Stock Market Live Updates – 27th March 2024: Asian stocks rise despite US weakness

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 27 March 2024 

• March 27, 2024 09:53
  

  Stock Market Live Today: Sanofi India and Cipla partner for CNS product range; Cipla stock slides, Sanofi stock rises

  Sanofi India Limited, Sanofi Healthcare India Private Limited and Cipla Limited had announced partnership for distribution and promotion of Sanofi India’s Central Nervous System (CNS) product range in India. 

  Cipla stock slides down by 0.06% on the NSE, trading at ₹1,471.40. Sanofi India stock rises 2.20%, trading at ₹7,877.65.

• March 27, 2024 09:52
  

  Stock Market Live Today: Stock in Focus: ABB India stock hits all time high at 6,341.90. Currently trades higher by 6.77% at ₹6,331.25.

• March 27, 2024 09:49
  

  Stock Market Live Today: Aster DM Healthcare stock falls 5.94% on the NSE, trading at ₹411.25.

• March 27, 2024 09:48
  

  Stock Market Live Today: Stock Recommendations: JM Financial on Adani Ports & SEZ – Maintain BUY 

  Gopalpur acquisition – Strengthening presence at East coast

  Company Update – Achal Lohade BUY ₹1,460

  APSEZ announced acquisition of 95% stake in Gopalpur Port (GPL) at an EV of INR 30.8bn (13xFY24 EV/EBITDA; 10xFY25 EV/EBITDA). GPL is a bulk port, located on the East cost of India with 20mntpa handling capacity, 30 year concession (extendable upto 2056) and over 500acres of leased land parcel. Given APSEZ’s expertise in ramping up volume and improving EBITDA margins through cost/ operational efficiencies and de-bottlenecking, we believe GPL will be a value accretive acquisition for the company. GPL acquisition, though a small one (less than 3% of APSEZ consolidated volumes), will be 6th port on east coast (Dhamra, Gangavaram, Krishnapatnam, Kattupalli and Ennore) and will further deepen its reach in long term. We bake in GPL acquisition in estimate with revise Mar’25TP INR1460 (earlier INR1430). Maintain BUY

• March 27, 2024 09:41
  

  Stock Market Live Today: Gensol Engineering appoints Kapil K Nirmal as CEO, Middle East; shares decline 3.74%

  Gensol Engineering Ltd. has appointed Kapil K Nirmal as CEO, Middle East to lead its solar EPC business operations.

  Shares decline 3.74% on the NSE, trading at ₹923.40.

• March 27, 2024 09:38
  

  Stock Market Live Today: Nifty & Sensex derivatives expire tomorrow, as March 29 is holiday on account of Good Friday

• March 27, 2024 09:37
  

  Stock Market Live Today: CRISIL upgrades Suzlon Energy ratings, positive impact expected on stock

  SUZLON: CRISIL upgrades Suzlon Energy Limited ratings to ‘CRISIL A- / Positive /CRISIL A2+’ from ‘CRISIL BBB+ / Positive / CRISIL A2’ 

• March 27, 2024 09:36
  

  Stock Market Live Today @ 9.33 a.m.: BSE Sensex rises 349.22 Points, Nifty 50 up by 106.25 points

  BSE Sensex rises 349.22 pts or 0.48% to trade at 72,819.52 as of 9.33 am and Nifty 50 is up by 106.25 pts or 0.48% to trade at 22,110.95.

• March 27, 2024 09:35
  

  Stock Market Live Today: Reliance Power subsidiaries sign debt settlement Agreement, shares decline 1.31%

  Reliance Power subsidiaries, Kalai Power Private Limited and Reliance Cleangen Limited, for the purpose of debt settlement, have signed a Debt Settlement and Discharge Agreement with the wholly-owned subsidiary of Authum Investment and Infrastructure Limited – RCFL on March 26, 2024, in settlement of the entire obligations with respect to their outstanding consolidated debt of ₹1023 crore. 

  Shares declined 1.31% on the BSE, trading at ₹27.22

• March 27, 2024 09:35
  

  Nifty Today: Major gainers, losers at 9.30 a.m.

  Major gainers on the NSE at 9.30 am:

  Reliance (2%), BPCL (1.68%), Adani Ports (1.52%), Maruti (1.31%), ONGC (0.94%)

  Major losers:

  UPL (-0.82%), Apollo Hospitals (-0.37%), Infosys (-0.31%), Wipro (-0.29%), Divi’s Lab (-0.25%)

• March 27, 2024 09:34
  

  Stock Market Live Today: Adani Green Energy commissions 180 MW solar plant in Rajasthan; stock gains over 1%

  Adani Green Energy Limited (AGEL) has commissioned a 180 MW solar power plant at Devikot in Jaisalmer, Rajasthan. The plant has a 25-year power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI).

  Shares rise 1.24% on the NSE, trading at ₹1,882.

