Stock Market Today: All You Need To Know Going Into Trade On Oct. 24
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Some Asian indices erased opening losses and traded higher at 7:01 a.m., Nikkei was up 0.4%, ASX 200 rose 0.14%, but Kospi traded 0.3% lower after South Korea GDP announcement.
The three main Wall Street indices closed lower amid more corporate results, as S&P 500 was down 0.92% to close at 5,797.42, while tech-heavy Nasdaq Composite also fell 1.60% and ended at 18,276.66.
The 30-stock Dow Jones Industrial Average fell 0.95% and closed at 42,514.95
Brent crude was trading 0.95% higher at $75.67 a barrel as of 6:54 a.m. Gold spot rose 0.4% to $2,725.11 an ounce.
At 7:04 a.m., GIFT Nifty rose to 24,515.50, up 19.5 points, or 0.1%.
The Indian benchmark equity indices fell for the third consecutive day on Wednesday to end at their lowest level since Aug. 14 again amid quarterly earnings releases. The indices saw a volatile session as they gained as much as 0.5% during the day and fell as much as 0.4% as well to finally close a little lower.
The NSE Nifty 50 closed 36.60 points or 0.15%, down at 24,435.50 and the BSE Sensex ended 138.74 points or 0.17%, lower at 80,081.98.
Overseas investors remained net sellers of Indian equities for the 18th consecutive session on Wednesday, while domestic institutional investors stayed net buyers for the 22nd straight session. The FPIs offloaded stocks worth Rs 5.685.7 crore, while domestic institutional investors bought stocks worth Rs 6,039.9 crore, according to provisional data from the National Stock Exchange.
The Indian currency closed flat at 84.083 against the US dollar.
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Trade Setup For Oct. 24: Nifty 50 Resistance Levels Seen At 24,600–24,700, Support At 24,378
Earnings Post Market Hours
Hindustan Unilever Q2 FY25 (Consolidated, YoY)
Revenue up 1.93% at Rs 15926 crore versus Rs 15623 crore (Bloomberg estimate Rs 15,753 crore).
Ebitda down 0.1% at Rs 3793 crore versus Rs 3797 crore (Bloomberg estimate Rs 3728 crore).
Ebitda margin down 48 bps at 23.81% versus 24.3% (Bloomberg estimate 23.7%).
Net profit down 2.33% at Rs 2595 crore versus Rs 2657 crore (Bloomberg estimate Rs 2,693 crore).
AU Small Finance Bank Q2 FY25 (YoY)
NII up 58% at Rs 1,974 crore versus Rs 1,249 crore.
Net Profit up 42.2% at Rs 571 crore versus Rs 402 crore (Bloomberg estimate Rs 496 crore).
Gross NPA 1.98% Vs 1.78% (QoQ).
Net NPA 0.75% Vs 0.63% (QoQ).
Dr. Lal PathLabs Q2 FY25 (YoY)
Revenue rose 9.8% to Rs 660 crore versus 601 crore (Bloomberg estimate: Rs 670 crore).
Ebitda was up 14% to Rs 202.50 crore versus Rs 178 crore (Bloomberg estimate: Rs 195 crore).
Ebitda Margin at 30.7% vs 29.6%. (Bloomberg estimate: 29%).
Net Profit up 18% at Rs 130.80 crore versus 111 crore (Bloomberg Estimate: Rs 125 crore)
Piramal Enterprises Q2 FY25 (Consolidated, YoY)
Total Income up 7.7% at Rs 2,375 crore versus Rs 2,205 crore.
Net Profit at Rs 163 crore versus Rs 48.2 crore (Bloomberg estimate Rs 111 crore).
FedBank Financial Servies Q2 FY25 (YoY)
Total Income rises 30.4% at Rs 519 crore versus Rs 398 crore.
Net Profit rises 11.8% at Rs 65 crore versus Rs 58 crore. (Bloomberg estimate Rs 70 crore).
MAS Financial Services Q2 FY25 (YoY)
Net Profit rises 27.6% at Rs 76.6 crore versus Rs 60 crore.
Total Income rises 23.8% at Rs 367 crore versus Rs 297 crore.
Karnataka Bank Q2 FY25 (Standalone, YoY)
Net Profit up 1.75% at Rs 336 crore versus Rs 330 crore (Bloomberg estimates Rs 299 crore).
