Nuvama upgraded United Spirits to buy, raising target price to Rs 1,630 from Rs 1,195, citing strong cost controls and healthy margins. Reasons include margin outperformance, growth potential in premium categories, upcoming festive season, H2 demand recovery, Karnataka tax benefits, Andhra policy changes, and potential India-UK FTA.
Missouri State Treasurer Vivek Malek's push to divest from Chinese companies has made the state one of the first to do so. Now, Malek is emphasizing this stance in his reelection campaign against Republican challengers, reflecting a broader opposition to financial ties with China among U.S. candidates.
As of 30-Jun-2024, promoters held 63.01 per cent stake in the company, while FIIs held 22.42 per cent and domestic institutional investors had 5.89 per cent.
The 30-share BSE Sensex was down 455.14 points at 79693.74
Tata Motors shares surged nearly 4% on Thursday, reaching a new 52-week high of Rs 1,067 on BSE. This followed Nomura's upgrade of the Nifty stock to buy, setting a target price of Rs 1,294. Nomura cited Tata Motors' shift from premium to luxury vehicles as key to maintaining competitiveness in challenging segments.
A total of 59,516 shares changed hands on the counter till 10:15AM (IST)
Russia commenced its first oil shipment of the year via the Northern Sea Route to China, typically used only in summer.
Aprameya Engineering's SME IPO seeks to raise Rs 29.23 crore through a fresh equity issue of 50.4 lakh shares. Offered at Rs 56-58 per share, the subscriptions end on July 29. The company specializes in setting up intensive care units and supplying medical equipment, targeting incremental working capital and general corporate purposes.
The Nifty Realty index was trading 0.59 per cent down at 1067.9.
A total of 98,502 shares changed hands on the counter till 10:10AM (IST)
Trom Industries' SME IPO opened for subscription on July 25 and will close on July 29. The solar EPC company aims to raise Rs 31.31 crore by offering 27.27 lakh shares at Rs 100-115 each. Shares will list on August 1, with a significant premium observed in the unlisted market. Funds will support capital and working capital needs.
The Nifty Pharma index was trading 0.63 per cent down at 20776.45.
The Himachal Pradesh High Court has directed BJP Lok Sabha member Kangana Ranaut to set aside her election due to a petition filed by a Kinnaur resident, Layak Ram Negi, alleging that his nomination papers were wrongly rejected by the returning officer. Negi, an ex-employee, argued that he could have won the election had his papers been accepted and demanded the election be set aside.
Gilt funds are debt mutual funds that invest in government-securities or G-secs. As per Sebi norms, these schemes must invest 80% of their corpus in government securities. As you see, these schemes invest in government papers or they lend to the government. Therefore, they don’t have any credit risk or they face zero defaults. However, they are extremely sensitive to interest rate changes.
A total of 15,145 shares changed hands on the counter till 10:05AM (IST)
President Joe Biden, in a significant Oval Office address, announced his decision to withdraw from the 2024 presidential race and endorsed Kamala Harris as the Democratic nominee. His focus was on national unity and safeguarding democracy. Former President Barack Obama praised Biden's lifelong dedication to public service and nation.
As of 30-Jun-2024, promoters held 0.79 per cent stake in the company, while FIIs held 15.1 per cent and domestic institutional investors had 11.86 per cent.
Emami Ltd surged over 90% to break a 9-year consolidation, hitting a fresh high of Rs 844. Experts suggest further gains with a target above 900. The stock shows strong bullish trends, trading above key moving averages and indicators. Recommended stop loss is set at 730 on a closing basis.
Delhi Traffic Police have issued advisories due to the Kanwar Yatra and recent heavy rains causing significant congestion and waterlogging across the city. Motorists are advised to plan their journeys carefully, follow traffic rules, and use alternate routes to minimize delays. The movement of Kanwariyas and rain-induced waterlogging have led to multiple diversions and traffic disruptions.
JM Financial is optimistic about sectors post Union Budget 2024-25, foreseeing positive impacts on FMCG, consumer durables, real estate, BFSI, and IT services, with stock recommendations provided.
Budget coaltion parties: India's Budget for this fiscal year focused on fiscal prudence with record capex allocation and major tax changes. It allocated funds to Andhra Pradesh and Bihar, key allies of the ruling party. Opposition criticised the Budget as 'discriminatory.' However, Finance Minister Nirmala Sitharaman defended it as honoring commitments and addressing long-standing issues. Unemployment measures were highlighted as non-political. Opposition's claims of lack of funds for certain states were dismissed as misleading by Sitharaman.
Axis Bank's shares declined by 5.8% in early trading on Thursday, dropping to a day's low of Rs 1,168.25 following its announcement of a lower-than-expected net profit of Rs 6,035 crore for the quarter ended June 30, 2024. The profit showed a 4% increase compared to Rs 5,797 crore reported in the year-ago period.
Deputy Chief of Air Staff Air Marshal Ashutosh Dixit visited DRDO, HAL, and TASL in Hyderabad from July 23-24. He interacted with key officials, praised indigenization efforts, and granted production clearance for ASTRA missiles at DRDL. He also reviewed avionics indigenization at HAL and inspected the C-295 aircraft production line at TASL. ASTRA, a Beyond Visual Range Air-to-Air Missile, enhances fighter aircraft capabilities. On July 24, DRDO successfully tested Phase II of the Ballistic Missile Defence System... Читать дальше...
Suzlon Energy Ltd. key Products/Revenue Segments include Wind Turbine Generator, Sale of services, Other Operating Revenue, Scrap for the year ending 31-Mar-2023.
