Analysis Financial News

capital on Tuesday amid a firm trend in the overseas markets. On Monday, the precious metal had revisited the all-time high level of Rs 76,950 after a gap of six months, according to market sources. The metal previously hit the record level of Rs 76,950 on March 22 this year, they said.

JHS Svendgaard Laboratories Ltd.(up 4.99%), Parag Milk Foods Ltd.(up 2.38%), Nakoda Group Of Industries Ltd.(up 2.33%), Hatsun Agro Products Ltd.(up 0.40%), Marico Ltd.(up 0.38%), LT Foods Ltd.(up 0.21%), Heritage Foods Ltd.(up 0.06%), Procter & Gamble Hygiene & Healthcare Ltd.(up 0.04%), Colgate-Palmolive(India)Ltd.(up 0.02%) and Tata Consumer Products Ltd.(up 0.01%) stood among the top gainers.

Khaitan Chemicals & Fertilizers Ltd.(up 4.17%), Sikko Industries Ltd.(up 4.05%), Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 3.82%), Chambal Fertilisers & Chemicals Ltd.(up 1.97%), Rama Phosphates Ltd.(up 1.65%), Paradeep Phosphates Ltd.(up 1.03%), Agro Phos India Ltd.(up 0.61%), Gujarat Narmada Valley Fertilizers & Chemicals Ltd.(up 0.59%), Aries Agro Ltd.(up 0.59%) and The Fertilisers and Chemicals Travancore Ltd.(up 0.15%) stood among the top gainers.

1) Banking and Finance The banking industry continues to present attractive value opportunities for investors, particularly among mid-sized private banks. These institutions have been experiencing significant growth in their loan books, with many reporting an annual increase of 15% to 20%. In fact, a select number of banks are even surpassing the 20% mark, indicating a robust demand for credit. Alongside loan growth, banks have been improving their asset quality, with non-performing assets decreasing, suggesting a reduced risk of bad loans on their books.

cryptocurrency, while Bitcoin continues to dominate headlines, several other sectors are emerging as potential game-changers. Anush Jafer, a research expert at Mudrex, explored these promising areas during the ETMarkets live stream, shedding light on innovative projects that could shape the future of the crypto ecosystem. Focus on Layer 2 Solutions Jafer emphasized the growing importance of Layer 2 solutions, particularly in enhancing transaction speeds and reducing costs. These technologies are vital for scaling blockchains, enabling them to handle a higher volume of transactions without sacrificing security. Projects like Optimism and Arbitrum are leading the charge, allowing Ethereum to scale efficiently, making it more attractive for developers and users alike.

Fractal Analytics, a provider of artificial intelligence services, is considering filing for an initial public offering in Mumbai as soon as November to raise $500 million, according to people familiar with the matter. Fractal, known as India’s first AI unicorn, may seek a valuation of at least $3.5 billion in the share sale, the people said, asking not to be identified because the deliberations are private. The offering may include both new and existing shares, the people said, adding that a listing could take place as soon as the first quarter of 2025.

Cholamandalam Investment & Finance Company Ltd. traded 0.74 per cent down at Rs 1621.75 at 01:33PM (IST) on Tuesday, even as BSE benchmark Sensex gained 52.73 points to 84981.34. The stock had closed at Rs 1634.0 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 1650.0 and Rs 1011.5, respectively.

FIIs lead sectoral churning in the market ahead of the beginning of the rate-cut cycle in India, private bank stocks have once again begun to outperform their high-flying PSU peers. In the last one month, the private bank index has risen 8% while PSU banks have lost 4.3% of their value. HDFC Bank and ICICI Bank led the turnaround in private banks with strong support coming from other heavyweights like Axis Bank, Kotak Mahindra Bank, Bandhan Bank and IndusInd Bank.

LTIMindtree Ltd. traded 1.19 per cent lower in Tuesday's session at 01:27PM (IST). The stock opened at Rs 6310.55 and has touched an intraday high and low of Rs 6345.95 and Rs 6211.65, respectively, during the session so far. The stock quoted a 52-week high of Rs 6575.0 and a 52-week low of 4518.35. About 5,682 shares changed hands on the counter so far.

United Spirits Ltd. traded 0.17 per cent down in Tuesday's trade at 01:38PM (IST). Around 15,207 shares changed hands on the counter. The counter opened at Rs 1631.5 and touched an intraday high and low of Rs 1648.4 and Rs 1612.15, respectively, in the session so far. The stock of United Spirits Ltd. quoted a 52-week high of Rs 1648.4 and a 52-week low of Rs 981.25.

