KEY HIGHLIGHTS
Most US Futures Little Change Before Earnings & US Jobs Data
The S&P 500 futures was trading 0.02% higher at 5,862.50, and the Nasdaq Future was 0.07% higher at 20,511.00 as of 3:32 p.m. IST. The Dow Jones Industrial Average future was 0.01% down at 42,603.00 as of 3:32 p.m. IST.
Economic Data Due Later Tuesday
US: Goods Trade Balance
US: Prelim Wholesale Inventories m/m
US: CB Consumer Confidence
US: JOLTS Job Openings
Sensex Extends Rally To Recoup More Than Half Of Last Week's Losses: Closing Bell
Benchmark equity indices extended their recovery for a second consecutive session as bank stocks led the gains but shares of automobile companies capped the upside.
During the five-session fall before these two sessions of gains, Nifty had fallen 2.7% and Sensex lost 2.2%.
Intraday on Tuesday, Nifty fell as much as 0.8% and Sensex fell as much as 0.7%. Nifty ended 0.48% or 117 points up at 24456.15 and Sensex ended 0.45% or 363.99 points higher at 80369.03.
Along with domestic quarterly earnings, the market participants will now take cues from earnings of big tech companies in the US, US election outcome as well as a slew of economic data to be released later this week.
"The Index (Nifty) has formed a bullish candle and is on the verge of giving a breakout from a Falling Wedge formation while the leading indicator RSI has given a positive crossover suggesting a trend reversal, " said Aditya Gaggar, director of Progressive Shares. "A level of 24,570 will be considered a breakout point while the Index managed to defend yesterday's low of 24,140 which will serve as immediate support."
Shares of ICICI Bank Ltd., State Bank Of India, HDFC Bank Ltd., Larsen & Toubro Ltd., and Bharat Electronics Ltd contributed the most to the gains. While those of Infosys Ltd., Tata Motors Ltd., Maruti Suzuki Ltd., Bharti Airtel Ltd., and Sun Pharmaceutical Industries Ltd. capped the upside.
Most sectoral indices rose. Nifty PSU Bank was top gainer and Nifty Auto fell the most
Market breadth was skewed in favour of buyers. Around 2,214 stocks advanced, 1,643 stocks declined, and 125 stocks remained unchanged on BSE.
Broader markets outperformed benchmark indices. The BSE Midcap and Smallcap indices ended 0.74% and 0.71% higher, respectively.
On BSE, 14 sectors advanced, and six declined out of 20. The BSE Realty rose the most, and the BSE Auto declined the most.
Rupee Closes Flat Against Dollar
Rupee closed flat at 84.079 against the US dollar.
It closed at 84.076 on Monday.
Source: Bloomberg
Markets At Close
Nifty and Sensex extended recovery for a second consecutive session
Nifty ends 0.48% or 117 points up at 24456.15
Sensex ends 0.45% or 363.99 points higher at 80369.03
Intraday, Nifty fell as much as 0.8% and Sensex fell as much as 0.7%
Broader indices outperformed; Nifty Midcap 100 ended 0.9% up and Nifty Smallcap 250 closed 0.7% higher
Most sectoral indices rose. Nifty PSU Bank was top gainer and Nifty Auto fell the most
Bharat Electronics and SBI were top Nifty gainers
Tata Motors and Maruti Suzuki fell the most
Adani Enterprises Q2 Highlights (Consolidated, YoY)
Revenue up 15.7% at Rs 22,608 crore versus Rs 19,546 crore.
Ebitda up 46% at Rs 3,694 crore versus Rs 2,533 crore.
Margin at 16.3% versus 12.9%
Net profit up 383% at Rs 1,989 crore versus Rs 333 crore.
European Market Open: Indices Higher Amid Quarterly Earnings
Indices in Europe were higher in the early trade amid quarterly resuluts announcements. France CAC gained the most by 0.8% followed by Germany's DAX which was 0.5% higher and UK's FTSE 100, which rose 0.4%.
Cipla Shares Off Lows As Q2 Net Profit Rises
Cipla Q2 Highlights (Cons YoY)
Revenue up 6% at Rs 7,051 crore vs Rs 6,678 crore
EBITDA up 9% at Rs 1,885 crore vs Rs 1,734 crore
EBITDA margin at 26.7% vs 25.9%
Net profit up 13% at Rs 1,305 crore vs Rs 1,155 crore
Blue Jet Healthcare Q2 Highlights (Consolidated, YoY)
Revenue up 15% at Rs 208 crore versus Rs 181 crore
Ebitda up 11% at Rs 70 crore versus Rs 63 crore
Margin at 33.4% vs 34.6%
Net profit up 22% at Rs 58 crore versus Rs 48 crore
Maruti Suzuki On Profit Decline
"The Net Profit (PAT) for the quarter declined to Rs 30,692 million compared to Rs 37,165 million of Q2FY2023-24 due to a provision of INR 8,376 million resulting from the withdrawal of indexation benefit and change in tax rate on long term capital gains on debt mutual funds as per the Finance Act 2024," a filing said. "This impact was intimated earlier to the stock exchanges on 17th August 2024."