Gross NPA At 3.21% Vs 3.54% (QoQ).
Net NPA At 1.46% Vs 1.66% (QoQ).
NII up 1% at Rs 834 crore versus Rs 822 crore.
Bajaj Holding Q2 FY25 (Consolidated, YoY)
Total Income up 22% at Rs 292 crore versus Rs 240 crore.
Net Profit down 5% at Rs 1,510 crore versus Rs 1,588 crore.
Schaeffler India Q2 FY25 (Consolidated, YoY)
Revenue up 14.13% at Rs 2116 crore versus Rs 1854 crore.
Ebitda up 8.06% at Rs 368.3 crore versus Rs 340.8 crore.
Ebitda margin down 97 bps at 17.4% versus 18.38%.
Net profit up 1.28% at Rs 236 crore versus Rs 233 crore.
Fino Payments Bank Q2 FY25 (Consolidated, YoY)
Total Income up 26.74% at Rs 455 crore versus Rs 359 crore.
Net profit up 5% at Rs 21 crore versus Rs 20 crore.
V.I.P. Industries Q2 FY25 (Consolidated, YoY)
Revenue down 0.37% at Rs 544 crore versus Rs 546 crore (Bloomberg estimate Rs 597 crore).
Ebitda loss at Rs 2 crore versus profit of Rs 53 crore (Bloomberg estimate Rs 34 crore).
Net loss at Rs 33 crore versus profit of Rs 13 crore (Bloomberg estimate loss of Rs 1 crore).
Johnson Controls-Hitachi Air Conditioning India Q2 FY25 (Consolidated, YoY)
Revenue up 41.42% at Rs 396 crore versus Rs 280 crore.
Ebitda loss at Rs 8 crore versus loss of Rs 37 crore.
Net loss at Rs 30 crore versus loss of Rs 56 crore.
Thyrocare Technologies Q2 FY25 (Consolidated, YoY)
Revenue up 19.8% to Rs 177.36 crore versus Rs 148.00 crore. (Bloomberg estimate Rs 173 crore)
Ebitda up 29% to Rs 48.29 crore versus Rs 37.52 crore.
Margin at 27.2% versus 25.4%.
Net profit up 30% to Rs 26.42 crore versus Rs 20.33 crore. (Bloomberg estimate Rs 27 crore)
Piramal Pharma Q2 FY25 (Consolidated, YoY)
Revenue up 17% to Rs 2242 crore vs Rs 1911 crore (Bloomberg estimate: Rs 2166 crore).
Ebitda up 29% to Rs 342 crore vs Rs 266 crore (Bloomberg estimate: Rs 284 crore).
Margin at 15.2% vs 13.9% (Bloomberg estimate:13.10 %).
Net profit up 4.6x at Rs 23 crore vs Rs 5 crore (Bloomberg estimate: Rs 31 crore)
Birla Corporation Q2 FY25 (Consolidated, YoY)
Revenue down 14.5% to Rs 1,952.56 crore versus Rs 2,284.34 crore. (Bloomberg estimate Rs 2021 crore).
Ebitda down 39% to Rs 177.20 crore versus Rs 288.85 crore. (Bloomberg estimate Rs 184 crore).
Margin at 9.1% versus 12.6%. (Bloomberg estimate 9.1%).
Net loss at Rs 25.19 crore versus profit of Rs 58.37 crore. (Bloomberg estimate net loss Rs 22 crore).
Sona BLW Precision Forgings Q2 FY25 (Consolidated, YoY)
Revenue rises 17% at Rs 922 crore versus Rs 787.4 crore. (Bloomberg estimates Rs 894 crore).
Ebitda rose 14.5% at Rs 252crore versus Rs 220 crore. (Bloomberg estimates Rs 249 crore).
Margin At 27.3% versus 27.9%. (Bloomberg estimates 27.9%).
Net Profit rises 15.7% At Rs 144 crore versus Rs 124 crore. (Bloomberg estimates Rs 142 crore).
Navin Fluorine International Q2 FY25 (Consolidated, YoY)
Revenue rises 9.9% at Rs 519 crore versus Rs 472 crore. (Bloomberg estimate Rs 547 crore).
Ebitda rises 9.2% at Rs 107 crore versus Rs 98.3 crore. (Bloomberg estimate Rs 108 crore).
Margin at 20.7% versus 20.8%. (Bloomberg estimate 19.8%).
Net profit down 2.9% At Rs 58.8 crore versus Rs 60.6 crore (Bloomberg estimate Rs 56 crore).
The company declared an interim dividend of Rs 5 per share.
Birlasoft Q2 FY25 (Consolidated, QoQ)
Revenue up 3.08% at Rs 1,368 crore versus Rs 1,327 crore (Bloomberg estimate Rs 1368 crore).
EBIT down 17.81% at Rs 143 crore versus Rs 174 crore (Bloomberg estimate Rs 173 crore).
EBIT margin down 265 bps at 10.45% versus 13.11% (Bloomberg estimate 12.7%).
Net profit down 14.66% at Rs 128 crore versus Rs 150 crore (Bloomberg estimate Rs 146 crore).
RattanIndia Power Q2 FY25 (Consolidated, YoY)
Revenue down 14.3% to Rs 682.43 crore versus Rs 796.39 crore.
Ebitda down 16% to Rs 93.94 crore versus Rs 111.40 crore.
Margin at 13.8% versus 14.0%.
Net loss at Rs 1.35 crore versus loss of Rs 632.67 crore.
CARE Ratings Q2 FY25 (Consolidated, QoQ)
Total income rises 42.3% at Rs 129 crore versus Rs 90.8 crore.
Net profit at Rs 46.9 crore versus Rs 21.4 crore.
United Spirits Q2 FY25 (Consolidated, YoY)
Revenue down 1% to Rs 2,844 crore versus Rs 2,869 crore. (Bloomberg estimate Rs 3,043 crore).
Ebitda up 7% to Rs 502.00 crore versus Rs 468.00 crore.
Margin at 17.7% versus 16.3%.
Net Profit up 0.6% to Rs 341 crore versus Rs 339 crore. (Bloomberg estimate Rs 316 crore).
Sagar Cements Q2 FY25 (Consolidated, YoY)
Revenue down 19.0% to Rs 475.12 crore versus Rs 586.82 crore.
Ebitda down 67% to Rs 19.93 crore versus Rs 60.22 crore.
Margin at 4.2% versus 10.3%.
Net loss at Rs 56.98 crore versus loss of Rs 10.85 crore.
Nuvoco Vistas Corporation Q2 FY25 (Consolidated, YoY)
Revenue down 11.8% to Rs 2,268.58 crore versus Rs 2,572.97 crore.
Ebitda down 34% to Rs 218.76 crore versus Rs 329.95 crore.
Margin at 9.6% versus 12.8%.
Net loss at Rs 85.17 crore versus profit of Rs 1.53 crore.
Pidilite Industries Q2 FY25 (Consolidated, YoY)
Revenue up 5.2% to Rs 3,234.91 crore versus Rs 3,076.04 crore. (Bloomberg estimate Rs 3,282 crore).
Ebitda up 13% to Rs 768.81 crore versus Rs 679.71 crore (Bloomberg estimates Rs 765 crore).
Margin at 23.8% versus 22.1% (Bloomberg estimates 23.3%).
Net profit up 18% to Rs 540.30 crore versus Rs 458.53 crore. (Bloomberg estimates Rs 534 crore)
IIFL Finance Q2 FY25 (Consolidated, YoY)
Total income rises 1.62% at Rs 2,577 crore versus Rs 2,536 crore.
Net loss at Rs 93 crore versus profit of Rs 526 crore.
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Earnings in Focus
Aarti Drugs, ACC, Apcotex Industries, Adani Total Gas, Adani Wilmar, Bikaji Foods International, CASTROL INDIA, Chalet Hotels, CIE Automotive India, COLGATE-PALMOLIVE (INDIA),Coromandel International, CSB Bank, Cyient, DCB Bank, Dixon Technologies (India), Finolex Industries, Glenmark Life Sciences, GMR Airports Infrastructure, Go Digit General Insurance, Godrej Consumer Products, Home First Finance Company India, Indian Energy Exchange, Indoco Remedies, IndusInd Bank, ITC, Le Travenues Technology, JSW Energy, Laurus Labs, LT Foods, Mahanagar Gas, Nippon Life India Asset Management, NTPC, Oracle Financial Services Software, Patanjali Foods, Petronet, PNB GILTS, PNB Housing Finance, Radico Khaitan, Ramkrishna Forgings, R R Kabel, Sanghi Industries, Strides Pharma Science, Transport Corporation Of India, Tata Teleservices (Maharashtra), United Breweries, and Ujjivan Small Finance Bank.
