Experts Financial News

rupee depreciated 4 paise to 83.26 against the US dollar in the morning session on Friday, tracking a strong American currency overseas and sustained foreign fund outflows. Forex traders said a positive trend in domestic equities supported the local unit at lower levels and restricted the downside.

CA Rudramurthy, Founder, Vachana Investments, says “I will be a buyer at BHEL at current market price. And I will keep a strict stop-loss of Rs 124 and look at targets of around Rs 133 first to come and then to those levels of Rs 145 to 150. So buy BHEL. avoid Delta Corp. Vedanta has shown clear signs of reversal. I will be a buyer in Vedanta, looking at targets of Rs 235 with a stop-loss of Rs 226. Tata Communication also looks very strong to me. I will be a buyer looking at targets of Rs 1,750 with a stop-loss of Rs 1,695.” What do you make of this breakout in Vodafone Idea? Also while there is no new news flow as such today but Macrotech Developers saw quite a bit of action? First of all a word on Idea. For the last four trading sessions, this stock has definitely shown positive price action with volume. So, for me this is a breakout which will stay. So, the breakout which has happened now at around Rs. 12.50 will continue and we have also seen yesterday a close of about Rs. 12.50. So, this stock is headed upwards and can move towards levels of around Rs. 17-20 range., I will keep a stop loss of Rs. 12 and continue holding if I have Vodafone or even buy at current level looking at targets of Rs. 17-20 with a stop loss of Rs. 12.

Transformers and Rectifiers(India)(up 10.46%), Voltamp Transformers(up 6.67%), KPI Green Energy(up 5.04%), Suzlon Energy(up 4.90%), Orient Green Power Company(up 4.84%), Jyoti Structures(up 4.66%), Torrent Power(up 4.33%), Adani Power(up 2.98%), DPSC(up 2.80%) and RTNPOWER(up 2.16%) were among the top gainers. Alstom T&D India(down 1.13%), Karma Energy(down 0.92%), Kalpataru Projects International(down 0.61%), KEC International(down 0.60%), Hitachi Energy India(down 0.60%), SJVN(down 0.47%) and NTPC(down 0.28%) were among the top losers.

Vedanta Ltd. traded at Rs 232.6 on BSE at 10:25AM (IST) on Friday, up 1.54 per cent from previous close. The scrip quoted a 52-week low price of Rs 207.85 and a high of Rs 340.75.

Shriram Finance Ltd. rose 1.71 per cent to Rs 1988.2 in Friday's trade. It hit an intraday high of Rs 1996.7 and low of Rs 1954.05, respectively, during the day.

Cholamandalam Investment & Finance Company Ltd. traded 2.25 per cent higher in Friday's session at 10:20AM (IST). The stock opened at Rs 1190.0 and has touched an intraday high and low of Rs 1217.0 and Rs 1179.45, respectively, during the session so far.

BSE on Friday, November 3 ahead of the company's September quarter earnings. The company's board is to meet on Friday to consider and approve the unaudited financial results for the second quarter and half year ended September 30, 2023. Titan share price opened at ₹3,214 against the previous close of ₹3,201.30 and rose about 1.7 per cent to the level of ₹3,256 within the first 30 minutes of trade.

JK Lakshmi Cement, part of JK Organization, witnessed a notable 6.77% surge in its stock price, hitting a four-month high of ₹719.90 per share during Friday's early trading session, propelled by its impressive Q2FY24 performance. At 10:00 AM, the stock was trading with a gain of 5.17% at ₹709. The company released its Q2FY24 numbers post-market hours on Thursday, with a 55% surge in its consolidated net profit at ₹96 crore.

rupee ended at 83.24 against the US dollar. “Most traders are betting that the US FED is done with rate hikes and therefore we saw some reprieve in the rising dollar index," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.

Dabur India share price: Dabur share price rose over a per cent in early trade on NSE on Friday, November 3, extending its gains of the previous session after the FMCG company's Q2 earnings. Dabur share price rose 2.57 per cent to close at ₹530.40 in the previous session on Thursday after the company reported its September quarter earnings. On Friday, Dabur share price opened at ₹534.10 and soon rose 1.3 per cent to the level of ₹537.10 on the NSE.

