Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian benchmark indices ended near the day’s high in a highly volatile session with Nifty settling shy of 17,700. The BSE Sensex index closed 130.18 points or 0.22% up at 59,462.78, and the NSE Nifty 50 shut shop 39.20 points or 0.22% higher at 17,698.20. Oil & Gas indices rose 2.5% and Metal and Power added 1.5% each. On the other hand, Pharma index shed 1% and Information Technology (IT) index declined 0.76%. In the broader market, BSE midcap and smallcap indices ended marginally higher. ONGC, Tata Steel, NTPC, UPL and Power Grid Corp were among the major Nifty gainers, while Divis Lab, Apollo Hospitals, Infosys, Maruti Suzuki and Tata Consumer Products were the laggards.
The Ministry of Statistics and Programme Implementation will release the retail inflation figure for July at 5.30 pm today. Headline retail inflation is likely to have cooled in July, led by lower food prices, with prices of certain key items posting a sequential fall, according to economists. In June, the inflation rate measured by the Consumer Price Index (CPI) decelerated to 7.01% from 7.04% in the month of May. Last week, the RBI lowered its inflation forecast for July-September to 7.1% from 7.4% earlier.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates 12 August
The BSE Sensex index closed 130.18 points or 0.22% up at 59,462.78, and the NSE Nifty 50 shut shop 39.20 points or 0.22% higher at 17,698.20. Oil & Gas indices rose 2.5% and Metal and Power added 1.5% each. On the other hand, Pharma index shed 1% and Information Technology (IT) index declined 0.76%.
“Equity markets continued to rally with resilient performance during the week. Key bench mark indices like BSE-30 and Nifty-50 has given positive returns this week. Market rally has been broad based with gains seen in BSE Midcap, BSE Smallcap and majority of sectoral indices. Sectoral index performance was led by BSE Metals and BSE Capital Goods indices, whereas some defensive sectors underperformed the broader market. Global equity markets continued their strong rally, as the US CPI moderated in July. In India, FPIs flows were positive this week. With Q1FY23 result season coming towards close, market focus will shift towards macro factors that includes inflation, Central Bank rate action, oil prices and recession concerns in key economies globally .”
~ Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities
GMDC declares a 9 fold on-year jump in its consolidated profit at Rs 345 crore while its consolidated revenues for the quarter jumped 132 per cent on year to Rs 1,155 crore, aided by both income from operations as well as finance income. On a sequential basis, the profit was higher by 95 per cent and revenue increased by 9 per cent.
Lupin has received approval from the United States Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA), Meclizine Hydrochloride Tablets USP, 12.5 mg, 25 mg, and 50 mg, to market a generic equivalent of Antivert Tablets, 12.5 mg, 25 mg, and 50 mg, of Casper Pharma LLC. The product will be manufactured at Lupin’s facility in Goa, India. Lupin was quoting at Rs 683.70, down Rs 6.20, or 0.90 percent.
Apollo Hospitals declines 3% after 35% yearly drop in net profit in Q1
Indian share markets are likely to witness correction in coming weeks amid high volatility and global recession concerns. Benchmark index Nifty 50 will be at 15,600 points by December 31, 2022, said BoFA Securities in a report. “We remain cautious on markets on the current volatile environment and looming global recession concerns as reflected by consensus downgrading NIFTY FY23/24 earnings (YTD -2.5%/-2.2%),” it said. While the American brokerage firm sees risks of further earnings cuts, it noted that some of the other feared risks highlighted earlier, such as crude sustaining at higher levels, depreciating rupee, and rising inflation are now showing some initial signs of moderation.
Balaji Amines subsidiary Balaji Speciality Chemicals has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The public issue consists of a fresh issue of equity shares worth up to Rs 250 crore and an offer-for-sale (OFS) up to 2.6 crore equity shares by the Promoter and selling shareholders, according to the draft papers. The Solapur-based speciality chemicals company will use the funds raised via fresh issue to repay 68 crore of its certain outstanding borrowings and use Rs 119.5 crore to fund its working capital requirements besides general corporate purposes.
