Indian stock market traded in red on Wednesday, December 12, with Sensex hitting an intraday low of 80,496.57, and Nifty 50 falling below 24,300 levels to hit the day's low of 24,273.10. Bank Nifty dopped by 134 points. Stocks like Dr Reddy, Shriram Finance, Sun Pharma, Cipla and Wipro were top gainers, while Tata Motors, L&T, Power Grid, BEL, and Maruti Suzuki emerged as top losers. Market witnessed selling pressure amidst weak global cues, while investors turned cautious ahead of Fed policy meeting outcomes. in the early trade, Gift Nifty dipped by 66.5 points or 0.3% to trade at 24,364, hinting at a bearish start as well.
Stocks to be in focus on December 18 are Ambuja Cement, Alivus Life, Route Mobile, Aurobindo Pharma, and LTIMindtree.
Asian market fluctuated with Japanese shares losing steam, and slight upside in South Korean and Australian shares. Overnight, Wall Street ended in deep red with Dow Jones recording nine-consecutive losing streak, making it the longest losing streak since 1978.
The market will be keenly awaiting for US Federal Reserve's rates decision later on Wednesday. FOMC chaired by Jerome Powell is expected to announce another 25 bps rate cut. However, investors are concerned about the possibility of fewer rate cuts by Fed in 2025 due to inflationary pressure.
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Dec 18, 2024, 1:46 pm IST
Vishal Mega Mart Share Price: DMart's Rival Lists At 41% Premium On BSE
The rival of DMart, has debuted on stock exchanges. On BSE, Vishal Mega Mart was listed at a 41% premium from its IPO price on December 18, while it was listed at a premium of over 33% on NSE. Experts have advised investors who booked the IPO to hold for the long term while suggesting non-allotted investors ACCUMULATE the stock. Currently, the stock price has been corrected.
KPIL Successfully Raises Rs. 1,000 Crores Equity via QIP
Kalpataru Projects International Limited (KPIL), a diversified engineering, procurement and construction (“EPC”) company with over four decades of experience, has successfully completed its Rs. 1,000 Crores Qualified Institutions Placement (“QIP”). This marks the first equity raise by KPIL in over a decade. The QIP witnessed an overwhelming response from a diverse group of investors including domestic mutual funds, foreign investment funds and insurance companies. This significant milestone underlines KPIL’s strong credentials in the global EPC space and highlights investors’ confidence in the robust outlook for the power transmission and civil infrastructure sector.
Dec 18, 2024, 1:02 pm IST
Gensol Engineering Ltd. Secures 22 MW Ground Mount Solar PV Project with order value of INR 88 Crore
Gensol Engineering Limited, a leading player in the renewable energy sector specializing in solar power engineering, procurement, and construction (EPC) services, has secured a first large turnkey Solar project from a leading steel product company in Punjab. The project involves the development of a 22 MW ground-mounted solar PV power plant, with a total contract value of INR 88 Crore is set to be executed over a 6-month period. The project will utilize high-efficiency Bi-facial solar modules, strategically chosen to maximize energy output and ensure long-term durability. This innovative approach aligns perfectly with India’s ambitious renewable energy targets and contributes significantly to the development of a robust green energy infrastructure. Led by solar power, renewable solutions are gaining traction in the C&I segment as they allow commercial establishments and industries to decarbonize their energy consumption and cut down carbon footprint, embrace sustainability.
Dec 18, 2024, 1:02 pm IST
Inox Wind bags order from Serentica Renewables
Inox Wind Limited (IWL), India’s leading wind energy solutions provider, announced today that it has bagged a 60 MW order from Serentica Renewables (Serentica), a leading C&I focused renewable energy company in India. This order is for the supply of 3 MW class turbines to be delivered within H1 CY25. Additionally, IWL will provide multi-year post commissioning operations & maintenance (O&M) services for these WTGs, which will be erected at the hybrid renewable energy project site being developed by Serentica in Karnataka. The power generated from this project will be supplied to Serentica’s partners, including the Vedanta Group. This milestone order for IWL opens up large future opportunities to partner with another marquee C&I customer. In its quest to decarbonize energy intensive industries through green power, Serentica has ambitious plans to massively scale up its RE capacities.
