Raw material cost inflation was the single biggest factor that hurt the margins. The raw material cost surged 29% year-on-year led by the rise in prices of leaf tobacco and wood. The raw material cost as a proportion of sales rose from 40.2% in the same quarter last year to 44.6% this year.

MCX has more than tripled investors' wealth in the last year, hitting a record high in October 2024. Analysts suggest buying the dip for a target of Rs 7,000, as strong technical indicators and rising volumes support sustained growth. Stop loss can be set below Rs 6,620.

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Harley-Davidson lowered its annual revenue forecast due to persistent inflation and high borrowing costs affecting North American motorcycle demand. With retail sales dipping 10% and a shift in focus to Touring bikes, the company expects full-year global shipments to be down 16% to 17% and annual retail sales to drop 6% to 8%.

Sebi has fined multiple entities a total of Rs 27 lakh for non-genuine trades in the BSE's illiquid stock options segment and regulatory violations. The penalties include Rs 15 lakh on three traders for artificial volumes, Rs 5 lakh on Rudra Shares & Stock Brokers, and Rs 7 lakh on a research analyst for non-compliance.

Some 64% of the planemaker's U.S. West Coast factory workers rejected the offer late on Wednesday, leaving assembly lines idle for nearly all of Boeing's commercial jets, including the 737 MAX, the backbone of its balance sheet.

Priyanka Gandhi Vadra has declared assets worth nearly Rs 12 crore in her nomination for the upcoming Wayanad Lok Sabha bypoll. The nomination also listed her husband, Robert Vadra's assets. This provides an insight into the wealth of Priyanka Gandhi and Robert Vadra. Watch!

The world's biggest package delivery firm also raised its full-year adjusted operating margin forecast despite customers' ongoing switch to slower, cheaper deliveries in the long retrenchment that followed the early pandemic's e-commerce boom.

Indian benchmark indices fell on Thursday for the fourth consecutive session let down by auto and FMCG stocks. While the S&P BSE Sensex settled at 80,065.16, down by 17 points, the broader Nifty closed at 24,399.40, lower by 36.10 points or 0.15%.Commenting on the day's action, Rupak De, Senior Technical Analyst at LKP Securities said that the current market sentiments remain weak. "Nifty traded in a range bound manner throughout the session before closing with a marginal loss. The sentiment remains weak as no follow-up buying was visible, despite the formation of a bullish reversal pattern after a significant correction. During the day, it found support around the 38.20% Fibonacci retracement of the previous rally from June 2024 low of 21,281 to all-time high of 26,277,” De said. Going forward, a recovery might occur in Nifty unless 24,350 is breached, which could trigger a more serious correction, this analyst warned. On the higher end, the 50-stock index could move towards 24,650-24,700. Here are 3 stock recommendations for Friday:

On Thursday, India’s benchmark index Sensex fell by 17 points, closing at 80,065. Despite this dip, six stocks from the BSE 500 index hit their 52-week highs. A 52-week high reflects the highest price a stock has reached in the past year, offering valuable insights for traders and investors. This benchmark helps assess a stock’s current value and forecast its future potential.

Tesla's stock surged over 16% after CEO Elon Musk reassured investors about expected sales growth and plans to cut production costs. The company announced its pivot toward AI and robotics, with new projects like the Cybercab robotaxi, despite regulatory challenges and investor concerns over Musk's focus.

The S&P 500 and the Nasdaq opened higher on Thursday, recovering from a selloff in the previous session, as gains in Tesla shares after its optimistic earnings forecast lifted indexes.

Indian stock market closed flat with a negative bias on Thursday, tracking mixed global cues.The Sensex managed to hold on to 80,000 while the Nifty50 closed just a shade below 24,400 levels.

A small negative candle was formed on the daily chart at the new swing lows of 24,341 with minor upper and lower shadows. Technically, this pattern indicates the formation of a Doji-type candle pattern (not a classical one). The short-term trend of the Nifty remains negative. But the present pattern formation is signaling a possibility of an upside bounce from here or from slightly lower levels.

We are just a week away from Diwali 2024! Traditionally, many investors engage in Muhurat trading on Diwali eve, which is considered an auspicious day and marks the start of the new Samvat year. ETMarket has identified six stocks that have gained over 100% from one Diwali to the next over the past three years. Remarkably, these six stocks have generated over 15 times the wealth for investors in just the last three-year period. Considered only stocks that have a market cap of over Rs 2000 crore. (Data Source: ACE Equity)

Indian headline indices fell for the fourth consecutive session on Thursday let down by auto and FMCG stocks. While the S&P BSE Sensex settled at 80,065.16, down by 17 points, the broader Nifty closed at 24,399.40, lower by 36.10 points or 0.15%.

