Despite mixed global signals, Indian markets opened on a positive note on August 26, with the Nifty hovering around the 24,900 mark. The Sensex climbed 208.93 points or 0.26% to reach 81,295.14, while the Nifty gained 52.80 points or 0.21% to settle at 24,876.
Market breadth was positive, with 2,041 shares advancing, 617 declining, and 154 remaining unchanged. ONGC, Tech Mahindra, Wipro, Hindalco Industries, and TCS were among the top gainers, while Apollo Hospitals, ITC, SBI Life Insurance, Dr. Reddy's Labs, and Grasim Industries lagged.
The upcoming week also holds significance for Indian markets due to the expiry of the August futures and options (F&O) series for both the Nifty and the Nifty Bank indices. The Nifty has exhibited volatility throughout this series, but as of Friday's close, it remained virtually flat, just 10 points below the July expiry close of 24,834. Both the Nifty and Nifty Bank ended the past week with gains of around 1%, reflecting a cautious but positive sentiment.
In addition to the market movements, changes were announced regarding the Nifty 50 index. Trent, a Tata Group multibagger that has skyrocketed 20 times since its Covid-19 lows, is set to join the prestigious index alongside state-run Bharat Electronics. These companies will replace Divi's Laboratories and LTIMindtree, which will move to the Nifty Next 50 or Nifty Junior index.
Furthermore, the latest additions to the FTSE All World Index were also announced, bringing in names like the Bank of Maharashtra, Bharat Dynamics, and Central Bank of India, among others. These changes, set to take effect from September 23, 2024, highlight the growing recognition of Indian companies on the global stage.
LIVE Feed
Aug 26, 2024, 2:00 pm IST
Equilateral Enterprises Ltd Appoints A New Chief Financial Officer
The Board of Equilateral Enterprises Ltd considered and approved the appointment of Ms. Payal M Jani as the Chief Financial Officer of the Company with effect from 26th August, 2024. Ms. Priya is a Post graduate holding a degree in Commerce, having experience in area of Accounting and Finance and the term of appointment shall commence from August 26, 2024 and shall continue until her resignation.
Aug 26, 2024, 1:41 pm IST
GRM Overseas Limited Launches 10x Ventures, A Digital-First New Age Platform
GRM Overseas Limited, a prominent name in India's FMCG sector, proudly announces the official launch of its new strategic platform, 10X Ventures. This innovative platform is poised to drive growth by investing in Digital-First New Age D2C brands, Lifestyle brands, smaller portfolio brands, and incubator opportunities. 10X Ventures will capitalize on GRM's expansive infrastructure and entrepreneurial spirit to bolster net sales and margin growth. Mr. Atul Garg, MD said “ The launch of 10X Ventures marks a pivotal step in our ongoing commitment to innovation and leadership in the FMCG sector. Our vision is to become a blended house of brands company, seamlessly integrating the strengths of traditional FMCG with the agility of e-commerce aggregators and roll-up models. This strategic approach allows us to stay at the forefront of industry trends while meeting the evolving needs of our consumers.”
Aug 26, 2024, 1:13 pm IST
Ultramarine Pigments Limited Gets Upgraded Credit Ratings By ICRA
Ultramarine Pigments Ltd has obtained a reaffirmation of the credit rating from ICRA. ICRA has reaffirmed the long-term rating [ICRA] A+ to the Company's long-term fund-based limits and also reaffirmed the short-term rating of [ICRA] A1+ to a non-fund-based facility. The aforesaid rating(s) will become due for surveillance within one year from the date of the rating communication letter. However, ICRA reserves the right to review and/or, revise the above rating{s} at any time based on new information becoming available, the required information not being available, or other circumstances that ICRA believes could have an impact on the rating(s).
Aug 26, 2024, 12:54 pm IST
Today India Gold Rate Sees No Change Amidst Stable International Demand
India gold prices today for 10 grams of 24-carat are Rs. 73,040/-, which stays the same as the previous day. Yellow metal rates in India today stay stagnant at Rs. 66,950/- per 10 grams as the day earlier. Similarly, the 18-carat gold rate in India today has stayed unchanged since yesterday at Rs. 54,780/- per 10 grams. The MCX Gold Futures maturing in October are today floating around Rs 71,814/-, a rise of 0.05% or Rs 37/- since Friday’s closing. International spot gold rates trade around $ 2,515/- per ounce, rising 0.2% since yesterday’s closing.
