Titan Company, Apollo Hospitals, Dr Reddy’s Lab, Tata Consumer Products, and HCL Tech are the top gainers on NSE Nifty 5o index whereas the top laggards include BPCL, HDFC Bank, Shriram Finance, HDFC Life Insurance, and Tata Motors.

Shares of Olectra Greentech experienced a significant boost in Tuesday’s trading session, climbing 13% to reach a high of ₹1,742.00. This sharp increase follows the company’s positive Q1 earnings report. Year-to-date, the stock has risen by 24%, reflecting strong investor confidence and a positive outlook for the company’s performance.

LTIMindtree has received a tax demand of INR 624 million from the Department of Goods and Service Tax, Office of the Deputy Commissioner of State Tax, Mumbai, under Section 73 of the Maharashtra Goods & Services Tax Act, 2017. The demand, related to the fiscal year 2019-20, includes a penalty of INR 30 million along with applicable interest.

Several major stocks reached their 52-week highs on the NSE today. Western India Plywoods led the gains with a 20% increase, followed by Dynacons Systems, which surged 17.94%. Inox Wind saw a rise of 6.78%, while Fortis advanced by 5.19%. Suzlon rose by 2.90%, TVS Motor gained 2.28%, and Federal Bank was up by 1.72%.

KPI Green Energy shares hit the lower circuit limit of Rs 1,043.90 on the NSE, down by 5%, following the announcement of a Qualified Institutional Placement (QIP) on August 12. The floor price for the QIP has been set at Rs 983.24 per share.

Mahindra and Mahindra Financial Services has received a tax penalty order from the Uttar Pradesh Government, which has imposed a total penalty of Rs 0.99 crore. The penalty is primarily due to an alleged excess claim of GST input tax credit. Following the news, the company’s stock declined by 1.64% on the NSE, trading at Rs 293.85.

GR Infraprojects has received a Letter of Intent from REC Power Development and Consultancy for the establishment of a Rs 53.77-crore transmission scheme aimed at integrating the Tumkur-II Renewable Energy Zone (REZ) in Karnataka. Following the announcement, shares of GR Infraprojects were down by 1.06% on the NSE, trading at Rs 1,581.65.

Pace 360, has announced the launch of its new PMS strategy—Tresor Smart Alpha. The fund is being launched against the backdrop of Indian markets at all-time highs, with exuberance visible in the PE ratios and valuations of select sectors and stocks. An innovative strategy is essential in these polarizing markets, characterized by extreme overvaluations on one side and undervalued pockets on the other.

“We expect the rupee to trade between 83.60 and 84.10 in the near term. It may find support from a slowdown in unwinding of carry trades and easing US recession concerns, though rising oil prices could pose a challenge,” said Mihika Sharma, Associate Economist at CareEdge Ratings.

Shares of Deepak Nitrite fell 5.5% to an intraday low of Rs 2,850 from its previous close of Rs 3,015.65. The stock has a 52-week low of Rs 1,921.85, which it touched on October 23, 2024. The stock touched its 52-week high of Rs 3,169 on August 01, 2024. Shares of the company were the major losers in the Nifty Midcap 100.

“Saraswati Saree Depot has been a significant player in the B2B sarees wholesale market since 1966 and has expanded into the wholesale business of other women’s apparel as well. The company has consistently achieved sustainable growth in both revenue and profit. One of their successful strategies includes hosting “Utsav” events, where they showcase exclusive product collections and offer special offers. These events have contributed around 13-15% to annual sales. However, the saree wholesale industry, where the company currently operates, is highly competitive and fragmented. This sector typically operates on low margins and is also subject to seasonal fluctuations. Given these challenges, we recommend a “Subscribe with Caution” rating for this issue,” said Choice Broking in a research note.

The stock of Cipla rose 1.3% to touch a fresh 52-week high of Rs 1,606.70 from its previous close of Rs 1,586.25. The stock upper band for the stock is placed at Rs 1,744.85. More than 69% of the equity shares of the company are held by the public and almost 31% by the promoters.

Shares of Hindustan Copper rose 5.5% to an intraday high of Rs 319.50 from its previous close of Rs 302.75. The surge in stock price came after the company’s net profit rose more than two-fold to Rs 113 crore in Q1 FY25 from Rs 47 in Q1 FY24.

Shares of Gujarat Pipavav Port rose 8.8% to hit a new 52-week high of Rs 250.69 from its previous close of Rs 230.33. The upper band of the stock is placed at Rs 276.03. The stock’s 52-week low of Rs 115.55 on August 14, 2024.

HDFC Bank, Tata Motors, Power Grid Corp, Tata Steel, and Bajaj Finance were the major draggers of the Sensex on August 13.

