Tag: high

Mahindra sells 35,976 SUVs in March, its highest ever

Mahindra sells 35,976 SUVs in March, its highest ever
Monday, April 3, 2023
Mahindra & Mahindra (M&M) on Monday said its total sales increased by 21 percent year-on-year to 66,091 units in March. Mahindra & Mahindra has announced that the company's SUV sales for the month of March 2023 stood at 35,976. This sets a new record for Mahindra’s passenger vehicles division with its SUVs, cars, and vans bringing in total sales of 35,997 units. When compared the March 2022’s 27,603 units, the company has achieved a 31 percent growth in its sales this year. It was the company's highest-ever utility vehicle wholesales in a month.M&M said its exports last month stood at 2,115 units, as against 3,160 units in the year-ago period, a drop of 33 percent. For the last financial year, the company sold 3,56,961 utility vehicles, an increase of 60 percent over 2,23,682 units in 2021-22. Read more

L&T hits record high on hopes of strong order inflows

L&T hits record high on hopes of strong order inflows
Tuesday, January 17, 2023
Shares of Larsen & Toubro (L&T) soared 4 percent to hit a new high of Rs 2,214 in Tuesday’s intra-day trade, on the expectation of strong order inflows and improved execution.L&T Construction's buildings & factories (B&F) fast business has received a significant repeat order from a reputable and prestigious commercial developer, one of India's largest mixed-use developers and operators. The order is ‘significant’, classified by the company as those in the range of ₹1,000-2,500 crore. The mandate is to build two commercial office towers in Hyderabad with approximate built-up areas of 28.91 lakh square feet and 28.53 lakh square feet, respectively. The engineering and construction major will be responsible for the civil work on the towers, one of which will have 22 floors and the other 41 floors. The construction is scheduled to be completed in 18 months, it said. Read more

Marksans Pharma shares jump 8% to hit 52-week high today

Marksans Pharma shares jump 8% to hit 52-week high today
Wednesday, January 11, 2023
Shares of Marksans Pharma surged more than 8 percent and hit a 52-week high of Rs 67.40 in Wednesday's trade, extending their gains for the third straight session amid heavy volumes, after the company announced that its Board will consider and allot fully paid-up equity shares against convertible warrants to the promoter and OrbiMed Asia. Its previous close was Rs 62.25. The company, in an exchange filing, said that a board meeting would be held on January 20 to consider and allot fully paid-up equity shares. per an exchange filing, promoter Mark Saldanha will be allotted 10 lakh equity shares at Rs 74 apiece. OrbiMed Asia IV Mauritius FVCI Limited will be allotted 4.9 crore shares at Rs 74 each. This brings the total issue to Rs 372 crore."Expected approval by the board of directors in favor of the owner led to a strong uptrend in Marksans Pharma's stock price. A daily close above Rs 64 could lead to targets of Rs 67-73.65 in the coming days," said AR Ramachandran from Tips2trades. Read more

TVS Electronics up 18% on heavy volumes, hits 52-week high in weak market

TVS Electronics up 18% on heavy volumes, hits 52-week high in weak market
Wednesday, January 4, 2023
Shares of TVS Electronics hit a 52-week high of Rs 344.6, surging 18 percent on the BSE in Wednesday's intra-day trade, supported by heavy volumes in an otherwise weak market.TVS Electronics Limited (TVS-E) is a leading and one of the most prominent players in the IT peripherals and consumer electronics market. Shares of the computer hardware and equipment company surpassed the previous high of Rs 333 touched on September 2, 2022. Under the purview of the Products & Solutions Group (PSG), the company designs, manufactures, assembles, sells, and services a wide variety of products, such as dot matrix printers, thermal receipt printers, label printers, mobile printers, mechanical keyboards, membrane keyboards, mouse, barcode scanner, currency counter, surveillance camera, touch POS system, handheld device, and electronic cash register, etc. Read more

JK Paper multibagger stock hits record high

JK Paper multibagger stock hits record high
Wednesday, December 21, 2022
Shares of JK Paper Ltd surged to hit a record high of ₹452 apiece on the BSE in Wednesday's early trading session in an otherwise weak market. In the past four trading days, the stock price of the paper maker has rallied 10 percent. The stock has been an outperformer this year as it has given a multibagger return of over 115% in 2022.JK Paper is among the top makers of copier paper, coated paper, and packaging boards in the country. The company is consistently following a policy of focusing on value-added products like Copier, Bond, Security, Coated Papers, Virgin Fibre Packaging Boards, High-end Maplitho, Food Grade Papers, and Boards. Read more

Mahindra Finance touchs 52 week high on healthy disbursements in Nov

Mahindra Finance touchs 52 week high on healthy disbursements in Nov
Monday, December 5, 2022
Mahindra & Mahindra (M&M) Financial Services' share price touched a fresh 52-week high of Rs 243.60 apiece, after surging by around 6.5 percent on the BSE intraday during Monday’s trading session after the company announced it recorded a disbursement of approximately Rs 4,500 crore in November 2022, delivering a 75 percent year on year (YoY) growth, on the backdrop of positive macro environment. The stock of M&M Group’s financial arm breached its earlier high of Rs 235, hit on September 15, 2022. The financial company's year-to-date (YTD) disbursement stood at approximately Rs 31,050 crore, registering a YoY growth of 99 percent. Healthy disbursement trends have led to a strong gross asset book of approximately Rs 76,300 crore, growing around 3.4 percent over September 2022. . This has resulted in a growth of 17.5% versus March 2022. Read more

