Bharti Airtel’s Profit Surge, IndiGo’s Setback, and Realty’s Strong Performance

Market Snapshot

• Indian equity markets rebounded on October 28, snapping a five-day losing streak with strong gains, as the Nifty approached 24,500 intraday amid buying across sectors, particularly banking and metal stocks.
• Despite mixed global cues, the indices opened positively and extended gains through the session, though profit booking at higher levels trimmed some intraday gains.
• All sectoral indices closed in the green, with the PSU Bank index up 3.8%, Metal index up 2.5%, and Pharma, Media, and Realty indices gaining over 1% each.

Sectoral Trends

Technical Outlook: Key Indices

Top News

• Bharti Airtel’s Q2 FY25 net profit soared 167% YoY to Rs 3,593 crore, driven by its India and Africa operations, though it fell short of Street expectations of Rs 4,398 crore.
• IndiGo’s parent company saw an 8% stock drop after posting a net loss of Rs 987 crore for Q2, yet brokerages stayed positive on the stock due to strong demand and global expansion strategies.
• DLF India’s largest realty firm jumped nearly 6% on reporting a 121% YoY rise in net profit to Rs 1,387 crore, with consolidated revenue climbing 48% to Rs 2,181 crore.
•  NTPC Green Energy gets SEBI nod for ₹10,000 crore IPO
• Swiggy aims to kick off $1.35 billion Indian IPO mid next week

Trade Ideas Update

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