Stock Market News

5paisa Research Team ||

Tanushree Jaiswal || Gold prices declined on Friday, though they remained on track for a third consecutive weekly increase. This trend follows lower-than-expected U.S. inflation data, which has fueled optimism that the Federal Reserve may begin reducing interest rates in September. Spot gold dipped by 0.2% to $2,408.70 per ounce as of 0148 GMT, after a 2% surge on Thursday. Meanwhile, U.S. gold futures dropped 0.3% to $2,413.90. Check MCX Gold Rate Today Live Thursday's data revealed an unexpected decrease in U.S. consumer prices, with th

Tanushree Jaiswal || Oil prices rebounded on Wednesday after a three-day decline, spurred by an industry report indicating a drop in U.S. crude and fuel stockpiles last week, suggesting steady demand, alongside improved prospects for interest rate cuts. Brent futures climbed 21 cents to $84.87 a barrel by 0055 GMT, following a 1.3% decline in the previous session. Check Crude Oil Price Today U.S. West Texas Intermediate (WTI) crude increased by 26 cents to $81.67 a barrel, after a 1.1% drop in the prior session. WTI had fallen 3% over the

Tanushree Jaiswal || Gold prices increased slightly on Tuesday (July 9), as investors awaited Federal Reserve Chair Jerome Powell’s testimony and June inflation data to determine the US central bank's next policy move. As of 0112 GMT, spot gold had risen by 0.2% to $2,364.03 per ounce, following a decline of over 1% on Monday. US gold futures also saw a 0.3% rise to $2,369.70. Check MCX Gold Price Jerome Powell's testimony before the Senate on Tuesday and the House on Wednesday could provide investors with further insights into the Fed’s

5paisa Research Team || Jio Financial Share Movement of the Day Why Jio Financial Services is in Buzz? Jio Financial Services (JFS), prominent arm of Reliance Industries Ltd, has garnered significant attention in financial markets following its recent quarterly results for Q1 FY25. company's transition from Non-Banking Financial Company (NBFC) to Core Investment Company (CIC), approved by Reserve Bank of India (RBI), has further fueled its momentum. Despite slight dip in net profit, JFS has made strategic strides in busine

Tanushree Jaiswal || The hedge fund iShares MSCI India ETF. As per its 13 F filing, the hedge fund has a long position in the fund with a $17.4 million stake that constitutes around 1.9% of Kingdon's total portfolio. The hedge fund has total assets of $915.77 under management. Kingdon Capital Management, the hedge fund associated with Hindenburg Research and known for short selling Adani Group shares, has only one other India-related investment in its portfolio. Kingdon Capital is a US-based investment management company founded by hedge

Tanushree Jaiswal || Tesla's share price surged over 10% on Tuesday, reaching its highest level since early January, after the electric vehicle (EV) manufacturer reported auto deliveries that exceeded analyst expectations. Tesla shares closed 10.20% higher at $231.26. Tesla, led by billionaire Elon Musk, announced that it delivered approximately 443,950 vehicles worldwide in the April-June period, surpassing Wall Street's average estimate of 439,302 vehicles. Although Tesla's sales during the second quarter were down 4.7% compared to the

Tanushree Jaiswal || Hindenburg Research, an American short-seller, described the Sebi show-cause notice regarding its 2023 report on the Adani Group as ‘nonsense’ and ‘concocted’. “We think it is nonsense, concocted to serve a pre-ordained purpose: an attempt to silence and intimidate those who expose corruption and fraud perpetrated by the most powerful individuals in India,” Hindenburg said in a post on its website. Hindenburg Research criticized the Indian market regulator for omitting Kotak Bank, which it claimed "established and ma

