By the afternoon trading session, the stock market showed signs of recovery after initial volatility. At around 1:50 PM, the BSE Sensex was trading at 75,901.99, down 37.22 points (0.049%), while the Nifty 50 dipped slightly to 22,919.95, losing 9.30 points (0.041%). The BSE Midcap index traded flat, indicating a stable performance among mid-sized companies, whereas the Smallcap index declined by 1%, Due to pressure in the broader market.Sectoral Performance was also down as FMCG, auto, media witnessed marginal declines
The Indian stock market, with its vibrant mix of large-cap, mid-cap, and small-cap companies, offers a broad spectrum of investment opportunities for both seasoned and novice investors. Today's market performance illustrated this diversity, with the BSE Midcap index experiencing a slight increase of 0.3%, while the Smallcap index saw a decrement of 0.4%. Notable activity was observed in shares of prominent companies such as Godfrey Phillips, M&M, GlaxoSmithKline, Manappuram Finance, and ICICI Bank, highlighting the dynamic nature of the market.
The Nifty Pharma index's rise by 1% underscores the resilience and potential of the pharmaceutical sector in India. Companies like Glenmark Pharma and Aurobindo Pharma, along with others such as Granules India and Sun Pharma, contributed significantly to this gain. This sector's performance is crucial for the economy, given its role in healthcare and as a major export revenue generator.
In the early trade, Gift Nifty traded at 22,973.5, higher by 42 points or 0.18%. Meanwhile, most Asian shares traded in a narrow range as concern over US trade tariffs and their impact globally. US stock futures surged in Asian trade.
The Indian rupee closed slightly down at 86.87 against the dollar on Monday, experiencing a slight decrease from its previous close of 86.83 on Friday.
Feb 17, 2025, 3:36 pm IST
Stock Market Live Updates: Jefferies Maintains ‘Buy’ Rating on Samvardhana Motherson Amid Target Price Adjustment
Samvardhana Motherson International Ltd's Share Price Dips 0.67% Today. In a recent financial update, it was revealed that the company's Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) saw a growth of 10 percent both on a year-on-year and quarter-on-quarter basis. However, this figure fell short of expectations by 5 percent. Despite this small setback, there was a notable improvement in the EBITDA margin in specific sectors, such as wiring harness and polymers, where it expanded between 60 to 130 basis points quarter-on-quarter.
Despite the challenging environment, the company has decided to revise its earnings per share (EPS) forecast for FY25 downwards by 9 percent. However, it has chosen to largely maintain its EPS estimates for FY26 and FY27.
Feb 17, 2025, 3:14 pm IST
Stock Market Live Updates: Singtel to Sell Airtel Shares Worth 1 Billion Dollar
Singapore Telecommunications Ltd (Singtel) is reportedly considering a new sale of its stake in Bharti Airtel, aiming for a deal worth billion or approximately Rs 8,500 crore. This news comes from CNBC-Awaaz, which cited unnamed sources for this update on February 17.
Currently, Singtel holds a 9.5% stake in the telecom giant Bharti Airtel, through its affiliate entity, Pastel Ltd. On the other hand, the promoter group led by Sunil Mittal, through Indian Continent Investment Ltd (ICIL), directly owns a 3.31% share in the company. This move by Singtel to offload part of its investment in Airtel could signify a reshuffling of the ownership structure within one of the leading telecom operators in the market.
Feb 17, 2025, 2:56 pm IST
IPO Updates: Hexaware Tech IPO Allotment Status and Latest GMP Insights
Hexaware Technologies Ltd, is set to list its shares on February 17. The company's Initial Public Offering (IPO) was valued at ₹8,750 crore.
The IPO received an overwhelming response, with the issue getting subscribed 2.66 times on its final bidding day. Institutional investors played a significant role in driving the demand, leading to a full subscription of the issue. The company established a price range of Rs 674-708 for each share for the IPO, indicating the value it believes the market will support for its shares.
Feb 17, 2025, 2:42 pm IST
IPO Updates: Quality Power Electrical Equipments IPO Surges to 78% Subscription in Just 2 Days!
