Stock Market Highlights, Aug 12: Sensex, Nifty end flat amid Hindenburg-led volatility; Ola up 20%

Stock Markets Highlights, Aug 12, 2024: Shares of the Adani Group fell sharply following the Hindenburg Research allegations early trade on Monday. However, Adani Group's shares showed recovery later

2:14 PM

ALERT:: Natco Pharma Q1 net rises 59%; stock jumps 4%

Natco Pharma in an exchange filing today reported a 59 per cent growth in Q1FY25 consolidated net profit at Rs 668.50 crore when compared with Rs 420.30 crore in Q1FY24. Total income grew by 21.6 per cent YoY to Rs 1,410.70 crore from Rs 1,160.20 crore. 

2:05 PM

360 One WAM: Trading strategies in IIFL group stocks post Hindenburg claims

IIFL group stocks such as 360 One WAM, IIFL Finance and IIFL Securities plunged up to 5 per cent in Monday's initial trade, but soon recouped losses. Here are the key levels to track. READ MORE

1:57 PM

ALERT:: GST Council likely to meet in early Sept to discuss medical, health insurance levy

According to CNBC TV-18, GST Council is likely to meet on September 8-9 to discuss levy on medical, health insurance products.

 

1:50 PM

Adani vs Hindenburg row: As Sebi chief accused, here's all you need to know

An 18-month battle between Hindenburg Research and India's Adani Group has taken a fresh turn with the U.S. based short-seller alleging over the weekend that the chief of the country's market regulator has a conflict of interest in the matter. READ MORE

1:41 PM

Here's why Balkrishna Industries slid 10% despite strong Q1 earnings

Balkrishna Industries dipped up to 9.81 per cent at Rs 2,755.50 per share on the BSE in Monday’s intraday trade. The stock price slided as investors resorted to profit booking after the company reported its April-June quarter of financial year 2024-25 (Q1FY25) on Friday. Analysts also hinted at a mixed outlook for the firm ahead of demand headwinds in the tyre manufacturing sector. READ MORE

1:35 PM

ALERT:: Dhanlaxmi Bank posts loss in Q1; stock tumbles 5%

Dhanlaxmi Bank today reported a net loss of Rs 8 crore for the quarter ended June 2024. In comparison, the bank had posted a profit of Rs 28.30 crore in the quarter ended June 2023. Total income declined by 1 per cent YoY to Rs 337.94 crore from Rs 341.40 crore.

1:19 PM

Jubilant FoodWorks surges 8%, hits over 2-year high post Q1 results

Secular trends of young population, rising urbanisation, growing affluence, accelerated shifts towards digitalisation and shift in favor of the organized sector. READ MORE

1:09 PM

'Hindenburg allegations won't stop prevailing bull run in Indian markets'

Things like these, which are either rumours or allegations, at most can impact the market in the short-term; but in the longer-run, Hindenburg's allegations will not stop India's growth story or the prevailing bull-run in the Indian stock market. READ INTERVIEW HERE

12:59 PM

June quarter results :: Navneet Education soars on strong operational growth in Q1

>> Adjusted profit down 15% at Rs 41 cr vs Rs 48 cr YoY

>> Revenue up 83% YoY at Rs 798 cr 

 

>> Ebitda at Rs 220 crore vs Rs 86 crore YoY

 

>> Ebitda margin at 27.6% vs 19.8% YoY
 

12:48 PM

Mid-market update: Sensex, Nifty pare early losses amid Hindenburg-Sebi row

During early trade, shares of the Adani Group fell sharply following the Hindenburg Research allegations. Adani Energy Solutions shares were the top laggards with a fall of 17 per cent, followed by Adani Total Gas at 13 percent, New Delhi Television (NDTV) at 11 per cent, and Adani Power at 11 per cent to Rs 619. Other shares like Adani Ports and Special Economic Zone, Adani Wilmar, ACC, and Ambuja Cements declined between 2 per cent - 7 per cent. However, the company’s shares have shown a strong recovery, with declines now in the range of 1 - 5 per cent. READ MORE

12:41 PM

June quarter results :: Cera Sanitaryware erases gains after weak Q1

>> Net profit falls around 17% YoY to Rs 47 crore 

 

>> Revenue slips 6.5% YoY to Rs 400.7 crore

 

>> Ebitda declines 18% YoY to Rs 58 crore 

>> Margin at 14.4% vs 16.4% YoY
 

12:30 PM

Brokerages raise target for Inox Wind, expect strong execution; stock up 9%

Inox Wind specialises in the manufacture and sale of wind turbine generators (WTGs). It also offers comprehensive services, including erection, procurement, and commissioning (EPC), operations and maintenance (O&M), as well as wind farm development and common infrastructure facilities for WTGs. READ MORE

12:15 PM

Suzlon Energy extends rally, zooms 50% in 1 month on strong Q1 results

Renom is the largest Multi-Brand Operations and Maintenance service (MBOMS) provider in the country with assets of 1,782 MW in Wind, 148 MW in Solar, and 572 MW in BOP under maintenance across customer segments READ MORE

11:58 AM

Analysts wary of Zydus Life's US sales post FY25, valuations; stock down 5%

“Zydus Life has continued to report a positive surprise with its Q1FY25 revenue/Ebitda/PAT beating consensus by 6 per cent, 14 per cent and 10 per cent. Reported Ebitda margin reached a historical high of 33.6 per cent," analysts at Nuvama said.  READ MORE

11:46 AM

Balkrishna Industries falls nearly 6% post Q1 results