Stock market live updates: Sensex, Nifty set for weak opening amid FPI selling pressure

ADANI TOTAL GAS: CO HAS RECEIVED A NOTIFICATION FROM GAIL (INDIA) LTD. REGARDING A 16% REDUCTION IN ADMINISTERED PRICE MECHANISM (APM) DOMESTIC GAS ALLOCATION, EFFECTIVE OCT 16, 2024

Jefferies on Polycab: Maintain Buy on Company, target price at Rs 8315/Sh (Positive) 

Bernstein on Infosys: Maintain Buy on Company, raise target price at Rs 2270/Sh from Rs 2100/Sh (Positive) 

GS on Havells: Maintain Buy on Company, raise target price at Rs 2100/Sh (Positive) 

Macquarie on Axis Bank: Maintain Outperform on Bank, target price at Rs 1400/Sh (Positive) 

MS on Axis Bank: Maintain Overweight on Bank, target price at Rs 1445/Sh (Positive) 

Emkay on M&M Fin: Upgrade to Buy on Company, raise target price at Rs 308/Sh (Positive) 

MS on LTIM: Maintain Overweight on Company, target price at Rs 7150/Sh (Positive) 

BofA on Gas distributers: APM allocation for CNG reduced. (Neutral) 

Jefferies on Havells: Maintain Hold on Company, cut target price at Rs 1870/Sh (Neutral) 

BofA on Manappuram: Maintain Buy on Company, cut target price at Rs 220/Sh (Neutral) 

Investec on Infosys: Maintain Sell on Company, cut target price at Rs 1700/Sh (Neutral) 

Nomura on Infosys: Maintain Buy on Company, target price at Rs 2130/Sh (Neutral) 

MS on Infosys: Maintain Overweight on Company, target price at Rs 2150/Sh (Neutral) 

Macquarie on Wipro: Maintain Outperform on Company, target price at Rs 670/Sh (Neutral) 

Nomura on Wipro: Maintain Outperform on Company, target price at Rs 680/Sh (Neutral) 

MS on Wipro: Maintain Underweight on Company, target price at Rs 500/Sh (Neutral) 

Jefferies on Wipro: Maintain Underperform on Company, target price at Rs 465/Sh (Neutral) 

Investec on Havells: Maintain Hold on Company, cut target price at Rs 1850/Sh versus Rs 1910/Sh (Neutral) 

Citi on Havells: Maintain Neutral on Company, target price at Rs 1950/Sh (Neutral) 

Investec on Axis Bank: Maintain Buy on Bank, cut target price at Rs 1298/Sh versus Rs 1340/Sh (Neutral) 

Citi on Axis Bank: Maintain Buy on Bank, target price at Rs 1290/Sh (Neutral) 

IIFL on Axis Bank: Maintain Buy on Bank, target price at Rs 1360/Sh (Neutral) 

Bernstein on Axis Bank: Maintain Outperform on Bank, target price at Rs 1250/Sh (Neutral) 

DAM on Axis Bank: Maintain Buy on Bank, target price at Rs 1360/Sh (Neutral) 

Nuvama on Axis Bank: Maintain Buy on Bank, target price at Rs 1335/Sh (Neutral) 

Nomura on Axis Bank: Maintain Buy on Bank, target price at Rs 1380/Sh (Neutral) 

Investec on LTIM: Maintain Sell on Company, raise target price at Rs 5600/Sh (Neutral) 

Nomura on LTIM: Maintain Reduce on Company, target price at Rs 5140/Sh (Neutral) 

Macquarie on United Spirits: Maintain Underperform on Company, target price at Rs 1100/Sh (Neutral) 

JP Morgan on Manappuram: Downgrade to Underweight on Company, cut target price at Rs 170/Sh (Negative) 

MS on Manappuram: Downgrade to Underweight on Company, cut target price at Rs 170/Sh (Negative) 

Jefferies on Manappuram: Downgrade to Hold on Company, cut target price at Rs 167/Sh (Negative) 

MS on Tata Chem: Maintain Underweight on Company, cut target price at Rs 880/Sh (Negative) 

MS on Nestle: Maintain Underweight on Company, target price at Rs 2114/Sh (Negative)

Domestic markets are expected to open weak on Friday despite stable global markets. International stock markets are mixed after the ECB cut rates further by 25 bps. Stocks across Japan, Taiwan, and Singapore are up in early trading on Friday. However, Gift Nifty points at 24,730, indicating a gap-down opening of 100 points.

Analysts expect the downtrend to continue due to selling by foreign portfolio investors. So far in October, FPIs sold nearly Rs 74,000 crore worth of shares in the cash segment, a record. 

