Stock Market LIVE: Sensex Up By 500 Pts; Nifty Around 23,300

The Sensex closed at 77,021.46, up by 402.13 points (+0.52%), with Kotak Bank, Bajaj Finance, NTPC, SBI, and Power Grid emerging as the top gainers. On the losing end were Adani Ports, Zomato, M&M, Maruti, and Tata Motors. Meanwhile, the Nifty ended at 23,335.85, adding 132.65 points (+0.57%). Kotak Bank, Wipro, Bajaj Finance, Bajaj Finserv, and NTPC led the gains, while SBI Life, Shriram Finance, Trent, Adani Ports, and HDFC Life were among the laggards. Sectorally, Nifty Auto and FMCG saw declines, while Banking, Financial Services, IT, Media, Metal, Pharma, PSU Bank, Realty, and Oil & Gas exhibited a strong recovery.

 Strides Pharma Science Limited today announced that its step-down wholly owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, has received approval for Acetaminophen and Ibuprofen Tablets, 125 mg /250 mg (OTC), from the United States Food & Drug Administration (USFDA). The product is bioequivalent to the reference listed drug (RLD), Advil Dual Action with Acetaminophen, 125 mg /250 mg (OTC), of Haleon US Holdings LLC

Board of Directors of IDBI Bank Ltd., at its meeting held on Monday, January 20, 2025, approved the proposal for sale of IDBI Bank's entire holding of 8,54,000 having face value of Rs. 100/- per share constituting 21.14% shareholding in Pondicherry Industrial Promotion Development and Investment Corporation Ltd. (PIPDIC), an associate company of the Bank.

Total Business grew by 8.31 % to ₹ 668686 crore from ₹ 617368 crore.
Total Deposits up by 5.34 % to ₹ 397907 crore from ₹ 377722 crore.
CASA Deposits have increased by ₹ 10565 crore to ₹ 195107 crore, reflecting
Y-o-Y growth of 5.72% & having a share of 49.18% of total Deposits.
Gross Advance increased by 12.99 % to ₹ 270779 crore from ₹ 239646 crore.
Credit to Deposit (CD) Ratio improved to 68.25 % registering an improvement
of 465 bps, from 31st December 2023.

Acquisition of 1,34,80,000 equity shares of Mangalore SEZ Limited (MSEZ) from IL&FS at revised price. After this acquisition, equity stake of the Company shall increase from 0.96% to 27.92% in MSEZ as informed in an earlier letter dated 22/03/2024. S

TVS Motor Company - a leading global automaker that operates in the two and three-wheeler segments, today announced the launch of its connected passenger electric three-wheeler, TVS King EV MAX. The vehicle has best-in-class features including bluetooth connectivity through TVS SmartXonnect™. The TVS King EV MAX combines innovative technology with eco-friendly solutions, catering to the growing demand for sustainable urban mobility.

LT Foods announced thatthe Board of Directors of the Company will be held on Monday, January 27, 2025 to, inter-alia, consider and approve the Un-Audited Financial Results (Standalone and Consolidated) for the quarter and nine months ended December 31, 2024, and to consider declaration of 4 th Interim Dividend for the financial year 2024-25,

Board of Directors of Bank of Baroda will be held on Thursday, 30th January 2025 at Bank’s Corporate Office, BKC, Mumbai inter-alia: To consider & approve the Un-audited (Reviewed) Standalone & Consolidated Financial Results of the Bank together with relevant segment reporting, for the quarter ended 31st December 2024.

Time Medical International Ventures (India) Private Limited (Wholly Owned Subsidiary of Fischer Medical Ventures Limited), a Make in India company is proud to announce the launch of the Sikkim MRI Public-Private Partnership (PPP) Project, a pivotal initiative aimed at enhancing healthcare infrastructure and diagnostic capabilities in the region. This project is specifically focused on Tuberculosis (TB) Diagnostic Screening and implemented through the PPP model under the Ayushman Bharat and National Health Mission (NHM) schemes.

