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Kumar Rakesh from BNP Paribas predicts weaker auto sales in September due to Pitru Paksha, with a potential rebound in October. The passenger vehicle industry shows low single-digit growth, while the electric two-wheeler market is gradually expanding. Tractor sales are expected to improve, driven by a normal monsoon and rural economy recovery.

As of 30-Jun-2024, promoters held 46.64 per cent stake in the company, while FIIs held 14.73 per cent and domestic institutional investors had 1.41 per cent.

As per the recent update, KVS Manian (ex Joint MD, Kotak Mahindra Bank) has taken over as the MD & CEO of Federal Bank (FB) last week and at FB, Manian inherits a strong platform – a robust deposit franchise with strong asset quality which, Nomura believes, has not been fully appreciated at current valuations.

​Market looks risky. Market looks dangerous. One should be a little more conservative, cautious. But I would say that given that we are getting into another gush liquidity from interest rate cuts elsewhere, I think things have turned around.

The offer is being made through the book-building process, wherein not more than 50% of the net offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% of the net offer shall be available for allocation to non-institutional bidders, and not less than 35% of the net offer shall be available for allocation to retail individual bidders.

A total of 4,193 shares changed hands on the counter till 12:42PM (IST)

JM Financial has buy call on Jindal Stainless with a target price of Rs 910.

NeoPolitan Pizza and Foods has launched its SME IPO, aiming to raise Rs 12 crore through a fresh equity issue of 60 lakh shares. The price is set at Rs 20 per share, with the subscription period closing on October 3. The company operates in the restaurant and agricultural commodities trading sectors.

Sandip Sabharwal discusses his investment strategy, highlighting a focus on capital goods, infrastructure, and defense sectors. He plans to deploy cash selectively as stock corrections take place. Sabharwal also shares cautious views on the IT and paint sectors, suggesting that investors wait for clearer signals before making significant moves in these segments.

I will give you a thumb rule. Largecaps practically everybody agrees are priced fine. They are at 10-year averages. Now, we believe if at any time one can make a case for markets to trade higher than long period average is now earnings growth is more than long period average and discount rate, the other variable that goes in has started to come off, so both the variables that go in are there.