Updated – May 03, 2024 at 09:41 AM.
Sensex, Nifty, Share Prices LIVE: On Friday, Indian benchmark indices, Sensex and Nifty, surged in early trading, mirroring global markets following the U.S. Federal Reserve’s indication of a conservative approach to rate hikes. Sensex rose by 427.44 points to 75,038.55, while Nifty climbed 125.45 points to 22,774.65. The positive market sentiment was bolstered by a less-hawkish Fed stance and lower oil prices, both up by 1% for the week. Retail investor participation has increased significantly, with the Nifty tripling since 2020 and a notable rise in demat accounts. Indian retail investors, HNIs, and DIIs are leading the market, while FIIs are losing influence. Strong GDP growth and corporate earnings continue to drive the rally. Bajaj Finance’s shares surged by 6.49% to ₹7,329.65 after the RBI lifted restrictions on its lending products. Analysts caution of potential foreign outflows due to sustained U.S. rate hikes as investors await U.S. jobs data for further insights into the Fed’s future actions.
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 3 May 2024.
ALL UPDATES
- May 03, 2024 09:36
Sensex Today: Top gainers, losers at this trading hour
Top gainers on the BSE include – Bajaj Finance (5.96%), Bajaj Finserv (4.83%), Ntpc (2.76%), Ongc (2.62%), Shriram finance (2.16%)
Top losers include- Adani Enterprises (-0.65%), Maruti Suzuki (-0.62%), Larsen and Toubro (-0.47%), Hero Motocorp (-0.45%), Bharti Airtel (-0.42%)
- May 03, 2024 09:36
Commodities Market Live Today: Crude oil futures rise on OPEC+ production cut extension reports
Crude oil futures traded higher on Friday morning as market reports indicated that OPEC+ may continue with production output cuts beyond June also. At 9.18 am on Friday, July Brent oil futures were at $83.96, up by 0.35 per cent, and June crude oil futures on WTI (West Texas Intermediate) were at $79.22, up by 0.34 per cent. May crude oil futures were trading at ₹6618 on Multi Commodity Exchange (MCX) during the initial hour of trading on Friday morning against the previous close of ₹6601, up by 0.26 per cent, and June futures were trading at ₹6602 against the previous close of ₹6576, up by 0.40 per cent.
- May 03, 2024 09:28
Stock Market Live Today: SIS eyes 20% revenue growth for FY25
SIS Ltd, the country’s largest security, facility management and cash logistics service provider, is looking at a 20 per cent increase in revenues for FY25, from its India and overseas operations.
Revenue CAGR for the company is around 15 per cent.
- May 03, 2024 09:25
Stock Market Live Today: Opening Bell: Sensex, Nifty open higher on global cues; Bajaj Finance surges over 6% after RBI lifting restrictions
Indian equity benchmark indices, Sensex and Nifty, opened higher on Friday, following a global uptrend after the U.S. Federal Reserve indicated a reluctance towards further rate hikes. The 30-share BSE Sensex climbed 427.44 points to 75,038.55 in early trade. The NSE Nifty gained 125.45 points to 22,774.65.
Major indexes closed higher in the previous session as markets reacted positively to a less-hawkish Fed stance and lower oil prices, both of which have seen a 1% increase this week.
The Nifty has tripled from its 2020 lows, and there has been a significant rise in demat accounts, indicating increased retail investor participation. Indian retail investors, HNIs, and DIIs are dominating while FIIs are losing influence. Strong GDP growth and corporate earnings are supporting the market rally. Vijayakumar suggests that the market has already factored in the election outcome, with attention now turning to the Budget. He advises investors to consider a multi-asset investment strategy focusing on equity.
Shares of Bajaj Finance will be closely watched after the non-bank lender announced that the Reserve Bank of India had lifted restrictions on its lending products, allowing it to resume loan sanction and disbursal in previously banned segments. Bajaj Finance shares gained 6.49% to trade at ₹7,329.65.
Asian markets opened higher, with the MSCI Asia ex-Japan index up by 1.1%. Wall Street also saw gains after Fed Chair Jerome Powell’s remarks on Wednesday indicating a cautious approach to further interest rate increases.
Foreign institutional investors sold Indian shares worth Rs 964 crore on Thursday, but domestic institutional investors bought shares worth Rs 1,352 crore, offsetting the foreign outflows.
Investors are also keeping an eye on U.S. jobs data due later in the day for further insights into the Fed’s interest rate plans.
- May 03, 2024 09:12
Stock Market Live Today: Sectoral Outlook: CLSA on Metals
Aluminium: resilient outlook
Demand recovery to support prices; Indian smelters well placed
Hindalco– Buy, TP Raised to Rs 770
Raise FY24-26CL Ebitda by 4%-13% on higher aluminium price assumptions & also raise profitability est. for Novelis
Vedanta – Buy, TP raised to Rs 430
Believe Vedanta is well placed to benefit from commodity upcycle given its diversified exposure.
In addition, efforts to raise capacity & profitability across segments through its ongoing capex programme augur well.
- May 03, 2024 09:11
Stock Market Live Today: Stock Recommendations: MS on Havells
Overweight Call, Target Rs 1,826
Earnings Were 15-20% Above Estimates
Industrials portfolio and Lloyd’s contribution margin
Core Revenue Growth Should Be Stronger In FY25-26
Core Revenue Growth Should Be Driven By Real Estate Cycle And C&W Capacity
Co’s Strategy Of ‘Deeper Into Home’ Is A Sustainable Growth Driver
- May 03, 2024 09:11
Stock Market Live Today: Stock Recommendations: Jefferies on ONGC
Buy Call, Target Rs 390
Investor Interactions Indicate Broad Consensus On Better Profitability And Attractive Valn
Key Concerns Include Skepticism Around Production Growth
Key Concerns Include Whether KG Basin Production Will Be Profitable Given High Opex
See Ramp-Up In KG Basin Production In Q3FY25
Se Accretion To Profitability (11% To FY26 Consol EBITDA) As Key Triggers
- May 03, 2024 09:11
Stock Market Live Today: Stock Recommendations: MS on Dabur
Overweight Call, Target Rs 604
Q4 Broadly In Line
Continued share gains & rural growth outpacing urban growth are positives
Weaker top-line growth momentum was a negative
- May 03, 2024 09:11
Stock Market Live Today: Stock Recommendations: MS on Federal Bank
Equal-weight Call, Target Raised To Rs 180
Core PPoP Growth Was 4% YoY Adjusted For One-offs In Costs/Fees
Asset Quality Was Strong And Credit Costs Stayed Low
RoAs Should Stay Strong, With No Likely Rate Cuts In The Near Term
Valuation Appears Fair
- May 03, 2024 09:10
Stock Market Live Today: Stock Recommendations: Brokerages on Adani Ports
HSBC on Adani Ports
Buy Call, Target Rs 1,560
FY25 Guidance Implies 10-14% Growth Which Think Is Achievable
Forecast 15% EBITDA CAGR In FY24-27
FY25 Est EBITDA Is 4% Above Top-End Of Co’s Guidance Range
Jefferies on Adani Ports
Buy Call, Target Raised To Rs 1,640
Q4 EBITDA 5% Lower Than Expectations As Realisations Were Tad Lower
Management Commentary Was Confident On Double Digit Growth
FY25 Volume Guidance At 460-480 mt (10-14% Rise YoY) Is In Line
CITI on Adani Ports
Buy, TP Rs 1782
Not only reported strong 4Q but also gave healthy FY25E guidance
Notably strong capex planned in FY25E not only underlines strong cash flows & BS but also is an indication of intent to accelerate growth
- May 03, 2024 09:09
Stock Market Live Today: Stock Recommendations: Brokerages on Bajaj Finance
Jefferies on Bajaj Fin
Buy Call, Target Rs 9,260
RBI Lifts Restrictions It Had Imposed On Co’s eCom & Digital EMI Cards
View This Positively, As Resolution Has Come Within Just 6 Months Of Imposition
Co Saw An Impact Of More Than 10% On New Loans Booked & 4% On Consol
PBT In Q4 Due To This & Self-imposed Restrictions On Physical EMI Cards
This Improves Visibility Of Growth, See 24% Profit CAGR Over FY24-27
CITI on Bajaj Fin
Buy, TP Rs 8675
RBI Lifts Restrictions Within 5 Mths; Earnings Impact Was 4% in 4Q
Believe rectification & ensuring lifting of restrictions in span of 5 mths is commendable.
