Share Market Highlights November 11, 2024: Sensex, Nifty close flat amid unabated foreign fund outflows, muted earnings

Mutual Fund industry: Net inflow at ₹2.4 lakh crore vs net outflow of ₹71,114 crore MoM. Net inflow at ₹41887 crore vs net outflow of ₹34419 crore (Inflow numbers seen better as despite market volatility domestic fund flow activities remains in favor)

Morepen Laboratories recorded its net profit for the quarter ended Sept 2024 at ₹34.84 crore as against ₹21.25 crore in the corresponding quarter last year.

Shares trade at ₹79.89 on the NSE, down 4.14%.

The ICICI Prudential Multi-Asset Fund, which has completed 22 years, has accumulated asset under management of Rs 50,496 crore and accounts for 48 per cent of the total AUM in the multi asset allocation category.

A lump sum investment of ₹10 lakh at the time of inception in October 31, 2002 will be worth about ₹7.26 crore given compounded annual growth rate of 22 per cent.

Read more here.

Bajaj Consumer recorded its standalone net profit for the quarter ended September 2024 at ₹33.15 crore as against ₹38.40 crore in the corresponding quarter last year.

Shares trade at ₹221.90 on the NSE, down by 1.96%

Gujarat Ambuja Exports has received Environmental Clearance (EC) from the Ministry of Environment, Forest and Climate Change of India, for setting up a 180 KLPD Greenfield Grain-Based Extra Neutral Alcohol and Ethanol Plant at Malda, West Bengal.

Shares trade flat on the NSE at ₹130.40

Devyani International, that runs brands such as Pizza Hut, posted a net loss of Rs 4.92 crore. However, it has reported an increase of 49.23 per cent in consolidated revenue from opertions at Rs 

Rs 1,222.15 crore in Q2 FY25.

Devyani International announced that it has secured Exclusive Master Franchise rights for three modern QSR brands: TeaLive, New York Fries and Sanook Kitchen. 

“Each partnership is unique and shall help DIL to achieve its growth strategy. As DIL’s existing brands continue to drive store growth and introduce exciting new menu offerings, DIL broadens its offerings to include a new category of modern food & beverage choices by expanding its portfolio of brand,” it added.

DOMS Industries stock gained 1.46% on the NSE to ₹2,812.05.

DOMS Industries had recorded its standalone net profit for the quarter ended September 2024 at ₹48.05 crore as against ₹34.15 crore in the corresponding quarter last year.

Godfrey Phillips India has appointed Vishal Dhariwal as Chief Financial Officer of the Company w.e.f. 1st March 2025.

Board has approved incorporation of a wholly owned subsidiary of the Company for the purpose of carrying out business in the field of Real Estate Development.

Company recorded its standalone net profit for the quarter ended September 2024 at ₹246.86 crore as against ₹163.34 crore in the corresponding quarter last year.

Shares jump 7.26% on the NSE to ₹7,181.80

BEML Ltd recorded its standalone net profit for the quarter ended September 2024 at ₹51.41 crore as against ₹52.11 crore in the corresponding quarter last year.

Shares declined 2.19% on the NSE to ₹4,099.90

The Initial Public Offering (IPO) of Niva Bupa Health Insurance Company has received bids for 24.72 crore shares against 17.28 crore shares on offer, reaching 1.43 times subscription by 12:45 pm on its final day, November 11, 2024.

The retail individual investors’ portion currently leads the subscription status at 2.14 times, with bids for 6.71 crore shares. The majority of retail investors, accounting for 6.03 crore shares, have opted for the cut-off price.

Read more here.

Nupur Recyclers Limited (NRL) announced plans today to expand its operations into metal scrap processing and lithium-ion battery recycling, with a new facility scheduled to open by 2027. The announcement comes as demand grows for sustainable solutions in the electric vehicle sector.

The shares of Nupur Recyclers Limited (NRL) were trading at ₹109.70 down by ₹0.69 or 0.63 per cent on the NSE today at 12.28 pm.

Read more here.

Indian benchmark indices recovered from their lower opening to trade in the green during Monday afternoon trading, with the BSE Sensex rising 315.84 points or 0.40 per cent to 79,802.16 at 12.30 PM. The broader NSE Nifty gained 90.05 points or 0.37 per cent to reach 24,238.25.

Market breadth remained negative with 2,275 stocks declining against 1,681 advances on the BSE. A total of 4,088 stocks were traded, with 132 remaining unchanged. The session saw 233 stocks hitting 52-week highs, while 47 touched their 52-week lows. Circuit filters were triggered for 634 stocks, with 354 hitting upper circuits and 280 touching lower circuits.

Read more here.

Shipping Corporation of India shares rallied 12.33% on the NSE to ₹238.55 following a multi-fold rise in its consolidated net profit to ₹291.44 crore for the second quarter ended September 2024.

Nava shares rise 2.08% to ₹955 on the NSE.

Nava’s board to consider the proposal of alteration in share capital of the Company by sub-division/ split of existing equity shares having face value of ₹2/- each, fully paid up at its meeting on Nov 14.

HEC Infra Projects stock trades at its lower circuit on the NSE at ₹152.45.

Company reported its standalone net profit for the quarter ended Sept 2024 at ₹122.55 lakh as against ₹64.40 lakh in the corresponding quarter last year.

HFCL-Rail Vikas Nigam Limited (RVNL)-Aerial Telecom Solutions Private Limited, a Consortium has been declared as the Lowest Bidders by Bharat Sanchar Nigam Limited (BSNL), for bids valued at ₹6,925 Crore to provide middle-mile network in Uttar Pradesh (East) and Uttar Pradesh (West) under the BharatNet Phase III programme of the Government of India. HFCL has also emerged as the top bidder for Punjab circle for a bid value of ₹1244 Crore in the BharatNet Phase III tenders, on standalone basis. 

HFCL stock surges 3.27% on the NSE to ₹130.93

Niva Bupa Health Insurance Company has been subscribed 1.38 times as at 12.09 pm. QIBs booked 1.60 times, NIIs lukewarm at 0.50 times, and retail portion subscribed 2.05 times.

Tack live updates here.

“Bitcoin crossing the $80,000 mark is a remarkable milestone, underscoring the growing confidence in digital assets. Bitcoin’s dominance stands strong at around 58.25%, highlighting its central role in the crypto ecosystem. According to CoinMarketCap, community sentiment aligns with this rise, with nearly 76% viewing the momentum as bullish, signalling heightened investor confidence. ZebPay has also seen a 55% increase in trading volume over the past 24 hours, driven by Bitcoin’s rise and notable activity in other altcoins.

As more investors turn to Bitcoin, we anticipate this momentum could continue. This landmark moment demonstrates Bitcoin’s resilience and reinforces its appeal within the financial markets. 

At ZebPay, we are committed to supporting our users through this exciting phase, empowering them to make informed decisions and benefit from the expanding digital economy.”

Top gainers: 

Power Grid (4.02%), Trent (3.51%), Tata Motors (2.16%), Wipro (1.80%), Tech Mahindra (1.76%)

Top losers: 

Asian Paints (-7.89%), Cipla (-2.06%), Britannia (-1.66%), ONGC (-1.20%), Tata Steel (-1.15%)

Copper price remained volatile last week on the back of the US Presidential Elections and the Federal Reserve meeting. The Copper Futures contract traded on the Multi Commodity Exchange (MCX) rose to a high of ₹861.30 per kg initially and then fell sharply giving back all the gains. The contract is currently trading at ₹834 per kg.

Read more here. 

Stocks advanced on BSE at 12 noon on November 11, 2024, were 1,785 against 2,115 stocks that declined, and 153 remained unchanged. Total stocks traded were 4,053. The number of stocks that recorded a 52-week high was 220, and those that hit a 52-week low was 45. A total of 341 stocks traded in the upper circuit, and 251 in the lower circuit.

Kranti Industries has received both a Business Nomination Letter and a Purchase Order from CNH Industrial (India) Private Limited. 

Shares up 2.95% on the BSE to ₹67.43

Schloss Bangalore (Leela Palaces Hotels Resorts), an institutionally owned and managed pure-play luxury hospitality company, plans *to* venture into multi-use asset management blending luxury hospitality with business and residential offerings.

