Experts Financial News

Domestic benchmark index NSE Nifty fell 5.55 points to 19806.3, while the BSE Sensex traded 2.65 points down at 66020.59. On the other hand, Honasa Consumer, Munjal Auto Ind, Syncom Form, Man Infracons and Nandan Denim stocks hit their fresh 52-week highs today.

IPO watch: After opening of four more IPOs along with much awaited Tata Technologies IPO, primary market investors may find it difficulat to use their money in current scenario as most of these public issues are looking strong. At a time when stock market experts are expecting strong listing premium from these public offers, one should use one's money in smart manner and maximise one's return. According to stock market experts, out of these five mainboard issues — Tata Technoligies IPO, IREDA IPO, Gandhar Oil Refinery IPO, Flair Writing Industries IPO and Fedbank Financial Services IPO — Tata group's public issue is expected to deliver highest return followed by IREDA, Flair Writing, Gandhar Oil and Fedbank Financial Services.

₹387.65 apiece on the BSE. Honasa Consumer, the parent company of digital skincare firm Mamaearth, reported a net profit of ₹30 crore in Q2FY24, which doubled from the same period last year. Its revenue from operations grew 21% to ₹496 crore.

Honasa Consumer, which runs the Mamaearth brand of toxin-free products, on Thursday rallied around 12% to touch a fresh peak of Rs 393.95 on BSE after the beauty and personal care products retailer reported 94% year-on-year (YoY) growth in Q2 profit. Driven by volume growth, Honasa's quarterly revenue grew 21% YoY to Rs 496 crore while its Ebitda margin expanded 170 bps YoY to 8.1%, the highest ever. The company's management remains confident of delivering a 30% plus revenue growth going forward, similar to that in H1. It also expects Ebitda margins to keep improving on a YoY basis over the coming years, led by operating leverage and further optimisation of ad-spends. «We upgrade our FY24-26e Ebitda and EPS by 5-6%.

Jubilant Foodworks Ltd. gained 1.59 per cent to Rs 538.35 in Thursday's trade as of 10:00AM (IST). It hit a high of Rs 539.15 and low of Rs 527.65 during the session.

Varun Beverages Ltd. traded 1.62 per cent up in Thursday's trade at 10:05AM (IST). Around 40,884 shares changed hands on the counter.

DCM Shriram Industries(up 7.13%), MAGADHSUGAR(up 4.35%), Uttam Sugar Mills(up 3.65%), AVADHSUGAR(up 3.29%), EID Parry(up 2.84%), Simbhaoli Sugars(up 2.44%), BAJAJHIND(up 1.72%), Dwarikesh Sugar Industries(up 1.72%), Mawana Sugars(up 1.71%) and Dhampur Sugar Mills(up 1.64%) were among the top gainers. Balrampur Chini Mills(down 0.28%) were among the top losers.

WARANGAL: Two decades ago, Damera Yakamma's husband, a cotton farmer in a southern Indian village, committed suicide by consuming pesticide because of his mounting debts, leaving his widow in charge of their two acres of land. After that, the mother of four — then in her mid-twenties — decided she did not want any more chemicals entering her home. With the help of a non-profit in Telangana state's Warangal district, Yakamma and some other local farmers grew their first organic cotton crop in 2005 using natural manure and bio-pesticides. They benefited from lower costs, better health and soil, and premium market prices as buyers sought their higher-quality cotton. But they lost their organic certification in 2015 after a genetically modified cotton variety known as BT, promising higher yields and pest resistance, spread so widely across India that they could no longer buy indigenous seeds from dealers. Still the farmers stuck with natural growing methods to produce cotton sustainably, in a bid to meet growing demand from fashion brands that are increasingly adopting targets to cut climate-heating emissions in their value chains. According to the Confederation of British Industry, in 2020 sustainable cotton accounted for nearly 20% of the global cotton supply.

Dish TV, and Sun Direct—declined nearly 10% to Rs 11,072 crore in FY23, compared to Rs 12,284 crore the previous fiscal year, according to data obtained from the four firms' regulatory filings. Furthermore, the four DTH companies have incurred a net loss of Rs 2143 crore cumulatively, with Dish TV posting the biggest loss of Rs 1684 crore. All four DTH operators recorded losses in FY23, while three of the four DTH operators—aside from Dish TV—reported profits in FY22. However, Dish TV’s losses in both FY23 and FY22 were due to exceptional items amounting to Rs 1,908 crore in FY23 and Rs 2,654 crore in FY22, the company said in a statement. It added that the exceptional items were due to the impairment of intangible assets under development, trademarks or brands, property, plant equipment (PPE), and goodwill related to its merger with Videocon D2H and related accounting. Experts say that the DTH business is under stress due to a decline in the subscriber base and the average revenue per user (ARPU).

