BSE Sensex witnessed gain of 331 points to 79,104 and Nifty jumped 115 points to 24,110 in late afternoon trade on November 5, 2024. Nifty Bank gained 731 points to 51,946 and Nifty Midcap jumped 98 points to 55,882 in afternoon trade on Tuesday. Metals and Banks sector stocks witnessed rally in trade today. Gland Pharma shares gained 11.8% in trade today after the company announced better-than-expected operational performance for the second quarter ended September 2024.
Earlier, the Sensex and Nifty were trading range bound on Tuesday morning, due to mixed sentiment in global markets. As of 12 Noon, the Sensex had dipped 458 points(0.58%) to 78,323, while the Nifty was marginally lower at 23,857, down by 0.57% or 137 Points.
Sectorally, some of the indices like Auto, Pharma, IT, metal were trading in the green, indicating positive investor sentiment towards these sectors. Conversely, the Nifty Bank, infra, FMCG, Media, Realty, and were trading lower this morning .In the broader market, the Nifty Small cap and Midcap indices were also trading lower, indicating a subdued mood among investors.
Earlier, Amid mixed global cues, the Indian benchmark indices began flat on Tuesday. The Sensex was 100.64 points, or 0.13 per cent lower, at 78,681.60, while the Nifty began below the 23,900 hurdle at 23,916.50. On the Nifty-50 index, the top 5 gainers were Hindalco Ind, JSW Steel, Tata Steel, HCL Tech and Tata Motors while the top 5 losers were HDFC Bank, HDFC Life, Bharti Airtel, Reliance Industries and Bajaj Finance.
Since the State-run Indian Railway Catering and Tourism Corporation (IRCTC) announced a 4% increase in its consolidated net profit to Rs 308 crore for the quarter ended September 30, 2024, stock-specific movements can be observed in the shares of IRCTC on Tuesday. Today, heavyweight stocks like Titan Company, GAIL, Mankind Pharma, Dr Reddy's Laboratories, Mazagon Dock Shipbuilders, Oil India, and SJVN will announce their Q2 results.
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Nov 05, 2024, 2:50 pm IST
Sensex, Nifty Recovers
Sensex and Nifty 50 recovered sharply and gained by around 1% each from their intraday lows. Sensex is above 79,400 and Nifty is nearly 24,200. Financial and metal stocks drive the benchmarks.
Nov 05, 2024, 2:01 pm IST
Apollo Green Energy To Go Public Next Year; Aims To Build Rs 10,000 Cr Project Portfolio By 2025
Apollo Green Energy Ltd (AGEL), part of Apollo International Group, on Tuesday said it is preparing for a public listing next year to support its expansion plans and secure new projects. Also, the company is set to build a Rs 10,000-crore project portfolio by 2025. "With over 200 professionals and an order book of Rs 3,500 crore, we are focused on delivering projects that meet the nation's energy needs and promote sustainability, according to PTI report.
Our upcoming IPO in 2025 will further strengthen our financial base, enabling us to scale our operations and invest in cutting-edge renewable technologies," Sanjay Gupta, CEO, Apollo Green Energy Ltd, said.
Nov 05, 2024, 1:32 pm IST
Gold Prices Fall, Nov 5: 24K/100 Grams Gold Dives By Rs 1600, Silver Down Too
Gold prices today witnessed decline as traders sought to refrain from taking big positions ahead of crucial US Presidential elections and the upcoming Federal Reserve policy meeting later this month. 24k gold prices today in Delhi slipped by Rs 160 to Rs 80,390/10 grams and 100 grams of 24 carat precious metal prices today declined by Rs 1600 to Rs 8,03,900 on Tuesday. 22k gold prices today fell by Rs 100 to Rs 73,700/10 grams and 100 grams of 22 carat yellow metal prices today dipped by Rs 1000 to Rs 7,37,000. Meanwhile, 18k gold prices today in the national capital slipped by Rs 80 to Rs 60,300 and 100 grams of 18 carat precious metal prices today fell by Rs 800 to Rs 6,03,000 on November 5, 2024.
