Market Close Highlights: Sensex ends 50 pts lower at 79,500; Nifty at 24,150; PSB, Oil drag, IT up
Stock Market Highlights: Benchmark Indian equity indices ended in the red for the second straight session on Friday, weighed most by financial and OMC stocks
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Share Market Today: The BSE Sensex shed 55.47 points or 0.07 per cent to settle at 79,486.32, while the Nifty 50 declined 51.15 points or 0.21 per cent to 24,148.20. (Photo: Bloomberg)
1:12 PM
Stock Market LIVE Updates: Fewer ATMs, more UPI: India's banking sector shifts to digital payments
Stock Market LIVE Updates: Amid record-high cash circulation, banks in India are reportedly reducing the number of Automated Teller Machines and cash recyclers, according to a report by The Times of India. This is due to the growing adoption of digital payments, especially through UPI, alongside a strategic shift towards digital banking. READ MORE
1:11 PM
Stock Market LIVE Updates: Indian banks' microfin loan stress to persist after new regulation: Bankers
Stock Market LIVE Updates: Indian lenders are bracing for another wave of defaults in their microfinance portfolios in the second half of the fiscal year after the banking regulator recently further tightened rules for such loans, four bankers said. READ MORE
1:05 PM
Stock Market LIVE Updates: Here's what to expect from Vedanta in Q2FY25 results
Stock Market LIVE Updates: Mining major Vedanta will announce its financial results for the second quarter of the fiscal year 2025 (Q2FY25) today, November 08, 2024. The September quarter results of Anil Agarwal-backed Vedanta are anticipated to be impacted by a mix of macroeconomic factors and segment-specific performance, according to domestic brokerages. READ MORE
1:04 PM
Stock Market LIVE Updates: Tata Motors Q2 preview: Co's profit may surge up to 49%, Ebitda by 34% YoY
Stock Market LIVE Updates: Automobile manufacturer Tata Motors will announce its September quarter of financial year 2025 (Q2FY25) results today, November 08, 2024. Tata Motors’ performance is anticipated to be a mixed bag, with contrasting trends across its divisions. Brokerages have highlighted a generally flat revenue outlook year-over-year, tempered by muted volume growth but bolstered by an expected expansion in earnings before interest, tax, depreciation and amortisation (Ebitda) margins. READ MORE
1:03 PM
Stock Market LIVE Updates: SBI Q2 results preview: Profit may rise upto 17%, provisions could shoot up
Stock Market LIVE Updates: State Bank of India (SBI) is estimated to report at least a 10-per cent year-on-year (Y-o-Y) rise in net profit for the July-September (Q2) quarter of financial year 2024-25 (FY25). At the most, the profit could rise 17 per cent Y-o-Y, brokerages predicted. Sequentially (quarter-on-quarter), however, SBI Q2 results may be weak due to softness in treasury income, lower recoveries, and muted loan growth, they said. READ MORE
12:55 PM
Stock Market LIVE Updates: Tarmat bags Rs 33.5 crore civil work deal for Mumbai airport
Stock Market LIVE Updates: Tarmat today informed that it has won a deal to strengthen and construct a perimeter road on Airside at the Chhatrapati Shivaji Maharaj International Airport, Mumbai for Rs 33.52 crore.
The company, in an exchange filing, said, "This is to inform you that we have been allotted a Civil Works for Strengthening and Construction of Perimeter Road on Airside at Chhatrapati Shivaji Maharaj International Airport (CSMIA), Mumbai for Rs. 33,52,68,474."
12:45 PM
The company posted consolidated Q2 revenue from operations at Rs 6,881.09 crore, 10 per cent higher year-on-year (YoY) from Rs 6,217.10 crore in the same quarter last year.
The company posted profit before tax at Rs 631.18 crore, down 20 per cent YoY from Rs 790.61 crore in the year ago quarter.
Stock Market LIVE Updates: MRF's consolidated Q2 net profit falls 20% YoY to Rs 470.7 crore
Stock Market LIVE Updates: Tyre maker MRF today reported its September quarter results.
The company posted consolidated Q2 revenue from operations at Rs 6,881.09 crore, 10 per cent higher year-on-year (YoY) from Rs 6,217.10 crore in the same quarter last year.
The company posted profit before tax at Rs 631.18 crore, down 20 per cent YoY from Rs 790.61 crore in the year ago quarter.
MRF's profit for the period also declined nearly 20 per cent to Rs 470.70 crore, from Rs 586.66 crore in the year-ago period.
12:33 PM
The company reported its Asia revenue at 789.2 billion Yen, up 23.9 per cent year-on-year from 765.3 billion Yen in the year ago period.
However, its operating profit for the region declined 4.1 per cent YoY to 79.7 billion Yen in the September quarter, from 83.7 billion Yen in the year-ago period.
The company's margins declined to 10.1 per cent in the September quarter, from 10.9 per cent.
Stock Market LIVE Updates: MSIL's Japanese parent's Sept qtr operating profit in Asia falls 4% to 79.7 bn Yen
Stock Market LIVE Updates: Suzuki Motor Corporation in Japan, the promoter of Maruti Suzuki India, today reported its September quarter results.
The company reported its Asia revenue at 789.2 billion Yen, up 23.9 per cent year-on-year from 765.3 billion Yen in the year ago period.
However, its operating profit for the region declined 4.1 per cent YoY to 79.7 billion Yen in the September quarter, from 83.7 billion Yen in the year-ago period.
