On Tuesday, 2468 stocks advanced, 1478 declined and 112 remained unchanged, with an advance decline ratio of 1.66x on the Bombay Stock Exchange (BSE), indicating positive closing of stocks in broader markets. The trend of the major indices on Tuesday’s trading is given in the table below.
On NSE, 77 securities advanced and closed at a new 52-week high whereas 22 securities sank to close at their new 52-week lows. In sectoral indices, Nifty FMCG, Nifty Media and Nifty IT were among the biggest losers. Nifty Metal, Nifty PSU bank and Nifty Auto were among the biggest gainers.
Voltamp Transformers (-4.65%) received letter of intent (LoI) from Gujarat Energy Transmission Corporation, for Rs263.33 crore for design, manufacture, test and supply of various ratings of power transformers as per tender specification. The order is expected to be completed within 12 months.
Indian Hotels Company’s (IHCL) (+0.22%) board approved the execution of a share subscription and purchase agreement, and shareholders’ agreement to acquire around 55% equity shares for an amount not exceeding Rs18 crore in Rajscape Hotels, a company that manages 16 boutique properties under the brand ‘Tree of Life Resorts & Hotels’ across India.
Rail Vikas Nigam’s (+1.05%) joint venture (JV) -- RVNL- SCPL (JV) emerged as the lowest bidder (L1) from Eastern Railway for earthwork in cutting and filling, blanketing, construction of minor bridges, major bridges, rub, rob, retaining wall, level crossing, side drain, catch water drain and other ancillary works in connection with construction of multi tracking Railway BG line. The project cost is Rs837.67 crore. The order is expected to be completed in 36 months.
Solar Industries India (+1.31%) received an order worth Rs887 crore from Singareni Collieries Company for the supply of SME explosives, LDC explosives and initiating systems for blasting of overburden. The said order is to be delivered over a period of two years.
NBCC (India) (-0.97%) received work order worth around Rs500 crore from Bureau of Indian Standards (BIS). The order is for construction of buildings at BIS Headquarters, New Delhi, Central laboratory, Sahibabad, National Institute of Training for standardization, Noida, Northern Regional Laboratory, Mohali and Bangalore Branch Laboratory, Bengaluru.
KP Energy (+4.71%) received new orders aggregating to 1003.7 MW capacity for development of renewable energy projects from KPI Green Energy. The company will be responsible for providing a range of services, including engineering, procurement, construction, and commissioning (EPCC) for the projects. This inter-alia entails activities such as designing, supply, construction, erection, testing, commissioning and securing the necessary approvals and permits for the projects.
NTPC (+0.54%) signed a joint venture (JV) agreement with Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL) for Chhabra Thermal Power Plant. The both parties have mutually agreed to form a 50:50 partnership JV Company, which will own and operate the Chhabra Thermal Power Plant and also explore opportunities for its capacity expansion.
L&T will acquire a 21% equity stake in E2E Networks through a combination of primary and secondary transactions. E2E Networks (+5.00%) entered into a strategic partnership with Larsen & Toubro (L&T) (+0.01%), India’s premier tech-led conglomerate. The partnership is a significant step towards adoption of GenAI solutions in India to foster a fundamental shift in the way accelerated computing on Cloud is used by Indian organisations
KEC International (-2.03%) received an approval for transfer of cable business of the company, as a going concern on slump sale basis, to KEC Asian Cables (KACL), a subsidiary of the company.
Venus Remedies (+0.03%) received good manufacturing practices (GMP) approval with Pharmaceutical Inspection Co-operation Scheme (PIC/S) accreditation from the National Pharmaceutical Regulatory Ageney (NPRA) of Malaysia for its state-of-the-art robotic pre-filled syringe (PFS) facility at its Baddi unit.
Earnings
Gland Pharma (+13.78%) reported 15.74% fall in net profit at Rs163.53 crore for Q2FY25 as compared to Rs94.08 crore for the same quarter in the previous year. However, total income of the company increased by 2.73% at Rs1,465.49 crore for Q2FY25 as compared to Rs1,426.58 crore for the corresponding quarter previous year.
ABB India (-3.10%) reported 21.38% rise in its net profit at Rs440.45 crore for the quarter ended September 30, 2024 as compared to Rs362.87 crore for the same quarter in the previous year. Total income of the company increased by 5.59% at Rs3,005.05 crore for Q2FY25 as compared to Rs2,846.01 crore for the corresponding quarter previous year.
Aptus Value Housing reported, sales increase of 26% year-on-year (y-o y) to Rs421 crore. Net profit was up 23% y-o-y to reach Rs182 crore.
Mazagon Dock (+4.24%), reported sales increase of 51% year-on-year (y-o y) to Rs2,757 crore. Net profit was up 76% y-o-y to reach Rs585 crore.
The top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below:
