Tata seeks control of Haldiram’s, snack maker wants $10 bln valuation -sources
If successfully concluded, a deal would see the Indian conglomerate directly compete with Pepsi and billionaire Mukesh Ambani’s Reliance Retail.
Haldiram’s, a household name in India, is also talking with private equity firms including Bain Capital about the sale of a 10% stake, they said.
India’s top palm oil buyer expects 26% jump in imports to record 10 mln T
Higher purchases by the world’s biggest importer of palm oil could help to lower inventories in top producing Indonesia and Malaysia and support benchmark futures.
Crypto Price Today: Bitcoin rises above $25,700; Solana, Shiba Inu surge up to 3%
Meanwhile, the global cryptocurrency market cap was trading higher, around $1.04 trillion, rising 0.31% in the last 24 hours.
Both Bitcoin and Ethereum have exhibited stability, remaining within a narrow 2% price range in recent days. Notably, open interest in both of these tokens is on the rise, indicating new short positions are being opened, said CoinDCX Research Team.
Govt may cut petrol, diesel price by Rs 3-5 a litre around Diwali
Following the recent cut in domestic LPG prices, the Central government may cut petrol, diesel price by Rs 3-5 a litre around Diwali given that key state elections start from November-December, JM Financial Institutional Securities said in a report.OMCs marketing segment earnings could come under risk if: a) Brent crude price sustains above $85/bbl; and/or b) OMCs are forced to cut petrol/diesel price in the next few months, the report said.
BLOCK DEAL | 1.28 crore shares of JM Financial change hands; stock jumps 4%
Tata Steel and ABB will jointly explore technologies to help reduce the carbon footprint of steel production.
Rupee falls past 83.16 per US dollar to hit lowest in over 10 months
Sensex Today | Share Market Live Updates: Shares of FSN E-Commerce Ventures, which runs Nykaa, jumped 5% to Rs 144 in Wednesday’s trade on BSE. The stock has also rallied over 7% in the last two trading sessions amid reports of a block deal executed on the counter.
Japan shares extend highs as weak yen boosts autos, energy stocks gain
The Nikkei 225 share average finished the day up 0.62% to 33,241.02, its highest close in a month.
The broader Topix added 0.62% to 2,392.53, a fresh 33-year peak.
Sensex Today | Stock Market Live Updates: Kernex Microsystems (India) approved issue of upto 1.3 million share warrants convertible into shares on preferential basis
Sensex Today | Share Market Live Updates: Piramal Enterprises eyes public bond issue, files draft prospectus: Media reports
The company has appointed AK Capital Services, JM Financial, Nuvama Wealth Management and Trust Investment Advisors as lead managers for the proposed bond issue. The bonds are rated AA by Care Ratings and ICRA.
Sensex Today | Share Market Live Updates: Shares of Jio Financial Services fell over 3% to the day’s low of Rs 247 on the NSE in Wednesday’s early trade ahead of its exit from Nifty50 and other indices of the NSE effective from Thursday, September 7.
Sensex Today | Share Market Live Updates: 3 railway stocks Indian Railway Finance Corporation (IRFC), Rail Vikas Nigam (RVNL), and Ircon International fell up to 7% in Wednesday’s trade amid profit booking. Technical analysts also stated that these railway stocks are in overbought territory.
Sensex Today | Share Market Live Updates: GCM Capital Advisors appoints Mr. Manish Baid as the new Chairman & Managing Director
GCM Capital Advisors has accepted the resignation of Mr. Vicky S. Agarwal, existing Chairman & Managing Director and have appointed Mr. Manish Baid as Chairman & Managing Director in place of Mr. Vicky S. Agarwal
Sensex Today | Share Market Live Updates: BLOCK DEAL | 18 lakh shares of Lemon Tree Hotels change hands; stock up 2%
ECD companies in Q1FY24 saw healthy growth in revenue and profit, driven by B2B segment growth. However, B2C demand remained subdued due to factors such as a general consumption slowdown and relatively weak summer conditions. Despite short-term challenges, the industry remains optimistic about demand recovery, anticipating a strong H2 recovery in rural markets and stability in the input cost environment. Prospects remain positive on the industry’s medium- to long-term prospects given macro tailwinds, low penetration for some of the categories, and category expansion opportunities for companies. Upcoming festive season is the key to watch for a boost in demand for consumer applications. Our coverage universe includes Havells, V-Guard and Crompton consumers and we remain positive on the same.
– Avinash Pathak, Research Analyst at LKP Securities
Sensex Today | Stock Market Live Updates: Sugar stocks jump up to 8% amid fears of production drop; Rana Sugar, Renuka top gainers
The top gainer was Rana Sugar which was up 5% in the opening trade. It was followed by Shree Renuka Sugars, The Ugar Sugar, Dwarikesh Sugar, Eid Parry, Triveni Engineering & Industries and Balrampur Chini Mills which gained between 8% and 1.4% in the opening trade.
We believe that the valuation of Mid & Smallcaps remains appealing when compared to the trends of the past seven years. Specifically, Smallcaps appear to be even more attractive than Midcaps in the current scenario. However, considering the overall market consolidation, it’s not an ideal environment for investing in high-risk categories, leading to mixed opinions. Our view is that India is now more of a stock to sector play. We anticipate that the category as a whole will outperform in the medium to long term. Although there has been strong performance in the short term by Mid & Smallcaps, sustaining this in the near term may pose a challenge.
