Analysis Financial News

Shree Cements Ltd. traded at Rs 27160.95 on BSE at 12:03PM (IST) on Wednesday, 0.02 per cent from previous close. The scrip quoted a 52-week low price of Rs 23500.15 and a high of Rs 30710.15.

Oberoi Realty soared to a record high, climbing over 5% on Wednesday to Rs 2162.45 on the BSE after domestic brokerage Nomura initiated coverage on the company with a ‘buy’ rating and a target price of Rs 2,500, signalling a potential upside of over 15% from the current level. Nomura Institutional Equities cited robust growth drivers, including strong pre-sales momentum, rising annuity income, and strategic business development initiatives as drivers for its bullish outlook. The brokerage projects a compound annual growth rate (CAGR) of 40% in pre-sales, expecting the figure to reach Rs 11,500 crore over the next two fiscal years.

Voltas Ltd. 0.12 per cent to Rs 1690.00 in Wednesday's trade as of 11:43AM (IST). The stock hit a high price of Rs 1704.15 and low of Rs 1686.80 during the session.

RBI has largely been following a data-driven and evidence-based approach in its pursuit of a contextually relevant Policy, a Policy stemming from the concerns at the time of formulation and an attempt to arrive at judicious Policy prescriptions. With an uncanny ability to connect the dots and draw meaningful inferences, it is not difficult to predict the shape of things likely to come as I have done repeatedly for the last several years. But this time is different, the choices are not so stark and we are confronted with the cognizable Shakespearean dilemma of “to be or not to be”. No wonder, then, opinion about the Policy move is divided: some believe that a rate cut is necessary to shore up a flagging economy; others maintain that given the ravages of the inflationary spiral, an unchanged rate would best serve the objectives of the central bank.

Bank of Baroda traded 0.92 per cent in Wednesday's trade at 11:48AM (IST). Around 143,252 shares changed hands on the counter. The scrip opened at Rs 255.60 and touched an intraday high and low of Rs 257.30 and Rs 254.35, respectively, in the session so far. Shares of the company of Bank of Baroda quoted a 52-week high of Rs 298.45 and a 52-week low of Rs 204.65.

Punjab National Bank 0.88 per cent to Rs 108.90 in Wednesday's trade as of 11:53AM (IST). The stock hit a high price of Rs 109.00 and low of Rs 107.80 during the session.

Investec has initiated coverage on JSW Infra with a 'Buy' rating and a target price of Rs 370, indicating a 15% upside from its previous closing price of Rs 321. Investec expects JSW Infra to achieve a 20%+ revenue and EBITDA CAGR over FY24-30. The growth is expected to be driven by third-party cargo at new terminals and strong growth in JSW Group traffic from FY27E onwards. The firm also sees significant potential for new concessions, fueled by the Indian government's aggressive port privatization targets, the management's opportunistic approach, and a robust balance sheet.

Stocks that rallied over 10% included, Indo Amines(13.38%), Bang Overseas(13.23%), Niva Bupa Health Ins(12.77%), HEG(11.21%), Wonderla Holidays(10.99%), Vippy Spinpro(10.55%), Zim Laboratories(10.51%) and Syschem(India)(10.17%).

Bharat Electronics Ltd. traded at Rs 313.95 on BSE at 10:30AM (IST) on Wednesday, 0.62 per cent from previous close. The scrip quoted a 52-week low price of Rs 150.00 and a high of Rs 340.35.

Cholamandalam Investment & Finance Company Ltd. rose 0.75 per cent to Rs 1264.40 in Wednesday's trade. It hit an intraday high of Rs 1275.00 and low of Rs 1256.05, respectively, during the day. The stock quoted a 52-week high price of Rs 1650.00 and low of Rs 1011.50.

Balkrishna Industries Ltd.(up 1.37 per cent), Bharat Forge Ltd.(up 1.16 per cent), Mahindra & Mahindra Ltd.(up 0.5 per cent), Bajaj Auto Ltd.(up 0.35 per cent) and MRF Ltd.(up 0.34 per cent) were among the top gainers.

foreign inflows offset the impact of a strengthening greenback. A strengthening dollar against overseas currencies and a rise in Brent crude in international markets capped further gains in the local unit, while a positive trend in domestic equity markets prevented a drop in the currency. Forex traders said the rupee has been on a downtrend largely on the back of Donald Trump's rhetoric on BRICS currency, political instability in the Eurozone, weaker domestic macroeconomic indicators and unabated foreign portfolio outflows.

«Korea has been a very weak market this year. It is down about 19% in dollar terms within the EM index and so this is just more pain for the Korean market and we will have to see how the politics plays out,» says Geoff Dennis, Independent EM Commentator. This morning we have woken up to those kind of news coming in from South Korea wherein, of course, there was that Martian law that was put on, then it was taken off. Now, there is news of impeachment, a lot going on as far as the Extraordinary General Meeting of the Central Bank in South Korea is concerned. But it begs the question whether India is one of those safe havens of sort where there is political stability, where there is economic stability, while even countries like, of course, China, South Korea, West Asia, and all of that are going through their own turmoil. Does that make India stand out as one of the best opportunities right now? Geoff Dennis: Oh, yes, it does.

Benchmark NSE Nifty index rose 81.95 points to 24539.1 amid buying in frontline bluechip stocks.

REC Ltd. traded at Rs 550.75 on BSE at 10:15AM (IST) on Wednesday, 2.05 per cent from previous close. The scrip quoted a 52-week low price of Rs 376.40 and a high of Rs 653.90.

Canara Bank 1.28 per cent to Rs 106.50 in Wednesday's session as of 10:20AM (IST) even as the equity benchmark Sensex traded 329.82 points at 81175.57. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 129.35 and a 52-week low of Rs 82.66 on NSE. Around 496606 shares changed hands on the counter till 10:20AM (IST).

Domestic benchmark index NSE Nifty gained 88.7 points to 24545.85, while the BSE Sensex traded 332.97 points up at 81178.72.

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Sensex and Nifty50, traded higher on Wednesday for the fourth consecutive session, supported by gains in index heavyweights HDFC Bank, ITC, and L&T, ahead of the Reserve Bank of India's interest rate decision later in the week. As of 9:50 am, the BSE Sensex was up by 317 points, or 0.39%, at 81,162.75, while the Nifty50 gained 96.15 points, or 0.39%, trading at 24,550.

The report projects the Nifty to reach 26,500 in CY25, implying a return of less than 9%, with potential underperformance against US equities in USD terms. The Nifty50 closed at 24457 on 3 December 2024.

Reliance Industries (RIL) is ending 2024 on a muted note and is down about 18% from its July peak as investors fear that the quick commerce disruption may impact billionaire Mukesh Ambani's ambitions in retail business. While refining margins, which fell sharply from June, have rebounded on the O2C side of the conglomerate’s business, Reliance Retail (RR) growth continues to disappoint and brokerages are reluctant to give it a premium valuation against other retail peers on lower near-term growth, real estate costs and capex intensity.