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Money flow index (MFI) indicates that stocks like Prestige Estates Projects, Vijaya Diagnostic Centre, The Fertilisers and Chemicals Travancore and Oil India are in the overbought zone.

NBCC (India) rises over 8% in trade to touch a new 52-week high of Rs 70.6 per share. The company ranks high on Trendlyne’s Checklist scoring 54.5%. It features in a screener of companies with zero promoter pledges.

Ultratech Cement is rising as its net profit surges by 69.6% YoY to Rs 1,281.5 crore in Q2FY24. Revenue improves by 15.3% YoY to Rs 16,012.1 crore during the same period. It features in a screener of stocks with increasing profits for the past three consecutive quarters.

ICICI Securities maintains its ‘Buy’ rating on IndusInd Bank and raises its target price to Rs 1,750 from Rs 1,700. This implies an upside of 20.9%. The brokerage expects the bank to see a healthy rate of loan growth with a steady net interest margin and anticipates slippages to gradually reduce in the coming quarters.

PVR INOX is falling despite being back in the black in Q2FY24 with a net profit of Rs 166.3 crore. Its revenue jumps by nearly 3X YoY to Rs 2,000 crore, driven by improving box office collections and a 64% YoY rise in admissions. The stock shows up in a screener for companies with improving net cash flows from operations over the past two years.

Bandhan Bank is falling despite its net profit growing by 3.4X YoY to Rs 721.2 crore in Q2FY24. Interest revenue increases by 20% YoY on the back of gains in the treasury, retail banking and wholesale banking segments. The bank's asset quality declines with net NPA rising by 45 bps YoY. The company appears in a screener of stocks with rising debt.

SJVN offers power to the beneficiaries of Northern Region from a 1,000 MW solar PV station under development at a village in Rajasthan, as part of the CPSU government scheme. Jammu & Kashmir Power Corp and Rajasthan Urja Vidyut Nigam have both agreed to purchase 600 MW and 500 MW of power, respectively, against the station's total capacity of 1000 MW.

IRM Energy's Rs 545.4 crore IPO gets bids for 4.4X the available 76.3 lakh shares on offer on the second day of bidding. The retail investor quota gets bids for 4.4X the available 37 lakh shares on offer.

Gandharv Tongia, Executive Director and CFO of Polycab India, says the company will continue to outpace the cables and wires market. He remains positive that it will attain the Rs 20,000 crore revenue objective before 2026. He adds that the cable and wires business margins will be around 12-14% and Polycab's exports have grown by 14%.

Polycab says

????Will continue to outgrow cables & wires market
????Optimistic that ?20k cr revenue target can be achieved earlier than 2026
????Cable & Wires biz margin range will be 12-14%
????Working capital will hover around 50-60 days#StockMarket#Niftyhttps://t.co/GPn5c9nLwt

— Nigel D'Souza (@Nigel__DSouza) October 19, 2023

Shyam Metalics and Energy is rising as its arm Shyam Sel and Power gets NCLT approval to acquire Mittal Corp for a consideration of Rs 351 crore. The company appears in a screener of stocks where foreign institutional investors have increased their shareholdings.

MTAR Technologies, Chambal Fertilisers & Chemicals, Sapphire Foods, and Zensar Technologieswitness a decrease in mutual fund holdings in the past month.

Persistent Systemsis rising as its Q2FY24 net profit increases by 15.1% QoQ to Rs 263.3 crore and EBIT margin expands by 88 bps QoQ to 13.7%. Its revenue also improves by 3.9% YoY, driven by healthy growth in the software, hi-tech and healthcare business verticals. The company also bags its highest-ever order in Q2, with a total contract value of $475 million.

Titagarh Rail Systemsis falling despite reporting a profit of Rs 24 crore in Q2FY24, as against a loss of Rs 11.7 crore in Q2FY23. Its revenue grows by 54% YoY. The profit uptick is due to a one-time impairment loss of investment in Q2FY23. The company features in a screener for stocks with strong annual EPS growth.

Jefferies initiates coverage on One 97 Communications (Paytm) with a ‘Buy’ rating and a target price of Rs 1,300. The brokerage is optimistic about the company's accelerated monetisation of its expansive ecosystem, driven by the growth of its credit business. It predicts that the company will be profitable within the next year, making it one of the few major profitable fintech companies worldwide with strong growth.

Jefferies has initiated its coverage on One 97 Communications, the parent company of #Paytm, with a ‘Buy’ rating & a target price of ?1,300 per share, implying an upside of over 37% from Wednesday’s closing price.https://t.co/NGTyvdoRy1

— Mint (@livemint) October 19, 2023

LTIMindtree is rising as its Q2FY24 net profit increases by 0.9% QoQ to Rs 1,161.8 crore. Its revenue improves by 2.4% QoQ, aided by better sales in the banking, financial services & insurance segment.

KFIN Technologies is rising as it signs a contract with LIC Pension Fund to provide investment management solutions.

Nestle India is rising as its Q2FY24 net profit rises 37.3% YoY to Rs 908.1 crore, driven by better sales, lower raw material costs, and the write-back of provisions from earlier quarters. Its revenue increases by 9.5% YoY, led by healthy growth in domestic sales. The board has approved a stock split in a 1:10 ratio and has declared a dividend of Rs 140 per share, payable on November 16.

Hiranand Savlani, CFO of Astral, says that the FY24 volume growth guidance has been increased to over 20% from the earlier 15%. He adds that the bathware business is expected to breakeven in FY25, instead of Q4FY24. He is confident that the company will attain new business revenues of Rs 1,500 crore within the next five years.

