Trade Financial News

Voltas Ltd. traded 0.21 per cent up at Rs 1832.3 at 11:21AM (IST) on Wednesday, even as BSE benchmark Sensex gained 108.77 points to 82030.06. The stock had settled at Rs 1828.4 in the previous session. The stock quoted a 52-week high price of Rs 1845.25 and 52-week low of Rs 806.9, respectively. As per BSE data, total traded volume on the counter till 11:21AM (IST) stood at 7073 shares with a turnover of Rs 1.29 crore.

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.

The NSE Nifty index was trading 38.0 points up at 25079.1, while BSE Sensex was up 123.94 points at 82045.23 at the time of writing this report.

Krishana Phoschem Ltd.(up 3.00%), The Fertilisers and Chemicals Travancore Ltd.(up 1.42%), Rama Phosphates Ltd.(up 0.85%), Nagarjuna Fertilizers and Chemicals Ltd.(up 0.59%), Coromandel International Ltd.(up 0.29%), Madhya Bharat Agro Products Ltd.(up 0.23%), Khaitan Chemicals & Fertilizers Ltd.(up 0.21%), Southern Petrochemicals Industries Corporation Ltd.(up 0.16%), Rashtriya Chemicals & Fertilizers Ltd.(up 0.11%) and Mangalore Chemicals & Fertilizers Ltd.(up 0.09%) were among the top gainers.

Suzlon Energy surged 5% to reach a day's high of Rs 81.95 on the NSE on Wednesday, marking the second consecutive session of gains and a total increase of over 10% in the two-day rally. The positive investor sentiment is driven by Morgan Stanley's overweight stance on the renewable energy sector. The stock was trading with strong volumes, with nearly 7.6 crore shares changing hands on the NSE around 10 a.m. The total traded value was Rs 617 crore. The stock is nearing its 52-week high of Rs 84.29.

Cholamandalam Investment & Finance Company Ltd. traded 1.23 per cent up at Rs 1526.1 on Wednesday at around 10:50AM (IST), while the benchmark BSE Sensex advanced 89.13 points to 82010.42. As many as 1,657 shares changed hands on the counter with a total value of Rs 0.26 crore.

Benchmark NSE Nifty index rose 46.61 points to 25087.7 amid buying in frontline bluechip stocks.

Vedanta Resources (VRL) on Tuesday launched its dollar bond issue at a final price guidance of 10.875% and has an order book of $1.6 billion. The proceeds will help refinance bonds of $470 million due in 2027 and $1 billion due in 2028, with both carrying an interest rate of 13.875%, potentially cutting funding costs by over 300 basis points (3 percentage points).

State Bank of India (SBI) is likely to raise up to ₹7,500 crore through the issuance of tier-2 bonds next week to meet burgeoning credit demand that has persistently run ahead of deposit accretion by lenders. «They (SBI) are likely to carry out a tier-2 bond sale for up to ₹7,500 crore with a base size of ₹3,500-4,000 crore and the remainder through a greenshoe option. Bidding for the bond sale is likely to take place on September 18 and the pay-in would be on September 19,» a source aware of the developments said to ET.

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.

Donald Trump and Kamala Harris on Inflation: During the high voltage debate that could help in shaping 2024 Presidential elections, the two showcased differing view points on tax cuts, trade wars and more. Trump, 78, criticized Harris for the persistent inflation during the Biden administration's term, though he overstated the level of price increases. He also pivoted quickly to his top issue, immigration, claiming again without evidence that immigrants from «insane asylums» are crossing the U.S. southern border with Mexico.

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

Kaynes Technology India with a target price of Rs 5550. The current market price of Kaynes Technology India is Rs 4648.5. Kaynes Technology India Ltd., incorporated in the year 2008, is a Small Cap company (having a market cap of Rs 29640.09 Crore) operating in General sector.

Data Patterns (India) Ltd., incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 15316.09 Crore) operating in Defence sector.

Aditya Birla Fashion and Retail (ABFRL) Balrampur Chini, Bandhan Bank, Biocon, Chambal Fertilizers & Chemicals, Hindustan Copper and RBL Bank. The Future & Options contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%.

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...

equity mutual funds through a mix of lump sum investments in new fund offers (NFOs) and systematic investment plans (SIPs). Equity schemes garnered ₹38,239 crore in August — the 42nd straight month of inflows — as against ₹37,113 crore in the previous month led by flows into thematic funds, a category that has witnessed a flood of new fund offers in recent months. Flows through SIPs into mutual funds inched up to ₹23,547 crore — the highest ever in a month — compared to ₹23,332 crore in the previous month.

Aashish Somaiyaa, CEO, WhiteOak Capital AMC, says financial services have seen some significant gains in the capital markets over the past three to six months and remain a pocket of safety. WhiteOak has been leaning heavily into this sector. When it comes to IT, they are focusing more on small and midcap companies, especially those serving BFSI clients. They also look at consumer stocks selectively since they invest across various sectors without any specific bias. They are still heavily invested in industrials and manufacturing. Somaiyaa says typically, a change of macros is accompanied by a change of style, sector and market cap and that is what we are witnessing right now. What exactly is happening in the auto space? There was a time when everyone was only singing one tune that auto is a one-way street and that upward momentum is coming in. There was a lot of demand on the ground. But right now, it is the opposite. We are seeing high inventory levels for most of these auto players at the dealership levels. The sales are also not picking up. What is the take coming in the auto sector? How should one read through all of this data while investing in the sector, which is very crucial for the economy? Aashish Somaiyaa: We have to see the entire five-year period.

Sensex and Nifty rose for the second consecutive day on Tuesday, driven by gains in IT stocks ahead of key U.S. inflation data and by pharma stocks following a tax cut on certain cancer drugs. The 30-share BSE Sensex surged 362 points, or 0.44%, to close at 81,921, while the broader NSE Nifty advanced 105 points, or 0.42%, to settle at 25,041.

Nifty future closed positive with gains of 0.45% at 25097 levels on Tuesday. India VIX was down by 6.18% from 14.24 to 13.36 levels. On the options front, the maximum Call OI is placed at 26,000 and then towards 25,100 strikes while the maximum Put OI is placed at 25,000 and then towards 24,600 strikes.

Syrma SGS Technology Ltd. with a target price of Rs 540. The current market price of Syrma SGS Technology Ltd. is Rs 420. Syrma SGS Technology Ltd., incorporated in the year 2004, is a Small Cap company (having a market cap of Rs 7456.80 Crore) operating in General sector.