News Overview

The BSE midcap index recorded a 0.4% decrease, while the smallcap index concluded the session on a relatively neutral note.

Standalone revenue from operations for Ambuja Cements in Q2FY24 increased by 8% to Rs 3,969.79 crore, compared to Rs 3,675.61 crore in the previous year

Year-to-date (YTD) domestic unit sales for Bajaj Auto showed a 25% growth

Domestic passenger vehicle (PV) sales for M&M in October 2023 increased by 35% to 43,708 units compared to 32,298 units in October 2022

Recommendation: Add; Target Price: Rs 3520

Compact car sales also saw an increase, with 80,662 units sold in October 2023, up from 73,685 units in the same period the previous year

This acquisition is expected to potentially double the company's existing Indian capacity from 8 billion units per annum

Additionally, the company received tentative approval from the US FDA for its ANDA for Apalutamide tablets

Foreign Institutional Investors (FIIs) were net sellers of equities worth Rs 696.02 crore on the preceding day, as per exchange data.

Recommendation: Buy; Target Price: Rs 922