Share Market HIGHLIGHTS: Sensex drops 360 pts, Nifty settles at 21,353; TechM falls 6%
Share Market HIGHLIGHTS: Domestic equity indices Sensex and Nifty50 settled lower on Thursday (January 25) amid selling in banking, financial services, FMCG, IT, auto, pharma, and oil & gas stocks. Catch minute-by-minute updates of all the action in the Indian share market today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.coms blog.
Share Market HIGHLIGHTS: Domestic equity indices Sensex and Nifty50 settled lower on Thursday (January 25) amid selling in banking, financial services, FMCG, IT, auto, pharma, and oil & gas stocks. Both indices slid over 0.45 per cent. The S&P BSE Sensex finished 359.64 points lower at 70,700.67, and the NSE Nifty declined 101.35 points at 21,352.6.
Among the Nifty 50 stocks, 34 advanced, with Tech Mahindra, Bharti Airtel, Divi's Laboratories, Cipla, and LTIMindtree being the top laggards, slipping in the range of 2.18 per cent to 5.59 per cent. Conversely, Bajaj Auto, Adani Enterprises, NTPC, Coal India, and IndusInd Bank were the top gainers, rising between 1.17 per cent to 5.23 per cent.
Catch minute-by-minute updates of all the action in the Indian share market today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
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CLOSING BELL | Market falls again after 1 day of gains; Sensex slips 360 pts, Nifty settles at 21,353
Share Market Tips LIVE | Buy Texmaco Rail, Orient Paper shares, says Vikas Sethi
Vikas Sethi of Sethi Finmart recommends buying Texmaco Rail shares for a target of Rs 230 with a stop loss at Rs 204. Besides, he recommends buying Orient Paper shares for a target of Rs 62 with a stop loss at Rs 50.
Share Market Today LIVE: SBI Life Q3 net profit at Rs 322 crore, misses analysts' expectations
SBI Life Insurance Company (SBILIFE) reports a 5.8 per cent year-on-year increase in net profit to Rs 321.75 crore for the October-December period.
Its quarterly net premium income grows to Rs 22,316.5 crore from Rs 19,170.8 crore a year ago, according to a regulatory filing.
According to Zee Business research, the life insurer's quarterly net profit was estimated at Rs 400 crore and net premium earned at Rs 19,556 crore.
Share Market Today LIVE: Selling pressure worsens in SBI Life shares after life insurance firm's Q3 results miss fall short of analysts' expectations
SBI Life Insurance Company (SBILIFE) shares extend intraday losses after the insurer reports a weaker-than-expected set of financial results. The stock is down about three per cent at Rs 1,369.3 apiece on BSE.
Image: BSEIndia.com
Share Market Today LIVE: Hindustan Petroleum (HPCL) shares plunge after state-run oil marketing firm reports Q3 results
HPCL shares take a beating after the company reports worse-than-expected financial results for the October-December period, falling by as much as Rs 35.5, or 7.8 per cent, of Rs 417 apiece on BSE.
Its standalone net profit falls 85.3 per cent sequentially to Rs 239 crore as income increases 15.6 per cent to Rs 1,18,999.3 crore for the quarter ended December.
According to Zee Business analysts, HPCL was estimated to report a net profit of Rs 1,895 crore.
Image: BSEIndia.com
Share Market Today LIVE: HDFC Bank, ITC, Axis Bank, Bharti Airtel contribute most to Sensex's fall; NTPC, L&T, ICICI Bank lend support
Image: BSEIndia.com
Share Market Today LIVE | Strong outlook: Jefferies, Morgan Stanley remain upbeat on DLF after Q3 numbers
Shares of DLF in Thursday’s trade (January 25) rally over 4 per cent to the day’s high of Rs 778.85 after the realty major posted a good set of numbers for the December quarter after market hours on Wednesday. For the December-ended quarter, the company’s consolidated net profit increased 26 per cent on-year to Rs 649 crore on lower expenses and higher income. The company’s net profit in the year-ago period stood at Rs 517.94 crore. Read more
Share Market Today LIVE | Laurus Labs shares tank on weak Q3 results; is it a good time to sell the stock?
