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New Delhi: Shares of <keyword id="20599931" type="General" weightage="100" keywordseo="NTPC-Green-Energy" source="keywords">NTPC Green Energy</keyword> Ltd, the <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> arm of <keyword id="19903558" type="General" weightage="20" keywordseo="NTPC" source="keywords" meta.keywordsubtype="org" meta.entityname="NTPC" meta.hostid="261" meta.entityid="NTPC">NTPC</keyword>, listed with a premium of over 3 per cent against the issue price of Rs 108 on Wednesday. The stock made its debut at Rs 111.60, up 3.33 per cent from the issue price on the BSE. Later, it climbed 12.40 per cent to Rs 121.40. At the NSE, it listed at Rs 111.50, up 3.24 per cent. The company's market valuation stood at Rs 1,02,211.38 crore during the morning trade. Shares of NTPC climbed nearly 2 per cent to Rs 368.80 on the BSE. The <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword> of NTPC Green Energy Ltd got subscribed 2.40 times on the closing day of the share sale on Friday. The Rs 10,000-crore share sale had a price band of Rs 102-108 per share. Proceeds from the <keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>, about Rs 7,500 crore at the upper band, will be used to repay or prepay part or all of its subsidiary NTPC Renewable Energy Ltd's (NREL) outstanding loans, and a portion will be utilised for general corporate purposes. NTPC Green Energy is a 'Maharatna' central public sector enterprise with a renewable energy portfolio, including solar and wind power assets.

NTPC Green Energy shares debut with over 3% premium

Hyundai To Swiggy: Everyone wants to cash in on the IPO bonanza

As we approach the festive season, India's primary market is set to remain abuzz with action, with a slew of IPOs coming the investor's way. More than 12 companies will debut on the bourses in the next 2 months, looking to raise around Rs 60,000 crore in total. Prominent names among them include food delivery giant <keyword id="19896956" type="General" weightage="20" keywordseo="Swiggy" source="keywords" meta.keywordsubtype="org" meta.entityname="Swiggy" meta.hostid="261" meta.entityid="Swiggy">Swiggy</keyword>, automobile giant <keyword id="19906087" type="General" weightage="20" keywordseo="Hyundai" source="keywords">Hyundai</keyword> and more. Apart from these companies, <keyword id="20599931" type="General" weightage="20" keywordseo="NTPC-Green-Energy" source="keywords" meta.keywordsubtype="org" meta.entityname="NTPC Green Energy" meta.hostid="261" meta.entityid="NTPC Green Energy">NTPC Green Energy</keyword>, Afcons Infrastructure, Waaree Energies, Niva Bupa Health Insurance, One Mobikwik Systems, and Garuda Construction will also be bringing about their IPOs in the months to come. As per reports, the Indian markets can expect around 30 <keyword id="19898327" type="General" weightage="100" keywordseo="IPO" source="keywords">IPO</keyword>s before the end of 2024. The biggest of the lot will be of Hyundai Motor India Ltd, the Indian subsidiary of South Korea's Hyundai Motor Company, which is expected to raise Rs 25,000 crore, making it the largest-ever IPO in India to date. This record was previously held by LIC (Life Insurance Corporation of India), which had raised about Rs 21,000 crore via its IPO in 2022. However, the automobile giant's issue will entirely be an OFS (Offer for Sale) of about 14,21,94,700 shares by Hyundai Motor Company, and will not have any fresh issue involved. Food and grocery delivery giant Swiggy is targeting to raise Rs 10,414 crore via a combination of fresh issue and OFS. The Rs 10,000-crore IPO of NTPC Green Energy is also set to come in the first week of November. Following them on heels will be the IPOs of construction firm Afcons Infrastructure, which will look to raise Rs 7,000 crore. Waaree Energies is expected to raise Rs 3,000 crores via its IPO. Additionally, Niva Bupa Health Insurance and One Mobikwik Systems are also planning to raise Rs 3,000 crore and Rs 700 crore, respectively. <h2>Positioning oneself in this IPO Euphoria </h2>So far in 2024, 62 companies have already raised Rs 64,000 crore collectively via mainboard, marking a 29% increase from Rs 49,436 crore, which were mopped up by 57 firms through the IPO route in 2023. More than 50 companies have already filed their draft papers, and are now awaiting market regulator SEBI's approval. IPO prospects for 2025 aren't looking dull either, with SEBI already approving 22 IPOs, which will collectively look to raise Rs 25,000 crore. Amidst this IPO frenzy, how can you position yourself in the best possible manner? Should you subscribe to an IPO for the long-term, or should you sell post earning listing gains? Per a recent SEBI study, which studied investor behavior over 144 IPOs listed on bourses between April 2021 and December 2023, if an IPOs listing returns exceeded 20%, investors are likely to sell around 67.6% of shares by value within just a week. On the contrary, if the returns were negative, only 23.3% of shares by value were sold off. Sarvjeet Singh Virk, Co-founder &amp; MD, Shoonya by Finvasia observes that most <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">retail investors</keyword> are mainly attracted to the listing gains of the IPO, while ignoring the fundamentals of the companies floating the IPOs. "Mindlessly investing without evaluating the valuations and fundamentals of any business can be highly risky. Also, investing solely on the basis of gray market premiums is yet again, undesirable. Recently, NSE has capped the pre-opening price surge to 90% to discourage investors who are investing only for listing gains. However, this is applicable only for SME IPOs, and not mainboard ones", he continues. Reading the company's DRHP or RHP can be a good starting point to understand why the company wishes to raise funds in the first place. It can also help you understand its long-term objectives. Another good parameter is to check how its peers are performing in the markets, as compared to it. Also evaluate if the company have a steady track record of profitability and revenue growth. Check for the shareholding pattern of the company, pre and post IPO. Is there a fresh issue, or is the IPO entirely OFS (offer for sale), where promotors are offloading their stake in the company? While most IPOs are a mix of the two, heavy selloff of promoter stakes should be construed as a red sign.

