Indian stock market extended its fall on October 24, 2024, with Sensex erasing its 80,000 mark and Nifty 50 giving up on 24,400 mark. HUL, SBI Life and Hindalco are top 3 Nifty losers. Adani Power Ltd shares today witnessed rally of over 3% on BSE after the company divulged its plans to consider fundraise of Rs 5000 crore in its upcoming meeting on October 28, 2024. Current market price of Adani Power Ltd shares on BSE is Rs 600.00 per share.
Leading large cap FMCG major Colgate-Palmolive India Ltd shares today plummeted over 3% despite reporting a jump of 16.2% YoY in its net profit after tax at Rs 395.1 crore for Q2 FY25 as against Rs 340.1 crore declared in the corresponding quarter of last year. The company also recommended an interim dividend of Rs 24 per equity share of the face value of Re 1/- for the FY 2024-25.
Earlier, after opening higher on Thursday morning, the benchmark indices Sensex and Nifty 50 experienced a correction. By 11:50 AM, the Sensex stood at 80,040, down by 41.79 points (0.052%), while the Nifty 50 was at 24,408, shedding 26.65 points (0.11%).
Sector-wise, the Nifty FMCG index was trading in the red, dropping nearly 2%, while the Nifty PSU Bank index emerged as the top gainer, rising by 1.38%. Most of the other sectoral indices were trading in positive territory. Notably, Hindustan Unilever shares tumbled nearly 7% after the company's Q2 earnings failed to meet market expectations.
Earlier, Indian stock market opened higher with Sensex hitting an intraday high of 80,259.82, while Nifty 50 touching an high of 24,480.65. However, soon after both the benchmarks corrected and are trading on a mixed note. Bank Nifty surged over 220 points.
Stocks like HDFC Bank, Sun Pharma, Tata Motors, Adani Ports, HCL Tech and M&M were top bulls. While stocks like Hindustan Unilever, Nestle, Bharti Airtel, Maruti Suzuki and Bajaj Finserv were top bears.
In the previous session, BSE Sensex dropped by 139 points to finish at 80,082, while the Nifty 50 slipped by 37 points to settle at 24,436. The Nifty Bank index also saw a minor dip, falling 18 points to end at 51,239.
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Oct 24, 2024, 3:24 pm IST
Adani Wilmar Stock Surges
Adani Group-backed FMCG company, Adani Wilmar surged by over 5.3% to over Rs 335 apiece. The bullish trend comes after the company turned profitable to Rs 311 crore in Q2FY25 compared to net loss of Rs 131 crore in Q2FY24.
Oct 24, 2024, 2:34 pm IST
LT Foods Share Decline
The stock price of LT Foods dipped by 4% after its Q2 earnings. The net profit surged by 4.3% YoY to Rs 157.3 crore, while revenue was at Rs 2,107.8 crore up by 6.6% YoY.
Oct 24, 2024, 2:07 pm IST
Tata Power Trading Company, Keppel Collaborate To Introduce CaaS Solutions
Tata Power Trading Company and Singapore-based Keppel on Thursday said they have entered into a "collaboration arrangement" to launch sustainable cooling-as-a-service (CaaS) solutions in India. CaaS enables businesses and building owners to subscribe to long-term, energy-efficient space cooling solutions without investing heavily in infrastructure, thus allowing them to enjoy significant energy and cost savings, the companies said in a joint statement. The collaboration aligns with India's Cooling Action Plan (ICAP) and its smart cities mission. It aims to provide CaaS solutions through the deployment of both large-scale district cooling systems (DCS) as well as individual building systems to key urban areas, and commercial and industrial sectors. The collaboration focuses on high-demand environments, such as airports, IT parks, Special Economic Zones, data centres and other industrial and commercial properties where the aggregation of cooling demand through solutions can help reduce energy use by up to 40 per cent and cut carbon emissions by up to 50 per cent, according to a PTI report.
Oct 24, 2024, 1:38 pm IST
Zomato Hikes Platform Fee Amid Festive Season
Online food delivery platform Zomato on Thursday said it has hiked platform fee in certain cities. In a regulatory filing clarifying on a report that the company has hiked its platform fee to Rs 10 amid festive season rush, Zomato said, "We have indeed increased the platform fee yesterday (Wednesday) across certain cities." In the national capital, the company is now charging Rs 10 as "festive season platform fee". "Such changes in our platform fee are a routine business matter and are done from time to time and may vary from city to city," the company said without specifying in which cities it has hiked the platform fee by how much.
