Share Market Highlights October 24, 2024: Sensex, Nifty end flat with negative bias; Nifty FMCG dips nearly 3%

The rupee stayed stuck at its near-record low of 84.07 (provisional) against the US dollar on Thursday as surging crude oil prices and persistent foreign fund outflow weighed on the local unit.

Analysts said the selling rush by foreign investors in pursuit of better gains from the Chinese market has been preventing the rupee’s recovery, while higher US treasury yields have triggered the fear of slower interest rate cut by the Federal Reserve.

Top gainers:

Ultratech Cement (2.66%), Shriram Finance (1.82%), M&M (1.48%), Titan (1.45%), Grasim (1.40%) 

Top losers: 

Hindustan Unilever (-5.81%), SBI Life (-4.67%), Hindalco (-3.71%), Nestle India (-2.76%), Bajaj Auto (-2.69%)

Zomato clarifies regarding platform fee hike

“We have indeed increased the platform fee yesterday across certain cities. Such changes in our platform fee are a routine business matter and are done from time to time and may vary from city to city. “

Adani Total Gas recorded its consolidated net profit at ₹185.60 crore for the quarter ended Sept 2024 as against ₹172.68 crore in the corresponding quarter last year.

Shares rallied 8.83% on the NSE to ₹762.30

Max India board has approved raising of funds through the issuance of equity shares by way of rights issue for an amount not exceeding Rs. 100 crore.

Shares down 4.66% on the NSE to ₹257.70.

Top gainers:

Ultratech Cement (2.90%), Shriram Finance (1.47%), M&M (1.42%), Titan (1.29%), Grasim (1.28%)

Top losers: 

Hindustan Unilever (-5.62%), SBI Life (-4.68%), Hindalco (-3.41%), Nestle India (-3.27%), Bajaj Auto (-2.65%)

Stocks advanced on BSE at 3 pm on October 24, 2024, were 1,539 against 2,352 stocks that declined, and 120 remained unchanged. Total stocks traded were 4,011. The number of stocks that recorded a 52-week high was 123, and those that hit a 52-week low was 97. A total of 243 stocks traded in the upper circuit, and 307 in the lower circuit.

Infosys announced the launch of its small language models – Infosys Topaz BankingSLM and Infosys Topaz ITOpsSLM – built using the powerful NVIDIA AI Stack. 

Infosys stock trades flat on the NSE at ₹1,861.80

Sun Drops Energia Private Limited, a subsidiary of KPI Green Energy Limited, has received Letters of Award/Intent for development of solar power projects with a cumulative capacity of 9 MW under the ‘Captive Power Producer (CPP)’ business segment of the Company.

KPI Green Energy stock trades flat on the NSE at ₹784

Zerodha Fund House today announced the launch of its new scheme Zerodha Gold ETF FoF (Fund of Funds), an open-ended, fund of fund scheme investing in units of Gold ETF. The scheme opens for subscription on October 25, 2024, and will close on November 8, 2024.

On the launch of the fund, Vishal Jain, CEO, Zerodha Fund House said, “Gold is commonly seen as a commodity that retains its worth and buying power in times of inflation. This fund provides a convenient and effective method for investing in gold without worrying about storage or security. As Gold has a low correlation with equity, it helps to lower the overall volatility of your investment portfolio.”

The Zerodha Gold ETF FoF will invest 95%-100% in units of underlying Gold ETF while 0%-5% fund allocation will be in debt securities and money market instruments.

Vaibhav Jalan, CBO, Zerodha Fund House also commented on the launch, “Our Gold FoF is designed to make gold investing easier and more accessible for everyone. The option to invest via SIP allows investors to gradually build their exposure to gold over time, making it an ideal solution for both first-time and seasoned investors.”

The minimum amount for application is ₹500 and in multiples of ₹1 thereafter. The starting Net Asset Value (NAV) of this fund will be around ₹10.

F5 (NASDAQ: FFIV) announced today the launch of BIG-IP Next for Kubernetes, a new solution that integrates with NVIDIA BlueField-3 Data Processing Units (DPUs) to enhance AI application delivery and security for service providers and enterprises.

Ramkrishna Forgings Limited has declared interim dividend of ₹1.00 per equity share.

Standalone net profit for the quarter ended Sept 2024 stood at ₹182.79 crore as against ₹79.54 crore in the corresponding quarter last year.

Shares trade 2.42% higher on the NSE at ₹967.55

Hindware Home Innovation Limited has decided to issue equity shares on rights basis in the ratio of 11349962 : 72296395, i.e 11349962 Equity Shares for every 72296395 Equity Shares held. Issue Price is Rs. 220 per share

Shares surge 3.64% on the NSE to ₹329.95

Azad Engineering Limited received a business award from Honeywell Aerospace ISC, USA, for manufacturing and supply of high complex components to meet the global demand in the Aviation industry. This Phase 1 of the Award, valued at -$ 16 million spend over the contract period has added to its strategic collaboration with Honeywell Aerospace, USA.

Shares trade flat on the BSE at ₹1,470.90

Jindal India Limited has entrusted John Cockerill India Limited, with the Engineering, design, manufacture and supply of Plant & Equipment for Colour Coating Line to be installed at the client’s Ranihati plant and also the supervision of erection of the line. The total value of contract is around ₹105 crores. 

John Cockerill shares trade flat on the BSE at ₹5,325

Indian equity markets traded mixed in afternoon trading on Thursday, with the benchmark Sensex at 80,061.23, down 20.75 points or 0.03 per cent, while the Nifty50 declined 30.85 points or 0.13 per cent to 24,404.65 at 12.31 PM. 

Banking and financial stocks provided support to the market, with the Nifty Bank index gaining 0.70 per cent to 51,599.20 and the Financial Services index up 0.64 per cent at 23,904.50. 

HUL (-6.59%), Dabur (-4.01%), Colgate (-3.85%), Nestle (-3.80%)

Tata Power and Keppel join hands to launch Cooling-as-a-Service solutions in India

Tata Power shares trade flat on the NSE at ₹436.20

Baazar Style Retail Limited has announced opening of new retail stores of the Company.

Shares down 2.89% on the NSE to ₹333

Century Plyboards (India) Limited has announced incorporation of a Step-down Subsidiary Company

Shares slip 0.91% on the NSE to ₹871.05

HCLTech, the global technology company, has expanded its partnership with Transport for New South Wales (NSW) through a new five-year agreement announced on October 24, 2024. Under the deal, HCLTech will provide end-to-end managed services for the Australian state transport agency’s business-critical applications, platforms and cloud operations.

ICRA anticipates the slew of regulatory measures and tighter funding conditions in the domestic markets to lead to a steady slowdown in credit growth for banks and NBFCs

Stocks advanced on BSE at 12.17 pm on October 24, 2024, were 1,672 against 2,100 stocks that declined, and 127 remained unchanged. Total stocks traded were 3,899. The number of stocks that recorded a 52-week high was 114, and those that hit a 52-week low was 76. A total of 215 stocks traded in the upper circuit, and 269 in the lower circuit.

Piramal Pharma on Thursday reported over four-fold increase in consolidated net profit at Rs 23 crore for the second quarter ended September.

The Mumbai-based company had reported a net profit of ₹5 crore in the July-September quarter of last fiscal.

