KEY HIGHLIGHTS
Closing Bell: Sensex Extends Record Run; Nifty Ends Above 12,000 For The First Time In Four Months
Indian equity benchmark—S&P BSE Sensex—ended at a fresh record high.
The 31-stock index rose 0.45 percent to close at a new all-time high at 40,653.74. The NSE Nifty 50 rose 0.42 percent to end above 12,000 for the first time in over four months. The broader markets represented by the NSE Nifty 500 Index rose 0.44 percent.
The market breadth was tilted in favour of buyers. About 943 stocks advanced and 845 shares declined on National Stock Exchange.
Nine out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty Metal Index’s 1.09 percent gain. On the flipside, the NSE Nifty PSU Bank index was the top sectoral loser, down 1.5 percent.
Large Trade Alert: Aditya Birla Capital
About 21 lakh shares of Aditya Birla Capital changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
Fab Four Stocks Of The Day
IPCA Laboratories
- Stock rose as much as 9.3 percent to Rs 1,105
- Strong operational quarter aided by exports
- Revenue up 26.9 percent to Rs 1,283.9 crore.
- Net profit up 63.3 percent to Rs 193.5 crore.
- Ebitda up 52.4 percent to Rs 265.8 crore.
- Margin at 20.7 percent versus 17.2 percent.
- India Formulations up income up 16 percent to Rs 5,433 crore.
- Exports up 27 percent to Rs 588 crore.
UCO Bank
- Stock rose as much as 12.7 percent to Rs 15.50.
- Asset quality improves in September quarter.
- Net interest income up 16.6 percent to Rs 1,020 crore.
- GNPA at 21.87 percent versus 24.85 percent (QoQ)
- NNPA at 7.32 percent versus 8.98 percent (QoQ)
NBCC
- Shares of NBCC rose as much as 19.3 percent, the most in over five years, to Rs 45.80.
- The Union Cabinet has approved setting up a dedicated fund for funding affordable and middle-income housing projects that are stalled, Finance Minister Nirmala Sitharaman said.
Max Financial Services
- Fresh longs seen with high OI 67 percent
- Stock rose as much as 8.8 percent to Rs 477.45.
- Trading volume was almost 11 times its 20-day average.
UPL Falls 4% After Q2 Results Announcement
Shares of UPL fell as much as 3.9 percent to Rs 582.85 after the company announced September quarter results.
Key Earnings Highlights (Q2, YoY)
- Revenue up 84 percent to Rs 7,817 crore.
- Net profit down 67 percent to Rs 89 crore.
- Ebitda up 83 percent to Rs 1,539 crore.
- Margin flat at 19.7 percent.
- Exceptional loss of Rs 305 crore in the current quarter.
Sun Pharma Gains 3% On Q2 Results
Shares of Sun Pharma rose as much as 3.3 percent to Rs 441.85 after the company announced September quarter results.
Key Earnings Highlights (Q2, YoY)
- Revenue up 17.1 percent to Rs 8123.4 crore.
- Net profit at Rs 1167.4 crore versus net loss of Rs 157.8 crore.
- Ebitda up 16.7 percent to Rs 1789.8 crore.
- Margin at 22 percent versus 22.1 percent.
Stocks Moving On Heavy Volumes
Max Financial Services
- Stock rose as much as 8.8 percent to Rs 477.45.
- Trading volume was almost 11 times its 20-day average.
UCO Bank
- Stock rose as much as 12.7 percent to Rs 15.50.
- Trading volume was more than 11 times its 20-day average.
JM Financial
- Stock rose as much as 10.8 percent to Rs 90.80.
- Trading volume was seven times its 20-day average.
BASF India
- Stock fell as much as 3.3 percent to Rs 971.
- Trading volume was five times its 20-day average.
Avanti Feeds
- Stock rose as much as 9.7 percent to Rs 535.
- Trading volume was more than seven times its 20-day average.
