Stock Market Live Updates 23 May 2024: Stock to buy today: CIE Automotive India

tock Market Today | Share Market Live Updates – Find here all the live updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for 23 May 2024

• May 23, 2024 09:38
  

  Share market live news: Godrej Properties Ltd. (GPL) has sold 650 homes worth over ₹2,000 crore in its project, Godrej Jardinia, located in Sector 146, Noida.

  Godrej Properties stock trades at ₹2,821.55 on the NSE, up 0.29%.

• May 23, 2024 09:37
  

  Stocks in news: L&T Technology Services announced the inauguration of the Simulation Centre of Excellence for Airbus, located at the LTTS campus in Bengaluru.

  L&T Technology Services’ stock inches up 0.59% on the NSE, trading at ₹4,615.

• May 23, 2024 09:36
  

  Buzzing stocks: Ashoka Buildcon

  Ashoka Buildcon board has approved fund raising proposal by way of issuance of unsecured, commercial papers of up to ₹200 Crore and issuance of unsecured, non-convertible debentures on private placement basis up to ₹300 Crore.

  Company’s consolidated net profit for the quarter ended March 2024 was at ₹254.30 crore as against the loss of ₹44.75 crore in the corresponding quarter last year.

  Stock trades at ₹191.20 on the NSE, higher by 5%.

• May 23, 2024 09:34
  

  Share market live news: Top gainers, losers at this hour

  Major gainers on the NSE at 9.30 am:

  L&T (0.96%), Axis Bank (0.84%), Asian Paints (0.77%), SBI Life Insurance (0.76%), IndusInd Bank (0.67%)

  Major losers:

  Power Grid (-4.71%), Sun Pharma (-4.45%), JSW Steel(-2.62%), Hindalco (-2.16%), Tata Steel (-1.13%)

• May 23, 2024 09:26
  

  Share market live news: Here’s what Aditya Gaggar, Director of Progressive Shares, said on market trends

  Heavyweights-led recovery pushed the Index higher to end the 22nd May trade at 22,598. The presence of strong momentum was seen as the Index has made back-to-back green candles on the daily chart indicating a high probability of retesting its previous high of 22,780 while on the lower side, the support is placed at 22,470.

  BankNifty remained an area of concern and limited the upmove of Nifty50. A firm move above 48,200 is a must to regain its momentum while 47,500 acts as a strong support. The Auto sector has been oscillating in a thin range, and at any point in time, we can expect a breakout. Coal India from the Energy segment is performing as per our expectations and we continue to hold a positive stance. A bullish Flag and Pole Formation breakout in the FMCG sector suggests continuation of the current underlying uptrend. We can expect some profit booking correction in the Metal sector; however, the underlying uptrend will remain intact and such corrections will provide better entry points. 

  The pharma sector is on the verge of giving a much-awaited range breakout and post the breakout, we can foresee a strong outperformance.

• May 23, 2024 09:21
  

  Opening Bell: Sensex, Nifty open flat; banks shine

  India’s equity benchmarks BSE Sensex and NSE Nifty opened on a flat note on Thursday as the Federal Reserve’s latest policy minutes reflected disappointment in recent inflation data, dampening hopes of an early rate cut. 

• May 23, 2024 09:18
  

  Market live news: Crude oil futures trade lower on Thursday morning

  Crude oil futures traded lower on Thursday morning as the minutes of the April’s meeting of the US Federal Reserve showed committee members willingness to tighten the policy further if inflation increases in the US. At 9.15 am on Thursday, July Brent oil futures were at $81.55, down by 0.43 per cent, and July crude oil futures on WTI (West Texas Intermediate) were at $77.17, down by 0.52 per cent. June crude oil futures were trading at ₹6441 on Multi Commodity Exchange (MCX) during the initial hour of trading on Thursday morning against the previous close of ₹6492, down by 0.79 per cent, and July futures were trading at ₹6441 against the previous close of ₹6487, down by 0.71 per cent.

• May 23, 2024 09:15
  

  Share market live news: Researchbytes Analyst updates

  Researchbytes Events Update

  As of 08:21 AM Thursday 23 May 2024

  Can set alert for them at www.researchbytes.com 

  11:00 AM Grasim

  Dial: +91 22 6280 1127

  Weblink: https://tinyurl.com/bdcrxjzu

  11:30 AM Pennar Inds

  Dial: +91 22 62801143

  Weblink: https://tinyurl.com/4dzfchvf

  11:30 AM Vascon Engineer

  Dial: +91 22 6280 1256 

  Weblink: https://tinyurl.com/yyf6anzj

  12:00 PM Jindal Drilling

  Weblink: https://tinyurl.com/bde4srdv

  12:00 PM Max Estates

  Dial: +91 22 6280 1225

  Weblink: https://tinyurl.com/2xaxd88c

  12:00 PM Petronet LNG

  Dial: 91226280 1143

  Weblink: https://tinyurl.com/3bkmund4

  12:30 PM Indigo Paint

  No Contact Available

  Please check again for details @ www.researchbytes.com 

  12:30 PM S P Apparels

  Dial: +91 22 6280 1146

  Weblink: https://tinyurl.com/575y8hms

  12:30 PM Prataap Snacks

  Dial: +91 22 6280 1297

  1:30 PM Laxmi Organics

  (Press Release )

