All You Need To Know Going Into Trade On October 19
Asian stocks rose early Tuesday as investors mulled corporate earnings as well as the prospect of tightening monetary policy to restrain inflation. Treasury yields and the dollar edged down.
Shares had modest gains in Japan, Australia and South Korea, while U.S. futures fluctuated after the S&P 500 and Nasdaq 100 gained overnight, aided by optimism about corporate earnings.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, rose 0.11% to 18,506 as of 6:45 a.m.
The gap between 5- and 30-year Treasury yields has narrowed amid growing expectations that the Federal Reserve may lift policy rates as soon as next year.
The oil rally paused with prices around multiyear highs. A natural-gas shortage is spurring demand for products like fuel oil and diesel for power generation. Elsewhere, Bitcoin traded above $62,000. ETF issuer ProShares is preparing to launch its Bitcoin futures fund on the New York Stock Exchange on Tuesday.
Earnings Post Market Hours
L&T Infotech Q2FY22 (Consolidated, QoQ)
Revenue up 9% at Rs 3,767 crore Vs Rs 3,462.50 crore
$ Revenue up 8.3% at $509 million
Constant currency revenue growth of 8.9%
Net profit up 11% at Rs 551.70 crore Vs Rs 496.80 crore
Ebit up 14% at Rs 648.20 crore Vs Rs 568.2 crore
Margin at 17.21% Vs 16.41%
Declared an interim dividend of Rs 15 per share for FY22
Hatsun Agro Products Q2FY22 (YoY)
Revenue up 23% at Rs 1,635.41 crore Vs Rs 1,326.99 crore
Net profit up 25% at Rs 82.09 crore Vs Rs 65.78 crore
Ebitda up 8% at Rs 209.21 crore Vs Rs 193.58 crore
Margin at 12.8% Vs 14.6%
The company has entered in to a fresh agreement with Swelect Renewable Energy for purchase of solar power under captive user model
Craftsman Automation Q2FY22 (Consolidated, YoY)
Revenue up 54% at Rs 571.01 crore Vs Rs 370.72 crore
Net profit up 1.19 times at Rs 49.96 crore Vs Rs 22.83 crore
Ebitda up 42% at Rs 143.60 crore Vs Rs 101.62 crore
Margin at 25.1% Vs 27.3%
Route Mobile Q2FY22 (Consolidated, YoY)
Revenue up 25% at Rs 435.67 crore Vs Rs 349.27 crore
Net profit up 28% at Rs 42.17 crore Vs Rs 32.87 crore
Ebitda up 34% at Rs 56 crore Vs Rs 41.81 crore
Margin at 12.85% Vs 11.97%
Stocks To Watch
Edelweiss Financial Services: Edelweiss Group has announced divestment of its majority stake in Edelweiss Gallagher Insurance Brokers. IRDAI has approved the divestment. The business will transition to the Gallagher brand in the coming months. Edelweiss Group to focus on developing its life and non-life insurance businesses.
State Bank of India: RBI has imposed Rs 1 crore penalty on the bank. Penalty due to non-compliance with directions on fraud classification and reporting. Bank was found to have delayed reporting of fraud in a specific account. Further, the bank’s committee has accorded approval to allot 6,000 Basel lll compliant fully paid-up debt instruments in the nature of debentures qualifying as AT 1 Capital of the bank of face value of Rs 1 crore each, bearing a coupon of 7.72% per annum, aggregating to Rs 6,000 crore to bond subscribers.
Dixon Technologies (India): Padget Electronics, a subsidiary of the company, and Orbic, a U.S. based smartphone manufacturer have entered into an agreement for manufacturing of smartphones at Padget’s manufacturing facility situated at Noida.
Manappuram Finance: Jagdish Capoor has resigned as independent non-executive director and chairman of the company effective October 18, 2021.
Indian Energy Exchange: Board to meet on October 21 to consider the proposal of bonus issue of equity shares.
TTK Prestige: To consider sub-division of equity shares of face value of Rs 10 each on October 27.
HG Infra Engineering: The company has been declared as L-1 bidder by National Highways Authority of India for two HAM projects.
Earnings: Nestle India, Hindustan Unilever, ICICI Prudential Life Insurance Company, L&T Technology Services, ICICI Securities, ACC, DCM Shriram, Tata Steel Bsl, Heidelbergcement India, Jubilant Ingrevia, JSW Ispat Special Products, Mastek, Navin Fluorine International, Nelco, Network18 Media & Investments, Rallis India, Sonata Software, Tv18 Broadcast
Penna Cement Industries has received SEBI approval for its Rs 1,550 crore IPO. The IPO comprises a fresh issue of Rs 1,300 crore and an offer for sale of up to Rs 250 crore by the promoter PR Cement Holdings.
PB Fintech, the parent company of Policybazaar and Paisabazaar, has received SEBI approval for IPO, according to an Economic Times report.
Who’s Meeting Whom
Sobha: To meet Ambit Capital and Burman Capital Management on October 22.
Record Date Interim Dividend: TCS
Price Band Revised From 20% To 10%: Maharashtra Seamless, MSTC, Network18 Media & Investments, Tata Motors
Move Into ASM Framework: DB Realty
Move Out Of Short-Term ASM Framework: Dishman Carbogen Amcis
Money Market Update
The rupee ended at 75.34 against the U.S. Dollar on Monday as compared to Thursday's closing of 75.25.
Nifty October futures ended at 18,487.90, a premium of 10.85 points.
Nifty October futures shed 0.84%, and 2,034 shares in Open Interest.
Nifty Bank October futures ended at 39,760, a premium of 75.2 points.
Nifty Bank October futures shed 0.28%, and 187 shares in Open Interest.
Securities in the ban list: Indiabulls Housing Finance, Sun TV, BHEL, Vodafone Idea
Securities removed from the ban list: IRCTC, Bank of Baroda
Securities added to the ban list: Amararaja Batteries, Escorts, Nalco