HPCL Falls After Q2 Results
Shares of Hindustan petroleum Corporation Ltd. fell as much as 2.3 percent to Rs 306.60 after the company announced September quarter results.
Key Earnings Highlights (Q2, QoQ)
- Net profit up 29.76 percent to Rs 1,052.
- Revenue down 14.3 percent to Rs 60,863 crore.
- Ebitda up 41.06 percent to Rs 2,319 crore.
- Margin at 3.81 percent versus 2.32 percent.
- H1 GRM at $1.87 per barrel versus $5.93 per barrel.
Global Markets Update: U.S. Futures Jump
U.S. and European stock futures jumped as America and China agreed to proportionally roll back tariffs on each other’s goods.
- Futures on the S&P 500 Index advanced 0.5 percent.
- The Shanghai Composite Index was little changed.
- The MSCI Emerging Market Index increased 0.1 percent.
Get your daily fix of global markets here.
Source: Bloomberg
Market Check: Sensex, Nifty Regain Momentum
Indian equity benchmarks regained momentum after a volatile session during the mid-day trade.
The S&P BSE Sensex rose 0.27 percent to 40,581 as of 1:30 p.m. and the NSE Nifty 50 rose 0.21 percent to 11,990. The broader markets represented by the NSE Nifty 500 Index rose 0.29 percent.
Apex Frozen Food Hits 20% Upper Circuit On Heavy Volumes
Shares of Apex Frozen Food hit an upper circuit of 20 percent at Rs 279.75, the highest in nearly five months.
Trading volume was 30 times its 20-day average, Bloomberg data showed. Of the shares traded, 45 percent were at the ask price and 27 percent were at the bid.
Raymond Extends Gain, Shares Surge 8%
Shares of Raymond extended gains for the second consecutive trading session. The stock rose as much as 7.98 percent to Rs 678, the highest since July 29.
Trading volume was almost six times its 20-day average, according to Bloomberg data. The Relative Strength Index was above 70, indicating that the stock may be overbought.
Jindal Steel & Power Jumps After Kotak Securities Upgrades Stock Rating
Shares of Jindal Steel & Power rose as much as 9.7 percent to Rs 147.75, the highest since July 13.
Brokerage and research firm Kotak Securities upgraded the stock rating to ‘Buy’ from ‘Reduce’ with a price target at Rs 170, implying a potential upside of 23 percent from the previous closing price.
Trading in the company's call options totalled 10,487 contracts, compared with the average of 4,655 over the past 20 days, Bloomberg data showed. Trading in the company's put options totalled 5,739 contracts, compared with the average of 2,128 over the same period.
NMDC Halts Two-Day Gaining Streak, Shares Fall The Most In Over Two Months
Shares of NMDC halted their two-day gaining streak. The stock fell as much as 6.6 percent, the most since Aug. 22, to Rs 106.
The stock returned 15.7 percent so far this year and declined 1 percent in the past 12 months.
Federal-Mogul Goetze Jumps The Most In Eight Months
Shares of Federal-Mogul Goetze India rose as much as 11.9 percent, the most since March 08, to Rs 606.
Trading volume was almost 80 times its 20-day average, Bloomberg data showed. The stock advanced 9.1 percent in the past five days and rallied 12 percent in the past 30 days.
The scrip returned 44 percent in the past 12 months compared to a 15 percent gain in Sensex, according to Bloomberg data.
Large Trade Alert: Hindalco Industries
About 10.9 lakh shares of Hindalco Industries changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
From Bloomberg: Qatar Airways ‘Very Keen’ To Pick Up Stake In IndiGo, Al Baker Says
Qatar Airways CEO Akbar Al Baker says:
- Won’t comment further on plans to buy stake in IndiGo because there are some “internal issues” at the Indian carrier.
- IndiGo, Qatar Airways wish to expand codeshare pact to all Indian destinations where IndiGo operates.
- Qatar Airways wants to offer more flights, frequencies and routes to India.
