Stock Market News

Tanushree Jaiswal || Key Highlights Axis Bank reported a 20.11% increase in its revenue on a YOY basis reaching ₹ 9,855 cr in Q4 FY2024 from ₹16,530 in Q4 FY2023. Net profit marked at ₹7130 cr for Q4 FY2024 against a loss of ₹5728 cr in Q4 FY 2023, an improvement of almost 225%. PAT margin for Q4 FY2024 was 35.91%. Business Highlights Axis Bank’s net interest income for FY2024 was ₹ 49,894 cr, down by 16% on a YOY basis from ₹42,946 cr in Q4 FY2023. Net profit for FY 2024 was ₹24,861 cr against ₹9,580 cr in FY 2023, u

Tanushree Jaiswal || Gold prices dropped more than 2% to a one-week low on Monday as worries over a wider Middle East conflict subsided, prompting investors to scale back safe-haven trades in favor of riskier assets, like equities. Yesterday at 9:43 a.m. ET (13:43 GMT), gold was down 2.3% to $2,336.29 per ounce, signaling its most significant intra-day decline in over a year. Meanwhile, U.S. gold futures declined by 2.7% to $2,349.70. Gold faced a downward pressure as the main indices of Wall Street began on a higher note, concurrently

Tanushree Jaiswal || Today, Gold Rate surged to unprecedented levels in both domestic & international markets, with Comex gold soaring to new lifetime high of $2,412 per troy ounce, & spot gold hitting $2,395 per ounce during early trading. Additionally, silver prices reached new peak on Multi Commodity Exchange (MCX), with MCX gold price hitting record ₹72,718 per 10 grams & MCX Silver Rate touching ₹84,238 per kilogram within minutes of market opening. Experts attribute this surge in Gold & Silver Prices to anticipation of

Tanushree Jaiswal || Gol Rate Today hit the market high again. The question now arises whether the gold price will continue to rise or consolidate after reaching this high value. Predicting this is a complex task. In February, global central bank gold reserves continued their upward trajectory, expanding by 19 tonnes. This marks the ninth consecutive month of growth, although the increase was notably lower compared to January, which saw a total addition of 45 tonnes. Despite the month-to-month fluctuation, the year-to-date figures show a sub

Tanushree Jaiswal || Two officials of the US Federal Reserve stated that they are still estimating a trio of rate cuts in 2024. If the rates are cut, non-yielding precious metals can gain from this significant opportunity. The prognosis for precious metals was improved when two Federal Reserve officials stated they still anticipate the US central bank to lower rates three times in 2024. Gold maintained close to a new record, while silver reached a two-year high. Silver reached above $26 an ounce, but gold reached a new high above $2,288 bef

Tanushree Jaiswal || In the race for board seats and the future of the international entertainment behemoth, Walt Disney (DIS.N) opened a new tab that seemed to be winning out over activist investors. Before the company's annual meeting on Wednesday, 3rd April 2024, more than half of all shares were voted. T. Rowe, which has about 11.7 million Disney shares, or 0.64%, supported the business. He also declared that he had cast votes to re-elect Michael Froman and Maria Elena Lagomasino, the two Disney directors whom Nelson Peltz's Trian Fund

Tanushree Jaiswal || Strong listing for HOAC Foods India IPO (Hariom Atta & Spices) in NSE-SME segment HOAC Foods India IPO (Hariom Atta & Spices) had a strong listing on 24th May 2024, listing at ₹147 per share, a premium of 206.25% over the issue price of ₹48. Here is the pre-open price discovery for the HOAC Foods India IPO (Hariom Atta & Spices) on the NSE. PRE-OPEN ORDER COLLECTION SUMMARY Indicative Equilibrium Price (In ₹) 147.00 Indicative

Tanushree Jaiswal || Strong listing for Rulka Electricals IPO in NSE-SME segment Rulka Electricals IPO had a strong listing on 24th May 2024, listing at ₹525.00 per share, a premium of 123.40% over the issue price of ₹235. Here is the pre-open price discovery for the Rulka Electricals IPO on the NSE. PRE-OPEN ORDER COLLECTION SUMMARY Indicative Equilibrium Price (In ₹) 525.00 Indicative Equilibrium Quantity (Number of Shares) 2,28,600

Tanushree Jaiswal || Strong listing for Quest Laboratories IPO in NSE-SME segment Quest Laboratories IPO had a strong listing on 23rd May 2024, listing at ₹155.10 per share, a premium of 59.90% over the issue price of ₹97. Here is the pre-open price discovery for the Quest Laboratories IPO on the NSE. PRE-OPEN ORDER COLLECTION SUMMARY Indicative Equilibrium Price (In ₹) 155.10 Indicative Equilibrium Quantity (Number of Shares) 10,24,800