#OnCNBCTv18 | #FY24 volume #guidance increased to 20%+ from 15%. FY24 #volume growth will be atleast 20%. Investing more in branding which will lead to breakeven in #FY25, says Hiranand Savlani of Astral Poly#2QWithCNBCTV18#Q2Results#Q2FY24pic.twitter.com/k4aOpluYTV

— CNBC-TV18 (@CNBCTV18Live) October 19, 2023

Wisdomtree India Investment Portfolio buys a 0.5% stake in Gujarat Pipavav Port for approx Rs 34.2 crore in a bulk deal on Wednesday.

Metal stocks like APL Apollo Tubes, Coal India, Jindal Steel & Power and Tata Steel are falling in trade. All constituents of the broader BSE Metal index are trading in the red.

Bajaj Autorises to its all-time highof Rs 5,395 per share as its net profit grows by 17.5% YoY to Rs 2,020.1 crore in Q2FY24. Revenue increases by 6.2% YoY, aided by improved sales in the Indian and overseas markets. It appears in a screener of stocks where mutual funds have increased their shareholdings over the past month.

BofA maintains its 'Buy' rating on IndusInd Bank with an upgraded target price of Rs 1,750 citing that the company's Q2 results were positive. The brokerage says the bank has demonstrated solid loan growth momentum in various segments. It adds that NIMs have been stable, and anticipates credit costs to fall further in H2.

Brokerage Radar | BofA on IndusInd Bank: Maintain 'Buy'; Healthy loan growth momentum across most segments#IndusIndBank#StockMarketpic.twitter.com/dJcupg063Q

— ET NOW (@ETNOWlive) October 19, 2023

Shakti Pumpssurges more than 10% to touch its all-time highof Rs 1,066.6 per share as it bags an order worth Rs 1,603 crore from Maharashtra State Electricity Distribution. The order is for the supply of 50,000 pumps over the next two years.

Porinju Veliyathadds Arrow Greentechto his portfolio in Q2FY24. He buys a 1.1% stake in the company.

Ashish Kacholiaadds Dhabriya Polywood, NIIT Learning Systemsand Zaggle Prepaid Ocean Servicesto his portfolio in Q2FY24. He buys a 6.4%, 2.2% and 1.7% stake in the companies respectively.

Wipro is falling as its net profit declines by 7.8% QoQ to Rs 2,646.3 crore in Q2FY24. Revenue also decreases by 1.4% YoY due to the Americas, Europe and APMEA segments. It appears in a screener of stocks with dropping quarterly net profit and profit margin.

Relative strength index (RSI) indicates that stocks like ITI, The Fertilisers and Chemicals Travancore, Coal India and MMTC are in the overbought zone.

Polycab India is falling despite its net profit rising by 59% YoY to Rs 429.8 crore in Q2FY24. Revenue grows by 27% YoY, aided by better sales in the wires & cables and FMEG segments. It appears in a screener of stocks showing growth in quarterly net profit and profit margin.

NHPC is falling as the company estimates the losses caused by the Sikkim flash floods at nearly Rs 233.6 crore. However, the management states that all the assets are insured under the construction all-risk policy. It expects a delay of six months and a cost overturn for the project.

Syngene International plunges after it lowers its growth guidance for FY24, citing a slowdown in the US biotech segment. The company expects revenue growth in the mid-teens on a constant currency basis, compared to its earlier guidance of high-teen growth. Its Q2FY24 revenue grows by 18.5% to Rs 910.1 crore, while net profit rises by 14.2% to Rs 116.5 crore.

#Q2Results | #SyngeneInternational has cut its FY24 growth guidance to mid-teens on a constant currency basis compared to earlier guidance of high-teen growth due to US-based biotech segment showing signs of slowed growth

(@UjjvalJauhari reports)https://t.co/7lSJIE11aw

— Mint (@livemint) October 18, 2023

Power stocks like ABB India, Seimens, Bharat Heavy Electricals and JSW Energy are falling in trade. All constituents of the broader BSE Power index are trading in the red.

Happiest Minds Technologies falls as its Q2FY24 net profit drops by 5.1% QoQ to Rs 54.5 crore. However, its revenue rises by 5.7% QoQ, aided by its database system and professional engineering services segments. The company appears in a screener of stocks with declining net profit and margins.

IRM Energy's Rs 545.4 crore IPO gets bids for 1.7X the available 76.3 lakh shares on offer on the first day of bidding. The retail investor quota gets bids for 1.8X the available 37 lakh shares on offer.

KRChoksey downgrades its rating on Tata Consultancy Services (TCS) to ‘Add’ from ‘Buy’ but keeps the target price unchanged at Rs 3,888. This implies an upside of 11.2%. Despite the macroeconomic uncertainties, the brokerage says the company is poised for healthy growth in the medium term due to its robust order book and deal wins. It expects the firm’s net profit to grow at a CAGR of 12.4% over FY23-25.

Housing and Urban Development Corporation falls more than 9% in trade as it's promoter, the President of India acting through the Ministry of Housing and Urban Affairs, proposes to sell 7 crore shares (3.5% equity) through the stock exchange. It appears in a screener for stocks with low Piotroski score.

Tejas Networksrises to its all-time highof Rs 940 per share as it partners with FibreConnect, an Italian telecom infrastructure developer. As per the contract, Tejas Networks will aid the company in deploying an end-to-end optical network in Italy.

Sugar export restrictions will be extended again until October 31 next year, to enhance the availability of the product in the domestic market during the festive period. These restrictions, however, will not apply to sugar exported to the EU and the US under CXL and TRQ duty concession quotas.

