Suprajit Engineering has signed a memorandum of understanding with Chuo Spring Company, Japan for incorporation of a 50:50 joint venture (JV) in India to design, manufacture and supply transmission cables and a technical assistance (TA) agreement, which grants JV access to Chuo's unique Japanese cable technology. The JV and TA will first focus on delivering projects for India's two leading Japanese PV OEMs. The collaboration further expands SEL's product range to key Japanese customers, and the transmission cable market, going forward. Powered by Capital Market - Live

The frontline indices traded with limited gains in early afternoon trade. The Nifty traded around the 24,250 mark. Financial services shares advanced after declining in the past trading session. At 12:30 IST, the barometer index, the S&P BSE Sensex, was up 193.82 points or 0.25% to 80,206.25. The Nifty 50 index rose 54.55 points or 0.23% to 24,249.05. In the broader market, the S&P BSE Mid-Cap index rose 0.17% and the S&P BSE Small-Cap index added 0.80%. The market breadth was strong. On the BSE, 2,447 shares rose and 1,326 shares fell. A total of 161 shares were unchanged. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 2.74% to 14.89. The Nifty 28 November 2024 futures were trading at 24,285, at a premium of 35.95 points as compared with the spot at 24,249.05. The Nifty option chain for the 28 November 2024 expiry showed maximum Call OI of 123.2 lakh contracts at the 25,000 strike price. Maximum Put OI of 94.3 lakh contracts were seen at 23,000 strike price. Buzzing Index: The Nifty Financial Services index rose 0.32% to 24,123.80. The index shed 0.06% in the past trading session. Power Finance Corporation (up 1.33%), REC (up 1.12%), Bajaj Finance (up 1.11%), Cholamandalam Investment & Finance Company (up 0.94%), SBI Cards & Payment Services (up 0.77%), Kotak Mahindra Bank (up 0.76%), LIC Housing Finance (up 0.54%), Bajaj Finserv (up 0.25%), HDFC Bank (up 0.20%) and HDFC Life Insurance Company (up 0.20%) advanced. On the other hand, ICICI Prudential Life Insurance Company (down 1.61%), Muthoot Finance (down 1.15%) and Shriram Finance (down 1.06%) edged lower. Stocks in Spotlight: Suprajit Engineering (SEL) advanced 2.45% after the company signed memorandum of understanding (MoU) with Chuo Spring Company, Japan (Chou) to extend the reach of Chuo's special transmission cable technology to India. Siemens gained 2.45% after the heavy electrical equipment maker's consolidated net profit jumped 45.40% to Rs 830.70 crore in September 2024 quarter as against Rs 571.30 crore reported in the same period last year. Total revenue from operations increased 11.40% year on year (YoY) to Rs 6,373.60 crore during the quarter ended 30 September 2024. Powered by Capital Market - Live

Chuo is a leading Japanese transmission cable maker and supplies to the world's leading Japanese OEMs. Chuo has a global footprint with plants in US, China, Indonesia, and Thailand and consolidated revenue $675 million. This collaboration includes a 50:50 joint venture (JV) in India to design, manufacture, and supply transmission cables, and a technical assistance (TA) agreement, which grants JV access to Chuo's unique Japanese Transmission cable technology. The collaboration brings together two globally recognised cable suppliers. It extends the reach of Chuo's special Transmission cable technology to India and may further support Suprajit's global OEM customers. The collaboration further expands SEL's product range to key Japanese customers, and the transmission cable market, going forward. Suprajit Engineering is engaged in the business of manufacturing of auto components consisting mainly of control cables, speedo cables, auto lamps and other components for automobiles and caters to both domestic and international markets. The company reported 98.65% decline in consolidated net profit to Rs 0.48 crore in Q2 FY25 as compared with Rs 34.76 crore in Q2 FY24. Revenue from operations jumped 17.6% YoY to Rs 833.60 crore during the quarter.Powered by Capital Market - Live

Net profit of Suprajit Engineering declined 98.62% to Rs 0.48 crore in the quarter ended September 2024 as against Rs 34.76 crore during the previous quarter ended September 2023. Sales rose 17.60% to Rs 833.60 crore in the quarter ended September 2024 as against Rs 708.87 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales833.60708.87 18 OPM %7.569.85 - PBDT60.8774.91 -19 PBT28.4649.21 -42 NP0.4834.76 -99 Powered by Capital Market - Live

Suprajit Engineering will hold a meeting of the Board of Directors of the Company on 11 November 2024.Powered by Capital Market - Live

