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Business News/ Markets / Live Blog/  Market Close Highlights : Nifty ends at 22,750 after fresh peak, Sensex at 75,040; PSB, Oil & Gas, FMCG, lead gains
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Market Close Highlights : Nifty ends at 22,750 after fresh peak, Sensex at 75,040; PSB, Oil & Gas, FMCG, lead gains

Market Close Highlights : Foreign institutional investors (FIIs) net sold shares worth 593.20 crore, while domestic institutional investors (DIIs) bought 2,257.18 crore worth of stocks on April 9, provisional data from the NSE showed.

Market Close Highlights : The NSE F&O ban list includes Exide Industries, Hindustan Copper, Vodafone Idea, India Cements, Bandhan Bank, SAIL, and Zee Entertainment Enterprises for April 10.Premium
Market Close Highlights : The NSE F&O ban list includes Exide Industries, Hindustan Copper, Vodafone Idea, India Cements, Bandhan Bank, SAIL, and Zee Entertainment Enterprises for April 10.

Market Close Highlights : European stocks rose, buoyed by bullish news in the technology sector and higher resources prices, before key US inflation data that will provide fresh clues about the Federal Reserve’s policy outlook.

The Stoxx 600 index climbed 0.6%, rebounding from Tuesday’s losses, as surging sales at Taiwan Semiconductor Manufacturing Co. from the boom in global AI development boosted European tech stocks.

Investor attention is focused on the inflation update due later, with economists forecasting that US consumer prices rose 0.3% in March on a monthly basis, both overall and excluding food and energy costs. The swaps market is pricing in around 65 basis points of Fed rate cuts by the end of this year — which is less than what the central bank forecast last month.

“Markets seem poised for an inflation figure that may exceed expectations as odds of a June cut have decreased," said Julien Lafargue, chief market strategist at Barclays Private Bank. “Importantly, speakers for the Fed have often highlighted that two lower inflation prints are required for them to become confident that interest rate cuts are justified." Investors should also keep in mind that the Fed will have further readings on price pressures to evaluate before its June meeting, he said.

Global equities are struggling to build on their best first quarter performance since 2019, as investors temper bets on Fed rate cuts. US economic data has remained resilient, with officials pushing back against the need for easing.

Treasuries were steady after advancing on Tuesday. A gauge of dollar strength was little changed, while New Zealand’s dollar rose against the greenback after the central bank kept its key rate at 5.5% and said a restrictive policy stance remains necessary.

In commodities, copper extended its rally toward $9,500 a ton amid supply risks and a brightening outlook for demand. Prices have risen more than 10% on the London Metal Exchange this year, making copper one of the best-performing industrial metals.

Iron ore was near a two-week high following a 10% surge fueled by bets that a recent slump was overdone given the prospects for demand in China. Gold held a record high as investors positioned for the US inflation data and its impact on the outlook for interest rates. Oil was steady after back-to-back losses after an industry report pointed to a gain in US crude stockpiles, although simmering tensions in the Middle East are expected to cap losses.

In Asia, an index of Hong Kong-listed Chinese stocks gained for the third day and entered a technical bull market after advancing 20% from a January low.

TSMC’s quarterly revenue grew at its fastest pace in more than a year, shoring up expectations that a global boom in artificial intelligence development is fueling demand for high-end chips and servers. The main chipmaker to Nvidia Corp. and Apple Inc. reported a better-than-expected 16% rise in March-quarter sales to about NT$592.6 billion ($18.5 billion), versus the NT$579.5 billion average projection.

10 Apr 2024, 03:41:54 PM IST

Sensex Today Live : Closing Bell

Sensex Today Live : Indian benchmark indices ended the trading session on a robust note, after climbing for most of the day, led by expectations of a positive showing by companies in the Q4 earnings season.

Notably, the benchmark Nifty 50, which opened higher at 22,720.25, climbed to a fresh all-time high of 22,775.70 during the closing hours of the trading session. At close, the Nifty 50 was at 22,753.80, up 111.05 points, or 0.49%.

Separately, the Sensex, which had also opened higher at 74,953.96, touched an intraday high of 75,105.14, just around 20 points short of its all-time high it had touched on Tuesday's trading session. At close, the Sensex was up 354.45 points, or 0.47%, at 75,038.15.

Nine of the 30 stocks on the Sensex ended in the red on Wednesday. Maruti Suzuki India, HDFC Bank, Larsen & Toubro, Mahindra & Mahindra, and Tata Steel, were the top drags for the day, while ITC, Kotak Mahindra Bank, Bharti Airtel, SBI, and Tech Mahindra, were the top gainers.

Meanwhile, on the Nifty 50, 18 of the 50 stocks ended in the red, with HDFC Life, Cipla, Maruti Suzuki India, Divi's Laboratories, and Shriram Finance, emerging as the top losers, and Coal India, BPCL, ITC, Kotak Mahindra Bank, and Hindalco, emerging as the top gainers for the day.

The broader market also ended in the green, with the BSE SmallCap index closing up 0.46%, and the BSE MidCap index gaining 0.89%.

Across sectors, barring the Pharma and Auto benchmarks, which were down 0.34%, and 0.06%, all other sectoral indices ended in the green. Gains were led by the Media index, which closed up 1.80%, followed by PSU Bank index which closed up 1.53%.

The Oil & Gas index gained 1.50%, FMCG index was up 1.23%, Consumer Durables was up 0.68%, while Bank, Realty, and Financial Services closed up 0.53%, 0.59%, and 0.16%. The IT index was closed up 0.61%.

10 Apr 2024, 03:19:02 PM IST

Sensex Today Live : Sector Indices Heat Map

Sensex Today Live : Barring the Pharma and Auto benchmarks, which were down 0.35%, and 0.06%, all other sectoral indices were in the green.

Gains were led by the Media index, which was up 1.23%, followed by PSU Bank index which was up 1.54%.

The Oil & Gas index was up 1.51%, FMCG index was up 1.23%, Consumer Durables was up 0.75%, while Bank, Realty, and Financial Services were up 0.55%, 0.42%, and 0.21%. The IT index was up 0.58%.

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10 Apr 2024, 03:13:24 PM IST

Sensex Today Live : Broader market indices heat map

Sensex Today Live : The broader market was up, with the BSE SmallCap index up 0.55%, and the BSE MidCap index up 0.90%.

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10 Apr 2024, 03:08:03 PM IST

Sensex Today Live : Gainers and Losers on Nifty

Sensex Today Live : 16 of the 50 stocks on the Nifty 50 were in the red, with Cipla, HDFC Life, Maruti Suzuki India, Divi's Laboratories, and HDFC Bank, emerging as the top losers, while Coal India, BPCL, Kotak Mahindra Bank, Hindalco, and ITC, were the top gainers.

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10 Apr 2024, 03:04:32 PM IST

Sensex Today Live : Gainers and Losers on Sensex

Sensex Today Live : Eight of the 30 stocks on the Sensex were in the red. Maruti Suzuki India, Larsen & Toubro, Mahindra & Mahindra, HDFC Bank, and Tata Steel, were the top drags, while ITC, Kotak Mahindra Bank, Bharti Airtel, SBI, and Tech Mahindra, were the top gainers.

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10 Apr 2024, 03:02:11 PM IST

Sensex Today Live : 3 pm Market Update

Sensex Today Live : Indian benchmark indices were in the green on Wednesday, led by robust expectations of a positive showing by companies in the Q4 earnings season.

At 3 pm, the Sensex was up 323.51 points, or 0.43%, at 75,007.51, and the Nifty 50 was up 102.65 points, or 0.45%, at 22,745.40.

10 Apr 2024, 02:56:53 PM IST

Sensex Today Live : One Point One Solutions onboards RazorPay and ICICI Prudential Mutual Funds as clients

Sensex Today Live : One Point One Solutions informed the exchanges today that it has secured contracts from RazorPay and ICICI Prudential Mutual Funds.

The company said, under the terms of agreement with RazorPay, One Point One will manage the end-to-end merchant origination and servicing with the expansion of its operational capacity to 160+ seats from 7 earlier.

The company added that it has been entrusted with the management of end-to-end merchant origination and servicing through its Bengaluru Delivery Center, in which key activities involve Verification, Documentation processing, Customer Support, Banking Operations, Ticket Management, and International Payment Enablement.

Further, under the terms of the agreement with ICICI Prudential Mutual Funds, One Point One will provide the company with services of Activation and Renewals of SIPs.

10 Apr 2024, 02:43:18 PM IST

Sensex Today Live : PC Jeweller board approves ₹1,500 crore fund raise

Sensex Today Live : PC Jeweller informed the exchanges today that its board of directors has approved the company's proposal to raise 1,500 crore.

In an exchange filing, the company said, "The Board of Directors of the Company inter-alia, has approved raising of funds aggregating up to 1500 crores (Rupees One Thousand Five Hundred Crore Only), by issue of equity shares and / or any convertible securities including but not limited to warrants, by way of Rights Issue, Qualified Institutions Placement, Preferential Issue or a combination thereof, subject to necessary regulatory, statutory and other approval(s), if any".

10 Apr 2024, 02:23:01 PM IST

Sensex Today Live : LTIMindtree launches composable storefront solution on Salesforce to quick-launch digital commerce experiences

Sensex Today Live : LTIMindtree today announced the launch of Composable Storefront Quick Launch, a cohesive solution for composable storefront to enable retailers to translate their expectations into elevated customer experiences with e-commerce components that suit their demands. This solution is built on the Salesforce Commerce Cloud, the company said in an exchange filing.

LTIMindtree’s composable storefront solution allows for retailers to create customized shopping experiences to increase business growth, with its over 20 best-in-class UI enhancements and features to kickstart B2C commerce experience in addition to leveraging all out-of-box capabilities including Salesforce Einstein, personalization, campaign management, and Wishlist, the company said.

The solution also helps speed up the go-to-market timeline of the storefront with built-in custom features like enhanced UX, Dynamic Marketing Pages leveraging Page Designer capability, Store Locator with Google Maps, and Order History.

