Closing Bell: Nifty below 25,600, Sensex falls 519 pts; IT, metal top drag

Indian market ended lower on November 4 with Nifty below 25,700 amid selling across the sectors. At close, the Sensex was down 519.34 points or 0.62 percent at 83,459.15, and the Nifty was down 165.70 points or 0.64 percent at 25,597.65.

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

The Nifty slipped further after a brief pause on Monday, moving towards the support zone of 25,525. The index found initial support near the 21EMA. The RSI indicates weak price momentum with a bearish crossover.

If the index falls below 25,590, the correction may extend towards 25,500–25,525. On the other hand, resistance is placed at 25,700, above which the index could regain strength.

Markets extended their losing streak, with Nifty slipping 0.64% on the weekly expiry day. The index has now ended in the red in three of the last four sessions amid persistent profit booking in frontline stocks.

Nifty opened weak and continued to drift lower throughout the day, forming a bearish candle on the daily chart and closing below its 20-EMA at the day’s low. The daily RSI also cooled off sharply from a recent swing high of 72.43 to 52.76, reflecting waning momentum.

Among stocks, Titan and Bharti Airtel were the top gainers, while Power Grid and NTPC were among the notable laggards.

On the sectoral front, the mood remained bearish across the board, with all indices ending in the red — Nifty Metal and Nifty IT leading the decline.

In the broader markets, profit booking emerged after the Nifty Midcap 100 hit a fresh 52-week high in the previous session. Both Nifty Midcap 100 and Nifty Smallcap 100 fell by 0.42% and 0.82%, respectively. Market breadth remained weak, with only 143 of the Nifty 500 constituents closing higher.

Nifty View

The 25,480–25,440 zone is expected to act as a crucial support, followed by 25,310. On the upside, resistance is seen at 25,820–25,840, and a sustained move above 25,840 could drive the index toward 25,960.

Bank Nifty View

Bank Nifty continued to outperform, remaining range-bound on the daily chart amid buying interest in PSU banking names.

Going forward, the 57,450–57,400 zone is likely to act as strong support, while resistance is placed around 58,250–58,350. A breakout above 58,350 could pave the way for a move toward 58,800 in the near term.

After showing minor bounce amidst range bound movement on Monday, Nifty slipped into sharp weakness on Tuesday and closed the day lower by 165 points. After opening on a weak note, the market continued to slide down for better part of the session. Intraday upside recoveries have been used as sell on rise opportunity and Nifty finally closed at the lows.

A long bear candle was formed after a small bullish candle of Monday which indicates sharp profit booking in the market. The larger degree bullish pattern like higher tops and bottoms is intact and Nifty is now sliding down to form a new higher bottom of the pattern. But the higher bottom reversal needs to be confirmed.

The underlying short-term trend of the market continues is weak but the medium term remains bullish. Nifty is expected to slide down to the crucial role reversal support of 25500-25400 levels in the near term before bouncing back from the lows. Hence, one may look for buy on dips opportunity. Immediate resistance is placed at 25800.

The NSE’s decision to introduce a pre-open session for the F&O segment from December 8 marks a meaningful development aimed at improving price discovery and liquidity in the derivatives market. This change comes at a time when futures and options positioning has gained momentum, with traders actively monitoring upcoming macroeconomic data releases and the next phase of corporate earnings.

The new pre-open window is likely to offer a clearer view of early market sentiment, helping participants gauge the opening trend more efficiently. It may also play a role in reducing the initial volatility that often accompanies the opening bell, particularly on days influenced by overnight global movements. Additionally, this mechanism enables institutional and proprietary desks to better synchronize pricing between spot and derivatives segments before regular trading begins.

In the broader market, sentiment remained soft today, with midcap and small-cap indices down by 0.27% and 0.55% respectively. Sectorally, metals and IT witnessed notable pressure, whereas consumer durables emerged as the only gainer. Despite near-term consolidation, we expect PSU banks, metal counters, and consumption-focused stocks to continue to show resilience driven by supportive fundamentals and positioning trends.

In the derivatives space, the overall tone appears sideways to slightly weak, with the Put-Call Ratio (PCR) near 0.65, suggesting a mild bearish bias even as key indices hold above their 21-day EMA.

Markets edged lower on the weekly expiry day, with the Nifty 50 slipping 0.7% to close at 25,600. After a flat start, the index faced sustained selling pressure and gradually drifted lower through the session, eventually settling near the day’s low. Sectorally, all major indices ended in the red, with metals and IT among the top laggards. The broader markets also witnessed pressure, declining in the range of 0.46% to 0.8%, reflecting a broad risk-off sentiment.

Profit-taking across heavyweight sectors dampened overall mood, while risk appetite remained subdued amid weak global cues. Additionally, inconsistent foreign institutional investor (FII) flows further added to the cautious tone.

