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stock market turmoil as major companies hit 52 week lows

On January 13, 2025, the stock market faced significant pressure, with 295 securities hitting 52-week lows. Notable declines included Life Insurance Corporation (LIC) at ₹823.7, Adani Wilmar at ₹267.1, Olectra Greentech at ₹1,268.1, and Tata Steel at ₹124.18, amid various industry challenges and competitive pressures. The NIFTY 50 index fell 1.06%, while the BSE SENSEX dropped 0.93%, reflecting widespread losses across sectoral indices.

Indian stock market plunges over 1.5 percent amid virus outbreak fears

The Indian stock market faced a significant downturn on January 6, with both the Sensex and Nifty 50 indices dropping over 1.5% amid fears of a new virus outbreak in China. The Nifty 50 closed at 23,616 points, slipping below the crucial 24,000 level, while the broader market indices, including Nifty Smallcap 100 and Nifty Midcap 100, fell by 3.2% and 2.7%, respectively. Major sectoral indices suffered losses, particularly in PSU Bank, Metal, and Energy sectors, with ITC leading individual stock declines at 8.1%.

LG Electronics India Files for Major Public Issue Exceeding 15000 Crore

LG Electronics India has filed a draft red herring prospectus with Sebi for a public issue expected to exceed Rs 15,000 crore, positioning it among India's largest IPOs alongside major firms like Hyundai Motor India and LIC. The offer will consist of up to 10.18 crore equity shares, with no proceeds going to the company. Lead managers for the issue include Morgan Stanley, JPMorgan, Axis Capital, BofA Securities, and Citi.

Market sentiment sours as IT stocks drag indices lower for seventh session

Benchmark indices Nifty and Sensex continued their decline for the seventh consecutive session, with the Nifty dropping below 23,400 amid a significant downturn in IT stocks. Concerns over slower US interest rate cuts and rising import prices have shifted market sentiment from "buy the dip" to "sell on the rise." As of 10 am, the Sensex was down 390.49 points at 77,189.82, while 1,131 shares advanced and 2,132 shares declined.

Nifty reports single-digit earnings growth for second consecutive quarter

Nifty companies reported a 4% year-on-year profit growth in Q2, marking the second consecutive quarter of single-digit growth, driven by SBI, Hindalco, ONGC, ICICI Bank, and Axis Bank. However, underperformance from BPCL, JSW Steel, and others offset gains, with consumption and asset-quality stress in BFSI sectors noted as weak spots. FY25 earnings projections have been downgraded by 7%, with a mere 5% growth expected, the weakest since FY20.

quarterly earnings reports reveal mixed results across various sectors

The Q2 earnings season for FY25 is underway, with major companies like Apollo Hospitals, Kansai Nerolac Paints, and Trident set to release their results. While many firms have reported, the overall corporate earnings scorecard has been weak, with only 62% meeting or exceeding profit expectations, particularly in the consumption sector. Notably, GAIL's earnings missed expectations due to lower gas trading margins, while Power Grid's profit remained flat year-on-year.

top stock picks for samvat 2081 focus on large caps and growth potential

As Samvat 2081 begins, the stock market remains robust, with Nifty 50 companies expected to achieve an 11.8% earnings CAGR from FY24-FY26. Following a record-breaking Samvat 2080, analysts suggest a shift towards large-cap stocks, indicating a need to rebalance portfolios away from small and mid-caps.

Indian coal giants lobby for weaker pollution rules amid production expansion

India's coal giants, including Coal India Limited and NTPC, have lobbied successfully to weaken pollution regulations on fly ash, despite international commitments to phase down coal use. This push for lax rules coincided with a significant ramp-up in coal production, raising concerns about environmental health and sustainability. The financial penalties for non-compliance could threaten the viability of power stations, potentially leading to a power crisis.

coal india reports 22 percent profit drop shares fall 5 percent

Coal India reported a 22% decline in consolidated net profit for Q2, falling to Rs 6,274.80 crore from Rs 8,048.64 crore a year earlier, attributed to lower sales and softening prices. Consolidated income also decreased to Rs 32,177.92 crore from Rs 34,760.30 crore in the same period last fiscal. Following the announcement, shares dropped by 4.75% to Rs 439.2 on the NSE.

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