Month: March 2024

Ghodadongri Madhya Pradesh Assembly Constituency Election 2023: Date of Result, Voting, Counting; Candidates

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Ghodadongri MP Assembly Election 2023 Details: The election for Ghodadongri Assembly Constituency in Madhya Pradesh will be held on November 17 this year. The final date of voting and result were known after the formal announcement by the Election Commission of India. Here are the important details of the Ghodadongri Constituency Assembly Election 2023 that you should know.

Ghodadongri Constituency Madhya Pradesh Assembly Election 2023: Voting Date

November 17 is the date of voting for the Ghodadongri Assembly Constituency Election 2023 as announced by the Election Commission of India.

Ghodadongri Constituency Madhya Pradesh Election 2023: Candidates List

Bharatiya Janta Party (BJP), Congress and other political parties in the state will announce their candidates for the Ghodadongri Assembly Constituency Election 2023 after the announcement of voting dates by the Election Commission of India.

Why Ghodadongri Constituency Assembly Election 2023 is Important

Ghodadongri is a state Assembly/Vidhan Sabha constituency in the state of Madhya Pradesh and is part of the Ghodadongri Lok Sabha/Parliamentary constituency. Ghodadongri falls in the Ghodadongri district of Madhya Pradesh and is categorised as an urban seat.

Ghodadongri Constituency MP Election Result: What happened in 2018

Bramha Bhalavi of the Indian National Congress was the winning candidate from the Ghodadongri constituency in the MP Assembly elections 2018, securing 92106 votes while 74179 votes were polled in favour of Geeta Ramjilal Uikey of the Bharatiya Janata Party. The margin of victory was 17927 votes.

2018 Ghodadongri Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesBramha BhalaviIndian National Congress92106

Candidate List Party Name Votes Gained (Vote %) Bramha Bhalavi Indian National Congress 92106 (46.92%) Geeta Ramjilal Uikey Bharatiya Janata Party 74179 (37.79%) Kaushal Parte Gondvana Gantantra Party 8305 (4.23%) None Of The Above None Of The Above 5542 (2.82%) Pratap Singh Uike Samajwadi Party 3962 (2.02%) Ashok Bhalavi Bahujan Samaj Party 3331 (1.7%) Shyamlal Bete Independent 2498 (1.27%) Shrimati Mangeetabai Uikay Independent 2243 (1.14%) Durga Tukdu Singh Dhurve Independent 1185 (0.6%) Kamalsingh Marskole Independent 1078 (0.55%) Kallusinh Kumre Independent 708 (0.36%) Sunil Varkade Aam Aadmi Party 698 (0.36%) Ashish Parte Independent 454 (0.23%)

Ghodadongri Constituency MP Election Result: What happened in 2013

Sajjan Singh Ueikey of the Bharatiya Janata Party was the winning candidate from the Ghodadongri constituency in the MP Assembly elections 2013, securing 77793 votes while 69709 votes were polled in favour of Bramha of the Indian National Congress. The margin of victory was 8084 votes.

2013 Ghodadongri Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesSajjan Singh UeikeyBharatiya Janata Party77793

Candidate List Party Name Votes Gained (Vote %) Sajjan Singh Ueikey Bharatiya Janata Party 77793 (48.24%) Bramha Indian National Congress 69709 (43.22%) None Of The Above None Of The Above 5926 (3.67%) Sohan Lal Uikey Bahujan Samaj Party 2481 (1.54%) Ramnarayan Ashok Kalme Samajwadi Party 1984 (1.23%) Rakesh Dhurvey Gondvana Gantantra Party 1850 (1.15%) Mangal Singh Lokhnde Samajwadi Jan Parishad 1536 (0.95%)

Petrol and Diesel Price Today, 11 Sep 2022: Fuel prices static; Check rates in Delhi, Mumbai, other cities

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Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: The price of petrol and diesel has been kept steady on 11 September 2022 (Sunday), keeping costs steady for more than three months now. Petrol and diesel in Delhi is priced at Rs 96.72 and Rs 89.62 a litre, respectively. In Mumbai, petrol is retailing at Rs 106.31 per litre and diesel at Rs 94.27 per litre. The last country-wide change in price came on 21 May 2022, when Finance Minister Nirmala Sitharaman announced a cut in excise duty on petrol by Rs 8 per litre, and Rs 6 per litre on diesel. Since then, Maharashtra is the only state to have cut rates. The Maharashtra government had announced a cut in value-added tax (VAT) on petrol by Rs 5 a litre and by Rs 3 a litre for diesel in July.

The prices of petrol and diesel vary in each state depending upon several factors such as the local taxes, Value Added Tax (VAT), freight charges, etc. Since the central government excise duty cut, only two states have reduced VAT rates on auto fuels. Meghalaya was the last to revise the fuel rates when it increased VAT August 24, because of which petrol now costs Rs. 96.83 per litre in Shillong and diesel is now priced at Rs. 84.72 per litre.

Mumbai: Petrol price: Rs 106.31 per litre, Diesel price: 94.27 per litre

Delhi: Petrol price: Rs 96.72 per litre, Diesel price: Rs 89.62 per litre

Chennai: Petrol price: Rs 102.63 per litre, Diesel price: Rs 94.24 per litre

Kolkata: Petrol price: Rs 106.03 per litre, Diesel price: Rs 92.76 per litre

Bengaluru: Petrol: Rs 101.94 per litre, Diesel: Rs 87.89 per litre

Lucknow: Petrol: Rs 96.57 per litre, Diesel: Rs 89.76 per litre

Noida: Petrol: Rs 96.79 per litre, Diesel: Rs 89.96 per litre

Gurugram: Petrol: Rs 97.18 per litre, Diesel: Rs 90.05 per litre

Chandigarh: Petrol: Rs 96.20 per litre, Diesel: Rs 84.26 per litre

Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with international benchmark prices and foreign exchange rates. Any changes in petrol and diesel prices are implemented from 6 am every day. Retail petrol and diesel prices differ from state to state because of local taxes like VAT or freight charges.