Technically, the Nifty retested its 20-day EMA, and a sustained move below this level could weaken the positive bias, potentially extending the corrective phase toward 25,400. On the upside, 25,800 is likely to act as an immediate hurdle. Traders are advised to align positions accordingly and maintain a strong focus on risk management until a clear directional trend emerges.

Today, Indian equities fell sharply with the Nifty closing below 25,600 and the Sensex slipping nearly 519 points. The decline was broad-based, affecting most sectors, as weak global cues and continuous profit-booking weighed on market sentiment. Among the top losers were Power Grid Corp, Eternal, Tata Motors Passenger Vehicles, Bajaj Auto, Tech Mahindra, and several metal companies. On the other hand, Titan, Bajaj Finance, and Bharti Airtel managed to post modest gains.

Sector-wise, metals, IT, and auto stocks saw the most significant declines, each falling between 1 – 1.5%. Overall, investors were cautious amid ongoing FII outflows and uncertainty in global markets, prompting widespread profit-booking. Metals fell on weak demand outlooks and slower Chinese industrial activity, while IT stocks slipped after muted Q2 earnings. In contrast, defensive sectors such as consumer durables and telecom performed better, benefiting from the risk-off sentiment.

Looking ahead, volatility is expected to persist as global developments and institutional flows continue to drive market direction. With key domestic earnings due later this week and a shorter trading window because of the Guru Nanak Jayanti holiday, market liquidity could remain uneven, leading to sharp intraday moves.

Today, the benchmark indices witnessed selling pressure. The Nifty ended 166 points lower, while the Sensex was down by 519 points. Among sectors, almost all the major sectoral indices registered selling pressure, but the Defence, Capital Market and Metal indices shed nearly 1.50 percent. Technically, on intraday charts, the market is holding a lower top formation, and on daily charts, it has formed a bearish candle, which indicates further weakness from the current levels.

We are of the view that, as long as the market is trading below 25,700/83750, weak sentiment is likely to continue. On the downside, the market could slip to 25,550/83300. Further weakness may also persist, which could drag the market to 25,450–25,400/83000-82800. On the flip side, above 25,700/83750, the market is likely to bounce back to 25,800/84100 and 25,875/84400.

The current market texture is volatile; hence, level-based trading would be the ideal strategy for day traders.

Rupee started the session on a strong note, opening near 88.40 with gains of about 0.30, likely supported by intervention. However, the initial optimism faded as the session progressed, with the rupee losing ground to close near 88.63 amid renewed selling pressure. Persistent FII outflows and cautious market sentiment kept the recovery short-lived.

Going forward, rupee movement is expected to remain volatile, with RBI interventions providing support around lower levels, while selling pressure could cap gains. The expected trading range for the rupee is between 88.25–88.90.

#1 Revenue up 1.9% at Rs 2,827 crore vs Rs 2,774 crore, YoY

#2 EBITDA down 19% at Rs 352 crore vs Rs 434 crore, YoY

#3 Margin at 12.4% vs 15.6%, YoY

Indian equity markets ended lower, tracking weak global cues and broad-based selling, particularly across IT, metal, and power sectors. Investor sentiment remained subdued ahead of the holiday-shortened week. FIIs extended their selling streak for the fourth consecutive session, as rising U.S. bond yields and waning expectations of a near-term Fed rate cut curtailed risk appetite.

Nonetheless, India’s macroeconomic fundamentals remain resilient, with strong manufacturing PMI and robust GST collections—despite recent tax reductions—underscoring sustained economic momentum and supporting earnings upgrades in the coming quarters. We expect investors will continue to exercise the buy on dips strategy in expectation of improvement in trend going forward.

Equity benchmarks declined on Tuesday, extending their losing streak amid weak global cues and continued foreign fund outflows. Persistent FII selling weighed on sentiment, with foreign investors offloading Rs 1,884 crore worth of equities on Monday their fourth consecutive day of net outflows. Weakness across Asian markets and a decline in U.S. futures added to the pressure, as investors booked profits following recent tech-led rallies. Note that FIIs continue to sell on rallies due to India’s high valuations and muted near-term earnings growth.

Profit booking in metal, auto, and banking stocks also contributed to the decline, while IT heavyweights TCS and Infosys slipped on weak U.S. economic data and uncertainty around the Fed’s next move. We expect downtrend movement unless the Nifty breaks above 25,927, with support seen near 25,500 and 25,400 levels.

Indian rupee ended higher by 13 paise at 88.65 per dollar on Tuesday versus previous close of 88.78.

Indian market ended lower on November 4 with Nifty below 25,600 amid selling across the sectors.

At close, the Sensex was down 519.34 points or 0.62 percent at 83,459.15, and the Nifty was down 165.70 points or 0.64 percent at 25,597.65. About 1543 shares advanced, 2439 shares declined, and 152 shares unchanged.

