Japan's benchmarks outperformed in the Asia–Pacific as the yen continued to fall against the US unit. The Nikkei 225 was trading 176.83 points, 0.45% higher at 39,710.15 as of 06:49 a.m.
Moreover, Japan's Prime Minister Shigeru Ishiba pledged more than $65 billion support for the country's semiconductor and artificial intelligence segments' development over the next decade, Bloomberg reported.
Meanwhile, the Kospi and S&P ASX 200 declined 0.99% and 0.37% down, respectively as of 06:50 a.m.
After hitting fresh highs on Monday, the Dow Jones Industrial Average ended 0.69% higher at 44,293.13. The S&P 500 ended 0.10% higher at 6,001.35. The Nasdaq Composite ended 0.6% higher at 19,298.77.
Brent crude was trading 0.33% higher at $72.07 a barrel. Gold spot rose 0.12% to $2,622.02 an ounce as of 6:50 a.m.
The GIFT Nifty was 0.06%, or 14.50 points down at 24,225.00 as of 06:53 a.m.
The NSE Nifty 50 and BSE Sensex ended the choppy session little changed on Monday. Asian Paints Ltd. and Reliance Industries Ltd. share prices dragged the indices, while HDFC Bank Ltd. and ICICI Bank Ltd. supported the benchmarks.
The Nifty 50 ended 6.90 points, or 0.03% lower at 24,141.30, and the Sensex ended 9.83 points, or 0.01% higher at 79,496.15.
Overseas investors remained net sellers of Indian equities for the 31st consecutive session on Monday, while domestic institutional investors stayed net buyers for the sixth straight session. The FPIs offloaded stocks worth Rs 2,306.88 crore, while domestic institutional investors bought stocks worth Rs 2,026.63 crore, according to provisional data from the National Stock Exchange.
The Indian currency closed flat at 84.388 against the US dollar.
Earnings In Focus
3M INDIA, Ashoka Buildcon, Aditya Vision, BASF India, Bosch, CERA Sanitaryware, CESC, Cupid, EIH, Finolex Cables, Greaves Cotton, GSFC, Infibeam Avenues, Ingersoll-Rand (INDIA), ION Exchange (INDIA), Jyothy Labs, Kirloskar Oil Engines, KNR Constructions, Lux Industries, Marksans Pharma, Medplus Health Services, Minda Corporation, Samvardhana Motherson International, Natco Pharma, Nucleus Software Exports, FSN E-Commerce Ventures, PNC Infratech, Polyplex Corporation, PTC INDIA, Repco Home Finance, Sula Vineyards, Sundaram-Clayton, Sunflag Iron and Steel, Suven, Pharmaceuticals, Techno Electric and Engineering Company, Technocraft Industries, and Zydus Lifesciences.
Earnings Post Market Hours
Premier Explosives Q2 FY25 (Consolidated, YoY)
Revenue up 21.79% at Rs 95 crore versus Rs 78 crore.
Ebitda down 14.28% at Rs 18 crore versus Rs 21 crore.
Ebitda margin down 797 bps at 18.94% versus 26.92%.
Net profit down 33.33% at Rs 8 crore versus Rs 12 crore.
Hindalco Industries Q2 FY25 (Consolidated, YoY)
Revenue up 7.44% at Rs 58,203 crore versus Rs 54,169 crore (Estimate Rs 55,132 crore).
Ebitda up 40.46% at Rs 7,883 crore versus Rs 5,612 crore (Estimate Rs 7190 crore).
Ebitda margin up 318 bps at 13.54% versus 10.36% (Estimate Rs 13%).
Net profit up 78% at Rs 3,909 crore versus Rs 2,196 crore (Rs 3,298 crore).
Deferred tax expense of Rs 109 crore in this quarter versus 281 crores in last quarter same year.
Jubilant Foodworks Q2 FY25 (Consolidated, YoY)
Revenue up 42.8% at Rs 1,955 crore versus Rs 1,369 crore (Estimate Rs 1,816 crore).
Ebitda up 43.16% at Rs 398 crore versus Rs 278 crore (Estimate Rs 328 crore).
Ebitda margin up 5 bps at 20.35% versus 20.3% (Estimate 18.1%).
Net profit down 31.95% at Rs 66 crore versus Rs 97 crore (Estimate Rs 63 crore).
Insecticides India Q2 FY25 (Consolidated, YoY)
Revenue down 9.92% at Rs 627 crore versus Rs 696 crore (Estimate Rs 695 crore).
Ebitda up 9.75% at Rs 90 crore versus Rs 82 crore (Estimate Rs 95 crore).
Ebitda margin up 257 bps at 14.35% versus 11.78% (Estimate 13.6%).
Net profit up 15.09% at Rs 61 crore versus Rs 53 crore (Estimate Rs 61.5 crore).
