Published on: January 2, 2025
Shares of Transrail Lighting, Dhani Services, Eicher Motors, Welspun Enterprises, and Majesco (PP) reached fresh 52-week highs during Thursday's trading on the NSE. The benchmark NSE Nifty surged by 445.75 points, closing at 24,188.65, driven by gains in key bluechip stocks.
However, stocks such as Jai Corp, Filatex Fashions, Salasar Techno Engineering, Utkarsh Small Finance Bank, and Barbeque-Nation Hospitality marked their new 52-week lows.
In the Nifty 50 index, Eicher Motors, Bajaj Finserv, Bajaj Finance, Maruti Suzuki, and Shriram Finance led the gains, while Sun Pharma, Britannia, Dr. Reddy’s, HDFC Life, and ICICI Bank ended in the red.
The BSE Sensex closed 1,436.3 points higher at 79,943.71, with sectors such as General, IT Enabled Services, Auto, and NBFC seeing buying interest.
Published on: January 2, 2025
Jefferies Equity Research has raised its target price for Larsen & Toubro (L&T) to Rs 4,600, citing a potential upside of 25.11% from its previous close. This upgrade follows the company's robust order book, which stands at 3.2 times its core Engineering and Construction revenue for fiscal 2024, and better visibility on government infrastructure spending post-Maharashtra elections.
The brokerage also highlighted healthy client collections, improved working capital, and L&T’s continued focus on execution and balance sheet strength. With its green portfolio now contributing 50% of revenues, L&T is well-positioned to attract ESG-linked investments.
Jefferies also raised L&T's valuation multiple to 18x EV/EBITDA for fiscal 2027, citing strong growth potential. The company’s focus on domestic projects, including its green energy initiatives, and its success in asset monetisation, such as the sale of L&T IDPL, are expected to further bolster its financial position.
Published on: January 2, 2025
CSB Bank Ltd.'s shares rose over 6% on Thursday after the bank reported strong year-on-year growth in key business metrics. The bank’s total deposits increased by 22.17%, with term deposits growing by 28.10%, from Rs 19,802 crore in December 2023 to Rs 25,365 crore in December 2024.
Advances against gold and gold jewellery also saw impressive growth of 36.28%, reaching Rs 13,018 crore from Rs 9,554 crore. The bank's gross advances grew by 26.54%, amounting to Rs 28,914 crore compared to Rs 22,867 crore in December 2023.
Despite a 21.74% drop in the last 12 months, the stock saw a positive market reaction, with all six analysts tracking CSB Bank maintaining a 'buy' rating. The average 12-month price target suggests a potential upside of 24.4%.
Published on: January 2, 2025
Kotak Mahindra Bank is betting big on the SME segment to fuel its growth in the coming years, as the Indian economy is expected to accelerate towards a $7-8 trillion market size. The bank's wholesale banking head, Paritosh Kashyap, highlighted that SMEs will be the engine of growth, and Kotak aims to grow alongside these high-potential businesses.
The SME segment currently contributes 30% of India’s GDP, and Kotak plans to leverage digital technology to streamline credit decisions and improve customer service.
Although the SME loan book accounts for only 8% of total advances, it is the fastest-growing segment for the bank. Despite strong demand for credit in sectors like infrastructure and renewable energy, the banking sector faces challenges from irrational loan pricing, which is squeezing profit margins.
Kotak also sees significant demand for incremental capex in traditional manufacturing and infrastructure projects, driving growth within the SME space.
Published on: January 2, 2025
In Thursday's trading session on the National Stock Exchange, Bajaj Finance (Rs. 2308.65 crore), RIL (Rs. 1911.49 crore), Tanla Platforms (Rs. 1898.12 crore), and several others dominated the list of most-traded securities.
The NSE Nifty index surged 445.75 points to close at 24,188.65, while the BSE Sensex saw a significant rise of 1,436.3 points, ending at 79,943.71. Among the top gainers on the Nifty were Eicher Motors (up 8.66%), Bajaj Finserv (up 7.89%), Bajaj Finance (up 6.55%), Maruti Suzuki (up 5.65%), and Shriram Finance (up 4.85%).
On the flip side, top losers included Sun Pharma (down 0.64%), Britannia (down 0.15%), Dr. Reddy's (down 0.45%), HDFC Life (down 0.48%), and ICICI Bank (down 0.55%).
Published on: January 1, 2025
News Content:
The Indian stock market began the new year on a positive note, with benchmark indices Sensex and Nifty 50 rising over half a percent each on the back of strong performances by heavyweights such as HDFC Bank, Larsen & Toubro (L&T), and Mahindra & Mahindra (M&M).
Market Performance
Sensex:
The Sensex opened at 78,265.07, up from its previous close of 78,139.01. It surged 617 points to touch a high of 78,756.49 before settling 368 points (0.47%) higher at 78,507.41.