10 Apr 2024, 02:17:02 PM IST

Sensex Today Live : Gaurav Jani, Research Analyst - Insitituional Equities, Prabhudas Lilladher, says deposit growth to outpace loan accretion in Jan-Mar'24 Earnings Preview

Sensex Today Live : Banks under our coverage are expected to witness a weak quarter, as core earnings could fall by 4.6% QoQ to 48,300 crore (vs +1.1% QoQ in Q3’24), mainly driven by reduction in NIM. Loan growth might come in at 4% QoQ (4.3% in Q3FY24), while deposit accretion could be +5.3% QoQ (1.9% last quarter). LDR may fall by 1% QoQ to 86% mainly led by HDFCB. NIM contraction would increase this quarter (vs Q3FY24) and we expect NIM to decline by 10bps QoQ (-2bps in Q3’24) to 3.55%.

IIB, CUB and DCB may see better NIM performance. Owing to seasonality in case of PSU banks, fees for could grow by 9.7% QoQ to 36,000 crore which would be offset by higher opex at 91,800 crore (+10.5% QoQ).

Core PPoP may come in at 72,000 crore (-4.4% QoQ). AXSB, ICICIB and HDFCB might do better on core PPoP. Gross slippage ratio might see a decline of 9bps QoQ as large banks had witnessed increase in agri slippages in Q3’24. Banks’ PAT is expected to decline by 6.1% QoQ to 53,400 crore. Among our coverage universe we prefer AXSB and HDFCB.

 Axis Bank: We maintain multiple at 2.2x on Sep’25 ABV. Retain BUY with TP at 1,250.

 HDFC Bank: We retain BUY with TP at 2,000 and will revisit our estimates post Q4’24 results.

10 Apr 2024, 02:01:41 PM IST

Sensex Today Live : 2 pm Market Update

Sensex Today Live : Indian benchmark indices were in the green on Wednesday, led by robust expectations of a positive showing by companies in the Q4 earnings season.

At 2 pm, the Sensex was up 317.07 points, or 0.42%, at 75,000.77, and the Nifty 50 was up 93.50 points, or 0.41%, at 22,736.25.

10 Apr 2024, 01:29:56 PM IST

Sensex Today Live : Shrivelled paddy, wilted gram signal a lousy harvest ahead

Sensex Today Live : As the government grapples with food inflation, an anticipated surge in the prices of crucial winter (Rabi) crops like gram, paddy, and maize could complicate matters. Agricultural experts predict that these crops will suffer due to dwindling water reservoir levels, higher-than-average temperatures, and diseases, particularly in regions like Karnataka, Andhra Pradesh, Telangana, and Tamil Nadu. Conversely, the prices of other rabi crops, such as wheat and mustard, are not projected to increase. (Read the full story here.)

10 Apr 2024, 01:15:51 PM IST

Sensex Today Live : Swarnendu Bhushan, Co. Head of Research at Prabhudas Lilladher says steady growth expected for telecom companies in Q4 earnings preview

Sensex Today Live : Q4FY24 Revenue and EBITDA of telecom companies in our coverage universe (Jio (unrated) + Bharti) is expected to increase by 2% QoQ and 3% QoQ to 64,660 crore and 34,060 crore, respectively, led by healthy subscriber addition of 13.2mn, besides building gradual increase in ARPU growth (~1% QoQ).

Maintain ‘Accumulate’ rating on Bharti with SOTP based TP of 1,269 as we incorporate minor changes in our assumptions.

Bharti Airtel: For Q4, we have factored subscriber growth of 3mn (Q3FY24: 3 mn) to 349mn coupled with ARPU increase of 1.5% QoQ to 211. Airtel Africa business is expected to see revenue growth of 3% QoQ, and we have factored in a 4% QoQ growth rate for the enterprise business. Home services will see revenue growth of 10% QoQ. For DTH we have factored a growth of 2.2% QoQ.

Accordingly, Bharti’s Q4FY24E consolidated Revenue/EBITDA is expected to increase to Rs387bn (+2.2% QoQ)/Rs203 bn (+2.6% QoQ).

Bharti is also targeting ~ 50,000 crore market opportunity with its Enterprise offerings including CPaaS, cloud, cybersecurity and data centers as company expects 80% of corporates will put up 5G within next 3 years.

JIO: We expect JIO to report Revenue/EBITDA of 25,990 crore (2.4% QoQ)/ 13,760 crore (3.6% QoQ). We have also factored in ARPU of 182 (flat QoQ) and subscriber addition of 10.2 mn in Q4 to 481.1mn.

10 Apr 2024, 01:01:57 PM IST

Sensex Today Live : 1 pm Market Update

Sensex Today Live : Indian benchmark indices were in the green on Wednesday, led by robust expectations of a positive showing by companies in the Q4 earnings season.

At 1 pm, the Sensex was up 188.22 points, or 0.25%, at 74,871.92, and the Nifty 50 was up 53.85 points, or 0.24%, at 22,696.60.

