Share Market Highlights November 6, 2024: Sensex gains 901 pts, Nifty ends near 24,500; IT stocks lead rally

The rupee depreciated 21 paise to an all-time low of 84.30 (provisional) against the US dollar on Wednesday, as the US Dollar index rallied with Donald Trump set to win the US Presidential elections.

A strong greenback against major rivals overseas and unabated foreign fund outflows dented market sentiment, forex traders said.

Market participants also expect the US Fed to announce a rate cut in a meeting scheduled later this week, with further easing by up to 100 basis points projected for 2025.

“A victory for Donald Trump in the US Presidential election has led to a spike in USD, and that is having a negative impact on gold prices. Gold prices have hit a lower level of 2710 in the day’s trade. Prices are volatile as the street awaits the Fed outcome on Thursday, another key event guiding gold prices.

We expect gold to trade in a narrow range or sideways till the new President outlines his key policies. In the long term (Above 12 months) we expect gold to regain past high levels and make new highs. Geopolitical tensions will keep gold in demand, pushing prices up. In the long term, gold prices will touch $3000 global market, and Rs 86,000 in the domestic markets.”

Teamlease Services recorded its consolidated net profit for the quarter ended September 2024 at ₹24.85 crore as against ₹27.65 crore in the corresponding quarter last year.

Stock closed on the NSE at ₹2,854.95, higher by 6.18%

Top gainers:

BEL (5.33%), Adani Enterprises (4.48%), TCS (4.32%), Wipro (3.92%), HCL Tech (3.92%) 

Top losers: 

SBI Life (-1.60%), Titan (-1.45%), HDFC Life (-1.11%), IndusInd (-0.91%), Trent (-0.55%)

Bharti Airtel marked two significant expansions on November 6, with its subsidiary Nxtra becoming India’s first AI-powered data centre operator and the company extending mobile connectivity to strategic military outposts along the Indo-China border.

The shares of Bharti Airtel Limited were trading at ₹1,591.60 up by ₹13.20 or 0.84 per cent on the NSE today at 3 pm.

With Trump’s election victory, a significant impact on several key sectors can be seen, offering opportunities for Indian investors looking to diversify globally. Here is the view from Raj Patel, CMO, MintCFD

The defense sector, driven by Trump’s focus on military strength, is expected to see increased demand, with greater government spending on defense initiatives. This trend could extend to companies providing essential services in intelligence, cybersecurity, and homeland security, benefiting from Trump’s defense policies. 

In the energy sector, Trump’s push for U.S. energy independence could favor fossil fuel companies as he aims to reduce reliance on foreign energy sources. With deregulation in energy production and a focus on boosting domestic oil and gas output, the sector stands to benefit from a more favorable environment. 

Trump’s stance on immigration and law enforcement could also spur growth in the private prison industry. His tough immigration policies may lead to higher demand for private detention facilities, which could see increased business. Similarly, the firearms industry could experience growth, driven by heightened demand during periods of political uncertainty and strict law enforcement policies.

Cryptocurrencies may also see a boom under a second Trump term, given his pro-crypto approach. A more favorable regulatory environment for digital assets like Bitcoin and Ethereum could enhance their value.

Furthermore, banking deregulation under Trump could benefit large financial institutions, potentially leading to higher profits and more lending activity. Lastly, his focus on domestic manufacturing could boost the automotive industry, particularly in traditional carmakers and electric vehicle manufacturers.

Godawari Power and Ispat Limited (GPIL) announced today its entry into OPVC pipe manufacturing with a planned investment of ₹125 crore. The company’s board approved setting up a new unit to manufacture OPVC pipes, which are cost-effective alternatives to ductile iron pipes. Upon reaching full capacity, the company expects to add ₹200 crore annually to its revenue.

The shares of Godawari Power and Ispat Limited (GPIL) were trading at ₹203.15 up by ₹5.50 or 2.78 per cent on the NSE today at 2.05 pm.

JTL Industries has pioneered as the L1 bidder for the Jal Jeevan Mission project, securing an order for the supply of ISI-certified Galvanized Mild Steel (GMS) tubes for 95% of the sizes, amounting to 35,473 MT of the total order. 

Shares surge 4.86% on the BSE to ₹209.25

Donald Trump took to the stage on Wednesday to declare victory and pledged to bring a “golden age” to the United States. What will be the potential impact of a Trump win on the Global Market?

Here are the views from Ross Maxwell, Global Strategy Operations Lead, VT Markets 

With Donald Trump poised to win the US Presidential Election, attention will shift to the impact of his protectionist policies on both the US and global economies. Markets have responded positively, with indices rising and the USD strengthening, largely due to Trump’s previous term, which saw tax cuts and deregulation benefiting sectors like manufacturing, energy, and defense.

However, Trump’s protectionist stance—potentially imposing heavy tariffs on imports—could have wide-reaching effects, particularly on emerging markets that rely heavily on trade with the US. India, in particular, may face challenges from a stronger USD, leading to capital outflows and inflationary pressures. Additionally, Trump’s strict immigration policies could negatively affect India’s tech industry, which depends on the free movement of skilled labor.

That said, Trump’s first term fostered good relations with India, and his view of China as a security threat may lead to efforts to counterbalance China’s influence in Asia, which could benefit India. Opportunities in defense, tech, and the expansion of Indian exports in sectors like pharmaceuticals and IT services may arise.

