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POST-MARKET REPORT
The benchmark indices ended lower for the second consecutive session on October 16, with the Nifty below 25,000 amid selling across sectors barring realty.
At close, the Sensex was down 318.76 points or 0.39 percent at 81,501.36, and the Nifty was down 86 points or 0.34 percent at 24,971.30.
Trent, M&M, Hero MotoCorp, Infosys, and Adani Ports were among the top losers on the Nifty, while gainers included HDFC Life, Dr Reddy’s Labs, Grasim Industries, Bharti Airtel and HDFC Bank.
Among sectors, oil & gas, realty, and telecom indices ended in the green, while auto, IT, pharma, and media were down 0.5-1 percent.
The BSE midcap ended flat and the smallcap index rose 0.3 percent.
STOCKS TODAY
Zydus Life: Zydus Lifesciences shares fell nearly 4 percent after a US federal judge ruled in favor of Exelixis Inc. in a patent dispute over Cabometyx, a blockbuster cancer drug. MSN Laboratories, which had partnered with Zydus Lifesciences, conceded that its generic version of Cabometyx infringed on three of Exelixis’ patents.
Rallis India: Rallis India shares skyrocketed over 13 percent as investors rejoiced in the company’s well-rounded performance in the July-September period. The firm delivered growth on all three key parameters of profit, revenue, and profitability in Q2.
RailTel: The Share of Railtel Corporation of India jumped 6.5 percent after the company secured a Rs 79.8 crore order from the Maharashtra Housing And Area Development Authority (MHADA). The telecom company announced that it will establish, migrate, and manage cloud-based data center and disaster recovery sites for MHADA under the new contract.
KEI Industries: KEI Industries tanked as much as 7 percent after the firm’s operating margins contracted in the July-September quarter. Despite recording growth in the bottom line as well as topline, the company’s EBITDA margin still shrank 70 basis points on year to 9.7 percent in the September quarter.
Cochin Shipyard: Cochin Shipyard fell 5 percent as the government’s offer-for-sale to offload a 5 percent stake in the PSU company opened today. Through the OFS, the government intends to pare stake at a floor price of Rs 1,540 per share, implying a discount of 7 percent from the previous closing level.
HDFC AMC: HDFC AMC shares jumped nearly 6 percent after strong Q2 FY25 results, with the market capitalization topping Rs 1 lakh crore for the first time. Improved yields, steady momentum in equity assets under management, and robust topline growth fueled bullish sentiment around the stock.