Closing Bell: Nifty around 25,050, Sensex sheds 386 pts; FMCG outperforms

Indian equity indices ended on a weak note with Nifty at 25,050 on September 24. At close, the Sensex was down 386.47 points or 0.47 percent at 81,715.63, and the Nifty was down 112.60 points or 0.45 percent at 25,056.90.

We wrap up today's edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

Nifty fell for the fourth consecutive session with a fall of 112 points or 0.45%, to close at 25056. It turned out to be a volatile session for Nifty where both side swings were registered during the day with bears holding dominance at the end.

Powergrid, Hindustan Uniliver, and NTPC emerged as the top gainers within the Nifty pack. On the flip side, it was a tough session for Tata Motors, BEL, and Jio Finance, which ended as the major losers. Cash market turnover on the NSE was lower by 10% compared to yesterday.

The rupee emerged as the strongest performer among Asian currencies. It gained ground in the final hours of trading and closed higher by 6 paise against the greenback, driven by expected dollar sales from domestic banks.

Sectoral performance reflected the overall weak sentiment, with all indices ending in the red, with the sole exception of Nifty FMCG. The sectors that faced the most significant losses were Realty, Auto, and Private Banks.

The broader market indices continued profit booking for the third day in the row. The Nifty Midcap 100 Index fell by 1%, while the Nifty Smallcap 100 Index fell 0.70%. Market breadth remained weak for the third day in the row, with declining shares outnumbering advancing ones, as reflected in a BSE advance-decline ratio of 0.62.

Nifty tested 20 DEMA support of 25042 during the session and managed to close slightly above the same. Sustainable level below 20 DEMA could drag index towards the next support of 24926, derived from 50% retracement of the entire rally seen from 24404 (29 Aug 2025 Swing Bottom) to 25448(18th Sep 2025 Swing Top). On the upsides 25150 and 25262 could offer resistance in the Nifty.

Today, Indian market closed sharply lower, with the Sensex falling 386 points (0.47%) to 81,715 and the Nifty 50 dipping 112 points (0.45%) to 25,056. The overall market sentiment was weighed down by persistent foreign fund outflows amid concerns over India-US trade relations, specifically the rising uncertainty around the H1B visa issue and tariff discussions.

Sectorally, major losses were seen in realty, information technology, and auto stocks, with significant declines from Tata Motors, Tech Mahindra, Bharat Electronics, and Hero MotoCorp. Broader indices like the midcap and smallcap indices also ended in the red. Market participants appeared cautious due to the overhang of geopolitical tensions and traderelated worries, which offset optimism from GST rationalization and a positive monsoon, both considered growth supportive.

Although India’s Q1 GDP growth surprised positively at 7.8%, concerns over global macro headwinds including a slowdown in private sector growth and moderating manufacturing and service activity weighed on risk appetite. The Indian rupee closed marginally higher but remained under pressure around 88.69 per dollar, reflecting external uncertainties.

Looking ahead, market expectations remain mixed. We expect some near term consolidation amid cautious trading as the US Federal Reserve's stance and India-US trade negotiations evolve. Positive triggers may come from upcoming corporate earnings that are expected to show improvement in the next one or two quarters. Meanwhile, sustained policy reforms, government capex, and a resilient domestic consumption framework are expected to provide a longer-term positive backdrop for the market.

Indian benchmark indices Nifty and Sensex closed lower on Wednesday, extending a four-day losing streak. Worries over US H-1B visa rules and Federal Reserve Chair Jerome Powell’s commentary on high equity valuations weighed heavily on the market sentiment.

Nifty witnessed a volatile session, opening on a weak note and extending its decline to 25,027. However, buyers emerged from lower levels, helping the index stage a recovery until 25,142 before another round of selling pressure dragged the Index lower. Nifty, eventually settled at 25,057, down 0.45%.

