Stock Market Today: GIFT Nifty on the NSE IX increased by 65 points, or 0.30 percent, at 21,619, indicating that Dalal Street was going to have a successful start to the week. On the daily charts, the Nifty finished the day 101 points lower and formed a little negative candle with a slight lower shadow, suggesting a sell-on-rise opportunity in the market on the monthly F&O expiry. Monday saw a 1% increase in oil prices due to worries about gasoline supply following a missile strike on a petroleum ship operated by Trafigura in the Red Sea. Additionally, Russian exports of refined products are expected to decline as numerous refineries are undergoing repairs following drone attacks.
Stock Market Today: Stocks in focus
Adani Enterprises
A deal has been reached between Adani Power and AdaniConnex (ACX), the company’s joint venture, to purchase a 100 percent equity position in two of Adani Power’s wholly owned subsidiaries, Aviceda Infra Park (for Rs 190 crore) and Innovant Buildwell (for Rs 350 crore). It is anticipated that both deals will be finished by March 31, 2024.
HDFC Bank
The purchase of up to 9.99 percent of HDFC Bank by Life Insurance Corporation of India has received approval from the Reserve Bank of India (RBI). The RBI has advised LIC to purchase the aforementioned majority stake in HDFC Bank by January 24, 2025, or within a year.
Tata Technologies
For the quarter that concluded in December of FY24, the worldwide engineering services company’s consolidated earnings increased by 14.7 percent year over year to Rs 170.22 crore. In comparison to the same period last year, revenue from operations increased by 14.7 percent to Rs 1,289.5 crore, and overall operational revenues increased 13.4 percent YoY to $154.8 million in US dollars. At $120.2 million, the services segment’s revenues increased 8.3 percent year over year and 5.8 percent year over year in constant currency.
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