Share Market Highlights November 5, 2024: Sensex surges 694 pts, Nifty settles above 24,200; metal, bank stocks shine

Rane Holdings Limited, the Chennai-based auto components manufacturer, reported a 263 per cent jump in consolidated net profit to ₹185.4 crore for the second quarter ended September 30, 2024, compared to ₹51.1 crore in the same period last year. The surge was primarily driven by exceptional items related to settlements with NSK Ltd. Japan.

The shares of Rane Holdings Limited ended 3.71 per cent lower at ₹1,790 on the NSE today.

Apollo Green Energy, an EPC company focused on renewable energy solutions, is planning an initial public offer even as it is working to achieve a portfolio of ₹10,000 crore by 2025, it said in a release.

The company, part of the Raaja Kanwar-promoter Apollo International Group, currently has an order book of ₹3,500 crore in projects spread across solar and hydro energy. It plans to expand into wind, hybrid, green hydrogen, and battery storage solutions.

Drugmaker Cipla expects to put the “slow seasonal growth” of its ‘One India’ business in the last quarter behind it, even as it looks to resolve supply issues involving its generic Lanreotide in the US, company management said, on issues facing them in two key regions.

Top gainers:

JSW Steel (4.57%), Tata Steel (3.74%), Hindalco (3.51%), Bajaj Auto (3.35%), Axis Bank (2.71%) 

Top losers: 

Trent (-1.71%), Adani Ports (-1.50%), Asian Paints (-0.87%), ITC (-0.75%), Infosys (-0.60%)

Voltamp Transformers has received Letter of Intent from Gujarat Energy Transmission Corporation Limited, for ₹263.33 Crore (exclusive of GST) for supply of various ratings of Power Transformers.

Voltamp Transformers stock traded at ₹10,620 on the NSE, lower by 4.42%.

The Indian Hotels Company Limited has approved the execution of a shareholders’ agreement to acquire 55% equity shares for an amount not exceeding ₹ 18 crores in Rajscape Hotels Private Limited.

India Hotels stock trades flat on the NSE at ₹669.15

NMDC board to consider bonus issue at its meeting on November 11

Shares trade at ₹234.60 on the NSE, up 3.55%.

Top gainers:

JSW Steel (4.50%), Bajaj Auto (3.82%), Tata Steel (3.55%), Hindalco (3.38%), Axis Bank (2.87%) 

Top losers: 

Adani Ports (-1.71%), Trent (-1.27%), ITC (-1.05%), Bharti Airtel (-0.90%), Asian Paints (-0.88%)

Stocks advanced on BSE at 3 pm on November 5, 2024, were 2,425 against 1,486 stocks that declined, and 117 remained unchanged. Total stocks traded were 4,028. 

The number of stocks that recorded a 52-week high was 200, and those that hit a 52-week low was 22. A total of 370 stocks traded in the upper circuit, and 186 in the lower circuit.

Steel Strips Wheels announced the launch of its new product i.e. Aluminum Steering Knuckle and commencement of its commercial production at the company’s existing manufacturing facility located at Mehsana, Gujarat with effect from November 05, 2024.

Shares surge 4.55% on the NSE to ₹214.50

Raymond stock declined 2.63% on the NSE to ₹1,642.90 following 63% decline in consolidated net profit to ₹59.01 crore in the second quarter of this fiscal.

Nifty Metal index gained 2.49% to trade at 9,472.65. Nifty Financial Services rose 1.94% to 24,120.05, Nifty PSU Bank and Nifty Bank indices up 1.75% and 1.74%, respectively.

Alkyl Amines Chemicals board has approved setting up plant for adding new product in specialty Chemicals at existing facilities at Dahej, Gujarat.

Shares gain 3.17% on the BSE to ₹2,170

RVNL emerged as the Lowest Bidder (L1) for a contract from Eastern Railway for ₹837.67 crore.

Shares trade at ₹453.65 on the NSE, up 1.67%.

Mazagon Dock Shipbuilders reported a its standalone net profit for the quarter ended September 2024 at ₹563.75 crore as against ₹312.94 crore in the corresponding quarter last year.

Shares up 2.98% on the NSE to ₹4,147

Indian equity benchmarks extended their morning losses in afternoon trading on Tuesday, with the Sensex falling 366.18 points or 0.46 per cent to 78,416.06, and the Nifty declining 110.65 points or 0.46 per cent to 23,884.70 at 12.30 PM. 

Metal stocks continued to lead gainers, with JSW Steel rising 2.73 per cent and Tata Steel advancing 2.29 per cent. IndusInd Bank gained 1.82 per cent, while Hindalco and Bajaj Auto added 1.61 per cent and 1.58 per cent, respectively. 

Sagility India IPO has been subscribed 0.13 times as of 1 pm on November 5, 2024. NII portion has been subscribed 0.04 times, retail 0.66 times, and that reserved for employees 0.79 times. The issue closes on November 7, 2024

Sundaram Finance stock trades at ₹4,897.70 on the NSE, down by 1.50%. The company recorded a 7 per cent decline in standalone profit after tax (PAT) at ₹340 crore in the second quarter ending September 30, 2024, down from ₹366 crore in the same period last year.

Shares of Coal India Ltd (CIL) rose 0.87 percent to ₹431.87 on the BSE, as it turns ex-dividend today, November 5, 2024.

The company, India’s largest state-owned coal producer, declared an interim dividend of ₹15.75 per share on a face value of ₹10 per share, with November 5, 2024, set as the record date for eligibility. Read more

Paints major Berger Paints is likely to post a lower single-digit year-on-year increase in its consolidated revenue during the second quarter of this fiscal, while net profit is expected to witness a mid-single-digit growth. Japanese brokerage firm Nomura expects Berger’s revenue to grow 2.8 per cent y-o-y during Q2FY25. Adjusted profit after tax is estimated to rise 5.7 per cent y-o-y. However, the net profit may see a decline on a quarter-on-quarter basis. Read more

Pharmaceuticals: Indian generic drug exports to the US may face tariff revisions, potentially affecting the pharmaceutical sector.

IT Sector: A slowdown in US discretionary spending due to trade wars could negatively impact India’s IT exports.

Top gainers: JSW Steel (2.40%), Tata Steel (2.01%), Bajaj Auto (1.92%), IndusInd (1.41%), Hindalco (1.23%) 

Top losers: Adani Ports (-3.69%), HDFC Life (-2.81%), Shriram Finance (-2.79%), Trent (-2.55%), BEL (-2.16%)

We expect the US Fed to continue with its rate cutting cycle with a 25bps rate cut next week on November 7 though the rate cutting cycle is likely to be on a slow and gradual path going forward. Indian bonds remain attractive on the back of strong and stable underlying macro-economic variables with favourable demand supply dynamics at play. The scope for rate cuts in India is on account of high real positive rates and the need to encourage private investment and we expect the rate cutting cycle in India may start from February 2025.

