Stock Market Live Updates 24 May 2024: Stock to buy today: Hindalco Industries (₹676.6)

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 May 24, 2024.

• May 24, 2024 11:35
  

  Share market live news: Major stocks that hit a 52-week high on the NSE

  Samvardhana Motherson

  Adani Enterprises 

  Bharat Electronics

  Ambuja Cements

  Ashok Leyland

• May 24, 2024 11:27
  

  Share market live news: Hindalco net profit may increase 18% on lower cost

  Hindalco Industries, an Aditya Birla Group company, net profit in Q4 to surge 18 per cent YoY to ₹2,852 crore due to lower cost, as per the average of estimates shared by nine brokerages. However, the revenue is expected to decline 2.5 per cent to ₹54,443 crore.

  The company will announce its results on Friday.

• May 24, 2024 11:25
  

  Buzzing stocks: Steel Strips Wheels Limited

  Steel Strips Wheels Limited (SSWL) has received nomination for from a leading European OEM. Business value is close to €8 million which will be executed over a span of 6 years. series supplies are expected to commence from Mid year 2025 from SSWL’s Chennai plant.

  SSWL stock surges 3.35% on the NSE, trading at ₹230.10.

• May 24, 2024 11:23
  

  Share market live news: Bank Nifty prediction today – May 24, 2024: Index trading in a range, stay out for now

  Bank Nifty futures (May contract) opened today’s session flat at 48,839. It is currently hovering around this level and the contract has not established an intraday trend yet.

  The contract has a support at 48,700 and a resistance at 49,000. So, the next leg of trend will depend on which direction Bank Nifty futures move out of this price band.

• May 24, 2024 11:10
  

  Stock market live news: Nifty media rose 1.05% to trade at 1,897.10; Nifty metal is up 0.86% at 10,045.30

• May 24, 2024 11:09
  

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

  Top gainers on the BSE at 11 am:

  Finolex Cables (16.60%), BDL (13.07%), SDBL (12.88%), Vodafone Idea (9.40%), Timken (8.77%)

  Top losers:

  Schneider Electric (-5%), Bayer Crop(-5%), Vaibhav Global (-4.80%), Paytm (-4.51%), TD Power Systems (-4.34%)

• May 24, 2024 11:08
  

  Market updates: Nifty prediction today—May 24, 2024: Charting a sideways trend, initiate position along the direction of the break

  The May futures of Nifty 50 opened flat at 23,000 as against yesterday’s close of 23,003. It is now trading at 22,970, down 0.15 per cent.

  Although the trend is bullish, Nifty futures faces a resistance at 23,040. A breakout of this hurdle can result in the contract rising to 23,200 and then to 23,300.

  On the other hand, if the weak equity market sentiment across Asia weighs on Nifty futures leading to a fall below 22,950, the contract can extend the downswing to 22,850, a support. Subsequent support is at 22,750.

• May 24, 2024 11:02
  

  Stock market live news: Caplin Point Laboratories stock trades at ₹1,326.85 on the BSE, up 1.35%.

  Caplin Steriles Limited (Caplin), a Subsidiary of Caplin Point Laboratories, has been granted final approval from the USFDA for its Abbreviated New Drug Application (ANDA) Phenylephrine hydrochloride Ophthalmic Solution USP 2.5% and 10% (eye drops), a generic therapeutic equivalent version of the Reference Listed Drug (RLD), from Alcon Research LLC. 

• May 24, 2024 10:51
  

  Buzzing stocks: Aurionpro Solutions

  Fime, consulting and testing service provider for payment systems, and Aurionpro Transit, an Aurionpro subsidiary, have announced collaboration to explore opportunities in the field of transit ticketing, payments, and fare collection projects worldwide.

  Aurionpro Solutions stock surges 3.62% on the NSE, trading at ₹2,242.

• May 24, 2024 10:49
  

  Stocks in news today: Knowledge Marine & Engineering Works Limited

  Knowledge Marine & Engineering Works Limited has received a Letter of Award (LOA) from the Myanmar Port Authority for maintenance dredging of the Yangon River. The contract is valued at $4.85 million for a period of one year.

  Stock inches up 0.99% on the BSE, trading at ₹1,287.60.

• May 24, 2024 10:48
  

  Stock market live news: Corporate Action

  Bharat Dynamics: Stock Split Rs .10 to Rs 5

  Inox Wind: Bonus 3:1

  SOM Distilleries: Stock Split Rs. 5 to Rs. 2 

  TCS: Dividend Rs. 7.75

  Vedanta: Dividend

  VSF Projects: Right Issue

• May 24, 2024 10:47
  

  Share market live news: Top gainers of Nifty Metal stocks

  JSL (2.15%), Hindalco (1.34%), SAIL (1.27%), NMDC (1.26%)

• May 24, 2024 10:44
  

  Stock market live news: Nifty hits 23k-mark for first time

  Nifty crossed the 23,000 mark for the first time on Friday morning hitting high of 23004. BSE Sensex was at 75,508 up by 0.12 per cent or 90.39 points.

