Stock Market Closing Highlights: Sensex adds 234 points, Nifty at 23,708; Smallcap shares outperform
Markets Today Highlights: Among the broader markets, small-cap shares outperformed others, with the Nifty Smallcap100 ending up 1.35 per cent
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10:38 AM
Stock Market LIVE Updates: Mobikwik share price up 8% ahead of Q2 results; here's what you should know
Stock Market LIVE Updates: One Mobikwik Systems shares gained 7.7 per cent in Tuesday's trade on BSE, logging an intraday high at Rs 601.35 per share. The buying was seen ahead of the company announcing its September quarter results.
Around 9:45 AM, Mobikwik share price was up 4.82 per cent at Rs 585 per share on BSE. In comparison, the BSE Sensex was up 0.53 per cent at 78,375.77. The market capitalisation of the company stood at Rs 4,501.53 crore. The 52-week high of the stock stood at Rs 698.3 per share and the 52-week low of the stock stood at Rs 439.2 per share. READ MORE
10:25 AM
The northward move in the Biocon share price came on the back of two positive developments.
The first major catalyst came from Biocon’s subsidiary, Biocon Biologics, which announced an approval from Japan's Pharmaceuticals and Medical Devices Agency (PMDA). The regulatory body gave the green light to Ustekinumab BS, a subcutaneous biosimilar injection to Stelara, marking a key breakthrough for the company.
Secondly, the company received a major rating and price target update from the New York-based financial services company Jefferies, according to reports. The brokerage upgraded Biocon to ‘Buy’, and also raised the target to Rs 400. The new target price reflects an upside of 11.54 per cent from the previous close (January 6) of Rs 358.60. READ MORE
Stock Market LIVE Updates: Biocon share rises 4% as arm gets Japan's PMDA approval for Psoriasis drug
Stock Market LIVE Updates: Pharmaceutical behemoth Biocon share price was buzzing in trade on Tuesday, January 7, 2025, as the scrip rose up to 4.44 per cent to hit an intraday high of Rs 374.55 per share.
The northward move in the Biocon share price came on the back of two positive developments.
The first major catalyst came from Biocon’s subsidiary, Biocon Biologics, which announced an approval from Japan's Pharmaceuticals and Medical Devices Agency (PMDA). The regulatory body gave the green light to Ustekinumab BS, a subcutaneous biosimilar injection to Stelara, marking a key breakthrough for the company.
Secondly, the company received a major rating and price target update from the New York-based financial services company Jefferies, according to reports. The brokerage upgraded Biocon to ‘Buy’, and also raised the target to Rs 400. The new target price reflects an upside of 11.54 per cent from the previous close (January 6) of Rs 358.60. READ MORE
10:16 AM
The company, in an exchange filing, said, it will provide Kiranakart Technologies Private Limited, with Zaggle Zoyer Petty cash & Zaggle Save (Employee expense management & benefits) propositions.
Stock Market LIVE Updates: Zaggle signs deal with Kiranakart to provide customer services for 3 years
Stock Market LIVE Updates: Zaggle Prepaid Ocean Services informed late on Monday that it has signed a Customer Service Agreement with Kiranakart Technologies for a duration of three years.
The company, in an exchange filing, said, it will provide Kiranakart Technologies Private Limited, with Zaggle Zoyer Petty cash & Zaggle Save (Employee expense management & benefits) propositions.
10:09 AM
The company, in an exchange filing, said, "We are pleased to inform you that M/s. Paras Defence and Space Technologies Limited has been granted a License under the Arms Act, 1959".
It added that the license authorises the company to manufacture MK-46 and MK-48 Belt-fed Light Machine Gun (LMG) – Modernised Enhanced and Redefined LMG with a proposed annual capacity of 6,000 nos each.
Stock Market LIVE Updates: Paras Defence gets license to make 6,000 light machine guns annually
Stock Market LIVE Updates: Paras Defence and Space Technologies today informed that it has been granted a license under the Arms Act, 1959, by the Department for Promotion of Industry & Internal Trade, Ministry of Commerce & Industry, Government of India.
The company, in an exchange filing, said, "We are pleased to inform you that M/s. Paras Defence and Space Technologies Limited has been granted a License under the Arms Act, 1959".
