REC Ltd has doubled investors' wealth in the past year despite recent consolidation. Experts suggest buying on dips or if the stock holds above its 50-DMA, with a near-term target of Rs 680. The stock shows stability above key support levels and indicators suggest potential for further gains.
The Nifty IT index was trading 0.03 per cent down at 42631.05.
Tata Motor Share Price: Shares of Tata Motors fell 5.4% to 980.10 on the BSE after announcing price cuts of up to Rs 2.05 lakh on EVs and popular cars, signaling weak growth prospects. UBS responded with a 'sell' rating and a target price of Rs 825. The price cuts, part of the ‘Festival of Cars’ promotion, come amid a significant inventory buildup and a 4.5% decline in dealer sales in August, marking the third drop this financial year.
Gold and silver futures opened higher on Wednesday, with gold at Rs 72,028 per 10 grams and silver at Rs 84,114 per kilogram. Prices have shown significant volatility ahead of U.S. CPI data and the ECB monetary policy meeting.
Hizb ut Tahrir has urged Bangladesh's interim government to lift the ban imposed on it in 2009 by Sheikh Hasina's administration. This demand follows the release of several terrorist leaders and radicals. The group seeks a similar approach to the one used for Jamaat-e-Islami, whose ban was recently lifted.
As of September 10, there was a notable surge in futures open interest for six stocks in the NSE F&O pack, contributing to a total increase in open interest of over 6% as compared to the previous trade.
Excellent Wires and Packaging will launch its SME IPO, aiming to raise Rs 12.6 crore through a fresh equity issue of 14 lakh shares at Rs 90 each. The subscription will close on September 13, with the shares expected to list on the NSE SME platform by September 18.
Delhi experienced a cloudy sky and light rainfall on Wednesday morning, with the Indian Meteorological Department issuing a yellow alert for more rains until Friday. The weather may cause waterlogging in low-lying areas, leading to traffic disruptions. Heavy rains earlier this week also caused severe waterlogging in Ajmer, Rajasthan, affecting key routes and resulting in traffic congestion.
Innomet Advanced Materials has launched its SME IPO, aiming to raise Rs 34 crore through a fresh equity issue of 34.23 lakh shares at Rs 100 each. The subscription period is from September 11 to September 13, with the shares expected to list on the NSE SME platform on September 18.
US Vice President Kamala Harris accused Republican presidential election rival Donald Trump of seeking to divide Americans by inflaming racial tensions as the pair locked horns in a high-stakes debate Tuesday. "I think it's a tragedy that we have someone who wants to be president who has consistently, over the course of his career, attempted to use race to divide the American people," she said. ft/st
Oil prices steadied after a sharp selloff drove Brent crude below $70 a barrel for the first time in over two years. Concerns about slowing growth in the US and China, along with robust supplies, have led to a nearly 20% drop this quarter. OPEC+ postponed an output hike amid fears of surplus in 2025.
Stock Market News: Domestic equity indices Sensex and Nifty opened slightly lower on Wednesday, reflecting global market trends. Investors are awaiting key US inflation data, which could influence the Federal Reserve's rate decision. The CPI report is expected to show inflation nearing the Fed's 2% target, potentially leading to a significant rate cut next week.
On September 10, four stocks from the Nifty200 pack came to the bullish scanner of "White Marubozu", according to stockedge.com's technical scan data.
Larsen & Toubro Ltd. plans to invest over $300 million in a fabless chip company, aiming to design 15 products by year-end and start sales in 2027. This move aligns with India's push to boost local semiconductor capacity and reduce imports, supported by government subsidies.
CLSA maintains a hold rating on Infosys with a target price of Rs 1,747. The company's outlook for the rest of FY25 remains stable, with continued demand tailwinds in certain BFSI sectors but some headwinds from the EU auto sector. CLSA notes that demand uncertainty around macro issues is diminishing. Infosys is positioned well for a potential revival in discretionary demand in FY26.
The Nifty Index traded positively near the 25,000 mark on Tuesday, recovering from a slight dip. It closed with gains of around 100 points, forming a small bullish candle. Traders are advised to hold above 25,000 zones for an up move towards 25,200-25,300 zones. Volatility has been cooling off.
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.
In the options market, the highest Call open interest is positioned at the 26,000 strike, followed by the 25,100 strike, while the maximum Put open interest is at the 25,000 strike, and then at the 24,600 strike. Call writing is observed at the 25,100 and 25,050 strikes, whereas Put writing is taking place at the 25,000 and 24,600 strikes.
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.
Incumbent President Ranil Wickremasinghe is fighting an uphill battle. However, can still close the gap and win the polls in the second preference vote. Mahinda Rajapaksa’s son Namal is the other main contender, but may not stand a chance in this election, according to observers of Lankan elections.
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.
Cyient DLM Ltd., incorporated in the year 1993, is a Small Cap company (having a market cap of Rs 5553.01 Crore) operating in General sector.
Avalon Technologies Ltd. key Products/Revenue Segments include Printed Circuit Boards, Sale of services and Scrap for the year ending 31-Mar-2024.
Uber is set to launch its premium service, Uber Black, in Mumbai next week. The service will feature high-end cars and top-rated drivers, offering amenities like quiet mode and temperature control. This move aims to cater to Indian consumers' growing demand for premium experiences.
