BSE Sensex ended the day with the gain of 591 points to 81,973 and Nifty zoomed 163 points to 25,127 in late afternoon trade on October 14, 2024. Nifty Bank rose 644 points to 51,816 and Nifty Midcap rose 252 points to 59,465 in late afternoon trade on Monday. Meanwhile, shares of shares of Premier Energies rallied over 10% today after its subsidiaries bagged order worth Rs 765 crore today. Shares of IT and bank sectors witnessed rally today.
Earlier, the stock market today is on a strong uptrend, Sensex is currently up by 481.46 points or 0.59% at 81,862.82, while the Nifty 50 has gained 128.20 points or 0.51% to reach 25,092. Currently, the sectoral index is led by Nifty Bank, which has gained 1.09%. On the other hand, Nifty Pharma is down 0.26%, and Nifty Media has declined by 1%. Meanwhile, the Auto, IT, Metal, and Realty sectors have all seen a 1% increase. The top gainers are Wipro, Hero Moto Corp, and L&T, while Maruti Suzuki, Ultratech Cement, and Bajaj Finance are experiencing losses.
Indian stock market opened higher on Monday, October 14, Sensex hitting an intraday high of 81,893.86, and Nifty touching an high of 25,120.65. Bank Nifty jumped by 452 points, at the time of writing. Stocks like BPCL, Shriram Finance, L&T, JSW Steel and Wipro are top gainers.
Major Q2FY25 earnings like of Reliance Industries and HCL Technologies will be in focus. Also, investors will await India's CPI data that is scheduled later in the day.
This week, the IPO market will have its largest public offer. Hyundai IPO is the mother of all IPO in India, which is all set to open next week on both BSE and NSE's primary market for bidding from October 15. The price band has been fixed.
Last week, Sensex dipped by 601.73 points or 0.73%, while its current price is at 81,381.36. Additionally, Nifty 50 dipped by 115.40 points or 0.46%, with current price level at 24,964.25.
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Oct 14, 2024, 3:20 pm IST
Premier Energies Shares Up 7%
Leading company engaged in electrical equipment industry, Premier Energies Ltd shares today surged over 7% after the company’s subsidiaries won 2 orders worth Rs 765 crore. Last trading price of Premier Energies shares on BSE is Rs 1141.60 per share with intraday gain of 2.43%. Earlier this year on September 3, 2024 Premier Energies stock made a bumper debut on the bourses. Its shares were listed at Rs 991 on BSE with a huge premium of 120.22% over the upper end of its issue price of Rs 450. While on the NSE, Premier Energies shares opened at Rs 990, with a premium of 120%.
Oct 14, 2024, 2:35 pm IST
Gensol Engineering Bags New Order, Shares Gain 3%
Small cap renewable energy and electric mobility pioneer, Gensol Engineering Ltd shares today zoomed nearly 3% and surged 6.76% in last 1-week. Last trading price of Gensol Engineering shares on BSE stood at Rs 841.00 per share. Gensol Engineering shares offered 90% return in last 2-years. The company today awarded new contract by UAE’s leading sustainable development and clean energy development company for the design, construction, and long-term operation and maintenance of rooftop solar photovoltaic (PV) systems for the engineering facilities of a leading aviation company in Dubai.
Oct 14, 2024, 2:23 pm IST
Tata Chemicals Falls Over 6%
Mid cap Tata Group company, Tata Chemicals shares today plunged by 6.10% on BSE. Current market price of Tata Chemicals Ltd shares on BSE is Rs 111.85 per share. The 52-week low price of Tata Chemicals shares on BSE is Rs 933.00 indicating the scrip is trading 16.01% away from 52-week low price. The company has a market capitalisation of Rs 28,330.17 crore. However, Tata Chemicals shares gained 3.37% in last 1-week and zoomed 7.5% in last 1-year. Tata Chemicals will declare its financial results on October 17, 2024. The company on October 8 informed re-affirmation of credit rating by CARE Ratings Limited.