Kolkata: ED raids at TMC minister Jyotipriya Mallick’s residence in ration ‘scam’ probe

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Enforcement Directorate (ED) officials carried out early morning searches at the residences of West Bengal minister Jyotipriya Mallick on Thursday in connection with an ongoing investigation into an alleged multi-crore ration distribution scam.

The ED conducted raids on two flats owned by Mallick, the state’s forest minister, in Kolkata’s Salt Lake area, with support from a team of central forces.

The ruling Trinamool Congress labelled these raids as “political vendetta” amidst ongoing festivities in the state.

Simultaneously, search operations were also in progress at eight other flats, including the residences of Mallick’s former personal assistant during his tenure as the food minister.

Also Read:ED raids multiple locations in scholarship scam money laundering probe

“There are eight officers conducting the exercise at Mallick’s residences. We are also conducting searches at his former personal assistant’s residence in Dum Dum, and at a few other places,” the ED officer told PTI.

The central probe agency had previously arrested an individual with close ties to the TMC and Mallick. Mallick is now being questioned about his connection with the arrested person, and his bank accounts are under scrutiny.

Also Read:ED raids AAP MLA Amanatullah Khan’s premises in money laundering probe

TMC leader and state minister Shashi Panja criticised the raids at Mallick’s residences, asserting that “this is an attack on the culture of Bengal at the time of ‘Bijoya Dasami’. This is nothing but vendetta politics. We have seen there were raids at our leaders’ places before Durga Puja when we were demonstrating, demanding release of (MGNREGA) funds”.

“We are not surprised at such search operations as they (central agencies) have identified certain targets… And this will continue,” Panja alleged

Meanwhile, BJP leader Rahul Sinha claimed that the TMC is “deeply mired in corruption”, with several of its leaders facing allegations of corruption.

“Whenever the ED or CBI conducts raids at TMC leaders’ residences, they cry foul and describe the exercise as being politically motivated. The reality is… nearly every TMC leader is facing corruption allegations,” Sinha said.

In recent times, officials from central probe agencies also conducted searches at various locations in the state, including at the residence of Food and Supplies Minister Rathin Ghosh and Urban Development Minister Firhad Hakim.

(With PTI inputs)

Nifty, Sensex surge 2% on strong global cues as bulls return to D-St; ‘market trend bullish, buy on dips’

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Bulls fuelled pullback rally on Tuesday as Indian equity markets reversed the previous session’s losses to gain over 2 per cent on the back of positive global cues. Frontline indices witnessed a massive buying interest today as Sensex zoomed nearly 1300 points and Nifty 50 settled above 17250. The BSE Sensex closed 2.25 per cent higher at 58,065, while Nifty50 ended 2.29 per cent up at 17,274. “Nifty smartly broke out upwards after sideways consolidation. It will now face resistance in the 17291-17401 band while 17176-17196 band will offer support in the near term,” said Deepak Jasani, Head of Retail Research, HDFC Securities.

S Ranganathan, Head of Research at LKP securities

Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities

“On the backdrop of strong global cues, the benchmark indices bounce back sharply. Technically, after a sharp intraday correction, the index bounce back sharply. Post gap up opening, indices held the level of 17100/57500 and managed to close above the same. They also formed higher bottom formation on intraday charts which indicates continuation of uptrend in the near future. The short-term market structure is positive but due to temporary overbought condition, we could see range-bound activity in the near future. For the traders now, 17200-17150/57800-57600 would be the key support zone whereas 17400-17425/58300-58400 would act as an important resistance zone for the index.”

Palak Kothari, Senior Technical Analyst, Choice Broking

“On the technical front, the Nifty has been trading with the support of above 89-DMA as well as given closing above 200 DMA which points out bullish momentum in the counter. Furthermore, the Nifty has given a breakout of rectangle pattern on an hourly chart which suggests strength for the upside. The support for nifty has shifted around 17000 levels while on the upside 17400 levels may act as an immediate hurdle crossing above the same can open the gate for 17500-17650 levels. On the other hand, Bank nifty has support at 38500 levels while resistance at 39800 levels. Overall, the Nifty has closed above the 17200 level and looking bullish for the upcoming session. Every dip should be considered as buying opportunity.”

(The recommendations in this story are by the respective research analysts and brokerage firms. FinancialExpress.com does not bear any responsibility for their investment advice. Capital markets investments are subject to rules and regulations. Please consult your investment advisor before investing.)

Nifty likely to hit life-time high of 15,400 in May, BFSI, pharma, metal sectors may outperform

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By Dharmesh Shah

Nifty Outlook

In the week gone by equity benchmarks extended gains over the second consecutive week despite elevated volatility spooked by surging second wave of COVID-19 across India. The Nifty concluded the week at 14823, up 1.3%. Broader market relatively outperformed as Nifty midcap, small cap surged 1.3% and 2%, respectively. Sectorally, metal, pharma and IT remained in limelight while realty underperformed