“Since our last piece, gold has inched upwards overtaking the USD 2700 mark and hitting almost USD 2760. Even in domestic markets gold is now ruling at above 77k per 10 grams as Diwali gets closer. There is a bull flag pattern that’s developed on this commodity contrary to expectations and therefore further momentum is staying unabated. Surprisingly gold has maintained its upward trajectory despite a cooling off in tensions in the middle east as well as the USD rise – which should typically be negative for gold. One suspects that the two key pivotal data points – which may not have come to the fore for now for gold - may be the Initial Jobless Claims report on Thursday – where a stronger economy would mean negative trigger for gold – and of course the US elections which are just around the corner and could be gold negative if Trump expands his lead going into the elections. USD 2,600.07 is a major support level established in September followed by USD 2,525, a critical pivot point. In the short term, with the formation of the pattern and barring any unexpected news, our projected short-term price of USD 2800- 2,815 has an upside of almost 2.75% from the current prices. The risk of course remains any sudden escalations in the middle east – as Israeli offensives may not be easy to predict – and of course, the technically overbought position in gold which runs into several weeks of a correctionless situation which may reverse without warning.”

-- Sandip Raichura, CEO - Retail Broking and Distribution, Director - PL Broking and Distribution.

Antony Waste Handling Cell informed that in addition to the recent contract win for Door-to-Door Collection and Transportation (C&T) of Municipal Solid Waste (MSW) from Navi Mumbai Municipal Corporation (NMMC), material subsidiary, AG Enviro Infra Projects Private Limited, has been awarded an additional portion of the contract of ₹ 67.7 crore for Collection & Transportation of Green Waste.

Antony Waste Handling Cell shares trade flat on the NSE at ₹749.10

ABB Robotics and New Age Makers’ Institute of Technology (NAMTECH) have signed a Memorandum of Understanding (MoU) to establish a School of Robotics.

ABB India stock trades flat on the NSE at ₹7,667.50

Steady rise seen in Singapore GRMs

From lows of $1.95/bbl 10 days back

Singapore GRMs have risen to $4.7/bbl

Impact

Generally every $1/bbl rise in GRM,

For MRPL, impact EBITDA by Rs 1000 cr

For Chennai Petro, increases EPS by 30%

For IOCL/BPCL/HPCL, increases earnings by 16%/16%/14%

For RIL, increases consolidated earnings by around 4%-5%

Also with fuel prices unchanged and crude at $75/bbl

Fuel margins continue to trend at multi-quarter high

Petrol: Rs 12.7/litre

Diesel: Rs 10.2/litre

Competitive concerns from quick commerce could sustain as Zepto, Zomato, and Swiggy raise funds, while Flipkart and Amazon consider market entry.

NETWEB has announced an expansion to its range of NVIDIA MGX platform based servers. 

Netweb Technologies stock declined 1.33% on the NSE to ₹2,593.

L&T Technology Services Limited has announced the opening of its state-of-the-art LTTS Experience Zone at its design hub in Bengaluru benefitting customers in segments like Mobility and Tech. 

LTTS shares trade flat on the NSE at ₹5,292.35

TCS launches NVIDIA Business Unit to Accelerate AI Adoption for Customers Across Industries.

TCS shares trade flat on the NSE at ₹4,052.35.

TCS Launches NVIDIA Business Unit to Accelerate AI Adoption for Customers Across Industries

TCS shares trade flat on the NSE at ₹4,052.35

Tata Communications unveils AI Infrastructure with NVIDIA Accelerated Computing

Shares up 1.16% on the NSE to ₹1,799.65

Computer Age Management Services Limited (CAMS), India’s largest registrar and transfer agent of mutual funds (a SEBI regulated entity) and the market leading platform for Alternatives, announced the inauguration of its second office facility at GIFT City SEZ (Gujarat International Finance Tec-City Special Economic Zone), Gandhinagar. 

As one of the first Registrar & Transfer Agents (RTAs) to establish operations in the city, CAMS offers comprehensive fund administration services to financial institutions launching funds globally and in GIFT City.

Waaree Energies Limited’s initial public offering (IPO) closed on October 23, 2024, with robust demand from qualified institutional buyers (QIBs), achieving an overall subscription of 76.34 times.

The QIB portion saw the highest interest with 208.63 times subscription, representing bids for 121.79 crore shares against 58.37 lakh shares on offer.

Bank Nifty index is holding well above it support. The index has bounced well today and is trading at 51,628, up 0.75 per cent. The support in the 51,100-51,000 region is holding well. The advances/declines ratio is at 10:2. If this sustains, then more rise is possible during the day.

Nifty 50 is hovering above an important support level of 24,350. Although it is managing to sustain above this support, the index is not getting a strong follow-through rise. Nifty is currently trading flat at 24,436. The advances/declines ratio is at 30:20. If this trend sustains, then there is a possibility of seeing a bounce from here. We will have to wait and watch.

Aurionpro announced significant multi-million-dollar win, following its recent success in the Asian market. This new project entails delivering iCashpro+, our comprehensive Transaction Banking Solution, for a leading bank across multiple countries in South Asia.

Shares trade at ₹1,643.65 on the NSE, higher by 2.30%.

Ashok Leyland subsidiary - OHM Global Mobility - bags order for 500 Electric Buses from MTC, Chennai

Ashok Leyland shares trade at ₹216.91, up 1.31%.

Buy, TP Rs 595

2Q reported loss of Rs1.6b led by one-off provn related to SR.

Reported PBT fell 35% YoY, but was 30% ahead of est, due to one MTM gains on investments.

AUM fell 4% QoQ (gold AUM fell 27% QoQ).

NIM on AUM rose 23bps QoQ

CITI on Navin Fluor

Buy, TP cut to Rs 3800 from Rs 4350

2Q EBITDA rose 9% yoy / 7% qoq, largely driven by higher ref gas revenues.

EBITDA margin was 20.7% vs 19.2% in 1Q, continuing its sequential improvement from trough of 15.1% in 3QFY24.

Jefferies on Navin Fluor

U-P, TP Rs 2950

Though Q2 weak, commissioning of new agro chem plant in 3QFY25 should revive growth in spec chem while commencement of 2 new contracts in CDMO in 4QFY25 shd jumpstart growth

Cut FY25/26 PAT 9%/8% 

Risk reward unfavorable @41x 1-yr fwd PE

Nomura on AU Small Fin

Neutral. TP Rs 680

Sharp pickup in credit cost led by unsecured retail

Credit cost to stay elevated in 2HFY25F

Sharp pickup in slippages; soft asset quality outlook for 2HFY25F

Strong deposit mobilization in 2Q; sharply lower opex vs est

CITI on AU Small Fin

Neutral, TP Rs 684

Elevated slippages (3.3%) & credit cost (net of recoveries) of 1.4% in 2Q coupled with spill-over of MFI/CC stress in 2H prompted mgmt. to raise credit cost guidance (to 1.3% of GLP)

Offset by NIM guidance being revised upwards to 6%

JPM on AU Small BK

Neutral, TP Rs 700

Operationally solid; Credit uncertainty remains

2Q PAT at Rs5.7bn (+14% q/q; ROE: 14.5%) was 15% ahead of JPMe driven by higher other income & lower opex, offsetting rise in credit costs

Credit costs guidance revised up

MS on AU Small BK

OW, TP Rs 780

F2Q25 saw better-than-expected performance on margins & costs, which helped more than offset higher credit costs

Bank maintained its RoA guidance of 1.6%

-ve was sequential moderation in coverage (ex write-offs) as well as LCR

OW, TP cut to Rs 1900

Cut its FY25 CC rev growth to lower end, even as it maintained its 18-22% guidance range

This was driven by delays in deal ramp ups, delays in deal closures and offshoring of deals to provide cost efficiencies to clients

Believe this will likely result in a softer 2H with bigger problem being a weak exit rate that impacts FY26 growth

Expect stock to react negatively

Upgrade to Buy from Sell, TP Raised to Rs 900

Regulatory risks now appear largely behind (i.e., FDI + NPCI + PPBL) & Co announced plans to offer Default Loss Guarantees (DLG), compliant with RBI guidelines, to its lending partners in merchant loans distribution biz.

