Garuda Construction's IPO debuts today with expected flat to negative listing; strong retail investor demand led to a 7.5x subscription. Despite a revenue and profit dip in FY24 due to election impacts, the company boasts a strong order book and superior return on net worth.
The U.S. has issued a stern warning to Iran to halt any plans to target former President Donald Trump, stating any such attempt would be considered an act of war. Regular briefings have informed President Biden, who has directed warnings and protective measures be enhanced for Trump's safety amid ongoing threats.
The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock
Shiv Texchem's shares debut on the BSE SME platform today. The stock is expected to list at a 39% premium over the issue price. Shiv Texchem imports and distributes essential chemicals for industries like paints, coatings, and agrochemicals. Net proceeds will support working capital and corporate purposes. India is a significant consumer of chemicals and petrochemical products.
Pondy Oxides and Chemicals announced a 2:1 stock split with October 16 as the record date, meaning today is the last chance to buy shares to benefit from the split. Each Rs 10 share will be divided into two Rs 5 shares. The company's stock has surged significantly over the past year.
Angel One Share Price: Angel One reports a stellar Q2FY25 with a 39% rise in net profit to Rs 423 crore and a 44.5% growth in total revenue from operations to Rs 1,515 crore. The brokerage also added 30 lakh clients, boosting its client base to 27.5 million.
HCL Tech Share Price: HCL Technologies' shares are set to stay in focus after reporting strong Q2FY25 results, with a 10.5% rise in net profit to Rs 4,235 crore and an 8.2% revenue increase to Rs 28,862 crore. An interim dividend of Rs 12 per share was declared, with a record date of October 22, 2024.
RIL Share Price: Reliance Industries Ltd's Q2 profits fell by 5%, mainly due to a 23% decline in operating profit in the oil-to-chemicals segment. Despite a muted performance in retail, digital services showed strong growth with a 7% rise in ARPU and a 23% increase in net profit.
U.S. officials are considering restricting sales of advanced AI chips by Nvidia and other American companies on a country-specific basis, particularly targeting Persian Gulf countries. This move aims to set export license ceilings for national security and follows recent rule changes easing AI chip shipments to Middle Eastern data centers.
Federal Reserve Governor Christopher Waller calls for a more cautious approach to interest-rate cuts, citing recent economic data showing strong U.S. economy and labor market. Waller highlights the importance of gradual rate reductions while monitoring inflation, labor market, and economic activity data. He anticipates job growth moderation and potentially maintaining historically low unemployment rates.
Wipro has introduced a new hybrid work policy requiring employees to work from the office three days a week. The policy focuses on a balanced work environment, fostering collaboration, flexibility, and trust. Employees can select their in-office days and work remotely on specified days, supporting personal well-being and caregiving responsibilities.
Central banks continue to value gold for diversifying reserves, despite price rallies and a slowdown in Chinese purchases. The Czech Republic, Mongolia, and Mexico affirm gold's significance for stability and diversification, storing mainly in London, with Mongolia considering some repatriation.
In June, Nvidia briefly became the world's most valuable company. It was overtaken by Microsoft, and the tech trio's market capitalizations have been neck-and-neck for several months.
Twelve stocks including Chambal Fertilizers, GNFC, and Granules India are under F&O trade ban, as their open interest exceeds 95% of MWPL. The ban will lift once the interest drops below 80%. Meanwhile, Indian stock indices closed higher, with Nifty surging 0.7% and Sensex up 0.73%.
Auto manufacturers at the Paris Motor Show are unveiling more affordable and tech-rich electric vehicles. Chinese firms like Leapmotor and XPeng showcased new models despite potential EU tariffs. Small EVs for teens and adults without licenses are growing in popularity. Citroen and Renault are among the European manufacturers highlighting these vehicles.
Bengaluru will experience heavy rains throughout the week, with substantial downpours from October 14 to October 17. The IMD has issued a yellow alert for some parts of Karnataka, including Bangalore Rural and Urban, Chikkaballapura, and Mysuru. Coastal Karnataka and South Interior Karnataka will also face heavy rains, potentially leading to local disruptions.
Benchmark BSE Sensex surged nearly 592 points, with Nifty reclaiming the 25,000 level amid a strong global trend. Highlighted stocks include RIL, HCL Tech, and HDFC Life, each showing varied performances and trends. Experts advise cautious trading, focusing on technical indicators and price action before making decisions.
Gold prices remained steady as traders anticipated new signals from the Federal Reserve regarding U.S. interest rate cuts. Fed Governor Christopher Waller called for caution on rate reductions, while President Neel Kashkari indicated potential further cuts. Investors are also eyeing upcoming U.S. economic data.
Oil prices dropped by around $2 in early Asian trade on Tuesday after OPEC reduced its forecast for global oil demand growth in the coming years. Additionally, reports indicated that Israel is willing to target Iranian military sites, excluding nuclear and oil facilities. Brent and U.S. crude futures fell significantly.
Wall Street closed higher on Monday, with the S&P 500 and Dow hitting record highs, as investors bought tech stocks ahead of corporate earnings reports. Technology and semiconductor companies led gains, while investors looked forward to crucial economic data and company earning reports later in the week.
Canada's Prime Minister Justin Trudeau has shared intelligence with Five Eyes partners on alleged Indian involvement in the killing of a Canadian national. India denies accusations, expels Canadian diplomats, and criticizes Trudeau's stance. Diplomatic tensions escalated, with both nations taking retaliatory measures amid serious allegations.
