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Nifty 50 closed at 24,466.85 (127.7, 0.5%), BSE Sensex closed at 80,369.03 (364.0, 0.5%) while the broader Nifty 500 closed at 22,795.05 (145.1, 0.6%). Market breadth is in the green. Of the 2,299 stocks traded today, 1,385 were on the uptrend, and 886 went down.

Indian indices closed in the green after paring their losses in the afternoon session. The Indian volatility index, Nifty VIX, rose 1.6% and closed at around 14.5 points. Maruti Suzuki closed sharply lower as its net profit declined by 18.1% YoY to Rs 3,102.5 crore in Q2FY25. However, revenue grew 1.9% YoY to Rs 38,972.4 crore.

Nifty Midcap 100 and Nifty Smallcap 100 closed higher.  Nifty PSU Bank and BSE Realty were among the top-performing indices today. According to Trendlyne’s sector dashboard, Banking & Finance emerged as the best-performing sector of the day, with a rise of 2.2%.

European indices traded higher. Major Asian indices closed in the green. US index futures traded mixed, indicating a cautious start to the trading session in anticipation of results from Alphabet (Google), Visa, Advanced Micro Devices, and Novartis AG.

• Relative strength index (RSI) indicates that stocks like IndusInd Bank, Indraprastha Gas, and CreditAccess Grameen are in the oversold zone.

• Ami Organics surges to its all-time high of Rs 1,890 per share as it posts a net profit of Rs 37.3 crore in Q2FY25 compared to a net loss of Rs 18.9 crore in Q2FY24. Revenue grows by 46.8% YoY to Rs 255.2 crore due to improvements in the pharmaceutical intermediates and specialty chemicals segments. It features in a screener of stocks with share prices above the short, medium, and long-term moving averages.

• Canara Bank's revenue increases 10.3% YoY to Rs 34,721.1 crore in Q2FY25, driven by growth in retail banking, wholesale banking, and treasury operations. Net profit rises 11.3% YoY to Rs 4,014.5 crore, helped by lower provisions. The bank's asset quality also improves, with gross and net NPAs declining by 103 bps and 42 bps YoY, respectively.

• Cipla's Q2FY25 net profit grows by 15.2% YoY to Rs 1,302.5 crore due to lower finance costs. Revenue rises by 5.6% YoY to Rs 7,241.6 crore, driven by the pharmaceuticals segment. It appears in a screener of stocks with improving return on capital employed (RoCE) over the past two years.

• Most analysts covering Bharat Heavy Electricals (BHEL) remain cautious to bearish on the stock despite its unexpected net profit in Q2. CLSA maintains its 'underperform' rating with a price target of Rs 189, noting that the key catalyst of its inclusion in global passive indices has passed. Additionally, Larsen & Toubro's recent entry into the thermal power equipment market raises concerns about BHEL's market dominance.

  #CNBCTV18Market | Analysts hold a cautious to bearish view on #BHEL, despite its surprise net profit in Q2, which defied predictions of a net loss
  
  Here's why | #StockMarket#stockmarketindia#StocksToTrade#StocksInFocus#StocksToFocushttps://t.co/LTDyHuNPS1

  — CNBC-TV18 (@CNBCTV18News) October 29, 2024

• Adani Ports' net profit surges 36.9% YoY to Rs 2,412.5 crore in Q2FY25, helped by a deferred tax credit of Rs 132.5 crore. Revenue increases 6.3% YoY to Rs 7,067 crore due to improvements in port and special economic zone activities. It appears in a screener of stocks with improving book value per share over the past two years.

• Maruti Suzuki falls sharply as its net profit declines by 18.1% YoY to Rs 3,102.5 crore in Q2FY25, caused by higher raw materials, finance, and employee benefits expenses. However, revenue grows by 1.9% YoY to Rs 38,972.4 crore, driven by sales in the international market. It shows up in a screener of stocks with growing costs YoY for long-term projects.

• Quess Corp falls sharply as its Q2FY25 net profit misses Forecaster estimates by 11.1%, despite rising 32% YoY to Rs 93.6 crore. Revenue grows by 9.1% YoY to Rs 5,179.4 crore, helped by improvements in the workforce & operating asset management and global technology solutions segments. It shows up in a screener of stocks underperforming their industry price change during the quarter.

• Ramco Cements’ board approves the sale of 1.4 crore shares of Ramco Industries worth approx. Rs 330 crore to Rajapalayam Mills and Ramco Management.

  Ramco Cements in focus
  Co to sell 1.4cr shares of Ramco Industries
  Buyers ???? Rajapalayam Mills Limited (RML) & Ramco Management Private Limited (RMPL)
  
  Analysis
  ???? Sale of Ramco Indsutries will unlock approx. 330cr
  ????Net debt for Ramco Cements as of 1QFY25 Rs.4970cr
  ???? Was also… pic.twitter.com/AYwqZE9KGK

  — Nigel D'Souza (@Nigel__DSouza) October 29, 2024

• Motilal Oswal maintains its 'Buy' call on Bharat Electronics with a target price of Rs 360 per share. This indicates a potential upside of 30.3%. The brokerage believes the company will benefit from the ramp-up in defence orders for naval, electronic warfare (EW) systems, artillery systems, and platforms. It expects the firm's revenue to grow at a CAGR of 19.2% over FY25-27

• Spandana Sphoorty Financial plunges over 16% to its 52-week low of Rs 375 as it reports a net loss of Rs 216.3 crore in Q2FY25. Net loss is due to higher finance costs, impairment of financial instruments, and employee benefit expenses. However, revenue grows 12.5% YoY to Rs 686.4 crore during the quarter. It features in a screener of stocks with increasing debt.

• Ajanta Pharma's Q2FY25 revenue rises 15.4% YoY to Rs 1,186.6 crore, beating the Forecaster estimates by 5.3%. Net profit grows 10.8% YoY to Rs 216.5 crore during the quarter. The company appears in a screener for stocks where mutual funds increased their shareholding in the past quarter.

• India's smaller companies face a downturn as weak earnings and a muted economic outlook affect their shares. Key mid-sized and small-cap stock indices are close to a technical correction due to high valuations. This decline follows investors shifting their focus to cheaper Chinese stocks. The MSCI India Index is valued at around 22 times its one-year forward earnings, nearly double the MSCI China Index.

  The tide is turning against India’s smaller companies as weak earnings and a souring economic outlook spur a downturn in their shares.https://t.co/kb4A6SeexB

  — ETMarkets (@ETMarkets) October 29, 2024

• Federal Bank rises sharply as its net profit grows 10.8% YoY to Rs 1,056.7 crore in Q2FY25. Revenue increases 21.9% YoY to Rs 7,541.2 crore owing to improvements in the treasury, corporate, and retail banking segments. The bank's asset quality improves as its gross and net NPAs decline by 17 bps YoY and 7 bps YoY, respectively.

• Tata Consultancy Services (TCS) secures a 15-year contract with Ireland's Department of Social Protection to implement the 'My Future Fund' auto-enrolment retirement savings scheme. TCS will provide digital solutions for the enrolment, record management, and benefit disbursement of nearly 800K workers.

• Gillette India rises sharply as its Q2FY25 revenue rises 17.1% YoY to Rs 781.8 crore, driven by an improvement in the grooming segment. Net profit grows 43.5% YoY to Rs 133 crore during the quarter. It appears in a screener of stocks with growing quarterly net profit and profit margin.

• In its latest monthly economic review, the Finance Ministry highlights growing worries about weakening consumer sentiment and declining demand, especially in urban areas of India. It also reports a slowdown in industrial activity in recent months but expects the economy will grow between 6.5% and 7% during 2024-25.

  The Finance Ministry’s latest monthly economic review points to evidence of a slowdown in urban demand as reflected in the performance of various indicators during the first half of FY25. @tragicosmicomic reports. https://t.co/hD7rBVLmaX

  — The Hindu (@the_hindu) October 28, 2024

• Suzlon Energy's net profit surges by 95.7% YoY to Rs 200.2 crore in Q2FY25, helped by inventory destocking. Revenue increases 48.5% YoY to Rs 2,121.2 crore owing to improvements in the wind turbine generator and operation & maintenance segments. It features in a screener of companies reducing debt.

• Tata Technologies' Q2FY25 revenue rises 2.1% YoY to Rs 1,296.5 crore, helped by improvement in the services segment. However, net profit falls 1.9% YoY to Rs 157.4 crore due to higher employee benefits costs and tax expenses. The company appears in a screener of stocks with PE higher than industry PE.

• Indraprastha Gas's Q2FY25 net profit declines by 17.7% YoY to Rs 454.9 crore due to higher raw materials and excise duty costs. However, revenue grows by 7.4% YoY to Rs 4,171.4 crore, driven by increased sales of CNG and PNG. It appears in a screener of stocks which lost more than 20% in the past month.

• Food and grocery delivery major Swiggy reportedly sets its IPO price band at Rs 371-390 per share. The issue size is Rs 11,300 crore, with a fresh issue worth Rs 4,500 crore and an offer for sale of around Rs 6,800 crore. The issue will likely open on November 6.

  #Swiggy is set to raise ?11,300 crore through its IPO, which will open for public subscription on November 6. The price band of the upcoming IPO will be priced in the range of ?371 to ?390 each, as per a report. #SwiggyIPO
  
  Read more: https://t.co/mGdAEj2W1spic.twitter.com/iJlttwSv7r

  — Mint (@livemint) October 28, 2024

• Tata Power Co acquires a 40% stake in Bhutan-based Khorlochhu Hydro Power (KHPL) for approximately Rs 830 crore. This investment supports Tata Power's clean energy goals, involving the 600 MW Khorlochhu Hydropower Project valued at Rs 6,900 crore.

• JSW Infrastructure rises sharply as its net profit grows by 46% YoY to Rs 371.5 crore in Q2FY25, owing to lower employee benefits and finance costs. Revenue increases by 21.5% YoY to Rs 1,088.2 crore, attributed to higher handled cargo volumes. It features in a screener of stocks with growth in quarterly net profit and margin (YoY).

• Bharti Airtel is falling as its net profit misses Forecaster estimates by 14.8% despite surging 168% YoY to Rs 3,593.2 crore in Q2FY25. Revenue grows by 11.6% YoY to Rs 41,728 crore, helped by improvements in the Indian mobile services, Airtel business, and home services segments. It shows up in a screener of stocks with declining net cash flow.

• Kalpataru Projects is rising as its revenue grows by 9.1% YoY to Rs 4,929.9 crore in Q2FY25, led by improved execution in the transmission & distribution, buildings & factories, oil & gas, and urban infra businesses. Net profit increases 41% YoY to Rs 125.5 crore during the quarter. The company shows up in a screener of stocks where FII / FPI or institutions are increasing their shareholding.