Federal Bank gains 6 percent, net profit at 704 cr

Federal Bank gains 6 percent, net profit at 704 cr
Friday, October 14, 2022
Shares of Federal Bank surged 6 percent to hit an all-time high of Rs 132.10 on the BSE in Friday’s intra-day trade on heavy volumes after the bank delivered its highest-ever quarterly net profit at Rs 704 crore (up 53 percent year-on-year) in the September quarter (Q2FY23). Net profit in the year-ago period stood at Rs 460 crore. Meanwhile, the lender's net income interest (NII), which is the difference between the interest earned and expended, rose about 19% to ₹1,762 crores from ₹1,479.4 crore year-on-year (YoY). On the other hand, its net interest margin (NIM) improved to 3.30%, higher by 10 bps YoY and 8 bps QoQ. Asset quality of the bank improved as gross non-performing assets (NPA) came at 2.46 percent as compared to 2.69 percent in the preceding quarter. The bank’s net NPA stood at 0.78 percent as against 1.12 percent in Q2FY22. Its provision and contingencies rose to ₹267.8 crores from ₹166 crores on a sequential basis, however, dipped as compared to ₹292 crores in September Read more

ITC gains 4 percent hits 52 week high

ITC gains 4 percent hits 52 week high
Friday, April 8, 2022
The stock of FMCG major ITC hit a fresh 52-week high of Rs 265.90, up 4 percent on the BSE in Friday's intra-day trade, on the expectation of healthy earnings, against the previous close of Rs 256.60 on BSE. Market cap of the firm rose to Rs 3.26 lakh crore on BSE. The stock of the cigarettes to fast-moving consumer goods (FMCG) major has rallied 24 percent in the past six weeks. For the October-December quarter (Q3FY22), ITC had reported strong all-around revenue performance led by robust recovery across markets due to a rise in mobility and an efficient distribution system. Meanwhile, Motilal Oswal has disclosed its Q4 earnings estimates for the consumer sector. It expects ITC to report a net profit of Rs 4,076.4 crore rising 8.7% year-on-year (down 1.9% quarter-on-quarter). Net sales are expected to rise 4.1 percent Y-o-Y (down 12.7 percent Q-o-Q) to Rs 13,842.1 crore, according to Motilal Oswal. Read more

YES Bank hits 52 week high as CARE Ratings upgrade outlook to 'positive'

YES Bank hits 52 week high as CARE Ratings upgrade outlook to 'positive'
Thursday, April 7, 2022
Shares of YES Bank surged 10.6 percent to Rs 16.25 per share, hitting a 52-week high in an otherwise weak market after rating agency CARE Ratings upgraded the private bank’s credit rating. The stock price has jumped over 22.5 percent in the last month, and more than 10 percent so far in this calendar year. The rating agency upgraded the outlook to 'positive' on account of stable growth in deposits and advances. On Tuesday, the bank said its net advances grew by 8.8 percent to Rs 181,508 crore in the fiscal ended March 31st. The bank's net advances were at Rs 166,893 crore in the previous fiscal ended March 2021. Deposits during the year grew by 21.1 percent to Rs 197,281 crore as against Rs 162,947 crore in FY21.CASA deposits of the bank have also increased by 52 percent during FY21 to Rs 42,587 crore as of March 31, 2021. The credit to deposit ratio stood at 92 percent as of March 31, 2022, compared to 102.4 percent a year ago, the private sector lender said. Read more

Titan Shares Hit New All-Time High

Titan Shares Hit New All-Time High
Thursday, March 17, 2022
Rakesh Jhunjhunwala’s portfolio stock Titan Company hit a record high on Thursday and rose over 5% and is among the top Nifty gainers in trade on March 17, 2022. Titan’s stock rose 5.2% at Rs 2721.65 per share on NSE and was up 5% at Rs 2720 apiece on the BSE in intraday trading. According to stock market experts, the stock is expected to reap the margin benefit of the recent gold price rally in the international market. They said that chances are bright for the jewelry stock to give better Q4 numbers in the upcoming result season. They said that Titan share prices are in an uptrend and may climb to a new lifetime high in the next month. Last week on Friday, the company said its subsidiary has inked an agreement to acquire 17.5% voting rights in US-based Great Heights Inc for USD 20 million (around Rs 152 crore). TCL North America Inc (TCLNA), a wholly-owned subsidiary of the company, has signed a stock purchase agreement with Great Heights Inc for the subscription of shares Read more

DB Realty shares hit 5% upper circuit as it wins legal case regarding Mumbai land parcel

DB Realty shares hit 5% upper circuit as it wins legal case regarding Mumbai land parcel
Wednesday, March 2, 2022
Shares of DB Realty hit the 5 percent upper circuit on Wednesday as the company informed the stock exchanges that the firm has won the title of land owned by it in Mumbai and will now develop a 2 million square feet office complex. The matter which was under the review of The Supreme Court through public interest litigation (PIL), was cleared by the apex court on February 28 in favor of the real estate developer. The court through its order has allowed the subsidiary of the company – Esteem Properties to develop this land in Mumbai. In a regulatory filing, D B Realty informed that its subsidiary Esteem Properties owns about 22,000 square meters of land at Andheri (East) in Mumbai and was the subject matter of Public Interest Litigation."The Company intends to develop the subject land into a 2.00 million sq feet (leasable area) grade A office space in the next 3 years." Read more

MARKET UPDATE:Sensex was now 1,100 points at 57,041, and the NSE Nifty was at 17,032, lower by 348 points