India has extended its restriction on export of sugar, beyond October #India#sugar#Exportshttps://t.co/zFcJ00fMRT

— Business Standard (@bsindia) October 18, 2023

IIFL Securitiesrises to a new 52-week high of Rs 104.3 as its Q2FY24 net profit surges by 151.5% YoY to Rs 141.2 crore. Its revenue grows by 64.3% YoY, aided by growth in fees & commission and interest incomes. The company appears in a screenerof stocks with growing net profit and margins.

ITI touches a 52-week high as its Electromagnetic Compatibility Laboratory (EMC Lab) receives a Certificate of Accreditation from NABL. The lab has various industrial, medical and scientific applications. It appears in a screenerfor stocks with strong momentum.

Zensar Technologies rises as its Q2FY24 net profit increases by 11.3% QoQ to Rs 173.9 crore. Its revenue also improves by 1.7% QoQ, aided by growth in digital and application services. EBITDA margins improve by 40 basis points QoQ. The company appears in a screener of stocks nearing their 52-week highs with significant volumes.

Shailesh Chandra, MD of Tata Motors, says there is persistent demand for SUVs but at the expense of hatchbacks and sedans. He notes that the company's SUV sales share has jumped to 51%, indicating a growing consumer preference for SUVs. Tata Motors has also released facelift versions of its SUVs, Harrier and Safari. He adds that the company's rural demand has been consistent.

#OnCNBCTV18 | Seeing sustained demand towards #SUVs at the cost of hatchbacks and sedans. Decline in hatchback sales is structural and not temporary. Have not seen any drop in rural demand, says Shailesh Chandra of Tata Motors#TataMotorspic.twitter.com/ZGfZsniz3v

— CNBC-TV18 (@CNBCTV18Live) October 18, 2023

CIE Automotive India's net profit surges by 119.1% YoY to Rs 375.4 crore in Q2FY24. Its revenue increase is marginal at 2.2% YoY due to a dip in the European market. The firm's EBITDA margin expands by 220 bps YoY on the back of reduced raw material expenses. The company appears in a screener of stocks with high analyst rating and at least 20% target price upside.

The Supreme Court rules against Telecom giants like Bharti Airtel andVodafone Idea in a tax case. It orders these companies to classify license fees paid to the Department of Telecommunications as capital expenditure instead of revenue expenditure. This has significant tax implications as it may potentially lead to increased tax liabilities for telecom companies.

IRM Energy raises Rs 160.4 crore from anchor investors ahead of its IPO by allotting around 31.8 lakh shares at Rs 505 each. Investors include DSP Mutual Fund, Quant Mutual Fund, PNB Metlife India Insurance Co, ITI Mutual Fund and HDFC Life Insurance Co.

Govt cuts windfall tax on domestic crude, export of diesel, ATF#windfalltaxhttps://t.co/vPxN7Z3kacpic.twitter.com/hAcRemewjm

— Business Insider India???????? (@BiIndia) October 18, 2023

L&T Technology Services falls despite its Q2FY24 net profit rising 1.4% QoQ to Rs 315.4 crore. Its revenue grows by 3.3% YoY, aided by growth in the transportation and telecom & hitech segments. The company appears in a screener of stocks with increasing quarterly net profits.

Dolly Khanna adds Rajshree Sugars & Chemicals to her portfolio in Q2FY24. She buys a 1.1% stake in the company.

Porinju Veliyath sells a 1.4% stake in Ansal Buildwell in Q2FY24. He now holds a 2% stake in the company.

Morgan Stanley maintains its 'Buy' rating on Can Fin Homes with a target price of Rs 1,000. The brokerage says that the company's reported PAT beat its estimates by 7%, driven by a higher NIM and a reduced effective tax rate. The NIM increased by 29 bps QoQ to 3.9%.

Brokerage Radar | #MorganStanley on #CanFin maintains buy with target price of Rs.1000@MorganStanley@canfinhomesltdpic.twitter.com/JxEHJBXfG7

— ET NOW (@ETNOWlive) October 18, 2023

Sunil Singhania sells a 0.3% stake in Dreamfolks Services in Q2FY24. He now holds a 1.5% stake in the company.

Mazagon Dock Shipbuilders is rising as it bags a contract worth Rs 310 from the Ministry of Defence for the construction of a training ship for the Indian Coast Guard. The stock shows up in a screener for companies with book value per share improving over the past two years.

Tata Elxsi is rising as its Q2FY24 net profit rises 5.9% QoQ to Rs 200 crore, and revenue increases by 3.7% QoQ, driven by growth in the software development & services segment. The stock shows up in a screener for companies with improving cash flow from operations over the past two years.

Bajaj Finance’s Q2FY24 standalone net profit rises 25.6% YoY to Rs 3,105.8 crore and net interest income grows by 26% YoY, driven by strong demand for loans. The company’s assets under management also increase by 35% YoY, led by growth in the vehicle and consumer finance segments. The stock shows up in a screener for companies with high TTM EPS growth.

Dalmia Bharat sees a short buildup in its October 26 future series as its open interest rises 14.2% with a put-call ratio of 0.3.

UPL sees six analyst target price downgrades and two recommendation downgrades in the past three months. Bandhan Bank, Navin Fluorine International, and Infosys see five analyst target price downgrades over the same time period.

Tata Metaliks rises to a new 52-week high of Rs 1,006.7 as its Q2FY24 net profit surges by 209.1% YoY to Rs 44.2 crore, aided by lower raw material expenses. However, its revenue falls by 13.9% YoY due to lower realisation in the pig iron segment. The company appears in a screener of stocks with strong momentum.

