Stock Market Live Updates: Nifty Below 23,400, Sensex Down 610 Pts; Trent Top Loser

The stock market witnessed a downturn today, with the Nifty falling below the 23,350 mark and the Sensex experiencing a plunge of 700 points. This decline was led by significant losses in the mid and small-cap sectors, each seeing a decrease of 2 percent.

The bearish trend was unanimous across all sectoral indices, with industries such as metals, media, pharmaceuticals, consumer durables, energy, and realty experiencing a drop ranging from 2 to 3 percent. This widespread decline indicates a challenging day for investors across the board.

The broader market sentiment was notably negative, as evidenced by the performance of the BSE Midcap and Smallcap indices. This downward movement reflects investors' cautious stance amidst market volatility.

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Feb 10, 2025, 3:30 pm IST

Result Update: Mahindra & Mahindra | Healthy Qtr; Growth Momentum To Continue

Saksham Kaushal of JM Financial Institutional Securities said, “Mahindra & Mahindra (M&M) reported 3QFY25 EBITDA margin of 14.6% (+180bps YoY). Both Auto and Farm EBIT margins were broadly in-line. Wholesale volumes (both Auto and Farm) grew in double-digits. And, the company has raised its FY25 domestic tractor industry vol. growth guidance to 7%+ (vs. ~6% earlier). Rural sentiments continue to remain positive led by higher reservoir levels and increase in MSP. In the auto segment, gradual addition to SUV capacity and recent / new launches are expected to drive volume growth momentum. Ramp-up of recently added capacity and higher operating leverage is expected to support margin performance. Driven by strong execution in autos and healthy outlook for farm segment, we maintain BUY with a Mar’26 TP of INR 3,625 (SOTP valuation, 23x core business). Success of upcoming launches (EV and ICE) remains a key monitorable.”

Feb 10, 2025, 3:03 pm IST

Result Update: Sobha | Performance Bottoming Out; Upgrade To BUY

Sumit Kumar of JM Financial Institutional Securities Limited said, “Sobha reported a subdued performance with bookings of INR 13.9bn (-29% YoY; +18% QoQ), which was 26% below our estimates. Total volume for the quarter stood at 1.0msf (-39% YoY; 9% QoQ) while better product mix led to 16% YoY growth in realisation. Delay in new launches has impacted the company’s performance over the last 2 quarters, and while it will fall short of the guidance in FY25, the strong project pipeline of c. 30msf provides healthy visibility going into FY26E; we expect the company to grow pre-sales at 18% CAGR over FY25-27E. The company is also gearing up to accelerate business development given the healthy liquidity position post successful closure of the rights issue. The stock has corrected meaningfully, reflecting the muted operational performance in YTDFY25 and it is currently trading at 0.8x P/NAV, which, we believe, is a favourable entry point. Hence, we upgrade SOBHA to BUY with a TP of INR 1,615.”

Feb 10, 2025, 2:30 pm IST

Result Update: ITC Ltd – Strong Cigarette Volume; FMCG Remains Muted (Buy, TP: Rs515)

“ITC’s Q3FY25 print was in-line compared to our estimates; revenue/EBITDA grew by 8.3%/0.3% while PAT declined by 9.7%. Cigarette net sales/EBIT grew 8.1%/4.1% supported by ~5% growth in cigarette volume while higher inflation and lack of price hikes impacted EBIT margin by 211bps by 60.5%. FMCG revenue grew 4.0%, though adjusting EBIT declined 26.6% (EBITDA margin: 8.5%) due to inflationary pressures witnessed in prices of edible oil, wheat, cocoa, packaging inputs etc. Strong performance continues in premium portfolio and alternate channels while GT observed low single digit growth. Agri revenue grew 9.7% with +21.6% EBIT, whereas Paper revenue marginally up by 3.1% with cut in EBIT by 30.6%. Gross margin declined to 53.8% (-255bps) YoY due to higher leaf tobacco prices along with higher food inflation. With higher other/employee expenses +9.3%/+7.2%, EBITDA margins cut to 33.3% (-264bps). By looking 9MFY25, we have tweaked our earnings and retain BUY with a revised DCF-based TP of Rs515 (implying 28.7x FY27E EPS),” said Centrum Broking.

Feb 10, 2025, 1:52 pm IST

Chandan Healthcare IPO Opens Today with ₹107 Crore SME Issue

The public offering for Chandan Healthcare, a prominent North Indian diagnostic center operator, commenced on February 10, with plans to continue until February 12. The company has set its sights on garnering upwards of ₹107 crore, with shares priced between ₹151 and ₹159. This fund-raising venture consists of a fresh issue of 44.52 lakh shares, valued at ₹70.79 crore, and a sale offer of 23 lakh shares, totaling ₹36.57 crore. Retail investors are required to purchase a minimum of 800 shares, translating to a starting investment of ₹1,27,200. The allocation of shares in the Chandan Healthcare IPO is strategically divided, ensuring a broad base of investor participation. A maximum of 50% of the shares are earmarked for qualified institutional buyers (QIBs), while retail investors and non-institutional investors (NIIs) are allocated a minimum of 35% and 15% of the offer, respectively. This structured distribution aims to provide a balanced opportunity for various investor classes to partake in the IPO.

Feb 10, 2025, 1:19 pm IST

FirstCry Sees 4% Surge as Q3 Loss Narrows Significantly to Rs 15 Crore

Brainbees Solutions, the parent company of FirstCry, witnessed a notable increase in its share price by over 4 percent on February 10, following the announcement of a substantial reduction in its net loss for the third quarter of fiscal year 2025. On February 8, the company disclosed a net loss of Rs 14.7 crore for the October-December quarter, a significant improvement of nearly 70 percent compared to the Rs 48.4 crore loss recorded in the same period the previous year. This financial recovery reflects the company's growing stability and efficiency in operations. The rise in FirstCry's share value was observed at a trading price of Rs 434.85 per share, marking an increase of 4.06 percent by 10:46 am on February 10. Despite this positive movement in the stock market, the company's shares are still trading relatively close to the lowest price they have ever reached, which is Rs 410 per share. At the moment, the share price is approximately 41 percent below its highest recorded level of Rs 734.25.

Feb 10, 2025, 12:27 pm IST

MTNL's Share Price Soars on the News of ₹6,000 Crore Investment for Enhanced Connectivity

On Monday, February 10, shares of Mahanagar Telephone Nigam Limited (MTNL) saw a significant spike, climbing nearly 10% following news that the Union Cabinet had greenlit a substantial funding package for 4G expansion. Reports suggest that nearly ₹6,000 crore will be allocated to both BSNL and MTNL, with the intent to enhance their capabilities and improve network services across the board. This decision comes on the heels of an announcement during the Union Cabinet meeting on February 7, marking a significant step towards upgrading India's telecom infrastructure. This financial boost is part of a series of efforts by the government, which has already invested ₹3.22 lakh crore in BSNL and MTNL since 2019 through three revival packages. These packages were designed to facilitate the rollout of 4G services, among other improvements. Due to these strategic investments, both telecom entities started posting operating profits from the fiscal year 2020-21, signaling a turnaround in their financial health.

Feb 10, 2025, 11:22 am IST

Stock Market Live Updates: Shipping Corporation of India Reports 7% Stock Plunge as Profits Fall

Shipping Corporation of India (SCI) Stock Price falls 5% today. SCI known as India's premier shipping company and operating under the Ministry of Ports, Shipping, and Waterways, experienced a significant downturn in its performance during the latest quarter. This downturn was reflected in a steep drop in its stock value, which tumbled by 7.3 percent to Rs 177 during the morning trading session on February 10. This decline in share value was a direct reaction to the company's below-par financial performance in its third-quarter earnings report. The financial results from the quarter highlighted a stark reduction in profitability, with SCI's net profit plummeting by 44 percent to Rs 75.5 crore. This was a significant fall from the Rs 134.4 crore reported in the same period the previous year. Additionally, the revenue generated from operations saw a marginal decrease, sliding down 2 percent to reach Rs 1,315.6 crore, compared to Rs 1,340.7 crore in the prior year. This notable decline in both profit and revenue has led to growing concerns among investors and stakeholders regarding the company's current financial health and future prospects.

