Top Nifty gainers and losers at mid-day: SBI, Bajaj Auto regain, UPL, ITC decline

At 12:00 pm, Sensex was up 657.24 points or 1.04 percent at 63,805.39, and the Nifty was up 195.40 points or 1.04 percent at 19,052.70. About 2598 shares advanced, 455 shares declined, and 91 shares unchanged.

State Bank of India Ltd: Shares of the bank rose close to 2.3 percent to Rs 559, a day after the stock price crashed nearly 2 percent. About 55 lakh shares changed hands as against the 1-week average of 1 crore shares.

Bajaj Auto Ltd: Shares of the two-wheeler and three-wheeler major rose over 2 percent to Rs 5,378, snapping its three-day losing streak on the bourses on October 27. In Q2, it reported a 20 percent year-on-year (YoY) rise in net profit for the September quarter at Rs 1,836.14 crore.

Coal India Ltd: Shares of the public sector undertaking bounced back 2.8 percent to Rs 313, a day after the stock tanked 1.6 percent amid a huge market sell off. Volumes were low as 42 lakh shares changed hands as against the 1-week average of 77 lakh shares.

Adani Enterprises Ltd: The stock price of the flagship Adani firm rose over 2 percent to Rs 2,255, in a major respite to Adani investors as the stock is trading in the green after nine trading sessions. Over 7 lakh shares changed hands as against the 1-week average of 17 lakh shares on the bourses.

Eicher Motors Ltd: The stock of the Royal Enfield maker rose 2.1 percent to Rs 3,397, breaking its four-day losing streak on the bourses. Close to 1 lakh shares changed hands on the bourses on October 27. This is lower than the 1-week average of 3 lakh shares.

Dr Reddy’s Laboratories Ltd: Shares of the pharma major tanked close to a percent to Rs 5,390, extending losses for the sixth day in a row, becoming the top loser in the index. The company is expected to announce its Q2 results on October 27. As per estimates, the Hyderabad-based company’s revenue is expected to see high single-digit on-year growth as it continues to benefit from the robust sales of the blockbuster cancer drug Revlimid in the US.

UPL Ltd: The share price fell 0.5 percent to Rs 559, plunging for the ninth consecutive trading session in a row. Volumes were low as 12 lakh shares changed hands far lower than the 1-week average of 27 lakh shares.

ITC Ltd: The share price of the FMCG giant fell a marginal 0.2 percent to Rs 433 on October 27. Revenue growth for ITC’s cigarette segment has slumped from 29 percent in Q1FY23 to 8.5 percent in Q2FY24.  After ITC’s July-to-September earnings, brokerages said that volume growth for ITC’s cigarettes was lower than expected. Motilal Oswal had estimated a volume growth of six percent, but the actual growth was four percent in Q2FY24.

Asian Paints Ltd: The shares of the paint major fell 0.3 percent to Rs 2,950, extending losses for the fourth day in a row on October 27. In Q2, reported a consolidated net profit of Rs 1,232.39 crore for the second quarter of the financial year 2023-24, up 53.31 percent.