Domestic equity markets were trading with minor gains amid mixed cues from global peers in the afternoon deals of Wednesday. At 12:48 pm, the S&P BSE Sensex was trading 110.52 points or 0.18% higher at 61,460.78. Nifty 50 index was 38.10 points or 0.21% up and was trading at 18,306.50. Meanwhile, certain stocks were in action in either direction based on reports linked to them. Here is a list of a few such stocks:

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

See Zee Business Live TV Streaming Below:

Buzzing stocks 

PSU Banks: On a move with Nifty PSU Bank index trading 2.38% higher. Stocks like SBI - Up 2.38; K&K Bank - up 5.50%; Bank of India - up 2.10%; PNB - up 2.07%; Union Bank - up 1.87%; Indian Bank - up 1.77 per cent; Bank of Baroda - up 1.70 per cent among others except Central Bank were trading in positive territory.  

Hosiery Stocks: On a move. Stocks like Dollar Industries - up 4.85%; Rupa and Company - up 3.96%; Page Industries -  up 1.39% and Lovable Lingerie - up 3.34% were trading with gains.
Paper Stocks: On a move. Stocks like JK Paper - up 5.90%; Star Paper - up 2.43%; Pudumjee Paper - up 3.39% and Malu Paper - up 2.32% were trading with gains.

Paint Stocks: On a move. Stocks like Asian Paints - up 3.48%; Berger Paints - up 0.86% and Pidilite - up 2.45% were trading with gains.

Logistics Stocks: On a move. Stocks like Patel Integrated Logistics Ltd - up 6.32%; Allcargo Logistics - up 2.79% and Sical Logistics - up 2.19%- were trading with gains.

Sequent Scientific: Up 12.67%.
Anup Engineering: Up 11.69%
Tatva Chintan: Up 7.09%.
Hikal: Up 8.90%
AksharChem (India): Up 6.11%.
Godfrey Phillips: Up 4.18%.
KIOCL: Up 3.22%.  
Greaves Cotton: Up 3.39%.
PFC: Up 2.66%.
REC: Up 2.93%.
JSW Energy: Up 1.42%.

Stocks at Life Highs 

SBI: Up 2.38%. Meanwhile, the stock hit the life high at Rs 523.70 per share earlier in the intraday trade today.

Kotak Mahindra Bank: Down 0.24%. Meanwhile, the stock hit the life high at Rs 2,253.00 per share earlier in the intraday trade today.

TCI Express: Up 3.71%. Meanwhile, the stock hit the life high at Rs 1,959 per share earlier in the intraday trade today.

Triveni Turbine: Up 14.02%. Meanwhile, the stock hit the life high at Rs 195.90 per share earlier in the intraday trade today. At the time of filing the story the stock was trading around the life high at Rs 193.55 per share.

Escorts: Up 0.26%. Meanwhile, the stock hit the life high at Rs 1,579.95 per share earlier in the intraday trade today.

Tanla Platform: Up 2.27%. Meanwhile, the stock hit the life high at 1,230.80 per share earlier in the intraday trade today.

Falling Stocks 

IRCTC: Down 1.34%.
Indo Count Industries: Down 6.05%

Earning Reactions 

Triveni Turbine: Up 14.02%. The original equipment manufacturer of steam turbines has reported 625% YoY rise in the consolidate profit at Rs 174 crore for the quarter ended September 30, 2021. It had posted a profit of Rs 24 crore in the year-ago quarter. Its revenue from operations rose 11% YoY to Rs 206 crore as against Rs 185 crore posted last year. EBITDA declined 21% to Rs 39 crore against Rs 49 crore posted last year. Margin contracted to 19% in Q2FY22 as against 27% posted in Q2FY21.

Zensar Technologies: Up 5.87%. The software company has reported a consolidated profit of Rs 96 crore for the quarter ended September 30, 2021. It had posted a profit of Rs 2.3 crore in the previous quarter ended June 30, 2021. Revenue from operations grew 12% to Rs 1,050 crore as against Rs 937 crore posted in the June quarter. EBIT fell 12% to Rs 114 crore as against Rs 130 crore posted in the previous quarter. The margin contracted to 11% in Q2FY22 as against 14% posted in Q1FY22. There was an exceptional item of Rs 89 crore in the previous quarter. 

Birlasoft: Up 1.55%. The software company has reported a 10% QoQ decline in consolidated profit at Rs 103 crore for the quarter ended September 30, 2021. It had posted a profit of Rs 114 crore in the previous quarter ended June 30, 2021. Revenue from operations grew 7% to Rs 1,012 crore as against Rs 945 crore posted in the June quarter. EBIT remained flat at Rs 132 crore. The margin dropped to 13% Q2FY22 as against 14% posted in Q1FY22.  

Persistent Systems: Up 3.75%. The technology services company Persistent Systems has reported a 6.9% QoQ rise in the consolidated profit at Rs 162 crore for the quarter ended September 30, 2021. It had posted a profit of Rs 151 crore in the previous quarter ended June 30, 2021. Its revenue from operations grew 9.9% to Rs 1,351 crore as against Rs 1,230 crore posted in the previous quarter. In dollar terms, the revenue grew 9.3% to $18.23 crore as against $16.68 crore posted in the June quarter. EBIT grew 12.5% QoQ to Rs 187 crore as against Rs 166 crore posted in the June quarter. The margin stood at 13.8% in Q2FY22 as against 13.5% posted in Q1FY22.  

Axis Bank: Down 5.35%. The private lender Axis Bank reported a 86% YoY rise in the profits at Rs 3,133 crore for the quarter ended September 30, 2021. It had posted a profit of Rs 1,683 crore in the year-ago quarter. Net Interest Income (NII) rose 8% to Rs 7,900 crore as against Rs 7,326 crore posted last year. The gross non-performing assets (NPA) of the lender came in at 3.53% in the quarter under consideration, lower than 3.85% reported in the previous quarter ended June 30, 2021. Meanwhile, the net NPA ratio during the quarter stood at 1.08% in Q2FY22 as against 1.2% posted in Q1FY22. Net slippages for the quarter dame down by 82% to Rs 707 crore as compared to the June 2021 quarter. The loan book grew by 10% and retail book by 16%. The lender's fresh slippages for the reported quarter came in at Rs 5,464 crore, lower than Rs 6,518 crore in the June 2021 quarter. Recoveries and upgrades from NPAs during the quarter were Rs 4,757 crore as against Rs 2,543 crore. 

Bajaj Finance: Down 4.01%. The leading non-banking finance company Bajaj Finance has reported a 53% YoY rise in the consolidated profit at Rs 1,481 crore for the quarter ended September 30, 2021. It has posted a profit of Rs 965 crore in the year-ago quarter. Its Net Interest Income (NII) grew by 28% to Rs 5,335 crore as against Rs 4,162 crore posted last year. The company said its Stage 3 gross assets stands at 2.45% in the period under consideration against 2.96% posted in the previous quarter ended June 30, 2021. The net non-performing assets (NNPA) came in at 1.1% as against 1.46% posted in the previous quarter. The company said its assets under management (AUM) grew by 21.74% YoY and 5% QoQ to Rs 1,66,900 crore as of September 30, 2021.  
Cipla: Up 0.81%. Drug major Cipla reported a 7.5% YoY rise in the consolidated profit at Rs 709 crore for the quarter ended September 30, 2021. It had posted a profit of Rs 659 crore in the year-ago quarter. Its revenue from operation grew 10% to Rs 5,520 crore as against Rs 5,038 crore posted last year. EBITDA grew 4.2% to Rs 1,226 crore as against Rs 1,177 crore posted last year. The pharmaceutical company's margin contracted to 22% in Q2FY22 as against 23.4% posted in Q2FY21.  
IRB Infrastructure: Down 9.99%. The highway construction company has reported a consolidated profit of Rs 42 crore for the quarter ended September 30, 2021. It had posted a loss of Rs 20 crore in the year-ago quarter. Its revenue from operations grew 30% to Rs 1,465 crore as against Rs 1,123 crore posted last year. EBITDA grew 33% YoY to Rs 682 crore as against Rs 513 crore posted last year. The margin stands at 47% in Q2FY22 as against 46% posted in Q2FY21. Besides, IRB Infrastructure Developers Limited will raise Rs 5,347 crore through preferential allotment. In the process, it will buy 24.9% stakes in Spanish infrastructure major Ferrovial for Rs 3,180 crore and 16.9% stakes in Singapore’s GIC for Rs 2,167 crore. The issue price for both the preferential allotments is Rs 211.79 per share. The proceeds from the twin investments will be used to reduce debt and investment in projects. The promoter of IRB will continue as the promoter and single largest shareholder post completion of the transactions with an approximate 34% stake and will retain management control of IRB. EGM convened on November 20 for shareholders' approval on the deal. 

