Stock Market Today: Nifty, Sensex End At Nearly Two-And-A-Half Month Low As IndusInd Bank Slumps 19%

The S&P 500 futures rose 0.24% to 5,862.75 and the Nasdaq 100 futures rose 0.26% to 20,434.00 as of 3:30 p.m. The Dow Jones Industrial Average rose 0.21% to 42,695.00.

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Benchmark equity indices fell in fourth consecutive week, their longest streak in since five weeks ended August 24. On a daily basis, they continued their downtrend for fifth session with the Nifty 50 and the Sensex recording a fresh since August 14.

The Nifty ended 0.90% or 218.60 points down at 24180.80 and Sensex fell 0.83% or 662.87 points to close at 79402.29. Intraday, Nifty fell as much as 1.3% and Sensex fell as much as 1.2%.

The sentiment was dampened amid quarterly earnings announcements and as FIIs continued to sell. On Thursday, FIIs had net sold shares worth Rs 5,062.4 crore, according to Cogencis.

"Investors should avoid overexposure to high P/E stocks, as earnings miss or lack of positive surprises could trigger further corrections," according to Krishna Appala, Sr. Research Analyst, Capitalmind Research.

He noted that FIIs continue to sell aggressively, offloading ₹97,000 Cr in October alone. "This ongoing selling pressure, combined with earnings downgrades, is cooling off market valuations," he said. "For investors, this may present an opportunity to gradually accumulate high-conviction stocks as the market works through this correction phase.”

On Friday, Nifty's fall was led by the fall in IndusInd Bank's share price, which saw biggest fall since March 2020 after reporting weaker than expected results.

Shares of IndusInd Bank Ltd., Larsen & Toubro Ltd., Mahindra & Mahindra Ltd., Reliance Industries Ltd., and NTPC Ltd. contributed the most to the fall.

Those of ITC Ltd., Axis Bank Ltd., ICICI Bank Ltd., Hindustan Unilever Ltd., and Bharat Electronics Ltd. capped the downside.

Market breadth was skewed in favour of sellers. Around 3,087 stocks declined, 856 stocks advanced, and 78 stocks remained unchanged on BSE.

Broader markets underperformed benchmark indices. The BSE Midcap and Smallcap indices ended 1.48% and 2.44% lower, respectively.

On BSE, 19 sectors declined, and one advanced out of 20. The BSE Services was the worst performing sector, and the BSE FMCG was the top performing sectors.

On a weekly basis, Nifty ended 2.7% lower and Sensex lost 2.2%. All sectoral indices ended lower with Nifty Realty and Nifty Metal losing the most.

-Rupee depreciated by 1 paisa to close at 84.081 against the US dollar.

-It closed at 84.077 on Thursday.

Source: Bloomberg

• Nifty and Sensex fell in fourth consecutive week, their longest streak in since five weeks ended August 24.

• Nifty and Sensex end lower for a fifth consecutive session

• Nifty and Sensex recorded their lowest close since August 14

• Nifty ends 0.90% or 218.60 points down at 24180.80

• Sensex ends 0.83% or 662.87 points lower at 79402.29

• Intraday, Nifty fell as much as 1.3% and Sensex fell as much as 1.2%

• Broader indices underperformed; Nifty Midcap 100 ended 1.9% down and Nifty Smallcap 250 closed 2.28% lower

• All sectoral indices ended lower except Nifty Pharma

• ITC and Axis Bank were top Nifty gainers

• IndusInd Bank and Adani Enterprises fell the most

BPCL's net profit was down 20% year on year at Rs 2,397 crore versus Rs 3,015 crore.

Share of Hindustan Petroleum traded near day's low after the company reported a 77% uptick in standalone profits at Rs 631 crore in the July-September quarter, compared to Rs 356 crore in the previous quarter, according to an exchange filing. Analysts polled by Bloomberg had estimated a Rs 2,008 crore net profit.