Source: Bloomberg
Market Check: Sensex, Nifty Erase Gains
Indian equity benchmarks erased morning gains
The S&P BSE Sensex and the NSE Nifty 50 traded little changed at 40,463 and 11,957 respectively as of 12:32 p.m.
Sectoral Indices Check: Nifty Realty Best NSE Sectoral Performer
Six out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Realty index’s 1.09 percent gain. On the flipside, the NSE Nifty Auto Index was the top sectoral loser, down 0.76 percent.
F&O Check: Nifty 12,000 Call Option Contract Falls 41%
Nifty’s 12,000 call option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the contract, which is set to expire today, fell 40.96 percent to Rs 15.35. Over 25.87 lakh shares were added to the open interest which stood at over 51.62 lakh shares.
Large Trade Alert: Fortis Healthcare
About 66.2 lakh shares of Fortis Healthcare changed hands in two large trades, Bloomberg data showed. Buyers and sellers were not known immediately.
Stocks Reacting To Results Announcement
Tata Steel (Q2, YoY)
- Stock fell as much as 2.8 percent to Rs 393.10.
- Revenue fell 15.4 percent to Rs 34,579.2 crore.
- Net profit rose 15.9 percent to Rs 41,44.7 crore.
- Ebitda fell 56.6 percent to Rs 3,819.6 crore.
- Margin stood at 11 percent versus 21.5 percent.
Brigade Enterprises (Q2, YoY)
- Stock rose as much as 3.4 percent to Rs 212.50.
- Revenue fell 11 percent to Rs 735.3 crore.
- Net profit fell 45.2 percent to Rs 37.4 crore.
- Ebitda fell 13 percent to Rs 190.3 crore.
- Margin stood at 25.9 percent versus 26.5 percent.
Voltas (Q2, YoY)
- Stock rose as much as 1.3 percent to Rs 681.50.
- Revenue flat to Rs 1,421.9 crore.
- Net profit rose 2.8 percent to Rs 106.4 crore.
- Ebitda fell 2.5 percent to Rs 105.9 crore.
- Margin at 7.4 percent versus 7.6 percent.
- Other income rose 57 percent to Rs 72.6 crore.
- Employee expenses fell 9 percent to Rs 157.6 crore.
V-Guard Industries (Q2, YoY)
- Stock rose as much as 4.6 percent to Rs 254.60.
- Revenue rose 3.6 percent to Rs 619.3 crore.
- Net profit rose 50 percent to Rs 57.3 crore.
- Ebitda rose 55.3 percent to Rs 77.5 crore.
- Margin stood at 12.5 percent versus 8.4 percent.
- Employee expenses fell 11 percent to Rs 45 crore versus Rs 50.6 crore due to write back of ESOPS.
Fortis Healthcare (Q2, YoY)
- Stock rose as much as 3.7 percent to Rs 152.20.
- Revenue rose 6.3 percent to Rs 1,212.2 crore.
- Net profit at Rs 111 crore versus net loss of Rs 166.7 crore.
- Ebitda rose 2.9 times to Rs 184.5 crore versus Rs 64.1 crore.
- Margin stood at 15.2 percent versus 5.6 percent.
- Finance cost fell 42 percent to Rs 49.2 crore.
BSE (Q2, YoY)
- Stock fell as much as 2 percent to Rs 526.10.
- Revenue fell 5.5 percent to Rs 108.9 crore.
- Net profit fell 20 percent to Rs 36.7 crore.
- Ebitda loss at Rs 12.4 crore versus ebitda Gain at Rs 6.6 crore.
- Investment income rose 7 percent to Rs 45.1 crore versus Rs 42.2 crore.
- Employee expenses rose 14 percent to Rs 39.2 crore.
Manappuram Finance (Q2, YoY)
- Stock rose as much as 3.1 percent to Rs 172.80.
- Net interest income rose 21.6 percent to Rs 819.6 crore.
- Net profit rose 81.9 percent to Rs 404.1 crore.
- Board approves establishment of term note program to raise rose to $750 million.
