SENSEX, NIFTY rangebound; Ola Electric, Redington, SBI, Asian Paints among buzzing stocks

The Indian equity benchmarks were trading in a narrow range in noon deals in a highly volatile session on Thursday, November 6. Earlier in the day, the SENSEX fell as much as 488 points from the day's highest level and NIFTY50 index touched an intraday low of 25,520 after hitting high of 25,679.

As of 12:26 pm, the SENSEX was up 7 points at 83,452 and NIFTY50 index was down 51 points at 25,547 as gains in index heavyweights like Reliance Industries, Asian Paints, Mahindra & Mahindra, HDFC Bank and Ultratech Cement were offset with losses in ICICI Bank, Eternal, Power Grid, NTPC, Bajaj Finance, Bharat Electronics and Tata Steel.

Here are buzzing shares in Thursday's session:

Redington's net profit in the second quarter of current financial year rose 32% to ₹388 crore from ₹293 crore in the same period last year.

The company's revenue from operations advanced 17% to ₹29,076 crore as against ₹24,896 crore.

Redington's operational performance however witnessed a decline as its EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) also known as operating profit declined 15% to ₹389 crore and its EBITDA margin contracted by 50 basis points to 1.34%.

The Mumbai-based lender on Tuesday reported a net profit of ₹20,160 crore in second quarter of current financial year, marking an increase of 10% from ₹18,331 crore in the same period last financial year.

After earnings announcement global investment firms maintained positive stance on the stock. Morgan Stanley (MS) said that NII came in better than estimates and profit after tax came in 15% above estimates, while asset quality remained strong. The lender’s Liquidity Coverage Ratio (LCR) improved to 144% from 139%, and CET-1 ratio rose to 12.5%. MS raised its FY26-28 EPS estimates by 8-9%.

HSBC noted that healthy loan growth and stronger revenue trajectory were key positives. The global investment firm upgraded EPS forecasts by 6-9% for FY26-28, citing higher loan growth, margins, and fee income, and said SBI’s improved core PPoP trajectory justifies higher valuation multiples.

Nomura highlighted strong performance in NIMs and asset quality. It raised FY26 EPS by 6% (on one-offs) and FY27-28 estimates by 3-5%, expecting ROA/ROE of 1.1%/16% over FY27-28. Nomura increased its valuation multiple reflecting the stronger return outlook.

Asian Paints jumped as much as 5.8% to ₹2,631 on the NSE, while Berger Paints stock advanced as much as 3.22% to ₹554.80.

This is because, in its filing to stock exchanges on Wednesday, Grasim Industries announced that Rakshit Hargave, CEO, Birla Opus Paints, has resigned from the position with effect from November 1, 2025, to pursue career opportunities outside the company.

The filing added that Rakshit Hargave joined the company in November 2021 and has played a significant role at the Birla Opus start-up stage of the decorative paints and the initial scaling up of the business.

On July 26, 2023, the Mumbai-based diversified firm had announced the acquisition of 3.53% stake in RBL Bank as a treasury investment at a cost of ₹417 crore.

"In furtherance to above, we would like to inform you that the company has today sold its entire stake in RBL Bank for a consideration of ₹678 crore representing a 62.5% gain on the investment," M&M said in a regulatory filing.

Ola’s revenue from operations stood at ₹690 crore in Q2 FY26, declining 43% from ₹1,214 crore in Q2 FY25. The firm has recorded total deliveries of 52,666 vehicles in Q2 FY26.

The company’s EBITDA loss for the reporting quarter stood at ₹203 crore in contrast to ₹379 crore year-on-year (YoY).

During the quarter, Paytm's operating revenue rose 24% year-on-year (YoY) to ₹2,061 crore, driven by continued growth in its payments and financial services businesses.

The company reported a profit after tax (PAT) of ₹211 crore, before a one-time charge for full impairment of a ₹190 crore loan to our JV, First Games Technology Pvt Ltd.

Reported PAT stood at ₹21 crore. The result marks a significant improvement from the previous quarter, underscoring Paytm’s progress towards sustainable profitability.

This includes a $100-150 million impact on adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA), according to a regulatory filing.

The stock saw buying after the FMCG major reported a good set of numbers for the quarter ended September 30, 2024 (Q2 FY26).

The bakery food company on Wednesday reported a 23.23% rise in consolidated net profit to ₹655.06 crore for the September quarter, helped by stable commodity prices and cost optimisation efforts.

The company had posted a net profit of ₹531.55 crore in the July-September quarter a year ago, according to a regulatory filing by Britannia Industries.