Earnings Propel CARE and Piramal Pharma Stocks While Tata Comm Launches AI, Afcons IPO in Focus

Market Snapshot

• Indian stocks struggled to gain momentum on Thursday, October 24.
• Significant declines in FMCG and realty stocks dragged frontline indices to a flat close.
• Banking stocks, especially from the public sector, offered some support.
• However, the gains in banking stocks were not enough to lift the overall indices higher

Sectoral Trends

Technical Outlook: Key Indices

Top News

• CARE Ratings stock surged 20 percent on October 24 after reporting a 31 percent YoY growth in consolidated profit for the September quarter, with revenue from operations rising 22 percent YoY to Rs 117 crore.
• Tata Communications shares rallied as the company announced the launch of AI infrastructure integrated with NVIDIA-accelerated computing, bringing advanced NVIDIA solutions to its AI Cloud offerings.
• Piramal Pharma shares jumped 18 percent following a strong Q2 performance, with net profit soaring 3.5 times YoY to Rs 22.59 crore, up from Rs 5.02 crore in Q2 FY24.Godavari Biorefineries sets IPO price band at Rs 334-352 per share
• IPO bound Swiggy slashes valuation target by 10-16%
• Afcons Infrastructure IPO to open for subscription on October 25

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