IPO Mania on D-Street to continue in October-November; Hyundai, Swiggy look to raise Rs 60,000 crore

<ul><li>Apollo Green Energy is expected to announce its initial public offering (IPO) in 2025.</li><li>The company, a part of the Apollo International Group aims to build a <keyword id="23806914" type="General" weightage="20" keywordseo="10000-crore-project-portfolio" source="keywords">₹10,000 crore project portfolio</keyword>.</li><li>The company currently has an order book of ₹3,500 crore.</li></ul>Apollo Green Energy Ltd (AGEL), part of Apollo International Group, on Tuesday said it is preparing for a public listing next year to support its expansion plans and secure new projects. Also, the company is set to build a ₹10,000-crore project portfolio by 2025. "With over 200 professionals and an order book of ₹3,500 crore, we are focused on delivering projects that meet the nation's energy needs and promote sustainability. Our upcoming IPO in 2025 will further strengthen our financial base, enabling us to scale our operations and invest in cutting-edge renewable technologies," said Sanjay Gupta, CEO, Apollo Green Energy. AGEL is a leading Engineering, Procurement, and Construction (EPC) company specializing in renewable energy, providing a range of solutions that includes utility-scale solar, energy storage systems, green hydrogen initiatives, and hybrid power. Operating in eight states, the company manages a diverse portfolio of projects, including 400 MW of solar installations. The company has been involved in the execution of Flue Gas Desulfurization (FGD) systems to reduce sulfur dioxide emissions, a major contributor to pollution, in power generation. This project, valued at approximately Rs 700 crore, is nearing completion. "Currently, we are executing a large utility-scale solar project which requires different technical expertise, like we are doing 40 MW solar fixed tilt in Odisha, 50 MW floating solar project (first of its kind)in Kerala and 200 MW solar with tracker technology in Gujarat. "We are also executing a 1,50,000 smart solar street lights project in Bihar. Going forward, AGEL will also expand its footprint in wind, hybrid, green Hydrogen and battery storage solutions." Gupta added. AGEL aims to play a crucial role in supporting India's clean energy goals. By focusing on solar, green hydrogen, and hydro energy projects, the company not only supports the nation's energy transition but also delivers long-term value for stakeholders, the company said. With revenue growth from Rs 324.83 crore in FY22 to Rs 1,174.77 crore in FY24, AGEL is poised to sustain this momentum through FY25, underscoring its commitment to operational efficiency. In addition, AGEL is also forming strategic partnerships with technology providers and exploring options to produce its own solar modules. These moves will help the company expand its capabilities in renewable energy and keep projects cost-effective, all while contributing to India's vision for a cleaner energy future. With inputs from PTI. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/realme-gt-7-pro-with-snapdragon-8-elite-6500mah-battery-to-launch-in-india-on-november-26/articleshow/114945858.cms">Realme GT 7 Pro with Snapdragon 8 Elite, 6,500mAh battery to launch in India on November 26</a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-indias-biggest-telco-to-go-public-in-2025-retail-ipo-further-away/articleshow/114944496.cms">Reliance Jio IPO – India’s biggest telco to go public in 2025, retail IPO further away</a> <a href="https://www.businessinsider.in/business/auto/news/october-auto-sales-maruti-suzuki-and-tata-motors-report-a-decline-mahindra-continues-to-grow/articleshow/114931927.cms">October auto sales – Maruti Suzuki and Tata Motors report a decline, Mahindra continues to grow</a>