NSE Rejig: BEL, Trent To Replace Divi's Lab, LTIM On Nifty 50, Shares Rally; What Will Change From Sept 1?
NSE Indices Rejig: Zero-debt defence giant Bharat Electronics (BEL) and Tata Group-backed retail giant, Trent Ltd are going to enter the Nifty 50 benchmark, which will lead to massive inflows in the two stocks. They are replacing pharma major Divi's Laboratories and L&T Group's LTIMindtree on the 50-scrip benchmark. A host of other stocks have been excluded and included on NSE, which will come into effect from September 1, 2024. All four stocks that are going to see major rejig are in green on Monday, August 26, 2024.
Fischer Medical Ventures Ltd Collaborates With Tech Avant-Garde
Fischer Medical Ventures Ltd (Fischer MV) announced a collaboration with Tech Avant-Garde (TAG), a nation-wide innovative educational solutions provider, to co-implement comprehensive health programs in institutions across India. This strategic partnership that aims to drive holistic healthcare to the Indian student population and their connected communities will enable a healthier and more conducive learning environment. A Follow on project by TAG involves using Fischer MV’s comprehensive screening diagnostics encompassing vital parameters such as eye health, audiology, oral health, mental health, woman health, lung & respiratory health checks will be implemented in phases, to thousands of students from each of the 33,000 schools under the program at least 4 times a year, i.e. over 132 million health screenings will be conducted yearly.
Aug 26, 2024, 11:24 am IST
Rupee Vs Dollar
Indian rupee is trading at 83.86 per dollar in the early trade of August 26, 2024, compared to the previous day's print of 83.814 per dollar. The DXY is losing steam and slipped to a 13-month low as Fed's chair Jerome Powell favours an interest rate cut in September.
Aug 26, 2024, 11:19 am IST
Gold Prices In India Remain Unchanged At The Start Of The week.
As of August 26th 2024, India gold rates for 24-carat gold stands at ₹ 73,040/- per 10 grams while the 22-carat gold is currently at ₹ 66,950/- per 10 Grams
Aug 26, 2024, 11:18 am IST
Raminfo Ltd. Announces Kisan Drones Private Limited; Launching 100+ Stores Across India In Two Years
Raminfo Limited, a BSE-listed company and a leading innovation-led technology solutions-providing company is marking a significant step toward the agricultural sector with the launch of Kisan Drones Private Limited. This initiative is set to revolutionize the agricultural landscape by offering cutting-edge drone services that promise to enhance farming practices and productivity. Kisan Drones Private Limited is designed as a "Drone-as-a-Service" platform, poised to deliver a wide range of benefits to farmers across India. These technologically modern drones will be deployed across agricultural fields, enabling precise field mapping and efficient fertilizer spraying. This technological advancement is expected to significantly boost agricultural output and refine the art of farming, providing farmers with a powerful tool for modern agriculture.
Aug 26, 2024, 10:32 am IST
Exhicon Media Inks A MOU With Perfect-Octave Ltd.
Exhicon Event Media Solutions Limited, has signed the Memorandum of Understanding (“MOU”) with Perfect-Octave Limited on August 26, 2024 for acquisition of 76% of the Equity Stake of the company This acquisition is poised to enhance Exhicon’s capabilities and broaden it’s reach in the live events and corporate video productions. Perfect Octave holds extensive IP’s of non-film music genres, including classical, folk, devotional, and indie music and poised to add considerable top line and bottom-line to the Exhicon’s consolidated financials.
Aug 26, 2024, 10:14 am IST
Rail Vikas Nigam Eyeing Increased Orders Through MoUs/ JVs
As Per Antique Stock Broking Ltd, RVNL has signed multiple MoUs/ JVs and is eyeing for orders to beef up its order book. The Kyrgyzstan project (INR 200 bn+ order size) awaits financial closure. There could be a slight delay in the Vande Bharat project execution, as this order is undergoing scope change, which implies a revision in design, cost. RVNL has investments of INR 25 bn, but as per norms it can reduce its stake below 26% and this is delaying the conclusion of the monetization. The company has reiterated FY25 guidance with flattish revenue on YoY basis, implying growth of 8% over the next three quarters. Its order book at INR 850 bn (4x TTM revenue), which excludes the Vande Bharat order (RVNL’s share of INR 80 bn) continues to provide visibility. The stock trades at an expensive valuation of 66x/ 59x at its FY26E/ 27E EPS.
