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

Asian indices tracked losses on the Wall Street and were lower in early trade on Wednesday. Japan's Nikkei fell the most by 1.7% as of 6:37 a.m., followed by South Korea's Kospi which traded 0.9% down and Australia's ASX 200 which fell 0.4%.

In US market, S&P 500 closed down 0.76% at 5,815.26, Dow Jones fell 0.75% to close at 42,740.42, and Nasdaq Composite was 1.01% lower at 18,315.59. The fall was led by technology stocks after weak sales forecast from ASML.

Brent crude was 0.35% up at $74.51 a barrel, while gold was flat at $2,679.10 an ounce.

As of 6:42 a.m., GIFT Nifty traded flat at 25,044.50.

Meanwhile, India's benchmark stock indices closed lower on Tuesday, influenced by a decline in Reliance Industries Ltd., which reported disappointing profits for the September quarter. Reliance accounted for 37.36 points of the Nifty 50's overall 65-point drop.

The Nifty fell by 0.28% or 70.60 points to close at 25,057.35, while the Sensex dropped 0.19% or 152.93 points to finish at 81,820.12.

Overseas investors, known as foreign portfolio investors, remained net sellers of Indian equities for the 12th consecutive session on Tuesday, offloading stocks worth Rs 1,748.7 crore. In contrast, domestic institutional investors purchased stocks worth Rs 1,655 crore, according to provisional data from the National Stock Exchange.

The Indian rupee strengthened by 2 paise to close at 84.04 against the US dollar.

KEI Industries Q2 FY25 (Consolidated, YoY)

• Revenue up 17.22% to Rs 2,280 crore versus Rs 1,945 crore (Bloomberg estimate Rs 2,266 crore).

• Ebitda up 9.2% to Rs 220.6 crore versus Rs 202 crore (Bloomberg estimate Rs 240 crore).

• Ebitda margin down 71 bps at 9.67% versus 10.38% (Bloomberg estimate 10.6%).

• Net profit up 10.71% to Rs 155 crore versus Rs 140 crore (Bloomberg estimate Rs 167 crore).

• The company raised Rs 2,000 crore from QIP.

Rallis India Q2 FY25 (YoY)

• Revenue up 11.5% to Rs 928 crore versus Rs 832 crore.

• Ebitda up 25% to Rs 166 crore versus Rs 133 crore.

• Margin at 17.9% versus 16.0%.

• Net Profit up 20% to Rs 98 crore versus Rs 82 crore.

Bajaj Auto, Crisil, Himadri Speciality Chemical, L&T Technology Services, and Mphasis.

• PNC Infratech: The company has received two letters of acceptance from the Maharashtra State Road Development Corp. for contracts aggregating Rs 4,630 crore. The first order of Rs 2,268 crore includes construction of the access-controlled Pune Ring Road in Pune district. The second contract of Rs 2,362 crore involves constructing an access-controlled expressway connector to the Hindu Hrudaysamrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg, spanning from Jalna to Nanded in Maharashtra.

• Ashoka Buildcon: The company received a letter of acceptance for a construction project worth Rs 1,127 crore from Brihanmumbai Municipal Corporation.

• Cochin Shipyard: The government to sell up to a 5% stake in the company through an offer for sale at a floor price set at Rs 1,540 per share. The offer includes a base offer of 2.5% and an oversubscription option of an additional 2.5%. The offer for sale to open on Oct. 16 closes on Oct. 17.

• G R Infraprojects: The company received a letter of acceptance from the Maharashtra Government for a Rs 1,886 crore project.

• ONGC: The company has been allotted 559 crore equity shares of Rs 10 each of its arm OPAL by way of subscription of shares on the right basis. State-owned Oil and Natural Gas Corp. has increased its stake in ONGC Petro Additions to 94.04% after acquiring a stake in its arm.

• Railtel Corporation of India: The company received a Rs 79.8 crore order from Maharashtra Housing Body.

• Sansera Engineering: The company raises Rs 1,200 crore through qualified institutional placement. The board approved the allocation of 77.22 lakh shares at an issue price of Rs 1,554 per share. This is at a 4.98% discount to the floor price of Rs 1,635.48 apiece.

• Power Finance Corporation: The company arm transfers units Jamnagar Transmission and Navinal Transmission to Adani Energy Solutions.

• Ceigall India: The company was declared level 1 bidder for a project worth Rs 207 crore in Jharkhand.

• HFCL: The company launched Advanced 4G and 5G Backhauling and Energy-Efficient Rural Broadband Connectivity Solutions.

• Dynacons Systems and Solutions: The company has successfully attained the ISACA’s Capability Maturity Model Integration—SVC V3.0 Maturity Level 5 appraisal.

• Vakrangee: Life Insurance Corporation of India decreases stake in the company from 6.4% to 4.4%.

• Hyundai Motor India: The public issue was subscribed to 0.18 times, or 18%, on day 1. There bids were led by reserved for employees (0.80 times), retail investors (0.26 times, or 26%), non-institutional investors (0.13 times, or 13%) and qualified institutional investors (0.5 times, or 5%).

• Mastek: Smallcap World Fund Inc. sold 5.3 lakh shares (1.71%) at Rs 2,801.68 apiece, while Aalidhra Textool Engineers Private Limited bought 2 lakh shares (0.64%) at Rs 2,800.81 apiece.

• Gandhar Oil Refinery (India): Upadhyaya Ajay Shiv Narayan bought 5 lakh shares (0.51%) at Rs 230.14 apiece.

• Garuda Construction and Engineering: Societe Generale sold 7.21 lakh shares (0.78%) at Rs 105 apiece.

• Price band change from 20% to 10%: Premier Polyfilm.

• Ex/record dividend: NRB Bearing.

• Ex/record stock split: Pondy Oxides (face value split from Rs 10 to Rs 5).

• Moved in short-term ASM: Ganesh Housing Corporation, Premier Polyfilm, Skipper, and Usha Martin.

• Nifty October futures down by 0.36% to 25,118 at a premium 61 points.

• Nifty October futures open interest up by 0.82%.

• Nifty Bank October futures up by 0.2% to 52,106 at a premium of 200 points.

• Nifty Bank October futures open interest up 0.17%.

• Nifty Options Oct. 17 Expiry: Maximum call open interest at 25,200 and maximum put open interest at 25,000. 

• Bank Nifty Options Oct. 16 Expiry: Maximum call open interest at 52,000 and maximum put open interest at 51,000.

• Securities in ban period: Bandhan Bank, Chambal Fertilizers, GNFC, Granules, Hindustan Copper, IDFC First Bank, IEX, Manappuram, National Aluminium, PNB, RBL Bank, Sail, Tata Chemical.

The Indian rupee closed stronger against the dollar on Tuesday amid continued intervention by the Reserve Bank of India and easing foreign fund outflows from domestic bonds and equities. 

The domestic currency strengthened by 2 paise to close at Rs 84.04 against the US dollar, according to Bloomberg data. The rupee closed at Rs 84.06 on Monday against the greenback.

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