  A total of 3,129 stocks were actively traded, while 1,743 advanced, 1,263 declined and 123 stocks remained unchanged. 115 stocks hit 52-week high and 11 stocks hit 52-week low at 9.30 am on the BSE.

  Deven Mehata, Research Analyst, Choice Broking, said, “Nifty can find support at 22,900 followed by 22,850 and 22,800. On the higher side, 23,025 can be an immediate resistance, followed by 23,100 and 23,200.”

• May 24, 2024 10:40
  

  Stocks in news today: Adani Enterprises has hit a 52-week high on the NSE at ₹3,445.05. Stock currently trades at ₹3,434.95, up 1.41%.

• May 24, 2024 10:25
  

  Stock Market Live Today: Top gainers of Nifty Metal stocks

  JSL (2.15%), Hindalco (1.34%), SAIL (1.27%), NMDC (1.26%)

• May 24, 2024 10:24
  

  Stock Market Live Today: Honasa Consumer stock up 2.59% after Q4 profit of ₹30.47 crore

  Honasa Consumer stock rises 2.59% on the NSE, trading at ₹429.20. It had posted a consolidated net profit of ₹30.47 crore for the fourth quarter ended March 2024 as against the loss of ₹161.75 crore in the year-ago period.

• May 24, 2024 10:23
  

  Stock Market Live Today: ITC Ltd recommends a final dividend of ₹7.5 per share for FY24

  Record Date – June 4

  Share Price – ₹439

  Dividend Yield – 3.1%

  Basic EPS – ₹16.4

  Payout Ratio – 84%

  Payment Date – July 29

• May 24, 2024 10:22
  

  Stock Market Live Today: Sensex down 119.41 pts, Nifty falls 40.10 pts

  BSE Sensex declines by 119.41 pts or 0.16% at 75,298.63 as of 10.10 am, and Nifty 50 drops by 40.10 pts or 0.17% at 22,927.55.

• May 24, 2024 10:03
  

  Stock Market Live Today: ITC stock dips as Q4 profit falls 1.31% YoY

  ITC stock trades at ₹439.25 on the NSE, down by 0.48%. The company reported a 1.31% y-o-y fall in its standalone net profit to ₹5,020.20 crore for the fourth quarter of FY24 as against ₹5,086.86 crore in Q4 FY23.

• May 24, 2024 09:46
  

  Buzzing stocks: Bharat Dynamics hits a 52-week high at ₹1,658.95 on the NSE. Currently trades at ₹1,597.95, higher by 13.71%.

• May 24, 2024 09:40
  

  Share market live news: IndiGo stock has hit a new high on the NSE at ₹4,529. Currently trades at ₹4,418.95, up 0.42%.

• May 24, 2024 09:39
  

  Stock market live news: Biocon’s stock surges 3.09% on the NSE, trading at ₹325.25.

  Biocon has announced the signing of licensing and supply agreement with Handok, a speciality pharmaceutical company in South Korea, for the commercialisation of its vertically integrated, complex drug product, Synthetic Liraglutide.

• May 24, 2024 09:38
  

  Share market live news: DroneAcharya Aerial Innovations Limited’s stock rises 1.68% on the BSE, trading at ₹141.95.

  DroneAcharya Aerial Innovations Limited and Airbots Aerospace Technologies Private Limited announced through a Memorandum of Understanding (MOU) to bolster joint efforts in the drone industry.

• May 24, 2024 09:33
  

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

  Top gainers on the NSE at 9.30 am on the NSE:

  Hindalco (1.39%), Divi’s Lab (1.14%), Bajaj Finance (1.11%), L&T (0.99%), SBI (0.89%)

  Top losers:

  Coal India (-1.39%), Shriram Finance (-1.02%), M&M (-0.86%), Hero Motocorp (-0.71%), Apollo Hospitals (-0.71%)

• May 24, 2024 09:23
  

  Share market live news: HCLTech had announced that it will extend partnership with Hewlett Packard Enterprise.

• May 24, 2024 09:18
  

  Opening Bell: Sensex, Nifty open in red; Vodafone Idea in focus

  India’s equity benchmarks BSE Sensex and NSE Nifty opened in the red on Friday. At 9.16 am, the indices lost around 0.15% each. UBS upgrades rating on Vodafone Idea (VIL) from Neutral to Buy with a new price target of ₹18. The stock gained over 3% in the opening trade.

• May 24, 2024 09:14
  

  Market live news: Crude oil futures remained steady on Friday morning following strong demand for gasoline in the US market.