#Jefferies has retained its ‘buy’ call on #KFinTechnologies and raised its target price to ?560 from ?500 earlier. The new target implies a potential upside of over 22%#StockMarkethttps://t.co/f5XfW1GKHx

— Mint (@livemint) October 17, 2023

PCBL is falling despite its net profit rising by 5.4% YoY to Rs 122.6 crore on the back of raw material expenses declining by 16.7% YoY. However, its revenue falls by 8.7% YoY due to a decline in its carbon black business segment. The stock shows up in a screener for companies with declining net cash flows.

Newgen Software Technologies surges to touch its all-time high of Rs 1,060 per share as its Q2FY24 net profit grows by 58.2% YoY to Rs 47.8 crore. Revenue also rises by 16.5% YoY, driven by gains in the India, EMEA, APAC and USA segments. It features in a screener of growth stocks with good technical scores.

Va Tech Wabag surges as it inks a partnership agreement with Pani Energy to implement applied AI solutions for treatment plants.

Ramesh Babu, the CEO & MD of Karur Vysya Bank, anticipates loan growth of over 15% for FY24. He expects NIMs to be around 3.8% by the end of FY24 and an RoA of 1.6%. He also states that NPAs would not exceed 1%, and sets the credit cost forecast at 0.75%.

KARUR VYSYA BANK

Reported highest every quarterly profit for the bank

Strong commentary from the management too

- Loan Growth seen >15%
- NIMs could be around 3.8%
- 1.6% RoA Target for FY24
- NPAs won't cross 1%, Credit Cost guidance at 0.75% https://t.co/jeNZ7RBmlL

— Mangalam Maloo (@blitzkreigm) October 17, 2023

ICICI Securitiesrises to touch its 52-week highof Rs 683 per share as its net profit grows by 41.5% YoY to Rs 423.8 crore in Q2FY24. Revenue increases by 45.5% YoY on the back of the equity, derivatives and distribution segments. It shows up in a screenerof stock with increasing net profit over the past two quarters.

Power stocks like Power Grid Corp of India, Adani Power, NHPC, NTPCand Tata Power Coare rising in trade. Barring Siemens, all the other constituents of the broader sectoral index, BSE Power, are trading in the green.

J Kumar Infraprojects rises to an all-time high of Rs 473 after receiving an order worth Rs 509 crore. The contract is for the engineering, procurement, and construction of the Command Hospital in Lucknow and is expected to be completed in 90 months. The company appears in a screener of stocks with growing net profits and margins.

Brokerage Radar | #Kotak on #FederalBank maintains buy; hikes target price@kotaksecurities@FederalBankLtdpic.twitter.com/mlZdeEJYEX

— ET NOW (@ETNOWlive) October 17, 2023

HDFC Securities maintains its ‘Sell’ rating on Avenue Supermarts (DMART) with a target price of Rs 3,200. This implies a downside of 17.1%. The brokerage expects margin pressures to persist for the firm over the short term due to intense competition leading to lower apparel sales, diminishing the share of merchandise and apparel from its total sales mix.

Telecommunications equipment, coaland consumer durablessectors rise more than 10% in the past month.

Ajmera Realty & Infra India rises over 4% upon securing a residential redevelopment project in Versova, Mumbai. The company expects this redevelopment project to generate sales of Rs 360 crore. It appears in a screener for stocks with strong momentum.

The Society of Indian Automobile Manufacturers (SIAM) reports a 4.7% YoY rise in passenger vehicle sales, reaching 10.7 lakh units in Q2FY24. According to Vinod Aggarwal, President of SIAM, "The growth in the PV segment is on the back of robust demand for multi-utility and sports utility vehicles." Meanwhile, two-wheeler sales have declined by 1.6% to around 46 lakh.

Increased demand and improved utility vehicle production contributed to record-high passenger vehicle wholesales in India during the July-September 2023 quarter, as reported by SIAM.@avishekb001 has all the details????https://t.co/ddou7KjPCH#SIAM#India@siamindia

— Moneycontrol (@moneycontrolcom) October 16, 2023

Ceat is rising as its Q2FY24 net profit surges to Rs 208 crore from Rs 7.8 crore on the back of a 13.6% YoY decrease in raw material costs. Revenue also increases by 5.5% YoY. Profitability improves due to the absence of any compensation for voluntary retirement, which cost Rs 23.7 crore in Q2FY23.

KEC International is rising as it bags multiple orders worth Rs 1,315 crore in the Indian and overseas markets. One such order includes providing a 765 kV transmission line and 765 kV AIS substation in India for Power Grid Corp. The other orders are for the supply of towers, hardware and poles in the Middle East, Australia and the Americas.

Bajaj Finance rises as it enters into a binding term sheet to acquire a 26% stake (9.9 lakh shares) of Pennant Technologies for Rs 267.5 crore. Pennant Tech is involved in software products for the banking and finance industry. The company appears in a screener of stocks with strong momentum.

Anthony Montalbano, CEO of Cyient DLM, expresses a positive outlook for the aerospace and defence sectors. He notes that, as of now, the supply chain in Israel is unaffected, but will be continually assessed. The company forecasts a 40% growth rate for FY24. 

#OnCNBCTV18 | The #outlook in the #aerospace & #defence space continues to be #strong. Currently, supply is not disrupted in #Israel but will continue to monitor it closely. Looking to see a #growth rate of 40% for #FY24, says Anthony Montalbano of Cyient DLM pic.twitter.com/0duDZlD1La

— CNBC-TV18 (@CNBCTV18Live) October 17, 2023

Ashish Kacholia sells a 0.4% stake in Xpro India in Q2FY24. He now holds a 3.9% stake in the company.

