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Rally was driven by baking stock. Nifty Bank closed at 51,259, up 471 points or 0.93 per cent.

In the Sensex pack, ICICI Bank, Wipro, Tata Steel, JSW Steel, M&M, Sun Pharma, HUL, SBI, Tata Motors, Bajaj Finserv, Asian Paints, IndusInd Bank, NTPC and HCL Tech were the top gainers. Axis Bank, Kotak Mahindra Bank, Tech Mahindra, HDFC Bank and Bharti Airtel were the top losers.

Almost all indices on the National Stock Exchange (NSE) closed with gains. PSU Bank, pharma, FMCG, realty, auto, IT and media were major gainers.

Along with largecap, buying was also seen in midcap and smallcap. The Nifty Midcap 100 index was at 55,736, up 458 points or 0.83 per cent and the Nifty Smallcap 100 index was at 18,062, up 214 points or 1.20 per cent.

Vaibhav Vidwani, Research Analyst, Bonanza said, "This rally followed a five-day losing streak, largely driven by strong quarterly earnings from ICICI Bank and Bank of Baroda, which boosted investor sentiment. The current rally is encouraging, but ongoing foreign institutional selling and weaker corporate earnings could continue to pressure the market in the near term."

Rupak De, Senior Technical Analyst, LKP Securities said, "The Nifty remained volatile during the day before closing with a meaningful gain after several days. On the downside, it sustained above the previous day's low, indicating strength in buying."

"This strength may persist as long as it stays above 24,000. Only a decisive drop below 24,000 might trigger panic in the market. On the higher end, resistance is seen at 24,500, and a decisive move above this level could spark a rally in the Nifty," De added.

--IANS

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Continuing profit before tax (PBT) grew 69 per cent to Rs 8,020 crore in H1 FY25 and 44.8 per cent to Rs 3,537 crore in Q2 FY25, said the company.

“Adani Power has embarked on the next phase of its growth journey, swiftly achieving capacity expansion milestones and securing power supply agreements to ensure long-term revenue stability,” said SB Khyalia, CEO, Adani Power Limited.

The company consistently delivers robust operating and financial performance by leveraging its inherent strengths and competitive advantages,” Khyalia added.

Consolidated power sale volume stood at 46 billion units (BU) in H1 FY25, up by 29.2 per cent from 35.6 BU in H1 FY24, due to improved power demand and higher operating capacity.

Consolidated continuing EBITDA for Q2 FY25 increased by 24.6 per cent at Rs 5,402 crore compared to Rs 4,336 crore for Q2 FY24, due to greater sales volumes as well as lower fuel and operating costs.

According to the company, power demand was flat during Q2 FY25 as compared to the corresponding quarter of FY24.

“This was primarily due to climatic conditions such as a delayed but prolonged rain spell affecting demand. Nevertheless, cumulative demand for FY 2024-25 till September 30, 2024 was robust with a growth of 5 per cent over the first half of FY 2023-24,” said the company.

Growing peak demand has also improved power offtake from the thermal power sector to ensure uninterrupted power supply during the hours of low renewable energy generation.

Meanwhile, after Adani Power, which submitted a bid of Rs 12,500 crore for the acquisition of the KSK Mahanadi Power plant in Chhattisgarh, other bidders have revised their offers upwards and the final number could be much higher, according to reports.

Adani’s competitive bid, which aggregates to Rs 27,000 crore when combined with KSK Mahanadi’s reported cash reserves of Rs 10,000 crore and trade receivables worth Rs 4,000 crore, means the lenders could achieve an unprecedented 92 per cent recovery.

KSK Mahanadi has an installed capacity of 1,800 MW. The project, which had accumulated debts of Rs 29,330 crore, was brought into the IBC process in 2019.

--IANS

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The projects, to be initiated across the states on the occasion of Dhanvantari Jayanti and 9th Ayurveda Day, will be launched at around 12.30 p.m. Tuesday at All India Institute of Ayurveda (AIIA), Delhi.

The Prime Minister will inaugurate Phase II of India’s First All India Institute of Ayurveda. It includes a Panchakarma hospital, an Ayurvedic pharmacy for drug manufacturing, a sports medicine unit, a central library, an IT and startups incubation centre, and a 500-seat auditorium among others. Three three medical colleges at Mandsaur, Neemuch, and Seoni in Madhya Pradesh will also be inaugurated.

