VSF Projects

< -5%

Giriraj Civil D

Popular Estate

Teerth Gopicon

Oval Projects

Shashijit Infra

-5% to -3%

Mega Nirman

Globe Civil Pro

Madhav Infra Pr

Goel Constructi

Larsen

Ircon Internati

-3% to 0%

Sattva Engineer

Mayasheel Vent

Techno Electric

Winsol Engineer

0% to 3%

GRANDOAK

Gayatri Highway

3% to 5%

Lakshya Power

Epack Prefab

HM Electro Mech

NBFC Authum Investment &amp; Infrastructure has acquired additional 2.6 percent equity stake in Bharat Wire Ropes, the steel wire rope manufacturing company, via open market transaction on October 3

<a href="https://www.moneycontrol.com/india/stockpricequote/steel-mediumsmall/bharatwireropes/BWR01">Bharat Wire Ropes</a> shares rallied 4.69 percent to finish the session at Rs 210.58, snapping three-day losing streak.

Authum Investment &amp; Infrastructure, which already has 15.89 percent shareholding as of September 2025, bought 18 lakh shares (equivalent to 2.6 percent of paid-up equity) at Rs 210 per share for Rs 37.8 crore.

However, Alpana Sanjay Dangi was the seller for the above 2.6 percent stake. As per the September shareholding pattern, she held 7.61 percent shares in Bharat Wire Ropes.

Meanwhile, the action was also seen in Black Box, the technology solutions and services provider, which rebounded 4.31 percent to Rs 553.5 after five-day correction amid high volumes. This was despite more than a percent stake sold by one of the investors.

India Opportunities Growth Fund - Pinewood Strategy offloaded 10.04 lakh shares in <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/blackbox/AGC">Black Box</a> at Rs 550 per share for Rs 55.2 crore, and 9.95 lakh shares at Rs 550.03 per share for Rs 54.75 crore.

<a href="https://www.moneycontrol.com/india/stockpricequote/miscellaneous/dredgingcorporationindia/DCI">Dredging Corporation of India</a> shares were locked in 20 percent upper circuit to close at Rs 889.35 on Monday, in addition to nearly 19 percent rally last week, continuing upward journey for third consecutive week.

Invesco Mutual Fund bought 1.52 lakh shares (0.54 percent stake) in Dredging Corporation at Rs 851.7 per share for Rs 13 crore.

The action was also seen in <a href="https://www.moneycontrol.com/india/stockpricequote/speciality-chemicals/fineotexchemical/FC02">Fineotex Chemical</a>, which surged 7.4 percent to Rs 32.05 despite Nippon Mutual Fund sold 29.58 lakh shares at Rs 33.2 per share for Rs 9.82 crore.

Despite 1.45 percent stake sold by alternate investment funds, <a href="https://www.moneycontrol.com/india/stockpricequote/miscellaneous/tscindia/TIL08">TSC India</a> shares soared 5 percent to Rs 63. Viney Growth Fund offloaded 1.1 lakh shares in the travel management company at Rs 62.81 per share for Rs 69.09 lakh, and Persistent Growth Fund Varsu India Growth Story Scheme 1 sold 94,000 shares at Rs 62.93 per share for Rs 59.15 lakh.

The buying was also seen in <a href="https://www.moneycontrol.com/india/stockpricequote/diversified/exhiconeventsmediasolutions/EEM">Exhicon Events Media Solutions</a> despite alternate investment fund offloading 1.89 percent stake in the company, rising 8.36 percent to Rs 488.75 amid high volumes.

India Equity Fund 1 sold 2.49 lakh shares in Exhicon Events Media Solutions at Rs 447.15 per share, valued at Rs 11.15 crore, against its 3.53 percent shareholding at the end of September 2025.

Ownership, Material Conflicts of Interest and Disciplinary History

MCD is a wholly owned subsidiary of Network 18 Media & Investments Ltd ("Network18"), in which Independent Media Trust (IMT) holds 56.89% stake. Reliance Industries Limited ("RIL") is the sole beneficiary of IMT. Network18 and RIL and their subsidiaries, joint ventures and associates can be considered as associates of MCD.

Details of Associate

Receipt of Compensation

Third-Party Compensation

Employment History

Market-Making Activities

Use of Artificial Intelligence

Authum Investment picks additional 2.6% stake in Bharat Wire Ropes

NBFC Authum Investment &amp;amp; Infrastructure has acquired additional 2.6 percent equity stake in Bharat Wire Ropes, the steel wire rope manufacturing company, via open market transaction on October 3

Bharat Wire Ropes shares rallied 4.69 percent to finish the session at Rs 210.58, snapping three-day losing streak.

