Stock market today: The equity benchmark indices were trading flat with a negative bias on Friday, November 8, amid selling in index heavyweights RIL, ICICI Bank, and Asian Paints.
At 1:30 pm, the BSE SENSEX was trading at 79,520.90 levels, down 21 points, or 0.03% while the NSE's NIFTY50 index was trading at 24,175 points, down 24 points, or 0.1%.
Here is a list of stocks that are buzzing in today's trade.
RIL: Shares of
Reliance Industries (RIL) were trading over 1.5% lower at ₹1,285.60 apiece on the BSE. The conglomerate has experienced a major drop in market capitalisation since its peak back in July as India’s most valuable firm, shedding almost $50 billion (₹4.2 lakh crore).
The decline has been due to the company’s weak earnings performance and economic slowdown, Bloomberg reported.
ITI Ltd: Shares of ITI Ltd rallied as much as 13.59% to ₹302.90 apiece on the BSE after the company said on Thursday that its consortium partner has emerged as L1 in the BharatNet Phase-3 Project in the states of Himachal Pradesh for Package No. 8, in West Bengal, and Andaman & Nicobar Islands for Package No. 9 with a total order value of ₹3,022 crore.
SAIL: Shares of Steel Authority of India Limited (SAIL), one of the leading steel producers in India, slipped as much as 6.73% to ₹115 apiece on the BSE in the morning trade on Friday, November 8, a day after the company reported a subdued set of numbers for the September quarter (Q2 FY25).
However, the stock recovered later, and last seen, it was trading at ₹119 on the BSE, down 3.49%.
Indian Hotel Company: Shares of Indian Hotels Company (IHCL) jumped as much as 6.86% to hit a record high of ₹730.50 apiece on the BSE in the early trade on Friday, November 8, on solid quarterly numbers posted by the Tata Group company for the July-September period.
Emcure Pharmaceuticals: Shares of pharma company Emcure Pharmaceuticals jumped nearly 6% on Friday, November 8, after the company posted robust financial results for the quarter ended September 2024.
The company's consolidated net profit increased 38.2% to ₹201.5 crore in the second quarter of FY25. In the year-ago period, the post-tax profit stood at ₹145.8 crore.
However, at the time of writing this report, the stock was trading 2% lower at ₹1,409.80 on the BSE.
Avalon Technologies: Avalon Technologies shares hit a 52-week high of ₹849.45 apiece on the BSE. The company's consolidated net profit surged 140.44% to ₹17.48 crore on a 37.5% increase in revenue from operations to ₹275.01 crore in Q2 FY25 over Q2 FY24.
EBITDA soared 139.6% to ₹30.1 crore during the quarter as compared with ₹12.6 crore in Q2 FY24. EBITDA margin expanded to 11% in Q2 FY25 as against 6.3% in Q2 FY24.
MRF: Shares of MRF were trading over 2% lower at ₹1,18,452.60 apiece on the BSE as the company reported a 20.4% year-on-year decline in net profit for the September quarter, posting ₹455 crore, compared to ₹572 crore in the same period last year. The company’s revenue for the quarter stood at ₹6,760 crore, reflecting an 11.1% increase from ₹6,087.6 crore in the previous year.
Ashok Leyland: The stock was trading 1% higher at ₹217.90 on the BSE. The company reported a 37% YoY rise in net profit at ₹770 crore for the quarter ended September 30, 2024. Its revenue from operations fell 9% to ₹8,769 crore in Q2FY25 as against ₹9,638 crore in Q2FY24.
GMM Pfaudler: Shares of GMM Pfaudler were trading over 6.5% lower at ₹1,285.25 apiece on the BSE as the company's consolidated net profit fell 74.72% to ₹17.26 crore in Q2 FY25 as against ₹68.30 crore posted in Q2 FY24.
SBI: Shares of
State Bank of India (SBI) were trading half a percent lower at ₹854.95 apiece on the BSE ahead of its Q2 results declaration. As per news reports, SBI will likely report a double-digit growth in both profit and net interest income (NII) due to healthy loan and deposit growth in the second quarter.
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