Share Market Highlights October 25, 2024: Sensex plunges 663 pts, Nifty settles below 24,200; Indusind Bank sinks 19%

The rupee dived deeper to settle near all-time low at 84.08 (provisional) against the US dollar on Friday weighed down by a firm American currency and unprecedented foreign fund outflows.

Forex traders said the selling rush by foreign investors in pursuit of better gains from the Chinese market sent the domestic equity markets into a tailspin, dragging the benchmark indices down by nearly 8 per cent in the past two weeks.

Top gainers:

ITC (2.24%), Axis Bank (1.85%), BEL (1.55%), Britannia (1.24%), Hindustan Unilever (1.01%) 

Top losers: 

IndusInd (-18.99%), Adani Enterprises (-4.90%), BPCL (-4.82%), Shriram Finance (-3.92%), Coal India (-3.62%)

Cholamandalam Investment and Finance Company announced the appointment of Jeeva Balakrishnan as Chief Human Resources Officer and Aman Sharma as Head Operations effective November 5, 2024.

Blue jet Healthcare Limited has received award for “Long Standing Impact on Community” under the aegis of “Huron India Most Respected Family Business Awards 2024”. 

Shares traded at ₹470.95 on the NSE, down by 3.46%.

Top gainers on the NSE as at 3 pm: 

ITC (2.09%), Axis Bank (1.56%), Britannia (0.88%), HUL (0.77%), Sun Pharma (0.43%) 

Top losers: 

IndusInd (-18.35%), Adani Enterprises (-5.43%), Shriram Finance (-4.78%), BPCL (-4.34%), M&M (-4.27%)

Stocks advanced on BSE at 3 pm on October 25, 2024, were 670 against 3,239 stocks that declined, and 80 remained unchanged. Total stocks traded were 3,989. The number of stocks that recorded a 52-week high was 113, and those that hit a 52-week low was 214. A total of 176 stocks traded in the upper circuit, and 481 in the lower circuit.

Nielsen & Partner Pty Limited, a step down wholly-owned subsidiary of LTIMindtree in Australia has been deregistered w.e.f. October 23, 2024, pursuant to an internal reorganization exercise. 

LTIMindtree shares trade at ₹5,866.45 on the NSE, lower by 1.41%.

JSW Holdings recorded its standalone net profit for the quarter ended September 2024 at ₹118.26 crore as against ₹63.79 crore in the corresponding quarter last year.

Shares traded at ₹9,239.30, down by 6.20% on the NSE.

PSP Projects recorded its standalone net profit at ₹11.14 crore in Sept 2024 as against ₹39.40 crore in the corresponding quarter last year.

Shares trade at ₹577 on the NSE, lower by 2.29%.

Indian equity benchmarks are extending their losing streak for the fifth consecutive session on Thursday, with the BSE Sensex falling over 700 points by afternoon trading amid broad-based selling pressure and weak global cues.

The 30-share BSE Sensex was trading at 79,363.71, down 701.45 points or 0.88 per cent at 1.00 PM, after opening at 80,187.34. Similarly, the NSE Nifty 50 declined 269 points or 1.10 per cent to 24,130.40, compared to its previous close of 24,399.40.

The market breadth remained significantly negative with 3,196 stocks declining versus 639 advances on the BSE. The selloff intensity was evident as 439 stocks hit their lower circuit compared to 150 stocks touching upper circuit limits. Additionally, 208 stocks touched their 52-week lows while 108 stocks reached 52-week highs.

Read more here.

​India Shelter Finance Corporation​ recorded its standalone net profit for the quarter ended Sept 2024 at ₹89.87 crore as against ₹60.04 crore in Sept 2023. Shares trade flat on the NSE at ₹688.50. 

Hindustan Petroleum Corporation recorded its standalone net profit for the quarter ended Sept 2024 at ₹631.18 crore as against ₹5,118.16 crore in the corresponding quarter last year.

Shares fell 5.60% on the NSE to ₹382.10

Eris Lifesciences board has approved execution of Binding Term Sheet with Levim Lifetech Private Limited and its shareholders for the purpose of acquiring 30% stake in Levim Lifetech Private Limited.

Eris Lifesciences recorded its consolidated net profit for the quarter ended Sept 2024 at ₹96.35 crore as against ₹122.30 crore in the corresponding quarter last year.

Shares trade flat on the NSE at ₹1,277.75

Atul Ltd recorded its consolidated net profit for the quarter ended Sept 2024 at ₹139.53 crore (up nearly 53%) as against ₹91.23 crore in the corresponding quarter last year.

Shares trade flat on the NSE at ₹7,573.35.

AstraZeneca Pharma India board has appointed Amita Bhave as Director – Regulatory Affairs with effect from November 18, 2024.

L&T informed that Joint Commissioner, CGST & Central Excise, Patna-I, has levied penalty of Rs. 2,85,51,602

Larsen & Toubro shares declined 3.57% on the NSE to ₹3,319.60

SpiceJet has settled a $4.5 million dispute with Shannon Engine Support Limited (SES) for an aggregate sum of $2 million.

SpiceJet shares declined 3.70% on the BSE to ₹54.07

Sensex crashed 716.57 pts or 0.89% to 79,348.59 as at 12.58 pm, and Nifty 50 fell by 262.75 pts or 1.08% to 24,136.65.

The shares of Piramal Pharma Limited were trading at ₹244.98 down by ₹10.86 or 4.24 per cent on the NSE today at 12.05 pm.

Piramal Pharma Limited reported strong financial results for Q2 and H1 FY25, ending September 30, 2024, with a consolidated revenue growth of 17 per cent year-on-year to ₹2,242 crore. This surge was largely driven by the robust performance of its Contract Development and Manufacturing Organization (CDMO) segment, which rose 24 per cent year-on-year (Y-o-Y).

Jubilant FoodWorks informed the exchange that Domino’s announced launch of its revamped Cheese Burst range, introducing three exciting new flavors - Hot & Fiery, Creamy Makhani, and Korean Sweet Chilli.

Jubilant FoodWorks stock trades flat on the NSE at ₹595.45

The shares of Dixon Technologies (India) Limited were trading at ₹13,714.25 down by ₹1341.05 or 8.91 per cent on the NSE today at 12.40 pm.

Dixon Technologies (India) Limited reported strong financial results for the quarter and half-year ending September 30, 2024. The company’s revenue surged by 133% year-over-year, reaching ₹11,528 crore for the quarter and ₹18,116 crore for the half-year, marking an increase of 120% compared to the same period in the previous year.

Afcons Infrastructure IPO has been subscribed 0.04 times as of 12.30 pm on October 25, 2024. The NII portion has been subscribed 0.03 times, retail 0.06 times, and those reserved for employees 0.17 times. The issue closes on October 29, 2024.

The Federal Bank stock has been in a long-term uptrend. However, since mid-August, it has not been trending. While it did not fall, the price was largely moving in the range of ₹182-200. Just above ₹200, there is a strong resistance at ₹205. 

Zaggle Prepaid Ocean Services stock trades at ₹409.95 on the NSE, down by 2.05%. 

Company has entered into an agreement with Pirelli Tyre (Suisse) SA.

Major gainers on the NSE as at 12.09 pm:

ITC (3.22%), Sun Pharma (1%), Asian Paints (0.74%), Britannia (0.66%), Kotak Mahindra (0.60%)

Major losers:

IndusInd (-19.78%), M&M (-4.71%), Adani Enterprises (-4.04%), Shriram Finance (-3.92%), NTPC (-3.65%)

Stocks advanced on BSE at 12.07 pm on October 25, 2024, were 630 against 3,148 stocks that declined, and 90 remained unchanged. Total stocks traded were 3,868. The number of stocks that recorded a 52-week high was 102, and those that hit a 52-week low was 204. A total of 139 stocks traded in the upper circuit, and 440 in the lower circuit.