  Dial: +91 22 6280 1309

  Weblink: https://tinyurl.com/2rse4mns

  2:00 PM PI Industries

  Dial: 91 22 6280 1141

  Weblink: https://tinyurl.com/yc4revst

  2:30 PM Ashoka Buildcon

  Dial: +91 22 62801143

  Weblink: https://tinyurl.com/53cvxpmx

  3:00 PM Phillips Carbon Black

  Weblink: https://tinyurl.com/47t2ybw7

  3:00 PM Navneet

  Dial: +91 22 6280 1455

  Weblink: https://tinyurl.com/mserss5w

  3:00 PM Kaveri Seed

  Dial: +91 22 6280 1573

  3:30 PM Metro Brands

  Dial: +91 22 6280 1230

  Weblink: https://tinyurl.com/37u7ecde

  3:30 PM Minda Inds

  Dial: +91 22 6280 1309

  Weblink: https://tinyurl.com/nhjnj8kf

  3:30 PM Music Broadcast Private

  Dial: +91 22 6280 1309

  Weblink: https://tinyurl.com/wvm4tvdv

  4:00 PM FIEM Ind

  Dial: +91 22 6280 1455

  Weblink: https://tinyurl.com/y6t9py34

  4:00 PM Page Industries

  Dial: +91 22 6280 1468

  Weblink: https://tinyurl.com/yeymdadr

  4:00 PM BCL

  (Results)

  Dial: +91 22 6280 1527

  Weblink: https://tinyurl.com/2v692n9k

  4:00 PM Goldiam Inter

  Dial: 022 6280 1455

  Weblink: https://tinyurl.com/ycyhfjb5

  4:15 PM Schneider Infra

  No Contact Available

  Please check again for details @ www.researchbytes.com 

  4:30 PM PG Electroplast

  Dial: +91 22 6280 1366

  Weblink: https://tinyurl.com/mwykbve4

  5:00 PM Max Healthcare Institute

  Dial: +91 22 6280 1141 

  Weblink: https://tinyurl.com/58hzakuh

  5:00 PM Puravankara

  Dial: +91 22 6280 1145

  Weblink: https://tinyurl.com/yp5tye26

  5:00 PM Barbeque Nation

  Dial: +91 22 6280 1467

  Weblink: https://tinyurl.com/4475dv6a

  5:00 PM Tega Inds Ltd

  Dial: +91 22 6280 1550 

  Weblink: https://tinyurl.com/3namsbdx

  5:30 PM Vertoz Advertis

  Dial: +91 22 6280 1341

  Weblink: https://tinyurl.com/24dkzun3

• May 23, 2024 08:48
  

  Market live news: Key economic data slated for release today

  German Flash Manufacturing PMI, German Flash Services PMI, Flash Manufacturing PMI, Flash Services PMI from Euro Zone and Unemployment Claims, Flash Manufacturing PMI, New Home Sales from US Zone.

• May 23, 2024 08:47
  

  Market live news: Gold dips to $2372, Silver down at $30.40

  Gold prices fell as concerns about a hawkish Fed outpaced safe-haven demand and central-bank purchases. According to the minutes of the Fed’s May meeting, the FOMC was concerned about the stickiness of inflation this year, prompting many members to suggest their willingness to tighten monetary policy if price rise remained stubbornly over target. The hawkish opinion was broadly consistent with recent policymakers’ utterances, showing that there is insufficient confidence to cut interest rates given the current inflationary environment.

  Silver fell as traders began to reduce their expectations of rate reduction by the United States Federal Reserve this year. According to the minutes of the Federal Reserve’s April 30-May 1 meeting, it will take longer than expected to establish confidence in inflation rising to 2%. Recent statistics suggested that U.S. inflation has resumed its downward trajectory, but several Fed members were wary about dropping rates too soon while ruling out the necessity for another boost. Silver is poised for its fourth consecutive year of deficit due to tighter supplies, with inventories tracked by the London Bullion Market Association falling to the second-lowest level on record in April and volumes at New York and Shanghai exchanges remaining near seasonal lows.

• May 23, 2024 08:23
  

  Stock market live news: Sensex, Nifty set for a muted start on fading hopes of early US rate cut

  India’s equity benchmarks BSE Sensex and NSE Nifty are set for a muted open on Thursday, after the Federal Reserve’s latest policy minutes reflected disappointment in recent inflation data, dampening hopes of an early rate cut.

  The Gift Nifty was trading at 22,646 as of 7:52 a.m., indicating the Nifty 50 will open near Wednesday’s close of 22,597.80.

  Asian markets opened lower, with the MSCI Asia ex-Japan index dropping 0.75 per cent.

• May 23, 2024 07:56
  

  Share market live news: Here’s what Aditi Nayar, Chief Economist, Head Research and Outreach, ICRA Ltd, said on the RBI dividend

  “The amount of Rs. 2.11-lakh crore is well above the budgeted figure of Rs. 1.5-lakh crore in the Interim Budget for FY2025 under dividends and profits, which includes dividends from PSUs. The higher-than-budgeted RBI surplus transfer would help to boost the GoI’s resource envelope in FY2025, allowing for enhanced expenditures or a sharper fiscal consolidation than what was pencilled into the Interim Budget for FY2025. Increasing the funds available for capex would certainly boost the quality of the fiscal deficit. However, the additional spending may be difficult to be incurred within the 8-odd months left after the Final Budget is presented and approved by Parliament.”

