Indian benchmark indices closed higher amid fluctuations on October 10, with the Nifty hovering around the 25,000 mark. By the end of the trading session, the Sensex gained 144.31 points, or 0.18%, finishing at 81,611.41, while the Nifty rose by 16.50 points, or 0.07%, to settle at 24,998.50. Market breadth favored the bulls, with 2,152 shares advancing, 1,585 shares declining, and 119 remaining unchanged.
Among the top gainers on the Nifty were Kotak Mahindra Bank, HDFC Bank, Bharat Electronics, Maruti Suzuki, and Power Grid Corporation. In contrast, the biggest losers included Cipla, Trent, Tech Mahindra, Sun Pharma, and Hero MotoCorp.
Sector-wise, the IT index fell by 1%, while the pharma index saw a more significant decline of 2%. The realty index also dropped by 0.4%. Conversely, the banking index gained 1%, the power index rose by 0.7%, and the metals index added 0.3%.
In the midcap space, the BSE midcap index slipped by 0.3%, while the smallcap index managed a modest gain of 0.4%.
On the currency front, the Indian rupee closed nearly flat at 83.97 per dollar, compared to Tuesday's close of 83.96.
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Oct 10, 2024, 3:40 pm IST
Market Ends With Mild Gains
Indian benchmark indices closed higher amid fluctuations on October 10, with the Nifty hovering around the 25,000 mark. By the end of the trading session, the Sensex gained 144.31 points, or 0.18%, finishing at 81,611.41, while the Nifty rose by 16.50 points, or 0.07%, to settle at 24,998.50. Market breadth favored the bulls, with 2,152 shares advancing, 1,585 shares declining, and 119 remaining unchanged.
Oct 10, 2024, 2:59 pm IST
Ola Electric Mobility Halts 2-Day Rally Amid Audit Concerns
Ola Electric's two-day winning streak came to a stop as India's Ministry of Heavy Industries initiated an audit to ensure the company is properly maintaining its service centers and fulfilling its consumer warranty commitments. This development was reported by Reuters, citing sources familiar with the matter.
Oct 10, 2024, 2:50 pm IST
September Mutual Fund Data
In September, equity mutual fund inflows saw a slight dip, recording Rs 34,393 crore compared to Rs 38,212.4 crore in the previous month. Large cap funds witnessed a reduction in inflows, with Rs 1,769 crore compared to Rs 2,636.9 crore in August. Similarly, small cap funds experienced a minor decline, attracting Rs 3,071 crore versus Rs 3,209.3 crore in the prior month. On the other hand, midcap funds saw a marginal rise in inflows, reaching Rs 3,130 crore compared to Rs 3,054.7 crore in August.
Oct 10, 2024, 2:40 pm IST
Power Grid Wins Bid for Rajasthan Renewable Energy Transmission Project
Power Grid Corporation of India has emerged as the successful bidder under the tariff-based competitive bidding (TBCB) process to establish an inter-state transmission system. The project, titled “Transmission System for Evacuation of Power from Rajasthan Renewable Energy Zone Phase-IV (Part-2: 5.5 GW) (Jaisalmer/Barmer Complex): Part F (By clubbing Part F1 & F2),” will be executed on a build, own, operate, and transfer (BOOT) basis.
Oct 10, 2024, 2:29 pm IST
Bank of Maharashtra Posts Strong Q2 Growth
Bank of Maharashtra reported strong financial growth in the second quarter, with total deposits increasing by 15.46% to reach Rs 2.76 lakh crore as of September 30. Additionally, the bank's gross advances saw an impressive 18.73% rise, climbing to Rs 2.17 lakh crore during the same period.
Oct 10, 2024, 2:21 pm IST
Suzlon Energy Continues to Decline Despite Securing 400 MW Deal with Jindal Renewables
Shares of Suzlon Energy saw a sharp correction from the day's high, even as the wind turbine manufacturer announced a 400 MW captive wind power agreement with Jindal Renewables, aimed at advancing the decarbonization of steel production.
