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POST-MARKET REPORT
Indian benchmark indices again failed to hold the higher (intraday) levels and ended with marginal gains in the rangebound session on October 10 with Nifty closing in green but below 25,000, led by gains in metal and banking stocks.
At close, the Sensex was up 144.31 points or 0.18 percent at 81,611.41, and the Nifty was up 16.50 points or 0.07 percent at 24,998.50.
BSE Sensex and Nifty 50 indices erased 391 points and 135 points from their day’s high, respectively.
Top Nifty gainers were Kotak Mahindra Bank, HDFC Bank, Bharat Electronics, Maruti Suzuki and Power Grid Corp, while losers were Cipla, Trent, Tech Mahindra, Sun Pharma and Hero MotoCorp.
On the sectoral front, the IT index was down 1 percent, the pharma index was down 2 percent and the realty index shed 0.4 percent, while the bank index was up 1 percent, the power index was up 0.7 percent and the metals index added 0.3 percent.
The BSE midcap index was down 0.3 percent, while smallcap index was up 0.4 percent.
STOCKS TODAY
PNC Infratech: surged more than 3 percent after the infrastructure company was declared the lowest bidder by the City & Industrial Development Corporation of Maharashtra Ltd (CIDCO) for a Rs 2,091 crore infrastructure project near the upcoming Navi Mumbai Airport. PNC Infratech announced in a regulatory filing that the project involves the integrated infrastructure development of roads that are 20 meters wide and above, along with the construction of various structures such as flyovers, minor bridges, and allied electrical works, including street lighting, under the NAINA project.
Star Health & Allied Insurance Company: Shares dropped over 2 percent, a day after the company announced that it had fallen victim to a targeted cyberattack which resulted in the data breach of over 3.1 crore customers. Meanwhile, the hacker, identified as xenZen, who put the data up for sale on his website claimed that Star Health’s chief information security officer, Amarjeet Khanuja, sold the data and later attempted to renegotiate the deal, demanding more money for backdoor access on behalf of senior management.
Rain Industries: Shares soared over 6 percent after its subsidiary Rain Carbon, partnered with Canada’s Northern Graphite and inked an agreement with Northern Graphite Corporation to jointly develop and commercialize advanced battery anode material (BAM) used in lithium-ion batteries for electric vehicles. In these batteries, the anode, or negative electrode, is typically composed of graphite coated on copper foil, making it a crucial component in the battery’s life cycle.
VA Tech Wabag: Shares rose nearly 5 percent after it secured significant repeat orders from Reliance Industries Ltd (RIL) for water treatment systems at RIL’s Dahej and Nagothane facilities. With a longstanding relationship spanning nearly three decades, Wabag’s technical expertise and competitive bid secured this large order, valued between Rs 300 to Rs 500 crores.
Rashtriya Chemicals and Fertilisers: Share price rose over 7 percent after the company awarded a contract to L&T for setting up of 1200 MTPD complex. The company at its meeting held on October 9, 2024, has accorded its approval for the placement of a purchase order on L&T worth Rs 1,000.27 crore, which is to be completed in 27 months. fertilizer plant on LSTK Basis at RCF, ThaI.