Asian indices were mostly higher in the early trade even as US markets fell. Investors will look forward to the South central bank decision. At 7:06 a.m., Nikkei was trading 0.6% higher and South Korea's Kospi rose 0.4%. However, Australia's ASX 200 fell 0.1%.
In the US, indices ended lower after fresh inflation data raised concerns that inflation wasn't cooling. S&P 500 was down 0.21% to close at 5,780.05, Dow Jones declined 0.14% to close at 42,454.12, and Nasdaq Composite fell 0.05% to 18,282.05.
GIFT Nifty was at 25,091.00, up by 28.5 points as of 07:11 a.m.
Brent crude was trading 0.4% higher at $76.88 a barrel. Gold was also higher by 0.73% at $2,626.69 an ounce. Gold was up 0.5% at $2,651.80.
India's benchmark equity indices closed with little gains on Thursday as the markets looked forward to the earnings of the country's largest IT services firm, Tata Consultancy Services Ltd., to be released later in the day. Inflation data from the US after-market hours will also be a key monitorable.
The Nifty ended 0.07%, or 16.50 points up at 24,998.45 and Sensex advanced 0.18%, or 144.3 points, to close at 81,611.4.
Overseas investors, commonly known as foreign portfolio investors, or FPIs, remained net sellers of Indian equities for nine consecutive sessions on Thursday.
Domestic institutional investors (DIIs) bought stocks worth Rs 3,878.33 crore and according to provisional data from the National Stock Exchange, FPIs offloaded stocks worth Rs 4,926.61 crore.
The Indian rupee weakened by 2 paise to close at 83.98 against the US dollar.
Stocks To Watch
Oberoi Realty: The company has approved to raise Rs 6,000 crore via shares or other instruments.
Mazagon Dock Shipbuilders: The company has received an order worth Rs 122 crore from Maharashtra State Power Generation Co. to supply, install and commission AI-based conditions of an order comprehensive infrasecure project.
Endurance Technologies: The company approved Rs 300 crore capex for the alloy wheels greenfield project in Aurangabad. The plant will have a capacity of 1.8 lakh 2-wheeler alloy wheels per month. The start of production is envisaged in the second quarter of the financial year 2025-26.
Bandhan Bank: The RBI has approved the appointment of Partha Sengupta as managing director and chief executive officer for a three-year term, effective Nov. 10.
Exide Industries: The company has made further investment of Rs 99 crore in its wholly owned subsidiary, Exide Energy Solutions. The total investment in EESL now stands at Rs 2,852 crore.
Ugro Capital: The company’s assets under management have crossed the Rs 10,000 crore milestone in the second quarter of FY25.
Indian Renewable Energy Development Agency: The company has received approval from DIPAM and the Ministry of Renewable Energy to establish a retail business unit.
Vishnu Prakash R Punglia: The company has received an order worth Rs 161 crore from Northwestern Railway, Jaipur.
SG Finserve: The company has received a new certificate of registration as a non-banking financial company—investment and credit company (Type II). This certification authorises the company to conduct business and operations as an investment and credit company (Type II) in accordance with the applicable RBI regulations.
Utkarsh Small Finance Bank: The company to acquire a 7% stake in Saksham Gram Credit for Rs 5 crore.
Infosys: The company has announced a strategic collaboration Zooplus to enhance its service capability and scalability.
UNO Minda: The company’s JV Toyoda Gosei Uno Minda has started its commercial operations at its Rajasthan unit.
Earnings Post Market Hours
TCS Q2 FY25 (Consolidated, QOQ)
Revenue up 2.62% at Rs 64,259 crore versus Rs 62,613 crore (Bloomberg estimates Rs 64,186 crore).
EBIT up 0.14% at Rs 15,465 crore versus Rs 15,442 crore (Bloomberg estimates Rs 15,995 crore).
EBIT margin down 59 bps at 24.06% versus 24.66% (Bloomberg estimates 24.9%).
Net profit up 5.05% at Rs 11,955 crore versus Rs 11,380 crore (Bloomberg estimates Rs 12,453 crore).
Dividend declared of Rs 10 per share.
IREDA Q2 FY25 (YoY)
Revenue up 38.48% at Rs 1,630 crore versus Rs 1,177 crore.