Origin Energy has postponed Thursday’s shareholder vote on its $18.7 billion takeover after it received a complex new bid, including an alternative transaction the board has called “inferior”.

The Albanese government will supercharge its struggling 82 per cent clean energy goal by dramatically expanding its underwriting of green generation and storage, effectively replacing the Renewable Energy Target favoured by some wind and solar proponents.

As of Tuesday, the IPO was subscribed a whopping 6.5 times, with the global engineering services provider getting bids for 29.5 crore shares, against 4.5 crore shares on offer. Analysts across the board have given a thumbs up to the IPO asking to subscribe to it or buy it post listing and have several positive reasons backing the same.

The Nifty future closed positive with gains of 0.23% at 19886 levels on Wednesday. India VIX was down by 2.98% from 12.23 to 11.86 levels. Volatility slightly cooled off but has been hovering in a range. Positive setup was seen in stocks like BPCL, Aurobindo Pharma, Bharat Forge, Persistent, NTPC, Cipla, Bajaj Auto, Infosys, Power Grid, and Apollo Hospital etc.

The BSE Sensex was trading 117 points or 0.18% higher at 66,140. Nifty50 was trading at 19,849, up 37 points or 0.19% at around 9.17 am. From Sensex stocks, Asian Paints, Nestle, Power Grid, JSW Steel, and Wipro opened with gains, while HUL, UltraTech Cement, Bharti Airtel, and TCS opened with cuts. Honasa Consumer, which operates the Mamaearth brand, surged 10% after the firm reported a 93% YoY growth in its net profit to Rs 29.4 crore for Q2 FY24. Meanwhile, shares of Cipla lost nearly 2% after the firm's Pithampur plant got a warning letter from the US FDA.

Alan Mamedi, Co-Founder, Truecaller, says he welcomes the Indian government bringing in laws on data privacy. “We think it is great. We think not only does it protect consumers like Truecaller does, but it also helps businesses. It empowers businesses to grow as well, but in a structured way,” says Mamedi. There have been instances of AI aided phone frauds with fraudsters impersonating a relative, friend or others. How is Truecaller tackling this menace? We launched our AI assistant that can pick up the calls.

revenue and profits for the six months ended September. While growth was board based, four-wheeler makers saw revenue growing at a faster pace than two-wheeler makers. This was on the back of a strong volume growth, led by robust demand both in the passenger vehicle and commercial vehicle segments, besides a strong traction in the electric vehicle space. Profit growth, however, was robust for the sector, aided by the easing pressure on input costs.

If the current trends sustain analysts expect the company to double investors' wealth on listing day itself. The robust demand was also seen in the subscription numbers as the issue was booked over 6 times on the first day itself. The IPO, which closes on November 24, is the first from Tata Group since TCS, which is also one of the reasons why the issue is generating considerable buzz. Also Read | Tata Technologies vs 4 other IPOs: Which is the best bet if you have to pick one? Analysts are overwhelmingly positive on the issue and, in fact, prefer the IPO over four others.

Hindustan Copper, Indiabulls Housing Finance, The India Cements, Manappuram Finance, the Multi Commodity Index of India (MCX), NMDC, RBL Bank and Zee Entertainment Enterprises (ZEEL). Chambal Fertilizers and Delta Corp have moved out of the ban. The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%. Traders who trade in indices do not encounter a situation of security ban.

Credit card spends rose 38.3% year-on-year(y-o-y) to an all-time high of Rs 1.8 trillion in October aided by strong festival season spends.

The Access to Nutrition Initiative (ATNI), a global independent non-profit organization on Wednesday launched its third edition of the India Index, in partnership with Consumer Voice and Confederation of Indian Industry.

Day trading guide for today: Following mixed trends in global market, Indian stock market ended mixed on Wednesday. Nifty 50 and BSE Sensex ended higher whereas Nifty Bank index finished in negative zone. The 50-stock index gained 28 points and closed at 19,811 levels whereas 30-stock index finished 92 points higher at 66,023 levels.