Hero Motor(+3%), Axis Bank(-5%) & more

Tribe Daily

Tribe Wealth

Nov 10, 2022

Market Summary

Weak global cues amid Crypto slide drags Market, frontline indices down 1% each.

Companies

Hero Motor Corporation (+3%) rose after the company reported an increase in sales by 7.25%. Axis Bank(-4%) plunges after government sells a 1.55% stake in the bank. Tata Motors (-5%) plunges after disappointing Q2 results.

Sectors

Nifty Auto (-2%) plunged due to the bad performance of Tata Motors, M&M, & Maruti Suzuki.

News of The Day

1. Inox Green Energy IPO will open on the 11th of November. The IPO has a price band of Rs 61 to 65 per share. (Mint)

2.Shares of Ramco Cements experienced severe selling pressure after the company reported a 98% YoY ( 11 Crore) decline in net profit. (Economic Times)

3. Shares of Wonderla Holidays rose by (+4.42%) to Rs 378.35 after the company reported strong Q2 performance. (Economic Times)

4.KFin Technologies has received capital markets regulator Sebi's approval to raise Rs 2400 crore through an IPO (Initial Public Offering). (Economic Times)

5. Archean Chemical IPO subscribed by 50% on day 2. (Economic Times)