Biggest Nifty losers were Power Grid Corp, Coal India, Tata Motors Passenger Vehicles, Bajaj Auto, Eternal, while gainers included Titan Company, Bharti Airtel, Bajaj Finance, HDFC Life, M&M.

Except consumer durable and telecom, all other sectoral indices ended in the red with IT, auto, FMCG, metal, power, realty, PSU indices down 0.5-1%.

BSE midcap index fell 0.2% and smallcap index shed 0.7%.

Asian Energy Services was quoting at Rs 347.25, up Rs 14.75, or 4.44 percent.

It has touched an intraday high of Rs 359.25 and an intraday low of Rs 332.00.

It was trading with volumes of 64,638 shares, compared to its five day average of 2,191 shares, an increase of 2,850.70 percent.

In the previous trading session, the share closed down 0.43 percent or Rs 1.45 at Rs 332.50.

The share touched a 52-week high of Rs 418.00 and a 52-week low of Rs 214.85 on 06 January, 2025 and 17 March, 2025, respectively.

Currently, the stock is trading 16.93 percent below its 52-week high and 61.62 percent above its 52-week low.

Market capitalisation stands at Rs 1,554.79 crore.

#1 Ambuja’s Q2 consolidated EBITDA came in ahead of estimates, driven by strong profitability

#2 Company reiterated its cost-reduction target, aiming for Rs 3,650/tonne by FY28

#3 Capacity guidance was raised to 155 mt by FY28, up from 140 mt earlier & 107 mt as of Sep 2025

#4 Sustained execution, consistent profitability & strong cash flow conversion will be key drivers for outperformance

#5 ACC: Hold call, target price at Rs 2,035

#1 Q2FY26 recorded a significant miss

#2 Management guides for a strong recovery in H2FY26

#3 Lower earnings estimates by 11 percent/7 percent/4 percent for FY26/27/28 following Q2 results

#4 Growth in FY27 & beyond will be supported by GLP-1 fill-finish opportunities & new launches

#5 Additional support will come from volume growth at Cenexi & CDMO contracts

#1 Q2FY26 earnings a miss as US & India ops showed negative margin surprises

#2 UK business continues to improve

#3 Supply-demand dynamics remain imbalanced but industry development could trigger improvement

Tata Chemicals was quoting at Rs 892.45, up Rs 17.20, or 1.97 percent.

It has touched an intraday high of Rs 895.00 and an intraday low of Rs 874.20.

It was trading with volumes of 29,711 shares, compared to its five day average of 37,389 shares, a decrease of -20.54 percent.

In the previous trading session, the share closed down 1.74 percent or Rs 15.50 at Rs 875.25.

The share touched a 52-week high of Rs 1,156 and a 52-week low of Rs 756.45 on 06 November, 2024 and 03 March, 2025, respectively.

Currently, the stock is trading 22.8 percent below its 52-week high and 17.98 percent above its 52-week low.

Market capitalisation stands at Rs 22,735.72 crore.

#1 Q2 a beat, adjusted for forex loss, EBITDA margins were in-line with estimates

#2 US grew 48 percent while India was in-line & Asia & Africa were a miss

#3 FY26 guidance points to continued strength in the USA, increased sales growth in Africa

#4 Cut FY27/28 EPS by 3 percent on higher near-term opex

QIB – 0.10 times

NII - 0.43 times

Retail – 1.66 times

Overall – 0.48 times

#1 Earnings outperformance continued

#2 Management expects EBITDA margin at mid-20 percent

#3 Mega capex paves the way for multi-year execution visibility

#4 Healthy margin results in 41 percent beat on earnings estimates

#5 Order inflow outlook remains robust on the back of a strong awarding pipeline

#6 Stock trading at 59x/49x FY27/FY28 EPS

GE Vernova TD India was quoting at Rs 3,138.10, down Rs 34.50, or 1.09 percent.

It has touched an intraday high of Rs 3,219.75 and an intraday low of Rs 3,067.25.

It was trading with volumes of 66,736 shares, compared to its five day average of 40,637 shares, an increase of 64.22 percent.

In the previous trading session, the share closed up 4.40 percent or Rs 133.65 at Rs 3,172.60.

The share touched a 52-week high of Rs 3,323.70 and a 52-week low of Rs 1,252.85 on 03 November, 2025 and 09 April, 2025, respectively.

Currently, the stock is trading 5.58 percent below its 52-week high and 150.48 percent above its 52-week low.

Market capitalisation stands at Rs 80,349.96 crore.

QIB – 19.83 times

NII - 16.05 times

Retail – 6.55 times

Employee Reserved - 4.50 times

Overall – 16.34 times

The Sensex was down 432.12 points or 0.51 percent at 83,546.37, and the Nifty was down 145.20 points or 0.56 percent at 25,618.15. About 1393 shares advanced, 2351 shares declined, and 153 shares unchanged.

