NIFTY50: 21,647 ▲ 28 (+0.13%)
SENSEX: 71,721 ▲ 63 (+0.09%)
- Benchmark indices closed marginally higher amid volatility
- In all, 25 of the NIFTY50 stocks closed in the green
- MCX Gold futures climbed 0.4% today, ahead of US inflation data
Among the NIFTY sectoral indices, Oil & Gas (+1.4%) and Auto (+1.0%) were the top gainers, while Media (-0.3%) and IT (-0.2%) were the top losers.
What's Up
| Top gainers | Today's change |
| Hero MotoCorp | 4,330 ▲ 191 (+4.6%) |
| Bajaj Auto | 7,295 ▲ 241 (+3.4%) |
| Reliance |
2,716 ▲ 65 (+2.4%) |
What's Down
| Top losers | Today's change |
| HUL |
2,536 ▼ 40 (-1.5%) |
| Dr Reddy | 5,698 ▼ 89 (-1.5%) |
| SBI Life | 1,430 ▼ 21 (-1.4%) |
Market Sentiment
| USD-INR | 83.03 ▼ 0.08 (-0.1%) |
| NIFTY MIDCAP 100 | 47,337 ▲ 230 (+0.4%) |
| NIFTY SMALLCAP 100 | 15,476 ▲ 89 (+0.5%) |
| India VIX | 83.01 ▼ 0.007 (-0.01%) |
Stock Buzz
⭐ TCS reports marginal profit rise in Q3
Tata Consultancy Services reported a 2% year-on-year (YoY) rise in net profit to ₹11,058 crore and a 4% YoY increase in its consolidated revenue to ₹60,583 crore for Q3 FY24. The company also approved a dividend of ₹27 per share with the record date of 19 January 2024. As of 31 December 2023, its order book stood at $8.1 billion. Meanwhile, TCS shares closed 0.3% higher today.
⭐ Infosys profit falls 7% YoY in Q3
India’s second-largest IT company reported a 7.3% year-on-year decline in net profit to ₹6,106 crore. However, its consolidated revenue for the quarter rose 1.3% YoY to ₹38,821 crore. The company also narrowed its revenue growth guidance for the full year to 1.5-2%. Shares of the company closed flat, up 0.03% today.
⭐ Allied Digital hits upper circuit on Ayodhya smart city order win
Shares of the leading global IT services provider, hit the 20% upper circuit today. This was after the company secured a new order for the Ayodhya smart city project. The company will serve as the master system integrator, integrating CCTV surveillance with the current ITMS control room. The project includes a three-month implementation phase and followed by a five-year operational and maintenance (O&M) phase.
⭐ Easy Trip Planners jumps 17% on foray into insurance sector
Shares of Easy Trip Planners, aka EaseMyTrip, closed 17% higher today, a day after the company announced the launch of its new subsidiary EaseMyTrip Insurance Broker Private Limited. This strategic move aims to strengthen EaseMyTrip's market position, tapping into a potential ₹7.9 trillion market and leveraging its existing 20 million user base.
IPO Corner
⭐ The Jyoti CNC Automation IPO received an overall subscription of 38.5 times on the last day of the bidding, with the retail segment being subscribed 26 times. The tentative listing date is 16 January 2024.
Learn with Upstox
What is a subsidiary?
A subsidiary is a company that is controlled by another, often larger, company known as the parent company. The parent company owns more than half of the subsidiary's voting stock, giving it control over the subsidiary's operations and strategic decisions. Subsidiaries operate independently but are under the parent company's authority.
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