Tarun Beverages Gains, Paytm and PNC Infratech Slide, Multiple IPOs See Strong Interest

Market Snapshot

• On October 22, Indian benchmark indices faced pressure from extended selling, weak global cues, and poor sectoral performance.
• All sectoral indices ended in negative territory, with auto, capital goods, metal, power, realty, telecom, media, and PSU banks falling by 2-3%.
• The broader market also saw significant declines, with the BSE Midcap index down 2.5% and the Smallcap index dropping 3.8%.

Sectoral Trends

Technical Outlook: Key Indices

Top News

• Varun Beverages shares rose 3% after posting a 22% profit increase to ₹630 crore in the September 2024 quarter, driven by stronger distribution and demand.
• Paytm shares dropped 6% after reporting a Q2FY25 net profit of ₹930 crore, driven by a one-time gain of ₹1,345 crore from the sale of its movie ticketing business to Zomato. Last year, it posted a net loss of ₹290.5 crore.
• PNC Infratech shares fell 7% after being disqualified from tenders for a year, following a CBI probe into bribery related to the Jhansi-Khajuraho project.
• Deepak Builders IPO subscribed 7.5 times so far on Day 2.
• Godavari Biorefineries sets IPO price band at Rs 334-352 per share
• Waaree Energies IPO subscribed nearly 9 times on Day 2,
• Afcons Infrastructure IPO to open for subscription on October 25

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