Category: Business & Economy

On Monday, several stocks reached new highs on the NSE (National Stock Exchange). Companies like Atlas Cycles, Univastu India, ARSS Infra, Bharatiya Global Infomedia, and Indo Thai Securities saw their share prices hit 52-week highs. Meanwhile, the Nifty index fell by 345.55 points, closing at 23,085.95 due to heavy selling of big companies.

While four stocks in the Nifty50 index went up in value, 46 stocks went down. Some of the biggest gainers included Axis Bank, TCS, IndusInd Bank, HUL, and RIL. On the other hand, stocks like Adani Enterprises, Trent, BPCL, BEL, and Adani Ports SEZ dropped in value.

The BSE Sensex also fell, closing down by 1,048.9 points at 76,330.01. Traders showed interest in sectors like General, IT Services, Auto, and Software, while sectors like Defence, Packaging, Textiles, and Electronics faced selling pressure during the day.

New Delhi: On Monday, shares in the power sector didn’t do well, with many falling sharply. Some of the biggest losers included Jyoti Structures Ltd. (down 7.88%), Indowind Energy Ltd. (down 6.90%), and Adani Power Ltd. (down 6.72%). Other companies like India Power Corporation Ltd. and SJVN Ltd. also saw big drops. Overall, the NSE Nifty50 index fell by 345.55 points to finish at 23085.95, while the BSE Sensex lost 1048.9 points, ending at 76330.01.

Despite the bad news in power stocks, a few companies made gains. Axis Bank Ltd. increased by 0.83%, Tata Consultancy Services Ltd. went up by 0.6%, IndusInd Bank Ltd. rose by 0.44%, and Hindustan Unilever Ltd. added 0.37% to their value.

On the flip side, other companies like Adani Enterprises Ltd. (down 6.29%) and Bharat Petroleum Corporation Ltd. (down 4.45%) also saw declines. The overall market ended in the red, but a few banks and companies managed to stay afloat.

GSK, a British pharmaceutical company, announced on Monday that it will spend up to $1.15 billion to buy IDRx, which is based in Boston. IDRx is a biotech company that is working on a new treatment for a rare type of tumor called gastrointestinal stromal tumors (GIST).

The deal includes an immediate payment of $1 billion and will help GSK grow its collection of treatments for cancers in the stomach area. GSK has been facing challenges with its vaccine business but is now focusing more on cancer treatments.

According to Luke Miels, GSK’s Chief Commercial Officer, this purchase aligns with their strategy to acquire projects that target important health needs, even when similar products are already available.

NEW DELHI: On Monday at around 11:20 AM IST, the Nifty Pharma index was feeling a bit weak in a tough market. Biocon Ltd. saw a little boost, going up by 2.68%, while Divi’s Laboratories Ltd. also made gains, rising by 0.94%. On the flip side, Mankind Pharma Ltd. dropped by 5.1%, Gland Pharma Ltd. fell by 5.07%, and Ajanta Pharma Ltd. decreased by 4.37%. Other companies like Zydus Lifesciences Ltd. and Lupin Ltd. also faced losses, down by 2.75% and 1.86%, respectively. At that time, the Nifty Pharma index was at 22,088.10, down by 1.31%.

The broader NSE Nifty50 index fell by 158.1 points to reach 23,273.4, while the BSE Sensex dropped 421.14 points to stand at 76,957.77. Out of 50 stocks in the Nifty index, only 6 were doing well, while 44 were struggling. Among the most traded stocks on the NSE were Vodafone Idea, Suzlon Energy, YES Bank, IREDA, and Zomato.

Some stocks saw huge changes, with Atlas Cycles, Univastu India, IRIS Business Services, ARSS Infra, and Bharatiya Global Infomedia hitting their fresh 52-week highs. Unfortunately, some companies like Khandwala Sec, Adani Wilmar, Indo Farm Equipment, GTPL Hathway, and Bharat Wire Ropes faced fresh 52-week lows in today’s trading.

Tata Power Company Ltd. shares went up by 1.37% and were priced at Rs 351.40 around 11:21 AM on Monday. In the last trading day, the stock closed at Rs 356.30. The stock market index, called Sensex, was up by 445.42 points, reaching 76,933.49 at that time. Tata Power shares have gained about 3.72% over the past year, while Sensex increased by 7.82% in the same period.

The highest price for Tata Power in the last year was Rs 494.85, and the lowest was Rs 335.30. Today, 206,138 shares were traded. The company has a price-to-earnings ratio of 29.91, earnings per share (EPS) of 11.72, and a price-to-book value of 3.89.

In the Nifty50 group, 6 stocks are doing well, while 44 are not. As of September 30, 2024, the company’s owners held 46.86% of the shares. Foreign institutional investors (FIIs) and mutual funds (MFs) own 9.15% and 9.13%, respectively.

For the quarter ending on September 30, 2024, Tata Power reported sales of Rs 16,210.80 crore. This is a drop of 7.58% from the previous quarter, but a slight increase of 1.13% from the same quarter last year. The company made a profit of Rs 926.53 crore during this period.

Currently, the MACD indicator shows a bearish trend, suggesting that the stock prices might drop. The MACD helps traders know when to buy or sell stocks. If it drops below a certain line, it’s a sign to sell.

