Latest news with #LemonnMarketsDesk
Business Recorder
4 hours ago
- Business
- Business Recorder
Indian shares muted ahead of RBI policy decision
Indian shares were muted on Friday, ahead of the Reserve Bank of India's (RBI) policy announcement, where a rate cut is widely anticipated. The Nifty 50 fell 0.02% to 24,746.95, while the BSE Sensex lost 0.09% to 81,381.77 as of 9:25 a.m. IST. Ten of the 13 major sectors advanced at the open. The broader, more domestically-focussed smallcaps and midcaps gained about 0.3% each. The RBI is expected to cut its key lending rate by 25 basis points for the third consecutive meeting. The policy decision is due at 10:00 a.m. IST. While a 25 basis point rate cut is likely, the policy announcement will be closely watched for commentary on inflation, growth and the future rate path, said Satish Chandra Aluri, analyst at Lemonn Markets Desk. Indian shares rise on optimism over trade negotiations, potential RBI rate cut Other Asian markets were subdued, while Wall Street equities closed lower overnight as a high-profile dispute between U.S. President Donald Trump and billionaire Elon Musk weighed. Among individual stocks, JSW Energy rose 2% after the company commissioned 281 MW of organic renewable energy capacity to increase its total installed capacity. Ashoka Buildcon gained 3% after getting a letter of intent for traffic management projects in Maharashtra state.
Hans India
3 days ago
- Business
- Hans India
Renewed global trade concerns drag benchmark indices lower
Mumbai: Benchmark equity indices Sensex and Nifty on Monday ended marginally lower, following sluggish trends in global markets amid renewed global trade concerns. Besides, the Russian-Ukraine conflict, sharp jump in Brent crude oil prices and foreign fund outflows dented investors' sentiment, experts noted. After tumbling 796.75 points or 0.97 per cent to 80,654.26 in intra-day trade, the 30-share BSE Sensex witnessed volatile trends and later ended 77.26 points or 0.09 per cent lower at 81,373.75. The NSE Nifty dipped 34.10 points or 0.14 per cent to settle at 24,716.60. During the day, it dropped 224.55 points or 0.90 per cent to 24,526.15. 'Benchmark indices closed lower with marginal losses in a volatile start to June. Markets started the week on a cautious, range-bound note, with Nifty-50 sharply lower at open on fresh trade tensions after the US announced the doubling of steel and aluminium tariffs to 50 per cent. Despite positive domestic cues after surprisingly strong GDP growth in the January-March 2025 quarter, markets were dragged lower in the morning on worsening global headlines ranging from trade to war. 'US and China traded barbs with each other over the weekend while Russia Ukraine conflict worsened after drone attacks. Markets soon staged a strong recovery erasing the sharp morning losses, as investors look forward to RBI meet and widely expected rate cut,' Satish Chandra Aluri, Analyst, Lemonn Markets Desk, said. From the Sensex firms, Tech Mahindra, Tata Steel, Tata Motors, Titan, HDFC Bank, IndusInd Bank, Infosys and Kotak Mahindra Bank were among the biggest laggards. On the other hand, Adani Ports, Mahindra & Mahindra, Power Grid, Eternal and Hindustan Unilever were among the gainers. The BSE midcap gauge jumped 0.58 per cent and smallcap index went up by 0.36 per cent. Among sectoral indices, BSE Focused IT dropped 0.70 per cent, metal (0.58 per cent), teck (0.45 per cent), consumer durables (0.40 per cent), commodities (0.18 per cent) and oil & gas (0.13 per cent). Realty surged 2.38 per cent, services (1.20 per cent), FMCG (0.65 per cent), utilities (0.57 per cent) and power (0.35 per cent). Foreign Institutional Investors (FIIs) offloaded equities worth Rs 6,449.74 crore on Friday, according to exchange data. US President Donald Trump on Friday said he would double tariffs on steel and aluminium to 50 per cent.