India has an existing stock of 858 branded residences associated with hotel brands, with a pipeline of another 2,040 units across New Delhi, Gurgaon and Mumbai, as per industry report.

Read more here.

Bank Nifty index has seen a strong surge now after starting the day on a stable note. The index is now trading at 51,910, up 0.68 per cent. The advances/declines ratio is at 6:6. If this turns in favour of the advances, then the index can rise further during the day. We will have to wait and watch.

Read more here.

Niva Bupa Health Insurance Company IPO has been subscribed 1.28 times as at 10.57 am. QIB portion has been subscribed 1.50 times, NIIs 0.46 times, and retail portion 1.82 times. The IPO closes today.

Find more updates here.

Food delivery major Zomato has launched an initiative called “Food Rescue” to reduce food wastage. The platform said that every month, about four lakh food orders are cancelled, posing a serious challenge, and that it has been working on possible solutions to reduce this food wastage. It added that almost all of restaurant partners have signed up to participate in this initiative. 

With the introduction of the Food Rescue initiative, cancelled orders will now pop up for nearby customers, who can grab them at a cheaper price, in their original untampered packaging, and will receive them in just minutes, it added. 

Read more here.

Hindalco Industries, an Aditya Birla Group company, is expected to report 65 per cent rise in September quarter net profit at ₹3,625 crore against ₹2,196 crore logged last year, despite a weak performance by its wholly-owned US subsidiary Novelis plc.

Revenue is expected to jump 6% to ₹57,704 crore (₹54,169 crore), as per Axis Securities report.

EBITDA may increase 26% to ₹7,092 crore (₹5,638 crore).

Read more here.

Nifty 50 remains stable. The index is trading at 24,115, down 0.14 per cent. It is managing to sustain above the psychological 24,000 mark but is not getting strong buyers to take it higher. The advances/declines ratio is at 20:30. This can keep the sentiment negative. If this trend continues, then the chances are high for the Nifty to decline below 24,000.

Read more here.

Asian Paints stock has hit 52-week low today at ₹2,506 on the NSE after 43.71% decline in consolidated net profit to ₹693.66 crore for the September quarter.

Track live updates here.

The rupee slipped 1 paisa to an all-time low of 84.38 against the US dollar in early trade on Monday, weighed down by persistent foreign fund outflows and a muted trend in domestic equities.

Forex traders said the rupee is likely to remain under pressure unless there is a softening in the dollar index or a slowdown in foreign fund outflows.

At the interbank foreign exchange, the rupee opened at an all-time low of 84.38 against the greenback, registering a fall of 1 paisa over its previous close.

Read more here.

RattanIndia Enterprises Ltd. announced the launch of its newest brand, Neomate, through its 100% wholly owned subsidiary Neobrands Limited.

Shares trade at ₹69.12 on the NSE, lower by 1%.

Zomato has issued clarification that CCI had issued a prima facie order on April 4, 2022, which directed the Office of the Director General of the Commission to investigate potential violations under the Competition Act, 2002 (as amended) (“Competition Act”) (“Prima Facie Order”). 

“The Prima Facie Order was disclosed to the stock exchanges on April 5, 2022, pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”). Since the intimation of April 5, 2022, the Commission, on merits, has not passed any order,” it said.

Zomato shares slip 0.84% to ₹246.65. 

Read more here.

Top gainers: 

• Tata Motors (+3%)
• Power Grid (+2.42%)
• Maruti (+1.68%)
• HCL tech (+1.18%)
• TCS (+1.11%)

Top Losers: 

• Asian Paint (-7.95%)
• Adani Ports (-1.18%)
• ONGC (-1.03%)
• Cipla (-1%)
• Tata Steel (-0.89%)

Domestic stock markets continued their downward trend on Monday, as the bears pulled markets down continuously.

The Nifty 50 index opened with a decline of 60 points, or 0.25%, at 24,087.25 points, while the Sensex opened at 79,312.13 with a decline of 174 points, or 0.22%.

Experts stated that Indian markets may continue to see outflows as the U.S. markets have become an attractive destination for investment following Trump’s return. Trump’s pro-business policies are driving the U.S. markets. The earning downgrades are also affecting the markets.

According to National Securities Depository Ltd (NSDL) data, FPIs offloaded equities worth a significant ₹19,994 crore in just the first five trading sessions of November last week. 

In the Nifty 50 list, 14 stocks opened with advances, while 33 declined during the early trading session. (ANI)

INOX India has been awarded contract from Island Power Producer Ltd, The Bahamas for supply of 10 X 1500m3 LNG Storage tanks and a re-gasification system for a Power Plant Project at the island nation.

Shares trade flat on the NSE at ₹1,190.45

Gold prices fell for a second straight session on Monday, while investors prepared for U.S. economic data and comments from Federal Reserve officials this week for more clarity on the future direction of U.S. interest rates.

Spot gold dropped 0.5 per cent to $2,669.22 per ounce, as of 0306 GMT. U.S. gold futures fell 0.7 per cent to $2,675.90.

“Gold prices were previously seen as a hedge against U.S. political risks, and a quicker-than-expected conclusion in the elections may be a trigger for some near-term unwinding, along with the firmer U.S. dollar,” said IG market strategist Yeap Jun Rong.

Read more here.

Monday, 11 November, 2024 (Today)

Derivative Segment

• Hindalco Ind Ltd

• Shree Cement Ltd

• Gujarat Narmada Ltd

• Britannia Ltd

• Balrampur Chini Ltd

• Jubilant Foodworks Ltd

• ONGC Ltd

• Hindustan Copper Ltd

• Ramco Cements Ltd

• NMDC Ltd

• UPL Ltd

Cash Segment

• Vaibhav Global Ltd.

• Bank Of Ind

• Devyani Ltd.

• Elgi Equipments Ltd.

• Zydus Wellness Ltd.

• Blue Dart Express Ltd.

• BEML Ltd.

• Triveni Turbine Ltd.

• BLS International Ltd.

• Campus Activewear Ltd.

• Galaxy Surfactants Ltd.

• Godfrey Phillips Ltd.

• Graphite Ind Ltd.

Tuesday, 12 November, 2024

Derivative Segment

• Bosch Ltd

• Samvardhana Motherson Ltd

• Zydus Lifesciences 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 Ltd.

• CESC Ltd.

• Natco Pharma Ltd.

• PNC Infratech Ltd.

• Ingersoll-Rand (Ind) Ltd.

• General Insurance Corp

• NMDC Steel Ltd.

• Sunteck Realty Ltd.

• UNO Minda Ltd.

• Vinati Organics Ltd.

• EIH Ltd.

• Jyothy Labs Ltd.

• KNR Constructions Ltd.

• Minda Corporation Ltd.

• FSN E-Commerce Ltd.

Wednesday, 13 November, 2024

Derivative Segment

• Deepak Nitrite Ltd

• PI Industries Ltd

• Alkem Laboratories Ltd

• Vodafone Idea Ltd

Cash Segment

• HEG Ltd.

• Kalyan Jewellers Ind Ltd.

• Happiest Minds Tech Ltd.

• KSB Ltd.

• Thermax Ltd.

• Astrazeneca Pharma Ltd.

• NBCC (Ind) Ltd.

• Brigade Enterprises Ltd.

• Jash Engineering Ltd.

• RCF Ltd.

• Varroc Engineering Ltd.

• Century Plyboards Ltd.

• Mishra Dhatu Ltd.

• Prism Johnson Ltd.

Thursday, 14 November, 2024

Derivative Segment

• Grasim Industries Ltd

• Hindustan Aero Ltd

• IPCA Lab Ltd

• Hero MotoCorp Ltd

• Crompton Greaves Ltd

• Glenmark Pharma Ltd

• Bharat Forge Ltd

Cash Segment

• Honasa Consu Ltd.

• E.I.D. - Parry (Ind) Ltd.

• Lemon Tree Ltd.

• Bharat Dynamics Ltd.

• Schneider Electric Ltd.

• Ratnamani Metals Ltd.

