On August 14, Indian benchmark indices closed slightly higher after a volatile trading session. The Sensex gained 149.85 points, or 0.19%, ending at 79,105.88, while the Nifty rose 4.80 points, or 0.02%, to close at 24,143.80. The market saw mixed movement, with 1,247 stocks advancing, 2,141 declining, and 91 remaining unchanged.
Top performers in the Nifty included TCS, HCL Technologies, Infosys, Tech Mahindra, and BPCL. On the downside, Divis Labs, Hero MotoCorp, Coal India, ONGC, and UltraTech Cement were among the top losers.
Sector-wise, the IT sector outperformed, gaining 1.5%, while all other sectoral indices closed in the red. Capital goods, healthcare, oil & gas, metal, realty, pharma, and media sectors fell between 0.5 and 1%. Both the BSE midcap and smallcap indices declined by 0.5%.
The Indian Rupee ended slightly higher at 83.94 per US Dollar on Wednesday, compared to Tuesday's close of 83.97.
LIVE Feed
Aug 14, 2024, 3:42 pm IST
Market Ends Mildly Higher Amid Volatility
On August 14, Indian benchmark indices closed slightly higher after a volatile trading session. The Sensex gained 149.85 points, or 0.19%, ending at 79,105.88, while the Nifty rose 4.80 points, or 0.02%, to close at 24,143.80. The market saw mixed movement, with 1,247 stocks advancing, 2,141 declining, and 91 remaining unchanged.
Aug 14, 2024, 3:33 pm IST
Arisinfra Solutions Submits DRHP to SEBI for Rs 600 Crore IPO
Arisinfra Solutions Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) as it gears up for an initial public offering (IPO) aimed at raising up to Rs 600 crore. The entire issue will consist of a fresh issue of equity shares, each with a face value of Rs 2.
Aug 14, 2024, 3:21 pm IST
India's Trade Deficit Expands to .5 Billion in July Amid Rising Imports
India's trade deficit increased to .5 billion in July, up from .98 billion in June. Exports fell by 1.5% year-over-year, totaling .98 billion, while imports surged by 7.5%, reaching .48 billion. Services exports were valued at .43 billion, contrasted with services imports of .55 billion.
Aug 14, 2024, 3:14 pm IST
Nazara Technologies Shares Dip Despite 13.2% Rise In Q1 Profit
Nazara Technologies' shares have declined even as the company reported a 13.2% increase in its Q1 profit, rising to Rs 23.6 crore from Rs 20.86 crore year-over-year. However, revenue experienced a slight decline of 1.7%, falling to Rs 250.1 crore from Rs 254.4 crore compared to the previous year.
Aug 14, 2024, 2:56 pm IST
Sun Pharmaceutical to Invest Million in Pharmazz Inc
Sun Pharmaceutical Industries has signed an agreement to invest up to million in Pharmazz Inc., a Delaware-based company. This investment will give Sun Pharma a stake of over 5% in Pharmazz Inc.
Aug 14, 2024, 2:43 pm IST
Nifty IT Index Rallies 1.5% as TCS, Infosys & HCLTech Lead Gains
The Nifty IT index outperformed the 13 major sectoral indices on August 14, surging 1.5% following favorable US economic data. TCS, Infosys, and HCLTech spearheaded the gains in the IT sector. The rally was driven by US data showing a smaller-than-expected rise in producer prices for July, with the Producer Price Index (PPI) for final demand increasing by just 0.1%, compared to economists' expectations of 0.2%. This slight uptick in the PPI, which had risen 0.2% in June, has eased inflation concerns and boosted hopes that the Federal Reserve might soon lower interest rates, enhancing market sentiment.
Aug 14, 2024, 2:38 pm IST
Swan Energy To Sell Key Asset Of Subsidiary Triumph Offshore
Swan Energy's board has given the green light to sell a major asset of its subsidiary, Triumph Offshore. This decision is contingent upon shareholder approval through a postal ballot, the fulfillment of customary closing conditions outlined in definitive agreements, and any necessary regulatory approvals.
