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Trendlyne Marketwatch
23 Oct 2025, 03:56PM
Market closes flat, Eternal gets Rs 128.4 crore GST demand
By Trendlyne Analysis

 

Nifty 50 closed at 25,891.40 (22.8, 0.1%), BSE Sensex closed at 84,556.40 (130.1, 0.2%) while the broader Nifty 500 closed at 23,755.90 (-3.3, 0.0%). Market breadth is in the red. Of the 2,596 stocks traded today, 1,048 were on the uptrend, and 1,507 went down.

Indian indices closed flat after paring gains in the afternoon session. The Indian volatility index, Nifty VIX, rose 3.9% and closed at 11.7 points. Hindustan Unilever closed higher after reporting a 3.6% YoY rise in Q2FY26 net profit, supported by an exceptional gain of Rs 184 crore. Revenue increased 2% YoY.

Nifty Smallcap 100 and Nifty Midcap 100 closed flat. S&P BSE Services and Nifty Alpha 50 were among the top index losers today. According to Trendlyne’s sector dashboard, Hardware Technology & Equipment emerged as the worst-performing sector of the day, with a fall of 1.7%.

Asian indices closed mixed. European indices are trading mixed. US index futures are trading flat, indicating a cautious start to the trading session. Investors are awaiting Intel’s earnings and monitoring potential trade agreements between the US and China. Meanwhile, US President Donald Trump announced sanctions on Russia’s largest oil companies, Lukoil and Rosneft, citing Moscow’s “lack of serious commitment to a peace process to end the war in Ukraine.”

  • Relative strength index (RSI) indicates that stocks like Ceat, Federal Bank, Ather Energy, and JK Tyre & Industries are in the overbought zone.

  • Caplin Point Laboratories' arm, Caplin Steriles, gets USFDA approval for its abbreviated new drug application (ANDA) for Nicardipine Hydrochloride injection. The drug is used to treat hypertension and had sales of around $68 million in the 12 months ending August 2025.

  • Vodafone Idea rises following reports of a strategic shift towards homegrown telecom technology. The company is collaborating with Indian vendors like Tejas Networks, HFCL, and HCL Technologies to localise 4G and 5G infrastructure, cut costs, and accelerate network rollouts.

  • Warren Harris, MD and CEO of Tata Technologies highlights the company's target to deliver double-digit revenue growth in FY27, with margins at 18-20%. He adds that the company is focusing on strengthening its presence in Germany, and also notes strong growth in the European region.

  • Muthoot Finance declines as gold prices retreat from their recent record highs, with profit booking in the bullion market weighing on sentiment for the gold-backed lender.

  • EPack Prefab Technologies surges to a new all-time high of Rs 244.1 as its Q2FY26 net profit doubles YoY to Rs 29.5 crore. Revenue increases 61.9% YoY to Rs 433.9 crore, driven by higher sales from the prefab segment during the quarter. The company appears in a screener of stocks with over 10% three-month gains and rising profits.

  • Eternal declines sharply as it receives a Rs 128.4 crore GST demand order from Uttar Pradesh authorities over alleged tax short payments and excess input tax credit. This development adds to the company’s ongoing tax troubles across multiple states.

  • Priya Nair, MD and CEO of Hindustan Unilever, highlights the company's long-term strategy of volume-led growth. She adds that the company plans to transform its core brands, and invest in high-growth segments. Nair targets margins to reach 23-24%.

  • Pace Digitek is rising as it receives an order worth Rs 1,159.3 crore from Solar Energy Corporation of India (SECI) to supply and install a 600 MW / 1200 MWh battery energy storage system (BESS), along with a 10-year service and maintenance contract.

  • Bharat Forge rises sharply on Thursday as it secures a Rs 2,770 crore contract with PLR Systems to supply close-quarter battle carbines for the Indian Army.

  • Garuda Construction and Engineering surges as it secures an order worth approximately Rs 231 crore to build a 6.2 lakh sq ft rehabilitation project in Chandivali, Mumbai.

  • Vikram Solar is rising as it secures an order from Sunsure Energy to supply 148.9 MW high-efficiency solar modules for projects in Maharashtra and Uttar Pradesh.

  • Saurabh Gupta, CFO of Dixon Technologies, highlights healthy order book visibility for the next six months. He notes strong demand in the washing machine segment, and attributes it to the GST cut. Gupta underlines the company's target to double its revenue by FY27-28.

  • Hindustan Unilever is rising as its Q2FY26 net profit rises 3.6% YoY to Rs 2,685 crore, helped by an exceptional gain of Rs 184 crore. Revenue increases 2% YoY to Rs 16,241 crore, driven by higher sales from the home care and beauty & wellbeing segments during the quarter. The company appears in a screener of stocks with zero promoter pledges.

