Closing Bell: Nifty below 19,000, Sensex falls 284 pts; pharma, realty gain

Benchmark indices ended lower for the second straight session on November 1 with Nifty below 19,000. At close, the Sensex was down 283.60 points or 0.44 percent at 63,591.33, and the Nifty was down 90.40 points or 0.47 percent at 18,989.20.

We wrap up today's edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices/ for all the global market action.

Ajit Mishra, SVP - Technical Research, Religare Broking:

Markets edged lower for the second consecutive session and lost nearly half a percent. The tone was subdued from the beginning and Nifty remained under pressure till the end to finally close at 18988 levels. Meanwhile, mixed trend on the sectoral front kept the traders busy wherein metal, IT and auto were among the losers while realty and pharma closed in the green. The broader indices showed resilience amid the negativity and managed to end on a flat note.

This decline reaffirms our negative view on the index and we suggest continuing with a “sell on rise” approach until Nifty decisively reclaims 19,400 or forms a reversal pattern. However, an intermediate rebound on the global front might cap the pace of fall. While the majority of sectors trading in sync with the benchmark, select stocks across sectors are still showing resilience. Traders should align their positions accordingly and focus more on stock selection.

Deepak Jasani, Head of Retail Research, HDFC Securities

Nifty declined on November 01 for the second consecutive session. At close, Nifty was down 0.46% or 87.7 points at 18991.9. Volumes on the NSE continued to be on the lower side. Broad market indices fell less than the Nifty even as the advance decline ratio ended at 0.80:1.

Asian stocks were mixed on Wednesday ahead of a keenly awaited policy decision from the Federal Reserve later in the day while European markets were slightly higher.

Indian government's Goods and Services Tax (GST) collections climbed 13 percent year-on-year in October (up 5.71% MoM) to Rs 1.72 lakh crore, second-highest revenue collection ever.

India's manufacturing activity fell to an eight-month low in October, with new orders rising at their slowest pace in a year, a private survey showed. The India Manufacturing Purchasing Managers’ Index stood at 55.5 in October, compared with 57.5 in September.

Nifty fell for the second consecutive session forming a lower top formation. It could now stay in the 18926-19159 band for the near term.

Prashanth Tapse, Senior VP (Research), Mehta Equities

Investors continued to trade with caution and trimmed their equity exposure as markets extended fall for the second straight session amid selling in metal, power, auto and banking stocks while gains in telecom stocks curbed losses. FIIs offloading shares in the domestic market continues to hurt sentiment while strong US growth indicators indicate that interest rates may stay elevated going ahead. Investors sentiment was also primarily clouded by lingering concerns about corporate India’s Q2 earnings which as of now is uninspiring. Technically, upside in Nifty could be seen only above the biggest hurdle at 19289 mark, while support is placed at 18823 mark.

Aditya Gaggar Director of Progressive Shares

After forming a bearish candle on the previous day, follow-through action was seen in today's session and bears struck back by breaching the psychological support of 19,000. Nifty50 corrected by 90.45 points or 0.47% and settled at 18,989.15. Metal was the major laggard in today's trade followed by IT while the Realty segment extended its northward journey. Selective buying was observed in the Pharma and Media sectors. Mid and Smallcaps also corrected but managed to outperform heavyweights. Back-to-back bearish candles on the daily chart indicate that the relief rally seems to be over and now the Index is heading toward filling the bullish gap zone i.e. 18,865-18,925.

Vinod Nair, Head of Research at Geojit Financial Services:

The domestic indices were responding to the global signals ahead of the Fed's monetary policy decision later in the day, while the global market was also assimilating to the mixed bag of US corporate earnings reports. Markets anticipate a status quo in the Fed policy however sustenance of the high rate for a prolonged period is the issue. Ease in demand, as reflected by October PMI data, led to more cautiousness in India compared to Asian & European peers. However, good H1 gross tax collection and in-line expectation monthly volume demand by the auto sector, resulted in a minimal negative effect.

Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities:

Prior to the FOMC meeting, the index faced selling pressure from higher levels but successfully held the 18,940 support level. Immediate resistance on the upside is identified at 19,100, and a breakout above this level may trigger short-covering moves toward the 19,250-19,300 range. Conversely, if the lower-end support at 18,940 is breached on a closing basis, it could intensify selling pressure, potentially pushing the index to new lows.

The Bank Nifty index formed a doji candle, suggesting a state of indecision at the current levels, with a battle between bulls and bears. Immediate resistance is observed at 43,000, where significant open interest is concentrated on the call side. A breach above this level could trigger short-covering moves towards 43,500. Conversely, the lower-end support is positioned at 42,400, and if it is breached on a closing basis, it may escalate the selling pressure.

Jaykrishna Gandhi, Head - Business Development, Institutional Equities, Emkay Global Financial Services:

Geopolitical concerns, largely unexciting earnings and awaiting FOMC tonight in US keep the markets in a fairly volatile state. US markets have seen some gains in the past few days going into FOMC while China continues to be topsy turvy as industrial production once again suffered which drove markets down. Lack of a material stimulus by the Chinese government continues to weigh on the markets there.

Indian markets tested the lows of 18800 but bounced back and now seem to have averted making new recent lows in the current expiry. Tonight’s FOMC will be a key trigger for markets for the rest of the week as that will put to rest the discussion of further rate hikes and also potentially give some insight into inflation as well the path for rate cuts.

Near term supports seem to be places at 18850-19000 and on the upside resistance places at 19200-19250.

Rupee Close:

Indian rupee ended marginally lower at 83.28 per dollar versus previous close of 83.25.

Market Close: Benchmark indices ended lower for the second straight session on November 1 with Nifty below 19,000.

At close, the Sensex was down 283.60 points or 0.44 percent at 63,591.33, and the Nifty was down 90.40 points or 0.47 percent at 18,989.20. About 1549 shares advanced, 1892 shares declined, and 129 shares unchanged.

Top losers on the Nifty included Adani Enterprises, Coal India, Adani Ports, SBI Life Insurance and Asian Paints, while gainers were Sun Pharma, BPCL, Hindalco Industries, Bajaj Auto and Reliance Industries.

Except healthcare, oil & gas and realty all other sectoral indices ended in the red with auto, capital goods, metal, Information Technology and power down 0.5-1.5 percent each.

The BSE midcap index shed 0.4 percent, while smallcap index ended on a flat note.

Ashok Leyland October Sales | Total sales were up 13% at 16,864 units versus 14,863 units, YoY.

Sensex Today | Mamaearth IPO subscribed 62%, retail portion booked 54% on Day 2

Mamaearth’s parent, Honasa Consumer IPO has been subscribed 62% so far on November 1, receiving bids for 1.77 crore shares against the issue size of 2.89 crore shares. Retail investors bought 54%, high net worth individuals (HNI) bought 6% and qualified institutional buyers (QIB) picked 91% of the allotted quota.

Varun Alagh and Ghazal Alag owned firm has reserved 75 percent of the net issue size for QIBs, 15 percent for HNIs and the remaining 10 percent for retail investors. The price band for the offer, which will close on November 2, has been fixed at Rs 308-324 per share. Read More

Sensex Today | Cello World IPO: Final day sees 34 times subscription backed by QIB, HNIs

The Cello World IPO has garnered strong demand from the investors community on the final day of subscription, November 1, receiving bids for 75.11 crore equity shares so far, which is 34.05 times the IPO size of 2.2 crore equity shares.

Qualified institutional buyers, who have 50 percent reservation in the offer, provided support to the issue with buying 94.13 times the allotted quota, while the part set aside for high networth individuals, which is 15 percent of the net offer, was subscribed 22.63 times.

Retail investors have bid 2.68 times the reserved portion, which is 35 percent of the net issue, while employees have bought 2.32 times their quota.