ONGC Q2FY25 Earnings (Consolidated, QOQ)
Revenue down 5.78% at Rs 1.58 lakh crore versus Rs 1.68 lakh crore.
Ebitda down 5.18% at Rs 20,506.84 crore versus Rs 21,626.55 crore.
Margin at 12.95% versus 12.87% up 8 bps.
Net profit up 0.69% at Rs 9878.44 crore versus Rs 9810.18 crore.
Net profit aided by Rs 460 crore deferred tax that help reduce total taxes payable.
Shree Cement Q2 FY25 (Consolidated, YoY)
Revenue down 15.1% at Rs 4,054 crore versus Rs 4,774 crore (Estimate: Rs 5,079.2 crore).
Ebitda down 30.8% at Rs 613 crore versus Rs 886 crore (Estimate: Rs 733.7 crore).
Margin at 15.1% versus 18.6% (Estimate: 14.4%).
Net Profit down 82.8% at Rs 76.6 crore versus Rs 447 crore (Estimate: Rs 273.9 crore).
H.G. Infra Engineering Q2 FY25 (Consolidated, YoY)
Revenue down 5.46% at Rs 902 crore versus Rs 954 crore.
Ebitda down 0.45% at Rs 219 crore versus Rs 220 crore.
Ebitda margin up 121 bps at 24.27% versus 23.06%.
Net profit down 15.62% at Rs 81 crore versus Rs 96 crore.
Goodluck India Q2 FY25 (Consolidated, YoY)
Revenue up 6.9% at Rs 976 crore versus Rs 913 crore.
Ebitda down 5.33% at Rs 71 crore versus Rs 75 crore.
Ebitda margin down 94 bps at 7.27% versus 8.21%.
Net profit up 30.55% at Rs 47 crore versus Rs 36 crore.
ELGI Equipments Q2 FY25 (Consolidated, YoY)
Revenue up 7.81% at Rs 869 crore versus Rs 806 crore (Estimate Rs 890 crore).
Ebitda down 0.69% at Rs 142 crore versus Rs 143 crore (Estimate Rs 145 crore).
Ebitda margin down 140 bps at 16.34% versus 17.74% (Estimate 16.3%).
Net profit up 4.39% at Rs 95 crore versus Rs 91 crore (Estimate Rs 105 crore).
National Fertilizers Q2 FY25 (Consolidated, YoY)
Revenue down 22.37% at Rs 4,390 crore versus Rs 5,655 crore.
Ebitda at Rs 125 crore versus loss of Rs 60 crore.
Ebitda margin 2.84%.
Net profit at Rs 12 crore versus loss of Rs 87.1 crore.
HMA Agro Industries Q2 FY25 (Consolidated, YoY)
Revenue up 22.16% at Rs 1,466 crore versus Rs 1,200 crore.
Ebitda up 100% at Rs 58 crore versus Rs 29 crore.
Ebitda margin up 153 bps at 3.95% versus 2.41%.
Net profit up 783.33% at Rs 53 crore versus Rs 6 crore.
TCPL Packaging Q2 FY25 (Consolidated, YoY)
Revenue up 14.03% at Rs 455 crore versus Rs 399 crore (Estimate Rs 442 crore).
Ebitda up 18.96% at Rs 69 crore versus Rs 58 crore (Estimate Rs 72 crore).
Ebitda margin up 62 bps at 15.16% versus 14.53% (Estimate 16.3%).
Net profit up 28.57% at Rs 36 crore versus Rs 28 crore (Estimate Rs 35.4 crore).
The Ramco Cements Q2 FY25 (Consolidated, YoY)
Revenue down 12.65% at Rs 2,044 crore versus Rs 2,340 crore (Estimate Rs 2,057 crore).
Ebitda down 22.66% at Rs 314 crore versus Rs 406 crore (Estimate Rs 296 crore).
Ebitda margin down 198 bps at 15.36% versus 17.35% (Estimate 14.4%).
Net profit down 63.88% at Rs 26 crore versus Rs 72 crore (Estimate Rs 37 crore).
Sansera Engineering Q2 FY25 (Consolidated, YoY)
Revenue up 10.1% at Rs 763 crore versus Rs 693 crore (Estimate Rs 791 crore).
Ebitda up 11.86% at Rs 132 crore versus Rs 118 crore (Estimate Rs 138 crore).
Ebitda margin up 27 bps at 17.3% versus 17.02% (Estimate Rs 17.4%).
Net profit up 10.63% at Rs 52 crore versus Rs 47 crore (Estimate Rs 57 crore).
Hindustan Copper Q2 FY25 (Consolidated, YoY)
Revenue up 35.95% at Rs 518 crore versus Rs 381 crore.
Ebitda up 25.61% at Rs 152 crore versus Rs 121 crore.
