Category: BUSINESS

• Market
• Corporate
• Share market
• Personal Finance

IndusInd Bank remains the top loser in the Nifty 50. Its shares fell 18.54 per cent to Rs 1,042.70 on Friday. The lender had reported a 39 per cent year-on-year decline in net profit for the quarter ended September 2024.

In Q2 FY25, the Adani Group company clocked Rs 326 crore in standalone profit (PAT), up from Rs 324 crore in Q1 FY25. In the quarter, the company saw an 18 per cent surge in revenue at Rs 14,460 crore (year-on-year).

Cement and building materials leader ACC Ltd, part of the diversified Adani Group, on Thursday reported the highest quarterly revenue at Rs 4,614 crore, up 4 per cent (year-on-year).

Adani Energy Solutions Limited (AESL) on Tuesday reported an impressive 172 per cent surge in net profit at Rs 773 crore in the July-September quarter (Q2) this fiscal.

At the same time, the NSE Nifty closed at 24,781.10 after falling 72.95 points or 0.29 per cent. The Nifty Midcap 100 index closed in red at 57,677.70 after slipping 971.45 points or 1.66 per cent. The Nifty Smallcap 100 index closed at 18,797.40 after falling 280.40 points or 1.47 per cent.

Despite a sustained selling pressure from the foreign institutional investors (FIIs) amid geo-political tensions this week, the long-term outlook for the domestic market remains robust with a stability in growth and a pickup in capex, experts said on Saturday.

Ola Electric’s stock continued to tank and closed at a record low of Rs 86.95. After making its public debut at Rs 76 apiece, the Bhavish Aggarwal-run EV company’s stock once reached an all-time high of Rs 157.40.

Real estate remained the most preferred asset class for investment among 59 per cent of Indians in the first half this year, as 57 per cent of investors said they are buying premium properties to earn rental income, driven by surging rental rates in cities, according to a report on Friday.

The Indian benchmark indices closed in red on Thursday as there was a weak sentiment in the market due to lower corporate earnings. The BSE Sensex closed at 81,006.61 after slipping 494.75 points or 0.61 per cent.

The BSE Sensex began trading at 81,707.38 after rising 206.02 points or 0.25 per cent in early trade. At the same time, the NSE Nifty was trading at 24,986 after rising 14.70 points or 0.06 per cent.

Adani Green Energy Ltd (AGEL), Adani Group’s renewable arm and India’s largest renewable energy company, has deferred its $1.2 billion IG rated offering to after the US presidential elections on account of weak market conditions.

The Nifty Midcap 100 index closed in the green mark at 59,593.25 after rising 127.80 points or 0.21 per cent. The Nifty Smallcap 100 index closed at 26,149.10 after slipping 48.80 points or 0.19 per cent. Nifty Bank closed at 51,906.00 after gaining 89.10 points or 0.17 per cent.

The BSE Sensex reached 82,189.42 after rising 216.37 points or 0.26 per cent in early trade. At the same time, NSE Nifty was trading at 25,189.25 after gaining 61.30 points or 0.24 per cent.

Adani Energy Solutions Ltd (AESL) on Monday reported an increase in its project pipeline from Rs 17,000 crore in the first quarter of the current fiscal to Rs 27,300 crore in the second quarter (Q2 FY25). 

The ruling party’s stronger-than-expected performance in the assembly elections brought a degree of optimism to the domestic stock market this week amid global geo-political uncertainties, analysts said on Saturday.

India's foreign exchange (Forex) reserves stood above $700 billion for the second-consecutive week, data from the Reserve Bank of India (RBI) showed on Friday.

Bharti Airtel, Bajaj Finance, Asian Paints, Bajaj Finserv, ICICI Bank, HDFC Bank, Kotak Mahindra Bank, Axis Bank, NTPC, UltraTech Cement, Maruti Suzuki, HUL, Nestle and SBI were top losers.

Indian frontline indices closed with marginal gains on Thursday ahead of the Q2 results of the country's largest IT services firm, TCS, to be released later in the day.

The unified payments interface (UPI)-based transactions volume surged 52 per cent to 78.97 billion in the first half this year (H1 2024), from 51.9 billion in the same period last year, a report showed on Thursday.

The collective wealth of India’s 100 richest tycoons surpassed the trillion dollar milestone for the first time as more than 80 per cent of the country’s richest tycoons are now wealthier than they were a year ago, a Forbes report showed on Thursday.

Indian equity benchmark closed on a positive note, on the back of election results which supported PSU stocks and brought optimism in the market.

The RBI’s monetary policy committee (MPC) meeting from October 7-9 is unlikely to cut the benchmark interest rate and a dovish tone could set the direction moving forward, industry experts said on Sunday.

In fresh trouble for embattled carrier SpiceJet, the Economic Offence Wing (EOW) of the Delhi Police has filed a case against its Managing Director Ajay Singh and other top officials for cheating and criminal conspiracy by failing to remit its share of provident fund (PF) of more than Rs 65.7 crore.

Despite geo-political uncertainties, the investors' confidence remained intact in India's growth story as the country's foreign exchange reserves surpassed $700 billion for the first time, reaching $704.89 billion in the week ending September 27, the Reserve Bank of India (RBI) data showed on Friday.

Indian investors have lost over Rs 14 lakh crore in the last two trading sessions as all listed companies' market cap on the Bombay Stock Exchange (BSE) skewed to Rs 461 lakh crore which was earlier Rs 475 lakh crore.