Rupak De, Senior Technical analyst at LKP Securities:
The Nifty remained under the bear's grip as selling pressure emerged around the day's high, resulting in a decline below 19500. On the upper side, resistance is expected to persist in the range of 19450-19500. A definitive breakout or a closing above 19500 could potentially trigger a rally in the index. On the lower side, there is immediate support at 19300; a drop below this level might lead to panic in the market.
Hareesh V, Head of Commodities at Geojit Financial Services:
The ongoing geopolitical and economic uncertainties like higher inflation, China economic jitters, and the pandemic-related economic distortions amid the Russia – Ukraine war continue to offer support to the safe haven status of gold in the immediate run. Hopes of a demand recovery from India may also contribute to the trend. However, it is unlikely for major rallies due to uncertainties over US rate hikes and the performance of US assets.
Investors can cautiously increase their exposure to gold as prices corrected about 5 percent from their all-time highs and the key demand season is nearing, which may increase the demand and thus the price of the metal. In addition, a weak Indian Rupee also offers additional support to the yellow metal.
Kunal Shah, Senior Technical & Derivative analyst at LKP Securities:
The Bank Nifty index recently encountered selling pressure from elevated levels and is now displaying indications of range-bound trading. The range of movement seems to be established between 44000 and 45000, a zone where substantial put and call writing activities are evident. In the current scenario, the index's immediate support lies at 44200. If this support level is effectively maintained, the index could potentially experience a recovery, driving it towards levels of 44800 and 45000.
Dilip Parmar, Research Analyst, HDFC Securities:
The Indian rupee gained for the third day in a trot following short covering, capital inflows and lower commodity prices. The central bank’s intervention this week has also supported the Indian currency. In the near term, spot USDINR tested 82.35 support, which if breached can expose 82.20 while 82.80 will act as resistance.
Given that the risk environment is a little weak, the forex market could trade in the tight range. Ahead of tomorrow's main event of the week – speeches at the Fed's Jackson Hole symposium – attention today will be on the US job report.
Ajit Mishra, SVP - Technical Research, Religare Broking
Markets traded volatile on the weekly expiry day and ended in the red. After the initial gap-up opening, Nifty extended gains in early trades but selling pressure in heavyweights pushed the index lower as the day progressed. Eventually, it settled around the day’s low at 19386.70 level; down by 0.3%. Most sectors were aligned to the trend wherein energy and pharma were the top losers. Amid all, the broader indices traded mixed wherein the midcap index closed higher while the smallcap index ended marginally lower after making a new record high.
The move indicates that bears are not in the mood to lose their control and tone may deteriorate again on the break of 50 EMA i.e. around 19285. We have been maintaining a view stance to focus on stock selection amid choppiness and it is working well so far. Traders should avoid aggressive positions and prefer hedged trades until we see some clarity over the next directional move.
Shrikant Chouhan, Head of Research (Retail), Kotak Securities:
While markets were volatile in early trades, it turned rangebound with a negative bias thereafter and finally ended on a subdued note as investors are not taking any chances by betting big in an uncertain global economic environment.
Investors will continue to take cues from global markets for direction as nobody wants to get caught off guard in case of any negative developments.
Technically, the Nifty has formed a bearish candle, which is largely negative. For bulls, 19470 would act as an immediate resistance zone, and if the index is trading below the same, the weak sentiment is likely to continue and could retest the level of 19325-19300. On the flip side, post 19500 breakout the market could rally till 19600-19625.
Jateen Trivedi, VP Research analyst at LKP Securities:
Given the ongoing trend of global central banks acquiring gold and the uncertain global economic landscape, gold prices are anticipated to remain steady, if not rise significantly due to the impact of a stronger dollar and elevated interest rates. However, the trajectory could swiftly change. The moment the Federal Reserve hints at a potential pause in its rate hikes or even the possibility of an interest rate cut, gold prices are likely to surge.
