Trade Financial News

Jubilant Foodworks Ltd. slipped 1.25 per cent to Rs 519.95 in Wednesday's trade as of 01:44PM (IST). The stock hit a high price of Rs 525.7 and low of Rs 517.5 during the session.

stocks witnessed a build of fresh short positions. Lets first understand how this conclusion is reached that whether the stock has seen a buildup of fresh short position or not.

Cholamandalam Investment & Finance Company Ltd. fell 1.51 per cent to Rs 1212.0 at 12:53PM hours (IST) on Wednesday. Earlier in the day, the stock saw a gap down start to the session.

Zee Entertainment bounced back strongly in today's intraday trade by gaining 4.48%, reaching ₹267.80 apiece, following a 7.64% drop in the previous trading session. The sharp uptick in shares today is attributed to the company's clarification regarding media reports suggesting a potential cancellation of the planned merger between Zee Entertainment and Sony Group.

Manappuram Finance plunged 7.4% to Rs 163.4 in Wednesday's trade on BSE after the market regulator Securities and Exchange Board of India (SEBI) put the IPO of its arm Asirvad Microfinance on hold. The delay in the IPO represents a blow to Manappuram Finance, which had raised its stake in Ashirwad Microfinance in June 2022, acquiring a majority stake as part of its broader diversification strategy. Asirvad Microfinance had filed a draft red herring prospectus (DRHP) with SEBI to raise Rs 1,500 crore from the public back in October last year. At 11.22 am, the scrip was trading 4.9% lower at Rs 167.9 on BSE. However, in the last year, the stock has surged nearly 40%. In Q2 FY24, Manappuram Finance reported a 37% increase in consolidated net profit to Rs 561 crore.

HCL Technologies rose over 3% to Rs 1,507.2 in Wednesday trade on BSE ahead of its third-quarter results due on Friday, January 12. Meanwhile, a total of 25,75,833 equity shares worth Rs 383.6 crore also changed hands in Wednesday's trade. At 12:05 pm, the scrip was trading 2% higher at Rs 1,490 on BSE. The stock has also surged 33% in the past six months, while it has rallied 40% in the last year. In Q2 FY24, HCL Technologies reported 10% growth in its consolidated net profit at Rs 3,832 crore. The same stood at Rs 3,489 crore in the last year period. Its revenue from operations during the period rose 8% to Rs 26,672 crore against Rs 24,686 crore in the same period last year. In Q2, in constant currency terms, revenue was up 1% sequentially and 3% year-on-year (YoY). Segment-wise, services revenue rose 3% (CC), while digital revenue was up 4%. Here's what brokerages expect from HCL Technologies' Q3 results:

EU norms as the European Union is moving towards a paperless customs process from June 3 this year. The development assumes significance for domestic exporters as the European Union (EU) accounts for about 17 per cent of India's total merchandise exports. In 2022-23, India exported goods worth USD 75 billion to EU as against the country's total exports of USD 451 billion in that financial year.

The Hindu has stated that despite the strike, the state Transport Department has said that normal bus services are being run in Chennai city and across the State. Citing a senior official, the report further said that since today morning, the Metropolitan Transport Corporation (MTC) in Chennai operated 3,177 buses which is slightly below its usual 3,233 buses.

DLF Ltd. traded 1.07 per cent up at Rs 780.95 at around 12:58PM (IST) on Wednesday. The stock had closed at Rs 789.4 in the previous session.

Dipan Mehta, Director, Elixir Equities, says “whenever we find that the performance is not up to our expectations, then we are trimming or exiting those positions and remaining in cash and that really has been my advice amongst the minority who feel that there should be a correction in 2024, all kinds of blue sky scenario notwithstanding. These markets cannot keep on going up like this.” UP has now become the go-to place when it comes to religious tourism. No one would have thought that this kind of a number would be there in terms of footfalls for Banaras and now for Ayodhya. Is that a theme which you are betting on? Dipan Mehta: We are very positive on travel and tourism and I have spoken about Indian Hotels and InterGlobal aviation also and then there is, of course, our favourite, with disclosures, Mahindra Holiday, which I think has performed below its potential. So, first of all, there are very few plays in this particular investment theme, but whatever is there,, has got great long-term prospects. These are great secular trends. You can see them compounding at 15% or thereabout for the next 5-10 years or so.