Management remains committed to avoiding recurrence of regulatory restrictions
- May 03, 2024 09:08
Stock Market Live Today: Stock Recommendations: Brokerages on Coal India
Jefferies on Coal India
Buy Call, Target Rs 520
Q4 reported EBITDA & PAT grew 21-26% YoY,
EBITDA, PAT Rise Includes Effect Of Accounting Policy Changes For Stripping Activity Costs
Q4 Cash EBITDA, Excluding Noncash Stripping Activity Adjustment, Rose 14% YoY
Q4 Cash EBITDA 18% Below Est Due To Sharp QoQ Rise In Staff & Other Expenses
Dispatch Volumes Grew 8% YoY While Cash EBITDA/Ton Rose 6% YoY
CITI On Coal India
Neutral, TP Rs 460
4Q EBITDA excluding OBR adj reversal 14% higher yoy on higher vol (+8%) & lower costs (-13%); though blended realizations fell 10% yoy.
Like to-like comparison may not be possible; however, EBITDA appears to be below est.
- May 03, 2024 09:08
Stock Market Live Today: Stock Recommendations: Brokerages on Coforge
Jefferies on Coforge
Downgrade To Underperform, Target Cut To Rs 4,290 from Rs7,650
Q4 Missed Est On Lower Than Expected Margin
Co Did Not Offer Growth Guidance For FY25, Implying Higher Uncertainty
Large Acquisition Adds Another Layer Of Execution Risk, Warranting A De-rating
Imminent QIP Should Be An Overhang As Well
Cut Est By 11-16%
CITI On Coforge
Sell, TP Cut to Rs 4550
Reported soft 4Q – revs & margins below est.
Mgmt. suspended FY25 rev growth guidance due to uncertain environment; indicated to deliver robust growth in FY25
Lower FY25/FY26E est. by 5%
Cut multiple to 28x given lower growth & QIP overhang
InCred on Coforge
Downgrade To Reduce, Target Cut To Rs 4,431
Cigniti Acquisition Drives 6% Cut In FY24-26 EPS CAGR
Although Acquisition Adds Capabilities, Geography & Vertical Diversification
Associated Dilution Outweighs Gains From Integration
- May 03, 2024 09:07
Stock Market Live Today: Stock Recommendations: JEFFERIES ON BAJAJ FINANCE
* Maintain Buy with target price of Rs 9260
* Lifting of RBI’s restrictions to aid business and improve growth visibility
* View this positively, as resolution has come within just 6 months of imposition
* Saw an impact of +10% on new loans booked & 4% on consol. PBT in Q4
* Don’t change est., but this improves visibility of growth – see 24% profit CAGR over FY24-27
* Stays among our top NBFC picks
- May 03, 2024 09:06
Stock Market Live Today: Ajanta Pharma Limted- Buyback Announced
Route – Tender
Buyback Price: 2,770/
Current Market Price: 2233.10 /-
Market Cap: Rs 28,118 crores
Buyback Size: Rs 285 Crs (Representing 8.34% and 8.03% of the aggregate of the Company’s fully paid-up equity capital and free reserves)u0009u0009
Buyback Size: 10,28,881 shares (Representing 0.82% of O/s. shares)u0009
Retail Quota: 1,54,332 Shares
Last Cum Trading Date – 29 May 2024
Ex-Date – 30 May 2024
Buyback Record Date: 30 May 2024
Buyback Schedule: Not Yet Announced
- May 03, 2024 08:58
Commodities Market Live Today: Silver dips to $26.61
Silver prices remained stable as investors continued to examine the Federal Reserve’s expected interest rate path after recent economic data. The Federal Reserve maintained its interest rate steady, and Fed Chair Jerome Powell said that the next rate adjustment from the central bank would most likely be a rate cut. According to a Labour Department study, unit labour expenses increased by 4.7% in the first quarter after being revised unchanged in the fourth. Separately, the Labour Department said that initial unemployment claims remained unchanged last week, while the Commerce Department reported that the United States’ trade deficit reduced marginally in March.
- May 03, 2024 08:57
Commodities Market Live Today: Gold down at $2,301 an ounce
Gold prices were expected to decrease for the second week in a row as investors avoided establishing large holdings ahead of U.S. non-farm payrolls data, which might provide fresh clues about the Federal Reserve’s policy direction. The US central bank maintained interest rates constant and suggested that it is still leaning towards eventually lowering borrowing costs, but raised concerns about recent poor inflation data, which might delay such rate decreases. The number of Americans submitting new jobless claims remained low last week, indicating a relatively tight labour market that should continue to support the economy in the second quarter. SPDR Gold Trust reported that its holdings declined 0.17% to 829.60 tonnes on Thursday, from 831.04 tonnes.
Key economic data slated for release includes Average Hourly Earnings m/m, Non-Farm Employment Change, Unemployment Rate, ISM Services PMI from US Zone.
- May 03, 2024 08:30
Stock Market Live Today: Trading Tweaks
Moved out of short-term ASM framework: Bajel Projects, IRM Energy, VA Tech Wabag.
Price Band change from 20% to 5%: Semac Consultants.
Ex/record dividend: Sanofi India.