Bharat Electronics share price came off their lows and traded 1.55% lower at 1:44 p.m. after 5% intraday. The company reported 15% year-on-year growth in revenue to Rs 4,583 crore and 34% year-on-year growth to Rs 1,091 crore. Ebitda was up 38% to Rs 1,389 crore and Ebitda margin was at 30.3% against 25.2%.

Eris Life has approved acquisition of 30% stake in Levim Lifetech at primary equity investment of Rs 54 crore, an exchange filing said.

As the festive season draws near, particularly with Dhanteras just around the corner, gold and silver prices in India are experiencing notable fluctuations.

TTK Healthcare Q2 Highlights (Consolidated, YoY)

• Revenue up 7% at Rs 199 crore vs Rs 186 crore

• EBITDA down 15% at Rs 8 crore vs Rs 10 crore

• EBITDA margin at 4.1% vs 5.2%

• Net profit up 7.5% at Rs 17 crore vs Rs 16 crore

Easy Trip Planners Equity opened its first franchise store in Bhubaneswar, Odisha, it said in an exchange filing. The stock extended its fall to eleventh consecutive session on Friday and traded 3% lower at 1:27 p.m.

• Revenue up 10% at Rs 209 crore vs Rs 189 crore

• Ebitda up 12% at Rs 64 crore vs Rs 57 crore

• Ebitda margin at 30.5% vs 29.9%

• Net profit up 2.8% at Rs 20.6 crore vs Rs 20 crore

Swiggy opened up logins via international numbers. Users from 27 countries including US, UK, Canada can access deliveries, shopping in India. Feature primarily aimed at Indians abroad living abroad with family and friends in India, the IPO bound–company said in a statement.

Paisalo Digital Ltd. has partnered with Mahindra Last Mile Mobility to address commercial electric vehicle demand. The partnership will likely expand financing options, it said in an exchange filing.

• Revenue at Rs 385 crore vs Rs 149 crore

• Ebitda rose 17.5% at Rs 29.2 crore vs Rs 24.8 crore

• Margin at 7.6% vs 16.6%

• Net profit rose 3.2% at Rs 40.5 crore vs Rs 39.2 crore

Jubilant Pharmova Q2 Earnings (Cons, YoY)

• Net Profit up 65.1% at Rs 103 crore vs Rs 62.1 crore

• Revenue up 4.5% at Rs 1,742 crore Vs Rs 1,667 crore

• EBITDA up 22.4% at Rs 279 crore vs Rs 228 crore

• Margin At 16% Vs 13.7%

Ujjivan Small Finance Bank Ltd.'s share price plunged as analysts reduced their target prices as well as earnings projection, after a 29% decline in the net profit in the quarter ended September 2024.

The private lender earned a net profit of Rs 233 crore, compared to Rs 328 crore in the year-ago period. The 29% decline was largely due to higher provisioning. Analyst consensus estimate compiled by Bloomberg was Rs 289 crore.

Laurus Labs share price jumped 7% after Jefferies raised the stock's target price to Rs 300 from Rs 250 while maintaining 'underperform' rating after the stock's rating.

Apollo Micro Systems Q2 Highlights (Consolidated, YoY)

• Net Profit at Rs 15.7 crore vs Rs 6.6 crore

• Revenue up 84.3% at Rs 161 crore vs Rs 87.2 crore

• EBITDA up 77.7% at Rs 32.7 crore vs Rs 18.4 crore

• Margin At 20.3% Vs 21%

Larsen & Toubro Ltd. has won a 'significant' order valued between Rs 1,000 to Rs 2,500 crore from the ITER Organization, an intergovernmental body headquartered in France.

This comes after the company's stock tumbled over 3% on Friday after UBS downgraded the stock and cut target price on likely weakening of new order growth and weak near-term outlook.

Hero MotoCorp Ltd.'s share price has come under pressure following a downgrade from UBS, which reiterated a "Sell" rating on the stock, citing significant challenges ahead for the automotive giant. The stock was down more than 2% in early trade on Friday.

