Stock-specific action remained in focus on Dalal Street on October 30, with investors reacting to brokerage recommendation, corporate developments and quarterly earnings.
Shares of Sun Pharmaceutical Industries rose 1.5 percent after U.S. Food and Drug Administration (FDA) has approved the supplemental Biologics License Application (sBLA) for ILUMYA (tildrakizumab-asmn) for the treatment of adults with active psoriatic arthritis (PsA).
Vedanta Oil and Gas share price gained 8.5 percent after company’s Q2 consolidated profit stood at Rs 746 crore versus a loss of Rs 92 crore, while revenue increased 6.2% to Rs 2,488 crore versus Rs 2,342 crore, in the year-ago period.
Share price of MTAR Technologies shed 4 percent even company’s Q2 profit increased 19.1% to Rs 59.8 crore versus Rs 50.2 crore and revenue rose 12.8% to Rs 406.8 crore versus Rs 360.7 crore, on a sequential basis.
Raymond Lifestyle shares declined 2.6% despite Jefferies maintained 'buy' rating with a target price of Rs 800 per share. The brokerage noted that September quarter revenue grew 13 percent, while EBITDA margin stood at 10.6 percent, slightly missing estimates due to higher pre-festive advertising spend. It expects stronger H2 performance driven by festive and wedding demand, supported by a healthy garmenting order book.