Sensex Today | Stock Market Highlights: Nifty closes with gains of 250 points led by FMCG and banking stocks

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

Mayuresh Joshi Head – Equity Research, William O’ Neil

Nestle India

Nestle’s numbers stood out on two counts. One, the superior growth that they probably exhibited, the 10.8% sales growth that has happened with higher single digit volumes and three out of their four categories, including confectionery, packaged foods, the coffee business also doing well, augurs well because this was a tough quarter for FMCG companies. They were just coming out of a lull. Demand was expected to still remain soft, and yet they have performed relatively better in terms of performance, both in terms of price as well as volume. So, going forward again the expectation, largely in terms of input cost, which largely would have hurt their margins a tad bit in this quarter, might also inch higher, because you are expected to see milk prices, coffee prices, cocoa prices remain benign. Though palm oil prices might be a little bit higher. So I think even the margins might start moving a tad bit higher, and that expectations of more stores expected to open up, specifically on the semi-urban and rural front, along with the plant at Sanand for Maggi, I think there can be significant push that can come through. Valuations have always remained expensive, but if they are able to deliver in Q3, Q4 with GST rationalisation those premium multiples might work.

Eternal

For Eternal, the entire aspect here, as we have always maintained, is valuation still remains sky high for Eternal. Competition still remains extremely intense, and therefore how margins play out specifically in the food delivery business is going to be extremely critical. Volumes will show an uptick in this quarter, because with festivities around both quick commerce and food delivery, should pick up quite significantly. They have accelerated the store opening, but the valuations are very, very expensive.

MARKET AT CLOSE

Pramod Gubbi, Co-founder, Marcellus Investment Managers

Eternal -quick commerce

The shares of Eternal is down over 10% from the highs after the company announced the Q2 results.

Zee Entertainment Q2

Net Profit (RD)65.3% At `76.5 Cr Vs `220.2 Cr (YoY)

Revenue (RD)1.6% At `1,969.2 Cr Vs `2,001 Cr (YoY)

EBITDA (RD)51% At `159 Cr Vs `323.5 Cr (YoY)

Margin At 8.1% Vs 16.2% (YoY)

The Indian Railway Finance Corporation (IRFC) is expanding beyond conventional railway funding thanks to its new IRFC 2.0 strategy, according to Manoj Kumar Dubey, CMD of the organisation.

By concentrating on initiatives related to the railway ecosystem, like power supply and port connectivity, the plan enables IRFC to diversify while upholding a low-risk, government-supported business model.

Eternal Says

Quick commerce business has led the business for Eternal, which owns food delivery app, Zomato and Quick commerce app, Binkit.

Eternal Q1 Results

YOY Comparison

Desco Infra | Signs MoU With KPI Green For Hydrogen-Natural Gas Blending Projs & Infra Dvpt

PNC Infrastructure

The infrastructure company has bagged Order Worth ₹297 Cr from the Airports Authority Of India (AAI)

Market rally adds ₹3.5 lakh crore in investor wealth as the Indian indices surged owing to strong Q2 results.

ADITYA BIRLA FASHION & RETAIL To CNBC-TV18

GALERIES LAFAYETTE GROUP To CNBC-TV18

ADITYA BIRLA FASHION & RETAIL To CNBC-TV18

EMS | Receives LoA From UP Jal Nigam For An Order Worth ₹184 Cr

The shares of media company Tips Music surged by over 7% after announcing Q2 results.

Market extends gains, Nifty above 25,600 for the first time since July 2

Net profit for the period increased by 8.2% from last year to ₹351 crore. The bottomline figure was aided by a 26% increase in the lender’s other income to ₹516 crore.

The lender’s Net Interest Income, or core income that it earns, declined by 8.3% on a year-on-year basis to ₹809 crore from ₹882 crore during the same quarter last year.

here

The last time Nifty hit the 25,600 levels was on July 2

Nifty trades at nearly four-month high, approaches 25,600

Nifty Bank is nearing record high, big buying is seen in banks

Midcap index in the green, but is relatively underperforming

Kotak Mahindra Bank, Axis Bank, HDFC Bank and ICICI Bank are top contributors to Nifty Bank

Nestle India is top nifty 50 gainer after quoting strong Q2 results

All sectoral indices are trading with gains, realty and FMCG top gaining indices

Mixed Q2 from HDFC Life leads to selling in insurance names

KEI Industries’ delay in Sanand plant commissioning weighs on the stock

Realty names see buying for second straight day, Oberoi Realty is the top gainer

Kajaria Ceramics Q2

Bharat Bijlee Q2

Shyam Metalics | Commences Phase I Of The Greenfield Cold Rolling Mill At The Jamuria Plant In West Bengal

South Indian Bank Q2

The Nifty index has surged over 200 points. Here are the top contributors.

After announcing its Q2 results, the Indian Bank shares recovered over 3% from their lows.

The share of Swaraj Engines is under pressure after the company announced Q2 results.