Indices flat; Eicher Motors up 4% as Jeffries keeps ‘buy’, raises target
Sensex Today | Stock Market LIVE Updates: Jefferies has kept Buy rating on Eicher Motors and raised the target price to Rs 4,150 per share.
Jefferies expects company’s EBITDA & EPS to rise 62 percent & 81 percent over FY23-26. Except Bank and Information Technology, all other sectoral indices were trading in the green with metal, capital goods and PSU Banks up 0.5-1 percent. Eicher Motors, Tata Steel, Dr Reddy’s Laboratories, L&T, UltraTech Cement were among major gainers on the Nifty, while losers were Apollo Hospitals, Tech Mahindra, Asian Paints, Kotak Mahindra Bank and Bajaj Finserv.
The Sensex was down 11.75 points or 0.02 percent at 66,011.94, and the Nifty was up 10.20 points or 0.05 percent at 19,684.70. About 1825 shares advanced, 977 shares declined, and 112 shares unchanged.
SMC Global Securities announced a strategic partnership with Ujjivan Small Finance Bank to offer online trading services to the bank’s customers. This association will offer services comprising savings, demat and trading accounts, to bank’s customers.
The collaboration will enable SMC Global to expand its client base by tapping into Ujjivan SFB’s extensive pan-India presence, serving over 76 lakh customers.
Wipro announced sale of land admeasuring 14 acres and 02 cents, in Chennai, together with a 20-year-old building for Rs 266.38 crore. The company executed sale deed on September 25 and Casagrand Bizpark was the buyer.
Crude oil futures settled lower due to concerns over energy demand and the prevailing higher interest rate scenario. A stronger dollar, driven by hawkish comments from central banks, weighed on oil prices. Russia modified its export ban, lifting restrictions on some fuel types but kept gasoline and high-quality diesel bans in place. Global bond market selloff and global growth prospects amid slackening demand impacted oil prices.
We expect crude oil prices to remain volatile in today’s session. Crude oil has support at USD 88.50–87.80 and resistance is at USD 90.10–91.00 in today’s session. In INR Crude oil has support at Rs 7,390-7,320, while resistance is at Rs 7,540–7,610.
