Sensex ended the day with the gain of 256 points to 85,169 and Nifty surged 63 points to 26,004 on Wednesday, September 25, 2024. Nifty Bank zoomed 133 points to 54,101 and Nifty Midcap fell 385 points to 60,465 on September 25, 2024. FMCG major Dabur India Ltd share today witnessed sharp decline of 4.34% on BSE. Current market price of Dabur India shares on BSE is Rs 626.40 apiece as the stock slipped 6.65% from 52-week high price of Rs 672.00 per share. Power and realty shares witnessed rally in trade today.
Earlier, Sensex & Nifty traded flat on Wednesday, taking a breather after a series of record-breaking highs. Investors adopted a cautious stance, awaiting further clarity on the U.S. economy's resilience in the wake of a recent decline in consumer confidence. At 11:45 AM, the Sensex was up slightly at 84,918, while the Nifty was down marginally at 25,921. Active stocks included Easy Trip, Reliance Power, HDFC Bank, Power Grid Corp, and Vedanta.
Sectorally, Auto, Pharma, FMCG, and PSU Bank were down, while Metal, Realty, Energy, Infra, and Media outperformed. The broader market also weakened, with midcap and smallcap indices falling by 0.56% and 0.18%, respectively indicating cautious investor sentiments.
Earlier, Benchmark mark indices opened in red tracking mixed global cues. Nifty opened near the 25,900 mark while Sensex opened 150 pts lower at 84,836.45. On the Nifty index, Power Grid, M&M, Hindalco Industries, Eicher Motors and HDFC Bank were the top gainers whereas Tech Mahindra, Asian Paints, Tata Consumer Products, HCL Tech and LTIMindtree were the top losers.
Asian markets mostly stayed in the range bound, although the Hang Seng climbed more than 2% as China announced an extensive stimulus plan. On top of that, geopolitical challenges, notably the crises in the Middle East and the current Russia-Ukraine war will have an influence on the marketplaces and consequently, investors should stay cautious.
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Sep 25, 2024, 3:34 pm IST
ADS Diagnostic Ltd Shares Hit 5% Upper Circuit
ADS Diagnostic Ltd shares today hit 5% upper circuit on BSE. Current market price of ADS Diagnostic shares on BSE is Rs 11.34 per share with gain of 5.00% in trade today. The company has a market capitalisation of Rs 2.55 crore. Its ROE is 31.24 and PE is 1.32. The company had recommended a final dividend of Re 0.12 per equity share of Rs 10 each. Today it has fixed September 30, 2024 as the record date for final dividend of Re 0.12 per share. The company will hold its AGM on September 28, 2024. Check key details below:
ADS Diagnostic Sets Record Date For Final Dividend: As per the exchange filing of ADS Diagnostic dated September 25, 2024, “We would like to bring to your kind attention that in the said Board Meeting, the Board of Directors of the Company declared a final dividend of Rs. 0.12 (12%) per equity share of Rs. 10 each, Dividend amount 1.2, subject to approval by the shareholders at the ensuing Annual General Meeting (AGM). Please note that the Company has now decided that the record date for the purpose of determining the eligibility of shareholders for the final dividend shall be 30th September 2024.”
Sep 25, 2024, 3:28 pm IST
Aditya Birla Renewables raises Rs 2,500 crore through NCDs
Aditya Birla Renewables Ltd (ABReL) has raised Rs 2,500 crore from markets through allotment of non-convertible debentures on a private placement basis. ABReL is a subsidiary of Aditya Birla group firm Grasim. The company allotted 2,50,000 unsecured, listed, rated, redeemable NCDs of face value of Rs 1 lakh each on September 24, 2024, Grasim Industries said in a filing. The Rs 2,500 crore includes base issue size of Rs 2,000 crore and a green shoe option to retain oversubscription of up to Rs 500 crore, according to a PTI report. The NCDs have coupon rate of 8.6 per cent per annum and would mature on September 24, 2027. Founded in 2011, ABReL is a leading provider of solar, wind, and hybrid power solutions to public and private-sector customers across India. It has implemented 50 renewable projects across nine states.
