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On Tuesday, October 28, following the release of the state-run refiner’s September quarter earnings, shares of Indian Oil Corporation Ltd. began the day higher but quickly reversed their early gains and were trading lower.

Indian Oil’s sales of ₹1.79 lakh crore was marginally higher than the street’s estimate of ₹1.77 lakh crore, while its net profit of ₹7,610 crore exceeded the ₹6,353 crore projection.

After market hours on Monday, Canara Robeco Asset Management Company Ltd. released its quarterly results, which caused shares to drop as much as 11% on Tuesday, October 28.

Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) plunged 17% from June to ₹17%, while revenue decreased 11% sequentially to ₹107.7 crore.

Among recent financial sector deals, Parag Thakkar, Senior Fund Manager at Fort Capital, has stated a highly optimistic perspective on shares of private sector lender Federal Bank, making it his top choice. He predicts that a strategic shift under the bank’s new leadership and strong performance indicators might propel the stock to a price target of ₹300 to ₹320 within the next year.

On Tuesday, October 28, Megasoft Ltd. shares are stuck in a 5% upward circuit for the fifth consecutive session. A 100% stake in Nasmyth Group Ltd., UK, has been acquired through a share purchase agreement executed by Sigma Advanced Systems UK Ltd, the company’s fully owned subsidiary; the exchanges were notified.

Stated contamination of Crude Oil by HPCL is being examined by the company, no loss or damage or claim is attributable to the company in terms of the agreement with HPCL,’ HOEC clarifies to HPCL’s statement on crude oil sourcing

Market off opening lows, Nifty back above 26,000

The shares of Multi-Commodity Exchange Of India Ltd MCX declined by over 1% after a technical glitch delayed the opening of trading.

JK Tyre shares are trading with gains after reporting its Q2 results yesterday.

The shares of PNB Housing  Finance shares recover from lows, after falling over 5%.

Sai Silks up over 9%, Canara Robeco AMC 9% Bata falls nearly 10% & 6% respectively on Q2 earnings impact

The shares of Canara Robeco AMC fall over 9%

Market opens lower, Nifty below 26,000, Nifty Bank down over 100 points

Sudarshan Sukhani, Technical Trends

Buy Aditya Birla Capital with a stop loss of ₹305

Buy Bharat Forge with a stop loss of ₹1,280

Buy Canara Bank with a stop loss of ₹127

Buy Siemens with a stop loss of ₹3,100

Mitessh Thakkar of Bonanza Portfolio

Buy CDSL with a stop loss of ₹1,615 and a target of ₹1,675-1,680

Buy Computer Age Management Services with a stop loss of ₹3,920 and a target of ₹4,050

Buy ABB India with a stop loss of ₹5,200 and a target of ₹5,320

Sell Exide Industries with a stop loss of ₹386.50 and a target of ₹370

Rupee Opens At 88.32/$ Vs Monday’s Close Of 88.24/$

AB Cap Large Trade | 2.66 Cr Shares (1.02% Eq) Worth ₹819 Cr Change Hands At ₹308/sh In Block Deal Window

Here’s a list of stocks in focus going into trade today

Here’s a list of stocks in focus going into trade today

Here’s a list of stocks in focus going into trade today

Here’s how the global market cues are placed this morning

Here’s how the global market cues are placed this morning

Anuj Mathur, MD&CEO, Canara HSBC Life Insurance Q2, On CNBC-TV18

Following the lender’s announcement that the Reserve Bank of India (RBI) has returned its application for a voluntary transition to a universal bank, shares of Jana Small Finance Bank Ltd. will be the subject of attention on Tuesday, October 28.

According to Jana Small Finance Bank’s exchange filing, the central bank rejected the application, stating that the eligibility requirements had not been met.

Megasoft Ltd. notified the stock exchanges that Sigma Advanced Systems UK Ltd., its fully owned subsidiary, has agreed to buy out all of the shares in Nasmyth Group Ltd., UK.

If the usual closing conditions are met, the deal, which is estimated to be worth ₹213 crore in cash, will be finished in four weeks. One or more tranches of the transaction are anticipated to be performed.

Jana SFB Says

With a price objective of ₹10, the international broking firm Citi has kept its ‘High risk buy’ rating on Vodafone Idea Ltd. after the Supreme Court ruled that the government can re-examine the telecom operator’s complaints regarding adjusted gross revenue (AGR) claims.

Motilal Oswal, a broking firm, upped its rating of Tata Steel Ltd. shares from “neutral” to “buy” on Tuesday, October 28.

Additionally, the broking raised its price objective for the Tata Group stock from ₹180 to ₹210, suggesting a possible 19% increase from Monday’s closing prices.

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