Despite Monday’s gap down opening index managed to hold last week’s low of 14400 and staged a strong pullback during the weekBank Nifty outlookThe weekly price action formed a bull candle with shadows in either direction, indicating elevated volatility as the index is forming higher base above the 61.8% retracement of previous two week up move (30405-34287).We reiterate our positive stance with target of 34900 levels, in May’21 as it is the 61.8% retracement of the entire last two months decline (37708-30405). While in the upcoming truncated week any decline towards 32000-32400 would attract strong buying demandKey point to highlight is that over the past seven sessions the index has retraced just 61.8% of preceding seven sessions up move (30405-34287). The slower pace of retracement indicates a higher base formation.The slower pace of retracement after the recent up move of 3880 points, which is the larger in magnitude compared to late February up move of 2256 points highlights robust price structure and the current consolidation should be used as an incremental buying opportunity in quality banking stocksThe index has immediate support at 32000-31500 levels being the confluence of the last two weeks low and the 61.8% retracement of the current up move (30405-34287). While the major support is placed in the range of 30500-30000 levelsThe index has maintained the rhythm of not correcting more than 20% as witnessed since March 2020. In the current scenario, it rebounded after correcting 19% from the all-time high (37708). Hence it provides favourable risk-reward setup for the next leg of up moveAmong the oscillators, the weekly stochastic is in uptrend and placed at a reading of 52 thus supports the continuation of the pullback in the index in coming weeksBank Nifty has maintained the rhythm of not correcting more than 20% as witnessed since March 2020

(Dharmesh Shah is the Head – Technical at ICICI Direct. Please consult your financial advisor before investing.)

ICICI Securities Limited is a SEBI registered Research Analyst having registration no. INH000000990. It is confirmed that the Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 22/04/2021 or have no other financial interest and do not have any material conflict of interest. I-Sec or its associates might have received any compensation towards merchant banking/ broking services from the subject companies mentioned as clients in preceding 12 months

Adani Ports, PVR, Tata Power, UPL, Reliance, BPCL, Ami Lifesciences stocks in focus on 16 September 2022

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Indian equity markets may open in red on week’s last trading day. Early trends in the SGX Nifty hinted at a negative start for benchmark index NSE Nifty 50 and BSE Sensex with a loss of 99 points. Global cues were negative as Wall Street indices ended in red overnight and shares in the Asia-Pacific were trading lower on Friday. “The recent move in the index indicates consolidation amid feeble global cues however the bias is still on the positive side. Meanwhile, we recommend continuing with the “buy on dips” approach and focusing on sectors/themes which are seeing buying interest on a rotational basis,” said Ajit Mishra, VP – Research, Religare Broking.

Stocks in focus on 16 September, Friday

Adani Ports: Adani Ports and Special Economic Zone subsidiary HDC Bulk Terminal Ltd will modernise the Haldia port in West Bengal at an estimated cost of Rs 298 crore, marking the Gautam Adani-led conglomerate’s entry in the state’s ports sector. “The upgradation of Haldia bulk terminal provides us the opportunity to firmly establish APSEZ’s footprint in West Bengal,” the company quoted APSEZ chief executive Karan Adani as saying after the concession agreements was signed on Thursday for mechanisation of berth number 2.

Tata Power: Tata Power Solar Systems Limited (TPSSL), 100% subsidiary of Tata Power Renewable Energy Limited (TPREL), will set up a 100 MW ground-mounted solar project for SJVN Limited (SJVN) in Gujarat for Rs 612 crore. SJVN is an Indian public sector undertaking having business interests in hydro, thermal, solar, wind and in power transmission and power trading. It is a joint venture between the Government of India and the Government of Himachal Pradesh.

Reliance: Reliance Retail Ltd has sought shareholders’ approval for doubling its borrowing limit to Rs 1 lakh crore. The proposal will be put up before the shareholders during the company’s Annual General Meeting (AGM) to be held on September 30. In September last year, the shareholders had approved borrowing a sum not exceeding Rs 50,000 crore. During its meeting on May 5, 2022, the company’s board proposed to increase the borrowing limit “by a sum not exceeding Rs 1,00,000 crore”.

PVR: PVR: Plenty Private Equity FII I sold 7,62,499 equity shares or 1.24%stake in the multiplex company via open market transactions at an average price of Rs 1,877.14 per share, and Plenty Private Equity Fund I offloaded 10,76,259 shares or 1.76% stake at an average price of Rs 1,887.04 per share. Together they held 6.02% stake in the company as of June 2022. Gray Birch Investment exited PVR by selling 22,06,743 equity shares at an average price of Rs 1,871.18 per share.

UPL: UPL on Thursday said it has acquired 26% stake in Clean Max Kratos Pvt Ltd, which is into renewable energy. Clean Max was incorporated on July 28 with paid up capital of Rs 1 lakh. The company, which is into solar/wind power generation, is yet to commence operations. In a regulatory filing, UPL Ltd said Clean Max Kratos would develop and maintain a hybrid 28.05 MW solar and 33 MW wind power project under the captive model as envisaged under the electricity laws. This project will enable UPL to increase its renewable energy usage to 30% of its total global power consumption from the current level of 8%.

BPCL: Oil Minister Hardeep Singh Puri on Thursday indicated that the privatisation of oil major BPCL may not happen in the near future, saying there is “no proposal whatsoever” on his table for now. The govt had in November 2019 put BPCL on the block and said it would completely sell its 52.98% stake in the country’s second largest state-run oil refiner and marketer. Though it had received three tentative bids and only one financial bid from Vedanta group, forcing it to shelve the plan in May 2022 pending a “comprehensive review”. “How can a sale process under competitive bidding go ahead when there is only one bidder?”, Puri said when asked whether his ministry pursuing BPCL divestment again.

Also Read: Tata’s 5-year plan to make Air India great again: 30% market share, ‘fixing the basics’, other key focus areas

Ami Lifesciences: Ami Lifesciences, the manufacturer of active pharmaceutical ingredients and intermediates, on Thursday announced the appointment of Amit Kaptain as chief executive officer. As part of the Ami Lifesciences senior management team, Kaptain will be responsible for building business strategy and longstanding global partnerships with leading pharmaceutical companies by developing products in niche therapeutic areas, and thereby becoming a reliable partner of choice from India.

