Share Market Highlights 28 October 2024: Stock markets rebound with Sensex gaining 602 pts amid buying surge and eased crude prices

Top gainers

Shriram Finance (5.35%), Adani Enterprises (4.07%), ICICI Bank (3.10%), JSW Steel (3%), Wipro (2.90%) 

Top losers: 

Coal India (-3.76%), Bajaj Auto (-2.07%), Axis Bank (-1.29%), Hero Motocorp (-1.19%), BEL (-0.92%)

Sensex closed at 80,005.04, higher by 602.75 pts or 0.76%, and Nifty 50 ended at 24,339.15, up 158.35 pts or 0.65%.

Indian Oil Corporation recorded its standalone net profit for the quarter ended September 2024 at ₹180.01 crore as against ₹12,967.32 crore in the corresponding quarter last year.

Shares closed flat at ₹145.74 on the NSE

LIC Housing Finance recorded its standalone net profit for the quarter ended Sept 2024 at ₹1,328.89 crore as against ₹1,188.05 crore in the corresponding quarter last year.

Shares surged 3.08% on the NSE to ₹616.70

RITES has received the Letter of Acceptance on October 28, 2024 from U.P. State Bridge Corporation Limited for “Consultancy Services for Construction Supervision of Civil Works (CSC) for Supervision, Monitoring, Quality Control, and Work Zone Safety for Construction of Bridges, Rail Over/Under Bridges, Flyovers and Elevated Roads including approaches in several districts of Uttar Pradesh”. 

Contract valued at ₹59.13 crore.

Shares trade 2.38% on the NSE, trading at ₹284.45.

Accelya announced that its financial solutions have processed over $100 billion in revenue for airlines worldwide in the financial year ending June 30, 2024

Shares trade flat on the NSE at ₹1,565.50.

Lords Chloro Alkali Limited has announced that the Company’s 16 MW DC solar power plant has commenced operations from October 25, 2024.

Shares surge 4.36% to ₹132 on the NSE.

Coal India (-4.39%), Axis Bank (-1.80%), Bajaj Auto (-1.70%), Kotak Mahindra Bank(-1.18%), Tech Mahindra (-0.90%)

Shriram Finance (5.68%), Adani Enterprises (3.88%), Eicher Motors (3.29%), ICICI Bank (2.92%), Wipro (2.70%)

Stocks advanced on BSE at 3 pm on October 28, 2024, were 2,591 against 1,365 stocks that declined, and 159 remained unchanged. Total stocks traded were 4,115. The number of stocks that recorded a 52-week high was 126, and those that hit a 52-week low was 145. A total of 337 stocks traded in the upper circuit, and 312 in the lower circuit.

Hindustan Copper (6.16%), NMDC (4.44%), Adani Enterprises (4.31%), Hindustan Zinc (3.52%), Vedanta (3.05%)

Aided by strong operational performance and significantly lower NPA provisioning, Punjab National Bank (PNB) on Monday reported a 137 per cent increase in net profit for the quarter ended September 30, 2024 at ₹4,714 crore (₹1,990 crore).

The latest bottomline performance was the highest ever quarterly net profit recorded by the state-owned lender and is also higher than consolidated net profit of ₹3,976 crore in June 2024 quarter, latest filings with stock exchanges showed.

On a standalone basis, PNB’s net profit for the quarter under review increased 145 per cent to ₹4,303 crore (₹1,756 crore).

Read more here.

Sun Pharmaceutical reported its standalone net profit at ₹863.2 crore in the quarter ended Sept 2024 as against ₹888.6 crore in the corresponding quarter last year. 

Shares were up 2.29% on the NSE, trading at ₹1,902.95

Bharat Heavy Electricals Ltd recorded its standalone net profit for the quarter ended Sept 2024 at ₹96.67 crore as against the loss of ₹58.30 crore in the corresponding quarter last year.

Shares jump 9.11% on the NSE to ₹236.60

Paras Defence and Space Technologies recorded its standalone net profit for the quarter ended Sept 2024 at ₹15.60 crore as against ₹10.10 crore in the corresponding quarter last year.

Shares surged 4.41% on the NSE to ₹967.80

Mahindra Finance, a part of the diversified Mahindra Group, has received necessary approvals from the Reserve Bank of India to launch co-branded credit cards in association with RBL Bank, one of India’s leading private sector banks. These co-branded cards will be specifically designed to cater to a broad spectrum of Mahindra Finance’s customer base, offering enhanced benefits, loyalty programs, and milestone rewards.

Raul Rebello, Managing Director & CEO, Mahindra Finance emphasized, “As a preferred financier to emerging India, we continuously endeavour to provide relevant products for our customers. Our first co-branded credit card, being developed in collaboration with RBL Bank, will be designed to meet the aspirational needs of our customers, across geographies in India. Through our 1350 plus branches, healthy customer acquisition across branches and dealerships covering more than 5000 touchpoints, we believe RBL Bank’s expertise and being one of the top card issuers would provide significant synergies”.

Waaree Energies (Waaree) made a power-packed listing today with the shares making a more-than-decent debut at ₹2,550, a 69.7 per cent premium over its IPO issue price of ₹1,503. While it has given up some of the gains in further trading, at the time of publishing this article it was trading at ₹2,375 which still represents a solid 58 per cent increase over the IPO price.

The demand for the issue was strong, with the offer getting subscribed around 76 times. The applications received against it were around 97.3 lakh in number – the highest-ever number of applications received against a public issue in India.

Read more here.

Knowledge Marine & Engineering Works Limited (KMEW) has been awarded a ₹147.43 crore contract from the Inland Waterways Authority of India (IWAI) for fairway maintenance of two stretches along National Waterway-1. The contract, announced on October 28, covers the Sultanganj-Mahendrapur (74 km) and Mahendrapur-Barh (71 km) stretches of River Ganga. 

The shares of Knowledge Marine & Engineering Works Limited (KMEW) were trading at ₹1795 up by ₹102.55 or 6.06 per cent on the BSE today at 2.11 pm. 

Read more here.

Saboo Sodium Chloro Limited (SSCL) announced today the expansion of its captive solar power plant at its Nawa refinery in Sambhar Lake, Rajasthan. The company is adding 150 kW of solar power capacity to its existing 500 kW facility, bringing the total capacity to 650 kW.

The shares of Saboo Sodium Chloro Limited (SSCL) were trading at ₹23.20, up by ₹1.10 or 4.98 per cent on the BSE today at 1:55 pm.

Read more here.

Indian Bank (9.72%), Canara Bank (5.61%), Bank of Baroda (5.16%), PNB (5.03%)

Wheels India Ltd, an auto parts manufacturer, reported a significant increase in net profit for the second quarter ending September 30, 2024, at ₹21.92 crore, up from ₹5.24 crore in the same period last year. 

The lower profit in Q2 of the previous year was due to one-time expenses, including pre-delivery inspection charges. The company’s revenue for Q2 2024 stood at ₹1,085 crore, slightly down from ₹1,189 crore in Q2 2023.

Adani Group company Ambuja Cements delivered a steady performance in the July-September quarter of 2024-25 with a volume growth of 9%, at 14.2 million tonne. 

