After opening the day higher, Indian benchmark indices fell as the session progressed and ended the day on a negative note.Indian benchmark equity indices, BSE Sensex, and NSE Nifty50 ended Wednesday’s choppy session to settle in the negative territory.At the closing bell, the BSE Sensex stood lower by 138 points (down 0.2%).Meanwhile, the NSE Nifty closed lower by 38 points (down 0.2%).TCS, Bajaj Auto, and Tech Mahindra are among the top gainers today.NTPC, Sun Pharma, and M&M on the other hand were among the top losers today.The GIFT Nifty was trading at 24,477 down by 48 points at the time of writing.The BSE MidCap index ended 0.5% higher and the BSE SmallCap index ended 1% higher.Sectoral indices were trading mixed today with stocks in the IT sector and the telecom sector witnessing buying. Meanwhile, stocks in the power sector and healthcare sector witnessing selling pressure.Coforge, Indigo Paints, and Suven Pharma hit their respective 52-week highs today.The rupee is trading at 84.08 against the US$.Gold prices for the latest contract on MCX are trading 0.1% higher at Rs 78,729 per 10 grams.Meanwhile, silver prices were trading 0.5% lower at Rs 99,463 per 1 kg.
Why Amber Enterprises Share Price is RisingIn the news, the prolonged summer this year has meant strong growth for refrigeration and air conditioning player Amber Enterprises, reflected in the September quarter earnings, which has powered the share prices to record levels, rising by 14% in trade on October 23.The company saw a two-fold growth in the RAC segment, owing to a prolonged summer and lower inventories. The company claims to have built a stronger order book of Light Commercial ACs, and also diversified into what it calls more ‘margin accretive’ segments, as it focuses on increasing the localization potential.The bare printed circuit board (PCB) segment is expected to grow to Rs 80,000 crore market by FY30, from present Rs 32,000 crore levels at a 11-12% CAGR. This market, Amber said is 85% catered via imports, offering a big delta for Indian players.Amber Enterprises reported a consolidated revenue from operations at Rs 16.8 bn, a growth of 82% on year, and a net profit of Rs 209.6 m compared to a net loss a year ago.The topline growth was largely driven by growth in the consumer durables business. A quarterly operating EBITDA of Rs 1.2 bn was recorded as against Rs 650 m a year ago, a growth of 85%.The September quarter revenue in the electronics division has risen by 98% on year to Rs 4.9 bn, helped by orders from the defense segment, and an anti-dumping duty on Chinese PCBs.Amber has guided for revenue growth of more than 45% in the EMS space for the year.
Sonata Software Surges 5%. Here’s Why
Moving on to news from the IT sector, Sonata Software’s stock surged 5% to Rs 613 on October 23 after the company secured a significant multi-year managed services contract from a Fortune 500 manufacturing giant.The partnership will focus on deploying an AI-driven, scalable operational framework to accelerate the client’s global expansion and digital transformation.Through this long-term agreement, Sonata Software will assist the manufacturing leader in modernizing its operations and delivering a seamless, unified user experience at scale.The collaboration leverages AI-powered solutions and industry best practices to enhance operational efficiency, ensuring both productivity gains and a strong return on investment.The Fortune 500 client, known for developing innovative packaging solutions aligned with the principles of the circular economy, has also expanded its footprint over the years through multiple acquisitions.Sonata Software offers a range of IT services and software solutions to clients worldwide.Its services include cloud and data modernization, Microsoft Dynamics modernization, digital contact center setup and management, managed cloud services, digital transformation, business app modernization, platformation consulting, and data analytics.
Jyoti Structures New Order WinMoving on to news from the engineering sector, Jyoti Structures gained 4.61% to Rs 31.79 after the company said that it has received a letter of acceptance from Adani Energy Solutions for a project worth Rs 4.5 bn in Navinal, GujaratThe project includes surveying, soil investigation, supplying towers, foundation work, commissioning, and the installation and stringing of the LILO for the 765 kV DC Bhuj II-Lakadia transmission line at Navinal, Gujarat, on a turnkey basis.The project will be executed within 18 months, by April 2026 and the size of contract is Rs 4.5 bn.Jyoti Structures provides turnkey solutions in the field of power transmission.Adani Green Energy (AGEL), a part of India-based Adani Group, has one of the largest global renewable portfolios with overall portfolio of 20.4 gigawatt (GW) including operating, under-construction and awarded projects catering to investment-grade counterparties.The company develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects.More By This Author:Sensex Today Trades Higher; Amber Enterprises Rallies 7%
Sensex Today Tanks 931 Points; Nifty Ends Below 24,500
Sensex Today Trades Higher; Nifty Above 24,850
