The Indian stock market closed this week on a negative note. Sensex closed 0.51% lower at Rs 70,700.67 points, while Nifty 50 was down 0.47% at 21,352.60 points. Tech Mahindra was the biggest loser in Nifty 50 pack, down almost 6%. At 2:08 pm IST, Sensex was down 0.83% at 70,501.91 points, while Nifty 50 was down 0.76% at 21,289.95 points.
BSE Sensex declined 343 points or 0.48% to 70,716 and Nifty 50 fell 84 points or 0.39% to 21,369. Nifty Bank fell 232 points to 44,849 and Nifty Midcap 100 surged marginally by 7 points to 47,431 at 9:58 am on Thursday. Shares of RailTel Corporation of India Ltd zoomed 9.75% in morning trade to 435.25 apiece today after it received work order from Navodaya Vidyalaya Samiti for Supply & Implementation of Integrated Infrastructure & IT solutions under PM SHRI Scheme in JNVs Schools amounting to Rs. 162.73 Crore (Including Taxes).
Shares of Mazagon Dock Shipbuilders Ltd gained 4.15% in early morning trade. Current market price fo Mazagon shares on BSE is Rs 2421.85 apiece.
Earlier on January 24, the benchmark indices snapped the two-day losing streak and pared some of the losses of the previous sessions to end with gain amid volatility in trading on January 24. At the end, BSE Sensex surged 689.76 points or 0.98% to 71,060, and the Nifty rose 215.15 points or 1.01% to 21,454.
When it comes to the US markets, the S&P 500 soared to its fourth straight record high close on January 24, as Netflix gained amid blowout quarterly results and a robust report from ASML fuelled gains in chipmakers. The S&P 500 soared 0.08% to end the session at 4,868.55 points.
As the S&P 500 surged, falling stocks outnumbered their rising peers within the index by a 2.5-to-1 ratio. The Nasdaq rose 0.36% to 15,481.92 points, while Dow Jones Industrial Average declined 0.26 percent to 37,806.39 points.
Asian markets largely declined as investors assessed South Korea's gross domestic product numbers and markets respond to China's central bank cutting reserve requirements for the country's lenders.
Bajaj Auto shares will be in limelight today after it reported a 37% year-on-year (YoY) increase in net profit for the third quarter of FY24 at Rs 2,041.88 crore pushed by strong sales of its two-wheelers, price hikes and higher realisations amid consistent demand. Its PAT during the corresponding quarter of last year declared at Rs 1,491.42 crore.
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Jan 25, 2024, 2:36 pm IST
Mazagon Dock Shipbuilders Inks Contract Worth RS 1,070 Crore With Ministry of Defence, Shares Trade Higher
Mazagon Dock Shipbuilders shares traded in the green on Thursday after the firm signed a contract worth RS 1,070 crore with the Ministry of Defence. The deal is for the delivery of 14 Fast Patrol Vessels (FPVs).
Jan 25, 2024, 1:45 pm IST
Rupee Gains Value Against USD, GBP and Euro Today Despite Sluggish Market Movements
The USD has consistently lost against the Rupee value for the past five days amidst strong Indian market performance. The USD-INR Futures expiring 29th Jan are firmly holding at the Rs. 83.12/- range, which is 0.02% lower today and a 0.12% fall since last Thursday. However, currency investors awaiting US quarterly GDP prelims scheduled today. The GBP Futures maturing 29th January have gained sharp momentum against GBP by 0.16%, currently trading at Rs. 105.78/-, while the Euro has fallen by 0.10% to float around Rs. 90.55/-.
Jan 25, 2024, 1:26 pm IST
Sharp India Limited Undergoes Change In Management, Rainbow Children's Medicare Inaugrates Hospital In Bengaluru
Appointment of Mr. Makarand Date (DIN: 08363458) as an Additional Director, Non-Independent Director, and Managing Director for three years with effect from February 01, 2024, on the Board of Directors of the Company with effect from January 25, 2024. It appoints Mr. Jaideep Palsule as Chief Financial Officer of the Company with effect from January 25, 2024, and Mr. Masahiko Nakagawasai resign from the Managing Director position of the Company with effect from January 31, 2024. Rainbow Children's Medicare has inaugurated a new ~90-bed spoke hospital, located at Sarjapur, Bengaluru, Karnataka with a project cost of Rs. 50 crores, and along with its subsidiaries has an existing total bed capacity of 1,715 beds in India.
