Mutual Funds Sahi Hai!
To avail the service, you will be redirected to loans.geojitcredits.com
At 09:30 IST, the barometer index, the S&P BSE Sensex shed 4.27 points or 0.01% to 84,911.46. The Nifty 50 index lost 5.90 points or 0.02% to 25,934.50.
In the broader market, the S&P BSE Mid-Cap index shed 0.16% and the S&P BSE Small-Cap index rose 0.20%.
The market breadth was positive. On the BSE, 1,682 shares rose and 1,173 shares fell. A total of 120 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 2,784.14 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 3,868.31 crore in the Indian equity market on 24 September 2024, provisional data showed.
Stocks in Spotlight:
Zee Media Corporation zoomed 14.41% after the company said that its board will meet on 27 September 2024 to consider raising finds through various instruments by way different methods.
HDFC Life Insurance Company shed 0.22%. The company’s board has approved the raising of Rs 2,000 crore through NCDs.
Delta Corp surged 7.62% after the company’s board approved the demerger and listing of hospitality and real estate business into Delta Penland. Shareholders will receive one share of Delta Penland for every share held in Delta Corp.
Numbers to Track:
The yield on India's 10-year benchmark federal paper shed 0.23% to 6.860 as compared with previous close 6.876.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.5575, compared with its close of 83.6300 during the previous trading session.
MCX Gold futures for 4 October 2024 settlement rose 0.25% to Rs 75,865.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.19% to 100.27.
The United States 10-year bond yield grew 0.05% to 3.740.
In the commodities market, Brent crude for November 2024 settlement lost 21 cents or 0.28% to $74.96 a barrel.
Global Markets:
Most Asian stocks extended gains on Wednesday, buoyed by China's expansive stimulus package and a strengthening yuan. The rally, which began the previous day, was fueled by the People's Bank of China's announcement of measures aimed at supporting the economy and financial markets.
In the United States, the S&P 500 (+0.25%) reached a new all-time high Tuesday, shrugging off concerns about weak consumer confidence. Nvidia's shares surged 4% following news that CEO Jensen Huang had completed his stock sales.
The Dow Jones Industrial Average (+0.20%) and Nasdaq Composite (+0.56%) also recorded gains.
US consumer confidence suffered its biggest one-month decline in more than three years, hitting 98.7 for September. The data follows a warning from JPMorgan Chase CEO Jamie Dimon about increasing geopolitical instability cast a shadow over the positive market sentiment. Dimon expressed concerns that these geopolitical tensions could impact the global economy.
Aditya Birla Fashion and Retail (ABFRL), Granules India, Hindustan Copper, Vodafone Idea, India Energy Exchange (IEX).
Stocks to watch:
Multi Commodity Exchange of India (MCX) has revised its transaction fees on futures and options contracts effective from 1 October 2024. Futures contracts to see a transaction fee of Rs 2.10 per lakh of turnover value and for options contracts Rs 41.80 per lakh of premium turnover value.
HDFC Life Insurance Company's board approved the raising of Rs 2,000 crore through NCDs.
Delta Corp board approved the demerger and listing of hospitality and real estate business into Delta Penland. Shareholders will receive one share of Delta Penland for every share held in Delta Corp.
Gillette India’s distributor, P&G Bangladesh terminated the distribution agreement effective from 31 December 2024. The company will have the impact of the proportionate drop in net sales. Net sales under the agreement accounted for 2% of total net sales.
Mazagon Dock Shipbuilder commenced the production activity for the first multi purpose cargo vessel for Navi Merchants, Denmark.
PC Jeweller board to consider a stock split on 30 September 2024.
Hariom Pipes board approved raising up to Rs 700 crore via equity or other securities.
Zee Media board will meet on 27 September 2024 for fundraising.
In a regulatory filed with the bourses today, the company said that it has secured the occupancy certificate (OC) for the F-wing of its 'Atmosphere O2' project located at Mulund West, Mumbai. The OC has been received within nearly 3.5 years of the launch of the project.
The Atmosphere O2 project spans nearly 7.2 lakh square feet of RERA carpet area and 18.6 lakh square feet of construction area, featuring three 47-storey residential towers and an 18-storey commercial tower.
The project, with a revenue potential of about Rs 1,650 crore, is almost sold out and has made a total collection of about Rs 1,475 crore as of Sep-24 from its bookings.
Manan Shah, managing director of MICL Group, said: 'The swift sellout of such a large project before the OC is a testament to the trust our customers have in MICL's quality and timely delivery.
Atmosphere O2 reaffirms our leadership in execution, sales and our commitment to exceeding customer expectations.'
Man Infraconstruction (MICL Group) (MANINFRA) has two business verticals viz., construction and real estate development. MANINFRA is an integrated EPC (engineering, procurement and construction) company with nearly six decades of experience and execution capabilities in port, residential, commercial & industrial and road construction segments with projects spanning across India.
The company reported 19.99% decline in consolidated net profit to Rs 65.27 crore on 56.38% fall in net sales to Rs 296.74 crore in Q4 FY24 over Q4 FY23.
HDFC Life Insurance Company Ltd is up for a third straight session today. The stock is quoting at Rs 723.5, up 1.74% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.3% on the day, quoting at 25867.5. The Sensex is at 84684.03, up 0.17%. HDFC Life Insurance Company Ltd has slipped around 0.3% in last one month.
Meanwhile, Nifty Financial Services index of which HDFC Life Insurance Company Ltd is a constituent, has slipped around 6.42% in last one month and is currently quoting at 24789.2, up 0.4% on the day. The volume in the stock stood at 14.92 lakh shares today, compared to the daily average of 37.59 lakh shares in last one month.
The benchmark September futures contract for the stock is quoting at Rs 723.15, up 1.62% on the day. HDFC Life Insurance Company Ltd is up 12.68% in last one year as compared to a 31.48% jump in NIFTY and a 25.43% jump in the Nifty Financial Services index.
The PE of the stock is 93.89 based on TTM earnings ending June 24.