Feb 24, 2025, 2:46 pm IST
Stock Live Updates: IT Stocks Nosedive
IT stocks were major draggers of Indian stock market. Nifty IT index slipped by more than 2%. Big techs like HCL Tech, Infosys, TCS and TECH Mahindra were down by 2% to 3.5%.
Feb 24, 2025, 1:41 pm IST
Resilient FMCG and Pharma Sectors Shine Amid Market Decline
On February 24, 2025, the Indian stock market witnessed a significant downturn, with the Sensex plunging by 800 points and the Nifty falling below the 22,600 mark. This marked one of the weakest starts in the past eight months for the market, highlighting a broad sectoral decline. However, amidst this widespread red, FMCG, Pharma, and auto sectors emerged as beacons of resilience.
Particularly, FMCG and Pharma stocks demonstrated notable strength during this challenging period. By 1:00 pm on the same day, the Nifty Pharma index had edged up by 0.19 percent, while the Nifty FMCG index had rallied 570 points from its lowest point of the day, marking a 0.38 percent increase. This positive momentum was also reflected in the S&P BSE FMCG, which saw a modest gain of 0.14 percent to reach 18,968.43 points. Conversely, the S&P Healthcare index experienced a slight decrease of 0.25 percent, landing at 39,520.54 points, showcasing the mixed fortunes within the healthcare sector.
Feb 24, 2025, 12:25 pm IST
Bharti Airtel Faces 2% Share Price Decline
Bharti Airtel witnessed a decline in its share price by more than 2%, despite a notable collaboration with Apple, a leading iPhone manufacturer. The drop to ₹1,603.15 per share on the BSE occurred amidst a broader market slump, showcasing a slight setback for the telecommunications giant. This dip comes on the heels of Bharti Airtel's announcement about a strategic alliance aimed at offering Airtel customers access to Apple's streaming service, Apple TV+, and its music service, Apple Music.
Under this partnership, Airtel's Home Wi-Fi users on plans of ₹999 and above will be privy to the rich content library of Apple TV+. They have the flexibility to stream on various devices, even when on the go. Furthermore, Airtel's postpaid subscribers on similar plans will not only gain entry to Apple TV+ but can also enjoy a six-month complimentary subscription to Apple Music. This offer covers a wide range of music from both Indian and international artists. The telecom provider highlighted that this collaboration would provide an ad-free experience across all Apple TV+ originals, movies, and a free six-month access to Apple Music.
Feb 24, 2025, 11:53 am IST
INOX India becomes first Indian company to receive IATF 16949 Certification for Cryogenic Fuel Tanks
INOX India Limited (INOXCVA), one of the world’s leading cryogenic technology solution providers, has achieved a historic milestone by becoming India’s first cryogenic equipment manufacturer to receive the prestigious IATF 16949 certification for cryogenic fuel tank manufacturing. The certification, issued by Bureau Veritas Certification covers the design and manufacturing of vacuum insulated cryogenic fuel tanks. The IATF 16949 certification, a mandatory requirement for automotive OEM suppliers, validates INOX India's commitment to maintaining the highest quality management standards in the automotive industry. This certification positions INOX India as a pioneer in bridging the gap between cryogenic technology and automotive applications, particularly in the growing LNG fuel tank sector in India, as well as opens the door for entering the global market of heavy duty vehicle fuel tanks.
Feb 24, 2025, 11:37 am IST
Indegene Launches Cortex, A Fit-For-Purpose Generative AI Platform
Indegene, a digital-first, life sciences commercialization company, launched Cortex, a fit-for-purpose Generative AI (GenAI) platform, verticalized for the life sciences industry. As a life sciences-specialist knowledge engineering and multiagent orchestration platform, Cortex by Indegene enables life sciences leaders to adopt and scale this transformative technology with enterprise-grade governance. This innovative platform is strategically essential to developing and scaling high-value life sciences use cases such as streamlining the content supply chain, making medical writing more effective and efficient, and accelerating Medical-Legal-Regulatory (MLR) reviews. Its knowledge engineering interface codifies Indegene’s 25+ years of subject matter expertise into advanced knowledge graphs using a domainfriendly interface. Moreover, its fit-for-purpose agents can be configured with any preferred Large Language Model (LLM) and evolve as LLM state-of-the-art improves. Further, its multi-agent orchestration enables use case-specific applications for enterprise-wide system integration.