In summary, while Trump’s policies present both risks and opportunities, they are likely to create a cautious outlook for the global economy.

Swiggy’s initial public offering opened to public today. The IPO has been subscribed 0.10 times so far. The IPO targets ₹11,327.43 crore through a combination of fresh issue worth ₹4,499 crore and offer for sale of 17.51 crore shares worth ₹6,828.43 crore.

Top gainers: 

BEL (5.40%), Adani Enterprises (4.65%), TCS (4.19%), Infosys (4%), HCL Tech (3.94%)

Top losers: 

SBI Life (-1.73%), Titan (-1.65%), IndusInd (-1.28%), HDFC Life (-1.23%), Axis Bank (-0.47%)

Stocks advanced on BSE at 3 pm on November 6, 2024, were 2,998 against 949 stocks that declined, and 94 remained unchanged. Total stocks traded were 4,041. The number of stocks that recorded a 52-week high was 230, and those that hit a 52-week low was 12. A total of 411 stocks traded in the upper circuit, and 150 in the lower circuit.

Top gainers of NIfty IT stocks:

Persistent Systems (5.31%), LTTS (4.69%), TCS (4.28%), LTIMindtree (4.25%), HCL Tech (4.03%)

RITES board has declared second interim dividend for the Financial Year 2024-25 at the rate of ₹1.75 per share.

Company recorded its consolidated net profit for the quarter ended September 2024 at ₹82.50 crore as against ₹110.17 crore in the corresponding quarter last year.

Shares trade flat on the NSE at ₹293.80

Nxtra by Airtel has deployed Artificial Intelligence (AI) in its data centres to drive operational excellence.

Bharti Airtel stock rose 1.81% on the NSE to ₹1,606.90

Shipping Corporation of India Land and Assets posts standalone net profit for the quarter ended September 2024 at ₹12.56 crore as against ₹9.60 crore in the same previous quarter Shares up 1.15% to 66.80 on the NSE.

1. Master Components: GOOD TO EXCELLENT RESULTS

For the half year ending Sep-24, Sales up 54% YoY from INR 11.49 Cr in Sep-23 to INR 17.73 Cr in Sep-24. Similarly, Net Profit up 67% from INR 1 Cr to INR 1.67 Cr. On a HoH basis, Sales up 28% and Net Profit up remained flat.

2. Waaree Renewables: EXCELLENT RESULTS

For the quarter ending Sep-24, Sales up 3.5x YoY from INR 150 Cr in Sep-23 to INR 524 Cr in Sep-24. Similarly, Net Profit up 3x from INR 18 Cr to INR 54 Cr. On a QoQ basis, Sales up 2.2x and Net Profit up 93%.

3. Owais Metal and Mineral: EXCELLENT RESULTS

For the half year ending Sep-24, Sales up 3.5x YoY from INR 30 Cr in Sep-23 to INR 105 Cr in Sep-24. Similarly, Net Profit up 3.6x from INR 7 Cr to INR 25 Cr. On a HoH basis, Sales up 2.1x and Net Profit up 2.8x.

4. Premier Explosives: ORDER

Company has received an order worth INR 89.2 Cr from Singareni Collieries Company Limited (A Government Company) for supply of SME explosives, LDC explosives (Cap & Non Cap) and accessories (Cast Booster, Detonating Fuse, Cord Relay, Nonel and Electronic Detonators - Factory set) for use in OB blasting at different Opencast Projects of SCCL to be delivered over a period of 2 years.

5. Blue Pebble: ORDER

Company has received a purchase order worth INR 4.7 Cr from Adani New Industries to execute interior finishing work for the Nacelle Office-2 at Mundra Solar Technopark, Gujarat, to be completed within 3 months.

6. Techera Engineering: BULK DEAL

Mona Laroia bought 99.2k shares at INR 182/share, aggregating to INR 1.8 Cr.

Indian benchmark indices continued their upward momentum in afternoon trading on Wednesday, with the BSE Sensex breaching the 80,000 mark. The 30-share index traded at 80,197.59, up 720.96 points or 0.91 per cent from its previous close, while the broader NSE Nifty gained 209.40 points or 0.86 per cent to reach 24,422.70 as of 12.34 PM. 

IT majors emerged as the key market drivers, with Infosys surging 3.59 per cent, followed by HCL Technologies at 3.57 per cent and TCS at 3.55 per cent. Defence manufacturer Bharat Electronics topped the gainers’ list, climbing 4.12 per cent, while Adani Enterprises advanced 3.69 per cent. Read more

Dr Reddy’s Laboratories stock gained 2.14% on the NSE to ₹1,299.45. The company recorded 17% revenue growth at ₹8,016 crore in September 2024 quarter. However, profit declined 9% in the quarter under review

Indel Money Limited, a non-deposit taking non-banking finance company (“NBFC”) in the gold loan sector, announced that its Fifth Public Issue of Secured, Redeemable Non-Convertible Debentures (“NCDs”) of face value of ₹1,000/- each, aggregating to ₹75 crore, has been oversubscribed. On the last day of the Issue, the company received bids worth ₹117.38 crore, registering a subscription of 156.51%.

