24, September, 2025
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Market Highlights

Get the latest Indian stock / share market highlights, BSE/NSE stock news, business research reports & details - updated daily by Money Times.

October 11, 2024

  • *Special one hour Diwali Muhurat Trading Session will be on Friday, 1st Nov 2024 at 6.15 pm to 7.15 pm*
  • JPM on Telecom
  • Upgrade Voda Idea to N from UW, TP Raised to Rs 10 from Rs 7
  • Bharti A – OW. TP raised to Rs 1920
  • Bharti Hexacom – OW, TP Raised to Rs 1580; premium to Bharti has expanded
  • Indus Tower – OW, TP Raised to Rs 525; top pick in telcos & tower cos
  • Sustained tariff repair likelihood pushed up by lack of AGR relief and affordability;
  • Bake in tariff hikes of 15% in FY27E
  • Jefferies on GMR Airports
  • Buy, TP Rs 106
  • GMRI, via its subsidiary GNIAL, has signed a concession agreement for development/operation of the Nagpur Airport (Mah).
  • This airport is relatively small currently (FY24: 2.8mn pax; 10-yr CAGR: ~8%), but city is of strategic importance
  • UBS on 360 One
  • Initiate Buy, TP Rs 1250
  • Core ARR Revenue & AUM to grow faster vs overall biz; TBR a plus
  • Core profitability expected to improve, backed by higher operating leverage
  • New business avenues- HNWI & global biz pose upside risks
  • Expect ROE to improve to 32% in FY27E
  • MS on Varun Beverages
  • OW, TP Rs 674
  • Board approves QIP of up to Rs75bn
  • As of 2QCY24, VBL has net debt of Rs59bn with net debt to equity of 0.7x & net debt to trailing 4Q EBITDA of 1.37x.
  • In past, management indicated they have set an outer limit of net debt target of 2x EBITDA
  • HSBC on Varun Beverages
  • Buy, TP Rs 780
  • Board approved a QIP of Rs75bn, implying c4% equity dilution
  • VBL intends to use proceeds for debt repayment, to strengthen its b/s & growth opportunities
  • A faster ROIC expansion is possible as value shifts from debt to equity holders
  • CITI ON RBI POLICY
  • RBI Kept Rates On Hold, Changed Stance To Neutral
  • Beyond The Adjustments, RBI Kept Annual FY25 Infln & Growth Outlook Unchanged
  • Have Marginally Adjusted Baseline View Of 1st Rate Cut Being In Feb Rather Than Apr
  • Acknowledge That There Are Risks Of A Delayed Rate Cut
  • Change In Stance Appears To Be More About Gaining Policy Flexibility
  • Rate Cut Cycle Could Be Shallow (50 bps) Unless Growth Weakens Materially
  • Bernstein on PB Fintech
  • Maintain Outperform with target price of Rs 1720
  • If the plan works, PB can be more dominant in a much larger Indian health insurance market
  • If the plan fails, the downside should ideally be capped at $100mn
  • Management understands this is ON left-field, and has reiterated that it is a one-time investment
  • Inclined to believe the management's stance, thereby capping downside
  • While we do not like the capital allocation, we take the view that this is a one-time investment, thus limiting stock impact
  • We draw comfort from the strong business momentum in the insurance business
  • Jefferies on Jon Creation
  • IT slowdown weighs on formal job creation
  • Job creation pace weakened to 3-yr low in the organized segment as large listed IT cos shed employees
  • Analysis of 8.3 million employees of 2000 listed cos shows that ex-IT, job creation was still healthy at 3%+
  • BFSI posting 3rd consecutive strong year; Wages grew by a strong 12% YoY
  • Capex linked jobs in construction are on an upswing + agri improved post a strong monsoon
  • Both these should drive a bottom-of-pyramid consumption recovery soon
  • GS on Insurance
  • Turn more constructive on the life insurance space
  • See improvements in the operating environment
  • Corporates assert limited impact of new regulations
  • See VNB growth acceleration for private players
