Stock Market Live Updates: Nifty Ends Flat, Sensex Added 178 Pts; IT Sector Shines

On Friday's closing session, benchmark indices ended with minor gains and ended the week on a mixed note. Nifty ended 52.20 points or (0.24%) higher at the 21,710.80 level while Sensex added 178.58 points or (0.25%) to settle at 72,026.15. On the sectoral front, IT sector outperformed with a 1.30% surge followed by the auto, realty and oil & gas sectors. The top 5 gainers were Adani Ports and Special Economic Zone, Larsen and Toubro, TCS, SBI Life Insurance Company and LTIMindtree whereas the top 5 losers were Britannia Industries, Nestle India, JSW Steel, Kotak Mahindra Bank and Divi's Laboratories.

Shares of large cap Tata Group stock, Tata Power Co. Ltd hit 52-week high to 343.45 per share with intraday surge of 1.70%.

Shares of Alok Industries Ltd gained 14% intraday and surged 46% in last 1-week after Reliance Industries Ltd (RIL) subscribed to non-convertible redeemable preferential shares worth Rs 3,300 crore.

Key gainers on the Nifty included NTPC, Bajaj Auto, Bharti Airtel, Hero MotoCorp, and LTIMindtree. Conversely, notable losers comprised Axis Bank, IndusInd Bank, Asian Paints, and Britannia.

The first week of 2024 has been a rollercoaster ride for the Nifty 50, with market volatility and weak global cues preventing the index from reaching the elusive 22,000 mark. Despite Thursday's recovery, the Nifty faces the possibility of ending the week lower, marking only the second weekly loss since October last year.

Thursday provided a breath of relief as the Nifty managed to recover from a 200-plus point fall over the last two sessions. The index crossed 21,600, sustained its position, and closed near the day's highest point. Meanwhile, the Nifty Bank witnessed buying from lower levels, outperforming the Nifty and closing above the 48,000 mark, breaking a four-day losing streak.

For the Nifty Bank to secure a weekly gain, it needs to close above 48,292 by the end of the week.

Stocks on the Radar Ahead of Friday's Trading:

Grasim: Initiates a Rs 4,000 crore rights issue, set to issue 2.2 crore shares. The rights issue opens on January 17 and closes on January 29.
Dabur: Witnesses sequential demand improvement, expecting mid-to-high-single-digit revenue growth. International business eyes double-digit growth in constant currency terms.
Sobha: Celebrates the best-ever sales quarter in Q3 with a total sales value of Rs 1,951.6 crore. Launches two new projects, achieving further net debt reduction.
RBL Bank: Records a 13% YoY surge in total deposits to Rs 92,743 crore. Advances show a robust 20% YoY growth, reaching Rs 81,870 crore.
L&T Finance Holdings: Retail disbursements surge 25% YoY to Rs 14,500 crore. Retail loan book estimates at Rs 74,750 crore, marking a 31% YoY increase.
J&K Bank: Witnesses a 14.1% YoY rise in gross advances to Rs 93,626 crore. CASA Ratio stands at 50.59%, down from 53.29% last year.
Utkarsh Small Finance Bank: Reports a 30.8% YoY increase in the Gross Loan Portfolio, reaching Rs 16,408 crore. Collection efficiency for the quarter stands strong at 96.3%.
Jupiter Wagons: Secures a contract worth Rs 473 crore for manufacturing 697 Boggie Open Military Wagons.
Lupin: Receives tentative USFDA approval for diabetes tablets with estimated sales of $5 million.
UltraTech Cement: Issues a corporate guarantee worth $147 million for its UAE subsidiary.
Shakti Pumps: Secures a Government of India patent for the Solar Flour Mill.
Bharat Electronics: To consider dividend along with Q3 results on January 29, 2024.

Global indices in the Asia-Pacific region struggled in the final trading day of the week, with the Nikkei 225 remaining flat, and the Topix showing a modest 0.3% uptick. South Korean indices, Kospi and Kosdaq, stagnated, while Hang Seng's futures pointed towards a negative start.

