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At 13:30 IST, the barometer index, the S&P BSE Sensex, was up 419.44 points or 0.52% to 80,444.69. The Nifty 50 index rose 128.75 points or 0.53% to 24,323.25.
In the broader market, the S&P BSE Mid-Cap index rose 0.26% and the S&P BSE Small-Cap index added 0.91%.
The market breadth was strong. On the BSE, 2,447 shares rose and 1,326 shares fell. A total of 161 shares were unchanged.
Gainers & Losers:
Adani Enterprises (up 10%), Adani Ports and Special Economic Zone (SEZ) (up 7.77%), Trent (up 2.94%), Bharat Electronics (BEL) (up2.84%) and NTPC (up 2.56%) were the major Nifty gainers.
Apollo Hospital Enterprise (up 1.37%), Shriram Finance (up 0.37%), Titan Company (up 0.68%), Asian Paints (up 0.64%), Britannia Industries (up 0.60%) were major Nifty losers.
NTPC added 2.56% after the company announced the incorporation of a joint venture company between NTPC Green Energy (NGEL) and Maharashtra State Power Generation Company (MAHAGENCO).
MAHAGENCO NTPC Green Energy (MNGEPL) has been incorporated as 50:50 joint venture between NTPC Green Energy (NGEL), a wholly-owned subsidiary of NTPC, and Maharashtra State Power Generation Company (MAHAGENCO), a Government of Maharashtra (GOM) owned company.
Stocks in Spotlight:
Bajaj Steel Industries shed 0.05%. The company said that it has successfully commenced commercial operation at its new plant at Nagpur for pre-engineered/pre-fabricated steel buildings (infrastructure division).
Sky Gold locked lower circuit of 5%. The company informed that its board approved the issuance of bonus equity shares in the proportion of 9:1 i.e., 9 bonus equity shares for every 1 existing equity share held.
Rail Vikas Nigam (RVNL) advanced 1.24% after the company received a letter of acceptance (LoA) for an Engineering, Procurement and Construction (EPC) contract worth Rs 625.08 crore from South Central Railway.
Zaggle Prepaid Ocean Services hit an upper circuit of 5% after the company has entered into an agreement with Mastercard Technology (MasterCard) for 7 years.
CG Power and Industrial Solutions rallied 3.63% after the company’s subsidiary G.G.Tronics India (GGT) secured a KAVACH order from Chittaranjan Locomotive Works, West Bengal, Government of India
Talbros Automotive Components zoomed 11.98% after the company, along with its JV’s, received orders worth Rs 475 crore for both domestic and exports market from the leading OEM’s. These orders are to be executed over the period of next 5 years. These orders include orders from all the company’s product lines like gaskets, heat shields, forging components, chassis and hoses.
Global Market:
Most of the European market decline while Asian stocks traded mixed on Wednesday amid lingering concerns over Donald Trump’s tariff plans, which had rattled emerging markets in the previous session. Speculation about the role tariffs would play in the president-elect's economic agenda intensified as reports surfaced that Jamieson Greer, a protégé of Robert Lighthizer, was being considered for US Trade Representative. This selection underscores the administration’s focus on protectionist trade policies.
In Australia, the consumer price index (CPI) inflation grew by 2.1% year-on-year in October, falling short of expectations due to government subsidies that helped reduce energy costs. However, core inflation, represented by the annual trimmed mean inflation, rose to 3.5% in October from 3.2% the previous month, pushing further above the Reserve Bank’s target range.
US stocks advanced on Tuesday, as strength in technology shares counterbalanced worries about potential tariff escalations under Donald Trump’s administration. The S&P 500 climbed 0.57%, the Dow Jones Industrial Average rose 0.28%, and the NASDAQ Composite gained 0.63%.
Among the Magnificent Seven tech stocks, five closed higher, led by Amazon.com Inc., which surged over 3%. The rally followed reports from Bloomberg that Amazon plans to reduce its reliance on NVIDIA Corporation by developing its own custom artificial intelligence chips.
Investors also weighed mixed signals on U.S. interest rates. Minutes from the Federal Reserve’s November meeting revealed a split among policymakers regarding the path of future rate cuts. They highlighted uncertainty about the 'neutral rate,' a level that neither stimulates nor restricts economic growth, as a key factor for their cautious stance.
