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Share Market News Today | Sensex, Nifty, Share Prices LIVE: The benchmark equity indices opened Thursday’s trading session in the mixed territory. The NSE Nifty 50 opens down by 17.05 points or 0.07% at 25,035.30, while the BSE Sensex gains 37 points or 0.05% to 81,822.56 in the opening trade. The broader indices opened in mixed territory. Bank Nifty index opens marginally lower by 40.10 points or 0.08% to settle at 51,103.75.

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Benchmark equity indices opened Thursday's trading session in mixed territory.

14:19 (IST) 29 Aug 2024
Stock market today live updates : Premier Energies IPO

The Rs 2,830.40 crore initial public offering (IPO) of Premier Energies, a leading solar cell and module manufacturer, opened for subscription on August 27, 2024, and will remain open until August 29, 2024. The IPO is priced between Rs 427 and Rs 450 per share. Ahead of the launch, Premier Energies secured Rs 846 crore from anchor investors, indicating strong interest in the offering.

14:11 (IST) 29 Aug 2024
Stock market today live updates : Baazar Style Retail IPO opens tomorrow

Baazar Style Retail's initial public offering (IPO) is set to open for subscription on Friday, August 30, and will remain open until Tuesday, September 3. The company aims to raise Rs 834.68 crore through this book-built issue, which includes a fresh issue of 38 lakh shares valued at Rs 148 crore and an offer for sale (OFS) of 1.8 crore shares amounting to Rs 686.68 crore.

14:02 (IST) 29 Aug 2024
Stock market today live updates : TCS shares in focus

TCS has extended its partnership with international fashion retailer Primark to enhance the company’s technology operations over the next five years. The expanded collaboration, announced today, is designed to support Primark’s global growth ambitions.

14:01 (IST) 29 Aug 2024
Stock market today live updates : Experts on RIL shares

Commenting on the Reliance Industries share Prashanth Tapse, Senior VP (Research), Mehta Equities said that Markets always eye big hopes from Mukesh Ambani as we have seen historically known for making big announcements at Reliance AGM. High focus on a clear blueprint value unlocking from the Jio IPO along with Retail IPO demerger and followed by a concrete roadmap on the progress of new energy projects will also be in focus during the AGM. On the oil and chemical segment markets are also expecting updates on stake sale prospects.

Tapse also added If we see stock performance pre and post AGM in the last 3 years, based on high hopes pre AGM moves are always positive like the way we are witnessing it from the last 15 days while post AGM historically we have seen negative trends due to fall in hopes. Overall we expect no big bang price action announcement from the AGM due today.

"Technically the stock is trading on a neutral make or break level, any close above 3060 we can see price raising towards 3100 and any close below 2990 we can see breakdown towards 2930 levels. We are on wait and watch strategy,” Tapse further said.

13:52 (IST) 29 Aug 2024
Stock market today live updates : RIL Jumps over 2% after announcement of 1:1 bonus

Reliance Industries shares gained over 2% after the company announced it would consider a 1:1 bonus issue on September 5. Mukesh Ambani's speech is set to begin shortly.

13:51 (IST) 29 Aug 2024
Share market today live updates : Reliance Industries to consider bonus shares

Reliance Industries to consider 1:1 bonus shares on September 5, 2024.

13:48 (IST) 29 Aug 2024
Stock market today live updates : UBS on REC and PFC

UBS has initiated coverage on PFC with a ‘Buy’ rating and a target price of Rs 670 per share. Similarly, REC also receives a ‘Buy’ recommendation with a target price of Rs 720 per share.

UBS notes that while both REC and PFC share similar growth drivers and trajectories, REC is expected to grow slightly faster.

However, REC is currently trading at a nearly 35% premium to PFC’s standalone multiple, compared to a historical premium of 25%. As a result, UBS has a relative preference for PFC over REC.

13:39 (IST) 29 Aug 2024
Share market today live updates : JM Financial on gold movement

"Gold futures have recovered most of the previous session's dip, on bargain buying at lower levels after reports of renewed buying from China and addition by ETF's investors, while safe-haven demand and chart-based buying kept sentiments upbeat. The focus for the day will be on the U.S. GDP numbers, weekly jobless claims, and housing data. On the chart, prices are holding above their 100-day SMA around 71600, and the 50-day SMA around 71200, while on the higher side resistance is seen at 72300," said Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services.

13:34 (IST) 29 Aug 2024
Stock market today live updates : Premier Energies IPO last day

Premier Energies IPO will close on August 29, it was subscribed to a total of 6.72 times more than the offered shares as of the second day, August 28. The retail category was booked 4.37 times during the same period. The NII category was booked 19.35 times, the highest among other segments. It was followed by Employees, 7.11 times.  The company’s shares were commanding a premium of 87% in the grey market. It is an unofficial place where shares trade illegally ahead of listing. 

