RBL Bank(+10%); IIFL 36% rise in consolidated net profit & more

Tribe Daily

Oct 27, 2022

Market Summary

Market closes with minor gains in a range-bound trading session.

Companies

GMR Airports (+6%) after DGCA grants aerodrome license to GMR Goa International airport Mopa. JSW Steel(+5%) after the company tied up with two Italian banking institutions to modernise its plate mill in Texas. NMDC(-20%) after the company demerged its steel business from the core mining business.

Sectors

Nifty Metal(+3%) as JSW Steel, Hindalco Industries, and Tata Industries gain. Nifty Realty(+3%) and Nifty Oil & Gas(+2%) due to higher buying in realty and oil and gas stocks.

News of The Day

1. Shares of Consumer Goods Company Dabur (+3%) after the company announced the acquisition of Badshah Masala and the rise of market share gain across 95% of its portfolio in Q2FY23.. ( Economic Times)

2. Shares of Century Textiles and Industries (+5%) rallied after the company reported a 60% YoY rise in consolidated net profits. ( Economic Times)

3.Shares of Financial Service Provider IIFL (+6%) gained after the company reported a 36% rise in consolidated net profit in the September quarter. (Economic Times)

4.Shares of Gland Pharma (-15%) fail due to disappointing Q2 results.. ( Economic Times)

5. Agriculture products company Kaveri Seeds approved a share buyback option of Rs 125.65 cr. The share buyback option will be conducted through an open market route at Rs 700 per share. (Economic Times)