Mahindra & Mahindra(M&M), Lupin, RVNL, Trent, Shyam Metalics, Indian Hotels, Goldiam International, Gujarat State Petronet, Gujarat Alkalies and Chemicals, Happy Forgings, HIL, Indigo Paints, ITD Cementation India, Jagran Prakashan, Kennametal India, Linde India, AAVAS Financiers, Abbott India, Akzo Nobel India, Alembic Pharmaceuticals, Bajaj Electricals, Carysil, Clean Science and Technology, Cummins India, Emami, Escorts Kubota, Great Eastern Shipping Co will declare their result later today
Stocks to Watch:
Apollo Hospitals Enterprise reported 62.64% surge in consolidated net profit to Rs 378.8 crore in Q2 FY25 as against Rs 232.9 crore posted in Q2 FY24. Revenue from operations increased 15.31% year on year (YoY) to Rs 5,589.3 crore in the quarter ended 30 September 2024.
Tata Steel reported consolidated net profit of Rs 758.84 crore in Q2 FY25 as compared with net loss of Rs 6,511.16 crore in Q2 FY24. Revenue fell 3.19% YoY to Rs 53,904.71 crore during the quarter.
Sonata Software’s consolidated net profit increased marginally 0.81% to Rs 106.49 crore in Q2 FY25 as compared with Rs 105.63 crore in Q1 FY25. Revenue declined 14.13% QoQ to Rs 2,170 crore in Q2 FY25.
Power Grid Corporation of India’s consolidated net profit increased marginally 0.31% to Rs 3,793 crore in Q2 FY25 as compared with Rs 3,781 crore in Q2 FY24. Revenue rose slightly higher 0.08% to Rs 11,277 crore in Q2 FY25 as compared with Rs 11,267 crore in Q2 FY24.
Pricol’s consolidated net profit jumped 36.36% to Rs 45 crore on 15.74% increase in revenue to Rs 669 crore in Q2 FY25 over Q2 FY24.
Delta Corp’s consolidated net profit declined 60.86% to Rs 27 crore on 27.97% decline in revenue to Rs 188 crore in Q2 FY25 over Q2 FY24.
At 12:30 IST, the barometer index, the S&P BSE Sensex dropped 760.75 points or 0.95% to 79,617.20. The Nifty 50 index fell 260.55 points or 1.06% to 24,223.40.
In the broader market, the S&P BSE Mid-Cap index fell 0.38% and the S&P BSE Small-Cap index added 0.05%.
The market breadth was positive. On the BSE, 1,952 shares rose and 1,876 shares fell. A total of 137 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 2.52% to 15.24. The Nifty 28 November 2024 futures were trading at 24,308, at a premium of 84.6 points as compared with the spot at 24,223.40.
The Nifty option chain for the 28 November 2024 expiry showed maximum Call OI of 32.2 lakh contracts at the 25,000 strike price. Maximum Put OI of 40.4 lakh contracts were seen at 23,000 strike price.
Buzzing Index:
The Nifty Pharma index fell 1.73% to 22,523.05. The index rose 0.61% for the past two trading session.
Glenmark Pharmaceuticals (down 5.5%), Ajanta Pharma (down 4.29%), Aurobindo Pharma (down 2.8%), Gland Pharma (down 2.37%), Alkem Laboratories (down 2.24%), Sun Pharmaceuticals Industries (down 2.18%), Lupin (down 1.72%), Zydus Lifesciences (down 1.6%), Cipla (down 1.44%) and Torrent Pharmaceuticals (down 1.41%) slipped.
On the other hand, Biocon (up 0.9%), Granules India (up 0.73%) advanced.
Stocks in Spotlight :
Apollo Hospitals Enterprise jumped 6.20% after the company reported 62.64% surge in consolidated net profit to Rs 378.8 crore in Q2 FY25 as against Rs 232.9 crore posted in Q2 FY24. Revenue from operations increased 15.31% year on year (YoY) to Rs 5,589.3 crore in the quarter ended 30 September 2024.
Kirloskar Ferrous Industries slipped 1.84% after the company reported 4.93% decline in consolidated net profit to Rs 77.64 crore in Q2 FY25 as compared to Rs Rs 81.67 crore in Q2 FY24.