Ex-Dividend 12 Nov 2024 (Tomorrow)

Last date for Cum-Dividend Today

D-Link (India) Ltd\u0009

Dividend Per Share Rs.5\u0009

Previous day Closing Price – Rs. 565.4\u0009

\u0009

Indraprastha Gas Ltd.\u0009

Dividend Per Share Rs.5.5\u0009

Previous day Closing Price – Rs. 442.45\u0009

\u0009

Indian Railway Finance Corporation Ltd\u0009

Dividend Per Share Rs.0.8\u0009

Previous day Closing Price – Rs. 148.45\u0009

\u0009

PDS Ltd\u0009

Dividend Per Share Rs.1.65\u0009

Previous day Closing Price – Rs. 532.5

JPM on Asian Paints

Downgrade to UW, TP cut to Rs 2400 

Q2 significantly weaker than expectations – revenue/EBITDA was 6%/20% below consensus

APNT is lagging peers with differential expanding further in Q2 both on reve & earnings front

Lower FY25-27E EPS by 10-12%

Jefferies on Asian Paints

U-P, TP Rs 2100

Significant miss in 2Q, with a line by line miss across P&L heads

A mild vol decline, >500bp Ebitda margin decline resulted in pre-ex earning decline of 31% YoY

Mgmt blamed weak consumer sentiment & seasonality but presented +ve H2 view

Nomura on Asian Paints

Neutral, TP Rs 2500

2Q: Below est.; volumes decline of 0.5% y-y below peers’ growth of c.3-4% & est of +8%

Sales / EBITDA decline sharply by 5% / 28% y-y

OPM down sharply due to a drop in GPM/ higher staff cost; APNT’s OPM narrows vs peers

MS on Asian Paints

UW, TP Rs 2522

2Q revenue & margins missed estimates, hampered by subdued demand and extended rains & floods

Volume growth (at -0.5%) was weaker than peers

Product mix, rising rebates, employee costs and high selling expenses are key monitorables

CLSA on SBI

O-P, TP Rs 1075

Loan growth & asset quality stable & marginal NIM compression

Loan growth remains healthy but deposit growth lagging (on a YoY basis)

Marginal decline in NIM but asset quality remains intact

Forecast 15%-16% ROE over medium term

JPM on SBI

OW, TP Rs 1000

2Q PAT (Rs183bn; ROE: 18%) exceeded JPMe due to higher other income (trading gains/recovery income) & lower operating expenses.

NII in line, with reported NIMs down 8bps q/q, while core PPOP 11% above est. 

Asset quality was strong

Bernstein on SBI

Market Perform, TP Rs 810

A healthy set of numbers as RoA at 1.17% remained above 1%, while EPS growth was also strong at 28% YoY

Biggest relief was lack of any major asset quality deterioration (slippages declined QoQ and NPA ratios were stable)

Jefferies on SBI

Buy, TP Rs 1030

For 2Q , SBI’s profit of Rs183bn, up 28%, beat est with higher MTM gains & lower staff cost.

Key positive was stable asset quality, even in unsecured loans that kept credit cost low at 0.4%.

Deposit growth improved to 9%

Nomura on Tata Motors

Buy, TP cut to Rs 900 from Rs 1303

2Q below, but JLR guidance maintained

Strong rebound in JLR in 2HFY25; India CV recovery likely by 4QFY25F

Consol EBITDA at Rs 121.5bn below est of Rs 130.6bn

JLR’s performance across markets has been better than peers

Jefferies on Tata Motors

Buy, TP cut to Rs 1000 from Rs 1330

2Q EBITDA fell 15% YoY, & 9% below JEFe on weaker JLR margin.

While JLR is facing tough macro in China and Europe, 2Q was also impacted by aluminum supply constraints & delayed shipments

Cut FY25-27E EPS by 2-9%

UBS on Tata Motors

Sell, TP cut to Rs 780

Significant miss led by JLR despite D&A respite

JLR and CV disappoint while PV in line

Amidst industry wide profit warnings JLR management reiterated their FY25 EBIT guidance

FCF guidance now stands at £1.3bn from earlier £1.8bn

CLSA on Tata Motors

Upgrade to O-P, TP Rs 968 after recent correction

Q2 lower-than-expected led by lower-than-expected profitability for its JLR & (CV) biz 

JLR’s Ebit margin was 5.1% (-220bps YoY) led by a c.10k unit production loss due & c.6k unit impact due to parts issues

MS on Ashok Leyland

OW, TP cut to Rs 268

Q2 EBITDA was a touch ahead of estimates.

Expect volume trends to gradually improve, helped by favorable base.

Industry focus on margins, gradual volume recovery and valuation support drive OW

JPM on Ashok Leyland

OW. TP Rs 250

2Q operating results beat expectations due to stronger-than-expected gross margins.

This is in line with AL’s stated goal (as well as its competitor TTMT’s) of prioritizing profitability over volumes/market-share in near term

Nomura on Ashok Leyland

Buy, TP cut to Rs 247

Margins holding well due to pricing discipline

2Q margins in line with consensus; CV cycle expected to improve

Despite recent weak CV demand, maintain +ve outlook on cycle

CLSA on Ashok Leyland

U-P, TP Rs 188

2Q Ebitda margin of 11.6% was 60bps above est. led by 100bps QoQ better gross margin driven by steel price softening and cost-reduction initiatives.

Management looking forward to 0-2% industry growth for (M&HCVs) in FY25

CITI on Ashok Leyland

Buy, TP Rs 260

2Q above estimates as better-than-expected gross margin offset lower operating leverage.

Mgmt. outlook +ve.

Mgmt noted that co has been focused on margins, thus has not increased discounts.

Nomura on Info Edge

Buy, TP Rs 8630

Recruitment vertical — healthy bounce back continues

Real estate — stable billing growth continued

Other verticals — matrimony and education continue to grow

Cut FY26F-27F EPS by 5%

CITI on Info Edge

Buy, TP raised to Rs 8850

reported a solid 2Q – revenues were in-line while EBITDA 3% ahead (+14% YoY)

Commentary suggests recruitment billings growth should accelerate further in 3Q (expect 19% YoY in 3Q vs 14% YoY in 2Q)

Margins expanded c300bpsQoQ/100bps YoY

CITI On Divis Labs

Buy, TP Raised to Rs 6850

Q2 ahead of Est.

Revenue/EBITDA/PAT grew 10%/15%/18% QoQ

Commentary was strong & has validated GLP-1 thesis

Co believes that they are expected to be a major player in GLP-1 & supplies expected to commence earlier than next 12 mths

UBS on Aurobindo

Sell, TP Rs 1333

Weak 2Q: Lower gRevlimid, higher WC, Eugia guidance to be missed

US rev- strong orals, slow recovery in injectables

CMO-doubling of capacity to 60KL could add 7-10% to 2030 EBITDA

GLP-1 -Focusing on developed market on both API & formulation

GS on USL

Initiate Buy, TP Rs 1650

USL has also taken initiatives in growing non-Whisky categories

Introducing premium brands in Tequila & Gin

Extending largest Whisky brand to gin, Vodka & Rum

Est. EPS to increase at a CAGR of 14% over FY24-27

GS on Trent

Initiate Buy, TP Rs 8000

Market share gain led growth story

Zudio’s business model not easy to replicate

Recent moderation due to urban slowdown, but expect a recovery

Expect Co to deliver revenue/EBITDA/PAT CAGR of 28%/34%/29% over FY24-30E

GS on Ola Electric

Buy, TP Rs 137

2Q re /vol growth of +39%/+74% yoy

Co acknowledged gaps in its service network infra & indicated to exit Dec 2024 with 1000 service centers vs 500 in Sept 

Should get full 13% PLI incentive benefit as % of topline in 3Q vs 5% benefit in 2Q

Bernstein on LIC

Market perform, TP Rs 1190

Reported healthy growth in new business premium (+22% YoY) led by Non-Par savings, with some impact from pull-forward sales.

