Equity benchmark indices Sensex and Nifty witnessed marginal surge in trade on Thursday. BSE Sensex ended the day with the gain of 63 points to 71,721 and Nifty 50 rallied 28 points to 21,647 on January 11, 2024. Shares of Polycab India witnessed sharp decline of 20.56% in trade today to close at 3903.00 apiece after the income tax department said it discovered "unaccounted cash sales" of about Rs 1,000 crore when it searched the company's offices the previous day.
Meanwhile, shares of Easy Trip Planners zoomed 18% in trade today amid Maldives row.
On the Nifty pack, the top gainers were Hero Motocorp, Axis Bank, Eicher Motors, Bajaj Finserv and HDFC Life Insurance Company while the worst performers were Dr Reddy's Laboratories, Infosys, HCL Tech, Sun Pharma and Nestle India.
Regarding the global market, Asian markets saw a significant uptick on Thursday ahead of the release of US inflation data on Thursday, which has alarmed investors around the world. The IT industry is anticipated to continue to be conspicuous on Thursday due to the Q3 results that IT giants TCS and Infosys are set to release.
As investors eyed U.S. inflation data for new signals on when the Federal Reserve is expected to start slashing interest rates, gold prices marginally gained on Thursday. The spot price of gold was $2,029 while US gold futures increased to $2,03.60, up 0.3%. Concerning commodities, escalating Middle Eastern tensions versus an unexpected increase in U.S. crude stockpiles caused oil benchmarks to drop by around 80 cents the previous session, and this led to a sharp increase in crude oil prices on Thursday, according to a Reuters report. By 0202 GMT, U.S. West Texas Intermediate crude oil futures had risen by 20 cents, or 0.28%, to $71.57 per barrel. The price per barrel of benchmark Brent crude oil climbed by 21 cents, or 0.27%, to $77.01.
LIVE Feed
Jan 11, 2024, 3:24 pm IST
Manaksia Steels Hits 20% Upper Circuit
Small cap company from Iron & Steel Products industry, Manaksia Steels Ltd shares today hit 20% upper circuit. Last trading price of Manaksia Steels share on BSE is Rs 61.71 apiece with intraday jump of 19.38%. Manaksia Steels has a market capitalisation of Rs 404.61 crore.
Jan 11, 2024, 2:34 pm IST
Ok Play India Ltd Shares Hit Upper Circuit, To Consider Stock Split On Jan 30
Small cap company Ok Play India Ltd shares today hit 5.00% upper circuit as it informed that the Board of Directors will hold a meeting on January 30 to consider sub-division/stock split. Last trading price of Ok Play India share on BSE is Rs 150.90 apiece with intraday surge of 4.97%. Ok Play India shares fell 11% in last 1-month and gained 225% in last 1-year.
EaseMyTrip.com, one of India’s second largest online travel tech platform has launched its new subsidiary, EaseMyTrip Insurance Broker Private Limited. This is a strategic move by the company to diversify its service portfolio and tap into the insurance market by creating a specialized product to solve customer needs. The new venture is expected to solidify EaseMyTrip's position in the industry and cater to an INR 7.9 trillion market with EaseMyTrip’s own 20 Million userbase. India is the fifth largest life insurance market in the world's emerging insurance markets, growing at a rate of 32-34% each year.
Last trading price of Easy Trip Planners Ltd on BSE is Rs 52.32 per share
Jan 11, 2024, 1:54 pm IST
SpiceJet Climbs 3% After Arm SpiceXpress Partners With Star Air
SpiceJet witnessed an almost 3% increase in its shares on Thursday following the revelation that its subsidiary, SpiceXpress and Logistics Pvt Ltd, has formed a partnership with Star Air. SpiceJet's logistics division is set to oversee the belly space capacity across Star Air's fleet of nine aircraft, as stated by the airline.
Jyoti CNC Automation's initial public offering (IPO) closed on a spectacular note, smashing subscription targets and leaving investors cheering. The CNC machinery manufacturer's IPO received bids for a whopping 21.28 crore shares, a staggering 12.13 times the issue size of 1.75 crore shares! This phenomenal response was fueled by a retail investor frenzy, with their portion getting subscribed a mind-boggling 21.04 times. High net-worth individuals (HNIs) and qualified institutional buyers (QIBs) also joined the party, subscribing to their respective portions 19.50 times and 5.47 times, respectively.