Oct 14, 2024, 2:10 pm IST
Gold Prices Slip In India, Oct 14: Yellow Metal Prices Decline, Silver Prices Steady
Gold prices in India today witnessed marginal fall on October 14, 2024 as US Dollar gained strength and market participants glued to news related to Federal Reserve’s monetary trajectory next month. 22k gold price in India today recorded dip of Rs 50 to settle at Rs 71,150/10 grams and 100 grams of 22 carat gold rate on Monday fell by Rs 500 to Rs 7,11,500 on Monday. 24k gold prices today declined by Rs 50 to Rs 77,620/10 grams and 100 grams of 24 carat yellow metal prices today slipped by Rs 500 to Rs 7,76,200 on October 14 with the beginning of the week.
18k gold prices today dipped by Rs 40 to Rs 58,220/10 grams and 100 grams of 18 carat gold price today fell by Rs 400 to Rs 5,82,200.
Will gold prices fall or not as festival season has kicked off in India? Motilal Oswal said, "We expect gold to correct by 5-7%, before the next leg up and buy on dips is recommended." Therefore, gold traders can utilize the opportunity to buy the yellow metal. However, in next coming 2-years, the analyst thinks gold prices are likely to hit the new high of Rs 86,000/10 grams. Current rally in gold prices is supported by robust demand due to the ongoing festive season.
According to Reuters, “the continued momentum of the U.S. currency on reigned-in rate cutting expectations has created an obstacle for the gold price,” said Tim Waterer, chief market analyst at KCM Trade.
Mahindra Holidays has voluntarily liquidated its Russian subsidiary, Holiday Club Resorts Rus LLC, effective October 10. The company stated that the liquidation will not have any material impact on its consolidated financials, as HCR Rus LLC was not a significant subsidiary. The entity has officially ceased to be part of the company.
Oct 14, 2024, 1:59 pm IST
GSFC Launches New Hydroxylamine Sulphate Plant in Vadodara
Gujarat State Fertilizers & Chemicals (GSFC) has commissioned a new manufacturing facility at Fertilizernagar, Vadodara, dedicated to producing hydroxylamine sulphate crystal (FIX crystal). The plant has an annual production capacity of 6,600 metric tonnes.
Oct 14, 2024, 1:48 pm IST
JSW Energy Subsidiary Inks 40-Year Energy Storage Deal with MSEDCL
JSW Energy PSP Two, a subsidiary of JSW Energy, has signed an Energy Storage Facility Agreement (ESFA) with Maharashtra State Electricity Distribution Company (MSEDCL) for the procurement of 1,500 MW / 12,000 MWh of pumped hydro energy storage. Under the 40-year agreement, JSW Energy will supply storage capacity and receive a fixed capacity charge of Rs 84.66 lakh per MW annually.
Oct 14, 2024, 1:48 pm IST
JSW Infrastructure Subsidiary Acquires Majority Stake in Navkar Corporation
JSW Port Logistics, a subsidiary of JSW Infrastructure, has successfully completed the acquisition of a 70.37% stake in Navkar Corporation from its promoters.
Oct 14, 2024, 1:24 pm IST
Sula Vineyards Reports Marginal Decline in Q2 Net Revenue
Sula Vineyards saw a slight dip in its Q2 net revenue, which fell by 1.3% to Rs 141.8 crore compared to Rs 143.7 crore in the same period last year. Despite this decline, revenue from the company's own brands rose marginally by 0.3%, reaching Rs 127.2 crore against Rs 126.8 crore year-on-year. Additionally, the wine tourism segment experienced a modest growth of 1.3%, with revenue increasing to Rs 12.2 crore from Rs 12.1 crore during the same period.
Oct 14, 2024, 12:44 pm IST
Sudarshan Chemical Industries Board to Discuss Fundraising Plans on October 16
Sudarshan Chemical Industries has scheduled a Board meeting on October 16 to explore various fundraising options. The company will consider raising capital through the issuance of equity shares via qualified institutional placements (QIP), preferential issues, rights issues, private placements, bonds, debentures, or other suitable methods.
Oct 14, 2024, 12:43 pm IST
PNC Infratech Bags Rs 2,039 Crore Project from CIDCO for Infrastructure Development
PNC Infratech, a leading construction engineering company, has received a Letter of Acceptance from the City & Industrial Development Corporation of Maharashtra (CIDCO) for a significant project valued at Rs 2,039.6 crore. The project involves the integrated infrastructure development of roads with a width of 20 meters and above, including the construction of major and minor structures such as flyovers, bridges, VUPS, PUPS, and other allied electrical works like street lighting in TPS - 8, 9, and 12 under the NAINA project.
