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Bandhan Bank, Hindustan Copper, Manappuram Finance and RBL Bank shares were banned in F&O Trading on 8 January 2025.
Earnings Today:
Transformers and Rectifiers (India), Reliance Home Finance, Adarsh Mercantile, and Vivid Mercantile will declare their quarterly earnings later today.
Stocks to Watch :
Tata Steel’s India production increase 6.2% to 5.68 million tonnes (MT) as compared with 5.35 MT, aided by the commissioning of the 5 MTPA blast furnace at Kalinganagar in September.
Sobha’s total sales declined 28.85% YoY to Rs 1,388.6 crore in Q3 FY25. Average price realization jumped 16.46% to Rs 1366.3 per square feet (Sqft) as compared with Rs 1173.2 per Sqft.
Exicom Tele Systems has signed a Memorandum of Understanding (MOU) with Mufin Green Infra, a leading provider of turnkey project solutions for EV charging infrastructure. The MOU will ensure the creation of end-to-end EV charging solutions including installation of EV chargers & setting up of EV charging infrastructure.
Sapphire Foods India has received a GST order from the Bengaluru Tax Authority demanding Rs 81.45 lakh, including interest and penalties.
Tata Technologies signed memorandum of understanding (MoU) wth Telechips to innovate solutions for next- generations software defined vehicles (SDVs). Together, they aim to develop innovative solutions for ADAS platforms, automotive cockpit domain controllers, and central & zonal gateway controllers.
Birlasoft’s chief executive officer (CEO)- Americas, Roopinder Singh has resigned with effective from 7 February 2025.
The company said that the new blast furnace is presently operating at approximately 8,000 tonnes per day (tpd) and the ramp up to rated capacity is underway.
Tata Steel India deliveries increased 8% YoY to 5.29 million tons (MT) in Q3 FY25, aided by steady sales in domestic market and strategic presence in exports.
Tata Steel Netherlands liquid steel production for the quarter stood at 1.76 million tons and deliveries were 1.53 million tons. Deliveries include volumes to UK operations of around 0.12 million tons.
Following closure of the blast furnaces at the end of 2QFY25, Tata Steel UK has successfully reconfigured its supply chain to continue servicing customers via downstream processing of purchased substrate.
Tata Steel Group is among the top global steel companies with an annual crude steel capacity of 35 million tons per annum.
The steel major reported consolidated net profit of Rs 758.84 crore in Q2 FY25 as against net loss of Rs 6,511.16 crore reported in Q2 FY24. Total revenue from operations declined 3.19% year on year (YoY) to Rs 53,904.71 crore in the quarter ended 30 September 2024.
The scrip shed 0.26% to Rs 133 on the BSE.
At 10:30 IST, the barometer index, the S&P BSE Sensex, gained 436.72 points or 0.57% to 77,758.52. The Nifty 50 index added 120.80 points or 0.51% to 23,587.10.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index slipped 1.20% and the S&P BSE Small-Cap index fell 1.03%.
The market breadth was weak. On the BSE, 1,254 shares rose and 2,333 shares fell. A total of 144 shares were unchanged.
Economy:
The National Statistics Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) has released the First Advance Estimates of Annual Gross Domestic Product (GDP) for the Financial Year (FY) 2024-25 along with its expenditure components both at constant (2011-12) and current prices.
Real GDP has been estimated to grow by 6.4% in FY 2024-25 as compared to the growth rate of 8.2% in the Provisional Estimate (PE) of GDP for FY 2023-24. Nominal GDP has witnessed a growth rate of 9.7% in FY 2024-25 over the growth rate of 9.6% in FY 2023-24. Real GVA has grown by 6.4% in FY 2024-25 over the growth rate of 7.2% in FY 2023-24.
Buzzing Index:
The Nifty Consumer Durables index slipped 2.40% to 41,644.40. The index rose 0.12% in the past trading session.
Dixon Technologies (India) (down 6.36%), Kalyan Jewellers India (down 5.43%), Amber Enterprises India (down 4.45%), Voltas (down 2.87%), Century Plyboards (India) (down 2.3%), V-Guard Industries (down 1.65%), Titan Company (down 1.51%), Kajaria Ceramics (down 1.26%), Blue Star (down 1.17%) and Cera Sanitaryware (down 1.04%) declined.
On the other hand, Crompton Greaves Consumer Electricals (up 1.1%) edged higher.
Stocks in Spotlight:
Ashiana Housing jumped 6.50% after the company reported a 2.6 times increase in the sale value of the area booked to Rs 454.31 crore in Q3 FY25 from Rs 173.88 crore in Q3 FY24.
Signatureglobal (India) rose 0.74%. The company said that its pre-sales zoomed 120% to Rs 2,770 crore in Q3 FY25 from Rs 1,260 crore recorded in Q3 FY24.
Tata Steel shed 0.04%. The company informed that its India crude steel production stood at 5.68 million tons (MT) in Q3 FY25, up 6% as compared with 5.35 MT in Q3 FY24.
JSW Steel Ltd gained 2.96% today to trade at Rs 945.65. The BSE Metal index is up 1.22% to quote at 29984.44. The index is down 0.77 % over last one month. Among the other constituents of the index, Jindal Steel & Power Ltd increased 1.94% and Tata Steel Ltd added 1.88% on the day. The BSE Metal index went up 15.61 % over last one year compared to the 10.53% surge in benchmark SENSEX.
JSW Steel Ltd has lost 3.19% over last one month compared to 0.77% fall in BSE Metal index and 0.66% drop in the SENSEX. On the BSE, 6507 shares were traded in the counter so far compared with average daily volumes of 63276 shares in the past one month. The stock hit a record high of Rs 1063.35 on 04 Oct 2024. The stock hit a 52-week low of Rs 762 on 14 Mar 2024.