Stock Market Live Updates: Market Trades Flat Amid Volatility, Sensex & Nifty Mildly Higher, Banks Drag

Indian stock market opened on a positive note with IT stocks driving the performance. Sensex neared 77,900 levels and Nifty climbed up to reach near 23,600 mark. TCS, Tech Mahindra and Infosys were top gainers. The share price of TCS rose nearly 5%, emerging as best performer of the early session, after its Q3 results.

However, market is volatile with midcap, smallcap, PSU Bank, media, metal, and realty stocks dragging the benchmarks, keeping them on the edge despite strong buying in IT stocks.

Gift Nifty was down by 77 points or 0.33% to trade at 23,583. TCS and Tata Elxsi share price will be in focus after their Q3 results for FY25.

In the early trade, Asian shares are down as investors observe Japan pay and household spending data, while US stock futures inched down. On the other hand, trading in Wall Street was closed on January 9th as US honoured former US president Jimmy Carter.

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Jan 10, 2025, 2:22 pm IST

Senores Pharmaceuticals Secures USFDA Approval for Blood Pressure Medication

Senores Pharmaceuticals has received final approval from the United States Food and Drug Administration (USFDA) to market Metoprolol Tartrate and Hydrochlorothiazide tablets USP in the US. The tablets, available in 50 mg/25 mg and 100 mg/25 mg doses, are used for treating hypertension and effectively lowering blood pressure.

Jan 10, 2025, 1:51 pm IST

NTPC Green Energy Subsidiary Commissions 60 MW Capacity In Solar Projects

NTPC Renewable Energy, a subsidiary of NTPC Green Energy, has successfully commissioned the second phase of its 60 MW capacity at the 320 MW Bhainsara Solar PV project, as well as 50 MW from the 220 MW Shajapur Solar project (Unit-II). With these additions, the subsidiary has now completed a total of 220 MW for the Bhainsara Solar project and 100 MW for the Shajapur Solar project.

Jan 10, 2025, 1:30 pm IST

Equitas Small Finance Bank Hikes Interest Rates On Savings Accounts

Equitas Small Finance Bank has announced an increase in interest rates for savings account holders, effective from January 10. Balances up to Rs 1 lakh will continue to earn an interest rate of 3%. For balances ranging from Rs 1 lakh to Rs 10 lakh, the rate will rise to 5%. Savings account balances between Rs 10 lakh and Rs 25 lakh will earn an interest rate of 7%, while those between Rs 25 lakh and Rs 1 crore will offer a rate of 7.25%. Accounts with balances from Rs 1 crore to Rs 25 crore will earn 7.50%. The interest rate for balances exceeding Rs 25 crore remains unchanged at 7.80%.

Jan 10, 2025, 1:09 pm IST

Delta Corp and Nazara Tech Shares Jump 7% After Supreme Court Stays GST Notices

Shares of Delta Corp and Nazara Technologies rose by up to 7% on January 10 after the Supreme Court stayed the GST show cause notices amounting to Rs 1.12 lakh crore against online gaming companies. The Court halted all proceedings related to the notices until the case is finally disposed of, with the next hearing scheduled for March 17.

Jan 10, 2025, 12:39 pm IST

GMR Airports To Sell 50% Stake In Megawide GMR Construction JV

GMR Airports International B.V. (GAIBV), a subsidiary of GMR Airports, has decided to divest its 50% stake in the Megawide GMR Construction JV, Inc. to Megawide Construction Corporation (MCC) for a consideration of PHP 80 million (approximately USD 1.365 million).

Jan 10, 2025, 11:59 am IST

Adani Wilmar Shares Fall 9.5% Amid Promoter’s Offer-for-Sale Launch

Shares of Adani Wilmar extended their downward trend for the third consecutive day, dropping 9.5% to Rs 292 per share on January 10. This decline comes as the promoter, Adani Commodities, launched a two-day offer-for-sale (OFS) aimed at non-retail investors, with the retail offer set to begin on January 13. Adani Commodities plans to sell 17 crore shares, representing 13.5% of the company’s total equity share capital, with an oversubscription option allowing an additional sale of 8.4 crore shares, or 6.5%. The OFS price is set at Rs 275 per share, reflecting a 6% discount to the day’s lowest price.

Jan 10, 2025, 11:48 am IST

Apollo Micro Systems Approves Rs 381 Crore Capital Raise via Preferential Issue

At its meeting on January 9, 2025, the Board of Directors of Apollo Micro Systems approved a plan to raise capital by issuing up to 3,34,18,806 equity shares with a face value of Rs 1 each. The shares will be issued at Rs 114 per share, including a premium of Rs 113, aggregating to Rs 380.97 crore on a preferential basis.

Jan 10, 2025, 11:41 am IST

Aditya Birla Real Estate Slides for Third Straight Day

Aditya Birla Real Estate Ltd (ABREL) continued its losing streak for the third consecutive day, weighed down by a recent Supreme Court ruling on a 10-acre plot in Worli. Despite this setback, Antique Stock Broking remains optimistic about ABREL's medium-to-long-term growth prospects. The brokerage has maintained its 'Buy' rating on the stock but revised its target price to Rs 3,448 from Rs 3,804.

