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Benchmark Indian indices closed at record highs, boosted by gains in banking, metal, IT and realty stocks. The Sensex closed 0.94% higher at 61305.95 and Nifty was 0.97% up at 18338.55.
Nifty Bank index closed 1.83% higher. Other top index gainers were Metal (1.77%), IT (1.30%) and Realty (1.28%). Nifty Auto fell 0.595.
Indian rupee rose 12 paise to 75.26 against the US dollar.
India’s wholesale price-based inflation eased to 10.66% September as against 11.39% in August, helped by moderating food prices even as crude petroleum witnessed a spike. However, WPI inflation remained in double-digit for the sixth consecutive month.
Stock in News Today
GTPL Hathway: Shares of the company slipped after it reported a decline in net profit to Rs 43 crore in Q2FY22, from Rs 47.5 crore in Q1FY22. The total income fell to Rs 605.2 crore in the reported quarter, from Rs 610.6 in the first quarter of FY22.
Century Textiles: The company reported an increase in operating income to Rs 997.98 crore in the Jul-Sep quarter of FY22, from Rs 832.21 crore in Apr-Jun quarter of FY22. The net profit rose to Rs 32.12 in the reported quarter, from Rs 23.45 in Q1 of fiscal 2022.
Westlife Development Ltd: The company’ shares gained after the company in an exchange filing announced its growth plans to mark 25 years in India. Westlife Development, which owns and operates McDonald’s restaurants in west and south India, expects to add another 150-200 stores over the next 3-4 years. The company will also invest Rs 800 crore-1,000 crore across the business over 4 years.
India Cement: Shares of the company rallied and closed 7.82% higher at Rs 214.40 due to heavy volumes. The company in its recent annual report has said that infrastructure development in Tamil Nadu, Andhra Pradesh and Telangana is expected to revive cement demand in coming months.
TVS Motor: the company has rolled out 1 lakh units of BMW Motorrad’s 310cc series of motorcycles from its manufacturing plant at Hosur in Tamil Nadu. The milestone was achieved in less than five years and the Hosur plant produces around 10% of BMW Motorrad’s volumes globally, according to its exchange filing.
Adani Group: The group has formally taken over the operation, management and development of the international airport in Thiruvananthapuram. The airport was earlier owned and operated by Airports Authority of India.