Stock Market LIVE Updates: Hyundai India trades 3% lower; Sensex 400 pts lower; Nifty at 24,650
On Tuesday, the BSE Sensex and Nifty 50, the key Indian stock market indices, declined, moving into negative territory.
12:03 PM
Market Update at Noon: Sensex and Nifty Show Minimal Movement in Bearish Territory
On Tuesday, the BSE Sensex and Nifty 50, the key Indian stock market indices, were trading in the red zone after a somewhat varied start to the trading day.
By midday, the BSE Sensex had dipped by 300.98 points, marking a 0.37% decrease to 80,850, whereas the Nifty 50 stood at 24,686 after a decline of 94.95 points, equivalent to a 0.38% drop.
11:40 AM
Live Updates on Stock Market: Despite ongoing geopolitical conflicts, crude oil is forecasted to potentially drop to the low $60s by the end of 2025.
Analysts at JP Morgan predict that after reaching $80 per barrel in the final quarter of 2024, crude oil prices may decline to the low $60s by the conclusion of 2025, marking an approximate 10% increase from present rates in the stock market.
According to a report by JP Morgan, key stakeholders in the West Asian region, such as Saudi Arabia and the United Arab Emirates, are highly motivated to prevent the escalation of conflict, especially in light of the significant economic changes unfolding in the Gulf area.
11:29 AM
Authum Investment & Infrastructure experiences a significant 12% decline in its stock value amidst a lackluster Q2 performance, with profits plummeting by 56%. Stay tuned for more live updates on the stock market.
In Monday’s intraday trade on the BSE, the stock market witnessed a significant downturn as Authum Investment & Infrastructure’s shares plummeted by 11.7% to Rs 1,647.30 per share. This sharp decline in share price followed the company’s disappointing performance in the second quarter of the financial year 2024-25 (Q2FY25).
In the second quarter of FY25, the non-banking financial company (NBFC) reported a consolidated revenue of Rs 1,092.62 crore, reflecting a 49.2% decrease from the Rs 2,151.75 crore generated in the corresponding quarter of the previous year. Compared to the revenue of Rs 1,416 crore in Q1FY25, the sequential revenue witnessed a decline of 22.3%.
Live Stock Market Update: UltraTech Cement increases by 2% as the company aims for a 7-8% growth in the future; varying opinions from brokerages.
The latest developments in the stock market show a positive trend for UltraTech Cement, as the share price of India’s leading cement manufacturer surged by 1.88% to reach Rs 11,074.60 per share. This increase marks a significant gain of 2.96% from its lowest point of the day at Rs 10,755.30.
Following UltraTech Cement’s announcement of its plans to achieve a 7-8 percent growth in the upcoming years, there was a noticeable rise in the company’s share price.
11:11 AM
Live Updates from the Stock Market: Paytm reports a profit of Rs 930 crore in Q2 following the sale of its ticketing business, causing a 5% decline in shares.
Live updates from the stock market: Paytm’s revenue from operations in Q2FY25 stands at Rs 1,659.5 crore, marking a 34% year-on-year decrease from Rs 2,518.6.
The company recorded a larger loss of Rs 406.5 crore before exceptional items and taxes, compared to Rs 273.3 crore in the same period last year.
During the quarter, the company recorded a notable gain of Rs 1,345.4 crore from selling its ticketing business to Zomato.
Paytm subsequently announced a pre-tax profit of Rs 938.9 crore, a significant turnaround from the Rs 279 crore loss recorded in the same period last year.
The corporation, in the meantime, disclosed a quarterly profit of Rs 930 crore, a stark contrast to the Rs 291.7 crore loss recorded in the corresponding quarter of the previous year.
11:02 AM
Market Update at 11 AM: Sensex and Nifty dip into the red zone – Stay tuned for live stock market updates.
Live updates from the stock market reveal that the key Indian stock indices, BSE Sensex and Nifty 50, started the trading session with a blend of gains and losses on Tuesday, with a slight tilt towards the negative territory.
By 11 AM, the BSE Sensex had gained 128.56 points, equivalent to 0.16%, reaching 81,022, whereas the Nifty 50 stood at 24,720, showing an increase of 60.65 points, or 0.24%.