Taking these factors into account, investors can reasonably project an optimistic outlook for gold, foreseeing price levels in the range of 61000 to 62000 by the close of the year. It's a strategic move that aligns with both the weakening rupee and the traditional buoyancy of the festive season in India. For investors seeking to accumulate gold, a strategic entry point lies between the current levels of 58500 and 57000.
Vinod Nair, Head of Research at Geojit Financial Services:
The US market exhibited a positive trend as declining US PMI ignited hopes of a prolonged rate pause, calming US bond yields. Optimism in the domestic market was more visible in the IT sector, though sentiments were reversed in other major sectors, likely influenced by the prevailing global uncertainties. Despite this, mid- and small-cap stocks demonstrated resilience, and the decline in bond yields facilitated a resurgence in foreign investor buying momentum.
Aditya Gaggar Director of Progressive Shares
The market began the weekly expiry day on a strong note at 19,540 and was seen compounding its gains with the help of banking counters; however, the Index failed to hold higher levels and started to correct. Selling pressure intensified in the second half of the trading session and the Index erased all its gains to trade in a negative territory. With a loss of 57.30 points, Nifty50 settled at 19,386.70.
On a sector-wise performance, the IT and FMCG held their gains while PSU Banking and Energy witnessed a correction. On an intraday basis, we have seen a whipsaw while on the daily chart, Nifty50 has made a bearish engulfing pattern which indicates a reversal.
Rupee Close:
Indian rupee ended 11 paise higher at 82.57 per dollar versus previous close of 82.68.
Market Close:
Benchmark indices ended lower in the volatile session on August 24 with Nifty below 19,400.
At close, the Sensex was down 180.96 points or 0.28 percent at 65,252.34, and the Nifty was down 57.30 points or 0.29 percent at 19,386.70. About 1725 shares advanced, 1768 shares declined, and 161 shares unchanged.
Top losers on the Nifty included Reliance Industries, Grasim Industries, ONGC, Power Grid Corp and JSW Steel, while gainers were BPCL, Asian Paints, IndusInd Bank, Infosys and Britannia Industries.
On the sectoral front, auto, capital goods, PSU Bank, oil & gas, pharma, metal shed 0.3-0.7 percent each, while Information Technology index up 0.5 percent.
The BSE midcap and smallcap indices ended on flat note.
Sensex Today | BSE Healthcare index down 0.5 percent dragged by NGL Fine Chem, Rainbow Childrens Medicare, Procter & Gamble Health
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| NGL Fine Chem | 2,191.20 | -8.41 | 5.01k |
| Rainbow Child | 1,076.45 | -4.52 | 12.82k |
| Procter&Gamble | 5,115.00 | -4.1 | 1.54k |
| AMI Organics | 1,324.25 | -3.39 | 16.47k |
| Ajanta Pharma | 1,711.10 | -3.06 | 2.21k |
| Max Healthcare | 564.70 | -2.81 | 74.11k |
| Indraprastha | 169.00 | -2.54 | 41.74k |
| Alembic Pharma | 746.65 | -2.41 | 6.65k |
| Jubilant Pharmo | 451.50 | -2.35 | 41.56k |
| Take Solutions | 18.41 | -1.81 | 46.87k |
Stock Market LIVE Updates | Jefferies View On Interglobe Aviation
-Underperform rating, target at Rs 2,070 per share
-Q1 benefited from multiple tailwinds, most of which appear reversing in Q2
-Sticky inflation, possible forex loss will also weigh on spreads in Q2
-Sharp drawdown in profitability QoQ leaves limited scope of upgrades
-Medium-term competition concerns remain
Sensex Today | Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas:
Indian Rupee gained for the third consecutive day on weakening US Dollar and easing crude oil prices. The rupee also gained on reports that the Reserve Bank of India asked banks not to indulge in short-term trading in the offshore markets. The dollar rose briefly yesterday on disappointing PMI data from the Eurozone and the UK but lost its initial gains on weaker-than-expected manufacturing and services PMI from the US.
