Indian markets closed higher mainly supported by buying in the auto and realty names. At close, the Sensex was up 488.10 points, or 0.82%, at 59,677.83, and the Nifty was up 144.30 points, or 0.82%, at 17,790.30.
Titan Company | CMP: Rs 2,374 | The stock price surged over 10 percent after the Tata group firm reported a strong recovery in demand in the second quarter of the financial year 2021-22. Titan Company said its jewellery business grew by 78 percent and added 13 stores during the quarter.
Piramal Enterprises | CMP: Rs 2,899 | The stock added 2 percent after the board of directors of Piramal Enterprises on October 7 approved the demerger of pharma operations. For one share held in the company, four shares of Piramal Pharma would be issued. Piramal Pharma will be listed on BSE and NSE.
SREI Infra: CMP: Rs 7.45 | The share fell over 4 percent after the Bombay High Court on October 7 dismissed Srei Group’s plea against the Reserve Bank of India (RBI) superseding the boards of Srei Infrastructure Finance Ltd (SIFL) and Srei Equipment Finance Ltd (SEFL). Srei Group promoters Adisri Commercial Private Ltd had filed a petition challenging the RBI decision and also sought a stay on initiating insolvency proceedings against Srei Infrastructure Finance Ltd and Srei Equipment Finance Ltd.
HPCL | CMP: Rs 319.10 | The share price added over 2 percent after Moody’s Investors Service, an international credit rating agency for foreign currency (USD) denominated notes, revised the Long Term Issuer Default Rating outlook of Hindustan Petroleum Corporation Limited to “stable” from “negative”.
Sobha | CMP: Rs 880.30 | The scrip surged over 16 percent after the company achieved “best-ever” sales volume at sustainable price realisation, the company said in a press release.
Kalyan Jewellers | CMP: Rs 80.50 | The stock price jumped over 14 percent after the company reported a 60 percent year-on-year revenue growth for its India operations during the quarter ended September 30, 2021.
NTPC | CMP: Rs 143 | The share price ended in the red on October 7 even though it signed a memorandum of understanding with Paris headquartered Électricité de France S.A. to explore potential power project opportunities in West Asia, Asia, Europe and Africa. The two companies will also collaborate for knowledge sharing, R&D, technical services and consultancy assignments.
Ramkrishna Forgings | CMP: Rs 1,145.60 | The scrip was up over 3 percent after it signed a Memorandum of Understanding with a US-based technology partner for developing powertrain components for the Indian EV market, the company said in a press release.
GAIL India | CMP: 159.95 | The stock shed over 3 percent on October 7. Moody’s has affirmed the ratings of GAIL with revised outlook from Baa3 with Negative outlook to Baa3 Stable outlook.
Ambuja Cements | CMP: Rs 402.95 | The share added 2 percent after Life Insurance Corporation of India acquired 3.99 crore equity shares in the company via open market transactions, increasing shareholding to 6.12% from 4.11%.