All the sectoral indices ended in the red with auto, metal, IT, oil and gas and realty indices down 1-3 percent. The BSE midcap and smallcap indices fell over one percent each.
Indian benchmark indices ended lower for the third consecutive session with the Nifty finishing below the 17,000 level. At close, the Sensex was down 843.79 points or 1.46 percent at 57,147.32, and the Nifty was down 257.50 points or 1.49 percent at 16,983.50.
Tata Consultancy Services | CMP: Rs 3064 | The stock was down over a percent on October 11. Tata Consultancy Services (TCS) on October 10 reported a consolidated net profit of Rs 10,465 crore for the quarter ended September 2022, registering an 8.41 percent year-on-year (YoY) growth from Rs 9,653 crore logged in a year back. TCS said the revenue from operations grew by 18.01 percent on-year to Rs 55,309 crore, compared to Rs 46,867 crore in the same quarter last year. Sequentially, revenue grew 4.83 percent.
Panacea Biotec | CMP: Rs 158.55 | The stock surged over 18 percent after the company announced that it had bagged a $ 127.3-million contract. The long-term order worth over Rs 1,040 crore came from UNICEF and Pan American Health Organisation for the supply of its pentavalent vaccine Easyfive-TT.
Inox Wind | CMP: Rs 152.15 | The stock price shed over 2 percent amid weak market conditions. Inox Wind’s subsidiary Inox Green Energy Services sold its entire equity shareholding held in Wind One Renergy, Wind Three Renergy and Wind Five Renergy, to Adani Green Energy. All three special purpose vehicles successfully commissioned 50 MW each of SECI Tranche 1 in 2019. Inox Wind had won 250 MW under the Tranche 1 of Solar Energy Corporation of India’s (SECI -1) bids for wind power projects at Dayapar in Gujarat, at a fixed tariff of Rs 3.46 per unit for 25 years for sale to PTC India.
Automotive Axles | CMP: Rs 1,995 | The stock ended marginally in the red on October 11. Cummins Inc made an open offer to the shareholders of Automotive Axles to acquire up to 3,929,114 fully paid-up equity shares with a face value of Rs 10 each, representing 26 percent of the voting share capital of the target company on a fully diluted basis, as on the 10th working day from the closure of tendering period.
India Cements | CMP: Rs 242.95 | The share price tumbled over 11 percent on October 11. The company announced that it has entered into a pact with JSW Cement to divest its entire stake in Springway Mining Pvt Ltd (SMPL) for nearly Rs 477 crore.
GM Breweries | CMP: Rs 595.65 | The scrip slipped over 6 percent amid weak market conditions. The company reported a slight decline in the margin on a year-on-year basis; it fell to 22 percent, down from 25 percent in the year-ago period. However, on a month-on-month basis, the margin rose from 15 percent. The company reported revenue growth of 22 percent on a year-on-year basis for the quarter under review. The operating profit for the quarter, or EBITDA — the company’s earnings before tax, depreciation, and amortization — rose 42 percent quarter-on-quarter to Rs 31 crore. The EBITDA rose six percent on a year-on-year basis.
JSW Energy | CMP: Rs 325 | The stock price dipped over 5 percent on October 11. JSW Neo Energy Limited, a wholly owned subsidiary of JSW Energy Limited, has received a Letter of Intent from the Government of Himachal Pradesh for the allotment of 126 MW Chhatru Hydro Electric Power Plant on BOOT basis, with an operational life of 40 years.
ITD Cementation | CMP: Rs 114.65 | The share ended in the green on October 11. ITD Cementation India secured orders worth Rs 1,755 crore, including the construction of the West Container Terminal in the Port of Colombo, construction of Berth and Yard facilities at Dhamra Port in Odisha and piling and civil work for the Coke Oven Project at Hazira plant in Gujarat.
Brigade Enterprises | CMP: Rs 495.10 | The stock price fell over 3 percent on October 11. The company in a filing to the exchanges said that MR Jaishankar will step down as MD of the company from October 11, 2022, and will continue as executive chairman of the firm.
Suzlon Energy | CMP: Rs 7.10 | The scrip declined over 7 percent on October 11. Suzlon Energy will think of divesting its non-core assets after the scheduled rights issue, CFO Himanshu Mody said on October 11. The Rs 1,200-crore rights issue of the wind turbine maker, which suffered the sudden loss of its founder-chairman Tulsi Tanti on October 1, opened on October 11 and will close on October 20.
Sandip Das
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