Shares of Laurus Labs trade 7.67 per cent, or Rs 30.55, lower on the BSE at Rs 368 apiece after the pharmaceutical company posted weak third quarter (October-December) results on Wednesday. The market capitalisation of the company stands at Rs 19,833.94 crore.
Laurus Labs Q3 results
On Wednesday, after market hours, the Indian pharmaceutical and biotechnology company posted a decline in profit after tax (PAT) of 88 per cent at Rs 25 crore for the December quarter against Rs 203 crore registered a year ago. Read more
Share Market Today LIVE | Ace investor Rekha Jhunjhunwala adds stake in this multi-bagger realty stock: Check Details
Ace investor Rekha Jhunjhunwala, wife of late Rakesh Jhunjhunwala, has increased her stake in small-cap realty player DB Realty. As per the statement showing the shareholding pattern of public shareholders as of the December quarter available on BSE, the investor held 1.5 crore equity shares, equating to a 2.99 per cent holding in the realty company. This was an increase of 1 per cent over the previous September-ended quarter, when the investor held 1 crore equity shares, or a 1.99 per cent stake in the firm.
Rekha, as per the latest shareholdings filed, publicly owns 25 stocks, and her total net worth is estimated at Rs 39,977 crore, Trendlyne data shows. Read more
Share Market Today LIVE | Birlasoft hits a 52-week high after software firm delivers strong performance in December quarter
Software company Birlasoft hit a 52-week high at Rs 841.5 on BSE after the firm registered a strong performance in its December-quarter results.
Birlasoft Q3 results
The firm has witnessed a significant improvement in margins in the quarter under review. The company's consolidated profit after tax (PAT) jumped by 11 per cent to Rs 161 crore in the December quarter against Rs 145 crore in the September quarter. Read more
Share Market Today LIVE | Nifty slips below 21,350, Sensex falls over 550 pts
Share Market Today LIVE | Tata Steel posts better-than-estimated Q3 result; here is what brokerages suggest
Tata Steel shares trade flat, 0.11 per cent lower at Rs 135 after the Tata Group company posted better-than-expected Q3 FY24 results on Wednesday after market hours.
On Wednesday, after market hours, the steel maker recorded a consolidated net profit of Rs 522.14 crore in the October to December quarter of the current financial year, up from a massive Rs 2,501.95 crore loss in the same quarter of the previous fiscal, as strong domestic demand offset the losses that the company is facing in Europe. The profit was estimated at Rs 630 crore by Zee Business analysts. Read more
Should you buy, sell, or hold Tata Steel shares?
CLSA maintained an 'outperform' rating of the stock with a target of Rs 145 apiece. Similarly, Morgan Stanley reiterated an 'equal weight' stance and gave a target price of Rs 120 apiece. Read more
Share Market Today LIVE | Mazagon Dock shares surge 6% after Rs 1,070 crore deal with govt
Shares of Mazagon Dock Shipbuilders gain over 6 per cent to hit a high of Rs 2475 on the BSE. The surge in share price of of Mazagon Dock Shipbuilders, which has a market cap of Rs 48,624 crore, comes after the company signed a contract worth RS 1,070 crore with the Ministry of Defence. The deal is for the delivery of 14 Fast Patrol Vessels (FPVs). Read more
Share Market Today LIVE | Concor stock dips despite Railway company reporting inline Q3 numbers
Container Corporation of India (Concor) shares trade Rs 13.5 or 1.61 per cent lower at Rs 827.55 on BSE despite the company reporting inline December-quarter numbers a day ago.The company's standalone profit after tax (PAT) jumped by 12.8 per cent to Rs 334.4 crore in the December quarter against Rs 296.5 crore Year-on-Year (YoY), below than Zee Business research estimates of Rs 347 crore. Read more
Anil Singhvi Market Strategy | Important levels to track in Nifty50, Nifty Bank today
Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 21,350-21,400 levels and a strong buy zone at 21,150-21,250 levels on Thursday, January 25. For the Nifty Bank, he expects support to come in at 44,900-45,000 and a strong base at 44,500-44,625 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Share Market Today LIVE | Bajaj Auto trades in green after strong Q3 results; Jefferies sees 27% upside
Bajaj Auto shares trade in positive territory in the opening deals on Thursday, January 25, after the automotive manufacturing company reported a strong set of quarterly numbers. On Wednesday, after market hours, Bajaj Auto reported a 36.9 per cent year-on-year (YoY) jump in standalone net profit at Rs 2,041.9 crore for the October-December period, driven by volume-led growth in its domestic business owing to a robust festive season. The net profit was in line with analysts' expectations. The Pune headquartered company shares trade 0.47 per cent higher at Rs 7,246.95 on NSE.