Of a total of 3,910 stocks traded othe n BSE at 12 noon on November 5, 2024, 1,853 advanced against 1,914 stocks that declined, and 143 remained unchanged. While 180 stocks recorded a 52-week high, 22 hit a 52-week low. A total of 307 stocks traded in the upper circuit, and 161 in the lower circuit.

Larsen & Toubro Limited (L&T) announced today that it will acquire a 21 per cent stake in E2E Networks Limited, a Delhi-based cloud services company, for approximately ₹1,407 crore. The deal is expected to be completed by December 31, 2024.

Sagility India IPO has been subscribed 0.10 times as of 11.45 am on November 5, 2024. NII portion has been subscribed 0.02 times, retail 0.48 times, and those reserved for employees 0.53 times. The issue closes on November 7, 2024.

ABB India shares fall 4.84% on the NSE to ₹7,004.35, despite 21% rise in profit after tax at ₹440 crore for the third quarter ended September 30.

NBCC (India) Limited has been awarded contract from Bureau of Indian Standards for ₹500 crore.

Shares trade at ₹95.76 on the NSE, down by 2.10%.

Solar Industries India Limited has received an order worth ₹887 Crore from Singareni Collieries Company Limited for the supply of SME explosives, LDC explosives and initiating systems for blasting of Overburden, to be delivered over a period of two years.

Stock trades flat on the BSE at ₹9,806.20

Gland Pharma stock jumped 12.67% on the NSE to ₹1,815 as its total revenue grew by 2 per cent at ₹1,406 crore in the quarter under review compared to ₹1,373 crore in the same period last year.

However, the net profit declined 16 per cent to ₹163.5 crore in the second quarter that ended September 30, 2024, compared to ₹194 crore in the corresponding quarter of the previous financial year.

Eicher Motors stock rose 1.28% on the NSE ti ₹4,893.75. Its Royal Enfield has forayed into the electric bike space as it unveiled its first model, which is likely to hit roads in 2026.

Key Highlights -Impact on India

Pharmaceuticals: Indian generic drug exports to the US may face tariff revisions, potentially affecting the pharmaceutical sector.

IT Sector: A slowdown in US discretionary spending due to trade wars could negatively impact India’s IT exports.

FPIs: If US interest rate cuts are delayed, FPI inflows into India could diminish, as there is an inverse relationship between US interest rates and FPI flows into emerging markets.

India’s Monetary Policy: Any delay in US rate cuts could also delay India’s repo rate cuts, prolonging pressures on the Indian economy, which is already seeing a slowdown in earnings growth.

“A Trump victory should ideally flag off the next leg of US market dominance over the global markets. It would also contribute to an accompanying rise in bond market yields, particularly the 10-year Treasury. A stronger US bond yield would exacerbate the capital outflows from the Indian markets triggering another cruel spell of drawdowns. 

Additionally, we could see a pronounced comeback of the protectionist tendencies, which we first glimpsed in Trump’s last stint as the US President. Between 2017 and 2020, the denial rate of H-1B visas ramped up putting IT companies in a fix. With Trump coming to power, there could be employee and workflow disruptions leading to transitory, minor dents in the top lines of IT companies. However, the symbolic posturing behind the move will be sobering for a country like India, with a massive workforce looking to market their skill overseas.

If the democratic nominee Kamala Harris comes to power, it would be a non-factor, essentially an extension of the policies of the incumbent President Joe Biden.”

Bank Nifty opened today’s session with a gap-down at 51,053 versus yesterday’s close of 51,215. The banking index is now at 51,250, trading marginally in the green. Read more

Suzuki Motor Corporation unveiled its first mass-production battery electric vehicle (BEV), the e VITARA, in Milan, Italy on November 4, 2024. The company plans to commence production at Suzuki Motor Gujarat by spring 2025, with sales targeted across Europe, India, and Japan by summer 2025.

Centrum Capital is exploring divestment options, including of its subsidiary, Centrum Housing Finance Limited. “This is in line with the company’s strategy to augment its capital through divestments and capital raising. The company has not finalised any valuation, buyer or other such terms for potential divestment of Centrum Housing and at this time, there is no reportable event under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”),” it said in an exchange disclosure.

Shares declined 1.12% on the NSE to ₹32.61

Track the share price movement of the IRCTC stock live here

Bandhan Group (Bandhan Financial Services Ltd) today announced its acquisition of Genisys Group, a global information technology and business process services company. This marks Bandhan Group’s strategic entry into the technology sector. The acquisition allows Bandhan Group to expand its global footprint with new offices in the U.S., UK, and India, significantly enhancing its presence in these markets. By integrating Genisys Group’s offerings, Bandhan Group will add to its portfolio an integrated portfolio of solutions, including digital transformation, data analytics, cloud services, digital media operations, and smart business process solutions across various industries worldwide.

Nifty 50, the benchmark index, began today’s session with a gap-down at 23,917 versus yesterday’s close of 23,995. It is now trading at 23,940, down 0.2 per cent. The advance/decline ratio of the benchmark index currently stands at 26/24. IndusInd Bank, up 1.6 per cent, is the top performer. Adani Ports, down 2.4 per cent, is the top loser. Read more

Crude oil futures traded higher on Tuesday morning as the US prepared for the Presidential election later in the day. 

At 9.53 am on Tuesday, January Brent oil futures were at $75.25, up by 0.23 per cent, and December crude oil futures on WTI (West Texas Intermediate) were at $71.63, up by 0.22 per cent.

Indian equity markets opened on a cautious note Tuesday as investors remained wary ahead of the closely contested US presidential election between Donald Trump and Kamala Harris, while continued foreign fund outflows and disappointing quarterly earnings added to market uncertainty. 

At the market open on November 5, 2024, the Sensex slipped from its previous close of 78,782.24 to 78,664.64, down 117.60 points or 0.15 per cent by 9.40 AM. The Nifty opened lower at 23,916.50 from its previous close of 23,995.35 and reached 23,965.00, marking a decline of 30.35 points or 0.13 per cent. Read more

Venus Remedies Ltd has received Good Manufacturing Practices (GMP) approval with Pharmaceutical Inspection Co-operation Scheme (PICA) accreditation from the National Pharmaceutical Regulatory Agency (NPRA) of Malaysia for the robotic pre-filled syringe (PFS) facility at its Baddi unit.

