Lowe's Financial News

Marico fell nearly 5% to Rs 543.9 in Thursday's trade on BSE after the September quarter business update by the Indian consumer products maker disappointed investors. Marico's domestic volumes grew in a low single-digit percentage range over the previous year, dragged by a persisting weakness in rural demand. «During the quarter, demand trends largely mirrored the trends observed in the preceding quarter,» the company said in an exchange filing. Rising food prices and below-normal rainfall distribution in some regions impeded the anticipated recovery in rural demand, according to the company. The packaged consumer goods maker, however, is hopeful of a recovery in consumption trends, particularly in rural areas, in the second half of the fiscal. This is thanks to retail inflation levels staying within the Reserve Bank of India’s target range, a hike in MSPs, a healthy sowing season, easing liquidity pressures, and government spending. The company's domestic volumes grew 3% in the preceding quarter. Subdued rural demand, coupled with a move to cut prices of its Saffola edible oil, also impacted the company's revenue in the September quarter. Additionally, the company said that currency depreciation in certain overseas markets negatively impacted the reported INR growth of the international business. The firm experienced low single-digit year-on-year growth in domestic volumes for its known products like Parachute coconut oil and Saffola Edible Oils. The company's international businesses logged a double-digit constant currency growth.

Tata Elxsi Ltd. rose 0.16 per cent to Rs 7264.9 in Thursday's trade. It hit an intraday high of Rs 7316.7 and low of Rs 7232.0, respectively, during the day.

U.S. dollar demand from importers and local oil companies offset a softness in the greenback. The rupee was at 83.2350 against the U.S. dollar as of 11:30 a.m.

Goldman Sachs Group Inc. “The sharp rally since end-March, expensive valuations and global macro risks (high oil, high US rates, strong dollar) warrant a tactically conservative stance over the next three to six months,” analysts including Sunil Koul and Amorita Goel wrote in a note. While this year’s surge in equity markets makes for a great backdrop for Prime Minister Narendra Modi — who is seeking a third term in office — a sense of caution is building. Goldman’s view comes as overseas investors sold $2.3 billion worth of Indian stocks on a net basis in September, following six months of inflows. The polls are likely to have a bearing on economic policy and reforms at a time the world’s fastest-growing major economy is increasingly seen as an alternative to China. Goldman retained its market-weight stance on India in early July, from where the Nifty 50 Index has remained little changed.

Shree Cements Ltd. traded 0.67 per cent up at Rs 25614.45 at 11:52AM (IST) on Thursday, even as BSE benchmark Sensex gained 471.36 points to 65697.4. The scrip had closed at Rs 25443.15 in the previous session.

Crompton Greaves Consumer Electricals Ltd. traded 0.34 per cent down at Rs 301.05 on Thursday at around 11:57AM (IST), while the benchmark BSE Sensex advanced 458.16 points to 65684.2. As many as 7,574 shares changed hands on the counter with a total value of Rs 0.23 crore.

Crossmark CIO Bob Doll joins ‘Mornings with Maria’ to discuss a number of investment topics including slowing Treasury yields and the Federal Reserve's inflation fight.

By Brigid Riley

On the BSE, Square Four Project(down 9.38 per cent), Anjani Finance(down 9.24 per cent), Alkosign Ltd.(down 8.05 per cent), Baid Leasing(down 6.83 per cent) and Naturo Indiabull(down 6.23 per cent) were among the stocks that plunged over 5 per cent during the session. In the Nifty pack, 37 stocks traded in the green, while 13 stocks traded in the red.

Bharat Forge Ltd. gained 1.01 per cent to Rs 1070.75 at 11:21AM (IST) in Thursday's trade. The scrip has hit a high of Rs 1076.4 and low of Rs 1063.3 so far during the session.

Domestic benchmark index NSE Nifty gained 138.05 points to 19574.15, while the BSE Sensex traded 513.45 points up at 65739.49. On the other hand, SoftTech Engineers, Murudeshwar Cera, Goodluck India, Utkarsh Small Financ and RKEC Projects stocks hit their fresh 52-week highs today.

Trent Ltd. gained 1.33 per cent to Rs 2049.2 at 11:16AM (IST) in Thursday's trade. The stock has hit a high of Rs 2062.75 and low of Rs 2031.7 so far during the session.

United Spirits Ltd. traded at Rs 998.85 on BSE at 10:50AM (IST) on Thursday, up 1.32 per cent from previous close. The stock quoted a 52-week low price of Rs 730.9 and a high of Rs 1073.2.

Avenue Supermarts Ltd. gained 1.16 per cent to Rs 3916.1 in Thursday's session as of 10:45AM (IST) even as the equity benchmark Sensex traded 230.53 points higher at 65456.57. Earlier in the day, the stock witnessed a gap up start to the session.

DLF Ltd. gained 0.38 per cent to Rs 528.05 at 10:55AM (IST) in Thursday's trade. The scrip hit a high of Rs 532.65 and low of Rs 523.2 so far during the session.

₹80.70 against the previous close of ₹79.75 and touched the intraday high and low of ₹81.05 and ₹77.20 on NSE in trade so far. Around 10:25 am, PNB share price traded 3.07 per cent lower at ₹77.30 on NSE. PNB share price has clocked a robust gain in the last one year, strongly outperforming the Nifty PSU Bank index, Nifty Bank index and the benchmark Nifty 50.

₹546.40 apiece on the BSE. Marico said that during the second quarter of FY24, domestic volumes grew in low-single digits on a year-on-year basis, with low single digit volume growth in Parachute Coconut Oil and Saffola Edible Oils, and low single-digit value growth in Value Added Hair Oils.

Indian Hotels Company Ltd. gained 2.18 per cent to Rs 415.75 in Thursday's trade as of 10:05AM (IST). It hit a high of Rs 416.8 and low of Rs 408.05 during the session.

Benchmark NSE Nifty index rose 98.05 points to 19534.15 amid buying in frontline bluechip stocks. However, stocks such as Navin Fluorine, Shree Ram Proteins, Winsome Yarns, McNally Bharat and The Grob Tea Company, touched their fresh 52-week low.

Zomato Ltd. gained 3.17 per cent to Rs 103.95 in Thursday's trade. It hit a high of Rs 105.2 and low of Rs 102.4 during the session.

Sensex traded 350.75 points higher at 65576.79. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 775.0 and a 52-week low of Rs 557.15 on NSE.