Sensex Today Trades Higher | Nifty Above 23,550 | Mishra Dhatu Nigam Rallies 8%

Thu, 14 Nov 10:30 am

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Hong Kong stocks led declines in Asia on Monday after Beijing's latest stimulus fell short of investor expectations, overshadowing Wall Street's record highs from Friday and futures pointing to further strength at the reopen.

Japan's Nikkei fell 0.3%. South Korea's Kospi lost 0.9% and Taiwan's benchmark slipped 0.7%.

The S&P 500 and the Dow Jones Industrial Average ended Wednesday's session near the flatline as the postelection rally lost some steam. Traders also contemplated a key inflation report that was in line with expectations.

Here's a table showing how US stocks performed on Wednesday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	180.49	-2.83	-1.54%	182.62	180.12	193.3	129.4
Apple	225.12	0.89	0.40%	226.65	222.76	237.49	164.08
Meta	580	-4.82	-0.82%	585.64	575.17	602.95	313.66
Tesla	330.24	1.75	0.53%	344.6	322.5	358.64	138.8
Netflix	830.47	10.97	1.34%	836.99	820.54	836.99	445.64
Amazon	214.1	5.19	2.48%	215.09	209.14	215.09	139.53
Microsoft	425.2	2.17	0.51%	429.33	418.21	468.35	362.9
Dow Jones	43910.98	47.21	0.11%	44141.33	43829.98	44486.7	34581.2
Nasdaq	21070.79	-34.63	-0.16%	21154.94	20955.24	21182.03	15695.58

Source: Equitymaster

At present, the BSE Sensex is trading 99 points higher and NSE Nifty is trading 38 points higher.

Eicher Motors, HCL Tech and Coal India among the top gainers today.

BPCL, HUL and Shriram Fiannce other hand are among the top losers today.

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.

Broader markets are trading on positive note. The BSE Midcap index is trading 0.7% higher and the BSE Smallcap index is trading 1.3% higher.

Sectoral indices are trading on a positive note today with stocks in realty sector and finance sector witnessing buying.

The rupee is trading at Rs 84.41 against the US dollar.

In commodity markets, gold prices are trading 0.9% lower at Rs 73,848 per 10 grams 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...

Speaking of the stock market, 32 auditors had resigned between January and May 2018. The number may seem miniscule given the quantum of listed stocks.

However, what was alarming was the rationale of the resignations, which weren't in the normal course of audit contracts.

The role of auditors truly came under the spotlight when a big 4 audit firm (PwC) was found guilty of shadowing the massive corporate governance lapse at Satyam Computers in 2008.

Tanushree Banerjee, research Analyst at Equitymatser in her latest video talks about how story repeated itself in 2018. While auditors were to play a crucial role in pointing red flags, they chose to turn a blind eye to some frauds. And when matters get worse, typically, the auditors resigned.

The story does not change in 2024

Watch now.

Cipla Receives FDA Observations

Cipla Ltd on Wednesday (13 November) announced that the US Food and Drug Administration (USFDA) has issued eight observations following an inspection of the company's manufacturing facility in Virgonagar, Bengaluru.

The inspection took place from 7 November to 13 November, concluded with the issuance of Form 483, a document outlining conditions the regulator believes may need improvement for compliance with manufacturing practices.

In a filing to stock exchanges, Cipla confirmed its commitment to fully address the FDA's observations within the required timeframe. The company stated it would engage closely with the FDA to ensure each point is comprehensively resolved.

The observations come at a significant time for Cipla, which reported a consolidated net profit of Rs 13 bn for the quarter ended September, driven by revenues of Rs 70.5 bn. However, Cipla's shares closed 1.3% lower on Wednesday at Rs 1,505.60 on the National Stock Exchange.

NALCO Q2 Results

State-owned National Aluminium Company Ltd (NALCO) on Wednesday (November 13) reported a 415.4% year-on-year (YoY) jump in net profit at Rs 10.6 bn for the September quarter.

In the corresponding quarter of the previous fiscal, NALCO posted a net profit of Rs 2.1 bn.

The aluminium PSU's revenue from operations surged 31.5% to Rs 40 bn against Rs 30.4 bn in the year-ago period.

At the operating level, EBITDA jumped 289.4% YoY to Rs 15.5 bn in the second quarter of this fiscal over Rs 3.9 bn.

The EBITDA margin stood at 38.7% in the reporting quarter compared to 13% in Q2 of FY24. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The board of directors has approved the payment of an interim dividend of Rs 4 per share (80% on the face value of Rs 5 each) on the paid-up equity share capital of Rs 9.2 bn for FY 2024-25.

The record date for payment of the dividend to eligible shareholders is Friday (29 November).

The results came after the close of the market hours.

Shares of National Aluminium Company Ltd ended at Rs 219.80, down by Rs 6.05, or 2.68%, on the BSE.

NBCC Q2 Results

State-run NBCC Ltd. reported its September quarter results on Wednesday, 13 November, which were higher on some parameters on a year-on-year basis, but its margins saw a contraction compared to last year.

NBCC's net profit for the quarter increased by 52.8% from the same quarter last year to ?125.1 crore from 81.9 crore. Revenue for the period stood at ?2,458.7 crore from ?2,085.5 crore during the year-ago period, implying a growth of 19.4%.

NBCC's Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter stood at ?100 crore, which was 4.6% higher than the same quarter last year.

NBCC's net profit for the quarter increased by 52.8% from the same quarter last year to ?125.1 crore from Rs 819 m. Revenue for the period stood at Rs 24.6 bn from Rs 20.9 bn during the year-ago period, implying a growth of 19.4%.

NBCC's Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter stood at Rs 1 bn, which was 4.6% higher than the same quarter last year.

EBITDA margin, however, narrowed on a year-on-year basis by 0.5% to 4.1% from 4.6% during the same period last year.

NBCC has not shared details on the order book size or the order pipeline for the second half of the current financial year, which they might do during their post-earnings call with analysts.

NBCC also recently declared a bonus issue of shares, and is now trading adjusted for the same.

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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