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Sensex Today | Share Market Live Updates: Sensex, Nifty turn flat; Metal gains


10 Nov 2023, 01:42 PM IST
Sensex Today Live: Protean eGov Technologies Limited IPO allotment declared

Share allocation for the initial public offering (IPO) of Protean eGov Technologies Limited has been finalised. Those who have applied for the public offer worth 490.33 crore, can check Protean IPO allotment status online by logging in at the BSE website — bseindia.com or at the website of official registrar of the public offer. In the wake of T+3 schedule after closure of public issue, Protean eGov Technologies Lmited IPO listing date is most likely on 13th November 2023 i.e. on Monday next week. (Read More)

10 Nov 2023, 01:28 PM IST
Sensex Today: Piyush Goyal to visit US next week for Indo-Pacific Economic Framework, Asia-Pacific Economic Cooperation engagements

Union Commerce Minister Piyush Goyal is set to visit San Francisco in the US from November 13-16 to attend various official engagements of the Indo-Pacific Economic Framework (IPEF) and the Asia-Pacific Economic Cooperation (APEC).

As per a release from his Ministry of Commerce and Industry on Friday, Goyal will also interact with eminent businesspeople, prominent academics, US officials and industry leaders during the visit to further strengthen the economic and commercial relations partnership between the two nations.

The Commerce and Industry Minister will participate in the third in-person IPEF Ministerial meeting from November 13-14, 2023, which is likely to see significant updates on the progress of negotiations. (ANI)

10 Nov 2023, 01:16 PM IST
Sensex Today Live: ED attaches properties worth ₹24 crore of Hero MotoCorp CEO Pawan Munjal

ED on Friday seized a few properties worth 24.95 crore of Pawan Munjal, CMD of Hero MotoCorp, in Delhi. The probe agency attached three immovable properties located in the national capital under the provisions of the Prevention of Money Laundering Act, 2002 belonging to Munjal.

According to a press statement by the anti-money laundering agency, ED officials initiated the investigation on the basis of a “Prosecution Complaint filed by Directorate of Revenue Intelligence (DRI) u/s 135 of the Customs Act, 1962 against P K Munjal, Chairman and CMD of M/s Hero Motocorp and others for taking foreign exchange/currency out of India illegally”. (Read More)

10 Nov 2023, 01:12 PM IST
Sensex Today Live | Share Market Updates: eClerx reports 11% Y-o-Y operational revenue growth and higher profitability.

eClerx Services recorded a healthy 11.0% Y-o-Y growth despite significant headwinds in key international markets. The company achieved 6.2% increase in this key performance metric which stood at USD 82.5 million in the corresponding period last year. Total revenue including other income for Q2FY24 grew to INR 735.9 crore, registering a 9.7% Y-o-Y growth as compared with INR 671.2 crore in Q2FY23.

⦁ Earnings before interest and taxes (EBIT) for the period stood at INR 188.6 crore, compared with INR 174.9 crore in Q2FY23 and growing by 7.8% on a Y-o-Y basis.

⦁ Net Profit came in at INR 136.0 crore for the quarter ended September 30, 2023, a 8.0% Y-o-Y growth compared with INR 125.9 crore for the corresponding period in the previous financial year.

⦁ Basic earnings per share (EPS) for Q2FY24 increased to INR 28.2 from INR 25.3 (adjusted for bonus) in Q2FY23, a 11.5% jump in the company’s profitability and value accrued for its shareholders.

10 Nov 2023, 01:04 PM IST
Sensex Today: CarTrade Tech stock jumps over 14% to 52-week high on robust Q2 earnings

CarTrade Tech, a multi-channel auto platform provider, experienced a significant surge in its share price, climbing over 14% to reach a new 52-week high in today’s trade following the announcement of the company’s Q2FY24 earnings.

In the Q2FY24 earnings report released after market hours on Thursday, CarTrade Tech reported a net profit of 12.97 crore, reflecting a remarkable 130% increase from the net profit of 5.58 crore posted in the same period of the previous year. The company’s net revenue for the quarter reached 147 crore, marking a substantial 44% growth compared to the 102.49 crore generated in Q2 FY23. (Read More)

10 Nov 2023, 12:57 PM IST
Sensex Today Live: M&M Q2 Results: Net profit jumps 67% to ₹3,452 crore; revenue rises 16% YoY

Mahindra & Mahindra Ltd reported a standalone net profit of 3,451.88 crore in the second quarter of FY24, registering a sharp growth of 66.9% from 2,068 crore in the corresponding quarter of last fiscal.

