Stock-specific activity is likely to remain in focus on Dalal Street on November 3, following a slew of corporate developments, and earnings.
Samvardhana Motherson share price rose 1.6 percent after the Motherson Group announced a collaboration with Singapore's Nanyang Technological University to advance Spinheat, a magnetic induction technology that can cure industrial coatings within minutes while consuming significantly less energy than conventional oven-based methods. The collaboration aims to industrialise the technology for applications involving resin coatings on automotive and aerospace components.
LIC Housing Finance share price rose 2 percent after CLSA maintained 'outperform' rating with a target price of Rs 620 per share. Q2FY27 net interest income (NII) was in line with estimates, while lower credit costs due to recoveries from written-off accounts drove a 15 percent beat in profit after tax (PAT). Net interest margin (NIM) remained stable quarter-on-quarter, and a 25 bps increase in prime lending rates is expected to support margins.
TVS Holdings share price rose 2 percent after the company was allotted an additional 12.55 crore equity shares worth Rs 483.91 crore in its subsidiary Home Credit India Finance through a rights issue. Following the allotment, TVS Holdings' shareholding in the subsidiary remains unchanged at 74.45%.
Akums Drugs and Pharmaceuticals share price gained 5 percent after the company reported a 176.7 percent year-on-year surge in Q2 consolidated net profit to Rs 112.9 crore, while revenue increased 31.9 percent to Rs 1,342.4 crore.