  • With rate cut cycle see an increase in embedded value
  • Valuations continue to look attractive
  • Product mix set to stabilize in H2 with margins potentially bottoming out by Q4
  • HDFC Life - Maintain Buy with target price of Rs 820
  • SBI Life - Maintain Buy with target price of Rs 2000
  • SIP Inflows Reach New Heights
  • Key Highlights:
  • - Monthly SIP contributions cross ₹24,000 crore for the first time in September
  • - Inflows reach an all-time high of ₹24,508.73 crore
  • - Total number of active SIP accounts hit a record 9.87 crore
  • - Assets under management (AUM) of SIPs soar to ₹13.81 lakh crore
  • - Overall AUM of mutual fund industry touches ₹67.09 lakh crore, setting a fresh record
  • Growing Trust in Mutual Funds
  • - Consistent inflows highlight growing trust in mutual funds
  • - Industry's expansion into diverse products helping investors meet varied financial goals
  • - "Mutual Funds Sahi Hai" campaign increasing investor confidence
  • - Steadily rising SIP contribution shows shift towards long-term, disciplined investment
  • Investment Platforms Drive Growth
  • - Rise in SIPs driven by young investors under 35, reflecting growing financial awareness among India's youth
  • Industry Insights
  • - AMFI Chief Executive, Venkat Chalasani, comments on the growing trust in mutual funds and the industry's expansion
  • SG FINSERVE: Company has received a new Certificate of Registration (dated October 3, 2024) as Non-Banking Financial Company- Investment and Credit Company (Type II)
  • This certification authorizes Co.to conduct business and operations as an Investment and Credit Company (Type II) in accordance with the applicable RBI regulations.
  • GNRL: Company informed regarding the signing of Carried Interest Agreement for transfer of Portion of Participating Interest (Pl) as operator of Oil Fields, from Step Down Subsidiary of the Company viz. GNRL Oil & Gas Limited to our Company and execution of Deed of Assignment and Assumption for Oil Fields at Allora, Dholasan, North Kathana and Unawa.
  • GNRL Oil & Gas Limited (GOGL) step down subsidiary of the Company holds 100% Participating Interest (Pl) as Operator of Allora, Dholasan, North Kathana and Unawa Fields. Under this agreement, GNRL Oil & Gas Limited shall transfer 50% Participating Interest (Pl) to Company.
  • STOCKS MOVED TO STORT TERM ASM LIST
  • Bombay Wire Ropes Ltd
  • Ceinsys Tech Ltd
  • Cenlub Industries Ltd
  • Safa Systems & Technologies Ltd
  • STOCKS OUT FROM SHORT TERM ASM LIST
  • Arihant Capital Markets Ltd
  • Bizotic Commercial Ltd
  • Globus Spirits Ltd
  • India Steel Works Ltd
  • Ishaan Infrastructures and Shelters Ltd
  • Medicamen Biotech Ltd
  • Mehta Integrated Finance Ltd
  • Rama Steel Tubes Ltd
  • Renaissance Global Ltd
  • Rose Merc Ltd
  • Sequent Scientific Ltd
  • Swagtam Trading & Services Ltd
  • Vasudhagama Enterprises Ltd
  • KRSNAA DIAGNOSTICS: Company has received the signed agreement from the Ranchi Institute of Neuro-Psychiatry & Allied ServiceS, for Supply, Install, Commission, Operate and Maintain the Radiology Center (CT & MRI) and Pathology Laboratory Services on Public Private Partnership basis at Ranchi Institute of Neuro-Psychiatry & Allied Sciences, Government of Jharkhand, India.
  • STOCKS OUT FROM SHORT TERM ASM LIST
  • Arihant Capital Markets Ltd
  • Bizotic Commercial Ltd
  • Globus Spirits Ltd
  • India Steel Works Ltd
  • Ishaan Infrastructures and Shelters Ltd
  • Medicamen Biotech Ltd
  • Mehta Integrated Finance Ltd
  • Rama Steel Tubes Ltd
  • Renaissance Global Ltd
  • Rose Merc Ltd
  • Sequent Scientific Ltd
  • Swagtam Trading & Services Ltd
  • Vasudhagama Enterprises Ltd
  • TCS aims to hire 40,000 freshers by March 2025 as the Indian IT sector revives its recruitment efforts.
