Trade Financial News

HDFC Asset Management Company Ltd. 0.08 per cent to Rs 4424.95 at 12:32PM hours (IST) on Wednesday. Earlier in the day, the stock saw a gap up start to the session. As per data available on BSE, total traded quantity on the counter stood at 4,127 shares with a turnover of Rs 1.81 crore till 12:32PM (IST). The stock traded at a price-to-earnings (P/E) multiple of 42.73, while the price-to-book value ratio stood at 11.32.

Vedanta Ltd. traded 0.12 per cent in Wednesday's session at 12:22PM (IST). The stock opened at Rs 471.00 and has touched an intraday high and low of Rs 474.35 and Rs 468.90, respectively, during the session so far. The stock quoted a 52-week high of Rs 523.60 and a 52-week low of 214.50. About 117,996 shares changed hands on the counter so far.

«Now, with that kind of a constraint, if you still want to see a boom in the economy, then the maximum multiplier effect you can generate is through the real estate. So, the boom has started at the top, but now it will percolate down as well,» says Ravi Dharamshi, ValueQuest Investment. You talked about as to how it is not just the premium end of the economy when it comes to consumption, but a more broad based, top to bottom kind of approach that you would now be looking at. How does that tie in with real estate because up until now you have only seen the premium end of luxury, that to residential and commercial both, real estate do well. Ravi Dharamshi: So, see post COVID, unfortunately the recovery has been as it is popular now, K-shaped and what that meant is that anybody who owned an asset has done well, whether you owned equity, whether you owned gold or whether you owned real estate, you did well. But if you have been only a wage earner, income earner, then inflation has been beating your growth in your earnings and your discretionary power has gone down.

Elcid Investments has gone down in the annals of Dalal Street as a rare exception, with a mind-boggling 66,92,535% jump in share prices, leaving both old and young investors dumbfounded. The little-known stock, which was traded only once in 2024, saw just 500 shares change hands at Rs 3.53 apiece on June 21. On Tuesday, its share price suddenly jumped to Rs 2,36,250, with a small trading volume of 241 shares.

Adani Power Ltd. traded 0.56 per cent at Rs 595.15 at 10:30AM (IST) on Wednesday, even as BSE benchmark Sensex 244.17 points to 80124.86. The stock had closed at Rs 591.80 in the previous session. The stock quoted a 52-week high price of Rs 896.75 and 52-week low of Rs 345.20, respectively. As per BSE data, total traded volume on the counter till 10:30AM (IST) stood at 64300 shares with a turnover of Rs 3.81 crore.

Cummins India Ltd. 1.29 per cent to Rs 3517.60 at 10:35AM (IST) in Wednesday's trade. The stock hit a high of Rs 3524.95 and low of Rs 3454.20 so far during the session. The stock had closed at Rs 3472.60 in the previous session. The counter had a total traded volume of 10:35AM shares so far with a turnover of Rs 0.97 crore on BSE. The stock traded at a price-to-earnings multiple of 53.27 and a price-to-book ratio of 12.61.

Khaitan Chemicals & Fertilizers Ltd.(up 4.53%), National Fertilizers Ltd.(up 4.37%), Chambal Fertilisers & Chemicals Ltd.(up 4.22%), Madras Fertilizers Ltd.(up 4.02%), Nagarjuna Fertilizers and Chemicals Ltd.(up 3.74%), The Fertilisers and Chemicals Travancore Ltd.(up 3.57%), Paradeep Phosphates Ltd.(up 3.52%), Rashtriya Chemicals & Fertilizers Ltd.(up 3.26%), Gujarat State Fertilizer & Chemicals Ltd.(up 2.85%) and Rama Phosphates Ltd.(up 2.84%) were among the top gainers.

real estate developers Shriram Properties today zoomed 6.8% to their intraday high of Rs 111.4 on the BSE after signing a joint development agreement for a 6-acres prime land in Pune. “Shriram Properties Limited (“SPL”), one of the leading residential real estate developers in South India, has signed a Joint Development Agreement for a 6-acres prime land, nestled in the upcoming micro markets of Undri in Pune,” said the company in a filing to the exchanges.

buy call on Sun Pharma with a target price of Rs 2,280. The current market price of Sun Pharma is Rs 1869.85 .Sun Pharmaceutical Industries, incorporated in 1993, is a Large Cap company with a market cap of Rs 450271.20 crore, operating in pharmaceuticals sector. Sun Pharmaceutical Industries' key products/revenue segments include pharmaceuticals and other operating revenue for the year ending 31-Mar-2024.