• Nifty 50 was trading at 24,270.70 (-68.5, -0.3%), BSE Sensex was trading at 80,042.52 (37.5, 0.1%) while the broader Nifty 500 was trading at 22,611.25 (-38.7, -0.2%).

• Market breadth is in the green. Of the 1,906 stocks traded today, 1,067 were on the uptrend, and 791 went down.

Riding High:

Largecap and midcap gainers today include JSW Infrastructure Ltd. (316, 10.0%), Vedant Fashions Ltd. (1,357.70, 8.5%) and Federal Bank Ltd. (200.70, 8.5%).

Downers:

Largecap and midcap losers today include Tata Motors Ltd. (842.75, -4.1%), Maruti Suzuki India Ltd. (11,046, -3.8%) and Dabur India Ltd. (535.85, -3.2%).

Crowd Puller Stocks

14 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Gillette India Ltd. (9,402.50, 10.4%), JSW Infrastructure Ltd. (316, 10.0%) and Vedant Fashions Ltd. (1,357.70, 8.5%).

Top high volume losers on BSE were Sapphire Foods India Ltd. (325.60, -4.9%), KSB Ltd. (792.90, -4.8%) and Maruti Suzuki India Ltd. (11,046, -3.8%).

Kalpataru Projects International Ltd. (1,241.60, 5.4%) was trading at 12.9 times of weekly average. Federal Bank Ltd. (200.70, 8.5%) and Sumitomo Chemical India Ltd. (553.10, 7.5%) were trading with volumes 8.6 and 6.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

6 stocks made 52 week highs, while 5 stocks tanked below their 52 week lows.

Stocks touching their year highs included - City Union Bank Ltd. (176.92, 2.9%), Deepak Fertilisers & Petrochemicals Corporation Ltd. (1,231.95, 9.1%) and Gillette India Ltd. (9,402.50, 10.4%).

Stocks making new 52 weeks lows included - Astral Ltd. (1,759.90, -2.0%) and IndusInd Bank Ltd. (1,038.15, -1.6%).

22 stocks climbed above their 200 day SMA including JSW Infrastructure Ltd. (316, 10.0%) and Indian Bank (581, 5.4%). 18 stocks slipped below their 200 SMA including Ashok Leyland Ltd. (208.15, -1.8%) and Cipla Ltd. (1,477.55, -1.7%).

Nifty 50 closed at 24,339.15 (158.4, 0.7%), BSE Sensex closed at 80,005.04 (602.8, 0.8%) while the broader Nifty 500 closed at 22,649.95 (150.9, 0.7%). Market breadth is in the green. Of the 2,337 stocks traded today, 1,539 were on the uptick, and 777 were down.

Indian indices closed in the green, with the benchmark Nifty 50 index closing at 24,339.2 points.  The Indian volatility index, Nifty VIX, fell 2.3% and closed at around 14.3 points. Waaree Energies’ shares made their debut on the bourses at a 66.3% premium to the issue price of Rs 1,503. The Rs 4,321.4 crore IPO received bids for 76.3 times the total shares on offer.

Nifty Midcap 100 and Nifty Smallcap 100 closed higher. Nifty FMCG and Nifty Metal closed in the green. According to Trendlyne’s sector dashboard, Consumer Durables emerged as the best-performing sector of the day, with a rise of 3.8%.

European indices traded mixed. Major Asian indices closed mixed. US index futures traded mixed, indicating a cautious start to the trading session. Spirit Airlines reached an agreement to sell 23 older Airbus aircraft worth around $519 million to GA Telesis. The low-cost airline also announced plans to cut about $80 million in annual costs by reducing its workforce as part of its cost-cutting initiatives.

• Money flow index (MFI) indicates that stocks like IndusInd Bank, Indraprastha Gas, and Nestle India are in the oversold zone.

• Sun Pharmaceutical Industries' rises as its Q2FY25 net profit grows 28% YoY to Rs 3,040.2 crore, beating the Forecaster estimates by 5.8%. Revenue increases 9% YoY to Rs 13,291.4 crore during the quarter. The company appears in a screener of stocks with increasing profits over the past four quarters.

• Bharat Heavy Electricals is rising as it posts a net profit of Rs 106.2 crore in Q2FY25 compared to a net loss of Rs 63 crore in Q2FY24. Revenue grows by 26.2% YoY to Rs 6,695.4 crore owing to the power and industry segments. It features in a screener of stock with the highest recovery from their 52-week lows.

• KR Choksey downgrades IndusInd Bank to 'Hold' from 'Buy' with a lower target price of Rs 1,305 per share. This indicates a potential upside of 22.6%. The brokerage believes the bank's operating growth will slow down with rising credit costs due to concerns in the unsecured loan and microfinance segments. It expects the lender's net interest income (NII) to grow at a CAGR of 11.9% over FY25-26.

• According to Anarock, the real estate sector has accounted for more than 17% of QIP (qualified institutional placement) issuances across various sectors, making it the second largest contributor after the renewable energy sector. In the first nine months of 2024, developers raised Rs 12,801 crore.

  The real estate sector has contributed over 17% of QIP issuance across sectors, second most after the renewable energy sector, with developers raising Rs 12,801 crore in the first nine months of 2024.https://t.co/1yDurSdSbb

  — ETMarkets (@ETMarkets) October 28, 2024

• Shakti Pumps surges to its 5% upper circuit as its revenue grows 4.2X to Rs 634.6 crore driven by an improvement in the domestic market. Net profit surges 16.6X YoY to Rs 101.2 crore during the quarter. The company appears in a screener of stocks with book value per share improving over the past two years.

• Ambuja Cements rises sharply as its Q2FY25 revenue beats Forecaster estimates by 10.5% despite remaining flat at Rs 7,890.1 crore. Net profit declines by 42.5% YoY to Rs 456 crore due to higher raw materials, inventory, employee benefits, finance, and freight & forwarding expenses. It features in a screener of stocks with rising net cash flow and cash from operating activities.

• Torrent Pharmaceuticals' falls as its Q2FY25 revenue misses Forecaster estimates by 2.5% despite rising 8.6% YoY to Rs 2,889 crore. Net profit grows by 17.4% YoY to Rs 453 crore, but misses estimates by 8%. It shows up in a screener for stocks where mutual funds decreased their shareholding in the past quarter.

• Debadatta Chand, MD of Bank of Baroda, highlights the bank’s asset quality has improved in Q2FY25. He projects deposit growth of 9-10% and credit growth of around 12% for FY25. Chand adds the bank maintains its margin guidance of ~3.1% for the year.

  #OnCNBCTV18 | ????? Q2 was one of the best quarters in terms of asset quality. Maintain margin guidance of approx 3.15% for FY25.
  
  We don’t have any plan to raise equity
  
  -Debadatta Chand of Bank Of Baroda tells #CNBCTV18pic.twitter.com/99hrDHTCib

  — CNBC-TV18 (@CNBCTV18Live) October 28, 2024

• Inox Wind is rising as it posts a net profit of Rs 92.9 crore in Q2FY25 compared to a net loss of Rs 24.1 crore in Q2FY24 due to lower finance and EPC, O&M, & common infrastructure facility expenses. Revenue surges by 93% YoY to Rs 741.7 crore, attributed to higher project execution and order wins. It features in a screener of stocks with increasing profits for the past four quarters.

• NBCC (India) is rising as it bags multiple work orders worth approx. Rs 1,726 crore from the Government of Goa. The orders include the redevelopment of Junta House, Govt. Garage and Circuit House in Panjim, a Mini Convention Centre at Tiswadi, and others.

• Macrotech Developers is rising as its net profit surges by 109.5% YoY to Rs 422.9 crore in Q2FY25 owing to a tax return of Rs 136.8 crore. Revenue grows by 53% YoY to Rs 2,684.6 crore, driven by higher collections and pre-sales. It appears in a screener of stocks with high trailing twelve-month (TTM) EPS growth.

• Amit Paithankar, CEO of Waaree Energies, says the company currently operates with a 15% margin, which he expects to improve over the next two years. He expects a boost in margins due to backward integration and strong demand in India and the US. Paithankar also highlights that the current order book totals 16.7 GW.

  Waaree Energies says
  
  ???? EBITDA will continue to grow as prospects are strong
  
  Scope for margins to improve to 18%+ on
  ???? Backward Integration
  ???? Robust demand#StockMarkethttps://t.co/i23DOEzJJy

  — Nigel D'Souza (@Nigel__DSouza) October 28, 2024

• Shriram Finance rises sharply as its Q2FY25 revenue grows 17.9% YoY to Rs 10,089 crore, helped by higher interest and fees & commission income. Net profit increases by 20.6% YoY to Rs 2,153.3 crore during the quarter. It shows up in a screener of stocks outperforming their industry price change during the quarter.

• KRN Heat Exchanger and Refrigeration's wholly owned subsidiary, KRN HVAC Products, signs an MoU with the Government of Rajasthan to invest Rs 1,000 crore in a heat exchanger plant in Kotputli-Behror.

• Bank of Baroda is rising as its net profit grows by 23.2% YoY to Rs 5,237.9 crore in Q2FY25. Revenue increases by 10.7% YoY to Rs 35,444.7 crore, attributed to improvements in the treasury, retail, and wholesale banking segments. The bank's asset quality improves as its gross and net NPAs decline by 82 bps YoY and 16 bps YoY, respectively.

• HSBC lowers its target price for Ola Electric Mobility to Rs 110, from Rs 140 earlier, while retaining a ‘Buy’ rating. The brokerage cites slowing two-wheeler penetration, tight competition from low-cost models like Bajaj Auto's Chetak 2903 and TVS Motor's iQube 2.2kWh, and ongoing service issues.

  #OlaElectricMobility receives target price cut on its stock from prominent investment bank #HSBC.
  
  Read??https://t.co/LyyR6erWWj

  — NDTV Profit (@NDTVProfitIndia) October 28, 2024

• Coal India is falling as its net profit declines by 21.9% YoY to Rs 6,289.1 crore in Q2FY25 due to higher raw materials, employee benefits, and finance costs. Revenue falls by 7.4% YoY to Rs 32,177.9 crore, caused by lower production and offtake of raw coal. It features in a screener of stocks with declining cash flow from operations in the past two years.

• Deepak Builders & Engineers’ shares debut on the bourses at a 1.5% discount to the issue price of Rs 203. The Rs 260 crore IPO received bids for 41.5 times the total shares on offer.

• Waaree Energies' shares debut on the bourses at a 66.3% premium to the issue price of Rs 1,503. The Rs 4,321.4 crore IPO received bids for 76.3 times the total shares on offer.

• HSBC maintains its 'Buy' rating on Shriram Finance with a higher target price of Rs 3,725. The brokerage cites strong Q2 performance, noting that the firm is experiencing its most convincing operational period since 2010. It highlights all metrics were robust, with no weakness in asset quality or growth. Shriram Finance's net profit increased by 20.6% YoY to Rs 2,153.3 crore, while its revenue grew by 13.5% YoY.

