Gift Nifty Down 11 Points | HAL's Tejas to Get GE Engines | TCS Secures Ireland Pensions Deal | Top Buzzing Stocks Today

Wed, 30 Oct Pre-Open

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Indian benchmark indices turned positive as the session progressed and ended the day on positive note.

Benchmark equity indices, BSE Sensex and NSE Nifty 50, pared the early losses, to extend gains for the second consecutive session, settling in positive territory on Tuesday.

At the closing bell on Tuesday, the BSE Sensex stood higher by 364 points (up 0.5%).

Meanwhile, the NSE Nifty closed higher by 127 points (up 0.5%).

SBI, ICICI Bank and HDFC Life were among the top gainers.

Tata Motors, Maruti Suzuki and IndusInd Bank 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 and BSE SmallCap index ended 0.7% higher.

Sectoral indices were trading mixed today with socks in power sector and realty sector witnessing buying. Meanwhile stocks in auto sector and IT sector witnessing selling pressure.

Gold prices for the latest contract on MCX were 0.3% higher at Rs 78,787 per 10 grams at the time of Indian market closing hours on Tuesday.

At 7:45 AM today, the Gift Nifty was trading 11 points lower at 24,439 levels.

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

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Top buzzing stocks today

J Kumar Infra share price will be in focus today.

Shares of J Kumar Infra rose 3.5% on 29 October following the company's strong quarterly earnings for the September 2024 quarter.

The consolidated net profit increased by 23% year-on-year to Rs 902 m, while revenue from operations rose 17% to Rs 12.9 bn.

Maruti Suzuki will also be a top buzzing stock.

Maruti Suzuki India reported an 18% decline in net profit for the September 2024 quarter falling to Rs 31 bn.

The company's July-September revenue from operations rose marginally by 0.3% year-on-year to Rs 374.5 bn. India's largest carmaker's latest quarterly net profit was hit by a deferred tax liability of Rs 1,018 crore, which was partially driven by regulatory changes impacting indexation benefits and tax rates on capital gains from debt mutual funds.

HAL's Tejas to Get GE Engines

According to market reports, the much-delayed supply of the F-404 engines from GE Aerospace to Hindustan Aeronautics meant for the Tejas Mk1A light combat aircraft, is slated to begin in March.

As per a US$ 716 million (m) contract between GE and HAL, signed in August 2021, a large number of F404-IN20 engines for the Tejas Mk1A fighter aircraft were supposed to be delivered, but the supply has run into delays.

Though the reasons for the delay are officially unspecified, GE is reported to have conveyed to HAL a delay in procuring parts in the supply chain that are crucial for the engine.

In July, Defence Minister Rajnath Singh had reportedly taken up the matter of delay in the supply of GE engines with US officials during his visit in August this year.

HAL has invested in greenfield projects to augment the capacity of various programs, including the Tejas aircraft, which has been a priority for the Indian Air Force.

HAL is also preparing to augment its capacity to manufacture aircraft to expedite the delivery of these Tejas Mark 1As.

A new factory, critical for the LCA Tejas project is getting established in Nashik, which HAL said should become operational in October, in order to deliver 97 Mark 1A configuration LCAs.

This year, HAL said it is aiming to have at least one aircraft rolled out from our Nashik division to start with.

TCS Secures Ireland Pensions Deal

TCS has signed a 15-year deal to transform Ireland's pensions system, a move that would benefit 8,00,000 local workers, the IT major informed stock exchanges on 29 October.

The contract requires TCS to provide a digital solution for the automatic enrolment of workers in Ireland. TCS will oversee the scheme to enable enrolment, manage records and disbursement of benefits. The services will be delivered through TCS' Global Delivery Centre at Letterkenny, in Ireland's Donegal County.

TCS said it has delivered similar national programmes in the UK and other markets and will draw from its experience as it partners with Ireland's Department of Social Protection (DSP) for the Auto Enrolment Pensions Scheme, providing workers with a retirement savings platform called 'My Future Fund'.

TCS had in 2023 announced the partnership with National Employment Savings Trust (NEST) - UK's largest workplace pension scheme - in a US$ 1.1 billion (bn) deal over 10 years, to digitally transform administration services.

Ireland had earlier this year passed the 'Automatic Enrolment Retirement Savings System Bill', and TCS emerged as the candidate after a rigorous tender process.

Adani Enterprises Q2 Results

Adani Enterprises Q2 FY25 net profit ballooned nearly eightfold on-year to Rs 17.4 bn. The diversified conglomerate's second-quarter revenue from operations rose 16% to Rs 226.1 bn. The jump in net profit came as the revenue growth outpaced expenditure.

Adani Enterprises was expected to report a 17% year-on-year (YoY) increase in revenue at Rs 263.5 bn, and EBITDA at Rs 49 bn.

Adani Enterprises board decided to withdraw the draft scheme of arrangement with Adani Wilmar Ltd, which was approved in August 2024. The Board noted that Adani Wilmar is required to fulfil its compliance obligations regarding Minimum Public Shareholding (MPS).

Further, Adani Enterprises has also decided to raise Rs 2,000 crore via the issue of non-convertible debentures. The NCDs would be issued in one or more tranches through a public issue.

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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