Nifty, Sensex Trying to Recover Some Lost Ground – Monday Closing Report
Moneylife Digital Team 28 October 2024
On Monday, 2579 stocks advanced, 1412 declined and 162 remained unchanged, with an advance decline ratio of 1.83x on the Bombay Stock Exchange (BSE), indicating positive closing of stocks in broader markets. The trend of the major indices on Monday’s trading is given in the table below. 
 
 
On NSE, 28 securities advanced and closed at a new 52-week high whereas 129 securities sank to close at their new 52-week lows.  In sectoral indices, all indices ended green, Nifty PSU bank, Nifty Metal and Nifty Media were among the biggest gainers.
 
NBCC (India) (+6.14%) bagged work orders worth Rs1,726.00 crore from Government of Goa for redevelopment of Junta House, 18th June Road, Panjim; redevelopment of Govt. Garage, MG Road, Panjim; Construction of Administrative Building at Porvarim; redevelopment of Circuit House, Panjim; redevelopment of Govt. Quarters, St. Inez and for redevelopment of Mini Convention Centre at Tiswadi, patto. 
 
Knowledge Marine & Engineering Works (KMEW) (+6.85%) received the Letter of Award (LoA) from the Inland Waterways Authority of India (IWAI) for the procurement for ‘Fairway Maintenance of Sultanganj-Mahendrapur (74 Km) and Mahendrapur-Barh (71 Km) stretches of National Waterway-1 (River Ganga). The contract is for a period of three years and is valued at Rs147.43 crore including taxes.
 
Bajaj Finance (+0.02%) raised Rs1,384.17 crore through the allotment of 6,020 Non-Convertible Debentures (NCDs) at face value of Rs10 lakh each and 75,000 NCDs at face value of Rs1 lakh each, on private placement basis. The Debenture Allotment Committee of the Company has at its meeting held on October 28, 2024, allotted the same. 
 
Cyient (-1.61%) acquired a 27.3% stake in Azimuth AI, a fabless custom ASIC company known for its expertise in intelligent energy and power solutions. This strategic investment marks a significant milestone in Cyient’s semiconductor journey and demonstrates the continued focus to drive accelerated growth in this industry. This strategic investment marks another significant step in Cyient’s ongoing efforts to expand its capabilities and drive innovation across the semiconductor industry.
 
ICICI Bank (+2.98%) reported 18.83% rise in net profit at Rs12947.77 crore for Q2FY25 as compared to Rs10896.13 crore for the same quarter in the previous year. Total income of the bank increased by 27.32% at Rs72942.55 crore for Q2FY25 as compared to Rs57292.26 crore for the corresponding quarter previous year. 
 
Coal India (-4.22%) reported 22.04% fall in its net profit at Rs6,274.80 crore for the quarter ended September 30, 2024 as compared to Rs8,048.64 crore for the same quarter in the previous year. Total income of the company decreased by 7.43% at Rs32,177.92 crore for Q2FY25 as compared to Rs34,760.30 crore for the corresponding quarter previous year.
 
Bharat Electronics (-0.84%) reported 38.38% rise in net profit at Rs1,092.78 crore for Q2FY25 as compared to Rs789.71 crore for the same quarter in the previous year. Total income of the company increased by 14.87% at Rs4,762.66 crore for Q2FY25 as compared to Rs4,146.12 crore for the corresponding quarter previous year.
 
Aurobindo Pharma (+0.45%) completed acquisition of balance 49% of equity shares of GLS Pharma. Earlier, the company had entered into a binding agreement with GLS Pharma, a subsidiary of the Company and its promoters for acquisition of balance 5,90,361 equity shares of Rs10 each (49% of GLS Pharma) for a purchase consideration of Rs22.5 crore.
 
Bikaji Foods International’s (-1.28%) wholly owned subsidiary -- Bikaji Foods Retail (BFRL) completed the first tranche for acquisition of 40.40% of total issued and paid-up equity share capital in Hazelnut Factory Food Products (THF). 
 
Bandhan Bank (+9.87%) reported 29.99% rise in its net profit at Rs937.45 crore for the quarter ended September 30, 2024 as compared to Rs721.17 crore for the same quarter in the previous year. Total income of the bank increased by 21.11% at Rs6,094.53 crore for Q2FY25 as compared to Rs5,032.19 crore for the corresponding quarter previous year.
 
Other Earnings 
Cams Services (-0.91%): In Q2FY24-25, sales decreased by 34% year-on-year (y-o-y) to Rs342 crore. Net profit was up 42% y-o-y to reach Rs115 crore.
 
Motilal Oswal Financial Services (+5.34%): In Q2FY24-25, sales increased by 71% year-on-year (y-o-y) to Rs2,838 crore. Net profit was up 111% y-o-y to reach Rs1,122 crore. 
 
Arrow Greentech (+1.25%): In Q2FY24-25, sales increased by 123% year-on-year (y-o-y) to Rs64.8 crore. Net profit was up 268% y-o-y to reach Rs18.6 crore.
 
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 
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