In the sectoral space, CPSE and FMCG Index were the only sectors to end in green, with both ending around 0.20% higher. On the flip side, Nifty Realty and Capital Market Index ended as top sectoral losers. Powergrid and Hindustan Unilever were the top gainers, while Tata Motors and BEL emerged as the top two losers.

Talking about the broader markets, both Midcap 100 and Smallcap 100, underperformed the frontline indices. The Midcap 100 Index & Small cap 100 Index ended 0.98% and 0.67% lower respectively. The advance-decline ratio was heavily skewed in the favour of the bears with 344 stocks out of the Nifty 500 closing in the red, indicating that the selling was not limited to key heavyweights but across the board.

Nifty View

The day’s action resulted in a doji candle with minor shadows on both ends, reflecting indecision in the market after the recent throwback. Importantly, the index took support from the 38.2% Fibonacci retracement 25,045–25,050 zone of its prior up move (24405-25449). This zone also aligns with the 20-day EMA – making this cluster a strong near-term support.

On the indicator front, the RSI has moved down sharply from 68 on September 18 to around 52 today, highlighting weakening bullish momentum. The ADX setup shows DI+ trending lower while DI– is inching higher, with lines converging – an early sign of a possible momentum shift. The Bollinger Bands indicate price slipping from the upper band toward the middle band, suggesting consolidation. That said, Nifty remains above its 20, 50, 100, and 200-day EMAs, keeping the broader uptrend structure intact.

Looking at key levels, the 25,050–25,000 zone will act as an immediate support. A sustained move below 25,000 can lead to the throwback extending further in the Index towards 24,800. On the upside, the zone of 25,150-25,200 is likely to act as an immediate resistance. Any follow through buying above this zone can lead to resumption of uptrend in the Index.

Bank Nifty View

Bank Nifty has been relatively outperforming the Nifty as reflected in the gradually rising ratio line. However, in the first two days of the week, the index struggled to clear the stiff resistance zone around 55,660–55,670, leading to a corrective bias.

Today, the index slipped 0.70% and closed at 55,122. With today’s closing, Index broke below the 50-day EMA zone of 55,190–55,200, which acted as a strong support in the previous two days.

Momentum indicators are showing signs of fatigue. The RSI has eased from 63 on September 18 to around 51, suggesting a moderation in bullish strength. Meanwhile, the ADX setup reflects a declining DI+ and a rising DI–, pointing to weakening momentum. The Bollinger Bands also indicate price gravitating back toward the middle band, hinting at consolidation. Strong selling pressure from heavyweights like HDFC Bank and ICICI Bank, weighed on sentiment.

Looking at key levels, the 55,100–55,000 zone will act as an immediate support. A sustained move below 55,000 can lead to the throwback extending further in the Index towards 54,500. On the upside, the zone of 55,500-55,600 is likely to act as an immediate resistance. Any follow through buying above this zone can lead to resumption of uptrend in the Index.

The downside momentum continued in the market for the fourth consecutive sessions on Wednesday and Nifty closed the day lower by 112 points. After opening on a weak note, the market showed volatility of intraday up and down swings for the better part of the session. An attempt of recovery of mid part has faltered and Nifty closed at the lows.

A reasonable bear candle was formed on the daily chart with minor upper and lower shadow. Technically, this market action indicates weakness in the market with volatility. Though, Nifty placed at the lows of 4 days decline, still there is no indication of any reversal pattern forming at the lows.

The short-term trend of the market continues to be negative. Nifty is now sliding down to the crucial lower support of 24900 levels (ascending trend line and 10week EMA) as per weekly chart. Immediate resistance is placed at 25150.

The Indian rupee gained ground in the final hours of trading, driven by expected dollar sales from domestic banks. The rupee emerged as the strongest performer among Asian currencies, recovering from Tuesday's underperformance. However, the overall outlook for the rupee remains weak. For the near term, we see resistance for the USD/INR at 89.10 and 88.80, with a support level at 88.20.