  At 9.12 am on Friday, July Brent oil futures were at $81.39, up by 0.04 per cent, and July crude oil futures on WTI (West Texas Intermediate) were at $76.88, up by 0.01 per cent. June crude oil futures were trading at ₹6412 on Multi Commodity Exchange (MCX) during the initial hour of trading on Friday morning against the previous close of ₹6397, up by 0.23 per cent, and July futures were trading at ₹6406 against the previous close of ₹6394, up by 0.19 per cent.

• May 24, 2024 09:14
  

  Market live news: After RBI bonanza, govt to rake it in from spectrum, mine sale

  After a record surplus transfer from the Reserve Bank of India (RBI), there is more good news in store for the central government. Spectrum and critical mineral auctions are expected to bring in cash flows in the first half of the current fiscal. Additionally, good performance by the Central Public Sector Enterprises (CPSE) and Public Sector Banks (PSBs) will yield rich dividends, further bolstering the public exchequer.

  These numbers are likely to be factored in the full budget expected in July after the new government is sworn in. There is also expectation that fiscal deficit for FY25, as projected in the interim budget, will also be revised. The interim budget has projected fiscal deficit at 5.1 per cent.

• May 24, 2024 09:05
  

  Stocks in news: Cello World

  Cello World–Management Commentary

  The company anticipates a growth rate of 15%-17% for FY25, with increased demand expected in the second half. 

  Their new glassware facility in Rajasthan will start operations in Q2 FY25 and ramp up by year-end, significantly boosting their glassware business. 

  Furthermore, new opportunities in e-commerce are expected to drive future growth.

• May 24, 2024 08:56
  

  Share market live news: IndiGo profit soars making record profits in FY24; to have business class soon

  IndiGo reported a net profit of ₹1,894.8 crore for the quarter, almost beating analysts’ expectations of ₹1,900 crore. This profit builds on a record-breaking year for the company, with a full-year profit of ₹8,172 crore. It marks a significant turnaround from a loss of over ₹300 crore in the previous fiscal year. This is the sixth consecutive profitable quarter for the airline, driven by robust passenger demand despite rising fuel prices.

• May 24, 2024 08:54
  

  Share market live news: Madras High Court rejects Infosys’ petition for subsidised power tariff

  The Madras High Court has rejected Infosys’ writ petition seeking subsidised industrial electricity rates for their commercial activities. The court directed the IT major to pay the current consumption charges at the commercial tariff rate for its office located in Mahindra World City, Paranur village (Chengalpattu).

• May 24, 2024 08:48
  

  Stocks in news: Biocon signs exclusive licensing, supply deal for commercialisation of Liraglutide in South Korea

• May 24, 2024 08:47
  

  Share market live news: Merger of BSE, NSE arms at Gift IFSC nixed

  The merger between India INX and NSE IX, the two stock exchange arms of BSE and National Stock Exchange operating at the International Financial Services Centre, has been called off, more than a year after talks began.

  A BSE spokesperson said the discussions had gone on for a while and the bourse had decided to call off the merger. An email sent to NSE did not get a response.

  “The BSE board has not agreed to the merger. Their board went through the proposal in great detail and communicated that they see value in investing in the exchange and growing products. As long as they are ready to invest, we are also fine with the decision,” said K Rajaraman, Chairman, International Financial Services Centres Authority (IFSCA).

• May 24, 2024 08:45
  

  Stock market live news: Key economic data slated for release today

  German Final GDP q/q from Euro Zone, Retail Sales m/m from GBP Zone and Core Durable Goods Orders m/m, Durable Goods Orders m/m, Revised UoM Consumer Sentiment from the US Zone.

• May 24, 2024 08:44
  

  Market live news: Gold down at $2328, Silver dips to $30.28

  Gold fell to approximately $2,330, hitting two-week lows and on track for its first weekly decrease in three months, as investors downgraded expectations of Fed rate cuts following the previous US economic release. S&P Global’s May flash readings of the manufacturing, services, and composite PMIs reveal that US economic activity is increasing. At the same time, the number of Americans filing jobless claims was lower than predicted, indicating that the labour market is strong. This followed the Fed’s May meeting minutes, which highlighted lingering concerns over sticky inflation, with some members suggesting a willingness to raise interest rates if price growth continued. 

  Silver prices declined as the currency remained relatively stable on speculations that the US central bank will hold interest rates higher for longer than previously expected. According to the minutes of the Federal Reserve’s most recent policy meeting, officials contemplated raising interest rates further if inflation remained sticky. The Fed meeting minutes revealed that officials were displeased with recent inflation readings and believed “disinflation would likely take longer than previously thought.” Adding to the rate fears, the Labour Department released a report this morning showing that first-time claims for U.S. unemployment benefits declined more than expected in the week ending May 18th. The Labour Department said that initial unemployment claims fell to 215,000, down 8,000 from the previous week’s revised total of 223,000.