The Print
4 days ago
- Business
- The Print
Sensex, Nifty end lower as renewed global trade concerns weigh on sentiments
After tumbling 796.75 points or 0.97 per cent to 80,654.26 in intra-day trade, the 30-share BSE Sensex witnessed volatile trends and later ended 77.26 points or 0.09 per cent lower at 81,373.75. Besides, the Russian-Ukraine conflict, sharp jump in Brent crude oil prices and foreign fund outflows dented investors' sentiment, experts noted. Mumbai, Jun 2 (PTI) Benchmark equity indices Sensex and Nifty on Monday ended marginally lower, following sluggish trends in global markets amid renewed global trade concerns. The NSE Nifty dipped 34.10 points or 0.14 per cent to settle at 24,716.60. During the day, it dropped 224.55 points or 0.90 per cent to 24,526.15. 'Benchmark indices closed lower with marginal losses in a volatile start to June. Markets started the week on a cautious, range-bound note, with Nifty-50 sharply lower at open on fresh trade tensions after the US announced the doubling of steel and aluminium tariffs to 50 per cent. Despite positive domestic cues after surprisingly strong GDP growth in the January-March 2025 quarter, markets were dragged lower in the morning on worsening global headlines ranging from trade to war. 'US and China traded barbs with each other over the weekend while Russia Ukraine conflict worsened after drone attacks. Markets soon staged a strong recovery erasing the sharp morning losses, as investors look forward to RBI meet and widely expected rate cut,' Satish Chandra Aluri, Analyst, Lemonn Markets Desk, said. From the Sensex firms, Tech Mahindra, Tata Steel, Tata Motors, Titan, HDFC Bank, IndusInd Bank, Infosys and Kotak Mahindra Bank were among the biggest laggards. On the other hand, Adani Ports, Mahindra & Mahindra, Power Grid, Eternal and Hindustan Unilever were among the gainers. The BSE midcap gauge jumped 0.58 per cent and smallcap index went up by 0.36 per cent. Among sectoral indices, BSE Focused IT dropped 0.70 per cent, metal (0.58 per cent), teck (0.45 per cent), consumer durables (0.40 per cent), commodities (0.18 per cent) and oil & gas (0.13 per cent). Realty surged 2.38 per cent, services (1.20 per cent), FMCG (0.65 per cent), utilities (0.57 per cent) and power (0.35 per cent). In Asian markets, Japan's Nikkei and Hong Kong's Hang Seng settled lower, while South Korea's Kospi ended in positive territory. Markets in China were closed for a holiday. European markets were trading lower in mid-session deals. US markets ended on a mixed note on Friday. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 6,449.74 crore on Friday, according to exchange data. US President Donald Trump on Friday said he would double tariffs on steel and aluminium to 50 per cent. 'The domestic market continued its consolidation phase for the third consecutive week, influenced by renewed concerns over a potential tariff war and escalating geopolitical tensions between Russia and Ukraine. 'While global uncertainties have led investors to adopt a risk-averse approach, the Indian market has demonstrated resilience, underpinned by robust institutional inflows and selective sectoral strength like FMCG, real estate, and financial stocks,' Vinod Nair, Head of Research, Geojit Investments Limited, said. Meanwhile, India's manufacturing sector growth fell to a three-month low in May, restricted by inflationary pressures, softer demand and heightened geopolitical conditions, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 58.2 in April to 57.6 in May, highlighting the weakest improvement in operating conditions since February. Supportive domestic macro indicators include a potential RBI rate cut, a better monsoon, Q4 GDP data and better GST collection, Nair added. Indian economy expanded at a faster pace than expected in the last quarter of the 2024-25 fiscal, helping clock a 6.5 per cent growth rate in the year that elevated its size to USD 3.9 trillion and held promise of crossing the world's fourth-largest economy Japan in FY26. The Indian economy grew at 7.4 per cent in January-March – the fourth and final quarter of April 2024 to March 2025 fiscal (FY25) – reflecting a strong cyclical rebound that was helped by a rise in private consumption and robust growth in construction and manufacturing. Gross GST collections remained above the Rs 2 trillion mark for the second straight month, rising 16.4 per cent in May to over Rs 2.01 lakh crore. Global oil benchmark Brent crude jumped 3.28 per cent to USD 64.84 a barrel. On Friday, the BSE Sensex declined by 182.01 points or 0.22 per cent to settle at 81,451.01. The Nifty dipped 82.90 points or 0.33 per cent to 24,750.70. PTI SUM BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
India Today
27-05-2025
- Business
- India Today
Borana Weaves lists at 13% premium: Should you hold or book profit?
