Stock Market Today: All You Need To Know Going Into Trade On Oct. 23
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Asia–Pacific markets gained in early trade on Wednesday despite a subdued close on Wall Street as investors speculate about probable rate trajectory in the US. As of 06:32 a.m., the Nikkei 225 was trading 22.92 points or 0.06% higher at the 38,434.88, and the S&P ASX 200 was 16.90 points or 0.21% higher at 8,222.60 as of 06:34 a.m.
On Tuesday, the S&P 500 and Dow Jones Industrial Average ended 0.02% and 0.05%, down respectively. The Nasdaq Composite ended 0.18% higher.
The brent crude was trading 0.38% down at $75.75 a barrel as of 06:36 a.m. The Gold December future was trading flat at $2,759.70 an ounce as of 06:37 a.m.
The GIFT Nifty was trading 0.11% or 27.50 points down at 24,547.50 as of 06:37 a.m.
The NSE Nifty 50 and the BSE Sensex closed at the lowest level in over two months on Tuesday as the share price of heavyweights Reliance Industries Ltd. and HDFC Bank Ltd. dragged. Broad-based weakness in US stocks and Asian and European shares due to concern about the pace of unwinding of monetary conditions in the US also seeped into the Indian markets.
The Nifty 50 ended 309 points or 1.25% down at 24,472.10, and the Sensex closed 930.55 or 1.15% down at 80,220.72, the lowest level since Aug 14.
Overseas investors remained net sellers of Indian equities for the 17th consecutive session on Tuesday, while domestic institutional investors stayed net buyers for the 21st straight session. The FPIs offloaded stocks worth Rs 3,978.6 crore, while domestic institutional investors bought stocks worth Rs 21,545.9 crore, according to provisional data from the National Stock Exchange.
The Indian currency closed flat at 84.076 against the US dollar.
Earnings Post Market Hours
Bajaj Finance Q2 FY25 (Consolidated, YoY)
Revenue up 27.72% at Rs 17095 crore versus Rs 13384 crore.
Net profit up 13.03% at Rs 4014 crore versus Rs 3551 crore (Bloomberg estimate Rs 4,118 crore).
Net interest income up 23% at Rs 8,838 crore vs Rs 7,190 crore.
AUM up 29% to Rs 3.73 lakh crore.
Gross NPA at 1.06%.
Net NPA at 0.46%.
FY25 credit cost guidance hiked from 1.75-1.85% to 2-2.05%.
Exceptional gain of Rs 2,544 crore in half-year standalone balance sheet on account of Bajaj Housing stake sale.
Adani Green Q2 FY25 (Consolidated, YoY)
Revenue up 38% at Rs 3,055 crore vs Rs 2,220 crore.
Ebitda up 30% at Rs 2,205 crore vs Rs 1,699 crore.
Ebitda margin at 72.2% vs 76.5%.
Net profit up 39% at Rs 515 crore vs Rs 371 crore.
Zomato Q2 FY25 (Consolidated, YoY)
Revenue up 68.5% at Rs 4799 crore versus Rs 2848 crore (Bloomberg estimate Rs 4,682 crore).
Ebitda at Rs 226 crore versus loss of Rs 47 crore (Bloomberg estimate Rs 209 crore).
Ebitda margin 4.7% (Bloomberg estimate 4.5%).
Net profit up 388.88% at Rs 176 crore versus Rs 36 crore (Bloomberg estimate Rs 249 crore).
Approved raising of funds up to Rs 8,500 crore via QIP.
Zensar Technologies Q2 FY25 (Consolidated, QoQ)
Revenue up 1.55% at Rs 1308 crore versus Rs 1288 crore (Bloomberg estimate Rs 1,310 crore).
EBIT down 29.04% at Rs 171.5 crore versus Rs 241.7 crore (Bloomberg estimate Rs 170 crore).
EBIT margin down 565 bps at 13.11% versus 18.76% (Bloomberg estimate 12.9%).
Net profit down 1.26% at Rs 156 crore versus Rs 158 crore (Bloomberg estimate Rs 153 crore).