Overnight, the Nasdaq experienced its longest losing streak since October 2022, falling for the fifth consecutive day. The S&P 500 followed suit, declining by 0.3% for the fourth day in a row. GIFT Nifty indicated a muted start for the Indian market, trading with cuts of 15 points against Nifty Futures Thursday close.

As the market navigates through these global challenges and individual stock movements, investors remain on high alert, anxiously awaiting the Nifty's performance by the end of the week.

LIVE Feed

Jan 05, 2024, 3:10 pm IST

Edelweiss Financial Services Announces Rs 2,500 Million Public Issue of NCDs

Today, Edelweiss Financial Services Limited announced the public offering of Secured Redeemable Non-Convertible Debentures (NCDs) having a face value of Rs 1,000 each for a maximum of Rs 1,250 million, plus an additional Rs 1,250 million through a green shoe option, for a total maximum value of up to Rs 2,500 million. Ten NCD series with fixed coupons and terms of 24 months, 36 months, 60 months, and 120 months each are available, with options for yearly, monthly, and cumulative interest. The range of the effective yearly yield for NCDs is 8.94% to 10.46%. Opening on January 09, 2024, and closing on January 22, 2024 are the dates for the issue.

Jan 05, 2024, 2:53 pm IST

Trent Receives Rs 1 Lakh Penalty Under GST From Chhattisgarh Govt

The Joint Commissioner of Rajasthan and the Assistant Commissioner of State Tax of Chhattisgarh have issued orders to the company, levying penalties of Rs. 39,596 and Rs. 60,719, respectively, under the Goods and Services Tax Act of 2017. Penalty of Rs. 39,596/-for allegedly mismatching input tax credit availed for the 2017–18 fiscal year under the relevant sections of the Integrated Goods and Service Tax Act 2017 and the State Goods and Service Tax Act 2017. Penalty totalling Rs. 60,719/-are imposed for allegedly incorrect transitional input tax credits claimed for the 2017–18 fiscal year under the relevant sections of the Central, State, and Integrated Goods and Service Tax Acts of 2017. Trent said it is reviewing these orders and will take appropriate action in that regard.

Jan 05, 2024, 2:34 pm IST

Vitol And GAIL Signs Long-Term Deal To Supply 1 Million MT of LNG Into India

A long-term LNG agreement for the supply of nearly one million metric tonnes of LNG annually into India for a period of roughly ten years, commencing in 2026, has been signed today by GAIL (India) Limited and Vital Asia Pte Ltd. As part of this agreement, Vital would provide GAIL with LNG across the country of India from its worldwide LNG portfolio.

Jan 05, 2024, 2:22 pm IST

Power Grid Corporation of India Shares In Green On Emerging As Successful Bidder Under TBCB

The Tariff Based Competitive Bidding process for the establishment of the Inter-State Transmission System for the "Transmission Scheme for Solar Energy Zone in Bidar (2500 MW), Karnataka" on a Build, Own, Operate and Transfer (BOOT) basis has selected Power Grid Corporation of India Limited as the successful bidder. Power Grid Corporation of India Limited achieved the Letter of Intent (LoI) on January 5, 2024. The project's scope includes building a new 765/400/220 kV substation in Bidar, extending the 765 kV D/C Transmission Line, and extending related bays at other substations that are currently in operation in the states of Telangana and Karnataka. Post the announcement, the shares of Power Grid were trading higher at Rs 241.65 apiece during the afternoon deals.

Jan 05, 2024, 12:22 pm IST

Alok Industries Gains 14% Intraday, Soars 46% In last 1-Week

Shares of Alok Industries Ltd gained 14% intraday and surged 46% in last 1-week after Reliance Industries Ltd (RIL) subscribed to non-convertible redeemable preferential shares worth Rs 3,300 crore. The preferential shares were issued at a dividend rate of 9% on a private placement basis to RIL. Additionally, preferential shares will also be redeemable at par any time, within a period not more than 20 years from the date of allotment.

Jan 05, 2024, 12:00 pm IST

Gold Rates In India Today Slips For Third Consecutive Day, Rupee Gains Against Rivals

The yellow metal rates in India today for 10 grams of 24-carat is Rs. 63,270/-, which is almost Rs. 1,000/- below all-time high range and stares for a further climb as international gold stays stable above the psychological levels of $ 2,000/- range. US Dollar Losses by 0.1% against rupee, trading at Rs. 83.17/-, while Euro losses by 0.32% at Rs. 90.91/- and GBP at Rs. 105.37/-, falling 0.38%.

