Research
Periodic Report
Gland Pharma Soars, Titan and Dr. Reddy’s See Profit Declines, Upcoming IPOs in Focus
Gland Pharma Soars, Titan and Dr. Reddy’s See Profit Declines, Upcoming IPOs in Focus
Written by - Fisdom Research
Array
November 5, 2024
2 minutes
Array
Market Snapshot
Domestic benchmark indices experienced a strong recovery on November 5, reversing earlier losses from the morning session.
Bearish sentiment in the first half of the day weighed on the indices, but a sharp rebound, driven by banking sector gains, helped push them above the previous session’s low.
Metal stocks provided additional support, while mid and small-cap stocks also rose, though they lagged behind the performance of the benchmark index.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY METAL
2.8
NIFTY PSU BANK
1.8
NIFTY FINANCIAL SERVICES
2.0
NIFTY AUTO
1.1
NIFTY BANK
1.9
NIFTY OIL & GAS
0.8
NIFTY PRIVATE BANK
1.9
NIFTY REALTY
0.6
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
23,800
24,400
Bank Nifty
51,500
52,600
Top News
Gland Pharma shares surged over 13% after the company’s July-September earnings report, with brokerages suggesting that the drugmaker may have moved past its worst phase.
Dr. Reddy’s Laboratories Ltd announced a 15% decline in net profit to ₹1,255 crore for the quarter ended September 30, 2024, impacted by pricing pressure in the competitive North American market, their largest revenue source.
Titan Ltd, a jeweler and watchmaker, reported a 25% drop in net profit to ₹705 crore for the quarter ended September 30, 2024, compared to ₹940 crore a year ago. Despite the profit fall, total income grew 24% year-on-year to ₹12,458 crore in Q2FY25.
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
Our trade ideas success rate has 64% over the past month, even with increased volatility in the benchmark index. Follow Trade Ideas for timely stock insights.