• May 23, 2024 07:55
  

  Stock market live news: Nirmal Bang Retail Research’s take on various stocks

  Action Construction Equipment Ltd. | CMP Rs. 1568 | M Cap Rs. 18672 Cr | 52 W H/L 1695/415

  (Nirmal Bang Retail Research)

  Result has improved

  Revenue from Operations came at Rs. 835.8 Cr (11% QoQ, 36.2% YoY) vs QoQ Rs. 753.1 Cr, YoY Rs. 613.8 Cr

  EBIDTA came at Rs. 129.7 Cr (26.2% QoQ, 76.9% YoY) vs QoQ Rs. 102.7 Cr, YoY Rs. 73.3 Cr

  EBITDA Margin came at 15.5% vs QoQ 13.6%, YoY 11.9%

  Adj. PAT came at Rs. 98.4 Cr vs QoQ Rs. 88.3 Cr, YoY Rs. 47.7 Cr

  Quarter EPS is Rs. 8.3

  Stock is trading at P/E of 34.5x FY26E EPS

  Fiem Industries Ltd. | CMP Rs. 1206 | M Cap Rs. 3174 Cr | 52 W H/L 1299/822

  (Nirmal Bang Retail Research)

  Result improved

  Revenue from Operations came at Rs. 557.5 Cr (14.5% QoQ, 27.8% YoY) vs QoQ Rs. 487 Cr, YoY Rs. 436.2 Cr

  EBIDTA came at Rs. 75.5 Cr (17% QoQ, 25.3% YoY) vs QoQ Rs. 64.5 Cr, YoY Rs. 60.2 Cr

  EBITDA Margin came at 13.5% vs QoQ 13.2%, YoY 13.8%

  Adj. PAT came at Rs. 47.2 Cr vs QoQ Rs. 40.3 Cr, YoY Rs. 38 Cr

  Quarter EPS is Rs. 17.9

  Stock is trading at P/E of 17.4x FY25E EPS

  JK Tyre & Industries Ltd. | CMP Rs. 404 | M Cap Rs. 10533 Cr | 52 W H/L 554/171

  (Nirmal Bang Retail Research)

  Result ok

  Revenue from Operations came at Rs. 3698.5 Cr (0.3% QoQ, 1.8% YoY) vs QoQ Rs. 3687.7 Cr, YoY Rs. 3632.5 Cr

  EBIDTA came at Rs. 481.2 Cr (-12.5% QoQ, 27.9% YoY) vs QoQ Rs. 550.2 Cr, YoY Rs. 376.2 Cr

  EBITDA Margin came at 13% vs QoQ 14.9%, YoY 10.4%

  Adj. PAT came at Rs. 193.8 Cr vs QoQ Rs. 225.3 Cr, YoY Rs. 98.2 Cr

  Quarter EPS is Rs. 7.4

  Stock is trading at P/E of 10.8x FY25E EPS

  Ircon International Ltd. | CMP Rs. 290 | M Cap Rs. 27275 Cr | 52 W H/L 301/78

  (Nirmal Bang Retail Research)

  Result marginally ahead of Expectation

  Revenue from Operations came at Rs. 3649 Cr (30.7% QoQ, -0.6% YoY) vs expectation of Rs. 3564 Cr, QoQ Rs. 2792.1 Cr, YoY Rs. 3669.9 Cr

  EBIDTA came at Rs. 246.6 Cr (41.6% QoQ, 23.6% YoY) vs expectation of Rs. 224.6 Cr, QoQ Rs. 174.1 Cr, YoY Rs. 199.4 Cr

  EBITDA Margin came at 6.8% vs expectation of 6.3%, QoQ 6.2%, YoY 5.4%

  Adj. PAT came at Rs. 285.7 Cr vs expectation of Rs. 242.7 Cr, QoQ Rs. 185.1 Cr, YoY Rs. 248.2 Cr

  Quarter EPS is Rs. 3

  Stock is trading at P/E of 31.3x FY25E EPS

  Metropolis Healthcare Ltd. | CMP Rs. 1904 | M Cap Rs. 9754 Cr | 52 W H/L 1935/1209

  (Nirmal Bang Retail Research)

  Result inline with Expectation

  Revenue from Operations came at Rs. 331 Cr (13.7% QoQ, 17.1% YoY) vs expectation of Rs. 307.9 Cr, QoQ Rs. 291.1 Cr, YoY Rs. 282.5 Cr

  EBIDTA came at Rs. 80 Cr (23.3% QoQ, 13.8% YoY) vs expectation of Rs. 77.6 Cr, QoQ Rs. 64.8 Cr, YoY Rs. 70.3 Cr

  EBITDA Margin came at 24.2% vs expectation of 25.2%, QoQ 22.3%, YoY 24.9%

  Adj. PAT came at Rs. 36.4 Cr vs expectation of Rs. 38.2 Cr, QoQ Rs. 27.2 Cr, YoY Rs. 33.4 Cr

  Quarter EPS is Rs. 7.1

  Stock is trading at P/E of 53.9x FY25E EPS

  GE T&D India Ltd. | CMP Rs. 1355 | M Cap Rs. 34689 Cr | 52 W H/L 1354.8/172

  (Nirmal Bang Retail Research)

  Result is above expectations

  Revenue from Operations came at Rs. 913.6 Cr (8.9% QoQ, 29.9% YoY) vs expectation of Rs. 860 Cr, QoQ Rs. 839 Cr, YoY Rs. 703.1 Cr

  EBIDTA came at Rs. 111 Cr (14.9% QoQ, 297.6% YoY) vs expectation of Rs. 71.9 Cr, QoQ Rs. 96.5 Cr, YoY Rs. 27.9 Cr

  EBITDA Margin came at 12.1% vs expectation of 8.4%, QoQ 11.5%, YoY 4%

  Adj. PAT came at Rs. 66.3 Cr vs expectation of Rs. 51.8 Cr, QoQ Rs. 49.4 Cr, YoY Rs. -10.9 Cr