Raising of funds by issuance of upto 50,00,000 fully paid-up equity shares of the Company having face value of Rs. 4/- each, for cash, at an issue price of Rs. 990/- per share (including premium of Rs. 986/- per share), for a consideration of upto Rs. 495 Crores, on preferential basis

Go Digit General Insurance Limited (Digit Insurance), one of India’s leading new-age insurance companies, announced it has been recognized as a “Top Employer in India” for the year 2024 and 2025 by the Top Employers Institute. Digit Insurance is the sole Indian general insurance company certified as a Top Employer in 2024 and 2025, highlighting its commitment to fostering a world-class work environment and a culture of continuous learning and development.

Nifty Auto falls by 0.40%, leading the loss are Balkrishna Industries Limited, Bosch, M&M, Samvardhana Motherson International, Apollo Tyres, MRF,Maruti Suzuki, TAMO and Eicher Motors

Board of Directors of the Company is scheduled to be held on Saturday, 25th January, 2025, inter-alia, to consider and approve unaudited (Standalone & Consolidated) Financial Results for the quarter and nine months ended 31.12.2024.

Advait Energy Transitions Limited (Formerly known as Advait Infratech Limited) (the “Company”) has received Letter of Award (LOA) from Solar Energy Corporation of India Limited for Product Linked Incentive (PLI) for Setting up Manufacturing capacities of 200 MW of Alkaline Electrolysers in India under Strategic Interventions for Green Hydrogen Transition (SIGHT) Scheme

the Board of Directors of Adani Wilmar Limited will be held on Monday, 27th January, 2025, inter alia, to consider and approve the Unaudited Financial Results (Standalone and Consolidated) for the quarter and nine months ended on 31st December, 2024.

Go First: NCLT Orders Liquidation 

WAAREERTL has received a Letter of Intent (LOI) for the execution of Engineering, Procurement and Construction (EPC) works for Ground mount solar power project of 105 MWp (DC) capacity on turnkey basis

LIC Housing Finance informed the exchange filing that the Meeting of the Board of Directors of the Company to be held on Friday, 31st January, 2025 to consider, approve and take on record, the Un-Audited Financial Results (Standalone & Consolidated) of the Company for the Third quarter and Nine months ended 31st December, 2024.

Bharti Airtel, one of India’s largest telecom services providers and Bajaj Finance, the country’s largest private-sector Non-Banking Financial Company (NBFC), today announced a strategic partnership to create one of India’s largest digital platforms for financial services and transform last mile delivery. The one-of-a-kind partnership brings together Airtel’s highly engaged customer base of 370 million, 12 lakh+ strong distribution network, and Bajaj Finance’s diversified suite of 27 product lines, and distribution heft of 5,000+ branches and 70,000 field agents.

NTPC informed on exchange filing that the basis of information received from NTPC Green Energy Limited on 19.01.2025, Second part capacity of 25 MW out of 200 MW Gujarat Solar PV Project in Sadla, Gujarat of NTPC Renewable Energy Limited (NTPC REL), a stepdown subsidiary of NTPC Limited through its subsidiary NTPC Green Energy Limited, is declared on Commercial Operation w.e.f. 17.01.2025

EKI Energy Services Ltd. (EKI), a leading climate advisory and carbon offsetting firm, has received approval from the Science-Based Targets initiative (SBTi) for its ambitious emission reduction targets aimed at aligning with the 1.5°C climate scenario. This validation from SBTi accentuates EKI’s commitment to science-based action and positions it as a regional leader in setting standards for corporate sustainability and climate responsibility.

Revenue jumps to ₹1,828 Cr on Growth in Payments and Financial Services; EBITDA Before ESOP and PAT improved by ₹145 Cr and ₹208 Cr QoQ

Gainers - Kotak Bank, Wipro, NTPC, SBI and Power Grid
Losers - Shriram Finance, SBI Life, Trent, Eicher Motor and HDFC Bank 

In the sectoral indices, the Nifty Auto index is declining the most with more than 1%, followed by Healthcare, FMCG, IT, Metal and Pharma. During the Gaining streak, we have Bank, Financial Services, Media and  PSU Bank

Gainers - Kotak Bank, NTPC, SBI, Titan and Reliance 
Losers - L&T, ITC, Tata Motors, M&M and Axis Bank 

Indian Indices Open Higher as Sensex Gains 200 Points, Nifty Reaches 23,300 

Pre open indicates that the Indian market will open marginally higher 

As per market tracker website, Laxmi Dental IPO last GMP is ₹145 today. With the price band of 428.00, Laxmi Dental IPO's estimated listing price is ₹573 (cap price + today's GMP).The expected percentage gain/loss per share is 33.88%.

