The benchmark indexes Nifty and Sensex fell for the third day in a row as investors were concerned about poor global signals and recession worries.
In Tuesday’s trading session, Indian benchmark indices closed with slight losses in a highly volatile session. Nifty fell below 24,000. At the close of trade, the Sensex fell 166.33 points or 0.21% to 78,593.07. Nifty was seen falling 63.05 points or 0.26% at 23,992.55.
| Top 5 Gainers in Today’s Trade: | Top 5 Losers in Today’s Trade: |
| KPR Mill Ltd (14.91%) | Marico Ltd (6.27%) |
| BLS International Services Ltd (10.06%) | BEML Ltd (7.18%) |
| Network18 Media & Investments Ltd (6.62%) | Hitachi Energy India (6%) |
| Home First Finance Company India Ltd (6%) | Cochin Shipyard Ltd (5%) |
| Firstsource Solutions Ltd (6%) | Power Finance Corporation Ltd (4.30%) |
Q1FY25 Results Announcement:-
● Brigade Enterprises (10.8% up)
Net profit – (61.6%) QoQ | 268.2% YoY
Revenue from operations – (36.6%) QoQ | 64.8% YoY
● Axiscades Technologies (9.7% up)
Net profit – 86.6% QoQ | 194% YoY
Revenue from operations – (12.7%) QoQ | 4.5% YoY
● BLS International Services Ltd (6% up)
Net profit – 42% QoQ | 70% YoY
Revenue from operations – 10% QoQ | 29% YoY
Orders:
● ITCONS E-Solutions hit 5% circuit after securing Rs. 26.3 million order for Manpower Services from Ministry Of Water Resources River Development.
● Power Mech Projects Ltd stock jumped 4% after the company received a significant work order from Dangote Petroleum Refinery & Petrochemical FZE worth Rs 110.57 crore.
● Patel Engineering Limited jumped 7% as it received a new work order from the Office of the Executive Engineer, Government of Maharashtra for consideration of Rs. 317.6 Crores for the Construction of water lifting arrangement and other EPC works.
Trending Sector:
Textile stocks rally up to 20% – As the crisis in Bangladesh deepens, its key textile sector—which contributes a lion’s share of its exports—faces increasing challenges. This turmoil may prompt international buyers to seek alternative markets, such as India, to meet their needs.
If 10-11% of Bangladesh’s garment exports shift to Indian hubs such as Tiruppur, India stands to gain an additional business of $300-400 million per month, according to several sources.
Textile stocks like Gokaldas Exports, KPR Mill, SP Apparels, Nahar Spinning, Century Enka, and SP Apparels rallied up to 20%.
Stock Recommendations:
Nuvama has assigned buy call on shares of Suraj Estate Developers Ltd for a target price of Rs. 935 per share, which suggests a potential 35% increase from the current price of Rs. 691.
Emkay Global has reaffirmed its buy rating on InterGlobe Aviation Limited, with a target price of Rs. 5,300 per share, indicating a potential 23% upside in the stock from the current price of Rs. 4,311 apiece.
Also Read
Bulk Deals:-
Aavas Financiers 2% up
Smallcap World Fund Inc bought a 0.63% stake in the housing finance company at an average price of Rs 1,630 per share.
Bajaj Consumer Care 4.43% up
Quant Mutual Fund bought a 1.89% stake in the company at an average price of Rs 256 per share. However, Goldman Sachs Funds – Goldman Sachs India Equity Portfolio sold a 1.69% stake in the company at an average price of Rs 256.02 per share.
Huhtamaki India 1% up
Plutus Wealth Management LLP bought a 0.66% stake in the company at an average price of Rs 416.49 per share.
Written by:- Abhishek Singh
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