Asia Market Update: Most Indices Close Higher But CSI 300 1% Down
Most indices in the Asia Pacific region ended higher on Tuesday except China's CSI 300, which closed 1% lower. Japan's Nikkei was 0.8% higher at close, extending its gains after the country's election outcome, Hong Kong's Hang Seng closed 0.3% higher, South Korea's Kospi ended 0.2% up, and Australia's ASX 200 was also 0.3% higher
Maruti Suzuki Hits Eight-Month Low After Results: Stock Market Update
Maruti Suzuki Q2 Highlights (Standalone, YoY)
Revenue up 0.4% at Rs 37,203 crore versus Rs 37,062 crore. (Bloomberg estimate: Rs 37,229 crore)
Net profit down 17.4% at Rs 3,069 crore versus Rs 3,717 crore. (Bloomberg estimate: Rs 3,710 crore)
Margin at 11.9% versus 12.9% (Bloomberg estimate: 12.7%)
Kirloskar Brothers Up 6% After Results
Kirloskar Brothers Q2 Highlights (Consolidated, YoY)
Revenue up 13% at Rs 1,036 crore versus Rs 913 crore.
Net profit up 90% at Rs 97 crore versus Rs 48 crore.
Ebitda up 50% at Rs 142 crore versus Rs 95 crore.
Margin at 13.7% versus 10.4%.
Swiggy IPO: What The RHP Tells Us About Its June Quarter Performance Against Zomato
Swiggy's metrics for first quarter this fiscal are available for comparison with listed peer Zomato Ltd. after the quick commerce company released its final red herring prospects late on Monday. Days before it hits the primary markets on Nov. 6, Swiggy's listing has been much anticipated, and Indian investors will have a direct competitor available to Zomato.
Adani Ports Q2 Highlights (Consolidated, YoY)
Revenue up 6% at Rs 7,067 crore versus Rs 6,646 crore.
Net profit up 37% at Rs 2,412 crore versus Rs 1,761 crore.
Canara Bank Q2 Highlights (Standalone, YoY)
Net profit up 11% at Rs 4,015 crore versus Rs 3,606 crore.
Net interest income up 5% at Rs 9,315 crore versus Rs 8,903 crore.
Afcons Infrastructure IPO Fully Subscribed On Day 3
Subscription Status as of 12:42 p.m.
Overall Subscription At 1.05 times
NII Subscription At 2.35 times
Retail Subscription At 0.52 times
QIB Subscription At 1.01 times
Source: BSE
Stock Market New Senco Gold Clarifies
Senco Gold has clarified on rumours stating possible raids at company's or promoters' premises in an exchange filing. It said that the news is inaccurate as no such event has taken place.
Symphony Share Price Tanks After Results
Symphony Q2 Highlights (Consolidated, YoY)
Revenue up 14.5% at Rs 315 crore versus Rs 275 crore.
Ebitda loss of Rs 2,936 crore versus Ebitda profit of `Rs 41 crore.
Net profit up 60% at Rs 56 crore versus Rs 35 crore.
Ami Organics Share Price Surges After Q2 Results
Ami Organics Q2 Highlights (Consol, YoY)
Revenue up 43.2% at Rs 247 crore vs Rs 172 crore
EBITDA up 97% at Rs 48.9 crore Vs Rs 24.8 crore
Margin at 19.8% vs 14.4%
Net Profit at Rs 37.6 crore vs loss Of Rs 17 crore
Ami Organics Share Price Surges 11% After Q2 Results
Nifty Bank Gains The Most Among Sectoral Indices
Nifty Bank was the best performing sector on Tuesday and gained around 1%.
Top Gainers And Losers
Tata Tech Share Price Trades Lower As Citi Research Cuts Target Price On Bleak Third Quarter Outlook
Tata Technologies Ltd. share price was trading lower on Tuesday after Citi Research cut the target price on bleak third quarter outlook.
The New York–headquartered investment bank reduced the target price to Rs 900 from Rs 999, while it retained a 'Sell' rating on the stock. The current target price implied a 9.95% downside from Monday's closing price.
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Greenlam Industries Shares Fall As Q2 Net Profit Down 12.8%
Greenlam Industries Q2 Highlights (Consol, YoY)
Net Profit down 12.8% at Rs 34 crore vs Rs 39 crore
Revenue up 12.7% at Rs 681 crore vs Rs 604 crore
EBITDA up 7.2% at Rs 81.3 crore vs Rs 75.8 crore
Margin At 11.9% vs 12.5%
Also Read: Q2 Results Updates: Allied Blenders Profit Quadruples; Prestige Estates Projects Profit Falls 74%
TCS Signs Deal With Ireland Social Protection Dept.
TCS has signed a 15-year deal with Ireland's department of social protection to implement new pension system, an exchange filing by the company said.
Nifty Auto Hits Lowest Since June 4; Most Constituents Fall: Share Market Update
Nifty Auto was back in the negative territory on Tuesday after one-day rise and hit its lowest level since June 4. Except Eicher Motors, all constituents of the index fell.