Grasim Industries, Sun Pharmaceutical Industries, Britannia Industries, Aurobindo Pharma, Astral, BEML, Black Buck, Blue Star, CMS Info Systems, CSB Bank, Delhivery, International Gemmological Institute India, Medi Assist Healthcare Services, Piramal Pharma, Syngene International, and Tube Investments of India will announce their September quarter results on November 5.

Zydus Lifesciences has received tentative approval from the United States Food and Drug Administration (USFDA) for Budesonide delayed-release capsules, 4 mg.

Budesonide is indicated for mild to moderate active Crohn's disease involving the ileum and/or the ascending colon in adults and children 8 years of age and older. Budesonide capsules will be produced at is Zydus Pharmaceuticals Ltd, SEZ-II.

Adani Enterprises was quoting at Rs 2,446.80, down Rs 22.75, or 0.92 percent.

It has touched an intraday high of Rs 2,488.55 and an intraday low of Rs 2,432.00.

It was trading with volumes of 44,489 shares, compared to its five day average of 43,835 shares, an increase of 1.49 percent.

In the previous trading session, the share closed down 0.48 percent or Rs 11.90 at Rs 2,469.55.

The share touched a 52-week high of Rs 3,069.85 and a 52-week low of Rs 2,026.90 on 06 November, 2024 and 03 March, 2025, respectively.

Currently, the stock is trading 20.3 percent below its 52-week high and 20.72 percent above its 52-week low.

Market capitalisation stands at Rs 282,404.94 crore.

#1 Q2 revenue, EBITDA & PAT ahead of estimates

#2 Consolidated EBITDA margin at 11.5 percent, beat consensus by 64 bps

#3 Standalone EBIT margin in jewellery of 10.8 percent vs estimate of 11.2 percent

#4 Watches ahead of estimate, while EyeCare was below estimates

#5 As per management, start to the quarter was slow, but growth picked up in September

#6 Domestic jewellery business witnessed a strong pickup during Navratri

#7 Tanishq’s gold exchange offer driving sales despite high gold prices

#8 Caratlane top-line growth was strong at over 32 percent

Alembic Pharmaceuticals was quoting at Rs 978.60, up Rs 54.30, or 5.87 percent.

It has touched an intraday high of Rs 986.00 and an intraday low of Rs 927.90.

It was trading with volumes of 22,379 shares, compared to its five day average of 83,860 shares, a decrease of -73.31 percent.

In the previous trading session, the share closed up 3.08 percent or Rs 27.65 at Rs 924.30.

The share touched a 52-week high of Rs 1,152.60 and a 52-week low of Rs 725.60 on 07 November, 2024 and 03 March, 2025, respectively.

Currently, the stock is trading 15.1 percent below its 52-week high and 34.87 percent above its 52-week low.

Market capitalisation stands at Rs 19,235.67 crore.

Gateway Distriparks was quoting at Rs 63.91, down Rs 0.81, or 1.25 percent.

It has touched an intraday high of Rs 65.90 and an intraday low of Rs 63.30.

It was trading with volumes of 38,412 shares, compared to its five day average of 22,540 shares, an increase of 70.42 percent.

In the previous trading session, the share closed up 1.31 percent or Rs 0.84 at Rs 64.72.

The share touched a 52-week high of Rs 92.39 and a 52-week low of Rs 51.56 on 11 December, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 30.83 percent below its 52-week high and 23.95 percent above its 52-week low.

Market capitalisation stands at Rs 3,193.22 crore.

#1 Delivered a broad-based beat in Q2 with strong traction across India operations & Africa

#2 Subscriber premiumisation & better monetisation support a positive growth outlook

#3 FY26-28 estimates raised by 1-4 percent

Castrol India was quoting at Rs 197.10, up Rs 0.90, or 0.46 percent.

It has touched an intraday high of Rs 197.35 and an intraday low of Rs 194.95.

It was trading with volumes of 44,286 shares, compared to its five day average of 91,133 shares, a decrease of -51.40 percent.

In the previous trading session, the share closed up 0.56 percent or Rs 1.10 at Rs 196.20.

The share touched a 52-week high of Rs 252.00 and a 52-week low of Rs 162.80 on 06 March, 2025 and 28 January, 2025, respectively.

Currently, the stock is trading 21.79 percent below its 52-week high and 21.07 percent above its 52-week low.

Market capitalisation stands at Rs 19,495.60 crore.

Indian rupee has erased some of the opening gains but still trading higher at 88.64 per dollar versus previous close of 88.78.

