Markets at Noon: Nifty and Sensex Dip 0.38% Amid Mixed Corporate News
Indian stock markets are trading lower at midday, with both Nifty 50 and BSE Sensex down 0.38%. Tata Motors reported a consolidated PBT loss due to a cyber incident at JLR, while companies like Tilaknagar Industries, Natco Pharma, and Inox Wind announced positive developments. LIC increased its stake in Exide Industries, and SpiceJet completed a preferential allotment. Several firms, including S.P. Apparels and NBCC, reported strong quarterly results, showcasing a mixed corporate landscape.
*this image is generated using AI for illustrative purposes only.
Market Overview
The Indian stock markets are trading lower at midday, with both benchmark indices showing a decline of 0.38%.
| Index | Current Price | Previous Close | Change | % Change |
|---|---|---|---|---|
| Nifty 50 | 26,091.55 | 26,192.15 | -100.60 | -0.38% |
| BSE Sensex | 85,304.53 | 85,632.68 | -328.15 | -0.38% |
Last updated at 12:00:15 PM.
Buzzing Stocks
Several companies have made headlines with their recent announcements:
1. Tata Motors
- Reported a consolidated PBT loss of Rs 5,500 Cr for Q2, primarily due to a cyber incident at Jaguar Land Rover.
- India passenger vehicle business showed recovery with 15% revenue growth.
2. Tilaknagar Industries
- Approved allotment of 3.77 crore equity shares, raising Rs. 1,080.53 crores.
- Launched Seven Islands Pure Malt Whisky, marking entry into the premium whisky category.
3. Marico Limited
- Allotted 54,074 equity shares to eligible employees under its Employee Stock Option Plan 2016.
4. Life Insurance Corporation of India
- Acquired 262,000 shares of Exide Industries, increasing shareholding from 4.992% to 5.023%.
5. Natco Pharma
- Recorded consolidated revenue of Rs 1,463 crores for Q2 with EBITDA of Rs 679.2 crores.
- Expects to launch Semaglutide in India around March.
6. Inox Wind
- Delivered record quarterly results with revenue of Rs 1,162 crores (up 56% YOY).
- Executed 202 MW in Q2.
7. SpiceJet Limited
- Allotted 104,172,634 equity shares through preferential allotment to nine Ireland-based aviation companies.
8. Brainbees Solutions
- Achieved consolidated PBT positive status.
- 51% year-on-year growth in adjusted EBITDA for Q2.
9. S.P. Apparels
- Reported consolidated revenue of INR 427 crores (9.2% YoY growth).
- PAT of INR 34.7 crores (58.4% YoY growth) for the quarter.
10. NBCC
- Achieved consolidated revenue of INR 3,017 crores in Q2, marking 20% year-on-year growth.
- Standalone PAT surged 40% to INR 173 crores.
Conclusion
The markets are showing a slight downward trend at midday, with both Nifty and Sensex down by 0.38%. Corporate news remains mixed, with some companies reporting strong quarterly results while others face challenges. Investors are likely keeping a close eye on these developments as the trading day progresses.
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