Trade Financial News

Havells India Ltd had a challenging December quarter (Q3FY24), owing to weak consumer demand. Sales growth was sluggish across most businesses. Investors are primarily concerned about the capacity challenges in the cables segment and the prolonged journey towards profitability for Lloyd Consumer.

₹25 per share. This indicates that the Baweja Studios shares were trading at a premium of 13.89% at ₹205 apiece on the GMP, as compared to its issue price of ₹180 per share. Also Read: IPO Frenzy: 16 companies hit Dalal Street in January with 6 more set to list; a look at top performers Baweja Studios IPO has been subscribed 21% so far on the first day as the issue received bids for 10.27 lakh equity shares as against 47.85 lakh shares on the offer, as per data available till 3:00 pm.

monthly EM Tracker showed. The tracker, which assesses economic activity across 10 EMs based on seven high-frequency indicators, gave India a record-high score of 80.5 out of 100 in December 2023. The rank and score are provisional since some countries are yet to release full data.

Also Read: Budget 2024: FY25 fiscal deficit likely to be estimated at 5.5% of GDP, say economists “Government’s commitment to fiscal consolidation will be in focus for fixed income investors. Since the government has committed to target a 4.5% fiscal deficit by FY26, the bond market will be keenly looking at consolidation from 5.9% in FY24. The continuation of capex expenditure will be keenly observed.

Also Read: Qualitek Labs shares make stellar debut; stock lists with 90% premium at ₹190 In terms of top performers, Kay Cee Energy & Infra stood at the top, currently trading at ₹295.95 apiece, which is 447% higher than its IPO price of ₹54. Following closely are Maxposure Australian Premium Solar (India), Shri Balaji Valve Components, and Akanksha Power and Infrastructure, all trading with gains ranging from 130% to 276% from their respective issue prices.

Mulltibagger stock: Shares of Mufin Green Finance Limited are one of the multibagger stocks that the Indian stock market has delivered in the last one year. This NBFC stock has surged from around ₹44.40 apiece level to ₹219.25 per share mark, logging around 400 per cent appreciation in the last six months. However, it seems that the NBFC stock still possesses some upside potential.

₹42-45 per share. The issue has witnessed robust subscription and has been fully subscribed on the first day of bidding. At 2:30 pm, the IPO was subscribed 1.23 times.

By John Revill

ONGC (Oil and Natural Gas Corporation ) share price rose more than 5% during the intraday trades on Monday as it scaled 52-week highs. The stock was amongst the largest gainers in the Nifty-50 stocks.

In Monday’s trading session, the following five stocks witnessed a build of fresh long positions. Let us first understand how this conclusion is reached, whether the stock has seen a buildup of fresh long position or not.

InterGlobe Aviation Ltd. slipped 0.19 per cent to Rs 2859.2 in Monday's trade as of 12:43PM (IST). It hit a high of Rs 2922.5 and low of Rs 2847.55 during the session.

Cryptocurrency markets traded marginally lower on Monday, dragged by Bitcoin, Ethereum, Cardano, and Avalanche. However, over the weekend, Bitcoin surged over $42,000 level, and other altcoins also saw gains. At 11.39 a.m., Bitcoin was trading 0.84% lower at $42,164, while Ethereum was down 1.05% at $2,266. «Over the weekend, Bitcoin climbed back above $42,000, aligning with the performance of equities. A breach of the $42,800 resistance might set the stage for a move to the $43,500 level. The market could see renewed buyer interest if Bitcoin surpasses $44,700. Conversely, a failure to overcome resistance places support at $41,750,» said Edul Patel, CEO of Mudrex. CoinDCX Research Team said, " Ethereum (ETH) closed on a bearish note and is still positioned below the 20EMA Daily. Currently, ETH is in the middle of its range, slightly above $2,275. Key support and resistance levels for ETH are at $2,175 and $2,388, respectively."

PI Industries Ltd. traded 1.06 per cent up in Monday's trade at 12:37PM (IST). Around 6,201 shares changed hands on the counter.

3:5 bonus shares, 1:10 stock split: A long-term stock market investor enjoys some extra benefits over a short-term investor or a trader. While short-term investors and traders earn from the stock movement only, a long-term investor gets various rewards that a listed company announces from its capital reserves. These rewards are announced in the form of dividends, bonus shares, stock split, buyback of shares, etc.

Dhanlaxmi Bank surged an additional 5% in today's intraday trade, reaching ₹53.75 apiece, marking highest level since August 2014. In the last 10 trading sessions, the stock has witnessed a remarkable ascent, climbing from ₹30.30 apiece to ₹51.20, reflecting a stellar return of 69%. In the current month so far, the stock has jumped by 75.37%.

Adani Power, the largest private thermal power producer in India, jumped 5% in early trade on Monday, reaching ₹570 apiece, after the company posted a robust set of numbers for the December quarter. In Q3 FY24, Adani Power reported a significant boost in net profit, soaring from ₹9 crore in the corresponding period last year to ₹2,738 crore in Q3FY24, primarily driven by increased revenues.

BSE Sensex soared 896 points to 71,637.61 while the Nifty50 jumped 291 points to 21,429.60. The market exhibited a clear bullish bias, as 37 out of the Nifty stocks were trading in positive territory, while only 13 were in the negative zone. The top gainers were ONGC up over 7 percent followed by Adani Enterprises, Adani Ports, Reliance Industries, and Coal India.

₹19 lakh crore. Reliance shares rallied as much as 4.19% to a fresh high of ₹2,824.00 apiece on the BSE. On NSE, Reliance share price jumped 4.35% to a record high of ₹2,824.00 apiece.

SJVN share price jumped nearly 15% to touch a 52-week high on Monday's trading session after the company won a 100 MW solar project in an e-reverse auction run by Gujarat Urja Vikas Nigam Ltd (GUVNL). SJVN share price today opened at ₹120.96 apiece on BSE.

Adani Enterprises with an ‘Overweight’ rating and a target price of ₹4,368 per share, expecting an upside of over 50% on Adani Enterprises shares. Adani Enterprises share price jumped over 5% in early trade on Monday. The stock gained as much as 5.89% to ₹3,065.15 apiece on the BSE.

Ashok Leyland Ltd. traded 2.2 per cent up at Rs 173.5 at 11:51AM (IST) on Monday, even as BSE benchmark Sensex gained 917.2 points to 71617.87.