SENSEX up 300 pts, NIFTY50 tests 22,900; Kaynes Technology tumbles 19% as firm trims guidance

At 09:44 AM, the S&P BSE SENSEX was trading at 75,672.66 levels, up 306.49 points, or 0.41%, while the NSE's NIFTY50 index was trading at 22,883.75, down 54.60 points, or 0.24%.

As many as 24 stocks on the NIFTY50 index were trading in the green and the remaining 26 in the red.

The top five gainers on the index were Shriram Finance, ICICI Bank, Infosys, Axis Bank, and Bajaj Finance.

The top five losers were Sun Pharma, Dr Reddy's, NTPC, Hindalco Industries, and Cipla.

Stocks in news

Kaynes Tech, as per news reports, posted a 30% growth in its revenue, but it was below what analysts had expected. Net profit increased by 47% from last year, but that was courtesy of a jump in the company's other income. At 14.2%, the company's margins were in line with the expectations of analysts.

The company reported a net loss of ₹38 crore for the third quarter that ended December 31, 2024. In the corresponding quarter of the previous fiscal, Prataap Snacks posted a net profit of ₹10.8 crore.

Broader Market

The BSE MidCap index was trading at 40,971.73 level, down 599.87 points, or 1.44% while the BSE SmallCap index was trading at 46,868, down 1,478.37 points, or 3.06%.