Amid global economic unpredictability in 2024, India stands out with steady growth driven by robust structural reforms and forward-looking policies. Its macroeconomic stability and strategic focus on self-reliance make it an attractive destination for investors, highlighting India as a relative safe haven amid volatility.

Indian headline indices fell for the fourth consecutive session on Thursday let down by auto and FMCG stocks. While the S&P BSE Sensex settled at 80,065.16, down by 17 points, the broader Nifty closed at 24,399.40, lower by 36.10 points or 0.15%.

The company posted a 10% YoY topline growth for the quarter, with domestic revenue rising by 10.5%. The board declared an interim dividend of Rs 24 per share, with a record date of November 4.

Factors such as high valuations, slowing profit growth, and renewed interest in competing Chinese stocks contributed to this shift. As a result, overseas funds have withdrawn over $8 billion on a net basis, erasing much of the inflow seen in 2024.

Market valuations in India remain elevated but not in bubble territory, with a recent correction driven by Foreign Institutional Investor (FII) selling. The 'Sell India, Buy China' strategy is seen as a short-term move due to China's structural issues, presenting opportunities for long-term investors in Indian largecaps.

Shares of Reliance Power rose 5% to reach the upper circuit limit of Rs 42.47 on the BSE on Thursday after shareholders approved a Rs 1,525 crore preferential issue. The company's members endorsed the special resolution for this securities issuance via postal ballot.

Long unwinding refers to the selling of positions or stocks owned for a longer period either to book profit or to exit it in anticipation of impending bearishness. In Thursday's trading session, five stocks witnessed a long unwinding. Here's the list:

A raft of preliminary PMI readings is expected to show a contracting business activity in the bloc and could push the ECB to take a further step to trim its rates.

Piramal Pharma Share Price: The company's revenue from operations increased to Rs 2,242 crore in the second quarter, up 17% year-on-year from Rs 1,911 crore in the same period last year, mainly due to strong growth in its CDMO business.

Short covering happens when traders buy back shares they previously sold short, often due to a shift in market sentiment or new information. This usually results in a decrease in open interest and can drive the stock price higher. In Thursday's trading session, five stocks saw short covering. Here's the list:

The revenue for the quarter stood at Rs 1,471.4 crore, a 22.71% increase from Rs 1,199 crore in July-September FY24. Sequentially, revenue rose by 7.8%, while profits declined by 0.19%. The EBITDA margin for the quarter was 20.8%, reflecting a 27.7% year-on-year growth.

Reliance Power Preferential Shares: Reliance Power has obtained shareholders' approval to raise Rs 1,524.60 crore through the issuance of preferential shares aimed at business expansion, investment in subsidiaries and joint ventures, debt reduction, and general corporate purposes. Promoters, including Reliance Infrastructure, will significantly contribute by infusing Rs 600 crore.

Diwali is just around the corner, and so is the special Muhurat trading session, a unique tradition where the stock market remains open for one hour to mark the beginning of the Hindu calendar year, Samvat 2081. While markets are typically closed on most festivals, Diwali is an exception. This session, held under the vibrant glow of diyas and colorful rangoli patterns, is deeply rooted in astrology. The belief is that the planetary positions during this time are ideal for starting new ventures.

October has seen the highest ever selling by FIIs in a single month. Now which are the sectors where FII own most stakes? Financial services (including banks), the IT sector, and a few large manufacturing companies. In this phase of selling, it is IT stocks which have seen less selling and least damage. The question is: Why has a sector that has been underperforming for the last three years and is over-owned by FIIs not seen much decline in the current brutal selling? Is this an indication that, after a three-year hiatus, the worst has been priced in?

RailTel shares surged by 6% to Rs 420 on the BSE following the announcement of a Rs 144.88 crore order from the Gujarat government's Home Department. The contract entails the supply, installation, commissioning, and operational maintenance of a CCTV video surveillance system across multiple branches of the LCB SoG cyber police station and LIB, as well as police stations in Clusters 1, 2, and 3.

A long buildup occurs when open interest and trading volumes increase alongside a rise in the underlying stock price in the Futures and Options segment, signaling a bullish market trend. In Thursday's trading session, five stocks saw fresh long positions. Here’s the list:

Sukhjit Starch & Chemicals had announced a stock split wherein each share with a face value of Rs 10 per share will be split into 2 shares of a face value of Rs 5 each. As for POCL Enterprises, the each share with a face value of Rs 10, will be split into 5 shares of a face value of Rs 5 each.

