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Market News

Spandana Sphoorty, Syrma SGS, Gillette India, Jio Financial Services, Federal Bank: Check top buzzing stocks of the day

Upstox
By Upstox News Desk

4 min read | Updated on October 29, 2024, 12:38 IST

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SUMMARY

At 12:26 pm, the S&P BSE SENSEX was trading at 79,549.87 levels, down 455.17 points, or 0.57%, while the NSE's NIFTY50 index was trading at 24,289.35, down 50 points, or 0.2%. 

Stock list

JIOFIN
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FEDERALBNK
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SYRMA
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BHARTIARTL
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Shares of Gillette India were trading over 9% higher at ₹9,350 apiece on the BSE

Shares of Gillette India were trading over 9% higher at ₹9,350 apiece on the BSE

Buzzing Stocks: The domestic equity market was trading deep in the red in the noon deals on Tuesday, October 29. 

At 12:26 pm, the S&P BSE SENSEX was trading at 79,549.87 levels, down 455.17 points, or 0.57%, while the NSE's NIFTY50 index was trading at 24,289.35, down 50 points, or 0.2%. 

Here is a list of stocks that are buzzing in today's trade. 
Spandana Sphoorty: Shares of Spandana Sphoorty Financial tumbled as much as 16% to ₹386.10 apiece on the BSE a day after the company declared its September quarter earnings. 

The microfinance lender reported a consolidated loss of ₹216 crore for the quarter under review on multi-fold rise in provisions for stressed loans.

The impairment charge on financial instruments for the quarter was ₹516 crore, which is significantly higher as compared with the impairment charge of ₹90 crore recorded in the same period last year, as per news reports. 

Jio Financial Services: Shares of Jio Financial Services were trading nearly 2.7% higher at ₹325.20 apiece on the BSE after the company informed stock exchanges that two companies—JJio BlackRock Asset Management and Jio BlackRock Trustee—have been incorporated on October 28, 2024, to carry on the primary business of mutual funds.
Tata Technologies: The stock was trading nearly 1% lower at ₹990.80 on the BSE. The company on Monday reported a 1.85% decline in consolidated profit after tax at ₹157.41 crore in the first quarter ended September 30, 2024.

Consolidated revenue from operations in the quarter under review stood at ₹1,296.45 crore as against ₹1,269.17 crore in the year-ago period, it added.

In a separate filing, the company said it is collaborating with Air India to transform the latter's aircraft interiors for delivering an enhanced travel experience.

Gillette India: Shares of Gillette India were trading over 9% higher at ₹9,350 apiece on the BSE after the company reported an encouraging set of numbers for the September quarter. 

Gillette India reported a nearly 44% increase in profit, reaching ₹133 crore ($15.8 million), up from ₹92.69 crore a year earlier. This growth was fueled by strong demand for its grooming products, including razors and shaving creams.

Federal Bank: The stock was trading over 7.5% higher at ₹198.70 on the BSE as the company on Monday posted a 10.79% year-on-year (YoY) rise in net profit to ₹1,056 crore in Q2FY25. The bank’s net interest income for the quarter grew by 15% YoY to ₹2,367 crore. 

The bank reported improvement in asset quality, with gross non-performing assets (GNPA) coming down to 2.09% from 2.26% in the corresponding period last year. The net non-performing assets (NNPA) stood at 0.57%, which is lower than 0.64% in the same period last year.

Senco Gold: Shares of Senco Gold, one of the leading jewellery retail chains in India, took a heavy beating in the opening deals on Tuesday, October 29, the day when people all over India and even beyond are celebrating Dhanteras—the first day of Diwali.

The stock of Senco Gold tumbled as much as 19% to hit a low of ₹981.30 against the previous close of ₹1,213 on the BSE. 

Bharti Airtel: The stock was trading over 2% lower at ₹1,626.80 on the BSE, a day after India's second largest telecom operator announced earnings for the second quarter of the financial year 2024-25 (FY 25).
Bharti Airtel reported a 168% increase in its consolidated net profit to ₹3,593.2 crore in the latest July-September quarter, compared to ₹1,340.7 crore in the year-ago period. Sequentially, the post-tax profit declined 13.6%.

The profit after tax (PAT) missed the street estimates.

ALSO READ | Senco Gold shares crash up to 19% on Dhanteras day; what's weighing on sentiment?
Syrma SGS Technology: The stock was trading over 12% higher at ₹485.50 on the BSE. The company reported a revenue of ₹833 crore in the July-September quarter (Q2 FY25). Its margins came in at 8.9% and profit after tax at ₹39.6 crore. Following a dip in margins during Q1 due to heightened consumer segment contributions, Syrma SGS has now shifted towards a more balanced sales mix, which is expected to support these targets.
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