Profit booking has been observed in Indian markets post-GST reforms, as investors recalibrate valuations and Q2 earnings expectations. IT stocks underperformed due to H-1B fee hikes, while US trade rhetoric amid ongoing trade negotiations and weak global cues are prompting cautious investor sentiment.

India’s relatively high valuations, coupled with moderation in earnings growth, continue to lead FIIs to trim their positions. That said, structural reforms and domestic growth drivers are keeping the underlying trend constructive. Current headwinds appear transitory, with headwinds likely to ease over time.

Indian rupee ended marginally higher at 88.69 per dollar on Wednesday versus previous close of 88.75.

Indian equity indices ended on a weak note with Nifty at 25,050 on September 24.

At close, the Sensex was down 386.47 points or 0.47 percent at 81,715.63, and the Nifty was down 112.60 points or 0.45 percent at 25,056.90. About 1535 shares advanced, 2445 shares declined, and 143 shares unchanged.

Biggest Nifty losers were Tata Motors, Wipro, Bharat Electronics, Jio Financial, Hero MotoCorp, while gainers included HUL, Nestle, NTPC, JSW Steel, Power Grid.

Except FMCG, all other sectoral indices ended in the red with auto, IT, media, metal, oil & gas, realty down 0.5-2%.

BSE midcap index shed nearly 0.9% and smallcap index was down 0.5%.

QIB – 0.02 times

NII - 4.89 times

Retail – 12.38 times

Overall – 3.59 times

QIB – 1.12 times

NII - 5.37 times

Retail – 2.57 times

Employee Reserved - 3.46 times

Overall – 2.82 times

PB Fintech was quoting at Rs 1,736.30, down Rs 65.45, or 3.63 percent.

It has touched an intraday high of Rs 1,803.20 and an intraday low of Rs 1,682.45.

It was trading with volumes of 54,986 shares, compared to its five day average of 20,945 shares, an increase of 162.53 percent.

In the previous trading session, the share closed up 0.22 percent or Rs 4.00 at Rs 1,801.75.

The share touched a 52-week high of Rs 2,254.95 and a 52-week low of Rs 1,312.10 on 06 January, 2025 and 17 March, 2025, respectively.

Currently, the stock is trading 23 percent below its 52-week high and 32.33 percent above its 52-week low.

Market capitalisation stands at Rs 79,749.54 crore.

QIB – 0.02 times

NII - 1.48 times

Retail – 1.20 times

Employee Reserved - 1.68 times

Overall – 0.94 times

Penna Cement Industrie, a subsidiary of the company has successfully commissioned 2 Million Ton Per Annum (MTPA) brownfield expansion of Cement Grinding Unit in Krishnapatnam, Andhra Pradesh. With commissioning of this Cement Grinding Unit, Ambuja Cement’s Consolidated Cement Capacity has increased to 106.45 MTPA.

#1 Cabinet approves Rs 3,822 crore for four-laning of Sahebganj-Bettiah highway

#2 Cabinet approves Rs 1,866 crore for railway productivity-linked bonus

#3 Cabinet approves Rs 2,192 crore for Bakhtiyarpur-Rajgir-Tilaiya railway project

#4 Cabinet approves Rs 15,034 crore for expanding medical education

#5 Cabinet approves Rs 69,725 crore plan for shipbuilding & maritime development

Canara Bank was quoting at Rs 122.95, up Rs 1.05, or 0.86 percent.

It has touched a 52-week high of Rs 124.60.

It has touched an intraday high of Rs 124.60 and an intraday low of Rs 122.35.

It was trading with volumes of 4,885,540 shares, compared to its five day average of 3,126,402 shares, an increase of 56.27 percent.

In the previous trading session, the share closed up 2.57 percent or Rs 3.05 at Rs 121.90.

Market capitalisation stands at Rs 111,523.66 crore.

The Sensex was down 357.34 points or 0.44 percent at 81,744.76, and the Nifty was down 105.75 points or 0.42 percent at 25,063.75. About 1390 shares advanced, 2349 shares declined, and 128 shares unchanged.

