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During the recent market correction, the Nifty benchmark index has dropped around 8% from its 52-week high. However, 21 Nifty stocks have seen even sharper declines, with losses surpassing 16% from their 52-week highs, including key players such as RIL and HUL.

Vedanta LTD Q2 Results FY25: Revenue from operations fell 4% year-on-year to Rs 37,171 crore in the quarter ending September 2024, compared to Rs 38,546 crore in the same period last year. The company reported an EBITDA of Rs 9,828 crore for the July-September quarter, with margins at 26.1%.

​From 90% premium, it has now come down to somewhere around 55% to 60%. But at the same time, Indian earnings estimates are also coming down. If you look at the consensus EPS estimates for 2025, 2026, over the last one month maybe five to six weeks they are down about 5%, which is a major departure from the trend that we had seen earlier.

The pan-European STOXX 600 held firm at 509.9 points as of 0817 GMT, with healthcare leading subsector gains with a 1.1% rise, while basic resources lagged with a 2.4% fall.

Ashok Leyland reported a 37.2% YoY rise in Q2 net profit to Rs 770 crore, surpassing estimates. However, revenue fell 9% YoY to Rs 8,768.8 crore. The company declared an interim dividend and maintained strong market shares in MHCV and buses.

​The market structurally looks positive, yes. As I said, the bull market corrections are part and parcel. We expect 23,700 to 23,500 remains to be the very strong support for the Nifty.

The offering, comprising a fresh equity sale of Rs 800 crore and an offer for sale (OFS) of 1.89 crore shares, will remain open for bidding until November 11. Through the OFS, Bupa Singapore Holdings and Fettle Tone will reduce their stakes.

ACME Solar Holdings plans to use the net proceeds from its IPO to repay outstanding borrowings and fund general corporate purposes, with the OFS proceeds going to the promoter-selling shareholder. For FY24, the company reported a revenue of Rs 470.84 crore and a profit after tax of Rs 419.56 crore, reversing a loss from FY23.

The stock traded at a P/E multiple of 23.91, while the price-to-book value ratio stood at 0.00.

The stock quoted a 52-week high of Rs 11348.50 and a 52-week low of Rs 7044.00.