The NCD Issue, with a yield on Redemption of up to 13.44% per annum, opened on October 21, 2024, and closed on November 4, 2024. The NCDs are likely to be listed on the BSE on or after November 11th, 2024. The Issue had an option to retain over-subscription of up to ₹75 crore, aggregating up to a total of ₹150 crore. The NCDs were rated as BBB+ Stable by Crisil Ratings. The Lead Manager to the Issue was Vivro Financial Services Private Limited.

Bajaj Finserv AMC has launched the Bajaj Finserv Consumption Fund, an open-ended equity scheme following the consumption theme. The fund opens for subscription on 8th November and the New Fund Offer period ends on 22nd November 2024. The Bajaj Finserv Consumption Fund is a true-to-label fund that will strategically invest in sectors aligned with emerging consumption megatrends.

Top gainers: BEL (3.89%), TCS (3.59 %), Infosys (3.47%), HCL Tech (3.47%), Tech Mahindra (3.31%) 

Top losers: Titan (-1.98%), IndusInd (-1.50%), SBI Life (-0.93%), HDFC Life (-0.89%), Cipla (-0.56%)

Of a total of 3,926 stocks traded on the BSE at 12 noon on November 6, 2024, 2,797 advanced against 1,003 stocks that declined, and 126 remained unchanged. were. While 202 stocks recorded a 52-week high, 11 hit a 52-week low. A total of 344 stocks traded in the upper circuit, and 153 in the lower circuit.

Ichnos Glenmark Innovation (IGI) announced today that its experimental cancer drug ISB 2001 showed a 75 per cent overall response rate in patients with relapsed/refractory multiple myeloma during its Phase 1 clinical trial. The company will present these first-time results at the upcoming American Society of Hematology (ASH) Annual Meeting in San Diego. Read more

Hero MotoCorp, the world’s largest motorcycle and scooter manufacturer, announced its plans to enter European and UK markets by the second half of 2025, showcasing four new vehicles at EICMA 2024 in Milan on November 5. The company will initially launch its electric scooter VIDA Z in these markets, followed by high-capacity premium motorcycles. Read more

.“The early results suggest that Donald Trump is leading the race (95-35), although any winning candidate would need at least 270 seats to call it a day. Going by the early results DT’s victory could likely result in more spending in the US, which could translate into inflation remaining somewhat elevated. At the same time, it would also mean stronger dollar but more trade barriers. However more than who wins, a clear result will be more of a relief to the markets which have been on a volatile mood predicting the outcome. This could translate positively for India as India’s trade relations with the US remains robust. Furthermore, clarity on the results will also be constructive to restrict volatility and return to fundamentals. On this note, India’s fundamental strength remains strong. The correction or adjustment led by outflows seen in the last one month should therefore reverse. On a medium to longer term, positive outcomes should emerge from the constructive relations India has with both USA and Donald Trump. Currency adjustments can well be managed with the reserves India has built. The only caveat could be that the US rate cutting cycle could be slower than anticipated which could also translate into a shallow rate cutting cycle for India. However, recall that India’s rate hikes were only half of what US hiked. So India has sufficient elbow room from the interest rate space as well with growth remaining resilient.”

SpiceJet is further expanding its domestic network with the launch of eight new flights starting November 15, 2024. These new routes will connect Jaipur with Varanasi, Amritsar and Ahmedabad, while also linking Ahmedabad with Pune. This expansion follows the recent launch of 32 new flights in October 2024, including two international flights connecting Delhi with Phuket.

Spicejet stock surged 3.10% on the BSE to ₹63.15

QIB - NIL 

NII - 0.02 times 

RIIs 0- 0.27 times 

Employee Reserved - 0.40 times 

Total: 0.06 times

Bank Nifty opened today’s session with a gap-up at 52,440 versus yesterday’s close of 52,207. The banking index is now at 52,240. Read more

The shares of Titan Company Ltd were trading at ₹3,137.90 down by ₹92.35 or 2.86 per cent on the NSE today at 11.10 am. Titan reported a 25 per cent decline in net profit for the second quarter of FY25, with profit falling to ₹705 crore from ₹940 crore in the same period last year.

Following the path taken by manufacturing, the services sector also signalled strong growth in October, private survey results released on Wednesday showed. The results, better known as Purchasing Managers’ Index (PMI), rose to 58.5 in October, as against 57.7 in September, which was a 10-month s low. At the same time job creation was the quickest in 26 months.

Earlier, with a pick-up in festival demand, Manufacturing PMI rose to 57.5 in October, as against an eight-month low of 56.5 in September. Services has an over 53 per cent share in Gross Value Added (GVA), while manufacturing contributes nearly 15 per cent. This means over two-thirds of the economy is doing well and this should reflect in the GDP (Gross Domestic Products) number in the October-December quarter (Q3) of Fiscal Year 2024-25, whose date will be made public February next year.

High-frequency indicators indicate that aggregate demand continued to grow albeit with a slower momentum than in the preceding quarters and painting a somewhat mixed picture, according to economic researchers at State Bank of India and Nomura. Read more

Nifty 50, the benchmark index, began today’s session with a gap-up at 24,309 versus yesterday’s close of 24,213. It is now trading at 24,350, up 0.5 per cent. Read more

RBI Governor: @Indian economy and financial sector well placed to deal with any external spillovers

@As a regulator, we are not bystanders

@There are 9,400 odd NBFCs. Action has been taken against 4. RBI’s action is very calibrated, selective. Our action is not punitive, it is corrective

All our actions are taken in consumers interest

Banks also to need to look into end use of unsecured loans. This is difficult, but they need to try and monitor that.

