Nifty 17401.65 (1.37%)
Sensex 58461.29 (1.35%)
Nifty Bank 36508.25 (0.39%)
Nifty IT 36157.85 (2.06%)
Nifty Financial Services 17982.9 (1.26%)
Adani Ports 739.10 (4.40%)
Asian Paints 3180.60 (1.35%)
Axis Bank 676.10 (-0.52%)
B P C L 378.85 (2.74%)
Bajaj Auto 3328.40 (2.43%)
Bajaj Finance 7180.50 (2.01%)
Bajaj Finserv 17758.15 (2.16%)
Bharti Airtel 732.55 (1.43%)
Britannia Inds. 3578.50 (1.22%)
Cipla 921.25 (-0.74%)
Coal India 159.30 (2.41%)
Divis Lab. 4777.30 (0.53%)
Dr Reddys Labs 4662.75 (1.22%)
Eicher Motors 2451.55 (0.54%)
Grasim Inds 1723.85 (2.63%)
H D F C 2807.80 (3.85%)
HCL Technologies 1184.70 (2.42%)
HDFC Bank 1525.75 (1.40%)
HDFC Life Insur. 705.30 (1.65%)
Hero Motocorp 2472.70 (1.00%)
Hind. Unilever 2383.30 (1.64%)
Hindalco Inds. 432.10 (1.69%)
I O C L 120.65 (2.51%)
ICICI Bank 722.40 (-0.73%)
IndusInd Bank 945.55 (1.27%)
Infosys 1748.25 (1.94%)
ITC 225.45 (1.60%)
JSW Steel 646.75 (1.50%)
Kotak Mah. Bank 1964.25 (0.56%)
Larsen & Toubro 1789.20 (0.18%)
M & M 849.55 (1.78%)
Maruti Suzuki 7324.95 (0.71%)
Nestle India 19503.20 (0.54%)
NTPC 128.70 (0.78%)
O N G C 144.00 (1.23%)
Power Grid Corpn 214.50 (3.52%)
Reliance Industr 2482.85 (0.64%)
SBI Life Insuran 1188.05 (1.99%)
Shree Cement 26289.80 (0.76%)
St Bk of India 477.00 (0.36%)
Sun Pharma.Inds. 766.25 (2.80%)
Tata Consumer 773.25 (0.06%)
Tata Motors 479.10 (0.81%)
Tata Steel 1112.40 (2.76%)
TCS 3642.90 (1.82%)
Tech Mahindra 1629.65 (2.65%)
Titan Company 2386.50 (1.11%)
UltraTech Cem. 7323.20 (0.01%)
UPL 698.20 (1.12%)
Wipro 646.80 (1.89%)

Closing Bell: Market snaps 4-day losing streak led by gains in Banking and Financial stocks

Closing Bell: Market snaps 4-day losing streak led by gains in Banking and Financial stocks
by 5paisa Research Team 25/10/2021

Indian markets broke the four-day losing streak and ended higher supported by the banking heavyweights. 

Domestic equity benchmarks snapped their four-day losing streak on Monday, October 25, 2021, led by gains in banking stocks of ICICI Bank, Axis Bank and State Bank of India. But the upside was capped owing to selling pressure in Infosys, HDFC Bank, Asian Paints, Reliance Industries and Bajaj Finserv. During today's trading session benchmark indices traded in a volatile manner with Sensex moving in a band of over 900 points and Nifty touching an intraday high of 18,241.

At the closing bell, the Sensex was up 145.43 points or 0.24% at 60967.05, and the Nifty was up 10.50 points or 0.06% at 18125.40. On advance-decline, around 971 shares have advanced, 2276 shares declined, and 174 shares remain unchanged.

Top gainers on the Bombay Stock Exchange were ICICI Bank, Axis Bank, SBI and Dr Reddy’s Laboratories. The top losers of the day were Bajaj Finserv, Bajaj Auto and HCL Technologies.

On the sectoral front, except the banking sectoral, all other sectoral indices ended in the red with auto, IT, FMCG and Realty indices were down 1-2%. In the broader markets, BSE Midcap and Smallcap indices fell over 1% each.