Bank of Baroda (BoB) may report a 5 per cent year-on-year increase in second quarter (Q2FY25) net profit at ₹4,482 crore, per analyst estimates, due to expected decent growth in net interest income (NII) and lower credit cost.

Both PL Capital and Axis Capital, in their Q2FY25 results preview, have estimated the public sector bank’s loan growth to be slower at 12 per cent (19 per cent in the year-ago quarter). Axis Capital expects the Bank’s deposit growth to be lower at 9 per cent (15 per cent).

Patel Integrated Logistics made prepayment of loan amounting to ₹973.96 Lakh mainly from Rights Issue Proceeds and internal accruals.

Shares down 5.10% on the NSE to ₹19.90

Financial Results

Press Release

Presentation

Size and performance matter in an industry where project complexity and cost control in execution are critical. One among the largest infrastructure, engineering, and construction players – Afcons Infrastructure – is coming out with an initial public offering (IPO) of shares from October 25 to October 29. It is a leading firm from the Shapoorji Pallonji group.

The Bank Nifty index has declined sharply, breaking below support at 51,000. This is contrary to our expectation that the index would sustain above 51,000. As such, our bullish view mentioned yesterday has gone wrong.

The index is currently trading at 50,560, down 1.9 per cent. The advances/declines ratio is 2:10, which clearly indicates a negative bias.

E2E Networks announced that it is the first to bring NVIDIA H200 Tensor Core GPUs to the Indian market.

Shares up 1.48% on the NSE, trading at ₹3,419.

The Coastal Aquaculture Authority has approved 16 products of Kings Infra’s Aquaculture Healthcare Division in its published list of CAA Approved Antibiotic-free Aquaculture Inputs on 21st October, 2024. The approval is for a period of 5 years. 

Kings Infra stock trades flat on the BSE at ₹146.15

Goldiam International has signed Leave & License Agreement for its retail operations for lab-grown diamond jewellery in Borivali, Kharghar (Navi Mumbai) and Turner Road-Bandra West under the brand “ORIGEM. 

Goldiam International stock declined 4.98% to ₹338.55 on the NSE

The sell-off in the Nifty 50 continues. The index has declined below the key support level of 24,350. It is currently trading at 24,268, down 0.54 per cent. The advances/declines ratio is at 15:35. This is clearly negative and indicates that more fall could be on the cards.

CoalIndia

JSWSteel

BPCL

BankBaroda

BandhanBank

BEL

Indigo

AegisLog

Balkrishna Ind.

Cholamandalam

DLF

HPCL

IDBIBank

InoxWind

J&kbank

Krsnaa

Macrotech

NLCIndia

Nuvama

Poonawalla

PrajInd

ShriramFinance

Texrail

Torrent Pharma

UTI Asset Management

Nomura on Dixon: Maintain Buy on Company, raise target price at Rs 18654/Sh (Positive) 

Investec on Dixon: Maintain Buy on Company, raise target price at Rs 15900/Sh (Positive) 

Jefferies on Piramal Pharma: Maintain Buy on Company, target price at Rs 260/Sh (Positive) 

Citi on ACC: Maintain Buy on Company, raise target price at Rs 2750/Sh (Positive) 

JP Morgan on CYIENT: Maintain Overweight on Company, target price at Rs 2250/Sh (Positive) 

Morgan Stanley India Strategy: A story for those struggling to stay bullish on Indian equities. Overweight on Financials, Industrials and Consumer stocks (Positive) 

Bernstein on Indusind Bank: Maintains Outperform on Bank, target price at Rs 1800/Sh (Neutral) 

Citi on Indusind Bank: Maintains Buy on Bank, cut target price at Rs 1630/Sh (Neutral) 

GS on Indusind Bank: Maintains Buy on Bank, cut target price at Rs 1430/Sh (Neutral) 

MOSL on Indusind Bank: Maintains Buy on Bank, cut target price at Rs 1500/Sh (Neutral) 

HSBC on Indusind Bank: Maintains Buy on Bank, cut target price at Rs 1510/Sh (Neutral) 

Jefferies on Indusind Bank: Maintains Buy on Bank, cut target price at Rs 1470/Sh (Neutral) 

Macquarie on Indusind Bank: Maintains Buy on Bank, cut target price at Rs 1690/Sh (Neutral) 

Bernstein on Nippon Life: Maintain Outperform on Company, target price at Rs 680/Sh (Neutral) 

Nomura on Petronet: Maintain Buy on Company, target price at Rs 385/Sh (Neutral) 

Nuvama on Petronet: Maintain Buy on Company, target price at Rs 412/Sh (Neutral) 

JPMorgan on Colgate: Maintain Neutral on Company, cut target price at Rs 3300/Sh (Neutral) 

Nomura on Colgate: Maintain Reduce on Company, cut target price at Rs 3050/Sh (Neutral) 

MS on Godrej CP: Maintain Equal weight on Company, target price at Rs 1313/Sh (Neutral) 

GS on Godrej CP: Maintain Buy on Company, cut target price at Rs 1500/Sh (Neutral) 

GS on ITC: Maintain Buy on Company, raise target price at Rs 525/Sh (Neutral) 

Nomura on ITC: Maintain Buy on Company, target price at Rs 555/Sh (Neutral) 

MS on ITC: Maintain Overweight on Company, target price at Rs 554/Sh (Neutral) 

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

GS on Laurus Lab: Maintain Sell on Company, raise target price at Rs 370/Sh (Neutral) 

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

Jefferies on Laurus Lab: Maintain Underperform on Company, cut target price at Rs 300/Sh (Negative) 

IIFL on Indusind Bank: Downgrade to Add on Bank, cut target price at Rs 1300/Sh (Negative) 

Nuvama on Indusind Bank: Downgrade to Hold on Bank, cut target price at Rs 1290/Sh (Negative) 

Nomura on Indusind Bank: Maintain Neutral on Bank, cut target price at Rs 1220/Sh (Negative) 

Citi on Petronet: Maintain Sell on Company, cut target price at Rs 310/Sh (Negative) 

Jefferies on Petronet: Maintain Underperform on Company, cut target price at Rs 240/Sh (Negative) 

UBS on L&T: Downgrade to Neutral on Company, cut target price at Rs 4000/Sh (Negative)

* AARTIIND

* BANDHANBNK

* ESCORTS

* IEX

* INDIAMART

* MANAPPURAM

* NMDC

* PEL

* RBLBANK

EW, TP Rs 1313

Volume growth in India (+7%), HI launches trends, high A&P spends, gaining market share in soaps, and margin improvement in International markets were positives.

Domestic margin pressure could have hurt 2H EBITDA growth.

UW. TP Rs 1650

Management reiterated revenue growth in 2H>1H, but with project-based nature of work, weak order book and track record think it may not be prudent to extrapolate high growth rates.

Stk is cheap relative to most peers & has underperformed YTD

Reduce, TP Rs 3050

2Q Below est; volume growth of high-single-digits in-line with est; but OPM contracted a sharp -200bp y-y on higher promotions & investments

Expect pricing growth to be flattish to low-single digits over near term

Buy, TP Rs 1045

SSSG & revenue weak but in line with GSe

One-off decline in gross margin, will reverse in 2H

Management highlighted initial signs of recovery driven by value initiatives

Expect SSSG to start recovering in 2HFY25

Buy, TP Rs 18654

2Q beat led by mobiles; IT hardware & components major long-term opportunity

Raise rev est by 10%/8%/5% and EPS by 3-5% for FY25-27F

Focus on component manufacturing will be a key margin tailwind, with full impact to be visible from FY27F

U-P, TP Rs 300

Laurus missed estimates once again as operating deleverage impacted margins in 2QFY25.

