Most share indices in Asia–Pacific were trading lower on Monday as details of China stimulus did not boost investors' confidence to revive the demand in the world's second largest country.
The Kospi and S&P ASX indices were trading 0.99% and 0.47% down, respectively. Bucking the trend, the Nikkei 225 was 0.01% higher as of 06:46 a.m.
On Friday, most stocks ended higher. The S&P 500 and Nasdaq Composite indices ended 0.38% and 0.09% higher, respectively. The Dow Jones Industrial Average ended 0.59% up.
The January future contract of the brent crude was trading 0.31% lower at $73.64 a barrel as of 6:34 a.m.
The GIFT Nifty was trading 0.02% higher at 24,122.00 as of 06:49 a.m.
The NSE Nifty 50 and BSE Sensex erased weekly gains as global political and economic events caused volatility in the domestic markets. The benchmark indices ended lower for second day in a row on Friday, as ICICI Bank Ltd. and Reliance Industries Ltd. share prices dragged.
The Nifty 50 ended 51.15 points, or 0.21% down at 24,148.20, and the Sensex ended 55.47 points, or 0.07% lower at 79,486.32.
During the day, the Nifty 50 declined as much as 0.55% to 24,066.65, and the Sensex fell 0.53% to 79,117.37.
Overseas investors remained net sellers of Indian equities for the 30th consecutive session on Friday, while domestic institutional investors stayed net buyers.
Foreign portfolio investors sold stocks worth Rs 3,404 crore, the DIIs mopped up stocks worth approximately Rs 1,748 crore, according to provisional data from the National Stock Exchange.
The Indian currency closed flat against the US dollar at 84.375 on Friday.
Earnings In Focus
Oil & Natural Gas Corp, Bajaj Consumer Care, Balrampur Chini Mills, Bank of India, BEML, Bengal and Assam Co., BLS International Services, Blue Dart Express, Borosil Renewables, Britannia Industries, Campus Activewear, Devyani International, Dollar Industries, EIH Associated Hotels, ELGI Equipments, Electronics Mart India, EPL, Galaxy Surfactants, Gateway Distriparks, GNFC, Godfrey Phillips India, Goodluck India, Graphite India, Harsha Engineers International, Hindalco Industries, Hindustan Copper, Insecticides (India), Jubilant Foodworks, National Fertilizers, PG Electroplast, Precision Wires India, Premier Explosives, the Ramco Cements, Ramco Industries, RateGain Travel Technologies, Keystone Realtors, Sandhar Technologies, Sansera Engineering, Shree Cement, SML Isuzu, Suprajit Engineering, TCPL Packaging, Time Technoplast, Triveni Turbine, TVS Supply Chain Solutions, Vaibhav Global, and Zydus Wellness, are the prominent firms that will announce their results on Monday for the second quarter of the current financial year.
Earnings Post Market Hours
LIC Q2 FY25 (Consolidated, YoY)
Net Profit down 3.7% at Rs 7,729 crore versus Rs 8,030 crore (Bloomberg estimates Rs 8,435 crore).
Net Premium Income up 11.5% at Rs 1.2 lakh crore versus Rs 1.1 lakh crore.
APE up 25.74% Rs 16,465 crore versus 13,095 crore.
VNB up 46.9% Rs 2,941 crore versus Rs 2,002 crore.
VNB Margin at 17.86% versus 15.29%.
13th month Persistency ratio at 68.17% versus 71.19%.
61st month Persistency ratio at 54.76% versus 55.17%.
Tata Motors Q2 FY25 (Consolidated, YoY)
Revenue down 3.5% at Rs 1.01 lakh crore versus 1.05 lakh crore (Estimate: Rs 1,03,005 crore).
Ebitda down 14.2% at Rs 11,736 crore versus Rs 13,676 crore (Estimate: Rs 14,636 crore).
Margin down 140 basis points at 11.6% versus 13% (Estimate: 14.20%).
Net profit down 10% at Rs 3,450 crore versus Rs 3,832 crore (Estimate: Rs 4,805 crore).
Orient Cement Q2 FY25 (Consolidated, YoY)
Revenue down 24.55% at Rs 544 crore versus Rs 721 crore (Bloomberg estimate Rs 636 crore).
Ebitda down 48.27% at Rs 45 crore versus Rs 87 crore (Bloomberg estimate Rs 70 crore).
Ebitda margin down 379 bps at 8.27% versus 12.06% (Bloomberg estimate 11.1%).
Net profit down 92% at Rs 2 crore versus Rs 25 crore (Bloomberg estimate Rs 19 crore).
Deferred Tax of Rs 8.2 crore.
Mayur Uniquoters Q2 FY25 (Consolidated, YoY)
Revenue up 2.46% at Rs 208 crore versus Rs 203 crore.
Ebitda down 0.23% at Rs 42.5 crore versus Rs 42.6 crore.
Ebitda margin down 55 bps at 20.43% versus 20.98%.
Net profit up 25% at Rs 40 crore versus Rs 32 crore.
Jupiter Wagons Q2 FY25 (Consolidated, YoY)
Revenue up 14.78% at Rs 1,009 crore versus Rs 879 crore (Bloomberg estimate Rs 1,082 crore).
Ebitda up 16.66% at Rs 140 crore versus Rs 120 crore (Bloomberg estimate Rs 173 crore).
Ebitda margin up 22 bps at 13.87% versus 13.65% (Bloomberg estimate 16%).
Net profit up 8.53% at Rs 89 crore versus Rs 82 crore (Bloomberg estimate Rs 116 crore).
Aarti Industries Q2 FY25 (Consolidated, YoY)
Revenue up 11.96% at Rs 1,628 crore versus Rs 1,454 crore (Bloomberg estimate Rs 1,655 crore).
Ebitda down 15.45% at Rs 197 crore versus Rs 233 crore (Bloomberg estimate Rs 243 crore).
Ebitda margin down 392 bps at 12.1% versus 16.02% (Bloomberg estimate 14.7%).
Net profit down 42.85% at Rs 52 crore versus Rs 91 crore (Bloomberg estimate Rs 77 crore).
Ola Electric Q2 FY25 (Consolidated, YoY)
Revenue up 39% at Rs 1,214 crore versus Rs 873 crore.
Ebitda loss of Rs 379 crore versus Ebitda loss of Rs 435 crore.
Net loss of Rs 495 crore versus loss of Rs 524 crore.
Premier Energies Q2 FY25 (Consolidated, YoY)
Revenue up 120.02% at Rs 1527 crore versus Rs 694 crore.
Ebitda up 284.84% at Rs 381 crore versus Rs 99 crore.
Ebitda margin up 1068 bps at 24.95% versus 14.26%.
Net profit up 288.67% at Rs 206 crore versus Rs 53 crore.
Deferred tax write back of Rs 20.2 crore.
Jupiter Life Line Hospitals Q2 FY25 (Consolidated, YoY)
Revenue up 22.43% at Rs 322 crore versus Rs 263 crore (Bloomberg estimate Rs 302 crore).
Ebitda up 21.31% at Rs 74 crore versus Rs 61 crore (Bloomberg estimate Rs 72 crore).
Ebitda margin down 21 bps at 22.98% versus 23.19% (Bloomberg estimate 23.6%).
Net profit up 50% at Rs 51 crore versus Rs 34 crore (Bloomberg estimate Rs 49 crore).
Relaxo Footwear Q2 FY25 (Consolidated, YoY)
Revenue down 5.04% at Rs 679 crore versus Rs 715 crore (Bloomberg estimate Rs 746 crore).
Ebitda down 4.34% at Rs 88 crore versus Rs 92 crore (Bloomberg estimate Rs 99 crore).
Ebitda margin up 9 bps at 12.96% versus 12.86% (Bloomberg estimates 13.3%).
Net profit down 15.9% at Rs 37 crore versus Rs 44 crore (Bloomberg estimate Rs 43 crore).
CE Info Systems Q2 FY25 (Consolidated, QoQ)
Revenue up 1.96% at Rs 104 crore versus Rs 102 crore (Bloomberg estimates Rs 120 crore).
EBIT down 17.8% at Rs 31.75 crore versus Rs 38.63 crore (Bloomberg estimates Rs 45 crore).
EBIT margin down 734 bps at 30.52% versus 37.87% (Bloomberg estimates 37.7%).
Net profit down 16.66% at Rs 30 crore versus Rs 36 crore (Bloomberg estimates Rs 42 crore).
Fine Organic Industries Q2 FY25 (Consolidated, YoY)
Revenue up 10.16% at Rs 596 crore versus Rs 541 crore (Bloomberg estimate Rs 579 crore).
