Stock Market Highlights: Sensex holds 80k, ends 100 pts down; Ratings downgrade jolt Adani shares

Stock Market Close Highlights: The NSE Nifty 50 index slipped below 24,200; Small-cap stocks outperformed the broader market, with the Nifty Smallcap100 closing 0.8 per cent higher on Tuesday.

2:21 PM

Stock Market LIVE Updates: AstraZeneca Pharma shares up on CDSCO nod for cancer drug Lynparza

AstraZeneca share price:Shares of pharmaceutical major AstraZeneca Pharma inched up to 1.98 per cent to hit an intraday high of Rs 6,583.65 per share on Tuesday, November 26, 2024.

 

The rise in AstraZeneca Pharma share price came after the company announced that it has secured permission to import for sale and distribution in Form CT-20 from the Central Drugs Standard Control Organisation (CDSCO), Directorate General of Health Services, Government of India for the additional indication of Olaparib film-coated Tablets 100 mg & 150 mg (Lynparza).  Read more

 

2:10 PM

Stock Market LIVE Updates: This pharma stock listed in July has rallied 10% in trade; Check details

Emcure Pharmaceuticals shares gained 9.9 per cent in Tuesday's trade on positive outlook and logged an intraday high at Rs 1,440.9 per share on BSE. 

 

Around 1:55 PM, Emcure share price was up 5.8 per cent at Rs 1,387.05 per share on BSE. In comparison, the BSE Sensex was down 0.24 per cent at 79,914.82. The market capitalisation of the company stood at Rs 26,228.89 crore. 

 

Emcure Pharmaceuticals reported a 38.2 per cent year-on-year (Y-o-Y) increase in net profit for the quarter ending September 30, 2024, reaching Rs. 202 crore, compared to Rs. 145.8 crore in the same period last year. The company’s revenue grew by 20.4 per cent Y-o-Y, rising to Rs. 2,002 crore from Rs. 1,663 crore in Q2 of the previous fiscal year. Read more

2:00 PM

Stock Market LIVE Updates: 2 PM market update -- Benchmarks marginally lower

At 2 PM, the BSE Sensex was trading at 80,022.11, down 87.74 points or 0.11 per cent, while the NSE's Nifty50 stood at 24,186.40, down 35.50 points or 0.15 per cent. 

1:54 PM

Stock Market LIVE Updates: Shriram Finance, Britannia Industries lead the gains

Stock Market LIVE Updates: Shriram Finance, Britannia Industries, Asian Paints, BEL, and Infosys were leading the gains among the NSE Nifty50 constituents, while Adani Enterprises, Adani Ports, UltraTech Cement, Bajaj Auto, and Mahindra & Mahindra were among the top laggards.

1:43 PM

Stock Market LIVE Updates: Suraksha Diagnostic IPO opens on Nov 29: Check GMP, dates & other details

Stock Market LIVE Updates: Suraksha Clinic and Diagnostic, a provider of pathology, radiology testing, and medical consultancy services, is gearing up for its initial public offering (IPO), set to open for public subscription on Friday, November 29, 2024. According to the company's red herring prospectus (RHP), bidding for anchor investors will precede this, commencing on Thursday, November 28, 2024. READ MORE

1:35 PM

Stock Market LIVE Updates: Triveni Turbine hits new high, up 16% amid heavy volumes on healthy outlook

Stock Market LIVE Updates: Shares of Triveni Turbine hit a record high of Rs 885, as they soared 16 per cent on the BSE in Tuesdays’ intra-day trade amid heavy volumes on a healthy outlook. The stock surpassed its previous high of Rs 842.55 touched on August 14, 2024. In the past nine trading days, the stock has zoomed 44 per cent. READ MORE

 

 

1:27 PM

Stock Market LIVE Updates: Saregama rises 5% on acquiring controlling stakes in its arm Pocket Aces

Stock Market LIVE Updates: Saregama India shares gained 5.2 per cent in Tuesday's trade and logged an intraday high at Rs 499.5 per share on BSE. In comparison, the BSE Sensex was down 0.20 per cent at 79,945.89. The market capitalisation of the company stood at Rs 9,495.87 crore. READ MORE

 

1:13 PM

Stock Market LIVE Updates: Geojit on Symphony

Symphony delivered a strong Q2FY25 financial results, driven by its robust domestic sales growth, solid brand value, and diversified product portfolio. Symphony’s recent launch of 17 air cooler models and expansion into the water heater market are expected to boost demand and sales performance, while its focus on environmentally conscious solutions and innovative products should drive long-term growth. Management expressed confidence in future growth, projecting a double-digit CAGR in India, fuelled by market expansion and advancements in product innovation.