- May 03, 2024 08:29
Stock Market Live Today: Bulk Deals
Cyient: HDFC Mutual Fund bought 11.33 lakh shares (1.02%) at Rs 1,800 apiece.
Car Trade Tech: CMDB LI sold 3.75 lakh shares (0.8%) at Rs 710.08 apiece.
Inox Green Energy Services: Sixteenth Street Asian Gems Fund bought 40 lakh shares (1.36%) at Rs 144.5 apiece.
Zaggle Prepaid Ocean Services: Ventureast Proactive Fund sold 22.27 lakh shares (1.82%) at Rs 302 apiece while ICICI Prudential Mutual fund bought 11.58 lakh shares (0.95%) at Rs 302 apiece.
- May 03, 2024 08:29
Stock Market Live Today: Stocks to Watch today
Bajaj Finance: The Reserve Bank of India lifted restrictions on the company’s eCOM and online digital Insta EMI Card products with immediate effect.
* Adani Energy:* The company is in a pact with Windson Project to acquire Pointleap Projects for Rs 13.15 crore.
* Max Estates:* The company arm signed an agreement for a residential development project in Gurugram with a GDV potential of over Rs 9,000 crore.
* UGRO Capital:* The company plans to raise Rs 1,323 crore via CCDs and warrants and acquire
‘MyShubhLife’ for an aggregate consideration of Rs 45 crore.
* Mazagon Dock Shipbuilders:* The company received an international shipbuilding order worth $42 million to construct three hybrid-powered vessels.
* Hindustan Unilever:* HUL appointed Vipul Mathur as Executive Director, Personal Care, effective June 1.
* Wipro:* The company will implement Wipro’s Medicare Prescription Payment Plan platform for the upcoming open enrollment period.
* Indian Energy Exchange:* The company achieved 9,044 MU overall volume in April, marking a 14.1% YoY increase, and REC volume at 618 MU, up 211% YoY.
* Jubilant Pharmova:* The company appointed Harsher Singh as CEO of the Radio pharma business.
* Gujarat Industries Power:* The company entered into a loan agreement worth 2,832 crore with the national bank for financing infrastructure and development.
* Moil:* The company reported April production up 22% YoY and sales up 17% YoY.
* KEl Industries:* The company partnered with BRUGG to produce EHV cables up to 400 kV.
* Zydus Lifesciences:* The company to sell shares worth Rs 282 crore of JV Bayer Zydus Pharma
Bayer Zydus Pharma to cease to be a JV of the company post the stake sale.
* Birla Corporation:* The company approved the restructuring of the scope of the second phase expansion of the existing capacity of the grinding cement plant in Uttar Pradesh. The expansion will feature an investment of Rs 425 crore.
* Suzlon Energy:* The company approved the merger of Suzlon Global Services with the company
* TVS Holdings:* The company is to acquire the remaining 10.74% stake in Emerald Haven Realty from Sandwood Investments for Rs 41.16 crore.
* Aptech:* The board approved the amalgamation of Arm MEL Training and Assessments, Aptech Ventures, and Aptech Investment Enhancers to merge with the company.
* Goodyear India:* CFO Manish Mundra resigned effective June 30.
- May 03, 2024 08:28
Stock Market Live Today: Earnings post market hours: CEAT – (Consolidated, YoY)
Revenue up 4.07% at Rs 2992 crore vs Rs 2875 crore (Bloomberg estimate Rs 3,055 crore).
Ebitda at Rs 392 crore vs Rs 368 crore, up 6.44% (Bloomberg estimate Rs 454 crore).
Margin up 29 bps at 13.08% vs 12.79% (Bloomberg estimate 14.9%).
Net profit down 22.76% at Rs 102.27 crore vs Rs 132.42 crore (Bloomberg estimate Rs 169 crore).
Board recommends final dividend of Rs 30 per share.
- May 03, 2024 08:28
Stock Market Live Today: Earnings post market hours: JBM Auto – (Consolidated, YoY)
Revenue up 38.17% at Rs 1,332 crore vs Rs 964 crore (Bloomberg estimate Rs 1,346 crore).
Ebitda down 20.04% at Rs 65.49 crore vs Rs 81.91 crore (Bloomberg estimate Rs 156 crore).
Margin down 358 bps at 4.91% vs 8.49% (Bloomberg estimate 11.6%).
Net profit down 62.21% at Rs 10.13 crore vs Rs 26.81 crore (Bloomberg estimate Rs 48.66 crore).
- May 03, 2024 08:28
Stock Market Live Today: Earnings post market hours: Blue Dart Express – (Consolidated, YoY)
Revenue up 8.73% at Rs 1,323 crore vs Rs 1216 crore, (Bloomberg estimate Rs 1,331 crore).
Ebitda up 13.41% at Rs 226 crore vs Rs 199 crore (Bloomberg estimate Rs 193 crore).
Margin up 70 bps at 17.08% vs 16.37%, (Bloomberg estimate 14.5%).
Net profit up 12.01% at Rs 77.78 crore vs Rs 69.44 crore (Bloomberg estimate Rs 65.8 crore).
Board recommends dividend of Rs 25 per share.
- May 03, 2024 08:28
Stock Market Live Today: Earnings post market hours: CIE Automotive India – (Consolidated, YoY)
Revenue down 0.55% at Rs 2427 crore vs Rs 2,440 crore (Bloomberg estimate Rs 2,441 crore).
Ebitda down 5.27% at Rs 361 crore vs Rs 381 crore, (Bloomberg estimate Rs 372 crore).
Margin down 74 bps at 14.85% vs 15.59%, (Bloomberg estimate 15.2%).
Net profit down 17.42% at Rs 231 crore vs Rs 280 crore, (Bloomberg estimate 208 crore).
- May 03, 2024 08:28
Stock Market Live Today: Earnings post market hours: Railtel Corp of India – (Consolidated, QoQ)
Revenue up 24.58% at Rs 833 crore vs Rs 668 crore.
Ebitda down 10.06% at Rs 116 crore vs Rs 130 crore.
Margin down 539 bps at 13.99% vs 19.39%.
Net profit up 24.76% at Rs 77.53 crore vs Rs 62.14 crore.
- May 03, 2024 08:27
Stock Market Live Today: Earnings post market hours: Astec Lifesciences – (Consolidated, YoY)
Revenue up 21.08% at Rs 154 crore vs Rs 127 crore (Bloomberg estimate Rs 154.2 crore).
Ebitda up 135.43% at Rs 12.69 crore vs RFs 5.39 crore (Bloomberg estimate Rs 10.4 crore).
Margin up 400 bps at 8.25% vs 4.24% (Bloomberg estimate 6.7%).
Net loss at Rs 0.96 crore vs profit of Rs 4.97 crore (Bloomberg estimate Net loss of Rs 1 crore).
