Nifty, Sensex May Try to Rally
Moneylife Digital Team 16 January 2025
On Thursday, 2150 stocks advanced, 2778 declined and 1188 remained unchanged, with an advance decline ratio of 0.77 on the Bombay Stock Exchange (BSE), indicating negative closing of stocks in broader markets. 
 
The trend of the major indices on Thursday’s trading is given in the table below. 
 
 
On NSE, 24 securities advanced and closed at a new 52-week high whereas 25 securities sank to close at their new 52-week lows. In sectoral indices, Nifty IT, Nifty FMCG and Nifty Pharma were among the biggest losers. Nifty PSU Bank, Nifty Metal and Nifty Energy were among the biggest gainers.
 
TARO Pharmaceuticals Inc., a subsidiary of Sun Pharmaceutical Industries (+0.37%) has agreed to acquire 100% stake in Antibe Therapeutics Inc, Canada. 
 
Waaree Technologies (+4.82%) received order of 99 set of Solar off grid combo (comprising of batteries, solar panel, inverters etc.), to be delivered in three months.
 
Refex Industries (+1.51%)subsidiary—Refex Green Mobility (Refex eVeelz) entered into a strategic tie-up with Gensol Engineering to acquire 2,997 electric four-wheelers (e4Ws). 
 
Gail (India) (+1.45%) and SEFE Marketing & Trading Singapore entered into a settlement agreement. The terms of the settlement agreement include payment of $285 million by SEFE Marketing & Trading Singapore to GAIL (India) and withdrawal of arbitration proceedings before London Court of International Arbitration. 
 
Garuda Construction and Engineering (Garuda) (+6.43%) won an order of Rs1087.34 crore from Gorakhpur Development Authority - a department of the Government of Uttar Pradesh. The company would build a state-of-the-art international convention centre - spread over 24 lakh square feet, with a seating capacity of 5000. Located near Ramgadh Jheel Champadevi Park, the project will also offer the development of adjacent land parcels for commercial and residential use. This addition contributes to its order book of Rs2,830 crore, demonstrating its growing market presence across diverse and specialised construction segments.
 
Rail Vikas Nigam (+10.55%) received letter of acceptance from Bharat Sanchar Nigam (BSNL) for development (creation, upgradation and operation & maintenance) of middle mile network of Bharat Net on design build operate and maintain (DBOM) model. The size of contract is Rs3622.14 crore. 
 
Zen Technologies (+4.03%) secured design registration for its 60 mm mortar training simulator under the Designs Act, India.
 
Azad Engineering (+6.12%) signed a long term supply agreement with GE Vernova International LLC, USA for the supply of highly engineered, complex rotating and stationary Airfoils for Advanced Gas Turbine Engines to meet their global demand in the power generation industry. This current phase of the contract is valued at $112 million (Rs960 crore) to be executed in six years. 
 
Earnings
L&T Technology Services (+8.09%) reported 5.14% fall in its net profit at R 319.50 crore for the quarter ended 31 December 2024 as compared to Rs336.80 crore for the same quarter in the previous year. However, total income of the company increased by 8.14% at Rs2686.50 crore for Q3FY25 as compared to Rs2484.20 crore for the corresponding quarter previous year.
 
Bank of Maharashtra (+1.94%) reported 35.83% rise in its net profit at Rs1,406.73 crore for the quarter ended 31 December 2024 as compared to Rs1,035.69 crore for the same quarter in the previous year. Total income of the bank increased by 21.55% at Rs7,112.66 crore for Q3FY25 as compared to Rs5,851.55 crore for the corresponding quarter previous year.
 
 
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:
 
Comments
Shakeout in Small Caps. What Next?
Debashis Basu, 17 January 2025

Last week, the CNX SmallCap 100 index cracked by 7.3%. On Monday, it crashed a further 4%. The last time the index fell more than this was way back in December 2022 (8.33%). This serious decline comes after months of churning, with...

IPO Review: Stallion India Fluorochemicals Ltd
Moneylife Digital Team 16 January 2025
Stallion India Fluorochemicals Ltd (Stallion), a Mumbai-based company, is in the business of selling refrigerant and industrial gases, along with related products. Its primary business activities include de-bulking, blending and...
5 PSB Shares Jump 20% amidst Report of Govt Nod for Fund-raising via QIPs, OFS
Moneylife Digital Team 14 January 2025
Shares of State-run Indian Overseas Bank (IOB), Bank of Maharashtra (BoM), Punjab & Sind Bank, UCO Bank and Central Bank of India jumped nearly 13% to 20% Tuesday amid reports about the Union government approving fundraising plans for...
IPO Review: Laxmi Dental Ltd
Moneylife Digital Team 12 January 2025
Laxmi Dental Ltd (Laxmi) claims to be India’s only end-to-end integrated dental products company. Its offerings include: custom-made crowns and bridges, branded dental products such as clear aligners, thermoforming sheets, and...
Array
Free Helpline
Legal Credit
Feedback