Top market news today - 29th October 2024

Top gainer: State Bank of India 819 ▲ 27 (+3.5%)
Top loser: Tata Motors 836 ▼ 42 (-4.8%)

:star: Stock price of Spandana Sphoorty Financial tumbled as much as 16% to ₹386.10 apiece
Shares of Spandana Sphoorty Financial tumbled as much as 16% to ₹386.10 apiece on the BSE a day after the company declared its September quarter earnings. The microfinance lender reported a consolidated loss of ₹216 crore for the quarter under review on multi-fold rise in provisions for stressed loans. The impairment charge on financial instruments for the quarter was ₹516 crore, which is significantly higher as compared with the impairment charge of ₹90 crore recorded in the same period last year, as per news reports.

:star: Jio Financial Services’s shares were trading nearly 2.7% higher at ₹325.20 apiece
Shares of Jio Financial Services were trading nearly 2.7% higher at ₹325.20 apiece on the BSE after the company informed stock exchanges that two companies—Jio BlackRock Asset Management and Jio BlackRock Trustee—have been incorporated on October 28, 2024, to carry on the primary business of mutual funds.

:star: Stock of Tata Technologies was trading nearly 1% lower at ₹990.80 on the BSE
The stock was trading nearly 1% lower at ₹990.80 on the BSE. The company on Monday reported a 1.85% decline in consolidated profit after tax at ₹157.41 crore in the first quarter ended September 30, 2024. Consolidated revenue from operations in the quarter under review stood at ₹1,296.45 crore as against ₹1,269.17 crore in the year-ago period, it added. In a separate filing, the company said it is collaborating with Air India to transform the latter’s aircraft interiors for delivering an enhanced travel experience.