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Premier Poly, Archidply Decor, FDC Ltd, ADF Foods and Optiemus Infra, hit their fresh 52-week highs at 11:10AM.

The Economic Times

Stock market update: Stocks that hit 52-week highs on NSE

Premier Poly, Archidply Decor, FDC Ltd, ADF Foods and Optiemus Infra, hit their fresh 52-week highs at 11:10AM.

Infra

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Thu, Sep 12, 2024

Stocks News

Q2 Update: IT giants Infosys, Wipro to announce Sept quarter results on THESE dates, dividend ahead

Q2 Update: Infosys and Wipro will conduct board meetings on October 17 to consider their July-September quarter results.

INFY

WIPRO

D-Street investors richer by Rs 110.57 lakh crore so far in 2024 amid record-breaking rally in markets

The BSE Sensex jumped 12,026.03 points or 16.64 per cent so far in 2024, giving handsome returns to investors. The benchmark scaled its all-time peak of 85,978.25 on September 27, this year, breaching many milestones.

BSE

Zydus Lifesciences receives USFDA approval to produce prostrate cancer drug

Zydus Lifesciences on Wednesday said it has received approval from the US health regulator to produce a generic prostate cancer treatment drug. The company has received tentative approval from the US Food and Drug Administration (USFDA) to manufacture Enzalutamide tablets (40 mg and 80 mg), the drug maker said in a regulatory filing. Enzalutamide tablets are androgen receptor inhibitors indicated for the treatment of patients with castration-resistant prostate cancer and metastatic castration-sensitive prostate cancer. The product would be manufactured at the Group's manufacturing site at SEZ, Ahmedabad. As per IQVIA MAT July 2024 data, Enzalutamide tablets (40 mg and 80 mg) had annual sales of USD 1,417.2 million in the US. The Zydus group now has 400 approvals and has so far filed over 465 Abbreviated New Drug Application (ANDAs) since the commencement of the filing process in FY 2003-04, it said.

ZYDUSLIFE

SBI plans to add 600 branches in network during FY25: Chairman Setty

State Bank of India (SBI) is planning to open 600 branches across the country in the current financial year in a bid to tap business opportunities in emerging areas including large residential townships. "We have strong branch expansion plans...this would be mainly focused on emerging areas. A lot of residential colonies are not covered by us. Around 600 branches is something we are planning in the current year," SBI Chairman C S Setty told PTI in an interview. The country's biggest lender opened 137 branches last fiscal. Of the total, 59 new rural branches were inaugurated. SBI has a network of 22,542 branches across the country as of March 2024. Apart from branch presence, SBI has 65,000 ATMs and 85,000 business correspondents. "We serve about 50 crore customers and we take pride in saying that we are the banker to every Indian, and, more importantly, to every Indian family," he said. He also said it would be his endeavour to transform SBI into the best bank, the most valued ba

SBIN

INDIANB

TOTAL

KRN Heat Exchanger and Refrigeration IPO: GMP indicates strong debut for shares on NSE, BSE tomorrow - 3 October

KRN Heat Exchanger and Refrigeration IPO: The subscription period for the IPO ended on 27 September, with the listing scheduled for 3 October on NSE and BSE. The GMP indicates strong debut expectations by market participants.

BSE

Coal India explores leasing options to monetise 4 old washeries

The move aims at optimising asset utilisation

COALINDIA

Adani Group merges two step-down subsidiaries with Adani New Industries

Adani New Industries Ltd (ANIL) is a subsidiary of Adani Enterprises Ltd that undertakes low-carbon projects.

ADANIENT

Grover Zampa sharpens focus on premium wines after ₹90 cr capital boost

Grover Zampa Vineyards is transitioning to premium wines, launching several high-end varieties to capture growing consumer demand

FOCUS

Breakout Stocks: BASF India, Deepak Fertilizers and Bombay Burmah hit fresh record highs on Tuesday; what should investors do?

Indian market closed in the red for the third consecutive day in a row on Tuesday. Benchmark indices closed flat with a negative bias.

BASF

Nike's quarterly sales and profits slump as it faces shoppers' sluggish demand for its products

Nike has been known for its innovation but in recent years, analysts have said that it has lost its focus on coming up with cool products.

FOCUS

ET IN THE CLASSROOM: Overnight Funds

Many investors tend to keep huge sums idle in savings bank accounts to invest in case of a sharp correction in stocks or to buy a stock they identify with. Wealth managers believe it is better to park this money in an overnight fund. It can also be used to run a systematic transfer plan to invest in an equity fund.

WEALTH

Afcons cites strong record, focus on avoiding bad projects for market edge

The over six-decade-old company follows a stringent risk management process which has helped it deliver more than four-fifths of the projects it undertakes ahead of schedule. On average, more than half of such projects within the industry see a delay.

FOCUS

Zero brokerage plans nearing expiry

Angel One, India's third-largest brokerage by client count, introduced a flat fee of ₹20 or 0.1% of turnover (whichever is lower) on cash market transactions starting November 1, anticipating a drop in revenues from the derivative segment. Previously, these transactions were free of charge.

ANGELONE

Paddy procurement at MSP underway in Haryana, over 46,000 MT procured

The Haryana government has commenced paddy procurement at the Minimum Support Price and so far over 46,000 metric tons of the crop have been procured. According to an official statement issued on Tuesday evening, the paddy procurement began from September 27. "Till date, over 46,000 metric tons (MT) of paddy have been procured from 241 mandis and purchase centers across the state, benefiting more than 7,500 farmers," it said. "Today alone, approximately 1,200 MT of paddy was lifted," it said. In addition, the government is ensuring timely payments to farmers, having disbursed Rs 2 crore directly into their bank accounts, according to the statement. From Tuesday, the procurement of bajra has also commenced at the Minimum Support Price. The state government has opened 91 mandis and purchase centres specifically for this purpose, with over 25,000 quintals of bajra already purchased from farmers of the state. The procurement process is running smoothly and is scheduled to continue un

SBIN

Stock market holiday: NSE, BSE shut today on account of Gandhi Jayanti

Stock market holiday: The Indian stock markets will be closed on Wednesday, October 2, 2024, to commemorate Gandhi Jayanti, a national holiday honouring the birth of Mahatma Gandhi.

BSE

Plutus Wealth increases shareholding in SpiceJet, buys Rs 50 cr worth share

Plutus Wealth Management on Tuesday raised its holding in domestic carrier SpiceJet by acquiring additional shares for Rs 50 crore through an open market transaction. According to the bulk deal available with the BSE, Plutus Wealth Management purchased 75 lakh shares or 0.58 per cent stake in Gurugram-headquartered SpiceJet. The shares were bought at an average price of Rs 66.70 apiece, taking the transaction value to Rs 50.02 crore. Details of sellers of SpiceJet's shares could not be identified on the BSE. Shares of SpiceJet jumped 6.95 per cent to close at Rs 68.13 apiece on the BSE. On Monday, Plutus Wealth Management bought 85 lakh shares, amounting to a 0.66 per cent stake in domestic carrier SpiceJet for Rs 51 crore.

BSE

WEALTH

WORTH

Solex Energy plans to invest Rs 8,000 crore in solar manufacturing capacity

Solex Energy Ltd plans to invest over Rs 8,000 crore by 2030 to enhance solar technology, increasing its cell production to 5 GW and module capacity to 15 GW. The new Tapi-R solar modules feature N-Type TOPcon technology with high efficiency, supporting India's 500 GW non-fossil fuel goal.

SOLEX

Venus Mission to take off in March 2028, carry 19 payloads

Being developed at a cost of Rs 1,236 crore by the Indian Space Research Organisation (Isro), the VOM will explore the planet's atmosphere, surface, and its interaction with the Sun. Key scientific objectives include examining dust in the Venusian atmosphere, mapping its surface topography in high resolution, studying the solar X-ray spectrum near Venus, analyzing Venusian airglow, and investigating sub-surface characteristics, said the space agency on Tuesday.