Among the buzzing stocks today was the Indian Railway Catering and Tourism Corporation (IRCTC) which came under intense selling pressure after the stock came out of the National Stock Exchange's futures and options ban list on Monday. Shares of IRCTC fell as much as 14.32%to hit an intraday low of ₹ 3,960.05.

ICICI Bank was the top gainer, as the stock jumped after the bank reported a 29.6% rise in net profit to Rs 5,511 crore on a standalone basis for the July-September quarter in the financial year 2021-22, compared to Rs 4,251.3 crore in the year-ago period.

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Tech Mahindra reports 26% rise in Q2 profit, revenue up 16%

by 5paisa Research Team 25/10/2021

IT services firm Tech Mahindra Ltd reported quarterly revenue that beat street expectations but posted a profit after tax that was marginally below consensus for the three months ended September 30.

Tech Mahindra reported a net profit of Rs 1,339 crore, down 1.2% from the first quarter on a sequential basis but 26% higher year on year. Analysts were expecting a profit of around Rs 1,400 crore.

The company’s revenue, however, grew 6.7% quarter on quarter and 16.1% over the second quarter last year to Rs 10,881 crore.

Tech Mahindra shares, which are trading close to their 52-week highs, were up 0.42% to close at Rs 1,524.4 apiece on Monday. The IT firm, which announced a couple of overseas acquisitions in the July-September period, declared its financial results after trading stopped for the day.

Tech Mahindra Q2: Other highlights

1) EBITDA at Rs 1,995 crore; up 6.3% QoQ and 17.2% YoY.

2) The board has proposed a special dividend of Rs 15 per share (300%).

3) No. of active clients increased from 1,058 to 1,123 during the quarter.

4) Attrition has shot up to 21% from 17% in the first quarter and 14% in same quarter last year.

Tech Mahindra management commentary

CP Gurnani, Managing Director and Chief Executive Officer at Tech Mahindra, said the company recorded its highest sequential growth in a decade.

“We have witnessed strong traction across all key markets as we invest in our digital capabilities through strategic partnerships. We continue to accelerate our clients’ digital journey by creating Human Centric Experiences, helping them gear up for tomorrow, today,” he said.

Milind Kulkarni, Chief Financial Officer at Tech Mahindra, said, “Our strong execution has ensured that we maintain our profitability margins while accelerating growth momentum. We remain committed on the operational excellence journey we have boarded, and continue to create value to shareholders through efficient capital return.”

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Meet the dean of valuation - Aswath Damodaran

Meet the dean of valuation - Aswath Damodaran
by 5paisa Research Team 25/10/2021

Owing to his deep knowledge and expertise on valuation, Aswath Damodaran has been christened as the "Dean of Valuation".

Aswath Damodaran is a professor of finance at the Stern School of Business at New York University, where he teaches corporate finance and equity valuation. He has written over 20 books to date that includes, Applied Corporate Finance, Damodaran on Valuation: Security Analysis for Investment and Corporate Finance, Investment Valuation: Tools and Techniques for Determining the Value of Any Asset, Narrative and Numbers: The Value of Stories in Business to name a few. 

He has won the Richard L Rosenthal Award for Innovation in Investment Management and Corporate Finance and also the Herbert Simon Award. Damodaran regularly blogs about his views on the ongoing developments in the market on "Musings on Markets", which is a popular website on investing.

The secret to being a successful investor 

Aswath Damodaran strongly believes that humility is the single most important characteristic required to be a successful investor. In his latest webinar- The Illusion of Smart Money, he classified the investors into two groups- the humble and the arrogant. The humble investors are the ones who recognized success as a function of luck as well as skill and failure as a part of investing and an occasion for learning. On the other hand, he described the arrogant investors like the ones who viewed success as a function of their skill alone and took failure as a humiliation. Furthermore, if given a choice to pick someone to manage his money, he would select someone humble, since he believes that humble investors are less likely to overpromise and overcommit.

Talking about the rise of crypto assets, in an interview with CNBC TV18, he called cryptocurrency the millennial gold. He further revealed that he is not a market-timer and that he is still invested in stocks that he believes can deliver reasonable returns.