Jan 05, 2024, 11:49 am IST

EFSL Issues NCDs Totalling up to Rs. 2,500 million

Edelweiss Financial Services Limited (“EFSL”/ “Company”), today announced the public issue of Secured Redeemable Non-Convertible Debentures (“NCDs”) of the face value of ₹ 1,000 each for an amount up to ₹ 1,250 million with a green shoe option of up to ₹ 1,250 million, cumulatively aggregating up to ₹ 2,500 million. There are ten series of NCDs carrying fixed coupons and having a tenure of 24 months, 36 months, 60 months, and 120 months with annual, monthly, and cumulative interest options. Effective annual yield for NCDs ranges from 8.94% p.a. to 10.46% p.a. The Issue is scheduled to open on January 09, 2024, and close on January 22, 2024.

Jan 05, 2024, 11:36 am IST

D-Mart Makes Changes In Management

Avenue Supermarts Ltd. notifies the appointment of Mr. Biswabrata Chakravorty as Group Chief Digital & Information Officer with effect from 5th January 2024 and Mr. Vikram Bhatia, Sr. Vice President - Information Technology shall cease to be considered as Senior Management Personnel of the Company. Mr. Biswabrata Chakravorty, an IIM alumina is a seasoned technology leader with over two decades of cross-functional experience in domestic life/ health insurance and retail/corporate banking. he worked with companies like IndusInd Bank as Chief Information Officer & Head IT, Cigna TTK Health Insurance as Chief Information OfficerHead PMO & BCM, Reliance Life Insurance as Chief Technology Officer, and other corporates like Barclays, Bank of America, ICICI Prudential Life Insurance, etc.

Jan 05, 2024, 11:19 am IST

Suzlon Energy Receives Orders From Everrenew Energy

Everrenew Energy Private Limited orders 225 MW for their 3 MW from Suzlon Energy Ltd to supply 75 wind turbines with a rated capacity of 3 MW each. Project at the client’s sites at Vengaimandalam, Trichy district, and Ottapidaram, Tuticorin district, Tamil Nadu with a total installed capacity of 225 MW. Electricity generated from the project is to be used for captive consumption and to power C&I customers, which can provide electricity to ~1.85 lakh households and curb ~7.31 lakh tonnes of CO2 emissions per year. Girish Tanti, Vice Chairman, Suzlon Group said, "As India’s renewable energy ambition sets benchmarks across the world, we are honored to partner with companies across the value chain to further their renewable energy goals. India has one of the most conducive policy environments and a thriving ecosystem from R&D and manufacturing to operations and maintenance services. Combined with one of the lowest costs of energy in the world, these factors make Indian renewables stand out in the global market. This project with Everrenew Energy serves the promising C&I segment of the Indian market, which will be important in driving our national targets over time.”

Jan 05, 2024, 10:55 am IST

Exchanges Ask JFS & Blackrock for SEBI Fillings, KPI Green Energy Bags Order From Jayco Synthetics

The Exchange has sought clarification from Jio Financial Services Limited concerning a recent news item captioned Jio Financial, BlackRock file papers with SEBI for MF business. The response from the Company is awaited. KPIG Energia Private Limited, a wholly-owned subsidiary of the Company shall develop the projects scheduled to be completed in the financial year 2024-25, aggregate order size of 3 MW for executing solar power projects under the CPP Segment.

Jan 05, 2024, 10:38 am IST

Mold-Tek Packaging To Inaugrate Its Pharama Division, RCF Notifies Change in Management

The Pharma Division at the Company’s existing unit situated at Sultanpur, Telangana, India, will be inaugurated on Saturday, January 6th, 2024. Rashtriya Chemicals and Fertilizers Limited informs exchanges about exchanges about Change in Directors/ Key Managerial Personnel/ Auditor/ Compliance Officer/ Share Transfer Agent. GTPL Hathaway intimates investors and analysts to discuss the financial results for the quarter and nine months ended December 31, 2023.