We expect the Rupee to trade with a slight positive bias on extended weakness in the US Dollar and retreating crude oil prices. However, weak domestic markets may cap the upside. Traders may remain cautious ahead of weekly unemployment claims and durable goods orders data from the US while investors may remain cautious ahead of Fed Chair, Jerome Powell’s speech at Jackson Hole Symposium on tomorrow. USDINR spot price is expected to trade in a range of Rs 82.20 to Rs 82.85.
Stock Market LIVE Updates | Citi View On Reliance Industries
-Neutral rating, target at Rs 2,750 per share
-Investment by QIA cements Reliance Retail valuation in-line with estimate of USD 100 billion
-With Jio Financial listing, believe it could raise expectations of positive updates on final listing
Sensex Today | Aeroflex Industries IPO subscribed 81.36 times on final day
The Rs 351-crore initial public offering (IPO) of Aeroflex Industries continued to get a good response on August 24 as well, the final day of bidding, with the issue subscribed 81.36 times.
Investors had bid for 188.89 crore equity shares against the offer size of 2.32 crore, with the company probably enjoying the first-mover advantage in the flexible flow solutions industry. Healthy financial performance and improved debt-to-equity ratio also boosted investor confidence, analysts said.
High networth individuals bought 120.18 times their reserved portion, which is 15 percent of the IPO. Qualified institutional buyers (QIBs), who had 50 percent of the IPO set aside for them, had bid 148.15 times their quota.
Retail investors subscribed 30.68 times their allotted quota. Thirty-five percent of the shares have been set aside for retail investors.
Sensex Today | Nifty PSU Bank index shed 0.5 percnet dragged by Punjab & Sind Bank, J&K Bank, Bank of India
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Punjab & Sind | 36.35 | -2.81 | 5.78m |
| Bank of India | 88.15 | -1.56 | 7.77m |
| JK Bank | 90.15 | -1.37 | 4.15m |
| Indian Bank | 404.10 | -1.09 | 1.05m |
| Union Bank | 91.60 | -0.87 | 8.67m |
| PNB | 62.85 | -0.79 | 33.22m |
| UCO Bank | 32.95 | -0.75 | 29.50m |
| Bank of Baroda | 191.95 | -0.72 | 13.86m |
| Canara Bank | 331.55 | -0.32 | 5.19m |
| Bank of Mah | 39.55 | -0.25 | 34.52m |
Stock Market LIVE Updates | Bernstein View On SBI Cards & Payment Services
-Initiate underperform rating, target at Rs 650 per share
-Find SBI Cards to be stuck on wrong side of disruption
-Monoline credit card model faces rising margin pressure & limited room for other products
-Forecast earnings growth to fall from 30% last decade to 15% in next 5 years
-Expect no revival in revolvers & see continued pressure on fee margin
Bernstein View On One 97 Communications (Paytm):
-Initiate outperform rating, target at Rs 1,100 per share
-Early signs of edge in digital lending achieved by leveraging digital payments platform
-This puts Paytm on the right side of the disruption
-Expect Paytm’s loan disbursal volume to grow & achieve market share of 4% by FY26
-Paytm is stabilising margin in its payments segment
-Expect business to breakeven by FY25 & generate EPS of Rs 130 by FY30
Sensex Today | Market at 3 PM
The Sensex was down 142.98 points or 0.22 percent at 65,290.32, and the Nifty was down 45.30 points or 0.23 percent at 19,398.70. About 1598 shares advanced, 1538 shares declined, and 98 shares unchanged.