The Zomato IPO pricing debate

While talking about Zomato IPO, in an interview with CNBC TV18, Damodaran advises staying away from metrics that scale to current earnings, irrespective of the company because it will lead to absurd valuations. The reason is that investors buy for the future potential of the company, not the present and that future potential should seem reasonable. Speaking about Zomato, he said that while the company leads the online food delivery market, which holds great growth potential, two important factors need to be considered for tapping into this potential. Firstly, the growth of the Indian economy, as the rise in demand for online food delivery requires a rise in disposable income and secondly, the change in food habits of Indians.

Upcoming IPOs

Commenting on the upcoming IPOs of Paytm and Ola, Aswath Damodaran would prefer to invest in Paytm IPO over the Ola IPO. In an interview with Business Today, the professor believed that the former has potential as the financial services and payment processing business is huge. On the other hand, the ride-sharing business is a catastrophe globally and there is no stickiness in the market. Hence, if he has a choice, he would prefer to invest in Paytm IPO, provided that it is priced reasonably.

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These stocks are likely to be in focus on October 26

These stocks are likely to be in focus on October 26
by 5paisa Research Team 25/10/2021

The BSE Sensex with the help of banking majors managed to close in green on Monday. SBI, Axis Bank and ICICI Bank made afresh 52 weeks high on Monday even as the Nifty Bank index traded at all-time highs. Bank of Baroda gained by more than 2% in today's trade.

ICICI Banks, Axis Bank, ONGC, MRPL, Shopperstop, KEC, PVR, Torrent Pharma, Quess Corp, S H Kelkar & Company, City Union Bank, Blue Star, Minda Industries and Chennai Petro will be in focus on Tuesday, October 26.

Watch out for these stocks on Tuesday -

ICICI Bank: The shares of ICICI Bank gained by more than 10% on Monday. The stock of ICICI Bank displayed a gap up opening and managed to outperform with a huge spurt in volumes. The banking heavyweight managed to close at its all-time highs on Monday and will be in focus on Tuesday.

Axis Bank: The shares of Axis Bank managed to close at an all-time high on Monday. The shares gained by more than 3% on Monday with a spurt in volumes by 3 times. Axis Bank will be watched on Tuesday by the momentum traders and investors.

ONGC: The shares of ONGC after a gap up opening continued to build their gains on Monday. The share price of ONGC jumped higher by 3%. The shares of ONGC gained by 2.77% with a spurt in volume of 1.58 times. ONGC may trade with a bullish sentiment on Tuesday, October 26. Keep a watch on this stock.

Price Volume Breakout: MRPL, Shopperstop, KEC, PVR, Torrent Pharma, Quess Corp, S H Kelkar & Company, City Union Bank, Blue Star, Minda Industries and Chennai Petro are some of the BSE 500 index constituents that displayed a price volume breakout in the Monday trading session. These stocks will be on the radar of bulls on Tuesday.

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Penny Stock Update: These stocks gained up to 9.85% on Monday

Penny Stock Update: These stocks gained up to 9.85% on Monday
by 5paisa Research Team 25/10/2021

Today equity market was very volatile. BSE BANKEX is the top gainer while BSE Realty is the top loser in today’s trade.

After, a negative closing last week, the Indian equity market started this week trading on a very volatile note. The market was swinging between negative and positive for the entire trading session. Today, the majority of sectoral indices have closed in negative, while, some sectoral indices closed with green mark.

Nifty 50 and BSE Sensex are up by 10.50 points i.e., 0.06% and 145.43 points i.e., 0.24% in today’s trade. Stocks pulling the BSE Sensex index up are Axis bank, SBI, Tech Mahindra, Dr Reddy’s Lab and M&M. Whereas, stocks that dragged the BSE Sensex down are HDFC Bank, Bajaj Finserv, Reliance, HCL Tech and Asian Paints. Moreover, stocks pulling Nifty 50 up are ICICI Bank, Axis Bank, JSW Steel, SBI and ONGC. While, Stocks pulling Nifty 50 down are HDFC Bank, Reliance, Infosys and Bajaj Finance.

In today’s trade, S&P BSE BANKEX, S&P BSE Private Banks Index and S&P BSE Finance were top gainers which closed up positive. BSE BANKEX index consisting of stocks such as ICICI Bank, City Union Bank, Axis Bank and SBI are top gainers gaining up to 10.80%.

