Stock-specific activity is likely to remain in focus on Dalal Street on October 7, following a slew of corporate developments, brokerages call and earnings.
Titan Company shares fell nearly 4 percent despite company reported strong Q2 business performance, with domestic business growing 22% YoY and international business surging 97%. Consumer business zoomed 25%, while the watch business registered 30% growth and the Eye Care segment reported 28% growth.
Asset Reconstruction Company India shares gained 10 percent after the company reported a 14.6% YoY rise in Q1 profit to Rs 59.1 crore from Rs 51.5 crore, while revenue surged 115.4% YoY to Rs 234.7 crore from Rs 109 crore.
Glass Wall Systems shares fell 6 percent after the company reported a 7.7% YoY decline in Q1 profit to Rs 17.3 crore from Rs 18.7 crore, while revenue surged 35.8% YoY to Rs 107.4 crore from Rs 79.1 crore.
Shares of PVR INOX added 7 percent after CLSA maintained outperform rating on the stock with a target price of ₹2,135, citing recovering cinema demand as consumers seek premium out-of-home experiences, OTT fatigue and improving Bollywood, Hollywood and regional content. The brokerage noted that PVR INOX controls around 1,800 of India’s 4,000 multiplex screens, with rising footfalls and expansion funded through internal cash flows. It has identified 300 Tier-3/4 towns for smart-screen expansion, while a net cash balance sheet and recent ₹300 crore buyback provide financial flexibility.