| Company | Price at 14:00 | Price at 14:51 | Chg(%) Hourly Vol |
|---|---|---|---|
| Sigma Solve | 459.60 | 438.00 | -21.60 453 |
| Omfurn India | 75.00 | 71.55 | -3.45 2.37k |
| Aarey Drugs | 48.00 | 46.00 | -2.00 3.38k |
| Niraj Cement | 37.90 | 36.50 | -1.40 2.68k |
| Industrial Inv | 108.00 | 104.10 | -3.90 422 |
| Nagreeka Export | 44.50 | 43.00 | -1.50 169 |
| Cineline India | 113.00 | 109.30 | -3.70 8.33k |
| MTAR | 2,388.95 | 2,312.00 | -76.95 70.90k |
| Trigyn Tech | 120.80 | 116.95 | -3.85 17.17k |
| Electronics Mar | 156.30 | 151.35 | -4.95 267.75k |
| Company | Price at 14:00 | Price at 14:44 | Chg(%) Hourly Vol |
|---|---|---|---|
| Greenchef | 110.10 | 124.80 | 14.70 39.08k |
| Richa Info | 68.00 | 73.80 | 5.80 0 |
| ACE Integrated | 34.15 | 36.40 | 2.25 83 |
| Bodhi Tree Mult | 136.10 | 144.00 | 7.90 32 |
| Genesys Int | 311.50 | 329.45 | 17.95 22.73k |
| Jai Balaji Ind | 204.00 | 215.00 | 11.00 69.88k |
| Bhageria Indu | 154.15 | 162.10 | 7.95 2.58k |
| HEC Infra Proje | 43.40 | 45.30 | 1.90 2.00k |
| Waterbase | 86.25 | 90.00 | 3.75 21.16k |
| Prataap Snacks | 883.15 | 918.75 | 35.60 1.22k |
Sensex Today | Gold hits 2-week highs as retreating US yields renew appeal
Gold prices climbed to two-week highs on Thursday as a retreat in the U.S. dollar and Treasury yields revived investors' appetite for bullion as they wait to see what interest rate signals central bankers offer at the Jackson Hole meeting.
Spot gold was up 0.3% at $1,920 per ounce by 0810 GMT, hitting its highest level since Aug. 10. U.S. gold futures were flat at $1,948.90.
Sensex Today | BSE Smallcap index up 0.5 percnet supported by Kopran, Bajaj Hindusthan Sugar, Prakash Industries
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Kopran | 224.60 | 17.96 | 296.90k |
| Bajaj Hindustha | 24.77 | 13 | 7.32m |
| Prakash Ind | 118.40 | 12.77 | 478.53k |
| Hariom Pipe | 626.20 | 10.29 | 56.11k |
| Optiemus Infra | 277.25 | 9.69 | 124.72k |
| Subex | 35.92 | 9.65 | 4.64m |
| TITAGARH | 787.50 | 9.16 | 166.33k |
| COFORGE LTD. | 5,361.00 | 9.15 | 461.31k |
| Centum Electron | 1,793.60 | 8.98 | 48.11k |
| Mukand | 170.00 | 8.97 | 67.38k |
Sensex Today | Aeroflex Industries IPO subscribed 46.36 times on final day
The Rs 351-crore initial public offering (IPO) of Aeroflex Industries continued to get a good response on August 24 as well, the final day of bidding, with the issue subscribed 46.36 times.
Investors had bid for 107.64 crore equity shares against the offer size of 2.32 crore, with the company probably enjoying the first-mover advantage in the flexible flow solutions industry. Healthy financial performance and improved debt-to-equity ratio also boosted investor confidence, analysts said.
High networth individuals bought 94.97 times their reserved portion, which is 15 percent of the IPO. Qualified institutional buyers (QIBs), who had 50 percent of the IPO set aside for them, had bid 45.84 times their quota.
Retail investors subscribed 26.85 times their allotted quota. Thirty-five percent of the shares have been set aside for retail investors.
