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Jubilant Surges, Max Healthcare Expands, Hindalco Beats Estimates in Q2 FY25
Jubilant Surges, Max Healthcare Expands, Hindalco Beats Estimates in Q2 FY25
Written by - Fisdom Research
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November 12, 2024
2 minutes
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Market Snapshot
Indian indices opened higher on mixed global cues, with Nifty initially crossing 24,200 before erasing gains in early hours and trading flat in the first half.
Profit booking intensified, pushing the Nifty below 23,900 and closing near the day’s low.
All sectoral indices ended in the red, with auto, bank, capital goods, FMCG, metal, oil & gas, power, telecom, media, and pharma sectors down between 0.5% and 2%.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY REALTY
0.2
NIFTY PHARMA
-0.9
NIFTY IT
0.1
NIFTY OIL & GAS
-0.9
NIFTY MEDIA
-0.6
NIFTY PRIVATE BANK
-1.1
NIFTY HEALTHCARE INDEX
-0.8
NIFTY CONSUMER DURABLES
-1.4
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
23,800
24,300
Bank Nifty
51,000
52,000
Top News
Jubilant Foodworks surged over 6% after reporting Q2 FY25 earnings, with a consolidated net profit of Rs 66.53 crore, though down 31.55% year-on-year from Rs 97.2 crore.
Max Healthcare shares climbed 4% on November 12, completing its acquisition of a 64% stake in Jaypee Hospital at an enterprise value of Rs 1,660 crore, with an option to acquire the remaining 36%.
Hindalco rose over 2% after its Q2FY25 earnings exceeded estimates, reporting a net profit of Rs 3,909 crore, a YoY increase from Rs 3,298 crore, while revenue grew 7% to Rs 58,203 crore.
LG India taps Axis Capital for its upcoming $1.5bn IPO
Paramesu Biotech files draft papers for Rs. 600 crore IPO
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