Analysis Financial News

Lupin Ltd. traded 0.73 per cent in Monday's trade at 11:29AM (IST). Around 7,998 shares changed hands on the counter. The stock opened at Rs 2000.75 and touched an intraday high and low of Rs 2029.85 and Rs 1998.25, respectively, in the session so far. The stock of Lupin Ltd. quoted a 52-week high of Rs 2312.00 and a 52-week low of Rs 1168.50.

Hindustan Aeronautics (HAL) today surged 4% to an intraday high of Rs 4,246 on the BSE today after the company on Thursday reported a consolidated net profit of Rs 1,510 crore for the quarter that ended September 30, 2024, rising 22% over Rs 1,237 crore reported in the year-ago period. The revenue from operations stood at Rs 5,976 crore, gaining 6% over Rs 5,636 crore posted by the company in the corresponding quarter of the previous financial year.

Ambuja Cements Ltd. traded at Rs 548.05 on BSE at 11:24AM (IST) on Monday, 0.62 per cent from previous close. The scrip quoted a 52-week low price of Rs 408.60 and a high of Rs 706.85.

Cummins India Ltd. rose 0.16 per cent to Rs 3323.10 in Monday's trade. It hit an intraday high of Rs 3356.20 and low of Rs 3267.50, respectively, during the day. The stock quoted a 52-week high price of Rs 4169.50 and low of Rs 1779.20.

On the BSE, AIK Pipes & Polymers(down 20.00 per cent), Honasa Consumer(down 20.00 per cent), Ascensive Educare(down 20.00 per cent), Unitech Intnl(down 19.77 per cent) and Looks Health Services(down 19.66 per cent) were among the stocks that plunged over 5 per cent during the session.

FII selling that has wiped off nearly Rs 50 lakh crore from the Indian stock market ever since the bull market ended less than two months ago is now giving early signs of a U-turn before the Santa rally season begins in December-end. The pace of sell-off decreased to just about Rs 2,500 crore in the second week of the month after the first week saw foreigners decamping with nearly Rs 20,000 crore.

Hindustan Zinc surged 2% to their day’s high of Rs 504.65 on the BSE today after the company on Friday announced that it emerged as a preferred bidder for Dugocha Gold & Associated Mineralization Block. “Via notification dated November 15, 2024, hosted on the mstc ecommerce auction portal, the Company has been declared as 'Preferred Bidder' for Dugocha Gold & Associated Mineralization Block, District Salumber (on highest Final Price Offer of 8.15%),” said the company in a filing to the exchanges.

buy call on Oil And Natural Gas Corporation (ONGC) with a target price of Rs 330. The current market price of Oil And Natural Gas Corporation Ltd. is Rs 250.9. ONGC, incorporated in 1993, is a Large Cap company with a market cap of Rs 315513.40 crore, operating in Gas & Petroleum sector. Oil And Natural Gas Corporation, key products/revenue segments include Oil Crude, Gas Natural, Naphtha, Ethane, Propane, Butane, Subsidy, Aviation Turbine Fuel (ATF), Other Operating Revenue, LSHS, Electricity, Mineral Turpentine Oil (MTO), HSD, Processing Charges, Others for the year ending 31-Mar-2024.

The BSE Sensex was down 511 points, trading at 77,058, while the Nifty50 was down 162 points, at 23,370 as of 9:46 am.

US dollar in early trade on Monday despite a stronger American currency and sustained outflow of foreign funds. Lower level of crude oil prices in the international market supported the recovery of local unit, forex traders said. At the interbank foreign exchange, the rupee opened at 84.42 and strengthened further to 84.38 against the greenback, trading 8 paise higher from its previous close.

Brainbees Solutions are expected to be in focus today as the Firstcry operator narrowed its consolidated net loss in the quarter ended September 30, 2024 to Rs 50 crore versus Rs 101 crore in the year ago period. The losses were also down from Rs 57 crore from the previous quarter and attributable to the owners of the company.