The consumer products company has reserved Rs 10 crore worth of shares for its employees, which will be given at a discount of Rs 61 each to the final offer price. The issue, excluding the employee portion, is the net offer. Read More

Sensex Today | Blue Jet Healthcare trades over 14% premium to issue price

Shares of Blue Jet Healthcare Ltd were trading over 14 percent higher on November 1 after its initial public offering was subscribed nearly 8 times last week.

The stock opened at Rs 359 and touched a high and a low of Rs 395.85 and Rs 359.90 a share on BSE. At 3.13pm, the scrip was trading at Rs 395 on BSE, up 14.3 percent from its issue price of Rs 346 a share.

The Blue Jet Healthcare IPO was oversubscribed at 7.94 times, with 13.5 crore equity shares bid for in comparison to the 1.7 crore offered. High net worth individuals (HNIs) subscribed 13.59 times their quota, while qualified institutional buyers subscribed 13.72 times their portion. Retail investors' segment was subscribed 2.22 times. Read More

Stock Market LIVE Updates | Morgan Stanley View On Kaynes Technology India:

-Overweight call, target Rs 2,440 per share
-Q2 earnings’ weak margins led miss
-Strong order book, await clarity on weaker margins
-Revenue, EBITDA, & adjusted profit grew 32%, 13%, & 54% YoY, respectively
-Revenue, EBITDA, & adjusted profit were -9%/-15%/-12% versus estimate
-Gross and EBITDA margins were down 210 bps and down 230 bps YoY
-EBITDA margins were 13.5% (estimate: 14.5%)

Sensex Today | V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services:

The US Fed is most likely to hold rates in this meeting but the message from the Fed chief Powell will be hawkish since the economy is surprisingly resilient with a 4.9 % growth in Q3 GDP. The high bond yields in the US also indicate that the market expects the higher for longer rate regime to continue for some time. Since no surprise is expected from the Fed meeting outcome, the market is unlikely to be impacted. But the high bond yields will weigh on markets and FIIs can be expected to continue selling. The consequent weakness in sectors like financials where the FIIs hold a major segment of their holding will provide buying opportunities for long-term investors.

Stock Market LIVE Updates | Indraprastha Gas Q2 Results:

Net profit jumped 22% at Rs 534.8 crore versus Rs 438 crore and revenue up 1.6% at Rs 3,458 crore versus Rs 3,406 crore, QoQ.

Stock Market LIVE Updates | Maharashtra Seamless Q2 Results:

Net profit rose 55.4% at Rs 250.4 crore against Rs 161 crore and revenue up 8.5% at Rs 1,535 crore versus Rs 1,414 crore, YoY.

Stock Market LIVE Updates | Nilkamal Q2 Earnings:

Net profit up 4.6% at Rs 25 crore against Rs 24 crore and revenue down 4% at Rs 776 crore versus Rs 808 crore, YoY.

Stock Market LIVE Updates | Morgan Stanley View On Jindal Steel & Power:

-Underweight call, target Rs 500 per share
-Q2 highlights include EBITDA miss versus consensus
-Q2 highlights show EBITDA beat versus miss estimate
-EBITDA beat versus our estimate led by higher volumes and lower costs
-EBITDA beat versus our estimate partially offset by lower realisations
-Q2 highlights also includes subsidiaries remain under pressure
-Expect continued margins pressure in Q3FY23 given rise in raw material prices

Sensex Today | Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas:

Indian Rupee depreciated by 3 paise today on weak domestic markets and a strong US Dollar. disappointing macroeconomic data from India and FII outflows further pressurised the Rupee. However, decline in crude oil prices cushioned the downside. India’s manufacturing PMI declined to 55.5 in October versus 57.5 in September and forecast of 57.7. US Dollar gained on disappointing Chinese economic data. Caixin manufacturing PMI contracted to 49.5 in October versus forecast of 50.8. US employment cost index rose by 1.1% in Q3 2023 as compared to 1% in Q2 2023 raising inflation concerns. CB consumer confidence rose to 102.6 in October 2023 vs forecast of 100.5.

We expect Rupee to trade with a slight negative bias on strong Dollar amid geopolitical uncertainty in the Middle East. Weak tone in domestic markets may also weigh on Rupee. However, delayed ground invasion may support riskier currencies at lower levels. Traders may take cues from manufacturing PMI from India and ADP non-farm employment, JOLTS job opening and ISM manufacturing PMI data from US. Investors may remain cautious ahead of FOMC meeting tonight. USDINR spot price is expected to trade in a range of Rs 83 to Rs 83.60.

Stock Market LIVE Updates | Morgan Stanley View On Tata Consumer Products:

-Overweight call, target Rs 933 per share
-Q2 earnings were ahead of our estimates, led by a beat on margins
-Strong growth trend in growth businesses (Sampann, Nourishco) are a positive
-Market share loss in tea and salt a negative

Sensex Today | Market at 3 PM

The Sensex was down 211.53 points or 0.33 percent at 63,663.40, and the Nifty was down 71.40 points or 0.37 percent at 19,008.20. About 1475 shares advanced, 1722 shares declined, and 84 shares unchanged. 

Stock Market LIVE Updates | Morgan Stanley View On UPL:

-Downgrade to equal-weight, target cut to Rs 590 per share from Rs 762 per share
-More positive view on UPL has proved wrong
-Q2 earnings disappointing for the past 3 quarters & outlook continuing to be challenging
-Think market is likely to remain skeptical on revised guidance
-Sceptical as revised guidance appears challenging on growth & debt reduction in H2FY24

Greenpanel Industries Q2 results:

Net profit down 43% at Rs 41 crore versus Rs 72 crore and revenue down 13% at Rs 399 crore versus Rs 457 crore, YoY.

Stock Market LIVE Updates | Relaxo Footwears Q2 results:

Net profit at Rs 44 crore versus Rs 22 crore and revenue up 7% at Rs 715 crore versus Rs 670 crore, YoY.

ALERT | October GST revenue collection up 13% YoY at Rs 1.72 lakh crore

TVS Motor October Auto Sales | Total sales were up 21% at 4.34 lakh units versus 3.60 lakh units, YoY.

Stock Market LIVE Updates | Aptech shares sulk in trade after Q2 profit declines 15% YoY

Stock Market LIVE Updates | Arvind SmartSpaces jumps 4% after Q2 profit surges 79% YoY
Revenue from Operations grew by 44% YoY; Rs 73 crore vs Rs 50 crore last year
Adjusted EBITDA grew by 177% YoY; Rs 20 crore vs Rs 7 crore last year
PAT grew by 79% YoY; Rs 9 crore as against Rs 5 crore last year

Stock Market LIVE Updates | Longview Tea Company hits 5% upper circuit after revenue zooms over four-fold in Q2FY24
Total income at Rs 0.93 crore in Q2FY24 vs Rs 0.1 crore in Q2FY23
Profit for Q2FY24 at Rs 0.3 crore vs Rs 0.2 crore in Q2FY23

Stock Market LIVE Updates | Lumax Industries commences production at new manufacturing facility in Chakan, Pune

Stock Market LIVE Updates | Jubilant Ingrevia shares down 1% after profit declines 32 percent YoY to Rs 52 crore in Q2FY24
Total revenue down 22% YoY to Rs 1,020 crore in Q2FY24 versus Rs 1,034 crore in Q2FY23
Total Ebitda declines 21% YoY to Rs 126 crore in Q2FY24 versus Rs 160 crore in Q2FY23

VST Tillers October Auto Sales | Total sales down 18% at 1,509 units versus 1,842 unit, YoY.

Stock Market LIVE Updates | Nomura On Five-Star Business Finance:

-Buy call, target Rs 885 per share
-Strong Q2 - highest-ever quarterly profit of Rs 200 crore (up 38%/9% YoY/QoQ)
-Profit driving RoA/RoE to 8.6%/17.2% (up 24/64 bps QoQ)
-Strong AUM growth of 44%/9% YoY/QoQ, AP growing the fastest
-10 bps moderation in spreads due to decline in yields

Stock Market LIVE Updates | Safari Industries Q2 results:

Net profit up 53.7% at Rs 39.8 crore versus Rs 26 crore, YoY.