Max Financial Services (Q2, YoY)
- Stock rose as much as 4 percent to Rs 456.25.
- Revenue rose 8 percent to Rs 4,658.9 crore.
- Net profit fell 49.1 percent to Rs 42.1 crore.
- New business premiums rose 22 percent to Rs 1,730 crore versus Rs 1,420 crore. (H1 FY20 versus H1 FY19)
- New Business Margin at 21 percent versus 20.4 percent. (H1 FY20 versus H1 FY19)
Prataap Snacks (Q2, YoY)
- Stock rose as much as 5.2 percent to Rs 989.
- Revenue rose 35.1 percent to Rs 388 crore.
- Net profit rose 6.2 percent to Rs 12 crore.
- Ebitda rose 44.7 percent at Rs 31.1 crore versus Rs 21.5 crore.
- Margin stood at 8 percent versus 7.5 percent.
MAS Financial Services (Q2, YoY)
- Stock rose as much as 2.1 percent to Rs 729.
- Net interest income rose 10.6 percent to Rs 98.2 crore.
- Net profit rose 34.8 percent to Rs 47.3 crore.
Indiabulls Housing Finance Jumps Over 19% Fundraising Plans
Shares of the housing finance company rose as much as 19.6 percent to Rs 262.40.
The company’s board approved issue of redeemable non-convertible debentures of up to Rs 10,000 crore and also approved the issue of NCDs along with warrants via qualified institutional placement up to $1 billion.
Trading volume was almost four times its 20-day average, Bloomberg data showed. Of the shares traded, 43 percent were at the ask price ad 40 percent were at the bid.
Besides, the company announced its September quarter results.
Key Earnings Highlights (Q2, YoY)
- Net interest income fell 26.3 percent to Rs 1252.38 crore.
- Net profit fell 32 percent to Rs 709.52 crore.
- Impairment of financial instruments Rs 237 crore versus Rs 40 crore.
- Gross non-performing assets at 1.51 percent versus 1.47 percent Quarter-on-Quarter.
- Net NPAs at 1.07 percent versus 1.1 percent QoQ.
Large Trade Alert: Bharti Infratel
About 28 lakh shares of Bharti Infratel changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
NBCC Jumps 19% As Government Approves Fund For Stalled Housing Projects
Shares of NBCC rose as much as 19.3 percent, the most in over five years, to Rs 45.80.
The Union Cabinet has approved setting up a dedicated fund for funding affordable and middle-income housing projects that are stalled, Finance Minister Nirmala Sitharaman said.
The special window will be structured as an alternative investment fund which will pool all investments, where the government will put Rs 10,000 crore.
Besides, institutions like State Bank of India and Life Insurance Corporation among others will make further contributions. The corpus, for now, will be Rs 25,000 crore.
Trading volume was more than 30 times its 20-day average, Bloomberg data showed. The stock traded at 20 times its estimated earnings per share for the coming year.
Opening Bell: Sensex Opens At Fresh Record High; Nifty Tests 12,000
Indian equity benchmark—S&P BSE Sensex—opened at fresh record high.
The 31-stock index rose much as 0.46 percent to hit an all-time high at 40,656.56. The NSE Nifty 50 rose 0.28 percent to trade near 12,000. The broader markets represented by the NSE Nifty 500 Index rose 0.34 percent.
The market breadth was tilted in favour of buyers. About 930 stocks advanced and 466 shares declined on National Stock Exchange.
Ten out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Realty Index’s 2.3 percent gain. On the flipside, the NSE Nifty Auto Index was the only sectoral loser, down 0.15 percent.
Your Complete F&O Trade Setup
Index Futures
- Nifty November futures closed at 12,008, premium of 42 points versus 38.8 points.
- Nifty November Futures open interest up 4 percent, adds 6.4 lakh shares in open interest.
- Nifty Bank November futures closed at 30,682.6, premium of 73 points versus 74.3 points.
- Nifty Bank November futures series open interest up 19 percent, adds 2.1 lakh shares in open interest.