Radico Khaitan Ltd. share price rose to the highest level since its listing on bourses after it reported a rise in its net profit during July–September quarter. The company reported that consolidated net profit rose 25% on the year to Rs 81 crore in the second quarter from Rs 65 crore.

In the 2,000-point fall of Nifty from its all-time high it hit on September 27, auto and realty were top lagging sectors. Among stocks, IndusInd Bank, Bajaj Auto, Tata Consumer Products were top laggards in Nifty's 2,000-point fall. RIL, ICICI Bank and M&M were top contributors to Nifty's fall from life highs.

In broader market, midcaps led the decline, Nifty Midcap 150 has fallen 10% from life high with Vodafone Idea, IGL, Cochin Shipyard falling the most.

UBS has downgraded L&T stock to 'Neutral' vs 'Buy' earlier and price target has been reduced to Rs 4,000 vs Rs 4,330 earlier. The brokerage believes focus on execution key over order not so easy intake growth.

State-owned Coal India Ltd., realty major DLF Ltd. and IndiGo parent InterGlobe Aviation Ltd. are the prominent companies that will report their earnings for the second quarter on Friday.

As many as 148 companies will declare their financial results for the quarter ended Sept. 30, 2024.

Hindustan Petroleum Corp., Bharat Petroleum Corp., Bandhan Bank, Balkrishna Industries Ltd. and JSW Steel Ltd. are among the other big names to report their earnings on Friday.

For all the updates on Q2 results, click here.

Colgate Palmolive (India) Ltd. share price hit over three–month low on Friday as its operating profit and overall margin missed analysts' estimates. Its Ebitda and margin declined due to expense in promotions and advertisement to battle high competition in the industry.

Godrej Consumer Products Ltd.'s share price was up nearly 6% after it reported an over 13% year-on-year uptick in its second quarter profit. The profit met analysts' estimates.

Consolidated net profit increased 13.4% over the year earlier to Rs 491 crore in the quarter-ended Sept. 30, 2024, according to an exchange filing. That compares with the Rs 499-crore consensus forecast of analysts tracked by Bloomberg.

Dixon Technologies Ltd. share price declined over 9% in early trade on Friday despite an impressive second quarter earnings.

Consolidated net profit in the quarter ended September jumped over 3.5 times, as per the financial results declared by the company on Thursday. Dixon Tech clocked a net profit of Rs 412 crore, which is 265% higher as compared to Rs 113 crore in the corresponding quarter of the previous fiscal.

Nifty Bank fell nearly 2% on Friday as most constituents traded lower. Axis Bank and Kotak Mahindra Bank were the only stocks in the index that traded in the green as of 10:16 a.m.

The allotment for the Waaree Energies IPO that was expected to be finalised on October 24 has now been delayed. Investors continue to anxiously wait for the allotment as GMP reached a new high ahead of its listing on Monday.

The fear gauge index or India VIX rose more than 4% on Friday after ending lower Thursday as benchmarks extended their fall.

Shares of Adani Total Gas Ltd., Mahanagar Gas Ltd., IRM Energy Ltd. and other city gas distribution companies tumbled in early trade on Friday after the sector regulator proposed to remove exclusivity to existing operators in 73 networks across India.

Petronet LNG Ltd. share price rose Friday as Dahej terminal's utilisation surprised the street by surpassing expectation of most analysts. Liquefied natural gas supplier's management was also confident to retain its full utilisation after its 5 million ton per annum capacity is commissioned from March, 2025.

The optimism surrounding the Dahej terminal's utilisation influenced analysts to look past a decline in its net profit during July–September, and retain their outlook on Petronet LNG share price.

Shares of ITC Ltd. rose over 3% after the diversified conglomerate released its financial results for the quarter ending Sept. 30, 2024. The company reported a net profit of Rs 5,078.34 crore for Q2 FY25, a 3% rise year-on-year.

Shares of IndusInd Bank Ltd. plunged to hit a 10% lower circuit on Friday after the lender's profit was hit from a 73% sequential increase in its provision on account of rising bad loans.

