Experts Financial News

Reliance Power said it has received shareholders' approval to raise Rs 1,524.60 crore through issuance of preferential shares. A resolution through a postal ballot notice has been passed with requisite majority, the company said in a late night stock exchange filing on Wednesday. According to the postal ballot notice, the company will raise up to Rs 1,524.60 crore by preferential issue of up to 46.20 crore equity shares and/or warrants convertible into equivalent number of equity shares at a price of Rs 33 per apiece.

SRF Ltd. rose 0.49 per cent to Rs 2235.45 in Thursday's trade. It hit an intraday high of Rs 2258.95 and low of Rs 2160.0, respectively, during the day. The stock quoted a 52-week high price of Rs 2697.45 and low of Rs 2081.25.

<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. slipped 0.23 per cent to Rs 5710.0 in Thursday's trade as of 12:43PM (IST). The stock hit a high price of Rs 5766.5 and low of Rs 5691.15 during the session. The return on equity (ROE) for the stock stood at 11.78 per cent. Traded volume on the counter stood at 12:43PM shares and turnover at Rs 1.2 crore around that time. The stock 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 price of Rs 6276.2 and 52-week low prices of Rs 3300.0, respectively.

Reliance and Nvidia, a leading US-based company in Artificial Intelligence computing has announced a joint attempt in building AI infrastructure in India. The announcement was made by CEO Jensen Huang during a chat session with Mukesh Ambani at the Nvidia AI Summit 2024 on Thursday. The summit was being hosted by Nvidia, one of the world's leading tech companies for the first time in India. «It makes complete sense that India should manufacture its own AI. You should not export data to import intelligence. India should not export flour to import bread,» said Jensen Huang while in conversation with the Reliance Chairperson.

GAIL (India) Ltd. fell 0.11 per cent to Rs 211.2 in Thursday's trade as of 12:06PM (IST) even as the benchmark Nifty ruled at 24406.65, down 28.85 points. The scrip had closed at Rs 211.45 in the previous session. The stock quoted a 52-week low of Rs 116.2 and a high of Rs 246.35. The company quoted a market-cap of Rs 139096.23 crore on the BSE.

Federal Bank Ltd. gained 0.68 per cent to Rs 189.75 in Thursday's trade as of 12:01PM (IST). It hit a high of Rs 190.75 and low of Rs 186.45 during the session. The stock quoted a 52-week high price of Rs 206.55 and a low of Rs 137.3. The return on equity for the stock stood at 12.89 per cent. About 63,207 shares have changed hands on the counter so far.

«We like the CDMO space, no doubt about that and that is why we have only one player out there, which is probably one of the best players within that space as such,» says Dinshaw Irani, CEO, Helios Mutual Fund. Are you keen on pharma at all and which end of pharma, is it hospitals, diagnostic, domestic facing companies, CDMO players, export players, where is that you are finding value and comfort right now? Dinshaw Irani: So, basically, it is kitchen sinking out there. I mean, the way you stated. So, I do not know. We are very keen on obviously hospitals. We have got a couple of players there that we like and that is more of a call on the per capita is moving up in our country and obviously health becoming a bigger spend, that is what one saw in China or any other economy which was picking up as such, so that is one call that we have taken.

LTIMindtree Ltd. traded at Rs 5976.55 on BSE at 11:55AM (IST) on Thursday, up 0.71 per cent. The stock quoted a 52-week low price of Rs 4518.35 and a high of Rs 6575.0. Earlier in the day, the stock saw a gap up opening.

JHS Svendgaard Laboratories Ltd.(up 3.63%), Euro India Fresh Foods Ltd.(up 3.03%), Jyothy Labs Ltd.(up 2.91%), Gillette India Ltd.(up 1.63%), Prataap Snacks Ltd.(up 1.52%), Dangee Dums Ltd.(up 1.38%), Honasa Consumer Ltd.(up 1.09%), LT Foods Ltd.(up 0.87%), Adani Wilmar Ltd.(up 0.81%) and Patanjali Foods Ltd.(up 0.70%) were among the top gainers.

Simbhaoli Sugars Ltd.(up 4.99%), Kothari Sugars & Chemicals Ltd.(up 2.19%), DCM Shriram Industries Ltd.(up 1.42%), Balrampur Chini Mills Ltd.(up 1.14%), Vishwaraj Sugar Industries Ltd.(up 0.69%), EID Parry(India)Ltd.(up 0.63%), Uttam Sugar Mills Ltd.(up 0.59%), Dhampur Sugar Mills Ltd.(up 0.45%), KCP Sugar & Industries Corporation Ltd.(up 0.45%) and Avadh Sugar & Energy Ltd.(up 0.27%) were among the top gainers.