QIB – 0.00 times

NII - 0.34 times

Retail – 1.37 times

Overall – 0.34 times

QIB – 6.58 times

NII - 10.11 times

Retail – 5.63 times

Employee Reserved - 4.05 times

Overall – 7.36 times

#1 Strong Q2, consolidated revenue grew 18 percent YoY with a broad-based performance

#2 India branded business reported 14 percent UVG, translating to 17 percent revenue growth

#3 International business revenue grew 15 percent YoY, unbranded revenue grew 28 percent

#4 Expect strong margin recovery, led by improvement in India business

#5 Expect sequential recovery in non-branded margin

Net profit up 10% at Rs 20,160 crore versus Rs 18,331 crore, YoY

NII up 3.3% at Rs 42,985 crore versus Rs 41,620 crore, YoY

Provision at Rs 5,400 crore versus Rs 4,757 crore, QoQ versus Rs 4,506 crore, YoY

State Bank of India was quoting at Rs 946.15, down Rs 4.10, or 0.43 percent.

It has touched an intraday high of Rs 952.60 and an intraday low of Rs 941.35.

It was trading with volumes of 381,886 shares, compared to its five day average of 909,301 shares, a decrease of -58.00 percent.

In the previous trading session, the share closed up 1.41 percent or Rs 13.25 at Rs 950.25.

The share touched a 52-week high of Rs 953.15 and a 52-week low of Rs 679.65 on 03 November, 2025 and 03 March, 2025, respectively.

Currently, the stock is trading 0.73 percent below its 52-week high and 39.21 percent above its 52-week low.

Market capitalisation stands at Rs 873,354.88 crore.

#1 YoY increase in loss ratio was lower in H1 vs Q1 as retail LR normalised

#2 GST exemption has spurred new demand & better upsell

#3 Stock could perform well in the near term

Mahindra and Mahindra was quoting at Rs 3,578.00, up Rs 29.45, or 0.83 percent.

It has touched an intraday high of Rs 3,581.90 and an intraday low of Rs 3,537.65.

It was trading with volumes of 17,791 shares, compared to its five day average of 102,660 shares, a decrease of -82.67 percent.

In the previous trading session, the share closed up 1.78 percent or Rs 62.20 at Rs 3,548.55.

The share touched a 52-week high of Rs 3,723.00 and a 52-week low of Rs 2,360.45 on 09 September, 2025 and 07 April, 2025, respectively.

Currently, the stock is trading 3.89 percent below its 52-week high and 51.58 percent above its 52-week low.

Market capitalisation stands at Rs 444,934.62 crore.

#1 Net loss at Rs 3 crore vs profit of Rs 0.6 crore, YoY

#2 Revenue up 8.5% at Rs 156 crore vs Rs 143.4 crore, YoY

#3 EBITDA down 7.3% at Rs 20.4 crore vs Rs 22 crore, YoY

#4 Margin at 13.1% vs 15.3%, YoY

#1 Net profit down 10.8% at Rs 52 crore vs Rs 58.3 crore, YoY

#2 Revenue down 20.6% at Rs 165.4 crore vs Rs 208.2 crore, YoY

#3 EBITDA down 21% at Rs 55 crore vs Rs 69.4 crore, YoY

#4 Margin at 33.1% vs 33.3%, YoY

#1 Net profit down 4.3% at Rs 38.3 crore vs Rs 40 crore, YoY

#2 Revenue up 28% at Rs 1,055.4 crore vs Rs 825.4 crore, YoY

#3 EBITDA up 20.2% at Rs 76.7 crore vs Rs 63.8 crore, YoY

#4 Margin at 7.3% versus 7.7%, YoY

Adani Ports and Special Economic Zone was quoting at Rs 1,452.00, up Rs 7.35, or 0.51 percent.

It has touched an intraday high of Rs 1,456.70 and an intraday low of Rs 1,439.00.

It was trading with volumes of 27,763 shares, compared to its five day average of 73,836 shares, a decrease of -62.40 percent.

In the previous trading session, the share closed down 0.47 percent or Rs 6.80 at Rs 1,444.65.

The share touched a 52-week high of Rs 1,493.85 and a 52-week low of Rs 993.85 on 10 June, 2025 and 21 November, 2024, respectively.

Currently, the stock is trading 2.8 percent below its 52-week high and 46.1 percent above its 52-week low.

Market capitalisation stands at Rs 313,652.17 crore.

Allcargo Terminals was quoting at Rs 34.26, up Rs 0.39, or 1.15 percent.

It has touched an intraday high of Rs 35 and an intraday low of Rs 33.56.

It was trading with volumes of 15,513 shares, compared to its five day average of 59,572 shares, a decrease of -73.96 percent.

In the previous trading session, the share closed down 0.32 percent or Rs 0.11 at Rs 33.87.

The share touched a 52-week high of Rs 42.97 and a 52-week low of Rs 19.61 on 17 December, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 20.27 percent below its 52-week high and 74.71 percent above its 52-week low.

