Sensex and Nifty 50 trade marginally higher with consumer durables, metals, oil and gas and IT stocks outperforming. The strong bullish trend in these sectors have offset losses erupted in banking and auto stocks.
Hindustan Zinc shares witnessed steep fall of 19.29% in last 1-week and slipped over 22% in last 1-month on day 2 of the offer for sale (OFS) by promoter Vedanta. Caplin Point shares zoomed nearly 13% to touch a fresh all time high of Rs 1800.00 per share on Monday, August 19, 2024.
Earlier, the benchmark indices opened on a higher note amid weak global cues. Nifty opened above the 24,600 level while Sensex hit the opening bell at the 80,700 level. In the opening trade, BPCL, Shriram Finance, ONGC, NTPC and Titan were the top gainers while M&M, HDFC Life, Grasim, Nestle India and Tata Motors were the top losers.
In the early trade, Asian shares also edged up as investors await central bank's policy outcomes and US' annual Jackson Hole meeting.
Last week, on Friday, Wall Street ended on a positive note as well.
On August 19, stocks like Reliance Industries, Hindustan Zinc, Maruti Suzuki, Escorts Kubota, Techno Electric, Jubilant Pharmova, Caplin Point, ONGC, Oil India, Adani Enterprises, Genus Power among others will be in focus.
In the holiday-shortened week, Sensex closed with gains of 696.11 points or 0.87% from August 12-16, while Nifty 50 jumped 152.05 points or 0.62%. Currently, the Sensex is at 80,436.84, and the Nifty 50 is at 24,541.15.
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Aug 19, 2024, 2:50 pm IST
Aviation Stocks Mixed After DGCA data
SpiceJet shares rose by over 1%, while Indigo fell by 1%. As per the latest aviation data for July 2024, Indigo's market share rose to 62% versus 60.8% of June 2024, maintaining its leadership position. While SpiceJet shares dipped to 3.1% versus 3.8%.
Aug 19, 2024, 2:30 pm IST
Smallcap Stocks Give Bumper Returns In Lacklustre Session
BSE Smallcap index surged by a whopping 656.39 points or 1.22% despite the market trend being lacklustre. The index is near its intraday high of 54,566.37. Stocks like Matrimony, Sterling Tools, Oriental Aromatics, and Bharat Wire Ropes surged by 13-20% in a single-day.
Aug 19, 2024, 2:14 pm IST
Consumer durable stocks best performer
BSE Consumer Durables index jumped by over 600 points to trade at 61,281.64 in the second half. The index is near its intraday high of 61,436.55. Stocks like Voltas, Dixon, Crompton, Rajesh Exports, Bluestar and Amber are top gainers.
Aug 19, 2024, 1:52 pm IST
Adani Group EBITDA Jumps 33% In Q1
Billionaire Gautam Adani's ports-to-energy conglomerate saw June quarter pre-tax profit surge by 33% on back of strong performance by core infrastructure business as also emerging businesses ranging from solar and wind manufacturing to airports. "EBITDA (in April-June) surged by 32.87 per cent year-on-year to reach Rs 22,570 crore, resulting in a trailing twelve-month (TTM) EBITDA of Rs 79,180 crore, marking a 45.13% increase over the corresponding TTM of the previous year," the group said in a statement. Group net profit soared more than 50% to Rs 10,279 crore in April-June - the first quarter of the current 2024-25 fiscal year, according to PTI. "The consistently advancing EBITDA is largely driven by the Group's highly stable and resilient 'core infrastructure' platform, which constitutes over 80% of the portfolio EBITDA and saw a remarkable 41.6% growth year-on-year in Q1," it said.
Aug 19, 2024, 1:19 pm IST
Caplin Point Laboratories Shares Jump 13.51% After ANVISA Clears Chennai Plant
Caplin Point shares zoomed nearly 13% to touch a fresh all time high of Rs 1800.00 per share on Monday, August 19, 2024. The rally in Caplin Point share price came after the pharmaceutical firm said that it received Zero observations for Caplin Steriles’ injectable and ophthalmic manufacturing facility located at Gummidipoondi post inspection by ANVISA- Brazil.
