Stock Market Weekly Recap - 30 Sep to 04 Oct

Following three consecutive weeks of gains, the Indian market experienced a sharp decline throughout the week, driven by geopolitical tensions in the Middle East and profit-taking after recent highs. Both indices opened lower and continued to decline as the week progressed.

Nifty opened the week at 26,061 and steadily declined, closing at 24,014, which represents a 4.02% decrease for the week. Similarly, Sensex started lower at 85,208 and continued its downward trend, finishing at 81,688, reflecting a 4.13% weekly decline.

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Important Highlights between 30 Sep to 04 Oct

Cyient DLM Acquires Altek Electronics for $29.2 Million

Cyient DLM Ltd, an integrated electronics manufacturing company based in India, has acquired US-based Altek Electronics Inc for up to $29.2 million. The transaction involves an initial payment of $23.4 million, along with a performance-based earnout that could reach $5.8 million. This acquisition provides Cyient DLM with full ownership of Altek, which focuses on printed circuit board assemblies and box builds for the medical, industrial, and defense industries.

Maruti Suzuki Reports 2% Year-on-Year Sales Growth in September

Maruti Suzuki's shares are drawing attention after the company announced a 2% year-on-year rise in sales for September, reaching a total of 173,000 units. This increase is largely attributed to robust demand for several models, notably the Brezza and the Nexa range. However, despite this growth, the company experienced a 5% decrease in sales compared to August 2024, when it sold 182,000 units.

Adani Group Merges Subsidiaries with Adani New Industries Ltd

The Adani Group has merged Adani Infrastructure Private Limited and Mundra Solar Technology Limited into its green hydrogen and wind turbine manufacturing arm, Adani New Industries Ltd. This consolidation, announced in a stock exchange filing by Adani Enterprises Ltd, aims to streamline the group's renewable energy and infrastructure development operations.

Titan Company Sees 25% Growth in Q2 Revenue

Titan Company has reported a remarkable 25% year-on-year growth in its business for the second quarter, generating revenues of Rs 9,600 crore. This increase was largely fueled by strong performance in the jewelry segment, which saw a boost from heightened consumer demand and festive purchasing. Furthermore, Titan expanded its presence by opening 75 new stores during the quarter. The company also highlighted positive contributions from its watches and eyewear segments, underscoring its overall growth strategy.