shiva sharma

Shares of Wipro fell 4.25 percent, closing at Rs. 390.10, down from their previous close of Rs. 407.40. In comparison to the same quarter last year, Wipro’s Q2 FY24 profit decreased by 0.48 percent to Rs 2,646.3 crore (YoY), from Rs 2,659 crore.

• Additionally, Wipro predicted that on a constant currency basis, the third-quarter (Q3 FY24) IT services revenue may decline by 3.5% to 1.5% sequentially. The IT services company also announced that it has made the decision to consolidate five of its wholly-owned subsidiaries.

• Wipro HR Services India Pvt Ltd, Wipro Overseas IT Services, Wipro Technology Product Services (formerly known as Encore Theme Technologies), Wipro Trademarks Holding, and Wipro VLSI Design Services India are the five completely owned subsidiaries.

• The stock is showing signs of weakness, according to Rajesh Palviya, Head of Technical Research at Axis Securities. Until the stock is able to hold the aforementioned levels on a closing basis once more, the price range of Rs. 398–400 is crucial on the higher side.

Compared to the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages (SMAs), the counter was trading lower. The 14-day relative strength index (RSI) for the counter was 33.46. Oversold is defined as a value below 30, and overbought as a value beyond 70.

CONCLUSION

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The FMCG major also announced the division or split of shares with a face value of Rs. 10 apiece into 10 equity shares with a face value of Rs. 1 along with the announcement of a second interim dividend of Rs. 140 for the fiscal year.

The profit after tax for the September quarter for Nestle India Ltd. increased by 37.28% year over year (YoY) to Rs. 908.08 crore from Rs. 661.46 crore in the same quarter last year.

• When compared to the same quarter previous year, operating revenue increased by 9.45% YoY to Rs 5,036.82 crore ($601.84 billion). According to Nestle India, domestic sales climbed 10.3% for the quarter on a wide basis, with cautious pricing supported by mix and volume.

• The creator of Maggi claimed that Quick Commerce-driven continuous development across product groups amounted to 6.1% of the quarterly sales through its e-commerce channel. It claimed that organized trade continued to produce solid double-digit growth.

• Indian Robusta crop output may be impacted by the weather during harvest. Wheat production may be impacted by the impending winter weather. Healthy milk production is anticipated in the winter, which should keep prices steady, it stated.

• The company’s board of directors declared a second interim dividend for 2023 of Rs 140 per equity share, or Rs 1,349.82 crore, to be paid on and beginning with November 16. In addition, the first interim dividend of Rs. 27 per share, which was paid on May 8, was also received.

Nestle India management’s statements

We have strong and considerable investments across all product categories as we work to increase our brand equity. We reached Rs 5,000 crore in revenue, which was a first for the company and a significant milestone for us.

With a focus on portfolio change, global development, and major infrastructure investment, the out-of-home business continued to produce double-digit growth. 6.1% of the quarterly sales came from e-commerce, which has continued to increase across all channels thanks to Quick Commerce.

CONCLUSION

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The settlement or verdict conclusion cannot be known, according to Dabur India. Any eventual claim settlement sum, according to that statement, is neither probable nor estiable.

Dabur India’s stock fell 3% on Thursday after three of its companies, Namaste Laboratories, Dermoviva Skin Essentials, and Dabur International, were sued in Canadian and American federal and state courts.

The lawsuits were brought about chemicals found in hair relaxer products that were said to have given consumers ovarian cancer, uterine cancer, and other health problems.

Before the United States District Court for the Northern District of Illinois, the federal cases were merged as multi-district litigation, or MDL.

According to the FMCG company, the lawsuits are currently in the pleadings and early discovery stages of litigation, which means the parties are debating whether the plaintiffs’ complaints are sufficient and, in some cases, exchanging demands for information and documents.

The statement continued, “There are various motions pending as well,” stating that it was impossible to predict how a settlement or verdict would affect the parties’ finances.

CONCLUSION

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The government recently gave the state-owned company ‘Navratna’ status, which has a positive impact on the price of IRCON shares. With an annual turnover of Rs 10,750 crore and a net profit of Rs 765 crore on a consolidated basis for the financial year 2022–23 (FY23), IRCON claimed to be the 15th Navratna among CPSEs.

