Stock Market Today: All You Need To Know Going Into Trade On Oct. 16

Australian stocks slipped and Japanese and South Korean markets also declined, after U.S. shares fell and bonds surged on Friday as traders sought out safety amid the looming prospect of a ground offensive in Gaza.

Big tech sold off on Friday in New York, with the Nasdaq 100 down over 1%. Boeing Co. sank after saying it’s investigating quality issues affecting the 737 Max aircraft. JPMorgan Chase & Co. and Wells Fargo & Co. gained on solid earnings.

Meanwhile, the yield on the 10-year U.S. bond was trading at 4.64% and Bitcoin was above 27,000-level. Brent crude was trading beyond $90 a barrel, whereas WTI Crude was above $87-mark.

At 5:50 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was down 43 points or 0.22% at 19,687.5.

India's benchmark stock indices closed lower on Friday, dragged by muted earnings from information technology major Infosys Ltd. However, on a weekly basis, the indices advanced for the second straight week on Friday. The Nifty ended below the 19,800 level, while the Sensex closed below the 66,300 mark. Banks, I.T., media and metal sectors fell, whereas real estate and pharmaceutical sectors rose.

Overseas investors turned net buyers of Indian equities on Friday. Foreign portfolio investors mopped up stocks worth Rs 317.01 crore, and domestic institutional investors turned net sellers and offloaded equities worth Rs 102.88 crore, the NSE data showed.

The Indian rupee closed flat at 83.26 against the U.S. dollar on Friday.

• Adani Enterprises: The Office of Regional Director-Southeast Region, Hyderabad, Ministry of Corporate Affairs, initiates investigation into accounts of Mumbai International Airport and Navi Mumbai International Airport. The documents sought pertain to the period from FY18 to FY22, prior to their acquisition by the company.

• Tata Motors: The company will sell a 9% stake in Tata Technologies to TPG Rise Climate for Rs 1,467 crore and another 0.9% stake in TTL to Ratan Tata Endowment Foundation for Rs 146.7 crore.

• Mahindra & Mahindra: September sales rose 18.14% year on year to 73,185 units, while production increased by 21.88% to 79,410 units. The Income Tax Department has filed an appeal in Bombay High Court against relief previously granted to the company over a Rs 432 crore tax dispute.

• Laurus Labs: Associate ImmunoACT received marketing authorization approval for India’s first CAR-T cell therapy, NexCAR19, for cancer treatment therapy from the Central Drugs Standard Control Organisation.

• NHPC: The company expects Rs 788 crore worth of damages due to flash floods impacting its 510 MW Teesta-V Power Station in Sikkim. The damages are fully insured, and the company said it will lodge a formal claim for the damages.

• L&T Finance Holdings: NCLT has approved the amalgamation of L&T Finance, L&T Infra Credit, and L&T Mutual Fund Trustee with L&T Finance Holdings on Oct. 13.

• Infosys: The New York State Taxation Department has imposed a penalty of $15,076 for underpayment of advance tax in FY22.

• Bajaj Electricals: The company bagged a service contract worth Rs 564 crore from Power Grid Corp. for 400 kV transmission lines in Andhra Pradesh. The project is to be completed in 21 months.

• HDFC Life: Board approves re-classification of Abrdn (Mauritius Holdings) 2006 from 'Promoter' to 'Public' category. HDFC Bank will be the sole promoter post-reclassification.

• Mankind Pharma: The company has resumed operation at the Sikkim facility as of Oct. 13. It has reported no damage to property due to flash floods when the facility's operations were disrupted.

• Federal Bank: International Finance Corp. acquires an additional 7.26 crore shares (3% stake) via preferential issue, increasing its stake to 7.32%.

• Gati: Total volume in Q2 volume rose 18% year-on-year to 333,000 metric tonnes on account of strong pre-festive ordering. Also, the company's Bengaluru transshipment hub is now online.

• NBCC India: The company has received an order worth Rs 80 crore for the renovation of office buildings from the Visakhapatnam Port Authority.