Porinju Veliyath sells a 1.3% stake in Shalimar Paints for approx Rs 18.8 crore in a bulk deal on Thursday.

Vijay Kedia adds Om Infrato his portfolio in Q2FY24. He buys a 2.6% stake in the company.

HDFC Bank's net profit grows by 50.1% YoY to Rs 15,796.1 crore in Q2FY24 post its merger with HDFC. Net interest income increases by 118.7% YoY on the back of improved revenue from the treasury, retail banking and wholesale banking segments. It appears in a screener of stocks with improving cash flow and high durability.

Money flow index (MFI) indicates that stocks like Prestige Estates Projects, MMTC, Vijaya Diagnostic Centre and Solar Industries India are in the overbought zone.

Karur Vysya Bank is rising as its Q2FY24 net profit grows by 51.2% YoY to Rs 378.4 crore. Its net interest income (NII) increases by 26.4% YoY, aided by improvement in revenue from the treasury, corporate banking and retail banking segments. Its asset quality also improves as its gross and net NPAs decline by 229 bps and 91 bps YoY, respectively. The company appears in a screener of stocks with increasing revenue for the past eight quarters.

Niranjan Gupta, CEO of Hero MotoCorp, says the company has experienced a 30% rise in bookings and a 20% increase in inquiries this festive season. He anticipates a double-digit growth during this period. He also adds that the company has 6-7 new product launches in the pipeline.

#OnCNBCTV18 | Seen 30% increase in #bookings this festive season and inquiries are higher by 20%. We are expecting double-digit #growth this festive season, says Niranjan Gupta of Hero MotoCorp pic.twitter.com/85hIWAxl1x

— CNBC-TV18 (@CNBCTV18Live) October 16, 2023

Oriental Hotels falls as its Q2FY24 net profit plunges by 45.7% YoY to Rs 43.7 crore due to increasing costs in employee benefits and raw materials. However, its revenue rises by 2.5% YoY, aided by an increase in the average room rate. The company appears in a screener of stocks with falling net profits and margins.

Cochin Shipyard is rising as it bags an order worth Rs 313.4 crore from the Ministry of Defence to upgrade and repower INS Beas. The project will be completed in 2026.

Bank of Maharashtra is rising as its Q2FY24 net profit surges by 71.9% YoY to Rs 919.8 crore and net interest income rises by 29% YoY. The stock shows up in a screener for companies with net profits rising sequentially for the past four quarters.

According to Nuvama Institutional Equities, agrochem-focused players are expected to face demand pressures. The brokerage highlights that inventory de-stocking is still in progress and might pick up pace in Q3FY24 as major global players are focusing on healthier year-end balance sheets.

Chemical sector growth projected for Galaxy & PI Industries; agrochem-focused players face demand pressure. Inventory destocking ongoing, may pick up speed in Q3FY24; India gaining market share in long run, says Nuvamahttps://t.co/wkezCwftRl

— Mint (@livemint) October 16, 2023

Federal Bank's Q2FY24 net profit rises 35.5% YoY to Rs 953.8 crore, while its total income increases 33.6% YoY. The bank's total deposits during the quarter also improve by 23.1% YoY and net advances grow 19.6% YoY. The bank features in a screener for stocks with increasing revenue for the past eight quarters.

Mphasis, Coforge, Tanla Platformsand PVR INOX's weekly average delivery volumes rise ahead of their Q2FY24 results on Thursday.

Zydus Lifesciencesappoints Punit Patel as its President and Chief Executive Officer to lead its business operations in the Americas. He will oversee the company's generics, injectables, and specialty businesses. He will also manage the rare and orphan disease portfolio, and lead future forays into novel therapeutics.

Texmaco Rail & Engineeringsurges more than 5% as its net profit grows by 59.7% YoY to Rs 24.6 crore in Q2FY24. Revenue increases by 66.2% YoY on the back of improvement in revenue from the heavy engineering and steel foundry segments. It features in a screenerof stocks with negative to positive growth in sales and net profit with strong price momentum.

According to reports, 1.03 crore shares (0.15% equity) of Power Grid Corp of India, amounting to around Rs 206.9 crore, change hands in two large trades.

#PowerGridCorp has 1.03 crore shares change hands in two large trades. #bqstocks

Read latest #stockmarket updates: https://t.co/X77WN7Xox4pic.twitter.com/cbrS33uHWh

— BQ Prime (@bqprime) October 16, 2023

HDFC Securities maintains its ‘Buy’ rating on State Bank of India and raises the target price to Rs 790 from Rs 750. This implies an upside of 36.8%. The brokerage remains positive about the bank’s prospects due to its robust lean distribution model, healthy profitability, stable NIMs and improving efficiencies. It expects the company’s net profit to grow at a CAGR of 12.4% over FY23-25.

Delta Corp plunges over 8% to touch its 52-week low of Rs 122.6 as its subsidiary, Deltatech Gaming, receives an intimation from the Directorate General of GST Intelligence. The intimation relates to the payment of Rs 6,384.3 crore in shortfall tax.

Gati rises over 9% as it records an 8% YoY increase in total volumes to 109kt (kilo tonnes) in September, including surface and air express. Its Q2FY24 volume improves by 18% YoY to 333kt, driven by strong pre-festive orders. The company's Bengaluru transhipment hub is now fully online. It appears in ascreener for stocks with strong momentum.

Metal & mining stocks like NMDC, Coal India, APL Apollo Tubes, JSW Steel and Tata Steel are rising in trade. Barring Hindalco Industries, all the other constituents of the broader sectoral index, BSE Metal, are trading in the green.