Nifty 50:
The Nifty 50 opened at 23,637.65 and recorded an intraday high of 23,822.80 and a low of 23,562.80, eventually closing 98 points (0.41%) higher at 23,742.90.
Sectoral Highlights
Broad-based buying was seen across most sectors, with BSE Midcap and Smallcap indices climbing 0.50% and 1.03%, respectively.
Top Performing Sectors:
Nifty Auto: Up 1.34%.
Nifty Media: Up 0.81%.
Consumer Durables: Up 0.77%.
Bank indices also gained:
Nifty Bank: Up 0.39%.
Private Bank Index: Up 0.46%.
PSU Bank Index: Slightly up by 0.09%.
Underperforming Sectors:
Nifty Realty: Down 1.11%.
Nifty Metal: Down 0.12%.
Market Capitalisation Boost
The overall market capitalisation of BSE-listed companies rose from ₹442 lakh crore to ₹444 lakh crore, adding ₹2 lakh crore to investors' wealth in a single session.
Expert Insights
Vinod Nair, Head of Research at Geojit Financial Services, highlighted the positive sentiment driven by Q3 earnings optimism, robust core sector data, and expectations of increased government capex spending.
Ajit Mishra, SVP-Research at Religare Broking, noted that the Nifty 50 is in a consolidation phase. He recommends a stock-specific strategy, with stronger momentum counters as a focus.
Outlook for Nifty 50
The 23,850-23,900 resistance zone, coinciding with the 200-day moving average (DMA), remains a critical level for Nifty to surpass for a bullish reversal. On the downside, support lies at 23,560.
Conclusion
With the market showing signs of resilience and optimism, the focus now shifts to upcoming Q3 earnings and macroeconomic cues to sustain the recovery. Investors are advised to approach the market with caution while capitalizing on sector-specific opportunities.
Published on: December 31, 2024
Auto sales are set to close 2024 on a slow note, continuing the trend of sluggish performance observed throughout the year. Despite expectations of a "better than usual" December, aided by a favorable base effect and weaker sales earlier in the fiscal, most segments—except commercial vehicles—are expected to see subdued sales growth.
Mahindra & Mahindra, Eicher Motors, and Escorts Kubota are poised for positive growth, while companies like Maruti Suzuki, Tata Motors, and Hero MotoCorp are likely to experience a decline.
The two-wheeler segment, despite strong FY25 growth, is expected to slow, with Hero MotoCorp forecasting a 6% drop in sales. Eicher Motors, benefitting from a favorable base, is likely to see the highest growth, while carmakers, especially Maruti and Tata Motors, are expected to have a forgettable month.
owever, Mahindra's SUV demand and recent electric vehicle launches are expected to drive growth going into FY26. Commercial vehicles are likely to see strong month-on-month growth, driven by higher demand due to rising construction activities.
Meanwhile, the tractor segment is expected to see steady growth, particularly in Northern India, benefiting companies like Escorts and M&M.
Published on: December 31, 2024
Hindustan Unilever Ltd. (HUL) has concluded its agreement with Jagatjit Industries Ltd. for the manufacturing and supply of malted milk food products, including Boost and Horlicks, at its facility in Jagatjit Nagar, Punjab.
The agreement, which expired on December 31, 2024, will not be renewed. However, both companies will continue their partnership for the supply of malt extract. Jagatjit Industries, confident in its advanced manufacturing capabilities, plans to independently produce malted milk food products and is exploring new business opportunities.
The company is expanding its production of Malt Spirit, which is seeing strong demand, and is also preparing to launch commercial ethanol production from its 200 KLPD grain-based plant, expected to boost its revenue and profitability. Following the announcement, Jagatjit shares rose 17.16% over the past year, while HUL shares declined by 12.65%.
Published on: December 31, 2024
Adani Green Energy Ltd., through its wholly owned subsidiary Adani Renewable Energy Holding Nine Ltd., has incorporated three new wholly owned subsidiaries: Adani Green Energy Sixty Five Ltd., Adani Green Energy Sixty Six Ltd., and Adani Green Energy Sixty Seven Ltd.
These subsidiaries, each with a share capital of 1 lakh, are focused on generating, developing, transforming, distributing, transmitting, and selling energy derived from renewable sources like wind and solar.
This move follows the authorization of a 250 MW solar project at Badi Sid in Rajasthan by Adani Green’s step-down subsidiary. After the commissioning of the new plant, the company’s total operational renewable capacity stands at 11,434 MW.
The share price of Adani Green Energy closed 6.09% higher at Rs 1,217.95, showing a potential upside of 61.4%, according to analysts’ 12-month consensus targets.
Published on: December 31, 2024
Shares of Adani Group companies saw a strong performance on Thursday, with all stocks in the green in the final trading hours. Adani Green Energy Ltd. led the gains, surging 4%, while Adani Ports and Special Economic Zone Ltd. and Adani Energy Solutions Ltd. saw gains of over 3%.