Persistent Systems Q2 FY25 (Consolidated, QoQ)
Revenue up 5.84% at Rs 2897 crore versus Rs 2737 crore (Bloomberg estimate Rs 2,866 crore).
EBIT up 5.75% at Rs 406.2 crore versus Rs 384.1 crore (Bloomberg estimate Rs 392 crore).
EBIT margin down 1 bps at 14.02% versus 14.03% (Bloomberg estimate 13.7%).
Net profit up 6.2% at Rs 325 crore versus Rs 306 crore (Bloomberg estimate Rs 316 crore).
Amber Enterprises Q2 FY25 (Consolidated, YoY)
Revenue up 81.7% at Rs 1,685 crore versus Rs 927 crore (Bloomberg estimate Rs 1,205 crore).
Ebitda up 91% at Rs 114 crore versus Rs 60 crore (Bloomberg estimate Rs 84 crore).
Margin at 6.8% versus 6.4% (Bloomberg estimate 7%).
Net profit of Rs 21 crore versus loss of Rs 5.7 crore (Bloomberg estimate Rs 4 crore).
Approve merger Of Amberpr Technoplast India with company.
Shoppers Stop Q2 FY25 (Consolidated, YoY)
Revenue up 7.3% to Rs 1,114.87 crore versus Rs 1,039.12 crore.
Ebitda down 7% to Rs 149.83 crore versus Rs 160.92 crore.
Margin at 13.4% versus 15.5%.
Net loss at Rs 20.59 crore versus Rs 2.73 crore.
Max Financial Services Q2 FY25 (Consolidated, YoY)
Total income grows 31.3% at Rs 13,376 crore versus Rs 10,189 crore.
Net profit down 18.2% at Rs 139 crore vs Rs 170 crore.
Ugro Capital Q2 FY25 (Consolidated, YoY)
Total Income rose 35.2% at Rs 343 crore versus Rs 254 crore.
Net profit rose 22.9% at Rs 35.5 crore versus Rs 28.9 crore.
IIFL Securities Q2 FY25 (Consolidated, YoY)
Total income up 32% at Rs 704 crore vs Rs 534 crore.
Net profit up 90% at Rs 205 crore vs Rs 108 crore.
Welspun Speciality Solutions Q2 FY25 (YoY)
Revenue down 19.72% at Rs 167 crore versus Rs 208 crore.
Ebitda down 76.92% at Rs 3 crore versus Rs 13 crore.
Ebitda margin down 445 bps at 1.79% versus 6.25%.
Net loss at Rs 6 crore versus profit of Rs 5 crore.
Gabriel India Q2 FY25 (Consolidated, YoY)
Revenue up 18.8% to Rs 1,027.09 crore versus Rs 864.45 crore (Bloomberg estimate Rs 1.109 crore).
Ebitda up 34% to Rs 98.71 crore versus Rs 73.83 crore (Bloomberg estimate Rs 111 crore).
Margin at 9.6% versus 8.5%. (Bloomberg estimate 10%).
Net profit up 36% to Rs 62.92 crore versus Rs 46.33 crore. (Bloomberg estimate Rs 72 crore).
Board approves interim dividend of Rs 1.75 per share.
Olectra Greentech Q2 FY25 (Consolidated, YoY)
Revenue up 70.5% to Rs 524 crore versus Rs 307 crore.
Net Profit at Rs 47.7 crore versus Rs 18.6 crore.
Ebitda at Rs 81.2 crore versus Rs 40.5 crore.
Margin at 15.5% versus 13.2%.
Indus Towers Q2 FY25 (Consolidated, YoY)
Revenue up 4.66% at Rs 7,465 crore versus Rs 7,132 crore (Bloomberg estimate Rs 7,587 crore).
Ebitda up 41.98% at Rs 4,907 crore versus Rs 3,456 crore (Bloomberg estimate Rs 4,214 crore).
Ebitda margin up 1,727 bps at 65.73% versus 48.45% (Bloomberg estimate 55.5%).