Jan 11, 2024, 12:20 pm IST
Dollar Down, Bitcoin Up; Investors Await US Inflation Reading
The dollar and yen slumped in Asian trading on Thursday, with traders eyeing US inflation data for clues on future Fed policy. Bitcoin, on the other hand, basked in the glow of US ETF approval, inching closer to a two-year high.
Jan 11, 2024, 12:05 pm IST
Top Nifty Gainers And Losers With Volume Stocks By Mid-Day Session
Auto stocks gain momentum in the early live session, Hero MotoCorp, Bajaj Auto, and Eicher Motors are on top today trading at 3.58%, 3.34%, and 1.68% respectively in green. Significant falls were noted by Dr. Reddy's Lab by dropping 2.05%, and Infosys lost 1.14%. The highest Volume today is gained by Powergrid and Tata Steels with more than a crore shares each exchanged already. Nifty Consumer Durables and Auto are trading in green by 1.6% and 1.25% respectively by noon today.
Jan 11, 2024, 11:44 am IST
Rupee Strongly Gaining Value Against USD, While losses value against Pound
Today the USD Futures maturing 12th January 2024 have fallen by 0.1% to trade below Rs. 83/- range and floats around Rs. 82.97/-. The robust capital market performance and expectations of green quarterly results from major Indian companies might be the push behind the increasing Rupee value. However, GBP Futures gains against Rupee by 0.21% and currently floats around 105.93/-, similarly Euro Futures today are trading in green against INR at 91.12/- range.
Jan 11, 2024, 11:18 am IST
Gold Losses Shine Since The Beginning of 2024, Fallen Almost 2.2% in Two Weeks
Yellow Metal Prices In India today are falling consistently since the past week, currently trading around Rs. 62,830/- per 10 grams for 24-carat and Rs. 57,600/- per 10 grams for 22-carat. Internationally the bullion is recovering from previous lows, trading close to psychological levels at $ 2,033/- per ounce. Silver Metal grinds same range this week, floating at $ 23/- per ounce globally and Rs. 76,000/- per kg In India.
Jan 11, 2024, 10:53 am IST
Ajmera Realty Discloses Results, Dr. Reddy's Lab Made Changes in Management
ARIIL demonstrated robust growth in Q3 FY24 with a significant 63% YoY increase in sales area, which totals 1,03,573 sq. ft, and an equivalent sales value of INR 253 crores. The 98% YoY growth in sales value came on the back of sustained interest in our key projects, Ajmera Manhattan and Ajmera Eden in Mumbai, as well as our projects in Bengaluru. ARIIL clocks sales value of INR 253 crores and collections of INR 151 crores for the Third Quarter of FY24 with a growth of 98% and 30% respectively as compared to the Third Quarter of FY23. Dr. Reddy's Laboratories Limited has informed the Exchange about the Change in Directors/ Key Managerial Personnel.
Jan 11, 2024, 10:34 am IST
Polycab Gets Questioned By Exchange For Unaccounted Sales, Archean Chemicals Receives Term Loan From ICICI Bank
The Exchange has sought clarification from Polycab India Limited with respect to recent news item captioned I-T dept found unaccounted sales of Rs 1,000 cr during raid against Polycab. The response from the Company is awaited. Archean Chemical Industries Limited to secure the rupee term loan of Rs.167 Crores availed by its wholly owned subsidiary from ICICI Bank Limited. The Corporate Guarantee of Rs. 167 crores issued on January 10, 2024, in favour of ICICI Bank Limited which is extending banking facility availed by Acume Chemicals Private Limited. The Guarantee is valid upto December 31, 2029.
Jan 11, 2024, 10:16 am IST
Shyam Metallic Shares December Quarter Results With Investors Today
There has been an increase of 57.8% in sale volume as compared to the previous quarter whereas realizations have dropped by 3.7%. This is on the back of the implementation of new capacities. With newly finished steel capacities coming on stream the billet volume sale in the markets reduced by 22.6% as compared to the previous quarter but every month the average realization has decreased by 1.7% and the volume has decreased by 36.0%. Overall the steel volumes have increased by 26.8% every quarter with realisation down by 6%. There has been an increase of 23.5% every month with realization down by 1.8% monthly.
