Top Nifty gainers and losers: BPCL, Reliance up, Adani Enterprises, Coal India tank

The Indian equity indices ended on a negative note for the second straight session on November 1 with the Nifty below 19,000, weighed by weak manufacturing data for the month of October and ahead of the outcome of the FOMC meeting tonight. At the close, the Sensex was down 283.60 points or 0.44 percent at 63,591.33, and the Nifty was down 90.40 points or 0.47 percent at 18,989.20. About 1,588 shares advanced while 1,939 shares declined, and 135 shares unchanged.

Sun Pharmaceuticals Ltd: Shares of the pharma major surged over 2.5 percent to Rs 1,116, after it  reported a 5 percent year-on-year rise in consolidated net profit to Rs 2,375.5 crore for the July-September quarter of the current financial year, beating estimates. The company had reported a profit of Rs 2,262.22 crore in the same period last year. Revenue came in at Rs 12,192 crore, up 11.3 percent from the year-ago quarter numbers of Rs 10,952.3 crore.

BPCL Ltd: Shares of the petroleum major rose over 2 percent to Rs 356 on November 1, extending gains for the second day in a row. In Q2, it swung into a consolidated net profit of Rs 8,501 crore in Q2 FY24, against a net loss of Rs 304 crore a year ago, mainly due to softer crude oil prices and low raw material costs.

Hindalco Ltd: Shares of the aluminium and copper major rose 0.7 percent to Rs 463, extending gains for the third session in row on November 1.

Bajaj Auto Ltd: Shares of the two and three-wheeler major rose 0.6 percent to Rs 5,344, extending gains for the second day in a row on November 1. Volumes were lower as 4 lakh shares changed hands as against the 1-week average of 6 lakh shares.

Reliance Industries Ltd: Shares of the Mukesh Ambani-led company rose 0.4 percent to Rs 2,297 a day after it fell over 1 percent. In Q2, RIL reported a consolidated net profit of Rs 19,878 crore in the second quarter of the financial year 2023-24, an increase of 29.7 percent from a year ago, despite a dip in revenue from its oil-to-chemicals business.

Adani Enterprises Ltd: Shares of the flagship Adani firm fell over 3 percent to Rs 2,217 on November 1. Its subsidiary skidded back into losses in the quarter ended September 30 from Rs 49-crore profit a year back as revenues went down sharply in the last one year. Adani Wilmar’s revenue from operations fell 13.3 percent year-on-year to Rs 12,267.15 crore from Rs 14,150.03 crore. Although the total expenses were down to Rs 12,439.45 crore during the quarter, it was not enough to mitigate the losses.

Coal India Ltd: Shares of the coal major fell 2.5 percent to Rs 306, extending gains for the second day in a row on November 1. About 41 lakh shares changed hands as against the 1-week average of 83 lakh shares on the bourses.

Asian Paints Ltd: Shares of the paint major fell nearly 2 percent to Rs 2,934 on November 1, snapping its two-day gaining streak on the bourses. In Q2, the company posted muted revenue on account of a delayed festive season and erratic monsoon, which heavily weighed on consumer demand. Adding to that, the second quarter is generally a weak one for paint manufacturers.

Adani Ports and special Economic Zones Ltd: Shares of the port major tanked 2 percent to Rs 770 on November 1, extending losses for the second day in a row.

SBI Life Insurance Company Ltd: Shares of the insurance fell 2.5 percent to Rs 1,333. The stock ended its two-day losing streak on the bourses on November 1.