All You Need To Know Going Into Trade On November 2
Asian stocks opened steady Tuesday as traders evaluated a record-high close for U.S. equities and awaited key central bank decisions amid concerns about elevated inflation.
Equities dipped in Japan and Australia, and rose in South Korea. U.S. contracts fluctuated after optimism over corporate earnings saw the S&P 500 hit a new peak and the Dow Jones Industrial Average touch 36,000 for the first time. Electric-vehicle giant Tesla Inc. extended a rally.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, rose 0.20% to 18,032.50, as of 7:00 a.m.
The U.S. 10-year Treasury yield nudged higher and the dollar were steady ahead of the Federal Reserve meeting. The policy review comes amid price pressures stoked by the most-widespread U.S. supply crunch since the oil crisis of 1973. The Fed is expected to announce a tapering of its massive bond-purchase program.
Elsewhere, oil retreated amid rising stockpiles at the biggest U.S. storage hub, signaling a crude supply drain may be slowing. Bitcoin traded around $60,800.
Earnings Post Market Hours
Tata Motors Q2FY22 (Consolidated, QoQ)
Revenue down 8% at Rs 61,379 crore Vs Rs 66,406 crore (BBG estimate: Rs 59,088 crore)
Net loss at Rs 4,442 crore Vs Rs 3,509.91 crore (BBG estimate: Rs 3,681 crore loss)
Ebitda at Rs 4,117 crore Vs Rs 5,242 crore (BBG estimate: Rs 5,334 crore)
Margins at 7% Vs 8% (BBG estimate: 9%)
Chambal Fertilisers and Chemicals Q2FY22 (Consolidated, YoY)
Revenue up 12% at Rs 4,478.61 crore Vs Rs 3,986.94 crore
Net profit up 16% at Rs 505.77 crore Vs Rs 436.71 crore
Ebitda down 4% at Rs 736.85 crore Vs Rs 771.55 crore
Margin at 16.5% Vs 19.4%
Bajaj Consumer Care Q2FY22 (Consolidated, YoY)
Revenue down 5% at Rs 216.17 crore Vs Rs 226.91 crore
Net profit down 18% at Rs 46.50 crore Vs Rs 56.92 crore
Ebitda down 23% at Rs 48.05 crore Vs Rs 62.41 crore
Margin at 22.2% Vs 27.5%
The Phoenix Mills Q2FY22 (Consolidated, YoY)
Revenue up 73% at Rs 371.30 crore Vs Rs 214.91 crore
Net profit of Rs 63.15 crore Vs Net loss of Rs 39.98 crore
Ebitda up 1.03 times at Rs 186.25 crore Vs Rs 91.67 crore
Margin at 50.2% Vs 42.7%
The Shipping Corporation of India Q2FY22 (Consolidated, YoY)
Revenue up 45% at Rs 1,221.31 crore Vs Rs 843.21 crore
Net profit up 71% at Rs 243.01 crore Vs Rs 141.89 crore
Ebitda up 96% at Rs 399 crore Vs Rs 203.91 crore
Margin at 32.7% Vs 24.2%
VRL Logistics Q2FY22 (Consolidated, YoY)
Revenue up 45% at Rs 636.36 crore Vs Rs 439.25 crore
Net profit up 60% at Rs 49.47 crore Vs Rs 30.88 crore
Ebitda up 30% at Rs 113.28 crore Vs Rs 86.91 crore
Margin at 17.8% Vs 19.8%
Bayer Cropscience Q2FY22 (Consolidated, YoY)
Revenue down 1% at Rs 1,365.10 crore Vs Rs 1,381.60 crore
Net profit down 31% at Rs 154.10 crore Vs Rs 224.60 crore
Ebitda down 25% at Rs 221.80 crore Vs Rs 297.7 crore
Margin at 16.2% Vs 21.5%
IG Petrochemicals Q2FY22 (Consolidated, YoY)
Revenue up 94% at Rs 471.08 crore Vs Rs 242.36 crore
Net profit up 1.81 times at Rs 65.04 crore Vs Rs 23.16 crore
Ebitda up 1.33 times at Rs 97.48 crore Vs Rs 41.75 crore
Margin at 20.7% Vs 17.2%
Stocks To Watch
Centrum Capital: Centrum Financial Services and Centrum Microcredit, wholly owned subsidiaries of the company have effected transfer of their respective businesses to Unity Small Finance Bank, a step-down subsidiary of the company. Unity Bank has commenced operations with effect from November 1. Centrum Financial Services-Bharatpe consortium has set up Unity Bank as part of the rescue process for Punjab & Maharashtra Cooperative Bank.
Adani Transmission: The company has signed share purchase agreement with REC Power Development and Consultancy for acquisition of its entire stake in MP Power Transmission Package-II.
Grasim Industries: The company has commissioned a new line of 300 ton per day capacity of Viscose Staple Fibre and has commenced the commercial production from November 1. With this the total VSF capacity has increased to 7,00,500 ton per annum. Further, it has commissioned first phase of expansion project at Rehla, Jharkhand with a capacity of 170 TPD Caustic Soda Lye.
