All You Need To Know Going Into Trade On October 28
Most Asian stocks fell Thursday amid concerns that the recovery from the pandemic will slow as elevated inflation forces tighter monetary policy. A gauge of the dollar ticked up.
Shares slipped in Japan and Australia and were little changed in South Korea. U.S. futures rose after the tech-heavy Nasdaq 100 touched an intraday record.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, was little changed at 18,219, as of 6:45 a.m.
Ten-year and 30-year U.S. Treasuries held a rally. Commodities including aluminum, iron ore and crude oil dropped. Investors are awaiting the European Central Bank policy meeting as well as a report later Thursday on U.S. economic growth.
Elsewhere, Bitcoin retreated below $60,000, falling further back from the peak of almost $67,000 reached last week.
Earnings Post Market Hours
L&T Q2FY22 (Consolidated, QoQ)
Revenue up 18.5% at Rs 34,772.9 crore Vs Rs 29,334.73 crore
Net profit up 54.92% at Rs 1,819.45 crore Vs Rs 1,174.44 crore
Ebitda up 25.9% at Rs 3,994.87 crore Vs Rs 3,171.49 crore
Margins at 11.5% Vs 10.8%
Order inflow guidance of low-to-mid teens for FY22
Order book grew 11.3% to Rs 3.3 lakh crore
Net working capital at 22% at the end of Sept-end compared to 26% YoY, 22.7% in Q1
Tendering activity picked up pace in Q2 Vs Q1. Tenders worth Rs 2 lakh crore were issued and awards stood at Rs 86,000 crore
The pace of tenders is expected to pick-up into Q3
Adani Ports & SEZ Q2FY22 (Consolidated, QoQ)
Revenues down 22.48% at Rs 3,532.42 crore Vs Rs 4,556.81 crore
Net profit down 27.16% at Rs 951.71 crore Vs Rs 1,306.69 crore
Ebitda up 1.6% at Rs 2,268.07 crore Vs Rs 2,232.38 crore
Margins at 64.20% Vs 49%
Titan Q2FY22 (Consolidated, QoQ)
Revenue up 2.2 times at Rs 7,493 crore Vs Rs 3,473 crore (BBG estimate: Rs 6,271.08 crore)
Net profit up 35.6 times to Rs 641 crore Vs Rs 18 crore (BBG estimate: Rs 671 crore)
Ebitda up 7 times at Rs 968 crore Vs Rs 137 crore (BBG estimate: Rs 834.87 crore)
Margins at 12.9% Vs 3.9% (BBG estimate: 13.3%)
Bajaj Auto Q2FY22 (Standalone, QoQ)
Revenue up 18.6% at Rs 8,762.18 crore Vs Rs 7,386 crore
Net profit up 20.1% at Rs 1,274.55 crore Vs Rs 1,061 crore
Ebitda up 25.17% at Rs 1,401.12 crore Vs Rs 1,119.36 crore
Margins at 16% Vs 15.1%
Approved incorporation of a captive finance unit
ITC Q2FY22 (Consolidated, QoQ)
Revenue up 13% at Rs 14,844 crore Vs Rs 13,147.81 crore (BBG estimate: Rs 13,076.5 crore)
Net profit up 6% at Rs 3,713.76 crore Vs Rs 3,519.31 crore (BBG estimate: Rs 3,490.05 crore)
Ebitda up 14% at Rs 5,017.6 crore Vs Rs 4,401 crore (BBG estimate: Rs 4,561.75 crore)
Margins at 33.8% Vs 33.47% (BBG estimate: 34.9%)
IndusInd Bank Q2FY22 (Consolidated)
Net profit at Rs 1,146.73 crore Vs Rs 663.08 crore (up 73% YoY)
NII at Rs 3,658.4 crore Vs Rs 3,278 crore (up 11.6% YoY)
GNPA at 2.77% vs 2.88% (QoQ)
NNPA at 0.80% vs 0.84% (QoQ)
SBI Life Insurance Company Q2FY22 (Consolidated, QoQ)
Revenue up 76.4% at Rs 25,404.1 crore Vs 15,736.9 crore (BBG estimate: Rs 17,225.5 crore)
Net profit up 11% at Rs 246.6 crore Vs Rs 223.2 crore (BBG estimate: Rs 560.5 crore Profit)