  • Reliance Industries declines on Thursday due to US sanctions on Russian oil majors Rosneft and Lukoil, which are expected to cut Russian oil supplies to Indian refiners severely. The move may disrupt Reliance Industries’ long-term contract with Rosneft, potentially driving up India’s oil procurement costs and forcing a shift to alternative sources.

  • Kalpataru Projects International secures new orders worth Rs 2,332 crore in the power transmission and distribution (T&D) segment overseas and in the buildings and factories (B&F) business in India.

  • Textile stocks like Gokaldas Exports, Welspun Living, and Vardhman Textiles are rising amid rising optimism of a trade deal with the US. ICICI Securities believes a potential India-US trade deal with lower tariffs would give the sector a key advantage over Vietnam and Bangladesh, improving export share.

  • Urban Company falls sharply after Morgan Stanley initiates coverage with an ‘Underweight’ rating and a target price of Rs 117. The brokerage highlights that the firm operates in a large and growing online home services market with strong moats. However, it believes the current valuation already factors in future growth.

  • NMDC is falling as it cuts lump ore prices to Rs 5,550 per tonne from Rs 6,100 and fines to Rs 4,750 per tonne from Rs 5,250, effective October 22.

  • Torrent Pharmaceuticals receives approval from the Competition Commission of India (CCI) to acquire a controlling stake in J B Chemicals & Pharmaceuticals from KKR for around $3 billion.

  • UBS upgrades its rating on Titan to a 'Buy' rating with a higher target price of Rs 4,700. The brokerage believes the company is poised for a major rebound, helped by its strong performance despite gold price volatility. It views Titan as a standout player in the jewellery industry, backed by strong brands, consumer trust, and significant scale.

  • Kirloskar Ferrous Industries is rising as it receives an order worth Rs 358 crore from Oil and Natural Gas Corp (ONGC) to supply steel pipe components used in oil and gas drilling operations.

  • Ola Electric Mobility's board of directors schedules a meeting on October 25 to consider a proposal to raise funds by issuing securities through a preferential issue, private placement or other modes.

  • Jain Resource Recycling rises to its all-time high of Rs 372 as its net profit surges 65.2% YoY to Rs 99.3 crore in Q2FY26 due to inventory destocking. Revenue increases 41.2% YoY to Rs 2,113.7 crore, driven by higher sales from the aluminium and lead segments during the quarter. The company appears in a screener of stocks outperforming their industry price change over the past quarter.

  • Bharat Electronics is rising as it receives an order worth Rs 633 crore from Cochin Shipyard to supply sensors, weapon equipment, fire control systems and communication equipment.

  • Upbeat trading today, as Nifty 50 was trading at 26,006.85 (138.3, 0.5%), BSE Sensex was trading at 85,154.15 (727.8, 0.9%) while the broader Nifty 500 was trading at 23,833.25 (74.1, 0.3%).

Riding High:

Largecap and midcap gainers today include Info Edge (India) Ltd. (1,380.10, 4.8%), Bharat Forge Ltd. (1,300.10, 4.6%) and Bank of India (135.53, 4.1%).

Downers:

Largecap and midcap losers today include Tata Communications Ltd. (1,852.20, -3.3%), Adani Power Ltd. (165.26, -3.2%) and Hindustan Petroleum Corporation Ltd. (440.70, -3.2%).

Volume Rockets

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

Top high volume gainers on BSE included Birlasoft Ltd. (378.10, 7.7%), KPR Mill Ltd. (1,082.60, 5.8%) and Vardhman Textiles Ltd. (430, 5.3%).

Top high volume losers on BSE were Godfrey Phillips India Ltd. (3,164.40, -6.9%), Fortis Healthcare Ltd. (1,049.45, -4.4%) and Muthoot Finance Ltd. (3,182.10, -2.8%).

Sonata Software Ltd. (373.10, 2.7%) was trading at 15.8 times of weekly average. Welspun Living Ltd. (127.92, 4.4%) and Sagility Ltd. (47.52, 3.4%) were trading with volumes 10.4 and 7.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

31 stocks made 52 week highs,

Stocks touching their year highs included - Apollo Hospitals Enterprise Ltd. (7,968.50, -0.5%), Axis Bank Ltd. (1,258.80, 1.7%) and Bajaj Finance Ltd. (1,094.15, 0.7%).

22 stocks climbed above their 200 day SMA including KPR Mill Ltd. (1,082.60, 5.8%) and Vardhman Textiles Ltd. (430, 5.3%). 6 stocks slipped below their 200 SMA including Dixon Technologies (India) Ltd. (15,611, -3.2%) and Lloyds Metals & Energy Ltd. (1,324.20, -2.0%).

 
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