The Reserve Bank of India (RBI) has asked commercial banks to evaluate how new changes to the Liquidity Coverage Ratio (LCR) norms could affect their operations. This comes after concerns from banks about the stricter regulations, according to reports.
Draft Norms Under Review
The RBI is reviewing draft norms that are expected to come into effect on April 1, following approval by Governor Sanjay Malhotra. The new rules will require banks to hold more high-quality liquid assets (HQLAs), which could reduce their ability to lend. HQLAs help banks manage sudden liquidity needs during disruptions.
Reason Behind the Proposed Changes
The new LCR regulations aim to address risks like large online withdrawals inspired by events such as the collapse of Silicon Valley Bank in 2023. Banks have raised concerns with the finance ministry that these stricter norms could impact their lending capacity.
Impact on System Liquidity
The RBI has asked large commercial banks to assess the impact of the new LCR norms compared to the current system. This exercise is aimed at understanding how the proposed changes could affect overall liquidity in the banking system.
Banks May Need Significant Investment in Government Securities
If the new LCR norms are enforced without changes, banks might have to purchase ₹4-6 trillion in government securities to meet the requirements. These securities are used as HQLAs to manage liquidity in case of a crisis.
Currently, only government securities qualify as HQLAs, and the RBI has consistently rejected proposals to include the Cash Reserve Ratio (CRR) as part of these assets. This means banks will have to divert ₹4-6 trillion into government bonds, which could limit their ability to lend to businesses and individuals.
Proposed Changes to the LCR
The RBI’s draft guidelines, released in July, suggest increasing the “run-off” factor for retail deposits accessed via internet and mobile banking (IMB). The run-off factor for stable IMB deposits would rise from 5% to 10% and for less stable IMB deposits, from 10% to 15%.
Industry Concerns
Banks have requested the finance ministry to relax or delay these guidelines, fearing negative effects on credit growth. Economists have pointed out that current economic conditions, like low growth, tight liquidity, and currency depreciation, are different from when the draft rules were first proposed.
A senior economist warned that if these norms are implemented as planned, they could severely impact the banking system. More commentary on the matter is expected during the RBI’s monetary policy announcement on February 7.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Indian markets are likely to get impacted, as indicated by GIFT Nifty futures trading 45 points higher than Nifty50 futures at 23,308.
On Thursday, the markets ended in the green, with the BSE Sensex gaining 115 points (0.15%) to close at 76,520.38, while the Nifty50 advanced by 50 points (0.22%) to settle at 23,205.35.
Here are the key stocks to keep an eye on today.
Earnings Reports Today
Several companies, including ICICI Bank, NTPC, IDFC First Bank, Yes Bank, Balkrishna Industries, Gujarat Ambuja Exports, Go Fashion, JK Cement, Macrotech Developers, NTPC Green Energy, SBFC Finance, and Transport Corporation of India, are set to announce their quarterly earnings today.
Performance of Dr Reddy’s Laboratories
Dr Reddy’s Laboratories reported a 2.5% increase in Q3 net profit to ₹1,413.3 crore compared to ₹1,378.9 crore in the same period last year. Revenue grew by 15.9% to ₹8,358.6 crore, and EBITDA rose by 8.9% to ₹2,298.2 crore. However, the EBITDA margin declined to 27.5% from 29.3%.
UltraTech Cement’s Results
India’s largest cement maker, UltraTech Cement, recorded a 17.3% decline in Q3 net profit to ₹1,470 crore due to weak price realizations despite higher volumes. Revenue saw a modest growth of 2.7% to ₹17,193 crore year-on-year.
Indus Towers Sees a Strong Quarter
Indus Towers posted a significant increase in Q3 net profit, rising to ₹4,000 crore from ₹1,540 crore last year. Revenue grew to ₹7,647 crore, while the EBITDA margin improved to 92.71% from 50.31%.
