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Closing Bell: Sensex, Nifty end flat; metal, realty down, banks shine
Market Close | Sensex, Nifty end flat
Indian benchmark indices ended flat in the rangebound trading session on September 3. At close, the Sensex was down 4.40 points or 0.01 percent at 82,555.44, and the Nifty was up 1.10 points at 25,279.80.
We wrap up today's edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.
Osho Krishan, Senior Analyst - Technical & Derivatives, Angel One
The Indian equity markets started the session on a flat note with the benchmark index struggling to continue its positive stature. Led by a narrow range-bound move, the Nifty50 index managed to extend its winning streak but only by a whisker. The index settled the session just one point higher at 25280.
From a technical standpoint, the market levels have seen little alteration, with the Nifty index fluctuating within a narrow range of about 90 points without a clear trend. Additionally, the market breadth suggests a strong tug of war between the Bulls and Bears.
Looking ahead, 25200 is poised to act as a key support for the benchmark, while a solid support zone is expected within the 25100-25000 range. On the higher end of the spectrum, 25350-25400 is anticipated to act as intermediate resistance, followed by the sturdy hurdle of 25500 in the comparable period.
Looking ahead, it is crucial to monitor the recent movement in the high beta index BankNifty, as any potential increase in buying activity following a prolonged consolidation phase could inject the necessary momentum into the markets. Nonetheless, given the apparent fatigue in the benchmark index, it's essential to adopt a pragmatic approach.
Prashanth Tapse, Senior VP (Research), Mehta Equities
Markets ended flat in a lacklustre trading session as investors exercised caution on the back of weak Asian and European cues. Also the markets have been hitting new highs in the recent upsurge and hence investors are a bit sceptical about taking further bullish bets.
Vinod Nair, Head of Research, Geojit Financial Services
Amid mixed global signals and the absence of significant new catalysts, aside from the anticipated Fed rate cut, which is already factored in, the domestic market took a breather. Mild caution emerged due to a recent slowdown in manufacturing activities, which indicates a slowdown in demand. However, predictions of an above-normal monsoon extending through September and accelerated capex by the GoI in the H2FY25 boosted consumption and rural based stocks like FMCG stocks.
Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas
Nifty opened on a flat note and consolidated during the day to close marginally in the green up ~1 point. On the daily charts we can observe that the Nifty has been inching higher steadily helped by sector rotation. We shall continue to ride the upmove.
On the upside we expect Nifty to target levels of 25500. On the downside the crucial support base is placed at 25160 – 25120 where the key hourly moving averages are placed. We shall continue to ride the upmove with a trailing stoploss mechanism.
The Bank Nifty has finally showed some spark and is now inching higher towards 51950 - 52000 zone which coincides with the 61.82% Fibonacci retracement level. The support base shifts higher towards 51300 – 51200 from short term perspective.
Currency Check | Rupee closes lower
Indian rupee ended lower at 83.96 per dollar on Tuesday versus Monday's close of 83.92.
Market Close | Sensex, Nifty end flat; metal, realty down, banks shine
Indian benchmark indices ended flat in the rangebound trading session on September 3.
At close, the Sensex was down 4.40 points or 0.01 percent at 82,555.44, and the Nifty was up 1.10 points at 25,279.80. About 1909 shares advanced, 1857 shares declined, and 113 shares unchanged.
Top Nifty gainers were SBI Life Insurance, ICICI Bank, HDFC Life, Shriram Finance and Bajaj Finserv, while losers were ONGC, Infosys, Bajaj Finance, JSW Steel and Adani Ports.
Among sectors, bank and capital goods indices were up 0.5 percent each, while media, power, metal, realty and oil & gas down 0.5-1.5 percent.
The BSE midcap index ended with marginal gains and the smallcap index rose 0.5 percent.