• May 24, 2024 08:43
  

  Share market live news: Pre-opening market comment by Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd

  “GIFT Nifty is facing bearish pressure this Friday morning, opening at 22960, down by 55 points. Yesterday, Nifty neared the 23,000 mark, driven by investor optimism about the current regime’s continuation in the upcoming general elections. 

  “However, Wall Street’s decline due to a hotter-than-expected manufacturing survey and concerns over the Federal Reserve’s interest rate decisions have dampened market sentiments. With the India VIX rising above 21, indicating increased volatility, the strategy is to stay nimble. Nifty’s key support is at 22507. Recommended trades are to sell Nifty at 22968 with a target of 22507 and Bank Nifty at 48769 with a target of 48300. Consider buying Patel Engineering at CMP 65 for targets of 79 and 89, as a momentum play.”

• May 24, 2024 08:37
  

  Share market live news: Fund Houses Recommendations

  Nuvama on Indigo: Maintain Buy on Company, target price at Rs 5192/Sh (Positive)

  MS on Indigo: Maintain Overweight on Company, raise target price at Rs 5142/Sh (Positive)

  BofA on Indigo: Maintain Buy on Company, raise target price at Rs 4900/Sh (Positive)

  UBS on Vodafone Idea: Upgrade to Buy on Company, raise target price at Rs 18/Sh (Positive)

  Investec on BSE: Initiate Buy on Company, target price at Rs 3400/Sh (Positive)

  UBS on Airtel: Maintain Neutral on Company, raise target price at Rs 1430/Sh (Positive)

  UBS on Indus Tower: Maintain Neutral on Company, raise target price at Rs 355/Sh (Positive)

  MS on HCL Tech: Maintain Overweight on Company, target price at Rs 1650/Sh (Positive)

  MS on ITC: Maintain Overweight on Company, target price at Rs 506/Sh (Positive)

  Citi on ITC: Maintain Buy on Company, raise target price at Rs 515/Sh (Positive)

  Investec on ITC: Maintain Buy on Company, raise target price at Rs 504/Sh (Positive)

  CLSA on ITC: Maintain Outperform on Company, target price at Rs 470/Sh (Positive)

  GS on ITC: Maintain Buy on Company, target price at Rs 480/Sh (Neutral)

  Jefferies on ITC: Maintain Hold on Company, target price at Rs 435/Sh (Neutral)

  GS on Info Edge: Maintain Sell on Company, target price at Rs 5260/Sh (Neutral)

  Jefferies on Indigo: Maintain Hold on Company, target price at Rs 4150/Sh (Neutral)

  Investec on Indigo: Maintain Hold on Company, target price at Rs 4050/Sh (Neutral)

  Emkay on Go Digit: Initiate Sell on Company, target price at Rs 210/Sh (Neutral)

  GS on GPPL: Downgrade to Neutral on Company, raise target price at Rs 220/Sh (Neutral)

  MS on Page Ind: Maintain Overweight on Company, target price at Rs 41222/Sh (Neutral)

  MS on PI Ind: Maintain Underweight on Company, target price at Rs 3245/Sh (Neutral)

  Citi on Page Ind: Maintain Sell on Company, target price at Rs 32100/Sh (Negative)

• May 24, 2024 08:29
  

  Share market live news: Sensex, Nifty set for muted start as US data adds to rate cut woes

  India’s equity benchmarks BSE Sensex and NSE Nifty50 are set for a muted start on Friday, after notching up record highs in the previous session, as robust economic data in the US dampened hopes of early interest rate cuts.

  The Gift Nifty was trading at 22,975 as of 7:58 a.m., indicating the Nifty 50 will open near Thursday’s close of 22,967.65.

  Indian benchmarks closed at all-time high levels, and posted their best session since March 1 on Thursday, as the central bank’s record dividend to the government boosted financials.

• May 24, 2024 08:00
  

  Share market live news: Dividend Dates

  Stovec Industries Ltd.

  Dividend Per Share Rs.115

  Previous day Closing Price – Rs. 3709.8

  Ex-Dividend 27 May 2024 (Monday)

  Last date for Cum-Dividend Today

• May 24, 2024 07:50
  

  Market live news: Stocks in focus today

  SML Isuzu: Net profit at Rs 52 cr vs Rs 27 cr, Revenue at Rs 680 cr vs Rs 583 cr. (YoY)

  JK Lakshmi Cement: Net profit at Rs 162.1 cr vs Rs 114.8 cr, Revenue at Rs 1780 cr vs Rs 1862 cr. (YoY) 

  Honasa Consumer: Net profit at Rs 30 cr vs loss of Rs 162 cr, Revenue at Rs 471 cr vs Rs 388 cr. (YoY) 

  Sandhar Tech: Net profit at Rs 35.9 cr vs Rs 24.7 cr, Revenue at Rs 918 cr vs Rs 765 cr. (YoY) 