Most Constituents Fall
| NAME | LASTPRICE | %CHANGE | OPEN | HIGH | LOW | 52WKHG | 52WKLW |
|---|---|---|---|---|---|---|---|
| Tata Motors | 834.25 | -5.03% | 880.25 | 882.5 | 825.7 | 1179 | 621.85 |
| Bajaj Auto | 9746.9 | -2.64% | 10073.95 | 10073.95 | 9640 | 12774 | 5275 |
| Maruti Suzuki | 11203.8 | -2.43% | 11450 | 11483 | 11167.05 | 13680 | 9737.65 |
| Balkrishna Ind | 2863.75 | -2.19% | 2930 | 2957.55 | 2852.95 | 3375 | 2193.8 |
| M&M | 2720.2 | -2.19% | 2762 | 2797.95 | 2705.15 | 3222.1 | 1450 |
| Hero Moto | 4820.45 | -2.18% | 4927.85 | 4959.95 | 4800 | 6246.25 | 3041.5 |
| Bharat Forge� | 1343.8 | -1.59% | 1367 | 1368.9 | 1340.8 | 1804.5 | 1002.3 |
| TVS Motor� | 2424.05 | -1.56% | 2460 | 2474.4 | 2412.9 | 2958 | 1554.5 |
| Samvardhana� | 187.63 | -1.48% | 190.45 | 191.4 | 187 | 216.99 | 86.8 |
| MRF� | 121272.3 | -1.48% | 123399 | 123400 | 120750 | 151445 | 107008.05 |
| Exide | 457.65 | -1.38% | 467 | 469.65 | 454.15 | 620.35 | 249 |
| Ashok Leyland | 209.19 | -1.27% | 212 | 212.5 | 208.34 | 264.65 | 157.55 |
| Bosch� | 35719.95 | -1.12% | 36346.35 | 36590 | 35325.1 | 39088.8 | 19300 |
| Apollo Tyre | 482.6 | -0.78% | 487.3 | 490.55 | 478.1 | 584.9 | 370.6 |
| Eicher | 4748.6 | 0.59% | 4688 | 4829.85 | 4685.45 | 5105 | 3275 |
Spandana Sphoorty Financial Share Price Hits Over Two–Year Low As Company Reports Loss
Spandana Sphoorty Financial Ltd. share price declined to the lowest level since June 29, 2022 after the company reported loss of Rs 204 crore in second quarter, compared to Rs 116 crore.
Emkay Sees No Reason To Donwngrade FY26 earnings of Indian OMCs: Stock Market News
Emkay Research said that lackluster Q2 results were not surprising and Q2 OMC earnings were dragged down by lower gross refining margins, inventory & LPG losses. The brokerage has cut FY25 EPS estimates of HPCL/IOCL by 17%/36%.
It noted that a conservative base case still yields good earnings upside for oil forms in H2FY25 and expects HPCL/BPCL/IOCL’s H2 annualized Ebitda runrate at Rs 22000/32000/53000 crore.
Key risks for the brokerage's call include adverse crude oil prices and downstream margins, govt policies, and project-related issues.
JSW Group, Korea's POSCO Ink Pact To Develop Steel Plant In India: Share Market News
JSW Group and Korea's POSCO group has signed memorandum of understanding to develop a steel plant of 5 million tonnes per annum in India.
Federal Bank Share Price Jumps Most In Four Months As Asset Quality Remains Intact In Q2
Federal Bank Ltd.'s share price surged over 6% on Tuesday—the best session since June 5—after the lender reported a 11% increase in the net profit to Rs 1,057 crore for the September quarter.
Federal Bank's share price rose as much as 6.92% during the day to Rs 197.8 apiece on the NSE. It was trading 6.94% higher at Rs 197.4 apiece, compared to a 0.4% decline in the benchmark Nifty 50 as of 09:35 a.m.
It has risen 40% during the last 12 months and has advanced by 26% on a year-to-date basis. The total traded volume so far in the day stood at 14 times its 30-day average. The relative strength index was at 58.
Bharat Electronics' Target Price Hiked By Jefferies As Q2 Ebitda Beats Estimates
Bharat Electronics Ltd.'s second quarter Ebitda beat Jefferies' expectation. The brokerage has raised its target price on the stock to Rs 370 per share and sees a 36% upside. It maintained its 'buy' rating.
BEL's Ebitda was 36% above Jefferies' estimates, on the back of margin expansion. Margins rose 700 bps to 30.3%, compared to an estimate of 23.3%. The company tends to see quarterly volatility in margins. This margin strength provides confidence in BEL's ability to sustain profitability, Jefferies said.
Slow Auto Sales To Augur Well For This Used Car Player — Stock Target Price Hiked
CarTrade Technologies Ltd., the online classifieds and auto marketplace platform, is set to be the key beneficiary of slowing auto sales in the country, Nomura said while it hiked its target price.
The stock rose as much as 9.35% to a two-year high of Rs 1,074.2 per share after the company reported its second-quarter earnings. It has risen 53% during the last 12 months and has advanced by 46% on a year-to-date basis. Four out of the five analysts tracking the company have a 'buy' rating on the stock, one has a 'sell', according to Bloomberg data. The average of 12-month analyst price target
Ramco Cements To Sell 1.43 Crore Shares Of Ramco Industries: Stock Market News
Ramco Cements will sell 1.4 crore shares held in Ramco Industries to Rajapalayam Mills & Ramco Management, an exchange filing said. It added proposed transaction will be undertaken as inter-se transfer among the company, Rajapalayam Mills & Ramco Management.
