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Cochin Shipyard’s Stake Sale, Rallis India’s Surge, KEI’s Margin Dip, and Hyundai’s Subscription Update, Upcoming IPOs
Cochin Shipyard’s Stake Sale, Rallis India’s Surge, KEI’s Margin Dip, and Hyundai’s Subscription Update, Upcoming IPOs
Written by - Fisdom Research
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October 16, 2024
2 minutes
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Market Snapshot
Indian stock market benchmarks, the Sensex and Nifty 50, declined for a second straight session on Wednesday, October 16, following weak global cues.
Realty, oil & gas, and telecom sectors gained, while auto, IT, pharma, and media slipped 0.5-1%.
BSE midcap ended flat; smallcap index rose by 0.3%.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY REALTY
0.6
NIFTY BANK
-0.2
NIFTY OIL & GAS
0.2
NIFTY METAL
-0.2
NIFTY FINANCIAL SERVICES
0.1
NIFTY FMCG
-0.4
NIFTY CONSUMER DURABLES
-0.2
NIFTY PHARMA
-0.4
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
24,413-24,795
25,300
Bank Nifty
50,500
52,000
Top News
Cochin Shipyard shares dropped 5% as the government’s 5% stake sale opened today. The offer-for-sale is priced at ₹1,540 per share, a 7% discount from the previous close.
Rallis India shares jumped over 13% as the company posted solid Q2 growth in profit, revenue, and profitability, delighting investors.
KEI Industries fell 7% as its EBITDA margin shrank by 70 basis points year-on-year to 9.7% in Q2, despite growth in both revenue and profit.
Gautam Solar to Raise Rs 1,000 Crore via IPO for Expansion
Hyundai India IPO subscribed 37% on Day 2 so far
Waaree Energies IPO to open for subscription on October 21
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