Trade Financial News

Varun Beverages Ltd. traded at Rs 649.9 on BSE at 12:47PM (IST) on Friday, down 0.26 per cent from previous close. The scrip quoted a 52-week low price of Rs 331.28 and a high of Rs 682.84.

«My sense is that things like rate cut by the US Fed will be a trigger for many of the global funds to increase their allocation to emerging markets and clearly, India being one of the best performing emerging markets would draw its share of flows, so that is clearly our base case,» says Mahesh Nandurkar, Jefferies. The general view was that Fed will cut rates and FIIs will come back. Do you see that happening now that Fed has gifted everybody with not 25 but with a 50 bps jumbo rate cut? Do you see liquidity coming back in a hurry and in abundance back to emerging markets like India? Mahesh Nandurkar: Yes, that is our base case that the rate cut undertaken by the Fed will drive incremental moneys into the emerging markets. I mean, you would remember that emerging market as an asset class over the last five years or so has been completely neglected and that is also one of the reasons why we have not seen much of foreign inflows into markets like India, despite being so attractive from growth perspective, etc.

<a rel=«dofollow» href=«https://economictimes.indiatimes.com/divi» s-laboratories-ltd. data-ga-onclick=«Inarticle articleshow link click#Markets#href» target="_blank">Divi's Laboratories Ltd. gained 1.07 per cent to Rs 5493.95 in Friday's trade. It hit a high of Rs 5496.25 and low of Rs 5435.0 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 4157.92, while the 50-DMA was at Rs 4942.41. 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.

Nikkei share average rose on Friday and logged its best week since mid-August, but gains were capped as the yen strengthened after the Bank of Japan set the stage for future interest rate hikes The tech-heavy Nikkei ended the day up 1.53% at 37,723.91, with chip-sector stocks rallying in line with their U.S. peers. The index advanced 1.57% for the week.

Shriram Finance Ltd. traded at Rs 3535.4 on BSE at 12:33PM (IST) on Friday, up 0.27 per cent. The stock quoted a 52-week low price of Rs 1760.9 and a high of Rs 3622.45. Earlier in the day, the stock saw a gap up opening.

HDFC Asset Management Company Ltd. traded at Rs 4376.4 on BSE at 12:28PM (IST) on Friday, down 0.23 per cent. The stock quoted a 52-week low price of Rs 2565.0 and a high of Rs 4544.5. Earlier in the day, the stock saw a gap up opening.

«The absolute numbers are good. The relative positioning is looking even better with 6.5-7% GDP growth outlook, 12% to 14% corporate EPS growth outlook and that too over a long period of time. So, investors, have really kind of shown a lot of interest, which kind of shows in the numbers that we have been able to pull,» says Mahesh Nandurkar, Jefferies. What is the big understanding of how things are shaping up for the economy and for India Inc? Based on your interactions, both on the record, off the record, inside the conference room, outside the conference room, how is the growth and the earnings picture stacked up? Mahesh Nandurkar: So, I believe that the economic outlook for India is definitely fantastic and the reason why we have that confidence and continue to get that confidence reinforced is when you look at the investment activities in the economy, the fixed capital formation is rising, and it is always investments driven growth is more sustainable, investors like it, it broad bases the market, creates more options and opportunities.

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«We feel that the opportunities are large. It is a beginning and we should look at growing from where we start. It is a modest beginning, but hopefully it will be an aggressive growth as we move along,» says Sanjiv Goenka, Chairman, RPSG Group. Well, the latest announcement coming in wherein Firstsource has deepened its presence when it comes to Australia. Could you talk to me about the strategic intent behind this? Sanjiv Goenka: Well, we have already got a very major presence in US and UK and this is the third big market that we are targeting. It has a presence of large corporates and so there is a business opportunity. The whole administration of the Victoria State and Melbourne City has been extremely supportive and enthusiastic. And we feel that the opportunities are large. It is a beginning and we should look at growing from where we start. It is a modest beginning, but hopefully it will be an aggressive growth as we move along.

