Markets in Asia–Pacific declined in Thursday morning, tracking overnight losses on the Wall Street. Market participants are awaiting the outcome of the Bank of Japan's policy decision, due later today.
The Nikkei 225 was trading 267.99 points or 0.68% down at 39,009.40, KOSPI was trading 34.37 points or 1.33% down at 2,559.42 as of 06:31 a.m.
Stocks declined on Wall Street after data showed that US economy expanded at a robust pace, which propelled the traders to trim their bets on rate cuts by the US Federal Reserve. Further, technology companies' stock weighed on US stock after disappointing numbers from mega companies.
The Dow Jones Industrial Average and S&P 500 ended 0.22% and 0.33% down, respectively. The Nasdaq Composite ended 0.56% down on Wednesday.
The brent crude was trading 0.48% higher at $72.90 a barrel. The Bloomberg spot Gold was trading 0.08% higher at $2,789.81 an ounce.
The NSE Nifty 50 and BSE Sensex resumed decline after a two–day rally, amid a jump in the market volatility as Infosys Ltd. and ICICI Bank Ltd. share prices declined. The NSE India Volatility index ended at the highest level since Aug. 13.
The Nifty 50 ended 126 points, or 0.51% lower at 24,340.85, and the Sensex ended 426.85 points or 0.53% down at 79,942.18.
Overseas investors remained net sellers of Indian equities for the 23rd consecutive session on Wednesday and offloaded stocks worth a total of Rs 1.19 lakh crore during the period, while domestic institutional investors stayed net buyers for the 27th straight session.
Foreign portfolio investors offloaded stocks with an approximate value of Rs 4,613.6 crore while the DIIs bought stocks worth Rs 4,518.3 crore.
The Indian currency closed flat against the US dollar at 84.0800 on Wednesday.
Earnings In Focus
BF Utilities, Narayana Hrudayalaya, Tata Investment Corp.
Earnings Post Market Hours
Biocon Q2 FY25 (Consolidated, YoY)
Revenue up 3.69% at Rs 3590 crore versus Rs 3462 crore (Bloomberg estimate Rs 3,623 crore)
Ebitda down 7.54% at Rs 686 crore versus Rs 742 crore (Bloomberg estimate Rs 741 crore)
Ebitda margin down 232 bps at 19.1% versus 21.43% (Bloomberg estimate 20.5%)
Net profit down 84.3% at Rs 27 crore versus Rs 172 crore (Bloomberg estimate Rs 24 crore)
Larsen & Toubro Q2 FY25 (Consolidated, YoY)
Revenue up 20.63% at Rs 61554 crore versus Rs 51024 crore (Bloomberg estimate Rs 57,622 crore)
Ebitda up 12.94% at Rs 6362 crore versus Rs 5633 crore (Bloomberg estimate Rs 6142 crore)
Ebitda margin down 70 bps at 10.33% versus 11.03% (Bloomberg estimate 10.7%)
Net profit up 6.69% at Rs 4113 crore versus Rs 3855 crore (Bloomberg estimate Rs 3,205 crore)
Tata Power Q2 FY25 (Consolidated, YoY)
Revenue down 0.26% at Rs 15698 crore versus Rs 15738 crore (Bloomberg estimate Rs 16,957 crore)
Ebitda up 21.19% at Rs 3746 crore versus Rs 3091 crore (Bloomberg estimate Rs 3,117 crore)
Ebitda margin up 422 bps at 23.86% versus 19.64% (Bloomberg estimate 18.4%)
Net profit up 7.47% at Rs 1093 crore versus Rs 1017 crore (Bloomberg estimate Rs 1052 crore)
IRB Infrastructure Developers Q2 FY25 (Consolidated, YoY)
Revenue down 9.12% at Rs 1586 crore versus Rs 1745 crore
Ebitda margin down 3.4% at Rs 767 crore versus Rs 794 crore
Ebitda margin up 285 bps at 48.36% versus 45.5%
Net profit up 5.26% at Rs 100 crore versus Rs 95 crore
TCI Express Q2 FY25 (Consolidated, YoY)
Revenue down 2.5% at Rs 312 crore versus Rs 320 crore (Bloomberg estimate Rs 328 crore)
Ebitda margin down 25.84% at Rs 37.3 crore versus Rs 50.3 crore (Bloomberg estimate Rs 43 crore)
Ebitda margin down 376 bps at 11.95% versus 15.71% (Bloomberg estimate 13.1%)
Net profit down 30.55% at Rs 25 crore versus Rs 36 crore (Bloomberg estimate Rs 31 crore)
DCM Shriram Q2 FY25 (Consolidated, YoY)
Revenue up 9.09% at Rs 2940 crore versus Rs 2695 crore
Ebitda up 62.37% at Rs 164 crore versus Rs 101 crore
Ebitda margin up 183 bps at 5.57% versus 3.74%
Net profit up 96.87% at Rs 63 crore versus Rs 32 crore
Approved Rs 310 crore capex proposal for 100 TPD aluminium chloride facility and 225 TPD calcium chloride facility.