Bajaj Auto share price target: Should you buy, sell, or hold the auto share?
Bajaj Auto Brokerage Rating Target (INR) Morgan Stanley Overweight 8082 Jefferies Buy 9000 CLSA Sell 6273 JP Morgan Overweight 8275 Citi Sell 5000 Nomura Buy 8897 Macquarie Neutral 7867 Jefferies has maintained a buy call on Bajaj Auto. The brokerage has raised the target to Rs 9,000 from Rs 8,400. The brokerage sees an upside of nearly 27 per cent from current levels. Read more
Image: Reuters/ Representational image
Currency Market Update | Rupee falls 2 paise to 83.14 against US dollar in early trade
Share Market Today LIVE | Nifty below 21,450, Sensex down over 150 pts
Nifty 50
Source: NSESensex
Source: BSE
Stocks to Watch | Tech Mahindra, Mazagon Dock, Bajaj Auto, other stocks
Here are some stocks that will be in focus on Thursday, January 25:
Tech Mahindra: The IT company posted a consolidated net profit of Rs 523.7 crore against Rs 1285.3 year-on-year (YoY) basis. The net profit for the September quarter stood at Rs 505.3 crore.
Bajaj Auto: The company reported a net profit of Rs 2,032.62 crore against Rs 1,472.7 crore YoY. The revenue from operations stood at Rs 11,892.1 crore against Rs 9,050.58 crore a year ago. Margins at the company grew to 20.1 per cent as against 19.1 per cent in the same period last year. Amid strong outlook, Jefferies has maintained its 'buy' call with a target raised to Rs 9000 from Rs 8400 earlier.
Tata Steel: The company posted strong operational performance with Indian business operating strongly, while Europe business remains a concern. The margins in Q3 increased to 11.3 per cent versus 7 per cent YoY. The company's PAT for the quarter under review stood at Rs 513 crore versus loss of Rs 2224 crore in Q3FY23.
CONCOR: The company's Q3 results came in line with the estimates. Profit at the firm grew 12.8 per cent on year, while revenue also edged higher by 11 per cent on year. The company approved the third dividend of Rs 4 per share.
PNB Housing Finance: The housing finance company reported a net profit of Rs 338.44 crore for the third quarter of the financial year (FY) 2023-24 against Rs 269.13 crore recorded in Q3 FY23.
Birlasoft Ltd: The firm reported a net profit of Rs 161.06 crore for the quarter that ended December 31 against a loss of Rs 16.361 crore YoY. The consolidated profit for the September quarter stood at Rs 145.08 crore.
Aarti Drugs: The company recorded a net profit of Rs 36.71 crore for the third quarter ended December 31, against Rs 36.67 crore a year ago. Revenue from operations for the quarter under review stood at Rs 605.94 crore against Rs 663.96 crore YoY. Read more
Share Market Today LIVE | GIFT Nifty futures indicate a sluggish start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are down 16.10 points or 0.07 per cent at 21,461.5 ahead of the opening bell on Dalal Street.
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