Nomura Keeps ‘Buy’ On JSW Energy 

  • Nomura kept a ‘Buy’ with a target price Rs 885, which implied a 38% upside.

  • Company signed a definitive agreement to acquire O2 Power for INR125bn

  • Portfolio consists of an overall locked-in capacity of 4.7 GW of renewable energy

  • Acquisition at attractive valuations of 7.1x/8.3x EV/EBITDA

  • Blended tariff for the portfolio of 4.7GW is INR3.37/unit, above industry avg

  • Expect the co to derive an equity IRR of 17%

Stock Market Today: KPI Green Energy Gets Order Worth Rs 166 Crore

KP Green Energy Ltd. has received multiple orders worth Rs 166 crore, according to an exchange filing.

IPO Updates: Unimech Aerospace Shares List At 90% Premium Over Issue Price

Shares of Unimech Aerospace And Manufacturing Ltd. debuted on the BSE at Rs 1,491 per share, marking a premium of 89.94% over the issue price of Rs 785. The stock listed on the National Stock Exchange at Rs 1,460 apiece, at a premium of 85.99%.

Stock Market Live Updates: Mazagon Dock Shipbuilders Share Price Rises 

Mazagon Dock Shipbuilders Ltd. share price rebounded from two-day decline briefly in the last session of 2024. The share price recouped losses as Mazagon Dock Shipbuilders signed a contract worth Rs 1,990 crore.

However, Mazagon Dock Shipbuilders share price erased opening gains to trade 1.32% down at Rs 2,239.05 apiece as of 9:52 a.m., as compared to 0.60% decline in the NSE Nifty 50 index.

Stock Market Today: Lupin Share Price Hits Record High As It Will Acquire Huminsulin From Eli Lily

Lupin Ltd. share price rose to record high as the company announced it will acquire Huminsulin from Eli Lily company to enhance its diabetes portfolio.

Stock Market Open: Nifty, Sensex Open Lower As Infosys, ICICI Bank Share Prices Drag

The NSE Nifty 50 and BSE Sensex opened lower on Tuesday tracking losses on Infosys Ltd. and ICICI Bank Ltd. share prices. As of 9:19 a.m., the Nifty 50 was 85.65 points or 0.36% down at 23,559.25, and the Sensex 407.11 points or 0.52% down at 77,841.02.

Infosys Ltd., Tata Consultancy Services Ltd., ICICI Bank Ltd., HDFC Bank Ltd., and HLCTech Ltd. weighed on the Nifty 50 index.

State Bank of India, Oil and Natural Gas Corp, ITC Ltd., Bharat Electronics Ltd., and Coal India Ltd. added to the Nifty 50 index.

On NSE, six sectors declined, five advanced, and one remained unchanged during open. The NSE Nifty IT declined the most, and the NSE Nifty Energy rose the most.

The BSE Midcap and Smallcap indices were trading 0.52% and 0.35% down, respectively.

On BSE, 16 sectors declined, and five advanced out of 21. The BSE Focused IT declined the most, and the BSE Metal rose the most.

Market breadth was slightly skewed towards sellers. Around 1,598 stocks declined, 1,226 stocks advanced, and 135 stocks remained unchanged on BSE.

Stock Market Today: Nifty, Sensex Trade Lower At Pre-Open

At pre-open, the NSE Nifty 50 was 0.36% down at 23,560.60, and the BSE Sensex was 0.34% down at 77,983.57.

Stock Market Live: Yield On The 10-Year Bond Opens Flat

The yield on the 10-year bond opened flat at 6.76%. It closed at 6.77% on Monday, according to Bloomberg.

Stock Market Live: Rupee Opens Weaker Against US Dollar

Rupee weakened by 5 paise to open at 85.59 against the US Dollar. It closed at 85.54 on Monday, according to data on Bloomberg.

Stock Market Today: HSBC On India Power

  • Power demand growth turned positive in Nov- Dec after declining annually in Aug-Oct

  • India’s 11M CY24 power demand normalized at 4.9%

  • Energy storage is becoming even more essential in the sector

  • 2.3GW of renewable capacity added in Nov, 28 GW in 11M CY24

  • No thermal capacity commissioned since Feb’24; multiple plants near completion

Stock Market Live Updates: Mumbai Metro One’s Loan Exposure Aissigned To National ARC

Reliance Infrastructure Ltd. announced in an exchange filing that the joint venture Mumbai Metro One’s rupee loan exposure has been assigned to National ARC by domestic lenders.

Stock Market Today: JPMorgan On Adani Wilmar

  • Rates underweight with a target price of Rs. 320

  • Adani Enterprises Ltd. to fully exit the JV, Wilmar to increase ownership to 75%

  • Divestment of 13% share in Adani Wilmar to achieve compliance with divestment of 13% share

  • Lence Pte ltd (WOS of Adani Wilmar entered into agreement with Adani commodities to acquire 31.06% stake in Adani Wilmar

  • Option price to be mutually agreed upon by the parties, subject to maximum price of Rs. 305

  • Adani Wilmar would acquire stake for Rs. 12,300 crore

Asia Markets Update: Markets In China Decline As Manufacturing Activities Slow

Markets in China were trading lower in the last trading day of 2024 after data showed manufacturing activity did not expand in December. The purchasing manager’s index came in at 50.1, compared to 50.3 in November. Analysts expected the PMI to stay same at the November level.

The CSI 300 and Shanghai Composite indices were trading 0.29% and 0.18% down, respectively.

Markets in Japan and South Korea are closed on Tuesday.

US Market Update: Benchmarks Extend Losses As Treasuries Rise 

US benchmark indices extended losses to a third session as technology stocks continued to weigh after the Federal Reserve reduced rate cut projection for 2025. Moreover, treasuries rallied on Monday, which also weighed on the indices, Bloomberg reported.

On Monday, the Dow Jones Industrial Average and S&P 500 ended 0.97% and 1.07% down, respectively. The Nasdaq Composite ended 1.19% down.

GIFT Nifty Above 23,600; RVNL, Mazagon Dock, Wipro Share Prices In Focus

The GIFT Nifty was trading above 23,600 in early morning on Tuesday. Rail Vikas Nigam Ltd., Mazagon Dock Shipbuilders Ltd., and Wipro Ltd. share prices may react in Tuesday’s session.

The GIFT Nifty was trading 0.20% or 46.50 points down at 23,656.50, as of 7:11 a.m.

The benchmark equity indices eroded early gains in the last leg of the trade to end lower on Monday as HDFC Bank Ltd. and ICICI Bank Ltd. led the losses. Broad-based weakness across Asia and Europe also put pressure on the indices.

The NSE Nifty 50 closed 168.50  points or 0.71% down at 23,644.90 and the BSE Sensex ended 450.94 points or 0.57% lower at 78,248.13.

. Read more on Markets by NDTV Profit.Information technology and financial services stocks weighed on the benchmark indices. Get live updates on Indian stock market here on Dec 31.  Read MoreMarkets, Notifications 

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