Read the full story: Premier Energies IPO last day: Check subscription status, GMP, and other key details

13:15 (IST) 29 Aug 2024
Share market today live updates : NBCC up 5% on selling commercial inventory

Shares of NBCC rose more than 5% to an intraday high of Rs 205.68 after it sold commercial inventory worth Rs 1,342 crore in Delhi. The company touched its 52-week high of Rs 209.75 on August 28, 2024. The upper band for the stock is placed at Rs 234.85.

12:29 (IST) 29 Aug 2024
Stock market today live updates : REC, PFC gains over 2% after UBS initiates coverage with ‘Buy’

Shares of Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) gained over 2% on Thursday following the initiation of coverage by UBS. The foreign brokerage firm has a bullish view on these dividend stocks, citing strong growth prospects driven by the shift towards renewable energy and infrastructure financing.

12:18 (IST) 29 Aug 2024
Stock market today live updates : Gold Outlook

Commenting on the gold outlook Renisha Chainani, Research Head at Augmont Gold for All said that The US Dollar Index's modest resurgence has led to a short-term fall in gold prices, despite an overall rising trend. Increased buying activity in North America and Europe would boost worldwide demand, and silver is projected to climb with gold.

Chainani also added that the current political uncertainties in the United States, geopolitical tensions in the Middle East, and global economic concerns all add to the precious metal's upward trend. Preliminary US Q2 annualized GDP and PCE figures will be released today and tomorrow, providing more insights.

11:44 (IST) 29 Aug 2024
Stock market today live updates : Jefferies on TVS Motors

Jefferies has issued a positive report on TVS Motors, maintaining a "Buy" rating with a revised target price of Rs 3,400, up from the earlier target of Rs 3,000, representing a 24% upside from the current market price of Rs 2,737.

The report highlights that TVS Motors is expected to be a major beneficiary of the revival in two-wheeler (2W) demand in both domestic and export markets. Jefferies anticipates continued margin expansion driven by an improving franchise. The company's earnings per share (EPS) have more than tripled over the past three years, and it is projected to more than double over the next three years.

Although TVS Motors' price-to-earnings (PE) ratios of 48x for FY25E and 36x for FY26E appear high compared to the CY15-23 average of 28x, Jefferies believes that these premium multiples will be sustained due to a strong growth outlook. The target price of ₹3,400 is based on a 40x PE multiple for September 2026 earnings, rolled over from March 2026 estimates.

11:17 (IST) 29 Aug 2024
Stock market today live updates : EaseMyTrip shares down over 1%

EaseMyTrip, an Indian online travel platform, has been recognized as the ‘Best Online Travel Portal of India’ at the Prestigious Brands of India 2024 awards. The award was presented during the Goal Fest Conclave 2024. Shares of Easy Trip trade 1.31% lower at Rs 40.04 on NSE.

10:58 (IST) 29 Aug 2024
Stock market today live updates : Biocon shares trade marginally higher

Biocon Biologics Ltd (BBL), a subsidiary of Biocon Ltd, has obtained market entry approval for its proposed biosimilar to Stelara across Europe, the UK, Canada, and Japan. The company announced today that it has signed a settlement and license agreement with Janssen, resolving patent disputes related to its product, Bmab 1200 (bUstekinumab). At 10:30 AM on the NSE, shares of Biocon Ltd were trading at ₹355.40, down by Rs 1.30 or 0.36%.

10:27 (IST) 29 Aug 2024
Stock market today live updates : Key Levels To Watch On Nifty

Commenting on the Technical outlook of Nifty Anand James, Chief Market Strategist, Geojit Financial Services, said that While a minor penetration of 24970 unfolded in the early hours, it did not stop Nifty from swinging higher to 25075 on expected lines. The push above the same could not sustain though, with the intraday peaks crumbling under the weight of profit booking towards close.

"This forces Nifty to ask support from 24970 again, but favoured view expects penetration of the same, aiming for 24870, which should slow down the pace of declines, but 24770/700 also stands exposed. However, a direct push above 25060 early in the day would signal regrouping of bulls, and an attempt to scale 25150," James added.

10:12 (IST) 29 Aug 2024
Stock market today live updates : JSW Energy remain focus

JSW Energy has received a Letter of Award for a 400 MW wind-solar hybrid power project from the Maharashtra government. Despite the positive development, the company's stock was trading 1.44% lower at Rs 726 on the NSE.

09:55 (IST) 29 Aug 2024
Stock market today live updates : Citi has reiterated its "buy" recommendation on Vodafone Idea

Citi has reiterated its "buy" recommendation on Vodafone Idea Ltd., setting a price target of Rs 22 per share. The brokerage firm is optimistic about the Supreme Court's decision to hear Vodafone Idea's AGR curative petition, suggesting that a favorable outcome could significantly alleviate the company's AGR debt burden. Citi estimates potential benefits of Rs 4 to Rs 5 per share, or over 25% upside from the current market price.

