After opening the negative note, Indian share markets pared losses as the session progressed and ended flat.

Benchmark indices ended flat as tepid global mood weighed on benchmark indices on Tuesday, halting their three-day rally.

At the closing bell, the BSE Sensex stood lower by 16 points.

Meanwhile, the NSE Nifty closed marginally lower by 5 points.

Sun Pharma and NTPC were among the top gainers today.

Coal India and JSW Steel, on the other hand, were among the top losers today.

The GIFT Nifty was trading at 19,456, down by 24 points, at the time of writing.

The BSE MidCap index gained 0.5% while the BSE SmallCap index ended higher by 0.4%.

Sectoral indices ended mixed with stocks in the oil & gas sector and healthcare sector witnessing most of the buying. Meanwhile stocks in realty sector and auto sector witness selling.

Shares of Sanofi India, Crisil, and Colgate hit their respective 52-week highs today.

Now track the biggest movers of the stock market using the stocks to watch today section. This should help you keep updated with the latest developments...

Asian share markets ended in positive territory. The Shanghai Composite ended flat while the Nikkei index fell 1.3%.

The rupee is trading at 83.26 against the US$.

Gold prices for the latest contract on MCX are trading down by 0.6% at Rs 60,405 per 10 grams.
 

DB Realty rallies 6%. Here's Why.

In news from the engineering sector, shares of DB Realty rallied over 6% to a 52-week high of Rs 193 on 7 November, buoyed by the company's strong Q2 earnings and plans to sell off a subsidiary for Rs 2.3 bn.

The company's net profit for the July-September period soared 55.5% on-year to Rs 8.8 bn as against Rs 5.7 bn a year ago, aided by an equally impressive revenue jump as it grew manifold to Rs 680 m, significantly higher than Rs 100 m clocked in the base period.

Other income also came at Rs 8.2 bn on the back of gains from divestment and unwinding of financial assets.

The company's operational performance also remained resilient as the EBITDA margin stood firm at 76%. The realty major's earnings before interest, taxes, depreciation, and amortization also improved significantly to Rs 517 m in Q2.

The company repaid debt worth Rs 8.2 bn during the quarter under review and announced plans to divest its 100% stake in Real Gem Buildtech to Rustomjee Group's Kingmaker Developers in a deal worth Rs 2.3 bn.

The company stated that the deal will lead to a considerable amount of free cash flow for DB Realty and will help to clean up its balance sheet.

Rekha Jhunjhunwala recently picked up an additional stake in this multibagger realty company. 
 

Info Edge Q2 Revenue Rises 4%

Moving on to news from the IT sector, Info Edge, on 7 November, reported that its revenue rose 4% to Rs 6.3 bn in the September quarter (Q2) amid weak growth of the billings of its flagship recruitment platform Naukri.

The company's profit (before exceptional items), however, surged 76% to Rs 2.6 bn as it brought down employee benefits, marketing, and other expenses.

On a standalone basis, Info Edge recorded 11.5% growth in its revenue from operations at Rs 5.9 bn in Q2 compared to Rs 5.3 bn in the corresponding quarter of the previous fiscal. 99acres.com, the real estate vertical of Info Edge, saw revenue grow by 28% to Rs 870 m.

The revenues for the quarter in the recruitment business grew 9.1% year on year. Billings of the company for the quarter grew by 4.8% year on year and stood at Rs 5.7 bn.

The company registered a growth of 26.8% in its operating profit, which stood at Rs 2.2 bn on a standalone basis for the quarter compared to a profit of Rs 1.7 bn in the year-ago period.

Info Edge stands among the top 10 fast-growing companies with high ROCE.
 

Trent Q2 Profit Rises 55.9%

Moving on to news from the retail sector, Trent, on 7 November, reported a consolidated net profit of Rs 2.9 bn for the September quarter of FY24, rising 55.9% from a profit of Rs 1.9 bn in the same quarter of the previous financial year.

Total revenue of the company came in at Rs 28.9 bn, rising 59% from Rs 18.4 bn in the year-ago quarter.

Earnings before interest, tax, depreciation, and amortization (EBITDA) were at Rs 4.6 bn, growing by 73%. The EBITDA margin was at 15.9% compared to 14.7% in the year-ago period.

As of 30 September 2023, the company's portfolio included 223 Westside, 411 Zudio, and 27 stores across other lifestyle concepts. During the quarter, the company added 6 Westside and 27 Zudio stores across 19 cities.

In 2023 so far, shares of Trent are up 54%, making it among the top overvalued stocks in the current market.

With a high valuation, it stands among top performing consumption stocks of 2023.

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