Market capitalisation stands at Rs 863.56 crore.

#1 Q2FY26 headline beat driven by tax write-backs, underlying cost reduction positive

#2 FY28 capacity target increased to 155 mt from 140 mt with 15 mt Brownfield additions

Ambuja Cements was quoting at Rs 570.75, down Rs 6.60, or 1.14 percent.

It has touched an intraday high of Rs 588.55 and an intraday low of Rs 569.25.

It was trading with volumes of 178,015 shares, compared to its five day average of 140,936 shares, an increase of 26.31 percent.

In the previous trading session, the share closed up 2.14 percent or Rs 12.10 at Rs 577.35.

The share touched a 52-week high of Rs 625 and a 52-week low of Rs 452.90 on 22 July, 2025 and 21 November, 2024, respectively.

Currently, the stock is trading 8.68 percent below its 52-week high and 26.02 percent above its 52-week low.

Market capitalisation stands at Rs 140,582.77 crore.

#1 Revenues in-line with a marginal beat in operating EBITDA in Q2FY26

#2 Traction in private label will have a positive impact on gross margin

#3 Store expansion plans are on track, overhead expenses have risen at a faster clip

The Sensex was down 277.52 points or 0.33 percent at 83,700.97, and the Nifty was down 92.05 points or 0.36 percent at 25,671.30. About 1511 shares advanced, 2151 shares declined, and 155 shares unchanged.

At the upper price band, the stock is trading at a P/E of 33.8x FY25 EPS and 40.8x 1QFY26 annualised EPS. Billionbrains Garage Ventures Ltd. stands out as a strong player in India’s digital investing ecosystem.

Its platform reach, product diversification and large user base offer a clear competitive edge. The Revenue/PAT has grown at a CAGR of 85%/100% over FY23-25.

The broking industry is expected to grow at a CAGR of 14-16% over the period of FY25-30P. We believe the company’s leadership in retail broking as well as its wealth tech ecosystem, is expected to benefit from sector tailwind. We recommend investors to Subscribe to the issue at the cut-off price.

QIB – 0.00 times

NII - 0.27 times

Retail – 1.15 times

Overall – 0.28 times

At the upper price band, the stock is trading at EV/Sales, EV/EBITDA and EV/Adj EBITDA multiple of 8.0x, 82.8x and 50.7x,

respectively, based on post-issue capital.

Pine Labs is a Fintech company operating through a network of 9.8 lakh merchants, 716 consumer brands & enterprises and 177 financial institutions in India, Malaysia, Singapore, UAE, Australia, USA and Africa as of Jun’25.

The company has built long-lasting relationships with marquee clientslike HDFC Bank, Croma, LG Electronics, etc and is ready to capitalize on the ~Rs 276 trillion market opportunity by FY29P. Between FY23-FY25, it has delivered a healthy Revenue/EBITDA CAGR of 19.3%/538.6% respectively.

Furthermore, the company plans to repay debt of Rs 532 crore through the proceeds from the IPO. The company's operations have witnessed a turnaround with robust growth in EBITDA and adj EBITDA during the FY23-FY25 period.

On the back of a robust business model, going forward, we believe the company is well placed to deliver profitable growth and hence, we recommend investors to subscribe to the issue with long-term investment horizon.

QIB – 4.45 times

NII - 7.73 times

Retail – 5.13 times

Employee Reserved - 3.77 times

Overall – 5.46 times

Blue Cloud Softech Solutions has announced the signing of a Technology Ownership Transfer (ToT) Agreement has potentially valued at approximately USD 150 million with an Israel-based technology company to co-develop edgeAI chips — advanced semiconductor systems designed to power the next generation of AIoT (Artificial Intelligence of Things) and industrial automation applications.

Gland Pharma was quoting at Rs 1,915.15, down Rs 57, or 2.89 percent.

It has touched an intraday high of Rs 1,974.10 and an intraday low of Rs 1,890.45.

It was trading with volumes of 22,540 shares, compared to its five day average of 12,382 shares, an increase of 82.03 percent.

In the previous trading session, the share closed up 2.21 percent or Rs 42.65 at Rs 1,972.15.

The share touched a 52-week high of Rs 2,130 and a 52-week low of Rs 1,200 on 29 July, 2025 and 07 April, 2025, respectively.

Currently, the stock is trading 10.09 percent below its 52-week high and 59.6 percent above its 52-week low.

Market capitalisation stands at Rs 31,553.33 crore.

Swiggy was quoting at Rs 413.90, up Rs 11.35, or 2.82 percent.

It has touched an intraday high of Rs 415.40 and an intraday low of Rs 402.30.

In the previous trading session, the share closed down 1.83 percent or Rs 7.50 at Rs 402.55.

The share touched a 52-week high of Rs 617.00 and a 52-week low of Rs 297.00 on 23 December, 2024 and 13 May, 2025, respectively.

