Indian benchmark indices ended in the red on October 1. At close, the Sensex was down 33.49 points or 0.04 percent at 84,266.29, and the Nifty was down 1.50 points or 0.01 percent at 25,809.30. About 2,212 shares advanced, 1,585 declined, and 90 were unchanged.
2/11
Paytm | CMP: Rs 728| The stock surged 5.7 percent as Dolat Capital maintained a buy rating and increased the target price by 30 percent to Rs 920 a share from the previous close. The brokerage believes Paytm is on track to achieve adjusted EBITDA breakeven by Q4FY25 (excluding UPI incentives), with positive cash flow expected. The business is resilient and positioned for strong growth.
3/11
Vipul Organics | CMP: Rs 312.90 | Shares of the company surged 20 percent to a fresh lifetime high in trade after its board announced a rights issue. The issue offers investors one share for every three held as of record date at Rs 54 per share. The record date for the rights issue is expected to be announced later, said the company.
4/11
National Aluminium Company | CMP: Rs 224 | The stock surged 6.5 percent to hit a record high of Rs 218.72 after Kotak Institutional Equities upgraded its rating on the stock to 'add', citing an attractive risk-reward. Alongside the rating upgrade, KIE also raised its price target for the stock by a whopping 58 percent to Rs 235, suggesting a 12 percent upside potential.
PB Fintech | CMP: Rs 1,727.10 | Shares of Policybazaar parent gained 6.6 percent as Jefferies issued a 'buy' call on the stock with a target price of Rs 1,800 per share, following management's clarification regarding a planned investment of $100 million for acquiring a 20-35 percent stake in a new healthcare venture.
6/11
Angel One | CMP: Rs 2,594.90 | The stock soared over 7 percent intraday after the discount broking firm revised brokerage charges for cash and equity delivery transactions. Brokerage charges will be levied at a flat Rs 20 or 0.1% + GST, whichever is lower per executed order. The stock ended 1.3 percent higher.
7/11
Muthoot Finance | CMP: Rs 1,951.95 | The stock slipped 4 percent, a day after the Reserve Bank of India directed gold financiers to review processes, identify lapses and take remedial measures within three months, which according to brokerages may weigh on their growth.
8/11
Manappuram Finance | CMP: Rs 197.58| Shares of the gold financier fell 1.8 percent on the RBI directive as well. However, Morgan Stanley said the Manappuram Finance is also better positioned after being regulated for a long period in the past.
Asian Paints | CMP: Rs 3,275| Shares fell 1.6 percent in trade after a Macquarie Equity Research report highlighted weak demand trends for paints and adhesives in the second quarter. Other paint stocks fell as well, such as Berger Paints and Kansai Nerolac.
10/11
Jubilant FoodWorks | CMP: Rs 659| The stock fell 3.36 percent after the Dominos' operator announced that it has received a final assessment order from the Income Tax Department, raising a tax demand of Rs 71 crore for financial year 2016-2017. This tax demand is related to certain Transfer Pricing Adjustments.
11/11
Bajaj Auto | CMP: Rs 12,175 | The stock declined 1.38 percent, staying in the red for a third trading session in a row as investors took partial profits off the table. This comes just hours after the two- and three-wheeler major declared its sales for September. On the previous session. international brokerage UBS gave a sell call on the player.
