Experts Financial News

Sona BLW Precision Forgings Ltd.(up 2.89 per cent), Balkrishna Industries Ltd.(up 2.53 per cent), Eicher Motors Ltd.(up 2.32 per cent), TVS Motor Company Ltd.(up 1.39 per cent) and Bharat Forge Ltd.(up 1.24 per cent) were among the top gainers. Tube Investments of India Ltd.(down 0.57 per cent) and Mahindra & Mahindra Ltd.(down 0.08 per cent) were the top losers on the index.

Shriram Finance Ltd. rose 1.66 per cent to Rs 2001.55 at 11:01AM hours (IST) on Wednesday. Earlier in the day, the stock saw a gap up start to the session.

Bharat Forge Ltd. traded 1.21 per cent up in Wednesday's trade at 11:11AM (IST). Around 6,707 shares changed hands on the counter.

GlaxoSmithKline Pharmaceuticals Ltd.(up 3.65 per cent), Glenmark Pharmaceuticals Ltd.(up 2.45 per cent), Biocon Ltd.(up 1.27 per cent), Alkem Laboratories Ltd.(up 0.86 per cent) and Lupin Ltd.(up 0.7 per cent) were among the top gainers. Natco Pharma Ltd.(down 1.8 per cent), Aurobindo Pharma Ltd.(down 1.14 per cent), Ipca Laboratories Ltd.(down 0.99 per cent), Laurus Labs Ltd.(down 0.84 per cent) and Abbott India Ltd.(down 0.7 per cent) were the top losers on the index.

Sriram Velayudhan, Vice-President, IIFL Securities, says the Standard Index will see nine additions, the highest of them in terms of impact being Tata Motors DVR, which we are expecting in close to the tune of $145-$150 million which is a big ADV of almost 13 days, followed by Macrotech and APL Apollo. These are high inflow additions in terms of ADV to the tune of 10 to 11 days. No stocks have been deleted from the Standard Index and a lot of interesting names have been added. What is your view? MSCI made the announcement relating to the November review early Wednesday morning India Standard Time. As you rightly pointed out. So, there are not any deletions for the forthcoming review. This purely works on the basis of the methodology that MSCI has put out. We are not seeing any deletions in this review. In terms of addition, the Standard Index will see nine additions, the highest of them in terms of impact being Tata Motors DVR, which we are expecting in close to the tune of $145-$150 million which is a big ADV of almost 13 days, followed by Macrotech and APL Apollo. These again are high inflow additions in terms of ADV to the tune of almost 10 to 11 days. The other closely followed addition is IndusInd Bank wherein we have been following the foreign room for the last couple of quarters.

ASK Automotive listed at a premium of 8% on the exchanges on Wednesday. The stock debuted at Rs Rs 304.9 on BSE, up 8.1% over the IPO price of Rs 282.

Orissa Minerals Development Company(up 2.33%), KIOCL(up 1.46%), Sandur Manganese & Iron Ores(up 1.31%), Coal India(up 0.79%), Oriental Trimex(up 0.71%), Pokarna(up 0.68%), 20 Microns(up 0.58%), Gujarat Mineral Dvpt Corporation(up 0.45%), Madhav Marbles and Granites(up 0.30%) and Ashapura Minechem(up 0.30%) were among the top gainers. NMDC Ltd(down 3.34%), MOIL(down 1.92%), Aro Granite Industries(down 1.13%) and Lexus Granito(down 0.37%) were among the top losers.

Info Edge (India) Ltd. gained 4.23 per cent to Rs 4700.0 at 10:05AM (IST) in Wednesday's trade. The stock hit a high of Rs 4709.45 and low of Rs 4545.05 so far during the session.

MphasiS Ltd. gained 4.2 per cent to Rs 2240.6 in Wednesday's trade as of 10:00AM (IST). The stock hit a high price of Rs 2272.6 and low of Rs 2190.0 during the session.

Solara Active Pharma Sciences with a target price of Rs 400. The current market price of Solara Active Pharma Sciences Ltd.

Ashok Leyland with a target price of Rs 200. The current market price of Ashok Leyland Ltd.