MARKET UPDATE:Sensex was now 1,100 points at 57,041, and the NSE Nifty was at 17,032, lower by 348 points
Monday, February 14, 2022
The Indian key benchmark indices held on to sharp losses in early morning trade today (14th February 20222) but were slightly off lows. The indices had slumped at open amid high global volatility on a possible Russian invasion of Ukraine. The BSE Sensex was now 1,100 points at 57,041, and the NSE Nifty was at 17,032, lower by 348 points. HDFC, IndusInd Bank, Tata Steel, SBI, ICICI Bank, M&M, and Bharti Airtel were the top Sensex laggards, down 3-3.5 percent. JSW Steel led losses on the Nifty, trading 5 percent lower, followed by additional losers-HDFC Life and Tata Motors. The overall market breadth was also highly negative with 2,630 stocks declining on the BSE, while only 517 were trading higher. Read more

MARKET UPDATE:Sensex down 657 points at 58,268, while Nifty at 17,410, lower by 195 points

MARKET UPDATE:Sensex down 657 points at 58,268, while Nifty at 17,410, lower by 195 points
Friday, February 11, 2022
Indian benchmark indices started to trade on a highly negative note today (11th February 2022) a day after RBI's dovish policy had calmed the markets in line with the soured global sentiment on high US inflation data and rate hike fears. The BSE Sensex was down 657 points at 58,268, while the NSE Nifty was at 17,410, lower by 195 points. Among the Sensex-30 shares, only NTPC was in the green, while IT majors Infosys, Wipro, HCL Tech and Tech M were the top losers, lower by over 2 percent each. Other losers included Bajaj Twins, HDFC, Dr. Reddy's, Kotak Bank, Titan, TCS, and ICICI Bank. On the Nifty, HeroMoto Corp, Cipla, and Eicher Motors were the additional top losers, down up to 1.6 percent. In the broader markets, the BSE MidCap and SmallCap indices were also in the red territory, down 0.77 and 0.9 percent, respectively. Read more

MARKET UPDATE:Sensex at 58,343, down 300 points, while Nifty lower by 90 points at 17,426

MARKET UPDATE:Sensex at 58,343, down 300 points, while Nifty lower by 90 points at 17,426
Monday, February 7, 2022
The Indian benchmark indices were extending losses amid high volatility and were down 0.5 percent each today(7th February 2022). The BSE Sensex was at 58,343, down 300 points, while the NSE Nifty was lower by 90 points at 17,426. Among top gainers on the Sensex, SBI, PowerGrid, Tata Steel, NTPC, Reliance, Tech M and Bajaj Finserv were the only stocks in the green zone, up between 0.8-2 percent. Bajaj Finance, M&M, Dr. Reddy's, L&T, Bharti Airtel, Infosys, Asian Paints, HDFC twins, Wipro, and ITC were the top laggrads, down 1-2 percent. On the Nifty, Hero MotoCorp, Bajaj Auto, Divis Labs, Cipla, and Eicher Motors were the additional losers. This apart, the BSE Auto index was down over 1 percent and was a prominent loser sectorally. Read more

Infra, construction stocks rally upto 8 percent after govt aims to expand national highway

Infra, construction stocks rally upto 8 percent after govt aims to expand national highway
Tuesday, February 1, 2022
Infrastructure and construction stocks gained higher intraday on February 1, after Finance Minister Nirmala Sitharaman in her Budget speech said the Union government aims to further grow highway networks in the country by 25,000 km in FY23. PM Gati Shakti will encompass the seven engines for multi-modal connectivity for the states with speedier implementation of development projects through technology to facilitate faster movement of people and goods through Rs 20,000 crore financed by the govt to speed up this project," the FM said in her Budget speech in the Parliament. The government is also going to add more Vande Bharat trains, she said. Execution of national highway projects has been one of the highlights of the Narendra Modi-led government, and companies will hope for higher tendering activity from the National Highways Authority of India (NHAI) in the next financial year. Read more

MARKET UPDATE:Sensex down 285 points at 60,469 while Nifty at 18,044 lower by 68 points

MARKET UPDATE:Sensex down 285 points at 60,469 while Nifty at 18,044 lower by 68 points
Wednesday, January 19, 2022
The Indian benchmark indices extended their opening losses and were 0.5 percent lower in early morning trade today (19th January 2022). The BSE Sensex was down 285 points at 60,469 while the NSE Nifty was at 18,044 lower by 68 points. The index slipped below 18,000 to a low of 17,950 earlier. Infosys, Asian Paints, HCL Tech, Wipro, Ultratech Cement, Sun Pharma, Kotak Bank, L&T, TCS, HDFC, HUL, Airtel were the top laggards of the Sensex-30 pack and were trading 0.7-2 percent lower. On the Nifty, Tata Consumer, Adani Ports, HDFC Life, SBI Life, and Shree Cement were the additional losers. Read more

MARKET UPDATE: Sensex surged 261 points to quote at 57,224 level while Nifty at 17,039 up 83 points

MARKET UPDATE: Sensex surged 261 points to quote at 57,224 level while Nifty at 17,039 up 83 points
Thursday, December 23, 2021
Indian benchmark indices, in line with positive global market trends, the benchmark indices opened higher and rose up to 0.5% today(23rd Dec.2021). The BSE Sensex surged 261 points to quote at 57,224 level while the Nifty50 was at 17,039, up 83 points. In the broader markets, the BSE MidCap and SmallCap indices gained 0.6 per cent each.

MARKET UPDATE:Sensex started at 57,818 level, up 133 points while Nifty opened at 17,210, up 43 points

MARKET UPDATE:Sensex started at 57,818 level, up 133 points while Nifty opened at 17,210, up 43 points
Thursday, December 2, 2021
Indian equities started higher today(2nd December 2021) amid mixed global cues. The S&P BSE Sensex started today's session at 57,818 level, up 133 points or 0.2 percent. The Nifty50 opened at 17,210, up 43 points. M&M (up over 2 percent), HDFC, Power Grid, Titan, and Sun Pharma were leading the list of gainers on the Sensex index. On the flipside, L&T (down 0.8 percent), ICICI Bank, Nestle India, Axis Bank, and SBI were trading in the red. In the broader markets, the BSE MidCap and SmallCap indices added 0.29 percent and 0.22 percent, respectively. Among individual stocks, NDTV shares were locked at a 5 percent upper circuit after the company has signed an exclusive 10-year deal worth Rs 750 crore with Taboola – a global leader in powering content recommendations on the open web. Read more

Whether For FIIs India is becoming less and less attractive?