India’s WPI inflation contracts to around -0.3% in September, continuing its negative trend for the sixth consecutive month. This is due to a fall in prices of basic metals, mineral oil, chemical & chemical products, and textiles.

September WPI-based inflation comes at -0.26%.

The WPI inflation in negative for 6th straight month#Inflation#WPI#India#Indianeconomyhttps://t.co/VJu817EfYB

— Business Standard (@bsindia) October 16, 2023

Porinju Veliyath sells a 1.1% stake in Ashok Alco-Chem in Q2FY24. He now holds a 3% stake in the company.

Sunil Singhania sells 0.5% and 0.3% stakes in Hindware Home Innovation and AGI Greenpac, respectively, in Q2FY24. He now holds 4.4% and 1.4% stakes in the companies.

Ashish Kacholia sells a 1.1% stake in SJS Enterprises during Q2FY24, reducing his holding to 3.2%. He has also bought a 0.2% stake in Faze Three during the same quarter.

Bajaj Electricals is rising as it bags an order worth Rs 564.2 crore from Power Grid Corp of India for two 400 kV transmission lines in Andhra Pradesh. The project is expected to be completed in the next 21 months.

Goldman Sachs maintains its 'Buy' rating on One97 Communications (Paytm) with an upgraded target price of Rs 1,250. It says the company's operating metrics have been better than expected. According to the brokerage, Paytm turning net income positive in FY25 will boost the stock. Goldman Sachs raises its EBITDA estimates for the firm by 2-5%, for FY24-26E.

Brokerage Radar | #GoldmanSachs on #Paytm maintains buy; hikes target price to Rs.1,250 @GoldmanSachs@Paytmpic.twitter.com/UBifn4Be4S

— ET NOW (@ETNOWlive) October 16, 2023

Rakesh Jhunjhunwala's portfolio sells a 0.4% stake in Federal Bankin Q2FY24. It now holds a 3.1% stake in the company.

Kalpataru Projects Internationalrises as it bags orders worth Rs 2,217 crore. These include a power transmission and distribution order for Rs 1,993 crore in India and abroad and a building and factories order for Rs 224 crore in India. The company appears in a screenerof stocks with strong momentum.

Avenue Supermartsis falling as its net profit declines by 9.1% YoY to Rs 623.6 crore in Q2FY24. However, its revenue grows by 18.7% YoY, aided by improvements in the food and non-food segments. The firm's EBITDA margin drops by 42 bps YoY due to increased raw material and employee benefit expenses. It appears in a screenerof stocks where superstar shareholders have sold their stakes.

Nifty 50was trading at 19,704.60 (-46.5, -0.2%), BSE Sensexwas trading at 66,238.15 (-44.6, -0.1%) while the broader Nifty 500was trading at 17,367.60 (-22.8, -0.1%).

Market breadth is in the green. Of the 1,834 stocks traded today, 1,128 were on the uptrend, and 630 went down.

Relative strength index (RSI) indicates that stocks like Nippon Life India Asset Management, Kaynes Technology India, Solar Industries India and Safari Industries (India) are in the overbought zone.

ITI and MMTC are trading at Rs 271.1 and Rs 75.3 per share, which are 47.2% and 39.5% higher than their respective week-lows.

Ashok Leyland bags an order from the Tamil Nadu Government to supply 1,666 passenger bus chassis. The stock shows up in a screener for companies with declining promoter pledges.

HDFC Life Insurance Company rises as its Q2FY24 net profit increases by 15.5% YoY to Rs 376.8 crore. Its revenue remains unchanged at Rs 22,974.3 crore, but the value of new business grows by 4% YoY. The company appears in a screener of stocks with increasing quarterly profits.

P. Radhakrishnan, the Whole-time Director & CEO of Kesoram Industries, says the company plans to produce 8 metric tonnes of cement in FY24. They expect the EBITDA per tonne to exceed 700 in H2FY24. He adds that the company has increased cement prices by Rs 30 per bag. Radhakrishnan anticipates that their Rayon business will break even by Q4 and that high-cost debt will be refinanced by then.

KESORAM INDUSTRIES

Targets 8MT volumes for FY24
EBITDA/Tn could cross 700 in H2
Have increased cement prices by 30/Bag

Expect Rayon biz to break even by Q4
Looking to refinance high cost debt by Q4

https://t.co/QeswuRWIZH

— Mangalam Maloo (@blitzkreigm) October 13, 2023

Foreign institutional investors make the highest investment worth Rs 4,808.8 crore in stock futures over the past week, according to Trendlyne's FII dashboard. Meanwhile, index options witness the highest outflow of Rs 65,033.6 crore from foreign investors. Mutual Funds invest Rs 3,110 crore in the equity market over the same period.

PSU banks like Indian Bank, Indian Overseas Bank, Bank of Baroda, State Bank of India and Punjab & Sind Bank are falling in trade. Barring Bank of Maharashtra, all the other constituents of the broader sectoral index, Nifty PSU Bank, are also trading in the red.

One97 Communications (Paytm) falls as RBI imposes a penalty of Rs 5.4 crore on its associate Paytm Payments Bank for non-compliance with know your customer (KYC) norms. The company appears in a screener of stocks with falling book value per share.

India's domestic air traffic in September rose 18.3 percent compared to the same month last year

Here’s how, read to know????https://t.co/HksJ85BijF#CivilAviation#Travel#DGCA

— Moneycontrol (@moneycontrolcom) October 12, 2023

Indian Oil Corpis rising as it invests Rs 1,660.2 crore in its joint venture (JV), IndianOil NTPC Green Energy. The JV is a 50-50 partnership between IOCL and NTPC.

Landmark Cars receives a letter of intent (LoI) from MG Motor India to open a dealership in Goa. The dealer will be established by Landmark's subsidiary, Aeromark Cars, and will be operational by Q3FY24.

Motilal Oswal keeps its ‘Buy’ rating on Tata Consultancy Services and raises the target price to Rs 4,060 from Rs 3,790. This implies an upside of 13.9%. Although the brokerage expects the firm to see near-term weakness, it remains optimistic about the company’s long-term prospects given its order book, long-duration projects and healthy margins.

India's IIP growth rate increases to a 14-month high of 10.3% in August, up from 6% in July. The expansion was aided by increased output in the mining, manufacturing, and electricity sectors. Mining output increased by 12.3%, while manufacturing and electrical output nearly doubled.

Double surprise as #inflation declines to 5% in September, #industrial#growth rises to a 14-month high of 10.3% #IIP#CPI#RetailInflationhttps://t.co/KGepDl3L5n

— Economic Times (@EconomicTimes) October 12, 2023

IRB Infrastructure Developers is rising as it enters definitive agreements with affiliates of GIC and Samakhiyali Tollway. These agreements aim to implement the Samakhiyali Santalpur BOT Project worth Rs 2,092 crore. IRB Infrastructure Trust will buy a 99.9% stake in Samayakhali Tollway for Rs 116.2 crore.

Anand Rathi Wealth falls despite its Q2FY24 net profit rising by 33.9% YoY to Rs 57.5 crore. Its revenue increases by 36.9% YoY, aided by growth in the mutual fund & distribution segment. The company appears in a screener of stocks nearing their 52-week highs with significant volumes.

Ircon International and Rites rise sharply as the Department of Public Enterprise grants the 'Navratna' status to both companies.

SJVN rises as it wins a Letter of Award (LOA) in a competitive bidding conducted by Rajasthan Urja Vikas Nigam Limited (RUVNL) for the development of a 100MW solar power project on a build, own, and operate (BOO) basis amounting to Rs 600 crore. It appears in a screener for Nifty 500 stocks with consistently high returns over five years.

CPI-based #inflation stands at 5.02% in September, as compared with 6.83% in August. https://t.co/Ri3EQQu1Pf

— BQ Prime (@bqprime) October 13, 2023

Angel One hits its all-time high of Rs 2,249.2 per share as its net profit grows by 43.9% YoY to Rs 305.3 crore in Q2FY24. Revenue improves by 40.6% YoY on the back of higher active clients, average daily turnover and number of orders. It appears in a screener of Trendlyne's high-return technically strong value stocks.

Porinju Veliyath sells a 1.3% stake in Shalimar Paints for approx Rs 18.8 crore in a bulk deal on Thursday.

Porinju Veliyath adds Singer India to his portfolio in Q2FY24. He buys a 1% stake in the company.

HDFC Bank declines as 46.7 lakh shares (0.1% equity), amounting to Rs 719.6 crore, reportedly change hands in a block deal.

#HDFCBank Large Trade | 46.7 lk shares (0.1% eq) worth Rs 719.6 cr change hands at Rs1,540/sh via block deal pic.twitter.com/GoxrRy4aXS

— CNBC-TV18 (@CNBCTV18Live) October 13, 2023

Dolly Khanna adds KCP Sugar & Industries Corp and Prakash Industries to her portfolio in Q2FY24. She buys 1.3% and 1% stakes in the companies respectively.

HCL Technologies is rising as its Q2FY24 net profit rises 8.4% QoQ to Rs 3,832 crore, while its EBIT margin increases by 152 bps QoQ. Its revenue grows 1.4% QoQ led by growth in the IT & business services and engineering and R&D services segments. The company shows up in a screener for stocks with strong momentum.

Infosys’ Q2FY24 net profit rises 4.5% QoQ to Rs 6,212 crore as its EBIT margin increases by 40 bps QoQ. Its revenue grows by 2.8% QoQ, driven by growth in the retail, manufacturing and life sciences segments. The stock shows up in a screener for companies with no debt.

Maruti Suzuki India sees a long buildup in its October 26 future series as its open interest rises 14.6% with a put-call ratio of 0.6.

Linde India surges over 14% in trade today. The company ranks high on Trendlyne’s Checklist scoring 78.3%. It features in a screenerof companies with prices above short, medium, and long-term moving averages.

Telecommunications equipment, coal and realty sectors rise by more than 6.9% over the past week

PCBL, Zensar Technologies and L&T Technology Services rise 15.4%, 5.7% and 3.9% respectively over the past week, ahead of their Q2FY24 results on Tuesday.

Grasim Industries rises to an all-time high of Rs 2,022 as its board considers fund-raising on October 16. They plan to raise funds through rights issues, qualified institutional placements or preferential issues. The company appears in a screener of stocks with improving book value per share.

Hero Motocorp receives a stay order from the Delhi High Court in a cheating case involving the company's MD and CEO, Pawan Munjal. The stay order will remain in force till the next hearing, which will be held on December 6.

HDFC Asset Management Co is rising as its Q2FY24 revenue grows by 18.1% YoY to Rs 643.1 crore. Its net profit also increases by 19.9% YoY to Rs 436.5 crore due to reduced depreciation and commission expenses. The stock shows up in the screener for companies with strong momentum.

Zomato touches a 20-month high as brokerages raise their target prices in anticipation of high volumes during the holiday season and the ICC Men's Cricket World Cup 2023. Kotak Institutional Equities and ICICI Securities retain their constructive view on Zomato, revising their target prices, implying a potential upside of 14% and 50%, respectively.

