Domestic equity markets were trading around the day's low in Wednesday's early noon deals amid a fresh round of selling in select heavyweights like Hindustan Unilever, HDFC and ITC. At 12:07 pm, the S&P BSE Sensex was trading at a loss of 250.04 points or 0.41% at 61,466.01. The Nifty 50 index was 100.90 points or 0.55% down at 18,317.85. Meanwhile, certain stocks were in action in either direction based on reports linked to them. Here is a list of few such stocks:

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Buzzing stocks

Union Bank: Up 6.28%.
SBI: Up 3.35%.
Oriental Hotels: Up 4.64%.
Indian Hotels: Up 2.23%.
Devyani International: Up 2.18%
Radico Khaitan: Up 2.51%.
Shoppers Stop: Up 2.62%.
Tanla Platform: Up 2.14%.
IDBI Bank: Up 3.08%.
TCNS Clothing: Up 3.72%.
BEML: Up 2.49%.
Tech Mahindra: Up 1.68%.
Sobha Ltd.: Up 1.07%.
Coforge: Up 1.41%.
HCL Technologies: Up 1.82%.

Telecom Stocks: On a move. Stocks like Bharti Airtel - up 3.73%; Vodafone Idea - up 4% and Indus Tower - up 2.07% were trading with gains.
Footwear Stocks: On a move. Stocks like Bata India - up 2.69%; Khadim - up 3.11%; Mirza International - up 1.28%; Liberty Shoes - up 0.90% and Sreeleathers - up 0.75% were trading with gains.

Dropping Stocks

IRCTC: Down 15.01%.
Deepak Nitrite: Down 8.34%.
IEX: Down 7.58%.
Dixon Technologies: Down 6.40%.
Vedanta: Down 3.53%.
Coal India: Down 2.90%.
Tata Power: Down 1.63%.
Bajaj Finserv: Down 1.50%.
Bajaj Auto: Down 1.11%.
HDFC: Down 1.19%
HDFC Bank: Down 1.17%.
Hindustan Unilever: Down 1.97%.
ITC: Down 1.18%.
Motherson Sumi: Down 0.96%.
Tata Steel: Down 0.93%.
Reliance Industries: Down 0.91
NTPC: Down 0.80%.

Earnings Impact

ACC: Up 3.39%. The leading cement manufacturer of India has reported a 23.6% YoY rise in the profit on a standalone basis at Rs 449 crore for the quarter ended September 30, 2021 (Q3CY21). It had posted a profit of Rs 363 crore in the year-ago quarter (Q3CY20). ACC Ltd follows a January to December financial year. Sales grew 5.9% YoY to Rs 3,749 crore as compared to Rs 3,537 crore posted last year. EBITDA stood at Rs 712 crore, up 6% YoY, from Rs 670 crore posted last year. The margin remained flat at 18.9%. The cement maker's cement sales volume grew by 1% YoY at 6.6mt.

Mastek: Down 13.34%. The software company has reported a 4% QoQ rise in the consolidated profit at Rs 72 crore for the quarter ended September 30, 2021. It had posted a profit of Rs 69 crore in the previous quarter ended June 30, 2021. Revenue from operations grew 3% to Rs 534 crore in the period under consideration from Rs 516 crore posted in the June quarter. Dollar revenues grew 2.5% QoQ at $7.2 crore as compared to $7.02 crore posted in the previous quarter. EBIT remained unchanged at Rs 103 crore in both quarters. Margin dropped slightly to 19.3% in Q2FY22 as compared to 20% posted in Q1FY22. 

Navin Fluorine: Down 5.30%. The chemicals company Navin Fluorine International Ltd. has reported a 7% YoY decline in the consolidated profit at Rs 63 crore for the quarter ended September 30, 2021 (Q2FY22), as compared to a profit of Rs 68 crore posted in the year-ago quarter (Q2FY21). Revenue from operations grew 6% YoY to Rs 339 crore as compared to Rs 319 crore posted last year. EBITDA stood at Rs 84 crore, down 8% YoY, from Rs 91 crore. Besides, the company has declared an interim dividend of Rs 5 per equity share having the nominal value of Rs 2 each for the financial year ending March 31, 2022.

