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Stock Market Today
The Indian stock market benchmark indices, Sensex and Nifty 50, declined over 1% each on Monday, October 19, dragged by heavy selling acorss the board, led by private banks and IT stocks.
The BSE Sensex crashed 876.37 points, or 1.17%, to close at 73,852.90, while the NSE Nifty 50 settled 257.20 points, or 1.11%, lower at 22,888.95. The Bank Nifty index ended 355.90 points, or 0.64%, lower at 55,488.10.
US Stock Market Today
US stock markets opened higher on Monday, as technology shares recovered following a sell-off in artificial intelligence-linked stocks.
The Dow Jones Industrial Average dipped 38.37 points, or 0.07%, to 51,964.04 at 9:31 a.m. The S&P 500 gained 45.85 points, or 0.54%, to 7,703.58, while the Nasdaq Composite advanced 288.989 points, or 1.05%, to 26,424.21, according to real-time market quotes.
ALSO READ: US Eyes India’s Reliance To Refine Venezuelan Oil
Earnings
Hindustan Zinc Q2 (Cons, QoQ)
- Revenue up 9.8% to Rs 15,093 crore
- Ebitda up 14.9% to Rs 9,248 crore
- Ebitda margin at 61.3% versus 58.6%
- Net profit up 17.2% to Rs 6,412 crore
- Revenue at Rs 15,093 crore versus estimates of Rs 14,035 crore
- Ebitda at Rs 9,248 crore versus estimates of Rs 8,466 crore
- Ebitda margin at 61.3% versus estimates of 60.3%
- Net profit at Rs 6,412 crore versus estimates of Rs 5,593 crore
Piramal Finance Q2 (Cons, YoY)
- Total income up 28% to Rs 3,717 crore
- AUM increased 24% YoY to Rs 1,13,112 crore
- Net profit up 64.8% to Rs 539 crore
Tatva Chintan Pharma Chem Q2 (Cons, YoY)
- Revenue up 76% to Rs 217 crore
- Ebitda up 83.3% to Rs 40.7 crore
- Ebitda margin at 18.7% versus 18%
- Net profit at Rs 21.4 crore versus Rs 9.9 crore
L&T Technology Services Q2 (Cons, QoQ)
- Revenue up 3.4% to Rs 3,040 crore
- Ebit up 7.5% to Rs 495.9 crore
- Ebit margin at 16.3% versus 15.7%
- Net profit up 53.5% to Rs 548 crore
SML Mahindra Q2 (YoY)
- Revenue up 20.7% to Rs 670 crore
- Ebitda down 32.3% to Rs 28.3 crore
- Ebitda margin at 4.2% versus 7.5%
- Net profit down 44.5% to Rs 11.7 crore
Bajaj Finance Q2 (Cons, YoY)
- Net profit up 28.5% to Rs 6,266 crore versus Rs 4,875 crore
- NII up 23.6% to Rs 13,334 crore versus Rs 10,785 crore
- Operating profit up 23.2% to Rs 10,699 crore versus Rs 8,685 crore
- Gross NPA at 1.06% versus 1.24%
- Net NPA at 0.42% versus 0.60%
Nelco Q2 (Cons, YoY)
- Revenue up 5.1% to Rs 78.1 crore versus Rs 74.3 crore
- Net profit up 6.8% to Rs 1.73 crore versus Rs 1.62 crore
A-One Steels Q1 (Cons, QoQ)
- Revenue down 12% to Rs 1,041 crore versus Rs 1,188 crore
- Ebitda down 16.2% to Rs 102.1 crore versus Rs 121.8 crore
- Ebitda margin at 9.8% versus 10.3%
- Net profit down 32.4% to Rs 48 crore versus Rs 71 crore
- Government grants at Rs 2.5 crore versus Rs 6.9 crore
Sobha Q2 (Cons, YoY)
- Revenue down 31.3% to Rs 967 crore versus Rs 1,408 crore
- Ebitda down 28.1% to Rs 68.7 crore versus Rs 95.6 crore
- Ebitda margin at 7.1% versus 6.8%
- Net profit down 54.6% to Rs 32.9 crore versus Rs 72.5 crore
Waaree Renewable Technologies Q2 (Cons, YoY)
- Revenue up 36.5% to Rs 1,058 crore versus Rs 775 crore