Courtesy: BSE

Shares of Titan Company rose 2.5% to an intraday high of Rs 3,404.75 from its previous close of Rs 3,320.85. The stock is the top gainer in the Nifty 50. The stocks touched their 52-week high of Rs 3,886.95 on January 30, 2024.

The NSE Nifty 50 was down 62.35 points or 0.26% at 24,284.65, while the BSE Sensex was down 227 points or 0.28% at 79,422.35.

RVNL are trading with gains on Tuesday, following its inclusion in the MSCI India Index as part of the August review. This index is part of the MSCI Global Standard Index. Nuvama Alternative and Quantitative Research estimates that the rebalancing will trigger inflows of up to $219 million.

Global index provider Morgan Stanley Capital International (MSCI) has announced the lifting of the freeze on Adani Group stocks, a decision made amid ongoing scrutiny following allegations from Hindenburg Research.

Starting with the August 2024 Index Review, MSCI will introduce changes to the Number of Shares (NOS), Foreign Inclusion Factor (FIF), and Domestic Inclusion Factor (DIF) for Adani Group and related securities. These adjustments will take effect at the close of August 30 and will be fully implemented by September 2. MSCI also stated that it will resume the regular implementation of corporate events for these securities from September 2 onwards.

Unicommerce eSolutions made a stellar debut on the stock exchanges on August 13, listing at a 118% premium to its IPO price. The stock opened at Rs 235 on the NSE and R 230 on the BSE, significantly higher than its issue price of Rs 108. Investors who received allotments in the IPO are seeing substantial gains as the company’s shares surged on their first day of trading.

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Shares of HDFC Bank fell over 3.5% on Tuesday, making it the top contributor to the Nifty’s decline, following the latest MSCI rebalancing announcements. While India’s largest private sector lender was expecting an increase in weightage on the MSCI Global Standard index, the adjustment will occur in two phases instead of one.

Veefin Group of Companies has acquired Nityo Tech Pvt Ltd, the India arm of Nityo Singapore, to strengthen its position in leading digital transformation within the BFSI sector. Following the announcement, shares of Veefin Solutions rose by 1.82% on the BSE, trading at Rs 518.45.

Sundaram Finance reported a 7% increase in disbursements for the first quarter of this fiscal year, totaling Rs 6,908 crore. The company’s net profit for Q1FY25 rose by 9% to Rs 308 crore. Net interest income also saw a significant boost, rising 20% year-over-year. As of June 30, 2024, Sundaram Finance’s Gross and Net Non-Performing Assets (NPA) stood at 2.21% and 1.41%, respectively, compared to 2.96% and 2.00% as of June 30, 2023.

Shares of Rail Vikas Nigam (RVNL) surged over 4% in early trading on Tuesday, hitting Rs 601.75 per share on the Bombay Stock Exchange (BSE). This gain follows an 11% jump in the previous session, fueled by strong buying momentum in railway stocks.

Commenting on the gold and silver outlook Renisha Chainani, Head Research – Augmont – Gold For All said that Gold price jumped 1% towards a record high again amid risk-off sentiment. According to a White House spokesperson, Iran may conduct a significant strike on Israel this week, potentially disrupting ongoing Gaza peace talks set for August 15. Markets are anticipating US inflation data to determine if the Federal Reserve will raise interest rates, following a dismal employment report that sparked recessionary worries and increased bets on rate cuts.

Chainani also added that the US PPI is coming on Tuesday, followed by the US CPI on Wednesday, and could give new insights on the Fed’s policy path. Gold continues its uptrend and is expected to soon touch new highs above $2500 (Rs 71000).Come from Sports betting site

In the upcoming MSCI India Standard Index rebalancing announcement scheduled for August 30, several stocks are anticipated to be included. The potential additions to the index include Dixon Technologies, Vodafone Idea, Zydus Lifesciences, Oracle Financial Services (OFSS), KPIT Technologies, Rail Vikas Nigam Limited (RVNL), Oil India, and Cochin Shipyard.

Also Read: MSCI Rejig: HDFC Bank likely to see $1.8 billion inflows, Vodafone Idea, RVNL and 6 other stocks likely to be added

HDFC Bank, Tata Motors, Grasim Industries, BPCL, and HDFC Life were the major draggers of the Nifty 50.

Courtesy: NSE

Share s of OLA Electric rose more than 18% to hit a new all-time high of Rs 129.40 after hitting upper circuit for the last two consecutive sessions. The company was listed on the bourses on August 09, with a flat debut.

Unicommerce eSolutions was listed at Rs 235 on the National Stock Exchange, a premium of 118% to the issue price of Rs 108. 

The company raised a total of Rs 276.57 crore through entirely an offer for sale, which means promoters and other selling shareholders offloaded their stakes to the public. Furtnher, the shares of Unicommerce eSolutions were attracting a premium of 64% in the grey market. It is an unofficial place where shares change hands illegally ahead of listing.