  #BrokerageRadar | HSBC on Shriram Finance: Maintain Buy; Hike target price to Rs 3725 from Rs 3600@HSBCpic.twitter.com/vBmHAJnbY1

  — ET NOW (@ETNOWlive) October 28, 2024

• Titagrah Rail Systems' Q2FY25 revenue rises by 13% YoY to Rs 1,057 crore, helped by an improvement in the freight rail segment. Net profit grows by 14.1% YoY to Rs 79.9 crore during the quarter. It features in a screener of stocks with growing quarterly net profit and profit margin (YoY).

• DLF rises sharply as its net profit surges by 121.8% YoY to Rs 1,381.1 crore in Q2FY25, helped by a deferred tax return of Rs 504.7 crore. Revenue grows by 47.7% YoY to Rs 2,180.8 crore during the quarter. It features a screener of stocks with dividend yields higher than sector dividend yields.

• Bandhan Bank surges as its Q2FY25 net profit grows 30% YoY to Rs 937.4 crore, helped by lower provisions. Revenue rises by 21.1% YoY to Rs 6,094.5 crore, owing to improvements in the treasury, retail, and wholesale banking segments. The bank's asset quality improves as its gross and net NPAs decline by 264 bps YoY and 103 bps YoY, respectively.

• InterGlobe Aviation falls sharply as it posts a net loss of Rs 986.7 crore in Q2FY25 compared to a net profit of Rs 188.9 crore in Q2FY24 due to higher aircraft fuel, aircraft & engine rental, airport charges, employee benefits, and finance costs. However, revenue grows by 14.6% YoY to Rs 17,759 crore, driven by higher capacity and passengers carried. It shows up in a screener of stocks linked to ongoing regulatory investigations or legal cases.

• Markets are up today morning. Nifty 50 was trading at 24,243.05 (62.3, 0.3%), BSE Sensex was trading at 79,815.18 (412.9, 0.5%) while the broader Nifty 500 was trading at 22,515.50 (16.5, 0.1%).

• Market breadth is in the red. Of the 1,976 stocks traded today, 871 were on the uptrend, and 1,048 went down.

Riding High:

Largecap and midcap gainers today include Indian Bank (551.45, 10.6%), Bandhan Bank Ltd. (184.81, 9.9%) and Canara Bank (100.69, 6.8%).

Downers:

Largecap and midcap losers today include InterGlobe Aviation Ltd. (4,015.45, -8.0%), Cholamandalam Investment & Finance Company Ltd. (1,280.35, -6.7%) and Torrent Power Ltd. (1,829.05, -4.9%).

Volume Rockets

20 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Indian Bank (551.45, 10.6%), Archean Chemical Industries Ltd. (651.80, 9.2%) and Poonawalla Fincorp Ltd. (319.65, 7.6%).

Top high volume losers on BSE were InterGlobe Aviation Ltd. (4,015.45, -8.0%), Cholamandalam Investment & Finance Company Ltd. (1,280.35, -6.7%) and JBM Auto Ltd. (1,506.65, -4.1%).

Zydus Wellness Ltd. (1842.65, 2.4%) was trading at 9.6 times of weekly average. Rainbow Childrens Medicare Ltd. (1,495, 5.2%) and CreditAccess Grameen Ltd. (957.45, -2.5%) were trading with volumes 7.7 and 5.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

3 stocks made 52 week highs, while 12 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Deepak Fertilisers & Petrochemicals Corporation Ltd. (1,129.20, -0.4%), Firstsource Solutions Ltd. (372.55, 12.0%) and Coforge Ltd. (7,705.35, -0.5%).

Stocks making new 52 weeks lows included - IDFC First Bank Ltd. (67.13, 2.5%) and Mahindra Lifespace Developers Ltd. (490.05, -0.9%).

26 stocks climbed above their 200 day SMA including Indian Bank (551.45, 10.6%) and Archean Chemical Industries Ltd. (651.80, 9.2%). 21 stocks slipped below their 200 SMA including InterGlobe Aviation Ltd. (4,015.45, -8.0%) and Cholamandalam Investment & Finance Company Ltd. (1,280.35, -6.7%).

• Relative strength index (RSI) indicates that stocks like Indraprastha Gas, Hindustan Unilever, and Nestle India are in the oversold zone.

• Hindustan Petroleum Corp's net profit plunges by 97.6% YoY to Rs 142.7 crore in Q2FY25 due to higher raw material, inventory, excise duty, and finance costs. However, revenue grows by 5.6% YoY to Rs 1.1 lakh crore, helped by an improvement in the downstream petroleum segment. It features in a screener for stocks where mutual funds increased their shareholding in the past quarter.

• Patanjali Foods' Q2FY25 net profit grows 21.4% YoY to Rs 309 crore, helped by lower raw materials and finance costs. Revenue increases by 4.5% YoY to Rs 8,198.5 crore during the quarter, attributed to the edible oils segment. It features in a screener of stocks with rising net profit margins (QoQ and TTM).

• Finolex Industries is falling as its net profit misses Forecaster estimates by 65.7% as it declines 58.5% YoY to Rs 40.7 crore in Q2FY25. Revenue decreases 6.2% YoY to Rs 828.4 crore due to volatility in PVC price, and prolonged monsoon during the quarter. The company appears in a screener of stocks with increasing profits every quarter for the past two quarters.

• The Reserve Bank of India (RBI) approves the re-appointment of Amitabh Chaudhry as the Managing Director & CEO of Axis Bank for three more years, effective January 1. The bank's shareholders had approved Chaudhry’s re-appointment at the 30th Annual General Meeting on July 26.

  RBI approves re-appointment of Amitabh Chaudhry as MD & CEO of Axis Bank for three years https://t.co/EhI5UfMmUd

  — Business Today (@business_today) October 25, 2024

• Atul's Q2FY25 revenue grows 16.7% YoY to Rs 1,392.8 crore, driven by improvements in life science chemicals and performance & other chemicals segments. Net profit increases 51.5% YoY to Rs 136.8 crore during the quarter. The company features in a screener of stocks with growing quarterly net profit and profit margin (QoQ).

• Indian Energy Exchange's net profit grows by 25.3% YoY to Rs 108.3 crore in Q2FY25. Revenue rises by 26.2% YoY to Rs 167.8 crore, helped by higher industrialization and consumer demand. It features in a screener of stocks with increasing revenue for the past four quarters.

• Oracle Financial Services Software's net profit fell 6.3% QoQ to Rs 577.7 crore. Revenue declines 3.9% QoQ to Rs 1,673.9 crore, driven by lower sales from product licenses and related activities segments during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding in the last month.

• Reliance Jio reports a reduction of 40.2 lakh wireless subscribers on a net basis in August, while Bharti Airtel loses 24.1 lakh. Vodafone Idea’s subscribers also decline, with a loss of 18.7 lakh on a net basis.

  India lost 57.7 lakh mobile subscribers in August vs 9.2 lakh in July: Telecom Regulatory Authority of India
  
  For the latest news and updates, visit: https://t.co/by4FF5oyu4pic.twitter.com/MVTFi8Zk8u

  — NDTV Profit (@NDTVProfitIndia) October 25, 2024

• Petronet LNG's revenue grows 3.9% YoY to Rs 13,024.3 crore, missing Trendlyne's Forecaster estimates by 1.6%. Net profit rises by 1.4% YoY to Rs 863.2 crore during the quarter. The company appears in a screener of stocks with revenue declining over the past two quarters.

• CIE Automotive India is falling as its net profit declines by 48% YoY to Rs 195.2 crore in Q2FY25 due to higher profit in Q2FY24 from discontinued operations. Revenue declines by 6.1% to Rs 2,158.9 crore due to a reduction in the Indian and European markets. It shows up in a screener of stocks with high market cap and lower public shareholding.

• Bikaji Foods International rises sharply as its net profit grows 13% YoY to Rs 69.2 crore in Q2FY25, helped by inventory destocking. Revenue increases 15.8% YoY to Rs 704 crore during the quarter. However, EBITDA margin declines by 150 bps. The company appears in a screener of stocks with book value per share improving over the past two years.

• Grain-based distilleries are urging the Centre to instruct oil marketing companies (OMCs) to raise the procurement price of ethanol made from maize and damaged food grains to prevent heavy losses. CK Jain, President of the Grain Ethanol Manufacturers Association, notes current maize prices have led to losses of about Rs 10.3 per litre for dedicated ethanol plants, with damaged food grains at around Rs 10.2 per litre. He called for an immediate price increase for ethanol procurement by Rs 4-5 per litre.

  Grain-based distilleries have asked the Centre to direct #OMCs to urgently raise the procurement price of #ethanol produced from maize and damaged #foodgrains to save them from incurring heavy losses in running their plants.@sanjeebm77https://t.co/9STc8rgXThpic.twitter.com/5V2Pj22f63

  — Business Standard (@bsindia) October 25, 2024

• Larsen & Toubro secures an order worth Rs 1,000-2,500 crore from the ITER Organisation, an intergovernmental body headquartered in France. The contract involves deploying advanced technologies to assemble ports and complex components with the Vacuum Vessel at the world’s largest nuclear fusion project in Cadarache, Southern France.

• Cyient rises sharply as its Q2FY25 net profit grows 24.5% QoQ to Rs 179.1 crore. Revenue increases 12% QoQ to Rs 1,900.2 crore, helped by improvements in the digital, engineering & technology (DET) and design-led manufacturing (DLM) segments. It shows up in a screener of stocks with rising net cash flow and cash from operating activity.

• Insolation Energy’s subsidiary, Insolation Green Energy, secures a Rs 208.3 crore order from Zetwerk Manufacturing to supply 550 Wp solar PV modules for NTPC’s Khavada site in Gujarat, to be completed by FY25.

• Radico Khaitan delivers strong performance in the Prestige & Above (P&A) segment, with volumes rising by 12.6% to 3.2 million cases in Q2FY25. P&A net sales increased 18% to Rs 578 crore, contributing 75.7% to overall sales, up from 70%. However, the company's total Indian Made Foreign Liquor (IMFL) volumes declined by 2.5%, totaling 6.78 million cases in Q2.

  #RadicoKhaitan shares jump after Prestige & Above shines, strong commentary
  
  Read more here:https://t.co/QNf2dw5WREpic.twitter.com/T5QbmiI2Kw

  — CNBC-TV18 (@CNBCTV18Live) October 25, 2024

• PNB Housing Finance is rising as its net profit grows 22.6% YoY to Rs 469.7 crore in Q2FY25, driven by better management of financial losses and write-offs. Revenue increases 5.7% YoY to Rs 1,878.7 crore during the quarter. It features in a screener of stocks with zero promoter pledge.