Jan 25, 2024, 1:02 pm IST
Kotak Bank Notifies An Earnings Call, LT Foods Appoints New Auditors
Earnings Conference Call on the Consolidated and Standalone Unaudited Financial Results of the Bank for the quarter and nine months ended December 31, 2023, held on January 20, 2024, at
4:00 p.m. (IST). After Resignation of M/s Grant Thornton Bharat LLP as the Internal Auditor of the Company w.e.f. January 17, 2024, LT Foods Appoints Appointment of Protiviti India Member Private Limited, Consulting Expert as the Internal Auditor of the Company w.e.f. January 25, 2024. Also are exchanges about the appointment of Mr. Raju Lal (DIN: 10347298), on the recommendation of the Nomination & Remuneration Committee, as an Additional Director in the capacity of an Independent Director effective from January 25, 2024, subject to the approval of shareholders of the Company.
Jan 25, 2024, 12:36 pm IST
Sensex Tumbles Below By 575 points, Nifty Slips More than 165 Points In First Half
Nifty-50 stocks are trading in red by 0.75% while Sensex tumbled around 0.8% by mid-session today. Bajaj Auto, NTPC, and Coal India are in focus as prices have surged by 4.47%, 1.86%, and 1.42% respectively. On the other hand, TechM, Cipla, and Adani Enterprise are the biggest losers yet, falling 5.97%, 3.03%, and 2.8% respectively. Tata Steel and HDFC are among the highest-volume stocks so far.
Jan 25, 2024, 12:16 pm IST
Angel One Broking Hits 20 Million Clients, Pidilite Announces Investor Meet
The new-age fintech brand, consistently draws a growing number of younger clients, as it extends its reach beyond metros to Tier 2, 3, and beyond cities. Currently, they have achieved a robust milestone of 20 million mark. Mr. Dinesh Thakkar, Chairman and Managing Director, of Angel One Limited, said, “Our unwavering commitment to delivering digital-first financial solutions and an impeccable user experience resonates across all aspects of our business operations. Over the past year, Angel One has demonstrated substantial year-on-year growth, solidifying its position as the leading Fintech player in India. This achievement reinforces our dedication to excellence and innovation in the fintech industry, driving us to new heights as we continue to empower clients on their financial journey”. Pidilite Industries Limited has announced an investor meeting scheduled for 5th, 6th, and 13th February 2024.
Jan 25, 2024, 11:53 am IST
DLF Shares Surge Following Strong Q3 Performance
DLF witnesses a surge in trading as its Q3 performance earns accolades from brokerages with a notable 27% increase in net profit. The real estate giant's shares experienced a rise on January 25 following the impressive 26.6% year-on-year growth in consolidated net profit for the quarter concluding in December 2023. The profit stood at Rs 655.7 crore for the quarter, attributed to robust operating margins and increased other income. Additionally, revenue from operations demonstrated a 1.8% year-on-year upturn, reaching Rs 1,521.3 crore for the quarter.
Jan 25, 2024, 11:31 am IST
Borosil To Raise Funds Up To Rs 250 Crore Via QIP
Borosil has announced its intention to raise funds through a qualified institutions placement (QIP), with the board of directors granting approval for the fundraising initiative of up to Rs 250 crore.
Jan 25, 2024, 11:05 am IST
CONCOR Reports Q3 Profit At RS 331 Crore, Up 13% YoY
Container Corporation of India reported a 12.7% year-on-year increase in its consolidated net profit for the third quarter, reaching Rs 330.6 crore. The company also witnessed robust growth in its operating numbers. The consolidated revenue from operations displayed a healthy growth of 10.3% year-on-year, amounting to Rs 2,210.6 crore for the quarter.
PNB Housing Finance has reported a robust consolidated net profit of Rs 338.4 crore for the quarter ending December in FY24, marking a substantial 25.8% increase compared to the same period last year. The surge in profitability is attributed to a significant decrease in impairment on financial instruments and write-offs, which dropped from Rs 254.84 crore to Rs 59.1 crore during the corresponding period.
Despite the positive profit trend, revenue from operations experienced a slight dip, falling by 2.3% YoY to Rs 1,754.8 crore for the quarter. Investors and analysts are likely to scrutinize the details of PNB Housing Finance's Q3 performance to gain deeper insights into the factors influencing the company's financial health and its strategies for sustaining growth in the dynamic market landscape.