It was the highest in terms of volume in Q2 series in the past five years. The Adani Group company registered highest quarterly revenue of ₹7,516 crore, up 1% year-on-year. 

The company’s net worth increased to ₹59,916 crore in the quarter, it said in its earnings on Monday. The company attributed this performance to healthy volume growth, increasing scale of operations, value extraction of acquired assets, enhanced cost leadership, improved operational efficiencies and group synergies.

Read more here.

SRM Contractors has signed the agreement for BOQ Project of OMC (Odisha Mining Corporation Ltd) for aggregate quoted price of ₹45.25 crore. 

Stock trades flat on the NSE at ₹261

Knowledge Marine & Engineering Works Limited has been awarded with a work order from Inland Waterways Authority of India for Fairway maintenance of Sultanganj– Mahendrapur (74 Km) and Mahendrapur–Barh (71 Km) stretches of National Waterway–1 (“River Ganga”) (contract valued ₹147 crore)

Knowledge Marine stock jumps 7.83% on the BSE to ₹1,824.95.

Despite the ongoing subdued market mood, Waaree Energies received the strongest subscription response from all sets of investors and also debuted slightly below our expectations. Pre listing, we had recommended profit booking if Waaree lists at double of its issue price which was the street expectations. With listing at Rs 2550, we believe the stock can deliver healthy returns post listing as well.

We believe the long term investor demand would continue at the counter on the back of sector demand and expansion plans, with an opportunity to play at the largest manufacturer of solar PV modules in India, bolstered by favourable government policies and few incentive (PLI) schemes. Hence, we recommend long term investors to “HOLD” while short term investors can look for a target anywhere between Rs 2750-2800 to book profits. Fresh accumulation can be attempted anywhere between Rs 2200-2300 if the opportunity arises due to market scenario and profits booking attempts.

Quasar India Ltd

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

Previous day Closing Price – Rs. 1506.95

Ex-Split 29 Oct 2024 (Tomorrow)

Last date for Cum-Split Today

Last date for Cum-Dividend Today

Infosys Ltd.

Dividend Per Share Rs. - 21

Previous day Closing Price – Rs. 1853.25

Route Mobile Ltd

Dividend Per Share Rs. 6

Previous day Closing Price – Rs. 1506.95

Ambuja Cements recorded its standalone net profit for the quarter ended September 2024 at ₹500.66 crore as against ₹643.84 crore in the corresponding quarter last year. 

Shares trade at ₹569.85 on the NSE, up 3.10%.

B-Right RealEstate Limited, through its step-down subsidiary, Parth Construction, has executed bulk inventory sales transaction worth Rs 91.36 crore with Rustomjee Group (Keyvihar Realtors Pvt Ltd). 

B-Right RealEstate shares trade 2% lower on the BSE at ₹373.20

Shares of Ajmera Realty & Infra surged 6.70% to ₹880 on the NSE. Company recorded its standalone net profit for the quarter ended September 2024 at ₹27.59 crore as against ₹21.41 crore in the corresponding quarter last year.

NBCC (India) Limited has been awarded redevelopment works (Phase-I) in Goa for ₹1,726 crore.

Shares surge 4.37% on the NSE to ₹91.75

Cartrade Tech recorded its consolidated net profit for the quarter ended September 2024 at ₹30.72 crore as against ₹5.04 crore in the corresponding quarter last year.

Shares surge 5.05% on the NSE to ₹1,032.

HCLTech released The Global Cyber Resilience Study 2024-25, detailing strategic priorities aimed at bolstering cybersecurity readiness and resilience. 

Shares trade flat on the NSE at ₹1,865.85.

Top gainers on the NSE as at 12.03 pm:

Shriram Finance (7.04%) Adani Enterprises (3.86%), ICICI Bank (3.72%), M&M(3.60%), IndusInd (3.25%)

Top losers:

Coal India (-3.75%), BEL (-1.32%), Tech Mahindra (-1.20%), SBI Life (-0.97%), Axis Bank (-0.96%)

Stocks advanced on BSE at 12.04 pm on October 28, 2024, were 2,510 against 1,304 stocks that declined, and 175 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 135. A total of 271 stocks traded in the upper circuit, and 278 in the lower circuit.

Cyient, a global engineering services company, has acquired a stake of 27.3 per cent in Azimuth AI, a fabless custom ASIC (application-specific integrated circuit) company. 

“Investing in Azimuth AI strengthens our focus on building ASIC chips designed and developed in India — for the world. It further enhances our capabilities in this critical space while reinforcing our commitment to next-gen power and energy solutions. We look forward to this partnership,” Krishna Bodanapu, Cyient’s Executive Vice-Chairman and Managing Director, has said.

The Hyderabad-based company floated a wholly-owned semiconductor subsidiary early this year.

Praveen Yasarapu, Founder and CEO of the US-based Azimuth AI, said the synergies between the two companies has the potential to deliver groundbreaking semiconductor solutions.

Shares trade flat on the NSE at ₹1,790.40

smallcase announced the launch of high interest fixed deposits (FDs) offered by banks on the smallcase app. smallcase has partnered with Shivalik Bank, Suryoday Small Finance Bank, Utkarsh Small Finance Bank, South Indian Bank, North East Small Finance Bank to offer FDs. The fixed deposit schemes with a maximum interest rate of 9.5% and tenure of 60 months can be availed on deposits of up to INR 10 lakhs.

Bajaj Finance board has allotted 6,020 NCDs, at face value of ₹ 10 Lakh each and 75,000 NCDs at face value of ₹ 1 Lakh each, aggregating to ₹ 1,384.17 crore on private placement basis.

Shares trade flat on the NSE at ₹6,948.90

InfoBeans Technologies recorded its standalone net profit for the quarter ended Sept 2024 at 14.69 crore as against ₹4.56 crore in the corresponding quarter last year.

Shares skyrocketed 12.88% on the NSE to ₹432.60.

Saboo Sodium Chloro Limited (SSCL) announced enhancement to the captive solar power plant at our Nawa refinery, located in Sambhar Lake, Rajasthan. 

Shares rise 2.04% to ₹22.55 on the BSE.

The Bank Nifty index has risen back well above 51,000 again. It is now trading at 51,488, up 1.38 per cent. It is now important for it to sustain this rise and get a strong follow-through buying from here. Only the danger of falling back below 51,000 will reduce. The advances/declines ratio is at 10:2. This is positive.

Solar PV module manufacturer Waaree Energies Limited made its stock market debut on Monday with a listing price of ₹2,500 on the National Stock Exchange (NSE), marking a 67 per cent premium over its issue price of ₹1,503. 

However, the shares retreated in early trading, declining nearly 4 per cent to ₹2,400.55 on NSE and 5.73 per cent to ₹2,404 on BSE as of 10:46 AM IST.

Nifty 50 is witnessing a recovery rally now. The index has risen well in the opening trades today. It is currently trading at 24,365, up 0.77 per cent. The advances/declines ratio is at 36:14. If this trend sustains, then Nifty can rise further during the day. We will have to wait and watch.

The Nifty could attempt a bounce this week, according to historical patterns for the current week in seasonal data. 

