Sensex Today Ends 52 Points Higher | Dwarikesh Sugar Soars 11% | ONGC & UPL India Among Top Gainers

Thu, 14 Sep Closing

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After opening the day on a positive note, Indian share continued the momentum as the session progressed and ended higher.

After hitting all-time highs in intraday trade on Thursday, benchmark indices took a breather and settled flat.

At the closing bell, the BSE Sensex stood higher by 52 points.

Meanwhile, the NSE Nifty closed 33 points higher (up 0.2%).

UPL, ONGC and M&M were among the top gainers today.

Asian Paints, ITC and Coal India on the other hand, were among the top losers today.

The GIFT Nifty was trading at 20,195, up by 49 points, at the time of writing.

Broader markets are trading on a positive note. The BSE Mid Cap index is trading 1% higher and the BSE Small Cap index is trading higher by 1.2%.

Sectoral indices ended on a positive note, with stocks in realty sector, oil and gas sector and metal sector are witnessing buying.

Shares of Maruti Suzuki and TCS hit their 52-week high today.

The rupee is trading at Rs 83.01 against the US dollar.

Asia-Pacific markets fell across the board as investors assess key economic data out of Japan and South Korea.

The Nikkei index ended 0.2% lower, Hang Seng index ended 0.2% higher, while the Shanghai Composite ended marginally higher.

In commodity markets, gold prices are trading 0.2% lower at Rs 58,466 per 10 grams today.

Meanwhile, silver prices are trading 1% lower at Rs 70,644 per 1 kg.

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...

Speaking of stock markets, Coal India has done well on the bourses lately.

However, can it continue its good run going forward?

Can it give the value conscious investor a good return of 50%-100% over the next 1-2 years?

Can it be the next SJVN, which has more than doubled in the last one year and where most of the gains have come in the last six months.

Rahul Shah, Co-head of research answers all this questions in video below.

Why Venus Remedies Share Price Is Rising

In news from the pharma sector, Venus Remedies shares were trading 3% higher in the morning trade of 14 September after the pharma company, in a regulatory filing, announced having registered with the union government's Department of Scientific and Industrial Research (DSIR).

This will allow the company to avail exemption from paying customs duty.

This exemption will not only enable the company to reduce production costs but also empower it to invest more in research and development, enhancing our competitiveness and expanding our global reach.

Venus Remedies is engaged in the business of pharmaceutical production.

The company specialises in producing various formulations in the therapeutic segment, including antibiotics, oncology drugs, and critical care medicines.

So far in 2023, shares of the company have rallied 35%.

Venus Remedies is among the pharma companies in India that have solid growth in sales and profits and a high Return on Equity (ROE).

Cipla Stake Sale In Doubt

Moving on, the sale of a stake in Cipla is in jeopardy as potential buyers have baulked at the Rs 1.09 tn (US$ 13.1 billion) valuation members of the founding family are targeting the Indian firm in a deal.

Negotiations between the family members and prospective buyers, including companies in the industry and private equity firms, are no longer moving forward, as the founders are demanding about Rs 1,350 per share.

The price represents a premium of about 10% over Wednesday's close.

The family members could sell some or all of their stakes in Cipla.

Deliberations are ongoing, and no final decision has been made on the deal.

The family members can still revise the asking price or decide not to proceed with the sale.

Cipla is a leading pharmaceutical player in India. The company has secured a spot within the top 5 Indian branded formulations market.

Around 40% of its revenues stem from the domestic market, while the rest is derived from exporting formulations and active pharmaceutical ingredients to countries including South Africa, emerging markets, and the United States.

For more details on the Cipla stake sale, check out Cipla Promoter Stake Sale: Billions of Dollars in Play.

It is also among the Top 5 Nifty 50 Stocks that have Beat Earnings Estimates by a Wide Margin in Q1.

Indusind Bank Launches Virtual Credit Card

Moving on to news from the banking sector, IndusInd Bank, on Thursday, announced the launch of a virtual commercial card, a credit card, that will redefine cross-border transactions for corporates and travel agents.

In partnership with Visa, the global leader in digital payments and Juspay, a payments operating system, the virtual card has additional layers of security that give users complete control over their international expenses.

With the Virtual Commercial Cards, these commercial users can generate virtual cards or credentials in foreign-denominated currencies, safeguarding the parent card number and ensuring utmost security for transactions. Each virtual card can be fully customised with transaction-specific limits and the expiry dates can be defined to ensure a secure and seamless payment experience.

Seamless Authentication in Buyer-Supplier payments is yet another innovation of Juspay, aimed at creating easy-to-use experiences that modernise spend controls for employees and for finance and procurement teams across the industry.

What separates a good bank from a bad one? NPAs and capital efficiency. To know the best banking stock, check out Equitymaster's stock screener of Top Banking Companies in India.

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

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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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Indian Share Market Update: Top Gainers and Losers