Sun Pharma, HCL Technologies, Bharti Airtel, M&M, Lupin, Yes Bank, Kotak Mahindra Bank and Eicher Motors were early gainers.

Footwear retailer Khadim India started off the first day on a tepid note. The stock listed at Rs 723 on the National Stock Exhange, a 3.6 percent discount to issue price of Rs 750 per share.

The stock fell as much as 4.5 percent in early trade to hit day’s low of Rs 716 while its pre-opening price of Rs 730 remained the highest level.

Metals and mining giant Vedanta has submitted a preliminary expression of interest (EoI) for Jaypee Infratech currently undergoing the Insolvency
Resolution Proceedings (IRP).

9:50 am Pre-opening: Khadim India share price has settled at Rs 730 on the National Stock Exchange, lower by 2.7 percent from issue price of Rs 750 per
share.

9:45 am Earnings Reaction: Shares of Madhucon Projects, Jindal Poly Films and Tamil Nadu Newsprint were down 3-8 percent in morning on the back of poor Q2 (July-September) numbers.

Madhucon Projects has recorded 64 percent fall in its Q2 net profit at RS 3.3 crore and revenue was down 14 percent at Rs 118 crore.

Jindal Poly Films’ Q2 net profit declined 40 percent at Rs 41.2 crore and revenue was down 2 percent at Rs 1,807 crore. EBITDA was flat at Rs 162.6 crore, while margin was up 20 bps at 9 percent.

Tamil Nadu Newsprint (TNPL) has reported loss of Rs 13 crore in the quarter ended September against profit of Rs 70.5 crore, in the same quarter last fiscal.

source: moneycontrol.com