10 Apr 2024, 12:47:26 PM IST

Sensex Today Live : Mahindra EPC Irrigation bags contracts worth ₹6.5 crore for supply of Micro Irrigation Systems and Pumps

Sensex Today Live : Mahindra EPC Irrigation informed the exchanges that it has bagged contracts worth 6.5 crore for the supply of Micro Irrigation Systems and Pumps.

10 Apr 2024, 12:35:33 PM IST

Sensex Today Live : Jash Engineering reports orders worth ₹784 crore in FY24; sets ₹650 crore sales revenue target for FY25

Sensex Today Live : Jash Engineering today reported orders worth 784 crore for FY24 in an exchange filing. The company said it has set 650 crore as sales revenue target for FY25.

In the month of March 2024, the consolidated orders received by the company are worth 45 crore, out of which orders worth 20 crore are for Indian market and orders worth 25 crore are for markets outside India.

As on 1st April 2024, the total consolidated order book position of the company is 784 crore out of which orders worth Rs. 241 crore are for Indian market and orders worth Rs. 543 crore are for markets outside India.

Out of the consolidated orders worth Rs. 543 crore for markets outside India, Rs. 350 crore worth orders are for USA market and remaining Rs. 193 crore constitute orders for rest of the world.

For FY 24-25, company propose a consolidated Sales Revenue Target of Rs. 650 Cr, out of which target for Jash Engineering Ltd. is 400 Cr, Rodney Hunt-USA is Rs. 275 Cr, Shivpad is Rs. 30 Cr, Water Front-UK is Rs. 40 Cr. JEL intercompany sales to subsidiaries is considered as Rs. 95 Cr.

These targets will be further discussed & finalized during Annual Sales Meeting scheduled on 10th & 11th April 24 and will be shared after the Board Meeting scheduled in the 2nd week of May-24.

10 Apr 2024, 12:13:24 PM IST

Sensex Today Live : Sector Indices Heat Map

Sensex Today Live : While Pharma and Auto indices were in the red, both down 0.32% and 0.22%, respectively, Oil & Gas, Metal, Media, and Realty indices were leading gains, up 1.71%, 1.19%, 0.85%, and 0.73%, respectively.

Other heavyweight indices like Auto, IT, Bank, Financial Services and FMCG, were also in the green.

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10 Apr 2024, 12:08:19 PM IST

Sensex Today Live : Broader market indices heat map

Sensex Today Live : The broader market was up, with the BSE SmallCap index climbing 0.30%, and the BSE MidCap index climbing 0.73%.

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10 Apr 2024, 12:06:16 PM IST

Sensex Today Live : Gainers and Losers on Nifty

Sensex Today Live : 20 of the 50 stocks on the Nifty 50 were in the red, with Divi's Laboratories, Cipla, HDFC Life, SBI Life, and Maruti Suzuki India, emerging as the top drags on the benchmark index, while BPCL, Coal India, Kotak Mahindra Bank, Hindalco, and Bharti Airtel, were the top losers. 

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10 Apr 2024, 12:03:52 PM IST

Sensex Today Live : Gainers and Losers on Sensex

Sensex Today Live : 11 of the 30 stocks on the Sensex were in the red, with Maruti Suzuki India, Sun Pharma, Mahindra & Mahindra, Bajaj Finserv, and Larsen & Toubro, emerging as the top losers, and Kotak Mahindra Bank, Bharti Airtel, Tech Mahindra, NTPC, and Power Grid Corp., emerging as the top gainers. 

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10 Apr 2024, 12:01:42 PM IST

Sensex Today Live : 12 pm Market Update

Sensex Today Live : Indian benchmark indices were in the green on Wednesday, led by robust expectations of a positive showing by companies in the Q4 earnings season.

At 12 pm, the Sensex was up 177.88 points, or 0.24%, at 74,861.58, and the Nifty 50 was up 49.70 points, or 0.22%, at 22,692.45.

10 Apr 2024, 11:50:52 AM IST

Sensex Today Live : Finolex Industries shares were up 3% as company sold its leasehold rights for a 25-acre land parcel in Pune to Adani Group led TErravista Developers

Sensex Today Live : PVC pipe manufacturer Finolex Industries has sold its leasehold rights for a 25-acre land parcel in Pimpri, near Pune, to Terravista Developers, a company of the Adani Group. The deal, worth 470 crore, was confirmed by documents obtained by CRE Matrix, a firm specializing in real estate data analytics. The land, initially leased to Finolex Industries by the Maharashtra Industrial Development Corporation (MIDC), is planned to be developed into a large data center by the company, led by AdaniConneX, a joint venture between Adani Enterprises and US-based EdgeConneX.

10 Apr 2024, 11:41:28 AM IST

Sensex Today Live : Cressanda Railway Solutions bags order from Election Commission of India for its Outdoor Media Election Campaign to promote voter awareness through external wrap on trains

Sensex Today Live : Cressanda Railway Solutions today informed the exchanges that it has bagged an order from the Election Commission of India for its outdoor media election campaign to promote voter awareness through external wrap on trains. In an exchange filing, the company said, "We are delighted to inform that The Election Commission of India (ECI) for the first time in history of its Outdoor Media Election Campaign has ventured to Promote Voter Awareness through External Wrap on Trains and in pursuance of this has selected Cressanda Railway Solutions Limited (previously known as Cressanda Solutions Limited) as its agency to promote this prestigious campaign through external wrap on the passenger trains of Eastern Railways for which the sole rights are held by the company."