In 2Q, while revenues were in-line (+1% vs Citi), huge reduction in opex led to a significant beat on Adj EBITDA, at -Rs1.8bn (Citi: -Rs2.6bn)

Raise est & multiple to 42x EV/Adj EBITDA

JPM on HUL

OW, TP cut to Rs 2870

Slowing urban casts shadow on NT demand outlook; Pricing & market shares strengthen

Q2 Rev/EBITDA was 1%/1.5% below JPMe on back of miss on volume growth (+3% vs JPMe +4%) even as EBITDA margin was in-line

Lower FY25-26E EPS by 3% 

MS on HUL

UW, TP Rs 2110

Headline volume growth was weak at 3%, below MSe, owing to an urban slowdown.

Personal care and F&R categories remain an overhang to growth.

Low single-digit price growth in 3Q likely at current levels of inflation in tea & palm oil.

Jefferies on HUL

Buy, TP Rs 3130

In-line 2Q with UVG at 3% YoY reflecting demand pressures

Rural continued to recover while urban started to moderate

Home care reported strong growth in revenue/Ebit; Beauty & Wellbeing modest but Personal Care & Foods saw declines

SBI informed the bidding for the Bank’s Basel III compliant Additional Tier 1 bond issuance was conducted today in the EBP platform of BSE. 

Issue type: Non-convertible, Taxable, Perpetual, Subordinated, Unsecured, Fully Paid-up Basel III compliant Additional Tier 1 Bonds in the nature of debentures of face value Rs.1 crore each

Issue size: 5,000 crore

Coupon 7.98% 

Total no. of bids received 108

SBI shares trade flat on the NSE at ₹793.

TVS Motor Company (TVSM) announced launch of a new variant the TVS Raider iGO.

TVS Motor Company shares trade flat on the NSE at ₹2,547.20

Issue Open - 07-Nov-24

Issue Close - 22-Nov-24 

Right issue Size: Rs. 249.70 Crs (1.13 Crs Shares)

Stock Price – 337.60/-

Right issue Price: Rs. 220.00/-

Payment Terms: Rs. 220.00/- (Rs 220.00to be paid on application)

Rights Entitlement Ratio: 119 Rights Equity Share for every 758 shares held (Effectively 0.16 for every 1 share held).

Last Trade date (Cum Right): 24 Oct 2024 (Today)

Ex-Right Trading date: 25 Oct 2024

Record Date: 25 Oct 2024

Right Entitlement (RE) Trading Period:- Not Yet Announced

Last day of Renunciation of Rights Entitlements: 18 Nov 2024

Date of Allotment (on or about): Not Yet Announced

Date of listing (on or about): Not Yet Announced

Effective Discount Per share – Rs. 14.15

{CMP-[(no. of Shares * CMP) + (No. of RE * Right issue Price) ]/ No. of Shares incl. RE}

* APPROVAL FOR RAISING OF FUNDS UPTO 28.8 BILLION RUPEES

* TO VOLUNTARY LIQUIDATE UNIT SAMIT SOLUTIONS INC

The rupee stayed flat at 84.07 against the US dollar in early trade on Thursday amid elevated crude oil prices and continuous withdrawal of foreign funds from capital market.

However, the local unit found some cushion as the dollar retreated from its higher level while the domestic equity markets indicated a recovery, forex traders said.

PM internship scheme (PMIS) to be theme of CSR along with food and nutrition, Finance Ministry has said. 

This will be in addition to the previous theme, ‘Health & Nutrition’, announced earlier.

“All administrative Ministries/Departments are requested to bring this to the notice of CPSEs under their administrative control for compliance,” an office memorandum issued by Public Enterprises Department. Including a subject under theme means companies can spend more on the said particular out of its CSR allocation. 

RailTel Corporation of India Ltd. has received the work order from Home Department, Government Of Gujarat for Project amounting to Rs. 1,44,88,48,888 (Including Tax).

Shares up 1.71% on the NSE to ₹403.55

HCL Tech shares trade flat on the NSE at ₹1,858.20. HCLTech and the New South Wales Government’s transport and roads agency, Transport for NSW, have extended their ongoing partnership to enable world-class transport services and experience for customers.

Top gainers on the NSE as at 9.30 am:

HDFC Bank (1.33%), Cipla (0.91%), Sun Pharma (0.86%), HCL Tech (0.76%), HDFC Life (0.68%)

Top losers:

Hindalco (-6.10%), Hindustan Unilever (-4.78%), SBI Life (-4.60%), Nestle India (-1.47%), Britannia (-1.15%)

OW, TP Raised to Rs 8000

a) higher revenue growth visibility vs. most peers

b) upside in Cigniti margins;

c) healthy EBITDA to OCF conversion of 65-70%

OW, TP Rs 3100

Q2 – Strong cash flow & margins

Godrej is confident it can grow pre-sales faster than 20% per annum despite a high base

Are seeing even faster growth in collections & cash flow

Stock preferred pick in developer space

Indian equity markets opened on a subdued note Thursday amid persistent foreign investor selling and mixed global cues, with the BSE Sensex starting at 80,098.30 and NSE Nifty at 24,412.70. 

Foreign institutional investors (FIIs) have pulled out a massive ₹93,088 crore from Indian equities in October so far, according to NSDL data. “The fundamental trigger for the FII outflows is the elevated valuations in India and the relatively cheap and attractive valuations in markets like China and Hong Kong,” said Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. 

Manav Modi, Senior Analyst, Commodity Research, MOFSL

Gold and Silver price inched lower in the yesterday’s session amidst profit booking after hitting an all time high mark on domestic front. Today, in the early morning trade both metals are trading steady as market uncertainty regarding US presidential election and persistent tensions in the Middle East continue to spur safe haven demand. Republican nominee Donald Trump was seen gaining an edge over Democrat Kamala Harris, however the race is too close to call, with about two weeks left to the ballot. Demand for havens was also boosted by persistent tensions in the Middle East, as Israel kept up its offensive against Hamas and Hezbollah. While U.S. diplomats were seen trying to push for a ceasefire, there still appeared to be no signs of de-escalation in the conflict. Recent signs of resilience in the U.S. economy spurred increased bets that the Fed will cut rates by 25 basis points in November, smaller than the 50 bps cut seen in September. Traders were also seen pricing in a higher terminal rate. Focus today will be on preliminary manufacturing and services PMI from major economies.