Oct 14, 2024, 11:59 am IST
Shriram AMC To Launch Shriram Liquid Fund On 4th November 2024
Shriram Asset Management Company limited, part of the Shriram Group, will launch the Shriram Liquid Fund on 4th November 2024. This new fund aims to generate optimal returns with lower to moderate levels of risk, and high liquidity by investing in debt and money market instruments. The fund will maintain an average maturity of up to 91 days. The New Fund Offer (NFO) will close on 8th November 2024. The fund would invest in A1+ rated instruments and aim to prioritise Stability and Liquidity while achieving an optimum balance on Returns of the scheme by following a systematic approach towards investments. The fund would do this by diversifying investments across sectors and picking up papers which historically have had a highest possible rating along with stable rating outlook.
Oct 14, 2024, 11:33 am IST
Gold Rates In India On 14th October 2024
Gold prices in India today were Rs. 77,620/- per 10 grams for 24-carat gold and Rs. 71,150/- for 10 grams of 24-carat gold. Yellow metal rates in India decreased very marginally after the prices did not move last weekend since yesterday's close.
JSW Energy Signs PPA for 700 MW ISTS/STU-Connected Solar Capacity with NTPC
JSW Renew Energy Thirteen Limited, a step-down subsidiary of JSW Energy Limited, has signed Power Purchase Agreement (“PPA”) with NTPC Limited (“NTPC”) for ISTS/STU-connected solar capacity of 700 MW. The PPA is signed for supply of power for a period of 25 years with a tariff of ₹2.59/KWh. The aforesaid project is expected to be commissioned by Jun-2026. The current solar pipeline capacity stands at 3.2 GW with PPAs signed for 2.0 GW. JSW Energy has total locked-in generation capacity of 18.2 GW comprising 7.7 GW operational, 2.1 GW under-construction across wind, thermal and hydro and RE pipeline of 8.3 GW. The company also has 16.2 GWh of locked-in energy storage capacity through battery energy storage system and hydro pumped storage project. The Company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. JSW Energy has set an ambitious target of achieving Carbon Neutrality by 2050.
Oct 14, 2024, 10:53 am IST
Narmadesh Brass Industries Limited, a Subsidiary of Sprayking Limited, Secures Brass Billety Export Procurement Contract worth INR 50 Million
Sprayking Limited, a leading player in the brass components industry, is excited to announce that its Subsidiary, Narmadesh Brass Industries Limited, has secured a substantial export order for brass billets. The purchase order, valued at approximately 250 million, comes from a prominent Dubai-based company, with the goods destined for China, one of the largest and fastest-growing markets globally. This strategic deal represents a significant milestone for both Narmadesh Brass Industries and Sprayking Limited, reinforcing their commitment to expanding their global presence and meeting the rising demand for brass components in the international market.
Oct 14, 2024, 10:38 am IST
Veranda XL Signs MoU With Madras Christian College
Veranda XL, a subsidiary of Veranda Learning Solutions, announced a significant collaboration with Madras Christian College (MCC) through the signing of a Memorandum of Understanding (MoU) aimed at providing professional Chartered Accountancy (CA) training on campus under the brand of JK Shah Classes. Through this partnership, JK Shah Classes (JKSC) will deliver a world-class CA curriculum, equipping students with comprehensive knowledge and practical skills in accounting, auditing, and finance. Madras Christian College, a premier educational institution in India, is ranked 14th in the College Category in the 2024 NIRF Rankings. Established in 1837, MCC has a long-standing tradition of academic excellence and is recognized for its commitment to shaping the future of its students. This collaboration marks another milestone in MCC’s mission to provide top-tier education and open new professional avenues for its students.
