All the sectoral indices ended higher, with auto, realty, metal, oil & gas indices up 1-3 percent. BSE midcap and smallcap gained over 1.5 percent each
The benchmark indices ended higher for the second consecutive day on October 26 on the back of gains in auto, realty and metal stocks. At close, the Sensex was up 383.21 points, or 0.63%, at 61,350.26, and the Nifty was up 143 points, or 0.79%, at 18,268.40.
Kotak Mahindra Bank | CMP: Rs 2,210.65 | The stock price was up over 2 percent after the bank’s net interest income (NII) was up 3.2% at Rs 4,020.6 crore versus Rs 3,897.5 crore, YoY. Other income was at Rs 1,812.6 crore versus Rs 1,432.4 crore, YoY. However, it posted a 7 percent fall in its standalone net profit at Rs 2,032 crore against Rs 2,184.5 crore in the year-ago period.
Zee Entertainment | CMP: Rs 315.05 | The share was up over 3 percent after the Bombay High Court granted an injunction against calling an extra ordinary general meeting (EGM) in its row against its largest investor Invesco. The company has also cancelled its board meeting scheduled for October 27, citing a lack of quorum.
Tech Mahindra | CMP: Rs 1,564 | The scrip added over 2 percent after the IT firm reported a consolidated profit after tax (PAT) of Rs 1,339 crore for the quarter ended September 2021, down 1.1 percent from Rs 1,353 crore registered in the previous quarter. Morgan Stanley has an ‘overweight’ call on the stock and raised the target price to Rs 1,900 a share.
Ceat | CMP: Rs 1,310 | The stock ended in the green after the tyre-maker reported an increase in revenue to Rs 2,451.8 crore from Rs 1,978.5 crore YoY. The board has given its approval for raising up to Rs 500 crore via debt. The company, however, reported sharply lower profit at Rs 42 crore in Q2FY22 against Rs 181.9 crore in Q2FY21.
Canara Bank | CMP: Rs 194.50 | The share shed over 3 percent on October 26. The bank has reported net profit at Rs 1,332.6 crore against Rs 444.4 crore and net interest income (NII) came in at Rs 6,273.8 crore against Rs 6,304.9 crore, YoY. Gross NPA was at 8.4% and net NPA at 3.2%, QoQ.
Sharda Cropchem | CMP: Rs 317.90 | The stock ended in the green after the firm’s net profit jumped 68.4% to Rs 32 crore against Rs 19 crore (YoY). Revenue was up 51.3% at Rs 642.8 crore against Rs 424.8 crore (YoY). EBITDA gained 40.6% at Rs 89.7 crore against Rs 63.8 crore (YoY).
HG Infra Engineering | CMP: Rs 818 | The scrip jumped over 14 percent after the firm received the letter of award from the National Highways Authority of India for two projects worth Rs 2,297.25 crore.
RPSG Ventures | CMP: Rs 797.50 | The stock was down over 5 percent on October 26. The RP-Sanjiv Goenka (RPSG) Group has won the bid for the Lucknow team in the Indian Premier League. RPSG Ventures was declared to be one of the successful bidders at an auction conducted by the BCCI in Dubai on October 25, the company said in the release.
Indus Towers | CMP: Rs 283.05 | The stock ended in the red on October 26. The telecom infrastructure firm has reported a 38 percent rise in consolidated net profit to Rs 1,559 crore for September 2021 quarter.
Orient Cement | CMP: Rs 156.30 | The share price jumped over 6 percent after the company reported sharply higher profit at Rs 56.88 crore in Q2FY22 against Rs 34.82 crore in Q2FY21, revenue rose to Rs 613.12 crore from Rs 477.5 crore YoY.
Sandip Das