Sudarshan Chemical Share Price LIVE Today | Company in race for coatings & pigments maker Heubach GmbH
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| ICICI Bank | 1,250.25 | 1.65 | 16.24m |
| HDFC Bank | 1,638.85 | 0.73 | 16.57m |
| Axis Bank | 1,193.00 | 0.35 | 6.46m |
| SBI | 824.80 | 0.32 | 9.58m |
| Kotak Mahindra | 1,785.15 | 0.28 | 4.78m |
| IDFC First Bank | 75.04 | 0.04 | 17.90m |
Brokerage Call | Morgan Stanley keeps 'overweight' call on Kaynes Technologies, target Rs 3,845
#1 Government approval for Kaynes Semicon Semiconductor plant in Gujarat is positive
#2 The pending government approval remained an area of investor concern
#3 Company had earlier indicated that its OSAT venture could garner incremental potential revenue
Brokerage Call | HSBC maintains 'reduce' rating on Rallis India, target Rs 251
#1 Tuning business model to play on strengths, a well-executed plan can bolster competitive position
#2 Planning to double domestic CP market share
#3 Company plans to seed revenue over next 4-5 years; turning selective on exports
#4 Maintain reduce given industry headwinds
Markets@3 | Sensex, Nifty trade flat
The Sensex was up 43.99 points or 0.05 percent at 82,603.83, and the Nifty was up 15.60 points or 0.06 percent at 25,294.30.
IPO Check | Gala Precision Engineering IPO subscribed 40.31 times on Day 2
QIB – 4.59 times
NII – 95.83 times
Retail – 36.63 times
Employee Reserved – 95.51 times
Overall – 40.31 times
IPO Check | Baazar Style Retail IPO subscribed 20.95 times on Day 3
QIB – 24.46 times
NII – 47.30 times
Retail – 7.60 times
Employee Reserved – 31.76 times
Overall – 20.95 times
Quess Corp Share Price Today | Stock snaps four-day fall to hit 52-week high on demerger update, staff addition
Shares of staffing company Quess Corp have snapped a four-day losing streak to rise nearly 7 percent and test the 52-week high of Rs 824 on September 3, on the back of higher manpower addition and the likelihood of completion of demerger by this fiscal. Read More
IPO Check | Kross Ltd's Rs 5 billion India IPO to open on Sept 9 and closes on Sept 11
JM Financial Share Price Today | Share price at highest level in four levels
Jindal Stainless Stock Price LIVE Today | 5.14 million shares traded in a two blocks: Bloomberg
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| HFCL | 154.00 | 4.3 | 3.08m |
| Sterlite Techno | 132.85 | 1.3 | 45.13k |
| Avantel | 174.95 | 1.21 | 162.04k |
| INDUS TOWERS | 443.45 | 1.07 | 85.51k |
| GTL Infra | 2.63 | 0.77 | 16.41m |
| Vodafone Idea | 15.16 | 0.73 | 18.18m |
| Tata Comm | 1,976.35 | 0.6 | 13.31k |
| MTNL | 59.62 | 0.24 | 308.32k |
| Tejas Networks | 1,343.95 | 0.19 | 9.67k |
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Optiemus Infra | 560.40 | -1.29 | 21.29k |
| Railtel | 494.05 | -1.15 | 156.69k |
| Bharti Airtel | 1,564.20 | -0.59 | 46.13k |
| TataTeleservice | 95.51 | -0.39 | 1.52m |
| ITI | 301.80 | -0.31 | 27.11k |
| OnMobile Global | 83.20 | -0.12 | 27.05k |
Stock Market LIVE Updates | Signature Global shares trade lower post Rs 828.2 crore block deal
57.2 lakh shares (4.1 percent equity) worth Rs 828.2 crore of Signature Global change hands at Rs 1,449 per share in the morning trade.
Share Market Today | Spot USDINR to trade between 83.75-84.20
Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas
Indian Rupee depreciated today on positive US Dollar and overnight gains in crude oil prices. However, FII inflows cushioned the downside.
We expect Rupee to trade with a slight negative bias on positive tone in the US Dollar and a correction in the domestic markets. However, fresh FII inflows may support the Rupee.