This week is the 44th week of the calendar year, and a 10-year analysis starting from 2014 indicates that the market has ended higher 80% of the time during this week, with an average gain of 1.4%. In fact, the last time this week ended in the red was eight years ago in 2016.

That said, the tactical trend remains down and any bounce on the Nifty will face stiff resistance in the 24,413 - 24,462 area, while support lies at 24,073. Any break below this support will bring the all-important 23,779 into the picture.

Macrotech Developers (Lodha) will launch nearly 8 million square feet of residential space in the second half of this fiscal with an estimated sales value of Rs 10,000 crore, as part of its strategy to expand the business.

Macrotech Developers stock trades flat on the NSE at ₹1,075.

Adani Enterprises stock surged 3.34% on the NSE to ₹2,783.45. Its wholly-owned subsidiary Adani Airport Holdings Limited (AAHL) announced the incorporation of a new subsidiary named Celeritas International FZCO (CIFZCO) in the United Arab Emirates.

SpiceJet launches 32 New Flights for Winter Schedule

Shares up 2.57% on the BSE to ₹58.33.

Waaree Energies Limited is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW.Its portfolio of solar energy products consists of multi-crystalline modules, monocrystalline

modules and TopCon modules.

The company has a strong focus on growth and

expansion. It has demonstrated remarkable financial growth. The company has a diversified base of global and Indian customers with a strong order book.

Overall, Waaree Energies Limited made a strong listing of 2509, reflecting investor confidence in the company’s growth potential and financial stability. Investors may consider booking part profit here, and those who want to hold it for the long term may keep a stoploss of 2000.

Gopal Snacks Limited has launched a new product, “Pizza Pasta” within the Snack Pallets category.

Shares rise 1.45% on the NSE to ₹456

Waaree Energies IPO listing live

Bandhan Bank has attracted positive attention from several brokerage houses following its robust performance in Q2, marked by significant profit growth and resilience in asset quality.

Jefferies initiated coverage with a “Buy” rating and a target price of ₹240. It noted a profit of ₹9 billion, reflecting a 30 per cent year-on-year increase that exceeded expectations. Jefferies highlighted the bank’s conservative cooling-off period, a high share of unique borrowers, and improved credit scores, which have collectively contributed to the quality of microfinance institution loans.

Bharti Airtel (Airtel) is expected to report strong numbers for its second quarter (Q2) ending September 30, with multifold jump in its consolidated net profit compared to the same quarter of the previous financial year.

According to analysts, the company’s revenue growth, EBITDA margins, finance costs, and most importantly average revenue per user (ARPU) will also be interesting to watch as its rival Reliance Jio has recently reported a seven per cent rise in its ARPU for the Q2 to ₹195.

Veranda IAS, a Veranda Learning enterprise, announced its association with M.O.P. Vaishnav College for Women (Autonomous), a premier educational institution in Chennai. Both will jointly offer a Diploma in Governance and Policy Studies.

Veranda shares trade flat on the NSE at ₹270.50

Indigo fell sharply on back of lower than expected earning with reduction in target prices from fund houses. 

IndiGo shares plummet 12.94% on the BSE to ₹3,800.

Deepak Jasani, Head of Retail Research at HDFC Securities 

U.S. stocks closed mixed Friday as Treasury yields rose and investors weighed fresh economic data ahead of next week’s jobs report. A rally in US stocks faded as banks dragged down the broader market despite gains in tech shares. Bitcoin slumped after a news report that federal investigators are probing cryptocurrency firm Tether. Banks got hit as New York Community Bancorp tumbled 8.3% on a weaker outlook.

Russia’s central bank raised interest rate to 21% to fight inflation boosted by military spending. The central bank said in a statement that “growth in domestic demand is still significantly outstripping the capabilities to expand the supply of goods and services.” Inflation, the statement said, “is running considerably above the Bank of Russia’s July forecast,” and “inflation expectations continue to increase.” It held out the prospect of more rate increases in December.

India’s foreign exchange reserves declined to $688 billion for the week ended Oct. 18, according to data from the Reserve Bank of India on Friday. The country’s forex kitty fell by $2.2 billion over the previous reporting week.

Nvidia dethroned Apple as the world’s most valuable company on Friday following a record-setting rally in the stock, powered by insatiable demand for its specialized artificial intelligence chips. Nvidia’s stock market value briefly touched $3.53 trillion, slightly above Apple’s $3.52 trillion, LSEG data showed.

UBS Global Wealth Management has raised its stance on global equities to “attractive” from “neutral”, citing resilient U.S. economic growth, monetary policy easing by major central banks and an artificial intelligence (AI) boom. “Economic growth is remarkably resilient and central banks have been proactive, giving us confidence the supportive backdrop has more room to run,” UBS analysts said in a note dated Thursday.

Crude oil futures fell Sunday, after widely-anticipated Israeli airstrikes against Iran did not hit crucial oil facilities. After initially dropping more than 5%, West Texas Intermediate crude was down 4.7%, to $68.39 a barrel, as of 9:30 p.m. Eastern, while Brent crude, the global benchmark, was down 4.5% to $72.21.

China’s industrial profits plunged in September, recording the steepest monthly decline of the year, official data showed on Sunday, as policymakers ramp up stimulus to revitalise economic growth. Profits in September fell 27.1% from a year earlier, following a 17.8% fall in August, while earnings slipped 3.5% in the first nine months versus a 0.5% rise in the January-August period

Japanese stocks rose strongly on Monday as the yen sank to a three-month low after Prime Minister Shigeru Ishiba’s coalition lost its parliamentary majority in a drubbing in Sunday’s election, raising uncertainty over the path for policy and the economy. Other Asian markets were mostly in the green on Monday morning.

Nifty ended on a weak note on October 25 near two and half month lows despite the last hour bounce. It fell for the fifth consecutive session. It closed lower for the fourth consecutive week falling 2.71% over the week. Indian markets have fallen on all days of the week reeling under FPI selling pressure, weak Q2 results from most corporates and rising treasury yields in the US. Though a bounce in the markets is overdue, it needs reversal of selling pressure from FPIs and some sentiment stability in the local investor community. Nifty could now take support from 23892 while 24378 could prove to be tough to breach on the up in the near term.

V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

“A significant market trend during the recent days of market correction is the flight to quality. While the Nifty corrected by 8.3% from the recent peak, the mid and small cap indices corrected by 9.8% and 9.3% respectively from their recent peaks. Actually the index movements conceal the carnage in the mid and smallcaps where the correction has been above 30% in dozens of stocks and even by more than 40% in some momentum stocks. It is important to know that many largecaps are steady in this volatile market.

The trend of flight to quality is likely to sustain given the good numbers from banking majors like HDFC Bank and ICICI Bank where valuations continue to be fair. Investors can profit from these polarised valuations.

The global market structure may turn favourable after the subdued Israeli strikes against Iran avoiding the Iranian oil fields which has resulted in a sharp drop in crude prices. The imminent US presidential elections and the uncertainty associated with that will continue to weigh on markets.”

Anand James, Chief Market Strategist, Geojit Financial Services. 

