Category: Business & Economy

NEW DELHI: On Friday, many stocks saw a lot of trading on the National Stock Exchange. The top ten traded companies were TCS (Rs. 3347.69 crore), Ramkrishna Forg (Rs. 1879.21 crore), ITI Ltd (Rs. 1773.39 crore), Infosys (Rs. 1576.19 crore), HDFC Bank (Rs. 1452.68 crore), Zomato (Rs. 1304.77 crore), PayTM (Rs. 1035.70 crore), RIL (Rs. 1011.76 crore), ICICI Bank (Rs. 982.54 crore), and HCL Tech (Rs. 949.42 crore).

The NSE Nifty index dropped by 95 points to end at 23431.5, while the BSE Sensex fell by 241.3 points to reach 77378.91.

In Nifty, some companies did well and made gains. Tata Consultancy Services (TCS) increased by 5.62%, Tech Mahindra went up by 3.83%, HCL Technologies rose by 3.12%, Wipro climbed by 2.83%, and Infosys gained 2.59%.

However, some companies went down in price. Shriram Finance dropped by 5.34%, IndusInd Bank fell by 4.42%, Adani Enterprises decreased by 4.18%, NTPC lost 3.78%, and Bharat Electronics was down by 3.65%.

On Friday, the mining stocks had a tough day. However, MOIL Ltd. was a star, climbing up by 4.54%. Unfortunately, other mining companies like Madhav Marbles & Granites Ltd. dropped 6.91%, and Lexus Granito (India) Ltd. fell by 4.38%. Other notable losers included Gujarat Mineral Development Corporation Ltd. (down 4.33%) and Ashapura Minechem Ltd. (down 4.29%).

Overall, the NSE Nifty50 index finished 95 points lower, settling at 23,431.5, while the BSE Sensex slid down 241.3 points to close at 77,378.91.

In contrast, some big tech companies had a better Friday. Tata Consultancy Services Ltd. rose by 5.62%, followed by Tech Mahindra Ltd. with a gain of 3.83%. HCL Technologies and Wipro also enjoyed gains of 3.12% and 2.83%, respectively.

On the downside, Shriram Finance Ltd. dropped 5.34%, and several other banking and finance companies, like IndusInd Bank Ltd. and Adani Enterprises Ltd., ended the day in the red.

NEW DELHI: On Friday, shares in the Fast-Moving Consumer Goods (FMCG) sector saw some ups and downs. Marico Ltd. rose by 1.05%, and other companies like Nakoda Group (0.72%), Hindustan Unilever (0.28%), Tata Consumer Products (0.28%), and Britannia Industries (0.27%) also gained value.

However, several companies faced big losses. Adani Wilmar dropped by 10.01%, while Euro India Fresh Foods fell 5.31%. Other losers included Vadilal Industries (down 4.02%), Parag Milk Foods (down 3.89%), Umang Dairies (down 3.86%), and more.

In broader markets, the Nifty50 index decreased by 95 points, ending at 23,431.5, and the BSE Sensex went down by 241.3 points, closing at 77,378.91.

In the tech sector, Tata Consultancy Services had the top gain, rising by 5.62%. Tech Mahindra (up 3.83%), HCL Technologies (up 3.12%), and Wipro (up 2.83%) also performed well.

On the flip side, Shriram Finance saw a drop of 5.34%, followed by IndusInd Bank (down 4.42%) and Adani Enterprises (down 4.18%). Many other major companies also closed with losses.

In New Delhi, some stocks did very well on Friday! Mazda Ltd, Atlas Cycles, IRIS Business Services, Indo Thai Sec, and Power & Instrument all reached their highest prices in a year. But it wasn’t great for everyone—companies like GTPL Hathway, Jai Corp, Dish TV India, Global Surfaces, and Pritish Nandy saw their stock prices hit new lows.

The NSE Nifty, which shows how the top 50 stocks are doing, went down by 95 points, ending at 23,431.5. This happened because many strong, big companies were sold off. Out of these 50 stocks, only 14 went up in price while 36 went down.

Some of the biggest winners in the Nifty 50 were TCS, Tech Mahindra, HCL Tech, Wipro, and Infosys. On the other hand, stocks like Shriram Finance, IndusInd Bank, Adani Enterprises, NTPC, and BEL lost value.

The BSE Sensex, another important stock market measure, closed down by 241.3 points at 77,378.91. On Friday, traders were buying up stocks in sectors like General, Services, Auto, Telecommunications, and Apparels. However, there was selling in sectors like Learning & Education, Cables, Defence, Textiles, and Term Lending Institutions.

In Friday’s trading at 1:38 PM (IST), Ashok Leyland’s share price went up by 2.11%. About 300,728 shares were traded. The stock opened at Rs 214.15 and fluctuated between a high of Rs 214.45 and a low of Rs 207.60 during the day. Over the past year, the highest price it reached was Rs 264.70, while the lowest was Rs 157.65. As of now, Ashok Leyland’s total market value is Rs 61,797.11 crore.

Company Performance:
For the quarter ending September 30, 2024, Ashok Leyland reported sales of Rs 11,261.84 crore. This is up by 4.72% compared to the previous quarter, but down 1.76% when compared to the same quarter last year. The company’s profit was Rs 705.64 crore, which is a 34.15% increase from last year.

Share Ownership:
As of September 30, 2024, 5.34% of the company is owned by local investors. Foreign investors own 24.2%, but the company founders own none of the shares.

