Analysis Financial News

Tata-owned Trent soared nearly 4% today, reaching a fresh all-time high of Rs 7,913.45 on the BSE, followed by the global brokerage firm Citi initiating coverage with a buy rating and a target price of Rs 9,250 on the stock, along with the stock's upcoming inclusion in the Nifty50 index next week.

Shriram Finance Ltd. gained 0.77 per cent to Rs 3547.6 in Thursday's trade as of 10:34AM (IST). The stock hit a high price of Rs 3555.0 and low of Rs 3529.95 during the session. The return on equity (ROE) for the stock stood at 15.04 per cent. Traded volume on the counter stood at 10:34AM shares and turnover at Rs 1.41 crore around that time. The stock of Shriram Finance Ltd. quoted a 52-week high price of Rs 3622.45 and 52-week low prices of Rs 1760.9, respectively.

SME IPO of Sahasra Electronic Solutions has opened for subscription and closes on September 30, Monday. The company aims to raise nearly Rs 31.10 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue:

Nagarjuna Fertilizers and Chemicals Ltd.(up 3.16%), Zuari Agro Chemicals Ltd.(up 3.04%), Rama Phosphates Ltd.(up 1.31%), Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 0.64%), Aries Agro Ltd.(up 0.60%) and Mangalore Chemicals & Fertilizers Ltd.(up 0.23%) were among the top gainers.

Tata Power Company Ltd. gained 1.76 per cent to Rs 476.35 at 10:29AM (IST) in Thursday's trade. The counter has hit a high of Rs 476.8 and low of Rs 465.6 so far during the session. The stock had closed at Rs 468.1 in the previous session. The counter has had a total traded volume of 283292 shares so far with a value of Rs 13.34 crore on the NSE. It traded at a price-to-earnings multiple of 41.2 and a price-to-book ratio of 3.89.

MphasiS Ltd. gained 0.88 per cent to Rs 3042.75 in Thursday's trade as of 10:25AM (IST). It hit a high of Rs 3051.0 and low of Rs 3024.0 during the session. The stock quoted a 52-week high price of Rs 3186.95 and a low of Rs 2068.45. The return on equity for the stock stood at 17.67 per cent. About 1,143 shares have changed hands on the counter so far.

Vedanta Ltd. rose 0.44 per cent to Rs 481.75 at 10:20AM hours (IST) on Thursday. Earlier in the day, the stock saw a gap up start to the session. As per data available on BSE, total traded quantity on the counter stood at 329,957 shares with a turnover of Rs 15.88 crore till 10:20AM (IST). The stock traded at a price-to-earnings (P/E) multiple of 36.17, while the price-to-book value ratio stood at 3.29.

Gold prices witnessed some profit booking in Wednesday’s session, closing at Rs 75,313 after falling from its all-time and day’s high of Rs 76,000/10 gm. Meanwhile silver dipped by Rs 750/kg.

crude oil prices. FIIs turning net sellers on Wednesday put further pressure on the domestic currency against the greenback, according to forex experts. At the interbank foreign exchange, the local unit opened at 83.66, down 8 paise from its previous close of 83.58 against the American currency. It slipped further to 83.69, 11 paise lower from Wednesday's closing rate.

Pokarna Ltd.(up 1.56%), Madhav Marbles & Granites Ltd.(up 0.54%), Aro Granite Industries Ltd.(up 0.32%) and Ashapura Minechem Ltd.(up 0.02%) were among the top gainers.

Pidilite Industries Ltd. traded 1.35 per cent up at Rs 3301.0 on Thursday at around 09:59AM (IST), while the benchmark BSE Sensex advanced 167.07 points to 85336.94. As many as 3,877 shares changed hands on the counter with a total value of Rs 1.27 crore.

IPO of Divyadhan Recycling Industries will open for subscription today and will close on Monday, September 30. The company aims to raise nearly Rs 24 crore through the SME IPO and list the shares on the NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.

Bajaj Holdings & Investment Ltd. traded 0.52 per cent higher in Thursday's session at 10:04AM (IST). The stock opened at Rs 10800.0 and has touched an intraday high and low of Rs 10815.95 and Rs 10600.0, respectively, during the session so far. The stock quoted a 52-week high of Rs 11348.5 and a 52-week low of 6634.6. About 359 shares changed hands on the counter so far.

Persistent Systems Ltd.(up 0.92 per cent), HCL Technologies Ltd.(up 0.72 per cent), Wipro Ltd.(up 0.7 per cent), Infosys Ltd.(up 0.7 per cent) and MphasiS Ltd.(up 0.63 per cent) were among the top gainers.

Federal Reserve policy makers later in the day for clues on the pace of interest rate cuts. The U.S. currency rebounded strongly overnight from a more than one-year low to the euro and 2 1/2-year trough versus sterling.

Azerbaijan, the UAE, and Brazil — the past, current, and next hosts of the UN climate conference — are set to increase their combined oil and gas production by 33 per cent by 2035, contradicting their commitments to lead global efforts for stronger climate action, according to a new analysis. The analysis, compiled by the US-based research and advocacy group Oil Change International using industry data, shows that the UAE and Brazil are on track to increase production by 37 per cent and 38 per cent, respectively, by 2035. Azerbaijan, which will host COP29 in Baku in November, is projected to see a four per cent rise in production. At the last UN climate summit in Dubai in November-December 2023, leaders made a historic commitment to transition away from fossil fuels, triple renewable energy capacity and double energy efficiency by 2030. Oil Change International said that the ongoing expansion of oil and gas investments undermines these commitments.

Aditya Birla Fashion and Retail (ABFRL), Granules India, Hindustan Copper, Vodafone Idea and Indian Energy Exchange (IEX). The Future & Options contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%.

Indian stock exchange operator BSE Ltd. has told bankers to increase their oversight of the initial public offering applications of small companies, after the exchange found discrepancies in the filing documents of some recent deals, according to people familiar with the matter. Sundararaman Ramamurthy, the BSE’s chief executive, told bankers on Tuesday to ensure IPO hopefuls aren’t inflating their numbers, the people said, requesting not to be named because they aren’t authorized to talk about the meeting. He also asked them to put more effort into assessing potential listing candidates in-person, including by visiting the companies’ premises, they said.

Promoters continue to cash in on the market rally, with those of about 180 companies selling stock worth more than ₹40,000 crore through open market transactions in the September quarter so far, indicating that valuations are rich enough for owners to lock in gains on part of their equity holdings. For the year to date, the value of shares sold by promoters via secondary market has already crossed ₹1 lakh crore. That's more than twice in all of 2023, when the amount stood at ₹48,000 crore. In 2022 and 2021, the numbers were ₹25,400 crore and ₹54,500 crore, respectively.

equity indices closed at all-time high levels on Wednesday, as a late spurt helped the Sensex close above 85,000 and the Nifty above 26,000 for the first time. Analysts warn traders of some hurdles for these indices immediately but do not anticipate a sharp sell-off. The broader market indices, however, ended weak. Nifty gained 0.3% or 63.75 points to close at 26,004.15, while Sensex advanced 0.3% or 255.83 points to close at 85,169.87.

Gold prices steadied on Thursday after hitting a record high on the previous session, aided by the expectations for another big rate cut by the U.S. Federal Reserve, while traders await Federal Reserve Chair Jerome Powell's comments for further hints on the policy outlook.