Market Close Highlights, Oct 29: Sensex adds 364pts, Nifty ends above 24,450; Banks, financials lead

Stock Market Highlights:Notably, 31 out of the 50 constituent stocks of the Nifty 50 ended higher, led by SBI, BEL, HDFC Life, SBI Life, and Eicher Motors, with gains of up to 5.05 per cent

11:56 AM

Stock Market LIVE Updates: JSW Energy declared highest bidder for KSK Mahanadi, beating Adani Group's bid

Stock Market LIVE Updates: JSW Energy today confirmed that its financial proposal for the KSK Mahanadi Power Company has been declared as the highest by the bankrupt company's Resolution Professional. 

The insolvency proceedings of KSK Mahanadhi had evinced interest from the Adani group, among others. 

JSW Energy, in an exchange filing, said, "The company had submitted its resolution plan under the corporate insolvency resolution process of KSK Mahanadi Power Company Limited. Pursuant to the Challenge Process undertaken by the Resolution Professional (RP), the company’s financial proposal has been declared as the highest financial proposal received by the RP in the Challenge Process."

It added, "A revised Resolution Plan incorporating the financial proposal is to be submitted by the Company with the RP and the Committee of Creditors (CoC) of KMPCL for voting and approval."

 

11:46 AM

Stock Market LIVE Updates: Is Muhurat Trading on Oct 31 or Nov 1? What NSE, BSE MCX said on date, time

Stock Market LIVE Updates: With Diwali just around, the National Stock Exchange (NSE), the BSE, and even the commodity exchange Multi Commodity Exchange of India (MCX) have announced the date for conducting their muhurat trading session. The largely celebrated Indian festival Diwali is slated on October 31, however, few regions will observe the festival on November 1, owing to variations in local traditions.

 

Muhurat trading is a live trading session organised by the Indian stock exchanges on the day of Diwali, typically lasting for about an hour. It is considered an auspicious time to make investments by investors and traders. During this session, investors and traders often buy stocks and commodities to mark the beginning of a new financial year. READ MORE

 

11:36 AM

Stock Market LIVE Updates: Jio Financial incorporates two companies to start mutual fund biz with BlackRock

Stock Market LIVE Updates: Reliance Industries-owned Jio Financial Services today informed that it has incorporated two companies to begin a mutual fund business in a joint venture with the US-based BlackRock Financial Management.

The company, in an exchange filing, said, "We would like to inform that two companies, “Jio BlackRock Asset Management Private Limited” and “Jio BlackRock Trustee Private Limited” have been incorporated on October 28, 2024, to carry on, inter alia, the primary business of mutual fund, subject to regulatory approvals." 

Jio Financial will own 50 per cent stakes in both the companies, according to its exchange filing.

 

11:26 AM

Stock Market LIVE Updates: Ramco Cements monetises non-core assets worth Rs 376 cr since Sept 2024

Stock Market LIVE Updates: The Ramco Cements today informed that it has monetised non-core assets worth of Rs 376 crore since September 2024, including selling equity shares in associate company Ramco Industries at the current market value of Rs 326 crores. 

The company added that these shares were sold to promoter group companies by way of inter-se transfer.

Further, during Sep 2024, the company also sold a part of compulsorily convertible preference shares (CCPS) of Swiggy for a consideration of Rs 50 crore.

It added that it is on track to monetise non-core assets worth Rs 1,000 crore.

 

11:16 AM

Stock Market LIVE Updates: Ashoka Buildcon completes 39 km stretch on NH 150; to get annuity payment from NHAI

Stock Market LIVE Updates: Ashoka Buildcon today informed that folllowing the completion of a 39.07 km stretch on NH 150, the independent engineer for the project has declared September 15 as the Commercial Operations Date for that part of the road, making the company to receive annuity payments every six months from the National HIghways Authority of India. 

The company, in an exchange filing, said, "Ashoka Buildcon informs the declaration of September 15, 2024 as the Commercial Operations Date (CoD) for stretch of 39.07 KMs as per letter issued by Independent Engineer, dated October 28, 2024, for its Hybrid Annuity Mode (HAM) Project of National Highways Authority of India viz. ‘Development of 6 lane Access Controlled Greenfield highway from KM 162.500 to KM 203.100, Baswantpur to Singondi Section of NH 150 C (Package 4 of Akkalkot KNT of TS Border) on Hybrid Annuity Mode (HAM) under Bharatmala Pariyojana’ (“Project”)."

The company added that the said SPV has received a Provisional Certificate for completion of 39.07 KMs, out of total Project stretch of 40.600 KMs.

It added that consequent upon the declaration of CoD, the SPV is eligible for receipt of an Annuity from NHAI for the operation period of 15 years at the interval of every 6 months, from September 15, 2024.

11:06 AM

Stock Market LIVE Updates: Sharda Cropchem rallies 18% in 2 days on strong Q2 numbers; hits 52-wk high

Stock Market LIVE Updates: Shares of Sharda Cropchem (SCL) hit a 52-week high of Rs 704, as they rallied 8 per cent on the BSE in Tuesday’s intra-day trade in an otherwise weak market.