#Zomato shares rise to the highest level in over 20 months after brokerages raise target price. #BQStockshttps://t.co/zzYN8aYikO

— BQ Prime (@bqprime) October 12, 2023

Sterlite Technologies is rising as it collaborates with Hygenco to supply green hydrogen to its manufacturing plants. According to the agreement, Hygenco will build, own and operate a green hydrogen facility, which will be commissioned in 15 to 18 months and will operate for the next 20 years.

Oil & gas stocks like GAIL (India), Indraprastha Gas, Bharat Petroleum Corp, Hindustan Petroleum Corp and Petronet LNG are rising in trade. Barring Adani Total Gas, all the other constituents of the broader sectoral index, BSE Oil & Gas, are trading in the green.

Delta Corpis falling as its Q2FY24 revenue marginally grows by 0.2% YoY to Rs 270.6 crore. The growth in the casino gaming division has been offset by a drop in the online skill gaming division. However, its net profit increases by 1.7% YoY to Rs 69.4 crore due to a decline in raw material costs. The stock shows up in the screenerfor companies with declining net cash flow.

Retail sales for the automotive industry rise around 9% YoY to 1.1 crore units in H1FY24, as per data from the Federation of Automotive Dealers' Association. Two-wheeler retail sales are up 7% YoY, while cars increase by 6.2% YoY.

Automobile retail sales in India saw a 9% YoY growth during the first half FY24, driven by the recovery across all categories.@shinejac reports the details here#automobile#Sales#India#automobilesales#Autosales#Autoindustry#Commercialvehiclehttps://t.co/gM3tvOPRQh

— Business Standard (@bsindia) October 12, 2023

BoB Capital Markets maintains its ‘Hold’ rating on Siemens Indiawith a target price of Rs 3,900. This implies an upside of 8.9%. The brokerage points out that the company expects rising domestic public capex will create a healthy capex environment for private companies in India in the medium term. The management is optimistic that this will lead to a surge in orders from private companies in the medium-to-long term.

Sula Vineyards is rising as its revenue from sales grows by 14% YoY to Rs 116.2 crore in Q2FY24. Revenue from the wine tourism segment also improves by 26% YoY to Rs 12.1 crore. It features in a screener of stocks with rising return on capital employed (RoCE) over the past two years.

Sunil Singhania buys a 0.1% stake in Rupa & Co in Q2FY24. He now holds a 4.2% stake in the company.

G Shivakumar, the CFO of Great Eastern Shipping Co, says that shipments have remained unaffected by geopolitical tensions. He highlights that Israel isn't a significant trade route for the company and adds that dry bulk costs for larger vessels have risen to $25,000.

#OnCNBCTV18 | There has been no impact on shipments currently due to geopolitical tensions, Israel is not on the main trade route, says G Shivakumar of GE Shipping pic.twitter.com/Ofwl3Akv2g

— CNBC-TV18 (@CNBCTV18Live) October 12, 2023

Ashish Kacholia sells a 0.2% stake in Safari Industries in Q2FY24. He now holds a 2.1% stake in the company.

Glenmark Pharmaceuticals rises as its wholly owned subsidiary, Ichnos Sciences, enters into a licensing agreement with Astria Therapeutics for the development of OX40 Antagonist Monoclonal Antibody Portfolio. These antibodies are used to treat inflammatory and immune diseases. The company appears in a screener of Nifty 500 stocks with consistently high returns over five years.

Media stocks like Network18 Media & Investments, TV18 Broadcast, Hathway Cable & Datacom, PVR Inox and Sun TV Network are rising in trade. The broader sectoral index, Nifty Media, is also trading in the green.

Morgan Stanley notes that steel companies have performed well in recent months. However, they remain cautious due to a less favourable global macro environment and unattractive valuations. The brokerage expects no material expansion in spreads over the next few months. It maintains an 'Equal-weight' rating on SAIL and Tata Steel but 'Underperform' on JSW Steeland JSPL.

Brokerage Radar | "Steel stocks have done well over the past few months, but we remain guarded," #MorganStanley on steel industry.@MorganStanleypic.twitter.com/c0HouPPCEO

— ET NOW (@ETNOWlive) October 12, 2023

Aster DM Healthcare rises amid reports of the potential sale of its India business for an estimated valuation of $1.9 billion. Private equity firms like BPEA EQT, Ontario Teachers' Pension Plan Board, Blackstone Inc and KKR & Co have shown interest in the acquisition. The company appears in a screener of stocks nearing their 52-week highs with significant volumes.

Plaza Wires’ shares debut on the bourses at a 40.7% premium to the issue price of Rs 54. The Rs 71.3 crore IPO has received bids for 161 times the total shares on offer.

EMSrises to its all-time highof Rs 334.4 per share as it bags an order worth Rs 270.8 crore to build, commission and maintain a sewerage system in Jaipur.

IndusInd Bankrises as the RBI approves SBI Mutual Fund to acquire a 10% stake in the bank. The acquisition will be completed in one year. The company appears in a screenerof stocks with improving RoE.

Tata Consultancy Services falls despite its net profit growing by 2.4% QoQ to Rs 11,342 crore in Q2FY24. Revenue remains flat at Rs 59,692 crore on the back of the communication, media & technology, and life sciences & healthcare segments. The company has also announced to buy back 4.1 crore shares worth approximately Rs 17,000 crore.

Nifty 50was trading at 19,829.85 (18.5, 0.1%), BSE Sensexwas trading at 66,525.54 (52.5, 0.1%) while the broader Nifty 500was trading at 17,447.65 (40.3, 0.2%)

Market breadth is surging up. Of the 1,752 stocks traded today, 1,390 were in the positive territory and 305 were negative.