The Sensex and Nifty closed in the red on October 15, dragged by weak performances from O&G and banking stocks. Here are some stocks that moved the most in trade today.
1) Sensex and Nifty remained in the red during the last hour of trade on October 15, dragged down by oil & gas, automobile, and metal stocks. Investor sentiment took a hit after the release of a hotter-than-expected inflation report on October 14 dampened hopes of a rate cut by the Reserve Bank of India in December.
2) Angel One | CMP: Rs 3,210 | Shares of Angel One zoomed around 8 percent as investors cheered the discount broker's strong set of earnings for the quarter ended September 2024. The company's net profit surged 39 percent on-year to Rs 423 crore and revenue went up by 45 percent YoY to Rs 1,515 crore during this period.
3) Ramkrishna Forgings | CMP: Rs 1,048 | International brokerage UBS initiated coverage on small-cap Ramkrishna Forgings, seeing a bullish outlook on the company and a 46% upside. RK Forgings has a low single-digit share in the global market, which indicates the company can have a long runway for growth, said UBS.
4) Sunteck Realty | CMP: Rs 596.8 |Shares of Sunteck Realty surged more than 7 percent after the real estate major posted a healthy Q2FY25 performance, clocking Rs 520 crore in pre-sales, up 33 percent on-year as demand momentum continued in the Mumbai Metropolitan Region (MMR) market.
5) SpiceJet | CMP: Rs 66.4 | Shares of troubled low-budget carrier SpiceJet gained as much as 3 percent after the company informed that it has reached a settlement with two more lessors for an aggregated sum of $5 million. The DGCA also removed SpiceJet from enhanced surveillance.
6) JSW Infrastructure | CMP: Rs 323.3 | JSW Infrastructure., the newly listed entity of the Sajjan Jindal-led JSW Group, is trading with gains of as much as 3%. Brokerage firm Nuvama Institutional Equities has initiated coverage on the stock with a 'Buy' recommendation and a price target of Rs 390 per share, indicating a 22 percent upside.
7) Wipro | CMP: Rs 532.7| Shares of Wipro fell on profit booking, as investors offloaded their holdings. Additionally, Wipro is expected to report its second-quarter earnings on October 17. The IT player is likely to clock a sequential revenue growth of around 1.2 percent, gaining from new deal ramp-ups, brokerages said in their pre-earnings note. However, some estimate that Wipro’s revenue might fall 3% on a YoY basis.
8) DB Corp | CMP: Rs 315.5 | DB Corp reported a 17.6 percent year-on-year increase in net profit, reaching Rs 82.6 crore, while revenue rose 4.6 percent to Rs 559 crore for the quarter ended September. Despite this, shares fell almost 7 percent.
9) HDFC Life | CMP: Rs 714.1 | HDFC Life Q2 FY25 net profit jumped 15 percent year-on-year to Rs 433 crore, beating Street expectations, led by healthy premium collections and investment income. The net premium income during the July-September 2024 period increased 12% year-on-year. However, the Street was disappointed in the results, causing the stock to tumble almost 4 percent.
10) Oil India | CMP: Rs 557.7| The 4 percent fall in crude prices will have a negative bearing on oil drilling stocks like Oil India as it squeezes their profit margins. This is because the price of refined products may not drop as quickly or proportionately and hence, refineries holding inventories bought at higher prices may face inventory losses as the value of their stock decreases.
11) IEX | CMP: Rs 191.9 | Shares of the Indian Energy Exchange extended losses from the previous session, falling as much as 3?ter fears of market coupling, which has been a major overhang on the stock, resurfaced yet again. The Power Secretary Pankaj Agarwal said that the work on the power coupling mechanism is in progress and that the government remains committed to the same.
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