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HCL Tech(+2%), Asian Paints(+2%) and more

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HCL Tech(+2%), Asian Paints(+2%) and more

Tribe Daily

Tribe Wealth
Nov 18, 2022
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HCL Tech(+2%), Asian Paints(+2%) and more

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Market Summary

Stocks GIF

Market ends in red for second straight session.


Companies

Asian Paints(+1%) rose after the company joined hands with a $7.3 Billion conglomerate to manufacture VAM. Bajaj Auto(-2%) plunged after LIC cuts its stake in the company. 


Sectors

Nifty Auto(-2%) plunged due to weak performance of M&M, Bajaj Auto, Maruti Suzuki, and Eicher Motors. Nifty Pharma(-1%) plunged due to weak performance of Cipla, Dr Reddy Labs, and Sun Pharma.


News of The Day

1.PTC India Financial Services Ltd (+4%) rose after the company reported a 407% increase in PAT( Profit After Taxes). The PAT increased from Rs 25.60 cr to Rs 129.98 cr. ( Economic Times)

2.Bajaj Healthcare Ltd (+1%) rose after USFDA completed the first pre-approval inspection of the Vadodara API plant. (Economic Times)

3. Strides Pharma Science Ltd (2%) rose after the company gets USFDA approval for a potassium deficiency drug. (Devdiscourse)

4.Jet Airways to cut salaries by 50% and send staff on leave without pay. (Economic Times)

5. Welspun is set to acquire 70% debt of Sintex BAPL. (Economic Times)


Market Sentiment


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HCL Tech(+2%), Asian Paints(+2%) and more

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