Suzlon Energy Share Price Jumps After Q2 Profit Nearly Doubles: Stock Market Updates
Multibagger Suzlon Energy Ltd. share price jumped nearly 4% in early trade on Tuesday after profit surged nearly twofold in the second quarter of fiscal 2025.
Two of the five analysts tracking the company have a 'buy' rating on the stock, while three suggest 'hold', according to Bloomberg data. The average of 12-month analyst price target of Rs 76.33 implies a potential upside of 7.7%.
Dhanteras 2024: Gold, Silver Prices In India Today As Festival Drives Demand
As India celebrates Dhanteras today, demand for gold amid festivities continued to drive demand and hold prices steady. The domestic prices stood at Rs 78,750 as of 8:02 a.m., according to the India Bullions Associations. This is a slight fluctuation, but the prices stayed above Rs 78,700. The purchases during the festive season are further driving the domestic demand for gold.
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Sun Pharma Share Price Snaps Three-Day Rally But Analysts Positive After Q2: Share Market News
Sun Pharmaceutical Industries Ltd. share price snapped their three-day gaining streak on Tuesday but analysts said that the company's earnings for July–September quarter is more resilient than peers.
Bharti Airtel Hits One-Month Low After Q2 Results
Bharti Airtel Ltd. fell to hit its lowest level since September 12 after its consolidated net profit fell 12% sequentially in the second quarter of the current financial year, missing analysts' estimates.
Nifty, Sensex See Muted Open As Infosys, RIL Weigh But ICICI Bank Lead Gains: Stock Market Update At Open
Benchmark equity indices saw a flat open after rising on Monday as shares price of Infosys and Reliance weighed on them but that of ICICI Bank helped them from falling much.
At pre-open, Nifty was at 24328.85, down 0.04% or 10.30 points and Sensex was at 80037.19, up 0.04% or 32.15 points.
According to Vikas Jain, head of research at Reliance Securities, "We could witness some pullback to 24,650 levels if the lows of 24,000 is being protected."
He added that the 100-day average at 26,650 will act as strong breakout zone and would confirm a trading bottom is in place while on the downside the next support is at 23,800 levels.
Shares of Infosys Ltd., Bharti Airtel Ltd., Mahindra & Mahindra Ltd., Tata Consultancy Services Ltd., and Reliance Industries Ltd. dragged the Nifty. While those of ICICI Bank Ltd., NTPC Ltd., State Bank Of India, Coal India Ltd., and Bharat Electronics Ltd. limited the fall.
Except Nifty Bank and Nifty Financial Services, all sectoral indices opened higher. Nifty Auto fell the most.
Nifty, Sensex Flat At Pre-Open: Share Market Update
At pre-open, Nifty was at 24328.85, down 0.04% or 10.30 points and Sensex was at 80037.19, up 0.04% or 32.15 points.
Yield On The 10-Year Bond Opens Flat
The yield on the 10-year bond opened flat at 6.86%.
It closed at 6.86% on Monday.
Source: Bloomberg
Rupee Flat Against US Dollar
Rupee opened flat at 84.06 against the US dollar.
It closed at 84.07 on Monday.
Source: Bloomberg
Stock Market Live: JSW Energy Clarifies
Company's financial proposal declared as highest for KSK Mahanadi Power
Company keeps evaluating and participating in various opportunities across power sector
Revised resolution plan incorporating financial proposal is to be submitted by JSW Energy
Alert: Company Submitted Resolution Plan Under Corporate Insolvency Resolution Process Of KMPCL
Alert: KMPCL stands for KSK Mahanadi Power
CLSA Says BHEL Share Price Remains Expensive; Maintains 'Underperform'
CLSA has maintained 'underperform' on BHEL at Rs 229.8 target. It said that stock remains expensive at 40 times FY26 price to earnings ratio. The company said it is seeing operational turnaround in Q2FY25 and that execution picked up 33%. According to the brokerage, key bright spot for the company is resurgence of fossil orders.
It said that in Q2FY25, gross margins bounced from seven year low and backlog was up 40% YoY led by thermal power orders from Adani Power, DVC, NTPC. It also noted that there is risk of slower execution due projects facing land & local issues.
Citi Maintains 'Buy' On Sun Pharma After Results
Citi Research has maintained a 'buy' on Sun Pharmaceuticals Industries with target price of Rs 2080; upside potential 9.4%. The brokerage said that commentary on specialty continues to remain positive and front-loading of spends shows company's confidence on launching Leqselvi in short term. The company's generic business expected to see traction with launches and earnings show resilience compared to major peers.
