Trade Financial News

Wipro Ltd.(up 0.68 per cent), HCL Technologies Ltd.(up 0.52 per cent), L&T Technology Services Ltd.(up 0.41 per cent) and Persistent Systems Ltd.(up 0.1 per cent) were among the top gainers.

Indian Oil Corporation Ltd. rose 0.98 per cent to Rs 169.5 at 10:25AM 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 331,071 shares with a turnover of Rs 5.64 crore till 10:25AM (IST). The stock traded at a price-to-earnings (P/E) multiple of 7.78, while the price-to-book value ratio stood at 1.26.

Mahindra Lifespace Developers Ltd.(up 1.33 per cent), Godrej Properties Ltd.(up 1.06 per cent), DLF Ltd.(up 0.3 per cent) and Phoenix Mills Ltd.(up 0.2 per cent) were among the top gainers.

REC Ltd. gained 0.84 per cent to Rs 552.1 at 10:29AM (IST) in Wednesday's trade. The scrip has hit a high of Rs 555.35 and low of Rs 545.85 so far during the session. The stock had closed at Rs 547.45 in the previous session. The counter has had a total traded volume of 109189 shares so far with a value of Rs 6.03 crore on the NSE. It traded at a price-to-earnings multiple of 9.93 and a price-to-book ratio of 1.73.

Dipan Mehta, Director, Elixir Equities, says Hyundai compares very well with Maruti. It may trade at a slight premium to Maruti also because of its product profile and the kind of distribution expansion opportunity which is there for the company and its superior EV strategy as well. If you are a long-term investor with a two, three, five-year view and prefer consumer-oriented stocks, then Hyundai fits that criteria. But, it is for the long haul and one should not expect a quick buck on listing. What are your thoughts on the Hyundai IPO? There was a steady response on day one. But it lacks that zing or that X factor that makes investors excited when it comes to the prospects on listing. Do you concur? Dipan Mehta: That is a good IPO to apply for and that’s how we are advising and a disclosure, we ourselves will be applying in the IPO. But you should not expect an amazing listing like what we have seen with other IPOs. It may be a more tepid listing because of its size and because of the sentiment in the auto industry as well. Even post-listing, you may have a situation where two-three quarters may be quite weak because we are seeing a transient slowdown in the auto sales and that may impact the profitability of all auto companies, Hyundai included.

Bombay Stock Exchange (BSE) fell by 6% to their day’s low of Rs 4,471 on NSE after the global brokerage firm Jefferies downgraded the stock’s rating to ‘underperform’ from an earlier ‘hold’ rating. However, despite a downgrade in the rating, the global brokerage firm has hiked the target price to Rs 3,500 from Rs 2,850 previously.

HDFC Asset Management Company Ltd. gained 3.43 per cent to Rs 4705.0 at 10:04AM (IST) in Wednesday's trade. The scrip has hit a high of Rs 4783.75 and low of Rs 4563.05 so far during the session. The stock had closed at Rs 4548.65 in the previous session. The counter has had a total traded volume of 26118 shares so far with a value of Rs 12.36 crore on the NSE. It traded at a price-to-earnings multiple of 48.61 and a price-to-book ratio of 11.32.

Voltas Ltd. gained 3.43 per cent to Rs 1876.0 in Wednesday's trade as of 09:59AM (IST). It hit a high of Rs 1878.55 and low of Rs 1827.35 during the session. The stock quoted a 52-week high price of Rs 1946.2 and a low of Rs 806.9. The return on equity for the stock stood at 4.32 per cent. About 21,469 shares have changed hands on the counter so far.

private banks due to higher fees and lower provisions sequentially. The subdued numbers for the lenders will be driven by muted net interest income (NII) due to slowdown in loan growth. However, asset-quality metrics should be less worrisome, barring lenders exposed to the microfinance sector, analysts said.

The largest retail trade group in the United States says it expects consumers to spend more during the upcoming holiday season but the growth in sales to be slower than last year due to concerns over persistent inflation and prices

U.S. stocks pulled back from their records as the price of crude oil tumbled again and technology stocks faltered

Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

Bajaj Auto, Cochin Shipyard, LTTS, Central Bank of India, Rallis India among others will be in focus due to various news developments and second quarter results. Bajaj Auto, LTTS Shares of Bajaj Auto and LTTS will be in focus as the companies will announce their second quarter results today.

Reliance «This market movement aligns with expectations, and we recommend maintaining a cautious stance until Nifty decisively surpasses the 25,300 level. However, select sectors and themes are still presenting buying opportunities, so traders should focus on stock selection and adopt a balanced approach,» said Ajit Mishra – SVP, Research, Religare Broking.

Equity benchmarks in Sydney, Tokyo and Seoul all fell, while contracts pointed to declines in Hong Kong. S&P 500 futures were little changed after the benchmark slid 0.8% on Tuesday. Treasuries were steady while oil clawed back some gains in early trading after plunging Tuesday.

Adani Green Energy, India's largest private sector renewable power company, late on Tuesday called off its $1.2 billion bond issue after investors demanded a higher yield than what the company was ready to offer, citing geopolitical uncertainties, people aware of the details said. «There was a lot of to and fro between the company and investors on the pricing of the issue. Investors were demanding better yields and the company was not willing to budge. Finally, the company decided to call off the issue and wait for a better time when geopolitical uncertainties subside and the US presidential election is done,» said a person familiar with the development.

Sebi) has raised the position limit — restrictions put in place on the maximum holdings — for trading members in the equity derivatives segment. The overall position limits for client and proprietary trades, in index futures and options contracts will be set at ₹7,500 crore or 15% of the total open interest or outstanding positions in the market, Sebi said in a circular on Tuesday. This would come into effect immediately.

Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...

Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...

Sam is a financial journalist with a focus on cryptocurrency market news, based in London. With a Master’s Degree in Development Management from the London School of Economics, Sam’s passion for...

Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...