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Q2 Profits Drive Stock Gains for Kalpataru, JSW Infra, and Bharat Electronics
Q2 Profits Drive Stock Gains for Kalpataru, JSW Infra, and Bharat Electronics
Written by - Fisdom Research
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October 29, 2024
2 minutes
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Market Snapshot
Indian benchmark indices extended gains for a second consecutive session on October 29, with the Nifty closing above 24,450, driven by realty and financial stocks.
Sector-wise, banking and realty indices led the gains, while auto and pharma stocks saw corrections.
Mid and small-cap stocks outperformed the frontline index, reflecting strong interest in broader markets.
Among sectoral performances, banking, realty, power, and capital goods gained 1-2%, while pharma, IT, and auto declined by 0.5-1%.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY PSU BANK
3.6
NIFTY REALTY
1.4
NIFTY FINANCIAL SERVICES
2.1
NIFTY CONSUMER DURABLES
0.7
NIFTY BANK
2.1
NIFTY METAL
0.7
NIFTY PRIVATE BANK
1.5
NIFTY OIL & GAS
0.3
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
24,000
24,500-24,700
Bank Nifty
50,400
51,500-51,700
Top News
Kalpataru Projects International jumped 7% after posting a nearly 40% YoY rise in net profit to Rs 125.6 crore for Q2, driven by a strong order book and improved EBITDA margin of 6.9%.
JSW Infra surged up to 10% as Q2 net profit rose 46% YoY to Rs 372 crore, with revenue up 18% and EBITDA margin expanding to 67.5%.
Bharat Electronics gained 5% after beating earnings estimates in Q2 with a 34% rise in net profit to Rs 1,091.27 crore, supported by a solid order book and strong EBITDA margin of 30.4%.
Afcons Infrastructure IPO receives 51% subscription on Day 2
Swiggy sets price band between Rs. 371-390
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