Tanushree Jaiswal || Modest listing for Go Digit General Insurance in NSE Go Digit General Insurance had a modest listing on 23rd May 2024, listing at ₹286 per share, a premium of 5.15% over the issue price of Rs272. Here is the pre-open price discovery for the Mainboard IPO of Go Digit General Insurance on the NSE. PRE-OPEN ORDER COLLECTION SUMMARY Indicative Equilibrium Price (In ₹) 286.00 Indicative Equilibrium Quantity (Number of Shares) 1,3

Tanushree Jaiswal || Zee Entertainment Enterprises Ltd (ZEEL) has demanded a $90 million (₹750 crore) termination fee from Culver Max Entertainment Pvt. Ltd. (formerly known as Sony Pictures Networks India) and its subsidiary Bangla Entertainment Pvt. Ltd. (BEPL). This demand stems from their decision to abandon the $10 billion merger deal in January. “This is with respect to the termination of the Merger Cooperation Agreement (MCA) dated 22 December 2021 between Zeel and Culver Max Entertainment Pvt. Ltd and Bangla Entertainment Pvt. Ltd…an

Tanushree Jaiswal || JK Lakshmi Cement's share price surged over 7% in early trading on Friday, May 24th, following the release of its Q4 results. The stock opened at ₹830 on the National Stock Exchange (NSE) and climbed to a high of ₹852.85, representing a gain of more than 7% from Thursday's closing price. Q4FY24 results, aligning with market expectations, propelled the surge in JK Lakshmi Cement shares. JK Lakshmi Cement witnessed a substantial 41% increase in profit during Q4FY24, reaching ₹162.1 crore, up from ₹114.8 crore in Q4FY23. De

Tanushree Jaiswal || IndiGo, the low-cost subsidiary of InterGlobe Aviation, exceeded analysts' estimates in its quarterly earnings report for Q1 2024, resulting in several upward revisions to its target price as analysts maintain their optimistic outlook. IndiGo's shares ended 1.08% higher at ₹4,403.00 on the NSE in the previous session. Year-to-date, the stock has surged nearly 48%, outperforming the Nifty 50 benchmark, which has gained around 5.6% during the same period. Over the past year, IndiGo's stock has witnessed a remarkable increa

Tanushree Jaiswal || The aggregate value of companies traded on the National Stock Exchange (NSE) surpassed $5 trillion (₹416.57 lakh crore) on Thursday, aligning with the Nifty 50 index achieving an unprecedented high of 22,993.60. During early trading on Friday, May 24, Nifty surpassed the 23,000 milestone, reaching a new zenith of 23004.05. According to a press release by the NSE, it took NSE-listed companies just 6 months to jump from $4 trillion to $5 trillion. They hit the $4 trillion- mark in December 2023. The NSE reported a signi

Tanushree Jaiswal || For the week commencing on 22nd April 2023, there are 8 NFO or new fund offerings of mutual funds available for investors. These funds range from a wide spectrum of equity, debt, and multi-asset funds. Here is a quick look at the eight funds available for subscription this week. Baroda BNP Paribas Value Fund This fund comes from the house of Baroda BNP Paribas Mutual Fund. This NFO is a pure equity open ended fund with the objective of generating long-term capital appreciation from a diversified portfolio o

Tanushree Jaiswal || HDFC Mutual fund will launch its new fund offering (NFO) of the proposed HDFC Defence Fund on 19th May 2023. Subscription to the NFO will close on 02nd June 2023 and once the allotment is completed, the fund will be available for NAV related sale and repurchase at NAV related prices. Highlights of the HDFC Defence Fund Here are some of the stand out features of the proposed NFO of HDFC Defence Fund. • The fund will invest in defence and aerospace stocks as well as in allied sectors. It will benchmark to the N

Tanushree Jaiswal || It is a known fact that FPIs have been major sellers in Indian equities since October 2021. In fact, between October 2021 and June 2022, the FPIs had sold equities to the tune of $33 billion. There has been some respite in the second half of 2022 but FPIs are back to their selling ways in 2023. However, the flows from mutual funds were exactly in contrast. For instance, mutual funds have infused Rs1.8 trillion into equities on a net basis in FY22 and an equivalent amount in FY23 too. That is seriously quite a lot and it act

5paisa Research Team || The COVID pandemic was almost like a turning point for the economy and the markets. It is now exactly over 3 years since the Nifty and Sensex made a bottom around the last week of March 2020 and started the post-COVID recovery. A lot has changed in the Indian markets since then. For starters, the equity markets have rallied to new highs and have held there despite bouts of corrections. Foreign portfolio investors started investing with a bang and infused billions of dollars into India in the post COVID scenario. However,

Tanushree Jaiswal || Synopsis Ashok Leyland experienced a robust 20% surge in net profit during the fourth quarter of FY2023-24, reaching ₹900 crore. However, revenue for the same period declined by over 3% to ₹11,266.7 crore compared to ₹11,625 crore in the corresponding quarter of the previous fiscal year. Result Performance Ashok Leyland, the commercial vehicle manufacturer, announced a 16.73% increase in its consolidated net profit for the fourth quarter of the fiscal year 2023-24, reaching ₹933.69 crore. This compares to ₹799.87 c