Nifty outlook:

With Friday’s closing hour managing to push Nifty above the initial two hour’s close when the selling intensity was at its highest, we now have initial signs of a reversal. The August low of 23894 will thus act as a downside marker for all upside attempts. However, we also expect rejection trades to resurface on pull back to 24350. 

Derivative outlook:

Nifty weekly contract has highest open interest at 25000 for Calls and 23000 for Puts while monthly contracts have highest open interest at 25000 for Calls and 23000 for Puts. Highest new OI addition was seen at 25000 for Calls and 23000 for Puts in weekly and at 25000 for Calls and 23000 for Puts in monthly contracts. FIIs increased their future index long position holdings by 4.95%, decreased future index shorts by 2.93% and in index options, 35.88% increase in Call longs, 28.23% increase in Call short, 47.47% increase in Put longs and 29.05% increase in Put shorts

HDFC Life Insurance Company has received an Order from the Additional Commissioner Grade ‐ II Appeal, Sector‐1, Lucknow, Uttar Pradesh for the period July 2017 to March 2018 and FY 2018‐19.

Shares trade flat on the NSE at ₹710

Ashapura Minechem stated that the Court of LXXXI Additional City Civil and Sessions Judge at Bengaluru, has in the matter of State of Karnataka by CBI, ACB vs Mahesh Biliye & others regarding Iron Ore Exports, found Mallikarjun Shipping Pvt. Ltd, two other individuals and Ashapura Minechem Ltd. along with its Chairman guilty u/s 120-B, 420 and 379 of IPC.

Shares tumble 9.06% on the NSE to ₹276.10

CG Power and Industrial Solutions is enhancing its portfolio through launch of process performance motors i.e. process performance CI AXELERA 3.0 and AXELERA™ 4.0 motors up to 7.5 Kw. 

Shares trade flat on the NSE at ₹737

Top gainers on the NSE as at 9.30 am:

Shriram Finance (5.86%), ICICI Bank (2.77%), SBI (1.86%), BPCL (1.57%), hindalco (1.32%)

Top losers:

Coal India (-3.88%), ONGC (-2.54%), L&T (-1.02%), ITC (-0.93%), Bharti Airtel (-0.91%)

CLSA on Shriram Fin

O-P, TP Rs 3600

2Q25 net profit of Rs20.7bn was largely in line

AUM growth of 20% was driven by healthy 16% YoY growth in disbursements.

CV/CE segment disbursements were up in the mid-teens YoY while MSME disbursements nearly doubled

MS on Shriram Fin

OW. TP Rs 4200

Stable stressed asset creation amid increases across lenders, strengthening provision coverage, robust capital, healthy yet undemanding loan growth expectations, strong ROE with attractive headline & relative val all support as preferred pick

HSBC on Shriram Fin

Buy, TP raised to Rs 3725

2QFY25 performance reinforced view that SHFL is in its most convincing operating period since 2010

Delivery on all parameters was strong, guidance was re-iterated and there were no misses in asset quality or growth

GS on Shriram Fin

Buy, TP Rs 3557

An in-line quarter across different line items 

with stable asset quality & expansion of ROAs by 3bps QoQ, which is reassuring in a tough macro environment

Reported in-line credit costs with a healthy outlook & guidance to improve GS3 in 2H

Jefferies on Bandhan BK

Buy, TP Rs 240

2Q profit of Rs9bn, up 30% YoY, not only beat est. but quality of MFI loans has held-up well

Conservative cooling-off period, high share of unique borrowers, hike in credit-score & slower growth over 2yrs have paid-off.

Macquarie on Bandhan BK

O-P, TP Rs 250

PAT miss due to higher opex, partly offset by lower credit costs

All eyes on forward flow into stress pool.

Management targets credit costs of 1.8%-2% in FY25F

Valuations (1x FY26F P/B), risk reward appears favourable 

CLSA on Bandhan BK

O-P, TP Rs 240

Asset quality better than feared

Slippages range bound, +ve sign in microfinance biz

While there are fears of “kitchen-sinking”, derive comfort from recent audit as well as fact that Bandhan recognised more stress than peers over FY23 & FY24

Nomura on Bandhan BK

Upgrade to Neutral, TP Rs 180

Steady show in tough environment

Benign valuations but challenging MFI sector outlook keeps us cautious

Healthy loan and deposits growth; asset quality deteriorates on higher slippages

Kotak Inst Eqt on Bandhan BK

Buy, TP Rs 250

Healthy 30% yoy earnings growth, led by 17% yoy operating profit growth & about 5% yoy decline in provisions

Slippages 3.5%, while credit cost 2%

Early warning indicators suggest Bks portfolio could be resilient in this MFI cycle

HSBC on Bk of Baroda

Hold, TP Rs 270

2Q : High non-core income offset pressure from NIM, fee income, & ad hoc provisions; asset quality stable

Over FY25-27e, expect stable operating profitability, but credit cost normalisation will likely impact ROA

EPS growth outlook muted

Nomura on Bk of Baroda

Buy, TP Rs 290

Healthy RoA delivery; steady asset quality

Favourable risk-reward

Steady asset quality; strong loan growth delivery. Softer core fees the only blip

Expect to deliver RoA of 1.1% & ROE of 15-16% over FY25F-27F

Jefferies on Bk of Baroda

Buy, TP Rs 310

Profit of Rs52bn, up 23% YoY & higher than est.

While loan growth improved to 12% YoY, NII growth lagged at 7% due to fall in NIMs & are disappointed with 18% fall in fees

Deposit growth is slow at 9% 

Credit quality held-up well

GS on IDFC First BK

Sell, TP Rs 64

2Q PAT miss of 71% vs est. driven by sharp uptick in credit costs to c3.2% (+130bps QoQ & +120bps vs GSe) as co created contingent provisions of Rs3.15bn towards stress in MFI book & Rs2.53bn towards accelerated provisioning of legacy toll a/c

Asset Quality saw a sharp deterioration 

Core PPOP for the bank grew by 28% yoy/stable qoq (-7% vs GSe) as NII and non-interest income were lower which was partially offset by lower opex in 2Q

MOSL on IDFC First Bk

Neutral, TP Rs 73

PPoP inline; elevated provisioning drags earnings

Credit cost guidance raised to 2.2-2.25%

Deposits growth robust; margin moderates 4bp QoQ

Cut earnings by 18%/5% for FY25E/26E & est. FY26E RoA/RoE of 1.0%/11.0%

CLSA on ICICI BK

O-P, TP Rs 1600

Delivered yet another steady qtr

B/S growth remained in mid-teens, while NIM moderated 5-10bps sequentially

PPOP grew faster than NII, driven by operating leverage GNPL ratio stable & credit costs benign at 40bps

MOSL on ICICI BK

Buy, TP Rs 1500

All-round performance; solidifies its leadership position

Asset quality improves slightly; cost control impressive

Business growth robust; NIMs moderate 9bp QoQ

Increase EPS est. by 2.8%/1.8% for FY25/FY26 & est. RoA/RoE of 2.19%/17.4% in FY26.

