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

SI Reporter New Delhi

Stock Market, BSE, NSE, Nifty, Capital, Market

Among the sectoral indices, the Nifty IT index bucked the trend, ending 1.19 per cent higher.

10:35 AM

Stock Market LIVE Updates: Bajaj Auto tanks 11% after Q2; analysts cautious on margin, export outlook

Stock Market LIVE Updates: Bajaj Auto shares plummeted as much as 10.65 per cent to hit intraday low of Rs 10,380 per share on Thursday, October 17, 2024. The decline followed a mixed response from both domestic and international brokerages, despite the company delivering strong results in the September quarter (Q2FY25).

Analysts at Emkay said that the results were slightly disappointing due to lower average selling prices (ASPs). They noted that the company's two-wheeler retail growth has been modest, with a year-to-date increase of 6.7 per cent and a September-October growth rate of just 5.7 per cent. READ MORE

10:34 AM

Stock Market LIVE Updates: RVNL jumps over 7% on emerging lowest bidder for project worth Rs 271 crore

Stock Market LIVE Updates: Rail Vikas Nigam Limited (RVNL) shares were in demand on Thursday, October 17, 2024 as the scrip soared up to 7.27 per cent to hit an intraday high of Rs 514.40 per share.

RVNL share price rose after the company announced that it has emerged as the lowest bidder (L-!) for a project worth Rs 270.78 crore from Maharashtra Metro Rail Corporation Limited. READ MORE

10:33 AM

Stock Market LIVE Updates: SRF slips 4% as UBS downgrades to 'Sell' from 'Buy'; sees downside of 22%

Stock Market LIVE Updates: SRF share price slipped 4 per cent and registered an intraday low of Rs 830 per share on BSE on Thursday. The stock declined after global brokerage UBS downgraded the stock from 'Buy' to 'Sell'. The global brokerage has also lowered the target price from Rs 2,700 to Rs 2,100 per share.

"Our target price on SRF would trade close to its five-year-average Price to Earnings (P/E) on FY26E EPS as against the current 20 per cent premium," the report read. READ MORE

10:12 AM

Stock Market LIVE Updates: City gas distribution cos could hike prices after reduction in APM allocation

Stock Market LIVE Updates: City Gas Distribution companies could increase prices, as they face increased costs following reduced allocation of domestic Administered Price Mechanism (APM) gas.

The governmetn has decreased the allocation of domestic APM gas by around 17 to 20 per cent, according to NDTV Profit.

This in turn could increase the operational costs for CGD companies including Indraprastha Gas, Mahanagar Gas and Gujarat Gas.

10:02 AM

Stock Market LIVE Updates: 10 AM market update - Sensex, Nifty drop into red zone

Stock Market LIVE Updates: Benchmark Indian equity indices were trading lower on Thursday.

At 10 AM, the BSE Sensex was down by 300 points, or 0.37 per cent, at 81,199, and the Nifty 50 was at 24,838, down 133 points, or 0.53 per cent.

9:55 AM

Stock Market LIVE Updates: Concor shares down as analysts pare co's volume growth estimates

Stock Market LIVE Updates: Container Corporation of India’s stock has seen a 15 per cent decline since August due to weak demand and increased competition. Analysts are lowering their volume growth estimates for FY25, citing challenges in the exim segment and government directives affecting handling charges.

9:53 AM

Stock Market LIVE Updates: Titagarh Rail gains 2% as Morgan Stanley acquires 0.57 per cent stake in the co

Stock Market LIVE Updates: Morgan Stanley has purchased over Rs 85 crore worth of shares in Titagarh Rail Systems, acquiring a 0.57 per cent stake. Conversely, Capital Group has sold more than 7.90 lakh shares in the same company.

9:50 AM

Stock Market LIVE Updates: Himadri Specialty Chemical down over 2% after reporting Q2 results

Stock Market LIVE Updates: Himadri Specialty Chemical reported a 33 per cent year-on-year increase in net profit to Rs 134 crore for Q2 FY25, fueled by higher margins. The company's revenue grew by 13 per cent to Rs 1,135 crore, and it highlighted successful export milestones.

9:47 AM

Stock Market LIVE Updates: Reliance Industries marginally up after announcing record date for bonus issue

Stock Market LIVE Updates: Reliance Industries has fixed Monday, October 28, 2024, as the record date to determine the list of shareholders eligible for the issue of 1:1 bonus shares. RIL, in an exchange filing, said that it has received shareholders' approval for increasing its authorised share capital following the bonus issue.

9:44 AM

Stock Market LIVE Updates: BSE extends loses after yesterday's 5% fall following Jefferies' downgrade

Stock Market LIVE Updates: BSE shares fell over 5 per cent after Jefferies downgraded its rating to 'underperform' amid concerns about new regulatory norms affecting futures and options trading. Jefferies has set a price target of Rs 3,500 per share, down from the current price of Rs 4,495.

9:40 AM

Stock Market LIVE Updates: CRISIL climbs over 7% after 13% YoY increase in Q3 net profit

Stock Market LIVE Updates: CRISIL saw a 12.86 per cent year-on-year rise in net profit to Rs 171.55 crore for Q3 2024. Its total income increased by 7.9 per cent to Rs 833.2 crore. The board declared an interim dividend of Rs 15 per share, compared to Rs 11 in the same quarter last year.

9:28 AM

Stock Market LIVE Updates: Bajaj Auto slips 7.5% as it posts 31% decline in Q2 cons net profit at Rs 1,385 cr

Stock Market LIVE Updates: Bajaj Auto reported a 31.4 per cent decline in consolidated net profit to Rs 1,385.44 crore for Q2 FY25, impacted by a one-time deferred tax payment. However, revenue from operations grew by 22.2 per cent to Rs 13,247.28 crore, driven by robust vehicle sales and recovering exports. The company's Ebitda reached a record Rs 2,653 crore, reflecting a 24 per cent year-on-year growth. THe company missed consensus estimates for profit and revenue for the quarter.

9:25 AM

Stock Market LIVE Updates: Auto index slips 2.5%, led by Bajaj Auto

Stock Market LIVE Updates: The Nifty Auto index was down 2.5 per cent, with Bajaj Auto shares leading the loses on the index. IT was down 7.5 per cent.

The compan had reported a 31.4 per cent decline in consolidated net profit in Q2FY25 at Rs 1,385 crore.

Following Bajaj Auto shares lower were Hero MotoCorp, TVS Motors, and Mahindra & Mahindra.