Dec 18, 2024, 12:32 pm IST
Airtel partners with Indian Army to connect villages in the Kupwara, Baramulla and Bandipore districts along the Line of Control (LOC) in North Kashmir
Bharti Airtel, one of India’s leading telecommunications service providers has partnered with the Indian Army to bring connectivity to villages in the Kupwara, Baramulla and Bandipore districts along the Line of Control in North Kashmir. The company has deployed 15 mobile towers in this area, which will benefit the local population and also offer essential communication connections for soldiers stationed along the Line of Control, enabling them to stay in touch with their families and improve operational coordination. Under the PM Vibrant Village Programme, villages such as Kachhal, Balbir, Razdan Pass, Taya Top, Ustad, Kathi, and Cheema are now connected to the rest of the country. These villages are located in the Keran, Machhal, Tangdhar, Gurez, and Uri valley regions, spanning the three districts of Kupwara, Baramulla, and Bandipore. Airtel is the only private telecom operator providing its services in these regions.
Dec 18, 2024, 12:28 pm IST
Aurionpro’s Arya.ai launches AryaXAI
Arya.ai, an Aurionpro company, is pleased to announce the launch of AryaXAI, an advanced AI explainability (XAI) and alignment platform, tailored for mission-critical applications. As part of the Aurionpro Enterprise AI suite, AryaXAI empowers enterprises with a sophisticated observability stack to ensure their AI solutions are not only explainable but also safe and aligned with regulatory and ethical standards. The platform addresses the increasing demand for transparency and accountability in high-stakes industries where AI usage is subject to regulations and potential model failures can have profound consequences.
Dec 18, 2024, 12:02 pm IST
VA Tech Wabag Shares Slide 19% After Rs 2,700 Crore Saudi Order Cancellation
VA Tech Wabag, a leading technology company in the water sector, saw its shares plummet over 19% during early trade on Wednesday, December 18. The sharp decline followed the company’s announcement of the cancellation of a Rs 2,700 crore (7 million) order from the Saudi Water Authority, which was initially secured in September 2024. The order pertained to a 300 MLD Mega Sea Water Desalination Plant in Saudi Arabia.
Dec 18, 2024, 12:02 pm IST
Enviro Infra Engineers Shares Plunge 10% Ahead of Q2 Earnings Release
Shares of Enviro Infra Engineers tumbled 10% to Rs 342.5 during morning trade on December 18, as investors turned cautious ahead of the company’s second-quarter earnings announcement scheduled for later in the day. The sharp decline follows a significant 26% rally over the past five trading sessions.
Dec 18, 2024, 11:33 am IST
Akzo Nobel India Shares Surge Amid Reports of -2.5 Billion Deal Talks
Shares of Akzo Nobel India jumped nearly 6% in early trade on December 18, following reports of a potential -2.5 billion deal for the Dulux Paints maker. According to Livemint, the competition is heating up with Pidilite Industries, JSW Paints, and Indigo Paints reportedly in contention for the acquisition.
Dec 18, 2024, 11:32 am IST
Gujarat Industries Power Clears Key Approvals for Solar Projects
The Board of Gujarat Industries Power has approved the award of an EPC contract for the Balance of System (BoS) package to implement a 500 MW (AC) solar PV project in Khavda, Gujarat. Additionally, the Board sanctioned debt syndication for securing term loans for the 500 MW solar power project (Phase II) at Khavda, Kutch, and a 75 MW solar power project at Vastan.
Dec 18, 2024, 11:31 am IST
Exide Industries Infuses Rs 100 Crore into Exide Energy Solutions
Exide Industries has invested Rs 100 crore in its subsidiary, Exide Energy Solutions, through a rights issue. This brings the company's total investment in the subsidiary to Rs 3,152.24 crore. The shareholding percentage of Exide Industries in the subsidiary remains unchanged after this investment.
