ONGC stock price rises on strong q2 results

The Markets Today in a nutshell

• Domestic benchmark indices ended on a positive note.
• Easing inflation and falling crude oil prices boosted demand for equities. Autos and banks shares climbed. After opening higher at 18,362.75, the Nifty 50 index dropped to hit the days low of 18,282 in morning trade. However, buying re-emerged in mid-afternoon which pushed the index above 18,400 mark.

Capital Flows

News you could use

? Balkrishna Industries jumped over 4 percent even after weak Q2 results
Analysts believe that investors see light at the end of the tunnel as the company expects margin improvement from the fourth quarter. “The recent price correction in raw materials and logistics bode well for our margin profile. As guided, the benefits are expected to kick in from early Q4,” said the management in an analyst call.

? L&T and Mindtree merger approved by NCLT
LTI and Mindtree announced that both Mumbai and Bengaluru Benches of National Company Law Tribunal (NCLT) have approved, via two separate orders, the scheme of amalgamation and arrangement between the two companies and their respective shareholders and creditors. The two companies had announced their intent to merge in May 2022. 

? ONGC stock price rises on strong q2 results
The PSU company’s standalone net profit dropped 30.09% to Rs 12,825.99 crore in Q2 FY23 as against Rs 18,347.73 crore in Q2 FY22. Revenue from operations surged 57.53% to Rs 38,320.76 crore in quarter ended 30 September 2022 from Rs 24,353.61 crore recorded in the corresponding quarter previous year.

News from the IPO world?

• Fusion Micro Finance to debut on 15th Nov
• Inox Green IPO subscribed 1.54 times on final day
• Keystone Realtors IPO subscribed 11% on day 2

Numbers? that matter