• March 27, 2024 09:27
  

  Stock Market Live Today: Stock Recommendations: Shree Cement: Expanding footprint largely in existing markets

  MOFSL

  – Shree Cement (SRCM) has been consistent in capacity expansion (mostly through organic routes), with a capacity CAGR of ~12% over FY14-24. The company plans to increase its grinding capacity organically at a similar CAGR over FY24-27E to reach 65mtpa/75mtpa by FY26E/FY27E. However, most of these expansions will focus on its existing markets and a large part of Central and West regions will remain untapped till FY27E.

  – SRCM is one of the lowest-cost producers in the cement industry. Now, it is also focusing on improving brand equity by enhancing consumer pull for its products in the market, and increasing premium product share.

  – We cut EBITDA estimates for FY25/26 by 5% (each) due to pricing pressure (all-India average cement price declined 5- 6% QoQ in 4QFY24E). The stock currently trades at 18x/16x FY25E/FY26E EV/EBITDA. We reiterate our Neutral rating and value SRCM at 17x FY26E EV/EBITDA to arrive at our TP of INR27,700.

• March 27, 2024 09:26
  

  Commodities Market Live Today: US crude oil inventories rise the most since February 2023

  Crude oil stockpiles in the United States increased by 9.337 million barrels in the week ending March 22, 2024, after falling by 1.519 million barrels the previous week, according to the API’s Weekly Statistical Bulletin. Crude oil stockpiles increased considerably, marking the highest weekly rise since mid-February 2023 and reversing a two-week dip.

• March 27, 2024 09:26
  

  Stock Market Live Today: Motilal Oswal files draft prospectus for ₹500 Crore NCD issuance

  Motilal Oswal Financial Services Ltd has filed draft prospectus for public issuance of secured, redeemable, NCDs of face value of ₹1,000 each for an amount aggregating up to ₹500 Crore with an option to retain oversubscription up to ₹500 crore aggregating up to 1,00,00,000 NCDs for an amount up to ₹1,000 Crore.

• March 27, 2024 09:24
  

  Stock Market Live Today: OPENING BELL: Sensex and Nifty hold steady near record highs

  Indian equities opened flat on Wednesday as they consolidate near record highs, contrasting with a global trend where a rally has tapered off, driven by optimism about potential U.S. rate cuts this year.

  The 30-share BSE Sensex rose 200.02 points to 72,670.31 in early trade, while the NSE Nifty gained 60.40 points to 22,065.10.

  Asian markets opened lower, with the MSCI ex-Japan down by 0.2%. Wall Street closed lower for the second consecutive session, following its best week in 2024. The Federal Reserve’s commitment to three rate cuts this year helped ease concerns over delays in policy easing after recent higher-than-expected U.S. inflation data.

  Domestic and other Asian equities gained last week after the Fed’s comments on March 20. On Tuesday, the Nifty 50 and BSE Sensex each fell about 0.5%, weighed down by financials and information technology stocks. The IT index has dropped about 3% in the last two sessions following weak commentary from global bellwether Accenture on demand and client spending.

  According to Prashanth Tapse of Mehta Equities, Nifty ended on a negative note due to concerns about the resilience of Nifty bulls amidst headwinds including Federal Reserve rate speculation and weak corporate guidance. Potential support for Nifty bulls lies in foreign institutional buying and global market momentum. Notable market movements include InterGlobe Aviation hitting a record high, Adani Ports’ acquisition, and fluctuations in oil and steel prices. Indian markets will be closed on March 29th for Good Friday. Trading strategies suggest buying opportunities with specific targets and stop-loss levels.

  Analysts anticipate subdued domestic markets, with the Nifty 50 hovering around 22,000 levels in the next two sessions, ahead of the end of fiscal year 2024. 

  According to Shrikant Chouhan, Head Equity Research, Kotak Securities, both the Nifty and Sensex benchmark indices experienced a range-bound movement on Tuesday. The Nifty index closed 92 points lower, while the Sensex index closed 362 points lower. The Nifty Realty index saw a rise of 1.5 per cent, while the Media index saw a decline of over 1 per cent. Technically, the market remained within a range of 21950 to 22075/72300 to 72700, after falling in the intraday range throughout the day. Even on the daily chart, the index formed an inside body candle, which indicates indecision between bullishness and bearishness. Their view is that the market is currently experiencing positive consolidation. For the bulls, a 50-day SMA or 21880/73100 could be the crucial support level. For the day, there could be a gradual weakness if the Nifty remains below 21950.

  Both the Nifty 50 and Sensex are poised for their fourth consecutive quarterly gains, adding about 27% and 23%, respectively, in fiscal 2024. Foreign portfolio investors bought shares worth ₹10.13 crore (about $1.2 million) on a net basis on Tuesday, while domestic institutional investors bought a net ₹5,024 crore of stocks.

• March 27, 2024 09:16
  

  Stock Market Live Today: Market morning inputs by Shrikant Chouhan, Head Equity Research, Kotak Securities.