Whether For FIIs India is becoming less and less attractive?
Tuesday, November 30, 2021
After a world-beating rally, Indian markets are losing their allure to emerging market (EM) peers. The foreign portfolio investors have turned cautious on India. according to some experts, this year’s rally is primarily driven by domestic money and those flows could dry up. Covid-19 impacted the unorganised or the informal economy but the listed space has largely benefited. also in 2020-21, despite the economy shrinking 7.5 percent, the earnings growth for Nifty companies was probably the best in a decade. The recovery from lockdowns has been reasonably good without any big government stimulus. The domestic supplies of vaccines helped and the execution program was stellar. Read more

Hope lingers for market amid gloom over Omicron variant Covid-19

Hope lingers for market amid gloom over Omicron variant Covid-19
Monday, November 29, 2021
The BSE benchmark index, the Sensex, dipped to a low of 56,383 in early deals today(29th Nov.2021), and then rebounded and surged to a high of 57,627 - up 1,244 points from the day's low. The BSE index, which, was up over 500 points at the highs of the day eventually ended with a minor gain of 154 points at 57,261. The NSE Nifty cracked to a low of 16,782 in opening deals and then pulled back to a high of 17,161. The Nifty 50 finally settled at 17,054, up 28 points. Benchmark indices the Nifty and Sensex have fallen as much as 8 percent from their all-time highs last month. The high valuation was already a hurdle for the market and now, the new risk emerging on the Covid-19 front has added fuel to the fire. It is a fact that despite the pullback, India remains among the top performers in CY21, with the Nifty up 21 percent in CY21 YTD versus a flattish performance of the MSCI EM Index. But a correction in the market was overdue. Read more

Closing Bell : High volatility;BSE Sensex ended 678 points lower at 59,307 and Nifty down 185 points at 17,672

Closing Bell : High volatility;BSE Sensex ended 678 points lower at 59,307 and Nifty down 185 points at 17,672
Friday, October 29, 2021
Today(29th Oct.2021) the markets exhibited a high amount of volatility for the second day in a row on the back of unabated selling pressure in select index heavyweights. The BSE Sensex tumbled to a low of 59,089, but eventually ended 678 points lower at 59,307. In the process, the BSE index has now shed 5 percent (2,938 points) from its recent peak of 62,245. The NSE Nifty logged its second straight weekly loss, down 185 points at 17,672. The Nifty has declined 3.8 percent (677 points) in the last two weeks. In intra-day trades on Friday, the 50-share index dipped to a low of 17,613 and was within striking distance of its 50-DMA (Daily Moving Average) at 17,570-odd levels. Read more

MARKET UPDATE:Sensex registered a new high at 61,159 while Nifty touched a new summit at 18,295

MARKET UPDATE:Sensex registered a new high at 61,159 while Nifty touched a new summit at 18,295
Thursday, October 14, 2021
The Indian markets continue to trade on a firm note well supported by IT stocks following a good Q2 show today(14th Oct.2021). The BSE Sensex so far has registered a new high at 61,159 and was up 352 points at 61,089. The NSE Nifty touched a new summit at 18,295 and was up 111 points at 18,273. The BSE IT index has pared considerable gains but is still up 1.2 percent at 35,217. The index had touched a high of 35,794. The BSE Realty, Metal, and Capital Goods indices are the other major gainers, up 1.3-2.7 percent, each. Infosys which touched a high of Rs 1,784, was up 1.4 percent at Rs 1,733. Wipro touched a new high at Rs 723.65 on the BSE and continues to trade firm, at Rs 705, up 4.8 percent. Tech Mahindra has gained 1.4 percent, while HCL Technologies has slipped into the red, down 0.8 percent at Rs 1,255 ahead of its results. Read more

Midcaps and smallcaps to contribute to profitability this time: Experts

Midcaps and smallcaps to contribute to profitability this time: Experts
Wednesday, October 13, 2021
People should always focus on high-quality companies but the opportunity set itself is going to be very different from the ones that we saw in 2018 and 2019 where the markets got very narrow on the top. I see a much wider breadth of industries starting to contribute to the overall profit pool, say, experts. Actually, they believe that while there has been a very strong consolidation in every sector and the big are getting bigger and the strong are getting stronger, the breadth of the market is likely to remain much wider and the opportunity set is likely to remain much wider. People should always focus on high-quality companies but the opportunity set itself is going to be very different from the ones that we saw in 2018 and 2019 where the markets got very narrow on the top. Read more

Tata Motors gains 39 percent in a month on a strong outlook

Tata Motors gains 39 percent in a month on a strong outlook
Monday, October 11, 2021
Shares of Tata Motors hit an over three-year high of Rs 415.30 as they rallied 8.5 per cent on the BSE in Monday’s intra-day trade, continuing their journey northward on the back of a strong growth outlook for Jaguar Land Rover products.The Tata group subsidiary's scrip has rallied around 21% in the past five sessions, whereas in a month, it has risen about 39%. The company, however, warned that retail sales of Jaguar Land Rover for three-month ended September 2021 was constrained by the impact of the global semiconductor shortage.Tata Motors is in the advanced stages to raise $1 billion through the stock sale of its electric vehicle unit, the Times of India reported on Friday. "The global semiconductor supply issue represents a significant near-term challenge for the industry which will take time to work through. Read more

