Market Close Highlights, Oct 17: Sensex sheds 495 pts, Nifty ends below 24,750; Auto drags, IT leads

Stock Market Today: Notably, Bajaj Auto settled down by as much as 13.11 per cent, while the Nifty Auto index plunged 3.54 per cent on Thursday

12:29 PM

Stock Market LIVE Updates: Jagsonpal Pharma up 7% as co to consider Q2 results, stock-split on Oct 23

Stock Market LIVE Updates: Shares of Jagsonpal Pharmaceuticals Limited (JPL) were in demand on Thursday, October 17, 2024, as the scrip rallied up to 6.59 per cent to hit an intraday high of Rs 479.25 per share. 

The uptick in Jagsonpal Pharma share price came after the company announced that its board of directors will meet on October 23 to consider and approve financial results of the company for the quarter and half year ended September 30, 2024 and proposal for sub-division/split of existing equity shares of the company. READ MORE

 

12:13 PM

Stock Market LIVE Updates: This smallcap stock surged 10% for 2nd straight day; zoomed 186% in 1 year

Stock Market LIVE Updates: Shares of Hind Rectifiers hit a new high of Rs 1,068.85, as the scrip rallied 10 per cent on the BSE in Thursday’s intra-day trade, extending its Wednesday’s 10 per cent surge in otherwise a weak market. READ MORE

12:05 PM

Stock Market LIVE Updates: Nestle to restructure after it misses nine-month organic sales forecast

Stock Market LIVE Updates: Nestle announced it is revamping senior leadership and its operating structure, cut its full-year sales outlook and reported worse-than-expected nine-month organic sales growth, after failing to raise volumes amid continued price hikes.

 

 The Swiss company said on Thursday it expects 2024 organic sales growth to be around 2 per cent and an underlying trading operating profit (UTOP) margin of about 17 per cent for the year. READ MORE

 

12:02 PM

Stock Market LIVE Updates: 12 PM market update - Sensex, Nifty extend loses

Stock Market LIVE Updates: Benchmark Indian equity indices were trading lower on Thursday, amid a wider sell-off across sectors, led by a decline in auto, bank and financial services stocks, among others.

At 12 PM, the BSE Sensex was down by 461 points, or 0.57 per cent, at 81,040, and the Nifty 50 was at 24,780, down 190 points, or 0.76 per cent.

 

11:57 AM

Stock Market LIVE Updates: Patel Engg ties up with Ircon to explore domestic and int'l biz opportunities

Stock Market LIVE Updates: Patel Engineering today annoucned that it has signed a Memorandum of Understanding (MoU) with Ircon International to explore domestic and international business opportunities.

 

The company, in an exchange filing, said, "This is to inform that the Company has signed a Memorandum of Understanding (MOU) with Ircon International Limited on 16th October, 2024 for collaboration and co-operation with each other to explore, identify, pursue and jointly execute mutually beneficial business opportunities in various infrastructure projects in India and overseas."

11:48 AM

Stock Market LIVE Updates: Railway stocks in focus; RVNL, IRFC, IRCON, Titagarh Rail zoom up to 7%

Stock Market LIVE Updates: Shares of railway-related sectors surged as much as 7.27 per cent on the BSE during Thursday's intra-day trade, despite an otherwise weak market sentiment.

 

Indian Railway Finance Corporation (IRFC), IRCON International, RITES, Rail Vikas Nigam (RVNL), and Titagarh Rail Systems (TRSL) saw gains ranging from 2.45 per cent to 7.27 per cent. In comparison, the BSE Sensex was down 0.51 per cent at 81,083.05 around 11:18 AM. READ MORE

 

11:41 AM

Stock Market LIVE Updates: IT company Mphasis's Q2 net profit rises 8% Y-o-Y, deal value falls

Stock Market LIVE Updates: Mphasis, the midcap information technology company, on Thursday reported a net profit of Rs 423.3 crore for the second quarter of the financial year (Q2 FY25), growing 8 per cent year-on-year (Y-o-Y). Sequentially, profit was up 4.7 per cent.

 

Revenue in Q2 FY25 came in at Rs 3,536 crore up, rising 7.9 per cent Y-o-Y and 3.3 per cent quarter on quarter (Q-o-Q). READ MORE

 

11:29 AM

Stock Market LIVE Updates: IT company Mphasis's Q2 net profit rises 8% Y-o-Y, deal value falls

Stock Market LIVE Updates: Mphasis, the midcap information technology company, on Thursday reported a net profit of Rs 423.3 crore for the second quarter of the financial year (Q2 FY25), growing 8 per cent year-on-year (Y-o-Y). Sequentially, profit was up 4.7 per cent.

 

Revenue in Q2 FY25 came in at Rs 3,536 crore up, rising 7.9 per cent Y-o-Y and 3.3 per cent quarter on quarter (Q-o-Q). READ MORE

 

11:14 AM

Stock Market LIVE Updates: Bajaj Auto, TVS, Hero slip up to 11% on below expectation festive demand

Stock Market LIVE Updates: Shares of automobiles companies, mainly two-wheelers, are under pressure, having fallen by up to 11 per cent on profit booking as the festive season has started on a weak note for them. Demand during the current festive season is a tad below expectations, with the industry pegged to clock growth of around 3-5 per cent in sales volumes compared to the earlier expectation of a 5-8 per cent YoY growth. READ MORE

 

11:01 AM

Stock Market LIVE Updates: 11 AM market update - Sensex, Nifty extend loses

Stock Market LIVE Updates: Benchmark Indian equity indices were trading lower on Thursday, amid a wider sell-off across sectors.