Aug 14, 2024, 1:55 pm IST
PC Jeweller Shares Rally 5% After Stellar Q1 Results
PC Jeweller Ltd has marked a significant turnaround in the first quarter of FY25, with its shares surging by 5% following the announcement of robust financial results. The company reported an exceptional increase in domestic sales, rising from Rs 67 crore in Q1 FY24 to an impressive Rs 401 crore in Q1 FY25. This surge is even more noteworthy when compared to the Rs 48 crore in sales recorded in Q4 FY24 and the Rs 189 crore achieved during the entire FY24.
The improved financial performance is reflected in the company's profitability metrics as well. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) saw a dramatic turnaround, soaring to Rs 89 crore in Q1 FY25 from a loss of Rs 42 crore in the same period last year. Operating profit also reached Rs 49 crore in Q1 FY25, marking a significant recovery.
Aug 14, 2024, 1:41 pm IST
Nykaa Shares Gain 6% On Strong Q1 Results; Net Profit Jumps 150% YoY
Nykaa, the beauty and personal care giant under FSN E-Commerce Ventures, delivered an impressive financial performance for the quarter ended June 2024, sending its shares soaring by 6% on Wednesday on the Bombay Stock Exchange (BSE). The stock hit a day's high of Rs 197.35, reflecting the market's positive reception to the company's robust earnings report. Nykaa's net profit skyrocketed by a staggering 152% year-on-year (YoY).
Nykaa reported a net profit of Rs 13.64 crore for Q1 FY2024, a leap from the Rs 5.42 crore it posted in the corresponding quarter of the previous year. This growth was underpinned by a 23% increase in revenue from operations, which stood at Rs 1,746.11 crore, up from Rs 1,421.82 crore in Q1 FY2023.
Aug 14, 2024, 1:15 pm IST
RBL Bank Announces Vijay Fixed Deposits To Honor 78th Independence Day
RBL Bank announced a special "Vijay Fixed Deposits" edition to commemorate India's 78th year of independence. For deposits below Rs 3 crore, the "Vijay Fixed Deposits" feature a special 500-day tenor.
"This limited-period offer pays tribute to the courage and sacrifices of our brave soldiers while providing exceptional financial benefits," RBL Bank said in a statement.
The special fixed deposit plan offers competitive interest rates with 8.85% p.a. for super senior citizens, 8.60% p.a. for senior citizens, and 8.1% p.a. for regular customers, all tailored to guarantee your money grows safely.
Aug 14, 2024, 12:48 pm IST
Starbucks Corp Shares Jump 24% As Laxman Narasimhan Steps Down As CEO, Brian Niccol Takes Over
Starbucks Corporation, the world's largest multinational coffee chain, witnessed a historic surge in its stock, with shares skyrocketing by 24%-marking the company's biggest intraday gain on record. This boost, which added over billion to its market capitalization, came on the back of a major leadership announcement. Starbucks revealed that Brian Niccol, the CEO of Chipotle Mexican Grill Inc., will be stepping in as its new Chief Executive Officer (CEO), replacing Laxman Narasimhan, who has stepped down just over a year after taking on the role.
The news of Narasimhan's abrupt departure sent ripples through the business world. The 57-year-old executive, who had been at the helm of Starbucks since March 2023, is stepping down from his role as CEO and member of the Starbucks board "with immediate effect."
Aug 14, 2024, 12:28 pm IST
Vedanta Stock Jumps On Plans To Divest Stake In Hindustan Zinc
On August 14, Vedanta's stock witnessed an uptick of 1.5%, a reflection of investor optimism following the company's decision to divest a 2.6% stake in its subsidiary, Hindustan Zinc. This strategic move, aimed at raising capital through an offer-for-sale (OFS), was met with mixed reactions from the market. While Vedanta's stock benefited from the announcement, Hindustan Zinc's shares tumbled by more than 2%, signalling investor concerns over the partial stake sale.
By 10:20 am, Hindustan Zinc's shares were trading more than 2% lower at Rs 566.55 on the NSE, while Vedanta's stock was trading nearly 1% higher at Rs 426 per share. This divergence in stock performance reflects the differing investor sentiments surrounding the news. On one hand, Vedanta's investors seemed buoyed by the potential reduction in debt, while on the other, shareholders of Hindustan Zinc appeared wary of the implications of the parent company's stake reduction.