Sensex tanks 720 pts from day's high,Nifty PSB drops 3%

Sensex tanks 720 pts from day's high,Nifty PSB drops 3%
Friday, September 17, 2021
The benchmark indices tumbled from record-high levels to snap their three-day winning run in a volatile session on Dalal Street, amid losses in RIL, IT stocks, and select banking counters. Despite a firm global market sentiment, the Indian indices settled in the red as profit-taking ensued following a steep rally in the indices which saw them hitting significant landmarks. After touching a record high of 59,737, the BSE barometer Sensex plunged 721 points from the high to end at 59,016, down 125 points. At the same time, its NSE counterpart Nifty50 settled the day 44 points down at 17,585. The 50-pack index had touched a record peak of 17,793 in the morning session. However, on the weekly basis, the benchmark indices gained, thus taking their winning run to the fourth straight week. Read more

FRL-RIL deal: SC asks NCLT, CCI, Sebi not to pass final orders for 4 weeks

FRL-RIL deal: SC asks NCLT, CCI, Sebi not to pass final orders for 4 weeks
Thursday, September 9, 2021
Today (9th Sept.2021) The Supreme Court of India stayed all the proceedings before the Delhi High Court for four weeks related to the implementation of an award by Singapore's Emergency Arbitrator (EA) restraining Future Retail Ltd (FRL) from going ahead its Rs 24,731 crore merger deal with Reliance Retail. A bench headed by Chief Justice N V Ramana, in a consent order, also directed the statutory authorities like National Company Law Tribunal (NCLT), Competition Commission of India (CCI), and market regulator Sebi not to pass any final order related to the merger deal for next four weeks. It considered the statements of senior advocates Harish Salve and Mukul Rohatgi, appearing for FRL and Future Coupons Private Ltd (FCPL) respectively, that the arbitrator has reserved the final verdict in the case after hearing both sides. Read more

India's market capitalisation to GDP ratio hits 13-year high

India's market capitalisation to GDP ratio hits 13-year high
Thursday, September 2, 2021
The listed companies in India are worth 122 percent of India’s latest annualised gross domestic product (GDP) — the highest since December 2008, when it had hit an all-time high of around 150 percent. The ratio was 112 percent at the end of June and 103 percent at the end of March. India’s current market capitalisation (m-cap) to GDP ratio is nearly 55 percent higher than the 15-year median ratio of 79 percent. The combined m-cap of nearly 3,500 companies listed and actively traded on the BSE reached a new high of Rs 250 trillion on Tuesday and is up 120 percent since the end of March 2020, and 33 percent since the beginning of the current calendar year. This has created a wedge between stock valuations and India’s macroeconomic fundamentals. Read more

MARKET UPDATE:BSE Sensex claimed new record high of 55,138 and Nifty zoomed to 16,462

MARKET UPDATE:BSE Sensex claimed new record high of 55,138 and Nifty zoomed to 16,462
Friday, August 13, 2021
Indian equities hit fresh lifetime highs today(13th August 2021) despite subdued global cues. The S&P BSE Sensex claimed a new record high of 55,138 while the Nifty50 index zoomed to 16,462. Tata Consumer Products, Hindalco, TCS, Bajaj Auto, ITC, and BPCL were the top Nifty gainers In the broader markets, the BSE MidCap and SmallCap index were up 0.3 percent and 0.5 percent, respectively. Shares of Globus Spirits were locked in the upper circuit for the fifth straight trading day, up 5 percent at Rs 941, also its new high on the National Stock Exchange (NSE) today after the promoter and institutional investors bought a stake in the company through the open Read more

SBI reports highest-ever quarterly net profit of Rs 6,504 crore in Q1

SBI reports highest-ever quarterly net profit of Rs 6,504 crore in Q1
Wednesday, August 4, 2021
The country's largest lender, State Bank of India shares surged more than 2 percent on Wednesday as the bank reported a net profit of ₹ 6,504 crores in the quarter ended June 2021, which marked an increase of 55 percent from a profit of ₹ 4,189.34 crores during the same period last year. This was the highest quarterly net profit reported by the lender, SBI said in the BSE filing. The profit was higher than Street’s expectations. A CNBC-TV18 poll of analysts had estimated Q1 profit at Rs 6,374.5 crore. The bank's net interest income, the difference between interest earned and expended, witnessed a growth of 3.7% at ₹27,638 crores as against ₹26,641 crore year-on-year (YoY).SBI's other income jumped 48 percent to ₹ 11,803 crores while provisions for bad loans declined 47 percent to ₹ 5,030 crores on a year-on-year basis. The bank’s operating profit surged 5.06 percent year-on-year to Rs 18,975 crore in Q1FY22, against Rs 18,061 crore in Q1FY21. Read more

Asian Paints rallies 7% after quarter 1 result

Asian Paints rallies 7% after quarter 1 result
Tuesday, July 20, 2021
Shares of Asian Paints rallied by 7 percent at Rs 3,178, hitting a fresh record high on the BSE in the intra-day trade on Tuesday, after the company's net profit more than doubled to Rs 574.3 crore against Rs 219.6 crore year-on-year. The Company's consolidated profit after tax (PAT) was Rs 574 crore for the quarter ended June 2021 (Q1FY21) on the back of a strong operational income. The company had posted a PAT of Rs 218.45 crore in the previous corresponding period (Q1FY20). However, the profit figure was below market expectations as a CNBC-TV18 poll of analysts had expected profit at Rs 721 crore for the quarter. Revenue jumped 91.1 percent YoY to Rs 5,585.4 crore for the said quarter against Rs 2,922.7 crore in Q1FY21.“The domestic decorative business more than doubled its volume and delivered stellar revenues over the lower base of last year, which had suffered from the first nationwide lockdown,” said Amit Syngle, managing director and chief executive officer at Asian Paints. Read more

