Market closes at 7-week high, Nykaa (+12%) & more
Market gains for 3rd straight session to close at a 7-week high and Nifty closes above 18,000.
Ultra Tech Cement(+5%) gains on the expectation of demand recovery post-monsoon. Eicher Motors(+3%) gains as strong rural demands. Tata Steel (-1%) falls due to weak operational performance.
Nifty Auto(+2%) gains after Maruti Suzuki posts impressive profits. Nifty Consumer Durables(+2%) increased due to strong demand during the festive season.
News of The Day
1. Shares of mining company Vedanta (-4%) after Q2 net profit declined by 61%.(Economic Times)
2. Mahindra & Mahindra Financial Services has raised Rs 275 Cr by issuing bonds on a private placement basis. (Economic Times)
3. FMCG firm Bikaji Foods International's IPO band fixed at Rs 285- 300 per share. The IPO will open for public subscription on the 3rd of November. (Mint)
4.DCX Systems IPO was fully subscribed within 90 minutes of issue opening (Economic Times)
5. Shares of E-Commerce company Nykaa (+12%) to Rs 1078 after the company approved a 5:1 bonus share issue.( Economic Times)
Expert of The Day
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