Trade Financial News

Ashok Leyland Ltd. rose 1.61 per cent to Rs 217.65 at 10:20AM hours (IST) on Thursday. 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 160,875 shares with a turnover of Rs 3.48 crore till 10:20AM (IST). The stock traded at a price-to-earnings (P/E) multiple of 26.11, while the price-to-book value ratio stood at 5.58.

ACC Ltd. traded 0.78 per cent up in Thursday's trade at 10:35AM (IST). Around 3,149 shares changed hands on the counter. The stock opened at Rs 2251.1 and touched an intraday high and low of Rs 2293.25 and Rs 2232.0, respectively, in the session so far. The stock of ACC Ltd. quoted a 52-week high of Rs 2843.0 and a 52-week low of Rs 1803.8.

TVS Motor Company fell by 3% to the day’s low of Rs 2,490 on the BSE after the company reported a lower-than-expected quarterly profit, hurt by higher costs, even as demand was stable. The 'Jupiter' scooter maker's profit rose 23.5% to Rs 663 crore in the quarter ended September 2024, which missed analysts' estimate of Rs 697 crore.

Dalal Street since the Covid-led market crash in 2020. Sensex is down about 5% this month (till Wednesday), beating June 2022's record fall of 4.58%. One of the worst market falls in recent years was seen in February and March months of Covid year 2020 when the Sensex lost 6% and 23%, respectively.

rupee stayed flat at 84.07 against the US dollar in early trade on Thursday amid elevated crude oil prices and continuous withdrawal of foreign funds from capital market. However, the local unit found some cushion as the dollar retreated from its higher level while the domestic equity markets indicated a recovery, forex traders said. At the interbank foreign exchange, the rupee opened at 84.06 against the greenback and slipped 1 paisa to trade at previous day's closing level in initial deals.

Hindustan Unilever (HUL) fell by 5% to the day’s low of Rs 2,533 on the BSE after reporting a 4% decline in its standalone net profit for the quarter ended September 2024, which reached Rs 2,612 crore, compared to Rs 2,717 crore posted in the same period last year. HUL reported revenue from operations of Rs 15,319 crore, up 2% from Rs 15,027 crore in the corresponding quarter of the previous financial year.

silver December futures contracts were trading at Rs 97,450/kg, up by 0.51% or Rs 490. On Wednesday, gold and silver settled on a weaker note in the domestic and international markets. Domestic markets were also settled on a weaker note. Gold December futures contract settled at Rs77,812 per 10 grams with a loss of 1.07% and silver December futures contract settled at Rs96,960 per kilogram with a loss of 3.01%.

HDFC Securities has an add call on Mahindra & Mahindra Financial Services (Mahindra Finance) with a target price of Rs 288. The current market price of Mahindra & Mahindra Financial Services is Rs 267.85. The company, incorporated in 1991, is a largecap company with a market cap of Rs 33056.60 crore, operating in NBFC sector. Mahindra & Mahindra Financial Services key products/revenue segments include Interest, Fees & Commission Income, Rental Income, Income From Sale Of Share & Securities for the year ending 31-Mar-2024.

SBI Life's shares will be in focus on Thursday after the company reported a 39% year-on-year (YoY) growth in its consolidated net profit, reaching Rs 529 crore in the second quarter. This compares to Rs 380 crore in the same quarter last year. The net premium income for the reporting period increased by a marginal 1% YoY to Rs 20,266 crore.

Brokerage firms CLSA and Investec have buy ratings on Paytm and TVS Motor respectively. Meanwhile, Macquarie and CLSA have outperform ratings on SBI Life and Sona BLW respectively. Jefferies has a buy call on Godrej Properties.

AU Small Finance Bank shares are in the spotlight on Thursday after the bank reported a 42% year-on-year (YoY) rise in net profit for the September quarter at Rs 571 crore, buoyed by the impact of its acquisition of Fincare Small Finance Bank. Its net profit was Rs 402 crore in the year-ago period. Operating profit jumped 80% YoY at Rs 1,132 crore.