10:54 AM
Should you consider purchasing, offloading, or retaining Hyundai Motor India shares as they drop by 3% post-listing? Stay tuned for the latest Stock Market LIVE Updates.
At 10:17 am, Hyundai Motor India, the second-largest automobile company in India, witnessed a disappointing start on the stock exchanges as its shares debuted in the negative territory. The stock was trading at Rs 1,871 on the National Stock Exchange (NSE), reflecting a 3.26% decline from its IPO price of Rs 1,960.
Nearly 13.88 million shares of Hyundai Motor India were traded on both the NSE and BSE collectively.
10:43 AM
Live updates from the stock market reveal that Hyundai Motor India shares have had a lackluster debut on the trading floors, entering the market at a 1% discount.
Hyundai Motor India, the second-largest automobile company in the country, saw a disappointing start on the stock exchanges with its shares debuting at Rs 1,931 on the BSE. This marked a 1.47% discount from its issue price of Rs 1,960 per share.
Hyundai Motor India shares made their entrance on the National Stock Exchange (NSE) at Rs 1,934, marking a 1.32 percent markdown from their initial public offering (IPO) price.
10:32 AM
Live Stock Market Updates: Ganapathy Suggests Major Banks Might Need to Alter Their Ownership Structures
Update on the Stock Market: Ganapathy noted that major banks are associated with significant Non-Banking Financial Companies (NBFCs) beneath them, leading to considerable consequences for the former.
Large banks might be required to divest their shares in NBFCs or consider merging due to the RBI providing additional clarity on its draft circular, he mentions.
Reported by CNBC TV18, Ganapathy mentioned that banks might face challenges in adjusting their holding structures.
10:27 AM
Live Updates from the Stock Market: Suresh Ganapathy from Macquarie highlights the necessity for clearer guidelines on the RBI draft circular in the Indian market.
10:16 AM
Today marks the commencement of the subscription for United Heat Transfer (SME) IPO, where the market excitement is evident with a GMP of 17%. Stay tuned for live updates on the stock market!
Live Stock Market Updates: Today, United Heat Transfer’s Rs 30 crore IPO, a book-built offering, has commenced public subscription with a 17% grey market premium. This public offering includes 5,084,000 fresh shares priced between Rs 56-59, with a lot size of 2000 shares available for investors.
The opportunity to subscribe for the United Heat Transfer IPO will end on Thursday, October 24, 2024. Subsequently, the allocation of shares will be determined on Friday, October 25, 2024. United Heat Transfer’s shares are anticipated to be listed on NSE SME by Tuesday, October 29, 2024.
10:14 AM
Today marks the beginning of subscription for the Danish Power (SME) IPO, which boasts a GMP of 70%, providing live updates on the stock market.
The IPO launch of Danish Power, valued at Rs 197.90 crore through a book-building process, commenced today for public investment. There is a notable grey market premium of 70 percent associated with this offering. Danish Power’s public offering includes 5,208,000 new shares at a price range of Rs 360-380 per share, with a lot size set at 300 shares.
The opportunity to subscribe to the Danish Power IPO will end on October 24, 2024. Subsequently, the allocation of the company’s shares will be determined by October 25, 2024. Anticipated listing of the company’s shares on NSE SME is scheduled for October 29, 2024.
10:12 AM
Live Stock Market Updates: Hyundai Motor India’s IPO debuts 1.5% below at Rs 1,931
Live updates from the stock market: Hyundai Motor India IPO shares were introduced at Rs 1,931, exhibiting a decrease of 1.47% compared to the issue price of Rs 1,960.
Tuesday marked the commencement of trading for Hyundai Motor India following an unprecedented $3.3 billion initial public offering, the largest in the history of the South Asian nation.
10:07 AM
Market Update at 10 AM: Sensex and Nifty on the Rise – Stay Tuned for LIVE Stock Market Updates
Live Updates from the Stock Market: Today, the benchmark Indian equity indices showed an upward trend, starting off with a varied opening in the trading session.
By 10 AM, the BSE Sensex had climbed 335.39 points to reach 81,487, with the Nifty 50 also rising to 24,878, marking a 0.39% increase with a 97-point surge.