Shares trade flat on the NSE at ₹310.05

Top gainers: JSW Steel (1.62%), Tata Steel(1.53%), Bajaj Auto (1.52%), Hindalco (1.32%), Hero Motocorp (1.14%)

Top losers: Adani Ports (-1.34%), ITC (-0.93%), BEL (-0.69%), Reliance (-0.68%), HDFC Life (-0.67%)

Crude oil futures traded higher on Tuesday morning as the US prepared for the Presidential election later in the day. At 9.19 am on Tuesday, January Brent oil futures were at $75.19, up by 0.15 per cent, and December crude oil futures on WTI (West Texas Intermediate) were at $71.57, up by 0.14 per cent. November crude oil futures were trading at ₹6029 on Multi Commodity Exchange (MCX) during the initial hour of trading on Tuesday against the previous close of ₹6024, up by 0.08 per cent, and December futures were trading at ₹6011 against the previous close of ₹6008, up by 0.05 per cent.

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Recent Interview...

As of 08:35 AM Monday 04 November 2024

Azad Engineeri: Vishnu Malpani, Whole-Time Director

Contract With Mistubishi Will Be Executed Over The Next 5 Years: Azad Engineering

https://www.youtube.com/watch?v=DqTK208ADaU

Bajaj Auto: Rakesh Sharma, ED

Oct Wholesale Nos Were Impacted By De-Stocking But Our Retail Nos Have Been Strong: Bajaj Auto

https://www.youtube.com/watch?v=hn8TreawW6U

Biocon: Peter Bains, Group CEO

Biosimilar Growth Is Offsetting Decline In Syngene & Generics: Biocon

https://www.youtube.com/watch?v=CudLP8zYjKc

JM Financial: Abhishek Kumar, undefined

Capgemini’s Guidance Cut Was Due To Slowdown In Europe, Flagged Off By Indian IT Cos: JM Financial

https://www.youtube.com/watch?v=erqhCEw9fw4

Narayana Hruda: Sandhya J, Chief Financial Officer

Avg Revenue Per Patient Improved To ?1.35 Lk From ?1.29 Lk: Narayana Health

https://www.youtube.com/watch?v=FyPD55fw2XE

Paras Defense: Amit Mahajan, Director of Technical & R&D

Margin Can Improve To 25-30% As We Have Transitioned To A Full Sub-Systems Player: Paras Defence

https://www.youtube.com/watch?v=Z4eFLxPXoQM

Sharda Crop: RV Bubna, CMD

We Will See At Least 10-15% Increase In Pricing: Sharda Cropchem

https://www.youtube.com/watch?v=WVT6piH6jBk

Titagarh Rail: Umesh Chowdhary, Vice Chairman & Managing Director

Creating Capacity To Manufacture 350-400 Metro & Vande Bharat Coaches Annually: Titagarh Rail

https://www.youtube.com/watch?v=H78sCgHRCYA

United Brewerie: Vivek Gupta, MD&CEO

Target Premium Business To Double From 8% Of Sales To 20% In The Next 2-3 Years: United Breweries

https://www.youtube.com/watch?v=Lupur7ZNS1M

Zen Tech: Ashok Atluri, CMD

Will Be Getting Orderbook Replishment In Q3FY25 And Q4FY25: Zen Tech

https://www.youtube.com/watch?v=U9GdbDwrvGg

Events today…

https://www.researchbytes.com/Default.aspx?cc=event

Results today…

https://www.researchbytes.com/Default.aspx?cc=result

Replays available at www.researchbytes.com

The U.S. markets closed lower on Monday as investors braced for a pivotal week with the U.S. presidential election set to take place later today and the Federal Reserve poised to release its policy statement soon. Most Asia-Pacific markets were also trading lower, reflecting caution ahead of the U.S. election results. Indian markets are expected to open on a muted note and could trend downward throughout the day, driven by sustained foreign outflows and weaker corporate earnings. Investors in India are approaching the market cautiously, influenced by mixed global signals and ongoing foreign selling pressures. On the stock-specific front, Maharatna PSUs NTPC and ONGC will create a joint venture company through their green energy units NTPC Green Energy and ONGC Green Energy, which will help them strengthen their presence within the renewable energy segment.

In the previous week’s trading sessions, the Nifty index predominantly experienced a consolidation phase characterized by a bearish market sentiment. Throughout yesterday’s trading, the index faced continuous selling pressure, reflecting a generally negative outlook among investors. In the first half of the trading day, the index showed a downward trajectory, followed by a slight recovery in the latter half. Nonetheless, it concluded in the lower quartile of the overall trading range, suggesting persistent weakness. The most immediate support level for the Nifty is identified near 23900. Should this level be breached, there is a potential for further exacerbation of the current market weakness.

CITI on Exide

Buy, TP cut to Rs 540 from Rs 610

2Q below estimates, reflecting slightly lower revenue and higher SG&A vs our expectations.

Mgmt highlighted strong demand in replacement auto & industrial UPS & solar segments

MS on Exide

OW . TP Rs 538

2Q weaker than MSe, while Amara Raja’s was largely in line

Expect Exide’s revenue growth to catch up in F2H25

Also believe Exide has benefits of scale and pace in new energy business, keeping us OW

Nomura on Exide

Buy, TP Rs 589

2Q revenue rose 4% y-y & 4% below est.

EBITDA margin of 11.3%, down 220bp q-q, came in below expectations of 12.4%

Co highlighted that 2Ws/4Ws replacement markets have experienced robust demand 

Nomura on ABB

Neutral, TP Rs 8260

3QCY24: Weak execution offsets strong EBITDA margin

Revenue at Rs 29.1bn, up 5% y-y (-11% vs est.)

EBITDA margin at 18.6%, up 271bp y-y vs est. 18.2%

Order inflows were at Rs 33.4bn, up 11% y-y (-8% vs est.

UBS on ABB - 1st cut

Neutral, TP Rs 9100 

Orders/revenue/EBITDA grew 11%/5%/23%

EBITDA margins of 18.6% strong led by discrete automation & electrification

Muted execution in process automation (12% YoY decline) drove revenue miss

Margins upside in price

GS on Bata India

Sell, TP Rs 1300

Sales growth continued to be tepid at 2.2% YoY (GSe: 3% YoY)

This was only a slight improvement in trend from -1.4% YoY in 1Q

Retail network expansion was 10% YoY, similar to 1Q

PAT declined 30% YoY & missed GSe by 13%

CITI on Bata India

Sell, TP Rs 1050

Rev growth muted at 2.2% YoY (2% below est), implying 3.0% CAGR over pre-covid period.

