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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%.

Advait Infratech Shares Surge on Power Transmission Order Announcement

Advait Infratech's shares have hit the 5% upper circuit for the fourth consecutive session, marking an 18% rebound in December after a period of negative returns from September to November. The company, with a market cap of Rs 1,850.5 crore, is involved in a significant power transmission project covering over 1,09,313 km of OPGW across various regions, as outlined in the Ministry of Power's plans.

KEC International secures 1704 crore order from Power Grid Corporation

KEC International has secured turnkey orders worth Rs 1,704 crore from Power Grid Corporation of India Limited for the design, supply, and installation of 765 kV Transmission Lines and GIS Substations. This win bolsters the company's T&D order book, contributing to a year-to-date order intake of Rs 16,300 crores, reflecting over 60% growth compared to last year. Additionally, on November 25, KEC International obtained new orders totaling Rs 1,114 crore across various sectors, including T&D projects in the Middle East and Americas.

Indian markets decline as Adani stocks plummet amid geopolitical tensions

Indian benchmark indices faced pressure on November 21, with the Nifty falling below 23,300 and the Sensex down 422.59 points, or 0.54%, closing at 77,155.79. The decline was driven by weak global cues and significant selling in Adani Group stocks following bribery charges against Gautam Adani. Major losers included Adani Enterprises and SBI, while Power Grid Corp and UltraTech Cement were among the gainers.

Sensex and Nifty decline amid Adani bribery allegations and geopolitical tensions

The Sensex fell by 424.48 points (0.55%) to 77,153.90, while the Nifty dropped 165.10 points (0.70%) to 23,353.40 amid concerns over a $250 million bribery indictment against Gautam Adani and geopolitical tensions from the Russia-Ukraine conflict. Public sector banks and energy stocks were particularly hard hit, with 2,354 shares declining compared to 958 advancing. Analysts suggest that the combination of these factors is leading investors to adopt a cautious approach, further pressuring the markets.

Power Grid plans significant capex increase amid robust project pipeline

Power Grid Corporation of India Limited (PGCIL) anticipates project awards worth Rs 1.5 lakh crore over the next 7-8 years, supported by a robust pipeline of Rs 1.4 lakh crore. The company has raised its fiscal 2025 capex guidance to Rs 20,000 crore, with a goal of Rs 40,000 crore by fiscal 2027, aiming for a total capex of Rs 3 lakh crore by 2032. Despite a poor Q2FY25 performance due to one-off issues, the outlook remains positive with expectations of improved earnings growth and a 4% dividend yield.

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.

stocks to watch today titan ntpc infosys and quarterly earnings announcements

Stocks to watch include Titan, NTPC, Infosys, Dr Reddy’s Labs, GAIL, Mankind Pharma, and JK Tyre. On November 6, several companies will report quarterly earnings, including Tata Steel, Power Grid Corporation, Apollo Hospitals, and Jindal Steel & Power, among others.

Nifty and Sensex decline as midcaps outperform amid mixed sector performance

Nifty and Sensex have erased early gains, with Nifty failing to hold above 24,500, while the smallcap index rose by 1%. IT and FMCG sectors showed gains, but autos, pharma, and metals lagged behind. Key gainers included Bajaj Finance and Tech Mahindra, while M&M and Sun Pharma were among the top losers.

power grid wins major inter-state transmission projects in rajasthan and haryana

Power Grid Corporation of India has been awarded inter-state transmission projects, focusing on the evacuation of power from the Rajasthan REZ Ph -IV (Part-3: 6 GW) [Bikaner complex]. The company will establish a new 765/400kV Siwani sub-station and various transmission lines in Rajasthan and Haryana on a build, own, operate, and transfer (BOOT) basis, following the receipt of a Letter of Intent for the project.
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