  On Tuesday, both the Nifty and Sensex benchmark indices experienced a range-bound movement in the market. The Nifty index closed 92 points lower, while the Sensex index closed 362 points lower. The Nifty Realty index saw a rise of 1.5 per cent, while the Media index saw a decline of over 1 per cent. Technically, the market remained within a range of 21950 to 22075/72300 to 72700, after falling in the intraday range throughout the day. Even on the daily chart, the index formed an inside body candle, which indicates indecision between bullishness and bearishness. Our view is that the market is currently experiencing positive consolidation. For the bulls, a 50-day SMA or 21880/73100 could be the crucial support level. For the day, there could be a gradual weakness if the Nifty remains below 21950.

  If the Nifty remains above 22075/72700, it could jump to 22150 or 22200 levels. However, if it falls below 21880, it would retest the levels of 21800 or 21700. For the Bank-Nifty, 46500-46400 could be the support zone. Buying is advisable if it forms a bullish reversal formation.

• March 27, 2024 09:15
  

  Stock Market Live Today: Pre-market views by Avdhut Bagkar of StoxBox.

  On the global front, US Stocks saw modest strength throughout much of the trading day on Tuesday before coming under pressure in the final hour of the session. The major averages all moved to the downside, finishing the day in negative territory. Meanwhile, Asian indices were trading higher in the early trade on Wednesday. On the commodity front, Gold prices climbed on Tuesday, buoyed by a weaker US dollar, while investors waited for data due later in the week to reveal underlying inflation trends that will help gauge the Federal Reserve’s interest-rate stance. In addition, Oil prices were little changed on Tuesday as investors took a more mixed view toward the loss of Russian refinery capacity after recent Ukrainian attacks while a slightly weaker US dollar offered some support. On the economic front, India’s current account deficit narrowed to $10.5 billion, or 1.2% of GDP, in Q3FY24 from $16.8 billion, or 2% of GDP, in the year-ago quarter, the latest RBI data revealed. Among individual stocks, Cipla will be in focus after the pharma firm entered into an exclusive partnership with Sanofi India to boost access to Sanofi’s Central Nervous System (CNS) medications across India. That apart, SpiceJet too may see some action after the low-budget carrier inked an agreement with aircraft lessor Export Development Canada (EDC) to settle liabilities worth Rs. 755 crores. In addition, Standard Chartered Corporate Banking is likely to sell an entire 7.18% stake in Central Depository Services (India) Ltd (CDSL) for $151 million through a block deal. The floor price for the block deal has been fixed at Rs 1,672 per share, which represents a 6.3% discount to the last close of Rs. 1,785 per share. The benchmark Sensex and Nifty indices are likely to open on a negative note on March 27 as trends in the GIFT Nifty indicate a weak start for the broader index.

  The benchmark index commenced the truncated week with selling pressure, opening over 148 points lower. The price action continued to dither between 20 DEMA acting as overhead resistance and 50DMA as immediate and relatively stronger support. The trading session ended with the index trending sideways in a narrow range of 125 points on a relatively lower volume with a 4.9% recovery in VIX. The zone of 22000 to 21700 holds a crucial support zone, and sustenance above it will allow the index to garner bullish strength.

  Supp: 22000-21945-21850

  Res: 22125-22200-22350

• March 27, 2024 09:15
  

  Commodities Market Live Today: Crude oil futures slide on US inventory surge

  Crude oil futures traded lower on Wednesday morning as an industry report showed a significant jump in crude oil inventories in the US. At 9.07 am on Wednesday, June Brent oil futures were at $84.97, down by 0.77 per cent, and May crude oil futures on WTI (West Texas Intermediate) were at $81, down by 0.76 per cent. April crude oil futures were trading at ₹6759 on Multi Commodity Exchange (MCX) during the initial hour of trading on Wednesday morning against the previous close of ₹6817, down by 0.85 per cent, and May futures were trading at ₹6720 against the previous close of ₹6783, down by 0.93 per cent.

• March 27, 2024 08:56
  

  Stock Market Live Today: Bajaj Auto completes buyback of 4 million shares

• March 27, 2024 08:56
  

  Stock Market Live Today: Fund Houses Recommendations  

  GS on Reliance: Maintain Buy on Company, raise target price at Rs 3400/Sh (Positive) 

  Citi on MGL: Upgrade to Neutral on Company, target price at Rs 1405/Sh (Positive) 

  UBS on ABB: Maintain Buy on Company, raise target price at Rs 7550/Sh (Positive) 

  Kotak on ABSL AMC: Upgrade to Add on Company, target price at Rs 500/Sh (Positive) 

  Citi on IOCL: Maintain Buy on Company, target price at Rs 195/sh (Positive) 

  Citi on BPCL: Maintain Buy on Company, target price at Rs 750/sh (Positive) 

  Citi on HPCL: Maintain Buy on Company, target price at Rs 535/sh (Positive) 

  Kotak on Gravita: Initiate Buy on Company, target price at Rs 1200/sh (Positive) 

  Citi on Coal India: Maintain Neutral on Company, target price at Rs 430/Sh (Neutral) 

  Kotak on HDFC AMC: Downgrade to Reduce on Company, raise target price at Rs 3750/sh (Neutral) 

  Kotak on Nippon AMC: Maintain Add on Company, cut target price at Rs 510/Sh (Neutral) 