Balaji Amines has posted 36 per cent rise in its net profit on-year at Rs 122.9 crore versus Rs 90.4 crore and revenue was up 48.7% on-year at Rs 670.2 crore against Rs 450.7 crore. Balaji Amines was quoting at Rs 3,735.15, up Rs 40.45, or 1.09 per cent on the BSE
Shares of Page Industries hit a 52-week high in morning trade after the apparel manufacturer reported a multi-fold jump in the first quarter net profit.
The Motorcycle sales were up 4 percent at 8.7 lakh units versus 8.37 lakh units, YoY.
Two-wheeler sales were up 9.5 percent at 13.8 lakh units versus 12.6 lakh units.
Utility vehicle sales were up 10.5 percent at 1.37 lakh units versus 1.24 lakh units, YoY.
Passenger Car sales were up 10.3 percent at 1.43 lakh units versus 1.30 lakh units
Passenger Vehicle sales were up 11 percent at 2.94 lakh units versus 2.64 lakh units, YoY.
Benchmark indices are trading marginally higher with Sensex up 39.6 points or 0.07% at 59372.22, and the Nifty was up 17.25 points or 0.1% at 17677.95.
Aurobindo Pharma reported a 32.4% year-on-year growth in consolidated profit at Rs 520.4 crore for the quarter ended June FY23, impacted by lower other income and operating income. Revenue grew by 9.4% to Rs 6,236 crore compared to year-ago period, with US formulations business increasing 10.8%, but Europe formulation business fell 2.2% mainly due to euro currency depreciation.
"SYRMA SGS TECHNOLOGY LIMITED is one of India's leading and fastest growing Electronics system design and manufacturing (ESDM) companies. With a huge focus on R&D-based innovation and an experienced management team, the company has managed to enter into various growing segments like PCBA, Radio Frequency Identification (RFID), Electromagnetic and electromechanical parts, and other information technology-related products, including motherboards, DRAM modules, SSD and USB drives."
"The company’s business model starts from product concept design and focuses on every segment of the overall industry value chain; this gives them a competitive advantage over traditional OEM or ODM-based companies that focus on a single process or certain stages of production, thus creating lasting relationships with its marquee clients. Further, the geographically diversified manufacturing locations enable them to efficiently cater to the requirements of their customers in north and south India. Additionally, the business has had success using inorganic means to add new product lines and expand its geographic reach. The issue has been priced at a premium valuation, which is acceptable given its growth potential and competitive advantages. And therefore, we recommend investors to subscribe the issue."
~Santosh Meena, Head of Research, Swastika Investmart
Dabur on Friday told the stock exchanges that its Chairman of the Board of Directors, Amit Burman has resigned. He, however, will continue to be the Non-Executive Director of the Company. Further, the company said it has appointed Mohit Burman (who is currently the Non-Executive Vice Chairman of the Company) as the Non-Executive Chairman of the Board of Directors of the Company for a period of 5 years w.e.f. August 11, 2022.
The Board of Directors of Dabur India approved following changes in the position of Chairman and Vice Chairman of the company. The board accepted resignation of Amit Burman from the post of Chairman of the Board of Directors of the company with effect from the close of working hours of August 10, 2022. Burman shall continue to be the Non-Executive Director of the company. The board approved appointment of Mohit Burman (who is currently the Non-Executive Vice Chairman of the Company) as the Non-Executive Chairman of the Board of Directors of the company for a period of 5 years w.e.f. August 11, 2022.
Bharat Forge shares rallied 8% on stable business outlook post Q1 results. Looking ahead in to Q2FY23, the management expects stable performance across both the domestic and export markets despite uncertainty arising from the macro- economic headwinds
Sensex and Nifty were trading flat, dancing between gains and losses on Friday morning. Sensex was hovering around 59,330 while the NSE nifty 50 was at 17,666.
Paytm share price tumbled over 4 per cent on Friday to hit an intraday low of Rs 782 apiece on NSE. The slump follows RBI’s move to issue strict norms for digital lending space. It also comes a day after the Advisory firm Institutional Investor Advisory Services India Limited (IiAS) flagged the proposal to reappoint Vijay Shekhar Sharma as the Chief Executive Officer (CEO) of Paytm for another five years and also opposed the remuneration decided for the position. The advisory firm advised shareholders to vote against the move, ahead of Paytm’s annual general meeting (AGM) on August 19. So far this year, Paytm shares have fallen over 40 per cent. However, analysts at ICICI Securities, Goldman Sachs remain bullish on the stock and see up to 55% upside going forward.
