Dollar demand from foreign banks, likely on behalf of custodial clients, blunted the positive effects of lower oil prices and gain in most of the rupee’s Asian peers, traders said.
Kitex Garments Limited (16-10-2024)
Specific events to be monitored for Kitex Garments. Some data are taken from Management AGM presentation.
• Turnover of INR 1,000 Crores in 2024-25 and life time high profit. (Q1 – 195, Q2 – 225, Q3 – 280, Q4 – 300)
• Telangana plant actual operation, management guidance Production starting from Dec’2024 – Warangal (Phase 1), Dec’2025 – Hyderabad (Phase 2)
• Merge Kitex Childrenswear Limited (KCL) Business with KGL, Revenue of INR 7500 Cr. upon full operational capacity for combined entity.
• Political development in Telangana and Kerala.
• Tracking by brokerages house – presently – None.
• FII / DII buy / sell Q to Q update.
Stock market update: Mining stocks up as market falls (16-10-2024)
The 30-share BSE Sensex closed down 318.76 points at 81501.36
Market Wrap: Sensex sheds 319 points, Nifty slips below 25K on earnings woes (16-10-2024)
Indian blue-chip indices Sensex and Nifty extended their losses, closing in the red for the second consecutive day. Sensex and Nifty fell by 0.39% and 0.34%, respectively, due to weak performances from major companies. While major players like M&M and Infosys stumbled, HDFC Bank and Reliance Industries bucked the trend.
Stock market update: Stocks that hit 52-week highs on NSE in today’s trade (16-10-2024)
Precision Camshaft, Stylam Ind, IFB Industries, Rallis India and Gala Precision Engin, hit their fresh 52-week highs during the day.
Quick Wrap: Nifty Auto Index falls 1.27% (16-10-2024)
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Sealmatic India Limited (16-10-2024)
Sealmatic has announced that it has partnered with Saudi Thalate General Manufacturing Industrial Co Ltd (STG), thus; marking a significant step in the company’s expansion into the Kingdom of Saudi Arabia (KSA).
The relationship between KSA and India has grown stronger in recent years, particularly in areas such as trade, energy, investment and strategic partnerships. Thus, exploring the investment opportunities in both countries, focusing on sectors such as infrastructure, mining, renewable energy, agriculture and so on. India, being the world’s third largest consumer of crude oil, depends heavily on KSA to power its economy.
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Gainers & Losers: HDFC AMC, BSE among 6 stocks that hogged limelight on Wednesday (16-10-2024)
In September, mutual funds added 11 new stocks, including Bajaj Housing Finance and P.N. Gadgil Jewellers, showcasing active management strategies aimed at enhancing returns across various portfolios.