Sensex Opens Strong; HCL Tech and Tech Mahindra Top Gainers

Thu, 24 Oct 09:30 am

   Previous Close   

   Pre-Open   

   12:30 pm   

   Closing   

Asian share markets are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 0.6% while the Hang Seng is up 0.4%. The Shanghai Composite is trading was trading down by 0.1%. US stocks closed higher Wednesday, with the major indices managing to shake off weakness from corporate quarterly results from the country's biggest names.

Back home, India share markets opened strong after early trends from Haryana and Maharashtra assembly election results showed Bharatiya Janata Party (BJP) retaining power in both the states. The BSE Sensex is trading up by 221 points while the NSE Nifty is trading up by 68 points. The BSE Mid Cap index up by 0.1% and BSE Small Cap index opened up by 0.4%.

Except, metal stocks, oil & gas and telecom stocks, all sectoral indices have opened the day in green with capital goods stocks and consumer durables stocks witnessing maximum buying interest.

The rupee is currently trading at 71.01 against the US$.

In the news from the automobile sector. India's largest two-wheeler manufacturer, Hero MotoCorp reported a year-on-year (YoY) decline of 10% in its consolidated net profit after tax (PAT) for Q2FY20.

The company's consolidated net profit after tax stood at Rs 8.8 billion for Q2 against Rs 9.8 billion from the year-ago period.

Hero MotoCorp's total consolidated income reported a decline of 17% YoY at Rs 78.3 billion during Q2 on subdued demand for two-wheelers in the domestic market.

The company's total income stood at Rs 73.8 billion during Q2FY19. Hero's EBIDTA margin for Q2 stood at 14.5%.

Hero MotoCorp's H1 wholesale dispatches were recorded at 3,441,517 units, down 17% YoY, reflects the data compiled by the Society of Indian Automobile Manufacturers (Siam).

At 92,823 units, the company's export shipments too were down 12% for the six-month period ending September 2019.

Notably, Hero has recorded a steeper drop in its scooter wholesales when compared to the motorcycles. It recorded a YoY decline of 36% in its scooter wholesales, which stood at 249,365 units in H1FY20.

Motorcycle wholesales saw a drop of 15% YoY at 3,192,152 units during the same period.

Hero MotoCorp share price opened the day up by 0.7%.

Moving on to the news from pharma sector. In the latest development, Dr. Reddy's Laboratories has confirmed its voluntary nationwide recall of all of its ranitidine medications sold in US due to confirmed contamination with N-Nitrosodimethylamine (NDMA) above levels established by the US Food and Drug Administration (USFDA).

This recall follows the USFDA's caution note alerting patients and health care professionals that NDMA was found in certain samples of ranitidine.

To date, Dr. Reddy's has not received any reports of adverse events related to the recall of Dr. Reddy's Ranitidine products.

The recall includes all quantities in the US that are within expiry.

Meanwhile, the company has received the Establishment Inspection Report (EIR) from the USFDA, for the Formulations Manufacturing facility at Shreveport, Louisiana, USA, indicating closure of the audit.

The inspection classification of this facility is determined as No Action Indicated (NAI).

Dr. Reddy's share price opened up by 0.4%.

Here's an interesting data on Dr. Reddy's Lab, investing just Rs 100,000 in Dr. Reddy's Labs in 1992, it would have given a whopping Rs 4.89 crores in 2014!

Profit Opportunities in the Rebirth of India

Co-head of Research, Tanushree Banerjee believes, the opportunities in the Rebirth of India are not only more profitable than the ones in 1991 but the gains could come faster too.

Tanushree has explained this historic opportunity in detail at the Rebirth of India summit.

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