  ICRA: Net profit at Rs 47.0 cr vs of Rs 38.4 cr, Revenue at Rs 124.0 cr vs Rs 109.0 cr. (YoY) 

  Bikaji: Net profit at Rs 116.0 cr vs of Rs 38.0 cr, Revenue at Rs 521.0 cr vs Rs 462.0 cr. (YoY)

  Fortis: Net profit at Rs 179.0 cr vs of Rs 133.0 cr, Revenue at Rs 1786.0 cr vs Rs 1643.0 cr. (YoY) 

  Shilpa Med: Net profit at Rs 24.5 cr vs loss Rs 8.1 cr, Revenue at Rs 292 cr vs Rs 264 cr. (YoY) 

  Johnson Control: Net profit at Rs 48.8 cr vs loss Rs 1.0 cr, Revenue at Rs 771 cr vs Rs 548 cr. (YoY) 

  HCL Tech: Company said it will acquire certain assets of Hewlett Packard Enterprise’s Communications Technology Group (CTG) for $225 million, about Rs 1,874 crore 

  Zaggle: Net profit at Rs 19.2 cr vs Rs 7.6 cr, Revenue at Rs 272 cr vs Rs 187 cr. (YoY)

  Indo Tech: Net profit at Rs 25.7 cr vs Rs 19.4 cr, Revenue at Rs 175 cr vs Rs 147 cr. (YoY) 

  Disa India: Net profit at Rs 13.1 cr vs Rs 10.0 cr, Revenue at Rs 96.4 cr vs Rs 76.3 cr. (YoY) 

  Sharda Motors: Net profit at Rs 88.3 cr vs Rs 62.1 cr, Revenue at Rs 703 cr vs Rs 688 cr. (YoY) 

  Senco Gold: Net profit at Rs 32.2 cr vs Rs 26.0 cr, Revenue at Rs 1137 cr vs Rs 814 cr. (YoY)

  Barbeque Nation: Net loss at Rs 0.04 cr vs loss Rs 11.8 cr, Revenue at Rs 298 cr vs Rs 280 cr. (YoY).

  Delhivery: Company partners with SUGAR Cosmetics to spearhead its pan-India B2B distribution 

  Godrej Properties: Company achieves record sales of over Rs 2,000 crore in Noida project, selling 650 flats.

  UPL: Company signs joint venture agreement with Aarti Industries for manufacturing and marketing of specialty chemicals that has applications in multiple downstream industries 

  Uno Minda: Company says post expansion, capacity of 2w alloy wheel will get enhanced to 7.5 to 8 MN wheels per annum. 

  Shakti Pumps: Company has received 14th patent for Method and Apparatus for Soft Start, Soft Stop, Protection and Brown Out Operation of a Grid Connected Motor from the Patent Office, Government of India.

  Tech Mahindra: Company with Fuji TV join forces to create global content. 

  Navin Fluorine: Company unit executed five year material supply agreement for supply of a fluoro intermediate for novel agrochemical product, investment required at 150m rupees

  Vodafone Idea: Company says in talks with Ericsson, others for 5G network gears

  ITC: Company seeks shareholders’ approval on June 6 for hotels business demerger 

  Sun Pharma: Company’s shareholders approve merger agreement with Taro Pharma

  Concord Biotech: Net profit at Rs 95 cr vs Rs 91 cr, Revenue at Rs 319 cr vs Rs 273 cr. (YoY) 

  TD Power: Net profit at Rs 29 cr vs Rs 35 cr, Revenue at Rs 264 cr vs Rs 250 cr. (YoY) 

  Asian Granito: Net loss at Rs 5.56 cr vs Rs 48.17 cr, Revenue at Rs 424 cr vs Rs 456 cr. (YoY) 

  Finolex Cables: Net profit at Rs 186 cr vs Rs 175 cr, Revenue at Rs 1401 cr vs Rs 1224 cr. (YoY) 

  Rupa: Net profit at Rs 24 cr vs Rs 18.8 cr, Revenue at Rs 405 cr vs Rs 412 cr. (YoY) 

  IndiGo: Net profit at Rs 1895 cr vs Rs 916 cr, Revenue at Rs 17,825 cr vs Rs 14,160 cr. (YoY) 

  Barbeque Nation: Net loss at Rs 0.04 cr vs loss Rs 11.8 cr, Revenue at Rs 298 cr vs Rs 280 cr. (YoY). 

