Gift Nifty Up 15 Points | Varun Beverages Q2 Results | Why Defence Stocks Are Falling | Top Buzzing Stocks Today

Wed, 23 Oct Pre-Open

   Previous Close   

   10:30 am   

   Closing   

Indian share markets Slipped as the session progressed and ended the day weak.

Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading deep in the red on Tuesday.

At the closing bell on Friday, the BSE Sensex stood lower by 931 points (down 1.2%).

Meanwhile, the NSE Nifty closed lower by 309 points (down 1.3%).

ICICI Bank were among the top gainers.

Adani Enterprises, M&M and Coal India on the other hand, were among the top losers.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

Broader markets ended the day negative. The BSE Mid Cap ended 2.5% lower and the BSE Small Cap index ended 3.8% lower.

Sectoral indices are trading on negative note with stocks in metal sector, realty sector and power sector witnessing buying most selling pressure.

Gold prices for the latest contract on MCX were trading 0.2% higher at Rs 78,252 per 10 grams at the time of Indian market closing hours on Tuesday.

At 8:05 AM today, the Gift Nifty was trading 15 points higher at 24,540 levels.

Indian share markets are headed for a muted start today following the trend on Gift Nifty.

Speaking of the stock market, turnaround stocks can be a goldmine, but finding the right ones can be tricky.

In this video, Rahul Shah, Co-head of research at Equitymaster shares his strategy for identifying 'good' turnaround stocks and avoiding the 'bad' ones.

Plus, he reveals 3 picks that you can keep on your watchlist.

Watch now.

Top buzzing stocks today

Supreme Industries share price will be in focus today.

Supreme Industries shares tanked up to 10% at Rs 4,479.65 per share on the BSE after the company delivered muted quarterly earnings for the second quarter of the financial year 2024-25 (Q2FY25).

In Q2FY25, the company reported a revenue de-growth of 1.6% year-on-year, reaching Rs 22.7 bn, down from Rs 23.1 bn in Q2FY24. Sequentially revenue fell by 13.4%.

Diffusion Engineers will also be a top buzzing stock.

Shares of Diffusion Engineers jumped as much as 20 per cent to hit the upper circuit of Rs 489.3 during the intraday deals on Tuesday, in an otherwise weak market. This is also the all-time high for the company's shares, which have been trading on exchanges since October 4, this year.

Why Defence Stocks are Falling

Shares of defence companies, once a darling of the market, came under selling pressure yet again on 22 October amid a broader sell-off in the small and mid-cap space. Stocks like Mazagon Dock Shipbuilders, Garden Reach Shipbuilders and Engineers, and Bharat Dynamics-leaders of the defence rally over the past two years-were among the hardest hit, declining by 5-8%.

The frenzy surrounding the defence sector in recent years attracted significant inflows, spurred by optimistic growth expectations on the back of the government's push for the indigenisation of defence equipment.

This relentless buying spree, regardless of entry points, propelled many stocks in the sector to soar over 100% in recent times.

However, as concerns about lofty valuations became more pronounced, growing uncertainties in the market prompted a wave of profit booking among defence stocks. This triggered a strong pullback, causing many defence stocks to retreat sharply from their record highs.

While the outlook for defence companies remains solid, it is the stretched valuations-outpacing fundamental performance-that have raised alarms for investors. Despite the recent correction bringing valuations down from exuberant levels, they have yet to reach reasonable standards.

Varun Beverages Q2 Results

Varun Beverages on Tuesday reported a 22.4% rise in its consolidated net profit at Rs 6.3 bn in the September 2024 quarter.

It had reported a profit after tax of Rs 5.1 bn during the July-September quarter of the preceding 2023-24 fiscal, the company said in an exchange filing.

This is the third quarter result of the PepsiCo for the 2024 calendar year.

The total revenue from operations of Varun Beverages in the reporting period was Rs 49.3 bn against Rs 39.4 bn in the same period a year ago, a rise of 25.2%.

The Earnings before interest, taxes, depreciation and amortization (EBITDA) were reported at Rs 11.5 bn against Rs 8.8 bn YoY, a rise of 30.5%.

The company had approved raising Rs 75 bn through an Institutional Share Sale (QIP) on 9 October this year, subject to shareholder approval.

Varun Beverages Chairman, Ravi Jaipuria, credited the company's topline growth to the contributions from BevCo, supported by a wider distribution network, greater product reach, and strong demand in key markets.

Paytm Q2 Results

Fintech company One 97 Communications, which operates the payments platform Paytm on Tuesday, reported a consolidated profit after tax (PAT) of Rs 9.3 bn for the September 2024 quarter, compared to a loss of Rs 2.9 bn in the corresponding quarter of the previous fiscal year, due to a one-time gain.

Paytm's revenue dropped 34% year-on-year (YoY) to Rs 16.6 bn against Rs 25.2 bn in the corresponding quarter of the previous year.

Paytm attributed the profit to a one-time exceptional gain of Rs 13.5 bn on account of the sale of the entertainment ticketing business to Zomato earlier this year.

On a sequential basis, Paytm's revenue rose 11% due to a 5% quarter-on-quarter (QoQ) increase in GMV, better device realisation, and a 34% QoQ increase in revenues from financial services.

In the merchant loan distribution business, the fintech has started working with select lenders by giving Default Loss Guarantees for select portfolios.

Paytm's indirect cost has come down by 17% QoQ to Rs 10.8 bn due to a reduction in employee costs (down 13% QoQ), marketing expenses and the absence of certain one-time expenses incurred in Q1 FY 2025.

Going forward, Paytm said cost discipline will continue to be a key focus area.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers