Trade Financial News

REC Ltd. traded 1.61 per cent up at Rs 571.45 at around 02:08PM (IST) on Thursday. The stock had closed at Rs 562.35 in the previous session. Equity benchmark Sensex traded 771.74 points higher at 82294.9 around the same time.

IPO) of Western Carriers will open for public subscription on Friday. Ahead of the debut, the company's shares have no GMP in the unlisted market. The IPO, which is priced in the range of Rs 163-172 apiece, will close on September 18 and the bidding for anchor investors will be done later today.

India (SEA). «The overall import of vegetable oils during the first ten months of the current oil year (November 2023 to August 2024) is reported at 136.8 lakh tonnes compared to 141.2 lakh tonnes during the same period of last year; down by 3%,» said SEA in a media release. The trade estimate for import of edible oils during September and October is about 27 to 28 lakh tonnes. «The total import of cooking oils during the 2023-24 oil year is likely to be 160 -165 lakh tonnes, which is similar to the previous year. The total stock as on September 1, stands at 29.25 lakh tonnes, up by 23,000 tons from the 29.02 tonnes reported on August 1, 2024,» said SEA.

cryptocurrency market experienced a notable surge on Thursday, buoyed by U.S. core inflation data that slightly exceeded expectations, diminishing hopes for a significant rate cut by the Federal Reserve next week. U.S. consumer prices edged up in August, with core inflation remaining somewhat persistent. The core Consumer Price Index (CPI) increased by 0.28% for the month, surpassing the anticipated 0.2% rise.

«Of course, structurally, we may see a higher interest rate compared to the history or the past, but still, they should be significantly lower from what they are today, at least 100 to 150 bps or maybe closer to 200 bps lower over the next 12-18 months so that is another very big positive,» says Sachin Shah, Emkay Investment Managers. First up, the market view itself because, of course, while a lot of people have been saying that we are toppish and the fundamentals perhaps are getting overshadowed by liquidity right now, what is your view on where the market momentum lies and what should we factor in for the market peak? Sachin Shah: I think it is getting kind of a consensus view that the valuations are getting a bit stretched, at least in some pockets of the market, particularly the smallcaps and midcap, those kind of things, and of course, the largecaps are much more reasonably valued.

palm oil imports in August fell more than a quarter from a month ago, primarily driven by sufficient domestic stocks and negative margins that discouraged refiners from purchasing more of the tropical oil, a leading trade body said on Thursday. Lower purchases by the world's biggest importer of vegetable oils could lead to higher stocks of palm oil in key producers Indonesia and Malaysia, weighing on benchmark futures. India's palm oil imports fell 26% in August from July to 797,482 metric tons, the Solvent Extractors' Association of India (SEA) said in a statement.

ACC Ltd. traded 0.62 per cent up at Rs 2453.65 at around 01:43PM (IST) on Thursday. The stock had closed at Rs 2438.3 in the previous session. Equity benchmark Sensex traded 155.8 points higher at 81678.96 around the same time.

“We wish to inform you that M/s. Krishna Institute of Medical Sciences Limited (‘the Company’) has fixed Friday, September 13, 2024, as ‘Record Date’ to determine the eligibility of shareholders of the Company for Subdivision/split of 1 (One) equity share having face value of Rs.10/- (Rupees Ten Only) each, full paid-up, be subdivided into 5 (Five) equity shares having face value of Rs.2/- (Rupees Two only) each,” said the company in its filing to the exchanges.

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Hemang Jani, Independent Market Expert, says in India, it will be better to play the EV theme through some of the incumbent players. In two-wheelers, companies like Bajaj, Hero, TVS, and in four-wheelers, Maruti. It has been indicated that a large part of Maruti’s growth will come through hybrids or EVs. It makes more sense to go with those established players rather than trying to find newer emerging stories with very high valuations. Jani would also stay away from OMCs because state elections are coming and just to get some more positive sentiment, the government may roll out some kind of a price cut and that may not be that positive for the oil marketing companies. What is the outlook when it comes to the EV push, given that we are talking about this scheme? The Atul Auto management is saying it is going to benefit the entire EV value chain. Your take? Hemang Jani: The fact that there is going to be a certain amount of incentivisation by the government is pretty much known and the actual rollout is not that good compared to what the market was expecting. Also, for EV as a theme, there is too much hype and many IPOs. Even some of the existing players who have that offering are commanding much higher valuations whereas the actual growth at the ground level may not be that good.

Bharat Forge Ltd. traded 1.46 per cent up in Thursday's trade at 11:30AM (IST). Around 2,887 shares changed hands on the counter. The counter opened at Rs 1564.0 and touched an intraday high and low of Rs 1584.4 and Rs 1564.0, respectively, in the session so far. Shares of the company of Bharat Forge Ltd. quoted a 52-week high of Rs 1826.2 and a 52-week low of Rs 1002.7.

«So, the second quadrant, which even debt or bond yields are on a quieter phase. The third area is about currencies. Again, you will find that globally, there is no major upheaval as far as currency grows,» says Atul Suri, Marathon Trends — PMS. Markets are looking slightly jammed and global volatility has kicked in. Are we in for a volatile and a tough second half of this calendar year? Atul Suri: Actually, I think that it is human nature to be worried about things and you can see the markets yesterday, what happened in the US, down 500-600 points on the same data, closed 100-200 points higher.

Ravindra Energy Ltd.(up 5.00%), Inox Wind Ltd.(up 3.72%), Inox Wind Energy Ltd.(up 2.86%), KEC International Ltd.(up 2.72%), GE Power India Ltd.(up 2.15%), GE T&D India Ltd.(up 1.92%), JSW Energy Ltd.(up 1.89%), Jyoti Structures Ltd.(up 1.87%), Gujarat Industries Power Company Ltd.(up 1.54%) and Torrent Power Ltd.(up 1.52%) were among the top gainers.

InterGlobe Aviation Ltd. traded 1.72 per cent up at Rs 4982.4 at 11:20AM (IST) on Thursday, even as BSE benchmark Sensex gained 273.38 points to 81796.54. The stock had closed at Rs 4897.8 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 4987.5 and Rs 2334.95, respectively.

Indian rupee witnessed range-bound trade in the morning session on Thursday and appreciated by 2 paise to 83.97 against the US dollar, amid a positive trend in domestic equities and foreign fund inflows. Forex traders said the rupee continues to hold steady within a well-defined range on active intervention by the Reserve Bank of India (RBI). At the interbank foreign exchange market, the local unit moved in a narrow range. It opened at 83.97 against the American currency, registering a rise of 2 paise over its previous close.

Star Cement with a target price of Rs 257. The current market price of Star Cement Ltd. is Rs 209.9. Star Cement Ltd., incorporated in the year 2001, is a Mid Cap company (having a market cap of Rs 8443.73 Crore) operating in Cement sector.

Bharat Electronics Ltd. traded 0.76 per cent up at Rs 290.25 at 11:16AM (IST) on Thursday, even as BSE benchmark Sensex gained 225.31 points to 81748.47. The scrip had closed at Rs 288.05 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 340.35 and Rs 127.0, respectively.

Varun Beverages surged 6% to an intra-day high of Rs 665.65 on BSE as the stock has started trading on an ex-split basis from today (Thursday), which was the record date fixed for the purpose of its 2:5 stock split. The shareholders whose names appear in the company's database on the record date, ie, September 12, are eligible for the said stock split.

Bajaj Auto Ltd.(up 2.63 per cent), Samvardhana Motherson International Ltd.(up 2.1 per cent), Bosch Ltd.(up 1.84 per cent), TVS Motor Company Ltd.(up 1.26 per cent) and Exide Industries Ltd.(up 1.02 per cent) were among the top gainers.

Shriram Finance Ltd. rose 2.16 per cent to Rs 3352.05 in Thursday's trade as of 10:24AM (IST) even as the benchmark Nifty ruled at 25005.1, up 86.65 points. The scrip had closed at Rs 3281.1 in the previous session. The stock quoted a 52-week low of Rs 1760.9 and a high of Rs 3363.4. The company quoted a market-cap of Rs 125176.69 crore on the BSE.

Prestige Estates Projects Ltd.(up 2.63 per cent), Godrej Properties Ltd.(up 1.18 per cent), DLF Ltd.(up 0.92 per cent), Sunteck Realty Ltd.(up 0.53 per cent) and Oberoi Realty Ltd.(up 0.44 per cent) were among the top gainers.