Stock Market LIVE: Nifty, Sensex Trade Higher As HDFC Bank, L&T Shares Lead
The Nifty 50 and Sensex were trading 0.60% and 0.94% higher, respectively as of 1:45 p.m. Follow NDTV Profit's blog for latest stock calls from analysts' view, earnings, and share price movements.
KEY HIGHLIGHTS
Nifty 50 Rallies Past 26,000 After A Year — Five Key Reasons Behind The Surge
India's benchmark index, Nifty 50, on Thursday reclaimed the 26,000 mark after over a year, as multiple tailwinds helped boost positive sentiment. The 50-stock index rose for the sixth consecutive session, after reports said India and the United States are close to a trade deal.
The Nifty 50 on Thursday gained as much as 0.9% or 225 points to hit 26,099 intraday. The last time the index was above 26,000 was Sept. 30, 2024. The all-time high of 26,277 was hit on Sept. 27, 2024.
Stock Market LIVE: Midwest IPO Lists Tomorrow, Check Latest GMP
Shares of Midwest Ltd. will debut on the stock market on Friday.
The initial public offering closed with a strong subscription on the last day of bidding on Friday. The mainboard IPO was oversubscribed 87.89 times on the third and final day, with investors bidding for 27,39,83,920 shares against the 31,17,460 shares on offer.
The share allotment status for the Midwest IPO was finalised on October 20. Successful bidders can expect the shares to be credited to their demat accounts on Thursday, October 23.
The unlisted shares of Midwest Limited have been trading at a premium in the grey market, but have shown a declining trend after getting fully subscribed on Day 1. The highest GMP recorded for the IPO was Rs 175.5 on October 15, which then later dropped below Rs 100.
Stock Market LIVE: Hindalco's $125-Million Acquisition In US Stalls
Hindalco Industries' plan to acquire US-based AluChem Companies Inc. in an all-cash deal valued at $125 million or Rs 1,075 crore has been stalled.
The company said the US federal government shutdown began on October 1 and statutory deadlines under the regulatory review framework have been tolled. "Once the shutdown concludes and CFIUS formally accepts the final filing for review, the process may take up to approximately 105 days to complete. The Company will provide further updates upon completion of the review."
Q2 Results Live Update: Vardhaman Textiles Share Price Falls From Day's High After Reporting Decline In Net Profit
Vardhman Textiles Q2 Highlights (Consolidated, YoY)
Revenue down 1% to Rs 2,480 crore versus Rs 2,502 crore.
Ebitda up 6% to Rs 334 crore versus Rs 315 crore.
Margin at 13.47% versus 12.59%.
Net profit down 5% to Rs 187 crore versus Rs 197 crore.
Stock Market LIVE: Pace Digitek Gets Order Worth Rs 1,159 Crore from SECI
Pace Digitek received order worth Rs 1,159 crore order from SECI for BESS supply for 600 megawatt and 1,200 megawatt services, the company said in the exchange filing.
F&O: Nifty Monthly Futures Rise
The NSE Nifty October Futures rose 0.95% to 26,162, with a premium of 71 points as of 12:45 p.m.
The Nifty Oct 28 Expiry: Most Call Open Interests are concentrated on 27,000 strike, while most Put OIs are seen at 26,000.