HPCL Reports Robust Performance
Hindustan Petroleum Corporation Limited (HPCL) reported a sharp rise in Q3 standalone net profit to ₹3,023 crore, up from ₹630 crore in the previous quarter. Revenue climbed to ₹1,18,000 crore, and the EBITDA margin improved to 5.04% from 2.52%.
Adani Green Energy’s Growth
Adani Green Energy’s Q3 net profit increased to ₹492 crore from ₹260 crore, while revenue stood at ₹2,365 crore. However, the EBITDA margin declined to 67.7% from 72.09%.
NHPC Forms Green Energy Venture
NHPC formed a joint venture with Andhra Pradesh Power Generation Corporation (APGENCO) for green energy projects, with equal equity participation.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
On January 23, 2025, Indian Renewable Energy Development Agency (IREDA) announced that it will raise ₹5,000 crore through a Qualified Institutional Placement (QIP). The funds will be raised in 1 or more tranches. The company’s board approved this plan during its meeting.
Conditions for the Fundraise
IREDA has specified that the President of India’s shareholding, through the Ministry of New and Renewable Energy, must not decrease by more than 7% of the company’s post-issue paid-up equity share capital.
What is QIP?
A QIP allows listed companies to raise funds by issuing other securities or equity shares to QIBs (qualified institutional buyers), such as mutual funds, foreign investors, and banks. Retail investors cannot participate in a QIP.
Previous Fundraising Efforts
In September 2024, IREDA was approved to raise ₹4,500 crore through another QIP. DIPAM (The Department of Investment and Public Asset Management) approved this fresh equity issue.
Strong Performance in Q3FY25
In Q3FY25, IREDA reported a 27% increase in net profit, reaching ₹425.38 crore. Its revenue grew by 35.6%, and net interest income rose 39% year-on-year.
IREDA stock price has gained nearly 35% over the past year. Although it’s down 35% from its 52-week high of ₹310, it has risen 66% from its 52-week low of ₹121.
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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Biocon’s share price rose by 2.61% to ₹398 per share on January 23, 2025, following the company’s announcement that its board will consider raising funds through commercial papers (CPs) or other private placement methods. The board meeting is scheduled for January 27, 2025.
Fundraising Plans
The company stated that it is exploring the issuance of commercial papers or other modes of raising funds. This news positively impacted investor sentiment, leading to the stock’s increase during the day.
Credit Ratings
India Ratings and Research (Ind-Ra) has affirmed Biocon’s credit ratings. The rating for Biocon’s non-convertible debentures (NCDs) remains at ‘IND AA+/Stable,’ while the proposed commercial papers have been rated ‘IND A1+.’ The rating agency also reaffirmed the ‘IND AA+/Stable’ rating for the company’s term loan under external commercial borrowings (ECBs).
Company Overview
Biocon has a strong position in the global biosimilar market, particularly in the US and EU. The company recently completed the acquisition of biosimilars from Viatris Inc., enhancing its market share. Despite some debt reduction delays, the company expects significant product launches to improve credit metrics from FY27 onwards.
Stock Performance
Biocon’s stock has underperformed the market, falling 10% in the last 6 months and 24% in the last year. However, the BSE Sensex dropped 4.9% in the last six months but rose 7.2% over the past year.
As of 1:24 PM, Biocon share price dropped by 2.28% to ₹396.70, while the BSE Sensex was up 0.31% at 76,642.01.
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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Jupiter Wagons share price saw a rise of 2.61% on January 23, 2025, reaching an intraday high of ₹485.75. By 12:31 PM, the stock was trading 1.50% higher at ₹480.45, while the BSE Sensex was up 0.38% at 76,696.88.
Fundraising Announcement
The company announced a board meeting scheduled for January 29, 2025, to discuss plans for raising funds through various methods. These may include issuing equity shares, convertible preference shares, bonds, debentures, warrants, or other equity-linked instruments. Potential fundraising modes include private placements, qualified institutional placements (QIPs), public issues, rights issues, or preferential allotments, subject to necessary approvals.