  • Stocks in News post Market closure
  • Gujarat Natural Resources Limited : Board Approved the matter of transfer of portion of the Participating Interest (Pl) as an operator of Allora, Dholasan, North Kathana and Unawa Oil Fields, from step down subsidiary viz. GNRL Oil & Gas limited to Company subject to the approval of Government of India (GOI).
  • MAZAGON DOCK SHIPBUILDERS LIMITED : Maharashtra State Power Generation Company Limited (MAHAGENCO) has placed a Purchase Order on Mazagon Dock Shipbuilders Limited for Supply Installation and Commissioning of AI based Comprehensive Infrasecure Project at GTPS-Uran and KGSC-Pophali at a total price of RS. 12167,60,768.00 .
  • Mukta Arts Limited : Mukta A2 Cinemas Private Limited, a Subsidiary Company opens New Luxury 2-Screen Multiplex in Behror. This exciting new addition offers moviegoers the perfect blend of luxury, comfort, and the latest in cinema technology.
  • Ahasolar Technologies Limited : Company has secured the prestigious contract to develop the digital ecosystem and to contribute to the technological deployment of the World's Biggest Rooftop program of Govt of India for the PM Surya Ghar: Muft Bijli Yojana with the order slated for execution by March 2025.
  • Exicom Tele-Systems Limited : The Company has completed the remittance of third tranche investment today. This involves subscribing to an additional Euro 7,59,219 ordinary shares each with a nominal value of Euro 1, of Exicom Power Solutions B.V., a wholly owned subsidiary, for cash consideration aggregating to EURO 7,59,219 .
  • Privi Speciality Chemicals Limited : The company has received "Certificate of API (Active Pharmaceuticals ingredient) Product Listing" and "Certificate of Registration" for its Camphor product from U.S. Food and Drug Administration (US FDA). Having received the said registration, the Company can now expand itsbusiness horizon into the area of pharmaceutical applications in USA.
  • Murae Organisor Limited : Board meeting to be held on 15th October, 2024 to consider issue of Equity shares of the Company on Rights basis.
  • Oriental Rail Infrastructure Limited : Company has secured order worth Rs. 1,58,40,051.44/- from ‘North Eastern Railways (NER) , Gorakhpur, Indian Railways.
  • Manoj Ceramic Limited : Board meeting to be held on Oct 15th ,to Consider the proposal for raising of funds in various routes including QIP.
  • Earthstahl & Alloys Limited : The 132 KV power supply system installed by the Company has been charged.
  • IREDA : Company has received approval from the Administrative Ministry i.e. Ministry of New and Renewable Energy for setting up of wholly owned subsidiary for retail business such as PM KUSUM, rooftop solar and other B2c segments in RE and emerging RE sector including EVs, Energy storage, Green Technologies, sustainability, Energy Efficiency etc.
  • Gujarat Natural Resources Limited : Signing of Carried Interest Agreement for transfer of Portion of Participating Interest (Pl) as operator of Oil Fields, from Step Down Subsidiary of the Company viz. GNRL Oil & Gas Limited to our Company and execution of Deed of Assignment and Assumption for Oil Fields at Allora, Dholasan, North Kathana and Unawa.
  • Uno Minda Limited : Toyoda Gosei Uno Minda India Pvt. Ltd. Joint Venture of Uno Minda Ltd., has started its commercial production at its manufacturing facility located at Neemrana, Rajasthan.
  • SUDITI INDUSTRIES LIMITED : Board meeting to be held on Oct 15th to approve the proposal for raising of funds in various routes.
  • DCM Nouvelle Limited : The Company’s insurance claim has been approved for an amount of INR 5.71 crore after mandatory deduction of 5% of claimed amount on October 10, 2024, which will be realized in due course from New India Assurance Co. Ltd, against the claim made for INR 6.38 crore .
  • Jubilant Pharmova Limited : Jubilant Generics Limited, had preferred rectification application against certain tax demands raised by the Income Tax Department for Assessment Year 2020-21. Pursuant to rectification orders received, tax demand of Rs.38.13 crores stands deleted in its entirety .