Quality Power Electrical Equipments' Initial Public Offering (IPO) Receives Overwhelming Response, Reaching 78% Subscription in Just Two Days. With the window for subscription commencing on February 14 and set to conclude on February 18, investors have shown a keen interest in securing a stake in the company. Notably, the enthusiasm is not limited to a single category of investors but spans across various sectors.The non-institutional investor segment has exceeded expectations, securing a 1.02 times subscription. This indicates a strong confidence among these investors in the potential returns from Quality Power Electrical Equipments' market debut.
Retail individual investors (RIIs) have also shown significant interest, with their portion of the IPO subscribed 89%. On the other hand, qualified institutional buyers (QIBs) have been more cautious, with their subscription rate standing at 62%. The IPO's price range has been set at Rs 401 to Rs 425 per share, offering investors a structured entry point into the company's equity.
Feb 17, 2025, 2:22 pm IST
Sensex Live Updates : LTIMindtree Teams Up with Eurobank for Groundbreaking Banking Initiative
LTIMindtree has entered into a multi-year partnership with Eurobank, aiming to foster a comprehensive banking program. This collaboration marks a significant milestone for both entities as they work together to enhance banking solutions. The partnership is set to leverage LTIMindtree's extensive expertise in technology and innovation to deliver superior banking experiences to Eurobank's customers.
This strategic alliance underscores Eurobank's commitment to adopting cutting-edge technologies to improve its banking services. By joining forces with LTIMindtree, Eurobank is poised to introduce a range of innovative financial products and services that cater to the evolving needs of its clientele. The initiative reflects a shared vision between the two companies to redefine banking norms and set new industry standards.
Feb 17, 2025, 2:17 pm IST
Sensex Live Today : RDB Real Estate Eyes Fundraising Opportunities Amidst Sensex Movements
RDB Real Estate Shares Surge 9.98% Today. RDB Real Estate is set to consider proposals for raising funds On February 24. This move is anticipated to bring about significant developments within the organization, aiming for growth and expansion. The decision to explore various avenues for fund raising underscores the company's proactive approach towards capitalizing on opportunities and enhancing its financial health.
The agenda for the forthcoming meeting includes evaluating different strategies for securing additional funds. This could potentially involve issuing new shares, taking on debt, or exploring other innovative financing options. By bolstering its financial resources, RDB Real Estate aims to strengthen its position in the market and pursue new projects with vigor.
Feb 17, 2025, 1:41 pm IST
DEV IT Wins GEDA Contract
DEV Information Technology Limited, a global IT and ITeS company providing Cloud Services, Digital Transformation, Enterprise Applications, and Managed IT Services, has secured a contract from the Gujarat Energy Development Agency (GEDA) for the scanning and digitization of physical document records along with the development of a web-based Document Management System (DMS) software for GEDA’s Gandhinagar office. The project, valued at around ₹1.92 Cr, is a fixed-cost initiative expected to be completed within six months. This achievement reinforces DEV IT’s expertise in delivering advanced digital solutions and strengthens its presence in the government sector. By leveraging its deep expertise in managed IT services and enterprise applications, the company aims to digitize public sector infrastructure with efficient and secure document management solutions. Winning a project like this with GEDA not only reinforces DEV IT’s position in the government sector but also sets a strong precedent for future partnerships. It aligns with the company’s strategy to expand its footprint in government and public sector undertakings (PSUs). Successfully delivering on this contract could open doors to larger digital transformation initiatives across other government bodies and state agencies.
Feb 17, 2025, 1:32 pm IST
Stock Market Crashed On February 17: Why Sensex Dropped 645 Pts & Nifty Fell 204 Pts On Monday?
Broad-based selling pressure dragged the Indian stock market in the early trade of Monday, February 15. Sensex erased as much as 645 points to hit below 75,300 levels, while Nifty 50 nosedived by about 204 points to breach the 22,750 mark. So far this year, both benchmarks have underperformed in major global markets, signalling reversion from the overvaluation that was recorded between 2023 and 2024. Key reasons for market downfall this time would be a sharp slowdown in corporate results and stubborn selling by FIIs.
