Sensex Today | Stock Market Highlights: Nifty closes shy of 26,000; surge powered by result reactions

Thank you, readers! That’s all from CNBCTV18.com’s live market coverage on October 28, 2022. Stay tuned for other updates on our website: CNBCTV18.com.

You can follow us on Twitter: @CNBCTV18Live @CNBCTV18News

And on Facebook, LinkedIn, Instagram and Telegram

Download our mobile app for Android and iOS platform

MARKET AT CLOSE

Dipan Mehta, Director, Elixir Equities

On Vodafone Idea

“I think the AGR relief is a very, very positive news for Vodafone because from whatever I heard it kind of gives an open-ended canvas for the government to work out how to make Vodafone viable again. And I particularly like the fact that in the submission they have said that they are worried about competition, they’re worried about 26 lakh subscribers. So, the whole tone and tenor does appear that anyhow they will keep Vodafone alive and sooner or later it should get back into profitability. So, I think it is great news for Vodafone. And I think a lot of investor interest also may come back because at the end of the day, the telecom industry has created a great deal of value. Bharti Airtel has been a stark outperformer and a lot of Reliance Industries gains have come because of Jio as well. So, if you have one more vehicle to invest in the telecom industry, I think investors will look at it quite closely. So, I’m now going to track Vodafone far more closely than before. I had written off this company, but let’s see what the government has plans for and if they eventually, as expected, merge BSNL also into it, then you would have a solid third player, and then hopefully, efficiencies will start to kick in.”

On Reliance Industries

“The only thought about Reliance is that, is it going to become a holding company? I mean, clearly, the indication of the management is that they’re going to launch an IPO for Jio Platforms, and that means that as minority shareholders of Reliance Industries, as of now it doesn’t appear to be much to gain from, because the holding company discount will start to creep in, and a lot of the investors who are buying Reliance Industries because of the telecom initiative may now sell Reliance Industries and just by Jio Platforms when it gets listed. So, I’ve always felt that the way the Adani Group has kept on splitting it’s holding company and distinct separate businesses and creating value, that should be the route which Reliance should have taken. But anyway, management is wiser and they feel that they should do IPOs. But for minority shareholders that doesn’t work out. And generally, it’s a very, very complicated company also now. It’s got a large weightage in Nifty and Sensex, so you can’t avoid it, you have to have it in your portfolio. But I’m not so sure that Reliance Industries per se, as a holding company can provide a decent outperformance as compared to Nifty and Sensex.”

On IT Sector

“There are only two companies in the software services businesses, Persistent and Coforge which defy all expectations. And at the end of the day, they appear to be like any of the other software services companies like Infosys, TCS, Mphasis, and LTI Mindtree, and all of these companies. Yet, these two companies, I’m sure, are doing something different, which is why they’re able to generate these kind of growth rates. I’m very, very impressed with both these companies and as a disclosure, they’re the only two companies in the software services space, which we are positive on and have invested in. So, I think that it’s a consistent trend that these are outliers, and they’re trading at extremely high PE multiples, fully justified. So as such, I would remain invested in them and look for buying opportunities at corrections.”

Net Profit At ₹10 Cr Vs Loss Of ₹6 Cr (YoY)

Revenue (GU)42.8% At ₹239 Cr Vs ₹167.4 Cr (YoY)

Govt May Allow Direct FDI In PSU Banks Up To 49% Vs Current Limit Of 20%

LTIMindtree Secures $100 Million Multi-Year Deal With Major Global Manufacturer Of Chemicals & Polymers

On Monday, October 27, SRF Ltd., a manufacturer of speciality chemicals, released operational results that were just a little worse than what a CNBC-TV18 poll had predicted.

SRF recorded a 6.3% increase in revenue to ₹3,640.2 crore from ₹3,424 the previous year. The amount is less than the ₹3,852 crore predicted by a CNBC-TV18 survey.

SRF Q2

From Reports

UK Govt Says | Govt Supports JLR Through Provision Of A Guarantee For A Commercial Loan

The shares of Stylam surged by over 5% on Monday; this is in addition to the surge witnessed this month.

Mumbai-based petrochemicals company Supreme Petrochem is banking on its new ABS (Acrylonitrile Butadiene Styrene) plant and an expanding portfolio of value-added products to drive recovery after a challenging second quarter.

The company’s ABS plant, which has begun trial production, is expected to be a major growth engine over the next few quarters.

here

SBI Life, Grasim, Eternal, Bharti Airtel and Reliance Industries are the top Nifty 50 gainers.

A total of 38 of the 50 stocks are trading with gains.

Honasa Consumer Ltd — the parent of personal care brand Mamaearth — appears to be entering a rebuilding phase as it works to revive growth and profitability.

here

Genuine spare parts to be made available to independent garages, mechanics across country.

Tata Investment Q2

Net Profit Up 16.5%

At ₹148 Cr Vs ₹127 Cr (YoY)

Revenue up 8.5%

At ₹154 Cr Vs ₹142 Cr (YoY)

EBITDA Up 8.2%

At ₹144 Cr Vs ₹133 Cr (YoY)

Margin At 93.3% Vs 93.5% (YoY)

This capital inflow represents a major vote of confidence in the nation’s financial system, according to Rajnish Kumar, the former chairman of the State Bank of India (SBI), and Amit Thawani, managing director and head of investment banking at Nomura India.

As the markets look to scale new heights, these are the stocks trading with higher-than-usual volumes among the Nifty 500 stocks. (10-Day average).

As it seeks to accelerate growth across its business verticals, financial services company PL Capital, a member of the Prabhudas Lilladher Group, announced on Monday that Zarin Daruwala has been appointed as its Group Chief Executive Officer, effective October 13, 2025.

The shares of Supreme Industries fell by over 1% after the company announced its quarterly results.

On Monday, October 27, Hatsun Agro Products Ltd.’s stock increased by more than 20% following the company’s announcement of a 70% year-over-year increase in net profit to ₹109.54 crore for the second quarter ending September 30, 2025. Last year, the net profit for the same period was ₹64.32 crore.

Supreme Ind Q2

The shares of Bharti Airtel surged to hit a record high on Monday’s trade.