Sagility India IPO has been subscribed 0.31 times as at 10.45 am on November 6, 2024. NII portion has been subscribed 0.10 times, retail 1.48 times, and those reserved for employees 1.84 times. The issue closes on November 7, 2024.

Crude oil futures traded lower on Wednesday morning after industry data showed an increase in inventories in the US for the week ending October 25. Additionally, the market is awaiting the results of the US presidential election. 

At 9.53 am on Wednesday, January Brent oil futures were at $74.77, down by 1.01 per cent, and December crude oil futures on WTI (West Texas Intermediate) were at $71.35, down by 0.89 per cent.

Key news and events that are likely to move markets. Today we look at: The verdict of the US presidential election looms large over Wednesday’s session. Nifty futures are hinting at a slight dip, despite Asian markets mostly trading higher and US shares rallied overnight. However, concerns over slowing earnings and persistent withdrawals by foreign investors may cap any gains in India. Meanwhile, Swiggy’s IPO opens to the public, with some nerves over retail interest. 

Bitcoin surged to a record high in Asian trade as investors leaned towards Donald Trump winning the US presidential election.

The world’s biggest cryptocurrency rose 7% to $75,060, topping March’s peak, with the prospect of Trump’s return to the White House seen ushering in a softer line on cryptocurrency regulation. : Reuters

Indian equity benchmarks opened higher on Wednesday. As of 9.45 am, the Sensex and Nifty indexes are showing positive momentum. The Sensex opened at 79,771.82, up from its previous close of 79,476.63, and is currently trading at 79,907.88, marking a rise of 431.25 points or 0.54 per cent. Nifty opened at 24,308.75, up from its previous close of 24,213.30, and is trading at 24,351.20, reflecting a gain of 137.90 points or 0.57 per cent. 

Dr Reddy’s Lab led the gainers on NSE, rising 2.51 per cent, followed by Trent (2.08 per cent), BEL (2.01 per cent), HCL Tech (1.93 per cent), and Infosys (1.39 per cent). Among the top losers were Titan, dropping 3.08 per cent, Tata Steel declining 1.30 per cent, SBI Life falling 0.74 per cent, JSW Steel down 0.70 per cent, and Hindalco slipping 0.69 per cent. 

Track live updates on Swiggy IPO here

Polycab India Ltd emerged as the Lowest Bidder (L1) from Bharat Sanchar Nigam Limited (BSNL) for “Development (Creation, Upgradation and Operation & Maintenance) of Middle mile network of Bharat Net on Design Build Operate and Maintain (DBOM) Model” – Package 4 (Karnataka, Goa and Puducherry).

Polycab stock rose 2.11% on the NSE to ₹6,772.50

Top gainers: Dr Reddy’s Lab (2.51%), Trent (2.08%), BEL (2.01%), HCL Tech (1.93%), Infosys (1.39%)

Top losers: Titan (-3.08%), Tata Steel (-1.30%), SBI Life (-0.74%), JSW Steel (-0.70%), Hindalco (-0.69%)

Crude oil futures traded lower on Wednesday morning after industry data showed an increase in inventories in the US for the week ending October 25. Additionally, the market is awaiting the results of the US presidential election. At 9.15 am on Wednesday, January Brent oil futures were at $74.73, down by 1.06 per cent, and December crude oil futures on WTI (West Texas Intermediate) were at $71.28, down by 0.99 per cent. November crude oil futures were trading at ₹6013 on Multi Commodity Exchange (MCX) during the initial hour of trading on Wednesday against the previous close of ₹6054, down by 0.68 per cent, and December futures were trading at ₹5995 against the previous close of ₹6036, down by 0.68 per cent.

The much-awaited Swiggy’s initial public offering opens to public today. The IPO targets ₹11,327.43 crore through a combination of fresh issue worth ₹4,499 crore and offer for sale of 17.51 crore shares worth ₹6,828.43 crore. Read more

MS on Titan

EW, TP Rs 3532

F2Q top-line growth was strong but big -ve surprise on margins 

Buyer growth (12% YoY) strong owing to duty cut & per management, F2H demand is expected to be strong

F2025 consol jewellery EBIT margin guidance lowered to 11-11.5%

CLSA on Titan

O-P, TP raised to Rs 4,221 (on Roll fwd)

2Q standalone sales growth of 13% YoY, above est

Jewellery growth of 13% also beat forecast of 12%, with domestic sales growing 25% YoY (ex-bullion sales).

Watches & wearables grew 19% YoY

Eye care & emerging biz grew 7%& 14%

Jefferies on Titan

Hold, TP Cut to Rs 3400

Impact of custom duty cut while benefited jewellery growth, weighed -vely on reported margins, with adjusted also weak due to inferior product mix (lower studded).

Mgmt commentary on demand reasonably +ve

Cut EPS by 3-7%

GS on Titan

Buy, TP cut to Rs 3650

2Q EBIT declined 15.9% YoY.

Adjusted for one-off loss of Rs2.9bn caused by inventory losses in jewellery biz due to 9% drop in customs duty on gold, EBIT grew 6.9% YoY, below est.