Gold Price Today, 28 Sep 2022: Gold, silver rates fall on strong US Dollar, weak cues; MCX support at Rs 48500

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Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold rate and silver rate were trading weak on Wednesday, on the back of strong US Dollar. On Multi Commodity Exchange, gold October futures were trading Rs 99 or 0.2 per cent down at Rs 49,220 per 10 gram. Silver December futures were ruling Rs 581 or 1.05 per cent down at Rs 54,798 per kg. Globally, yellow metal prices slipped as the dollar resumed climbing after Federal Reserve officials reiterated the US central bank’s resolution to maintain an aggressive policy stance to tackle soaring inflation, according to Reuters. Spot gold was down 0.3% at $1,624.81 per ounce, U.S. gold futures dipped 0.2% to $1,632.4.

Also read: Retail cos leveraging AI to grow revenue, shifting focus to customer experience, front-end | Nasscom Interview

MCX Gold October erased gains seen in early trade yesterday as the greenback continued to stay firm while upside remained limited in the precious metals complex. However, depreciation in rupee could continue to aid downside in domestic front MCX gold futures. The outlook is bearish. COMEX Gold has a strong support near $1,620 an ounce. Overall MCX Gold could continue to trade lower to Rs. 49,100 – 49,000 per 10 gm in October contract.

Bhavik Patel, Commodity & Currency analyst, Tradebulls Securities

The US Treasury yield hit 4.00% yesterday which strengthened the US Dollar and weakened all asset classes including gold. Bearish sentiment in the gold market has reached a four-year high. Money managers have dropped their speculative long position and added fresh short positions. Gold’s net short positioning increased to 36,695, doubling from the previous week. We have seen six weeks of outflow from Gold ETF on account of strong dollar. Initially gold was able to withstand the hawkish Fed but continuous rallies in the US dollar have put gold on back foot. Investors should wait for some stabilization in the marketplace. There is now risk of short squeeze building up so any trader holding a short position should hold with strict stoploss. $1600 continues to be strong support and breach below that would break the prices till $1540. In MCX, weak rupee is helping gold and next support comes at 48800-48500.

Also read: RBI MPC likely to hike repo rate by 50 bps again; commentary on liquidity, rupee depreciation keenly eyed

Navneet Damani, Sr. Vice President – Commodity & Currency Research, Motilal Oswal Financial Services

After a slight rebound earlier this week, both gold and silver prices witnessed some pressure as the Dollar Index gained momentum once again amidst hawkish speech from fed officials. Minneapolis Federal Reserve Bank President Neel Kashkari said U.S. central bankers are united in their determination to do what is needed to bring inflation down, and financial markets understand that. Meanwhile, Chicago Fed President Charles Evans said the central bank will need to raise interest rates to a range between 4.50% and 4.75%. Market participants are expecting the Fed to maintain its hawkish stance, raising expectations of further aggressive rate hikes. These expectations are supporting the move in Dollar Index and U.S. Yields which is currently trading ~114.40 and 3.9% respectively, weighing on the precious metals pack. New orders for U.S. manufactured capital goods increased more than expected in August, suggesting that businesses remained keen to invest in equipment despite higher interest rates, which could keep the economy on a moderate growth path. Focus today will be on the comments from the Fed and ECB Governor. Broader trend on COMEX could be in the range of $1610-1657 and on domestic front prices could hover in the range of Rs 48,850-49,550.

(The views in this story are expressed by the respective experts of the research and brokerage firm. Financial Express Online does not bear any responsibility for their advice. Please consult your investment advisor before investing.)

Wall Street week ahead: As markets churn, investors hide in cash despite surging inflation

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A tough year in markets is leading some investors to seek refuge in cash, as they capitalize on higher interest rates and await chances to buy stocks and bonds at cheaper prices.

The Federal Reserve has roiled markets in 2022 as it implements huge rate hikes in an effort to moderate the steepest inflation in 40 years. But higher rates are also translating into better rates for money market funds, which had returned virtually nothing since the pandemic began in 2020.

Fund managers increased their average cash balances to 6.1% in September, the highest level in more than two decades, a widely followed survey from BofA Global Research showed.

Assets in money market funds have stayed elevated since jumping after the pandemic began, coming in at $4.44 trillion as of last month, not far from their peak of $4.67 trillion in May 2020, according to Refinitiv Lipper.

Also Read: Wall Street extends losses, US stocks tumble amid Fed tightening jitters, economic rumblings

“Cash is now becoming a viable asset class because of what has happened to interest rates,” said Paul Nolte of Kingsview Investment Management, who said the portfolios he manages have 10 to 15% in cash versus less than 5% typically.

“It gives me the opportunity in a couple months to look around in the financial markets and redeploy if the markets and the economy look better,” said Nolte.Investors are looking to next week’s Fed meeting, at which the central bank is expected to enact another jumbo rate hike, following this week’s consumer price index report that came in hotter than expected.

The S&P 500 fell 4.8% in the past week and is down 18.7% this year. The ICE BofA U.S. Treasury Index is on pace for its biggest annual drop on record.

Meanwhile, taxable money market funds had returned 0.4% so far this year as of the end of August, according to the Crane 100 Money Fund index, an average of the 100 largest such funds.

The average yield in the Crane index is 2.08%, up from 0.02% at the start of the year and the highest level since July 2019.

“They are looking better and their competition is looking worse,” said Peter Crane, president of Crane Data, which publishes the money fund index.

Of course, sitting in cash has its drawbacks, including the possibility of missing a sudden reversal that takes prices for stocks and bonds higher. Inflation, which stood at 8.3% on an annual basis last month, has also dented the appeal of cash.

“Certainly you are losing some purchasing power with inflation running at 8-plus percent, but… you are taking some money off the table at a risky time for equity markets,” said Peter Tuz, president of Chase Investment Counsel. “Your equities could be down 8% in two weeks.”

While an obvious sign of caution among investors, extreme levels of cash are sometimes viewed as a so-called contrarian indicator that bodes well for equities, said Mark Hackett, Nationwide’s chief of investment research, especially when taken in concert with other measures of investor pessimism.