Aug 19, 2024, 1:16 pm IST
Leather Exporters' Delegation To Visit Russia From Aug 26 To Tap Biz Opportunities
A delegation of over 20 leather sector executives will be visiting Russia this month to seek investments and tap growing export opportunities. The three-day visit will start from August 26. Council for Leather Exports Executive Director R Selvam said that at present India is exporting leather goods in the range of USD 60 million to USD 80 million, but it is low as huge opportunities are there in Russia. "We will also participate in an international fair - Euro Shoes Premier Collection in Moscow. We are taking a delegation with an aim to attract investments, technology collaboration in tannery and product manufacturing," Selvam told PTI. He said that huge export opportunities are there in areas like leather garments, goods and footwear. Though there are payment issues in Russia due to Western countries' sanctions on account of the Russia-Ukraine war, exporters who are dealing in Rupee can ship the goods. The export of leather, leather products and footwear rose from USD 44.84 million in 2022-23 to USD 62.48 million in 2023-24.
Aug 19, 2024, 12:27 pm IST
Hindustan Zinc To Recommend Dividend Tomorrow, Shares Fall
Vedanta Subsidiary Hindustan Zinc is planning to hold meeting of Board of Directors on August 20, 2024 to consider and approve the proposal of announcing second interim dividend for FY 2024-25. Current market price of Hindustan Zinc shares on BSE is Rs 495.90 per share with decline of 4.63% in trade today. Hindustan Zinc shares witnessed steep fall of 19.29% in last 1-week and slipped over 22% in last 1-month on day 2 of the offer for sale (OFS) by promoter Vedanta. However, Hindustan Zinc shares offered 59% in last 6-months. The market capitalisation of Hindustan Zinc stood at Rs 2,09, 512.44 crore. Check details below:
Hindustan Zinc To Consider 2nd Interim Dividend On Aug 20: According to the exchange filing of Hindustan Zinc announced on August 14, 2024, “a meeting of the Board of Directors of the Company is proposed to be scheduled on Tuesday, August 20, 2024, to consider and approve the Second Interim Dividend on equity shares, if any, for the Financial Year 2024-25.
Aug 19, 2024, 12:26 pm IST
Gold Prices India, Aug 19: Check Latest Gold Prices After Yellow Metal Hit August High
Gold price in India today remained unchanged after prices hovered near record high in the month August on Saturday amid rising prospects of a US interest rate cut in September. 22k gold prices today stood at Rs 66,700/10 grams and 100 grams of 22 carat yellow metal prices today recorded at Rs 6,67,000 after prices remained unchanged on Monday. 24k gold prices today remained steady at Rs 72,770/10 grams and 100 grams of 24 carat precious metal prices today registered at Rs 7,27,700.
18k gold prices today stood at Rs 54,570/10 grams and 100 grams of 18 carat precious metal prices today are retailing at Rs 5,45,700.
Earlier on August 17, 22k gold prices jumped by Rs 1050 to settle at Rs 66,700/10 grams and 100 grams of 22 carat precious metal prices rallied by Rs 10,500 in India on Saturday. 24k gold prices soared by Rs 1150 to Rs 72,770/10 grams and 100 grams of 24 carat yellow metal prices gained 11,500 to Rs 7,27,700 on August 17, 2024.
Spot Gold, Spot Silver Prices Today: Spot gold declined 0.2% at ,502.78 per ounce, as of 0317 GMT, and U.S. gold futures gained 0.2% to ,541.80. spot silver surged 0.2% to .08 per ounce, platinum rallied 0.4% to 7.75 and palladium fell 0.4% to 7.13, according to Reuters.
