Today’s top morning headlines - 17th October 2023

Good afternoon,

Markets are trading in the green, with the NIFTY50 above the 19,800 level as of 12 pm. Here are the top stories for the day!

Top gainer: HDFC Life: 644 ▲14 (+2.3%)
Top loser: Tata Motors: 662 ▼ 3 (-0.5%)

:star: CEAT gains on Q2 profit jump
Shares of the tyre manufacturing company are up by 11% intraday. This came after the company reported 25% year-on-year (YoY) growth in net profit to ₹199 crore in Q2 FY24.

:star: JK Paper surges on acquisition
Shares of the paper and packaging solutions firm are up by 1.5% intraday after the company announced that it has acquired 100% stake in Manipal Utility Packaging Solutions Private Limited (MUPSPL).

:star: KEC International rallies on new order
Shares of the engineering and construction firm are up by 5% intraday. The company announced that it has received various orders worth ₹1,315 crore for transmission & distribution projects in India, Middle East, Australia and Americas.

:star: Trident slips on income tax raid
Shares of the diversified textile fabric manufacturer fell by 3% intraday after the income tax department conducted a countrywide raid at the company’s offices. The department stated that these raids are part of an investigation into potential financial irregularities.