Sensex Falls 617 Points, Nifty Ends Below 17,000; Coal India, BPCL & Tata Steel Plunge

Mon, 25 Apr Closing

   Previous Close   

   Pre-Open   

   10:30 am   

Indian share markets extended their losing streak to the second trading session today.

Benchmark indices plunged tracking weak global cues as Wall Street indices and Asian markets fell on anxiety over higher interest rates.

At the closing bell, the BSE Sensex stood lower by 617 points, down 1.1%.

Meanwhile, the NSE Nifty plunged 218 points, ending at 16,954.

ICICI Bank and HDFC twins were among the top gainers today.

Tata Steel, Tech Mahindra and NTPC were among the top losers today.

In broader markets, both the BSE Mid Cap index as well as the BSE Small Cap index ended lower by 1.9%.

Barring banking stocks, all sectoral indices ended in red with metal, power, and FMCG stocks witnessing most of the selling.

Shares of Vinati Organics and Swan Energy hit their 52-week high today.

Outside the home ground, Asian share markets witnessed heavy sell-off. At the close in Tokyo, the Nikkei 225 plunged 1.9% while the Hang Seng dipped 3.7%. The Shanghai Composite tanked by 5.1%.

The SGX Nifty was trading down by 0.9% at the time of writing.

Gold prices are currently trading down by 0.7% at Rs 51,903 per 10 grams while silver is down 2.1% at Rs 65,152 per kg.

Speaking of stock markets, in his latest video, Co-head of Research at Equitymaster Rahul Shah tries to understand the probability of Tata Power undergoing a significant crash in the near future.

Is Tata Power's rise justified by fundamentals or too much of expectations have built up into the stock price?

Is the stock in risk of a big crash if the broader markets start turning southwards?

Rahul answers all these questions in the below video. Tune in to know more...

Coming to latest developments from the IPO space, Campus Activewear's initial public offering (IPO) will open for subscription tomorrow.

The grey market is indicating a premium of Rs 85 compared to Rs 60 on Sunday, 24 April 2022.

The public issue of sports and athleisure footwear company comprises an offer for sale (OFS) of up to 47.9 m shares by its existing shareholders and promoters.

Meanwhile, one more company is coming out with its IPO this week. Rainbow Children's Medicare's IPO will open on Wednesday and it's currently trading at a premium of Rs 50 in the grey market.

Moving on to news from the FMCG sector, Indonesia has proposed a ban on palm oil exports starting 28 April.

The ban will cause a sharp increase in edible oil prices which have already been on the boil due to the ongoing Russia - Ukraine crisis.

India meets almost 45% of its annual palm oil requirement from Indonesia.

Frontline stocks like Godrej Consumer Products and Marico closed down by 4% and 1.4% respectively on BSE.

While the S&P BSE FMCG index closed down 1.6%, as compared to 1.1% decline in the BSE Sensex.

Moving on to stock specific news, Borosil Renewables was among the top buzzing stocks today.

Borosil Renewables is set to acquire 100% stake in two European solar glass companies: lnterfloat Corporation and GMB Glasmanufaktur Brandenbur.

Based in Liechtenstein, Interfloat has been selling glass to customers in Europe for close to 4 decades and has deep connections with the glass trade in the region.

Borosil will buy Interfloat for cash consideration of euro 5.1 m and swap of shares equivalent to euro 22.5 million.

An additional amount is also to be determined based on the performance in the current year, 2024, 2025, and 2026 which will not be exceeding 50% of earnings before interest and tax (EBIT) of Interfloat.

Interfloat's reported revenue for 2021 stood at euro 59 m.

The company will directly hold around 68.1% stake in Interfloat and the Liechtenstein arm will hold the remaining 31.9% stake.

The second entity is GMB. Based in Germany, the company is engaged in the business of solar glass manufacturing.

GMB manufactures glass for the European solar (PV as well as thermal) and greenhouse glass markets, with a current capacity of 300 tonnes per day.

Borosil will acquire GMB for euro 24.9 m to be given in cash and an additional amount to be determined based on the performance in the current year, 2024, 2025, and 2026, which will not be exceeding 50% of EBIT of GMB.

GMB posted revenues of euro 46.2 m for 2021. Through its German arm, Borosil, will hold and control 100% stake in GMB.

On the additions, the company said:

• The acquisition is intended to strengthen the company's ability to supply products to its European customer base and will add value to its customers by leveraging the greater synergies offered by the two companies.

According to a regulatory filing, it will take 6-18 weeks for the transaction to be completed.

Borosil Renewables share price dropped by 5.2% on the BSE.

Another stock that created buzz today was Bharat Petroleum Corporation (BPCL).

BPCL traded deep in red on reports that the government may revisit the company's privatisation plan, including revision of the terms of sale.

The government currently holds 52.9% stake in the oil marketing company and has received three expressions of interest for buying its entire stake.

Among them was one from Anil Agarwal-led Vedanta Group.

In an interview, Anil Agarwal, chairman of Vedanta Resources said:

• The government has decided not to go ahead with the privatisation plan of state-run BPCL and has told its suitors that it will revise the plan and come to market.

Reacting to the news, shares of BPCL dipped 6% on the bourses.

To know more about the company, check out BPCL's financial factsheet and its latest quarterly results.

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

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

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

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers