Most markets in Asia–Pacific rose in early trade on Monday before China's loan prime rate announcement and Japan's inflation data. The Kospi and S&P ASX 200 were trading 2.43% and 0.02% higher, respectively. Bucking the trend, the Nikkei 225 was trading 0.43% down as of 7:15 a.m.
On Friday, the Dow Jones Industrial Average ended 0.70% lower at 43,444.99. The S&P 500 ended 1.32% lower at 5,870.62. The Nasdaq Composite ended at 18,680.12, down 2.24%.
Brent crude was 0.28% higher at $71.24 a barrel as of 7:00 a.m. Gold spot was up 1.02% to $2,589.32 an ounce.
The GIFT Nifty was trading 0.22%, or 52 points higher at 23,489.00 as of 7:17 a.m.
Stock markets in India were closed on Friday, Nov. 15, on account of Guru Nanak Jayanti.
The NSE Nifty 50 and the BSE Sensex ended lower for the second consecutive week in a row on Thursday as earnings from India Inc. continued to weigh on investors' sentiment.
The Nifty 50 closed lower for the sixth session in a row and recorded the worst declining streak since Oct. 7. It ended 26.35 points, or 0.11%, lower at 23,532.70. The Sensex closed 110.64 points, or 0.14%, down at 77,580.31.
Overseas investors remained net sellers of Indian equities for the 34th consecutive session on Thursday, while domestic institutional investors stayed net buyers.
Foreign portfolio investors sold stocks worth Rs 1,849.87 crore, while DIIs mopped up stocks worth approximately Rs 2,481.81 crore, according to provisional data shared by the National Stock Exchange.
Earnings Post Market Hours
Glenmark Pharmaceuticals Q2 FY25 (Consolidated, YoY)
Revenue up 7.07% at Rs 3,434 crore versus Rs 3,207 crore (Estimate Rs 3,492 crore).
Ebitda up 30.58% at Rs 602 crore versus Rs 461 crore (Estimate Rs 654 crore).
Ebitda margin up 315 bps at 17.53% versus 14.37% (Estimate 18.7%).
Net profit at Rs 354 crore versus loss of Rs 61 crore (Estimate Rs 352 crore).
Grasim Industries Q2 FY25 (Consolidated, YoY)
Revenue up 11.05% at Rs 33,563 crore versus Rs 30,221 crore.
Ebitda down 0.57% at Rs 6,018 crore versus Rs 6,053 crore.
Ebitda margin down 209 bps at 17.93% versus 20.02%.
Net profit down 45.65% at Rs 1100 crore versus Rs 2024 crore.
Hero MotoCorp Q2 FY25 (Standalone, YoY)
Revenue up 10.8% at Rs 10,463 crore versus Rs 9,445 crore (Estimate Rs 10,213 crore).
Ebitda up 14.1% at Rs 1,516 crore versus Rs 1,328 crore (Estimate Rs 1,482 crore).
Ebitda margin at 14.5% versus 14.1% (Estimate 14.5%).
Net profit up 14.2% at Rs 1,204 crore versus Rs 1,054 crore (Estimate Rs 1,152 crore).
Crompton Greaves Consumer Electricals Q2 FY25 (Consolidated, YoY)
Revenue up 6.39% at Rs 1,896 crore versus Rs 1,782 crore (Estimate Rs 1,917 crore).
Ebitda up 16% at Rs 203 crore versus Rs 175 crore (Estimate Rs 195 crore).
Ebitda margin up 88 bps at 10.7% versus 9.82% (Estimate 10.2%).
Net profit up 26.73% at Rs 128 crore versus Rs 101 crore (Estimate Rs 125 crore).
Muthoot Finance Q2 FY25 (Consolidated, YoY)
Total income up 36.5% at Rs 4,957 crore versus Rs 3,632 crore.
Net profit up 20.6% at Rs 1,321 crore versus Rs 1,095 crore.
Approved the additional infusion of Rs 500 crore in arm Muthoot Money.
Honasa Consumer Q2 FY25 (Consolidated, YoY)
Revenue down 6.86% at Rs 462 crore versus Rs 496 crore (Estimate Rs 510 crore).
Ebitda loss at Rs 7 crore versus profit of Rs 1 crore (Estimate Rs 3.3 crore).
Net loss at Rs 18.5 crore versus profit of Rs 29 crore (Estimate Rs 6 crore).
Avanti Feeds Q2 FY25 (Consolidated, YoY)
Revenue up 6.02% at Rs 1,355 crore versus Rs 1,278 crore.
Ebitda up 45.54% at Rs 135.5 crore versus Rs 93 crore.
Ebitda margin up 271 bps at 10% versus 7.28%.
Net profit up 45.78% at Rs 121 crore versus Rs 83 crore.
Lemon Tree Hotels Q2 FY25 (Consolidated, YoY)
Revenue up 24.01% at Rs 284 crore versus Rs 229 crore.
Ebitda up 25% at Rs 130 crore versus Rs 104 crore.
Ebitda margin up 35 bps at 45.77% versus 45.41%.
Net profit up 34.61% at Rs 35 crore versus Rs 26 crore.
Mahanagar Telephone Nigam Q2 FY25 (Consolidated, QoQ)
Revenue down 5.2% at Rs 174 crore versus Rs 184 crore.
Ebitda loss of Rs 119 crore versus Ebitda loss of Rs 111 crore.
Net loss of Rs 890 crore versus a loss of Rs 773 crore.
Dehlivery Q2 FY25 (Consolidated, QoQ)
Revenue up 0.82% at Rs 2190 crore versus Rs 2172 crore.
Ebitda down 40.62% at Rs 57 crore versus Rs 96 crore.
Ebitda margin down 181 bps at 2.6% versus 4.41%.
Net profit down 81.48% at Rs 10 crore versus Rs 54 crore.
Ahluwalia Contracts Q2 (Consolidated, YoY)
Revenue up 12.19% at Rs 1,011 crore versus Rs 902 crore.
Ebitda down 18.16% at Rs 73 crore versus Rs 90 crore.
Ebitda margin down 269 bps at 7.26% versus 9.95%.
Net profit down 29.76% at Rs 39 crore versus Rs 55 crore.
Swan Energy Q2 FY25 (Consolidated, YoY)
Revenue down 15.62% at Rs 1,032 crore versus Rs 1,223 crore.
Ebitda down 53.12% at Rs 120 crore versus Rs 256 crore.
Ebitda margin down 930 bps at 11.62% versus 20.93%.
Net profit down 59.63% at Rs 67 crore versus Rs 166 crore.
Ratnamani Metals & Tubes Q2 FY25 (Consolidated, YoY)
Revenue down 14.15% at Rs 971 crore versus Rs 1131 crore.
Ebitda down 37.14% at Rs 154 crore versus Rs 245 crore.
Ebitda margin down 580 bps at 15.85% versus 21.66%.
Net profit down 39.63% at Rs 99 crore versus Rs 164 crore.
Ashapura Minechem Q2 (Consolidated, YoY)
Revenue up 9% at Rs 604 crore versus Rs 554 crore.
Ebitda at Rs 64.1 crore versus Rs 30.4 crore.
Ebitda margin at 10.6% versus 5.5%.
Net profit down 26.7% at Rs 42.6 crore versus Rs 58.2 crore.
Balaji Amines Q2 (Consolidated, YoY)
Revenue down 9% at Rs 347 crore versus Rs 381 crore.
Ebitda up 12.8% at Rs 60.7 crore versus Rs 53.8 crore.
Ebitda margin at 17.5% versus 14.1%.
Net profit up 14% at Rs 41.5 crore versus Rs 36.4 crore.
Samman Capital Q2 (Consolidated, YoY)
Total income up 8.2% at Rs 2,425 crore versus Rs 2,242 crore.
Net loss of Rs 2,761 crore versus a profit of Rs 298 crore.
Bombay Burmah Q2 (Consolidated, YoY)
Revenue up 5.2% at Rs 4,761 crore versus Rs 4,524 crore.
Ebitda down 15.7% at Rs 724 crore versus Rs 859 crore.
Ebitda margin at 15.2% versus 19%.
Net profit up 25.3% at Rs 516 crore versus Rs 412 crore.
Stocks To Watch
Reliance Power: The company received a show-cause notice from SECI for allegedly submitting a fake bank guarantee. According to SECI, a subsidiary of the company provided a bank guarantee purportedly issued by the Manila branch of First Rand Bank. However, FirstRand Bank India has confirmed that no such branch exists. SECI stated that this conduct suggests a malafide intent to manipulate the tender's outcome. The show-cause notice demands an explanation from the company as to why criminal proceedings should not be initiated against the company.
Reliance Industries: The company and Disney completed a transaction to form a joint venture for entertainment brands in India. The company invested Rs 11,500 crore in growth capital in the JV. The JV will be spearheaded by three CEOs. The transaction values of the JV are at Rs 70,352 crore on a post-money basis. The JV is controlled by RIL, as it owns a 16.34% stake; 46.82% of the stake is held by Viacom18 and 36.84% by Disney.
