Gift Nifty Down 78 Points | PC Jeweller Gets OTS Approval | Nazara Tech Completes Moonshine Deal | Top Buzzing Stocks Today

Mon, 30 Sep Pre-Open

   Previous Close   

   10:30 am   

   Closing   

Indian benchmark indices turned negative as the session progressed and ended the day lower.

Indian equity benchmark indices, BSE Sensex and NSE Nifty50, after surging to fresh all-time highs, pared their gains to end the week's last trading session in negative territory.

At the closing bell on Friday, the BSE Sensex stood lower by 264 points (down 0.3%).

Meanwhile, the NSE Nifty closed lower by 41 points (down 0.2%).

BPCL, Cipla and Sun Pharma were among the top gainers.

HDFC Bank, ICICI Banka and Bharti Airtel on the other hand, were among the top losers.

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% higher and BSE SmallCap index ended flat.

Sectoral indices were trading positive with socks in metal sector and oil & gas sector witnessing buying. Meanwhile stocks in realty and telecom sector witnessed selling pressure.

Gold prices for the latest contract on MCX were trading 0.2% lower at Rs 76,135 per 10 grams at the time of Indian market closing hours on Friday.

At 8:00 AM today, the Gift Nifty was trading 78 points lower at 26,276 levels.

Indian share markets are headed for a negative start today following the trend on Gift Nifty.

Speaking of the stock market, even though the China+1 megatrend was relatively short lived in terms of stock market gains, India's logistics boom is here to stay.

Such a boom could play out for several decades as India's manufacturing, exports and domestic consumption continue to grow.

Tanushree Banerjee, Research Analyst talks about some niche players are the hidden and indirect beneficiaries of India's logistics boom.

Tune in for more

Top buzzing stocks today

SJVN share price will be in focus today.

SJVN shares climbed as much as 3.5% through the day so far on 27 September after the company inked two memorandum of understanding with the Government of Maharashtra for the development of Pumped Storage Projects (PSPs) and Floating Solar Projects (FSPs) in the state.

BPCL will also be a top buzzing stock.

Shares of Bharat Petroleum Corporation (BPCL) surged around 7% to hit a record high of Rs 370.5, driven by heavy volumes. So far in the day, a total of three crore shares of the company changed hands on BSE and NSE combined, compared to the one-month average trading volume of 10 m shares.

Earlier this month, BPCL said its subsidiary along with Indian Oil Corporation (IOC) has been awarded a production concession by The Supreme Council for Financial and Economic Affairs (SCFEA) in Abu Dhabi.

PC Jeweller Gets OTS Approval

PC Jeweller, on 27 September 2024, received the Bank of India's approval for a one-time settlement of its outstanding dues.

PC Jeweller's troubles began in February 2023, when banks decided to recall loans advanced to it after it was revealed in a filing that the company had defaulted on loans worth Rs 34.7 bn from banks and financial institutions.

The company, in its annual report for fiscal 2021-22, stated that it had borrowed money from 14 banks, including SBI, Indian Bank, Union Bank and Punjab National Bank. In the annual report, the company said it owed the banks Rs 32.8 bn, which included the interest and the base amount.

The largest lenders are SBI with Rs 10.6 bn outstanding, Union Bank of India with Rs 5.3 bn, Punjab National Bank with Rs 4.8 bn, and Indian Bank with Rs 2.3 bn.

PC Jeweller on 24 September said its board will meet on 30 September to consider a sub-division or stock split of its existing equity shares.

At the meeting, the board will consider and approve the alteration in the share capital by splitting the equity shares having a face value of Rs 10 into smaller denominations.

Nazara Tech Completes Moonshine Deal

Nazara Technologies has completed its Rs 1.5 bn investment into Moonshine Technology, the parent company of the online poker platform PokerBaazi.

The investment, announced on 12 September, marks the second phase of Nazara's Rs 9.8 bn deal to acquire a significant stake in Moonshine.

In the latest development, Rekha Jhunjhunwala-backed Nazara invested Rs 1.5 bn through the subscription to 2.87 lakh compulsorily convertible cumulative preference shares of Moonshine, per an allotment letter received by the company on 26 September.

Rekha Jhunjhunwala holds an 8.4% stake in Nazara Technologies, as of the last update.

Earlier, Nazara Technologies had announced its plan to acquire a 47.7% stake in Moonshine for Rs 8.3 bn. Of this, Rs 5.9 bn would be paid in cash, while Rs 2.4 bn would be paid via a share swap, representing a 3.2% stake in Nazara.

Nazara's aggressive push into online skill gaming comes at a time when the sector is grappling with significant regulatory challenges.

The 28% Goods and Services Tax (GST) on online gaming, introduced in October 2022, has been a major obstacle for companies operating in the space.

The tax, which is applied to the full value of bets placed rather than just the platform's revenue, has raised concerns about profitability and sustainability for many operators.

Despite this, Nazara has chosen to go ahead with its investments, betting on the long-term potential of the sector.

Sequent Scientific Announces Merger

Sequent Scientific and Viyash Life Sciences have announced a merger that will result in the two companies forming a combination that will create a platform with leadership in animal pharmaceuticals, end-to-end integrated capabilities across the larger global pharmaceutical market with a strong operating and research and development backbone.

Sequent Scientific is listed and Viyash Life Sciences isn't.

In the financial year 2023-24, the former had operating profits of around Rs 1 bn whereas the latter had operating profits of around Rs 1.5 bn.

Carlyle is a major shareholder in both companies.

Narayanan said the merger would help build Sequent's research and development capabilities.

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!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

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

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers