After opening on a higher note, Indian benchmark indices ended the day with gains, extending their upward trend.

The BSE and the NSE benchmark indices swung in a narrow trading range on Tuesday as stock specific activity took centre-stage.

At the closing bell, the BSE Sensex  closed higher by 70 points (up 0.1%)

Meanwhile, the NSE Nifty closed points 7 higher.

Reliance Industries, Tech Mahindra, Infosys among the top gainers today

Sun Pharma, UltraTech Cement, and PowerGrid Corp, on the other hand, were among the top losers today.

The GIFT Nifty was trading at  24,430, higher by 39 points at the time of writing.

The BSE MidCap index ended 0.2% higher, and the BSE SmallCap index ended 0.1% higher.

Sectoral indices were trading mixed today, with stocks in the healthcare sector and the power sector witnessing selling pressure. Meanwhile, stocks in the media sector and the IT sector witness buying.

The rupee is trading at Rs 85.1 against the US$.

Gold prices for the latest contract on MCX are trading 0.7% lower at Rs 95,363 per 10 grams.

Meanwhile, silver prices were trading 0.6% higher at Rs 97,318 per 1 kg.
 

TVS Motors Shares Tanks on Weakness

In the news from the auto sector, TVS Motor's share price dropped 4% even though the company reported good profits for the January -March quarter, with mixed views on the company's future prospects.

The company's profit jumped to Rs 8.5 billion(bn), an increase of 76% from the same quarter last year. Their sales income also grew by 17% to Rs 95.5 bn.

The company's profit increased despite the struggle in its motorcycle segment. The scooter category performed well but the overall demand for two-wheeler slowed after the festive season.

TVS is optimistic about growth this financial year, expecting the two-wheeler industry to perform well due to factors like auspicious wedding dates, normal monsoons, increased infrastructure spending and steady rural demand.

TVS is performing well in scooter segments but also faces challenges in motorcycle segment.

However, they expect strong growth in international markets, especially in Latin America and Africa.

Bajaj Shares Drops Pre Results

Moving on to the news from finance sector, Bajaj finance shares fell ahead of the board meeting where they will announce quarterly results and likely declare dividend, bonus shares and stock split.

The company might split its shares, dividing existing shares with face value of Rs 2 each.

Bajaj Finance made a profit of Rs 43.1 bn in the December quarter, which is 18% more than the same period last year. Their total earnings also went up to Rs 180.6 bn from 141.7 bn.

Bajaj finance is a lending company that provides loan to individuals, small business and commercial customers across India both in cities and rural areas. They also accept deposits and offer various financial services to their customers.
 

ED Raids Impact Gensol's Share Price

Moving on to the news from engineering sector, Gensol Engineering share price drops 5% after the Enforcement Directorate raided its offices in Ahmedabad and Gurugram.

The Enforcement Directorate (ED) is strengthening its investigation into Gensol Engineering, a solar and engineering company.

The ED Seized documents and records. They issued order against the company and several banks including Axis bank, HDFC, ICICI under foreign exchange and income tax laws.

SEBI restricted Gensol's promoters from the securities due to alleged misuse and corporate governance issues.

The shares of the company have lost over 50% so far this month.

Gensol Engineering is an Indian company that offers engineering, procurement and construction services for solar projects, along with electric vehicle leasing and manufacturing. The company is setting up an electric vehicle manufacturing plant in Pune with an initial capacity of around 12000 cars per year.
 

Shipbuilding Shares Soar to New Heights

Moving on to the news from industrial sector, Shipbuilding company shares surges, increasing up to 14%.

Garden Reach Shipbuilders share price jumped 14% to Rs 1990. The trading volume was four time higher than usual, with 11.3 million shares traded.

Shares of Cochin shipyard rose 11% to Rs 1677.8

Garden Reach shipbuilders stock surges 23% in just two days after the company announced it would lease a land parcel at Timber Pond, Howrah from Syama prasad port for 30y years.

Mazagaon Dock Shipbuilders (MDL) share price also jumped 58% from its lowest point in February which was Rs 1917.5.

MDL is a key player in India's defence sector, building submarines and warships, including destroyers and frigates for the Indian Navy. They currently have the capacity to construct 11 submarines and 1o warships simultaneously.

The Union Budget 25-26 is set to boost India's shipbuilding industry with key provision, including a Rs 250 bn maritime fund, a revamped shipbuilding policy with 1809 bn funding and classifying large ships as an infrastructure asset.

India has potential to become a major shipbuilding hub due to its expertise in heavy engineering, long coastline, affordable labour and further supported by new bills.

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