– Vinod Nair, Head of Research at Geojit Financial Services
Sensex Today | Share Market Live Updates: India bond yields continue rising, in tandem with Treasuries
The benchmark 7.26% 2033 bond yield was at 7.2186% as of 10:10 a.m. IST, after ending the previous session at 7.2068%. It has risen by five basis points so far this week.
Sensex Today | Stock Market Live Updates: FPI buying in Indian shares slows to four-month low in August – NSDL data
FPIs bought shares worth 115.25 billion rupees on a net basis in the second half of August, up from 7.37 billion rupees in the first half, as strong domestic macroeconomic data and expectations of a rate pause by the U.S. Federal Reserve at its September policy meeting aided sentiment.
“Though the listing gains are likely to be limited, we believe that the company’s strong brand recall in the MMR region and focus on delivering advanced healthcare makes it lucrative from a medium-to-long-term perspective,” said Prathmesh Masdekar, Equity Research Analys at StoxBox.
Sensex Today | Share Market Live Updates: Shares of Vedanta opened over 2% higher after the firm announced that ownership and operational control of Konkola Copper Mines (KCM) had been returned to the company by the Zambian government.
Nilesh Shah clarifies on report suggesting move to Blackrock MF
Sensex Today | Share Market Live Updates: NBCC surged over 6% as the company signed an MoU with the Kerala State Housing Board for a work order worth Rs 2,000 crore.
Sensex Today | Stock Market Live Updates: Morning view by Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
DIIs have bought stocks worth Rs 5934 crores in the cash market during the last three trading days of September. Retail also is buying, and this ‘ buy on dips’ strategy has worked. The rally in IT stocks has contributed to the resilience of the market. IT and the fairly valued banking stocks, particularly the leading private banks, have the potential to support the market. But investors have to be cautious about the headwinds, particularly the rising crude.
Rupee falls 5 paise to 83.09 against US dollar in early trade
Opening Bell: Sensex rises 50 points, Nifty nears 19,600; Tanla Platforms gains 4%, IRFC drops 4%
Pre-open session: Sensex slips 30 points; Nifty below 19,585
Markets are likely to wobble in early Wednesday trades amid a mixed trend in Gift Nifty index after US markets faltered in overnight trades. A fresh spike in US 10-year and 2-year treasury yields could have a rub-off effect on global equities, including India, as FIIs in such circumstances flee emerging markets to park their funds in safe haven US securities. On the other hand, FIIs selling spree continued as they sold to the tune of Rs 1,725 crore in yesterday’s trade, after having sold shares worth Rs 20,620.70 crore in August. Besides, a surge in global crude oil prices after Saudi Arabia and Russia announced further curb on production could dampen sentiment.
– Prashanth Tapse, Senior VP (Research), Mehta Equities
Sensex Today | Stock Markets Live Updates: Asian stocks fall as global growth concerns mount
Asia stocks fell on Wednesday after weak economic data in China and Europe heightened concerns over global growth, while the dollar firmed as investors weighed the outlook for U.S. interest rates. MSCI’s gauge of Asia Pacific stocks outside Japan was down 0.5% at 0143GMT.
Sensex Today | Share Markets Live Updates: Gold hits 1-week lows on elevated US dollar, yields
Gold slipped to one-week lows on Wednesday, falling further after posting its biggest intra-day decline in a month in the last session, as U.S. Treasury yields and the dollar advanced on expectations that interest rates are likely to remain high.
Markets Live Updates: Dollar firm on growth worries, fragile yen draws warning
The dollar perched near a six-month peak on Wednesday as jitters over China and global growth dragged on risk sentiment, while the yen was close to a 10-month low, drawing the strongest warning since mid-August from Japan’s top currency diplomat.
Markets Live Updates: Tokyo stocks open higher
Tokyo stocks opened higher on Wednesday, shrugging off falls on Wall Street as a cheaper yen against the dollar supported the market.The benchmark Nikkei 225 index was up 0.29 percent, or 96.03 points, at 33,132.79 in early trade, while the broader Topix index was up 0.38 percent, or 9.11 points, at 2,386.96.
Markets Live Updates: GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded 0.5 points, or 0.00 per cent, lower at 19,670, signaling that Dalal Street was headed for muted start on Wednesday.
Tech View: Nifty forms small green candle on daily chart
As Nifty ended 46 points higher, a small green candle was formed on the daily chart, that closed above the high of Doji candle of Monday. Analysts see it as a positive indication which signals that the uptrend will likely continue in the short term.
Rupee falls 33 paise to close at 83.04 against US dollar
The rupee plunged by 33 paise to close at 83.04 (provisional) against the US dollar on Tuesday, tracking a strong American currency and higher crude oil prices.
Wall Street slips as Treasury yields rise, oil prices boost energy sector
Wall Street’s three major averages closed lower on Tuesday with the Dow leading declines as Treasury yields rose along with oil prices and investors assessed prospects for the Federal Reserve’s interest rate path.
Markets Live Updates: Oil prices edge higher on supply woes as Saudi, Russia extend output cuts
Oil prices ticked up as markets worried about a supply shortage after Saudi Arabia and Russia extended their voluntary supply cuts to the end of the year.
Sensex, Nifty on Tuesday
The BSE benchmark Sensex surged 152 points or 0.23% to settle at 65,780, while the NSE Nifty rose 46 points or 0.24% to end at 19,575.