Sensex Today Ends 326 Points Lower | Infosys & Tech Mahindra Top Losers | Reliance Power Rallies 12%

Mon, 13 Nov Closing

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After opening the day on a negative note, Indian share markets continued the downtrend as the session progressed and ended lower.

Equity benchmark indices fell on Monday as investor focus shifted to the October CPI inflation data, slated for release after market hours today.

At the closing bell, the BSE Sensex stood down by 326 points (down 0.5%).

Meanwhile, the NSE Nifty closed lower by 82 points (down 0.4%).

Coal India, Hindalco and BPCL were among the top gainers today.

Infosys, Tech Mahindra and Apollo Hospital on the other hand, were among the top losers today.

The GIFT Nifty was trading at 19,493, down by 47 points, at the time of writing.

Broader markets ended on positive note. Both the BSE MidCap index and the BSE SmallCap index ended flat.

Sectoral indices ended mixed with stocks in the metal sector and energy sector witnessing most of the buying. Meanwhile stocks in the realty sector and IT sector witnessed selling.

Shares of Solar Industries, Trent and DLF hit their respective 52-week highs 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...

Asian share markets ended in the positive territory. The Shanghai Composite ended 0.3% higher, while the Nikkei index ended marginally higher. Meanwhile Hang Seng ended 1.3% higher.

The rupee is trading at 83.3 against the US$.

Gold prices for the latest contract on MCX are trading 0.1% lower at Rs 59,689 per 10 grams.

Meanwhile, silver prices are trading 0.8% lower at Rs 69,480 per 1 kg.

Speaking of stock markets, Co-head of Research at Equitymaster Rahul Shah talks about taking more exposure to stocks right now or waiting for the markets to correct, in his latest video.

Tune in for more.

Why Power Mech Projects Share Price is Falling

In news from the engineering sector, Power Mech Projects shares fell 2.6% in early trade on 13 November despite the infrastructure company reporting a 20% year-on-year jump in consolidated net profit.

Net profit clocked in at Rs 513 million (m) in the quarter ended September FY24, backed by operating and topline numbers.

Power Mech Projects revenue from operations grew by 20.9% YoY to Rs 9.3 bn in Q2 FY24. The basic earnings per share (EPS) from continuing operations came in at Rs 34.4 over Rs 29.7 in the corresponding quarter a year ago.

On 31 October, Power Mech Projects won a Rs 3.6 bn order from state-owned Bharat Heavy Electricals Limited (BHEL).

Following the end of the second quarter in FY24, Power Mech Projects issued and allotted 9 m equity shares to Qualified Institutional Buyers.

For more, check out our detailed editorial on the company - This Multibagger Engineering Stock Zooms 20% In a Day. Here's All You Need to Know.

Hindustan Copper Surges 7%. Here's Why...

Moving on to news from the steel sector, shares of Hindustan Copper rallied 7% to Rs 160 on 13 November after the company's net profit more than doubled in the second quarter of fiscal 2023-24.

In Q2FY24, the company's consolidated income spurted 67% on-year to Rs 3.9 bn. The company's sales volume increased 49% over the last year in the September quarter.

The growth momentum was seen on the production front, too, with the mine production up 13% in Q2FY24 over the corresponding period last year.

The company had earlier notified that it would increase the mine production capacity to 12.2 million tonnes per annum (MTPA) by FY28-29 to implement the expansion projects. The company has access to around 55% of copper reserves and resources in India with an average grade of 0.9%.

In the September-ended quarter, foreign institutional investors (FIIs) increased their stake in Hindustan Copper to 2.1% from 1.8% in the previous quarter.

From August 2022 to August 2023, the stock has climbed 27%.

For more, check out Why Hindustan Copper Share Price is Falling.

Why Tata Chemicals Shares are Under Pressure

Moving on to news from the chemical sector, Tata Chemicals stock opened nearly 1% lower on 13 November after the company posted a 28% decline in net profit.

Tata Chemicals reported a 28% decline in consolidated net profit at Rs 4.9 bn for the second quarter of this fiscal year. Its net profit stood at Rs 6.9 bn in Q2FY24.

Income from operations fell to Rs 39.9 bn from Rs 42.4 bn in the year-ago period. Earnings before interest, taxation, depreciation and amortisation (EBITDA) were at Rs 8.2 bn, down 11%.

Tata Chemicals supplies the glass, detergent, industrial and chemical sectors.

The company has a strong position in the crop protection business through its subsidiary company, Rallis India.

In the previous quarter, the Mumbai-based company had said that a sharp fall in caustic soda prices had led to the silicate market switching to caustic soda from soda ash.

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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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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