Valuations, weak demand slow auto bull run
Tue, Oct 29, 2024 8:43 AM

Valuations, weak demand slow auto bull run

The multi-year bull run in automobile shares is losing its steam as investor appetite for the sector is waning amid concerns over elevated stock valuations and sluggish vehicle demand. The Nifty Auto index has declined over 11% in the past month as against the 5.7% decline in the benchmark Nifty. Analysts said the Auto index could drop at least 10-15% from the current levels.

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Vaishali Parekh recommends stocks to buy today — October 29, 2024
Tue, Oct 29, 2024 8:42 AM

Vaishali Parekh recommends stocks to buy today — October 29, 2024

Vaishali Parekh said that the Nifty 50 Spot for today has support at 24,200 points, while the resistance lies at 24,500 points. 💰Castrol India Ltd. (CASTROLIND): Buy at ₹210; Target at ₹222; Stop Loss at ₹202. 💰Central Depository Services (India) Ltd. (CDSL): Buy at ₹1,486; Target at ₹1,580; Stop Loss at ₹1,420. 💰CSB Bank Ltd (CSBBANK): Buy at ₹312; Target at ₹330; Stop Loss at ₹300.

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Wall Street closes higher ahead of megacap earnings, election
Tue, Oct 29, 2024 8:36 AM

Wall Street closes higher ahead of megacap earnings, election

Wall Street closed higher on Monday ahead of a packed week of earnings from megacap companies and the final stretch before the Nov. 5 presidential election, while sentiment improved after energy supplies were not disrupted by weekend developments in the Middle East. The S&P 500 gained 15.4 points, or 0.27%, to 5,823.52, while the Nasdaq Composite gained 48.58 points, or 0.26%, to 18,567.19.

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Gold holds steady as investors focus on US economic data
Tue, Oct 29, 2024 8:35 AM

Gold holds steady as investors focus on US economic data

Gold prices held steady on Tuesday as investors looked forward to a slew of U.S. economic data for clues about the Federal Reserve's interest rate outlook. Spot gold edged up 0.1% to $2,744.51 per ounce by 0014 GMT. Prices hit a record high of $2,758.37 on Wednesday. U.S. gold futures were steady at $2,756.70. Spot silver was little changed at $33.70 per ounce.

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Oil prices edge up, US plan to refill reserve offers support
Tue, Oct 29, 2024 8:33 AM

Oil prices edge up, US plan to refill reserve offers support

Oil prices edged up on Tuesday, after a sharp plunge in the previous session, as a U.S. plan to purchase oil for the Strategic Petroleum Reserve provided support while investors remained focused on developments in the Middle East. Brent crude futures climbed 44 cents, or 0.6%, to $71.86 a barrel by 0025 GMT, while U.S. West Texas Intermediate crude was at $67.83 a barrel, up 45 cents, or 0.7%.

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AA Plus Tradelink Ltd Hit Upper Circuit As Board Announces 10:1 Stock Split
Mon, Oct 28, 2024 7:38 PM

AA Plus Tradelink Ltd Hit Upper Circuit As Board Announces 10:1 Stock Split

AA Plus Tradelink Limited has announced that its Board of Directors convened and held a meeting, during which they approved a 1:10 stock split, subject to shareholder approval. This stock split will divide each equity share with a face value of ₹10 into 10 equity shares with a face value of ₹1 each, aiming to increase liquidity and accessibility for retail investors.

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US spirits market remains under pressure – NABCA data
Mon, Oct 28, 2024 7:37 PM

US spirits market remains under pressure – NABCA data

The US spirits market remained a tough trading environment in September, with sales by volume and value declining across most categories, new data shows. In September, total sales volumes were down 1.8% year on year to 4.84 million nine-litre cases, while sales value dropped 3.5% to $1bn, figures from the National Alcohol Beverage Control Association (NABCA) show.

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Sky Gold Ltd Stock Surges Over 2,000 Per cent in Just 2 Years!
Mon, Oct 28, 2024 7:36 PM

Sky Gold Ltd Stock Surges Over 2,000 Per cent in Just 2 Years!

