Equity indices traded higher today, riding the positive momentum from the US markets. At the closing bell, the BSE Sensex ended 234.12 points higher, up 0.30%, at 78,199.11, while the Nifty 50 settled at 23,700, gaining 76.90 points or 0.33%.
Most sectoral indices closed in the green, with notable gains across various sectors. However, the IT index declined by 0.6%, and Nifty Metal fell by 0.68% during the session. Top gainers included ONGC, which surged by 3.79%, followed by Tata Motors, Adani Enterprises, and SBI Life Insurance. On the flip side, TCS, HCL Tech, and Eicher Motors were among the top laggards for the day.
The stock market opened on a positive note on Tuesday morning following the bloodbath yesterday.. At the opening bell, the Sensex rose to 78,346.43, gaining 381.44 points (0.49%), while the Nifty was up at 23,730.35, increasing by 114.30 points (0.48%).
The GIFT Nifty is indicating a positive start for the day. As of 8:15 AM, the GIFT Nifty was trading in green at 23,811.5, gaining 0.32% since the last close.
Yesterday, the benchmark indices saw a significant fall as news regarding the HMPV virus dampened investor sentiment. At the close, the Nifty was down 388.70 points, or 1.62%, at 23,616.05. The Sensex declined by 1,258.12 points, or 1.59%, closing at 77,964.99.
In the global markets, the Dow Jones Industrial Average (DJIA) extended its decline. However, both the S&P 500 and the Nasdaq Composite rose on Monday to reach more than one-week highs. Asian markets are also exhibiting strong momentum this morning, driven by a rally in the U.S. markets.
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Jan 07, 2025, 3:25 pm IST
Tata Elxsi and National Aerospace Laboratories Sign Strategic Partnership for Advanced Air Mobility
Tata Elxsi, a global leader in design and technology services, and the CSIR-National Aerospace Laboratories (CSIR-NAL) have signed a Memorandum of Understanding (MoU) to establish a Strategic Partnership for Advanced Air Mobility. This collaboration is focused on driving innovation in emerging areas such as Unmanned Aerial Vehicles (UAVs), Urban Air Mobility (UAM), and electric vertical take-off and landing (eVTOL) aircraft. The partnership combines NAL’s deep aeronautical expertise and Tata Elxsi’s technological capabilities in electrification, AI/ML, sensor fusion, and certification processes to support global and Indian markets. The global market for UAVs and UAM is rapidly evolving, with applications spanning industries such as logistics, agriculture, defence and urban transportation. This partnership will accelerate product development cycles for these sectors by providing access to advanced testing infrastructure, methodologies, and expertise. Tata Elxsi and CSIR-NAL will jointly focus on technologies such as aerodynamic design, autonomous systems, and secure communications to address the unique needs of both manned and unmanned air mobility systems.
Jan 07, 2025, 3:12 pm IST
Penny Stock Rally To 5% Upper Circuit Limit On The Back of Expansion Plans And Strategic Growth
Ok Play India Ltd shares surged by 5% on Tuesday, to trade at a 5% upper circuit limit of Rs 16.68, which is an increase from Rs 15.89. In recent months, the stock price has increased by a whopping 56.2 per cent from its previous price of Rs 10.62. Over the past few years, the company has enjoyed returns as high as 888% over five years and 474% over three years.
Multiplex Giant PVR Inox Share Price Hit 44-Month Low Amid Footfall Concerns, Posts 29% Fall In 1 Mth
The shares of PVR Inox, India's largest multiplex chain operator, have tumbled to a 44-month low of Rs 1,154, a decline of 8% in Tuesday's intra-day trading on the Bombay Stock Exchange (BSE). The stock has now fallen 29% from its recent high of ₹1,620, achieved just a month ago on December 5, 2024. With this latest decline, PVR Inox has surpassed its previous low of Rs 1,203.70, touched in June 2024, and is now trading at its lowest level since May 2021.
