UPS Financial News

Saraswati Saree Depot, which opened for subscription earlier today, sailed through within hours of opening. The subscription for the IPO, which closes on August 14, stood at 2.46 times so far on Day 1. The issue was fully subscribed in all the categories, but retail and non-institutional investors led the bidding. The retail portion of the IPO was booked 3.34 times and the NII part was subscribed 5.06 times.

Pidilite Industries Ltd. traded at Rs 3058.85 on BSE at 01:55PM (IST) on Monday, down 2.34 per cent from previous close. The stock quoted a 52-week low price of Rs 2293.1 and a high of Rs 3277.8.

Tube Investments of India Ltd. slipped 1.95 per cent to Rs 3929.55 in Monday's trade as of 02:05PM (IST). The stock hit a high price of Rs 3989.65 and low of Rs 3901.65 during the session.

Anish Tawakley, Deputy CIO-Equity, ICICI Prudential AMC, says he focuses more on cycles than on big 10-year structural trends. On a 10-year structural trend, one has to be in the right company because even if you look at the retailing example, it is a 10-year, 20-year trend, but it is not as if every company has done well. There are better opportunities in automobiles, capital goods, cement, and real estate because that is a sector that could still produce earnings surprises. Tawakley also says that we are still in an upcycle at the moment economically. We will reach the peak of this cycle when power capacity utilisation peaks. Let us start with your market view risk versus reward, how would you map the current market setup for our viewers? Anish Tawakley: At this point, the earnings outlook is reasonably good given that the economy is in good health. The market valuations are not cheap. So, anybody coming into the market should be coming in with at least a three-year view. One should not be coming in for very short-term gains. But the economic outlook is very healthy and the earnings outlook is also reasonably robust.

Honasa Consumer fell over 6% to Rs 444 in Monday's trade on the BSE, despite the company reporting a 63% year-on-year (YoY) increase in consolidated net profit for the June quarter of FY25, rising to Rs 40 crore from Rs 24 crore in the same quarter last year. The company's revenue from operations for the June quarter surged 19% year-on-year (YoY) to Rs 554 crore, up from Rs 466 crore in the same period last year.

Tata Elxsi Ltd. slipped 0.28 per cent to Rs 6853.05 in Monday's trade as of 12:33PM (IST). The stock hit a high price of Rs 6887.3 and low of Rs 6790.0 during the session.

Crypto custody platform Bitgo is planning to move the wrapped bitcoin (WBTC) product to its joint venture with Hong Kong-based BiT Global which is triggering a backlash due to Justin Sun’s involvement.

Godrej Consumer Products Ltd. slipped 3.23 per cent to Rs 1398.15 in Monday's trade as of 12:28PM (IST). The stock hit a high price of Rs 1444.0 and low of Rs 1395.15 during the session.

Vedanta Ltd. traded 0.72 per cent up at Rs 431.8 at 11:41AM (IST) on Monday, even as BSE benchmark Sensex gained 226.84 points to 79932.75. The scrip had closed at Rs 428.7 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 506.85 and Rs 207.85, respectively.

Voltas Ltd reported 58% year-on-year (yoy) jump in standalone net profit at Rs 339.14 crore for the first quarter ending June, on back of a 45% yoy growth in revenue from operations at Rs 3920.26 crore. In the AC business which is the unitary cooling products business of the company, segment revenue shot up by 51% YoY to Rs 3,802.17 crore for the quarter under review. The segment profitability of this business improved by 58% YoY to Rs 327.02 crore last quarter. The country’s largest AC brand said it sold a record one million units of AC last quarter with overall volume growth of 67% YoY.

premiumisation trend further got magnified in sales of electronic products such as smartphones, appliances and televisions in the January to June period of this year, with the industry’s value growth significantly outpacing volume or number of units sold in brick-and-mortar stores. The overall consumer electronics market in offline retail grew by 11% by value in the first half of this calendar year as compared to the same period last year, whereas volume went up by a marginal 1%, latest data by market researcher GfK India shows. This indicates consumers only purchased premium or high value goods with sales of the entry-to-mid segment continue to be severely impacted. For instance, GfK reported overall mobile phone sales by volume declined by 6% in the Jan-Jun period whereas by value it went up by 10%. The smartphone segment registered a 12% increase in value, while by volume there was no growth.

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Shree Cements Ltd. gained 0.25 per cent to Rs 24344.65 in Monday's trade. It hit a high of Rs 24453.2 and low of Rs 24055.55 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 26546.34, while the 50-DMA was at Rs 27020.73. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Inox Wind with a target price of Rs 205. The current market price of Inox Wind Ltd. is Rs 185.6. Inox Wind Ltd., incorporated in the year 2009, is a Small Cap company (having a market cap of Rs 22716.00 Crore) operating in Power sector.

ICICI Lombard General Insurance Company Ltd. rose 0.27 per cent to Rs 1971.4 in Monday's trade as of 10:46AM (IST) even as the benchmark Nifty ruled at 24351.05, down 16.46 points. The scrip had closed at Rs 1965.95 in the previous session. The stock quoted a 52-week low of Rs 1266.0 and a high of Rs 2032.0. The company quoted a market-cap of Rs 97773.86 crore on the BSE.

Info Edge (India) Ltd. with a target price of Rs 7580. The current market price of Info Edge (India) Ltd. is Rs 7176.45. Info Edge (India) Ltd., incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 93344.17 Crore) operating in Services sector.

Biocon with a target price of Rs 385. The current market price of Biocon Ltd. is Rs 336.25. Biocon Ltd., incorporated in the year 1978, is a Large Cap company (having a market cap of Rs 40454.22 Crore) operating in Pharmaceuticals sector.

Axis Bank Ltd.(up 0.99 per cent), HDFC Bank Ltd.(up 0.94 per cent), Kotak Mahindra Bank Ltd.(up 0.52 per cent) and Bank of Baroda(up 0.31 per cent) were among the top gainers.

Siemens Ltd. gained 1.23 per cent to Rs 6967.75 at 10:05AM (IST) in Monday's trade. The counter hit a high of Rs 7045.0 and low of Rs 6760.65 so far during the session. The stock had closed at Rs 6882.85 in the previous session. The counter had a total traded volume of 10:05AM shares so far with a turnover of Rs 8.52 crore on BSE. The stock traded at a price-to-earnings multiple of 98.56 and a price-to-book ratio of 9.99.

Bohra Industries Ltd.(up 4.98%), Coromandel International Ltd.(up 3.09%), Khaitan Chemicals & Fertilizers Ltd.(up 2.63%), Paradeep Phosphates Ltd.(up 2.38%), Mangalore Chemicals & Fertilizers Ltd.(up 1.83%), Chambal Fertilisers & Chemicals Ltd.(up 1.08%), Rama Phosphates Ltd.(up 1.07%), The Fertilisers and Chemicals Travancore Ltd.(up 1.02%), Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 1.00%) and Madras Fertilizers Ltd.(up 0.32%) were among the top gainers.

Havells India Ltd. gained 0.12 per cent to Rs 1801.8 in Monday's trade as of 10:30AM (IST). It hit a high of Rs 1821.0 and low of Rs 1786.15 during the session. The stock quoted a 52-week high price of Rs 1986.55 and a low of Rs 1233.1. The return on equity for the stock stood at 17.07 per cent. About 3,502 shares have changed hands on the counter so far.