Top Nifty gainers and losers: Britannia shines, Hero Moto sinks
Risk-off sentiment in domestic equities eased as Fed Chair Jerome Powell hinted that the US central bank may now be finished with the most aggressive tightening cycle in four decades. About 2013 shares advanced, 1062 shares declined, and 117 shares were unchanged.
The Indian benchmark indices erased previous two-session losses and ended higher on November 2 with the Nifty back above 19,100 comfortably, amid positive cues including no rate hike by the US Fed, falling US bond yield and crude oil prices. At the close, the Sensex was up 489.57 points or 0.77 percent at 64,080.90, and the Nifty was up 144.10 points or 0.76 percent at 19,133.30. About 2236 shares advanced, 1287 shares declined, and 140 shares were unchanged.
2/11
Britannia Industries Ltd: Shares of the FMCG major rose 3 percent to Rs 4,527 on November 2. The surge comes after it reported a consolidated net profit of Rs 586.50 crore for the September quarter of FY24, registering a growth of 19.55 percent YoY. The company's total revenue from operations increased 1.21 percent to Rs 4,432.88 crore from Rs 4,379.61 crore a year ago, the company said in a regulatory filing.
3/11
Hindalco Ltd: Shares of the aluminum and copper major rose 2.5 percent to Rs 474, extending gains for the fourth day in a row on November 2.
4/11
IndusInd Bank Ltd: Shares of the private lender rose 2 percent to Rs 1,461, snapping its two-day losing streak on the bourses on November 2. In Q2, it reported a net profit of Rs 2202 crore for the July-September quarter of the current financial year, up 22 percent from the year-ago period, beating market estimates of Rs 2,128 crore.
Apollo Hospitals Enterprises Ltd: Shares of the healthcare major rose 1.9 percent to Rs 4,887 on November 2, trading in the green after two consecutive sessions of decline.
6/11
Eicher Motors Ltd: Shares of the Royal Enfield major rose 1.7 percent to Rs 3,338. The surge comes after it reported a 3 percent YoY rise in October.
7/11
Tech Mahindra Ltd: Shares of the IT major rose 0.8 percent to Rs 1,115, extending losses for the second day in a row on November 2.
8/11
Bajaj Finance Ltd: Shares fell 0.3 percent to Rs 7,449 after issuing 15.5 lakh warrants to promoter Bajaj Finserv for a total consideration of Rs 1,188.85 crore. The board of the company issued the warrants at a price of Rs 7,670 apiece. The warrants are convertible into equivalent equity shares, with a face value of Rs 2 each. Compared to Bajaj Finance shares’ closing price of Rs 7,670 on November 1, the warrants are issued at a premium of 2.65 percent.
