Stock market today, buzzing stocks: The domestic equity market was trading 0.5% higher in the noon deals on Tuesday, October 8.
At 12:22 pm, the S&P BSE SENSEX was trading at 81,420.65 levels, up 370.65 points, or 0.46%. The NSE NIFTY50 index was ruling at 24,921.85, up 126 points, or 0.51%.
As regards assembly election results, the latest trends showed that the BJP was leading in 49 of the 90 assembly seats in Haryana, while the Congress was ahead in 34.
In Jammu and Kashmir, the available leads showed that the alliance of the Congress and the National Conference (NC) was leading in 52 seats, more than the majority mark (46) in the 90-member assembly.
Here is a list of buzzing stocks for the day.
SpiceJet: Shares of
SpiceJet were trading nearly 7.5% higher at ₹61.84 apiece on the BSE after the airline announced plans to induct 10 new aircraft into its fleet by the end of November.
NMDC: The stock was trading nearly 5% lower at ₹217.90 apiece on the BSE. Other metal stocks too slipped in the trade after, as per reports, China’s top economic planner—the National Development and Reform Commission—discussed a package of policies aimed at boosting economic growth that had little to offer.
While officials said they are confident in reaching China’s economic targets this year and promised further support, they held back in unleashing more stimulus in a disappointment to investors.
Tata Steel stock was down over 3% at ₹159.10 on the BSE.
Tata Motors: The stock was down nearly 2% at ₹910.40 on the BSE after the automaker-owned Jaguar Land Rover on Monday reported a 3% decline in retail sales at 1,03,108 units in the second quarter of the current fiscal as compared to the year-ago period.
Retail sales for the first six months of the financial year were at 2,14,288 units, up 3% year-on-year, Tata Motors said in a statement.
Ola Electric: After declining over 6% in the morning trade on Tuesday, October 8, shares of
Ola Electric Mobility saw a sharp rebound and were trading nearly 3% higher at ₹93.33 apiece on the BSE in the late morning deals.
Amid growing customer complaints against the EV maker and poor conditions at its service centres across the country, the Central Consumer Protection Authority (CCPA) has issued a show-cause notice to Bhavish Aggarwal-run EV company, asking it to respond to the notice within 15 days of receipt.
Sobha: Shares were flat at ₹1,738 apiece on the BSE after the company said its total sales declined 31.63% to ₹1,178.5 crore in Q2 FY25 from ₹1,723.8 crore posted in Q2 FY24. However, on a sequential basis, total sales fell 37.1% from ₹1,873.7 crore recorded in Q1 FY25. Average price realisation jumped 23.98% YoY to ₹12,674 per square feet in Q2 FY25. The realtor's share in sales value stood at ₹9,82.8 crore in Q2 FY25, down 22.95% YoY and 27.61% QoQ.
Reliance Power: Reliance Power shares were frozen at 5% lower circuit again on Tuesday. Equipped with ₹17,600 crore fundraising and a zero-debt status, Anil Ambani's Reliance Group companies—Reliance Infrastructure Ltd and Reliance Power Ltd.—are poised to execute their growth strategies, according to officials.
HEG: Shares of HEG Ltd were trading over 4% higher at ₹2,320.95 apiece on the BSE after the company on Monday said it has acquired an 8.23% stake in New York Exchange-listed GrafTech International for ₹248.62 crore.
Godrej Consumer Products: Shares were down over 1% at ₹1,316.20 on the BSE after the company, in its Q2 update, said it is largely on track to achieve the standalone and Indonesia UVG targets. "However, our consolidated EBITDA growth will be lower due to operating conditions in India being tough on cost and margin driven by inflation in palm and other competitive pressures. Palm input costs have been rising since March and have risen in high teens as of date," it said.
UVG stands for underlying volume growth.
Tata Power, JSW Energy: Tata Power shares were up over 3% at ₹454.85 while those of JSW Energy were trading over 3.5% at ₹696.85 apiece on the BSE amid reports Nomura has initiated coverage on the power sector with optimistic recommendations for both stocks. For Tata Power, Nomura projects a robust 16% compound annual growth rate (CAGR) in EBITDA over FY24-27.
JSW Energy is expected to deliver a 38% EBITDA CAGR over FY24-27.
Nykaa: Shares of Nykaa owner FSN E-Commerce Ventures were down over 0.5% at ₹192.90 apiece on the BSE. On Monday, Nykaa said its consolidated net revenue grew in “mid-twenties” in the second quarter of the ongoing financial year 2024-25 (FY25). The company added that the beauty division saw strong performance, with both net revenue and net sales value (NSV) rising in the mid-20% range. It added that the growth in gross merchandise value (GMV) was even higher.
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