Amber Enterprises Ltd.'s share price dropped over 10% on Tuesday, ahead of the release of September quarter results.
The company is expected to post a revenue of Rs 1,205 crore, a year-on-year growth of 30%, according to analysts' consensus estimates compiled by Bloomberg. Net profit is projected to be flat at Rs 4 crore.
Amber Enterprises Ltd. declined 10.72% down at Rs 5,664.15 apiece.
Amber Enterprises Share Price Tumbles Over 10% Ahead Of Q2 Results
Stock Market Live: Paytm To Provide Loss Guarantee To SMFG India Credit
One 97 Communications Ltd. will provide Rs 225 crore loss guarantee to SMFG India Credit Co. Ltd. over time. The company will provide default loss guarantee on Loans disbursed by lending partner to merchants, it said in an exchange filing.
Stock Market Live Updates: Paytm Q2 Earnings Key Highlights (Consolidated, QoQ)
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Revenue rose 10.5% to Rs 1,660 crore compared to Rs 1,502 crore
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Net profit of Rs 930 crore vs Net loss of Rs 840 crore
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Ebitda loss of Rs 403 crore vs Ebitda loss of Rs 792 crore
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Exceptional item of Rs 2,048 crore for sale of its events business
Note: The profit number is not comparable due to a one time gain
One97 Communication declined 1.37% down at Rs 716.00 apiece.
Mazagon Dock Shipbuilders Ltd. share price declined over 7% on Monday as initial reaction to setting a record date for dividend payment for financial year 2024–2025 faded.
SEBI Working To Expand Bond Market
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SEBI is working on expanding the bond market, simplifying bond issuances, and increasing transparency.
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Retail bond market participation has increased, with Rs.8.6 lakh crores raised in FY 2024.
Source: Ashwani Bhatia, WTM at SEBI, speaking at the Morningstar Investor's event
Stock Market Live: Hyundai Motor India Lists At 1.5% Discount Over IPO Price
Hyundai Motor India Ltd.'s shares listed at Rs 1,934 on the NSE on Tuesday, a discount of 1.3% over the issue price of Rs 1,960 apiece. It debuted on the BSE at a discount of 1.5% at Rs 1,931.
Asia FX Update: Currencies Fall As Dollar Index Hovers Around Two–Month High
Asian currencies declined against the US unit as the dollar index continued to trade near the highest level since Aug 2. The dollar index, which measures the greenback's strength against major currencies, rose above the 104.00 mark for the first time as the US Federal Reserve officials' remark suggested slower pace of monetary easing.
The Philippine peso declined the most against the US dollar. It was trading 0.46% down at 57.83 a dollar as of 09:48 a.m.
The Indonesian rupiah and Malaysian Ringgit were followed the Philippine pesos's declined. The currencies were trading 0.37% and 0.36% down respectively against the US dollar as of 09:55 a.m.
Bajaj Housing Finance Ltd. share price rose over 4% in early trade on Tuesday after its posted 26% year-on-year jump in its net profit for the quarter ended September.
Bajaj Housing Finance Ltd. share price rose 1.01% higher at Rs 137.96 apiece.
Orient Cement Ltd. share price jumped over 7% to record high of Rs. 379.00 apiece. The share price jumped after Ambuja Cement announced to buy 46.8% stake in Orient Cement at an equity value of Rs. 8,100 crore.
Orient Cement share price was trading 0.38% higher at Rs 353.80 apiece.
Orient Cement Share Price Hits Life High After Ambuja Cements Announces Acquisition
Nifty, Sensex Opens Flat; HDFC Bank, HCLTech Drag: Opening Bell
The NSE Nifty 50 and BSE Sensex started Tuesday's session on a muted note. HDFC Bank Ltd. and HCLTech Ltd. share prices dragged the benchmarks. As of 09:18 a.m., the Nifty 50 was trading 39.70 points or 0.16% higher at 24,820.80, and the Sensex was trading 174.80 points or 0.22% higher at 81,326.07.