Bharti Airtel Limited (“Airtel”), one of India’s leading telecommunications service providers, landed the new SEA-ME-WE 6 (Southeast Asia-Middle EastWest Europe-6, or SMW6) in Chennai. The company had already landed the cable in Mumbai on December 30, 2024. These cable landings were completed by SubCom, a leading supplier of subsea fiber optic cable data systems responsible for the engineering, manufacture and installation of SEA-ME-WE-6. The 21,700 Rkm submarine cable system connects India to Singapore and France (Marseille) crossing Egypt through terrestrial cables. With this, Airtel has further enhanced its network presence with diversified capacity in the submarine cable system globally.
Feb 17, 2025, 12:30 pm IST
Mangalam Industrial Finance Ltd. (MIFL) Drives Green Mobility Forward with New Fleet Financing Initiative
In alignment with the Government of India’s ambitious mission to promote sustainable green mobility, Mangalam Industrial Finance Ltd. (MIFL), a leading Non- Banking Financial Company (NBFC) is pleased to announce its strategic commitment to financing electric mobility solutions through a new Fleet Financing initiative. As part of its forward-thinking approach to reducing carbon footprints and contributing to the national goal of sustainability, MIFL will provide funding to electric vehicle (EV) fleet operators across the country. This effort is a major step towards supporting the transition to a cleaner, more sustainable transportation ecosystem. With a focus on the growing demand for electric vehicles in the commercial transport sector, MIFL is set to offer specialized financing solutions for electric vehicle fleets, including electric buses, trucks, taxis, delivery vehicles, three-wheelers, and two-wheelers. The initiative aims to make green mobility a more accessible and viable option for fleet operators, with competitive terms and flexible repayment options.
Feb 17, 2025, 12:04 pm IST
GlaxoSmithKline Sees 20% Surge as Q3 Profits Soar Fivefold
GlaxoSmithKline Pharmaceuticals witnessed its shares soar to a 20% upper circuit, reaching ₹2,421.30 on the BSE, fueled by an extraordinary financial outcome for the December quarter of FY25. The pharmaceutical giant unveiled a net profit that was five times higher than the previous year, attributing this remarkable growth to stellar operational performance and the absence of significant one-time costs that had negatively affected earnings in the prior year.
Feb 17, 2025, 11:30 am IST
Arvind SmartSpaces Launches Major Development in Ahmedabad
Arvind SmartSpaces has announced a new plotted development project in Sanand, Ahmedabad. This venture is expected to generate a top-line potential of approximately Rs. 600 crore. The company continues to expand its footprint in the real estate sector, focusing on strategic locations that promise growth and opportunity.
Feb 17, 2025, 10:57 am IST
Zen Technologies Faces 17% Drop in Share Price Following Q3 Results
The shares of Zen Technologies saw a sharp decrease of over 17% in their early trading hours on Monday following the announcement of their third-quarter results. The significant drop led the stock to touch a low of ₹1,111.30 on the BSE. This decline occurred despite Zen Technologies, a prominent manufacturer of drones, reporting a 22% increase in net profit for the third quarter of FY25, achieving ₹38.62 crore up from ₹31.67 crore in the comparable quarter of the previous year. This profit boost was attributed to higher other income, though it marked a 40.8% decrease from the ₹65.24 crore net profit recorded in the preceding quarter.
Feb 17, 2025, 10:22 am IST
Ajax Engineering Weak Debut
Ajax Engineering, a firm specializing in concrete equipment manufacturing, entered the stock market with its shares trading at lower-than-expected prices. On the National Stock Exchange (NSE), the shares began at ₹576, marking an 8.43% decrease from their initial public offering (IPO) price of ₹629. Similarly, on the Bombay Stock Exchange (BSE), shares opened at ₹593, showing a 5.7% drop from the IPO price. This development occurred after the company's IPO, which was open for bids from February 10 to February 12, attracted significant attention, achieving 6.06 times oversubscription.
Feb 17, 2025, 10:09 am IST
Nifty Faces Historic 9-Day Slide
The market capitalisation of companies listed on the BSE fell below Rs 400 lakh crore, a level not seen since June 2024. This decline coincided with the Nifty 50 and Sensex extending their losing streak to nine sessions. The absence of strong domestic triggers has led investors to focus on global news, currency movements, and institutional flows for guidance.
