Jan 29, 2024, 5:17 pm IST
Sensex, Nifty Closing
The Sensex soared by 1,241 points, closing at 71,942, while the Nifty climbed 385 points to reach 21,738.
Jan 29, 2024, 3:26 pm IST
Yellow Metal & White Metal In India Shines After Three Days of Stagnancy
India Gold Prices today have taken a breather in green after stagnancy of three days consecutively. The cost of 24-carat gold is Rs. 63,050/- per 10 grams, while Rs. 57,800/- for 10 grams of 22-carat gold metal. Similarly, 18-carat gold metal has risen to Rs. 47,290/- per 10 grams. The prices remain 1.86% lower than the record-high prices posted last month. The MCX Gold futures maturing next month are trading around Rs. 62,213/- while US Spot Gold currently holds a grip at $ 2,030/- per ounce. International gold has surged a little amidst uncertain sentiments in capital markets and the Middle-Eastern war escalating with the death of three US soldiers on the Israeli border. Silver rates today in India are 76,200/- per kg.
Jan 29, 2024, 3:04 pm IST
Adani Green Energy Share Price
Adani Group-backed Adani Green Energy is in focus on Monday ahead of its Q3 results for FY24. Ahead of the earnings, Adani Green is trading just a few rupees away from its 52-week high levels. The company is also focused on completing funding of the reserves for the 0 million Holdco bond.
Jan 29, 2024, 3:03 pm IST
2 Adani Cash-Cows Near 52-Week Highs
Two cash-cow Adani Group-backed stocks are on a bull ride during January 29th trading session. The reason will be the upcoming Q3 results for FY24 due later this week. Adani stocks will broadly be trending as they have started to announce their earnings report one by one. Both the stocks have rallied between 5-7% so far in the day.
These are Adani Enterprises the flagship company of Gautam Adani's conglomerate, and Adani Ports which was among the few Adani stocks to defy Hindenburg report and bag massive global investors fund in 2023.
Jan 29, 2024, 2:05 pm IST
Paramount Communications Shares Hit Upper Circuit As Board Approves Conversion Of Warrants
Small cap company operating in Cables-Electricals industry, Paramount Communications Ltd shares hit 5% upper circuit today after its board of directors on January 25, 2024 gave nod to conversion of warrants into equity shares. Current market price of Paramount Communications shares on BSE is Rs 115.57 apiece with intraday gain of 5.00%. Paramount Communications shares zoomed 205% in last 6-months only and offered return of 104% in last 3-months.
Jan 29, 2024, 1:32 pm IST
Salasar Techno Shares Hits 10% Upper Circuit On Bonus Update
Small Cap company operating in Industrial Products sector Salasar Techno Engineering (STEL) shares hit 10% upper circuit in trade today after the company informed via its BSE filing about its upcoming meeting of Board to make the allotment of Bonus Shares to all the eligible shareholders. The meeting of Board of Directors will take place on February 3, 2024 to consider and approve financial results along with allotment of bonus shares. Salasar Techno Engineering shares rallied 101% in last 1-month only and zoomed 193% in last 1-year only.
Jan 29, 2024, 1:00 pm IST
Ola Founder’s Krutrim Emerges As First Billion Indian AI Startup
Krutrim, the artificial intelligence (AI) startup initiated by serial entrepreneur Bhavish Aggarwal, has accomplished unicorn status after the positive funding round that secured million from leading investors, that included Matrix Partners India.
In a latest blog post, the company declared its brand-new status as the first Indian AI startup to achieve a billion-dollar valuation, an extraordinary achievement achieved within a month of unveiling a large language model.
The startup, aptly named Krutrim, translating to "artificial" in Sanskrit, is not only focusing on advancing AI language capabilities but is also delving into the development of data centres. The ultimate goal is to create servers and supercomputers tailored to the evolving needs of the AI ecosystem, according to a report published in Business Today.