Ebitda up 8% at Rs 251.9 crore Vs Rs 233.4 crore (BBG estimate: Rs 433.1 crore)
Margins at 1% Vs 1.5% (BBG estimate: 2.5%)
EPS at Rs 2.47 Vs Rs 2.23 (BBG estimate: Rs 5.40)
Adani Enterprises Q2FY22 (Consolidated, YoY)
Revenue up 45% at Rs 13,218.02 crore Vs Rs 9,126.42 crore
Net profit down 41% at Rs 212.41 crore Vs Rs 362.37 crore
Ebitda up 15% at Rs 882.60 crore Vs Rs 765.44 crore
Margin at 6.7% Vs 8.4%
Solar manufacturing: With strong order book of 1.2 GW the company will continue to focus on this segment to have sustainable growth
Mining Services: Significant ramp up in GP III, Talabira and Kurmitar mines led to increase in productions volumes by 77% in Q2
United Spirits Q2FY22 (Consolidated, YoY)
Revenue up 9% at Rs 8,208.80 crore Vs Rs 7,509.40 crore
Net profit up 1.26 times at Rs 291.80 crore Vs Rs 129.40 crore
Ebitda up 61% at Rs 469.10 crore Vs Rs 290.70 crore
Margin at 5.7% Vs 3.9%
United Breweries Q2FY22 (Consolidated, YoY)
Revenue up 47% at Rs 3,294.73 crore Vs Rs 2,238.96 crore
Net profit up 21.25 times at Rs 80.34 crore Vs Rs 3.61 crore
Ebitda up 3.11 times at Rs 165.39 crore Vs Rs 40.22 crore
Margin at 5% Vs 1.8%
Dalmia Bharat Q2FY22 (Consolidated, YoY)
Revenue up 11% at Rs 2,577 crore Vs Rs 2,313 crore
Net profit down 10% at Rs 209 crore Vs Rs 232 crore
Ebitda down 11% at Rs 621 crore Vs Rs 699 crore
Margin 24.1% Vs 30.2%
Declared interim dividend of Rs 4 per equity share
Tata Chemicals Q2FY22 (Consolidated, YoY)
Revenue up 16% at Rs 3,022.63 crore Vs Rs 2,609.35 crore
Net profit up 1.03 times at Rs 268.02 crore Vs Rs 132.09 crore
Ebitda up 30% at Rs 500.89 crore Vs Rs 386.25 crore
Margin at 16.6% Vs 14.8%
SKF India Q2FY22 (Standalone, YoY)
Revenue up 37% at Rs 966.37 crore Vs Rs 703.24 crore
Net profit up 81% at Rs 117.64 crore Vs Rs 65.02 crore
Ebitda up 73% at Rs 159.75 crore Vs Rs 92.14 crore
Margin at 16.5% Vs 13.1%
Reliance Power Q2FY22 (Consolidated, YoY)
Revenue down 25% at Rs 1,847.24 crore Vs Rs 2,449.32 crore
Net profit loss of Rs 49.05 crore Vs Net profit of Rs 105.67 crore
Ebitda down 22% at Rs 795.84 crore Vs Rs 1,020.39 crore
Margin at 43.1% Vs 41.7%
Debt reduced by Rs 1,694 crore. On track to reduce debt by Rs 3,200 crore in FY22
Torrent Power Q2FY22 (Consolidated, YoY)
Revenue up 17% at Rs 3,647.62 crore Vs Rs 3,128.73 crore
Net profit up 82% at Rs 368.84 crore Vs Rs 202.17 crore
Ebitda up 32% at Rs 938.32 crore Vs Rs 711.12 crore
Margin at 25.7% Vs Rs 22.7%
Tube Investments of India Q2FY22 (Consolidated, YoY)
Revenue up 1.73 times at Rs 3,262.76 crore Vs Rs 1,193.28 crore
Net profit up 100% at Rs 201.67 crore Vs Rs 101.07 crore
Ebitda up 1.16 times at Rs 376.75 crore Vs Rs 174.79 crore
Margin at 11.5% Vs 14.6%
Punjab National Bank Q2FY22
NII down 24% at Rs 6,549.61 crore Vs Rs 8,620.75 crore (YoY)
Net profit up 1.20 times at Rs 1,200.12 crore Vs Rs 544.66 crore (YoY)
GNPA at 13.63% Vs 14.33% (QoQ)
NNPA 5.49% Vs 5.84% (QoQ)
Deepak Nitrite Q2FY22 (Consolidated, YoY)
Revenue up 70% at Rs 1,681.35 crore Vs Rs 987.34 crore
Net profit up 49% at Rs 254.34 crore Vs Rs 170.19 crore
Ebitda up 40% at Rs 386.54 crore Vs Rs 275.70 crore
Margin at 23% Vs 27.9%
Cummins India Q2FY22 (Consolidated, YoY)