  Schneider Electric: Net profit at Rs 3 cr vs Rs 45 cr, Revenue at Rs 472 cr vs Rs 411 cr. (YoY) 

  CESC: Net profit at Rs 415 cr vs Rs 445 cr, Revenue at Rs 3387 cr vs Rs 3102 cr. (YoY)

  Cello World: Net profit at Rs 96.1 cr vs Rs 90.6 cr, Revenue at Rs 512 cr vs Rs 527 cr. (YoY)

  Puravankara: Net loss at Rs 7 cr vs profit of Rs 27 cr, Revenue at Rs 920 cr vs Rs 389 cr. (YoY) 

  GMM : Net profit at Rs 28 cr vs Rs 33 cr, Revenue at Rs 741 cr vs Rs 866 cr. (YoY) 

  Time Techno: Net profit at Rs 94.0 cr vs Rs 65.0 cr, Revenue at Rs 1394 cr vs Rs 1192 cr. (YoY)

  Zee Entertainment: Company seeks termination fee of $90 million from CulverMax and Bangla Entertainment. 

  Reliance Industries: Company and Walt Disney have sought antitrust clearance for their $8.5 billion India media merger

  Sterlite Power: Company receives stakeholders’ approval to demerge transmission business.

  Page Industries: Company declares Rs 120 per share Dividend Record date on May 31. 

  Adani enterprises: Company board meeting on May 28 to consider proposal of raising of funds by way of issuance equity shares or any other eligible securities 

  Reliance Capital: Company administrator seeks 90-day extension from NCLT for resolution plan deadline set for Hinduja Group.

  RPSG: Net loss at Rs 94.78 cr vs Rs 132.15 cr, Revenue at Rs 202 cr vs Rs 1792 cr. (YoY)

  GMM : Net profit at Rs 28 cr vs Rs 33 cr, Revenue at Rs 741 cr vs Rs 866 cr. (YoY) 

  ICICI Lombard: Company has received a GST show-cause notice worth ₹288 crore for fiscal year 2020

• May 24, 2024 07:27
  

  Share market live news: UBS upgrades rating on Vodafone Idea (VIL) from Neutral to Buy with a new price target of ₹18

  ​Vodafone Idea​ share closed 4.07% higher at ₹​ 14.05 on the BSE on Thursday.​

• May 24, 2024 07:22
  

  Share market live news: Investec’s take on BSE Ltd

  Initiating long FAST

  BSE Ltd has clocked strong volume growth in equity derivatives, capturing ~8.6% of premium market share in April’24. However, the stock has corrected 17% over the past month due to concerns around regulatory risks w.r.t. F&O post elections/budget. While we acknowledge these concerns, we believe BSE benefits from market share tailwinds and margin triggers, offering stability to its earnings. 

  Additionally, positive regulatory developments, including the unbundling of clearing charges, increased cash volumes after single VWAP, and higher co-location income should bolster profitability in FY25e. We believe valuations at 30x FY26E earnings are attractive, given our forecast of 40% earnings CAGR (FY24-26e) while maintaining a RoE of 30%+. We initiate long FAST on BSE.

• May 24, 2024 07:21
  

  Share market live news: Researchbytes Analyst updates

  Recent Interview

  As of 18:36 PM Thursday 23 May 2024

  Carysil Ltd: Chirag Parekh, Carysil

  Will Reach ₹,000 Cr Revenue Run Rate By Q3-Q4 Of FY25: Carysil

  Arvind Fashions : Kulin Lalbhai, Director

  Seeing Good Demand Momentum In Premium Brands Like Tommy Hilfiger & Calvin Klein: Arvind Fashions

  Bata India: Gunjan Shah, CEO

  In Conversation With CEO Of Bata India

  CAMS: Anuj Kumar, CEO

  Cams: Healthy Margins In Q4, What Factors Aided The Performance Of The Business? | Anuj Kumar

  DB Corp: Girish agrawal, Promoter & Director

  DB Corp: Healthy Uptake In Q4, Where Will Margins Sustain In Future? | Girish Agarwal

  Go Digit Genera: Kamesh Goyal, Founder and Chairman

  Looking At General Insurance Business For The Long Term: Go Digit Insurance

  HEG: Manish Gulati, ED

  HEG GreenTech EBITDA Will Move Towards ₹1000 Cr In 2-3 Years: HEG

  Indian Energy Exchange: Satyanarayan Goel Chairman, Satyanarayan Goel Chairman

  IEX: How Severe Heatwave Is Impacting Demand? | Volume Growth, FY25 Business Outlook & More| SN Goel

  Indigo Paint: Hemant Jalan, CMD

  Indigo Paints Q4: Aims 3-4x Revenue Vs Industry, Gross & EBITDA Margins Outlook | Hemant Jalan

  Petronet LNG: Akshay Kumar Singh, MD&CEO

  Expect Kochi Terminal To Be Connected To Gas Grid By Nov 2024: Petronet LNG

  Events today

  https://www.researchbytes.com/Default.aspx?cc=event

  Results today

  https://www.researchbytes.com/Default.aspx?cc=result

• May 24, 2024 07:19
  

  Stock market overview 23/05/24

  📌 Market Levels

  BSE Sensex: 75418.04 (+1196.98)

  Nifty 50: 22967.75 (+369.85)

  NIFTY MID CAP 100: 52418.55 (+251.05)