Oct 24, 2024, 1:37 pm IST
Au Small Finance Q2 Net Profit Jumps 42.15%
The bank reported standalone net profit of Rs 571.21 crore for the quarter ended September 30, 2024 as compared to Rs 401.83 crore in the same period last year, registering a year-on-year growth of 42.15 per cent.
Interest income of the bank rose by 54.51 per cent at Rs 3910.61 crore for the quarter ended September 30, 2024 as against Rs 2531.05 crore in the corresponding period last year.
During the July-September quarter, total income rose substantially by 53.85 per cent to Rs 4,548.57 crore from Rs 2,956.51 crore in the year ago period.
Meanwhile, operating expenses increased by 47.99 per cent to Rs 3,416.81 crore from Rs 2,308.82 crore in the same period last year.
Oct 24, 2024, 1:17 pm IST
Colgate-Palmolive Declares 16.2% YoY Jump In Q2 Net Profit, Shares Fall
Leading large cap FMCG major Colgate-Palmolive India Ltd shares today plummeted over 3% despite reporting a jump of 16.2% YoY in its net profit after tax at Rs 395.1 crore for Q2 FY25 as against Rs 340.1 crore declared in the corresponding quarter of last year. The company also recommended an interim dividend of Rs 24 per equity share of the face value of Re 1/- for the FY 2024-25. Current market price of Colgate-Palmolive India Ltd shares on BSE today is Rs 3207.00 per share. The company’s market cap is Rs 87,225.79 crore. Colgate-Palmolive India shares slipped over 11% in last 2-weeks and jumped over 54% in last 1-year.
Oct 24, 2024, 12:32 pm IST
Adani Power Plans Rs 5000 Cr Fundraise, Shares Jump
Large cap company Adani Power Ltd shares today witnessed rally of 2.35% on BSE after the company divulged its plans to consider fundraise of Rs 5000 crore in its upcoming meeting on October 28, 2024. Current market price of Adani Power Ltd shares on BSE is Rs 600.00 per share. The company has a market capitalisation of Rs 2,31,416.34 crore. The company will also consider its financial results for the quarter and half year ended September 30, 2024 on October 28, 2024. Adani Power shares recorded decline of 13.64% in last 3-months and gained 89.57% in last 1-year.
Oct 24, 2024, 12:27 pm IST
Gold Prices Retreat In India, Oct 24: 24K/100 Gram Gold Prices Fall By Rs 6000
In a huge relief for buyers ahead of Dhanteras 2024 and Diwali 2024, gold prices today witnessed decline as robust dollar and a surge in U.S. Treasury yields countered support from safe-haven demand linked to the upcoming US election and Middle East tension. 22k gold prices today declined by Rs 550 to Rs 72,850/10 grams and 100 grams of 22 carat yellow metal prices today slipped by Rs 5500 to Rs 7,28,500 in India on October 24, 2024. 24k gold prices today turned cheaper by Rs 600 to Rs 79,470/10 grams and 100 grams of 24 carat precious metal prices today edged lower by Rs 6000 to Rs 7,94,700 on Thursday.
18K gold prices today slipped by Rs 450 to Rs 59,610/10 grams and 100 grams of 18 carat precious metal prices today fell by Rs 4500 to Rs 5,96,100.
1 gram gold price today for 22k in India today is Rs 7,285 as prices declined by Rs 55. 1 gram gold rate today for 24k dipped by Rs 60 to Rs 7947. 1 gram gold rate today for 18 carat fell by Rs 45 to Rs 5961.
According to Reuters, “For the rest of 2024, we see potential highs of ,800, with 2025 targets around ,000 or higher, driven by continued geopolitical risks, U.S. monetary easing cycle, and central bank purchases," said Sugandha Sachdeva, founder of New Delhi-based research firm SS WealthStreet.
Oct 24, 2024, 12:01 pm IST
Netweb Broadens Range of NVIDIA MGX Platform Servers
NETWEB, the leading Indian OEM in high-end computing, today announced an expansion to its range of NVIDIA MGX platform based servers. India’s first ‘Make in India’ Tyrone servers, incorporating NVIDIA MGX-based Grace and NVIDIA GH200 GraceHopper Superchips, will be offered by Netweb for off-prem and on-prem AI cloud infrastructure. This will be combined with allied software and services for generative AI and scientific innovations. Netweb currently designs and manufactures more than ten models under its flagship Tyrone range of NVIDIA MGX AI systems.
