Stock market update: Nifty Auto index falls 1.08% in a weak market
NEW DELHI: The Nifty Auto index traded negative around 10:47AM(IST)on Friday in a weak market.
ADVERTISEMENT Samvardhana Motherson International Ltd.(up 0.48 per cent) and Tube Investments of India Ltd.(up 0.04 per cent) were among the top gainers.
Bajaj Auto Ltd.(down 2.56 per cent), Ashok Leyland Ltd.(down 2.14 per cent), Mahindra & Mahindra Ltd.(down 1.54 per cent), Tata Motors Ltd.(down 1.49 per cent) and Exide Industries Ltd.(down 1.32 per cent) were the top losers on the index.
The Nifty Auto index was down 1.08 per cent at 23301.1 at the time of writing this report. Benchmark NSE Nifty50 index was down 106.8 points at 24726.8, while the BSE Sensex was down 314.85 points at 81318.17. Among the 50 stocks in the Nifty index, 4 were trading in the green, while 46 were in the red.
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Shares of Suzlon Energy, Vodafone Idea, Reliance Power, MMTC and Ola Electric Mobilit were among the most traded shares on the NSE.
Shares of Lumax Auto Tech, Shaily Engg Plastics, BSE, INEOS Styrolution and Venus Remedies hit their fresh 52-week highs in today's trade, while Career Point, Signpost India, Navkar Builders, California Soft(PP)and Borana Weaves hit fresh 52-week lows in trade.
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Time of India
39 minutes ago
- Time of India
Leela hotels makes weak market debut, list 7% below IPO price
NEW DELHI: Luxury hotel chain Schloss Bangalore Ltd, which operates the iconic "The Leela" brand in India, made a subdued debut on the stock exchanges on Monday, listing at a discount of nearly 7% from its issue price. The stock listed at Rs 406 on the NSE and Rs 406.50 on the BSE , lower than the IPO issue price of Rs 435. The IPO was open for subscription from May 26 to May 28, with a price band of Rs 413 to Rs 435 per share. Despite strong brand value and expanding operations, investor sentiment remained cautious. The IPO, which was subscribed 4.5 times. As of May 2024, Schloss Bangalore operates 12 luxury properties across 10 Indian cities, with a total of 3,382 rooms under The Leela Palaces, Hotels, and Resorts. Indian benchmark indices Sensex and Nifty witnessed a sharp decline on Monday morning, influenced by negative trends across Asian markets and growing global trade worries. According to market analysts, the selling pressure intensified due to continued withdrawal of funds by foreign investors. The BSE Sensex index fell by 762.24 points to reach 80,688.77 during early trading hours. Similarly, the NSE Nifty declined by 212.25 points to 24,538.45. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
41 minutes ago
- Business Standard
Anil Ambani Reliance group stock hits 7-yr high; zooms 101% from March low
Reliance Power share price today Shares of Reliance Power hit a seven-year high of ₹62.80, as they rallied 8 per cent on the BSE in Monday's intra-day trade in an otherwise weak market. The stock price of this power generation company was trading at its highest level since January 2018. The stock price of Anil Ambani Reliance group company quoted higher for the third straight day, surging 24.5 per cent during the period. Thus stock soared 57 per cent in May month; while it has more-than-doubled or zoomed 101 per cent from its March month low of ₹31.30 on the BSE. At 11:11 AM; Reliance Power was trading 7 per cent higher at ₹62.34, as compared to 0.51 per cent decline in the BSE Sensex. The counter has seen huge trading volumes; with a combined 311.45 million equity shares changing hands on the NSE and BSE. On May 28, 2025, Reliance Power subsidiary, Reliance NU Energies Private Limited (Reliance NU Energies), received the Letter of Award (LOA) from SJVN Limited, a Navratna Central Public Sector Enterprise, for a 350 MW inter-state transmission system (ISTS)-connected solar power project coupled with a 175 MW/700 MWh Battery Energy Storage System (BESS). Once commissioned, the platform will add 600 MW of solar DC capacity, and 700 MWh of BESS capacity to Reliance Power's portfolio, consolidating its leadership in new energy solutions. The company's total clean energy pipeline now stands at 2.4 GW of Solar DC capacity and over 2.5 GWH of BESS capacity, making it India's largest player in the integrated Solar + BESS segment, Reliance Power said. Reliance NU Energies had earlier emerged as the successful bidder in the competitive auction conducted by SJVN, securing the project at a fixed tariff of ₹3.33/kWh for a period of 25 years. The project was part of a larger 1,200 MW solar + 600 MW/2,400 MWh BESS tender, which attracted participation from 19 developers, with 18 qualifying for the final e-reverse auction. The tender was oversubscribed by more than 4 times, reflecting heightened industry interest in dispatchable renewable energy solutions, the company said. On May 19, Reliance Power signed a commercial term sheet for long-term Power Purchase Agreement (PPA) with Green Digital Private Limited (GDL), owned by Druk Holding and Investments Limited (DHI), the investment arm of the Royal Government of Bhutan. This groundbreaking initiative is expected to play a pivotal role in advancing regional clean energy integration, and enhancing cross-border