Nifty 50 closed at 24,213.30 (218.0, 0.9%), BSE Sensex closed at 79,476.63 (694.4, 0.9%) while the broader Nifty 500 closed at 22,679.85 (161.6, 0.7%). Market breadth is in the green. Of the 2,287 stocks traded today, 1,446 were on the uptrend, and 805 went down.
Nifty 50 closed in the green after paring its losses in the afternoon session. The Indian volatility index, Nifty VIX, fell by 3.4% and closed at 16.1 points. Sagility India raised Rs 945.4 crore from anchor investors ahead of its IPO by allotting around 31.5 crore shares at Rs 30 each.
Nifty Smallcap 100 and Nifty Midcap 100 closed higher. Nifty Metal and Nifty Financial Services were among the top-performing indices of the day. According to Trendlyne’s sector dashboard, Hardware Technology & Equipment emerged as the best-performing sector of the day, with a rise of 3.1%.
European indices are trading higher. Major Asian indices closed in the green, except Australia’s S&P ASX 200 and South Korea’s KOSPI, which closed 0.4% and 0.5% lower, respectively. US index futures are trading in the green, indicating a positive start to the trading session. Apollo Global Management, Thomson Reuters Corp, Emerson Electric, and Marathon Petroleum Corp among others, are set to report their earnings later today.
Money flow index (MFI) indicates that stocks like Crisil, Gillette India, and Deepak Fertilisers & Petrochemicals Corp are in the overbought zone.
SJVN is rising as its Q2FY25 revenue grows by 16.5% YoY to Rs 1,108.4 crore, driven by higher generation from the hydro and wind power plants. Net profit rises marginally by 0.3% YoY to Rs 441.1 crore during the quarter. It appears in a screener of stocks with improving book value over the last two years.
Rail Vikas Nigam rises as it bags an order worth Rs 837.7 crore from the Eastern Railways to construct bridges, retaining walls, level crossing, and side drains, among others, between Kalipahari and Pradhankhuta.
Alkyl Amines Chemicals rises sharply as its net profit grows by 74.2% YoY to Rs 47.5 crore in Q2FY25. Revenue increases 19.6% YoY to Rs 424.1 crore during the quarter. It features in a screener of stocks with increasing profits over the past three quarters.
Deepak Goyal, Director & Group CFO of APL Apollo Tubes, highlights the company’s volume guidance of 3.2-3.3 MT for FY25. He projects EBITDA/tonne at Rs 4,000-5,000/tn for H2FY25. Goyal expects the company will be debt-free in the coming 1-2 quarters.
ICICI Direct maintains its 'Buy' call on Shalby with a lower target price of Rs 310 per share. This indicates a potential upside of 33%. The brokerage believes the company's plans to expand into metros and tier-1 cities and an asset-light franchisee-based expansion in tier II-VI towns will help improve revenue. It expects the firm's revenue to grow at a CAGR of 15.5% over FY25-26.
VST Industries is falling as its Chief Executive Officer (CEO) & Managing Director Arun Maheshwari tenders his resignation, effective November 5. The company appoints Naresh Kumar Sethi as his successor for a period of five years.
Saregama India falls sharply as its net profit declines by 6.7% YoY to Rs 44.9 crore in Q2FY25 due to higher operational, employee benefits, advertisement & sales promotion, and royalty expenses. However, revenue grows by 37.1% YoY to Rs 254.4 crore, attributed to improvements in the music, artist management, and video segments. It shows up in a screener of stocks with declining cash from operations over the past two years.
Ashish Kacholia’s portfolio stock, E2E Networks, hits its 5% upper circuit as Larsen & Toubro enters an agreement to acquire up to 21% stake worth Rs 1,079 crore in the company. L&T will initially buy up to 15% stake through preferential allotment.
KEC International is falling as its net profit misses Forecaster estimates by 23.1% despite growing by 53% YoY to Rs 85.4 crore in Q2FY25, helped by reduced erection & subcontracting and finance costs. Revenue increases 13.4% YoY to Rs 5,119.9 crore, driven by the engineering, procurement & construction (EPC) segment. It appears in a screener of stocks with an increasing trend in non-core income.
Tilaknagar Industries surges to its all-time high of Rs 345 per share as its net profit grows by 57.2% YoY to Rs 58.2 crore in Q2FY25 owing to inventory destocking and lower finance costs. Revenue rises by 10.1% YoY to Rs 826.7 crore during the quarter. It appears in a screener of stocks with PEG lower than industry PEG.
JK Paper is falling as its net profit plunges by 57.5% YoY to Rs 128.5 crore in Q2FY25, caused by increased raw materials, employee benefits, and finance costs. However, revenue grows marginally by 0.3% YoY to Rs 1,714.9 crore, helped by an improvement in the paper & packaging segment. It shows up in a screener of stocks with RSI indicating price weakness.
Embassy Office Parks REIT announces the resignation of its CEO, Aravind Maiya, effective immediately, following a directive by SEBI. This comes after concerns about Maiya’s professional background amid an investigation by the National Financial Reporting Authority.
Bata India's Q2FY25 net profit grows by 52.9% YoY to Rs 52 crore, helped by reduced inventory expenses. Revenue rises by 2.4% YoY to Rs 854.3 crore, driven by exclusive brand store additions for Power and Hush Puppies. It appears in a screener of stocks with increasing profits for the past three quarters.
KP Energy surges to its 5-year high of Rs 636.4 per share as it bags multiple orders from KPI Green Energy to set up renewable energy projects with a total capacity of 1,003.7 MW. The orders include two solar-wind hybrid projects and a solar project to be carried out on an engineering, procurement, construction, and commissioning (EPCC) basis.