Feb 24, 2025, 11:07 am IST
EaseMyTrip’s Subsidiaries, YoloBus and Easy Green Mobility wins Madhya Pradesh’s Only First Inter-City Electric Bus Tender
EaseMyTrip.com, one of India’s leading online travel tech platforms, through its wholly owned subsidiaries, YoloBus and Easy Green Mobility have achieved a groundbreaking milestone by winning Madhya Pradesh Government’s only first inter-city electric buses tender Issued by Sagar City Transport Services Limited (SCTSL). Said electric buses shall be operated by EaseMyTrip’s operating arm YoloBus & manufactured by Easy Green Mobility. This historic win directly addresses the pressing market challenge of limited electric bus supply amid high demand, while aligning with the state’s ambitious vision for sustainable public transportation. For this project, the first batch of state-of-the-art electric buses will be deployed in August 2025. Each bus is engineered to deliver an unmatched blend of advanced technology, passenger comfort, and environmental efficiency—ensuring a seamless, safe, and green travel experience
Feb 24, 2025, 11:07 am IST
Veranda Learning acquires BB Virtuals and Navkar
Veranda Learning Solutions (BSE: 543514, NSE: VERANDA), which offers end-to-end solutions in the education space, has taken a 40.41% stake in BB Publications Private Limited (“BB Virtuals”) and acquired 65% stake in Navkar Digital Institute Private Limited (“Navkar Digital”). Veranda Learning will acquire an additional 10.59% stake in BB Virtuals by June 2025. The acquisitions amplify Veranda Learning’s position as a leader in commerce education across India and the company’s commerce vertical is expected to achieve a pro forma EBITDA exceeding Rs 120 crores for FY25. BB Virtuals, founded by the renowned Chartered Accountant (CA) educator Mr. Bhanwar Borana, has established itself as a top-notch online platform for CA and commerce aspirants. With a strong focus on accessible and high-quality resources, BB Virtuals has trained over 200,000 students online, producing more than 500 all-India rank-holders. Notably, the top four All-India rankers in the November 2024 CA Final Results—Mr. Rishabh Ostwal (Rank 1, shared with Mr. Heramb Maheswari), Ms. Riya Kunjankumar Shah (Rank 2), Ms. Kinjal Ajmera (Rank 3), and Ms. Poonam Sheoran (Rank 4)— were students of BB Virtuals' online platform, highlighting its impact on CA education.
Feb 24, 2025, 10:23 am IST
Global Packaging Major, Indorama Ventures, to Acquire a Minority Stake from Blackstone in EPL Limited
Blackstone (NYSE:BX) today announced that private equity funds managed by Blackstone have entered into a definitive agreement with Indorama Netherlands, B.V. (“INBV” or “Investor”), a group entity of Indorama Ventures Public Company Limited (“IVL”) to sell a minority stake in EPL Limited ("EPL"), a leading global specialty packaging company and the largest global manufacturer of laminated tubes. Pursuant to the definitive agreements, INBV will acquire a minority stake of ~24.9% of EPL from Blackstone at a purchase price of INR 240 per share. The sale is expected to be completed in the coming months, subject to customary closing conditions and approvals.
Feb 24, 2025, 9:38 am IST
Nifty Struggles As Daily RSI Drops To 37; Key Support At 22,600
“As the broader trend remains bearish, the formation of a classical Doji on the weekly chart signals a potential reversal but lacks confirmation. The daily RSI continues to weaken at 37, reflecting subdued momentum. The resistance is placed at 22,950, followed by 23,050, while key support rests in the 22,600 zone. Considering the broader chart and the prevailing bearish trend there might be a minor pain towards the 22,500-22,600 zone before a potential rebound from lower levels. At this stage, a measured approach is advisable—avoiding both undue optimism and excessive pessimism—as the market seeks clarity on its next move,” stated Om Mehra, Technical Analyst, SAMCO Securities.
