Category: Business & Economy

In Wednesday’s stock market session, mining shares had an interesting day. Here are some of the winners and losers:

Top Gainers:
– Ashapura Minechem Ltd. jumped up by 9.64%!
– Pokarna Ltd. rose by 7.08%.
– Oriental Trimex Ltd. was up 4.78%.
– Coal India Ltd. gained slightly by 0.15%.
– NMDC Ltd. went up by 0.05%.

Top Losers:
– KIOCL Ltd. fell by 2.83%.
– Aro Granite Industries Ltd. dropped 2.74%.
– Sandur Manganese & Iron Ores Ltd. decreased by 2.50%.
– 20 Microns Ltd. fell by 1.87%.
– Madhav Marbles & Granites Ltd. was down 1.66%.

Overall, the NSE Nifty50 index closed at 23,688.95, down by 18.96 points, and the BSE Sensex ended at 78,148.49, down by 50.62 points.

In the Nifty pack, some top gainers were:
– Oil and Natural Gas Corporation Ltd. up by 2.98%.
– Tata Consultancy Services Ltd. increased by 1.99%.
– Reliance Industries Ltd. also went up by 1.99%.

However, some stocks fell too, like:
– Apollo Hospitals Enterprise Ltd., which dropped 3.96%.
– Trent Ltd. down by 2.55%.
– Bajaj Auto Ltd. decreased by 1.91%.

Overall, it was a mixed day for the stock market!

New Delhi – The Nifty Auto index had an interesting day on Wednesday. Shares of Balkrishna Industries increased by 1.3%, Maruti Suzuki went up by 0.86%, Tata Motors rose by 0.22%, and Bosch gained 0.17%. These companies were the top winners today.

On the other hand, some companies faced losses. Apollo Tyres fell 3.06%, Bajaj Auto dropped 1.91%, Bharat Forge decreased by 1.7%, Samvardhana Motherson International went down by 1.24%, and MRF slipped 1.12%. Overall, the Nifty Auto index finished the day up by 0.48%, closing at 23,370.15.

In the wider market, the benchmark NSE Nifty50 index ended down by 18.96 points at 23,688.95, and the BSE Sensex dropped 50.62 points at 78,148.49. Out of the 50 stocks in the Nifty index, 23 saw gains while 27 reported losses.

Some of the most traded shares included Vodafone Idea, YES Bank, Ola Electric Mobility, ITI Ltd, and Zomato. Additionally, shares of Ashapura Minechem, Pokarna Ltd, Ami Organics, Anant Raj, and Mazda Ltd reached their new highs in the last year. Meanwhile, Spacenet Enterprise, Rana Sugars, Baid Leasing, Odigma Consultancy, and Digjam hit their new lows for the year.

Zerodha’s early-stage investment group, Rainmatter, put about Rs 275 crore into 47 startups last year. Most of this money went to companies focused on climate and health. Rainmatter plans to invest another Rs 1,000 crore over the next few years.

While fintech startups received the most funding overall from Rainmatter, in 2024, they chose 15 startups focused on climate and 16 on health, but only 8 in fintech. Zerodha’s founder, Nithin Kamath, said, “We believe climate and health will be important trends in the future. By supporting these startups, we aim to help people live healthier lives and make our planet better.”

Since starting, Rainmatter has backed over 100 startups, investing in 32 fintech companies, 27 that help the environment, and 24 that focus on health. They have spent about Rs 700 crore since 2016. Recently, they invested Rs 10 crore in water recycling company Boson Whitewater and nutrition brand TruNativ.

On Wednesday, the Nifty Pharma index finished positively. Dr. Reddy’s Laboratories was a star performer, going up by 1.43%. But not all companies did well. Lupin saw the biggest drop, falling by 4.48%, while Biocon dropped by 2.92%, Ipca Laboratories by 2.44%, Torrent Pharmaceuticals by 2.34%, and Zydus Lifesciences by 1.94%.

The Nifty Pharma index ended the day down 0.94%, sitting at 23,011.10 points. Meanwhile, the benchmark NSE Nifty50 index dropped 18.96 points, finishing at 23,688.95, and the BSE Sensex decreased by 50.62 points, ending at 78,148.49.

Out of the 50 stocks in the Nifty index, 23 went up, while 27 went down. Among the most traded shares today were Vodafone Idea, YES Bank, Ola Electric Mobility, ITI Ltd, and Zomato.

Some companies reached new highs, including Ashapura Minechem, Pokarna Ltd, Ami Organics, Anant Raj, and Mazda Ltd. In contrast, Spacenet Enterprise, Rana Sugars, Baid Leasing, Odigma Consultancy, and Digjam hit their lowest points in a year.

India has made a big change to how much gold it thinks it will import in November. The country has cut its gold import estimate by a huge $5 billion. This is the largest change for any product ever recorded! The new import amount is $9.84 billion, which is a lot less than the earlier estimate of $14.8 billion. This information comes from data collected by the Directorate General of Commercial Intelligence and Statistics (DGCIS).

Avenue Supermarts Ltd. shares increased by 0.62% to Rs 3804.30 around 1:08 PM (IST) on Wednesday. In comparison, the Nifty index was up by 169.81 points, sitting at 23538.1. Yesterday, the stock closed at Rs 3828.30. The company’s shares hit a low of Rs 3400.00 and a high of Rs 5484.00 in the last 52 weeks. Its market value is Rs 247734.08 crore on the BSE.