Strong growth in jewellery in 2Q, festive season in 3Q also good

Jefferies on DR Reddys

U-P, TP Rs 1130

2Q a small miss to est on weaker product mix & higher R&D spend

US growth subdued QoQ but base biz growth in India recovered to 9%

Acquisition of Nicotineel OTC brands completed 

No near-term catalysts

GS on DR Reddys

Neutral, TP Rs 1325

Q25 revenue/adj. EBITDA grew 17%/6% yoy each, broadly inline 

Adj. EBITDA margins declined to 28.7% (above GSe) on a/c of moderation in GMs & higher SG&A spends Tweak FY25-27E EPS est by 3-8% to factor in Q2 nos

UBS on DR Reddys

Sell, TP Rs 1140

Upside case depends on size of GLP-1 opportunity

DRL eyeing day 1 launch of GLP-1 in all key Ems

Consensus still over-estimating core EBITDA by >US$150-200mn

Nomura on ABB (Post Call)

Neutral, TP cut to Rs 7570

Cautious in short term, but bullish over long term

EPS cut for CY24F/CY25F/CY26F by 4%/7%/7% on slower than estimated execution rate

Witnessing an uptick in large cycle contracts

HSBC on ABB

Hold, TP cut to Rs 8000 from Rs 9000

Q3 revenue & PAT grew by 5% and 22% respectively; PAT missed Bloomberg consensus expectation by 5%

Increased order backlog shift towards large orders, & slow growth in base orders, drive cut in revenue & earnings

MS on Manappuram Fin

EW, TP Rs 170

Trim F2026-27e EPS by 1-2% mainly on lower loan growth

F2025e EPS increase 7% owing to F2Q25 beat

Valuation remains cheap; however, given RBI ban on MFI subsidiary, think investor interest could take a while to return

CLSA on Manappuram Fin

O-P, TP Rs 200

2QFY25 NII, PPOP and PAT beat estimates by 5%-8%, driven by better spreads & opex

Gold loan business grew 3% QoQ, better than usual but lower than growth delivered in past 2 qtrs. 

MFI biz remains sombre, like peers

MS on GAIL

OW. TP Rs 258

Reported 19% integrated ROE for its gas pipes, with volume growth continuing to see benefits from new pipeline network expansion.

At 1.2x F26e P/B with rising domestic gas penetration, see multiple triggers for stock to re-rate

Jefferies on GAIL

Upgrade to Buy, TP Rs 240

Ebitda rose 7% y/y & marginally below JEFe 

New pipelines driving market share gains, see this continuing 

Trading profitability should continue on muted Henry Hub price, given elevated US gas inventories

Risk reward favourable

UBS on GAIL

Buy, TP Rs 240

H1 FY25 performance suggests co is on track to meet/ beat management guidance for FY25

Gas transmission vol averaged 131mmscmd in H1 

& gas trading earnings were at Rs33.6bn for H1 

Earnings growth prospects not fully priced in

Nomura on Berger Paints

Reduce, TP Rs 500

Weak quarter; embarking on new initiatives to improve share

2Q: Below estimates; volume / sales growth of 3.6% / 0.3% y-y vs forecast of 10% / 3%

OPM (15.6%) below forecast (17%); OPM guidance maintained at 15-17%

MS on Berger Paints

UW, TP Rs 466

2Q missed estimates on top line and margins.

EBITDA margin was at the lower end of management guidance.

Management expects top-line growth to improve in 2H

No major impact from competition, so far

Macquarie on Berger Paints

U-P, TP Rs 455

Weaker than expected volume growth in 2Q along with higher investments in urban sales teams drove a 7% Ebitda miss 

BRGR confident of 7-8% vol growth in 3Q & 10%+ growth in 4Q

Further, it reiterated FY25 Ebitda margin band of 15-17%

Motilal Oswal Financial Services: Motilal Oswal Foundation sold 3.75 lakh shares (0.06%) at Rs 933.3 apiece, while Tata Mutual Fund bought 3.75 lakh shares (0.06%) at Rs 933.3 apiece.

Trading Tweaks

Ex/dividend: Ajanta Pharma, HUL, Railtel, ADF Foods, Laurus Labs, Cyient, Nippon Life, Siyaram, LT Foods.

Ex/special dividend: HUL.

Price Band change from 20% to 10%: Waaree Energies.

Moved in short term ASM: Waaree Energies.

Moved out of short term ASM: Huhtamaki India.

Coffee Day Enterprises: Exchanges have suspended regular trading for companies under the Insolvency and Bankruptcy Code effective today. As a result, these stocks will now be traded only once a week, limited to the first trading day of each week, until further review. The exchanges also announced plans to initiate necessary steps to safeguard stakeholders’ interests during this period.

ICICI Bank +2.65%

HDFC Bank +2.77%

Infosys -0.05%

Wipro +1.40%

Dr Reddy’s Lab -1.28%

Hazoor Multi Projects Ltd.