infrastructure collaboration across South Asia. Reliance Power and DHI will jointly develop Bhutan's largest solar power project through a 50:50 venture, with an installed capacity of 500 MW. The project entails a capital outlay of up to ₹ 2,000 crore under Build-Own-Operate (BOO) model, representing the largest private sector foreign direct investment (FDI) in Bhutan's solar energy sector to date, Reliance Power said in a press release. Reliance Power's, 100 per cent subsidiary Reliance NU Suntech Private Limited, has recently signed a definitive 25-year PPA with the Solar Energy Corporation of India (SECI) to develop Asia's largest integrated BESS project. The transformational project will have a solar power capacity of 930 MW, paired with 465 MW/1860 MWh BESS, and will have an investment outlay of up to ₹10,000 crore. The project will operate at a competitive fixed tariff of ₹3.53/ kWh for the full PPA term of 25 years, providing long-term revenue visibility, the company said. Meanwhile, for the January to March 2025 quarter (Q4FY25), Reliance Power posted a consolidated net profit of ₹ 126 crore due to lower expenses. The company had reported a loss of ₹397.56 crore in the quarter ended on March 31, 2024. Total income dipped to ₹2,066 crore in the fourth quarter from ₹2,194 crore in the same period a year ago. Reliance Power said total debt servicing including maturity repayment in 12 months of ₹5,338 crore. Debt to equity among the lowest in the industry reduced from 1.61:1 in FY24 to 0.88:1 in FY25. About Reliance Power Reliance Power, part of the Reliance Group, is one of India's leading private sector power generation companies. The company has an operating portfolio of 5,305 megawatts, that includes 3960 megawatts Sasan Power Limited (world's largest integrated coal based power plant). For the past seven years, Sasan Power has consistently ranked as the best operating power plant in India.


Business Standard
an hour ago
- Business Standard
Nifty hovers below 24,600 level; metal shares drop
The key domestic indices continued to trade with significant losses in morning trade pressured by weak global cues. Investors will closely monitor key events such as the RBI MPC meeting, auto sales numbers, and global trade developments. The Nifty hovered below the 24,600 level. Metal shares tumbled for the second consecutive trading session. At 10:28 IST, the barometer index, the S&P BSE Sensex declined 574.82 points or 0.70% to 80,881.76. The Nifty 50 index fell 161.85points or 0.65% to 24,588.65. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.09% and the S&P BSE Small-Cap index added 0.37%. The market breadth was positive. On the BSE, 1,936 shares rose and 1,766 shares fell. A total of 221 shares were unchanged. Economy: India's GDP growth touched a four-quarter high of 7.4% in Q4 FY25, with full-year growth ending at 6.5%, according to data released by the government post market hours Friday. The GDP growth, higher than the previous quarter of 6.4%, was lower than the 8.4% growth logged in Q4 FY24. Meanwhile, Indias fiscal deficit for FY25 stood at 4.8% of GDP, meeting the revised estimate, according to data released by the Comptroller General of Accounts on Friday. The central governments fiscal deficit stood at Rs 15.77 lakh crore, or 100.5% of the revised annual target, compared with 95.4% a year before. New Listing: Shares of Schloss Bangalore (The Leela) were currently trading at Rs 424.90 at 10:20 IST on the BSE, representing a discount of 2.32% compared with the issue price of Rs 435. The scrip was listed at Rs 406.50, exhibiting a discount of 6.55% to the issue price. So far, the stock has hit a high of 426.90 and a low of 404.45. On the BSE, over 2.60 lakh shares of the company were traded in the counter so far. Shares of Aegis Vopak Terminals were currently trading at Rs 228.95 at 10:14 IST on the BSE, representing a discount of 2.57% compared with the issue price of Rs 235. The scrip was listed at Rs 220, exhibiting a discount of 6.38% to the issue price. So far, the stock has hit a high of 235.75 and a low of 220. On the BSE, over 6.57 lakh shares of the company were traded in the counter so far. Buzzing Index: The Nifty Metal index declined 1.35% to 9,069.30. The index fell 3.02% in the two trading sessions. JSW Steel (down 1.61%), Steel Authority of India (down 1.36%), Lloyds Metals & Energy (down 1.35%), Tata Steel (down 1.26%), Vedanta (down 0.98%), Hindalco Industries (down 0.9%), NMDC (down 0.89%), APL Apollo Tubes (down 0.84%), Welspun Corp (down 0.74%) and Jindal Stainless (down 0.59%) declined. Stocks in Spotlight: IRCON International rose 1.78% after the company said that it has received an engineering, procurement, and construction (EPC) contract from the East Central Railway, Indian Railway, worth Rs 1,068.34 crore. Titagarh Rail Systems advanced 1.24%. The company reported 18.36% decline in consolidated net profit to Rs 64.45 crore on 4.45% fall in revenue from operations to Rs 1,005.57 crore in the quarter ended 31 March 2025 over the quarter ended 31 March 2024. Genesys International Corporation fell 0.82%. The company reported 27.60% jump in consolidated net profit to Rs 18.95 crore on 32.30% surge in revenue from operations to Rs 94.16 crore in Q4 FY25 over Q4 FY24.