Gail: The company signed a 10-year pact with ADNOC Gas for delivery of up to 0.52 MMTPA LNG.
Prestige Estate: The company acquired 22,135 square meters of land worth Rs 292 crore in Mumbai for residential development.
Expleo Solutions: The board approved the incorporation of a new wholly owned subsidiary in Saudi Arabia.
SEPC: The board approved raising up to Rs 350 crore through a rights issue.
ACME Solar: Udaipur DGGI initiated a search at the company’s head office in Gurugram, Haryana.
KPI Green: The board recommended the issuance of 1 bonus share for every 2 shares held.
Mankind Pharma: The company has pledged a 39.68% stake of its arm Bharat Serums in favor of Catalyst Trusteeship.
Tata Power: The company acquired a 100% stake in ERES-XXXIX Power Transmission for Rs 18.56 crore.
VIP Clothing: Statutory auditors M S K A & Associates resign due to inability to agree on proposed revision in fees.
Ujjivan Small Finance Bank: The board has approved the sale of NPA & written-off loans worth Rs 270 crore on which the bank carries an overall provision of 85.6%.
Indraprastha Gas: GAIL reduces domestic gas allocation to the company by 20%, effective Nov. 16.
Mahanagar Gas: Administrative price mechanisms gas allocation reduced by 18%, effective Nov. 16.
Adani Total Gas: GAIL reduces domestic gas allocation to the company by 13%, effective Nov. 16.
Sterlite Technologies: ICRA downgrades rating for long-term, short-term, and 25.15 million euros bank limits to ICRA AA- (Stable) from ICRA AA (Negative).
HCL Technologies: The company has rolled out AI labs with ServiceNow on the Noida campus.
Cyient: The company has expanded its pact with Allegro MicroSystems with the inauguration of a Center of Excellence in Hyderabad.
Reliance Communications: Canara Bank classifies the company's accounts and of arm Reliance Telecom as 'fraud.'
Easy Trip Planners: The board approved an agreement to acquire a 49% stake in Planet Education for Rs 39 crore. It also approved the acquisition of a 50% stake in Jeewani Hospitality for Rs 100 crore.
Hindustan Zinc: The company gets a composite license for a gold mining block in Rajasthan through state government auctions.
Suraj Estate Developers: Collections up 89% year-on-year in the second quarter of this fiscal on increased sales and collection from the commercial project CCIL, while profit rises 88%. The company has set Rs 850 crore as the pre-sales guidance for financial year 2025.
IPO Offering
Zinka Logistics Solution: The public issue was subscribed to 0.32 times on day 2. The bids were led by qualified institutional investors (0.26 times), retail investors (0.9 times), and non-institutional investors (0.04 times).
Block Deals
PNB Housing: BNP Paribas Financial Markets bought 1.4 lakh shares (0.05%) at Rs 914.75 apiece; Goldman Sachs (Singapore) Pte.- Odi sold 1.4 lakh shares (0.05%) at Rs 914.75 apiece.
Ramkrishna Forgings: Societe Generale - Odi sold 2 lakh shares (0.11%) at Rs 922.8 apiece, while Think India Opportunities Master Fund LP bought 2 lakh shares (0.11%) at Rs 922.8 apiece.
Pledge Share Details
Sterling and Wilson Renewable Energy: Promoter Khurshed Yazdi Daruvala created a pledge for 43,662 shares, and Promoter Kainaz Khurshed Daruvala created a pledge for 6.07 lakh shares on Nov. 11.
Wardwizard Innovations and Mobility: Promoter Yatin Sanjay Gupte created a pledge for 15 lakh shares on Nov 12.
Trading Tweaks
Price band changes from 10% to 5%: JSW Holdings.
Price band changes from 5% to 20%: Ratnaveer Precision Engineering, VIP Clothing.
Ex/record dividend: Manappuram Finance, Emami, Sundram Fasteners.
Moved out short-term ASM: Oriana Power, Orient Technologies.
F&O Cues
Nifty November futures down by 0.16% to 23,601 at a premium of 69 points.
Nifty November futures open interest up by 2.7%.
Nifty Options Nov. 14 Expiry: Maximum call open interest at 26,500 and maximum put open interest at 22,500.
Securities in ban period: Aarti Industries, Aditya Birla Fashion Retail, GNFC, Granules, Hindustan Copper.
Money Market
The Indian rupee closed flat at 84.39 against the US dollar on Thursday. It had opened at a record low after falling by 3 paise at 84.41. It had closed at 84.39 on Wednesday.
The opening marked the rupee's weakest level amid continued dollar strength and high yields.
Disclaimer: NDTV Profit is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
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