SPECTRUM

Coal India’s September production falls marginally by 1% to 50.9 MT as heavy rain impacts output

The world’s largest coal producer witnessed a 1.4 per cent y-o-y drop in coal offtake to 54.4 MT in the last month, according to a stock exchange filing.

COALINDIA

RAIN

CCI clears Rs 13,630-cr Mankind Pharma-Bharat Serums Vaccines deal

The Competition Commission of India has approved Mankind Pharma's Rs 13,630 crore acquisition of Bharat Serums and Vaccines. This acquisition, which includes a 100% stake, advances Mankind Pharma's position in the women's health and fertility drug market and grants access to critical care products with established R&D platforms.

MANKIND

Dabur India says heavy rain, floods impacted demand trends in Q2

In its Q2 FY25 quarterly preview, the FMCG major said it expects to post “a mid-single-digit decline” in consolidated revenue due to lower primary sales

DABUR

RAIN

FPIs’ total secondary market investment in 2024 turns positive with big Sept inflows

A strong net inflow by foreign portfolio investors (FPIs) in September has turned their total secondary market investment in Indian equities positive for the calendar year so far to $4,140.3 million (Rs 34,554 crore) compared with a net outflow of $1,417 million (negative Rs 11,998 crore) at the end of August.

TOTAL

Tata Motors records 12% decline in Q2 sales

During the quarter, total sales include domestic sales of 2,09,861 units, lower by 11%. Domestic passenger vehicle sales declined 6% to 129,930 units while domestic commercial vehicle sales declined 19% to 79,931 units.

TATAMOTORS

TOTAL

Adani flagship’s $1.3 billion share sale said to start next week

Gautam Adani’s Adani Enterprises Ltd. plans a $1.3 billion share sale via a qualified institutional placement starting as early as Oct. 7. The move follows a short-seller's 2023 allegations of fraud, which led to a significant stock drop. The share issue aims to signal investor confidence and revive expansion efforts.

ADANIENT

Aurobindo Pharma secures FDA nod for Cephalexin tablets to treat infections

Shares of the pharma company ended 1.3% lower at ₹1,442.00 on Tuesday.

AUROPHARMA

Stock market update: FMCG stocks up as market falls

The 30-share BSE Sensex closed down 33.49 points at 84266.29

BSE

Aurobindo Pharma receives USFDA approval for Cephalexin Tablets

Aurobindo Pharma has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Cephalexin Tablets USP, 250 mg and 500 mg, which is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Keflet Tablets, 250 mg and 500 mg, of Eli Lilly and Company.

AUROPHARMA

Gainers & Losers: NALCO, Paytm among 6 stocks in limelight on Tuesday

Indian benchmark indices closed nearly flat on Tuesday, with IT gains offset by losses in Reliance Industries and HDFC Bank. The BSE Sensex fell 33 points, and NSE Nifty slipped 14 points.

Coal India still at 40% of full year target as production drops for second straight month

Coal India generally reports lower production in the first half of a financial year due to the monsoon months, while output picks up in the later half of the year.

COALINDIA

Bharti Airtel, Bandhan Bank among 5 stocks with long unwinding

Long unwinding happens when stocks or positions owned for a longer period are sold either to book profit or to exit it in anticipation of impending bearishness.

BHARTIARTL

BANDHANBNK

Tata Motors total sales drop 11% YoY in Sept'24

The car major's domestic and international vehicle sales declined 11.52% to 2,15,034 units in September 2024 as against 2,43,024 units sold in September 2023.

TATAMOTORS

TOTAL

Bajaj Group stock zooms 20% after fixing record date for demerger

Hercules Hoists has fixed October 11, 2024 as the record date for the purpose of determining the eligible shareholders to whom the securities of Indef Manufacturing would be allotted

HERCULES

Is celebrity overdose killing brands? HRX, Kay Beauty shine; some struggle

An analysis of celebrity-backed brands in India shows mixed results. While some, like Katrina Kaif's Kay Beauty and Hrithik Roshan's HRX are thriving, Virat Kohli's WROGN reports revenue decline

CELEBRITY

Vipul Organics hits all-time high after board OKs Rs 25 cr right issue

Vipul Organics spurted 19.04% to Rs 310.40 after the company's right issue committee approved raising Rs 25 crore through right issue of equity shares.