The trains of the company selected by the Election Commission of India will pass through multiple states of India enabling the Commission to promote Voter’s Awareness across the nation through increased visibility, the company said.

10 Apr 2024, 11:26:53 AM IST

Sensex Today Live : PB Fintech shares surged 7% after partnership with ICICI Lombard General Insurance and launch of a subsidiary for PB Pay

Sensex Today Live : On April 9, the general insurance company announced its strategic alliance with Policybazaar, a digital insurance platform. This collaboration aims to combine ICICI Lombard's diverse product portfolio with Policybazaar's extensive reach, to offer accessible insurance solutions to approximately 1 crore customers. The collaboration will provide customers access to a broad spectrum of insurance products, including motor insurance, health insurance, travel insurance, home insurance, and business insurance, as stated in a joint statement by the companies.

The company also announced the setting up of its fully-owned subsidiary, PB Pay, to operate as a payment aggregator.

10 Apr 2024, 11:14:19 AM IST

Sensex Today Live : Blackstone-backed R Systems International appoint Arun Raghavpudi as Chief Customer Officer and Sanjay Sahay as Chief Marketing Officer

Sensex Today Live : Blackstone-backed R Systems International today informed the exchanges that it has appointed Arun Raghavpudi as Chief Customer Officer and Sanjay Sahay as Chief Marketing Officer of the company.

The company said it aims to deepen client relationships and accelerate its growth trajectory, by strengthening its C-suite with the appointment of these two seasoned executives.

Arun Raghavpudi joins the company as the Chief Customer Officer, bringing with him a wealth of experience, having spent 25 years in various roles at large and mid-size enterprises ITC Infotech, InfoVision Inc., Genpact, and Infosys.

Sanjay Sahay steps into the role of CMO with over 25 years of experience in transforming B2B marketing. His appointment marks a significant step in redefining R Systems’ marketing operating model to establish a digital-first marketing organization. Prior to joining R Systems, he served as Vice President and Global Head of Digital Marketing at Infosys, where he spearheaded digital-first global brand campaigns.

10 Apr 2024, 11:09:42 AM IST

Sensex Today Live : Protean eGov Technologies shares up 3% on news company is looking to fund raise through QIP

Sensex Today Live : Protean eGov Technologies is reportedly preparing to initiate a Qualified Institutional Placement (QIP), according to informed sources. The QIP offering is set to include a base issue size of 170 crore along with a green shoe option of 75 crore, reported CNBC-TV18. Equirus has been selected as the banker for the transaction.

10 Apr 2024, 11:02:14 AM IST

Sensex Today Live : 11 am Market Update

Sensex Today Live : Indian benchmark indices opened in the green on Wednesday, led by robust expectations of a positive showing by companies in the Q4 earnings season.

At 11 am, the Sensex was up 230.09 points, or 0.31%, at 74,913.79, and Nifty was up 63.60 points, or 0.28%, at 22,706.35.

10 Apr 2024, 10:50:08 AM IST

Sensex Today Live : Ramco Systems shares jump 20%, locked into upper circuit as Korean Air selects company to replace legacy systems at its engine shops

Sensex Today Live : Aviation software provider Ramco Systems informed the exchanges today its strategic engagement with Korean Air to implement its flagship aviation software, Ramco Aviation Suite at Korean Air’s Engine Maintenance Center.

This association was officially announced at MRO Americas 2024, Chicago, the company said.

The implementation of Ramco’s Aviation software will replace multiple legacy systems to streamline operations across current engine shops and planned expansion sites, the company said. With comprehensive MRO-specific functionalities, and integrated e-publications, all on a unified platform, Ramco Aviation will serve as the technological foundation for Korean Air, the company said in its exchange filing.

10 Apr 2024, 10:40:35 AM IST

Sensex Today Live : SPARC shares drop 5% after company decides to discontinue trial for early Parkinson’s disease drug

Sensex Today Live : Sun Pharma Advanced Research Company (SPARC) today announced the results of the interim analysis from the PROSEEK study, a global, randomised, double blind, placebo-controlled Phase 2 study in patients with early Parkinson’s disease. PROSEEK compared two doses of Vodobatinib with placebo and enrolled a total of 513 patients from US, Europe and India.

The company said, the interim analysis was based on data from 442 patients who completed 40 weeks treatment in Part I of the study. The study failed to demonstrate superiority of Vodobatinib in the prespecified primary endpoint of change in MDS-UPDRS Part III total score as compared to placebo, the company announced in its exchange filing.

SPARC has reviewed the data and determined that the study has not shown evidence of treatment benefit in patients receiving Vodobatinib, and consequently decided to close the study. 