Ebitda up 15.08% at Rs 150.42 crore versus Rs 130.7 crore (Bloomberg estimate Rs 145 crore).
Ebitda margin up 107 bps at 25.23% versus 24.15% (Bloomberg estimate 25.1%).
Net profit up 12.5% at Rs 117 crore versus Rs 104 crore (Bloomberg estimate Rs 117 crore).
Welspun Corp Q2 FY25 (Consolidated, YoY)
Revenue down 18.65% at Rs 3302 crore versus Rs 4059 crore (Bloomberg estimates Rs 2,819 crore).
Ebitda at Rs 399 crore versus Rs 399 crore (Bloomberg estimates Rs 389 crore).
Ebitda margin up 225 bps at 12.08% versus 9.83% (Bloomberg estimates 13.8%).
Net profit down 26.87% at Rs 283 crore versus Rs 387 crore (Bloomberg estimates Rs 218 crore).
Purvankara Q2 FY25 (Consolidated, YoY)
Revenue up 34.51% at Rs 495 crore versus Rs 368 crore (Bloomberg estimate Rs 595 crore).
Ebitda up 31.76% at Rs 112 crore versus Rs 85 crore.
Ebitda margin down 47 bps at 22.62% versus 23.09%.
Net loss at Rs 17 crore versus loss of Rs 11 crore (Bloomberg estimates Rs 28 crore).
Dreamfolks Services Q2 FY25 (Consolidated, YoY)
Revenue up 12.2% at Rs 317 crore versus Rs 282 crore (Bloomberg estimate Rs 347 crore).
Ebitda down 5% at Rs 23 crore versus Rs 24.2 crore (Bloomberg estimate Rs 32 crore).
Ebita margin at 7.3% versus 8.6% (Bloomberg estimate Rs 9.1%).
Net profit down 9.1% at Rs 16 crore versus Rs 17.6 crore (Bloomberg estimate Rs 24 crore).
Fortis Healthcare Q2 FY25 (Consolidated, YoY)
Revenue up 12.37% at Rs 1988 crore versus Rs 1769 crore (Bloomberg estimate Rs 1,973 crore).
Ebitda up 31.91% at Rs 434 crore versus Rs 329 crore (Bloomberg estimates Rs 399 crore).
Ebitda margin up 323 bps at 21.83% versus 18.59% (Bloomberg estimates 20.2%).
Net profit up 4.89% at Rs 193 crore versus Rs 184 crore (Bloomberg estimates Rs 205 crore).
Deferred tax write back 60 crore.
GE Vernova T&D Q2 FY25 (YoY)
Revenue up 58.73% at Rs 1,108 crore versus Rs 698 crore (Bloomberg estimate Rs 963 crore).
Ebitda up 236.06% at Rs 205 crore versus Rs 61 crore (Bloomberg estimate Rs 139 crore).
Ebitda margin up 976 bps at 18.5% versus 8.73% (Bloomberg estimate 14.4%).
Net profit up 291.89% at Rs 145 crore versus Rs 37 crore (Bloomberg estimate Rs 98 crore).
Deferred tax credit of Rs 12.6 crore.
Metropolis Healthcare Q2 FY25 (Consolidated, YoY)
Revenue up 13.4% at Rs 350 crore versus Rs 309 crore (Bloomberg estimate Rs 350 crore).
Ebitda up 20.2% at Rs 89.9 crore versus Rs 74.8 crore (Bloomberg estimate Rs 90 crore).
Ebitda Margin at 25.7% versus 24.2% (Bloomberg estimates 25.8%).
Net Profit up 31% at Rs 46.7 crore versus Rs 35.7 crore (Bloomberg estimate Rs 47 crore).
Samhi Hotels Q2 FY25 (Consolidated, YoY)
Revenue up 20.7% at Rs 266 crore versus Rs 220 crore (Bloomberg estimate Rs 267 crore).
Ebitda up 81.4% at Rs 92.2 crore versus Rs 50.8 crore (Bloomberg estimate Rs 87 crore).
Margin at 34.7% versus 23.1% (Bloomberg estimate 32.7%).
Net Profit at Rs 12.6 crore versus Loss of Rs 88 crore (Bloomberg estimate Rs 11 crore).
Signature Global Q2 FY25 (Consolidated, YoY)
Revenue at Rs 749 crore versus Rs 98.5 crore.
Ebitda Loss of Rs 11.8 crore versus Ebitda loss of Rs 30.6 crore.