Borana Weaves made its stock market debut on Tuesday with a strong start, listing at Rs 243 on both the BSE and NSE. This was 12.5% higher than its issue price of Rs 216 per after listing, the share price continued to rise. As of 10:55 am, the stock was trading at Rs 255.10, showing a gain of 18.10%.advertisementThe company's initial public offering (IPO) had received strong interest from investors, and this was reflected in the stock's performance on listing YOU HOLD OR BOOK PROFIT? After the strong listing, investors are now wondering whether to hold the stock or book Garg from Lemonn Markets Desk said, "While short-term investors may consider booking profits following the robust listing performance, long-term investors are advised to adopt a wait-and-watch approach. Close monitoring of the company's execution capabilities and progress on expansion plans will be key before taking a long-term position."Even though the stock opened higher, the listing was slightly below what many in the market had expected. The grey market premium (GMP) had been showing a possible listing gain of 20-22%, with the premium standing at Rs 43-45 before the listing. In fact, on the first day of bidding, the GMP had touched Rs 60, showing very strong IPO saw a very high level of subscription. It was subscribed 147.85 times overall. Retail investors subscribed 200.50 times. Non-Institutional Investors (NIIs) subscribed 237.41 times, while Qualified Institutional Buyers (QIBs) subscribed 85.53 Weaves planned to raise Rs 144.89 crore by issuing 67 lakh new shares. Even before the IPO was opened to the public, the company had collected Rs 65.20 crore from anchor investors. The price band for the IPO was fixed between Rs 205 and Rs 216 per the subscription period, the IPO received bids for 54,54,99,303 shares, though only 36,89,457 shares were available. This means the total bids were worth nearly Rs 11,782.78 crore, which shows the high level of interest among Weaves was set up in 2020. The company makes unbleached synthetic grey fabric. This fabric is a base material used in several industries, especially in clothing, traditional textiles, and home dcor. The fabric is later dyed or printed as per the needs of Capital Advisors was the lead manager for the IPO. Kfin Technologies worked as the registrar and handled the application and allotment process.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)
Mint
27-05-2025
- Business
- Mint
Borana Weaves share price jumps 5% after strong debut on Dalal Street; Buy, sell or hold?
Borana Weaves share price made a strong debut in the Indian stock market today, as the stock was listed at a decent premium. Borana Weaves IPO listing date was today, 27 May, and soon after the listing, Borana Weaves shares were locked at 5% upper circuit amid heavy buying. Borana Weaves shares were listed at ₹ 243 apiece on the BSE and NSE, a premium of 12.50% to the issue price of ₹ 216 per share. Borana Weaves IPO listing was largely in-line with the Street estimates as indicated by Borana Weaves IPO GMP today and analysts. However, with the uptrend in the stock after the listing, analysts share views on what investors should do now. Gaurav Garg, Lemonn Markets Desk noted that Borana Weaves shares quickly hit the upper circuit and surged to trade 18% higher on the first day, reflecting strong investor interest and confidence in the company's fundamentals. 'While short-term investors may consider booking profits following the robust listing performance, long-term investors are advised to adopt a wait-and-watch approach. Close monitoring of the company's execution capabilities and progress on expansion plans will be key before taking a long-term position,' said Garg. Mahesh M. Ojha, AVP Research and Business Development at Hensex Securities recommends short-term investors who entered with a listing gain strategy to consider booking profits in Borana Weaves shares after listing higher. However, if Borana Weaves stock stabilizes with strong volume, partial holding may also make sense, he added. 'For long-term investors, Borana's fundamentals look promising; integrated operations, margin expansion, and niche positioning give it an edge. At a P/E of ~24x at upper-end price, valuations are reasonable. If the company continues to execute well, especially on expansion, it can be a strong long-term compounder,' Ojha said. Arun Kejriwal, founder of Kejriwal Research and Investment Services, said that Borana Weaves share price is currently at a premium despite an average debut. 'It is a bit disappointing when looking at the subscription levels, which were quite high; in comparison, the premium seems rather subdued. Nonetheless, with this price short-medium term gains are factored. So, Borana Weaves shares are no longer cheap but upside from this level could be a bit difficult. However, given that it is listed in the Trade-for-Trade segment, there could still be potential for some gains from these levels,' Kejriwal said. According to Avinash Gorakshakar, Head of Research at Profitmart Securities, Borana Weaves stock price looks attractive for the long term 'Borana Weaves is expected to report a net profit of ₹ 40 crore for FY25. Additionally, with the new unit expected to start by December 2025, we could see strong topline growth in FY26 and FY27 ahead,' Gorakshakar said. Gujarat-based unbleached synthetic grey fabric manufacturer Borana Weaves launched its IPO on May 20, which concluded on May 22. The IPO allotment was finslised on May 23, and Borana Weaves IPO listing date was today, May 27. Borana Weaves IPO was entirely a fresh issue of 67.08 lakh equity shares. The company raised ₹ 144.89 crore from the IPO at a fixed price band of ₹ 216 per share. The public issue was subscribed 148.78 times in total. The IPO was booked 200.53 times in the retail category, while the Qualified Institutional Buyers (QIBs) category was subscribed 87.21 times. The Non Institutional Investors (NII) segment received 237.42 times subscription, as per NSE data. Beeline Capital Advisors Pvt Ltd is the book-running lead manager of the Borana Weaves IPO, while Kfin Technologies is the IPO registrar. At 12:10 PM, Borana Weaves share price was still locked in at 5% upper circuit of ₹ 255.10 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
