Mid-day Mood | Nifty, Sensex firmly in red as pharma, bank stocks fall
Wed, Oct 30, 2024 12:23 PM

Mid-day Mood | Nifty, Sensex firmly in red as pharma, bank stocks fall

Benchmark indices Nifty and Sensex continued to trade lower during the mid-day on October 30 as investors took profits off the table following a two-day rally on the bourses. Bank and Pharma stocks among others dampened the sentiment ahead of Diwali. At noon, the Sensex was down 133.56 points or 0.17 percent at 80,235.47, and the Nifty was down 28.00 points or 0.11 percent at 24,438.80.

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L&T's power transmission and distribution vertical bags 'major' orders
Wed, Oct 30, 2024 12:23 PM

L&T's power transmission and distribution vertical bags 'major' orders

Larsen and Toubro on Wednesday, October 30, said its power transmission and distribution vertical bagged 'major' orders in the Middle East and Africa to expand and strengthen electricity grids at high voltage levels. It said it will also implement an energy management system for country-wide electricity network. L&T classifies orders in the ₹5,000 crore to ₹10,000 crore range as 'major'.

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Dabur India shares in focus ahead of Q2 results today
Wed, Oct 30, 2024 12:22 PM

Dabur India shares in focus ahead of Q2 results today

Shares of FMCG major Dabur India will be in focus as the company will announce its second quarter results later today. The company is likely to have a muted second quarter on the back of decline in volumes and distributor inventory correction in general trade (GT) channel. Essentially, the company largely stopped primary sales for the last 7-8 days of the quarter to enable broad-based category.

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Stock market today: 6 stocks in F&O ban list on October 30
Wed, Oct 30, 2024 12:11 PM

Stock market today: 6 stocks in F&O ban list on October 30

📌IDFC First Bank, 📌Indiamart Intermesh, 📌L&T Finance, 📌Manappuram Finance, 📌Punjab National Bank, and 📌RBL Bank are the six stocks on the NSE's F&O ban list on October 30. The NSE said the derivative contracts in these securities crossed 95% of the market-wide position limit and have been placed in the stock exchange's ban period.

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11 stocks to trade ex-dividend tomorrow. Last chance to buy
Wed, Oct 30, 2024 12:08 PM

11 stocks to trade ex-dividend tomorrow. Last chance to buy

Shares of Tech Mahindra, Godrej Consumer Products, Balkrishna Industries and NTPC among various other companies are likely to remain in focus today as they had fixed October 31 as the record date for the purpose of the dividends declared by them. This means today is the last day to buy the shares of these companies in order to be eligible for the dividends announced.

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Analysts turn cautious on SBI Cards; Nomura raises Airtel's target price
Wed, Oct 30, 2024 12:07 PM

Analysts turn cautious on SBI Cards; Nomura raises Airtel's target price

Check out the latest brokerage calls and analyst comments on the stocks in action today. Maruti Suzuki receives a neutral call from Nomura with a target price of ₹12,455/sh, citing concerns over weaker demand and high discounts, while HSBC gives a hold call with a target price of ₹14,000/sh, expecting improvement in demand and new product launches in FY26.

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New change in Google Local Service ad can affect millions of small business
Wed, Oct 30, 2024 12:06 PM

New change in Google Local Service ad can affect millions of small business

Google is changing its Google Local Services ads, requiring businesses to have a verified Google Business Profile to run ads starting November 21, affecting small businesses in Europe, Middle East, Africa, and select US and Canada businesses, in an effort to combat fraud, but potentially harming unaware legitimate businesses.

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Samsung’s sudden $122 billion wipeout shows the cost of sleeping on AI
Wed, Oct 30, 2024 12:04 PM

Samsung’s sudden $122 billion wipeout shows the cost of sleeping on AI

Just a few months ago, Samsung Electronics Co. looked primed to benefit from the global AI boom: profits were surging and its stock was rising toward an all-time high. Now, South Korea’s biggest company has become a stark example of how quickly fortunes can turn in an industry where the spoils go to those who maintain a technological edge.

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HDFC Standard Life buys PNB Housing Finance's shares worth Rs 90 crore
Wed, Oct 30, 2024 12:03 PM

HDFC Standard Life buys PNB Housing Finance's shares worth Rs 90 crore

HDFC Standard Life Insurance Co on Tuesday bought shares of PNB Housing Finance worth Rs 90 crore through an open market transaction. According to the block deal data available on the BSE, HDFC Standard Life Insurance Company Ltd purchased a little over 10 lakh shares or 0.4 per cent stake in PNB Housing Finance. The shares were picked up at an average price of Rs 900 apiece.

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Diwali set to light up real estate sales; inquiries up by 15-20%
Wed, Oct 30, 2024 12:02 PM

Diwali set to light up real estate sales; inquiries up by 15-20%

Real estate companies expect a surge in sales this Diwali, as developers and experts note a 15-20 percent rise in property inquiries and transactions during the ongoing festive season. Experts said attractive interest rates on home loans and the cultural inclination to make significant investments such as buying real estate during Diwali are adding to the sales glitter.

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Meesho posts higher FY24 revenue driven by spike in user base
Wed, Oct 30, 2024 11:34 AM

Meesho posts higher FY24 revenue driven by spike in user base

Bengaluru: E-commerce startup Meesho on Wednesday reported higher revenue and narrower losses in FY24 as it benefited from an increase in annual transacting users and a rise in order frequency from existing customers. In FY24, the company reported operating revenues of ₹7,615 crore, a 33% increase from a year earlier. Its adjusted losses narrowed by 97% to ₹53 crores excluding employee share.

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Paras Defence hits 5% upper circuit on ₹42 crore order win
Wed, Oct 30, 2024 11:32 AM

Paras Defence hits 5% upper circuit on ₹42 crore order win

Shares of Paras Defence and Space Technologies Ltd surged 5% after the company received a ₹42.05 crore order from Opto Electronics Factory to supply electronic control sub-systems for Thermal Imaging Fire Control Systems to the Indian Armed Forces. This contract strengthens the company's foothold in defence electronics and follows a strong Q2FY25 performance.

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Buy Bharat Electronics; target of Rs 323: Geojit Financial Services
Wed, Oct 30, 2024 11:22 AM

Buy Bharat Electronics; target of Rs 323: Geojit Financial Services

Bharat Electronics' Q2FY25 revenue rose 15% YoY, with net profit surging 34.3% YoY, driven by a better product mix and lower costs. The company's strong order backlog of Rs. 74,595cr provides visibility for the next 3-4 years, with a potential additional Rs. 25-30,000cr orders from QRSAM. Geojit Financial Services maintains a BUY rating with a target price of Rs. 323.

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Afcons Infrastructure IPO allotment today
Wed, Oct 30, 2024 11:21 AM

Afcons Infrastructure IPO allotment today

Afcons Infrastructure IPO allotment status is anticipated to be finalized today, October 30. The mainboard issue was open for subscription from October 25 to October 29. The IPO was oversubscribed 2.63 times on the last day of bidding, attracting bids for a total of 22.78 crore shares against the 8.66 crore shares on offer.  The retail portion of the IPO was booked at 94%.

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Swiggy sets price band of Rs 371-390 a share for IPO
Wed, Oct 30, 2024 11:12 AM

Swiggy sets price band of Rs 371-390 a share for IPO

Swiggy Ltd set a price band of Rs 371-390 a share for its initial public offering that will open for subscription on November 6 and close on November 8.The anchor book will open on November 5, basis of allotment and initiation of refunds will be on November 11, credit of equity shares will be on November 12 and the stock will list on exchanges on November 13.

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