Indian benchmark indices snapped a seven-day winning streak to ended lower on October 25. At close, the Sensex was down 287.70 points or 0.48% at 59,543.96 and the Nifty was down 74.50 points or 0.42% at 17,656.30.
Vodafone Idea | CMP: Rs 8.60 | The stock was down 1.2 percent after the company's board on October 21 approved a plan to sell Rs 1,600 crore worth of convertible bonds to ATC Telecom Infrastructure. The funds will be used to pay some of the pending dues to the tower operator.
MCX | CMP: Rs 1,488.65 | The stock gained almost 9 percent after the company reported a stellar September quarter, attracting investors. The company said its net profit increased by 94 percent YoY to Rs 63.27 crore. Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the quarter increased by 68 percent to Rs 83.84 crore.
Nykaa | CMP: Rs 1,100 | Share price of FSN E-Commerce Ventures, the parent of Nykaa, fell 2.9 percent to drop below its initial public offering price of Rs 1,125. Pre-IPO investors' lock-in expires on November 10. JM Financial is of the view that around 67 percent or 31.9 crore shares are likely to open for trade on the expiry day.
RIL | CMP: Rs 2441.80 | The share price of oil-to-telecom major Reliance Industries dropped 1.5 percent. On October 21, the company reported a marginal drop in consolidated net profit at Rs 13,656 crore for the quarter ended September 30, 2022 as against Rs 13,680 crore in the year-ago quarter. HSBC has a "hold" call on the stock, with the target cut to Rs 2,500. "We cut refining margin assumptions, resulting in FY23-25 estimate declining 3-7 percent," the brokerage noted. (Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
JSW Steel | CMP: Rs 644.30 | The stock gained 2.3 percent despite the company posting a loss of Rs 915 crore in Q2FY23. The company expects to stick to its volume guidance of 24-25 million tonnes for the financial year due to increased domestic market share. The management also expects net debt to be brought down by Rs 5,000 crore in the next two quarters.
Vodafone Idea | CMP: Rs 8.60 | The stock was down 1.2 percent after the company's board on October 21 approved a plan to sell Rs 1,600 crore worth of convertible bonds to ATC Telecom Infrastructure. The funds will be used to pay some of the pending dues to the tower operator.
MCX | CMP: Rs 1,488.65 | The stock gained almost 9 percent after the company reported a stellar September quarter, attracting investors. The company said its net profit increased by 94 percent YoY to Rs 63.27 crore. Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the quarter increased by 68 percent to Rs 83.84 crore.
Nykaa | CMP: Rs 1,100 | Share price of FSN E-Commerce Ventures, the parent of Nykaa, fell 2.9 percent to drop below its initial public offering price of Rs 1,125. Pre-IPO investors' lock-in expires on November 10. JM Financial is of the view that around 67 percent or 31.9 crore shares are likely to open for trade on the expiry day.
RIL | CMP: Rs 2441.80 | The share price of oil-to-telecom major Reliance Industries dropped 1.5 percent. On October 21, the company reported a marginal drop in consolidated net profit at Rs 13,656 crore for the quarter ended September 30, 2022 as against Rs 13,680 crore in the year-ago quarter. HSBC has a "hold" call on the stock, with the target cut to Rs 2,500. "We cut refining margin assumptions, resulting in FY23-25 estimate declining 3-7 percent," the brokerage noted. (Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
JSW Steel | CMP: Rs 644.30 | The stock gained 2.3 percent despite the company posting a loss of Rs 915 crore in Q2FY23. The company expects to stick to its volume guidance of 24-25 million tonnes for the financial year due to increased domestic market share. The management also expects net debt to be brought down by Rs 5,000 crore in the next two quarters.
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