Nifty gave up gains in the later half of the trading session. Stock specific action continued with results result in full swing. With Nifty Midcap 100 index already breaching previous week low and activating breakout in historical volatility, we can expect upside to remain unstable and selling pressure to continue as long Nifty trades below 18377. With Nifty Midcap 100 index already breaching previous week low and activating breakout in historical volatility, we can expect upside to remain unstable and selling pressure to continue as long Nifty trades below 18377. FSN E-Commerce Fashion Ventures, which operates online beauty, wellness and apparel platforms Nykaa and Nykaa Fashion, will open its initial public offering for subscription on October 28. At the upper price band of Rs 1,125, the PE works out to be 839x and the price to sales comes at 21.6x to its FY21 earnings. The valuation is expensive. Thus, only cash surplus and high-risk investors may “SUBSCRIBE” only for listing gains.
U.S. stocks dropped from all-time highs and Treasuries gained on an uptick in growth concerns. The S&P 500 and Dow Jones Industrial Average fell after setting closing records Tuesday. The tech-heavy Nasdaq 100 set an intraday record before closing barely in the green with Google parent Alphabet Inc., Amazon.com Inc. and Tesla Inc. rallying.
Stock in news
United Breweries -The company reported higher profit at Rs 80.6 crore in Q2FY22 against Rs 4 crore in Q2FY21, revenue jumped to Rs 1,426.2 crore from Rs 900.6 crore YoY.
Bajaj Auto – The company reported higher profit at Rs 1,274.5 crore in Q2FY22 against Rs 1,138.2 crore in Q2FY21, revenue increased to Rs 8,762.2 crore from Rs 7,155.9 crore YoY.
Larsen & Toubro- The company reported lower profit at Rs 1,819 crore in Q2FY22 against Rs 5,520 crore in Q2FY21, revenue jumped to Rs 34,773 crore from Rs 31,034.74 crore YoY.
IndusInd Bank – The company recorded sharply higher profit at Rs 1,146.7 crore in Q2FY22 against Rs 663.1 crore in Q2FY21, revenue increased to Rs 3,658 crore from Rs 3,278 crore YoY.
Titan Company – The company reported higher profit at Rs 641 crore in Q2FY22 against Rs 199 crore in Q2FY21, revenue rose to Rs 7,170 crore from Rs 4,318 crore YoY.
ITC – The company reported higher standalone profit at Rs 3,697.18 crore in Q2FY22 against Rs 3,252.62 crore in Q2FY21, revenue increased to Rs 13,553.52 crore from Rs 12,103.75 crore YoY.
Lupin Q2: Consolidated net loss at Rs 2,098 crore against profit of Rs 211 crore (YoY). Consolidated revenue was up 6.7% at Rs 4,091.3 crore against Rs 3,835 crore (YoY). Consolidated EBITDA loss at Rs 1,323.9 crore against EBITDA of Rs 581.2 crore (YoY). Business compensation expense at Rs 1,879.5 crore.
Vedanta – Subsidiary Monte Cello BV (MCBV) has entered into a term sheet agreement to divest Copper Mines of Tasmania (CMT) by way of an Option Agreement with New Century Resources.
Must Read: Monthly Mutual Fund Recommendation
A financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning without any cost on: http://bit.ly/Robo-Fintoo
Disclaimer: The views shared in blogs are based on personal opinion and does not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the sole decision of the investor and the company or any of its communication cannot be held responsible for it.
