Buzzing Stocks: On Monday, October 21, the stock market remained in the red during afternoon trading. By 12:47 pm, the S&P BSE SENSEX was down 0.21% at 81,050.17, while the NSE NIFTY50 declined 0.41% to 24,752.10.
Tata Chemicals shares saw a surge of over 10% to ₹1,197.50, supported by growing interest surrounding the Tata Sons IPO. Market activity around the stock has been driven by recent developments related to Tata Sons’ potential listing, which has attracted significant investor attention.
Here is a list of buzzing stocks in today’s trade:
Tata Chemicals: Stock Surges Over 10% Amid Tata Sons IPO Speculation
Tata Chemicals’ stock price surged by over 10% to ₹1,197.50 on the BSE amid renewed interest in Tata Sons’ potential IPO. The Reserve Bank of India has reportedly denied Tata Sons’ request for an exemption from listing, although other reports suggest the company has yet to apply. This news has contributed to the stock’s impressive rise.
Read More: Upcoming Tata Group IPOs
Tejas Networks: Posts Strong Profit Growth, Shares Climb 9%
Shares of Tejas Networks soared nearly 9% to ₹1,295.95 after the company posted a consolidated profit of ₹275.18 crore, a stark contrast to the loss of ₹12.64 crore in the same period last year. The Tata Group company also reported a significant increase in revenue, with total revenue from operations at ₹2,811.26 crore, up from ₹396 crore in Q2 FY24.
Also read: Waaree Energies Ltd IPO Latest GMP Price – Details Here!
IndiaMART InterMESH Ltd: Shares Fall 17% After Jefferies Downgrade
IndiaMART InterMESH shares plummeted by nearly 17% to ₹2,508 apiece after Jefferies downgraded the stock. Despite the company’s previous performance, investor sentiment took a hit following the downgrade, causing significant sell-offs in the market.
RBL Bank: Shares Tumble 14% Following Earnings Report
RBL Bank’s shares dropped by 14% to ₹176.50 on the BSE following a disappointing Q2 FY25 earnings report. The bank posted a 24% decline in net profit to ₹223 crore, driven by asset quality challenges in its credit card and microlending segments, further weighing on investor confidence.
Tata Consumer Products: Stock Drops 7% After Marginal Profit Growth
Shares of Tata Consumer Products fell over 7% following the company’s Q2 FY25 results. The company reported a marginal increase in net profit to ₹367.21 crore, while its revenue from operations rose by 12.87% to ₹4,214.45 crore. However, rising expenses of ₹3,836.18 crore in the quarter, up 15.61%, dampened investor sentiment.
Also read: UltraTech Cement Sees 35% Profit Drop in Q2 Earnings
JSW Holdings: Stock Rallies 16% Amid Strong Market Performance
JSW Holdings saw its shares jump over 16% to ₹10,940 on the NSE. As a non-banking financial company (NBFC) and investment arm of the JSW Group, JSW Holdings’ recent market performance has attracted increased investor interest, contributing to its rapid rise.
Tech Mahindra: Shares Hit 52-Week High on Strong Profit Growth
Tech Mahindra shares hit their 52-week high of ₹1,761.30, following the company’s impressive Q2 FY25 results. The firm posted a 153.1% year-on-year jump in consolidated net profit to ₹1,250 crore. Revenue for the quarter increased 3.49% to ₹13,313.2 crore, further boosting market confidence in the company’s strong performance.
Garden Reach: Shares Rise 3% on New Defence Orders
Garden Reach Shipbuilders saw a 3% rise in share price after the company received a Letter of Intent (LoI) from the Ministry of Defence for an order worth approximately ₹491 crore. The announcement reinforced the company’s growth prospects in the defence sector, driving positive market sentiment.
Mazagon Dock Shipbuilders: Stock Up 3.5% Ahead of Dividend and Stock Split
Mazagon Dock Shipbuilders’ shares rose by 3.5% as investors anticipate key announcements from the company’s board, including the declaration of an interim dividend and a potential stock split. These developments have bolstered investor confidence, leading to gains in the stock.
Bajaj Housing Finance: Shares Decline 1.6% Ahead of Q2 Results
Bajaj Housing Finance shares dipped by 1.6% to ₹137 ahead of its Q2 FY25 earnings report, expected later in the day. Investors appeared cautious as they awaited the company’s financial performance, contributing to a minor sell-off in the stock.