On flip side, CDMO sales picked up steam after several qtrs

Mgmt refrained from sales guidance & reiterated 20% EBITDA margin guidance for yr

Sell, TP Rs 320

Another subdued qtr – flat revenues, 14.6% EBITDA margin (+30bps QoQ) as weakness in APIs offset improvement in CDMO

Management remains upbeat on CDMO outlook 

Maintain Sell due to ltd growth visibility in other businesses 

Buy, TP Rs 106

2Q Ebitda grew +19% YoY (-3% QoQ) to Rs 8.67bn (est: Rs8.62bn)

QoQ decline was driven by increase in employee expense &startup costs related to expansion at DIAL airport, & partly offset by pickup at segments

Air traffic at GMR’s Indian Airports grew by ~9% YoY (1HFY25: +9% YoY), led by 7%/13%/16% YoY at Delhi/ Hyd/Goa Airports.

Net Debt increased slightly by 3% QoQ to Rs287bn

MOSL on IndusInd BK

Buy, TP Rs 1500

Weak quarter; steering through near-term challenges

Cut earnings estimates by 16.7%/8.7% for FY25/26, leading to an RoA/RoE of 1.6%/13.6% by FY26

NIM contracts sharply to 4.08%; MFI mix declines 149bp to 9.2% of loans

Jefferies on IndusInd BK

Buy, TP cut to Rs 1470

2Q disappointed with profit of Rs13bn, -39% YoY, missing est due to higher credit cost & lower NIMs

Expect pressure to stay in 2HFY25 & moderate in FY26-27 driving earnings cut of 13-25%

Val @1.3x FY26 Adj PB reasonable

GS on IndusInd BK

Buy, TP Rs 1430

Weak 2Q with core-PPOP disappointing yet again (down 8% QoQ), as it missed GSe by 8%

Credit costs spiked partly on contingency buffers leading to PAT miss by 40%

Cut FY25/26/27 EPS by 19%/10%/9%

HSBC on IndusInd BK

Buy, TP cut to Rs 1510 from Rs 1770

Microfinance loans led weakness in performance.

Adverse movements in loan growth, NIMs and credit costs disappointed

Cut EPS by 8.7-21.4% for FY25-27e

However, @1.3x FY26e BVPS, risk/reward favourable

CITI on ITC

Buy, TP Rs 560

Another mixed performance in 2Q; headline revenue ahead of est, led largely by agri business; however, profitability was impacted across multiple segments.

Cigarette revenue grew 7% YoY (net of excise), in-line with Citi expectations

Nomura on ITC

Buy, TP Rs 555

Good sales performance but margins pressured across segments 2Q

Cig vol grew 3% y-y vs est. of 2.5% but margins contracted 145bp y-y

FMCG growth of 5.4% in-line but margins contracted 37bp y-y

Hotels hold up strong; paper sales improve; agri surprises

MS on ITC

OW. TP Rs 554

Key positives came from net cigarette revenues, strong hotel business momentum, rebound in agri business

Key negatives arose from weak home consumption, inflation in food inputs & tobacco leaf, & overall weakness in paper segment

Downgrade to Neutral, TP Cut to Rs 4000 from Rs 4400

Managing returns/cash flow key amid low appetite to grow orders

Supportive core earnings, but new order growth likely to weaken

Competitive scenario favourable in the Middle East; is it sustainable?

Market always rewards orders over core earnings for L&T

Valuation discount to industrial incumbents (30%) & reasonable PEG of 1x (vs 3x for incumbents) provides valuation comfort

Here is a live event tracking price movements. 

The rupee stayed in a straightjacket for yet another week, trading at its near all-time low of 84.07 against the US dollar on Friday amid firm American currency and unprecedented foreign fund outflow.

Forex traders said, the indication of some recovery in domestic equity markets prevented the fall in the local unit.

Le Travenues Technology board has approved entering into definitive agreements to acquire a 51% stake in Zoop Web Services Private Limited (“Zoop”) for a total consideration of ₹12.54 crore

Shares declined 4.21% on the NSE at ₹142.63

Godrej Properties emerges as the highest bidder for a Luxury Group HousingPlot on Golf Course Road in Gurugram with a revenue potential in excess of ₹5,500 crore

Shares trade flat on the NSE at ₹2,916.

Top gainers on the NSE as at 9.30 am:

ITC (3.67%), Axis Bank (2.22%), HCL Tech (1.23%), Asian Paints (1.09%), Kotak Mahindra (1.08%)

Top losers:

IndusInd (-13.63%), NTPC (-3.31%), M&M (-1.57%), Coal India (-1.55%), L&T (-1.43%)

Company: Navkar Corporation Ltd (NAVKARCORP)

Type of Offer: Acquisition

Acquirer: JSW Infrastructure Limited (JSW Port Logistics Private Limited)

Issue of Public Announcement: 27-Jun-2024

Offer price Rs: 105.32

CMP: Rs 117.90

(%Prem.)/Disc.: -12.1%

Offer Size : Rs 412.00 Cr

Proposed Acq. No. of shares: 3.91 cr

Proposed Acq. : 26%

Schedule of Activity:

Start Date: 14 Oct 2024 

End Date: 25 Oct 2024 (Today)

Obligation Date: 08 Nov 2024

Settlement Date: 11 Nov 2024

Derivative Segment

• Atul Ltd

• Chola Inv & Fin Comp Ltd

• JSW Steel Ltd

• Bharat Electronics Ltd

• Hindustan Petro Corp Ltd

• Torrent Pharma Ltd

• DLF Ltd

• Bank of Baroda

• Bharat Petroleum Corp Ltd

• Coal Ind Ltd

• InterGlobe Aviation Ltd

• Shriram Fin Ltd

• Balkrishna Ind Ltd

• B&han Bank Ltd

Cash Segment

• JM Fin Ltd.

• Mahindra Holidays Ltd.

• Mahindra Lifespace Dev Ltd.

• Poonawalla Fincorp Ltd.

• UTI Asset Mgmt Comp Ltd.

• J&K Bank Ltd.

• Inox Wind Ltd.

• Aegis Logistics Ltd.

• CreditAccess Grameen Ltd.

• IDBI Bank Ltd.

• Intellect Design Ltd.

• Jubilant Pharmova Ltd.

• The Phoenix Mills Ltd.

• Praj Industries Ltd.

• Eris Lifesciences Ltd.

• Macrotech Developers Ltd.

• NLC Ind Ltd.

• Nuvama Wealth Mgmt Ltd.

Saturday, 26 October, 2024

Derivative Segment

• ICICI Bank Ltd

• IDFC First Bank Ltd

• JK Cement Ltd

• REC Ltd

Cash Segment

• Yes Bank Ltd.

• Titagarh Railsystems Ltd.

Sunday, 27 October, 2024

Derivative Segment

Nil

Cash Segment

• Rainbow Children’s Medicare Ltd.

Monday, 28 October, 2024

Derivative Segment

• Sun Pharma Ltd

• Indn Oil Corp Ltd

• Ambuja Cements Ltd

• Bharat Heavy Electricals Ltd

• Bharti Airtel Ltd

• LIC Housing Fin Ltd

• The Federal Bank Ltd

• Indraprastha Gas Ltd

• Punjab National Bank

Cash Segment

• Computer Age Ltd.

• Gillette Ind Ltd.

• Lakshmi Machine Works Ltd.

• Firstsource Solutions Ltd.

• Sumitomo Chem Ind Ltd.

• Tamilnad Mercantile Ltd.

• Ajanta Pharma Ltd.

• Adani Power Ltd.

• Indn Bank

• JBM Auto Ltd.