Nomura on ICICI BK

Buy, TP Raised to Rs 1575

Flawless quarter; a cut above the rest

Strong loan and deposits growth; robust asset quality performance

Raise FY25-27F EPS est. by 2-3%, factoring in lower opex & slightly lower credit cost

GS on ICICI BK

Neutral, TP Rs 1361

Qood quality earnings beat in a tough macro

Slippages better than expectations while credit cost was c.40bps of loans, in line

On operational profits as well, bank managed to surprise +vely with core PPOP growth of 12% YOY, 3% higher than GSe

Buy, TP Rs 363

2Q: EBITDA margin at 30.3% (vs esti: 24.4%)

2Q better than expected, mainly driven by +ve surprise on gross margin, which was up by 449bp y-y

Notably, BEL’s gross margin has remained strong in past 5 qtrs. averaging 49%

OW, TP Rs 1150

Results beat estimate/consensus.

Standalone volumes and costs did better, partially offset by lower realizations, as share of VAP moderated.

Global subsidiaries’ performances were relatively muted given the weak global environment

Sell. TP Rs 2375

2Q adjusted EBITDA of Rs6.2 bn, 15% above est, driven by a higher-than-expected vol & lower other expenses

Near-term demand outlook for off-highway segment remains muted in EU & US regions

Valuations remain expensive

Jefferies on MGL

Buy, TP Cut to Rs 1740

Ebitda inline with JEFe with vols 3% ahead & Ebitda margins slightly below ests

Expect strong vol growth to continue on accelerated RO additions & upgrade FY25/26E vol assumptions by 4%-7%.

Realloc of APM gas wld lead to higher volatility

Nomura on MGL

Downgrade to reduce, TP Rs 1250

2Q below estimates; near term outlook weak & change in policy a concern

2Q missed estimates on lower margins, while vol growth sustains at a strong clip

Management remains optimistic on healthy vol growth of 10% in FY25

CITI on HPCL

Buy, TP Rs 420

Subdued 2Q with EBITDA at Rs22bn which, whilst up 38% qoq, was below Rs37bn est. 

Miss was on a/c of a multitude of factors, all of which may reverse course in 2H – 

Debt also saw unexpected jump in 2Q, which too had an element of 1-offs as per mgmt.

Nomura on HPCL

Buy, TP Rs 435

2Q impacted by LPG under-recoveries & lower refining margins

Vizag bottom upgradation and Rajasthan refinery to be commissioned by end-FY25

Cut FY25F EBITDA by 25% to reflect HPCL’s 1H performance & factoring higher LPG under recoveries

Jefferies on Torrent Pharma

Buy, TP raised to Rs 3850

2Q revenue and Ebitda grew 9% & 14% YoY

India sales grew 13% YoY which drove gross margins to a multi year high

Qtr impacted by inslulin plant shutdown, adjusted for which rev & Ebitda grew 10% & 16%

CLSA on Torrent Pharma

Hold, TP Rs 3090

2Q missed est due to shutdown of its insulin plant Expected to restart in Dec 2024 & to recover shortfall with no impact on its FY25 rev

Maintained guidance of double-digit rev growth & 50bp-100bp EBIDTA margin expansion in FY25

HSBC on Torrent Pharma

Buy, TP Rs 4035

Positive gross margin surprise despite c4% rev miss on scheduled shutdown of insulin plant

EBITDA margin outlook remains robust 

Consistent market share gains (incl. inorganic) in India a potential catalyst

Nomura on Torrent Pharma

Neutral, TP raised to Rs 3621

2Q in-line

A defensive stock with strong earnings visibility; higher val can sustain in near term

EBITDA margin expanded 149bp y-y & in-line 

Management retained its guidance of EBITDA margin expansion of 50-100bp each yr

Kotak Inst Eqt on Interglobe Aviation

Buy, TP Rs 5200

Sharp miss in PBT driven by transient issues—groundings & related compensation, as well as unexpected fuel inflation

Another overhang was heightened seasonality 

Overall demand trends remain healthy

Lower FY2027 est. by 10%

MOSL on Interglobe Aviation

Neutral, TP Rs 4130

Net loss led by seasonality but guidance remains intact

Currently, over 60 aircraft are grounded due to P&W engine issues, & management believes this number would be in mid-40s in FY26

Trading at 10x FY26E EV/EBITDAR

Jefferies on Interglobe Aviation

2Q PAT loss worse than est at Rs9.9bn (est: Rs3.5bn)

Driven by higher costs of groundings & related (inefficient) capacity mitigating measures

IndiGo’s story, however, remains intact 

GS on Interglobe Aviation

Buy, TP cut to Rs 4800

Q2 EPS of Rs(25.7) & PBT(ex-FX) of Rs(17.3) below GSe

While ASK/RPK largely in-line, yields were 2.5% above GSe (up 2.5% yoy, vs GSe at flat yoy), driving a revenue beat, CASK were higher than GSe, driven by higher fuel & lease exp

CLSA on CreditAccess

Downgrade to Hold, TP cut to Rs 910 from Rs1800

2Q net profit halved YoY/QoQ, dragged down by an elevated 6.5% (annualised) credit cost

Management trimmed its loan growth guidance to 8%-12% & raised its credit cost guidance to 4.5-5% for FY25CL

Nomura on CreditAccess

Reduce, TP Rs 850

Q2 PAT of Rs 1.9bn, down 46%/ 53% y-y/ q-q (35% below est.), leading to RoA/RoE of 2.6%/10.7% (vs 5.5%/ 24.7% in 2Q24)

Credit cost at 7% in 2Q (vs 2.8% in 1Q)higher than 5% est. 

Guidance revised sharply across metrics

The rupee witnessed range-bound trade and appreciated by just 1 paisa to 84.07 against the US dollar in initial deals on Monday, weighed down by significant foreign fund outflows and the strength of the American currency in the overseas market.

We zoom in on the prospects of Manappuram Finance, as also the prospects of two other stocks — NHPC,andSBI Cards and Payment Service

Crude oil futures traded lower on Monday morning after Israel’s retaliatory attack on Iran over the weekend, which avoided oil and nuclear facilities. This eased the market concerns about possible crude oil supply disruptions in the West Asia region. At 9.17 am on Monday, January Brent oil futures were at $72.40, down by 4.27 per cent, and December crude oil futures on WTI (West Texas Intermediate) were at $68.60, down by 4.43 per cent. November crude oil futures were trading at ₹5782 on Multi Commodity Exchange (MCX) during the initial hour of trading on Monday against the previous close of ₹6040, down by 4.27 per cent, and December futures were trading at ₹5776 against the previous close of ₹6023, down by 4.10 per cent.

Indian benchmark indices Sensex and Nifty opened positively on Monday, with Sensex up 0.43% at 79,741.46 and Nifty gaining 0.33% at 24,261.15, amid mixed global cues. Despite this, sentiment remains cautious, influenced by sustained FII selling and weak earnings, said Ajit Mishra, SVP at Religare Broking. Foreign Portfolio Investors (FPIs) have sold ₹1,02,931 crore in October, impacting market momentum. 