EBITDA declining 4% YoY (9% below est) & Adj PAT declining 20% YoY (21% below est) 

Val of 47x/40x P/E on FY26E/FY27E expensive

GS on Gland Pharma

Sell, TP Rs 1450

Q2 sales/EBITDA growing 2%/-8% yoy (below GSe), primarily on a/c of weaker than expected pick-up in US as well as RoW markets

EBITDA margin also below at 21.1% 

Management lowered its FY25 growth guidance to low double digits 

Jefferies on Gland Pharma

Hold, TP cut to Rs 1840

In-line 2Q albeit on subdued expectations

Revenue growth (ex-Cenexi) was muted at 5% YoY 

Cenexi loss increased sharply QoQ 

Mgmt. guidance remains optimistic at low-double-digit growth in base & Cenexi breakeven by yr-end

CITI on IGL

Buy, TP Rs 525

Encouraged by strong 9% yoy vol growth in 2Q, which marks a sharp rebound from 4% growth levels in recent qtrs that had been a drag on vals

With several building blocks in place, vols to grow at a 7-8% CAGR over 3 yrs

Open 90 day +ve catalyst watch

CITI On OMCs

Correction in stocks on weak 2Q earnings, which were driven largely by non-recurring factors, has made risk/reward significantly more favourable & provides an attractive re-entry point

Constructive & Open +ve catalyst watch on HPCL

Nomura on KEC Int

Buy, TP Rs 1030

2Q PAT missed on higher interest cost & marginal EBITDA miss

YTD order inflows at Rs135bn, up 50% y-y

Order backlog at Rs 341bn, translated into 1.6x TTM sales

STK trading at a P/E of 24x/ 18x its FY26F/ FY27F EPS

Nifty November futures down by 1.16% to 24,114 at a premium 119 points.

Nifty November futures open interest up by 5.13%.

Nifty Bank November futures down by 0.76% to 51,552 at a premium of 337 points.

Nifty Bank November futures open interest up 2.7%.

Nifty Options November 7 Expiry: Maximum call open interest at 27,000 and maximum put open interest at 22,450. 

Bank Nifty Options November 6 Expiry: Maximum call open Interest at 60,500 and maximum put open interest at 43,000.

Tuesday, 5 November, 2024 (Today)

Derivative Segment

• Berger Paints (I) Ltd

• Dr. Reddy’s Lab Ltd

• Manappuram Fin Ltd

• Titan Comp Ltd

• GAIL (Ind) Ltd

Cash Segment

• Alkyl Amines Ltd.

• Aptus Value Ltd.

• PB Fintech Ltd.

• Timken Ind Ltd.

• Oil Ind Ltd.

• SJVN Ltd.

• POWERGRID Infra Invest.

• K.P.R. Mill Ltd.

• Mankind Pharma Ltd.

• Mazagon Dock Ltd.

• Triveni Engineering Ltd.

• Chemplast Sanmar Ltd.

• eClerx Services Ltd.

• CCL Products (Ind) Ltd.

• Sundram Fasteners Ltd.

• Max Healthcare Ltd.

Wednesday, 6 November, 2024

Derivative Segment

• Gujarat Gas Ltd

• Apollo Hospitals Ltd

• Granules Ind Ltd

• Jindal Steel & Power Ltd

• Chambal Fertilizers Ltd

• Power Grid Corp Ltd

• Tata Steel Ltd

Cash Segment

• Blue Star Ltd.

• Endurance Tech Ltd.

• Kansai Nerolac Ltd.

• Rites Ltd.

• Trident Ltd.

• Gujarat Pipavav Ltd.

• JB Chem & Pharma Ltd.

• JK Lakshmi Cement Ltd.

• Usha Martin Ltd.

• FDC Ltd.

• Sonata Software Ltd.

Thursday, 7 November, 2024

Derivative Segment

• Cummins Ltd

• Escorts Ltd

• Page Indus Ltd

• Trent Ltd

• Lupin Ltd

• Abbott Ind Ltd

• Mahindra & Mahindra Ltd

• Steel Authority of Ind Ltd

• Aditya Birla Fashion Ltd

• Astral Ltd

• Indian Hotels Ltd

Cash Segment

• Indigo Paints Ltd.

• Akzo Nobel Ind Ltd.

• NHPC Ltd.

• RHI Magnesita Ltd.

• Alembic Pharma Ltd.

• Clean Science Ltd.

• Emami Ltd.

• Gujarat State Petro Ltd.

• Aavas Financiers Ltd.

• Great Eastern Shipping Ltd.

• GMM Pfaudler Ltd.

• Ircon Ltd.

• MMTC Ltd.

• Prince Pipes Ltd.

• Rail Vikas Nigam Ltd.

• Linde Ind Ltd.

• NCC Ltd.

• Shyam Metalics Ltd.

• Caplin Point Ltd.

• GR Infraprojects Ltd.

Friday, 8 November, 2024

Derivative Segment

• Tata Motors Ltd

• State Bank of Ind

• Info Edge (Ind) Ltd

• MRF Ltd

• Ashok Leyland Ltd

• Aarti Indus Ltd

• Metropolis Healthcare Ltd

Cash Segment

• Esab Ind Ltd.

• Latent View Analytics Ltd.

• Chola Fin Hold Ltd.

• Motherson Sumi Ltd.

• Equitas Small Fin Ltd.

• Action Construction Ltd.

• Life Insurance Corp

• Relaxo Footwears Ltd.

• ZF Commercial Vehicle Ltd.

• The Ind Cements Ltd.

• Jupiter Wagons Ltd.

• Fine Organic Indus Ltd.

• Fortis Healthcare Ltd.

• CE Info Systems Ltd.

• Star Cement Ltd.

• Welspun Corp Ltd.

Saturday, 9 November, 2024

Derivative Segment

• Asian Paints Ltd

• Divi’s Lab Ltd

• Aurobindo Pharma Ltd

Cash Segment

• HBL Power Ltd.

• Krishna Institute Ltd

Monday, 11 November, 2024

Derivative Segment

• Hindalco Indus Ltd

• Shree Cement Ltd

• Gujarat Narmada Ltd

• Britannia Indus Ltd

• Balrampur Chini Mills Ltd

• Jubilant Foodworks Ltd

• Oil & Natural Gas Corp Ltd

• Hindustan Copper Ltd

• The Ramco Cements Ltd

Cash Segment

• Vaibhav Global Ltd.

• Bank Of Ind

• Devyani Int Ltd.

• Elgi Equipments Ltd.

• Zydus Wellness Ltd.

• Blue Dart Express Ltd.

• BEML Ltd.

• Triveni Turbine Ltd.

Tuesday, 12 November, 2024

Derivative Segment

• Bosch Ltd

• Samvardhana Motherson Ltd

• Zydus LifeSci Ltd

Cash Segment

• BASF Ind Ltd.

• Suven Pharma Ltd.

• Medplus Health Ltd.

• GSFC Ltd.

• 3M Ind Ltd.

• Cera Sanitaryware Ltd.

• Finolex Cables Ltd.

• Kirloskar Oil Engines Ltd.

