On Tuesday, traders are advised to consider strategies for L&T, BPCL, SBI Life, Rail Vikas Nigam, Kalyan Jewellers, and Capacite Infra. Additionally, there is an option to receive push notifications for relevant content and transaction updates.
The National Stock Exchange (NSE) has expanded its futures and options (F&O) segment by adding 45 new stocks, effective November 29, 2024, increasing the total to 223. This inclusion, following SEBI’s revised criteria, aims to enhance liquidity and market participation, featuring notable stocks like LIC, Jio Financial Services, and Zomato. Analysts anticipate that this move will boost trading volumes and improve price discovery for these stocks.
BSE Ltd has revised the price band of 44 stocks, including Adani Total, LIC, Zomato, and Paytm, to 10%, effective November 29, 2024. This change applies to various companies across sectors, aiming to standardize trading limits. The full list includes notable firms like DMart, Yes Bank, and Jio Financial Services.
UBS Principal Capital sold a 1.03% stake in BSE Limited, with notable buyers including Amansa Holdings Private, Think India Opportunities Master Fund LP, and iShares Core MSCI Emerging Markets ETF. In a broader trading session, UBS offloaded shares in several Indian companies, including Alkem Laboratories, Kalyan Jewellers, and Oberoi Realty, while Amansa Holdings acquired 13.94 lakh shares of GMM Pfaudler. Other transactions included sales by Paradise Moon Investment Fund-I and Vikasa India EIF I Fund-Incube Global Opportunities in Mcon Rasayan India Ltd.
Indian equities are set to receive $2.5 billion in inflows following the MSCI's latest rejig, which will include BSE, Voltas, Alkem Laboratories, Kalyan Jewellers, and Oberoi Realty in the MSCI Global Standard Index. HDFC Bank's weightage will increase, contributing to a total of 156 stocks in the MSCI Standard/EM Index, while the Smallcap Index will see 13 new inclusions, raising its total to 525. India's representation in the MSCI EM Index will rise from 19.3% to approximately 19.8%, marking the highest increase among emerging markets in this rejig.
Kalyan Jewellers reported a 37% YoY revenue growth to INR 60.7 billion, driven by strong festive demand and new store openings. The Indian segment saw a 39% increase, with studded jewelry revenue rising 45%. Motilal Oswal maintains a BUY rating with a target price of INR 800, anticipating robust growth through FY24-27.
Kalyan Jewellers reported a net profit of Rs 130.3 crore for the September 2024 quarter, a decline of 3.3% from Rs 134.8 crore in the same period last year. However, total revenue surged by 37% to Rs 6,065.5 crore, up from Rs 4,414.5 crore a year ago.
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