Despite recent share buybacks and elevated valuation, we believe the stock offers value at current levels. Hence, we upgrade our rating on the stock from Reduce to Accumulate with a revised target price of Rs.1,519, based on 37x FY26E adjusted EPS.

 

1:04 PM

Stock Market LIVE Updates: Sensex trades below 80k, Nifty below 24,200

Stock Market LIVE Updates: The BSE Sensex was quoted trading at 79,916.38, down 193.47 points or 0.24 per cent, while the NSE Nifty50 was seen at 24,172.05, down 49.85 points or 0.21 per cent.

12:58 PM

Stock Market LIVE Updates: ACME Solar slips 7% on posting weak Q2 results; PAT down 60% YoY

Stock Market LIVE Updates: Newly listed ACME Solar Holdings shares declined 7.4 per cent in Tuesday's trade and logged an intraday low at Rs 239 per share on BSE. In comparison, the BSE Sensex was down 0.30 per cent at 79,869.66. The market capitalisation of the company stood at Rs 15,081.81 crore.  READ MORE

 

12:52 PM

Stock Market LIVE Updates: Defence shares extend rally after NDA alliance victory in Maha; GRSE up 10%

Stock Market LIVE Updates: Shares of defence and related companies have continued to trade higher for the second consecutive day following the decisive victory of the ruling National Democratic Alliance (NDA) in Maharashtra. The political stability is expected to bolster the Government of India’s (GOI) capital expenditure momentum, leading to improved order inflows across key sectors such as railways and defense. READ MORE

 

12:41 PM

Stock Market LIVE Updates: L&T Finance forges strategic partnership with Amazon Finance India

Stock Market LIVE Updates: L&T Finance (LTF) has announced a strategic partnership with Amazon Finance India to develop innovative credit solutions aimed at enhancing affordability for Amazon's eligible customers and merchants. "The fintech partnership was announced at India's premier Artificial Intelligence (AI)-themed event in the Banking, Financial Services, and Insurance (BFSI) sector, 'RAISE 2024', organised by LTF in Mumbai. This partnership will enhance LTF's product diversification strategy and improve credit availability for consumers in a fast and seamless manner," the company said in a release.

12:32 PM

Stock Market LIVE Updates: Sagility India gains 10% on reporting 236% rise in PAT; revenue up 21%

Stock Market LIVE Updates: Recently listed Sagility India shares gained 9.9 per cent in Tuesday's trade and logged an intraday high at Rs 31.44 per share on BSE. In comparison, the BSE Sensex was down 0.03 per cent at 80,083.03. The market capitalisation of the company stood at Rs 14,535.52 crore. The counter saw buying after the company reported healthy Q2FY25 numbers. READ MORE

 

12:24 PM

Stock Market LIVE Updates: LT Foods expands presence in Saudi Arabia's $2 bn rice market; stock up 5%

Stock Market LIVE Updates:  LT Foods shares price rose up to 5.57 per cent at Rs 375 on the BSE in Tuesday’s intraday trade. LT Foods stock has corrected 16 per cent from its 52-week high of Rs 447.95 reached on September 9, 2024, while soaring 134 per cent above its 52-week low of Rs 160.05  touched on March 14, 2024. READ MORE

 

12:13 PM

Stock Market LIVE Updates: Anand Rathi Research on Astral

Balance sheet continues to be lean (Rs 2.7bn cash surplus, down 50% due to capex). Management expects 10-15%/15% volume/revenue growth in plumbing/paints & adhesives in FY25. 

 

Adhesive margin guidance: India 15%, overseas 8-10%; overall capex guidance: Rs1bn. We expect strong 18%/22%/24% revenue/EBITDA/PAT CAGRs over FY24-27; hence, upgrade the stock to a Buy with a target price of Rs2,666, 68.75x FY27e EPS (earlier a Hold, at a Rs1,793 TP, 62.5x FY25e).

 

Risks: Keener competition, raw material availability and pricing.

Astral