Feb 10, 2025, 10:59 am IST

Stock Market Live Updates: Alkem Laboratories Stock Price falls 6% after Q3 results

Alkem Laboratories Stock Price falls 6% after Q3 results. In the December quarter, the company witnessed a modest 1.5 percent increase in operational revenue, reaching Rs 3,374 crore compared to Rs 3,324 crore in the corresponding period the previous year. This slight rise indicates a steady performance amidst market fluctuations. Following a year-on-year comparison, the firm achieved a notable 5 percent increase in net profit, marking it at Rs 626 crore for the quarter under discussion. This uptick in profit showcases the company's ability to enhance its financial health and investor appeal during the period. The revenue and profit growth reported by the company in the December quarter highlights its resilience and strategic business management. Despite only a modest increase in revenue, the significant rise in net profit suggests effective cost control measures and operational efficiency. In wrapping up, the company's financial outcomes for the December quarter show a promising blend of revenue growth and profitability enhancement. With a 1.5 percent rise in operational revenue and a 5 percent increase in net profit, the firm demonstrates its capability to navigate market challenges while ensuring financial stability and growth.

Feb 10, 2025, 10:31 am IST

Stocks Live Updates: Bharat Electronics Stock In Focus After New Order Win

Bharat Electronics stock price traded in red but marginally down on February 10, after winning new order. On February 8, Bharat Electronics, a leading defence public sector undertaking, announced it had secured orders totaling Rs 962 crore. A significant portion of this, Rs 610 crore, is dedicated to delivering an Electro-Optic Fire Control System (EOFCS), known as EON-51, to the Indian Navy. This advanced system is designed to enhance the navy's capabilities in terms of searching, detecting, and classifying targets. It achieves this through the use of sophisticated electro-optical and thermal imaging technology.

Feb 10, 2025, 10:18 am IST

Stock Market Live Updates: Cipla's Manufacturing Facility in Virgonagar Gets USFDA VAI Status

Cipla, a pharmaceutical company situated in Mumbai has announced to the stock exchanges that its production site located in Virgonagar, Bengaluru, has been granted a Voluntary Action Indicated status by the United States Food and Drug Administration (USFDA).

Feb 10, 2025, 9:34 am IST

Stock Market Live: Indices Open Lower Amid Weak Global Cues

The stock market started the day in the red, tracking weak international trends. The Sensex dropped 308.23 points (0.40%) to 77,551.96, while the Nifty declined 97.75 points (0.41%) to 23,462.20 in early trade.

Feb 10, 2025, 9:13 am IST

Stock Market Live Updates: Rupee Hits All-Time Low

The Indian rupee dropped 0.59% this morning, reaching a new record low of ₹87.94 against the US dollar, amid sustained pressure from global market trends.

Feb 10, 2025, 9:07 am IST

Rupee Vs Dollar

After closing at 87.42 on Friday, the Indian rupee kicked off Monday at an all-time low of 87.91 per dollar.

Feb 10, 2025, 9:02 am IST

Stock Market Live Updates: US Markets End in Red

US stock markets closed sharply lower on Friday as investor concerns over inflation and potential trade disruptions led to a broad-based sell-off. The Dow Jones Industrial Average (DJIA) plunged 444.23 points (-0.99%) to settle at 44,303.4, while the NASDAQ fell 268.59 points (-1.36%) to close at 19,523.4. The S&P 500 also declined 57.58 points (-0.95%), finishing the session at 6,025.99. The escalating trade concerns, coupled with persistent inflation worries, weighed heavily on investor sentiment, driving major indices into the red.