So far, 11,120 shares have been traded. Currently, the stock is valued at 92.19 times its earnings per share of Rs 41.30, and 15.76 times its book value. The company’s return on equity (ROE) is Rs 13.59.

For the quarter ending September 30, 2024, Avenue Supermarts Ltd. reported sales of Rs 14,478.02 crore, an increase of 14.35% compared to the same time last year. The company’s net profit grew by 5.78% year-on-year, reaching Rs 659.58 crore.

Also, the stock’s Relative Strength Index (RSI) was noted on Wednesday. The RSI indicator ranges from zero to 100. Generally, if the RSI is over 70, it suggests the stock may be overbought, while under 30 indicates it may be oversold. Analysts recommend using the RSI along with other tools and not rely on it alone for investment decisions.

Shares of LTIMindtree Ltd. rose by 0.64% to Rs 5792.00 at 12:57 PM (IST) on Wednesday, while the BSE Sensex jumped by 590.61 points to reach 77608.5. Yesterday, the stock closed at Rs 5754.90. Over the past year, it reached a high of Rs 6764.80 and a low of Rs 4518.35.

So far today, a total of 12,57,000 shares have been traded, making the total money involved Rs 1.82 crore. At the current price, LTIMindtree’s stock is valued at 36.75 times its earnings per share over the last year, which is Rs 157.12, and 7.30 times its book value. A higher price-to-earnings (P/E) ratio means investors think the company will grow, so they’re willing to pay more for the stock now. Price-to-book value helps investors understand the company’s basic worth even when it’s not growing.

The stock’s volatility, measured by its Beta value, is 0.5937, meaning it’s less volatile than the market overall.

As of September 30, 2024, company ownership is interesting: Promoters own 68.6%, Foreign Institutional Investors (FIIs) hold 7.39%, and Domestic Institutional Investors (DIIs) have 14.73%.

Bharat Forge Ltd. saw its shares drop by 2.21% to Rs 1240.95 on Wednesday. During the day, the stock reached a high of Rs 1279.90 and a low of Rs 1240.85.

Looking at the technical charts, the stock’s 200-day moving average (200-DMA) is at Rs 1457.6, while the 50-day moving average (50-DMA) is at Rs 1344.56. When a stock is above both the 50-DMA and 200-DMA, it usually shows an upward trend. Conversely, if it is below both averages, that indicates a downward trend. If it lies between these averages, it could go either way.

Currently, Bharat Forge’s stock is trading below the signal line of the MACD (Moving Average Convergence Divergence), which means there is a bearish outlook. The MACD helps investors identify changes in trends. It calculates the difference between two average prices over different time frames.

The Relative Strength Index (RSI) for the stock is 32.69. An RSI below 30 suggests that a stock is oversold, while an RSI above 70 indicates it is overbought.

Additionally, Bharat Forge has a Return on Equity (RoE) of 13.28% and a Return on Capital Employed (RoCE) of about 9.37%. The RoCE measures how well a company uses its capital to make a profit, while RoE shows how profitable a business is relative to the money invested by shareholders.

Havells India Ltd.’s shares went up by 0.85% to Rs 1620.95 around noon (12:27 PM IST) on Wednesday. In the previous session, the stock closed at Rs 1634.90. At the same time, the Sensex, a popular market index, dropped by 604.66 points and was at 77594.45.

Over the last year, Havells’ stock has increased by 17.84%. In comparison, the Sensex rose by 10.05% during the same period. The highest price for Havells in the last year was Rs 2104.95, while the lowest was Rs 1280.20.

Currently, 34,479 shares are being traded. The stock has a price-to-earnings ratio of 72.00, an earnings per share (EPS) of 22.50, and a price-to-book value of 12.75.

In the Nifty50 group, only 8 stocks were doing well, while 42 were not. As of September 30, 2024, promoters (owners) hold 59.41% of Havells, with 24.75% owned by foreign investors and 3.94% by mutual funds.

In the latest financial quarter ending September 30, 2024, Havells reported sales of Rs 4632.20 crore, down 21.27% from the previous quarter’s Rs 5883.54 crore, but up 17.19% compared to Rs 3952.81 crore a year ago. They made a profit of Rs 268.23 crore in this quarter.

However, some signs suggest the stock might not go up soon. The MACD (Moving Average Convergence Divergence), a tool traders use to spot trends, is showing a bearish signal. This means that prices could go down in the near future.

On Wednesday, Bandhan Bank’s stock was down by 2.32%, trading at Rs 151.40 at 12:06 PM (IST). This happened while the Sensex, a key market index, fell by 572.7 points to reach 77,626.41. The stock had previously closed at Rs 155.00.

In the last year, Bandhan Bank’s shares reached a high of Rs 252.45 and a low of Rs 150.85. According to data from NiftyStat, 12,06,000 shares were traded by noon, generating a turnover of Rs 7.69 crore.

Currently, Bandhan Bank’s stock trades at 8.73 times its earnings per share over the last 12 months, which is Rs 17.31. This means investors expect the bank to grow in the future. Its price-to-book ratio is 1.34, indicating what investors are willing to pay for the company’s assets, even if there is no expected growth.

The stock has a beta value of 1.2618, which shows it is more volatile compared to the overall market.

As of September 30, 2024, promoters own 39.98% of the company, foreign institutional investors (FIIs) hold 26.73%, and domestic institutional investors (DIIs) have 16.33%.