BSE Sensex gained 211 points to 81,414 and Nifty zoomed marginally by 11 points to 24,866 in afternoon trade on October 21, 2024. Nifty Bank narrowed its decline to 31 points to 52,067 and Nifty Midcap slipped 460 points to 58,189 on Monday. PNC Infratech shares today hit 20% lower circuit. Tata Chemicals gained 9.73% in trade today to 1193.85 per share.
Earlier today, stock market experienced significant volatility, with both Sensex and Nifty 50 showing slight declines after a positive start on Monday morning.
As of 11:50 AM, the Sensex stood at 81,052, down by 172 points (0.21%), while Nifty slipped by 104 points to 24,750. Sector-wise, the Nifty Metal index led the declines with a 1.32% drop, followed by weakness in banking, IT, pharma, FMCG, and metal stocks.
On the Nifty index, top gainers included HDFC Bank, Tech Mahindra, Wipro. Meanwhile, Bharti Airtel, BPCL, IndusInd Bank, and were among the top losers.
Boosted by positive global trends, the Indian markets opened on a strong note on October 21, with the Nifty hovering around 24,950. The Sensex surged by 448.79 points or 0.55%, reaching 81,673.54, while the Nifty gained 103.90 points or 0.42%, standing at 24,957.90.
In early trade, 1,728 shares advanced, 807 declined, and 167 remained unchanged. Key gainers on the Nifty included Tech Mahindra, HDFC Bank, Tata Steel, Hindalco, and HDFC Life, while Tata Consumer, Kotak Mahindra Bank, Bharti Airtel, Britannia, and HUL were among the early losers.
In the upcoming week, investors will look for direction from a slew of corporate earnings reports. Notable companies such as HDFC Bank, Kotak Mahindra Bank, and Tech Mahindra, which posted results over the weekend, will remain in focus. Additionally, Nifty 50 heavyweights like UltraTech Cement, Hindustan Unilever, Bajaj Finance, ICICI Bank, and several others are set to announce their earnings.
On the economic front, key high-frequency data, including the HSBC Composite PMI, Manufacturing PMI, and Services PMI, are anticipated to provide further insights into the state of the economy.
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Oct 21, 2024, 3:26 pm IST
HDFC Bank Dips After Q2
India’s largest banking stock, HDFC Bank jumped 3% on BSE, after the lender posted steady performance in Q2 with PAT growth of 5.3% year-on-year (YoY). HDFC Bank earnings were upbeat.
Oct 21, 2024, 3:15 pm IST
Tata Consumer Falls 9% After Q2
Tata Group-backed FMCG stock, Tata Consumer Products witnessed sharp selling pressure after Q2 results. The stock fell by as much as 9% on Monday, October 21. Tata Consumer is a top bear of Nifty.
Oct 21, 2024, 2:38 pm IST
Tata Stock Witnesses Sharp Rally
Tata Chemicals, a smallcap stock from the Tata Group, saw a sharp rally in trade today, October 21, surging over 14% at its peak to reach Rs 1,244.70 per share on the Bombay Stock Exchange (BSE). The bullish movement in Tata Chemicals' stock follows a crucial decision by the Reserve Bank of India (RBI), which rejected Tata Sons' appeal for an exemption from the mandatory listing of its shares.
Oct 21, 2024, 2:05 pm IST
PNC Infratech Hits 20% Lower Circuit
Mid cap company engaged in civil construction industry, PNC Infratech Ltd shares suffered sharp blow today after Ministry of Road Transport & Highways (MoRTH) barred the company and its 2 subsidiaries on October 19, 2024 from participating in any tender process of the Ministry for a period of 1 year beginning from October 18, 2024. Current market price of PNC Infratech shares is Rs 366.70 per share. PNC Infratech shares witnessed steep decline of 18.71% in last 1-week and 27% fall in last 3-months. The company’s market capitalisation stood at Rs 9,407.29 crore.
Oct 21, 2024, 1:28 pm IST
RBL Bank Shares Fall 14%, Hit 52-Week Low
Shares of RBL Bank slumped 14 per cent on Monday morning after the firm posted a 24 per cent decline in net profit in the September quarter to Rs 223 crore on asset quality challenges emanating from credit card and microlending books. The company's stock plunged 14 per cent to hit a 52-week low of Rs 176.50 apiece on both the BSE and NSE. RBL Bank announced the September quarter earnings on Saturday. The private sector lender had reported a post-tax net profit of Rs 294 crore in the year-ago period, and Rs 372 crore in the preceding June quarter.
RBL Bank Chief Executive Officer and Managing Director R Subramaniakumar told reporters that the stress in the microfinance book is due to industry-wide issues, but the same on the credit-card front, where the regulator has been flagging risks for the industry, is on account of internal aspects, according to a PTI report.
Oct 21, 2024, 12:44 pm IST
Deepak Builders & Engineers IPO: Public Issue Fully Subscribed On Day 1, GMP Hints Strong Listing
Deepak Builders and Engineers India Limited, a Punjab-based firm, opened its subscription for IPO on October 21, 2024. This initial public offering (IPO) aims to attract significant investment and raise capital for the company's future projects. The IPO follows a successful anchor book round, where Deepak Builders secured Rs 78.01 crore from five institutional investors on October 18.
