Sensex Today Trades Lower | Aster DM Jumps 7% | TCS & Nestle Top Losers

Thu, 12 Oct 10:30 am

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Asian shares rose on Thursday as markets wagered that US rates have peaked after more dovish remarks from Federal Reserve officials.

Meanwhile traders awaited the US consumer inflation report later in the day for further monetary policy clues.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.7% to the highest level in three weeks. Tokyo's Nikkei rallied 1.3%

Wall Street closed higher after Federal Reserve minutes showed a growing sense of uncertainty around the path of the US economy, with volatile data and tightening financial markets posing risks to growth and leading policymakers to extend a rate pause last month.

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

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	141.7	2.5	1.80%	142.22	139.84	142.22	83.45
Apple	179.8	1.41	0.79%	179.85	177.6	198.23	124.17
Meta	327.82	5.98	1.86%	328.84	322.95	328.84	88.09
Tesla	262.99	-0.63	-0.24%	268.6	260.9	299.29	101.81
Netflix	365.93	-7.39	-1.98%	377.81	365.34	485	211.73
Amazon	131.83	2.35	1.81%	132.05	129.61	145.86	81.43
Microsoft	332.42	4.03	1.23%	332.82	329.14	366.78	213.43
Dow Jones	33804.87	65.57	0.19%	33882.55	33612.25	35679.13	28660.94
Nasdaq	15241.12	109.6	0.72%	15248.22	15119.62	15932.05	10440.64

Data Source: Equitymaster

Back home, Indian share markets are trading on a negative note.

At present, the BSE Sensex is trading lower by 97 points. Meanwhile, the NSE Nifty is trading lower by 22 points.

Hindalco, Grasim industry and BPCL are among the top gainers today.

TCS, Nestle and Cipla on the other hand are among the top losers today.

Broader markets are trading positively. The BSE Mid Cap index is trading 0.3% higher and the BSE Small Cap index is trading up by 0.5%.

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

The rupee is trading at Rs 83.14 against the US dollar.

In commodity markets, gold prices are trading 0.2% higher at Rs 58,045 per 10 grams today.

Meanwhile, silver prices are trading 0.4% higher at Rs 69,700 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, If someone had told me back in March 2020 that the Indian stock market could give rise to multiple 10-bagger stocks over the next 3-5 years, I would have had a hard time believing it.

Even more hard to believe would have been the prediction that Gujarat Mineral Development Corporation or GMDC as it is popularly known as, would be one of the 10-baggers.

Yes, that's right. GMDC has had a stellar run since its March 2020 lows and is up a whopping 12x since then. So, it has gone one step ahead and has ended up being an impressive 12-bagger.

To be honest, the movement in the stock price has caught most investors by surprise. However, is the euphoria justified? Have the valuations run far ahead of fundamentals?

Cohead of Research, Rahul Shah answers this in the below video.

Delta Corporation Q2 Results

Mumbai-based casino and gaming company Delta Corp on Wednesday (11 October) reported a 1.6% year-on-year (YoY) jump in net profit at Rs 694 m for the second quarter.

In the corresponding quarter last year, Delta Corp posted a net profit of Rs 683 m.

In the second quarter, its revenue from operations stood at Rs 2.7 bn during the period under review, up 0.2% from the corresponding period of the preceding fiscal.

At the operating level, EBITDA was flat at Rs 1 bn in the second quarter, a corresponding period in the previous fiscal.

The EBITDA margin stood at 37.1% in the reporting quarter compared to 37.2% in the year-ago period. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The company has also appointed Anil Malani as its president and chief financial officer (CFO), effective from 11 October 2023. Malani brings to the table over 35 years of extensive experience spanning a diverse range of industries.

His career has been marked by remarkable contributions to the hospitality, entertainment, IT, consumer electronics, office automation, and renewable energy sectors.

Further, Delta has appointed Manoj Jain as its chief operating officer (COO), commencing his role on 11 October 2023.

With a career that has been closely intertwined, with the Delta Corp family since July 2008, Jain has played a crucial role in the organisation's growth.

Delta Corp shares crashed around 18% to hit a low of Rs 140 on 25 September 2023.

For more, check out Delta Corp: Is it Time to be Greedy When Others Are Fearful?

JSW Steel wins Karnataka iron ore mine

JSW Steel on Wednesday said it has emerged as the preferred bidder for the Jaisinghpura North Block iron ore mine in Karnataka.

JSW Steel has received a communication from the Karnataka government in this regard.

The highest final offer price by the company to become a Preferred Bidder is 150.3% of the value of the mineral dispatched. The projected iron ore resource is 17.66 in MMT (metric million tonnes).

The company will take all requisite steps as per the tender document to obtain a letter of intent, and all statutory clearances to execute the Lease Deed with Mine Development and Production Agreement (MDPA) and start the mining operations.

Part of JSW Group, JSW Steel is a leading steel-making company in India.

With domestic steel demand robust across sectors, driven by constructions and railways, JSW is all set to enjoy sectoral tailwinds. For more, check out Why JSW Steel Share Price is Rising.

Jindal Power submits EoI for grounded Go First

Jindal Power has reportedly expressed interest in buying the beleaguered low-cost Go First carrier, which is owned by the Wadia family and is the first commercial airline in India to have voluntarily sought bankruptcy protection.

The expression of interest (EoI) was submitted by unlisted Jindal Power, owned by Worldone Pvt Ltd, a closely held company of Jindal.

The sources, however, did not give any clarity on whether Jindal Power was seeking to acquire the airline outright or come in as a strategic investor in Go First.

There were two other bidders for the airline but did not meet the eligibility criteria set out by the creditors, suggesting that their bids were not considered for further evaluation in the acquisition process of Go First.

In July, Go First's resolution professional invited EoIs for the carrier's sale.

The crisis-hit airline is facing significant financial challenges with more than Rs 200 bn in admitted claims from creditors.

The promoter of Jindal Steel and Power has been diversifying his business interests in recent years, expanding his privately held business empire and exploring new ventures.

Jindal Power stands in the list of Top 5 Steel Companies in India by Growth.

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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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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