Kotak Inst Eqt on LIC

Buy, TP Rs 1250

Reported strong (47%) VNB growth in 2QFY25

Bernstein on PFC

O-P, TP Rs 620

Loan book- Disbursement picks up

Asset quality continues to improve

Board has decided not to go ahead with loan to Shapoorji Group 

Vodafone Idea was never even in consideration set

Guidance for full year retained

Axis Cap on Reliance

Maintain Buy with TP of Rs 1779

Reliance Retail is India’s largest retailer by reach, scale, revenue, and profitability

RRVL to gain in q-com from assortment/pricing; delivery timeline likely longer

Satcom will directly compete with terrestrial broadband

It is a niche offering and is at a significant premium to traditional offerings

This is also why Starlink’s adoption has been slower globally, especially in Africa

Viacom and Disney to play fair to protect advertisers’ rights

Jefferies on State Bank: Maintain Buy on Bank, raise target price at Rs 1030/Sh (Positive)

DAM on State Bank: Maintain Buy on Bank, target price at Rs 950/Sh (Positive)

CLSA on State Bank: Maintain Outperform on Bank, raise target price at Rs 1075/Sh (Positive)

Nomura on State Bank: Maintain Buy on Bank, raise target price at Rs 1050/Sh (Positive)

Citi on Bank Baroda: Maintain Buy on Bank, target price at Rs 300/Sh (Positive)

GS on United Spirits: Initiate Buy on Company, target price at Rs 1650/Sh (Positive)

GS on TRENT: Initiate Buy on Company, target price at Rs 8000/Sh (Positive)

Axis on Reliance: Maintain Buy on Company, target price at Rs 1779/Sh (Positive)

Nomura on Info Edge: Maintain Buy on Company, raise target price at Rs 8630/Sh (Positive)

Citi on Info Edge: Maintain Buy on Company, raise target price at Rs 8850/Sh (Positive)

Nuvama on Fortis: Maintain Buy on Company, raise target price at Rs 715/Sh (Positive)

Nuvama on Divis Lab: Maintain Buy on Company, target price at Rs 6830/Sh (Positive)

HSBC on Lupin: Upgrade to Buy on Company, raise target price at Rs 2400/Sh (Positive)

MS on Ashok Ley: Maintain Overweight on Company, target price at Rs 268/Sh (Positive)

Bernstein on PFC: Maintain Outperform on Company, target price at Rs 620/Sh (Positive)

MS on Life Insurance: Oct-24 Update - HDFC Life, ICICI Pru Life reported relatively stronger numbers (Positive)

CLSA on Tata Motors: Upgrade to Outperform on Company, cut target price at Rs 968/Sh (Neutral)

Jefferies on Tata Motors: Maintain Buy on Company, cut target price at Rs 1000/Sh (Neutral)

Bernstein on LIC: Maintain Market perform on Company, target price at Rs 1190/Sh (Neutral)

Bernstein on State Bank: Maintain Market perform on Bank, target price at Rs 810/Sh (Neutral)

CLSA on Vedanta: Maintain Outperform on Company, cut target price at Rs 520/Sh (Neutral)

CLSA on PFC: Maintain Outperform on Company, target price at Rs 610/Sh (Neutral)

Jefferies on Ashok Ley: Maintain Buy on Company, cut target price at Rs 235/Sh (Neutral)

CLSA on Ashok Ley: Maintain Underperform on Company, target price at Rs 188/Sh (Neutral)

BofA on OLA: Maintain Buy on Company, cut target price at Rs 120/Sh (Neutral)

UBS on PB Fintech: Downgrade to Sell on Company, raise target price at Rs 1550/Sh (Neutral)

Jefferies India strategy: More than a fifth of stocks under India coverage are trading below the June election results lows (Negative) 

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

Nuvama on Tata Motors: Maintain Reduce on Company, cut target price at Rs 767/Sh (Negative) 

Citi on SAIL: Maintain Sell on Company, cut target price at Rs 105/Sh (Negative) 

CLSA on Asian Paints: Maintain Underperform on Company, cut target price at Rs 2290/Sh (Negative) 

Nomura on Asian Paints: Maintain Neutral on Company, cut target price at Rs 2500/Sh (Negative) 

JP Morgan on Asian Paints: Downgrade to Underweight on Company, cut target price at Rs 2400/Sh (Negative)

MS on Asian Paints: Maintain Underweight on Company, cut target price at Rs 2522/Sh (Negative)

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Researchbytes Events Update

As of 07:12 AM Monday 11 November 2024

Can set alert for them at www.researchbytes.com 

8:30 AM Aurobindo Pharm

(Press Release )

Weblink: https://tinyurl.com/bdekkmjp

9:00 AM Metropolis

(Investor/Analyst Presentation, Press Release )

Dial: +91 22 6280 1552

Weblink: https://tinyurl.com/4t3ck7ys

9:30 AM Pakka Limited

Weblink: https://tinyurl.com/2dec3nrh

10:00 AM Affle India

Dial: +91 22 6280 1148

Weblink: https://tinyurl.com/3v76n2ds

10:00 AM KIMS Hospitals

(Press Release )

Dial: +91 22 6280 1259 

Weblink: https://tinyurl.com/mpe97w2b

10:30 AM Jupiter Life

(Results, Investor/Analyst Presentation)

Dial: +91226280 1399

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

11:00 AM Rolex Rings

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11:00 AM Signature Globa

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DCX Systems: Company receives Rs 460.30 crores export order from Lockheed Martin Global (Positive)

HAL: Company gets contract for avionics upgrade of dornier-228 transport aircraft (Positive)

Dixon: Company partners with Nokia Solutions & Networks OY to develop and manufacture telecom products. (Positive)

Shadhana Nitro: NCLT Approves Sadhana Nitro Chem Ltd.’s Resolution Plan for acquisition of Calchem Industries (India) Ltd. (Positive)

Thomas Cook: Opens outlet in Dombivli to tap into the rapidly growing market of Mumbai Metropolitan Region. (Positive)

Vishnu Chemicals: Company has signed a deal to acquire a Chrome Mining Complex in South Africa for Rs 84 Cr (Positive)

Azad Engineering: Company has entered into a non-binding MoU with Baker Hughes Saudi Arabia to discuss potential arrangements for setting up a facility to manufacture and supply precision components in Saudi Arabia (Positive)

G R Infraprojects: Company has emerged as L-1 bidder for contract value of 867.54 Crore. (Positive)

Biocon: USFDA classifies Park Site unit in Bengaluru, India as Voluntary Action Initiated (VAI) (Positive)

KIMS: Company signs 15-year management agreement for new hospital. (Positive)

ITI: Emerges lowest bidder for three packages for Bharat Net Phase-3 project worth ₹4,599 crore. (Positive)

DIVIS LAB Q2: Net Profit at Rs 510 crore versus poll Rs 490 crore, Revenues at Rs 2338 crore versus poll Rs 2240 crore (Positive)

PFC: Net profit at Rs 4370 cr vs Rs 3847 cr, Revenue at Rs 13200 cr vs Rs 11787 cr (YoY) (Positive)

Whirlpool of India: Net profit at Rs 52.0 cr vs Rs 36.6 cr, Revenue at Rs 1700 cr vs Rs 1500 cr (YoY) (Positive)

Premier Energies: Net profit at Rs 206 cr vs Rs 52 cr, Revenue at Rs 1527 cr vs Rs 693 cr (YoY) (Positive)

Pix Transmission: Net profit at Rs 40 cr vs Rs 21 cr, Revenue at Rs 159 cr vs Rs 124 cr (YoY) (Positive)

Vimta Labs: Net profit at Rs 17 cr vs Rs 9 cr, Revenue at Rs 84 cr vs Rs 65 cr (YoY) (Positive)

ASM Tech: Net profit at Rs 3.1 cr vs loss Rs 1.7 cr, Revenue at Rs 56.9 cr vs Rs 50.4 cr (YoY) (Positive)

Epigral: Net profit at Rs 81 cr vs Rs 38 cr, Revenue at Rs 626 cr vs Rs 478 cr (YoY) (Positive)

Aries Agro: Net profit at Rs 24 cr vs Rs 17.9 cr, Revenue at Rs 235 cr vs Rs 201 cr (YoY) (Positive)

Piccadilly Agro: Net profit at Rs 24.4 cr vs Rs 11.4 cr, Revenue at Rs 199 cr vs Rs 122 cr (YoY) (Positive)

Jupiter Wagons: Net profit at Rs 88.6 cr vs Rs 81.6 cr, Revenue at Rs 980 cr vs Rs 880 cr (YoY) (Positive)

Fine Organic: Net profit at Rs 120 cr vs Rs 103 cr, Revenue at Rs 590 cr vs Rs 540 cr (YoY) (Positive)

Dynacons: Net profit at Rs 18 cr vs Rs 12.5 cr, Revenue at Rs 306 cr vs Rs 220 cr (YoY) (Positive)