Today majority of indices closed in red mark among which top losers are S&P BSE Realty, S&P BSE Consumer Discretionary Goods & Services, S&P BSE Smallcap and S&P 150 MidCap Index. BSE Realty index that consists of stocks such as Sunteck Realty Ltd, Indiabulls Real Estate Ltd, Prestige Estates Projects Ltd and Sobha Ltd are top losers, shedding up to 7.49%.

Here is the list of penny stock that gained up to 8% on a closing basis on Monday, 25th October 2021:

Sr No.    

Stock    

LTP     

Price Gain%    

1.    

Mandhana Retail Ventures Ltd  

18.40  

9.85%  

2.    

Dsj Keep Learning Ord Shs  

1.05  

5.00%  

3.    

Rohit Ferro-Tech Limited  

14.80  

4.96%  

4.    

Andhra Cements Ltd  

17.00  

4.94%  

5.    

Digicontent Ltd  

11.70  

4.93%  

6.    

Shriram EPC Limited  

6.45  

4.88%  

7.    

Zenith Steel Pipes & Industries Ltd  

1.10  

4.76%  

8.    

SPML Infra Ltd  

11.10  

4.72%  

9.    

Ravikumar Distilleries Limited  

13.35  

4.71%  

10.    

Blue Coast Hotels Ltd  

5.65  

4.63%  

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HDFC AMC, Aditya Birla Sun Life AMC post contrasting Q2 results but both stocks fall

by 5paisa Research Team 25/10/2021

HDFC Asset Management Company Ltd and rival Aditya Birla Sun Life AMC Ltd reported contrasting quarterly results on Monday, but shares of both mutual fund houses extended losses.

HDFC AMC posted a marginal 1.7% increase in its net profit for the second quarter ended September to Rs 344.38 crore from Rs 338 crore a year earlier. This was, however, lower than the Rs 345.45 crore number registered during the previous three months.

Revenue from operations jumped 19% from a year earlier to Rs 542.33 crore, India’s third-largest fund house by assets under management said.

Second-quarter profit was dragged down mainly by an almost 50% in staff costs to nearly Rs 80 crore.

However, net profit for the first six months of the current financial year was 7.8% higher from a year earlier while the top line was 14.6% higher.

Still, the tepid quarterly earnings disappointed investors. Shares of HDFC AMC fell 0.5% to close at Rs 2,768 apiece. The shares have lost almost 18% since touching a one-year high in early September.

Aditya Birla Sun Life AMC Q2

The company, a joint venture of Aditya Birla Group and Sun Life Financial Inc of Canada, reported a 38% jump in profit to Rs 173.1 crore for the July-September quarter from Rs 125.4 crore in the year-ago period.

Total revenue rose 28% to Rs 372.2 crore in the period under review from Rs 291 crore in the quarter ended September 30, 2020.

This is the first time the company is declaring quarterly results as it went public only earlier this month. The IPO was a complete offer for sale by Aditya Birla Capital and Sun Life. The total IPO size was Rs 2,768.25 crore. It was subscribed 5.25 times.

Shares of the company fell 1% on Monday to close at Rs 651.75 apiece. The shares are now down 8.5% from their initial public offering price of Rs 712 apiece.

Aditya Birla Sun Life AMC is India’s fourth-largest fund house with an AUM of Rs 2.75 trillion at the end of June 2021. In addition, it also had Rs 450 crore in assets under domestic fund of funds, according to the Association of Mutual Funds in India. HDFC AMC is ranked third with an AUM of Rs 4.2 trillion.

Future plans

HDFC AMC seems to be going long on the passive fund segment. Earlier this month, it filed papers with the Securities and Exchange Board of India to launch nine passive funds including exchange-traded funds.

Passive funds have been gaining favour among investors, who are looking for low-cost options, as most active funds have failed to comprehensively beat benchmark indices in the last few years.

Aditya Birla Sun Life AMC managing director and CEO A Balasubramanian said the company is focusing on increasing its overall assets under management by growing across different asset categories.

“Our sustained growth in SIP (systematic investment plan) book, equity AUM, B-30 assets, folio count and differentiated product offerings have contributed towards our growth,” he said.

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