HDFC Securities has announced the launch of its new Wealth Advisory offering, marking a significant milestone in the company’s journey as a trusted name in equity research, broking, and financial distribution. With over 20 years as a stockbroker and a wide-reaching presence of over 5.7 million clients digitally and across 250+ branches spread throughout the country, HDFC Securities is now expanding its service portfolio to provide comprehensive wealth advisory solutions for High-Net-Worth Individuals (HNIs), Ultra-High-Net-Worth Individuals (UHNIs), Family Offices, and Corporate Treasuries. With this new offering, HDFC Securities aims to provide personalized, sophisticated financial solutions, meeting the growing demand for wealth advisory services in India.

1 BANDHANBNK

2 CHAMBLFERT

3 GNFC

4 GRANULES

5 HINDCOPPER

6 IDFCFIRSTB

7 IEX

8 LTF

9 MANAPPURAM

10 NATIONALUM

11 PNB

12 RBLBANK

13 SAIL

14 TATACHEM

ANANDRATHI 

Interim Dividend - Rs. - 7.0000

HBEL

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

HEG 

Stock Split From Rs.10/- to Rs.2/-

SACHEMT 

Stock Split From Rs.10/- to Rs.2/-

SUMEETINDS 

Resolution Plan -Suspension 

TCS 

Interim Dividend - Rs. - 10.0000

Actual: 4.6%

Expected: 4.5%

Previous: 4.7%

Industrial Production (Y/Y)

Actual: 5.4%

Expected: 4.6%

Previous: 4.5%

(Data better than estimates)

AURIONPRO,BAJAJHFL, BALUFORGE, BEPL, CGPOWER, CUB, CYIENTDLM, GRAVITA, HFCL, JSFB, MAHLOG, MAHSCOOTER, NELCO, RAJRATAN, ROUTE, SOLARA, SPLPETRO, SWARAJENG, ULTRACEMCO, UNIONBANK, WENDT

DALBHARAT, HDFCBANK, INDIAMART, KOTAKBANK, LLOYDSENGG, MCX, NETWEB, PCJEWELLER, PSB, RBLBANK, ROSSARI, SESHAPAPER, TECHM, UCOBANK

DALBHARAT

* Revenue expected at Rs 3120 crore versus Rs 3149 crore

* EBITDA expected to be seen at Rs 469 crore versus Rs 589 crore

* EBITDA margin expected to be seen at 15.03% versus 18.70% 

* Net profit expected to be seen at Rs 91 crore versus Rs 118 crore

HDFCBANK 

* NII expected at Rs 30342 crore versus Rs 27385 crore

* EBIT expected to be seen at Rs 24589 crore versus Rs 22693 crore

* EBIT margin expected to be seen at 59.30% versus 59.57% 

* Net profit expected to be seen at Rs 16425 crore versus Rs 15976 crore

INDIAMART

* Revenue expected at Rs 343 crore versus Rs 294 crore

* EBITDA expected to be seen at Rs 121 crore versus Rs 80 crore

* EBITDA margin expected to be seen at 35.27% versus 27.21% 

* Net profit expected to be seen at Rs 116 crore versus Rs 69 crore

KOTAKBANK 

* NII expected at Rs 7015 crore versus Rs 7191 crore

* EBIT expected to be seen at Rs 5219 crore versus Rs 4610 crore

* EBIT margin expected to be seen at 70.21% versus 73.22% 

* Net profit expected to be seen at Rs 3428 crore versus Rs 3191 crore

MCX

* Revenue expected at Rs 237 crore versus Rs 165 crore

* EBITDA expected to be seen at Rs 137 crore versus Rs -287 crore

* EBITDA margin expected to be seen at 57.80% 

* Net profit expected to be seen at Rs 115 crore versus Rs -19 crore

TECHM 

* Revenue expected at Rs 13448 crore versus Rs 13005 crore

* EBIT expected to be seen at Rs 1216 crore versus Rs 1104 crore

* EBIT margin expected to be seen at 9.04% versus 8.49% 

* Net profit expected to be seen at Rs 991 crore versus Rs 851 crore

AETHER, ELECON, GANESHHOUC, HINDZINC, ICICIGI, JINDALSAW, JIOFIN, KESORAMIND, LTF, MASTEK, MRPL, OBEROIRLTY, RPEL, TATACONSUM, TEJASNET, ZEEL 

