Sensex Today Ends 91 Points Higher | Nifty Above 25,400 | Ola Electric Zooms 10%

Tue, 17 Sep Closing

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On Tuesday, Indian share markets traded on a positive note throughout the trading session and ended higher.

At the closing bell, the BSE Sensex stood higher by 91 points (up 0.1%).

Meanwhile, the NSE Nifty closed higher by 34 points (up 0.1%).

Hero MotoCorp, Bajaj Auto and M&M were among the top gainers today.

Tata Motors, Adani ports and Coal India on the other hand, were among the top losers today.

The GIFT Nifty was trading at 22,462 flat at the time of writing.

The BSE MidCap index and the BSE SmallCap index ended 0.1% lower.

Sectoral indices ended mixed with stocks in the telecom sector, auto sector, IT sector and metal sector witnessing most of the buying.

While metal and capital goods stocks witnessed selling.

Shares of Dixon Technologies, Trent and Info Edge hit their respective 52-week highs today.

The rupee is trading at 83.76 against the US$.

Gold prices for the latest contract on MCX are trading down by 0.4% at Rs 73,228 per 10 grams.

Meanwhile, silver prices were trading 0.5% lower at Rs 89,203 per 1 kg.

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What it Means for HAL to Get Maharatna Status

In latest developments from the defence sector, Hindustan Aeronautics (HAL), a multibagger Defence PSU, is set to be promoted from Navratna to the prestigious Maharatna status by the government.

HAL is the undisputed king of Indian defence aviation. It's the premier aircraft manufacturer in the country. This PSU's market position is so dominant that its competitors are either non-existent or very far behind.

The "Maharatna" designation is one of the highest recognitions that a state-owned company can achieve in India.

It brings with it enhanced financial autonomy and operational freedom, allowing companies to make strategic decisions independently.

The elevation to "Maharatna" status would unlock several opportunities for HAL.

• Increased Investment Capabilities: HAL will be able to invest up to 15% of its net worth in new projects without needing prior government approval, unlocking major growth opportunities.
• Global Expansion: The company will have the authority to make foreign investments of up to Rs 50 billion (bn) independently, enabling it to pursue international partnerships and expand its global footprint.
• Mergers & Acquisitions: With greater financial flexibility, HAL can engage in mergers and acquisitions, both domestically and internationally, strengthening its market position.
• Access to Competitive Financing: The Maharatna tag will allow HAL access to better financing options, which will fuel its efforts to innovate and enhance its production capabilities in the high-tech aerospace sector.

For more, check out our latest editorial where we discussed how HAL plans to grow after getting the Maharatna status.

Why Globus Spirits Share Price is Rising

In news from the alcohol and beverage industry, shares of Globus Spirits rose 4% today following the launch of DOAAB India Craft Whisky.

This marks the company's entry into the luxury segment of the growing whisky market in India.

DOAAB India Craft Whisky is a contemporary range of limited-edition Indian whiskies, created with a spirit of exploration and experimentation, according to a release.

Globus Spirits is aiming to continuously introduce new limited-edition expressions of Indian whisky. This range is designed for an India ready to break the mold.

In the most recent quarter, the company shifted its primary raw material from rice to maize, leading to improvements in margins.

The company procured additional maize inventory to manage raw material costs in East India and expects profitability to improve by 15%-20% over the next two quarters as operations optimise with maize.

Globus Spirits is actively collaborating with traders and stockists to mitigate raw material cost volatility. The company has expanded into the Goa market, increasing its presence to seven states, with plans to offer more innovative brands in FY25.

Despite challenges from raw material pricing volatility, particularly maize, management remains optimistic about margin recovery as maize cultivation increases and operational efficiencies improve. They believe the current low margins represent the bottom, with gradual improvement expected as crop cycles stabilise.

The company aims for 20% of consumer revenue to come from the Prestige & Above segment, although the exact timeline remains uncertain due to growth in both segments.

Globus Spirits plans to strengthen distribution in existing states while cautiously expanding into new markets, maintaining a balanced growth strategy across regions.

For more, check out Globus Spirits company fact sheet and quarterly results.

And 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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