Stocks

dani Group Stocks / Adani Group Share Price Updates for August 23, 2024: An Adani Group-owned company is selling shares worth $500 million in Ambuja Cements, according to a term sheet. The holding company, Holderind Investments, is selling a 2.84% stake in the cement company on Friday, with the floor price of the sale set…

The Ambuja Cements stock rose 1.57 per cent on the BSE today as of 10 am, trading at ₹642.85. Other Adani Group stocks showed mixed performance: Ambuja Cements (1.57 per cent), Adani Green Energy (1.73 per cent), Adani Power (1.24 per cent), Adani Wilmar (1.22 per cent), Adani Total Gas (0.38 per cent), Adani Enterprises…

JSW Renew Energy Twenty Limited, a wholly-owned subsidiary of JSW Energy, has signed a Power Purchase Agreement (PPA) with Bangalore Electricity Supply Company Limited (BESCOM) for a 300 MW solar project in Pavagada Solar Park, Karnataka. This will ensure power supply until FY 2044 at a tariff of ₹2.89/KWh. The project is expected to be…

RailTel Corporation of India Ltd. shares jumped 6.74% on the BSE today, trading at ₹502.55, following the announcement of a work order. The company secured a ₹52.66 crore (excluding tax) contract from the Uttar Pradesh Police Recruitment and Promotion Board on August 21, 2024. The order involves providing live CCTV surveillance, Aadhaar-based biometric impersonation control,…

Meghna Infracon Infrastructure Limited has entered into a redevelopment agreement for a residential project in Model Town, Lokhandwala, Andheri (West), Mumbai. The project covers approximately 35,000 square feet and is expected to generate revenue of ₹40 crore. The shares of Meghna Infracon Infrastructure Ltd were trading at ₹516.05, up by ₹12.05 or 2.39 per cent…

Shakti Pumps (India) Limited announced today its first order from Jharkhand, worth ₹9.40 crore (inclusive of GST). The Jharkhand Renewable Energy Development Agency awarded the company a contract for 400 Solar Water Pumping Systems (SWPS) under the PM-KUSUM scheme’s Component-B. The systems will be installed across various locations in Jharkhand. The shares of Shakti Pumps…

Target: ₹1,200 CMP: ₹804.70 Shyam Metalics and Energy (SMEL) management’s pragmatic approach to move up the value chain, diversifying products/metals and backward integration to capture efficiencies make it stand out. The successful foray into new businesses (aluminium and stainless steel products) showcases its execution capabilities, multiple new projects commencing operations in FY25/26 provide strong earnings…

The initial public offering of Orient Technologies witnessed a tremendous response from all category of investors, as the issue was subscribed 151.71 times. The Mumbai-based IT solutions provider Orient Technologies’ initial public offering comprised a fresh issue of ₹120 crore and an offer-for-sale (OFS) of ₹94.76 crore. It came out with a price band of…

Target: ₹1,501 CMP: ₹1,426.20 Pitti Engineering Ltd (PEL) reported numbers, Q1FY25 revenue stood at ₹383 crore (+32.1 per cent y-o-y/+16.7 per cent q-o-q); above our estimates of ₹371 crore. Gross Profit stood at ₹135 crore (+53.9 per cent y-o-y/18.5 per cent q-o-q); above our estimates of ₹113 crore. Gross margins improved by 499 bps y-o-y…

A tectonic shift has been happening in Indian stock markets quietly but decisively in recent months. If the trend in ownership pattern of Indian stocks sustains, which is most likely, the influence of foreign portfolio investors on our stock markets’ movement will be limited going forward. Already, FPIs’ influence has been on the decline on…