After opening day on a positive note, Indian benchmark indices ended with marginal losses on Wednesday.

Benchmark Indian equity indices BSE Sensex and NSE Nifty50 ended low in Wednesday's session, weighed down by intense selling pressure in IT stocks.

At the closing bell, the BSE Sensex closed Lower by 73 points (down 0.1%)

Meanwhile, the NSE Nifty closed 27 points lower (down 0.1%)

IndusInd Bank, Tata Motors, Kotak Mahindra are among the top gainers today

Infosys, Tata Steel, and Nestle, on the other hand, were among the top losers today.

The GIFT Nifty was trading at 22,514, lower by 47 points at the time of writing.

The BSE MidCap index ended 0.6% lower, and the BSE SmallCap index ended 0.5% lower.

Sectoral indices were trading mixed, with stocks in the telecommunication and IT sectors witnessing selling pressure. Meanwhile, stocks in the auto and banking sectors are witnessing buying pressure.

The rupee is trading at Rs 87.2 against the US$.

Gold prices for the latest contract on MCX are trading 0.1% lower at Rs 86,050 per 10 grams.

Meanwhile, silver prices were trading 0.7% Higher at Rs 98,820 per 1 kg.
 

Subscriber Loss Hits Vodafone Idea Stock

In the news from the telecom sector, Vodafone Idea's stock price plummeted 6.4% on the BSE, hitting an intraday low of Rs 6.9 per share.

This significant decline was triggered by the company's substantial loss of 1,715,975 wireless subscribers in December 2024.

In stark contrast, Reliance Jio experienced a remarkable surge, adding 3,906,123 wireless subscribers to its network. Bharti Airtel also reported a notable gain, with a net addition of 1,033,009 subscribers during the same period.

Vodafone Idea's share price had dropped 5.3% to Rs 6.9 per share on the BSE. This decline brought the company's market capitalization down to Rs 49.7 billion (bn).

Notably, Vodafone Idea's stock has been trading near its 52-week low of Rs 6.6 per share. In contrast, the stock's 52-week high stood at Rs 19.2 per share, highlighting the substantial volatility in the company's share price over the past year.

Reliance Jio has consolidated its position as the market leader in broadband services, grabbing a 50.4% market share as of December 2024. Bharti Airtel and Vodafone Idea trailed behind, holding 30.6% and 13.4% shares, respectively.

Vodafone Idea's stock has been a significant underperformer, plummeting 46% over the past year. In stark contrast, the benchmark Sensex has risen 0.6% during the same period, highlighting the substantial divergence in Vodafone Idea's performance compared to the broader market.

This substantial loss of subscribers for Vodafone Idea raises concerns about the company's competitiveness in the Indian telecom market, which is dominated by Reliance Jio and Bharti Airtel.
 

Gensol Engineering Share Price Crashes Sharply

Moving on to the news from infrastructure sector, Gensol Engineering Ltd.'s share price continued its downward spiral on 12 March 2025, plummeting another 5% to hit a lower circuit for the sixth consecutive trading session.

This relentless decline has resulted in the stock losing over 50% of its value in just 12 trading sessions.

Gensol Engineering, founded in 2012, is a pioneering force in the renewable energy sector, with a strong focus on harnessing the power of solar energy.

The company specializes in providing comprehensive solar power engineering, procurement, and construction (EPC) services, catering to the needs of a rapidly growing industry.

Gensol Engineering's stock has witnessed a dramatic collapse, plummeting 75% from its all-time high of Rs 1,124 achieved last year. The downward spiral has accelerated in the first two months of this year, with the stock cratering over 64%.

In a significant development, Gensol Engineering announced on 25 February 2025, that it has entered into a non-binding agreement for a strategic transaction worth Rs 350 bn. As part of the deal, the company plans to divest its US-based subsidiary, Scorpius Trackers Inc., to a prominent renewable energy solutions provider in the US.
 

Bank Stocks Rebound with 5% Gains

Moving on to the news from banking sector, IndusInd Bank's shares staged a remarkable comeback, surging over 5% to Rs 693 apiece, thereby breaking a 5-day losing streak. This upward swing is particularly noteworthy, as it comes on the heels of a significant 27% plunge in the stock's value.

HDFC Bank's shares demonstrated resilience, posting a nearly 2% gain to trade at Rs 1,712 apiece. This upward movement marked a reversal from its previous 3-day losing streak.

Kotak Mahindra Bank's shares experienced a significant surge, jumping over 2% to trade at Rs 1,982 apiece. Earlier in the trading session, the stock reached a new milestone, hitting a 52-week high of Rs 1,998 per share.

This notable uptick highlights the stock's impressive growth trajectory, with its current price being substantially higher than its 52-week low of Rs 1,544 per share.

Despite the robust performance of HDFC Bank, Kotak Mahindra Bank, and IndusInd Bank, which propelled the bank index into positive territory, several other banking stocks were trading in the red, incurring substantial losses.

Punjab National Bank (PNB), Axis Bank, and IDFC First Bank fell over 2% each. Canara Bank and State Bank of India (SBI) declined over 1% each. Federal Bank, ICICI Bank, and Bank of Baroda also traded lower.

Overall, the mixed trend in the banking sector reflects the complex interplay of various factors, including economic indicators, regulatory developments, and investor sentiment.

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