At 11 AM, the BSE Sensex was down by 335 points, or 0.42 per cent, at 81,162, and the Nifty 50 was at 24,822, down 148 points, or 0.59 per cent.

 

10:58 AM

Stock Market LIVE Updates: Muthoot Finance board approves contours of $400 mn fundraise under GMTN Programme

Stock Market LIVE Updates: Muthoot Finance today informed that its board of directors has approved the details of its planned $400 million fundraise under a Global Medium-Term Note (GMTN) Programme.

The company, in an exchange filing, said, "We wish to inform you that the Finance Committee of the Board of Directors of Muthoot Finance Limited at its meeting held on October 16, 2024 has approved the pricing, tenure and other terms of the Notes under the GMTN Programme." 

The company added that the proceeds of the Notes will be used by the company for onward lending activities as may be permitted.

Details of the issue are as follows:

Avg Maturity – 4 Years

Date of Allotment – 23 October 2024*

Dates of Maturity: 23 April 2029

1st amortization payment – 23 April 2028

2nd amortization payment – 23July 2028

3rd amortization payment – 23 October 2028

4th amortization payment – 23 January 2029

5th and Balance principal payment – 23 April 2029

 

Avg Maturity – 4 Years

Date of Allotment – 23 October 2024*

Dates of Maturity: 23 April 2029

1st amortization payment – 23 April 2028

2nd amortization payment – 23July 2028

3rd amortization payment – 23 October 2028

4th amortization payment – 23 January 2029

5th and Balance principal payment – 23 April 2029

10:48 AM

Stock Market LIVE Updates: JSW Energy arm signs PPA with GUVNL for 192 MW wind-solar hybrid capacity

Stock Market LIVE Updates: JSW Renew Energy Seventeen Limited, a step-down subsidiary of the Company, has signed a Power Purchase Agreement for a STU-connected 192 MW Wind-Solar Hybrid capacity with Gujarat Urja Vikas Nigam Limited. 

JSW Energy today announced that its step down subsidiary JSW Renew Energy Seventeen, has signed a Power Purchase Agreement with Gujarat Urja Vikas Nigam Limited (GUVNL) for a state transmission utility (STU)-connected 192 MW Wind-Solar Hybrid capacity. This marks the company’s first PPA for a wind-solar hybrid capacity.

The company, in an exchange filing, said, "The PPA is signed for supply of power for a period of 25 years with a tariff of Rs 3.27/kWh. The project is expected to be commissioned within 24 months and will be connected to the STU in Gujarat. The company currently has a project pipeline capacity of 8.3 GW with PPA signed for 3.2 GW."

 

10:43 AM

Stock Market LIVE Updates: L&T wins 'Significant' order to build fertiliser plant for Rashtriya Chemicals

Stock Market LIVE Updates: Larsen & Toubro today announced that its hydrocarbon business has secured a 'Significant' order under its AdVENT Business Vertical from a Government of India undertaking with Navratna status and a leading fertilisers and chemicals manufacturing company in India.

The company classifies a 'Significant' order as one with a value between Rs 1,000 and Rs 2,500 crore.

The company, in an exchange filing, said, "The project involves the License, Engineering, Procurement, and Construction (L-EPC) of a 1,200 MTPD (DAP basis) NPK fertiliser plant along with associated utilities and off-site facilities for Rashtriya Chemicals and Fertilizers Limited (RCF) at their Thal unit in Raigad district, approximately 100 km from Mumbai."

 

10:36 AM

Stock Market LIVE Updates: Ircon International shares gain 4% on inking MoU with Patel Engineering

Stock Market LIVE Updates: Ircon International shares were buzzing in trade on Thursday, October 17, 2024. The shares rose up to 3.58 per cent to hit an intraday high of Rs 231.35 per share. 

 

The uptick in Ircon International share price came after the company announced that it has inked a memorandum of understanding (MoU) with Patel Engineering for collaboration and co-operation with each other to explore, identify, pursue and jointly execute mutually beneficial business opportunities in various infrastructure projects in India and Overseas. READ MORE

 

10:36 AM

Stock Market LIVE Updates: Kolte-Patil Developers rallies 12% on heavy volumes post Q2 business update

Stock Market LIVE Updates: Shares of Kolte-Patil Developers (KPDL) rallied 12 per cent to Rs 439.85 on the BSE in Thursday’s intra-day trade after the company said it achieved its highest-ever quarterly sales value of Rs 770 crore during September quarter (Q2FY25), showing an 8 per cent increase quarter-on-quarter (Q-o-Q) and a 22 per cent increase year-on-year (Y-o-Y). 

 

The company reported collections of Rs 550 crore for the quarter, down 10 per cent Q-o-Q but up 16 per cent Y-o-Y, driven by robust sales and consistent and timely execution of projects.  READ MORE