All You Need To Know Going Into Trade On October 29

Asian stocks and U.S. futures fell Friday after disappointing earnings from Amazon.com Inc. and Apple Inc., amid concerns over inflation.

Shares were lower in Japan, Australia and South Korea. Nasdaq 100 contracts underperformed S&P 500 counterparts. Apple and Amazon fell in extended trading, signaling a more than $200 billion drop in combined market value.

The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, was little changed at 17,888, as of 7:10 a.m.

The U.S. 10-year Treasury yield dipped. The U.S. dollar was near a one-month low and crude oil fluctuated. Meanwhile, European Central Bank President Christine Lagarde acknowledged inflationary pressures will last longer than expected. Investors kept alive bets for rate hikes as soon as next year, bolstering the euro.

In cryptocurrencies, Bitcoin retreated below $58,000 before rebounding to nearly $60,000 in Asian hours.

Earnings Post Market Hours

InterGlobe Aviation Q2FY22 (Consolidated, YoY)

• Revenue up 1.05 times at Rs 5,608.49 crore Vs Rs 2,740.96 crore

• Net loss at Rs 1,435.65 crore Vs Rs 1,194.83 crore

• Ebitda down 7% at Rs 190.99 crore Vs Rs 206 crore

• Margin at 3.4% Vs 7.5%

• Total debt up 27.2% at Rs 32,335.3 crore Vs Rs 25,419.4

• Q3 capacity expected to increase by around 40% QoQ

• Aircraft fuel expenses up 208% at Rs 1,989.4 crore

• Aircraft and engine rental down 12.7% at Rs 64.9 crore

• Supplementary rentals and aircraft repair and maintenance cost up 73.6% at Rs 1,462 crore

NTPC Q2FY22 (Consolidated, YoY)

• Revenue up 17% at Rs 32,403.58 crore Vs Rs 27,707.76

• Net profit up 5% at Rs 3,599.26 crore Vs Rs 3,435.99 crore

• Ebitda up 5% at Rs 8,980.10 crore Vs Rs 8,512.28 crore

• Margin at 27.7% Vs 30.7%

Tata Power Q2FY22 (Consolidated, QoQ)

• Revenue down 3.2% at Rs 9,810.2 crore Vs Rs 10,132.4 crore (BBG estimate: Rs 10,477.7 crore)

• Net profit up 8.6% at Rs 505.6 crore Vs Rs 465.7 crore (BBG estimate: Rs 506.4 crore)

• Ebitda down 29.1% at Rs 1,663.64 crore Vs Rs 2,345.18 crore (BBG estimate: Rs 2,058.4 crore)

• Margins at 17% Vs 23.1%

• Renewable portfolio grew by 10% in Q2

• Appointed Sanjeev Churiwala as CFO w.e.f. January 1, 2022, in place of Ramesh N. Subramanyam, who will be moving on to a new role within the Tata Group

Adani Total Gas Q2FY22 (Consolidated, YoY)

• Revenue up 56% at Rs 686.80 crore Vs Rs 441.16 crore

• Net profit up 18% at Rs 158.12 crore Vs Rs 134.31 crore

• Ebitda up 10% at Rs 231.43 crore Vs Rs 209.53 crore

• Margin at 33.7% Vs 47.5%

• Approved up to $750 million Medium Term Note Program

RBL Bank Q2FY22

• Net Profit down 79% at Rs 30.80 crore Vs Rs 144.16 crore (YoY)

• NII down 1.8% at Rs 915.5 crore Vs Rs 932 crore (YoY)

• GNPA at 5.40% vs 4.99% (QoQ)

• NNPA at 2.14% vs 2.01% (QoQ)

Sagar Cements Q2FY22 (Consolidated, YoY)

• Revenue up 13% at Rs 368.93 crore Vs Rs 325.88 crore

• Net profit down 58% at Rs 21.07 crore Vs Rs 50.27 crore

• Ebitda down 42% at Rs 60.78 crore Vs Rs 104.77 crore

• Margin at 16.5% Vs 32.1%

Reliance Infrastructure Q2FY22 (Consolidated, YoY)