Options
- Nifty PCR at 1.44 versus 1.34 (across all series).
Nifty Weekly Expiry: Nov. 7
- Max open interest on call side at 12,000 (25.7 lakh shares).
- Max open interest on put side at 11,900 (25.1 lakh shares).
- open interest addition seen at 11,950P (+10 lakh shares), 12,000P (+7.1 lakh shares), 12.050 (+6.5 lakh shares).
Nifty Monthly Expiry: Nov. 28
- Max open interest on call side at 12,000 (17.9 lakh shares).
- Max open interest on put side at 11,600 (19 lakh shares).
BQ Heads-Up: insider Trading
- Zensar Technologies promoter group RPG Ventures acquired 42,000 shares on Nov. 4
- Mold-Tek Packaging promoters sold 70,000 shares from Oct. 30-Nov. 5
Trading Tweaks: Arshiya, GVK Power, LKP Securities, Reliance Power
- Indiabulls Integrated Services, SORIL Infra Resources, SPML Infra, GVK Power & Infrastructure to move into short term ASM Framework.
- Arshiya, Ganesh Benzoplast to move out of short term ASM Framework.
- KSK Energy Ventures, Hilton Metal Forging, Orissa Minerals Development price band revised to 10 percent.
- LKP Securities, Reliance Power price band revised to 5 percent.
Money Market Update: Rupee Opens Lower
The Indian rupee opened lower against the U.S. dollar. The home currency depreciated as much as 0.17 percent to 71.11 against the greenback.
Pre-Market Check: Sensex, Nifty Set For Positive Start
Indian equity benchmarks are set to open higher
The S&P BSE Sensex rose 0.25 percent to 40,571 during the pre-market trade and the NSE Nifty 50 rose 1.11 percent to 12,093.
BQ Heads-Up: How ADRs Fared Overnight
Stocks To Watch: Realty Stocks, SBI, Yes Bank
- Yes Bank: Moody's Investors Service has placed the Bank’s foreign currency issuer rating of ‘Ba3’ under review for downgrade. Moody's estimates that Yes Bank's total pool of stressed assets is at 12 percent of loans and investments as of Sept 30 2019. The ratings agency also stated that review for the downgrade is due to the Bank’s weak financial performance for the September quarter and bank’s capital raising announcement of $1.2 billion from a financial investor on Oct. 31.
- The National Company Law Tribunal Mumbai has approved merger of GSK Consumer Healthcare and Hindustan Unilever Ltd.
- Realty Stocks, SBI: Finance Minister Nirmala Sitharaman announced that the Union Cabinet has approved setting up a dedicated fund for funding affordable and middle-income housing projects that are stalled. The special window will be structured as an alternative investment fund which will pool all investments, where the government will put Rs 10,000 crore. Institutions like State Bank of India and Life Insurance Corporation among others will make further contributions. The corpus, for now, will be Rs 25,000 crore.
- Infosys said that it has received letters from NSE, BSE, National Financial Reporting Authority and Registrar Of Companies (Karnataka) in relation to the anonymous whistleblower complaints.
- Adani Group: Bombay High Court has denied interim relief to Adani Group in the Mumbai Airport stake sale dispute. Group had moved the high court seeking directions against Bidvest to restrain it from transferring shares to GVK group and sought directions from the high court for extension of the long stop date to Feb. 7, 2020. (Source: High Court Proceedings)
- Power Transmission Stocks: India’s electricity distribution utilities will gain from more shorter-term purchase contracts, PK Pujari, Chairperson at the Central Electricity Regulatory Commission said at a conference in New Delhi. The share of long-term contracts in India’s electricity market will fall to 50-60 percent in 5-6 years, compared with 92 percent now, he added. (BN)
- Indiabulls Housing Finance: Board approved issue of redeemable non-convertible debentures of up to Rs 10,000 crore and also approved the issue of NCDs along with warrants via qualified institutional placement up to $1 billion.
