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City Union Bank, Mazagon Dock, Unichem Labs, Paytm, Epack Durable, Gravita India: Check top buzzing stocks of the day

Upstox
By Upstox News Desk

4 min read | Updated on October 22, 2024, 13:51 IST

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SUMMARY

Shares of Epack Durable were locked in the upper circuit limit of 5% at ₹407.60 apiece on the BSE after the company announced a tie-up with the Chinese consumer electronics major Hisense for a manufacturing unit in India to make air conditioners and appliances for domestic as well as export markets.

Stock list

PAYTM
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EPACK
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GRAVITA
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UNICHEMLAB
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At 1:36 pm, the S&P BSE SENSEX was trading at 80,580.26 levels, down 571 points, or 0.70%.

At 1:36 pm, the S&P BSE SENSEX was trading at 80,580.26 levels, down 571 points, or 0.70%.

Buzzing Stocks today: The stock market was reeling under pressure in the afternoon trade on Tuesday, October 22. At 1:36 pm, the S&P BSE SENSEX was trading at 80,580.26 levels, down 571 points, or 0.70%, while the NSE NIFTY50 index was down 200 points, or 0.81%, at 24,581.25 levels. 
Here is a list of stocks that are buzzing in today's trade. 
City Union Bank: Shares of City Union Bank jumped as much as 14.7% to₹172.95 apiece on the BSE after the lender reported a net profit of ₹285.2 crore for the second quarter of FY25, showing a modest 1.6% growth compared to ₹280.6 crore in the corresponding quarter last year.

Net interest income (NII) for Q2 FY25 rose by 8.2%, reaching ₹582.5 crore, up from ₹538.4 crore in the same quarter last year.

The bank’s asset quality also improved. Gross non-performing assets (NPA) fell to 3.54%, down from 3.88% in Q1 FY25 and 3.99% in the March quarter.

Paytm: Shares of One 97 Communications, the parent company of Paytm, slipped nearly 8% after the company released its Q2 results. 

The reported a net profit of ₹928 crore for the quarter ended September 30, 2024 (Q2 FY25) against the loss of ₹839 crore in the previous quarter.

The company's net profit was aided by a one-time gain of ₹1,345 crore, which was due to the sale of the movie ticketing business to Zomato.

ALSO READ | Hyundai Motor ranks 5th among India's most valued automakers; check the top 5 list
Hyundai Motor India: Shares of Hyundai Motor India made a muted debut at the bourses today. On the BSE, the stock debuted at a discount of 1.47% at ₹1,931 against the issue price of ₹1,960.

On the NSE, the stock debuted at ₹1,934, a discount of 1.32%.

Ambuja Cements, Orient Cement: Ambuja Cements said on Tuesday, October 22, in an exchange filing that the company will acquire Orient Cement Ltd. (OCL) at an equity value of ₹8,100 crore. 

Last seen, Ambuja Cements shares were trading over 1.5% lower at ₹563.10 apiece on the BSE, while those of Orient Cement were trading 1.48% lower at ₹347 per share. 

Amber Enterprises: Shares of Amber Enterprises India were trading over 13% higher at ₹5,538.95 apiece on the BSE ahead of its Q2 results announcement. 
Gravita India: The stock was down over 12.6% at ₹2,091.20 on the BSE as the company's net profit rose 24.44% YoY to ₹72 crore in the quarter ended September 2024. Sales rose 10.91% to ₹927.42 crore in the quarter ended September 2024, as per news reports.
Cyient DLM: Shares of Cyient DLM were trading 4.65% lower at ₹666.65 apiece on the BSE, a day after the company reported its Q2 results. 

Cyient DLM’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 34.4% YoY to ₹31.6 crore. The EBITDA margins during the quarter expanded by 5 basis points YoY to 8.1%. Meanwhile, the net profit margin contracted by 105 basis points YoY to 4%.

Mazagon Dock: Shares of Mazagon Dock Shipbuilders tanked over 9% to ₹4,239 apiece on the BSE ahead of its board meeting today on consideration of stock split and declaration of dividend.
Epack Durable: Shares of Epack Durable were locked in the upper circuit limit of 5% at ₹407.60 apiece on the BSE after the company announced a tie-up with the Chinese consumer electronics major Hisense for a manufacturing unit in India to make air conditioners and appliances for domestic as well as export markets. 
Unichem Laboratories: Shares of Unichem Laboratories hit a record high of Rs 876.35 apiece on the BSE, up 15%. 

On September 30, Unichem Pharmaceuticals (USA) Inc., a wholly-owned subsidiary of Unichem, entered into agreements with Bayshore Pharmaceuticals LLC, USA, a wholly-owned step-down subsidiary of Ipca, to purchase the USA generic formulations marketing and distribution business of Bayshore USA as a going concern.

ALSO READ | Hyundai Motor India makes a flat debut; what is the road ahead from here?
RVNL: Shares of Rail Vikas Nigam (RVNL) were trading over 4% lower at ₹446.20 apiece on the BSE after the company announced it had incorporated a wholly owned subsidiary company ‘Company Rail Vikas Nigam Ltd. (One Partner)’ in Saudi Arabia.

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