• CESC Ltd.

• Natco Pharma Ltd.

• PNC Infratech Ltd.

• Ingersoll-Rand Ltd.

Wednesday, 13 November, 2024

Derivative Segment

• Deepak Nitrite Ltd

• PI Indus Ltd

Cash Segment

• HEG Ltd.

• Kalyan Jewellers Ltd.

• Happiest Minds Ltd.

• KSB Ltd.

• Thermax Ltd.

• Astrazeneca Pharma Ltd.

• NBCC (Ind) Ltd.

Thursday, 14 November, 2024

Derivative Segment

• Grasim Indus Ltd

• Hindustan Aero Ltd

• IPCA Laboratories Ltd

• Hero MotoCorp Ltd

• Crompton Greaves Ltd

• Glenmark Pharma Ltd

Cash Segment

• Honasa Consu Ltd.

• E.I.D. - Parry (Ind) Ltd.

• Lemon Tree Ltd.

Ex/dividend: Care Rating, Coal India, Sasken Technology, Dr Lal Path Labs.

Ex/stock split: Premier Poly (Face value split from Rs 5 to Re 1.

Moved in short term ASM: Usha Martin Education and Solutions

Afcons Infrastructure: Goldman Sachs Funds, Jupiter India Funds bought 25 lakh shares, Nomura Funds Ireland Plc Nomura Funds Ireland India Equity Fund bought 18.44 lakh shares and Nomura India Investment Fund Mother Fund bought 31 lakh shares.

Block Deals

Trent: Dodona Holdings sold 12 lakh shares (0.33%) at Rs 6985 apiece, Siddhartha Yog bought 12 lakh shares (0.33%) at Rs 6985 apiece.

ICICI Bank -0.58%

HDFC Bank -1.09%

Infosys -0.19%

Wipro -1.08%

Dr Reddy’s Lab -0.38%

Credit growth is trending down and on an annual basis, deposit growth has outpaced credit offtake for the first time in the last 30 months. Additionally, when comparing growth rates with December 2023, deposit growth has continued to outpace credit offtake.

Credit offtake increased by 8.0% compared to December 2023, reaching Rs 172.4 lakh crores as of October 18, 2024. Mortgages and MSMEs account for the bulk of this increase. However, the growth slowdown compared to last year can be attributed to a higher base effect due to the merger and RBI measures such as higher risk weights and the proposed LCR norms. 

Deposits rose at 8.6% compared to December 2023, reaching Rs 218.1 lakh crore as of October 18, 2024. This growth can be attributed to rising term deposit rates of Scheduled Commercial Banks (SCBs).

The Short-term Weighted Average Call Rate (WACR) has decreased to 6.43% as of October 18, 2024, compared to 6.74% as of October 27, 2023, indicative of surplus liquidity.

Investors globally are bracing for heightened market volatility as the US heads into a closely contested presidential election between Donald Trump and Kamala Harris, with voting on November 5th. Meanwhile, Q2 earnings results from major companies like Berger Paints, Dr. Reddy’s, and Titan are set to be released the same day, adding to the market’s uncertainty. Intense FIIs selling in October, which saw over ₹1.14 lakh crore pulled from Indian equities, has further fueled concerns. Traders are advised to remain cautious, with sell positions recommended on both Nifty and Bank Nifty, while selective stocks like Lupin and Bank of Baroda are viewed positively for the short term.

Nomura on KEC: Maintains Buy on Company, target price at Rs 1030/Sh (Positive)

MS on Apollo Hospitals: Maintains Overweight on Company, target price at Rs 7110/Sh (Positive)

Citi on * HDFC Bank:* Maintains Buy on Company, target price at Rs 1990/Sh (Positive)

Citi on OMCs: OMC stocks at an attractive re-entry point (Positive)

Citi on Exide: Maintains Buy on Company, cut target price at Rs 540/Sh (Neutral)

Nuvama on Exide: Maintains Hold on Company, cut target price at Rs 460/Sh (Neutral)

Nomura on Exide: Maintains Buy on Company, cut target price at Rs 589/Sh (Neutral)

Nuvama on Amara Raja: Maintains Buy on Company, cut target price at Rs 1580/Sh (Neutral)

UBS on ABB: Maintains Neutral on Company, target price at Rs 9100/Sh (Neutral)

Nomura on ABB: Maintains Neutral on Company, target price at Rs 8260/Sh (Neutral)

Citi on IGL: Maintains Buy on Company, target price at Rs 525/Sh (Neutral)

Citi on Bata India: Maintains Sell on Company, target price at Rs 1050/Sh (Negative) 

Bernstein on India Strategy: Growth expectations have moderated from 9% to 0.6%. (Negative) 

GS on Gland Pharma: Maintains Sell on Company, target price at Rs 1450/Sh (Negative)

Domestic markets are likely to open with a downward bias on Tuesday amid mixed global cues ahead of the US poll outcome.

Nandish Shah, Senior Derivative & Technical Research Analyst, HDFC Securities, said: Investors geared up for a busy week as a double dose of potentially market-moving events is expected during the week that includes the US presidential election and the Federal Reserve’s monetary policy meeting.”

SEBI has ordered suspension of Aravind Maiya, the CEO of Embassy REIT’s manager firm Embassy Office Parks Management Services, and appointment of an interim CEO with immediate effect. SEBI’s direction follows a National Financial Reporting Authority (NFRA) order that barred Maiya for 10 years from undertaking any audit in respect of financial statements or internal audit of the functions and activities of any company or body corporate. It also imposed ₹50 lakh penalty on Maiya. The direction will take effect immediately and will be in force until further orders. Read more

In response to the SEBI directive on Monday ordering the suspension of Aravind Maiya as CEO of Embassy Office Parks REIT in connection with an earlier involvement as an auditor to Coffee Day Enterprises and found guilty of misconduct, Embassy REIT said in an exchange filing - 

“While we are reviewing the order and evaluating all options, in compliance with SEBI’s directive, effective immediately, Aravind Maiya will be stepping down as CEO of Embassy REIT. He will assume the role of Head of Strategy for Embassy REIT.

The REIT’s board, and the management team will oversee all its operations and capital allocation to ensure that normal business is not compromised in any manner whatsoever, while evaluating the most appropriate approach for the interim CEO position.”

The statement added that Embassy REIT was the foundation of the REIT asset class in India. “The REIT’s strong management team in place, will continue to be focused on delivering exceptional results, as evidenced by REIT’s recent H1 2025 performance. The business is in great shape and the REIT’s stock performance is a reflection of the strong fundamentals in the sector.

Our focus remains on upholding the highest standards in governance and ensuring the continued success of Embassy REIT.”

