04:50:12 PM IST, 29 January 2024
Bajaj Finance Q3 Results: Key Highlights
- Customers acquired during 03 FY24 were approximately 38,500. Its customer franchise as of 31 December 2023 was approximately 656,300.
- Margin trade financing (MTF) book stood at Rs 3, 167 crore as of 31 December 2023 as against Rs 1,080 crore as of 31 December 2022.
- Net interest income in Q3 FY24 was Rs 31 crore as against Rs 22 crore in Q3 FY23.
- Net total income in 03 FY24 was Rs 74 crore as against Rs 46 crore in Q3 FY23.
- BFinsec generated profit before tax of Rs 22 crore in Q3 FY24 against Rs 5 crore in Q3 FY23.
- BFinsec generated profit after tax of Rs 16 crore in Q3 FY24 against Rs 3 crore in Q3 FY23
04:46:41 PM IST, 29 January 2024
Bajaj Finance Q3 Results: PAT at Rs 3639 cr vs ET NOW poll of Rs 3750 cr
03:55:37 PM IST, 29 January 2024
Piramal Ent Q3 Results: Loss of ₹2,377.6 cr, revenue at ₹2,475.7 cr
03:55:31 PM IST, 29 January 2024
Apollo Pipes Q3 Results
- Net profit at Rs 9.08 cr versus profit at Rs 4.86 cr
- Revenue from operations at Rs 222 cr versus Rs 237 cr
03:43:25 PM IST, 29 January 2024
Rupee falls 3 paise to close at 83.14 (provisional) against US dollar.
The domestic market underwent an upturn as the recent selloff and positive Asian peers provided an opportunity to accumulate quality stocks. Despite premium valuations, confidence is upheld among investors due to the optimistic environment surrounding the interim budget and recent set of results aligning with forecasts. Globally, the upcoming FED policy stands out as a crucial factor. While a rate cut by the FOMC is unlikely, investors will eagerly monitor their commentary to get cues on future rate paths.
– Vinod Nair, Head of Research, Geojit Financial Services
03:38:08 PM IST, 29 January 2024
Top gainers & losers in closing trade
03:36:03 PM IST, 29 January 2024
Closing Bell: RIL, banks drive Sensex 1,241 pts higher; Nifty above 21,700; ONGC zooms 9%
03:16:44 PM IST, 29 January 2024
Holcim’s biggest shareholder backs plan to list North American business
Holcim’s biggest shareholder has given his backing to the building material company’s plan to spin off its North American business through a listing on the New York Stock Exchange. Swiss billionaire Thomas Schmidheiny, the great grandson of Holcim’s founder and a former chairman of the company, owns around a 7% stake in the company, according to his spokesperson.
03:14:05 PM IST, 29 January 2024
Stock Market LIVE Updates: Gail (India) Q3 Results
- PAT at Rs 2843 crore vs Rs 246 crore YoY
- Revenue at Rs 34254 crore vs Rs 35380 crore YoY
03:12:48 PM IST, 29 January 2024
Mutual funds’ collects Rs 63,854 cr through NFOs in 2023
Asset management companies launched 212 new fund offerings mobilising Rs 63,854 crore in 2023, marginally higher from previous year, on the back of significant uptrends in broader markets. In comparison, Asset Management Companies (AMCs) garnered Rs 62,187 crore through 228 New Fund Offerings (NFOs) in 2022. Further, they collected Rs 99,704 crore in 2021 and Rs 53,703 crore in 2020, according to data compiled by Morningstar India.
03:17:15 PM IST, 29 January 2024
Stock Market LIVE Updates: Dollar steady before Fed in data-heavy week
The dollar index, which measures the US currency against six rivals, was little changed at 103.53 on Monday and remained close to the six-week high of 103.82 it touched last week. The index is set for a 2% gain in January as traders temper expectations of early and deep U.S. interest rate cuts.
03:06:35 PM IST, 29 January 2024
NABARD to issue over 5-year bonds
India’s National Bank for Agriculture and Rural Development (NABARD) plans to raise Rs 70 billion ($842.23 million), which includes a greenshoe option of Rs 50 billion, through the sale of bonds maturing in five years and three months, three bankers said on Monday. The state-run company has invited bids from investors and bankers on Wednesday, they said. Earlier this month, NABARD raised Rs 44.90 billion via the reissue of its 7.80%, March 2027 bonds at a yield of 7.80%.
03:04:44 PM IST, 29 January 2024
Mutual funds collect Rs 63,854 cr through NFOs in 2023
Asset management companies launched 212 new fund offerings mobilising Rs 63,854 crore in 2023, marginally higher from the previous year, on the back of significant uptrends in broader markets. In comparison, Asset Management Companies (AMCs) garnered Rs 62,187 crore through 228 New Fund Offerings (NFOs) in 2022. Further, they collected Rs 99,704 crore in 2021 and Rs 53,703 crore in 2020, according to data compiled by Morningstar India.