• Revenue up 62% at Rs 434.30 crore Vs Rs 267.53 crore

• Net loss at Rs 187.23 crore Vs Rs 174.93 crore

• Ebitda loss at Rs 10.75 crore Vs Rs 21.11 crore

• Aims to be debt free by FY22 end

Motilal Oswal Financial Services Q2FY22 (Consolidated, YoY)

• NII up 73% at Rs 1,212.09 crore Vs Rs 702.13 crore

• Net profit up 81% at Rs 536.51 crore Vs Rs 296.46 crore

• Capital markets businesses revenues up 44% at Rs 610 crore

• Asset management businesses AUM up 32%

• Housing finance business profit jumped 2.53 times to Rs 20.1 crore

DLF Q2FY22 (Consolidated, YoY)

• Revenue down 8% at Rs 1,480.90 crore Vs Rs 1,609.82 crore

• Net profit up 66% at Rs 378.12 crore Vs Rs 227.75 crore

• Ebitda down 1% at Rs 457.96 crore Vs Rs 463.12 crore

• Margin at 30.9% Vs 28.8%

Blue Star Q2FY22 (Consolidated, YoY)

• Revenue up 37% at Rs 1,239.74 crore Vs Rs 902.12 crore

• Net profit up 1.04 times at Rs 31.45 crore Vs Rs 15.40 crore

• Ebitda up 28% at Rs 70.70 crore Vs Rs 55.08 crore

• Margin at 5.7% Vs 6.1%

• Earnings per share at Rs 3.27 Vs Rs 1.59

GHCL Q2FY22 (Consolidated, YoY)

• Revenue up 22% at Rs 982.59 crore Vs Rs 806.51 crore

• Net profit up 29% at Rs 109.35 crore Vs Rs 84.46 crore

• Ebitda up 21% at Rs 192.60 crore Vs Rs 159.34 crore

• Margin at 19.6% Vs 19.8%

AU Small Finance Bank Q2FY22

• NII up 34% at Rs 753.13 crore Vs Rs 560.64 crore (YoY)

• Net profit down 13% at Rs 278.51 crore Vs Rs 321.87 crore (YoY)

• GNPA at 3.16% Vs 4.31% (QoQ)

• NNPA at 1.65% Vs 2.26% (QoQ)

Edelweiss Financial Services Q2FY22 (Consolidated, YoY)

• NII down 16% at Rs 1,072.74 crore Vs Rs 1,273.75 crore

• Net profit of Rs 57.29 crore Vs Net loss Rs 48.50 crore

• To raise up to Rs 1,000 crore via debentures

M&M Financial Services Q2FY22 (YoY)

• NII up 7% at Rs 1,786.07 crore Vs Rs 1,666.57 crore

• Net profit up 2.13 times at Rs 1,099.78 crore Vs Rs 351.35 crore

Stocks To Watch

• IRCTC: To share proceeds of service charge on e-ticketing with lndian Railways. The revenue earned from convenience fee collected by IRCTC to be shared in the ratio of 50:50 w.e.f November 1, 2021, Ministry of Railways said.

• NTPC: The company’s installed capacity stood at 66,900 MW in Q2 FY22 Vs 62,910 MW in the same quarter last year. Captive mines coal output up 2.62 times year-on-year at 2.79 MMT Vs O.77 MMT. Plant availability factor-coal at 85.36% Vs 91.83%.

• Bharti Airtel: In its October 28 order regarding refund of excess GST paid by Bharti Airtel, the Supreme Court, has maintained that the company has the freedom to avail the amount of Rs 923 crore as Input Tax Credit in the subsequent returns, which the company had duly done, it said in an exchange filing.

• Future Consumer: Approved entering into a joint venture arrangement between Griffith Foods Worldwide INC and Sublime Foods, a subsidiary of the company.

• Suprajit Engineering: To acquire light duty cable business unit of Kongsberg Automotive ASA. Enterprise value of the transaction is pegged at $42 million. The transaction is expected to close by end of January 2022.

• Manappuram Finance: To consider raising funds via issuance of various debt securities or through issue of Commercial Papers in November 2021.

• Amara Raja Batteries: Andhra Pradesh High Court court has extended APPCB suspension.

• Dabur India: To consider raising bond issue limit to Rs 500 crore in November 2 meeting.