Board approves bonus issue in the ratio of 1:1.

Stock Market LIVE Updates | Jefferies On Max Financial Services:

-Buy call, target Rs 1,040 per share
-Q2FY24, Max Life saw a strong 39% rise in new premium (APE)
-VNB growth was soft at 12% YoY, below estimate
-VNB growth came softer as margins compressed more than 600 bps YoY to 25%
-APE growth was strong across channels (Agency & Banca)
-APE growth led by near-doubling of PAR & protection segments
-Analysis points that margin fall is largely due to investment & commission
-Margin fall is not due to product mix dilution
-ROEV is healthy at 18%

Stock Market LIVE Updates | Thangamayil Jewellery Q2 Results:

Net profit down 48% at Rs 8.4 crore versus Rs 16 crore and revenue up 22% at Rs 993 crore versus Rs 813 crore, YoY.    

Sensex Today | Market at 3 PM

The Sensex was down 194.78 points or 0.30 percent at 63,680.15, and the Nifty was down 62.50 points or 0.33 percent at 19,017.10. About 1491 shares advanced, 1659 shares declined, and 93 shares unchanged. 

Stock Market LIVE Updates | Motilal Oswal Financial Services Q2 Earnings:

Net profit up 4% at Rs 531 crore versus Rs 509 crore and revenue up 24% at Rs 1,639 crore versus Rs 1,321 crore, YoY.

Mamaearth IPO subscribed 30%, retail portion booked 50% on Day 2

Mamaearth’s parent, Honasa Consumer IPO has been subscribed 30% so far on November 1, receiving bids for 87.14 lakh shares against the issue size of 2.89 crore shares. Retail investors bought 50%, high net worth individuals (HNI) bought 6% and qualified institutional buyers (QIB) picked 35% of the allotted quota.

Varun Alagh and Ghazal Alag owned firm has reserved 75 percent of the net issue size for QIBs, 15 percent for HNIs and the remaining 10 percent for retail investors. The price band for the offer, which will close on November 2, has been fixed at Rs 308-324 per share.

Employees, who have Rs 1 crore worth of shares reserved in the IPO, have bought 2.73 times the allotted quota. Employees will get the reserved shares at a discount of Rs 30 per share to the final issue price.

NMDC | October production up 11% at 3.92 million tonnes versus 3.53 million tonnes and sales were up 11% at 3.44 million tonnes versus 3.09 million tonnes, YoY.

Stock Market LIVE Updates | Zee Entertainment Enterprises share price extends gains

Zee Entertainment Enterprises share price extended the gains today after a bench of the National Company Law Appellate Tribunal (NCLAT) on October 31, transferred the appeals filed by Axis Finance and IDBI Bank challenging the National Company Law Tribunal (NCLT) order approving the Zee-Sony merger to the bench of the Chairperson.

The bench had opined that since the Chairperson-led bench was hearing IDBI's insolvency plea against Zee Entertainment Enterprises Limited (ZEEL), it would be appropriate for the same bench to hear these petitions.

In the previous trading session, the share closed up 3.43 percent or Rs 8.60 at Rs 259.05.

Stock Market LIVE Updates | HSBC View On DLF

-Hold call, target raised to Rs 580 per share
-Company demonstrated strong cash flow and balance sheet
-Office business has also shown improved occupancies
-Growth will likely be driven by launches
-Watch DLF’s entry back into Mumbai market with a keen eye

Sensex Today | Nifty FMCG index down 0.5 percent dragged by Dabur India, Nestle India, Britannia Industries:

Atul Auto October Auto Sales | Total sales were up 30.1% at 3,060 units against 2,352 units, YoY.

