All You Need To Know Going Into Trade On October 22
Asian stocks were steady Friday as traders weighed earnings reports and a looming payment deadline for China Evergrande Group. Treasuries pared a drop spurred by inflation worries.
Equities fluctuated in Japan, fell in South Korea and rose in Australia. The S&P 500 edged up to a record but the mood soured after the cash session when Snap Inc. -- owner of the Snapchat app -- tumbled on a tempered earnings outlook, hurting other technology shares in late trading. Nasdaq 100 and S&P 500 futures retreated, with the former underperforming.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, rose 0.23% to 18,288 as of 6:50 a.m.
The 10-year U.S. Treasury yield trimmed a climb but remains higher for the week. The Federal Reserve is getting closer to reducing bond purchases and traders are ramping up bets on rate hikes to quell price pressures.
Elsewhere, crude oil fluctuated and Bitcoin steadied after slipping back from its recent record.
Earnings Post Market Hours
JSW Steel Q2FY22 (Consolidated, QoQ)
Revenue up 12.46% at Rs 32,503 crore Vs Rs 28,902 crore (BBG estimate: Rs 32,108.6 crore)
Net profit up 21.44% at Rs 7,170 crore Vs Rs 5,904 crore (BBG estimate: Rs 5,744 crore)
Ebitda up 1.39% at Rs 10,417 crore Vs Rs 10,274 crore (BBG estimate: Rs 10,452 crore)
Margin at 32.6% Vs 35.5%
TVS Motor Company Q2FY22 (Consolidated, YoY)
Revenue up 23% at Rs 6,483.42 crore Vs Rs 5,254.36 crore
Net profit up 35% at Rs 242.17 crore Vs Rs 179.93 crore
Ebitda up 17% at Rs 739.79 crore Vs Rs 633.44 crore
Margin at 11.4% Vs 12.1%
ICICI Lombard General Insurance Company Q2FY22 (Consolidated, QoQ)
Revenue up 3% at Rs 3,250.3 crore Vs Rs 3,152.1 crore
Net profit up 1.30 times at Rs 446.7 crore Vs Rs 194.3 crore
Ebitda at Rs 457.1 crore Vs Rs 54.2 crore
Margins at 14.1% Vs 1.7%
EPS at Rs 9.11 Vs Rs 3.96 (BBG estimate: Rs 8.27)
Declared an interim dividend of Rs 4 per share
LIC Housing Finance Q2FY22 (Consolidated, YoY)
NII down 5% at Rs 1,212.5 crore Vs Rs 1,277.48 crore
Net profit down 68% at Rs 249.74 crore Vs Rs 789.55 crore
Container Corporation of India Q2FY22 (Consolidated, YoY)
Revenue up 22% at Rs 1,837.20 crore Vs Rs 1,509.30 crore
Net profit up 37% at Rs 253.72 crore Vs Rs 184.62 crore
Ebitda up 37% at Rs 431.86 crore Vs Rs 315.96 crore
Margin at 23.51% Vs 20.93%
Declared an interim dividend of Rs 4 per share
Mphasis Q2FY22 (Consolidated, QoQ)
Revenue up 7% at Rs 2,869.22 crore Vs Rs 2,690.83 crore
Net profit up 1% at Rs 341.45 crore Vs Rs 339.68 crore
Ebit up 1% at Rs 431.98 crore Vs Rs 427.01 crore
Margin at 15.06% Vs 15.87%
Macrotech Developers Q2FY22 (Consolidated, YoY)
Revenue up 1.36 times at Rs 2,123.83 crore Vs Rs 900.76 crore
Net profit of Rs 220.41 crore Vs Net loss of Rs 363.22 crore
Ebitda up 1.71 times at Rs 391.81 crore Vs Rs 144.39 crore
Margin at 18.4% Vs 16%
Approved fund raising of up to Rs 4,000 crore
Indian Energy Exchange Q2FY22 (Consolidated, YoY)
Revenue up 56% at Rs 110.37 crore Vs Rs 70.91 crore
Net profit up 75% at Rs 77.72 crore Vs Rs 44.33 crore
Ebitda up 71% at Rs 95.03 crore Vs Rs 55.44 crore
Margin at 86.1% Vs 78.2%
Recommended the bonus issue of equity shares in the proportion of two shares of Re 1 each for every one share of Re 1 each
South Indian Bank Q2FY22 (Standalone)
NII down 21% at Rs 527.15 crore Vs Rs 663.11 crore (YoY)
Net loss of Rs 187.06 crore Vs Net profit of Rs 65.09 crore (YoY)
GNPA at 6.65% Vs 8.02% (QoQ)
NNPA at 3.85% Vs 5.05% (QoQ)
Indiamart Intermesh Q2FY22 (Consolidated, YoY)
Revenue up 12% at Rs 182.40 crore Vs Rs 163.20 crore
Net profit up 18% at Rs 82.20 crore Vs Rs 69.80 crore
Ebitda up 2% at Rs 83.20 crore Vs Rs 81.70 crore
Margin at 45.6% Vs 50.1%
Indian Hotels Q2FY22 (Consolidated, YoY)
Revenue up 1.84 times at Rs 728.37 crore Vs Rs 256.67 crore
Net loss at Rs 120.58 crore Vs Rs 230.01 crore
To raise up to Rs 2,000 crore via rights issue and Rs 2,000 crore via QIP
To purchase 39.84% of Roots Corporation Ltd from the existing shareholders of the company--Omega TC Holdings Pte, Tata Capital, Tata Investment Corporation and Piem Hotels--at an acquisition cost not exceeding Rs 500 crore. RCL operates and manages the Ginger brand of hotels.
