Stock Market Live Updates: Sensex, Nifty tumble on weak global cues; Adani Green dips after firm calls off dollar bond sale

Sensex declined 318.76 pts or 0.39% to close at 81,501.36, and Nifty 50 ended at 24,971.30, lower by 86.05 pts or 0.34%.

Manorama Industries informed that a wholly-owned subsidiary has been incorporated with the name “MANORAMA AFRICA BENIN” 

Shares close flat on the NSE at ₹920

TIPS Music Ltd, formerly known as Tips Industries Ltd, at its board meeting held today, declared a second interim dividend and appointed a new independent director.

Shares of PVR Inox Ltd declined over 2 per cent in early trade on Wednesday as it recorded a consolidated net loss of ₹12.1 crore in Q2 FY25 against net profit of ₹166.2 crore in the corresponding quarter last year.

Despite the loss, brokerages are positive as PVR Inox’s Q2 revenue and EBITDA were ahead of street estimates. Global brokerage CLSA has maintained an outperform rating on the stock and has increased the target price to ₹2,450 apiece. 

Read more here.

Top Gainers:

HDFC Life (1.95%), Dr Reddy’s Lab (1.41%), Grasim (1.30%) , Bharti Airtel (1.16%), Hindalco (0.83%)

Top losers:

Trent (-3.76%), M&M(-2.65%), Hero Motocorp (-1.93%), Infosys (-1.73%), Titan (-1.39%)

Stocks advanced on BSE at 3 pm on October 16, 2024, were 1,920 against 2,003 stocks that declined, and 112 remained unchanged. Total stocks traded were 4,035. The number of stocks that recorded a 52-week high was 257, and those that hit a 52-week low was 31. A total of 342 stocks traded in the upper circuit, and 224 in the lower circuit.

Aditya Birla Sun Life AMC (10.36%), UTI AMC (7.46%), HDFC AMC (6.42%), Nuvama (4.71%), NAM-India (3.28%)

H.G. Infra Engineering Limited has incorporated a wholly owned subsidiary company namely “H.G. Narol Sarkhej Highway Private Limited” to undertake a project awarded by Ministry of Road Transport and Highways (MoRTH).

HG Infra shares trade flat on the NSE at ₹1,475.

​Shilpa Medicare​ announced that One of SML’s, NASDAQ listed US based, CDMO customers has announced that its investigational drug candidate for treatment of Glioblastoma (GBM) has been granted Fast Track Designation by the USFDA.

Shilpa Medicare stock rose 1.10% on the NSE to ₹895.50

Shares of Coforge shed 3%, trading at ₹7,239.05. Company’s shares report a surge in trade volumes 41.61 times on Wednesday. Share price touched the 52-week high of ₹7,580 on Tuesday.

Tips Music Limited has declared Interim Dividend of ₹2 per equity share

Company recorded its net profit for the quarter ended Sept 2024 at ₹48.16 crore as against ₹39.64 crore in the corresponding quarter last year.

Shares trade 4.64% lower on the NSE at ₹791.20

UGRO Capital, a leading DataTech NBFC focused on MSME lending, today announced a significant milestone in its mission to bridge the credit gap in India’s MSME sector. 

The Company signed a commitment letter with the United States International Development Finance Corporation (DFC) for a $40 million (approx. ₹3300 million) loan. The United States Agency for International Development (USAID) is supporting this transaction by committing its staff resources and linking its technical programs to support inclusive and sustainable economic growth. 

This investment marks a critical step in UGRO Capital’s journey to empower small businesses at the grassroots level and deepen financial inclusion across the country.

Waaree Energies IPO: Price Band fixed at ₹1,427 to ₹1,503 per equity share of the face value of ₹ 10 each 

Anchor Investor Bidding Date – Friday, October 18, 2024 

Bid /Offer Opening Date – Monday, October 21, 2024, and Bid/ Offer Closing Date – Wednesday, October 23, 2024

Bids can be made for a minimum of 9 Equity Shares and in multiples of 9 Equity Shares thereafter

Shyam Century Ferrous informed that Meghalaya State Pollution Control Board (MSPCB) has revoked its closure direction and the company will resume operations at its plant shortly. 

Shyam Century Ferrous stock trades flat on the NSE at ₹18.03

Dynacons has successfully attained the ISACA’s Capability Maturity Model Integration (CMMI)-SVC V3.0 Maturity Level 5 appraisal. CMMI is a process improvement approach that provides organization with the essential elements of effective processes that ultimately improve their performance.

Tembo Global Industries has secured its first Power Purchase Agreement (PPA) with the Maharashtra state government for a 124 MW solar power project, valued at approximately ₹595 Cr. The project, aimed at boosting the company’s commitment to sustainable energy, is expected to be completed within 18 months, with the PPA extending for 25 years post-completion. 

This marks the company’s strategic expansion into renewable energy, complementing its expertise in sectors like oil, gas, chemicals, and construction to meet growing clean energy demands.

TD Power Systems has secured two large orders worth ₹142 crore from major international gas engine Original Equipment Manufacturers (OEMs) for gas engine generators, reflecting strong demand in the grid stabilization, base load power, and data center segments. The orders, intended for export markets, will be delivered partly this financial year and partly the next, with more orders expected in the coming quarters.

For the half year ending Sep-24, Sales up 2x YoY from ₹210 Cr in Sep-23 to ₹426 Cr in Sep-24. Similarly, Net Profit up 2.1x from ₹7.0 Cr to ₹14.6 Cr. On a HoH basis, Sales up 46% and Net Profit up 62%.

Nupur Recyclers Limited (NRL) announced today its expansion into aluminium extrusion manufacturing through a ₹180 million investment in its subsidiary, Nupur Extrusion Private Limited. The move aims to capitalise on the growing demand for recycled materials in the solar energy and construction sectors.

The shares of Nupur Recyclers Limited (NRL) were trading at ₹137.63, down by ₹1.09 or 0.79 per cent, on the NSE today at 1.05 pm.

Read more here.

Sudarshan Chemical Industries (SCIL) is the country’s largest and the world’s third-largest colour pigment manufacturer, with a market cap of around ₹7,500 crore. On Oct 11, SCIL announced a definitive agreement to acquire the second-largest pigment manufacturer, Germany-based Heubach Group, at a highly discounted valuation.

The target company reported revenues of EUR 878 million for CY23 (three times SCIL’s revenues), and the cash consideration for the acquisition is EUR 127.5 million or ₹1,180 crore.

Read more here.

Amidst Geopolitical Uncertainty stated that NIFTY is currently trading at 19.4x, 1-year forward EPS, representing a 1.6% premium over its 15-year average PE of 19.1x. In the Base Case, PL Capital values NIFTY at its 15-year average PE of 19.1x, using a Sept 2026 EPS estimate of 1459, resulting in a 12-month target of 27,867 (previously 26,820). In the Bull Case, PL Capital applies a 5% premium to the 15-year average PE, valuing NIFTY at 20x, leading to a bull case target of 29,260 (previously 28,564). In the Bear Case, NIFTY could trade at a 10% discount to its long-term average, with a target of 25,080 (previously 24,407).