  NIFTY SMALL CAP 100: 16911.90 (+31.40)

  📌 Index PE & PBV

  SENSEX PE / PBV : 24.15 / 3.61

  NIFTY 50 PE / PBV : 

  21.90 / 4.03

  NIFTY MIDCAP 100 PE / PBV : 36.31 / 4.61

  NIFTY SMALLCAP 100 PE / PBV : 26.58 / 4.04

  📌 Inflow/Outflow (Daily/MTD) 

  FII / FPI Activity: 4670.95 crs / (33,514.55 Crs)

  DII Activity: 146.51 crs / 38,477.57 crs

  📌 Volatility Index

  India VIX – 21.38

  📌 Commodities

  Brent Crude: $82.47

  Gold USD Oz/10 gm: $2367.96 = INR 72444

  Silver: INR 91496

  📌 Currency

  Rs/$: 83.28

  US Dollar Index (DXY) – 104.72

  📌 10 Year Yield

  7.18% GOI 2033: 7.04% (Old)

  7.10% GOI 2034: 6.99% (New)

  US 10 Yr Yield – 4.43%

• May 24, 2024 07:18
  

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

  Steel Strips Wheels Ltd. | CMP Rs. 224 | M Cap Rs. 3512 Cr | 52 W H/L 299/146

  (Nirmal Bang Retail Research)

  Result has declined

  Revenue from Operations came at Rs. 1068.7 Cr (-3.7% QoQ, 6.3% YoY) vs QoQ Rs. 1110.3 Cr, YoY Rs. 1004.9 Cr

  EBIDTA came at Rs. 109.9 Cr (-5.8% QoQ, 1.3% YoY) vs QoQ Rs. 116.7 Cr, YoY Rs. 108.5 Cr

  EBITDA Margin came at 10.3% vs QoQ 10.5%, YoY 10.8%

  Adj. PAT came at Rs. 42.5 Cr vs QoQ Rs. 59.4 Cr, YoY Rs. 47.3 Cr

  Quarter EPS is Rs. 2.7

  Stock is trading at P/E of 12.4x FY25E EPS

  Ashoka Buildcon Ltd. | CMP Rs. 182 | M Cap Rs. 5105 Cr | 52 W H/L 196/75

  (Nirmal Bang Retail Research)

  Result is below expectations

  Revenue from Operations came at Rs. 2499.8 Cr (17.2% QoQ, 22.3% YoY) vs expectation of Rs. 2208.8 Cr, QoQ Rs. 2133.5 Cr, YoY Rs. 2043.5 Cr

  EBIDTA came at Rs. 185.9 Cr (5.3% QoQ, 23.8% YoY) vs expectation of Rs. 201.2 Cr, QoQ Rs. 176.5 Cr, YoY Rs. 150.1 Cr

  EBITDA Margin came at 7.4% vs expectation of 9.1%, QoQ 8.3%, YoY 7.3%

  Adj. PAT came at Rs. 268.5 Cr vs expectation of Rs. 107.5 Cr, QoQ Rs. 86.7 Cr, YoY Rs. 85.6 Cr

  Quarter EPS is Rs. 9.6

  Stock is trading at P/E of 11.5x TTM EPS

  UNO Minda Ltd. | CMP Rs. 816 | M Cap Rs. 46842 Cr | 52 W H/L 816/501

  (Nirmal Bang Retail Research)

  Result Ahead of Expectation

  Revenue from Operations came at Rs. 3794 Cr (7.7% QoQ, 31.3% YoY) vs expectation of Rs. 3741.7 Cr, QoQ Rs. 3522.9 Cr, YoY Rs. 2889 Cr

  EBIDTA came at Rs. 474 Cr (24.9% QoQ, 48.5% YoY) vs expectation of Rs. 422.4 Cr, QoQ Rs. 379.6 Cr, YoY Rs. 319.3 Cr

  EBITDA Margin came at 12.5% vs expectation of 11.3%, QoQ 10.8%, YoY 11.1%

  Adj. PAT came at Rs. 262.5 Cr vs expectation of Rs. 233.5 Cr, QoQ Rs. 193.5 Cr, YoY Rs. 182.7 Cr

  Quarter EPS is Rs. 4.6

  Stock is trading at P/E of 44.8x FY25E EPS

  Ganesha Ecosphere Ltd. | CMP Rs. 1133 | M Cap Rs. 2872 Cr | 52 W H/L 1182/811

  (Nirmal Bang Retail Research)

  Result improved

  Revenue from Operations came at Rs. 305.5 Cr (7.3% QoQ, 1.3% YoY) vs QoQ Rs. 284.8 Cr, YoY Rs. 301.5 Cr

  EBIDTA came at Rs. 47.1 Cr (17.7% QoQ, 39.6% YoY) vs QoQ Rs. 40 Cr, YoY Rs. 33.7 Cr