• Poly Medicure Ltd.

• Aditya Birla AMC Ltd.

• JSW Infra Ltd.

• Maharashtra Seamless Ltd.

• Quess Corp Ltd.

• Sapphire Foods Ltd.

• Tata Tech Ltd.

• Gujarat Ambuja Ltd.

• Kalpataru Projects Ltd.

• Motilal Oswal Fin Serv Ltd.

• Pfizer Ltd.

• Shree Renuka Sug Ltd.

• Shaily Engineering Plas Ltd.

• Welspun Living Ltd.

Tuesday, 29 October, 2024

Derivative Segment

• Cipla Ltd

• Marico Ltd

• Container Corp Ltd

• Canara Bank

• Maruti Suzuki Ind Ltd

• Adani Enterprises Ltd

• Adani Ports Ltd

• SBI Cards & Pay Ltd

• Voltas Ltd

Cash Segment

• Honeywell Auto Ind Ltd.

• Engineers Ind Ltd.

• Star Health Ltd.

• Apar Industries Ltd.

• Capri Global Capital Ltd.

• Five-Star Business Fin Ltd.

• Godrej Agrovet Ltd.

• Hitachi Energy Ind Ltd.

• V-Guard Ind Ltd.

• APL Apollo Tubes Ltd.

• Asahi Ind Glass Ltd.

• Deepak Fert & Petro Ltd.

• Edelweiss Fin Serv Ltd.

• Gujarat FluoroChem Ltd.

• Housing & Urban Dev Ltd.

• Kaynes Tech Ind Ltd.

• Laxmi Organic Ind Ltd.

• Vedant Fashions Ltd.

• PCBL Ltd.

• Prestige Estates Proj Ltd.

• Redington Ltd.

• Sheela Foam Ltd.

Wednesday, 30 October, 2024

Derivative Segment

• Biocon Ltd

• Dabur Ind Ltd

• Tata Power Comp Ltd

• Aditya Birla Cap Ltd

• Larsen & Toubro Ltd

Cash Segment

• P&G H&H Ltd.

• TTK Prestige Ltd.

• Carborundum Univ Ltd.

• Grindwell Norton Ltd.

• The New Ind Assu Ltd.

• AIA Engineering Ltd.

• DCM Shriram Ltd.

• KIOCL Ltd.

• Vardhman Tex Ltd.

Thursday, 31 October, 2024

Derivative Segment

Nil

Cash Segment

• Tata Inv Corp Ltd.

Monday, 4 November, 2024

Derivative Segment

• ABB Ind Ltd

• Exide Industries Ltd

• IRCTC Ltd

• Bata Ind Ltd

Cash Segment

• Amara Raja Ener Ltd.

• P&G Health Ltd.

• Gl& Pharma Ltd.

• IRFC Ltd.

Tuesday, 5 November, 2024

Derivative Segment

• Berger Paints Ltd

• Dr. Reddy’s Lab Ltd

• Manappuram Fin Ltd

• Titan Comp Ltd

Cash Segment

• Alkyl Amines Chem Ltd.

• Aptus Value Housing Ltd.

• PB Fintech Ltd.

• Timken Ind Ltd.

• Oil Ind Ltd.

Wednesday, 6 November, 2024

Derivative Segment

• Gujarat Gas Ltd

• Apollo Hosp Enter Ltd

• Granules Ind Ltd

Cash Segment

• Blue Star Ltd.

• Endurance Tech Ltd.

• Kansai Nerolac Ltd.

• Rites Ltd.

• Trident Ltd.

• Gujarat Pipavav Ltd.

Thursday, 7 November, 2024

Derivative Segment

• Cummins Ind Ltd

• Escorts Kubota Ltd

• Page Industries Ltd

• Trent Ltd

• Lupin Ltd

Cash Segment

• Indigo Paints Ltd.

• Akzo Nobel Ind Ltd.

• NHPC Ltd.

• RHI Magnesita Ltd.

• Alembic Pharma Ltd.

• Clean Science & Tech Ltd.

• Emami Ltd.

• Gujarat State Petronet Ltd.

• Aavas Financiers Ltd.

• SJVN Ltd.

Friday, 8 November, 2024

Derivative Segment

• Tata Motors Ltd

• State Bank of Ind

• Info Edge Ltd

• MRF Ltd

Cash Segment

• Esab Ind Ltd.

• Latent View Analytics Ltd.

• Chola Fin Hold Ltd.

• Motherson Sumi Wiring Ltd.

• HBL Power Sys Ltd.

• Equitas Small Fin Bank Ltd.

Saturday, 9 November, 2024

Derivative Segment

• Asian Paints Ltd

Cash Segment

Nil

Monday, 11 November, 2024

Derivative Segment

• Hindalco Ind Ltd

• Shree Cement Ltd

• Gujarat Narm Fert & Chem Ltd

Cash Segment

• Vaibhav Global Ltd.

• Bank Of Ind

• Devyani Intl Ltd.

• Elgi Equipments Ltd.

Tuesday, 12 November, 2024

Derivative Segment

• Bosch Ltd

• Samvardhana Motherson Intl Ltd

Cash Segment

• BASF Ind Ltd.

• Suven Pharma Ltd.

• Medplus Health Serv Ltd.

• Gujarat State Fert & Chem Ltd.

Wednesday, 13 November, 2024

Derivative Segment

Nil

Cash Segment

• HEG Ltd.

• Kalyan Jewe Ind Ltd.

• Happiest Minds Tech Ltd.

• KSB Ltd.

• Thermax Ltd.

Thursday, 14 November, 2024

Derivative Segment

• Grasim Ind Ltd

Cash Segment

• Honasa Consum Ltd.

Reliance Industries Ltd.

Bonus issue 1:1

Previous day Closing Price – Rs. 2,680

Ex-Bonus 28 Oct 2024 (Monday)

Last date for Cum-Bonus Today

Last date for Cum-Dividend Today

Elecon Engineering Co. Ltd.

Dividend Per Share Rs. - 0.5

Previous day Closing Price – Rs. 581.95

ICICI Lombard General Insurance Company Ltd

Dividend Per Share Rs. 5.5

Previous day Closing Price – Rs. 1955.3

Ksolves India Ltd

Dividend Per Share Rs. 8

Previous day Closing Price – Rs. 966

Base Issue At ₹3,000 Cr, Green Shoe Option -₹1,000 Cr

Indicative Price: ₹146/Sh, 5% Discount To CMP

To Use QIP Proceeds For Repayment Of Outstanding Borrowings

60 Days Lock-in Period For Co & Promoters

Crude oil futures traded higher on Friday morning as the market closely monitored the developments in the West Asia region. At 9.19 am on Friday, December Brent oil futures were at $74.53, up by 0.20 per cent, and December crude oil futures on WTI (West Texas Intermediate) were at $70.31, up by 0.17 per cent. November crude oil futures were trading at ₹5932 on Multi Commodity Exchange (MCX) during the initial hour of trading on Friday against the previous close of ₹5911, up by 0.36 per cent, and December futures were trading at ₹5923 against the previous close of ₹5902, up by 0.36 per cent.

Sensex slipped 46.13 pts or 0.06% to 80,019.03 as at 9.16 am, and Nifty 50 declined to 24,385.50, down by 13.90 pts or 0.06%.