Banks, financials lift Sensex nearly 400 points

Banks, financials lift Sensex nearly 400 points
Tuesday, July 13, 2021
Bulls were in control today and market breadth was buoyant. Expectations of a good quarter for Textile exporters aided by a weak rupee kept several companies in this space buzzing through the day. Profit booking in several Largecaps & High-Quality Midcaps was witnessed. The 30-share pack Sensex climbed 397.04 points or 0.76 percent to close at 52,769.73. Its broader peer NSE Nifty rose 119.75 points or 0.76 percent to 15,812.35. Read more

Asset managers worried about the steep run-up in mid-, small-cap space

Asset managers worried about the steep run-up in mid-, small-cap space
Friday, July 2, 2021
The mid and small-cap indices, which underperformed large-caps until early 2020, have covered lost ground, gaining 73 percent and 104 percent, respectively, in the last year. “The economy is likely to see a cyclical upturn which makes us feel that the outlook for the broader market is likely to be good going forward. However, the euphoric rise in many poor-quality small-cap names driven by higher retail participation is a cause for concern,” say experts. On aggregate, the entire universe of Flexi cap schemes, which invest across market capitalisations, had 71.5 percent of their assets invested in large caps, 23.4 percent in mid-caps, and 5 percent in small caps as of May 31, data. Read more

Bharat Electronics surges 12%,stock hits 52-week high

Bharat Electronics surges 12%,stock hits 52-week high
Wednesday, June 23, 2021
Shares of Bharat Electronics (BEL) gains 12 percent of Rs 170 on the BSE in intra-day trade on Wednesday and hit over a three-year high after the company reported a strong set of numbers for the quarter ended March 2021. The state-owned aerospace and defense electronics company reported a net profit of Rs 1352.38 crore in the quarter ended March 2021, up 30.73 percent year-on-year (YoY) compared to Q4 FY20 of Rs 1034.52cr. The company has achieved a turnover of Rs6757.05cr for the quarter ended 31st March 2021, as against Rs5725.49cr for the corresponding quarter of the previous year up 18 percent. In Q4FY21, BEL reported a 30.7 percent year-on-year (YoY) jump in profit after tax (PAT) at Rs 1,352 crore on the back of healthy revenue growth and operational performance. Besides, the company has recommended a final dividend of Rs 1.20 per equity share 120 percent of Rs 1 each for the financial year 2020-21. Read more

Globus Spirits share zoomed 50 percent in a week and hits a new high

Globus Spirits share zoomed 50 percent in a week and hits a new high
Friday, June 18, 2021
Shares of breweries and distilleries Globus Spirits shares gained 10 percent and hits a new high of Rs 584 on the National Stock Exchange (NSE) in intra-day trade on Friday. This stock zoomed nearly 53% in the last 5 sessions. The liquor company reported a more-than-double consolidated profit at Rs 50.63 crore in the March-ended quarter of the financial year 2020-2021 amid strong revenue, as compared to Rs 19.35 crore in the same period a year ago. The company's sales rose 31.37 percent to Rs 356.68 crore from Rs 271.51 crore during the same quarter of the previous year. For the full year, net profit was up 182 percent to Rs 140.84 crore against Rs 49.90 crore during the previous year. Ebitda (earnings before interest, taxes, depreciation, and amortization) margin grew by over 1140 bps YoY to 24.9 percent in Q4FY21 from 13.5 percent in Q4FY20, on account of a higher share of consumer business, and better realizations on ENA (Extra Neutral Alcohol) and ethanol. Read more

Tata Motors hits over 3-year high

Tata Motors hits over 3-year high
Wednesday, June 9, 2021
Shares of Tata Motors hit an over three-year high of Rs 358.25, up 1.5 percent, on the BSE in intra-day trade on Wednesday on the back of heavy volumes. Tata Motors' share has rallied 13 percent in the past six days. It surpassed its previous high of Rs 357 touched on March 3, 2021, and was trading at its highest level since April 2018. Tata Motors on Tuesday informed stock exchanges that a new wholly-owned subsidiary named ‘TML CV Mobility Solutions Limited’ has been incorporated by the company. TML CV Mobility Solutions was incorporated to provide end to end services of operating, repair, and maintenance including annual maintenance contracts (AMC) and Fleet Management Services (FMS) for the automotive including electric mobility/electric vehicles, electric buses, fuel cell buses, all types of commercial vehicles etc, the company said. Read more

More than half of BSE 500 stocks trade below their all-time highs

More than half of BSE 500 stocks trade below their all-time highs
Wednesday, May 19, 2021
Two hundred and sixty-three stocks or more than half of stocks that comprise the BSE 500 are trading at least 10 percent below their all-time high levels, despite the index hitting a record high 20,515 points on the BSE in intra-day trade today(19th May 2021), surpassing its previous high of 20,390 touched on March 12, 2021. The index, which accounts for 93 percent market capitalisation of BSE listed companies, has gained 8 percent from its recent low of 18,983 touched on April 19. In comparison, the benchmark S&P BSE Sensex gained 6 percent during the same period but is still nearly 4.5 percent away from its all-time high level of 52,517 hits on February 16. Analysts ascribe the underperformance of bulk of BSE 500 stocks to a classic case of polarisation, where investors are lapping up stocks of sectors that are likely to do well going ahead. Read more

Tata Coffee gains 9 per cent after Standalone Profit Surges 10 Times In March Quarter