World Bank’s latest Global Economic Prospects report. “Without a major course correction, the 2020s will go down as a decade of wasted opportunity," said Indermit Gill, the World Bank Group’s Chief Economist and Senior Vice President. “Near-term growth will remain weak, leaving many developing countries—especially the poorest—stuck in a trap: with paralyzing levels of debt and tenuous access to food for nearly one out of every three people.

Pidilite Industries Ltd. dropped 0.06 per cent to Rs 2723.65 at 01:03PM (IST) in Wednesday's trade. The counter hit a high of Rs 2730.5 and low of Rs 2695.55 so far during the session.

I think there’s a lot of room for growth. ONDC and McKinsey have jointly published a report in which we examined the potential for e-commerce in India. According to McKinsey, ONDC will enable a 5-fold rise in India’s digital consumption to $340 billion.

Ambuja Cements Ltd. traded 0.34 per cent down in Wednesday's trade at 12:12PM (IST). Around 72,741 shares changed hands on the counter.

ICICI Lombard General Insurance Company Ltd. traded at Rs 1385.0 on BSE at 12:28PM (IST) on Wednesday, down 0.7 per cent from previous close. The scrip quoted a 52-week low price of Rs 1049.1 and a high of Rs 1491.95.

railway stocks, Nestle's trending status on the internet caught me off guard. On closer look, it turned out the Maggi manufacturer had just implemented a 1:10 stock split, with Friday marking its first ex-split trading day. This development made India's sixth most expensive stock 90% more affordable, attracting investors previously deterred by its lofty price.

₹62,209 per 10 grams. Silver prices also gained 0.08% to trade at 72,105 per kg. International gold prices held steady as investors refused to make big bets awaiting US inflation print that could offer more clarity on when the US Federal Reserve might begin cutting interest rates, Reuters reported.

HCL Technologies Ltd.(up 1.43 per cent), Tata Consultancy Services Ltd.(up 0.65 per cent), L&T Technology Services Ltd.(up 0.41 per cent), Wipro Ltd.(up 0.37 per cent) and Coforge Ltd.(up 0.33 per cent) were among the top gainers. MphasiS Ltd.(down 0.6 per cent), Infosys Ltd.(down 0.38 per cent) and LTIMindtree Ltd.(down 0.17 per cent) were the top losers on the index.

Crompton Greaves Consumer Electricals Ltd. traded 1.43 per cent up at Rs 318.9 on Wednesday at around 10:25AM (IST), while the benchmark BSE Sensex advanced 3.61 points to 71389.82. As many as 61,754 shares changed hands on the counter with a total value of Rs 1.96 crore.

Zuari Agro Chemicals Ltd.(up 2.26%), Gujarat State Fertilizer & Chemicals Ltd.(up 1.83%), Madhya Bharat Agro Products Ltd.(up 1.20%), Paradeep Phosphates Ltd.(up 0.89%), Krishana Phoschem Ltd.(up 0.87%), The Fertilisers and Chemicals Travancore Ltd.(up 0.42%), Agro Phos India Ltd.(up 0.42%), Rama Phosphates Ltd.(up 0.21%) and Khaitan Chemicals & Fertilizers Ltd.(up 0.20%) were among the top gainers. Mangalore Chemicals & Fertilizers Ltd.(down 1.86%), Sikko Industries Ltd.(down 1.34%), Rashtriya Chemicals & Fertilizers Ltd.(down 0.98%), Nagarjuna Fertilizers and Chemicals Ltd.(down 0.72%), Madras Fertilizers Ltd.(down 0.67%), National Fertilizers Ltd.(down 0.54%), Southern Petrochemicals Industries Corporation Ltd.(down 0.48%), Deepak Fertilisers & Petrochemicals Corporation Ltd.(down 0.35%), Coromandel International Ltd.(down 0.29%) and Aries Agro Ltd.(down 0.19%) were among the top losers.

Trent Ltd. traded 2.05 per cent up in Wednesday's trade at 10:30AM (IST). Around 10,205 shares changed hands on the counter.