Indian Stock Market LIVE: Nifty Above 25,800, Sensex Rises Nearly 400 Points; RIL, Bharti Airtel Top Gainers
Good afternoon, the NSE Nifty 50 and BSE Sensex were trading in a narrow range. Reliance Industries Ltd., Bajaj Finserve Ltd., and Shriram Finance Ltd. were top gainers in the NSE Nifty 50 index. The NSE Nifty PSU Bank was the top performing sectoral index. The Nifty 50 is facing a strong resistance at 25,900.
Samvat 2082 Arrives with Momentum in Indian Stock Market
Samvat 2082 has arrived and India’s stock market is poised to maintain its momentum. From last Diwali, the market has shown a mixed to positive trend for the period. The benchmark Nifty 50 index delivered a moderate return of 6%. The Nifty Bank was the standout performer among the major indices, posting a strong gain of 12%.
The Nifty Midcap100 also ended in positive territory with a 5% gain. However, the smaller-cap segment underperformed significantly, with the Nifty Smallcap 250 declining by 4%. Notably, both the Nifty and Sensex are closing in on their life highs touched in September 2024.
Ceat Ltd. Shares Hit Life High on Strong Q2 Results
Ceat Ltd. shares hit life high on Monday after second quarter financial results came higher than expected. Consolidated revenue grew by 14% year-on-year to Rs 3,772 crore, beating the Bloomberg consensus estimate of Rs 3,673 crore. Net Profit jumped by 52% to Rs 185 crore against the estimated Rs 140 crore.
Operational profitability improved with Ebitda rising by 39% to Rs 506 crore, exceeding the Rs 428 crore estimate. Ebitda margin expanded by 240 basis points, reaching 13.4%, compared to a forecast of 11.7%.
JSW Paints’ Open Offer for Akzo Nobel’s Share to Start from Oct 23–Nov 6
JSW Paints’ open offer for Akzo Nobel’s share to start from Oct 23–Nov 6, the company said in the exchange filing.
Akums Drugs and Pharmaceuticals Incorporated Wholly Owned Subsidiary
Akums Drugs and Pharmaceuticals incorporated wholly owned subsidiary Akums Healthcare Malta in Europe, the company said in the exchange filing.
Federal Bank Share Price Rose 8.06% to a Record High
Federal Bank share price rose 8.06% to a record high of Rs 229.49 apiece. The stock scaled a fresh high despite delivering a disappointing results for the second quarter as most bank stocks advanced.
Net profit down 9.6% to Rs 955.26 crore versus Rs 1,056.69 crore. Net interest income down 19.9% to Rs 1,896 crore versus Rs 2,367 crore. Provisions up 129.7% to Rs 363 crore versus Rs 158 crore. Gross NPA at 1.83% versus 1.91% (QoQ). Net NPA flat at 0.48% (QoQ).
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Conclusion
In conclusion, the Indian stock market is poised to maintain its momentum in Samvat 2082. The Nifty 50 index is facing a strong resistance at 25,900, and the Sensex is closing in on its life highs touched in September 2024. Ceat Ltd. shares hit life high on strong Q2 results, and JSW Paints’ open offer for Akzo Nobel’s share is set to start from Oct 23–Nov 6.
For investors looking to make informed decisions, it’s essential to stay up-to-date with the latest Q2 results and Indian stock market news. Our website provides comprehensive coverage of the Indian stock market, including Nifty levels, Sensex moves, and stock market tips.