Stock Split From Rs.10/- to Rs.1/-

Previous day Closing Price – Rs. 560

Ex-Split 07 Nov 2024 (Tomorrow)

Last date for Cum-Split Today

Ex-Dividend 07 Nov 2024 (Tomorrow) 

Last date for Cum-Dividend Today 

Glaxosmithkline Pharmaceuticals Ltd.\u0009

Dividend Per Share Rs.12\ 

Previous day Closing Price – Rs. 2595.9\ 

Navin Fluorine International Limited\ 

Dividend Per Share Rs.5\u0009

Previous day Closing Price – Rs. 3371\u0009

\u0009

Nuvama Wealth Management Ltd\u0009

Dividend Per Share Rs.63\u0009

Previous day Closing Price – Rs. 7050.6\u0009

\u0009

Share India Securities Ltd\u0009

Dividend Per Share Rs.0.5\u0009

Previous day Closing Price – Rs. 288.55\u0009

\u0009

Symphony Limited\u0009

Dividend Per Share Rs.2\u0009

Previous day Closing Price – Rs. 1597.25\u0009

\u0009

Shriram Finance Ltd\u0009

Dividend Per Share Rs.22\u0009

Previous day Closing Price – Rs. 3168.5

Issue Period:- 06- November-24 to 07- November -24

For Non- Retail ( QIB +HNI ) open & close date -06-November-24(Today) 

For Retail open & close date – 07- November -24

Floor Price: INR “505.00”

Closing Price on date of announcement: Rs. 559.45\u0009

Current Market Price: 559.45

Base Issue size: 5.28 Crs Shares – 1.25% of O/S Capital

Green Shoe Issue size: 5.28 Crs Shares – 1.25% of O/S Capital

Total Issue Size: 10.56 Crs equity shares (INR 5334.00 Cr) – 2.50% of O/s Capital

Non-Retail Portion (QIB + HNI) - 90% of Offer Size - Bidding on 06- November-24 (Today) 

Total Issue Size: 9.51 Crs shares (INR 4801.02 Cr)

Retail Portion - 10% of Offer Size - Bidding on 07- November -24

Total Issue Size: 1.06 Crs equity shares (INR 533.45 Cr)

Note : Upto Rs 2 lacs bids are classified as Retail and above non retail ( QIB + HNI )

Gift Nifty at 24,268 indicates a downward bias for Nifty at open on Wednesday. However, Gift Nifty has been volatile as the US election results start trickling in. Analysts expect the market to remain volatile. According to them, the recent trading pattern indicates that India is isolated from global markets with FPIs selling relentlessly. The weaker-than-expected performance from India Inc in Q2 also added to the negative sentiment.

Voltamp Transformers: Company has received Letter of Intent from Gujarat Energy Transmission Corporation Limited, for Rs 263.33 Crore for supply of various ratings of Power Transformers. (Positive) 

Infosys: Southwark council collaborates with co to provide digital learning platforms for residents, colleges, and schools (Positive) 

RVNL: Company’s JV emerges as lowest bidder for project worth Rs 6.13 billion (Positive) 

Route Mobile: L&T Metro Rail Hyderabad launches RCS-based ticketing and google wallet services in partnership with route mobile and Billeasy (Positive) 

Rites: Consortium emerges as L-1 in tender floated by Delhi metro rail corporation, gets order worth Rs 363.6 Million. (Positive) 

Vascon: Company anticipates strong execution momentum in the EPC segment, targeting an order book of INR 1,500 Cr for the year. (Positive) 

Premier Explosives: Company has secured order worth of Rs. 89.20 Crores order from Singareni Collieries Company (Positive) 

RRP Semiconductor: Company awarded order of 439.90 Cr from Telecrown Infratech Private Limited, Pune Maharashtra (Positive) 

Uttam Sugar: Company has boosted cane crushing capacity at its Khaikheri unit from 4700 TCD to 5500 TCD (Positive) 

RVNL/HFCL: Aerial Telecom Solutions JV emerges as the lowest bidder from BSNL for Bharat Net Project worth Rs 5008 cr (Positive) 

NTPC: Investment Approval for Telangana Super Thermal Power Project, Phase-II (3X800 MW) at an appraised current estimated cost of INR 29,344.85 Crore (Positive) 

Wonderla Holidays: Company reported its second-highest Q2 revenue since inception with 4.51 lakh footfalls. (Positive) 

Gensol Engineering: Solar EPC Order Book Crosses INR 5,400 Crore As On 31St October ‘24. (Positive) 

Steel Strips Wheels: Company announces the launch of its new aluminum steering knuckle, with commercial production (Positive) 

Hero MotoCorp: Company outlines expansion plans for Europe and UK, plans to enter multiple European markets by H2 (Positive) 

Mankind Pharma: Net profit at Rs 653.5 cr vs Rs 501 cr, Revenue at Rs 3076.5 cr vs Rs 2708.1 cr (YoY) (Positive) 

Jenburkt Pharma: Net profit at Rs 9.6 cr vs Rs 7.3 cr, Revenue at Rs 41.2 cr vs Rs 38.3 cr (YoY) (Positive) 

Fiberweb: Net profit at Rs 3.5 cr vs Rs 1.3 cr, Revenue at Rs 25.0 cr vs Rs 20.6 cr (YoY) (Positive) 

Waaree Renewable: Net profit at Rs 53.5 cr vs Rs 20.6 cr, Revenue at Rs 520 cr vs Rs 150 cr (YoY) (Positive) 

PB Fintech: Net profit at Rs 50.7 cr vs loss Rs 20.3 cr, Revenue at Rs 1167 cr vs Rs 812 cr (YoY) (Positive) 

