Ramco, Sula, Globus Decline as Q2 Earnings Disappoint

Market Snapshot

• The Sensex and Nifty ended significantly lower on November 13, marking the fifth straight session of losses, driven by inflation worries and a sell-off in metal stocks.
• The Nifty has now fallen close to 10 percent from its record high of approximately 20,200 reached on September 27.
• All 13 major sectoral indices closed in the red, with auto, banking, metal, PSU banks, media, and realty sectors leading the decline, each dropping between 2-3 percent.

Sectoral Trends

Technical Outlook: Key Indices

Top News

• The Ramco Cements dropped over 3% after weak Q2FY25 results showed a 64% YoY fall in net profit to Rs 25.7 crore and a 12.7% revenue decline to Rs 2,044 crore, marking continued underperformance with a 13% year-to-date drop despite positive returns from August to October.
• Sula Vineyards shares slipped sharply after reporting a 37% YoY drop in net profit to Rs 14.48 crore for Q2FY25, reflecting a weaker-than-expected earnings performance.
• Globus Spirits fell over 16% for a second consecutive day on muted Q2FY25 results, with net profit down 88% YoY to Rs 1.5 crore despite an 18% revenue increase to Rs 875 crore, extending its one-month loss to over 20%.
• 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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