Stock Market Today: All You Need To Know Going Into Trade On Nov. 8
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Asian indices tracked overnight gains in their US peers and opened higher on Friday after the US Federal Reserve rate cut. As of 7:02 a.m., Australia's ASX 200 rose over 1%, Japan's Nikkei traded 0.5% higher, and South Korea's Kospi rose 0.7%.
Two of the three main Wall Street indices closed in the green on Thursday as the US stock market extended the rally driven by Donald Trump's decisive win in the presidential election as well as Federal Reserve rate cut. The S&P 500 and the tech-heavy Nasdaq Composite advanced 0.74% and 1.51%, respectively, while the Dow Jones Industrial Average remained flat.
GIFT Nifty was at 24,278.00, down by 64.5 points, or 0.3% at 07:10 a.m.
The broader index, S&P 500, opened 0.3% higher at 5,947.21 points, whereas the tech-heavy Nasdaq Composite was up 0.5% at 19,084.43 at the opening bell.
The 30-stock Dow Jones Industrial Average, however, started the trade on a flat note. It opened 11.01 points lower at 43,729.93.
The NSE Nifty 50 and the BSE Sensex snapped a two-day rally and settled over 1% lower on Thursday, tracking losses in ICICI Bank Ltd. and Reliance Industries Ltd. The Indian benchmarks were also one of the worst-performing indices as compared to Asian peers.
The Nifty 50 closed 284.70 points or 1.16%, down at 24,199.35, while the Sensex ended 836.34 points or 1.04%, lower at 79,541.79.
During the day, the Nifty 50 declined as much as 1.25% to 24,179.05 and the Sensex declined 1.19% to 74,419.34.
Overseas investors remained net sellers of Indian equities for the 29th consecutive session on Thursday, while domestic institutional investors also stayed net buyers.
Foreign portfolio investors sold stocks worth Rs 4,888.77 crore and the DIIs mopped up stocks worth approximately Rs 1,786.70 crore, according to provisional data from the National Stock Exchange.
The Indian currency closed flat against the US dollar at 84.376 on Thursday.
Earnings In Focus
Aarti Industries, Action Construction, Alembic, Ashok Leyland (Standalone), Bajaj Hindusthan Sugar, Mrs. Bectors, Cholamandalam Financial, Dreamfolks Services, Equitas SFB (Standalone), ESAB India, Ethos, Fine Organic Industries, Fortis Healthcare, GE Vernova T&D, India Cements, Inox India, Jupiter Life Line Hospitals, Jupiter Wagons, Latent View Analytics, LIC (Standalone), CE Info Systems, Mayur Uniquoters, Metropolis Healthcare, MRF, Motherson Sumi, Info Edge, Orient Cement, Piccadily Agro, Premier Energies, Puravankara, Relaxo Footwears, R Systems International (Q3), Safari Industries, Samhi Hotels, Satin Creditcare (Standalone), State Bank of India (Standalone), Shipping Corp, Signatureglobal (India), SMS Pharma, Star Cement, Tata Motors, Welspun Corp, and ZF Commercial, are the prominent firms that will announce their results on Friday for the second quarter of the current financial year.
Earnings Post Market Hours
Lupin Q2 FY25 (Consolidated, YoY)
Revenue up 12.58% at Rs 5,672 crore versus Rs 5,038 crore (Bloomberg estimate Rs 5560 crore).
Ebitda up 41.66% at Rs 1,308 crore versus Rs 923.3 crore (Bloomberg estimate Rs 1203 crore).
Ebitda margin up 473 bps at 23.06% versus 18.32% (Bloomberg estimate 21.6%).
Net profit up 74.08% at Rs 853 crore versus Rs 490 crore (Bloomberg estimate Rs 742 crore).
NHPC Q2 FY25 (Consolidated, YoY)
Revenue up 4.12% at Rs 3,052 crore versus Rs 2,931 crore (Bloomberg estimates Rs 3,023 crore)
Ebitda up 1.75% at Rs 1,799 crore versus Rs 1,768 crore (Bloomberg estimates Rs 1,808 crore).