Indian Energy Exchange (IEX) fell by 9.4% following news of potential market coupling for power exchanges, expected to be implemented by the end of the current fiscal year or the start of FY26. The share price of IEX was recorded at Rs 216.88, down from the previous close of Rs 239.25. Additionally, around 1 PM, 18.40 lakh IEX shares changed hands, significantly higher than the previous two weeks' average volume of 6.49 lakh. On the NSE, approximately 5.10 crore shares were traded, according to reports.

Varun Beverages Ltd. traded 1.46 per cent down at Rs 644.2 at 11:56AM (IST) on Tuesday, even as BSE benchmark Sensex dropped 94.96 points to 84833.65. The scrip had closed at Rs 653.75 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 682.84 and Rs 331.28, respectively.

Deven Choksey, MD, DRChoksey FinServ Pvt. Ltd, says there is a case for some amount of bounce back from the technical point of view itself if I have to put it across. Still, at this point of time while we are talking, given the kind of last quarter's commentary which has come from most of these companies, their growth average is not going to be more than 15% to 20% on a year-over-year basis. One would like to buy PSU stocks, but at a corrected price with the time correction along with it. What is your take on the PSUs, given the bit of a rebound from the lows yesterday? Of course, this sector was at the forefront. Are we likely to see some sort of a synchronized rebound or is it going to be very stock-specific? Deven Choksey: I believe that the PSU companies have mostly given a significant amount of price correction. So, certainly, it was across-the-board in many of the cases where we saw the fall, be it in the capital goods segment, be it in the metal commodity space, be it in the engineering space or for that matter any other areas in which the ship building, defence, etc. Each and every one of them have given significant price corrections.

ACC Ltd. traded 0.79 per cent down at Rs 2463.0 on Tuesday at around 11:51AM (IST), while the benchmark BSE Sensex declined 64.99 points to 84863.62. As many as 2,048 shares changed hands on the counter with a total value of Rs 0.51 crore.

Indian Oil Corporation Ltd. traded 0.76 per cent up at Rs 170.9 at 10:39AM (IST) on Tuesday, even as BSE benchmark Sensex gained 67.91 points to 84996.52. The stock had closed at Rs 169.6 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 196.8 and Rs 85.51, respectively.

Phoenix Mills Ltd.(up 1.89 per cent), DLF Ltd.(up 1.25 per cent) and Mahindra Lifespace Developers Ltd.(up 0.4 per cent) were among the top gainers.

Ashok Leyland Ltd. gained 0.69 per cent to Rs 238.05 at 10:45AM (IST) in Tuesday's trade. The scrip has hit a high of Rs 239.0 and low of Rs 236.4 so far during the session. The stock had closed at Rs 236.4 in the previous session. The counter has had a total traded volume of 176766 shares so far with a value of Rs 4.2 crore on the NSE. It traded at a price-to-earnings multiple of 28.53 and a price-to-book ratio of 5.58.

Ravindra Energy Ltd.(up 5.00%), KPI Green Energy Ltd.(up 5.00%), Reliance Power Ltd.(up 4.99%), NLC India Ltd.(up 3.62%), Torrent Power Ltd.(up 3.55%), Tata Power Company Ltd.(up 2.33%), Adani Energy Solutions Ltd.(up 2.15%), Power Grid Corporation of India Ltd.(up 2.01%), Voltamp Transformers Ltd.(up 1.59%) and KEC International Ltd.(up 1.27%) were among the top gainers.

PI Industries Ltd. gained 1.12 per cent to Rs 4742.2 in Tuesday's trade as of 10:50AM (IST). The stock hit a high price of Rs 4756.95 and low of Rs 4693.35 during the session.

Max Healthcare Institute Ltd. rose 4.32 per cent to Rs 1099.65 in Tuesday's trade. It hit an intraday high of Rs 1117.05 and low of Rs 1066.85, respectively, during the day. The stock quoted a 52-week high price of Rs 1117.05 and low of Rs 531.05.

Reliance Power today again hit a new 52-week high at their 5% upper circuit of Rs 40.06 on BSE after the company in its board meeting on Monday approved the issuance of up to 46.20 crore equity shares/warrants worth Rs 1,525 crore via a preferential allotment. The issue price has been set at Rs 33 per share.