Traders may take cues from ISM manufacturing PMI data from US today and jobs data later this week. USDINR spot price is expected to trade in a range of Rs 83.75 to Rs 84.20.
Stock Market LIVE Updates | Sammaan Capital shares down for eight straight session
D-Link India Share Price Live Today | Shares gains 11%, most in eight weeks
Stock Market LIVE Updates | Godrej Industries records fresh all-time high, jumps 7% on heavy volumes
Godrej Industries surged seven percent in trade on September 3, as heavy trading volumes caused the counter to record a fresh all-time high. Over 12 lakh shares exchanged hands in trade on the bourses, over 300 percent higher than the one-month daily traded average of four lakh shares. READ MORE
Stock Market LIVE Updates | FIEM Industries shares rise 5% as Kotak initiates coverage with a 'Buy'
Shares of FIEM Industries - makers of automotive lighting - soared around 5 percent after Kotak Securities initiated coverage on with a 'Buy' call and a price target of Rs 2,140 on the stock, nearly 40 percent higher from previous close. FIEM's product portfolio is versatile across different technologies, Kotak's note said, implying the rise in electric vehicle adoption may not disrupt the auto components maker's business. READ MORE
AU Small Finance Bank Share Price Live | 11 million shares traded in a block: Bloomberg
IPO Check | Baazar Style Retail IPO subscribed 11.48 times on Day 3
QIB – 4.06 times
NII – 32.86 times
Retail – 6.49 times
Employee Reserved – 29.47 times
Overall – 11.48 times
IPO Check | Gala Precision Engineering IPO subscribed 31.64 times on Day 2
QIB – 4.5 times
NII – 68.75 times
Retail – 30.95 times
Employee Reserved – 84.58 times
Overall – 31.64 times
Brokerage Call | Citi keeps 'sell' rating on Tech Mahindra, target Rs 1,260
#1 Growth is still difficult in the current environment
#2 BFSI is improving but it is slow & gradual
#3 There are 10-15 actions in play to drive margin
#4 Focus is on costs to drive margins initially followed by pyramid optimisation
#5 Some part of the margin improvement will be invested back
#6 Wage hikes to be reviewed in October
Star Health Share Price Today | 3.76 million shares change hands in two bunches: Bloomberg
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Zee Entertain | 137.76 | -2.99 | 12.94m |
| Sun TV Network | 804.80 | -0.7 | 249.71k |
| Dish TV | 14.52 | -0.62 | 4.45m |
| Network 18 | 93.80 | -0.52 | 1.95m |
| TV TodayNetwork | 272.65 | -0.05 | 165.97k |
Stock Market LIVE Updates | Vedanta announces third interim dividend
Mining major Vedanta Ltd on September 2 said its board approved third interim dividend of Rs 20 per share for FY25.
"The Board of Directors of Vedanta Limited, at its meeting held today i.e. Monday, September 2, 2024, has considered and approved the third Interim Dividend of Rs 20 per equity share on face value of Re 1 per equity share for the Financial Year 2024-25 amounting to Rs 7,821 crore," said Vedanta in a stock exchange filing.
The record date for the purpose of payment of dividend shall be September 10, 2024.
Markets@1 | Sensex, Nifty trade flat
The Sensex was down 21.80 points or 0.03 percent at 82,538.04, and the Nifty was down 2.70 points or 0.01 percent at 25,276.00. About 1796 shares advanced, 1558 shares declined, and 72 shares unchanged.
Mangalam Organics Share Price Today | Promoter buys 3,29,019 equity shares
Godrej Industries Share Price Today | Stock price gains most in 11 months
IPO Prediction | Expect decent listing gains from ECOS India IPO
Prashanth Tapse, Senior VP (Research), Mehta Equities
Despite valuations placed slightly on the higher side and 100% OFS, ECOS India managed to receive a healthy response on the last day of the issue from all types of investors especially from QIB Category who demanded 136x times to the limit.
