Stock-specific action remained in focus on Dalal Street on October 28, with investors reacting to brokerage recommendation, corporate developments and quarterly earnings.
Share price of Exide Industries share price gained 3 percent after the company invested Rs 150 crore in its subsidiary, Exide Energy Solutions, through a rights issue to fund its greenfield lithium-ion battery plant in Bengaluru.
Tata Capital share price gained 3 percent after its Q2 consolidated profit surged 51.3% year-on-year to Rs 1,659.9 crore, while revenue grew 20.7% to Rs 9,341.8 crore.
Steel Authority of India share price fell 3 percent even its Q2 consolidated profit surged 318.1% year-on-year to Rs 1,750.5 crore, while revenue increased 19.8% to Rs 31,997.6 crore.
Mazagon Dock Shipbuilders shares hit 52-week low after HSBC maintained its 'reduce' rating and cut the target price to Rs 1,680 per share, citing weak Q2 results with significant misses on revenue, margins and profit after tax (PAT). While the P75I submarine order is expected in FY27 and could improve investor sentiment, its revenue contribution may take 2-3 years to materialise, with earnings expected to remain weak through FY27-29.