10 Apr 2024, 10:23:15 AM IST

Sensex Today Live : Aether Industries and Novoloop achieve continuous operations of pilot plant that transforms post-consumer polyethylene plastic waste into virgin-quality monomers

Sensex Today Live : Aether Industries today informed the exchanges that it has achieved the continuous operations of a pilot plant that transforms post-consumer polyethylene plastic waste into virgin-quality monomers, in collaboration with US-based Novoloop, a plastic circular economy technology company.

The company, in an exchange filing, said, "The pilot plant has now passed equipment testing and solvent runs, and has achieved continuous operations with the usage of commercially-representative waste feedstock".

The company said, this milestone marks the successful transition from batch reactions to an integrated and automated plant that validates Novoloop's Lifecycling technology. Novoloop’s Lifecycling process transforms post-consumer polyethylene plastic waste into virgin-quality monomers for performance materials at a carbon footprint reduction of up to 91% when compared to the conventional process of producing adipic acid, the company said.

10 Apr 2024, 10:10:12 AM IST

Sensex Today Live : IRB Infrastructure Developers subsidiary loses arbitration award in Ahmedabad Vadodara Super Express Tollway case

Sensex Today Live : IRB Infrastructure Developers today informed the exchanges that its subsidiary IRB Ahmedabad Vadodara Super Express Tollway Pvt. Ltd. has received the Arbitral Award with respect to its claim on account of revenue losses due to emergence of the competing road running parallel to the project highway.

Under the claim, IRBAV had contended that the competing road came into existence in the year 2015-16. Accordingly, a compensation amounting to 1,032.61 crore plus interest was claimed from NHAI, the company said in its exchange filing.

It added that the NHAI’s contention was primarily that there was no competing road. NHAI had a counter claim on the IRBAV amounting to Rs. 29.73 Crore on account of advancement of premium due to cash surplus available with IRBAV in the FY2014-15.

The Arbitral Tribunal, in its award, declared that the competing road came into existence in January 2019 (when 75% of the length of competing road was completed) and not in the year 2015-16. However, due to technical reasons, no compensation was awarded on account of this competing road, the company said.

The award has also directed IRBAV to make the payment of Premium to NHAI as per the Premium Deferment Scheme. However, the counter claim of NHAI for advancement of Premium amounting to 29.73 Crore has been rejected.

Additionally, an amount of 1.9 Crore plus interest has been awarded to the claimant on account of losses due to unwarranted retention of Bank Guarantee by NHAI, IRB said. NHAI has also been directed to return the said Bank Guarantee to IRBAV.

10 Apr 2024, 10:02:09 AM IST

Sensex Today Live : 10 am Market Update

Sensex Today Live : Indian benchmark indices opened in the green on Wednesday, led by robust expectations of a positive showing by companies in the Q4 earnings season.

At 10 am, the Sensex was up 199.52 points, or 0.27%, at 74,883.22, and Nifty was up 52.90 points, or 0.23%, at 22,695.65.

10 Apr 2024, 09:53:17 AM IST

Sensex Today Live : Sun Pharma Advanced Research Company reveals interim results of trail for early Parkinson’s disease drug; to discontinue trial after study shows no evidence of treatment benefit

Sensex Today Live : Sun Pharma Advanced Research Company (SPARC) today announced the results of the interim analysis from the PROSEEK study, a global, randomised, double blind, placebo-controlled Phase 2 study in patients with early Parkinson’s disease. PROSEEK compared two doses of Vodobatinib with placebo and enrolled a total of 513 patients from US, Europe and India.

The company said, the interim analysis was based on data from 442 patients who completed 40 weeks treatment in Part I of the study. The study failed to demonstrate superiority of Vodobatinib in the prespecified primary endpoint of change in MDS-UPDRS Part III total score as compared to placebo, the company announced in its exchange filing.

SPARC has reviewed the data and determined that the study has not shown evidence of treatment benefit in patients receiving Vodobatinib, and consequently decided to close the study. It plans to complete the full analysis of clinical outcomes and correlative biomarker data in the coming months.

10 Apr 2024, 09:52:20 AM IST

Sensex Today Live : Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher, gives technical outlook for Bank Nifty

Sensex Today Live : "Bank Nifty has gained strength after it has entered into a new territory at 52-week high zone of 48,960 levels and has further upside potential target of 49,800 level in the coming days with 47,700 as the important support zone as of now.

Frontline banking stocks like ICICI Bank, Axis Bank and Kotak Bank are well poised for further upward movement which can help the index to gain further. Banknifty would have the daily range of 48,400-49,200 levels."

--Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher

10 Apr 2024, 09:45:27 AM IST

Sensex Today Live : Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher, gives technical outlook for Nifty

Sensex Today Live : Nifty found resistance near the long term trend line zone of 22,760 levels and slipped gradually to end near the 22,650 zone with bias maintained positive and further scope for upside movement in wide open. As mentioned earlier, the index has got the near-term target of 22,800 and 23,200 levels with 22,000 zone maintained as the important and crucial support level. The support for the day is seen at 22,500 level while the resistance would be seen at 22,800.

