The Indian stock market ended on a weaker note on September 27, with the Nifty closing below the 26,200 mark and the Sensex falling by 230 points. Despite the overall downturn, the BSE Midcap and Smallcap indices managed to end relatively flat, indicating mixed activity among mid- and small-cap stocks.
Among the top losers on the Nifty were Power Grid Corp, Bharti Airtel, HDFC Bank, ICICI Bank, and Hero MotoCorp. On the other hand, BPCL, Cipla, Sun Pharma, Coal India, and Bajaj Finserv emerged as the top gainers, providing some support to the index.
The sectoral performance was mixed, with indices for auto, metal, IT, pharma, and oil & gas witnessing gains of 0.5-1%. In contrast, sectors like realty, banking, media, FMCG, and telecom experienced declines of 0.5-1%, dragging the market down.
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Sep 27, 2024, 3:38 pm IST
Market Ends In Red
The Indian stock market ended on a weaker note on September 27, with the Nifty closing below the 26,200 mark and the Sensex falling by 230 points. Despite the overall downturn, the BSE Midcap and Smallcap indices managed to end relatively flat, indicating mixed activity among mid- and small-cap stocks.
Sep 27, 2024, 2:39 pm IST
Bharat Petroleum Shares Hit New High Amid Surge in Trading Volume
Bharat Petroleum Corporation (BPCL) shares experienced a surge of approximately 7%, reaching a new record high of Rs 370.50 on the NSE, driven by substantial trading volumes. By midday, a total of three crore shares of BPCL had changed hands across BSE and NSE, significantly higher than the one-month average of one crore shares.
As of 2:30 pm, BPCL shares were trading 6.5% higher at Rs 367.50 on the NSE. Year-to-date, the stock has seen an impressive gain of 62%, outpacing the benchmark Nifty, which has risen by 18% during the same period.
Sep 27, 2024, 1:58 pm IST
Bondada Engineering Stock Soars 5% Following Rs 468 Crore Order from KPI Green
Shares of Bondada Engineering experienced a 5% rise in morning trading on September 27, following the announcement of a significant order worth Rs 468 crore from KPI Green. The order, which involves the supply of materials and installation of a 130 MWp/100MWac solar power generation plant, has also led to increased trading activity, with 2,00,000 shares exchanged—surpassing the average daily trading volume of 1,00,000 shares over the past month. The project is expected to be completed within the next 12 months.
Sep 27, 2024, 1:35 pm IST
Torrent Pharmaceuticals Refutes CDSCO Quality Test Allegations
Torrent Pharmaceuticals has rejected allegations that its product, Shelcal 500, failed a quality test conducted by the Central Drugs Standard Control Organization (CDSCO). The company clarified that the sample seized by the CDSCO was not produced by them and is, in fact, non-genuine and counterfeit. Torrent reiterated its commitment to adhering to Good Manufacturing Practices (GMP) and ensuring that all its products meet established specifications and regulatory standards.
Sep 27, 2024, 1:15 pm IST
Ola Electric Technologies Achieves Compliance Certification Under PLI Scheme
Ola Electric Mobility Limited's key subsidiary, Ola Electric Technologies, has secured a Compliance Certification for meeting the eligibility assessment requirements under the Production Linked Incentive (PLI) Scheme for automobiles and auto components. This certification applies to its Ola S1 X 2kWh scooter.
Sep 27, 2024, 12:37 pm IST
SpiceJet Shares Rise as Airline Clears Rs 71 Crore in GST Dues Following Rs 3,000 Crore Fundraise
Budget airline SpiceJet's shares gained on September 27 after the company announced that it had cleared all its Goods and Services Tax (GST) dues amounting to around Rs 71 crore. This comes shortly after SpiceJet raised Rs 3,000 crore through a Qualified Institutional Placement (QIP).
"SpiceJet has cleared all its GST dues, demonstrating its commitment to maintaining financial discipline and regulatory compliance," the airline stated. Additionally, on September 26, SpiceJet announced it had settled pending salary dues worth Rs 80 crore for the period from June to August.
As of 12:30 pm on September 27, SpiceJet's shares were trading nearly 1% higher at Rs 62.36 per share on the BSE.
Sep 27, 2024, 12:33 pm IST
KP Energy Secures 30 MW Wind Project in Gujarat, Expands Power Capacity
KP Energy announced on Thursday that it has been awarded a 30 MW wind power project in Gujarat. According to an exchange filing, the power generated from this project will be supplied to Gujarat Urja Vikas Nigam Limited (GUVNL) under the terms of a Power Purchase Agreement (PPA). This development will increase KP Energy's independent power producing (IPP) capacity to approximately 50 MW.
Sep 27, 2024, 11:38 am IST
Bondada Engineering Shares Rally After Big Order
Bondada Engineering stock zoomed nearly 5% after the company bagged order worth Rs 468 crore from KPI Green Energy.