Metropolis Health: Net profit at Rs 47.0 cr vs Rs 35.4 cr, Revenue at Rs 350 cr vs Rs 309 cr (YoY) (Positive)

Jupiter Life: Net profit at Rs 50.3 cr vs Rs 36.1 cr, Revenue at Rs 273 cr vs Rs 227 cr (YoY) (Positive)

ESAB: Net profit at Rs 43.2 cr vs Rs 38.4 cr, Revenue at Rs 340 cr vs Rs 304 cr (YoY) (Positive)

Robust Hotels: Net profit at Rs 2.3 cr vs Rs 0.3 cr, Revenue at Rs 34.0 cr vs Rs 27.6 cr (YoY) (Positive)

Batliboi: Net profit at Rs 4.0 cr vs Rs 2.4 cr, Revenue at Rs 75 cr vs Rs 70 cr (YoY) (Positive)

DOMS: Net profit at Rs 51.3 cr vs Rs 36.0 cr, Revenue at Rs 458 cr vs Rs 382 cr (YoY) (Positive)

Healthcare Global: Net profit at Rs 18 cr vs Rs 13.6 cr, Revenue at Rs 552 cr vs Rs 486 cr (YoY) (Positive)

Fortis: Net profit at Rs 193 cr vs Rs 184 cr, Revenue at Rs 1988 cr vs Rs 1770 cr (YoY) (Positive)

Anuh Pharma: Net profit at Rs 15.0 cr vs Rs 13.8 cr, Revenue at Rs 166 cr vs Rs 149 cr (YoY) (Positive)

Samhi: Net profit at Rs 12.6 cr vs loss Rs 88.0 cr, Revenue at Rs 265 cr vs Rs 220 cr (YoY) (Positive)

Kovai Medical: Net profit at Rs 51 cr vs Rs 43 cr, Revenue at Rs 344 cr vs Rs 302 cr (YoY) (Positive)

Manaksia: Net profit at Rs 1.7 cr vs Rs 1.2 cr, Revenue at Rs 151 cr vs Rs 100 cr (YoY) (Positive)

GE Vernova: Net profit at Rs 145 cr vs Rs 37 cr, Revenue at Rs 1107 cr vs Rs 697 cr (YoY) (Positive)

Alembic Ltd: Net profit at Rs 77 cr vs Rs 51 cr, Revenue at Rs 118 cr vs Rs 80 cr (YoY) (Positive)

SCI: Net Profit at Rs 291 cr vs Rs 65.7 cr, Revenue at Rs 1450 cr vs Rs 1093 cr (Positive)

Auro Pharma: Net Profit at Rs 817 crore versus poll Rs 930 crore, Revenues at Rs 7766 crore versus poll Rs 7757 crore (Neutral)

LIC: Net profit at Rs 7728.68 cr vs Rs 8030.28 cr, NPR at Rs 120325.7 cr vs Rs 107876.8 cr (YoY) (Neutral)

C E Info Systems: Net profit at Rs 30.3 cr vs Rs 33.0 cr, Revenue at Rs 104 cr vs Rs 91.0 cr (YoY) (Neutral)

Ola Electric: Net Loss at Rs 495 cr vs Rs 495 cr, Revenue at Rs 1214 cr vs Rs 873 cr (YoY) (Neutral)

Relaxo: Net profit at Rs 36.7 cr vs Rs 44.2 cr, Revenue at Rs 680 cr vs Rs 715 cr (YoY) (Neutral)

Atul Auto: Net profit at Rs 4.6 cr vs Rs 7.1 cr, Revenue at Rs 181 cr vs Rs 153 cr (YoY) (Neutral)

Dreamfolks Services: Net profit at Rs 17.1 cr vs Rs 18.1 cr, Revenue at Rs 320 cr vs Rs 280 cr (YoY) (Neutral)

Steelcast: Net profit at Rs 13.3 cr vs Rs 18.6 cr, Revenue at Rs 76 cr vs Rs 101 cr (YoY) (Neutral)

Welspun Corp: Net profit at Rs 290 cr vs Rs 385 cr, Revenue at Rs 3300 cr vs Rs 4060 cr (YoY) (Neutral)

MSTC: Net profit at Rs 41 cr vs Rs 39 cr, Revenue at Rs 72 cr vs Rs 69 cr (YoY) (Neutral)

Fortis Health: Net profit at Rs 176 cr vs Rs 174 cr, Revenue at Rs 1988 cr vs Rs 1770 cr (YoY) (Neutral)

VPRPL: Net profit at Rs 23.7 cr vs Rs 21.2 cr, Revenue at Rs 335 cr vs Rs 290 cr (YoY) (Neutral)

SPL: Net profit at Rs 3.96 cr vs Rs 2.58 cr, Revenue at Rs 39.5 cr vs Rs 42.5 cr (YoY) (Neutral)

Khadim: Net profit at Rs 2.3 cr vs Rs 1.7 cr, Revenue at Rs 161 cr vs Rs 157 cr (YoY) (Neutral)

Data Patterns: Net profit at Rs 30.3 cr vs Rs 33.8 cr, Revenue at Rs 91 cr vs Rs 108 cr (YoY) (Neutral)

IKIO: Net profit at Rs 12.9 cr vs Rs 18.2 cr, Revenue at Rs 125 cr vs Rs 118 cr (YoY) (Neutral)

NGL Fine: Net profit at Rs 9.8 cr vs Rs 10.4 cr, Revenue at Rs 93.5 cr vs Rs 80.0 cr (YoY) (Neutral)

Mayur Uniq: Net profit at Rs 39.8 cr vs Rs 32.4 cr, Revenue at Rs 208 cr vs Rs 203 cr (YoY) (Neutral)

PPAP Auto: Net profit at Rs 3.2 cr vs Rs 0.5 cr, Revenue at Rs 145 cr vs Rs 148 cr (YoY) (Neutral)

ZF Commercial: Net profit at Rs 109.1 cr vs Rs 105.6 cr, Revenue at Rs 910 cr vs Rs 991 cr (YoY) (Neutral)

Advance Enzymes: Net profit at Rs 38.2 cr vs Rs 42.5 cr, Revenue at Rs 146 cr vs Rs 158 cr (YoY) (Neutral)

Motherson Wiring: Net profit at Rs 152 cr vs Rs 156 cr, Revenue at Rs 2323 cr vs Rs 2096 cr (YoY) (Neutral)

GIC Housing: Net profit at Rs 36.5 cr vs Rs 30.2 cr, Revenue at Rs 259 cr vs Rs 262 cr (YoY) (Neutral)

Signature Global: Net profit at Rs 4.2 cr vs Rs 5.8 cr, Revenue at Rs 749 cr vs Rs 401 cr (QoQ) (Neutral)

Sahyadri: Net profit at Rs 1.9 cr vs Rs 3.8 cr, Revenue at Rs 103 cr vs Rs 120 cr (YoY) (Neutral)

Gokul Refoil: Circuit filter changed to 5 percent from 20 percent. Result to be announced at 14th November. (Neutral)

Info Edge (India): Investment of Rs 200 million rupees in Jeevansathi internet services (Neutral)

CCCL: Company has allotted 19676827 equity shares to promoters (Neutral)

Zomato: Company introduces new feature Food Rescue (Neutral)

JSW Steel: Company terminates coal block development agreement for Banai and Bhalumuda block (Neutral)

Force Motors: Company reported a 0.81% increase in domestic sales of SCVs, LCVs, SUVs, and UVS in October 2024 (Neutral)

Piramal Enterprises: Company announced the resignation of Mr. Kamlakar Nayak, Chief Compliance Officer. (Neutral)

Suzlon: Mr. Ishwar Chand Mangal, the CEO – New Business and one of the SMPs of the Company, has resigned from the services of the Company (Negative)

Ashapura Mine: Mr. Pannkaj Chimanlal Ghadiali has tendered his Resignation due to professional commitments abroad (Negative)

Tata Motors: Net profit at Rs 3343 cr vs Rs 3764 cr, Revenue at Rs 1.01 Lakh Cr vs Rs 1.05 Lakh Cr (YoY). (Negative)

Aarti Ind: Net profit at Rs 52 cr vs Rs 137 cr, Revenue at Rs 1628 cr vs Rs 1855 cr (QoQ). (Negative)