10 Apr 2024, 09:30:46 AM IST

Sensex Today Live : Sector Indices Heat Map

Sensex Today Live : Barring the Pharma and Healthcare indices, which were down 0.17%, and 0.12%, respectively, all other sectoral indices were in the green. Gains were led by Metal, Oil & Gas, Realty and Auto indices, which were up 00.98%, 0.95%, 0.74%, and 0.44%, respectively. 

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10 Apr 2024, 09:27:23 AM IST

Sensex Today Live : Broader market indices heat map

Sensex Today Live : The broader market was up, with the BSE MidCap index gaining 0.38%, and the BSE SmallCap index gaining 0.38%. 

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10 Apr 2024, 09:26:12 AM IST

Sensex Today Live : Gainers and Losers on Nifty

Sensex Today Live : 18 of the 50 stocks on the Nifty 50 were in the red, with  losses led by Divi's Laboratories, HDFC Bank, Apollo Hospital Enterprises, Eicher Motors, and Sun Pharma, while gains were led by Tata Steel, Bharti Airtel, BPCL, JSW Steel, and Reliance Industries.

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10 Apr 2024, 09:23:40 AM IST

Sensex Today Live : Gainers and Losers on Sensex

Sensex Today Live : Only six out of the 30 stocks on the Sensex were down, with Sun Pharma, HDFC Bank, UltraTech Cement, TCS, Nestle India, and HUL in the red. Meanwhile, the top gainers were Tata Steel, Bharti Airtel, JSW Steel, Reliance Industries, and Tata Motors

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10 Apr 2024, 09:21:18 AM IST

Sensex Today Live : Korean Air selects Ramco Aviation to replace legacy systems at its engine shops

Sensex Today Live : Aviation software provider Ramco Systems informed the exchanges today its strategic engagement with Korean Air to implement its flagship aviation software, Ramco Aviation Suite at Korean Air’s Engine Maintenance Center.

This association was officially announced at MRO Americas 2024, Chicago, the company said.

This engagement comes close on the heels of the airline announcing the construction of its new engine MRO facility in Unbuk, near Incheon International Airport, which consolidates all engine MRO capabilities into a single cluster. The airline currently conducts MRO work on six engine models, and with this expansion, Korean Air is looking to add three more engine types to its aircraft family.

The implementation of Ramco’s Aviation software will replace multiple legacy systems to streamline operations across current engine shops and planned expansion sites, the company said. With comprehensive MRO-specific functionalities, and integrated e-publications, all on a unified platform, Ramco Aviation will serve as the technological foundation for Korean Air, the company said in its exchange filing.

10 Apr 2024, 09:17:14 AM IST

Sensex Today Live : Opening Bell

Sensex Today Live : Indian benchmark indices opened in the green on wednesday, led by robust expectations of a positive showing by companies in the Q4 earnings season.

At opening bell, Sensex was up 236.84 points, or 0.32%, at 74,920.54, and Nifty was up 50.75 points, or 0.22%, at 22,705.50.

10 Apr 2024, 09:12:04 AM IST

Sensex Today Live : Suraj Estate Developers amicably settles pending litigation with OLV & OLPS Society; gets development rights for 51,500 sq. ft.

Sensex Today Live : Suraj Estate Developers Limited informed the exchanges today it has amicably settled a pending litigation with OLV & OLPS Society

In an exchange filing, the compansy said consent terms have been filed for the development of property bearing F.P.557 of TPS III, Mahim Division, measuring approximately 7,625.73 square meters.

As per the consent terms, the company has agreed to pay the landowner a consideration of approximately Rs. 47 Crores and provide additional flats to OLV & OLPS Society, measuring approximately 3,300 square meters (~35,500 Sq. Ft). This leaves the company with a built-up area of 10,813.63 square meters (~1,16,400 Sq. Ft.), including fungible FSI for sale, amounting to a GDV of 350 crores.

Additionally, the company won a bid for obtaining Development Rights of Land Component measuring 4,790.76 square meters (~51,500 Sq. Ft.) with five existing buildings thereon in the occupation of 108 tenants/occupants.

The FSI is to be consumed for rehousing the 108 existing tenants/occupants of the said five buildings is estimated to be 6,688.90 square meters (~72,000 Sq. Ft.).

After handing over surplus area to MHADA, the balance built-up area for sale available to the company is estimated to be a minimum of 6,467.52 square meters (~70,000 Sq. Ft.) with a GDV of approximately 225 crores.

10 Apr 2024, 09:11:24 AM IST

Sensex Today Live : Benchmark indices jump during pre-open

Sensex Today Live : Indian benchmark indices were up at pre-open on Wednesday, led by robust expectations of a positive showing by companies in the Q4 earnings season.

Sensex was up 270.26 points, or 0.36%, at 74,953.96 and Nifty was up 79.60 points, or 0.35%, at 22,722.35 during pre-open.

10 Apr 2024, 08:59:43 AM IST

Sensex Today Live : Lemon Tree Hotels launches its first property in Nepal with Lemon Tree Premier in Budhanilkantha, Kathmandu

Sensex Today Live : Lemon Tree Hotels informed the exchanges today that it has launched its first property in Nepal with Lemon Tree Premier in Budhanilkantha, Kathmandu.

