Markets closed lower compared to yesterday’s closing point.
Oil prices rose after a missile strike on Saudi Arabia’s biggest oil refinery leading to increased concerns on supply disruptions. This could have led to the fall.
Oil & gas stocks and IT stocks fell the most today. Auto stocks and consumer durable stocks rose the most.
Global markets: US markets rose on Tuesday. Most Asian markets rose on Wednesday. European markets opened mixed (as of 6 pm IST).
News
India’s Industrial Production (IIP) slowed to 6.7% in September from 8% in August. Manufacturing and electricity & gas supply sectors were the top contributors this month.
The government increased the Dearness Allowance (DA) and Dearness Relief (DR) by 3% with effect from 1st July, which will cost the treasury Rs 10,016.10 crore annually.
A budget of Rs 10,000 crore up to FY 2039-40 was approved by the government for Container Manufacturing Promotion Scheme (CMPS).
The government approved Pradhan Mantri Viksit Gram Swaraj Yojana for 5 years with a total budget of Rs 7,395.55 crore. The central government will fund Rs 4,869.48 crore and the remaining will be covered by the state government.
IPO Corner
Jio Platforms listed at Rs 1,358 on NSE, a premium of 21.36% over its issue price and closed 26.81% higher. It became the second most valued company on listing, in terms of market cap.
Paras Healthcare listed at Rs 720 on NSE, a premium of 3.90% over its issue price and closed 5.45% higher.
EAAA India Alternatives’ Rs 1,200 crore IPO was subscribed 5.25 times on day 3. Retail subscription: 1.03 times. The IPO closed for subscription.
SFC Environmental Technologies’ Rs 667.53 crore IPO was subscribed 0.27 times on day 2. Retail subscription: 0.34 times. The IPO will close for subscription on 29 Oct.
Stock Updates
Hindustan Unilever: net profit rose 3.91% year-on-year to Rs 2,790 crore in the July-Sept quarter. Dividend declared: Rs 19 per share. Record date: 12 Nov.
Adani Ports: net profit rose 16.50% year-on-year to Rs 3,621.94 crore in the July-Sept quarter.
Titan: set up a wholly owned subsidiary in Canada to sell jewellery and other lifestyle products.
Adani Enterprises: net profit fell 54.84% year-on-year to Rs 1,492.04 crore in the July-Sept quarter. Last year’s profit included one-time gains of Rs 3,583 crore.
TVS Motor: net profit rose 50.16% year-on-year to Rs 1,194.51 crore in the July-Sept quarter. It approved plans to separately list its finance business and acquire STPL Trading for Rs 530.08 crore.
SBI Life: net profit rose 11.05% year-on-year to Rs 549.23 crore in the July-Sept quarter.
Hyundai Motor India: net profit fell 23.92% year-on-year to Rs 1,196.16 crore in the July-Sept quarter.
Vedanta Aluminium: net profit rose 117.74% year-on-year to Rs 5,167 crore in the July-Sept quarter. The company was still part of Vedanta Ltd in the last year.
Cholamandalam Investment: net profit rose 40.59% year-on-year to Rs 1,630.34 crore in the July-Sept quarter. It also approved plans to raise up to Rs 5,000 crore through a QIP, subject to approval.
Polycab: NCLAT temporarily stopped MSCI from removing Polycab from its index until it rules on an appeal related to the company’s insolvency proceedings.
Meesho: net loss narrowed to Rs 132.45 crore in the July-Sept quarter from Rs 411.36 crore a year ago.
Indus Towers: net profit fell 2.53% year-on-year to Rs 1,792.80 crore in the July-Sept quarter.
United Spirits: net profit fell 7.76% year-on-year to Rs 428 crore in the July-Sept quarter.
Vedanta: net profit rose 103% year-on-year to Rs 3,650 crore in the July-Sept quarter. Last year’s results were from before the demerger of several businesses in May 2026.
JSW Energy: net profit rose 49.91% year-on-year to Rs 1,056.37 crore in the July-Sept quarter. It also approved plans to raise up to Rs 5,000 crore through NCDs.
Word of the Day
Voting Power
This refers to the voting power an investor has in case of crucial decisions of a company
Usually, 1 share = 1 vote.
This means the greater the number of shares owned, the greater the voting power.
In some cases, there can be shares that have a different voting power.
DVR or Differential Voting Rights usually offer lower voting power. Example: 1 share = 1/10 vote.
Super-voting shares allow shareholders to have greater voting rights than the shares. Example: 1 share = 10 votes.
Companies issue shares with different voting power to raise money while diluting the promoters’ voting to a lesser extent.
6 Day Course
Theme: different kinds of funds in India
Day 3: Wednesday
A few other types of funds that exist but are less widely known are SIFs, AIFs, and PMS.
AIF: Alternative Investment Funds have different categories (category 1, 2, and 3).
Different categories of AIFs invest in different assets and in different styles.
They can invest in unlisted companies’ shares, infra projects, debt, real estate, derivatives, bonds, REITs, InvITs, and other AIFs.
The minimum investment amount in AIFs starts at Rs 25 lakh.
PMS: Portfolio Management Services are similar to mutual funds but can be more customisable and focussed.
There are 3 main categories of PMS depending on the level of customisability. Minimum investment is Rs 50 lakh.
SIF: Specialised Investment Funds have a minimum investment amount of Rs 10 lakh.
They are similar to mutual funds but can take more risks in terms of investment style and assets.
————
Featured Question
Q. “How a New IPO posted at >21% over on bid margin inspite of falling market and sustained and even increased the gap inspite of market going down.How is this hype created over the buyers or some other manipulation?”
We cannot comment on individual IPOs and shares.
Investors must understand that individual stocks’ prices are governed by demand and supply of the shares.
It is entirely possible that a stock goes up when many others are falling and vice versa.
In fact, it happens every day.
Even on days that the markets fall greatly, there are some stocks that end in green.
Similarly, even on days that the markets rise a lot, there are some stocks that end in red.
Example: some consumer companies’ stocks and pharma stocks were going up even during the crash of the pandemic in 2020.
It is true that some IPO stocks are manipulated and could be cases of pump-and-dump schemes. This is more common among stocks of smaller companies.
This is why investors must be careful while choosing to invest in IPOs. Thorough research is needed before investing.
The information presented in this post has been compiled and prepared by Groww Invest Tech Pvt Ltd and is intended solely for informational purposes. It is not tailored to any specific investment objectives, financial situations, or needs of any individual investor. The content should not be construed as investment, financial, legal, or tax advice and should not be relied upon as a substitute for professional consultation.
Investing in securities markets involves inherent risks. Investors are advised to carefully review all relevant documents and consider their own risk tolerance before making any investment decisions.
Mutual fund investments are subject to market risks; please read all scheme-related documents carefully. Past performance of financial instruments, schemes, or markets is not indicative of future results.
SEBI Reg Name: Groww Invest Tech Pvt Ltd | SEBI Reg No: INZ000301838 | RA No: INH200008662
Groww Invest Tech Pvt Ltd is registered with the Securities and Exchange Board of India (SEBI) under Registration No: INZ000301838, as a Research Analyst under No: INH200008662, as a Depository Participant under No: IN-DP-417-2019, and with the Association of Mutual Funds in India (AMFI) under ARN-111686.
SEBI registration details: View registered name and registration numbers
Did you like this edition?
Leave a feedback here!