During the same meeting, the Board will also review and approve the company’s Q3 FY25 financial results.
About Jupiter Wagons
Jupiter Wagons provides a wide range of mobility solutions, including freight wagons, locomotives, passenger coaches (LHB), metro coaches, braking systems, and commercial vehicles. The company also manufactures ISO marine containers and components such as couplers, draft gears, bogies, and CMS crossings.
Manufacturing Facilities and Partnerships
With manufacturing facilities in Kolkata, Jamshedpur, Indore, and Jabalpur, the company has fully integrated foundry operations. Jupiter Wagons has strategic partnerships with leading global firms, including Tatravagonka (Slovakia), DAKO-CZ (Czech Republic), and Frenoplast S.A (Poland), among others.
This announcement has generated investor interest, contributing to the stock’s upward momentum.
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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Laxmi Organic shares surged by 5.45% on January 23, 2025, hitting an intraday high of ₹240.75. The rise came after the company announced robust financial results for Q3 FY25. The stock was trading 4.49% higher at ₹238.55 as of 9:47 AM, outperforming the BSE Sensex, which was flat at 76,444.
Q3 FY25 Financial Highlights
Laxmi Organic reported a 13.3% year-on-year increase in revenue, which stood at ₹786.3 crore, compared to ₹694.3 crore in the same quarter last year. The company’s operating profit (EBITDA) soared by 59.1% year-on-year to ₹74.8 crore, up from ₹47 crore in Q3 FY24. Its EBITDA margin also improved significantly, rising to 9.5% from 6.8% in the previous year.
About Laxmi Organic
Laxmi Organic Industries is a prominent player in the chemical manufacturing sector, focusing on speciality chemicals and intermediates. The company’s product portfolio includes acetaldehyde, acetic acid, ethyl acetate, and a range of other intermediates used across various industries.
Industries and Expertise
The company serves diverse sectors such as agrochemicals, pharmaceuticals, paints, coatings, and textiles. Known for its expertise in high-performance chemicals, Laxmi Organic emphasises sustainable growth and innovation while expanding its global market reach.
Listed on both the BSE and NSE, Laxmi Organic is recognised for its commitment to deliver quality products and maintaining a strong presence in the fine chemicals and intermediates market.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
KEI Industries share price rose significantly following the announcement of its Q3 FY25 results and an interim dividend. The share price gained over 11% in 2 days, with a 9.4% jump on Thursday, hitting an intraday high of ₹4,516.65.
Stock Performance
As of 10:46 AM on Thursday, the stock was trading at ₹4,471.55 on the BSE, up 8.34%. The company’s market cap stood at ₹42,726.82 crore. The 52-week high was ₹5,040.4, and the 52-week low was ₹2,883.6. Over the past year, KEI shares have surged 36.7%, outperforming the Sensex, which rose 8.5% in the same period.
Q3 FY25 Financial Highlights
Net Profit: ₹165 crore, a 9% YoY increase compared to ₹151 crore in Q3 FY24.
Revenue: ₹2,467 crore, up 19.8% YoY from ₹2,059 crore a year ago.
Interim Dividend Announcement
The board approved an interim dividend of ₹4 per equity share (face value of ₹2 each) for FY25.
The record date for the dividend is January 27, 2025.
Industry Growth Drivers
The cable and wire industry is experiencing strong growth due to demand from sectors like power distribution, solar energy, and infrastructure.
KEI’s continued focus on capital investment, robust margins, and a strong balance sheet is expected to further enhance its performance.
About KEI Industries
KEI Industries specialises in manufacturing electrical products, including power cables, control cables, and flexible cables. These products are widely used in power distribution, construction, and telecommunications, and the company is recognised for its high-quality offerings and strong industry presence.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
On January 23, 2025, UltraTech Cement shares gained momentum ahead of its Q3 results, climbing 2.2% to an intraday high of ₹10,930.05. By 10:11 AM, the stock was trading 1.81% higher at ₹10,888.10, while the BSE Sensex was up 0.28% at 76,617.12.
Financial Highlights
UltraTech Cement reported a net profit of ₹825 crore for the July-September 2024 quarter. The profit dropped by 36% compared to ₹1,280 crore in the same period last year. The company’s revenue for the quarter stood at ₹15,635 crore, a 2% decline year-on-year (YoY) but slightly higher than the estimated ₹15,420 crore.
Operating margins also declined significantly, dropping 300 basis points from 15.9% in Q2 FY24 to 12.9% in Q2 FY25. EBITDA came in at ₹2,019 crore, lower than the expected ₹2,180 crore and a 21% drop from ₹2,550 crore in the same quarter last year.
About UltraTech Cement
UltraTech Cement, part of the Aditya Birla Group, is India’s largest cement producer, with a capacity of over 120 million tonnes per year. The company operates more than 20 integrated plants, along with grinding units and bulk terminals across India.
A leader in the Indian cement market, UltraTech also has a strong presence in exports. Its product portfolio includes Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), and Ready Mix Concrete (RMC), catering to diverse construction needs ranging from residential projects to large infrastructure developments.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
HDFC Bank, India’s largest private lender, reported a standalone net profit of ₹16,735.5 crore for the October-December quarter of FY25. This marks a 2.2% year-on-year (YoY) growth from ₹16,372.5 crore in Q3FY24. However, the profit saw a slight dip compared to ₹16,820.9 crore in the previous quarter.
Net Interest Income (NII) and Margins
The bank’s net interest income (NII) grew 8% YoY to ₹30,653 crore in Q3FY25. Net interest margin (NIM) stood at 3.43%, slightly higher than 3.4% YoY but lower than 3.46% in the previous quarter.
Asset Quality and Provisions
Asset quality weakened during the quarter. The gross non-performing asset (GNPA) ratio rose to 1.42%, compared to 1.36% in the previous quarter and 1.26% a year ago. The net NPA ratio increased to 0.46% from 0.41% QoQ and 0.31% YoY. Provisions for the quarter rose to ₹3,135.8 crore from ₹2,700.5 crore in Q2FY25 but were lower than ₹4,216.6 crore a year earlier.
Overall, HDFC Bank delivered better-than-expected results, boosting investor confidence and positively impacting market sentiment.
About HDFC Bank Limited
HDFC Bank Limited, based in Mumbai, is a major Indian banking and financial services company. It is the largest private bank in India by assets and ranks as the tenth-largest bank globally by market value as of May 2024. As of April 2024, the bank has a market value of $145 billion, making it the third-largest company on India’s stock exchanges.
HDFC Bank share price is currently trading at ₹1,670.15, up by ₹4.10 (0.25%) as of 10:00 AM IST on January 23. The stock opened at ₹1,687.00, reached a high of ₹1,687.00, and a low of ₹1,663.50. Over the past 52 weeks, the stock’s highest value was ₹1,880.00, and its lowest was ₹1,363.55. In the past 5 days, it has risen by ₹27.75 (1.69%), while it has gained ₹55.10 (3.40%) over the past 6 months. Compared to a year ago, HDFC Bank Ltd’s stock has increased by ₹246.15 (17.25%).
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
January 23, 2025 09:33 AM
Stock Market Live: Stocks to Watch: HUL, BPCL, Coforge, Paras Defence in Focus
Key stocks in focus include HUL, which reported a profit of ₹3,001 crore and announced the demerger of Kwality Wall’s and a stake acquisition in Minimalist. BPCL’s profit surged to ₹4,640 crore, while Coforge posted a profit of ₹216 crore and declared a ₹19/share interim dividend. Pidilite Industries recorded a ₹552 crore profit, and Tata Communications saw a 424% YoY profit jump to ₹236 crore. Paras Defence signed an MoU to establish a ₹12,000 crore Optics Park in Maharashtra, creating 2,000 jobs by 2028.
