Experts Financial News

HDFC Asset Management Company Ltd. traded at Rs 4702.7 on BSE at 01:17PM (IST) on Thursday, down 2.69 per cent. The stock quoted a 52-week low price of Rs 2691.2 and a high of Rs 4862.0. Earlier in the day, the stock saw a gap up opening.

Cummins India Ltd. slipped 2.13 per cent to Rs 3715.1 in Thursday's trade as of 12:47PM (IST). The stock hit a high price of Rs 3838.55 and low of Rs 3711.0 during the session.

imported inflation reached a 13-month high in September 2024, growing by 2 per cent, according to a report by the State Bank of India (SBI). The report highlighted that imported inflation is increasingly contributing to the country's overall inflation, as rising prices of gold, oils and fats, and chemical products drive the increase. Imported inflation is the increase in the price of goods and services in a country due to higher costs of imported products.

REC Ltd. traded 1.8 per cent down in Thursday's trade at 12:42PM (IST). Around 116,013 shares changed hands on the counter. The scrip opened at Rs 556.95 and touched an intraday high and low of Rs 556.95 and Rs 534.5, respectively, in the session so far. Shares of the company of REC Ltd. quoted a 52-week high of Rs 653.9 and a 52-week low of Rs 259.5.

Cryptocurrency prices exhibited mixed trends on Thursday. Bitcoin (BTC) remained volatile but managed to stay above the $67,400 mark, while Ethereum (ETH) continued to hover around $2,600. Solana (SOL) and Shiba Inu experienced slight dips over the past 24 hours. As of 11:41 pm IST, Bitcoin was up 0.6%, trading at $67,433, having earlier reached a high of $68,375. Ethereum gained 0.17%, rising to $2,623.

A five-judge Constitution bench headed by Chief Justice DY Chandrachud said the Assam Accord was a political solution to the problem of illegal migration. Read More: Assam Accord: SC upholds constitutional validity of Section 6A of the Citizenship Act

Quick commerce firm Zepto has held discussions to raise another $100-150 million from a group of domestic family offices and high-net-worth individuals (HNIs) at a pre-investment valuation of $4.6 billion, sources aware of the matter said. The Mumbai-based startup has raised $340 million at the same valuation in August after which it was valued at $5 billion. Motilal Oswal Group’s private wealth arm is running the mandate for the fundraise and Motilal Oswal Asset Management Company has already committed about $40 million in this round, per sources. ET first reported on August 29 saying Motilal Oswal Financial Service chairman Raamdeo Agrawal has backed Zepto in his personal capacity. Agarwal has also invested in Swiggy’s pre-IPO placement which has gathered lot of interest among high-net worth individuals and family offices.

Vedanta Ltd. traded 1.35 per cent down in Thursday's trade at 12:37PM (IST). Around 1,752,628 shares changed hands on the counter. The counter opened at Rs 488.0 and touched an intraday high and low of Rs 492.8 and Rs 478.85, respectively, in the session so far. The stock of Vedanta Ltd. quoted a 52-week high of Rs 523.6 and a 52-week low of Rs 211.25.

Colgate-Palmolive (India) Ltd. traded at Rs 3420.0 on BSE at 12:33PM (IST) on Thursday, down 2.15 per cent from previous close. The scrip quoted a 52-week low price of Rs 2003.65 and a high of Rs 3893.0.

Digital Fashion Ventures Ltd, a wholly owned subsidiary of Aditya Birla Fashion and Retail Ltd, has invested Rs 75 crore in Wrogn, the men's wear brand backed by Accel and cricketer Virat Kohli. “ABDFVL, a wholly owned subsidiary of the company, has infused Rs 75 crore of the final remaining portion of the stated primary investments into Wrogn, thereby increasing its shareholding in Wrogn, from existing 17.10% to 32.84% on a fully diluted basis,” the firm said in a stock exchange filing. On June 19, ET reported that TMRW House of Brands, an ecommerce rollup venture owned by Aditya Birla Group Venture, had invested Rs 125 crore in Wrogn.

