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At 13:25 IST, the barometer index, the S&P BSE Sensex was advanced 17.44 points or 0.02% to 78,491.32. The Nifty 50 index added 24.25 points or 0.10% to 23,751.90.
In the broader market, the S&P BSE Mid-Cap index fell 0.42% and the S&P BSE Small-Cap index fell 0.33%.
The market breadth was negative. On the BSE, 1,605 shares rose and 2,295 shares fell. A total of 121 shares were unchanged.
Gainers & Losers
Adani Ports & Special Economic Zone (up 1.80%), Mahindra & Mahindra (M&M)(up 1.58%), Maruti Suzuki India (up 1.57%), SBI Life Insurance Company (up 1.51%) and Tata Motors (up 1.30%) were major Nifty gainers.
Asian Paints (down 0.75%), Grasim Industries (down 0.70%), Tata Consumer Products (down 0.55%), HDFC Bank (down 0.46%) and JSW Steel (down 0.42%) were major Nifty losers.
Stocks in Spotlight:
Ola Electric Mobility rose 0.62%. The company said that it has expanded its network to 4,000 stores nationwide, registering a four-fold increase from the existing network.
Ramky Infrastructure advanced 2.25% after the company received a letter of acceptance from the Hyderabad Metropolitan Water Supply & Sewerage Board (HMWSSB) for maintaining sewage treatment plant (STP). The said order is valued at approximately Rs 215.08 crore.
Capital India Finance rose 1.24%. The company’s board has approved sub-division of 1 equity share of face value of Rs 10 into 5 equity shares having face value of Rs 2, subject to approval of members of the company.
Garware Technical Fibres rallied 4.43% after the company has received in-principle approval letter from National Stock exchange (NSE) for bonus issue in the ratio of 4:1.
Godfrey Phillips India jumped 6.95% after the company announced that its nomination and remuneration committee has approved the appointment of Siddharth Chawla as chief operating officer (COO).
Bharat Petroleum Corporation (BPCL) rose 0.62% after the company announced its participation in NTPC’s tender for the selection of solar power generators to establish 1200 MW ISTS-connected solar PV power projects across India.
Ceigall India jumped 3.28% after the company’s subsidiary, Ceigall Ludhiana Bathinda Greenfield Highway Private has executed concession agreement with the National Highways Authority of India (NHAI) to develop highway in Punjab.
Gland Pharma advanced 0.90%. The company said that the Agence nationale de sécurité du médicament et des produits de santé (ANSM), France, has issued 10 observations to Cenexi’s facility post an inspection conducted this month.
Global Markets:
European market remained close today on account of Boxing Day.
Asia-Pacific stocks advanced on Thursday, investors closely tracked the developments in the Japanese economy after media reports stated that the country was preparing a record $735 billion budget for its fiscal year starting in April. The budget will account for increased social security and debt-servicing expenses, the report said.
On Wednesday, Bank of Japan’s Governor Kazuo Ueda reportedly said: “Japan’s economy will move closer to sustainable and stable 2 percent inflation [in 2025], accompanied by wage increases.”
Traders in Asia will be looking at November manufacturing output data coming out of Singapore later in the day.
The Chinese government said on Wednesday that efforts to stabilize and stem the declines of the country’s real estate market will persist in 2025. The measures will include controlling the supply of commercial housing to optimize supply.
In the US, stocks jumped Tuesday on Christmas Eve as the market pulled off back-to-back gains in the holiday week.
The S&P 500 added 1.1% to 6,040.04, and the Dow Jones Industrial Average gained 390.08 points, or 0.91%, to 43,297.03. The Nasdaq Composite climbed 1.35% to 20,031.13. Tuesday marked the start of the seasonal Santa Claus rally, which happens in the last five trading days of the year and the first two in January.
With two straight winning days, the S&P 500 is up 1.8% this week, while the Dow has gained about 1%. The strong rally in megacap tech lifted the Nasdaq up 2.3% week to date.
Mahindra & Mahindra Ltd is up for a third straight session today. The stock is quoting at Rs 2975.4, up 1.59% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.07% on the day, quoting at 23744.30078125. The Sensex is at 78476.92, up 0.01%. Mahindra & Mahindra Ltd has slipped around 0.98% in last one month.
Meanwhile, Nifty Auto index of which Mahindra & Mahindra Ltd is a constituent, has slipped around 2.68% in last one month and is currently quoting at 22685.55, up 0.89% on the day. The volume in the stock stood at 12.45 lakh shares today, compared to the daily average of 29.07 lakh shares in last one month.
The benchmark December futures contract for the stock is quoting at Rs 2982, up 1.92% on the day. Mahindra & Mahindra Ltd is up 76.27% in last one year as compared to a 9.65% jump in NIFTY and a 25.58% jump in the Nifty Auto index.
The PE of the stock is 33.41 based on TTM earnings ending September 24.
Mahindra & Mahindra Ltd fell 0.83% today to trade at Rs 3059.25. The BSE Auto index is down 0.3% to quote at 53787.47. The index is up 3.93 % over last one month. Among the other constituents of the index, TVS Motor Company Ltd decreased 0.81% and Samvardhana Motherson International Ltd lost 0.8% on the day. The BSE Auto index went up 30.66 % over last one year compared to the 14.3% surge in benchmark SENSEX.
Mahindra & Mahindra Ltd has added 8.92% over last one month compared to 3.93% gain in BSE Auto index and 5.07% rise in the SENSEX. On the BSE, 1394 shares were traded in the counter so far compared with average daily volumes of 79045 shares in the past one month. The stock hit a record high of Rs 3221.1 on 27 Sep 2024. The stock hit a 52-week low of Rs 1575.25 on 24 Jan 2024.
Coromandel International and Mahindra & Mahindra's Farm Equipment Sector (FES) business vertical, Krish-e, announced a partnership to extend Coromandel's drone spraying services, Gromor Drive, to Indian farmers.
Currently operational in seven key states Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, Maharashtra, Madhya Pradesh and Uttar Pradesh Gromor Drive's operations are supported by RPTOtrained pilots. Coromandel's drone services are uniquely positioned in the market through the support of its subsidiary, Dhaksha Unmanned Systems, which ensures reliable drone supply, pilot training, and service support. This backward integration provides Coromandel with a distinct competitive edge in this emerging market.
The partnership further enhances accessibility to these services via the ‘Krish-e Kheti Ke Liye App,' along with other technology-driven farm solutions offered by Mahindra's FES, aimed at sustainably maximizing farmers' income and benefiting the broader agricultural value chain.
Apollo Tyres Ltd fell 1.42% today to trade at Rs 541.8. The BSE Auto index is down 0.26% to quote at 53674.86. The index is down 0.68 % over last one month. Among the other constituents of the index, Mahindra & Mahindra Ltd decreased 1.31% and Samvardhana Motherson International Ltd lost 1.05% on the day. The BSE Auto index went up 31.91 % over last one year compared to the 16.62% surge in benchmark SENSEX.
Apollo Tyres Ltd has added 10.39% over last one month compared to 0.68% fall in BSE Auto index and 2.6% rise in the SENSEX. On the BSE, 3983 shares were traded in the counter so far compared with average daily volumes of 60745 shares in the past one month. The stock hit a record high of Rs 584.65 on 26 Sep 2024. The stock hit a 52-week low of Rs 418.95 on 21 Dec 2023.