Authum Investment &amp;amp; Infrastructure, which already has 15.89 percent shareholding as of September 2025, bought 18 lakh shares (equivalent to 2.6 percent of paid-up equity) at Rs 210 per share for Rs 37.8 crore.

However, Alpana Sanjay Dangi was the seller for the above 2.6 percent stake. As per the September shareholding pattern, she held 7.61 percent shares in Bharat Wire Ropes.

Meanwhile, the action was also seen in Black Box, the technology solutions and services provider, which rebounded 4.31 percent to Rs 553.5 after five-day correction amid high volumes. This was despite more than a percent stake sold by one of the investors.

India Opportunities Growth Fund - Pinewood Strategy offloaded 10.04 lakh shares in Black Box at Rs 550 per share for Rs 55.2 crore, and 9.95 lakh shares at Rs 550.03 per share for Rs 54.75 crore.

Dredging Corporation of India shares were locked in 20 percent upper circuit to close at Rs 889.35 on Monday, in addition to nearly 19 percent rally last week, continuing upward journey for third consecutive week.

Invesco Mutual Fund bought 1.52 lakh shares (0.54 percent stake) in Dredging Corporation at Rs 851.7 per share for Rs 13 crore.

The action was also seen in Fineotex Chemical, which surged 7.4 percent to Rs 32.05 despite Nippon Mutual Fund sold 29.58 lakh shares at Rs 33.2 per share for Rs 9.82 crore.

Despite 1.45 percent stake sold by alternate investment funds, TSC India shares soared 5 percent to Rs 63. Viney Growth Fund offloaded 1.1 lakh shares in the travel management company at Rs 62.81 per share for Rs 69.09 lakh, and Persistent Growth Fund Varsu India Growth Story Scheme 1 sold 94,000 shares at Rs 62.93 per share for Rs 59.15 lakh.

The buying was also seen in Exhicon Events Media Solutions despite alternate investment fund offloading 1.89 percent stake in the company, rising 8.36 percent to Rs 488.75 amid high volumes.

India Equity Fund 1 sold 2.49 lakh shares in Exhicon Events Media Solutions at Rs 447.15 per share, valued at Rs 11.15 crore, against its 3.53 percent shareholding at the end of September 2025.

The shares of IIFL Finance jumped nearly 5 percent to hit a fresh record high on November 3 as positive brokerage note following the firm's Q2 results boosted investor sentiment. Arvind Fashions and Wockhardt shares also recorded sharp gains on Monday.

IIFL Finance shares hit a new 52-week high of Rs 559.75 apiece. Arvind Fashions shares rose nearly 10 percent to trade at Rs 550.9 apiece, while Wockhardt shares jumped around 11 percent to Rs 1,433.80 apiece.

IIFL Finance Q2 Results:

<a href="https://www.moneycontrol.com/india/stockpricequote/finance-general/iiflfinance/II15">IIFL Finance</a> on October 30 reported a net profit of Rs 376 crore for the July-September quarter of the financial year 2026. This comes against a net loss of Rs 158 crore in the corresponding quarter of the previous financial year.

The firm’s revenue from operations meanwhile rose over 29 percent year-on-year (YoY) to Rs 3,305 crore during the quarter under review. It had earlier reported revenue from operations at Rs 2,556 crore for the same period last year.

Motilal Oswal kept a ‘Buy’ rating on the stock, with a target price of Rs 635 apiece. This implies an upside potential of nearly 19 percent from the stock’s previous closing price. The domestic brokerage said that the firm’s earnings beat estimates with off-book gaining traction and strong gold loan growth.

“IIFL reported an operationally mixed quarter, with strong momentum in the gold loan segment supported by robust demand and higher gold prices, while growth in other segments remained subdued. The company exhibited asset quality pressures in its micro-LAP, unsecured business loan, and MFI portfolio, resulting in credit costs continuing to remain elevated. However, it expects an improvement in housing segment growth and a moderation in credit costs in H2, aided by strengthened collection architecture and ongoing recovery efforts,” it added.