PM Modi will inaugurate facility and service extensions at various AIIMS in Bilaspur in Himachal Pradesh, Kalyani in West Bengal, Patna in Bihar, Gorakhpur in Uttar Pradesh, Bhopal in Madhya Pradesh, Guwahati in Assam and in Delhi, which will also include a Jan Aushadhi Kendra.

A Super Speciality Block in Government Medical College at Bilaspur in Chhattisgarh and a Critical Care Block in Bargarh, Odisha will also be inaugurated.

The Prime Minister will also lay the foundation stone of five Nursing Colleges in Shivpuri, Ratlam, Khandwa, Rajgarh, and Mandsaur in Madhya Pradesh; 21 Critical Care Blocks at Himachal Pradesh, Karnataka, Manipur, Tamil Nadu and Rajasthan under Ayushman Bharat Health Infrastructure Mission (PM-ABHIM), and several facilities and service extensions at AIIMS in Delhi and in Bilaspur, Himachal Pradesh.

He will also inaugurate an ESIC Hospital at Indore in Madhya Pradesh and lay the foundation stone for ESIC hospitals at Faridabad in Haryana, Bommasandra and Narasapur in Karnataka, Indore in Madhya Pradesh, Meerut in Uttar Pradesh, and Atchutapuram in Andhra Pradesh.

These projects will bring healthcare benefits to around 55 lakh ESI beneficiaries, the PMO said.

As part of the flagship scheme Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PM-JAY), the Prime Minister will launch an expansion of health coverage to all senior citizens aged 70 years and above. The initiative, approved by the Union Cabinet in September, will help provide health coverage to all senior citizens regardless of their income.

In a bid to enhance service delivery across sectors, and to make healthcare more accessible, the PM will also launch drone services at 11 Tertiary Healthcare Institutions -- nine AIIMS at Rishikesh (Uttarakhand), Bibinagar (Telangana), Guwahati (Assam), Bhopal (Madhya Pradesh), Jodhpur (Rajasthan), Patna (Bihar), Bilaspur (Himachal Pradesh), Rae Bareli (Uttar Pradesh), Raipur (Chhattisgarh), Mangalagiri (Andhra Pradesh); and RIMS Imphal in Manipur.

To enable speedy medical care, helicopter emergency medical services will also be launched from AIIMS Rishikesh.

The PM will also launch a fully digitised vaccination process that benefits pregnant women and infants -- the U-WIN portal.

The portal will ensure timely administration of life-saving vaccines to pregnant women and children (from birth to 16 years) against 12 vaccine-preventable diseases, the PMO said.

A separate portal will be launched for allied and healthcare professionals and institutes. It will act as a centralised database of existing healthcare professionals and institutes.

Further, Prime Minister Modi will also launch several initiatives to strengthen the research and development and testing infrastructure to improve the healthcare ecosystem in the country. A Central Drugs Testing Laboratory in Gothapatna in Bhubaneswar, Odisha will also be launched.

The PM will lay the foundation stone of two Central Research Institutes in Yoga and Naturopathy at Khordha in Odisha, and Raipur in Chhattisgarh. He will also lay the foundation stone of four Centres of Excellence at NIPER Ahmedabad in Gujarat for medical devices, NIPER Hyderabad in Telangana for bulk drugs, NIPER Guwahati in Assam for phytopharmaceuticals, and NIPER Mohali in Punjab for anti-bacterial anti-viral drug discovery and development.

Four Ayush Centres of Excellence will be launched, for diabetes and metabolic disorders at the Indian Institute of Science, Bengaluru; sustainable Ayush for advanced technological solutions, start-up support, and net zero sustainable solutions for Rasaushadhies at IIT Delhi; fundamental and translational research in Ayurveda at Central Drug Research Institute, Lucknow; and Ayurveda and Systems Medicine at JNU, New Delhi.

In a major boost to the Make in India initiative in the healthcare sector, five projects are expected to be inaugurated under the Production Linked Incentive (PLI) scheme for medical devices and bulk drugs.

These units -- at Vapi in Gujarat, Hyderabad in Telangana, Bengaluru in Karnataka, Kakinada in Andhra Pradesh, and Nalagarh in Himachal Pradesh -- will manufacture high-end medical devices, such as body implants and critical care equipment, along with important bulk drugs.

A nationwide campaign, “Desh Ka Prakriti Parikshan Abhiyan,” that aims to raise health awareness among the citizens will also be launched by the PM.

To develop climate-resilient healthcare services, the PM will also launch a state-specific Action Plan on Climate Change and Human Health for each state and UT.

--IANS

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