Jan 29, 2024, 1:00 pm IST
Sinclairs Hotels Hits 52-Week High On Ex-Bonus Day, Up 50% In 1-Month
Small cap company from the Hotels & Resorts industry Sinclairs Hotels Ltd shares hit fresh 52-week high in trade today as shares are trading ex-bonus today. The company had fixed January 29, 2024 as the record date for 1:1 bonus issue on January 12, 2024. Last trading price of Sinclairs Hotels shares on BSE is Rs 156.30 per share with intraday rally of 5.11%. Sinclairs Hotels stock offered stunning returns of 50% in just last 1-month only and zoomed 104% in last 3-months. Sinclairs Hotels has a market capitalisation of Rs 801.71 crore.
Jan 29, 2024, 11:55 am IST
Reliance Industries Shares Hit Record High; Market Cap Reaches Close To Rs 19 Lakh Crore
Reliance Industries shares hit a lifetime high on Monday with the company's market capitalisation reaching close to Rs 19 lakh crore mark. RIL shares traded at a new 52-week high value of Rs 2810 today.
Jan 29, 2024, 11:50 am IST
Top 5 Gainers and Losers Today
Source:NSE
Jan 29, 2024, 11:01 am IST
Adani Energy Solutions Gains Over 5% On Incorporating Subsidiary
Shares of Adani Energy Solutions traded 5.62% higher today at Rs 1119.90 per share at 10:56 am IST. The Adani group firm said that it has incorporated a wholly owned subsidiary company in the name of “Adani Energy Solutions Step-Twelve Limited.”
Jan 29, 2024, 10:36 am IST
SJVN Shares Zoom Over 12% On Order Win For 100 MW Solar Project
SJVN shares traded at a new 52 Week High value of 134 on Monday after the company won an auction by Gujarat Urja Vikas Nigam for 100 MW solar project at Rs 2.54 per unit on a build-own and operate basis through a tariff based competitive bidding process.
The stock was up 12.33% at Rs 131.03 per share at 10:31 am IST today.
Jan 29, 2024, 9:55 am IST
DLF Secures 29-Acre Land on Golf Course Extension Road in Gurugram for Rs 825 Crore
DLF has finalized an agreement with bondholders, including Standard Chartered Bank, Singapore Branch, DB International (Asia), Singapore, and Deutsche Investments India. Under the terms of the agreement, the company will acquire bonds for a negotiated sum of Rs 825 crore and assume the associated rights of the bondholders. DLF, either directly or through its affiliates, aims to obtain complete rights and interests in a 29-acre land parcel (Identified Land) with an estimated development potential of up to 7.5 million square feet, following due legal procedures. Notably, 25 acres of the Identified Land are part of the mortgaged property.
Jan 29, 2024, 9:47 am IST
Market Outlook
Aditya Gaggar, Director of Progressive Shares said, "The markets witnessed a reversal trade on 25th January and settled at 21,352.60. The Index was seen trading in a narrow range of 21,200-21,500 and a breakout on either side will provide a proper direction. Considering a Bullish Cypher and strong indication from GIFT Nifty, a breakout on the higher side is very likely. The direction of the market largely depends upon BankNifty and at present, it stands at its long-term trendline support. The immediate support is placed at 44,400 while the higher side is capped at 45,500. From the Auto and Metal segments, Motherson Sumi (Flag and Pole Breakout), Hindcopper (Inverted Head & Shoulder Breakout), NMDC (Symmetrical Triangle Breakout), and SAIL (Flag and Pole Breakout) look strong. Price and volume breakout was noticed in some of the Cement counters, investors should keep an eye on the same."
Jan 29, 2024, 9:45 am IST
Tata Technologies Reports 14.7% YoY Growth In Q3 Profit, Reaching Rs 170.22 Crore
Tata Technologies has posted a consolidated profit of Rs 170.22 crore for the quarter ending December FY24, reflecting a robust year-on-year growth of 14.7%. During the same period, revenue from operations also saw a corresponding increase of 14.7% to reach Rs 1,289.5 crore. In US dollar terms, the total operating revenues witnessed a 13.4% YoY surge, reaching 4.8 million. Within the services segment, revenues experienced an 8.3% YoY rise, reaching 0.2 million, and in constant currency terms, the growth stood at 5.8% YoY.
Jan 29, 2024, 9:40 am IST
RBI Greenlights Extension Of JK Shivan's Term As MD & CEO Of Dhanlaxmi Bank
The Reserve Bank of India (RBI) has granted formal approval for the extension of J K Shivan's tenure as the Managing Director and CEO of Dhanlaxmi Bank. Shivan will continue in this role until his successor officially assumes office. Dhanlaxmi Bank has duly submitted its application to the RBI, listing potential candidates for approval in the appointment of the new MD & CEO.
