All You Need To Know Going Into Trade On October 18
Asia stocks and U.S. futures slid Monday as surging energy prices cemented worries about inflation, sending bond yields higher.
Equities fell in Japan and South Korea. Australia rose. U.S. contracts dipped after Wall Street stocks advanced on Friday, with the S&P 500 chalking its best week since July as earnings buoyed sentiment.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, rose 0.30% to 18,458.50 as of 6:45 a.m.
China’s third-quarter gross domestic product due Monday along with monthly industrial and investment data will be closely watched to gauge the severity of electricity shortages. Meanwhile, People’s Bank of China remained confident of containing risks posed to the Chinese economy and financial system from the struggles of China Evergrande Group.
Energy prices extended their advance with West Texas Intermediate crude oil rising above $83 a barrel to the highest since 2014. Brent topped $85 a barrel, the highest since 2018. Bitcoin rallied back above $62,000 as the first U.S. Bitcoin Futures ETF may debut Monday.
Earnings Post Market Hours
HDFC Bank Q2FY22 (Standalone)
NII up 12% at Rs 17,684 crore Vs Rs 15,776.4 crore (YoY)
Net profit up 17.6% at Rs 8,834 crore Vs Rs 7,513 crore (YoY)
GNPA at 1.35% Vs 1.47% (QoQ)
NNPA at 0.40% Vs 0.48% (QoQ)
Total provisions for the bank rose 6% YoY to Rs 3,925 crore
Total deposits stood at Rs 14.06 lakh crore, up 14.4% YoY
Avenue Supermarts Q2FY22 (Consolidated, YoY)
Revenue up 47% at Rs 7,788.94 crore Vs Rs 5,306.20 crore
Net profit up 1.10 times at Rs 417.79 crore Vs Rs 198.55 crore
Ebitda up 1.03 times at Rs 668.58 crore Vs Rs 329.5 crore
Margin at 8.58% Vs 6.21%
HCL Technologies Q2FY22 (Consolidated, QoQ)
Revenue up 2.9% at Rs 20,655 crore Vs Rs 20,068 crore
Ebit down 0.4% at Rs 3,916 crore Vs Rs 3,934 crore
Ebit margin 19% Vs 19.6%
Net profit up 1.6% at Rs 3,265 crore Vs Rs 3,205 crore
Declared an interim dividend of Rs 10 per equity share
Cyient Q2FY22 (Consolidated, QoQ)
Revenue up 5% at Rs 1,111.60 crore Vs Rs 1,058.20 crore
Net profit up 5% at Rs 121.30 crore Vs Rs 115 crore
Ebit up 13% at Rs 155.50 crore Vs Rs 137.40 crore
Ebit margin 14% Vs 13%
Declared an interim dividend of Rs 10 per equity share
Mahindra CIE Automotive Q2FY22 (Consolidated, YoY)
Revenue up 23% at Rs 2,090.60 crore Vs Rs 1,694.30 crore
Net profit up 1.74 times at Rs 166.32 crore Vs Rs 60.76 crore
Ebitda up 78% at Rs 268.41 crore Vs Rs 150.85 crore
Margin at 12.84% Vs 8.90%
Indiabulls Real Estate Q2FY22 (Consolidated, YoY)
Revenue up 16.43 times at Rs 349.31 crore Vs Rs 20.14 crore
Net profit of Rs 5.53 crore Vs Net loss of Rs 76.13 crore
Sameer Gehlaut to leave the office of non-executive director and chairman of the company by the end of the year to focus on business of providing technology-enabled transaction finance and primary healthcare services by Dhani Services
Cyient raised to 'buy' at IDBI Capital Market, Price target at Rs 1,345.
HCL Tech cut to 'neutral' at Phillip Securities, Price target at Rs 1,350.
MCX raised to 'buy' at HDFC Securities, Price target at Rs 2,450.
PNB Housing cut to 'sell' at ICICI Securities, Price target Rs 485.
Stocks To Watch
Coal India: The company has temporarily stopped supplies to industrial users as the energy crisis in India escalates. The move to prioritize supplies to power plants is aimed at helping boost depleted inventories that are putting continued operations at risk. But it could worsen the situation for other industries such as aluminium smelters, cement producers and steel mills.
Lupin: Lupin Pharmaceuticals Inc. has voluntarily recalled lrbesartan tablets and lrbesartan and Hydrochlorothiazide tablets in the U.S. due to the presence of an impurity called N-nitrosolrbesartan. Some tested API batches were above the specification limit for the impurity, the company said. Lupin discontinued the marketing of these tablets in January 2021.
Dr. Reddy’s Laboratories: Exelixis Inc has in-licensed second anti-cancer compound from Aurigene Discovery following U.S. FDA acceptance of lnvestigational New Drug application for phase 1 clinical trial in Non-Hodgkin's Lymphoma. Further the company has launched Carmustine for Injection, USP, a therapeutic equivalent generic version of BiCNU® approved by the FDA.