Sep 25, 2024, 3:01 pm IST
India's Foodgrain Production Touches Record 332.22 Mn Tonne In 2023-24
India's foodgrain production reached a record 332.22 million tonne in the 2023-24 crop year ended June, driven by bumper wheat and rice output, the agriculture ministry said on Wednesday. The final estimate for 2023-24 shows an increase of 2.61 million tonne from the previous year's 329.6 million tonne, the ministry said in a statement. Rice production touched a record 137.82 million tonne, up from 135.75 million tonne in 2022-23, according to a PTI report. Wheat output also hit a high of 113.29 million tonne as compared to 110.55 million tonne the previous year. However, pulses production declined to 24.24 million tonne from 26.05 million tonne and oilseeds output fell to 39.66 million tonne from 41.35 million tonne.
Sep 25, 2024, 2:32 pm IST
Dabur India Shares Fall 4.48%
FMCG major Dabur India Ltd share today witnessed sharp decline of 4.34% on BSE. Current market price of Dabur India shares on BSE is Rs 626.40 apiece as the stock slipped 6.65% from 52-week high price of Rs 672.00 per share. Meanwhile, Dabur India share gained 20% in last 6-months. Earlier, the company informed on September 24, 2024 about its upcoming meeting of Board of Directors scheduled to be held on October 30 to consider financial results and interim dividend. The company’s market capitalisation stood at Rs 1,11,017.58 crore. Check key details below:
Dabur India To Consider Financial Results, Dividend: As per the exchange filing of Dabur India dated September 24, 2024, “Pursuant to provisions of Regulations 29 and 50 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, the 30th October 2024 to inter alia, consider and approve the unaudited financial results for the quarter/half year ending on 30th September 2024 and to consider declaration of interim dividend on the equity shares of the Company for the Financial Year 2024-25.”
Sep 25, 2024, 2:24 pm IST
Gold Price Surges In India: Sharp Rally In Gold Prices For 3rd Day In A Row, Silver Prices Dip
Gold prices in India hit new high yet again for 3rd consecutive day today amid weaker dollar and soaring tensions in Middle East. Meanwhile, traders are gearing up for more cues on the interest rate trajectory from US Federal Reserve. 22K gold price today witnessed sharp surge of Rs 600 to settle at Rs 70,600/10 grams and 100 grams of 22 carat precious metal turned dearer by Rs 6000 to Rs 7,06,000 in India on September 25, 2024. 24k gold prices today zoomed to new high of Rs 77,020/10 grams after gain of Rs 660 and 100 grams of 24 carat yellow metal priced rose by Rs 6600 to Rs 7,70,200.
According to Dr. Renisha Chainani, Head Research - Augmont - Gold For All, “investors have flocked to gold as a safe-haven asset in response to the Fed's policy change and deteriorating economic conditions, pushing the price to an all-time high of 94 (~Rs 75900). According to the Conference Board's newest poll, consumer confidence fell by 6.9 points, marking the greatest monthly loss in three years.”
Sep 25, 2024, 1:57 pm IST
JTL Industries Signs Investor Relations Agreement with Ernst & Young
On September 24, 2024, JTL Industries announced the signing of an Investor Relations Support Service Agreement with Ernst & Young LLP to enhance its investor relations efforts.
Sep 25, 2024, 1:57 pm IST
Shriram Properties Unveils New Apartment Project in Chennai
Shriram Properties has officially launched a new venture dubbed ‘Codename - Pudhiya Chennai,’ a premium apartment project located in the lively Thirumazhisai area of Chennai.
Sep 25, 2024, 1:32 pm IST
HEG Shares Surge 10% Following Record Date Announcement for Stock Split
HEG Limited's stock soared nearly 10% in morning trade on September 25 after the company announced October 18 as the record date for the upcoming stock split. Following this announcement, the shares rose by 9.86% to Rs 2,537 on the National Stock Exchange (NSE).