Currently, the stock is trading 32.92 percent below its 52-week high and 39.36 percent above its 52-week low.

Market capitalisation stands at Rs 103,212.04 crore.

#1 Profit grows 15.2 percent to Rs 328.6 crore Vs Rs 285.2 crore, YoY

#2 Net interest income jumps 14.4 percent to Rs 666.5 crore Vs Rs 582.5 crore, YoY

#3 Provisions & contingencies decline 18.6 percent to Rs 57 crore Vs Rs 70 crore, YoY

#4 Gross NPA falls to 2.42 percent Vs 2.99 percent, QoQ

#5 Net NPA dips to 0.9 percent Vs 1.2 percent, QoQ

#1 Profit zooms 5-fold to Rs 264.4 crore Vs Rs 52.3 crore, YoY

#2 Revenue grows 18 percent to Rs 1,832.6 crore Vs Rs 1,553.7 crore, YoY

The company will invest Rs 100 crore in its subsidiary, Redstart Labs (India). Redstart Labs is an internet company with direct and indirect investments in technology companies.

#1 In Q2 sales were strong, largely in–line with pre-quarter update

#2 Margin was a bit lower YoY but strong festive demand could drive an improving outlook

#3 Jewellery sales in-line, margin a bit lower

#4 Watches sales growth of 13 percent YoY was slightly better than pre-quarterly update of 12 percent YoY

#5 EyeCare sales growth of 8.5 percent YoY was in-line with the pre-quarter update

#6 Emerging businesses sales growth of 34 percent YoY

#7 TEAL segment reported sales growth of 112 percent YoY

#1 Q2FY26 results above estimates, with a positive surprise led by its Africa & India operations

#2 India mobile revenue & EBITDA were up 3-4 percent QoQ & 13-20 percent YoY

#3 Bharti added 5 mn QoQ & 22 mn YoY 4G/5G data subscribers

#4 ARPU rose 10 percent YoY to Rs 256, 21 percent above Reliance Jio

#5 H1FY26 free cash flow was Rs 31,900 crore after leases & capex of Rs 19,700 crore, low gearing at 1.2x

The Board will meet on November 6 to consider a proposal for raising funds of up to Rs 5,000 crore through qualified institutions placement(s), rights issue, preferential allotment, or private placement(s).

The Sensex was down 258.11 points or 0.31 percent at 83,720.38, and the Nifty was down 93.15 points or 0.36 percent at 25,670.20. About 1467 shares advanced, 2119 shares declined, and 169 shares unchanged.

QIB – 0.00 times

NII - 0.20 times

Retail – 0.89 times

Overall – 0.22 times

QIB – 1.99 times

NII - 5.73 times

Retail – 4.65 times

Employee Reserved - 3.45 times

Overall – 3.49 times

One Mobikwik Systems was quoting at Rs 256.15, down Rs 8.30, or 3.14 percent.

It has touched an intraday high of Rs 265.20 and an intraday low of Rs 249.25.

In the previous trading session, the share closed up 1.03 percent or Rs 2.70 at Rs 264.45.

The share touched a 52-week high of Rs 698.30 and a 52-week low of Rs 218.85 on 26 December, 2024 and 29 August, 2025, respectively.

Currently, the stock is trading 63.32 percent below its 52-week high and 17.04 percent above its 52-week low.

Market capitalisation stands at Rs 2,014.84 crore.

The consortium of L&T and Bharat Electronics Ltd (BEL), which is pursuing India’s 5th Generation Fighter Aircraft (AMCA), is pleased to announce the onboarding of Dynamatic Technologies Ltd (DTL), as an exclusive partner for the programme.

The Board has approved the appointment of Raktimanu Das as the Chief Executive Officer of the company, effective November 4.

Zee Media Corporation was quoting at Rs 10.07, up Rs 0.04, or 0.40 percent.

It has touched an intraday high of Rs 10.10 and an intraday low of Rs 9.96.

It was trading with volumes of 26,799 shares, compared to its five day average of 231,946 shares, a decrease of -88.45 percent.

In the previous trading session, the share closed up 0.20 percent or Rs 0.02 at Rs 10.03.

The share touched a 52-week high of Rs 22.48 and a 52-week low of Rs 9.46 on 05 December, 2024 and 31 October, 2025, respectively.

Currently, the stock is trading 55.2 percent below its 52-week high and 6.45 percent above its 52-week low.

Market capitalisation stands at Rs 629.81 crore.

#1 Total sales decline 6.4 percent to 6.35 lakh units Vs 6.79 lakh units, YoY

#2 Domestic sales drop 8 percent to 6.04 lakh units Vs 6.57 lakh units, YoY

#3 Exports surge 42.8 percent to 30,979 units Vs 21,688 units, YoY

BlackRock acquired an additional 38.75 lakh shares in the company through open market transactions on October 31, increasing its stake to 5.33 percent from 4.86 percent.

