Trade Financial News

Federal Bank Ltd. traded at Rs 193.45 on BSE at 11:50AM (IST) on Friday, down 0.05 per cent from previous close. The stock quoted a 52-week low price of Rs 137.3 and a high of Rs 206.55.

Marico Ltd. gained 0.43 per cent to Rs 668.85 in Friday's trade as of 11:46AM (IST). It hit a high of Rs 672.45 and low of Rs 655.0 during the session. The stock quoted a 52-week high price of Rs 719.8 and a low of Rs 486.75. The return on equity for the stock stood at 38.64 per cent. About 5,636 shares have changed hands on the counter so far.

BSE) and Adani Energy among 6 stocks are likely to be included in the MSCI India Standard Index as part of its rebalancing, according to a report by domestic brokerage firm JM Financial. Based on the prevailing prices, JM Financial expects BSE, Voltas, Adani Energy Solutions, Alkem Laboratories, Oberoi Realty and Kalyan Jewellers to be included in the index.

Srini Pallia, CEO, Aparna Iyer, CFO and Saurabh Govil, CHRO, Wipro in conversation with ET Now. CFO Iyer says that their guidance is based on the visibility that they have at the start of the quarter. The guidance is impacted by furloughs, fewer working days and softness in Europe. The large deals that we won also would take some time to ramp up. So, overall, the momentum seems good. Q3 is more about seasonality and hopefully they will bounce back in Q4. CEO Srini Pillai further says net-net, right now the BFSI segment is positive. He cannot predict what is going to happen in six months and six quarters from now, but as of now, they are seeing good momentum in that sector. What would you call the highlight for the second quarter and how would you rate the current demand environment? Srini Pallia: First, specifically in Q2, three of our four markets have sequentially grown, which is good news. In terms of sectors, we had two of them growing sequentially, two of them growing year on year, and of course we had manufacturing and energy and utilities which have sequentially de-grown. But in the context of the overall market, I see momentum picking up, especially in Americas for us, both Americas 1 and Americas 2, and also APMEA.

Pidilite Industries Ltd. rose 3.46 per cent to Rs 3264.0 in Friday's trade as of 10:00AM (IST) even as the benchmark Nifty ruled at 24645.8, down 104.05 points. The scrip had closed at Rs 3154.75 in the previous session. The stock quoted a 52-week low of Rs 2293.1 and a high of Rs 3414.4. The company quoted a market-cap of Rs 165909.73 crore on the BSE.

Varun Beverages Ltd. gained 1.5 per cent to Rs 596.65 in Friday's trade as of 10:05AM (IST). It hit a high of Rs 597.6 and low of Rs 579.0 during the session. The stock quoted a 52-week high price of Rs 682.84 and a low of Rs 331.28. The return on equity for the stock stood at 29.64 per cent. About 58,985 shares have changed hands on the counter so far.

Bannari Amman Sugars Ltd.(up 1.24%), Simbhaoli Sugars Ltd.(up 0.05%) and Ugar Sugar Works Ltd.(up 0.03%) were among the top gainers.

Domestic benchmark index NSE Nifty fell 102.9 points to 24646.95, while the BSE Sensex traded 408.4 points down at 80598.21.

buy call on Infosys with a target price of Rs 2,200. The current market price of Infosys Ltd. is Rs 1912.7. Infosys., incorporated in 1981, is a largecap company with a market cap of Rs 817184.02 crore, operating in IT Software sector. Infosys Ltd. key products/revenue segments include software products and software development charges for the year ending 31-Mar-2024.