Metal stocks like JSW Steel, Tata Steel, Hindustan Zinc, Hindalco Industries, Vedanta, and Jindal Steel & Power are rising in trade. The broader Nifty Metal index is also trading in the green.
Bernstein expects a further decline in the Indian stock market, highlighting that the current market prices have not fully factored in the potential economic slowdown. This comes after almost half of the NSE100 companies that released their Q2 earnings missed estimates by more than 4%. It forecasts the Nifty 50 will drop to 23,500 by year-end due to muted growth and weak demand.
Procter & Gamble Health surges to its 52-week high of Rs 5742.4 per share as its net profit grows by 25.6% YoY to Rs 82.3 crore in Q2FY25, helped by lower raw materials and employee benefits expense. Revenue increases 1.8% YoY to Rs 316.7 crore during the quarter. It features in a screener of stocks with dividend yield greater than the sector dividend yield.
Amara Raja Energy & Mobility is falling sharply as its net profit misses Forecaster estimates by 10.1% after falling by 1.2% YoY to Rs 235.6 crore in Q2FY25 due to higher raw materials, inventory, and employee benefits expenses. However, revenue grows by 9.6% YoY to Rs 3,276.2 crore, driven by the lead acid batteries & allied products segment. It shows up in a screener of high volume and top losing stocks.
Raymond is rising as its Q2FY25 revenue surges by 114.8% YoY to Rs 1,100.7 crore, helped by improvements in the tools & hardware, auto components, and real estate segments. However, net profit plunges 62.4% YoY to Rs 60 crore due to increased property development, raw materials, employee benefits, finance, and manufacturing & operating expenses. It features in a screener of stocks outperforming their industries in the past month.
Morgan Stanley maintains its ‘Overweight’ rating on Apollo Hospitals Enterprise with a target price of Rs 7,110. The brokerage notes the company’s plans to set up a 500-bed hospital in Worli, Mumbai. It expects the share of metro cities in the overall mix will increase to 60% by FY29 from 57% in FY24, likely supporting RoCE expansion.
Indian Railway Catering & Tourism Corp's net profit grows by 4.5% YoY to Rs 307.9 crore in Q2FY25, helped by reduced raw materials, tourism, and finance costs. Revenue increases 8.1% YoY to Rs 1,124 crore, attributed to improvements in the catering, Rail Neer, and internet ticketing segments. It appears in a screener of stocks with improving cash flow from operations over the past two years.
Sagility India raises Rs 945.4 crore from anchor investors ahead of its IPO by allotting around 31.5 crore shares at Rs 30 each. Investors include Government Pension Fund Global, Nomura, Whiteoak Capital, Edelweiss, Florida Retirement, and Mirae Asset India.
Gland Pharma rises sharply as its revenue grows 2.7% YoY to Rs 1,465.5 crore in Q2FY25, attributed to improvements in the USA, Canada, Australia, and New Zealand markets. However, net profit declines by 15.7% YoY to Rs 163.5 crore due to higher inventory and employee benefits expenses. It features in a screener of stocks with low debt.
ABB India is falling as its net profit misses Forecaster estimates by 7.8% despite growing by 21.4% YoY to Rs 440.5 crore in Q2FY25 owing to lower raw materials and inventory costs. Revenue rises by 5.6% YoY to Rs 3,005.1 crore, driven by improvements in the motion and electrification segments. It appears in a screener of stocks where mutual funds decreased their holding in the past quarter.
Nifty 50 was trading at 24,023.85 (28.5, 0.1%), BSE Sensex was trading at 78,542.16 (-240.1, -0.3%) while the broader Nifty 500 was trading at 22,553.05 (34.8, 0.2%).
Market breadth is surging up. Of the 1,938 stocks traded today, 1,356 were gainers and 546 were losers.
Riding High:
Largecap and midcap gainers today include Gland Pharma Ltd. (1,832.85, 13.8%), Adani Energy Solutions Ltd. (1,015, 5.2%) and Oil India Ltd. (495.60, 4.9%).
Downers:
Largecap and midcap losers today include PB Fintech Ltd. (1,627, -5.1%), Torrent Power Ltd. (1,709.90, -4.9%) and Tube Investments of India Ltd. (4,183.30, -3.8%).
Crowd Puller Stocks
28 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Gland Pharma Ltd. (1,832.85, 13.8%), Mangalore Refinery And Petrochemicals Ltd. (163.84, 11.0%) and Hatsun Agro Products Ltd. (1,146.70, 7.4%).
Top high volume losers on BSE were PB Fintech Ltd. (1,627, -5.1%), Torrent Power Ltd. (1,709.90, -4.9%) and Amara Raja Energy & Mobility Ltd. (1,319.55, -4.0%).
Chemplast Sanmar Ltd. (484.70, 2%) was trading at 21.6 times of weekly average. Procter & Gamble Health Ltd. (5,597, 5.9%) and R R Kabel Ltd. (1,515.55, -0.2%) were trading with volumes 20.1 and 11.4 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
6 stocks took off, crossing 52 week highs, while 1 stock hit their 52 week lows.
Stocks touching their year highs included - Deepak Fertilisers & Petrochemicals Corporation Ltd. (1,321.45, 3.4%), Gillette India Ltd. (10,590, 1.9%) and National Aluminium Company Ltd. (235.03, 1.8%).
Stock making new 52 weeks lows included - Delhivery Ltd. (353.90, 0.1%).
17 stocks climbed above their 200 day SMA including Hatsun Agro Products Ltd. (1,146.70, 7.4%) and Oil India Ltd. (495.60, 4.9%). 21 stocks slipped below their 200 SMA including ABB India Ltd. (7,132.85, -3.1%) and KEI Industries Ltd. (3,939.80, -2.9%).