Sep 27, 2024, 11:34 am IST
SJVN Shares Jump
The PSU stock jumped more than 2.5% after it signed two MoUs with Maharashtra government for the development of pumped storage project. The investment for the project is up to Rs 48,000 crore.
Sep 27, 2024, 10:40 am IST
Zomato Share Price Falls After Swiggy IPO Files Updated Draft
Listed online good delivery giant Zomato shares dropped by nearly 4% on BSE after its rival Swiggy filed updated draft propsectus with Sebi to launch its IPO. Swiggy IPO is a mixture of Rs 3,750 crore fresh issue and offer for sale.
Sep 27, 2024, 9:58 am IST
Lemon Tree Hotels Shares In Focus
The Lemon Tree Hotel in Sasan Gir, Gujarat, is the newest addition to Lemon Tree Hotels. It is anticipated that the property would open in Fiscal Year 2026 and be operated by Carnation Hotels Private Limited, a wholly-owned subsidiary of Lemon Tree Hotels Limited.
Sep 27, 2024, 9:33 am IST
Opening Bell
Indian benchmark indices opened higher on Friday tracking strong global cues. Nifty started the day above the 26,248 level while Sensex opened higher at 85,893.84 compared to the previous close of 85,787.61.
Sep 27, 2024, 9:22 am IST
Nifty Derivative Outlook Today By Anand James, Chief Market Strategist, Geojit Financial Services
Nifty weekly contract has highest open interest at 26250 for Calls and 26200 for Puts while monthly contracts have highest open interest at 26250 for Calls and 26200 for Puts. Highest new OI addition was seen at 26250 for Calls and 26200 for Puts in weekly and at 26250 for Calls and 26200 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 14.21%, decreased future index shorts by 34.05% and in index options by 32.26% decrease in Call longs, 40.56% decrease in Call short, 30.89% decrease in Put longs and 35.95% decrease in Put shorts.
The 26060/100 region capped upsides for most part of the day and even started off with a decline from the top, all along anticipated lines. But the slippages lasted barely a few moments, and the run up in the closing hour took off with such a ferocity that even our medium term objective 26600 stood a fair chance to be achieved on the same day. Bringing the participant wise figures into perspective, FIIs covered 34% of their shorts yesterday from their index future portfolio, that atleast partly explains the strength. Now, this takes up their long proportion to 79.9%, a near term extremity. Last expiry also panned out under similar circumstances, albeit with a lower OI count. And it took three days of moderate gains post expiry, for a substantial decline to unfold. For the day, an open above 26200 will render the trend unstable calling for falls to 26020, while an open within 26200-170 could lend a consolidation bias that could extend yesterday’s upsides. Alternatively, direct fall below 26130 could dilute upside momentum.
Sep 27, 2024, 9:18 am IST
Rupee Vs Dollar
Compared to Thursday's closing, the rupee kicks off on a flat note on Friday at 83.64/USD.
Sep 27, 2024, 9:17 am IST
KEC International Share Price In Focus
In its meeting held on September 26, 2024, the Committee of Directors authorized the issuing and allotment of 91,11,630 equity shares at an issue price of Rs 955 per equity share, or a total of Rs 870.16 crores, to qualified institutional buyers. The company's paid-up equity share capital grew from Rs 51,41,76,740, comprising 25,70,88,370 equity shares, to Rs 53,24,00,000, comprising 26,62,00,000 equity shares, as a result of the allotment of equity shares in the issue.
Sep 27, 2024, 8:39 am IST
Ola Electric Mobility Share Price In Focus
With the "Network Partner Program," Ola Electric onboards more than 600 partners to speed up the adoption of EVs and #EndICEAge PAN India. The goal of Ola Electric's Network Partner Program is to spread the EV revolution throughout India. In order to increase its sales presence throughout India, Ola Electric has onboarded 625 partners under this program. By the festive season this year, the company aims to have 1,000 partners. By the end of 2025, 10,000 partners are expected to be onboarded for sales and service as part of an ambitious network expansion strategy.
Sep 27, 2024, 8:18 am IST
Muthoot Finance Share Price In Focus
For violating SEBI Listing Regulation 44(5), Muthoot Finance received a penalty of Rs. 25,000/-by both the National Stock Exchange of India Limited and the BSE Limited on Thursday.
Sep 27, 2024, 7:57 am IST
Nifty Outlook Today By Rupak De, Senior Technical Analyst, LKP Securities
The Nifty has broken out of consolidation on the daily timeframe, indicating increasing bullish momentum. The sentiment is expected to stay positive as the index closed above a key moving average. A drop below 26,000 might disrupt the current bullish trend, but until then, the strength is likely to persist in the index.
Sep 27, 2024, 7:57 am IST
LIC Shares In Focus
The establishment of a cutting-edge Testing Center of Excellence (TCoE) in Bhubaneswar has been announced by LIC. This strategic action highlights LIC's dedication to both operational excellence and technical innovation.
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