- Ebitda up 1.2% to Rs 160 crore versus Rs 158 crore
- Ebitda margin at 15.1% versus 20.4%
- Net profit down 36.5% to Rs 74 crore versus Rs 116 crore
IREDA Q2 (Cons, YoY)
- Total income up 14% to Rs 2,347 crore versus Rs 2,058 crore
- Net profit up 0.5% to Rs 552 crore versus Rs 549 crore
Jaiprakash Power Q2 (Cons, YoY)
- Revenue up 5.1% to Rs 1,512 crore versus Rs 1,438 crore
- Ebitda up 39.3% to Rs 656 crore versus Rs 471 crore
- Ebitda margin at 43.4% versus 32.8%
- Net profit down 81.7% to Rs 33.3 crore versus Rs 182 crore
- Reported one-time loss of Rs 511 crore in Q2
Just Dial Q2 (Standalone, YoY)
- Revenue up 13.1% to Rs 343 crore versus Rs 303 crore
- Ebitda up 4.1% to Rs 90.6 crore versus Rs 87 crore
- Ebitda margin at 26.4% versus 28.7%
- Net profit down 9.2% to Rs 108 crore versus Rs 119 crore
Elevate Campuses Q1 (Cons, YoY)
- Revenue up 31.1% to Rs 219 crore versus Rs 167 crore
- Ebitda up 29.1% to Rs 165 crore versus Rs 128 crore
- Ebitda margin at 75.2% versus 76.3%
- Net profit down 71.4% to Rs 34 crore versus Rs 119 crore
- One-time loss of Rs 7 crore versus a gain of Rs 109 crore
Delta Corp Q2 (Cons, YoY)
- Revenue down 13.1% to Rs 159 crore versus Rs 183 crore
- Ebitda down 28.8% to Rs 28.4 crore versus Rs 39.9 crore
- Ebitda margin at 17.9% versus 21.8%
- Net loss at Rs 106 crore versus a profit of Rs 25 crore
- One-time loss of Rs 137 crore in Q2
Galantt Ispat Q2 Highlights (Consolidated, YoY)
- Revenue flat at Rs 1,145 crore
- EBITDA down 41% at Rs 109.6 crore Vs Rs 185.1 crore
- EBITDA margin at 9.6% vs 16.2%
- Net profit down 51% at Rs 60.5 crore vs Rs 123.7 crore
Stocks In News
- Infosys: Expands collaboration with Truist; to build Global Capability Centre in Hyderabad.
- Ceigall India: Arm Jam Khambhaliya Jamnagar Power Transmission signs transmission service agreement with Central Transmission Utility of India.
- Shukra Pharma: Seeks NSE approval for name change to Shukra Medtech; submits revised CA certificate.
- NTPC: Government appoints Diwakar Nath Misra as Government Nominee Director on the board.
- Titan: Fully redeems commercial papers worth Rs 1,000 crore.
- Federal Bank: Clarifies that it evaluates all opportunities in the normal course of business and is not in possession of any material information.
- Genus Power Infra: Board to meet on Oct. 26 to consider share buyback.
- Diamond Power Infrastructure: Appoints Kundip S Thakker as CFO from Oct. 20; Pawan Lohiya ceases to be CFO from Oct. 19 and is appointed Deputy CEO from Oct. 20.
- Transrail Lighting: Approves acquisition of 49% stake in Pace Green Energy for Rs 20 crore; to invest in a 990 MW solar portfolio in Maharashtra.
- Gabriel India: Forms JV with Faurecia Automotive; acquires 50% minus one share in the JV, which will begin with an investment of Rs 20 crore.
- JSW Dulux: Receives Rs 118 crore tax order from Karnataka GST authority.
- Jaiprakash Power: Appoints Jigar Dalal as CFO effective Nov. 1.
- Nuvama Wealth Management: Arm Nuvama Asset Management receives SEBI approval to launch a Specialised Investment Fund (SIF) under the Nuvama SIF brand.
