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Market Commentary

Overnight global action was Positive: On 23 rd Oct, U.S. markets were positive with S&P 500 up +39.01 pts (+0.58%), Dow Jones was up by +114.20 pts (+0.31 %) and Nasdaq was up by 218.41 pts (+0.88%). India VIX was up by ~0.4%. GIFT Nifty is trading flat at ~26,012 (+51.50 pts, +0.20%) indicating Indian markets will open positively.

On 23 rd Oct, advance decline ratio on NSE was 1305:1801 and BSE was 1809: 2464 which showed weakness in the overall markets.

Index Options Data Analysis:

Sensex max call OI is at 84,500 and max put OI is at 84,600 with PCR of 0.86

Nifty max call OI is 26,200 and max put OI at 25,500 with PCR of 0.89

Bank Nifty max call OI and max put OI both is at 57,000 with PCR of 1.11

Securities in Ban for F&O Trade for 24 th - Oct-2025:

NIL

Sectors in Focus:

IT: Nifty IT index was up by +2.21% with INFY (+3.57%), HCLTECH (+2.62%), and MPHASIS (+2.35%) contributing positively to the index.

PVT Bank : Nifty PVT Bank Index was up by +0.49%, IDFCFIRSTB (+2.87%),BANDHANBANK (+2.64%), and AXISBANK (+1.32%) were supporting the index.

PSU Bank : Nifty PSU Bank index was up by +0.28% with WOCKPHARMA (+2.39%), CIPLA (+1.58%) and ABBOTINDIA (+1.24%) among the top gainers.

MIDSMALL HEALTHCARE: Nifty MIDSMALL Healthcare index was up by -0.64. % with FORTIS (-4.46%), MEDANTA (-2.84%) and GRANULES (-2.29%) contributing negatively to the index.

OIL & GAS : HINDPETRO (-3.21%), IOC (-2.49%) and BPCL (- 2.26%) dragged the Nifty OIL & GAS index by -0.57%

HEALTHCARE: Nifty HEALTHCARE index was down by -0.33% with FORTIS (-4.46%), CIPLA (-1.12%) and BIOCON (1.01%) Among the contributors.

Stocks in the News

1. Adani Enterprises Limited (CMP: 2546.9, MCap: 2,93,958 Cr, Sector: Diversified, Valuation: 52.61x FY26 P/E)

Adani Enterprises has announced the incorporation of a new entity, Adani Ropeways Limited, marking a strategic expansion into the ropeways sector to diversify their infrastructure portfolio and leverage expertise in large-scale projects. News Source: ADANIENT

2. Hindalco Industries Limited (CMP: 792.5, MCap: 1,78,092 Cr, Sector: Metals & Mining, Valuation: 6.92x FY26 EV/EBITDA)

Hindalco provided an update on the acquisition of AluChem Companies, Inc. by its step-down wholly-owned subsidiary Aditya Holdings LLC, enhancing its global presence in the specialty chemicals and materials sector. News Source: HINDALCO

3. Cipla Limited (CMP: 1645.25, MCap: 1,32,897 Cr, Sector: Pharmaceuticals, Valuation: 16.75x FY26 EV/EBITDA)

Cipla launched a new product named 'Monsoon' (specific details undisclosed) and has secured rights to market Eli Lilly’s weight loss and diabetes drug Mounjaro in India under a different brand name, expanding its product line. News Source: CIPLA

4. Vodafone Idea Limited (CMP: 9.52, MCap: 1,03,142 Cr, Sector: Telecommunications, Valuation: 14.96x FY26 EV/EBITDA)

The company completed the first tranche of acquisition in Aditya Birla Renewables SPV 3 Limited, marking a strategic investment in the renewable energy sector to support sustainability and operational efficiencies. News Source: IDEA

5. NTPC Green Energy Limited (CMP: 100.78, MCap: 84,920 Cr, Sector: Renewable Energy, Valuation: 51.94x TTM EV/EBITDA)

NTPC Green Energy declared the commercial operation of a 9.9 MW wind capacity out of a total 92.4 MW wind project in Bhuj, Gujarat, through its subsidiary Ayana Renewable Power Four Private Limited, supporting renewable energy goals. News Source: NTPCGREEN

6. Bharat Forge Limited (CMP: 1300.55, MCap: 62,177 Cr, Sector: Auto Ancillaries, Valuation: 44.49x FY26 P/E)

Bharat Forge shares surged over 5% amid news of a potential Rs. 2,770 crore order from the Indian Army for CQB Carbines, though the contract finalization is still underway with the Ministry of Defence. News Source: BHARATFORG

7. Glenmark Pharmaceuticals Limited (CMP: 1849.85, MCap: 52,202 Cr, Sector: Pharmaceuticals, Valuation: 17.71x FY26 EV/EBITDA)

Glenmark Pharmaceuticals Inc., USA, announced the launch of Ropivacaine Hydrochloride Injection USP in various dosages, adding to its portfolio in the U.S. market for anesthetic solutions. News Source: GLENMARK

8. Premier Energies Limited (CMP: 1070.05, MCap: 48,472 Cr, Sector: Renewable Energy, Valuation: 46.31x TTM P/E)

The company acquired KSolare Energy Private Limited and a 51% stake in Transcon Ind Limited, representing significant expansion into the energy solutions market, particularly in solar sectors. News Source: PREMIERENE

9. Biocon Limited (CMP: 362.35, MCap: 48,444 Cr, Sector: Biotechnology, Valuation: 14.61x FY26 EV/EBITDA)

Biocon Biologics received Health Canada approval for Yesintek and Yesintek I.V. (ustekinumab), a biosimilar to Stelara, expanding its biologics portfolio in the Canadian market. News Source: BIOCON

10. PTC Industries Limited (CMP: 1258.85, MCap: 21,497 Cr, Sector: Industrials, Valuation: 12.01x TTM EV/EBITDA)

PTC Industries received a purchase order from GTRE for single crystal ready-to-fit turbine blades, strengthening its position in the aerospace and defense manufacturing sector. News Source: PTCIL

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