Stock Market LIVE: Sensex Down By 700 Pts, Nifty Below 23,200

“This year’s budget presents a critical opportunity to drive a significant expansion in renewable energy (RE) capacity as we continue pursuing the 500 GW target by 2030. With an additional 300 GW of renewables to be added over the next five years, the sector requires reforms that are not only future-oriented but also address the current challenges faced by the industry.
The Ministry of New and Renewable Energy’s (MNRE) recently introduced Approved List of Models and Manufacturers (ALMM-II) framework, specifically designed for solar PV cells, is expected to take effect on June 1, 2026. However, with limited in-house cell manufacturing capacity and an ambitious annual target of approximately 35 GW, the demand-supply gap could lead to higher pricing for domestic cells and an increase in overall project costs.
Similarly, the proposed policy changes under the Draft TBCB guidelines to reduce the Power Purchase Agreement (PPA) duration from 25 to 15 years for grid-connected renewable energy projects and Energy Storage Systems (ESS) require careful consideration. These changes could directly impact project financing. Developers might hesitate to enter into new PPAs during the latter 10 years of a project’s effective operation. While shorter PPAs may offer greater flexibility, it is crucial to strike a balance with the financing stability needed by investors to ensure continued sector growth and attract investment," Mr. Anmol Jaggi, Chairman & Managing Director, Gensol Engineering Limited 

DEE Development Engineers Limited Partly Commissions ₹250 Crore State-of-the-Art Manufacturing Facility in Gujarat With an aim of targeting a three-fold rise in total revenue in the next three to five years, DEE Development Engineers Limited, a major player in process piping solutions, today announced the commission of 2nd phase of its new, cutting-edge manufacturing plant in Anjar, Gujarat, through which it has enhanced the capacity by 9,000 MT per annum and making the operational capacity to 12,000 MT per annum. This facility shall primarily cater to the jobs of oil and gas piping sector.

Tata Elxsi, a global leader in design and technology services, has joined forces with Minespider, a blockchain-powered traceability solutions provider, to launch MOBIUS+, an advanced battery lifecycle management platform. Designed to address the growing need for sustainability, compliance, and performance optimization in the battery industry, MOBIUS+ aims to revolutionize the way batteries are managed from production to recycling

Wholly owned Subsidiary Company Chartered Comcare IFSC Limited of Chartered Logistics Limited has received in principal approval from IFSCA (International Financial Services Centres Authority). Chartered Comcare IFSC Limited can commence the business.

R Systems International Limited (a Blackstone portfolio Company), a global leader in digital product engineering, today announced that it has been named a Major Contender in Everest Group’s Healthcare Provider Digital Services PEAK Matrix® Assessment 2024

Jio BlackRock Investment Advisers Private Limited, a Joint Venture company of the Company has today at 10.42 a.m. has informed that it has incorporated a wholly owned subsidiary named ‘Jio BlackRock Broking Private Limited’ on January 20, 2025 to carry on, inter alia, the business of broking subject to regulatory approvals.

Kwality Pharmaceuticals Limited has successfully obtained SFDA GMP Approval for the 2 audited units. This certification will open new markets for the Kwality Pharma such as Saudi Arabia, UAE, Jordan, Bahrain, Kuwait, Oman and Qatar and the 50+ PIC/S countries as well through mutual reorganization

Hyundai Motor India Limited (HMIL) through a dedicated indigenization roadmap has achieved up to 92% localization in manufacturing ▪ HMIL’s dedicated Localization Team currently engages 194+ vendors for sourcing over 1,238 parts

Thermax informed on the exchange filing that Ms. Janhavi Khele (ICSI Membership No: ACS20601) has vide letter dated January 21, 2025 tendered her resignation from the position of Company Secretary & Compliance Officer (Key Managerial Personnel) of the Company

Allotment of 1,73,834 (One lakh seventy-three thousand eight hundred thirty-four only) Equity Shares with face value of Rs. 2/- each of the Bank to the Option Grantees upon exercise of stock options under ESOS 2017 Scheme on January 21, 2025.

