The frontline indices traded with modest losses in morning trade. The Nifty slipped below the 24,300 level after hitting the day's high of 24,394.45 in morning trade. Media shares extended losses for the second consecutive trading session. At 10:29 IST, the barometer index, the S&P BSE Sensex, declined 295.95 points or 0.37% to 80,391.71. The Nifty 50 index lost 79.50 points or 0.33% to 24,256.50. In the broader market, the S&P BSE Mid-Cap index declined 0.33% and the S&P BSE Small-Cap index fell 0.44%. The market breadth was negative. On the BSE, 1,619 shares rose and 2,000 shares fell. A total of 173 shares were unchanged. New Listing: Shares of Sai Life Sciences were currently trading at Rs 700.70 at 10:16 IST on the BSE, representing a premium of 27.63% as compared with the issue price of Rs 549. The scrip was listed at Rs 660, exhibiting a premium of 20.21% to the issue price. So far, the stock has hit a high of 704 and a low of 651.20. On the BSE, over 19.01 lakh shares of the company were traded in the counter so far. Shares of Vishal Mega Mart were currently trading at Rs 110.15 at 10:25 IST on the BSE, representing a premium of 41.22% as compared with the issue price of Rs 78. The scrip was listed at Rs 110, exhibiting a premium of 41.02% to the issue price. So far, the stock has hit a high of 110.95 and a low of 104.92. On the BSE, over 395.28 lakh shares of the company were traded in the counter so far. Shares of One Mobikwik Systems were currently trading at Rs 497.75 at 10:15 IST on the BSE, representing a premium of 78.41% as compared with the issue price of Rs 279. The scrip was listed at Rs 442.25, exhibiting a premium of 58.51% to the issue price. So far, the stock has hit a high of 524 and a low of 439.20. On the BSE, over 11.52 lakh shares of the company were traded in the counter so far. Buzzing Index: The Nifty Media index slipped 1.17% to 1,959. The index declined 1.14% in two consecutive trading sessions. PVR Inox (down 2.45%), Zee Entertainment Enterprises (down 2.07%), Dish TV India (down 1.89%), Sun TV Network (down 1.02%), Den Networks (down 0.90%), Saregama India (down 0.69%), Network 18 Media & Investments (down 0.44%) and Hathway Cable & Datacom (down 0.17%) declined. On the other hand, Nazara Technologies (up 1.32%) and Tips Music (up 0.40%) edged higher. Stocks in Spotlight: Rites shed 0.50%. The company has secured an order worth Rs 122.60 crore from the Meerut Development Authority. Exide Industries (EIL) added 0.45%. The company said that it has invested Rs 99.99 crore in its wholly owned subsidiary, Exide Energy Solutions for greenfield project in Bengaluru. Jindal Saw slipped 1.47%. The company has entered into an agreement with ReNew Green Energy Solutions to acquire shareholding up to 31.2% stake in ReNew Green MHH One. Powered by Capital Market - Live

RITES has been awarded work for 'Consultancy Services for Preparation of Detailed Project Report (DPR) and Construction Supervision of all Infrastructure works of Meerut Development Authority for next five years'. The contract is valued at Rs 122.60 crore. Powered by Capital Market - Live

The orders entail consultancy services for the preparation of a detailed project report (DPR) and construction supervision of all infrastructure works of the Meerut Development Authority for the next five years. RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 30 September 2024, the Government of India held a 72.20% stake in the company. The company's consolidated net profit declined 27.84% to Rs 72.98 crore while revenue from operations fell 7.12% to Rs 540.86 crore in Q2 FY25 over Q2 FY24. Shares of RITES rose 0.32% to currently trade at Rs 301 on the BSE.Powered by Capital Market - Live