The dollar index rallied for the fourth consecutive week and is keeping intact the overall uptrend. The index has risen breaking above the resistance at 104. It closed the week at 104.25, up 0.74 per cent. A strong rise in the US Treasury yields is aiding the greenback to retain its strength. Markets turning slightly cautious ahead of the US Presidential Election next month is also giving the dollar a safe-haven support. The uptrend is strong, and we expect the rally in the dollar to continue for another couple of weeks until the outcome of the US elections is known.

Sudarshan Chemical (SCIL) announced a large acquisition of Germany-based Heubach Group at a highly discounted valuation on October 11. The speciality chemicals player manufactures colour pigments and is the largest domestic player.

While the leap the company has made is commendable and at the opportune moment, investors may hold the stock till further details emerge. The roadmap in turning around the acquisition, part of which turned insolvent, and incremental growth from the acquisition need to be articulated by the company before investing in the stock. The stock trading at 28 times one-year forward earnings also captures the deal enthusiasm and the company prospects in the long term.

Here is what the charts say about the shares of Crompton Greaves Consumer Electricals, Inox Wind and Trent

Nifty 50 (24,181) and Bank Nifty (50,787) depreciated 2.7 per cent and 2.5 per cent last week. The former posted a weekly loss for the fourth time in a row, indicating strong selling pressure. Here, we analyse derivatives data of both indices.

The sharp decline on Friday has changed the outlook to negative for the stock of IndusInd Bank (₹1,041.60). Support levels are at ₹990 and ₹807. A close below the latter will even change the long-term outlook to negative.

In the quarter ended September 2024, NTPC’s consolidated revenue from operations and EBITDA dipped around 8 per cent each year on year to ₹44,696.3 crore and ₹11,655.2 crore respectively. After the results announcement last Thursday post-market hours, the stock dropped 3 per cent on Friday. In fact, the shares of NTPC have corrected 11 per cent from its 52-week high of ₹443.2 recorded on September 30, 2024. However, on the back of strong tailwinds, BSE Power had a stellar run during the last 12 months, rising 80 per cent. NTPC too, in line, recorded a 72 per cent rise during the same period.

Following Dusshera, the festival season peaks in the coming week, with Dhanteras and Diwali round the corner. As we start celebrating the festival of wealth and prosperity, gold continues to shine as a symbol of tradition. This year, the fireworks started early for gold investors with prices on a steady rise since the beginning of 2024.

‘ Wu ji bi fan’ as Jacki Chan says in Karate Kid, that is, when things reach an extreme, they can only move in the opposite direction. As did the IT stocks and Nifty IT Index after peaking in a frenzy in early 2022. However, in the last one year, they have attempted a strong recovery piggy-backing on the AI theme, and Nifty IT is now 6.5 per cent above the 2022 peak. It is not clear though if this will sustain. While recent Q2 results indicate the slowdown may have bottomed out, the pace of revenue growth still remains underwhelming.

The National Stock Exchange (NSE) has relaxed the definition of what constitutes an inactive trading account. 

The period for marking an account as inactive has been changed from 12 to 24 months. Existing clients who are inactive as per earlier guidelines, but are active as per revised guidelines, may be considered as active for trading after updating their details, the exchange said in a circular on Friday. 

Jefferies on ICICI Bank: Maintain Buy on Bank, raise target price at Rs 1550/Sh from Rs 1460/Sh (Positive)

Investec on ICICI Bank: Maintain Buy on Bank, raise target price at Rs 1450/Sh from Rs 1350/Sh (Positive)

MOSL on ICICI Bank: Maintain Buy on Bank, raise target price at Rs 1500/Sh from Rs 1400/Sh (Positive)

Nomura on ICICI Bank: Maintain Buy on Bank, raise target price at Rs 1575/Sh from Rs 1420/Sh (Positive)

Macquarie on ICICI Bank: Maintain Buy on Bank, raise target price at Rs 1350/Sh from Rs 1300/Sh (Positive)

Citi on ICICI Bank: Maintain Buy on Bank, raise target price at Rs 1600/Sh from Rs 1547/Sh (Positive)

IIFL on ICICI Bank: Upgrade to Buy on Bank, raise target price at Rs 1480/Sh from Rs 1370/Sh (Positive)

CLSA on Bandhan Bank: Maintain Outperform on Bank, target price at Rs 240/Sh (Positive)

Nomura on Bandhan Bank: Upgrade to Neutral on Bank, raise target price at Rs 180/Sh (Positive)

HSBC on Shriram Fin: Maintain Buy on Company, raise target price at Rs 3275/Sh (Positive)

Nomura on Shriram Fin: Maintain Buy on Company, raise target price at Rs 3800/Sh (Positive)

Jefferies on Indigo: Maintains Buy on Company, cut target price at Rs 5100/Sh (Neutral)

Kotak on Indigo: Maintains Buy on Company, cut target price at Rs 5200/Sh (Neutral)

HSBC on Bank Baroda: Maintains Hold on Bank, target price at Rs 270/Sh (Neutral)

Investec on Bank Baroda: Maintains Hold on Bank, cut target price at Rs 260/Sh (Neutral)

IIFL on Bank Baroda: Maintains Buy on Bank, cut target price at Rs 300/Sh (Neutral)

Nomura on Bank Baroda: Maintains Buy on Bank, raise target price at Rs 290/Sh (Neutral)

HSBC on OLA Elec: Maintains Buy on Company, cut target price at Rs 110/Sh (Neutral)

UBS on HPCL: Maintains Buy on Company, target price at Rs 445/Sh (Neutral)

MS on JSW Steel: Maintains Overweight on Company, target price at Rs 1150/Sh (Neutral)

Jefferies on Coal Ind: Maintains Buy on Company, cut target price at Rs 570/Sh (Neutral)

Jefferies on MGL: Maintains Buy on Company, target price at Rs 1740/Sh (Neutral)

MOSL on IDFC First Bank: Maintain Neutral on Bank, target price at Rs 73/Sh (Neutral)

Nuvama on IDFC First Bank: Maintain Hold on Bank, cut target price at Rs 60/Sh (Negative)

CLSA on REC: Maintain Outperform on Company, target price at Rs 680/Sh (Positive) 

Jefferies on JSW Energy: Maintain Buy on Company, target price at Rs 860/Sh (Positive) 

Citi on ICICI Bank: Maintain Buy on Bank, raise target price at Rs 1600/Sh (Positive) 

Macquarie on Bandhan Bank: Maintain Buy on Bank, target price at Rs 250/Sh (Positive) 

Citi on HPCL: Maintain Buy on Company, target price at Rs 420/Sh (Neutral) 

Kotak on JSW Steel: Maintain Reduce on Company, target price at Rs 925/Sh (Neutral) 

CLSA on Credit Access: Downgrade to Hold on Company, cut target price at Rs 910/Sh (Negative)

PPFAS Asset Management is looking to set up a subsidiary in GIFT City and expects to launch operations there in the next six months, Rajeev Thakkar, Chief Investment Officer and Director, has said. 

“We are setting up a subsidiary in GIFT City. We have applied to GIFT city regulator for subsidiary registration. The first product from this subsidiary could come in six months”, Thakkar told businessline in an interview. 