Aug 14, 2024, 12:24 pm IST
Gold Prices Fall In India, Aug 14: 22k/100 Grams Yellow Metal Slips By Rs 1000
Gold prices in India today recorded decline after witnessing gain for several days as traders are keenly looking forward to US inflation report to be declared later in the day that may set the tone for Federal Reserve’s upcoming September policy meeting. 22k gold prices today fell by Rs 100 to Rs 65,550/10 grams and 100 grams of 22 carat yellow metal prices today slipped by Rs 1000 to Rs 6,55,500 on Wednesday. 24k gold prices today declined by Rs 110 to Rs 71,510/10 grams and 100 grams of 24 carat yellow metal prices today turned cheaper by Rs 1100 to Rs 7,15,100 on August 14, 2024.
Meanwhile, 18k gold prices today stood at Rs 53,630/10 grams after decline of Rs 90 and 100 grams of 18 carat precious metal prices today fell by Rs 900 to Rs 5,36,300.
Spot Gold, Spot Silver Prices Today: Spot gold declined 0.2% to ,460.87 per ounce, as of 0327 GMT. Prices touched a record high of ,483.60 in July. U.S. gold futures slipped 0.3% to ,500.30. Spot silver dipped 0.6% to .68, platinum shed 0.5% to 1.73. Palladium gained 0.1% to 9.25 after touching its highest level since July 24 in the previous session, according to Reuters.
Aug 14, 2024, 11:52 am IST
Manmohan Singh Joins Angel One As Group Chief Risk Officer To Strengthen The Group’s Risk Management
Angel One Ltd, announced the joining of Manmohan Singh as Group Chief Risk Officer. Angel One considers risk management essential to proactively identify and address potential threats and vulnerabilities that could impact the organization. In this role, Manmohan will be instrumental in shaping and implementing the company's risk management strategy. His appointment accentuates Angel One’s dedication to enhancing its risk management framework and insulating its operations from emerging risks and challenges.
Aug 14, 2024, 11:29 am IST
Gold Prices Decline In India on Aug 14
Gold prices in India today recorded decline after witnessing gain for several days as traders are keenly looking forward to US inflation report to be declared later in the day that may set the tone for Federal Reserve's upcoming September policy meeting.
How Robust Domestic Economy Propels Indian Equity Markets To New Highs?
India's equity markets have soared to record highs, with the NIFTY up 10.9% year-to-date (YTD), outperforming global counterparts, due to strong economic growth, controlled inflation and robust domestic liquidity. The continuity of the central government, whose recent budget focused on narrowing the fiscal deficit and boosting agriculture and employment, has bolstered investor confidence.
Piccadilly Agro Industries Ltd Shows Strong Growth In Profitability In Q1 FY 24-25
On standalone basis, company reported a total income of Rs. 209 Cr. in Q1 FY 24-25. Significant increase in distillery vertical revenue, primarily driven by growth in alcobev brands including Indri Single Malt Whisky. Premium alcobev brands have achieved a significant increase of 36% in sales volume as compared to Q1 of FY 23-24. Indri witnessed an outstanding sales volume growth to 24,733 cases (9 Litre cases) in Q1 FY 24-25 from 7,371 cases (9 Litre cases) in Q1 FY 23-24, an increase of 236% Y-o-Y. Sugar vertical witnessed a de-growth as sales were lower due to the seasonal nature of the industry and reliance on the department's quota releases. Due to increase in sales volume in alcobev brands sub-vertical, EBITDA margin increased to 13.7% in Q1 FY 24-25 from 10.9% in Q1 FY 23-25, witnessing a 279 bps. PBT margin increased to 9.6% in Q1 FY 24-25 from 6.7% in Q1 FY 23-24. EPS increased to Rs. 1.5 in Q1 FY 24-25 from Rs. 1.2 in Q1 FY 23-24; 27% increase Y-o-Y. The 2nd half of the financial year is the key period for whisky sales as the summer gets over and the company expects to increase sales exponentially in the later half of the financial year.
Aug 14, 2024, 10:42 am IST
Black Box Delivers Robust PAT Growth Of 55% YoY
Black Box Limited, announced its unaudited financial results for the quarter ended 30th June 2024. Hold up in decision making, leading to delayed project execution, thereby impacting revenue. Pipeline continues to swell, order book increased to US$ 475 million as at June 30, 2024. Continue to exit low value and non-accretive customers. Emphasis on margin and enhanced productivity continues to generate positive outcomes. EBITDA increased by 28% YoY to Rs. 115 Crs. and EBITDA margins improved by 240 bps YoY to 8.1% , marching towards FY25 exit at 9% EBITDA margin.