1 gram gold rate today for 22k fell by Rs 10 to Rs 7,370 and 1 gram gold rate today in Delhi for 24k lost fell by Rs 16 to Rs 8039. 1 gram gold price today for 18 carat gold dived by 8 to Rs 6030.
Nov 05, 2024, 1:03 pm IST
Sushain Wellness Secures 1.8 Crore Seed Funding from Prajay Advisors
Sushain Wellness and Wholeness Private Limited, an innovative HealthTech platform combining traditional healing systems with cutting-edge technology, has successfully secured INR 1.8 crore in a seed round of funding from Prajay Advisors LLP, a prominent venture capital firm based in Mumbai. N. A facilitated the transaction—Shah Advisors LLP, who served as the transaction advisor.
This funding marks a significant milestone in Sushain’s mission to transform healthcare by integrating ancient healing practices, such as Ayurveda, Homeopathy, and Unani, with modern technological advancements. The fresh capital injection will empower Sushain to enhance its technological infrastructure and expand its holistic healthcare services, catering to a growing demand for natural, technology-driven healthcare solutions, according to a PTI report.
Nov 05, 2024, 11:57 am IST
Solar Industries India Ltd Bags an order worth Rs. 887 Crores
Solar Industries India Limited has received an order worth Rs. 887 Crores from Singareni Collieries Company Limited on november 5th for the supply of SME explosives, LDC explosives and initiating systems for blasting of Overburden, to be delivered over a period of two years.
Nov 05, 2024, 11:55 am IST
L&T Announces Strategic Partnership with E2E Networks
Larsen & Toubro (L&T), India’s premier tech-led conglomerate, has announced a strategic partnership with E2E Networks, an Indian Cloud and AI Cloud provider. The partnership is a significant step towards the adoption of GenAI solutions in India to foster a fundamental shift in the way Accelerated Computing on Cloud is used by Indian organisations. The transformative journey for organisations in AI adoption is a fundamentally different approach to implementing GenAI software solutions using Cloud GPUs to utilise an organisation’s deep learnings to deploy and evolve production-grade selfadapting AI Software. L&T will also acquire a 21% equity stake in E2E Networks through a combination of primary and secondary transactions. Under this alliance, L&T will integrate E2E Networks’ Cloud and AI Cloud platform with its expertise in data center management and cloud solutions towards empowering startups, and enterprises. The collaboration aims to accelerate digital transformation for a diverse range of industries, fostering a technology-driven, sustainable future for India.
Nov 05, 2024, 10:36 am IST
India Gold Rates Dips Marginally on November 5th
India gold prices for 24-carat gold fell by Rs. 160/- per 10 grams today and currently stands at Rs. 80,240/-. Similarly, 22-carat gold rates in India experienced a drop of Rs. 160/-, settling at Rs. 73,550/- per ten grams.
Venus Remedies Limited, an exporter of affordable generic drugs with presence in more than 80 countries, has achieved a major regulatory milestone by receiving Good Manufacturing Practices (GMP) approval with Pharmaceutical Inspection Co-operation Scheme (PICA) accreditation from the National Pharmaceutical Regulatory Agency (NPRA) of Malaysia for its state-of the-art robotic pre-filled syringe (PFS) facility at its Baddi unit. This marks the first Plc/S GMP accreditation for Venus Remedies' PFS facility, adding to the GMPs already secured by the company from more than 25 regulatory authorities, including the WHO, European union and Saudi Arabia. The company has more than 35 marketing authorisations fc)r its flagship PFS drug, enoxaparin, from various important markets like Saudi Arabia, Azerbaijan, Philippines, Myanmar, Kenya, Moldova, and Nepal.
Nov 05, 2024, 9:51 am IST
JK Paper Shares In Focus
One of the largest paper and packaging solutions companies in India, JK Paper Ltd., on Monday reported a consolidated turnover of Rs. 1,777 Cr, EBITDA of Rs. 295 Cr, and profit after tax (PAT) of Rs. 128 Cr for the quarter that ended on September 24. Consolidated Turnover, EBITDA, and PAT for the half-year that ended in September 2024 were Rs. 3,582 Cr, Rs. 605 Cr, and Rs. 268 Cr, respectively. Commenting on the results, Shri Harsh Pati Singhania, Chairman & Managing Director, said, “The results have been primarily affected due to continuing high wood cost. Sizeable increase in imports at much lower prices have significantly impacted volume and realisation in the Printing & Writing and Packaging Board Segment.”