Dec 18, 2024, 11:31 am IST
Granules India Secures USFDA Nod for Lisdexamfetamine Dimesylate Tablets
Granules Pharmaceuticals, Inc. (GPI), a wholly-owned subsidiary of Granules India, has received approval from the U.S. Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Lisdexamfetamine Dimesylate Chewable Tablets.
Dec 18, 2024, 9:38 am IST
Stocks Live Updates: Gainers and Losers
Stocks like Dr Reddy, Shriram Finance, Sun Pharma, Cipla and Wipro were top gainers, while Tata Motors, L&T, Power Grid, BEL, and Maruti Suzuki emerged as top losers. Market witnessed selling pressure amidst weak global cues, while investors turned cautious ahead of Fed policy meeting outcomes.
Dec 18, 2024, 9:38 am IST
Market Live Upfates: Nifty Opening Bell
Nifty opened at 24,297.95, falling further to hit an intraday low of 24,273.10. The benchmark has touched an intraday high of 24,273.10. However, the 50-scrip index is struggling to maintain 24,300 mark,
Dec 18, 2024, 9:37 am IST
Market Live Updates: Sensex Opening Bell
Sensex opened at 80,666.26, and fell further to hit an intraday low of 80,496.57. The benchmark has touched an intraday high of 80,496.57, while its previous session's closing price is at 80,684.45.
Dec 18, 2024, 8:53 am IST
Market Live Updates: Key Stocks In Trend Today
Prashanth Tapse, Senior VP (Research), Mehta Equities: All eyes are on the Federal Open Market Committee’s interest rate decision today, with a 25-basis-point rate cut priced in, but traders suspect a possible pause or reduced cuts in 2025. Attention is on the Summary of Economic Projections (SEP) for clues, with equities expected to stay sluggish amid concerns over India’s slowing growth, China’s potential budget deficit increase, and looming Trump-era tariffs. Buzz surrounds ITC's hotel business demerger and Vishal Mega Mart’s market debut. Meanwhile, Nifty and Bank Nifty are seen under pressure, with key stocks like GRASIM recommended for a sell amid weakening momentum.
Dec 18, 2024, 8:37 am IST
Market Live Updates: Sebi To Reshape Offshore Derivative Instruments (ODIs)
Nikunj Saraf, VP, Choice Wealth: The Securities and Exchange Board of India (SEBI) has issued a bold circular to reshape Offshore Derivative Instruments (ODIs). The move aims to boost transparency, reduce systemic risks, and align foreign investments with India’s market conditions while tackling regulatory loopholes. Foreign Portfolio Investors (FPIs) must now navigate stricter rules, including separate ODI registrations and detailed disclosures. These steps enhance market integrity but limit flexibility and add compliance costs, potentially deterring short-term players. While restrictions on derivatives might tighten liquidity, they’re expected to attract long-term institutional investors who value transparency and market stability. By reducing speculative positions, SEBI’s reforms could lead to a more resilient equity market. SEBI’s measures are a double-edged sword, presenting challenges for operational ease but promising a stronger, more accountable market. These reforms signal India’s commitment to sustainable growth, positioning the country as a reliable hub for global investments.
Dec 18, 2024, 8:36 am IST
Market Live Updates: Stock Market Previous Session
The Indian stock market tumbled to a two-week low on Tuesday, December 17, as the Sensex nosedived 1,064 points to close at 80,684, while the Nifty50 plummeted 332 points to settle at 24,336. A broad-based sell-off hit investor sentiment, with 49 out of 50 Nifty stocks ending in the red amid cautiousness ahead of the US Federal Reserve's meeting and a worsening trade deficit.
Dec 18, 2024, 8:35 am IST
Stock Market Live Updates: Fed Meeting Outcomes
FOMC has concluded its two-days meeting from December 17, which is chaired by Jerome Powell. Th outcomes of the policy will be announced on December 18. In the past two policies, the Fed has trimmed fund rates by 75 bps. The latest cut was in November by 25 bps to to 4-1/2 to 4-3/4 percent. Fed's objective is to achieve maximum employment and inflation at the rate of 2 per cent over the longer run. FOMC's policy outcomes takes into consideration a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments.
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