At the start of the day's trading session, the Sky Gold Ltd. stock opened at Rs 3478.30 per share, compared to the previous day's closing figure of Rs 3434.35 per share on the BSE. Finally, the shares closed at Rs 3478.30 per share. The company's current market capitalization stands at Rs 5097.10 crore, and the stock has generated an impressive multibagger return of over 400% in the past 1 year.

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US stocks open higher ahead of megacap earnings
Mon, Oct 28, 2024 7:34 PM

US stocks open higher ahead of megacap earnings

Wall Street rose at the open on Monday, recovering some losses following a turbulent trading week, ahead of key corporate earnings and the final phase before the Nov. 5 presidential election. The Dow Jones Industrial Average rose 150.1 points, or 0.36%, at the open to 42,264.54. The S&P 500 rose 25.8 points, or 0.44%, at the open to 5,833.93, while the Nasdaq Composite rose 129.6 points.

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Momentum Picks: Best Swing Trading Stocks to Keep an Eye On!
Mon, Oct 28, 2024 7:33 PM

Momentum Picks: Best Swing Trading Stocks to Keep an Eye On!

📌Indian Bank is a swing trading stock, showing a significant price move as it trades at Rs 551.95, up 10.72 per cent from its previous close of Rs 498.5. 📌ICICI Bank Ltd, trading at Rs 1294.4, saw a 3.10 per cent increase from its previous close of Rs 1255.45 and hit a high of Rs 1307.8. With a substantial trading volume of around 2.41 crore shares.

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Capacit'e Infraprojects Ltd bags new orders from Signatureglobal (India)
Mon, Oct 28, 2024 7:24 PM

Capacit'e Infraprojects Ltd bags new orders from Signatureglobal (India)

Capacit'e Infraprojects Limited has received work orders worth Rs 1,203 crore (Excl GST) from Signatureglobal (India) Limited, a new client, for the construction of the civil structure and Part MEP work for all towers & basements and all other ancillary buildings” in their Group Housing Project namely, “Titanium SPR (Phase-1 and 2)” at Sector 71, Gurugram, Haryana.

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After a slow Q2, two-wheeler sale on recovery path driven by festive demand
Mon, Oct 28, 2024 7:22 PM

After a slow Q2, two-wheeler sale on recovery path driven by festive demand

The ongoing festive season, which started on the first day of Navratri (October 3 this year) and will conclude for 15 days after Dhanteras (November 1), has brought some buoyancy to the two-wheeler retail market. As per data from Vahan, the national vehicle registry services provider, two-wheelers registrations (excluding electric ones) rose 10.5 percent in the 28 days of October so far.

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Pfizer India Q2 Results | Net profit rises 6% to ₹158 crore
Mon, Oct 28, 2024 7:20 PM

Pfizer India Q2 Results | Net profit rises 6% to ₹158 crore

Pfizer Ltd on Monday (October 28) reported a 6.3% year-on-year (YoY) increase in net profit at ₹158.4 crore for the second quarter that ended September 30, 2024. In the corresponding quarter of the previous fiscal, Pfizer posted a net profit of ₹149 crore, the company said in a regulatory filing. The drug firm’s revenue from operations grow 2.3% to ₹588.6 crore against ₹575.2 crore in the year.

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Tamilnad Mercantile Bank Q2: Record net profit soars to ₹303 cr
Mon, Oct 28, 2024 7:19 PM

Tamilnad Mercantile Bank Q2: Record net profit soars to ₹303 cr

Tamilnad Mercantile Bank Ltd (TMB) reported a strong Q2 FY2025, with net profit rising by 10.6% to ₹303 crore compared to ₹274 crore in the same period last year. Operating profit saw a robust increase of 27.4%, reaching ₹465 crore from ₹365 crore in Q2 FY2024. The bank’s net interest income (NII) also improved, climbing 11.9% to ₹596 crore, reflecting efficient interest management.

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Expect price hikes to hold as China stimulus, infra focus takes effect
Mon, Oct 28, 2024 7:15 PM

Expect price hikes to hold as China stimulus, infra focus takes effect

Metals giant JSW Steel Ltd's Joint Managing Director and Chief Executive Officer Jayant Acharya said in an interaction with Moneycontrol that the recent upward movement in steel prices is expected to hold, as China introduces measures to improve consumption at home, and in India, infrastructure projects are expected to ramp up after a slow April-September marred by election.

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