Ircon International shares are in focus after the company signed a Memorandum of Understanding (MoU) with Patel Engineering Limited. This agreement aims to foster collaboration between the two companies in exploring, identifying, and jointly executing mutually beneficial business opportunities in various infrastructure projects, both in India and overseas. The stock is also drawing attention due to the recent shareholding changes in the September quarter. Mutual funds reduced their stake in the railway infrastructure company, with holdings dropping to 0.31% as of September 30, down from 1.67% at the end of the June quarter. Notably, Quant Active Fund exited its position in Ircon during this period, after holding a 1.15% stake in the company as of June.

The BSE Sensex was up 41 points, or 0.05%, trading at 81,543, while the Nifty50 was down 14 points, or 0.06%, at 24,957 around 9:20 am.

As companies including Microsoft, Amazon, and Google rapidly expand their global data center capabilities, they are actively seeking new electricity sources. Amazon has signed three agreements to support the development of Small Modular Reactors (SMRs), which are more compact and potentially easier to deploy than traditional reactors.

₹1,865 to ₹1,960 per share.The Hyundai Motor India IPO achieved a 42% subscription on the second day of the subscription period, according to BSE data. Retail investors subscribed to 38% of the portion, while non-institutional investors reached 26%. The qualified institutional buyers (QIBs) portion saw a subscription of 58%.

Macquarie has a neutral rating on Bajaj Auto while Jefferies has a buy rating on KIE Industries. Macquarie has maintained its outperform rating on Zydus Life and Investec has retained a sell rating on L&T Technology.

Mphasis shares will be in focus on Thursday after the company reported a 4.6% sequential increase in net profit for the quarter ending September. The net profit stood at Rs 423 crore, up from Rs 404 crore in the first quarter. Revenue for the second quarter of fiscal 2025 rose by 3.3% to Rs 3,536 crore, compared to Rs 3,422 crore in the previous quarter.

LTTS) shares will be in focus on Thursday following the company's report of a marginal 2% increase in its consolidated net profit, reaching Rs 320 crore for the quarter ended September 2024, up from Rs 315 crore a year ago. In the same reporting period, revenue from operations rose by 8% year-on-year (YoY) to Rs 2,573 crore, compared to Rs 2,386 crore in the previous year.

The Nifty future closed negative with losses of 0.34% at 25032 levels on Wednesday.

Piyush Goyal recently held a crucial meeting with several prominent stakeholders from the pharmaceutical industry to address concerns of pharmaceutical exporters. The meeting held on Wednesday was attended by the General Secretary of the Indian Drug Manufacturers Association (IMDA), along with several other prominent stakeholders from the pharmaceutical industry. According to a statement by minister's office, the discussions aimed to address the pressing challenges faced by pharmaceutical exporters and explore potential solutions to enhance India's global standing in the sector.

Justin Trudeau admitted that his government had not provided «hard evidentiary proof» when accusing India of involvement in the killing of Khalistani terrorist Hardeep Singh Nijjar, the Ministry of External Affairs (MEA) on Thursday said Trudeau’s statement «only confirms» what New Delhi has maintained «consistently all along.» The MEA also blamed Trudeau's «cavalier behaviour» for damaging relations between India and Canada. «What we have heard today only confirms what we have been saying consistently all along—Canada has presented us no evidence whatsoever in support of the serious allegations that it has chosen to level against India and Indian diplomats,» MEA spokesperson Randhir Jaiswal said in an official statement. He added, «The responsibility for the damage that this cavalier behaviour has caused to India-Canada relations lies with Prime Minister Trudeau alone.»

Bikaji Foods International shares will be in focus on Thursday after the company announced that its wholly-owned subsidiary, Bikaji Foods Retail, will make a strategic investment of Rs 131.01 crore for a 53.02% stake in Hazelnut Factory Food Products. Hazelnut Factory is a café-cum-artisanal sweets brand based in Lucknow. The investment will be made in tranches, with the acquisition expected to be completed over the next two years, according to the company's stock exchange filing.