Sensex Today Ends 277 Points Higher | Realty Stocks Shine | BEML Rallies 10%

Tue, 27 Feb Closing

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After opening the flat, Indian share markets turned positive as the session progressed and ended the day higher.

After staying listless for first half of the session, equity benchmark indices picked momentum and ended up to 0.4% higher on Tuesday.

At the closing bell, the BSE Sensex stood higher by 277 points (up 0.4%).

Meanwhile, the NSE Nifty closed higher by 76 points (up 0.3%).

TCS, Tata Motors and Sun Pharma were among the top gainers today.

Bajaj Finance, SBI and UPL on the other hand, were among the top losers today.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

The GIFT Nifty ended at 22,208 up by 29 points.

For a comprehensive overview of the Bank Nifty companies and their impact on the index's fluctuations, check out Equitymaster's Bank Nifty Companies list.

Broader markets ended the day lower. The BSE Mid Cap ended flat and the BSE Small Cap index ended 0.3% lower.

Sectoral indices are trading mixed, with socks realty sector, auto sector and IT sector witnessing most buying. Meanwhile, stocks in oil & gas and finance sector witnessed selling pressure.

Shares of Bosch, CAMS and HDFC AMC hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at 82.9 against the US$.

Gold prices for the latest contract on MCX are trading 0.3 higher at Rs 62,339 per 10 grams.

Meanwhile, silver prices are trading 0.2% higher at Rs 69,580 per 1 kg.

Speaking of stock markets, in the latest video, Hidden Treasure, Richa Agarwal shares her views on the road ahead for smallcaps, a prudent strategy to navigate it and alerts on six smallcaps that have witnessed insider buying interest.

These are the smallcaps with decent financial performance and where the current price is almost at par or at a discount from the average price at which insiders have purchased.

Tune in to below video for details.

Whirlpool Sinks to 52-week low. Here's why.

In the news form the consumer durables sector, Whirlpool has no plans to exit the Indian market but its recent stake sale in the India unit was due to high valuations and disparity against the global parent.

The reassurance didn't seem to have done much as Whirlpool India shares fell 5% to sink to a 52-week low of Rs 1,186 on 27 February 2024.

Last week, Whirlpool Corp, through its wholly-owned subsidiary, Whirlpool Mauritius, sold a 24% stake in the India arm, reducing it holding to 51%. SBI Mutual Fund emerged as the largest buyer, picking up a 7.2% stake.

Even Whirlpool's management in its conference call to discuss the third-quarter results, guided a high single-digit revenue growth over the medium to long term with market share gains.

It also said that days of double-digit margins are over for now due to heightened competition.

However, the company is a strong contender to come back and regain its mojo as it has already started capturing market share with its new launches and portfolio premiumisation.

The company is also deploying more manpower, aggressively expanding its reach.

It recently acquired majority stake in Elica India business, taking its stake up to 87% from 49%.

Check out our recent editorial to find out why Whirlpool of India share price has fallen over 20% in the past 6 months and why it's a strong contender to make a comeback this year.

Devyani International Shares Plunge 6%

Moving on to news from the consumer products sector, Shares of Devyani International plunged 6% on Tuesday to the day's low of Rs 152.7 on the NSE, following a likely block deal where 0.6% equity changed hands.

The price action was amid significant volumes as more than 11.4 m shares changed hands on the NSE around 10 am. The traded value of the shares stood at Rs 1.8 bn.

The stock has been a market laggard with returns of nearly 7% over the past year, which is a significant underperformance in comparison to Nifty, which has delivered nearly 27% returns during this period.

Devyani International reported weak numbers for the December quarter, with consolidated profit plunging 87% to Rs 96 m. The company's revenue rose only 7% YoY to Rs 8.4 bn. The reported EBITDA, post-IND-AS, closed at Rs 1.5 bn, resulting in an EBITDA margin of 17.4%.

The company demonstrated robust expansion and fortified its growth strategy in FY24, positioning itself amongst the leading Quick Service Restaurant (QSR) players by acquiring 283 KFC stores in Thailand.

With this, the total store count for DIL stands at 1,735 stores across all geographies. DIL is positioned to meet its goal of achieving 2,000 stores by the end of 2024, ahead of the initially projected target of 2026.

Happiest Minds Announces New Vertical Organisation

Moving on to news form the IT sector, IT firm Happiest Minds Technologies Limited saw its stock price rise 2.5% on Tuesday after it announced new vertical organisation structure comprising six new industry groups.

The new industry groups are Industrial, Manufacturing and Energy & Utilities, Healthcare & Life Sciences, Retail, CPG and Logistics, Banking, Financial Services and Insurance (BFSI), Hi-Tech and Media & Entertainment, and EdTech.

The verticalization marks a pivotal moment in the evolution and expansion of Happiest Minds, reshaping the foundational structure of the organization.

This strategic move significantly strengthens its sales capabilities, propelling growth. With dedicated teams possessing profound domain expertise within each Industry Group (IG), Happiest Minds aims to deliver tailored solutions, ensuring swifter response times.

This approach enhances organizational agility, fosters innovation, and ultimately contributes to heightened customer satisfaction and sustained growth.

To know what's moving the Indian stock markets today, check out the most recent share market updates here

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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