Stock Market LIVE: Sensex Up By 600 pts And Nifty Above 23,000

The Indian market closed higher, with sensex up by 600 pts and nifty above 23,000 

the Board of Directors, in the said meeting, approved to invest about Rs. 24.00 crores in a new hybrid power project with M/s Torrent Power Limited. The said hybrid power project will be set up, owned and operated by Torrent Power Ltd./ wholly owned SPV (TPL or Power Producer) and / or its associates, located in Gujarat. The said project is likely to be commissioned by September 2025

Declared Interim Dividend of Rs. 1/- (Rupee One only) per Equity share i.e. 10.00% of the face value of Rs. 10/-;

CarTrade Tech Group (hereinafter referred to as the “Company”), one of India’s largest online classifieds and auto auction platforms, announced its unaudited financial results for the quarter ended December 31st , 2024. The company reported a strong growth with revenue surging by 27 % to Rs. 193 crores, EBITDA grew by an impressive 98% and profits rose sharply to ₹46 crores in Q3FY25 as compared to Q3FY24.The Consumer Group led the growth, achieving a 38% revenue increase and a remarkable 172% PAT growth. The Remarketing Business also showed impressive results, with 28% revenue growth and a 178% increase in PAT during the same period. OLX India too continued its robust performance, with profits surging 80% in Q3FY25 compared to Q2FY25

"The forthcoming Union Budget presents a crucial opportunity to bolster private sector participation by integrating EdTech into the online and distance learning ecosystem within higher education, paving the way for transformative policies.

A forward-looking approach could allocate funding for emerging disciplines such as Artificial Intelligence (AI), Machine Learning (ML) and other cutting-edge fields. Subsidising course fees for both freshers and professionals would encourage greater participation in lifelong learning and upskilling. Such initiatives, when offered through premiere institutions like IITs and IIMs, would foster an inclusive and competitive workforce. Aligning these measures with national missions like ‘Make in India’ and ‘Skill India’ would reinforce India’s global leadership in innovation and manufacturing. Investments in upskilling across technological and non-technological domains are key to advancing the vision of Viksit Bharat.

Reducing GST on EdTech services to 5% or eliminating it would make education more affordable, broadening access to upskilling programmes and engaging diverse learners.

Recognising and accrediting short-term, stackable micro-credential programmes from EdTech providers for academic credits would bridge skill gaps and boost employability. Similarly, subsidising professional development courses for faculty would raise teaching standards, aligning institutions with global benchmarks. By implementing these measures, the Union Budget can cultivate a skilled, future-ready workforce, driving India’s sustained growth and global leadership," Anish Srikrishna, CEO, TimesPro

"As we approach the upcoming budget announcement, we are optimistic about its potential to unlock new opportunities for international student mobility. India’s study abroad sector is witnessing significant growth, and we anticipate initiatives that foster greater collaboration between Indian and international universities. The development of GIFT City, for example, has already shown promise in creating new avenues for academic exchange and research. This initiative and a budget that prioritizes global education could significantly enhance cross-cultural learning and bolster India's leadership in STEM fields. A forward-looking budget will empower India’s vibrant youth, positioning the country at the forefront of international academic collaboration.

Furthermore, we expect the government to implement measures that make international education more accessible and affordable. Targeted scholarships for students from Tier 2 and Tier 3 cities, tax benefits for families supporting overseas education, and streamlined visa processes are crucial steps in enabling more students to pursue their dreams of studying abroad. By addressing these needs, the budget will support individual aspirations and contribute to India’s long-term economic and intellectual growth on the global stage," Abhijit Zaveri, Founder and Director, Career Mosaic

Re Sustainability and Recycling Private Limited (ReSRL), a Re Sustainability Company (ReSL), and Aarti Circularity Limited (ACL), a wholly owned subsidiary of Aarti Industries Limited (AIL) a prominent player in speciality chemicals, have joined hands to establish a transformative first of its kind in India Joint Venture Company (JV Co) for driving the development of Plastic Materials Recycling Facilities (PMRFs) across India, aiming to revolutionise plastic resource recovery and sustainable resource management practices.

the Company has received two orders from the Deputy Commissioner (ST) STU-1; Punjagutta Division, Hyderabad passed under relevant provisions of the Central Goods and Services Tax Act, 2017 and TGST Act 2017 for recovery of Compensation Cess refunded during May 2018 and June 2018 and demanding the payment of tax along with interest and penalty.