Hackett believes stocks may stay volatile in the near-term, amid various risks including potential earnings weakness along with high inflation and the hawkish Fed, but he is more upbeat about the outlook for equities over the next six months.

“There’s a degree of a coiled spring developing where if everybody is already on the sidelines at some point there is nobody left to go on the sidelines and that leads you to potentially any piece of good news resulting in a very outsized move,” Hackett said.

David Kotok, chief investment officer at Cumberland Advisors, said his U.S. equity portfolio made up of exchange-traded funds is currently 48% in cash after being almost fully invested in equity markets last year.

Stocks are too expensive given risks including rising interest rates, the potential for a Fed-induced recession and geopolitical tensions, Kotok said.

“So I want cash,” Kotok said. “I want the cash to be able to deploy back into the stock market at lower prices or substantially lower prices, and I don’t know which opportunity I’ll have but the only way I can seize it is to be holding that amount of cash.”

Share Market Highlights: Sensex surges 1200 pts, Nifty ends above 17250; HDFC Bank leads gains

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Share Market News Today | Sensex, Nifty, Share Prices Highlights: Bulls dominated Dalal Street as benchmark indices surged over 2 per cent amid positive global cues. A global rebound in market sentiment propelled domestic equities higher. The S&P BSE Sensex gained 1,277 points, or 2.25 per cent, to settle at 58,065, while Nifty 50 shut shop at 17,274, up 387 points or 2.29 per cent. The index neared 17,300-mark in intra-day deals. All the sectoral indices ended in the green with auto, bank, metal, IT, power and realty up 2-3 percent. The Indian rupee closed 39 paise higher at 81.48 per dollar on Tuesday against previous close of 81.87.

Live Updates

Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Updates 4 October

15:43 (IST) 4 Oct 2022 Bank, Financials, IT stocks lead gains

Sectorally, all the indices ended in the positive zone led by the Nifty Private Bank and Metal indices (3.2 per cent each), Nifty Bank, PSU Bank, Financial Services, IT indices (2.8 per cent each), and Nifty FMCG index (1.8 per cent). 

15:41 (IST) 4 Oct 2022 Top gainers, losers

IndusInd Bank, Bajaj Finance, TCS, HDFC, Bajaj Finserv, Tata Steel, HDFC Bank, Wipro, L&T, Axis Bank, ITC, SBI, and Infosys were the top Sensex gainers, rising between 2.5 per cent and 5 per cent. On the downside, only PowerGrid, and Dr Reddy’s Labs ended in the red.

15:36 (IST) 4 Oct 2022 Nifty, Sensex end 2% higher

Bulls drive Sensex over 1,200 points higher, Nifty settles above 17,250

15:29 (IST) 4 Oct 2022 Power stocks gain

BSE Power index gained 2 per cent, led by the NHPC, Adani Transmission, Torrent Power

15:18 (IST) 4 Oct 2022 Britannia Industries arm acquires 51% stake in Kenafric Biscuits, stock up 1%

Britannia Industries through its subsidiary Britannia and Associates (Dubai) has acquired control of Kenafric Biscuits, Kenya by subscribing to 51% stake in the said company, for Rs 9.2 crore. The subsidiary also acquired 100% stake in Catalyst Britania Brands for Rs 1.42 crore. Britannia Industries was quoting at Rs 3,819.40, up Rs 51.45, or 1.37 percent on the BSE.

15:17 (IST) 4 Oct 2022 Nifty may reclaim 17500 this week

Bulls took over Dalal Street as equities firmed up amid strong sentiments overseas. Frontline Nifty50 surged over 350 points to test 17,250 levels, and Sensex surged 1,200 points to trade at 58,000 levels. Nifty may cross 17500 level this week. Investors can book profits in longs today. ~Rahul Sharma, Head – Technical & Derivatives Research, JM Financial Services.

14:45 (IST) 4 Oct 2022 IT stocks support benchmark index rally

Nifty IT index gained 2.7 per cent, led by Coforge, L&T Infotech and TCS

14:44 (IST) 4 Oct 2022 SphitiCap launches maiden fund with a total corpus of $500 million

SphitiCap today announced the launch of its maiden Venture Fund with a total corpus of $500 million, which the firm is in the midst of closing. The early stage fund is supporting investments in enterprises that align with the tenets of sustainability, growth, and impact. 

14:34 (IST) 4 Oct 2022 Bajaj Steel appoints Vinod Kumar Bajaj as additional non-executive director

Bajaj Steel appoints Vinod Kumar Bajaj as additional non-executive director. Shares jumped 1 per cent.

14:15 (IST) 4 Oct 2022 Indices hold sharp gains

Sensex is up 1,215.94 points or 2.14 percent at 58,004.75. Nifty is up 371 points or 2.20 percent at 17258.30.

14:15 (IST) 4 Oct 2022 BSE Volume shockers

Easy Trip Planners, Bank of Maharashtra among volume shockers on BSE. Easy Trip Planners has witnessed unusually high volume of around 7.91 lakh shares on the BSE so far as against its five-day average volume of around 1.53 lakh shares. Similarly, Bank of Maharashtra, REC, Junilant Ingreva and Jubilant Pharmova also witnessed a significant spike in volume in trade intraday.

14:03 (IST) 4 Oct 2022 Reliance shares rise 1%

Reliance Industries’ subsidiary RSBVL and US-based Sanmina Corporation have completed the deal to set up an electronics manufacturing joint venture at a total enterprise valuation of about Rs 3,300 crore.

13:05 (IST) 4 Oct 2022 Indices at day’s high

Indian benchmark indices were trading at day’s high with Nifty around 17250.The Sensex was up 1,181.82 points or 2.08% at 57970.63, and the Nifty was up 357.60 points or 2.12% at 17244.90.