QIB – 95.51 times

NII - 45.40 times

Retail – 8.43 times

Employee Reserved - 2.89 times

Overall – 40.30 times

QIB – 2.94 times

NII - 3.54 times

Retail – 0.79 times

Employee Reserved - 1.78 times

Overall – 1.98 times

The company also revised completion schedule for Mumbai-Nagpur-Jharsuguda pipeline (MNJPL) project from 30th September 2025 to 31st December 2025 progressively.

GAIL India was quoting at Rs 175.95, down Rs 2.75, or 1.54 percent.

It has touched an intraday high of Rs 179.05 and an intraday low of Rs 175.70.

It was trading with volumes of 3,504,208 shares, compared to its five day average of 381,401 shares, an increase of 818.77 percent.

In the previous trading session, the share closed down 1.27 percent or Rs 2.30 at Rs 178.70.

The share touched a 52-week high of Rs 245.10 and a 52-week low of Rs 150.60 on 30 September, 2024 and 04 March, 2025, respectively.

Currently, the stock is trading 28.21 percent below its 52-week high and 16.83 percent above its 52-week low.

Market capitalisation stands at Rs 115,688.88 crore.

Olectra Greentech was quoting at Rs 1,645.40, down Rs 25.10, or 1.50 percent.

It has touched an intraday high of Rs 1,669 and an intraday low of Rs 1,635.75.

It was trading with volumes of 23,401 shares, compared to its five day average of 64,351 shares, a decrease of -63.64 percent.

In the previous trading session, the share closed up 0.51 percent or Rs 8.40 at Rs 1,670.50.

The share touched a 52-week high of Rs 1,786.65 and a 52-week low of Rs 973.65 on 15 October, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 7.91 percent below its 52-week high and 68.99 percent above its 52-week low.

Market capitalisation stands at Rs 13,505.56 crore.

Venwind Refex Power, a subsidiary of the company, has signed a term sheet for supply of WTGs and Tubular Towers for wind power projects, for an aggregate contract value of Rs 474.45 crore, with a leading Independent Power Producer, to be set-up in the State of Gujarat.

Refex Industries was quoting at Rs 401.00, up Rs 9.85, or 2.52 percent.

It has touched an intraday high of Rs 415.60 and an intraday low of Rs 380.10.

It was trading with volumes of 457,631 shares, compared to its five day average of 37,162 shares, an increase of 1,131.45 percent.

In the previous trading session, the share closed up 15.71 percent or Rs 53.10 at Rs 391.15.

The share touched a 52-week high of Rs 600.00 and a 52-week low of Rs 334.10 on 30 September, 2024 and 09 September, 2025, respectively.

Currently, the stock is trading 33.17 percent below its 52-week high and 20.02 percent above its 52-week low.

Market capitalisation stands at Rs 5,184.15 crore.

#1 Target Rs 17,500 crore revenue, Rs 2,100 crore EBITDA, CAGR of 28-30 percent for FY25-30

#2 Growth from existing business, premiumisation & exports

#3 Premiumisation led by smart access, cockpit electronics & EV harness

#4 PV revenue share to rise to 25 percent, 2/3Ws & CV shares to decline

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The Sensex was down 244.07 points or 0.30 percent at 81,858.03, and the Nifty was down 54.25 points or 0.22 percent at 25,115.25. About 1512 shares advanced, 2195 shares declined, and 121 shares unchanged.

