Banks, Metals, Capital Goods lift Sensex 213 pts; Adani Group shares slip

CLOSING BELL ON AUGUST 23, 2023: The NSE Nifty 50 ended with a gain of 48 points; Shares related to Chandrayaan-3 mission were also in demand on Wednesday.

10:43 AM

Comment :: Should you hold or sell TVS Supply after tepid debut?

Given that this IPO's subscription was lower than that of some recent IPOs, the listing is respectable—even above expectations. Although TVS Supply Chain Solutions is a leading supply chain management company, it operates in a highly competitive industry and has reported losses in the past two years. Additionally, the valuation of the IPO was also very high.

 

We suggest investors book profits after listing at such a higher level. Those who still want to hold should maintain a stoploss at the IPO price.

Views by: Anubhuti Mishra, Equity Research Analyst at Swastika Investmart

10:33 AM

ALERT :: Hinduja Global arm launches CelerityX to offer digital solutions for enterprise customers

>> India's fourth largest private Internet Service Provider ONEOTT iNTERTAINMENT Limited, the broadband subsidiary of Hinduja Global Solutions (HGS) announced that it is foraying into the fast-growing enterprise solutions segment in India.

>> The new brand – CelerityX offers a portfolio of bespoke digital solutions for enterprise customers of any scale or strength.

>> The brand offers a comprehensive suite of enterprise solutions, including cutting-edge Broadband over Satellite (BoS), Fiber, and 5G MESH networks, as well as zero-touch digitally enabled industry solutions, across on-premises, cloud, and platform economy environments.

Click here for more

10:23 AM

Stationery maker Doms files draft papers for $145 mn IPO with Sebi

Milan-listed FILA Fabbrica Italiana Lapis ed Affini SpA, which holds a 51% stake in the company, is selling shares worth 8 billion rupees. Doms, which competes with Kokuyo Camlin, Linc and Pidilite Industries, aims to use proceeds from the fresh issue of shares to partly finance the cost of setting up a new manufacturing facility, it said. READ MORE

10:12 AM

Market Check :: More than 20 stocks slip into red as index drops around 100 pts

10:02 AM

New Listing :: TVS Supply lists at Rs 206 on the BSE, slips thereafter

>> Stock listed at Rs 207 on the NSE; hits a low of Rs 200

>> Issue price was Rs 197 per share

9:55 AM

Comment :: 'Global, domestic macro developments not impacting the broader market'

A significant feature of the market trend is the outperformance of the broader market. While the Nifty is up 7.13% YTD, the Mifty Midcap and Nifty Smallcap indices are up 22.33% and 21.80% respectively YTD. The global and domestic macro developments and news are impacting the Nifty but not the broader market indices.

Lot of institutional and retail money is chasing mid and small caps. But the valuations of these segments are becoming a bit concerning. Investors have to be careful while chasing low-priced stocks in the broader market, particularly the small-cap segment.

 

Investors may wait and watch for new data expected this weekend from the US. Since the dollar index and the US bond yields remain high, FIIs will not be strong buyers in the market. They have been sellers in the cash market  in twelve of the last fifteen trading days this month.

Views by: V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

9:49 AM

ALERT :: TVS Supply settles 5% higher in pre-open session

>> TVS Supply Chain Solutions eyes likely listing at Rs 206 on the BSE vs issue price of Rs 197

9:46 AM

BHEL down 1% after 11% rally on Tuesday

>> BHEL surged 11% yesterday on Rs 4,000-crore ordr win from Adani Power arm

9:44 AM

Netweb Technologies holds gains as 1-month lock-in period expires today

9:42 AM

BEML bags Rs 101-crore order from Ministry of Defence; stock up 3%

>> The company bagged an order worth Rs 101 cr from Ministry of Defence for supply of command post vehicles.

9:41 AM

Linde India receives LoA from Indian Oil; stock leaps over 5%

>> The company received an LoA from IOCL for setting-up of Air Separation Unit for production and supply of instrument air, plant air and cryogenic nitrogen to IOCL Panipat Refinery Expansion Project. On completion, it will operate and maintain the facility for a period of 20 years. The company will fund the capital expenditure by using internal accruals

 

9:39 AM

Hindalco jumps 3% as Co mulls Rs 2,000-cr capex

>> The company plans to invest Rs 2,000 crore to establish a copper and e-waste recycling facility, chairman, Kumar Mangalam Birla told shareholders at the company's annual general meeting on Tuesday.

9:36 AM

CLSA upgrades Crompton Greaves to 'Buy' post its Management Meet

>> CLSA upgrade Crompton Greaves Consumer Electricals to 'Buy' from 'Outperform'; target raised to Rs 365 from Rs 300

9:33 AM

Brightcom Group hits 5% lower circuit as Sebi bars chairman from dealing in markets

>> The Securities and Exchange Board of India (Sebi) has barred media company Brightcom Group's chairman SK Reddy from dealing in the securities market and has also restricted him from holding director post in any listed company for alleged irregularities

9:31 AM

Vodafone Idea plans clearance of dues worth Rs 2,400 crore; stock up 2%

>> The debt-ridden telecom operator plans to clear about Rs 2,400 crore of dues to the government by September, sources privy to the development told PTI. The company will clear dues for the June 2023 quarter and spectrum instalment with applicable interest by September, the source said.