Jan 10, 2025, 10:55 am IST

TCS Jumps Over 4% After Q3 Results; Analysts Stay Bullish

Tata Consultancy Services Ltd. (TCS) witnessed a gain of over 4% following its Q3 earnings announcement, with most analysts maintaining their "buy" or bullish outlook on the stock. Notably, CLSA has upgraded its rating, further reinforcing positive sentiment.

Jan 10, 2025, 10:25 am IST

Surya Roshni Secures Rs 81.47 Crore Order from BPCL

Surya Roshni has bagged an order worth Rs 81.47 crore from Bharat Petroleum Corporation Ltd (BPCL) to execute a city gas distribution (CGD) project across multiple locations in India.

Jan 10, 2025, 9:49 am IST

Market Live Updates: TCS Share Rally After Q4

TCS Share Price: Tata Consultancy Services (TCS) share price skyrocketed by nearly 5% despite muted Q3 earnings, however, investors take comfort in better outlook. TCS crossed Rs 4,200 mark, emerging among top performers of BSE and NSE. Brokerage Kotak Institutional Equities have recommended to Add TCS with target price seen at Rs 4,500.

Jan 10, 2025, 9:36 am IST

IT Stocks Drive Sensex, Nifty In Opening Bell

Indian stock market opened on a positive note with IT stocks driving the performance. Sensex neared 77,900 levels and Nifty climbed up to reach near 23,600 mark. TCS, Tech Mahindra and Infosys were top gainers. Check latest price of Sensex and Nifty:

Jan 10, 2025, 9:17 am IST

Indian Rupee Vs Dollar Opening

Indian rupee broadly muted at 85.91 per dollar in the early trade at interbank forex market, as dollar and crude oil prices continue to spike. Consistent outflow of FIIs continue to add pressure in the local currency. However, RBI is expected to intervene to curb rupee from its record low levels. On Friday, key data such as Indian Industrial Output and Manufacturing Output for November will further add to the sentiment in the currency. Also, US Nonfarm Payrolls (NFP), Unemployment Rate and Average Hourly Earnings are much-awaited which will give a brief clarity of Fed's policy outlook ahead and that will be important for dollar against basket of currencies and treasury yields.

Jan 10, 2025, 8:13 am IST

Market Live Updates: Equities Remain Cautious

Vikram Kasat, Head - Advisory, PL Capital - Prabhudas Lilladher: Indian equity benchmarks, the Sensex and Nifty, faced a sharp sell-off on Thursday, closing significantly lower as banking and financial stocks led the decline. The BSE Sensex dropped 513.72 points, or 0.65%, ending at 77,634.77, while the NSE Nifty fell by 164.75 points, or 0.69%, to settle at 23,524.20. The Nifty's support level at 23,500 is now under close scrutiny, with investors wary of further downside. Globally, a strong US dollar, rising crude oil prices, and fears surrounding Federal Reserve policy weighed on sentiment. The rupee weakened further, touching a record low of 85.92 against the dollar. As investors prepare for the December quarter earnings season and monitor Union Budget expectations, markets remain cautious amidst challenging conditions.

Jan 10, 2025, 8:11 am IST

Stock Market Live Updates: Mutual Funds In December 2024

Sanjay Agarwal, Senior Director, CareEdge Ratings: The Mutual Fund Industry’s AuM witnessed a reduction to Rs.66.93 lakh crore in December 2024 by 1.7% m-o-m, snapping a rising streak which had begun in April. The reduction can be attributed to the expected outflows in debt mutual funds of Rs.1.27 lakh crore. Liquid funds and money market fund outflows at nearly Rs.0.92 lakh crore accounted for the bulk of the same. These are typical quarterly redemption patterns of liquidity management and various corporates requirements. Meanwhile, equity funds have continued to record inflows for 44th consecutive month with all categories witnessing inflows. Thematic funds witnessed an increase in inflows from previous month, which accounted for 37% of the equity monthly inflows reflecting investors’ confidence for thematic opportunities and their aggressive positioning. Additionally, 33 open-ended NFOs were floated in December 2024, which mobilised Rs.0.14 lakh crore with sectoral/thematic funds accounting at Rs.0.11 lakh crore or a share of 83%.

Jan 10, 2025, 8:11 am IST

Market Live Updates: TCS Stock In Focus

India's largest IT company, Tata Consultancy Services (TCS) reported consolidated net profit of Rs 12,380 crore in the third quarter ending period December 31, 2024. The profit was attributable to owners of the company. The PAT was up by 11.95% YoY and 3.95% QoQ. Meanwhile, consolidated revenue from operations stood at Rs 63,973 crore in Q3FY25, higher from Rs 60,583 crore in Q3FY24, but marginally down from Rs 64,259 crore in Q2FY25.

Jan 10, 2025, 8:10 am IST

Market Live Updates: Tata Elxsi Share In Focus

Tata Elxsi, a 36-year-old Tata Group backed tech company, reported lower net profit to Rs 190 crore in Q3FY25, compared to Rs 206.43 crore in Q3FY24 and Rs 229.43 crore in Q2FY25. Meanwhile, top-line performance was mixed with revenue from operations coming at Rs 939.17 crore in Q3FY25, which was higher from revenue of Rs 914.23 crore in Q3FY24, but lower from Rs 955.08 crore in Q2FY25.