Trade Financial News

Shares of Reliance Industries (RIL) tumbled 2.3% in Monday’s trading session to Rs 2,681.25 on the BSE after six brokerages reduced the target price of the stock to as low as Rs 2,990 after weak Q2 results posted by the company. RIL on Monday reported a 5% decline in its consolidated net profit to Rs 16,563 crore for the quarter ended September 2024. The same stood at Rs 17,394 crore in the year-ago period.

Subscribe to enjoy similar stories. MUMBAI : HCL Technologies Ltd stock hit a new 52-week high of ₹1,882.75 on Tuesday in response to the decent September quarter (Q2FY25) earnings. Sequential constant currency (CC) revenue grew 1.6% ahead of Street’s 0.6% estimate.

The Dutch government on Tuesday said it will reduce its stake in lender ABN Amro by a quarter to 30% through a trading plan.

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Marico Ltd. traded 0.47 per cent down at Rs 685.75 at 01:17PM (IST) on Tuesday, even as BSE benchmark Sensex dropped 256.91 points to 81716.14. The stock had settled at Rs 689.0 in the previous session. The stock quoted a 52-week high price of Rs 719.8 and 52-week low of Rs 486.75, respectively. As per BSE data, total traded volume on the counter till 01:17PM (IST) stood at 4462 shares with a turnover of Rs 0.31 crore.

IPO has opened for subscription, but investors might have to brace for losses on debut, going by the grey market trends. The GMP is on a continuous slide and is currently trading at just 1.6% premium over the issue price. It would not surprise anyone if the GMP falls to negative before the listing, given the sharp fall over the past few days.

Cholamandalam Investment & Finance Company Ltd. fell 0.9 per cent to Rs 1499.65 in Tuesday's session as of 01:23PM (IST) even as the equity benchmark Sensex traded 255.2 points lower at 81717.85. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 1650.0 and a 52-week low of Rs 1011.5 on NSE. Around 9624 shares changed hands on the counter till 01:23PM (IST).

PI Industries Ltd. traded 0.63 per cent up at Rs 4536.95 at around 01:28PM (IST) on Tuesday. The stock had closed at Rs 4565.75 in the previous session. Equity benchmark Sensex traded 255.2 points lower at 81717.85 around the same time.

RBI policy might have surprised the market with its dovish tone and stance change to neutral, but the change in RBI policy was already visible in its liquidity management. Indeed, since July 2024, interbank liquidity surplus has averaged ~INR1.2tn (0.5% of NDTL or deposits). The last time similar levels of surplus liquidity were seen was in June to August last year and the RBI responded by imposing incremental ICRR of 10%. In contrast during the current phase of liquidity surplus, RBI has refrained from any strong liquidity absorbing measures. Persisting with VRRRs and VRRs to keep the weighted average call rate near the repo rate. The TREPS rate where maximum volume of transactions take place, has been averaging below the repo rate over the last few months.

«So, whether the fiscal incentive comes or not, that will determine quite a few things. And of course, if exports were to revive, then it can become a much better trade. But these two has not happened yet and in the absence of these two, China remains more of a tactical trade,» says Rana Gupta, Manulife Investment Management. All of us in the last 15 days have spent a considerable time in understanding this China comeback and sell India trade. Is that a real trade? Do you think that is a multi-year trade or that trade is already over? Rana Gupta: Well, it depends on whether the Chinese policymakers go down the path of a large fiscal stimulus or not. In our view, China was export oriented economy, which got its savings and invested in real estate.

Bharat Forge Ltd. rose 0.09 per cent to Rs 1492.35 in Tuesday's trade as of 12:27PM (IST) even as the benchmark Nifty ruled at 25066.45, down 61.5 points. The scrip had closed at Rs 1490.95 in the previous session. The stock quoted a 52-week low of Rs 1002.7 and a high of Rs 1826.2. The company quoted a market-cap of Rs 69540.32 crore on the BSE.

SRF Ltd. slipped 0.09 per cent to Rs 2339.2 in Tuesday's trade as of 11:41AM (IST). It hit a high of Rs 2355.1 and low of Rs 2338.65 during the session. The stock quoted a 52-week high price of Rs 2697.45 and a low of Rs 2081.25. The return on equity for the stock stood at 11.63 per cent. About 1,385 shares have changed hands on the counter so far.

Indian Hotels Company Ltd. gained 0.58 per cent to Rs 709.0 at 11:51AM (IST) in Tuesday's trade. The scrip has hit a high of Rs 712.3 and low of Rs 702.9 so far during the session. The stock had closed at Rs 704.9 in the previous session. The counter has had a total traded volume of 15810 shares so far with a value of Rs 1.11 crore on the NSE. It traded at a price-to-earnings multiple of 78.39 and a price-to-book ratio of 8.9.

Max Healthcare Institute Ltd. gained 1.78 per cent to Rs 964.4 in Tuesday's trade. It hit a high of Rs 966.4 and low of Rs 945.8 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 843.68, while the 50-DMA was at Rs 916.23. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Avenue Supermarts Ltd. traded 0.31 per cent up at Rs 4197.6 at around 11:46AM (IST) on Tuesday. The stock had closed at Rs 4184.45 in the previous session. Equity benchmark Sensex traded 242.17 points lower at 81730.88 around the same time.

This order includes the engineering procurement (EP) scope, covering design, engineering, supply, installation, testing, and commissioning of the 100 MLD desalination plant.

InterGlobe Aviation Ltd. rose 1.71 per cent to Rs 4757.6 in Tuesday's trade as of 10:44AM (IST) even as the benchmark Nifty ruled at 25092.05, down 35.91 points. The scrip had closed at Rs 4677.5 in the previous session. The stock quoted a 52-week low of Rs 2389.35 and a high of Rs 5033.2. The company quoted a market-cap of Rs 183435.45 crore on the BSE.

Globe Civil Projects Ltd on Tuesday said it has filed preliminary papers with markets regulator Sebi to raise funds through an initial public offering. The initial public offering (IPO) is entirely a fresh issue of 1.9 crore equity shares with no offer-for-sale component, according to the DRHP filed with Sebi. The company plans to list the shares on BSE and NSE.

rupee witnessed range-bound trade and depreciated 2 paise to 84.07 against the US dollar in initial deals on Tuesday, weighed down by significant foreign fund outflows, elevated crude oil prices and the strength of the American currency in the overseas market. Forex traders said the rupee is trading in a narrow range as the support from positive domestic equities is being negated by foreign fund outflows. Moreover, crude oil prices have also surged by 10 per cent, ballooning India's already worrisome trade deficit. At the interbank foreign exchange, the rupee opened at 84.06 against the greenback and traded in a tight range. In the initial trade, it touched 84.07, registering a fall of 7 paise over its previous close.

oil marketing companies (OMCs) Hindustan Petroleum (HPCL), Bharat Petroleum (BPCL), and Indian Oil Corporation (IOC) on Tuesday jumped up to 5% on the BSE as Brent crude prices fell to $75 per barrel, falling 3% today. Shares of HPCL gained 5% to their day’s high of Rs 426.30 while BPCL shares went up 3.3% to Rs 351.45. Meanwhile, the shares of IOC jumped 2.5% to Rs 169.60.

Lexus Granito(India)Ltd.(up 2.64%), 20 Microns Ltd.(up 0.51%), The Orissa Minerals Development Company Ltd.(up 0.44%) and Aro Granite Industries Ltd.(up 0.08%) were among the top gainers.