Top gainer: ONGC 265 ▲ 11 (+4.52%)
Top loser: HCL Tech 1,916.70 ▼ 36 (-1.86%)
Zomato shares fall 5% as analysts raise concerns over intense competition
Shares of Zomato slipped as much as 5% to ₹264.85 apiece on the NSE as global brokerage firm Jefferies has raised concerns over rising competition in the quick commerce space. After Zomato’s shares more than doubled in value in 2024, analysts at Jefferies predict that 2025 could be a breather year, with the stock likely shifting gears into a phase of price consolidation.
ITI hits 10% lower circuit, co issues clarification on price fluctuations
Shares of ITI Ltd hit a 10% lower circuit shortly after reaching a 52-week high of ₹592.70 on the NSE on Tuesday, January 7, due to profit booking. As of 2 pm, the stock is locked in at ₹489.95, down 9.99%, as both the NSE and the BSE placed it under a short-term Additional Surveillance Measure (ASM) framework.
Shares of Tata Technologies hit 52-week low
Shares of Tata Technologies Ltd fell as much as 2% in trade on Monday to hit their 52-week low of ₹878.4 apiece on the National Stock Exchange of India (NSE). The stock has fallen more than 7% in the past month and more than 24% in the last one year. Tata Technologies shares were listed in December last year at ₹1,200 apiece, at a premium of 140% over the issue price of ₹500. Since its listing, the stock has fallen almost 27% as the company posted weaker-than-expected earnings due to tapering demand and smaller deal sizes.