Aug 19, 2024, 11:48 am IST
Purchase Of Piramal Enterprises Limited Shares by Promoter Entity
The promoters of Piramal Enterprises Ltd. informed that on August 16, 2024, an entity within the Promoter Group purchased 616,615 equity shares of Piramal Enterprises Ltd., representing 0.27% of the company's paid-up capital, on the National Stock Exchange of India Limited (NSE). As a result of this purchase, the Promoter Group's shareholding in PEL has increased from 46.03% to 46.30%. The Promoters have consistently demonstrated their confidence in the growth trajectory of PEL. This latest acquisition of shares aligns with that belief, further reflecting their trust in the Company’s business fundamentals, future plans, and value creation potential.
Aug 19, 2024, 11:23 am IST
New IPO Listing Coming Soon On BSE And NSE; Who Is It? A Hint! It Belongs To Ace Investor Rekha Jhunjhunwala
Rekha Jhunjhunwala has learned from the best, her late-husband Rakesh Jhunjhunwala who was once upon a time called 'The Warren Buffett of India' when it came to grabbing opportunities in the stock market. Rekha has taken her husband's legacy only to greater heights with their portfolio gains at over Rs 41,765.61 crore as of August 16, 2024. And she is now planning to tap the primary market with her upcoming initial public offering (IPO).
Energy, Metals Boost Indian Indices; Banking, Auto Lag
Domestic indices kicked off Monday's session in the green, defying weak global sentiment. While banking, auto, and realty stocks are facing pressure, energy, power, and metal sectors are outperforming. ONGC surged 1.51%, driving the energy index up 0.83%.
Aug 19, 2024, 10:45 am IST
Gold Rates Remain Stable In The Indian Market On August 19th.
India gold prices for the 22-carat and 24-carat are at ₹ 6,670/- per 10 grams and ₹ 7,277/- per 10 grams respectively
Veranda Learning Expands Global Footprint with Jumeira University
Veranda Learning Solutions, a listed company providing end-to-end solutions in the education space, announced its foray into the Middle East through its popular brand, J.K. Shah Classes. The company is partnering with Jumeira University Connect, the training arm of Jumeira University, to introduce a Chartered Accountancy (CA) preparation course for students in the UAE. This initiative marks a significant milestone in Veranda Learning’s global expansion strategy. The CA preparation course, designed and delivered by J.K. Shah Classes, has been meticulously crafted to meet the high standards of the Knowledge and Human Development Authority (KHDA), the regulatory authority of the Government of Dubai. The curriculum has been designed to align with the specific educational needs and cultural context of students in the UAE, ensuring a comprehensive learning experience that combines global best practices with local relevance. KHDA’s approval further ensures that the program adheres to the highest educational standards required for the professional development of students in Dubai and the wider UAE.
Aug 19, 2024, 10:07 am IST
Weekly Market Outlook
Palka Arora Chopra, Director of Master Capital Services Ltd said, the outlook for the market will be guided by the major domestic and global economic data such as HSBC India Services PMI (Aug), HSBC India Manufacturing PMI (Aug) US Crude Oil Inventories, FOMC Meeting Minutes, S&P Global Services PMI (Aug), US Existing Home Sales (Jul) and US New Home Sales data.
Aug 19, 2024, 9:45 am IST
GPT Healthcare | Occupancy To Improve; Guidance Unchanged
Jainil Shah of JM Financial Institutional Securities said, GPT Healthcare (GPTHEALT) missed estimates for 1QFY25 largely due to a dip in the occupancy across key hospitals. The management attributed this fall in occupancy to intended reduction in ALOS and pronounced impact of elections in the region. ALOS reduced to 3.7 (from 4 in 1QFY24). IP volumes remained steady and grew flat-to-low double digits across facilities. ARPOBs were up +8% YoY driven by improvement in case mix and price increase. The management maintained their FY25 guidance of 12-14% growth and alluded to improving growth trends. We factor in Revenue/EBITDA/PAT CAGR of 16%/16.5%/21% respectively, over FY24-27 with addition of new hospitals. Despite its promising growth prospects, GPTHEALT trades at a substantial discount to peers – ~11.5x FY26 EV/EBITDA vs. industry average of 21x (Yatharth is trading at ~14x). This valuation discrepancy presents an attractive risk-reward for investors, with potential for valuations to converge with peers as the key investment thesis plays out. We value GPTHEALT at 16x Sep’26 EV/EBITDA to arrive at a TP of INR 255. Maintain BUY.
