On Monday, 2920 stocks advanced, 1168 declined and 159 remained unchanged on Bombay Stock Exchange with advance decline ratio of 2.5 indicating a positive closing in the broader market. However, the small and midcap indices went up loess. The trend of the major indices on Monday’s trading is given in the table below.
On NSE, 93 securities advanced and closed at a new 52-week high whereas 16 securities sank to close at their new 52-week lows. In sectoral indices, Nifty Energy, Nifty PSU Bank, and Nifty IT were among the biggest gainers. Nifty FMCG was the only the loser.
According to a news report Tesla was reportedly in discussions with the Murugappa Group, along with US memory chip maker Micron and Tata Electronics, to explore procurement options for semiconductor components. This move aligns with Tesla's strategic goal to diversify its global supply chain and reduce reliance on China and Taiwan. Murugappa Group stocks went up following this speculative news: Shanthi Gears (+9.54%), Wendt (India) (+3.50%), Tube Investments of India (+3.91%), Carborundum Universal (+2.32%), CG Power & Industrial Solutions (+4.96%), Cholamandalam Investment and Finance Company(+4.57%) and Coromandel International (+3.76%).
India's drug regulator (DGCI) halted the production, sale, and distribution of several fixed-dose combination (FDC) cough syrups for children under four. The DGCI's action, prompted by safety concerns regarding the use of chlorpheniramine maleate and phenylephrine hydrochloride in young children, has led to confusion within the distribution channel.
The Insurance Regulatory and Development Authority of India (IRDAI) launched a Common Hospital Empanelment Drive, spearheaded by the General Insurance Council, aiming to onboard 4,000-5,000 general hospitals into cashless treatment networks in the coming months. This initiative seeks to streamline the process for hospitals to join insurer networks. Simultaneously, insurers are engaging separately with eye hospitals due to the standardized nature of their procedures. While some hospitals view the move towards standardized pricing favorably, larger hospitals have voiced concerns regarding the proposed reimbursement rates. The pricing framework is expected to align with the Pradhan Mantri Jan Arogya Yojana (PMJAY) to ensure cost-effectiveness, with the overall goal of enhancing accessibility while balancing negotiations between insurers and hospitals.
Interarch Building Products (+4.00%) secured orders exceeding Rs300 crore from a prominent tyre manufacturing company based in Gujarat.
Sandhar Technologies Limited (+1.11%) entered into an agreement to sell a non-core immovable property in Bengaluru. It has received an earnest deposit of Rs15 crore for a total consideration of Rs61.5 crore. This sale is in line with Sandhar Technologies' strategic objective to consolidate and monetize its non-essential assets, ensuring that its focus remains on its core business operations.
Intellect Design Arena (+2.94%) announced a significant multi-year, multi-million dollar agreement with a leading UK-based global bank. It will deploy its eMACH.ai wholesale banking platform to accelerate its international wholesale banking expansion and create a seamless, future-ready corporate banking experience for its clients
Shree Cement (+0.52%) announced the commissioning of a new clinker grinding unit with a capacity of 3.40 Million Tonnes Per Annum (MTPA) at Baloda Bazar, Raipur, Chhattisgarh. This expansion is a brownfield project, indicating it's an addition to an existing facility.
In Q4FY24-25, Shilchar Technologies (+5.00%)sales shot up by 120% y-o-y to reach Rs232 crore, while operating profit jumped 126.75% y-o-y to reach Rs71.2 crore and Net profit increased 121.60% y-o-y to reach Rs55.4 crore.
In Q4FY24-25, HDFC AMC's (+5.73%) revenues increased by 30.07% y-o-y to reach Rs901 crore, while operating profit increased by 35.62% y-o-y to reach Rs731 crore and Net profit increased by 18.11% y-o-y to reach Rs639 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:
