Daily Business Bulletin: Key Market Updates, Breaking News & Expert Insights
Your daily dose of financial news in a minute plus expert advisor views.
🗞️ Renewable Energy Capacity Addition in India Increases by 113% in 2024: India added approximately 30 GW of new renewable energy capacity in 2024, marking a significant 113% increase from the previous year.
Expert Opinion: Renewable Energy Minister Pralhad Joshi stated, "Exponential growth from 13.75 GW in 2023 to around 30 GW in 2024, resulting in achieving nearly 218 GW now underscores India's growing commitment to clean energy and its progress in building a greener future."
🗞️ RVNL Share Price Crashes 44% from Lifetime High: Buy or More Pain Ahead?: RVNL share price dropped to ₹364.05 on NSE, around 44% lower than its record high of ₹647 in July 2024.
Expert Opinion: Mahesh M Ojha, AVP of Research at Hensex Securities, commented, "On breaking above ₹365 on a closing basis, RVNL shares might touch ₹378-₹388 soon. However, if it falls below ₹348, it could drop to ₹320. Investors should maintain a stop-loss at ₹348 while holding."
🗞️ ITC Allots 125.11 Crore Shares of ITC Hotels to Shareholders: ITC Ltd. has demerged ITC Hotels into an independent entity, allotting 125.11 crore shares to shareholders. ITC Hotels is now the second-largest hotel chain in India.
Expert Opinion: In an exchange filing, ITC stated, "The Board of Directors of ITCHL, at the meeting held today, January 11, 2025, has allotted 125,11,71,040 equity shares of Rs 1 each to the shareholders as of the record date, January 6, 2025."
🗞️ Jio Financial Services Hits 11-Month Low: Buy or Sell?: Mukesh Ambani's Jio Financial Services shares are trading at their lowest level in 11 months, nearing the price derived during its demerger from Reliance Industries.
🗞️ Strong Debut! Standard Glass Lining Shares Surge by 22.8% on NSE: Standard Glass Lining Technology shares debuted on NSE at ₹172, a premium of 22.8% from the issue price of ₹140. On BSE, the shares listed at ₹176, up 25.71%.
🗞️ Laxmi Dental IPO Fully Subscribed Within Hours: The Laxmi Dental IPO, backed by OrbiMed, was fully subscribed within hours on its opening day, January 13.
🗞️ HCL Tech Q3 Results: Profit Rises by 5.54%: HCL Tech reported a profit of ₹4,591 crore in Q3 FY2025, with a 3.6% QoQ and 5.1% YoY revenue growth.
Expert Opinion: Shiv Walia, CFO at HCLTech, remarked, "Our razor-sharp focus on achieving topline growth with healthy margins is reflected in our highest-ever EBIT of ₹5,821 crore."
🗞️ Suryacon 2025 Highlights Rooftop Solar Challenges: Suryacon & Decarbonise India, held in Mumbai 2025, discussed opportunities and challenges in rooftop solar adoption.
Expert Opinion: Prabir Chakraborty, Senior Sales Manager at Sova Solar, said, "Affordable rooftop solar solutions are vital for India's decarbonisation."
Market Update
Stock Market:
Sensex: Up by 210 points, closing at 65,560.
Nifty 50: Gained 85 points, ending at 19,495.
Sector Performance: IT and Auto led the gains, while Pharma and Realty underperformed.
Commodities:
Crude Oil (WTI): $77.20 per barrel, up by 0.9%.
Natural Gas: $3.18 per MMBtu, down by 0.3%.
Gold and Silver:
Gold: ₹59,400 per 10 grams, up by ₹150.
Silver: ₹74,800 per kg, a rise of ₹200.