Shares of Deepak Builders and Engineers will be listed at the bourses today. The IPO, which subscribed around 41.54 times, set the price at ₹192-203, at the upper end of the price range. 

The initial public offering of Deepak Builders and Engineers closed with an overall subscription of 41.54 times, as non-institutional and retail investors poured in money. The ₹260.04 crore comprised a fresh issue (₹217.21 crore) and an OFS (₹42.83 crore). 

Shares of Waaree Energies will be listed at the exchanges on Monday. The company has fixed the IPO price at ₹1,503, and at the upper end of the price band, ₹1,427-1,503. The IPO generated a strong response from all categories of investors, especially institutional investors, who subscribed 76.4 times. 

“Our Company has filed the listing application with the NSE and BSE on October 25, 2024. Our company has received the listing and trading approval from BSE and NSE and the trading will commence on October 28, 2024,” it said in a release to the exchanges.

Domestic markets are expected to open positive on Monday amid mixed global cues. According to deep discount broker, SAS Online’s breadth analysis, Only 15 per cent of NSE stocks are trading above their 50-day moving average, and just 9 per cent are above their 20-day moving average, suggesting a possible relief but overall, a strong bearish grip. The brokerage said the number of stocks with RSI in the bullish zone has dropped to 20%, indicating exhaustion in upward momentum. Additionally, the Bull Bear Index of trend indicators like MACD also points to muted breadth, it further said.

SHREE RENUKA SUGARS: CO UNIT APPROVED THE CAPEX INVESTMENT OF RUPEES 184 CR FOR THE EXPANSION IN THE CANE CRUSHING CAPACITY FROM 4,000 TCD TO 7,000 TCD AND SETTING UP OF 15 MW POWER PLANT AT UNIT’S PLANT

ITD Cementation, Adani Enterprises, Piramal Pharma, Soha, Axis Bank, Max Financial, Thermax, L&T, KRN Heat Exchanger, Kings Infra, Godrej Properties, Sprayking, Bharti Airtel, Sun Pharma, Adani Power, Indian Oil, Ambuja Cements, Punjab National Bank, Suzlon Energy, BHEL, Indian Bank, JSW Infra Motilal Oswal, Tata Tech, BPCL, Oil India, DMart

ARCHEAN CHEMICAL: CO APPROVES GBP 15M (163 CR RUPEES) INVESTMENT IN CLAS-SIC WAFER FAB (UK) AND USD 12M (130 CR RUPEES) IN OFFGRID ENERGY LABS (US) TO ADVANCE SEMICONDUCTOR AND ENERGY STORAGE INITIATIVES

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Dial: +91 22 6280 1144

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IDFC First Bank : (replay)

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Yes Bank : (replay)

EKI Energy Serv : (replay)

Balkrishna Ind : (replay)

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Inox Green Ene : (replay)

Results today …

Recent interviews …

ABDL, ADANIENT, ADANIPORTS, AMIORG, APARINDS, APLAPOLLO, ASAHIINDIA, ASKAUTOLTD, BLUEJET, CANBK, CGCL, CIPLA, CONCOR, DEEPAKFERT, EDELWEISS, EMUDHRA, ENGINERSIN, FIVESTAR, FLUOROCHEM, FORCEMOT, GENUSPOWER, GHCL, GODREJAGRO, GREENLAM, HCC, HONAUT, HUDCO, KAYNES, KINGFA, KIRLOSBROS, LXCHEM, MANYAVAR, MARICO, MARUTI, MOTISONS, MPSLTD, MTARTECH, PCBL, PDSL, POWERINDIA, PRESTIGE, REDINGTON, SBICARD, SFL, SHAREINDIA, SOMANYCERA, SSWL, STARHEALTH, SUVEN, SYMPHONY, TDPOWERSYS, TIRUMALCHM, UDS, VAKRANGEE, VASCONEQ, VGUARD, VMART, VOLTAS, WEBELSOLAR

AARTIPHARM, ABSLAMC,ADFFOODS, ADANIPOWER, AJANTPHARM, AJMERA, AMBUJACEM, ANANTRAJ, ARVIND, ARVINDFASN, BHARATWIRE, BHARTIARTL, BHARTIHEXA, BHEL, CAMS, CARTRADE, COCKERILL, DALMIASUG, DPABHUSHAN, DEEPINDS, ELANTAS, FEDERALBNK, FSL, GAEL, GALLANTT, GENESYS, GILLETTE, GREENPANEL, GREENPLY, HEIDELBERG, IDEAFORGE, IGL, INDGN, INDIANB, INTERARCH, IOC, JBMA, JISLJALEQS, JKIL, JSWINFRA, KFINTECH, KPIL, KSL, LGBBROSLTD, LICHSGFIN, LMW, MAHSEAMLES, MOTILALOFS, NESCO, NILKAMAL, NOCIL, NORTHARC, PARADEEP, PARAS, PFIZER, PNB, POLYMED, QUESS, RAILTEL, RAMRAT, RBA, RENUKA, SAPPHIRE, SHAILY, SIS, SJS, SKIPPER, SPANDANA, STOVEKRAFT, STYRENIX, SUDARSCHEM, SUMICHEM, SUNPHARMA, SUPRIYA, TATATECH,TMD, UNIECOM, VESUVIUS, WELSPUNLIV

