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Stock Market Today: Trade Setup, Buzzing Stocks: Key Earnings and Market Moves

Stock Market Today: Record Highs and Market Outlook

The marĀ­ketā€™s record-breakĀ­ing spree conĀ­tinĀ­ues, fueled by a deciĀ­sive breakĀ­out, promisĀ­ing a susĀ­tained upward traĀ­jecĀ­toĀ­ry. Experts foreĀ­see ongoĀ­ing momenĀ­tum, temĀ­pered by conĀ­solĀ­iĀ­daĀ­tion and volatilĀ­iĀ­ty. Key levĀ­els to monĀ­iĀ­tor include 22,200ā€“22,400 as resisĀ­tance and 21,900ā€“21,800 as supĀ­port.

January 15 Surge: BSE Sensex and Nifty 50

On JanĀ­uĀ­ary 15, the BSE SenĀ­sex surged 759 points to 73,328, driĀ­ven by techĀ­nolĀ­oĀ­gy, banks, and Reliance IndusĀ­tries. SimulĀ­taĀ­neĀ­ousĀ­ly, the Nifty 50 soared 203 points to 22,098, formĀ­ing a bullĀ­ish canĀ­dleĀ­stick patĀ­tern, indiĀ­catĀ­ing robust buyĀ­ing interĀ­est at lowĀ­er levĀ­els.

January 16: Earnings Focus

MulĀ­tiĀ­ple comĀ­paĀ­nies, includĀ­ing HDFC Bank, ICICI LomĀ­bard, L&T TechĀ­nolĀ­oĀ­gy SerĀ­vices, and othĀ­ers, are set to declare their DecemĀ­ber FY24 quarĀ­ter earnĀ­ings on JanĀ­uĀ­ary 16.

Angel Oneā€™s Robust Performance

Retail stock broking firm Angel One reportĀ­ed a net profĀ­it of Rs 260.3 crore, markĀ­ing a 14.2% YoY growth. Despite a sigĀ­nifĀ­iĀ­cant revĀ­enue surge of 41.5% YoY to Rs 1,059 crore, marĀ­gins dipped to 37.6%. The comĀ­paĀ­ny declared an interĀ­im divĀ­iĀ­dend of Rs 12.7 per share for FY24.

Jio Financial Services Update

Jio FinanĀ­cial recordĀ­ed a conĀ­solĀ­iĀ­datĀ­ed profĀ­it of Rs 293.82 crore in Q3 FY24, with a notable decline from the preĀ­viĀ­ous quarĀ­ter. The board appointĀ­ed Rupali Adhikari Sawant as Group Head of InterĀ­nal Audit and SudĀ­heer RedĀ­dy GovĀ­uĀ­la as Group Chief ComĀ­pliĀ­ance OffiĀ­cer.

Rail Vikas Nigamā€™s Contract Win

Rail Vikas Nigam secured a conĀ­tract as the lowĀ­est bidĀ­der for 11 KV line-assoĀ­ciĀ­atĀ­ed works in varĀ­iĀ­ous cirĀ­cles of MPPKVVCL, Jabalpur. The conĀ­tract spans 24 months.

Zomato Share Sale

MotiĀ­lal OswĀ­al MutuĀ­al Fund sold 4.5 crore equiĀ­ty shares (0.51% stake) in ZomaĀ­to via open marĀ­ket transĀ­acĀ­tions at an averĀ­age price of Rs 138.15 per share.

Patanjali Foodsā€™ Q3 Performance

PatanĀ­jali Foods reportĀ­ed staĀ­ble ediĀ­ble oil prices in Q3 FY24, with sinĀ­gle-digĀ­it sequenĀ­tial and YoY volĀ­ume growth. BrandĀ­ed sales conĀ­tributed 75% to total ediĀ­ble oil sales volĀ­ume.