Earnings Post Market Hours Monday
Ajanta Pharma Q2FY25 (Consolidated YoY)
Revenue up 15% at Rs 1,187 crore versus Rs 1,028 crore (Bloomberg Estimate: Rs 1143 crore)
Ebitda up 7% at Rs 311 crore versus Rs 291 crore (Bloomberg Estimate: Rs 331 crore)
Ebitda margin at 26.2% versus 28.3% (Bloomberg Estimate:28.9%)
Net profit up 11% at Rs 216 crore versus Rs 195 crore (Bloomberg Estimate: Rs 237 crore)
Board approves first interim dividend of Rs 28/share
Ram Ratna Wires Q2FY25 (Consolidated, YoY)
Revenue up 24.13% at Rs 939.79 crore versus Rs 757.06 crore
Ebitda up 14.33% at Rs 36.06 crore versus Rs 31.54 crore
Margin at 3.83% vs 4.16% down 32 bps
Net profit up 17.15% at Rs 16.79 crore versus Rs 14.33 crore
StyreniX Performance Materials Q2FY25 (Consolidated, YoY)
Revenue up 9.78% at Rs 653.22 crore versus Rs 595 crore
Ebitda up 19.29% at Rs 98.81 crore versus Rs 82.83 crore
Margin at 15.12% vs 13.92% up 120 bps
Net profit up 24.24% at Rs 70.1 crore versus Rs 56.42 crore
Kalpataru Projects Q2FY25 (Consolidated, YoY)
Revenue up 9.1% at Rs 4,930 crore versus Rs 4,518 crore
Ebitda up 18.2% at Rs 438 crore versus Rs 371 crore
Margin at 8.9% versus 8.2%
Net profit up 39.7% at Rs 126 crore versus Rs 89.9 crore
PTC India Q2FY25 (Consolidated, YoY)
Total income down 19% at Rs 163 crore vs Rs 202 crore
Net profit down 20.78% at Rs 47.3 crore vs Rs 59.8 crore
AB SUN LIFE Q2FY25 (Consolidated YoY)
Total income up, 33% at Rs 520 crore vs Rs 391 crore
Net profit up 36% at Rs 242 crore vs Rs 178 crore
NESCO Q2FY25 (Consolidated YoY)
Revenue up 9.9% at Rs 192 crore versus Rs 175 crore
Ebitda up 9.6% at Rs 120 crore versus Rs 109 crore
Margin at 62.2% versus 62.4%
Net profit up 21.7% at Rs 107 crore versus Rs 87.8 crore
BHARTI AIRTEL Q2FY25 (Consolidated QoQ)
Revenue up 8% at Rs 41,473 crore versus Rs 38,506 crore (Bloomberg Estimate: Rs 41295 crore)
Ebitda up 11% at Rs 21,846 crore versus Rs 19,707 crore (Bloomberg Estimate: Rs 21757 crore)
Ebitda margin at 52.7% versus 51.2% (Bloomberg Estimate: 52.7%)
Net profit down 12% at Rs 4,153 crore versus Rs 4,717 crore (Bloomberg Estimate: Rs 4398 crore)
J Kumar Infra Q2FY25 (Consolidated YoY)
Revenue up 17% at Rs 1,292 crore versus Rs 1,104 crore
Ebitda up 18.13% at Rs 188 crore versus Rs 160 crore
Margin at 14.6% versus 14.4%
Net profit up 22.8% at Rs 90.2 crore versus Rs 73.4 crore
Restaurant Brands Asia Q2FY25 (Consolidated, YoY)
Revenue up 1.2% at Rs 632 crore versus Rs 625 crore (Bloomberg Estimate: Rs 582 crore)
Ebitda up 12.45% at Rs 63.2 crore versus Rs 56.2 crore (Bloomberg Estimate: Rs 59 crore)
Margin at 10% versus 9% (Bloomberg Estimate: 10.2%)
Net loss of Rs 65.4 crore versus loss of Rs 50.6 crore (Bloomberg Estimate: loss Rs 55 crore)
Spandana Sphoorty Q2FY25 (Standalone YoY)
Total income up 7% at Rs 659 crore versus Rs 614 crore
Net loss at Rs 204 crore versus profit of Rs 116 crore
SJS Enterprises
Revenue up 18% at Rs 192.7 crore versus Rs 163.1 crore
Ebitda up 37% at Rs 51.7 crore versus Rs 36 crore
Ebitda margin at 26.8% versus 22%
Net profit up 51% at Rs 29 crore versus 19 crore
Aarti Pharmalabs
Revenue up 4.3% at Rs 458 crore versus Rs 439 crore
Ebitda up 6.4% at Rs 93.6 crore versus Rs 87.9crore'
Ebitda margin at 20.4% versus 20%
Net profit up 5.4% at Rs 54.6 crore versus Rs 51.8 crore
Shaily Engineering Q2FY25 (Consolidated, YoY)
Revenue up 21.85% at Rs 192 crore versus Rs 157.56 crore
Ebitda up 70.72% at Rs 40.24 crore versus Rs 23.57 crore
Margin up 599 bps at 20.95% versus 14.95%
Net profit up 102.77% at Rs 21.9 crore versus Rs 10.8 crore
Arvind Fashions Q2FY25 (Consolidated, YoY)
Revenue up 8.5% at Rs 1,273 crore versus Rs 1,174 crore (Bloomberg Estimate: Rs 2,047 crore)
Ebitda up 16.9% at Rs 162 crore versus Rs 139 crore (Bloomberg Estimate: Rs 214 crore)
Margin at 12.7% versus 11.8% (Bloomberg Estimate: 10.50%)
Net profit up 21.6% at Rs 45 crore versus Rs 37 crore (Bloomberg Estimate: 81 crore)
JSW infrastructure Q2FY25 (Consolidated YoY)
Revenue up 18.04% at Rs 1001.36 crore versus Rs 848.31 crore (Bloomberg Estimate: Rs 989 crore)
Ebitda up 15.12% at Rs 520.54 crore versus Rs 452.17 crore (Bloomberg Estimate: Rs 522 crore)
Margin at 51.98% versus 53.3% down 131 bps (Bloomberg Estimate: 52.80%)
Net profit up 40.04% at Rs 373.73 crore versus Rs 266.87 crore (Bloomberg Estimate: Rs 299 crore)
Suzlon Energy Q2FY25 (Consolidated, YoY)
Revenue up 48.0% to Rs 2,103.38 crore versus Rs 1,421.43 crore.