The lender's bottom line stood at Rs 1,325 crore on a standalone basis during the July-September period, as compared to Rs 2,181 crore in the year-ago quarter.

Benchmark equity indices saw a muted opening on Friday amid earnings season as shares of HDFC Bank and IndusInd Bank dragged but those of ITC and Axis Bank limited the downside.

At pre-open, the Nifty 50 was at 24418.05, up by 0.08% or 18.65 points and the Sensex was at 80187.34, up 0.15% or 122.18 points.

"Technically, not much has changed, but the overall sentiment remains cautious," said Sameet Chavan, head of research of technical and derivatives at Angel One. "For the last trading session of the week, Nifty is likely to stay within a range, with the 24350 and 24200 (bullish gap from August) serving as immediate support, given the oversold conditions on intraday charts."

Shares of IndusInd Bank Ltd., Larsen & Toubro Ltd., HDFC Bank Ltd., Infosys Ltd., and NTPC Ltd. dragged the Nifty. While those of Axis Bank Ltd., ITC Ltd., ICICI Bank Ltd., Kotak Mahindra Bank Ltd., and HCL Tech Ltd. limited the fall.

Most sectoral indices were lower but Nifty FMCG outperformed.

At pre-open, the Nifty 50 was at 24418.05, up by 0.08% or 18.65 points and the Sensex was at 80187.34, up 0.15% or 122.18 points.

Finolex Industries Q2 Earnings (Consolidated, YoY)

• Net Profit down 58.5% at Rs 40.7 crore vs Rs 98 crore

• Revenue down 6.2% at Rs 828 crore vs Rs 883 crore

• EBITDA down 89.7% at Rs 10.6 crore vs Rs 103 crore

• Margin At 1.3% vs 11.7%

The yield on the 10-year bond opened Filat at 6.82%.

It closed at 6.82% on Thursday.

Source: Bloomberg

Rupee opened flat at 84.07 against the US dollar.

It closed at 84.07 on Thursday.

Source: Bloomberg

Nuvama has downgraded IndusInd's rating to 'hold' and its target price to Rs 1,290 from Rs 1,690 earlier. It said that the bank's Q2 earnings were all round miss, weakest earnings in sector so far. Asset quality deteriorated especially in MFI and net interest income fell QoQ with fee income being weak.

Citi has lowered its target price to Rs 1,630 from Rs 2,010 earlier while maintaining a 'buy'. It said the lender's Q2 earnings missed estimates sharply in terms of credit cost, NIMs, fees surprise negatively. It noted that unless MFI starts outpacing loan growth, margins will remain at 4.1%. The brokerage has also cut growth expectations and earnings estimates by 18-22% for FY25-27.

Bernstein, however, has outperform rating for the stock and a target price of Rs 1800. It said that sharp decline in the RoA was due to rise in credit costs and contingent provisions and asset quality deteriorated across the consumer portfolios. The only positive according to the brokerage was better than system deposit growth was only positive.

Jefferies has raised its target price for Laurus Labs' stock to Rs 300 from Rs 250 earlier, while maintaining an 'underperform' rating. It said that its has cut 3%/2% cut in FY25/26 EPS estimates due to unclear growth levers in non-CDMO business and volatile sales.

The new target price implies downside potential of 33%. In Q2, the company missed estimates again due to operating deleverage affecting margins and despite improved CDMO sales. The company's management maintained 20% EBITDA margin target for FY25.

Morgan Stanley, in a report said that FY24 return on equity rose to a 13 year high of 16.9% in FY24 driven by margin expansion and that private capex cycle is underway that gives confidence that ROE is set for higher levels in next 3-4 years. Rising ROE means rising share prices, it explained and that this rise can be attributed to consumer discretionary and industrials.

Godrej Properties has emerged as the highest bidder for luxury group housing plot in Gurugram. The Gurugram project is expected to have revenue potential of over Rs 5,500 crore, an exchange filing said.

IndusInd Bank Q2 Highlights (Standalone, YoY)

• NII up 5% at Rs 5,347 crore versus Rs 5,077 crore.

• Net Profit down 39% At Rs 1,325 crore versus Rs 2,181 crore (Bloomberg estimate Rs 2,214 crore).

• Gross NPA At 2.11% Vs 2.02% (QoQ).

• Net NPA At 0.64% Vs 0.60% (QoQ).

• Provisions up 73% at Rs 1,820 crore versus Rs 1,050 crore (QoQ).

ITC Q2 Highlights (Standalone, YoY)

• Revenue up 16% to Rs 19,327.72 crore versus Rs 16,550 crore. (Bloomberg estimates Rs 18,068 crore).

• Ebitda up 5% to Rs 6,335.17 crore versus Rs 6,042 crore. (Bloomberg estimate Rs 6,506 crore).

• Margin at 32.8% versus 36.5%. (Bloomberg estimate Rs 36%).

• Net profit up 3% to Rs 5,078.34 crore versus Rs 4,927 crore (Bloomberg estimate Rs 5,154 crore).

• Approved the acquisition of 1.52 crore equity shares of Rs 2 each of EIH and 34.60 lakh equity shares of Rs 21 each of HLV from Russell Credit, a wholly owned subsidiary of the company.

Godrej Consumer Products Q2 Highlights (Consolidated, YoY)

• Revenue up 1.77% at Rs 3,666 crore versus Rs 3,602 crore (Bloomberg estimate Rs 3,631 crore).

• Ebitda up 5.25% at Rs 761 crore versus Rs 723 crore (Bloomberg estimate Rs 754 crore).

• Ebitda margin up 68 bps at 20.75% versus 20.07% (Bloomberg estimate 20.8%).

• Net profit up 13.39% at Rs 491 crore versus Rs 433 crore (Bloomberg estimate Rs 499 crore).

Castrol India Highlights (YoY)

• Revenue up 8.96% at Rs 1,288 crore versus Rs 1,182 crore (Bloomberg estimate Rs 1,297 crore).

• Ebitda up 7.49% at Rs 287 crore versus Rs 267 crore (Bloomberg estimate Rs 317 crore).

• Ebitda margin down 30 bps at 22.28% versus 22.58% (Bloomberg estimate 24.5%).

• Net profit up 7.21% at Rs 208 crore versus Rs 194 crore (Bloomberg estimate Rs 235 crore).

Radico Khaitan Q2 Highlights (Consolidated, YoY)

• Revenue up 9% at Rs 1,116 crore versus Rs 925 crore.

• Ebitda up 35% at Rs 163 crore versus Rs 121 crore.

• Ebitda margin at 14.6% versus 13.1%.

• Net profit up 25% at Rs 81 crore vs Rs 65 crore.

Coromandel International Q2 Highlights (Consolidated, YoY)

• Revenue up 6.4% to Rs 7,432.83 crore versus Rs 6,988.13 crore (Bloomberg estimate Rs 6,312 crore).

• Ebitda down 8% to Rs 974 crore versus Rs 1,059 crore. (Bloomberg estimate Rs 859 crore).

• Margin at 13.1% versus 15.2% (Bloomberg estimate Rs 13.6%).

• Net profit down 13% to Rs 659.10 crore versus Rs 754.59 crore (Bloomberg estimate Rs 624 crore).

DCB Bank Q2 Highlights (Consolidated, YoY)

• NII rise 7% to Rs 509 crore versus Rs 476 crore.

• Net profit rises 23% at Rs 155 crore versus Rs 127 crore.

• Gross NPAs at 3.29% vs 3.33% (QoQ).

• Net NPAs at 1.17% vs 1.18% (QoQ).

Go Digit Highlights (YoY)

• Total income up 16.4% at Rs 2,175 crore versus Rs 1,869 crore.

• Net profit at Rs 89.5 crore versus Rs 27.7 crore (Bloomberg estimate Rs 127 crore).