Net Profit at Rs 4.2 crore versus Loss of Rs 19.9 crore.
Alert: Co has deferred tax credit of Rs 29 crore in current quarter.
GIC Housing Q2 FY25
Revenue down 1.7% at Rs 266 crore versus Rs 270 crore.
Net profit up 21% at Rs 36.5 crore versus Rs 30.2 crore.
SMS Pharma Q2 FY25 (Consolidated, YoY)
Revenue up 17.96% at Rs 197 crore versus Rs 167 crore.
Ebitda up 13.79% at Rs 33 crore versus Rs 29 crore.
Ebitda margin down 61 bps at 16.75% versus 17.36%.
Net profit up 16.66% at Rs 14 crore versus Rs 12 crore.
Shipping Corp Q2 FY25 (Consolidated, YoY)
Revenue up 32.7% at Rs 1,451 crore versus Rs 1,093 crore
Ebitda at Rs 533 crore versus Rs 236 crore
Ebitda margin at 36.7% versus 21.6%
Net profit at Rs 291 crore versus Rs 65.7 crore
Stocks To Watch
HAL: The company received contract for avionics upgrade of dornier-228 transport aircraft.
Mahindra Lifespace: The company arm signed joint development pact with GKW for 37-acre land parcel in Bhandup, Mumbai.
Adani Energy: The company’s UAE Arm incorporates Kenya-based unit Progressive Grid Networks.
Suzlon Energy: New Business CEO Ishwar Chand Mangal resigned from the company.
Wipro: The company signed definitive pact to subscribe for equity in Ampin Energy C&I One.
JSW Steel: Coal Minustry terminated pact for developing Mand-Raigarh Coal Block Mand-Raigarh coal block was not techno-commercially suitable.
IPO Offering
Swiggy: The public issue was subscribed to 3.59 times on day 3. The bids led by qualified institutional investors (6.02 times), non-institutional investors (0.41 times), retail investors (1.14 times), reserved for employees (1.65 times).
Acme Solar Holdings: The public issue was subscribed to 2.75 times on day 3. The bids were led by qualified institutional investors (3.54 times), non-institutional investors (0.97 times), retail investors (3.10 times), reserved for employees (1.59 times).
Niva Bupa Health Insurance: The public issue was subscribed to 1.17 times on day 2. The bids led by qualified institutional investors (1.5 times), non-institutional investors (0.4 times), retail investors (1.34 times).
Block Deals
Wipro: Prazim Traders sold 4.49 crore shares (0.85%) at Rs 560 apiece, Zash Traders sold 4 crore shares (0.76%) at Rs 560 apiece, while Prazim Trading and Investment Co. bought 8.49 crore shares (1.62%) at Rs 560 apiece.
Bulk Deals
Tuticorin Alkali Chemicals and Fertilizers: Walery Security Management bought 10.25 lakh shares (0.84%) at Rs 97.5 apiece.
Pledge Share Details
Apollo Micro Systems: Promoter Karunakar Reddy Baddam created a pledge for 32.2 lakh shares on Nov. 6.
Paisalo Digital: Promoter Equilibrated Venture Cflow created a pledge for 1.6 crore shares on Nov. 7.
Trading Tweaks
Ex/dividend: TD Power System, DCM Shriram.
Price band change from 20% to 10%: Hercules Hoists
Moved in short Term ASM: JSW Holdings, Kross, Syrma SGS Technology.
F&O Cues
Nifty November futures down by 0.43% to 24,219 at a premium 71 points.
Nifty November futures open interest down by 1.22%.
Nifty Bank November futures down by 0.84% to 51,788 at a premium of 227 points.
Nifty Bank November futures open interest up 2.7%.
Nifty Options Nov. 14 Expiry: Maximum call open interest at 25,000 and maximum put open interest at 22,250.
Bank Nifty Options Nov. 13 Expiry: Maximum call open interest at 52,500 and maximum put open interest at 49,000.
Securities in ban period: Aditya Birla Fashion Retail, Granules, Manappuram.
Money Market
The Indian rupee closed flat against dollar on Friday after having opened marginally stronger amid a surge in the dollar index during overnight trade as Donald Trump’s victory might lead to higher US interest rates, aggressive policies, and tariff threats.
The domestic currency depreciated to close at Rs 84.375 after opening 2 paise stronger at Rs 84.36 on Friday. It closed at Rs 84.376 on Thursday, according to Bloomberg data.
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