13:05 (IST) 4 Oct 2022 DMart shares jump 4%

Shares of Radhakishan Damani-backed Avenue Supermarts, which runs the DMart chain of retail stores, rose nearly 4% after the company reported a standalone revenue from operations of Rs 10,385 crore in the September quarter. The revenue increased 35.8% as compared to the year-ago period. Citing September quarter data, brokerage firm Motilal Oswal gave a neutral call on the stock with a reduced target price of Rs 4,100, which is 8.6% lower from the current market price of Rs 4,485.60.

13:03 (IST) 4 Oct 2022 Blue Dart share hit new high; rally 14% in a week

Blue Dart share price hit a new high intraday, The stock has rallied 14 per cent in a week on 10% price hike decision. Blue Dart Express, on September 28, had announced that the average shipment price increase will be 9.6 per cent as compared to 2022, depending on the shipping profile. The company said the customers signing up from October 1, 2022 to December 31, 2022 will not be impacted by the price increase.

13:01 (IST) 4 Oct 2022 Pharma stocks gain

Nifty Pharma index conquered 200-DMA. The Pharma index has outperformed the overall market in recent trading sessions. Sustenance above the 200-DMA is expected to trigger further gains for the index. Cipla, Granules shares can soar up to 15%.

12:59 (IST) 4 Oct 2022 Electronics Mart India IPO update

The initial public offering (IPO) of Electronics Mart India, the fourth largest consumer durables and electronics retailers in India, was subscribed 45 per cent on the first day of the subscription. The offer garnered bids for 2.82 crore equity shares against an offer size of 6.25 crore equity shares. The offer size was reduced to 6.25 crore equity shares from around 8.47 crore after raising Rs 150 crore through anchor book on October 3. Retail investors were once again at the forefront, subscribing 81 per cent shares of the allotted quota. Non-institutional investors also started putting bids for the issue, buying 22 per cent of the portion set aside for them. Qualified institutional investors bought 3,556 shares against 1.78 crore shares reserved for them.

12:58 (IST) 4 Oct 2022 PSU Bank stocks rise

Nifty PSU Bank index rose 2 per cent, led by the Bank of Maharashtra, Punjab National Bank (PNB), Bank of Baroda

12:58 (IST) 4 Oct 2022 IndusInd Bank shares jump 5%

Shares of IndusInd Bank advanced nearly 5 per cent after the lender reported strong loan and deposit growth for the September quarter, lifting the investor sentiment.

The lender said its advances grew 18 percent year-on-year (YoY) and 5 percent quarter-on-quarter (QoQ), beating most peers. Advances stood at Rs 2,59,647 crore as of September as against Rs 2,20,808 crore a year back. Deposits with the bank rose 15 percent YoY from Rs 2,75,473 crore to Rs 3,15,824 crore as of September 2022. It was a 4 percent on-quarter rise, the bank said.

12:13 (IST) 4 Oct 2022 Nifty, Sensex holding firmly in green

Benchmark indices were trading higher in noon deals with Nifty around 17200. The Sensex was up 1,135.56 points or 2% at 57924.37, and the Nifty was up 348.20 points or 2.06% at 17235.50.

12:11 (IST) 4 Oct 2022 Buy good quality company stocks available at reasonable valuations

“We expect that this move in both Bank Nifty and Nifty50 can sustain as long as the market believes that the global central banks, especially the US Fed, will now be inclined to reduce/stop liquidity tightening measures. We believe that investors should buy good quality companies available at reasonable valuations in this rally, to not get caught on the wrong side, if the market expectations of the US Fed pivot does not hold true.”~Nishit Master, Portfolio Manager, Axis Securities PMS

12:11 (IST) 4 Oct 2022 Firm global cues, positive business updates by banks cheer investors

“The Indian markets are up almost 2% today following global cues since the US markets were up ~2.5% yesterday, and Dow futures today are indicating a positive 1% opening again. The movement in the global markets is in anticipation of a pivot by the US Fed towards slowing down or stopping liquidity tightening due to various financial risks now apparent. The business updates shared by banks and other financial intermediaries for Q2FY23 have been encouraging, and thus, the Financial sector is leading the rally in India, leading to upbeat estimates for the overall earnings season.”~Nishit Master, Portfolio Manager, Axis Securities PMS

12:09 (IST) 4 Oct 2022 Index heavyweights gain

The positive sentiment and reduced risk appetite among investors lifted shares of index heavyweights. Shares of Bajaj Finance, Bajaj Finserv, HDFC, HDFC Bank, Tata Consultancy Services, ITC, Reliance Industries surged in the range of 1 per cent to 3 per cent in intra-day trade.

12:08 (IST) 4 Oct 2022 Rupee bounceback aid market rally

The Indian rupee strengthened by 39 paise to 81.42 against the US dollar in early trade, on the back of strong global market cues, and weakness in the global greenback. The dollar index, which gauges the greenback against a basket of six currencies, slipped 0.1 per cent to 111.5. However, the 0.4 per cent rise in prices of Brent Crude ahead of the OPEC+ meet limited upward movement of the domestic currency.

12:07 (IST) 4 Oct 2022 FII buying pull markets higher

A strong start to October series was seen as FIIs made a soft landing in the cash segment of Indian equity markets. FIIs bought shares worth Rs 590 crore on Monday, as against outflows of Rs 423 crore worth of equities by the domestic institutional investors (DIIs).

12:06 (IST) 4 Oct 2022 What’s fueling market rally?

Firm global cues: After the sharp decline last week, the US markets rebounded in Monday’s trade after 10-year, and 2-year treasury yields dropped to 3.6 per cent, and 4.1 per cent, respectively, on weaker-than-expected manufacturing data. All three major Wall Street indices – Dow Jones, NASDAQ Composite, and the S&P 500, closed over 2 per cent higher, to start the final quarter of the year on a positive note. Besides, US equity futures, too, held ground on Tuesday as Dow Jones Futures traded over 200 points higher to 0.8 per cent. The strong sentiments spilled across markets in Asia-Pacific, too, as Japan’s Nikkei 225, Topix, and South Korea’s Kosdaq climbed in the range of 2 per cent to 3 per cent in Tuesday’s trade.

