Markets / Business Today
The government also said that the State and Union Territory Food Safety Departments have been put on alert and urged to take action against violators under the provisions of the FSS Act, 2006.
Pharmaceutical analysts have indicated that the sector's growth outlook remains positive.
Led by strong rise in profitability, these stocks have also rallied sharply and given up to 200% return in the last one year.
The BSE's barometer Sensex rose 88.91 points, or 0.12 per cent to 74,005.94-mark. NSE's Nifty50 gained 35.90 points, or 0.16 per cent, to 22,502.00.
OYO had filed preliminary IPO documents with the Securities and Exchange Board of India (Sebi) for a Rs 8,430 crore IPO in September 2021.
The growth rate of the market value of anti-hypertensives recorded fluctuations over the years but maintained a stable demand overall, according to Pharmatrac data.
Defence players such as Astra Microwave Products and Hindustan Aeronautics have gained 124% and 194%, respectively, since May 17, 2023.
In a recent BSE interaction, Finance Minister Nirmala Sitharaman was questioned by a broker on the hoard of taxes his community has to bear.
ICICI Securities, Morgan Stanley India Company, Axis Capital, Nuvama Wealth Management, HDFC Bank and IIFL Securities are the book running lead managers of the Go Digit IPO.
BSE barometer Sensex rose 129 points, or 0.17 per cent to Rs 74,047-mark. NSE's Nifty50 added 43.05 points, or 0.19 per cent, to 22,509.15.
After purchasing equities worth Rs 13,672 crore from April 8-12, FIIs offloaded Rs 50,260 crore of sharesbetween April 15 and May 17. The buying appetite of DIIs capped the downside. According to data from the exchanges, DIIs bought shares worth Rs 64,400 crore during the same period.
SpiceJet and Singh had approached the Delhi HC where they sought to annul the portion of the award which instructed them to refund Rs 270 crore to Kal Airways and Maran.
NSE and BSE will undergo an intraday switch from the primary site to the disaster recovery (DR) site during the mentioned session.
Brightcom Group share price: The stock plunged 5 per cent to settle at its fresh one-year low of Rs 11.08. At this price, it cracked has 14.18 per cent in three trading days and 25.59 per cent in a month.
Cochin Shipyard share price: The stock surged as much as 6.89 per cent in intraday trade to hit an all-time high of Rs 1,438.65. It eventually settled 5.13 per cent higher at Rs 1,414.90. At this price, the multibagger scrip has gained 107.61 per cent in 2024 so far and 417.43 per cent in a year.
Elections 2024: Voters in Mumbai North, Mumbai North-West, Mumbai North-East, Mumbai North-Central, Mumbai South-Central and Mumbai South will cast their votes on May 20, Monday.
Multibagger stock: Mazagon Dock Shipbuilders stock surged 14.57% to Rs 2794.40 against the previous close of Rs 2439 on BSE. Market cap of Mazagon Dock rose to Rs 55,808 crore.
Stocks to watch: Any potential freebies post elections can significantly re-rate consumer sector. PL likes HUL, ITC, Britannia and Titan Company shares.
If the Indian National Congress (INC)'s INDIA alliance makes a surprise win, it would lead to derating for the domestic stock market, said Prabhudas Lilladher adding that sectors such as defence, capital goods and tourism could take a hit.
The Pune-based Go Digit General Insurance is selling its shares in the price band of Rs 278-272 apiece. Investors can apply for a minimum of 55 shares and its multiples thereafter.
Vedanta has announced investments in Vedanta Copper International VCI Company Limited for setting up of Continuous Cast Copper Rod Plant in Kingdom of Saudi Arabia.
Vodafone Idea share price: The company's consolidated revenue moved 0.7 per cent higher on a year-on-year (YoY) basis to Rs 10,607 crore for the quarter ended on March 31, 2024.
Biocon, founded in 1978, is one of Indias leading biopharma company. It is fully integrated and delivers biopharma solutions, ranging from discovery to development and commercialisation.
L&T share price: Shares of L&T were last seen trading 0.38 per cent lower at Rs 3,446.45 today. At this price, the stock has slipped 2.15 per cent on a year-to-date (YTD) basis.
According to reports, the aircraft sustained damage to its nose and a tyre near the landing gear as a result of the collision. Despite the impact, all passengers and crew members were confirmed to be safe by an airport official with no casualties reported.
CochinShipyardshares gained 3.81% to a high of Rs 1397.25 against the previous close of Rs 1345.90. Market cap of the defence stock stood at Rs 35,880 crore.
Infosys promoters held a total 14.71 per cent stake in the IT firm as on March 31. SD Shibulal held 52,08,673 shares or 0.14 per cent stake while his wife Kumari Shibulalheld 49,45,935 shares or 0.13 per cent stake in the IT firm.