Ebitda margin down 137 bps at 58.94% versus 60.32% (Bloomberg estimates 59.8%).
Net profit down 36.85% at Rs 1,069 crore versus Rs 1,693 crore (Bloomberg estimates Rs 1,178 crore)
RVNL Q2 FY25 (Consolidated, YoY)
Revenue down 1.2% to Rs 4,854.95 crore versus Rs 4,914.3 crore (Bloomberg estimate: Rs 5,160 crore).
Ebitda down 9% to Rs 271.5 crore versus Rs 298.3 crore (Estimate: Rs 310 crore).
Margin narrows 50 basis points to 5.6% versus 6.1% (Estimate: 6%).
Net profit down 27% to Rs 286.9 crore versus Rs 394.4 crore (Estimate: Rs 356 crore).
RPG LIFE Science Q2 FY25 (YoY)
Revenue up 11.68% at Rs 172 crore versus Rs 154 crore.
Ebitda up 21.75% at Rs 45.17 crore versus Rs 37.1 crore.
Ebitda margin up 217 bps at 26.26% versus 24.09%.
Net profit down 83.84% at Rs 4.2 crore versus Rs 26 crore.
An exception item (transfer charges) of Rs 27 crore weighed on the bottom line.
ITD Cementation Q2 FY25 (Consolidated, YoY)
Revenue up 23.6% to Rs 1,991 crore versus Rs 1,611 crore (Bloomberg estimate Rs 2,113 crore).
Ebitda up 15% to Rs 182 crore versus Rs 158.17 crore (Bloomberg estimate Rs 200 crore).
Margin at 9.1% versus 9.8% (Bloomberg estimate 9.4%).
Net profit up 34% to Rs 72.20 crore versus Rs 53.70 crore (Bloomberg estimate Rs 74 crore).
GMM Pfaudler Q2 FY25 (Consolidated, YoY)
Revenue down 14.09% at Rs 805 crore versus Rs 937 crore (Bloomberg estimates Rs 813 crore).
Ebitda down 35.21% at Rs 92 crore versus Rs 142 crore (Bloomberg estimates Rs 92 crore).
Ebitda margin down 372 bps at 11.42% versus 15.15% (Bloomberg estimates 11.3%).
Net profit down 74.62% at Rs 17 crore versus Rs 67 crore (Bloomberg estimates Rs 56 crore).
IRCON International Q2 FY25 (Consolidated, YoY)
Revenue down 19.3% to Rs 2,448 crore versus Rs 3,033 crore.
Ebitda down 23% to Rs 201 crore versus Rs 262 crore.
Margin at 8.2% versus 8.6%.
Net profit down 18% to Rs 206 crore versus Rs 251 crore.
Emami Q2 FY25 (Consolidated, YoY)
Revenue up 3% at Rs 891 crore versus Rs 865 crore (Bloomberg estimate Rs 917 crore).
Ebitda up 7.26% at Rs 251 crore versus Rs 234 crore (Bloomberg estimate Rs 247 crore).
Ebitda margin up 111 bps at 28.17% versus 27.05% (Bloomberg estimate 27%).
Net profit up 17.22% at Rs 211 crore versus Rs 180 crore (Bloomberg estimate Rs 195 crore).
Steel Authority of India Highlight (Consolidated, YoY)
Revenue down 17.0% to Rs 24,675 crore versus Rs 29,712 crore.
Ebitda down 25% to Rs 2,912.71 crore versus Rs 3,875.36 crore.
Margin at 11.8% versus 13.0%.
Net profit down 31% to Rs 897.15 crore versus Rs 1,305.59 crore.
Sanofi India Q3 FY25 (Consolidated, YoY)
Revenue up 6.72% at Rs 524 crore versus Rs 491 crore (Bloomberg estimate Rs 478 crore).
