Trade Financial News

Sandip Sabharwal, asksandipsabharwal.com, says there is much excess capacity in crude now, and with a huge number of LNG gas projects coming on stream next two to three years, the overall crude and oil and gas basket will remain subdued. So, it is going to be a good two-three-year phase unless and until something very significantly negative happens geopolitically. The next two to three years with the normal volatility in these commodities should be fine for the consumers. Sabharwal further says that as the market rally continues across sectors, which company you need to book out of or which you want to hold, will depend on relative valuations. What is the outlook on traditional defensives that have been proving their might? FMCG & pharma counters have been at the forefront in the last few weeks. Is there more to go? Sandip Sabharwal: Given the valuation the markets have reached, there is a high probability that defensives might outperform as the markets stall going forward, which they should. The same pace of upside is very tough to maintain. Now, the key for the performance of these companies from here on, on absolute terms, how much percentage gain they can give will also depend on the actual volume recovery and what actually has been the impact of good monsoons, etc, improve sentiments on rural, urban demand for the products of these companies.

Nazara Technologies gained over 4% to hit a fresh 52-week high of Rs 1,048.80 on the NSE after the company announced plans to acquire a 47.7% stake in Moonshine Technology Private Limited (MTPL) for Rs 832 crore. Additionally, Nazara will inject Rs 150 crore in primary capital into Moonshine via compulsory convertible preference shares. Moonshine is the parent company of PokerBaazi, an online poker gaming platform.

ICICI Lombard General Insurance Company Ltd. traded 0.07 per cent down at Rs 2120.0 at 12:02PM (IST) on Friday, even as BSE benchmark Sensex dropped 41.22 points to 82921.49. The scrip had closed at Rs 2121.6 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 2284.15 and Rs 1266.0, respectively.

Ottawa may not be done firing trade salvos at China as Finance Minister Chrystia Freeland said the federal government was considering further tariffs.

Ambuja Cements Ltd. rose 0.74 per cent to Rs 633.65 at 11:35AM hours (IST) on Friday. 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 41,160 shares with a turnover of Rs 2.59 crore till 11:35AM (IST). The stock traded at a price-to-earnings (P/E) multiple of 47.02, while the price-to-book value ratio stood at 3.25.

HG Infra Engineering shares jumped over 5% to Rs 1,579 in Friday's intraday trade on BSE after the company received an order worth Rs 716 crore from Central Railway. The contract involves constructing a new broad gauge line between Dhule (Borvihir) and Nardana in Maharashtra, covering approximately 49.45 km. The project, to be executed under the engineering, procurement, and construction (EPC) model, has a timeline of 30 months.

The NSE Nifty index traded 24.06 points down at 25364.85, while BSE Sensex was down 49.3 points at 82913.41 as of 10:54AM(IST)on September 13.

Campus Activewear have surged 24% over the last 5 trading sessions, reaching a new all-time high of Rs 345.10 on the BSE today amid heavy trading volumes. As of 10 a.m. today, 86.5 lakh shares worth Rs 292.64 crore were traded on the NSE, and the stock currently has a market capitalization of Rs 10,385 crore.

PG Electroplast with a target price of Rs 770. The current market price of PG Electroplast Ltd. is Rs 617. PG Electroplast Ltd., incorporated in the year 2003, is a Small Cap company (having a market cap of Rs 16044.95 Crore) operating in Electric/Electronics sector.

ACC Ltd. gained 1.24 per cent to Rs 2497.85 in Friday's trade. It hit a high of Rs 2502.0 and low of Rs 2455.55 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 2455.2, while the 50-DMA was at Rs 2477.07. 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.

Aarti Industries, Aditya Birla Fashion and Retail (ABFRL), Balrampur Chini, Bandhan Bank, Chambal Fertilizers & Chemicals, Granules India, Hindustan Copper and RBL Bank. Granules India is the latest entrant to the ban list.

Sobha Ltd.(up 3.7 per cent), Godrej Properties Ltd.(up 2.68 per cent), DLF Ltd.(up 2.49 per cent), Macrotech Developers Ltd.(up 1.99 per cent) and Mahindra Lifespace Developers Ltd.(up 1.35 per cent) were among the top gainers.

Benchmark NSE Nifty index fell 25.36 points to 25363.55 amid selling in frontline bluechip stocks.

food delivery giant have performed exceptionally well, giving multibagger returns of 126% in the current calendar year and analysts are still positive on the future ambitions of the company. Zomato’s overall strategy reflects a strong focus on profitability and scaling across multiple verticals. The food delivery segment remains the core of its business, where Zomato has achieved steady growth, reaching 13% GMV growth in USD terms by the end of FY24.

Zomato Ltd. with a target price of Rs 325. The current market price of Zomato Ltd. is Rs 283.9. Zomato Ltd., incorporated in the year 2010, is a Small Cap company (having a market cap of Rs 250598.11 Crore) operating in Services sector.

Bajaj Housing Finance IPO, which was expected on Thursday, is now likely to be finalised today. The shares are expected to get listed on the exchanges on September 16. In the unlisted market, the company's shares are trading with a GMP of Rs 79, which translates to a premium of 114% to the issue price.

Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk and Bitcoin Magazine.

Subscribe to enjoy similar stories. “The next industrial revolution has begun." Jensen Huang, chief executive of Nvidia Corp., on the earnings call for the chipmaker’s financial second quarter ended 28 July. A glimpse of this revolution was already visible in Nvidia’s full-year earnings for 2023-24.

Indian equities had a euphoric day on Thursday as Nifty made a fresh high above 25400 levels amid strong buying witnessed in the last hour of the session. «Overall we expect the market to continue its ongoing momentum on the back of healthy buying by FIIs and retail participation at every dip. Key event to watch out on the domestic front — India’s inflation data,» said Siddhartha Khemka, Head — Research, Wealth Management, Motilal Oswal.

Wall Street's main indexes closed higher on Thursday after the latest inflation data reinforced expectations for a 25-basis point rate cut by the Federal Reserve, while Moderna's weak revenue forecast made it the S&P 500's biggest percentage loser. The producer price index (PPI) for final demand rose 0.2% in August, compared with estimates for 0.1% growth. The core number, which strips out volatile food and energy prices, rose 0.3%, higher than the 0.2% forecast.

interest rate cut next week, after media reports suggested the decision would be a closer call for officials than previously thought. Traders raised bets back to 39% for a 50-basis point reduction on Sept. 18, according to LSEG data, from about 28% before articles in the Financial Times and Wall Street Journal appeared.