Oct 14, 2024, 10:25 am IST
Indo Count Announces Acquisition Of Modern Home Textiles Inc.,USA
Indo Count Industries Ltd. today announced another strategic move to broaden its Utility Bedding segment. Indo Count Global, Inc. (ICG), a 100% U.S. based subsidiary of Indo Count Industries has acquired Modern Home Textiles, Inc., manufacturer of wide range of pillows and other f illed products (Utility Bedding) having its facility located at Phoenix, Arizona with an annual capacity to produce 8 mn. pillows. ICG also acquired last month majority stake in Fluvitex USA, Inc., a pillow and quilt manufacturing company based in Columbus, Ohio which has the capacity to produce 5 mn. pillows and 1.5 mn. quilts. This back-to-back acquisition is a stepping stone to establish an integrated utility bedding business for the North American Market. These acquisitions have diAerent locations one in Midwest and the other one on the West Coast thus providing an eAicient distribution base to both existing and prospective customers.
Oct 14, 2024, 10:05 am IST
Gensol Engineering Limited Secures INR 186 Crore Contract For 23 MWp Rooftop Solar Project In Dubai
Gensol Engineering Limited, a leading player in the renewable energy sector specializing in solar power engineering, procurement, and construction (EPC) services, is proud to announce that it has been awarded a prestigious contract by UAE’s leading sustainable development and clean energy development company for the design, construction, and long-term operation and maintenance of rooftop solar photovoltaic (PV) systems for the engineering facilities of a leading aviation company in Dubai. With a total installed capacity of 23,178 kWp (23 MWp), the project underscores Gensol Engineering’s commitment to driving sustainability in the Middle East by contributing to the region’s transition to cleaner energy sources. The contract, valued at AED 81.6 Mn (INR 186 Crore) plus taxes, is set to be executed over a 20-month period.
Oct 14, 2024, 9:58 am IST
Nifty 50 Price
The 50-scrip index is at 25,106.05, higher by 141.80 points, after opening at 25,023.45 and touching an intraday high of 25,120.65.
Oct 14, 2024, 9:57 am IST
Sensex Price
Sensex is trading at 81,851.83, up by 480 points or 0.59%. The benchmark touched an intraday high of 81,893.86.
Oct 14, 2024, 9:00 am IST
IT And Banking Stocks To Remain Resilient
Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services: "IT and banking stocks are likely to remain resilient on the back of expected good Q2 numbers. However, there is only limited scope for the market to move up sharply from here. FY25 earnings expectations have been downgraded by most analysts. The uncertainty surrounding the US presidential elections next month also is likely to weigh on markets along with the geopolitical tensions in the Middle East."
Oct 14, 2024, 8:26 am IST
What To Expect From Market Today?
Saurabh Lohiya, Senior VP, Stoxmind.ai: The underlying trend is expected to remain choppy, which reflects the mixed signals from geopolitical events and the economy. After a streak of volatile sessions, the Nifty50 was range bound in the past week with a minor change of around 50 points. The India VIX has come down by 6.42% to 13.22. Interestingly, Nifty formed a bearish high wave type candle on both the weekly chart and the last trading day. The nearest technical support level is the price anchor of 24500, while resistance is at 25250. The choppy trend can lead to impulsive decision-making by Nifty50 traders as they struggle to interpret the mixed signals and make sense of the market's behaviour. It is a time to exercise patience and discipline, sticking to a trading plan and avoiding emotional reactions to the market's fluctuations.
Oct 14, 2024, 8:24 am IST
Hyundai IPO Ahead
Hyundai IPO is the mother of all IPO in India, which is all set to open next week on both BSE and NSE's primary market for bidding. The price band has been fixed at Rs 1,865 to Rs 1,960 per equity share. The majority of experts are recommending Subscribe to the IPO, with a positive outlook for a long-term basis. Post the IPO, Hyundai is expected to list on BSE and NSE, while would rival behemoths like Tata Motors and Maruti Suzuki.
Oct 14, 2024, 8:24 am IST
Stock Market In Previous Session
Indian equity markets ended in the red for the second consecutive session on Friday, October 11, with both the Sensex and Nifty closing with minor losses. The Sensex dropped 230 points to settle at 81,386, while the Nifty fell 34 points to end at 24,964. Despite the volatility, midcaps stood out as a bright spot, with the Midcap Index gaining 277 points to close at 59,213.
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