Nestlé, HDB to IDBI: 6 stocks plunge as much as 10% despite blockbuster market rally
Indian markets rallied on October 15, with the Nifty crossing 23,000 and the Sensex gaining about 1,400 points, but six stocks fell. Nestlé India dropped as management warned of food inflation despite strong quarterly growth; HDB Financial slid after profit missed estimates. IDBI Bank and Canara Bank declined amid the stake-sale announcement and broader PSU-bank weakness.