Ex-Dividend 06 Nov 2024 (Tomorrow) 

Last date for Cum-Dividend Today 

ADF Foods Ltd. 

Dividend Per Share Rs.0.6 

Previous day Closing Price – Rs. 294.95 

Ajanta Pharma Ltd. 

Dividend Per Share Rs.28 

Previous day Closing Price – Rs. 2996.25 

Alldigi Tech Ltd 

Dividend Per Share Rs.30 

Previous day Closing Price – Rs. 984.1 

Cyient Limited 

Dividend Per Share Rs.12 

Previous day Closing Price – Rs. 1840.45 

Hindustan Unilever Ltd. 

Special Dividend Per Share Rs.10 

Dividend Per Share Rs.19\u0009

Previous day Closing Price – Rs. 2525.9\u0009

\u0009

Laurus Labs Ltd\u0009

Dividend Per Share Rs.0.4\u0009

Previous day Closing Price – Rs. 487.5\u0009

\u0009

LT Foods Ltd.\u0009

Dividend Per Share Rs.0.5\u0009

Previous day Closing Price – Rs. 399.3\u0009

\u0009

Nippon Life India Asset Management Ltd\u0009

Dividend Per Share Rs.8\u0009

Previous day Closing Price – Rs. 704.65\u0009

\u0009

Railtel Corporation Of India Ltd\u0009

Dividend Per Share Rs.1\u0009

Previous day Closing Price – Rs. 407.5\u0009

\u0009

Siyaram Silk Mills Ltd.\u0009

Dividend Per Share Rs.4\u0009

Previous day Closing Price – Rs. 616.35

https://play.google.com/store/apps/details?id=com.intelegain.rb

Conference call Replay available in Various speeds !

Researchbytes Events Update

As of 07:34 AM Tuesday 05 November 2024

Can set alert for them at www.researchbytes.com 

10:00 AM KEC Intl

Dial: +91 22 6280 1213

Weblink: https://tinyurl.com/3jn928eb

10:00 AM Tube Investment

(Results, Press Release )

Dial: +91 22 6280 1259

Weblink: https://tinyurl.com/msramnht

10:00 AM ABB India

Dial: +91 22 6280 1376 

Weblink: https://tinyurl.com/553sxjs5

11:00 AM SAI SILKS

(Results)

Dial: +91 22 6280 1458 

Weblink: https://tinyurl.com/2fpwu2eb

11:00 AM Shankara Buildi

(Results, Press Release )

Dial: +91 22 6280 1116 

Weblink: https://tinyurl.com/mt5pvrzv

11:00 AM Aeroflex Indust

Dial: +91 22 6280 1309

Weblink: https://tinyurl.com/yv2wrhux

11:00 AM Trucap Finance

Dial: +91 22 6280 1341

Weblink: https://tinyurl.com/yzks8p75

( Hosted by Adfactors )

11:00 AM IRFC

Dial: +91 22 62801384

Weblink: https://tinyurl.com/5axnz3d6

11:30 AM Tilaknagar

Dial: +91 22 6280 1141

Weblink: https://tinyurl.com/3sye7z2c

11:30 AM Vascon Engineer

(Results, Investor/Analyst Presentation)

Dial: +91 22 6280 1256

Weblink: https://tinyurl.com/5dysfynv

12:00 PM 20 Microns

Dial: 044 4770 0313

2:00 PM Chaman Lal Seti

Weblink: https://tinyurl.com/mr3z9hdb

3:00 PM Narayana Hruda

Weblink: https://tinyurl.com/2utaf9a8

4:00 PM DCM Shriram

Dial: + 91 22 6280 1141

Weblink: https://tinyurl.com/543j7rkn

4:30 PM Titan Company

Weblink: https://tinyurl.com/dzs3ceaz

4:30 PM Sterlite Techno

(Results, Investor/Analyst Presentation, Press Release )

Weblink: https://tinyurl.com/yc886ene

4:30 PM Foods and Inns

Dial: +91 22 7115 8057

Weblink: https://tinyurl.com/28zvucjk

5:00 PM Manappuram Fin

Dial: +91 22 6280 1149

Weblink: https://tinyurl.com/mwmrk8sb

5:00 PM Mazagon Dock Ltd

Dial: +91 22 6280 1304 

Weblink: https://tinyurl.com/5bc2557p

5:30 PM Berger Paints

Weblink: https://tinyurl.com/mrydpcwd

6:00 PM MANKIND PHARMA

(Press Release )

Dial: +91 22 6280 1102 

Weblink: https://tinyurl.com/v3m4pfn2

7:30 PM Dr Reddys Labs

Dial: +91 22 6280 1219

Weblink: https://tinyurl.com/2vkf3jat

Blue Jet Health : (replay)

https://www.researchbytes.com/webcast.aspx?WID=313134

Vardhman Text : (replay)

https://www.researchbytes.com/webcast.aspx?WID=313131

Automotive Axle : (replay)

https://www.researchbytes.com/webcast.aspx?WID=313108

AGS Transact Techno : (replay)

https://www.researchbytes.com/webcast.aspx?WID=313091

Steel Str Wheel : (replay)

https://www.researchbytes.com/webcast.aspx?WID=313074

CARBORUNDUM UNIVERSAL : (replay)

https://www.researchbytes.com/webcast.aspx?WID=313087

ADF Foods : (replay)

https://www.researchbytes.com/webcast.aspx?WID=313006

Protean eGov Te : (replay)

https://www.researchbytes.com/webcast.aspx?WID=312987

Prudent Corpora : (replay)

https://www.researchbytes.com/webcast.aspx?WID=312990

L&T : (replay)

https://www.researchbytes.com/webcast.aspx?WID=313010

Results today …

https://www.researchbytes.com/Default.aspx?cc=result

Recent interviews …

https://www.researchbytes.com/Default.aspx?cc=interview

Replays available at www.researchbytes.com

Viswajit Srinivasan, a senior banker of Indian origin based out of UK who specialises in sustainable finance and energy transition on Cairn Oil & Gas, part of Vedanta Group, committing to effective reduction of methane emissions, further accelerating its efforts to decarbonise its operations

The OGMP framework provides a scientific framework to credibly demonstrate progress towards methane reduction targets that have been set and this is in line with the Paris agreement. The Global Methane pledge was adopted in COP26 and countries that were part of the pledge agreed to reduce methane emissions by 30% by 2030. A number of National Oil companies globally have joined the OGMP 2.0 framework and are also part of the Oil and Gas Climate initiative. Cairn’s entry into this very elite club of companies which have adopted the OGMP framework will mean regular (annual) reporting on emissions and potentially a commitment to reach Level 5 reporting (most rigorous reporting) within a 3-5 year timeframe. This should encourage industry peers in India to also consider adopting the framework and moving towards higher quality of reporting of methane emissions.

