Samvat 2077 Begins on a Strong Note, Mutual Fund Buying in October, and Top Buzzing Stocks Today

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Samvat 2077 began on a positive note for Indian share markets as the auspicious Muhurat trading session on Saturday ended strong.

Benchmark indices witnessed buying interest and ended their session at record high levels during the one-hour Muhurat trading session.

At the closing bell on Saturday, the BSE Sensex closed higher by 194 points (up 0.5%).

The NSE Nifty ended higher by 50 points (up 0.4%).

Stocks from the oil & gas sector and telecom sector were the most in demand.

The BSE Mid Cap Index ended up by 0.6%. The BSE Small Cap Index ended up by 0.8%.

Stocks such as BPCL, Tata Motors, and Sun Pharma were the top gainers in the Muhurat trading session.

On the other hand, and Hero MotoCorp were the top losers.

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Top Buzzing Stocks Today

Indiabulls Real Estate share price will be among the top buzzing stocks today as Rare Enterprises acquired 5 million shares of the real estate company via open market last week on Thursday.

On November 12, 2020, Rare Enterprises, owned by ace investor Rakesh Jhunjhunwala, purchased 5 million equity shares, or 1.1% equity stake in Indiabulls Real Estate via open market transaction.

Shares of ceramic tiles maker companies will also be in focus today. Kajaria Ceramics share price and Cera Sanitaryware share price hit their respective 52-week highs last week on Friday on the back of strong volume recovery.

Market participants will also track RBL Bank share price. The private lender has completed its fund raising process, garnering Rs 15.7 billion through preferential allotment of shares. Baring Private Equity Asia, through its vehicle Maple II B.V., has invested Rs 10 billion and will hold 9.44% stake in the lender.

ICICI Prudential Life Insurance has invested Rs 3.3 billion crore in the bank, while Gaja Capital, which has been an anchor investor in the lender since 2010, put in Rs 1.5 billion, and CDC Group, an RBL shareholder since March 2014, invested Rs 860 million in the fund raising process.

Mutual Fund Buying: Fresh Investments in 11 Stocks in October

Mutual funds made fresh investments in 11 stocks during October including Fermenta Biotech, GTPL Hathway, HDFC Warrant, Jash Engineering, Reliance Industries PP, Shakti Pumps, Suzuki Motor Corporation, Mindspace Business Parks REIT and Themis Medicare.

Maximum fresh buying was seen in Equitas Small Finance Bank which launched its IPO and listed its shares in October. Six mutual funds invested Rs 1.2 billion in the small finance bank, while the lowest fresh investment of Rs 0.7 million was seen in Shakti Pumps.

State-owned defence company Mazagon Dock Shipbuilders also witnessed fresh buying from mutual funds. MFs acquired Rs 113.8 million worth of shares in Mazagon Dock.

On the other hand, mutual funds completely exited seven stocks during the month, which were Angel Broking, Accelya Solutions India, Fiem Industries, Future Supply Chain Solutions, HBL Power Systems and Hexaware Technologies.

Overall as per the monthly data released by the Association of Mutual Funds in India (AMFI), total assets under management (AUM) for the mutual fund industry increased considerably to Rs 28.22 lakh crore as of October 31, compared to Rs 26.85 lakh crore at the end of September 30.

Among NSE Nifty stocks, the highest buying by mutual funds was seen in Bajaj Auto, BPCL, Dr Reddy's Labs, Hindalco, ICICI Bank, SBI, UPL and Maruti Suzuki India.

However, the highest selling was seen in Adani Ports, Axis Bank, Bajaj Finserv, Eicher Motors, GAIL, HDFC Life, NTPC, ONGC, TCS and Tata Motors.

Q2FY21 Results: Eicher Motors Posts 40% YoY Fall in Profits; Jubilant FoodWorks Reports Rise

Eicher Motors posted a 40% year-on-year (YoY) fall in net profit at Rs 3.4 billion for the quarter ended September 30. It had posted a profit of Rs 5.7 billion for the corresponding quarter last year.

Consolidated revenue from operations declined 2.7% YoY to Rs 21.3 billion. The company reported 43.8% YoY growth in total expenditure at Rs 1.2 billion.

EBITDA slipped 13% YoY to Rs 4.7 billion as against Rs 5.4 billion.

Sales of Royal Enfield motorcycles declined 9% YoY to 1,49,120 units in Q2FY21.

Commenting on Eicher Motors' performance, Siddhartha Lal, Managing Director, Eicher Motors said, "This quarter, we witnessed healthy demand and pick-up in business activities in the automotive industry. It has been encouraging for our motorcycle business at Royal Enfield as we have seen increased revival in consumer sentiment and demand. We have a robust order book and booking numbers are ahead of pre-covid levels."

Jubilant FoodWorks reported its standalone net profit at Rs 769.1 million for the quarter ended September against Rs 759.2 million in the corresponding quarter a year ago.

Revenue for the said quarter came in at Rs 8.1 billion against Rs 9.9 billion for the same period last year and earnings before interest, taxes, depreciation and amortization (EBITDA) came in at Rs 2.1 billion.

The company said its liquidity position was strengthened during the quarter. Total cash and cash equivalents, bank deposits and investments increased to Rs 8.3 billion as on September 30, 2020, up from Rs 6.9 billion as on March 31, 2020.

India's Forex Reserves Surge to Record High

In news from the financial markets space, India's foreign exchange reserves jumped by a massive US$ 7.779 billion to touch a lifetime high of US$ 568.494 billion in the week ended November 6, RBI data showed on Friday.

In the reporting week, the jump in reserves was mainly on account of an increase in foreign current assets (FCAs), a major component of the overall reserves.

FCAs increased by US$ 6.403 billion to US$ 524.742 billion, the central bank's weekly data showed.

In the previous week ended October 30, the reserves had increased by US$ 183 million to US$ 560.715 billion.

Meanwhile, gold reserves rose by US$ 1.328 billion to US$ 37.587 billion in the week ended November 6.

We will keep you updated on the latest developments from this space. Stay tuned.

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

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