Jan 25, 2024, 10:37 am IST
Tata Steel Sees Minor Setback Following Q3 Results
Tata Steel Ltd has weathered the storm of European market challenges to report impressive third-quarter results. Despite trading with minor cuts of 0.60% at Rs 134.45 per share as of 10:25 am on the National Stock Exchange (NSE), the company's shares have delivered over 12% returns to investors in the last year.
Jan 25, 2024, 10:21 am IST
Zee Entertainment Moves NCLT After Sony Terminates Billion Deal
Zee Entertainment Enterprises Ltd (ZEEL) has escalated its fight to salvage the billion merger deal with Sony Pictures Network India. ZEEL, led by Punit Goenka, has moved the National Company Law Tribunal (NCLT) and the Singapore International Arbitration Centre (SIAC) after Sony's abrupt termination of the proposed amalgamation.
Jan 25, 2024, 9:48 am IST
Mazagon Dock Inks Rs 1070 Cr Contract With Defence Ministry, Shares Zoom
Mazagon Dock Shipbuilders has inked a contract with Acquisition wing of Ministry of Defence for construction and delivery of 14 Fast Patrol Vessels (FPVs) for Indian Coast Guard (ICG). The contract is worth Rs 1,070 crore. Mazagon Dock shares rallied over 4% in early morning trade. Last trading price of Mazagon Dock shares on BSE is Rs 2401.15 apiece.
Jan 25, 2024, 9:30 am IST
Rupee Falls Marginally Against US Dollar
Indian Rupee depreciated 2 paise to 83.14 against US Dollar in early morning trade.
Jan 25, 2024, 9:29 am IST
Top 5 Gainers and Losers Today
Source:NSE
Jan 25, 2024, 9:24 am IST
Sensex Today: Prashanth Tapse, Mehta Equities
In yesterday's trading, the Nifty showed a positive bias, closing at the session's high, and all sectoral indices ended in the green, including Bank Nifty. However, this Thursday morning, Gift Nifty indicates a lower open, struggling to maintain the positive momentum from Wall Street's strong close. Technical levels for Nifty and Bank Nifty suggest support and resistance at 21357/21807 and 44489, respectively. Nifty's options data implies a potential range of 21100-22000. Noteworthy global factors include China's rally, favourable US PCE inflation data, high European markets, and the Japanese Nikkei's 34-year high. However, volatility is expected due to the January F&O contracts expiry. Negative catalysts include FIIs selling, WTI Oil spiking, and diminishing prospects of US rate cuts.
Jan 25, 2024, 9:19 am IST
Oil prices Jump
Oil prices soared about 1% to a four-week high on Wednesday on a bigger-than-expected US crude storage withdrawal, a drop in US crude output, Chinese economic stimulus, geopolitical tensions and a weaker US dollar.
Brent futures rose .03, or 1.3%, to .58 a barrel by 12:03pm EST (1703 GMT). US West Texas Intermediate (WTI) crude rose .31, or 1.8%, to .68.
Jan 25, 2024, 8:21 am IST
Bajaj Auto Shares To Be In Focus After Healthy Q3 Results
Bajaj Auto Ltd declared a 37% year-on-year (YoY) surge in net profit for the third quarter of FY24 at Rs 2,041.88 crore on the back of strong sales of its two-wheelers, price hikes and higher realisations amid consistent demand. Its PAT during the corresponding period last year arrived at Rs 1,491.42 crore.
Aided by a better product mix in favour of premium vehicles, leading to a higher average selling price (ASP), the Pune-based automaker’s revenue witnessed a surge of 30% to Rs 12,113.51 crore during October-December 2023. Its turnover during Q3FY23 came at Rs 9,315 crore.
Jan 25, 2024, 8:17 am IST
Piramal Enterprises Arm To Acquire 10.39% Stake In Annapurna Finance
Piramal Alternatives Trust, a wholly-owned subsidiary of Piramal Enterprises, entered into an agreement on January 24, 2024 to acquire 10.39% stake in Annapurna Finance Private Limited for a cash consideration of Rs 300 crores by way of a purchase of equity shares and subscription to optionally convertible debentures amounting to Rs 300 crore.
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