Ebitda is up 31% to Rs 294.18 crore versus Rs 225.04 crore.
-Margin at 14.0% versus 15.8%.
Net profit up 96% to Rs 200.60 crore versus Rs 102.29 crore.
Indraprastha Gas Q2FY25 (Consolidated, QoQ)
Revenue up 5.1% to Rs 3,697.60 crore versus Rs 3,520.60 crore (Bloomberg estimate: Rs 3,565 crore).
Ebitda down 8% to Rs 534.88 crore versus Rs 580.31 crore (Bloomberg estimate: Rs 626 crore).
Margin at 14.5% versus 16.5% (Bloomberg estimate: 17.50%)
Net profit down 5% to Rs 454.17 crore versus Rs 480.22 crore (Bloomberg etimate: Rs 471 crore).
Shaily Engineering Q2FY25 (Consolidated, YoY)
Revenue up 21.85% at Rs 192 crore versus Rs 157.56 crore
Ebitda up 70.72% at Rs 40.24 crore versus Rs 23.57 crore
Margin up 599 bps at 20.95% versus 14.95%
Net profit up 102.77% at Rs 21.9 crore versus Rs 10.8 crore
Gillette India Q2FY25 (YoY)
Revenue up 17% at Rs 782 crore versus Rs 668 crore (Bloomberg estimate: Rs 709 crore)
Ebitda up 38% at Rs 190 crore versus Rs 138 crore (Bloomberg estimate: Rs 161 crore)
Ebitda margin at 24.4% vs 20.6% (Bloomberg estimate: 22.7%)
Net profit up 43% at Rs 133 crore versus Rs 93 crore (Bloomberg estimate: Rs 106 crore)
Northern Arc Capital Q2FY25 (Standalone YoY)
Total income up 34% at Rs 574 crore versus Rs 427 crore
Net profit up 53% at Rs 112 crore versus Rs 73 crore
L.G. Balakrishnan Bros Q2FY25 (Consolidated, YoY)
Revenue up 10% at Rs 661 crore versus Rs 600 crore
Ebitda up 6.1% at Rs 110 crore versus Rs 104 crore
Margin at 16.6% vs 17.3%
Net profit up 2.8% at Rs 77.6 crore versus Rs 75.5 crore
Tata Technologies (Consolidated QoQ)
Revenue up 2.2% at Rs 1,296 crore versus Rs 1,269 crore (Bloomberg estimate: Rs 1338 crore)
EBIT up 2.1% at Rs 206 crore versus Rs 201 crore (Bloomberg estimate: Rs 214 crore)
EBIT margin flat at 15.9% (Bloomberg estimate: 16%)
Net profit down 2.9% at `157 crore versus Rs 162 crore (Bloomberg estimate: Rs 180 crore)
KFin Tech Q2FY25 (Consolidated QoQ)
Revenue up 18% at Rs 280 crore versus Rs 238 crore (BB Estimate: Rs 265 crore)
EBIT up 29% at Rs 110 crore versus Rs 85 crore (Bloomberg estimate: Rs 110 crore)
EBIT margin at 39.2% versus 35.8% (Bloomberg estimate: 41.5%)
Net profit up 31% at Rs 89 crore veusus Rs 68 crore (Bloomberg estimates: Rs 82 crore)
LMW Q2FY25 (Consolidated YoY)
Revenue down 42% at Rs 769 crore versus Rs 1,320 crore (Bloomberg estimate: Rs 760 crore)
Ebitda down 76% at Rs 32 crore versus Rs 136 crore (Bloomberg estimate: Rs 22 crore)
Ebitda margin at 4.2% versus 10.3% (Bloomberg estimate: Rs 2.9%)
Net profit down 79% at Rs 24 crore versus Rs 115 crore (Bloomberg estimate: Rs 21 crore)
Tamiland Merchantile Bank
Total income up 14,6% (YoY) up at Rs 1099.68 crore versus Rs 1365.22 crore
Net profit up 10.84% YoY at Rs 303.18 crore versus Rs 273.51 crore
Gross NPA at 1.37% versus 1.44% (QoQ)
Net NPA at 0.46% versus 0.65% (QoQ)
Return on assets at 1.94% versus 1.89% a year ago
Skipper Q2FY25 (Consolidated, YoY)
Revenue up 43.7% at Rs 1,110 crore versus Rs 772 crore (Bloomberg estimate: Rs 969 crore)
Ebitda up 52.9% at Rs 112 crore versus Rs 73.5 crore (Bloomberg estimate: Rs 96 crore)
Margin at 10.1% versus 9.5% (Bloomberg estimate: Rs 9.9%)
Net profit up 67% at Rs 32.9 crore versus Rs 19.7 crore (Bloomberg estimate: Rs 27 crore)
Greenpanel Industries Q2FY25 (YoY)
Revenue down 15.5% at Rs 337 crore versus Rs 399 crore (Bloomberg estimate: Rs 365 crore)
Ebitda down 56.7% at Rs 29.9 crore versus Rs 69 crore (Bloomberg estimate: Rs 36 crore)
Margin at 8.9% versus 17.3% (Bloomberg estimate: 9.9%)