January 23, 2025 11:06 AM
Share Market Live Updates: Zensar Hits 52-Week High
Zensar Technologies Limited announced its consolidated financial results for the third quarter ending December 31, 2024, for the financial year 2024-2025. The company reported a revenue of $157.0 million for Q3FY25, marking a year-on-year (YoY) growth of 8.6% in reported currency and 7.5% in constant currency.
On a sequential quarter-over-quarter (QoQ) basis, the growth was 0.5% in reported currency and 0.7% in constant currency. Gross Margin for the quarter stood at 30.1% of revenues, reflecting a 200 basis point improvement from the previous quarter.
January 23, 2025 11:20 AM
Share Market Live: Coforge Shares Jump 10%
Coforge Limited’s shares surged 10% to ₹9,051 on January 23, 2025, following its robust Q3 FY25 results and a ₹19 interim dividend announcement. The company reported a revenue of ₹3,318.2 crore, reflecting 40.3% YoY growth in constant currency terms and 42.8% YoY growth in INR terms. EBITDA rose 29.3% YoY to ₹519.0 crore, while adjusted PAT increased 10.3% YoY to ₹268.0 crore. The strong performance was driven by significant growth across sequential and year-on-year metrics.
January 23, 2025 11:32 AM
Share Market Live: Mazagon Dock Shipbuilders Stock Up 4%
Mazagon Dock Shipbuilders (NSE: MAZDOCK) share price traded 3.55% higher at ₹2,369 at 11:10 AM on the NSE. The stock opened at ₹2,275.85, higher than ₹2,287.75 at the previous close. The stock rose to a day’s high of ₹2,423 in the early trade before cooling off to a day’s low of ₹2,256.60. Despite yesterday’s loss the stock price continued to trade close to its 52-week high of ₹2,930 recorded on July 5, 2024.
The company also issued a clarification regarding the recent media reports on a contract with Jawaharlal Nehru Port Authority (JNPA) about an electric water taxi.
January 23, 2025 11:50 AM
Share Market Live Updates: India’s Renewable Energy Surge
India’s renewable energy sector is rapidly transforming, and 2024 marked an exceptional year in this transition. With a growing commitment to sustainability and green energy solutions, India continues to make waves in the global energy landscape. By 2030, the country aims to achieve 500 GW of non-fossil fuel-based energy capacity—a monumental goal that solidifies its position as a clean energy leader.
January 23, 2025 12:37 PM
Share Market Live: Markets Trade Volatile Amid Mixed Global Cues
On January 23, 2025, Indian benchmark indices Nifty50 and Sensex, witnessed volatility due to mixed global signals. The BSE Sensex fluctuated between gains and losses, trading at 76,553.34, up 148.35 points by noon, while the Nifty50 rose 0.24% to 23,210.20. Gains in UltraTech Cement, Tech Mahindra, Sun Pharma, and M&M supported the indices, though losses in HUL, HDFC Bank, SBI, Reliance Industries, and HCL Tech capped the upside.
Broader markets outperformed, with Nifty SmallCap and MidCap indices advancing 1.1% and 1.6%, respectively. Sectorally, Nifty IT led with a 2% rise, while Nifty PSU Bank declined 0.5%. Investors are closely monitoring Q3 results from major companies like UltraTech Cement and Dr Reddy’s.
January 23, 2025 12:56 PM
Share Market Live: Jupiter Wagons Shares Rise on Fundraising Plans
Jupiter Wagons share price saw a rise of 2.61% on January 23, 2025, reaching an intraday high of ₹485.75. By 12:31 PM, the stock was trading 1.50% higher at ₹480.45, while the BSE Sensex was up 0.38% at 76,696.88.
The company announced a board meeting scheduled for January 29, 2025, to discuss plans for raising funds through various methods. These may include issuing equity shares, convertible preference shares, bonds, debentures, warrants, or other equity-linked instruments. Potential fundraising modes include private placements, qualified institutional placements (QIPs), public issues, rights issues, or preferential allotments, subject to necessary approvals.
January 23, 2025 01:44 PM
Stock Market Live: Mid-Day Top Gainers and Losers
As of 12:05 PM on January 23, 2025, the BSE Sensex rose 0.23% to 76,569.05, while Nifty50 gained 0.28% to 23,219.90.
Among the top gainers, Wipro surged 3.8% to ₹320.85, Tech Mahindra rose 2.31% to ₹1,722.80, and Tata Consumer Products gained 2.13% to ₹988. UltraTech Cement and Mahindra & Mahindra also saw gains of 2.12% and 1.72%, respectively. On the downside, Hindustan Unilever dropped 1.37% to ₹2,310.95 despite strong Q3 profit growth, and BPCL fell 1.33% to ₹273.9 after a revenue decline. Dr. Reddy’s, HCL Technologies, and SBI also posted losses, down 1.18%, 1.01%, and 0.64%, respectively.
January 23, 2025 02:03 PM
Stock Market Live: Biocon Share Price Gains 3% on Fundraising Announcement
Biocon share price rose by 2.61% to ₹398 per share on January 23, 2025, following the company’s announcement that its board will consider raising funds through commercial papers (CPs) or other private placement methods. The board meeting is scheduled for January 27, 2025.
January 23, 2025 02:21 PM
Stock Market Live Updates: IREDA Approves ₹5,000 Crore Fundraising via QIP
On January 23, 2025, Indian Renewable Energy Development Agency (IREDA) announced that it will raise ₹5,000 crore through a Qualified Institutional Placement (QIP). The funds will be raised in 1 or more tranches. The company’s board approved this plan during its meeting.
January 23, 2025 03:04 PM
Stock Market Live: Markets Gain on Auto, IT, and Healthcare Stocks
On January 23, 2025, benchmark indices gained momentum with strong buying in auto, IT, and healthcare stocks. At 2:00 PM, the BSE Sensex rose by 250 points to 76,650, while the NSE Nifty 50 hovered near 23,250.
January 23, 2025 03:35 PM
Stock Market Live Updates: Adani Energy Solutions Q3 Profit Surges 80% to ₹625 Crore
Adani Energy Solutions reported an 80% increase in consolidated net profit to ₹625.30 crore for the December 2023 quarter, compared to ₹348.25 crore a year ago. The rise was supported by higher revenues, with total income climbing to ₹6,000.39 crore from ₹4,824.42 crore in the same period last year, as per its BSE filing.
January 23, 2025 03:59 PM
Stock Market Live: Sensex and Nifty Close Higher, Supported by Gains in Auto, IT, and Healthcare Stocks
On Thursday, January 23, 2025, after a shaky start, the benchmark equity indices showed positive movement, boosted by strong buying in auto, IT, cement, and some healthcare stocks.
The BSE Sensex dropped to a low of 76,202 early in the session but quickly recovered and rose to a high of 76,743, ending the day at 76,520, up by 115 points. The NSE Nifty 50 reached a high of 23,271 and a low of 23,091 before closing 50 points higher at 23,205.
January 23, 2025 04:34 PM
Stock Market Live: Ultratech Cement Leads Gains, BPCL Sees Losses on January 23, 2025
On January 23, 2025, the Indian stock markets closed higher, with Nifty 50 rising by 0.22% and Sensex gaining 0.15%. The Nifty Consumer Durables and Nifty IT sectors saw gains of 1.97% and 1.79%, respectively.
Ultratech Cement led the day’s top gainers with a 6.67% increase, followed by Grasim (2.96%), Wipro (2.78%), Shriram Finance (2.38%), and Sun Pharma (2.23%). On the losing side, BPCL saw a decline of 2.14%, followed by Kotak Mahindra Bank (-1.28%), HCLTech (-1.14%), Reliance (-0.96%), and SBI (-0.96%).
