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Sensex Today Trades Higher | Nifty Above 25,000 | DMart Tanks 8%, Just Dial 3%
Mon, 14 Oct 10:30 am

Sensex Today Trades Higher | Nifty Above 25,000 | DMart Tanks 8%, Just Dial 3%Image source: Chunumunu/www.istockphoto.com

Asian markets traded higher on Monday ahead of key economic data releases this week from the region.

Japan's market was shut for a holiday. South Korea's Kospi rose 0.6%, while the Kosdaq index declined 0.4%.

US stock market ended higher on Friday, with the S&P 500 and the Dow Jones scoring record closing highs.

The Dow Jones Industrial Average rallied 409.7 points, or 0.9%, to 42,863.9, while the S&P 500 gained 34.9 points, or 0.6%, to 5,815.03.

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

Stock/IndexLTPChange ($)Change (%)Day HighDay Low52-Week High52-Week Low
Alphabet164.521.340.82%165.27162.50193.30121.46
Apple227.55-1.49-0.65%229.41227.34237.23164.08
Meta589.956.121.05%591.21582.71602.95279.40
Tesla217.80-20.97-8.78%223.34214.38271.00138.80
Netflix722.79-7.50-1.03%736.00721.22736.00344.73
Amazon188.822.171.16%189.93186.30201.20118.35
Microsoft416.320.480.12%417.13413.25468.35324.42
Dow Jones42863.86409.740.97%42899.7542507.5342899.7532327.20
Nasdaq20271.9730.210.15%20313.2020142.1820690.9714058.33
Source: Equitymaster

At present, the BSE Sensex is trading 288 points higher and NSE Nifty is trading 91 points higher.

L&T, HDFC Bank and Hero MotoCorp among the top gainers today.

Cipla, Axis Bank and TCS 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 mixed. The BSE Midcap index and the BSE Smallcap index are trading flat.

Barring FMCG sector, all other sectoral indices are trading higher today with stocks in metal sector and capital goods sector witnessing most buying.

The rupee is trading at Rs 84.08 against the US dollar.

In commodity markets, gold prices are trading 0.1% lower at Rs 76,210 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, think you can time the market? Wrong. Rahul Shah, co- headed of research at Equitymaster in his latest video teaches how to use market swings to your advantage and potentially outperform the market by a significant margin.

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HAL Upgraded to Maharatna Status

Hindustan Aeronautics Limited (HAL) has been elevated to the status of Maharatna Central Public Sector Enterprise (CPSE).

The Department of Public Enterprises announced the upgrade on October 12 through a post on X (formerly Twitter), following the approval of Finance Minister Nirmala Sitharaman.

The proposal for HAL's upgrade was earlier recommended by two high-level committees: the Inter-Ministerial Committee (IMC), headed by the Finance Secretary, and the Apex Committee, chaired by the Cabinet Secretary.

HAL, which operates under the Department of Defence Production (DoDP), recorded an annual turnover of Rs 281.6 bn and a net profit of Rs 75.9 bn for the financial year 2023-24.

With this upgrade, HAL becomes the 14th Maharatna CPSE, a status that will further enhance its operational autonomy and financial powers.

Oil India was the most recent company to receive "Maharatna" status from the government, which was granted in August of last year.

India now has 14 "Maharatna" public sector undertakings (PSUs), including prominent names such as BHEL, BPCL, Coal India, GAIL, HPCL, Indian Oil, NTPC, ONGC, Power Grid, SAIL, Oil India, REC, PFC, and the recently upgraded Hindustan Aeronautics Limited (HAL).

Maharatna status grants PSUs greater autonomy, allowing them to incur capital expenditure on new purchases or replacements without any monetary limit.

Additionally, these companies are required to operate independently, without relying on budgetary support or government guarantees.

Wipro to Consider Bonus Issue

IT firm Wipro on Sunday said its board of directors will consider the issue of bonus shares at a meeting scheduled to be held on 16-17 October 2024.

Wipro is set to announce its Q2 FY25 results on 17 October 2024.

The Bengaluru-headquartered firm posted a 4.6 per cent year-on-year increase in its consolidated net profit in the June-ended quarter at Rs 30 bn. Its revenue declined 3.8 per cent to Rs 219.6 bn.

Wipro CEO and MD Srini Pallia had said that the firm is confident in its ability to execute better on bookings and profitable growth in Q2, while it continues to build on ai360 strategy and prepare its workforce for an AI-first future.

Wipro & Tech Mahindra

Avenue Supermarts Q2 Results

Avenue Supermarts, the parent company of grocery retailer DMart, witnessed a 14.2% year-on-year increase in its standalone revenue at Rs 140.5 bn for the July to September 2024 quarter.

This compares to Rs 123.1 bn in the same period last year.

The net profit for the second quarter of the 2024-25 fiscal stood at Rs 7.1 bn, a 7.9% increase from Rs 6.6 bn in the corresponding quarter of last year. The PAT margin came in at 5% in Q2FY25 compared to 5.3% in Q2FY24.

DMart parent's earnings before Interest, tax, depreciation and amortisation (EBITDA) in Q2FY25 was reported at Rs 11.1 bn, compared to Rs 10 bn in the corresponding quarter of last year.

EBITDA margin stood at 7.9% in Q2FY25 compared to 8.1% in Q2FY24.

The firm's basic earnings per share (EPS) for Q2FY25 came in at Rs 10.9, as compared to Rs 10.1 for Q2FY24.

Avenue Supermarts also reported that its total revenue for the first six months of FY25 has risen to Rs 277.6 bn, as compared to Rs 238.9 bn in the same period last year. EBITDA in H1FY25 stood at Rs 23.3 bn.

Avenue Supermarts stated that D-Mart follows Everyday low cost - Everyday low price (EDLC-EDLP) strategy that aims at procuring goods at competitive prices, using operational and distribution efficiency and thereby delivering value for money to customers by selling at competitive prices.

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


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