Jan 05, 2024, 10:12 am IST

HDFC Banks Releases Their December Quarter Earnings With Exchanges

The Bank’s gross advances aggregated to approximately ₹ 24,695 billion as of December 31, 2023, a growth of around 62.4% over ₹ 15,205 billion as of December 31, 2022, and a growth of around 4.9% over ₹ 23,546 billion as of September 30, 2023. Grossing up for transfers through inter-bank participation certificates and bills rediscounted, the Bank’s advances grew by around 60.7% over December 31, 2022, and around 3.8% over September 30, 2023. Retail deposits increased by around ₹ 530 billion during the quarter, and grew by around 28.4% over December 31, 2022, and around 2.9% over September 30, 2023; wholesale deposits grew by around 24.4% over December 31, 2022, and were lower by around 3.4% over September 30, 2023.

Jan 05, 2024, 9:52 am IST

Coffee Day Enterprises reports defaults payment of Rs 433.9 crore

Coffee Day Enterprises has disclosed a failure to fulfill payment obligations, amounting to Rs 433.9 crore. The defaults pertain to interest payments and repayment of the principal amount on loans sourced from banks, financial institutions, and unlisted debt securities. This information is based on the financial report for the quarter concluding in December 2023.

Jan 05, 2024, 9:42 am IST

Grasim Board Give Approval For Rights Issue Worth Rs 4,000 Crore

Grasim Industries has garnered the green light from its Board of Directors for a rights issue amounting to Rs 3,999.80 crore. The issue price has been established at Rs 1,812 per share. Scheduled to unfold between January 17 and January 29, 2024, the record date for this issue is fixed at January 10. Eligible equity shareholders will be entitled to 6 rights equity shares for every 179 fully paid-up equity shares held in the company.

Jan 05, 2024, 9:22 am IST

Market Opens With Gains, Nifty Above 21,700

On January 5, Indian indices kicked off the trading day positively, with the Nifty surpassing the 21,700 mark. The Sensex exhibited a gain of 287.54 points or 0.40%, reaching 72,135.11, while the Nifty recorded a surge of 86.90 points or 0.40%, settling at 21,745.50. Among the listed stocks, 2036 witnessed an advance, 368 experienced a decline, and 95 remained unchanged.

Jan 05, 2024, 9:15 am IST

Morning Market Outlook

Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, "An important feature of the ongoing rally in the market is that retail investors, not institutions, are calling the shots. This retail exuberance is getting reflected in the records being set by the Mid and Smallcap indices even at frothy valuations in these segments. The excessive valuations of the broader market cannot continue for long. Big corrections are likely in the broader market; the only question is when. The risk to the global rally can come from the Fed which may turn out to be less dovish than the market expectation. Latest data from the US indicate an economy which is not weakening as much as the Fed would like. So watch out for the Fedspeak. The Q3 results will impact stock prices. IT stocks have corrected anticipating poor numbers. The result to watch would be that of HDFC Bank which has the potential to move the Bank index."

Jan 05, 2024, 9:00 am IST

Asian Market Opens Mixed, Bonds Dip

Asia experienced a blend of outcomes on Friday as stocks and bonds dipped, influenced by diminished expectations for interest rate cuts following robust signals from the US labor market. In Japan, shares saw an uptick, supported by yen depreciation, while Australia and South Korea witnessed fluctuating market trends. Meanwhile, futures for Hong Kong benchmarks slid, but counterparts for US stocks showed slight gains in the Asian trading session, reflecting the impact of selling pressure on US stocks and bonds.

Jan 05, 2024, 8:27 am IST

Crude Prices To Show Modest Gains Amid Declining US Demand

Oil is poised for a modest weekly increase despite remaining stable on Friday, with the market evaluating indications of declining US demand in contrast to heightened tensions in the Middle East and North Africa. West Texas Intermediate hovered above per barrel following a 0.7% dip on Thursday, during which Brent crude concluded below . Official data revealed a substantial surge in American gasoline inventories, the largest in three decades, coupled with a decline in implied demand to its lowest point in a year. Additionally, crude stockpiles at the Cushing, Oklahoma hub reached their highest levels since, although overall supplies experienced a reduction.