Bank of India (SBI), HDFC, ICICI, and others are not quite enticing. The RBI Floating Rate Savings Bonds 2020 (Taxable) is set to offer an interest rate of 8.05%, a significant increase from its current 7.35% rate. This bond's interest rate is linked to the National Savings Certificate (NSC), which recently saw an increase to 7.7%.

Seal Team" is here with Season 7’s debut on CBS this Thursday night. The military drama, which has captivated viewers with its intense depiction of Navy SEALs in action, continues to blend thrilling missions with deep personal stories.

₹225 per share, 125% higher than the issue price of ₹100. Paragon Fine And Speciality Chemicals IPO's price band was set in the range of ₹95 to ₹100 and investors can bid for a minimum of 1200 shares and in multiples thereof.

stocks and raised bets on IT stocks in the September quarter. An analysis of shareholding patterns of BSE-listed companies shows that LIC dumped at least 84 stocks like Tata Motors, Reliance Industries (RIL), Dr. Reddy's Laboratories, TVS Motor, Dixon, ONGC, Reliance Power and Tata Elxsi. Of particular interest was LIC's strategy in dealing with banks and IT stocks.

Domestic benchmark index NSE Nifty gained 128.1 points to 19261.35, while the BSE Sensex traded 416.03 points up at 64496.93. On the other hand, Industrial Invst, Trans & Rectif, GKW Ltd, Senco Gold and Shriram EPC stocks hit their fresh 52-week highs today.

Tata Motors share price rallied over 4% in early trade on Friday after the company reported September quarter earnings in line with Street estimates. Tata Motors shares jumped as much as 4.49% to ₹665.45 apiece on the BSE. Auto major Tata Motors on Thursday reported a consolidated net profit of ₹3,783 crore for the second quarter of FY24, driven by robust performance by Jaguar Land Rover.

Tube Investments of India Ltd. gained 2.52 per cent to Rs 3205.05 at 10:10AM (IST) in Friday's trade. The counter hit a high of Rs 3225.0 and low of Rs 3135.0 so far during the session.

Tata Motors Ltd.(up 2.89 per cent), Tube Investments of India Ltd.(up 1.81 per cent), Hero MotoCorp Ltd.(up 1.71 per cent), Eicher Motors Ltd.(up 1.1 per cent) and Bharat Forge Ltd.(up 0.96 per cent) were among the top gainers. were the top losers on the index.

Tata Steel and Dabur India who declared their quarterly earnings this week. US brokerage Citi downgraded Tata Steel and slashed the price target on concerns over Europe operations coupled with domestic steel prices. Meanwhile, Jefferies has recommended a ‘Hold’ rating on the FMCG play Dabur India while CLSA has an outperform stance on the counter.

Shashank Srivastava, Senior Executive Officer (Marketing and Sales), Maruti Suzuki India Ltd, says “the stock in the industry is now roughly 3,35,000-3,36,000 which is about 30 days of inventory and that is the trend which we have observed in Maruti Suzuki also. Going forward, if the retail sales are good in the balanced part of the festive season that is in the next two weeks, we will see a reduction in the inventory. However, it really depends on how the retail moves in the next two weeks.” Good sales number for October. But in November, will it capture the real festive season? Can we see the sales momentum surpassing the 2 lakh? The momentum continues this quarter and this month as well? Yes, so first of all the 2 lakh number that we came so close to in this last month of October is both the domestic passenger vehicle and the export numbers put together as also the OEM supply. These are wholesale numbers, so while the retail sales in the first 15 days should be really positive because of the Dhanteras, Diwali, Bhai dooj festival, it really depends on how the retail sales happen in this period. Remember, the next month is December, generally the channel does not add stock in that month because they do not want to carry the last year's model stock. Therefore I would not expect the numbers to be much larger, it all really depends on how the retail moves in the first 15 days of October.

The BSE Sensex was trading 373 points or 0.58% higher at 64,454 while Nifty50 was at 19,254, up 120 points or 0.63%. In the Sensex pack, Tata Motors was the top gainer, rising nearly 3% as the firm reported a net profit of Rs 3,764 crore for the quarter ended September 2023, against a net loss of Rs 945 crore a year ago. Meanwhile, Tech Mahindra, Infosys, ICICI Bank, M&M, HCL Tech, and Wipro also opened higher. On the other hand, only Tata Steel, NTPC, and Bharti Airtel opened lower. All sectoral indices opened higher.