Experts Financial News

Ambuja Cements Ltd. traded 0.53 per cent down at Rs 419.0 on Tuesday at around 01:09PM (IST), while the benchmark BSE Sensex declined 188.18 points to 64770.51. As many as 38,799 shares changed hands on the counter with a total value of Rs 1.63 crore.

Ashok Leyland Ltd. traded 0.41 per cent lower in Tuesday's session at 01:14PM (IST). The stock opened at Rs 169.1 and has touched an intraday high and low of Rs 169.6 and Rs 168.25, respectively, during the session so far.

Revenue from operations grew 11% to Rs 593 crore in the reporting quarter as compared to Rs 532 crore in the corresponding quarter of the previous fiscal. The Board has declared an interim dividend of Rs 10 per share for the financial year 2023-24.

Devyani International reported a 43.2% fall in quarterly profit on Tuesday as a rise in raw material costs at the KFC and Pizza Hut operator overshadowed a bump in promotions-led demand at its fast-food chains. Consolidated net profit fell to 333.5 million rupees ($4.01 million) for the second quarter ended September 30, from 587.6 million rupees a year ago.

Pidilite Industries Ltd. slipped 0.43 per cent to Rs 2423.2 in Tuesday's trade as of 12:48PM (IST). The stock hit a high price of Rs 2444.0 and low of Rs 2420.8 during the session.

Havells India Ltd. traded at Rs 1249.3 on BSE at 12:43PM (IST) on Tuesday, down 1.06 per cent from previous close. The scrip quoted a 52-week low price of Rs 1092.0 and a high of Rs 1466.0.

MphasiS Ltd. traded 0.14 per cent up in Tuesday's trade at 12:38PM (IST). Around 1,982 shares changed hands on the counter.

Rich Lister Raphael Geminder’s buyout bid for packaging company Pact Group has struggled to make headway, with his Kin Group entity only reaching 51.53 per cent of the target with 24 hours to go on the original offer.

Voltas Ltd. traded 0.39 per cent down at Rs 824.15 at 12:22PM (IST) on Tuesday, even as BSE benchmark Sensex dropped 253.56 points to 64705.13.

Avenue Supermarts Ltd. traded 0.22 per cent down in Tuesday's trade at 12:33PM (IST). Around 2,122 shares changed hands on the counter.

Atul Limited's Board of Directors approved a share buyback worth Rs 50 crore at a buyback price of Rs 7,500 per share, the company informed in its filing to the exchanges. The pre-buyback holding of promoters stood at 45.06% as on November 3 which is expected to go up to 45.16% post the buyback. The stock fell 3.5% on the NSE following the announcement. On Tuesday, the board approved the buyback of fully paid up equity shares with face value of Rs 10 per share from the open market through stock exchanges. The price for the buyback will be payable in cash and it represents 1.20% and 1.19% of the total paid-up equity share capital and free reserves (including securities premium account) as per the audited standalone financial statements and audited consolidated financial statements for the financial year ended on March 31, 2023. The company will buyback shares from the equity shareholders and beneficial owners other than the promoters or promoter entities. At the maximum buyback size and the maximum buyback price, the indicative maximum number of equity shares to be bought back under the buyback will be 66,666 shares which represents 0.23% of the total number of outstanding equity shares of the company. Though the actual number of equity shares bought back during the buyback will depend upon the actual price of the share on the buyback date. The number of equity Shares bought back under the buyback will not exceed 25% of the total number of equity shares, the company filing said. The Board has also constituted a committee for the purpose of buyback. Atul is an integrated chemical company serving about 4,000 customers in 30 industries across the world, the company claims.

SRF Ltd. gained 0.59 per cent to Rs 2349.45 at 12:27PM (IST) in Tuesday's trade. The scrip hit a high of Rs 2349.45 and low of Rs 2322.8 so far during the session.

Gland Pharma climbed 6% to Rs 1,674.6 in Tuesday's trade on BSE despite the firm posting a 20% year-on-year (YoY) fall in consolidated net profit to Rs 194 crore for the September quarter of the financial year 2024. The company reported a profit of Rs 241.2 crore in the same period last year. However, its revenue came in at Rs 1,373.4 crore, up 32% from the year-ago quarter figure of Rs 1,044.4 crore. Meanwhile, the company's earnings before interest, taxes, depreciation and amortization (EBITDA) came in at Rs 320.5 crore, up from Rs 297 crore in the year-ago period. Following Q2 results, domestic brokerage firm Motilal Oswal reiterated its 'Buy' rating on Gland Pharma with a target price of Rs 1920. «Gland Pharma delivered an in-line operational performance in 2QFY24.

WeWork has filed for Chapter 11 bankruptcy protection, marking a stunning fall for the office sharing company once seen as a Wall Street darling that promised to upend the way people went to work around the world

Adani Power Ltd. slipped 0.76 per cent to Rs 390.7 in Tuesday's trade. It hit a high of Rs 401.85 and low of Rs 389.55 during the session.

RR Kabel jumped 6% to Rs 1,488.5 in Tuesday's trade on BSE after the firm's consolidated profit increased to Rs 74.1 crore in the July-September quarter, compared with Rs 35 crore a year earlier. Meanwhile, the company's revenue from operations surged 17.7% to Rs 1,609.7 crore in Q2 FY24 as compared to Rs 1,367.2 crore in Q2 FY23. The EBITDA in the quarter under review rose 92.7% to Rs 121.1 crore from Rs 62.8 crore in the same quarter last year. The margin was up to 7.5% in the June-September period as against 4.6% in the same quarter a year ago. «Throughout the past six months, RR Kabel has demonstrated a promising performance, marked by strong growth in our sales volume.

Lux Industries jumped over 10% on Tuesday to the day's high of Rs 1,530 on the NSE following the Indian market regulator's decision to revoke the securities market ban imposed by it on 14 entities on account of alleged insider trading in the company. In a 10-page order by the Securities and Exchange Board of India (SEBI), the regulator said that the charges levelled against them could not be sustained. The 14 entities include Udit Todi, the son of the managing director of Lux, who is currently holding the post of executive director in the company, according to Sebi's order. In January 2022, SEBI, through its interim order had barred 14 entities from indulging in insider trading and ordered impounding ill-gotten gains of Rs 2.94 crore in the matter.

Rajeev Thakker, CIO,PPFAS MF, says “ at a time when US bond yields are around 4 to 5% and threatening to go higher and for longer, I do not think one should be really looking at hitting sixes right now. People have made a good amount of returns in the last few years, not the last two years, but maybe from a five-year perspective. I think it is time to be more conservative in terms of the future outlook. I do not think it is a time to be very aggressive in terms of investing.” The PMS started with an AUM of less than Rs 500 crore, Is it worth Rs 20,000 crore now? Equity scheme is Rs 45,000 crore. So, Rs 45,000 crore of equity and you started in 2012? 2013.

Bharat Electronics Ltd. rose 0.32 per cent to Rs 138.05 at 11:57AM hours (IST) on Tuesday. Earlier in the day, the stock saw a gap up start to the session.

World Cup 2023 match. So much so, that someone on X (erstwhile, Twitter) tweeted, “Our batsmen are doing good because they practice with great bowlers. Our bowlers are doing good because they practice with great batsmen." In a few years from now, you may find people willingly discussing investments more effectively as they discuss cricket.