Markets closed significantly lower compared to Friday’s closing point.
Nifty and Sensex fell sharply lower in early trading session and continued to fall.
All sectors’ stocks fell today except PSU Bank stocks. Private bank stocks and chemical stocks fell the most today.
Global markets: US markets fell on Friday. Asian markets traded mixed on Monday. Most European markets fell (as of 6 pm IST).
News
NSE and BSE announced that the special one hour trading session called Muhurat Trading will take place between 02:20 pm and 03:30 pm on 08 Nov.
The India- New Zealand Free Trade Agreement (FTA) will come into effect from tomorrow, 20 Oct. It will provide duty free access for 100% of Indian exports to New Zealand.
The government directed oil marketing companies to reduce sugar diversion for ethanol production to 0 in 2026-27, as per media reports. This aims to protect sugar supplies and reduce prices.
IPO Corner
Zetwerk Manufacturing Business’s Rs 5,012 crore IPO was subscribed 3.06 times on day 3. Retail subscription: 0.73 times. The IPO closed for subscription.
Bonfiglioli Transmissions Limited’s Rs 2,533.81 crore IPO was subscribed 46.06 times on day 3. Retail subscription: 5.91 times. The IPO closed for subscription.
Tonbo Imaging India Limited’s Rs 852 crore IPO was subscribed 135.90 times on day 3. Retail subscription: 31.07 times. The IPO closed for subscription.
Stock Updates
Axis Bank: net profit rose 39.38% year-on-year to Rs 7,704.67 crore in the July-Sept quarter.
HDFC Bank: net profit rose 5.55% year-on-year to Rs 20,700.03 crore in the July-Sept quarter.
ICICI Bank: net profit rose 22.28% year-on-year to Rs 16,333.18 crore in the July-Sept quarter.
TCS: expanded its partnership with Indian Bank to provide treasury and foreign-exchange software for its Colombo branch in Sri Lanka.
Bajaj Finance: net profit rose 28.53% year-on-year to Rs 6,266.20 crore in the July-Sept quarter.
L&T: received the go-ahead to begin preliminary work on its earlier-awarded Tashkent airport terminal project, an ultra-mega project (over Rs 15,000 crore).
UltraTech: net profit rose 21.24% year-on-year to Rs 1,501 crore in the July-Sept quarter. It agreed to guarantee a loan of up to $55 million for UHG Holdings IFSC Pvt Ltd, a group company in which Hindalco owns 50%.
JSW Steel: the Orissa High Court cancelled a Rs 696.32 crore mining penalty and ordered a fresh review of another Rs 1,472.69 crore penalty. It also received NCLT approval to merge Piombino Steel Ltd into the company.
Bajaj Finserv: set up a new subsidiary, Bajaj Reinsurance Ltd, to enter the reinsurance business.
Hindustan Zinc: net profit rose 142.05% year-on-year to Rs 6,412 crore in the July-Sept quarter.
Union Bank of India: net profit rose 30.62% year-on-year to Rs 5,781 crore in the July-Sept quarter.
Vedanta: subsidiary Vedanta Zinc International completed a $600 million expansion of its Gamsberg mine in South Africa.
Word of the Day
Double-pledging
It is a case where an asset is used as a collateral for two different loans.
In corporate history, there have been some companies that used double pledging to get multiple loans.
Often, these cases don’t end well as they are eventually unable to repay and the scam gets revealed.
This is illegal.
Using the same asset for multiple loans is legal when all borrowings and pledges are clearly revealed to all lenders.
Example: a company has a ship worth Rs 100 cr. It uses that ship as collateral to get two different loans worth Rs 60 cr each from two different lenders without revealing to them about the other loan.
6 Day Course
Theme: dividends
Day 1: Monday
Many companies pay dividends, but not all.
Why? Why does the share price fall when dividends are paid? Are dividend stocks safer? What happens to dividend payments when a company makes losses?
In this week’s course, we will understand dividends better.
In extremely simple terms, dividend payout is the sharing of profits.
Companies pay dividends per share. So, the total dividends received depends on the number of shares owned by an investor.
Some companies pay dividends every quarter, throughout the financial year. Some may pay only in 2 quarters. Some even less.
These are called interim dividends.
There may also be a final dividend in addition to the interim dividends.
In such cases, the total dividend paid out in a financial year = all interim dividend + final dividend.
Example: dividend in Q1: Rs 3, dividend in Q2: Rs 4, dividend in Q3: Rs 2, dividend in Q4: Rs 3.5, final dividend: Rs 5.5. Therefore in this case, total dividend = Rs 18
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What If
Every Diwali, Indian investors look forward to Muhurat Trading session, the special one-hour trading session to trade a few shares since it is considered auspicious.
The belief is that money invested at an auspicious moment should do well.
This is not limited to Indian markets. Investors around the world believe in certain popular investing proverbs like, “sell in May and go away”, “as January goes, so goes the year”, etc.
These sayings survive because they seem to work often enough to be remembered.
But does following them actually make you more money?
In today’s What If, we tested four popular stock market beliefs in the Indian market between 2015 and 2025.
We tracked what happened to stocks and gold bought during Muhurat Trading and tested some popular investing proverbs in the global market.
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.
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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.
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