Sensex Today | BSE Bank index down 0.4 percent dragged by Axis Bank, HDFC Bank, Kotak Mahindra Bank:

Stock Market LIVE Updates | InCred View On Larsen & Toubro

-Add call, target raised to Rs 3,300 per share
-Q2 EBITDA at Rs 5,630 crore up 15% YoY, 9% above estimate
-Profit was at Rs 3,220 crore, up 45% YoY, beating estimate
-Management gave guidance of a strong order pipeline of approximately Rs 8.8 lakh crore
-Order pipeline up 39% YoY, mainly led by a sharp improvement in the hydrocarbons business

Sun Pharma Q2 Earnings:

Net profit up 5% at Rs 2,375.5 crore against Rs 2,262.2 crore, YoY.

Stock Market LIVE Updates | Unichem Laboratories Q2 Results:

Net loss at Rs 24.5 crore versus loss of Rs 71 crore and revenue up 26 percent at Rs 416 crore versus Rs 329 crore, YoY.

Stock Market LIVE Updates | Ajmera Realty Q2 Results:

Net profit down 34 percent at Rs 23 crore versus Rs 34 crore and revenue down 22 percent at Rs 145 crore versus Rs 185 crore, YoY.

Stock Market LIVE Updates | REC Q2 Results:

Net Interest Income (NII) down 3.4% at Rs 3,823.2 crore versus Rs 3,958 crore and net profit up 38.3% at Rs 3,772.87 crore versus Rs 2,728 crore, YoY.

Stock Market LIVE Updates | Hero MotoCorp October Auto Sales | Total sales were up 26.5 percent at 5.74 lakh units versus 4.54 lakh units, YoY.

Maruti Suzuki October Auto Sales | Total sales at 199,217 units versus 167,520 units, YoY.

Domestic sales up 21% at 1.77 lakh units versus 1.47 lakh units and exports were up 7% at 21,951 units versus 20,448 units, YoY.

Eicher Motors October Auto Sales | Total CV sales up 24% at 7,486 units versus 6,038 units, YoY.

Stock Market LIVE Updates | Ambuja Cements Q2 net profit at Rs 644 crore versus Rs 137 crore and revenue up 8 percent at Rs 3,969.8 crore against Rs 3,670.4 crore, YoY.

Tata Motors October Auto Sales | Total sales up 5.9% at 82,954 units versus 78,335 units, YoY.

Stock Market LIVE Updates | Morgan Stanley View On Samvardhana Motherson International

-Equal-weight call, target Rs 91 per share
-Company owns 33.4% of Motherson Sumi Wiring, which is listed separately
-Motherson Sumi Wiring has USD 3.2 billion market cap and is focused on the Indian wiring harness business
-Motherson Sumi Wiring accounted for around 10% of Samvardhana’s FY23 earnings
-Motherson Sumi Wiring's Q3FY24 earnings were largely in-line

Stock Market LIVE Updates | Cera Sanitaryware Q2 Earnings:

Net profit up 12.4% at Rs 57 crore versus Rs 51 crore and revenue up 11.5% at Rs 463.7 crore versus Rs 415.9 crore, YoY.

Sensex Today | BSE Power index down 0.4 percent dragged by Adani Energy, CG Power, JSW Energy:

Stock Market LIVE Updates | Nomura View On Birlasoft

-Buy call, target Rs 630 per share
-Q2 revenue & margin ahead of estimate
-Strong deal wins momentum improves medium-term visibility
-Margin expansion continues under new unified organisational structure
-Raise FY24-26 EPS by 2-3%
-New CEO’s strategy working

Stock Market LIVE Updates | Camlin Fine Sciences extends temporarily closure of Diphenol Plant at Italy

Camlin Fine Sciences has informed that the temporarily closure of Diphenol Plant of our wholly owned subsidiary, CFS Europe SPA situated in Ravenna, Italy shall be extended on account of continuing difficult macro‐economic situation in Europe coupled with low pricing and weak demand across the industry. Such closure shall continue until the situation improves for the resumption of the operation of the plant.

