Indian equity benchmarks ended higher on Monday with the Sensex gaining 491.01 points or 0.85% to settle at 58,410.98. The Nifty gained 126.10 points or 0.73% to end at 17,311.80.

The broader indices ended green with the BSE MidCap index gaining 0.26% and the SmallCap index up by 0.09%. The top gaining sectoral indices on the BSE Utilities by 1.86%, Power by 1.85%, Bankex by 1.60%, PSU by 1.42% and Energy by 0.66%. On the downside, Metal was down by 0.84%, Realty was down by 0.48%, Telecom was down by 0.22%, Capital Goods was down by 0.20% and Industrials was down by 0.05%. 

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Avenue Supermarts: D-Mart stores operator’s shares plunged by 3.49% to Rs 4,153.15 after the company announced weak operational performance in the second quarter (Q2FY23). The company’s revenue per store increased by 9% year on year and revenue/sqft remained 10% below pre-covid levels in Q2FY20, owing to larger store sizes and inflationary pressure in the non-food sector. Avenue Supermarts saw its stock price trade at its lowest point since August 23, 2022, hitting an eight-week low. The stock has dropped 6% in the last week, compared to a 0.29% advance in the Sensex. 

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BLS International Services: The stock opened positive and surged 10.31% to close at Rs 319.95  on the BSE after ace investor Shankar Sharma acquired a stake in the company. Sharma bought 11.5 lakh equity shares at an average price of Rs 275 per share, as per the data. His stake in the company is valued at around Rs 31.63 crore. 

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Shree Cement: The stock opened in red territory, at Rs 20,655.25 and ended 1.62% lower at Rs 20,821.00. The company on Friday reported a 67.5% year-on-year decline in total net profit at Rs 189.6 crore for the second quarter of the financial year 2022-23, due to weak operating performance and higher power and fuel costs. Gross revenue from operations grew by 17.9% year-on-year to Rs 3,780.9 crore in Q2FY23. At the operating level, EBITDA fell 41.7% to Rs 523.3 crore hit by freight & forwarding expenses. Margin tanked 1,420 bps to 13.8% compared to the year-ago period.

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Bajaj Auto: The stock opened in green and ended 1.64% higher at Rs 3,629.40 at the BSE after the company reported a 15.7% year-on-year decline in consolidated profit at Rs 1,719.4 crore for the second quarter of the financial year 2022-23. The profit was boosted by exceptional income. Revenue grew by 16.4% to Rs 10,202.7 crore, while EBITDA jumped 25% to Rs 1,749.6 crore. The EBITDA margin expanded by 120 bps year-on-year to 17.2% in reported quarter.

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Oberoi Realty: The stock opened with a negative gap and ended at Rs 857.00, down by Rs 43.00 or 4.78% on the BSE. The real estate company on Saturday reported a 19.5% year-on-year growth in consolidated profit at Rs 318.62 crore for the second quarter of the financial year 2022-23, led by an increase in income from joint ventures against significantly low income in the year-ago period. Revenue declined 8.7% year-on-year to Rs 688.6 crore in the second quarter of the financial year 2022-23. 

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Zee Entertainment Enterprises: The stock ended at Rs 263.70, down by 1.38% after its shareholders approved the proposed merger of ZEE and Bangla Entertainment with and into Culver Max Entertainment, formerly Sony Pictures Networks India. ZEE already received approval from the Competition Commission of India (CCI) for the merger on October 4, and from the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in July 2022.