Repro India: Net Loss at Rs 4.4 cr vs Profit of Rs 1.9 cr, Revenue at Rs 105 cr vs Rs 117 cr (YoY) (Negative)

Orient Cem: Net profit at Rs 2.3 cr vs Rs 24.6 cr, Revenue at Rs 540 cr vs Rs 720 cr (YoY) (Negative)

Ginni Filaments: Net profit at Rs 0.07 cr vs Rs 8.9 cr, Revenue at Rs 93 cr vs Rs 83 cr (YoY) (Negative)

Goa Carbon: Net loss at Rs 10.1 cr vs profit Rs 28.9 cr, Revenue at Rs 119 cr vs Rs 224 cr (YoY) (Negative)

Andhra Petro: Net loss at Rs 3.6 cr vs profit Rs 8.4 cr, Revenue at Rs 104 cr vs Rs 180 cr (YoY) (Negative)

Purvankara: Net loss at Rs 17 cr vs Rs 11 cr, Revenue at Rs 495 cr vs Rs 368 cr (YoY) (Negative)

GOCL: Net profit at Rs 5.4 cr vs Rs 15.7 cr, Revenue at Rs 127 cr vs Rs 163 cr (YoY) (Negative)

Equitas SFB: Net Profit at ₹13 Cr vs Poll Of ₹157.6 Cr, NII at ₹802 Cr vs Poll Of ₹819.3 Cr (Negative)

Hi-Tech: Net profit at Rs 9.5 cr vs Rs 72.2 cr, Revenue at Rs 241 cr vs Rs 278 cr (YoY) (Negative)

Archean Chemicals: Net profit at Rs 15.6 cr vs Rs 65.8 cr, Revenue at Rs 240 cr vs Rs 290 cr (YoY) (Negative)

Asian Paints: Net Profit at Rs 693.6 crore versus poll Rs 1091 crore (Exceptional loss Rs 180.0 crore). Revenues at Rs 8003 crore versus poll Rs 8538 crore (Negative)

Utkarsh SFB: Slippages at Rs356 cr vs Rs102 cr, up 249% (Negative)

The Nifty and Sensex ended the week with a modest decline, reflecting the volatility driven by a slew of global events. Indian markets underperformed compared to global peers, primarily due to aggressive Foreign Institutional Investor (FII) selling. FIIs offloaded roughly ₹20,000 crore from Indian equities last week. In sectoral trends, IT stocks rallied post-U.S. election results, lifting the Nifty IT Index by 4%. Conversely, the high-beta Nifty Realty Index fell by 4%.

With major global events and Q2 earnings behind us, the market focus now shifts to key macroeconomic data and the last round of Q2 earnings. India is set to release CPI and IIP data on November 12, with WPI data expected on November 14. Globally, the U.S. inflation report on November 13 will be critical, as it may influence the Federal Reserve’s upcoming policy stance. Additionally, investors will monitor developments in China’s economic stimulus package.

The performance of U.S. bond yields and the Dollar Index will be pivotal for emerging markets like India, as both have surged since the U.S. election outcome. Given this backdrop, FII activity will remain a crucial driver for the Indian equity market in the near term.

Despite the ongoing outrage of funds since last month, this month saw an unprecedented applications of about 40-50 new FPI registrations which are eyeing to enter the Indian market. All thanks to SEBI’s recent relaxation to NRIs, permitting them to participate upto 100% and announcing measures for ease of entry and operations in India.

Though FPI community had been very cautious about Indian markets in the last couple of months, shifting their allocation to other countries like China; India still stands on better footing as compared to other markets. The major factors attributable are political certainty, long term growth, better yields, substantial capex spending by the government and last but not the least, the central bank’s vigilant approach while announcing rate cuts to put a check on inflation.

The offshore participants are optimistic that the RBI will adopt a balanced approach to ensure the cost of raising funds is under control and is made easily accessible to India Inc in the upcoming quarter’s announcement.

Additionally, the outcome of the recent election results held in the US has created an optimism for the Indian market considering the strategic partnership between the two countries. This will boost the economic and mutual businesses and other foreign trade policies which will make India more lucrative for foreign investments. We may see the upside in FPI’s inflows in equity and debt segment turning in green in the coming few trading cycles.

The market reflects distinct asset reactions under Trump’s economic stance. Key takeaways:

1. Interest Rates & Inflation: Trump’s policies, especially in a possible 2.0 phase, lean towards a low-interest-rate environment. This may drive negative real interest rates, impacting U.S. consumers.

2. USD Impact: The USD has historically risen with Trump but faded within months, indicating a correlation with Fed cycles. Lower rates may weaken USD, potentially channeling positive flows to emerging markets.

3. Commodities: Gold and oil have diverged; while oil responds to supply-demand shocks, gold could thrive in an inflationary, low-rate scenario, aligning with past trends under Trump.

4. Equity: US manufacturing shows strength from reindustrialization. Indian IT, too, benefits with increased U.S. budgets post-corporate tax cuts.

5. Global Trade: Trade deficits expanded, but dependence on China decreased. China may mirror Mexico’s experience in Trump 1.0, potentially benefiting amidst trade realignments.

Trump’s influence touches on inflation, asset valuation, and sectoral shifts, with implications for global markets and emerging economies.

C.E. INFO SYSTEMS: Q2 CONS NET PROFIT 303M RUPEES VS 330M (YOY); 358M (QOQ)

C.E. INFO SYSTEMS: Q2 REVENUE 1.04B RUPEES VS 910M (YOY)

C.E. INFO SYSTEMS: Q2 EBITDA 371M RUPEES VS 404M (YOY) || Q2 EBITDA MARGIN 35.79% VS 44.41% (YOY)

LIC: Q2 SL NET PROFIT 76.2B RUPEES VS 79.25B (YOY); 104.6B (QOQ)

LIC: Q2 REVENUE 1.2T RUPEES VS 1.07T (YOY)

LIC: GROSS NPA 1.69% VS 1.69% (QOQ)

TATA MOTORS: Q2 CONS NET PROFIT 33.4B RUPEES VS 37.6B (YOY); 55.7B (QOQ)

TATA MOTORS: Q2 REVENUE 1.01T RUPEES VS 1.05T (YOY)

TATA MOTORS: Q2 EBITDA 116B RUPEES VS 144B (YOY) || Q2 EBITDA MARGIN 11.4% VS 13.70% (YOY) (AS PER CO STATEMENT)

* ABFRL

* GRANULES

* MANAPPURAM

Monday .com Ltd. (Pre market) (Sector- Technology)

Aramark (Pre market) (Sector- Hotels)

Grab Holdings Limited (Post market) (Sector- Technology)

Live Nation Entertainment, Inc (Post market) (Sector- Media)

U.S. Bank Holiday, Market to remain open for trading

No major Economic Data

CESC 

* Revenue expected at Rs 4748 crore versus Rs 4352 crore

* EBITDA expected to be seen at Rs 1020 crore versus Rs 646 crore

* EBITDA margin expected to be seen at 21.48% versus 14.84%

* Net profit expected to be seen at Rs 365 crore versus Rs 348 crore

JYOTHYLAB 

* Revenue expected at Rs 791 crore versus Rs 732 crore

* EBITDA expected to be seen at Rs 144 crore versus Rs 135 crore

* EBITDA margin expected to be seen at 18.21% versus 18.48%

* Net profit expected to be seen at Rs 111 crore versus Rs 104 crore

MOTHERSON 

* Revenue expected at Rs 28185 crore versus Rs 23473 crore

* EBITDA expected to be seen at Rs 2716 crore versus Rs 2138 crore

* EBITDA margin expected to be seen at 9.64% versus 9.10%

* Net profit expected to be seen at Rs 918 crore versus Rs 451 crore

NATCOPHARM 

* Revenue expected at Rs 1312 crore versus Rs 1031 crore

* EBITDA expected to be seen at Rs 681 crore versus Rs 458 crore

* EBITDA margin expected to be seen at 51.91% versus 44.41%

* Net profit expected to be seen at Rs 558 crore versus Rs 369 crore

NYKAA 

* Revenue expected at Rs 1885 crore versus Rs 1507 crore

* EBITDA expected to be seen at Rs 116 crore versus Rs 80 crore

* EBITDA margin expected to be seen at 6.15% versus 5.35%

* Net profit expected to be seen at Rs 27 crore versus Rs 5 crore

ZYDUSLIFE 

* Revenue expected at Rs 5163 crore versus Rs 4368 crore

* EBITDA expected to be seen at Rs 1363 crore versus Rs 1146 crore

* EBITDA margin expected to be seen at 26.40% versus 26.23%

* Net profit expected to be seen at Rs 906 crore versus Rs 800 crore

Here is a list of 10 stocks that LIC bought Q2 of FY25, according to PRIME Database report:

1. Bank of Maharashtra

LIC raised its holding in Bank of Maharashtra from less than 1% in the June quarter of FY25 to 4.05% in the September quarter of FY25.