Manav Modi, Senior Analyst, Commodity Research, MOFSL

Gold prices steadied but were headed for a weekly gain, driven by safe-haven demand due to escalating geopolitical concerns. Israel’s military said yesterday it killed a Hamas commander who took part in the Oct. 7, 2023, assault on southern Israel and also worked for the U.N. aid agency in the Gaza Strip. Uncertainty is also high ahead of U.S. Election Day on Nov. 5, with polls showing a tight race between Donald Trump and Kamala Harris. New applications for U.S. unemployment aid unexpectedly fell last week, but the number of people collecting benefits in mid-October was the highest in nearly three years, indicating it was becoming harder for those losing jobs to land new positions. Markets are pricing in a 96.9% chance for a cut of 25 basis points at the U.S. Federal Reserve’s November meeting, according to CME’s Fed-Watch Tool. Surprisingly US 10Y yield has not budged much, hovering above 4%; Dollar index is also holding firm abo 104 capping gains for metals on higher side. After slightly better than expected, US preliminary manufacturing and Services PMI data, focus now shifts to US durables goods orders data.

Issuer: 360 ONE WAM Limited (formerly known as IIFL Wealth Management Limited)

Identifiers: NSE: 360ONE; BSE: 542772;

Bloomberg: 360ONE IN Equity

ISIN: INE466L01038

Type of Issue: QIP in accordance with Chapter VI of the SEBI ICDR Regulations and the Companies Act read with Rule 14 of the PAS Rules, each as amended.

Securities Offered: Equity shares of face value INR 1 each

Exchange Rate Used: US$ 1 = INR 84.0738 (Source: RBI Reference Rate as of October 24, 2024)

Indicative Issue Size: Up to INR 22,500 mn (c. US$ 268 mn)

Indicative Issue Price: INR 1,013 per Equity Share

SEBI Floor Price: INR 1,065.36 per Equity Share (up to 5% discount to the SEBI floor price allowed as per the SEBI ICDR Regulations)

Last Closing Price: INR 1,035.85 per share on NSE as of October 24, 2024

Implied Discount to last closing price: 2.21% to the Last Closing Price as of October 24, 2024

Implied Discount to floor price: 4.91% to the SEBI Floor Price

Shares to be issued: Up to 22,211,253 equity shares of face value of INR 1 each

Pre-issue subscribed and paid-up equity share capital: 365,577,852 Equity Shares of face value of INR 1 each (as on the date of the PPD)

Dilution: Up to 6.1% of pre-issue outstanding equity capital (basis indicative issue price)

Use of Proceeds: Investment in wholly owned Subsidiary, 360 ONE Prime Limited for augmenting its capital adequacy ratio, Investments in our alternate asset management business managed by 360 ONE Alternates, General corporate purposes

Share Issue Type (Primary/ Secondary): 100% Primary

Lock-Up: Company – from the date of execution of the Placement Agreement till up to 90 days from the Closing Date; subject to certain exceptions set forth in the PPD;

Promoter and Promoter Group – from the date of execution of the Placement Agreement till 90 days from the date of Closing Date,; subject to certain exceptions set forth in the PPD

Book Running Lead Managers: IIFL Securities Limited, Motilal Oswal Investment Advisors Limited, and Jefferies India Private Limited

Exchange venue: BSE Limited and National Stock Exchange of India Limited

The initial public offering of Afcons Infrastructure, the flagship infrastructure, engineering, and construction company of the Shapoorji Pallonji group, will hit the capital market today for public subscription. The ₹5,430-crore IPO consists of a mix of fresh issues of up to ₹1,250 crore and an offer of sale of up to ₹4,180 crore by the Promoter. The price band has been determined at ₹440 – ₹463 a share.

Finance Minister Nirmala Sitharaman has called jobs the most pressing global issue. She has also urged the World Bank to collaborate with countries to identify high-priority skilling sectors that generate employment.

She was making intervention at the plenary lunch during the annual meeting of the International Monetary Fund and World Bank while speaking on the topic ‘How Should the World Bank Shape Its Future Strategic Direction and Help Clients Create More Jobs to Keep Pace with Evolving Megatrends.’” She emphasised that jobs are the most pressing global issue, given the continued economic headwinds and rapid technological change that are redefining the skills required for youth to enter the job market,” a social media post of Finance Ministry quoting Sitharaman said.

Trading in Gift Nifty indicates a flat opening on Friday and another dull day for domestic markets. Amid mixed global cues, domestic benchmarks are expected to remain range-bound while action will be on the broader markets, said analysts. Stock-specific action will continue based on Q2-FY25 performance, they added.

Dr Lal Pathlabs’ (DLPL) Q2-FY25 margins expanded by 110bps y-o-y on the back of improving contribution from Swasthfit and better margin performance at Suburban (about 600 bps q-o-q). Sample volume growth (+8.6 per cent y-o-y), however, remained soft owing to lower incidence of monsoon-related illnesses (except West region) and a higher base.

Broadly, TVS Motor has reported bottom-line in line with estimates in Q2FY25 led by of sustenance of EBITDA margin at above 11 per cent level. Revenues increased by 13.3 per cent y-o-y to ₹9,228 crore (Vs estimate of ₹9,538 crore) on the back of 14.3 per cent y-o-y increase in volumes as ASPs declined by 0.9 per cent y-o-y.

Coforge (₹7,699): The stock bounced off the 50-day moving average (DMA) this week and broke out of the resistance at ₹7,500. But note that ₹7,700 is a potential resistance.

We retain our BUY rating and TP unchanged at Rs1,230 on Krystal Integrated Services (KIS), a rising leader in the Integrated Facilities Management Services (IFMS).

The company’s quarterly performance aligns with our estimates and sets a strong foundation for future growth, also supported by new contract wins in H1FY25.

These wins, along with Krystal’s expansion into promising verticals like MEP services, robotics, and AI-driven technical solutions, are poised to drive sustainable growth.

The strategic partnership with Vishnu Prasad Research Centre to commercialize solid waste management technology further strengthens its competitive edge and coupled with growing demand in the catering business is a perfect recipe for solid growth.

With reduced working capital days and a stable revenue mix, Krystal is well-positioned to capitalize on the rising opportunity in the IFMS services.

Valued at 16x Sept 26e EPS to arrive at TP of Rs1,230. BUY

👉Net profit down 9.7% at ₹45.4 cr vs ₹50.3 cr (YoY)

👉NII up 2.7% at ₹650.5 cr vs ₹633.7 cr (YoY)

👉Net NPA at 0.80% vs 0.47% (QoQ)

👉Gross NPA at 3.03% vs 2.84% (QoQ)

GLENMARK LIFE SCIENCES: Q2 SL NET PROFIT 953M RUPEES VS 1.2B (YOY); 1.1B (QOQ)

GLENMARK LIFE SCIENCES: Q2 REVENUE 5.1B RUPEES VS 6B (YOY)

GLENMARK LIFE SCIENCES: Q2 EBITDA 1.3B RUPEES VS 1.7B (YOY) || Q2 EBITDA MARGIN 26.51% VS 28.06% (YOY)

👉Net Profit down 0.6% at ₹282.8 cr vs ₹284.5 cr (QoQ)

👉Revenue up 7.7% At ₹1,711.6 Cr Vs ₹1,589.7 Cr (QoQ)

👉EBITDA down 4.8% At ₹398.5 Cr Vs ₹419 Cr (QoQ)

👉Margin At 23.3% Vs 26.3% (QoQ)

👉Net profit up 22.6% at ₹155.5 cr vs ₹126.8 cr (YoY)

👉NII up 7% at ₹509.2 cr vs ₹475.7 cr (YoY)

👉Net NPA at 1.17% vs 1.18% (QoQ)

👉Gross NPA at 3.29% vs 3.33% (QoQ)

SHILCHAR TECH: Q2 SL NET PROFIT 327M RUPEES VS 244M (YOY); 239.8M (QOQ)

SHILCHAR TECH: Q2 REVENUE 1.3B RUPEES VS 1.06B (YOY)

SHILCHAR TECH: Q2 EBITDA 409M RUPEES VS 297M (YOY) || Q2 EBITDA MARGIN 31.35% VS 27.93% (YOY)