«So, this is the time to invest in largecaps to start with as of now, maybe some select midcaps which have delivered very strong numbers where visibility is very strong and hold them possibly expecting maybe some more minor dip, but upside being much more than downside,» says Sandip Sabharwal, asksandipsabharwal.com. The why, hum kyu gire hai we know it. Where are we headed and what should one do? Let us address that. Sandip Sabharwal: Kyu gire hai, kyoki hum bahut chad gaye the isliye.

Laurence Balanco, CLSA, says the upside target for Nifty from the structural moves that we have seen historically for the Nifty is over 37,000 as an ultimate upside target towards the end of this decade. Balanco says there is still further upside and that is why they want to look at opportunities to increase exposure. But they are not seeing the evidence to jump back in. Just over 37,000 is the longer term target for the Nifty in this phase of the bull market off the COVID lows. Which is that one asset class or trade that could be a multi-year short? For example, if someone said they would go short in China, three years ago, that turned out to be the trade of the century. What is that one trade you would say that I would remain short? Laurence Balanco: That is a question without notice. It is off the top of my head on a structural basis. In the near term, the most vulnerable market that we have highlighted has been the Euro Stoxx 600. This market peaked in April, May. This year, there was a dip into the August lows. We had a rally back to those April, May highs where we have stalled out and rolled over. So, it does look like a space that relatively underperforms. And then we have also got this potential double top pattern.

«So, consumers and companies need to see the other side of the coin, that is a cut of rates. So, while food inflation is high, I think if there is a December cut, that would provide one of the catalysts,» says Chakri Lokapriya, Managing Partner, RSB LLP What is your view? Are we in for a long winter or we are nearing the end of this decline? Chakri Lokapriya: Nifty is down about 10%. Earnings are down, if you look at the various sectors saw 10% to 15%. And on the other hand, some of the PSU stocks are down 40-50%. So, at that perspective, I do not think there is much downside, but what is clearly needed is some kind of a catalyst for earnings to revive upwards. Now that catalyst can come from RBI rate cut. I know people are talking about it being postponed to February, but RBI has increased rates by about 250 basis points, very short period of time. So, consumers and companies need to see the other side of the coin, that is a cut of rates. So, while food inflation is high, I think if there is a December cut, that would provide one of the catalysts.

MRF had announced an interim dividend of Rs 3 per share for its shareholders earlier this month while also announcing the results for the second quarter ended September 30, 2024. The company had fixed November 19 as the record date for determining the eligibility of the shareholders for the said dividend.

Hong Kong stocks are cheap but may miss out on the benefits of China's efforts to support its economy, analysts at Goldman Sachs said, while downgrading their recommendation on the market. «Although valuations are not demanding, Hong Kong does not offer much economic or earnings growth,» Goldman analysts said in an Asia-Pacific portfolio strategy note published on Sunday, which recommended an underweight allocation to Hong Kong.

Hero MotoCorp will be in focus today after the company reported 14% growth in its standalone net profit at Rs 1204 crore in the second quarter. Revenue from operations in the reporting period rose 11% YoY to Rs 10463 crore.

Grasim Industries will be in focus in Monday's trade after the company reported a 66% fall in its consolidated net profit at Rs 389 crore in the second quarter. The company earned a revenue of Rs 33,563 crore for Q2FY25, up 11% YoY, driven by strong performance from its diversified business portfolio.

Oil prices edged up on Monday after fighting between Russia and Ukraine intensified over the weekend, although concerns about fuel demand in China, the world's second-largest consumer, and forecasts of a global oil surplus weighed on markets. Brent crude futures gained 20 cents, or 0.3%, to $71.24 a barrel by 0130 GMT, while U.S. West Texas Intermediate crude futures were at $67.11 a barrel, up 9 cents, or 0.1%.

Neelam Linens and Garments will debut on the NSE SME platform today. Ahead of the listing, the company's shares traded with a GMP of Rs 14. Considering the upper price band of Rs 24, the stock is expected to list with gains of 54% premium over the issue price.

Alibaba Group is aiming to raise $5 billion in multi-tranche dollar and offshore Chinese yuan bonds, according to two sources with direct knowledge of the matter. The company in a regulatory filing on Monday said it was considering carrying out the transaction.