👉Net profit up 21.4% at ₹440.5 cr vs ₹363 cr (YoY)

👉Revenue up 5.2% at ₹2,912.2 cr vs ₹2,769.1 cr (YoY)

👉EBITDA up 23.2% at ₹540.2 cr vs ₹438.5 cr (YoY)

👉Margin at 18.6% vs 15.8% (YoY)

#GlandPharma reports #Q2Results 

👉Net profit down 15.7% at ₹163.5 cr vs ₹194 cr (YoY)

👉Revenue up 2.4% at ₹1,405.8 cr vs ₹1,373.4 cr (YoY)

👉EBITDA down 8.4% at ₹297 cr vs ₹324.1 cr (YoY)

👉Margin at 21.1% vs 23.6% (YoY)

AmaraRaja reports #Q2Results 

👉Net profit up 6.3% at ₹240.7 cr vs ₹226.4 cr (YoY)

👉Revenue up 11.6% at ₹3,135.8 cr vs ₹2,811.1 cr (YoY)

👉EBITDA up 7.5% at ₹440.7 cr vs ₹409.8 cr (YoY)

👉Margin at 14.1% vs 14.6% (YoY)

JINDALSTEL

* Revenue expected at Rs 11632 crore versus Rs 12250 crore

* EBITDA expected to be seen at Rs 2078 crore versus Rs 2285 crore

* EBITDA margin expected to be seen at 17.86% versus 18.66%

* Net profit expected to be seen at Rs 791 crore versus Rs 1387 crore

POWERGRID

* Revenue expected at Rs 11522 crore versus Rs 11267 crore

* EBITDA expected to be seen at Rs 10542 crore versus Rs 9870 crore

* EBITDA margin expected to be seen at 91.50% versus 87.60%

* Net profit expected to be seen at Rs 3968 crore versus Rs 3781 crore

RITES

* Revenue expected at Rs 551 crore versus Rs 582 crore

* EBITDA expected to be seen at Rs 120 crore versus Rs 137 crore

* EBITDA margin expected to be seen at 21.78% versus 23.67%

* Net profit expected to be seen at Rs 100 crore versus Rs 101 crore

TATASTEEL

* Revenue expected at Rs 53734 crore versus Rs 55681 crore

* EBITDA expected to be seen at Rs 4980 crore versus Rs 4267 crore

* EBITDA margin expected to be seen at 9.27% versus 7.66%

* Net profit expected to be seen at Rs 139 crore versus Rs 702 crore

USHAMART

* Revenue expected at Rs 880 crore versus Rs 784 crore

* EBITDA expected to be seen at Rs 161 crore versus Rs 144 crore

* EBITDA margin expected to be seen at 18.30% versus 18.37%

* Net profit expected to be seen at Rs 109 crore versus Rs 107 crore

ALKYLAMINE, APTUS, BALMLAWRIE, BERGEPAINT, CCL, CEIGALL, CHEMPLASTS, DATAMATICS, DRREDDY, ECLERX, EVERESTIND, GAIL, JKTYRE, KPRMILL, MANAPPURAM, MANKIND, MAXHEALTH,MAZDOCK, MUTHOOTMF, OIL, POLICYBZR, RAYMONDLSL, SJVN, SUNDRMFAST, TIMKEN, TITAN, TRIVENI, WAAREERTL, WONDERLA, XPROINDIA

BERGEPAINT

* Revenue expected at Rs 2832 crore versus Rs 2767 crore

* EBITDA expected to be seen at Rs 457 crore versus Rs 473 crore

* EBITDA margin expected to be seen at 16.14% versus 17.12%

* Net profit expected to be seen at Rs 283 crore versus Rs 291 crore

DRREDDY 

* Revenue expected at Rs 7658 crore versus Rs 6902 crore

* EBITDA expected to be seen at Rs 2145 crore versus Rs 2013 crore

* EBITDA margin expected to be seen at 28.00% versus 29.17%

* Net profit expected to be seen at Rs 1418 crore versus Rs 1482 crore

GAIL 

* Revenue expected at Rs 33848 crore versus Rs 33673 crore

* EBITDA expected to be seen at Rs 4256 crore versus Rs 4528 crore

* EBITDA margin expected to be seen at 12.57% versus 13.45%

* Net profit expected to be seen at Rs 2600 crore versus Rs 2424 crore

MNAPPURAM

* NII expected at Rs 1502 crore versus 2043 Rs crore

* EBIT expected to be seen at Rs 994 crore versus Rs 849 crore

* EBIT margin expected to be seen at 66.85% versus 62.70% 

* Net profit expected to be seen at Rs 519 crore versus Rs 558 crore

MANKIND 

* Revenue expected at Rs 3071 crore versus Rs 2708 crore

* EBITDA expected to be seen at Rs 794 crore versus Rs 686 crore

* EBITDA margin expected to be seen at 25.85% versus 25.34%

* Net profit expected to be seen at Rs 614 crore versus Rs 501 crore

MAXHEALTH 

* Revenue expected at Rs 2056 crore versus Rs 1363 crore

* EBITDA expected to be seen at Rs 550 crore versus Rs 387 crore

* EBITDA margin expected to be seen at 26.75% versus 28.39%

* Net profit expected to be seen at Rs 369 crore versus Rs 276 crore

POLICYBZR

* Revenue expected at Rs 1080 crore versus Rs 811 crore

* EBITDA expected to be seen at Rs 18 crore versus Rs -89 crore

* EBITDA margin expected to be seen at 1.67% versus -10.98%

* Net profit expected to be seen at Rs 45 crore versus Rs -20 crore

TITAN

* Revenue expected at Rs 13259 crore versus Rs 12529 crore

* EBITDA expected to be seen at Rs 1493 crore versus Rs 1411 crore

* EBITDA margin expected to be seen at 11.26% versus 11.26%

* Net profit expected to be seen at Rs 935 crore versus Rs 916 crore

Q2FY25 EARNING CALENDAR 06.11.2024

AADHARHFC, APOLLOHOSP, AVALON, BLUESTARCO, CHAMBLFERT, DELTACORP, DHANUKA, ENDURANCE, FDC, GANDHAR, GEPIL, GPPL, *GRANULES, GUJGASLTD, GULFOILLUB, HITECH, IPL, JBCHEPHARM, JINDALSTEL, JKLAKSHMI, JYOTISTRUC, KANSAINER, KIRLFER, KPEL, KPGEL, KPIGREEN, MMWL, NEULANDLAB, POWERGRID, PRICOLLTD, RAIN, RITES, RPSGVENT, SBCL, SONATSOFTW, TARC, TATASTEEL, TEAMLEASE, THANGAMAYL, TRIDENT, USHAMART

