Among sectors, IT index fell 3 percent, while auto, bank, metal, power and realty indices added 1-2.5 percent. BSE midcap and smallcap indices rose 0.5 percent each.
Benchmark indices erased intraday gains but closed at fresh record highs on October 11 supported by the auto, bank, metal, power and realty stocks. At close, the Sensex was up 76.72 points or 0.13% at 60,135.78, and the Nifty was up 50.80 points or 0.28% at 17,946.
Reliance Industries | CMP: Rs 2,651.15 | The share price touched a 52-week high of Rs 2,724.7 on October 11 after the company’s wholly-owned subsidiary, Reliance New Energy Solar (RNESL), acquired a controlling stake in the REC Solar Holdings. Also, RNESL executed definitive agreements with Shapoorji Pallonji and Company (SPCPL), Khurshed Daruvala and Sterling & Wilson Solar (SWSL) to acquire a 40.0% stake post-money in SWSL. (Disclosure: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
Tata Consultancy Services | CMP: Rs 3,686.50 | The share price declined over 6 percent after the company’s earnings missed the street estimates. The company reported a consolidated net profit of Rs 9,624 crore for the second quarter of 2021-22, registering a 14.1 percent on-year growth. Its consolidated revenue during the July-September period stood at Rs 46,867 crore, up 16.8 percent over a year-ago quarter.
Tata Motors | CMP: Rs 415.65 | Tata Motors share price jumped more than 8 percent despite the company reporting an over 18 percent drop in retail sales for the second quarter ending September 2021 at 92,710 vehicles from 1,13,569 vehicles sold in Q2 last year.
JSW Steel | CMP: Rs 672.40 | JSW Steel share price rose 1 percent after the group combined crude steel production jumped 29 percent to 5.07 million tonnes in Q2FY22 against 3.92 mt in Q2FY21. The capacity utilisation at the standalone level was at 91% in Q222.
Glenmark Pharmaceuticals | CMP: Rs 533.80 | Glenmark Pharmaceuticals share price rose over a percent after the company announced the launch of a bioequivalent version of Tiotropium Bromide dry powder inhaler (DPI) under the brand name Tavulus in Spain for the treatment of chronic obstructive pulmonary disease (COPD).
Sunteck Realty | CMP: Rs 510.50 | The company share price rose 2.5 percent after its pre-sales were up 55% QoQ and 36% YoY at Rs 272 crore. Its collections rose 20% QoQ and 47% YoY to Rs 207 crore. The collection efficiency stood strong at 85% of pre-sales in H1FY22 as against 68 percent in H1FY21.
Vakrangee | CMP: Rs 44 | The share price added over 1 percent after the company, to maximise shareholder value, announced the demerger of both the businesses (Vakrangee Kendra Business as well as E-Governance & IT/ITES Business) into separate entities.
Pasupati Acrylon | CMP: Rs 36.65 | The company share price surged 10 percent after it received approval for listing of its equity shares on the National Stock Exchange (NSE). The equity shares of the company will be listed and admitted to trading on NSE with effect from October 12, 2O21.
Maruti Suzuki India | CMP: Rs 7,697.90 | The auto maker’s share price rose 3 percent after it reported production of 81,278 vehicles in September 2021. Last September, the company had produced 1,66,086 vehicles.
Equitas Small Finance Bank | CMP: Rs 68.60 | The share price gained 7 percent on October 11 after the bank reported a 13 percent increase in gross advances in Q2FY22 to Rs 18,981 crore (provisional) from Rs 16,731 crore in Q2FY21 and a 40 percent jump in total deposits to Rs 18,094 crore (provisional) from Rs 12,901 crore in the same period.
Rakesh Patil
