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Indian Indices Continue Downtrend, Key Q2FY19 Results, and Top Stocks in Action Today
Wed, 24 Oct Pre-Open | Monish Vora, TM Team

Share markets in India continued their downtrend yesterday and ended in red. Sectoral indices traded in red, with stocks in the IT sector and healthcare sector leading the losses.

At the closing bell yesterday, the BSE Sensex stood lower by 287 points (down 0.8%) and the NSE Nifty closed down by 98 points (down 1%). The BSE Mid Cap index ended down 0.9%, while the BSE Small Cap index ended down by 1.2%.

Top Stocks in Focus Today

In the news from the pharma space, Cadila healthcare share price will be in focus today as the company has received the final approval from the US Food and Drug Administration (USFDA) to market Clobazam Tablets, (US RLD-ONFI Tablet), 10 mg and 20 mg.

To know more about the company, you can access Cadila Healthcare Q1FY19 result and Cadila healthcare 2017-18 Annual Report on our website.

In the news from the aviation sector, SpiceJet share price will also be in focus today as the company sought a three-month extension from a leasing company for making payments on aircraft leases as a delay in delivery of 737 Max planes by Boeing Co. has caused liquidity issues at the budget airline.

Market participants will also be tracking Sunteck realty share price.

Reportedly, the company has launched Phase I of its project Sunteck West World at Naigaon and has sold more than 2000 apartments out of the total inventory of 2476 apartments in Phase I with the sales of more than Rs 6 billion.

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Results Corner

TVS Motors share price has reported results for the second quarter ended September 30, 2018.

The company reported a marginal fall of 0.9% in its net profit at Rs 2.1 billion as compared to 2.2 billion for the same quarter in the previous year.

Bajaj Finance share price has reported 54% rise in its September quarter profit at Rs 9.2 billion as compared to Rs 5.9 billion in the same quarter previous year.

Consolidated net interest income (NII) for the company came in at Rs 27.3 billion for the above quarter, up 42%. This was against Rs 19.2 billion reported in the same quarter last year.

RBL bank share price has reported 35.8% rise in its net profit at Rs 2.1 billion for second quarter ended September 30, 2018 as compared to Rs 1.5 billion for the same quarter in the previous year.

Total income of the bank increased by 34.8% at Rs 18 billion for Q2FY19 as compared Rs 13.3 billion for the corresponding quarter previous year.

Asian paints share price reported 14.4% fall in its consolidated net profit at Rs 4.9 billion as compared to Rs 5.8 billion for the same quarter in the previous year.

From the IPO Space...

In the news from the IPO space, Affle India and Dodla dairy have received market regulators go ahead to float their initial share-sale offerings.

Affle India's IPO comprises fresh issue of shares worth Rs 0.9 billion while Dodla dairy's IPO comprises fresh issue of shares worth Rs 1.5 billion.

With this the total number of companies getting market regulators approval has reached 64 so far this year.

With so many IPOs set to hit the markets, we at Equitymaster believe a merit-based selection, primarily including valuation, business, and management quality, is the logical way to go about investing in IPOs. If it means going against the herd, so be it. And going by recent past, this strategy has been proven to be successful more often.

To know how to safely profit from the ongoing IPO rush, download this FREE report now and discover How to Get Rich with IPOs.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

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Stock Market Updates

Top 5 Mid-Cap Gainers Today; HAVELLS IND Leads the Pack (Today's Market)

Jan 22, 2019 04:28 PM

Here's a list of 5 stocks that gained the most in the BSE Mid-Cap Index today. It also includes information on BSE Mid-Cap index and the broader benchmark indices.

MINDTREE LTD Surges by 5%; BSE IT Index Up 0.1% (Today's Market)

Jan 22, 2019 03:34 PM

MINDTREE LTD share price has surged by 5% and its current market price is Rs 928. The BSE IT is up by 0.1%. The top gainers in the BSE IT Index is MINDTREE LTD (up 5.0%). The top losers are ECLERX SERVICES and TCS (down 0.4%).

HEG LTD Plunges by 5%; BSE CAPITAL GOODS Index Down 0.5% (Today's Market)

Jan 22, 2019 03:34 PM

HEG LTD share price has plunged by 5% and its current market price is Rs 3,379. The BSE CAPITAL GOODS is down by 0.5%. The top gainers in the BSE CAPITAL GOODS Index are HAVELLS IND (up 5.0%) and THERMAX LTD (up 3.6%). The top losers is HEG LTD (down 5.1%).

WIPRO at 52 Week High; BSE 500 Index Down 0.2 % (Today's Market)

Jan 22, 2019 03:34 PM

WIPRO share price has hit a 52-week high. It is presently trading at Rs 350. BSE 500 Index is down by 0.2% at 14,524. Within the BSE 500, WIPRO (up 3.4%) and PHILLIPS CARBON BLACK (up 5.9%) are among the top gainers, while top losers are ITI LTD and DEEPAK FERTILISERS.

INFO EDGE Surges by 5%; BSE IT Index Down 0.0% (Today's Market)

Jan 22, 2019 03:20 PM

INFO EDGE share price has surged by 5% and its current market price is Rs 1,639. The BSE IT is down by 0.0%. The top gainers in the BSE IT Index is INFO EDGE (up 5.3%). The top losers are TCS (down 0.3%) and ECLERX SERVICES (down 0.5%).

Sensex Trades 250 Points Lower; Vedanta & Tata Steel Top Losers (Today's Market)

Jan 22, 2019 12:30 pm

The BSE Sensex is trading down by 261 points, while the NSE Nifty is trading down by 83 points.

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