Experts Financial News

Trent Ltd. slipped 0.09 per cent to Rs 2557.5 in Wednesday's trade. It hit a high of Rs 2577.0 and low of Rs 2534.8 during the session.

Federal Bank has announced that it has launched the UPI (Unified Payment Interface) Lite functionality for small-value digital payments. UPI Lite allows an individual to store money in their UPI Lite on-device wallet and make offline payments to merchants.

Varun Beverages Ltd. traded at Rs 1016.55 on BSE at 02:00PM (IST) on Wednesday, up 0.78 per cent from previous close. The scrip quoted a 52-week low price of Rs 537.77 and a high of Rs 1024.95.

ASK Automotive shares should do it from a medium-to-long-term perspective, a couple of analysts recommended. The stock made a modest debut on the exchanges at a premium of nearly 8% today.

Tube Investments of India Ltd. dropped 0.39 per cent to Rs 3154.0 at 02:10PM (IST) in Wednesday's trade. The counter hit a high of Rs 3203.7 and low of Rs 3130.5 so far during the session.

Labor will move to enshrine the State Electricity Commission in Victoria’s Constitution to head off what it says is the threat of a future Coalition government abolishing it.

Multibagger stock: Sigachi Industries shares are one of those stocks that might delivere multibagger return in YTD. This pharma stock has surged to the tune of 96 per cent in 2023 and looking all set to double positional investors' money in YTD. However, before it could double shareholders' money, it has climbed to a new 52-week high of ₹55.85 per share levels on NSE.

Shyam Metalics and Energy (SMEL), a leading integrated metal producer with an unchanged target price of ₹690 apiece, indicating an upside of 45%. Despite the company's Q2FY24 EBITDA falling short of its estimates, the brokerage expects a ramp-up of DRI-IF route capacity, the recent uptick in prices, and the commencement of stainless-steel capacity at Mittal Corp to aid the company's EBITDA in H2FY24. The brokerage highlighted that the company has a net debt/EBITDA of 0.74x, the best among peers.

DP World has confirmed hackers stole data during a breach that forced it to shut down ports around the country last week and which experts say was likely to have stemmed from its failure to patch a widely known security flaw.

Prime Minister Narendra Modi released the 15th installment of the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) scheme worth over Rs 18,000 crore to more than 8 crores farmers on November 15, 2023, during his Jharkhand visit. Eligible farmers will receive Rs 2,000 installment under the scheme, as the 15th instalment under the scheme. PM Kisan KYC: How to update eKYC to receive Rs 2,000 instalment According to the PM Kisan website, “eKYC is MANDATORY for PMKISAN Registered Farmers. OTP Based eKYC is available on PMKISAN Portal or nearest CSC centres may be contacted for Biometric based eKYC.” 15th instalment of PM-KISAN and other development initiatives According to the PM India Government website, “In a step that will showcase yet another example of commitment of the Prime Minister towards welfare of farmers, the 15th instalment amount of about Rs.

Ambuja Cements Ltd. traded at Rs 420.85 on BSE at 12:23PM (IST) on Wednesday, up 0.35 per cent. The stock quoted a 52-week low price of Rs 315.3 and a high of Rs 598.15.

Siemens AG will buy an 18% stake from Siemens Energy in their Indian joint venture Siemens Ltd for €2.1 billion, which is a discount of 15% on the average price. «The purchase price reflects a customary discount of 15% on the 5-trading-days volume-weighted average price before the day of signing,» said Siemens AG. Siemens shares rallied around 4% to Rs 3566.50 on BSE following the news. September quarter shareholding pattern shows that Siemens Energy owned a 24% stake in Siemens Ltd, while Siemens International owned 47.70% in the company. The remaining 3.3% stake is owned by Siemens Metals Technologies, which is also a promoter group company. Earlier in the day, Siemens Energy said it is reviewing the structure of Siemens Gamesa in a bid to return to profit the struggling wind division which caused a €4.6 billion ($5.0 billion) annual net loss for the group. Siemens Gamesa once considered the future growth driver for Siemens Energy, has become a millstone around the group's neck after deeper-than-expected wind turbine quality issues were disclosed in June. The division is now only expected to break even in the 2026 fiscal year, Siemens Energy said. A day earlier, Siemens Energy secured a €12 billion credit line from private banks that were partly backstopped by the German government, removing a major concern for investors who feared the group could lose out on business as a result. The group, which was spun off from Siemens AG in 2020, said it made no further provisions for faulty onshore turbine platforms following an analysis of its fleet.

Adani Power Ltd. dropped 0.19 per cent to Rs 390.1 at 12:33PM (IST) in Wednesday's trade. The stock has hit a high of Rs 397.3 and low of Rs 388.1 so far during the session.

Godrej Consumer Products Ltd. gained 0.39 per cent to Rs 985.45 at 12:18PM (IST) in Wednesday's trade. The stock hit a high of Rs 990.2 and low of Rs 980.65 so far during the session.

Indian Oil Corporation Ltd. gained 1.42 per cent to Rs 100.38 in Wednesday's trade as of 12:28PM (IST). It hit a high of Rs 101.12 and low of Rs 99.2 during the session.

InterGlobe Aviation Ltd. traded 0.48 per cent up at Rs 2551.85 at 12:38PM (IST) on Wednesday, even as BSE benchmark Sensex gained 601.82 points to 65535.69. The scrip had settled at Rs 2539.65 in the previous session.

Manappuram Finance, an NBFC firm, rallied sharply in Wednesday's trading session as investors reacted positively to the company's Q2FY24 performance. The company on Monday reported a 37% YoY jump in its consolidated net profit at ₹560.65 crore. In the corresponding quarter of last year, the company recorded a net profit of ₹409.5 crore.

SRF and Aarti Industries have seen 11-18 % rise in their share prices since their October Lows. The outlook for the specialty chemical manufacturers is improving and they are expected to have seen earnings to have bottomed out. The weak demand from developed markets led to increased concerns about specialty chemical manufacturers during the first half of FY24.

Stock market today: Shares of ASK Automotive Limited listed on BSE and NSE in special pre-open session at around 7.5 per cent premium during Wednesday deals. However, the auto stock didn't end after positive listing. ASK Automotive share price went up further and went on to hit intraday high of ₹311.75 per share on BSE and ₹312 apiece on NSE respectively.

On the BSE, Promax Power(down 20.00 per cent), Retina Paints(down 19.12 per cent), DRA Consultants(down 14.45 per cent), Transvoy Logistics(down 13.41 per cent) and Innokaiz India(down 11.87 per cent) were among the stocks that plunged over 5 per cent during the session. In the Nifty pack, 42 stocks traded in the green, while 8 stocks traded in the red.

Jubilant Foodworks Ltd. traded 2.01 per cent up at Rs 514.4 on Wednesday at around 11:06AM (IST), while the benchmark BSE Sensex advanced 594.5 points to 65528.37. As many as 20,833 shares changed hands on the counter with a total value of Rs 1.06 crore.