Stocks To Watch
GRM Overseas: The company expanded its global presence through a pact with Solariz Invest in Chile. Solariz Invest to be the exclusive distributor of its products in Chile.
Escorts Kubota, Sona BLW Precision Forgings: The company has a pact with Sona BLW to transfer the railway equipment business division for Rs 1,600 crore.
KEC International: The company received new orders worth Rs 1,142 crore across various businesses.
Emkay Global Financial Services: The board will meet on Oct. 28 to consider raising Rs 100 crore via NCDs.
Power Grid Corporation of India: The company approved an investment worth Rs 284 crore in the Rajasthan Transmission System Project.
Hindustan Unilever: The company to separate its ice cream business to sharpen focus on the core business. The mode of separation is to be decided by year-end.
State Bank of India: The company signed a €150 million Line of Credit with the German Development Bank KfW Line of Credit with KfW to finance climate-friendly energy generation projects.
TVS Holdings: The company approved increasing limits of borrowing by directors of the company for a sum of up to Rs 5,000 crore.
Signatureglobal: The company is to sell its property in Haryana State Industrial Infrastructure Development Corp for Rs 25.5 crore.
Rites: The company entered a MoU with NMDC for rail connectivity works.
Infosys: The company partnered with Meta for innovation in generative AI through open-source initiatives.
Lemon Tree: The company signed a license agreement for a 60-room hotel in Aurangabad, Maharashtra.
Eris Lifesciences: The company acquired a 100% stake in step-down subsidiary Eris Pharmaceuticals.
Inox Wind: The company signed a pact to sell arm Waft Energy to unit Resco Global Wind Services.
Mahindra and Mahindra: The company inaugurated 2 development test facilities in Chennai with an investment of over Rs 300 crore.
IPO Offering
Waaree Energies: The public issue was subscribed to 76.34 times on the final day. The bids were led by qualified institutional investors (208.6 times), non-institutional investors (62.49 times), retail investors (10.79 times) and reserved for employees (5.17 times).
Deepak Builders & Engineers India: The public issue was subscribed to 41.5 times on the final day. The bids were led by non-institutional investors (82.47 times), retail investors (39.79 times) and qualified institutional investors (13.91 times).
Godavari Biorefineries: The public issue was subscribed to 0.27 times on day 1. There were no bids by qualified institutional investors, while non-institutional investors (0.12 times) and retail investors (0.48 times) led the bids.
Bulk Deals
Cigniti Technologies: Societe Generale bought 2.27 lakh shares (0.83%) at Rs 1423.15 apiece.
Crest Ventures: Capri Global Holdings bought 1.5 lakh shares (0.52%) at Rs 470 apiece.
Trading Tweaks
Moved out short-term ASM: Ganesh Housing Corporation, Integrated Personnel Services, Neogen Chemicals, Nalwa Sons Investments, Phoenix Overseas, Skipper, and Usha Martin.
F&O Cues
Nifty October futures down by 0.21% to 24,487 at a premium 52 points.
Nifty October futures open interest down by 1.7%.
Nifty Bank October futures down by 0.14% to 51,352 at a premium of 113 points.
Nifty Bank October futures open interest down 6.5%.
Nifty Options Oct. 24 Expiry: Maximum call open interest at 25,000 and maximum put open interest at 24,000.
Bank Nifty Options Oct. 30 Expiry: Maximum call open interest at 62,000 and maximum put open interest at 51,000.
Securities in ban period: Aarti Industries, Bandhan Bank, Birlasoft, GNFC, IEX, India Mart Intermesh, Manappuram Finance, NMDC, Piramal Enterprises, RBL Bank.
Money Market
The Indian rupee closed at a record closing low against the US dollar on Wednesday as the greenback strengthened globally.
The local currency ended at Rs 84.082 as compared to the previous day's close of Rs 84.076; intraday, it weakened to an all-time low of Rs 84.085.
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