Share Market HIGHLIGHTS: Sensex ends choppy session 63 pts higher, Nifty three pts shy of 21,650; TCS, Infy edge up ahead of Q3 results today
Share Market Today LIVE: Domestic equity benchmarks Nifty 50 and Sensex rose on Thursday tracking a rebound in their Asian peers, with investors awaiting quarterly results and a key US inflation reading for cues on interest rates. Catch minute-by-minute updates of all the action in the Indian share market today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.coms blog.
Share Market Today LIVE: rose on Thursday tracking a rebound in their Asian peers, with investors awaiting quarterly results and a key US inflation reading for cues on interest rates. TCS and Infosys are due to report quarterly results today, kicking off the earnings season in earnest.
Catch minute-by-minute updates of all the action in the Indian share market today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
Latest Updates
Share Market Today | Sensex ends choppy session 63 pts higher, Nifty 3 pts shy of 21,650; TCS, Infy edge up
Share Market Tips LIVE | Buy VPRPL, CIE Automotive shares, says Vikas Sethi
Vikas Sethi of Sethi Finmart recommends buying VPRPL shares for a target of Rs 230 with a stop loss at Rs 210. Besides, recommends buying CIE Automotive shares for a target of Rs 520 with a stop loss at Rs 480.
Share Market Today LIVE | Ajmera Realty & Infra India hits 52-week high after its operational update for Q3FY24
Ajmera Realty & Infra India shares gain by as much as 10.4 per cent to clock a 52-week high of Rs 521 apiece on Thursday after the announced its operational update for Q3FY24.
Key Highlights for Q3 FY24:
-Sales Area stood at 1,03,573 sq. ft, up 63 per cent YoY
-Sales Value stood at Rs 253 crores, up 98 per cent YoY
-Collections stood at Rs 151 crores, up 30 per cent YoY
-Secured a residential redevelopment project: Acquired residential redevelopment project in premium location of Versova in Mumbai, with potential development area of ~90,700 sq.ft. and GDV of ~Rs 360 crores
Share Market Today LIVE | Zomato to show muted business, stock performance this year, says HSBC; target raised
Brokerage HSBC has said it does not expect Zomato to repeat its 2023 performance in 2024, after the food delivery company has emerged profitable for two back-to-back quarters up to September 2023 and registered improvement in its EBITDA margin for four quarters. While retaining its ‘buy’ rating on Zomato, the foreign brokerage has raised its target for the stock by Rs 10 to Rs 150 per share. Yet, the stock has gained by as much as Rs 3.3, or 2.5 per cent, to a 52-week high of Rs 138 apiece on BSE. HSBC’s target implies an upside of 11.4 per cent from the previous close of Rs 134.7 apiece. Read more
Share Market Today LIVE | Mankind Pharma shares hit fresh 52-week high - Buy, Sell or Hold?
The share price of Mankind Pharma, the pharmaceutical and healthcare products company, surge over 5 per cent to hit its 52-high at Rs 2,260 on BSE. Mankind Pharma shares trade 3.31 per cent higher at Rs 2,221.6 on BSE.
According to Kunal Saraogi of Equityrush, investors should buy this pharma stock at every dip.
"There's a fresh breakout in the chart of Mankind Pharma. So we would advise investors to buy from a medium to long-term perspective. Investors should buy when there is some correction. Keep on accumulating the share whenever there is some dip in the price," Saraogi said. Read more
Share Market Today LIVE | SpiceJet to launch Lakshadweep, Ayodhya flights soon; shares fly
SpiceJet shares gain on Thursday after the company said it plans to start flights connecting Lakshadweep as it has exclusive rights for the archipelago Union Territory as part of the government’s regional connectivity drive. The airline also said it plans to connect Ayodhya with different cities soon. The stock of SpiceJet gain as much as 2.9 per cent to Rs 67.4 apiece on BSE, taking its surge to more than 10 per cent in three days and coming within Rs 2 of a 52-week high touched last month. Read more
Share Market Today LIVE | Coal India and GMDC trade mixed bag after coal minister Joshi reveals govt plan for coal gasification
Minister Pralhad Joshi, in exclusive conversation with Zee Business, said that the demand for electricity in India would double by 2030, the stocks of power companies such as Coal India and Gujarat Mineral Development Corporation (GMDC) are trading mixed bag on Thursday (January 11, 2024). Joshi told Zee Business that the demand for electricity in India would double by 2030.
Coal India shares trade 0.54 per cent higher at Rs 384 while the stock of the Gujarat Mineral Development Corporation (GMDC) trade 2.08 per cent at Rs 470.5 on NSE. Read more
Share Market Today LIVE | Senco Gold shares soar to record high after jewellery retailer posts highest ever Q3 revenue
Senco Gold shares rise to register an all-time high on Thursday after the jewellery retailer gave a strong business update for the October-December period. The stock of Senco Gold jumps by as much as Rs 114.6, or 15.6 per cent, to Rs 850 apiece on NSE, and by Rs 104.2, or 14.2 per cent, to Rs 840 apiece on BSE, continuing to gain for the third session in a row.
In a business update, released post-market hours on Wednesday, the company said it had achieved its highest-ever revenue for the October-December period, with a secular trend across geographies and channels.