Capital Goods, Infrastructure, Ports, EMS, Hospitals, Tourism, New Energy, E-commerce, and Telecom are emerging sectors to watch out, provided they are available at the right valuations. PL Capital believes that the market and street estimates are already priced in a strong demand rebound during the upcoming festival and wedding seasons and any disappointment in demand during this period could lead to further downward revisions in EPS estimates.

NIFTY EEPS has been revised down by 3.8% and 2.8% for FY25 and FY26, respectively, while the company introduces FY27 EPS projections. PL Capital anticipates an EPS CAGR of 15% over FY24-27, with expected EPS values of Rs 1,200, Rs 1,371, and Rs 1,546 for FY25, FY26, and FY27.

Billionaire Gautam Adani’s conglomerate postponed a dollar bond offering at the last minute after some investors pushed back on the pricing, in a rare instance of a borrower delaying a deal in the final stages of marketing.

Units of Adani Green Energy Ltd., the group’s clean-energy business, had reached what’s called “final price guidance” on an offering of a 20-year green note Tuesday, with the bond set to yield 7 per cent, according to a person familiar with the matter who asked not to be identified. But just hours later, the person said the proposed deal would no longer go ahead.

Read more here.

Indian equity markets traded lower during mid-day trading on Wednesday, with the benchmark BSE Sensex falling 398.60 points or 0.49 per cent to 81,421.52 at 12:33 PM. The broader NSE Nifty declined 118.75 points or 0.47 per cent to 24,938.60.

The market weakness followed a broader global selloff in technology stocks, particularly after disappointing results from European semiconductor manufacturer ASML and concerns over chip sales restrictions affecting companies like Nvidia.

Read more here.

Zinc prices have been oscillating in a range for more than two weeks now. The Zinc Futures contract on the Multi Commodity Exchange (MCX) has been trading in a range of ₹274-₹292 per kg for more than two weeks now. Within this range, the price has been coming down now. 

The contract is currently trading at ₹283 per kg.

Read more here.

“SEAMEC GLORIOUS” has commenced its 2nd fair weather season jobs for ONGC in Western offshore with effect from 16th October 2024. Seamec shares were down 2.52% on the NSE to ₹1,385.

Top gainers:

HDFC Life (2.20%), Grasim (1.22%), HDFC Bank (1.13%), Bajaj Auto (1.03%), Dr Reddy’s Lab (1.01%)

Top losers:

Trent (-3.30%), M&M (-2.92%), Nestle India (-1.97%), Hero Motocorp (-1.74%), Titan (-1.53%)

Stocks advanced on BSE at 12 noon on October 16, 2024, were 1,744 against 2,023 stocks that declined, and 139 remained unchanged. Total stocks traded were 3,906. The number of stocks that recorded a 52-week high was 230, and those that hit a 52-week low was 25. A total of 279 stocks traded in the upper circuit, and 182 in the lower circuit.

The shares of BEML were trading at ₹3,890.85, up by ₹169.35 or 4.55 per cent on the NSE today at 11 am., a day after BEML Limited, a defence ministry PSU, has announced that it has secured a ₹866.87 crore contract from Integral Coach Factory (ICF) Chennai to design and manufacture India’s first indigenous high-speed trainsets.

Route – Tender

Buyback Price: 1,025/-

Current Market Price: 805.90/-

Market Cap: Rs 1,794 Crores

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

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

Retail Quota: 1,05,366 Shares

Last Cum Trading Date: 24 Oct 2024

Ex-Date: 25 Oct 2024

Buyback Record Date: 25 Oct 2024

Buyback Schedule: Not Yet Announced

Aditya Birla Sun Life SMC shares jump 9.13% on the NSE to ₹762.05. The AMC plans to raise ₹2,500 crore through launch of ABSL Structured Opportunities Fund Series-2 in alternate investment space.

** Nifty Realty Index has corrected 10% since its peak in Jun’24 on outlook concerns as housing sales declined in Q3CY24, launches saw price cuts with paltry sellouts

** However, the recovery in both launches and absorption in Sep’24 underpins our confidence in demand holding up. 

** Industry fundamentals continue to remain strong with low inventory overhang and gradual price hikes. While pace of absorption is down especially in luxury segment and supply is increasing, we believe it will be a good enabler for growth. Thus we expect industry volumes to increase by 5-10% over next two-to-three years

** Further, market diversification will be on full steam over the next two years, leading to higher-than-industry growth for listed players. 

** With healthy balance sheets (leverage of 0.2x of equity for the Top 15 players) and improving cash flows, they continue to explore opportunity-driven growth and are well placed to face any demand slowdown.

** It all boils down to the intent and capacity of developers to consolidate growth opportunities, and to how much of that is already in the valuations. 

** The tripling of the Nifty Realty Index since Jan’20 (see Exhibit 15) indicates it has not yet fully baked in the pre-sales growth for the same period. 

** We believe the recent 10% correction since peak in Jun’24 is a good entry opportunity at the onset of the seasonally strong H2

We upgrade DLF/ LODHA/GPL/BRGD to BUY; reiterate BUY on SRIN/RUSTOMJE, REDUCE on OBER. TOP PICKS - GPL, Rustomjee & SRIN

Founded in 1990, Waaree Energies is India’s largest manufacturer and exporter of solar modules. Over FY20-24, its installed capacity has zoomed 6x to 13.3GW, by far the highest amongst its peers, transpiring into a respectable 21% share of domestic market (as per ALMM) and a healthy 44% share in exports of solar modules from India.

- WEL is setting up a 11.4GW integrated manufacturing facility (5.4GW solar cell in FY25E and 6GW fully integrated manufacturing facility to produce ingots, wafers, and solar cells by FY27E). This integration will aid in operational efficiencies, reduce costs and the dependence on external suppliers. WEL is on track to expand its capacity to 20.9GW by FY27E, including the development of the US manufacturing facility with an initial capacity of 1.6GW, scalable up to 5GW by FY27E.

- With solar energy emerging as a key global theme in the transition to renewable energy, WEL is best placed to capitalize on the growing opportunity given its leading market share, strong financials, and continued focus on innovation and sustainability. 

- The co. has witnessed a robust 80%/154%/204% CAGR in revenue/EBITDA/PAT over FY21-24. Further, with superior profitability, efficient capital allocation, limited equity dilution in the past, low leverage (D/E at a mere 0.08x), RoE / RoCE have remained industry-best. SUBSCRIBE

IPO details: Fresh Issue of shares amounting to INR 36bn; Offer for Sale : 4.8mn shares

Link to IPO note: https://bit.ly/WaareeIPONote

Hyundai Motor India IPO has been subscribed 0.22 times as of 11.18 am on October 16, 2024. The QIB portion has been subscribed 0.05 times, NII portion 0.17 times, retail 0.32 times, and those reserved for employees 1.08 times. The issue closes tomorrow.