  • Utkarsh Small Finance Bank Limited : Utkarsh Small Finance Bank Limited (“Bank / Company”) has agreed to make a strategic investment by acquiring and/or subscribing up to 7% of equity shares (post-acquisition) of Saksham Gram Credit Pvt Ltd (Saksham/ Investee Company).
  • ACHYUT HEALTHCARE LIMITED : Board meeting to be held on 19th October, 2024, To consider and approve Sub-Division of the face value of equity share subject to necessary approvals.& recommend issue of Bonus shares post sub-division of shares to the equity shareholders of the Company.
  • Exide Industries Limited : Company has invested Rs. 99,99,99,972/- by way of subscription in the equity share capital of its wholly owned subsidiary, "Exide Energy Solutions Limited on rights basis. With this investment, the total investment made by the Company in EESL stands to Rs. 2,852.24 crore.
  • CESC Limited : Purvah Green Power Private Limited, a Subsidiary of the Company has incorporated a Wholly Owned Subsidiary Company named JSK Renewable Private Limited .
  • KEI INDUSTRIES LIMITED : Board meeting to be held on Oct 15th to Proposal for raising of funds by way of issuance equity shares or any other eligible securities through qualified institutions placement.
  • Endurance Technologies Ltd : Capital expenditure for a greenfield project has been approved and that the Company plans to set up a new facility to manufacture alloy wheels for two wheelers on a land parcel of ~30 acre situated at Aurangabad Industrial City (“AURIC”), Bidkin, Dist. Chh. Sambhajinagar.
  • VISHNU PRAKASH R PUNGLIA LIMITED : VPRPL Awarded Contract by Office of the DYCE-C-II-JP-ENGINEERING, NWR, Jaipur Rajasthan.
  • TBO Tek Limited : Tek Travels DMCC, a material subsidiary of the Company, has incorporated a wholly owned subsidiary in Australia, Sydney, by the name of TBO Tek Australia Pty Ltd.
  • ORGANIC COATINGS LTD : Board Approved raising of funds .
  • Emerald Finance Limited : The company has partnered with Deeps Tools Private Limited.
  • Zee Media Corporation Limited : The Company’s wholly owned subsidiary viz. Zee Akaash News Private Limited has, after obtaining requisite approvals, entered into Agreement for making an investment aggregating to Rs. 3,75,22,391/- in Flutrr Digimate Private Limited.
  • Olectra Greentech Limited : Company has issued Irrevocable Undertaking with Indemnification obligation ("Undertaking") in favour of REC Limited along with Evey Trans Private Limited which is a step down subsidiary of our promoter, which will specifically act as a Special Purpose Vehicle for executing the Contract with Brihan Mumbai Electric Supply and Transport Undertaking .
  • Hindustan Zinc Limited : The Company has received an Order from the Office of the Commissioner of Central excise & Central Goods Service Tax Commissionerate confirming Penalty of Rs. 7,43,17,994 along with Tax demand and applicable interest. The issue pertains to reversal of Cenvat Credit of inputs/input services used for effecting exempted and non-taxable supply during FY 2011-12 to June 2017.
  • AARTI INDUSTRIES LIMITED : The wholly owned subsidiary of the Company i.e. Aarti Chemical Trading - FZCO (Dubai), has incorporated an overseas wholly owned subsidiary in the name of Aarti Chem Trading USA Inc. The newly incorporated Company i.e. “Aarti Chem Trading USA Inc.” becomes a step down subsidiary of the Aarti Industries Limited.
  • Texel Industries Limited : Receipt of in-principle Approval in relation to the proposed preferential issue of Texel Industries Limited
  • Oberoi Realty: The company has approved to raise Rs 6,000 crore via shares or other instruments.
  • Bandhan Bank: The RBI has approved the appointment of Partha Sengupta as managing director and chief executive officer for a three-year term, effective Nov. 10.
  • Ugro Capital: The company’s assets under management have crossed the Rs 10,000 crore milestone in the second quarter of FY25
  • SG Finserve: The company has received a new certificate of registration as a non-banking financial company—investment and credit company (Type II). This certification authorises the company to conduct business and operations as an investment and credit company (Type II) in accordance with the applicable RBI regulations
  • Infosys: The company has announced a strategic collaboration Zooplus to enhance its service capability and scalability.
