The headline equity benchmarks traded in a narrow range with minor cuts in mid-morning trade. The Nifty hovered below the 25,400 level. Realty shares extended gains for the second consecutive trading session. At 11:30 IST, the barometer index, the S&P BSE Sensex was down 61.93 points or 0.07% to 82,900.78. The Nifty 50 index shed 21.80 points or 0.09% to 25,367.10. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.56% and the S&P BSE Small-Cap index gained 1.04%. The market breadth was strong. On the BSE, 2,557 shares rose and 1,195 shares fell. A total of 152 shares were unchanged. Economy: India's retail inflation rose to 3.65% in August, slightly higher than 3.6% reported in July. The inflation was within the Reserve Bank of India's (RBI) medium-term target of 2-6%. Separately, the Index of Industrial Production (IIP) rose slightly to 4.83% in July from 4.72% in June. IPO Update : The initial public offer (IPO) of Western Carriers (India) received 48,62,343 bids for shares as against 2,08,68,467 shares on offer, according to stock exchange data at 11:15 IST on Friday (13 September 2024). The issue was subscribed 0.23 times. The issue opened for bidding on Friday (13 September 2024) and it will close on Wednesday (18 September 2024). The price band of the IPO is fixed between Rs 163 to Rs 172 per share. An investor can bid for a minimum of 87 equity shares and in multiples thereof. Buzzing Index : The Nifty Realty index gained 1.73% to 1,053.60. The index rallied 2.62% in two consecutive trading sessions. Sobha (up 3.88%), Godrej Properties (up 3.17%), DLF (up 2.97%), Macrotech Developers (up 1.92%), Sunteck Realty (up 1.62%), Mahindra Lifespace Developers (up 1.21%), Brigade Enterprises (up 1.20%), Oberoi Realty (up 1.11%) and Prestige Estates Projects (up 0.85%) advanced. Stocks in Spotlight : Hazoor Multi Projects rallied 3.27% after the company announced that it has received letter of acceptance (LOA) from National Highways Authority of India for projects worth Rs 17.94 crore. Life Insurance Corporation of India (LIC) added 0.97%. The company has disclosed that the insurance major has increased its stake in Indian Railway Catering and Tourism Corporation (IRCTC) to 9.298% from 7.278%. The life insurer purchased 1,61,56,976 shares, or 2.020% equity, at an average cost of Rs 657.614 via open market purchase during the period from 16 December 2022 to 11 September 2024. Puravankara jumped 4.96% after the company has acquired the redevelopment rights of Miami Apartments spread over 2,000 sq meter of land at Breach Candy, Mumbai. Global Markets : Asian stocks traded mixed on Friday as investors took profits following the previous session's rally. The market remains optimistic about the possibility of a US Federal Reserve interest rate cut. US stock markets closed higher on Thursday after the latest inflation data solidified expectations for a 25-basis point rate decrease by the Federal Reserve. The Dow Jones Industrial Average gained 0.58%, the S&P 500 rose 0.75%, and the Nasdaq Composite ended 1.00% higher. Warner Bros Discovery shares surged 10.4%, while Charter's stock price increased by 3.6%. Moderna experienced a decline of 12.4%, and Kroger shares rallied 7.2%. The producer price index (PPI) for final demand rose 0.2% in August, slightly exceeding estimates of 0.1% growth. The core PPI, excluding volatile food and energy prices, increased by 0.3%, surpassing the forecasted 0.2%. The number of Americans filing initial claims for unemployment benefits rose marginally last week. Initial claims increased by 2,000 to a seasonally adjusted 230,000 for the week ending September 7. The European Central Bank (ECB) implemented a second interest rate cut this year. The key deposit rate was lowered by 25 basis points to 3.5%, aligning with expectations. While the ECB reduced its 2024 economic growth projection, it remains confident that inflation will broadly align with its 2% target by the end of 2025. Powered by Capital Market - Live

As per the terms of the contract, the company would act as the user fee collection agency for Bogalur fee plaza at the Madurai- Paramakudi ' Ramanathapuram section of NH-9 in the state of Tamil Nadu. It would also undertake the upkeep/ maintenance of adjacent toilet blocks including recouping the consumable items. The tenure of the said project is 1 year from date of appointment. Hazoor Multi Projects is engaged in the business of real estate and road construction. The company's net profit declined 99.6% to Rs 0.08 crore while net sales fell by 79% to Rs 34.16 crore in Q1 FY25 over Q1 FY24. Powered by Capital Market - Live

Hazoor Multi Projects has received a letter of acceptance from National Highways Authority of India for acting as user fee collection agency for Bogalur fee plaza at Km. 98.129 for the section Madurai- Paramakudi ' Ramanathapuram from km.55.000 to km.120.484 (2 lane/ 4 lane) of NH-9 in the state of Tamil Nadu & and upkeep/ maintenance of adjacent Toilet blocks including recouping the consumable items. The value of awarded project is Rs.17.94 crore. Powered by Capital Market - Live

Hazoor Multi Projects will hold a meeting of the Board of Directors of the Company on 16 September 2024.Powered by Capital Market - Live

The first order has been received from Welspun Enterprises for stacking and dewatering works. The value of the project is Rs 40 crore. Further, the firm received another order from B.G. Shirke Const. Tech. Pvt. Ltd. for excavation of various site located at Pahadi Goregaon, Thane and Kanamwarnagar. The value of this project is Rs 30 crore. Hazoor Multi Projects' current market capitalisation is Rs 871.41 crore on the BSE. Hazoor Multi Projects is engaged in the business of real estate and road construction. The company's net profit slipped 99.6% to Rs 0.08 crore while net sales tumbled 79% to Rs 34.16 crore in Q1 FY25 over Q1 FY24. The counter was freezed at its record high of Rs 490.35 in intraday today.Powered by Capital Market - Live

Hazoor Multi Projects has received a work order from Welspun Enterprises for stacking and dewatering works. The value of awarded project is Rs.40 crore. Powered by Capital Market - Live

Hazoor Multi Projects has received a work order from B.G. Shirke Const. Tech. for Excavation of various site located at Pahadi Goregaon-1473, Shirdhon- III, Khoni- 1374, Nawde-1449, CPWD- 1447, Taloja-1415/16, Thane- 1453 and Kanamwarnagar-1180. The value of awarded project is Rs. 30 crore. Powered by Capital Market - Live

The first order has been received from Welspun Enterprises for stacking and dewatering works. The value of the project is Rs 40 crore. Further, the firm received another order from B.G. Shirke Const. Tech. Pvt. Ltd. for excavation of various site located at Pahadi Goregaon, Thane and Kanamwarnagar. The value of this project is Rs 30 crore. Hazoor Multi Projects' current market capitalisation is Rs 871.41 crore on the BSE. Hazoor Multi Projects is engaged in the business of real estate and road construction. The company's net profit slipped 99.6% to Rs 0.08 crore while net sales tumbled 79% to Rs 34.16 crore in Q1 FY25 over Q1 FY24. The scrip closed 5% higher at Rs 467 on Friday, 30 August 2024. Powered by Capital Market - Live

Hazoor Multi Projects announced that the Board of Directors of the Company at its meeting held on 12 August 2024, inter alia, have recommended the first interim dividend of Rs 2 per equity Share (i.e. 20%) , subject to the approval of the shareholders.Powered by Capital Market - Live

Hazoor Multi Projects has fixed 23 August 2024 as record date for first interim dividend for FY 2024-25. Powered by Capital Market - Live