Automotive Axles Q2 FY25 (Consolidated, YoY)
Revenue down 15.24% at Rs 495 crore versus Rs 584 crore (Bloomberg estimate Rs 497 crore)
Ebitda down 20.91% at Rs 51.8 crore versus Rs 65.5 crore (Bloomberg estimate Rs 49 crore)
Ebitda margin down 75 bps at 10.46% versus 11.21% (Bloomberg estimate 9.8%)
Net profit down 20% at Rs 36 crore versus Rs 45 crore (Bloomberg estimate Rs 34 crore)
Protean eGov Technologies (Consolidated, QoQ)
Revenue up 11.8% at Rs 220 crore versus Rs 197 crore (Bloomberg estimate Rs 231 crore)
EBIT at Rs 24.5 crore versus Rs 8.3 crore
EBIT margin at 11.1% versus 4.2%
Net profit down 33% at Rs 28 crore versus Rs 21.09 crore (Bloomberg estimate Rs 29 crore)
Prudent Corporate Advisory Services Q2 FY25 (Standalone, YoY)
Total income up 53.9% at Rs 258 crore versus Rs 167 crore.
Net profit up 72.9% at Rs 42.8 crore versus Rs 24.8 crore.
The New India Assurance Co (Consolidated, YoY)
Net premium earned up 3.9% at Rs 8,567 crore versus Rs 8,245 crore
Net profit at Rs 73.6 crore versus loss of Rs 195 crore
Electrosteel Castings Q2 FY25 (Consolidated, YoY)
Revenue down 4.75% at Rs 1828 crore versus Rs 1919 crore (Bloomberg estimate Rs 1,882 crore)
Ebitda margin down 10.36% at Rs 268 crore versus Rs 299 crore (Bloomberg estimate 387 crore)
Ebitda margin down 92 bps at 14.66% versus 15.58% (Bloomberg estimate 20.6%)
Net profit down 11.42% at Rs 155 crore versus Rs 175 crore (Bloomberg estimate Rs 254 crore)
Stocks To Watch
Rail Vikas Nigam Ltd.: The company has received letter of acceptance worth Rs 284 crore for construction work from east coast railway.
Adani Green: The company’s unit has entered into power purchase agreements with Maharashtra State Electricity Distribution Co. for supply of 5 GW solar power.
Ujjivan Small Finance Bank: S Balakrishna Kamath to take charge as chief financial officer of the bank effective Dec. 5.
Sonata Software: The company has signed pact with a Fortune 50 American multinational technology conglomerate for global retail operations.
Biocon: The pharma company's drug substance facility in Bengaluru has been classified as voluntary action indicated by the US FDA.
Zydus Wellness: The company to acquire 100% stake in Naturell (India) for Rs 390 crore in a strategic leap into healthy consumer snacking space.
Aditya Birla Fashion: The company has received no objection from bourses on scheme of arrangement.
Tata Power: The company filed insurance claim worth Rs 221 crore for damages incurred due to dire incident in September and received Rs 50 crore advance, final settlement to be determined on completion of assessment.
Jupiter Wagons: The company’s arm Jupiter Electric Mobility acquired Log9’s Railway and electric truck battery divisions.
Allcargo Terminals: The company has executed pact with Aseem Infrastructure Finance and Axis Trustee Services for term loan worth Rs 140 crore.
Bulk Deals
Torrent Pharma: Torrent Investments sold 99.4 lakh shares (2.92%) at Rs 3,104 apiece.
Godavari Biorefineries: Capri Global Capital sold 3.74 lakh shares (0.73%) at Rs 327.98 apiece, while Madhuri Madhusudan Kela bought 5 lakh shares (0.97%) at Rs 335.66 apiece.
Insider Trade
Poonawalla Fincorp: Promoter Rising Sun Holdings bought 7.57 lakh shares on Oct. 29.
Trading Tweaks
Ex/record dividend: Dodla Dairy, Godrej Consumer Products, RR Kabel, Birlasoft, Tech Mahindra, Balkrishna Industries, TCI Express, Supreme Petrochem, NTPC, Bhansali Engineering.
Ex/record AGM: ITI.
Moved out short term ASM: Kalyani Investment Co.
Moved in short term ASM: Syrma SGS Technology, CARE Ratings, Deepak Fertilizers and Petrochemicals Corp., Tara Chand InfraLogistic Solutions.
F&O Cues
Nifty October futures down by 0.45% to 24,371 at a premium 31 points.
Nifty October futures open interest down by 27.2%.
Nifty Bank November futures down by 0.64% to 52,260 at a of 453 points.
Nifty Bank November futures open interest up 43.8%.
Nifty Options Oct 31 Expiry: Maximum call open interest at 25,000 and maximum put open interest at 24,000.
Bank Nifty Options Nov 6 Expiry: Maximum call open Interest at 60,500 and maximum put open interest at 55,700.
Securities in ban period: IDFC First Bank, India Mart Intermesh, PNB, RBL Bank.
Money Market
The Indian rupee closed little changed against the US dollar on Wednesday, aided by intervention by the Reserve Bank of India amid continued overseas fund outflows from domestic stocks.
The local currency ended trading at Rs 84.086, compared to the previous day's close of Rs 84.075, according to Bloomberg data.
Also Read: Rupee Ends Flat Against US Dollar
Disclaimer: NDTV is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
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