Ashok Leyland on Thursday announced that its electric mobility arm OHM Global Mobility has bagged an order for 500 12-m ultra-low floor electric buses from the Metropolitan Transport Corporation (MTC), Chennai. Further, another subsidiary of the commercial vehicle manufacturer, Switch Mobility, will supply EiV12 model buses to OHM, who in turn shall operate and maintain the buses over a period of 12 years, as per the contract awarded by MTC. This announcement comes days after the Hinduja Group's flagship company began delivery of electric trucks to Chennai-based Billion Electric Mobility (Member of Group BillionE), marking the company's growing focus on electric mobility. Ashok Leyland had bagged a contract to supply 180 electric trucks to Group BillionE which would be operated in the Chennai-Bengaluru, Chennai-Vijayawada routes.

While these forecasts cast a shadow over the future, there is a perspective from a key man of the financial world. Ben Powell, Chief Investment Strategist for APAC at BlackRock Investment Institute, believes India could benefit from the increasingly complex geopolitical environment—if the country plays its cards right. Powell said, while the global geopolitical situation may seem daunting, it could present unique opportunities for India.«When I think about a country like India, if they play the game skillfully, we can say that so far this is the case, and there is an ability to benefit from some of the geopolitical complexity, which for sure is causing worry, but also can create opportunity for those countries which are skillful and flexible enough to navigate what is a complicated environment,» Powell told ET Now.

REC Ltd. traded 2.87 per cent up at Rs 520.05 at 10:25AM (IST) on Thursday, even as BSE benchmark Sensex gained 9.11 points to 80091.09. The scrip had settled at Rs 505.5 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 653.9 and Rs 259.5, respectively.

DLF Ltd. gained 0.89 per cent to Rs 812.5 in Thursday's trade as of 10:29AM (IST). The stock hit a high price of Rs 817.1 and low of Rs 806.65 during the session.

Ashok Leyland Ltd. rose 1.61 per cent to Rs 217.65 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 160,875 shares with a turnover of Rs 3.48 crore till 10:20AM (IST). The stock traded at a price-to-earnings (P/E) multiple of 26.11, while the price-to-book value ratio stood at 5.58.

ACC Ltd. traded 0.78 per cent up in Thursday's trade at 10:35AM (IST). Around 3,149 shares changed hands on the counter. The stock opened at Rs 2251.1 and touched an intraday high and low of Rs 2293.25 and Rs 2232.0, respectively, in the session so far. The stock of ACC Ltd. quoted a 52-week high of Rs 2843.0 and a 52-week low of Rs 1803.8.

TVS Motor Company fell by 3% to the day’s low of Rs 2,490 on the BSE after the company reported a lower-than-expected quarterly profit, hurt by higher costs, even as demand was stable. The 'Jupiter' scooter maker's profit rose 23.5% to Rs 663 crore in the quarter ended September 2024, which missed analysts' estimate of Rs 697 crore.

Dalal Street since the Covid-led market crash in 2020. Sensex is down about 5% this month (till Wednesday), beating June 2022's record fall of 4.58%. One of the worst market falls in recent years was seen in February and March months of Covid year 2020 when the Sensex lost 6% and 23%, respectively.

JioCinema and Disney+ Hotstar. The developer, in a letter published on the website, has reached out to Reliance Industries, proposing that the company fund his higher education in exchange for the domain.

CCTV grab of a Pheran-clad terrorist allegedly involved in the Gagangir attack in Jammu and Kashmir has emerged here but investigators said they are yet to ascertain if the AK rifle-wielding assailant carried out the October 20 assault that left seven dead.The ultra could be seen entering a prefabricated hut, believed to be at the Gagangir tunnel construction site — where seven people including six non-local labourers — were killed in the terror attack, official sources said. However, security officials are trying to ascertain the authenticity of the image on various counts, the sources said. The screen grab has 'January 27' as the date stamp — which sources said could be due to a settings or technical issue — in the top right corner while the rifle carried by the terrorist has a blue marking on the muzzle.

rupee stayed flat at 84.07 against the US dollar in early trade on Thursday amid elevated crude oil prices and continuous withdrawal of foreign funds from capital market. However, the local unit found some cushion as the dollar retreated from its higher level while the domestic equity markets indicated a recovery, forex traders said. At the interbank foreign exchange, the rupee opened at 84.06 against the greenback and slipped 1 paisa to trade at previous day's closing level in initial deals.