Sensex Today | Dollar edges up ahead of Jackson Hole, Turkey rates in focus
The dollar edged up on Thursday as investors were cautious after softer-than expected economic data muddied interest rate outlook ahead of the Federal Reserve's Jackson Hole symposium, while the Turkish lira awaited for a central bank rate decision.
The safe-haven dollar index, which measures the greenback against a basket of six major currencies, rose 0.15% to 103.50, bouncing from Wednesday's drop, but was still set for a monthly rise.
On Wednesday, 10-year U.S. yields recorded their sharpest one-day slide in more than three months after data showed U.S. business activity growth in August was its weakest since February as the economy seems to be starting to stall.
Stock Market LIVE Updates | Nomura View On Sun Pharmaceutical Industries:
-Buy rating, target at Rs 1,313 per share
-Deuruxolitinib patent held invalid, no impact expected
-Have estimated peak sales in excess of $500 m & DCF value of asset at $400 m
-Have yet to factor in any rev upside from Deuruxolitinib in estimate for FY24-26
-Expect co to file for approval in near-term with potential approval & launch in FY25
-Risk is around safety & uncertainty on if co could gain approval for strength drugs
FY24 divestment aim of Rs 51,000 crore may fall short. Delay in IDBI Bank stake sale may impact divestment receipts, quoting Sources, reported CNBC-TV18.
Sensex Today | Market at 2 PM
The Sensex was down 74.22 points or 0.11 percent at 65,359.08, and the Nifty was down 24.70 points or 0.13 percent at 19,419.30. About 1689 shares advanced, 1424 shares declined, and 101 shares unchanged.
| Company | CMP Chg(%) | Today Vol 5D Avg Vol | Vol Chg(%) |
|---|---|---|---|
| COFORGE LTD. | 5,382.00 9.54% | 21.18m 402,931.40 | 5,156.00 |
| Keynote Finance | 134.20 16.85% | 707.93k 19,718.60 | 3,490.00 |
| S Chand and Co | 233.80 15.77% | 1.79m 55,265.20 | 3,140.00 |
| Thirumalai Chem | 216.85 6.17% | 5.28m 265,120.60 | 1,890.00 |
| Raj Rayon Ind | 45.95 -1.71% | 241.61k 13,031.80 | 1,754.00 |
| Jindal Photo | 368.60 9.51% | 148.03k 8,255.20 | 1,693.00 |
| Guj Amb Exports | 260.10 6.01% | 2.33m 170,990.60 | 1,261.00 |
| Airan | 22.10 4.99% | 2.87m 221,581.40 | 1,196.00 |
| SMVD Poly Pack | 12.20 -2.01% | 133.32k 10,504.00 | 1,169.00 |
| Rallis India | 228.70 4.93% | 3.78m 297,804.60 | 1,168.00 |
Stock Market LIVE Updates | Indian banks' growing share in payouts amidst global resilience
Indian banks are poised to increase their overall payout share to 13% by the fiscal year ending March 31, 2024, according to S&P Global Market Intelligence. This shows growth from 12% in the year ending March 31, 2023, and a significant rise from the 9% reported in the year ended March 31, 2022.
S&P Global Market Intelligence data also reveals that Indian banks held a 7.6% share in aggregate dividends for the fiscal year concluding in March 2017, which decreased to 5% in the subsequent two years leading up to the pandemic.
In spite of heightened global macroeconomic uncertainty and recent bank failures, bank profits have demonstrated resilience globally. Flourishing within a high-interest-rate environment has played a pivotal role in maintaining this stability. As a result, S&P Global Market Intelligence estimates indicate a considerable upswing in worldwide bank dividend payments—expected to increase by 8.5% in the calendar year 2023, with an additional 6% surge in 2024.