Arvind Fashions Q2 Results:

<a href="https://www.moneycontrol.com/india/stockpricequote/miscellaneous/arvindfashionslimited/ARVIN54248">Arvind Fashions</a> today reported a consolidated net profit of Rs 37.5 crore for Q2 FY26. This marks a 27 percent YoY rise from the Rs 29.6 crore net profit reported in Q2 FY25. The firm’s revenue from operations meanwhile rose 11 percent YoY to Rs 1,417 crore.

The company that sells apparel under the brands Arrow, US Polo Assn, Tommy Hilfigher, Calvin Klein and more in India, said that its EBITDA meanwhile rose to Rs 200 crore.

“In Q2 FY26, we sustained our strong growth trajectory with an 11.3% increase in revenue. The recent GST reforms are expected to further boost consumer confidence and spending. As we move forward, we remain focused on investing in our marquee brands and strengthening consumer connections through our direct channel strategy, while accelerating retail expansion, driving premiumisation and scaling adjacent categories – further, strengthening our portfolio and creating long – term value for our shareholders,” said Amisha Jain, MD &amp; CEO of Arvind Fashions.

Wockhardt Q2 Results:

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/pharmaceuticals/wockhardt/W05">Wockhardt</a> jumped more than 11 percent on November 3 after the company reported a consolidated net profit of Rs 78 crore for the second quarter of the financial year 2026. This comes against a net loss of Rs 22 crore in Q2 FY25, and Rs 90 crore in Q1 FY26.

The firm’s revenue from operations meanwhile fell over 3 percent YoY to Rs 782 crore during the July-September quarter of the financial year 2026, from Rs 809 crore in the corresponding quarter of the previous financial year.

Also read: <a href="https://www.moneycontrol.com/news/business/earnings/q2-results-2025-live-updates-bharti-airtel-ambuja-cements-titan-power-grid-corp-tata-consumer-godfrey-phillips-q2-earnings-dividend-share-price-nov-3-liveblog-13648397.html">Our LIVE blog on Q2 updates</a>

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Q2 results impact: IIFL Finance shares hit record high; Arvind Fashions, Wockhardt rise up to 11%

The shares of IIFL Finance jumped nearly 5 percent to hit a fresh record high on November 3 as positive brokerage note following the firm's Q2 results boosted investor sentiment. Arvind Fashions and Wockhardt shares also recorded sharp gains on Monday.

IIFL Finance shares hit a new 52-week high of Rs 559.75 apiece. Arvind Fashions shares rose nearly 10 percent to trade at Rs 550.9 apiece, while Wockhardt shares jumped around 11 percent to Rs 1,433.80 apiece.

IIFL Finance Q2 Results:

IIFL Finance on October 30 reported a net profit of Rs 376 crore for the July-September quarter of the financial year 2026. This comes against a net loss of Rs 158 crore in the corresponding quarter of the previous financial year.

The firm’s revenue from operations meanwhile rose over 29 percent year-on-year (YoY) to Rs 3,305 crore during the quarter under review. It had earlier reported revenue from operations at Rs 2,556 crore for the same period last year.

Motilal Oswal kept a ‘Buy’ rating on the stock, with a target price of Rs 635 apiece. This implies an upside potential of nearly 19 percent from the stock’s previous closing price. The domestic brokerage said that the firm’s earnings beat estimates with off-book gaining traction and strong gold loan growth.

“IIFL reported an operationally mixed quarter, with strong momentum in the gold loan segment supported by robust demand and higher gold prices, while growth in other segments remained subdued. The company exhibited asset quality pressures in its micro-LAP, unsecured business loan, and MFI portfolio, resulting in credit costs continuing to remain elevated. However, it expects an improvement in housing segment growth and a moderation in credit costs in H2, aided by strengthened collection architecture and ongoing recovery efforts,” it added.

Arvind Fashions Q2 Results:

Arvind Fashions today reported a consolidated net profit of Rs 37.5 crore for Q2 FY26. This marks a 27 percent YoY rise from the Rs 29.6 crore net profit reported in Q2 FY25. The firm’s revenue from operations meanwhile rose 11 percent YoY to Rs 1,417 crore.

The company that sells apparel under the brands Arrow, US Polo Assn, Tommy Hilfigher, Calvin Klein and more in India, said that its EBITDA meanwhile rose to Rs 200 crore.