- May 03, 2024 08:27
Stock Market Live Today: Earnings post market hours: Ajanta Pharma – (Consolidated, YoY)
Revenue up 19.53% at Rs 1,054.08 crore vs Rs 882 crore (Bloomberg estimate Rs 1,034 crore).
Ebitda up 86.32% at Rs 278 crore vs Rs 149 crore (Bloomberg estimate Rs 250 crore).
Margin up 946 bps at 26.4% vs 16.93% (Bloomberg estimate 24.1%).
Net profit up 65.82% at Rs 203 crore vs Rs 122 crore (Bloomberg estimate Rs 187 crore).
- May 03, 2024 08:27
Stock Market Live Today: Earnings post market hours: KEI Industries – (Consolidated, YoY)
Revenue up 18.76% at Rs 2319 crore vs Rs 1953 crore (Bloomberg estimate Rs 2,347 crore).
Ebitda up 20.96% at Rs 245 crore vs Rs 202 crore.
Margin up 19 bps at 10.54% vs 10.35%.
Net profit up 22% at Rs 168 crore vs Rs 138.09 crore (Bloomberg estimate Rs 172 crore).
- May 03, 2024 08:27
Stock Market Live Today: Earnings post market hours: Coforge – (Consolidated, QOQ)
Revenue up 1.51% at Rs 2,358 crore vs Rs 2,323 crore (Bloomberg estimate 2,385 crore).
EBIT down 4.1% at Rs 301 crore vs Rs 314 crore (Bloomberg estimate Rs 372 crore).
EBIT down 74 bps margin at 12.76% vs 13.51% (Bloomberg estimate 15.61%).
Net profit down 5.6% at Rs 229 crore vs Rs 243 crore (Bloomberg estimate 280 crore).
Board approved fourth interim dividend of Rs 19 per share.
Signs share purchase agreement to acquire up to 54% stake in Cigniti Tech.
- May 03, 2024 08:26
Stock Market Live Today: Earnings post market hours: Coal India – (Consolidated, YoY)
Revenue down 1.95% at Rs 37,410 crore vs Rs 38,152 crore (Bloomberg estimate Rs 36,909 crore.)
Ebitda up 21.47% at Rs 11,338 crore vs Rs 9,333 crore (Bloomberg estimate of Rs 10,132 crore).
Margin up 584 bps at 30.3% vs 24.46% (Bloomberg estimate of 27.5%).
Net profit up 25.78% at Rs 8,640 crore vs Rs 6,869 crore (Bloomberg estimate Rs7,617 crore).
Board recommends final dividend of Rs 5 per share.
- May 03, 2024 08:24
Stock Market Live Today: Stock Recommendation: CHOLAMANDALAM INV. & FINANCE: Strong guidance for FY25; earnings beat led by lower credit costs
(CIFC IN, Mkt Cap USD13.1b, CMP INR1302, TP INR1500, 15% Upside, Buy)
Motilal Oswal Financial
– Cholamandalam Inv. & Finance (CIFC)’s 4QFY24 PAT grew ~24% YoY to INR10.6b (9% beat). NII grew ~33% YoY to ~INR23.5b (in line). FY24 PAT rose 28% YoY to INR34.2b.
– Other income jumped ~89% YoY to ~INR5.6b (28% beat). Management expects the fee income to continue growing in line with business growth.
– Opex, in 4QFY24, rose ~63% YoY to ~INR12.85b (15% higher than est.), while the cost-to-income ratio rose ~6pp YoY to ~44% (PY: ~38%). This was primarily due to investments in newer businesses, annual incentives, and CSR expenses. Earlier during the year, the company also moved a large proportion of its outsourced employees to its own payroll.
– GS3/NS3 declined ~35bp/20bp QoQ to 2.5%/1.3%, while PCR on S3 rose ~130bp to ~46%. ECL/EAD declined to 1.72% (PQ: ~2%). 4QFY24 credit costs stood at ~INR1.9b, which translated into annualized credit costs of ~0.5% (PQ: ~1.1% and PY: 0.5%).
– Disbursements were strong at ~INR248b (in line) and grew 18% YoY. Newer lines of businesses contributed ~23% to the disbursement mix (same as the prior quarter).
– NIM (calc.) remained stable QoQ, but core spreads (calc.) declined ~15bp to 6.2%, due to a decline in yields (calc.) by ~20bp QoQ. Management expects the CoB to increase slightly due to liability mix diversification. We model NIM of ~6.8%/6.9% in FY25/FY26.
– We estimate a disbursement/AUM/PAT CAGR of 21%/27%/34% over FY24- FY26. CIFC has levers on cost ratios and business AUM growth to deliver a healthy RoA/RoE of ~2.7%/22% in FY26. We believe in CIFC’s ability to sustain profitable growth in this franchise. We reiterate our BUY rating on the stock with a revised TP of INR1,500 (based on 4.0x FY26E BVPS).
– Key risks to our TP are: 1) higher delinquencies and credit costs in new businesses, particularly CSEL; and 2) pronounced cyclicality in the vehicle finance business, despite management making efforts to mitigate it.
- May 03, 2024 08:23
Stock Market Live Today: Sectoral outlook: Auto & Auto Ancillaries
Apr-24 volumes: 2Ws continue to do well; 4Ws struggle
Emkay Global
Auto & Auto Ancillaries ▶ Sector Specific Monthly Notes ▶ May 2, 2024 ▶
Auto volume trends in Apr-24 remained on the existing trajectory, highlighted by continued double-digit growth for 2Ws and further weakening of momentum in 4Ws. Among OEMs, 2W market leader HMCL outperformed with ~35% YoY growth (BUY; refer our recent note), while PV leader MSIL reported muted ~5% growth (REDUCE; refer our recent note). Combined retails over Mar-Apr (festive mismatch in Navratras) grew 18% in 2Ws, declined 11% in MHCVs, and were flat for PVs and tractors; we highlight that post-curtailment of FAME subsidy in Mar, E-2W retails fell 4% YoY in Apr-24, with penetration levels below 4% vs. 8.9%/5.4% in Mar-24/FY24, resp
- May 03, 2024 08:22
Commodities Market Live Today: Metals & Mining: Weekly Update – Base metal prices continue to inch up
Prabhudas Lilladher
§ Indian benchmark HRC rose for the third consecutive week to Rs 53,600/t (+0.4% WoW). Spot spread for the week improved 1.3% WoW to Rs 24,607/t.
§ Chinese and European HRC prices remained flat WoW to USD 540/t and USD 595/t respectively. Spot spreads for the two geographies improved 1% each WoW respectively to USD 145/t and USD 200/t as coking coal prices declined 1% WoW to USD244/t. Chinese spot iron ore price remained flat WoW to USD 117/t due to ongoing Chinese Labour Day holidays this week.