09:45 (IST) 29 Aug 2024
Stock market today live updates : PB Fintech gains over 2%

Shares of PB Fintech, the parent company of Policybazaar, gained 2% on Thursday following a significant trade during a pre-market block window. Approximately 97 lakh shares, representing 2.1% of the company's total equity, changed hands in the block deal, as per data available on the stock exchanges.

09:39 (IST) 29 Aug 2024
Stock market today live updates : CLSA Maintains Outperform Rating on Adani Ports

In its latest report on Adani Ports and Special Economic Zone (ADSEZ), CLSA has maintained an "Outperform" rating with a target price of Rs 1,764. The report highlights that Adani Ports' core ports have shown traffic growth at three times the national average over FY19-24, along with a year-on-year market share gain of 300 basis points.

CLSA also notes that ADSEZ has formalized its 2030 aspirations, projecting a compound annual growth rate (CAGR) of 15%. Additionally, the report forecasts five-year revenue and port EBITDA CAGRs of 16% year-on-year over FY24-29.

09:31 (IST) 29 Aug 2024
Stock market today live updates : IndiGo Shares in Focus

On Thursday, August 29, approximately 2.3 crore shares, or 6% equity, of InterGlobe Aviation, valued at $1.3 billion (₹11,000 crore), were traded at Rs 4,760 per share. The identities of the buyers and sellers involved in the transaction have not yet been disclosed. According to data from the Bombay Stock Exchange, Gangwal and his associated entities held around a 20% stake in InterGlobe Aviation as of the end of June 2024.

09:15 (IST) 29 Aug 2024
Markets at open

The NSE Nifty 50 opens down by 17.05 points or 0.07% at 25,035.30, while the BSE Sensex gains 37 points or 0.05% to 81,822.56 in the opening trade.

09:08 (IST) 29 Aug 2024
Stock market today live updates : RIL shares in Focus Today

The Competition Commission of India (CCI) has approved the merger of the media assets of Reliance Industries and Walt Disney Co, paving the way for the creation of India's largest media empire valued at over Rs 70,000 crore. However, the CCI did not disclose any voluntary modifications made to the original deal by the two companies.

08:59 (IST) 29 Aug 2024
Stock market today live updates : Vodafone Idea in Focus Today

The Supreme Court of India has scheduled a hearing for Vodafone Idea's curative petition in the Adjusted Gross Revenue (AGR) case on August 30. This comes after the Supreme Court acknowledged the telecom operator's submission on July 15, challenging the 2019 judgment requiring payments to the government.

08:47 (IST) 29 Aug 2024
Stock market today live updates : Today's Market Outlook

Commenting on today's market outlook Prashanth Tapse, Senior VP (Research), Mehta Equities said The Nifty is expected to face choppy waters ahead, with uncertainty in market direction. The downturn in US tech stocks, particularly Nvidia's recent decline despite strong earnings, has contributed to this caution. Key concerns include the potential for a Fed rate cut and its implications, while crude oil futures dipping below $75 per barrel adds to the cautious sentiment.

Tapse also added that Reliance Industries' upcoming AGM is also in focus, with investors closely watching developments. The Nifty is likely to trade between 24700-25500, with 25500 acting as a significant resistance level. Recommended trades include buying Nifty and Bank Nifty on dips, with bullish positions in Bharti Airtel, Sun Pharma, and IEX. Conversely, DLF is a recommended sell, signalling a potential breakdown.

08:43 (IST) 29 Aug 2024
Stock market today live updates : Lemon Tree Hotels in Focus

Lemon Tree Hotels announced the launch of its newest property, Lemon Tree Hotel, in Ujjain, Madhya Pradesh. The property, slated to open in FY27, will be managed by Carnation Hotels, a wholly-owned subsidiary of Lemon Tree Hotels. The upcoming hotel will feature 72 rooms, a restaurant, a bar, a swimming pool, and other public amenities.

08:38 (IST) 29 Aug 2024
Stock market today live updates : Vedanta shares in focus today

Vedanta Ltd, the Anil Agarwal-owned mining conglomerate, announced on Wednesday, August 28, that its board will consider a third interim dividend at its upcoming meeting on September 2, 2024. In a filing with the stock exchanges, the company also confirmed that the record date for the proposed dividend has been set for September 10, 2024.

08:35 (IST) 29 Aug 2024
Stock market today live updates : Key Levels To Watch On Bank Nifty

Commenting on the Bank Nifty today Kunal Kamble Sr. Technical Research Analyst, at Bonanza Portfolio said that Yesterday, the banking index showed a short rollover after a week of higher highs and higher lows, closing within the previous candle to form an inside candle. The index is facing strong resistance at 51,350, a level where it previously encountered sharp selling. On the options front, the highest open interest is seen at 51,500 CE and 51,200 CE, indicating resistance levels, while fresh long build-up is noted at the 51,000 PE strike. We expect the index to see profit booking towards the 50,800 level today unless it can close above the critical 51,350 resistance level.