as well as in International market for its Basmati rise in the coming times.
Jan 09, 2024, 2:45 pm IST
Tata Motors Shares Trade 52-Week High
Tata Motors shares hit its new 52-week high in trade today to Rs 799.10 per share after Jaguar Land Rover (JLR) announced its highest wholesale figures in 11 quarters for the October-December period.
Tata Motors shares surged 2.5% after JLR, the company’s luxury car division, sold 27% more vehicles in the December quarter of FY24 from the year-ago period.
Tata Motors shares gained 11% in last 2-weeks and soared 29% in last 3-months.
Jan 09, 2024, 2:00 pm IST
UPL To Acquire Corteva's Global Business
UPL is set to acquire Corteva's global business related to the fungicide Mancozeb in specific countries. Mancozeb, utilized to safeguard crops from various plant diseases, is a fungicide applied across a diverse range of crops.
Jan 09, 2024, 1:40 pm IST
Nykaa Shares Near Rs 200 Per Share, Surpass Adjusted IPO Price
Nykaa shares have surpassed the adjusted IPO price, nearing the Rs 200 mark after almost 15 months. FSN E-Commerce Ventures Ltd., the parent company of the beauty and personal care brand Nykaa, has seen its stock rise for the fourth consecutive day on Tuesday. Over the past four trading sessions, the stock has experienced a nearly 15% increase.
In today's session, the stock reached an intraday high of ₹191.25, surpassing Nykaa's adjusted IPO price of ₹187.25. This adjustment accounts for the 5:1 bonus issue that the company announced in November 2022.
Jan 09, 2024, 1:29 pm IST
Zee Entertaintment Issues Clarification On Merger Termination Reports With Sony
Media giant, Zee Entertainment has issued a clarification stating that the reports of billion merger deal being called off are baseless and the company is "committed to the merger with Sony and is continuing to work towards a successful closure of the proposed merger."
Jan 09, 2024, 1:19 pm IST
Life Insurance December Data
HDFC Life witnesses a 3.3% increase in premiums, while Individual APE experiences an 8.6% decrease. Total APE shows a positive growth of 3.3% year-on-year (YoY).
ICICI Prudential reports a 3% rise in premiums, with Individual APE seeing a 4.2% increase. Total APE records a 2.9% YoY growth.
Max Life observes a substantial 18% surge in premiums, with Individual APE soaring by 25.7%. The Total APE reflects a robust 21.9% YoY increase.
SBI Life marks a notable 21% increase in premiums, accompanied by a 21.8% rise in Individual APE. The Total APE demonstrates a commendable 21.2% YoY growth.
LIC reports an impressive 94% surge in premiums. Individual APE, however, registers a modest 2% increase, while the Total APE shows a substantial 22.6% YoY growth.
Jan 09, 2024, 1:03 pm IST
Aether Industries Climbs More Than 4% On Launch Of Polyols Manufacturing Tech
Aether Industries Ltd experiences a rise of over 4% following the introduction of innovative polyols manufacturing technology. The company recently unveiled Converge, a groundbreaking technology designed for the production of polyols, an organic compound aimed at significantly reducing carbon emissions.
Jan 09, 2024, 12:28 pm IST
IndusInd Bank Introduces the 'Samman RuPay Credit Card'
In a joint effort with the National Payments Corporation of India (NPCI), IndusInd Bank has unveiled the UPI-enabled 'IndusInd Bank Samman RuPay Credit Card.'
Jan 09, 2024, 12:18 pm IST
Bharti Airtel Secures Contract From Adani Energy
Airtel Business, the business-to-business (B2B) segment of Bharti Airtel, has revealed that it has been chosen to provide connectivity for more than 20 million smart meters by Adani Energy Solutions Limited (AESL).
Jan 09, 2024, 12:12 pm IST
L&T Hits Record High On Major Contract For New AIIMS Facility
On Tuesday, January 9, Larsen & Toubro's shares reached an all-time high of Rs 3,575.90 per share following the announcement that L&T Construction had successfully secured a substantial contract for its buildings and factories division. The project involves the construction of a new AIIMS facility in Rewari, Haryana, as revealed in a company press release.
The contract, valued between Rs 1,000 crore to Rs 2,000 crore, was awarded by HITES (A Mini Ratna PSU) under the Health and Family Welfare Ministry, according to the statement. L&T clarified that orders falling within the Rs 1,000 crore to Rs 2,000 crore range are categorized as 'significant' in their terms.
Jan 09, 2024, 10:33 am IST
Jyoti CNC Automation IPO Garners Rs 448 Crore From Anchor Investors
Jyoti CNC Automation on Monday raised Rs 448 crore from anchor investors a day before its initial share-sale offer opening for public subscription. This will be the first public issue of 2024 on the main board of leading stock exchanges BSE and NSE. The company has allotted 1.35 crore equity shares to 37 funds at Rs 331 apiece, which is also the upper end of the price band, according to a circular uploaded on BSE's website. At this price, the company has garnered Rs 447.75 crore. The entities that participated in the anchor bidding include Goldman Sachs, Nomura, Neuberger Berman Emerging Markets Equity Fund, The Master Trust Bank of Japan, Eastspring Investments India Fund, HDFC Life Insurance Company, Bajaj Allianz Life Insurance Company, ICICI Prudential Mutual Fund (MF), Axis MF, Nippon India MF and Edelweiss MF.