Dinshaw Irani, CEO, Helios MF, says they have been moving out of PSU space for a while. Going forward, unless something dramatic happens in the sense of a divestment in the case of PSUs, I don’t think there will be any positive triggers for that space.Irani also says that they have not eased off in smallcaps. How is life after a 50 bps cut? What does it spell for India?

«The focus on exports is clearly very strong from the government side, as well as the country is doing well, the economy is doing well and one of the key ingredients of the forecasted growth over the next five to seven years is the exports component and that is what we are looking at to target and specifically the companies that are exporting and likely to do well on the export side over the next five to seven years,» says Venugopal Manghat, HSBC Asset Management. First, I want to talk a little bit about this Export Opportunities Fund, the NFO. Tell us a little bit more about it as to what the rationale and the theme is. Venugopal Manghat: This is focused on the export opportunities from India. So, we are looking at a universe of stocks or companies that would be having exports revenues of more than 20%.

Indian market reacted strongly to the US Federal decision to reduce the interest rate to 50 bps on Thursday, as Sensex and Nifty soared to record highs. Stocks that were in focus include names like Indus Towers, which fell 8.3%, Vodafone Idea, which declined 19%, and HCL Tech, whose shares dropped 0.8% on Thursday.

Western Carriers 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.

Gold prices steadied near record highs on Friday and were poised for a weekly gain, as markets adjusted to the U.S. Federal Reserve's recent super-sized interest rate reduction and signs that further cuts were on the horizon.

Federal Reserve cut interest rates for the first time in more than four years citing lower inflation expectations and a slowing jobs market. A look at what it means for investors and Indian equities:

Multinationals are rushing to exploit a runaway rally in the Indian stock markets, with more than a dozen firms paring holdings in their local businesses in the past year, while half a dozen others, including Hyundai and LG, are planning public listings. GE T&D India is the latest to join a growing list of global companies like Wabco, ITC, Styrenix Performance Materials, Federal-Mogul Goetze, Timken India, Motherson Sumi, GMM Pfaudler, Thomas Cook, and Whirlpool taking advantage of premium valuations in India, which significantly exceed those of their global counterparts.

initial public offerings (IPOs) — Northern Arc Capital, Western Carriers India, and Arkade Developers — that closed for subscription on Thursday received strong investor interest. Northern Arc Capital's ₹777-crore IPO was subscribed 110.91 times, attracting bids worth ₹62,553 crore. The issue received bids for 238.22 crore shares against the offered 2.14 crore shares, excluding anchor investors. The IPO, priced at ₹249-263 per share, comprised a fresh issue of ₹500 crore and an offer for sale of 1.05 crore shares.

«While the US Fed policy is out, investors will look for the other three central banks' outcomes, namely BOJ, BOE, and China. Overall we expect the market to stay in a range with positive bias,» said Siddhartha Khemka, Head — Research, Wealth Management, Motilal Oswal.

bond yields retreated to a nearly 31-month low Thursday after the US central bank unexpectedly cut rates by half a percentage point overnight. But broader local gauges and export-laden technology counters fell over concerns the outsized reduction re flects hitherto unknown growth challenges in the world’s biggest economy. “Since quantum of the cut is bigger than expectations, it implies concerns of a growth slowdown in the US economy, which led to the initial subdued reaction in markets today,” said Pankaj Pandey, head of retail research, ICICI Securities.

Wall Street traders betting the Federal Reserve will be able to engineer a soft landing spurred a rally in riskier corners of the market, with stocks hitting all-time highs. The S&P 500 climbed 1.7% — notching its 39th record in 2024 and extending this year’s surge to about 20%. Tech led gains, while defensive industries underperformed. The Nasdaq 100 added 2.6% and the Russell 2000 of small caps rose 2.1%. In late hours, FedEx Corp. tumbled on a bearish outlook. Nike Inc. surged after saying longtime executive Elliott Hill is coming out of retirement to replace John Donahoe as chief executive officer.

Federal Reserve cut interest rates by 50 basis points and indicated more rate cuts were on the horizon. Heavyweight stocks that have enjoyed much of this year's stock market rally made fresh gains, with Tesla surging over 7%, and Apple and Meta Platforms each up almost 4%.