Among the institutional investors, Neomile Growth Fund emerged as the largest stakeholder, acquiring 14.77 lakh shares worth Rs 30 crore. Citadel Capital Fund followed closely, purchasing 9.85 lakh shares for Rs 20 crore. Other investors included Saint Capital Fund, Zeal Global Opportunities Fund, and Elite Capital Fund, collectively investing Rs 28 crore for 13.8 lakh shares.
Oct 21, 2024, 12:43 pm IST
Adar Poonawalla Acquires 50% Stake In Karan Johar's Dharma Productions For Rs 1,000 Crore
Adar Poonawalla-led Serene Productions has announced the acquisition of a 50% stake in Karan Johar's renowned Dharma Productions and its sister company, Dharmatic Entertainment, for Rs 1,000 crore. This alliance was revealed in a press release.
Under this new partnership, Karan Johar will retain his position as Executive Chairman of Dharma Productions, ensuring that the creative vision that has made Dharma a household name remains intact. Apoorva Mehta will continue to lead as Chief Executive Officer.
Oct 21, 2024, 12:30 pm IST
Gold Prices Continue To Glitter In India, Oct 21: 24k/100 Grams Yellow Metal Gains 2200
Gold prices in India continue to rise as prices jumped for 5th consecutive day today amid continuous uncertainties prevailing around US elections and rising Middle East tensions. Meanwhile, rate cuts by leading central banks also pushed gold prices higher. Meanwhile, silver prices in India too have been rising for the last 10 days except October 15 when prices declined marginally by Rs 100 for 1kg silver. Also, silver prices in India today crossed 1 lakh mark.
22k gold prices today surged by Rs 200 to Rs 73,000/10 grams and 100 grams of gold price in India today rose by Rs 2000 to Rs 7,30,000. 24K gold prices today soared by Rs 220 to Rs 79,640/10 grams and 100 grams of precious metal prices today zoomed by Rs 2200 to Rs 7,96,400.
Oct 21, 2024, 11:59 am IST
Airtel To Offer Seamless 5G Connectivity Across Line-3 Of Mumbai Metro, Connecting BKC To Aarey
Bharti Airtel announced that it is the first telecom service provider to offer uninterrupted 5G connectivity across the ten new stations of the newly inaugurated Mumbai Metro Line-3, also known as the Aqua Line. This underground infrastructure is a groundbreaking step to connect the financial capital from the Bandra Kurla Complex (BKC) to Aarey, spanning the crucial Jogeshwari-Vikhroli Link Road (JVLR) section. Aditya Kankaria, CEO- Mumbai, Bharti Airtel said. “By strategically investing in upgrading and fortifying our network infrastructure along the Aqua Line, we have demonstrated our unwavering commitment to providing customers with seamless, high-speed mobile connectivity as they navigate the city's public transit system. This commitment is further underscored by our eagerness to support Mumbai's first-ever underground metro line, ensuring that customers can enjoy reliable, blazing-fast internet connectivity as an integral part of their daily commute. As Mumbai embraces this new era of efficient, technologically advanced public transportation, Airtel stands ready to elevate the commuting experience with high-speed 5G connectivity.
Oct 21, 2024, 11:33 am IST
MIIL Group Achieves ISO Certification
Meghna Infracon Infrastructure Limited, emerging name in real-estate announced that it has received ISO 9001:2015 and 1SO 14001:2015 certification, demonstrating MIIL’s commitment on becoming the preferred luxurious real estate developers in Mumbai. 1SO 9001 is an internationally recognized standard for quality management. It provides a framework for organizations to ensure they meet customer and regulatory requirements and demonstrate continuous improvement. Achieving this certification signifies that MIIL has implemented robust quality management principles, including a strong customer focus, involvement of high-level company management, a process approach, and ongoing improvement.
Oct 21, 2024, 11:09 am IST
Gold Rates In India On 21st October
Yellow metal prices in India today for 10 grams of 24-carat are Rs. 79,640/- and Rs. 73,000/- for 10 grams of 22-carat yellow metal. India gold prices today have risen again after a steady price yesterday by Rs. 200 /- and Rs. 220/- per 10 grams for pure gold and standard gold respectively.
MRO-TEK Realty expands its land holdings in Candolim, North Goa.
MRO-TEK Realty has successfully procured a parcel of land at Candolim, North Goa, a highly sought-after location being in the heart of the popular tourist spots, marking a significant step in the company's strategic expansion into the Real Estate sector. The Company is now in the process of proceeding plan approval from the relevant authorities, aiming to develop a project that embodies excellence and innovation and growth in business.
