Stock Market Closing Highlights: Sensex sheds 451pts, Nifty ends at 23,645; Banking, Auto shares dip

Markets Today Highlights: In the broader markets Nifty Midcap100 index ended higher by 0.37 per cent, while Nifty Smallcap100 index settled down by 0.62 per cent

2:25 PM

Stock Market LIVE Updates: BII India EV to invest Rs 650 cr in Mahindra Electric, from Rs 750 cr earlier

Stock Market LIVE Updates: Mahindra & Mahindra today informed that following a joint assessment conducted by British International Investments (BII) along with the company, BII will invest a total of Rs 650 crore by March 31, 2025, down from the earlier plan to invest Rs 750 crore by December 31, 2024.

The company, in an exchange filing, said, "We refer to our earlier intimation dated 16th May, 2024, wherein the Company had intimated that the Company and
British International Investment Plc. have mutually agreed to extend the timeframe for the final tranche of BII’s planned investment of Rs. 725 Crores in Mahindra
Electric Automobile Limited, and will jointly assess whether additional investment is required by 31st December, 2024.

In this connection, we would like to update you that the Company and BII have jointly assessed the funding requirement for MEAL. Basis the assessment, the Company and BII have today at 2.01 p.m. mutually agreed that the final tranche of BII Group’s (i.e. BII and/or BII India EV LLP) investment would be Rs. 650 Crores to be completed by 31st March, 2025, as against earlier planned investment of Rs. 725 Crores."

The company added that following the investment by BII, or BII India EV LLP, "The total investment by BII Group in MEAL would be Rs 1,850 crores resulting in BII Group having a shareholding in the range of 2.64 per cent to 4.58 per cent of the Share Capital of MEAL, on a fully diluted basis."

2:09 PM

Stock Market LIVE Updates: Refrigeration sealing solutions provider Ajay Poly files DRHP

Stock Market LIVE Updates: Delhi-based, Ajay Poly, manufacturer of refrigeration sealing solutions, is preparing to go public as the company has filed its draft red herring prospectus (DRHP) with the market regulator, Securities and Exchange Board of India (Sebi) for its initial public offering (IPO). Read more 

2:01 PM

Stock Market LIVE Updates: Phoenix Mills rises 3% after incorporating Sparkle Three Mall Developers

Stock Market LIVE Updates: The Phoenix Mills shares rose 3.5 per cent in Monday's trade on BSE logging an intraday high at Rs 1,757 per share. The stock was in demand after the company incorporated its subsidiary Sparkle Three Mall Developers. Read more 

1:54 PM

Stock Market LIVE Updates: RBI should rethink forex strategy, loosen hold on rupee in 2025: Economists

Stock Market LIVE Updates: India's central bank will need to rethink its foreign exchange strategy and loosen its hold on the rupee in 2025, economists said, with the currency at its strongest against peers in at least two decades in trade-weighted terms. Read more 

1:49 PM

Stock Market LIVE Updates: Why IL & FS Engineering & Construction shares hits 5% upper circuit?

Stock Market LIVE Updates: IL & FS Engineering and Construction company shares hit 5 per cent upper circuit in Monday's trade on BSE at Rs 41.05 per share. The stock rallied after the company was retained for sub-contracting work at Bhubaneswar Metro Phase-I from Ceigall India. The project has to be completed within 18 months and is worth 302.82 crore. Read more 

1:43 PM

Stock Market LIVE Updates: Vakrangee rallies 5% on pact with Shriram Life to offer insurance products

Stock Market LIVE Updates: Shares of Vakrangee rose 5.4 per cent at Rs 34.98 a piece on the BSE in Monday’s intraday trade. This came after the company formed a strategic corporate agency tie-up with Shriram Life Insurance. Read more 

1:39 PM

Stock Market LIVE Updates: This BSE listed stock surged 178% in 3 months; zoomed 454% thus far in CY24

Stock Market LIVE Updates: Stock Market LIVE Updates: Shares of Ceinsys Tech hit a new high of Rs 1,965.70, gaining 5 per cent on the BSE in Monday’s intra-day trade. The stock is in the process of registering its third straight monthly gain, up 31 per cent so far in the month of December 2024. Read more 

1:33 PM

Stock Market LIVE Updates: Shakti Pumps, Roto: Charts hint up to 20% gain for compressors & pumps stks

Stock Market LIVE Updates: Shares from the compressors & pumps sector witnessed a phenomenal run on the bourses in the year 2024 with Shakti Pumps (India), in particular, gaining an astounding 6.5-fold or 545 per cent till date. Among others, Kirloskar Pneumatic Company soared 155 per cent; while shares of Dynamatic Technologies, Roto Pumps and Ingersoll-Rand (India) were up in the range of 34 - 66 per cent.

In comparison, the benchmark indices - the BSE Sensex and the NSE Nifty advanced around 9 per cent each.

Can the bull-run in these compressors & pumps stocks continue in the year 2025? Here's what the charts indicate. READ MORE

 

1:24 PM

Stock Market LIVE Updates: Servotech Power rises 5% on bagging order of agriculture pumps from UP govt

Stock Market LIVE Updates: Shares of Servotech Power Systems rose 4.99 per cent at Rs 169.41 a piece on the NSE in Monday’s intraday trade. This came after Servotech secured an order of 1,100 Grid-connected Agriculture Pumps under “Kusum Component C-1 Scheme” from Uttar Pradesh New and Renewable Energy Development Authority (UPNEDA), Govt. of Uttar Pradesh.

 

The project valued at around Rs 31 crores will involve manufacturing, supplying, installation, testing & commissioning of Grid Connected Agriculture Pumps along with solar power plants. READ MORE

 

 

1:12 PM

Stock Market LIVE Updates: Upcoming IPO - Refrigeration sealing solutions provider Ajay Poly files DRHP

Stock Market LIVE Updates: Delhi-based, Ajay Poly, manufacturer of refrigeration sealing solutions, is preparing to go public as the company has filed its draft red herring prospectus (DRHP) with the market regulator, Securities and Exchange Board of India (Sebi) for its initial public offering (IPO).

 

The IPO will include a fresh issue of shares worth Rs 238 crore and an offer for sale (OFS) of up to 9.3 million equity shares by promoters, as per the DRHP.  The OFS will see Bina Jain, Rajeev Jain, and Nitin Jain divesting 3.7 million, 2.8 million, and 2.8 million equity shares, respectively. Ajay Poly may also consider a pre-IPO placement of Rs 47.60 crore. If completed, the amount raised will reduce the size of the fresh issue. READ MORE

 

1:02 PM

Stock Market LIVE Updates: 1 PM market update - Sensex, Nifty pare gains, trade flat

Stock Market LIVE Updates: Benchmark Indian equity indices BSE Sensex and Nifty50 were trading flat after coming off the day's highs on Monday.

At 1 PM, the BSE Sensex was lower by 64.15 points, or 0.08 per cent, at 78,634.92, while the Nifty50 was at 23,780.30, behind by 33.10 points, or 0.14 per cent.

 

12:53 PM

Stock Market LIVE Updates: Aerpace Industries shares hits 5% upper circuit on winning Rs 97-cr order

Stock Market LIVE Updates: Aerpace Industries shares clocked a 5 per cent upper circuit in Monday's trade on BSE at Rs 44.57 per share. The buying in the stock came after  AerVolt bagged an order for the supply of 50 MWp high efficiency 595 wp TOP Con technology smart solar panels. AerVolt project is a renewable energy initiative of Aerpace Industries.

 

Around 11:07 AM, Aerpace Industries Ltd share price was up 4.36 per cent at Rs 44.3 per share on BSE. In comparison, the BSE Sensex was down 0.07 per cent at 78,646.72. READ MORE

 

 

12:39 PM

Stock Market LIVE Updates: Aether Ind shares gain 3% after 15 MW solar power project commissioned

Stock Market LIVE Updates: Aether Industries shares gained 2.7 per cent in Monday's trade on BSE, logging an intraday high at Rs 894.25 per share. The stock advanced after the company's 15 MW Solar Power Project awarded by KPIG Energia was fully commissioned.

 

Around 11:35 AM, Aether Industries share price was up 1.9 per cent at Rs 886.45 per share on BSE. In comparison, the BSE Sensex was up 0.29 per cent at 78,926.83. The market capitalisation of the company stood at Rs 11,751.49 crore. READ MORE

 

 

12:28 PM

Stock Market LIVE Updates: Ashoka Buildcon rallies 6% on strong order book; zooms 124% in CY24

Stock Market LIVE Updates: Shares of Ashoka Buildcon hit a new high of Rs 312, as they rallied 6 per cent on the BSE in Monday’s intra-day trade amid heavy volumes in an otherwise subdued market on a strong order book position. The stock of the civil construction company has surpassed its earlier high of Rs 310.40 touched on December 18, 2024. In comparison, the BSE Sensex was down 0.15 per cent at 78,581 at 10:19 AM.

 

Ashoka Buildcon share price has zoomed 124 per cent so far in calendar year 2024, as compared to the 9 per cent rise in the benchmark index. READ MORE

 

12:19 PM

Stock Market LIVE Updates: Kothari Products shares climb 7% after board recommends 1:1 bonus issue

Stock Market LIVE Updates: Shares of Kothari Products rose 7.37 per cent at Rs 209.70 a piece on the BSE in Monday’s intraday trade. Kothari Products share price rose after the company’s board of directors recommended issue of bonus shares in the ratio of 1:1 i.e, one bonus share of one share held by the existing shareholders. 

 

The company informed that the bonus issue is out of free reserves created out of profits and bonus shares would be credited potentially by March 11, 2025. READ MORE