After opening the day lower, Indian benchmark indices reversed the trend as the session progressed and ended the day on a positive note.Benchmark indices Sensex and Nifty 50 recovered from early losses to trade in the green on Friday on value purchase after the recent fall. Bank stocks and index heavy-weight Reliance helped Sensex recover over 700 points from the day’s lowAt the closing bell, the BSE Sensex stood higher by 218 points (up 0.3%).Meanwhile, the NSE Nifty closed higher by 113 points (up 0.5%).Wipro, ICICI Bank, and Axis Bank are among the top gainers today.Infosys, HUL, and Nestle on the other hand, were among the top losers today.The GIFT Nifty was trading at 24,947 up by 87 points at the time of writing.The BSE MidCap index ended 0.2% higher and the BSE SmallCap index ended 0.2% lower.Sectoral indices were trading mixed with socks in the metal sector and the banking sector witnessing buying. Meanwhile, stocks in the FMCG sector and energy sector witnessed selling pressure.Torrent Power, NALCO, and Century Textiles hit their respective 52-week highs today.The rupee is trading at 84.07 against the US$.Gold prices for the latest contract on MCX are trading 0.6% higher at Rs 77,598 per 10 grams.Meanwhile, silver prices were trading 1.3% higher at Rs 92,920 per 1 kg.
 Why Ajmera Realty Share Price is RisingIn news from the realty space, Ajmera Realty & Infra India shares advanced over 8% on 18 October after the company raised Rs 2.3 bn on preferential allotment of shares to marquee investors.The board of directors of the company in their meeting held today approved the allotment of 3.1 m shares with a face value of Rs 10 per equity share to allottees on a preferential basis.Investors like Mukul Agrawal, Prabhudas Lilladher Advisory, Vijay Khetan, GeeCee Ventures Limited, Mahalaxmi Brokerage, and more were issued shares on a preferential basis. Star investor Mukul Agrawal invested close to Rs 540 m for share allotment.The scrip witnessed a sharp up move with the price touching an intraday high of Rs 873.9 per share on the NSE, rising 8.6% from its previous closing.
 Tanla Platform Tanks 7%. Here’s WhyMoving on to news from the IT space, shares of Tanla Platforms tanked close to 7% on 18 October as investors flew the stock after the company reported dismal earnings for the July-September period.The company’s net profit sank 9% on year to Rs 1.3 bn while revenue fell 1% to Rs 10 bn.Revenue from the company’s digital platforms segment declined nearly 8% year-on-year to Rs 880 m.However, Tanla Platforms noted that excluding the impact of Vodafone Idea, the segment’s revenue grew by 16%.Additionally, EBITDA margins for the quarter contracted by 1.9% year-on-year to 17.5%, mainly due to lower gross profit growth and an increase in indirect costs.Furthermore, the selloff in the stock today was also triggered by heavy trading volumes as nine lakh shares changed hands so far, higher than the one-month daily traded average of four lakh shares.During Q2, the company faced higher cloud and hosting charges as part of its infrastructure revamp initiatives.Employee costs also rose on the back of salary increments, net additions, and restricted stock unit (RSU) expenses.Furthermore, there was a rise in marketing and general expenses, although this was partially offset by forex gains. All of these factors, when combined weighed on the company’s operating margins as well as bottom line.Reddy also remarked on another deal that Tanla signed with one of the largest banks in India this quarter for Wisely ATP.

Here’s Why Mazagon Dock Zooms 8% Today
Moving on to news from the shipbuilding space, PSU Mazagon Dock’s share price jumped 8% on 18 October as the company announced to mull stock split and interim dividend in its board meeting on 22 October.The company has also fixed the record date of Wednesday, 30 October 2024 for the purpose of payment of interim dividend on equity shares for the financial year 2024-25, if declared by the board.The current face value of each stock of the company is Rs 10 and it will also be the first stock split in the company’s history.The government of India holds an 84.8% stake in the state-run Mazagon Dock as of the September 2024 quarter.Mazagon Dock Shipbuilders raised Rs 443 crore through its public issue from September 29 to October 1.The shares were listed at Rs 216.25 delivering investors a return of Rs 71.25 compared to the IPO price band of Rs 135 to Rs 145 per share.The company is engaged in the construction and repair of warships and submarines for the Ministry of Defence.More By This Author:Sensex Today Tanks 550 Points; Nifty Below 24,600
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