NEW DELHI: Many stocks on the BSE saw big increases on Monday. The main stock market indexes, BSE Sensex and NSE Nifty, had some ups and downs, especially with top company stocks. Two stocks that did really well were J. Taparia Projects, which rose by 12.85%, and Keerthi Industries, up by 10.80%.

Right now, the 30-share Sensex is down by 358.85 points at 77,020.06, and the 50-share Nifty index fell by 117.6 points to 23,313.90. In the Nifty 50 list, 10 stocks went up, while 40 stocks went down. Some companies, like Hilltone Soft & Gases and Atlas Cycles, reached new highs for the year. On the other hand, Adani Wilmar and Silverpoint Infratech hit new lows for the year.

Shares of Marico Ltd. were trading slightly down by 0.04% at Rs 672.55 at 10:25 AM (IST) on Monday. This drop happened even as the BSE’s main index, the Sensex, went up by 407.94 points to reach 76,970.97. Last time, the stock closed at Rs 672.85.

Marico’s shares hit a high of Rs 719.80 and a low of Rs 486.75 over the past year. As of 10:25 AM, 3,444 shares had been traded, earning a total of Rs 0.24 crore. Currently, Marico’s shares are valued at 54.77 times its earnings over the past 12 months, which is Rs 12.26 per share. This high number suggests that investors expect the company to grow in the future.

The price-to-book value of Marico stands at 16.73, indicating what investors are willing to pay for the company’s assets even if there is no growth. The stock’s Beta, a number that shows how much it moves compared to the market, is at 0.7960—meaning it’s less volatile than the average stock.

In terms of ownership, as of September 30, 2024, promoters own 59.2% of the company, foreign institutional investors (FIIs) hold 24.87%, and domestic institutional investors (DIIs) own 4.92%.

Looking at technical analysis, the relative strength index (RSI) of Marico’s stock is at 63.35. The RSI ranges from 0 to 100; if it’s above 70, the stock might be considered overpriced, while below 30 might indicate it’s cheap. However, experts say it’s good to use the RSI along with other tools rather than making decisions based on just one measure.

Avenue Supermarts Ltd., which runs the popular DMart retail chain, has named Anshul Asawa as the new CEO-in-training. He will take over from Ignatius Navil Noronha in February 2026. In the meantime, Noronha will stay in his role, and the company has promoted two other executives.

DMart recently reported a profit of 7.85 billion rupees (about $91 million), which is a 6.5% increase from last year. However, this profit still didn’t meet what experts expected, marking the ninth quarter in a row of disappointing results. DMart’s stock has fallen by 13% in 2024 while the overall market, shown by the NSE Nifty 50 Index, has gone up by about 9%. Investors are worried that online grocery services like Swiggy’s Instamart and Zomato’s BlinkIt are taking away customers.

Founded by stock market trader Radhakishan Damani, DMart is struggling as more stores offer discounts on consumer goods. However, the company noted that this quarter was slightly better than last.

Asawa, who has over 30 years of experience working with Unilever, mainly in Thailand and other parts of Asia, has led teams in different regions. DMart is noticing a big rise in demand for home delivery compared to pick-up points, so they plan to focus more on delivery services. Their online business, DMart Ready, saw sales jump by 21.5% for the nine months ending December 31.

NEW DELHI: On Friday, several companies saw a lot of shares traded. The top traders included Vodafone Idea (32.16 crore shares), YES Bank (10.08 crore shares), Suzlon Energy (6.44 crore shares), Zomato (5.38 crore shares), GTL Infra (4.38 crore shares), ITI Ltd (3.94 crore shares), JP Power (3.92 crore shares), IREDA (3.90 crore shares), Reliance Power (3.77 crore shares), and Vakrangee (3.65 crore shares).

However, the Nifty index fell by 95 points, closing at 23,431.5. The BSE Sensex also dropped by 241.3 points, finishing at 77,378.91. On the downside, Shriram Finance Ltd. (-5.34%), IndusInd Bank Ltd. (-4.42%), Adani Enterprises Ltd. (-4.18%), NTPC Ltd. (-3.78%), and Bharat Electronics Ltd. (-3.65%) were the biggest losers of the day.

NEW DELHI: The Nifty Bank index ended the day on a mixed note. The top gainer was Au Small Finance Bank Ltd., which rose by 0.9%. Unfortunately, some banks had a tough day, with IndusInd Bank falling by 4.42%, Punjab National Bank down 3.33%, IDFC First Bank dropping 3.18%, Canara Bank losing 3.04%, and Bank of Baroda down 2.45%. Overall, the Nifty Bank index dropped by 1.55% to close at 48,734.15.

Meanwhile, the NSE Nifty50 index fell by 95 points to end at 23,431.5, and the BSE Sensex lost 241.3 points, finishing at 77,378.91. Out of the 50 stocks in the Nifty index, only 14 saw increases while 36 went down in value.

Some of the most traded shares on the NSE included Vodafone Idea, YES Bank, Suzlon Energy, Zomato, and ITI Ltd. In today’s trading, shares of Mazda Ltd, Atlas Cycles, IRIS Business Services, Indo Thai Sec, and Power & Instrument reached their highest levels in 52 weeks. However, GTPL Hathway, Jai Corp, Dish TV India, Global Surfaces, and Pritish Nandy saw their stocks drop to new lows in the same time frame.