Stock Market LIVE Updates | Nifty Metal index down 0.7 percent dragged by Jindal Steel, APL Apollo, Coal India

Stock Market LIVE Updates | Adani Wilmar Q2 Results:

Net loss at Rs 131 crore (including one-time loss of Rs 53.5 crore) against profit of Rs 48.8 crore and revenue down 13% at Rs 12,267 crore versus Rs 14,150 crore, YoY.

Stock Market LIVE Updates | Jefferies View On Navin Fluorine International

-Hold call, target cut to Rs 3,165 per share from Rs 3,625 per share
-Q2 Revenue/EBITDA declined QoQ & 16%/29% below estimate
-Weakness was broad-based with product deferrals and execution challenges
-Management hinted possibility of raising equity capital to derisk balance sheet & pursue capex
-Cut FY24/25 EBITDA 18%/13% & project 21% EBITDA CAGR over FY23-26

Stock Market LIVE Updates | MapymyIndia trades 4% up after Q2 topline zooms over 19%

Shares of MapmyIndia (CE Infosystems) opened 5.9 percent higher on November 1 after the digital map company reported a 19.4 percent surge in its revenue for the September quarter, but lost some early gains and traded at Rs 2,160, up 3.7 percent, around 10.50am.

The company on October 31 reported a topline of Rs 91.1 crore for the quarter under review, while its net profit grew to Rs 33.1 crore from Rs 25.4 crore a year back. Its earnings before interest, taxes, depreciation and amortisation (EBITDA) jumped 32.5 percent to Rs 40.5 crore and EBITDA margin widened to 44.5 percent from 40.1 percent a year back. Read More

Stock Market LIVE Updates | Saregama India Q2 results:

Net profit up 3% at Rs 48 crore versus Rs 46.6 crore and revenue down 7% at Rs 172 crore versus Rs 185 crore, YoY.

Sensex Today | Nifty Bank index down 0.3 percent dragged by IDFC First Bank, Kotak Mahindra Bank, Axis Bank:

Stock Market LIVE Updates | Navin Fluorine International Q2 earnings miss estimates. Profit rises 4.8% YoY to Rs 60.6 crore

Navin Fluorine International missed analysts' estimates, with consolidated profit rising 4.8% on-year to Rs 60.6 crore for July-September period, impacted by lower EBITDA margin. Revenue from operations for the quarter increased by 12.5% YoY to Rs 471.8 crore.

Sensex Today | Market at 12 PM

The Sensex was down 103.73 points or 0.16 percent at 63,771.20, and the Nifty was down 31.40 points or 0.16 percent at 19,048.20. About 1686 shares advanced, 1371 shares declined, and 97 shares unchanged. 

Stock Market LIVE Updates | Marksans Pharma’s Verna, Goa unit clears German Health authorities inspection

Marksans Pharma's newly acquired manufacturing facility locates at plot no A1, phase 1-A, Verna Industrial Estate, Verna Goa has successfully undergone inspection form German health authorities.

The Authorities have not found any critical/major observations but have few recommendations/ minor points which the Company is committed to implement immediately.

Stock Market LIVE Updates | MRPL Q2 profit rises 3.6% QoQ to Rs 1,051.7 crore, but revenue drops 9%

Mangalore Refinery & Petrochemicals has recorded a 3.6% sequential increase in consolidated profit at Rs 1,051.7 crore for quarter ended September FY24 despite fall in topline, supported by lower input cost. Revenue from operations (excluding excise duty) fell 9.2% QoQ to Rs 19,230 crore for the quarter.

Sensex Today | Prashanth Tapse, Senior VP (Research), Mehta Equities:

Despite weak market mood, Blue Jet Healthcare listing was better than street expectations. We believe the listing premium is justified considering its niche product portfolio. While we continue to advise conservative allotted investors to look to book decent profits on listing day while those who wish to buy more should wait and watch the market to settle considering decent long term industry rationales.

Earnings Today:

Stock Market LIVE Updates | India Cements Q2 Earnings:

Standalone net loss at Rs 81.4 crore versus loss of Rs 137.6 crore and revenue down 2.6% at Rs 1,222.1 crore versus Rs 1,254.6 crore, YoY.