  Kotak on UTI AMC: Maintain Reduce on Company, cut target price at Rs 880/Sh (Neutral) 

  MOSL on Shree Cem: Maintain Neutral on Company, target price at Rs 27700/Sh (Neutral) 

  CLSA on Crompton Greaves: Downgrade to Outperform from Buy, cut target price at Rs 310/Sh (Neutral)

• March 27, 2024 08:55
  

  Commodities Market Live Today: Silver prices up at $24.41

  Silver held steady as investors looked to Fed members’ speeches and crucial PCE inflation readings this week to determine the probable start of monetary easing. Previously, the US central bank decided to maintain its projection for three interest rate decreases in 2024, enhancing the attraction of owning non-yielding assets. Chicago Fed President Austan Goolsbee stated during the Fed’s policy meeting last week that he had three rate cuts planned for this year. According to the CME Group’s FedWatch Tool, traders expect the Fed to begin reducing interest rates in June with a 72% chance. Investors are now waiting for U.S. core personal consumption expenditure price index data expected on Friday to determine when the Fed will begin decreasing interest rates.

  Economic data slated for release includes Spanish Flash CPI y/y from Euro Zone and Crude Oil Inventories from US Zone.

• March 27, 2024 08:55
  

  Commodities Market Live Today: Gold prices remain firm at $2177

  Gold prices remained solid, aided by lower US Treasury rates, as bullion traded in a limited range as investors remained on the sidelines, waiting for additional clues on Federal Reserve policy. Bond rates in the United States fell modestly following high demand at a $67 billion five-year note auction. Orders for long-lasting U.S. manufactured products rose more than expected in February, while company expenditure on equipment showed early indications of recovery. SPDR Gold Trust reported that its holdings declined 0.62% to 830.15 tonnes in the previous session, from 835.33 tonnes on Monday. Meanwhile, China’s net gold imports via Hong Kong fell by almost 48% in February, reaching their lowest level since November, according to statistics.

  Economic data slated for release includes Spanish Flash CPI y/y from Euro Zone and Crude Oil Inventories from US Zone.

• March 27, 2024 08:54
  

  Forex Market Updates: The Japanese Yen plunges to its lowest against the US dollar since 1990 (Fall in Yen is supportive for Japanese Equity Benchmarks)

• March 27, 2024 08:54
  

  Stock Market Live Today: Stock Split Dates: Ex – Stock Split 28 March 2024 (Tomorrow)

  Last day trade for before split Today

  Dhatre Udyog Ltd

  Stock Split Rs.10/- to Rs.1/-

  Previous day Closing Price – Rs. 229

  Lorenzini Apparels Ltd

  Stock Split Rs.10/- to Rs.1/-

  Previous day Closing Price – Rs. 416.3

  Persistent Systems Ltd.

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

  Previous day Closing Price – Rs. 8063.45

• March 27, 2024 08:53
  

  Stock Market Live Today: Bonus Issue Dates

  Lorenzini Apparels Ltd

  Bonus issue 6:11

  Previous day Closing Price – Rs. 416.3

  Ex Bonus 28 March 2024 (Tomorrow)

  Last date Trade for Before Bonus Today

• March 27, 2024 08:53
  

  Stock Market Live Today: Dividend Dates: Ex-Dividend 28 March 2024 (Tomorrow)

  Last date for Cum-Dividend Today

  Aditya Vision Ltd

  Special Dividend Per Share Rs.5.1

  Previous day Closing Price – Rs. 3302

  Crisil Ltd.

  Dividend Per Share Rs.28

  Previous day Closing Price – Rs. 5115.35

  Housing & Urban Development Corporation Ltd

  Dividend Per Share Rs.1.5

  Previous day Closing Price – Rs. 184.1

  Prithvi Exchange (India) Ltd

  Dividend Per Share Rs.2

  Previous day Closing Price – Rs. 255

  REC Ltd

  Dividend Per Share Rs.4.5

  Previous day Closing Price – Rs. 461.35

  R Systems International Limited

  Dividend Per Share Rs.6

  Previous day Closing Price – Rs. 452.55

  SBI Cards And Payment Services Ltd

  Dividend Per Share Rs.2.5

  Previous day Closing Price – Rs. 696.7

  Standard Industries Ltd.

  Dividend Per Share Rs.0.5

  Previous day Closing Price – Rs. 23.02

  Thinkink Picturez Ltd

  Dividend Per Share Rs.0.1

  Previous day Closing Price – Rs. 36.18

• March 27, 2024 08:44
  

  Stock Market Live Today: Morning Outlook by Deepak Jasani of HDFC Securities

  US stocks surrendered gains in the final 30 minutes of Wall Street trading on Tuesday to close lower for the third straight day, with investors rebalancing their portfolios after a $4 trillion rally this year. Investors awaited economic data in a holiday-shortened week to measure the Federal Reserve’s policy path. The focus remains on a key reading of the Personal Consumption Expenditures Price Index (PCE), the Fed’s preferred inflation gauge. The data is due on Friday, when U.S. markets will be shut for the Good Friday holiday.The index is expected to have risen 0.4% in February and 2.5% annually. With the equity outperformance, pensions would need to sell roughly $22 billion in global stocks and buy $17 billion of fixed income in order to return to prior asset allocation levels, according to a recent estimate from Morgan Stanley.