Oct 10, 2024, 2:03 pm IST
Suzlon Group Secures 400 MW Wind Power Deal
Suzlon Group on Thursday said the company has secured a 400 megawatt (MW) wind power deal from Jindal Renewables Power. It will set up the wind project in the Koppal region of Karnataka, the Group said in a statement. "Suzlon Group is set to contribute to decarbonisation of the hard-to-abate sectors by harnessing the power of wind through a significant 400 MW order from JSP Green Wind 1 Pvt Ltd (SPV of Jindal Renewables Power Private Limited)," it said. The power generated will be used for captive consumption at steel plants of Jindal Steel and Power located at Chhattisgarh and Odisha, Suzlon said without disclosing the exact value of the multi-crore order. Vice Chairman, Suzlon Group, said, The partnership is a bold step towards a low carbon future of the steel industry by leveraging wind power, as per a PTI report. Pune-based Suzlon Group is one of the leading renewable energy solutions providers in the world with20.8 GW of wind energy capacity installed across 17 countries, according to a PTI report.
Oct 10, 2024, 1:44 pm IST
Srestha Finvest Shares Hit Upper Circuit On Rs.100 Cr Fundraising Via QIP
Srestha Finvest shares got an impressive response on Thursday's session on the early deals as the stock opened the day at a 5% upper circuit limit at Rs 0.89 per share. The Board of Directors announced fundraising deals on October 09, 2024, and the penny stock under Rs 1 that has rocketed 39.06% YTD would be the focus of the upcoming sessions.
The Board of Directors of Srestha Finvest considered and approved the raising of funds by way of issuance of such number of equity shares having a face value of Re.1/- each of the company, for an aggregate amount not exceeding Rs.100 Crores by way of Qualified Institutional Placement (QIP).
Tata Consultancy Services (TCS) has cancelled a press conference scheduled on Thursday evening to announce its second quarter performance, company officials said. The press conference was originally scheduled at 1730 hours on Thursday. As originally scheduled, TCS will inform the exchanges about its July-September performance after the board meeting, the officials said. A scheduled call with analysts at 7 pm will be held as per schedule, they said. The last rites of Ratan Tata, who passed away late on Wednesday evening, are scheduled to take place after 4 pm at central Mumbai's Worli on Thursday. Tata breathed his last on Wednesday evening at a city hospital, according to the PTI report.
Oct 10, 2024, 12:54 pm IST
Tata Group Stocks Rise Up To 10%
Shares of Tata Group companies on Thursday rose up to 10 per cent, with Tata Chemicals and Tata Teleservices among the major gainers. Tata Sons Chairman Emeritus Ratan Tata, who played a key role in transforming the group into a global conglomerate, passed away late on Wednesday. He was 86. "Investors can pay tribute to Ratan Tata and the great corporate empire he built by buying stocks like TCS, Tata Motors, Tata Steel, Tata Consumer and Indian Hotels. "Ratan Tata, while pursuing the group's growth, contributed substantially to India’s growth and millions of ordinary investors gained from the great man's vision," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
The stock of Tata Investment Corporation soared 10.47 per cent to trade at Rs 7,235.80 apiece, Tata Chemicals climbed 6.26 per cent to Rs 1,174.85, Tata Teleservices Maharashtra jumped 5.84 per cent to Rs 83.77, Tata Elxsi rose 3.37 per cent to Rs 7,867.80, Tata Power went up 2.56 per cent to Rs 472.70 on the BSE, according to a PTI report
Oct 10, 2024, 12:27 pm IST
Gold Prices Fall For 2nd Day In India: Check Latest 18k, 22k, 24k Yellow Metal Prices
Gold prices in India recorded fall for second consecutive day on October 10, 2024 as investors are expecting crucial inflation print to be released later today for more clarity on Federal Reserve’s monetary policy stance. Silver prices in India today stayed unchanged. 22k gold prices today declined by Rs 50 to Rs 70,250/10 grams and 100 grams of 22 carat precious metal prices today slipped by Rs 500 to settle at Rs 7,02,500 in India on Thursday. 24k gold price today fell by Rs 50 as well to trade at Rs 76,640/10 grams and 100 grams of 24 carat precious metal prices today dipped by Rs 500 to Rs 7,66,400.
18k gold prices today turned cheaper by Rs 40 today to Rs 57,480/10 grams and 100 grams of 18 carat precious metal prices today fell by Rs 400 to Rs 5,74,800.
On factors that led to decline in gold prices in India for last 2-days, Renisha Chainani, Head Research - Augmont - Gold For All stated, “the September FOMC meeting minutes showed that most members favoured a 50 bps rate cut because they believed inflation would eventually approach the 2% target. The US Dollar rose to a nearly two-month high due to the widespread agreement that the excessive rate decrease would not bind the Federal Reserve to any particular pace for any reductions.”