Indian equity markets rose sharply today on the back of great expectations from the upcoming budget and strong cue from other Asian markets. Private sector banks in particular have driven the market rally as DII’s continue value picking at current levels. We believe that the volatility will continue in the coming days as the results season unfolds. The market will also be keenly looking at the upcoming FED meet to see any change in body language, inflation expectations and rate cut cues.
– Mr. Manish Jain, Head – Fund Management, Centrum
The surge in the Nifty 50 can be largely attributed to investor optimism in anticipation of the upcoming interim budget, where significant allocations are expected in key sectors like infrastructure and energy. This optimism is not unfounded, as government spending in these areas typically signals robust growth prospects, thereby attracting investor interest. Additionally, specific sectors such as defence and railways are experiencing a surge, likely due to expectations of targeted fiscal stimulus. This sector-specific rally is a strong contributor to the overall index performance, as these sectors form a substantial part of the Nifty 50.
– Sonam Srivastava, smallcase Manager, Wright Research – Founder
02:19:25 PM IST, 29 January 2024
IN SPOTLIGHT: Oil stocks jumped up to 8% on Monday led by gains in state-run Oil & Natural Gas Corporation (ONGC) and market heavyweight Reliance Industries (RIL) on fuel supply concerns in the aftermath of a missile attack on a Trafigura-operated fuel tanker in the Red Sea.
The latest breakout in the oil and gas index has propelled the sector into positive territory. The recent consolidation in the Nifty Oil and Gas index concluded with an upside breakout, indicating an increased optimism in the space that may persist in the coming days. Therefore, the sudden surge in energy stocks might continue to bolster the headline index in the short term.
– Rupak De, Senior Technical Analyst, LKP Securities
01:58:45 PM IST, 29 January 2024
Stock Market LIVE Updates | Nifty scales past 21,700; Sensex soars 1,200 points
01:50:39 PM IST, 29 January 2024
BEL Q3 Results: PAT stood at Rs. 893.30 cr, with a growth of 49.19% over the profit of Rs. 598.77 cr recorded in the corresponding period of the previous year.
01:43:51 PM IST, 29 January 2024
BPCL Q3 Results: PAT at Rs 3397 cr vs ETNow poll of Rs 3271 crore
Revenue at Rs 1.15 lakh crore vs ET NOW poll of Rs 1.05 lakh crore
01:28:11 PM IST, 29 January 2024
Sensex Today | Stock Market LIVE Updates: Adani Green announces the completion of funding of the reserves forthe USD 750 million Holdco Bond; stock surges 5%
01:27:15 PM IST, 29 January 2024
Adani Green Q3 Results: Revenue up 57% YoY to Rs. 5,794 crore; net debt to run-rate EBITDA at 4.98x v/s 5.6x last year
- EBITDA 1 up 52% YoY to Rs. 5,412 crore with industry-leading EBITDA margin of 92%
- Cash profit increases 61% YoY to Rs. 2,944 crore
- Run-rate EBITDA stands at a strong Rs. 7,806 crore
- Operational Capacity increases 16% YoY to 8,478 MW
- Sale of energy increases 59% YoY to 16,293 million units
01:24:31 PM IST, 29 January 2024
Sensex Today | Stock Market LIVE Updates: Investment Opportunities V sells entire 9.88% stake in PNB Housing Finance; stock down 2%
01:16:13 PM IST, 29 January 2024
Pre-Budget expectations: Vivek Iyer, Partner, Financial Services-Risk, Grant Thornton Bharat
Expectations for the Budget 2024, deemed an interim budget, do not foresee significant announcements. The primary emphasis is anticipated to remain on bolstering micro, small, and medium enterprises (MSMEs), fostering ease of doing business, advancing digital infrastructure, and enhancing financial inclusion. Regarding the Financial Services sector, the interim budget is expected to stimulate sectoral growth by addressing key areas such as reinforcing and streamlining the regulatory framework for fintechs, ensuring the profitability of public sector banks, effective management of non-performing assets (NPAs), providing clarity on capital gains taxation, and potentially reducing GST on select insurance products.
01:11:15 PM IST, 29 January 2024
Sensex Today | Stock Market LIVE Updates: Rolls-Royce signs long term contractof 7 years with Azad Engineering to produce/Supply critical engine parts for theirdefence / military aircraft engines.
01:11:15 PM IST, 29 January 2024
Sensex Today | Stock Market LIVE Updates: Tata Power Renewable Energy Limited commissions 1040 kW Bifacial Solar System project with Chengmari TeaEstate, Asia’s largest tea estate.
01:02:33 PM IST, 29 January 2024
Sensex Today | Stock Market LIVE Updates: Man Infraconstruction gets occupancy certificate for remaining towers in Aaradhya Oneearth Project.