2. Container Corporation of India

LIC raised its holding in Container Corporation of India from 6.07% in Q1 FY25 to 8.42% in Q2 FY25.

3. IndusInd Bank

LIC’s stake in IndusInd Bank grew from 2.24% in Q1 FY25 to 4.36% in Q2 FY25.

4. Dalmia Bharat

LIC raised its holding in Dalmia Bharat from 3.23% in the June quarter of FY25 to 5.09% in the September quarter of FY25.

5. IDFC FIRST Bank

LIC increased its holding in IDFC First Bank from less than 1% in the June quarter of FY25 to 2.68% in the September quarter of FY25.

6. Patanjali Foods

LIC’s holding in Patanjali Foods rose from 2.06% in Q1 FY25 to 3.72% in Q2 FY25.

7. Shyam Metalics & Energy

LIC boosted its stake in Shyam Metalics & Energy from under 1% in Q1 FY25 to 2.49% in Q2 FY25.

8. SRF

LIC increased its holding in SRF from 3.4% in the June quarter of FY25 to 4.72% in the September quarter of FY25.

9. Cyient

LIC raised its holding in Cyient from less than 1% in the June quarter of FY25 to 2.17% in the September quarter of FY25.

10. General Insurance Corporation of India

LIC raised its stake in General Insurance Corporation of India from 8.66% in Q1 FY25 to 9.81% in Q2 FY25.

ASIAN PAINT Q2:

* Net Profit at Rs 693.6 crore versus poll Rs 1091 crore (Exceptional loss Rs 180.0 crore)

* Revenues at Rs 8003 crore versus poll Rs 8538 crore

* EBITDA at Rs 1239.1 crore versus poll Rs 1561 crore

* EBITDA Margin at 15.4% versus poll 18.3%

(Numbers trailed with estimates)

DIVIS LAB Q2:

* Net Profit at Rs 510 crore versus poll Rs 490 crore

* Revenues at Rs 2338 crore versus poll Rs 2240 crore

* EBITDA at Rs 716 crore versus poll Rs 670 crore

* EBITDA Margin at 30.6% versus poll 30.0%

(Numbers seen marginally better than estimates)

NIFTYBANK, MIDCPNIFTY, and FINNIFTY Weekly Expiration will be discontinued from November 20 and now this INDEX will have only MONTHLY expiration.

✅NIFTY Weekly/Monthly Expiration will continue as usual.

👉BANK NIFTY Weekly Expiration LAST DATE/Contract: 13/11/2024

👉MIDCP NIFTY Weekly Expiration LAST DATE/Contract: 18/11/2024

👉FIN NIFTY Weekly Expiration LAST DATE/Contract: 19/11/2024

📣LOT SIZE CHANGE:

🟠NIFTY:

Currently LOT SIZE:25

New LOT SIZE:75

🟡BANKNIFTY:

Current LOT SIZE:15

New LOT SIZE:30

🟤FINNIFTY:

Current LOT SIZE:25

New LOT SIZE:65

🟣MIDCPNIFTY:

Current LOT SIZE:50

New LOT SIZE:120

🟠NIFTYNXT50

Current LOT SIZE:10

New LOT SIZE:25

📢(1)BSE SENSEX:

🔷Current LOT SIZE:10

🔶New LOT SIZE:20

📢(2)BSE BANKEX:

🔷Current LOT SIZE:15

🔶New LOT SIZE:30

📢(3)BSE SENSEX 50:

🔷Current LOT SIZE:25

🔶New LOT SIZE:60

👉MONTHLY : Currently MONTHLY CONTRACTS till JANUARY 2025 will remain as per old LOT SIZE.

👉WEEKLY : After 20 November 2024 all newly generated CONTRACTS will be as per new LOT SIZE. (From 10 JANUARY 2025 WEEKLY CONTRACTS will be as per new LOT SIZE.)

Weekly snapshot: In the wake of mixed Q2 earnings and selling from foreign institutions, Indian equity benchmarks closed in the red zone during the week. 

Indices Performance: Nifty 50 has closed with a loss of 0.78 percent while Nifty Bank performed inline and closed with a loss of 0.22 percent.

Weekly Fund-flow Activities: During the week, FIIs have sold equities worth of Rs 19637.6 cr while DIIs have bought equities of Rs 14391.5 cr in cash segment.

Macro Data: U.S. CPI Inflation, speech of Federal Reserve Chairman, Indian retail Inflation, and Chinese industrial production data are among the major macroeconomic events scheduled for the upcoming week. 

Weekly Outlook: During the coming week, market participants are expected to remain focused on institutional activities, global market volatility and quarterly earnings from the major corporates.

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

Recent Interview...

As of 19:01 PM Friday 08 November 2024

Carysil Ltd: Chirag Parekh, CMD

Will Do Sales Of ? 850 Cr This Year Against ?1,000 Cr Guided Earlier: Carysil

https://www.youtube.com/watch?v=RfAWQItFZ18

Alembic Pharma: Pranav Amin, MD

Pricing Pressure In API Biz To Last For Two More Quarters: Alembic Pharma

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

Alembic Pharma: Shaunak Amin, Amin

Alembic Pharma Weak Q2: ‘Price Optimisation & High Base Have Impacted Growth’, Shaunak Amin Explains

https://www.youtube.com/watch?v=r9SP6S0YJIo

Caplin Point Lab: Vivek Siddharth, COO

Oncology Biz Will Remain Value Accretive: Caplin Point Labs

https://www.youtube.com/watch?v=-GV8q6WO238

Emami: NH Bhansali, CFO

Expect Some Margin Expansion Even After Promotion Spends: Emami

https://www.youtube.com/watch?v=5ipGngLZ7Ts

Escorts: Bharat Madan, Group CFO

Expect Combined Market Share To Be At 12-12.5% By The End Of This Fiscal: Escorts Kubota

https://www.youtube.com/watch?v=jM5DuF1MASo

GE Shipping: G Shivakumar, ED & CFO

Easing Russia-Ukraine Tensions Should Have A Positive Impact On Shipping Rates: GE Shipping

https://www.youtube.com/watch?v=8jvenzMMazE

Indian Hotels: Puneet Chhatwal, MD

We Are Targeting 40% Margins In FY25 Backed By Strong H2: Indian Hotels Company

https://www.youtube.com/watch?v=EAChjl0Kncc

Indian Metals: Subhrakant Panda, MD

Topline Will Cool Off In Q3 But EBITDA Levels Will Be Sustained: IMFA

https://www.youtube.com/watch?v=LjWphxOAY0s

Indigo Paint: Hemant Jalan, CMD

Kerala Bounced Back In Q2 For The Company But The Industry Is Still Under Stress: Indigo Paints

https://www.youtube.com/watch?v=arFGpjQD16s

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

China unveiled a much-anticipated 10 trillion yuan ($1.4 trillion) program to refinance local governments, and investors weren’t impressed. Stock index futures fell and the yuan weakened following the late afternoon announcement, while oil and iron ore prices also declined. The plan to defuse local government debt, long considered a time bomb in the Chinese financial system, came after a week-long meeting of the country’s top legislators. Investors had hoped the high-level gathering would also roll out potent fiscal spending to counter the threat of tariffs under a second Donald Trump presidency. Economists at Standard Chartered and Macquarie project China’s growth would suffer a hit of as much as two percentage points should Trump follow through on his campaign vow to raise tariffs on Chinese goods to 60%. Officials can expect continued pressure on them to step up support for the economy in the months ahead. —Richard Frost

What You Need to Know Today

Companies are already moving production away from China on concern Trump will raise levies on imported goods. Shoe retailer Steven Madden aims to reduce goods manufactured in China by 40% within the next year, up from its prior target of a 10% reduction. Church & Dwight has already shifted some output from the country, such as its Waterpik oral-care business. “There are plans in place and actions that we’ve taken to mitigate that impact,” CFO Rick Dierker said last week in response to a question on tariffs. “Just like everybody, we’re well aware of implications there.” 