Feb 24, 2025, 9:36 am IST
Opening Bell
Amid conflicting global signals, the Indian stock market started down on Monday. The market is being hampered by persistent FII selling and global uncertainty surrounding Trump tariffs, which caused the Nifty to begin at 22,609.35 while the Sensex fell by almost 550 points to the 74,775 level.
Feb 24, 2025, 9:22 am IST
Directionless Nifty Bank Keeps Traders Cautious
“On the daily chart, the index has formed an indecision candlestick pattern near support, highlighting uncertainty in the broader trend. While consistent selling pressure hints at underlying weakness, the absence of strong follow-through above resistance levels raises concerns over sustainability. The 48,700-48,500 range remains a critical buffer against deeper declines, whereas 49,800-49,900, once a strong demand zone, has now transformed into a key resistance area due to aggressive call writing and the presence of a short-term moving average. A decisive breakout from this range will determine the index’s next major move,” commented Dhupesh Dhameja, Derivatives Analyst, SAMCO Securities.
Feb 24, 2025, 9:21 am IST
Nifty Bank Options Market Insights By Dhupesh Dhameja, Derivatives Analyst, SAMCO Securities
Derivatives data points to a slightly bearish undertone, with call sellers dominating put writers, reflecting a cautious stance among traders. A sharp increase in open interest at the 50,000-strike call (18.72 lakh contracts) reinforces it as a formidable resistance zone. Conversely, strong put writing at the 48,000 strike (12.79 lakh contracts) indicates firm support, suggesting bulls are actively defending lower levels. The 49,000–49,500 range continues to witness heavy call writing and selling pressure, while the unwinding of put options at lower strikes signals a gradual shift towards weaker support levels. The Put-Call Ratio (PCR) dipped from 0.76 to 0.65, indicating increasing bearish pressure. Despite the rise in volatility, the ‘Max Pain’ level at 49,500 suggests that sharp downside moves may be contained unless key supports are breached, which could trigger accelerated selling pressure.
Feb 24, 2025, 9:21 am IST
Nifty Prediction Today By Anand James, Chief Market Strategist, Geojit Financial Services
While there was no dramatic collapse last week, four consecutive days of decline did succeed in pushing Nifty to the lowest point since the ongoing downtrend began on 27th September. We are set to see 22580-22300 now. Reversal chances rest on the ability to avoid downsides beyond these objectives, or an outright swing back above 22790. We would however look for a break above 22950 as a confirmation of strength.
Feb 24, 2025, 9:14 am IST
Rupee Vs Dollar
Monday saw the Indian rupee commence at 86.58 per dollar, gaining 13 paise from Friday's wrap-up of 86.71.
Feb 24, 2025, 9:08 am IST
Market Outlook Today By Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
The market is facing headwinds from relentless FII selling and global uncertainties relating to Trump tariffs. The sharp surge in Chinese stocks is another near-term headwind. The ‘Sell India, Buy China’ trade may continue for some time since Chinese stocks continue to be attractive. The sharp spike in CBOE VIX indicates that volatility will continue for some time. In the US, long-term inflation expectations are rising and, therefore, the expected rate cut by the Fed is unlikely to materialise. The Fed might even turn hawkish, impacting US stock markets. If this happens and the US bond yields start declining, FIIs may cease to be sellers in India and may even resume buying. The near-term scenario is highly uncertain.
The positive factor in our market is that the valuations of largecaps have turned fair and in certain segments like financials attractive, giving opportunities for long-term investors to buy. Even though the broader market valuations continue to be high, there are opportunities in select stocks in this segment.