Accelya Solutions: Down 7.59%. The global technology and service provider to the air transport industry has reported a 22% QoQ drop in consolidated profit at Rs 14 crore for the quarter ended September 30, 2021. It had posted a profit of Rs 18 crore in the previous quarter ended June 30, 2021. Revenue from operations fell 1% to Rs 85 crore as against Rs 86 crore posted in the June quarter. EBITDA dropped 16% to Rs 27 crore as against Rs 32 crore. The margin contracted to 31% in Q2FY22 as against 37% posted in Q1FY22.  

Torrent Pharma: Down 2.02%. The pharmaceutical company has reported a 2% YoY rise in the profits at Rs 316 crore for the quarter ended September 30, 2021. It had posted a profit of Rs 310 crore in the year-ago quarter. Its revenue from operations grew 6% YoY to Rs 2,137 crore as against Rs 2,017 crore posted last year. EBITDA grew by 4% to Rs 660 crore as against Rs 635 crore posted last year. Margin stood at 31% in Q2FY22 as against 31.5% posted in Q2FY21.
 

Dr Lal Path Labs: Down 1.36%. The service provider of diagnostic and related healthcare tests has reported an 11% YoY rise in the consolidated profit at Rs 96 crore for the quarter ended September 30, 2021. It had posted a profit of Rs 87 crore in the year-ago quarter. Its revenue from operations grew 15% to Rs 498 crore as against Rs 432 crore posted last year. EBITDA grew 11% to Rs 141 crore as against Rs 127 crore posted last year. Margin fell to 28% in Q2FY22 as against 29.3% posted in Q2FY21. Besides, the Board of Directors on Tuesday approved the acquisition of a 100% stake in Suburban Diagnostics (India) for a consideration of Rs 1,150 crore plus certain performance-linked payments capped at Rs 225 crore. The acquisition will be completed within a month.  

Stocks in News 

Larsen & Toubro Infotech: Up 1.60%. The global technology consulting and digital solutions company has become a Microsoft Azure Expert Managed Services Provider. This recognition signifies LTI’s expertise in Azure capabilities to help clients accelerate their digital transformation journey.

Ramkrishna Forgings: Down 0.97%. The leading suppliers of rolled, forged and machined products has acquired an order worth Rs 150 Million. to supply fabrication parts to one of the biggest players in the energy segment.

Mahindra Lifespace Developers: Up 0.95%. The real estate arm of Mahindra Group has finalised terms for joint development on a 4.8-acre land parcel in Dahisar East. Strategically located on the Western Express Highway, this is Mahindra Lifespaces’ first project in Dahisar and will offer approximately 5 lakh sq. ft. of carpet area.

Cyient Limited: Up 0.85%. Cyient today announced the launch of its management consulting practice under the umbrella of Cyient Consulting. This marks Cyient’s first foray into this space. The global management consulting services market is expected to cross $1.2 Trillion by 2025.  

Union Bank: Up 0.83%. The Union Bank of India has reduced its home loan rates to its all-time low of 6.40% from 6.80%. The reduced rate will be effective from Wednesday (October 27, 2021).

Aurionpro: Down 2.42%. Aurionpro Fintech Inc., an Aurionpro subsidiary based in the USA, announces an order win from one of the largest Payment Facilitators in the USA which offers merchant payment services in the insurance financing segment. The order is for the license of Aurionpro Payment Framework Software (“APF Software”) and allied services including customization & development services in relation to. The order is valued at US$ 1.3 Million (Rs 10 crores appx.) and will be delivered in two phases by March 2022.