Corporate Developments: Shakti Pumps and Aster DM Healthcare

ShakĀ­ti Pumps will conĀ­sidĀ­er raisĀ­ing funds through a prefĀ­erĀ­enĀ­tial allotĀ­ment or priĀ­vate placeĀ­ment. Aster DM HealthĀ­careā€™s stake sale in GCC busiĀ­ness is proĀ­gressĀ­ing, with the board conĀ­temĀ­platĀ­ing a divĀ­iĀ­dend disĀ­triĀ­bĀ­uĀ­tion based on the deal.

Infrastructure Deals: PNC Infratech

PNC InfratĀ­eĀ­ch and its subĀ­sidiary will divest 12 road assets to HighĀ­ways InfraĀ­strucĀ­ture Trust for an enterĀ­prise valĀ­ue of Rs 9,005.7 crore.

Usha Martinā€™s Acquisition Move

Usha Siam Steel IndusĀ­tries in ThaiĀ­land, a subĀ­sidiary of Usha MarĀ­tin, is set to acquire a 50% stake in Tesac Usha Wirerope ComĀ­paĀ­ny, a joint venĀ­ture, from KobelĀ­co Wire ComĀ­paĀ­ny.

In conĀ­cluĀ­sion, the marĀ­ketā€™s upward trend, earnĀ­ings announceĀ­ments, and strateĀ­gic moves by key playĀ­ers indiĀ­cate a dynamĀ­ic and evolvĀ­ing landĀ­scape. Investors should stay tuned for furĀ­ther develĀ­opĀ­ments in this dynamĀ­ic stock marĀ­ket enviĀ­ronĀ­ment.

MediAssist IPO

The Medi Assist HealthĀ­care SerĀ­vices IPO begins with a modĀ­est start, recordĀ­ing a subĀ­scripĀ­tion of 54% on the first day. Despite the slow iniĀ­tial response, optiĀ­mism preĀ­vails for a sucĀ­cessĀ­ful outĀ­come, with two more days remainĀ­ing for investors to parĀ­ticĀ­iĀ­pate in the subĀ­scripĀ­tion of the Medi Assist IPO.

Ahead of the IPO, Medi Assist secured Rs 351.5 crore through its anchor book issue. Notable names among anchor investors include NomuĀ­ra Trust, GoldĀ­man Sachs, Ashoka Whiteoak, PineĀ­bridge GlobĀ­al Funds, Troo CapĀ­iĀ­tal, HSBC, and varĀ­iĀ­ous domesĀ­tic investors.

The IPO presents a unique opporĀ­tuĀ­niĀ­ty in the healthĀ­care adminĀ­isĀ­traĀ­tion secĀ­tor, backed by a wideĀ­spread netĀ­work and strateĀ­gic posiĀ­tionĀ­ing. Investors are closeĀ­ly watchĀ­ing the develĀ­opĀ­ments as the subĀ­scripĀ­tion periĀ­od proĀ­gressĀ­es. šŸ“ˆ #MediĀ­AsĀ­sisĀ­tIPO #StockĀ­MarĀ­ket #HealthĀ­careAdĀ­minĀ­isĀ­traĀ­tion

Epack Durable IPO Details

Epack Durable, the secĀ­ond-largest origĀ­iĀ­nal design manĀ­uĀ­facĀ­turĀ­er of room air conĀ­diĀ­tionĀ­ers in India, announces its maidĀ­en pubĀ­lic issue. The IPO is set to open on JanĀ­uĀ­ary 19 and close on JanĀ­uĀ­ary 23, with a price band of Rs 218ā€“230 per share. The comĀ­paĀ­ny aims to raise Rs 640 crore at the upper price band, comĀ­prisĀ­ing a fresh issue of Rs 400 crore and an offer-for-sale (OFS) of 1.04 crore equiĀ­ty shares by existĀ­ing shareĀ­holdĀ­ers. The anchor book opens on JanĀ­uĀ­ary 18. This marks the third pubĀ­lic issue of the year, folĀ­lowĀ­ing Jyoti CNC AutomaĀ­tion and Medi Assist HealthĀ­care SerĀ­vices IPOs and preĀ­cedes the Nova Agritech IPO.

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