  Cocoa futures surged above an unprecedented $10,000 a metric ton on Tuesday before erasing gains and taking a breather from a historic rally that has seen prices of the key chocolate ingredient double this year. Apple Inc.’s iPhone shipments in China fell about 33% in February from a year earlier, according to official data, extending a slump in demand for the flagship device in its most important overseas market. India’s current account deficit (CAD) narrowed to $10.5 billion in the third quarter of 2023-24, according to data released on March 26 by the Reserve Bank of India (RBI). As per the data, the CAD in October-December amounted to 1.2 percent of India’s GDP. The CAD in July-September 2023 was $11.4 billion, or 1.3 percent of GDP. In October-December 2022, the deficit stood at $16.8 billion, or 2.0 percent of GDP. The current account deficit as a percentage of GDP for Q2 of 2023-24 underwent an upward revision to 1.3 percent from 1.0 percent earlier due to an upward adjustment of customs data on merchandise imports China’s industrial firms posted higher profits in the opening months of the year, suggesting an economic recovery was gaining momentum despite persistent sluggishness in the property sector.

  Profits at China’s industrial firms jumped 10.2% in the first two months from the same period last year, following a 2.3% profit decline for the whole of 2023 Stocks in Asia were mixed Wednesday breaking ranks from Wall Street as the market rally in the U.S. continued to cool. Nifty snapped its three-day rally and ended lower on March 26 led by losses in heavy weights while broader indices ended higher. At close, Nifty was down 0.42% or 92.1 points at 22004.7. Nifty made an inside day pattern in a range bound move on March 26. In the process, Nifty gave up the entire gains of Friday. Nifty could stay in the 21793-22180 band in the near term.

• March 27, 2024 08:43
  

  Stock Market Live Today: Pre-opening market comment by Prashanth Tapse, of Mehta Equities 

  “In yesterday’s trade, Nifty faced heavy selling pressure, ending on a negative note, prompting concerns about the resilience of Nifty bulls amidst headwinds including Federal Reserve rate speculation and weak corporate guidance. Investor attention now turns to key economic data and the upcoming earnings season. Despite challenges, potential support for Nifty bulls lies in foreign institutional buying and global market momentum. Volatility is expected to rise ahead of the F&O expiry. Notable market movements include InterGlobe Aviation hitting a record high, Adani Ports’ acquisition, and fluctuations in oil and steel prices. Indian markets will be closed on March 29th for Good Friday. Trading strategies suggest buying opportunities with specific targets and stop-loss levels. Noteworthy stock recommendations include INDIGO, TVS MOTORS, DIXON TECHNOLOGIES, and HINDUSTAN COPPER, driven by various factors including sectoral prospects and technical analysis.”

• March 27, 2024 08:38
  

  Commodities Market Live Today: Zinc falls on weak steel demand, strong dollar

  Zinc prices slid on Wednesday to hit their lowest in more than three weeks, as a firm dollar and weakening demand from the steel sector weighed on the market.

  Three-month zinc on the London Metal Exchange (LME) eased 0.4% to $2,432 per metric ton by 0221 GMT, having fallen to a low of $2,430 earlier in the session, the weakest since March 4.

  The most-traded May zinc contract on the Shanghai Futures Exchange (SHFE) shed 1.8% to 20,765 yuan ($2,873.33) a ton. Earlier in the session, it lost as much as 2% to 20,740 yuan, the lowest since March 6.

  Zinc inventories in LME and SHFE warehouses have been rising, pushing the discount of the LME cash zinc contract to the three-month contract to $50.83 a ton on Tuesday, the biggest since November 1991.

  In top consumer China, a lack of sufficient capital has slowed the construction of infrastructure and property projects in the first quarter of 2024, weakening demand for zinc.

  The dollar steadied in the wake of more strong U.S. economic data. A stronger dollar makes the greenback-priced metals more expensive for other currency holders. – Reuters

• March 27, 2024 08:13
  

  Stock Market Live Today: PE firm Olympus to sell 9.8% stake in Aster DM Healthcare for up to $234.5 mn

  Private equity firm Olympus plans to sell a 9.8% stake in India’s Aster DM Healthcare for up to ₹1,953 crore (nearly $234.5 million), according to a term sheet seen by Reuters

• March 27, 2024 08:01
  

  Stock Market Live Today: Broker’s call: Coal India (Buy)

  We initiate coverage on Coal India with a Buy rating and target price of ₹550. Although we strongly endorse the energy-transition narrative and that renewable energy would dominate the global energy mix, we believe India’s large population and expansive scale make it unfeasible to phase out the use of coal for the next decade at least.

