Latest Stock Market News

Gold prices rose Rs 500 to reclaim the Rs 80,000 mark in the national capital on Friday amid fresh buying by local jewellers and retailers for the wedding festivities, according to the All India Sarafa Association.

The NSE IPO has experienced delays since it initially filed its draft red herring prospectus (DRHP) in 2016. This was met with objections due to the co-location scam, where certain brokers gained an unfair advantage by obtaining faster access to NSE’s systems, data, and trading facilities, disadvantaging the broader market.

Dragged down by losses in realty, PSU, and oil & gas stocks, Indian equity markets extended their decline for the second straight session, erasing all gains made on the U.S. election results day.

Among Sensex stocks, ICICI Bank, NTPC, RIL, Tata Motors, SBI, Tata Steel and Asian Paints were the top losers, tumbling 1.5-2.7%. Meanwhile, M&M, Titan, Tech Mahindra, Infosys and Nestle India closed in green. As the markets were trying to digest the impact of a Trump presidency from next year, the US Federal Reserve went ahead with a 25 basis point rate cut as expected.

Tata Motors Q2 Results: During the quarter, its revenue dropped 3.5% YoY to Rs 101,450 crore. In a challenging environment, the company’s EBITDA margin dropped by 230 bps YoY to 11.4%, with caution on short-term domestic demand. JLR revenue fell 5.6% to £6.5 billion due to supply issues, leading to a 220 bps EBIT margin drop to 5.1%. Commercial vehicle revenue declined 13.9%, but EBITDA margin improved to 10.8% (up 40 bps) due to favourable pricing and cost savings.

The India Cements Ltd (ICL) on Friday reported widening of consolidated net loss to Rs 339.13 crore for the second quarter ended September 2024, impacted by a decline in selling price. It had incurred a loss of Rs 80.07 crore in the July-September period a year ago, according to a BSE filing from ICL, in which rival Aditya Birla group firm UltraTech Cement has announced to acquire a majority stake.

The National Stock Exchange of India (NSE) is gearing up to strengthen its commodities segment with plans to roll out new contracts in the next few months, an NSE official said on Friday. The exchange is looking to leverage its expansive reach and financial strength to make a significant mark in commodities trading.

State Bank of India is likely to issue infrastructure bonds for the third time this year before the end of this month, two sources with direct knowledge of the matter said, as demand for credit by steel, roads and renewable energy remains strong.

Ola Electric Q2 Results: Revenue from operations increased by 39% YoY to Rs 1,214 crore in the September quarter. However, the loss widened sequentially from Rs 347 crore in the previous June quarter. EBITDA losses for the quarter stood at Rs 223 crore, which is higher compared with Rs 321 crore loss reported in the last year period. However, on a quarter-on-quarter basis, operating losses widened from Rs 65 crore posted in Q1FY25.

The Nifty Bank index closed 0.68 per cent at 51561.20.