Oct 24, 2024, 11:50 am IST
Tata Communications Unveils AI Infrastructure with NVIDIA Accelerated Computing
Tata Communications today announced a transformative upgrade to its AI cloud infrastructure in India, powered by NVIDIA Hopper GPUs. The strategic collaboration marks a significant milestone in the country’s AI journey, positioning Tata Communications as a key player in enabling AI applications across a wide spectrum of industries — including manufacturing, healthcare, retail, and banking and financial services — and equipping them with the computing power needed to handle complex AI workloads. As part of the initiative, Tata Communications will integrate cutting-edge NVIDIA software solutions such as NVIDIA NIM microservices, and the NVIDIA Omniverse and NVIDIA Isaac platforms, into its AI Cloud offerings. These technologies will provide businesses with an extensive suite of tools and services designed for AI-driven simulation, automation and more. At the end of this year, Tata Communications will begin the first phase of its large-scale deployment of Hopper GPUs, establishing itself as one of the largest NVIDIA Hopper GPU cloud-based supercomputers in India. The second phase, planned for 2025, will further expand the infrastructure with Blackwell GPUs.
Oct 24, 2024, 11:33 am IST
Aurionpro Secures Major Win to Transform Corporate Banking Services across multiple countries in South Asia for a Leading Bank
Aurionpro announced another significant multi-million-dollar win, following its recent success in the Asian market. This new project entails delivering iCashpro+, our comprehensive Transaction Banking Solution, for a leading bank across multiple countries in South Asia. This is set to enhance the overall customer experience for the bank’s corporate clients, further solidifying Aurionpro's leadership in providing innovative and robust digital banking platforms. By delivering iCashpro+ to another prominent bank in the Asian markets, Aurionpro consolidates its position in the market as a preferred technology provider with capabilities to deliver advanced fintech innovations such as AI-powered analytics and sophisticated digital banking solutions. Aurionpro’s iCashpro+ offers advanced cash management features such as digital payments, virtual accounts, and liquidity management, enabling transaction efficiency and providing real-time insights into liquidity and payment flows. By implementing an innovative cash management system, the bank simplifies complex transactions while gaining instant visibility, keeping it at the forefront of digital banking innovation to meet its corporate clients' evolving needs.
Oct 24, 2024, 11:28 am IST
Gold Prices Plummet in India After Record-Breaking High
India gold rates today for 10 grams of 24-carat gold is at Rs. 79,470/- and 22-carat at Rs. 72,850/-. Pure gold fell by Rs. 600/- per 10 grams, and 22-carat by Rs. 550/-. Per 10 grams.
TVS Motors Celebrates 1 Million Sales Milestone with Launch of New Variant TVS Raider with iGO
TVS Motor Company (TVSM), a leading global automaker that operates in the two and three-wheeler segments, today announced the launch of a new variant the TVS Raider iGO to celebrate surpassing one million sales milestone for this brand. TVS Raider is the most awarded and tech loaded 125 cc motorcycle that has redefined industry standards since its launch. The newly launched TVS Raider boasts of the “boost mode”, a category first feature enabled by iGO Assist technology. To commemorate this milestone, the TVS Raider has launched the fastest 125 cc motorcycle in the segment, further exemplifying its commitment to cutting-edge technology. The variant features a stunning new Nardo Grey color complemented by red alloys, along with an upgraded reverse LCD Connected cluster packed with over 85 connected features. This combination enhances the motorcycle’s sporty and premium appeal, ensuring an exciting , safe and connected ride.
