Experts Financial News

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.

Cummins India Ltd. traded 1.31 per cent up at Rs 3494.8 at around 01:02PM (IST) on Wednesday. The stock had closed at Rs 3541.4 in the previous session. Equity benchmark Sensex traded 284.58 points higher at 80505.3 around the same time.

<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. gained 0.01 per cent to Rs 5821.3 in Wednesday's trade as of 11:36AM (IST). It hit a high of Rs 5860.0 and low of Rs 5750.65 during the session. The stock quoted a 52-week high price of Rs 6276.2 and a low of Rs 3300.0. The return on equity for the stock stood at 11.78 per cent. About 2,020 shares have changed hands on the counter so far.

Indo-Tibetan Border Police (ITBP) team that came to his aid after he was rescued from the remote Ralam village in Uttarkhand’s Pithoragarh district following an emergency helicopter landing due to inclement weather and left stranded at over 12,000 feet. Ralam is a high Himalayan village and is typically deserted during winter. Despite this, three villagers — Ishwar Singh Nabiyal, Surendra Kumar, and Bhupendra Singh Dhakriyal — trekked over 38km through rugged terrain to reach Kumar, who was stuck without food or proper shelter. He was with two other poll officials and the pilot of the chopper. The villagers provided warm noodles and other essential supplies to the officials. They arrived at the village around 1:00 am after battling extreme conditions.

Hindustan Zinc surged 4% to Rs 535 in Wednesday's trade on the BSE after silver prices reached the Rs 1 lakh per kg mark in Delhi-NCR’s bullion markets on Tuesday. Hindustan Zinc is India's largest producer of silver and refined silver. Meanwhile, on Tuesday, December silver contracts on the MCX hit a new lifetime high of Rs 99,475, gaining Rs 2,019, or over 2%. March 2025 futures were trading at Rs 1,01,688, up Rs 1,847, or 1.85%.

Bombay High Court on Wednesday suspended the life sentence of gangster Chhota Rajan in connection with the murder of hotelier Jaya Shetty here in 2001 and granted him bail in the case. A division bench of Justices Revati Mohite Dere and Prithviraj Chavan directed Rajan to furnish a bond of Rs one lakh for the bail. Rajan will, however, continue to remain in jail in connection with other criminal cases. In May this year, a special court convicted Rajan in the hotelier's murder case and sentenced him to life imprisonment.

Kim Jong Un has visited missile bases to examine their readiness to undertake actions of «strategic deterrence», while calling U.S. nuclear capabilities a growing threat to the country, state media reported on Wednesday. The U.S. strategic nuclear arsenal poses an «ever-increasing threat» to North Korea's security environment, which demands that Pyongyang maintain a strict counteraction posture of its nuclear forces, he was quoted as saying by KCNA. North Korea has been stepping up its development of ballistic missiles and a nuclear arsenal, drawing international sanctions, and forming close military relations with Russia.

DSP Mutual Fund has announced a change in fundamental attributes of its two equity schemes: DSP Equity & Bond Fund and DSP Quant Fund. The changes will be effective from November 28. The fund house informed about these changes through a notice-cum-addendum.

NMDC has announced another price hike for its iron ore effective from October 23, a notification said. The price of lump ore has increased by 18.69 per cent since August this year and by 10.43 per cent in October alone to Rs 6,350 per tonne. While fines have seen a 17.35 per cent hike since August and a nearly 8 per cent rise in October to Rs 5,410 per tonne.

Tata Power Company Ltd. rose 0.91 per cent to Rs 440.0 in Wednesday's trade as of 11:41AM (IST) even as the benchmark Nifty ruled at 24568.1, up 96.0 points. The scrip had closed at Rs 436.0 in the previous session. The stock quoted a 52-week low of Rs 230.75 and a high of Rs 494.85. The company quoted a market-cap of Rs 140738.73 crore on the BSE.

Bay of Bengal intensified into cyclonic storm 'Dana' on Wednesday morning, the Odisha government expedited the evacuation of people from coastal areas and deployed 288 rescue teams in vulnerable areas across 14 districts, officials said. The state government has already mobilised 19 National Disaster Response Force (NDRF) teams, 51 Odisha Disaster Rapid Action Force (ODRAF) teams, and 178 Fire Services teams, with an additional 40 teams also deployed in the affected districts. On Wednesday morning, the Indian Air Force transported 150 NDRF personnel and relief materials to Bhubaneswar using two aircraft.