• March 27, 2024 07:58
  

  Stock Market Live Today: Broker’s call: Crisil (Buy)

  Crisil is the oldest and a leading domestic credit rating agency in India. It is majorly owned by S&P Global which is world’s foremost provider of transparent and independent ratings, benchmarks, analytics, data, research, commentary and ESG solution.

• March 27, 2024 07:46
  

  Stock Market Live Today: Fertiliser sales rise 3% to 58 million tonnes in Apr-Feb of FY24

  Sales of key fertilisers in the 11 months of the current fiscal up to February are up by 3 per cent at 57.57 million tonnes (mt) mainly on higher usage of DAP and complex varieties while urea consumption has been stagnant, according to official data. However, except MoP, imports of all other fertilisers were lower during April-February of 2023-24.

• March 27, 2024 07:42
  

  Stock Market Live Today: The board of Wockhardt has approved QIB of 93 lakh shares at ₹517/apiece. Prashant Jain, Madhu Kela promoted entities in QIP list

• March 27, 2024 07:42
  

  Stock Market Live Today: Ashiana Housing: Repays ₹79 lakh to IFC

• March 27, 2024 07:42
  

  Stock Market Live Today: Indian Hotels (IH): Infues $6.5 million into its Netherlands unit

• March 27, 2024 07:41
  

  Stock Market Live Today: Stocks that will see action today: March 27, 2024

  Buzzing Stocks: CDSL, Aster DM Healthcare, RK Swamy, NTPC, LIC, Dynacons Systems, Prataap Snacks, Apollo Pipes, Sanofi India, Cipla, Nocil, Adani Power

• March 27, 2024 07:41
  

  Stock Market Live Today: Kalyani Forge: A new lawsuit has been brought against industrialist Baba Kalyani, as his nephew and niece move to claim shares in the assets of the Kalyani family

• March 27, 2024 07:40
  

  Stock Market Live Today: IRFC: Uma Ranade given additional charge of post of Chairman and MD

• March 27, 2024 07:40
  

  Stock Market Live Today: Wockhardt: Board approves QIB of 93 lk shares at ₹517/sh

• March 27, 2024 07:40
  

  Stock Market Live Today: Sugar Stocks: Govt’s sugar policies ensured stable retail prices, timely payment to farmers

• March 27, 2024 07:40
  

  Stock Market Live Today: Prism Johnson: Company to consider fund raise via NCDs on March 29, 2024

• March 27, 2024 07:39
  

  Stock Market Live Today: Larsen & Toubro: Company board approves long-term borrowings of up to Rs 7,500 crore

• March 27, 2024 07:39
  

  Stock Market Live Today: Lumax Ind: Company approved equity investment of upto 50m rupees in lumax industries Czech s.r.o.

• March 27, 2024 07:39
  

  Stock Market Live Today: Shriram Finance: Government of Singapore acquired 1.77 Lakh Shares and Monetary Authority of Singapore acquired 47,654 Shares

• March 27, 2024 07:39
  

  Snowman: Promoter Gateway Distriparks Bought Additional 3.75 Lakh Shares or 0.22% Stake from Open Market

• March 27, 2024 07:39
  

  Stock Market Live Today: DCM/Chemplast: DGTR initiates anti-dumping investigation on PVC suspension resins

• March 27, 2024 07:39
  

  Stock Market Live Today: Technocraft: Company says manufacturing facility at Maharashtra will commence its production in a phased manner from March 27

• March 27, 2024 07:38
  

  Stock Market Live Today: Anant Raj: Company’s has enhanced the scope of offering enlisted in MOU with TCIL and have entered into an addendum for this purpose

• March 27, 2024 07:38
  

  Stock Market Live Today: Power Grid: Company has successfully commissioned project under augmentation of transformation capacity in southern region

• March 27, 2024 07:38
  

  Stock Market Live Today: Nocil: Company has accorded approval for incurring capital expenditure up to 2.5b rupees towards capacity enhancement (rubber chemicals) at dahej

• March 27, 2024 07:37
  

  Stock Market Live Today: AstraZeneca: Company gets permission to import for sale & distribution of Trastuzumab Deruxtecan Lyophilized powder

• March 27, 2024 07:37
  

  Stock Market Live Today: Krsihna Defence: Company win order for supply of special steel product worth 109.9M rupees

• March 27, 2024 07:37
  

  Stock Market Live Today: Shyam Metalics: Company gets composite license for the Surjagad-1 iron ore block for an area of 1526 hectares

• March 27, 2024 07:36
  

  Stock Market Live Today: Securities in F&O Ban For Trade Date 27-March-2024  

  • SAIL

• March 27, 2024 07:35
  

  Stock Market Live Today: Nifty to remain at 24,000; expect bounce back in 3-6 months: Emkay Institutional Equities

  Emkay Institutional Equities (“Emkay”), a part of Emkay Global Financial Services Limited, maintains its stance of Nifty to remain at 24,000 level. Emkay expects the market to rebound in 3-6 months, when SMIDs (Small and Mid Caps) would start to outperform again and the ‘hide in large-caps’ trade would unwind.