QIB – 0.51 times

NII - 0.05 times

Retail – 0.34 times

Overall – 0.35 times

QIB – 0.08 times

NII - 0.01 times

Retail – 0.09 times

Overall – 0.08 times

QIB – 0.00 times

NII - 0.07 times

Retail – 0.18 times

Overall – 0.10 times

QIB – 0.01 times

NII - 3.52 times

Retail – 10.00 times

Overall – 2.78 times

#1 Swiggy board approves Rs 2,400 crore sale in Rapido

#2 Strengthens balance sheet, in-line with management commentary

#3 Board approves transfer of Instamart business

#4 Transfer of Instamart bisiness to wholly owned step-down subsidiary on slump sale basis

#5 Move aims to create focussed entity for quick commerce

#1 Post CEO & CFO appointment, focus on filling ED positions

#2 Forward flows (especially MFI) to keep slippages elevated, stabilisation expected in H2

#3 Credit cost depends on timing of accelerated write-off

#4 Weak vehicle finance demand, MFI run-down offset by other retail growth & corporate resumption

#5 Rebuilding fee income key after reset to low base in Q1

#6 Efforts to curtail opex growth, H2 costs expected below H1

#7 RoA/RoE reset lower to 0.5 percent/4 percent

Jupiter Wagons was quoting at Rs 327.85, down Rs 3.30, or 1.00 percent.

It has touched an intraday high of Rs 332.40 and an intraday low of Rs 325.60.

It was trading with volumes of 63,356 shares, compared to its five day average of 86,944 shares, a decrease of -27.13 percent.

In the previous trading session, the share closed down 0.78 percent or Rs 2.60 at Rs 331.15.

The share touched a 52-week high of Rs 588.00 and a 52-week low of Rs 270.20 on 12 December, 2024 and 03 March, 2025, respectively.

Currently, the stock is trading 44.24 percent below its 52-week high and 21.34 percent above its 52-week low.

Market capitalisation stands at Rs 13,917.17 crore.

QIB – 0.02 times

NII - 3.87 times

Retail – 2.18 times

Employee Reserved - 3.13 times

Overall – 1.96 times

#1 Limited upside after recent rally

#2 Mix shift to higher tonnage & margin improvement already priced in

#3 Expect car volume growth to outpace CV over next 12 months

#4 Replacement demand pickup due to aging fleet

#5 Demand boost from consumption-driven sectors

#6 Better-than-expected LCV volume, including new Saathi light trucks

The company has acquired 11.95 lakh equity shares (49% stake) of Newzone India (NZIPL) and 30 lakh equity shares (100% stake) of Newzone Power Projects (NZPPPL), the holding company of NZIPL, from the Sarawagi Family and related HUFs for Rs 211 crore. NZPPPL already holds a 51% stake in NZIPL.

Torrent Power was quoting at Rs 1,275.20, down Rs 4.00, or 0.31 percent.

It has touched an intraday high of Rs 1,290.05 and an intraday low of Rs 1,268.45.

It was trading with volumes of 10,297 shares, compared to its five day average of 100,913 shares, a decrease of -89.80 percent.

In the previous trading session, the share closed up 0.84 percent or Rs 10.65 at Rs 1,279.20.

The share touched a 52-week high of Rs 2,037.35 and a 52-week low of Rs 1,207.20 on 22 October, 2024 and 17 February, 2025, respectively.

Currently, the stock is trading 37.41 percent below its 52-week high and 5.63 percent above its 52-week low.

Market capitalisation stands at Rs 64,257.78 crore.

QIB – 0.01 times

NII - 1.11 times

Retail – 1.02 times

Employee Reserved - 1.63 times

Overall – 0.77 times

ideaForge Technology Inc. (IF), a wholly owned subsidiary of ideaForge Technology has entered into a joint venture agreement with First Breach Inc. (FB), pursuant to which IF and FB propose to set up a Joint Venture to undertake the business of licensing, sourcing, designing, engineering, manufacture and distribution of specific IF UAVs in the United States of America and such other business activities as may be mutually agreed in writing between IF and FB.

Jaro Institute of Technology Management and Research IPO subscribed at 1.36 times at 1 PM (Day 2)

QIB – 0.47 times

NII - 2.51 times

Retail – 1.38 times

Overall – 1.36 times

Infosys announced the expansion of its strategic long-term collaboration with Sunrise, Switzerland's leading challenger, with a strong number two position in the Swiss telecommunications market, to accelerate its IT transformation.