Net profit up 71.79% at Rs 2,223 crore versus Rs 1,294 crore (Bloomberg estimate Rs 1749 crore).
Choice International Q2 FY25 (Consolidated, YoY)
Revenue up 29.6% to Rs 247 crore versus Rs 191 crore.
Net Profit up 55.3% to Rs 46.5 crore versus Rs 29.9 crore.
Ebitda up 55.88% to Rs 75.8 crore versus Rs 48.7 crore.
Margin at 30.7% versus 25.5%.
ICICI Prudential Life Insurance Company Q2 FY25 (Standalone, YoY)
Net premium income up 7% at Rs 10,754 crore versus Rs 10,022 crore.
Net profit up 3% at Rs 251 crore versus Rs 244 crore (Bloomberg estimate Rs 331 crore).
13th month persistency at 86.6% vs 85.7% (QoQ).
VNB Margin at 23.7% versus 28.8% (YoY).
Can Fin Homes Q2 FY25 (YoY)
Total income up 10.5% at Rs 963 crore vs Rs 871 crore.
Net profit up 33.78% at Rs 211 crore vs Rs 158 crore.
Mahindra And Mahindra Finance Q2 FY25 (Standalone, YoY)
Revenue from operations up 21% at Rs 3,897 crore vs Rs 3,212 crore.
Net profit up 57% at Rs 369 crore vs Rs 235 crore (Bloomberg estimate Rs 473 crore).
Cigniti Technologies Q2 FY25 (Consolidated, QoQ)
Revenue up 6.6% to Rs 499 crore versus Rs 468 crore.
Net Profit at Rs 52.9 crore versus Rs 10.5 crore.
Ebit up 34.2% to Rs 55.5 crore versus Rs 41.4 crore.
Margin at 11.1% versus 8.8%.
Chennai Petroleum Corporation Q2 FY25 (Consolidated, QoQ)
Revenue down 29.2% to Rs 12,086 crore versus Rs 17,095 crore.
Net loss at Rs 634 crore versus Rs 357 crore.
Ebitda down to Rs 675 crore versus Rs 663 crore.
Gujarat Mineral Development Corporation Q2 FY25 (Consolidated, YoY)
Revenue up 54.9% at Rs 593 crore vs Rs 383 crore.
Ebitda at Rs 141 crore vs Rs 52.9 crore.
Margin at 23.8% vs 13.8%.
Net profit up 71.4% at Rs 128 crore vs Rs 74.6 crore.
Responsive Industries Q2 FY25 (Consolidated, YoY)
Revenue up 30.3% at Rs 350 crore versus Rs 268 crore.
Ebitda up 18.6% at Rs 72.5 crore vs Rs 61.1 crore.
Margin at 20.7% vs 22.8%.
Net profit up 21.2% at Rs 49.3 crore vs Rs 40.7 crore.
Earnings in Focus
Aster DM Healthcare, AU Small Finance Bank, Bajaj Finserv, Bajaj Holdings & Investment, Birla Corporation, Birlasoft, CARE Ratings, Craftsman Automation, Dodla Dairy, Fedbank Financial Services, Fino Payments Bank, Godrej Properties, Heritage Foods, Hindustan Unilever, IIFL Finance, Johnson Controls-Hitachi Air Conditioning India, KPIT Technologies, Karnataka Bank, Dr. Lal PathLabs, MAS Financial Services, Metro Brands, Navin Fluorine International, NIIT Learning Systems, Nuvoco Vistas Corporation, Piramal Enterprises, Pidilite Industries, Piramal Pharma, RattanIndia Power, Sagar Cements, SBI Life Insurance, Schaeffler India, Sona BLW Precision Forgings, Syngene International, Thyrocare Technologies, TVS Holdings, TVS Motor Company, United Spirits, and V.I.P. Industries.