Sep 25, 2024, 1:32 pm IST
Mukta Arts Signs Assignment Agreement with Zee Entertainment for Film Rights
Mukta Arts has entered into an Assignment Agreement and Term Sheet with Zee Entertainment Enterprises, granting satellite and media rights for 37 of its films for a six-year period starting from August 25, 2027. The deal is valued at 25% more than the previous agreement.
Sep 25, 2024, 12:38 pm IST
KEC International Shares Rise 3% Following Launch of QIP Issue
RPG Group's KEC International initiated its Qualified Institutions Placement (QIP) issue on September 24, setting the floor price at Rs 976.64 per share.
Sep 25, 2024, 12:37 pm IST
Bandhan Bank Shares Decline Following Resignation of Chief Audit Executive
Ravi Lahoti, the Chief Audit Executive of Bandhan Bank, has opted to explore new opportunities and has consequently submitted his resignation, as per a letter dated September 23, 2024.
Sep 25, 2024, 11:47 am IST
Airtel Launches India’s First AI-Powered Network Solution For SPAM Detection
Bharti Airtel today, launched India’s first network-based, AI-powered spam detection solution that will significantly solve the issue of spam calls and messages for its customers. A first-of-its-kind solution by a telecom service provider in the country, the tool will alert customers in real-time to all suspected spam calls and SMSes. The solution is free of cost and will get auto-activated for all Airtel customers without them having to raise a service request or download an app. Gopal Vittal, Managing Director and Chief Executive Officer, Bharti Airtel said, “Spam has become a menace for customers. We have spent the last twelve months to solve this comprehensively. Today marks a milestone as we launch the country’s first AI-powered spam free network that will shield our customers from the continuous onslaught of intrusive and unwanted communications”.
Sep 25, 2024, 11:26 am IST
Biocon Biologics Announces New Dermatology Data To Be Presented At EADV Congress 2024
Biocon Biologics Ltd (BBL), a subsidiary of Biocon Ltd, today announced new dermatology data presented at the European Academy of Dermatology and Venereology (EADV) 2024 Congress in Amsterdam. The results from two separate pivotal Phase 3 clinical studies supported interchangeability between adalimumab and adalimumab-fkjp as well as underscoring biosimilarity of bUstekinumab. Uwe Gudat, M.D., Chief Medical Officer, Biocon Biologics said, “The extensive range of new data being presented at EADV this year underscores Biocon Biologics’ commitment to a high-science portfolio of biosimilar medicines that meet the clinical needs of physicians and patients while providing important sustainability benefits to health systems. These clinical studies support the interchangeability of adalimumab-fkjp at low-concentration with high-concentration adalimumab and ustekinumab biosimilarity without variation of clinical outputs in patients with chronic plaque psoriasis.
Sep 25, 2024, 11:08 am IST
Multibagger IT Stock Hits 5% Upper Circuit On Getting ISO Certifications
Blue Cloud Softech Solutions Ltd, a small-cap IT company, began trading on Wednesday at Rs 168.20 a share, with a 5% upper circuit limit. The previous five sessions have seen the stock reaching continuous upper circuits. Blue Cloud Softech Solutions Limited, a top supplier of IT solutions, said on Tuesday that it had received ISO 9001-2015 and ISO 27001-2022 certifications, further demonstrating its dedication to quality assurance, information security, and service excellence.
DeltaCorp Stocks Up 10% After Demerger Announcement
Delta Corp's stock price surged by 10% on Wednesday, September 25th, following the company's announcement of plans to demerge its hospitality and real estate division. The company's board of directors approved a Composite Scheme of Arrangement, which will separate these businesses into a new, independent entity.
Sep 25, 2024, 10:33 am IST
Snowman Logistics Limited Announces CEO Appointment
Snowman Logistics Limited today announced that Mr. Padamdeep Singh Handa appointed as Whole Time Director under the category of Additional Director & Chief Executive Officer of the Company, designated as Key Managerial Personnel of the Company with effect from 01 December, 2024.
Sep 25, 2024, 10:24 am IST
Gold Prices In India At New All-Time High, 24/10 Grams Crosses Rs 77,000
India gold rates have reached new highs today, with 24-carat gold selling for Rs. 77,020/- per 10 grams and 22-carat gold selling for Rs. 70,600/- per 10 grams.