Ebitda up 5.38% at Rs 119.4 crore versus Rs 113.3 crore (Bloomberg estimate Rs 121 crore).
Ebitda margin down 28 bps at 22.78% versus 23.07% (Bloomberg estimate 25.3%).
Net profit down 46.05% at Rs 82 crore versus Rs 152 crore (Bloomberg estimate Rs 90 crore).
Rhi Magnesita Q2 FY25 (Consolidated, YoY)
Revenue down 12.16% at Rs 867 crore versus Rs 987 crore (Bloomberg estimates Rs 1,021 crore).
Ebitda down 27.21% at Rs 107 crore versus Rs 147 crore (Bloomberg estimate Rs 170 crore).
Ebitda margin down 255 bps at 12.34% versus 14.89% (Bloomberg estimates 16.7%).
Net profit down 36.11% at Rs 46 crore versus Rs 72 crore (Bloomberg estimate Rs 86 crore).
AGI Greenpac Q2 FY25 (Standalone, YoY)
Revenue down 2.6% to Rs 599 crore versus Rs 615 crore.
Ebitda up 15% to Rs 154.25 crore versus Rs 133.75 crore.
Margin at 25.7% versus 21.8%.
Net profit up 28% to Rs 72.08 crore versus Rs 56.14 crore.
HIL Q2 FY25 (Consolidated, YoY)
Revenue up 7.1% to Rs 774.46 crore versus Rs 723.22 crore (Bloomberg estimates Rs 802 crore).
Ebitda loss at Rs 41.16 crore versus Ebitda of Rs 3.02 crore (Bloomberg estimates Rs 27 crore).
Net profit at Rs 14.67 crore versus loss of Rs 15.78 crore (Bloomberg estimates loss of Rs 14 crore).
Astral Q2 FY25 (Consolidated, YoY)
Revenue up 0.51% at Rs 1370 crore versus Rs 1363 crore (Bloomberg estimate Rs 1,489 crore).
Ebitda down 4.1% at Rs 210 crore versus Rs 219 crore (Bloomberg estimate Rs 236 crore).
Ebitda margin down 73 bps at 15.32% versus 16.06% (Bloomberg estimate 15.9%).
Net profit down 17.42% at Rs 109 crore versus Rs 132 crore (Bloomberg estimate Rs 135 crore).
Indian Hotels Q2 FY25 (Consolidated, YoY)
Revenue up 27.42% at Rs 1,826 crore versus Rs 1,433 crore (Bloomberg estimate Rs 1,738 crore).
Ebitda up 41.52% at Rs 501 crore versus Rs 354 crore (Bloomberg estimate Rs 468 crore).
Ebitda margin up 273 bps at 27.43% versus 24.7% (Bloomberg estimate 26.9%).
Net profit up 225.69% at Rs 583 crore versus Rs 179 crore (Bloomberg estimate Rs 248 crore).
Jagran Prakashan Q2 FY25 (Consolidated, YoY)
Revenue down 2.84% at Rs 446 crore versus Rs 459 crore.
Ebitda down 6.94% at Rs 67 crore versus Rs 72 crore.
Ebitda margin down 66 bps at 15.02% versus 15.68%.
Net profit at Rs 42 crore versus Rs 42 crore.
Gujarat Petronet Q2 FY25 (Consolidated, QoQ)
Revenue down 15.54% at Rs 3,992 crore versus Rs 4,726 crore.
Ebitda down 14.81% at Rs 707 crore versus Rs 830 crore.
Ebitda margin up 14 bps at 17.71% versus 17.56%.
Net profit down 19.73% at Rs 423 crore versus Rs 527 crore.
Cummins India Q2 FY25 (Consolidated, YoY)
Revenue up 30.6% at Rs 2509 crore versus Rs 1921 crore (Bloomberg estimates Rs 2252 crore).
Ebitda up 40.17% at Rs 485 crore versus Rs 346 crore (Bloomberg estimates Rs 451 crore).
Ebitda margin up 131 bps at 19.33% versus 18.01% (Bloomberg estimates 20%).