Stock Market LIVE Updates | Aptus Value fell over 1% after huge block deal
Shares of Aptus Value Housing Finance India fell over 1 percent after a huge block deal. Around 1 million shares changed hands in a bunch trade, according to Bloomberg. However, details of the buyers and sellers were not known.
| Index | CMP Chg(%) | YTD(%) 1 Week(%) | 1 Month(%) 1 Year(%) |
|---|---|---|---|
| BSE Auto | 35174.14 -0.12 | 21.61 0.07 | -1.80 18.71 |
| BSE CAP GOODS | 44699.64 0 | 34.06 3.28 | 4.60 41.51 |
| BSE FMCG | 18800.78 0.39 | 16.95 1.52 | -1.04 19.93 |
| BSE Metal | 21522.10 -0.33 | 3.20 1.50 | 2.17 14.67 |
| BSE Oil & Gas | 18805.32 -0.04 | -7.86 -0.52 | -2.39 -4.24 |
| BSE REALTY | 4341.14 0.64 | 25.95 1.55 | 0.97 21.50 |
| BSE IT | 31413.23 0.58 | 9.56 0.15 | 4.28 6.66 |
| BSE HEALTHCARE | 28061.44 -0.14 | 21.83 0.33 | 4.75 22.96 |
| BSE POWER | 4401.98 0.71 | 0.47 4.54 | 8.71 -12.67 |
| BSE Cons Durables | 44062.55 -0.06 | 10.93 1.18 | 4.59 7.49 |
Stock Market LIVE Updates | Sharekhan View on Gateway Distriparks
Gateway Distriparks has shown resilient performance due to EXIM imbalance and sustained pressure in the CFS business led by increased fixed costs. However, the company is witnessing an improvement in exports, especially in its core NCR region, which is expected to aid in improving operational profitability. The company continues to evaluate newer locations for terminals, upgrade existing terminals and hire new rakes for which it has earmarked Rs. 300 capex over the next two years.
Sharekhan believe the company remains on track to benefit from an expected improvement in exports.
Broking house retain Buy on the stock with a revised price target of Rs 105, rolling forward valuation multiple to FY2026E earnings and considering improving EXIM growth outlook.
Stock Market LIVE Updates | Jindal Stainless’ special alloy steel grade in motor casing in Chandrayaan-3
Jindal Stainless has developed and supplied a special, high strength alloy steel grade that has been used in the motor casing of India’s ambitious third lunar mission, the Chandrayaan-3.
Sensex Today | Gold hits 2-week highs as retreating US yields renews appeal
Gold prices climbed to two-week highs on Thursday as a retreat in the U.S. dollar and Treasury yields revived investors' appetite for bullion as they wait to see what interest rate signals central bankers offer at the Jackson Hole meeting.
Spot gold was up 0.3% at $1,920.79 per ounce by 0629 GMT, hitting its highest level since Aug. 10. U.S. gold futures were flat at $1,948.70.
The Federal Reserve is holding its annual symposium in Jackson Hole, Wyoming, from Aug. 24-26, with investors' looking towards Chair Jerome Powell's speech on Friday for confirmation on whether interest rates are going to stay higher for longer.
Sensex Today | Market at 1 PM
The Sensex was up 15.31 points or 0.02 percent at 65,448.61, and the Nifty was up 0.60 points or 0.00 percent at 19,444.60. About 1742 shares advanced, 1344 shares declined, and 102 shares unchanged.
| Company | CMP Chg(%) | Volume | Value(Rs cr) |
|---|---|---|---|
| COFORGE LTD. | 5,290.55 7.68 | 20.07m | 9,600.16 |
| HDFC Bank | 1,583.00 -0.23 | 10.68m | 1,696.64 |
| ICICI Bank | 972.15 0.55 | 11.87m | 1,157.38 |
| Reliance | 2,499.10 -0.92 | 3.65m | 919.04 |
| Manappuram Fin | 143.40 -1.85 | 62.57m | 892.85 |
| Hindustan Aeron | 4,024.60 -0.16 | 1.98m | 804.76 |
| Adani Enterpris | 2,579.55 1.95 | 3.01m | 777.68 |
| SBI | 576.60 -0.05 | 12.51m | 724.43 |
| GMR Airports | 65.50 10.46 | 101.06m | 648.23 |
| Axis Bank | 989.65 1.06 | 5.60m | 553.95 |
Stock Market LIVE Updates | Vascon Engineers receives letter of acceptance worth Rs 605.7 crore from Bihar Medical Services & Infrastructure Corporation
Vascon Engineers has received Letter of Acceptance amounting to Rs 605.65 crore from Bihar Medical Services & Infrastructure Corporation, for construction of Lohia Medical College & Hospital including hospital and residential building, Supaul. The EPC work order has to be completed within 36 months from the date of receipt of Letter of Acceptance.