5paisa Research Team || Unicommerce eSolutions IPO - Day 1 Subscription at 2.48 times Unicommerce eSolutions IPO will close on 8 Aug. Shares of Unicommerce eSolutions will likely be listed on 13 August on BSE, NSE. As of 6th Aug 2024, Unicommerce eSolutions IPO received bids for 3,49,51,260 shares much more than the 1,40,84,681 shares offered. This means that Unicommerce eSolutions' IPO was oversubscribed 2.48 times by the end of day 1 Here are the subscription details for Unicommerce eSolutions IPO as of Day 1 (6th August 2024 at 6:49 pm

Tanushree Jaiswal || Tunwal E-Motors IPO Subscription Status on Day-1 at 1.95 Times As of 5.05 pm on 15th July 2024, out of the 186.20 lakh shares on offer in the IPO (excluding the market maker portion), Tunwal E-Motors saw bids for 362.24 lakh shares. This implies an overall subscription of 1.95X at a macro level. The granular break-up of subscriptions as of the close of the first day of the Tunwal E-Motors IPO was as follows: Market Makers (1.00X) HNI / NII (1.03X) Retail (2.86X) Total (1.95X) The su

Tanushree Jaiswal || HCL Tech shares surged nearly 5% following the company's June quarter earnings, prompting several brokerages, including Nomura, Kotak Institutional Equities, and Citi Research, to increase their target prices for the stock. These brokerages noted that HCL Tech's Q1FY25 results were stable and met expectations. They emphasized that continued deal wins and efficient execution are crucial for future growth. As of 9:20 AM IST, HCL Tech share price had risen by 4.3%, trading at ₹1,627, positioning it as the top gainer in t

Tanushree Jaiswal || About Kataria Industries Ltd Kataria Industries Ltd was incorporated in the year 2004 to engage in the manufacture and supply of low-relaxation pre-stressed concrete (LRPC) Strands and Steel Wires. In addition, the company also supplies post-tensioning (PT) anchorage system (including anchor cone, anchor head, and wedges), HDPE Single-Wall Corrugated (SWC) Sheathing Ducts etc. These products are supplied to a range of industries like infrastructure (roads, bridges), railways, atomic reactors, LNG Tanks, power transmissi

Tanushree Jaiswal || Larsen & Toubro (L&T) anticipates $50-$60 billion worth of projects set for execution starting FY25 and plans to make substantial investments in converting oil directly to chemicals (O2C) and petrochemicals. The engineering giant is preparing to capitalize on this opportunity independently but is also keen on forming joint ventures with global engineering, procurement, and construction (EPC) majors for larger projects, according to Subramanian Sarma, the company's president of energy and whole-time director, who

Tanushree Jaiswal || In June, wholesale inflation climbed to a 16-month high of 3.4%, up from 2.6% in the previous month, driven by increased food and manufactured products inflation, according to data released by the government on July 15. "The jump in the WPI inflation to 3.4% in June 2024 was broad-based, and along expected lines, displaying the third consecutive month of a sizeable sequential step up," stated Aditi Nayar, chief economist at Icra. Sequentially, wholesale prices rose by 0.4% from May, with the food index increasing by 2

Tanushree Jaiswal || Avenue Supermarts, the parent company of DMart, reported its earnings for the first quarter of the current fiscal year, with net profit and revenue aligning with market expectations. Investors responded positively, as DMart shares rose over 2% in early trading on July 15. As of 9:20 am IST, DMart share price were trading at ₹5,045.95 on the NSE, up by 2.1% from the previous session's close. Despite the positive earnings report, brokerages largely maintained their ratings on Avenue Supermarts without significant change

Tanushree Jaiswal || On July 15, Zomato shares increased by over 3% to reach a record high of ₹232, following the company's announcement to raise its platform fee from ₹5 to ₹6 in select markets across Delhi and Bengaluru. This fee increase is anticipated to have a mildly positive impact on Zomato's profitability. Zomato share price have surged nearly 20% in the past month. As of 09:18 am IST, the shares were trading at ₹228.62 on the NSE. Zomato's food segment handles approximately 870 million orders annually. An increase of ₹1 in the co