Feb 17, 2025, 9:58 am IST
Stocks Live Updates: Real Estate Stock Falls
Arvind Smartspaces share price fell by 1.24% despite winning new residential plotted development project in Ahmedabad. This new project has potential to give revenue of Rs 600 crore to the realty company.
Feb 17, 2025, 9:31 am IST
Market Live Updates: Sensex, Nifty Struggle
Broad-based selloffs had dragged overall market, with India's volatility index surging by 7% and crossing 16 mark. Mdicap and smallcap indexes took the worst hit. All sectoral indices were in deep red with realty, PSU bank, metal, auto and media stocks taking the most beating. Check the latest performance of Nifty and Sensex.
Feb 17, 2025, 9:26 am IST
Stock Market Live Updates: Nifty Opening Price
Nifty opened at 22,809.90 and soon after touched an intraday low of 22,725.45.
Feb 17, 2025, 9:19 am IST
Forex Market Live Updates: Rupee Nears Record Low
Indian rupee traded at 86.6 per dollar levels in the opening bell of Monday, which was slightly away from its record low of 86.7 from this month, owing to higher supply of rupee from India's central bank and heightened expectations of a rate cut. Trading Economic data suggested, tight liquidity conditions stemmed by the RBI’s aggressive interventions on the foreign exchange market to defend the rupee drained bank reserves from key lenders, driving the central bank to a series of cash injections, longer-dated bond purchases, and depletion of its foreign exchange reserves.
Feb 17, 2025, 8:33 am IST
Market Live Updates: Which Stocks To Buy On February 17?
Shiju Koothupalakkal - Technical Analyst at Prabhudas Lilladher recommends buying in three stocks on February 17. These are: BUY CHALET HOTELS cmp 693.65 Target 735 Stop Loss 678; BUY TRIVENI ENGG cmp 370.85 Target 390 Stop Loss 360; BUY GLAXO cmp 2018 Target 2130 Stop Loss 1970.
Feb 17, 2025, 8:33 am IST
Market Live Updates: Nifty, Bank Nifty Support And Resistance For Monday
Shiju Koothupalakkal - Technical Analyst at Prabhudas Lilladher expects Nifty to find support at 22,700 and resistance around 23,200 on Monday. While Bank Nifty's support and resistance is seen around 48,600 and 49,700 respectively.
Feb 17, 2025, 8:30 am IST
Stock Market Live Updates: Traders Guide For This Week
Ajit Mishra – SVP, Research, Religare Broking: Technically, multiple retests of the January low at 22,800 have weakened its significance, increasing the likelihood of further downside. The next key support levels are now seen in the 22,100-22,500 range. In the event of a rebound, the first major hurdle stands at the 20-day exponential moving average (DEMA) of 23,350, followed by resistance at 23,600. Amid the prevailing pessimism, the relative strength of two key sectors—banking and IT—has helped cushion the broader decline. Traders should closely monitor their performance for signs of a potential directional shift. Meanwhile, despite oversold conditions, we maintain a cautious outlook on broader indices and advise against bottom fishing or averaging down on losing positions.
Feb 17, 2025, 8:29 am IST
Stock Market Live Updates: What Will Drive Market This Week?
Ajit Mishra – SVP, Research, Religare Broking: With the earnings season behind us, market focus will shift to trends in FII flows and currency movements for further cues. Additionally, speculation regarding U.S. tariffs and their impact on global trade will remain a key factor to watch. On the domestic front, high-frequency data releases such as HSBC Manufacturing PMI, HSBC Composite PMI, and HSBC Services PMI are scheduled for the upcoming week.
Feb 17, 2025, 8:21 am IST
Market Live Updates: Nifty Weekly Outlook
Choice Broking: Technical indicators suggest a bearish outlook, with key EMAs (20, 50, 100, 200) aligning in a downtrend. The Stochastic RSI is trading in the oversold region, while the RSI stands at 38, indicating persistent selling pressure. Market participants should closely watch the 22,800 level for further directional cues. Support Levels: 22700 - 22500. Resistance Levels: 23350-23500. Overall Bias: Sideways to Bearish.
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