The Nifty 50 has failed to cross 25,000 levels on the higher side and reversed its previous day gains holding its previous day low which will be key to hold in the coming few days. The support of 24,500 is very critical being the 100-day average and if we breach on the downside then we could expect another sell off to test the lower support of 23,900 levels. The relative strength index has witnessed some recovery from the lower range and crossover of the averages could witness a strong up move from current levels. The highest call open interest has moved lower to 25,000 strikes while the downside the highest put OI is at 24,500 for the weekly expiry, said Vikas Jain, head, research at Reliance Securities.
The Sensex was trading flat at 81,154.24.
The Nifty 50 was trading 0.05% down at 24,768.00.
The Nifty Bank was trading 0.14% down at 51,890.45.
Infosys Ltd. Bharti Airtel Ltd., ICICI Bank Ltd., Reliance Industries Ltd., and UltraTech Cement Ltd. share prices added to the benchmark index.
HDFC Bank Ltd., Kotak Mahindra Bank Ltd., State Bank of India, Sun Pharmaceutical Industries Ltd., and Bajaj Auto Ltd. share prices weighed on the index.
Top contribution to the Nifty 50 index.
On NSE, seven sectors declined, two remained flat, and three advanced out of 12. The NSE Nifty Realty declined the most, while the NSE Nifty IT rose the most.
Most sectoral indices open lower on Tuesday
Broader markets underperformed benchmark indices. The BSE Midcap and Smallcap indices were trading 0.27% and 0.96% down, respectively.
On BSE, 16 sectors declined, four advanced out of 20. The BSE Realty declined the most, and the BSE TECK rose the most.
Market breadth was skewed in favour of sellers. Around 1,875 stocks declined, 923 stocks advanced, 120 stocks remained unchanged on BSE.
Adani's Ambuja Cement Acquires 46.8% Orient Cement For Rs 8,100
Ambuja Cements Ltd. announced the acquisition of a 46.8% stake in Orient Cement Ltd. at an equity value of Rs. 8,100 crore.
Disclaimer: NDTV is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
Adani’s Ambuja Acquires Orient Cement For Rs 8,100 Crore To Expand Pan-India Share
Stock Market Live: Nifty, Sensex Flat At Pre–Open
At pre–open, the NSE Nifty 50 was trading 0.07% higher at 24,798.65, and the BSE Sensex was trading flat at 81,155.08.
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Yield On The 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.84%. It closed at 6.83% on Monday, according to data on Bloomberg.
Rupee Flat Against US Dollar
Rupee opened flat at 84.06 against the US dollar. It closed at 84.07 on Monday, according to data on Bloomberg.
Stock Market Live Updates: UBS Global Research On MCX
UBS Global Research maintains a 'Buy' and raised the target price Rs 8,000 from Rs. 5,000. The current price implied a 22% upside from Monday's closing price.
Exponential growth and new product launches like monthly gold options are catalysts
In the last 12months, earnings estimates have risen by 60% & 75% for FY25 and FY26
Q2 performance strong, Q3 looking better
Volumes and premium increase driving better revenue
Electricity derivatives and other products still under development
Value at 40x FY27E EPS
Risks: regulatory measures, product approval delays, malfunction to platform
Stock Market Live: Wipro Partners With Ericsson
Wipro Ltd. partnered with Ericsson billing platform to transform Odido's billing experience for customers, it said in an exchange filing.
Jefferies Keeps Buy On UltraTech Cement
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Jefferies maintains 'Buy' on UltraTech Cement Ltd. which cut target to Rs 12,500, which implied a 15% upside
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The September quarter Ebitda weakness reflects impact of price weakness
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Jefferies believe multi-year Ebitda/tonne low has likely bottomed out
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– Believe H2 volumes & profitability will be better
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The company is better places vs peers with cost saving efforts
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Sharply cut Ebitda estimate by 7-14%
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Jefferies expects Ebitda per tonne of Rs 1000/1120-1220 for FY25/FY26-27
Bajaj Housing Finance Ltd. share price is expected to react in Tuesday's session as the company reported a 21% growth in its net profit from July–September. The net profit rose on the year to Rs 546 crore during the second quarter. To know about Bajaj Housing Finance Ltd.'s Q2 earnings click here.