Tanushree Jaiswal || In the first half of 2024, Mutual Funds acquired HDFC Bank shares worth over ₹42,000 crore, even as foreign investors slightly reduced their holdings in India's largest bank by Market Capitalization. In June alone, mutual funds purchased 4.09 crore shares of HDFC Bank, valued at ₹6,887 crore. This marked the sixth consecutive month of substantial buying, with previous monthly acquisitions as follows: May - ₹7,600 crore, April - ₹1,886 crore, March - ₹4,600 crore, February - ₹8,432 crore, and January - ₹12,884 crore. A

Tanushree Jaiswal || According to Ashish Gupta, CIO of Axis MF, the equity supply surge has significantly outpaced mutual fund inflows. In his recent Acumen note, Gupta detailed that around ₹4.84 lakh crore has entered the equity market since April 2022. In contrast, equity mutual funds have received net inflows of just ₹2.21 lakh crore, creating a notable excess in supply. Gupta foresees this trend persisting into the future. A breakdown of the ₹4.84 lakh crore in equity supply reveals ₹1.86 lakh crore from promoter stake sales, ₹1.15 la

Tanushree Jaiswal || The Securities and Exchange Board of India (SEBI) has recently proposed the introduction of hybrid passive funds through a consultation paper. While India already has active hybrid funds in various categories, current regulations mandate that passive funds must be based on either an equity index or a debt index. This has prevented the existence of passive hybrid funds due to the lack of required frameworks. The new proposal aims to allow fund houses to launch passive hybrid products that replicate a composite index compr

Tanushree Jaiswal || Quant Mutual Fund is currently under scrutiny by the Securities and Exchange Board of India (SEBI) for suspected front-running practices. With a substantial ₹93,000 crore of investor assets under management (AUM), the pressing question for investors is whether their investments are at risk. Quant Mutual Fund has experienced a remarkable surge over the past year, with its AUM skyrocketing by 251%, from ₹23,956 crore in May 2023 to a substantial ₹84,030 crore in May 2024. Front-running is an illegal practice where an

Tanushree Jaiswal || Synopsis HDFC Life Insurance's Q1 FY25 net profit increased by 15% year-on-year to ₹479 crore. Additionally, the net premium income for the April-June quarter rose by 9%, reaching ₹12,548 crore, compared to ₹11,508 crore in the same period last year. HDFC Life Insurance Q1 Results Highlights Private sector insurer HDFC Life Insurance reported a 15% year-on-year increase in Q1 FY25 net profit, reaching ₹479 crore, driven by strong growth in both first-year premiums and renewal premiums. This result met Street estim

Tanushree Jaiswal || Alternative Investment Funds (AIFs), through their representative body, are planning to formally request the Securities and Exchange Board of India (SEBI) to permit more flexible fund strategies for accredited investors, including higher derivatives exposure, according to sources familiar with the matter as reported by Moneycontrol. {{ stocks_table('Top Stocks to Buy') }} The Indian Venture and Alternate Capital Association (IVCA) intends to suggest increasing the minimum exposure limit that AIF funds can have to deri

Tanushree Jaiswal || Synopsis Bank of Maharashtra reported a notable increase in its Q1 net profit, which surged by 46.6% to ₹1,293.5 crore. The bank also experienced strong growth in its net interest income (NII), which rose by 20% year-on-year (YoY) to ₹2,799 crore, up from ₹2,340 crore in the same period last year. Bank of Maharashtra Q1 Results Highlights On July 15, Bank of Maharashtra reported a significant increase in its Q1 net profit, which rose by 46.6% to ₹1,293.5 crore, up from ₹882 crore in the same period last year, accor

Tanushree Jaiswal || Swiggy and Zomato have both increased their platform fees to ₹6 per order in an effort to boost profitability. This marks a 20% hike from the previous ₹5 fee and is being initially implemented in Bengaluru and Delhi. The platform fee is separate from delivery fees, taxes, restaurant charges, and handling fees. This fee applies to all food orders, including those made by customers who are part of loyalty or membership programs, and the revenue generated from this fee goes directly to the companies, aiding in cost control

