Reliance Power, paint stocks, DMart, Reliance Infra: Check top buzzing stocks of the day

Stock market today: Domestic stocks were trading in the red in the afternoon deals. The S&P BSE SENSEX was trading at 81,928.73, down 568.37 points, or 0.69%. The NSE's NIFTY50 index was trading at 25,193.30, down 56.80 points, or 0.22%. 

Here is a list of buzzing stocks of the day. 

Avenue Supermarts: Shares of the DMart chain operator were trading 3% lower at ₹4,790 apiece on the BSE after the company released its business update for the quarter ended September 30, 2024. The company reported revenue at ₹14,050 crore, up 14% from the corresponding quarter of the previous fiscal. The number of stores stood at 377 during the period under preview.

Vedanta: Shares of the company were trading flat with a positive bias after the company released its business update for the quarter ended September 30, 2024 (Q2 FY25). The company reported its highest-ever quarterly and half-yearly aluminium production. It recorded half-yearly alumina production of 1,039 kt, up 21% year-on-year, and aluminium production of 1,205 kt, up 3% year-on-year in the first half, thanks to operational efficiencies.

HDFC Bank: Shares were down over 0.5% lower on the BSE after the lender on Friday, October 4, released its business update for the quarter ended September 30, 2024 (Q2 FY25). The private sector bank said its advances under management (advances grossing up for inter-bank participation certificates, bills rediscounted, and securitisation/aassignment) were ₹26,335 billion as of September 30, 2024, a growth of around 8.0% over ₹ 24,374 billion as of September 30, 2023, and a growth of around 2.3% over ₹25,750 billion as of June 30, 2024. 

Info Edge (India) Ltd (Naukri): The scrip scaled to a fresh 52-week high of ₹8,282.95 after soaring up 1.97% on Friday’s trade with the market-cap reaching ₹1,07,600 crore mark. The company’s management is optimistic about the growth, betting on its flagship business, Naukri.com, which recorded near double-digit growth in Q1, and management expects to sustain the growth rate in the coming period.

Reliance Power: After scaling 5% upper circuits for multiple sessions, the stock hit a 5% lower circuit today. Shares were frozen at ₹50.97 apiece on the BSE. The company's board of directors on Thursday approved a proposal to raise up to $500 million (about ₹4,198 crore) through issuance of bonds. The board also approved an Employee Stock Option Scheme (ESOS) for all employees of the company, the company said in a regulatory filing.

Netweb Technologies: Shares of the company were trading over 7% higher at ₹2,568.55 apiece on the BSE. Last month, Beetel Teletech said it has partnered with Netweb Technologies India to distribute high-end computing solutions across India. The partnership will leverage Beetel's extensive distribution network to enhance technological infrastructure across sectors like IT, entertainment, BFSI, data centres, and government entities.

Reliance Infrastructure: Shares of the company were trading over 6% lower at ₹306.25 apiece on the BSE. The company on Wednesday announced its foray into Bhutan and said it will set up 1,270 megawatt solar and hydroelectric projects in the Himalayan Kingdom.

Paint stocks: Stocks such as Asian Paints, Kansai Nerolac, and Indigo Paints were trading in the red due to a sharp rise in crude oil prices. Crude oil is one of the key raw materials of the paint companies; hence, a rise in raw material prices will impact firms' profitability; hence the fall.