United Breweries Q2 Highlights (Consolidated, YoY)

• Revenue up 13.1% to Rs 2,116.72 crore versus Rs 1,890.05 crore. (Bloomberg estimate Rs 2068 crore).

• Ebitda up 23% to Rs 227.22 crore versus Rs 184.29 crore. (Bloomberg estimate Rs 222 crore).

• Margin at 10.7% versus 9.8%. (Bloomberg estimate 10.7%).

• Net profit up 23% to Rs 132.33 crore versus Rs 107.17 crore. (Bloomberg estimate Rs 125 crore)

Oracle Financial Services Software Q2 Highlights (Consolidated, QoQ)

• Revenue down 3.9% to Rs 1,673.90 crore versus Rs 1,741.40 crore.

• Ebitda down 12% to Rs 732.80 crore versus Rs 829.60 crore.

• Margin at 43.8% versus 47.6%.

• Net profit down 6% to Rs 577.70 crore versus Rs 616.70 crore.

GMR Airports Highlights (Cons, YoY)

• Revenue up 20.9% at Rs 2,495 crore versus Rs 2,064 crore (Bloomberg estimate Rs 2,461 crore).

• Ebitda up 19.3% at Rs 867 crore vs Rs 727 crore.

• Margin at 34.7% vs 35.2%.

• Net loss of Rs 429 crore versus loss of Rs 190 crore (Bloomberg estimate net loss of Rs 238 crore).

• Alert: Co has one-time gain of Rs 109 crore in second quarter of financial year 2025.

Le Travenues Technology Highlights (Consolidated, QoQ)

• Revenue up 13.18% at Rs 206 crore versus Rs 182 crore.

• Ebitda up 5.95% at Rs 17.8 crore versus Rs 16.8 crore.

• Ebitda margin down 58 bps at 8.64% versus 9.23%.

• Net profit down 13.33% at Rs 13 crore versus Rs 15 crore.

Dixon Technologies Q2 Highlights (Consolidated, QoQ)

• Revenue up 133.3% to Rs 11,534 crore versus Rs 4,943 crore.

• Ebitda up 114% to Rs 426.37 crore versus Rs 198.91 crore.

• Margin at 3.7% versus 4.0%.

• Net profit up 263% to Rs 412 crore versus Rs 113 crore.

PNB Housing Finance Q2 Highlights (Consolidated, YoY)

• Total income rises 5.7% at Rs 1,869 crore versus Rs 1,768 crore.

• Net profit rises 22.7% at Rs 472 crore versus Rs 384 crore.

Cyient Q2 Highlights (Consolidated, YoY)

• Revenue up 4.0% to Rs 1,849.10 crore versus Rs 1,778.50 crore (Bloomberg estimate Rs 1,802 crore).

• Ebitda down 9% to Rs 297 crore versus Rs 326 crore. (Bloomberg estimate Rs 302 crore).

• Margin at 16.0% versus 18.3%. (Bloomberg estimate 16.8%).

• Net Profit up 2% to Rs 186.60 crore versus Rs 183.60 crore (Bloomberg estimate Rs 168 crore).

• Board approved acquisition of Abu Dhabi and Gulf Computers Establishment via arm.

IEX Q2 Highlights (Consolidated, YoY)

• Revenue up 28% at Rs 139 crore vs Rs 109 crore (Bloomberg Estimate: Rs 150 crore).

• Ebitda up 30% at Rs 120 crore vs Rs 92 crore (Bloomberg Estimate: Rs 141 crore)

• Margins expanded 130 basis points to 86% vs 84.7% (Bloomberg Estimate: 93.7%).

• Net profit up 25% at Rs 108 crore vs Rs 87 crore (Bloomberg Estimate: Rs 110 crore).

Glenmark Life Sciences Q2 Highlights (Consolidated, YoY)

• Revenue down 14.9% to Rs 506.88 crore versus Rs 595.36 crore.