Infosys was quoting at Rs 1,489.00, down Rs 8.75, or 0.58 percent.

It has touched an intraday high of Rs 1,496.55 and an intraday low of Rs 1,483.10.

It was trading with volumes of 102,529 shares, compared to its five day average of 391,724 shares, a decrease of -73.83 percent.

In the previous trading session, the share closed down 0.16 percent or Rs 2.35 at Rs 1,497.75.

The share touched a 52-week high of Rs 2,006.80 and a 52-week low of Rs 1,307.10 on 13 December, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 25.8 percent below its 52-week high and 13.92 percent above its 52-week low.

Market capitalisation stands at Rs 618,589.00 crore.

Tech Mahindra London Limited, UK (TMLL), a wholly-owned subsidiary of Tech Mahindra has approved and executed a share transfer agreement for divestment of its entire stake of 26.42% of the paid-up share capital of Surance, associate company of TMLL and the company.

Tech Mahindra was quoting at Rs 1,453.50, down Rs 18.40, or 1.25 percent.

It has touched an intraday high of Rs 1,470.05 and an intraday low of Rs 1,439.50.

It was trading with volumes of 44,812 shares, compared to its five day average of 58,217 shares, a decrease of -23.03 percent.

In the previous trading session, the share closed down 2.15 percent or Rs 32.30 at Rs 1,471.90.

The share touched a 52-week high of Rs 1,807.40 and a 52-week low of Rs 1,209.70 on 12 December, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 19.58 percent below its 52-week high and 20.15 percent above its 52-week low.

Market capitalisation stands at Rs 142,379.38 crore.

The Sensex was down 209.39 points or 0.26 percent at 81,892.71, and the Nifty was down 50.30 points or 0.20 percent at 25,119.20. About 1501 shares advanced, 2159 shares declined, and 132 shares unchanged.

#1 Company’s renewable energy (RE) growth plans have solidified

#2 Aims to double PAT to Rs 2,800 crore over FY25–30

#3 1.2/3.2 GW RE addition by FY27-29, 10 GW target by FY32

#4 3.8 GW approved, 7.6 GW transmission connectivity applied in high RE states

#5 New solar manufacturing initiative (3 GW cell & module) CoD by FY28

#6 CMP reflects tariff hikes & RA recovery but valuations underplay strong RE pipeline

#7 Potential UP discom win could add a new growth optionality

QIB – 5.78 times

NII - 23.38 times

Retail – 6.01 times

Employee Reserved - 2.42 times

Overall – 9.61 times

QIB – 0.71 times

NII - 1.45 times

Retail – 0.67 times

Employee Reserved - 1.62 times

Overall – 0.85 times

QIB – 0.71 times

NII - 1.45 times

Retail – 0.67 times

Employee Reserved - 1.62 times

Overall – 0.85 times

Indian rupee is trading flat at 88.74 per dollar versus previous close of 88.75.

The Board has approved the acquisition of the ‘Morphy Richards’ brand and related intellectual property rights for Rs 146 crore in the territories of India, Nepal, Bhutan, Bangladesh, the Maldives, and Sri Lanka, from Glen Electric (part of the Glen Dimplex Group, Ireland).

Ceinsys Tech has received a Letter of Award (LoA) from the Mumbai Metropolitan Region Development Authority (MMRDA) for the appointment of an agency for upgradation and procurement of ESRI ArcGIS Software Products Enterprise Agreement.

The order, worth Rs 15.95 crore, is for 4 years, including license delivery and operation & maintenance support after license activation.

