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stocks rallied as much as 15% in Mumbai trading on Monday even as equity benchmarks, BSE Sensex and NSE Nifty, traded in the amid brisk in frontline bluechip counters. Stocks that surged in excess of 15% included, Shree Metalloys(19.99%), Gravity(India)(19.93%) and Shree Rama Multi(19.31%).

Benchmark NSE Nifty closed 309.0 points down at 23995.35 amid selling in frontline bluechip counters.

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Shares of Punjab National Bank(up 2.65 per cent), Au Small Finance Bank Ltd.(up 1.32 per cent), State Bank of India(up 1.06 per cent), IndusInd Bank Ltd.(up 0.13 per cent) and Federal Bank Ltd.(up 0.06 per cent) ended the day as top gainers in the pack.

Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 2.36%), Paradeep Phosphates Ltd.(up 0.69%), Bohra Industries Ltd.(up 0.52%) and Krishana Phoschem Ltd.(up 0.41%) stood among the top gainers.

portfolio is to generate returns. Returns, in turn, are influenced by the allocation of investments between cash, fixed income, Hybrid, equity, and alternates. Each of these investments carry a different level of investment risk that increases as one moves from cash to alternatives.

Finance Corporation (IRFC) on Monday announced its results for the second quarter ended September 2024, wherein the company reported a 4% jump in its profit after tax (PAT) at Rs 1,612.65 crore on a year-on-year (YoY) basis while the revenue from operations surged by 2%. PAT was reported at Rs 1,544.58 crore for the same quarter of the previous financial year.

Dr. Reddy's Laboratories is likely to report healthy double-digit growth in sales in the second quarter, mainly driven by strong domestic and US businesses. However, the bottom line is seen declining in the reporting period. Net profit for the July-September 2024 period may fall 3% year-on-year, according to an average estimate of four brokerages. Meanwhile, sales are likely to grow 13% year-on-year, the estimates revealed.

Exide Industries Ltd on Monday reported a 13.66 per cent decline in consolidated profit after tax at Rs 233.4 crore in the September quarter, impacted by higher expenses. The company had posted a consolidated profit after tax (PAT) of Rs 270.32 crore in the same quarter last fiscal, Exide Industries Ltd said in a regulatory filing. Consolidated revenue from operations in the quarter under review was at Rs 4,450 crore compared to Rs 4,371.52 crore in the year-ago period.

stocks blunted the impact of a weaker dollar that helped lift the currency's regional peers ahead of the U.S. presidential election. The rupee closed at 84.1150 against the U.S. dollar after touching its all-time low of 84.1225 earlier in the session.

«There are some global factors as well that what is the trajectory of China's stimulus, so that has been one of the key factors, which in the last year, when some of the FIIs might have thought about China also as an investment class. But after that, again, China has corrected as well,» says Shreyash Devalkar, Axis Mutual Fund. The Nifty is down more than 2000 points from its September highs. Do you expect more correction to come in or are the valuations now looking attractive? How are you reading into this fall in the markets? What could have been the reason? What could be the reason for the Nifty to consolidate at these levels? What are your views when it comes to the Indian markets? Shreyash Devalkar: So, yes, we have seen that Indian market correcting, especially in last month, multiple factors has started affecting it. First and foremost, obviously, the valuations we have observed has been high in India. And when we say high, it is in the context that in across sectors, it is at least almost 30% to 200% higher than pre-COVID level as far as valuations are concerned, barring probably private sector banks, everywhere else this was observed and so that is actually the one point which has led to this correction.

Subscribe to enjoy similar stories. Astronomical corner-office pay packages have sparked debate worldwide, including in India. A Mint analysis of India's largest listed companies reveals that median remuneration for top executives grew by 8.6% in FY24, marking a slowdown compared to FY23.

GAIL (India) Ltd. traded at Rs 197.05 on BSE at 01:18PM (IST) on Monday, 1.57 per cent from previous close. The scrip quoted a 52-week low price of Rs 118.75 and a high of Rs 246.35.