Akums Drugs and Pharmaceuticals Limited has entered into a License & Distribution Agreement with Triple Hair Inc, a company duly incorporated under the laws of New Brunswick, Canada, having its registered office at 5085 Principale-Est Av, Dieppe, New Brunswick, Canada. 

Shares climbed 5% on the NSE to ₹924.60.

Nifty 50 is stuck inside a range over the last few days. The range of trade has been 24,900-25,250. Within this range, the index is currently at 25,036, down about 0.1 per cent. The advances/declines ratio is at 22:28. This could keep the bias negative for the day.

Two wholly-owned subsidiaries (Jam Khambhaliya Transmission, and South Olpad Transmission) of PFC Consulting Ltd, a subsidiary of Power Finance Corporation, have been transferred to Power Grid Corporation of India.

Power Finance Corporation stock trades flat on the NSE at ₹477.45. Power Grid shares inched up 0.68% on the NSE to ₹332.10.

Jindal Drilling & Industries informed the exchanges that Rig ‘Jindal Supreme’ owned by the Company has commenced operations with Oil and Natural Gas Corporation Limited (ONGC) for a period of three years at Effective Day Rate (EDR) of USD 86,327.

Jindal Drilling & Industries stock jumps 5.23% on the BSE to ₹633.

The rupee witnessed range-bound trade and depreciated 3 paise to 84.07 against the US dollar in initial deals on Wednesday, weighed down by significant foreign fund outflows and the strength of the American currency in the overseas market.

Forex traders said the rupee is likely to trade in a narrow range during the day as strong dollar and a muted tone in the domestic equities weighed on the local unit, while weak crude oil prices and any intervention by the Reserve Bank of India (RBI) may also support the local currency at lower levels.

Crude oil futures traded higher on Wednesday morning as the market remained uncertain about developments in West Asia. Crude oil prices witnessed a fall of more than 4 per cent in Tuesday’s session.

At 9.56 am on Wednesday, December Brent oil futures were at $74.47, up by 0.30 per cent, and November crude oil futures on WTI (West Texas Intermediate) were at $70.83, up by 0.35 per cent.

Larsen & Toubro Limited has secured a significant order (worth ₹1,000-2,500 crore) from Uttar Pradesh Metro Rail Corporation Ltd (UPMRCL) for the design and construction of Agra Metro Phase 1, Line-2. The stretch will run from Agra Cantonment to Kalindi Vihar.

Shares trade flat on the NSE at ₹3,556.85

RateGain Travel Technologies Limited announced a technology integration with TCA Software Solutions, a leading provider of Property Management Systems (PMS) for the hospitality industry.

RateGain shares rise 1.06% on the NSE to ₹737.

The stock of Northern Arc Capital Limited (NACL) listed recently. Post listing at a 33 per cent premium to the issue price of ₹263 per share, the stock has corrected since and now trades at ₹274.7. This is despite the significant demand for the IPO with the issue getting subscribed 117 times.

OneSource Specialty Pharma Limited, a subsidiary of Strides Pharma Science Limited, has secured equity commitments worth ₹80.10 crore ($95 million) from several prominent investors at a pre-money valuation of $1.65 billion. The funding round was announced today and is being led by HBM Healthcare Investments along with investors including WhiteOak Capital, Param Capital, Motilal Oswal, Enam Holdings, and SBI Life Insurance.

BSE shares plunged 6% in early trade on Wednesday as Jefferies downgraded the stock. Catch the live active action here.

Indian equity markets opened lower on Wednesday, mirroring losses in global markets triggered by a selloff in technology stocks.

The benchmark Sensex opened at 81,646.60, down from its previous close of 81,820.12, while the Nifty50 began trading at 25,008.55, below Tuesday’s closing of 25,057.35.

1. GNFC
2. Granules
3. HindCopper
4. IDFC First Bank
5. Manappuram
6. PNB
7. RBL Bank
8. SAIL
9. Chambal Fertilizers
10. IEX
11. National Aluminium
12. Tata Chemicals
13. Bandhan Bank
14. LTF

Addition: Bandhan Bank, LTF Deletion: Nil

ACCELYA

Quarterly Results

ADTYFRG

Quarterly Results;General

BAJAJ-AUTO

Quarterly Results

BIRLAMONEY

Audited Results; Quarterly Results

BLUECLOUDS

Stock Split

CIL

Quarterly Results

CITL

Stock Split;Bonus issue;General;Increase in Authorised Capital

CRISIL

Interim Dividend;Quarterly Results;General

GROWINGTON

General

HITECHWIND

Quarterly Results

HSCL

Quarterly Results

INDLEASE

General 

LTTS

Interim Dividend;Quarterly Results

MOTOGENFIN

General

MPHASIS

Audited Results;Quarterly Results

PASARI

A.G.M.;Quarterly Results

POCL

Quarterly Results

PROFINC

General 

SAINDUS

Quarterly Results 

SCBL

Quarterly Results

SHAH

Quarterly Results;General

SOUTHBANK

Quarterly Results 

SWORDEDGE

General 

VIVIDM

Quarterly Results

NRBBEARING

Interim Dividend - Rs. - 2.5000

PADAMCO

E.G.M. 

POCL

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

TV18BRDCST

Amalgamation 

GIFT Nifty -80 pts (25050) from last trade 25130,

Nikkei -717 pts, 

Hangseng -174 pts, 

Now @6.52am . 

Dow -324.80 pts ,Nsdq -187.10 pts, S&P 

-44.59 pts , Bovespa +36 pts , Ftse -43 pts , Dax -22 pts , Cac -80 pts , Crude @ $70.89 brl (+0.39), Brent @ $74.54 brl (+0.29) , Gold @ 2575.60 (-3.30), Silver $31.635 (-0.12), Euro @ $1.0885, JPY @ $149.28, INR @ 84.055

Wockhardt announced the filing of its fast-acting insulin analog, Aspart injection (ASPARAPIDTM), with the Drugs Controller General of India (DCGI).

Stock trades flat on the NSE at ₹1,090.

Godrej Properties Ltd. has emerged as the highest bidder to develop a group housing project at a premium location in Sector 5-A, Kharghar according to e-auction portal of City and Industrial Development Corporation of Maharashtra (CIDCO).

Stock trades flat on the NSE at ₹3,154.35

Wednesday, 16 October, 2024 (Today)

Derivative Segment

• Bajaj Auto Ltd

• LTTS Ltd

• Mphasis Ltd

Cash Segment

• CRISIL Ltd.

• Himadri Speciality Ltd.

Thursday, 17 October, 2024

Derivative Segment

• Havells Ltd

• Infosys Ltd

• Nestle Ltd

• Polycab Ltd

• Wipro Ltd

• Axis Bank Ltd

• LTIMindtree Ltd

• Tata Comm Ltd

• Tata Chemicals Ltd

Cash Segment

• Ceat Ltd.

• Central Bank Of India

• IOB

• Jindal Stainless Ltd.

• Tanla Ltd.