• Adani Ports & Special Economic Zone's subsidiary, The Adani Harbour International DMCC, acquires an 80% stake in Astro Offshore group for a consideration of $194.8 million (approx. Rs 1,637.6 crore).

• DCB Bank is rising as its net profit grows 22.6% YoY to Rs 155.5 crore in Q2FY25. Revenue increases 20.1% YoY to Rs 1,568.4 crore, driven by improvements in the treasury, corporate, and retail banking segments during the quarter. The bank's asset quality improves as its gross and net NPAs contract by 7 bps and 11 bps YoY, respectively.

• Investec maintains its ‘Hold’ rating on IndusInd Bank with a target price of Rs 1,410. The brokerage highlights that muted growth in MFI and stress in credit cards impacted NIMs (net interest margins) and fee income. Investec believes the bank may need a few more quarters to improve its fundamentals. The next key trigger will be the CEO decision from RBI.

  #BrokerageRadar | Investec on IndusInd Bank maintains Hold; cuts target price to Rs 1410 from Rs 1560@Investecpic.twitter.com/kyi5zCYWbf

  — ET NOW (@ETNOWlive) October 25, 2024

• Dixon Technologies rises to its all-time high of Rs 15,900 per share as its net profit surges by 3.6x YoY to Rs 389.9 crore in Q2FY25. Revenue grows by 2.3x YoY to Rs 11,528.4 crore during the quarter. It features in a screener of stocks with book value per share improving over the past two years.

• NTPC is falling as its revenue misses Forecaster estimates by 5.1% after declining marginally to Rs 44,696.3 crore in Q2FY25. However, net profit increases 14.3% YoY to Rs 5,274.6, driven by lower fuel costs and electricity purchases during the quarter. The company appears in a screener of stocks outperforming their industry price change in the quarter.

• Coromandel International is falling as its net profit declines by 12.3% YoY to Rs 664.1 crore in Q2FY25 due to higher raw materials, employee benefits, and freight & distribution expenses. However, revenue grows by 6.6% YoY to Rs 7,497.8 crore, driven by the nutrient & other allied businesses and crop protection segments. It appears in a screener of stocks where promoters are decreasing their shareholding.

• Godrej Consumer Products' net profit grows 13.5% YoY to Rs 491.3 crore in Q2FY25, attributed to inventory destocking and lower raw material costs. Revenue increases 1.8% YoY to Rs 3,666.3 crore, driven by higher sales from India and Indonesia during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

• Nifty 50 was trading at 24,412.95 (13.6, 0.1%) , BSE Sensex was trading at 80,187.34 (122.2, 0.2%) while the broader Nifty 500 was trading at 22,782.85 (-5, 0.0%)

• Market breadth is in the red. Of the 1,894 stocks traded today, 758 were in the positive territory and 1,084 were negative.

Riding High:

Largecap and midcap gainers today include Indian Hotels Company Ltd. (691.25, 3.6%), Max Healthcare Institute Ltd. (938, 3.5%) and Torrent Pharmaceuticals Ltd. (3,432.85, 3.4%).

Downers:

Largecap and midcap losers today include IndusInd Bank Ltd. (1,041.60, -18.6%), Hindustan Petroleum Corporation Ltd. (372.40, -8.0%) and Dixon Technologies (India) Ltd. (13,937.20, -7.4%).

Crowd Puller Stocks

26 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Thermax Ltd. (5,431.15, 4.8%), Laurus Labs Ltd. (465.80, 4.1%) and Jammu & Kashmir Bank Ltd. (97.63, 4.0%).

Top high volume losers on BSE were IndusInd Bank Ltd. (1,041.60, -18.6%), Poonawalla Fincorp Ltd. (297.05, -17.2%) and Dixon Technologies (India) Ltd. (13,937.20, -7.4%).

Chalet Hotels Ltd. (842.80, 0.8%) was trading at 21.2 times of weekly average. Home First Finance Company India Ltd. (1,102, -1.0%) and Radico Khaitan Ltd. (2,268.50, -1.2%) were trading with volumes 17.0 and 8.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

5 stocks made 52 week highs, while 20 stocks hit their 52 week lows.

Stocks touching their year highs included - Deepak Fertilisers & Petrochemicals Corporation Ltd. (1,133.70, 0.7%), Coforge Ltd. (7,739.85, 0.5%) and Radico Khaitan Ltd. (2,268.50, -1.2%).

Stocks making new 52 weeks lows included - IDFC First Bank Ltd. (65.50, -3.8%) and IndusInd Bank Ltd. (1,041.60, -18.6%).

4 stocks climbed above their 200 day SMA including Kotak Mahindra Bank Ltd. (1,768.85, 0.4%) and Asian Paints Ltd. (2,958, -0.5%). 52 stocks slipped below their 200 SMA including Au Small Finance Bank Ltd. (604.50, -6.4%) and Finolex Cables Ltd. (1,189.55, -5.6%).

Nifty 50 closed at 24,399.40 (-36.1, -0.2%) , BSE Sensex closed at 80,065.16 (-16.8, 0.0%) while the broader Nifty 500 closed at 22,787.85 (-53.3, -0.2%). Market breadth is in the red. Of the 2,288 stocks traded today, 823 were gainers and 1,444 were losers.

Nifty 50 closed flat after switching between losses and gains throughout the day. The Indian volatility index, Nifty VIX, fell 4.5% and closed at 14 points. Pidilite Industries rose as its net profit grew by 18.8% YoY to Rs 534.6 crore in Q2FY25, helped by inventory destocking and finance costs.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red. Nifty PSU Bank and Nifty MidSmall Healthcare Index were among the top index gainers today. According to Trendlyne’s sector dashboard, FMCG emerged as the worst-performing sector of the day, with a fall of 3.3%.

Asian indices closed in the red, except for Japan’s Nikkei 225 and Malaysia’s KLCI, which closed higher. European indices are trading in the green, except for Russia’s RTSI and MOEX index, which are trading in the red. US index futures are trading mixed, indicating a cautious start to the trading session. Brent crude oil futures are trading higher due to the Middle East conflict and reports of North Korean troops potentially supporting Russia in Ukraine.

• Dr Lal Pathlabs sees a short buildup in its October 31 futures series, with open interest increasing by 33% and a put-call ratio of 0.6.

• Ramkrishna Forgings rises as its net profit surges by 130.9% YoY to Rs 189.8 crore in Q2FY25, helped by inventory destocking and a one-time gain of Rs 95 crore from the sale of its subsidiary to Yatra Online. Revenue grows by 17% YoY to Rs 1,056.1 crore owing to higher forging components sales. It shows up in a screener of stocks reducing their debt.

• KEC International secures orders worth Rs 1,142 crore across various sectors. The transmission & distribution segment includes a 380 kV transmission line project in Saudi Arabia and supply orders in the Americas, along with railway bridge construction and cable supply projects in India and overseas.

• Ujjivan Small Finance Bank is falling as its net profit declines 28.9% YoY to Rs 233 crore in Q2FY25. Revenue increases by 15.9% YoY to Rs 1,612.8 crore, driven by improvements in the treasury, wholesale, and retail banking segments. The bank's asset quality deteriorates as its gross and net NPAs expand by 17 bps and 47 bps YoY, respectively, during the quarter.

• TVS Motor Co declines over 3% after its Q2FY25 results missed analysts' expectations. Kotak Institutional Equities retains its 'Sell' rating but raises the target price to Rs 1,850, citing high valuations. However, the brokerage notes strong medium-term growth prospects from rising EV two-wheeler volumes, steady demand in ICE segments, and recovering exports.

  .@tvsmotorcompany shares fell 3.2% to ?2,480 after Q2FY25 results missed expectations. Analysts remain positive but have adjusted target prices amid rising EV competition. https://t.co/s4475YWWGy

  — Mint (@livemint) October 24, 2024

• Tata Consultancy Services launches a new unit in collaboration with NVIDIA to accelerate AI adoption across industries. The unit will offer industry-specific AI solutions and strategies, leveraging TCS' global centres of excellence (CoEs) and NVIDIA's AI platforms.

• ICICI Direct upgrades Ultratech Cement to 'Buy' from 'Hold' with a higher target price of Rs 13,500 per share. This indicates a potential upside of 22.1%. The brokerage believes the company is well-positioned to benefit from a pick-up in demand and cost-saving initiatives. It expects the firm's net profit to grow at a CAGR of 22.6% over F25-27.

• Colgate-Palmolive India's net profit grows 16.2% YoY to Rs 395.1 crore in Q2FY25, helped by inventory destocking. Revenue increases 13.6% YoY to Rs 1,695.1 crore owing to an improvement in the domestic market. It features in a screener of stocks with PEG lower than industry PEG.

• Kishor Patil, MD & CEO of KPIT Technologies, believes the company will achieve the lower end of its 18-22% guidance band in FY25. He attributes the delay in programme launches as the key factor for the cautious guidance for H2FY25. Patil, however, remains optimistic about improving margins going forward.

  KPIT tech says
  
  ???? Will achieve lower end of its 18-22% guidance band. Delay in programme launches has led to the cautious guidance for H2FY25
  
  ???? Have enough headroom to increase margins even from here on
  
  ???? Scouting for strategic acquisitionshttps://t.co/Hkcsk41GdA

  — Nigel D'Souza (@Nigel__DSouza) October 24, 2024

• Piramal Enterprises' revenue grows 4.3% YoY to Rs 2,288 crore in Q2FY25, driven by higher interest, dividend, and rental income. Net profit surges 238% YoY to Rs 163 crore, helped by an exceptional gain of Rs 76.9 crore. The company shows up in a screener of stocks outperforming their industry price change in the past quarter.

• Au Small Finance Bank's net profit grows by 42.2% YoY to Rs 571.2 crore in Q2FY25. Revenue increases by 54.5% YoY to Rs 3,910.6 crore, driven by improvements in the treasury, wholesale, and retail banking segments. The bank's asset quality deteriorates as its gross and net NPAs expand by 7 bps and 15 bps YoY, respectively, during the quarter.

• Dr. Lal Pathlabs' Q2FY25 net profit grows by 18.2% YoY to Rs 129.2 crore, helped by lower finance costs and depreciation & amortisation expenses. Revenue rises by 10.1% YoY to Rs 682.1 crore, owing to higher testing samples and patients. It appears in a screener of stocks with improving cash flow from operations over the past two years.

• Reports suggest that the Adani group-controlled Kutch Copper is in talks with Australian mining giant BHP to secure a copper concentrate supply of up to 1.6 million tonnes per annum. The deal, potentially worth around Rs 30,000 crore annually, may vary due to fluctuating copper prices. Both companies are finalizing the agreement details.

