Get App
POST-MARKET REPORT
The Indian equity markets started the new calendar year on a positive note as the benchmark indices ended higher on January 1, with the Nifty closing near 23,750 amid buying seen across the sectors barring metal and realty names.
At close, the Sensex was up 368.40 points or 0.47 percent at 78,507.41, and the Nifty was up 98.10 points or 0.41 percent at 23,742.90.
Maruti Suzuki, M&M, Bajaj Finance, L&T, and Eicher Motors were among the top gainers on the Nifty, while losers included Dr Reddy’s Labs, Hindalco Industries, Adani Ports, ONGC, and Tata Steel.
Except for realty and metal, all other sectoral indices ended in the green with auto, power, and capital goods indices up 1 percent each.
BSE Midcap index was up 0.5 percent and the smallcap index rose 1 percent.
STOCKS TODAY
Mahindra & Mahindra: The automaker clocked an 18 percent jump in sport utility vehicle sales to dealers in December at 41,424 units due to strong demand. It reported sales of 35,174 units in the year-ago period. Mahindra, India’s second-biggest SUV maker by market share, has remained resilient amid a broader slowdown in car sales that pressed manufacturers and dealers into offering hefty discounts. The company’s shares climbed 2 percent following the announcement.
Maruti Suzuki: Shares rose 3 percent after the carmaker announced 30 percent rise in December car sales at 1,78,248 units. It reported sales of 1,37,551 units in the year-ago period. “In December 2024, Maruti Suzuki India Limited sold a total of 1,78,248 units. Total sales in the month include domestic sales of 1,32,523 units, sales to other OEM of 8,306 units, and the highest ever monthly exports of 37,419 units,” said the company in a stock exchange filing.
SJVN: Shares soared 6.2 percent after the company inked a Memorandum of Understanding (MoU) with the Bihar government for a project worth Rs 5,663 crore. As per the pact, SJVN will develop the 1,000 MW Hathidah Durgawati Pumped Storage Project (PSP). The project will feature a levelized tariff of Rs 9.39 per kWh, calculated at February 2024 price levels with a pumping energy rate of Rs 3 per kWh. The development of Pumped Storage Projects in Bihar is expected to generate direct and indirect employment for 5,000 people and attract an investment of around Rs 10,000 crore.
Power Mech Projects: Shares surged over 5.64 percent after the company won an order worth Rs 294 crore from Adani Power. The domestic order involves providing overhauling services, condition assessment, erection, testing, commissioning, and manpower support for the Performance Guarantee Test of the Steam Generator (SG), Steam Turbine Generator (STG), and their auxiliaries.
IREDA: Shares surged nearly 3 percent after the state-owned company logged 41 percent loan disbursement growth in the December quarter. The Agency (IREDA) witnessed significant growth in loan disbursements, increasing by 41 percent YoY to Rs 17,236 crore from Rs 12,220 crore a year ago. As per provisional figures, IREDA sanctioned loans worth Rs 31,087 crore in the third quarter, marking an extraordinary 129 percent Year-on-Year (YoY)