All sectoral indices ended in the green, with auto, capital goods, bank, metal, IT, power and realty up 2-3 percent
Indian benchmark indices had their best run in five weeks, closing more than 2.2 percent higher on October 4 amid positive global cues and buying across sectors. The Sensex ended 1,276.66 points, or 2.25%, higher at 58,065.47 and the Nifty was up 387 points, or 2.29%, at 17,274.30.
M&M Financial Services | CMP: Rs 200 | The scrip surged 11 percent after the company reported disbursements of approximately Rs 4,080 crore in September. This translates to year-on-year growth of 82 percent in the second quarter and 106 percent in the first half of FY23. Collection efficiency was at 98 percent for September as against 96 percent a month before.
Angel One | CMP: Rs 1537.90 | The stock surged 12.7 percent after the company reported its monthly update. September client base stood at 11.57 million, up 77.4 percent YoY and 3.4 percent MoM. The number of orders came in at 90.5 million, up 65.8 percent YoY and 24.8 percent MoM.
IndusInd Bank | CMP: Rs 1217 | It was the top Nifty gainer, surging over 5.4 percent. According to an exchange filing, the bank’s net advances grew 18 percent year-on-year and 5 percent QoQ to Rs 2.59 lakh crore in the September quarter. Deposits grew by 15 percent YoY and 4 percent QoQ to Rs 3.15 lakh crore.
Easy Trip Planners | CMP: Rs 407 | The stock surged 6.2 percent after the company said that the board would meet on October 10 to consider bonus and stock split. ICICI Direct has a “buy” call on the stock with a target price of Rs 505. It likes the company for its user-friendly platform, unique travel offerings, low-cost business model and healthy balance sheet.
Natco Pharma | CMP: Rs 622.50 | Stock gained 1.8 percent after the company launched two Chlorantraniliprole (CTPR) pesticide formulated combination products. In an exchange filing, the company said, “Both products are broad-spectrum, foliar insecticides used across a wide range of crops. We estimate the market size of the CTPR combination products to be around Rs 800 crore in India.”
Edelweiss Financial Services | CMP: Rs 61.60 | The stock gained 2.75 percent after Edelweiss Alternative Asset Advisors announced fundraising of $ 425 million in its third Special Situations Fund (ISAF III). The fund received CRISIL Fund Management Grading -1, denoting “very strong” standards in investment process and management practices.
Inox Leisure | CMP: Rs 503.5 | The stock declined over a percent. According to Prabhudas Lilladher, footfalls for multiplexes might be 30-40 percent lower in Q2FY23 as compared to Q1FY23 due to a string of flop films. “In such a scenario, Q2FY23 footfalls would more or less be a replica of Q4FY22 wherein Inox managed a breakeven,” it said.
HDFC Bank | CMP: Rs 1456.15 | The stock gained 3 percent after reporting Q2FY23 update. The private lender’s advances came in at Rs 14.8 lakh crore as of September 30, 2022, a growth of around 23.5 percent YoY. Deposits aggregated to Rs 16.73 lakh crore, up 19 percent from the year-ago period and CASA ratio stood at around 45 percent.
IDFC First Bank | CMP: Rs 53.35 | The private lender’s funded assets grew 24.80 percent YoY while it shot up 5.60 percent QoQ. Customer deposits grew 35.90 percent YoY whereas it logged a 10.80 percent rise in QoQ basis. CASA Ratio stood at 51.34 percent as of September 30, 2022 compared to 50.04 percent as of June 30, 2022. The stock surged 8 percent.
Reliance Industries | CMP: Rs 2,412.90 | RIL gained 1.8 percent. Sanmina Corporation, a leading integrated manufacturing solutions company and Reliance Strategic Business Ventures, a wholly-owned subsidiary of Reliance Industries, said on October 4 that they had completed the joint venture transaction. The JV will create a world-class electronic manufacturing hub in India. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
Shailaja Mohapatra Senior sub-editor, Moneycontrol
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