  Adani-controlled Kutch Copper is reportedly in talks with Australian mining giant BHP for a deal involving up to 1.6 mtpa of copper concentrate, potentially worth Rs 30,000 crore annually#adani#copperhttps://t.co/k3Ooc5X8Lc

  — Business Standard (@bsindia) October 24, 2024

• United Spirits' Q2FY25 revenue falls 1% YoY to Rs 6,672 crore due to weak performance in the beverage alcohol segment. However, net profit grows marginally by 0.6% YoY to Rs 341 crore, helped by lower raw material costs and other expenses. The company shows up in a screener of stocks where mutual funds decreased their shareholding in the past quarter.

• Ashok Leyland is rising as its electric mobility subsidiary, OHM Global Mobility, secures an order from the Metropolitan Transport Corporation (MTC) of Chennai for 500 12-meter ultra-low-floor electric buses.

• Pidilite Industries is rising as its net profit grows by 18.8% YoY to Rs 534.6 crore in Q2FY25, helped by inventory destocking and finance costs. Revenue increases 5.9% YoY to Rs 3,292 crore during the quarter, driven by improvements in the consumer & bazaar and business-to-business (B2B) segments. It features in a screener of stocks where foreign institutional investors (FIIs) are increasing their shareholding.

• Zydus Lifesciences receives in-principle approval from WHO for its Typhoid Vi conjugate vaccine, ZyVac TCV. This vaccine is eligible for procurement by the UN and is designed for individuals aged 6 months to 65 years. It aims to tackle the high incidence of typhoid in India, Africa, and Southeast Asia. Each year, UN agencies procure over 150 million doses of the typhoid conjugate vaccine to combat this infectious disease.

  #ZydusLifesciences gets #WHO prequalification for Typhoid Vi conjugate vaccinehttps://t.co/QxELFJR4hi

  — Economic Times (@EconomicTimes) October 24, 2024

• RailTel Corp of India is rising as it receives a work order worth Rs 144.9 crore from the Home Department, Government of Gujarat. The order includes supplying, installing, and maintaining CCTV video surveillance systems at local crime branches, the Special Operations Group cyber police station, the Local Intelligence Bureau, and several police stations across three clusters.

• Birlasoft falls sharply as its net profit declines by 15.1% QoQ to Rs 127.5 crore in Q2FY25, caused by higher employee benefits and finance costs. However, revenue grows by 2.9% QoQ to Rs 1,401.6 crore due to improvements in the banking, financial services & insurance (BFSI) and energy & utilities segments. It appears in a screener of stocks where promoters are decreasing their shareholding.

• Schaeffler India is falling as its Q2FY25 net profit misses Forecaster estimates by 7.4% despite growing 1.6% YoY to Rs 236.4 crore, driven by inventory destocking. Revenue increases 14.2% YoY to Rs 2,116.4 crore during the quarter. The company appears in a screener of stocks with increasing revenue every quarter for the past two quarters.

• Macquarie downgrades Avenue Supermarts to ‘Underperform’ with a lower target price of Rs 3,700. The brokerage expects competitive pressures in the quick commerce space to persist. It also highlights that the 350 bps sequential fall in Q2FY25 same-store-sales growth was a negative surprise.

  #BrokerageRadar | Macquarie on Avenue Supermarts downgrades to Underperform from Outperform; cuts target price to Rs 3700 from Rs 5600@Macquariepic.twitter.com/uYUWiWMayR

  — ET NOW (@ETNOWlive) October 24, 2024

• State Bank of India signs an agreement with the German Development Bank to secure a line of credit worth € 150 million (approx. Rs 1,358.7 crore). The bank plans to use the loan to finance renewable energy projects in India.

• Sona BLW Precision Forgings surges as its net profit grows 16.2% YoY to Rs 143.9 crore in Q2FY25. Revenue increases 18.7% YoY to Rs 946.1 crore during the quarter. The company enters an agreement with Escorts Kubota to acquire its railway equipment business for Rs 1,600 crore.

• Metro Brands is falling as its Q2FY25 net profit misses Forecaster estimates by 6.2% despite growing 4.3% YoY to Rs 69.6 crore, driven by inventory destocking. Revenue increases 5.4% YoY to Rs 585.5 crore during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

• Hindustan Unilever's Q2FY25 net profit declines by 2.4% YoY to Rs 2,591 crore due to higher raw materials, employee benefits, and finance costs. However, revenue grows by 2.1% YoY to Rs 16,145 crore, driven by the home care and beauty & wellbeing segments. It shows up in a screener of stocks with weakening technicals and share price decline.

• Nifty 50 was trading at 24,437.70 (2.2, 0.0%), BSE Sensex was trading at 80,098.30 (16.3, 0.0%) while the broader Nifty 500 was trading at 22,823.25 (-17.9, -0.1%).

• Market breadth is in the red. Of the 1,904 stocks traded today, 806 were on the uptick, and 1,050 were down.

Riding High:

Largecap and midcap gainers today include Sona BLW Precision Forgings Ltd. (729.45, 13.3%), Adani Total Gas Ltd. (754.95, 7.8%) and Adani Wilmar Ltd. (340.30, 6.9%).

Downers:

Largecap and midcap losers today include Hindustan Unilever Ltd. (2,505.10, -5.8%), Escorts Kubota Ltd. (3,494.55, -5.6%) and Supreme Industries Ltd. (4,371.05, -4.8%).

Volume Shockers

24 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Piramal Pharma Ltd. (255.84, 17.4%), Sona BLW Precision Forgings Ltd. (729.45, 13.3%) and Aster DM Healthcare Ltd. (443.45, 10.3%).

Top high volume losers on BSE were KPIT Technologies Ltd. (1,410.85, -13.7%), VIP Industries Ltd. (471.65, -7.2%) and Dr. Lal Pathlabs Ltd. (3,049.10, -6.4%).

IIFL Finance Ltd. (407.15, -3.1%) was trading at 9.4 times of weekly average. Escorts Kubota Ltd. (3,494.55, -5.6%) and Hindustan Unilever Ltd. (2,505.10, -5.8%) were trading with volumes 9.1 and 7.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

6 stocks made 52 week highs, while 7 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Coforge Ltd. (7,699.05, 1.9%), Radico Khaitan Ltd. (2,296.10, 2.7%) and Max Financial Services Ltd. (1,287.80, 1.3%).

Stocks making new 52 weeks lows included - Birla Corporation Ltd. (1,152.50, 1.4%) and IndusInd Bank Ltd. (1,280.05, 0.5%).

23 stocks climbed above their 200 day SMA including Sona BLW Precision Forgings Ltd. (729.45, 13.3%) and Navin Fluorine International Ltd. (3,411.50, 3.2%). 18 stocks slipped below their 200 SMA including KPIT Technologies Ltd. (1,410.85, -13.7%) and Hindustan Unilever Ltd. (2,505.10, -5.8%).

• Coforge sees a long buildup in its October 31 futures series, with open interest increasing by 24% and a put-call ratio of 0.5.

• Bajaj Finserv rises as its Q2FY25 revenue rises 29.5% YoY to Rs 33,703.7 crore, driven by improvements in the insurance and retail financing segments. Net profit grows 8.2% YoY to Rs 2,087 crore during the quarter. The company shows up in a screener of stocks where mutual funds increased their shareholding over the past two months.

• Craftsman Automation's net profit declines by 34.7% YoY to Rs 61.7 crore in Q2FY25 due to higher sales & services and employee benefits expenses. However, revenue grows by 3.1% YoY to Rs 1,220.4 crore, driven by the powertrain and industrial & engineering segments. It shows up in a screener of stocks with declining profits for the past three quarters.

• RailTel Corp of India is rising as it receives a work order worth Rs 36.7 crore from South Eastern Railway. The contract involves providing electronic interlocking systems and signaling arrangements, both indoor and outdoor, at Bondamunda K, D, E, and J Cabins.

• The Office of the Commissioner of Indirect Taxes & Customs, Hyderabad, penalizes Suzlon Energy for short reversal of input tax credit under the CGST Act, 2017. The company received the penalty order on October 22, following an audit observation by the Superintendent - SAG41, Hyderabad.

  #SuzlonEnergy Limited has been penalized ?4,158 by the Office of the Commissioner of Indirect Taxes & Customs, Hyderabad, for short reversal of input tax credit under Section 74 of the CGST Act, 2017, the company informed stock exchanges on Wednesday.https://t.co/x0A2IxXJ8G

  — businessline (@businessline) October 23, 2024

• KPIT Technologies is falling as its Q2FY25 net profit falls marginally 0.2% QoQ to Rs 203.7 crore due to higher tax expenses. However, revenue grows 7.8% QoQ to Rs 1,471.4 crore, beating Forecaster estimates by 1.3%. It appears in a screener of stocks underperforming their industry price change in the past quarter.

• Can Fin Homes is rising as its net profit grows 33.8% YoY to Rs 211.5 crore in Q2FY25, driven by improvements in provisions for expected credit loss and write-offs. Revenue increases 10.5% YoY to Rs 962.7 crore during the quarter. The company appears in a screener of stocks with increasing revenue every quarter for the past eight quarters.

• Amber Enterprises surges to its all-time high of Rs 6,788.3 per share as it posts a net profit of Rs 19.2 crore in Q2FY25 compared to a net loss of Rs 6.9 crore in Q2FY24. Revenue increases by 81.2% YoY to Rs 1,702.5 crore, driven by growth in the consumer durables and electronics manufacturing services (EMS) segments. It features in a screener of stocks with high Trendlyne Momentum scores.

• India’s Finance Ministry is reportedly considering the removal of the windfall tax on domestic crude oil. Tarun Kapoor, advisor to the Prime Minister stated the imposition of windfall tax on crude oil has no relevance due to significantly lower global oil prices compared to 2022, when it was first levied.

  #India to consider #ending#WindfallTax on #crude, says govt officialhttps://t.co/oUibzfJadZ

  — Economic Times (@EconomicTimes) October 23, 2024

• Coforge surges as its Q2FY25 revenue grows 27.6% QoQ to Rs 3,062.3 crore, driven by improvements in the Americas and Europe, Middle East & Africa markets. Net profit rises 51.8% QoQ to Rs 202.2 crore during the quarter. It features in a screener of stocks with increasing revenue for the past eight quarters.

• Olectra Greentech is rising as its net profit grows 1.6X YoY to Rs 47.6 crore in Q2FY25. Revenue rises 70.5% YoY to Rs 523.7 crore, driven by higher sales from the insulator and e-vehicle divisions during the quarter. The company appears in a screener of stocks outperforming their industry price change in the quarter.

• Jyoti Structures is rising as it secures a letter of acceptance (LoA) for a Rs 450 crore order from Adani Energy Solutions in Gujarat. The project involves constructing a 765 kV transmission line, including tower supply, foundation, and commissioning, set for completion by April 2026.

• Zomato hikes its platform fee by 67% from Rs 6 per order to Rs 10, citing festive season demand. The company attributes the platform fee as one of the key reasons, for improving its margins.

  #Zomato hikes platform fee by 67% to Rs 10 citing 'festive rush'.
  