The company saw an increase of almost 40 per cent in footfall while invoices grew six per cent. Despite rising gold prices, the jewellery maker's volume increased nine per cent in gold and 27 per cent in diamond jewellery, it said. Read more
Share Market Today LIVE | Morgan Stanley, Goldman Sachs see over 25% upside in Shriram Finance; stock hits an all-time high
Shriram Finance shares clocks an all-time high of Rs 2,284 apiece on BSE after brokerages Morgan Stanley and Goldman Sachs raised their respective target prices for the stock. Shares of Shriram Finance are up 4.5 per cent or Rs 96.85, at Rs 2247 apiece on BSE. The market capitalisation of the company stands at Rs 84,396.2 crore on NSE. Read more
Share Market Today LIVE | Bank of India stock jumps over 2% after its Q3 update shows increased domestic deposits and global business
Bank of India shares trade 2.54 per cent higher at Rs 121.15 after the lender said in a Q3 update that its domestic deposits Year-on-Year (YoY) in the quarter ended December 31 increased by 7.6 per cent. Read more
Share Market Today LIVE | Kalyani Steels shares soar to 52-week high; what is keeping investors hooked?
Kalyani Steels shares soar to a 52-week high on Thursday after the iron and steel product manufacturer emerged a successful bidder for the acquisition of the assets of Kamineni Steel & Power India. The stock of Kalyani Steels zoom by as much as Rs 59.3, or 11.4 per cent, to Rs 579 apiece on NSE, surpassing an existing 52-week peak of Rs 568.9 touched last week.
Kalyani Steels shares are up nine per cent at Rs 566.3 apiece, rising for a second straight session. The acquisition of assets is to be completed on or before May 7, 2024, the company said in a regulatory filing post-market hours on Wednesday. Read more
Share Market Today LIVE | Kamat Hotels touches 5% upper circuit as it reportedly set to open hotel in Ayodhya
Kamat Hotels clocks an upper circuit of 5 per cent after a Zee Business report says the company is getting boost from increased tourism in Ayodhya and was going to open a new hotel. The stock of the hotel chain trades higher by 5 per cent, or Rs 13.65, at Rs 286.90 on BSE. Zee Business, quoting sources, said that the company would get huge benefit due to increased tourism in Ayodhya due to the opening of Ram Mandir. Read more
Anil Singhvi Market Strategy | Important levels to track in Nifty50, Nifty Bank today
Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 21,550-21,600 levels and a strong buy zone at 21,450-21,500 levels on Thursday, January 11. For the Nifty Bank, he expects support at 47,150-47,250 levels and a strong buy zone at 46,925-47,025 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Share Market Today LIVE | Polycab hits 20% lower circuit after Zee Business reports about I-T Department raids
After Zee Business reported about income tax raids at more than 50 locations of Polycab India, the stock of the cables and wires manufacturer hit a 20 per cent lower circuit on BSE. Polycab stock hit a lower circuit of 20 per cent to go down by Rs 982.60 to Rs 3930.55 on NSE.
What Zee Business news says
Income Tax Department initiated search and seizure operations in the case of a group, engaged in the manufacturing of wires and cables and other electrical items on December 22. Read more
Currency Update | Rupee turns flat at 83.03 against US dollar in early trade
Share Market Today LIVE | Nifty near 21,700, Sensex trades nearly 250 pts higher
Nifty 50
Source: NSESensex
Source: BSE
Stocks to Watch | Tech Mahindra, Bank of India, Marico, other stocks
Here are some stocks that will be in focus on Thursday, January 11:
Kalyani Steels: The company has been declared a successful bidder for the acquisition of the assets of Kamineni Steel & Power India Private Limited. The acquisition of assets is to be completed on or before May 7, 2024.
Atul Products: The company's subsidiary, Atul Products, has received the required approval of licences and commenced its operations of a 300 tpd caustic and 50 MW power plant situated at the Atul site.
Safari Industries: The company's board will consider a proposal for raising funds by way of the issue of securities on January 15, 2024.
Polycab India: The Income tax department conducted search operations at the company. The company's sales amounting to around Rs 1000 crore were not shown in its books.
Kamat Hotels: As per sources, tourism boost in Ayodhya will augur well for the company. The company will be opening a new hotel in Ayodhya this month only, with plan to establish 3 hotels in the city. Read more
TCS Q3 preview | BSNL deal contribution, demand outlook and trends in Generative AI among key monitorables
Tata Consultancy Services (TCS), along with its peer Infosys, is set to kickstart the Q3 earnings season for the IT sector today and brokerages and analysts largely expect the company to report muted revenue growth for the third quarter of the current fiscal (Q3 FY24) with a modest expansion in earnings before interest and taxes (EBIT) margin.
Zee Business Research desk estimates revenue at the IT services major to increase to Rs 59,900 crore versus Rs 59,692 crore, up 0.3 per cent quarter-on-quarter. The EBIT is also seen to rise marginally to Rs 14,660 crore against Rs 14,483 crore logged in the previous quarter. Read more
Infosys Q3 results preview: Revenue likely to decline nearly 2% with 100 bps margin contraction in seasonally weak quarter
Infosys, the country’s second largest IT company, is all set to report its financial results for the October-December period today. The fiscal third quarter is typically softer for the sector owing to wage hikes, furloughs in key markets and lower discretionary spends by clients.
Analysts will closely track the Bengaluru-headquartered IT major’s business outlook, pricing, deal wins, attrition and management commentary. India Inc is entering the results season days after global IT services giant Accenture retained its full-year forecast for growth at 2-5 per cent and operating margin at 14.8-15 per cent.
What to expect from Infosys
According to Zee Business research, Infosys is estimated to report a consolidated net profit of Rs 6,220 crore for the quarter ended December, which translates into a sequential increase of 0.1 per cent. Read more
Share Market Today LIVE | GIFT Nifty futures indicate sluggish start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are up 6.9 points or 0.03 per cent at 21,716 ahead of the opening bell on Dalal Street.
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