Stock Market Live Updates Today: Nomura on Hyundai India
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Initiates coverage with Buy at target price Rs 2,472, which implied an upside of 19.6%
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Ongoing premiumization should drive high quality growth
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Long runaway for India car industry with current penetration at 36/1000
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Estimate India's PV Industry to sustain healthy volume CAGR 6-8% over 5-10 years
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Customers becoming more aspirational and willing to pay more for features
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Hence believe ASPs should continue to rise by 3-5%
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Poised for long term growth with SUV mix at 67%, improving ASP & market share
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Believe Co is best positioned in PV OEM Coverage to handle tech transitions
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Hyundai been consistently been able to predict consumer shift like towards SUVs
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Having Indian management on board is a key advantage
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Estimate Co to deliver 8% volume growth CAGR over FY25-27 driven by 7-8 models
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EBITDA Margins expected to improve to 14% by FY27 vs 13.1% in FY24
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Overall estimate Hyundai to deliver 17% earnings CAGR over FY25-27
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Estimate stock at 25x FY27 P/E
Stock Market Live: Gold Prices Stop It Record Run As US Treasury Yield, Dollar Index Rise
Gold prices stopped its record rally on Tuesday as a rise in US Treasury yields and dollar index reduced its charm to the investors. The prices were hitting record high since Thursday.
Gold December future was trading 0.14% higher at $2,742.80 an ounce as of 07:31 a.m.
Stock Market Live: US Treasury Yield Surges On Monetary Easing Concern
The benchmark 10–year US Treasury note surged 2.74% to 4.20%, touching the highest level since July 26, according to data on Bloomberg. The safe–haven rose as the Federal Reserve Bank of Kansas City President Jeffrey Schmid said that he favoured the slower pace of rate cuts.
Further, Minneapolis Fed President Neel Kashkari said the long–term trajectory of rates could be higher.
The yield on the 10–year US Treasury note was trading 0.06% higher at 4.19 as of 7:16 a.m. IST
Asia–Pacific share indices declined on Tuesday, taking cues from overnight development on Wall Street. The Federal Reserve officials in different events on Monday noted that the US economy remained resilient and path forward to monetary easing likely to be gradual.
The Nikkei 225 was trading 1.85% down at 38,246.52, and the S&P ASX 200 was 1.35% down at 8,234.60 as of 07:06 a.m.
Asian Stocks Mirror Wall Street Decline Amid Yield Spike
US Stocks Closed Mixed Post Fed Officials Remarks
US stock indices ended on a mixed note on Monday after the Federal Reserve officials' comment suggested that the monetary easing is likely to be gradual going forward.
The S&P 500 and Dow Jones Industrial Average ended 0.18% and 0.80% down, respectively. The Nasdaq Composite ended 0.27% higher.
The GIFT Nifty was trading near 24,800. Bajaj Housing Finance Ltd., Cyient DLM Ltd. share prices are likely to move as they released their quarterly results on Monday. Moreover. Eicher Motors Ltd. Shriram Finance Ltd. share prices will also be monitored by investors for the recent development. Hyundai Motor India Ltd. will be in traders' focus as the shares list on exchanges today.
The GIFT Nifty was trading 10.50 points, or 0.04%, higher at 24,790.50 as of 06:31 a.m.
The NSE Nifty and BSE Sensex ended lower on Monday, tracking a fall in Kotak Mahindra Bank Ltd. and Infosys Ltd. share prices. Nifty ended 0.29% or 72.95 points down at 24,781.10 and Sensex lost 0.09% or 73.48 points to close at 81,151.27.
Domestic market started the week on a subdued note with weak results from index heavyweights like Kotak Mahindra Bank Ltd., Tata Consumer Products Ltd. and UltraTech Cement Ltd. dragging the indices lower. On the positive side, HDFC Bank Ltd. reported steady numbers which limited the downside. Overall Motilal Financial Services Ltd. expects the market to remain under pressure led by persistent FII selling and muted domestic earnings, said Siddhartha Khemka, head-research, wealth management.
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