§ Non-ferrous metal prices continued to inch up this week & stabilized at higher levels. Alumina spot at USD472/t to benefit domestic players (NACL).
§ ICSG forecasted that World’s refined copper production to grow ~2.8% in 2024 and 2.2% in 2025 and refined copper surplus of ~162kt in 2024. World copper mine production’s growth for 2024 has been revised down to 0.5%; primarily attributed to slower project ramp-ups, commissioning delays, and the closure of First Quantum’s Cobre Panama mine with a capacity of 380ktpa.
§ Domestic steel demand remains stable amidst ongoing elections. With stable secondary HRC prices, primary steel mills would attempt smaller price hikes in coming months. With stable coking coal prices (USD230-250/t), global steel prices would remain stable aiding domestic companies. Recent higher spreads in China can however lead to uptick in steel production, exerting pressure on prices. Top picks: HNDL, JSTL and JDSL.
- May 03, 2024 08:21
Stock Market Live Today: Stock Recommendation: Ambuja Cements” Structural levers in place for boosting growth
Emkay Global
TARGET PRICE (Rs) : 700
Ambuja Cements’s consol. EBITDA grew 37% YoY (2% lower QoQ) to Rs17bn, marginally below our expectations (Emkay: Rs17.3bn). Ambuja continues making significant strides towards becoming the lowest-cost cement producer, having achieved ~Rs180/t reduction QoQ in total costs, in Q4. Ambuja targets total cost/t of Rs3,650 by FY28 (a >Rs500/t reduction). Following the recent capital infusion (warrants), Ambuja now boasts of a war chest of Rs243bn, which it aims to use for accelerating its expansion program. Mgmt has chalked out a clear roadmap to reach capacity of 100mt by FY26 (140mt by FY28, clinker backed), along with ~8 billion metric ton limestone reserves. Factoring-in the cost-saving initiatives and growth visibility, we raise FY26E EBITDA by 4%. We maintain BUY on the stock, with revised Mar-25E TP at Rs700/sh (from Rs615), based on implied consol. EV/E of 17x (earlier, 15x) after the quarterly roll-over
- May 03, 2024 08:21
Stock Market Live Today: Stock Recommendation: Greenpanel Industries: Challenges to persist in near term; downgrade to ADD
Emkay Global
TARGET PRICE (Rs) : 350
We downgrade Greenpanel Industries to ADD from Buy, factoring in the near-term challenges. Greenpanel’s EBITDA declined 33% YoY/14% QoQ to Rs516mn, with margin shrinking by 443bps YoY/255bps QoQ to 13% (Emkay: 13.6%). MDF volume declined 7% YoY to ~127KCBM, mainly due to sharp fall in the exports segment (down 75% YoY to 11KCBM) as Company consciously reduced exports owing to unfavorable international prices. We anticipate near-term headwinds to persist for the MDF industry due to i) delay in implementation of BIS norms by a year, to Feb25, resulting in increased imports, ii) timber prices staying elevated in FY25, iii) India’s MDF capacity likely growing 30% YoY to ~3mn CBM in FY24E, and projected to rise to 3.6mn CBM by FY25, potentially heightening competitive pressure. We cut FY25-26E EBITDA by 8-19% and shear off Mar-25E TP to Rs350/sh, post-Qtrly rollover.
- May 03, 2024 08:20
Stock Market Live Today: Stock Recommendation: Dabur India: Better margins aid Q4 earnings beat; Rural rebound heartening
Emkay Global
TARGET PRICE (Rs) : 660
Amid a muted demand setting, Dabur’s thrust on enhancing its distribution has been rewarding, with 95% of the portfolio seeing market share gains and better growth in Rural (~8% vs ~4% growth in Urban). Management sees high-single to low-double-digit revenue growth for FY25, backed by mid-to-high single-digit volume growth. EBITDA margin is likely to see expansion to 20% in FY25E from 19.4% in FY24, given the raw material scenario remaining favorable as well as better mix and cost efficiencies. Q4 topline growth at 5% was in-line, and better than expected margin aided the EBITDA (+14% YoY)/earnings (+16% YoY) beat of 6%/7%. We maintain FY24-26E revenue/earnings CAGR at 10%/16%; retain BUY, with Mar-25E TP of Rs660, on 46x P/E. Dabur stays our preferred sector pick and a play on Rural demand recover
- May 03, 2024 08:19
Stock Market Live Today: Stock Recommendations: Gravita India: Better than expected quarter, growth targets intact
Emkay Global
TARGET PRICE (Rs) : 1,345
Gravita India (GRAV) clocked lead volume growth of 25% YoY in Q4FY24, despite Red Sea challenges, and guided to 25-30% YoY growth in consol. volumes for FY25E. Mgmt. has added iron, steel and paper to its Vision 2028 and reiterated 25% vol./35% earnings CAGR till FY28. Company highlighted progress on the regulatory framework (BWMR norms, EPRs, etc), with MCX approval expected by Q2FY25 for listing of ADC12 (core AL alloy) to enable AL exposure hedging. Mgmt anticipates paper/steel recycling facilities to start by FY26/27, besides the capex on Li-ion recycling starting FY25. We trim FY25-26E earnings 3-4% each, building-in a modest vol. growth of 30% in FY25E and gradual improvement in WC cycle. We retain our BUY rating on GRAV, rolling over to Mar-25E TP of Rs1,345/sh (from Dec-24E TP of Rs1,325 earlier).
- May 03, 2024 08:19
Stock Market Live Today: Stock Recommendations: AJANTA PHARMA: Higher opex leads to EBITDA/PAT miss
(AJP IN, Mkt Cap USD3.4b, CMP INR2234, TP INR2565, 15% Upside, Buy)
Motilal Oswal Financial
Aims to consistently outperform the industry in branded generics
– Ajanta Pharma (AJP) delivered in-line sales in 4QFY24. However, EBITDA/PAT came in lower than our expectations, due to higher opex and higher tax outgo. AJP continued to outperform the industry in domestic formulation (DF) and Asia market. The performance is expected to improve in the Africa branded generics market going forward.
– We cut our estimates by 6%/7% for FY25/FY26, factoring in a) moderation in US growth prospects, b) higher logistics costs due to ongoing geopolitical tension, and c) a higher tax rate. We value AJP at 27x 12M forward earnings to arrive at a TP of INR2,565.
– We expect a 17% earnings CAGR over FY24-26, backed by a 12%/15% sales CAGR in DF/Asia segment and a 150bp margin expansion. With new launches, MR addition and increased market share in existing products, AJP remains in good stead to outperform in the branded generics market (70% of FY24 sales). AJP continues to build the ANDA pipeline for the US market and implement efforts toward consistent compliance. Maintain BUY.