The automobile major’s standalone revenue from operations in Q2FY24 rose 15.7% to 24,309.89 crore from 21,010.13 crore, YoY. (Read More)

10 Nov 2023, 12:42 PM IST
Sensex Today: PL Stock Report: Nazara Technologies (NAZARA IN) – Q2FY24 Result Update – Capital allocation key to re-rating – HOLD

Jinesh Joshi – Research Analyst, Prabhudas Lilladher Pvt Ltd. views on Nazara Technologies (NAZARA IN)

Rating: HOLD | CMP: Rs820 | TP: Rs840

Q2FY24 Result Update – Capital allocation key to re-rating

Quick Pointers:

§ Post recent fund infusion, cash on books stands at Rs13.3bn (22% of market cap).

We cut our FY24E-FY26E EBITDA estimates by ~3-4%, amid persistent weakness in Kiddopia and Ad-Tech business. Despite downgrade at operating level, our FY24/25E EPS estimates have witnessed an upgrade of 14%/6% as we raise our other income assumptions and re-align our tax rate for FY24E given write back during the quarter. Nazara’s operational performance was broadly in-line with our estimate with EBITDA margin of 9.4% (PLe 8.3%) while PAT beat was driven by tax credit of Rs13mn (PLe tax outgo of Rs47mn) arising from demerging of the fantasy sports business of Halaplay into OpenPlay. Despite ongoing challenges in Ad-Tech (loss of a large client), Kiddopia (stagnant subscriber base) and Real Money Gaming (GST levy of 28% on full bet value), return of BGMI and strong traction in SportsKeeda is likely to drive Sales/EBITDA CAGR of 17%/34% over FY23-FY26E. Retain ‘HOLD’ rating on the stock with a DCF based TP of Rs840 (earlier Rs836). Post recent fund raise, Nazara has cash balance of Rs13.3bn (cash per share of Rs183 on diluted equity base) and we believe capital allocation decisions from hereon will be a key to re-rating.

10 Nov 2023, 12:34 PM IST
Sensex Today Live: Auto Sales: 2,621,248 vehicles sold in October 2023, highest ever sales in the month for PVs, says SIAM

The Society of Indian Automobile Manufacturers (SIAM) released performance figures for the auto industry in October 2023 on November 10.

According to SIAM data, the total production of Passenger Vehicles, Three-wheelers, Two-wheelers, and Quadricycles in October 2023 reached 2,621,248 units. Notably, the Passenger Vehicles segment demonstrated a remarkable year-on-year (YoY) growth of 15.9%, achieving a record milestone for the sector. (Read More)

10 Nov 2023, 12:24 PM IST
Sensex Today Live | Share Market Updates: US, China reach ‘understandings’ on climate ahead of COP28 talks -Kerry

The United States and China have reached “understandings and agreements” on climate issues that will help ensure progress is made at the COP28 talks starting late this month in Dubai, U.S. climate envoy John Kerry said on Friday.

Kerry met with his Chinese counterpart Xie Zhenhua at Sunnylands, California, this week for four days of talks he described as tough and serious.

“We had a few moments where, as in any negotiation, you think it’s all despair,” Kerry said at the Bloomberg New Economy Forum in Singapore. “We did come up with some very solid understandings and agreements which will help the COP and will also put us both in a place where we can help the world by focusing on more renewables and other kinds of things,” he said. (Reuters)

10 Nov 2023, 12:22 PM IST
Sensex Live: Mid-market comment by Shrey Jain, Founder and CEO SAS Online – a Deep Discount Broker

Shrey Jain, Founder and CEO SAS Online: The Indian stock market began Friday on a downward trajectory, impacted by negative global signals. Both the Sensex and Nifty saw losses, with a decline of 100 and 30 points, respectively. Almost all sectors opened broadly in red.

At present, the Nifty is trading well below the critical 19500 level, which acts as a strong resistance point. The highest Open Interest (OI) is concentrated at this level, while support is noticeable at 19300 and 19250. Talking about Bank Nifty, it’s currently moving in the range of 43,550-43,900, signaling a possible sideways trend.

Despite the market fluctuations, the Indian economy remains robust, suggesting a probable timely correction. Let’s wait and see how global issues play out.

10 Nov 2023, 12:01 PM IST
Sensex at Noon: Indices remain marginally in red throughout session with IT, Auto and Finance dragging; Realty shines

10 Nov 2023, 11:54 AM IST
Sensex Live: StoxBox Banknifty Outlook for today: Technically, 43,200 acts as a major support mark, with 44200 staying as a barrier for upcoming sessions

Avdhut Bagkar, Derivatives & Technical Analyst, StoxBox Banknifty Outlook for today: Despite the market opening on a negative note, Bank Nifty is emphasizing a positive recovery with 43600 PE and 43500 PE witnessing robust writing post early hour session.

