Sensex Slumps 250 pts, Nifty Trades Below 24,400; M&M, Hero MotoCorp, Bharti Airtel Among Top Gainers

Indian benchmark indices, which saw marginal gains earlier in the session, have begun to fall again. As of 11:44 am, Sensex is down 0.32% or 258.06 points to 80,538.78, while Nifty is trading at 24,361.05, down 0.41% or 100.10 points.

M&M, Hero MotoCorp, Bharti Airtel, Eicher Motors, and Bajaj Auto are among the top gainers on the Nifty, while Cipla, Adani Enterprises, Jio Financial, Shriram Finance, and Adani Ports are trading in the red.

On the sectoral front, all indices except auto and telecom are trading with losses. The BSE Midcap and Smallcap indices are down 0.5% each.

Jefferies retains ‘buy’ rating on Coforge as the company reported its Q4 results for FY25. The brokerage raised the target price to ₹9,000 from ₹7,860.

Meanwhile, Ather Energy made its debut in equity markets by listing at a premium of 2.18% at ₹328 apiece on the National Stock Exchange (NSE). However, as of 10:43 am, the shares were trading at ₹317.6 per unit, down 3.17% from the listing price.

Prashanth Tapse, Senior VP (Research), Mehta Equities said, “As expected, we see a flat listing of Ather Energy, which was justified, as the issue was aggressively priced, especially when benchmarked against peer OLA Electric. We continue to believe the electric two-wheeler (EV 2W) segment remains highly competitive and capital-intensive, with most players, including market leaders, struggling to achieve sustainable profitability and raising concern with new investors.

Given these facts and risks, we recommend a “HOLD” only to risk taking investors, who are comfortable with short- to medium-term volatility while conservative investors may still prefer a wait-and-watch, allowing the stock to settle with some reasonable valuation post-listing.

Industry being in High Growth – High Competition and High Cash Burning segment, we will see high volatility both in business as well as in the price action, hence investors should be aware of volatility & risk in short to medium term investing.”