Expects 7–8% growth in Q3FY25, supported by better rural demand

Navratri sales grew by 10–11%, and Q3FY25 volume is up 4% so far

Last date for Cum-Dividend Today 

Allcargo Logistics Ltd 

Dividend Per Share Rs.1.1 Previous day Closing Price – Rs. 58.05 

Dalmia Bharat Ltd 

Dividend Per Share Rs.4 

Previous day Closing Price – Rs. 1761.3 

D B Corp Ltd 

Dividend Per Share Rs.5 

Previous day Closing Price – Rs. 316.6

LTI Mindtree Ltd 

Dividend Per Share Rs.20 

Previous day Closing Price – Rs. 5934.35 

L&T Technology Services Ltd 

Dividend Per Share Rs.17 

Previous day Closing Price – Rs. 5313.95

Route – Tender

Buyback Price: 1,025/- 

Current Market Price: 813.05/-

Market Cap: Rs 1,810 Crores 

Buyback Size: Rs 72 Crores ((Representing 24.85% and 24.98% of the total paid up equity share capital and free reserves) 

Buyback Size: 7,02,439 shares (Representing 3.15% of O/s. shares)\ 

Retail Quota: 1,05,366 Shares

Last Cum Trading Date: 24 Oct 2024 (Today)

Ex-Date: 25 Oct 2024

Buyback Record Date: 25 Oct 2024

Buyback Schedule: Not Yet Announced

Last day trade for before split Today

Mayukh Dealtrade Ltd

Stock Split From Rs.5/- to Rs.1/-

Previous day Closing Price – Rs. 8.61

POCL Enterprises Ltd

Stock Split From Rs.10/- to Rs.2/-

Previous day Closing Price – Rs. 820.55

Sukhjit Starch & Chemicals Ltd.

Stock Split From Rs.10/- to Rs.5/-

Previous day Closing Price – Rs. 554.9

Citi on PayTM: Upgrade to Buy on Company, raise target price at Rs 900/Sh versus Rs 440/Sh (Positive) 

HSBC on Bajaj Fin: Upgrade to Buy on Company, raise target price at Rs 7740/Sh (Positive) 

CLSA on Sona BLW: Upgrade to Buy on Company, raise target price at Rs 712/Sh (Positive) 

JP Morgan on Coforge: Maintain Overweight on Company, raise target price at Rs 9600/Sh (Positive) 

Nomura on Coforge: Maintain Buy on Company, raise target price at Rs 8480/Sh (Positive) 

HSBC on Kajaria: Maintain Buy on Company, target price at Rs 1500/Sh (Positive) 

MS on AU Bank: Maintain Overweight on Company, target price at Rs 780/Sh (Positive) 

Jefferies on Godrej Prop: Maintain Buy on Company, raise target price at Rs 3750/Sh (Positive) 

HSBC on Godrej Prop: Maintain Buy on Company, target price at Rs 3700/Sh (Positive) 

UBS on SBI Life: Maintain Buy on Company, target price at Rs 1940/Sh (Positive) 

Investec on TVS Motors: Maintain Buy on Company, raise target price at Rs 3050/Sh (Positive) 

Jefferies on SRF: Maintains Underperform on Company, target price at Rs 1970/Sh (Neutral) 

Macquarie on SBI Life: Maintain Outperform on Company, target price at Rs 1830/Sh (Neutral) 

UBS on SBI Life: Maintain Outperform on Company, target price at Rs 1940/Sh (Neutral) 

Macquarie on Birlasoft: Maintain Outperform on Company, target price at Rs 720/Sh (Neutral) 

GS on Lal Pathlabs: Maintain Sell on Company, raise target price at Rs 2675/Sh (Neutral) 

Investec on HUL: Maintain Hold on Company, target price at Rs 2837/Sh (Neutral) 

Jefferies on HUL: Maintain Buy on Company, target price at Rs 3130/Sh (Neutral) 

MS on HUL: Maintain Overweight on Company, target price at Rs 3130/Sh (Neutral) 

UBS on Nestle: Maintain Neutral on Company, target price at Rs 2110/Sh (Neutral) 

BofA on Navin Fluorine: Maintain Underperform on Company, cut target price at Rs 2950/Sh (Positive) 

BofA on Bajaj Auto: Maintain Buy on Company, cut target price at Rs 13000/Sh (Neutral) 

Jefferies on TVS Motrs: Maintain Buy on Company, cut target price at Rs 3270/Sh (Neutral) 

JP Morgan on Sona BLW: Maintain Overweight on Company, raise target price at Rs 640/Sh (Neutral) 

Jefferies on SRF: Maintain Underperform on Company, target price at Rs 2070/Sh (Neutral) 

HSBC on Biocon: Maintain Reduce on Company, target price at Rs 300/Sh (Neutral) 

Macquarie on DMart: Downgrade to Underperform on Company, cut target price at Rs 3700/Sh (Negative)

Citigroup in India is expecting to deliver a blockbuster year in 2024 in terms of equity capital markets, and mergers and acquisitions (M&As) with a robust pipeline in both, as it comes off the recent listing of Hyundai Motor India, the largest initial public offer in the country.

The pace activity is also likely to roll over into 2025 and the outlook for the next several years is positive, senior Citi officials said in a media briefing. Its pipeline of transaction at the moment was much stronger than what it had been last year, they said. Citi had topped the charts in advising primary public market issuances as well as in M&As, they added.

Trading in Gift City indicates a flat-to-positive opening for domestic markets on Thursday, but analysts remain pessimistic. Nifty futures in Gift City are ruling at 24,508 against a Nifty futures closing of 24,482. Suddenly, the sentiment turned weak from all corners, according to analysts—global markets due to a perceived slowdown in major economies, FPIs’ aggressive selling, muted India Inc. performance, and elevated interest rates.

Buzzing stocks: Mankind Pharma, HUL, TCS, Infosys, SBI, M&M, NLC India, Nazara Tech, Signature Global, Escorts, Sona BLW, Atul Auto, ITC, ACC, JSW Energy, Colgate, Bikaji Foods, RR Kabel, Inigo, IEX, Nippon AMC, Oracle, PNB Housing

RITES: Company and NMDC collaborate for rail connectivity works (Positive) 

KEC International: Company secures new orders worth Rs 11.42 billion (Positive) 

Hindustan Unilever: Company Board Decides To Separate Its Ice Cream Business (Positive) 

Sona BLW: Company board approves acquisition of ‘Railway equipment division’ business of Escorts Kubota for Rs 1,600 cr. (Positive) 

Rice Stocks: Government lifts curbs on rice exports, removes floor price for non-basmati grain (Positive) 

Dr LalPath Labs: Net Profit at Rs 130.8 cr vs Rs 110 cr, Revenue at Rs 660.2 vs Rs 601.3 cr. (YoY) (Positive) 

MAS Fin: Net Profit at Rs 78 cr vs Rs 62 cr, Revenue at Rs 385 vs Rs 311 cr. (YoY) (Positive) 

Thyrocare Technologies: Net Profit at Rs 26 cr vs Rs 20 cr, Revenue at Rs 177 vs Rs 148 cr. (YoY) (Positive) 

Tanfac: Net Profit at Rs 19 cr vs Rs 11 cr, Revenue at Rs 111 vs Rs 81 cr. (YoY) (Positive) 