• Wipro: The company in partnership with Oracle launched Wipro Tollway Transportation and Billing solution to enhance commuters’ experience while improving profitability for tollway authorities.

• Infosys: The company and bp, a global integrated energy company have agreed to develop and pilot an energy as a service solution, which will aim to help businesses improve the energy efficiency of infrastructure and help meet their decarbonisation goals.

• GMM Pfaudler: Approved appointment of Aseem Joshi as the CEO.

• Earnings: BPCL, UPL, Vedanta, Dr.Reddy's Laboratories, Shree Cement, JSW Energy, Adani Transmission, Adani Power, Gail (India), Ajanta Pharma, Apollo Tyres, Cadila Healthcare, Emami, Bandhan Bank, Castrol India, Steel Authority Of India, Embassy Office Parks REIT, Bharat Electronics, Cholamandalam Investment and Finance Company, Dixon Technologies (India), Equitas Small Finance Bank, Eris Lifesciences, Glaxosmithkline Pharmaceuticals, Nazara Technologies, Escorts, Exide Industries, Indigo Paints, Voltas, Chemplast Sanmar, Aptus Value Housing Finance India, Atul, Blue Dart Express, Barbeque-Nation Hospitality, Care Ratings, Confidence Petroleum India, Dalmia Bharat Sugar and Industries, Elecon Engineering Co, GNA Axles, Jindal Saw, Jindal Worldwide, JK Lakshmi Cement, Kirloskar Brothers, Oberoi Realty, Punjab Chemicals And Crop Protection, Sheela Foam, Shilpa Medicare, Solar Industries India, Shriram Transport Finance Co, Sumitomo Chemical India, Tips Industries, Tv Today Network, Varun Beverages, VIP Industries

Offerings

• Fino Payments Bank has raised Rs 538 crore from 29 anchor investors. The company’s IPO will open for subscription today and will remain open till November 2. The price band for the IPO will be Rs 560-577 per share.

• The initial public offering of FSN E-Commerce Ventures, the entity that operates Indian beauty startup Nykaa, was subscribed 1.55 times on the first day.

Bulk Deals

• New Delhi Television: Eriska Investment Fund sold 28.51 lakh shares (4.42%) at Rs 79 per share. Vikasa India EIF I Fund bought 28.51 lakh shares (4.42%) at Rs 79 per share.

Who’s Meeting Whom

• Krsnaa Diagnostics: To meet Max Life Insurance Company on October 29.

• UltraTech Cement: To meet ICICI Prudential AMC and Putnam Investments on October 29.

Trading Tweaks

• Ex-Date Interim Dividend: ICICI Lombard General Insurance Company, Sonata Software, Supreme Industries

• Record Date Stock Split: Indian Railway Catering and Tourism Corporation

• Record Date Interim Dividend: Asian Paints, Trident, Sasken Technologies

• Move Into Short-Term ASM Framework: Tatva Chintan Pharma Chem, Transport Corporation of India

• Move Into ASM Framework: Kirloskar Brothers, Ajmera Realty & Infra India, Digispice Technologies

Money Market Update

• The rupee ended at 74.92 against the U.S. Dollar on Thursday as compared to Wednesday's closing of 75.02.

Economic Data

• India Fiscal Deficit for April-Sept. Period

• Eight Infrastructure Industries Index for Sept.

Analyst Actions

• Bajaj Auto Raised to Accumulate at Dolat Capital

• Bharat Electronics Rated New Buy at Elara Secs India

• Cipla Rated New Neutral at Haitong Intl; Price target: Rs 1,005

• IRB Infra Cut to Hold at Anand Rathi Securities; Price target: Rs 293

• TTK Prestige Cut to Reduce at YES Research; Price target: Rs 11,541

F&O Cues

• Nifty October futures ended at 17,901.70, a premium of 44.45 points.

• Nifty October futures added 34.04%, and 52,886 shares in Open Interest.

• Nifty Bank October futures ended at 39,515.40, a premium of 6.45 points.

• Nifty Bank October futures shed 58.70%, and 28,984 shares in Open Interest.

• Securities removed from the ban list: Canara Bank, Indiabulls Housing Finance, Sun TV, NMDC