  The correction observed in March can be attributed to inflated valuations and concerns regarding liquidity within SMID funds and stocks. While the headline correction appears moderate, there is a substantial number of stocks that have been significantly affected. While not the most severe post-Covid correction, the pace at which it has unfolded has been disruptive. Particularly, energy, real estate, and materials sectors have been notable underperformers, with the decline in the first two sectors largely driven by mean reversion.

  The current rally in SMIDs is primarily driven by a shift in India’s economic growth trajectory from consumption and services towards manufacturing and investment. This shift has resulted in a redistribution of the incremental profit pool away from sectors such as banks, fast-moving consumer goods (FMCG), and Information Technology (IT), which are dominant in the large-cap universe. Conversely, manufacturing sectors, which are predominantly composed of SMIDs, have played a significant role in propelling the market’s rally. This trend is expected to remain a focal point of government policies, and any significant change in incremental growth is unlikely in the near future. SMID rallies are inherent to the market, characterized by higher volatility and often accompanied by inflated valuations, followed by rapid and pronounced corrections, similar to the current one.

• March 27, 2024 07:35
  

  Commodities Market Live Today: BNP Paribas’ India Steel Weekly Report – March 2024

  BNP Paribas India has released the India Steel Weekly Report – March 2024 wherein Priyankar Biswas, Analyst – India Industrials, Logistics and Metals, has shared his views in detail.

  Coking coal price correction supports margins but strong downside risk to domestic HRC prices going ahead

  · Highlights: China

  o China’s steel demand down 5% y-y in Feb 24; elevated inventory levels indicate weak demand:

  § Crude steel production in Jan Feb 24 combined came in at 168mnt (+1.6% y y). This is the highest level of steel production for the months of January and February combined since 2021.

  § Feb 24 steel demand came in at 70.6mnt ( 5.4% y y). This is lower than steel demand for the month of Feb over CY20 23. Total steel demand for Jan 24 and Feb 24 combined came in at c140mnt. This is the lowest level of demand for these months combined since CY18.

  § We expect demand to have remained subdued in early Mar 24. For CISA affiliated mills , inventory levels rose to 19.5mnt ––(the highest since May 23) despite a decline in production in early Mar 24 vs end Feb 24

• March 27, 2024 07:33
  

  Stock Market Live Today: L&T Finance Holdings Ltd. and Bajaj Markets collaborate to offer Housing Finance solutions

  L&T Finance Holdings Ltd. (LTFH) has forged a strategic partnership with Bajaj Markets to introduce Home Loans and Loan Against Property (LAP) on their digital platform. This collaboration extends the suite of financial products available on Bajaj Markets, augmenting the existing lineup which includes personal loans and two-wheeler loans by the Company.

  The introduction of Housing Finance solutions on Bajaj Markets will empower individuals seeking home financing options. Borrowers would now be able to explore offerings such as Home Loan Balance Transfer and Loan Against Property Balance Transfer, enabling them to optimise their financial strategies. With LTFH, borrowers can extend their repayment tenure up to 25 years, coupled with competitive interest rates starting from just 8.60% p.a.

• March 27, 2024 07:33
  

  Stock Market Live Today: Credit-Deposit Ratio Continues to Hover Around the 80% Mark: CAREEdge

  Credit offtake continued to grow, increasing by 20.4% year-on-year (y-o-y) to reach Rs. 163.1 lakh crore, for

  the fortnight ending March 08, 2024. This rise can continue to be attributed to the impact of HDFC’s merger

  with HDFC Bank along with the growth in personal loans. If we exclude the impact of the merger, credit grew

  at 16.5% y-o-y for the fortnight compared to last year’s growth of 15.7%. Sequentially credit grew by 0.7%.

  Meanwhile, the outlook for bank credit offtake continues to remain positive.

  • Deposits too grew by 13.7% y-o-y for the fortnight (including the merger impact) and reached Rs. 204.2 lakh

  crore as on March 08, 2024, driven by growth in time deposits. Excluding the merger impact, growth stood at

  13.1%. Sequentially deposits grew by 1.1%. Deposit growth is expected to improve compared to earlier

  periods as banks shore up their liability franchise and ensure that deposit growth does not constrain credit

  offtake.

  • The Short-term Weighted Average Call Rate (WACR) stood at 6.52% as of March 15, 2024, compared to

  6.42% on March 17, 2023, due to liquidity and pressure on short-term rates, also the rate is moving closer

  towards repo rate

• March 27, 2024 07:32
  

  Stock Market Live Today: Clean Science and Technology | HALS expansion: CSTL’s strategic leap

  HDFC Securities

  We maintain SELL on Clean Science and Technology (CSTL) with a price target of INR 1,037 (WACC 11%, terminal growth 6%), owing to (1) slower-than-expected ramp-up in hindered amine light stabilizers (HALS) and (2) entry of domestic competitors in mono methyl ether of hydroquinone (MEHQ) manufacturing. We believe CSTL has an import substitution opportunity in HALS. However, the upcoming capacity augmentation in HALS by competitors and muted demand growth shall remain challenges to growth in HALS revenue. Therefore, HALS revenue growth could be slower than we had anticipated earlier. We have lower revenue estimates from HALS in FY25 and FY26. EBITDA and PAT shall grow at a 23/23% CAGR over FY24E-27E. The RoE is expected to improve from 21.6% in FY24E to 22.2% in FY27E. We believe the valuation is contextually high at 41/34/31x FY25E/26E/27E EPS.