Jan 11, 2024, 9:58 am IST
SpiceJet Shares In Focus
The SpiceJet board approved the preferential issuance of 31.8 crore shares at a price of Rs 50 per share.
Jan 11, 2024, 9:46 am IST
Morning View On The Market From Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
There is no consistency in FII and DII behaviour so far this month. They are doing alternative bouts of buying and selling which is restricting the market in a range. The market needs triggers to break out or breakdown from this range. A probable negative trigger can be a slightly hawkish statement from the Fed postponing the rate cuts which the market expects to begin by March 2023. The US CPI inflation data due tonight will provide cues regarding this.
The Q3 results season starting today with the results of TCS and Infy will provide indications of the Nifty earnings for FY24. Financials, capital goods, telecom, automobiles and hotels will post good numbers. IT results will be tepid and FMCG will be a mixed bag.
More than broad market action, market responses will be stock-specific in response to results and management commentary.
Jan 11, 2024, 9:44 am IST
SEC approves 11 Bitcoin spot ETFs
Mr Edul Patel CEO of Mudrex said, "The approval of spot Bitcoin ETFs by the SEC marks a significant milestone after a decade of anticipation and regulatory challenges. The decision to greenlight 11 spot Bitcoin ETFs reflects a growing acceptance and recognition of digital assets within traditional financial markets. This move is expected to bring about increased adoption, liquidity and overall market maturity. It also signifies a shift in the perception of cryptocurrencies from a niche asset class to one that is gaining mainstream acceptance. The fact that these ETFs are set to trade on major exchanges such as NYSE Arca, Nasdaq, and Cboe BZX Exchange adds further legitimacy to the crypto market. It opens up opportunities for a broader investor base to participate in the crypto space through familiar and established trading platforms. Investors are now closely monitoring the developments surrounding Ethereum ETF applications."
Jan 11, 2024, 9:43 am IST
Garment Mantra Lifestyle Share In Focus
The company's board has discussed raising funds through the issuance of equity shares on a rights basis up to Rs. 48 crores, subject to receiving the required regulatory authority. The board has also discussed options for raising funds through a wholly owned subsidiary and decided that the company will look into raising funds through an IPO of "Jannat Fabrics and Apparels Private Limited," one of its subsidiaries.
Jan 11, 2024, 8:58 am IST
Market Outlook Today By Aditya Gaggar, Director of Progressive Shares
A late surge in heavyweight counters delivered support to the Index to settle the day at 21,618.70. By retesting its dual support of 21,470 as well as 21DMA, the Index has formed a piercing candlestick pattern which is bullish and indicates a resumption of the current uptrend. A zone of 21,430-21,470 will act as a strong support while the immediate resistance comes at 21,725-21,750. From the Auto sector, we prefer Hero Motocorp (set to trade in uncharted territory) and Tata Motors (Ascending Triangle Breakout). Rather than focusing on just Auto stocks, one should keep an eye on ancillary stocks as well. Consolidation of almost 2 years in energy giant Reliance comes to an end with a Cup and Handle Formation breakout. Going forward, we expect that the stock will lead the sector as well as the Index rally. Couple of Metal stocks are pointing towards the reversal of the trend with a hidden bullish divergence in RSI, one should keep an eye on the sector. Need to relook at the Power generation stocks, our preferred bets are NLC India (Hidden Bullish Divergence with 21DMA support) and PTC India (On the verge of a breakout). Civil construction stock ITD Cementation has given a breakout from the bullish Flag and Pole formation with considerable volumes. Post the confirmation, one can buy the stock for the medium-term target of Rs380.
Jan 11, 2024, 8:26 am IST
Stocks To Buy Today As Recommended By Sumeet Bagadia, Executive Director of Choice Broking
On Thursday, January 11, market watchers are anticipated to be watching the top 8 stocks, which include TCS, Infosys, BOI, Tech Mahindra, SpiceJet, and Paytm.
Click it and Unblock the Notifications
Sign in with Google