Sona BLW: Net Profit at Rs 144 cr vs Rs 124 cr, Revenue at Rs 922 vs Rs 787 cr. (YoY) (Positive) 

Piramal Ent: Net Profit at Rs 163 cr vs Rs 48 cr, Revenue at Rs 775 vs Rs 746 cr. (YoY) (Positive) 

Fedbank Financial: Net Profit at Rs 64.5 cr vs Rs 57.8 cr, Revenue at Rs 513 vs Rs 390 cr. (YoY) (Positive) 

Manorama Industries: Net Profit at Rs 27 cr vs Rs 9 cr, Revenue at Rs 195 vs Rs 117 cr. (YoY) (Positive) 

PNGS: Net Profit at Rs 5.1 cr vs Rs 1.7 cr, Revenue at Rs 23 vs Rs 10.7 cr. (YoY) (Positive) 

Krystal Integrated: Net Profit at Rs 15.1 cr vs Rs 11.8 cr, Revenue at Rs 266 vs Rs 234 cr. (YoY) (Positive) 

TVS Holdings: Net Profit at Rs 599 cr vs Rs 457 cr, Revenue at Rs 11562 vs Rs 10619 cr. (YoY) (Positive) 

Aster DM: Net Profit At ₹96.8 Cr Vs Loss Of ₹30.8 Cr, Revenue At ₹1,086.4 Cr Vs ₹929.4 Cr (YoY) (Positive) 

Care Ratings: Net Profit at Rs 47 cr vs Rs 35 cr, Revenue at Rs 117 vs Rs 96 cr. (YoY) (Positive) 

Jagsonpal Pharma: Net Profit at Rs 11.4 cr vs Rs 7.4 cr, Revenue at Rs 75 vs Rs 57 cr. (YoY) (Positive) 

Piramal Pharma: Net profit at ₹22.6 cr vs ₹5 cr, Revenue up 17.3% at ₹2,241.8 cr vs ₹1,911.4 cr (YoY) (Positive) 

Pidilite: Net profit up 17.8 % at ₹540.3 cr vs ₹458.5 cr, Revenue up 5.2% at ₹3,234.9 cr vs ₹3,076 cr (YoY) (Positive) 

AU Small Finance Bank: Net Profit at Rs 571.2 cr vs poll of Rs 507.8 cr, NII at Rs 1974.3 vs poll of Rs 1967 cr (Neutral) 

Schaeffler India: Net Profit at Rs 236.4 cr vs Rs 232.7 cr, Revenue at Rs 2116.3 vs Rs 1853.6 cr. (YoY) (Neutral) 

Syngene International: Net Profit at Rs 106.1 cr vs Rs 116.5 cr, Revenue at Rs 891 vs Rs 910 cr. (YoY) (Neutral) 

Karnataka Bank: Net Profit at Rs 336 cr vs Rs 311.2 cr, NII at Rs 834 vs Rs 822 cr. (YoY) (Neutral) 

Hindustan Unilever: Net Profit at Rs 2612 cr vs poll of Rs 2675 cr, Revenue at Rs 15508 vs poll of Rs 15665 cr. (Neutral) 

Birla Soft: Net Profit at Rs 127.5 cr vs Rs 150.2 cr, Revenue at Rs 1368 vs Rs 1327 cr. (QoQ). (Neutral) 

United Spirits: Net Profit at Rs 341 cr vs Rs 339 cr, Revenue at Rs 2844 vs Rs 2869 cr. (YoY). (Neutral) 

Coforge: Net Profit at Rs 234 cr vs poll of Rs 246 cr, Revenue at Rs 3062 vs poll of Rs 2713 cr. (Neutral) 

SRF: Net Profit at Rs 201 cr vs poll Rs 290 cr, Board approves capacity addition at Dahej with ₹1,100 crore investment, says SRF (Neutral) 

Kajaria: Net Profit Down 22.8% At ₹85.5 Cr Vs ₹110.8 Cr, Revenue Up 5.1% At ₹1,179.3 Cr Vs ₹1,121.6 Cr (YoY) (Neutral) 

Jubilant Ingrevia: Net Profit Up 12.4% At ₹59 Cr Vs ₹52.5 Cr, Revenue Up 2.5% At ₹1,045.2 Cr Vs ₹1,019.9 Cr (YoY) ) (Neutral) 

Muthoot Finance: Company approves settlement of $ 400 million Senior secured notes under $ 2 billion GMTN Programme (Neutral) 

Devyani International: Company appoints Shivashish Pandey as CEO - Yum Brands (Neutral) 

Power Grid Corp: Company gets investment approval for project at a cost of Rs 2.84 billion (Neutral) 

State Bank of India: Company will be signing a euro 150 million line of credit with KFW (german

development bank) for financing climate friendly energy generation projects (Neutral) 

Prestige Estate: Company is acquiring 49% stake in arm Prestige Acres for a consideration of Rs 331 crore. (Neutral) 

Infosys: Company collaborates with University Of Cambridge to establish an AI lab in London. (Neutral) 

Adani Power: Company to consider fund raising up to ₹5,000 crore via Non-Convertible Debentures (NCDs) on October 28, 2024 (Neutral) 

Vedanta: Company’s new issuance received final orders of over $500 million, an oversubscription from existing and new investors. (Neutral) 

Skipper Company to hold board meeting on Oct 28 to consider fund raising (Neutral) 

Kalpataru Company to hold board meeting on Oct 28 to consider fund raising (Neutral) 

TVS Motors: Expects 7–8% growth in Q3FY25, supported by better rural demand. (Neutral) 

VIP Ind: Net loss at Rs 33.05 cr vs Net Profit Rs 13.28 cr, Revenue at Rs 546.91 vs Rs 548.66 cr. (YoY) (Negative) 

Birla Corp: Net loss at Rs 25.2 cr vs Net Profit Rs 58.4 cr, Revenue at Rs 1970 vs Rs 2312 cr. (YoY) (Negative) 

Andhra Cement: Net loss at Rs 34.8 cr vs Rs 1.00 cr, Revenue at Rs 54.9 vs Rs 65.2 cr. (YoY) (Negative) 

Bajaj Holding: Net Profit at Rs 1051 cr vs Rs 1571 cr, Revenue at Rs 1130 vs Rs 1666 cr. (YoY) (Negative) 

Nuvoco: Net loss at ₹85.2 cr vs profit of 1.5 cr, Revenue down 11.8% at ₹2,268.6 cr vs ₹2,573 cr (YoY) (Negative)

* AARTIIND 

* BANDHANBNK 

* BSOFT 

* GNFC 

* IEX 

* INDIAMART 

* MANAPPURAM 

* NMDC 

* PEL 

* RBLBANK

1. Choice International: GOOD TO EXCELLENT RESULTS & ACQUISITION

For the quarter ending Sep-24, Sales up 29% YoY from INR 191 Cr in Sep-23 to INR 247 Cr in Sep-24. Similarly, Net Profit up 53% from INR 30 Cr to INR 46 Cr. On a QoQ basis, Sales up 23% and Net Profit up 44%.

