Reliance Industries hits record high, HDFC Bank gains & more

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NIFTY50: 21,737 ▲ 385 (+1.8%) 
 SENSEX: 71,941 ▲ 1,240 (+1.7%)

  • Benchmark indices started the week on a positive note
  • In all, 40 of the NIFTY50 stocks closed in the green
  • WTI crude futures hovered around $78 per barrel, near a three-month high, following a 6.5% surge last week

Among the NIFTY sectoral indices, Oil & Gas (+5.1%) and PSU Bank (+2.4%) were the top gainers, while FMCG (-0.1%) was the top loser.

What's Up

Top gainers Today's change
ONGC 254 ▲ 20 (+8.8%)
Reliance 2,890 ▲ 183 (+6.8%)
Coal India
413 ▲ 24 (+6.2%)

What's Down

Top losers Today's change
1,341 ▼ 28 (-2.0%)
ITC 448 ▼ 6.9 (-1.5%)
Infosys 1,651 ▼ 18 (-1.0%)

Market Sentiment

USD-INR  83.15 ▲ 0.03 (+0.04%)
NIFTY MIDCAP 100 47,289 ▲ 770 (+1.6%)
NIFTY SMALLCAP 100 15,638 ▲ 229 (+1.4%)
India VIX 15.6 ▲ 1.8 (+13.0%)

Stock Buzz

⭐ Reliance Industries hits record high

Reliance Industries’ shares rose 6.8% today, after hitting a 52-week high of ₹2,905 per share intraday. This was a few days after the company reported a 9.3% year-on-year surge in its consolidated net profit to ₹17,265 crore for the December quarter in Q3 FY24. Meanwhile, the company's market capitalisation surpassed ₹19 lakh crore mark for the first time.

⭐ HDFC Bank gains after RBI approves LIC's stake increase

HDFC Bank shares gained 1.5% today. This came after the RBI gave its approval to LIC to acquire up to a 9.99% stake in the bank within the next one year. LIC currently holds a 5.2% stake in the bank, and has an option to acquire up to 4.8% additional stake in the bank before 24 January 2025. Earlier, HDFC Bank shares slumped 14% after its December quarter results.

⭐ BPCL surges on robust Q3 numbers

Shares of the state-owned oil producer jumped 3.9% today. This was after the company reported a 82% year-on-year (YoY) surge in its consolidated net profit to ₹3,181 crore in the December quarter of FY24. The increase was mainly due to better refining margins and higher margins on fuel sales. However, fuel prices have remained unchanged for the past 21 months.

⭐ Adani Green Energy gains after strong Q3 result

Shares of Adani Green Energy climbed 2.8% today. This came after the renewable energy company reported a 148% YoY surge in its consolidated net profit to ₹256 crore in the third quarter of FY24. Meanwhile, its revenue from operations was up 17% YoY at ₹2,311 crore. Its EBITDA rose 95% YoY to ₹1,666 crore.

IPO Corner

⭐ SBI Cards closed 5.7% lower today, after its Q3 asset quality deteriorated. Its NPAs increased to 2.6% of the loan book in the December quarter, compared to 2.3% in the same period last year.

⭐ Sun Pharma shares hit a 52-week high of ₹1,420 per share and closed 2.1% higher. This came after Sun Pharma’s Israel-based subsidiary Taro Pharmaceutical Industries reported a 13% YoY surge in its revenue to $157.14 million, while its net profit stood at $20.2 million in Q3 FY24.


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What is EBITDA?

EBITDA (earnings before interest, taxes, depreciation, and amortisation) is a financial metric used to assess a company's operational performance and profitability. It reflects the earnings generated from core business operations before accounting for non-operating expenses and non-cash items like depreciation and amortisation, providing insight into its underlying profitability.

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