• IRCON International Ltd. shares increased significantly in Tuesday’s trading, following the upward trend of domestic benchmarks. The stock increased 11.68% from its previous close of Rs 146.80 to a day high of Rs 163.95 in value.

With an annual turnover of Rs 10,750 crore and a net profit of Rs 765 crore on a consolidated basis for the financial year 2022–23 (FY23), IRCON claimed to be the 15th Navratna among CPSEs.

• According to the technological setup, support on the counter was between Rs. 134 and Rs. 140. A short-term goal would be Rs 170, according to an analyst.

• According to Jigar S. Patel, Senior Manager – Technical Research Analyst at Anand Rathi Shares and Stock Brokers, “The counter has made a nice base near the 21-day exponential moving average (EMA), which comes around Rs 135-140.”

The 14-day relative strength index (RSI) for the counter was 68.11. Oversold is defined as a value below 30, and overbought as a value beyond 70. The price-to-equity (P/E) ratio of the company’s stock is 16.93, while the price-to-book (P/B) ratio is 2.83.

CONCLUSION

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A 2:1 bonus issue was announced by Gensol, which meant that qualified shareholders would get two bonus shares of the firm for every share they owned on the record date.

• Following the stock’s ex-split trading for the day on Tuesday, shares of Gensol Engineering reached an all-time high. According to a 2:1 bonus issue declared by the corporation, qualified shareholders will receive two bonus shares of the company for every share they held on the record date.

• The record date for the purpose of the bonus issue was set by the corporation as Tuesday, October 17, 2023. It had already disclosed this information through an exchange filing.

• The company announced in a separate exchange filing on Monday that it has received trading approval for 4,05,383 equity shares that were issued on a preferential basis to non-promoter category as part payment of the total consideration due for the acquisition of 1,08,108 equity shares

• For the construction of solar power plants, Gensol Engineering provides engineering, procurement, and construction (EPC) services. Additionally, it offers solutions for the passenger, fleet, and freight customer categories.

CONCLUSION

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Price of KIMS stock: The stock ultimately closed 0.27 percent higher at 1,931.90. 1,40,537 shares totaling Rs 27.33 crore were traded. The market capitalization (m-cap) of the company was Rs 15,436.16 billion.

• During a tumultuous trading day on Monday, shares of Krishna Institute of Medical Sciences Ltd (KIMS) lost a large portion of their early gains. On the NSE, the stock increased 3.73 percent to an intraday high of Rs 1,998.55. Later, it dropped 1.69 percent to a low of Rs. 1,894.05.

• The majority of technical experts continued to be “bullish” on the stock, predicting an upside objective of more than Rs 2,000. The counter’s support level was at Rs 1,891.

• “On daily charts, Krishna Institute witnessed bounce above its medium-term Exponential Moving Averages (EMAs), indicating stock is witnessing buying around the support levels in the counter,” stated Ravi Singh, the founder of DRS Finvest.

• “KIMS looks bullish on the daily charts with strong support at Rs 1,891,” according to AR Ramachandran of Tips2trades. In the short run, the aim of Rs 2,150 might be reached with a daily close over resistance at Rs 1995.

In terms of price, the counter was trading above the 5-day, 10-day, 100-day, 150-day, and 200-day simple moving averages (SMAs), but below the 20-day, 30-day, and 50-day SMAs.

CONCLUSION

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The board of directors of Vikas EcoTech approved the hiring of Price Waterhouse & Co LLP to assess the company’s request to merge with Vrindaa Advanced Materials.

Following the business board’s in-principle acceptance of the merger during Monday’s early trading session, shares of Vikas EcoTech increased by more than 5%.

• According to the business’s exchange filing, the company board approved the evaluation of the consolidation plan with Vrindaa Advanced Materials and selected Price Waterhouse & Co LLP, one of the Big4 advisory firms, to assess the proposal from a tax and regulatory viewpoint.

• Even though shares of Vikas EcoTech have down 13% in the past month, they have returned 35% over the past six months. But throughout the past year and year-to-date (YTD), the stock has remained largely flat or slightly up.

• Vikas EcoTech recently approved the allocation of 16,12,80,000 equity shares at the issue price of Rs 3.10 per equity share to the qualified buyers, which included Radiant Global Fund, Forbes EMF, and Minerva Ventures Fund, in order to raise Rs 50 crore via qualified institutional placement (QIP) route.

• Specialty polymers are produced by Vikas Ecotech for use in a variety of industries, including electrical, infrastructural, packaging, and automotive. The New Delhi-based company has finished raising money to pay off its debt.

CONCLUSION

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Shares of SpiceJet decreased 11.19% in early trading to Rs. 38.72 from their previous closing on the BSE of Rs. 43.60. Today’s opening price for the aviation stock was 42.50 rupees.

• After a report claimed that IndiGo co-founder and former promoter Rakesh Gangwal had no plans to purchase a stake in the low-cost carrier, shares of airline SpiceJet Ltd fell nearly 11% in early trade. Shares of SpiceJet decreased 11.19% in early trading to Rs. 38.72 from their previous closing on the BSE of Rs. 43.60.

• Technically speaking, SpiceJet’s relative strength index (RSI) is 73.2, indicating that the stock is now trading in overbought zone. Shares of SpiceJet are currently trading above their respective 5-, 10-, 20-, 50-, 100-, 150-, and 200-day moving averages.

• Shares of the company were traded for a total of 67.43 lakh dollars, or Rs 27.22 crore, on the BSE. On October 13, 2023, the stock reached a 52-week high of Rs. 43.82, and on May 23, 2023, it reached a 52-week low of Rs. 22.65.

• On October 13, SpiceJet shares increased by about 18% in response to a media report that IndiGo co-founder Rakesh Gangwal was in advanced stages of negotiations to buy a stake in the BSE-listed company. At the conclusion of the June quarter, Gangwal owned 5,10,21,132 shares, or 13.23% of InterGlobe Aviation Ltd.

CONCLUSION

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The counter lost a significant portion of its gains during the course of the session and was last seen trading 5.19 percent higher at Rs 140.80.

At the time that this story was being written, 6.52 lakh shares had been traded on the BSE today. The amount exceeded the two-week average volume of 1.37 lakh shares by a significant margin. The counter’s turnover was Rs 9.34 crore, and it had a Rs 4,531.93 crore market capitalization (m-cap).

• Financially speaking, the business reported total revenue of Rs 810.41 crore for the quarter ended September 30, 2023 (Q2 FY24), up from Rs 692.56 crore for the quarter ended June 30, 2023 (Q1 FY24). As opposed to a profit of Rs 12.75 crore for the period ending June 30, 2023, it reported a net profit of Rs 24.65 crore for Q2 FY24.

• “Texmaco Rail is looking strong on technical setup with the parameters of RSI (Relative Strength Index) and MACD (Moving Average Convergence/Divergence) are in buy zone,” stated Ravi Singh, the founder of DRS Finvest.

• “Texmaco Rail has turned bearish on the daily charts with strong resistance at Rs 146.5,” according to AR Ramachandran of Tips2trades. In the near future, a daily close below the support level of Rs. 137 might cause a precipitous drop to Rs. 115.

• Bourses The Texmaco Rail securities have been added to the long-term ASM (Additional Surveillance Measure) framework by BSE and NSE. Exchanges place equities in short-term or long-term ASM frameworks to alert investors to high share price volatility.

CONCLUSION

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Skipper Limited won orders worth Rs 468 crore in the domestic transmission and distribution segment from Power Grid Corporation and other customers. It got orders worth Rs 120 crore from the International T&D businesses

• Power Grid Corporation of India (PGCIL) and other clients gave Skipper Limited orders worth Rs 468 crore for domestic transmission and distribution (T&D) products, the company reported. Additionally, it received 120 crore rupees worth of business from foreign T&D companies.

• The director of Skipper Limited, Sharan Bansal, expressed his company’s satisfaction with the fresh order inflows of 588 crores from domestic and international T&D sectors.

• According to him, the T&D business consistently received orders, which resulted in a total order inflow of Rs 1,803 crore this year, a 200 percent increase over the same period last year.

• “We expect the momentum to continue in T&D ordering in both Domestic and International markets with some more wins” in the years to come, Bansal stated.

• Power transmission and distribution, telecom, and railway constructions are all produced by Skipper Limited.

• The company claims that its footprint extends to places like North America, West Asia, Africa, and Australia.

CONCLUSION

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