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Sunday, February 09, 2025 | 11:10 AM ISTEN Hindi

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Sensex ends at record closing, rises 211 pts; Nifty holds 18,550; RIL up 3%

CLOSING BELL: The S&P BSE Sensex hit a fresh life-time high at 62,701, and the Nifty 50 registered a fresh summit at 18,614 on Monday

Image SI Reporter New Delhi
stock market broker

3:36 PM

Sensex Heatmap :: RIL, Nestle, Asian Paints lead gains on the index

3:35 PM

CLOSING BELL :: Nifty holds 18,550 at close

3:34 PM

CLOSING BELL :: Sensex ends at record closing peak, rises 200 pts

3:25 PM

COMMENT :: 'Incremental allocations to equities could be done in a staggered manner'

Sentiment and flows currently are acting as a strong catalyst for the markets which touched an all-time high. We are seeing domestic as also  foreign investors being net buyers of equity aiding the momentum. Here on one needs to be balanced as most of the positives are in the prices for now. Incremental allocations to equities could be done in a staggered manner as opposed to lumpsum investments.

Views by: Lakshmi Iyer, CEO- Investment Advisory, Kotak Investment Advisors
3:13 PM

MSTC hits 20% upper circuit, counter logs volume of over 8% of total equity

MSTC plays a very important role as a service provider in e-Commerce and is a market leader in this sector. It has the distinction of serving majority of Central/State Government Departments, PSUs and a few leading Private Institutions for providing transparent, fair & seamless e-Commerce services to its clients. READ MORE

3:02 PM

Tyre stocks on a roll; Apollo Tyres hits record high, Ceat 52-week high

The raw material (RM) and other input costs have started softening after a long spell of unprecedented increase, which is likely to improve margins in the medium term for tyre companies. Read more
Apollo strives to build brands
2:56 PM

GLOBAL MARKETS | European equities tread lower amid weak sentiment

2:49 PM

Adani Port issue: Situation under control in Vizhinjam after protests

After tension gripped Vizhinjam port area following the fishermen community's protest against the Adani Group restarting work on a $900 million transhipment port, the situation on Monday eased with police releasing four of the five people it took into custody. Read more
Vizhinjam
2:39 PM

ALERT | Granules India CFO resigns

2:29 PM

Strong bank loan growth in FY23 despite higher interest rates: Fitch

Fitch Ratings on Monday said India's bank credit will see strong growth in current financial year despite effects of higher interest rates. It said the strong loan growth should benefit net revenue, particularly as it will be coupled with wider net interest margins. Read more
Photo: Shutterstock
2:19 PM

S&P Global Ratings cuts India's economic growth forecast to 7% for FY23

S&P Global Ratings cut India's economic growth forecast for current fiscal year to 7 per cent, but said the domestic demand-led economy will be less impacted by the global slowdown. READ MORE

Illustration: Binay Sinha
2:17 PM

IPO Market :: Strong financials keep Swastika Investmart bullish on Dharmaj Crop

2:11 PM

BSE 500:: Stocks falling notably from the highs of the day

RHI Magnesita and PB Fintech have tumbled over 4 per cent each from their respective highs of the day so far. Macrotech Developers, Tata Motors-DVR and Gujarat State Petronet have also lost notable ground in intra-day trades on Monday. VIEW MORE

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2:10 PM

IPO Market :: Anand Rathi gives 'subscribe' to Dharmaj Crop; here's why

Dharmaj Crop Guard are an agrochemical company engaged in the business of manufacturing, distributing, and marketing of a wide range of agro chemical formulations such as insecticides, fungicides, herbicides, plant growth regulator, micro fertilizers and antibiotic to the B2C and B2B customers.

They also engage in the marketing and distribution of agrochemical products under brands in-licensed by them, owned by them and through generic brands, to Indian farmers through their distribution network. 

They export their products to more than 25 countries in Latin America, East African Countries, Middle East and Far East Asia.

Dharmaj Crop has a diversified portfolio of products and consistent focus on quality and innovation. They have strong R&D capabilities with focus on innovation and sustainability. The

The revenue from operations has grown at a CAGR of 41.02% from FY2020 to FY2022 and Profit after tax (PAT) has grown at a CAGR of 63.30% FY2020 to Fy2022. 

In addition to this, the government’s aim to reduce dependency on China and improve self-sufficiency is expected to support industry’s backward integration and thus its growth.

Pursuant to the setup of this manufacturing facility, profit margins on products would resultantly increase due to backward integration. Considering the future prospect for the company we assign “Subscribe” Rating to this IPO.
2:04 PM

IPO MARKET :: Dharmaj Crop Guard issue nearly sails through on day 1; should you subscribe?

At higher price band, DCGL is demanding a P/E multiple of 27.9x (to its FY22 EPS of Rs. 8.5), which seems to be in-line to the peer average. Thus the issue seems to be fully priced.

However considering the growth outlook and its ability to expand the profitability margin post the commissioning of the agrochemical technical facility (around H2 FY24), we are assigning a “Subscribe with Caution” rating for the issue.

Views by: Choice Broking

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First Published: Nov 28 2022 | 8:19 AM IST