Aug 19, 2024, 9:31 am IST
Sensex, Nifty Start In Green
Indian stock market witnessed gap-up opening on August 19 with Sensex crossing over 80,500 mark and Nifty 50 climbing above 24,630 levels. Stocks like NTPC, Titan, and Tata Steel are top bulls.
Aug 19, 2024, 9:21 am IST
Market Outlook By Aditya Gaggar, Director of Progressive Shares
Finally the Index has given the much-awaited range breakout (23,970-24,420) and opened gates for 24,870; while on the flip side, due to change in polarity the support level is shifted higher to 24,420. BankNifty is still in the range of 49,730-50,730 but has formed a double bottom pattern with bullish divergence in the RSI, awaiting a breakout. In the previous weekly edition, we had distinctly mentioned the completion of a pullback move in the IT sector followed by a rally, and the same was witnessed during the week which has boosted our confidence to remain bullish (HCL Tech and Tech Mahindra- under technical coverage). Another sector in which we are bullish with a stock-specific approach is FMCG (Under technical coverage- Balrampur Chini- Record weekly close, ITC- Bullish Flag and Pole Breakout, and Jubilant Foodworks- At almost 2 years high and forming a bullish pennant and pole pattern). After a spectacular rally, the Pharma segment has formed a small bearish candle on the weekly chart with a probable bearish divergence in the RSI. The round of correction, if any, is likely to be short-lived considering a strong bullish momentum. In the Realty segment, a hidden bullish divergence was observed, defining trend continuation (DLF- Falling Wedge Breakout, and Prestige Estate- On the Verge of a Bullish Flag and Pole Breakout). Few stocks from the Mid and Smallcap segments appear strong on technical front namely Birla Corporation (Formed advanced harmonic pattern- Bullish Gartley), Kitex Garments (Cup and Handle Breakout), and Avadh Sugar/PCBL/Sterling Tools (Bullish Flag and Pole Breakout).
Aug 19, 2024, 9:15 am IST
Axiscades Technologies Shares In Focus
AXISCADES Technologies reported a mixed Q1FY25 performance, driven by strong order book, targeted INR 16000+ Mn revenue and INR 1600-1800 Mn PAT by FY26, and outlined strategic initiatives amid macroeconomic challenges and supply chain issues. Company anticipate an organic contribution of ~30 Mn, though this is a ballpark figure, company has 3,220 Mn of executable production orders. Additionally, The company is rebranding to Axiscades Mistral to reflect its focus on aerospace, defense and integrated capabilities. It's investing in digital engineering and expanding sales teams to drive growth. We value the stock on a P/E (x) multiple of 17x to its FY27E EPS INR 37.5, which yields a target price of INR 637 per share. We maintain our Accumulate rating on the stock, said Arihant Capital Markets Ltd.
Aug 19, 2024, 9:13 am IST
Rupee Vs Dollar
The Rupee fell against the US dollar on Monday, opening at 83.88, as domestic bond yields followed the movements of US counterparts. On Friday, the rupee ended the week at 83.94 versus the US dollar, barely moving from week to week.
Aug 19, 2024, 9:00 am IST
Bank Nifty Prediction
Technically, it formed a green candle on the daily chart, indicating strength. However, the index may encounter resistance near 50,805, where the 21-DEMA is positioned. A sustained move above 50,810 could drive the index toward the 51,200-51,500 range, said Hrishikesh Yedve.
