Trade Financial News

Mahesh Rajaraman as Chief Risk Officer (CRO) of the company with effect from August 1, 2024. In a regulatory filing, Mahindra Finance said Mallika Mittal has tendered her resignation and ceased to be the CRO of the company with effect from May 17. Mittal would be exploring opportunities externally as per her resignation letter. Her resignation would be effective from close of business hours on November 16, 2024, when she would cease to be employee of the company, it added. The Non-banking Finance Company (NBFC) said in the interim period that Gaurav Verma, Head Underwriting & Product Policy, would exclusively oversee the risk management function and would be responsible for the responsibilities under the role of CRO until Rajaraman joins as the CRO.

Also Read: Copper prices hit all-time high to break March 2022 record; what's driving the rally? Copper on the LME has surged by 28% this year, while SHFE copper has increased by 25%. SHFE copper inventories remain low compared to the beginning of 2024, despite May typically being a period of strong copper demand in China. Nickel prices have also risen sharply, nearing $21,000 per ton in the previous trading session, marking their highest level since September 2023.

ICICI Prudential Life Insurance Company Ltd. traded at Rs 577.1 on BSE at 01:18PM (IST) on Tuesday, down 2.02 per cent from previous close. The stock quoted a 52-week low price of Rs 421.45 and a high of Rs 640.8.

India's Russian oil imports rose a nine-month high in April after shipments on non-sanctioned tankers operated by Russia's largest shipping company Sovcomflot resumed, tanker data obtained from shipping and trade sources showed. Refiners in India briefly stopped importing Russian oil in tankers belonging to Sovcomflot after the company's ships, along with its 14 tankers, were designated by Washington in February as being in breach of Western sanctions. The West has imposed the sanctions against Russia since it invaded Ukraine in 2022 and has enacted price caps on oil and oil products loaded at Russian ports aimed at cutting Moscow's oil revenue that funds the war.

Indian Hotels Company Ltd. fell 0.29 per cent to Rs 568.95 at 01:33PM hours (IST) on Tuesday. Earlier in the day, the stock saw a start to the session. As per data available on BSE, total traded quantity on the counter stood at 72,771 shares with a turnover of Rs 4.12 crore till 01:33PM (IST). The stock traded at a price-to-earnings (P/E) multiple of 64.51, while the price-to-book value ratio stood at 8.9.

energy demand, and a move towards renewable energy sources are driving a dramatic transformation of the Indian power sector. Both domestic and foreign investors may find lucrative investment opportunities in this sector. India's power consumption is expected to almost double due to urbanization, economic growth, and rising per capita income by 2040. India's growth trajectory is attracting investments across the value chain, positioning the country as a major player in the global energy markets, in our view.

Colgate-Palmolive (India) Ltd. fell 0.8 per cent to Rs 2669.3 in Tuesday's trade as of 12:22PM (IST) even as the benchmark Nifty ruled at 22536.2, up 34.21 points. The scrip had closed at Rs 2690.9 in the previous session. The stock quoted a 52-week low of Rs 1567.65 and a high of Rs 2961.15. The company quoted a market-cap of Rs 73436.12 crore on the BSE.

Ashok Leyland Ltd. traded 0.33 per cent down in Tuesday's trade at 12:17PM (IST). Around 425,208 shares changed hands on the counter. The counter opened at Rs 211.25 and touched an intraday high and low of Rs 211.9 and Rs 209.2, respectively, in the session so far. The stock of Ashok Leyland Ltd. quoted a 52-week high of Rs 211.9 and a 52-week low of Rs 144.2.

Tata Elxsi Ltd. dropped 0.81 per cent to Rs 7251.4 at 12:27PM (IST) in Tuesday's trade. The scrip hit a high of Rs 7347.3 and low of Rs 7245.45 so far during the session. The stock had closed at Rs 7311.1 in the previous session. The counter had a total traded volume of 12:27PM shares so far with a turnover of Rs 1.64 crore on BSE. The stock traded at a price-to-earnings multiple of 57.46 and a price-to-book ratio of 19.34.