Net profit up 36.14% at Rs 388 crore versus Rs 285 crore (Bloomberg estimates Rs 410 crore).
Net interest income up 52% at Rs 547 crore versus Rs 360 crore.
GNPA at 2.19% vs 2.19% (QoQ).
NNPA at 1.04% vs 0.95% (QoQ).
Tata Elxsi Q2 FY25 (Consolidated, QoQ)
Revenue up 3.13% at Rs 955 crore versus Rs 926 crore (Bloomberg estimate Rs 947 crore).
EBIT up 5.75% at Rs 239 crore versus Rs 226 crore (Bloomberg estimate Rs 245 crore).
EBIT margin up 62 bps at 25.02% versus 24.4% (Bloomberg estimate 25.9%).
Net profit up 24.45% at Rs 229 crore versus Rs 184 crore (Bloomberg estimate Rs 200 crore).
Anant Rathi Q2 FY25 (Consolidated, YoY)
Revenue up 32.24% at Rs 242 crore versus Rs 183 crore (Bloomberg estimate Rs 247 crore).
Net profit up 32.23% at Rs 76 crore versus Rs 58 crore (Bloomberg estimate Rs 76 crore).
IPO Offerings:
Garuda Construction and Engineering: The public issue was subscribed to 7.55 times on the final day. There bids were led by non-institutional investors (9.03 times), retail investors (10.81 times), and qualified institutional investors (1.24 times).
Bulk Deals
Ideaforge Technologies: Citigroup Global Markets Mauritius bought 6.65 lakh shares (1.55%) at Rs 656 apiece, while Goldman Sachs Funds - Goldman Sachs India Equity Portfolio sold 6.49 lakh shares (1.51%) at Rs 657.67 apiece.
Block Deals
Sanofi Consumer Healthcare India: HOECHST GMBH sold 1.39 crore shares (60.37%) at 4,982 apiece, while Opella Healthcare Participations B V bought 1.39 crore shares (60.37%) at Rs 4,982 apiece.
Trading Tweaks
Band Price Change from 10% to 5%: Jyoti Structures.
Price Band changes from 20% to 5%: Hercules Hoists.
Price Band changes from 20% to 10%: Maan Aluminium.
Ex/record dividend: Coforge
Ex/record demerger: Hercules Hoist.
Moved out short term ASM: Globus Spirits, Rama Steel Tubes, Sequent Scientific.
F&O Cues
Nifty October futures up by 0.17% to 25,118 at a premium 120 points.
Nifty October futures open interest up by 1.2%.
Nifty Bank October futures up by 0.81% to 51,780 at a premium of 250 points.
Nifty Bank October futures open interest down 3.45%.
Nifty Options Oct 17 Expiry: Maximum call open interest at 26,000 and maximum put open interest at 25,000.
Bank Nifty Options Oct 16 Expiry: Maximum call open interest at 62,000 and maximum put open interest at 51,000.
Securities in ban period: Bandhan Bank, Birla Soft, Chambal Fertilizers, GNFC, Granules, Hindustan Copper, IDFC First Bank, Manappuram, PNB, RBL Bank, Sail, Tata Chemical.
Also Read: Your Guide To FII Positions In Oct. 11 Trade
Money Market Update
The Indian rupee closed weaker on Thursday as the dollar index cooled, with investors awaiting key US CPI inflation data.
The currency depreciated by 2 paise to close at 83.98 against the US dollar on Thursday, up from its Wednesday close of 83.96, according to Bloomberg.
Research Reports
TCS Q2 Results Review - Miss On Both Top, Bottom Line, Commentary Remain Stable: Dolat Capital
TCS Q2 Results Review - BSNL Ramp-Up Continues To Fuel Growth: Motilal Oswal
FMCG Q2 Results Preview - Volume Growth Improving Off A Low Base: Nirmal Bang
Consumer Discretionary Q2 Results Preview - Demand Environment Muted; All Eyes On H2: Nirmal Bang
FMCG, Retail Q2 Results Preview - Rural Recovery To Take Centre Stage: Axis Securities
Oil, Gas Q2 Results Preview - Marginal Uptick QoQ; YoY Trends Remain Weak: ICICI Securities
Pharma, Healthcare Q2 Results Preview - Steady; Revlimid To Normalise: HDFC Securities
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