In an exchange filing, the company said, the property in Kathmandu features 102 well-appointed rooms and suites, banquet and meeting rooms, restaurants, an infinity pool and other public areas.

This marks not just the entry of Lemon Tree Hotels in to Nepal, but also marks the milestone of Lemon Tree’s inventory reaching 10,000 rooms, the company said.

10 Apr 2024, 08:55:11 AM IST

Sensex Today Live : Stocks to Watch

Sensex Today Live : Paytm, Godrej Properties, RattanIndia, Protean eGov, Finolex, are a few stocks likely to be in focus on Wednesday, April 10.

10 Apr 2024, 08:51:06 AM IST

Sensex Today Live : What to expect from Indian stock market in trade on April 10

Sensex Today Live : The Indian stock market, represented by the Sensex and Nifty 50 indices, is projected to start the day on a positive note, despite mixed signals from the global market. The Gift Nifty trends suggest a gap-up opening for the Indian benchmark index, trading around the 22,820 mark, nearly 85 points above the previous close of Nifty futures.

On Tuesday, the domestic equity benchmark indices couldn't maintain their intraday gains, ending slightly lower due to profit booking at record-high levels. The Sensex dropped by 58.80 points to close at 74,683.70, while the Nifty 50 index fell by 23.55 points, or 0.1%, to settle at 22,642.75.

The Nifty 50 formed a minor negative candle on the daily chart at new all-time highs. "Technically, this pattern suggests market fatigue at new highs. The Nifty is currently near the critical overhead resistance of the ascending resistance line and the significant Fibonacci extension around 22,750 - 22,800 levels," stated Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. (Read the full story here.)

10 Apr 2024, 08:39:55 AM IST

Sensex Today Live : Seven key things that changed for market overnight - Gift Nifty, US Treasury yields to oil prices

Sensex Today Live : The local stock market is predicted to start off on a positive note on Wednesday, despite the mixed signals from global markets. Asian markets mostly saw a downturn, while US stocks had a mixed close the previous night, with key inflation data on the horizon.

Attention of market players will now shift towards the inflation data from the US and China, as well as the minutes from the US Federal Open Market Committee (FOMC) meeting, all set to be unveiled later today.

Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services Ltd, anticipates the positive trend to persist, backed by robust Q4 business updates and solid macroeconomic data. As the earnings season commences, individual stock movements are expected to keep the market lively. Stocks related to agriculture and rural sectors are projected to garner attention, following Skymet's prediction of a normal monsoon for India in 2024. (Read the full story here.)

10 Apr 2024, 08:33:28 AM IST

Sensex Today Live : Asian peers muted, Gift Nifty indicates positive sentiment for Indian markets

Sensex Today Live : Indian stock markets were likely top open on a positive note, led by expectations of a robust Q4 earnings season, as indicated by the buoyancy in Gifty Nifty futures.

At 8:20 am, the Gift Nifty was at 22,823, nearly 200 points ahead of Nifty 50's Tuesday close of 22,642.75, indicating that investors were not weighed down much by the muted sentiment flowing from global peers.

Asian stocks were muted as investors kept watch for possible intervention by Japanese authorities to stop the yen's decline and awaited U.S. inflation data later on Wednesday for clues to future interest rate moves.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2%, after U.S. stocks ended the previous session with mild gains. The index is up 0.2% so far this month.

The yield on benchmark 10-year Treasury notes was at 4.3636% compared with its U.S. close of 4.366% on Tuesday. The two-year yield, which rises with traders' expectations of higher Fed fund rates, touched 4.7426% compared with a U.S. close of 4.747%.

Australian shares were up 0.3% in early trade, while Japan's Nikkei stock index was down 0.41%. The Nikkei is looking to test 40,000 points again, with the yen's slide seen helping fuel that push.

However, further weakness in the Japanese currency could prompt authorities to intervene, especially if the yen breaks 152 per dollar.

In Asian trade, the dollar dropped 0.01% against the yen to 151.76. The currency is getting closer to its high this year of 151.97 on March 27. Hong Kong's Hang Seng Index edged up 0.7% early while China's blue chip CSI300 index was flat.

U.S. consumer price data due on Wednesday will be closely watched by investors as they seek direction on the next move in interest rates. The data is expected to show a rise in headline inflation to 3.4% year-on-year, from 3.2% in February.

"Markets are looking at the data to answer one question: is inflation sticky or is the disinflation progress in line with Fed's expectations?," ANZ's economists said. "We think the data will suggest that inflation pressures are waning slowly."

The prospect of a U.S. interest rate cut as early as June is now being considered by financial markets, with the inflation reading seen as key to the central bank's next move.

In the U.S., the Dow Jones index finished down 0.02%, the S&P 500 gained 0.1%, while the Nasdaq Composite rose 0.3%. U.S. crude ticked up slightly to $85.31 a barrel. Brent crude was flat at $89.42 per barrel. Gold was slightly higher. Spot gold traded at $2,352.93 per ounce.

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