We believe the investor demand has come considering the company's asset-light model, extensive network across 109 cities and strong relationships with Fortune 500 and BSE 500 companies position it well to capitalize on the growing corporate mobility market and its presence in high-growth sectors like IT, healthcare and e-commerce underscore its potential for continued growth.
Considering market mood and sectorial high-growth factors, we can expect a decent listing gain over and above 20% against the issue price of Rs 334 per share. We had recommended our investors to “SUBSCRIBE WITH RISK” which can generate decent listing gains over and above 20% on the issue price on the back of market optimism.
Post listing, on valuation front, it can move from reasonable valued to stretched valuations which would be reason for profit booking attempts at high levels.
Share Market News | Nilesh Shah of Kotak MF at CII event
Happiness, dharma, and governance are linked to savings. As Indians we know how to save, but when it comes to investment there is scope for improvement.
90 percent of investments went to assets which were not making real returns. Only 7 percent of allocation went to assets which were making real returns.
Share Market News | Vishal Kampani, JM Financial at CII event
The transition should not create wealth for select people. Therefore, it is important to go long term. It is important to have strict rules for traders, so it improves the market infrastructure.
In my career I have never seen this kind of strength in primary markets. Every single IPO we do today, domestic investors are leading the way. Domestic investors are MFs, family offices, etc. Back in COVID 19, the foreign investors were leading in IPOs.
The OFS YTD number is Rs 87,000 crore (selling). A large part of this number is being invested back in equity markets.
IPO Check | Baazar Style Retail IPO subscribed 8.96 times on Day 3
QIB – 0.88 times
NII - 26.55 times
Retail – 5.96 times
Employee Reserved - 28.26 times
Overall – 8.96 times
GACM Technologies Stock Price Live Today | Company promoter to increase their stake
The promoters and promoter group of GACM Technologies intend to increase their stake in the company by participation in preferential allotment of equity shares warrants as announced by the company.
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Mazagon Dock | 4,494.35 | 7 | 484.49k |
| Bombay Burmah | 2,625.85 | 6.82 | 34.91k |
| Quess Corp | 819.75 | 6.27 | 36.28k |
| Godrej Ind | 1,127.15 | 6.25 | 36.77k |
| Poly Medicure | 2,494.05 | 4.94 | 10.30k |
| Gland | 1,916.35 | 4.53 | 26.92k |
| Prism Johnson | 172.55 | 4.45 | 88.30k |
| Kaynes Tech | 4,856.90 | 4.29 | 57.57k |
| SBI Card | 773.80 | 4.01 | 164.70k |
| Sanofi India | 7,069.25 | 3.67 | 2.57k |
Stock Market News | World Bank raises India’s FY25 growth forecast to 7% from 6.6% earlier
#1 India’s medium-term growth will remain strong
#2 India’s growth will remain strong at 7 percent in FY25
#3 Indian economy will grow at an average of 6.7 percent over FY26-FY27
KPI Green Stock Price Today | Arm gets LoI to set up solar power projects with 7 MW capacity
Zee Entertainment Enterprises stock price | Shiva Chinnasamy appointed as Chief Technology & Product Officer of company, effective Sept 2
Welspun Corp stock price today | Company subsidiary to invest for upgradation of pipes manufacturing
The board has approved an investment of USD 100 million by the company’s subsidiary, Welspun Pipes Inc., for the upgradation of HFIW (high-frequency induction welding) pipes manufacturing and coating capability in the USA.
This investment will be funded through local debt and internal accruals and will be spread over 18 months.
Medplus Health Services Share Price Today | Stock price jumps on stay order to suspension of Vikhroli store
The company has received a stay order against the suspension order dated May 22, 2024 of store situated at Patidar Complex - Vikhroli, Maharashtra, from the appropriate authority.