KPI Green Energy Limited has granted work order to M/s. Bondada Engineering Limited for BOS Items Supply & Services for EPCC Works at Vagra, Amod and Rajkot locations.

Ram Ratna Wires Ltd., a manufacturer of super enameled copper winding wires in India has announced that they have been selected in the 3rd round of PLI Scheme for White Goods.

Deal Win: US based, R.E. Chaix selects Intellect’s end-to-end underwriting ecosystem, eMACH.ai Xponent, to manage and underwrite submissions

In today's sectoral outlook, most sectors are experiencing losses, with FMCG being the exception, showing a marginal gain of 0.12%. The consumer durables sector leads the decline, followed by realty, banking, automotive, media, metals, pharmaceuticals, and PSU banks, all reflecting a challenging market trend.

Gainers - BPCL, Apollo Hosp, Tata Consumer, UltraTech and ITC
Losers - Trent, Adani Ports, Adani Ent, SBI and Reliance

Following a tepid opening after the inauguration, the Indian market swiftly erased its early gains today. As of 10:30 AM, the Sensex has plunged by 700 points. Among the top losers are Zomato, Adani Ports, NTPC, SBI, Reliance, and Tata Steel, while Ultratech Cement, HCL Tech, and ITC are among the few gainers amidst the downturn.

Pritika Auto Industries Limited,  manufacturers of precision machined components for the tractor and Heavy Commercial Vehicles in India, is pleased to announce the start of commercial production of the ordered components from a leading multinational Tractor Manufacturer in India after successful completion of inspection and trials at the customer end

Panama Petrochem informed the exchange filing that the Board of Directors of the Company is scheduled to be held on January 31, 2025, inter-alia, to approve and take on record the standalone and consolidated un-audited financial results of the Company for the quarter/ nine months ended December 31, 2024.

Sealmatic India Limited reported that it has achieved a significant milestone with the recent approval from the Kuwait Petroleum Company (KPC), a mother company to various subsidiaries such as KIPIC, KPI, KUFPEC, KGOC, KOC, KNPC, PIC, KOTC etc.

Gainers - Tech Mahindra, Tata Motors, HCL Tech, Titan and ITC
Losers - Zomato, Kotak Bank, NTPC, SB and Adani Ports

The Indian stock market opened on a flat note today, with the Sensex at 77,143.42, gaining 69.98 points (+0.09%). Meanwhile, the Nifty stood at 23,421.65, up by 76.90 points (+0.33%).

Indian stock market indicates a muted start 

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

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.

Glenmark Pharmaceuticals Inc., USA (Glenmark) announces the launch1 of Phytonadione Injectable Emulsion USP, 10 mg/mL Single Dose Ampules. Glenmark’s Phytonadione Injectable Emulsion USP, 10 mg/mL Single Dose Ampules is bioequivalent and therapeutically equivalent to the reference listed drug, Vitamin K1 Injectable Emulsion USP, 10 mg/mL of Hospira, Inc., ANDA 087955.

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.

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.

GIFT Nifty on the NSE IX rose 71 points, or 0.30%, to 23,425, signaling a strong start for Dalal Street on Tuesday.

Australia’s S&P/ASX 200 rose 0.56%, while Japan's Nikkei 225 slipped 0.09%, and the Topix declined 0.16%. South Korea’s Kospi reversed earlier gains, falling 0.36%, with the Kosdaq down 0.83%. Hong Kong’s Hang Seng index edged up 0.07%, and China’s CSI300 opened marginally higher. Markets in the U.S. remained closed for the Martin Luther King Jr. holiday. Central banks in Asia, including Malaysia, Japan, and Singapore, are set for key meetings this week.

The Wall Street was closed on Monday but it will be closely watching President Trump’s next moves on pro-business policies, including his push for looser regulations that previously boosted banking stocks. Key sectors like small caps, oil stocks, and bitcoin remain sensitive to the administration's direction. Last week, the S&P 500 saw a 2.9% rise, the Dow gained 3.7%, and the Nasdaq Composite climbed 2.5%, marking the market’s best week since the post-election rally in November.