HINDZINC

* Revenue expected at Rs 7959 crore versus Rs 6791 crore

* EBITDA expected to be seen at Rs 4001 crore versus Rs 3139 crore

* EBITDA margin expected to be seen at 50.27% versus 46.22% 

* Net profit expected to be seen at Rs 2234 crore versus Rs 1729 crore

ICICIGI 

* GPW expected at Rs 7338 crore versus Rs 6272 crore

* EBIT expected to be seen at Rs 721 crore versus Rs 786 crore

* EBIT margin expected to be seen at 12.93% versus 15.56% 

* Net profit expected to be seen at Rs 655 crore versus Rs 577 crore

LTF 

* NII expected at Rs 2217 crore versus Rs 1843 crore

* EBIT expected to be seen at Rs 1488 crore versus Rs 2563 crore

* EBIT margin expected to be seen at 58.74% versus 79.76% 

* Net profit expected to be seen at Rs 696 crore versus Rs 595 crore

MASTEK 

* Revenue expected at Rs 849 crore versus Rs 812 crore

* EBIT expected to be seen at Rs 112 crore versus Rs 103 crore

* EBIT margin expected to be seen at 13.19% versus 12.68% 

* Net profit expected to be seen at Rs 81 crore versus Rs 71 crore

OBEROIRLTY

* Revenue expected at Rs 1233 crore versus Rs 1217 crore

* EBITDA expected to be seen at Rs 696 crore versus Rs 636 crore

* EBITDA margin expected to be seen at 56.44% versus 52.25% 

* Net profit expected to be seen at Rs 498 crore versus Rs 456 crore

TATACONSUM

* Revenue expected at Rs 4347 crore versus Rs 3733 crore

* EBITDA expected to be seen at Rs 632 crore versus Rs 537 crore

* EBITDA margin expected to be seen at 14.53% versus 14.38% 

* Net profit expected to be seen at Rs 339 crore versus Rs 352 crore

ZEEL

* Revenue expected at Rs 2098 crore versus Rs 2437 crore

* EBITDA expected to be seen at Rs 275 crore versus Rs 332 crore

* EBITDA margin expected to be seen at 13.10% versus 13.62% 

* Net profit expected to be seen at Rs 118 crore versus Rs 242 crore

(Rs. In Crs.)

Turnover: (NSE + BSE)

Cash Volume: 99898.22 + 6045.3 Total: 105943.52

F&O Volume: 626566.03 + 1546695.05 Total: 2173261.08

Provisional Cash

FII/FPI: NET SELL: -7421.4 

(9721.1 - 17142.5) 

DII: NET BUY: +4979.83 

(16817.01 - 11837.18)

Financial Results

Press Release & Presentation

07:30 CHINA GDP q/y (Expected: 4.6% versus Previous: 4.7%)

07:30 CHINA Retail Sales y/y (Expected: 2.5% versus Previous: 2.1%)

07:30 CHINA Industrial Production y/y (Expected: 4.6% versus Previous: 4.5%)

11:30 U.K. Retail Sales m/m (Expected: -0.3% versus Previous: 1.0%)

18:00 U.S. Building Permits (Expected: 145M versus Previous: 1.48M)

21:40 U.S. FOMC Member Waller Speaks

IT major Wipro has recorded a 21 per cent profit rise, beating market estimates. While revenue and margins reported were largely in line with street estimates in Q2, the outlook for next quarter isn’t encouraging.

On a quarter-on-quarter (q-o-q) basis, profits were up 6.85 per cent. Revenue from operations stood at ₹22,302 crore, registering marginal growth on a sequential basis, and a 1 per cent YoY decline. 

Hyundai Motor India’s (HMIL) initial public offering (IPO), the largest to date, sailed through on the final day, with help from qualified institutional buyers (QIBs).

The IPO, which opened on October 15, was subscribed 2.37 times overall. The QIB portion was subscribed nearly seven times, with bids for 19.72 crore shares against 2.82 crore shares on offer. The quota for employees was subscribed 1.74 times. 

Birla Tyres’ Balasore plant in Odisha is expected to restart production activities from the next fiscal, said Anurag Choudhary, CMD & CEO, Himadri Speciality Chemical.

Kolkata-based Himadri Speciality Chemical, India’s largest speciality carbon black maker, is one of the owners of Birla Tyres Ltd. Himadri and Dalmia Bharat Refractories had participated in the corporate insolvency resolution process of the tyre maker and jointly acquired the company for ₹306 crore.

Geopolitical issues - including strife in West Asia - have hit exports of Jindal Stainless Ltd with freight rates shooting up 3x - 4x across geographies. Moreover, there has been an absence of containers, most of which have been “cornered by China”, says Abhyuday Jindal, Managing Director of the company.

Reliance Brands has formed a new joint venture with Mothercare plc that will own the Mothercare brand and its intellectual property assets related to the regions of India, Nepal, Sri Lanka, Bhutan, and Bangladesh. Reliance Brands first acquired the rights to the UK-based Mothercare brand for the Indian market in 2018.

While the management comments indicate prolonged weakness in the financial services vertical (27 per cent of revenues) may have bottomed out, it may be too early to get optimistic

The stock of Tech Mahindra, since mid-August, has been in a sideways crawl. It has largely been oscillating between ₹1,580 and ₹1,660. However, early this week, the stock broke out of ₹1,660, opening the door for further appreciation. Although the scrip moderated post the breakout, the rebound happened on Thursday indicates that the bulls are in the driving seat.

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