Cartier owner Richemont is the latest European luxury brand to see a hit from China’s downturn. The Swiss group reported a 12% drop in operating profit for the six months through September, with sales in China falling 27%. Chairman Johann Rupert said Chinese demand for pricey goods “will take longer to recover,” and is particularly hitting its watch brands. Richemont joins companies including LVMH and Kering in feeling the pinch from more cautious shoppers in China as a multi-year luxury boom ends.

Cartier owner Richemont posted a drop in sales in China. Photographer: Raul Ariano/Bloomberg

A plunge in the shares of Reliance Industries is underscoring investor concern that a slump in India’s previously red-hot equities market will deepen. The company controlled by billionaire Mukesh Ambani has lost almost $50 billion of market capitalization as the most valuable Indian firm struggles with weakening earnings and an economic slowdown. Sentiment toward Indian stocks has turned negative in recent weeks, with the value of equity cash trading touching the lowest level on Wednesday in almost a year.

The Biden administration is racing to complete Chips Act agreements with companies such as Intel and Samsung Electronics, aiming to shore up one of its signature initiatives before Trump enters the White House. While the Commerce Department has allocated more than 90% of the $39 billion in grants under the 2022 Chips and Science Act, a landmark law designed to rebuild the domestic chip industry, the agency has only announced one binding agreement so far. Announcements on a number of companies still in the process are said to be coming soon. - Bloomberg

Turnover: (NSE + BSE)

Cash Volume: 100043.17 + 6069.48 Total: 106112.65

F&O Volume: 455902.04 + 36083743.0 Total: 36539645.05

Provisional Cash

FII/FPI: NET SELL: -3404.04 

(9336.94 - 12740.98) 

DII: NET BUY: +1748.44 

(11246.96 - 9498.52)

Contract has been awarded to HAL for Avionics Upgrade of Dornier-228 Transport Aircraft, for enhancing IAF’s operational capability. (Supportive for HAL, however contract value not disclosed)

3MINDIA, 63MOONS, ALLCARGO, AMRUTANJAN, ASHOKA, ASTRAMICRO, AVL, BARBEQUE, BASF, BHAGCHEM, BOMDYEING, BOSCHLTD, CANTABIL, CESC, CELLO, CENTUM, CERA, CUPID, DCXINDIA, DIACABS, DHAMPURSUG, EIHOTEL, ELPROINTL, EMSLIMITED, ENTERO, EPACK, EVEREADY, EXCELINDUS, EXXARO, FILATEX, FINCABLES, GICRE, GANECOS, GIPCL, GSFC, GLOBUSSPR, GOKEX, GOKULAGRO, GREAVESCOT, HIKAL, HINDWAREAP, HNDFDS, HPL, HYUNDAI, INFIBEAM, INDOTECH, INGERRAND, IONEXCHANG, JYOTHYLAB, JAIBALAJI, KIRLOSENG, KNRCON, KOLTEPATIL, LUXIND, MANINDS, MANINFRA, MARKSANS, MEDPLUS, MINDACORP, MOTHERSON, NATCOPHARM, NEOGEN,NYKAA, PANAMAPET, PENIND, PNCINFRA, POKARNA, POLYPLEX, RPOWER, RTNINDIA, RISHABH, SULA, SUNTECK, SUNCLAY, SUVENPHAR, TECHNOE, TBOTEK, TIIL, VEEDOL, ZSARACOM ZYDUSLIFE

BOSCHLTD 

* Revenue expected at Rs 4460 crore versus Rs 4130 crore

* EBITDA expected to be seen at Rs 534 crore versus Rs 491 crore

* EBITDA margin expected to be seen at 11.97% versus 11.90%

* Net profit expected to be seen at Rs 506 crore versus Rs 213 crore

AHL, AWFIS, AZAD, BAJAJCON, BALRAMCHIN, BANKINDIA, BANSALWIRE, BEML, BFUTILITIE, BLS, BLUEDART, BORORENEW, BRITANNIA, CAMLINFINE, CAMPUS, DEVYANI, DOLLAR, ECOSMOBLTY, EIHAHOTELS, ELGIEQUIP, EMIL, EPL, GALAXYSURF, GATEWAY, GNFC, GODFRYPHLP, GOODLUCK, GRAPHITE, HARSHA, HINDALCO, HINDCOPPER, JUBLFOOD, MUNJALSHOW, NFL, ONGC, PGEL, PRECWIRE, RAMCOCEM, RAMCOIND, RATEGAIN, SALZERELEC, SHREECEM, SMLISUZU, SNOWMAN, TRITURBINE, TVSSCS, UPL, WAAREE, ZYDUSWELL 

BAJAJCON 

* Revenue expected at Rs 234 crore versus Rs 234 crore

* EBITDA expected to be seen at Rs 35 crore versus Rs 36 crore

* EBITDA margin expected to be seen at 14.96% versus 15.62%

* Net profit expected to be seen at Rs 35 crore versus Rs 37 crore

BALRAMCHIN 

* Revenue expected at Rs 1287 crore versus Rs 1539 crore

* EBITDA expected to be seen at Rs 122 crore versus Rs 164 crore

* EBITDA margin expected to be seen at 9.48% versus 10.71%

* Net profit expected to be seen at Rs 54 crore versus Rs 166 crore

BRITANNIA 

* Revenue expected at Rs 4738 crore versus Rs 4432 crore

* EBITDA expected to be seen at Rs 866 crore versus Rs 872 crore

* EBITDA margin expected to be seen at 18.28% versus 19.68%

* Net profit expected to be seen at Rs 616 crore versus Rs 587 crore

DEVYANI 

* Revenue expected at Rs 1220 crore versus Rs 819 crore

* EBITDA expected to be seen at Rs 201 crore versus Rs 154 crore

* EBITDA margin expected to be seen at 16.48% versus 18.84%

* Net profit expected to be seen at Rs 17 crore versus Rs 47 crore

HINDALCO 

* Revenue expected at Rs 56307 crore versus Rs 54169 crore

* EBITDA expected to be seen at Rs 7408 crore versus Rs 5612 crore

* EBITDA margin expected to be seen at 13.16% versus 10.36%

* Net profit expected to be seen at Rs 3525 crore versus Rs 2196 crore

JUBLFOOD 

* Revenue expected at Rs 1555 crore versus Rs 1368 crore

* EBITDA expected to be seen at Rs 298 crore versus Rs 277 crore

* EBITDA margin expected to be seen at 19.17% versus 20.25%

* Net profit expected to be seen at Rs 53 crore versus Rs 97 crore

ONGC 

* Revenue expected at Rs 172995 crore versus Rs 146873 crore

* EBITDA expected to be seen at Rs 25210 crore versus Rs 28255 crore

* EBITDA margin expected to be seen at 14.58% versus 19.24%

* Net profit expected to be seen at Rs 11460 crore versus Rs 13637 crore

RAMCOCEM 

* Revenue expected at Rs 2051 crore versus Rs 2329 crore

* EBITDA expected to be seen at Rs 253 crore versus Rs 398 crore

* EBITDA margin expected to be seen at 12.34% versus 17.08 %

* Net profit expected to be seen at Rs 3 crore versus Rs 101 crore

UPL 

* Revenue expected at Rs 10519 crore versus Rs 10170 crore

* EBITDA expected to be seen at Rs 1614 crore versus Rs 1325 crore

* EBITDA margin expected to be seen at 15.34% versus 13.03%

* Net profit expected to be seen at Rs 47 crore versus Rs -102 crore

The short-term outlook is bullish for Mahindra & Mahindra. The stock has surged over 5 per cent last week and has closed on a strong note. This rise has taken the share price well above a key resistance level of ₹2,900. The price action last week indicates that the stock has got strong buyers in the ₹2,900-₹2,850 region. This zone will continue to act as a good support and limit the downside going forward. Mahindra & Mahindra share price can rise to ₹3,200 in the coming weeks.