- Thomas Cook: The NCLT Mumbai sanctioned the amalgamation amongst TC Forex Services, TC Travel Services, SOTC, Travel Corporation, Quess Corp Limited and the company and their respective shareholders.
- Zee Entertainment Enterprises: GIC increases stake from 4.94 percent to 5.28 percent on Nov. 4.
- Max Financial Services said that the company, Mitsui Sumitomo Insurance and Max Life Insurance have mutually agreed to terminate the deal plan and the company will continue the existing JV arrangement with Max Life Insurance.
- Prakash Industries has emerged the highest bidder for Bhaskarpara Coal Mine in Chhattisgarh. The company stated that the mine has an extractable reserve of 24.06 million tonne and its coal is highly suitable for use in the company’s Integrated Steel plant at Champa (Chhattisgarh). This will substantially enhance the operating margins of the company.
- JB Chemicals & Pharma to consider share buy back on Nov. 12.
- Canara Bank revised MCLR across various tenors with effect from Nov. 7. One-month MCLR at 8.15 percent and one-year MCLR at 8.35 percent. Repo-Rate Linked Rate for retail loans and micro, small and medium enterprises at 8.05 percent.
- Philips Carbon Black said that’s its Netherland arm has been liquidated in accordance with local laws of Netherlands. An intimation to this effect will also be sent to the Reserve Bank of India.
- UCO Bank: Shareholders approved the proposal to issue 126 crore shares at Rs 16.89 per share aggregating to Rs 2,130 crore on preferential basis to the Government of India.
- MSTC: Larsen & Toubro has appointed the company as the selling agent for sale of scrap articles.
Q2 Earnings Corner: BPCL, Power Grid, Sun Pharma, UPL
Nifty Earnings To Watch
- Bharat Petroleum Corporation
- Power Grid Corporation of India
- Sun Pharmaceutical Industries
- UPL
Other Earnings To Watch
- Hindustan Petroleum Corporation
- Indraprastha Gas
- DLF
- Whirlpool
- Wockhardt
- Procter & Gamble Health
- GlaxoSmithKline Consumer Healthcare
- Healthcare Global Enterprises
- Adani Transmission
- Aditya Birla Capital
- UCO Bank
- United Breweries
- Thyrocare Technologies
- Thomas Cook
- Trent
- Amber Enterprises
- IPCA Laboratories
- Amrutanjan Health Care
- Andhra Bank, Apar Industries
- BASF India
- Century Enka
- City Union Bank
- Dwarikesh Sugar Industries
- Engineers India
- Eris Lifesciences
- Esab India
- Gabriel India
- GMM Pfaudler
- GOCL Corporation
- Gujarat Alkalies and Chemicals
- IndoStar Capital Finance
- Kesoram Industries
- LT Foods
- Magadh Sugar & Energy
- Max India
- Orient Green Power Company
- Panama Petrochem
- Pitti Engineering
- Plastiblends India
- Responsive Industries
- Solar Industries India
- Som Distilleries & Breweries
- Speciality Restaurants
- TTK Healthcare
- Uniphos Enterprises
- VIP Industries
- NRB Industrial Bearings
- Puravankara
Earning Reactions To Watch
Tata Steel (Q2, YoY)
- Revenue fell 15.4 percent to Rs 34,579.2 crore.
- Net profit rose 15.9 percent to Rs 41,44.7 crore.
- Ebitda fell 56.6 percent to Rs 3,819.6 crore.
- Margin stood at 11 percent versus 21.5 percent.
Indiabulls Housing Finance (Q2, YoY)
- Net interest income fell 26.3 percent to Rs 1252.38 crore.
- Net profit fell 32 percent to Rs 709.52 crore.
- Impairment of financial instruments Rs 237 crore versus Rs 40 crore.
- Gross non-performing assets at 1.51 percent versus 1.47 percent Quarter-on-Quarter.
- Net NPAs at 1.07 percent versus 1.1 percent QoQ.