Tata Coffee gains 9 per cent after Standalone Profit Surges 10 Times In March Quarter
Friday, April 30, 2021
Shares of Tata Coffee rallied over 9 percent in Friday's session to hit a 52-week high of Rs 139.70 on the BSE after its standalone profit surged 10 times to ₹ 40 crores from ₹ 3.99 crores during the same quarter last year. The company on Thursday posted a more than two-fold jump in consolidated net profit at Rs 57.37 crore for the fourth quarter of 2020-21 fiscal on strong income, as against a net profit of Rs 24.05 crore in the same quarter of the previous fiscal. Its revenue from operations rose 30 percent to ₹ 219 crores from ₹ 167 crores during the same quarter last year. The company's managing director Chacko P Thomas said the Q4 performance remained strong despite challenging conditions."Our India Instant Coffee exports for the quarter have been higher despite logistics issues and a fresh wave of lockdowns in Europe, which are expected to ease in the near future. We have seen stable performances across key geographies.

Wipro surges 8% touches 52 week post March results

Wipro surges 8% touches 52 week post March results
Friday, April 16, 2021
Shares of Wipro rallied 10 per cent to Rs 473 and touched 52 weeks high on the BSE in intra-day trade on Friday after the company reported a healthy IT services revenue growth and margins in the March quarter (Q4FY21) in the last 10 years. The company’s consolidated net profit grew 27.78 per cent year-on-year (YoY) at Rs 2,972 crore, as against Rs 2,326 crore posted in the same period last year. On a quarter-on-quarter (QoQ) basis, the profit increased marginally by 0.14 per cent, compared to Rs 2,968 crore reported in the December quarter of FY21. Its consolidated revenue from operations climbed 3.4 per cent YoY, 3.67 per cent QoQ to Rs 16,245 crore in the recently concluded quarter. Wipro also said that the interim dividend of Re 1 which was announced in January this year, will be considered as the final dividend for the financial year 2020-21.

Oil hits 11-month high after fall in U.S. crude stocks

Oil hits 11-month high after fall in U.S. crude stocks
Wednesday, February 3, 2021
Oil hit an 11-month high on Wednesday, boosted by a draw in U.S. crude and gasoline stocks, which fuelled demand recovery hopes as OPEC and has forecast that the market will be in deficit in 2021. Brent crude futures were up 48 cents, or 0.8%, to $57.94 a barrel at 0839 GMT, their highest since late February 2020. The contract’s“backwardation” structure, where oil for nearby delivery is more expensive than further forward, was near a one-year high at more than $2, indicating expectations of tighter supply. U.S. West Texas Intermediate (WTI) crude futures climbed 34 cents, or 0.6%, to $55.10 a barrel. The benchmark hit a one-year high at $55.26 on Tuesday. The market was also bolstered by news that Democrats in the U.S. Congress took the first steps toward advancing President Joe Biden's proposed $1.9 trillion coronavirus aid plan without Republican support.Gasoline stocks fell by 240,000 barrels, defying analysts' expectations for a build of 1.1 million barrels. Distillate inventories

Nifty at 13,000-mark and Sensex at record peak: Is it time to book profits?

Nifty at 13,000-mark and Sensex at record peak: Is it time to book profits?
Tuesday, November 24, 2020
The rally of Indian equities reached a new high today(24th November 2020) when the Nifty50 index surpassed the 13,000-mark for the first time ever. The S&P BSE Sensex, meanwhile, kissed the 44,500-mark in intra-day deals. A cocktail of better-than-expected earnings, improved Goods and Services Tax (GST) collection, better macro-data, and progress in Covid-19 vaccine development have pushed the markets to their peaks, analysts say. That said, while the markets look poised for a sustained uptrend, investors may consider profit-booking gradually, according to some analysts. Four virus-vaccines – one each by Pfizer and BioNTech; AstraZeneca and Oxford; Sputnik V; and Moderna Inc – have shown over 90 percent efficacy. The development, analysts say, will trigger rallies in the beaten-down and cyclical stocks, while starting the cycle of economic recovery. Read more

India's factory output hits decade high in October as demand bounces back

India's factory output hits decade high in October as demand bounces back
Monday, November 2, 2020
Factory activity in India expanded at its fastest pace in over a decade in October as demand and output continued to recover strongly from coronavirus-related disruptions, but firms cut more jobs, as per a private survey. Indian economy is healing after shrinking a record 23.9 percent in the April-June quarter. The Indian government has removed most restrictions imposed to control the spread of the virus, though infections continue to climb and now number over 8 million people. The Nikkei Manufacturing Purchasing Managers' Index INPMI=ECI, compiled by IHS Markit, rose to 58.9 in October from September's 56.8. The reading was the highest since May 2010 and above the 50-level separating growth from contraction for the third straight month. "Levels of new orders and output at Indian manufacturers continued to recover from the Covid-19 induced contractions seen earlier in the year," said Pollyanna De Lima, economics associate director at IHS Markit. Read more

Tata Exlsi shares gains 5 percent on strong September quarter earnings

Tata Exlsi shares gains 5 percent on strong September quarter earnings
Thursday, October 15, 2020
Shares of design and technology services provider Tata Elxsi on Thursday rose by over 5 per cent and hit a record high of Rs 1,533.55 on the BSE in early trade on the stock exchange after the company reported a 58.3 per cent increase in net profit to Rs 78.8 crore for the September quarter. It had reported a net profit of Rs 49.8 crore in the year-ago period, The company's operational revenues grew 11.5 per cent YoY at Rs 430 crore from Rs 385.8 crore in the corresponding period a year ago. The company’s growth was driven by both its key businesses – Embedded Product Design (EPD) and Industrial Design & Visualisation (IDV). Read more

BOT highway projects: Govt targets bidding out six projects by April 2022

BOT highway projects: Govt targets bidding out six projects by April 2022
Saturday, October 10, 2020
The government is reviving the build-operate-transfer (BOT) model of getting private investment into highway construction after a gap of more than two years. The government is targeting to bid out six projects by April 2022. The first project to go off the block would be around 70 km, costing over Rs 1,700 crore, in Karnataka. The National Highways Authority of India (NHAI) is expected to invite bids for it later this month. The Karnataka project would be the first BOT offering after the government brought in the new model concessionaire agreement in order to attract private investment. The last BOT project – Hapur-Moradabad highway – was awarded in March 2018 to IRB Infrastructure Developers for approximately Rs 3,400 crore, according to sources.

