Stock Market Live: ITC Share Price Gains After Q1 Profit Rises 21%
ITC share price spikes 1.45% after the company posted first-quarter results. The company reported a flat net profit, but its revenue saw a 21% rise.
The cigarette maker posted a profit of Rs 4,912.36 crore, as against Rs 4,917.45 crore in the year-ago period. The company’s revenue came at Rs 19,749.91 crore as against Rs 16,374.02 crore in the same quarter last year.
Sectoral Performance At Open: Nifty Defence Outperforms
On National Stock Exchange, 14 sectoral indices advanced, and one declined out of 15 sectoral indices. The NSE Nifty Defence advanced the most, and the NSE Nifty IT emerged to be the worst performing index.
Nifty Contributors: ITC, ICICI Bank And HDFC Bank Support Gains
ITC Ltd., ICICI Bank Ltd., HDFC Bank Ltd., Bajaj Finserve Ltd., and Mahindra & Mahindra Ltd. added to the NSE Nifty 50 index.
Infosys Ltd., Eternal Ltd., Tata Consultancy Services Ltd., HCLTech Ltd., and Axis Bank Ltd. weighed on the NSE Nifty 50 index.
Stock Market Today: Nifty, Sensex Rise At Open
The NSE Nifty 50 and BSE Sensex opened higher on Monday as ITC Ltd. and ICICI Bank Ltd. shares advanced. The indices were trading 0.25% and 0.20% higher, respectively as of 9:22 a.m.
Kotak Securities believe that the short-term market outlook is weakening; however, a fresh selloff is possible only if the 24,500/80400 level is broken below. If that happens, the market could slip to around 24,350/80200. Further downside may continue, potentially dragging the index down to 24,200–24,150/79,700-79,500, said Shrikant Chouhan, head, equity research, Kotak Securities.
Stock Market Today: Nifty, Sensex Rise At Pre-Open
At pre-open, the NSE Nifty 50 was trading 0.12% higher at 24,596.05, and the BSE Sensex was trading 0.21% higher at 80,765.83.
Sri Lotus Developers IPO Allotment: Steps To Check Status, Latest GMP And Other Key Details
The initial public offering of Mumbai-based real estate firm Sri Lotus Developers and Realty Ltd. closed with a strong demand on Aug. 1. The mainboard IPO was overall booked 69.14 times on the last day of subscription.
The public offer received applications for more than 274.18 crore shares against 3.7 crore shares available for bidding.
Yield On The 10-Year Bond Opens Lower
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The 10-year bond yield opened 3 basis points lower at 6.34%
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It closed at 6.37% on Friday
Source: Cogencis
Rupee Opens Stronger Against US Dollar
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Rupee opened 32 paise stronger at 87.22 against US Dollar
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It closed at 87.54 a dollar on Friday.
Source: Cogencis
Suzlon Energy New Overweight Rating From Morgan Stanley — Check Price Target
Morgan Stanley has initiated a positive outlook on Suzlon Energy, maintaining an ‘Overweight’ rating, primarily in response to the Ministry of New and Renewable Energy guidelines for the localisation of wind manufacturing. The broking’s stance is bullish, with a target price of Rs 77 based on the potential for domestic original equipment manufacturers, or OEMs, with Suzlon being a key player.
Stock Market Today: Axiscades Tech Gets Order Worth Rs 224 Crore
Axiscades Technologies received Rs 224-crore order from Indian Army for supply of 212 tank transporter trailers, the company said in the exchange filing.
Stock Market Live Update: Blue Cloud Deploys AI-Powered Video Analytics Platform
Blue Cloud deployed AI-powered video analytics platform AccessGenie at Telangana Anti-Narcotics Bureau, the company said in the exchange filing.
Gold Prices Consolidate As Soft US Economic Data Weigh
Gold prices consolidated in Asia session Monday after four-day gaining streak. Soft US economic data increased bets for rate cuts by the Federal Reserve.
The Bloomberg spot Gold was trading 0.31% down at $3,353.14 an ounce as of 8:10 a.m.
Stock Market Live: Deccan Gold Mines Identifies Potential Platinum Group Elements In Chhattisgarh
Deccan Gold Mines’ potential Ni-Cu-PGE discovery on Bhalukona Nickel project In Chhattisgarh. The PGE stands for platinum group elements, the company said in the exchange filing.
IPO News: JSW Cement & All Time Plastics Set Price Band At Rs 139–147
JSW Cement India set the initial public offer price band at Rs 139–147 apiece, the company said in a statement.
All Time Plastics set the price band at Rs 260–270 apiece.
Stock Market Today: Oil Futures Decline As OPEC+ Raises Supply
Oil futures prices decline as higher supply is expected to rise compared to demand after Organization of Petroleum Exporting Countries and Allies raised the output from September.
The October future contract of Brent was trading 0.34% down at $69.43 a barrel as of 7:44 a.m.
Asia Markets Live Update: Nikkei 225 Falls Over 1%
Markets across Asia–Pacific region were trading on a mixed note as traders assessed the impact of Organisation of Petroleum Exporting Countries and Allies’ latest output hike, and weak jobs data from the US.
The Nikkei 225 was trading 1.87% down as of 7:41 a.m. The CSI 300 was trading 0.02% higher, while the KOSPI was 0.54% higher as of 7:42 a.m.
US Market Update: S&P 500 And Nasdaq 100 Futures Rise
After a slump in US equities on Friday on concern of slow job growth in US and Federal Reserve policy outlook, futures rebounded in Asia session. The S&P 500 and Nasdaq 100 futures were trading 0.26% and 0.31%, higher respectively as of 7:38 a.m.
Stock Market Today: GIFT Nifty Implies Positive Open; ITC, LIC Housing, Tata Motors Shares In Focus
The GIFT Nifty was trading 0.09% or 22 points higher at 24,691.00 as of 6:54 a.m., which implied a positive start for the NSE Nifty 50 index.
ITC Ltd., Shriram Pistons Ltd., ABB India Ltd., LIC Housing Finance Ltd., and Tata Motors Ltd. shares will likely be in focus because of the first-quarter results.
Indian stock markets logged their fifth consecutive week of losses on Friday amid trade uncertainties with the US and persistent foreign institutional outflows.
The NSE Nifty 50 settled 203 points or 0.82% lower at 24,565.35 and the Sensex lost 585.67 points or 0.72% to close at 80,599.91.
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