SC Allowed Withdrawal Of I-T Dept Case Against Vi, Formal Order Expected Today

I-T Dept Moved SC To Withdraw Rs 8,500 Cr Transfer Pricing Case Against Vodafone Idea

Suzlon Energy was quoting at Rs 59.49, up Rs 0.25, or 0.42 percent.

It has touched an intraday high of Rs 60.35 and an intraday low of Rs 58.83.

It was trading with volumes of 9,516,045 shares, compared to its five day average of 12,881,147 shares, a decrease of -26.12 percent.

In the previous trading session, the share closed down 0.15 percent or Rs 0.09 at Rs 59.24.

The share touched a 52-week high of Rs 74.30 and a 52-week low of Rs 46.00 on 30 May, 2025 and 07 April, 2025, respectively.

Currently, the stock is trading 19.93 percent below its 52-week high and 29.33 percent above its 52-week low.

Market capitalisation stands at Rs 81,559.69 crore.

#1 Profit jumps 12.4 percent to Rs 67.5 crore Vs Rs 60 crore, YoY

#2 Revenue soars 25.9 percent to Rs 567.5 crore Vs Rs 450.7 crore, YoY

The Sensex was down 103.77 points or 0.12 percent at 83,874.72, and the Nifty was down 45.95 points or 0.18 percent at 25,717.40. About 1573 shares advanced, 1902 shares declined, and 157 shares unchanged.

#1 Profit zooms 5-fold to Rs 264.4 crore Vs Rs 52.3 crore, YoY

#2 Revenue grows 18 percent to Rs 1,832.6 crore Vs Rs 1,553.7 crore, YoY

#1 Profit increases 12.3 percent to Rs 183.7 crore Vs Rs 163.5 crore, YoY

#2 Revenue rises 5.8 percent to Rs 1,486.9 crore Vs Rs 1,405.8 crore, YoY

Gland Pharma was quoting at Rs 1,900, down Rs 72.15, or 3.66 percent.

It has touched an intraday high of Rs 1,974.10 and an intraday low of Rs 1,890.45.

It was trading with volumes of 20,097 shares, compared to its five day average of 12,382 shares, an increase of 62.30 percent.

In the previous trading session, the share closed up 2.21 percent or Rs 42.65 at Rs 1,972.15.

The share touched a 52-week high of Rs 2,130.00 and a 52-week low of Rs 1,200.00 on 29 July, 2025 and 07 April, 2025, respectively.

Currently, the stock is trading 10.8 percent below its 52-week high and 58.33 percent above its 52-week low.

Market capitalisation stands at Rs 31,303.72 crore.

#1 Profit drops 25.8 percent to Rs 71 crore Vs Rs 95.7 crore, YoY

#2 Revenue falls 0.8 percent to Rs 1,027.7 crore Vs Rs 1,035.8 crore, YoY

Kirloskar Brothers was quoting at Rs 1,880.05, down Rs 10.45, or 0.55 percent.

It has touched an intraday high of Rs 1,893.80 and an intraday low of Rs 1,841.40.

It was trading with volumes of 2,507 shares, compared to its five day average of 3,135 shares, a decrease of -20.02 percent.

In the previous trading session, the share closed up 0.97 percent or Rs 18.10 at Rs 1,890.50.

The share touched a 52-week high of Rs 2,475.55 and a 52-week low of Rs 1,424.05 on 27 June, 2025 and 04 March, 2025, respectively.

Currently, the stock is trading 24.06 percent below its 52-week high and 32.02 percent above its 52-week low.

Market capitalisation stands at Rs 14,929.28 crore.

QIB – 0.00 times

NII - 0.09 times

Retail – 0.41 times

Overall – 0.10 times

QIB – 1.64 times

NII - 3.25 times

Retail – 3.99 times

Employee Reserved - 3.04 times

Overall – 2.51 times

ICICI Bank continues to deliver steady performance, managing its margins better than larger peers. Analysts see improving credit growth momentum driven by sustained traction in retail and business banking segments. Brokerage firms noted that during the last quarter, bank’s asset quality continues to remain healthy in the corporate book, and the bank has seen improvement in the retail portfolio asset quality across segments.

In Q2, retail banking grew 7% YoY and 3% sequentially, while the business banking vertical posted 25% YoY and 7% QoQ growth. The management remained optimistic about sustaining healthy growth, supported by continued investments in the distribution network and business expansion.

Axis Direct has maintained its ‘Buy’ rating on the stock with a target price of ₹1,650 per share, expecting ICICI Bank to deliver ~15% CAGR deposit growth over FY26–28. The brokerage also noted that the bank has managed NIM compression well, limiting the impact of repo rate cuts to just 4 basis points in Q2.