A sustained move over 43600 shall see more short covering, resulting index to rally in the direction of 43800. PCR stands at 1.03 implying volatile activity in the derivatives trading.

Technically, 43,200 acts as a major support mark, with 44200 staying as a barrier for upcoming sessions.

10 Nov 2023, 11:54 AM IST
Sensex Today Live | Share Market Updates: India sees brisk gold sales on pre-Diwali Dhanteras festival

Pre-Diwali Dhanteras buying of gold and silver in India, the world’s largest gold consumer, kick-started on a positive note on Friday on the recovery of consumer demand with the softening of gold prices.

Gold prices have fallen by 800-1,500 per 10 gram (24 carat) from the peak 63,000 level on October 28 and this has evoked buying on Dhanteras, considered the most auspicious day in the Hindu calendar for buying items ranging from precious metals to utensils, with traders expecting gold sales to surpass last year’s level.

On Thursday, Gold prices plunged 400 to 60,950 per 10 grams in the national capital.

Gold prices in Delhi were ruling at 50,139 per ten grams, excluding taxes, on 2022 Dhanteras day. In normal years, about 20-30 tonnes of gold are sold on a Dhanteras day. (PTI)

10 Nov 2023, 11:46 AM IST
Sensex Today Live: Adani Ports share price gains as analysts maintain bullish stance after Q2 results

Adani Ports and Special Economic Zone (APSEZ) witnessed a rise of over 1% in its share price on Friday as analysts maintained a bullish outlook on the stock following the decent earnings growth reported for the second quarter of FY24.

In Q2FY24, APSEZ reported a 4.2% increase in net profit, reaching 1,747.8 crore compared to 1,677.5 crore in the same period the previous year. The company’s revenue from operations for the quarter ending September 2023 amounted to 6,646.6 crore, marking a robust growth of 27.6% from 5,210.8 crore in the corresponding period last year. (Read More)

10 Nov 2023, 11:31 AM IST
Sensex Today Live | Share Market Updates: Japan Prepares $13 Billion to Support Country’s Chip Sector

Japan’s Economy Ministry is preparing a total ¥2 trillion ($13 billion) in subsidies to drive investment in its chip industry in a bid to regain its status as a major semiconductor power.

The Ministry of Economy, Trade and Industry is seeking ¥1.85 trillion in an extra budget, on top of as-yet-unspent money for chip-related subsidies. Bloomberg earlier reported that Japan’s plans to allocate money to boost capacity to make and secure chips at home.

As part of a broader blueprint to revive the economy, Tokyo is trying to entice investment in the production of cutting-edge semiconductors critical to future technologies from AI to self-driving cars. That includes billions of dollars to support Taiwan Semiconductor Manufacturing Co., the industry leader in advanced chip production, and for Rapidus Corp., a local startup that aims to compete in high-end chip production. (Bloomberg)

10 Nov 2023, 11:25 AM IST
Sensex Today Live: United Spirits share price plunges 7%; brokerages express mixed views post Q2 result

United Spirits witnessed a nearly 7% decline in its share price during morning trade on BSE on Friday, November 10. Investors were observed selling off shares of the company following the release of its September quarter earnings, which indicated a substantial year-on-year (YoY) decrease in both standalone revenue and profit.

According to an exchange filing on Wednesday, November 8, United Spirits reported that its standalone revenue from operations experienced an almost 19% YoY decline, amounting to 6,733.8 crore. In the same quarter the previous year, the company’s revenue from operations stood at 8,275.9 crore. (Read More)

10 Nov 2023, 11:18 AM IST
Sensex Today Live | Share Market Updates: ESAF Small Finance Bank shares debut with nearly 20 pc premium

Shares of ESAF Small Finance Bank on Friday listed with a premium of nearly 20 per cent against the issue price of 60.

The stock made its debut at 71.90, rallying 19.83 per cent from the issue price on the BSE. It later jumped 24.5 per cent to 74.70.

At the NSE, shares of the company began the trade at 71, up 18.33 per cent.

The company commanded a market valuation of 3,685.82 crore during the morning trade.

