Lowe's Financial News

Astra Microwave Products share price jumped more than 7% to hit a fresh 52-week high on Friday after the company won orders worth ₹158 crore for satellite and radar systems. Astra Microwave share price jumped as much as 7.72% to a 52-week high of ₹398.60 apiece on the BSE. Astra Microwave bagged orders for supply of Satellite sub-systems, Airborne Radar and sub-systems of Radar and EW projects, from Defence Research and Development Organisation (DRDO), the Indian Space Research Organisation (ISRO) and Defence Public Sector Undertakings (DPSUs), the company said in an exchange filing.

DLF Ltd. dropped 1.31 per cent to Rs 477.3 at 12:43PM (IST) in Friday's trade.

Shriram Finance Ltd. traded 0.29 per cent lower in Friday's session at 12:48PM (IST).

Shoppers Stop share price cracked over 11 per cent in morning trade on BSE on Friday (August 25) a day after the company said the company's managing director (MD) and chief executive officer (CEO) Venu Nair resigned from his position. Shares of the company opened at ₹799.85 against the previous close of ₹811.45 and plunged 11.34 per cent to the level of ₹719.45 in trade soon. Around 11:45 am, the stock was trading at ₹724.65, down 10.70 per cent, on BSE.

Investing.com — Most Asian currencies fell on Friday, while the dollar surged to two-month peaks as markets hunkered down ahead of more signals on monetary policy from the Jackson Hole Symposium.

By Orathai Sriring and Kitiphong Thaichareon

Investing.com — Gold prices fell slightly on Friday as traders largely favored the dollar ahead of more signals on U.S. monetary policy from the Jackson Hole Symposium, although signs of weakening growth still kept gold above key levels. 

Bajaj Finance share price gained 2% in the early trade on Friday after global brokerage firm Nomura initiated coverage on the stock with a ‘Buy’ rating. Nomura has set a target of ₹8,700 for Bajaj Finance shares, which implies an upside of nearly 22% from Thursday’s closing price. Nomura said that Bajaj Finance continues to deliver strong numbers across the parameters with Asset Under Management (AUM) CAGR of 31% over FY13-Q1FY24.

Mahindra Lifespace Developers(up 0.92 per cent) and SOBHA(up 0.19 per cent) were among the top gainers. Macrotech Developers(down 3.39 per cent), Oberoi Realty(down 2.06 per cent), DLF(down 1.74 per cent), Godrej Properties(down 1.52 per cent) and Indiabulls Real Estate(down 0.94 per cent) were the top losers on the index. The Nifty Realty index was down 1.54 per cent at 531.7 at the time of writing this report. Benchmark NSE Nifty50 index was down 128.85 points at 19257.85, while the BSE Sensex was down 436.88 points at 64815.46. Among the 50 stocks in the Nifty index, 6 were trading in the green, while 44 were in the red. Shares of Jio Financial Servic, Vodafone Idea, Reliance Power, Suzlon Energy and GMR Infra were among the most traded shares on the NSE. Shares of Ind-Swift Labs, Virescent Renewable, KFIN Technologies, Gabriel India and Kaynes Technology In hit their fresh 52-week highs in today's trade, while Sadhana Nitro, Penta Gold, Zeal Global Services, Suumaya Lifestyle and Shrenik hit fresh 52-week lows in trade.

CRISIL, part of the financial services industry, gave a breakout from a one-year-old Cup and Handle formation on the weekly charts which has opened room for the stock to head towards 4400 levels in the next two months, suggest experts. Short-term traders can look to buy the stock now while investors holding the scrip can accumulate it on dips. The momentum helped the stock to hit a record high of Rs 4070 on the BSE on 23 August 2023. The stock witnessed a corrective phase after it touched a high of Rs 3860 on 2 May 2022. The stock underwent a period of consolidation and found support above Rs 2700 in December before bouncing back. The 'Cup and Handle' pattern is easy to identify.