Apollo Green Energy to go public next year – aims to build ₹10,000 crore project portfolio

Enviro Infra Engineers, which is involved in the development of turnkey projects of <keyword id="19979438" type="General" weightage="20" keywordseo="sewage-treatment-plants" source="keywords">sewage treatment plants</keyword> and sewerage systems, on Monday fixed a price band of ₹140-148 per share for its ₹650 crore <keyword id="19913114" type="General" weightage="20" keywordseo="Initial-Public-Offering" source="keywords">Initial Public Offering</keyword> (IPO). The initial share sale will open for public subscription on November 22 and conclude on November 26. The bidding for anchor investors will open for a day on November 21, the company announced. The city-based company's proposed IPO is a combination of a fresh issue of 3.87 crore equity shares and an Offer For Sale (OFS) component of 52.68 lakh shares by promoters. Currently, promoters hold over 93 per cent stake in Enviro Infra Engineers. At the higher end of the price band, the IPO is valued at ₹650 crore, placing the company's market capitalization at approximately ₹2,600 crore. Proceeds from the fresh issue to the tune of ₹181 crore will be used to meet the working capital requirements, ₹100 crore will be used for payment of debt, ₹30 crore will be infused into the company's subsidiary, EIEL Mathura Infra Engineers, to build 60 million litres per day Sewage Treatment Plant (STP) at Mathura in Uttar Pradesh. Besides, a portion will be used for general corporate purposes. Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Enviro Infra Engineers is engaged in designing, construction, operation and maintenance of water and wastewater treatment plants and water supply scheme projects for government authorities/bodies. The treatment process installed by the company at most of the STPs is zero liquid discharge-compliant and the treated water can be used for horticulture, washing, refrigeration, and other process industries. Hem Securities is the sole book-running lead manager of the public issue. The equity shares of the company are expected to be listed on the BSE and NSE on November 29. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/ntpc-green-energy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115403791.cms">NTPC Green Energy IPO – GMP, risk factors and all you need to know</a><a href="https://www.businessinsider.in/business/auto/webstories/kawasaki-ninja-zx-4rr-launched-in-india-priced-at-9-42-lakh/slidelist/115332842.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/kawasaki-ninja-zx-4rr-launched-in-india-priced-at-9-42-lakh/slidelist/115332842.cms" target="_blank">Kawasaki Ninja ZX-4RR launched in India priced at ₹9.42 lakh</a><a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-grow-5-6-in-q3-2024-vivo-leads-the-market/articleshow/115329847.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-grow-5-6-in-q3-2024-vivo-leads-the-market/articleshow/115329847.cms" target="_blank">Indian smartphone shipments grow 5.6% in Q3 2024, Vivo leads the market</a>