12:53:46 PM IST, 29 January 2024
SENSEX SURGES 1,100 PTS: Here’s how top stocks are trading
12:44:42 PM IST, 29 January 2024
Sensex Today | Stock Market LIVE Updates: Veranda Learning Solutions announces strategic alliance with BVM Global Schools
12:33:49 PM IST, 29 January 2024
Tokyo shares close higher
The benchmark Nikkei 225 index rose 0.77 percent, or 275.87 points, to 36,026.94, while the broader Topix index added 1.27 percent, or 31.83 points, to 2,529.48.
12:21:44 PM IST, 29 January 2024
Stock Market LIVE Updates | IN SPOTLIGHT: RIL shares rise over 4%
The company’s m-cap zooms past 19 lakh crore,
12:19:27 PM IST, 29 January 2024
Sensex Today | Stock Market LIVE Updates: Check out the top gainers as Sensex rallies 1000 points
12:18:12 PM IST, 29 January 2024
Sensex Today | Stock Market LIVE Updates: SENSEX SOARS 100 POINTS!
11:59:06 AM IST, 29 January 2024
Sensex Today | Stock Market LIVE Updates: Arguing that Adani Group has become too big to ignore, US brokerage firm Cantor Fitzgerald initiated coverage with overweight rating on Adani Enterprises and a target price of Rs 4,368, which signals an upside potential of 51% from last week’s close.
11:49:55 AM IST, 29 January 2024
SENSEX SOARS 900 PTS: RIL, HDFC Bank top contributors
11:47:16 AM IST, 29 January 2024
Stock Market LIVE Updates | Shares of SBI Cards and Payment Services: Motilal Oswal gives Neutral rating | Target: Rs 850
Motilal downgraded its rating to ‘Neutral’ with a revised target price of Rs 850 premised on 21x September 2025E EPS. Calling its Q3 earnings as “sub-par”, the brokerage held elevated provisions to be a pain point. “While we expect SBICARD to deliver healthy earnings CAGR over FY 2024-26, the disappointing earnings run-rate over the past several quarters has driven a consistent cut in our estimates along with limited near term earnings visibility (which) keeps us watchful,” the brokerage said.
11:36:07 AM IST, 29 January 2024
Sensex Today | Stock Market LIVE Updates: Shares of AU Small Finance Bank Ltd on Monday tumbled nearly 12 per cent after the company reported a 4 per cent decline in net profit at Rs 375 crore for the third quarter ended December 2023, mainly due to a rise in bad loans. The stock plunged 11.72 per cent to Rs 625 on the BSE.
11:34:58 AM IST, 29 January 2024
Stock Market LIVE Updates | IRB Infrastructure Developers shares rallied 15% to Rs 58.2 in Monday’s trade on BSE after Yedeshi Aurangabad Tollway Ltd (YATL), a special purpose vehicle of IRB Infrastructure Trust, won an arbitration award of Rs 1,720 crore for a highway project, a statement said.
11:06:40 AM IST, 29 January 2024
Sensex Today | Stock Market LIVE Updates: VA Tech Wabag Limited and Peak Sustainability Ventures join hands in MOU for installing 100 Bio-CNG plants at sewage treatment facilities
10:51:47 AM IST, 29 January 2024
Sensex Market LIVE Updates: SENSEX SURGES 800 POINTS
10:37:06 AM IST, 29 January 2024
Stock Market LIVE Updates: 10 out of the 10 Adani Group stocks were trading higher in Monday’s trade with three of them, Adani Power, Adani Energy Solutions, and Adani Enterprises trading 5-6% higher, while Adani Green Energy, Adani Ports, Adani Total Gas, NDTV, and Adani Wilmar surged 3-5%.
10:20:12 AM IST, 29 January 2024
Stock Market LIVE Updates | Qualitek Labs shares list at 90% premium over IPO price
Ahead of the listing, there was no definitive GMP for Qualitek Labs shares in the unlisted market.
10:17:16 AM IST, 29 January 2024
Stock Market LIVE Updates | Nifty stayed beneath 21,500; Bank Nifty slipped below 45k; higher implied vols’ to keep mkts choppy: YES Securities
Rollovers for Nifty/Bank-Nifty stood at 81% (~1.29cr OI)/77% (~37 lakh OI). Nifty’ open interest base has shrunk 7%, while BankNifty OI base soared by 63% eoe. At the start of the month, FIIs’ index futures long/short ratio was above 2x which is now 0.28x. Nifty will continue to remain choppy. Mixed action among the sectoral indices is expected to continue, hence ideal strategy would be to continue focusing on stock-specific action. With higher rollovers, open interest base has risen in the Banking, Realty and Infra spaces. Realty and Auto indices are likely to face consolidation, while cement stocks still show relative strength with higher rolls.