#1 Profit soars 87% to Rs 55 crore Vs Rs 29.4 crore, YoY

#2 Revenue zooms 296% to Rs 2,506.9 crore Vs Rs 633.6 crore, YoY

#1 Potential entry-level car market pickup post GST cuts & price changes

#2 New model launches resuming (Victoris SUV + eVitara) after 2.5 years

#3 Favourable position in upcoming auto demand cycle

#4 Lower CO2 risk vs peers ahead of corporate average fuel efficiency norms 3 regime in FY28

#5 Expected volume growth: +5 percent/+12 percent/+9 percent In FY26/FY27/FY28 vs industry’s +4 percent/+8 percent/+9 percent

#6 Raised FY26–FY28 EPS estimates by up to 12 percent

#1 Swiggy monetises Rapido investment to raise Rs 2,400 crore

#2 Restructures ownership in Instamart (quick commerce) business

#3 Move prepares Instamart to own inventory post IOCC status

#4 Swiggy to qualify as Indian owned & controlled once local stake exceeds 51 percent

QIB – 0.00 times

NII - 0.03 times

Retail – 0.23 times

Overall – 0.05 times

QIB – 0.00 times

NII - 0.00 times

Retail – 0.07 times

Overall – 0.06 times

QIB – 0.00 times

NII - 0.04 times

Retail – 0.12 times

Overall – 0.07 times

Reliance Consumer Products Ltd (RCPL), the FMCG arm of Reliance Retail, will set up an integrated manufacturing facility in Tamil Nadu with an investment of Rs 1,156 crore. The unit will come up on 60 acres at SIPCOT Allikulam Industrial Park in Thoothukudi district.

The proposed facility will be a multi-product hub, catering to categories such as regional snacks, biscuits, spices, atta, edible oils and other food staples. Read More

QIB – 0.01 times

NII - 2.68 times

Retail – 8.24 times

Overall – 2.23 times

The Sensex was down 372.91 points or 0.45 percent at 81,729.19, and the Nifty was down 93.30 points or 0.37 percent at 25,076.20. About 1443 shares advanced, 2148 shares declined, and 151 shares unchanged.

QIB – 0.02 times

NII - 3.13 times

Retail – 1.86 times

Employee Reserved - 2.91 times

Overall – 1.63 times

QIB – 0.01 times

NII - 0.93 times

Retail – 0.89 times

Employee Reserved - 1.57 times

Overall – 0.67 times

Listing of VMS TMT Ltd. at a modest 6% premium over the IPO price indicates a good and not exuberant listing, especially vis-a-vis ultra high subscription figures of over 102 times. The issue forming entirely as a fresh issue and intended towards funds for debt reduction and general corporate purposes is a good sign as this strengthens the balance sheet and enhances financial flexibility.

In the post-listing phase, the approach of the company should continue as one of demonstration of steady growth of revenue as well as profitability through proper use of IPO funds. Stressing debt reduction initiatives will also become crucial in mobilizing investor confidence as a lean and improved balance sheet increases return ratios.

Other than that, expansion of distribution network beyond Gujarat and strengthening of dominance positions at the ultra-competitive TMT bar segment can become a long-term growth driver.

Investor may remain a wait-and-watch with the stock performance likely being a function of how quickly the VMS TMT achieves operational efficiency and increases marketplace dominance.

QIB – 0.47 times

NII - 2.26 times

Retail – 1.17 times

Overall – 1.20 times

QIB – 1.51 times

NII - 15.22 times

Retail – 5.00 times

Employee Reserved - 2.14 times

Overall – 6.19 times

The VMS TMT ultimately listed at a 6% premium around ₹105 on versus the issue price of Rs 99.

VMS TMT is in the steel/metal sector, manufacturing Thermo Mechanically Treated (TMT) bars (used for construction). Its operations are heavily concentrated in Gujarat. In recent years, over 98% of its revenue came from Gujarat.

The business is in a cyclical, capital-intensive sector with significant leverage and concentrated geography.

The listing provides moderate upside but also exposure to downside risk.

Investor may consider booking partial profits early and Hold the remainder with a stop-loss of Rs 90.

