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Trendlyne Marketwatch
24 Oct 2025, 04:02PM
Market closes lower, L&T bags orders worth over Rs 2,500 crore
By Trendlyne Analysis

 

Nifty 50 closed at 25,795.15 (-96.3, -0.4%), BSE Sensex closed at 84,211.88 (-344.5, -0.4%) while the broader Nifty 500 closed at 23,686.60 (-69.3, -0.3%). Market breadth is in the red. Of the 2,575 stocks traded today, 1,003 were in the positive territory and 1,523 were negative.

Indian indices closed lower after extending loses throughout the day. The Indian volatility index, Nifty VIX, fell 1.2% and closed at 11.6 points. Colgate-Palmolive (India) closed 2.1% lower after reporting 6.2% YoY drop in Q2FY26 revenue due to the temporary disruptions at distributors and retailers following a reduction in GST rates on the entire oral care portfolio.

Nifty Smallcap 100 and Nifty Midcap 100 closed lower. S&P BSE SME IPO and Nifty Healthcare Index were among the top index losers today. According to Trendlyne’s sector dashboard, FMCG emerged as the worst-performing sector of the day, with a fall of 1.7%.

Asian indices closed mixed. European indices are trading lower, except for the Netherlands’ AEX. US index futures are trading higher, indicating a positive start to the trading session. Investors are awaiting the delayed US consumer price index data. Meanwhile, President Trump said he has terminated trade negotiations with Canada over a television advertisement opposing US tariffs.

  • Money flow index (MFI) indicates that stocks like Ceat, Indian Bank, Federal Bank, and JK Tyre & Industries are in the overbought zone.

  • Cigniti Technologies' Q2FY26 net profit rises 25.3% QoQ to Rs 82.6 crore, helped by lower employee benefit expenses. Revenue increases 6.2% QoQ to Rs 567.3 crore, driven by higher sales in the digital assurance and testing services during the quarter. The company appears in a screener of stocks with declining ROA over the past two years.

  • ITC Hotels' Q2FY26 net profit rises 74.3% YoY to Rs 132.8 crore. Revenue increases 7.9% YoY to Rs 839.5 crore, driven by higher room occupancy and better average daily rates during the quarter. The company appears in a screener of stocks where mutual funds have increased their shareholding in the past two months.

  • Aditya Birla Sun Life AMC's Q2FY26 net profit declines marginally by 0.4% YoY to Rs 241.3 crore. Revenue increases 8.7% YoY to Rs 461.3 crore, driven by higher assets under management (AUM) and sales of its mutual fund products during the quarter. The company appears in a screener of stocks with improving ROE over the past two years.

  • Citi maintains its ‘Sell’ rating on Colgate-Palmolive (India) and lowers its target price to Rs 2,100. The brokerage notes that Q2 performance was impacted by heightened competition and temporary GST-related destocking. It expects a gradual recovery in H2 as inventory levels normalise and pricing actions take effect.

  • Geojit BNP Paribas upgrades its rating on Avanti Feeds to ‘Buy’ with a target price of Rs 830 per share. This indicates a potential upside of 15%. The brokerage remains positive on the stock, supported by its strong presence in shrimp feed manufacturing, expanding processing capacity, and diversification into new markets. It expects revenue and net profit to grow at a CAGR of 5% and 17%, respectively, over FY26–27.

  • Refex Industries is rising as it secures an order worth Rs 300 crore from a large mining company in Jharkhand for overburden removal, excavation, and coal transportation.

  • National Aluminium Co rises sharply as global metal prices surge on hopes of easing US–China trade tensions, reducing tariff risks and supporting stronger global demand. Aluminium prices cross $2,850 per tonne on the LME amid tight supply and a smelter outage in Iceland, boosting NALCO’s stock on expectations of higher realisations.

  • Sanjay Singhania, MD and CEO of EPack Prefab Technologies, attributes the company’s strong H1 performance to a healthy order book and expects it to reach Rs 1,600–1,700 crore in FY26. He highlights the company’s focus on product expansion and anticipates 30–35% revenue growth over the next 3–5 years.

  • NTPC Green Energy is rising as it expands its capacity by 9.9 MW of wind in Bhuj, Gujarat. With this expansion, the NGEL Group's total installed capacity increases to 7563.6 MW from 7553.7 MW.

  • Defence stocks like Bharat Dynamics, BEML, Cochin Shipyard, and Paras Defence are rising as the Defence Acquisition Council (DAC) approves procurement proposals worth Rs 79,000 crore to strengthen the Indian armed forces.

  • Shipping Corp of India rises to its 52-week high as reports suggest the government may halt its privatisation plans. The company’s board has also approved a long-term business plan to boost future operations. The move aims to strengthen control over shipping amid global route disruptions and reduce reliance on foreign vessels.

  • India’s flash PMI eases to a five-month low of 59.9 in October, a slight dip from 61 in September, but continues to signal strong expansion. Manufacturing growth remains ahead of services. New orders rise at a slower pace, as international demand weakens, particularly from the US.

  • Thyrocare Technologies' promoter, Docon, sells over 53 lakh shares (10% stake) in the open market for Rs 667.7 crore at an average price of Rs 1,252 per share.