Enviro Infra Engineers IPO to open on Nov 22; eyes ₹650 crore

<keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> closed the day with marginal gains, with Nifty inching up 0.09% to close at 24,857.30 points, while Sensex rose around 99 points to close at 81,455.40 points. Tata Motors (up by 3.38%), <keyword id="19903558" type="General" weightage="20" keywordseo="NTPC" source="keywords">NTPC</keyword> (up by 3.24%), <keyword id="19908646" type="General" weightage="20" keywordseo="BPCL" source="keywords">BPCL</keyword> (up by 3.08%), Power Grid Corporation of India (up by 2.09%) and <keyword id="20007884" type="General" weightage="20" keywordseo="Titan" source="keywords">Titan</keyword> (up by 1.77%) were amidst the <keyword id="20859131" type="General" weightage="20" keywordseo="top-gainers" source="keywords">top gainers</keyword>. On the other hand, LTI Mindtree (down by 2.07%), SBI Life (down by 1.67%), <keyword id="20114187" type="General" weightage="20" keywordseo="cipla" source="keywords">Cipla</keyword> (down by 1.61%), <keyword id="20668233" type="General" weightage="20" keywordseo="grasim" source="keywords">Grasim</keyword> (down by 1.57%) and <keyword id="20026907" type="General" weightage="20" keywordseo="sun-pharma" source="keywords">Sun Pharma</keyword> (down by 1.47%) were amongst the leading laggards. Except for India VIX and Nifty Next50, all other broad market indices closed the day in green. As for sectoral indices, FMCG, IT, pharma, PSU bank and healthcare indices closed the day in red. FMCG dipped by over 1%, while consumer durables jumped by 1.12% during the day's trade. Out of the 2,784 stocks traded during the day, 1,597 saw advances, while 1,112 saw declines. Another 75 remained unchanged. 220 stocks hit their 52-week high, while 19 stocks hit their 52-week low. 159 stocks remained in the lower circuit during the day, while 38 stocks hit the lower circuit during today's trading session. Ajit Mishra – SVP, Research, Religare Broking Ltd notes that the market traded volatile for yet another session and ended nearly unchanged. After a flat start, the Nifty gradually inched higher for most of the session; however, sharp profit-taking in the final hours trimmed all the gains. "Meanwhile, a mixed trend continued on the sectoral front, with energy, auto, and realty performing well, while FMCG and pharma lagged slightly. The broader indices continued to attract buying interest, helping market breadth to end on the advancing side. Rotational participation from the heavyweights is maintaining a positive tone amid consolidation, and we expect this prevailing trend to continue. We are targeting 25,100 in the Nifty and suggest focusing on accumulating quality stocks on dips", he continued. As per Aditya Gaggar, director of Progressive Shares, "Broader markets extended their streak of outperformance as Mid and Smallcaps advanced further with gains of 0.45% &amp; 0.86% respectively. Nifty50 has made a DOJI candlestick pattern which indicates an indecisiveness between the bulls and bears. A psychological level of 25,000 will continue to act as a strong barrier while immediate support is placed at 24,800 followed by 24,660". Osho Krishan, Senior Analyst - Technical &amp; Derivatives, Angel One Ltd highlights that the Indian equity markets opened the session steadily, drawing insights from mixed global cues. The benchmark index gradually gained momentum post the initial opening hour and made strides towards the last swing high. However, the bears made a comeback at the highs, leading to a modest correction. Despite multiple efforts, the bulls were unable to challenge the record high, and the day ultimately concluded on a flat note. "Technically, the 25,000 milestone withholds the daunting task for the bulls, and a sustainable breakthrough could only direct the next leg of the rally in the index. On the lower end, 24,600 is likely to be seen as intermediate support, followed by the sacrosanct demand at the 24500 zone in the comparable period. The advance-decline ratio continues to highlight the dominance of the bulls, particularly in the mid and small-cap segments, which bodes well for market sentiments. Thus, one needs to focus on such themes for having an outperformance while the key indices are witnessing some timidness at their pivotal zones", continued Krishan.

Stock market closing: Sensex, Nifty close in green with marginal gains, Titan, NTPC, BPCL amongst top gainers