“In Q2 FY26, we sustained our strong growth trajectory with an 11.3% increase in revenue. The recent GST reforms are expected to further boost consumer confidence and spending. As we move forward, we remain focused on investing in our marquee brands and strengthening consumer connections through our direct channel strategy, while accelerating retail expansion, driving premiumisation and scaling adjacent categories – further, strengthening our portfolio and creating long – term value for our shareholders,” said Amisha Jain, MD &amp;amp; CEO of Arvind Fashions.

Wockhardt Q2 Results:

The shares of Wockhardt jumped more than 11 percent on November 3 after the company reported a consolidated net profit of Rs 78 crore for the second quarter of the financial year 2026. This comes against a net loss of Rs 22 crore in Q2 FY25, and Rs 90 crore in Q1 FY26.

The firm’s revenue from operations meanwhile fell over 3 percent YoY to Rs 782 crore during the July-September quarter of the financial year 2026, from Rs 809 crore in the corresponding quarter of the previous financial year.

Also read: Our LIVE blog on Q2 updates

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/personal-care/godrejconsumerproducts/GCP">Godrej Consumer Products</a> dropped nearly 6 percent on November 3 after the company released its results for the second quarter of the financial year 2026. This comes as brokerages issued bullish calls for the stock, anticipating stronger performance in the second half of the ongoing financial year, following the GST rate cuts.

The shares of the company were trading at Rs 1,184.80 apiece in the morning.

Godrej Consumer Q2 Results:

Godrej Consumer Products on Friday reported a consolidated net profit of Rs 459 crore for Q2 FY26. This marks a 6.5 percent YoY fall from the Rs 491 crore net profit reported in the same period last year. The firm's revenue from operations meanwhile rose 4 percent YoY to Rs 3,825 crore.

Along with the Q2 results, Godrej Consumer announced an interim dividend of Rs 5 per share for the financial year 2026. The record date to determine the eligibility of the shareholders set to receive the dividend has been set at November 7. The dividend will be paid on or before November 30.

Jefferies on Godrej Consumer:

Jefferies has a 'Buy' call on Godrej Consumer, with a target price of Rs 1,400 apiece. This implies an upside potential of more than 25 percent from the stock's previous closing price.

The international brokerage said that the firm reported a weak Q2 with GST rate cut pressure in India and weather issues in the first half of the financial year 2026. It however noted that the volume growth was 3 percent ahead of its estimate.

HSBC on Godrej Consumer:

HSBC has a 'Buy' call on the stock, with a target price of Rs 1,440 apiece. This implies an upside potential of nearly 29 percent from the stock's previous closing price.

The brokerage noted that the firm's performance in Q2 was weak due to GST cuts and adverse weather. It however expects EBITDA margins to recover in the second half. While adjusting its earnings lower, HSBC said that the firm's growth outlook looks strong in H2.

Motilal Oswal on Godrej Consumer:

Motilal Oswal kept a 'Buy' rating on the stock, with a target price of Rs 1,400 per share. This implies an upside potential of more than 25 percent from the stock's previous closing price.

"The Indian business is witnessing a gradual recovery, with a steady 1H performance reinforcing confidence in an improving trajectory toward accelerated volume growth. With easing palm oil prices, the company is well-positioned for margin recovery in 2HFY26, supporting overall profitability. This combination of volume traction and margin tailwinds strengthens earnings visibility. We model 10%/12% revenue and EBITDA CAGR for FY25-28E. The company is expanding its TAM by foraying into new, faster-growing categories and continues to strengthen its core portfolio," the domestic brokerage said.

PhillipCapital said H2 should see strong rebound in volumes and margin as soap business keeps improving due to stabilising palm oil. Emkay Global meanwhile said that the company is enhancing execution and expanding into high-growth segments, benefits of which will show when macro volatility eases.

Centrum says, "We believe there are early signs of tailwinds," adding 400 bps of negative impact on growth due to GST transition implies high-single digit growth on normalised basis. This shows a "decent performance". It added that as palm oil price volatility improves, margins will see recovery.

Also read: <a href="https://www.moneycontrol.com/news/business/earnings/q2-results-2025-live-updates-bharti-airtel-ambuja-cements-titan-power-grid-corp-tata-consumer-godfrey-phillips-q2-earnings-dividend-share-price-nov-3-liveblog-13648397.html">Our LIVE blog on Q2 updates</a>

(With inputs from agencies)

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Godrej Consumer shares jump 6% despite decline in Q2 net profit: analysts expect stronger H2FY26

The shares of Godrej Consumer Products dropped nearly 6 percent on November 3 after the company released its results for the second quarter of the financial year 2026. This comes as brokerages issued bullish calls for the stock, anticipating stronger performance in the second half of the ongoing financial year, following the GST rate cuts.