Manappuram Fin: Net profit at Rs 570.65 cr vs Rs 558.38 cr, NII at Rs 1635 cr vs Rs 1365 cr (YoY) (Neutral) 

Datamatics Global: Net profit at Rs 42.4 cr vs Rs 49.3 cr, Revenue at Rs 410 cr vs Rs 380 cr (YoY) (Neutral) 

Berger Paints: Net profit at Rs 270 cr vs Rs 291 cr, Revenue at Rs 2774.6 cr vs Rs 2767.3 cr (YoY) (Neutral) 

Jenburkt Pharma: Net profit at Rs 9.6 cr vs Rs 7.3 cr, Revenue at Rs 41.2 cr vs Rs 38.3 cr (YoY) (Neutral) 

Gail: Net profit at Rs 2671.93 cr vs Rs 2723.98 cr, Revenue at Rs 32912 cr vs Rs 33674 cr (QoQ) (Neutral) 

Balmer Lawrie: Net profit at Rs 62.5 cr vs Rs 63.8 cr, Revenue at Rs 640 cr vs Rs 590 cr (YoY) (Neutral) 

Oil India: Net profit at Rs 1834.07 cr vs Rs 1466.84 cr, Revenue at Rs 5246 cr vs Rs 5332 cr (QoQ) (Neutral) 

Sundaram Fastener: Net profit at Rs 143 cr vs Rs 133 cr, Revenue at Rs 1486 cr vs Rs 1421 cr (YoY) (Neutral) 

Eclerx: Net profit at Rs 135 cr vs Rs 136 cr, Revenue at Rs 832 cr vs Rs 722 cr (YoY) (Neutral) 

JK Tyre: Net profit at Rs 135 cr vs Rs 242 cr, Revenue at Rs 3621 cr vs Rs 3898 cr (YoY) (Neutral) 

Indian Energy Exchange: Company achieves 9,642 MU electricity traded volume in Oct ‘24, up 4% YoY. (Neutral) 

Max Healthcare: Commences operations …

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

Conference call Replay available in Various speeds !

Researchbytes Events Update

As of 07:24 AM Wednesday 06 November 2024

Can set alert for them at www.researchbytes.com 

8:00 AM PB Fintech

Weblink: https://tinyurl.com/yc5bzxcc

10:00 AM Muthoot Microfin Limited

Dial: +91226280 1366

Weblink: https://tinyurl.com/4zcy589p

11:00 AM CCL Products

Dial: +91 22 6280 1304

Weblink: https://tinyurl.com/mheuj5m7

11:00 AM Chemplast

Dial: +91 22 6280 1309 

Weblink: https://tinyurl.com/exvd4aun

11:00 AM Oil India

Dial: +91 22 6280 1342

Weblink: https://tinyurl.com/yd3smfbd

11:00 AM GAIL

Dial: 9122 6280 1143

Weblink: https://tinyurl.com/4sbwrrcn

11:30 AM Triveni Engg

Dial: +91 22 6280 1141

Weblink: https://tinyurl.com/3ee7axpv

12:00 PM Saregama India

(Results, Investor/Analyst Presentation, Press Release )

Dial: +91 22 6280 1325

Weblink: https://tinyurl.com/mrxdbxsn

2:00 PM 3i Infotech

(Investor/Analyst Presentation)

Dial: +91 22 6280 1107

Weblink: https://tinyurl.com/4rtbw5sj

3:00 PM Intense Tech

Dial: +91 22 6280 1141

Weblink: https://tinyurl.com/yw65r4d2

3:00 PM Wonderla

Dial: +91 22 6280 1144

Weblink: https://tinyurl.com/mtkmkxsb

3:00 PM Alkyl Amines

Dial: +91 22 6280 1148 

3:30 PM JK Tyre and Indu

(Conference Transcript (Text))

Dial: +91 22 6280 1325

Weblink: https://tinyurl.com/323n4jan

4:00 PM Raymond

(Results, Investor/Analyst Presentation, Press Release )

Weblink: https://tinyurl.com/yc7sx95y

4:00 PM Aptus Value Housing

Dial: +91 22 6280 1116

Weblink: https://tinyurl.com/2p9pxn9s

4:00 PM Amara Raja Batt

Dial: +91 22 6280 1230

Weblink: https://tinyurl.com/ptsj2c3h

4:00 PM Asahi Songwon

Dial: +91 22 6280 1341

Weblink: https://tinyurl.com/4xrswsmw

( Hosted by Investment Lab )

4:00 PM Dhampur Bio Org

Dial: +91 22 6280 1480 

Weblink: https://tinyurl.com/53p2yfx8

5:00 PM eClerx Services

Weblink: https://tinyurl.com/mtkyppjz

5:00 PM TeamLease Ser.

