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Bharti Airtel posts mixed Q2 results, Cello World IPO gets fully subscribed & more

NIFTY50: 19,079 ▼ 61 (-0.3%)
SENSEX: 63,874 ▼ 237 (-0.3%)


Among the NIFTY sectoral indices, Realty (+1.2%) and Media (+0.9%) were the top gainers while Auto (-0.6%) and Pharma (-0.6%) were the top losers.

What's Up

Top gainers Today's change
SBI Life
1,369 ▲ 43 (+3.3%)
Titan 3,194 ▲ 77 (+2.4%)
HDFC Life
620 ▲ 13 (+2.1%)

What's Down

Top losers Today's change
Sun Pharma
1,085 ▼ 30 (-2.7%)
M&M 1,464 ▼ 33 (-2.2%)
Eicher Motors
3,296 ▼ 61 (-1.8%)

Market Sentiment

India VIX 11.8 ▲ 0.3 (+2.9%)
NIFTY MIDCAP 100 38,876 ▲ 141  (+0.37%)
NIFTY SMALLCAP 100 12,649 ▼ 8 (-0.06%)
USD-INR
83.26 ▲ 0.01 (+0.02%)

Stock Buzz


⭐Bharti Airtel’s Q2 revenue rises, profit falls

Bharti Airtel posted its September quarter results today. While the telco’s revenue saw a rise of 7.2% YoY at ₹37,044 crore, the consolidated net profit was down 29% YoY at ₹2,093 crore. Its home business saw sustained growth with the highest-ever customer net additions of 4.71 lakh in Q2. Further, the mobile ARPU (average revenue per user) increased to ₹203 in Q2FY24 vs ₹190 in Q2FY23.

⭐ Bank of India gains on lending rate hike

Bank of India’s shares climbed over 2% in early trade today as the bank announced a marginal cost of fund lending rate (MCLR) change effective from November 1. While the overnight rate stays put, the one month to 3 years rates were increased by 5 basis points. Bank of India’s Q2FY24 results are still awaited.

Tata Motors rises on Singur plant victory

Shares of Tata Motors jumped 2% intraday. This came after the company won an arbitral award of ₹766 crore plus interest for the defunct Singur plant. The amount will be paid by the West Bengal Industrial Development Corporation Limited to compensate for the company’s investment in the now scrapped plant that was originally intended for the production of Tata Nano.

VIP slips after Q2 profits decline

VIP Industries consolidated net profit fell 69% YoY to ₹13.2 crore during the September quarter. Meanwhile, its revenue from operations rose 6.1% to ₹546 crore. The company’s shares closed 0.13% lower today.

GE T&D gains on major order

Leading energy player GE T&D India’s shares soared almost 5% after securing orders worth ₹500 crore from Power Grid Corporation of India. These orders involve supplying essential equipment for renewable energy integration and power transmission projects, with deliveries from 2024 to 2025.


IPO Corner


⭐ The Honasa Consumer (Mamaearth) IPO was subscribed 12% on the first day of bidding. The company is well known for its beauty and personal care products under several brands. The IPO will close on 2 November. To know more and apply for this IPO, click here.

⭐ Cello World IPO received strong response from investors, with an overall subscription of 1.4 times on the second day of bidding. The company is a leading manufacturer of consumer products  such as writing instruments and stationery, moulded furniture, consumer houseware and related products. The IPO will close on 1 November. To know more and apply for this IPO, click here.


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Categories: Market Recap