Friday, 18 October, 2024

Derivative Segment

• ICICI Lombard Ltd

• L&T Fin Ltd

• Oberoi Realty Ltd

• Tata Consumer Ltd

Cash Segment

• Aether Industries Ltd.

• Jindal Saw Ltd.

• JIO Financial Ltd.

• Mastek Ltd.

• Mangalore R&P Ltd.

• Tejas Networks Ltd.

• Zee Ent Ltd.

Saturday, 19 October, 2024

Derivative Segment

• HDFC Ltd

• Tech M Ltd

• Dalmia Bharat Ltd

• Kotak Bank Ltd

• Indiamart Ltd

• MCX Ltd

• RBL Bank Ltd

Cash Segment

• GMDC Ltd.

Monday, 21 October, 2024

Derivative Segment

• UltraTech Ltd

Cash Segment

• Jana SFB Ltd.

• Maha Scooters Ltd.

• 360 One Wam Ltd.

• HFCL Ltd.

• Supreme Petrochem Ltd.

Tuesday, 22 October, 2024

Derivative Segment

• Bajaj Finance Ltd

• Coforge Ltd

• M&M Fin Ltd

• Max Fin Ltd

• Persistent Ltd

• ICICI Pru Ltd

• Indus Towers Ltd

Cash Segment

• Zensar Tech Ltd.

• Jubilant Ingrevia Ltd.

Wednesday, 23 October, 2024

Derivative Segment

• Bajaj Finserv Ltd

• Navin Fluorine Ltd

• Pidilite Ind Ltd

• Syngene Ltd

• Godrej Properties Ltd

• United Spirits Ltd

• AU SFB Ltd

• HINDUNILVR Ltd

Cash Segment

• Bajaj Holdings Ltd.

• KPIT Tech Ltd.

• Nuvoco Vistas Ltd.

• Schaeffler India Ltd.

• Sona BLW Ltd.

Thursday, 24 October, 2024

Derivative Segment

• United Breweries Ltd

• ITC Ltd

• Petronet LNG Ltd

Cash Segment

• Bikaji Foods Ltd.

• Castrol India Ltd.

• CIE Automotive Ltd.

• CSB Bank Ltd.

• Cyient Ltd.

• Nippon AMC Ltd.

• Ujjivan SFB Ltd.

• Westlife Foodworld Ltd

Friday, 25 October, 2024

Derivative Segment

• Atul Limited

• Chola Inv & Fin Ltd

• JSW Steel Ltd

• BEL Ltd

• HPCL

• Torrent Pharma Ltd

Cash Segment

• JM Financial Ltd.

• Mahindra Holidays Ltd.

• Mahindra Lifespace Ltd.

• Poonawalla Fin Ltd.

• UTI AMC Ltd.

• J&K Bank Ltd.

Saturday, 26 October, 2024

Derivative Segment

• ICICI Limited

• IDFC First Ltd

• JK Cement Ltd

Cash Segment

• Yes Bank Ltd.

Monday, 28 October, 2024

Derivative Segment

• Sun Pharma Ltd

• IOC Limited

Cash Segment

• CAMS Ltd.

• Gillette Ltd.

• Lakshmi Machine Ltd.

• Firstsource Solutions Ltd.

• Sumitomo Chemical Ltd.

• Tamilnad Mercantile Ltd.

Tuesday, 29 October, 2024

Derivative Segment

• Cipla Ltd

• Marico Ltd

• Container Corp Ltd

Cash Segment

• Honeywell Auto Ltd.

• Engineers India Ltd.

• Star Health Ltd.

Wednesday, 30 October, 2024

Derivative Segment

• Biocon Ltd

• Dabur Ltd

• Tata Power Ltd

• Aditya Birla Cap Ltd

Cash Segment

• P&G H&H Ltd.

• TTK Prestige Ltd.

Monday, 4 November, 2024

Derivative Segment

• ABB India Ltd

• Exide Ind Ltd

Cash Segment

• Amara Raja Ltd.

• P&G Health Ltd.

Tuesday, 5 November, 2024

Derivative Segment

• Berger Paints (I) Ltd

• Dr. Reddy’s Lab Ltd

Cash Segment

• Alkyl Amines Chemicals Ltd.

Wednesday, 6 November, 2024

Derivative Segment

• Gujarat Gas Ltd

Cash Segment

• Blue Star Ltd.

• Endurance Tech Ltd.

• Kansai Nerolac Ltd.

Thursday, 7 November, 2024

Derivative Segment

• Cummins Ltd

Cash Segment

• Indigo Paints Ltd.

• Akzo Nobel Ltd.

• NHPC Ltd.

• RHI Magnesita Ltd.

Friday, 8 November, 2024

Derivative Segment

• Tata Motors Ltd

Cash Segment

• Esab India Ltd.

• Latent View Ltd.

• Chola Fin Hold Ltd.

• Motherson Sumi Wiring Ltd.

Monday, 11 November, 2024

Derivative Segment

• Hindalco Ltd

• Shree Cement Ltd

Cash Segment

Nil

Tuesday, 12 November, 2024

Derivative Segment

• Bosch Ltd

Cash Segment

• BASF India Ltd.

• Suven Pharma Ltd.

• Medplus Health Ltd.

Thursday, 14 November, 2024

Derivative Segment

• Grasim Ind Ltd

Cash Segment

Nil

1-KEI IND

Sales growth 17%, PAT growth 10% YoY

EBITDA up 9%

2-RALLIS INDIA

Good numbers, revenue growth QoQ & YOY

Sales up 12% YoY, margins recovered

EPS growth 19% YoY

3-GR INFRA

The company has received Letter of Acceptance for the project “Construction of Access Controlled Pune Ring Road in Pune, worth Rs 1900 Cr

4-ASHOKA BUILDCON

Received LOA for BMC project worth Rs.1,126.58 Crore.

5-CEIGALL INDIA

India has been declared L1 bidder with a bid project cost of ₹207.00 crores with 18 Months of duration for completion

6-RAILTEL

RailTel secures Rs. 79.84 Cr order from MHADA.

