Trade Financial News

Tata Mutual Fund has announced a change in fund managers for its eight passive funds through a notice-cum-addendum. The fund house informed its unitholders that the fund manager of its index funds and ETFs will be changed. The changes will be effective from April 26.

Havells India Ltd. dropped 0.16 per cent to Rs 1564.9 at 11:56AM (IST) in Thursday's trade. The stock hit a high of Rs 1574.5 and low of Rs 1556.15 so far during the session. The stock had closed at Rs 1567.5 in the previous session. The counter had a total traded volume of 11:56AM shares so far with a turnover of Rs 1.14 crore on BSE. The stock traded at a price-to-earnings multiple of 83.1 and a price-to-book ratio of 11.24.

Jubilant Foodworks Ltd. fell 0.31 per cent to Rs 438.8 in Thursday's session as of 12:07PM (IST) even as the equity benchmark Sensex traded 3.45 points higher at 73856.39. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 586.35 and a 52-week low of Rs 420.85 on NSE. Around 27847 shares changed hands on the counter till 12:07PM (IST).

Vedanta leading as the top gainer. Starting the year at ₹258.55 per share, Vedanta's stock has surged to the current price of ₹383.45, marking a return of nearly 50%. Currently, the stock is trading at its 24-month high.

₹4655.05 against its previous close of ₹4732.55 and fell about 2.8 per cent to the level of ₹4,599.05. Around 11:15 am, LTIMindtree share price traded 2.76 per cent lower at ₹4,602 apiece. Equity benchmark Sensex was 0.15 per cent up at 73,966.45 at that time.

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GPT Infra Projects continued their winning streak for the second consecutive session, rising by 10% to reach ₹207 apiece. The previous trading session saw a significant gain of nearly 9%, attributed to the joint venture securing an order valued at ₹487 crore from Central Railway, Mumbai. This recent order pertains to the construction of a new BG line in the Solapur-Osmanabad section, spanning from chainage ₹52500 to 83200 in the Solapur Division.

Ashish Kacholia portfolio: Shares of Man Industries (India) Ltd are one of the multibagger stocks that the Indian stock market has delivered in recent years. This multibagger stock has doubled investors' money in the last six months whereas, in one year, this Ashish Kacholia portfolio stock has given more than 350 percent return to its positional shareholders. However, it seems that ace investor Ashish Kacholia is still bullish on this multibagger stock.

Is there anything that Federal Trade Commission Chair Lina Khan doesn’t think she can do? Apparently not. On Tuesday she and her fellow Democratic commissioners effectively invalidated tens of millions of employment contracts without authority from Congress. The FTC’s 570-page rule outlaws so-called non-compete agreements across the economy.

Rail Vikas Nigam Ltd (RVNL), Indian Railway Finance Corporation (IRFC) ,IRCON International , RITES Ltd , RailTel Corporation of India share prices may see up to 30% more upside suggest technical thematic report by Prabhudas Lilladher Pvt Ltd. Rail Vikas Nigam Ltd (RVNL) share price is trading close to ₹284 levels. Prabhudas Lilladher has given a target price of ₹315-340 with a stop loss at ₹255 for Rail Vikas Nigam Ltd (RVNL) share price.

Stock Market News: The domestic benchmark equity indices, the Sensex and the Nifty 50, started Thursday's trading session down as they took a break following four straight days of gains. The Kotak Bank share price slump contributed to the benchmark indices' decline. In the meantime, broader market continued to trade higher.

Day trading stocks to buy today: Following weakness in the Asian stock market, the Indian stock market opened lower on Thursday, ending its four-day winning streak that started last Friday. The Nifty 50 index is down by nearly 60 points, the BSE Sensex is down by over 200 points whereas the Bank Nifty today is down by nearly 170 points. Asian equity markets dropped after Meta Platforms Inc.’s disappointing outlook raised concern about whether the industry that has powered the bull market in equities has run too far.