AMBUJACEM

* Revenue expected at Rs 6621 crore versus 7424 Rs crore

* EBITDA expected to be seen at Rs 904 crore versus Rs 1305 crore

* EBITDA margin expected to be seen at 13.65% versus 17.59% 

* Net profit expected to be seen at Rs 457 crore versus Rs 793 crore

BHARTIARTL

* Revenue expected at Rs 41218 crore versus 37043 Rs crore

* EBITDA expected to be seen at Rs 21729 crore versus Rs 19513 crore

* EBITDA margin expected to be seen at 52.71% versus 52.68% 

* Net profit expected to be seen at Rs 4719 crore versus Rs 2911 crore

BHEL

* Revenue expected at Rs 5970 crore versus 4944 Rs crore

* EBITDA expected to be seen at Rs -23 crore versus Rs -387 crore

* EBITDA margin expected to be seen at -0.38% versus -7.84% 

* Net profit expected to be seen at Rs -62 crore versus Rs -238 crore

FEDERALBNK

* NII expected at Rs 2377 crore versus 2056 Rs crore

* EBIT expected to be seen at Rs 1489 crore versus Rs 1324 crore

* EBIT margin expected to be seen at 62.75% versus 64.41%

* Net profit expected to be seen at Rs 1001 crore versus Rs 953 crore

IGL

* Revenue expected at Rs 3629 crore versus 3822 Rs crore

* EBITDA expected to be seen at Rs 592 crore versus Rs 656 crore

* EBITDA margin expected to be seen at 16.31% versus 17.19% 

* Net profit expected to be seen at Rs 460 crore versus Rs 552 crore

IOC

* Revenue expected at Rs 183212 crore versus 193844 Rs crore

* Net profit expected to be seen at Rs 4177 crore versus Rs 3528 crore

LICHSGFIN

* NII expected at Rs 2055 crore versus 2152 Rs crore

* EBIT expected to be seen at Rs 1816 crore versus Rs 1893 crore

* EBIT margin expected to be seen at 84.38% versus 87.95% 

* Net profit expected to be seen at Rs 1207 crore versus Rs 1188 crore

SUMICHEM 

* Revenue expected at Rs 1021 crore versus Rs 903 crore

* EBITDA expected to be seen at Rs 214 crore versus Rs 187 crore

* EBITDA margin expected to be seen at 20.95% versus 20.70% 

* Net profit expected to be seen at Rs 162 crore versus Rs 143 crore

SUNPHARMA 

* Revenue expected at Rs 13326 crore versus Rs 12192 crore

* EBITDA expected to be seen at Rs 3761 crore versus Rs 3213 crore

* EBITDA margin expected to be seen at 28.22% versus 26.36% 

* Net profit expected to be seen at Rs 2911 crore versus Rs 2375 crore

TATATECH 

* Revenue expected at Rs 1307 crore versus Rs 1269 crore

* EBIT expected to be seen at Rs 210 crore versus Rs 201 crore

* EBIT margin expected to be seen at 16.06% versus 15.87% 

* Net profit expected to be seen at Rs 174 crore versus Rs 162 crore

* AARTIIND

* BANDHANBNK

* DIXON

* ESCORTS

* IDFCFIRSTB

* INDIAMART

* LTF

* MANAPPURAM

* NMDC

* RBLBANK

𝐅𝐈𝐈𝐬 sold : ₹1,00,242 crore 🔴

𝐃𝐈𝐈𝐬 bought : ₹97,091 crore 🟢

#FIIs have done the highest selling in any Month ever.

𝐈𝐧 𝐘𝐞𝐚𝐫 𝟐𝟎𝟐𝟒 𝐬𝐨 𝐟𝐚𝐫 :-

𝐅𝐈𝐈𝐬 sold : ₹2,25,275 crore 🔴

𝐃𝐈𝐈𝐬 bought : ₹4,37,703 crore 🟢

Financial Results

Press Release

Presentation

Financial Results

Presentation

Weekly snapshot: Indian equity benchmarks closed in the red zone while broader markets underperformed as mid and small cap stocks fell sharply during the week. 

Indices Performance: Nifty 50 has closed with a loss of 2.71 percent while Nifty Bank performed inline and closed with a loss of 2.51 percent. 

Weekly Fund-Flow Activities: During the week, Foreign Institutional Investors have sold equities worth of Rs 20024.0 cr while Domestic Institutional Investors have bought equities of Rs 22915.0 cr in cash segment. 

Macro Data: Inflation based on the core price index and nonfarm payrolls for the U.S., monetary policy from Bank of Japan, and manufacturing PMIs from major global economies are among the macroeconomic events scheduled for the upcoming week 

Weekly Outlook: The next week is expected to be a week of watching quarterly earnings and institutional activities, in addition to macro announcements and U.S elections.

Net Profit at Rs 11746 cr vs poll of Rs 11029 cr

NII at Rs 20048 cr vs poll of Rs 19995 cr. 

Gross NPA at 1.97% vs 2.15% QoQ. 

Net NPA at 0.42% vs 0.43% QoQ. 

Net Interest Margin at 4.27% vs 4.36% QoQ. 

Gross slippages at Rs 5073 cr vs poll of Rs 5916 cr. 

Financial Results

Presentation

Net Profit at Rs 553 cr vs poll of Rs 544 cr 

NII at Rs 2200 cr vs poll of Rs 2254 cr. 

Gross NPA at 1.6% vs 1.7% QoQ. 

Net NPA at 0.5% vs 0.5% QoQ. 

Symbol: WAAREEENER 

Series: Equity “B Group” 

BSE Code: 544277 

ISIN: INE377N01017 

Face Value: Rs 10/- 

Issued Price: Rs 1503/- per share

Symbol: DBEIL 

Series: Equity “B Group” 

BSE Code: 544276 

ISIN: INE0OPA01019 

Face Value: Rs 10/- 

Issued Price: Rs 203/- per share

Turnover: (NSE + BSE)

Cash Volume: 114725.74 + 7512.62 Total: 122238.36

F&O Volume: 863716.72 + 38818766.5 Total: 39682483.22

Provisional Cash

FII/FPI: NET SELL: -3036.75 

(14209.84 - 17246.59) 

DII: NET BUY: 4159.29 

(15203.44 - 11044.15)

Indian food delivery giant Swiggy has slashed its IPO valuation again, to $11.3 billion, 25 per cent below the initial goal of $15 billion as market volatility and the lacklustre debut of Hyundai India weigh on sentiment, two sources said on Sunday.

BlackRock and Canada Pension Plan Investment Board (CPPIB) will invest in the $1.4 billion IPO, which will be the country’s second-biggest stock offering this year, the sources told Reuters.

Here’s an interesting stock idea: The stock idea that we have for you today is Thermax. The stock has surged about 5 per cent on Friday breaking above key resistance on Friday. The price action indicates that a fresh leg of upmove has begun. The outlook is bullish and the share price can go up in the coming days. Check out the latest episode of bl.Today’s Pick to learn more.

Last week we said that #Nifty can bounce back from its support around 24,400. But that view has gone wrong. The fall last week confirms a head and shoulder pattern on the chart. That leaves the danger of seeing more fall in the short-term. A short-lived recovery is also possible before another leg of fall happens. However, from a big picture there are good chances that we could be in the last leg of this correction. So, we expect the broader uptrend to resume after one more leg of fall from here. #Nifty can fall to 23,500-23,000 on a break below 23,900. After this fall, the overall uptrend can resume. #NiftyBank index can fall to 49,700-49,400 and then rise back to 51,000-52,000 again.

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Fomento Economico Mexicano (Pre market) (Sector- Retailer)

ON Semiconductor Corporation (Pre market) (Sector- Technology)

Koninklijke Philips N.V. (Pre market) (Sector- Healthcare)

CenterPoint Energy, Inc. (Pre market) (Sector- Energy)

Waste Management, Inc. (Post market) (Sector- Miscellaneous)

Welltower Inc. (Post market) (Sector- Real Estate)

Cadence Design Systems, Inc. (Post market) (Sector- Technology)

Ford Motor Company (Post market) (Sector- Automobile)

Brown & Brown, Inc. (Post market) (Sector- Financial)

SBA Communications Corporation (Post market) (Sector- Real Estate)

Regency Centers Corporation (Post market) (Sector- Real Estate)

F5, Inc. (Post market) (Sector- Technology)

Encompass Health Corporation (Post market) (Sector- Healthcare)

Several equity new fund offerings (NFOs) launched this year have been on caught the wrong side of the recent market meltdown.

More than a third, or 50 out of 145 such funds, are trading below their net asset values (NAVs), according to data collated from Value Research. Investors purchase units of a new scheme at the face value of the units, which is typically ₹10.

The short-term outlook for Thermax is bullish. The stock surged about 4.9 per cent on Friday and has closed on a strong note. This rise has taken the share price well above a key resistance level of ₹5,300. It also indicates that a new leg of upmove has begun. The level of ₹5,300 will now act as a good resistance-turned-support.