M&M Hits Record SUV Sales, Azad Engineering Soars, Oil Marketing Companies Slide, IPO Highlights Swiggy, Reliance Jio, Niva Bupa Healthcare

Market Snapshot

• Indian markets declined on November 4 due to sustained foreign investor selling and weaker-than-expected September quarter earnings.
• This decline is attributed to profit booking and increased volatility ahead of the U.S. presidential election and anticipated Federal Reserve rate decisions.
• BSE MidCap and SmallCap indices down by 1.3 percent and 1.65 percent, respectively.

Sectoral Trends

Technical Outlook: Key Indices

Top News

• Mahindra & Mahindra stock gained over 2 percent following the company’s impressive 25 percent year-on-year increase in SUV sales, hitting a record high of 54,504 units in October—marking its best-ever monthly performance.
• Azad Engineering shares jumped 8% after securing a ₹700 crore long-term contract with Mitsubishi Heavy Industries for supplying advanced turbine components.
• Shares of oil marketing companies (IOCL, BPCL, HPCL) fell up to 5% after Goldman Sachs issued a bearish outlook, citing weak marketing and refining performance in Q2FY25 results.
• ACME Solar Holdings IPO: Renewable Energy Giant Eyes Rs 2,900 Cr Public Issue
• Swiggy sets price band between Rs. 371-390
• Reliance Jio IPO set for 2025
• Niva Bupa Healthcare to launch Rs 2,200 crore IPO on November 7

Trade Ideas Update

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