Feb 10, 2025, 8:58 am IST

Stock Market Live Updates: Asian Markets Mixed in Early Trade

Asian markets opened on a mixed note this morning, with some indices gaining while others saw slight declines. The Shanghai Composite edged up 0.28% to 3,312.94, while the Hang Seng Index (HSI) in Hong Kong surged 1.42%, adding 299.49 points to trade at 21,433.03. However, Japan’s Nikkei 225 slipped 0.1% to 38,746.96, and the Shenzhen Component declined 0.18% to 10,557.06. South Korea’s KOSPI remained nearly flat, inching up 0.05% to 2,523.1, while Australia’s ASX 200 dipped 0.29% to 8,486.7.

Feb 10, 2025, 8:42 am IST

Stock Market Live Updates: Markets In The Previous Close

On Friday, the stock market closed on a subdued note as investors reacted cautiously to the Reserve Bank of India's (RBI) rate cut decision. While rate cuts typically boost market sentiment, this move failed to trigger any major rally. Despite initial volatility, markets remained largely range-bound, at the closing bell, the BSE Sensex declined by 0.25%, losing 197.97 points to settle at 77,860. Meanwhile, the NSE Nifty 50 slipped 0.18%, down 43.4 points to end at 23,559.95. Despite initial volatility, markets remained largely range-bound

Feb 10, 2025, 8:29 am IST

India’s Market Resilience & Reform Agenda Keep Foreign Investors Hooked - Manoj Purohit, Partner & Leader, FS Tax, Tax & Regulatory Services, BDO India

With sound and pathbreaking reforms for making the financial services sector more robust, inclusive, and enhancing foreign participation, the government has clearly laid the roadmap for ‘Viksit Bharat’ vision on track. Though the FPI inflows have still not turned fully green, the announcements made in the Budget last week followed by the Central Bank’s policy release this week has made India back to the forefront as the fastest emerging economies of the world. Despite the macro factors such as fear of potential tariff and trade curbs to be announced by the newly elected US government, rising inflation risk, currency depreciation, trade wars looming around, India is well poised and self - insulated by strong measures and timely rate cut measures taken by the RBI to boost domestic investments and consumption keeping the market buoyancy live. The foreign investors fraternity are all set to take a plunge investing in the India market to get sound, effective net returns from a long-term perspective. The government too has echoed the sentiments by simplifying the tax regime, clarifying anomalies on taxation, extending several tax holidays in IFSC Gift City by another 5 years to keep the door open for them. Inviting 100% FDI in insurance will deepen the budding insurance market with more penetration, competitive policy framework pushing to adopt the global best practices in the insurance sector with the entry of large offshore players. Keeping technology, youth’s skill developments and infrastructure as primary areas to allot capex; the intention is very vivid to take India on being an autonomous nation with long term growth trajectory. Given the volatile, subtle, and unpredictable market events, India still stands grounded well with the government taking all rightful measures to make it ready to face the global economic challenges that lie ahead.

Feb 10, 2025, 8:27 am IST

FIIs Sell Heavily, But BJP’s Delhi Win and Rate Cut Boost Market Sentiment

As per Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, "FIIs continue to be in selling mode. In February through 7th, FIIs have sold equity for Rs 9090 crores in the cash market. They invested Rs 1478 crores through the primary market. In 2025, so far, FIIs have sold equity for Rs 90993 crores. The strength in the dollar index and the high US bond yields continue to force the FIIs to sell. Going forward, FIIs are likely to reduce their selling since the dollar index and US bond yields are indicating a softening trend. The sentiments in the Indian market are slowly improving in response to an excellent Budget and the rate cut by the MPC. The victory of the BJP in the Delhi elections is a major achievement for the ruling dispensation. This is likely to positively impact the market in the short run. However, the medium to long-term trend in the market will depend on the recovery in GDP growth and earnings recovery."