Federal Reserve may be done raising interest rates. The BSE Sensex was trading 551 points or 0.85% higher at 65,485. Nifty50 was trading at 19,618, up 174 points or 0.90% at around 9.22 am.

Indiabulls Housing Finance and an overweight rating on Grasim. BNP Paribas has a buy rating on Ashok Leyland and M&M. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Morgan Stanley on Indiabulls Housing: Buy| Target Rs 103 Morgan Stanley maintained a buy rating on Indiabulls Housing with a target price of Rs 103.

City Union Bank Ltd, part of the private sector banking space, has fallen by about 30% from December 2022 highs but the stock gave a breakout from a channel pattern last week which has opened room for the stock to head higher. As long as the stock stays above 136-140, bulls will be able to make a comeback, suggest experts. If the momentum continues, the short-term target is placed around 160, they say. The private sector bank hit a 52-week high of Rs 204.95 on 15th December 2022, but it failed to hold on to the momentum.

ASK Automotive IPO: Listing date of the initial public offering (IPO) of ASK Automotive Limited has been fixed on 15th November 2023 i.e. today. As per the information available on official website of BSE, "....

Buy or sell stocks for today: Witnessing sell off in late hours, Indian stock market ended close to its intraday low on Monday. Nifty 50 index finished 82 points lower at 19,443 levels, BSE Sensex gained 325 points and closed at 64,933 mark whereas Bank Nifty index added 105 points and ended at 43,891 levels. Volumes on the NSE were at the lower end of the range.

Indian economy likely expected 6.7% in the July-September quarter, according to a median forecast of 10 economists polled by ET, boosted by a strong performance by the services sector. The Reserve Bank of India (RBI) has forecast 6.5% growth in the quarter. Robust manufacturing and construction activity also likely contributed to growth in the second quarter, economists said. Forecasts ranged from 6.2% to 7%.

Telecom operators, chip makers, network providers and handset makers have strongly opposed any hurried decision on a proposed idea to beam TV content directly to mobile phones without a cellular data connection, as the technology is still immature. The smartphone industry is worried that adoption of the proposal making it mandatory for devices to offer support to direct-to-mobile (D2M) broadcasting will increase the cost of devices by $30 (₹2,500) at least.

climate change the «health of humanity is at grave risk». Lethal heat was just one of the many ways the world's still-increasing use of fossil fuels threatens human health, according to The Lancet Countdown, a major annual assessment carried out by leading researchers and institutions. More common droughts will put millions at risk of starving, mosquitoes spreading farther than ever before will take infectious diseases with them, and health systems will struggle to cope with the burden, the researchers warned. The dire assessment comes during what is expected to be the hottest year in human history — just last week, Europe's climate monitor declared that last month was the warmest October on record. It also comes ahead of the COP28 climate talks in Dubai later this month, which will for the first time host a «health day» on December 3 as experts try to shine a light on global warming's impact on health. Despite growing calls for global action, energy-related carbon emissions hit new highs last year, the Lancet Countdown report said, singling out still massive government subsidies and private bank investments into planet-heating fossil fuels. — 'Crisis on top of a crisis' — Last year people worldwide were exposed to an average of 86 days of life-threatening temperatures, according to the Lancet Countdown study.

Tata Consultancy Services to the very top of the valuation leader-board at the country's most-valued conglomerate, which has a market capitalisation of about ₹25 lakh crore. Other details, including pricing of the nearly 61-million share issue at the Tata Motors-owned unit, will be announced closer to the IPO date. Tata Motors said Monday its engineering services subsidiary has filed its Red Herring Prospectus with the Registrar of Companies in Pune. This IPO will entirely be an Offer for Sale (OFS) by existing shareholders, with Tata Motors intending to sell up to 46.2 million shares in the IPO, representing 11.4% of Tata Technologies' equity. Alpha TC Holdings will offload 9.7 million shares, or 2.4% of the company's equity, and Tata Capital Growth Fund 1 will sell 4.9 million shares, representing 1.2% of its equity.

investments they were counting on for hefty returns. With public markets in a slump and offering unattractive valuations, buyout firms are exploring private sales. But mounting concerns about the risks of investing in mainland China have left so-called secondary buyers demanding discounts of 30% to more than 60%, according to people familiar with the market.