Total revenue stood at INR 401 Cr up 9.9% YoY • EBITDA stood at INR 359 Cr with EBITDA Margin of 89.6% • PAT stood at INR 112 Cr with PAT Margin of 28.0% • Cash PAT stood at INR 189 Cr, growth of 52.5% YoY • Net debt to net worth stood at 1.6x as of Q3 FY25 primarily on account of repayment of debt from IPO proceeds.

The wholly owned subsidiary of the Company has been incorporated in the name of “SUNVIBE ENERGY PRIVATE LIMITED”

Netweb Technologies India Limited (Netweb), India’s leading Indian origin, owned and controlled OEM in the space of High-End Computing Solutions (HCS). Netweb offers a full stack of products and solutions to various end user industries such as IT, ITES, BFSI, National Data Centers and Govt. entities such as Defence, Education and R&D Institutions.

VA TECH WABAG , a leading pure-play water technology Multinational Group, continues to expand its presence in the Middle East region and strengthen its leadership in the O&M business, securing an order worth ~USD 14 Million (~INR 121 Crores) from BAPCO Refining B.S.C (BAPCO) towards operation (O&M) of Industrial Wastewater Treatment Plant (IWTP) located in the Kingdom of Bahrain, for a period of 7 years.

L&T Technology Services Limited a global leader in engineering and technology services, announced that it has been awarded a multiyear, $80 million deal with a US-based manufacturer of industrial products and solutions. This strategic partnership will accelerate the client’s digital transformation through the integration of advanced technologies, including connected products and the digital thread, paving the way for greater innovation at scale.

Sealmatic India Limited Bags Prestigious Order To Supply Super Critical Mechanical Seals For Various Power Projects

KPI Green Energy Limited (‘Company’) has signed a Memorandum of Understanding (MoU) with the Government of Odisha for the establishment of Renewable Energy Parks in the district of Ganjam, Odisha.

ITC Hotels, the demerged arm of ITC Limited, made its debut on stock exchanges today, January 29, 2025.

Shares of the company are listed at Rs 180 on the National Stock Exchange (NSE) and Rs 188 on the Bombay Stock Exchange (BSE). 

Declaration of 3rd (Third) interim dividend for the Financial Year 2024-25 at the rate of ₹ 1.90 per share (19.00 % of paid-up share capital) of the Company. Further, the record date set for the purpose of payment of 3rd (third) interim dividend for Financial Year 2024-25 is Saturday, February 01, 2025

Indian stock market opened at a decent note today, with Sensex up by 200 pts and nifty above 23,000
 

GIFT Nifty on the NSE IX signaling that Dalal Street was headed for positive start on Wednesday.
 

Key U.S. indexes bounced back after losses triggered by concerns over competition from Chinese AI startup DeepSeek. The S&P 500 climbed, driven by gains in technology stocks, while the Nasdaq surged after a sharp decline the previous day. The Dow Jones Industrial Average also edged higher.

Nvidia led the rebound, closing nearly 9% higher after suffering a record-breaking single-day loss in market value. Other tech giants, including Broadcom and Oracle, also recovered, posting solid gains following steep declines earlier in the week.

Japan's Nikkei 225 and Topix indices rebounded today following previous losses, buoyed by positive sentiment in global markets. The Bank of Japan released minutes from its December meeting, discussing neutral interest rates and monetary policy strategies amidst ongoing inflation concerns. Last week, the BOJ raised rates by 25 basis points to 0.5%, marking its highest level since 2008.

Meanwhile, Australia's S&P/ASX 200 also saw gains, recovering from recent declines. Economic data from the Australian Bureau of Statistics showed a 0.2% increase in December quarter inflation, slightly below economists' expectations of 2.5% annually.

Nifty falls below 23,000, as the Sensex pares gains, up more than 600 points. On the Nifty, Sun Pharma, Britannia Industries, Hindalco, Grasim Industries, and Bharat Electronics were among the top losers, while Axis Bank, HDFC Bank, Bajaj Finserv, and Shriram Finance were among the top winners.