Both <keyword id="20204377" type="General" weightage="20" keywordseo="indices" source="keywords">indices</keyword>, the <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> opened the day in green. While the Sensex was up by 0.089% to trade at 81,524.79, the Nifty was up by 0.2% to trade at 24,907.80 as of 9:35 on July 31st, 2024. <keyword id="20026009" type="General" weightage="20" keywordseo="Asian-Paints" source="keywords" meta.keywordsubtype="org" meta.entityname="Asian Paints" meta.hostid="261" meta.entityid="Asian Paints">Asian Paints</keyword>, NTPC, Hindalco, ITC, and Bharti Airtel gained early lead during the day's trade, while Tata Consumers, Power Grid Corporation of India, Coal India, Axis Bank and Tata Motors were amongst the leading laggards. India VIX rose by 1.63% in early trade, while small cap indices also dipped in early trade. Amidst sectoral indices, PSU banks, private banks and realty opened the day in red. Mr. Aditya Gaggar, director of Progressive Shares explains that late profit booking dragged the index lower to end 30th July trade at 24,857. Nifty50 has made a DOJI candlestick pattern indicating indecisiveness between the <keyword id="19962351" type="General" weightage="20" keywordseo="Bulls" source="keywords">bulls</keyword> and <keyword id="20769136" type="General" weightage="20" keywordseo="Bears" source="keywords">bears</keyword>. The psychological level of 25,000 will continue to act as a strong barrier while immediate support is placed at 24,800 followed by 24,660. "For Bank Nifty, a level of 51,900 acts as a stiff hurdle while 51,250 serves as immediate support. From the <keyword id="19980368" type="General" weightage="20" keywordseo="Energy-space" source="keywords">Energy space</keyword>, OMC stocks are strengthening their positive momentum (BPCL, IOC, HPCL). As indicated yesterday, the <keyword id="20041689" type="General" weightage="20" keywordseo="FMCG-sector" source="keywords">FMCG sector</keyword> corrected over 1%; some more downside is still left before resuming the primary uptrend. Stock-specific buying can be anticipated in the IT segment. Few fertilizer counters have given a strong breakout, namely Chambal Fertilizers and GNFC. Shrikant Chouhan, Head Equity Research at Kotak Securities highlighted that yesterday, the benchmark indices continued non-directional activity, the Nifty ended 21 points higher while the Sensex was up by 100 points. Among Sectors, the energy index rallied over 1% whereas intraday profit bookings were seen in selective pharma and healthcare stocks. "Technically, after an intraday rally again the market witnessed profit booking near 24,950/81,800, which is mildly negative. We are of the view that the larger texture of the market is positive. However, a fresh uptrend rally is possible only after the dismissal of 24,950/81,800. Above that, the market could move up till 25,050-25,200/82,000-82,400. On the flip side, below 24,800/81,200 we could see further weakness till 24,700/81,000. If the markets are really strong then we can see a strong reversal after hitting the levels of 24,700/81,000. In case the market sustains below 24,700 then we could see the level of 24,500 in the near term", he continued.

Stock market today: Sensex, Nifty inch up marginal gains to open the day in green

<ul><li>NTPC Green Energy intends to build a renewable portfolio of 60 gigawatts (GW) over the next decade.</li><li>It intends to use the proceeds from the share sale to expand its non-fossil businesses.</li><li>The company’s plans are aligned with the government’s target to cut its net carbon emissions to zero by 2070.</li></ul>India’s largest power producer NTPC is likely to list its green energy subsidiary NTPC Green Energy on the Indian stock exchanges in FY24, after its attempts to bring in an investor fell through. As per reports, NTPC has plans to divest 25% of its green energy arm via a public offering. In March 2023, Malaysia's Petronas had agreed to pay $460 million for a 20% stake in NTPC Green Energy, but it withdrew the bid, as per a Bloomberg report. NTPC’s tender offer last year drew initial interest from 13 companies, including Brookfield Asset Management Inc., Canada Pension Plan Investment Board and Abu Dhabi National Energy Co. Of these, only three companies including Petronas, Indian power lender REC and Indraprastha Gas had put in their final bids. Building a non-fossil business State-owned NTPC is India’s largest power generator with 25 coal fired power plants across the country. However, it plans to expand into non-fossil businesses, fundraising via an IPO will help with this expansion. NTPC has a total commissioned solar power capacity of more than 2 gigawatts. It has put all its renewable energy portfolio under one umbrella entity — NTPC Green Energy by transferring its 15 renewable energy assets. The net worth of the assets is ₹13.65 billion as of 31 March, 2022, which is 1.01% of the net worth of NTPC. NTPC Green sets ambitious targets NTPC Green Energy has set an ambitious target of building a renewable generation portfolio of 60 gigawatts (GW) over the next decade. The company’s plans align with the government’s target to cut net carbon emissions to zero by 2070. India is also aiming to build 500 GW of non-fossil energy capacity by 2030. Last month, NTPC Green Energy signed a joint venture agreement with Indian Oil Corporation to set up renewable energy projects to meet round the clock power requirements of IOCL Refineries. The JV will enable NTPC and IOC to meet the government’s clean energy targets in their respective core businesses. In March, the cabinet committee on economic affairs granted exemption to NTPC to invest more than the prescribed limit in its green energy subsidiary, NTPC Green Energy. “The exemption given to NTPC will aid in improving India’s global image as a green economy. It will also decrease India’s dependency on conventional sources of energy by diversifying India’s energy generation and will also decrease the country’s coal import bills. Further, it will also help in ensuring 24*7 power supply to each and every corner of the country,” said the cabinet committee on economic affairs in a statement. The last public sector company that went public was Life Insurance Corporation (LIC) in 2022. It was also India’s largest IPO which raised as much as ₹21,000 crore. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/zepto-preps-for-public-listing-in-2-years-brings-in-ramesh-bafna-as-cfo-to-lead-ipo-process/articleshow/99514143.cms">Zepto preps for public listing in 2 years; Brings in Ramesh Bafna as CFO to lead IPO process</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rbis-mpc-decisively-in-a-rate-pause-territory-as-inflation-cools-down/articleshow/99497132.cms">RBI's MPC 'decisively' in a rate-pause mode as inflation cools down</a>

All about NTPC Green Energy IPO to be out in FY24

Both <keyword id="20204377" type="General" weightage="20" keywordseo="indices" source="keywords">indices</keyword>, <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> opened the day in red. While Nifty was down by 0.28% to trade at 24,461.7 points. Sensex was also down by 0.31%, <keyword id="20114014" type="General" weightage="20" keywordseo="trading" source="keywords">trading</keyword> at 80,353.25 as of 9:30 am. <keyword id="19963567" type="General" weightage="20" keywordseo="Ultratech-Cement" source="keywords" meta.keywordsubtype="org" meta.entityname="Ultratech Cement" meta.hostid="261" meta.entityid="Ultratech Cement">Ultratech Cement</keyword>, NTPC, BPCL, Infosys and Dr. Reddy were amongst the top gainers in early morning trade, while Wipro, <keyword id="19957746" type="General" weightage="20" keywordseo="Kotak-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="Kotak Bank" meta.hostid="261" meta.entityid="Kotak Bank">Kotak Bank</keyword>, Reliance, Eicher Motors and Larsen and Toubro were amongst the leading laggards. Ahead of the <keyword id="19936553" type="General" weightage="20" keywordseo="budget" source="keywords">budget</keyword>, which is set to be presented tomorrow, all broad market indices opened the day in red, except for India VIX, a gauge for market volatility, which was up by 3.64% during early trade. Nifty microcap and small caps shed over 1% each on opening. As for sectoral indices, auto, realty, consumer durables and oil and gas were down 1% each in opening trade. Only FMCG managed to gain a week start and opened the week in green. Over the weekend, <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword> reported its Q1FY25 results. The bank's profit after tax (PAT) jumped to Rs 161.8 billion, up by 35.3% on YoY basis, while its advances for the quarter were Rs 24,635 billion, up by 52.5% YoY, but down by 0.9% quarterly. As for its deposits, at Rs 23,790 billion for the quarter, marked a 24.4% uptick YoY, but remained flat over quarters. The bank's net interest income (NII) stood at Rs 298.4 billion, up by 26.4% YoY. Even the bank's net non performing assets ratio (NPA) stood at 0.39% down 1 bps YoY, and up 6 bps QoQ. The share inched up by 0.78% to trade at Rs 1,619.8 in early trade. Kotak, which also reported its Q1FY25 results over the weekend, saw its PAT jump to Rs 6,250 crore, up 81% YoY. Its Net Interest Income (NII) for Q1FY25 increased to Rs 6,842 crore, up 10% YoY. Net Interest Margin (NIM) was 5.02% for April-June 2024. While total advances inched up 20% YoY to Rs 4,05,957 crore as at June 30, 2024, average total deposits grew to Rs 4,35,603 crore, up 21% YoY. During early trade today, the share was trading at Rs 1,756.25, down by 3.59%. Mr. Aditya Gaggar, Director of Progressive Shares notes that the candlestick pattern on the weekly and daily charts denotes weakness. An early indication from GIFT Nifty suggests the same, tepid opening of the Indian equities. A level of 24,200 will serve as strong support while the higher side is capped at 24,800, he said. "Range (52,100-52,750) breakout in Bank Nifty is necessary for a clear direction. On a sectoral front, a mixed view can be seen where we are recommending booking profits on the Auto segment while we are bullish on the FMCG and IT sectors. The Energy and Metal sectors are indicating weakness by forming a bearish engulfing candle and consolidation breakdown respectively. Weakness was seen in the Broader markets also as Mid and Smallcap space has formed a bearish divergence in RSI. Ahead of the Union Budget, we are suggesting to remain light on trading positions and to focus on risk management", he continued.