  Quarter EPS is Rs. 2.6

  Stock is trading at P/E of 121.8x FY25E EPS

  Hitachi Energy India Ltd. | CMP Rs. 10844 | M Cap Rs. 45958 Cr | 52 W H/L 12368/3283

  (Nirmal Bang Retail Research)

  Result is above expectations

  Revenue from Operations came at Rs. 1695.3 Cr (33% QoQ, 27.1% YoY) vs expectation of Rs. 1267.5 Cr, QoQ Rs. 1274.2 Cr, YoY Rs. 1334 Cr

  EBIDTA came at Rs. 151.4 Cr (122.6% QoQ, 59.3% YoY) vs expectation of Rs. 81 Cr, QoQ Rs. 68 Cr, YoY Rs. 95.1 Cr

  EBITDA Margin came at 8.9% vs expectation of 6.4%, QoQ 5.3%, YoY 7.1%

  Adj. PAT came at Rs. 113.7 Cr vs expectation of Rs. 40.2 Cr, QoQ Rs. 23 Cr, YoY Rs. 50.8 Cr

  Quarter EPS is Rs. 26.8

  Stock is trading at P/E of 137x FY25E EPS

  Laxmi Organic Industries Ltd. | CMP Rs. 256 | M Cap Rs. 7048 Cr | 52 W H/L 321/222

  (Nirmal Bang Retail Research)

  Result is above expectations

  Revenue from Operations came at Rs. 792.1 Cr (14.1% QoQ, 8% YoY) vs expectation of Rs. 712.5 Cr, QoQ Rs. 694.3 Cr, YoY Rs. 733.2 Cr

  EBIDTA came at Rs. 90 Cr (72.2% QoQ, 48.3% YoY) vs expectation of Rs. 60.1 Cr, QoQ Rs. 52.3 Cr, YoY Rs. 60.7 Cr

  EBITDA Margin came at 11.4% vs expectation of 8.4%, QoQ 7.5%, YoY 8.3%

  Adj. PAT came at Rs. 44.3 Cr vs expectation of Rs. 27.9 Cr, QoQ Rs. 27.2 Cr, YoY Rs. 24.3 Cr

  Quarter EPS is Rs. 1.6

  Stock is trading at P/E of 40.2x FY25E EPS

  Gulf Oil Lubricants India Ltd. | CMP Rs. 938 | M Cap Rs. 4613 Cr | 52 W H/L 1120/406

  (Nirmal Bang Retail Research)

  Result has improved

  Revenue from Operations came at Rs. 869.6 Cr (6.4% QoQ, 9.8% YoY) vs QoQ Rs. 817.5 Cr, YoY Rs. 792.1 Cr

  EBIDTA came at Rs. 117.3 Cr (6.2% QoQ, 34% YoY) vs QoQ Rs. 110.4 Cr, YoY Rs. 87.5 Cr

  EBITDA Margin came at 13.5% vs QoQ 13.5%, YoY 11.1%

  Adj. PAT came at Rs. 86.2 Cr vs QoQ Rs. 80.1 Cr, YoY Rs. 62.2 Cr

  Quarter EPS is Rs. 17.5

  Stock is trading at P/E of 15x TTM EPS

• May 23, 2024 07:52
  

  Share market live news: Market overview on May 22

  BSE:+267(74221)

  NSE:+68(22597)

  BNF:-266(47781)

  MID:-21(43170)

  SML:+88(47961)

  FII|FPI:(-686.04Cr)

  DII:+961.91Cr

  B.Crude: 82

  Gold$:2411=INR: 73804

  Silver: 93955

  $/Rs: 83.28

  7.18 : 2033 G-Sec: 7.03 (7.07 prv)

  NSE PE: 21.55

  VIX: 21.47 −0.34 (1.57%)

  FIIs – FY24-25

  MTD: (-38186.0Cr)

  DIIs – FY24-25

  MTD: +38331.06Cr

• May 23, 2024 07:51
  

  Stock market live news: Fund Houses recommendations

  Jefferies on JB Phama: Maintain Buy on Company, raise target price at Rs 2060/Sh (Positive)

  ICICI on IDFC First: Upgrade to Buy on Company, raise target price at Rs 95/Sh (Positive)

  Jefferies on ONGC: Maintain Buy on Company, target price at Rs 390/Sh (Positive)

  Emkay on Ujjivan SFB: Maintain Buy on Company, target price at Rs 65/Sh (Positive)

  Nuvama on Hitachi: Maintain Buy on Company, raise target price at Rs 13000/Sh (Positive)

  Nuvama on BHEL: Maintain Buy on Company, target price at Rs 400/Sh (Positive)

  Antique on BHEL: Maintain Buy on Company, raise target price at Rs 360/Sh (Neutral)

  CLSA on BHEL: Maintain Sell on Company, cut target price at Rs 189/Sh (Neutral)

  MS on BHEL: Maintain Equal weight on Company, target price at Rs 220/Sh (Neutral)

  MS on SBI Cards: Maintain Equal weight on Company, target price at Rs 750/Sh (Neutral)

  MS on Metropolis: Maintain Equal weight on Company, target price at Rs 1792/Sh (Neutral)

  Nuvama on ONGC: Maintain Reduce on Company, target price at Rs 210/Sh (Neutral)

  Citi on ONGC: Maintain Buy on Company, target price at Rs 315/Sh (Neutral)

  Bernstein on HCL Tech: Maintain Market perform on Company, cut target price at Rs 1460/Sh (Neutral)