Net profit down 54.6% at Rs 18.5 crore versus Rs 40.8 crore (Bloomberg estimate: Rs 16 crore)
Genesys International Q2FY25 (Consolidated, YoY)
Revenue up 116.99% at Rs 72.02 crore versus Rs 33.19 crore
Ebitda up 280.93% at Rs 29.37 crore versus Rs 7.71 crore
Margin at 40.78% versus 23.22% up 1755 bps
Net profit at Rs 11.09 crore versus net loss of Rs 3.44 crore
Paramount Wires & Cables Q2FY25 (Consolidated, YoY)
Revenue up 40% at Rs 355.89 crore versus Rs 252.44 crore
Ebitda up 44% at Rs 33.59 crore versus Rs 23.22 crore
Margins at 9.4% versus 0.1%
Net profit up 4% at Rs 20.33 crore versus Rs 19.49 crore
Jindal Drilling & Industries Q2FY25 (Consolidated, YoY)
Revenue up 21.41% at Rs 172.5 crore versus Rs 142.08 crore
Ebitda down 41.23% at Rs 31.24 crore versus Rs 53.15 crore
Margin at 18.11% versus 37.4% down 1929 bps
Net profit up 55.83% at Rs 34.47 crore versus Rs 22.12 crore
Interarch Building Products Q2FY25 (Consolidated, YoY)
Revenue up 8.54% at Rs 323.28 crore versus Rs 297.82 crore
Ebitda up 31.8% at Rs 25.24 crore versus Rs 19.15 crore
Margin at 7.8% versus 6.43% up 137 bps
Net profit up 36.16% at Rs 20.67 crore versus Rs 15.18 crore
Pfizer Q2FY25 (YoY)
Revenue up 2.3% at Rs 589 crore vs Rs 575 crore
Ebitda up 3.6% at Rs 189 crore versus Rs 183 crore
Margin at 32.15% versus 31.74%
Net profit up 6.3% at Rs 158 crore versus Rs 149 crore
Dalmia Bharat Sugar Q2FY25 (Consolidated, YoY)
Revenue up 26.6% at Rs 926 crore versus Rs 732 crore
Ebitda up 0.1% at Rs 65.6 crore versus Rs 65.5 crore
Margin at 7.1% vs 8.9%
Net profit up 20.5% at Rs 66.2 crore versus Rs 54.9 crore
Paradeep Phosphates Q2FY25 (Consolidated, YoY)
Revenue up 4.4% at Rs 3,844 crore versus Rs 3,683 crore
Ebitda up 66.2% at Rs 425 crore versus Rs 256 crore
Margin at 11.1% versus 7%
Net profit at Rs 228 crore vs Rs 89.4 crore
SIS Q2FY25 (Consolidated, YoY)
Revenue up 6.4% at Rs 3,269 crore versus Rs 3,074 crore
Ebitda up 0.2% at Rs 145 crore versus Rs 144 crore
Margin at 4.4% versus 4.7%
Net profit down 8.5% at Rs 68.8 crore versus Rs 75.2 crore
NOCIL Q2FY25 (Consolidated, YoY)
Revenue up 3.4% at Rs 363 crore versus Rs 351 crore
Ebitda down 17.3% at Rs 37.8 crore versus Rs 45.7 crore
Margin at 10.4% versus 13%
Net profit up 55.1% at Rs 42.1 crore versus Rs 27.2 crore
Anant Raj Q2FY25 (Consolidated, YoY)
Revenue up 54.3% at Rs 513 crore versus Rs 332 crore
Ebitda up 41.2% at Rs 113 crore versus Rs 79.9 crore
Margin at 22% vs 24%
Net profit up 75% at Rs 106 crore versus Rs 60.4 crore
Shree Renuka Sugars Q2FY25 (Consolidated, YoY)
Revenue up 0.4% at Rs 2,566 crore versus Rs 2,555 crore
Ebitda at Rs 236 crore versus Rs 87.4 crore
Margin at 9.2% versus 3.4%
Net loss of Rs 23.1 crore versus loss of Rs 206 crore
Ideaforge 2QFY25 (Consolidated QoQ):
Revenue at Rs 37 crore versus Rs 23 crore
Ebit loss at 17 crore versus profit of Rs 2 crore
Net loss at 13 crore versus profit of 0.9 crore
Vesuvius 2QFY25 (Standalone YoY)
Revenue at Rs 443 crore versus Rs 410 crore
Ebit at Rs 89.51 crore versus 77.69 crore
Margin at 20.2% versus 18.9%
Net profit at Rs 89.86 crore versus Rs 80.82 crore
Unicommerce 2QFY25 (Consolidated YoY):
Revenue up 13% at Rs 29.3 crore versus Rs 25.9 crore
Ebitda up 58.7% at Rs 5.7 crore versus Rs 3.6 crore
Margin at 19.5% vs 13.9%
Profits up 21% at 4.47 crore versus Rs 3.69 crore
Indegene 2QFY25 (Consolidated YoY):
Revenue up 8% at Rs 686.8 crore versus Rs 635.7 crore
Ebitda up 3.5% at 126.7 crore versus Rs 122.4 crore
Margin at 18.4% versus 19.2%
