Trade Financial News

Ashok Leyland Ltd. traded at Rs 217.25 on BSE at 11:15AM (IST) on Tuesday, down 0.25 per cent from previous close. The stock quoted a 52-week low price of Rs 157.65 and a high of Rs 264.7.

Pidilite Industries Ltd. traded 0.39 per cent higher in Tuesday's session at 11:25AM (IST). The stock opened at Rs 3145.6 and has touched an intraday high and low of Rs 3183.4 and Rs 3145.6, respectively, during the session so far. The stock quoted a 52-week high of Rs 3414.4 and a 52-week low of 2293.1. About 1,593 shares changed hands on the counter so far.

HDFC Asset Management Company Ltd. slipped 0.4 per cent to Rs 4584.95 in Tuesday's trade as of 11:20AM (IST). The stock hit a high price of Rs 4646.9 and low of Rs 4544.5 during the session. The return on equity (ROE) for the stock stood at 28.08 per cent. Traded volume on the counter stood at 11:20AM shares and turnover at Rs 2.23 crore around that time. The stock of HDFC Asset Management Company Ltd. quoted a 52-week high price of Rs 4862.0 and 52-week low prices of Rs 2691.2, respectively.

neutral call on Oberoi Realty with a target price of Rs 2,056. The current market price of Oberoi Realty is Rs 1963. Oberoi Realty Ltd., incorporated in 1998, is a largecap company with a market cap of Rs 71869.62 crore, operating in the Real Estate sector. Oberoi Realty's key products/revenue segments include income from project development, lease rentals, income from hospitality and other operating revenue for the year ending 31-Mar-2023.

Hyundai Motor India, which is set to debut on the bourses today, has earned 2 positive ratings from global brokerage firms Nomura and Macquarie as they have initiated coverage on the stock with the target price going as high as Rs 2,472. The stock has earned a buy rating with a target price of Rs 2,472 from Nomura, predicting a 26% upside while Macquarie has an outperform rating on the stock with a target price of Rs 2,235, which indicates a 14% upside potential.

rupee stayed flat at 84.07 against the US dollar in early trade on Tuesday as positive sentiment in domestic equity markets was negated by the unabated outflow of foreign funds. The local unit resisted the fall on the back of the retreating dollar and a downward movement in the crude oil prices, forex traders said. At the interbank foreign exchange, the rupee opened at 84.07 against the greenback and traded on a flat note in early deals.

Stay tuned to know about latest GMP, listing details, expert views, more.According to brokerage Master Capital Services, the Hyundai Motor India IPO, which launched on October 15, 2024, is highly anticipated due to the company’s strong market position in the Indian passenger vehicle segment. On 21st Oct, the company’s shares at pre-listing are trading at a grey market premium of ₹75 which is 3.8% higher than its original price band.

Nomura and Macquarie have initiated coverage on Hyundai Motor India even before its listing, assigning a buy and outperform rating, respectively. Meanwhile, Jefferies has a hold rating on Oberoi, and Bernstein has a market-perform rating on Ultratech Cement. We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

Ambuja Cement on Tuesday announced that it will acquire Orient Cement Ltd (OCL) at an equity value of Rs 8,100 crore. Additionally, the cement giant make an open offer to acquire additional 26% stake. «Within 3-4 months, the Open Offer shall be completed in accordance with the provisions of the SAST (Substantial Acquisition of Shares and Takeovers) Regulations. The Open Offer is being made at Rs 395.40 per equity share, which has been determined in accordance with SAST Regulations,» informed the company through stock exchange filing. Shares of both the involved cement players were trading in the green after the announcement of acquisition deal. Ambuja's shares went up 1.49% at Rs 580 while shares of Orient Cement were trading at Rs 358.25, up 1.65% as of 9:20 am.

LTIMindtree (LTIM) are currently trading at Rs 5,943, reflecting a short-term downtrend after pulling back from higher levels. A bearish double top pattern has formed on the daily chart, and the price has broken below a rising trend line, signaling a potential breakdown and further downside risk.

Sensex and Nifty50 opened marginally higher on Tuesday, amid weak global cues, driven by gains in index heavyweights ICICI Bank, Infosys, and Reliance Industries. The BSE Sensex rose 171 points, or 0.21%, to 81,323, while the Nifty50 gained 45 points, or 0.18%, trading at 24,826 at around 9:19 am.

small cap multibagger stock Grovy India are likely to remain in focus today as the company had fixed October 22 as the record date for the purpose of its 3:1 bonus share issue. “This is to inform you that the Company has fixed Wednesday, 23rd October, 2024 as the Record Date for the purpose of ascertaining the shareholders eligible for allotment of Bonus Shares in the ratio of 3:1, i.e. 3 (Three) Bonus Equity Shares of Re. 10/- each fully paid-up for every 1 (one) existing Equity Share of Re. 10/- each held as on the above mentioned record date,” the company said in a filing to the stock exchanges.

Analysts expect the digital payments major to clock higher revenue growth during the second quarter, but the losses may widen.

Adani Green will be in focus in today's trade as the company will announce its results for the second quarter ended September 2024. While there are no estimates for the quarterly numbers, Adani Green in its pre earnings update said the operational capacity increased by 34% YoY to 11,184 MW during the first half of the year with greenfield addition of 2,418 MW solar and 450 MW wind power plants.

Adani Energy Solutions will be in focus in today's trade as the company will announce its results for the second quarter ended September 2024. While there are no estimates for the second quarter results, Adani Energy Solutions in its recent update said the company maintained a robust system availability of 99.7% for the transmission business.

The Lalit will file fresh documents for its initial public offering (IPO) in the next fiscal year starting April 2025, a top company official told ET. The IPO size may be between ₹1,500 crore and ₹1,800 crore, though the final decision is still some time away and will depend on several factors, including the market situation, said another person aware of the New Delhi-based hotel chain's plans.

Zomato are expected to be in focus on Tuesday when markets resume trading as the food delivery company will announce its Q2FY25 earnings later today. The company is expected to post a whopping 585%-662% year-on-year jump in its September quarter net profit in the range of Rs 247 crore — Rs 274 crore, according to the estimates of a couple of top domestic brokerages.

Narendra Modi on Tuesday departed for his two-day visit to Russia to attend the BRICS Summit in Kazan. The 16th BRICS Summit in Kazan is being held under the chairmanship of Russia from October 22-24. During his visit, PM Modi is also expected to hold bilateral meetings with his counterparts from BRICS member countries and invited leaders in Kazan.

The IPO was booked 2.3 times, with full subscription achieved only on the last day. The valuations are fully priced, and since the issue is a complete offer for sale (OFS), the company will not receive any proceeds from the offer.

Sensex and Nifty closed lower on Monday due to a sharp fall in Kotak Mahindra Bank and relentless foreign fund outflows. Stocks that were in focus include names like Manappuram Finance, which rose 4.55%, Raymond Lifestyles, which gained 2.2%, and 360 One Wam, whose shares jumped 3.3% on Monday.

Federal Reserve will take a measured approach to interest rate cuts, while a close battle in the upcoming U.S. election kept investors on edge. The dollar's strength, boosted by rising Treasury yields, kept the pressure on the yen, euro and sterling — a theme that has been building over the past few weeks as data showed the U.S. economy remained in a good place, resulting in traders scaling back their bets of large and rapid rate cuts from the Fed.