Feb 24, 2025, 8:39 am IST
Nifty Options Market Insights By Dhupesh Dhameja, Derivatives Analyst, SAMCO Securities
Derivatives data reflects a bearish undertone, with call writers maintaining dominance over put sellers, signalling a cautious outlook. A substantial buildup in open interest at the 23,000-strike call (1.09 crore contracts) confirms a firm resistance zone, while strong put writing at the 22,000 strike (94.62 lakh contracts) underscores solid support at lower levels. The 23,000–23,500 range remains under intense call writing and selling pressure; while unwinding at lower put strikes and shifting to even lower levels further raise concerns about market weakness. The Put-Call Ratio (PCR) declined to 0.73 from 0.81, indicating that sellers continue to hold an upper hand despite intermittent buying attempts. Meanwhile, the ‘Max Pain’ level at 23,000 suggests that while market fluctuations persist, buyers may continue to absorb declines, providing near-term stability.
Feb 24, 2025, 8:39 am IST
Nifty Outlook Today By Dhupesh Dhameja, Derivatives Analyst, SAMCO Securities
On the daily chart, the index has formed an indecision candle at the support zone, highlighting uncertainty in the broader trend. While persistent selling pressure suggests underlying weakness, the inability to sustain above resistance levels raises concerns about the durability of the trend. The 22,800–22,700 zone has emerged as a strong buffer against deeper declines, while the 23,000 level, once a demand area, has now turned into a stiff resistance due to aggressive call writing and the presence of short-term moving averages. A definitive breakout from this consolidation phase will dictate the market’s next significant move.
Feb 24, 2025, 8:35 am IST
U.S Tariffs and its Implications on Pharma Industry
Sushil Suri, CMD at Morepen Labs said, "The strength of the generics industry lies in its ability to provide high-quality medicines at affordable prices. Any increase in tariffs could challenge this cost-effectiveness, making it harder for the U.S. to procure essential drugs at competitive prices. Given that Indian manufacturers operate on thin margins, the direct impact on us may be limited, but the larger burden will ultimately fall on patients, healthcare systems, and insurers. Proposing a zero percent tariff could be a welcome step, but it remains to be seen how this will translate into policy. A tariff-free framework would ensure continued access to affordable medicines and reinforce India’s role as a trusted global pharmaceutical partner."
Feb 24, 2025, 8:16 am IST
Aster DM Healthcare In Focus
At the Invest Kerala Global Summit 2025, Aster DM Healthcare reiterates its aim to spend Rs 850cr over the next three years in Kerala to expand its medical services, infrastructure, and job creation in the area. Aster's leadership in Kerala's healthcare system is further cemented with this investment, which builds on the Rs 500cr it has previously invested in the state over the previous three years.
Feb 24, 2025, 8:06 am IST
Market Outlook Today By Osho Krishnan, Sr. Analyst, Technical & Derivatives of - Angel One
In light of the shortened monthly expiry week and the prevailing global uncertainties, we can expect an uptick in market volatility. Given the current landscape, it is prudent for traders to refrain from making overly aggressive bets and to adopt a more cautious approach, maintaining lighter positions on both the bullish and bearish sides. Furthermore, the inherent vulnerabilities within the market highlight the critical importance of vigilance. Traders should proactively consider various risk management strategies to navigate the evolving conditions effectively, ensuring they are prepared for potential market shifts.
Feb 24, 2025, 8:06 am IST
Nifty Outlook Today By Osho Krishnan, Sr. Analyst, Technical & Derivatives of - Angel One
The benchmark index has been under pressure over the past 13 trading sessions, with the exception of a brief respite at the beginning of the week. Unfortunately, that single day of positive movement did not lead to any lasting improvements or beneficial effects on the overall market trend. Since NIFTY has been hovering around the lower band of 22900 - 22700 for the last few days and has rejected all attempts to convincingly cross the 23000 mark, the key support of 22700 seems in jeopardy. As a result, we would see it entering a crucial support zone of 22700 - 22400, where the actual litmus test lies for our markets. This scenario would likely heighten volatility and amplify concerns among investors; but we would advise traders to not get carried away and should avoid staying aggressive short in the market. Let the market decide its next course of action during the monthly expiry week. The first obstacle is located at 23000-23150, corresponding to the 20-DEMA, followed closely by 23300-23350, which marks the upper band of the wedge pattern. It is only through a decisive breach of these resistances that some relief and upward movement may be restored for market participants, potentially providing a much-needed boost to investor confidence.
Click it and Unblock the Notifications
Sign in with Google