Ebitda margin down 241 bps at 29.34% versus 31.75%.
Net profit up 67.21% at Rs 102 crore versus Rs 61 crore.
Bank of India Q2 FY25 (Standalone, YoY)
NII up 4% at Rs 5,985 crore versus Rs 5,740 crore
Net NPA at 0.94% versus 0.99% (QoQ)
Gross NPA at 4.41% versus 4.62% (QoQ)
Net Profit up 62.8% at Rs 2,374 crore versus Rs 1,458 crore
Britannia Industries Q2 FY25 (Consolidated, YoY)
Revenue up 5.3% at Rs 4,667 crore versus Rs 4,432 crore (Estimate Rs 4769 crore).
Ebitda down 10.1% at Rs 783 crore versus Rs 871 crore (Estimate Rs 895 crore).
Ebitda margin down 287 bps at 16.77% versus 19.65% (Estimate: 18.8%).
Net profit down 9.21% at Rs 532 crore versus Rs 586 crore (Estimate Rs 630 crore).
Azad Engineering Q2 FY25 (Consolidated, YoY)
Revenue up 34.6% to Rs 112 crore versus Rs 83 crore.
Ebitda up 51% to Rs 40 crore versus Rs 26 crore.
Margin at 35.7% versus 31.8%.
Net profit up 7% to Rs 21 crore versus Rs 19 crore.
Vaibhav Global Q2 FY25 (Consolidated, YoY)
Revenue up 13% to Rs 796 crore versus Rs 705 crore.
Ebitda down 5% to Rs 60 crore versus Rs 63 crore.
Margin at 7.6% versus 9.0%.
Net profit down 4% to Rs 28 crore versus Rs 29 crore.
EPL Q2 FY25 (Consolidated, YoY)
Revenue up 8.4% to Rs 1,086 crore versus Rs 1,002 crore (Bloomberg estimates Rs 1,113 crore).
Ebitda up 22% to Rs 220 crore versus Rs 181 crore (Bloomberg estimates Rs 222.4 crore).
Margin at 20.3% versus 18.1% (Bloomberg estimates 20%).
Net profit up 69% to Rs 88 crore versus Rs 52 crore (Bloomberg estimates Rs 86 crore).
BLS International Services Q2FY25 (Consolidated, YoY)
Revenue up 21.32% at Rs 495 crore versus Rs 408 crore.
Ebitda up 89.65% at Rs 165 crore versus Rs 87 crore.
Ebitda margin up 1200 bps at 33.33% versus 21.32%.
Net profit up 78.04% at Rs 146 crore versus Rs 82 crore.
NMDC Q2 FY25 (Consolidated, YoY)
Revenue up 22.5% to Rs 4,919 crore versus Rs 4,014 crore.
Ebitda up 16% to Rs 1,386 crore versus Rs 1,190 crore.
Margin at 28.2% versus 29.7%.
Net profit up 17% to Rs 1,196 crore versus Rs 1,025 crore.
Galaxy Surfactants Q2 FY25 (Consolidated, YoY)
Revenue up 8.13% at Rs 1,063 crore versus Rs 983 crore. (Estimate Rs 1,038 crore)
Ebitda up 2.4% at Rs 128 crore versus Rs 125 crore. (Estimate Rs 135 crore)
Ebitda margin down 67 bps at 12.04% versus 12.71%. (Estimate 13%)
Net profit up 10.38% at Rs 85 crore versus Rs 77 crore. (Estimate Rs 87 crore)
Dollar Industries Q2 FY25 (Consolidated, YoY)
Revenue up 8.3% to Rs 447 crore versus Rs 413 crore (Bloomberg estimates Rs 459 crore).
Ebitda up 17% to Rs 49 crore versus Rs 42 crore (Bloomberg estimates Rs 52.5 crore).
Margin at 10.9% versus 10.1% (Bloomberg estimates 11.40%).
Net profit up 6% to Rs 26 crore versus Rs 25 crore.
Bengal & Assam Company Q2 FY25 (Consolidated, YoY)
Total income up 12.6% at Rs 614 crore versus Rs 545 crore.
Net profit down 50.2% at Rs 128 crore versus Rs 256 crore.
Triveni Turbine Q2 FY25 (Consolidated, YoY)
Revenue up 29.12% at Rs 501 crore versus Rs 388 crore.
Ebitda up 48.52% at Rs 110.8 crore versus Rs 74.6 crore.
Ebitda margin up 288 bps at 22.11% versus 19.22%.
Net profit up 42.18% at Rs 91 crore versus Rs 64 crore.
TVS Supply Chain Solutions Q2 FY25 (Consolidated, YoY)
Revenue up 11.04% at Rs 2,513 crore versus Rs 2,263 crore.
Ebitda down 8.1% at Rs 170 crore versus Rs 185 crore.
