Stock Market Today: Sensex down 100 points, Nifty dives below 19650; Sona BLW Precision Forgings, Lupin in focus

Stock Market Today: The benchmarks for Indian equities, the Nifty 50 and the Sensex, are set to open Friday's session lower due to mixed global market movements. Before the opening bell on Dalal Street, GIFT Nifty futures, a pre-opening barometer of the Nifty 50 index, was down 65 points or 0.33 percent at 19,781. The NSE IX's GIFT Nifty traded 30 points, or 0.15 percent, higher at 19,794, indicating that Dalal Street was likely to have a successful start on Friday. Nifty created a lower top and a bearish candle today, closing 118 points lower at 19,659.90 despite monthly F&O settlement, signalling more fall from current levels.After maintaining above it for 21 straight sessions, the Nifty fell below the 10-day EMA's immediate support at 19680.

Tokyo stocks opened lower

In addition to anticipating a Bank of Japan policy announcement, investors were discouraged by declines on Wall Street and a stronger yen as Tokyo markets opened down on Friday.The broader Topix index down 1.16 percent, or 26.73 points, to 2,268.41, while the benchmark Nikkei 225 index fell 1.44 percent, or 474.33 points, to 32,416.83.

Stock Market Today: Stocks in focus

Lupin

The US FDA's concerns about Lupin's Pithampur and Goa facilities have finally been resolved. The medicine maker's corrective measures were approved by the US FDA.

Ajanta Pharma

Due to strong operating results, the speciality pharmaceutical formulation company's profit for the quarter ending in June FY23 increased by 19% year over year to Rs 208 crore. Operations revenue for the quarter climbed by 7% on-year to Rs 1,021 crore, with sales in the US up by 19%, India up by 14%, and Asia up by 6%, but sales in Africa were down by 5% on-year. EBITDA increased by 22% YoY to Rs 271 crore on the operational front. The firm declared a total payout of Rs 25 per share, consisting of a Rs 15 special dividend and a Rs 10 ordinary dividend.

Sona BLW Precision Forgings

The automotive technology company reported its highest-ever quarterly EBITDA at Rs 203 crore, up 43% YoY, and a profit of Rs 112 crore, up 48% year over year for the June FY24 quarter. When compared to the same period in the previous year, revenue during the quarter increased by 24% to Rs 732 crore. As of June 2023, 78% of the net order book of Rs 22,000 crore came from EV (electric vehicle) programmes.

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