  Read more: https://t.co/q6WIT3bmoZpic.twitter.com/r7o5G5Q88s

  — NDTV Profit (@NDTVProfitIndia) October 23, 2024

• Zensar Technologies is rising as its net profit beats the Forecaster estimates by 2.6% despite falling 1.7% QoQ to Rs 155.7 crore in Q2FY25, driven by higher expenses on purchase of traded goods. However, revenue increases 1.5% QoQ to Rs 1,308 crore during the quarter. The company appears in a screener of stocks with increasing revenue every quarter for the past two quarters.

• Bajaj Finance rises sharply as its net profit grows 80.8% YoY to Rs 5,613.7 crore in Q2FY25. Revenue increases 27% YoY to Rs 14,491.8 crore due to higher assets under management (AUM). It appears in a screener of stocks with improving book value over the past two years.

• JSW Energy's step-down subsidiary, JSW Renew Energy Eleven, signs a power purchase agreement (PPA) with Solar Energy Corporation of India (SECI) for a 700MW solar project. The 25-year deal offers solar power with a Rs 2.56/kW tariff.

• Reports suggest that 1.8 crore shares (0.5% equity) of Bharat Heavy Electricals, amounting to Rs 402 crore, have changed hands in a large deal.

  #BHEL#LargeTrade | 1.8 Cr Shares (0.5% Equity) Worth ?402 Cr Change Hands At An Average Of ?227/Sh pic.twitter.com/mDzfs7Owfb

  — CNBC-TV18 (@CNBCTV18Live) October 23, 2024

• SRF's net profit falls 33% YoY to Rs 201.4 crore in Q2FY25. However, revenue rises 7.8% YoY to Rs 3,424.3 crore, driven by improvements in the technical textiles business (TTB) and packaging firm business (PFB) during the quarter. The company appears in a screener of stocks with declining profits every quarter for the past two quarters.

• Max Financial Services' net profit declines 23.9% YoY to Rs 112.6 crore in Q2FY25. However, revenue grows by 31.3% YoY to Rs 13,376.1 crore, helped by higher average premium equivalent (APE) and new business premium. It shows up in a screener of stocks with a decrease in provisions.

• Adani Green Energy is falling as its net profit declines 25.8% YoY to Rs 276 crore in Q2FY25. However, revenue rises 37.6% YoY to Rs 3,055 crore, driven by improvements in the power supply and sale of goods/equipment & related services segments during the quarter. The company appears in a screener of stocks underperforming their industry price change in the quarter.

• Suresh Narayanan, Chairman and Managing Director of Nestlé India, highlights the sluggish demand in the FMCG sector, with growth in food and beverages dropping to 1.5-2% compared to double-digit figures in previous quarters. He points out the significant rise in prices for fruits, vegetables, and oils, warning that if these costs become unmanageable, they will inevitably lead to higher prices for consumers.

  #FMCG sector facing sluggish demand, F&B growth declines to 1.5-2 pc: #NestleIndia CMDhttps://t.co/5ZWFxUZmYz

  — Economic Times (@EconomicTimes) October 23, 2024

• Persistent Systems rises sharply as its net profit grows by 23.4% YoY to Rs 325 crore in Q2FY25. Revenue increases by 20.2% YoY to Rs 2,943.7 crore, driven by improvements in the banking, financial services & insurance (BFSI), healthcare & life sciences, and software, hi-tech & emerging industries segments. It appears in a screener of stocks with increasing revenue for the past eight quarters.

• John Cockerill India is rising as it secures an order worth approximately Rs 103 crore from John Cockerill Industry North America. The order includes detailed engineering for an annealing and pickling line, along with the supply of key equipment like an annealing furnace and hydraulic and lubrication systems. It also covers the pre-assembly of refractory materials and the installation and commissioning of the line.

• Indus Towers' Q2FY25 net profit surges by 71.7% YoY to Rs 2,223.5 crore, helped by a return of Rs 1,076.6 crore from doubtful receivables. Revenue grows by 4.8% YoY to Rs 7,579.2 crore during the quarter. It features in a screener of stocks with rising net cash flow and cash from operating activities.

• Zomato is falling as its Q2FY25 net profit misses Forecaster estimates by 32.3% despite growing 3.9X YoY to Rs 176 crore. Revenue increases 68.5% YoY to Rs 4,799 crore, driven by a 97.7% YoY increase in Hyperpure supplies (B2B Business) and a 1.3X YoY rise in quick commerce sales during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

• Nifty 50 was trading at 24,511.95 (39.9, 0.2%) , BSE Sensex was trading at 80,137.88 (-82.8, -0.1%) while the broader Nifty 500 was trading at 22,854.60 (40.2, 0.2%)

• Market breadth is in the green. Of the 1,933 stocks traded today, 1,101 were on the uptrend, and 785 went down.

Riding High:

Largecap and midcap gainers today include Coforge Ltd. (7,557.80, 11.1%), Persistent Systems Ltd. (5,718.75, 10.9%) and Max Financial Services Ltd. (1,271.90, 8.7%).

Downers:

Largecap and midcap losers today include Gujarat Fluorochemicals Ltd. (4,387.60, -6.9%), ABB India Ltd. (7,703.80, -5.8%) and Siemens Ltd. (6,872.05, -5.1%).

Volume Rockets

20 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Deepak Fertilisers & Petrochemicals Corporation Ltd. (1,118.75, 16.5%), Firstsource Solutions Ltd. (350.90, 12.1%) and Coforge Ltd. (7,557.80, 11.1%).

Top high volume losers on BSE were Rajesh Exports Ltd. (242.70, -8.1%), Mahindra & Mahindra Financial Services Ltd. (267.55, -5.0%) and Bharat Heavy Electricals Ltd. (223.70, -3.9%).

Gujarat Mineral Development Corporation Ltd. (355.50, 8.3%) was trading at 15.0 times of weekly average. Persistent Systems Ltd. (5718.75, 10.9%) and Can Fin Homes Ltd. (871.30, 4.6%) were trading with volumes 8.9 and 8.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

9 stocks made 52 week highs, while 22 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Firstsource Solutions Ltd. (350.90, 12.1%), Multi Commodity Exchange of India Ltd. (6,686.05, 4.0%) and Coforge Ltd. (7,557.80, 11.1%).

Stocks making new 52 weeks lows included - Birla Corporation Ltd. (1,136.65, -0.9%) and IDFC First Bank Ltd. (66.58, -2.6%).

25 stocks climbed above their 200 day SMA including BLS International Services Ltd. (380.95, 8.6%) and Varun Beverages Ltd. (628.75, 5.8%). 41 stocks slipped below their 200 SMA including APL Apollo Tubes Ltd. (1,486.90, -2.8%) and Action Construction Equipment Ltd. (1,275.85, -2.3%).

Nifty 50 closed at 24,472.10 (-309, -1.3%) , BSE Sensex closed at 80,220.72 (-930.6, -1.2%) while the broader Nifty 500 closed at 22,814.45 (-448.8, -1.9%). Market breadth is highly negative. Of the 2,309 stocks traded today, 192 were in the positive territory and 2,107 were negative.

Indian indices closed in the red, with the benchmark Nifty 50 index closing at 24,472.1 points.  The Indian volatility index, Nifty VIX, rose 4.6% and closed at around 14.4 points. Hyundai Motor India closed 7.2% lower after its shares made their debut on the bourses at a 1.3% discount to the issue price of Rs 1,960. 

Nifty Midcap 100 and Nifty Smallcap 100 closed lower.  Nifty Metal and Nifty Consumer Durables closed in the red. According to Trendlyne’s sector dashboard, Healthcare Equipment & Supplies emerged as the best-performing sector of the day, with a rise of 1.6%.

European indices are trading lower, except for Russia’s RTSI and MOEX. Major Asian indices closed mixed. US index futures are trading mixed, indicating a cautious start to the trading session. GE Aerospace, Danaher Corporation, Philip Morris International, and Verizon Communications, among others, are set to report their earnings later today.

• Money flow index (MFI) indicates that stocks like Amber Enterprises India, Multi Commodity Exchange of India, and Gujarat Fluorochemicals are in the overbought zone.

• Kajaria Ceramics falls sharply as its Q2FY25 net profit declines 22.8% YoY to Rs 85.5 crore due to higher raw materials and employee benefit expenses. However, revenue increases by 5.1% YoY to Rs 1,179.3 crore, helped by an improvement in the tiles segment. The company shows up in a screener of stocks with profits declining from the past three quarters.

• Goodyear India falls to its new 52-week low of Rs 1,030.1 as its net profit falls by 58.5% YoY to Rs 15.7 crore in Q2FY25 due to higher cost of materials. Revenue decreases by 1.3% YoY to Rs 682.3 crore during the quarter. The company appears in a screener of stocks underperforming their industry price change in the quarter.

• Supreme Industries is falling as its net profit declines by 15% YoY to Rs 206.6 crore in Q2FY25, helped by inventory destocking. Revenue decreases 1.4% YoY to Rs 2,288 crore owing to a reduction in the plastic piping products and consumer products segments. It appears in a screener of stocks with growing costs YoY for long-term projects.

• Kotak Institutional Equities highlights a significant reversal in Indian markets in October, following a nine-month rally that made them the most expensive globally. Foreign portfolio investors (FPIs) withdrew a record Rs 82,479 crore from Indian equities this month. The brokerage also raised concerns about excessively high market valuations across most sectors. However, it believes the overall market sentiment remains quite euphoric.

  Kotak Institutional Equities remains cautious on Indian market despite October dip; here’s why
  
  (Via @mintgenieapp) https://t.co/zyFsB4Mb2V

  — Mint (@livemint) October 22, 2024

• NBCC (India) receives multiple work orders totaling Rs 127.5 crore from various clients. These include orders worth Rs 51 crore from Oil India, Rs 26 crore from IIFCL, Rs 20.4 crore from the Intelligence Bureau, Rs 16.9 crore from GS1 India, Rs 9.9 crore from EDCIL, and Rs 3.3 crore from Munitions India for the execution of interior fit-out works in office spaces.

• Route Mobile's net profit grows 21% YoY to Rs 10.7 crore in Q2FY25. Revenue increases 9.7% YoY to Rs 1,113.4 crore, driven by improvements in the domestic business (up 29% YoY) and overseas business (8.5% YoY). The company appears in a screener of stocks with book value per share improving over the past two years.

• ICICI Securities' net profit grows 24.9% YoY to Rs 529 crore in Q2FY25. Revenue increases 36.6% YoY to Rs 1,706.7 crore, attributable to improvements in the treasury, broking & distribution, and issuer services & advisory segments. It shows up in a screener of stocks with increasing revenue for the past eight consecutive quarters.

