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Nifty50 and Sensex ended lower on Monday as weak earnings and renewed profit-booking offset a post-results rally in top private lender HDFC Bank. The Nifty50 fell 0.29% to 24,781, while the BSE Sensex closed 0.09% lower at 81,151. Both indices fluctuated between early gains of around 0.4% and a midday decline of nearly 0.7%, before staging a partial recovery.

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CG Power and Industrial Solutions on Monday reported a nearly 10 per cent decline in its consolidated profit after tax to Rs 220 crore for three months ended September 2024. Its profit after tax (PAT) was Rs 244 crore in the year-ago quarter. Aggregate sales for the quarter increased 21 per cent to Rs 2,413 crore during the July-September quarter of the current fiscal from Rs 2,002 crore in the same quarter of 2023-24, the company said in a stock exchange filing.

Precision engineering and manufacturing company Balu Forge Industries on Monday reported a 107% year-on-year jump in its consolidated net profit for the quarter ended September 30, 2024 at Rs 48 crore which was up from Rs 23 crore reported by the company in the year ago period. The company in which ace investor Ashish Kacholia has a 1.82% stake, reported a revenue growth of 60% YoY at Rs 223 crore in Q2FY25 compared to Rs 139 crore in Q2FY24 because of the constant focus on client addition and continued demand for the specialized engineering products.

Mahindra Logistics Ltd on Monday reported 54 per cent decline in standalone Profit After Tax (PAT) at Rs 8.5 crore for September quarter FY25. The company had posted a PAT of Rs 18.6 crore in the second quarter of FY24, a statement said. Revenue during the quarter under review, however, increased 9 per cent to Rs 1,236 crore from Rs 1,136 crore in July-September FY24.

Benchmark NSE Nifty closed 72.96 points down at 24781.1 amid selling in frontline bluechip counters.

KCP Sugar & Industries Corporation Ltd.(up 1.27%) stood among the top gainers.

The underlying trend of Nifty remains weak within range movement. Having failed to sustain the recent upside bounce, the market could revisit the lower range of 24,600-24,500 levels in the near term. Immediate resistance is at 25,000 levels, said Nagaraj Shetti of HDFC Securities.

After proceeding at a tentative, 25-basis-point cut pace in the first three interest rate cuts of its cycle, many economists expect the Bank of Canada will take an oversized step lower in its upcoming decision on Wednesday.

JP Morgan has initiated coverage on Ultratech Cement and 3 other cement stocks with an upside potential of up to 31% on the belief that the sector is set for consolidation with the larger players likely to become more aggressive. “India cement sector looks set for consolidation with the larger players turning aggressive,” said JP Morgan in its note.

Losses for the July-September 2024 period are likely to widen up to Rs 660 crore from Rs 290 crore in the same period of last year. Meanwhile, revenue from operations is seen growing up to 16% year-on-year (YoY).

Chair of ESMA, Verena Ross, told the Financial Times that an effective regulatory and supervisory framework is lacking within the EU and therefore «is one of the areas that we need to focus on».  Ross made the case for a sector-by-sector analysis to «evaluate in which areas it would make sense to move a step further to central EU supervision».  European watchdogs call for overhaul of sustainable labels in SFDR review «We need to look particularly at all the cross-border systematically important infrastructure players,» the ESMA chair added, a measure that would include exchanges an...

«I do not see more than 3% to 5% kind of a price correction. But, however, in terms of broader market, we might see some more amount of correction and valuation comfort to still emerge,» says CA Rudramurthy BV, MD, Vachana Investments. After 100 points move on the upside that we had seen on Friday, again, markets are down around 100 odd points, how is the Nifty charts in fact looking like on the technical front. CA Rudramurthy BV: For me if you take a medium to longer timeframe horizon on market, we have seen already a very-very good rally and now we should see some amount of time-wise correction and that will be very healthy for markets for medium to longer timeframe.

Afcons Infrastructure will open for subscription on October 25 and bidding for the issue can be done till October 29. Through the IPO, the Shapoorji Pallonji Group's infrastructure engineering and construction company plans to raise around Rs 5430 crore. The company has fixed a price band of Rs 440-463 per share, where investors can bid for 32 shares in one lot.

Pidilite Industries Ltd. traded at Rs 3158.2 on BSE at 01:33PM (IST) on Monday, down 0.83 per cent. The stock quoted a 52-week low price of Rs 2293.1 and a high of Rs 3414.4. Earlier in the day, the stock saw a gap down opening.

Marico Ltd. slipped 1.09 per cent to Rs 661.85 in Monday's trade as of 01:28PM (IST). The stock hit a high price of Rs 669.35 and low of Rs 658.35 during the session.

SRF Ltd. rose 1.77 per cent to Rs 2284.3 in Monday's trade. It hit an intraday high of Rs 2335.0 and low of Rs 2257.6, respectively, during the day. The stock quoted a 52-week high price of Rs 2697.45 and low of Rs 2081.25.

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Most technical and derivatives indicators point towards a consolidation this week, with markets likely to be further driven by quarterly earnings, FII flows, geo-politics, and global market sentiments, Aamar Deo Singh, Senior Vice President-Equity, Commodity & Currency at Angel One said. This analyst spells-out strategy in previous week’s major movers viz. Bajaj Auto, Avenue Supermarts (DMart), Adani Green Energy and three more stocks. Excerpts: A lackluster beginning after a poor show in the previous week where Nifty ended with weekly declines of 0.44%. What does the chart indicate about its trajectory and what are the important levels for Nifty and Bank Nifty? Markets witnessed choppy trading sessions last week with the benchmark index Bank Nifty saving the day. A sharp rally in ICICI Bank, Axis Bank, SBI and HDFC Bank helped in the benchmark indices recover from the lows of the week with Nifty ending lower with weekly decline of 0.44% whereas Bank Nifty ended the week in the green, up 1.8% WoW.

Info Edge (India) Ltd. dropped 1.56 per cent to Rs 7962.0 at 12:32PM (IST) in Monday's trade. The scrip hit a high of Rs 8161.1 and low of Rs 7960.85 so far during the session. The stock had closed at Rs 8088.3 in the previous session. The counter had a total traded volume of 12:32PM shares so far with a turnover of Rs 0.42 crore on BSE. The stock traded at a price-to-earnings multiple of 159.04 and a price-to-book ratio of 2.39.

<a rel=«dofollow» href=«https://economictimes.indiatimes.com/divi» s-laboratories-ltd. data-ga-onclick=«Inarticle articleshow link click#Markets#href» target="_blank">Divi's Laboratories Ltd. traded 0.96 per cent down in Monday's trade at 12:27PM (IST). Around 4,582 shares changed hands on the counter. The stock opened at Rs 6004.2 and touched an intraday high and low of Rs 6092.0 and Rs 5965.35, respectively, in the session so far. Shares of the company of <a rel=«dofollow» href=«https://economictimes.indiatimes.com/divi» s-laboratories-ltd. data-ga-onclick=«Inarticle articleshow link click#Markets#href» target="_blank">Divi's Laboratories Ltd. quoted a 52-week high of Rs 6276.2 and a 52-week low of Rs 3300.0.