REVENUE UP 28 % AT 139 CR (YOY) ,UP 13 % (QOQ)

EBITDA UP 30 % AT 120 CR (YOY),UP 21 %(QOQ) 

MARGINS AT 86% V 84.7 % (YOY),80.4 % (QOQ)

UNITED BREWERIES Q2 ; :CONS NET PROFIT UP 23 % AT 132 CR (YOY),DOWN 24 % (QOQ)

NET REVENUE UP 12 % AT 2115 CR (YOY) ,DOWN 14 % (QOQ)

EBITDA UP 23 % AT 227 CR (YOY),DOWN 20 %(QOQ) 

MARGINS AT 10.75 % V 9.76 % (YOY), 11.5 % (QOQ)

DIXON Q2 :CONS NET PROFIT UP 264% AT 389 CR (YOY), UP 192 % (QOQ)

REVENUE UP 133 % AT 11,534 CR (YOY) ,UP 75 % (QOQ)

EBITDA UP 114 % AT 426 CR (YOY),UP 72%(QOQ) 

MARGINS AT 3.7 % V 4.04 % (YOY),3.75 % (QOQ)

RADICO KHAITAN: Q2 CONS NET PROFIT 806.6M RUPEES VS 648M (YOY); 774M (QOQ)

RADICO KHAITAN: Q2 REVENUE 39.07 RUPEES VS 35.7B (YOY)

RADICO KHAITAN: Q2 EBITDA 1.63B RUPEES VS 1.21B (YOY) || Q2 EBITDA MARGIN 4.18% VS 3.40% (YOY)

CASTROL INDIA: Q2 SL NET PROFIT 2.07B RUPEES VS 1.9B (YOY); 2.32B (QOQ)

CASTROL INDIA: Q2 REVENUE 12.9B RUPEES VS 11.8B (YOY)

CASTROL INDIA: Q2 EBITDA 2.9B RUPEES VS 2.7B (YOY) || Q2 EBITDA MARGIN 22.21% VS 22.70% (YOY)

GODREJ CONSUMER PRODUCTS: Q2 CONS NET PROFIT 4.91B RUPEES VS 4.32B (YOY); EST 4.8B; 4.51B (QOQ)

GODREJ CONSUMER PRODUCTS: Q2 REVENUE 36.7B RUPEES VS 36.02B (YOY); EST 35B

GODREJ CONSUMER PRODUCTS: Q2 EBITDA 7.6B RUPEES VS 7B (YOY); EST 7.3B || Q2 EBITDA MARGIN 20.72% VS 19.54%…

NET PROFIT AR 311 CR V 130 CR LOSS YOY

REVENUE AT 14460 CR V 12,267 CR

EBITDA AT 565 CR V 143 CR YOY

MARGINS AT 3.9 % V 1.17 %

ADANI TOTAL Q2 ; NET PROFIT AT 186 CR V 172 CR QOQ

NET REVENUE AT 1218 CR V 1145 CR

EBITDA AT 305.3 CR V 295 CR QOQ

MARGINS AT 25.05 % V 25.8 %

👉Net profit up 4% at ₹138.4 cr vs ₹133.2 cr (YoY)

👉NII up 7% at ₹368 cr vs ₹343 cr (YoY)

👉Gross NPA at 1.68% vs 1.69% (QoQ)

👉Net NPA at 0.69% vs 0.68% (QoQ)

👉Provisions at ₹14 cr vs ₹20 cr (QoQ)

(Nirmal Bang Retail Research)

Result is below expectations

Revenue from Operations came at Rs. 1609.2 Cr (7.5% QoQ, 9.4% YoY) vs expectation of Rs. 1636 Cr, QoQ Rs. 1496.7 Cr, YoY Rs. 1471.1 Cr

EBIDTA came at Rs. 497.4 Cr (-2.2% QoQ, 3.2% YoY) vs expectation of Rs. 549.8 Cr, QoQ Rs. 508.3 Cr, YoY Rs. 482.1 Cr

EBITDA Margin came at 30.9% vs expectation of 33.6%, QoQ 34%, YoY 32.8%

Adj. PAT came at Rs. 395.1 Cr vs expectation of Rs. 390.6 Cr, QoQ Rs. 364 Cr, YoY Rs. 340.1 Cr

Quarter EPS is Rs. 14.5

Stock is trading at P/E of 54x FY26E EPS

(Nirmal Bang Retail Research)

Result has improved

Revenue from Operations came at Rs. 125.6 Cr (56.3% QoQ, 74.8% YoY) vs QoQ Rs. 80.4 Cr, YoY Rs. 71.9 Cr

EBIDTA came at Rs. 15.7 Cr (77.7% QoQ, 54.1% YoY) vs QoQ Rs. 8.9 Cr, YoY Rs. 10.2 Cr

EBITDA Margin came at 12.5% vs QoQ 11%, YoY 14.2%

Adj. PAT came at Rs. 9.7 Cr vs QoQ Rs. 4 Cr, YoY Rs. 3.6 Cr

Quarter EPS is Rs. 0.5

Stock is trading at P/E of 255.7x TTM EPS

(Nirmal Bang Retail Research)

Result has improved

Revenue from Operations came at Rs. 1201.1 Cr (10.4% QoQ, 20.2% YoY) vs QoQ Rs. 1087.5 Cr, YoY Rs. 999.4 Cr

EBIDTA came at Rs. 235.8 Cr (8.7% QoQ, 54% YoY) vs QoQ Rs. 217 Cr, YoY Rs. 153.1 Cr

EBITDA Margin came at 19.6% vs QoQ 20%, YoY 15.3%

Adj. PAT came at Rs. 97.1 Cr vs QoQ Rs. 73.9 Cr, YoY Rs. 33.6 Cr

Quarter EPS is Rs. 10.6

Stock is trading at P/E of 57.3x TTM EPS

(Nirmal Bang Retail Research)

Result is above expectations

Revenue from Operations came at Rs. 1053.6 Cr (9.8% QoQ, 17.2% YoY) vs expectation of Rs. 1017.6 Cr, QoQ Rs. 959.5 Cr, YoY Rs. 898.8 Cr

EBIDTA came at Rs. 232.7 Cr (14.1% QoQ, 16.2% YoY) vs expectation of Rs. 221.3 Cr, QoQ Rs. 204 Cr, YoY Rs. 200.3 Cr

EBITDA Margin came at 22.1% vs expectation of 21.7%, QoQ 21.3%, YoY 22.3%

Adj. PAT came at Rs. 189.8 Cr vs expectation of Rs. 111.3 Cr, QoQ Rs. 80.9 Cr, YoY Rs. 82.2 Cr

Quarter EPS is Rs. 10.5

Stock is trading at P/E of 29.5x FY26E EPS

(Nirmal Bang Retail Research)

Result has improved

Revenue from Operations came at Rs. 56.2 Cr (23% QoQ, 33.1% YoY) vs QoQ Rs. 45.7 Cr, YoY Rs. 42.2 Cr

EBIDTA came at Rs. 17.5 Cr (22.5% QoQ, 37.3% YoY) vs QoQ Rs. 14.3 Cr, YoY Rs. 12.8 Cr

EBITDA Margin came at 31.2% vs QoQ 31.3%, YoY 30.2%

Adj. PAT came at Rs. 7.2 Cr vs QoQ Rs. 4.5 Cr, YoY Rs. 2.7 Cr

Quarter EPS is Rs. 4.6

Stock is trading at P/E of 19.1x FY26E EPS

(Nirmal Bang Retail Research)

Result is ok

NIM and slippage are awaited

Advances came at Rs. 26871 Cr (20% YoY, 7.1% QoQ)