  Bernstein on LTI Mindtree: Maintain Market perform on Company, cut target price at Rs 4800/Sh (Neutral)

  Bernstein on L&T Tech: Maintain Underperform on Company, cut target price at Rs 4070/Sh (Neutral)

  Jefferies on Astral: Maintain Hold on Company, target price at Rs 2150/Sh (Neutral)

  CLSA on Astral: Maintain Sell on Company, target price at Rs 1800/Sh (Neutral)

  Jefferies on PI Ind: Maintain Buy on Company, target price at Rs 4165/Sh (Neutral)

  GS on Hitachi Ind: Maintain Buy on Company, target price at Rs 8250/Sh (Neutral)

  IIFL on L&TFH: Downgrade to Reduce on Company, cut target price at Rs 155/Sh (Negative)

• May 23, 2024 07:51
  

  Share market live news: Broker’s Call

  Jefferies on PI Industries

  Buy Call, Target Rs 4,165

  Q4 Revenue Missed Est By 6% With Both Agrochemical & Pharma Weaker

  EBITDA, Came In-line On Strong Gross Margin Despite Drag From Pharma

  PAT At Rs 370 Cr, Up 32% YoY & Down 18% QoQ, Was 6% Ahead On Lower Tax Rate

  Key Focus Areas Are Growth & Margin In CSM & Domestic Business

  Key Focus Area Is Ramp Up Of Pharma Over FY25

  CLSA on BHEL

  Sell Call, Target Rs 189

  Co Reported A Surprise 25% Decline In Its Q4 PAT

  Co’s Backlog Grew 44% YoY As Thermal Orders Picked-up

  Operationally, Another Weak Quarter In Q4 With Flat Execution

  PAT Down 25% YoY Driven By Slow-moving Orders

  FY24 Gross Margin Fell 58 bps, Management Said Should Be The Bottom

  Key Bright Spot Was Resurgence Of Fossil Orders, Given Energy Security

  Future Of Co’s Thermal Business Looks Bleak Beyond FY30

  MS on BHEL

  Equal-Weight Call, Target Rs 220

  Q4 Earnings Missed Estimates

  Operating Cash Flow Was Weak On Higher Net Working Capital

  Earnings Visibility Is Improving With Strong Orders & Healthy Prospect Pipeline

  Depleted Vendor Base & Extending Them Attractive Terms Is A Key Risk Factor

  Macquarie on BHEL

  U-P, TP Rs 192

  Flat rev & 31% YoY EBITDA fall in 4Q

  EBITDA margin weakness in contrast to YoY expansion/beats reported by several peers

  While order inflow outlook is healthy, presence of multiple moving parts &long gestation backlog nature keeps us cautious

  MS on Metropolis

  Equal-Weight Call, Target Rs 1,792

  Q4 Reported EBITDA Grew 15%, In-line With Estimates

  Q4 Core Revenues Were Up 15% YoY, Led By 7.3% Core Patient Volumes Growth

  Contribution Was Stable QoQ At 15% Of Total Revenues

  Jefferies on ONGC

  Buy Call, Target Rs 390

  Standalone EBITDA In-line With Estimates

  PAT Was 14% Ahead On Lower Exploration Costs & Higher Other Income

  Production Was Broadly In-line

  Management Guided For KG Field Ramp-up To Peak Over H2FY25

  Mgmt Expects Modalities Of Prem Gas Price From Nomination Blocks To Be In Place By QFY25

  Valuation Is At A Steeper Discount To Nifty Compared To LT Avg

  CLSA on ONGC

  Buy, TP Rs 330

  Standalone 4Q PAT 7% ahead of est.driven by higher crude sales despite a lower tax-adjusted realisation

  Management remained confident of driving production growth over next three years & guided for a ramp-up in production from KG-98/2 in 2HFY25

  Jefferies on Astral

  Hold Call, Target Rs 2,150

  Q4 In-line With Estimates, Thus, Retain FY25-26 EPS

  Q4/FY24 Pipes Volume Growth Was Healthy At +23%/+24% YoY

  Pipes Volume Growth Was Yet Again Lower Than Supreme At +41%/34% YoY

  Traction In New Categories Seems On-track

  CLSA on Astral

  Sell Call, Target Rs 1,800

  Q4 Below Estimates Despite Strong Pipe Volume Growth

  Q4 Below Estimates Due To Weak Margin And International Adhesives Business

  Mgmt Guided For Robust Growth (15-20%) Across Pipes & Adhesives Businesses In FY25

  Over Medium-term, Plugging Mfg White Spaces Will Pave Way For Strong Growth

  New Product Introductions & Pick-up In New Biz Verticals Will Pave Way For Strong Growth

  At A 62x FY26 PE This Looks Priced In

  MS on Astral

  EW, TP Rs 1884

  CO continues to guide for doubling its revenue over next five years – a 15% CAGR, led by strong real estate momentum, capex upturn, and market share gains by leveraging its strong distribution network.

  Guiding for 15-20% volume growth in plumbing/pipes

  MS on SBI Card

  Equal-Weight Call, Target Rs 750

  Co’s April Spending Market Share Rose Nearly 50 bps MoM To 15.7%

  Spending Growth YoY Was Slower At 1% Vs 18% YoY For Industry In April

  Slower Spending Growth Reflects Impact Of RBI’s Recent Notification On Corp Card Spending

• May 23, 2024 07:49
  

  Share market live news: Here’s what Madhavi Arora of Emkay Global said on RBI dividend

  RBI’s dividend payout in end-May (to be effectively spent only in early June) and post-election pent up spending by the Govt. in June/July should augur well for the banking system liquidity, which is currently in deficit of more than Rs 1tn. The improvement in liquidity will be further helped by lower CIC in coming months and consistent debt FPI flows. We see net liquidity surplus averaging ~0.5-0.8% of NDTL in coming three months vs current deficit of ~0.5% of NDTL.