• ICICI Lombard: The company receives favourable orders from Jaipur's Tax Authority, squashing a penalty of Rs 7.7 crore for FY18, FY19 and FY20.

• Bajaj Healthcare: The company has completed the construction of an alkaloid extraction plant at Vadodara, Gujarat. The plant has a capacity for the extraction of 2500 metric tonnes of poppy straw and 300 metric tonnes of poppy gum per year.

• KIOCL: The company resumes operations at the Mangalore Pellet Plant, where operations were suspended on Sept. 28 due to the non-availability of iron-ore fines and maintenance activities.

• Pidilitte: Subsidiary Pidilite Ventures invests Rs 20 crore in Imagimake, a company into the design and distribution of innovative ranges of educational toys.

• Transformers and Rectifiers: Amarendra Kumar Gupta resigns as CFO w.e.f. Oct. 14, citing personal reasons.

• NLC India: The company incorporates a wholly owned subsidiary, NLC India Green Energy, to undertake future renewable energy projects.

• Indian Bank: The bank has reported loans worth Rs 24.8 crore as fraud.

• J. Kumar Infraprojects, NCC: A SPV, J. Kumar, NCC Pvt., is incorporated for the GMLR twin tunnel project awarded by BMC. NCC to hold a 51% stake and J. Kumar to hold the remaining 49% shares in the company.

• Union Bank of India: RBI imposes a monetary penalty of Rs 1 crore for non-compliance related to loans and advances, statutory and other restrictions.

• RBL Bank: The RBI imposes a monetary penalty of Rs 64 lakh for non-compliance related to prior approval for the acquisition of shares.
  Shipping Corporation of India: The Maharashtra government remits the entire stamp duty chargeable for various items.

• Intellect Design Arena: The company partners with Premiere Bank, Philippines, for bank-wide digital transformation in APAC. The partnership includes Intellect's iKredit360 loan origination system, with the aim of improving the bank's customer experience.

Som Distilleries Q2FY24 (Consolidated, YoY)

• Revenue is up 74.08% at Rs 247.72 crore.

• Ebitda is up 57.68% at Rs 27.20 crore.

• Margin at 10.98% vs. 11.77%

• Net profit is up 80% at Rs 14.85 crore.

Den Networks Q2FY24 (Consolidated, YoY)

• Revenue is down 3.72% at Rs 276.6 crore.

• Ebitda is up 14.32% at Rs 43.1 crore.

• Ebitda Margin at 15.58% vs. 13.12%

• Net profit is down 5.2% at Rs 45.6 crore.

• Note: Deferred tax expense of Rs 18.3 crore (vs. 0.4 crore YoY)

Tata Steel Long Products (Consolidated, YoY)

• Revenue up 57.69% at Rs 2,947.6 crore.

• Ebitda at Rs 93.84 crore vs. Ebitda loss of Rs 255.18 crore

• Net loss of Rs 460.23 crore vs. loss of Rs 661.8 crore

Avenue Supermarts Q2 (Consolidated, YoY)

• Revenue up 18.7% at Rs 12,624.37 crore vs Rs 10,638.33 crore

• Ebitda up 12.7% at Rs 1,004.97 crore vs Rs 892.01 crore

• Margin at 7.96% vs 8.38%

• Net profit down 9.1% at Rs 623.35 crore vs Rs 685.71 crore

Texmaco Rail & Engineering Q2 (Consolidated, YoY)

• Revenue up 66.19% at Rs 805.05 crore vs Rs 484.42 crore

• Net profit up 69.99% at Rs 20.2 crore vs Rs 11.88 crore

• Ebitda up 75.92% at Rs 76.25 crore vs Rs 43.34 crore

• Margins at 9.47% vs 8.95%

GTPL Hathway Q2 (Consolidated, YoY)

• Revenue up 18.97% at Rs 779.19 crore vs Rs 654.98 crore

• Ebitda down 5.34% at Rs 124.32 crore vs Rs 131.33 crore

• Margins at 15.95% vs 20.05%

• Net profit down 24.44% at Rs 35.87 crore vs Rs 47.48 crore

Dalmia Bharat Q2 (Consolidated, YoY)

