Stocks To Watch: NDTV, Biocon, Fusion MicroFinance, ONGC, Rajesh Exports, IRCTC, SpiceJet, NMDC
Stocks to watch before going into trade today.
Asian stocks opened slightly higher Tuesday amid fragile sentiment following a choppy session on Wall Street and ahead of a slew of Chinese economic data.
West Texas Intermediate crude benchmark fell 3.3% to $86.06 per barrel, while gold rose 0.2%. Bitcoin rose 1.2% to $16,600-level as optimism returned to the volatile market on plans of Binance Holdings to form a recovery fund to mitigate headwinds from the FTX meltdown.
Back home, Indian benchmarks indices Sensex and Nifty closed lower, dragged by losses in FMCG, power, utilities and capital goods stocks.
Rupee wiped early gains against the U.S. dollar, dropping 0.54% against the greenback.
At 6:40 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- rose 0.15% to 18,405.5.
Stocks To Watch:
Larsen & Toubro/L&T Infotech/Mindtree: The conglomerate secured NCLT approval to merge its software units—L&T Infotech and Mindtree—with effect from Nov. 14 to form the merged entity LTIMindtree. L&T Infotech appointed Debashis Chatterjee as CEO and MD, and Vinit Teredesai as CFO.
Thomas Cook (India): The company signed a long-term agreement with KrisFlyer, the loyalty programme of Singapore Airlines, becoming the first forex partner on the platform.
Life Insurance Corporation of India: The insurer diluted its shareholding in Adani Ports and Special Economic Zone to 9.35% from 11.37%.
Biocon: The board approved proposals to raise funds through issuance of non-convertible debentures worth $250 million (Rs 2,024.61 crore) and commercial papers worth $275 million (Rs 2,227.07 crore).
Adani Ports and Special Economic Zone: The company floated a joint venture, Mediterranean International Ports ADGD Ltd., with Israel-based Gadot Group to acquire Haifa Port Company, which operates the Haifa Port in the country.
Adani Enterprises/NDTV: Market regulator SEBI has given its final approval to the company’s open offer for 26% stake of NDTV.
Zomato: Rahul Ganjoo, head of new initiatives at the company, resigned from his post.
Offerings
Kaynes Technology India: The issue was subscribed 34.16 times on the final day. Institutional investors placed bids for 98.47 times the portion reserved for them, while the non-institutional investors portion was subscribed 21.21 times. The retail portion was subscribed 4.1 times, and basket reserved for employees was subscribed 11.92 times.
Inox Green Energy: The IPO was subscribed 85% on its second day. Subscription for the QIB portion remained at 47%. The non-institutional investors placed bid for 23% of their basket. The retail portion was subscribed 2.93 times.
Keystone Realtors: The maiden share sale received bids for 8% of the overall issue size. Non-institutional investors placed bids for 11% of their portion, while retail investors subscribed 12% of their basket. No bids were placed for the QIB portion.
Listing
Fusion MicroFinance: The shares of the company will be listed on the BSE and National Stock Exchange on Nov. 15 at an issue price of Rs 368 apiece, with a face value of Rs 10 each. The IPO, which ran from Nov. 2-4, was subscribed 2.95 times. The QIB portion was subscribed 8.59 times, while the non-institutional investors basket was subscribed 1.38 times. The retail portion was subscribed 51%.
Earnings
Rajesh Exports
Bulk Deals
HBL Power Systems: Oman India Joint Investment Fund sold 40.28 lakh shares (1.45%) at Rs 98.16 apiece.
PB Fintech: WF Asian Reconnaissance Fund bought 50 lakh shares (1.11%) at Rs 388 apiece, Tiger Global Eight Holdings sold 79.98 lakh shares (1.78%) at Rs 389.44 apiece, Internet Fund III Pte. Ltd. sold 54.19 lakh shares (1.2%) at Rs 389.38 apiece.