Stocks To Watch
Reliance Infrastructure: Reliance Infrastructure's subsidiary, Reliance Defence, would set up the largest integrated project to manufacture explosives, ammunition and small arms in Ratnagiri, Maharashtra. The company will invest over Rs 10,000 crore over the next 10 years in the Ratnagiri Project. The company has already been allotted 1,000 acres of land in Ratnagiri to develop Dhirubhai Ambani defence city.
Reliance Industries: The Competition Commission of India approved the merger of Reliance Industries with Disney after modifications in the deal. One of the conditions includes no billing of TV ad slot sales for IPL, ICC and BCCI cricketing rights till the end of existing rights.
Bharti Airtel: The Competition Commission of India cleared a company proposal to increase its stake in Indus Towers, following a buyback of shares by the telecom infrastructure company.
NHPC: The company incurred loss of Rs 328 crore caused by damage to Teesta-V Power Station due to a landslide.
Dhanlaxmi Bank: The board approved fundraise of up to Rs 300 crore via rights issue.
Firstsource Solutions: The company to build a domain-centric large language model specific to the mortgage process.
Imagicaaworld Entertainment: The company's water park unit at Surat resumes operations, to open in the first week of November.
Choice International: The company unit Choice Finserv to acquire retail lending businesses of Paisabuddy Finance and Sureworth Financial Services.
Sonata Software: The company received a multi-year AI-powered managed services contract.
Power Grid Corporation of India: The company declared a successful bidder for an interstate transmission project from Rajasthan.
IPO Offering
Waaree Energies: The public issue was subscribed to 8.81 times on day 2. Their bids were led by non-institutional investors (24.38 times), retail investors (6.39 times), reserved for employees (3.11 times), and qualified institutional investors (1.73 times).
Deepak Builders & Engineers India: The public issue was subscribed to 12.04 times on day two. Their bids were led by non-institutional investors (17.41 times), retail investors (16 times), and qualified institutional investors (1.08 times).
Godavari Biorefineries: The company will offer its shares for bidding on Wednesday. The price band is set from Rs 334 to Rs 352 per share. The Rs 554.75 crore IPO issue combination of a fresh issue of Rs 325 crore and the rest offer for sale. The company raised 166 crores from anchor investors.
Block deal
Trent: Dodona Holdings sold 11.34 lakh shares (0.31%) at Rs 7,465 apiece, while Siddhartha Yog bought 11.34 lakh shares (0.31%) at Rs 7465 apiece.
Bulk deals
SG Finserve: Dharampal Satyapal Ltd bought 4 lakh shares (0.71%) at Rs 459.99 apiece, while S R Foundation sold 3 lakh shares (0.53%) at Rs 460 apiece.
Orient Cement: Ashika Credit Capital bought 10.5 lakh shares (0.51%) at Rs 353.23 apiece, while Nuvama Multi Asset Strategy Return Fund bought 18.7 lakh shares (0.91%) at Rs 347.94 apiece.
Trading Tweaks
Price band changes from 20% to 10%: Diffusion Engineers.
F&O Cues
Nifty October futures down by 1.06% to 24,538 at a premium 66 points.
Nifty October futures open interest up by 1.7%.
Nifty Bank October futures down by 1.24% to 51,434 at a premium of 177 points.
Nifty Bank October futures open interest up 3.35%.
Nifty Options Oct 24 Expiry: Maximum call open interest at 25,000 and maximum put open interest at 24,000.
Bank Nifty Options Oct 23 Expiry: Maximum call open interest at 52,500 and maximum put open interest at 51,000.
Securities in ban period: Aarti Industries, Bandhan Bank, Birlasoft, Chambal Fertilizers, GNFC, IEX, India Mart Intermesh, L&T Finance, Manappuram Finance, Piramal Enterprise, PNB, RBL Bank.
Money Market
The Indian rupee hit a fresh closing record as it closed little changed against the US dollar on Tuesday on likely dollar selling by the Reserve Bank of India amid the continuous selling of domestic stocks by global funds.
The rupee closed flat at Rs 84.076 against the dollar, according to Bloomberg data. The domestic currency had closed at Rs 84.066 against the greenback on Monday.
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