Oct 24, 2024, 10:38 am IST
Ashok Leyland subsidiary bags order for 500 Electric Buses from MTC, Chennai
Ashok Leyland, the Indian flagship of the Hinduja Group and the country’s leading commercial vehicle manufacturer, today announced that its subsidiary OHM Global Mobility has bagged an order for 500 12-m ultra-low floor electric buses from the Metropolitan Transport Corporation (MTC), Chennai. OHM is Ashok Leyland’s electric mobility arm, focused on Mobility-as-a-Service business. This order will further strengthen Ashok Leyland's dominant position in the bus segment and underscores its commitment to advancing sustainable urban mobility in India. Switch Mobility, another subsidiary of Ashok Leyland, shall supply state-of-the-art, EiV12 model buses to OHM, who in turn shall operate and maintain the buses over a period of 12 years, as per the contract awarded by MTC. While 400 of these buses will be non-AC, 100 buses will be equipped with air conditioning as well, ensuring a comfortable commute for passengers across the city of Chennai. This will help the city take a major step towards green public transportation. The electric buses are designed to comfortably seat 37 passengers, with space for an additional 24 standing passengers. With a range of over 200 kilometers per charge, these buses are ideal for Chennai's long city routes, ensuring uninterrupted service across the city's vast urban landscape. Engineered for both comfort and efficiency, the buses feature an ultra-low-floor design, enabling faster and easier boarding, which not only enhances passenger convenience but also improves overall accessibility and reduces travel time.
Oct 24, 2024, 10:20 am IST
RailTel Bags A Work Order From Government Of Gujarat
RailTel Corporation of India Ltd. has received the work order from Home Department, Government Of Gujarat for Project amounting to Rs. 1,44,88,48,888 (Including Tax). Order includes supply Installation Commissioning and Operations Maintenance of CCTV Video surveillance system at various branches LCB SoG cyber police station and LIB and police stations for Cluster 1, 2 and 3
Oct 24, 2024, 10:01 am IST
Transport for NSW and HCLTech expand digital transformation partnership
HCLTech, a leading global technology company, and the New South Wales Government's transport and roads agency, Transport for NSW, have extended their ongoing partnership to enable world-class transport services and experience for customers. Under a new five-year agreement, HCLTech will deliver end-to-end managed services for business-critical and operational applications, platforms, and cloud operations with embedded security services. This will also include continuous improvement, AI and automation-driven innovation, and major enhancement services. This partnership will provide a future-ready platform for onboarding transport applications, services and business areas. HCLTech will focus on scaling and future proofing Transport for NSW's technology by building a resilient, reliable, secure application and platform landscape.
Oct 24, 2024, 9:29 am IST
Nifty Price
The benchmark opened at 24,412.70, and touched an intraday high and low of 24,480.65 and 24,400.85 respectively. Currently, the index is at 24,428.90, down 6.60 points or 0.03%.
Oct 24, 2024, 9:29 am IST
Sensex Price
Sensex opened at 80,098.30 and touched an intraday high of 80,259.82. Currently, the index is at 80,145.27 up 63.29 points or 0.08 %.
Oct 24, 2024, 8:57 am IST
Derivatives Market Outlook
Anand James, Chief Market Strategist, Geojit Financial Services: Nifty weekly contract has highest open interest at 25000 for Calls and 24000 for Puts while monthly contracts have highest open interest at 27000 for Calls and 24500 for Puts. Highest new OI addition was seen at 25000 for Calls and 24200 for Puts in weekly and at 24500 for Calls and 23000 for Puts in monthly contracts. FIIs increased their future index long position holdings by 2.17%, increased future index shorts by 0.77% and in index options, 11.74% decrease in Call longs, 2.00% increase in Call short, 22.30% decrease in Put longs and 4.33% decrease in Put shorts
Oct 24, 2024, 8:37 am IST
Sensex Technical Outlook Today
Prabhudas Lilladher: Sensex made a new low at 79890 zone with bias getting weaker and sentiment maintained with a very cautious mode with further downward movement anticipated. The index has broken below the important 100 period MA at 80470 zone and would have the next major support positioned near 78600 levels, as mentioned earlier. The support for the day is seen at 79600/24300 levels while the resistance would be seen at 80500/24600 levels.
Oct 24, 2024, 8:37 am IST
Nifty Technical Outlook Today
Prabhudas Lilladher: Nifty amid volatility ended below the 24500 zone with bias and sentiment maintained with a cautious approach having the crucial support near the 24000 level as of now. The index would need to breach above the 24750 zone decisively to improve the bias overall and thereafter, expect for further rise in the coming days.
Oct 24, 2024, 8:34 am IST
Market Previous Session
BSE Sensex dropped by 139 points to finish at 80,082, while the Nifty 50 slipped by 37 points to settle at 24,436. The Nifty Bank index also saw a minor dip, falling 18 points to end at 51,239.
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