Share Market Live Updates 03 September 2024: Stock to buy today: Aditya Birla Capital (₹226.80): BUY

Commodities market updates: Gold eases with spotlight on US economic data

Gold prices slipped in early Asian hours on Tuesday, as investors awaited a slew of U.S. economic data to gauge the size of the Federal Reserve’s expected interest rate cut this month.

FUNDAMENTALS

* Spot gold was down 0.1% at $2,495.79 per ounce, as of 0031 GMT, after hitting a more than one-week low in the previous session.

* U.S. gold futures was little changed at $2,527.70. – Reuters

Stock market live today: SEBI to implement single corporate filing system across exchanges

SEBI Chief Madhabi Puri Buch said on Monday that there would soon be a mechanism to automatically populate a single filing made by companies onto other exchanges. “If you file disclosure with one exchange, it will automatically go on all exchanges. It is a work in progress,” Buch said at an event organised by the Confederation of Indian Industry.

Stock recommendations: Broker’s call: Go Digit (Sell)

We recently met Kamesh Goyal (Founder and Chairman), Jasleen Kohli (CEO), and Ravi Khetan (CFO) of Go Digit for an update on the company’s strategy and recent developments in the general insurance sector.

KTAs: Profitable growth remains central to the company’s strategy; the company has adopted an agile and opportunity-based approach to growth, focusing on the not-so-overly competitive segments; it maintains a channel-agnostic stance, with clear aim of not becoming too contingent on, or to have excessive concentration in, any single distributor; and technology and Data Analytics continue to be the key differentiators and enablers of the execution of its agile and opportunity-based strategy, which includes acceleration or deceleration in any product or channel.

Stock recommendations: Broker’s call: TCS (Buy)

Tata Consultancy Services (TCS) has been consistently delivering resilient performance for past several quarters despite the challenging environment.

TCS has reported a solid performance in Q1, with sequential growth returning in some of the lagging verticals, especially BFSI. Further spends in BFSI towards mitigating the risk associated with legacy systems, strengthening security practices, addressing data governance, and potential rate cut tailwinds augur well for the company. EBIT margin has also seen a steady uptick on a y-o-y basis since the last few quarters.

Stock market updates: SEBI’s Ashwani Bhatia urges bankers, CAs, and exchanges to exercise caution amid SME IPO boom

SEBI’s whole-time member Ashwani Bhatia, on Monday, urged investment bankers and chartered accountants to give the right advice to small and medium enterprises (SME), that are looking to raise money through initial public offers (IPOs).

“Instead of going straight to an IPO, a better route might be to approach an angel fund or a venture fund first,” said Bhatia, speaking at the CII’s Financing 3.0 Summit.

“Nobody is actually saying no. I am a banker, and we were taught to say no when necessary,” Bhatia added.

Stock market live today: One in two IPO investors exits within a week of listing: SEBI

Individual investors sold over 50 per cent of shares allotted to them by value within a week of listing, and 70 per cent of shares by value within a year, a regulatory study has found. This has buttressed the fact that investors in initial public offerings (IPOs) are a fickle lot who come in mostly to make quick gains.

Stock market live updates: Trading guide for September 3, 2024: Intraday supports, resistances for Nifty50 stocks

Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS, and SBI

Stock market live today: Watch: Today’s stock recommendations: 3 September 2024

The stock idea that we have for you today is Aditya Birla Capital .The stock showing signs of a trend reversal. The price action over the last few weeks indicates that the downtrend that was in place since June has ended. The outlook is now bullish, and the stock has potential to rise more from here.

Stock market live updates: Stock to buy today: Aditya Birla Capital (₹226.80): BUY

The outlook for Aditya Birla Capital is bullish. The downtrend that was in place since mid-June this year seems to have ended. The price action over the last few weeks signals a trend reversal. Immediate support is around ₹224.