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Defying the global trend Nifty consolidated in narrow range to settle down with a cut of 1% at 24700 amid mixed Q2 earnings.  

IT Companies – Steady quarter, muted H2

Axis Bank reported mixed performance in Q2FY25 results, with moderation in advance growth and decline in margins were offer by treasury gains and one-off tax inflow thereby aiding earnings.

Bajaj Auto reported steady performance in Q2FY25. Total operating income for the quarter came in at ₹ 13,127, up ~22% YoY amidst 16% YoY growth in volumes at 12.21 lakh units.

Domestic Tyre Space: Gross margin decline on expected lines, commentary awaited amid course correction in rubber prices

Sudarshan chemicals has entered into a definitive agreement to acquire Germany-based Pigments major Heubach Group, in one of the largest outbound deals in the Indian Chemicals context.

Waaree Energies IPO

Newgen is a low code application development platform company. It is an established player in the market of enterprise content management (ECM), business process management (BPM) & customer communications management (CCM).

IT Q2FY25 Preview: Gradual recovery likely; Outlook commentary key ahead

Cabinet Committee on Security (CCS) has approved acquisition of major defence platforms worth Rs 80,000 crore.

SKF India's board has approved the demerger of its automotive and industrial businesses.

JK Lakshmi Cement – Strong focus on capacity expansion and cost control 

Nifty snapped three-week winning streak tracking intensified geopolitical worries and settled the week with a cut of 3% amid heavy sell off by FII's. However, metal space continued to shine tracking Chinese stimulus  

SEBI has converted its consultation paper into regulation by adopting almost every point to discourage F&O trading in its recent regulation.

Monsoon 2024: Above normal at 108% of LPA

Auto September Volumes: 2-Ws continue to outshine, CV’s stage deep decline

Post banning one NBFC for irregularities, RBI has released a circular citing reviewing procedures followed in gold loan business and has asked lenders to adhere to the prescribed norms. In the circular, central bank has highlighted deficiencies including

Banks expected to deliver mixed performance in Q2FY25 with pressure on margins to continue amid challenge on liabilities front, however, moderation in opex could offset the impact keeping return ratio steady.

As per media sources, the steel ministry is seeking a 100% increase in basic custom duty on the import of steel from China.

Buy dips in monthly expiry week as Nifty eying 26200

US Federal Reserve opted for oversized rate cuts

Major domestic indices will go through rebalancing on last working day of September (Friday, 27^th September).

Would PSU bank reap the benefits of reversal in rate cycle

Roads: Expressway Development on a fast lane

IT: Stocks correction amid mixed near-term signals

Telecom: Supreme Court rejects pleas on AGR recalculation

Government targeting 100 million tons of coal gasification by 2030

NTPC Green Energy, a subsidiary of state-run NTPC Ltd, has filed its DRHP (draft red herring prospectus) for an initial public offering (IPO) aimed at raising Rs 10,000 crore. This IPO will consist solely of a fresh issue, with no offer-for-sale component included

Gabriel India (GIL) is a global top-10 shock absorber manufacturer serving 2-W, 3-W, PV, CV, railway and aftermarket segments. It realises ~61% of its sales from 2/3W segment & ~25% from PV space.

Nifty reclaimed new highs as rate cut hopes and benign inflation expectations helped by good monsoon and lower brent prices weighed on sentiments. As a result, Nifty gained 2% for the week ahead of US Fed meeting next week

MF monthly flows remain strong

India’s CPI inflation in August 2024 came in at 3.65% as against market expectation of around 3.5% and as compared to 3.6% in July 2024. While the print is marginally higher from record low print in July, the print is the second lowest of the series.

The Cabinet has approved the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme, allocating ₹10,900 crore over two years to advance adoption of electric mobility in India.

BSE Metal Index was one of the major gainers and was up 2% during the past week.

The US House of Representatives passed the Biosecure Act , which intends to restrict US Pharma companies from doing business with certain Chinese biotech firms with a grandfathering clause of eight years.

Indian general insurance industry has witnessed a moderation in business momentum in the month of August 2024

Life insurance industry reported healthy growth in business momentum.

HG Infra Engineering Ltd is a Jaipur (Rajasthan) based infrastructure company having primary focus on Roads and along with railways and solar sectors.

Nifty snapped three-week winning streak led by global volatility to settle 1.4% lower as fears of US recession resurfaced. Nifty Midcap index corrected 1% while Small cap index closed flat.

US Elections to trigger further volatility

Bajaj Housing Finance is a subsidiary of Bajaj Finance engaged primarily in housing finance is coming up with an IPO raising ₹ 6560 crore, comprising fresh issue of ₹ 3560 crore and OFS of ₹ 3000 crore.

Customer accretion aid steady growth in credit card spends – 2HFY25 could witness gradual revival

Growth recalibration on cards in MFI sector; asset quality trend in Q2 remains key watchful

Banks and NBFC are seeking to diversify funding sources

Solar Power Capacity leading the charge in the Renewable Space

Auto Volumes August 2024: 2-W outshine amid muted OEM show, CV disappoints

Government to mandate Auto Industry to use recycled steel metal, promoting circular economy

Reliance Industries Ltd. (RIL) has been awarded a 10 GWh Advanced Chemistry Cell (ACC) battery storage capacity under the PLI scheme, with an incentive outlay of ~₹3,620 crore. There are 5 other players who are in the waitlist currently which includes Amara Raja as well.

Global steel production is flattish in H1CY24 at 955 MT with India the sole shining star reporting healthy steel production growth of 7.5% YoY in H1CY24 at 74 million tonne (MT).

Kalpataru projects (KPIL) is amongst the leading EPC players in infrastructure sectors such as Power T&D, Buildings & Factories, Oil & Gas, Urban Infra, Water and Railways.