“Nuvoco Vistas has emerged as the Successful Resolution Applicant (SRA) of Vadraj Cement under the Corporate Insolvency Resolution Process (CIRP). The consideration for the transaction is not known. However, assuming additional refurbishment capex, we estimate that the deal size at EV/tn is USD 65 on integrated capacity. The facility is likely to commence production around 3QFY27. The acquisition is likely to 1) increase cement capacity by 24% to 31mt to dispel concerns on volume growth over the medium term, and 2) provide regional diversification with share in West rising to 19% and exposure to the volatile East region reducing to 60% (vs. currently 74%). Payment for assets and additional capex will be gradual, funding of the assets will be the key monitorable to manage leverage positions (net debt at INR 45bn as of Sep’24),” said Dharmesh Shah of JM Financial Institutional Securities Ltd.
Jan 07, 2025, 1:43 pm IST
Sector Update: Consumer Retail | 3QFY25 Preview: Jewellery and store expansion to drive growth
“Overall aggregate revenue/ EBITDA growth in 3QFY25 for our consumer discretionary coverage universe is likely to be 19% (17% organic)/ 14% YoY. We expect the consumer discretionary segment to outperform the staples segment, which is expected to grow in mid-single digit YoY. Growth in the discretionary segment will be largely led by (i) Jewellery segment due to healthy festive and wedding season coupled with 3-4% correction in gold prices from highs and (ii) Avenue Supermarts, led by sharp recovery in revenue/sqft despite pressure from quick commerce. Growth in our QSR coverage will be expansion-led as SSSG/ADS recovery remains weak even on a low base. Footwear (ex- Bata) segment is expected to report double-digit growth. Shift in consumer preference towards the more-value segment is expect to impact demand for mid-premium fashion players. Value fashion players are expected to grow in high double digits led by (1) shift from unorganised to organised segment, (2) value fashion players upping their product proposition and (3) downtrading by consumers in a challenging demand environment. Margin across our retail coverage (ex-Footwear) is expected to remain under pressure largely on account of negative leverage due to poor SSSG/LTL recovery and drag on account of store additions. Metro Brands and Go Fashion remains preferred picks within our coverage,” commented Gaurav Jogani of JM Financial Institutional Securities Ltd.
Mehul Desai of JM Financial Institutional Securities said, “3QFY25 earnings performance for staples is expected to be lacklustre with festive season/weak base failing to bring any acceleration on the volume growth. Rural is seeing a gradual recovery, which along with moderation in urban consumption, grammage cuts (in foods) and delayed winters (for Skin care, healthcare segment) have impacted the volume growth. Some of this was partly known from cautious commentary of staples players post 2QFY25 results. Value growth is estimated to be higher than volumes growth as pricing has turned positive (due to price hikes & anniversarisation of price cuts), after decline for past 4 quarters. For 2HFY25, while sales growth (+ 7% yoy) for staples players is expected to be better, operating profit is likely to be weaker (low-single-digit yoy) vs 1HFY25 and vs our earlier estimates primarily on account of higher than anticipated gross margin compression. Hence for staples peers we have cut our earnings by 2-7% over FY25-27E, with higher cuts for foods players. Going ahead, how urban consumption and RM basket (some moderation seen in palm oil, stable crude prices) shapes up will be key. We expect staples coverage (ex-ITC) earnings to grow at 13% CAGR over FY25-27E. Valuations at c.50x NTM PE are closer to 10 year average. While some of the issues are transient in nature, it is difficult to gauge the time period it will last for. Given volatile environment, we stay selective – prefer Varun Beverages, Marico, ITC within our coverage universe.”
Jan 07, 2025, 12:38 pm IST
Nifty Outlook By Akshay Chinchalkar, Head of Research at Axis Securities
The Nifty's drop yesterday, which accelerated courtesy the HMPV cases detected in Karnataka, was the worst single-day fall since October 3. The drop has seriously weakened the entire recovery from the Dec 31st lows of 23460, so for the day, bulls have to protect 23500 if they are to have any chance of a rebound. Bears have the upper hand till 24060 remains intact, but more immediate resistance lies near 23800. On the other hand, a break below 23500 will again bring the focus back on the Nov lows near 23,260. Options analytics show that although demand for OTM puts rose more than that for similar-distance calls yesterday, it was not as high as the day prior, which means declines, if any, will likely be bought.
Jan 07, 2025, 12:26 pm IST
IndiaMART InterMESH | Favourable risk-reward; upgrade to BUY
Swapnil Potdukhe of JM Financial Institutional Securities said, “We upgrade INMART to BUY from SELL earlier following ~28% correction since our last published note. As expected, the stock has seen significant de-rating due to sharp deceleration in collections growth in 2QFY25 and muted paying supplier additions over the past 6 quarters. While we do not see material improvement in these key metrics in 3Q, from a medium-term perspective we see collections in the standalone business growing around low teens vs. 5% YoY in 2Q, supported by mid-single growth in both paying suppliers as well as realisation. Consol. EBITDA margin could also remain elevated (34-36%) in the absence of meaningful growth investments. Post the recent correction, the stock is trading at 28x NTM PER (ex-cash and other income), c.50% discount to own 5-year average of 56x. For a stock, with FCFF yield (including other income) of >6% on FY26 estimates, this should cap downside in our opinion. We raise margin forecasts and roll forward for a revised Mar’26 TP of INR 2,450 (TP implies FY26/27 ex-cash & other income PER of 30x/26x.”
Jan 07, 2025, 11:59 am IST
Paras Defence Soars 10% on DPIIT License for Light Machine Gun Production
Paras Defence and Space Technologies Ltd. announced that it has received a manufacturing license from the Department for Promotion of Industry & Internal Trade (DPIIT) for Light Machine Guns. Following the announcement, the company's shares surged by up to 10% in trading.
Jan 07, 2025, 11:38 am IST
Coal India Signs MoU with IREL for Critical Minerals Development
Coal India has signed a non-binding Memorandum of Understanding (MoU) with IREL (India), a public sector undertaking, to collaborate on the development of critical minerals. The partnership aims to focus on mining, extraction, and refining of assets such as mineral sands and rare earth elements (REE) through domestic or international asset acquisition and raw material sourcing.
Jan 07, 2025, 10:55 am IST
Zydus Secures Agreement with CVS Caremark
Zydus has announced a partnership with CVS Caremark, ensuring the inclusion of ZituvioTM, ZituvimetTM, and ZituvimetTM XR (Sitagliptin / Sitagliptin and Metformin Hydrochloride) in the CVS Caremark template formulary.
Jan 07, 2025, 10:16 am IST
Indo Farm Equipment Lists at 19% Premium
Indo Farm Equipment shares had a robust debut on the stock market, listing at a 19% premium to their issue price on January 7. This follows an overwhelming subscription of 227.57 times on the IPO’s final bidding day, January 2, for its Rs 260.15-crore offering.
Jan 07, 2025, 9:53 am IST
Kalyan Jewellers Q3 Financial Updates
Kalyan jewelers reported a consolidated revenue growth of approximately 39% QoQ. r India operations witnessed revenue growth of approximately 41% during Q3 FY2025 as compared to Q3 FY2024, led by very strong festive and wedding demand across both gold and studded categories. The quarter recorded healthy same-store-sales-growth of approximately 24%. The company launched 24 Kalyan showrooms in India during the recently concluded quarter, with a strong pipeline of showrooms set to open over the course of the current quarter.
In the Middle East, we witnessed revenue growth of approximately 22% when compared to
the same period in the previous financial year. Middle East contributed 11% to our
consolidated revenue for the recently concluded quarter.