Dial: +91 22 6280 1458

Weblink: https://tinyurl.com/29awfcdm

5:00 PM Timken

Dial: +91 22 6280 1230

Weblink: https://tinyurl.com/4bn372uk

5:00 PM Granules India

Dial: +91 22 6280 1550

Weblink: https://tinyurl.com/5nk653m6

6:30 PM Aadhar Housing Finance

Weblink: https://tinyurl.com/69udrd6h

JK Tyre and Indu : (replay)

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

Datamatics Glob : (replay)

https://www.researchbytes.com/webcast.aspx?WID=313208

Mazagon Dock Ltd : (replay)

https://www.researchbytes.com/webcast.aspx?WID=313207

Foods and Inns : (replay)

https://www.researchbytes.com/webcast.aspx?WID=313210

Titan Company : (replay)

https://www.researchbytes.com/webcast.aspx?WID=313209

DCM Shriram : (replay)

https://www.researchbytes.com/webcast.aspx?WID=313206

20 Microns : (replay)

https://www.researchbytes.com/webcast.aspx?WID=313172

Tilaknagar : (replay)

https://www.researchbytes.com/webcast.aspx?WID=313182

Vascon Engineer : (replay)

https://www.researchbytes.com/webcast.aspx?WID=313170

Shankara Buildi : (replay)

https://www.researchbytes.com/webcast.aspx?WID=313171

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

SJVN Ltd.: Q2-FY25 and H1-FY25 results first cut: Robust operating performance partially offset by higher finance cost

CMP: Rs113 | TP: Rs144 | Rating: Hold (under review)

Revenue: Q2-FY25 revenue at Rs 10,263 mn, up 16.8% YoY and up 17.9% QoQ. H1-FY25 revenue at Rs 18,966 mn, up 22.1% YoY.

EBITDA: Q2-FY25 EBITDA at Rs 8,284 mn, up 17.3% YoY and up 24.1% QoQ. H1-FY25 EBITDA at Rs 14,959 mn, up 23.7% YoY.

Net income: Q2-FY25 net income at Rs 4,411 mn, up 0.3% YoY and up23.5% QoQ. H1-FY25 net income at Rs 7,982 mn, up 12.2% YoY.

Gross power generated: Q2-FY25 power generated was 4,728 mn KWh, up 11.5% YoY and up 43.6% QoQ. H1-FY25 power generated was 8,020 mn KWh, up 26.4% YoY.

Margin profile: Q2-FY25 EBITDA margin was at 80.7% versus 80.4% in Q2-FY24 and 76.7% in Q1-FY25. H1-FY25 EBITDA margin was at 78.9% versus 77.8% in H1-FY24.

Q2-FY25 net income margin was at 43% versus 50.1% in Q2-FY24 and 41% in Q1-FY25. H1-FY25 net income margin was at 42.1% versus 45.8% in H1-FY24.

Our view: SJVN’s Q2-FY25 operating performance was stronger on a YoY basis helped by a 14% increase in installed capacity to 2,377 MW coupled with a cyclically strong quarter. However, bottom line came in flat due to higher finance costs.

We shall re-visit our estimates post the concall at 4:30 pm today.

5 November 2024

Provisional Cash Rs. In Crs.

FII/FPI: NET SELL: -2569.41 

(11851.47 - 14420.88) 

DII: NET BUY: +3030.96 

(12616.72 - 9585.76)

Novo Nordisk A/S (Pre market) (Sector- Healthcare)

CVS Health Corporation (Pre market) (Sector- Healthcare)

Sempra (Pre market) (Sector- Energy)

American Electric Power Company, Inc. (Pre market) (Sector- Power)

Johnson Controls International plc (Pre market) (Sector- Capital Goods)

Cencora, Inc. (Pre market) (Sector- Healthcare)

Howmet Aerospace Inc. (Pre market) (Sector- Defense)

Iron Mountain Incorporated (Pre market) (Sector- Real Estate)

CGI Inc (Pre market) (Sector- Technology)

Teva Pharmaceutical Industries Limited (Pre market) (Sector- Healthcare)

Royalty Pharma plc (Pre market) (Sector- Healthcare)

Brookfield Infrastructure Partners LP (Pre market) (Sector- Miscellaneous)

MarketAxess Holdings, Inc. (Pre market) (Sector- Financial)

QUALCOMM Incorporated (Post market) (Sector- Technology)

Gilead Sciences, Inc. (Post market) (Sector- Healthcare)

McKesson Corporation (Post market) (Sector- Healthcare)

Williams Companies, Inc. (Post market) (Sector- Energy)

Applovin Corporation (Post market) (Sector- Technology)

Energy Transfer L.P. (Post market) (Sector- Energy)

Manulife Financial Corp (Post market) (Sector- Financial)

Fair Isaac Corporation (Post market) (Sector- Technology)

Corteva, Inc (Post market) (Sector- Chemicals)

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

Take-Two Interactive Software, Inc. (Post market) (Sector- Technology)

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

Texas Pacific Land Corporation (Post market) (Sector- Energy)

Franco-Nevada Corporation (Post market) (Sector- Metal)

Nutrien Ltd. (Post market) (Sector- Chemicals)

Ameren Corporation (Post market) (Sector- Power)

PTC Inc. (Post market) (Sector- Technology)

STERIS plc (Post market) (Sector- Healthcare)

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

TKO Group Holdings, Inc. (Post market) (Sector- Media)

Sun Communities, Inc. (Post market) (Sector- Real Estate)

Fidelity National Financial, Inc (Post market) (Sector- Financial)

GFL Environmental Inc. (Post market) (Sector- Miscellaneous)

Marathon Oil Corporation (Post market) (Sector- Energy)

Albemarle Corporation (Post market) (Sector- Chemicals)

15:00 U.K. Construction PMI (Expected: 55.3 versus Previous: 57.2)

19:30 Euro ECB President Lagarde Speaks