The shares of the company were trading at Rs 1,184.80 apiece in the morning.

Godrej Consumer Q2 Results:

Godrej Consumer Products on Friday reported a consolidated net profit of Rs 459 crore for Q2 FY26. This marks a 6.5 percent YoY fall from the Rs 491 crore net profit reported in the same period last year. The firm's revenue from operations meanwhile rose 4 percent YoY to Rs 3,825 crore.

Along with the Q2 results, Godrej Consumer announced an interim dividend of Rs 5 per share for the financial year 2026. The record date to determine the eligibility of the shareholders set to receive the dividend has been set at November 7. The dividend will be paid on or before November 30.

Jefferies on Godrej Consumer:

Jefferies has a 'Buy' call on Godrej Consumer, with a target price of Rs 1,400 apiece. This implies an upside potential of more than 25 percent from the stock's previous closing price.

The international brokerage said that the firm reported a weak Q2 with GST rate cut pressure in India and weather issues in the first half of the financial year 2026. It however noted that the volume growth was 3 percent ahead of its estimate.

HSBC on Godrej Consumer:

HSBC has a 'Buy' call on the stock, with a target price of Rs 1,440 apiece. This implies an upside potential of nearly 29 percent from the stock's previous closing price.

The brokerage noted that the firm's performance in Q2 was weak due to GST cuts and adverse weather. It however expects EBITDA margins to recover in the second half. While adjusting its earnings lower, HSBC said that the firm's growth outlook looks strong in H2.

Motilal Oswal on Godrej Consumer:

Motilal Oswal kept a 'Buy' rating on the stock, with a target price of Rs 1,400 per share. This implies an upside potential of more than 25 percent from the stock's previous closing price.

&quot;The Indian business is witnessing a gradual recovery, with a steady 1H performance reinforcing confidence in an improving trajectory toward accelerated volume growth. With easing palm oil prices, the company is well-positioned for margin recovery in 2HFY26, supporting overall profitability. This combination of volume traction and margin tailwinds strengthens earnings visibility. We model 10%/12% revenue and EBITDA CAGR for FY25-28E. The company is expanding its TAM by foraying into new, faster-growing categories and continues to strengthen its core portfolio,&quot; the domestic brokerage said.

PhillipCapital said H2 should see strong rebound in volumes and margin as soap business keeps improving due to stabilising palm oil. Emkay Global meanwhile said that the company is enhancing execution and expanding into high-growth segments, benefits of which will show when macro volatility eases.

Centrum says, &quot;We believe there are early signs of tailwinds,&quot; adding 400 bps of negative impact on growth due to GST transition implies high-single digit growth on normalised basis. This shows a &quot;decent performance&quot;. It added that as palm oil price volatility improves, margins will see recovery.

Also read: Our LIVE blog on Q2 updates

(With inputs from agencies)

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/auto-carsjeeps/marutisuzukiindia/MS24">Maruti Suzuki</a> dropped more than 3 percent on November 3 after the company released its results for the second quarter of the financial year 2026. Brokerages have mixed reviews for the stock, with some raising target prices while some remaining cautious about the long-term outlook.

The shares of the company were trading at Rs 15,676 apiece in the early trading hours of Friday. The stock has dropped more than

Maruti Suzuki Q2 Results:

Maruti Suzuki on October 31 reported a <a href="https://www.moneycontrol.com/news/business/earnings/maruti-suzuki-q2-profit-rises-7-to-rs-3-293-crore-13645007.html">standalone net profit</a> of Rs 3,293 crore for the July-September quarter of the ongoing financial year 2026. This marks a 7 percent year-on-year (YoY) increase from the Rs 3,069 crore net profit reported in the corresponding quarter of the previous financial year.

The company's total revenue from operations increased 13 percent YoY to Rs 42,101 crore in the July-September quarter of FY26, as compared with Rs 37,203 crore in the year-ago period. The earnings before interest, taxes, depreciation and amortization (EBITDA) increased 0.4 percent YoY to Rs 4,434 crore in Q2 FY26 from Rs 4,417 crore in the year-ago period, with the margin reducing to 10.53 percent during the quarter under review from 11.87 percent in Q2 FY25.