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Hero Motocorp | 5,660.00 | 1.47 | 338.54k |
| Nestle | 2,539.80 | 1.19 | 384.32k |
| Wipro | 538.45 | 1.13 | 4.43m |
| HUL | 2,816.10 | 0.97 | 882.56k |
| Sun Pharma | 1,833.50 | 0.97 | 1.11m |
| TATA Cons. Prod | 1,209.60 | 0.83 | 843.65k |
| Tech Mahindra | 1,657.35 | 0.65 | 782.12k |
| M&M | 2,793.75 | 0.6 | 704.37k |
| Divis Labs | 5,064.50 | 0.55 | 128.61k |
| SBI Life Insura | 1,898.55 | 0.52 | 1.19m |
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Bajaj Finance | 7,295.40 | -1.94 | 765.63k |
| JSW Steel | 933.80 | -0.71 | 509.47k |
| Adani Ports | 1,484.00 | -0.7 | 394.49k |
| Britannia | 5,881.05 | -0.69 | 92.83k |
| BPCL | 356.15 | -0.64 | 3.70m |
| Bajaj Finserv | 1,828.80 | -0.64 | 1.31m |
| Hindalco | 679.60 | -0.63 | 2.23m |
| Axis Bank | 1,181.35 | -0.63 | 1.68m |
| Bharti Airtel | 1,562.45 | -0.57 | 1.78m |
| Infosys | 1,955.80 | -0.44 | 1.82m |
Stock Market LIVE Updates | NMDC's iron ore production in August fell 10%
Iron ore production in August fell by 10% year-on-year to 3.07 million tons, and sales declined by 11.3% to 3.14 million tons.
Premier Energies share price today | Shares fall 12% post robust listing
Brokerage Call | Antique maintains 'buy' rating on HAL, target Rs 6,145
#1 Cabinet clears procurement of Rs 26,000 crore order for 240 aero engines of SU-30 MKI aircraft
#2 Order will further bolster company's already strong order backlog of Rs 94,000 crore (FY24 End) to Rs 1.2 lakh crore
#3 Strong order backlog will lead to strong revenue visibility of 3.8x its TTM revenue
#4 Near-term financials may seem a bit volatile
#5 Company has been facing challenges to execute the large Tejas MK I A orders
#6 Believe that stock is attractively valued with multi-year double-digit earnings growth potential
#7 Stock looks attractively valued with robust return ratio profile of +20 percent
Samvardhana Motherson Share Price Today | Company planning to raise USD 1 billion via QIP: CNBC-TV18
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Hindustan Aeron | 4,844.50 | 3.38 | 80.22k |
| Suzlon Energy | 75.74 | 2.64 | 1.79m |
| SKF India | 5,339.00 | 2.41 | 1.38k |
| Timken | 3,872.30 | 2.24 | 2.29k |
| AIA Engineering | 4,407.95 | 2 | 1.56k |
| V-Guard Ind | 460.25 | 1.65 | 9.85k |
| Honeywell Autom | 50,925.10 | 1.63 | 59 |
| ABB India | 7,813.90 | 1.5 | 2.45k |
| Bharat Forge | 1,583.00 | 1.39 | 9.74k |
| Thermax | 4,419.95 | 0.88 | 782 |
IPO Check | Bajaj Housing Finance sets price band of Rs 66-70 a share for its IPO
Bajaj Housing Finance Ltd has set a price band of Rs 66-70 a share for its initial public offering that will start on September 9.
The anchor bidding will start on September 6 and the issue will close on September 11. Basis of allotment will be on September 12, refunds will be made on September 13 and the stock will list on exchanges on September 16.
