Share Market Today Live Updates May 24, 2024: GSM Foils IPO fully booked within hours of opening, retail investors steal the show; know GMP, subscription status, more

• GSM Foils IPO subscriptions began on May 24 and will end on May 28 at a price band of ₹32 per share. The company produces Blister Foils and Aluminium Pharma Foils for pharmaceutical packaging. Promoters are Mohansingh L. Parmar and Sagar Girish Bhanushali.

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• ITC reported a 1.3 percent YoY decline in its standalone net profit to ₹5,020.20 crore for the quarter ending March 2024, slightly below the ₹5,150 crore estimated by analysts in a Bloomberg poll.

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• Gold price today: Gold prices experience profit-taking as US Federal Reserve’s hawkish tone diminishes rate cut prospects. MCX Gold trades lacklustre on weak global cues.

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• How bonds can fit into your portfolio.

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• Max Healthcare share price that has risen by around 44% in last one year, is down more than 10% since highs in February and around 5% since Q4 results on 22 May. The Q4 results as per analysts were in line post completion of acquisitions. Buy or Sell?

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• Brent and WTI prices declined due to demand concerns and US interest rates. Fed’s cautious stance on rate cuts affected prices. US stockpiles increased, while Russia exceeded production quota. OPEC+ meeting in June likely to extend output cuts to balance global supply.

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• New funds will allow mainstream investors to buy and sell the cryptocurrency as easily as stocks or mutual funds

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• Shares of Adani Enterprises Ltd., the flagship of Indian billionaire Gautam Adani’s group, have erased all the losses inflicted by a scathing short-seller report in early 2023, after the conglomerate cut debt and landed major projects.

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• Following shares hit their 52 week low today – Varanium Cloud, Semac Consultants, GSS Infotech, MEGASTAR FOOD, Brightcom Group

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• Following shares hit their 52 week high today – Havells India, Samvardhana Motherson International, Ambuja Cements, State Bank Of India, Divis Laboratories

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• Finolex Cables stock surges over 14% to record high of ₹1,308.25 after posting better-than-expected Q4FY24 results. Revenue up 18.3% to ₹1,450.69 crore. Net profit rises 6.3% YoY to ₹186.1 crore. EBITDA increases 11.2% to ₹162 crore.

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• Hariom Atta & Spices (HOAC Foods India) had a strong market debut with shares opening at ₹147 on NSE SME, a premium of 206% over the issue price. The IPO received exceptional subscription of 2,013.64 times, aiming to use proceeds for working capital and general purposes.

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• Gold And Silver Prices Today:Gold And Silver Prices Today : 10 gm of 24 carat gold was at Rs.74574.0 in Delhi whereas 1 kg of silver was Rs.90240.0 in Delhi.

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• Rulka Electricals share price had a strong debut on NSE SME, with shares opening at ₹525, a 123.40% increase from the issue price.

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• Stock in focus: Rajesh Palviya has recommended to buy, hold, and accumulate Infosys Ltd, Bajaj Finance Ltd, and ACC Ltd.

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• NSE-listed companies reached $5 trillion market cap in just 6 months, with Nifty hitting new highs. Nifty 500 index also reached an all-time high, indicating broad-based growth. Market participation has expanded, with corporate resource mobilization and improved liquidity in the secondary market.

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• Stock Market Today: JK Lakshmi Cement share price gained more than 7% post Q4 Results that were declared after the market hours on Thursday.

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• Nifty hits 23,000 for the first time

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• Vodafone Idea share price rose 4% as UBS upgraded rating to ‘buy’ with target price at ₹18. Analyst predicts 70-80% rally due to potential AGR decrease or equity conversion. Technical Analyst expects further upmoves towards 15.8 with support at 14.10.

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• Awfis Space Solutions IPO price band is fixed at ₹364 to ₹383 per share. The IPO lot size is 39 shares. The issue includes a reservation of up to 57,636 shares for employees and the company has offered at a discount of ₹36.

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• Stocks to buy or sell: Sumeet Bagadia has recommended buying these five breakout stocks today — Cochin Shipyard Ltd, Saregama India Ltd, Rail Vikas Nigam Ltd (RVNL), Olectra Greentech Ltd, and Mazagon Dock Shipbuilders Ltd.

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• Here are a few stocks likely to be in focus on Friday, May 24:

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• Stocks to buy: Chandan Taparia recommends three stocks to buy today. These three stocks to buy today include, Cochin Shipyard, Bharti Airtel and Bharat Electronics (BEL).

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• Stocks to buy today: Experts have recommended buying these five shares — Shriram Finance Ltd, Tata Motors Ltd, Chennai Petroleum Corporation Ltd, Bajaj Auto Ltd, and State Bank of India (SBI).

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• The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 22,950 level, a discount of nearly 50 points from the Nifty futures’ previous close.

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• Indian stock market: Gift Nifty was trading around the 22,950 level, a discount of nearly 50 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.

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• Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — Axis Bank Ltd, Birlasoft Ltd, and IndusInd Bank Ltd.

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• Vedanta has declared an interim dividend of ₹11.00 per equity share; Tata Consumer Products has declared a final dividend of ₹7.75 per equity share

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• Aditya Birla Capital, Balrampur Chini Mills, Bandhan Bank, Hindustan Copper, IEX, India Cements, Metropolis Healthcare, National Aluminium, Piramal Enterprises, PNB, and ZEEL are the 11 stocks in the F&O ban list of the NSE for May 24

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