Stock Markets LIVE updates, today, August 12, 2024:Ola Electric share price was locked in the 20-per cent upper circuit, crossing Rs 100-mark
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Stock Market LIVE updates today, Monday, August 12: After starting on the backfoot on Monday amid Hindenburg-Sebi row, Indian benchmarks — BSE Sensex and NSE Nifty — turned positive in the intraday trade.
The BSE Sensex, which fell over 400 points earlier today, was quoting at 80,050 level, up around 350 points. The Nifty50, on the other hand, was testing 24,450.
The recovery was led by JSW Steel, HDFC Bank, Axis Bank, Tata Motors, Kotak Bank, Infosys, and Bharti Airtel. These stocks were up in the range of 0.4 per cent to 1.7 per cent.
In the broader markets, the BSE MidCap edged 0.28 per cent lower, while the BSE SmallCap added 0.34 per cent higher.
Among sectors, the Nifty Metal index gained 0.5 per cent, and the Nifty Bank 0.45 per cent. The Nifty FMCg index, on the flipside, fell 0.5 per cent.
Adani-Hindenburg-Sebi case
Among individual shares, Adani Enterprises was declined around 4 per cent, while Adani Ports, Adani Power, Adani Green Energy, and Adani Total Gas shed up to 17 per cent intraday. READ MORE
That apart, shares of IIFL Group companies – IIFL Securities, IIFL Finance, and 360 One WAM — also dropped up to 3.5 per cent after Hindenburg alleged that an Adani director set up IPE-Plus Fund 1 through the former IIFL Wealth Management (now 360-One WAM) to invest in Indian markets and artificially inflate Adani group stock prices.
12:48 PM
Mid-market update: Sensex, Nifty pare early losses amid Hindenburg-Sebi row
During early trade, shares of the Adani Group fell sharply following the Hindenburg Research allegations. Adani Energy Solutions shares were the top laggards with a fall of 17 per cent, followed by Adani Total Gas at 13 percent, New Delhi Television (NDTV) at 11 per cent, and Adani Power at 11 per cent to Rs 619. Other shares like Adani Ports and Special Economic Zone, Adani Wilmar, ACC, and Ambuja Cements declined between 2 per cent – 7 per cent. However, the company’s shares have shown a strong recovery, with declines now in the range of 1 – 5 per cent. READ MORE
12:41 PM
June quarter results :: Cera Sanitaryware erases gains after weak Q1
>> Net profit falls around 17% YoY to Rs 47 crore
>> Revenue slips 6.5% YoY to Rs 400.7 crore
>> Ebitda declines 18% YoY to Rs 58 crore
>> Margin at 14.4% vs 16.4% YoY
12:30 PM
Brokerages raise target for Inox Wind, expect strong execution; stock up 9%
Inox Wind specialises in the manufacture and sale of wind turbine generators (WTGs). It also offers comprehensive services, including erection, procurement, and commissioning (EPC), operations and maintenance (O&M), as well as wind farm development and common infrastructure facilities for WTGs. READ MORE
12:15 PM
Suzlon Energy extends rally, zooms 50% in 1 month on strong Q1 results
Renom is the largest Multi-Brand Operations and Maintenance service (MBOMS) provider in the country with assets of 1,782 MW in Wind, 148 MW in Solar, and 572 MW in BOP under maintenance across customer segments READ MORE
11:58 AM
Analysts wary of Zydus Life’s US sales post FY25, valuations; stock down 5%
“Zydus Life has continued to report a positive surprise with its Q1FY25 revenue/Ebitda/PAT beating consensus by 6 per cent, 14 per cent and 10 per cent. Reported Ebitda margin reached a historical high of 33.6 per cent,” analysts at Nuvama said. READ MORE
11:46 AM
Balkrishna Industries falls nearly 6% post Q1 results
11:32 AM
June quarter results :: Morepen Labs reports net profit of Rs 35 cr vs Rs 15.9 cr YoY
>> Revenue up 4.5% at Rs 385.6 cr vs Rs 369 cr YoYE
>> Ebitda up 97% at Rs 48.6 cr vs Rs 24.7 cr YoY
>> Margin at 12.6% vs 6.7% YoY
11:22 AM
Stock Alert :: Ola crosses Rs100-mark, hits 20% upper circuit for 2nd day
11:09 AM
ALERT :: NBCC wins orders worth Rs 720 crore
>> Order 1: Construction of a new Building by Demolishing the existing building of Hyderabad Chapter of ICSI at Anand Nagar Colony, Khairatabad, Hyderabad (Rs 9.97 crore)
>> Development of two Land Parcel in Jhansi on Self-sustainable mode (Rs 710 crore)
10:54 AM
Stock Market Update :: SmallCap index turns positive, up over 0.3%
10:49 AM
June quarter results :: Voltas rallies 9%, hits record high on strong Q1
Voltas’s consolidated profit after tax (PAT) jumped 160 per cent year-on-year (Y-o-Y) to Rs 335 crore, on the back of healthy operational performance. The global air conditioning and engineering services provider of the Tata Group had posted net profit of Rs 129 crore in Q1FY24. READ MORE
10:34 AM
Ola Electric shares soar for 2nd day, rises 41% over issue price; Details
Ola Electric shares rally: Shares of Bhavish Aggarwal-led Ola Electric Mobility have been marching northward despite the negative market sentiment, on the bourses on Monday.
The company’s shares climbed 17.56 per cent to Rs 107.20 during early trade on Monday. Ola Electric Mobility shares have been trading higher since their listing on Friday, August 9, 2024, and have climbed 41.07 per cent so far. Read more
10:20 AM
Adani group stocks dip upto 17% on new allegations by Hindenburg Research
Adani Energy Solutions (down 17 per cent to Rs 915.70), Adani Total Gas (13 per cent to Rs 753), New Delhi Television (NDTV) (11 per cent to Rs 186.15), and Adani Power (11 per cent to Rs 619) fell more than 10 per cent each intraday, while Adani Ports and Special Economic Zone, Adani Enterprises, Adani Wilmar, ACC, and Ambuja Cements declined between 2 per cent and 7 per cent. READ MORE
10:11 AM
Market check: Sensex slides 450 pts
9:55 AM
Hindenburg vs Sebi chief: How to trade Adani stocks now? Levels to track
Hindenburg v/s Adani Group:After almost 17 months, after the US-based short seller Hindenburg Research had accused the Adani group of ‘fraud’ and ‘brazen’ stock price manipulation; the former has now alleged Sebi chairperson of favouritism towards the Group amid conflict of interest.
In a new report on Saturday August 10, Hindenburg questioned the delay in the Adani probe and Sebi’s objectivity in the matter, alleging Sebi chairperson Madhabi Puri Buch and her husband, Dhaval, were conflicted parties because they had invested in a fund that was allegedly used to inflate stock prices of the Adani group. Read more
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First Published: Aug 12 2024 | 7:48 AM IST