Dixon Technologies (India): Dixon Electro Appliances, a subsidiary of the company, has received approval from the government under PLI scheme for manufacturing of telecom and networking products in India. “With this, Dixon will be venturing into a new segment of telecom devices and we expect to begin production mainly for routers, modems and GPONs,” Vice Chairman and MD, Atul Lall said.
NBCC India: The company secured the total business of Rs 2,100.96 crore in September.
PNB Housing Finance: The board has decided not to proceed with a preferential issue of shares to investors led by Carlyle after the plan was delayed due to pending legal proceedings. The share subscription agreements executed with the proposed allottees have been terminated. Carlyle’s Pluto Investments S.a.r.l will be initiating the process to withdraw the open offer for PNB Housing shares made at Rs 403.22 each. India top court to hear plea on PNB Housing-Carlyle deal.
Axis Bank: The RBI has approved the reappointment of Amitabh Chaudhry as MD and CEO of the bank from January 1, 2022, till December 31, 2024.
lnduslnd Bank: Board to meet on October 21 to consider proposal for raising of funds in Indian or foreign currency through the issuance of unsecured, non-convertible, redeemable, Basel III-Compliant Regulatory Tier II Bonds.
Shilpa Medicare: To raise up to Rs 297.51 crore via share allotment. The company approved the preferential allotment of 52.75 lakh shares to various marquee investors at a price of Rs 564 per share.
BASF India: The Karnataka Appellate Tribunal has granted stay on recovery of tax demand aggregating to Rs 40.65 crore pertaining to the tax period 2016-2017. The company had received demand notices from the Commercial Tax Department, Karnataka aggregating to Rs 744.67 crore for the tax periods 2006-2007 to 2016-2017.
Macrotech Developers: Board to meet on October 21 to consider proposal to raise funds. Further the company is in talks to sell 4 lakh sq ft office building in Mumbai, according to PTI.
Vivimed Labs: Ramesh Krishnamurthy has resigned as the CEO and CFO of the company effective from October 15.
Equitas Small Finance Bank: Board to consider options for minimum public holding.
Earnings: Ultratech Cement, L&T Infotech, Hatsun Agro Product, Route Mobile, Craftsman Automation, Alok Industries, Tata Coffee
Nykaa has received SEBI approval for an initial public offering, the sources said.
Adani Wilmar has received SEBI approval for Rs 4,500 crore IPO, officials aware of the development said.
Pine Labs, the Indian fintech company, will consider an IPO in 12 months, Reuters reported citing an interview with CEO Amrish Rau.
Pledge Share Details
Ajanta Pharma: Promoter Aayush Agrawal revoked pledge of 1.50 lakh shares on October 12.
Future Consumer: Promoter Future Capital Investment invoked pledge of 10 lakh shares on October 11.
Max Financial Services: Promoter Max Ventures Investment Holdings created a pledge of 1.42 lakh shares on October 13.
Vijaya Diagnostic Centre: CLSA Global Markets Pte sold 5.11 lakh shares (0.50%) at Rs 562.02 per share.
Ex-Date EGM: Omaxe
Ex-Date AGM: AGC Networks
Price Band Revised From 5% To 10%: Adani Power, Deepak Fertilizers and Petrochemicals Corporation, Gateway Distriparks, Jaiprakash Associates
Price Band Revised 5% To 20%: eClerx Services, Paras Defence and Space Technologies, Sarda Energy & Minerals
Move Into Short-Term ASM Framework: Tata Motors, Jaiprakash Power Ventures, Sona BLW Precision Forgings, Tata Teleservices (Maharashtra), PTC India, Genesys International Corporation
Move Out Of Short-Term ASM Framework: Bodal Chemicals, Triveni Turbine
Move Into ASM Framework: Sarda Energy & Minerals, Deepak Fertilizers and Petrochemicals Corporation, Gateway Distriparks, eClerx Services, Adani Power, Jaiprakash Associates
Move Out Of ASM Framework: CG Power and Industrial Solutions, Reliance Infrastructure, Dynamatic Technologies, Easy Trip Planners, Seamec, IIFL Securities
Money Market Update
The rupee ended at 75.25 against the U.S. Dollar on Thursday as compared to Wednesday's closing of 75.37.
Nifty October futures ended at 18,356.75, a premium of 18.2 points.
Nifty October futures shed 2.55%, and 6,366 shares in Open Interest.
Nifty Bank October futures ended at 39,421.65, a premium of 80.75 points.
Nifty Bank October futures shed 0.98%, and 651 shares in Open Interest.
Securities in the ban list: Indiabulls Housing Finance, Sun TV, Bank of Baroda, BHEL, Vodafone Idea
Securities removed from the ban list: Nalco, Punjab National Bank, SAIL
Securities added to the ban list: IRCTC