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Market is encountering strong resistance at higher levels, said Vinod Nair, Head of Research at Geojit Financial Services. Volatility is expected to remain elevated in the short term, given the upside risk of domestic inflation on account of higher crude prices, Nair added
On the stock-specific front, Adani Energy Solutions, Suven Pharmaceuticals, Mahanagar Gas, TVS Motor Company, Hero MotoCorp, Vedanta, Multi Commodity Exchange of India, Maruti Suzuki India, Tata Motors and Delta Corp shares will be in focus on Tuesday (October 3)
Shares of Suven Pharmaceuticals rose 3.83% to close at Rs 561.35 in the last trading session. Private equity firm Advent International said it has completed majority acquisition of Suven Pharma. "Advent acquired 50.1% stake in Suven at an agreed price of Rs 495 per share. An open offer for the remaining 26% of stake will be triggered within stipulated timelines, and the required details will be announced soon," a company statement read
Shares of Adani Energy Solutions, formerly known as Adani Transmission, settled 2.55% lower at Rs 809. The company said Kharghar Vikhroli Transmission Ltd (KVTL), which will enable additional power to be brought into Mumbai and thus enable in meeting the city's growing and future electricity demand, is commissioned. Adani said the project is critical for Mumbai as the existing capacity of the transmission corridor is not sufficient to carry further power into the city
Mahanagar Gas shares rose 1.85% to end at Rs 1,029. MGL said it has reduced CNG price by Rs 3/Kg and domestic PNG (DPNG) by Rs 2/ SCM in and around Mumbai. The revised MRP of CNG will be Rs 76/Kg and domestic PNG Rs 47/SCM effective from midnight of October 1, 2023/ morning of October 2, 2023, it mentioned
Shares of Vedanta settled with 6.84% gains at Rs 222.50. The Anil Agarwal-led firm has announced demerger of its existing businesses into six listed entities
Multi Commodity Exchange of India shares cracked 2.43% to close at Rs 2,049.30 on September 29. MCX said Shankar Aggarwal has completed his tenure on the Board of the company on September 30, 2023. "The shareholders approved the reappointment of Hemang Raja and the appointment of Suparna Tandon as non-independent directors of the company. Their appointments are subject to approval of Sebi," it further stated
Shares of Delta Corp rose 1.35% to end at Rs 142.70. The stock has seen wild fluctuations in terms of price movements. It will also be in focus today as 28% GST on online gaming came into effect from October 1. Earlier, online gaming platforms paid 18% GST on the platform fees
Shares of Maruti Suzuki India settled 0.33% higher at Rs 10,601.70. In an exchange filing, the carmaker said it sold a total of 181,343 units in September 2023. For the period of April-September 2023, it recorded a total sale of 1,050,085 units. The company surpassed half-yearly sales mark of 1 million units for the first time, it further mentioned
Hero MotoCorp shares settled with 2.85% gains at Rs 3,056.95. Hero MotoCorp has announced a revision in the ex-showroom prices of select motorcycles and scooters, effective from October 3, 2023. The price increase will be around 1% and the exact quantum of increase will vary by specific models and markets, it added. Further, the company's general counsel Suresh Jagirdar has decided to move on and pursue entrepreneurial opportunities. Separately, the company said it has registered a growth of around 3% (536,499 units) over the corresponding month of the previous fiscal when it sold 519,980 units in the month of September 2022
Shares of Tata Motors rose 2.67% to close at Rs 630.35. Tata Motors said its sales in the domestic & international market for Q2 FY 2023-24 stood at 2,43,024 vehicles, compared to 2,43,387 units during Q2 FY 2022-23
TVS Motor Company shares shed 0.02% to settle at Rs 1,523. TVS has registered a growth of 6% in September 2023 with sales of 402,553 units as against 379,011 units in the month of September 2022
"Market is due for a short term upward pull back in the near term. It has formed a long legged doji formation, which may see trending activity on either side. Below 19,490, the Nifty could fall to 19,400 or 19,200 levels. On the other hand, above 19,750, it would move to 19,900-20,000 levels. The real trend will emerge only if the index manages to cross the level of 20250, said Amol Athawale, Vice-President - Technical Research at Kotak Securities
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