Net Interest Income came at Rs. 367 Cr vs YoY Rs. 344 Cr, QoQ Rs. 362 Cr

Non Interest Income came at Rs. 199 Cr vs YoY Rs. 149 Cr, QoQ Rs. 172 Cr

PBP came at Rs. 200 Cr vs YoY Rs. 175 Cr, QoQ Rs. 172 Cr

Provisions came at Rs. 14 Cr vs YoY Rs. -3 Cr, QoQ Rs. 20 Cr

Credit Cost came at 0.2% vs YoY -0.1%, QoQ 0.3%

Adj. PAT came at Rs. 138 Cr vs YoY Rs. 133 Cr, QoQ Rs. 113 Cr

Gross NPA came at Rs. 452 Cr vs QoQ Rs. 424 Cr at 1.68% vs QoQ 1.69%

Net NPA came at Rs. 183 Cr vs QoQ Rs. 169 Cr at 0.69% vs QoQ 0.68%

Quarter EPS is Rs. 8

Stock is trading at P/E of 7.5x FY25E EPS & 1.4x trailing P/Adj. BV

(Nirmal Bang Retail Research)

Result ahead of Expectation

Gross Margin expanded by 190 bps QoQ

Revenue from Operations came at Rs. 1116.3 Cr (-1.8% QoQ, 20.7% YoY) vs expectation of Rs. 1140.8 Cr, QoQ Rs. 1136.5 Cr, YoY Rs. 925 Cr

EBIDTA came at Rs. 163.2 Cr (9.5% QoQ, 34.6% YoY) vs expectation of Rs. 154.2 Cr, QoQ Rs. 149 Cr, YoY Rs. 121.2 Cr

EBITDA Margin came at 14.6% vs expectation of 13.5%, QoQ 13.1%, YoY 13.1%

Adj. PAT came at Rs. 82.2 Cr vs expectation of Rs. 79 Cr, QoQ Rs. 76.3 Cr, YoY Rs. 61.9 Cr

Quarter EPS is Rs. 6.1

Stock is trading at P/E of 60.1x FY26E EPS

(Nirmal Bang Retail Research)

Result ok

Revenue from Operations came at Rs. 1288.2 Cr (-7.8% QoQ, 8.9% YoY) vs QoQ Rs. 1397.5 Cr, YoY Rs. 1182.9 Cr

EBIDTA came at Rs. 286.1 Cr (-11.3% QoQ, 6.5% YoY) vs QoQ Rs. 322.4 Cr, YoY Rs. 268.6 Cr

EBITDA Margin came at 22.2% vs QoQ 23.1%, YoY 22.7%

Adj. PAT came at Rs. 207.4 Cr vs QoQ Rs. 232.2 Cr, YoY Rs. 194.4 Cr

Quarter EPS is Rs. 2.1

Stock is trading at P/E of 18x FY26E EPS

(Nirmal Bang Retail Research)

Sales volume (in MT) came at 9.3 vs expectation of 8.384, QoQ 10.2, YoY 8.1 (-8.8% QoQ, +14.81% YoY)

Realisations (Rs./tonne) came at 4954.84 vs expectation of 5224.36, QoQ 5054.51, YoY 5474.94 (-1.97% QoQ, -9.5% YoY)

EBITDA/tonne (Rs./tonne) came at 461.51 vs expectation of 664.24, QoQ 663.92, YoY 677.03 (-30.49% QoQ, -31.83% YoY)

Result is marginally below expectations

Revenue from Operations came at Rs. 4608 Cr (-10.6% QoQ, 3.9% YoY) vs expectation of Rs. 4380.1 Cr, QoQ Rs. 5155.6 Cr, YoY Rs. 4434.7 Cr

EBIDTA came at Rs. 429.2 Cr (-36.6% QoQ, -21.7% YoY) vs expectation of Rs. 556.9 Cr, QoQ Rs. 677.2 Cr, YoY Rs. 548.4 Cr

EBITDA Margin came at 9.3% vs expectation of 12.7%, QoQ 13.1%, YoY 12.4%

Adj. PAT came at Rs. 233.9 Cr vs expectation of Rs. 292.4 Cr, QoQ Rs. 366.2 Cr, YoY Rs. 384.3 Cr

Quarter EPS is Rs. 12.5

Stock is trading at EV/EBITDA of 10.2x FY26E EBITDA

(Nirmal Bang Retail Research)

Result has declined

Revenue from Operations came at Rs. 2107.8 Cr (1.8% QoQ, 6.6% YoY) vs QoQ Rs. 2070.5 Cr, YoY Rs. 1977.8 Cr

EBIDTA came at Rs. 229.3 Cr (-4.8% QoQ, -4.7% YoY) vs QoQ Rs. 240.9 Cr, YoY Rs. 240.5 Cr

EBITDA Margin came at 10.9% vs QoQ 11.6%, YoY 12.2%

Adj. PAT came at Rs. 148.4 Cr vs QoQ Rs. 153.2 Cr, YoY Rs. 156 Cr

Quarter EPS is Rs. 4.3

Stock is trading at P/E of 21.8x TTM EPS

(Nirmal Bang Retail Research)

Result has improved

Revenue from Operations came at Rs. 14460.5 Cr (2.1% QoQ, 17.9% YoY) vs QoQ Rs. 14168.6 Cr, YoY Rs. 12267.2 Cr

EBIDTA came at Rs. 566.2 Cr (-8.5% QoQ, 294.1% YoY) vs QoQ Rs. 618.9 Cr, YoY Rs. 143.7 Cr

EBITDA Margin came at 3.9% vs QoQ 4.4%, YoY 1.2%

Adj. PAT came at Rs. 311 Cr vs QoQ Rs. 313.2 Cr, YoY Rs. -77.2 Cr

Quarter EPS is Rs. 2.4

Stock is trading at P/E of 37x FY26E EPS

(Nirmal Bang Retail Research)

Result below Expectation

Revenue from Operations came at Rs. 1223.7 Cr (2.4% QoQ, -0.1% YoY) vs expectation of Rs. 1342.1 Cr, QoQ Rs. 1194.9 Cr, YoY Rs. 1224.5 Cr

EBIDTA came at Rs. 178.3 Cr (4.2% QoQ, -5.1% YoY) vs expectation of Rs. 244.7 Cr, QoQ Rs. 171.2 Cr, YoY Rs. 187.9 Cr

EBITDA Margin came at 14.6% vs expectation of 18.2%, QoQ 14.3%, YoY 15.3%

Adj. PAT came at Rs. 19.8 Cr vs expectation of Rs. 68.5 Cr, QoQ Rs. 12.5 Cr, YoY Rs. 37 Cr

Quarter EPS is Rs. 0.4

Stock is trading at P/E of 36.3x FY26E EPS

[24/10, 15:15] MR.-HO-S031 SUNIL JAIN: Adani Total Gas Ltd. | CMP Rs. 745 | M Cap Rs. 81936 Cr | 52 W H/L 1260/522

(Nirmal Bang Retail Research)

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

ATUL

* Revenue expected at Rs 1394 crore versus Rs 1193 crore

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

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

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

BANKBARODA

* NII expected at Rs 11835 crore versus Rs 10830 crore

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

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

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

BEL

* Revenue expected at Rs 4543 crore versus Rs 4009 crore

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

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

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

BPCL

* Revenue expected at Rs 103242 crore versus Rs 128106 crore

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

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

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

CHOLAFIN

* NII expected at Rs 2776 crore versus Rs 2028 crore

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

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

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

COALINDIA

* Revenue expected at Rs 30905 crore versus Rs 32776 crore

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

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

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

DLF

* Revenue expected at Rs 1353 crore versus Rs 1347 crore

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

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

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

HINDPETRO

* Revenue expected at Rs 90756 crore versus Rs 113888 crore

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

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

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

INDIGO

* Revenue expected at Rs 17022 crore versus Rs 14943 crore

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

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

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

JSWSTEEL

* Revenue expected at Rs 42265 crore versus 44584 Rs crore

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

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

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

LODHA

* Revenue expected at Rs 3050 crore versus 1749 Rs crore

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

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

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

MOIL

* Revenue expected at Rs 359 crore versus 347 Rs crore

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

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

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

PHOENIXLTD

* Revenue expected at Rs 921 crore versus 875 Rs crore

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

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

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

Financial Results

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(Rs. In Crs.)