- May 03, 2024 08:18
Stock Market Live Today: Stock Recommendations: DABUR: EBITDA above our estimate; positive commentary for FY25
(DABUR IN, Mkt Cap USD11.2b, CMP INR525, TP INR650, 24% Upside, Buy)
Motilal Oswal Financial
– Dabur’s 4QFY24 revenue growth was largely in line, but EBITDA was above our estimate. Consolidated revenue increased 5% YoY (in line) and 7% YoY in constant currency (cc) terms. For the India business, volume grew 4% YoY (organic growth at ~3% YoY). International business grew 12% YoY in cc.
– The HPC business sustained a healthy growth of 9% YoY, with oral care clocking 22% growth (led by price hikes, share gains, and distribution expansion). Dabur has become the No. 1 oral care player in the markets of Odisha, Karnataka, and AP. In the HPC category, Hair Oil declined 3% YoY, while Home Care, Shampoo, and Skin Care clocked 8%, 6%, and 1% YoY growth, respectively.
– Seasonal businesses, such as the Healthcare division, declined 2% YoY, while F&B was flat YoY. Delay in the winter season impacted health supplement growth adversely; both chyawanprash and honey were weak despite gaining market share. Beverages were hit by the high base. Badshah was up 23% YoY in FY24.
– GM improved 280bp YoY to 48.6% (in line). Conversely, high A&P spending (up 21% YoY) restricted EBITDA margin expansion to 130bp YoY to 16.6% (est. 15.7%). EBITDA growth was healthy, at 14% YoY.
– With an improving volume trajectory and a price hike benefitting revenue (unlike peers), we expect revenue growth acceleration in the ensuing quarters. Dabur’s own initiatives around distribution, new launches, and marketing spend will further boost the growth. The operating margin also has scope for improvement in the medium term, hovering around the ~20% band over the last eight to nine years (unlike peers that enjoyed expansion). We value Dabur at 48x FY26E EPS to arrive our TP of INR650. We reiterate our BUY rating on the stock. Dabur is our top pick in the staples space.
- May 03, 2024 08:17
Stock Market Live Today: FEDERAL BANK: Earnings in line; asset quality improves
(FB IN, Mkt Cap USD4.9b, CMP INR168, TP INR195, 16% Upside, Buy)
Motilal Oswal Financial
Restructured book declines to ~1.0%
– FB reported a mixed quarter as net earnings stood at INR9.1b (in line), led by lower other income and higher opex (wage provisioning of INR1.62b). NII was in line with our estimate, aided by a 2bp QoQ expansion in margins.
– Advances growth was healthy at 20% YoY/5.1% QoQ. Deposits grew 18% YoY/5.4% QoQ, aided by continued traction in term deposits. The CASA ratio moderated 125bp QoQ to 29.4%.
– Fresh slippages moderated to INR3.5b from INR4.8b in 3QFY24. GNPA/NNPA ratios improved 16bp/4bp QoQ to 2.1%/0.6%. Restructured book declined ~14bp QoQ to 1.0%.
– FB reported RoA/RoE of 1.2%/12.8% in 4QFY24. We fine-tune our estimates and expect FB to deliver RoA/RoE of 1.36%/15.1% in FY26. We reiterate our BUY rating on the stock.
- May 03, 2024 08:17
Stock Market Live Today: Stock Recommendations: AMBUJA CEMENTS: Weak realization hurts; focus remains on cost control
(ACEM IN, Mkt Cap USD16.5b, CMP INR626, TP INR600, 4% Downside, Neutral)
Motilal Oswal FInancial
Targets capacity to increase to 100mtpa/140mtpa by FY26/FY28
– Ambuja Cement (ACEM)’s standalone EBITDA was up 1% YoY to INR8.0b (vs. est. of INR9.3b). EBITDA/t came in at INR837 (est. INR1,038) and OPM stood at 16.7% (vs. est. 19.8%). PAT (adjusted for loss on the sale of Sanghi’s share in open market) was INR5.4b (vs. est. INR6.3b). Consolidated volume grew 17% YoY in 4QFY24. EBITDA grew 37% YoY to INR17b and EBITDA/t was up ~17% YoY (down 17% QoQ) to INR1,025.
– ACEM targets further cost reduction by INR530/t to INR3650/t (at consol.) by FY28 to become the cost leader in the industry. Its key focus areas would be Logistics optimization, reduction in energy and raw materials costs. It aims to commission clinker/grinding capacity of 4mtpa/4.8mtpa by 4QFY25.
– We maintain our earnings estimate for FY25/FY26. ACEM trades at 19.6x/ 16.8x FY25E/FY26E EV/EBITDA (standalone). We maintain our Neutral rating on the stock as we await clarity on the expansion plans of the company.
- May 03, 2024 08:16
Stock Market Live Today: Stock Recommendations: ADANI PORTS & SEZ: In-line performance; outlook remains bright
(ADSEZ IN, Mkt Cap USD34.6b, CMP INR1339, TP INR1550, 16% Upside, Buy)
Motilal Oswal Financial
– Adani Ports & SEZ (APSEZ) reported a revenue growth of 19% YoY to INR68.9b in 4QFY24 (in line). During the quarter, APSEZ recorded 26% YoY growth in cargo volumes to reach 108.8 MMT.
– EBITDA margin came in at 58.6% in 4QFY24 vs. our estimate of 59.4% (up 220bp YoY, down 190bp QoQ). While EBITDA grew 24% YoY to INR40.4b, APAT increased 11% YoY to INR22.9b (in line with our estimate).
– In 4QFY24, port revenues rose 24% YoY to INR54.7b and EBITDA margins stood at 70% (flat YoY). Logistics revenues grew 5% YoY to INR5.6b and EBITDA margins stood at 18.7% (vs. 24.8% in 4QFY23). During FY24, revenue increased 28% YoY to INR 267b, EBITDA grew 24% YoY to INR 158.7b, and APAT stood at INR89b (+16% YoY). APSEZ has declared a dividend of INR6 per share in FY24, with a total payout of INR13b.
– APSEZ reported a robust FY24 by handling 420 MMT of cargo volume, surpassing the management’s revised cargo volume guidance of 400 MMT. Further, through debt reduction, APSEZ has achieved a net debt-to-EBITDA ratio of 2.3x vs. 3.1x in Mar’23.
– The 4Q performance was largely in line with our estimates. APSEZ is expected to record 2-3x of India’s cargo volume growth, driven by a balanced port mix on the western and eastern coastlines of India and an operational ramp-up at the recently acquired ports. Further, the logistics business will also serve as a value addition to the domestic ports business with a focus on enhancing last-mile connectivity. We expect APSEZ to report 11% growth in cargo volumes over FY24-26. This would drive a CAGR of 14%/15%/19% in revenue/ EBITDA/PAT over FY24-26. We largely retain our estimates and reiterate our BUY rating with a revised TP of INR1,550 (based on 17x FY26E EV/EBITDA).