Oct 21, 2024, 10:45 am IST
IPOs For Today: Waaree Energies & Afcons Infrastructure To Open For Subscription; Check Latest GMP
The primary market is buzzing with excitement as four major public offerings are set to open next week. Leading the charge are Waaree Energies and Afcons Infrastructure, two highly anticipated IPOs from the mainboard segment, which are expected to attract significant investor attention. Both IPOs have already made headlines, particularly due to their strong showing in the grey market. Waaree Energies is all set to open its IPO for subscription on October 21, 2024. The company has fixed a price band of Rs 1,427 to Rs 1,503 per share. This book-built issue is aimed at raising a total of Rs 4,321.44 crore, with a substantial portion of Rs 3,600 crore coming from the issuance of fresh shares.
University of Technology Sydney Partners With Veranda HigherEd To Launch Cutting-Edge Courses For Working Professionals In India
Veranda HigherEd, a Veranda Learning enterprise, has announced the launch of two cutting-edge short courses in partnership with the University of Technology Sydney (UTS) based in Australia. The offerings include courses in Digital and Social Media Marketing and Business Analytics, designed to equip professionals with the skills needed to thrive in today’s dynamic business environment. The Digital and Social Media Marketing course explores digital tools, channels, and opportunities shaping the marketing landscape. Students will learn to deploy these tools strategically at each stage of the customer journey, navigate changes in digital technologies, and leverage social media platforms to enrich the customer experience. The Business Analytics course introduces students to essential techniques for tackling practical problems, enabling them to initiate and manage small-scale projects and communicate findings effectively. Participants will learn how data collection and analysis enhance customer and stakeholder insights, and practice methods to improve data-driven predictions to achieve business success.
Oct 21, 2024, 9:58 am IST
Gensol Engineering & Matrix Gas & Renewables Consortium Bags Green Steel Project
Gensol Engineering has joined forces with Matrix Gas & Renewables to establish India's first and largest Green Steel production facility. This innovative facility will operate entirely on 100% Green Hydrogen, representing a major advancement in sustainable steel manufacturing. It is one of three pilot projects approved under the National Green Hydrogen Mission by MECON, in collaboration with the Ministry of Steel (MoS) and the Ministry of New and Renewable Energy (MNRE).
Oct 21, 2024, 9:44 am IST
Garden Reach Secures Rs 491 Crore Contract from Defence Ministry
Garden Reach has received letters of intent for a contract valued at Rs 491 crore from the Ministry of Defence. This contract encompasses the design, development, construction, integration of equipment, testing, certification, commissioning, and supply of an Acoustic Research Ship (ARS).
Oct 21, 2024, 9:23 am IST
Sensex and Nifty Start Strong Amid Positive Global Cues
Boosted by positive global trends, the Indian markets opened on a strong note on October 21, with the Nifty hovering around 24,950. The Sensex surged by 448.79 points or 0.55%, reaching 81,673.54, while the Nifty gained 103.90 points or 0.42%, standing at 24,957.90.
Oct 21, 2024, 9:07 am IST
Rupee Opens Steady at 84.06 Against US Dollar
The Indian Rupee opened steady at 84.06 per US Dollar on Monday, remaining nearly unchanged from Friday's close of 84.07.
Oct 21, 2024, 8:58 am IST
Oberoi Realty Secures Rs 1,348 Crore in Gross Bookings at Thane Project Launch
Oberoi Realty launched its highly anticipated integrated development, Oberoi Garden City Thane, at Pokhran Road No. 2 on Friday, 18th October 2024, achieving impressive results. In just the first three days, the company recorded a gross booking value of approximately Rs 1,348 crores for 5.65 lakh sq. ft. of carpet area.
Oct 21, 2024, 8:23 am IST
Oil Prices Stabilize After Sharp 7% Weekly Decline
Oil prices held steady in early Monday trading following a steep 7% drop last week driven by concerns over China's demand and reduced fears of Middle East supply disruptions. Brent crude futures edged up by 8 cents or 0.11% to .14 per barrel, while US West Texas Intermediate (WTI) rose by 10 cents or 0.14% to .32 per barrel. Last week, Brent fell by over 7%, and WTI dropped around 8%.
Oct 21, 2024, 8:23 am IST
GIFT Nifty Signals a Positive Opening for Indian Markets
GIFT Nifty trends suggest a positive start for the broader Indian market, showing a 39-point or 0.16% gain. Nifty futures were trading around the 24,930 level, indicating optimism as the markets open.
Oct 21, 2024, 8:22 am IST
Dow and S&P Hit Fresh Record Highs, Powered by Netflix Earnings and Tech Gains
The Dow Jones Industrial Average and S&P 500 soared to new record closing highs on Friday, with the Nasdaq also ending in positive territory. This rally was driven by a surge in Netflix shares, which buoyed broader gains in technology stocks.
All three major Wall Street indices secured their sixth consecutive weekly gains, marking their longest winning streaks since late 2023. Over the week, the S&P 500 rose by 0.9%, the Nasdaq Composite advanced by 0.8%, and the Dow Jones Industrial Average climbed 1%.
On Friday, the S&P 500 gained 23.20 points (0.40%) to close at 5,864.67, while the Nasdaq Composite added 115.94 points (0.63%) to reach 18,489.55. The Dow also saw modest growth, rising 36.86 points (0.09%) to end at 43,275.91.
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