 

In two days, the stock of the pesticides and agrochemicals company has surged 18 per cent after it reported a consolidated profit after tax of Rs 42.40 crore in the second quarter ended September 2024 (Q2FY25), on the back of strong operational performance. It had posted a net loss of Rs 27.60 crore in the year-ago quarter (Q2FY24). READ MORE

 

 

11:02 AM

Stock Market LIVE Updates: 11 AM market update - Off day's lows, Sensex, Nifty trade in negative zone

Stock Market LIVE Updates: Indian benchmark equity indices BSE Sensex and Nifty 50 were trading lower on Tuesday.

At 11 AM, the BSE Sensex was down 400.45 points, or 0.50 per cent, at 79,604.59, while the Nifty 50 was at 24,201, lower by 137.70 points, or 0.57 per cent.

 

10:57 AM

Stock Market LIVE Updates: DCX Systems at 5% upper limit as arm bags order from Lockheed Martin Global

Stock Market LIVE Updates: DCX Systems shares were buzzing in trade on Tuesday, October 29 as the scrip was locked in 5 per cent upper circuit at Rs 322.10 per share.

 

The rise in DCX Systems share price came after the company announced that its wholly owned subsidiary, Raneal Advanced Systems, has received export orders from Lockheed Martin Global Inc, USA for Rs 379.67 crore (or about $45,199,440). READ MORE

 

10:49 AM

Stock Market LIVE Updates: Gillette India soars 11% after posting strong quarterly earnings in Q2

Stock Market LIVE Updates: Shares of Gillette India soared up to 11.54 per cent at Rs 9,537.70 per share on the BSE in Tuesday’s intraday trade. This came after the company delivered strong earnings in the first quarter of the financial year 2024-25 (Q2FY25). 

 

Gillette India reported a nearly 44 per cent increase in first-quarter profit, reaching Rs 133 crore ($15.8 million) for the quarter ending September 30, up from Rs 92.69 crore a year earlier. This growth was fueled by strong demand for its grooming products, including razors and shaving creams. READ MORE

 

10:36 AM

Stock Market LIVE Updates: Analysts offer mixed views on Sun Pharma's near-term growth; revise target

Stock Market LIVE Updates: Shares of Sun Pharmaceuticals, the biggest pharmaceutical company of India fell 1.71 per cent at Rs 1870 per share on the BSE in Tuesday's intraday deals after brokerages offered mixed reviews on its near term growth.  The company, however, delivered a stellar show in its second quarter for the financial year 2024-25 (Q2FY25), beating brokerages estimates.

 

At 09:54 AM; the shares of Sun Pharma were trading 1.36 per cent lower at Rs 1876.70 a piece. By comparison, the BSE Sensex was down 0.47 per cent at 79,631 level.  READ MORE

 

10:24 AM

Stock Market LIVE Updates: JSW ties up with South Korea’s POSCO to develop 5 MTPA steel plant in India

Stock Market LIVE Updates: JSW Group today informed tht it has signed a Memorandum of Understanding (MoU) with South Korea’s POSCO Group (POSCO), outlining a framework for collaboration in steel, battery materials, and renewable energy sectors in India. 

JSW Group's two companies, JSW Steel and JSW Energy, in separate exchange filings, said, "The partnership will focus on setting up an integrated steel plant in India with an initial capacity of 5 million tonnes per annum (MTPA)."

"The two Groups will also explore collaborations in the areas of battery materials related to Electric Vehicles (EVs), and renewable energy for meeting the captive requirements of the proposed integrated steel plant."

 

10:21 AM

Stock Market LIVE Updates: Nifty pivot at 24,500; FIIs trim shorts, net buyers in F&O for last 4 days

Stock Market LIVE Updates: The Nifty and Bank Nifty futures ended higher on Monday led by gains in banking and financial shares. The spot Nifty bounced back above 24,300 levels, while the Bank Nifty ended at 51,250.

 

The Nifty chart reveals a 'Spinning bottom' pattern, indicating indecision; however, the oversold momentum indicators suggest strong support around 24,100 and 24,000 as we approach monthly expiry and a festive week, said Rajesh Bhosale, Equity Technical Analyst at Angel One. READ MORE

 

10:11 AM

Stock Market LIVE Updates: Bharti Airtel slips 3% as Q2 nos. miss street expectations; ARPU at Rs 233

Stock Market LIVE Updates: Telecom giant Bharti Airtel shares dropped as much as 3.22 per cent to hit an intraday low of Rs 1,610 per share on Tuesday, October 29, 2024. 

 

The drop in Bharti Airtel share price came after the company posted September quarter of financial year 2025 (Q2FY25) results, which fell short of Bloomberg estimates. READ MORE

 

10:03 AM

Stock Market LIVE Updates: 10 AM market update - Sensex, Nifty trade with loses

Stock Market LIVE Updates: Indian benchmark equity indices BSE Sensex and Nifty 50 were trading lower on Tuesday.

At 10 AM, the BSE Sensex was down 383.9 points, or 0.48 per cent, at 79,621.18, while the Nifty 50 was at 24,213, lower by 125.85 points, or 0.52 per cent.

 

9:57 AM

Stock Market LIVE Updates: Spandana Sphoorty falls 14% after it swings into loss of Rs 204 crore in Q2FY25

Stock Market LIVE Updates: Spandana Sphoorty Financial Q2FY25 (Standalone, YoY):Total income increased 7 per cent to Rs 659 crore from Rs 614 crore. The company reported a net loss of Rs 204 crore, compared to a profit of Rs 116 crore.