Nov 05, 2024, 9:32 am IST
Opening Bell
In the early trade on Tuesday, the Nifty/Sensex opened flat but bulls took charge quickly and indices took upward momentum as the Nifty recovered by 0.12% whereas Sensex gained 0.05%.
Nov 05, 2024, 9:13 am IST
Nifty Derivative outlook today by Anand James, Chief Market Strategist, Geojit Financial Services
Nifty weekly contract has highest open interest at 27000 for Calls and 22450 for Puts while monthly contracts have highest open interest at 26000 for Calls and 24000 for Puts. Highest new OI addition was seen at 24000 for Calls and 22450 for Puts in weekly and at 24000 for Calls and 23000 for Puts in monthly contracts. FIIs increased their future index long position holdings by 16.51%, increased future index shorts by 8.30% and in index options, 30.94% increase in Call longs, 13.55% increase in Call short, 30.90% increase in Put longs and 29.09% increase in Put shorts.
Nov 05, 2024, 9:05 am IST
Rupee Vs Dollar
After closing at 84.11 on Monday, the Indian rupee started untouched at 84.14 per dollar on Tuesday.
Nov 05, 2024, 9:03 am IST
Nifty Outlook Today By Anand James, Chief Market Strategist, Geojit Financial Services
A mean reversion move higher is expected after Nifty’s plunge below the August low of 23894, took it to the farthest from its 10 day EMA since 22nd Oct. An inside bar in 4hr charts also encourages us to pursue such an upmove. But, with VIX closing strong despite the recovery move in the second half, risk appetite still appears low, prompting us to limit upside expectations to 24176-260 for today. We will however, be encouraged to chase prices higher to 24660-770, should there be a close above 24360. Downside marker may be placed near 23950, below which, the 200 day SMA at 23452 will stand exposed.
Nov 05, 2024, 8:59 am IST
Indian Stock Market Outlook Today By Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
With all attention focused on the outcome of the US presidential election, perhaps the more important domestic economic issue is not getting the importance it deserves. It is important to understand that India’s underperformance is striking: while S&P 500 is up 20.45% YTD Nifty is up by only 10.36% YTD. Clearly, domestic issues are weighing on markets. With two thirds of Nifty 50 companies missing their earnings estimates in Q2, Nifty 50 earnings for FY25 has been drastically revised down to less than 10% from the consensus 15% earlier. With this kind of earnings downgrade it would be difficult to sustain the current valuation. This is the rationale of the relentless FII selling which might continue for some more time.
Investors can opt for the safe strategy of remaining invested and accumulating stocks in segments which can weather the volatility. Apart from leading financials, auto stocks like Eicher Motors and M&M have exhibited earnings momentum and improving prospects, going forward.
Nov 05, 2024, 8:54 am IST
Raymond Share Price In Focus
On Monday, Raymond Ltd. revealed that its consolidated net profit for the second quarter of this fiscal year had dropped by 63% to Rs 59.01 crore. In the year-ago quarter, its net profit was Rs 161.16 crore. According to a regulatory filing, total revenue increased from Rs 512.35 crore in the July–September period of the previous fiscal year to Rs 1,100.70 crore during the current quarter of FY25.
Nov 05, 2024, 8:42 am IST
VST Tillers Tractors Shares In Focus
On Monday, VST Tillers Tractors Limited (VST) reported that its second-quarter turnover of Rs 283.43 Cr had increased from Rs 278.51 Cr in the year-ago quarter. Compared to Rs 49.66 Cr during the same time last year, the profit before taxes is Rs 57.53 Cr in the current quarter, a 16% growth. At Rs 44.93 Cr YoY, net profit increased by 23% in Q2FY25. The turnover so far this year is Rs 474.02 Cr, up from Rs 524.65 Cr in the first half of the previous year. With the same sales margin, the profit before taxes is Rs 85.47 Cr, compared to Rs 92.25 Cr the previous year. Compared to Rs 69.44 Cr the previous year, net profit was Rs 67.78 Cr.
