L&T rises on airport order win, Divi’s Labs’ profit declines in Q2 & more
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Benchmark indices closed higher for the third straight session
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In all, 45 of the NIFTY50 stocks closed in the green
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Brent crude oil futures are up 1.2% today, at $86 per barrel after Saudi Arabia & Russia reiterated their production cuts till the end of this year
Among the NIFTY sectoral indices, Metal (+1.3%) Oil & Gas (+1.2%) were the top gainers, while PSU bank (-1.0%) was the top loser.
What's Up
| Top gainers | Today's change |
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| Divi’s Labs | 3,522 ▲ 171 (+5.1%) |
| Eicher Motors | 3,517 ▲ 89 (+2.6%) |
| Hero MotoCorp | 3,169 ▲ 80 (+2.6%) |
What's Down
| Top losers | Today's change |
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| SBI | 573 ▼ 4.2 (-0.7%) |
| HUL | 2,496 ▼ 13 (-0.5%) |
| Cipla | 1,203 ▼ 3.1 (-0.2%) |
Market Sentiment
| India VIX | 11.1 ▲ 0.2 (+2.0%) |
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| NIFTY MIDCAP 100 | 39,937 ▲ 349 (+0.88%) |
| NIFTY SMALLCAP 100 | 13,144 ▲ 179 (+1.39%) |
| USD-INR | 83.2 ▲ 0.06 (+0.08%) |
Stock Buzz
⭐ L&T rises on airport order win
Shares of L&T surged 2% today following its announcement of a ‘large’ order win by its construction division. The project, awarded by GMR Visakhapatnam International Airport Limited, entails the engineering, procurement and construction of the greenfield Bhogapuram International Airport in Andhra Pradesh. L&T classifies orders valued between ₹2,500 to ₹5,000 crore as ‘large’.
⭐ Divi’s Labs’ profit declines in Q2
The pharmaceutical company reported a modest 3% year-on-year (YoY) increase in revenue to ₹1,909 crore. However, there was a significant 29% year-on-year decline in its net profit, which stood at ₹348 crore for the September quarter. Nonetheless, the company's shares closed 5% higher and it was the top gainer in the NIFTY50 today.
⭐ IEX soars on robust October volumes
Indian Energy Exchange (IEX) surged over 4% today after reporting strong October trading volumes. According to the company, it achieved a total electricity volume of 9,260 million units, marking a rise of 21% YoY. Additionally, it recorded an overall trading volume of 9,483 million units, reflecting an 18% YoY growth.
⭐ Zydus gets USFDA nod for diabetes drug
Zydus Lifesciences announced that it has received final approval from the United States Food and Drug Administration (USFDA) for Zituvimet, a drug designed to treat adult patients with Type-2 diabetes. Meanwhile, the company's shares ended flat, down 0.02%, today.
⭐ Man Industries surges on new orders
Shares of Man Industries hit a 52-week high during early trading and closed 8% higher. The company secured new orders for pipes worth approximately ₹380 crore. As of 6 November 2023, its total unexecuted order book stands at roughly ₹1,400 crore, to be completed within the next 6 months.
IPO Corner
⭐ The IPO of ESAF Small Finance Bank was subscribed 8.32 times on Day 2 of bidding. The IPO price band is fixed in the range of ₹57 to ₹60 per equity share. Tomorrow is the last day to apply for this IPO. ** Click here** to apply.
⭐ IPO of Protean eGov Technologies was fully subscribed on the first day with a total subscription of 1.08 times. The company collaborates with the government to create digital public infrastructure and citizen-centric e-governance solutions. The price band for the offer has been fixed at ₹752–₹792 per share. To apply for this IPO, click here.
⭐ Shares of Cello World made a strong debut today, listing at a premium of 28%. The company’s shares traded at ₹829 on the NSE, against the issue price of ₹648. The public issue of the leading player in the consumerware market was subscribed 38.9 times.
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