Usha Martin added 2.15% after the company reported 5.38% rise in consolidated net profit to Rs 109.72 crore in Q2 FY25 as against Rs 104.11 crore posted in Q1 FY25. Revenue from operations added 7.84% to Rs 891.17 crore in Q2 FY25 as against Rs 826.37 crore posted in Q1 FY25.
Profit before tax in second quarter of FY25 was at Rs 557.4 crore, up 47.07% from Rs 379 crore recorded in similar period last fiscal.
The company’s EBITDA grew by 30% YoY to Rs 816 crore in the September 2024 quarter.
On segmental front, revenue from Healthcare Services was at Rs 2,920.4 crore (up 13.81% YoY), revenue from Digital Health & Pharmacy distribution was Rs 2,282.2 crore (up 17.31% YoY) and revenue from Retail Health & Diagnostics stood at Rs 403.9 crore (up 14.03% YoY) during the quarter.
As on 30 September 2024, Apollo Hospitals had 7,994 operating beds across the network (excluding AHLL & managed beds). The overall occupancy for hospitals was at 73% vs 68% in the same period in the previous year, aided by a strong increase in patient flows.
On half year basis the company’s consolidated net profit soared 71.21% to Rs 684 crore in H1 FY25 as against Rs 399.5 crore posted in H1 FY24. However the company’s revenue from operation rose 15.22% YoY to Rs 10,674.9 crore in H1 FY25.
Dr. Prathap C. Reddy, founder & chairman, Apollo Hospitals Group said, “One of our proudest achievements is our recent partnership with the Government of Tripura to provide free heart surgeries for children, underscoring our belief that healthcare should reach those who need it most, especially in underserved communities. Beyond expanding access, we are advancing medical technology with innovative treatments like water vapor thermotherapy for prostate care and robotic radiosurgery systems for cancer. These state-of-the-art solutions make procedures less invasive and reduce recovery time, resulting in better patient outcomes.
We’re also investing in the future of healthcare with the launch of our new research academy, which is focused on driving groundbreaking medical discoveries that will shape the next generation of treatments. Our priorities remain clear-enhancing patient care, prioritizing safety, and advancing medical science.
The first half of FY25 has been an exciting time for us, marked by these major milestones aimed at extending the reach and impact of our healthcare services. Moving forward, our mission is simple: to push the boundaries of healthcare and ensure that everyone, regardless of where they live, has access to the best medical services. This is our promise, and we are committed to making it a reality.'
Apollo Hospitals Enterprise is a private sector healthcare provider. It owns and operates hospitals across the country.
The scrip hit an all time high of Rs 7,482.80 in intraday today.
KIOCL Ltd, Apollo Hospitals Enterprise Ltd, Blue Star Ltd, JK Lakshmi Cement Ltd are among the other stocks to see a surge in volumes on BSE today, 07 November 2024.
ITI Ltd saw volume of 4.61 lakh shares by 10:47 IST on BSE, a 9.62 fold spurt over two-week average daily volume of 47896 shares. The stock increased 11.33% to Rs.258.50. Volumes stood at 48812 shares in the last session.
KIOCL Ltd notched up volume of 65658 shares by 10:47 IST on BSE, a 7.28 fold spurt over two-week average daily volume of 9025 shares. The stock rose 13.19% to Rs.388.25. Volumes stood at 9073 shares in the last session.
Apollo Hospitals Enterprise Ltd notched up volume of 41271 shares by 10:47 IST on BSE, a 7.27 fold spurt over two-week average daily volume of 5679 shares. The stock rose 5.96% to Rs.7,385.00. Volumes stood at 24207 shares in the last session.
Blue Star Ltd saw volume of 41979 shares by 10:47 IST on BSE, a 5.21 fold spurt over two-week average daily volume of 8051 shares. The stock dropped 6.86% to Rs.1,749.80. Volumes stood at 6145 shares in the last session.
JK Lakshmi Cement Ltd recorded volume of 25978 shares by 10:47 IST on BSE, a 4.61 times surge over two-week average daily volume of 5629 shares. The stock lost 3.29% to Rs.774.00. Volumes stood at 2339 shares in the last session.