Company is acquiring the retail lending businesses of Paisabuddy Finance and Sureworth Financial Services, increasing its AUM by 75% to ₹801 crore. This acquisition boosts its branch network from 71 to 168 locations and employee strength from 536 to 1,180. The move enhances its MSME lending and expands its green finance initiatives across Rajasthan, Gujarat, Madhya Pradesh, Maharashtra, Uttar Pradesh, and Delhi NCR.

2. Dynamic Cables: GOOD TO EXCELLENT RESULTS

For the quarter ending Sep-24, Sales up 52% YoY from INR 154 Cr in Sep-23 to INR 234 Cr in Sep-24. Similarly, Net Profit up 2.8x from INR 5 Cr to INR 14 Cr. On a QoQ basis, Sales up 12% and Net Profit up 17%.

3. Olectra Greentech: GOOD TO EXCELLENT RESULTS

For the quarter ending Sep-24, Sales up 71% YoY from INR 307 Cr in Sep-23 to INR 524 Cr in Sep-24. Similarly, Net Profit up 2.5x from INR 19 Cr to INR 48 Cr. On a QoQ basis, Sales up 67% and Net Profit up 2x.

4. Platinum Industries: FUND RAISE

Board meeting to be held on 24th Oct ’24 to consider fund raise.

5. Rulka Electricals: ORDER

Company has secured new orders from various clients, worth INR 2.5 Cr. These orders include electrical work and fire detection & alarm system installations worth INR 16L at Kothur, ventilation system work worth INR 85L at Jindpur, High Tension RMU cable connection work worth INR 5.6L at Pune, and High Tension & Low Tension electrical system work worth INR 1.4 Cr at Mahape.

AEGISLOG, APOLLO, ARVSMART, ASAL, ATUL, BANKBARODA, BALKRISIND, BANDHANBNK, BEL, BPCL, CHOLAFIN, CMSINFO, COALINDIA, CREDITACC, DLF, ERIS, GOCOLORS, HINDPETRO, IDBI, INDIASHLTR, INDIGO, INOXGREEN, INOXWIND, INTELLECT, J&KBANK, JMFINANCIL, JSWHL, JSWSTEEL, JUBLPHARMA, KRSNAA, LODHA, MAHLIFE, MAXESTATES, MHRIL, MOIL, NIITLTD, NLCINDIA, PHOENIXLTD, POONAWALLA, PRAJIND, PSPPROJECT, SHAKTIPUMP, SHRIRAMFIN, SYRMA, TATVA, TEXRAIL, TORNTPHARM, TTKHLTCARE, UNIVCABLES, UTIAMC, ZEEMEDIA

ATUL

* Revenue expected at Rs 1394 crore versus Rs 1193 crore

* EBITDA expected to be seen at Rs 243 crore versus Rs 177 crore

* EBITDA margin expected to be seen at 17.43% versus 14.84% 

* Net profit expected to be seen at Rs 132 crore versus Rs 90 crore

BANKBARODA

* NII expected at Rs 11835 crore versus Rs 10830 crore

* EBIT expected to be seen at Rs 7713 crore versus Rs 8019 crore

* EBIT margin expected to be seen at 51.47% versus 53.46% 

* Net profit expected to be seen at Rs 4501 crore versus Rs 4252 crore

BEL

* Revenue expected at Rs 4543 crore versus Rs 4009 crore

* EBITDA expected to be seen at Rs 1092 crore versus Rs 1014 crore

* EBITDA margin expected to be seen at 24.03% versus 25.29% 

* Net profit expected to be seen at Rs 905 crore versus Rs 789 crore

BPCL

* Revenue expected at Rs 103242 crore versus Rs 128106 crore

* EBITDA expected to be seen at Rs 7739 crore versus Rs 5629 crore

* EBITDA margin expected to be seen at 7.49% versus 4.39% 

* Net profit expected to be seen at Rs 4609 crore versus Rs 2984 crore

CHOLAFIN

* NII expected at Rs 2776 crore versus Rs 2028 crore

* EBIT expected to be seen at Rs 1881 crore versus Rs 3089 crore

* EBIT margin expected to be seen at 58.67% versus 69.65% 

* Net profit expected to be seen at Rs 1002 crore versus Rs 762 crore

COALINDIA

* Revenue expected at Rs 30905 crore versus Rs 32776 crore

* EBITDA expected to be seen at Rs 9560 crore versus Rs 8137 crore

* EBITDA margin expected to be seen at 30.93% versus 24.83% 

* Net profit expected to be seen at Rs 5531 crore versus Rs 6799 crore

DLF

* Revenue expected at Rs 1353 crore versus Rs 1347 crore

* EBITDA expected to be seen at Rs 354 crore versus Rs 462 crore

* EBITDA margin expected to be seen at 26.16% versus 34.31% 

* Net profit expected to be seen at Rs 694 crore versus Rs 622 crore

HINDPETRO

* Revenue expected at Rs 90756 crore versus Rs 113888 crore

* EBITDA expected to be seen at Rs 5905 crore versus Rs 2476 crore

* EBITDA margin expected to be seen at 6.50% versus 2.17% 

* Net profit expected to be seen at Rs 2968 crore versus Rs 633 crore

INDIGO

* Revenue expected at Rs 17022 crore versus Rs 14943 crore

* EBITDA expected to be seen at Rs 2568 crore versus Rs 2817 crore

* EBITDA margin expected to be seen at 15.08% versus 18.85% 

* Net profit expected to be seen at Rs 151 crore versus Rs 188 crore

JSWSTEEL

* Revenue expected at Rs 42265 crore versus 44584 Rs crore

* EBITDA expected to be seen at Rs 4828 crore versus Rs 7886 crore

* EBITDA margin expected to be seen at 11.42 % versus 17.69 % 

* Net profit expected to be seen at Rs 446 crore versus Rs 2171 crore

LODHA

* Revenue expected at Rs 3050 crore versus 1749 Rs crore

* EBITDA expected to be seen at Rs 778 crore versus Rs 416 crore

* EBITDA margin expected to be seen at 25.52 % versus 23.78% 

* Net profit expected to be seen at Rs 475 crore versus Rs 201 crore

MOIL

* Revenue expected at Rs 359 crore versus 347 Rs crore

* EBITDA expected to be seen at Rs 107 crore versus Rs 96 crore

* EBITDA margin expected to be seen at 29.93 % versus 27.72% 

* Net profit expected to be seen at Rs 79 crore versus Rs 61 crore

PHOENIXLTD

* Revenue expected at Rs 921 crore versus 875 Rs crore

* EBITDA expected to be seen at Rs 548 crore versus Rs 513 crore

* EBITDA margin expected to be seen at 59.50 % versus 58.72% 

* Net profit expected to be seen at Rs 241 crore versus Rs 260 crore

TORNTPHARM

* Revenue expected at Rs 2965 crore versus 2660 Rs crore

* EBITDA expected to be seen at Rs 955 crore versus Rs 825 crore

* EBITDA margin expected to be seen at 32.20 % versus 31.02% 

* Net profit expected to be seen at Rs 495 crore versus Rs 386 crore

AARTIDRUGS, ACC, APCOTEXIND, ATFL, ATGL, AWL, BIKAJI, CASTROLIND, CHALET, CIEINDIA, COLPAL, COROMANDEL, CSBBANK, CYIENT, DCBBANK, DIXON, EFCIL, FINPIPE, GLS, GMRINFRA, GODIGIT, GODREJCP, GRAUWEIL, HOMEFIRST, IEX, INDOCO, INDUSINDBK, ITC, IXIGO, JSWENERGY, LAURUSLABS, LTFOODS, MANBA, MGL, MOSCHIP, NAM-INDIA, NTPC, OFSS, PATANJALI, PETRONET, PNBGILTS, PNBHOUSING, PRIVISCL, RADICO, RKFORGE, RRKABEL, SANGHIIND, SHILCTECH, STAR, TCI, TTML, UBL, UJJIVANSFB, V2RETAIL, VSTIND, WESTLIFE