Ebitda margin down 141 bps at 6.76% versus 8.17%.
Net profit at Rs 11 crore versus loss of Rs 41 crore.
Suprajit Engineering Q2 FY25 (Consolidated, YoY)
Revenue up 17.48% at Rs 833 crore versus Rs 709 crore.
Ebitda down 12.67% at Rs 62 crore versus Rs 71 crore.
Ebitda margin down 257 bps at 7.44% versus 10.01%.
Net profit down 98.85% at Rs 0.4 crore versus Rs 35 crore.
Deferred tax credit of Rs 3.4 crore.
Time Technoplast Q2 FY25 (Consolidated, YoY)
Revenue up 14.82% at Rs 1,371 crore versus Rs 1,194 crore.
Ebitda up 18.67% at Rs 197 crore versus Rs 166 crore.
Ebitda margin up 46 bps at 14.36% versus 13.9%.
Net profit up 40.84% at Rs 100 crore versus Rs 71 crore.
Blue Dart Express Q2 FY25 (Consolidated, YoY)
Revenue up 9.36% at Rs 1448 crore versus Rs 1324 crore (Estimate Rs 1,468 crore).
Ebitda down 2.24% at Rs 218 crore versus Rs 223 crore (Estimate Rs 235 crore).
Ebitda margin down 178 bps at 15.05% versus 16.84% (Estimate 16%).
Net profit down 13.69% at Rs 63 crore versus Rs 73 crore (Estimate Rs 77 crore).
Stocks To Watch
Ashapuri Gold Ornament: The company has partnered with Titan for supply of gold jewellery.
L&T Technology: The company signed a definitive pact to acquire Silicon Valley-based Intelliswift for $110 million.
Welspun Corp.: The company’s arm, Welspun Mauritius Holdings, divested a 5% stake in Saudi Arabia-based East Pipes Integrated for $58 million.
RVNL: The company emerged as the lowest bidder from South Central Railway for an EPC contract worth Rs 295 crore.
Orient Technologies: The company appointed Shrihari Bhat as CEO effective Jan. 1, 2025.
Indiamart Intermesh: The company arm Tradezeal Online entered a pact to disinvest a 26% stake in Shipway Technology.
Indian Oil: The company reported fire in a benzene storage tank (1000 KL capacity) at Gujarat Refinery. The cause of the fire is yet to be ascertained. Gujarat refinery’s emergency response team is actively tackling fire. Gujarat refinery operations are normal, the company said on Monday.
Windsor Machines: The company acquired Global CNC for Rs 343 crore.
Listing Day
Sagility India: The company's shares will debut on the stock exchanges on Tuesday at an issue price of Rs 30. The Rs 2,106-crore IPO has been subscribed to 3.2 times on the final day. The bids were led by retail investors (4.16 times), reserved for employees (3.75 times), qualified institutional investors (3.52 times), and non-institutional investors (1.93 times).
IPO Offering
Niva Bupa Health Insurance: The public issue was subscribed to 1.8 times on day 3. The bids were led by retail investors (2.73 times), qualified institutional investors (2.06 times), and non-institutional investors (0.68 times).
Bulk Deals
Tuticorin Alkali Chemicals and Fertilizers: Walery Security Management bought 9.75 lakh shares (0.8%) at Rs 102.4 apiece.
Insider Trades
Poonawalla Fincorp: Promoter Rising Sun Holdings bought 1.35 lakh shares on Nov 8.
Pledge share details
Lloyds Metals and Energy: Promoter Thriveni Earthmovers created a pledge 16.96 lakh shares on Nov. 8.
Trading Tweaks
Ex/Dividend: D-Link, IGL, IRFC.
Price band changes from 20% to 10%: ITI.
Price band changes from 5% to 20%: Nalwa Sons Investments.
Moved out short term ASM: JSW Holdings.
Moved in short Term ASM: ITI, KRN Heat Exchanger and Refrigeration.
F&O Cues
Nifty November futures are down by 0.35% to 24,226 at a premium of 85 points.
Nifty November futures open interest down by 0.35%.
Nifty Bank November futures up by 0.52% to 52,082 at a premium of 206 points.
Nifty Bank November futures open interest down 2.3%.
Nifty Options Nov. 14 Expiry: Maximum call open interest at 26,900 and maximum put open interest at 22,250.
Bank Nifty Options Nov. 13 Expiry: Maximum call open interest at 53,000 and maximum put open interest at 49,000.
Securities in ban period: Aarti Industries, Aditya Birla Fashion Retail, Granules, Hindustan Copper, Manappuram.
Money Market
The Indian rupee closed flat against the US dollar on Monday, ending at 84.388.
Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, commented on the rupee’s performance, saying, “The dollar retained its strength, buoyed by the Trump presidency and anticipation of U.S. CPI data.”
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