Revenue up 48% at Rs 1,730.23 crore Vs Rs 1,169.99 crore
Net profit up 28% at Rs 221.03 crore Vs Rs 173.16 crore
Ebitda up 54% at Rs 259.43 crore Vs Rs 168.59 crore
Margin at 15% Vs 14.4%
SIS Q2FY22 (Consolidated, YoY)
Revenue up 13% at Rs 2,430.92 crore Vs Rs 2,157.85 crore
Net profit down 37% at Rs 68.38 crore Vs Rs 108.08 crore
Ebitda down 5% at Rs 123.04 crore Vs Rs 129.65 crore
Margin at 5.1% Vs 6%
IIFL Wealth Management Q2FY22 (Consolidated, YoY)
NII up 43% at Rs 398.28 crore Vs Rs 278.83 crore
Net profit up 64% at Rs 142.48 crore Vs Rs 87.13 crore
Approved second interim dividend for FY22 of Rs 20 per equity share
KEC International Q2FY22 (Consolidated, YoY)
Revenue up 10% at Rs 3,587.46 crore Vs Rs 3,257.67 crore
Net profit down 44% at Rs 80.29 crore Vs Rs 142.55 crore
Ebitda down 14% at Rs 252.96 crore Vs Rs 293.10 crore
Margin at 7.1% Vs 9%
Raymond Q2FY22 (Consolidated, YoY)
Revenue up 1.30 times at Rs 1,551.32 crore Vs Rs 674.21 crore
Net profit of Rs 56.15 crore Vs Net loss of Rs 136.59
Ebitda gain of Rs 180.87 crore Vs Ebitda loss of Rs 109.94 crore
Happiest Minds Technologies Q2FY22 (Consolidated, QoQ)
Revenue up 8% at Rs 264.53 crore Vs Rs 244.61 crore
Net profit up 24% at Rs 44.44 crore Vs Rs 35.73 crore
Ebit up 5% at Rs 52.19 crore Vs Rs 49.66 crore
Margin at 19.7% Vs 20.3%
Declared an interim dividend of Rs 1.75 per equity share
Stocks To Watch
Future Retail: The company has approached the Delhi High Court against the Singapore-based arbitral tribunal’s order which declined to vacate the status quo on its Rs 27,513-crore transaction with Reliance Retail Ltd. The company in its appeal has sought staying and setting aside the operation of the arbitral tribunal’s order upholding the status quo on the transaction and alternatively, allowing it to conduct the meeting of the shareholders and creditors as directed by the NCLT Mumbai earlier this month.
Indian Overseas Bank: To raise Rs 500 crore as Tier 2 capital in FY22. The bank may also look at equity fundraising in FY23, bank’s MD and CEO Partha Pratim Sengupta said.
Jubilant FoodWorks: To acquire 35% stake in Hashtag Loyalty Pvt Ltd for Rs 24.75 crore. The acquisition is expected to be completed within 60 days from execution of share subscription agreement and share purchase agreement.
Axis Bank: Rajiv Anand elevated to deputy managing director of the bank. Anand was ED- wholesale banking at Axis Bank. In addition to wholesale banking, Anand will also work on strengthening control and governance aspects.
Bank of Baroda: Capital Raising Committee to meet on November 1 to consider raising funds through issue of capital debt instruments.
Wipro: The company has partnered with Micro Focus to streamline legacy apps migration to cloud. Further it has appointed Kimberly Watson as Country Head and Managing Director for Canada.
Zomato: Zomato Ireland (Lebanon Branch) will shut down operations from December 15, 2021.
Vedanta: Monte Cello BV, a subsidiary of the company, has entered into a term sheet agreement to divest copper mines of Tasmania by way of an option agreement with New Century Resources. MCBV is 100% owner of the Mt Lyell Copper Mine in Australia.