ACC 

* Revenue expected at Rs 4249 crore versus Rs 4434 crore

* EBITDA expected to be seen at Rs 462 crore versus Rs 549 crore

* EBITDA margin expected to be seen at 10.87% versus 12.39% 

* Net profit expected to be seen at Rs 218 crore versus Rs 387 crore

AWL 

* Revenue expected at Rs 14320 crore versus Rs 12267 crore

* EBITDA expected to be seen at Rs 631 crore versus Rs 90 crore

* EBITDA margin expected to be seen at 4.40% versus 0.73% 

* Net profit expected to be seen at Rs 303 crore versus Rs -184 crore

CASTROLIND

* Revenue expected at Rs 1244 crore versus Rs 1182 crore

* EBITDA expected to be seen at Rs 291 crore versus Rs 268 crore

* EBITDA margin expected to be seen at 23.39% versus 22.70% 

* Net profit expected to be seen at Rs 210 crore versus Rs 194 crore

COLPAL

* Revenue expected at Rs 1634 crore versus Rs 1462 crore

* EBITDA expected to be seen at Rs 543 crore versus Rs 482 crore

* EBITDA margin expected to be seen at 33.23% versus 32.97% 

* Net profit expected to be seen at Rs 396 crore versus Rs 340 crore

COROMANDEL

* Revenue expected at Rs 6505 crore versus Rs 6988 crore

* EBITDA expected to be seen at Rs 914 crore versus Rs 1058 crore

* EBITDA margin expected to be seen at 14.05% versus 15.15% 

* Net profit expected to be seen at Rs 628 crore versus Rs 756 crore

GMRINFRA

* Revenue expected at Rs 2460 crore versus Rs 1588 crore

* EBITDA expected to be seen at Rs 862 crore versus Rs 472 crore

* EBITDA margin expected to be seen at 35.04 % versus 29.76%

DIXON

* Revenue expected at Rs 9245 crore versus Rs 4943 crore

* EBITDA expected to be seen at Rs 357 crore versus Rs 198 crore

* EBITDA margin expected to be seen at 3.86% versus 4.02% 

* Net profit expected to be seen at Rs 200 crore versus Rs 107 crore

GODREJCP

* Revenue expected at Rs 3600 crore versus Rs 2168 crore

* EBITDA expected to be seen at Rs 738 crore versus Rs 557 crore

* EBITDA margin expected to be seen at 20.5% versus 25.71% 

* Net profit expected to be seen at Rs 480 crore versus Rs 445 crore

IEX

* Revenue expected at Rs 131 crore versus Rs 108 crore

* EBITDA expected to be seen at Rs 108 crore versus Rs 91 crore

* EBITDA margin expected to be seen at 82.44% versus 84.73% 

* Net profit expected to be seen at Rs 103 crore versus Rs 86 crore

INDUSINDBK

* NII expected at Rs 5535 crore versus Rs 5076 crore

* EBIT expected to be seen at Rs 3984 crore versus Rs 3908 crore

* EBIT margin expected to be seen at 49.79% versus 53.12% 

* Net profit expected to be seen at Rs 2136 crore versus Rs 2202 crore

ITC

* Revenue expected at Rs 18051 crore versus Rs 17774 crore

* EBITDA expected to be seen at Rs 6315 crore versus Rs 6454 crore

* EBITDA margin expected to be seen at 34.98% versus 36.31% 

* Net profit expected to be seen at Rs 4942 crore versus Rs 4898 crore

JSWENERGY

* Revenue expected at Rs 3520 crore versus Rs 3259 crore

* EBITDA expected to be seen at Rs 1866 crore versus Rs 1886 crore

* EBITDA margin expected to be seen at 53.01% versus 57.87% 

* Net profit expected to be seen at Rs 824 crore versus Rs 850 crore

LAURUSLABS

* Revenue expected at Rs 1275 crore versus Rs 1224 crore

* EBITDA expected to be seen at Rs 215 crore versus Rs 187 crore

* EBITDA margin expected to be seen at 16.86% versus 15.34% 

* Net profit expected to be seen at Rs 37 crore versus Rs 36 crore

NTPC

* Revenue expected at Rs 47366 crore versus 44983 Rs crore

* EBITDA expected to be seen at Rs 12931 crore versus Rs 12680 crore

* EBITDA margin expected to be seen at 27.30% versus 28.19% 

* Net profit expected to be seen at Rs 4868 crore versus Rs 4614 crore

PETRONET

* Revenue expected at Rs 12563 crore versus Rs 12532 crore

* EBITDA expected to be seen at Rs 1329 crore versus Rs 1214 crore

* EBITDA margin expected to be seen at 10.57% versus 9.69% 

* Net profit expected to be seen at Rs 876 crore versus Rs 851 crore

PNBHOUSING 

* NII expected at Rs 668 crore versus Rs 645 crore

* EBIT expected to be seen at Rs 570 crore versus Rs 1609 crore

* EBIT margin expected to be seen at 75.70% versus 223.47% 

* Net profit expected to be seen at Rs 439 crore versus Rs 383 crore

RADICO

* Revenue expected at Rs 1135 crore versus Rs 925 crore

* EBITDA expected to be seen at Rs 156 crore versus Rs 121 crore

* EBITDA margin expected to be seen at 13.74% versus 13.10% 

* Net profit expected to be seen at Rs 79 crore versus Rs 64 crore

STAR

* Revenue expected at Rs 1159 crore versus Rs 999 crore

* EBITDA expected to be seen at Rs 238 crore versus Rs 153 crore

* EBITDA margin expected to be seen at 20.53% versus 15.32% 

* Net profit expected to be seen at Rs 94 crore versus Rs 33 crore

UBL

* Revenue expected at Rs 2232 crore versus Rs 1890 crore

* EBITDA expected to be seen at Rs 215 crore versus Rs 184 crore

* EBITDA margin expected to be seen at 9.63% versus 9.75% 

* Net profit expected to be seen at Rs 128 crore versus Rs 107 crore

WESTLIFE

* Revenue expected at Rs 624 crore versus Rs 614 crore

* EBITDA expected to be seen at Rs 75 crore versus Rs 98 crore

* EBITDA margin expected to be seen at 12.01% versus 15.98% 

* Net profit expected to be seen at Rs 4 crore versus Rs 22 crore

(Rs. In Crs.)

Turnover: (NSE + BSE)

Cash Volume: 116764.39 + 6975.43 Total: 123739.82

F&O Volume: 744701.11 + 607228.78 Total: 1351929.89

Provisional Cash

FII/FPI: NET SELL: -5684.63 

(14752.71 - 20437.34) 

DII: NET BUY: +6039.9 

(16433.67 - 10393.77)

Consumers in metro and mega cities seem to be under stress amidst uptick in food inflation which is adversely impacting the growth of the FMCG industry, Nestle India Chairman and Managing Director Suresh Narayanan said on Tuesday.

