Commentary Financial News

Indian rupee ended nearly unchanged on Friday, managing to hold its ground in the face of weakness in Asian peers and a fall in local stocks, on account of likely dollar sales by the Reserve Bank of India. The rupee closed at 84.08 against the U.S. dollar, close to its record low and nearly unchanged from its close of 84.0775 in the previous session. The currency was little changed week-on-week.

JSW Steel Ltd on Friday reported 84% decline in its consolidated net profit at Rs 439 crore in the second quarter, compared with Rs 2,760 crore in the last year quarter. Revenue from operations in the reporting period fell 11% year-on-year to Rs 39,684 crore.

Varun Beverages Ltd. traded 0.73 per cent lower in Friday's session at 12:27PM (IST). The stock opened at Rs 610.05 and has touched an intraday high and low of Rs 616.95 and Rs 593.75, respectively, during the session so far. The stock quoted a 52-week high of Rs 682.84 and a 52-week low of 331.28. About 104,248 shares changed hands on the counter so far.

Godrej Consumer Products Ltd. rose 3.98 per cent to Rs 1240.6 in Thursday's trade. It hit an intraday high of Rs 1299.95 and low of Rs 1238.7, respectively, during the day. The stock quoted a 52-week high price of Rs 1541.3 and low of Rs 959.55.

capital on Wednesday mainly driven by festive and wedding season demand, according to the All India Sarafa Association. Gold prices jumped by Rs 500 to an all-time high of Rs 81,500 per 10 grams while silver surged Rs 1,000 to Rs 1.02 lakh per kg. Gold prices of 99.9 per cent and 99.5 per cent purity rose by Rs 500 each to Rs 81,500 per 10 grams and Rs 81,100 per 10 grams, respectively.

Subscribe to enjoy similar stories. Zomato Ltd’s September quarter (Q2FY25) result was decent. A key parameter – the gross order value (GOV) – of food delivery and Blinkit grew by 21% and 122% year-on-year, respectively.

Tube Investments of India Ltd. rose 0.74 per cent to Rs 4449.95 in Wednesday's trade. It hit an intraday high of Rs 4500.3 and low of Rs 4400.05, respectively, during the day. The stock quoted a 52-week high price of Rs 4666.0 and low of Rs 2881.3.

Karur Vysya Bank has given a good set of numbers. City Union Bank yesterday has given a good set of numbers and a few of the PSU banks have given a good set of numbers as well," says Mayuresh Joshi, Head Equity, Marketsmith India. Broader markets is where the pain is pretty sharp but one of the stock that is holding out in this sort of a market is ICICI Bank. While one end of the market, you have ICICI Bank that is holding onto the positive territory. You have IndusInd Bank that has hit a 52-week low on an intraday basis today. What is your take when you talk about the banking space as a whole then? Mayuresh Joshi: So, two things, one, the numbers for most banks, specifically the larger ones have been pretty good. Axis Bank gave a good set of numbers. HDFC Bank, good set of numbers and the commentary was equally encouraging. Kotak had their one misses in the numbers itself, so quite a few one-offs in the numbers. Expectations that as rate cut cycle starts in India as well, some element of positivity expected to come through.

GAIL (India) Ltd. traded 2.39 per cent down at Rs 214.3 at 01:44PM (IST) on Tuesday, even as BSE benchmark Sensex dropped 537.45 points to 80613.82. The scrip had closed at Rs 219.55 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 246.35 and Rs 116.2, respectively.

Bank of Baroda traded at Rs 236.3 on BSE at 01:33PM (IST) on Tuesday, down 3.82 per cent from previous close. The stock quoted a 52-week low price of Rs 187.95 and a high of Rs 298.45.

United Spirits Ltd. dropped 1.69 per cent to Rs 1471.0 at 01:39PM (IST) in Tuesday's trade. The counter has hit a high of Rs 1495.5 and low of Rs 1469.5 so far during the session. The stock had closed at Rs 1496.4 in the previous session. The counter has had a total traded volume of 19845 shares so far with a value of Rs 2.93 crore on the NSE. It traded at a price-to-earnings multiple of 75.62 and a price-to-book ratio of 11.55.

Mahindra Logistics Ltd on Monday reported 54 per cent decline in standalone Profit After Tax (PAT) at Rs 8.5 crore for September quarter FY25. The company had posted a PAT of Rs 18.6 crore in the second quarter of FY24, a statement said. Revenue during the quarter under review, however, increased 9 per cent to Rs 1,236 crore from Rs 1,136 crore in July-September FY24.

