Stock Market LIVE Updates: GIFT Nifty indicates a flat start; US markets mixed, Asian gains

Oct 28, 2024

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Sensex Today | Stock Market LIVE Updates: All the sectoral indices are trading in the green with bank, auto, metal, media up 1 percent each. Shriram Finance, ICICI Bank, SBI, Hindalco Industries, M&M are among the top gainers on the Nifty, while losers are Coal India, ONGC, Sun Pharma, L&T, Apollo Hospitals.BSE Midcap and Smallcap indices are up 0.5 percent each.

October 28, 2024 / 10:52 IST

Stock Market Today

Moneycontrol.com

October 28, 2024 / 10:52 IST

Maruti Suzuki Q2 Preview: Revenue, net profit to remain flat on tepid volume, demand

Four-wheeler volumes for Maruti Suzuki declined 2 percent on-year, while the total domestic volumes slipped 7 percent, largely led by a slowdown in entry-level cars and high discounting….Read More
October 28, 2024 / 10:49 IST

Earnings Watch | Bandhan Bank shares rise 8% after Q2 profit up 30%

#1 Profit jumps 30 percent to Rs 937 crore Vs Rs 721 crore, YoY

#2 Net interest income grows 21 percent to Rs 2,948 crore Vs Rs 2,443 crore, YoY

#3 Net interest margin expands to 7.4 percent Vs 7.2 percent, YoY

# 4 Gross NPA rises to 4.68 percent Vs 4.23 percent and net NPA increases to 1.29 percent Vs 1.15 percent, QoQ
October 28, 2024 / 10:44 IST

Sensex Today | BSE Auto index up 1%; M&M, Cummins India, Apollo Tyres, among major gainers
October 28, 2024 / 10:40 IST

Brokerage Call | HSBC keeps ‘hold’ rating on RR Kabel, target cut to Rs 1,700 from Rs 1,900

#1 Q2 revenue missed expectations on exports weakness

#2 Commodity volatility impacted EBITDA margin

#3 Management lowered volume growth and margin guidance
October 28, 2024 / 10:35 IST

Sensex Today | Ashapura Minechem shares extend losses on second day

The Special CBI Court at Bengaluru pronounced the company and its chairman guilty under section 120-B, 420 and 379 of the IPC in a certain matter.
October 28, 2024 / 10:32 IST

Brokerage Call | HSBC keeps ‘buy’ rating on Shriram Finance, target raises to Rs 3,725

#1 Q2 reinforced view that company is in its most convincing operating period since 2010

#2 Delivery on all parameters was strong

#3 Guidance was re-iterated and there were no misses in asset quality or growth
October 28, 2024 / 10:31 IST

Diwali 2024: Tepid returns, higher volatility expected as multiple concerns loom this Samvat 2081

Analysts warn that the mid-and small-cap segments, which have rallied significantly over the past 12 to 18 months, could face sharper declines if earnings fail to meet expectations. …Read More
October 28, 2024 / 10:29 IST

Brokerage Call | Jefferies maintains ‘buy’ rating on Bandhan Bank, target at Rs 240

#1 Q2 profit not only beat estimates but quality of MFI loans has held-up well

#2 Quality of MFI loans confirms our assessment that company can outperform peers in this MFI-cycle

#3 Conservative cooling-off period, high share of unique borrowers has paid-off

#4 Hike in credit-score & slower growth over 2 years has paid-off

#5 Rise in slippages & overdues are manageable with limited earnings impact
October 28, 2024 / 10:24 IST

IDFC First Bank shares crash 9% after reporting 73% fall in Q2 net profit

Provisions for Q2 FY25 stood at Rs 1,732 crore, primarily on account of prudent provisioning buffer of Rs 568 crore, the bank said in a statement. …Read More
October 28, 2024 / 10:21 IST

Stock Market LIVE Updates | Veranda Learning Solutions signs MoU with M.O.P. Vaishnav College

Veranda IAS, a Veranda Learning enterprise, announced its association with M.O.P. Vaishnav College for Women (Autonomous), a premier educational institution in Chennai.

Both will jointly offer a Diploma in Governance and Policy Studies, providing students of M.O.P. Vaishnav College (Autonomous) with the knowledge and skills necessary to navigate the complex landscape of public policy and governance.
October 28, 2024 / 10:20 IST

Brokerage Call | HSBC retains ‘hold’ rating on Bank Of Baroda, target Rs 270

#1 Q2 high non-core income offset pressure from NIM, fee income & ad Hoc provisions

#2 Q2 asset quality was stable

#3 Over FY25-27, expect stable operating profitability

#4 Credit cost normalisation will likely impact RoA

#5 EPS growth outlook remains muted, valuing the shares at 1x FY26 BVPS
October 28, 2024 / 10:13 IST

Brokerage Call | Morgan Stanley keeps ‘equal-weight’ call on DLF, target at Rs 910

#1 Q2 pre-sales missed our expectation due to approval delays

#2 Market is focused on LUX5 launch this quarter

#3 Company confident in achieving Rs 17,000 crore for FY25, with LUX5 in Q2 and Mumbai project in Q4

#4 LUX5 (with 70 percent gross margin) should help sustain development margin above 40 percent
October 28, 2024 / 10:10 IST

Earnings Watch | Central Depository Services shares jump 4% post Q2 profit zooms 48%

#1 Profit zooms 48.6 percent to Rs 162 crore Vs Rs 109 crore, YoY

#2 Revenue grows 55.4 percent to Rs 322.3 crore Vs Rs 207.3 crore, YoY

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