Maruti Suzuki October auto sales:

The country's largest carmaker reported <a href="https://www.moneycontrol.com/automobile/car-sales-hit-record-high-in-october-on-gst-2-0-boost-festive-demand-article-13646885.html">PV wholesales of 1,76,318 units in October 2025</a>, marking a 10.48 percent YoY rise over the 1,59,591 units sold in the year-ago month.

Maruti's Senior Executive Officer for Marketing and Sales, Partho Banerjee, said that Maruti retails sales rose almost 20 percent YoY to 2,42,096 units in October 2025. "We expect our Vahan market share to be around 43.5%," he added.

Here’s what brokerages say:

Jefferies on Maruti Suzuki:

Jefferies downgraded the stock to 'Hold' from its earlier 'Buy' rating on market share concerns. The international brokerage said that MRTI missed second-quarter profit estimates due to higher costs.

However, Jefferies added that it expects small car sales to pick up on India's GST cut boost. It further said that while passenger vehicle demand is positive and exports are doing well, it is concerned about MRTI's PV market share.

Choice Institutional Equities on Maruti Suzuki:

Choice Institutional Equities kept a 'Reduce' call on the stock, but raised its target price to Rs 15,800 apiece. This marks a downside potential of more than 2 percent from the stock's previous closing price.

The brokerage said that it remains "cautiously optimistic" about the company's long-term prospects, driven by upcoming launches, premiumization, and export expansions. "However, margin pressures, slower recovery in the key segment (Mini), and continued market share decline warrant a conservative stance," it added.

HDFC Securities on Maruti Suzuki:

HDFC Securities maintained its ‘Buy’ rating on the stock, with a target price of Rs 18,607 apiece. This implies an upside potential of nearly 15 percent from the stock’s previous closing price of Rs 16,186 apiece.

The domestic brokerage noted that the firm’s Q2 EBITDA margin of 10.5 percent was in line with the Bloomberg consensus estimate of 10.6 percent, but above its estimate of 10.2 percent. “We expect margins to improve going forward as capacity utilization improves on the back of higher PV demand, ramp-up of the Victoris model, and increasing exports. We expect exports to continue to do well over the medium term, benefitting from the company’s efforts over the last few years to improve penetration across markets, including developed markets, and with a wider portfolio and improving mix,” it added.

Motilal Oswal on Maruti Suzuki:

Motilal Oswal maintained its ‘Buy’ rating on the stock, with a target price of Rs 18,712 per share. This implies an upside potential of nearly 16 percent from the stock’s previous closing price. The domestic brokerage said that the firm’s PAT was in-line with its estimate, while EBITDA margin beating expectations due to an improved mix.

“The GST rate cut has helped revive small car demand. This coupled with the launch of the new Victoris, as well as the e-Vitara, is likely to help drive market share gains for MSIL from here on. Further, the company anticipates exceeding its exports growth guidance of 400k units (+20% YoY) in FY26. Overall, we project MSIL to deliver a 17.5% earnings CAGR over FY25-28,” it said.

Also read: <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-03-11-2025-liveblog-13647616.html">Our LIVE blog on stock market updates</a>

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Maruti Suzuki falls 3% post-Q2 results; Jefferies downgrades stock to 'Hold'

The shares of Maruti Suzuki dropped more than 3 percent on November 3 after the company released its results for the second quarter of the financial year 2026. Brokerages have mixed reviews for the stock, with some raising target prices while some remaining cautious about the long-term outlook.

The shares of the company were trading at Rs 15,676 apiece in the early trading hours of Friday. The stock has dropped more than

Maruti Suzuki Q2 Results:

Maruti Suzuki on October 31 reported a standalone net profit of Rs 3,293 crore for the July-September quarter of the ongoing financial year 2026. This marks a 7 percent year-on-year (YoY) increase from the Rs 3,069 crore net profit reported in the corresponding quarter of the previous financial year.

The company's total revenue from operations increased 13 percent YoY to Rs 42,101 crore in the July-September quarter of FY26, as compared with Rs 37,203 crore in the year-ago period. The earnings before interest, taxes, depreciation and amortization (EBITDA) increased 0.4 percent YoY to Rs 4,434 crore in Q2 FY26 from Rs 4,417 crore in the year-ago period, with the margin reducing to 10.53 percent during the quarter under review from 11.87 percent in Q2 FY25.

Maruti Suzuki October auto sales:

The country's largest carmaker reported PV wholesales of 1,76,318 units in October 2025, marking a 10.48 percent YoY rise over the 1,59,591 units sold in the year-ago month.

