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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Reduce Balkrishna Industries; target of Rs 2768: KR Choksey
Wed, Oct 30, 2024 11:09 AM

Reduce Balkrishna Industries; target of Rs 2768: KR Choksey

Balkrishna Industries' Q2FY25 earnings outperformed estimates with revenue of INR 24,197 Mn, EBITDA of INR 5,798 Mn, and PAT of INR 3,469 Mn, driven by higher gross margins and favorable operating leverage. Despite lowering FY25 EPS estimates, the company's FY26E projections remain intact, with a maintained price target of INR 2,768/share and a "REDUCE" rating.

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Apple Wants To See If It Can Build iPhone 17 From Scratch In India: Repo...
Wed, Oct 30, 2024 11:07 AM

Apple Wants To See If It Can Build iPhone 17 From Scratch In India: Repo...

Apple has initiated manufacturing of the iPhone 17 in India, a first for the company, moving away from its traditional reliance on China. The base iPhone 17 model is being developed at Foxconn's facility in Bengaluru, with Apple aiming to reduce operational costs by developing iPhones closer to final assembly sites.

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Q2 Results 2024 Live: 77 companies set to unveil earnings today
Wed, Oct 30, 2024 11:06 AM

Q2 Results 2024 Live: 77 companies set to unveil earnings today

Q2 Results 2024 Live: The second quarter earnings season is in full swing, with 77 companies set to announce their quarterly results for the July-September 2024 period today. Key results to watch include L&;T, Tata Power, and Dabur. In addition to these, several other companies will also reveal their quarterly performance, including AIA Engineering, Biocon, Centrum Capital, D-Link, etc.

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Will domestic investors continue to cushion market declines?
Wed, Oct 30, 2024 11:04 AM

Will domestic investors continue to cushion market declines?

📌Foreign funds have sold over Rs 1 lakh crore in October. 📌Domestic funds have picked up almost equal value of shares. 📌FII selling in derivative markets behind the fall. 📌Steady SIP flows give mutual funds dry powder to capitalise on opportunities during a market fall. 📌Indian markets have managed to withstand significant selling pressure from foreign investors in April.

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RITES stock jumps 3% on MoU with SAIL-Bokaro Steel Plant
Wed, Oct 30, 2024 11:01 AM

RITES stock jumps 3% on MoU with SAIL-Bokaro Steel Plant

RITES shares surged over 3% after signing a Memorandum of Understanding with SAIL-Bokaro Steel Plant for project management consultancy services and securing a Rs 59.13 crore contract from UP State Bridge Corporation Limited for infrastructure project supervision. RITES shares are up 21% this year and 31% in the past 12 months.

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Dollar Steady, Aussie Weakens on Inflation Data
Wed, Oct 30, 2024 10:41 AM

Dollar Steady, Aussie Weakens on Inflation Data

The dollar hovered near a 3-month high on Wednesday in a critical week for economic data that may indicate the direction of U.S. monetary policy. However, the Australian dollar edged closer to a 3-month low. It’s because the inflation trends suggested that an interest rate cut by the Reserve Bank of Australia is unlikely this year. Mixed U.S. data overnight, indicating a softening job market.

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Gold and silver prices today on 30-10-2024: Check latest rates in your city
Wed, Oct 30, 2024 10:40 AM

Gold and silver prices today on 30-10-2024: Check latest rates in your city

Gold and Silver Prices Today: Gold prices experienced a slight increase on Wednesday. The cost of 24 carat gold is Rs.8063.3 per gm, reflecting an increase of Rs.670.0. The cost of 22 carat gold is Rs.7393.3 per gm, which is up by Rs.620.0.The price change in 24 carat gold over the past week has been -0.25%, while in the last month it has seen a decline of -3.79%.

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Accumulate Adani Wilmar; target of Rs 373: KR Choksey
Wed, Oct 30, 2024 10:39 AM

Accumulate Adani Wilmar; target of Rs 373: KR Choksey

Adani Wilmar's Q2FY25 revenue increased 17.9% YoY to INR 144,605 Mn, driven by strong growth in the Food & FMCG segment. EBITDA and adj. net profit also rose 294.1% and 302.8% YoY, respectively, but missed estimates due to high operating expenses. The target price is lowered to INR 373 per share, maintaining an 'ACCUMULATE' rating.

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