Stock Market LIVE Updates | How brokerages value Reliance Industries' business segments
Reliance Industries Ltd has unveiled an ambitious roadmap to double its earnings by 2030, driven by expansion in its core oil-to-chemicals business, an aggressive push into digital and retail segments, and a renewed focus on new energy ventures. After evaluating the plans outlined at RIL’s 47th annual general meeting, brokerages have maintained a positive outlook on India’s largest conglomerate, assigning new valuations to each segment. READ MORE
Stock Market LIVE Updates | Hindustan Composites shares surge on Swiggy stake acquisition announcement
Shares of Hindustan Composites Ltd rose over 9 percent in early trade after the company announced its acquisition of a stake in Swiggy Ltd, an Indian online food ordering and delivery platform. At 10.45 am, shares of Hindustan Composites traded over 6 percent higher at Rs 618. The stock has gained 45 percent in the past six months, outperforming the Nifty 50 index which rose 12 percent during the same period. READ MORE
Stock Market LIVE Updates | Mazagon Dock, GRSE others rally on hopes of DAC's nod for new naval warships
Shares of major shipyard companies like Mazagon Dock and Cochin Shipyard are higher by up to 6 percent on September 3, in anticipation of an announcement of sizeable naval defence orders. CNBC-Awaaz reported citing sources that the Defence Acquisition Council (DAC) - the apex body on defence-related procurements - is expected to approve deals worth Rs 1.3 lakh crore, including orders for seven naval warships. The order for new warships is expected to be to the tune of Rs 70,000 crore, sources told the TV channel. READ MORE
TCS partners with Google Cloud to launch AI-powered cybersecurity solution
Markets@11 | Sensex, Nifty trade lower
The Sensex was down 86.91 points or 0.11 percent at 82,472.93, and the Nifty was down 26.40 points or 0.10 percent at 25,252.30. About 1793 shares advanced, 1440 shares declined, and 98 shares unchanged.
Munjal Auto Share Price | Munjal Auto gets demand notice from Haryana GST Department
The company has received demand notice/order issued by Haryana GST Department for the period April 2019 - March 2020 on various grounds. The total demand amount mentioned is Rs 6.76 crore.
Stock Market LIVE Updates | GE Power enters into a settlement agreement with Navayuga Engineering
Garden Reach, Mazagaon and Cochin Ship in focus on possible approval for Rs 70000 crore for the navy warships: CNBC-Awaaz
Prashanth Tapse, Senior VP (Research), Mehta Equities
As expected with strong subscription response, Premiere Energy's listing was in line with our assumption considering reasonable valuations before listing, well-positioned to capitalize the industry demand in renewable energy and an opportunity to invest in India's second-largest integrated solar cell and module manufacturer.
Post listing considering 120 percent listing gain on valuation front has moved from reasonability valued to stretched valuations which would be reason for profit booking attempts at high levels.
We continue to recommend conservative investors to choose profit booking, while risk takers can continue holding for long term as the sector outlook remains optimistic.
Given the company's strategic alignment with government initiatives promoting domestic solar production, alongside its diversified customer base and recognition as a top performer in module reliability, suggests a promising future. In the long run we believe the market could give a premium multiple towards its leadership position.
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Gokul Agro | 275.70 | 8.61 | 137.62k |
| Bombay Burmah | 2,630.25 | 7 | 12.81k |
| Chaman Lal Seti | 236.60 | 3.61 | 7.25k |
| Kaveri Seed | 1,075.00 | 3.61 | 11.55k |
| Tilaknagar Ind | 291.80 | 3.22 | 123.44k |
| Emami | 830.60 | 2.47 | 8.94k |
| KRBL | 312.00 | 1.98 | 86.41k |
| Zydus Wellness | 2,239.15 | 1.91 | 2.55k |
| Bikaji Foods | 857.10 | 1.9 | 12.41k |
| Hindustan Foods | 582.00 | 1.7 | 4.03k |
Brokerage Call | CLSA keeps 'overweight' call on Zomato, target Rs 353
Stock Market LIVE Updates | Axiscades Technologies falls most in 15 weeks
Brokerage Call | Jefferies keeps 'underperform' rating on Alkem Labs, target Rs 5,080
#1 Management said that boosting operational margin will be the top priority in near-term
#2 Investments in new areas will take 2-3 years to bear results
#3 Company aims to be more active in M&A and in-licensing going forward
#4 New management plans to pursue profitable growth which will be realised via India, EM & CDMO business
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Poly Medicure | 2,495.00 | 4.98 | 4.41k |
| Blue Jet | 479.50 | 3.36 | 2.66k |
| Gland | 1,889.05 | 3.04 | 6.47k |
| Sanofi India | 6,999.30 | 2.64 | 1.44k |
| Bajaj Health | 394.90 | 2.54 | 5.16k |
| AstraZeneca | 6,849.60 | 2.39 | 159 |
| SOLARA ACTIVE P | 719.95 | 2.34 | 355 |
| Thyrocare Techn | 858.70 | 2.28 | 1.95k |
| Concord Biotech | 1,774.00 | 2.14 | 3.55k |
| Neuland Lab | 12,754.25 | 2.01 | 295 |
Stock Market LIVE Updates | Hindustan Composites enteres in share purchase agreement with Swiggy
The company has entered into a Share Purchase Agreement with Swiggy to acquire its 1.5 lakh equity shares of Re 1 each by making an investment of Rs 5.175 crore.