  EBITDA Margin came at 15.4% vs QoQ 14%, YoY 11.2%

  Adj. PAT came at Rs. 21.6 Cr vs QoQ Rs. 12.7 Cr, YoY Rs. 15.4 Cr

  Quarter EPS is Rs. 8.5

  Stock is trading at P/E of 70.8x TTM EPS

  Steel Strips Wheels Ltd. | CMP Rs. 224 | M Cap Rs. 3512 Cr | 52 W H/L 299/146

  (Nirmal Bang Retail Research)

  Result has declined

  Revenue from Operations came at Rs. 1068.7 Cr (-3.7% QoQ, 6.3% YoY) vs QoQ Rs. 1110.3 Cr, YoY Rs. 1004.9 Cr

  EBIDTA came at Rs. 109.9 Cr (-5.8% QoQ, 1.3% YoY) vs QoQ Rs. 116.7 Cr, YoY Rs. 108.5 Cr

  EBITDA Margin came at 10.3% vs QoQ 10.5%, YoY 10.8%

  Adj. PAT came at Rs. 42.5 Cr vs QoQ Rs. 59.4 Cr, YoY Rs. 47.3 Cr

  Quarter EPS is Rs. 2.7

  Stock is trading at P/E of 12.4x FY25E EPS

  Yatharth Hospital & Trauma Care Services Ltd. | CMP Rs. 463 | M Cap Rs. 3974 Cr | 52 W H/L 505/304

  (Nirmal Bang Retail Research)

  Result is broadly in-line with expectations

  Revenue from Operations came at Rs. 177.8 Cr (6.6% QoQ, 23.6% YoY) vs expectation of Rs. 172.3 Cr, QoQ Rs. 166.8 Cr, YoY Rs. 143.8 Cr

  EBIDTA came at Rs. 46.5 Cr (0.2% QoQ, 20.9% YoY) vs expectation of Rs. 45.8 Cr, QoQ Rs. 46.4 Cr, YoY Rs. 38.5 Cr

  EBITDA Margin came at 26.2% vs expectation of 26.6%, QoQ 27.8%, YoY 26.8%

  Adj. PAT came at Rs. 38.3 Cr vs expectation of Rs. 30.5 Cr, QoQ Rs. 29.5 Cr, YoY Rs. 17.3 Cr

  Quarter EPS is Rs. 4.5

  Stock is trading at P/E of 31.6x FY25E EPS

• May 24, 2024 07:16
  

  Stock market live news: Securities in F&O Ban For Trade Date 24-May-2024

  * ABCAPITAL

  * BANDHANBANK

  * BALRAMCHIN

  * HINDCOPPER

  * INDIACEM

  * IEX

  * METROPOLIS

  * NATIONALUM

  * PEL

  * PNB

  * ZEEL

• May 24, 2024 07:11
  

  Share market live news: Major US listed stocks result calendar 24.05.2024

  Booz Allen Hamilton Holding Corporation (Pre market) (Sector- Technology)

• May 24, 2024 07:10
  

  Global markets: Economic Calendar – 24.05.2024

  11:30 EURO German Final GDP q/q (Expected: 0.2% versus Previous: 0.2%)

  11:30 U.K. Retail Sales y/y (Expected: -0.5% versus Previous: 0.0%)

  18:00 U.S. Durable Goods Orders m/m (Expected: -0.9% versus Previous:0.9%)

  19:30 U.S. Revised UoM Consumer Sentiment (Expected: 67.8 versus Previous: 67.4)

  Economic Calendar – 27.05.2024

  U.S. and U.K. Market Holiday

  05.35 JAPAN BOJ Gov Ueda Speaks

• May 24, 2024 06:58
  

  Stocks in focus today: Taro shareholders approve merger with Sun Pharma, ending long-drawn feud

  Shareholders of Taro Pharmaceutical Industries have approved a merger agreement with Sun Pharmaceutical Industries, bringing to a close, an over 10-year-long publicly fought feud between the companies.

  The merger agreement received an affirmative vote from Taro shareholders (including a vote of the majority of shares held by Taro shareholders unaffiliated with Sun Pharma) at an Extraordinary General Meeting and an Ordinary Class Meeting on May 22, 2024, the two companies said on Thursday.

• May 24, 2024 06:46
  

  Stock market live updates: Day trading guide for May 24, 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 24, 2024 06:40
  

  Share market live news: Stock to buy today: Hindalco Industries (₹676.6)

  The stock of Hindalco Industries, which is on a long-term uptrend, began its latest leg of the rally in March. It started to appreciate on the back of the support at ₹500. Early this week, Hindalco Industries’ share price saw a fresh breakout hitting a record high of ₹699.5.

  But the price has moderated in the last two sessions. However, the overall trend is bullish, and the price drop is only a corrective one. We expect the stock to resume the rally and touch ₹720 in the near term.