7-CENTRAL BANK

CCI approves Central Bank’s asset sale of Future Enterprises

8-IOC/BPCL/HPCL/ONGC

Brent crude oil futures sank 5% below $74

9-BAJAJ AUTO/LTTS/MPHASIS

Results today

10-IT stocks i.e INFOSYS/TCS/HCL TECH/COFORGE

weak global demand

Researchbytes Analyst App 

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

Events Update

As of 09:20 AM Wednesday 16 October 2024

Can set alert for them at www.researchbytes.com 

11:30 AM Rallis

(Results, Investor/Analyst Presentation)

Dial: +91 22 6280 1141 

Weblink: https://tinyurl.com/yck3wx49

12:00 PM KEI Industries

Dial: + 91 22 6280 1455

Weblink: https://tinyurl.com/47nb9ucs

4:30 PM DB Corp

(Results, Press Release )

Dial: +91 22 6280 1256

Weblink: https://tinyurl.com/meatjh8r

5:00 PM L and T Technolog

(Press Release )

Dial: +91 22 6280 1176

Weblink: https://tinyurl.com/5xtpyew2

6:30 PM Bajaj Auto

Dial: +91 22 6280 1510

Weblink: https://tinyurl.com/3y8patzz

HDFC AMC : (replay)

https://www.researchbytes.com/webcast.aspx?WID=311393

Newgen Software Technolog : (replay)

https://www.researchbytes.com/webcast.aspx?WID=311385

Bank of Mah : (replay)

https://www.researchbytes.com/webcast.aspx?WID=311387

PVR : (replay)

https://www.researchbytes.com/webcast.aspx?WID=311384

HDFC life Insur : (replay)

https://www.researchbytes.com/webcast.aspx?WID=311386

Gopal Snacks : (replay)

https://www.researchbytes.com/webcast.aspx?WID=311374

Sterling and Wilson Renewable Energy : (replay)

https://www.researchbytes.com/webcast.aspx?WID=311325

HCL Tech : (replay)

https://www.researchbytes.com/webcast.aspx?WID=311316

EMERALD : (replay)

https://www.researchbytes.com/webcast.aspx?WID=311292

Anand Rathi Wealth : (replay)

https://www.researchbytes.com/webcast.aspx?WID=311283

Results today …

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Recent interviews …

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

Replays available at www.researchbytes.com

Downgrade to U-P, TP raised to Rs 3500

STK up >100% post SEBI’s new F&O framework 

Assuming 25% hit to overall mkt vols, BSE’s val (@P/E of 40x FY26E) implies its mkt share rising from 13% in 2Q to 30-35%; appears stretched 

See near-term risk-reward unfavorable

Nomura on Aditya Birla Real Estate (Century textile)

Initiate buy, TP Rs 3700

Expect pre-sales growth of +87% y-y / 33% y-y in FY25F/FY26F

RE segment to be OCF-positive from FY25F and FCF-positive from FY27-FY28F; net debt/ equity to peak at comfortable 1.1x (vs 0.5x in FY24)

Jefferies on BSE

Downgrade to U-P, TP raised to Rs 3500

STK up >100% post SEBI’s new F&O framework 

Assuming 25% hit to overall mkt vols, BSE’s val (@P/E of 40x FY26E) implies its mkt share rising from 13% in 2Q to 30-35%; appears stretched 

See near-term risk-reward unfavorable

HSBC on Bharti Airtel

Expect EBITDA/ EPS to rise at a CAGR 16%/ 78% respectively over FY24-27e driven by increase in mobile ARPU, robust growth in broadband subs and margin expansion

Expect capex intensity to decline, FCF to improve & net debt/EBITDA to decline to 1.5x by FY26e

HSBC on RIL

Think Jio (subsidiary of RIL) is better placed to capture home broadband opportunity given its 5G standalone network investments and rich content portfolio

Expect Jio to capture 45% market share in home broadband by FY30e (vs 28% as of FY24)

HSBC on Voda Idea

Maintain reduce due to rich valuation & high leverage (12x FY26e net debt/EBITDA).

Moreover, co is exposed to risk of further equity dilution if it is unable to pay all its statutory dues with its operating cash flows

HSBC on Avenue Supermart

Downgrade to hold, TP cut to Rs 4500

2Q sales slowed down to c14% yoy as rise of quick commerce weighed on growth in metro cities

Gross margin expanded 21bp yoy, but higher other expense led to EBITDA growth of 10% & PAT growth of 8% yoy

UBS on Zomato

Buy, TP Rs 320

Industry volumes down by 2.9% MoM in Sep’24 in line with seasonal trends

Zomato vs Swiggy: push and pull continued into Q2FY25

Estimate Zomato’s Q2FY25 GMV growth at 7% QoQ

HDFC Life Review

MS

OW, TP Rs 840

Management guided to 18-20% APE growth for year & 15- 17% VNB growth.

This would imply VNB margin expansion in 2HF25; 2QF25 margin was impacted by deferred re-pricing of non-par saving products, it said

Trim forecasts given lower VNB vs MSe

CLSA 

O-P, TP Raised to Rs 805

160bps YoY decline in VNB margins in 1HFY25 driven by a shift in product mix towards Ulips & deferment of repricing of non-par products in 2Q25 (which caused a drag of 30-40bps)

Co indicated 18-20% APE & 15-17% VNB growth for FY25

Jefferies

Buy, TP Raised to Rs 850

For Q2 VNB of Rs9.4bn, up 17% YoY, was largely in line with est.

VNB margin at 24% was tad weak as delayed yield-reset in NonPar segment impacted margin by 100bp; this should normalise from 3Q

CITI on HDFC AMC

Sell, TP Rs 3600

core PBT was +45% YoY (+2% above Citi).

Strong MTM-led AAUM growth (MF AAUM +45%/13% YoY/QoQ led by +63%/+15% YoY/QoQ rise in actively-managed equity-oriented AAUM) and sustained robust flows owing to strength in performance, were key drivers.

Jefferies on HDFC AMC

Buy, TP Rs 5450

Delivered strong 2Q PBT growth of 46% YoY as top-line (+38% YoY) gained from sustained momentum in equity QAAUM (+65% YoY) and uptick in yields (+1bp QoQ) due to rationalization of distribution commissions across major equity schemes

Top gainers:

HDFC Life (1.76%), BPCL (1.32%), SBI Life (1.25%), Asian Paints (0.67%), HDFC Bank (0.66%)

Top losers:

Trent (-1.84%). Nestle India (-1.76%), M&M (-1.61%), Ultratech Cement (-1.39%). TCS (-1%)

IndiGo will invest in travel technology startups with the Securities and Exchange Board of India (SEBI) giving it’s nod to the airline’s alternate investment fund.

“The fund will invest in startups that have the potential to redefine the future of aviation. These include startups working on cutting-edge technologies and solutions within the aviation sector. The fund will also look to invest in consumer startups that have a touchpoint in the passenger journey, such as travel, lifestyle, hospitality, transportation, etc,” the airline announced today.

Crude oil futures traded higher on Wednesday morning as the market remained uncertain about developments in West Asia. Crude oil prices witnessed a fall of more than 4 per cent in Tuesday’s session. At 9.21 am on Wednesday, December Brent oil futures were at $74.52, up by 0.36 per cent, and November crude oil futures on WTI (West Texas Intermediate) were at $70.80, up by 0.31 per cent. October crude oil futures were trading at ₹5960 on Multi Commodity Exchange (MCX) during the initial hour of trading on Wednesday against the previous close of ₹5923, up by 0.62 per cent, and November futures were trading at ₹5932 against the previous close of ₹5897, up by 0.59 per cent.

The mega IPO of Hyundai Motor India was subscribed 0.18 time or 18 per cent on Day 1. 

Hyundai Motor India’s mega IPO, part of Hyundai Motor Group, which opened on Tuesday will close on Thursday. The initial public offering, entirely an offer for sale by up to 14.22 crore shares by Hyundai Motor Company, of ₹27,870 crore (at the upper end), is the largest-ever in the Indian primary market.