Profits up 22% at Rs 91.7 crore versus Rs 75 crore
ADF Foods 2QFY25 (Consolidate YoY)
Revenue up 30% at Rs 161 crore versus Rs 125 crore
Ebitda up 27% at Rs 28 crore versus Rs 22 crore
Ebitda margin at 17.2% versus 17.5%
Net profit up 32% at Rs 20 crore versus Rs 15 crore
RailTel Corporation of India 2QFY25 (YoY)
Revenue up 41% at Rs 843 crore versus Rs 599 crore
Ebitda up 1.5% at Rs 129 crore versus Rs 127 crore
Ebitda margin at 15.3% versus 21.3%
Net profit up 6.5% at Rs 73 crore versus Rs 68 crore
IPO Update: Swiggy IPO Launches On Nov 6, Closes Nov 8
IPO to launch on Nov. 6 close on Nov. 8
To raise Rs 11,327.40 crore including Rs 4499 crore in fresh issue
Issue likely to be priced between Rs 371-390 per share
Swiggy valued at Rs 87299 crore or $10.38 billion at RS 390 apiece
Issue comprises of 13% equity on fully diluted basis
Source: RHP
Jefferies On Bharat Electronics
Jefferies maintains 'buy' on BEL with target of Rs 370, implying 36% upside. It said margin strength gives confidence on profitability sustaining and annual order flow of Rs 20,000-25,000 remains sustainable over medium term. Jefferies believe exports mix to rise to 10% by FY30E vs 3-4% in FY24 and expects stock re-rating as orders and earnings come through
Oil Price Update: Crude Futures Trade Higher
Crude Oil Futures recovered after their steep fall on Monday. As of 7:34 a.m. futures contract of of brent crude was 0.4% higher at $71.70 a barrel and that of WTI Crude was also 0.4% up at $67.66 a barrel.
On Monday, they had fallen by more than 6%, WTI Crude's worst session since July 12 after Iranian energy facilities were not damaged during Israeli strikes over the weekend.
Asia Markets Open: Most Indices Higher; Hang Seng Adds 1%
Most indices in the Asia-pacific region saw a positive start with Hong Kong's Hang Seng rising the most by 1% as of 7:19 a.m., when Japan's Nikkei was 0.6% higher, Australia's ASX 200 rose 0.5% but South Korea's Kospi traded 0.2% lower.
US Market Close: Indices Close Higher Ahead Of Key Earnings
Benchmark equity indices in the US closed higher on Monday as market participants look forward to a week full of quarterly earnings of major companies. S&P 500 closed 0.27% higher at 5,823.52, Dow Jones rose 0.65% to close at 42,387.57, and Nasdaq Composite was 0.26% up at 18,567.19. Pfizer, Mcdonalds, Alphabet, Reddit, Meta, Microsoft, and Apple are some of the major earnings due this week.
GIFT Nifty Trades Below 24,400; Airtel, Kalpataru, NTPC, Prestige Estate Shares In Focus
As of 6:53 a.m. GIFT Nifty traded 25 points or 0.1% lower at 24,390.00. Among others share prices of Bharti Airtel Ltd., NTPC Ltd., Kalpataru Projects Ltd., and Prestige Estate Projects Ltd. will be in focus.
On Monday, the NSE Nifty 50 and the BSE Sensex snapped a five-session losing streak as the share price of ICICI Bank Ltd. and Mahindra & Mahindra Ltd. led the gains. The benchmark indices recorded the best session in one month.
The Nifty 50 ended 158.35 points or 0.65% higher at 24,339.15, and the Sensex closed 602.75 points or 0.76% up at 80,005.04.
Overseas investors remained net sellers of Indian equities for the 21st consecutive session on Monday, while domestic institutional investors stayed net buyers for the 25th straight session.
The foreign portfolio investors offloaded stocks worth approximately Rs 3,228.1 crore and DIIs bought stocks worth Rs 1,400.9 crore.
The Indian currency closed flat against the US dollar at 84.0700 on Monday.
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