Aug 19, 2024, 8:45 am IST
Nifty Prediction
Technically, on a daily chart, Nifty crossed the 21-Day Exponential Moving Average (DEMA) around 24,365 and formed a significant green candle, showing strength. As long as the index remains above 24,350, the bullish momentum is expected to continue. On the upside, gap resistance is placed near 24,690 and 24,960 levels, said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd.
Aug 19, 2024, 8:35 am IST
LIC Housing Finance Announces Special Discounted Rates On Home Loans
In honor of the courageous men and women who serve in the Armed Forces services, LIC Housing Finance Limited has announced special reduced rates on home loans under the "Griha Rakshak" special home loan plan. Home loans up to 2 crores are available under the Griha Rakshak plan to applicants having a CIBIL score of 750 or above at a preferential rate of 8.40% annually without any processing fees. This exclusive deal is available through September 30, 2024. All the serving/retired defense personnel under 'Army', 'Navy', 'Airforce' and 'Coast Guard' and also all paramilitary forces are eligible, as are members of all paramilitary forces.
Aug 19, 2024, 8:28 am IST
Piramal Enterprises Shares In Focus
On August 16, 2024, the promoters group of Piramal Enterprises bought 6,16,615 equity shares or 0.27% of the company's total paid-up share capital. The promoter group of the company now owns 46.30% of the company's total paid-up share capital, up from 46.03% before this acquisition.
Aug 19, 2024, 8:17 am IST
Market to consolidate in a broader range
The Q1FY25 earning season has ended on a positive note, with overall growth driven by Automobiles (+28% YoY) and BFSI (+16% YoY), with improved contributions from Healthcare (+29% YoY), Real Estate (+62% YoY), and Capital Goods (+23% YoY). Metals also reported a strong earnings growth of 18% YoY. Earnings for the Nifty-50 rose 4% YoY (vs. our estimate of +3%). We expect the earnings momentum to continue with a steady growth of ~15% over the next 2 years (FY24-26). Softening in US PPI data has raised hopes of rate cuts in the US. Thus, all eyes next week will be on US Fed meeting minutes. Overall we expect the market to consolidate in a broader range and take cues from global factors, said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Aug 19, 2024, 8:10 am IST
Options Market Insights
The options market is echoing bullish sentiment, evidenced by increased put writing relative to calls. The index’s strong breakout above its previous week’s high has triggered this shift. Significant open interest is seen at the 25,000 call (75.62 lakh contracts) and the 24,500 put (45.02 lakh contracts), with notable activity around the 24,300-24,400 puts and 24,600-24,700 calls. The Put-Call Ratio (PCR) has risen from 0.70 on Wednesday to 1.18, marking a shift from bearish to bullish sentiment, as the PCR surpasses 1 a positive indicator after breaking a two-week streak of bearishness. The Max Pain Point, the strike price with the most open options contracts, remains at 24,500, serving as a critical level influencing the index’s movement, said Dhupesh Dhameja, Technical Analyst, SAMCO Securities.
Aug 19, 2024, 8:07 am IST
Market Outlook Today By Rajesh Bhosale, Equity Technical Analyst, Angel One
The bulls are back, as recent sessions have established a base around the key support of the 50-Day EMA, and Friday's strong momentum suggests that prices are forming a structural bottom. Prices have closed above the recent congestion zone, and a range breakout is visible on the hourly charts. Additionally, Nifty has closed above the 20-Day EMA, which previously acted as resistance. With these technical indicators, it seems there’s more fuel for Nifty on the upside. In the upcoming sessions, we may see levels of 24700 and 24850 being tested, which could serve as immediate hurdles. If global markets remain supportive, we might even retest the 25000 levels and beyond. Conversely, the bullish gap left today around 24200 is critical; the observations above hold as long as it is defended. However, if breached, the market may head back toward the lower levels of 24000 and 23900. Traders are advised to monitor these levels and consider a buy-on-dip approach. We also observed broad-based buying, with strong performance in midcap counters, suggesting a stock-centric approach could uncover outperforming opportunities.
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