M&M Q2 profit beats estimate, HAL shares rise & more

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NIFTY50: 19,425 ▲ 30 (+0.1%) 
SENSEX:  64,904 ▲ 72 (+0.1%)

  • Benchmark indices ended marginally higher after a volatile trading session
  • Among the NIFTY50 stocks, 30 closed in the green
  • India’s industrial growth slows to three-month low of 5.8% in September

Among the NIFTY sectoral indices, Metal (+0.7%) and Oil & Gas (+0.6%) surged the most while Media (-1.2%) and Auto (-0.4%) were the top losers.

What's Up

Top gainers Today's change
242 ▲ 4.5 (+1.9%)
ONGC 195 ▲ 3.2 (+1.6%)
Tata Consumer
914 ▲ 11.5 (+1.2%)

What's Down

Top losers Today's change
Hero MotoCorp
3,108 ▼ 65 (-2.0%)
M&M 1,523 ▼ 28 (-1.8%)
HCL Tech
1,256 ▼ 11.5 (-0.9%)

Market Sentiment

India VIX  11.11 ▲ 0.12 (+1.1%)
NIFTY MIDCAP 100  40,733 ▲ 195 (+0.4%)
NIFTY SMALLCAP 100  13,365 62 (+0.4%)
 83.29 ▼ 0.05 (-0.06%)

Stock Buzz

M&M Q2 profit beats street estimate

The auto major’s Q2 net profit rose 67% year-on-year (YoY) to ₹3,452 crore in the September quarter. This was higher than the street estimate of ₹2,900 crore. The revenue also increased by 16% to ₹24,310 crore. Nonetheless, M&M shares closed 1.8% lower today.

Hindalco Q2 profit jumps

The company reported a 54% YoY rise in net profit to ₹847 crore during the September quarter. Meanwhile, its revenue from operations stood at ₹20,676 crore, up 12.5% YoY. Shares of the aluminium and copper maker closed 0.6% lower today.

Hindustan Aeronautics rises on new joint venture

Shares of the aircraft and helicopter maker closed 1.3% higher today. This was after the company announced that it has incorporated a new joint venture (JV) company with Safran Helicopter Engines. This new JV will carry out the design, development, certification, sale and support of helicopter engines.

Zydus and Torrent Pharma sign drug co-marketing deal

Shares of Zydus Lifesciences rose 1.2%, while those of Torrent Pharma closed 0.3% higher today. This was after the two companies signed a new licensing agreement for co-marketing the Saroglitazar, which is a drug used in treating liver diseases in India.

Antony Waste gains after strong Q2 numbers

Shares of the solid waste management company rose more than 13% and hit a new 52-week high of ₹474 per share. This  came after the company's Q2 net profit rose by 15% YoY to ₹31.5 crore. During the same period, its revenue from operations stood at ₹230.3 crore, up 13% YoY. Shares of the company have gained over 47% so far in 2023.

IPO Corner

⭐ ESAF Small Finance Bank listed at ₹71 per share today, 18% higher than the issue price of ₹60 per share.

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