Stock Market LIVE Updates | Muthoot Finance arm gets SEBI appproval for IPO
Microfinance subsidiary Belstar Microfinance has received approval from the market regulator SEBI to launch its IPO. Belstar plans to raise Rs 1,000 crore via a fresh issue and Rs 300 crore through an offer-for-sale.
Stock Market LIVE Updates | Aadhar Housing Finance sprints 5% on Kotak Securities 'buy' coverage, forecasts 41% upside
Shares of Aadhar Housing Finance rallied over 5 percent to Rs 411 apiece on September 3 after Kotak Securities initiated a 'buy' coverage on Aadhar Housing and set target price at Rs 550 apiece, implying an upside potential of 41 percent from current levels.
The bullish coverage comes as analysts believe that it is one of large diversified player with over 20 percent growth trajectory. Moreover, they said that the company distinguishes itself from most of its affordable housing finance peers with a larger balance sheet, longer history, and superior return on equity (RoE). Read More
Stock Market LIVE Updates | Siddhartha Bhaiya sells 0.6% stake in Vibrant Global Capital
Investor Siddhartha Bhaiya sold a 0.6% stake in Vibrant at an average price of Rs 78.02 per share, valued at Rs 1.08 crore.
IPO Listing | Jay Bee Laminations shares soar on debut after 90% premium on NSE SME
Shares of Jay Bee Laminations were off to a roaring start on its stock market debut on September 3 after listing it at Rs 277, a premium of 90 percent over the issue price of Rs 146 per share on the NSE SME platform.
The listing gains, however, miss grey market estimates were shares were trading at a premium of 107 percent. The grey market is an unofficial ecosystem where shares start trading much before the offer opens for subscription and continue to trade till the listing day. Read More
IPO Listing | Vdeal System shares debut with 51% premium over IPO price on NSE SME
Shares of Vdeal System were off to a robust start on its stock market debut on September 3 after listing at Rs 170, a premium of 51.79 percent over the issue price of Rs 112 per share on the NSE SME platform.
The listing gains top grey market estimates were shares were trading at a premium of 26 percent. The grey market is an unofficial ecosystem where shares start trading much before the offer opens for subscription and continue to trade till the listing day. Read More
Premier Energies Lising | Share price beats GMP estimate
Shares of Premier Energies were off to a roaring start on its stock market debut on September 3 after listing at Rs 991, a massive premium of 120 percent over the IPO issue price of Rs 450 per share.
The listing gains are above the grey market estimates where shares were trading at a premium of 108 percent. The grey market is an unofficial platform for IPO share trading before the official listing. Read More
Markets@10 | Sensex down 100 pts, Nifty around 25,250
The Sensex was down 102.37 points or 0.12 percent at 82,457.47, and the Nifty was down 25.50 points or 0.10 percent at 25,253.20. About 1893 shares advanced, 1169 shares declined, and 103 shares unchanged.