Godavari Biorefineries' IPO has seen a tepid response, with only 37% subscription so far. Analysts express caution due to high debt and recent financial challenges despite the company's market position.

Ahead of the beginning of Diwali, the domestic brokerage firm Angel One has picked up ten stocks across sectors where investors can place bets. These stocks are from sectors like capital goods, consumer durables, FMCG, and IT. Here's the list:

Coforge shares rose 14%, reaching a 52-week high after reporting a strong quarterly profit. Analysts maintain positive ratings, with target prices ranging from Rs 8,480 to Rs 10,000.

Hindalco Industries' shares dropped 7% to Rs 666.80 on BSE after Constellium's weak Q3 revenue report. Constellium experienced reduced demand in automotive and industrial markets, impacting Hindalco's subsidiary Novellis, which contributes significantly to the company's volumes and EBITDA.

The shares of Freshara Agro Exports debuted on the NSE SME platform at a 16.4% premium. The stock opened at Rs 135, compared to its issue price of Rs 116. Funds from the IPO will be used for working capital, capital expenditure, general corporate, and issue expenses. The company processes and exports preserved gherkins and other pickled commodities.

Shares of AU Small Finance Bank rose 5% after the bank reported a 42% rise in net profit to Rs 571 crore for the September quarter. The increase was driven by its acquisition of Fincare Small Finance Bank.

United Spirits posted a marginal rise in Q2 profit at Rs 341 crore with a slight revenue decline of nearly 1%. The company saw improvements in EBITDA and margins despite softer demand. CEO Hina Nagarajan highlighted optimism for the festive season and long-term growth prospects.

The stock surged 116% over the year, rising from Rs 451 on October 22, 2023, to Rs 977 on October 22, 2024. It reached a peak of Rs 1,188 on August 27, 2024, but lost momentum, falling below its 50-DMA. However, on the weekly charts, it remains above the 21-DMA and has formed a double bottom around the 950-1000 range, showing a rebound.

Global brokerage firms have recently shared their outlook on prominent stocks, maintaining a positive stance despite some near-term challenges.Citi, Jefferies, and UBS all see significant upside potential of 25-44% in the next 1 year for companies like Varun Beverages, Supreme Industries, Zomato, and Bajaj Finance, backed by strong growth drivers, healthy margins, and strategic expansions.Analysts highlight the resilience of these companies in navigating market volatility and believe their long-term prospects remain intact, justifying the optimistic ratings and robust target prices. We have collated inputs from ETNow –

Long-term investors are advised to stay optimistic despite a 10-12% market correction. This correction is a regular part of the market cycle and presents potential buying opportunities. Key sectors like banking and IT remain strong. The overall long-term bullish trend of the Indian market is still intact, especially with the upcoming Diwali season.

TVS Motor shares fell 3% after missing quarterly profit expectations, despite stable demand. Analysts have varied ratings, with targets ranging from Rs 2,596 to Rs 3,050, highlighting future growth potential.

Adani Power shares rose 3.5% to Rs 606.70 due to a board meeting announcement. The meeting, on 28th October 2024, will consider raising Rs 5,000 crore through non-convertible debentures.

Sona BLW Precision Forgings (Sona Comstar) is acquiring Escorts Kubota's Railway Equipment Division for Rs 1,600 crore on a slump sale basis. This strategic move aligns with Escorts Kubota’s focus on agriculture and construction sectors. The acquisition enhances Sona Comstar’s mobility offerings.

On October 23, five stocks from the Nifty-200 pack appeared in the RSI Trending Up scan, according to the stockedge.com data. It is an uptrend signal if the RSI value has crossed above 50 from below. "RSI trending up" means that the Relative Strength Index (RSI) values are increasing, suggesting strengthening momentum in the price of the stock. This can indicate potential upward movement and may be used by traders to identify buying opportunities.

Nifty futures closed down 0.21% at 24,487. Options data indicates a broader trading range of 24,000 to 24,800, with immediate levels between 24,200 and 24,600. Analysts suggest potential weakness below 24,500, targeting 24,350 and 24,200, while resistance is at 24,600 and 24,750.

AU Small Finance Bank's shares gain attention after reporting a 42% YoY rise in net profit for the September quarter, reaching Rs 571 crore, aided by the acquisition of Fincare Small Finance Bank. Despite asset quality deterioration, the bank's net interest income and overall operating profits saw significant growth.