Stock-specific action remained in focus on Dalal Street on October 7, with investors reacting to corporate developments, brokerages call and quarterly business updates.
Kanohar Electricals shares surged 16 percent after the company reported a 140% YoY jump in Q1 profit to Rs 27.3 crore from Rs 11.4 crore, while revenue zoomed 103.5% YoY to Rs 137.1 crore from Rs 67.4 crore.
Shares of Gland Pharma added 4 percent after Nomura retained Buy rating with a target price of ₹3,750, citing the CDMO, biologics and in-licensing pivot, which is expected to support around 20% revenue CAGR. Four strategic pillars, stabilising Cenexi and growth in biologics and specialty are key drivers, while the stock trades at 30.6x one-year forward PE. Nomura sees scope for multiple expansion as the business shifts toward a more CDMO-centric model, with successful biologics CDMO build-out and traction with innovator clients potentially making growth more durable.
Marsons shares gained 6 percent after the company and New York-based private equity firm Cleanhill Partners announced their intent to form a joint venture to accelerate transformer distribution, servicing and manufacturing operations across the US and Canada.
Broader indices outperforming the main indices with Nifty Midcap index falling 0.5%, while smallcap index was trading flat.