The Nifty’s weekly options expiry on Thursday resulted in a massive ₹10 lakh crore loss in investor wealth. The decline was largely due to geopolitical tensions between Iran and Israel. Additionally, India faced its own challenges, including the awaited SEBI circular on F&O norms, which will likely affect trading volumes going forward. There is also a pull of funds toward China as part of a FOMO rally, influencing money flow out of Indian markets.
Emerging Markets expert Adrian Mowat indicated that tactical money is moving from India to China. Meanwhile, aggressive selling by foreign institutions continued, with sales nearly reaching $2 billion. Domestic institutions continued to buy at lower levels.
Friday’s session is expected to reflect ongoing business updates, and the market is likely to react to Wall Street’s performance, especially as non-farm payrolls data is released. The Nifty index, which has already fallen 1,000 points from last Thursday’s high of 26,277, is showing signs of bearish momentum. Analysts expect the sell-off to continue, with key support levels between 25,050 – 25,000 and immediate resistance at 25,500.
Key Stocks in Focus:
Bank of Baroda: Recorded a global business of ₹25.06 lakh crore in Q2 FY25, up 10.23% YoY. Global deposits rose by 9.11% YoY to ₹13.63 lakh crore, and advances grew by 11.60% YoY to ₹11.43 lakh crore.
Bank of Baroda Q2 Update: Global advances jump 11.6% YoY, deposits surge by over 9%
Bajaj Finance: Customer franchise grew to 92.09 million in September 2024. Assets under management rose by 29% to ₹3.74 lakh crore, with a 14% increase in new loans booked and a 21% growth in deposits to ₹66,100 crore.
Bajaj Finance Q2 Update: AUM increases by 29% to ₹3.74 lakh crore
Mahindra & Mahindra Financial Services: Reported overall disbursements of ₹13,160 crore in Q2 FY25, a YoY decline of 1%. Collection efficiency remained flat at 96%. Stage-3 assets were at 3.8%, while Stage-2 assets increased to 6.4%.
Avenue Supermarts (DMart): Standalone revenue for Q2 FY25 was ₹14,050.32 crore, a 14.2% YoY increase. The total number of stores stood at 377.
Avenue Supermarts Q2 Report: Standalone revenue jumps 14%, net profit rises 17.5% YoY
Aarti Drugs: UK MHRA issued a certificate of GMP compliance for the manufacturing facility of its subsidiary, Pinnacle Life Science.
Aarti Drugs’ subsidiary Pinnacle Life Science receives GMP certificate from UK MHRA
Shilpa Medicare: Subsidiary Shilpa Pharma Lifesciences received a CEP from EDQM for the API Desmopressin, used to treat conditions like central diabetes insipidus.
Shilpa Pharma Lifesciences receives CEP for Desmopressin from EDQM
CESC: Subsidiary Purvah Green Power entered a binding term sheet with Bhojraj Renewables Energy for a 300 MW wind and 150 MW solar project.
CESC subsidiary Purvah Green Power to acquire Bhojraj Renewables for renewable energy expansion
Cyient DLM: Approved acquisition of a US-based entity through its subsidiary, Cyient DLM Inc.
Refex Industries: Plans to raise funds up to ₹927.81 crore through a preferential issue of equity and convertible warrants for various corporate purposes.
Refex Industries plans to raise Rs 927.81 crore to boost sustainable growth
Sundaram-Clayton: Launched its QIP issue with a floor price of ₹2,320.78 per share.
Sundaram-Clayton issues QIP with floor price of ₹2,320.78 per share
Ola Electric Mobility: Launched its “BOSS” campaign for the festive season, introducing pricing for its S1 portfolio starting at ₹49,999, with benefits up to ₹40,000.
Ola Electric launches ‘BOSS Sale’: S1 scooter at ₹49,999 with festive benefits up to ₹40,000
Reliance Power: Approved raising up to Rs 4200 crore n via 10-year FCCBs on a private placement basis at a 5% annual interest rate.
BSE: Announced discontinuation of weekly index derivatives on Sensex 50 and Bankex, effective from mid-November.
BSE discontinues weekly derivatives contracts on BANKEX and SENSEX 50
Some other stocks to watch out for –
Canara Bank: Appointed R Rajesh as the Functional Head of Credit & Prepaid Cards Wing.
Unicommerce eSolutions: Partnered with VIP Industries to streamline eCommerce operations.
Indian Oil Corporation: Signed a B2B Framework Agreement with Nepal Oil Corporation for petroleum infrastructure development.
Syncom Formulations: Re-appointed Kedarmal Shankarlal Bankda as Executive Chairman and Vijay Shankarlal Bankda as Managing Director for two years starting 2024-2025.
Vikas EcoTech: CFO Amit Dhuria resigned effective October 15.
Hindustan Construction Company (HCC): Zurich District Court extended Steiner AG’s debt moratorium, allowing transfer of assets to its subsidiary Steiner Development AG.
Panache DigiLife: Signed a manufacturing and supply agreement for media gateway devices with a US-based brand.
Quick Heal Technologies: Launched a fraud prevention solution called AntiFraud.AI.
Uflex: Its subsidiary Flex Asepto (Egypt) announced plans to set up an aseptic packaging facility in Egypt with an investment of $126 million.
Bulk and Block Deals:
- JK Lakshmi Cement: HDFC Mutual Fund acquired a 0.7% stake at ₹785/share.
- Eris Lifesciences: Motilal Oswal Financial Services acquired a 1.5% stake, while investor Rakesh Shah sold a 1.47% stake at ₹1,350/share.
- Macpower CNC Machines: Ambit Investment Advisors bought a 0.95% stake, and Urmiladevi Taparia sold 0.68%.
- HDFC Bank: BNP Paribas sold 43.75 lakh equity shares to Morgan Stanley Asia and Citigroup Global Markets Mauritius.
Results & Listings:
- Results Today: Tolins Tyres
- Mainboard Listing: Diffusion Engineers
- SME Listing: Nexxus Petro Industries, Forge Auto International, Sahasra Electronics Solutions, Divyadhan Recycling Industries
Stocks to Note for Corporate Actions:
- Ex-Dividend: Accelya Solutions, KPI Green Energy
- Ex-Bonus: Classic Electricals, Shikhar Leasing & Trading
- Stock Split: Godawari Power & Ispat, Real Eco-Energy
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