Yes Bank: The bank has completed the transaction for sale of stake in YES Asset Management (India) and YES Trustee to GPL Finance and Investments.
IG Petrochemicals: Approved the brownfield expansion of Phthalic Anhydride up to 53,000 MTPA at Taloja in Maharashtra. The expansion will cost company Rs 345 crore and is expected to be completed in approximately 24-30 months. Further, the company has commenced commercial production at its Advance Plasticizer manufacturing facility with a capacity of 8,400 MTPA situated at Taloja.
Central Bank of India: The bank has entered into a Memorandum of Understanding with National Small Industries Corporation for extending loans to MSME sector.
Motherson Sumi Systems: Board to meet on November 8 to consider a proposal for raising of funds through the issuance of bonds/debentures/non-convertible debt securities.
Niyogin Fintech: Board has approved the hypergrowth plan entailing up to Rs 100 crore investment.
Earnings: Bharti Airtel, Sun Pharmaceutical Industries, Dabur India, Godrej Properties, Hindustan Petroleum Corporation, Jindal Steel & Power, Procter & Gamble Hygiene & Health Care, PNB Housing Finance, Alkyl Amines Chemicals, Bank Of India, Union Bank Of India, Easy Trip Planners, BASF India, Advanced Enzyme Technologies, Trent, Bajaj Healthcare, eClerx Services, Bombay Dyeing & Mfg.Co., Caplin Point Laboratories, Century Plyboards (I), Cholamandalam Financial Holdings, Elantas Beck India, GE Power India, Gillette India, Gulf Oil Lubricants India, Indoco Remedies, Jyothy Labs, LA Opala RG, Laxmi Organic Industries, Minda Corporation, MTAR Technologies, NCL Industries, NOCIL, Prince Pipes and Fittings, Radico Khaitan, R Systems International, Stove Kraft, Thangamayil Jewellery, Thirumalai Chemicals
BlackRock, Canada Pension Plan Investment Board and Singapore's GIC are among bidders for the $1.1 billion of shares Paytm is seeking to sell to institutional investors as part of its IPO, according to a Bloomberg report.
Nykaa's IPO was subscribed 81.7 times at the end of day three. The issue was the fourteenth-most subscribed offer of the year.
Fino Payments Bank’s IPO continued to witness lukewarm subscription on its second day. The issue was subscribed 0.81 times.
The initial public offering of PB Fintech Ltd., the parent of policybazaar.com and paisabazaar.com, ended its first day with 54% subscription.
SJS Enterprises’ IPO was subscribed 32% on day 1.
Capital Small Finance Bank Ltd. filed its draft red herring prospectus with SEBI on Monday for its IPO.
October Auto Sales
Eicher Motors: Total Royal Enfield sales up 31.62% at 44,133 units Vs 33,529 units. Exports down 44.05% at 3,522 units Vs 6,296 units.
Hero MotoCorp: Overall sales up 3.32% at 5,47,970 units Vs 5,30,346 units. Motorcycle sales up 3.37% at 5,05,957 units Vs 4,89,417 units. Exports down 18.85% at 20,191 units Vs 24,884 units.
Comparison made on a month-on-month basis.
Pledge Share Details
Cigniti Technologies: Promoter C Rajeswari created a pledge of 6 lakh shares on October 30.
Who’s Meeting Whom
Cipla: To meet Amansa Capital on November 2.
Cigniti Technologies: To meet SMIFS Capital, Seraphic Management and Advisory, and Investor First Advisors on November 2.
Krsnaa Diagnostics: To meet Tata Mutual Fund and Enam Holdings on November 2.
Mahindra Holidays & Resorts India: To meet Edelweiss on November 2.
Ex-Date Interim Dividend: ANG Lifesciences India, Birlasoft, Butterfly Gandhimathi Appliances, Container Corporation of India, Kajaria Ceramics, Shree Digvijay Cement, Siyaram Silk Mills, Supreme Petrochem, Symphony, Vaibhav Global, Vardhman Textiles
Ex-Date Special Dividend: Tech Mahindra, Procter & Gamble Health
Ex-Date EGM: Steel Exchange India
Ex-Date Final Dividend: Procter & Gamble Health
Record Date Interim Dividend: Colgate-Palmolive (India), Heritage Foods, Navin Fluorine International
Record Date InvIT: India Grid Trust
Money Market Update
The rupee ended at 74.87 against the U.S. Dollar on Monday as compared to Friday's closing of 74.88.
Nifty November futures ended at 18,017, a premium of 87.35 points.
Nifty November futures shed 0.23%, and 504 shares in Open Interest.
Nifty Bank November futures ended at 40,083.10, a premium of 319.35 points.
Nifty Bank November futures added 1.41%, and 1,201 shares in Open Interest.
Securities in the ban list: Punjab National Bank
Securities added to the ban list: Escorts