Marico, while JP Morgan has retained its neutral view on CONCOR. Meanwhile, UBS has buy ratings on both Maruti and Cipla. We have collated a list of recommendations from top brokerage firms from ET Now and other sources:

Adani Enterprises shares are in focus on Wednesday after the firm reported a 664% year-on-year (YoY) jump in its consolidated net profit for the September quarter, reaching Rs 1,742 crore, compared to Rs 228 crore reported in the same period last year. The company's revenue from operations stood at Rs 22,608 crore in the reported quarter, which represents a 16% increase compared to Rs 19,546 crore in the corresponding quarter of the previous financial year.

Sensex and Nifty50, opened in the red on Wednesday, dragged down by banking and financial stocks amid persistent foreign selling and weak corporate earnings. The BSE Sensex was trading 331 points, or 0.41%, lower at 80,042. The Nifty50 was down 111 points, or 0.46%, trading at 24,355 around 9:17 am.

Subscribe to enjoy similar stories. Iran’s “axis of resistance" has suffered a series of blows delivered by Israel over the past month, including operations targeting the leadership of Hamas in Gaza and Hezbollah, and a strike last week on Iran’s missile-making facilities used, in part, to supply the groups. That hasn’t stopped Yemen’s Houthis from targeting more ships this week in the Red Sea with drones and missiles, the latest demonstration of how an escalating regional war appears to be boosting a once minor Iran-backed player in the region.

Swiggy announced the price band for its upcoming Rs 11,327.43 crore IPO as Rs 371-390 apiece. The issue comprises a fresh issue of shares amounting to Rs 4,499 crore with an offer for sale (OFS) for 17,50,87,963 equity shares. At the upper end of the price band, the OFS component stands worth Rs 6,828.43 crore.

Energy transition, Select Financials and broader domestic consumption themes,” says Rakesh Parekh, MD & Co-head, Portfolio Management Services, JM Financial Ltd. In an interview with ETMarkets, Parekh said: “We are also very positive on the Healthcare & Pharma space, especially high quality CDMO & Speciality API Mfg companies” Edited excerpts:

Cipla's shares will be in focus during Wednesday's trading after the company posted a 15% growth in its consolidated net profit, reaching Rs 1,303 crore for the quarter ended September 2024, compared to Rs 1,131 crore in the year-ago period. The profit exceeded the ET Now poll estimates of Rs 1,218 crore. Revenue from operations rose 6% year-on-year (YoY) to Rs 7,051 crore in the July-September 2024 period, compared to Rs 6,678 crore in the same period last year. The company reported an EBITDA growth of 12% YoY, reaching Rs 1,886 crore in the second quarter.

The Nifty future closed positive with gains of 0.50% at 24,470 levels on Tuesday.

Axis Securities has a buy call on Bank of Baroda with a target price of Rs 310. The current market price of Bank of Baroda is Rs 248.2. Bank of Baroda, incorporated in 1911, is a banking company with a market cap of Rs 1,28,565.24 crore. Bank of Baroda's key products/revenue segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2024.

Stating that financials as a sector and banks specifically offer better risk reward opportunity, Chandraprakash Padiyar, Senior Fund Manager, Tata Asset Management, says given the positive regulatory environment for banks in terms of early warning, asset quality will remain strong over cycle enabling higher growth in credit and ROE, leading to better valuations. «We see ingredients in place for a positive next few years for the market with the largecap segment doing better than midcap and smallcaps,» he says. Edited excerpts from a chat:

Subscribe to enjoy similar stories. MUMBAI : Diwali is one of India's most significant festivals, marked by various spiritual and religious rites. A key tradition is Muhurat trading, where traders and investors perform Laxmi Puja for prosperity and strategically accumulate valuable stocks to diversify their portfolios.

Nippon Life India Asset Management, including CEO Sundeep Sikka, head of fixed income Amit Tripathi, and Milind Nesarikar, have applied for a settlement with market regulator Securities and Exchange Board of India (Sebi) in the ongoing Yes Bank AT1 bond case, in order to avoid formal proceedings, according to sources familiar with the matter. A legal expert said that if Sebi accepts the settlement, formal proceedings may not be pursued further.