"Tech Mahindra, Infosys all are up 40% in last six to eight months. So, large part of all positive news has been discounted and the stocks are trading at a very-very decent valuation I would put in that way," says Sandip Agarwal, Fund Manager, Sowilo Investment Managers. From these Q2 earnings from the likes of Infosys, Wipro, TCS and HCL Tech reporting numbers, how do you see this possibility of a gradual recovery? Is that going to take some more time you think, there is some softness before it actually comes through or is it really here? Sandip Agarwal: So, yes, I think it has been quite well summed up but let me put this into a perspective. See, you have to remember that barring Wipro, the best part of the year is gone by now because third and fourth quarter have their seasonal challenges. So, this year is gone from the perspective of sequential revenue growth or some positive surprise. Year over year growth could be better. So, everything is now FY26. So, from that perspective and I have been reiterating this in every discussion we had earlier also that things will improve in terms of revenue growth and margins substantially from here on, but also remember that market is very forward-looking and they have all these IT stocks, if you see in last six months they have given phenomenal returns. Tech Mahindra, Infosys all are up 40% in last six to eight months. So, large part of all positive news has been discounted and the stocks are trading at a very-very decent valuation I would put in that way.

Sensex and Nifty50 opened lower for the fourth consecutive session on Friday, weighed down by auto, banking and IT stocks, amid foreign fund outflows and disappointing results from marquee companies. The BSE Sensex was trading 580 points, or 0.72%, lower at 80,427. The Nifty50 was down 172 points, or 0.7%, trading at 24,577 around 9:30 am.

Indian market is likely to trade lower on Friday tracking muted global cues. The Nifty future closed negative with losses of 0.81% at 24,845 levels on Thursday. INDIA VIX surged by 2.56%, settling at 13.39, indicating a jump in market volatility.

IT services company LTIMindtree shares are in focus on Friday after the firm reported 8% year-on-year (YoY) growth in its consolidated net profit at Rs 1,251 crore in the quarter ended September 2024. Revenue from operations in the reporting period rose 6% year-on-year to Rs 9,433 crore. In dollar terms, revenues for the quarter stood at $1.1 billion, showing a growth of 5% year-on-year and 3% quarter-on-quarter.

Manappuram Finance are likely to remain in focus after the Reserve Bank of India (RBI) imposed restrictions on four NBFCs (including Manappuram) citing material supervisory concerns, following which, the stock earned multiple rating downgrades or target price cuts from various brokerage firms. The Central Bank on October 17 announced this regulatory action against four NBFCs and NBFC-Micro Finance Institutions (NBFC-MFIs), citing material supervisory concerns. The RBI directed these entities to cease and desist from sanctioning and disbursing loans until further notice.

Axis Bank shares are in focus today after the private lender reported an 18% increase in standalone net profit, reaching Rs 6,918 crore, compared to Rs 5,864 crore in the same quarter of the previous financial year. The bank’s Net Interest Income (NII) grew 9% year-on-year (YoY) to Rs 13,483 crore, while its Net Interest Margin (NIM) for Q2 FY25 stood at 3.99%.

Netflix says its subscriber growth slowed dramatically during the summer, a sign that the huge gains from the video-streaming service’s crackdown on freeloading viewers is tapering off

Rajesh Cheruvu – MD and CIO, LGT Wealth India. In an interview with ETMarkets, Cheruvu said: “From a taxation standpoint, both physical and digital gold are treated similarly, with capital gains taxes applied if the asset is held for more than three years,” Edited excerpts:

NSE500 stocks closing in the red. The IT sector was the only exception, as the selling was widespread across other sectors. The Nifty50 index declined by around 0.90%, ending just above the critical swing low of 24,694 established on October 7th.

Axis Bank, while Morgan Stanley has downgraded Manapurram Finance to equal-weight. Jefferies has maintained a hold call on Havells and Macquarie has an outperform rating on Wipro.

Godavari Biorefineries has announced a price band of Rs 334-352 per share for its Rs 555-crore initial public offering (IPO), set to open for subscription on October 23. The IPO will close on October 25, with anchor bidding beginning on October 22. The allotment will be finalised on October 28, and refunds and share credits will take place on October 29, followed by the stock listing on October 30.

Nvidia hit a record high amid a rally in U.S. chip stocks on Thursday after industry bellwether TSMC's strong sales forecast boosted investor optimism about demand for processors used to power artificial intelligence applications. Taiwan Semiconductor Manufacturing Co, the world's largest contract chipmaker, raised its expectation for annual revenue growth and said sales from AI chips would account for mid-teen percentage of its full-year revenue. US-listed TSMC shares rose more than 11%, lifting the company's market capitalization above $1 trillion.