Among sectors, metal, healthcare, oil & gas and IT were down 0.5 percent each, while realty, power and capital goods ended in the green. BSE midcap index ended flat, while smallcap index rose 0.3 percent.
Indian benchmark indices ended with marginal change in the highly volatile session on October 7. At close, the Sensex was down 30.81 points or 0.05% at 58,191.29, while the Nifty settled 17.10 points or 0.10% at 17,314.70.
Titan Company | CMP: Rs 2,730.20 | The scrip jumped over 5 percent after the firm reported strong growth in sales for the September quarter, springing a positive surprise for investors. “The Company witnessed healthy double-digit growth across most businesses with overall sales growing 18 percent YoY (year-on-year),” Titan said in a regulatory filing.
Dabur India | CMP: Rs 540 | The stock ended in the red after the company came out with its business update for the quarter ended September 30. The FMCG company in its business update for Q2 FY23 said that the geopolitical environment continued to have an unusually high inflationary impact on its business. Operating margin is seen 150 to 200 basis points lower than in Q2FY22 due to inflationary input costs but will increase sequentially. However, the company stated that its business in the country has been steady and the firm expects to report revenue growth in the mid-single digits despite challenges posed by the macro-economic situation.
NTPC | CMP: Rs 164.80 | The stock ended in the green on October 7. The country’s largest power generation company has collaborated with GE Gas Power to reduce carbon intensity at its Kawas gas power plant in Gujarat. Both companies signed a Memorandum of Understanding (MoU) for the feasibility to demonstrate hydrogen (H2) co-firing blended with natural gas in GE’s 9E gas turbines installed at NTPC’s Kawas combined-cycle gas power plant in Gujarat. NTPC’s Kawas’ gas power plant is powered by four GE 9E gas turbines operating in a combined-cycle mode and has an installed capacity of 645 megawatt (MW).
Varroc Engineering | CMP: Rs 315.05 | The share price fell 7 percent on October 7. The company announced a revised deal for their lighting business. It said it would now receive 520 million euros which is less than the 600 million euros announced earlier. However, the company did not cite any reasons for the amendments to the deal, according to media sources.
RattanIndia Enterprises | CMP: Rs 53.80 | The stock price jumped 8 percent after the company said it will be acquiring 100 percent shareholding in the electric motorcycles market leader Revolt Motors. The Company had earlier acquired a 33.84 percent shareholding in Revolt with an option to further increase the shareholding.
Ajmera Realty | CMP: Rs 268 | The stock price shed 3 percent on October 7. The company recorded an 82 percent YoY jump in sales at Rs 166 crore for the quarter ended September. The developer has sold a total of nearly 80,000 sq ft carpet area during the quarter. For the half year, the company’s sales volume rose 106 percent to over 2.37 lakh sq ft, while collections saw a 44 percent rise at Rs 312 crore, the company said in a regulatory filing.
Indian Hume Pipe | CMP: Rs 177.10 | The stock price jumped 9 percent after the firm received a Letter of Acceptance for the work of Rs 194.03 crore from Maharashtra Jeevan Pradhikaran Division, Buldhana, Maharashtra, under Jal Jeevan Mission Project for Jalgaon Jamod 150 Villages Regional Rural Water Supply Scheme.
Dhruv Consultancy Services | CMP: Rs 60.05 | The scrip rose over 3 percent after the company in a joint venture with Arkitechno Consultants (India) received a consultancy services contract for a road project in Andhra Pradesh, from NHAI. They will provide consultancy services for the preparation of a detailed project report (DPR) for the augmentation of 4 laning to 6-lane partial access-controlled highway in Andhra Pradesh.
Datamatics Global Services | CMP: Rs 330.05 | The stock jumped 5 percent after the company along with Scan-Optics, a leader in intelligent data management and digital transformation, entered into a partnership to help organisations enhance the automation of business operations. They will offer enterprises with solutions such as document/digital conversion, intelligent document processing, digital record management and robotic process automation.
Equitas Small Finance Bank | CMP: Rs 50.90 | The scrip added close to 2 percent after the small finance bank clocked 20% year-on-year growth in provisional gross advances at Rs 22,802 crore for the quarter ended September FY23. Deposits also grew by 20% YoY to Rs 21,726 crore during the same quarter, while the CASA ratio improved to 48.13% in Q2FY23, up from 45.31% in the year-ago period, while the cost of funds declined to 6.25%, from 6.81% in the corresponding period last fiscal.
Sandip Das
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