Torrent Power Gains 6% on Major MSEDCL Energy Storage Contract; Ajmera Realty, Vodafone Idea, and FMCG Stocks See Mixed Moves

Market Snapshot

• Indian benchmark indices ended marginally lower on October 9 after a volatile session, as last-hour selling erased intraday gains.
• The Reserve Bank of India (RBI) kept key policy rates unchanged, citing concerns over inflation and geopolitical tensions, while shifting its stance from ‘withdrawal of accommodation’ to ‘neutral.’
• The Monetary Policy Committee held the repo rate steady at 6.5% for the 10th consecutive time, with MSF and SDF rates also unchanged at 6.75% and 6.25%, respectively.

Sectoral Trends

Technical Outlook: Key Indices

Top News

• Torrent Power surged over 6% after securing a long-term contract from MSEDCL for 2,000 MW energy storage from its upcoming Pumped Hydro Storage Plant.
• Ajmera Realty rose 4% following a 20% year-on-year growth in collections for the September quarter, though sequential collections fell 20%.
• Vodafone Idea dropped 3% as investors booked profits after a 4% gain, while the DoT issued a notice regarding non-payment of bank guarantees for past spectrum dues.
• The FMCG index fell over 1% as the RBI highlighted unseasonal rains and geopolitical tensions as causes of rising commodity price volatility.
• Hyundai Motor plans to offload 14.2 crore shares in upcoming mega IPO
• Sebi approves NSDL IPO, HDFC Bank to pare stake

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