Gold prices continue to trade in a narrow range, extending recent losses as strength in the dollar, on expectations of smaller interest rate cuts. Dollar index has been holding firm above 103 reversing from the recent lows of ~101.30, capping gains for metals on higher side. Mixed comments from Fed officials is also keeping market participants on edge. Governor Christopher Waller said he supported a cautious stance towards reducing rates further in the coming months, citing recent signs of resilience in the U.S. economy and sticky inflation. 

Atlanta Fed President Raphael Bostic said he penciled in just one more 25 bps rate reduction this year, while San Francisco Fed president mentioned that the Fed remains on track for more rate cuts this year. U.S. central bank meeting, Traders were seen pricing in an over 80% chance the Fed will cut rates by 25 basis points in November, smaller than the bank’s 50 bps cut in September, CME Fed-watch showed. Traders were also seen positioning for a higher terminal rate for the Fed. New York Oct Empire State manufacturing index tumbled to -11.9 against the estimates to 3.4 and previous month of 11.5, lowest since May 2024, supporting gains for bullions. Focus this week will be on US Retail Sales, IIP and China GDP data.

Initiate buy, TP Rs 3700

Expect pre-sales growth of +87% y-y / 33% y-y in FY25F/FY26F

RE segment to be OCF-positive from FY25F and FCF-positive from FY27-FY28F; net debt/ equity to peak at comfortable 1.1x (vs 0.5x in FY24)

Madhuveer Com 18 Network Ltd

Dividend Per Share Rs.0.05

Previous day Closing Price – Rs. 132

Ex-Dividend 17 Oct 2024 (Tomorrow)

Last date for Cum-Dividend Today

Harshil Agrotech Ltd

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

Previous day Closing Price – Rs. 94.7

Ex-Split 17 Oct 2024 (Tomorrow)

Last date for Cum-Split Today

Issue Period:- 16- October-24 to 17- October -24

For Non- Retail ( QIB +HNI ) open & close date - 16- October-24 (Today) 

For Retail open & close date – 17- October -24

Floor Price: INR “1540.00”

Closing Price on date of announcement: Rs. 1672.00

Current Market Price: 1672.00

Base Issue size: 0.66 Crs Shares – 2.50% of O/S Capital

Green Shoe Issue size: 0.66 Crs Shares – 2.50% of O/S Capital

Total Issue Size: 1.32 Crs equity shares (INR 2026 Cr) – 5.00% of O/s Capital

Non-Retail Portion (QIB + HNI) - 90% of Offer Size - Bidding on 16- October-24 (Today) 

Total Issue Size: 1.18 Crs shares (INR 1823.15 Cr)

Retail Portion - 10% of Offer Size - Bidding on 17- October -24

Total Issue Size: 0.13 Crs equity shares (INR 202.57 Cr)

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

Domestic markets are likely to open in flat note with negative bias. As there is no major trigger for the market, stock-specific action will continue due to result season, said analysts. Among the big companies, Bajaj Auto and L&T Technology Services will declare their results for September quarter today.

The initial public offering of Ahmedabad-based Lakshya Powertech opens today for subscription and will close on October 18. The company has fixed the price band as ₹171-₹180 a share of face value ₹10 each.

The issue size is ₹49.91 cr and the lot size is 800 equity shares.

On October 16, the People’s Bank of China (PBoC) injected CNY 642.4 billion in seven-day reverse repos. However, with CNY 789 billion in MLF loans and an additional CNY 61 billion in reverse repo loans set to expire on October 17, there was a net cash withdrawal of CNY 207.6 billion that day. Wednesday’s operation was designed to offset the impact of maturing MLF and reverse repo loans, as the central bank sought to keep liquidity in the banking system at a manageable level.

The Rupee is expected to remain range-bound at 83.9-84.1/US Dollar this month, with a depreciating bias: Bank of Baroda economic research. It depreciated by 0.3% in the first fortnight of October 2024.

HSBC on Bharti Airtel: Upgrade to Buy on Company, raise target price at Rs 1950/Sh (Positive)

CLSA on HDFC Life: Maintain Buy on Company, raise target price at Rs 805/Sh (Positive)

Jefferies on HDFC Life: Maintain Buy on Company, raise target price at Rs 850/Sh (Positive)

Investec on HDFC Life: Maintain Buy on Company, raise target price at Rs 850/Sh (Positive)

BofA on PVR: Maintain Buy on Company, raise target price at Rs 1860/Sh (Positive)

CLSA on PVR: Maintain Outperform on Company, raise target price at Rs 2450/Sh (Positive)

Jefferies on Newgen: Maintain Buy on Company, raise target price at Rs 1500/Sh (Positive)

Jefferies on HDFC AMC: Maintain Buy on Company, target price at Rs 5450/Sh (Positive)

CLSA on HDFC AMC: Upgrade to Outperform on Company, target price at Rs 4920/Sh (Positive)

Nomura on Century Tex: Initiate Buy on Company, raise target price at Rs 3700/Sh (Positive)

Citi on Prudent: Initiate Buy on Company, target price at Rs 3050/Sh (Positive)

HSBC on Vodafone Idea: Maintain Reduce on Company, target price at Rs 7.1/Sh (Neutral)

HSBC on Reliance Ind: Maintain Neutral on Company, target price at Rs 3010/Sh (Neutral)

MS on HDFC AMC: Maintain Equal weight on Company, target price at Rs 4120/Sh (Neutral)

Nomura on HDFC Life: Downgrade to Neutral on Company, target price at Rs 735/Sh (Negative)

Jefferies on BSE: Downgrade to Underperform on Company, target price at Rs 3500/Sh (Negative)

NSE’s index services subsidiary, NSE Indices Limited today launched a new standard index – Nifty Top 15 Equal Weight.

The Nifty Top 15 Equal Weight aims to track the performance of top 15 companies selected based on free-float market capitalization from the Nifty 50.

All stocks in the index are equally weighted. The base date for the index is March 02, 2006, and the base value is 1000. The index is reconstituted on a semi-annual basis and weights are rebalanced on a quarterly basis.

The index is expected to act as a benchmark for asset managers and a reference index tracked by passive funds in the form of Exchange Traded Funds (ETFs), index funds and structured products.

CARE ESG Ratings Limited (CareEdge-ESG), a Securities & Exchange Board of India (SEBI)-registered ESG Rating Provider (ERP) and a wholly owned subsidiary of CARE Ratings Limited, achieved a significant landmark with the assignment of first Environment, Social and Governance (ESG) rating to ESAF Small Finance Bank Limited (ESAF).

ESAF is a scheduled Small Finance Bank that primarily provides loans to rural and semi-urban customers. ESAF has been assigned a rating of CareEdge-ESG 2[1] with an ESG score of 68.1. The bank’s ESG rating reflects its strong position in managing ESG risk though superior disclosures, policies, and performance. Please follow the link for detailed ESG rating rationale of ESAF.