Maruti's Senior Executive Officer for Marketing and Sales, Partho Banerjee, said that Maruti retails sales rose almost 20 percent YoY to 2,42,096 units in October 2025. &quot;We expect our Vahan market share to be around 43.5%,&quot; he added.

Here’s what brokerages say:

Jefferies on Maruti Suzuki:

Jefferies downgraded the stock to 'Hold' from its earlier 'Buy' rating on market share concerns. The international brokerage said that MRTI missed second-quarter profit estimates due to higher costs.

However, Jefferies added that it expects small car sales to pick up on India's GST cut boost. It further said that while passenger vehicle demand is positive and exports are doing well, it is concerned about MRTI's PV market share.

Choice Institutional Equities on Maruti Suzuki:

Choice Institutional Equities kept a 'Reduce' call on the stock, but raised its target price to Rs 15,800 apiece. This marks a downside potential of more than 2 percent from the stock's previous closing price.

The brokerage said that it remains &quot;cautiously optimistic&quot; about the company's long-term prospects, driven by upcoming launches, premiumization, and export expansions. &quot;However, margin pressures, slower recovery in the key segment (Mini), and continued market share decline warrant a conservative stance,&quot; it added.

HDFC Securities on Maruti Suzuki:

HDFC Securities maintained its ‘Buy’ rating on the stock, with a target price of Rs 18,607 apiece. This implies an upside potential of nearly 15 percent from the stock’s previous closing price of Rs 16,186 apiece.

The domestic brokerage noted that the firm’s Q2 EBITDA margin of 10.5 percent was in line with the Bloomberg consensus estimate of 10.6 percent, but above its estimate of 10.2 percent. “We expect margins to improve going forward as capacity utilization improves on the back of higher PV demand, ramp-up of the Victoris model, and increasing exports. We expect exports to continue to do well over the medium term, benefitting from the company’s efforts over the last few years to improve penetration across markets, including developed markets, and with a wider portfolio and improving mix,” it added.

Motilal Oswal on Maruti Suzuki:

Motilal Oswal maintained its ‘Buy’ rating on the stock, with a target price of Rs 18,712 per share. This implies an upside potential of nearly 16 percent from the stock’s previous closing price. The domestic brokerage said that the firm’s PAT was in-line with its estimate, while EBITDA margin beating expectations due to an improved mix.

“The GST rate cut has helped revive small car demand. This coupled with the launch of the new Victoris, as well as the e-Vitara, is likely to help drive market share gains for MSIL from here on. Further, the company anticipates exceeding its exports growth guidance of 400k units (+20% YoY) in FY26. Overall, we project MSIL to deliver a 17.5% earnings CAGR over FY25-28,” it said.

Also read: Our LIVE blog on stock market updates

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

 

The newly-listed shares of <a href="https://www.moneycontrol.com/india/stockpricequote/misc-commercial-services/urbancompany/UCL02">Urban Company</a> plunged more than 6 percent in the early trading hours of November 3. This comes after the company released its first quarterly results following its initial public offering (IPO).

The shares of the company opened at Rs 148 apiece on Monday.

Urban Company Q2 Results:

The Gurugram-based firm on Saturday reported a <a href="https://www.moneycontrol.com/news/business/earnings/urban-company-q2-results-loss-widens-to-rs-59-crore-revenue-up-37-yoy-13646674.html">consolidated net loss of Rs 59.33 crore</a> for the second quarter of the ongoing financial year 2026. This is significantly higher than the Rs 1.82 crore net loss reported in the corresponding quarter of the previous financial year.

Notably, the company’s net loss comes despite reporting a net profit of Rs 6.94 percent in the previous quarter (Q1 FY26).

While net loss widened, Urban Company’s revenue from operations rose over 37 percent year-on-year (YoY) to Rs 380 crore during the quarter under review. It had earlier reported revenue from operations at Rs 277 crore for the same period last year (Q2 FY25).

Total expenses climbed to Rs 462 crore in the quarter, up from Rs 384 crore in the previous quarter, as the company stepped up spending on partner training, onboarding, and customer acquisition to scale Insta Help. As a result, adjusted EBITDA turned negative at Rs 35 crore, compared with a profit of Rs 21 crore in Q1.