On Frida, Reliance Industries Limited (RIL) saw its share price surge by more than 4% on January 17, following the announcement of its Q3 FY25 results on January 16.On the BSE , the stock opened at Rs 1,325.10, reaching the same as its intraday high. This marked a sharp rise from the previous close of Rs 1,268.70.
 

ICICI Lombard General Insurance Company Limited revealed its most recent October-December quarter fiscal 2024–25 (Q3FY25) on Friday. ICICI Lombard General Insurance reported a remarkable 67.9 per cent  increase in net profit for the October-December quarter of FY25, reaching  Rs 724.4 crore compared to  Rs 431.5 crore in the same period last year. This growth was primarily driven by higher capital gains.

Tech Mahindra recorded a net profit of ₹983.2 crore at consolidated level for the quarter ended December 2024, a 92.6% rise from ₹510.4 crore in the year previous quarter. Tech Mahindra's December Quarter (Q3FY25) revenue was ₹13285.6 crore. Revenues grew by 1.01% from ₹13001.3 Crore reported in Q3FY24 (December 2023).

Kotak Mahindra Bank has released its quarter 3 earnings. In the October to December 2024 quarter, Kotak Mahindra Bank's Profit After Tax (PAT) was  Rs 4,701.02 crore, up from  Rs 4,264.78 crore during the same period in the previous fiscal year.

However, in the second quarter of the current fiscal year, its PAT was  Rs 5,044.05 crore. Thus, the private lender recorded a 6.80 per cent  QoQ decline in PAT but reported a YoY increase of almost 10.25 per cent .

JioSphere web browser users have begun noticing that JioCoin, a blockchain-based crypto token, has been integrated into their platforms. Built on Ethereum Layer 2 and listed on Polygon, JioCoin is currently accessible to users on both Android and iOS devices, though there has been no official announcement from Reliance yet.

The GIFT Nifty begins positively, showing a gain of 50.0 points, up by 0.22%.

Asia-Pacific markets saw mixed movement on Monday, with Japan’s Nikkei and Topix posting strong gains, while Australia’s ASX 200 edged higher and South Korea’s Kospi remained flat. Hong Kong’s Hang Seng and China’s CSI 300 also rose after the People’s Bank of China kept key lending rates unchanged. The yuan strengthened slightly against the dollar. Key economic updates from Malaysia and Hong Kong are expected later today, while central banks in the region, including the Bank of Japan and Singapore’s MAS, prepare for policy meetings this week.

Stocks rallied on Friday, marking their first weekly gain of the new year. Major indexes saw notable gains, with the Dow Jones Industrial Average, S&P 500, and Nasdaq all ending higher.

Technology stocks led the charge, with significant gains in companies like Tesla, Nvidia, and Alphabet. The tech sector's upward momentum helped propel the overall market.

For the week, both the Dow and S&P 500 experienced their largest weekly gains in several months, while the Nasdaq posted its best performance in weeks. These gains followed reports indicating a decrease in inflationary pressures, with key economic indicators showing slower-than-expected growth. Additionally, the 10-year Treasury yield pulled back, spurring optimism that multiple interest rate cuts may be on the horizon.

Strong earnings reports from major banks further bolstered the market. Stocks like Goldman Sachs, Citigroup, and JPMorgan Chase surged, helping to recover from December's sluggish performance and pushing into a positive start for 2025.

Indian equity markets closed in the red on January 17, with the benchmark Nifty settling at 23,203.20, down 108.60 points or 0.47 per cent. The Sensex also dropped 423.49 points or 0.55 per cent, closing at 76,619.33.

Market breadth remained mixed, with 1,975 stocks advancing, 1,797 declining, and 116 remaining unchanged.

Key Movers
Major losers on the Nifty included Infosys, Axis Bank, Shriram Finance, Kotak Mahindra Bank, and Wipro. On the other hand, BPCL, Reliance Industries, Hindalco Industries, and Nestle India emerged as top gainers.

Sectoral Performance
The IT and Bank indices each fell by 2 percent, weighing on the broader markets. However, oil & gas, power, FMCG, PSU, capital goods, realty, and metal indices offered some support, each registering a 1 percent gain.

Meanwhile, the BSE Midcap and Smallcap indices ended the session flat.