A short buildup occurs with rising open interest and volumes, coupled with falling stock prices, indicating bearish expectations. On Tuesday, five stocks saw new short positions.
SBI Life, HDFC Life, Shriram Finance, Bharti Airtel and ICICI Bank were among the top losers on NSE.
Bharti Airtel's shares surged 2% to Rs 1,393.95 on Tuesday after it posted a 158% year-on-year jump in Q1 profit to Rs 4,160 crore, beating market expectations. The company’s revenue rose 3% YoY to Rs 38,506 crore. Both Macquarie and UBS retained their neutral ratings, noting mixed performance metrics and future outlook.
Following Sheikh Hasina's resignation amid widespread protests, experts are concerned about the implications for India. Former Chief of Army Staff Shankar Roychowdhury emphasized the need for caution due to the instability in Bangladesh. Defence expert Dhruv Katoch warned of potential impacts on India's northeast region, while former Ambassador Vidya Bhushan Soni criticized Hasina's overconfidence in handling protests. Former High Commissioner Harsh Shringla noted the possibility of foreign influence... Читать дальше...
The stock quoted a 52-week high of Rs 6442.65 and a 52-week low of Rs 4518.35.
Ahead of the IPO, the company aims to reduce exposure in its primary market of Bengaluru by entering new markets. Bengaluru currently accounts for 95% of Bhive's portfolio.
The 30-share BSE Sensex was up 656.07 points at 79415.47
Congress general secretary in-charge communications Jairam Ramesh shared a media report on X which claimed that India Inc has reported a muted start to the financial year 2024-25, with a decline in net earnings and a modest single-digit uptick in revenues. The temporary boost to corporate profits given by these tailwinds is now receding, and India Inc is dealing with the reality of weak consumer demand growth, he said.
Promoters held 45.25 per cent stake in the company as of 30-Jun-2024, while FII and DII ownership stood at 17.03 per cent and 19.35 per cent, respectively.
The 30-share BSE Sensex was up 543.25 points at 79302.65
A total of 205,393 shares changed hands on the counter till 10:51AM (IST)
The stock quoted a 52-week high price of Rs 4465.0 and a 52-week low of Rs 3060.0.
The Nifty Realty index was trading 1.75 per cent up at 1009.65.
India's logistics sector experienced significant expansion due to digitalisation, infrastructure improvements, and technological progress. Demand rose for mid-career professionals, including transport and supply chain managers. Non-technical roles offered salaries starting at Rs 30 lakh annually. Essential skills included tech proficiency and soft skills, with certifications in logistics fields boosting career opportunities.
We have long been in the camp and I particularly continue to believe this myself that we are going to have what we call a bumpy landing, not necessarily a hard landing, kind of a deep recession of the sort that the US usually has because there are a lot of things at play here that have been quite a bit different than a conventional cycle, not just the fiscal and the public debt, but also that obviously we are coming out of a pandemic, we are coming out of a wartime shock
The Nifty Pharma index was trading 0.87 per cent up at 21770.8.
A long buildup occurs with rising open interest, trading volumes, and stock prices, indicating bullishness. On Tuesday, five stocks saw new long positions.
Market expert Ajay Bagga advised investors to prepare for market volatility but avoid panic selling. He recommended reviewing asset allocation and emphasized not selling Indian equities. Bagga discussed the market impacts of yen carry trade unwinding and speculated on central bank actions, while reaffirming his confidence in India's economic fundamentals.
TDS on government bonds: Budget 2024 imposed a TDS on interest income earned from government bonds. Atul Puri, SW India says, "In a case where TDS is required to be deducted & AO is satisfied that the total income of the recipient justifies deduction of tax at a lower rate or no deduction of tax, the AO shall, on an application made by the Assessee, give him/her such certificate as may be appropriate for lower or Nil deduction of tax."
Unicommerce Esolutions opened its IPO for subscription, presenting an OFS of up to 2.56 crore shares with a price band of Rs 102-108 per share. Analysts recommend this high-priced offering primarily for aggressive investors seeking listing gains. Notably, the company will not receive any proceeds from this IPO as it is entirely an offer for sale.
Bulkcorp International listed its shares on the NSE SME platform at a 24% premium, starting at Rs 130 compared to the Rs 105 issue price. The IPO, involving the sale of 19.78 lakh shares, was highly successful with over 200 times subscription. Raised funds will address capital expenditure and other corporate needs.
The stock quoted a 52-week high price of Rs 340.35 and low of Rs 126.6.
Samvardhana Motherson's shares increased by 5.5% as the company announced plans to join Apple's supply chain in India, partnering with BIEL Crystal Manufactory. They intend to build a new manufacturing facility in Tamil Nadu with an investment of Rs 2,000-2,500 crore. This move is part of Motherson's broader strategy to diversify beyond auto components.
