Indian benchmark indices snapped a seven-day winning streak to ended lower on October 25. At close, the Sensex was down 287.70 points or 0.48% at 59,543.96 and the Nifty was down 74.50 points or 0.42% at 17,656.30.
2/11
Vodafone Idea | CMP: Rs 8.60 | The stock was down 1.2 percent after the company's board on October 21 approved a plan to sell Rs 1,600 crore worth of convertible bonds to ATC Telecom Infrastructure. The funds will be used to pay some of the pending dues to the tower operator.
3/11
MCX | CMP: Rs 1,488.65 | The stock gained almost 9 percent after the company reported a stellar September quarter, attracting investors. The company said its net profit increased by 94 percent YoY to Rs 63.27 crore. Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the quarter increased by 68 percent to Rs 83.84 crore.
4/11
Nykaa | CMP: Rs 1,100 | Share price of FSN E-Commerce Ventures, the parent of Nykaa, fell 2.9 percent to drop below its initial public offering price of Rs 1,125. Pre-IPO investors' lock-in expires on November 10. JM Financial is of the view that around 67 percent or 31.9 crore shares are likely to open for trade on the expiry day.
RIL | CMP: Rs 2441.80 | The share price of oil-to-telecom major Reliance Industries dropped 1.5 percent. On October 21, the company reported a marginal drop in consolidated net profit at Rs 13,656 crore for the quarter ended September 30, 2022 as against Rs 13,680 crore in the year-ago quarter. HSBC has a "hold" call on the stock, with the target cut to Rs 2,500. "We cut refining margin assumptions, resulting in FY23-25 estimate declining 3-7 percent," the brokerage noted. (Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
6/11
JSW Steel | CMP: Rs 644.30 | The stock gained 2.3 percent despite the company posting a loss of Rs 915 crore in Q2FY23. The company expects to stick to its volume guidance of 24-25 million tonnes for the financial year due to increased domestic market share. The management also expects net debt to be brought down by Rs 5,000 crore in the next two quarters.
7/11
IGL | CMP: Rs 405.55 | Indraprastha Gas gained 5.7 percent after the company said that Sukhmal Kumar Jain has been appointed the company's chairman and additional director. It also announced "the cessation" of Arun Kumar Singh as the chairman and director. In Q2FY23, the company’s revenue almost doubled to Rs 3,922 crore as against Rs 2,015 crore in the year-ago period.
8/11
HUL | CMP: Rs 2504 | The company's Q2FY23 EBITDA rose by 7.8 percent to Rs 3,377 crore but margins fell by 170 bps YoY from 24.6 percent to 22.9 percent. Underlying volume growth of 4 percent was also below Street expectations. Experts had pegged volume growth at 5 percent. The stock slumped 2.7 percent.
United Spirits | CMP: Rs 862.5 | The share gained 3.24 percent after the company said its profit grew by 106 percent YoY to Rs 563 crore in the quarter ended September FY23 led by a one-time gain of Rs 381 crore from the slump sale of business undertaking associated with 32 brands in 'Popular' segment. Revenue at Rs 2,879.7 crore grew by 17.6 percent YoY.
10/11
Tejas Networks | CMP: Rs 675 | The stock slumped 2.4 percent as the company's Q2FY23 net profit tanked 71 percent to Rs 1.1 crore, hit by weak margin performance and higher tax cost. In the same quarter last year, net profit stood at Rs 3.66 crore.
11/11
Meghmani Organics | CMP: Rs 111.25 | The company on October 23 reported a fire at a finished goods warehouse of pigment plant in Dahej. Expected quantum of loss and damage caused is under assessment, it said. The stock declined more than 2 percent.
![Hindustan Unilever | CMP: Rs 2682.05 | The stock added 6 percent last week. FMCG companies betting big on the festival season by ramping up supply chains, investing in marketing campaigns and lining up new packs. Managements are also expecting rural demand to make a robust comeback. A recent report by Bizom says India’s FMCG market increased 6 percent in value in August compared to July, reversing the past three months of consecutive decline. Global brokerage firm Nomura expects HUL’s volumes to grow by 4-5 percent in Q2FY23. They have a "buy" rating on the stock with a target price of Rs 2,975. “We expect the company to benefit from demand uncoiling in out-of-home categories. And, benefits of softening input cost will drive meaningful margin improvement from Q3,” it said. Macquarie has an "outperform" rating with a target of Rs 3,000. "Our channel checks suggest steady demand. The demand strength should sustain volume growth momentum. Downside risks to margins are limited," its analysts said in a note.](https://images.moneycontrol.com/static-mcnews/2022/01/hindustan-unilever.jpg "Hindustan Unilever | CMP: Rs 2682.05 | The stock added 6 percent last week. FMCG companies betting big on the festival season by ramping up supply chains, investing in marketing campaigns and lining up new packs. Managements are also expecting rural demand to make a robust comeback. A recent report by Bizom says India’s FMCG market increased 6 percent in value in August compared to July, reversing the past three months of consecutive decline. Global brokerage firm Nomura expects HUL’s volumes to grow by 4-5 percent in Q2FY23. They have a "buy" rating on the stock with a target price of Rs 2,975. “We expect the company to benefit from demand uncoiling in out-of-home categories. And, benefits of softening input cost will drive meaningful margin improvement from Q3,” it said. Macquarie has an "outperform" rating with a target of Rs 3,000. "Our channel checks suggest steady demand. The demand strength should sustain volume growth momentum. Downside risks to margins are limited," its analysts said in a note.")