Stock Market LIVE Updates | Baroda BNP Paribas MF buys 0.98% stake in TCNS Clothing Company
Baroda BNP Paribas Mutual Fund has bought a 0.98% stake in TCNS at an average price of Rs 576.14 per share, valued at Rs 35.95 crore. However, Morgan Stanley Asia Singapore Pte sold a 0.53% stake at an average price of Rs 574.64 per share, amounting to Rs 19.4 crore.
Stock Market LIVE Updates | HDFC Mutual Fund sells 1.16% stake in Sadbhav Engineering
HDFC Mutual Fund sold a 1.16% stake in Sadbhav at an average price of Rs 33.13 per share, amounting to Rs 6.6 crore.
Sensex Today | Balrampur Chini Mills, Hindustan Copper are among under F&O Ban
Stock Market LIVE Updates | Garment Mantra Lifestyle trades ex-bonus today
Sensex Today | Deepak Fertilisers, Fineotex Chemical, Ganesha Ecosphere, Goa Carbon, among others trade ex-dividend
Deepak Fertilisers, Fineotex Chemical, Ganesha Ecosphere, Goa Carbon, Ion Exchange, The Indian Wood Products Company, Karnataka Bank, Lehar Footwears, Lakshmi Automatic Loom Works, Sakthi Finance, Savera Industries, Tamboli Industries, Tribhovandas Bhimji Zaveri, Vinati Organics, ZF Steering Gear
Sanjiv Bajaj at CII event
India is driven by not only by domestic opportunity but also global ones. The question is how do we prepare ourself for this?
To meet the aspirations of 1.4 billion people, we need more capital. Even the investor is seeing India as a global opportunity, in this GIFT City will play an important role in providing capital.
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Matrimony.com | 816.65 | 9.61 | 21.51k |
| Kaynes Tech | 5,010.10 | 7.58 | 34.34k |
| VRL Logistics | 565.75 | 7.05 | 12.08k |
| Kanoria Chem | 131.95 | 6.76 | 11.42k |
| Jindal Drilling | 685.00 | 5.89 | 5.07k |
| 63 Moons Tech | 359.95 | 4.99 | 908 |
| Monarch Net | 831.00 | 4.98 | 3.56k |
| ALLSEC Tech | 1,182.35 | 4.95 | 410 |
| Primo Chemicals | 42.48 | 4.27 | 161.54k |
| Tilaknagar Ind | 294.00 | 4 | 41.73k |
SME Listing | Indian Phosphate, Vdeal System, Jay Bee Laminations to list on SME platform today
Stock Market LIVE Updates | VRL Logistics shares gain most in 12 weeks
Stock Market LIVE Updates | Motilal Oswal pours in Rs 210 crore into PTC Industries stock
Industrial manufacturing company PTC Industries Ltd has raised Rs 700 crore via a qualified institutional placement, with Motilal Oswal alone buying equity shares worth over Rs 210 crore across its two funds.
HSBC and Societe Generale are among the other big investors in the issue.
PTC Industries issued 5.3 lakh equity shares to QIB investors (qualified institutional bidders) at an issue price of Rs 13,199.7 per share, the company said in a stock exchange filing 3 September. The issue price was at a 5 percent discount to the floor price of Rs 13,894.42. Read More
Stock Market LIVE Updates | Govt approves Rs 3,300 crore chip proposal by Kaynes under semiconductor scheme
The Cabinet has approved a Rs 3,300 crore proposal by electronics maker Kaynes to build a semiconductor packaging plant with a capacity to produce 60 lakh chips a day, Union minister Ashwini Vaishnaw said on September 2. Read More
Stock Market LIVE Updates | Gensol Engineering shares gain on contract win worth Rs 164 crore
Gensol and Matrix Gas & Renewables emerged as the lowest bidders for the EPC contract to develop a bio-hydrogen project for India’s leading power generation company. Through this project, the companies will convert 25 tons of bio-waste into 1 ton of hydrogen per day. The project is valued at Rs 164 crore.