Stock Market LIVE Updates |
Prefer to remain selective among banking stocks: Emkay Global Financial Services
Notwithstanding the margin correction from the peak, brokerage house expect banks to report a better RoA in FY24E on healthy growth, better fees/treasury gains and lower LLP. However, macro uncertainty would be a drag, at least on large banks.
With 2Q likely to be soft for banks in general, with the festive season being largely bunched-up in 3Q, the near-term banking sector performance could be soft. Thus, Emkay recommend remaining selective with preference for small-/mid-cap banks like KVB, RBL, Indian Bank and Ujjivan SFB, while we have a Hold on the recently downgraded City Union Bank and Equitas SFB.
Within the large cap space, we prefer ICICI Bank, IIB and BOB, while we remain concerned about the ensuing management change in Kotak Mahindra Bank.
It prefer HDFC Bank, but believe the bank will have to deliver on the growth front, including deposits.
Within the NBFC-MFI space, broking house prefer CREDAG the most, followed by Fusion.
Emkay recently downgraded SBIC to Hold due to its weak performance. We increase Target Price for PNB and Union Bank, given the healthy growth & earnings momentum, while we maintain Hold stance on both.
Stock Market LIVE Updates | Suzlon Energy hits 52-week high on winning wind power project
Suzlon Energy shares jumped to a 52-week high of Rs 22.85 on August 24 afternoon after the company announced winning an order from Integrum Energy Infrastructure for a 31.5 megawatt wind power project.
The renewable energy company is expected to install 15 units of its S120 – 140m wind turbine generators with a hybrid lattice tubular tower and a rated capacity of 2.1 megawatt each in Maharashtra and Karnataka.
“A project of this size can provide electricity to nearly 20 thousand households and curb approximately 0.81 lakh tonnes of CO2 emissions per year. Electricity generated from the project will be used for captive consumption. The project is expected to be commissioned by May, 2024,” CEO JP Chalasani said. Read More
Sensex Today | Nifty Information Technology index up 0.5 percent led by Coforge, Mphasis, Persistent Systems
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| COFORGE LTD. | 5,182.90 | 5.49 | 19.56m |
| MphasiS | 2,446.55 | 3.92 | 968.23k |
| Persistent | 5,066.45 | 1.23 | 186.35k |
| Infosys | 1,420.35 | 0.88 | 2.76m |
| Tech Mahindra | 1,205.45 | 0.37 | 732.00k |
| L&T Technology | 4,373.00 | 0.12 | 67.37k |
| Wipro | 415.30 | 0.01 | 1.69m |
Stock Market LIVE Updates | Procter & Gamble Health share price falls 5% on weak Q4 results
Shares of Procter & Gamble Health dropped nearly 5 percent in early trade on August 24 following the release of disappointing fourth-quarter financial results.
The FMCG company has reported net profit at Rs 29.8 crore for quarter ended June FY23 (Q4FY23), falling 28 percent compared to year-ago period due to higher material cost and one-time employee cost.
Revenue from operations grew by 1.8 percent year-on-year to Rs 301.2 crore during the quarter. The company announced a final dividend of Rs 50 per share for financial year ended June 2023 as per a filing with BSE on August 23. Read More