Stock market today: India VIX up by 3%, NTPC, BPCL take lead in early morning trade

<keyword id="19955648" type="General" weightage="20" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="261" meta.entityid="Adani Group">Adani Group</keyword> released the composite result and Credit Compendium of Adani Group of <keyword id="20027214" type="General" weightage="20" keywordseo="companies" source="keywords">companies</keyword> for Q1 FY25. The Results Compendium provides a comprehensive overview of the <keyword id="20088085" type="General" weightage="20" keywordseo="financial-performance" source="keywords">financial performance</keyword> of the Adani Portfolio, while the Credit Compendium offers in-depth insights into the portfolio's robust credit strength. According to the results, the strong performance for the quarter was led by <keyword id="20113873" type="General" weightage="20" keywordseo="Adani-Enterprises" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Enterprises" meta.hostid="261" meta.entityid="Adani Enterprises">Adani Enterprises</keyword>' emerging businesses, including solar and wind manufacturing. In a press release, the company stated that it has emerged as India's largest player in the fully integrated <keyword id="19990484" type="General" weightage="20" keywordseo="green-hydrogen" source="keywords">green hydrogen</keyword> chain, as well as in the airports and roads sectors. The company added that AEL's infrastructure businesses' steadily rising contribution is playing a significant role in this growth, with <keyword id="19957744" type="General" weightage="20" keywordseo="EBITDA" source="keywords">EBITDA</keyword> expanding by 69.98 per cent YoY. These fast-growing businesses now contribute 13.3 per cent to the portfolio-level EBITDA, up from 7.2 per cent a year ago. The overall EBITDA of Adani Group companies surged by 32.87 per cent year-on-year (YoY) to reach Rs 22,570 crore, resulting in a trailing twelve-month (TTM) EBITDA of Rs 79,180 crore, marking a 45.13 per cent increase over the corresponding TTM of the previous year. The Adani Group highlighted that its 'Core Infrastructure' platform comprises AEL's (Adani Enterprises) Infrastructure businesses, Utility (Adani Green Energy, Adani Power, Adani Energy Solutions, and Adani Total Gas), and Transport (Adani Ports &amp; SEZ) businesses. The Solar module manufacturing business of the group saw module sales rise by 125 per cent YoY in the quarter. Furthermore, the operationalization of photovoltaic cell lines lowered costs, resulting in higher profitability. The airport business also continues to see strong growth from rising passenger movement, increasing consumer offerings, and the addition of routes, airlines, and flights across seven operational airports. Adani Enterprises' performance indicates that in airports, the annual passenger movement across 7 airports crossed 90 million for the first time. During the quarter, eight new routes, six new airlines, and 13 new flights were added across all seven airports. Additionally, 25 new brands were introduced at Lucknow airport after the inauguration of Terminal 3. The road business achieved its highest-ever 730 lane-km construction during this quarter. In the Adani Green Energy segment, construction work for a 500 MW hydro pump storage has commenced, with a 31 per cent YoY capacity addition during the quarter. Another 250 MW wind capacity was operationalized in July at Khavda, bringing the total capacity to 11.2 GW. Adani Energy Solutions stated that the Khavda-Bhuj Transmission Line (KBTL) is fully commissioned, enabling 3 GW green power evacuation from Khavda. The 1,765 ckm Warora Kurnool Transmission Line (WKTL) was also fully commissioned, strengthening the national grid by ensuring seamless power flow between the western and southern regions. Adani Ports &amp; SEZ reported that Vizhinjam port, India's first transhipment port equipped with South Asia's most advanced container-handling technology, was formally commissioned in July and will become operational in November. In the Cements segment, the promoters infused Rs 15,000 crore in two tranches in Ambuja Cements in March and April, fully subscribing to the warrant program and infusing a total of Rs 20,000 crore since the acquisition in September 2022. The company also acquired Penna Cement, increasing the total capacity to 89 MTPA. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-9-pro-fold-launched-in-india-at-172999-but-you-cant-get-your-hands-on-it-right-now/articleshow/112517193.cms">Google Pixel 9 Pro Fold launched in India at ₹1,72,999, but you can’t get your hands on it right now</a> <a href="https://www.businessinsider.in/stock-market/news/ipo-scam-two-victims-from-hyderabad-lose-over-11crore-in-fake-ipo-scams/articleshow/112488051.cms">IPO scam – Two victims from Hyderabad lose over ₹11 crore in fake IPO scams</a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms">India’s wearables market decline for the first time as smartwatch shipments fall</a>

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