• Ebitda down 20% to Rs 134.35 crore versus Rs 167.08 crore.

• Margin at 26.5% versus 28.1%.

• Net profit down 20% to Rs 95.32 crore versus Rs 118.74 crore.

CIE Automotive India Q3 Highlights (Consolidated, YoY)

• Revenue down 6.4% to Rs 2,134.63 crore versus Rs 2,279.41 crore (Bloomberg estimate Rs 2262 crore).

• Ebitda down 4% to Rs 330.58 crore versus Rs 345.38 crore (Bloomberg estimate Rs 345 crore).

• Margin at 15.5% versus 15.2% (Bloomberg estimate 15.3%).

• Net profit down 48% to Rs 195.23 crore versus Rs 375.42 crore (Bloomberg estimate Rs 202 crore).

JSW Energy Q2 Highlights (Consolidated, YoY)

• Revenue down 0.7% to Rs 3,237.66 crore versus Rs 3,259.42 crore (Bloomberg estimate Rs 3648 crore).

• Ebitda down 10% to Rs 1,684.87 crore versus Rs 1,880.38 crore (Bloomberg estimate Rs 2,609 crore).

• Margin at 52.0% versus 57.7% (Bloomberg estimate 71.5%).

• Net profit up 2% to Rs 876.76 crore versus Rs 856.79 crore (Bloomberg estimate Rs 753 crore).

VST Industries Q2 Highlights (Consolidated, YoY)

• Revenue up 1.9% to Rs 360.03 crore versus Rs 349.54 crore.

• Ebitda down 14% to Rs 67.61 crore versus Rs 78.91 crore.

• Margin at 18.8% versus 22.6%.

• Net profit down 37% to Rs 47.56 crore versus Rs 75.95 crore.

Nippon Life India Asset Management Q2 Highlights (Consolidated, YoY)

• Total income rises 45.6% at Rs 692 crore versus Rs 475 crore.

• Net profit rises 47.3% at Rs 360 crore versus Rs 244 crore. (Bloomberg estimate Rs 313 crore)

R R Kabel Q2 Highlights (Consolidated, YoY)

• Revenue up 12.5% to Rs 1,810.14 crore versus Rs 1,609.67 crore.

• Ebitda down 29% to Rs 85.78 crore versus Rs 120.99 crore.

• Margin at 4.7% versus 7.5%.

• Net profit down 33% to Rs 49.53 crore versus Rs 74.10 crore.

Home Finance Q2 Highlights (Consolidated, YoY)

• Total Income rises 35% at Rs 3,74 crore versus Rs 2,78 crore.

• Net profit rises 24.11% at Rs 92 crore versus Rs 74 crore.

Petronet LNG Q2 Highlights (Consolidated, QoQ)

• Revenue down 2.9% to Rs 13,024 crore versus Rs 13,415 crore. (Bloomberg estimate Rs

• Ebitda down 23% to Rs 1,202 crore versus Rs 1,563 crore

• Margin at 9.2% versus 11.6%.

• Net profit down 21% to Rs 870.61 crore versus Rs 1,105.47 crore.

Mahanagar Gas Q2 Highlights (Consolidated, QoQ)

• Revenue up 7.1% to Rs 1,786.25 crore versus Rs 1,665.76 crore.

• Ebitda down 5% to Rs 413.42 crore versus Rs 436.75 crore.

• Margin at 23.1% versus 26.2%.

• Net profit down 2% to Rs 283.50 crore versus Rs 288.77 crore.

NTPC Q2 Highlights (Consolidated, YoY)

• Revenue down 0.6% to Rs 44,696.30 crore versus Rs 44,983.35 crore (Bloomberg estimate Rs 47,008 crore).

• Ebitda down 8% to Rs 11,655.23 crore versus Rs 12,680.19 crore (Bloomberg estimate Rs 13,237 crore).

• Margin at 26.1% versus 28.2% (Bloomberg estimate Rs 28.2%).

