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Tata Chemicals, IndiaMART, RBL Bank, Tech Mahindra, Garden Reach, JSW Holdings: Check top buzzing stocks of the day

Upstox
By Upstox News Desk

4 min read | Updated on October 21, 2024, 13:01 IST

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SUMMARY

Tata Chemicals stock was up over 10% at ₹1,197.50 apiece on the BSE amid renewed interest in Tata Sons IPO. As per news reports, the Reserve Bank of India has denied the Tata Sons’ request to get an exemption from listing. Separately, other reports claim that the company has not even applied for an exemption.

Stock list

INDIAMART
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RBLBANK
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TECHM
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GRSE
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At 12:47 pm, the S&P BSE SENSEX was trading at 81,050.17 points, down 174.58 points or 0.21%

At 12:47 pm, the S&P BSE SENSEX was trading at 81,050.17 points, down 174.58 points or 0.21%

Buzzing Stocks: The stock market continued to trade in the red in the afternoon deals on Monday, October 21. At 12:47 pm, the S&P BSE SENSEX was trading at 81,050.17 points, down 174.58 points or 0.21%, while the NSE NIFTY50 index was trading at 24,752.10 levels, down 101.95 points, or 0.41%. 
Here is a list of stocks that are buzzing in today's trade. 
Tejas Networks: Shares of the company were trading nearly 9% higher at ₹1295.95 apiece on the BSE. The Tata Group company on Friday reported a consolidated profit of ₹275.18 crore, against a loss of ₹12.64 crore in the year-ago period. 

Total revenue from operations came in at ₹2,811.26 crore against ₹396 crore in the year-ago period.

IndiaMART InterMESH Ltd: Shares of IndiaMART InterMESH were trading nearly 17% lower at ₹2,508 apiece on the BSE after, as per reports, Jefferies downgraded the stock. 

The brokerage notes that even though the company has reported in-line Q2 results, subscriber growth remains weak, leading to a moderation in collections growth to just 5% year-on-year, a key negative from the quarter.

RBL Bank: Shares of RBL Bank tumbled as much as 14% to ₹176.50 apiece on the BSE on Monday, October 21, after the private sector lender on Saturday reported a 24% decline in net profit for the September 2024 quarter (Q2 FY25) to ₹223 crore on asset quality challenges emanating from credit card and microlending books.
Kotak Mahindra Bank: Shares of Kotak Mahindra Bank on Monday tanked nearly 7% after its September quarter earnings failed to cheer investors. 

The stock was the biggest laggard among the BSE Sensex firms during the morning trade.

Kotak Mahindra Bank on Saturday posted 13% growth in the September quarter profit to ₹5,044 crore, helped by the performance of its subsidiaries.

ALSO READ | PNC Infratech shares tank 20%; here is what happened during the weekend
Tata Chemicals: Tata Chemicals stock was up over 10% at ₹1,197.50 apiece on the BSE amid renewed interest in Tata Sons IPO. 

As per news reports, the Reserve Bank of India has denied the Tata Sons’ request to get an exemption from listing. Separately, other reports claim that the company has not even applied to seek an exemption.

Garden Reach, Mazagon Dock: Shares of Garden Reach Shipbuilders were trading 3% higher on the BSE after the company announced that it had received a Letter of Intent (LoI) from the Ministry of Defence for an order with an approximate value of ₹491 crore.

Mazagon Dock Shipbuilders stock was up another 3.5% as the company's board will consider stock split and declaration of dividend this week. 

JSW Holdings: JSW Holdings was up over 16% to ₹10,940 apiece on the NSE. JSW Holdings is a non-banking financial company (NBFC) that forms the investment arm of the JSW Group. 
Tata Consumer Products: Shares of the company were trading over 7% lower after the company on Friday reported a marginal increase in its consolidated net profit to ₹367.21 crore in the second quarter ended on September 2024.

Its revenue from operations rose 12.87% to ₹4,214.45 crore during the quarter under review. It was at ₹3,733.78 crore in the year-ago period.

Total expenses of the TCPL, earlier known as Tata Global Beverages Limited (TGBL), stood at ₹3,836.18 crore, up 15.61% in the September quarter.

Bajaj Housing Finance: Shares were trading over 1.6% lower at ₹137 apiece on the BSE ahead of its Q2 results, due later in the day. 
Tech Mahindra: Tech Mahindra shares hit their 52-week high level of ₹1,761.30 apiece on the BSE after the company reported a 153.1% year-on-year jump to ₹1,250 crore in its consolidated net profit for the July-September quarter.

Revenue for Q2 FY25 came in at ₹13,313.2 crore, 3.49% higher than ₹12,863.9 crore in Q2 FY24. 

Seen sequentially, profit and revenue saw an ascent of 46.81% and 2.36%, respectively.

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