  • Here are the key takeaways from the Tata Consultancy Services Limited (TCS) Q2 2025 Earnings Call Transcript:
  • * TCS is mourning the loss of Mr. Ratan Tata. The company's leadership paid tribute to him and offered condolences to his family. Mr. Tata's leadership and values left a lasting impact on TCS.
  • * TCS Q2 2025 revenue grew by 5.5% year-on-year in constant currency terms, demonstrating resilience in a challenging global environment. All growth markets exceeded the company average, with India leading at 95.2% growth.
  • * The Banking, Financial Services, and Insurance (BFSI) vertical showed signs of recovery, particularly in North America, as the interest rate environment eased. However, capital markets remained weak.
  • * Clients are prioritizing cost optimization and efficiency, leading to a subdued demand for discretionary projects.
  • * Manufacturing is facing near-term pressure due to labor and supply chain constraints. However, the company expects demand to pick up in future quarters as these issues are resolved.
  • * The Life Sciences and Healthcare vertical experienced client-specific headwinds in the U.S., significantly impacting growth. The company anticipates stabilization in Q3 and a return to growth in Q4.
  • * The Technology & Services vertical achieved sequential growth for the second consecutive quarter.
  • * Demand for cybersecurity and cloud services remained strong.
  • * Generative AI is becoming increasingly mainstream and is being integrated into various aspects of TCS's business. The company is seeing strong traction in areas like reimagined contact centres with AI and AI-powered cloud modernization.
  • * TCS is investing significantly in emerging growth markets such as India, APAC, Latin America, and the Middle East and Africa. These markets are expected to become sustainable long-term growth drivers.
  • * Total contract value (TCV) in Q2 stood at $8.6 billion. The company is optimistic about improved discretionary spending and capital investments from clients due to easing inflation, improving macroeconomic trends, and positive holiday season expectations.
  • Today's Headlines from SIPfund
  • Economic Times
  • Sebi extends deadline to implement direct pay-out of securities to clients' demat a/c to Nov 11
  • IREDA Q2 Results: PAT jumps 36% YoY to Rs 388 crore, revenue up 38%
  • Anand Rathi Q2 Results: Cons PAT jumps 32% YoY to Rs 76 crore. Rs 7/share interim dividend declared
  • Govt releases advance instalment of Rs 1.78 lk cr for state govts amid festive season
  • World Bank maintains India's FY25 GDP growth forecast at 7% amid strong agricultural production, employment growth
  • ANAND Group invests Rs 600 crore to boost electric vehicle and SUV component manufacturing
  • UPI transactions volume rises 52 pc to 78.97 billion in Jan-Jun: Report
  • NCLT directs to initiate insolvency proceedings against Syska LED Lights
  • Jindal Power, Vedanta and CESC in race for Hiranmaye Energy's ₹1,300 crore assets
  • Listed property developers halve net debt to ₹20,808 crore
  • Payments firm Tonetag looks to bag $50 million from Iron Pillar, others
  • Software-as-a-service startup Spry Therapeutics secures $15 million
  • Finance automation startup ZenStatement raises $1.6 million in seed funding
  • *Business Standard*
  • TCS Q2FY25 results: Net profit rises 5% to Rs 11,909 cr, revenue up 7.6%
  • Centre considers seed funding to establish a shipping insurance entity
  • Good Glamm Group acquires Sirona Hygiene for Rs 450 cr in all-cash deal
  • Economists caution on RBI's growth optimism, project FY25 growth below 7.2%
  • PM Modi holds bilateral talks with counterparts from Japan, New Zealand
  • JSW Steel partners with BHP, Carbon Clean to work on capture technology
  • Manufacturing output to jump 9% if more women join workforce: World Bank
  • Govt repurchases Rs 24,453 crore worth of bonds through buyback auction