The Initial Public Offering (IPO) of ESAF Small Finance Bank was subscribed 73.15 times on the last day of subscription on Tuesday. (PTI)

10 Nov 2023, 11:14 AM IST
Sensex Today: Titan drags in today’s session as it sheds more than 1% and is among the biggest laggards

10 Nov 2023, 11:12 AM IST
Sensex Today Live: Rupee trades flat at 83.28 against the US dollar in early trade

The Indian rupee traded flat against the US dollar in early trade on Friday amid a weak American currency and softening crude oil prices. The local currency opened flat at 83.28 a dollar, similar to its previous close.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading lower by 0.04% at 105.86.

On Thursday, the rupee closed 1 paise lower at 83.28 against the American currency. (Read More)

10 Nov 2023, 10:43 AM IST
JM Financial views on Samvardhana Motherson International (MOTHERSO IN) | WIP Qtr; Growth momentum is expected to remain strong

Vivek Kumar of JM Financial views on Samvardhana Motherson International (MOTHERSO IN) | WIP Qtr; Growth momentum is expected to remain strong

Result Update BUY INR 130 

In 2QFY24, SAMIL reported consol. EBITDA margin of 8.0%, 90bps below JMFe. Lower automotive production in EU (owing to summer holidays) and US (labour strike) led to negative operating leverage and unfavourable mix. With the recovery in automotive volumes in 2H, we expect growth momentum to continue going ahead. Order book continues to grow with share of EVs forming ~22% of booked business (USD 77+bn). Acquisitions have started coming through and the company indicated of strong pipeline. Increase in debt is a temporary phenomenon owing to acqs. and increase in capex and is expected to normalise going ahead. We believe the company with its global presence, an expanding product portfolio and a wide customer base presents a multi-year growth opportunity. We expect revenue/EPS CAGR of 18%/48% over FY23-26E. We maintain BUY rating with a Sept’24 TP of INR 130 (18x FY25e EPS). Slowdown in global demand remains a key risk.

 

10 Nov 2023, 10:32 AM IST
Sensex Today Live | Share Market Updates: Meta faces US lawsuit over alleged disregard for user mental health on Instagram

Mark Zuckerberg is facing a lawsuit filed by the US state of Massachusetts, over allegations that his company Meta “dismissed concerns” around Instagram’s negative effects on users’ mental health, ABC News reported.

The lawsuit was filed in the Suffolk Superior Court on November 5. It found that Meta’s leadership had in 2019 suggested that filters for plastic surgery be disabled on Facebook and Instagram due to the negative impact on young users – especially women, it added. (Read More)

10 Nov 2023, 10:19 AM IST
Sensex Today: Force Motors shares hit 5% upper circuit limit as net profit grows 395% in Q2

Force Motors, the flagship company of the Abhay Firodia group, witnessed its shares surge to the 5% upper circuit limit, reaching 4,053.25 per share during early trading on Friday. This significant increase was driven by positive investor response to the company’s Q2FY24 performance, which was disclosed after market hours on Thursday.

During the July-September quarter of FY24, the company declared a net profit of 94 crore, showcasing a notable improvement from the 19 crore net profit reported in the corresponding period last year, representing a substantial 395% year-on-year growth. (Read More)

10 Nov 2023, 10:07 AM IST
Sensex Today Live: Muthoot Finance Q2 results: 18% rise in standalone profit YoY at ₹ 1,966 Crores

Muthoot Finance Q2 FY24 Performance highlights for half year ended September 30, 2023

Increase in Consolidated Loan Portfolio: 24% YoY at 79,493 Crores

Highest Ever Gross Gold Loan Advance in any 1st Half of a Year: 84,742 Crores

Highest Ever Gold Loan Advance to New Customers in any 1st Half of a Year: 8,109 Crores

Highest Ever Gold Loan Portfolio Growth in 1st Half of a Year: 5,642 Crores

Increase in Gold Loan Portfolio: 20% YoY at 11,016 Crores

All-Time High Interest Collection in any Half Year: 5,447 Crores

Increase in Consolidated Profit After Tax: 24% YoY at 2,140 Crores

Increase in Standalone Profit After Tax: 18% YoY at 1,966 Cro

10 Nov 2023, 09:57 AM IST
Sensex Today Live: Fevicol-maker Pidilite to enter NBFC sector, offer small-value retail loans, says MD Bharat Puri

Pidilite, the makers of Fevicol, Dr Fixit, Fevikwik, and M-Seal, is entering into the NBFC sector by acquiring a promoter group firm Pargro Investments. Managing Director Bharat Puri said the new venture will not be a “big bang initiative” where Pidilite wants to be a large-scale business. The MD said they will provide small-value retail loans to the people related to its ecosystem, PTI news agency reported.

“It will remain restricted to the Pidilite ecosystem and service, where it believes to…



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