He also flagged concerns about the middle segment of consumers being under pressure even as top end consumers are fuelling demand for premium products. The company said that while 60 per cent of its portfolio has seen double-digit growth, milk and nutrition and some part of its chocolate and confectionery portfolios witnessed weaker demand trends.

S&P Global Inc. (Pre market) (Sector- Financial)

Union Pacific Corporation (Pre market) (Sector- Logistics)

Honeywell International Inc. (Pre market) (Sector- Miscellaneous)

KKR & Co. Inc. (Pre market) (Sector- Financial)

United Parcel Service, Inc. (Pre market) (Sector- Logistics)

Northrop Grumman Corporation (Pre market) (Sector- Defense)

Carrier Global Corporation (Pre market) (Sector- Capital Goods)

Equinor ASA (Pre market) (Sector- Energy)

Keurig Dr Pepper Inc. (Pre market) (Sector- FMCG)

Barclays PLC (Pre market) (Sector- Financial)

Valero Energy Corporation (Pre market) (Sector- Energy)

Nasdaq, Inc (Pre market) (Sector- Financial)

CBRE Group, Inc. (Pre market) (Sector- Real Estate)

Dow Inc. (Pre market) (Sector- Chemicals)

Tractor Supply Company (Pre market) (Sector- Retailer)

First Citizens BancShares, Inc. (Pre market) (Sector- Financial)

Dover Corporation (Pre market) (Sector- Capital Goods)

DTE Energy Company (Pre market) (Sector- Power)

Teck Resources Ltd (Pre market) (Sector- Metal)

West Pharmaceutical Services, Inc. (Pre market) (Sector- Healthcare) 

Rogers Communication, Inc. (Pre market) (Sector- Technology)

Southwest Airlines Company (Pre market) (Sector- Aviation)

Labcorp Holdings Inc (Pre market) (Sector- Healthcare)

Textron Inc. (Pre market) (Sector- Defense)

Reliance, Inc. (Pre market) (Sector- Financial)

Pool Corporation (Pre market) (Sector- Miscellaneous)

Allegion plc (Pre market) (Sector- Technology)

TechnipFMC plc (Pre market) (Sector- Energy)

LKQ Corporation (Pre market) (Sector- Automobiles)

Hasbro, Inc. (Pre market) (Sector- Miscellaneous)

Arthur J. Gallagher & Co. (Post market) (Sector- Financial) 

Capital One Financial Corporation (Post market) (Sector- Financial)

Digital Realty Trust, Inc. (Post market) (Sector- Real Estate)

L3Harris Technologies, Inc. (Post market) (Sector- Defense)

Edwards Lifesciences Corporation (Post market) (Sector- Healthcare)

Hartford Financial Services Group, Inc. (Post market) (Sector- Financial)

ResMed Inc. (Post market) (Sector- Healthcare)

DexCom, Inc. (Post market) (Sector- Healthcare)

Deckers Outdoor Corporation (Post market) (Sector- Textiles)

Weyerhaeuser Company (Post market) (Sector- Real Estate)

Western Digital Corporation (Post market) (Sector- Technology)

Cincinnati Financial Corporation (Post market) (Sector- Financial)

Carlisle Companies Incorporated (Post market) (Sector- Construction)

Principal Financial Group Inc (Post market) (Sector- Financial)

SS&C Technologies Holdings, Inc. (Post market) (Sector- Technology)

VeriSign, Inc. (Post market) (Sector- Technology)

Universal Health Services, Inc. (Post market) (Sector- Healthcare)

Healthpeak Properties, Inc. (Post market) (Sector- Real Estate)

Comfort Systems USA, Inc. (Post market) (Sector- Construction)

Gaming and Leisure Properties, Inc. (Post market) (Sector- Real Estate)

Texas Roadhouse, Inc. (Post market) (Sector- Technology)

AptarGroup, Inc. (Post market) (Sector- Packaging)

Kinsale Capital Group, Inc (Post market) (Sector- Financial)

Mohawk Industries, Inc. (Post market) (Sector- Consumer Durable)

Freeport-McMoran, Inc. (TENT) (Sector- Metals)

Suzano S.A. (TENT) (Sector- Paper)

10:30 INDIA HSBC Manufacturing PMI (Expected: 57.3 versus Previous: 56.5)

13:30 EURO Flash Manufacturing PMI (Expected: 45.1 versus Previous: 45.0)

14:00 U.K. Flash Manufacturing PMI (Expected: 51.5 versus Previous: 51.5)

18:00 U.S. Unemployment Claims (Expected: 243K versus Previous: 241K)

19:30 U.S. Flash Manufacturing PMI (Expected: 47.5 versus Previous: 47.3)

19:30 U.S. New Home Sales (Expected: 717K versus Previous: 716K)

- EPS $2.30 (est $2.22)

- Revenue $14.97B (est $15.05B)

- Free Cash Flow $2.06B (est $2.08B)

- Sees Q4 Constant Currency Revenue Growth Consistent with Q3

(Stock is down 3.8 percent post numbers and aftermarket hours

- EPS $0.72 (est $0.60)

- Revenue 25.18B (est $25.43B)

- Oper Income $2.72B (est 1.96B)

- Expects slight Growth In Vehicle Deliveries in 2024

(Stock is down 4 percent post numbers after market hours)

Persistent Systems (PSYS) has reported 5.3 per cent cc q-o-q revenue growth, ahead of our expectation of 4 per cent. Spread of growth improved too. Healthcare & Lifesciences as well as BFSI grew in high-single digit sequentially. It is difficult to find chinks in PSYS’ growth story.

360 One WAM had a strong quarter with the recurring AUM growing 41 per cent y-o-y (+10 per cent q-o-q) to ₹2.4 lakh crore, with its 360 One Plus business posting the highest growth. The net flows remained strong at ₹9,800 crore in Q2-FY25 (₹15,300 crore for H1-FY25) and we increase our FY25 numbers from ₹25,000 crore to ₹28,000 crore.

Tata Mutual Fund has launched Tata Nifty Capital Markets Index Fund. The NFO will be open till October 21. The index tracking fund will be benchmarked to Nifty Capital Markets Index. The index’s sector constituents as on September 24 include Exchange and Data Platform (34.8 per cent), AMCs (24 per cent), Depositories (21.5 per cent), and Stockbroking and allied (17.4 per cent). The top five stocks are BSE (18.4), HDFC AMC (16), MCE (10.6), CDSL (9.4), and CAMS (7.8).

Here’s an interesting stock idea: The stock idea that we have for you today is Varun Beverages The stock has been moving up over the last two days when the broader markets are falling. The near-term outlook is bullish. The share price can go up further in the coming days.

Zinc prices continue to oscillate in a wide range. The Zinc Futures contract on the Multi Commodity Exchange (MCX) has been range bound between ₹274 and ₹292 for more than three weeks now. Within range it is now poised near the upper end of this range. The contract is currently trading at ₹290 per kg.

The near-term outlook is bullish for Varun Beverages. The stock has surged over 5 per cent on Wednesday. It has been moving up over the last two days when the broader markets are falling. Supports are at ₹620 and ₹610. 

Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS, and SBI