The market ended in the green for the seventh consecutive session, with the Sensex closing 459.64 points higher at 61,765.59 and the Nifty 138.50 points at 18,477
Indian benchmark indices ended higher for the seventh consecutive session on October 18 led by the metal, PSU bank and power stocks. At close, the Sensex was up 459.64 points, or 0.75%, at 61,765.59, and the Nifty was up 138.50 points, or 0.76%, at 18,477.
UltraTech Cement | CMP: Rs 7,395 | The share price ended flat on October 18 after the cement maker reported 12.6% increase in net profit at Rs 1,313.5 crore against Rs 1,166.4 crore (YoY). Revenue was up 15.7% at Rs 12,017 crore against Rs 10,387.1 crore (YoY). EBITDA gained 0.6% at Rs 2,714.4 crore against Rs 2,697.7 crore (YoY) while EBIT margin came in at 22.6% against 26% (YoY).
Ramkrishna Forgings | CMP: Rs 1,201 | The stock rose over 3 percent after the firm won a significant order from Indian Railways for the manufacturing of loco shells which will be supplied from its new fabrication unit in Jamshedpur, the company said in its release.
Mahindra CIE | CMP: Rs 263 | The share jumped 5 percent after the company reported higher consolidated profit at Rs 166.42 crore in Q2FY22 against Rs 60.76 crore in Q2FY21 and revenue jumped to Rs 2,090.7 crore from Rs 1,694.3 crore YoY.
Cyient | CMP: Rs 1,185.10 | The stock price gained over 2 percent after the firm reported higher consolidated profit at Rs 121.3 crore in Q2FY22 against Rs 115 crore in Q1FY22. Its revenue jumped to Rs 1,111.6 crore from Rs 1,058.2 crore QoQ.
Weizmann | CMP: Rs 58.15 | The scrip fell 5 percent on October 18. The company board at a meeting on October 16, 2021 approved a proposal for buyback of up to 14,12,515 shares of the company for an aggregate amount not exceeding Rs 847.51 lakh at Rs 60 apiece.
Shilpa Medicare | CMP: Rs 617 | The stock was down over 3 percent on October 18. The company’s board on October 14 approved the preferential allotment of 52.75 lacs shares aggregating to Rs 297.51 crores to various marquee investors at Rs 564 a share, the company said in a release.
Paras Defence | CMP: Rs 750.35 | The stock price surged 20 percent after the company decided to incorporate an associate company for maintenance and servicing of defence equipment. The Board of Directors at a meeting on October 18, 2021 approved incorporation an associate company in association with Krasny Defence Technologies Limited. The proposed company would be engaged in the maintenance, servicing and repairs of defence equipment and naval vessels, the company said in an exchange filing.
Avenue Supermarts | CMP: Rs 4,920 | The stock fell over 7 percent on October 18. The firm has reported consolidated profit after tax of Rs 418 crore for the quarter ended September 2021, an increase of 110% from Rs 199 crore in the same quarter of the previous year. Morgan Stanley has downgraded the stock to “underweight” with a target at Rs 4,338 as Q2 earnings missed estimates. Credit Suisse has kept the “underperform” call on the stock on its extremely stretched valuation and raised the target price to Rs 3,500.
HDFC Bank | CMP: Rs 1,674.50 | The share ended in the red on October 18. The bank reported a standalone profit at Rs 8,834.31 crore for September 2021 quarter, 17.6 percent higher from the corresponding period last fiscal, driven by higher other income, and marginal increase in provisions.
Fortis Healthcare | CMP: Rs 262.50 | The scrip slipped over 4 percent after Rakesh Jhunjhunwala reduced shareholding in the company to 4.23 percent (3,19,50,000 shares) in September 2021 quarter from 4.31 percent (3,25,50,000 shares) in the June quarter.
Sandip Das
