Market closes higher following NDA's victory in the Bihar state elections
By Trendlyne Analysis

 

 

Nifty 50 closed at 25,910.05 (30.9, 0.1%), BSE Sensex closed at 84,562.78 (84.1, 0.1%) while the broader Nifty 500 closed at 23,836.35 (20.4, 0.1%). Market breadth is in the red. Of the 2,599 stocks traded today, 1,130 showed gains, and 1,432 showed losses.

Indian indices closed higher following NDA's victory in the Bihar state elections. The Indian volatility index, Nifty VIX, fell 1.8% and closed at 11.9 points. Pine Labs' shares made their debut on the bourses at a 9.5% premium to the issue price of Rs 221. The Rs 3,899.9 crore IPO received bids for 2.5 times the total shares on offer.

Nifty Smallcap 100 closed higher, while Nifty Midcap 100 closed flat. Nifty PSU Bank and Nifty India Defence closed higher. According to Trendlyne’s Sector dashboard, Diversified emerged as the best-performing sector of the day, with a rise of 1%.

European indices are trading lower. Major Asian indices closed mixed. US index futures are trading in the red, indicating a cautious start to the session, as investors assess the impact of the Federal Reserve’s reluctance on further rate cuts. Meanwhile, Applied Materials fell in premarket trading after warning that spending on chip-making equipment in China is likely to decline next year amid tighter US export controls.

  • Money flow index (MFI) indicates that stocks like Chennai Petroleum, Kirloskar Oil Engines, CCL Products India, and Max Financial Services are in the overbought zone.

  • Natco Pharma is falling as its Q2FY26 net profit declines 23.5% YoY to Rs 518.4 crore due to higher raw materials, inventory, finance, employee benefits, and depreciation & amortisation expenses. However, revenue grows 2% YoY to Rs 1,463 crore, led by an improvement in the agrochemicals segment. It shows up in a screener of stocks with growing costs YoY for long-term projects.

  • Muthoot Finance rises to its 52-week high as its net profit surges 88% YoY to Rs 4,391 crore in Q2FY26. Revenue increases 55% to Rs 11,897 crore, driven by strong growth in its gold loan portfolio. It appears in a screener of undervalued growth stocks.

  • Akums Drugs & Pharmaceuticals falls as net profit drops 36% YoY to Rs 43 crore in Q2FY26, hit by lower API prices, and higher overhead from new facilities. Revenue remains largely flat at Rs 1,018 crore, as CDMO volume growth is offset by reduced trade generics and API sales. It appears in a screener of stocks with PE higher than the industry PE.

  • HSBC upgrades Jubilant Foodworks to a 'Buy' rating with a target price of Rs 660. The brokerage highlights the company’s strong franchise quality, ongoing strategic initiatives, and easing competitive pressures. HSBC notes that while same-store sales growth (SSSG) in the second half of FY26 is likely to moderate versus the first half, its 5% forecast for H2FY26 remains solid and compares well with other consumer peers, leaving scope for upside.

  • Man Industries surges as its net profit grows 16.1% YoY to Rs 37 crore in Q2FY26, helped by lower material costs. Revenue increases 3.5% YoY to Rs 834.1 crore, driven by higher sales in the steel products segment during the quarter. The company appears in a screener of stocks with improving RoCE over the past two years.

  • MRF's Q2FY26 net profit grows 11.7% YoY to Rs 525.6 crore, supported by lower raw material expenses. Revenue increases 7% YoY to Rs 7,486.8 crore during the quarter. It appears in a screener of stocks with increasing revenue for the past three quarters.

  • Adani Green Energy's subsidiary, Adani Saur Urja (KA), secures a letter of award (LoA) from Assam Power Distribution Co (APDCL) to procure 500 MW of energy storage capacity at a tariff of Rs 1 lakh per MW per annum, totalling Rs 514.6 crore per annum. The company plans to set up two pumped storage plants (PSPs) in the state with a combined capacity of 2,700 MW, at a capex of Rs 15,000 crore.

  • IT stocks like Infosys and HCLTech decline amid rising expectations that the US Federal Reserve will keep its policy rate unchanged at the December FOMC meeting. A growing number of Fed policymakers are signalling a reluctance to cut rates further.

  • Adani Power is rising as it bags a letter of award (LoA) from Assam Power Distribution Co (APDCL) to supply 3,200 MW of power. The company will set up a 4x800 MW ultra-supercritical thermal power plant in the state, with a capex of Rs 48,000 crore.

  • Apollo Tyres falls as its net profit declines 13.3% YoY to Rs 258 crore in Q2FY26, hit by restructuring costs for its Netherlands subsidiary. Revenue rises 6.1% to Rs 6,831 crore, led by strong growth in Asia-Pacific, Middle East & Africa and Europe. It appears in a screener of stocks with PE higher than the industry PE.

  • Dollar Industries is rising as its net profit grows 32.7% YoY to Rs 35.2 crore in Q2FY26, helped by inventory destocking and lower finance costs. Revenue increases 5.6% YoY to Rs 471.9 crore, driven by higher sales in the thermals segment during the quarter. The company appears in a screener of stocks with improving book value per share over the past two years.

  • Reports suggest that 5.2 crore shares (0.4% equity) of ITC, amounting to Rs 2,074.5 crore, have changed hands in a block deal.

  • LG Electronics India is falling as its Q2FY26 net profit declines 27.3% YoY to Rs 389.4 crore due to higher inventory, employee benefits and finance costs. However, revenue grows 1.2% YoY to Rs 6,253.8 crore, led by an improvement in the home entertainment segment. It shows up in a screener of stocks with high market capitalisation and low public shareholding.