Oct 10, 2024, 11:41 am IST
SpiceJet Shares Rally
The airline stock jumped by 3.2% to trade at Rs 67.84 apiece on BSE. The stock has rallied to hit an intraday high of Rs 68.98 apiece. The stock surged amidst the airliner's announcement of commencing new UDAN flights connecting Shivamogga in Karnataka with Chennai and Hyderabad, starting from October 10, 2024. This launch marks Shivamogga’s addition as a new station on SpiceJet’s domestic network and is the airline’s first new destination following its successful INR 3,000 Crore Qualified Institutional Placement (QIP), which has bolstered the airline’s expansion and growth plans.
Oct 10, 2024, 11:38 am IST
Tata Elxsi Share Ahead Of Q2
Tata Group's midcap tech stock jumped by nearly 3% to trade at Rs 7805 apiece. The stock has touched an intraday high of Rs 8025 apiece. HDFC Securities estimates Tata Elxsi's revenue to come to around Rs 952.99 crore in Q2FY25, registering growth of 8% YoY and 2.8% QoQ. In dollar terms, revenue is seen at 4 million, up by 6.6% YoY and 2.4% QoQ.
Oct 10, 2024, 10:56 am IST
JSW Steel Stock Jumped After Q2 Update
The steel stock gained by over 1% after Q2FY25 update. In Q2FY25, as per provisional data, JSW Steel posted consolidated production growth of 7% YoY, while volumes are up 6% YoY and 7% QoQ. Further, the company's India business production surged by 7% YoY and 9% QoQ.
Oct 10, 2024, 10:32 am IST
TCS Share Price Ahead Of Q2
At the time of writing, TCS share price is up by nearly 0.7% to trade at Rs 4,281 per share on BSE, with market cap at Rs 15,48,903.27 crore. The stock jumped nearly a per cent and touched an intraday high of Rs 4290.20 apiece in the early trade. TCS is expected to report better EBIT margins and deal wins.
Oct 10, 2024, 9:24 am IST
Market Opens Strong, Sensex & Nifty Gain
Buoyed by positive global cues, Indian markets opened higher on October 10, with Nifty surpassing 25,000. The Sensex rose by 224.79 points or 0.28% to 81,691.89, while the Nifty climbed 79.50 points or 0.32% to 25,061.50. Out of all stocks, 1,763 shares advanced, 491 declined, and 125 remained unchanged. Hindalco, L&T, NTPC, Bharat Electronics, and JSW Steel were top Nifty gainers, while Tata Motors, Adani Enterprises, HUL, Apollo Hospitals, and Infosys saw declines.
Oct 10, 2024, 9:09 am IST
Rupee Starts Slightly Higher Against The Dollar
The Indian Rupee opened slightly stronger at 83.94 per US Dollar on Wednesday, compared to its previous close of 83.96 on Tuesday.
Oct 10, 2024, 8:37 am IST
TCS Q2 Results Ahead
Tata Consultancy Services (TCS) is likely to witness tailwinds in its constant currency revenue growth to between 0.9% to 1.7%, in the second quarter of FY25. While the behemoth's EBIT is expected to expand further. TCS is going to announce its Q2FY25 results on October 10, kickstarting the latest earning season. Apart from the earnings report, TCS will also announce its second interim dividend.
Oct 10, 2024, 8:36 am IST
All Tata Stocks In Focus
Ratan Tata, the man who needs no introduction, a priceless gem of India and the titan of the country's business world, dies at the age of 86, in late hours of Wednesday, October 9, 2024. The chairman emeritus of Tata Sons, passed away in a hospital in Mumbai where he was receiving critical treatment. Following his death, all Tata Group stocks will be in focus on Thursday, October 10, 2024.
Oct 10, 2024, 8:35 am IST
Tata Elxsi In Focus
Tata Elxsi is all to declare its second quarterly earnings for FY25, on October 10, alongside Tata Consultancy Services (TCS) earnings as well. In the second quarter, Tata Elxsi's earnings are expected to be a mixed bag. Ahead of the results, brokerage HDFC Securities recommended a REDUCE rating on Tata Elxsi's share price.
Oct 10, 2024, 8:34 am IST
Market In Previous Session
The Sensex dropped 168 points to close at 81,467, while the Nifty shed 31 points to end at 24,982. Broader markets, however, saw strong performance with the BSE Midcap index rising by 587 points to close at 59,123, reflecting a 1% gain. The NSE advance-decline ratio remained positive at 2:1, indicating that the majority of stocks traded in the green despite the underperformance of the benchmarks.
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