Stock-specific action remained in focus on Dalal Street on October 23, with investors reacting to brokerage recommendation and quarterly earnings.
Havells India shares slipped 4% after Nomura maintained a Neutral rating with a target price of Rs 1,232 per share. The brokerage noted that Q2FY27 EBITDA exceeded estimates, while price hikes are supporting growth. However, rising competition remains a threat to margin recovery. The stock trades at 32 times FY28 earnings per share (EPS), which Nomura considers fair value.
Nuvoco Vistas Corporation share price fell 2 percent after the company reported a 79.2 percent year-on-year surge in consolidated Q2 profit to Rs 65.3 crore, while revenue increased 13.5 percent to Rs 2,790 crore.
BlueStone Jewellery and Lifestyle share price shed 3 percent after the company narrowed its consolidated Q2 net loss significantly to Rs 3.2 crore from Rs 51.7 crore a year ago, while revenue surged 45 percent to Rs 745 crore.
CreditAccess Grameen shares fell 6 percent after the company reported a 299 percent year-on-year jump in standalone Q2 profit to Rs 501.6 crore, while revenue grew 31.3 percent to Rs 1,350.7 crore.