ECOS Mobility Reports 15% YoY Growth In Total Revenue
ECOS (India) Mobility & Hospitality Limited today announced its unaudited financial results for the quarter ended June 30th, 2024. Revenue from Operations was ₹1,489 Mn for Q1 FY25 compared to ₹1,306 Mn in Q1 FY24, a year on year growth of nearly 14% EBITDA (excluding other income) stood at ₹207 Mn for Q1 FY25 compared to ₹220 Mn during Q1 FY24 EBITDA Margin subdued by 3 bps to 13.9% in Q1 FY25 as against 16.9% in Q1 FY24. This decline was mainly on account of investment in manpower and increase in other costs PAT remained almost flat at ₹135 Mn for Q1 FY25 compared to ₹139 Mn in Q1 FY24
Sep 25, 2024, 9:39 am IST
Uno Minda Shares In Focus
At a valuation price of Rs. 0.65 per equity share, Uno Minda Limited has bought 23905819 equity shares, or 30% stake in Minda Onkyo India Private Limited (MOIPL), from M/s. Onkyo Sound Corporation, Japan, for a total payment of Rs. 1,53,20,000/-. Following this transaction, the corporation's stake in MOIPL has grown to 80%, and MOIPL is now a subsidiary of Uno Minda Limited.
Sep 25, 2024, 9:01 am IST
Market Outlook Today By Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
The Chinese monetary stimulus measures lifted the Chinese and Hong Kong markets yesterday and if the rally continues it is possible that FIIs will move more funds to invest in these markets which are highly attractive on valuations. In India metal stocks rallied in response to the Chinese stimulus measures.
It remains to be seen whether the Chinese monetary stimulus will have an enduring positive impact since China’s economic woes are structural and difficult to address through a monetary stimulus. It is more likely that the positive sentiments now being felt may soon dissipate and weaken.
The gush of domestic liquidity, which is the main driving force behind the rally in India, is likely to keep the market resilient. If Nifty is to go past 26000 decisively and sustain there, it has to be led by the Bank Nifty. There is more steam in this segment.
Sep 25, 2024, 8:31 am IST
Motilal Oswal Financial Services Shares In Focus
At its meeting on Tuesday, September 24, 2024, Motilal Oswal Financial Services approved a proposal to pick up 5,00,000 fully paid-up equity shares of Gleiten Tech Private Limited, with a face value of Rs. 10 per share, for a consideration of Rs. 50,00,000, which represents 100% equity stake of Gleiten Tech's issued and paid-up capital.
Sep 25, 2024, 8:02 am IST
Nifty Prediction Today By Osho Krishan, Senior Analyst - Technical & Derivatives, Angel One Ltd
The bulls succeeded in upholding their positive stance, yet the emergence of small-bodied candlesticks hinted at a sense of indecision. Given the current scenario, with technical and derivative metrics displaying highly overbought conditions, it is prudent to refrain from aggressive bets and instead keep booking profits at elevated levels. Technically, as we merely saw any change on closure, but surprising intraday blips cannot be ruled out. On the level-specific front, the 26000 mark withholds the formidable barrier to the ongoing momentum, and a decisive breakthrough could only trigger the next leg of the rally towards 26200, marking a sustained uptrend. On the lower end, 25900-25800 is likely to cushion any shortcomings, while strong support lies around 25750-25700 in the comparable period. Sectoral rotation is quite evident in the market, and accordingly, one needs to monitor momentum for outperformance. Furthermore, favorable global developments are expected to bolster and drive momentum in our markets, so it is essential to remain vigilant.
Sep 25, 2024, 8:00 am IST
Fundamental Outlook of Market
Fundamentally the markets should deliver 12-15% returns per annum and therefore we expect 18-24 months for markets to get to these levels. However, there is a strong buying momentum in the market that is fueled by strong liquidity. In such a scenario markets can overextend. Which means that we may see the 100k number shortly, said Vaibhav Porwal, co-founder, Dezerv.
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