Waaree Energies is set to debut on the exchanges on Monday, with shares trading at a grey market premium (GMP) of Rs 1,225. The stock is expected to list at an 81% premium over the upper price band of Rs 1,503. However, the GMP has declined from over 100% recently, indicating potential volatility in its performance.
Mcap of 9 of top-10 most valued firms drops Rs 2 trn as markets tumble (27-10-2024)
Nine of the top-10 most valued firms together lost a whopping Rs 2,09,952.26 crore from market valuation last week, in line with weak trends in equities, with Hindustan Unilever and Reliance Industries Limited taking the biggest hit.
Last week, the BSE benchmark tanked 1,822.46 points or 2.24 per cent.
“The dismal Q2 earnings so far have aggravated the investors’ woes while persistent FII selling continued to create havoc in the market,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
From the top-10 pack, HDFC Bank emerged as the only winner.
The market valuation of Hindustan Unilever eroded by Rs 44,195.81 crore to Rs 5,93,870.94 crore.
Reliance Industries’ valuation tumbled Rs 41,994.54 crore to Rs 17,96,726.60 crore.
State Bank of India’s market valuation plummeted by Rs 35,117.72 crore to Rs 6,96,655.84 crore, and that of Bharti Airtel tanked by Rs 24,108.72 crore to Rs 9,47,598.89 crore.
The market capitalisation (mcap) of Tata Consultancy Services (TCS) dr
Swiggy cuts IPO valuation again to $11.3 billion; BlackRock and CPPIB to invest, sources say (27-10-2024)
The $1.4 billion IPO is set to be India’s second-largest this year
M-cap of nine of the top 10 most valued firms plunges Rs 2 lakh crore as Sensex, Nifty tumble (27-10-2024)
“The dismal Q2 earnings so far have aggravated the investors’ woes while persistent FII selling continued to create havoc in the market,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
Swiggy cuts IPO valuation again, to $11.3 bn, BlackRock and CPPIB to invest (27-10-2024)
Swiggy does not want a bad IPO, a source said. Its last funding round, led by Invesco, valued it at $10.7 billion in 2022
Q2 results this week: Airtel, Maruti Suzuki, L&T among 392 companies to announce earnings (27-10-2024)
The second quarter earnings season for India Inc. is expected to be muted, with possibly the slowest growth in over four years. Major companies like Bharti Airtel, Maruti, Suzlon Energy, L&T, Dabur India, and Cipla will announce their results this week, highlighting key financial milestones.
FII activities, global trends drivers for mkt movement this week: Analysts (27-10-2024)
Equity investors will track the trading activity of foreign investors, global trends and ongoing earnings results for further cues, and benchmark indices may continue to witness consolidation in a holiday-shortened week amid the monthly derivatives expiry, analysts said.
Markets fell sharply last week amid massive foreign capital outflows and dismal Q2 earnings so far.
Weakness in the markets might continue in the near term amid cautiousness among investors ahead of the US presidential election early next month, an expert said.
Equity markets will remain closed on Friday for Diwali, but a special trading window will be open for one hour in the evening.
Leading stock exchanges BSE and NSE will conduct a one-hour special ‘Muhurat Trading’ session on the occasion of Diwali on November 1, marking the start of the new Samvat 2081.
Vinod Nair, Head of Research, Geojit Financial Services, said, “We expect the consolidation to continue in the short term. A reversal in trend will depend on