VIPULLTD

Magellanic Cloud Ltd leads losers in 'A' group

Phoenix Mills Ltd, Welspun Corp Ltd, Westlife Foodworld Ltd and Intellect Design Arena Ltd are among the other losers in the BSE's 'A' group today, 01 October 2024.

BSE-listed penny stock jumps 16% ahead of NSE debut. Details here

BSE-listed penny stock, U Y Fincorp, witnessed a significant surge in its share price ahead of its upcoming listing on the NSE.

BSE

This microcap stock surges 20% on announcing 1:3 rights issue

Vipul Organics shares surged 20% after announcing a rights issue. The company plans to raise up to Rs 25 crore through the issue, which is priced at a 79.3% discount to the previous closing price. The funds will be used for capacity expansion at its Sayakha facility.

VIPULLTD

PNB declines 2.05% as Sensex slides

The stock traded at a P/E multiple of 9.8, while the price-to-book value ratio stood at 1.34.

PNB

Birla Estates sells 95% of Bengaluru project in 24 hours, stocks surge

This success follows the performance of Phase I, which secured around ₹500 crore in bookings within 36 hours of its launch. The total booking value for both phases has reached approximately ₹1,100 crore

BIRLACORPN

TOTAL

Polycab India share price soars 6%, hits record high on positive outlook

Polycab India share surpassed its previous high of Rs 7,330 touched on June 25, 2024.

POLYCAB

Shares of Marico fall as Nifty drops

On the technical charts, the 200-day moving average of the stock stood at Rs 584.88.

MARICO

Colgate-Palmolive shares down 0.21% as Nifty drops

A total of 6,600 shares changed hands on the counter till 01:38PM (IST).

COLPAL

TOTAL

Share price of Divis Labs falls as Sensex gains 8.08 points

A total of 4,787 shares changed hands on the counter till 01:33PM (IST)

TOTAL

Can the Nifty see levels of 27,000 in October? A chartist answers

There is a cautious approach due to strong sector rotation, as traders look for global cues to guide market direction early in the series. This mixed sentiment may lead to volatility in October.

GLOBAL

IIFL Securities zooms 73% in 2 mths, hits new high on strong earnings hope

IIFL Securities' stock hit a new high of Rs 372, after having skyrocketed 203 per cent so far in financial year 2024-25.

IIFL

IIFLSEC

IT Department serves tax demand notice to Jubilant FoodWorks; stock down 4%

Jubilant FoodWorks share price dipped as much as 3.83 per cent at Rs 655 per share on the BSE in Tuesday's intraday trade

BSE

JUBLFOOD

Swiggy's street fight with Zomato is the one to watch out for in q-comm arena

Swiggy IPO: Swiggy plans India's largest IPO for Rs 10,000 crore, aiming to dominate the quick commerce market. Competing with Zomato, Swiggy's Instamart aims to expand despite current losses, signaling intensified market competition. Concerns arise about a potential duopoly affecting pricing and service quality.

ZOMATO

SERVICE

Zen Technologies gains on securing ₹46-crore annual maintenance contract from Defence Ministry

The contract covers the maintenance of simulators developed by Zen for a five-year period.

ZENTEC

Sun Pharma strikes a global deal with Philogen for cancer immunotherapy, Fibromun; shares dip

The collaboration, disclosed on October 1, 2024, grants Sun Pharma the worldwide rights to market Fibromun, which is in the final stages of clinical trials for treating soft tissue sarcoma and glioblastoma

GLOBAL

Mach Conferences And Events shares jump 9% as promoter raises stake in SME stock

Promoter Adit Bhatia purchased a total of 34,800 equity shares of Mach Conferences And Events in five tranches from September 25 to September 30.

TOTAL