Marico Ltd. 1.86 per cent to Rs 634.35 in Monday's session as of 01:07PM (IST) even as the equity benchmark Sensex traded 1232.28 points at 78491.84. Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 719.80 and a 52-week low of Rs 486.75 on NSE. Around 21543 shares changed hands on the counter till 01:07PM (IST).

«We will get to know in the next few days how it goes, that typically means higher yields and stronger dollar, which is against what the market had factored in. But the underlying reason is that our valuations were rich and earnings are not supporting it, that is causing and compounding the problem,» says Gurmeet Chadha, Complete Circle Consultants. There are geopolitical events, there are elections in US, US markets are holding on, Asian markets are holding on, but India is reacting to what could happen to American elections. So, why are we pre-empting and reacting to every event in the world? Gurmeet Chadha: It has been a combination of two-three factors. I agree it has largely been FII sell-off, I mean, probably a record number in October. Never personally seen every single trading session, FII selling and that has been compounded by two things. One, the earnings and the monthly updates we get on different sectors, including auto and high-frequency sectors, which indicate economic momentum, have been a little underwhelming.

Tata Elxsi Ltd. 1.57 per cent to Rs 6995.40 in Monday's trade as of 12:53PM (IST) even as the benchmark Nifty ruled at 23869.4, 434.95 points. The scrip had closed at Rs 7107.70 in the previous session. The stock quoted a 52-week low of Rs 6406.60 and a high of Rs 9191.10. The company quoted a market-cap of Rs 43595.73 crore on the BSE.

Sensex has lost over 7,700 points in a matter of just 5 weeks or 25 trading sessions. After hitting a record high of 85,978 points on 27 September, Sensex fell for four consecutive weeks before consolidating in the Diwali week. Ahead of two key events — the US election and the Fed meeting — traders chose to opt for a risk-off mode on Monday when the Sensex fell nearly 1,500 points. Nifty fell about 2% to 23,800 — its lowest level since August 6.

Nilesh Shah, MD, Kotak AMC, says the returns we have seen in the last three and five years are unlikely to be repeated over the next three and five years. Last five years’ returns from Jan ‘20 to September ‘24 were about 21% for the broad market and about 30% plus for small and midcap. Those returns are unlikely to be repeated over the next three or five years. The returns could still be in the low double digits, if there is a fair possibility that India continues to deliver and our peers continue to score a self-goal. In the last couple of weeks, it has been local versus global. Globally, things are okay, locally, things are bad. Do you think this trend of local versus global will continue? Nilesh Shah: In some sense, local and global are two opposite sides of a coin and in some sense they are on the same side. If stock prices go up, both local and global investors benefit. But the driver for local and global investors could be different. Global investors have a much wider plate to invest into. Local investors, by definition, are constrained to invest in India. Global investors often come down or top down, though many of them have established offices in India.

Cholamandalam Investment & Finance Company Ltd. 2.0 per cent to Rs 1258.30 at 12:22PM hours (IST) on Monday. Earlier in the day, the stock saw a gap up start to the session. As per data available on BSE, total traded quantity on the counter stood at 14,365 shares with a turnover of Rs 1.81 crore till 12:22PM (IST). The stock traded at a price-to-earnings (P/E) multiple of 27.52, while the price-to-book value ratio stood at 4.96.

Adani Power Ltd. traded 1.28 per cent in Monday's session at 12:31PM (IST). The stock opened at Rs 597.10 and has touched an intraday high and low of Rs 597.10 and Rs 586.15, respectively, during the session so far. The stock quoted a 52-week high of Rs 896.75 and a 52-week low of 365.55. About 71,202 shares changed hands on the counter so far.

Afcons Infrastructure surged 8.4% to Rs 461.7 on the NSE after their weak debut on the exchanges on Monday. The stock debuted at Rs 426 on the NSE, reflecting a discount of Rs 37 or 8% over the IPO price of Rs 463. Meanwhile, the stock debuted 7% lower at Rs 430 on BSE.