PI Industries Ltd. traded 0.21 per cent up in Tuesday's trade at 12:07PM (IST). Around 2,688 shares changed hands on the counter. The scrip opened at Rs 3589.05 and touched an intraday high and low of Rs 3595.0 and Rs 3547.1, respectively, in the session so far. The stock of PI Industries Ltd. quoted a 52-week high of Rs 4032.0 and a 52-week low of Rs 3060.0.

DLF Ltd. traded 0.48 per cent up at Rs 855.35 at 11:57AM (IST) on Tuesday, even as BSE benchmark Sensex gained 13.35 points to 74019.29. The scrip had settled at Rs 851.25 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 967.0 and Rs 453.5, respectively.

Nvidia’s shares after the chipmaker reports earnings on Wednesday, though expectations for volatility are more muted than in the past, U.S. options markets show. Nvidia's options are primed for an 8.7% swing in either direction by Friday, according to data from options analytics firm Trade Alert.

Demat accounts. This is a serious issue and concerned authorities should look into it. Even few minutes of issue can lead to huge losses of common man.

Balkrishna Industries Ltd.(up 9.44 per cent), Samvardhana Motherson International Ltd.(up 2.01 per cent), Exide Industries Ltd.(up 1.09 per cent), Maruti Suzuki India Ltd.(up 0.47 per cent) and Tata Motors Ltd.(up 0.32 per cent) were among the top gainers.

Mankind Pharma Ltd.(up 1.74 per cent), Divi's Laboratories Ltd.(up 1.18 per cent), Biocon Ltd.(up 1.12 per cent), Cipla Ltd.(up 0.98 per cent) and Sanofi India Ltd.(up 0.92 per cent) were among the top gainers.

Avenue Supermarts Ltd. traded 0.99 per cent higher in Tuesday's session at 11:11AM (IST). The stock opened at Rs 4655.05 and has touched an intraday high and low of Rs 4732.9 and Rs 4613.15, respectively, during the session so far. The stock quoted a 52-week high of Rs 4892.2 and a 52-week low of 3375.25. About 2,646 shares changed hands on the counter so far.

Bohra Industries Ltd.(up 2.14%), Madras Fertilizers Ltd.(up 2.09%), Khaitan Chemicals & Fertilizers Ltd.(up 1.78%), Mangalore Chemicals & Fertilizers Ltd.(up 0.54%), Sikko Industries Ltd.(up 0.45%), Southern Petrochemicals Industries Corporation Ltd.(up 0.33%), Gujarat State Fertilizer & Chemicals Ltd.(up 0.26%) and National Fertilizers Ltd.(up 0.20%) were among the top gainers.

Honasa Consumer Ltd.(up 5.12%), Future Consumer Ltd.(up 4.77%), JHS Svendgaard Laboratories Ltd.(up 0.81%), Adani Wilmar Ltd.(up 0.79%), Varun Beverages Ltd.(up 0.19%) and Britannia Industries Ltd.(up 0.02%) were among the top gainers.

Indian rupee inched up to its highest level in nearly a month in early trading on Tuesday but traders expect equity-related outflows and importer dollar demand to hurdle further gains in the local unit. The rupee was at 83.3250 against the U.S. dollar as of 10:00 a.m. IST, compared with its close at 83.3350 on Friday. Indian financial markets were shut on Monday.

shares of ABS Marine Services listed on the NSE SME platform with a premium of 100% on Tuesday. The stock was listed at Rs 294 as against an issue price of Rs 147 per share. Ahead of the debut, the company's shares were trading with a premium of Rs 100 in the unlisted market.

The NSE Nifty index was trading 36.41 points down at 22465.6, while BSE Sensex was down 215.3 points at 73790.64 at the time of writing this report.