₹7,130 crore for Q4FY24 against a loss of ₹5,728.4 crore in the corresponding quarter last financial year. Axis Bank share price opened at ₹1,098.30 against its previous close of ₹1,063.70 and soon rose as much as 5.2 per cent to the level of ₹1,119 on BSE. Around 9:40 am, Axis Bank share price traded 4.90 per cent higher at ₹1,115.85 apiece.

solar manufacturers filed trade complaints Wednesday formally requesting that the Biden administration impose tariffs on solar products being exported from Southeast Asia into the United States. The petitions were filed with the Department of Commerce and the U.S. International Trade Commission. They come amid growing alarm within the U.S. solar industry that a flood of cheap Chinese green energy technology exports are pushing down prices of solar panels and threatening efforts by the Biden administration to develop a domestic solar supply chain. Chinese companies have been relocating production of solar products to neighbouring countries to avoid existing tariffs, and U.S. manufacturers believe new trade measures are needed to protect their businesses. The complaints call for investigations into the trade practices of Vietnam, Cambodia, Thailand and Malaysia. In the past year, the United States has imported $12.5 billion worth of solar products from those countries as prices of solar products have dropped by around 50%.

KPI Green Energy Ltd.(up 5.00%), Inox Wind Energy Ltd.(up 4.37%), GE T&D India Ltd.(up 4.06%), Inox Wind Ltd.(up 3.89%), SJVN Ltd.(up 2.63%), Jyoti Structures Ltd.(up 1.77%), Kalpataru Projects International Ltd.(up 1.53%), JSW Energy Ltd.(up 1.35%), Karma Energy Ltd.(up 1.31%) and Torrent Power Ltd.(up 0.62%) were among the top gainers.

Kotak Mahindra Bank after the Reserve Bank of India barred the lender from taking on new clients digitally. The BSE Sensex was trading 187 points or 0.25% lower at 73,668. Nifty50 was trading at 22,345, down 57 points or 0.26% at around 9.19 am.

Aditya Birla Group (ABG) chairman Kumar Mangalam Birla said Vodafone Idea (Vi) is a national asset, and the successful conclusion of its Rs 18,000 crore follow-on public offer (FPO), India’s largest, marks one such turning point for the telecom industry. “Vi is not just a telecom company. It’s a national asset with 215 million users and about 8000 MHz spectrum. That so many marquee investors participated in this equity issuance is a testament to the government’s vision of a digital India,” Birla said in an official statement following Vi’s FPO listing on the NSE Thursday. He added that the emphatic oversubscription of Vi’s FPO, with the overall book being subscribed 7 times and the institutional book being subscribed 19 times, demonstrates the tremendous potential of the India digital story and Vi’s role in it. “The robust engagement from both foreign and domestic investors is heartening. Notably, the full subscription of the retail portion is truly commendable, given the sheer scale of the offer.”

It didn’t take long for the U.S. Chamber of Commerce to try to block a sweeping regulation that prohibits the use of employment clauses that prevent workers from leaving and taking jobs with competing firms.

yen was pinned on the weaker side of 155 per dollar on Thursday as the Bank of Japan (BOJ) kicks off its two-day rate-setting meeting, leaving traders nervous as to whether Tokyo will intervene while policy deliberations are still underway. Having traded in a tight range over the past few days, a buoyant dollar finally broke above the 155 yen level for the first time since 1990 in the previous session, and was last steady at 155.34 yen in early Asia trade.

Oil prices eased in early trade on Thursday as concerns about a potential slowdown in the U.S. economy amid prospects for delayed interest rate cuts outweighed worries over the risk of expanding conflict in the Middle East. Brent crude futures dipped 9 cents, or 0.1%, to $86.95 a barrel at 0024 GMT, and U.S. West Texas Intermediate crude futures slipped 7 cents, or 0.1%, to $82.74 a barrel. Both benchmarks lost less than 1% on Wednesday.

Asian stocks fell on Thursday as disappointing earnings forecasts from Facebook parent Meta Platforms hammered tech shares, while the yen's slump past 155 per dollar for the first time since 1990 raised the spectre of intervention from Tokyo. A 15% dive in shares of Meta in extended trading after the Instagram parent forecast lighter-than-expected current quarter revenue and higher expenses soured the mood, sparking a sell-off in U.S. tech and tech-related stocks.