10:02:20 AM IST, 29 January 2024
Sensex Today | Sensex surges over 700 points
09:59:57 AM IST, 29 January 2024
KEY Q3 RESULTS TODAY: NTPC, ITC, Bajaj Finance, Adani Green, Vodafone Idea, BPCL
09:57:32 AM IST, 29 January 2024
Stock Market LIVE Updates | Earnings Impact: Tata Technologies posted 14.7% year-on-year rise in consolidated profit in December quarter, helped by strong demand from the automobile sector.
09:52:30 AM IST, 29 January 2024
Sensex Today | Stock Market LIVE Updates: Zee Entertainment founder Subhash Chandra’s family will eventually lift their stake in the Indian media house to 26% from 4% but has no plans to raise external funds, the Mint reported on Monday based on an interview with Chandra, days after a merger with Sony’s India unit collapsed.
09:51:54 AM IST, 29 January 2024
JM Financial initiates coverage on Yatra: BUY | Target Price: Rs 220
The market is typically looked at from the prism of marketplaces that serve the B2C customers that are commonly referred to as OTAs. What gets missed out is that OTAs address only a fraction of the total travel demand despite employing aggressive customer acquisition strategies, and that a decent proportion of the demand is fulfilled by offline marketplaces (that serve the B2E and B2B2C customers).
Our interactions with industry experts suggest both online as well as offline channels are benefitting from global travel tailwinds as demand is broadly secular across the channels. In fact, we see significant value creation happening through decently scaled up offline players, as the market is fragmented and serviced by unorganised players and, therefore, ripe for consolidation.
We believe Yatra – the largest B2E focused travel platform in India (basis number of corporate clients in FY23) – can be a major beneficiary of some of these trends and initiate coverage with a BUY rating and Mar’25 TP of INR 220.
09:44:19 AM IST, 29 January 2024
Rupee falls 4 paise to 83.15 against US dollar in early trade.
09:32:23 AM IST, 29 January 2024
Sensex Today | Stock Market LIVE Updates: Sensex surges 600 points in a bumper start to the week
09:24:20 AM IST, 29 January 2024
Morning market view from Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
The turbulence in the Red Sea is turning out to be a serious issue. Brent crude has spiked to $83.
Stock specific action in response to Q3 results and news is likely. LIC getting RBI approval to raise their stake in HDFC Bank is positive for the latter. Since FII selling is sustained and high the bears will use rallies to sell.
09:21:31 AM IST, 29 January 2024
Stock Market LIVE Updates | Earnings Impact: Macrotech Developers reported net profit of Rs 503 crore in the third quarter. Revenue from operations stood at Rs 2,931 crore.
09:20:45 AM IST, 29 January 2024
Stock Market LIVE Updates | Earnings Impact: YES Bank on Saturday reported robust growth in profit for the December quarter, with the bottomline surging more than four times year-on-year (YoY) to Rs 231 crore.
09:19:37 AM IST, 29 January 2024
Sensex Today | Stock Market LIVE Updates | NBCC, NHPC among most active stocks in morning trade
09:18:47 AM IST, 29 January 2024
Opening Bell: Sensex climbs 400 points, Nifty above 21,450; TechM, Tata Steel rise 2% each
09:11:19 AM IST, 29 January 2024
Pre-open Market View: Prashanth Tapse, Senior VP (Research), Mehta Equities
Meanwhile, technical analysis on Nifty suggests a critical support at 21137 and resistance at 21757. Today’s focus is on Q3 corporate earnings, and preferred trades include buying Nifty and Bank Nifty at specified levels. Notable stock picks for intraday trading are AUROBINDO PHARMA, IOC, TATA POWER, COAL INDIA, and DR REDDYS LAB, with TATA POWER identified as the standout stock for immediate consideration, exhibiting breakout potential.
09:08:24 AM IST, 29 January 2024
Sensex Today | Stock Market LIVE Updates: Pre-open session: Sensex gains 200 points; Nifty above 21,440
08:36:23 AM IST, 29 January 2024
Trading halts for Evergrande on Hong Kong stock exchange
Stock trading in Chinese real estate giant Evergrande Property Services was halted in Hong Kong on Monday after a court issued a winding-up order against the company. “Trading in the shares of… Evergrande Property Services Group Limited has been halted at 10:19 a.m today,” the city’s stock exchange said. It also halted trading in its electric vehicle subsidiary at the same time. (Source: AFP)
07:58:08 AM IST, 29 January 2024
Sensex Today | Stock Market LIVE Updates: Gold gains as Middle East tensions lift safe-haven appeal
Gold prices rose on Monday as escalations in the Middle East triggered safe-haven buying, while traders awaited U.S. Federal Reserve’s chair Jerome Powell’s remarks at the end of its two-day policy meet this week for interest rate outlook.