Brigade Enterprises (Q2, YoY)
- Revenue fell 11 percent to Rs 735.3 crore.
- Net profit fell 45.2 percent to Rs 37.4 crore.
- Ebitda fell 13 percent to Rs 190.3 crore.
- Margin stood at 25.9 percent versus 26.5 percent.
Voltas (Q2, YoY)
- Revenue flat to Rs 1,421.9 crore.
- Net profit rose 2.8 percent to Rs 106.4 crore.
- Ebitda fell 2.5 percent to Rs 105.9 crore.
- Margin at 7.4 percent versus 7.6 percent.
- Other income rose 57 percent to Rs 72.6 crore.
- Employee expenses fell 9 percent to Rs 157.6 crore.
V-Guard Industries (Q2, YoY)
- Revenue rose 3.6 percent to Rs 619.3 crore.
- Net profit rose 50 percent to Rs 57.3 crore.
- Ebitda rose 55.3 percent to Rs 77.5 crore.
- Margin stood at 12.5 percent versus 8.4 percent.
- Employee expenses fell 11 percent to Rs 45 crore versus Rs 50.6 crore due to write back of ESOPS.
Fortis Healthcare (Q2, YoY)
- Revenue rose 6.3 percent to Rs 1,212.2 crore.
- Net profit at Rs 111 crore versus net loss of Rs 166.7 crore.
- Ebitda rose 2.9 times to Rs 184.5 crore versus Rs 64.1 crore.
- Margin stood at 15.2 percent versus 5.6 percent.
- Finance cost fell 42 percent to Rs 49.2 crore.
BSE (Q2, YoY)
- Revenue fell 5.5 percent to Rs 108.9 crore.
- Net profit fell 20 percent to Rs 36.7 crore.
- Ebitda loss at Rs 12.4 crore versus ebitda Gain at Rs 6.6 crore.
- Investment income rose 7 percent to Rs 45.1 crore versus Rs 42.2 crore.
- Employee expenses rose 14 percent to Rs 39.2 crore.
Manappuram Finance (Q2, YoY)
- Net interest income rose 21.6 percent to Rs 819.6 crore.
- Net profit rose 81.9 percent to Rs 404.1 crore.
- Board approves establishment of term note program to raise rose to $750 million.
Max Financial Services (Q2, YoY)
- Revenue rose 8 percent to Rs 4,658.9 crore.
- Net profit fell 49.1 percent to Rs 42.1 crore.
- New business premiums rose 22 percent to Rs 1,730 crore versus Rs 1,420 crore. (H1 FY20 versus H1 FY19)
- New Business Margin at 21 percent versus 20.4 percent. (H1 FY20 versus H1 FY19)
Prataap Snacks (Q2, YoY)
- Revenue rose 35.1 percent to Rs 388 crore.
- Net profit rose 6.2 percent to Rs 12 crore.
- Ebitda rose 44.7 percent at Rs 31.1 crore versus Rs 21.5 crore.
- Margin stood at 8 percent versus 7.5 percent.
MAS Financial Services (Q2, YoY)
- Net interest income rose 10.6 percent to Rs 98.2 crore.
- Net profit rose 34.8 percent to Rs 47.3 crore.
Global Cues: Crude Oil Declines
- U.S. stocks drifted after reports that any signing of a partial trade deal with China won’t happen until at least December, deflating early-session gains.
- Oil fell after a report that the biggest producers in OPEC+ aren’t pushing for deeper oil-supply cuts when the group meets next month.
Get your daily fix of global markets here.
SGX Nifty Suggests Positive Start; Asian Stocks Trade Mixed
Good Morning!
The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 0.06 percent to 12,014.50 as of 8:20 a.m.
Stocks in Asia were mixed on Thursday on reports that the signing of a partial U.S.-China trade deal may be delayed until next month.
Equities in Japan edged up, while Hong Kong and China opened flat and South Korean stocks slipped.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.
RECOMMENDED FOR YOU
POPULAR