Sensex Today Ends 72 Points Lower | Nifty Below 25,400 | Jubilant Pharmova Jumps 12%

Fri, 13 Sep Closing

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After opening the day lower, Indian benchmark indices remained volatile as the session progressed but ended the day lower.

Sensex, Nifty swing between gains and losses following a strong rally to all-time highs in the previous session.

At the closing bell, the BSE Sensex stood lower by 72 points (down 0.1%).

Meanwhile, the NSE Nifty closed lower by 32 points (down 0.1%).

Bajaj Finserv, Axis Bank and Wipro among the top gainers today.

Adani Ports, ITC and Coal India on the other hand, were among the top losers today.

The GIFT Nifty was trading at 25,378 up 30 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 0.5% higher and BSE SmallCap index ended 0.9% higher.

Sectoral indices were trading mixed with socks in consumer durables sector and realty sector witnessing buying speer. Meanwhile stocks in oil & gas sector and energy sector witnessed selling pressure.

Page Industries, Bajaj Auto and Info Edge 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 83.90 against the US$.

Gold prices for the latest contract on MCX are trading 0.4% higher at Rs 73,140 per 10 grams.

Meanwhile, silver prices were trading 0.7% higher at Rs 87,729 per 1 kg.

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Why HPL Electric Share Price is Rising

In news from the engineering space, shares of HPL Electric surged over 2% to Rs 613 per share on September 13 after it secured a new order worth Rs 144 crore for the supply of smart meters and conventional meters. The company has yet to share further details about the order, such as the timeline or location.

So far this year, the stock of this electrical equipment maker more than doubled or zoomed over 140%, beating benchmark Nifty 50's 15% surge. Earlier, it had hit a 52-week high of Rs 694 apiece on 22 August 2024.

Earlier in July, the company won a letter of award for smart meters. The order was valued at Rs 20 bn and had been received from HPL Electric's regular leading customers.

HPL Electric & Power, a leading electrical equipment manufacturer, has established a strong foothold over the past 40 years, specialising in five key product categories: metering solutions, modular switches, switchgear, LED lighting, and wires and cables.

HPL operates seven manufacturing facilities and two research and development (R&D) centres in India, bolstered by an efficient supply chain and a vast distribution network of over 900 dealers and 45,000 retailers. The company is ambitiously targeting an expansion to 100,000 retailers by March 2025.

Gravita India Jumps 9%. Here's Why

Moving on to news from the steel sector, shares of Gravita India were trading 9% higher to Rs 2,538 in the afternoon of 13 September after over 6 lakh shares changed hands in trade, double the one-week and one-month average of 3 lakh shares each.

The rise in volumes comes just a day after the company announced it acquired its first recycling unit in Europe.

To be sure, the stock has extended gains for the second trading session and gained over 12% during the same period. Gravita India recycles lead, lead products, plastic, and aluminium. They also manufacture lead metal and lead products, aluminium alloys, and plastic granules.

Its step-down subsidiary Gravita Netherlands BV executed a Memorandum of Understanding (MOU) to acquire a waste tyre recycling plant in Romania from an existing entity based out in the country having a capacity of approx 17,000 MTPA.

Gravita Netherlands BV (GNBV) will undertake this acquisition by setting up a separate Special Purpose Vehicle (SPV) in Romania, where it will hold 80% equity with management control, while the remaining equity will be held by other partners based in Romania.

The total investment in this transaction is estimated at approximately Rs 40 crore, with GNBV contributing around Rs 32 crore, subject to comprehensive financial, environmental, and legal due diligence.

GNBV also plans to expand its recycling business operations across the European market, leveraging new opportunities and forming strategic partnerships to drive growth.

Gravita India is one of the largest lead producers in India. The company produces leads, zinc, and copper alloys and has recently introduced the plastic recycling division, widely used across industrial sectors.

SpiceJet Jumps 10% Today.

Moving on to news from the airline sector, shares of low-cost airline SpiceJet hit a seven-month high on 13 September on strong trading volumes, rising by over 10% as news flow in the company continues to remain active.

The airline moved the Supreme Court on September 12, challenging a Delhi High Court order by a single-judge bench, dated August 14, that had grounded three aircraft engines for defaulting on payment to lessors.

Aside from that, on September 10, the airline finalised a debt restructuring deal with Carlyle Aviation to write off lease arrears.

As part of the deal, Carlyle also invested $20 million in SpiceXpress, converting lease arrears into compulsorily convertible debentures.

Carlyle also turned US$ 30 m of debt that SpiceJet owed into equity at Rs 100 per share.

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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