Stocks in news on January 8, 2025: Tata Steel, Paytm and MMTC among 7 stocks that hogged limelight today
The markets witnessed a recovery from the day’s low owing to accumulation of beaten-down blue-chip stocks and in expectation of government reforms in the upcoming budget to lift the tepid economy.
Indian equities in Wednesday's session (January 8) ended a tad lower with the Nifty settling at 23,688.95 despite a broad-based sell-off. Sectorally, only IT, oil & gas and FMCG indices ended with gains, while all other indices saw selling action.
Vinod Nair, Head of Research, Geojit Financial Services said, "Slowing economic growth projections and caution ahead of Q3 numbers added volatility in the market."
The near-term sentiment is likely to be subdued due to the rise in US bond yield and fear of fewer rate cuts by the Fed, he added.
Here are the stocks that saw notable action today:
Tata Steel
Tata Steel: The company's crude steel production in the domestic markets stood at 5.68 million tons in the December quarter, rising 8 per cent quarter-on-quarter (QoQ) and 6 per cent year-on-year (YoY). After the business update, the company's stock settled at Rs 132.5, down 0.6 per cent.
Trent
Amid profit booking, shares of the Tata group's retail company Trent settled lower by 3 per cent at Rs 6,690 for the fourth straight session. At the close, the scrip settled lower by .
Sobha
After the realty major posted its business update on the previous day, the stock ended with a drag of nearly 6 per cent at Rs 1,427.5 per share.
Tata Technologies
Shares of Tata Technologies were in demand in today's session after the global product engineering and digital services company inked a strategic Memorandum of Understanding (MoU) with Telechips, an automotive semiconductor solutions company. Nonetheless, the stock at the close ended with tad gains at Rs 884.7 per share.
MMTC
Shares of the commodities trading entity amid a spurt in volume in the counter settled higher by over 7 per cent at Rs 75.9 per share on the BSE.
Paytm
Shares of the fintech major tanked after the NPCI data revealed that Paytm did not gained any Unified Payments Interface (UPI) market share in December. The stock at the close settled lower by over 8 per cent at Rs 903.7 per share.
Kalyan Jewellers
Amid continued profit booking in the counter after the stock scaled its record high on January 2, the stock ended lower for the fourth session in a row. At the close, the stock was down over 2 per cent at Rs 708.