Jan 09, 2024, 9:40 am IST
Genesys' New India Map Platform Adopted As Official Map For Ayodhya
The Ayodhya Development Authority has selected Genesys International's New India map platform as the official map for Ayodhya City, marking a significant milestone in the map-making industry. One of the top domestic providers of mapping technology solutions is Genesys International. Their New India map technology offers customers an unmatched and immersive experience by fusing state-of-the-art 2D navigation with a 3D digital twin of the entire city. Along with offering the best routes and destinations, the Genesys Ayodhya map also has elements specifically designed for electric vehicles, which is in line with Ayodhya's dedication to environmental sustainability. This map platform will be very helpful in transforming Ayodhya into a smart and sustainable city for residents, pilgrims, and government officials, along with additional purposes. The project will have amazing features, such as a sophisticated 3D mapping system that can be navigated and a special change detection function. This feature makes it possible for authorities to quickly follow and monitor developments, which speeds up the deployment of infrastructure and resources where it is required.
Jan 09, 2024, 9:16 am IST
USD-INR Outlook
Downside momentum looks to have eased, but the trajectory is not altered yet, being below 83.10. Towards this end, 82.9 is being aimed for, but a pull back above 83.10 will encourage short covering, stated Anand James, Chief Market Strategist, Geojit Financial Services.
Jan 09, 2024, 9:16 am IST
Nifty Derivative Outlook
Anand James, Chief Market Strategist, Geojit Financial Services said, "Nifty weekly contract has highest open interest at 21700 for Calls and 21000 for Puts while monthly contracts have highest open interest at 22000 for Calls and 21000 for Puts. Highest new OI addition was seen at 21600 for Calls and 21100 for Puts in weekly and at 21600 for Calls and 21000 for Puts in monthly contracts. FIIs increased their future index long position holdings by 0.99%, increased future index shorts by 25.00% and in index options by 20.13% in Call longs, 3.18% in Call short, 61.53% in Put longs and 37.72% in Put shorts."
Jan 09, 2024, 9:15 am IST
Nifty Outlook
Anand James, Chief Market Strategist, Geojit Financial Services said, "Having slipped into the vicinity of the 5 day low, and not far from the 20d SMA at 21451, Nifty will begin the day weighing the prospects of a bounce back and a sideways move. Yesterday’s pivot at 21630 could keep a lid on such hopes though. We favour a sideways move, and this will be a crucial phase that should set the stage for directional moves shortly."
Jan 09, 2024, 9:12 am IST
Morning View On The Market from Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
"The 197 point decline in Nifty yesterday despite marginal buying by both FIIs and DIIs indicates strong build up of short positions in the market. Long positions are steadily declining and short positions are building up. This short build up is on bearish expectations that the present high valuations are difficult to sustain and some triggers may lead to sharp corrections.
This expectation need not be realised since global cues have again turned positive on a rally in the US market. Domestic cues are looking good. Buy on dips strategy may work again leading to some short covering.
Strong JLR numbers from Tata Motors and the attractive buy back offer from Bajaj Auto will give support to the Nifty Auto Index. The real estate segment is doing well and the margin expansion happening in the industry bodes well for the sector. But the good news is in the price."
Jan 09, 2024, 9:03 am IST
Market Outlook Today
The markets witnessed a round of correction on 8th January and ended the session lower at 21,513. On the daily chart, the Index has formed a bearish engulfing pattern while an early indication from GIFT Nifty suggests a strong opening. It will be a wait-and-watch condition in the opening 30-40 minutes (sustainability at a higher level will be a key factor). The immediate support stands at 21,465 while the upside seems to be capped at 21,650. BankNifty is likely to dent the market sentiments as it has given a breakdown from a Head and Shoulder formation (hourly chart), today's trade will confirm a success or failure of the pattern. The Metal and PSU Banking sectors are trading with a bearish divergence which indicates a short-term weakness; however, the undertone remains positive, and such correction will offer better entry points. OMCs, Paints, and Tyre stocks will remain in focus as a correction in crude oil is positive for such Industries. Both Mid and Smallcap indices have given an early indication of a bearish divergence, post the confirmation, one can expect a correction in the short run, said Mr. Aditya Gaggar, Director of Progressive Shares.
Jan 09, 2024, 8:48 am IST
Indian Mutual Fund Industry Achieves 6x Growth In 10 Years
The Association of Mutual Fund in India (AMFI) has announced that the mutual fund (MF) sector has surpassed Rs 50 Lakh Crores in Assets Under Management (AUM), a noteworthy milestone that attests to the solid growth and long-term reliability of the Indian mutual fund industry. From Rs 8.25 lakh crores AUM in 2013 to Rs 50 lakh crores AUM in 2023, the mutual fund sector has grown six times in ten years. With total inflows through SIPs alone surpassing Rs 1,41,000 crores, the monthly gross SIP inflows, which were about Rs 8,000 crore in FY20, have now increased to an all-time high of Rs 17,610 crores in December 2023. Another noteworthy achievement was the SIP AUM reaching Rs 10 Lakh Crores by the end of December 2023.
Jan 09, 2024, 8:42 am IST
Cupid Receives Orders For Rs. 16.23 Cr from Central Medical Services
The Central Medical Services Society (CMSS) has placed orders with Cupid Limited totalling Rs 16.23 crore for male condoms. Two orders for male condoms from CMSS valued at Rs 9.65 crore and Rs 6.58 crore, respectively, were obtained by Cupid Ltd. According to the exchange filing produced by the company on January 8, 2024, the orders received shall be fulfilled by April 2024.
Jan 09, 2024, 8:39 am IST
Stock Picks For Today By Sumeet Bagadia of Choice Broking
Buy TVSMOTOR in cash @ Rs 2037.80, stop-loss: Rs 1975, target: Rs 2125, Buy TIINDIA in cash @ Rs 3769, stop-loss: Rs 3692, target: Rs 3969.
Jan 09, 2024, 8:37 am IST
Stocks To Watch
On Tuesday, January 9, 2023, market observers will be focusing on a number of popular stocks, namely Oil India, ZEEL, Adani Ports, Tata Motors, and Cupid.
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