Stock Market LIVE: Nifty, Sensex Open Higher As Axis Bank, HDFC Bank Shares Lead
Good morning, welcome to our blog for live market coverage. The Nifty 50 and Sensex continued gaining on Thursday as private bank stocks advance. Axis Bank shares were top contributors to the Nifty 50 index.
Nifty’s Next Crucial Resistance Level
The Nifty’s next crucial resistance level is 25,500, while it will find support at 25,200. This indicates that the market is expected to remain bullish in the short term, with the Nifty 50 index likely to test the 25,500 level.
Route Mobile Partners with Kalaam Tedlecom
Route Mobile is in a pact with Kalaam Tedlecom for customer engagement services across the Middle-East. The company will deliver WhatsApp business services to companies across the Middle East. This partnership is expected to boost Route Mobile’s revenue and increase its presence in the Middle Eastern market.
Godavari Biorefineries Receives Patent
Godavari Biorefineries received a patent related to compounds for inhibition of unregulated cell growth, the company said in the exchange filing. This patent is a significant development for the company and is expected to give it a competitive edge in the market.
Rubicon Research Ltd. Lists on Exchanges
After receiving an overwhelming response for its initial public offer, Rubicon Research Ltd. listed on the exchanges at nearly 30% premium to its issue price. The company listed on the National Stock Exchange at Rs 620, which implied a 27.84% premium over its issue price of Rs 485. It listed on BSE at Rs 620.10 apiece, which indicated a premium of 27.86%.
Mangalore Refinery & Petrochemicals Ltd. Share Price Jumps
Mangalore Refinery & Petrochemicals Ltd. share price jumped 8.73% to Rs 154.5 apiece, the highest level since July 24. The company’s Q2 earnings were also released, with key highlights including a net profit of Rs 627 crore versus a loss of Rs 271 crore in the previous quarter.
MRPL Q2 Earnings Key Highlights
The company’s Q2 earnings were as follows:
- Net profit at Rs 627 crore versus loss of Rs 271 crore
- Revenue rose 30.5% to Rs 22,649 crore versus Rs 17,356 crore
- Ebitda at Rs 1,489 crore versus Rs 180 crore
- Margin at 6.6% versus 1%
Indian Stock Market Outlook
The Indian stock market is expected to remain volatile in the short term, with the Nifty 50 index likely to test the 25,500 level. Investors are advised to keep a close eye on the market and stock market news to make informed investment decisions. For more information on how to invest in the stock market, please visit our website.
Conclusion
In conclusion, the Indian stock market is expected to remain bullish in the short term, with the Nifty 50 index likely to test the 25,500 level. Investors are advised to keep a close eye on the market and stock market news to make informed investment decisions. For more information on the Indian stock market, please visit our website.