The group’s 11 listed stocks collectively added Rs 32,067 crore to investors' wealth, pushing their combined market cap to Rs 12.61 lakh crore. This rally follows the milestone of the 100th commercial vessel docking at Vizhinjam port in under six months, a key achievement highlighted by Karan Adani, MD of Adani Ports.
The Sensex remained flat at 78,988.05, and Nifty rose by 0.08% during the final hour of trading. Adani stocks, including Adani Power and Ambuja Cements, also posted solid gains.
Published on: December 31, 2024
Tata Power Co. reported a fire breakout at a 500-MW unit at its Trombay Plant on Monday, although no injuries or loss of life were reported. The company is investigating the incident and working to restore normal operations, but has not provided specifics on whether the fire has been fully contained.
This is the first fire at the Trombay plant in over a decade, with the last incident occurring in January 2014. Despite the fire, Tata Power’s stock rose by 4.36% during the day, reaching Rs 474.25 per share, after Motilal Oswal initiated a 'Buy' rating for the company.
The stock closed 3.15% higher at Rs 468.75. Tata Power has seen a remarkable 82.46% increase in stock value over the past year, and 41.92% growth this year. Additionally, the company’s subsidiary, Tata Power Renewable Energy Ltd., received a significant contract for a 400 MW wind-solar hybrid project in Maharashtra.
Published on: December 31, 2024
Shares of Rail Vikas Nigam Ltd. (RVNL) rallied 4.6% to Rs 427.90 on Tuesday after the company announced it was the lowest bidder for a Rs 137.16 crore project from Central Railway.
The project involves the design, supply, erection, testing, and commissioning of 132/55 KV Traction Substations and related infrastructure for the Bhusaval-Khandwa Sections, aiming to meet a 3000 MT loading target.
RVNL plans to complete the project within 12 months. Despite this recent surge, RVNL shares have seen significant growth over the past year, with a 125% rise, but the stock has declined by about 23% over the last six months.
On the technical front, RVNL is currently trading below its major exponential moving averages and is near a mid-range level on the relative strength indicator (RSI). The stock closed at Rs 409.10, up 3.38% on the day.
Published on: December 31, 2024
Shares of Divi's Laboratories Ltd. rose by 0.49% to Rs 6,089.70 on Tuesday, marking a high of Rs 6,100 and a low of Rs 5,978.70. The stock's technical indicators show bullish momentum, as it trades above both its 50-DMA of Rs 5,927.39 and its 200-DMA of Rs 4,886.68, suggesting an upward trend.
The MACD also reflects a positive bias, signaling potential trend reversal. Meanwhile, in the broader market, the Nifty Pharma index closed higher with notable gains in Aurobindo Pharma Ltd. (up 2.79%) and Laurus Labs Ltd. (up 2.61%).
On the other hand, the power sector saw strong performances, with NLC India Ltd. (up 6.15%) and Torrent Power Ltd. (up 5.44%) among the top gainers. The domestic benchmark indices, NSE Nifty and BSE Sensex, ended the session with minor changes, closing at 23,644.8 and 78,139.01, respectively.
Published on: December 31, 2024
Anthem BioScience Ltd. has filed its preliminary papers with the Securities and Exchange Board of India (SEBI) to raise Rs 3,395 crore through an initial public offering (IPO). The offer will be entirely an offer for sale (OFS), with promoters Ganesh Sambasivan and K Ravindra Chandrappa, along with investors Viridity Tone LLP and Portsmouth Technologies LLC, among the shareholders offloading their shares. Other individuals, including Malay J Barua and Rupesh N Kinekar, will also participate in the sale.
The IPO aims for a listing on the National Stock Exchange and the Bombay Stock Exchange. Anthem BioScience, a Bengaluru-based contract research, development, and manufacturing firm, has developed various drug discovery and manufacturing platforms such as RNA interference, peptides, and antibody-drug conjugates.
The company, founded in 2006 by Ajay Bhardwaj, competes with major Indian API manufacturers. JM Financial, Citigroup, J.P. Morgan, and Nomura are the lead managers for the issue, with KFin Technologies serving as the registrar.
Published on: December 31, 2024
Jupiter Wagons Ltd. has raised its stake in subsidiary Jupiter Electric Mobility Pvt. from 60% to 75% through the preferential issuance of additional equity shares and the transfer of shares. As part of the acquisition, Jupiter Wagons subscribed to 3,340 equity shares at a face value of Rs 10 each, with a premium of Rs 90 per share, totaling Rs 3,34,000.
he company also acquired 665 shares at Rs 66,500. This increase in shareholding falls under a related party transaction, for which necessary approvals have been obtained.
Jupiter Electric Mobility, founded in November 2021, specializes in electric trucks and energy storage solutions. For fiscal 2024, the company reported a turnover of Rs 32.54 lakh. Jupiter Wagons’ stock rose 3.14% to Rs 500.95 on Tuesday, with analysts projecting a 9% potential upside based on the 12-month price targets.