Benchmark NSE Nifty closed 72.96 points down at 24781.1 amid selling in frontline bluechip counters.

SRF Ltd. rose 1.77 per cent to Rs 2284.3 in Monday's trade. It hit an intraday high of Rs 2335.0 and low of Rs 2257.6, respectively, during the day. The stock quoted a 52-week high price of Rs 2697.45 and low of Rs 2081.25.

Info Edge (India) Ltd. dropped 1.56 per cent to Rs 7962.0 at 12:32PM (IST) in Monday's trade. The scrip hit a high of Rs 8161.1 and low of Rs 7960.85 so far during the session. The stock had closed at Rs 8088.3 in the previous session. The counter had a total traded volume of 12:32PM shares so far with a turnover of Rs 0.42 crore on BSE. The stock traded at a price-to-earnings multiple of 159.04 and a price-to-book ratio of 2.39.

<a rel=«dofollow» href=«https://economictimes.indiatimes.com/divi» s-laboratories-ltd. data-ga-onclick=«Inarticle articleshow link click#Markets#href» target="_blank">Divi's Laboratories Ltd. traded 0.96 per cent down in Monday's trade at 12:27PM (IST). Around 4,582 shares changed hands on the counter. The stock opened at Rs 6004.2 and touched an intraday high and low of Rs 6092.0 and Rs 5965.35, respectively, in the session so far. Shares of the company of <a rel=«dofollow» href=«https://economictimes.indiatimes.com/divi» s-laboratories-ltd. data-ga-onclick=«Inarticle articleshow link click#Markets#href» target="_blank">Divi's Laboratories Ltd. quoted a 52-week high of Rs 6276.2 and a 52-week low of Rs 3300.0.

smallcap company Netweb Technologies surged 10% to its new all-time high of Rs 2,949.65 on the BSE after reporting a 69.7% YoY (year-on-year) jump in its profit after tax (PAT) to Rs 25.7 crore. The same stood at Rs 15.14 crore in the second quarter of the financial year 2024.

GAIL (India) Ltd. gained 0.2 per cent to Rs 221.9 in Monday's trade as of 11:41AM (IST). The stock hit a high price of Rs 223.55 and low of Rs 220.6 during the session.

Rahul Malani, Banking Analyst, Sharekhan, says if one has an investment horizon of around three years, then this is a good entry point for HDFC Bank from a medium-term perspective. In the near term, it will continue to be guided by the news flows and the quarterly numbers. Malani does not see more than 10-15% upside in the next one to two years. But over three to four years, there is a scene for good re-rating. As for Kotak Mahindra Bank, the Street seeks a timeline for the lifting of the RBI embargo on issuing credit cards and onboarding more online customers via and also the overall submissions to the RBI were unclear. So, until and unless that clarity comes to the Street, Kotak Bank will continue to remain range-bound and trade with a negative bias. Let us start off with Kotak because that is an out-and-out disappointment. Do you think that is much in the price, given that the stock has languished for quite some time now? Rahul Malani: As you rightly alluded, the valuation mostly reflects all the intermittent headwinds. So, we do not feel that there will be a much negative reaction on the stock because the results were weak but that was on expected lines. However, the Street was looking at the timelines for the lifting of the RBI embargo, plus the overall submissions to the RBI that were unclear. So, until and unless that clarity comes to the Street, Kotak Bank will continue to remain range-bound and will trade with the negative bias.

JM Financial will be in focus on Monday after the company on Friday announced that the Reserve Bank of India has lifted the restrictions placed on its subsidiary, JM Financial Products Ltd, that prohibited it from engaging in any business related to funding for shares and bonds due to regulatory violations and governance issues. «We wish to inform you that the RBI, vide its letter dated October 18, 2024, has lifted the restrictions imposed by it on the company (JM Financial Products Ltd) through its order dated March 5, 2024,» JM Financial said in a regulatory filing.

Bill Maher recently made a candid plea for Vice President Kamala Harris to win the upcoming election, emphasizing that his prediction of her victory is on the line. During a segment of his show, Real Time, Maher expressed his hopes for a Harris win not only for political reasons but also to uphold his own track record of accurate predictions. “I predicted a month ago you’d win this thing, and if you blow it, it’s going to make me look bad,” Maher quipped, blending humor with his genuine political analysis, as per a report in The Wrap.