HDFC Securities has an add call on Supreme Industries with a target price of Rs 4,770. The current market price of the stock is Rs 4569.6. Supreme Industries, incorporated in 1942, is a midcap company with a market cap of Rs 58343.44 crore, operating in plastics sector. Supreme Industries's key products/revenue segments include Plastic Products, Polymers (Traded), Other Operating Revenue, Processing Charges and Export Incentives for the year ending 31-Mar-2024.

Indian market is expected to trade higher on Thursday, tracking positive global cues. The Nifty futures closed negative, with losses of 0.21% at 24,487 levels on Wednesday.

Nifty continues to face resistance at the higher levels and it has closed below its previous support of 24,700 for the second consecutive time, indicating weakness in the short term. Until the index is not able to close above 24,700 the overall short-term trend remains negative.

Hindustan Unilever (HUL) are likely to remain in focus on Thursday following a 4% fall in its standalone net profit for the quarter ended September 2024 to Rs 2,612 crore versus Rs 2,717 crore posted in the year-ago period. On Wednesday the FMCG major reported revenue from operations at Rs 15,319 crore, which was up 2% over Rs 15,027 crore reported in the corresponding quarter of the previous financial year.

Adani Group owned ACC Limited are expected to be in focus on Thursday ahead of the company's Q2FY25 earnings announcement. The cement maker could report an year-on-year and sequential loss in its revenue and net profit figures, according to estimates by a couple of brokerages. Sharekhan has estimated ACC’s net sales figures at Rs 4,263 crore, which could go up by 4% on a YoY basis and 17.3% on a QoQ basis. The profit after tax (PAT) is seen to fall by 49% and 46% on a YoY and QoQ basis to Rs 197 crore.

Waaree Energies IPO is likely to be finalised today. Investors will get shares on a lottery basis and the whole process was supervised by the registrar. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made. They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE or even on the registrar's website.

Ben Powell, Chief Investment Strategist for APAC, BlackRock Investment Institute, says we are going to see more and more tie-ups between governments, in terms of legal framework, regulatory permissions, and societal buy-ins. A partnership between governments and private capital is important because many Western countries do not have so much fiscal firepower. Coming to India, Powell says the BRICS meeting is going on in Russia and we have seen Prime Minister Modi embracing President Putin. Modi will also be sitting down with President Xi later today., India seems to be in a amazing position where on the one hand it is a cherished partner of the BRICS with huge positives, obviously energy and other dimensions and on the other hand, India is an absolute cornerstone of US policy, most obviously through Quad. What is the future of finance going to look like and how can investors benefit out of it? Ben Powell: The need to mobilise capital and fund all of the aspirations is the practical reality.

Pulz Electronics are expected to be in focus today, as the record date for its 1:1 bonus issue is tomorrow, October 25, making today the last day to purchase shares for eligibility. This means that the shareholders who have the shares of the company in their demat accounts on the record date, will be credited with an additional share of the company as a bonus.

Gurmeet Chadha, Co-Founder & CEO, Complete Circle Consultants, says wherever there is earning support, one can buy a basket. Complete Circle likes financials and has been dipping into it. Amongst largecaps, they have bought ICICI and added to SBI. In tier II banks, they have added Federal Bank and are also looking at some select NBFCs. They are also adding a few defence names with a 20-30% correction from the peak. Plus, they are adding some auto ancillary stocks, which have been under a lot of pressure. In PSUs, Chadha is gung-ho on PSU banks. SBI trades at book. Bank of Baroda came up with a very good update. In Bank of Baroda, the retail mix is improving. What is your take on the markets at this juncture because it has been a decent sell-off from the high point. Is there any area where you are finding the valuations to be attractive or good opportunities at this price point? Also help us with your take on the PSUs because they have been feeling the heat and do you believe that the PSUs have some headroom for recovery? Gurmeet Chadha: In absolute terms, there is a lot of selling in the market. Nobody really anticipated this kind of selling coming through and in a matter of a few weeks. So, almost $12-$13 billion is gone and the market has still absorbed quite a bit of it.

If you're hanging out, wondering where the growth in investment banking industry revenues went and waiting for it to come back, you might not want to look too long at the new report from consulting firm BCG.