Nov 05, 2024, 8:32 am IST
Maruti Suzuki India Shares In Focus
In Milan, Italy, on Monday Suzuki Motor Corporation presented the e VITARA, its first battery electric vehicle (BEV) model to be produced in bulk units. Suzuki Motor Gujarat in India will start production in the spring of 2025, and sales are anticipated to start in a number of nations, including Europe, India, and Japan, in the summer of the same year.
Nov 05, 2024, 8:22 am IST
IRFC Share Price In Focus; Here’s Why
In comparison to the Rs. 3095.86 crore reported for the same period last year, Indian Railway Finance Corporation Limited (IRFC) declared PAT at Rs. 3189.47 crore on Monday. In comparison to the Rs. 1544.58 crore reported in Q2 FY 2023-24, the firm recorded a 4.41% rise in profit for Q2 FY 2024-25, at Rs. 1612.65 crore. In comparison to Q2 FY 2023-24, when total income was Rs. 6762.18 Crore, it increased by 2.04% to Rs. 6900.20 Crore in Q2 FY 2024-25. At the end of the six-month period that ended on September 30, 2024, the assets under management (AUM) were Rs. 462282.62 crore. For the six months ending September 30, 2024, the company's earnings per share were Rs. 2.44.
Nov 05, 2024, 8:12 am IST
Poonawalla Fincorp Shares In Focus
On Monday, the Board of Directors of the company approved the issuance of secured, redeemable, rated, listed, non-convertible debentures of face value of Rs 1,00,000 each (NCDs) for an amount aggregating up to Rs 250 Cr with a green shoe option of up to Rs 250 Cr total aggregating up to Rs 500 Cr in one or multiple series, in dematerialised form, through private placement, as per a stock exchange filing.
Nov 05, 2024, 7:54 am IST
Market Outlook By Vinit Sambre, Head – Equities, DSP Mutual Fund
The markets have recently corrected by around 9-10%, with certain sectors like PSUs, engineering, and auto experiencing even sharper declines. The market had been on a strong upward trajectory, fueled by continuous earnings growth, but results for the September quarter have fallen short of expectations, leading to earnings downgrades. This disappointing performance is primarily due to reduced government spending and slow consumption growth.
Notably, urban consumption, which had previously remained resilient, is now also showing signs of slowing—adding to the pressure, especially as lower- to middle-income households have already been under stress. Heavy rains have been partly blamed for the slowdown, making it crucial to monitor the pace of recovery. If growth fails to pick up, it could pose further risks to both earnings and market performance.
Additionally, Foreign Institutional Investors (FIIs) have recently recorded the highest monthly outflows, which domestic investors are currently absorbing. Our base case outlook is that markets may experience some additional weakness in the near term, but we anticipate a potential recovery after the Maharashtra election and with the onset of the festive season in October, which could boost consumption. Populist policies in some states due to upcoming state elections may also provide a lift to spending. The next two quarters will be key in setting the direction for the markets, with added volatility from the U.S. election expected to ease soon.
Nov 05, 2024, 7:45 am IST
Bank Nifty Prediction Today
“The index formed a bearish candlestick, with both the open and high remaining the same. Nifty Bank is positioned below its 10, 20, and 50-day moving averages, indicating a bearish undertone. The daily RSI remains below the critical 50 threshold, The expanding daily Bollinger Bands indicates an increase in volatility, which could lead to a short-term downward bias. The immediate support remains at 50,500, with resistance at 51,850,” said Om Mehra.
Nov 05, 2024, 7:45 am IST
Nifty Prediction Today
“The daily RSI remains in the oversold zone, while the weekly RSI has also dipped below 50, indicating weakening momentum. The trend becomes more fragile as the 10 DMA crosses over to the 20 DMA. Although a relief rally is anticipated in Nifty, resistance remains at 24,350 and 24,450. The support is placed at 23,750, with more substantial support around the 200 DMA near 23,500,” said Om Mehra, Technical Analyst, SAMCO Securities.
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