ICICI Prudential: Down 5.06%. The private sector life insurer ICICI Prudential has reported a 46.5% YoY jump in profits on a standalone basis at Rs 444 crore for the quarter ended June 30, 2021. It had posted a profit of Rs 303 crore in the year-ago quarter. Net premium earned during the September 2021 quarter rose 8.3% at Rs 9,286 crore compared to Rs 8,572 crore posted in the year-ago quarter. The company had Covid-19 claims (net of reinsurance) of Rs 862 crore. Net income growth was driven by the growth in the value of the new business and a massive jump in investment income.
 

Nestle: Down 0.78%. FMCG Giant on Tuesday reported a 5.2% YoY rise in the profit at Rs 617.4 crore for the quarter ended September 30, 2021 (Q3CY21). It had posted a profit of Rs 587.1 crore in the year-ago quarter. Nestle India follows a January to December financial year. Revenue from operations rose 9.6% YoY to Rs 3,882.6 crore compared to Rs 3,541.7 crore posted last year. EBITDA grew 5.8% YoY to Rs 952 crore compared to Rs 900 crore posted last year. Margins contracted to 24.5% in Q3CY21 compared to a margin of 25.4% posted in Q3CY20. The revenue growth came mainly from broad-based domestic sales growth which increased by 10.1% and was largely driven by volume and mix. Exports witnessed a marginal growth of 1.3% against the expectation of 7% growth. Besides, Nestle has declared a second interim dividend of Rs 110 per share and October 27, 2021, has been fixed as the record date for the purpose.

LTTS: Down 0.64%. Engineering services firm L&T Technology Services (LTTS) reported a 6.5% QoQ rise in the consolidated profit at Rs 230 crore for the quarter ended September 30, 2021. It had posted a profit of Rs 216 crore in the previous quarter ended June 30, 2021. Revenue from operations grew 5.9% YoY to Rs 1,608 crore as compared to Rs 1,518 crore posted in the previous quarter. Dollar revenues grew 5.5% QoQ at $21.74 crore in the reported quarter as compared to $20.6 crore posted in the previous quarter. EBIT stood at Rs 296 crore, up 13%, from Rs 262 crore posted in the previous quarter. The margin improved to 18.4% in Q2FY22 as compared to 17.3% posted in Q1FY22. Besides, LTTS has declared a special dividend of Rs 10 per share to mark the 5th anniversary of its IPO and fixed October 27, 2021, as the record date for the purpose. 

Stocks in News

IndusInd Bank: Up 0.54% In a bid to add to the festive fervour, IndusInd Bank today announced the launch of EMI (Equated Monthly Instalments) facility on Debit Cards to enable its customers to convert their high-value transactions into easy instalments.

Ganesha Ecosphere: Up 1%. Applied DNA Sciences, Inc., a leader in Polymerase Chain Reaction (PCR)-based DNA manufacturing and nucleic acid-based technologies, today announced signing a mutual collaboration agreement with Ganesha Ecosphere Ltd., the largest recycled polyester (rPET) fibre producer in India with over 300-plus customers, 250-plus suppliers, and 500-plus product variants. Under the terms of the Agreement, Ganesha will deploy the CertainT® platform, Applied DNA's traceability system, to tag an initial pilot production of recycled polyester (rPET) at Ganesha's facilities in India and conduct confirmatory sample testing at Applied DNA's laboratories in India and the U.S.

Deepak Fertilizers: Down 2.08%. The Board of Directors of the Company has approved resolutions for raising funds by way of issue of equity shares, through a qualified institutions placement. It has authorized the opening of the issue on October 19, 2021, and the floor price for the Issue is Rs 422.48 per equity share. Besides, the Board is scheduled to meet on October 22, 2021, to consider and approve Meeting of the Securities Issue Committee is scheduled to be held on October 22, 2021, to inter alia consider and approve the issue price, including a discount, if any thereto, and to consider, determine, and approve the date of closing of the Issue. The Company may at its discretion offer a discount of not more than 5% on the floor price for the issue. 

Astral Ltd: Down 2.05%. The Board of Directors has decided to enter the business verticals of Faucets & Sanitaryware as a part of its growth strategy to leverage the brand ASTRAL. The Faucet & Sanitaryware division has a market potential of Appx. Rs 15,000 crores in India. The company has appointed Mr. Atul Sanghvi, as President (Faucets & Sanitaryware division) to head this vertical.

Sterling and Wilson Solar: Down 1.44%. The company, reportedly, has plans to sell its textile units of Karnataka and raise upto Rs 1,000 crore by March. It has plans to raise Rs 10,000 crore from asset sales by March 2022.