Benchmarks trade with major losses; auto shares in pressure

The headline equity benchmarks traded with significant losses in the morning trade, tracking weak global cues, as investor sentiment turned cautious ahead of key domestic economic data releases. The Nifty traded below the 24,800 level. Oil & Gas shares slipped after advancing for the past two consecutive trading sessions.

At 10:30 ST, the barometer index, the S&P BSE Sensex, slipped 833.96 points or 1.01% to 81,342.49. The Nifty 50 index tanked 242.75 points or 0.97% to 24,759.45.

In the broader market, the S&P BSE Mid-Cap index shed 0.28% and the S&P BSE Small-Cap index fell 0.01%.

The market breadth was negative. On the BSE, 1,342 shares rose and 1,850 shares fell. A total of 149 shares were unchanged.

New Listing:

Shares of Borana Weaves was locked in upper circuit of 5% at Rs 255.10 at 10:19 IST on the BSE, representing a premium of 18.10% compared with the issue price of Rs 216.

The scrip was listed at Rs 243.00, exhibiting a premium of 12.5% to the issue price.

So far, the stock has hit a high of 255.10 and a low of 243 On the BSE, over 1.92 lakh shares of the company were traded in the counter so far.

Earnings Today:

Life Insurance Corporation of India (down 0.58/%), Bharat Dynamics (up 3.53%), Bosch (down 0.25%), DCX Systems (up 1.77%), Dynamatic Technologies (down 0.24%), EID Parry India (down 0.94%), Entero Healthcare Solutions (up 0.01%), Esab India (down 0.42%), Gujarat Fluorochemicals (up 0.06%), Gateway Distriparks (down 1.01%), Goodyear India (up 0.06%), Hindustan Copper (up 0.57%), ITI (up 9.02%), JK Lakshmi Cement (up 0.87%), Medplus Health Services (down 1.98%), Minda Corporation (up 1.62%), Info Edge (India) (up 0.04%), NMDC (up 1.39%), V2 Retail (up 1.52%) will announce their quarterly earnings later today.

Buzzing Index:

The Nifty Oil & Gas index fell 0.94% to 11,419.55. The index rose 0.35% in the previous two consecutive trading sessions.

Mahanagar Gas (down 1.53%), Bharat Petroleum Corporation (down 1.44%), Gujarat State Petronet (down 1.32%), Indraprastha Gas (down 1.31%) and Petronet LNG (down 1.26%) were the top losers. Among the other losers were Reliance Industries (down 1.21%), Oil & Natural Gas Corpn (down 1.09%), GAIL (India) (down 0.98%), Hindustan Petroleum Corporation (down 0.94%) and Adani Total Gas (down 0.71%) tumbled.

Stocks in Spotlight:

Orchid Pharma tumbled 4.47% after the company reported a 32.4% decline in consolidated net profit to Rs 22.29 crore in Q4 FY25 as compared with Rs 32.96 crore in Q4 FY24. Net sales increased 9.4% YoY to Rs 237.48 crore in Q4 FY25.

Awfis Space Solutions rose 0.17%. The company?s consolidated net profit soared 713.8% to Rs 11.23 crore on 46.2% increase in net sales to Rs 339.69 crore in Q4 FY25 over Q4 FY24.

Olectra Greentech tanked 5.56%. The company reported a 53.2% increase in consolidated net profit to Rs 21 crore on 55.4% rise in net sales to Rs 448.92 crore in Q4 FY25 over Q4 FY24.

KEC International rallied 6.71% after the company?s consolidated net profit jumped 76.7% to Rs 268.20 crore on 11.5% increase in revenue from operations to Rs 6,872.12 crore in Q4 FY25 over Q4 FY24.

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