  While this would lead the call money rate mostly tracking the repo rate or a tad lower than repo rate, we do not immediately see the RBI taking any drastic actions to suck out this liquidity durably from the system via blunt tools like OMOs (alb use regular tools like VRRR). This is especially so given that there has anyway been coordinated fiscal, monetary and regulatory tightening in the economy. We reckon that the overall inflation dynamics have been favourable and unless there is any material upside deviation from the RBI’s forecast (FY25: 4.5%), the ensuing liquidity surplus may not disturb the RBI as much, assuming global rates remain soft.

• May 23, 2024 07:44
  

  Stock market live news: Stock split dates

  Ex – Stock Split 24 May 2024 (Tomorrow)

  Last day trade for before split Today

  Bharat Dynamics Ltd

  Stock Split Rs.10/- to Rs.5/-

  Previous day Closing Price – Rs. 2646.25

  Som Distilleries & Breweries Ltd.

  Stock Split Rs.5/- to Rs.2/-

  Previous day Closing Price – Rs. 314.95

• May 23, 2024 07:43
  

  Share market live news: Bonus issue dates

  Ex Bonus 24 May 2024 (Tomorrow)

  Last date Trade for Before Bonus Today

  G.M.Breweries Ltd.

  Bonus issue 1:4

  Previous day Closing Price – Rs. 792.85

  Inox Wind Ltd

  Bonus issue 3:1

  Previous day Closing Price – Rs. 600.05

• May 23, 2024 07:43
  

  Share market live updates: Dividend dates

  Ex-Dividend 24 May 2024 (Tomorrow)

  Last date for Cum-Dividend Today

  Qgo Finance Ltd

  Dividend Per Share Rs.0.15

  Previous day Closing Price – Rs. 67.96

  Tata Consumer Products Ltd

  Dividend Per Share Rs.7.75

  Previous day Closing Price – Rs. 1120.6

  Vedanta Limited

  Dividend Per Share Rs.11

  Previous day Closing Price – Rs. 487

• May 23, 2024 07:41
  

  Share market live news: Q4 FY24 EARNING CALENDAR 23.05.2024

  AMRUTANJAN, BAJEL, BARBEQUE, BAY vegERCROP, BIKAJI, CELLO, CESC, CONCORDBIO, ESABINDIA, EXPLEOSOL, FINCABLES, FORTIS, GABRIEL, HIMATSEIDE, HONASA, IMFA, INDIGO, ITC, LANDMARK, MAZDA, NUCLEUS, ORCHPHARMA, PAGEIND, PCBL, SANDHAR, SCHNEIDER, SENCO, SMLISUZU, SUBROS, TAJGVK, TATAINVEST, TDPOWERSYS, TEGA, UNOMINDA, YATHARTH, ZAGGLE

• May 23, 2024 07:40
  

  Market live news: Stocks in news

  Nykaa: Net profit at Rs 9.1 cr vs Rs 2.3 cr, Revenue at Rs 1667 cr vs Rs 1302 cr. (YoY) (Positive) 

  Gland Pharma: Net profit at Rs 192 cr vs Rs 79 cr, Revenue at Rs 1537 cr vs Rs 785 cr. (YoY) (Positive) 

  GE Power: Net profit at Rs 26 cr vs loss Rs 130 cr, Revenue at Rs 391 cr vs Rs 344.4 cr (Positive) 

  Teamlease: Net profit at Rs 28.13 cr vs Rs 24.36 cr, Revenue at Rs 2432 cr vs Rs 2027 cr. (Positive) 

  Ramco Cements: Net profit at Rs 121.4 cr vs poll of Rs 111 cr, Revenue at Rs 2673.3 cr vs Rs 2520 cr. (Positive) 

  PGEL: Net profit up 73.1% at ₹69.6 cr vs ₹40.2 cr, Revenue up 30% at ₹1,076.6 cr vs ₹828.2 cr (YoY) (Positive) 

  Jubilant Food: Net profit at Rs 207 cr vs poll of Rs 44 cr, Revenue at Rs 1572 cr vs poll of Rs 1327 cr. (Positive) 

  Metro Brands: Net profit at ₹155.2 cr vs ₹68.5 cr, Revenue up 7.1% at ₹583 cr vs ₹544.1 cr (YoY) (Positive) 

  GR Shipping: Net profit at Rs 111.6 cr vs Rs 55.3 cr, Revenue at Rs 1016 cr vs Rs 601 cr. (YoY) (Positive) 

  Navneet: EBITDA at Rs 86.0 cr vs Rs 4.0 cr, Revenue at Rs 435 cr vs Rs 259 cr. (YoY) (Positive) 

  NIACL: Operating profit of ₹6 crore from loss of ₹68 crore, Net earned premium up 13.5% from last year to ₹8,975 crore. (Positive) 

  All cargo Logistics: Company arm, ECU Worldwide, acquires 25% stake in Fair Trade for €2.9 million (Positive) 

  Zydus Life: Company receives USFDA approval for asthma treatment drug. (Positive) 

  Mahindra Finance: Company receives IRDAI approval to sell insurance products as corporate agent. (Positive) 

  Data Patterns: Company expects to receive another 1,000 cr order intake during the course of this Financial year. (Positive) 