- Karnataka Bank: COO Raja BS resigns effective Oct. 19.
- Sterling & Wilson Renewable Energy: Step-down arm approaches South African court over a Rs 25.5 crore claim related to unpaid insurance bond invocation.
- Cemindia Projects: QIP issue closes; allots 1.3 crore shares at Rs 1,108 per share.
- Lord’s Mark Industries: Board to meet on Oct. 23 to consider raising an unsecured loan of Rs 100 crore.
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Steel Stocks: Primary-secondary rebar spread at its highest level since June 2022; global steelmaker Nucor has hiked prices.
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2-Wheeler Stocks: Citi now builds in 9% YoY industry volume growth for FY27 versus 7% earlier.
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Cement Stocks: Positive commentary and outlook from UltraTech Cement.
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Orchid Pharma: Board approves raising up to Rs 600 crore through equity and/or other instruments.
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Globus Spirits: Maize ethanol price cut by Rs 3/litre; analysts see a likely 10-11% impact on Ebitda and a 20-22% impact on profit after tax.
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Venus Pipes: Commences pipe spooling operations ahead of schedule.
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Quality Power Electrical Equipments: Commences manufacturing operations at its new Global Coil Factory at Kupwad MIDC, Sangli, Maharashtra.
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Karamtara Engineering: India Ratings upgrades bank loan ratings to IND AA-/Stable/IND A1+.
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RailTel: Wins a Rs 47 crore order from Haryana State Electronics Development Corporation.
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Vintage Coffee: Board approves raising Rs 325 crore through equity and/or debt.
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Schaeffler India: Managing Director and CEO Harsha Kadam taken into custody by Pune Police in connection with a factory accident that occurred on June 9.
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Sun Pharma: UNLOXCYT receives a National Comprehensive Cancer Network (NCCN) Category 2A preferred recommendation for advanced skin cancer patients who are not eligible for surgery or radiation.
IPO Update
Sahajanand Medical IPO — Day 3
- Overall: 14.20x
- QIB: 34.70x
- NII: 14.64x
- Retail: 3.03x
Bonfiglioli Transmissions IPO — Day 3
- Overall: 46.06x
- QIB: 120.78x
- NII: 40.40x
- Retail: 5.91x
Tonbo Imaging IPO — Day 3
- Overall: 135.90x
- QIB: 293.56x
- NII: 170.94x
- Retail: 31.07x
Zetwerk Manufacturing IPO — Day 3
- Overall: 3.06x
- QIB: 4.73x
- NII: 1.40x
- Retail: 0.73x
IPO Listings
HD Fire
- IPO subscribed 131.73 times
- Retail: 30.55 times
- QIB (ex-anchor): 256.65 times
- NII: 203.21 times
IPO To Open
Jio Platforms
- About the company: Technology company focused on digital connectivity, digital services and technology-led solutions in India.
- Dates: Oct. 21–23
- Issue size: Rs 30,213 crore
- Issue mix: Entirely a fresh issue
Paras Healthcare
- About the company: Clinical specialty-led hospital platform providing tertiary and quaternary healthcare services.
- Dates: Oct. 21–23
- Issue size: Rs 1,450 crore
- Issue mix: Fresh issue of Rs 500 crore and offer for sale of Rs 950 crore
Board Meetings
- Orchid Pharma: Fundraising.
Bulk and Block Deals
- DCM Shriram Industries: Mugi Constructions acquired 16.04 lakh shares at Rs 46.44 per share.
Shares To Exit Lock-In
1 Month
- SS Retail: 2% / 2 million shares
- Jindal Supreme (Ind): 4% / 2 million shares
- Hero Motors: 4% / 18 million shares
3 Months
- Caliber Mining: 2% / 1.6 million shares
Price Band
- KRN Heat Exchanger and Refrigeration: Price band changed from 10% to 5%.
F&O Cues
- Nifty October futures down 0.97% to 22,894 at a premium of 6 points.
- Nifty options (Oct. 27 expiry): Maximum call open interest at 24,000; maximum put open interest at 22,500.
- Securities in ban period: Ambuja Cements, Kaynes Technology, SAIL.