Nifty, Sensex Continue to Drift Aimlessly - Wednesday Closing Report
Moneylife Digital Team 11 December 2024
On Wednesday, stocks 2145 advanced, 1840 declined and 110 remained unchanged, on the Bombay Stock Exchange (BSE) with an advance decline ratio of 1.16, indicating positive closing of stocks in broader markets. The trend of the major indices on Wednesday’s trading is given in the table below.
 
 
On NSE, 103 securities advanced and closed at a new 52-week high whereas 13 securities sank to close at their new 52-week lows. In sectoral indices, Nifty FMCG, Nifty Auto and Nifty IT among the biggest gainers. Nifty PSU Bank, Nifty Media and Nifty Energy among the biggest losers.
 
Coca-Cola sold a 40% stake in its Indian bottling arm, Hindustan Coca-Cola Beverages Limited, to the Jubilant Bhartia Group, marking a significant corporate restructuring in the Indian beverage market.
 
Shakti Pumps (+4.40%) was awarded contract worth Rs754 crore for 25,000 solar water pumps for the entire state of Maharashtra under Magel Tyala Saur Krushi Pump Scheme.
 
Swiggy (-3.90%) introduced 'One Blck', an invite-only premium membership program priced at Rs299 for three months, targeting select customers with exclusive benefits.
 
The Supreme Court has initiated proceedings against Reliance Infrastructure's subsidiary and Axis Bank's managing director, demanding explanation for failing to refund over Rs4,500 crore to the Delhi Metro Rail Corporation as previously directed.
 
Bajaj Holdings & Investment reported (-0.27%) Q2FY24-25 consolidated net sales of Rs292.80 crore, up 97.69% quarter-on-quarter and 21.97% year-on-year. Net profit for the quarter stood at Rs1436.36 crore, a 3.67% increase from the previous year.
 
Dee Development won a new order valued worth Rs140 crore from an international entity for the supply of prefabricated pipe spools.
 
Tata Power Renewable Energy formed a partnership with Tivolt Electric to collaborate on electric vehicle (EV) charging infrastructure. 
 
Mahindra & Mahindra's (+0.17%) last mile mobility division partnered with Vidyut to offer EV battery rental services, aiming to improve EV accessibility and affordability. 
 
INOX Wind (-2.14%) announced plans to establish a solar module manufacturing unit in Gujarat with an initial 1.2 GW capacity by March 2025. They aim to achieve 5 GW solar module and 2.5 GW solar cell production capacity by 2026, with a projected capital expenditure of Rs1,500 crores. This move marks its entry into solar module manufacturing, potentially diversifying its renewable energy portfolio.
 
BEML (Bharat Earth Movers Limited) (+2.34%) won Rs136 crore contract from the Ministry of Defence. The order is for high mobility vehicles with 8x8 configuration, likely for military applications.
 
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 
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