News for Kesoram Industries Limited (KESORAMIND.NS)

Shares of UltraTech Cement are expected to stay in focus after the companys board approved raising up to Rs 1,000 crore through the allotment of unsecured, redeemable non-convertible debentures (NCDs) on November 26, 2024.

Ambuja Cements, owned by Adani Group, saw an investment boost from GQG Partners, increasing their stake to 2.04%. Shares rose 4% following the deal. The Adani Group plans to raise Rs 30,000 crore by selling shares in its listed firms. Adani is aggressively expanding its cement business to challenge market leader UltraTech.

The court also held that royalty paid by mining operators to the central government is not a tax

India Cements stock hit a new high of Rs 343.85, surging 6% in an otherwise volatile market. The stock has zoomed 50% since June 25.

After Lok Sabha Elections and Assembly elections in some States, the centre and States are expected to retain their focus on development agenda, India Cements had said on sector outlook.

Brokerages Motilal Oswal and Emkay Global have maintained their positive stance on the cement sector, while Nuvama has reiterated a neutral call.

Manjushree Khaitan, the chairperson of Kesoram Industries Limited and a prominent figure in the B K Birla Group, passed away at the age of 65 in her Kolkata home after a brief illness. She had been a member of the Kesoram Board since October 1998 and assumed the role of chairperson in July 2019 following the death of her father, Basant Kumar Birla. Beyond her corporate leadership, Khaitan was deeply involved in education, particularly through her association with the Ashok Hall Group of schools, where she focused on empowering underprivileged girl children.

TCPL, ICICI Pru Life, Tata Elxsi, M&M Finance, 360 One WAM, MCX, Cyient DLM and Huhtamaki India more will announce their earnings for the March 2024 quarter later today.

Reliance Industries, Hatsun Agro Products, Tejas Networks and Aditya Birla Money are among companies that will announce results for the March quarter today.

Stocks to watch: Check out the companies making headlines before the opening bell today, on April 5, 2024.

In terms of levels, immediate resistance for Nifty 50 is notable at 22,800, a significant level on higher time frames, with further resistance observed at 23,170 and 23,400.

Nifty futures on the NSE International Exchange traded 17.50 points, or 0.08 per cent, lower at 22,026, hinting at a negative start for the domestic market on Monday.

A short build-up was seen in 57 stocks including Metropolis Healthcare, HDFC Life Insurance Company, HDFC Asset Management Company, Balrampur Chini Mills, and Container Corporation of India.

Stocks to watch out for today: Delta Corp, Vedanta, TCS, Infosys, HCL Tech, RVNL, Patanjali Foods, Vascon Engineers, Pricol, Suzlon Energy and more

A short build-up was seen in 50 stocks, including ICICI Prudential Life Insurance Company, Bank of Baroda, IndiaMART InterMESH, Balrampur Chini Mills, and Coforge.

A short build-up was seen in 70 stocks, including Delta Corp, Federal Bank, Power Grid Corporation of India, Chambal Fertilizers and Bata India. An increase in OI along with a price fall indicates a build-up of short positions.

Stock Market News: Trends in the SGX Nifty indicate a positive opening for the broader index in India with a gain of 21 points on Monday despite sustained selling by FPIs and on the back of upbeat cues from the US markets and positive trading in Asian markets

Based on the OI percentage, we have seen a long build-up in 83 stocks on Friday, including Persistent Systems, Federal Bank, Rain Industries, Aditya Birla Fashion & Retail, and MCX India.

Today, on August 10, the Indian equity markets have remained mostly flat. Nifty closed at 17,423.65 points today. Later, Nifty 50 closed at 17,534.75 points, up by 0.53%, while Sensex closed at 58,817.29 points, down by 0.06%. Major banking indices have shown a mixed trend today. Nifty PSU Bank fell 0.46%, and Nifty Private fell 0.54%. However, Nifty metal surged by 1.62% today.