Tanushree Jaiswal || The Indian rupee is expected to reach a record low at the opening on Wednesday, ahead of significant U.S. inflation data and new interest rate projections from Federal Reserve officials. Non-deliverable forwards suggest the rupee will start trading at 83.58-83.60 to the U.S. dollar, down from 83.5650 in the previous session and surpassing the all-time low of 83.5750 set in April. On Tuesday, the rupee fell below the long-standing support level of 83.50-83.55. The rupee has faced challenging days recently. Weighed down by

Tanushree Jaiswal || The Foreign Exchange Derivatives market in India is undergoing a substantial disruption on April 5, due to the implementation of newly announced regulations by the Reserve Bank of India (RBI). It is anticipated that the implementation of these regulations, which mandate an underlying foreign-exchange exposure for currency derivatives trading on stock exchanges, will significantly affect the market, specifically affecting retail traders and speculators, who make up a substantial proportion of the participants. To comply w

Tanushree Jaiswal || In a rather low-profile move, the RBI has decided to officially withdraw the ₹2,000 notes from the currency circulation. This will be effective from 30th September 2023. Between March 23, 2023 and September 30, 2023, the RBI will offer a special window for the people holding these ₹2,000 currency notes to either exchange their notes or deposit these notes into the bank account. Banks will offer this window only up to September end and after that the ₹2,000 note cannot be either exchanged or even deposited in any of the comm

5paisa Research Team || The Indian rupee is going through its worst crisis yet. On Tuesday, it sunk to its lowest yet, going below the psychologically crucial mark of 80 to the US dollar. The rupee went as low as 80.05 to the dollar, before it was helped back up by some intervention from the country’s central bank. The Reserve Bank of India pumped some US dollars into the currency markets to steady the currency slightly after it went down for the seventh consecutive trading session. Is the Indian rupee the only one that has been falling

Tanushree Jaiswal || Due to subdued demand and pricing pressures, the cement industry is anticipated to report modest revenue and profit growth for the quarter ending June 2024. Analysts suggest that factors such as general elections, labor shortages, extreme heat waves, and timely monsoons may lead to weakened cement demand. Overall, the competition for market share is expected to keep margins under pressure during the quarter. According to an analysis by Sharekhan, the sector's sales volume growth is projected to remain sluggish at 4.5% Yo

Tanushree Jaiswal || Shares of solar related stocks surged by up to 5% today following the announcement by Union Finance Minister Nirmala Sitharaman. During the presentation of the interim budget for the fiscal year 2024-2025, she unveiled the "Pradhanmantri Suryodaya Yojana," proposing assistance for installing rooftop solar systems in 1 crore households. Under the initiative, rooftop solarization aims to provide up to 300 units of free electricity every month to one crore households. Finance Minister Sitharaman emphasized that this move al

Tanushree Jaiswal || In her recent interim Budget presentation, Union Finance Minister Nirmala Sitharaman announced that there would be no alterations to direct and indirect tax rates, including import duties for the fiscal year 2024-25. Sitharaman highlighted the government's commitment to maintaining stability in taxation and shared positive news on reduced refund processing times. The Finance Minister highlights a reduction in the average refund processing time, from 93 days in 2013-2014 to just 10 days in the latest fiscal year. Durin

Tanushree Jaiswal || To boost India's agriculture sector, Finance Minister Nirmala Sitharaman announced the expansion of Nano DAP (Liquid) application across all agro-climatic zones. This has sparked a positive response in the stock market, with notable gains in fertiliser stocks. Nano DAP Composition and Benefits Following the announcement, key players in the fertiliser industry witnessed a surge in their stock prices. Coromandel International shares rose by 1.5%, while Gujarat Narmada Valley Fertilisers & Chemicals (GNFC) recovered