Tanla Platforms Q2FY22 (Consolidated, YoY)
Revenue up 44% at Rs 841.61 crore Vs Rs 583.24 crore
Net profit up 67% at Rs 136.17 crore Vs Rs 81.47 crore
Ebitda up 83% at Rs 178.67 crore Vs Rs 97.52 crore
Margin at 21.2% Vs 16.7%
Can Fin Homes Q2FY22 (YoY)
Revenue down 11% at Rs 467.77 crore Vs Rs 525.75 crore
Net profit down 4% at Rs 123.63 crore Vs Rs 128.41 crore
Ebitda down 9% at Rs 442.26 crore Vs Rs 487.68 crore
Margin at 94.5% Vs Rs 92.8%
Approved raising up to Rs 4,000 crore via NCDs
Stocks To Watch
Tata Chemicals: The company is considering selling its soda ash business in the U.S. It’s seeking $1 billion or more for the asset. Tata Chemicals has reached out to private equity firms and some industry groups to gauge interest, according to a Bloomberg report.
Bharti Airtel: The company's rights issue of up to Rs 20,987.39 crore has been closed for subscription on October 21. The issue was subscribed approximately 1.44 times.
Reliance Industries: The company’s proposal to appoint Aramco Chairman as independent director gets shareholder approval. 98% of votes cast were in favour of appointment of Yasir Othman H. Al Rumayyan as independent director on RIL's board.
KEC International: The company has secured new orders of Rs 1,829 crore across its various businesses.
Bank of Maharashtra: Raised Rs 1,000 crore through private placement of 1,000 Basel III Compliant Tier II Bonds of Rs 1 crore each for a period of 10 years.
Tata Motors: S&P Global Ratings has upgraded the credit rating of senior unsecured notes of Tata Motors and Tata Motors Holding Pte to BB-/Stable from B/Watch Positive. The rating agency has also upgraded the credit rating of senior unsecured notes of Jaguar Land Rover Automotive Plc to B+/Stable from B/Watch Positive.
Bank of Baroda: Appointed Joydeep Dutta Roy as Executive Director of the bank for a period of three years.
lnduslnd Bank: To raise up to Rs 2,800 crore via issuance of unsecured Basel III Compliant Bonds in the nature of debentures on private placement basis.
IRB Infrastructure: To consider proposal of fund raising on October 26.
India Grid Trust: To consider raising funds in October 27 meeting.
Embassy Office Parks REIT: Completed a lease renewal in Embassy Manyata, Bengaluru with Nokia Solutions and Networks India.
Thomas Cook (India) and its group company SOTC Travel have partnered with Vistara to launch Vistara Getaways. The partnership will offer Vistara’s customers a diverse range of holidays at attractive prices.
Wipro: To launch a Technology Business Management Practice as part of its strategic relationship with Apptio. TBM provides technology leaders with valuable insights, data and standards to communicate the cost, quality and value of technology investments to business partners, the company said. Further it has partnered with National Grid to drive data center consolidation and implement next generation hybrid cloud architecture.
Vedanta: Board approved the appointment of Ajay Goel as acting Chief Financial Officer of the company with effect from October 23.
Earnings: Reliance Industries, HDFC Life Insurance Company, Hindustan Zinc, Gland Pharma, Apollo Pipes, Federal Bank, Yes Bank, Crompton Greaves Consumer Electricals, Dodla Dairy, Huhtamaki India, Inox Leisure, Jubilant Pharmova, Kajaria Ceramics, Kirloskar Ferrous Industries, Mahindra Holidays & Resorts India, Polycab India, ABB Power Products and Systems India, PVR, Steel Strips Wheels, Stylam Industries, Subros, Sundaram-Clayton, Supreme Industries, Tata Consumer Products, Tata Elxsi, TCI Express, Wendt (India)
Pledge Share Details
Steel Strips Wheels: Promoter Dheeraj Garg revoked pledge of 1 lakh shares on October 20.
As reported on October 21.
Himadri Speciality Chemical: BC India Investments sold 35 lakh shares (0.84%) at Rs 51.77 per share and sold another 1.08 crore shares (2.48%) at Rs 50.9 per share.
Sonata Software: Wisdomtree Emerging Markets Smallcap Dividend Fund sold 5.55 lakh shares (0.53%) at Rs 845.11 per share.
Welspun Corp: Wisdomtree Emerging Markets Smallcap Dividend Fund sold 20.43 lakh shares (0.78%) at Rs 130.45 per share.
Ex-Date Rights Issue: Nxtdigital
Record Date Rights Issue: Texmaco Rail & Engineering
Record Date Stock Split: Vishwaraj Sugar Industries
Record Date Interim Dividend: HCL Technologies, Mindtree, Bhansali Engineering Polymers, Mishtann Foods, Ramkrishna Forgings
Price Band Revised From 10% To 5%: Adani Power, AMD Industries
Price Band Revised From 20% To 10%: Vishwaraj Sugar Industries
Move Out Of Short-Term ASM Framework: PG Electroplast, Surya Roshni
Money Market Update
The rupee ended at 74.86 against the U.S. Dollar on Thursday as compared to Wednesday's closing of 74.87.
Nifty October futures ended at 18,240.50, a premium of 62.4 points.
Nifty October futures shed 5.77%, and 12,713 shares in Open Interest.
Nifty Bank October futures ended at 40,300, a premium of 269.8 points.
Nifty Bank October futures shed 5.3%, and 3,315 shares in Open Interest.
Securities in the ban list: Amararaja Batteries, Escorts, Sun TV, Vodafone Idea, Nalco, IRCTC, SAIL, Punjab National bank, L&T Finance, Tata Power