The company's margins declined to 10.1 per cent in the September quarter, from 10.9 per cent.
12:22 PM
The company, in an exchange filing, said, "We now write to inform you that the Company has on November 7, 2024 (i.e. the Effective Date as per the Resolution Plan) completed the acquisition of NLRPL by paying/ providing for the payment of the CIRP Costs at actuals, the amount of Rs 273 crore to various creditors in full and final settlement and subscribing to 100% equity share capital of NLRPL for Rs 100,000."
The company added, "Effective November 7, the Interim Committee (that was managing NLRPL from the date the Resolution Plan was approved by Hon’ble NCLT) stands dissolved, and that the Board of Directors of NLRPL stands reconstituted to comprise of the individuals identified by the Company and the management and control of NLRPL has vested in the Company."
Stock Market LIVE Updates: Oberoi Realty completes acquisition of Nirmal Lifestyle Realty for Rs 273 crore
Stock Market LIVE Updates: Oberoi Realty today informed that it has completed the acqusition of Nirmal Lifestyle Realty under the Corporate Insolvency Resolution Process.
The company, in an exchange filing, said, "We now write to inform you that the Company has on November 7, 2024 (i.e. the Effective Date as per the Resolution Plan) completed the acquisition of NLRPL by paying/ providing for the payment of the CIRP Costs at actuals, the amount of Rs 273 crore to various creditors in full and final settlement and subscribing to 100% equity share capital of NLRPL for Rs 100,000."
The company added, "Effective November 7, the Interim Committee (that was managing NLRPL from the date the Resolution Plan was approved by Hon’ble NCLT) stands dissolved, and that the Board of Directors of NLRPL stands reconstituted to comprise of the individuals identified by the Company and the management and control of NLRPL has vested in the Company."
12:13 PM
Stock Market LIVE Updates: Trent hits 3-month low post Q2 results; share price down 25% in 1 month
Stock Market LIVE Updates: Trent share price hit a three-month low of Rs 6,270 on the BSE today, falling 3.5 per cent in Friday's intraday trade.
Trent's stock has fallen 10 per cent in two days on profit booking, after the company reported a 44.3-per cent rise in its consolidated net profit at Rs 338.75 crore in the July-September quarter in the financial year 2025 (Q2 FY25), despite witnessing headwinds in the quarter. READ MORE
Trent's stock has fallen 10 per cent in two days on profit booking, after the company reported a 44.3-per cent rise in its consolidated net profit at Rs 338.75 crore in the July-September quarter in the financial year 2025 (Q2 FY25), despite witnessing headwinds in the quarter. READ MORE
12:04 PM
At 12 PM, the BSE Sensex was lower by 204 points, or 0.26 per cent, at 79,337, while the Nifty 50 was at 24,110, down 89 points, or 0.37 per cent.
Stock Market LIVE Updates: 12 PM Market Update - Sensex, Nifty extend losses
Stock Market LIVE Updates: Benchmark Indian equity indices were trading lower on Friday.
At 12 PM, the BSE Sensex was lower by 204 points, or 0.26 per cent, at 79,337, while the Nifty 50 was at 24,110, down 89 points, or 0.37 per cent.
11:43 AM
Around 9:28 AM, SAIL shares were down 3.53 per cent at Rs 118.95 per share on BSE. In comparison, the BSE Sensex was down 0.22 per cent at 79,367.84. READ MORE
Stock Market LIVE Updates: SAIL shares melt 7% on weak Q2FY25 results; PAT slips 31%, revenue down 17%
Stock Market LIVE Updates: Steel Authority of India (SAIL) share price slipped 6.7 per cent in trade on Friday (November 8) on BSE and registered an intraday low of Rs 115 per share. Selling pressure in the stock came after the company reported weak Q2FY25 results.
Around 9:28 AM, SAIL shares were down 3.53 per cent at Rs 118.95 per share on BSE. In comparison, the BSE Sensex was down 0.22 per cent at 79,367.84. READ MORE
11:36 AM
Stock Market LIVE Updates: BS BFSI Insight Summit - Fireside Chat with Irdai Chairman Debasish Panda
Stock Market LIVE Updates: Debasish Panda: Tax concessions will be more attractive (for insurance), however at the moment there are many tax concessions available. Beyond that if something comes we will welcome.
11:34 AM
Stock Market LIVE Updates: BFSI Summit - 'New surrender rules painful but will drive insurance demand'
Stock Market LIVE Updates: Addressing the ‘pain point’ of the Indian insurance sector, industry leaders said on Friday that the revised surrender value rules will boost customer confidence by shifting the balance in their favour, ultimately driving demand in the sector.
On the final day of the three-day Business Standard BFSI Summit, Vibha Padalkar, MD and CEO HDFC Life, emphasised that while Insurance Regulatory and Development Authority of India’s (Irdai) revised surrender rules benefit customers, balancing early exits with long-term product stability remains a challenge. READ MORE
11:30 AM
We are looking at the other big investors to come into the reinsurance space.
Hoping that more players will come into the reinsurance market in future.
Creation of reinsurance space is definitely a priority.
Stock Market LIVE Updates: BS BFSI Insight Summit - Fireside Chat with Irdai Chairman Debasish Panda
Stock Market LIVE Updates: Debasish Panda: We have made a series of changes for reinsurance.
We are looking at the other big investors to come into the reinsurance space.
Hoping that more players will come into the reinsurance market in future.
Creation of reinsurance space is definitely a priority.
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First Published: Nov 08 2024 | 8:03 AM IST
