Indian equity benchmark indices ended higher in a highly volatile session on the monthly expiry day on October 27. The Sensex ended 212.88 points, or 0.36% higher, at 59,756.84, and the Nifty was up 80.70 points, or 0.46%, at 17,737.
Gland Pharma | CMP: Rs 1,898 | The share price of Gland Pharma declined 14.71 percent after the company reported a 20 percent year-on-year decline in profit at Rs 241.2 crore for the quarter ended September FY23, dented by weak topline as well as operating performance. Revenue for the quarter fell 3 percent YoY to Rs 1,044.4 crore. Citi has a "sell" call on the stock with the target price cut to Rs 1,920 from Rs 2,140 a share.
Dabur | CMP: Rs 551 | Share price of Dabur surged 3.5 percent after the company reported a market share gain across 95 percent of its portfolio in Q2FY23 and also announced the acquisition of Badshah Masala to expand its food business. Goldman Sachs has a "buy" call on the stock with a target price of Rs 680 apiece.
V-Guard | CMP: Rs 253 | The company reported a 26.8 percent fall in its Q2 net profit at Rs 43.6 crore versus Rs 59.4 crore. Mithun. K Chittilappilly, Managing Director, VGuard Industries, said "Margins for the quarter were impacted by the sale of higher cost wires inventory at relatively lower realizations due to a fall in copper prices. We should see margins returning to pre-Covid levels over the next two quarters." The stock ended 2.43 percent lower.
Indian Metals & Ferro Alloys | CMP: Rs 240.25 | The stock declined 6.19 percent as the company posted a 88.7 percent fall in its Q2FY23 net profit at Rs 16.3 crore against Rs 143.6 crore, while revenue was up 3 percent at Rs 672.5 crore versus Rs 653.2 crore, YoY.
Kaveri Seed | CMP: Rs 483 | Share price jumped after the board of directors approved the proposal for buying back the company's fully-paid equity shares having a face value of Rs 2 for an aggregate amount of Rs 125 crore at a price not exceeding Rs 700 per share. The stock ended 5.7 percent higher.
JSW Steel | CMP: Rs 680.90 | The company's US arm has raised $182 million from two Italian banking institutions—Intesa Sanpaolo and Banco BPM—to fund the modernising of its plate mill facility in Baytown, US. Despite posting a loss in Q2FY23, the steel major has maintained its FY22-23 volume guidance of 24-25 million tonnes, which has been cheered by investors. The stock was the top Nifty gainer on October 27, up 5.8 percent.
Gland Pharma | CMP: Rs 1,898 | The share price of Gland Pharma declined 14.71 percent after the company reported a 20 percent year-on-year decline in profit at Rs 241.2 crore for the quarter ended September FY23, dented by weak topline as well as operating performance. Revenue for the quarter fell 3 percent YoY to Rs 1,044.4 crore. Citi has a "sell" call on the stock with the target price cut to Rs 1,920 from Rs 2,140 a share.
Dabur | CMP: Rs 551 | Share price of Dabur surged 3.5 percent after the company reported a market share gain across 95 percent of its portfolio in Q2FY23 and also announced the acquisition of Badshah Masala to expand its food business. Goldman Sachs has a "buy" call on the stock with a target price of Rs 680 apiece.
V-Guard | CMP: Rs 253 | The company reported a 26.8 percent fall in its Q2 net profit at Rs 43.6 crore versus Rs 59.4 crore. Mithun. K Chittilappilly, Managing Director, VGuard Industries, said "Margins for the quarter were impacted by the sale of higher cost wires inventory at relatively lower realizations due to a fall in copper prices. We should see margins returning to pre-Covid levels over the next two quarters." The stock ended 2.43 percent lower.
Indian Metals & Ferro Alloys | CMP: Rs 240.25 | The stock declined 6.19 percent as the company posted a 88.7 percent fall in its Q2FY23 net profit at Rs 16.3 crore against Rs 143.6 crore, while revenue was up 3 percent at Rs 672.5 crore versus Rs 653.2 crore, YoY.
Kaveri Seed | CMP: Rs 483 | Share price jumped after the board of directors approved the proposal for buying back the company's fully-paid equity shares having a face value of Rs 2 for an aggregate amount of Rs 125 crore at a price not exceeding Rs 700 per share. The stock ended 5.7 percent higher.
JSW Steel | CMP: Rs 680.90 | The company's US arm has raised $182 million from two Italian banking institutions—Intesa Sanpaolo and Banco BPM—to fund the modernising of its plate mill facility in Baytown, US. Despite posting a loss in Q2FY23, the steel major has maintained its FY22-23 volume guidance of 24-25 million tonnes, which has been cheered by investors. The stock was the top Nifty gainer on October 27, up 5.8 percent.
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