Sensex Today Ends 52 Points Higher | Nity Tops 24,600 | Alembic Pharma Rallies 10%

Tue, 16 Jul Closing

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After opening the day higher, benchmark indices pared some losses as the session progressed on and ended the day higher.

Frontline indices of the Indian stock market- the Nifty 50 and the Sensex hit intraday highs, but later pared some of its gains towards end

At the closing bell, the BSE Sensex stood higher by 52 points (up 0.1%).

Meanwhile, the NSE Nifty closed higher by 26 points (up 0.1%).

Coal India, BPCL and HUL among the top gainers today.

NTPC, Reliance Industries and Kotak Mahindra the other hand, were among the top losers today.

The GIFT Nifty was trading at 24,664, up by 9 points, at the time of writing.

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

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list

The BSE MidCap index ended 0.3% lower and BSE SmallCap index ended 0.3% higher.

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

Shares of Torrent Pharma, Lupin and Colgate 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 83.59 against the US$.

Gold prices for the latest contract on MCX are trading 0.4% higher at Rs 73,732 per 10 grams.

Meanwhile, silver prices were trading 0.5% higher at Rs 93,070 per 1 kg.

Speaking of the stock market, there is set to be a wide demand supply gap in power availability over the next decade. So, most power producers are betting on an attractive increase in merchant power tariffs over next five years.

And therefore, there is an unwillingness to sign long term power purchase agreements (PPAs) at relatively lower prices.

So, what does it mean?

Tanushree Banerjee, Research Analyst in her latest video talks hidden opportunities for long term investors.

Tune into below video for more details.

Bajaj Auto Q1 Results

In news from the auto sector, Bajaj Auto reported on Tuesday, 16 July 2024 that its Q1 FY25 consolidated net profit rose 18% on-year to Rs 19.4 bn, thanks to consistent demand, robust 2-wheeler sales and higher realisations.

The Pune-based automaker's revenue during the April-June quarter jumped 16% on-year to Rs 119.3 bn, aided by robust vehicle sales and record spares revenue, leading to a higher average selling price (ASP).

The Rajiv Bajaj-led company sold 11,02,056 units of vehicles in the June 2024 quarter, a growth of 7% as against 10,27,407 units sold in the same quarter last year.

The company's earnings before interest, tax, depreciation and amortisation (EBITDA) in Q1FY24 went up by 24% to Rs 24.2 bn from Rs 1,954 crore, while the operating margin improved by 130 basis points (bps) to 20.2% from 19% YoY.

The company claimed that this was driven by better realisation and cost reduction, which more than offset the drag from the growing e2W business;

The company saw healthy export growth, with revenue rising in double-digit on-year. The homegrown automaker stated that the export revenue grew double-digit YoY, with LATAM clocking its highest ever and an uptick in Asia alleviating challenges in Africa.

Why Paytm Share Price is Falling

Moving on to news from the fintech sector, shares of One 97 Communications (Paytm) declined 2% to Rs 461.1 in Tuesday's trade on BSE after the company received an administrative warning letter from market regulator SEBI.

The Securities and Exchange Board of India (SEBI) stated that certain transactions in FY22 between Paytm and the now-defunct Paytm Payments Bank were conducted without approval from the company's audit committee or its shareholders.

In response to the SEBI administrative warning, Paytm said that it has consistently adhered to all listing regulations and will address SEBI's concerns with a detailed response.

SEBI's administrative warning, detailed in a letter dated 15 July 2024, and uploaded by One 97 Communications on the exchanges on Monday, focuses on related party transactions valued at Rs 3.2 bn and Rs 360 m, respectively.

SEBI's letter said that the transactions between Paytm and PPBL did not have formal approvals.

SEBI instructed Paytm to present the letter to its board for corrective actions and to provide a report on the measures taken within 10 days thereafter.

Vedanta Upsizes QIP

Vedanta Ltd, which had launched a qualified institutional placement (QIP) on Monday of Rs 66.9 bn (US$ 800 million) has further increased its size of offering to Rs 85 bn (US$ 1.14 billion) on the back of strong demand from investors.

The metals-to-oils conglomerate announced that its fundraising committee had approved the QIP's launch at a floor price of Rs 461.26 per share.

The company also added that it may offer a discount of not more than 5% on the floor price for the issue. The board of the natural resources major had, in May, approved fundraising of up to Rs 85 bn, which then got shareholder approval in June.

The QIP initially aimed to raise US$ 600 million (Rs 50.1 bn), with an option to raise an additional US$ 200 m (Rs 16.7 bn) in case of oversubscription, according to sources. The base issue has seen demand from domestic and international investors at twice the initial amount. As a result, the size has been increased to the maximum approved amount.

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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