Indian Stock Market News 16th October 2024
1. Larsen & Toubro Bags major order from UPMRCL for Agra Metro Phase 1, Line-2 with 15.09 km of elevated viaduct and 14 stations; deals pegged between ₹1,000 crore-Rs 2,500 crore.
2. HDFC upgraded Sudarshan Chemicals to ADD from REDUCE with a target price of 1,161, which cited strategic developments post-Heubach deal.
3. Ashoka Buildcon bags ₹1,126.58-cr contract from BMC to construct flyover arms; the contract is to be completed within 30 months.
4. Shares in Great Eastern Shipping have surged more than 2% on the hopes of Cabinet approval for a new shipping bill expected to give a boost to the shipping industry.
5. Tech Mahindra will announce Q2 FY25 results on October 19, with projected 1.3% revenues YoY and net profit forecasted to rise by 21.7% QoQ.
6. RailTel Corporation wins a work order worth Rs 79.84 cr from MHADA for cloud hosting and managed services, which is scheduled to complete by January 15, 2025.
7. HSBC upgrades Bharti Airtel to ‘buy’ as it ups target price by 47% to ₹1,950 by elevating EBITDA and EPS growth significantly.
8. HSBC maintains hold call on Reliance Industries with a target price of 3,010. HSBC has said that Jio has a great potential in home broadband market.
9. Ambuja Cements, Shekhar Samant and Sachet Mishra report, has faced a block deal of 1.5 crore shares valued at 909 crore hitting the promoter and mutual fund stakes.
10. CLSA upgrades HDFC AMC to Outperform, hikes target price to 4,920, driven by strong AUM growth and improving earnings outlook.
11. Strides Pharma’s associate OneSource Specialty Pharma raised 801 crore from institutional investors as it builds up for its listing.
12. Nomura cut HDFC Life to Neutral from Buy, keeping target at Rs 735 on weak margins and lack of near-term triggers.
13. L&T Technology Services will announce its Q2 FY25 earnings on 16th October 2024.
14. Jefferies cuts BSE to UNDERPERFORM; says risk-reward is unfavourable after 222% move; raises PT to Rs 3,500.
15. Godrej Properties wins 6.5 acres in Kharghar, Mumbai, with ₹3,500-crore revenue potential after becoming the highest bidder.
16. RailTel Corporation gets a project worth Rs 79.84 crore from the Maharashtra Housing & Area Development Authority.
17. Reliance Industries reports a 4.8% y-o-y fall in Q2 net profit, and analysts bring down price targets amid dismal numbers.
18. Wipro shares decline on October 17, energy, manufacturing verticals impacted performance.
19. LTIMindtree GmbH and Nielsen + Partner Unternehmensberater GmbH have formed a merger from October 2.
20. Capital Group sold a 1.7% stake in Mastek for more than Rs 148 crore, taking its shareholding down to 6.24%.
21. Adani Green Energy delays $1.2 billion bond sale on investor yield demands and geopolitical uncertainty; will consider selling afterward.
22. Tata Motors’ premium arm Jaguar MOTORS Land Rover has reported a 36% increase in retail sales to 3,214 units during H1 FY25.
23. Adani Green Energy has acquired two project special purpose vehicles from PFC Consulting Ltd for approximately Rs 38 crore.
24. Bhageria Industries has received a Letter of Award as a solar power developer for 32 MW solar photovoltaic power generating stations under the PM-KUSUM scheme.
25. Vodafone Idea turnover is seen coming around by the Aditya Birla Group chairman after the recent fund raise and capex cycle.
26. Bharti Airtel chairman supports a uniform regulatory framework for satellite companies and requests them to accept telecom licensing regulations and buy spectrum as other such entities.
27. Reliance Jio may knock on the courts if the government again gives away satellite spectrum administratively without an auction.
28. July 2024: Jio, Bharti Airtel, and Vodafone Idea launched India-wide price hikes between 12% and 27% on both pre-paid and post-paid tariffs.
29. Power Finance Corporation has divested Jamnagar and Navinal Transmission projects to Adani Energy Solutions for Rs 38.4 crore.
Top 15 Incredibly Beautiful Women from Across the World
Krystyna Pyszkova, Representing The Czech Republic, Crowned Miss World 2024!
Source: Google Google News NSE BSE
News Desk: News Lounge 24×7
Disclaimer: The views and recommendations made above in news headlines are those of individual analysts or broking companies, and not of News Lounge 24×7. We advise investors to check with certified experts before taking any investment decisions.
Headlines Trending Indian and World: Politics, E-Commerce, Lifestyle, Sports, Health & Entertainment on 21st December…
Headlines Trending Indian and World: Politics, E-Commerce, Lifestyle, Sports, Health & Entertainment on 20th December…
Indian Stock Market - Exploring Lucrative Investment Prospects on December 20, 2024 Inventurus Knowledge Solutions…
Indian Stock Market - Exploring Lucrative Investment Prospects on December 18, 2024 Enviro Infra Engineers…
Headlines Trending Indian and World: Politics, E-Commerce, Lifestyle, Sports, Health & Entertainment on 17th December…
Indian Stock Market - Exploring Lucrative Investment Prospects on December 17, 2024 Mindspace Business Parks…