It added that the license authorises the company to manufacture MK-46 and MK-48 Belt-fed Light Machine Gun (LMG) – Modernised Enhanced and Redefined LMG with a proposed annual capacity of 6,000 nos each.
10:05 AM
On the National Stock Exchange (NSE), Indo Farm Equipment shares listed at Rs 256 apiece, showing a slightly lower premium of Rs 41 or 19.07 per cent against the issue price. READ MORE
Stock Market LIVE Updates: Indo Farm Equipment share lists at 20% premium; misses IPO GMP forecasts
Stock Market LIVE Updates: Shares of agriculture and harvesting equipment maker Indo Farm Equipment made a strong debut on the bourses on Tuesday, January 7, 2025, following the completion of its IPO (Initial Public Offering) rounds. Indo Farm Equipment shares listed at Rs 258.40 apiece on the BSE, reflecting a premium of Rs 43.40 or 20.19 per cent against the issue price of Rs 215.
On the National Stock Exchange (NSE), Indo Farm Equipment shares listed at Rs 256 apiece, showing a slightly lower premium of Rs 41 or 19.07 per cent against the issue price. READ MORE
10:03 AM
Stock Market LIVE Updates: 10 AM market update - Sensex, Nifty pare opening gains; trade in green
Stock Market LIVE Updates: Indian benchmark equity indices BSE Sensex and Nifty50 were trading higher, although with some cuts to the opening gains, on Tuesday, while tracking overnight gains on the S&P 500 and Nasdaq.
At 10 AM, the BSE Sensex was higher by 102.56 points, or 0.13 per cent, at 78,067.55, while the Nifty50 was at 23,63.85, ahead by 67.80 points, or 0.29 per cent.
9:55 AM
Stock Market LIVE Updates: Quadrant Future Tek IPO opens today: GMP up 72%; Should you subscribe?
Stock Market LIVE Updates: The unlisted shares of Punjab-based railway equipment maker Quadrant Future Tek were commanding a solid premium in the grey markets as the company's initial public offering (IPO) is set to open for public subscription today, January 7, 2025. Sources tracking unofficial market activities revealed that the company's shares were quoted trading at Rs 500 apiece, reflecting a grey market premium (GMP) of Rs 210 or 72.41 per cent over the upper end of the issue price of Rs 290.
Quadrant Future Tek has also succeeded in getting favorable reviews from several brokerages, including SBI Securities, BP Equities, and Canara Bank Securities for its public offering. However, before we delve into the brokerage calls, here are the key details of the Quadrant Future Tek IPO. READ MORE
9:53 AM
Selectivity will be the key, when it comes to asset quality, and some of that loan growth coming back.
Domestic pharma continues to be okay in the near-term; IT services, depeneding on where the rupee-USD ends up and if we see some sort of discreationary demand coming back in the US, IT services might do okay as well.
Stock Market LIVE Updates: Prashant Paroda of Allspring Global Investments on Indian markets
Stock Market LIVE Updates: Prashant Paroda says a lot of the growth of loan growth has come down a bit, so towards the end of the back half of the year, some sort of pick up in growth in banks and private sector banks. You have to be very selective. There are some banks that are reporting MFI issues, other banks, not so much.
Selectivity will be the key, when it comes to asset quality, and some of that loan growth coming back.
Domestic pharma continues to be okay in the near-term; IT services, depeneding on where the rupee-USD ends up and if we see some sort of discreationary demand coming back in the US, IT services might do okay as well.
9:46 AM
Smallcap P/E is still about 25 times, Midcap P/E is 30 times.
In the last quarter, while the markets has corrected by about 10 per cent, surprisingly smallcaps and midcaps have continued to outperform.
Both are down about only 6-7 per cent. Typically, in market behaviour, you'll see smallcaps and midcaps have higher beta, they will go up more than largecaps, and that hasn't happened yet.
One of the reasons is that market is more optimistic on earnings, and we're seeing several parts, where earnings have been more resilient. Whether you look at the capital goods sector, real estate, travel-related sector, capital market beneficiaries, all of which are more represented in mid and smallcap space, the earnings have not been bad.
