Tata Teleservices, KEI Industries, IGIL shares spurt amid spike in volumes

The Indian equity benchmarks were trading with a negative bias in noon deals on Thursday, October 22. The SENSEX fell as much as 705 points and NIFTY50 index touched an intraday low of 22,554 dragged down by losses in index heavyweights like HDFC Bank, Reliance Industries, Infosys, Tata Consultancy Services, ITC, Mahindra & Mahindra, HCL Technologies and Tech Mahindra.

As of 12:22 pm, the SENSEX was down 587 points at 73,123 and NIFTY50 index dropped 220 points to 22,593.

Trading volume jumped by 82 times to 7.44 crore shares compared with an average volume of 9.08 lakh shares on the National Stock Exchange (NSE).

As many as 22.43 lakh shares changed hands on the BSE compared with an average of 1.87 lakh shares traded daily in the past two weeks.

The company post market hours on Wednesday reported a net profit of ₹262 crore, marking an increase of 29% from ₹203.5 crore in the same period last year.

Its revenue from operations advanced 39% to ₹3,776 crore from ₹2,726 crore.

Trading volume in the stock jumped eight times to 22.36 lakh shares compared with an average volume of 2.78 lakh shares on the NSE.

Trading volume in the stock jumped eight times to 50 lakh shares compared with an average volume of 6.23 lakh shares.

As many as 2.85 lakh shares changed hands on the BSE compared with a two-week average volume of 79,000 shares on the BSE.

M&M Financial Services post market hours on Wednesday reported a standalone net profit of ₹882 crore at the end of the second quarter of financial year, marking an increase of 55% from ₹569 crore in the same period last year.

Its total revenue from operations advanced 15% to ₹5,164 crore at the end of September quarter from ₹4,473 crore a year earlier.

The company said that it earned ₹4,732.46 crore from interest income, up 13% from ₹4,177.92 crore in the year-ago period. Its dividend income rose 49% to ₹79.89, rental income advanced 17% to ₹48.68 and income from fees, charges and commission surged by 40% to ₹275 crore at the end of the second quarter.

Trading volume jumped by 5.6 times to 93.72 lakh shares compared with an average volume of 16.71 lakh shares.

Trading volume on the NSE jumped 4.2 times to 11.57 lakh shares compared with an average volume of 2.74 lakh shares on the NSE.

A total of 82,000 shares changed hands on the BSE compared with an average of 40,000 shares traded daily in the past two weeks.