Tanushree Jaiswal || Synopsis Sun Pharmaceutical Industries Ltd. announced a consolidated net profit of ₹2,654.5 crore for the quarter ending in March, exceeding analysts' expectations and marking a 34% increase from the same period in the previous year. Quarter Result Performance Sun Pharmaceutical Industries, India's largest domestic drug manufacturer, announced a significant 33.8% increase in its consolidated net profit for the quarter ending March 21, 2023 (Q4), reaching ₹2,654.58 crore. In the corresponding period of the previous

Tanushree Jaiswal || Synopsis Paytm on May 22 reported net loss of ₹550 crore in Q4FY24, revenue down by 2.9% YoY to ₹2,267.10 crore. Quarter Result Performance One 97 Communications Ltd, the parent company of Paytm, announced a net loss of ₹550 crore for the fourth quarter of fiscal year 2024 (Q4FY24) on May 22. This represents a 3.2-fold increase compared to the same period last year (Q4FY23). The company's margins were significantly impacted following the Reserve Bank of India's (RBI) ban on its subsidiary, Paytm Payments Bank (PPBL

Tanushree Jaiswal || Ircon International's EBITDA declined significantly by 56.3% to ₹286.3 crore in the last quarter, compared to ₹183.2 crore in the same period last year. Ircon International share price closed the day at ₹289.70 on the BSE, a 5.90% increase (₹16.15) from the previous day's closing price. The company's board has proposed a final dividend of ₹1.30 per equity share (face value of ₹2), representing 65% of the paid-up equity share capital, for the financial year 2023-24. Result Performance In its financial report for the f

Tanushree Jaiswal || The Foreign Exchange Derivatives market in India is undergoing a substantial disruption on April 5, due to the implementation of newly announced regulations by the Reserve Bank of India (RBI). It is anticipated that the implementation of these regulations, which mandate an underlying foreign-exchange exposure for currency derivatives trading on stock exchanges, will significantly affect the market, specifically affecting retail traders and speculators, who make up a substantial proportion of the participants. To comply w

Tanushree Jaiswal || In a rather low-profile move, the RBI has decided to officially withdraw the ₹2,000 notes from the currency circulation. This will be effective from 30th September 2023. Between March 23, 2023 and September 30, 2023, the RBI will offer a special window for the people holding these ₹2,000 currency notes to either exchange their notes or deposit these notes into the bank account. Banks will offer this window only up to September end and after that the ₹2,000 note cannot be either exchanged or even deposited in any of the comm

5paisa Research Team || The Indian rupee is going through its worst crisis yet. On Tuesday, it sunk to its lowest yet, going below the psychologically crucial mark of 80 to the US dollar. The rupee went as low as 80.05 to the dollar, before it was helped back up by some intervention from the country’s central bank. The Reserve Bank of India pumped some US dollars into the currency markets to steady the currency slightly after it went down for the seventh consecutive trading session. Is the Indian rupee the only one that has been falling

Tanushree Jaiswal || Shares of solar related stocks surged by up to 5% today following the announcement by Union Finance Minister Nirmala Sitharaman. During the presentation of the interim budget for the fiscal year 2024-2025, she unveiled the "Pradhanmantri Suryodaya Yojana," proposing assistance for installing rooftop solar systems in 1 crore households. Under the initiative, rooftop solarization aims to provide up to 300 units of free electricity every month to one crore households. Finance Minister Sitharaman emphasized that this move al

Tanushree Jaiswal || In her recent interim Budget presentation, Union Finance Minister Nirmala Sitharaman announced that there would be no alterations to direct and indirect tax rates, including import duties for the fiscal year 2024-25. Sitharaman highlighted the government's commitment to maintaining stability in taxation and shared positive news on reduced refund processing times. The Finance Minister highlights a reduction in the average refund processing time, from 93 days in 2013-2014 to just 10 days in the latest fiscal year. Durin

Tanushree Jaiswal || To boost India's agriculture sector, Finance Minister Nirmala Sitharaman announced the expansion of Nano DAP (Liquid) application across all agro-climatic zones. This has sparked a positive response in the stock market, with notable gains in fertiliser stocks. Nano DAP Composition and Benefits Following the announcement, key players in the fertiliser industry witnessed a surge in their stock prices. Coromandel International shares rose by 1.5%, while Gujarat Narmada Valley Fertilisers & Chemicals (GNFC) recovered

Tanushree Jaiswal || For budget 2024 experts project a record breaking budgetary allocation for Indian Railways, set to surpass ₹3 lakh crore in 2024-25, marking a 25% increase from the previous year. As we look forward to the upcoming Interim Budget, Finance Minister Nirmala Sitharaman is expected to reinforce the momentum of the railway sector's growth. Recap of 2023-24 Past year witnessed milestones for Indian Railways, from the inauguration of multiple Vande Bharat trains and the introduction of the no-frills Amrit Bharat Express to t