Aug 14, 2024, 10:24 am IST
Bitcoin Surges To USD 60,000, Increasing Political And Institutional Interest
Shivam Thakral, CEO of BuyUcoin, India’s second-longest-running digital asset exchange: Bitcoin's surge to ,000 was driven by favorable political developments and increasing institutional interest. The approval of Bitcoin exchange-traded funds (ETFs) and a notable increase in stablecoin volumes drive this trend. The ongoing institutional adoption and regulatory clarity will likely bolster investor confidence and drive further growth.
Bitcoin's dominance has climbed to 56.29%, reflecting a 0.35% increase from yesterday, showcasing its continued strength in the market. The global crypto market has surged to .14 trillion, marking a 2.89% increase in just 24 hours.
Aug 14, 2024, 9:57 am IST
What is driving Market?
Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services: The PPI inflation numbers from the US indicate softening of inflation, and a confirmation of this declining trend is likely from the CPI numbers coming today. The US market moved up yesterday in anticipation of this and a rate cut by the Fed in September. If the rate cut is by 50bp, the US market will remain resilient lending support to global markets. This is the likely scenario. On the other hand, if the Fed disappoints with no rate cut, the market will sell off and this will have repercussions globally. In India the pattern of FII selling on valuation concerns and DII buying supported by money flows continues. Some segments like defence related stocks which have run far ahead of fundamentals are witnessing corrections. Financials continue to be under pressure on concerns arising from rising costs of deposits. For long- term investors, quality banking stocks offer value.
Aug 14, 2024, 9:36 am IST
Rupee In Opening Bell
Rupee opens at 83.91 against dollar ahead of the US inflation data earlier today. The local currency was close to its previous day's print of 83.97 per dollar.
Aug 14, 2024, 9:29 am IST
Stocks In Gains And Losses
The trend in sectoral indices were mixed. Stocks like HCL Tech, M&M, Tech Mahindra, SBI, and NTPC were top gainers. While Ultratech Cement, ICICI Bank, Adani Ports, Axis Bank and HUL were top bears.
Aug 14, 2024, 9:29 am IST
Nifty Price Today
Nifty opened higher at 24,184.40, which was also near its intraday high of 24,196.50. While its intraday low is at 24,130.30.
Aug 14, 2024, 9:29 am IST
Sensex Price Today
Sensex opened higher at 79,065.22, and soon touched an intraday high of 79,100.95, while its intraday low is at 78,955.88.
Aug 14, 2024, 9:06 am IST
Nifty In Short Term
Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates: On the daily scale, the index formed a bearish Marubozu candle and broke the support of the 34-Day Exponential Moving Average (DEMA) around 24,230, signaling weakness. As long as the index remains below 24,230, the downward pressure is likely to continue. On the downside, the 50-DEMA provides support near 24,020, making the 24,000-24,020 range a critical support zone for Nifty in the short term.
Aug 14, 2024, 8:43 am IST
Vedanta, Hindustan Zinc stocks in focus
Vedanta Limited has made a big announcement on August 13. This billionaire Anil Agarwal-backed company has received approval for 2.60% stake sale in its zinc-subsidiary Hindustan Zinc (HZL) which is also listed on exchanges. Both Vedanta and HZL shares will be in focus accordingly.
Aug 14, 2024, 8:23 am IST
Support And Resistance
Shiju Koothupalakkal - Technical Analyst at Prabhudas Lilladher sees Nifty to have support and resistance at 24,000 and 24,300 respectively. While Bank Nifty index is likely to have support and resistance at 49,300 and 50,300 respectively.
Aug 14, 2024, 8:15 am IST
Market Previous Day
Indian equity markets faced a substantial decline on Tuesday, with the Sensex plummeting by 693 points and the Nifty dropping below the 24,150 mark. The day saw the Sensex closing at 78,956 and the Nifty at 24,139, marking a significant downturn from the previous trading session.
Click it and Unblock the Notifications
Sign in with Google