Kaynes Technology share price: Profit after tax (PAT) came at Rs 81.3 crore, up 96.8 per cent on a year-on-year (YoY) basis. During the quarter under review, PAT margin was at 12.8 per cent. Revenue from operations jumped 74.8 per cent (YoY) to Rs 637.3 crore in Q4 FY24.
Multibagger stock: Jindal Steel stock gained 1.65% to Rs 1021.95 against the previous close of Rs 1005.30 on BSE. The stock hit record high for the fourth straight session today after the firm announced its Q4 and FY24 earnings on May 13 post market hours.
Adani Ports was under observation since March 2022, and the decision for exclusion is based on a recommendation from the Council on Ethics of November 21, 2023.
Elections 2024: Antique said the final turnout data may increase further as the Election Commission has provided an optional postal ballot facility for the first time to voters above 85 years.
Vodafone Idea shares rose 0.23 per cent to Rs 13.24 on BSE. The stock is down 22 per cent year-to-date. Motilal Oswal said cost savings resulted in 2 per cent Q4 Ebitda growth, sequentially.
Multibagger stock: Triveni Turbine shares rose 6.84% in early dealsagainst the close of Rs 605.05 in the previous session. The power sector stock has gained 44.09% this year and risen 57.54% in a year.
EClerx Services share buyback: The IT firm said its board has approved the proposal of buy back of not exceeding 13,75,000 fully paid-up equity shares of face value Rs 10 each for an amount not exceeding Rs 385 crore.
LIC Housing's re-rating hinges on higher loan growth, said Prabhudas Lilladher. This brokerage has upped its target price on the stock to Rs 660 from Rs 540 but retained its Hold rating.
Coal India Ltd Stock Price Live: The Coal India Ltd has been in focus today amid company-specific news and/or recent price action on the counter. Coal India Ltd shares settled the previous traded session at 468.30, up 0.1%. The stock has traded in a wide range of 487.60 and 223.25 in the last one year. At last count, the Coal India Ltd sector company commanded a market capitalisation of 2.89 Lakh Crore. Heres a deep dive Coal India Ltd stock performance, peer returns, historical details, & other
REC Ltd Stock Price Live: The REC Ltd has been in focus today amid company-specific news and/or recent price action on the counter. REC Ltd shares settled the previous traded session at 541.10, up 2.35%. The stock has traded in a wide range of 567.15 and 127.40 in the last one year. At last count, the REC Ltd sector company commanded a market capitalisation of 1.42 Lakh Crore. Heres a deep dive REC Ltd stock performance, peer returns, historical details, & other insights
Multibagger stock: Titagarh Rail Systems shares rose 273 per cent in the past one year. Nuvama's target price suggests a 22 per cent further upside on the multibagger stock.
IEX target price: Nuvama said it factors in 17 per cent volume CAGR for FY2426E and 1415 per cent over the long term and yet finds limited upside potential in its DCF-based target price of Rs 119.
Brightcom Group share price: On Brightcom's part, there have been delays in terms of financial reporting, annual general meeting (AGM) scheduling and C-suite level appointments. It was also under Securities and Exchange Board of India's (Sebi's) watch over preferential issue of shares and warrants.
International air traffic that regained the pre-pandemic levels in FY24, is expected to further grow by 10-14% in the current fiscal year.
Vedanta share price: The announcements were made post-market hours today. Vedanta shares slipped 0.96 per cent to settle at Rs 433.20.
Multibagger stock: Adani Power shares, which fell to a 52-week low of Rs 214 on May 19, 2023 ended at Rs 640 on BSE in the current session. On similar lines, the stock has given multibagger returns of 171% in a year.
SIA's financial performance saw a 24 percent surge in earnings, reaching $2.7 billion for the fiscal year ending on March 31, 2024. This growth was attributed to enhanced operational efficiency, reduced tax expenses, and profits generated from its associate companies.
Profit slipped to Rs 2177 crore in the last quarter due to lower revenues and weaker than expected performance in the gas marketing segment.
GP Eco Solutions India reported revenue of Rs 78.40 crore and PAT of Rs 4.73 crore for the nine months ended December 31, 2023
Hong Kong's Hang Seng jumped 1.6 per cent; Japan's Nikkei surged 1.6 per cent while Korea's Kospi was up 0.8 per cent today. It was all on excepted lines after the US inflation overnight allayed investor concerns over rate cuts.
Mahindra & Mahindra on Thursday reported a 31.58 per cent jump on a year-on-year basis in its standalone net profit of Rs 2,038.21 crore in the quarter ended on March 31, 2024.
HAL shares jumped 9.04 per cent to hit a high of Rs 4,562.25 on BSE.HAL said net sales for the quarter came in at Rs 14,768.75 crore compared with Rs 12,494.67 crore in the corresponding quarter last year.
HAL share price: The counter was trading higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150- and 200-day simple moving averages (SMAs). The counter's 14-day relative strength index (RSI) came at 41.61. A level below 30 is defined as oversold while a value above 70 is considered overbought.