Sensex Today Ends 329 Points Higher | Nifty Tops 22,200 | Cochin Shipyard Rallies 12%

Tue, 14 May Closing

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After opening the day marginally higher, Indian share markets continued the momentum as the session progressed and ended the day higher.

Indian benchmark indices rose for a third day on Tuesday, driven by auto, metal, and banking shares.

At the closing bell, the BSE Sensex stood higher by 329 points (up 0.5%).

Meanwhile, the NSE Nifty closed higher by 119 points (up 0.5%).

Adani Enterprises, M&M and L&T were among the top gainers today.

Cipla, TCS and Nestle on the other hand, were among the top losers today.

The GIFT Nifty was trading at 22,307, up by 140 points, at the time of writing.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list

The BSE MidCap index ended 1.1% higher and BSE SmallCap index ended 1.8% higher.

Sectoral indices are trading mixed with socks in metal sector, telecom sector and power sector witnessing most buying. Meanwhile stocks in FMCG sector and healthcare sector witnessed selling pressure.

Shares of Bosch, ABB India and Eicher Motors hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at 83.51 against the US$.

Gold prices for the latest contract on MCX are trading 0.3% higher at Rs 72,061 per 10 grams.

Meanwhile, silver prices were trading 0.5% higher at Rs 85,342 per 1 kg.

Speaking of stock market, the prospects of pharma stocks globally are tied to what is called the patent lifecycle of drugs.

The last phase of this lifecycle in the US generics market is known as 'Patent Cliff'. This is when products go off-patent i.e. they lose the regulatory exclusivity on selling a particular drug.

After this phase the drugs become 'generics', a category that Indian pharma companies have developed expertise in.

Drug makers in India have been making generic versions of the off-patent drugs for decades, at a fraction of the cost.

Tanushree Banerjee, Research Analyst at Equitymaster talks about what is new upside now in her latest video.

Why Zomato Share Price is Falling

In news from the e-commerce sector, shares of Zomato extended losses on 14 May, falling up to 6% in morning deals as the company's costs on account of its employee stock ownership plan are expected to rise soon.

Costs incurred under the ESOPs are non-cash expenses and are likely to increase in the ongoing fiscal on account of the grant of ESOPs to the Blinkit leadership team and senior employees.

On 13 May, Zomato reported a net profit of Rs 1.8 bn for the January-March (Q4FY24) period, compared to a net loss of Rs 1.9 bn during the same quarter last year. Its revenue rose 73% YoY to Rs 35.6 bn.

The online food aggregator has also sought shareholder approval for a fresh employee stock option plan (ESOP) of 182 m shares of the company that are cumulatively worth over Rs 35 bn at current market value. After a new ESOP plan is approved, it is typically granted to employees over a few years.

This ESOP pool should be sufficient for the next 5 years and amounts to 2% of the company's outstanding share capital on a fully diluted basis.

Zomato's ESOP cost almost doubled to Rs 1.6 bn in the March quarter, compared to Rs 840 m in the year-ago period. Zomato management expects the ESOP charge to increase further in FY25.

For more, check out our recent editorial Zomato: Long-Term Investment or Short-Term Gamble?

Discover: How to Grow Your Wealth in a Stress-Free Way

Ethos Jumps 9%

Moving on to news from the retailing sector, shares of luxury watch player Ethos soared over 9% to Rs 2,324 on 14 May after it reported an upbeat January-March quarter (Q4FY24) performance.

So far this year, Ethos has surged over 18%, outpacing the benchmark Nifty 50 that rose 2%. The company's shares had hit a 52-week high of Rs 3,040 per share on 11 March 2024.

Ethos's consolidated revenue from operations rose 21.7% year-on-year (YoY) to Rs 2.5 bn in Q4FY24, while profit-after-tax (PAT) surged 58% YoY to Rs 210 m.

On the other hand, Ethos's earnings before interest, tax, depreciation, and amortisation (EBITDA) jumped 45.1% YoY to Rs 440 m in Q4FY24 and EBITDA margins improved 2.6% points (bps) YoY to 17%.

Ethos unveiled 10 new boutiques across 9 cities, including expansion in 4 new cities. Looking ahead, Pranav Saboo, Founder and Managing Director of Ethos.

RVNL Soars 7%. Here's Why

Moving on to news from the railway sector, shares of Rail Vikas Nigam jumped over 7% on 14 May after the company bagged an order worth Rs 2.4 bn from the southeastern railway.

The PSU firm informed, in an exchange filing, that it has got an order to provide an automatic block signalling system from Jolarpettai Junction to Erode Junction of the Salem Division of the Southern Railway. The order is to be executed within 12 months.

Earlier this month, the railway public sector undertaking (PSU) informed that it has received an order from South Eastern Railway to meet the 3,000 MT loading target.

The scope of the project involves Design, Supply, Erection, Testing and Commissioning for the upgradation of the electric traction system for the Rajkharsawan Nayagarh Bolani section of the Chakradharpur division of South Eastern Railway. The said project will be executed within 18 months.

Shares of RailTel, RITES, Indian Railway Finance Corporation (IRFC), Ircon International, IRCTC, BEML, and Titagarh Rail also jumped up to 11% intraday.

RailTel shares surged over 10% to hit an intraday high of Rs 393.5 apiece on NSE.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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