Sensex, Nifty end flat post lackluster trade; Syrma soars 42%, Titan 3%

CLOSING BELL: It was a range-bound trade on the bourses on Friday as investors awaited US Fed chief Jerome Powell's address at the Jackson Hole Symposium later tonight

11:04 AM

Sebi approval not needed for buying NDTV shares: Adani Enterprises

Says any subsequent attempt to return money received or original warrant certificate will have no legal effect on exercise of warrants by VCPL. Read here

10:55 AM

China's recovery wobbles as drought, global slowdown add to risks

China's economy continued to recover in August but warning signs are flashing across a number of fronts as drought and weaker global demand add new risks to growth prospects. Read more

10:44 AM

EXPERT COMMENT | Syrma SGS long-term buy

Syrma SGS Technology Ltd has debuted at Rs. 260 i.e. 19% above its issue price. The company’s good listing can be attributed to positive market sentiments, outstanding prospects, and a good response from the investors. 

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.

The company’s geographically diversified manufacturing locations and the business model which starts from product concept design & focuses on every segment of the overall industry value chain give them a competitive advantage over other players. 

The issue was priced at a P/E of ~65X (Based on the Restated Consolidated Financial Information, RHP).  However, we believe that the company deserves this premium multiple due to its phenomenal growth prospects.

Those who applied for listing gains can maintain a stop loss of Rs. 225. New investors can buy for the long term and existing investors are recommended to stay invested in the company.

Views by Santosh Meena, Head of Research, Swastika Investmart

10:35 AM

Surya Roshni surges 14% on healthy business outlook

As the company's major sales comes from rural, semi urban & exports; Going forward, the management expects home appliances and pipe segments to perform well back by various government initiatives. Read more

10:24 AM

Nelco up 10% on pact with Intelsat to offer inflight connectivity in India

Nelco has been offering the Aero IFC services for more than two years with plans to introduce these services to more airlines in collaboration with its global partners. Read here

10:17 AM

Animal spirits? Chris Wood surprised by resilience of Indian stock market

Further evidence of economic resilience and animal spirits, according to Wood, is continuing strong goods and services tax (GST) revenues and buoyant retail sales. Read here

10:07 AM

NEW LISTING :: Syrma SGS Technology lists at Rs 262 on the BSE

>> Lists at Rs 260 apiece on the NSE

>> Issue price was Rs 220

10:00 AM

Buy Cochin Shipyard, Sell Larsen & Toubro, suggests Mehul Kothari

According to the technical analyst from Anand Rathi, Cochin Shipyard can rally to Rs 390, whereas Larsen & Toubro can slip to Rs 1,800-level. Read more

 

9:50 AM

IDBI Bank races 3.6%; bad loan recovery worth $2.4 bn likely

IDBI Bank Ltd.’s chief executive officer said the lender is likely to recoup 195 billion rupees ($2.4 billion) on soured debt in his pitch to potential buyers amid India’s planned auction of the firm. Read here

9:45 AM

Infibeam edges 3% higher on board's nod to raise Rs 162 crore

9:43 AM

RBL Bank under pressure on profit booking; snaps 3-day gains

9:40 AM

Eicher Motors slips 2% after CFO's resignation

The company’s Chief Financial Officer and key Managerial Personnel Kaleeswaran Arunachalam has tendered his resignation and his last date would be September 2, 2022. 

9:37 AM

Torrent Pharma edges higher on ICRA rating upgrade

Credit ratings agency ICRA has upgraded long-term credit rating of banking facilities and non-convertible debentures of the company to ‘stable’ from ‘positive’ on strong business position and scheduled repayment of debt. 

9:34 AM

Goa Carbon adds over 4%; co resumes ops at Bilaspur unit

The company has resumed operations at the Bilaspur unit in Chattisgarh after it was temporarily shut down for maintenance work. 

 

9:31 AM

Nelco surges 10% on inking pact with Intelsat for inflight services

The satellite company has inked a pact with Intelsat to provide inflight connectivity services. As part of the collaboration, Intelsat's airline partners and flyers will enjoy end-to-end broadband coverage on domestic and international aircraft flying to and from an Indian airport as well as the aircraft flying over the country.