Analysis Financial News

SRF Ltd. rose 0.58 per cent to Rs 2482.8 in Tuesday's trade. It hit an intraday high of Rs 2497.35 and low of Rs 2428.0, respectively, during the day. The stock quoted a 52-week high price of Rs 2697.45 and low of Rs 2081.25.

Rahee Infratech Limited, an integrated railway civil engineering, manufacturing, and construction company in India, has filed its draft red herring prospectus (DRHP) with the market regulator SEBI to raise funds through an initial public offering (IPO). The IPO with a face value of Rs 2 per equity share is a mix of fresh issues of up to Rs 420 crore and an offer for sale of up to 2.7 million equity shares.

Sahasra Electronics Solutions IPO allotment by logging into the official website of the registrar, which is Link Intime India in this case. Follow the step by step process mentioned below to check the status of allotment.

Gandhi Jayanti. Accordingly, all the segments including, the equity, derivative, and SLB will be closed. The multi-commodity exchange will also be closed for both morning and evening sessions.

Welspun Corp share price rallied 4% to a 52-week high of Rs 795 in Tuesday's trade on BSE following the announcement of a major order worth Rs 2,400 crore in the United States. «We are pleased to announce the receipt of a significantly large order in the USA valued at Rs 2,400 crore (approx.), for supply of Coated HSAW Pipes for a Natural gas Pipeline project,» the company said in an exchange filing. The execution of this order is scheduled for FY25 and FY26.

Adrian Mowat, EM-Equity Strategist, says initially China market rally will lead to outflows from India, but in the medium term, this will be very positive for inflows into emerging market equities by global investors and India ranked first equal as the largest market will benefit from that. It is very difficult to encourage people to buy emerging market ETFs if China is doing poorly, which has been very much the case for the last couple of years. India just got slightly bigger than China, but China and India are two biggest markets in EM and they are both looking very interesting. In terms of the booster shot that we have seen from China, do you believe they are just kicking the can down the road with these stimulus measures and they do need to be supplemented by further course of action? Adrian Mowat: The message is that they will do whatever it takes. So, it feels a bit like listening to Mario Draghi in the years or so after the Global Financial Crisis. They have come through with significant and comprehensive measures that address some of the issues within the China economy. They are not going to solve things overnight. But us as financial market investors need to think about the implications for us. The implications are that the policymakers are really concerned and they are doing as much as they can. They are pushing down interest rates and they are trying to inflate the price of financial assets.

consumption growth, which is another core pillar in the last three-four quarters, I think, we do not see any legs for us to surprise positively as we move ahead, especially when it comes to urban consumption demand drivers are concerned," says Vijayaraghavan Swaminathan, Avendus Spark Institutional Equities. I was quite taken by your note, which actually starts off with the quote saying, I cannot change the direction of the wind, but I can adjust my sails to always reach my destination. We all know the kind of times that we are sitting in, both in terms of the global uncertainties with the changing interest rate regime that you are having, both in the Far East as well as the Far West and, of course, political uncertainties and geopolitical tensions other than that. But when we talk about India, it is really all about valuations, that is the sort of screaming amber light if I can say so. What is it you are making of the market construct right now, especially here in India? Vijayaraghavan Swaminathan: So just to give you the context, from a demand perspective, last three-four quarters, we have been excessively cautious, especially on the consumption factors. This is largely coming from the fact that household balance sheets today, we do not draw enough confidence because of excess leverage, which households are sitting on.

Tata Elxsi Ltd. gained 0.26 per cent to Rs 7747.7 in Tuesday's trade as of 11:51AM (IST). The stock hit a high price of Rs 7800.0 and low of Rs 7727.4 during the session. The return on equity (ROE) for the stock stood at 31.61 per cent. Traded volume on the counter stood at 11:51AM shares and turnover at Rs 3.25 crore around that time. The stock of Tata Elxsi Ltd. quoted a 52-week high price of Rs 9191.1 and 52-week low prices of Rs 6406.6, respectively.

airline operators Spicejet and InterGlobe Aviation-operated IndiGo surged by 6% and 2.2% respectively on the BSE after the prices of the aviation turbine fuel (ATF) were slashed by 6%. The shares of SpiceJet went as high as Rs 68.50 while those of IndiGo surged to Rs 4,896.

NTPC are in focus on Tuesday after its subsidiary company NTPC Green Energy signed a memorandum of understanding (MoU) with the Rajasthan government for a 25-gigawatt renewable energy project. «On the occasion of Rising Rajasthan Investor Meet at New Delhi, NTPC Green Energy Limited (NGEL), a wholly-owned subsidiary of NTPC Ltd, signed a Memorandum of Understanding (MoU) with Govt of Rajasthan on 30th September 2024 for the development of 25 GW of Renewable Energy Projects in the State of Rajasthan,» the company said in an exchange filing.

financials are currently the most attractively priced segment of the market today. The valuations in the sector clearly offer a margin of comfort,” says Nitin Raheja, Executive Director, Julius Baer India. In an interview with ETMarkets, Raheja said: “The other segment that we feel strongly about is discretionary consumption which is a multi-decade story in India,” Edited excerpts:

Mankind Pharma shares are expected to remain in Focus on Tuesday as the company announced that it would raise up to Rs 10,000 crore through issuance of non-convertible debentures (NCD) and commercial papers. The company's board of directors on Monday approved raising up to Rs 5,000 crore via non-convertible debentures in 3-4 distinct series with maturities of up to 48 months, in a regulatory filing to stock exchanges.

Indian Railways IRCTC will be in focus after the board approved the appointment of Gaisingam Kabui as the chief financial officer (CFO) of the company with effect from October 1. «It is hereby informed that on the recommendations of the Nomination and Remuneration Committee and the Audit Committee, the Board of Directors has appointed Gaisingam Kabui, GGM (Finance), as Chief Financial Officer (CFO) (Key Managerial Personnel) of the Company with effect from October 01, 2024,» the company said in a filing.

Tata Consultancy Services (TCS) are expected to remain in focus on Tuesday as the company said that it could consider a second interim dividend for the equity shareholders on October 10. TCS will hold a board meeting to take a call on this and will also announce its July-September quarter (Q2FY25) earnings on this day.

The company’s stock ended Monday’s trade marginally higher at Rs 180.05.

Tata Power will be in focus in Tuesday's trade after the company announced the signing of a landmark memorandum of understanding (MoU) with the Rajasthan government. The agreement was signed during the ongoing Rising Rajasthan Investor Meet in New Delhi and the proposed investment plan under it will be Rs 1.2 lakh crore.

SpiceJet will be in focus on Tuesday after Gujarat-based Plutus Wealth Management LLP acquired 85 lakh shares of SpiceJet, worth Rs 51 crore, on Monday through a block deal. Plutus purchased SpiceJet shares at Rs 59.95 each, an increase from Friday's closing price of Rs 58.99. On Monday, the stock rose 8% or Rs 5 to close at Rs 63.70.

repo rate of 6.50%, despite surplus liquidity conditions in the banking system, money market dealers said. The WACR, which is the operating target of the RBI's monetary policy, was at 6.53% the previous day. The WACR typically eases when liquidity conditions in the banking system is in a surplus mode.

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