Stock Market Today: Nifty Slips Below 22,500; AU SFB, Infosys Fall on Earnings
The Nifty 50 opened in the red on Monday after shedding over 90 points in the pre-opening session. On Friday, Indian indices closed lower, weighed down by selling in banking and metal stocks. Foreign institutional investors (FIIs) sold equities worth Rs 1,148.6 crore, while domestic institutional investors (DIIs) bought Rs 3,201.9 crore.
The Nifty Midcap 100, Nifty Smallcap 100, Nifty IT and Nifty Realty indices also opened lower. Investors are watching Q2FY27 earnings from Tata Consumer Products, APL Apollo Tubes and One97 Communications.
Global Cues
US indices closed lower on Friday, European markets ended mixed, and Asian markets are trading with varied trends. Brent crude retreated from six-month highs but remains above $110 per barrel, as continued Houthi attacks on Saudi airports and oil facilities keep supply risks elevated. Meanwhile, US President Donald Trump said the war with Iran will not end until Tehran's nuclear threat is eliminated.
Market Snapshot
- Nifty 50: 22,446.80 (-153.2 points, -0.7%)
- BSE Sensex: 72,990.04 (-133.8 points, -0.2%)
- Nifty 500: 21,279.15 (-148.5 points, -0.7%)
Market breadth was weak: of the 2,344 stocks traded, 804 advanced and 1,440 declined.
Stocks in Focus
AU Small Finance Bank: Q2FY27 net profit rose 52.9% year-on-year to Rs 857.7 crore but missed Forecaster estimates by 2.6%, owing to higher interest and employee benefit expenses. Revenue grew 22.2% to Rs 6,382 crore, supported by treasury operations and the retail and corporate banking segments. Asset quality improved, with gross NPAs down 42 bps and net NPAs down 7 bps. The stock fell 7.7% to Rs 860.70.
Infosys: Net profit grew 0.7% quarter-on-quarter to Rs 7,823 crore, 1.4% below Forecaster estimates, as higher employee benefits, subcontracting, consultancy and depreciation and amortisation costs weighed on margins. Revenue rose 1.8% to Rs 50,092 crore, driven by financial services, manufacturing, energy, communication and life sciences. The stock also appears in a screener of companies with declining cash flows.
Tata Motors: The company reported a Q2FY27 net profit of Rs 1,257 crore, against a net loss of Rs 867 crore a year earlier, driven by inventory sales and price hikes. Revenue surged 37.4% year-on-year to Rs 25,774 crore on strong domestic and export demand. The stock features in a screener of companies with improving return on capital employed (RoCE) over the past two years.
Lumax Auto Technologies: The board approved a mechatronics manufacturing unit in Haryana with a capex of Rs 150 crore, which management expects to add about Rs 500 crore to annual revenue. Separately, Q2FY27 net profit jumped 57.8% year-on-year to Rs 105.5 crore, and revenue climbed 34.3% to Rs 1,574.2 crore. The stock rose sharply.
KEC International: The company secured orders worth Rs 2,872 crore from Power Grid Corporation of India for 765 kV transmission lines, lifting FY27 order intake above Rs 13,500 crore. The projects will help evacuate 8.5 GW of renewable power from Gujarat.
JK Cement: The board approved a 75,000 KLPA water-based paint plant in Telangana with a capex of Rs 130 crore. Q2FY27 net profit rose 7.8% year-on-year to Rs 173 crore, and revenue grew 22.8% to Rs 3,771.3 crore on capacity additions and market share gains.
Paradeep Phosphates: The company signed a memorandum of understanding with the Odisha Government to invest Rs 4,750 crore in chemical and fertiliser units in the state. The stock rose.
Gland Pharma: The US FDA issued a Form 483 with four observations following a cGMP inspection at the company's formulations facility in Dundigal. The stock declined.
BPCL: The company expects LPG under-recoveries to rise to Rs 245 per cylinder in October, from Rs 199 in September, and to Rs 348 in November. The widening gap underscores mounting financial strain on oil marketing companies and could have wider implications for government subsidy spending.
Gainers and Losers
Largecap and midcap gainers: Kotak Mahindra Bank (Rs 441, +2.4%), Torrent Pharmaceuticals (Rs 4,612.40, +2.0%) and Bharat Petroleum (Rs 287.10, +1.8%).
Largecap and midcap losers: AU Small Finance Bank (Rs 860.70, -7.7%), Shriram Finance (Rs 816.70, -5.6%) and Bank of India (Rs 124.97, -4.6%).
BSE 500: 52-Week Lows and Moving Averages
- 52 stocks hit 52-week lows, including Atul Ltd. (Rs 5,280, -5.3%) and Bank of India (Rs 124.97, -4.6%).
- Only one stock moved above its 200-day SMA: Dr. Reddy's Laboratories (Rs 1,236.80, +0.6%).
- 22 stocks slipped below their 200-day SMA, including Belrise Industries (Rs 197.97, -3.0%) and Sagility (Rs 43.16, -2.3%).