• Revenue up 5.99% at Rs 3149 crore vs Rs 2971 crore

• Ebitda up 55.41% at Rs 589 crore vs Rs 379 crore

• Margins at 18.70% vs 12.76%

• Net profit up 161.70% at Rs 123 crore vs Rs 47 crore

HDFC Bank, CEAT, Choice International, Cyient DLM, Federal Bank, ICICI Securities, Jai Balaji Industries, Jio Financial Services, Bank of Maharashtra, NELCO, Orient Hotels, Tinplate Company of India, and Yatra Online

• Yatra Online: Akash Agrawal bought 8.2 lakh shares (0.52%) for Rs 152.27 apiece.

• Mangalore Chemicals & Fertilizers: Promoter Zuari Industries created a pledge of 28 lakh shares on Oct. 9.

• Shoppers Stop: To meet analysts and investors on Oct. 19.

• South Indian Bank: To meet analysts and investors on Oct. 20.

• HFCL: To meet analysts and investors on Oct. 20.

• Biocon: To meet analysts and investors on Oct. 17.

• Metro Brands: To meet analysts and investors on Oct. 20.

• Eris Lifesciences: To meet analysts and investors on Oct. 18.

• IIFL Securities: To meet analysts and investors on Oct. 18.

• Zaggle Prepaid Ocean Services: To meet analysts and investors on Oct. 18.

• Samhi Hotels: To meet analysts and investors on Oct. 18 and 19.

• One 97 Communications: To meet analysts and investors on Oct. 21.

• Som Distilleries & Breweries: To meet analysts and investors on Oct. 18.

• RPG Life Sciences: To meet analysts and investors on Oct. 19.

• Laurus Labs: To meet analysts and investors on Oct. 20.

• Crompton Greaves Consumer Electricals: To meet analysts and investors on Nov. 6.

• PTC Industries: To meet analysts and investors on Oct. 18.

• TVS Motor: To meet analysts and investors on Oct. 30.

• JSW Steel: To meet analysts and investors on Oct. 20.

• Yatra Online: To meet analysts and investors on Oct. 16.

• Radico Khaitan: To meet investors on Oct. 18.

• SONA BLW Precision Forgings: To meet analysts and investors on Oct. 25.

• CreditAccess Grameen: To meet analysts and investors on Oct. 20.

• Price Band Revised from 20% to 10%: ITI

• Move Into Short-Term ASM Framework: Oriental Hotels, Manoj Vaibhav Gems N Jewellers.

• Move Out Of Short-Term ASM Framework: Edelweiss Financial Services, GTL Infrastructure

• Nifty October futures fell 0.55% to 19,734.00, at a discount of 17 points.

• Nifty October futures' open interest fell 3.7% to 7,123 shares.

• Nifty Options Oct 19 Expiry: Maximum call open interest at 19,800 and Maximum put open interest at 19,700.

• Nifty Bank October futures fell 0.89% to 44,348.50, at a discount of 60.55 points.

• Nifty Bank October futures' open interest rose 10.55% to 14,697 shares.

• Nifty Bank Options Oct 18 Expiry: Maximum call open interest at 46,000 and Maximum put open interest at 43,000.

• Securities in the ban period: Balarampur Chini Mills, BHEL, Delta Corp., Hindustan Copper, India Bulls Housing Finance, India Cements, Manappuram Finance, L&T Finance, Punjab National Bank, SAIL and Sun TV Network.

The Indian rupee closed flat at 83.26 against the U.S dollar on Friday.

Disclaimer: AMG Media Networks Ltd. (AMNL) currently owns 49% stake in Quintillion Business Media Ltd. (QBML), the owner of BQ Prime Brand. AMNL has entered into an MOU to acquire the balance 51% stake in QBML. Post acquisition, QBML will become a wholly owned subsidiary of AMNL.