  Oil India: Company in pact with NRL for transportation of additional petroleum products via Numaligarh-Siliguri Product Pipeline (Positive) 

  Petronet LNG: Net profit at Rs 734.1 cr vs Rs 591.2 cr (YoY) , Revenue at Rs 13,793.2 cr vs Rs 13,873.9 cr. (YoY) (Neutral) 

  Minda Corp: Net profit at Rs 71 cr vs Rs 122 cr, Revenue at Rs 1215 cr vs Rs 1075 cr. (YoY) (Neutral) 

  GMM Pfaudler: Net profit at Rs 28.71 cr vs Rs 33.34 cr, Revenue at Rs 741 cr vs Rs 866 cr. (YoY) (Neutral) 

  Max Healthcare: Net profit at Rs 251.5 cr vs Rs 251 cr, Revenue at Rs 1423 cr vs Rs 1214 cr. (YoY) (Neutral) 

  Torrent Power: Net profit at Rs 447.04 cr vs Rs 483.93 cr, Revenue at Rs 6529 cr vs Rs 6038 cr. (Neutral) 

  HEG: Net profit at Rs 32.9 cr vs Rs 99.7 cr, Revenue at Rs 546.9 cr vs Rs 616.9 cr. (YoY) (Neutral) 

  Star Cement: Net profit down 8.8% at ₹876.6 cr vs ₹961.1 cr, Revenue up 10.2% at ₹9,135.3 cr vs ₹8,291.5 cr (YoY) (Neutral) 

  Fair Chem: Net profit at Rs 11.8 cr vs Rs 12.3 cr, Revenue at Rs 161 cr vs Rs 148 cr. (YoY) (Neutral) 

  GPPL: Net profit at Rs 66 cr vs Rs 97 cr, Revenue at Rs 157 cr vs Rs 130 cr. (YoY) (Neutral) 

  Power Grid: Net profit at Rs 4127 cr vs Rs 4217 cr, Revenue at Rs 11050 cr vs Rs 11328 cr. (YoY) (Neutral) 

  Grasim: Net loss at Rs 441 cr vs profit Rs 93.5 cr, Revenue at Rs 6768 cr vs Rs 6646 cr. (YoY) (Neutral) 

  Paytm: Company Expect take rate to settle at 3-3.5% due to rise in distribution of loans, focus on prime customers (Neutral) 

  Sun Pharma: Dilip Shanghvi, MD of Sun Pharma, appointed as Chairman of the Board. (Neutral) 

  Indian Bank: Company to raise up to Rs 12,000 crore via equity and debt (Neutral) 

  IB Real: Completed the acquisition of BLU Annex at an enterprise value of ₹1,150 crore. (Neutral) 

  Adani Energy Solutions: To consider fund raising via QIP on May 27. (Neutral) 

  *Unichem Lab: Net loss at Rs 129.3 cr vs Rs 44.3 cr, Revenue at Rs 431.7 cr vs Rs 402 cr. (YoY) (Negative) 

  Keystone Realtors: Company to raise up to ₹1,000 cr via QIP, indicative price at ₹660/sh (Negative) 

  Deepak NTR: Excessive dumping of products by China in the Indian market is posing a challenge for the company (Negative) 

  Gandhar Oil : Net profit at Rs 12 cr vs Rs 50 cr, Revenue at Rs 939 cr vs Rs 1103 cr. (YoY) (Negative) 

  Everest : Net profit at Rs 5 cr vs Rs 13 cr, Revenue at Rs 432 cr vs Rs 446 cr. (YoY) (Negative)

• May 23, 2024 07:38
  

  Stock market live news: Listing of Go Digit General Insurance Limited on 23rd May, 2024

  Symbol: GODIGIT 

  Series: Equity “B Group” 

  BSE Code: 544179 

  ISIN: INE03JT01014 

  Face Value: Rs 10/- 

  Issued Price: Rs 272/- per share

• May 23, 2024 07:38
  

  Stock market live news: Securities in F&O Ban For Trade Date 23-May-2024

  * ABCAPITAL

  * BANDHANBANK

  * BALRAMCHIN

  * BIOCON

  * HINDCOPPER

  * INDIACEM

  * IEX

  * METROPOLIS

  * NATIONALUM

  * PEL

  * PNB

  * VODAFONE IDEA

  * ZEEL

• May 23, 2024 07:36
  

  Share market live news: Major US listed stocks result calendar 23.05.2024

  Medtronic plc (Pre market) (Sector- Healthcare) 

  Toronto Dominion Bank (Pre market) (Sector- Financial) 

  NetEase, Inc. (Pre market) (Sector- Technology) 

  KE Holdings Inc (Pre market) (Sector- Realty) 

  BJ’s Wholesale Club Holdings, Inc. (Post market) (Sector- Retail) 

  Ralph Lauren Corporation (Post market) (Sector- Textile) 

  Intuit Inc. (Post market) (Sector- Financial) 

  Workday, Inc. (Post market) (Sector- Technology) 

  Ross Stores, Inc. (Post market) (Sector- Textile) 

  Deckers Outdoor Corporation (Post market) (Sector- Textile)

• May 23, 2024 07:35
  

  Stock market live news: Economic Calendar – 23.05.2024

  10:30 INDIA Manufacturing PMI (Expected: 58.4 versus Previous: 58.8)

  13:00 EURO German Manufacturing PMI (Expected: 43.4 versus Previous: 42.5)

  18:00 US Unemployment Claims (Expected: 221k versus Previous: 222K)

  19:15 US Flash Manufacturing PMI (Expected: 50.0 versus Previous: 50.0)

  19:30 U.S. New Home Sales (Expected: 677k versus Previous: 693K)

• May 23, 2024 07:35
  

  Share market live news: Nvidia Q1 25 Earnings

  – Adj EPS $6.12 (est $5.65)

  – Rev $26.0B (est $24.69B)

  – Data Centre Revenue $22.6B (est $21.13B)

  – Sees Q2 Rev $28B Plus Or Minus 2% (est $26.8B)

  – Div Raised 150% To $0.01/Shr On Post-Split Basis

  – Announces 10-For-1 Forward Stock Split

• May 23, 2024 07:33
  

  Share market live news: Settlement holiday

  1. 23rd May ‘24 is declared as a settlement holiday on account of Buddha Purnima.