Turnover: (NSE + BSE)

Cash Volume: 96692.7 + 4953.11 Total: 101645.81

F&O Volume: 694646.27 + 1342350.96 Total: 2036997.23

Provisional Cash

FII/FPI: NET SELL: -5062.45 

(12537.42 - 17599.87) 

DII: NET BUY: +3620.47 

(13827.85 - 10207.38)

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Press Release

What happened: Ritco Logistics has appointed Mr. Surya Narayan Singh as Vice President of its Multimodal Division. With 38 years of industry experience, including nearly 6.5 years at Darcl Logistics & 19 years at Gati Ltd, he is expected to enhance Ritco’s multimodal offerings, particularly in rail logistics. 

Previous associations: Gati Limited, Reliance Logistics, Darcl Logistics, Logysis India, Transrail logistics Ltd. Etc.

Significant tasks executed: Developing rail as alternate mode in Gati, streamlining & managing rail operations, network expansion, monitoring entire inbound & outbound cargo movement across various end user industries and specially steel and bulk cargo. 

Our view:

~ We believe that Mr. Surya Narayan Singh is the right fit for driving the multimodal business at Ritco, given his extensive experience and expertise.

~ This step further increases credibility of Ritco achieving its target for multimodal operations to contribute 30% of revenue by FY28.

We remain very positive on Ritco Logistics and believe that the stock is undervalued at 9.8x FY27E PE ratio. Re-iterate buy.

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Presentation

Azad Engineering’s stock rose 1.8% after securing a $16 million contract from Honeywell Aerospace for high-complexity components. However, the stock closed at -1.31%.

ABB India’s stock rose 2.6% after ABB Robotics signed an MoU with NAMTECH to establish a School of Robotics (New Age Makers’ Institute of Technology). The stock closed at -0.72%.

M&M’s stock surged 1.7% on reports of its potential acquisition of a 50% stake in Škoda Auto Volkswagen’s India business, valued at $1 billion. The stock closed at +1.18%.

TCS expanded its partnership with Nvidia to launch AI-driven industry solutions, despite a 1.5% drop in its stock price. The stock closed at -0.45%.

Nifty 50 24,399 🔻 0.15%

Sensex 80,065 🔻 0.02%

Nifty Midcap 150 20,932 🔻 0.25%

Nifty Smallcap 250 17,352 🔻 0.06%

📊 Market Volatility

India VIX closed at 13.97 🔻 4.45%

Sectoral Highlights

📈 Nifty PSU Bank 🔼 1.22%

📈 Bank Nifty 🔼 0.57%

📉 Nifty FMCG 🔻 2.83%

📈 Top Gainers 

Piramal Pharma ₹255.84 🔼 17.36%

Sona BLW Precision Forgings ₹729.45 🔼 13.25%

📉 Top Losers 

KPIT Technologies ₹1,410.85🔻13.69%

VIP Industries ₹471.65🔻7.17 % 

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

Colgate-Palmolive Company (Pre market) (Sector- FMCG)

Aon plc (Pre market) (Sector- Financial)

Centene Corporation (Pre market) (Sector- Healthcare)

Booz Allen Hamilton Holding Corporation (Pre market) (Sector- Technology)

Coca Cola Femsa S.A.B. de C.V. (Pre market) (Sector- FMCG)

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

Saia, Inc. (Pre market) (Sector- Logistics)

VALE S.A. (Post market) (Sector- Metals)

Sanofi (TENT) (Sector- Healthcare)

ENI S.p.A. (TENT) (Sector- Energy)

NatWest Group plc (TENT) (Sector- Financial)

Shinhan Financial Group Co Ltd (TENT) (Sector- Financial)

Nomura Holdings Inc ADR (TENT) (Sector- Financial)

Nebius Group N.V (TENT) (Sector- Technology)

Here’s an interesting stock idea: The stock idea that we have for you today is CRISIL The stock has surged above 8 per cent so far this week. There is a bullish breakout on the chart. That leaves the door open for the share price to rise more from here. Check out the latest episode of bl.Today’s Pick to learn more.

13:30 EURO German ifo Business Climate (Expected: 85.6 versus Previous: 85.4)

18:00 U.S. Durable Goods Orders m/m (Expected: -1.1% versus Previous: 0.0%)

19:30 U.S. Revised UoM Consumer Sentiment (Expected: 69.6 versus Previous: 68.9)

19:30 U.S. Revised UoM Inflation Expectations (Previous: 2.9%)

Afcons Infrastructure has raised Rs 1621 crore from anchor investors ahead of its initial public offering that opens for public subscription today. The company said it allocated 35,021,597 equity shares at Rs 463 per share on Thursday to anchor investors.

Foreign and domestic institutions who participated in the anchor were GIC, HDFC MF, ICICI Pru AMC, BlackRock, Fidelity Investments, Goldman Sachs, HSBC Group, Nomura AM, Nippon MF, Fullerton, Enam Holdings, Birla MF, Mirae MF, Quant MF, Invesco MF, Eastbridge, Amundi, Invesco HK, Loomis & Sayles, HDFC Life, 360 One AIF, Manulife, Mirae Global, WhiteOak (MF), WhiteOak, BNP Baroda MF, LIC MF, BCI, Jupiter AM, NS Partners, ICICI Pru Life, Abakkus, Oaktree, Think Investment, Helios MF, Mahindra, Trust MF, Edelweiss Life, Carnelian, Allspring, Birla Offshore, MK Ventures, Jain Global, Jane Street, PIMCO, SBI General Insurance, Nuvama Crossover fund, GAM Investment UK, Neuberger, Taurus MF, ITI MF, Nippon Life, Verition, Zeta Global Funds (OEIC) PCC - Zeta Series B Fund PC.

Out of the total allocation, 11,710,136 equity shares were allocated to 15 domestic mutual funds through a total of 31 schemes amounting to Rs 542.2 crore contributing 33.44% of the total anchor book size.

Buzzing stocks: Coromandel International, Zomato, UltraTech, REC, Powergrid, Kansai, Axis Bank, Jubilant Pharma, Shriram Properties, Ujjivan SFB, Coal India, JSW Steel, Indigo, BPCL, HPCL, BEL, BoB, DLF, IDBI Bank, JM Financial, UTI AMC

Cement industry consolidation continues and at a premium value despite a not-so-strong sector outlook. The anticipated pick-up in cement prices has yet to materialise, with hopes resting on the second-half of the fiscal year.

Adani Group company - Ambuja Cements, has entered into a share purchase agreement with the promoters and a few other shareholders of Orient Cements, a CK Birla Group company, to acquire a 46.8 per cent stake. 

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

Aluminium prices have been consolidating over the last few weeks. The Aluminium Futures Contract on the Multi Commodity Exchange (MCX) is oscillating in a broad range of ₹230-₹245 for more than three weeks now. Within this, the contract is now poised near the upper end of the range at ₹242 per kg.

The short-term outlook for CRISIL is bullish. The stock rose by 3 per cent on Thursday. Also, the 8 per cent surge this week has taken the share price well above a key resistance level of ₹4,865. It also marks a breakout of a channel which strengthens the bullish case.