The domestic equity benchmarks traded with moderate losses in early trade. The Nifty slipped below the 24,750 mark. Metal, IT and bank shares declined while realty, media and consumer durables shares advanced. At 09:29 IST, the barometer index, the S&P BSE Sensex, declined 295.82 points or 0.36% to 81,837.30. The Nifty 50 index lost 64.45 points or 0.26% to 24,703.85. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.36% and the S&P BSE Small-Cap index rose 0.56%. The market breadth was strong. On the BSE, 2,293 shares rose and 868 shares fell. A total of 143 shares were unchanged. Foreign portfolio investors (FPIs) bought shares worth Rs 2,335.32 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 732.20 crore in the Indian equity market on 13 December 2024, provisional data showed. Economy: India's foreign exchange reserves dropped by $3.235 billion to $654.857 billion, a five-month low, for the week ended December 6, data released by the Reserve Bank of India (RBI) revealed on Friday. Foreign currency assets, a major component of the reserves, decreased by $3.228 billion to $565.623 billion for the week ended December 6, 2024, as per the data. Meanwhile, gold reserves dropped by $43 million to $66.936 billion in the week under consideration. The Special Drawing Rights (SDRs) increased by $25 million to $18.031 billion, RBI data showed. India's reserve position with the IMF rose by $12 million to $4.266 billion in the reporting week. Stocks in Spotlight: Rites advanced 2.65% after the company, has secured an order worth Rs 297.67 crore from the Ministry of External Affairs, Government of India. Lupin rose 0.26%. The company has announced the acquisition of anti-diabetes trademarks GIBTULIO, GIBTULIO MET and AJADUO from Boehringer Ingelheim International GmbH (Boehringer Ingelheim), to strengthen its diabetes portfolio in the country. HBL Power Systems jumped 4.98% after the company has received an order worth Rs 1,522.40 crore from Chittaranjan Locomotive Works (CLW) for the supply, installation and commissioning of the KAVACH (Train Collision Avoidance System) equipment in locomotives. Numbers to Track: The yield on India's 10-year benchmark federal paper advanced 1.69% to 6.844 as compared with previous close 6.730. In the foreign exchange market, the rupee was flat against the dollar. The partially convertible rupee was hovering at 84.8050. MCX Gold futures for the 5 February 2024 settlement fell 0.16% to Rs 77,013. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.01% to 106.90. The United States 10-year bond yield declined 0.23% to 4.391. In the commodities market, Brent crude for February 2024 settlement lost 25 cents, or 0.34% to $74.24 a barrel. Global Markets: Most Asian stocks declined Monday ahead of a swath of Chinese data and following a vow from the nation's regulators to stabilize markets. Investors readied themselves for the final full week of trading this year with a series of central bank meetings including the Fed, Bank of Japan and Bank of England. South Korea's shares and the won rose after President Yoon Suk Yeol was impeached on the weekend. Meanwhile, the au Jibun Bank Japan manufacturing PMI read 49.5 in the first two weeks of December, compared to expectations of 49.2. The reading improved from 49.0 seen in the prior month. The au Jibun Bank Japan Services PMI rose to 51.4 in December from 50.5 in the prior month, pushing further into expansion territory. A reading below 50 indicates contraction, with the manufacturing PMI now shrinking for a sixth straight month. U.S. stocks witnessed a subdued session on Friday as recent economic data showed inflation remaining sticky in November- a trend that could limit the Fed's plans to lower interest rates. The Fed is widely expected to cut interest rates by 25 basis points at the conclusion of a two-day meeting on Wednesday, after the central bank kicked off an easing cycle earlier in the year. The move will bring rates down by a total of 100 bps in 2024. The Dow Jones Industrial Average fell 86.06 points, or 0.20%, to 43,828.06, the S&P 500 lost 0.16 point, or 0.00%, to 6,051.09 and the Nasdaq Composite gained 23.88 points, or 0.12%, to 19,926.72. Powered by Capital Market - Live

Rites has received work for Project Implementation Services for the Construction of Integrated Check Post (ICP) from Ministry of External Affairs, Govt. of India. The value of the order is Rs 297.67 crore. Powered by Capital Market - Live

This order entails providing project implementation services for the construction of an Integrated Check Post (ICP). The project is expected to be completed within a period of 59 months, including the defect liability period. RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 30 September 2024, the Government of India held a 72.20% stake in the company. The company's consolidated net profit declined 27.84% to Rs 72.98 crore while revenue from operations fell 7.12% to Rs 540.86 crore in Q2 FY25 over Q2 FY24. Powered by Capital Market - Live

The project involves the provision of engineering services for design- build-finance, upgrade of the Palmyra to Moleson Creek Highway. The said order is scheduled to be completed over the next 60 months which includes 36 months for pre-construction and construction period and 24 months for post construction period (defect liability period). The company said that the letter of acceptance is yet to be issued by the client RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 30 September 2024, the Government of India held a 72.20% stake in the company. The company's consolidated net profit declined 27.84% to Rs 72.98 crore in Q2 FY25 as against Rs 101.15 crore recorded in Q2 FY24. Revenue from operations fell 7.12% to Rs 540.86 crore in the quarter ended 30 September 2024 from Rs 582.36 crore posted in Q2 FY24.Powered by Capital Market - Live

The company has been appointed as project management consultant (PMC) for the said project. The cost of the project is Rs 148.25 crore (including PMC fee). The company will complete the project within 23 months. RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 30 September 2024, the Government of India held 72.20% stake in the company. The company's consolidated net profit declined 27.84% to Rs 72.98 crore in Q2 FY25 as against Rs 101.15 crore recorded in Q2 FY24. Revenue from operations fell 7.12% to Rs 540.86 crore in the quarter ended 30 September 2024 from Rs 582.36 crore posted in Q2 FY24. The counter shed 0.17% to settle at Rs 287.40 on Thursday, 6 December 2024.Powered by Capital Market - Live

The revised total cost for the project stands at Rs 531.77 crore, excluding GST, which marks an increase from the original cost of Rs 288.44 crore. The electrification work is to be carried out on a turnkey basis at the Lumding junction and Badarpur junction section of Lumding division of Northeast Frontier Railway, it added. RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 30 September 2024, the Government of India held 72.20% stake in the company. The company's consolidated net profit declined 27.84% to Rs 72.98 crore in Q2 FY25 as against Rs 101.15 crore recorded in Q2 FY24. Revenue from operations fell 7.12% to Rs 540.86 crore in the quarter ended 30 September 2024 from Rs 582.36 crore posted in Q2 FY24. Powered by Capital Market - Live

The revised total cost for the project stands at Rs 531.77 crore, excluding GST, which marks an increase from the original cost of Rs 288.44 crore. The electrification work is to be carried out on a turnkey basis at the Lumding junction and Badarpur junction section of Lumding division of Northeast Frontier Railway, it added. RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 30 September 2024, the Government of India held 72.20% stake in the company. The company's consolidated net profit declined 27.84% to Rs 72.98 crore in Q2 FY25 as against Rs 101.15 crore recorded in Q2 FY24. Revenue from operations fell 7.12% to Rs 540.86 crore in the quarter ended 30 September 2024 from Rs 582.36 crore posted in Q2 FY24. Shares of Rites rose 0.49% to end at Rs 275.20 on the BSE on Friday.Powered by Capital Market - Live