Bharti Airtel: Approved the allotment of 39.23 crore rights equity shares.
Krishna Institute of Medical Sciences: KIMS Hospitals has entered into definitive agreements to acquire 51.07% stake in Sunshine Hospitals (M/s Sarvejana Healthcare private Limited) at an enterprise value of Rs 730 crore.
Earnings: Bajaj Finserv, InterGlobe Aviation, SBI Cards and Payment Services, Adani Green Energy, Adani Total Gas, NTPC, DLF, Tata Power, Marico, Bajaj Holdings & Investment, Gujarat Gas, Schaeffler India, AU Small Finance Bank, Indian Bank, Laurus Labs, Mahindra & Mahindra Financial Services, RBL Bank, Uco Bank, Motilal Oswal Financial Services, Infibeam Avenues, Edelweiss Financial Services, AAVAS Financiers, APL Apollo Tubes, Blue Star, GMM Pfaudler, JM Financial, Jindal Stainless (Hisar), JSW Holdings, Intellect Design Arena, CarTrade Tech, CCL Products (India), Chalet Hotels, Coromandel International, Dishman Carbogen Amcis, Esab India, Fairchem Organics, GHCL, Gujarat Narmada Valley Fertilizers & Chemicals, Gujarat State Fertilizers & Chemicals, Hester Biosciences, Ion Exchange (India), Johnson Controls-Hitachi Air Conditioning India, JK Tyre & Industries, Kirloskar Oil Engines, Prism Johnson, Ratnamani Metals & Tubes, Reliance Infrastructure, Shree Renuka Sugars, Responsive Industries, Subex, Sudarshan Chemical Industries, Transport Corporation Of India, UTI Asset Management Company, Valiant Organics, V-Guard Industries, Welspun Corp, Welspun Enterprises, Westlife Development, Zydus Wellness
Nykaa has raised Rs 2,395.84 crore in its anchor book allocation ahead of its IPO, from 174 anchor investors. The company has approved allotment of 2.13 crore shares at the upper price band of Rs 1,125 per equity share. The company’s IPO will open for subscription today.
Paytm is seeking a valuation of about $20 billion when it opens its initial public offering next month, according to a Bloomberg report. The company aims to raise as much as Rs 18,300 crore ($2.4 billion) from the IPO, some 10% more than its earlier target.
Kansai Nerolac Raised to Buy at Dolat Capital; Price Target: Rs 630
Pledge Share Details
Future Retail: Promoter Future Corporate Resources invoked pledge of 1.76 lakh shares between October 22-25.
Future Consumer: Promoter Future Capital Investment invoked pledge of 14.83 lakh shares between October 22-25.
Max Financial Services: Promoter Max Ventures Investment Holdings created a pledge of 4 lakh shares between October 25-26.
As reported on October 27.
Gateway Distriparks: SBI Mutual Fund bought 43 lakh shares (3.44%) at Rs 262.50 per share. Amansa Holdings sold 41.23 lakh shares (3.30%) at Rs 262.52 per share.
Kirloskar Pneumatic Co: HDFC Mutual Fund sold 5 lakh shares (0.78%) at Rs 383 per share.
Ex-Date Interim Dividend: Asian Paints, Sasken Technologies, TCI Express, Trident
Ex-Date Stock Split: Indian Railway Catering and Tourism Corporation
Record Date Interim Dividend: Havells India, ICICI Securities, Angel Broking
Move Out Of Short-Term ASM Framework: Borosil, IRB Infrastructure Developers, Jindal Worldwide, GOCL Corporation
Move Into ASM Framework: IRB Infrastructure Developers, IRB Infrastructure Developers
Money Market Update
The rupee ended at 75.02 against the U.S. Dollar on Wednesday as compared to Tuesday's closing of 74.95.
Nifty October futures ended at 18,196, a discount of 14.95 points.
Nifty October futures shed 34.61%, and 49,566 shares in Open Interest.
Nifty Bank October futures ended at 40,851.40, a discount of 22.95 points.
Nifty Bank October futures shed 4.34%, and 2,241 shares in Open Interest.
Securities in the ban list: Canara Bank, Indiabulls Housing Finance, Sun TV, NMDC.
Securities removed from the ban list: IEX, SAIL