* BANDHANBNK

* CHAMBLFERT

* GNFC

* GRANULES

* HINDCOPPER

* IDFCFIRSTB

* IEX

* LTF

* MANAPPURAM

* NATIONALUM

* PNB

* RBLBANK

* SAIL

* TATACHEM

GR Infraprojects: Company gets Letter of Acceptance worth ₹1,885.6 crore from Maharashtra State Road Development Corp 

PNC Infratech: Company bags order worth ₹4,630 crore for two projects from Maharashtra State Road Development Corporation

Ashoka Buildcon: Company wins Rs 1,126.58 Cr flyover project from BMC 

Bhageria Industries: Company gets LOA for solar power developer, LOA for solar photovoltaic power generating stations of capacity of 32 MW (AC) 

Ceigall India: Company emerged as L1 bidder for construction of 4 lane elevated road, Company declared L1 bidder with bid project cost of Rs 2.07 billion 

Alpex Solar: Company secures Rs 277.19 Cr order from leading PSU 

RailTel: Company secures Rs. 79.84 Cr order from MHADA. 

Rallis India: Net Profit at Rs 98 cr vs Net Profit Rs 82 cr (YoY) , Revenue at Rs 928 vs Rs 832 cr. (YoY). 

Capri Global Capital: Company enters green financing with rooftop solar finance, partners with credit fair as loan service providers aims to build a separate Rs 1000 Cr loan-book in coming years

Lactose: Net Profit at Rs 2.1 cr vs Net Profit Rs 0.80 cr (YoY) , Revenue at Rs 30 vs Rs 24 cr. (YoY)

Oil downstream stocks: Brent crude oil futures sank 5% below $74 

Power Finance Corp: Transfer of Jamnagar transmission, navinal transmission to Adani energy solutions, and sale of two units for Rs 192.8 million and Rs 191.4 million. 

KEI Industries: Net Profit at Rs 155 cr vs Net Profit Rs 140 cr (YoY) , Revenue at Rs 2280 vs Rs 1945 cr. (YoY).

SG Finserve: Net Profit at Rs 14.1 cr vs Net Profit Rs 17.5 cr (YoY) , Revenue at Rs 30.9 vs Rs 43.9 cr. (YoY)

Central Bank of India: India CCI approves the acquisition of 24.91% shareholding in future generali India insurance and 25.18% shareholding in future Generali India life insurance by central bank of India.

Power Grid Corp: Acquisition of ‘Rajasthan iv H1 power transmission’ by Company for Rs 188.1 million, Company says acquisition of south OLPAD transmission by co under TBCB route for Rs 188.4 million

Sterlite Technologies: Company announces significant investment of Rs 50 crore to establish a state-of-the-art fibre skilling training Centre in Telangana 

Madhya Bharat Agro: Net Profit at Rs 13.8 cr vs Net Profit Rs 14.9 cr (YoY) , Revenue at Rs 280 vs Rs 280 cr. (YoY) 

Krishana Phoschem: Net Profit at Rs 16.7 cr vs Net Profit Rs 19.3 cr (YoY) , Revenue at Rs 300 vs Rs 265 cr. (YoY)

Adani Enterprises: Closes QIP at ₹2,962 per Share, Offering 4.99% Discount to QIBs 

LTIMindtree: Company announces merger of subsidiaries, effective October 2, 2024, to enhance operational efficiency. 

ONGC: Boosts Stake in OPaL to 94.04% with ₹10,501 Crore Investment 

Adani Green Energy: Company defers $1.2 billion offering due to weak market conditions ahead of U.S. elections.

Tata Motors: Jaguar LandRover’s retail sales rise 36% year-on-year to 3,214 units for first six months of current fiscal. 

Cochin Shipyard: India government to sell up to 5% stake in cochin shipyard via offer for sale, floor price for India GOVT’s stake sale in cochin shipyard at Rs 1,540 rupees/share

Buzzing stocks: Bajaj Auto, Tata Power, Lupin, ONGC, Adani Energy Solutions, Power Grid, Central Bank of India, Cochin Shipyard, Kernex Microsystems, KEI Industries, PNC Infratech GR Infraprojects, Capri Global, RailTel, Aditya Birla Money, Crisil, Himadri Special, L&T Technology Services, Mphasis, South Indian Bank.

After three years of earnings deterioration, IPCA Laboratories is well-poised to deliver strong earnings growth over FY24-27.

With broad-based growth in volume and pricing, IPCA has been able to outperform the industry significantly in the domestic formulation (DF) market, with 15 per cent y-o-y growth in MAT Aug’24 and a 15 per cent CAGR in MAT Aug’21-24.

Tata Consultancy Services Limited (TCS) recorded revenue of ₹64,259 Crore, a growth of 7.6 per cent y-o-y The company recorded constant currency revenue growth of 5.5 per cent in Q2 FY25.

The EBIDTA and PAT for the current quarter was ₹16,731 crore and ₹11,955 crore respectively as compared ₹15,746 crore and ₹11,380 crore in the same quarter previous year an increase of 6.2% and 5.0% YoY basis, respectively. EBIDTAM and PATM in current

Financial Results

Link: https://www.bseindia.com/xml-data/corpfiling/AttachLive/32a05d2a-fbae-406b-a297-fbdcab11f80c.pdf

Press Release

Link: https://www.bseindia.com/xml-data/corpfiling/AttachLive/03924f15-8fcc-494f-9ef7-ffb816aedd81.pdf

Presentation

Link: https://www.bseindia.com/xml-data/corpfiling/AttachLive/2aa3e9d0-8529-434f-bff7-674fb02a19d3.pdf

Turnover: (NSE + BSE)

Cash Volume: 103530.06 + 5993.8 Total: 109523.86

F&O Volume: 484210.23 + 288648.7 Total: 772858.93

Provisional Cash

FII/FPI: NET SELL: -1748.71 

(16097.89 - 17846.6) 

DII: NET BUY: +1654.96 

(13229.43 - 11574.47)

AXISBANK, CEATLTD, CENTRALBK, HAVELLS, INFY, IOB, JSL, LTIM, NESTLEIND, POLYCAB, QUICKHEAL, TANLA, TATACHEM, TATACOMM, WIPRO