Jan 29, 2024, 9:38 am IST
VA Tech Wabag Sustains Positive Momentum For The Second Consecutive Day, Climbs 3.7%
VA Tech Wabag shares continue their upward trajectory, marking a 3.7% increase for the second consecutive day. The company, known for its expertise in water treatment solutions, recently inked a Memorandum of Understanding (MoU) with Peak Sustainability Ventures. The collaborative effort aims to establish 100 Bio-CNG plants at sewage treatment facilities.
Over the past year, VA Tech Wabag shares have demonstrated remarkable growth, surging by 104.38%. The sustained positive momentum not only reflects investor confidence in the company's current initiatives but also positions VA Tech Wabag as a noteworthy player in the environmental solutions sector.
Jan 29, 2024, 9:21 am IST
Market Opens With Healthy Gains; Nifty Above 21,450, Sensex Up 400 Points
On January 29, Indian indices kicked off on a positive note, with the Nifty surpassing the 21,450 mark. The Sensex recorded a gain of 415.17 points or 0.59%, reaching 71,115.84, while the Nifty witnessed an increase of 124.90 points or 0.58%, reaching 21,477.50.
Among the Nifty components, ONGC, SBI Life Insurance, Adani Enterprises, HDFC Bank, and Sun Pharma emerged as significant gainers, whereas Cipla, Dr Reddy's Labs, Bajaj Auto, BPCL, and ITC were among the major losers. The market saw 2063 shares advancing, 512 shares declining, and 142 shares remaining unchanged.
Jan 29, 2024, 9:14 am IST
Six IPOs Set To Debut On Dalal Street, With 10 Listings In The Pipeline This Week
Six firms are poised to raise just over Rs 500 crore through initial public offerings, comprising one from the mainboard segment and the rest from the SME segment.
Jan 29, 2024, 9:11 am IST
Rupee Opens Weaker Compared To Thursday's Close
The Indian rupee commenced trading slightly lower at 83.15 per dollar on Monday, a marginal decline from the closing rate of 83.11 observed on Thursday.
Jan 29, 2024, 9:10 am IST
Indiabulls Housing Finance Board Approves Rights Issue
Indiabulls Housing Finance Ltd has greenlit a rights issue, aiming to generate Rs 3,693 crore, as stated in a filing with the stock exchange on Sunday. The initiative involves the issuance of 24.62 crore rights shares, each having a face value of Rs 2, at a price of Rs 150 per rights equity share. Notably, the rights issue price represents a discount of 24.6% compared to the closing price of the stock on the preceding Thursday.
Jan 29, 2024, 8:48 am IST
Zee Promoters Reveal Plan To Increase Stake To 26%, In A Mint Interview
Promoters of Zee Entertainment Enterprises Ltd, led by Subhash Chandra, express their intention to raise their stake in the company to 26%, up from the current 4%. In an interview with Mint, Chandra outlined the plan, emphasizing the need for patience as the process unfolds. Additionally, he clarified that the stake increase would not involve raising funds through external debt. Chandra stated, "It will take time, and we will require a substantial amount of capital. However, we are resolute in our decision not to seek external funding or incur debt. This transformation won't happen overnight, but that is our ultimate goal."
Jan 29, 2024, 8:38 am IST
Crude Prices Surge On Mideast Attacks
Oil prices surged due to increased tensions in the Middle East, posing a threat to global trade, while Asian stocks experienced gains. Both Brent and West Texas Intermediate crude witnessed a more than 1% increase, reaching their highest levels since November in intraday trading. The escalation came after the US reported that Iranian-backed militants had killed three service members, prompting US President Joe Biden to vow retaliation. The oil market had already seen an uptick on Friday when Houthi rebels attacked a vessel carrying Russian fuel.
In Japan, stock prices opened higher, with energy producers leading the gains in response to the surge in oil prices. Similarly, stocks in South Korea also saw advances. However, futures contracts for US stocks declined as investors assessed the risks stemming from the conflicts in the Middle East at the beginning of a crucial week for the global policy outlook.
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