Adding, in largecaps, the disappointment has been largest, for eaxmple in Banks this quarter; they'll probably 0.2 per cent growth YoY this quarter.
Stock Market LIVE Updates: Ashish Gupta of Axis AMC on P/E multiples in Indian markets on CNBC TV18
Stock Market LIVE Updates: Ashish Gupta says more than Nifty 50, where the P/E are vulnerables is the midcap and the smallcap space.
Smallcap P/E is still about 25 times, Midcap P/E is 30 times.
In the last quarter, while the markets has corrected by about 10 per cent, surprisingly smallcaps and midcaps have continued to outperform.
Both are down about only 6-7 per cent. Typically, in market behaviour, you'll see smallcaps and midcaps have higher beta, they will go up more than largecaps, and that hasn't happened yet.
One of the reasons is that market is more optimistic on earnings, and we're seeing several parts, where earnings have been more resilient. Whether you look at the capital goods sector, real estate, travel-related sector, capital market beneficiaries, all of which are more represented in mid and smallcap space, the earnings have not been bad.
Adding, in largecaps, the disappointment has been largest, for eaxmple in Banks this quarter; they'll probably 0.2 per cent growth YoY this quarter.
9:35 AM
However, this is a period of a very interesting time, with Trump coming and tariffs again coming into the picture.
The other big basket in EMs is China, and people are still worried about the real estate sector there, and how things will develop there, and whether the government there will do a big enough stimulus to counteract the slowdown there.
So the macro environment is a vaery cautious environment for EM investors.
Stock Market LIVE Updates: Prashant Paroda of Allspring Global Investments on FII selling on CNBC TV18
Stock Market LIVE Updates: Prashant Paroda says India's valuations have gone ahead of all emerging markets, and some investors think it's a good idea to lock in some gains.
However, this is a period of a very interesting time, with Trump coming and tariffs again coming into the picture.
Overall, for EM funds, flows will be very muted till we get some clarity on the tariffs picture.
The other big basket in EMs is China, and people are still worried about the real estate sector there, and how things will develop there, and whether the government there will do a big enough stimulus to counteract the slowdown there.
So the macro environment is a vaery cautious environment for EM investors.
9:29 AM
Stock Market LIVE Updates: Here's why Ashoka Buildcon shares jumped 5% in trade on January 7; details
Stock Market LIVE Updates: Construction engineering major Ashoka Buildcon shares rose up to 4.71 per cent to hit an intraday high of Rs 290.90 per share on Tuesday, January 7, 2025.
The rise in Ashoka Buildcon share price came after the company announced that Ashoka Bowaichandi Guskara Road Private Limited (SPV), a wholly-owned subsidiary of the Company, has executed a Concession Agreement with National Highways Authority of India (NHAI) for the development of 4 lane economic corridor in West Bengal under Hybrid Annuity Mode (HAM). READ MORE
9:26 AM
Stock Market LIVE Updates: Technical view
Stock Market LIVE Updates: Bargain hunting did evolve on dips into the 24090-23960, which nearly retraced 50 per cent of Thursday’s gains, but the take-off thereof failed to find momentum. This puts the trend evenly poised, bringing caution back. However, we will persist with the 24,400-540-770 view, as long as above 23,900/860. Slippage past the same could see 23,750 attracting prices lower, but favoured view does not see a collapse right away.
View by Anand James, Chief Market Strategist, Geojit Financial Services.
View by Anand James, Chief Market Strategist, Geojit Financial Services.
9:24 AM
Stock Market LIVE Updates: A glance at broader market during open
Stock Market LIVE Updates: BSE Smallcap was up 0.69 per cent and Midcap was up 0.72 per cent during open
9:22 AM
Stock Market LIVE Updates: Here's a look at Nifty50 gainers and loser during open
Stock Market LIVE Updates: ONGC, Tata Consumer, Titan were among the top gainers on Nifty50.
9:20 AM
Stock Market LIVE Updates: Here's a look at Sensex gainers and loser during open
Stock Market LIVE Updates: Titan, Bajaj Finance, Tech Mahindra were among the top gainers on Sensex.
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First Published: Jan 07 2025 | 7:52 AM IST