  • Crompton Greaves Consumer Electricals is rising as it receives an order worth Rs 445 crore from the New & Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) to design, supply, install, test, and commission 2 KW solar rooftop systems.

  • PTC India Financial Services surges as its net profit rises 86.2% YoY to Rs 88.1 crore in Q2FY26, driven by the resolution of legacy bad loans. However, revenue decreases 19.3% YoY to Rs 131.8 crore due to lower loan sanctions and disbursements in the power sector during the quarter. The company appears in a screener of stocks with improving book value per share over the past two years.

  • Satyanarayana Chava, CEO of Laurus Labs, remains confident about the growth momentum in the CDMO (contract development and manufacturing organisation) business, supported by a strong product pipeline. He notes that the company spent Rs 480 crore on capex in H1 and expects to invest another Rs 500 crore in H2. Chava also targets EBITDA margins of around 25% in FY25.

  • Midwest's shares debut on the bourses at a 9.4% premium to the issue price of Rs 1,065. The Rs 451 crore IPO received bids for 87.9 times the total shares on offer.

  • Larsen & Toubro's minerals & metals (M&M) business secures orders worth Rs 2,500-5,000 crore in India. These include a Hindalco order for an aluminium smelter with a gas treatment centre in Odisha, a Tata Steel order for a 1 MTPA coke oven battery in Jamshedpur, and multiple orders for mining and material handling equipment nationwide.

  • AGI Infra's board of directors approves raising Rs 500 crore by issuing securities through a qualified institutional placement (QIP) or other modes.

  • Nuvama notes Cipla's distribution and promotion deal with Eli Lilly for weight-loss drug tirzepatide, under a brand new name, Yurpeak. The brokerage maintains a Hold rating and raises its target price to Rs 1,725, citing the drug’s earnings potential. It views the deal as a strategic positive, giving Cipla an early entry into India’s under-penetrated GLP-1 (obesity/diabetes) market. Nuvama expects Yurpeak to generate revenues of Rs 360–370 crore over FY26–27E.

  • Premier Energies plans to acquire a 51% stake in Transcon Industries for Rs 500.3 crore to enter the transformer manufacturing business.

  • Federal Bank rises to a new all-time high of Rs 232.2 as its board approves the issue of warrants worth Rs 6,196 crore to Blackstone. Post-issue, Blackstone will hold approximately 10% stake in the company.

  • Syrma SGS Technology is rising as it signs an agreement with Premier Energies to acquire KSolare Energy for Rs 170 crore. The company will purchase a 49% stake, marking its entry into the solar inverter business.

  • Colgate-Palmolive (India) is falling as its net profit declines 17.1% YoY to Rs 327.5 crore in Q2FY26. Revenue decreases 6.2% YoY to Rs 1,519.5 crore due to the temporary disruptions at distributors and retailers following a reduction in GST rates on the entire oral care portfolio. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • Nifty 50 was trading at 25,850.80 (-40.6, -0.2%), BSE Sensex was trading at 84,559.65 (3.3, 0%) while the broader Nifty 500 was trading at 23,733.15 (-22.8, -0.1%).

  • Market breadth is in the green. Of the 2,098 stocks traded today, 1,086 were gainers and 949 were losers.

Riding High:

Largecap and midcap gainers today include Hindalco Industries Ltd. (824.45, 4.0%), Cholamandalam Investment & Finance Company Ltd. (1,733.60, 2.9%) and Cummins India Ltd. (4,183.20, 2.7%).

Downers:

Largecap and midcap losers today include Cipla Ltd. (1,584.40, -3.7%), Supreme Industries Ltd. (4,003.70, -3.6%) and Hindustan Unilever Ltd. (2,516.40, -3.3%).

Movers and Shakers

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

Top high volume gainers on BSE included Sammaan Capital Ltd. (188.25, 7.9%), CreditAccess Grameen Ltd. (1,417, 6.2%) and Cholamandalam Financial Holdings Ltd. (2,012.70, 6.2%).

Top high volume losers on BSE were Supreme Industries Ltd. (4,003.70, -3.6%), Concord Biotech Ltd. (1,474.50, -2.5%) and Devyani International Ltd. (162.54, -2.4%).

Capri Global Capital Ltd. (204.96, 2.7%) was trading at 6.1 times of weekly average. Blue Star Ltd. (2,006, 1.7%) and BEML Ltd. (4,438.10, 0.9%) were trading with volumes 5.4 and 5.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

10 stocks overperformed with 52 week highs, while 3 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Cholamandalam Investment & Finance Company Ltd. (1,733.60, 2.9%), Cummins India Ltd. (4,183.20, 2.7%) and Federal Bank Ltd. (227.40, -0.2%).

Stocks making new 52 weeks lows included - Westlife Foodworld Ltd. (587.85, -1.7%) and Tejas Networks Ltd. (538.70, -0.2%).

10 stocks climbed above their 200 day SMA including Esab India Ltd. (5,030, 1.3%) and ICICI Bank Ltd. (1,377.70, 1.0%). 9 stocks slipped below their 200 SMA including Supreme Industries Ltd. (4,003.70, -3.6%) and LMW Ltd. (15,413, -1.8%).

 
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