Sensex Today Trades Flat | MTAR Technologies Tanks 9% | HUL & Tech Mahindra Top Losers

Thu, 9 Nov 10:30 am

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Asian share markets rallied on Thursday and the dollar was weaker after most US stocks edged higher and the S&P 500 recorded its longest winning streak in two years.

The Nikkei is trading 0.9% higher while the Hang Seng index is jumped 0.1%. The Shanghai Composite is trading marginally higher.

US stocks rose on Wednesday eked out small gains on Wednesday to extend their recent winning streaks as investors weighed Federal Reserve officials' recent comments.

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	133.26	0.86	0.65%	133.54	132.16	142.38	85.57
Apple	182.89	1.07	0.59%	183.45	181.59	198.23	124.17
Meta	319.78	0.96	0.30%	321.33	314.88	330.54	100.74
Tesla	222.11	-0.07	-0.03%	224.15	217.64	299.29	101.81
Netflix	436.65	2.04	0.47%	438.07	433.68	485	254.22
Amazon	142.08	-0.63	-0.44%	143.12	141.22	145.86	81.43
Microsoft	363.2	2.67	0.74%	363.87	360.55	366.78	219.35
Dow Jones	34112.27	-40.33	-0.12%	34252.75	33996.2	35679.13	31429.82
Nasdaq	15313.24	17.22	0.11%	15343.19	15220.89	15932.05	10671.19

Source: Equitymaster

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

At present, the BSE Sensex is trading lower by 50 points. Meanwhile, the NSE Nifty is trading up by 18 points.

M&M and Apollo Hospital are among the top gainers today.

HUL and HDFC Life on the other hand are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index and the BSE Small Cap index is trading higher by 0.3%.

Sectoral indices are trading mixed with stocks in the realty sector and auto sector are witnessing buying. Meanwhile, stocks in FMCG sector and POWER sector witness selling.

Shares of Lupin and Sobha hit their 52-week high today.

The rupee is trading at Rs 83.26 against the US dollar.

In commodity markets, gold prices are trading 0.2% lower at Rs 59,883 per 10 grams today.

Meanwhile, silver prices are trading 1% lower at Rs 70,338 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, Co-head of Research at Equitymaster Tanushree Banerjee talks about the possibility of Sensex at 50,000 in 2024, in her latest video.

With most of the positives priced in, any negative shocker, especially like the macro variables, could cause a huge dent in the index next year.

Watch the below video for more:

Raymond Q2 Profit Rises Marginally

Textile, apparel, and real estate conglomerate Raymond Ltd on Wednesday reported a marginal rise in its net profit to Rs 1.6 billion (bn) for the September quarter from Rs 1.5 bn in the previous year.

While the profit growth was modest, it came amid a delayed festive and wedding season, which typically contributes significantly to the company's sales.

Revenue from operations grew by 4% year-on-year to Rs 22.5 bn from Rs 21.7 bn in the same period previous quarter.

The company's EBITDA (earnings before interest, taxes, depreciation, and amortization) stood at Rs 3.8 bn, up 7% from Rs 3.6 bn in the previous year.

The branded textile segment saw a stable top-line performance during the September quarter, with sales of Rs 9.3 bn, compared to Rs 9.1 bn last year.

The quarter saw a reduced offtake due to postponed festivals and wedding dates, further impacted by the presence of an additional month (adhik maas) in the Hindu calendar this year. Despite these factors, the segment maintained a healthy EBITDA margin of 22.1%.

The branded apparel segment achieved significant growth in the second quarter of fiscal year 2024, with sales reaching Rs 4.4 bn, an impressive 18% increase compared to Rs 3.7 bn in the same quarter last year.

This remarkable growth is attributed to the exceptional performance of the company's retail stores and the large format stores (LFS) channel.

During the September quarter, total booking value was Rs 6.5 bn in the launched projects with 85% of total units in Ten X Habitat, 89% of total units in The Address by GS, 44% of launched units in TenX Era, 49% of launched units in The Address by GS 2.0 and 25% of launched units in Invictus by GS project being sold.

The company has recently forayed into these high-potential sunrise sectors and it could have a lot of potential for investors to look forward to. For more details, check out Top High Growth Sectors that Raymond is Tapping. Investors Take Note...

Tata Power Q2 Results

Tata Power Company, on 8 November, declared a consolidated net profit of Rs 10.2 bn for the second quarter of FY 24, registering an on-year growth of 8.8% over a consolidated profit of Rs 9.4 bn last year.

The profit was driven by higher revenue from the company's core businesses of generation, transmission and distribution.

The consolidated revenue for the Tata Group company increased nine per cent to Rs 154.4 bn compared to Rs 141.6 bn during the same period last year. The company attributed its strong financial performance to its healthy balance sheet, operational excellence, and synergies across all business clusters.

The earnings before interest, taxes, depreciation and amortisation (EBITDA) jumped 51% to Rs 30.9 bn, resulting in an all-time high EBITDA of Rs 60.9 bn in the first six months of FY24.

The company's clean energy portfolio achieved the milestone of 5,500 MW during Q2 FY24, standing at 38% of total installed generation capacity.

As you're interested in Tata group stocks, check out the new section in our Stock Screener, where you can view the fundamentals of companies within a business group in one screen, including the Top Tata group stocks.

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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