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The Indian stock market witnessed a mixed session on January 8, 2025, as investors remained cautious amidst global and domestic cues. The benchmark indices, Sensex and Nifty50, displayed volatility throughout the trading day before closing with marginal losses. Sectoral performance varied, with some indices gaining traction while others lagged.
I) Nifty: opened at 23551 and touched a high of 23596, then a low of 23344, and closed at 23431 with a total of -95 points in Negative.
II) Bank Nifty: opened at 49426 and touched a high of 49483, then a low of 48631, and closed at 48734 with a total of -769 points negative.
III) CNX Finance: opened at 23010 and touched a high of 23030, then a low of 22684, and closed at 22730, with a total of -295 points in Negative.
IV) Nifty Mid Select: open 12601 and touched a high of 12660, then a low of 12461, and closed at 12481, With a total of -81 points in Negative.
1. TCS: Shares of TCS surged 4.7% after reporting a 12% rise in Q3 net profit to Rs 12,380 crore. Revenue grew 5.6% YoY, driven by strong TCV performance. Analysts offered mixed ratings, with Morgan Stanley, Nomura, and Nuvama providing varying target prices.
2. Anand Rathi: If approved, this will mark the first-ever bonus issue by Anand Rathi Wealth.
1. Adani Wilmar: The OFS will have a base offer of 13.5% equity and a green shoe option for another 6.5% stake, a company filing said on January 9.
2. Tata Elxsi: Shares of Tata Elxsi Ltd. declined as much as 8% on Friday, January 10, following price target cuts after its December quarter results fell short of analyst expectations. Analysts said the company was affected during the quarter by a continuing slowdown in the communications business and headwinds in the automotive segment.
BSE Anticipates Continued IPO Momentum in 2025: The Bombay Stock Exchange (BSE) expects the record-breaking trend of Initial Public Offerings (IPOs) to persist into 2025, with over 90 companies filing draft prospectuses to raise approximately ₹1 trillion. Reuters
Nestle India Shares Decline: Nestle India Ltd.'s stock fell by 0.47% to ₹2,245.90, underperforming the broader market, which also saw declines. MarketWatch
Tech Mahindra Outperforms Competitors: Tech Mahindra Ltd. shares rose by 3.78% to ₹1,705.35, outperforming both the market and its industry peers. MarketWatch
IndusInd Bank Shares Drop Following Downgrade: IndusInd Bank's stock declined by 2.8% after Goldman Sachs downgraded the lender to 'neutral.' Reuters
Adani Wilmar Shares Plummet: Adani Wilmar experienced a significant drop of 9.3% after the Adani Group announced the sale of its stake at a reduced price. Reuters
Latest Updates on Indian Stock Market Movements
India's BSE expects record-breaking IPO run to continue unabated in 2025, CEO says
TodayMarketWatchNestle India falls Friday, underperforms marketTodayMarketWatchTech Mahindra outperforms competitors on strong trading day today
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