11:46 (IST) 4 Oct 2022 Vedanta shares jump 2%

Vedanta said its alumina production at Lanjigarh refinery decreased by 11% YoY to 4.54 lakh tonnes due to scheduled maintenance, and at Zinc India, reported highest-ever second quarter mined metal production at 2.55 lakh tonnes, up 3 percent YoY, driven by better grades and improved mill recoveries.  In the steel segment, its total saleable production increased by 11% YoY to 3.25 lakh tonnes on account of completion of debottlenecking activities in Q1FY23.

11:18 (IST) 4 Oct 2022 Electronics Mart India IPO subscription update

The initial public offering (IPO) of Electronics Mart India, the fourth largest consumer durables and electronics retailers in India, was subscribed 11 per cent within hours of opening on October 4. The offer garnered bids for 68.4 lakh equity shares against an offer size of 6.25 crore equity shares. Retail investors were at the forefront, subscribing 21 per cent shares of the allotted quota. Non-institutional investors also started putting bids for the issue, buying 3 per cent of the portion set aside for them.

10:54 (IST) 4 Oct 2022 Broader market may remain volatile in short term

“Benchmark index closed negative for eight out of last nine trading sessions ahead of the interest weak global clue, interest rate hike, Rupee depreciation and FII outflow. The broader market may remain volatile in the short term. For benchmark index Nifty, 17400 level may act as an immediate hurdle while on downside, 16700 will act as an important support zone, and breaching this may drag-down the indices towards 16000 in near term. It is recommended investors to continue with a disciplined approach, focus on asset allocation and look at equities from a medium to long term.”~Akhilesh Jat, Category Manager – Equity Research.

10:51 (IST) 4 Oct 2022 HDFC shares gain 2% after Q2 business update

The Bank’s advances aggregated to approximately Rs 14,800 billion as of September 30, 2022, a growth of around 23.5% over Rs 11,988 billion as of September 30, 2021 and a growth of around 6.1% over Rs 13,951 billion as of June 30, 2022.

The Bank’s deposits aggregated to approximately Rs 16,735 billion as of September 30, 2022, a growth of around 19.0% over Rs 14,063 billion as of September 30, 2021 and a growth of around 4.3% over Rs 16,048 billion as of June 30, 2022. 

10:35 (IST) 4 Oct 2022 Easy Trip shares jump 2.5%

Easy Trip shares rose 2.5 per cent as the company is going to consider bonus shares, stock split this month. A meeting of the Board of Directors of the company is scheduled to be held on October 10, 2022, for considering the proposal for increase in Authorised Share Capital, issue of Bonus Shares and/or SubDivision/Split of Share.

10:33 (IST) 4 Oct 2022 Liberty Shoes hits multi-year high on strong outlook; stock rallies 104% in 1-month

In the past one month, the stock price of the footwear company more-than-doubled or zoomed 104 per cent, compared to 1.7 per cent decline in the S&P BSE Sensex. The stock traded close to its record high of Rs 351 apiece, which it had hit on July 22, 2014.

10:33 (IST) 4 Oct 2022 Axis Securities Top stock picks

ICICI Bank, Tech Mahindra, Maruti Suzuki India, State Bank of India, Dalmia Bharat, Federal Bank, Varun Beverages, Ashok Leyland, Astral Ltd (India), Bata India, APL Apollo Tubes, HealthCare Global Enterprises, Praj Industries, CCL Products (India), Coal India and Bajaj finance

10:32 (IST) 4 Oct 2022 Market long-term outlook positive; ‘Buy on dips’

“While the medium to long-term outlook for the overall market remains positive, we could see volatility in the short run with the market responding in either direction. In this context, the current setup is a ‘Buy on Dips’ market. We recommend investors maintain good liquidity (10%) to use such dips in a phased manner to build a position in quality companies (where the earnings visibility is very high) and with an investment horizon of 12-18 months.”~Axis Securities

10:31 (IST) 4 Oct 2022 Nifty to hit 18400 by FY23 end

“We continue to maintain a positive long-term outlook on the market, supported by the favourable structure emerging with increasing Capex enabling banks to improve credit growth. Moreover, the overall expenditure boost in the Union Budget 2022-23 will help deliver broad based growth in FY23. We foresee FY23/24 NIFTY EPS at 820/929 and maintain our NIFTY Mar’23 target of 18,400 unchanged as we value it at 20X FY24 earnings vs. 22X earlier. Though aggressive policy tightening will help in curbing inflationary pressure, persistently elevated Oil and Commodity prices would continue to pose challenges to the market multiple in the next few quarters. The current level of India VIX is below the long-term average, indicating that the market is in a neutral zone.” Axis Securities

10:10 (IST) 4 Oct 2022 M&M Finance soars 10%

Mahindra & Mahindra Finance shares soared 10% as asset quality improved in September quarter

10:09 (IST) 4 Oct 2022 Nifty, Sensex at day’s high

Benchmark indices were trading at day’s high level with Nifty above 17200. The Sensex was up 1,236.32 points or 2.18% at 58025.13, and the Nifty was up 358.40 points or 2.12% at 17245.70.

09:58 (IST) 4 Oct 2022 IT stocks rally

Nifty Information Technology (IT) index rose 2 per cent, led by the L&T Technology Services, Coforge, TCS

09:56 (IST) 4 Oct 2022 Marico bucks market trend, slips 1.5%

Marico share price slipped 1.5% as India business posted low-single digit volume growth. Marico’s India business posted low single-digit volume growth with the 3-year CAGR in high single digits and international business maintained its strong run, delivering double-digit constant currency growth. With this, its consolidated revenue in September FY23 quarter grew in low single digits on a year-on-year basis. Net profit will be further impacted by higher effective tax rate.