Aug 26, 2024, 10:04 am IST
Interarch Building Products Makes Bumper Market Debut
Interarch Building Products Ltd. made an impressive entry into the stock market on Monday, August 26, exceeding even the most optimistic pre-listing predictions. The company's shares opened at Rs 1,299 on the NSE, reflecting a 44.33% premium over its IPO price of Rs 900. On the BSE, the stock began trading at Rs 1,291.20, a 43% premium.
Aug 26, 2024, 10:00 am IST
AU Small Finance Bank Sees Rs 804 Crore Stake Transfer In Block Deal
On August 26, a significant block deal took place on the exchanges involving AU Small Finance Bank. Approximately 1.30 crore shares, representing a 1.7% stake in the bank, were traded at a floor price of Rs 630 per share, amounting to a total value of Rs 804 crore.
Aug 26, 2024, 9:42 am IST
Bazaar Style Retail Sets IPO Price Band At Rs 370-389/Share
Kolkata-based Bazaar Style Retail Ltd has set the price band for its upcoming initial public offering (IPO) at Rs 370-389 per share. The IPO is scheduled to open on August 30, with anchor bidding starting on August 29, and will close on September 3. The offering includes a fresh issue worth Rs 148 crore and an offer for sale (OFS) of up to 17.65 million shares by existing shareholders and promoters. At the upper price band, the OFS is valued at Rs 687 crore, bringing the total issue size to Rs 834.68 crore, with a market capitalization of Rs 2,900 crore.
Aug 26, 2024, 9:31 am IST
Market Opens With Gains
Despite mixed global signals, Indian markets opened on a positive note on August 26, with the Nifty hovering around the 24,900 mark. The Sensex climbed 208.93 points or 0.26% to reach 81,295.14, while the Nifty gained 52.80 points or 0.21% to settle at 24,876.
Aug 26, 2024, 9:10 am IST
M&M Penalized Over Input Tax Credit Dispute in Haridwar
Mahindra & Mahindra (M&M) has received a penalty order from the Deputy Commissioner of Hardwar, Sector 6, Haridwar, Uttarakhand. The penalty, amounting to ₹7,49,542, was imposed under Section 73 of the CGST Act, 2017, related to the company's claim of Input Tax Credit (ITC) on invoices from the FY 2019-20, where the supplier reportedly failed to discharge GST liability.
Aug 26, 2024, 8:48 am IST
Oil Prices Rise Amid Middle East Tensions and US Rate Cut Hopes
Oil prices continued to climb on Monday, driven by concerns that the ongoing Gaza conflict could escalate and disrupt oil supplies across the Middle East. Additionally, expectations of imminent US interest rate cuts bolstered the global economic outlook and fuel demand. By 2300 GMT, Brent crude futures were up 37 cents, or 0.5%, at .39 per barrel, while US crude futures increased by 36 cents, or 0.5%, to .19 per barrel.
Aug 26, 2024, 8:47 am IST
GIFT Nifty Signals Upbeat Opening for Indian Markets
Trends on GIFT Nifty suggest a positive opening for the broader Indian market, with the index expected to gain 62 points or 0.25%. Nifty futures were trading near the 24,904.50 level.
Aug 26, 2024, 8:47 am IST
Asian Markets Mixed; Nikkei Drops 1% as Hang Seng Gains 1%"
Asian markets showed a mixed performance on Monday as escalating tensions in the Middle East, with Israel and Hezbollah exchanging strikes, weighed on investor sentiment. Meanwhile, markets also reacted to dovish remarks from U.S. Federal Reserve Chairman Jerome Powell.
Aug 26, 2024, 8:09 am IST
US Market Rallies On Powell Remarks
After the much-anticipated speech by Federal Reserve Chairman Jerome Powell, Wall Street reacted with a strong rally, while Indian markets remained cautious. The Dow Jones Industrial Average surged over 450 points, closing the week with impressive gains. Similarly, the S&P 500 advanced, coming within just 35 points of its all-time high, and the Nasdaq composite surged by over 1.5%. All three major US indices ended the week in the green.
Click it and Unblock the Notifications
Sign in with Google