Suprajit Engineering announced that the Annual General Meeting (AGM) of the company will be held on 26 September 2024.Powered by Capital Market - Live

The frontline indices traded with robust gains in mid-afternoon trade. The Nifty scaled above the 24,500 level. Sensex crossed 80,300 level. Private bank shares advanced after declining in past two consecutive trading sessions. At 13:30 IST, the barometer index, the S&P BSE Sensex surged 1,193.43 points or 1.51% to 80,305.07. The Nifty 50 index soared 362.70 points or 1.50% to 24,506.45. In the broader market, the S&P BSE Mid-Cap index gained 1.58% and the S&P BSE Small-Cap index rallied 1.66%. The market breadth was strong. On the BSE, 2,455 shares rose and 1,427 shares fell. A total of 114 shares were unchanged. Economy: India's total exports (Merchandise and Services combined) for July 2024 is estimated at $62.42 billion, registering a positive growth of 2.81% vis-'-vis July 2023.Total imports (Merchandise and Services combined) for July 2024 is estimated at $72.03 billion, registering a positive growth of 7.14% vis-'-vis July 2023. Merchandise exports during July 2024 were $33.98 billion as compared to $34.49 billion in July 2023. Merchandise imports during July 2024 were $57.48 billion as compared to $53.49 billion in July 2023. Merchandise exports during April-July 2024 were $144.12 billion as compared to $138.39 billion during April-July 2023. Merchandise imports during April-July 2024 were $229.70 billion compared to $213.53 billion during April-July 2023. Merchandise trade deficit during April-July 2024 was $85.58 billion compared to $75.15 billion during April-July 2023. Buzzing Index: The Nifty Private Bank index gained 1.73% to 25,274.05. The index fell 1.63% in past two consecutive trading sessions. ICICI Bank (up 2.62%), City Union Bank (up 2.22%), Kotak Mahindra Bank (up 1.85%), IndusInd Bank (up 1.85%), IDFC First Bank (up 1.57%), HDFC Bank (up 1.52%), Axis Bank (up 1.33%), Bandhan Bank (up 1.32%), RBL Bank (up 0.67%) and Federal Bank (up 0.4%) advanced. Numbers to track: The yield on India's 10-year benchmark federal paper jumped 1.98% to 6.994 as compared with previous close 6.858. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.9650, compared with its close of 83.9400 during the previous trading session. MCX Gold futures for 5 September 2024 settlement rose 0.62% to Rs 70,571. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.13% to 102.34. The United States 10-year bond yield fell 0.54% to 3.913. In the commodities market, Brent crude for October 2024 settlement lost 49 cents or 0.60% to $80.55 a barrel. Stocks In Spotlight: Suprajit Engineering zoomed 16.50% after the company's consolidated net profit jumped 15.16% to Rs 38.14 crore in Q1 FY25 as compared with Rs 33.12 crore in Q1 FY24. Revenue from operations grew by 8.12% to Rs 734.86 crore in Q1 FY25 as against Rs 679.68 crore posted in the corresponding quarter last year. Sunteck Realty advanced 2% after the company reported a net profit of Rs 22.78 crore in Q1 FY25 as against a net loss of Rs 6.74 crore posted in Q1 FY24. Revenue from operations surged to Rs 316.28 crore in Q1 FY25 as compared to Rs 70.57 crore recorded in the corresponding quarter previous year. Ola Electric Mobility hit an upper circuit of 20%. The company reported net loss of Rs 347 crore in Q1 FY25 as compared with Rs 267 crore in Q1 FY24. Revenue from operations jumped 32.26% to Rs 1,644 crore in Q1 FY25 as compared with Rs 1,243 crore in Q1 FY24. Meanwhile, the company entered into electric motorcycle segment by launching Roadster, Roadster X and Roadster Pro. Powered by Capital Market - Live

Net profit of Suprajit Engineering rose 15.16% to Rs 38.14 crore in the quarter ended June 2024 as against Rs 33.12 crore during the previous quarter ended June 2023. Sales rose 8.12% to Rs 734.86 crore in the quarter ended June 2024 as against Rs 679.68 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales734.86679.68 8 OPM %11.7510.52 - PBDT84.5972.61 16 PBT58.4247.94 22 NP38.1433.12 15 Powered by Capital Market - Live

Suprajit Engineering has allotted 1,08,412 equity shares of Re. 1/- each to 32 employees, who have exercised their option under the SEL ESAR Plan -2017 Plan of the Company. Powered by Capital Market - Live

Suprajit Engineering will hold a meeting of the Board of Directors of the Company on 14 August 2024.Powered by Capital Market - Live