09:50 (IST) 4 Oct 2022 DMart share price jump 1.7%

The D-Mart operator, Avenue Supermarts, share price jumped after the company announced standalone revenue for the quarter ended September 2022 at Rs 10,384.66 crore, up significantly by 36% from Rs 7,649.64 crore in the same period last year. The total number of stores as of September 2022 stood at 302.

09:49 (IST) 4 Oct 2022 Metal stocks gain

BSE Metal index added 2 per cent, led by Hindalco Industries, Vedanta, JSW Steel

09:41 (IST) 4 Oct 2022 Bank Nifty surges 1000 pts

Nifty Bank index rose over 2 per cent supported by the IDFC First Bank, IndusInd Bank, Bank of Baroda, Bandhan Bank

09:39 (IST) 4 Oct 2022 Top NSE gainers

Mahindra & Mahindra Financial Services: Rs 197, up 9%

IDFC Firdt Bank: Rs 52, up 6.1%

Delta Corp: Rs 212, up 5.7%

L&T Finance Holdings: Rs 76, up 5.04%

IndusInd Bank: Rs 1208, up 4.51%

09:36 (IST) 4 Oct 2022 Nifty may test 17300

Benchmark index Nifty 50 surges over 300 points to trade at 17230. The index may test 17,300, said Rahul Sharma, Head – Technical & Derivatives Research, JM Financial Services.

09:33 (IST) 4 Oct 2022 Mahindra & Mahindra Financial Services shares surge 9%

Mahindra & Mahindra Financial Services shares surged 9% after the company reported Q2 numbers. The Q2FY23 disbursements were ahead of estimates as disbursements & collections remained strong in September, which were aided by macro tailwinds as per management. The collection efficiency in September rose on a monthly basis, with gross stage-3 at 7% versus 8% in Q1. However, AUM & asset quality were better than street estimates.

09:31 (IST) 4 Oct 2022 For near-term, market sentiments have turned positive

“In the last eight out of ten years Sensex has given positive returns in October. Also, markets have a record of troughing out in October. This may happen this October too. The ‘risk-off, risk-on’ texture of the market is in response to fast changing economic and market signals. For the near-term the market sentiments have turned positive with declining trend in dollar and US bond yields. If this trend continues FIIs will again turn big buyers in India and they will not get stocks cheap. Financials and autos are again set to lead the uptrend since their fundamentals and prospects are strong. Capital goods are likely to join the rally and telecom is on strong wicket.”V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

09:30 (IST) 4 Oct 2022 Banking stock gain

Broad-based gains seen across pockets; Public Sector Bank (PSB) index rises 3 per cent.

09:28 (IST) 4 Oct 2022 Top gainers

All the sectoral indices are trading in the green. Hindalco Industries, IndusInd Bank, Adani Enterprises, Adani Ports and L&T were among major gainers on the Nifty index.

09:24 (IST) 4 Oct 2022 Bank Nifty up 2.5%

“The Bank Nifty has relatively outperformed and ended only 2% lower for September vs. Nifty loss of 3.8%. Axis Bank and Kotak Bank were the worst performers in the second half of September whereas others fell in line with the index. PSU banks’ OI remained lower. In the recent past, we saw cash based selling indicating follow up selling could be seen in the coming few days. The open interest in the Bank Nifty continued to remain lower at the start of the new series and few private banks started the new series near there sizeable Call bases. We expect more of a stock specific actions in the banking space where IndusInd and other midcap private banks should attract buying interest whereas closures in Call writing positions in other leaders should help the index to surpass its Call base.”ICICIDirect

09:20 (IST) 4 Oct 2022 Nifty nears 17200 resistance

Nifty jumps 280 points in opening trade to 17,160. The index is nearing resistance level of 17200,

Sharing documents with RIL: SC to hear Sebi review plea today

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The Supreme Court will hear on Thursday Sebi’s petition seeking review of its earlier judgment that had directed the market regulator to share certain documents which Reliance Industries (RIL) claims will exonerate it and its promoters from criminal prosecution initiated in a case related to the alleged irregularities in the acquisition of its shares between 1994 and 2000.

The Securities and Exchange Board of India (Sebi) has been opposing RIL’s plea and had rejected its request for the “privileged” documents on the grounds that under the Sebi (Settlement Proceedings) Regulations, the accused company had no right to seek information from it.

So far, the market regulator has not shared the three documents – the two legal opinions by former SC judge BN Srikrishna and the former ICAI president YH Malegam’s report which examined the irregularities — that the SC had on August 5 asked it to share “forthwith”, thus prompting RIL to file a contempt petition against Sebi and its authorised representative Vijayan A.

“The duty to act fairly by Sebi is inextricably tied with the principles of natural justice, wherein a party cannot be condemned without having been given an adequate opportunity to defend itself,” the apex court said.

The Ambani firm says Sebi had obviously “misadvised itself” in assuming that its compliance with the judgment is a matter of discretion and on which it can see advice. Even RIL’s contempt petition against Sebi is yet to be taken up for hearing by the SC.

Chartered accountant S Gurumurthy had filed a complaint with Sebi in 2002 alleging fraud and irregularities by RIL, its associate companies and their directors/ promoters, including Mukesh Ambani and his wife Nita; Anil Ambani and his wife Tina; and 98 others in the issue of two preferential placement of non-convertible debentures in 1994.

Sebi had alleged that RIL along with Reliance Petroleum had “circuitously funded the acquisition of its own shares” in violation of Sections 77 and 77A of the Companies Act, 1956 and the market regulator’s then takeover code, among various other regulations.