  • Godrej Consumer Products (GCPL) acquires men’s grooming brand Muuchstac in a Rs 450 crore deal to strengthen its presence in the category. GCPL added that the brand’s promoters will continue to run the business.

  • Aurobindo Pharma receives Form 483 with five observations from the US FDA following an inspection at its subsidiary, Apitoria Pharma's, active pharmaceutical ingredient (API) manufacturing facility, Unit-1.

  • India’s WPI inflation slips into the negative territory at –1.2% in October, compared to 0.1% in September. The decline reflects lower prices for key primary commodities and manufacturing inputs, resulting in the softest price movement in three months.

  • Bharat Dynamics is rising sharply as its Q2FY26 net profit surges 76.2% YoY to Rs 215.9 crore, owing to inventory destocking. Revenue jumps 101% YoY to Rs 1,267.6 crore, driven by an improvement in order execution. The company bags a Rs 2,095.7 crore order from the Ministry of Defence to supply Invar anti-tank missiles to the Indian Army.

  • Pine Labs' shares debut on the bourses at a 9.5% premium to the issue price of Rs 221. The Rs 3,899.9 crore IPO received bids for 2.5 times the total shares on offer.

  • Relaxo Footwears is falling as its net profit declines 1.6% YoY to Rs 36.2 crore in Q2FY26. Revenue decreases 7.5% YoY to Rs 628.5 crore, driven by delayed purchases due to the implementation of GST 2.0 norms. The company appears in a screener of stocks outperforming their industry price change in the quarter.

  • Macquarie maintains a 'Neutral' rating on Voltas with a target price of Rs 1,358. The brokerage notes that the unitary cooling products (UCP) segment posted a loss in Q2, with cost under-absorption at new facilities weighing on EBIT. Despite soft demand, the company gained market share QoQ. Project business growth was supported by strong domestic execution. It adds that demand recovery will remain critical for future growth.

  • Jubilant Foodworks is rising sharply as its Q2FY26 net profit surges 2.9x YoY to Rs 186 crore, helped by lower finance costs and a one-time gain of Rs 84.7 crore from the sale of a Russian subsidiary. Revenue grows 18.7% YoY to Rs 2,355.4 crore, driven by new store additions and an improvement in Domino's India. It features in a screener of stocks with increasing revenue for the past three quarters.

  • Hero MotoCorp rises as its Q2FY26 net profit jumps 23% YoY to Rs 1,308.9 crore, owing to inventory destocking. Revenue increases 16.2% YoY to Rs 12,458.8 crore, led by improvements in scooter and motorcycle sales. It appears in a screener of stocks near their 52-week highs with significant volumes.

  • Voltas' Q2FY26 net profit plunges 74.4% YoY to Rs 34.3 crore due to higher marketing expenses. Revenue decreases 10.4% YoY to Rs 2,347.3 crore, driven by lower sales in the unitary cooling products segment during the quarter. The company appears in a screener of stocks underperforming their industry price change in the quarter.

  • Eicher Motors' Q2FY26 net profit grows 24.5% YoY to Rs 1,369.5 crore, helped by lower inventory expenses. Revenue jumps 41.3% YoY to Rs 6,522.5 crore, supported by an improvement in two-wheeler sales. It features in a screener of stocks with high momentum scores.

  • Nifty 50 was trading at 25,798.75 (-80.4, -0.3%), BSE Sensex was trading at 84,262.69 (-216.0, -0.3%), while the broader Nifty 500 was trading at 23,778.25 (-37.8, -0.2%).

  • Market breadth is in the red. Of the 2,107 stocks traded today, 959 were in the positive territory and 1,067 were negative.

Riding High:

Largecap and midcap gainers today include Ipca Laboratories Ltd. (1,479.60, 13.6%), Muthoot Finance Ltd. (3,725.60, 9.8%) and Jubilant Foodworks Ltd. (615.30, 7.3%).

Downers:

Largecap and midcap losers today include Supreme Industries Ltd. (3,709.80, -3.2%), Infosys Ltd. (1,502.80, -2.5%) and SRF Ltd. (2,839.10, -2.5%).

Volume Rockets

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

Top high volume gainers on BSE included Ipca Laboratories Ltd. (1,479.60, 13.6%), Muthoot Finance Ltd. (3,725.60, 9.8%) and Aether Industries Ltd. (838.90, 8.5%).

Top high volume losers on BSE were BASF India Ltd. (4,413.20, -2.4%), Bombay Burmah Trading Corporation Ltd. (1,830.70, -2.3%) and Cera Sanitaryware Ltd. (5,617, -1.2%).

Sagility Ltd. (53.28, 5.6%) was trading at 27.8 times of weekly average. Star Health and Allied Insurance Company Ltd. (522.45, 4.3%) and Jubilant Foodworks Ltd. (615.30, 7.3%) were trading with volumes 9.3 and 8.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

12 stocks made 52 week highs, while 11 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Adani Ports & Special Economic Zone Ltd. (1,512.70, 0.9%), Adani Energy Solutions Ltd. (1,023.85, 0.2%) and Ashok Leyland Ltd. (148.26, -1.4%).

Stocks making new 52 weeks lows included - Bata India Ltd. (1,027.10, -1.8%) and SKF India Ltd. (2,045, -0.1%).

16 stocks climbed above their 200 day SMA including Ipca Laboratories Ltd. (1,479.60, 13.6%) and Aether Industries Ltd. (838.90, 8.5%). 15 stocks slipped below their 200 SMA including Premier Energies Ltd. (997.90, -6.0%) and Aditya Birla Sun Life AMC Ltd. (733.95, -2.3%).

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