Net profit up 36.77% at Rs 450 crore versus Rs 329 crore (Bloomberg estimates Rs 422 crore).
Emcure Pharma Q2 FY25 (Consolidated, QoQ)
Revenue up 20.32% at Rs 2001 crore versus Rs 1663 crore.
Ebitda up 15.5% at Rs 380 crore versus Rs 329 crore.
Ebitda margin down 79 bps at 18.99% versus 19.78%.
Net profit up 37.67% at Rs 201 crore versus Rs 146 crore.
Innova Captab Highlight (Consolidated, YoY)
Revenue up 12.5% to Rs 318.20 crore versus Rs 282.94 crore.
Ebitda up 23% to Rs 49.73 crore versus Rs 40.48 crore.
Margin at 15.6% versus 14.3%.
Net profit up 53% to Rs 35.00 crore versus Rs 22.91 crore.
Kennametal India Highlight (Consolidated, YoY)
Revenue up 4.8% to Rs 270.40 crore versus Rs 257.90 crore.
Ebitda up 21% to Rs 42.40 crore versus Rs 34.90 crore.
Margin at 15.7% versus 13.5%.
Net profit up 46% to Rs 25.00 crore versus Rs 17.10 crore.
The Great Eastern Shipping Company Highlight (Consolidated, YoY)
Revenue up 10.2% to Rs 1,354.40 crore versus Rs 1,229.02 crore.
Ebitda up 5% to Rs 635.42 crore versus Rs 605.47 crore.
Margin at 46.9% versus 49.3%.
Net profit up 29% to Rs 71.37 crore versus Rs 55.26 crore.
India Glycols Q2 FY25 (Consolidated, YoY)
Revenue up 24.12% at Rs 962 crore versus Rs 775 crore.
Ebitda up 21.87% at Rs 117 crore versus Rs 96 crore.
Ebitda margin down 22 bps at 12.16% versus 12.38%.
Net profit up 31.57% at Rs 50 crore versus Rs 38 crore.
Yatharth Hospital and Trauma Care Services Q2 FY25 (Consolidated, YoY)
Revenue up 27.1% to Rs 217.77 crore versus Rs 171.28 crore (Bloomberg estimates Rs 248 crore).
Ebitda up 20% to Rs 54.63 crore versus Rs 45.57 crore (Bloomberg estimates Rs 64 crore).
Margin at 25.1% versus 26.6% (Bloomberg estimates 25.8%).
Net profit up 12% to Rs 30.95 crore versus Rs 27.60 crore (Bloomberg estimates Rs 42 crore).
NRB Bearings Q2 FY25 (Consolidated, YoY)
Revenue up 8.1% to Rs 301.51 crore versus Rs 278.99 crore.
Ebitda up 14% to Rs 51.83 crore versus Rs 45.51 crore.
Margin at 17.2% versus 16.3%.
Net profit up 46% to Rs 35.94 crore versus Rs 24.63 crore.
Aditya Birla Fashion Q2 FY25 (Consolidated, YoY)
Revenue up 12.95% at Rs 3,644 crore versus Rs 3,226 crore.
Ebitda up 12.07% at Rs 362 crore versus Rs 323 crore.
Ebitda margin down 7 bps at 9.93% versus 10.01%.
Net loss at Rs 215 crore versus loss of Rs 200 crore.
Stocks To Watch
Brigade Enterprise: The company signed a JD pact to develop a 1 million sq ft residential apartment in Chennai. The project is to have a gross development value of Rs 800 crore.
Oil India: The company became the preferred bidder for phop graphite and vanadium blocks in Arunachal Pradesh.
Reliance Power: The company responded to SECI's decision to bar it from bidding on tenders for three years, stating it has been a victim of fraud, forgery, and criminal conspiracy. The company filed a case with the Economic Offences Wing on Oct. 16 and announced plans to legally challenge SECI's order.