Excluding Insta Help, Urban Company said it generated an adjusted EBITDA profit of Rs 10 crore, or 0.9 percent of net transaction value (NTV), indicating that the core business remains profitable. Insta Help alone accounted for an EBITDA loss of Rs 44 crore during the period.

“Early indicators for Insta Help are encouraging, with strong consumer adoption and repeat usage,” the company said in its shareholder letter. “We view this category as a significant long-term opportunity and believe these investments are important to sustaining market leadership.”

Analysts at Morgan Stanley see limited clarity on the Insta Help's potential break-even, or the extent of investments required for it. Moreover, owing to continued investments in the segment, the company expects to incur losses for the next few quarters, it said in a statement.

Urban Company shares: Bumper market debut

Urban Company shares had made a bumper market debut on September 17, listing at a premium of over 57 percent over the IPO price at Rs 162.25 per share on the NSE. The shares gained further to close 64 percent higher than its IPO price on its debut day.

Urban Company stock performance so far:

The shares of the app-based beauty and home services platform continued to record strong gains for the next few sessions, rising around 24 percent in three sessions post debut to hit a high of Rs 201.18 per share on September 22. The shares of the company however sharply declined following that, dropping around 28 percent to hit a low of Rs 145 apiece on October 24.

At its low, the stock was down around 10.5 percent from its listing price of Rs 162.25 per share. It was however up nearly 41 percent from its IPO price of Rs 103 apiece.

Urban Company shares are however still up around 44 percent from its IPO price.

Also read: <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-03-11-2025-liveblog-13647616.html">Our LIVE blog on stock market updates</a>

(With inputs from Reuters)

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Urban Company shares plunge 6% after Q2 net loss widens to Rs 59 crore

Urban Company share price plunges 6% after Q2 net loss widens to Rs 59 crore

The newly-listed shares of Urban Company plunged more than 6 percent in the early trading hours of November 3. This comes after the company released its first quarterly results following its initial public offering (IPO).

The shares of the company opened at Rs 148 apiece on Monday.

Urban Company Q2 Results:

The Gurugram-based firm on Saturday reported a consolidated net loss of Rs 59.33 crore for the second quarter of the ongoing financial year 2026. This is significantly higher than the Rs 1.82 crore net loss reported in the corresponding quarter of the previous financial year.

Notably, the company’s net loss comes despite reporting a net profit of Rs 6.94 percent in the previous quarter (Q1 FY26).

While net loss widened, Urban Company’s revenue from operations rose over 37 percent year-on-year (YoY) to Rs 380 crore during the quarter under review. It had earlier reported revenue from operations at Rs 277 crore for the same period last year (Q2 FY25).

Total expenses climbed to Rs 462 crore in the quarter, up from Rs 384 crore in the previous quarter, as the company stepped up spending on partner training, onboarding, and customer acquisition to scale Insta Help. As a result, adjusted EBITDA turned negative at Rs 35 crore, compared with a profit of Rs 21 crore in Q1.

Excluding Insta Help, Urban Company said it generated an adjusted EBITDA profit of Rs 10 crore, or 0.9 percent of net transaction value (NTV), indicating that the core business remains profitable. Insta Help alone accounted for an EBITDA loss of Rs 44 crore during the period.

“Early indicators for Insta Help are encouraging, with strong consumer adoption and repeat usage,” the company said in its shareholder letter. “We view this category as a significant long-term opportunity and believe these investments are important to sustaining market leadership.”

Analysts at Morgan Stanley see limited clarity on the Insta Help's potential break-even, or the extent of investments required for it. Moreover, owing to continued investments in the segment, the company expects to incur losses for the next few quarters, it said in a statement.

Urban Company shares: Bumper market debut

Urban Company shares had made a bumper market debut on September 17, listing at a premium of over 57 percent over the IPO price at Rs 162.25 per share on the NSE. The shares gained further to close 64 percent higher than its IPO price on its debut day.

Urban Company stock performance so far:

The shares of the app-based beauty and home services platform continued to record strong gains for the next few sessions, rising around 24 percent in three sessions post debut to hit a high of Rs 201.18 per share on September 22. The shares of the company however sharply declined following that, dropping around 28 percent to hit a low of Rs 145 apiece on October 24.

At its low, the stock was down around 10.5 percent from its listing price of Rs 162.25 per share. It was however up nearly 41 percent from its IPO price of Rs 103 apiece.

Urban Company shares are however still up around 44 percent from its IPO price.

Also read: Our LIVE blog on stock market updates

(With inputs from Reuters)

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

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