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Mid Session News

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(16 May 2025, 10:34)

Nifty below 25,050; IT shares decline


The key equity benchmarks traded with modest losses in early trade. The Nifty traded below the 25,050 mark. IT shares declined after advancing in the past two consecutive trading sessions.

At 10:30 IST, the barometer index, the S&P BSE Sensex, declined 212.94 points or 0.26% to 82,317.80. The Nifty 50 index fell 51.90 points or 0.21% to 25,010.65.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.58% and the S&P BSE Small-Cap index added 0.76%.

The market breadth was strong. On the BSE, 2,317 shares rose and 1,217 shares fell. A total of 202 shares were unchanged.

Buzzing Index:

The Nifty IT index rose 0.72% to 38,018.70. The index rose 1.78% in the past two consecutive trading sessions.

HCL Technologies (down 1.4%), Infosys (down 0.96%), Tech Mahindra (down 0.91%), Wipro (down 0.53%), Tata Consultancy Services (down 0.45%), Mphasis (down 0.43%), and Coforge (down 0.24%) fell.

On the other hand, LTIMindtree (up 0.48%) ,Persistent Systems (up 0.47%) and Oracle Financial Services Software (up 0.24%) edged higher.

Result Today

Bharat Heavy Electricals (up 1.73%), CreditAccess Grameen (down 0.67%), Delhivery (down 0.37%), Dhanuka Agritech (up 0.46%), EIH Associated Hotels (down 1.22%), Emami (up 0.22%), Eureka Forbes (up 0.24%), Galaxy Surfactants (up 0.05%), Gujarat Alkalies and Chemicals (down 0.44%), Heritage Foods (up 3.04%), Hyundai Motor India (down 0.85%), India Glycols (down 0.15%), IOL Chemicals & Pharmaceuticals (down 2%), Jubilant Pharmova (up 0.97%), Sterlite Technologies (up 0.98%), Texmaco Rail & Engineering (up 4.72%), and KRBL (up 1.65%) will announce their quarterly earnings later today.

Stocks in Spotlight:

LT Foods added 2.38% after the company’s consolidated net profit jumped 7% to Rs 161 crore in Q4 FY25, compared with Rs 150 crore in Q4 FY24. Total income increased 7.40% to Rs 2,228.36 crore in Q4 FY25, compared with Rs 2,074.81 crore in Q4 FY24.

Godrej Industries added 1.83% after the company reported a net profit of Rs 183.08 crore in Q4 FY25, compared with a net loss of Rs 311.81 crore in Q4 FY24. Revenue from operations jumped 26.5% to Rs 5,779.69 crore in Q4 FY25, compared with Rs 4,567.27 crore in Q4 FY24.

Biocon rose 0.58%. The company said that its subsidiary Biocon Pharma has received approval for its ANDA for Rivaroxaban Tablets USP from the United States Food and Drug Administration (US FDA) for various strengths.

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