Home » Market Spotlight » What happened in the Indian stock market today (10th May 2024)?

What happened in the Indian stock market today (10th May 2024)?

Nifty Metal index surged by 1.54% with 8,977 points. Hindustan Zinc climbed over 18.65%.

The Nifty Metal index gained a whopping 1.54% in today’s trade, soaring to a mighty 8,977 points. 

Hindustan Zinc, in particular, decided to steal the spotlight, over 18.65% to hit a record high of ₹541 apiece. 

Hindustan Copper and Vedanta decided to join the metal mayhem, gaining over 4% each in today’s intraday trade.

Impact on the stock market

IT & BPM sector-0.82%
Healthcare sector+1.02%
Oil & Gas sector+1.22%
Real estate sector-0.44%
PSU Bank in India-0.29%

Top gainers today

CompanyPriceChange (%)
BPCL share price 618.65+4.48
NTPC share price 355.50+2.73
Power Grid Corp share price  303.75+2.57
Hero Motocorp share price 4,877.40+2.36
JSW Steel share price 853.60+2.28

Top losers today

CompanyPriceChange (%)
TCS share price3,893.90-1.67
Cipla share price1,339.55-1.42
LTIMindtree share price4,607.65-1.08
Infosys share price1,424.90-1.02
Kotak Mahindra share price 1,627.95-0.92

Market aftermath: Impact on stocks

Kamat Hotels India Q4 results

Kamat Hotels India unveiled their Q4 report. Their top line got a bit of a boost, rising by 5.05%. However, the profit took a dip of 99.22% YoY. Compared with the previous quarter, revenue took a dip of 1.82%, and profit followed suit, plummeting by 94.88%.

But wait, there’s more! The Selling and Administrative expenses decided increased by 11.16% q-o-q and a whopping 29.07% YoY. The operating income took a hit as well, down by 65.89% q-o-q and 92.42% YoY. The EPS for Q4 is ₹0.74, marking a colossal drop of 98.57% YoY.

With a -6.83% return in the last week. However, they managed a respectable 31.47% return in the last 6 months, showing some signs of recovery. Yet, their Year-to-Date return is still struggling at -2.44%. As for their market cap, it’s currently sitting at ₹682.38 Cr, with a 52-week high/low of ₹372 & ₹169 respectively. In the end, Q4 profit stands at ₹2.13 Cr, while revenue clocks in at ₹84.51 Cr.

Tata Motors stock rises 2% ahead of Q4 results

Tata Power is bringing some electrifying numbers to the table with their Q4 results! Revenue surged ahead revving up by 27.24% YoY,with a 15.11% YoY increase. Administrative expenses rose by 10.49% q-o-q and a whopping 27.41% Y-o-Y. The operating income also stepped up by 3.46% q-o-q and a staggering 33.46% Y-o-Y. The EPS for Q4 at ₹2.71, marking an 11.33% Y-o-Y increase.Tata Power may have hit with a -3.16% return in the last week, but they’re still leading 70.64% return in the last 6 months and a shocking 30.98% YTD return. Tata Power has a market cap of ₹139013.3 Cr, with a 52-week high/low of ₹464.2 & ₹201.8 respectively.

The company is expected to flex its financial muscle with an EBITDA of Rs 17,527 crore for January-March, revving up over 36 percent from the previous year. Tata Motors reported an EBITDA of Rs 12,810 crore in the same quarter last year, riding high on the wave of higher operating leverage.

Asian Paints Q4 net profit rises 1.3% to Rs 1,275 crore, revenue down marginally

Ashirwad Steels & Industries is serving up Q4 results With revenue taking a dive of 50.37% YoY, Profit decided to play the hero, swooping in with a mighty 64.75% YoY increase.Compared to the previous quarter, revenue decided to pull off a miraculous comeback, growing by a jaw-dropping 150.06%, while profit strutted its stuff with a 58.7% increase. The operating income decided to go full throttle, revving up by a staggering 501.73% q-o-q! However, it seems like it hit a speed bump on the YoY track, dropping by 63.98%. The EPS for Q4. It’s shining bright at ₹0.72, marking an impressive 65.21% Y-o-Y increase.

Ashirwad Steels & Industries managed to deliver a solid 20.11% return in the last week, With a 4.01% return in the last 6 months and a 3.44% YTD return, Currently, Ashirwad Steels & Industries is flexing its muscles with a market cap of ₹64.58 Cr, with a 52-week high/low of ₹54.63 & ₹20.25 respectively. 

Q4 profit stands at ₹0.9 Cr, with Q4 revenue clocking in at ₹0.86 Cr. 

Oil prices fluctuate amid mixed market responses

The crude market Brent futures for July delivery decided to kick things up a notch, rising by a solid 46 cents to $84.34 a barrel at 0335 hours GMT on May 10. That’s a 0.56% boost from the last closing price. WTI futures for June delivery also decided to join the fun, revving up by 49 cents or 0.62% to trade at $79.75 a barrel at 03:36 hours GMT.China unleashed some impressive numbers, with exports shooting up by 1.5% in April, bouncing back from a slump of 7.5% in March.


In stock market news has been a rollercoaster ride of highs, lows, and everything in between! From Hindustan Zinc stealing the spotlight with an electrifying 18.65% surge to Tata Power bringing some serious voltage with their Q4 results, it’s been a day of financial fireworks. And let’s not forget about Ashirwad Steels & Industries. The highs of Hindustan Zinc’s record-breaking performance or weathering the storm with Tata Motors, one thing’s for sure – in the stock market, there’s never a dull moment. The crude market is like a wild horse, galloping to the beat of China’s export numbers and the whispers of potential U.S. Federal Reserve rate cuts.

Stay tuned on StockGro for more updates on market trends.

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StockGro Team

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