- May 03, 2024 08:16
Stock Market Live Today: TeamLease Services analysis reveals surge in employment demand in retail lending sector, especially in Tier II and III markets
A recent analysis conducted by TeamLease Services highlights a notable increase in employment demand within the retail lending sector in BFSI, particularly in Tier II and Tier III markets. The analysis, based on data from the firm’s top clients, totalling a base of over 45,000 temp employees, underscores a significant trend in the industry.
Over the past two financial years, the retail lending sector, which includes Personal Loan, Home Loan, Credit Cards and Micro Financing has exhibited remarkable growth, with a 29% increase in overall employment figures. Notably, the Tier II and Tier III segments have witnessed substantial growth rates of 21% and 26%, respectively, YoY between FY23 and FY24. This surge in employment demand reflects the expanding footprint of retail lending institutions in non-metro and semi-urban areas.
- May 03, 2024 08:15
Stock Market Live Today: Storage Technologies and Automation SME IPO subscribed 29.89 times on Day 2 led by Retail and NII
The SME Initial Public Offering of Storage Technologies and Automation Limited was subscribed 29.89 times on the second day of bidding led by Retail and NII.
The issue received bids of 8,21,98,400 shares against the offered 27,50,400 equity shares, at a price band of ₹76-78, according to the data available on the SME platform of BSE.
Retail Portion was subscribed 48.05 times, Non-Institutional Investors Portion was subscribed 27.89 times, whereas Qualified Institutional Buyer Portion subscribed 0.12 times. The issue kicked off for subscription on Tuesday, April 30, 2024 and will close on Friday, May 03, 2024.
OneView Corporate Advisors Private Limited is the sole book-running lead manager and Integrated Registry Management Services Private Limited is the registrar to the issue. The equity shares are proposed to be listed on SME Platform of BSE Limited.
- May 03, 2024 08:14
Stock Market Live Today: MojoPMS CIO Sunil Damania: Dismissing ‘Sell in May,’ bullish on Indian equity for long term
Sunil Damania, Chief Investment Officer, MojoPMS
“The adage “Sell in May and Go Away” originated from the practices of British brokers on the London Stock Exchange, who historically took extended summer vacations. However, contemporary market dynamics have rendered this notion obsolete, as trading activity remains robust year-round with no significant impact on volume or liquidity during the summer months.
Examining market trends over the past decade reveals a pattern of positive returns in nine out of ten instances for the three-month period ending in July. This suggests that holding investments from April to July typically yields favourable results, with the sole exception occurring in 2019, coinciding with an election year. Given the current electoral landscape, there exists a likelihood of profit booking in anticipation of market shifts.
Presently, market sentiment reflects confidence in the Modi government’s continuity, with positive expectations already factored into pricing.
While the short-term outlook may appear subdued, our assessment of the equity market for the medium to long term is notably bullish. We maintain a strong conviction that the Indian equity market is poised for significant growth, potentially doubling from the current election cycle to the subsequent one.
Therefore, investors facing short-term uncertainties are encouraged to adopt a perspective focused on long-term gains.”
- May 03, 2024 08:13
Stock Market Live Today: Geojit Financial’s VK Vijayakumar: Indian bull market defies ‘sell in May and go away’ tradition
V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
“We are in a bull market. Nifty has tripled from the 2020 March lows. Explosive growth in the number of demat accounts from around 4 crores in March 2020 to above 15 crores now indicates the arrival of the retail investors. Indian retail investors, HNIs and DIIs are calling the shots in this bull market and FIIs are consistently losing the tug of war going on in the market. The rally is fundamentally supported by impressive GDP growth and decent corporate earnings. In such a scenario, old trends and sayings like “sell in May and go away” do not hold good.
The market has already discounted the NDA/BJP in the elections. Therefore, the election outcome is unlikely to influence the market beyond a point. However, the market is likely to react to the Budget which the prime minister has already indicated will be ‘transformational’.
Investors may adopt a multi-asset investment strategy, going forward, with investment in equity, fixed income and gold. The highest weightage should certainly be for equity.”
- May 03, 2024 08:12
Stock Market Live Today: Sectoral Outlook: Auto-Roundup | April 2024 – LKP Securities
We remain positive on the sector with a cautious view. Our choice is in the following order –2W, PVs and CVs. Stocks specifically, within the 2Ws, we like Bajaj Auto more than its other two rivals as we see green shoots in the exports now (36% of total volumes). Also the EV strength gaining from Chetak and launch of e-3W can be additional positives. Domestically on the motorcycles side we expect new launches especially the premium ones (Bajaj + KTM + Triumph) to assist posting decent numbers. Market leadership on the 3Ws takes care of profitability.
While on the PV side, we like M&M because of its strength in the proliferating SUV segment, prudent capital allocation and a robust growth strategy in UVs, EVs and CVs. For MSIL, however, we are concerned about its over dependence on SUVs for growth, as rest of the segments are underperformers, particularly the small car segment.
We like Ashok Leyland within CVs as it has a diversified revenue base deriving from LCVs, Defense, MHCVs, exports and spares. We are a cautious on CVs as we need to closely watch for the growth profile hereon considering the tapering off of the CV cycle. Tata Motors too looks good on JLR strength and domestic EV market leadership. However, the recent rally has limited its upside.
- May 03, 2024 08:11
Stock Market Live Today: CareEdge-ESG gets SEBI nod to begin ESG rating activity
CARE ESG Ratings Limited (CareEdge-ESG) (formerly known as CARE Advisory Research & Training Limited), a wholly owned subsidiary of CARE Ratings Limited, has received approval from the Securities and Exchange Board of India (SEBI) to function as a Category I ESG Ratings Provider (ERP). Having received the registration under the SEBI (Credit Rating Agencies) Regulations, 1999[1] on May 2, 2024, CareEdge-ESG will commence its environmental, social and governance (ESG) rating activity.
- May 03, 2024 08:10
Stock Market Live Today: InCred Capital’s investment banking secures major deals in M&A and capital markets
Investment Banking business of InCred Capital has closed another coveted deal, a mark of the significant strides it has been making in M&A, ECM (Equity Capital Markets) and DCM (Debt Capital Markets).
After the highly successful INR 3,693 Cr IndiaBulls Housing Finance rights issue, which saw total subscription of INR 7,517 Cr, InCred Capital has now announced its lead role in the successful capital raise by UGRO Capital Limited for its capital raise of INR 1,333 Crore
- May 03, 2024 08:09
Stock Market Live Today: Indian Energy Exchange Limited: MEDIA RELEASE: IEX POWER MARKET UPDATE, APRIL 24
● IEX ACHIEVES 9,044 MU TOTAL VOLUME IN APR’24, AN INCREASE OF 14.1% YOY
● DAM PRICE IN APRIL AT Rs 5.1/UNIT, LOWER BY ALMOST 45% AS COMPARED TO BILATERAL CONTRACTS
● RECORD LOW REC PRICE AT Rs. 204 PER REC, AS AGAINST Rs. 1000 IN APR’23
● REC VOLUME AT 618 MU, UP 211% YOY
● GOVERNMENT MANDATES SALE OF SURPLUS POWER ON POWER EXCHANGES
- May 03, 2024 08:08
Fund Flow Activity: 02 May 2024
Provisional Cash Rs. In Crs.