  2. Due to the same, the stocks bought in Delivery on 22nd May, 2024, will not be available for selling on 23rd May ‘24. The settlement of stocks bought on 22nd May ‘24, will take place on 24th May ‘24.

  3. The sale proceeds (money) of stocks sold on May 22nd ‘24, will be available on May 24th ‘24, only for further investments.

  4.Your Account Balance on May 23rd ‘24, will not include credits from Intraday profits made & credits (i.e. premium from options sold, marked-to-market profit, intraday profits, etc.) received in Equity and F&O Segment on May 22nd ‘24.

• May 23, 2024 07:28
  

  Stock market live news: Jubilant FoodWorks posts net profit of ₹208 crore in Q4

  Jubilant Foodworks Ltd (JFL) on Wednesday posted a consolidated net profit of ₹208.24 crore for the quarter ended March 2024, recording a multi-fold growth, which included exceptional item gains. The leading food services company had posted a net profit of ₹28.54 crore in the corresponding quarter of the previous fiscal. Consolidated revenue from operations for the quarter under review stood at ₹1,572.8 crore, up 23.9 per cent.

• May 23, 2024 07:27
  

  Stock market live news: Tata Communications and Cisco launch Webex Calling to enhance enterprises’ customer experience

  Tata Communications, in partnership with Cisco, has launched Webex Calling with cloud Public Switched Telephone Network (PSTN) for enterprises. 

  Webex Calling is a business phone system delivering enterprise-grade calling through a cloud platform. With over 14 million users around the world, this service will be offered by integrating Cisco’s Webex Calling with the cloud voice services of Tata Communications Global Rapide platform. 

• May 23, 2024 07:25
  

  Share market live news: Sun Pharma Q4 net profit up 34% on strong global speciality business

  Sun Pharmaceutical Industries has reported a net profit of ₹2,654 crore for the three months ended March 31, 2024, up 34 per cent as compared to ₹1,984 crore in the same period last year. It posted gross sales of ₹11,813 crore, up 10.1 per cent over the same period last year.

  For the year ended March 31, 2024, the company reported a net profit of ₹9,576 crore and gross sales of ₹47,758 crore, up 10.4 percent over last year.

• May 23, 2024 07:12
  

  Market live news: RBI’s Dividend Bonanza: If it were a listed entity like BoJ, it would be worth over $500 billion

  If the RBI was a listed entity like Japan’s Central Bank or the Bank of Japan, and investors are ready to buy it at a 5 per cent dividend yield today (assuming profits can increase over the years), the RBI would be worth a staggering $ 500 billion. And much more if one is ready to accept a lower dividend yield. But again, let’s stick to prudence here, too, and not think along those lines. This point is just to highlight what a wonderful job the RBI and its Governors have done over the decades. Read an analysis on RBI’s latest dividend transfer to the government.

• May 23, 2024 07:01
  

  Stocks in news: SpiceJet and Kalanidhi Maran at odds again over Delhi High Court ruling

  SpiceJet announced on Wednesday that it would demand a refund of ₹450 crore out of the ₹730 crore previously paid to former promoter Kalanithi Maran and his firm, KAL Airways, following a Delhi High Court order.

  However, Kal Airways has rejected the same, stating that the Division Bench’s award remained in favour of Kal Airways and Kalanidhi Maran.

  The Delhi High Court’s Division Bench on May 17 set aside a single judge bench’s order that had upheld an arbitral award requiring SpiceJet and its promoter Ajay Singh to refund ₹580 crore plus ₹150 crore interest to Maran.

• May 23, 2024 07:00
  

  Share market live news: SEBI panel proposes changes to BRSR framework

  A SEBI committee has suggested changes to the BRSR, or Business Responsibility and Sustainability Reporting, framework. 

  ESG disclosures for the value chain will be applicable to the top 250 listed entities on a comply-or-explain basis from FY25. 

  The committee felt the definition of ‘value chain’ needed to be rationalised to cover only significant partners. Accordingly, value chain partners would be redefined to include those upstream and downstream partners of a listed entity, individually comprising 2 per cent or more of the listed entity’s purchases or sales (by value), respectively.

• May 23, 2024 06:43
  

  Share market live news: Day trading guide for May 23, 2024: Intraday supports, resistances for Nifty50 stocks

  Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS, and SBI

• May 23, 2024 06:40
  

  Stock market live news: Stock to buy today: CIE Automotive India

  The outlook is bullish for CIE Automotive India. The stock has made a bullish breakout by surging over 6 per cent on Wednesday.

  This surge has taken the share price well above the key resistance level of ₹510. This level has been capping the upside since October last year. So, the breakout is very significant. Any intermediate dips will now be limited to ₹510 as fresh buyers are likely to come into the market. CIE Automotive India share price can rise to ₹580 in the coming weeks.