✅ Sensex surges 364 points at the Close; Nifty near 24,500
Tue, Oct 29, 2024 3:41 PM

✅ Sensex surges 364 points at the Close; Nifty near 24,500

✅ Amid positive global cues, benchmark indices closed on a positive note today. 📢 At 3:30 PM, the Sensex improved by 363.99 points or 0.45% at 80,369.03, and the Nifty was up 127.70 points or 0.52% at 24,466.85. 📊 Among sectoral, Nifty PSU Bank (⬆️3.64%) turned out to be the best performer while Nifty Auto (⬇️1.57%) saw considerable selling.

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IGL shares rally 5% even as Q2 net profit declines 18% YoY
Tue, Oct 29, 2024 3:08 PM

IGL shares rally 5% even as Q2 net profit declines 18% YoY

Shares of Indraprastha gas rose 5% to their day’s high of Rs 425.50 on BSE even as the company reported a year-on-year fall of 17.8% in its net profit to Rs 454.1 crore for the second quarter of the financial year 2025.The profit for the same quarter of the previous year was reported at Rs 552.6 crore. However, IGL’s revenue witnessed a rise of 7% YoY to Rs 4,088 crore for the quarter.

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Ola Electric Skids Below IPO Price, Down 50% From All-Time High
Tue, Oct 29, 2024 3:04 PM

Ola Electric Skids Below IPO Price, Down 50% From All-Time High

Ola Electric Mobility‘s shares have fallen below its listing price of ₹76 on Tuesday. What Happened: Ola Electric’s shares have fallen 3.54% to an intraday low of ₹74.84 on Tuesday, sliding below the company’s listing price of ₹76. The shares have fallen 7% in the week and 50% from its all-time high of ₹157.40 in August.

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Realty developer Anant Raj to raise up to Rs 2,000 crore via QIP
Tue, Oct 29, 2024 3:03 PM

Realty developer Anant Raj to raise up to Rs 2,000 crore via QIP

Listed realty developer Anant Raj Ltd will raise up to Rs 2,000 crore via Qualified Institutional Placement (QIP) for expansion and development of projects.Earlier this year, the company had raised Rs 500 crore QIP and used part of the funds raised to bring down the debt and working capital requirements.The company has plans to invest around Rs 1,000 crore to develop a total of four projects.

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Cipla's Q2 Net Profit Climbs 15.2% To ₹1,302.53 Cr, Beats Estimates
Tue, Oct 29, 2024 3:01 PM

Cipla's Q2 Net Profit Climbs 15.2% To ₹1,302.53 Cr, Beats Estimates

Cipla posted a 15.2% rise/decline in its net profit for the second quarter of the financial year, though shares were still in the red on Tuesday. What Happened: India’s third-largest pharmaceutical company said its net profit attributable to owners came in at ₹1,302.53 crore for the quarter ended September, compared with the ₹1,130.91 crore it earned in the same period last year.

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Tata Motors, Bajaj Auto and 12 other Nifty Auto stocks tumble up to 6%
Tue, Oct 29, 2024 3:00 PM

Tata Motors, Bajaj Auto and 12 other Nifty Auto stocks tumble up to 6%

After a brief rally on Monday, auto stocks resumed their downward trend on Tuesday, October 29, with 14 out of 15 constituents of the Nifty Auto index trading in the red. These stocks declined between 1% to 6%, with the index plunging 2.70% to 23,300—a level last seen in early June. Tata Motors led the decline with a 6% drop, followed closely by Bajaj Auto, Hero MotoCorp, and more.

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Smallcap stock Bharat Seats to consider bonus share issue on November 5
Tue, Oct 29, 2024 2:19 PM

Smallcap stock Bharat Seats to consider bonus share issue on November 5

Bharat Seats' board will consider issuing bonus shares in its November 5 meeting, with shareholders who purchase before the ex-date eligible to receive the shares; the company will also approve its Q2 results in the same meeting. Bharat Seats had last issued bonus shares in 2007 and its stock has risen 42% in the last year.