• Net profit up 14% to Rs 5,380.25 crore versus Rs 4,726.40 crore (Bloomberg estimate Rs 5,035 crore).

Chalet Hotels Q2 Earnings Highlights (Consolidated, YoY)

• Revenue up 20% to Rs 377.1 crore versus Rs 314.6 crore (Bloomberg estimate: Rs 372 crore).

• Ebitda up 19% to Rs 149.6 crore versus Rs 126 crore (Estimate: Rs 150 crore).

• Margin narrows 38 basis points to 39.66% versus 40.04% (Estimate: 40.40%).

• Net loss at Rs 138.5 crore versus net profit of Rs 36.4 crore (Estimate: Rs 64 crore).

V2 Retail Q2 Highlights (Consolidated, YoY)

• Revenue up 64.3% to Rs 380.00 crore versus Rs 231.32 crore.

• Ebitda up 66% to Rs 33.05 crore versus Rs 19.88 crore.

• Margin at 8.7% versus 8.6%.

• Net profit down 134% to Rs -1.93 crore versus Rs 5.70 crore.

Patanjali Foods Q2 Highlights (Consolidated, QoQ)

• Revenue up 13.7% to Rs 8,154.19 crore versus Rs 7,173.06 crore.

• Ebitda up 11% to Rs 449.13 crore versus Rs 405.60 crore.

• Margin at 5.5% versus 5.7%.

• Net profit up 17% to Rs 308.58 crore versus Rs 262.72 crore.

Bikaji Foods International Q2 Highlights (Consolidated, YoY)

• Revenue up 18.5% to Rs 721.17 crore versus Rs 608.69 crore (Bloomberg estimates Rs 710 crore).

• Ebitda up 22% to Rs 107 crore versus Rs 87.73 crore (Bloomberg estimates Rs 109 crore).

• Margin at 14.8% versus 14.4% (Bloomberg estimates 15.3%).

• Net profit up 15% to Rs 68.58 crore versus Rs 59.78 crore (Bloomberg estimates Rs 73 crore).

As of 7:47 a.m., futures of both Brent and Nymex Crude were up 0.3% at $74.57 a barrel and $70.38 a barrel respectively. On Thursday, they ended lower on concerns of slow economic growth in Europe.

Most indices in the Asia-Pacific region rose on Friday, except Nikkei which fell as market awaits election outcome of Japan over the weekend. At 7:26 a.m., Australia's ASX 200 was 0.4% higher, Hong Kong's Hang Seng rose 0.69%, CSI 300 traded flat, and Kospi gained 0.2%. Japan's Nikkei was trading 0.8% lower.

US markets were mixed at close on Thursday after Tesla reported higher than expected net profit. S&P 500 closed 0.21% up at 5,809.86, Dow Jones was down 0.33% at 42,374.36, and Nasdaq Composite rose 0.76% to 18,415.49.

At 6:50 a.m., GIFT Nifty traded flat at 24,461.50. Among other stocks. those of IndusInd Bank Ltd., ITC Ltd., Godrej Consumer Products Ltd. and NTPC Ltd. will be in focus today after they announced their quarterly results post market hours.

On Thursday, the NSE Nifty 50 and BSE Sensex settled at over a two-month low for a third consecutive session, as earnings reported and global cues failed to uplift investors' sentiment.

The Nifty 50 ended 36.10 points, or 0.15% down at 24,399.40, and the Sensex ended 16.82 points, or 0.02% lower at 80,065.16.

Markets abroad stand improved today, with stocks in Asia Pacific trading mixed after Wall Street's first gain this week.

Overseas investors remained net sellers of Indian equities for the 19th consecutive session on Thursday, while domestic institutional investors stayed net buyers for the 23rd straight session. The FPIs offloaded stocks worth Rs 5,062.5 crore, while domestic institutional investors bought stocks worth Rs 3,620.5 crore, according to provisional data from the National Stock Exchange.

The Indian rupee appreciated by 1 paisa to close at 84.077 against the US dollar.