Earnings Post Market Hours
Biocon Q2 FY23 (Consolidated, YoY)
Revenue up 26% at Rs 2,320 crore Vs Rs 1,840 crore (Bloomberg estimate: Rs 2,305 crore)
EBITDA up 6% to Rs 471 crore from Rs 446 crore (Bloomberg estimate: Rs 485 crore)
EBITDA margins at 20.3% Vs 24.2% (Bloomberg estimate: 21%)
Net profit down 66% to Rs 47 crore Vs Rs 138 crore (Bloomberg estimate: Rs 173 crore)
NMDC Q2 FY23 (Consolidated, YoY)
Revenue fell 51% at Rs 3,328 crore Vs Rs 6,794 crore
EBITDA fell 73% at Rs 851.16 crore Vs Rs 3112.51 crore
EBITDA margin 25% Vs 46%
Net profit fell 62% at Rs 885.65 crore Vs Rs 2,339.58 crore
Apollo Tyres Q2 FY23 (Consolidated, YoY)
Revenue up 17% at Rs 5,956 crore Vs Rs 5,077 crore
EBITDA up 11% at Rs 712.01 crore Vs Rs 638 crore
EBITDA margin 12% Vs 12.6%
Net profit up 12% at Rs 194.45 crore Vs Rs 173.81 crore
SpiceJet Q2 FY23 (Consolidated, YoY)
Revenues up 45% at Rs 1,954.5 crore Vs Rs 1,345.4 crore
EBIDTA loss widens to Rs 555.3 crore Vs Rs 301.3 crore
Net loss widens to Rs 833 crore from 570.6 crore
ONGC Q2 FY23 (Consolidated, QoQ)
Revenue fell 8% at Rs 1,68,656 crore Vs Rs 1,82,894 crore
EBITDA fell 27% at Rs 13,804.44 crore Vs Rs 18,855.01 crore
EBITDA margin 8% Vs 10%
Net profit fell 30% at Rs 8,299.37 crore Vs Rs 11,936.64 crore
GMR Airports Infra Q2 FY23 (Consolidated, YoY)
Revenue up 10% at Rs 1,588 crore Vs Rs 1,444 crore
EBITDA up 10% at Rs 472.74 crore Vs Rs 428.48 crore
EBITDA margin flat at 30%
Net loss at Rs 195.02 crore Vs Rs 112.99 crore
Balkrishna Q2 FY23 (Consolidated, YoY)
Revenue up 23% at Rs 2,658 crore Vs Rs 2,072 crore
EBITDA fell 20% at Rs 426.26 crore Vs Rs 537.85 crore
EBITDA margin 16% Vs 25%
Net profit fell 2% at Rs 382.26 crore Vs Rs 391.03 crore
Aarti Industries Q2 FY23 (Consolidated, YoY)
Revenue up 34% at Rs 1,685 crore Vs Rs 1,256 crore
EBITDA up 5% at Rs 267.01 crore Vs Rs 254.87 crore
EBITDA margin 16% Vs 20%
Net profit fell 17% at Rs 124.48 crore Vs Rs 149.95 crore
IRCTC Q2 FY23 (Consolidated, QoQ)
Revenue fell 5% at Rs 806 crore Vs Rs 853 crore
EBITDA fell 5% at Rs 304.86 crore Vs Rs 320.94 crore
EBITDA margin flat at 38%
Net profit fell 8% at Rs 226.03 crore Vs Rs 245.52 crore
Who’s Meeting Whom
KPI Green Energy: To meet investors and analysts on Nov. 15.
Blue Star: To meet investors and analysts on Nov. 15 and Nov. 17.
PCBL: To meet investors and analysts on Nov. 15 and Nov. 16.
Power Mech Projects: To meet investors and analysts on Nov. 15.
Aptech: To meet investors and analysts on Nov. 17.
Maharashtra Seamless: To meet investors and analysts on Nov. 21 and Nov. 22.
GMR Airports Infrastructure: To meet investors and analysts on Nov. 15.
IOL Chemicals & Pharmaceuticals: To meet investors and analysts on Nov. 15.
Adani Green Energy: To meet investors and analysts on Nov. 21, Nov. 22 and Nov. 29.
Shriram City Union Finance: To meet investors and analysts on Nov. 15.
Capri Global Capital: To meet investors and analysts on Nov. 15.
PB Fintech: To meet investors and analysts on Nov. 15.
BCL Industries: To meet investors and analysts on Nov. 17.
EID-Parry (India): To meet investors and analysts on Nov. 15.
Motherson Sumi Wiring India: To meet investors and analysts on Nov. 15.
Clean Science and Technology: To meet investors and analysts on Nov. 15 and Nov. 18.
Trading Tweaks
Ex-Date Interim Dividend: Aegis Logistics, Coal India, Amara Raja Batteries, Gloster
Ex-Date Annual General Meeting: Procter & Gamble Health
Ex-Date Dividend: Procter & Gamble Health
Ex-Date Bonus: Modis Navnirman
Record-Date Interim Dividend: Power Grid Corporation of India, EPL, SMC Global Securities, Amrutanjan Health Care, Jamna Auto Industries
Insider Trades
Chambal Fertilisers & Chemicals: Promoter Group Ronson Traders bought 56,000 shares between Nov. 9 and Nov. 10.
S&T Corporation: Promoter & Director Dhaval Ajay Savai bought 10,000 shares on Nov. 10 and sold 21,371 shares between Nov. 10 and Nov. 11.
KDDL: Promoter & Director Yashovardhan Saboo bought 20,000 shares on Nov. 11.
Geojit Financial Services: Promoter BNP Paribas SA sold 1.64 lakh shares between Nov. 10 and Nov. 11.
Gati: Promoter Group Jubilee Commercial and Trading sold 30,000 shares on Nov. 9.
Pledge Share Details
Chambal Fertilisers & Chemicals: Promoter Zuari Industries created a pledge of 9 lakh shares on Nov. 10.
