Discover the top stock market headlines that are trending in India today.
By midday on Tuesday, Indian stock markets dipped, and retreated from a flat opening. While the Sensex fell 224.84 points (0.27%) to 81,748.21, Nifty50 went down 83.90 points (0.33%) to 25,044.05. As for the overall market, it was positive with 1,950 stocks advancing, but 1,881 declining. ICICI Bank led the market with 1.89% rise, and it was followed by BPCL, Bharti Airtel, Asian Paints, and Britannia. Albeit, the auto stocks witnessed a slump as Bajaj Auto went down 3.15%. Wipro, Bajaj Finance, and M&M too faced losses.
Reliance Industries Limited (RIL) shares dropped down by over 1% after the company shared a 5% drop in net profit for the second quarter. At 12:30 pm, the shares of the Mukesh Ambani-led conglomerate stood 1.20% down Rs 2,712.30 on the Bombay Stock Exchange (BSE). Owing to the company’s weaker-than-expected performance in its oil-to-chemicals (O2C) segment, the investors are now worried for their next move. Meanwhile, RIL did report a consolidated net profit of Rs 16,563 crore for the quarter ending September, which was a drop down of 5% from the previous year.
Shares of HCL Technologies Ltd. posted gains of nearly a percent on Tuesday, October 15. The rise came after the IT company reported a robust financial performance for the September quarter, and surpassed estimates. Coming to HCLTech's better-than-expected Q2 earnings, it led to multiple brokerages increasing their price targets on the stock. In fact, HCL Technologies has amped up its lower end of its FY25 revenue growth guidance to 3.5%–5% from 3–5% range earlier.
Shares of low-budget carrier SpiceJet gained around 3 percent on October 15 after the company reached a settlement with two more lessors for a sum of $5 million. It is believed that SpiceJet settled a $23.39 million dispute with Aircastle (Ireland) Designated Activity Company and Wilmington Trust SP Services (Dublin) and paid a total payment of $5 million. With the recent development, all the ongoing litigations and disputes between the two parties will be withdrawn.
