Gift Nifty Trades Down 19 Points | Why Bharat Forge Share Price is Rising | Gland Pharma & Nykaa Q2 Result | Top Buzzing Stocks Today

Tue, 7 Nov Pre-Open

   Previous Close   

   10:30 am   

   Closing   

On Monday, Indian share markets extended gains as the session progressed and ended on a strong note.

Benchmark indices continued to rally for the third straight session amid favourable trends in global markets.

At the closing bell on Monday, the BSE Sensex stood higher by 595 points (up 0.9%).

Meanwhile, the NSE Nifty closed higher by 181 points (up 0.9%).

L&T, Axis Bank and Power Grid were among the top gainers.

SBI, Tata Motors and Titan, on the other hand, were among the top losers.

The BSE MidCap index gained 0.9% while the BSE SmallCap index ended higher by 1%.

Barring consumer durables, all sectoral indices ended in green with stocks in the metal sector, energy sector and healthcare sector witnessing most of the buying.

Shares of Crisil and Dr Lal PathLabs hit their 52-week high on Monday.

The rupee was trading at 83.18 against the US$.

Gold prices for the latest contract on MCX were down by 0.3% at Rs 60,741 per 10 grams at the time of Indian market closing hours on Monday.

At 7:50 AM today, the Gift Nifty was trading 19 points or 0.1% lower at 19,461 level.

Indian share markets are headed for a negative opening today following the trend on Gift Nifty.

Speaking of stock markets, Co-head of Research at Equitymaster Tanushree Banerjee talks about the possibility of Sensex at 50,000 in 2024, in her latest video.

With most of the positives priced in, any negative shocker, especially like the macro variables, could cause a huge dent in the index next year.

Watch the below video for more:

Top buzzing stocks today

Divis Labs share price will be in focus today.

Divi's Labs today posted a 29% fall in its consolidated net profit at Rs 3.5 bn for the quarter ended September 2023.

Revenue from operations rose 3% year-on-year (YoY) to Rs 19.1 bn in the July-September period.

Adani Wilmar will also be a top buzzing stock.

Adani Group is in talks with multiple multinational consumer goods companies to sell its entire 43.97% stake in Adani Wilmar, which owns the Fortune brand of edible oils and packaged grocery.

Why Bharat Forge's share Price is rising

Bharat Forge's share price jumped 4% yesterday after it reported nearly 52% year-on-year (YoY) to Rs 2.1 billion (bn) in the July to September quarter of FY24 against Rs 1.4 bn in the same quarter of FY23.

The company's revenue from operations increased 22.6% to Rs 37.7 bn in the second quarter, driven by a growth in exports and a growth in domestic revenue. It was Rs 30.8 bn in the corresponding quarter of last fiscal.

Whereas the total expenses of the company increased 21% to Rs 34.9 bn in Q2FY24 from Rs 28.9 bn in Q2FY23.

Bharat Forge's EBITDA (earnings before interest, taxation, depreciation, and amortization) stood at Rs 6.1 bn, up 34% from Rs 4.5 bn in the same quarter last year. EBITDA margin expanded to 27%, as against 24.3% in the year-ago period, driven by operating leverage and a sharp focus on cost control.

The strong financial performance and debt reduction of Rs 3.1 bn resulted in ROCE (net of cash) inching closer to the 20% mark.

Bharat Forge's defence business continues to move from strength to strength in terms of execution and order wins.

During the quarter, the company's defence vertical, KSSL secured new business worth Rs 11 bn taking the executable order book to Rs 30 bn, over the coming 24 months.

The overseas operations performance has also shown improvement.

Bharat Forge stands among the Top 5 Defence Stocks to Watch Out in Nifty's Run-up to 40,000.

Bharat Forge is among the top Indian drone companies to watch out for in 2023.

Speaking of the defence sector, note that the government's Atmanirbhar Bharat Abhiyan has emphasised the need for self-reliance in security space.

Given the increasing focus on self-reliance, the Ministry of Defense (MoD) has set a target of doubling defence production to US$ 25 bn by 2025.

That is why we believe that the defence sector could produce the next set of multibagger stocks over the long run.

Nykaa Q2 Result

FSN E-Commerce Ventures, which operates beauty and personal care (BPC) company Nykaa, saw its net profit increase by 50% to Rs 780 m in Q2FY24 from Rs 52 m in Q2FY23, led largely by its beauty and personal care (BPC) business which witnessed a strong demand during its flagship sale event in July.

The festive season is crucial for e-commerce companies like Nykaa and others, who typically run a series of sales before Diwali. Last year, most of the sales had begun in Q2 but the sales were delayed by a few weeks this year.

The 50% growth in net profit was coupled with a 22% increase in revenue from operations, which stood at Rs 15.1 bn in the quarter, up from Rs 12.3 bn in the same period last year.

The company's earnings before interest, taxes, depreciation and amortisation (EBITDA) margin improved from 5% in Q2FY23 to 5.4% in Q2FY24.

The Mumbai-based company recorded a net profit of Rs 54 m and revenues of Rs 14.2 bn in Q1FY24.

Gland Pharma Q2 Profit Down 20%

Gland Pharma on 6 November reported a 19.6% year-on-year (YoY) rise in consolidated net profit to Rs 1.9 bn for the July-September quarter of the current financial year.

The company reported a profit of Rs 2.4 bn in the same period last year.

Revenue came in at Rs 13.7 bn, up 31.5% from the year-ago quarter figure of Rs 10.4 bn.

The company's earnings before interest, taxes, depreciation and amortization (EBITDA) came in at Rs 3.2 bn, up from Rs 2.9 bn in the year-ago period.

Total R&D expenses for Q2 FY24 were Rs 350 m, or 3% of operating revenue. The company filed 1 ANDA during the quarter and received approval for 5 ANDAS.

The company is making progress with its complex portfolio, and in the next 5-6 months, at least two products are ready for submission.

The lock-in period for this company will conclude on 20 November 2023. For more, check out Top 5 Stocks to Watch Out Upon IPO Lock-in Period Expiry.

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