• Yogesh Malhotra, CEO of Gravita India, projects volume growth of 23-27% in FY25. He believes EBITDA margins may increase by 50 bps in select verticals, and expects RoCE of more than 20%. Malhotra highlights that the Finance Ministry’s Reverse Charge Mechanism and policy changes under GST are tailwinds for the company.

  Gravita India says
  ???? Volumes +23%-27% in FY25
  ???? Margins to improve as mix changes
  ???? RoCE at 20%+
  ???? Working capital days to come down to 65-70 days
  ???? Finance Ministry allows RCM on metal scrap, aids organized sector#StockMarkethttps://t.co/43JTwyYj5g

  — Nigel D'Souza (@Nigel__DSouza) October 22, 2024

• Varun Beverages is rising as its net profit grows by 23.7% YoY to Rs 619.6 crore in Q2FY25. Revenue increases 25.3% YoY to Rs 4,932.1 crore as sales volume rises 21.9% YoY to 267.5 million cases during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.

• Cyient DLM falls sharply as its net profit misses estimates by 24.8%, despite rising 5.5% YoY to Rs 15.5 crore in Q2FY25. Revenue grows 33.4% YoY to Rs 389.5 crore during the quarter. The company appears in a screener of stocks underperforming their industry price change in the past quarter.

• Realty stocks like Raymond, DLF, Godrej Properties, and Brigade Enterprises plunge more than 3% in trade. All constituents of the broader Nifty Realty index are also trading in the red.

• Abhyuday Jindal, Managing Director of Jindal Stainless, anticipates the stainless steel sector will grow by 8-9% in FY25, driven by strong domestic demand fueled by infrastructure projects, including those from the Railways and Metro initiatives. However, rising imports from China and Vietnam pose a challenge. Additionally, Jindal notes that export markets such as the US and EU remain sluggish, primarily due to high freight rates and geopolitical tensions impacting performance.

  "We expect an 8-9 per cent growth for stainless steel industry for some time now, driven by the ongoing infrastructure push across the country."
  
  -Abhyuday Jindal, Managing Director, Jindal Stainless Ltdhttps://t.co/I4OTHiUTkv

  — businessline (@businessline) October 22, 2024

• Jana Small Finance Bank falls sharply as its net profit declines by 21.3% YoY to Rs 96.7 crore in Q2FY25. However, its revenue increases 19.1% YoY to Rs 1,166.1 crore, driven by improvements in the treasury, corporate, and retail banking segments. The bank's asset quality improves as its gross non-performing assets contract by 53 bps during the quarter. It appears in a screener of stocks with promoters decreasing their shareholdings.

• Mahindra Logistics' net loss narrows by 32.5% YoY to Rs 10.8 crore in Q2FY25. Revenue grows by 11.5% YoY to Rs 1,521 crore, helped by an improvement in the supply chain management segment. The company shows up in a screener of stocks where mutual funds increased their shareholding in the past quarter.

• One97 Communications falls sharply as its revenue declines by 31.1% YoY to Rs 1,834 crore in Q2FY25. However, it posts a net profit of Rs 928.3 crore in Q2FY25 owing to lower payment processing, marketing & promotional, and employee benefits expenses. It appears in a screener of stocks with an increasing trend in non-core income.

• Kamlesh Shah, CFO of Elecon Engineering, says the company is on track to meet its revenue guidance of Rs 2,225 with an EBITDA margin of 24% in FY25, helped by a healthy order book. He attributes the company’s muted performance in Q2 to the Lok Sabha Elections, but expects a shift on a quarter-on-quarter basis.

  #EleconEngineering projects revenue guidance of Rs 2,225 crore with Ebitda of 24% this fiscal year.
  
  Read ??https://t.co/t1pZf7jFBX

  — NDTV Profit (@NDTVProfitIndia) October 22, 2024

• Ambuja Cements' board of directors approves the acquisition of a 72.8% stake in Orient Cement for a total consideration of Rs 5,903 crore.

• Gravita India's Q2FY25 net profit rises by 24.4% YoY to Rs 72 crore, driven by inventory destocking. Revenue increases 13.8% YoY to Rs 967.8 crore, driven by higher sales from lead and aluminium segments during the quarter. It features in a screener of stocks with zero promoter pledge.

• Hyundai Motor India’s shares debut on the bourses at a 1.3% discount to the issue price of Rs 1,960. The Rs 27,870.1 crore IPO received bids for 2.4 times the total shares on offer.

• Macquarie initiates an 'Outperform' rating on Hyundai Motor India with a target price of Rs 2,235. The brokerage believes Hyundai deserves to trade at a premium PE multiple versus its peers. It notes that the company's market share in core segments has stabilized and improved from recent lows. Macquarie also highlights Hyundai's favorable portfolio mix and premium positioning in the market.

  #BrokerageRadar | Macquarie on Hyundai Motor initiates Outperform with target price of Rs 2235@Macquariepic.twitter.com/9ylKAhU6eD

  — ET NOW (@ETNOWlive) October 22, 2024

• ICICI Securities upgrades HDFC Asset Management to 'Buy' from 'Hold' with a higher target price of Rs 5,500 per share. This indicates a potential upside of 18.7%. The brokerage believes the company's improving equity mix and higher market share in systematic investment plan (SIP) flows will help expand profitability. It expects the firm's net profit to grow at a CAGR of 28% over FY25-27.

• Bajaj Housing Finance rises as its Q2FY25 net profit grows 20.9% YoY to Rs 545.6 crore. Revenue increases by 26.1% YoY to Rs 2,410.2 crore due to higher assets under management (AUM) and loans. It features in a screener of stocks with rising net cash flow and cash from operating activities.

• 360 One Wam is falling as its Q2FY25 net profit misses Forecaster estimates by 6.1% despite growing 32% YoY to Rs 245.5 crore. Revenue increases 42.9% YoY to Rs 890.4 crore due to strong growth in average recurring revenue assets under management (ARR AUM) and higher transactional/brokerage income during the quarter. It features in a screener of stocks with increasing revenue every quarter for the past three quarters.

• Union Bank of India is rising as its net profit grows by 34.4% YoY to Rs 4,719.7 crore in Q2FY25, helped by lower provisions and tax expenses. Revenue increases by 13.3% YoY to Rs 32,036.5 crore, driven by the treasury, retail, and wholesale banking segments. The bank's asset quality improves as its gross and net NPAs decline by 202 bps YoY and 32 bps YoY, respectively.

• Nifty 50 was trading at 24,832.40 (51.3, 0.2%), BSE Sensex was trading at 81,189.78 (38.5, 0.1%) while the broader Nifty 500 was trading at 23,284.85 (21.6, 0.1%).

• Market breadth is in the red. Of the 1,928 stocks traded today, 702 were on the uptick, and 1,187 were down.

Riding High:

Largecap and midcap gainers today include Varun Beverages Ltd. (594.55, 2.8%), Hindustan Zinc Ltd. (513.60, 2.4%) and Tube Investments of India Ltd. (4,486.35, 2.3%).

Downers:

Largecap and midcap losers today include Mazagon Dock Shipbuilders Ltd. (4,158.35, -10.9%), Supreme Industries Ltd. (4,485.90, -9.9%) and Punjab National Bank (94.95, -7.2%).

Volume Shockers

20 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included City Union Bank Ltd. (168.51, 11.9%), Poly Medicure Ltd. (2,524.25, 3.0%) and Tube Investments of India Ltd. (4,486.35, 2.3%).

Top high volume losers on BSE were Supreme Industries Ltd. (4,485.90, -9.9%), Punjab National Bank (94.95, -7.2%) and PNC Infratech Ltd. (342.30, -6.7%).

Jyothy Labs Ltd. (504.30, -2.6%) was trading at 27.1 times of weekly average. Route Mobile Ltd. (1,534.90, -2.1%) and Torrent Power Ltd. (1,940, -1.4%) were trading with volumes 3.8 and 3.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

4 stocks hit their 52 week highs, while 16 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Multi Commodity Exchange of India Ltd. (6,431.05, -3.0%), Torrent Power Ltd. (1,940, -1.4%) and Whirlpool of India Ltd. (2,349, 0.0%).

Stocks making new 52 weeks lows included - IDFC First Bank Ltd. (68.32, -3.0%) and IndusInd Bank Ltd. (1,274.35, -2.6%).

5 stocks climbed above their 200 day SMA including City Union Bank Ltd. (168.51, 11.9%) and Varun Beverages Ltd. (594.55, 2.8%). 74 stocks slipped below their 200 SMA including Supreme Industries Ltd. (4,485.90, -9.9%) and Jupiter Wagons Ltd. (468.15, -8.5%).

Nifty 50 closed at 24,781.10 (-73.0, -0.3%) , BSE Sensex closed at 81,151.27 (-73.5, -0.1%) while the broader Nifty 500 closed at 23,263.25 (-177.5, -0.8%). Market breadth is sharply down. Of the 2,335 stocks traded today, 506 were on the uptrend, and 1,806 went down.

Indian indices closed in the red, with the benchmark Nifty 50 index closing at 24,781.1 points. The Indian volatility index, Nifty VIX, rose 5.6% and closed at 13.9 points. HDFC Bank’s net profit grew 5.3% YoY to Rs 16,821 crore in Q2FY25. Revenue rose 9% YoY to Rs 85,499.6 crore, owing to improvements in the retail and wholesale banking segments.

Nifty Midcap 100 and Nifty Smallcap 100 closed in the red, following the benchmark index. S&P BSE Midsmallcap and S&P BSE Large MidCap were among the top index gainers today. According to Trendlyne’s Sector dashboard, Hardware Technology & Equipment emerged as the worst-performing sector of the day, with a fall of over 3%.

Asian indices closed mixed while European indices are trading in the red except Russia’s MOEX and RTSI index. US index futures traded in the red, indicating a cautious start to the trading session. Brent crude oil futures are trading in the green. JP Morgan observed significant Q3 earnings downgrades across major regions, with ongoing cuts in both the U.S. and Eurozone. Additionally, it noted that Brent, a key global benchmark typically correlated to sales growth, is indicating potential downside.

• Relative strength index (RSI) indicates that stocks like Motilal Oswal Financial Services, Mastek, and Anand Rathi Wealth are in the overbought zone.

• CG Power and Industrial Solutions is falling as its net profit declines 8.8% YoY to Rs 221 crore in Q2FY25. However, revenue rises 20.5% YoY to Rs 2,412.7 crore during the quarter, driven by higher sales in the power and industrial systems segments. It features in a screener of stocks with zero promoter pledge.

• Mangalore Refinery And Petrochemicals falls sharply as it reports a net loss of Rs 696.9 crore in Q2FY25 compared to a net profit of Rs 1,051.7 crore in Q2FY24 due to higher cost of raw materials and lower inventory sales. However, revenue increases 26% YoY to Rs 28,785.9 crore during the quarter. The company appears in a screener of stocks underperforming their industry price change in the past quarter.

• L&T Finance's Q2FY25 net profit grows by 16.9% YoY to Rs 695.6 crore. Its revenue increases by 25.1% YoY to Rs 4,019 crore due to improvements in interest and fees & commission incomes. The company appears in a screener of stocks with book value per share improving over the past two years.

• Reliance Industries’ exports reach multi-quarter lows, both in absolute terms and as a percentage of its oil-to-chemicals (O2C) revenue in the latest quarter, amid ongoing volatility in the global oil market since the pandemic and recent geopolitical tensions. In Q2FY25, the company reported exports of Rs 70,631 crore, down 16% YoY.

  Global oil volatility, geopolitical tensions drag #RIL exports to 5-quarter low#oilpriceshttps://t.co/nr62687srK

  — Business Standard (@bsindia) October 21, 2024

• Jio Financial Services' net profit grows by 3.1% YoY to Rs 689.1 crore in Q2FY25. Revenue increases 14.1% YoY to Rs 693.5 crore during the quarter, helped by higher interest and dividend income. It shows up in a screener of stocks where mutual funds increased their shareholding in the past quarter.

• RBL Bank plunges to its 52-week low of Rs 175.5 per share as its net profit falls by 24.3% YoY to Rs 222.5 crore in Q2FY25 owing to a tax expense of Rs 69 crore compared to a tax return of Rs 203.5 crore in Q2FY24. However, revenue grows by 20.1% YoY to Rs 4,458.3 crore, driven by the treasury, retail, and corporate banking segments. It features in a screener of stocks with high interest payments compared to earnings.

• TD Power Systems is rising as it signs a five-year contract with an Indian subsidiary of a major international company to supply traction motors for the European market. The company receives an initial order valued at Rs 18 crore, scheduled for delivery in April 2025. The total contract value is expected to reach Rs 300 crore over the next five years.

• Rajiv Bajaj, CEO of Bajaj Auto, expects the company will achieve growth close to double digits by December. He highlights the 125cc+ segment has been growing 40% higher than the industry. Bajaj expects a cumulative volume of 45 lakh by year-end, and 47 lakh in FY25, driven by higher exports.

  CNBCTV18Exclusive | ????"Growth could turn out to be closer to double-digits by December. 125cc+ segment has been growing 40% higher than the industry.
  
  Expect to touch 1.8 Lk in #exports next month."
  
  - Rajiv Bajaj of #BajajAuto tells #CNBCTV18pic.twitter.com/1LxNn9sWgx

  — CNBC-TV18 (@CNBCTV18Live) October 21, 2024

• Axis Direct retains its 'Buy' call on Nestle India with a lower target price of Rs 2,640 per share. This indicates a potential upside of 12%. The brokerage remains positive on the company's long-term growth owing to improved rural penetration, new product launches, premiumisation of core categories like Maggi noodles, and expansion into new categories. It expects the firm's revenue to grow at a CAGR of 10.7% over FY25-27.

• Tata Consumer Products falls sharply as its Q2FY25 revenue misses Forecaster estimates by 2.4% despite growing by 11.4% YoY to Rs 4,260.4 crore, attributed to improvements in the Indian and international businesses. Net profit rises by 7.7% YoY to Rs 364.4 crore owing to higher inventory destocking. It shows up in a screener of stocks with weakening technicals and share price decline.

• Refex Renewables & Infrastructure rises to its 5% upper limit as its wholly-owned subsidiary, Refex Green Power, secures an order worth Rs 480 crore from NTPC to set up a 100 megawatt (MW) solar power project.

• Foreign institutional investors (FIIs) offload a record Rs 77,701 crore (approx $9.25 billion) worth of shares till October 18, highlights Ace Equity. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, notes that FII funds are shifting to Chinese stocks, which remain relatively cheap. For context, Hong Kong's Hang Seng index had a price-to-earnings (P/E) ratio of nearly 12, compared to the Nifty50's roughly 23.

  ????????#MarketToday | Heavy selling by foreign institutional investors (FIIs) broke all records in October, offloading the highest-ever shares in one month. Data available with Ace Equity shows that global investors sold shares worth Rs 77,701 crore, or $9.25 billion, on a… pic.twitter.com/46YsRqu0O2

  — Business Today (@business_today) October 21, 2024

• JSW Steel and JFE Steel Corp’s joint venture, JSquare Electrical Steel Nashik, enters a share purchase agreement to acquire 100% equity interest in Thyssenkrupp Electrical Steel India for Rs 4,051.4 crore, subject to closing adjustments.

• IndiaMART InterMESH's Q2FY25 net profit grows by 18% QoQ to Rs 135.1 crore. Revenue increases 7.5% QoQ to Rs 413.2 crore, driven by improvements in the web & related services and accounting software services segments. It shows up in a screener of stocks with increasing revenue for the past eight quarters.

• ICICI Lombard General Insurance's net profit grows by 20.2% YoY to Rs 694 crore in Q2FY25. Revenue increases 17.1% YoY to Rs 6,147.3 crore during the quarter, driven by higher sales in the fire, marine, health, crop, and motor segments. It features in a screener of stocks with increasing revenue every quarter for the past 3 quarters.

• Sunil D’Souza, MD and CEO of Tata Consumer Products, highlights improved demand in rural areas, but urban demand has softened. He expects increased volumes in Q3FY25, compared to Q2. D’souza believes the company will achieve EBITDA margin growth of 50-100 bps YoY, and remains bullish about H2FY25.

  LIVE | Sunil D'Souza of Tata Consumer Products, discusses Q2 results and TCPL's 15-year growth roadmap@nikunjdalmia@TataConsumerhttps://t.co/I1VawgEyDB

  — ET NOW (@ETNOWlive) October 21, 2024

• Godrej Properties acquires 3 acres of land in Vastrapur, Ahmedabad, for a residential project with a saleable area of 0.9 million sq. ft. The project, primarily premium apartments, has an estimated booking value of Rs 1,300 crore.

• Kotak Mahindra Bank falls sharply as its net profit misses Forecaster estimates by 1.9% despite growing by 4.8% YoY to Rs 3,343.7 crore in Q2FY25. Revenue rises by 17.7% YoY to Rs 15,900.5 crore, driven by improved treasury, retail, and wholesale banking segments. The bank's asset quality improves as its gross NPA contracts 23 bps YoY. However, its net NPA expands by 6 bps YoY.

• Netweb Technologies India is rising as its net profit grows by 66.5% QoQ to Rs 25.7 crore, led by inventory destocking. Revenue increases 68.1% QoQ to Rs 251.1 crore during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding in the last quarter.

• Hitesh Doshi, Chief Managing Director of Waaree Energies, highlights the company's plans to utilise the IPO funds to increase its capacity from 13 GW to 21 GW. As of June 2024, its utilized capacity stands at 45%. He adds that the firm plans to launch a 5.4 GW cell manufacturing facility in FY25, which is expected to enhance margins as it becomes operational.

  Waaree Energies IPO opens today
  
  Management says
  ???? Expanding capacity from 13GW to 21 GW
  ???? As cell manufacturing facility comes on stream, margins will improve
  ???? Solar Industry has a huge runaway, tremendous scope#StockMarkethttps://t.co/UaKGD7mB71

  — Nigel D'Souza (@Nigel__DSouza) October 21, 2024

• PNC Infratech plunges to its 20% lower circuit as the Ministry of Road Transport & Highways (MoRTH) disqualifies the company and its special purpose vehicles (SPVs), PNC Khajuraho Highways and PNC Bundelkhand Highways from its tenders for one year.

• HDFC Bank rises sharply as its net profit grows 5.3% YoY to Rs 16,821 crore in Q2FY25. Revenue increases 9% YoY to Rs 85,499.6 crore, owing to improvements in the retail and wholesale banking segments. However, the bank's asset quality declines as its gross and net NPA grow by 2 bps and 6 bps YoY, respectively. It appears in a screener of stocks near their 52-week highs with significant volumes.

• Garden Reach Shipbuilders & Engineers is rising as it receives a contract worth Rs 491 crore from the Naval Physical and Oceanographic Laboratory under the Ministry of Defence's Defence Research and Development Organisation (DRDO) in Kochi. The contract covers the design, development, construction, equipment integration, testing, certification, commissioning, and supply of an Acoustic Research Ship (ARS).

• Tech Mahindra rises sharply to its 52-week high of Rs 1,745 per share as its net profit grows by 46.8% QoQ to Rs 1,250.1 crore in Q2FY25. Revenue increases 5.2% QoQ to Rs 13,834.7 crore, helped by improvements in the IT and business process services (BPS) segments. It features in a screener of stocks with decreasing provisions.

• Markets rise on early trading, Nifty 50 was trading at 24,935.75 (81.7, 0.3%), BSE Sensex was trading at 81,676.39 (451.6, 0.6%) while the broader Nifty 500 was trading at 23,513.85 (73.2, 0.3%).

• Market breadth is in the green. Of the 2,009 stocks traded today, 1,141 were on the uptick, and 817 were down.

Riding High:

Largecap and midcap gainers today include Bajaj Auto Ltd. (10,500.50, 4.3%), Oberoi Realty Ltd. (1,995.55, 3.3%) and Zomato Ltd. (265.70, 3.2%).

Downers:

Largecap and midcap losers today include Tata Consumer Products Ltd. (1,017.05, -7.0%), Jindal Stainless Ltd. (698.85, -5.9%) and ABB India Ltd. (8,279.70, -5.7%).

Volume Rockets

24 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Amber Enterprises India Ltd. (6,344.45, 17.4%), Tejas Networks Ltd. (1,318.60, 11.0%) and Tata Chemicals Ltd. (1,189, 9.3%).

Top high volume losers on BSE were IndiaMART InterMESH Ltd. (2,508.60, -16.7%), RBL Bank Ltd. (176.14, -14.2%) and Tata Consumer Products Ltd. (1,017.05, -7.0%).

TVS Holdings Ltd. (14,000, 3.7%) was trading at 10.3 times of weekly average. Dalmia Bharat Ltd. (1,830.80, -1.2%) and Kama Holdings Ltd. (2,684.15, 2.5%) were trading with volumes 8.9 and 8.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

13 stocks made 52 week highs, while 8 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - HCL Technologies Ltd. (1,843.60, -0.8%), JM Financial Ltd. (147.05, -7.3%) and Multi Commodity Exchange of India Ltd. (6,629, 1.0%).

Stocks making new 52 weeks lows included - IDFC First Bank Ltd. (70.40, -1.6%) and IndusInd Bank Ltd. (1,308.25, -2.9%).

8 stocks climbed above their 200 day SMA including Kama Holdings Ltd. (2,684.15, 2.5%) and L&T Technology Services Ltd. (5,255, 2.4%). 35 stocks slipped below their 200 SMA including PNC Infratech Ltd. (366.80, -20%) and IndiaMART InterMESH Ltd. (2,508.60, -16.7%).