Jan 07, 2025, 9:41 am IST
Sentynl Therapeutics Announces U.S. FDA Acceptance and Priority Review of New Drug Application for CUTX-101
Sentynl Therapeutics, Inc. (“Sentynl”), a U.S.-based biopharmaceutical company wholly-owned by Zydus Lifesciences, Ltd. (“Zydus Group”), and Fortress Biotech, Inc. (Nasdaq: FBIO) (“Fortress”) announced that the U.S. Food and Drug Administration (FDA) has accepted for filing and Priority review Sentynl’s New Drug Application (NDA) for CUTX-101, the product candidate for the treatment of Menkes disease. Menkes disease is a rare X-linked recessive pediatric disease caused by gene mutations of the copper transporter ATP7A. Recent estimates suggest a prevalence of 1 in 34,810 to as high as 1 in 8,664 live male births. Sentynl’s NDA is supported by positive topline clinical efficacy results for CUTX-101, demonstrating statistically significant improvement in overall survival for Menkes disease subjects who received early treatment with CUTX-101, with a nearly 80% reduction in the risk of death compared to an untreated historical control cohort. Median overall survival was 177.1 months for CUTX-101 early treatment cohort compared to 16.1 months for the untreated historical control cohort.
Jan 07, 2025, 9:30 am IST
Stock Market Live Updates: Sensex and Nifty Today
At the opening bell, the Sensex rose to 78,346.43, gaining 381.44 points (0.49%), while the Nifty was up at 23,730.35, increasing by 114.30 points (0.48%).
Jan 07, 2025, 9:14 am IST
Stock Market Live Updates: Rupee vs Dollar
The rupee opened at 85.74 per dollar on Tuesday, slightly appreciating from the previous close of 85.82.
Jan 07, 2025, 8:55 am IST
Stock Market Live Updates: Asian Markets Post Gains
Markets in the Asia-Pacific region have posted strong gains this morning, driven by a rally in U.S. markets on Tuesday, particularly in the tech sector. Despite the overall positive sentiment, some indices showed mixed performance.
Hong Kong’s Hang Seng Index was down by 1.17%, while the Shanghai Composite marginally down by 0.34%.
Japan’s Nikkei gained 2.44% after the previous day’s decline. South Korea’s Kospi advanced by 0.66% . In Australia, the S&P/ASX 200 rose by 0.17%, while the Topix index gained 1.12%.
Jan 07, 2025, 8:40 am IST
Stock Market Live Updates: US Markets Updates
Wall Street exhibited positivity on Monday, with both the S&P 500 and the Nasdaq Composite recording solid gains, while the Dow Jones Industrial Average (DJIA) traded in negative territory.
At the close, the Dow Jones Industrial Average fell 25.57 points, or 0.06%, to 42,706.56. Meanwhile, the S&P 500 gained 32.91 points, or 0.55%, to 5,975.38, and the Nasdaq Composite rose by 243.30 points, or 1.24%, to close at 19,864.98. The rally in the S&P 500 and Nasdaq was driven by gains in technology and consumer discretionary stocks.
Jan 07, 2025, 8:34 am IST
Stock Market Live Updates: Markets at the Previous Close
On Monday, the stock markets experienced a significant crash, with both benchmark indices erasing earlier gains. The sharp decline was primarily driven by a surge in selling activity from Foreign Institutional Investors (FIIs) and widespread panic triggered by news of the outbreak of the Human Metapneumovirus (HMPV). This unexpected development rattled investor sentiment, leading to heightened volatility across sectors.
At the close of trading, the Sensex had plummeted by 1,258.12 points, or 1.59%, settling at 77,964.99. Meanwhile, the Nifty fell by 388.70 points, or 1.62%, to end the session at 23,616.05.
Jan 07, 2025, 8:29 am IST
Stock Market Live Updates Welcome to the Stock Market Live Blog
Good morning, and welcome right here in our live blog! As Sensex and Nifty set the pace today, we’re here to guide you through every market move. Stay with us for real-time updates, insights from the equity market
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