After opening the day higher, Indian benchmark indices remained volatile as the session progressed and ended the day lower.Benchmark equity indices ended their two-day winning streak, closing Tuesday’s session in negative territory.At the closing bell, the BSE Sensex stood lower by 105 points (down 0.1%).Meanwhile, the NSE Nifty closed lower by 27 points (down 0.1%).Infosys, Asian Paints, and Britannia are among the top gainers today.Adani Enterprises, Adani Ports, and Bajaj Auto on the other hand, were among the top losers today.The GIFT Nifty was trading at 24,223 down by 126 points at the time of writing.The BSE MidCap index ended 0.1% higher and BSE SmallCap index ended 0.6% higher.Sectoral indices were trading mixed today with stocks in the IT sector and the media sector witnessing buying. Meanwhile, stocks in the power sector and oil & gas sector witnessing selling pressure.Coforge, Praj Industries, and Wipro hit their respective 52-week highs today.The rupee is trading at 84.34 against the US$.Gold prices for the latest contract on MCX are trading flat at Rs 75,320 per 10 grams.Meanwhile, silver prices were trading 0.6% higher at Rs 88,261 per 1 kg.
Triveni Turbine Hits Record HighIn news from the engineering sector, shares of Triveni Turbine were on a roll, advancing as much as 16% to hit its record high of Rs 885 on 26 November.The strong buying action in the stock was triggered by a steep spike in trading volumes on the back of the company’s robust growth prospects.As much as three crore shares of the company have changed hands on the exchanges so far, a meteoric rise from the one-month daily traded average of 25 lakh shares.The company’s robust performance for the July-September quarter had sharply lifted sentiment for the stock. Triveni Turbine reported its highest-ever quarterly revenue and EBITDA, along with a record closing order book in Q2.The company’s revenue came at Rs 501 crore in Q2 FY25, up 29% compared to Rs 3.9 bn in the same period last year. Domestic sales rose 32% while exports grew 26%.While domestic order bookings remained largely muted due to election season, Triveni Turbine remains confident of an improvement in the cycle as government spending is expected to gather pace in the second half of FY25.
ACME Solar Shares Drop 7.5%Moving on to news from the solar sector, shares of ACME Solar Holdings took a hit on November 26 after plunging as much as 7.5% on the back of a sharp decline in the company’s Q2 net profit.Consolidated net profit for the July-September period dropped 60% on year to Rs 152.9 million (m), a sharp downturn from the Rs 386.3 m it reported in the same quarter last fiscal. The drag in net profit was mainly on account of lower revenue after the company monetised 369 MW of operational assets in the second half of the previous fiscal.These assets had contributed Rs 1.7 bn in revenue in the first half of FY24, leading to a high base of the previous fiscal.Looking ahead, the company aims to have an operational portfolio of 10 GW contracted capacity by 2030. Its current operational portfolio stood at 2,540 MW at the end of the September quarter.Regardless, the company’s weak set of earnings comes just two weeks after the stock made its market debut.
Enviro Infra IPO subscribed 30x on Day 3Moving on, Enviro Infra Engineers IPO subscription status has reached a whopping 30.32 times on the last day of its bidding on 26 November at a price band of Rs 140-148 apiece.The Rs 6.5 bn initial public offering (IPO) of Enviro Infra received bids for 933.7 m shares against 30.7 m shares on offer, according to the NSE data till 1.15 PM.The category for non-institutional investors fetched 94.59 times subscriptions while the portion for Retail Individual Investors (RIIs) got subscribed 16.90 times. The Qualified Institutional Buyers (QIBs) part received 5.64 times the subscription. Earlier, it collected about Rs 195 crore from anchor investors.Meanwhile, Enviro Infra IPO declined marginally on the concluding day of its issue on Tuesday.
Route Mobile Jumps 3%. Here’s WhyMoving on to news from the IT sector, shares of Route Mobile surged over 3% to Rs 1,460 apiece on November 26, the most in 15 weeks amid heavy volumes.Despite today’s rise, the stock has declined over 9% so far this year, as compared to the benchmark Nifty 50’s 10% surge.So far on 26 November, around 58,000 equity shares exchanged on both BSE and NSE, as against a one-month average of 97,000 equity shares.Recently, Route Mobile UK, a subsidiary of Route Mobile approved the acquisition of 75 lakh shares in PT Route Mobile Indonesia (RM Indonesia) for Indonesian Rupiah (IDR) 7,507,500,000 on 22 November 2024.More By This Author:Sensex Today Trades Higher; Nifty Above 24,300; VI Rallies 10%
Sensex Today Rallies 993 Points; Nifty Above 24,200
Sensex Today Zooms Over 1,200 Points; Nifty Above 24,300