  • Give borrower info until loan cycle or shutdown: RBI to credit institutions
  • *Financial Express*
  • Pine Labs India loss widens 3x in FY24
  • Suzlon bags 400 MW captive wind power deal from Jindal Renewables
  • Construction equipment sector to see revenue growth decelerate to 4-6% this fiscal on decline in road contracts
  • Railways, NHAI drag down CPSE capex
  • Inflows into equity mutual funds down 12 per cent in September
  • *Mint*
  • China Investors Expect $283 Billion of New Stimulus This Weekend
  • Finance Minister Nirmala Sitharaman to visit US between 16-28 October
  • TCS adds 11k employees in H1FY25; campus hiring begins for FY26
  • Govt orders audit of Ola Electric amid surge in consumer complaints: Report
  • E-way bills hit another record in September, signalling festival season boost
  • Multilateral banks could lend up to $480 billion more before rating downgrades, Fitch says
  • *Q2FY25 EARNING CALENDAR 11.10.2024*
  • HATHWAY, JUSTDIAL, RIIL
  • *Q2FY25 EARNING CALENDAR 12.10.2024*
  • *DMART*, NETWORK18
  • *DMART*
  • * Revenue expected at Rs 14206 crore versus Rs 12624 crore
  • * EBITDA expected to be seen at Rs 1166 crore versus Rs 1005 crore
  • * EBITDA margin expected to be seen at 8.21% versus 7.96%
  • * Net profit expected to be seen at Rs 770 crore versus Rs 623 crore
  • *Q2FY25 EARNING CALENDAR 14.10.2024*
  • ALOKINDS, GOPAL,*HCLTECH*, ORIENTHOT, RAJOOENG, *RELIANCE*, SWSOLAR
  • *HCLTECH*
  • * Revenue expected at Rs 28558 crore versus Rs 28057 crore
  • * EBIT expected to be seen at Rs 5080 crore versus Rs 4795 crore
  • * EBIT margin expected to be seen at 17.78 % versus 17.09%
  • * Net profit expected to be seen at Rs 4019 crore versus Rs 4257 crore
  • *RELIANCE*
  • * Revenue expected at Rs 234682 crore versus Rs 231886 crore
  • * EBITDA expected to be seen at Rs 39809 crore versus Rs 40968 crore
  • * EBITDA margin expected to be seen at 16.96% versus 17.66%
  • * Net profit expected to be seen at Rs 15974 crore versus Rs 17394 crore
  • China Moves To Stimulate Economy:
  • • Cut reserve req ratio, releasing ~1 trillion yuan
  • • Lowered key interest rates
  • • Reduced mortgage rates
  • • Issued 1 trillion yuan in special sovereign bonds
  • • 100B Yuan govt investment
  • • Child subsidies for families
  • LLOYDS ENGINEERING WORKS APPROVED MOU ENTERED BETWEEN CO, BHILAI ENGINEERING CORP
  • CO WORKS-ACQUISITION OF ASSETS OF ENGINEERING DIVISION OF BHILAI ENGINEERING CORPORATION
  • Why Ganesh Benzoplast Could Be an Interesting Bet?
  • Watch: https://youtu.be/nsVqc1Ucqq8
  • Quick Insights:
  • Significant Stock Price Decline: The stock price of Ganesh Benzoplast has fallen considerably due to an internal family feud among promoters and allegations of loan fraud.
  • Credit Rating Insights: A recent credit rating report suggests that the claims related to the loan fraud are unlikely to materialize, as some lenders have already withdrawn their claims, indicating the weakness of these allegations.
  • Change in Management: The management personnel involved in the fraudulent activities are no longer associated with the company, although they still hold shares. This ownership stake remains a critical factor to monitor.
  • Capex and Future Growth: The company is currently undergoing capital expenditure, with benefits expected to start reflecting from the third quarter onwards.
  • Attractive Valuation: Presently, the stock trades at a price lower than what was paid by notable investors like Mr. Anil Kumar Goel, Malabar India Fund, and even the promoters during the last fundraise.
  • Key Events to Watch: Investors should keep an eye on the execution of the company's capex plans and the resolution of the ongoing promoter feud, as these will be pivotal in determining the company's future trajectory.
  • Vishwaraj Sugar to consider
  • proposal for the purchase of land from the Promoter & Promoter Group on 16th Oct
Panchkarma