Sensex Today | Stock Market LIVE Updates: Nifty down 10% from record high, Nifty Bank below 50,700

Alkem Laboratories on Wednesday, November 13, reported a 11% year-on-year increase in net profit to ₹689 crore in the September quater. The company reported ₹621 crore profit in the corresponding quarter of the previous year.

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Macquarie’s Sandeep Bhatia expects the Nifty 50 index to fall another 10% in the next three to six months, despite the benchmark index already correcting 10% from its record high levels of 26,277 on September 27.

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– Net profit up 11% at ₹689 cr vs ₹621 cr (YoY)

– Revenue down 0.7% at ₹3,414.6 cr vs ₹3,440 cr (YoY)

– EBITDA up 0.8% at ₹753 cr vs ₹746.7 cr (YoY)

– Margin at 22% vs 21.7% (YoY)

– Net profit up 95.2% at ₹73.4 crore vs ₹37.6 crore (YoY)

– Revenue up 15% at ₹1,174.3 crore vs ₹1,021.3 crore (YoY)

– EBITDA up 16% at ₹162.3 crore vs ₹140 crore (YoY)

-Margin At 13.8% Vs 13.7% (YoY)

Earnings downgrades that now come in will be in double digits after a disappointing earnings season, according to Bhatia, who adds that the real challenge will be what happens to fund flows over a period of time.

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Nazara Technologies Ltd shares gained over 3% to hit an intraday high of ₹911 apiece on the BSE on Wednesday, November 13, after the company said it had joined the ONDC network to unlock the potentials of in-game monetisation.

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Nazara Technologies informed the exchanges on November 13 that it has integrated with the Open Network for Digital Commerce (ONDC) to launch ‘gCommerce’.

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Here are a couple of stock recommendations by technical analyst Mitessh Thakkar:

Sell DRL with a stop loss of ₹1,262 and a target of ₹1,210
Sell HDFC Life with a stop loss of ₹700 and a target of ₹660-655

Samvardhana Motherson shares fell another 3.5% in early trade on November 13 after the stock ended nearly 5% lower in the previous session following the company’s September quarter results. Even as the auto component maker missed CNBC-TV18 analysts’ poll expectations across parameters, most brokerages remain bullish on the stock.

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#SIAM October Data Watch: Passenger Vehicle Sales Up 1% At 3.93 Lk Units Vs 3.89 Lk Units (YoY)

2-wheeler Sales Up 14% At 21.6 Lk Units Vs 19 Lk Units (YoY)

3-wheeler Sales Down 1% At 76,770 Units Vs 77,344 Units (YoY)

Here’s more???? pic.twitter.com/YJEJXZSss8

— CNBC-TV18 (@CNBCTV18Live) November 13, 2024

From Amber Enterprises to Angel One, these stocks have still held on to substantial gains despite the Nifty Smallcap index correcting 10% from its record high.

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Company says it’s seeing a 60-80% growth rate in the quick commerce industry, hope to beat those numbers

Nazara integrates with ONDC network to launch gCommerce in India pic.twitter.com/fGkUkhFcqb

— CNBC-TV18 (@CNBCTV18Live) November 13, 2024

A total of 42 out of the 50 stocks are trading with losses

Shares of ACME Solar Holdings Ltd. made a muted debut at the bourses on Wednesday, November 13, as the Gurugram-based company commenced its trading at ₹251 on NSE, a discount of 13.15% over its issue price of ₹289.

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Nifty breached 23,700 for the first time since June 26, 2024

Shares of Swiggy Ltd. listed at a premium of nearly 8% on Wednesday, November 13. The stock debuted at ₹420 on NSE, up 7.69%, while on BSE, it debuted a premium of 5.6%, at ₹412, over its initial public offer (IPO) price of ₹390.

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-Clearly More Downside To Market, Maybe Even 10% From Here
-Very Cautious On Markets
-Important To See Fund Flows Over A Period Of Time
-Consumption Weakness & Competition Persists In Consumer Names
-Need To Rotate Towards More Cash Flow Predictable Businesses

A total of 2.5 crore shares or 9.5% equity worth Rs 2,300 crore change hands at Rs 943 per share

#CNBCTV18Market | Market opens with cuts tracking weak global cues#Sensex #Nifty pic.twitter.com/zbfb8FSy0R

— CNBC-TV18 (@CNBCTV18Live) November 13, 2024

#StocksToWatch | Here’s a list of stocks that will be in focus, going into trade today pic.twitter.com/zZODG7afY5

— CNBC-TV18 (@CNBCTV18Live) November 13, 2024

Indian markets may open in the red according to the GIFT Nifty. Watch out for stocks like Reliance Industries, Swiggy, NTPC and more.

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Shares of Swiggy Ltd. will be listed on the exchanges on Wednesday, November 13, after the issue was subscribed 3.59 times in the primary market. The issue had a price band of ₹371-390 per share.

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India’s oldest exchange reported a 187.8% year-on-year (YoY) jump in net profit at ₹346.8 crore for the second quarter that ended September 30, 2024. In the corresponding quarter of the previous fiscal, BSE posted a net profit of ₹120.5 crore, the company said in a regulatory filing. Revenue from operations zoomed 137.3% to ₹746.3 crore against ₹314.5 crore in the year-ago period.

Consumer technology platform reported a net profit attributable of ₹10.04 crore for the quarter, up 71.6% year-on-year. The beauty company had posted a profit of ₹5.85 crore in the same quarter last fiscal year. On a quarter-on-quarter basis, the net profit was 4.1% higher. FSN’s consolidated revenue from operation for the three months ended September stood at ₹1,874.74 crore, marking a 24.4% increase over the ₹1,507.02 crore recorded in the corresponding quarter of the previous financial year.