QIB – 0.71 times

NII - 0.58 times

Retail – 0.60 times

Employee Reserved - 1.43 times

Overall – 0.63 times

The global technology company has renewed its long-standing digital transformation agreement with the Sweden-based commercial vehicle manufacturer, for AI-powered digital foundation services.

HCL Technologies was quoting at Rs 1,441.25, up Rs 11.45, or 0.80 percent.

It has touched an intraday high of Rs 1,444.00 and an intraday low of Rs 1,420.10.

It was trading with volumes of 34,758 shares, compared to its five day average of 88,985 shares, a decrease of -60.94 percent.

In the previous trading session, the share closed down 0.74 percent or Rs 10.60 at Rs 1,429.80.

The share touched a 52-week high of Rs 2,011.00 and a 52-week low of Rs 1,304.00 on 13 January, 2025 and 07 April, 2025, respectively.

Currently, the stock is trading 28.33 percent below its 52-week high and 10.53 percent above its 52-week low.

Market capitalisation stands at Rs 391,106.98 crore.

The company, through DBL-PSP JV, has been declared as L-1 bidder for the project worth Rs 1,115.37 crore by the Kerala Industrial Corridor Development Corporation. The project involves design, construction, testing, commissioning, and operation & maintenance of infrastructure works at Pudussery Central & Kannambra of Palakkad Node in Kerala on an EPC basis.

The Sensex was down 344.46 points or 0.42 percent at 81,757.64, and the Nifty was down 97.25 points or 0.39 percent at 25,072.25. About 1550 shares advanced, 1919 shares declined, and 156 shares unchanged.

The Board has approved the acquisition of the ‘Morphy Richards’ brand and related intellectual property rights for Rs 146 crore in the territories of India, Nepal, Bhutan, Bangladesh, the Maldives, and Sri Lanka, from Glen Electric (part of the Glen Dimplex Group, Ireland).

Bajaj Electricals was quoting at Rs 620.10, up Rs 43.15, or 7.48 percent.

It has touched an intraday high of Rs 653.60 and an intraday low of Rs 603.05.

It was trading with volumes of 762,333 shares, compared to its five day average of 10,238 shares, an increase of 7,346.40 percent.

In the previous trading session, the share closed down 1 percent or Rs 5.85 at Rs 576.95.

The share touched a 52-week high of Rs 991 and a 52-week low of Rs 487.60 on 30 September, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 37.43 percent below its 52-week high and 27.17 percent above its 52-week low.

Market capitalisation stands at Rs 7,154.10 crore.

Deepak Rastogi has resigned as Group CFO and Key Managerial Personnel of the company, effective September 23.

Further, Niraj Kumar Gautam has been elevated from the position of Deputy CFO to CFO of the company, effective September 24.

#1 Swiggy board approves Rs 2,400 crore sale in Rapido

#2 Strengthens balance sheet, in-line with management commentary

#3 Board approves transfer of Instamart business

#4 Transfer of Instamart bisiness to wholly owned step-down subsidiary on slump sale basis

#5 Move aims to create focussed entity for quick commerce

Neetu Kashiramka has resigned as Managing Director (MD) of the company, effective September 23, and will continue in the employment of the company until October 31, 2025.

However, the Board has appointed Atul Jain as MD, effective September 23, for a period of 5 consecutive years.

VIP Industries was quoting at Rs 442.50, up Rs 3.70, or 0.84 percent.

It has touched an intraday high of Rs 451.95 and an intraday low of Rs 441.55.

It was trading with volumes of 10,678 shares, compared to its five day average of 53,514 shares, a decrease of -80.05 percent.

In the previous trading session, the share closed down 2.06 percent or Rs 9.25 at Rs 438.80.

The share touched a 52-week high of Rs 580.60 and a 52-week low of Rs 248.55 on 25 September, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 23.79 percent below its 52-week high and 78.03 percent above its 52-week low.

Market capitalisation stands at Rs 6,285.48 crore.