Sensex Today Trades Lower | Nifty Below 25,000 | Cummins India Down 4%

Fri, 11 Oct 10:30 am

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Asian markets traded mostly higher after South Korea's central bank delivered its first interest rate cut since March 2022.

Japan's Nikkei 225 rose 0.3%, while the Topix gained 0.2%

US stock market indexes ended lower on Thursday after higher-than-expected inflation data.

Here's a table showing how US stocks performed on Thursday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	163.18	0.12	0.07%	164.31	161.64	193.3	121.46
Apple	229.04	-0.5	-0.22%	229.5	227.17	237.23	164.08
Meta	583.83	-6.68	-1.13%	590.23	582.52	602.95	279.4
Tesla	238.77	-2.28	-0.95%	242.79	232.34	271	138.8
Netflix	730.29	2.86	0.39%	733.85	722.5	733.85	344.73
Amazon	186.65	1.48	0.80%	188.13	185.83	201.2	118.35
Microsoft	415.84	-1.62	-0.39%	417.35	413.15	468.35	324.42
Dow Jones	42454.12	-57.88	-0.14%	42511.37	42308.04	42628.32	32327.2
Nasdaq	20241.76	-27.1	-0.13%	20314.24	20117.2	20690.97	14058.33

Source: Equitymaster

At present, the BSE Sensex is trading 62 points lower and NSE Nifty is trading 10 points lower.

Trent, Wipro and Hindalco among the top gainers today.

Cipla, ICICI Bank and Asian Paints the other hand are among the top losers today.

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.

Broader markets are trading on positive. The BSE Midcap index and the BSE Smallcap index is trading marginally higher.

Sectoral indices are trading mixed today with stocks in metal sector and IT sector witnessing buying. Meanwhile stocks in realty sector and power sector are witnessing selling pressure

The rupee is trading at Rs 83.96 against the US dollar.

In commodity markets, gold prices are trading 0.7% higher at Rs 75,841 per 10 grams 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...

Speaking of the stock market, the aggressive expansion plans of the retailing sector players are not without reason. The sector is witnessing strong growth driven by increased urbanization and demand for organised and high-quality retail spaces.

This is fuelled by the rising demand for big brands thanks to their reach on social media.

This highlights India's emergence as a key player in the global retail market.

Research Analyst, Tanushree Banerjee in her latest video talks about, can top retailing stocks like Trent continue to fetch steep valuations? Find out.

Tune in for more

TCS Q2 Results

Tata Consultancy Services (TCS) posted a 1.1% quarter-on-quarter (QoQ) fall in net profit for the second quarter ended September to Rs 119.1 bn, missing Street expectations. India's largest IT service firm's Q2 FY24 revenue from operations rose to Rs 642.6 bn.

TCS also declared the second interim dividend of Rs 10 per share. The IT bellwether has already fixed Friday, 18 October 2024 as the record date to determine the eligibility of shareholders for the corporate action. Earlier, the company paid an interim dividend of Rs 10 on 19 July 2024.

Revenue growth was led by Energy, Resources and Utilities sectors.

The IT major's Q2 operating margin was at 24.1%, narrowing from 24.7% in the preceding quarter. The net margin was 18.5%. TCS added a net of 5,726 employees during the quarter. As of H1FY25, TCS added around 11,000 associates after a year of reduced hiring.

Analysts had expected the Tata group IT giant's Q2 revenue to be driven by the ramp-up of key deals, particularly its ongoing partnership with BSNL, and the net profit to be bolstered by robust deal execution and the growth in North America, BFSI, and retail.

Rightly so, among geographies, India grew by 95.2% YoY in CC terms driven by the execution of the BSNL deal. TCS's second-quarter earnings come amid the scaling of its Rs 150 bn BSNL deal. The deal involves establishing data centres and 4G sites across India and laying the foundation for future 5G infrastructure.

IREDA Q2 Profit Jumps 36%

Indian Renewable Energy Development Agency (IREDA) on Thursday, October 10 reported a net profit of Rs 3.9 bn for the quarter ended 30 September 2024, up over 36% uptick from Rs 2.8 bn reported in the year-ago period. The net profit figure is also marginally higher than the Rs 3.8 bn it reported during the June quarter.

The total income jumped 38.5% to Rs 16.3 bn in the quarter under review as against Rs 11.8 bn logged in the corresponding quarter of the previous financial year.

In the June quarter, the revenue from operations stood at Rs 15.1 bn.

Net interest income the difference between a lender's income from lending activities and interest paid to depositors-stood at Rs 5.5 bn in Q2FY25, a 52% YoY jump from the Rs 3.6 bn reported in the corresponding quarter last year.

Meanwhile, IREDA's Gross Non-Performing Assets (NPA) remained at 2.2%. The Net NPA saw a slight increase, rising to 1% in Q2FY25 from 0.9% in the previous quarter (Q1FY25).

The renewable energy financier's debt-equity ratio also remained relatively stable, standing at 5.9x compared to 5.8x in the June quarter.

Additionally, the company reported a whopping 303% increase in loan sanctions in the first half of the current financial year, sanctioning Rs 178.6 bn worth of loans compared to Rs 44.4 bn sanctioned during the same period last year.

Mazagon Dock Bags New Order

State-run Mazagon Dock Shipbuilders Ltd on Thursday (October 10) announced the receipt of a purchase order from Maharashtra State Power Generation Company Ltd (MAHAGENCO) for the supply, installation, and commissioning of an AI-based comprehensive infrasecure project.

The total contract value is approximately Rs 1.2 bn, inclusive of all taxes and duties. The project will be implemented at two locations: GTPS-Uran and KGSC-Pophali.

In addition to the initial project scope, Mazagon Dock will also provide annual maintenance contracts (AMC) for the installed items after the first year.

The company is expected to complete the execution of the order by 10 October 2025.

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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