Nifty, Sensex Stablising; FPIs Sales Continue
Moneylife Digital Team 15 January 2025
On Wednesday, 2150 stocks advanced, 1096 declined and 1806 remained unchanged, with an advance decline ratio of 1.19x on the Bombay Stock Exchange (BSE), indicating positive closing of stocks in broader markets.
 
The trend of the major indices on Wednesday’s trading is given in the table below.
 
 
On NSE, 24 securities advanced and closed at a new 52-week high whereas 85 securities sank to close at their new 52-week lows.  In sectoral indices, Nifty Media, Nifty Pharma and Nifty Auto were among the biggest losers. Nifty Infrastructure, Nifty IT and Nifty Energy were among the biggest gainers.
 
Alembic Pharmaceuticals (-0.74%) received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Brexpiprazole Tablets, 0.25 mg, 0.5 mg, 1 mg, 2 mg, 3 mg and 4 mg. 
 
Morepen Laboratories (-1.66%) received an approval for the hiving off the medical devices business, being an undertaking, to Morepen Medtech, a subsidiary of the company, on a 'slump sale' basis as a going concern. This hiving off is subject to the receipt of requisite regulatory approvals, including approval of the members of the company. 
 
Minda Corporation (+4.96%) received approval from board of directors to acquire 2,55,40,578 Equity Shares with face value of Rs1 each of Flash Electronics (India) representing 49% of the total issued and paid-up equity share capital. The investment is a strategic partnership and would help unlock synergies across products, customers, technology and manufacturing excellence.
 
Indian Railway Finance Corporation (IRFC) (+1.48%) emerged as the L1 bidder for financing Rs3,167 crore for the development of the Banhardih Coal Block in Latehar District, Jharkhand. This project is being undertaken by Patratu Vidyut Utpadan Nigam (PVUNL), a joint venture between NTPC (74% equity stake) and Jharkhand Bijli Vitran Nigam (26% equity stake). The Banhardih Coal Block has been allocated to PVUNL as a captive coal source. Coal from the block will be transported to Chetar Station via Mine-Gain-Rail (MGR) and then to PVUNL's project site using Indian Railways.
 
ASK Automotive (+6.40%) commenced the commercial production at its Manufacturing Facility in Karnataka, established by its wholly owned subsidiary, ASK Automobiles. The said facility is the 18th facility of the group and third facility of ASK Automobiles and the same will primarily cater to the demand of OEM customers in southern India.
 
Premier Energies (+2.78%) subsidiaries—Premier Energies Global Environment, Premier Energies International, Premier Energies Photovoltaic received multiple orders aggregating to Rs1460 crore from two large Independent Power Producers (IPP) and others. These orders include Rs1041 crore for solar modules and Rs419 crore for solar cells. The supply of these modules is scheduled to commence from May 2025.
 
Welspun Corp and Saudi Aramco signed memorandum of understanding of strategic cooperation to establish a state-of-the-art line pipe manufacturing capacity in the Kingdom of Saudi Arabia, at the ongoing Aramco IKTVA forum & exhibition 2025. The production capacity of this plant will be 3,50,000 MT/Annum.
 
Earnings
Shoppers Stop (+0.79%) reported 41.74% rise in net profit at Rs52.23 crore for Q3FY25 as compared to Rs36.85 crore for the same quarter in the previous year. Total income of the company increased by 12.98% at Rs1,402.00 crore for Q3FY25 as compared to Rs1,240.88 crore for the corresponding quarter previous year.
 
HDFC Asset Management Company (+4.72%) reported 31.45% rise in its net profit at Rs641.36 crore for the quarter ended December 31, 2024 as compared to Rs487.92 crore for the same quarter in the previous year. Total income of the company increased by 26.23% at Rs1,027.72 crore for Q3FY25 as compared to Rs814.18 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:
 
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