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Ami Organics Q2 Results: Stock nears record high
Tue, Oct 29, 2024 2:18 PM

Ami Organics Q2 Results: Stock nears record high

Ami Organics' shares surged up to 14% after reporting a profit in Q2 FY25, with revenue growth of 43.2% year-on-year to ₹246.7 crore and net profit of ₹37 crore, driven by strong performance in pharmaceutical intermediates and specialty chemicals. The company raised its revenue growth guidance to 30% for FY25, sending its stock to a record high.

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Gold shines bright! Up 30% from Dhanteras 2023
Tue, Oct 29, 2024 1:56 PM

Gold shines bright! Up 30% from Dhanteras 2023

As Dhanteras approaches, gold buyers are reflecting on a prosperous year, with those who purchased gold on last year’s Dhanteras, November 10, 2023, enjoying returns of around 30%. Despite this substantial rise, experts predict further upside potential, with gold prices expected to reach Rs 87,000 per 10 grams by next Dhanteras, reflecting an additional gain of 10-11% from current levels.

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Jio Financial Services get RBI nod for online payment aggregator business
Tue, Oct 29, 2024 1:53 PM

Jio Financial Services get RBI nod for online payment aggregator business

Jio Financial Services in a release on October 29 said that it has received approval from RBI for its arm to operate as an "online payment aggregator.The authorisation has been given to Jio Financial’s wholly-owned subsidiary Jio Payment Solutions Limited (JPSL), it added. At 12.41 pm, Jio Financial Services shares were trading at ₹323.25 apiece, or 6.50 per cent up since opening on the BSE.

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Apple's iPhone Exports From India Reach ₹50,000 Cr: Report
Tue, Oct 29, 2024 1:51 PM

Apple's iPhone Exports From India Reach ₹50,000 Cr: Report

Apple Inc. has witnessed a substantial increase in iPhone exports from India, indicating a strategic shift from China. What Happened: Apple’s iPhone exports from India saw a 33% rise in the six months leading up to September, reported Bloomberg. The US tech behemoth exported nearly $6 billion (around ₹50,448 crore) worth of iPhones manufactured in India.

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Ola Electric Mobility shares fall below IPO price as sell-off intensifies
Tue, Oct 29, 2024 1:49 PM

Ola Electric Mobility shares fall below IPO price as sell-off intensifies

Shares of Ola Electric Mobility Ltd. are down another 2.6% in Tuesday's trading session and have now slipped below their IPO price of ₹76. The stock has declined in three out of the last four trading sessions and in eight out of the last 11 trading sessions. Ola Electric Mobility shares had made their stock market debut on August 9, post which, they had made a high of ₹157.4, before correcting.

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Godavari Biorefineries IPO: Latest GMP signal muted listing of shares
Tue, Oct 29, 2024 1:47 PM

Godavari Biorefineries IPO: Latest GMP signal muted listing of shares

Godavari Biorefineries IPO: The initial public offering (IPO) of Godavari Biorefineries, the ethanol-based chemicals manufacturer, received decent demand from investors amid volatility in the secondary market. Godavari Biorefineries IPO allotment has been fixed and the shares are likely to make their stock market debut on October 30.

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Adani Ports Q2 Results: FY25 revenue seen up to ₹31,000 crore
Tue, Oct 29, 2024 1:47 PM

Adani Ports Q2 Results: FY25 revenue seen up to ₹31,000 crore

Adani Ports and Special Economic Zones Ltd. (APSEZ) on Tuesday, October 29, reported a 40% year-on-year (YoY) rise in net profit at ₹2,445 crore in the second quarter of the financial year 2025. The company posted a net profit of ₹1,748 crore in the corresponding quarter of last year. Revenue for the quarter rose 6.3% year-on-year to ₹7,067 crore.

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Canara Bank Q2 results: Net profit rises 11%, asset quality improves
Tue, Oct 29, 2024 1:45 PM

Canara Bank Q2 results: Net profit rises 11%, asset quality improves

Canara Bank reported a net profit of ₹4,014 crore in second quarter of FY25, marking an 11.3% year-on-year increase from ₹3,605 crore. The improvement is largely supported by enhanced asset quality. The Gross Non-Performing Assets (GNPA) ratio declined to 3.73% from 4.76% last year. Net NPA also reduced to 0.99%, a 42 basis point drop, the bank said in a regulatory filing.

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