Adani Power Ltd. rose 0.42 per cent to Rs 590.3 at 11:10AM hours (IST) on Wednesday. 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 124,003 shares with a turnover of Rs 7.28 crore till 11:10AM (IST). The stock traded at a price-to-earnings (P/E) multiple of 14.24, while the price-to-book value ratio stood at 5.78.

Lexus Granito(India)Ltd.(up 12.95%), Gujarat Mineral Development Corporation Ltd.(up 7.77%), Oriental Trimex Ltd.(up 5.01%), Madhav Marbles & Granites Ltd.(up 4.40%), The Orissa Minerals Development Company Ltd.(up 3.66%), Ashapura Minechem Ltd.(up 3.46%), NMDC Ltd.(up 3.33%), MOIL Ltd.(up 2.62%), Sandur Manganese & Iron Ores Ltd.(up 2.32%) and Pokarna Ltd.(up 2.05%) were among the top gainers.

Indian Hotels Company Ltd. gained 0.51 per cent to Rs 659.35 in Wednesday's trade as of 11:16AM (IST). The stock hit a high price of Rs 662.7 and low of Rs 648.95 during the session. The return on equity (ROE) for the stock stood at 13.31 per cent. Traded volume on the counter stood at 11:16AM shares and turnover at Rs 2.16 crore around that time. The stock of Indian Hotels Company Ltd. quoted a 52-week high price of Rs 720.6 and 52-week low prices of Rs 371.45, respectively.

FIIs) ended up increasing stakes in 8 out of top 10 tech companies in India apparently to play the interest rate cut cycle in the US. September quarter shareholding pattern analysis shows that FII ownership in Infosys rose 54 basis points to 33.28%, TCS 31 bps to 12.66%, Tech Mahindra 40 bps to 23.67%, HCL Tech 22 bps to 18.67% and by 15 bps to 7.27% in case of Wipro.

stocks whose retail holdings exceed institutional stake in them, have turned multibaggers in the last one year period. In this, nine are scrips of state-run companies. An ETMarkets analysis finds over 600 stocks with market capitalisation of Rs 500 crore or more where retail holdings (shares worth up to Rs 2 lakh) are above institutional holdings i.e. stakes held by foreign institutional investors (FIIs), domestic institutional investors (DIIs) and mutual funds.

Paytm, while JPMorgan has an overweight rating on Bajaj Finance. Meanwhile, Nuvama has a buy rating, and Macquarie has an underperform rating on Zomato, respectively.

Nifty Index opened flattish on Tuesday but bears were in full control right from the beginning of the session. The selling intensity increased in the second half and the index broke 24,450 zones. It formed a bearish candle on a daily frame and closed below 24,500 zones with losses of around 310 points.

Meta Platforms and Chief Executive Mark Zuckerberg won the dismissal of a lawsuit claiming they misled shareholders in Meta's proxy statement about their ability to ensure the safety of children who use Facebook and Instagram. In a decision on Tuesday, US District Judge Charles Breyer in San Francisco said the plaintiff Matt Eisner failed to show that shareholders suffered economic losses from Meta's alleged inadequate disclosures. He also said federal securities law did not require Meta to detail the severity of sexually explicit content and sexual exploitation of children on its platforms, or all the child protection strategies it decided not to adopt.

Indus Towers are likely to be in focus on Wednesday after the Competition Commission of India (CCI) approved Bharti Airtel's plan to increase its stake in Indus Towers, following the telecom infrastructure company's share buyback. «The Commission approves an increase in the percentage shareholding of Bharti Airtel Ltd (Bharti Airtel) in Indus Towers Ltd (Indus Towers) to 50.005% pursuant to buyback of shares by Indus Towers,» CCI said in a release.

Godavari Biorefineries will open for subscription on Wednesday. The issue will be available for bidding till October 25. The IPO includes a fresh issue worth Rs 325 crore and an offer-for-sale (OFS) of up to 6.53 million shares by existing shareholders and promoters. Private equity firm Mandala Capital AG will exit the company, selling its entire stake of 49,26,983 shares in the OFS.