S&P BSE Sensex and NSE Nifty 50 have soared more than 1% so far this week as bulls continued to dominate Dalal Street. Volatility has also slipped from its highs of close to 21 levels to not sit near 18 levels. Next week is once again a holiday-shortened one for Sensex and Nifty, however, there will be no dearth of opportunities for investors as a long list of marquee names go ex-dividend. These include IRCTC, Bharat Petroleum Corporation Limited, ICICI Securities, and even Apollo Hospitals stock among others. Here is the complete list.
Promoter Shapoorji Pallonji and Company is going to sell up to 23.7 lakh shares or 1.25% stake via offer for sale on August 12 and August 16. The floor price of the offer will be Rs 270 per share.
Phoenix Mills reports Rs 719 crore net profit in quarter ended June 2022 vs loss last year. Stock rises 6%
ONGC, Life Insurance Corporation of India, Hero MotoCorp, Grasim Industries, Divis Labs, Zee Entertainment Enterprises, Aegis Logistics, Ahluwalia Contracts, Apollo Tyres, Astral, Bajaj Electricals, Bajaj Healthcare, Bajaj Hindusthan Sugar, Balaji Amines, Bharat Dynamics, Campus Activewear, Dilip Buildcon, Dhani Services, Finolex Cables, Godrej Industries, Hindustan Aeronautics, Indiabulls Real Estate, India Cements, Kolte-Patil Developers, Muthoot Finance, Info Edge India, Power Finance Corporation, SJVN, Sun TV Network, Supriya Lifescience, Timken India, Varroc Engineering, Voltamp Transformers, and Wockhardt will be in focus ahead of June quarter earnings on August 12.
Ipca Laboratories reported 53 per cent fall in its Q1FY23 net profit at Rs 143.06 crore against Rs 306.66 crore in June 2021. Its net sales were up at Rs 1,585.74 crore versus Rs 1,565.79 crore, YoY.
IT, Pharma suffer most losses; Realty, Metals upbeat
ONGC, IndusInd Bank, Titan Company, ICICI Bank and Hindalco were among major gainers on the Nifty, while Apollo Hospitals, Tata Motors, Tech Mahindra, Infosys and Wipro were the laggards.
Benchmark indices opened flat with negative bias amid mixed global cues. The Sensex was down 68.30 points or 0.12% at 59264.30, and the Nifty was down 19.20 points or 0.11% at 17639.80.
Indian rupee opened marginally lower at 79.66 per dollar on Friday against previous close of 79.63.
"Continuing its prior daily rising trend, BANK NIFTY rose to 6-month high of 38,932-level. The index outperformed its benchmark-Nifty on the back of strength across major constituents. The key technical indicators positively poised on major timeframe charts. Our bullish view will remain intact, which could take the index towards 39,000-level initially and 39,400-level subsequently. On the lower side, now the index will find support around 38,300-level. As for the day, support is placed at around 38,708 and then at 38,537 levels, while resistance is observed at 38,991 and then at 39,103 levels."
~Reliance Securities
"Nifty 50 extended gain after surpassing crucial 17,400-level and rose to 4-month high of 17,719-level. The key technical indicators are positively poised on major timeframe charts. Overall market breadth turned positive and mixed trend witnessed across the sectors. As mentioned earlier, our bullish view will remain intact, this could lead the index towards 17,800-level initially and 18,000-level subsequently. In case of any decline, the index will continue to find support around 17,400-level. As for the day, support is placed at around 17,621 and then at 17,583 levels, while resistance is observed at 17,708 and then at 17,757 levels."
~Reliance Securities
Indian markets are likely to open on a flat note on the back of mixed global cues as caution prevails on Fed's interest hike rate strategy. US markets ended mixed on the back of gains in technology stocks amid release of macroeconomic data.
~ICICIDirect