• March 27, 2024 07:32
  

  Stock Market Live Today: Stock Recommendations: Mahanagar Gas | Resilience amid regulatory headwinds

  HDFC Securities

  Mahanagar Gas (MGL) stock recently corrected ~19% from its peak, owing to the Petroleum and Natural Gas Regulatory Board’s (PNGRB) notice on the end of MGL’s infrastructure exclusivity in the Mumbai GA. We believe the impact of concerns over change in regulations and the recent stock price correction is overdone, which provides a good opportunity for investors. We expect MGL’s outperformance to sustain, driven by (1) a pick-up in volume growth and (2) robust margins. The Vahan data continues to support our investment thesis, with FY24YTD data suggesting a strong trend in new CNG vehicle registrations in MGL’s geographical areas (GAs), which should outpace new CNG vehicle registrations seen in FY23. While MGL has taken an INR 2.5/kg cut in CNG price, we expect this would help increase CNG vehicle registrations. MGL’s acquisition of Unison Enviro’s (UEPL) three GAs should also add to its overall volume growth. At the current price, MGL’s valuation is at 11.2x Mar-25E EPS, a ~10% discount to its five-year average multiple of 12.4x despite a better volume growth outlook. MGL’s valuation remains attractive as CMP factors only 4.3% volume growth. We, therefore, reiterate our BUY recommendation on MGL with a target price of INR 1,535/sh

• March 27, 2024 07:31
  

  Stock Market Live Today: Healthy capital flows and comfortable CAD

  Q3 BoP by Emkay Global

  The mild sequential moderation in current account deficit (CAD) to USD10.5bn (1.2% of GDP) in Q3FY24 reflected offsetting of higher trade deficit with better services exports and private transfers. Q3 CAD funding has been smooth with massive FPI flows and consistently improving banking capital. Despite slower FDI flows, the rise in capital account surplus (USD17.4bn) has meant net accretion of USD6bn. For FY24E, we maintain CAD/GDP at 0.8%, led by incrementally improving goods trade deficit and solid services trade surplus. We see FY24 BoP surplus near USD37-40bn. FY25 CAD/GDP will likely see the rub-off effect structurally improving the external sector and could stay at 1.1-1.2%. However, INR will have a non-linear movement ahead, ranging 82.50-84.25 for Q1FY25.

• March 27, 2024 07:24
  

  Stock Market Live Today: Why this largest balanced advantage fund is a good investment choice

  HDFC Balanced Advantage fund: In the current markets, blue chip indices are near all-time highs. Bonds have rallied well in the last year, and yields have been falling for government securities.

  However, recent months have seen volatility in the mid- and small-cap spaces as valuations ran ahead of fundamentals. Market regulator SEBI has expressed concerns about liquidity in the space – so much so that it has asked funds to conduct stress tests.

  Indian elections are also around the corner, adding to market uncertainty.

• March 27, 2024 07:06
  

  Stock Market Live Today: QIP Launch Alert: Angel One

  Angel One to launch QIP of Rs 1500 cr today 

  Indicative QIP pricing likely to be around Rs 2555/sh 

  QIP likely at 6% discount to market price 

  ISec, Motilal Bankers to QIP Deal

  QIP funds to be used for exchange margin, business expansion 

  Sources to @CNBC_Awaaz

• March 27, 2024 06:55
  

  Stock Market Live Today: Major U.S. listed stocks result calendar 27.03.2024 

  Cintas Corporation (Pre market) (Sector- Textile)

  Paychex, Inc. (Pre market) (Sector- Miscellaneous)

  Carnival Corporation (Pre market) (Sector- Hotel)

  Jefferies Financial Group Inc. (Post market) (Sector- Financial)

  Aegon Ltd. (TENT) (Sector- Financial)

• March 27, 2024 06:54
  

  Stock Market Live Today: Economic Calendar – 27.03.2024  

  16.00 U.K. FPC Meeting Minutes

• March 27, 2024 06:51
  

  Stock Market Live Today: Today’s Pick: March 27, 2024

  Here’s an interesting stock idea: Our stock recommendation for you today is Sudarshan Chemical Industries. This stock has a bullish trend, and recently, it began a fresh leg of the rally, which is likely to extend further.

• March 27, 2024 06:48
  

  Stock Market Live Today: Stock to buy today: Sudarshan Chemical Industries (₹609.3)

  The stock of Sudarshan Chemical Industries turned bullish in May last year after it broke out of the resistance at ₹430. However, after touching ₹610 last month, the price turned lower. But the support at ₹550 arrested the decline and on the back of this support, the stock rebounded. Last week, it broke out of the resistance at ₹610.

• March 27, 2024 06:46
  

  Stock Market Live Today: Day trading guide for March 27, 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