Vedanta: The company became the preferred bidder for depo vanadium and graphite blocks in Arunachal Pradesh and sanyasikoppa cobalt, manganese and iron blocks in Karnataka.
Hindustan Zinc: The company became the preferred bidder for Balepalyam tungsten in Andhra Pradesh and Nayakkarpatti tungsten block in Tamil Nadu.
Borosil Renewables: The government has initiated an anti-dumping investigation into the alleged dumping of solar glass from China and Vietnam. The Commerce Ministry has recommended imposing a provisional anti-dumping duty to protect the interests of domestic solar glass manufacturers.
Adani Enterprises: NCLT approved merger of company’s arm with Adani Power's arm, Mahan Energen.
ITI: The company with the consortium partner emerged as the lowest bidder for the Rs 3,022 crore BharatNet project.
Mahanagar Gas: The company will form a joint venture with US-based International Battery to produce and sell battery cells in India. The company will acquire over 40% stake in the company for Rs 230 crore.
IPO Offering
Swiggy: The public issue was subscribed to 0.35 times on day 2. The bids were led by qualified institutional investors (0.28 times), non-institutional investors (0.14 times), retail investors (0.84 times), and reserved for employees (1.15 times).
ACME Solar Holdings: The public issue was subscribed to 0.7 times on day 2. The bids were led by qualified institutional investors (0.31 times), non-institutional investors (0.56 times), retail investors (2.04 times), reserved for employees (0.98 times).
Sagility India: The public issue was subscribed to 3.2 times on day 2. The bids were led by qualified institutional investors (3.52 times), non-institutional investors (1.93 times), retail investors (4.16 times), and reserved for employees (3.75 times).
Niva Bupa Health Insurance: The public issue was subscribed to 0.65 times on day 1. The bids were led by qualified institutional investors (0.79 times), non-institutional investors (0.33 times), and retail investors (0.71 times).
Bulk Deals
Teamlease Services: T. Rowe Price International Discovery Fund sold 1.34 lakh shares (0.8%) at Rs 2747.43 apiece.
Pledge Share Details
Asahi India Glass: Promoter Sanjay Labroo revoked a pledge for 14 lakh shares on Nov. 5.
Insider Trades
Poonawalla Fincorp: Promoter Rising Sun Holdings Pvt. Ltd. bought 3.73 lakh shares on Nov. 6.
Trading Tweaks
Ex/dividend: CAMS, Petronet LNG, TCI Express, IRB Infra, Global Education, Zee Entertainment, Dabur India, REC.
Ex/special dividend: CAMS,
Ex/stock split: Roto Pumps. (Face Value split from RS 2 to RE 1.)
Price band change from 20% to 10%:
Moved out short term ASM: CARE Ratings, Deepak Fertilizers and Petrochemicals Corporation, Syrma SGS Technology.
F&O Cues
Nifty November futures down by 1.24% to 24,300 at a premium 101 points.
Nifty November futures open interest up by 3.03%.
Nifty Bank November futures down by 0.9% to 52,199 at a premium of 283 points.
Nifty Bank November futures open interest up 2%.
Nifty Options Nov. 14 Expiry: Maximum call open interest at 26,900 and maximum put open interest at 22,250.
Bank Nifty Options Nov. 13 Expiry: Maximum call open Interest at 60,000 and maximum put open interest at 49,000.
Securities in ban period: Aditya Birla Fashion Retail, Granules.
Money Market
The Indian rupee ended at a fresh record low on Thursday after having opened marginally stronger amid a surge in the dollar index during overnight trade as Donald Trump’s victory might lead to higher US interest rates, aggressive policies, and tariff threats.
The domestic currency depreciated 9 paise to close at Rs 84.376 after opening 2 paise stronger at Rs 84.26 on Thursday. It closed at Rs 84.28 on Wednesday, according to Bloomberg data.
On Wednesday, the rupee plunged 18 paise, hitting its lowest point in four and a half months, amid growing fears of a stronger US dollar and potential economic fallout from a Trump presidency.
