Stock Market Live Update: L&T Share Price Extends Gains As Qatar Tax Authority Anmulls Penalty

In a recent development, Larsen & Toubro Ltd. said that the Qatar Tax Authority annulled Rs 239-Crore tax penalty. The company filed an appeal against this penalty citing arbitrary and unjustified, according to exchange filing.

Stock Market Live Updates: Waaree Energies Share Price Jumps 14%

Waaree Energies Ltd. share price jumped 14% during early trade on Friday after the company reported an impressive third quarter earnings and the manangement announced a Rs 50,000 crore order book.

Nifty, Sensex Open Higher As L&T, Infosys Share Prices Lead: Opening Bell

The NSE Nifty 50 and BSE Sensex opened higher tracking a rise in Larsen & Toubro Ltd. and Infosys Ltd. share prices led. As of 9:16 a.m., the Nifty 50 was 45.90 points or 0.20% higher at 23,295.40, and the Sensex was 158.02 points or 0.21% higher at 76,917.83.

“Expect higher intra-day volatility today as the market braces for the Union Budget announcement. Key sectors to focus on include railways, infrastructure, fertilizers, textiles, electric vehicles (EV), and green energy stocks ahead of tomorrow Union Budget,” said Vikas Jain, head, research, Reliance Securities.

Larsen & Toubro Ltd., Infosys Ltd., Titan Co., Tata Consumer Products Ltd., and Maruti Suzuki India Ltd. added to the Nifty 50 index.

Bharti Airtel Ltd., ICICI Bank Ltd., HDFC Bank Ltd., NTPC Ltd., and Coal India Ltd. weighed on the Nifty 50 index.

On NSE, six sectors advanced and six declined out of 12. The NSE Nifty Metal declined the most, and the NSE Nifty IT advanced the most.

The BSE Midcap and Smallcap indices were trading 0.31% or 0.295 higher, respectively.

On BSE, 16 sectors advanced and five declined out of 21. The BSE Bankex declined the most, while the BSE Industrial rose the most.

Market breadth was skewed in favour of buyers. Around 1,729 stocks advanced, 890 stocks declined, and 118 stocks remained unchanged on BSE.

Stock Market Live Update: Nifty, Sensex Trade Higher At Pre-Open

At pre-open, the NSE Nifty 50 was 0.20% or 47.25 points higher at 23,296.75, and the BSE Sensex was 0.17% or 129.08 points higher at 76,888.89.

Yield On The 10-Year Bond Opens Flat

  • The yield on the 10-year bond opened flat at 6.68%.

  • It closed at 6.68% on Thursday.

Source: Bloomberg

Alert: The inclusion of Indian government bonds in the Bloomberg EM Local Currency Government indices will begin today.

FAR bonds will be included with an initial weight of 10% of their full market value on Jan. 31, 2025.

Rupee Opens Flat Against US Dollar

  • Rupee opened flat at 84.63 against the US dollar.

  • It closed at 86.62 on Thursday.

Source: Bloomberg

Stock Market Live: Citi Research On Navin Fluorine

  • Maintain ‘Buy’ with a target price Rs 4,500, which implied a 15%

  • Ebitda at Rs 147 crore vs estimate of Rs 120 crore

  • Beat driven by higher specialty chemicals and domestic ref gas sales

  • Ramp-up of agro specialty plant, pickup in CDMO and commissioning of new R32 plant augur well

  • Raise FY25e/26e/27e Ebitda by 1%/18%/17% based on 3Q trends

  • Continue to value Navin at 25x Mar’26E EV/EBITDA

Stock Market Live: Jefferies On BEL

  • Maintain Buy with a target price Rs 370, which implied a 34% upside

  • All round beat, guidance intact

  • 3QFY25 EBITDA was 51% above expectations

  • Margin strength gives confidence on profitability sustaining

  • Rs 71,100 crore order book (down 7% YoY), but 3x FY25 revenues

  • Believe exports should rise to 9% of sales byFY30E from 2-3% in FY24

Brokerages On L&T

Jefferies On L&T

  • Maintain Buy; Cut TP to Rs 4500 from Rs 4600

  • Third quarter Ebitda was lower than estimates by 10%, mainly due to L&T’s IT and Finance subsidiaries

  • E&C margins in 3Q impacted likely by revenue recognition in hydrocarbon

  • Commentary highlights bottoming of macro indicators

  • Believe double-digit revenue and Ebitda growth visibility should drive upside

GS On L&T

  • Maintain Buy; Cut TP to Rs 3920 from Rs 3960

  • Third Review: Strong order inflow, margins remain muted

  • To deliver healthy double-digit revenue growth over the medium term

  • As execution mix shifts towards domestic, believe margins should also gradually improve

Asia Market Update: Most Markets Trade Higher 

Markets in Japan and Australia were trading higher on Friday, tracking overnight moves on Wall Street. Meanwhile markets in most countries in the region were closed for lunar holiday.

The Nikkei 225 and S&P ASX 200 were trading 0.07% and 0.34% higher, respectively. The KOSPI was 1.22% down.

US Market Update: Stocks End Higher As Microsoft &Tesla Boosts Investors’ Sentiment 

Share indices on Wall Street ended higher Thursday as Microsoft Corp beat revenue estimates, while Tesla said they are on track to roll out cheaper electric vehicle models.

On Thursday, the Dow Jones Industrial Average and S&P 500 were trading 0.38% and 0.53% higher, respectively. The Nasdaq Composite was 0.25% up.

GIFT Nifty Near 23,400; Ajanta Pharma, Biocon, Container Corp Share Prices In Focus

The GIFT Nifty was trading near 23,400 on Friday. Ajanta Pharma Ltd., Biocon, Container Corp share prices may move due to earnings.

As of 6:32 a.m., the GIFT Nifty was 0.18% or 43 points down at 23,425.00.

The Indian equity benchmark indices closed higher three days in a row, as BEL and Power Grid Corp. stocks led gains.

The NSE Nifty 50 ended 86.40 points, or 0.37% up at 23,249.50, and the 30-stock BSE Sensex ended 226.85 points, or 0.30% higher at 76,759.81.

. Read more on Markets by NDTV Profit.Larsen & Toubro Ltd., and Trent Ltd. share prices were top gainers in Nifty 50. Get live updates on Indian stock markets here on Jan 31.  Read MoreMarkets, Budget, Notifications 

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