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Tata Consumer Falls 7%, HDFC Bank Gains 3%, Kotak Drops 5%, and IPO Updates on Waaree, Godavari, Afcons
Tata Consumer Falls 7%, HDFC Bank Gains 3%, Kotak Drops 5%, and IPO Updates on Waaree, Godavari, Afcons
Written by - Fisdom Research
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October 21, 2024
2 minutes
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Market Snapshot
After a smart recovery in the previous session, the market faced pressure on Monday (October 21), with broad-based selling across sectors, except auto.
All sectoral indices, except auto, ended in the red, with FMCG, metal, capital goods, power, realty, IT, oil & gas, and media falling 1-3%.
The BSE Midcap and Smallcap indices dropped 1.5% each.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY AUTO
0.4
NIFTY CONSUMER DURABLES
-0.6
NIFTY FINANCIAL SERVICES
0.1
NIFTY HEALTHCARE INDEX
-0.8
NIFTY BANK
-0.3
NIFTY PHARMA
-1.0
NIFTY MIDSMALL HEALTHCARE
-0.4
NIFTY PSU BANK
-1.1
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
24,500
25,200
Bank Nifty
50,000
52,500
Top News
Tata Consumer Products shares fell over 7% after a lackluster Q2, with net profit flat at ₹359 crore and revenue up 13% to ₹4,200 crore.
HDFC Bank shares rose 3% after strong Q2 results, despite minor asset quality issues. Brokerages predict up to 28% potential upside.
Kotak Mahindra Bank shares dropped nearly 5% after Q2 results missed estimates. The bank’s profit grew 5% YoY to ₹3,344 crore, leading some brokerages to cut target prices.
Waaree Energies IPO: Issue subscribed 3.32 times on Day 1; retail portion booked 317%
Godavari Biorefineries sets IPO price band at Rs 334-352 per share
Afcons Infrastructure IPO to open for subscription on October 25
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