Sensex Today Ends 33 Points Lower | Nifty Above 23,300 | PNC Infratech Slumps 8%

Tue, 11 Jun Closing

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After opening the day marginally lower, Indian share remained volatile as the session progressed and ended the day flat.

Indian benchmark indices erased gains amid the late selling and ended the day marginally lower.

At the closing bell, the BSE Sensex stood lower by 33 points.

Meanwhile, the NSE Nifty closed higher by 5 points.

ONGC, L&T and Tata Motors among the top gainers today.

Asian Paints, ITC and reliance Industries on the other hand, were among the top losers today.

The GIFT Nifty was trading at 23,320, up by 87 points, at the time of writing.

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

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The BSE MidCap index ended 0.7% higher and BSE SmallCap index ended 1% higher.

Sectoral indices are trading mixed with socks in realty sector, telecom sector and healthcare sector witnessing most buying. Meanwhile stocks in metal sector and IT sector witnessed selling pressure

Shares of Gillette India, Hero MotoCorp and TVS Motors 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 83.56 against the US$.

Gold prices for the latest contract on MCX are trading 0.2% lower at Rs 71,270 per 10 grams.

Meanwhile, silver prices were trading 1.6% lower at Rs 88,600 per 1 kg.

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Why Wardwizard Innovations Share Price Is Rising Post Promoter Selling?

In news from the automobile sector, according to the Bulk/Block deal data available on the stock exchange, Wardwizard Solutions India Private Limited, the promoter of Wardwizard Innovations & Mobility Limited, sold 2.5 million (m) equity shares of the company on 10 June 2024, at an average price of Rs 62.7 per share. This transaction amounted to a total value of Rs 156.7 m.

Following the update, the stock soared by an impressive 19% on Tuesday (11 June 2024), reaching a 5-month high of Rs 75.3 per share. This notable uptrend represents a cumulative gain of 54% within just five sessions.

The surge in Wardwizard Innovations' share price closely follows the company's significant announcement on 7 June. The company revealed that it had secured a substantial order valued at US$ 1.3 billion (bn) (approximately Rs 107.7 bn) from Beulah International Development Corporation, a prominent firm based in the Philippines.

Under this agreement, Wardwizard will supply electric two-wheelers and three-wheelers across both commercial and passenger segments.

Additionally, the company will embark on the development of four-wheeler commercial vehicles specifically tailored for the Philippine market.

This order, as detailed in the company's exchange filing, marks the initiation of a strategic collaboration formalized through a Memorandum of Understanding (MoU).

Tata Motors Jumps 2%. Here's why

Moving on, Tata Motors jumped 2% after management gave a positive outlook for the coming quarters.

The country's largest EV player is confident of achieving financial stability by becoming net debt-free by fiscal year 2025. Additionally, the Nexon maker has set a target of achieving a market share of over 25% across various segments.

Looking ahead, Tata Motors is focused on electric vehicle (EV) development, with plans to reach EV EBITDA breakeven by fiscal year 2026. Moreover, the company aims for a consolidated 10% EBITDA for its passenger vehicle (PV) and EV operations by FY30, emphasising a long-term commitment to profitability and sustainability. EBITDA is earnings before interest tax, depreciation and amortisation.

On the other hand, its British subsidiary Jaguar Land Rover (JLR) May sales increased by 29% year-on-year, reaching 6,093 units, compared to 4,732 units sold in May last year.

For more, check out Prediction: These Could be the Best-Performing Value Stocks Through 2030.

Ixigo IPO Subscribed 4.2x

Moving on, the initial public offering (IPO) of Le Travenues Technology, which operates the travel booking platform ixigo, continued to witness robust investor interest on the second day of bidding on 11 June after the offer was subscribed 4.2 times.

Investors subscribed for 184.8 m shares as against the offer size of 43.7 m shares, the subscription data showed.

Retail investors were at the forefront, bidding 11.58 times the allotted quota, followed by Non-institutional investors (NIIs)/HNIs who have bought 7 times the reserved portion.

The portion set aside for qualified institutional buyers (QIBs) was booked 0.4 times. The IPO, with a share price range of Rs 88-93, will conclude on 12 June.

The IPO comprises a fresh equity sale of Rs 120 crore and an offer for sale (OFS) of up to 66.6 m shares.

Under the OFS, SAIF Partners, Peak XV Partners, Aloke Bajpai, Rajnish Kumar, Micromax Informatics, and Placid Holdings will offload part of their stakes.

Net proceeds from the public offer are proposed to be utilised for funding working capital requirements, investments in tech, funding inorganic growth through acquisitions and other strategic initiatives and general corporate purposes.

The company has fixed a price band of Rs 88-93 per share, where investors can bid for 161 shares in one lot and multiples thereafter.

For more details, check out Ixigo IPO: 5 Things to Know.

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

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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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