Valuation Insights:
According to NiftyStat, Ashok Leyland shares trade with a price-to-earnings ratio of 23.51 and a price-to-book ratio of 5.58. A higher price-to-earnings ratio means that investors trust the company will grow in the future. The price-to-book value shows how much investors are willing to pay even if the company isn’t growing much.

Ashok Leyland Ltd. is in the Auto – Cars/UV/CV industry, making it a key player in the vehicle market!

Shares of Tata Power Company Ltd. fell by 1.93% to Rs 360.00 during trading on Friday around 1:33 PM IST. This comes while the popular Nifty index is at 23507.2, up by 19.3 points. In the previous session, Tata Power’s shares closed at Rs 367.10.

The stock has seen a low of Rs 335.30 and a high of Rs 494.85 in the last year. Currently, Tata Power has a market value of Rs 115,160.04 crore on the BSE. So far, about 329,550 shares have changed hands today.

At this price, its stock is trading at 30.74 times its earnings of Rs 11.72 per share and 3.89 times its book value. The company’s return on equity (ROE) is Rs 11.42.

Recent Financial Performance

For the quarter ending September 30, 2024, Tata Power reported total sales of Rs 16,210.80 crore, which is a 1.13% rise compared to the same period last year. The net profit also increased by 5.83% year-on-year to Rs 926.53 crore for the latest quarter.

Technical Indicators

The Relative Strength Index (RSI) is a tool used to understand whether a stock is overbought or oversold. An RSI above 70 can mean the stock is overbought (too expensive), while an RSI below 30 may indicate it’s oversold (too cheap). Analysts advise using RSI with other tools and not as the only reason to buy or sell a stock.

Shares of Canara Bank fell by 0.99% to Rs 94.80 during trading on Friday at 12:05 PM (IST), while the Nifty index was up by 18.71 points at 23,545.2. The stock closed at Rs 95.75 in the previous session. It has a 52-week low of Rs 88.35 and a high of Rs 129.35. The bank’s total market value is around Rs 85,853.71 crore, according to NiftyStat. So far, 901,692 shares have been traded today.

At this price, Canara Bank’s shares are valued at 5.37 times its earnings per share (EPS) of Rs 17.64 over the past year, and 1.27 times its book value. The return on equity (ROE) is reported to be 18.4, indicating a healthy performance.

For the quarter ending September 30, 2024, Canara Bank announced consolidated sales of Rs 38,006.05 crore, which is a 12.14% increase compared to the same quarter last year.

NEW DELHI: The stock price of United Spirits Ltd. rose by 1.77% during trading on Friday, reaching Rs 1570.35. By 11:55 AM (IST), about 3,293 shares had been bought and sold. The stock hit a high of Rs 1579.95 and a low of Rs 1541.55 during the day.

United Spirits’ shares have experienced a 52-week high of Rs 1700.00 and a low of Rs 1055.65. The company’s total market value at this time is Rs 112,448.44 crore.

Key Financial Highlights:
For the quarter ending September 30, 2024, the company reported net sales of Rs 2,898 crore, which is a 3.65% increase from the previous quarter and a slight 0.33% decrease from the same quarter last year. The net profit for this latest quarter was Rs 341 crore, which is up 0.5% compared to last year.

Shareholding Information:
As of September 30, 2024, domestic institutional investors owned 11.4% of the company, foreign institutional investors held 16.11%, and promoters had 0.79%.

Valuation Details:
According to NiftyStat data, the stock is valued at a P/E ratio of 79.35 and a price-to-book ratio of 11.55. A high P/E ratio indicates that investors expect good growth in the future. The price-to-book value shows how much investors are willing to pay, even if the company isn’t growing.

United Spirits Ltd. is part of the Beverages and Distilleries sector.

On Friday, at about 10:57 AM (IST), Bharat Forge Ltd.’s shares were trading at Rs 1212.90 on the Bombay Stock Exchange (BSE). This was a 1.16% drop from the last closing price. The stock has seen a low price of Rs 1063.40 and a high price of Rs 1826.20 in the past year. It opened lower in the morning. So far, 8,457 lakh shares have been traded today.

Bharat Forge Ltd. has a total market value of Rs 58,039.96 crores. The price-to-earnings (P/E) ratio is 61.30, and the price-to-book ratio is 7.33. The company’s return on equity (ROE) stands at 13.28%, according to information from the exchange.

In the BSE500 group, 19 stocks were doing well today, while 480 stocks were falling. As of September 30, 2024, the company’s promoters hold 45.25% of its shares, with foreign and local institutional investors owning 18.72% and 26.28%, respectively.

NEW DELHI: On Friday, shares of Au Small Finance Bank Ltd. were up by 0.66% at 10:30 AM (IST). About 20,345 shares changed hands. The stock opened at Rs 574.20 and reached a high of Rs 577.00 and a low of Rs 563.80 during the day. Au Small Finance Bank’s shares have a 52-week high of Rs 792.35 and a 52-week low of Rs 534.00. The total market value of the bank is Rs 42,887.23 crore right now.

Key Financials: The bank reported earnings for the three months ending September 30, 2024. Their total sales were Rs 4,548.58 crore, which is an increase of 5.42% from the previous quarter’s Rs 4,314.70 crore and a jump of 53.85% from Rs 2,956.52 crore in the same quarter last year.