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Due to the fall, the market cap of all the companies listed on the Bombay Stock Exchange (BSE) dropped by about Rs 9 lakh crore to Rs 445 lakh crore.

The Sensex closed at 81,151.27 at the end of trading after a huge fall of 930.55 points or 1.15 per cent. At the same time, the Nifty closed at 24,472.10 after falling 309.00 points or 1.25 per cent.

The Nifty Midcap 100 index closed in the red at 56,174.05 after slipping 1503.65 points or 2.61 per cent at the end of trading. The Nifty Smallcap 100 index closed at 18,061.00 after falling 736.40 points or 3.92 per cent.

Nifty Bank closed at 51,257.15 after falling 705.55 points or 1.36 per cent. Selling was seen in Nifty's Auto, IT, PSU Bank, Fin Services, Pharma, FMCG, Metal, Realty, Media, Energy, Private Bank, Infra and Commodity sectors.

The market trend remained negative. On the BSE, 576 stocks were trading in the green, 3,407 stocks in the red. Nearly 75 stocks closed without any change.

Barring ICICI Bank and Bharti Airtel, all the major stocks in the Sensex pack ended in red.

BHEL, Coal India, M&M, Tata Motors, Tata Steel, SBI and Hindalco were the top losers in the Nifty pack. On the other hand, Infosys, ICICI Bank and Bharti Airtel were the top gainers.

According to market experts, bearish sentiment continued to dominate the domestic market amid heightened volatility, with small and midcap stocks taking the biggest hit.

"The RBI's latest bulletin upholds India's GDP growth forecast of 7.2 per cent for FY25, suggesting that the Q2 slowdown is temporary, with festive season consumption expected to rebound and ease the pressure on earnings downgrades,” said experts.

--IANS

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Adjusted profit after tax (PAT) was Rs 459 crore, excluding deferred tax reversal (MAT entitlement) of Rs 314 crore -- up 61.6 per cent YoY while EBITDA was Rs 1,891 crore, up 31 per cent YoY.

Kandarp Patel, CEO, Adani Energy Solutions, said the company remains focused on timely project commissioning as well as achieving operating efficiencies.

“The power demand trends in both utilities and new transmission project wins are very encouraging and we are making progress with the installation of smart meters in all our contracts,” said Patel.

In the month of August, the Adani Group company raised Rs 8,373 crore via the qualified institutional placement (QIP) route, the largest in the country's power sector. The QIP received bids of approximately six times of the base deal size from a diverse group of investors.

Adani Energy Solutions reported an increase in its project pipeline from Rs 17,000 crore in the first quarter of the current fiscal to Rs 27,300 crore in the second quarter (Q2). The transmission network was at 23,269 circuit kilometres (ckm) in the July-September period, compared to 19,862 ckm in the same period of the previous year.

Adani Energy Solutions saw robust growth of 69 per cent in total income, driven by the contribution from the recently commissioned Kharghar-Vikhroli, Warora-Kurnool, Khavda-Bhuj lines, acquired Mahan-Sipat line, higher energy sales in Mumbai and Mundra utilities and contribution from smart metering.

The company also secured three new transmission projects -- NES in Jamnagar Gujarat, NES in Navinal (Mundra), and Khavda Phase IVA, thereby adding 2,059 ckm to under construction network.

“The leverage position is healthy, with net debt to EBITDA metric at 3.1 times in H1 FY25,” said the company. The capex as of H1 FY25 was Rs 4,400 crore, as against Rs 2,622 crore in H1 FY24.

“Our credible steps of successfully divesting the Dahanu thermal plant in line with our commitment and achieving an all-time high share of 39 per cent renewable power penetration in Mumbai strengthens our position as true energy transition leader in India,” Patel said.

--IANS

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"Yesterday’s well-marked low pressure area over east-central Bay of Bengal moved west-northwestwards, concentrated into a depression and lay centred at 0530 hrs IST on October 22, over the same region near latitude 15.4° N and longitude 91.2°E, about 730 km southeast of Paradip (Odisha), 770 km south-southeast of Sagar Island (West Bengal) and 740 km south-southeast of Khepupara (Bangladesh)," said the IMD.

The IMD further noted that the system is very likely to move west-northwestwards and intensify into a cyclonic storm by October 23 over the east-central Bay of Bengal.

"Thereafter, continuing to move northwestwards, it is very likely to intensify into a severe cyclonic storm over northwest Bay of Bengal by the morning of October 24 and cross north Odisha and West Bengal coasts between Puri and Sagar Island during the night of October 24 and the next morning as a severe cyclonic storm with a wind speed of 100-110 kmph gusting 120 kmph," it added.

Notably, Chief Minister Mohan Charan Majhi had earlier asserted that the state government is fully prepared to deal with the impending severe cyclonic storm.

CM Majhi, while emphasising the government's resolve to ensure 'zero casualty' in the cyclone, has appealed to the people not to panic.

The Chief Minister has also reviewed the preparedness to face the cyclone in a high-level meeting at the Lok Seva Bhavan here on Monday. All the District Collectors have been instructed to identify the affected areas and ensure evacuation of all the people from vulnerable places to safer places.

The state government has also cancelled the leaves of all its employees from October 23 to 25. The schools in 14 affected districts will also remain closed during the above period.

The tourists have also been asked to leave Puri before the cyclonic storm hits the Odisha coast. The state government has advised the devotees from the state and outside to avoid visiting the holy city on October 24 and 25.

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