The Nifty 50 index opened at 19,521 and faced a challenging day, ultimately closing at 19,281.75, reflecting a significant decline of 260.90 points, or 1.34%, from the previous day’s closing level. The trading range for the day saw a high of 19,556.85 and a low of 19,257.85.
The top gainers for the day were M&M and Bajaj Finance, while the top losers were LTI Mindtree, Adani Enterprises, Hindalco, JSW Steel, and Adani Ports.
Sectorally, the bearish onslaught was evident, with a majority of the indexes succumbing to the pressure. Notably, the Nifty Media sector took the hardest hit, with a substantial decline of 4.98%. Following closely behind, the Nifty PSU Banks sector experienced a significant drop of 3.77%. In contrast, the Nifty FMCG sector displayed more resilience, with a relatively modest decline of 0.78%.
Furthermore, the midcap and small-cap segments of the market were severely impacted, underlining the broad-based bearish sentiment. The Nifty Midcap index closed down by 2.66%, a significant decline amounting to 1,061.4 points. Meanwhile, the Nifty Small Cap index plummeted by 3.59%, shedding 463.50 points.
This company has garnered attention with an impressive 3-year sales growth CAGR of 22% and an equally remarkable 3-year stock price CAGR of 32%. With the upcoming results announcement on October 25th, keeping this stock on your watchlist is advisable.
The company is set to announce its Q2FY24 results shortly. With outstanding 3-year ROE and Profit CAGRs of 53% and 55%, respectively, this stock merits your watchlist.
The company has secured a new order for a Wind-Solar Hybrid Power Project, featuring a 4.20 MW capacity. This project includes 4.20 MW of wind and 3.60 MW of solar capacity, ordered by M/s. Sustainable Spinning and Commodities Pvt. Ltd. under the ‘Captive Power Producer (CPP)’ segment.
The company’s subsidiary, KIMS Hospital Enterprises Private Limited, has further invested by acquiring an additional equity stake of 12.09% in M/s. Kondapur Healthcare Limited. It is strongly recommended to include this stock in your watchlist.
Today, the trading volume of the company’s stock surged significantly by 3.86 times. With 3-year Sales and Profit CAGRs of 8% and 15%, respectively, it demonstrates potential to be a contender on your watchlist.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
We're Live on WhatsApp! Join our channel for market insights & updates
Enjoy Zero Brokerage on Equity Delivery
Join our 2 Cr+ happy customers