Sensex declined 480.05 points to 64772.29. As many as 149,768 shares changed hands on the counter with a total value of Rs 992.0 crore. The stock quoted a 52-week high price of Rs 775.0 and a 52-week low of Rs 557.15. On the technical charts, the 200-DMA of the stock stood at Rs 642.14, while 50-DMA was at Rs 638.36. If a stock trades above 50 DMA and 200 DMA, it usually means the immediate trend is up.

Devendra Fadnavis met with the officials of one of the largest power generation companies 'JERA', which has invested in the Indian renewables power production space in 2016, and welcomed the company to once again invest in Maharashtra. Fadnavis met JERA's Senior Management officials Yuichiro Kato, Executive Officer, Head of the Low Carbon Fuel Value Chain Division, Toshihiro Oki, Executive Officer, Head of Renewable Energy Business Group and Tsuyoshi Oyama — General Manager, Head of Hydrogen and Ammonia Upstream Business Unit. The officials briefed Fadnavis about JERA business in Japan and globally. «JERA was created through the consolidation of the fuel and thermal power departments of the Tokyo Electric Power Company and the Chubu Electric Power Company. They have total assets of JPY 8.7 trillion / USD 60 bn.

Tata Power Company Ltd. traded 1.1 per cent down in Friday's trade at 10:56AM (IST).

In the international markets, spot gold eased 0.2% to $1,913.90 per ounce, while US gold futures shed 0.3% to $1,942. Gold has risen about 1.3% so far in the week, which could be its first week of gains this month, as prices climbed to their highest since August 10 on Thursday after a retreat in US Treasury yields. The October gold futures were trading at Rs 58,756 per 10 grams on the MCX at 9.49 a.m. and were down by Rs 55 or 0.09% from Thursday's closing price. Meanwhile, the September Silver futures were trading at Rs 73,392 per kg and were lower by Rs 176 or 0.24% around this time. The Federal Reserve is holding its annual symposium in Jackson Hole, Wyoming, from August 24-26.

Bajaj Holdings & Investment Ltd. gained 0.75 per cent to Rs 7204.5 at 10:40AM (IST) in Friday's trade.

Domestic benchmark index NSE Nifty fell 130.1 points to 19256.6, while the BSE Sensex traded 432.14 points down at 64820.2. On the other hand, KFIN Technologies, Virescent Renewable, Kaynes Technology In, Gabriel India and Global Pet Industrie stocks hit their fresh 52-week highs today. In the Nifty 50 index, Bajaj Finserv, ONGC, Bajaj Finance, BPCL and Maruti Suzuki were among the top gainers on the NSE. IndusInd Bank, L&T, SBI, Adani Ent.

Ashok Leyland Ltd. rose 0.26 per cent to Rs 185.35 in Friday's trade.

Gold rate today: On account of US dollar gaining strength and US dollar index climbing up to 11-week high of 104.25 levels, gold prices in international and domestic market continue to trade flat. Gold future contract on Multi Commodity Exchange (MCX) for October 2023 expiry opened lower at ₹58,743 per 10 gm levels and went on to hit intraday low of ₹58,696 levels.

Applications for unemployment benefits fell again last week as America’s labor market continues to hum along despite attempts by the Federal Reserve to cool the economy and bring down inflation that’s still higher than optimal

Antarctica's iconic symbol, the emperor Penguins is at the risk of 'quasi extinction' due to the abrupt reduction in sea ice. According to a study published Thursday by researchers from the British Antarctic Survey, colonies of emperor penguins failed to breed at a level never seen before in Antarctica. The study predicted that 90% of the emperor penguins “will be quasi-extinct" by the end of the century under the current global warming trajectory.

Jerome Powell delivers a high-profile speech Friday in Jackson Hole, Wyoming, many analysts think he could make one thing clear: That the Fed plans to keep its benchmark interest rate at a peak level for longer than had been expected. Powell isn't likely to say whether the Fed will continue raising rates. But he may signal that any rate cuts are unlikely until well into next year.