BSE listed companies' market-cap hits record high

BSE listed companies' market-cap hits record high
Friday, October 9, 2020
The total market capitalisation of BSE-listed companies touched a new high of Rs 160.68 trillion today(9th Oct.2020), led by RIL, information technology (IT), and pharmaceutical stocks. Investor wealth of BSE-listed firms, measured by market capitalisation (m-cap), saw a previous record high of Rs 160.57 trillion, scaled on January 17, 2020. At 02:40 pm, the benchmark S&P BSE Sensex traded at 40,526 points. The index is just 4 percent away from its all-time high level of 42,273.87, touched on January 20, 2020. The S&P BS Sensex, however, ended the day at 40,509 levels - up 327 points, 0.8 percent. On the other hand, the S&P BSE Midcap and the S&P BSE Smallcap index are over 20 percent away from their respective record high levels hit during January 2018.

Vedanta falls 6% as HC refuses to reopen Sterlite copper plant

Vedanta falls 6% as HC refuses to reopen Sterlite copper plant
Tuesday, August 18, 2020
Shares of Vedanta Limited dropped 6 per cent to Rs 120.20 on the BSE after the Madras High Court refused to allow reopening of Sterlite copper smelting plant in Tamil Nadu's Thoothukudi. The High Court upheld the Tamil Nadu government's order of May 2018, which directed the closure of Vedanta's facility. The judgment was pronounced on August 18 by a Division Bench of Justices TS Sivagnananam and Bhuvani Subbaroyan. Vedanta Limited had moved the court challenging the state government's closure order against its Sterlite Copper Plant on May 28, 2018. The Thoothukudi Sterlite copper smelting plant remains shut since April 9, 2018, after the Tamil Nadu Pollution Control Board (TNPCB), through an order dated April 9, 2018, rejected the Consent to Operate (CTO) for the plant and issued a direction for closure and disconnection of power supply at the plant. 13 people were allegedly shot dead by the police on May 22, 2018 during a protest against the plant. Read more

Tata Consumer Products hits new high after Q1 results

Tata Consumer Products hits new high after Q1 results
Wednesday, August 5, 2020
Tata Consumer Products' shares hit an all-time high of Rs 471.70 apiece on Wednesday after the Tata Group FMCG major reported a robust June quarter, with net profit rising 82 per cent year-on-year (YoY) to Rs 346 crore helped by an increase in demand in some categories. The company posted a net profit of Rs 190.09 crore in April-June a year ago. Revenue from operations was up 13.44 per cent to Rs 2,713.91 crore during the quarter as against Rs 2,392.36 crore in the corresponding period of the last fiscal. Tata Starbucks' operations for Q1 were adversely impacted due to COVID-19. As of June 30 2020, close to 60 per cent of the total 186 stores have reopened, it said. The company has acquired 50 per cent stake of PepsiCo India in NourishCo Beverages Ltd, making it a wholly-owned subsidiary with effect from May 18, 2020, and hence TCPL has shown a gain of Rs 84 crore. Read more

Mphasis rallies 20% after June quarter profit rises to Rs 264

Mphasis rallies 20% after June quarter profit rises to Rs 264
Friday, July 24, 2020
Shares of Mphasis rallied 20 per cent to Rs 1,174.7,hits fresh 52 Week high on the BSE on Friday after the company’s April-June quarter (Q1FY21) earnings came in-line with Street estimate. The company reported a 3.9 per cent increase in consolidated net profit at Rs 275.1 crore in the June 2020 quarter. Its net profit stood at Rs 264.6 crore in the year-ago period, Mphasis said in a regulatory filing. The company’s revenue from operations grew 10.9 per cent to Rs 2,288.2 crore in the quarter under review from Rs 2,062.5 crore in the year-ago period. The company announced new TCV (total contract value) wins of USD259m in 1QFY21 in Direct International. This is the highest ever TCV win for a quarter for Mphasis and comprises one large deal win of over USD100m TCV. Read more

Larsen & Toubro stock surges 7% after construction arm bags order from NHAI

Larsen & Toubro stock surges 7% after construction arm bags order from NHAI
Tuesday, June 23, 2020
Shares of Larsen & Toubro (L&T) were trading higher for the fourth straight day on Tuesday. The stock jumped 7 per cent to Rs 970 in intra-day deal on the BSE after the company bagged large contracts worth more than Rs 2,500 crore. In the past four trading days, the stock has rallied 9.5 per cent from Rs 884.55 on June 17. The value of a 'large' order ranges in the range of Rs 2,500 to Rs 5,000 crore. The company's Transportation Infrastructure business secured an EPC contract to construct Packages 11 and 22 of the Delhi Vadodara Expressway, which when completed, will be the country's longest expressway of National Highways Authority of India under its flagship Bharat Mala program, the company said in a filing to the exchanges.The company also secured an EPC contract from the state government for the reconstruction of the four-lane Tallah road overbridge in West Bengal. The company has also inked a pact with KBR to build modular process plants for refinery and petrochemical projects.

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