The Indian stock market is anticipated to begin cautiously, with SGX Nifty trends indicating a flat opening for the index in India with a 1 point gain. The BSE Sensex dropped 360.78 points to 58,765.58, while the Nifty50 plummeted 86.20 points to 17,532 and created a Doji pattern on the daily charts. On a weekly basis, the index formed a bearish candle, falling 1.8 percent for the week.

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According to pivot charts, the Nifty’s major support levels are 17,470.94, followed by 17,409.77. If the index continues to rise, the major resistance levels to monitor are 17,575.24 and 17,618.37.

Top stocks in focus today:

Indian Hume Pipe Company

CARE maintained the company’s long-term bank facilities’ credit rating at A-, but changed the outlook to negative from stable.

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India Glycols | WHV-EAM International 

According to bulk transactions data, India Glycols | WHV-EAM International Small Cap Equity Fund purchased 1,86,947 equity shares in the business on the NSE for Rs 830.22 per share. While resolving the Rating Watch Positive, India Ratings & Research raised the company’s long-term issuer ratings to ‘A/Stable’ from ‘A-/Stable’ (RWP).

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Just Dial | Nalanda India Equity Fund

According to the bulk transactions data, Just Dial | Nalanda India Equity Fund sold an additional 5,97,482 equity shares in the business on the NSE for Rs 990.01 per share.

CSB Bank

In the September 2021 quarter, total deposits (provisional) climbed by 9.12 percent year on year to Rs 19,061.62 crore, while gross advances increased by 12.09 percent year on year to Rs 14,304.14 crore.

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Cipla

Eli Lilly and Cipla have joined up to offer diabetic medications in India.

Steel Strips Wheels

Shareholders authorized the split of the company’s equity shares from 1 (one) equity share with a face value of Rs 10 each to 2 equity shares with a face value of Rs 5 each.

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Gati

CARE has upgraded its ratings for long-term bank facilities and the fixed deposit (FD) scheme to ‘BBB, with Stable Outlook.’

Hero MotoCorp

In September 2021, the business shipped 5,30,346 bikes and scooters, compared to 7,15,718 in September 2020.

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KPI Global Infrastructure

The business has signed an O&M Agreement and a Land Lease Agreement for a duration of 25 years with Anupam Rasayan India for a 12.50 MW solar power plant under the CPP category, totaling Rs 39 crore.