Market Opening Bell: Sensex opens at 84,379; Nifty at 25,863 – TD Power Systems, Bandhan Bank in focus today

Nifty 50 opened at 25,863.80, down by 41.45 points (0.16%). Bank Nifty opened at 57,942.45 decreased by 30.80 points (0.053%). Sensex opened at 84,379.79, down by 47.55 points (0.046%). GIFT Nifty is currently trading at 25,968.00.

Global index as of October 31, 2025

• DOW 30 closed at 47,522.12, down by 109.88 points (0.23%).
• S&P 500 closed at 6,822.34, down by 68.25 points (0.99%).
• NASDAQ decreased by 377.33 points (1.57%), closing at 23,581.14.
• FTSE 100 increased by 3.92 points (0.040%) to settle at 9,760.06.
• DAX  decreased by 5.32 points (0.022%), ending at 24,118.89.
• NIKKEI 225 increased 622.65 points (1.21%) to trade at 51,948.26.

 Commodities Update

• Gold: Currently trading at Rs. 121,145 per 10 grams.
• Silver: down by 0.48%, now at Rs 148,110 per kilo.
• Crude Oil: Prices down by 0.08%, reaching USD 63.845, compared to the previous close.

Global events/updates

• China’s manufacturing slowdown worsened in October, with the PMI falling to 49.0 a six-month low and below expectations of 49.6. The drop from September’s 49.8 signals continued weakness in factory activity. Manufacturing has been contracting since April, reflecting sluggish domestic demand and weaker global orders, posing challenges to China’s economic recovery.
• The Trump-Xi meeting led to a temporary easing of trade tensions. China agreed to pause rare earth export controls for a year, while the U.S. reduced tariffs on fentanyl-related imports to 10% from 20%. However, China’s strong control over global rare earth supplies still gives it major leverage, leaving long-term trade stability uncertain.
• Apple posted better-than-expected Q4 results and forecasted a strong December quarter, with revenue expected to grow 10–12% year-over-year. CEO Tim Cook credited the surge to exceptional demand for the new iPhone 17 lineup, launched in September, calling customer response “off the chart.” The upbeat outlook signals strong holiday season momentum for Apple.
• SpaceX and Blue Origin have both submitted new proposals to NASA to speed up the return of U.S. astronauts to the moon. SpaceX offered a “simplified” plan aiming to beat China’s 2030 lunar goal. After delays with Artemis III, NASA opened a competition, and Blue Origin also entered with its own lunar mission proposal.
• Dynamix Corporation III, a SPAC focused on AI and energy, raised $175 million in its IPO, with the option to expand to $201.25 million. The funds will target acquisitions in AI, energy, or digital assets. Backed by advisors from Nvidia and Prologis, the launch marks renewed investor interest as the SPAC market slowly rebounds.

Stocks to watch

• TCS: Signed a five-year pact with Tata Motors to digitize ESG data, aiming to enhance transparency and sustainability tracking across operations through advanced digital solutions.
• Swiggy: To consider raising up to ₹10,000 crore via QIP or other fundraising options on Nov 7 as it seeks to expand operations and strengthen financial flexibility and Consolidated loss widened to ₹1,092 crore from ₹626 crore YoY, even as revenue surged 54.4% to ₹5,561 crore.
• Hindustan Unilever: Received NCLT approval to demerge its ice cream business into Kwality Wall’s India Ltd, streamlining its structure and unlocking focused growth opportunities in the frozen dessert segment.
• Sunteck Realty: Will acquire full ownership of Shreejikrupa Hotels & Properties for ₹100 crore, marking a strategic move to expand its portfolio and boost hospitality and real estate holdings.
• Pidilite Industries: Plans to fully acquire its arm, Pidilite C-Techos Walling, by purchasing the remaining 40% stake to strengthen integration and expand its construction chemicals business.
• ITC Q2: Standalone profit rose 2% YoY to ₹5,179.8 crore; revenue fell 3.4% to ₹18,021.3 crore. EBITDA grew 2.1%, margins expanded to 34.7%. Board appointed Amitabh Kant as Director and reappointed Hemant Malik.
• NTPC Q2: Profit increased marginally by 0.1% YoY to ₹4,653.3 crore, while revenue dipped 2.9% to ₹39,166.6 crore, reflecting stable profitability despite softer topline due to lower power demand.
• DLF Q2: Consolidated profit declined 14.6% YoY to ₹1,180 crore and revenue slipped 16.8% to ₹1,643 crore, impacted by lower project deliveries and slower new bookings.
• Dabur India Q2: Posted a 6.5% YoY profit rise to ₹444.8 crore with 5.4% revenue growth to ₹3,191.3 crore, driven by steady demand in healthcare and home care segments.
• Bandhan Bank Q2: Profit slumped 88% YoY to ₹111.9 crore as provisions rose 90%; NII fell 11.8%. Asset quality weakened slightly with GNPA at 5.02% versus 4.96% QoQ.
• Indian Energy Exchange Q2: Profit grew 13.9% YoY to ₹123.3 crore, and revenue rose 10.4% to ₹153.9 crore, supported by higher transaction volumes in the power trading market.
• United Spirits Q2: Reported a 36.1% YoY jump in profit to ₹464 crore, with revenue rising 11.6% to ₹3,173 crore on strong premium brand performance.
• TD Power Systems Q2: Profit surged 45.8% YoY to ₹60.2 crore, and revenue climbed 47.7% to ₹452.5 crore, led by robust domestic and export orders.
• Ask Automotive Q2: Profit increased 18.6% YoY to ₹79.8 crore, with revenue up 8.2% to ₹1,053.7 crore, driven by higher demand from the auto components segment.
• Manappuram Finance Q2: Profit fell 62% YoY to ₹217.3 crore, and NII declined 18.5%, weighed by lower lending spreads and rising costs.
• Gillette India Q2: Profit rose 8% YoY to ₹143.7 crore, and revenue grew 3.7% to ₹810.8 crore, supported by steady grooming product sales.
• Welspun Corp Q2: Profit soared 53.2% YoY to ₹439.7 crore, with revenue up 32.5% to ₹4,373.6 crore, driven by strong demand in pipe and infrastructure projects.
• IIFL Finance Q2: Swung to a profit of ₹376.3 crore from a ₹157.7 crore loss YoY; NII rose 6.2%. Recovery driven by improved lending margins and lower exceptional items.
• Nippon Life India AMC Q2: Profit declined 4.3% YoY to ₹344.6 crore despite 15.2% revenue growth to ₹658.1 crore; board announced ₹9 per share interim dividend.
• LT Foods Q2: Profit rose 10.4% YoY to ₹163.9 crore, and revenue surged 31.2% to ₹2,765.7 crore, aided by strong basmati rice exports and branded product demand.
• Carborundum Universal Q2: Profit fell 35.7% YoY to ₹74.5 crore even as revenue grew 6% to ₹1,298.1 crore, impacted by rising input costs and weaker export markets.
• Lodha Developers Q2: Profit jumped 86.5% YoY to ₹788.7 crore, and revenue increased 44.7% to ₹3,798.5 crore, boosted by strong residential sales and project completions.
• Pidilite Industries Q2: Consolidated profit up 8.4% YoY to ₹579.2 crore; revenue grew 9.9% to ₹3,554.4 crore, supported by higher volumes in adhesives and construction chemicals.
• Motilal Oswal Financial Services Q2: Profit plunged 67.7% YoY to ₹362.6 crore, with revenue down 34.9% to ₹1,849.1 crore amid muted capital markets activity.
• Datamatics Global Services Q2: Profit surged 49.3% YoY to ₹63.2 crore, and revenue rose 20.5% to ₹490.2 crore, driven by strong demand for automation and AI-led services.
• Indegene Q2: Profit increased 11.3% YoY to ₹102.1 crore, and revenue rose 17.1% to ₹804.2 crore, driven by growing digital transformation demand in healthcare.
• Gravita India Q2: Profit rose 33.4% YoY to ₹96 crore, and revenue grew 11.7% to ₹1,035.5 crore, backed by strong lead recycling and export sales.
• Navin Fluorine International Q2: Profit jumped 152.2% YoY to ₹148.4 crore; revenue surged 46.3% to ₹758.4 crore, aided by specialty chemicals growth and export momentum.
• Reliance Industries: Partnered with Google to accelerate AI adoption in India through “Reliance Intelligence.” Eligible Jio users to get free access to Google’s Gemini AI Pro plan for 18 months, worth ₹35,100.
• LTIMindtree: Launched “BlueVerse with OGI,” an AI-driven ITSM platform designed to autonomously manage enterprise IT operations and enhance service efficiency across industries.
• Bharat Electronics: Secured additional orders worth ₹732 crore since Oct 22, including SDRs, missile components, cybersecurity tools, and tank subsystems, strengthening its defense electronics portfolio.
• V2 Retail: Opened its QIP with a floor price of ₹2,245.75 per share, aiming to raise ₹300 crore, extendable to ₹400 crore, for business expansion and store growth.
• MTAR Technologies: Received an international order worth ₹263.54 crore from an existing customer, reinforcing its strong global presence in precision engineering and clean energy components.

Bulk and Block Deals

Associated Alcohols & Breweries

Equity Intelligence India, the portfolio management company founded by ace investor Porinju Veliyath, has acquired 1 lakh shares (0.52% of paid-up equity) in the alcoholic beverages maker at Rs 1,160.6 per share, amounting to Rs 11.6 crore.

Chennai Petroleum Corporation

BofA Securities Europe SA has net bought 7.62 lakh shares (0.51% stake) in Chennai Petroleum Corporation at Rs 868.59 per share, for a total of Rs 66.2 crore.

Emergent Industrial Solutions

Isquare Global PE Fund has acquired 72,000 shares (1.57% stake) in Emergent at Rs 610.6 per share, for Rs 4.4 crore, from Davos International Fund.

Brokerage Recommendations

• Macquarie on Pidilite: Maintained an Underperform rating with a price target of ₹1,300, citing weak B2B segment growth due to higher tariffs impacting exports. However, it noted positive domestic demand, improving volumes, and steady growth in subsidiaries.
• CLSA on Bandhan Bank: Downgraded to Accumulate from Buy and reduced target price to ₹190. CLSA highlighted a still-declining microfinance book, though at a slower rate, and expects NIM recovery only by FY27.
• CLSA on Manappuram Finance: Downgraded to Hold with a price target of ₹290. The firm flagged ongoing losses in Asirvad Microfinance and noted growth driven mainly by higher gold prices, while tonnage and LTV levels remained steady.

Stocks Trade Ex-Dividend

• Coforge
• Laurus Labs
• NRB Bearings
• PDS
• Supreme Petrochem
• Jasch Gauging Technologies
• Julien Agro Infratech

Results Today

Maruti Suzuki India, Shriram Finance, GAIL India, Vedanta, Bharat Petroleum Corporation, Bank of Baroda, ACC, Aptus Value Housing Finance India, Bajaj Electricals, Balkrishna Industries, Bharat Electronics, Equitas Small Finance Bank, Godrej Consumer Products, Kalpataru Projects International, Dr Lal PathLabs, Patanjali Foods, Phoenix Mills, R R Kabel, Sammaan Capital, Schaeffler India, and Spandana Sphoorty Financial will release their quarterly earnings today.

Written by Abhishek Singh

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