FII/FPI: NET SELL: -964.47
(16786.8 – 17751.27)
DII: NET BUY: +1352.44
(15122.33 – 13769.89)
- May 03, 2024 08:08
Stock Market Live Today: Q4FY24 EARNING CALENDAR 03.05.2024
AARTIDRUGS, ADANIGREEN, BRITANNIA, CARBORUNIV, FSL, GOCOLORS, GODREJPROP, HFCL, INOXGREEN, INOXWIND, JSWINFRA, MRF, MRPL, PAUSHAKLTD, RAYMOND, TATATECH, TATVA, TITAN
- May 03, 2024 08:07
Researchbytes Events Update as of 07:18 AM Friday 03 May 2024
10:00 AM R Systems Intl
Dial: +91 22 6280 1139
11:00 AM Blue Star
Dial: +91 22 6280 1102
12:00 PM KEI Industries
Dial: + 91 22 6280 1455
3:00 PM RailTel Corp
Dial: +91 22 6280 1272
3:00 PM Tips Films
Dial: +91 22 6280 1550
3:30 PM Linc PenandPlas
4:00 PM Ceat
Dial: +91 22 6280 1149
4:00 PM Lloyds Metals and Energy
Dial: +91 22 6280 1224
4:00 PM Godrej Prop
Dial: +91 22 6280 1302
4:00 PM Privi Speciality
Dial: +91 22 6280 1309
4:00 PM Ugro Capital
(Investor/Analyst Presentation)
Dial: +91 22 6280 1325
4:00 PM HSIL
Dial: +91 22 6280 1325
4:00 PM Firstsource Sol
Dial: +91 22 6280 1356
4:00 PM AssocAlcohols
Dial: +91 22 6280 1557
4:00 PM Bharat Wire Rop
Dial: 044 7126 3432
4:30 PM South IndBk
Dial: +91 22 6280 1144
4:30 PM JSW Infrastructure Ltd
Dial: +91 22 6280 1144
5:00 PM Titan Company
5:00 PM HFCL
5:00 PM Inox Wind
(Press Release )
Dial: +91 22 6280 1144
5:00 PM Go Fashion (India)
Dial: +91 22 6280 1309
5:00 PM Tatva Chintan Pharma Chem
Dial: +91 22 6807 7153
( Hosted by Isec )
6:00 PM Tata Technologi
Dial: +91 22 6280 1124
6:05 PM Inox Green Ene
Dial: +91 22 6280 1144
Greenpanel Industries : (replay)
Replays available at www.researchbytes.com
- May 03, 2024 08:02
Stock Market Live Today: Securities in F&O Ban For Trade Date 03-May-2024
* ABFRL
* BIOCON
* VODAFONE IDEA
- May 03, 2024 08:01
Stock Market Live Today: Economic Calendar – 06.05.2024
U.K., Japan and Korea @ Market Holiday
10.30 India HSBC Service PMI (Previous: 61.2)
13.30 Euro Final Service PMI (Previous: 52.9)
- May 03, 2024 08:01
Stock Market Live Today: Economic Calendar – 03.05.2024
Japan and China @ Market Holiday
14:00 U.K. Final Service PMI (Expected: 54.9 versus Previous: 54.9)
18:00 U.S. Non-Farm Employment Change (Expected: 238K versus Previous: 303K)
18:00 U.S. Unemployment Rate (Expected: 3.8% versus Previous: 3.8%)
18:00 U.S. Average Hourly Earnings m/m (Expected: 0.3%versus Previous: 0.3%)
19:15 U.S. Final Service PMI (Expected: 50.9 versus Previous: 50.9)
19:30 U.S. ISM Services PMI (Expected: 52.0 versus Previous: 51.4)
- May 03, 2024 08:00
Stock Market Live Today: Major U.S. listed stocks result calendar 03.05.2024
Hershey Company (The) (Pre market) (Sector – Manufacturing)
TC Energy Corporation (Pre market) (Sector – Energy)
Cheniere Energy, Inc. (Pre market) (Sector – Energy)
CBRE Group, Inc. (Pre market) (Sector – Realty)
Corebridge Financial Inc. (Pre market) (Sector – Financials)
Trimble Inc. (Pre market) (Sector – Technology)
Magna International, Inc. (Pre market) (Sector – Automobiles)
Cboe Global Markets, Inc. (Pre market) (Sector – Financials)
Brookfield Renewable Partners L.P. (Pre market) (Sector – Energy)
Berkshire Hathaway Inc. (Tentative) (Sector – Financials)
Credicorp Ltd. (Tentative) (Sector – Financials)
- May 03, 2024 07:50
Stock Market Live Today: HDFC Manufacturing Fund: Should you invest in the NFO?
Investing in manufacturing, while promising, requires caution due to its cyclical nature and external dependencies, advising investors to allocate only a portion of their portfolio to this sector for diversification
- May 03, 2024 07:29
Stock Market Live Today: Dabur India says Badshah Masala products are in compliance with domestic and international norms
Dabur India has said that Badshah Masala’s spice products comply with FSSAI norms for the domestic market, and international export consignments are screened by the Spice Board of India. It added that spice products for international markets undergo steam sterilisation, and there is an in-house micro lab for microbial testing of batches.
- May 03, 2024 07:05
Stock Market Live Today: Today’s Stock Recommendation: 3rd May, 2024
Here’s an interesting stock idea: The stock idea that we have for you today is Hindustan Petroleum Corporation (HPCL). The corrective fall has ended, and the stock has begun a new leg of upmove. That keeps the broader uptrend intact and the share price can go up further in the coming days.
- May 03, 2024 07:03
Stock Market Live Today: First Abu Dhabi Bank, Mizuho Bank in race for SBI’s stake in Yes Bank
Within days of State Bank of India putting its 25 per cent stake in Yes Bank on the block, interest is visible from West Asia and Japan.
According to four bankers aware of the matter, UAE’s largest bank, First Abu Dhabi Bank (FAB), and Japan’s leading lender, Mizuho Bank, have shown interest acquiring SBI’s stake in Yes Bank.
- May 03, 2024 07:01
Stock Market Live Today: Stock to buy today: Hindustan Petroleum Corporation (₹533.20): BUY
Hindustan Petroleum Corporation (HPCL) share price can rise to ₹620
- May 03, 2024 07:00
Stock Market Live Today: Trading guide for May 03, 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
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