UPS Financial News

Vodafone Idea have fallen by 16% in one month and by 20% in the current year so far, following global brokerage firm Goldman Sachs’ commentary on the stock. The global brokerage firm Goldman Sachs, earlier in the last week, had given a target price of just Rs 2.5 and signaled a downside potential of as deep as 83%, following which the shares of the company tanked up to 14% in an intraday trade.

Shree Cements Ltd. traded 0.11 per cent up at Rs 25740.25 at 11:56AM (IST) on Wednesday, even as BSE benchmark Sensex gained 112.29 points to 82033.58. The scrip had settled at Rs 25711.4 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 30710.15 and Rs 23714.05, respectively.

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.

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.

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.

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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.

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.

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.

Securities and Exchange Board of India won’t make it go away. Nor will chair Madhabi Puri Buch’s decision to stop answering questions about her potential conflict of interest prevent the opposition Congress Party or Hindenburg Research from asking them. Buch, the first SEBI chief from the private sector, is yet to respond to the opposition party's repeated questioning of her income sources, though she was quick to deny the short seller’s criticism of her past investments. Also Read: Madhabi Buch maintained complete silence for weeks: Hindenburg

Reserve Bank of India has imposed a penalty of ₹1.91 crore on Axis Bank and ₹1 crore on HDFC Bank for non-compliance with regulations. Both banks opened certain savings deposit accounts in the name of ineligible entities. The monetary penalty on Axis Bank pertains to violations done in FY23. The bank allotted multiple customer identification codes to certain customers instead of a unique customer identification code for each customer and obtained collateral security for agricultural loans up to ₹1.60 lakh in certain cases. Besides, Axis Bank's wholly-owned subsidiary undertook business as a technology service provider, which is a violation of the Banking Regulation Act.

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.

Apurva Prasad, Vice President, HDFC Securities, says IT companies with higher BFSI exposure, would be candidates that can potentially surprise on earnings. The other element is if you look at the guidance that the companies have provided for the year, most of the guidance does not bake in the macros recovery or macro getting better. Among mid-tier companies, the ones that continue to do relatively better versus peers would be Persistent Systems. Also, with higher BFSI exposure, names like TCS can be candidates.

Dixon Technologies (India) with a target price of Rs 15000. The current market price of Dixon Technologies (India) is Rs 12495.05. Dixon Technologies (India) Ltd., incorporated in the year 1993, is a Mid Cap company (having a market cap of Rs 74894.69 Crore) operating in Consumer Durables sector.

New Delhi: Spain’s Zelestra plans to invest $5 billion in India to build 10GW of wind and solar power capacity by the end of the decade, a top executive said, doubling its previous target of achieving 5GW by 2026. The company, backed by private equity firm EQT, may also enter India’s lucrative commercial and industrial sector as part of the expanded plan, chief executive officer Leo Moreno said in an interview. Typically, renewable energy projects raise 30% equity and 70% project finance, but given the strong backing from EQT, Zelestra won’t need to raise any external equity, Moreno said.

chakri" in the kya lagta hai stock market lingo. Given the low volumes of such stocks, as soon as this pre-agreed buying and selling would come in, the price of the stock would start to go up. Once the price went up regularly for a few days, it would appear on the radar of retail investors looking to make a quick buck.