Discover the top stock market headlines that are trending in India today.
Benchmark indices Nifty and Sensex remained in the green during the afternoon on October 14. They maintained a strong start from the morning, owing to the banking and information technology shares seeing a sharp uptick. At 11:45 am, the Sensex was up 596.77 points or 0.73 percent and was at 81,978.13. Coming to Nifty, it was up to 165.00 points or 0.66 percent at 25,129.30. As for the broader market, which means the mid and small caps, underperformed the headline indices.
Shares of Avenue Supermarts (DMart) went down 9.37 per cent on Monday, October 14, 2024, and hit an intraday low of Rs 4,143.60 per share. The reduction in the DMart share price was seen after the company’s September quarter results missed street expectations. In the September quarter (Q2FY25), the company’s net profit was up 5.8 per cent year-on-year (Y-o-Y) to Rs 659.6 crore, in comparison to Rs 623.6 crore in the same quarter previous fiscal (Q2FY24). Meanwhile, the overall revenue increased by 14.4 percent annually to Rs 14,444.5 crore, compared to Rs 12,624.37 crore in Q2FY24.
In morning trade on Monday, October 14, the share price of PNC Infratech gained 6% after the company announced receipt of a Letter of Acceptance (LOA) for Rs 2,040 crore EPC project from City & Industrial Development Corporation of Maharashtra (CIDCO). While the share price opened at Rs 455.10 on the BSE on Monday, as compared to the previous closing of 440.60, the stock even extended gains, to see a rise of over 6 percent to the high of Rs 467.75.
Shares of Bajaj Housing Finance Ltd. dropped down on Monday, October 14, as the one-month lock-in period for shareholders ended. For those caught unaware, it is the recently listed housing finance arm of Bajaj Finance Ltd., and around 12.6 crore shares or 2% of the company's outstanding equity is now up for trading. Albeit, the end of the lock-in period does not mean that all of these shares will be sold in the open market.