AXISBANK 

* NII expected at Rs 13615 crore versus Rs 12314 crore

* EBIT expected to be seen at Rs 10227 crore versus Rs 8631 crore

* EBIT margin expected to be seen at 75.03% versus 49.75% 

* Net profit expected to be seen at Rs 6478 crore versus Rs 5863 crore

CEATLTD

* Revenue expected at Rs 3249 crore versus Rs 3053 crore

* EBITDA expected to be seen at Rs 357 crore versus Rs 456 crore

* EBITDA margin expected to be seen at 10.98% versus 14.93% 

* Net profit expected to be seen at Rs 122 crore versus Rs 208 crore

HAVELLS

* Revenue expected at Rs 4411 crore versus Rs 3900 crore

* EBITDA expected to be seen at Rs 467 crore versus Rs 373 crore

* EBITDA margin expected to be seen at 10.58% versus 9.56% 

* Net profit expected to be seen at Rs 324 crore versus Rs 249 crore

INFY 

* Revenue expected at Rs 40837 crore versus Rs 39315 crore

* EBIT expected to be seen at Rs 8690 crore versus Rs 8288 crore

* EBIT margin expected to be seen at 21.27% versus 21.08% 

* Net profit expected to be seen at Rs 6832 crore versus Rs 6368 crore

LTIM 

* Revenue expected at Rs 9442 crore versus Rs 9142 crore

* EBIT expected to be seen at Rs 1472 crore versus Rs 1370 crore

* EBIT margin expected to be seen at 15.58% versus 14.95% 

* Net profit expected to be seen at Rs 1221 crore versus Rs 1135 crore

POLYCAB

* Revenue expected at Rs 4894 crore versus Rs 4217 crore

* EBITDA expected to be seen at Rs 639 crore versus Rs 608 crore

* EBITDA margin expected to be seen at 13.05% versus 14.41% 

* Net profit expected to be seen at Rs 443 crore versus Rs 425 crore

TATACHEM

* Revenue expected at Rs 4029 crore versus Rs 3998 crore

* EBITDA expected to be seen at Rs 639 crore versus Rs 819 crore

* EBITDA margin expected to be seen at 15.86% versus 20.48% 

* Net profit expected to be seen at Rs 224 crore versus Rs 326 crore

TATACOMM

* Revenue expected at Rs 5764 crore versus Rs 4872 crore

* EBITDA expected to be seen at Rs 1135 crore versus Rs 1015 crore

* EBITDA margin expected to be seen at 19.69% versus 20.83% 

* Net profit expected to be seen at Rs 265 crore versus Rs 220 crore

WIPRO 

* Revenue expected at Rs 22249 crore versus Rs 21963 crore

* EBIT expected to be seen at Rs 4314 crore versus Rs 4335 crore

* EBIT margin expected to be seen at 19.38% versus 19.73% 

* Net profit expected to be seen at Rs 3011 crore versus Rs 3003 crore

ACCELYA, BAJAJ-AUTO, CRISIL, HSCL,LTTS, MPHASIS, POCL, SOUTHBANK, TIPSMUSIC

BAJAJ-AUTO

* Revenue expected at Rs 13258 crore versus Rs 10519 crore

* EBITDA expected to be seen at Rs 2703 crore versus Rs 2132 crore

* EBITDA margin expected to be seen at 20.38% versus 20.26% 

* Net profit expected to be seen at Rs 2206 crore versus Rs 1836 crore

LTTS 

* Revenue expected at Rs 2566 crore versus Rs 2461 crore

* EBIT expected to be seen at Rs 417 crore versus Rs 383 crore

* EBIT margin expected to be seen at 16.25% versus 15.56% 

* Net profit expected to be seen at Rs 334 crore versus Rs 313 crore

MPHASIS 

* Revenue expected at Rs 3506 crore versus Rs 3422 crore

* EBIT expected to be seen at Rs 533 crore versus Rs 513 crore

* EBIT margin expected to be seen at 15.20% versus 14.99% 

* Net profit expected to be seen at Rs 415 crore versus Rs 404 crore

*Researchbytes Analyst App *

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

Recent Interview...

As of 18:29 PM Tuesday 15 October 2024

Cognizant: Ravi Kumar, CEO

AI Will Increase Productivity & Tech Deployment: Cognizant CEO Ravi Kumar

https://www.youtube.com/watch?v=VYd4uSfSIKA

Gopal Snacks: Mukesh Kumar Shah, Chief Financial Officer

Expect Gross Profit Margin To Rise To 30-31%, With Increase Of Wafers In Overall Mix: Gopal Snacks

https://www.youtube.com/watch?v=4z4LlZqormM

HCL Tech: C Vijayakumar, CEO

Demand Environment Significantly Better Than Q1, Growth Picked Up Across The Board: HCLTech

https://www.youtube.com/watch?v=mz2duXVXt7s

HCL Tech: C Vijayakumar, CEO

HCL Tech Q2: Beat On All Fronts | Here’s What Management Has To Say; C Vijayakumar & Shiv Walia

https://www.youtube.com/watch?v=98XKNb41NRA

Healthcare Glob: Dr. BS Ajaikumar, Chairman & CEO

Hospitals Charging Surge Pricing? | There Should Be Absolute Transparency, Says Healthcare Global

https://www.youtube.com/watch?v=0X01CtiMHtw

Hyundai Motor: Tarun Garg, COO & Whole-Time Dir

SUVs Reached An All Time High, Accounting For 70% Of Our Total Sales In Sep: Hyundai Motor India

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

PVR: Ajjay Bijli, CMD

Q3 Looks Substantially Better & May Be As Big As Q2FY24: PVR Inox

https://www.youtube.com/watch?v=9dcFK6rZ7_Q

Garuda Construc: Praveen Agarwal, MD

Garuda Construction IPO: What’s Next? Exclusive Talk with MD Praveen Agarwal

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

Hitachi Energy: N Venu, MD

Hitachi Energy Completes 75 Years In India; Will Hire 30% More Workforce In 3 Yrs: Hitachi Energy

https://www.youtube.com/watch?v=ZwJ5wiSORMk

IREDA: Pradip Kumar Das, CMD

IREDA Q2 Earnings: NII Jumps 46% YoY; NIM Trajectory To Sustain? Pradip Kumar Das Explains

https://www.youtube.com/watch?v=kCdLmGIVS6U

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

11:30 U.K. CPI y/y (Expected: 1.9% versus Previous: 2.2%)

23:55 Euro ECB President Lagarde Speaks

Mraket regulator SEBI has increased the overall position limit at the trading member level across client and proprietary trades in index futures and options to ₹7,500 crore, or 15 per cent of total open interest (OI) in the market.

Prologis, Inc. (Pre market) (Sector- Realty)

U.S. Bancorp (Pre market) (Sector- Financial)

Synchrony Financial (Pre market) (Sector- Financial)

Citizens Financial Group, Inc. (Pre market) (Sector- Financial)

CSX Corporation (Post market) (Sector- Logistics)

Kinder Morgan, Inc. (Post market) (Sector- Energy)

Crown Castle Inc. (Post market) (Sector- Telecommunication)

Las Vegas Sands Corp. (Post market) (Sector- Hotel)

Discover Financial Services (Post market) (Sector- Financial)

Equifax, Inc. (Post market) (Sector- Miscellaneous)

PPG Industries, Inc. (Post market) (Sector- Chemical)

Steel Dynamics, Inc. (Post market) (Sector- Metal)

Rexford Industrial Realty, Inc. (Post market) (Sector- Realty)

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

The outlook is bullish for Piramal Pharma. The 5 per cent rise on Tuesday indicates that the corrective fall was in place since mid-September has ended. It also marks the beginning of a new leg of upmove. The rise on Tuesday happened from a key trendline support. That keeps the broader uptrend intact. Cluster of supports are there in the ₹222-₹215 region which can limit the downside going forward.