Stock Market Weekly Recap - 11 Nov to 15 Nov
17 November 2024
2 min read
00:00 / 00:00
The market experienced yet another week of significant volatility and downtrend due to selling from institutional investors and rising inflation concerns. Overall, the benchmark indices closed in the red.
During the week, Nifty opened the week at 24,087.25 and closed at 23,532.70, which represents a 2.30% decrease for the week. Similarly, Sensex started the week at 79,298.46 and finished at 77,580.31, reflecting a 2.17% weekly decline.
Nifty 50: Top Gainers and Losers
Top Gainers
Stock | LTP (Rs.) | Weekly Increase |
1864.55 | 1.89% | |
4883.7 | 1.88% | |
1858.95 | 1.12% | |
566.7 | 0.50% | |
2523.95 | 0.18% |
Top Losers
Stock | LTP (Rs.) | Weekly Decrease |
4915.6 | 9.55% | |
372.5 | 8.90% | |
280.95 | 6.92% | |
939.05 | 6.90% | |
250.8 | 6.78% |
Important Highlights between 11 Nov to 15 Nov
L&T Secures Rs.15,000 Crore 'Ultra Mega' Order from NTPC
Larsen & Toubro (L&T) has secured an 'ultra mega' order worth over Rs.15,000 crore from NTPC Ltd. to set up thermal power plants in Madhya Pradesh and Bihar. The projects include 2x800 MW Stage-II plants at Gadarwara and 3x800 MW at Nabinagar. L&T will handle the design, engineering, and commissioning of key components like boilers and turbines.
BEML Reports 1.5% Drop in Q2 Profit Amid Weakened Demand for Machinery
BEML, the state-owned Indian company, reported a 1.5% decline in its second-quarter profit, posting Rs.51.03 crore for the period ending September 30, down from Rs.51.78 crore in the same quarter last year. The dip in profit is attributed to weaker demand for heavy machinery amid a slowdown in manufacturing activity. Revenue from operations fell by 6.2% to Rs.860 crore, marking the first decline after four consecutive quarters of growth. Despite this, the company managed to reduce total expenses by 7% to Rs.820 crore. BEML executed orders worth Rs.811 crore during the quarter, a decrease from Rs.910 crore in the previous year.
Natco Pharma Reports 83% Surge in Q2 Profit, Declares Interim Dividend
Natco Pharma reported an 83% surge in its consolidated net profit for Q2 ending September 30, 2024, reaching Rs.676.5 crore, up from Rs.369 crore in the same quarter last year. The company’s total revenue grew by 35%, rising to Rs.1,435 crore from Rs.1,061 crore. The strong performance was driven by significant growth in the exports formulation business and a stable domestic market. The Board of Directors also declared a second interim dividend of Rs.1.50 per equity share for the fiscal year 2024-25.
