NIFTY50: 21,571 ▼ 50 (-0.2%)
SENSEX: 71,423 ▼ 259 (-0.3%)
- Benchmark indices closed lower after a volatile session
- In all, 30 of the NIFTY50 stocks closed in the red
- Monday, 22 January is a market holiday for Equity, F&O and Currency segments
Among the NIFTY sectoral indices, PSU Bank (+1.8%) and Bank (+0.7%) were the top gainers, while FMCG (-1.1%) and IT (-1.0%) were the top losers.
What's Up
| Top gainers | Today's change |
| Coal India | 399 ▲ 15 (+4.1%)) |
| Adani Ports | 1,190 ▲ 38 (+3.3%) |
| Kotak Bank | 1,810 ▲ 45 (+2.5%) |
What's Down
| Top losers | Today's change |
| HUL | 2,470 ▼ 95 (-3.7%) |
| TCS | 3,859 ▼ 83 (-2.1%) |
| M&M | 1,624 ▼ 31 (-1.9%) |
Market Sentiment
| USD-INR | 83.11 ▼ 0.05 (-0.06%) |
| NIFTY MIDCAP 100 | 48,062 ▲ 246 (+0.5%) |
| NIFTY SMALLCAP 100 | 15,518 ▲ 31 (+0.2%) |
| India VIX | 13.80 ▼ 0.2 (-1.9%) |
Stock Buzz
⭐ Kotak Bank gains on robust Q3 numbersl
Shares of Kotak Mahindra Bank closed 2.5% higher today. This was after the company reported a 7.6% year-on-year (YoY) rise in its standalone profit to ₹3,005 crore in Q3 FY24. The private lender’s net interest income rose 16% YoY to ₹6,554 crore in the same period. Its gross non-performing assets (NPA) stood at 1.73% in this quarter compared to 1.90% in the same quarter last year.
⭐ RITES zooms on new order win
Shares of the multidisciplinary engineering and consultancy organisation closed 12.9% higher today. This came after the company emerged as the lowest bidder for the project worth ₹414 crore. The company will provide project management consultancy services for infrastructure works at IIT-Bhubaneswar.
⭐ Tejas Networks plunges after Q3 loss widens
Shares of Tejas Networks closed 5.7% lower today. This was after the company reported a rise of 195% YoY in its net loss of ₹44.9 crore and missed the street estimates during the third quarter of FY24. Meanwhile, its revenue grew by 104% YoY to ₹560 crore for the quarter. The company stated that it has continued investments to expand R&D teams and operations, aiming to speed up product development and execute large projects.
⭐ IREDA surges 10% on profit jump
Shares of the recently listed government owned energy development agency were locked in the 10% upper circuit today. This was after the company reported a 67% year-on-year (YoY) growth in its net profit to ₹335 crore in Q3 FY24. Its loan book grew 33% to ₹50,579 crore. While its net NPA went down to 1.5% from 2% last year in the same quarter.
IPO Corner
⭐ On Day 2, the EPACK Durable IPO received an overall subscription of 0.8 times, with the retail segment being subscribed 1.2 times. To know more and apply click here.
Learn with Upstox
What are non-performing assets?
Non-performing assets (NPAs) are loans that borrowers have failed to repay for a specified period, usually 90 days. These assets can impact a bank's financial health, leading to a decrease in profitability. Monitoring and managing NPAs are crucial for financial institutions to maintain stability and ensure the effective deployment of funds.
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