APOLLOHOSP

* Revenue expected at Rs 5513 crore versus Rs 4846 crore

* EBITDA expected to be seen at Rs 772 crore versus Rs 627 crore

* EBITDA margin expected to be seen at 14.00% versus 12.95%

* Net profit expected to be seen at Rs 363 crore versus Rs 232 crore

CHAMBLFERT

* Revenue expected at Rs 4935 crore versus Rs 5385 crore

* EBITDA expected to be seen at Rs 705 crore versus Rs 615 crore

* EBITDA margin expected to be seen at 14.28% versus 11.42%

* Net profit expected to be seen at Rs 446 crore versus Rs 381 crore

GRANULES

* Revenue expected at Rs 1015 crore versus Rs 1189 crore

* EBITDA expected to be seen at Rs 209 crore versus Rs 213 crore

* EBITDA margin expected to be seen at 20.59% versus 17.90%

* Net profit expected to be seen at Rs 93 crore versus Rs 102 crore

GUJGASLTD

* Revenue expected at Rs 3806 crore versus Rs 3845 crore

* EBITDA expected to be seen at Rs 435 crore versus Rs 496 crore

* EBITDA margin expected to be seen at 11.50% versus 12.91%

* Net profit expected to be seen at Rs 251 crore versus Rs 296 crore

BUY

TP Rs1990

HDB Files for Rs125bn IPO; 3-4x

Post Issue Networth Translates to 2.8-4.3% of HDFCB Mkt Cap

HDB Financial (HDB), subsidiary of HDFC Bank (94.4% stake), files for IPO (fresh issue – Rs25bn, OFS – Rs100bn) to comply with the NBFC-UL mandatory listing requirement by Sep’25

HDB may consider pre-IPO placement up to 20% of fresh issue.

HDB is one of the leading, diversified retail-focused Upper Layer NBFCs with gross loans of Rs986bn (>20% CAGR over FY22-H1FY25), generating RoA of 3% and RoE of 19%

Operating across Enterprise Lending (39.85% of gross loans), Asset Finance (37.36%), and Consumer Finance (22.79%) helps it generate 14.0-14.2% yields

AAA credit rating provides access to borrowings at 7.6-7.9%, thus garnering 7.5% NIM

Granular low-ticket lending with widespread network leads to opex/assets at 3.8-3.9%

Credit cost is in the 1.5-1.8% range

Assigning 3-4x PB to HDB post-issue equity translates to 2.8-4.3% of HDFB’s market cap.

04 November 2024 (Rs. In Crs.)

Turnover: (NSE + BSE)

Cash Volume: 98171.71 + 6144.39 Total: 104316.1

F&O Volume: 338712.89 + 13299904.85 Total: 13638617.74

Provisional Cash

FII/FPI: NET SELL: -4329.79 

(13786.39 - 18116.18) 

DII: NET BUY: +2936.08 

(12449.82 - 9513.74)

Ferrari N.V. (Pre market) (Sector- Automobile)

Apollo Global Management, Inc. (Pre market) (Sector- Financial)

Thomson Reuters Corp (Pre market) (Sector- Technology)

Emerson Electric Company (Pre market) (Sector- Capital Goods)

Marathon Petroleum Corporation (Pre market) (Sector- Energy)

Cummins Inc. (Pre market) (Sector- Automobile)

MPLX LP (Pre market) (Sector- Energy)

Gartner, Inc. (Pre market) (Sector- Technology)

Yum! Brands, Inc. (Pre market) (Sector- Hotels)

Targa Resources, Inc. (Pre market) (Sector- Enegry)

DuPont de Nemours, Inc. (Pre market) (Sector- Chemicals)

Restaurant Brands International Inc. (Pre market) (Sector- Hotels)

Archer-Daniels-Midland Company (Pre market) (Sector- FMCG)

Broadridge Financial Solutions, Inc. (Pre market) (Sector- Financial)

GlobalFoundries Inc. (Pre market) (Sector- Technology)

Fortis Inc. (Pre market) (Sector- Power)

Builders FirstSource, Inc. (Pre market) (Sector- Construction)

Westlake Corporation (Pre market) (Sector- Chemicals)

Expeditors International of Washington, Inc. (Pre market) (Sector- Logistics)

Telefonica Brasil S.A. (Pre market) (Sector- Technology)

Fresenius Medical Care AG (Pre market) (Sector- Healthcare)

TopBuild Corp. (Pre market) (Sector- Construction)

UL Solutions Inc. (Pre market) (Sector- Miscellaneous)

Coupang, Inc. (Post market) (Sector- Retail)

Microchip Technology Incorporated. (Post market) (Sector- Technology)

International Flavors & Fragrances, Inc. (Post market) (Sector- FMCG) 

Pembina Pipeline Corp. (Post market) (Sector- Energy)

Devon Energy Corporation (Post market) (Sector- Energy)

Prudential Public Limited Company (Post market) (Sector- Financial)

Jack Henry & Associates, Inc (Post market) (Sector- Technology)

Kinross Gold Corporation (Post market) (Sector- Metal)

Exact Sciences Corporation (Post market) (Sector- Healthcare)

American Financial Group, Inc. (Post market) (Sector- Financial)

Assurant, Inc. (Post market) (Sector- Financial)

Globus Medical, Inc. (Post market) (Sector- Healthcare)

Centrais Electricas Brasileiras S.A. (TENT) (Sector- Power)

U.S. Presidential Elections

19:30 U.S. ISM Service PMI (Expected: 53.8 versus Previous: 54.9)

Niva Bupa Health Insurance Company has fixed the price band of ₹70-74 a share for its forthcoming initial public offering that will open on November 7 and close on November 11.

Indian Railway Catering and Tourism Corporation (IRCTC) reported a 4.5 per cent increase in standalone net profit to ₹307.8 crore for the quarter ending September 30, 2024. Net profit in the year-ago-period stood at ₹294.7 crore. 

As the outstanding dues of Adani Power with Bangladesh swell up to almost $1 billion, the company could start curtailing electricity supply to India’s neighbour beginning next week. However, a complete shutdown of the supply looks unlikely.

The capital market regulator SEBI is expected to roll-out stringent product criteria for new players entering the mutual fund business through the MF Lite regulations.

To encourage more entrants into passive asset management, SEBI had issued a consultation paper to reduce the networth and profit track record criteria for companies interested only in managing assets passively.

I’m holding the following options: Reliance 1360-call bought for ₹33 and ICICI Bank 1290-call bought for ₹35. Kindly advise whether I should hold or exit – Nagaraj Read more

After forging a joint venture with MG Motors to enter the auto sector, Sajjan Jindal-led JSW Group is in talks with another Chinese company, Haier Group, for a foray into the electronics space.