Buy Spandana Sphoorty Financial, target price Rs 780: ICICI Securities
Spandana Sphoorty Financial Ltd., incorporated in the year 2003, is a Mid Cap company (having a market cap of Rs 4444.45 Crore) operating in NBFC sector.<
Spandana Sphoorty Financial Ltd., incorporated in the year 2003, is a Mid Cap company (having a market cap of Rs 4444.45 Crore) operating in NBFC sector.<
As of August 29, futures open interest for 4 stocks in the NSE F&O segment saw a significant rise, driving a total open interest increase of over 10% from the previous trade.
FSN E-Commerce Ventures Ltd., incorporated in the year 2012, is a Small Cap company (having a market cap of Rs 61516.17 Crore) operating in Services sector.
Delhi residents experienced traffic chaos due to severe water-logging following heavy rains. Key areas including Dhaula Kuan, MB Road, Rohtak Road, and Outer Ring Road faced major congestion. Delhi Traffic Police issued advisories for affected routes. The Regional Meteorological Centre has issued alerts for various parts of the capital.
Ujjivan Small Finance Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2024.
On August 28, five stocks from the Nifty200 pack appeared in the RSI Trending Up scan, according to the stockedge.com data.
Persistent Systems Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 76947.98 Crore) operating in IT Software sector.
Indian benchmark equity indices opened slightly lower on Thursday, impacted by declines in auto and IT stocks. The BSE Sensex was down 63 points at 81,721, while the Nifty50 fell 21 points to 25,031. Key sectoral indices such as Nifty IT and Nifty Metal also saw losses. Investors are closely watching U.S. economic indicators for clues on rate easing plans.
Cyient Ltd., incorporated in the year 1991, is a Mid Cap company (having a market cap of Rs 22189.86 Crore) operating in IT Software sector.
On August 28, the closing prices of five stocks from Nifty500 dropped by more than 3% relative to the VWAP, and a shift below the VWAP suggests a potential bearish tren.
Shares of InterGlobe Aviation, which operates IndiGo Airlines, fell 3% to Rs 4,714.90 after co-founder Rakesh Gangwal sold 2.3 crore shares (6% equity) at Rs 4,760 each, totaling Rs 11,000 crore. The official sellers remain undisclosed. The stake sale amount was revised from Rs 6,750 crore.
The Rajasthan Government, led by Chief Minister Bhajanlal Sharma, has approved several key decisions for state employees. These include increasing gratuity and death gratuity limits, extending family pension benefits, amending medical care rules, and providing relief for clerical staff, drivers, and Class IV court employees regarding promotions. Additionally, land allocation for the Nathdwara-Devgarh-Madaria railway project was approved.
On August 28, the closing prices of five stocks from the Nifty500 pack rallied over 1% relative to the VWAP, and a shift above the VWAP suggests a potential bullish trend.
Pavel Durov, founder of Telegram, has been arrested in France for not addressing illegal content on the app. Additionally, he faces a separate investigation for alleged violence against his son. This comes after his ex-partner filed complaints last year in Switzerland detailing various violent incidents between 2021 and 2022.
Maruti Suzuki India Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 388522.98 Crore) operating in Auto sector.
HCL Technologies Ltd., incorporated in the year 1991, is a Large Cap company (having a market cap of Rs 466601.14 Crore) operating in IT Software sector.
To maintain a premium valuation, a stock must demonstrate strong earnings growth and a positive future outlook. However, the June quarter results revealed that several prominent companies, including popular retail multibaggers, fell short in terms of earnings. ETMarkets reviewed companies with an m-cap of at least Rs 5,000 crore and identified 13 entities that reported at least a 25% YoY decline in sales and profit.
State-owned companies PFC and OIL, among others, are in focus as they approach their record date for dividend payouts on August 30. PFC announced an interim dividend of Rs 3.25 per share, while OIL declared a dividend of Rs 2.50 per share. Various other listed companies will begin trading ex-dividend starting Friday.
The strategy focuses on generating alpha during both rising and falling markets through sophisticated derivative and hedging strategies, ensuring stability and protection against market downturns.
Brokerage firms UBS, Jefferies, Citi, and Investec have offered varied ratings on Indian stocks. UBS and Jefferies give Paytm neutral and hold ratings, citing regulatory progress. Citi maintains a buy call on Vodafone Idea. Investec starts coverage on Jana Small Finance Bank with a buy rating, expecting strong earnings growth.
Weather Update News: The India Meteorological Department has issued warnings of heavy rainfall across northwest and central India and northern peninsular India. Gujarat, Maharashtra, and Rajasthan have already experienced torrential rains. Potential localized flooding and travel disruptions are expected. Tripura and Vadodara face severe flooding issues, while Delhi continues to receive substantial rainfall.
"A search operation was launched by security forces in the general area of village Kheri Mohra Lathi and Danthal in Rajouri district at 2130 hours on Wednesday night (following suspected terrorist movement)," a police spokesperson said.
Nvidia's chip demand is surging as nations create AI models in their own languages. This development includes governments aiming to strengthen national security with customized AI models and infrastructure. Countries' movements are expected to significantly contribute to Nvidia's revenue, projecting around low double-digit billions by January 2025.